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PRCCX Putnam Convertible Securities C

  • Fund
  • PRCCX
  • Price as of: Sep 19, 2017
  • $25.28
  • + $0.01
  • + 0.04%
  • Category
  • Preferred Stock/Convertible Bonds

PRCCX - Profile

Vitals

  • YTD Return 10.8%
  • 3 Yr Annualized Return 3.2%
  • 5 Yr Annualized Return 8.5%
  • Net Assets $695 M
  • Holdings in Top 10 20.0%

52 WEEK LOW AND HIGH

$25.28
$21.85
$25.28

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.84%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 49.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Preferred Stock/Convertible Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Convertibles

Distributions

  • YTD Total Return 10.8%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 8.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.84%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Putnam Convertible Securities Fund
  • Fund Family Name Putnam
  • Inception Date Jul 26, 1999
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Eric N. Harthun

Fund Description

The fund invests mainly in convertible securities of U.S. companies. Convertible securities combine the investment characteristics of bonds and common stocks. Under normal circumstances, it invests at least 80% of the fund's net assets in convertible securities. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities are below-investment-grade.

PRCCX - Performance

Return Ranking - Trailing

Period PRCCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 10.8% -1.0% 14.0% 22.94% 2
1 Yr 12.7% -10.4% 27.2% 24.77% 2
3 Yr 3.2% * -3.3% 10.9% 72.55% 4
5 Yr 8.5% * 1.6% 11.1% 41.24% 3
10 Yr 5.2% * 3.8% 7.8% 81.58% 5

* Annualized


Return Ranking - Calendar

Period PRCCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 7.2% -2.1% 8.7% 21.36% 2
2015 -12.4% -17.9% 1.4% 78.64% 5
2014 0.7% -7.4% 10.0% 50.00% 3
2013 18.9% -9.4% 21.4% 33.33% 2
2012 11.7% -10.2% 16.2% 26.04% 2

Total Return Ranking - Trailing

Period PRCCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 10.8% -1.0% 14.0% 22.94% 2
1 Yr 11.7% -9.6% 27.2% 24.77% 2
3 Yr 3.2% * -4.5% 17.3% 64.71% 4
5 Yr 8.5% * 1.1% 11.1% 37.11% 2
10 Yr 5.2% * 3.8% 7.8% 80.26% 4

* Annualized


Total Return Ranking - Calendar

Period PRCCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 8.4% -0.7% 11.2% 32.04% 2
2015 -8.1% -17.5% 6.8% 84.47% 5
2014 7.5% -2.4% 22.4% 54.90% 3
2013 24.8% -9.4% 37.3% 51.52% 3
2012 17.7% -9.5% 34.3% 51.04% 3

NAV & Total Return History

PRCCX - Holdings

Filings data as of: Jun 30, 2017

Concentration Analysis

PRCCX Category Low Category High PRCCX % Rank Quintile
Net Assets 695 M 1.22 M 7.71 B 18.35% 3
Number of Holdings 120 6 306 11.93% 3
Net Assets in Top 10 136 M -62.9 M 1.23 B 19.27% 4
Weighting of Top 10 20.0% 14.3% 102.9% 21.10% 4

Top 10 Holdings

  1. Microchip Tech 144A Cv 1.625% 2.74%
  2. Allergan Plc 05.5000 Cv Pfd 2.27%
  3. Dish Net 144A Cv 3.375% 2.16%
  4. Novellus Sys Cv 2.625% 2.06%
  5. Priceline Grp Cv 1% 2.03%
  6. Intel Cv 3.25% 1.86%
  7. Liberty Media Corp Delaware Cv 1.375% 1.57%
  8. Jazz Investments I 1.875% 1.78%
  9. Amer Tower Corp New Pfd 1.84%
  10. Becton Dickinson Pfd 1.64%

Asset Allocation

Weighting Category Low Category High PRCCX % Rank Quintile
Convertible Bonds
65.94% 0.02% 88.68% 11.01% 2
Preferred Stocks
16.03% 0.00% 67.26% 12.84% 2
Stocks
8.00% -6.61% 35.79% 12.84% 2
Bonds
4.19% -50.44% 58.41% 18.35% 4
Cash
3.53% 0.00% 61.59% 17.43% 3
Other
2.32% 0.00% 48.45% 5.50% 1

Stock Sector Breakdown

Weighting Category Low Category High PRCCX % Rank Quintile
Utilities
2.55% 0.00% 9.20% 4.90% 1
Healthcare
1.41% 0.00% 5.70% 10.78% 2
Technology
1.39% 0.00% 5.93% 8.82% 2
Industrials
1.07% -0.09% 2.99% 10.78% 3
Financial Services
0.59% 0.00% 9.74% 10.78% 3
Consumer Defense
0.39% 0.00% 3.89% 9.80% 2
Consumer Cyclical
0.34% 0.00% 5.73% 8.82% 2
Communication Services
0.25% -0.57% 4.45% 4.90% 1
Real Estate
0.00% 0.00% 35.54% 14.71% 3
Energy
0.00% -0.47% 0.70% 8.82% 2
Basic Materials
0.00% -0.20% 0.46% 5.88% 2

Stock Geographic Breakdown

Weighting Category Low Category High PRCCX % Rank Quintile
US
8.00% -6.61% 35.79% 12.84% 2
Non US
0.00% 0.00% 5.08% 11.93% 3

Bond Sector Breakdown

Weighting Category Low Category High PRCCX % Rank Quintile
Corporate
86.16% 19.56% 95.59% 14.68% 3
Cash & Equivalents
3.53% 0.00% 65.22% 15.60% 3
Derivative
0.85% -5.64% 1.23% 1.83% 1
Securitized
0.00% 0.00% 36.47% 5.50% 2
Municipal
0.00% 0.00% 0.03% 1.83% 1
Government
0.00% -56.81% 5.36% 2.75% 1

Bond Geographic Breakdown

Weighting Category Low Category High PRCCX % Rank Quintile
US
2.41% -54.82% 54.23% 17.43% 3
Non US
1.78% 0.00% 24.62% 19.27% 4

PRCCX - Expenses

Operational Fees

PRCCX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.84% 0.34% 7.42% 18.35% 4
Management Fee 0.63% 0.24% 1.15% 9.17% 2
12b-1 Fee 1.00% 0.00% 1.00% 1.18% 4
Administrative Fee N/A 0.01% 0.40% N/A N/A

Sales Fees

PRCCX Fees (% of AUM) Category Low Category High PRCCX Rank Quintile
Front Load N/A 2.00% 5.75% N/A N/A
Deferred Load 1.00% 1.00% 5.00% 8.00% 1

Trading Fees

PRCCX Fees (% of AUM) Category Low Category High PRCCX Rank Quintile
Max Redemption Fee 1.00% 1.00% 2.00% 14.29% 1

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.

PRCCX Fees (% of AUM) Category Low Category High PRCCX Rank Quintile
Turnover 49.00% 13.00% 947.00% 13.76% 3

PRCCX - Distributions

Dividend Yield Analysis

PRCCX Category Low Category High PRCCX % Rank Quintile
Dividend Yield 0.4% 0.03% 1.69% 57.84% 4

Dividend Distribution Analysis

PRCCX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PRCCX Category Low Category High PRCCX % Rank Quintile
Net Income Ratio 0.84% -1.25% 5.74% 86.24% 5

Capital Gain Distribution Analysis

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

PRCCX - Managers

Eric N. Harthun

Manager

Start Date

Nov 26, 2008

Tenure

8.77

Tenure Rank

9.1%

Mr. Harthun is a Portfolio Manager of Putnam Convertible Securities Fund and Putnam Small Cap Value Fund. Mr. Harthun joined Putnam in 2000. He is a CFA charterholder and has been in the investment industry since 1994.


Robert L. Salvin

Manager

Start Date

Feb 28, 2006

Tenure

11.51

Tenure Rank

6.3%

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.


Anthony Daigle

Manager

Start Date

Jun 30, 2017

Tenure

0.17

Tenure Rank

23.1%

Anthony Daigle serves as Portfolio Manager in the Putnam Management .


Tenure Analysis

Category Low

0.0

Category High

32.2

Category Average

8.25

Category Mode

2.7