PNJRX

About PNJRX

Putnam New Jersey Tax Exempt Income Fund is an actively managed municipal bond mutual fund focused on generating income that is exempt from federal and New Jersey state personal income taxes. The portfolio primarily holds investment‑grade New Jersey municipal securities with intermediate‑ to long‑term maturities, and it maintains a policy to invest at least 80% of net assets in tax‑exempt instruments. The fund targets diversified revenue sources across the state’s municipal market—such as general obligation, revenue, and essential‑service bonds—to balance income needs with credit quality considerations. It distributes income monthly and typically emphasizes high‑quality issuers to manage default risk while navigating interest‑rate sensitivity inherent in longer‑dated munis. The strategy serves investors seeking state‑specific tax efficiency and exposure to New Jersey’s public finance ecosystem, including sectors like transportation, education, healthcare, and utilities. As part of a broader municipal lineup, the fund plays a role in providing state‑level diversification and potential after‑tax income optimization within fixed income allocations.