PMOCX

About PMOCX

Putnam Minnesota Tax Exempt Income Fund Class C is a municipal bond mutual fund focused on generating income that is exempt from federal and Minnesota state personal income taxes. Its primary function is to invest in a diversified portfolio of municipal securities issued by Minnesota governmental entities, such as state and local governments and their agencies. The fund is tailored for investors seeking tax-advantaged income, making it particularly relevant for Minnesota residents with higher marginal tax rates. With total assets of approximately $170 million and a minimum investment requirement of $500, the fund pays dividends annually and reports an expense ratio of 1.63%. The securities selected typically support public projects, such as education, healthcare, utilities, and infrastructure within Minnesota, fostering community development while aiming to manage credit and interest rate risk. By offering exposure specifically to Minnesota municipal bonds, the fund serves a specialized role in the municipal bond sector, providing a targeted solution for tax-sensitive investors.