Putnam Diversified Income
Objective And StrategyObjective
As high a level of current income as Putnam Investment Management, LLC believes is consistent with preservation of capital.
Invest mainly in bonds that are securitized debt instruments (such as mortgage-backed investments) and other obligations of companies and governments worldwide, are either investment-grade or below investment-grade (sometimes referred to as "junk bonds") and have intermediate- to long-term maturities (three years or longer).
Tax Inefficient Fund
Asset classes that make large ordinary income distributions or generate significant short term capital gains are tax inefficient. Asset classes that match this description include REITs, commodities funds and absolute return funds.