Putnam Investments has significantly reduced the expense ratios on its four absolute return funds since they now have more than $2.6 billion in assets, Putnam announced Monday.
The reductions, ranging from 18% to 54%, bring the total expense caps between 40 basis points and 1.10%. The Absolute Return 100 Fund now charges 40 BPS. The Absolute Return 300 Fund now has a total expense cap of 60 BPS. The Absolute Return 500 Fund charges 90, and the Absolute Return 700 Fund, the most expensive, costs 1.1%.