The team behind Putnam Floating Rate Income is stretched thin following a few years of significant turnover. It is being consciously downsized, and its undistinctive process has failed to stand out among its peers. The strategy earns a Morningstar Analyst Rating of Neutral for the Y and R6 share classes and Negative for the other share classes.
Will PFRYX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PFRYX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PFRYX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PFRYX’s parent organization’s priorities and whether they’re in line with investors’ interests.