Putnam to Cut Sales Charges on Three of its Funds
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Monday, March 22, 2010

Putnam to Cut Sales Charges on Three of its Funds

Putnam Investments is lowering the initial sales charge on three of its funds. Effective April 5, all purchases under $500,000 of the Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and Putnam Absolute Return 300 Fund will come with a sales charge of 100 bps for A shares and 75 bps for M shares, according to an SEC filing.

Previously, A shares of the three funds carried a 325-basis-point sales charge, while M shares had a sales charge of 200 bps.

In addition, Putnam is lowering thresholds for NAV purchases of its fixed income and absolute return funds. Effective April 5, those products can be purchased at NAV without a sales charge when investments of at least half a million dollars are made.

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