PAMTX

About PAMTX

Putnam Strategic Intermediate Municipal Fund Class C is a municipal bond mutual fund focused on generating a high level of current income that is exempt from federal income tax, while emphasizing preservation of capital. The portfolio primarily invests in investment‑grade municipal securities and maintains an intermediate interest‑rate profile typical of the muni national intermediate category, which generally targets durations of about four to six years to balance income and interest‑rate sensitivity. The fund allocates across essential public finance sectors such as housing, health care, utilities, transportation, education, and special tax revenue bonds, and diversifies across multiple states including sizable exposures to Texas, New York, California, and Florida. Credit quality skews toward higher‑grade tiers, with substantial weight in AA and A ratings alongside selective BBB exposure to enhance income. Class C shares include a distribution structure specific to this share class and typically convert to Class A after an established holding period, affecting long‑term cost considerations. The strategy aims to deliver federally tax‑exempt income through active research‑driven security selection and broad sector and state diversification.