Putnam launches Emerging Markets Income Fund with five share classes

By Toni Weeks

San Luis Obispo, Calif. March 18 - Putnam Funds Trust announced in a Form N-1A filing with the Securities and Exchange Commission the launch of its new Putnam Emerging Markets Income Fund.

The fund seeks high current income with capital growth as a secondary goal by investing mainly in bonds that are obligations of emerging market companies and governments. Bonds may be denominated in dollars or foreign currencies.

Paul Scanlon, Michael Atkin and Kevin Murphy are the portfolio managers.

The fund launched with class A, class B, class C, class M and class Y shares. Ticker symbols are PEMWX, PEMHX, PEMJX, PEMKX and PEMOX, respectively.

Shareholder fees consist of a 4% maximum sales charge for class A shares and 3.25% for class M shares. There is a maximum deferred sales charge of 1% for class A and class C shares, 5% for class B shares and 0.4% for class M shares. Class B's deferred sales charge will be phased out over six years, and that of class C shares will be eliminated after one year.

Management fees will be 0.73%. Including the effects of a fee waiver agreement with the investment adviser, the total annual fees are expected to be 1.25% for class A, 2% for class B and class C, 1.5% for class M and 1% for class Y shares.

Boston-based Putnam Investment Management, LLC is the funds' investment adviser.

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