PAFZX

About PAFZX

Putnam Retirement Advantage 2045 Fund Class R is a target-date mutual fund designed for investors planning to begin withdrawals around 2045. Its primary objective is to balance capital appreciation and current income over time through a “glide path” that gradually shifts from growth-oriented assets toward more conservative holdings as the target date approaches. The fund achieves broad diversification by investing primarily in other Putnam mutual funds, with a core allocation to multi-asset strategies such as Putnam Dynamic Asset Allocation Growth and Balanced funds. This structure provides exposure across U.S. and international equities, fixed income, and cash equivalents within a single vehicle, aiming to simplify retirement planning and ongoing allocation decisions. The fund’s role in the market is to serve as a turnkey, professionally managed retirement solution for workplace plans and individual investors, offering automatic rebalancing, systematic risk reduction as retirement nears, and a consistent framework aligned with a specific retirement horizon. According to publicly available profiles, the strategy is categorized in the Target-Date 2045 group and emphasizes ease of use and lifecycle risk management for long-term savers.