What happened to Putnam Capital Spectrum Fund?

What happened to Putnam Capital Spectrum Fund?

Putnam Capital Spectrum Fund and Putnam Equity Spectrum Fund will be merging into Putnam Focused Equity Fund on 8/21/20. As of August 18, 2020, the fund had net realized and unrealized losses of $0.891 per share, of which $1.756 represents unrealized depreciation of portfolio securities.

What happens when mutual funds merge?

The mergers will not affect a shareholder’s overall cost basis. The shareholder will, however, hold a different number of shares as a result of a merger. Therefore, the shareholder’s overall cost basis will be spread over a different number of shares, which will affect the amount of cost basis allocated to each share.

Is Putnam Investments still in business?

It is a subsidiary of Great-West Lifeco and as of June 2017 managed $183 billion in assets across 80 mutual funds, 100 institutional clients, and 5 million shareholders and participants. It is currently owned by the Power Financial Corporation.

What are capital appreciation funds?

A capital appreciation fund is a fund that invests in assets, such as high-growth and value stocks, expected to aggressively appreciate. Capital appreciation funds carry higher risks but typically offer higher-than-average returns.

What happens to your money when a fund closes?

A closed fund may stop new investment either temporarily or permanently. Closed funds may allow no new investments or they may be closed only to new investors, allowing current investors to continue to buy more shares. Some funds may provide notice that they are liquidating or merging.

What is fund merger?

mutual fund merger means merger of two mutual funds or more into a new mutual fund established to purchase or accept the transfer of assets, rights and duties of former mutual funds as specified in the new fund scheme and the former mutual funds are dissolved; Sample 1. Sample 2.

Who owns Putnam investment?

Canada Life Assurance Company
Great-West LifecoPower FinancialGreat-West Lifeco U.S. LLC
Putnam Investments/Parent organizations

How do capital appreciation bonds work?

A capital appreciation bond, or CAB, is a municipal security on which the interest on principal accrues and compounds until maturity, at which time the investor receives a single payment representing the face value of the bond and all accrued interest.

Which funds take positions that are contrary to the market?

Definition: A contra fund is defined by its against-the-wind kind of investing style. The manager of a contra fund bets against the prevailing market trends by buying assets that are either under-performing or depressed at that point in time.


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