Putnam Retirement Advantage 2045 C (PAFPX)
| Fund Assets | 27.32M |
| Expense Ratio | 1.55% |
| Min. Investment | $500 |
| Turnover | 22.00% |
| Dividend (ttm) | 1.05 |
| Dividend Yield | 8.26% |
| Dividend Growth | 92.19% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 30, 2025 |
| Previous Close | 12.66 |
| YTD Return | 3.09% |
| 1-Year Return | 16.64% |
| 5-Year Return | 55.80% |
| 52-Week Low | 9.41 |
| 52-Week High | 12.67 |
| Beta (5Y) | n/a |
| Holdings | 3 |
| Inception Date | Sep 1, 2020 |
About PAFPX
Putnam Retirement Advantage 2045 Fund Class C is a target-date mutual fund designed for investors planning to begin withdrawals around 2045. Its primary goal is to deliver long-term capital appreciation early in the lifecycle while incorporating income and risk reduction as the target date approaches through a defined glide path. The fund allocates across a diversified lineup of underlying Putnam mutual funds, emphasizing equities in the early years and gradually increasing exposure to fixed income and capital preservation strategies over time. It functions as a turnkey, professionally managed retirement solution, offering broad asset-class diversification and systematic rebalancing. The strategy is commonly used in retirement plans and IRAs as a core, age-appropriate allocation that evolves automatically. Class C shares feature a distribution and servicing fee structure distinct from other share classes within the same strategy, paired with a relatively low minimum initial investment. According to public fund profiles, recent holdings have largely consisted of Putnam’s multi-asset allocation and liquidity vehicles, reflecting its fund-of-funds construction and pursuit of balanced growth and risk control as 2045 approaches.
Performance
PAFPX had a total return of 16.64% in the past year, including dividends. Since the fund's inception, the average annual return has been 19.14%.
Top Holdings
99.91% of assets| Name | Symbol | Weight |
|---|---|---|
| Putnam Dynamic Asset Allocation Growth Fund, Class P | n/a | 90.62% |
| Putnam Dynamic Asset Allocation Balanced Fund, Class P | n/a | 6.76% |
| Putnam Short Term Investment Fund, Class P | n/a | 2.52% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 30, 2025 | $1.0455 | Dec 30, 2025 |
| Dec 31, 2024 | $0.544 | Dec 31, 2024 |
| Dec 29, 2023 | $0.195 | Dec 29, 2023 |
| Dec 30, 2022 | $0.947 | Dec 30, 2022 |
| Dec 31, 2021 | $1.669 | Dec 31, 2021 |
| Dec 31, 2020 | $0.100 | Dec 31, 2020 |