PMOTX: Putnam Mortgage Opportunities I

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PMOTX Putnam Mortgage Opportunities I

  • Fund
  • PMOTX
  • Price as of: Oct 15, 2019
  • $10.71 - $0.00 - 0.00%

PMOTX - Profile

Vitals

  • YTD Return 6.8%
  • 3 Yr Annualized Return 2.8%
  • 5 Yr Annualized Return N/A
  • Net Assets $293 M
  • Holdings in Top 10 26.8%

52 WEEK LOW AND HIGH

$10.71
$10.01
$10.79

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.68%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 1012.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$5,000,000

IRA

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Nontraditional Bond

Distributions

  • YTD Total Return 6.8%
  • 3 Yr Annualized Total Return 2.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.41%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Putnam Mortgage Opportunities Fund
  • Fund Family Name Putnam
  • Inception Date Apr 07, 2015
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Jatin Misra

Fund Description

The fund invests mainly in mortgage-related fixed income securities and related derivatives that are either investment-grade or below-investment-grade in quality. Under normal circumstances, it invests at least 80% of the fund's net assets in mortgages, mortgage-related fixed income securities and related derivatives. The fund generally uses the net unrealized gain or loss, or market value, of mortgage-related derivatives for purposes of this policy, but may use the notional value of a derivative if that is determined to be a more appropriate measure of the fund's investment exposure.

PMOTX - Performance

Return Ranking - Trailing

Period PMOTX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -6.6% 12.2% 8.93%
1 Yr -0.7% -11.3% 11.3% 66.06%
3 Yr 2.8%* -4.9% 5.7% 14.29%
5 Yr N/A* -4.5% 6.4% N/A
10 Yr N/A* -3.2% 4.3% N/A

* Annualized


Return Ranking - Calendar

Period PMOTX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.6% -9.2% 0.8% 19.84%
2017 5.3% -12.3% 9.4% 4.55%
2016 N/A -2.8% 10.7% N/A
2015 N/A -11.1% 4.8% N/A
2014 N/A -8.4% 54.9% N/A

Total Return Ranking - Trailing

Period PMOTX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.8% -6.6% 12.4% 8.93%
1 Yr -0.7% -10.5% 14.0% 70.04%
3 Yr 2.8%* -3.5% 6.3% 22.45%
5 Yr N/A* -4.5% 6.4% N/A
10 Yr N/A* -3.2% 5.3% N/A

* Annualized


Total Return Ranking - Calendar

Period PMOTX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.6% -9.2% 4.1% 45.63%
2017 5.3% -3.1% 15.2% 15.70%
2016 N/A -2.8% 17.7% N/A
2015 N/A -10.1% 5.4% N/A
2014 N/A -8.0% 55.3% N/A

NAV & Total Return History

PMOTX - Holdings

Concentration Analysis

PMOTX Category Low Category High PMOTX % Rank
Net Assets 293 M 1.15 M 33.3 B 62.02%
Number of Holdings 641 12 4813 41.78%
Net Assets in Top 10 43.7 M -5.94 B 10.5 B 56.51%
Weighting of Top 10 26.77% 0.0% 964.5% 64.73%

Top 10 Holdings

  1. Federal National Mortgage Association 3% 12.65%

  2. Federal National Mortgage Association 4% 3.34%

  3. Cmb Cmbx.Na.Bbb-.6 2063-05-11 300.0 05/11/2063 Jp 2.38%

  4. Federal National Mortgage Association 4% 2.22%

  5. Government National Mortgage Association 4.5% 1.50%

  6. Federal National Mortgage Association 4.5% 1.12%

  7. Federal National Mortgage Association 3.5% 1.10%

  8. Cmb Cmbx.Na.Bbb-.6 2063-05-11 300.0 05/11/2063 Ms 0.95%

  9. Federal National Mortgage Association 6.65% 0.76%

  10. Federal National Mortgage Association 4.9% 0.75%


Asset Allocation

Weighting Return Low Return High PMOTX % Rank
Bonds
72.41% -41.63% 192.02% 68.49%
Cash
31.35% -85.87% 135.46% 23.97%
Stocks
0.02% -34.71% 17.13% 50.68%
Preferred Stocks
0.00% 0.00% 21.25% 94.52%
Convertible Bonds
0.00% 0.00% 90.21% 96.58%
Other
-3.78% -17.86% 107.29% 94.52%

Stock Sector Breakdown

Weighting Return Low Return High PMOTX % Rank
Utilities
0.00% -0.04% 2.50% N/A
Technology
0.00% 0.00% 13.39% N/A
Real Estate
0.00% -0.07% 4.51% N/A
Industrials
0.00% 0.00% 2.96% N/A
Healthcare
0.00% -0.10% 7.25% N/A
Financial Services
0.00% 0.00% 11.82% N/A
Energy
0.00% 0.00% 1.63% N/A
Communication Services
0.00% -0.01% 0.54% N/A
Consumer Defense
0.00% -0.03% 0.71% N/A
Consumer Cyclical
0.00% -0.50% 2.14% N/A
Basic Materials
0.00% 0.00% 1.02% N/A

Stock Geographic Breakdown

Weighting Return Low Return High PMOTX % Rank
US
0.02% -32.05% 16.91% 45.21%
Non US
0.00% -2.66% 5.74% 91.10%

Bond Sector Breakdown

Weighting Return Low Return High PMOTX % Rank
Securitized
71.99% 0.00% 134.86% 16.10%
Cash & Equivalents
31.35% -86.29% 133.57% 23.97%
Corporate
0.24% -0.98% 142.96% 90.75%
Government
0.19% -212.16% 446.78% 65.75%
Derivative
0.00% -308.29% 13.08% 68.49%
Municipal
0.00% 0.00% 82.33% 94.52%

Bond Geographic Breakdown

Weighting Return Low Return High PMOTX % Rank
US
72.41% -107.55% 138.11% 32.53%
Non US
0.00% -45.53% 194.30% 91.10%

PMOTX - Expenses

Operational Fees

PMOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.20% 25.49% 90.53%
Management Fee 0.55% 0.00% 2.15% 35.76%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.45% N/A

Sales Fees

PMOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.40% 6.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PMOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.40% 2.00% N/A

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.

PMOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 1012.00% 0.00% 2337.00% 98.55%

PMOTX - Distributions

Dividend Yield Analysis

PMOTX Category Low Category High PMOTX % Rank
Dividend Yield 0.00% 0.00% 5.28% 99.34%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

PMOTX Category Low Category High PMOTX % Rank
Net Income Ratio 4.41% 0.10% 6.40% 14.77%

Capital Gain Distribution Analysis

PMOTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

PMOTX - Managers

Jatin Misra

Manager

Start Date

Tenure

Tenure Rank

Apr 07, 2015

4.48

4.5%

Jatin Misra is Portfolio Manager. Previously served as Analyst and Quantitative Analyst. Joined Putnam Management since 2004.


Brett Kozlowski

Manager

Start Date

Tenure

Tenure Rank

Apr 07, 2015

4.48

4.5%

Mr. Kozlowski is a Portfolio Manager in the Fixed Income Structured Credit group. He is responsible for developing investment strategies within securitized sectors, including agency mortgage-backed securities (MBS); non-agency residential mortgage-backed securities (RMBS); commercial mortgage-backed securities (CMBS); and asset-backed securities. In addition, he is a Portfolio Manager of Putnam Income Fund and assists in the management of several institutional client portfolios. He joined Putnam in 2008 and has been in the investment industry since 1997. Prior to joining Putnam, Mr. Kozlowski held roles of increasing responsibility at Fidelity Investmentsincluding Portfolio Manager from 2008 to 2006; Research Analyst from 2006 to 2003; Trader from 2001 to 2003; Portfolio Analyst from 2000 to 2001; and Research Associate from 1997 to 2000. He earned a B.S. from Massachusetts Institute of Technology.


Michael V. Salm

Manager

Start Date

Tenure

Tenure Rank

Apr 07, 2015

4.48

4.5%

Mr. Salm is a Co-Head of Fixed Income, specializing in liquid markets and securitized strategies. In this role, he oversees investment strategies related to mortgage and securitized products, interest-rate and volatility derivatives, and money markets. In addition, he manages trading operations and Putnam's Fixed Income quantitative teams. He is a portfolio manager of core global, core plus, global government, fixed income global alpha, and dedicated mortgage strategies, as well as fixed income hedge funds. Mr. Salm joined Putnam in 1997 and has been in the investment industry since 1989. Previously at Putnam, he served as a Portfolio Manager responsible for mortgage strategies in fixed income portfolios. Prior to joining Putnam, Mr. Salm was a Mortgage Specialist at BlackRock Financal Management from 1996 to 1997, a Vice President and Trader at Nomura Securities from 1994 to 1996, a Vice President and Structurer at Nikko Securities from 1993 to 1994, and an Analyst at Fitch Investor Services from 1991 to 1992. Mr. Salm earned a B.S. from Cornell University.


Tenure Analysis

Category Low

0.0

Category High

24.76

Category Average

5.35

Category Mode

0.75