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Morningstar

Putnam Income R PIFRX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 5.48  /  0.37 %
  • Total Assets 1.5 Bil
  • Adj. Expense Ratio
    1.000%
  • Expense Ratio 0.980%
  • Distribution Fee Level Average
  • Share Class Type Retirement, Medium
  • Category Intermediate Core-Plus Bond
  • Credit Quality / Interest Rate Sensitivity Medium / Moderate
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 7.57%
  • Effective Duration 5.84 years

USD | NAV as of Feb 01, 2023 | 1-Day Return as of Feb 01, 2023, 12:00 AM GMT+00:00

Morningstar’s Analysis PIFRX

Will PIFRX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PIFRX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PIFRX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PIFRX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A mortgage-focused fund with high levels of mortgage credit and prepayment risks.

Senior Analyst

Summary

| by Peter Marchese

Putnam Income’s complex, mortgage-focused portfolio is quite sensitive to securitized credit market swings and changes in mortgage prepayment speeds, and merits a Morningstar Analyst Rating of Neutral for most share classes, and Negative for its two most expensive classes.

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