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Important Information

Collective Investment Trusts (CITs) are available only to qualified retirement plans, such as 401(k) defined contribution plans and governmental plans.

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Fixed Income

Putnam Stable Value Fund

  • Stability. Seeks to maintain the stability of a money market fund while offering returns similar to those of intermediate-term bonds.
  • Liquidity. Liquidity, stability, and consistency are essential to the portfolio construction process, which emphasizes diversifying the sources of returns, industries, and issuers within the portfolio.
  • Diversification. Utilizes multiple stable value investment options, including cash alternatives, traditional GICs, and wrapped, actively managed strategies.

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NAV $0.00(0.00%)
$1.00
As of 03/09/2026
YTD Total Returns At NAV 1
0.74%

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Collective Investment Trusts (CITs) are available only to qualified retirement plans, such as 401(k) defined contribution plans and governmental plans.
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Overview

Fund Facts

Fund description

The fund seeks to preserve principal and achieve high current income through a diversified portfolio of high-quality investment contracts.

Benchmark
ICE BofA U.S. 3-Month Treasury Bill Index
Fund Inception Date
02/28/1991
Total Net AssetsAs of 01/31/2026 (Updated Monthly)
$17.68 Billion

Expenses & Fees

As of 12/31/2024
Gross Expense Ratio2
0.27%
Net Expense Ratio2
0.27%

Identifiers

Ticker
N/A
CUSIP Code
74686Q801

Average Annual Total Returns

View performance section for additional info As of 01/31/2026

15bps

  • 4.01%1 Year
  • 3.82%3 Years
  • 3.26%5 Years
  • 2.76%10 Years
  • 4.15%Since Inception
    02/28/1991

Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.

Additional Fund Info

Share Class Inception Date
02/28/1991
Investment Style
Multi-Sector
Morningstar Category3
Stable Value

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Manager

About the Team

Franklin Templeton Fixed Income

A global leader in fixed income, the team strives to provide consistent and resilient returns by combining deep fundamental research with rigorous portfolio construction. This solutions-driven approach means maintaining portfolio and risk exposures that align with client expectations.

Franklin Templeton Fixed Income
[Jo Anne Ferullos avatar]

Managed Fund Since 2022

[Steven A Horners avatar]

Managed Fund Since 2003

[Michael V Salms avatar]

Managed Fund Since 2024

[Andrew C Bensons avatar]

Managed Fund Since 2021

Portfolio Manager Profile
Years of Experience
Manager Location

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Performance

Calendar Year Returns

As of 01/31/2026

Chart

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The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 0.05 to 5.25.
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15bps (%)
ICE BofA U.S. 3-Month Treasury Bill Index (%)

Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. The fund's investment return and principal value will change with market conditions, and you may have a gain or a loss when you sell your shares. Total returns assume the reinvestment of all distributions and the deduction of all fund expenses. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expense or sales charges. Returns for periods of less than one year are not annualized. 

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Portfolio

Holdings

As of 01/31/2026 (Updated Monthly)

MASS MUTUAL INSURANCE COMPANY 4.​17% 02/02/2049
PACIFIC LIFE INS CO 3.​95% 02/02/2049
AMERICAN GENERAL LIFE INSURANC 4.​2% 02/02/2049
PRUDENTIALLIFE INSURANCE COMP 3.​91% 02/02/2049
NEW YORK LIFE INSURANCE COMPAN 4.​3% 02/02/2049
SHORT TERM INVESTMENT FUND STIF USD NPV GH5 - PUTNAM MONEY MARKET PORT CLASS P TIS A/C # 39071
CITIBANK N.​A.​ 3.​87% 02/02/2049
AMERICAN UNITED LIFE INSURANCE 3.​76% 02/02/2049
METROPOLITAN TOWER LIFE INSURANCE CO.​ 3.​76% 02/02/2049
Athene Annuity And Life Company 4.​57%

Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security. 

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Distributions & Tax

Distribution Frequency
MonthlyThis fund is an ex-Dividend fund
Capital Gain Distributions
December

Distributions Per Share
Distributions with future dates are estimates and those figures are not final

02/27/2026
01/30/2026
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Pricing

Pricing History

As of 03/09/2026 (Updated Daily)

Chart

Line chart with 5180 data points.
The chart has 1 X axis displaying Time. Data ranges from 1991-02-28 00:00:00 to 2026-03-09 00:00:00.
The chart has 1 Y axis displaying [products.performance-value]. Data ranges from 1 to 1.
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Daily Fund Prices

As of 03/09/2026

Share Prices

As of 03/09/2026

NAV  (Net Asset Value)
$1.00
NAV Change 
$0.00
NAV Change (%) 
0.00%

52-Week Range

Highest NAV As of 03/09/2026
$1.00
Lowest NAV As of 03/10/2025
$1.00

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Documents

Fund Literature
 Name Download Add to Cart
Product Profile - Putnam Stable Value Fund
Quarterly Holdings - Putnam Stable Value Fund
Performance Flyer Putnam Stable Value Fund 100bps
Performance Flyer Putnam Stable Value Fund 15bps
Performance Flyer Putnam Stable Value Fund 20bps
Performance Flyer Putnam Stable Value Fund 35bps
Performance Flyer Putnam Stable Value Fund 45bps
Performance Flyer Putnam Stable Value Fund 50bps
Performance Flyer Putnam Stable Value Fund 75bps
Performance Flyer Putnam Stable Value Fund gross of fees
Product Profile - Quarterly Update Putnam Stable Value Fund
Flyer - Putnam Stable Value Fund - Frequently Asked QuestionsDownload Document
Flyer - Putnam Stable Value Performance Flash Sheet
Regulatory Documents
 Name Download Add to Cart
Annual Report - Putnam Stable Value FundDownload Document
Form - Putnam Collective Investment Trust (CIT) Participation Agreement Request
Form - Putnam Stable Value Fund Plan Withdrawal Notice
Disclosure - DCIO Funds Group Trust Schedule CMailed hardcopies unavailable.Download Document
Disclosure for ERISA 408(b)(2) - Putnam Stable Value Fund (15bps Management Fee)Mailed hardcopies unavailable.Download Document
Certification Letter - Putnam Stable Value FundMailed hardcopies unavailable.Download Document
Offering Statement - Stable Value FundMailed hardcopies unavailable.Download Document

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Risks

All investments involve risks, including possible loss of principal. There can be no assurances that the fund will achieve its goal of capital preservation. The fund’s returns will fluctuate with interest rates and market conditions. The fund is not insured or guaranteed by any governmental agency. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. These and other risks are discussed in the fund’s offering statement.

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Important Information

Retirement Advantage Trusts, Stable Value Funds, U.S. Research Trust, and Large Cap Value Trust are collective trusts managed and distributed by Putnam Fiduciary Trust Company, LLC ("PFTC"), a non-depository New Hampshire trust company. However, it is not FDIC insured; is not a deposit or other obligation of, and is not guaranteed by, PFTC or any of its affiliates. The fund is not a mutual fund registered under the Investment Company Act of 1940, and its units are not registered under the Securities Act of 1933. The fund is only available for investment by eligible, qualified retirement plan trusts, as defined in the declaration of trust and participation agreement.

The offering document includes investment objectives, risks, charges, expenses, and other information that you should read and consider carefully before investing.

Putnam Fiduciary Trust Company and Putnam Investments are Franklin Templeton companies. Services offered by Franklin Distributors, LLC. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

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Important data provider notices and terms available at www.franklintempletondatasources.com.

Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. 

The ICE BofA 3-Month U.S. Treasury Bill Index is an unmanaged index that comprises a single U.S. Treasury issue with approximately three months to final maturity, purchased at the beginning of each month and held for one full month.
Source: The index data referenced herein is the property of Intercontinental Exchange ("ICE") and/or its licensors and has been licensed for use by Franklin Templeton. ICE and its licensors accept no liability in connection with this use.

Footnotes

  1. Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.

  2. Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most offering statement or annual report.

  3. ©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.