About PFRYX
Putnam Floating Rate Income Fund - Class Y is a mutual fund that primarily invests in floating-rate bank loans, which are debt obligations with yields set at a margin above short-term interest rates that adjust as rates change. The fund seeks high current income as its primary objective, with preservation of capital as a secondary goal. It focuses on a diversified portfolio of bank loans, typically rated below investment grade, selected through rigorous credit research by experienced managers. Key characteristics include a low effective duration, making it less sensitive to interest rate fluctuations, and monthly dividend distributions. The portfolio spans sectors such as consumer cyclicals, technology, basic materials, capital goods, and financials, with holdings concentrated in BB and B-rated credits. Classified in the bank loan category by Morningstar and Lipper as loan participation funds, it benchmarks against the Morningstar LSTA US Leveraged Loan Index. Managed within the Franklin Templeton family since 2022 and headquartered in the United States, Putnam Floating Rate Income Fund - Class Y serves investors seeking income from adjustable-rate leveraged loans in the fixed-income market.
Fund Family Franklin Templeton Investments
Category Bank Loan
Performance Rating Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol PFRYX
Index Morningstar LSTA US Leveraged Loan TR USD
PFRYX had a total return of 3.95% in the past year, including dividends.
Since the fund's inception, the average annual return has been 3.73%.
