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PFLRX Putnam Floating Rate Income A

  • Fund
  • PFLRX
  • Price as of: Dec 14, 2018
  • $8.31
  • - $0.01
  • - 0.12%
  • Category
  • Bank Loan

PFLRX - Profile

Vitals

  • YTD Return -3.3%
  • 3 Yr Annualized Return 4.2%
  • 5 Yr Annualized Return 2.7%
  • Net Assets $738 M
  • Holdings in Top 10 8.5%

52 WEEK LOW AND HIGH

$8.31
$8.31
$8.66

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.02%

SALES FEES

  • Front Load 1.00%
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 60.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Bank Loan
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return -3.3%
  • 3 Yr Annualized Total Return 3.8%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.79%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Putnam Floating Rate Income Fund
  • Fund Family Name Putnam
  • Inception Date Aug 04, 2004
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Paul D. Scanlon

Fund Description

The fund invests mainly in corporate loans and debt securities that have floating rates of interest and other corporate debt securities. It will invest at least 80% of its net assets in income-producing floating rate loans and other floating rate debt securities. The fund invests mainly in obligations of U.S. issuers that are below-investment-grade in quality. The adviser may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments.

PFLRX - Performance

Return Ranking - Trailing

Period PFLRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.3% -4.4% 4.4% 48.34% 4
1 Yr 2.3% -1.0% 12.4% 65.57% 4
3 Yr 4.2% * 0.2% 6.7% 57.69% 3
5 Yr 2.7% * 0.2% 5.8% 66.02% 4
10 Yr 7.1% * 0.3% 10.4% 45.05% 3

* Annualized


Return Ranking - Calendar

Period PFLRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -0.5% -5.3% 6.5% 49.52% 4
2016 4.6% -12.2% 7.9% 31.40% 3
2015 -5.3% -10.4% 0.0% 39.61% 3
2014 -3.2% -6.9% 12.5% 34.31% 3
2013 1.1% -1.3% 11.2% 24.43% 2

Total Return Ranking - Trailing

Period PFLRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.3% -100.0% 4.4% 47.39% 4
1 Yr 1.2% -3.7% 12.4% 58.49% 3
3 Yr 3.8% * 0.3% 6.7% 61.06% 4
5 Yr 2.5% * 0.2% 5.8% 66.50% 4
10 Yr 7.0% * 0.3% 10.4% 46.85% 3

* Annualized


Total Return Ranking - Calendar

Period PFLRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -0.5% -5.3% 6.5% 49.52% 4
2016 4.6% -12.2% 10.8% 41.55% 3
2015 -5.3% -8.8% 2.9% 46.38% 4
2014 -3.2% -6.9% 12.5% 48.04% 4
2013 1.1% -1.3% 11.2% 35.23% 3

NAV & Total Return History

PFLRX - Holdings

Filings data as of: Sep 30, 2018

Concentration Analysis

PFLRX Category Low Category High PFLRX % Rank Quintile
Net Assets 738 M 76 M 14.9 B 21.23% 4
Number of Holdings 251 110 1873 23.11% 4
Net Assets in Top 10 64.8 M -331 M 1.94 B 22.17% 4
Weighting of Top 10 8.5% 5.7% 224.2% 21.23% 4

Top 10 Holdings

  1. Refinitiv Tlb L+375 06.0875 09/18/2025 0.95%
  2. Scientific Games Tlb5 L+275 04.5390 08/14/2024 0.89%
  3. Dell Intl Tlb L+200 04.2500 09/07/2023 0.88%
  4. Zekelman Tlb L+225 04.6230 06/14/2021 0.85%
  5. Sprint Tlb L+250 04.7500 02/02/2024 0.84%
  6. Ortho-Clinical Tlb L+325 06/01/2025 0.83%
  7. Quikrete Tlb L+275 04.9922 11/15/2023 0.82%
  8. Avaya Tlb L+425 06.4084 12/15/2024 0.82%
  9. Ppd Tl L+250 04.7856 08/18/2022 0.81%
  10. Cineworld Tlb L+250 04.2999 02/28/2025 0.81%

Asset Allocation

Weighting Category Low Category High PFLRX % Rank Quintile
Bonds
95.16% 5.65% 103.01% 9.43% 2
Cash
4.01% -7.17% 87.26% 21.23% 4
Other
0.36% -6.13% 10.05% 15.09% 3
Convertible Bonds
0.32% 0.00% 5.86% 4.25% 1
Stocks
0.16% 0.00% 8.49% 15.57% 3
Preferred Stocks
0.00% 0.00% 0.57% 7.55% 2

Stock Sector Breakdown

Weighting Category Low Category High PFLRX % Rank Quintile
Industrials
0.11% 0.00% 0.65% 6.01% 2
Consumer Cyclical
0.04% 0.00% 0.85% 8.74% 3
Utilities
0.00% 0.00% 0.43% 5.46% 2
Technology
0.00% 0.00% 0.32% 1.64% 1
Real Estate
0.00% 0.00% 0.61% 3.83% 2
Healthcare
0.00% 0.00% 0.09% 1.64% 1
Financial Services
0.00% 0.00% 0.88% 3.28% 2
Energy
0.00% 0.00% 1.33% 8.74% 2
Communication Services
0.00% 0.00% 0.13% 3.28% 2
Consumer Defense
0.00% 0.00% 0.13% 3.28% 2
Basic Materials
0.00% 0.00% 1.73% 9.84% 3

Stock Geographic Breakdown

Weighting Category Low Category High PFLRX % Rank Quintile
US
0.16% 0.00% 8.49% 14.62% 3
Non US
0.00% 0.00% 1.01% 6.60% 3

Bond Sector Breakdown

Weighting Category Low Category High PFLRX % Rank Quintile
Corporate
95.48% 22.75% 99.42% 2.83% 1
Cash & Equivalents
4.01% -7.39% 164.55% 20.28% 4
Derivative
0.00% -33.31% 17.86% 6.13% 2
Securitized
0.00% 0.00% 44.35% 15.57% 4
Municipal
0.00% 0.00% 1.96% 2.36% 2
Government
0.00% -115.02% 19.70% 8.49% 3

Bond Geographic Breakdown

Weighting Category Low Category High PFLRX % Rank Quintile
US
93.33% -54.19% 94.29% 0.94% 1
Non US
1.83% 0.00% 78.18% 31.13% 5

PFLRX - Expenses

Operational Fees

PFLRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.02% 0.01% 2.66% 29.25% 3
Management Fee 0.56% 0.00% 1.00% 8.02% 2
12b-1 Fee 0.25% 0.00% 1.00% 7.89% 2
Administrative Fee N/A 0.03% 0.40% N/A N/A

Sales Fees

PFLRX Fees (% of AUM) Category Low Category High PFLRX Rank Quintile
Front Load 1.00% 0.75% 4.75% 25.00% 1
Deferred Load 1.00% 1.00% 5.00% 9.09% 1

Trading Fees

PFLRX Fees (% of AUM) Category Low Category High PFLRX Rank Quintile
Max Redemption Fee 1.00% 1.00% 2.00% 5.41% 2

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PFLRX Fees (% of AUM) Category Low Category High PFLRX Rank Quintile
Turnover 60.00% 13.00% 243.00% 13.68% 2

PFLRX - Distributions

Dividend Yield Analysis

PFLRX Category Low Category High PFLRX % Rank Quintile
Dividend Yield 0.4% 0.23% 1.35% 45.45% 4

Dividend Distribution Analysis

PFLRX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PFLRX Category Low Category High PFLRX % Rank Quintile
Net Income Ratio 3.79% 2.34% 5.68% 36.32% 3

Capital Gain Distribution Analysis

PFLRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

PFLRX - Managers

Paul D. Scanlon

Lead Manager

Start Date

Mar 23, 2005

Tenure

13.7

Tenure Rank

1.4%

Paul Scanlon is Co-Head of Fixed Income at Putnam Investments. Paul’s career in the investment industry began in 1986. He joined Putnam in 1999. Prior to joining Putnam (from 1997 to 1999), he was a Senior Vice President at a leading provider of international health claims administration and cost management services company. From 1992 to 1997, he was a Senior Analyst in the Fixed Income division at a large financial services provider. From 1986 to 1990, Paul was an Assistant Treasurer, Corporate Finance, at a large retail and commercial bank in the U.K.


Norman P. Boucher

Manager

Start Date

Jan 22, 2008

Tenure

10.86

Tenure Rank

3.6%

Norman Boucher is a Portfolio Manager at Putnam Investments. He is responsible for managing the cyclical part of Putnam's high-yield portfolios. Norman’s career in the investment industry began in 1985. He joined Putnam in 1998 as an Analyst covering the automotive, aerospace and technology sectors. He served as a Portfolio Manager on the U.S. high-yield team before moving to Putnam's London office to manage European high-yield portfolios. During that time, Norman also managed the European allocation of global high-yield portfolios and collaborated with the U.S. High Yield team daily.


Robert L. Salvin

Manager

Start Date

Jan 22, 2008

Tenure

10.86

Tenure Rank

3.6%

Mr. Salvin is a Portfolio Manager of Putnam's global credit strategies. He is responsible for managing convertible securities, U.S. high-yield, global high-yield, and floating rate loan strategies. Mr. Salvin joined Putnam in 2000 and has been in the investment industry since 1986. Prior to joining Putnam, Mr. Salvin was a Managing Director at BancBoston Robertson Stephens from 1997 to 1999, a Director at SBC Warburg Inc. from 1996 to 1997, an Associate at Chase Securities from 1993 to 1996, and an Analyst at Broadview Associates from 1986 to 1991.


Tenure Analysis

Category Low

0.0

Category High

22.3

Category Average

6.17

Category Mode

3.9