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Putnam Investments's Documents
Putnam Gifting Opportunities in 2012
Gifting opportunities in 2012 With major changes to estate and gift tax rules on the horizon in 2013, affluent investors should consider taking action now to plan a financial legacy. Laws affecting estates and gifts are among many federal tax provisions set to expire at the end of this year. Without congressional action, 2013 may usher in a variety of new tax rates and exemption levels. As a result, right now may be the best time for individuals to take advantage of gifting strategies with the p
Category:FinanceReads:34Uploaded:05 / 22 / 2012ShareAdd to collectionPutnam Business Succession Planning
Business succession planning Strategies for increasing the value of your business and positioning it for the future As a business owner, you know the importance of planning ahead and responding to unexpected daily challenges, but have you prepared your business for its “next generation?” An effective succession plan can provide financial security for you and your family, help you transfer wealth and minimize taxes, strengthen your business, and make it more attractive to potential buyers or lend
Category:FinanceReads:35Uploaded:05 / 22 / 2012ShareAdd to collectionA Call to Action on Retirement Security
Putnam Investments President and CEO Robert L. Reynolds outlines three steps to Americans’ retirement security.
Category:FinanceReads:45Uploaded:05 / 18 / 2012ShareAdd to collectionPutnam Spectrum Fund
Veteran Portfolio Manager David L. Glancy pursues the potential of companies that use debt to achieve their business goals. Find out more about these two entrepreneurial funds.
Category:FinanceReads:32Uploaded:05 / 16 / 2012ShareAdd to collectionPutnam Perspectives: Fixed Income Outlook Q2 2012
Greece defaults, but orderly, well-anticipated restructuring offers reasons for optimism on the situation in Europe. High-yield and RMBS sectors lead market rebound in the United States. Municipal bonds continued to post gains after a handful of high-profile defaults to finish 2011. Emerging-market debt rally may be difficult to sustain over the longer term.
Category:Business/LawReads:465Uploaded:05 / 01 / 2012ShareAdd to collectionPutnam: Capital Markets Outlook Q2 2012
A record drop in volatility does not signal imminent market reversal. Europe’s lag in the rally points to a possible source of weakness. Muted rise in bond yields may reflect economic concerns.
Category:Business/LawReads:49Uploaded:04 / 23 / 2012ShareAdd to collectionPutnam Spectrum Funds Q&A Q1 2012
In a positive first quarter for equities, the stocks of leveraged companies performed well. Following the first quarter’s run-up, Putnam Spectrum Funds Portfolio Manager David Glancy is exercising patience in locating emerging valuation opportunities. Looking forward, David Glancy sees bank debt and high-yield bonds as less attractive relative to leveraged-company equities.
Category:Business/LawReads:178Uploaded:04 / 20 / 2012ShareAdd to collectionPutnam International Capital Opportunities Fund Q&A Q1 2012
Stock market correlations fell in the first quarter, reflecting a decrease in investor risk aversion. European small and mid caps exhibited attractive valuations in the fourth quarter of 2011, setting up select companies to outperform in the first quarter of 2012. Consumer discretionary stocks and other economically sensitive sectors currently represent some of the most attractive investment opportunities, according to the managers of Putnam International Capital Opportunities Fund. Key risks to international stocks include the possibility of a sharp economic slowdown in China.
Category:Business/LawReads:148Uploaded:04 / 20 / 2012ShareAdd to collectionPutnam Voyager Fund Q&A Q1 2012
As macroeconomic worries receded and the market refocused on fundamentals, there was a sharp comeback in performance for the types of stocks I currently have targeted for the fund. The fund’s growth and valuation metrics, while not as attractive as they were at their peaks, remain compelling. The portfolio continues to offer higher projected growth rates and lower valuations than the Russell 1000 Growth Index. In the first quarter, the valuation gap between cyclical and defensive stocks closed somewhat, but opportunities remain for active managers to capitalize on cyclical stocks. While we are unlikely to see earnings growth rates as high as they were last year, I believe the level of corporate earnings remains the number-one positive factor for the U.S. equity market today.
Category:Business/LawReads:124Uploaded:04 / 20 / 2012ShareAdd to collectionPutnam Absolute Return Funds Q&A Q1 2012
Putnam Absolute Return Funds have had a strong start in 2012, posting some of their best quarterly returns since inception, while maintaining the low-volatility profiles they have become known for. The funds benefited from improved performance across a range of investments, including non-agency residential mortgage-backed securities [RMBS], commercial mortgage-backed securities [CMBS], and corporate bonds. Despite a decline in macro risks thus far in 2012, higher energy prices and Europe’s ongoing structural reform challenges give investors reason for caution and downside portfolio protection.
Category:Business/LawReads:164Uploaded:04 / 20 / 2012ShareAdd to collection
