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Managed Fund Since 2021
Multi-Asset
Putnam Multi-Asset Income Fund
- Diversified income sources. Invests across global markets, including U.S. and international stocks and investment-grade, mortgage-backed, high-yield, and emerging market bonds.
- Tactical flexibility. Employs dynamic asset allocation and active security selection in pursuit of stable monthly income.
- Experienced team. Managed by Putnam's tenured Global Asset Allocation team, which has experience leading asset allocation strategies since 1994 and multi-asset income strategies since 2008.
Popular Documents
Total Net Assets
$228.94M
As of 10/31/2025 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund seeks total return consistent with conservation of capital. Within the fund's total return orientation, the fund seeks to provide current income, along with long-term capital appreciation. It invests across global markets, including U.S. and international stocks and investment-grade, mortgage-backed, high-yield, and emerging market bonds.
- Benchmark
- Putnam Multi-Asset Income Blended Benchmark
- Dividend Frequency, if any
- Monthly
- Distribution Rate at NAV
4 As of 11/26/2025 (Updated Daily) - 3.99%
- Fund Inception Date
- 12/31/2019
Identifiers
- Fund Number
- 5027
- Ticker
- N/A
- CUSIP Code
- 99JP16904
Average Annual Total Returns As of 10/31/2025
Class P
- 10.59%1 Year
- 11.05%3 Years
- 5.75%5 Years
- —10 Years
- 5.38%Since Inception
12/31/2019
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.
Top Asset Allocation
As of 10/31/2025 % of Total (Updated Monthly)
U.S. Investment-Grade Bonds47.57% | |
U.S. Large Cap Equity20.68% | |
Global High-Yield Bonds12.74% | |
International Equity5.10% | |
Emerging Market Bonds4.87% | |
Cash & Cash Equivalents4.77% | |
U.S. Small- and Mid-Cap Equity2.79% |
Additional Fund Info
- Share Class Inception Date
- 12/31/2019
- Investment Style
- Multi-Asset Income
- Lipper Classification
- Mixed-Asset Target Allocation Conservative Funds
- Morningstar Category
3 - Conservative Allocation
Manager and Commentary
About the Team
Franklin Templeton Investment Solutions
Franklin Templeton Investment Solutions (FTIS) is a leader in multi-asset, quantitative, and hedged solutions, leveraging a global network of investment teams to offer innovative and diversified strategies. With a focus on long-term investing, we combine deep research, active management, and data-driven insights to create solutions which seek to meet the evolving needs of investors worldwide.
Franklin Templeton Investment Solutions
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Managed Fund Since 2019
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Managed Fund Since 2025
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Managed Fund Since 2025
Latest Insights
November 7, 2025
October 13, 2025
July 17, 2025
Performance
Average Annual Total Returns
As of 10/31/2025
Selected Month October 2025
Class P - With Sales Charge (POP) (%)
Month End
As of 10/31/2025
Class P - Without Sales Charge (NAV) (%)
Month End
As of 10/31/2025
Putnam Multi-Asset Income Blended Benchmark (%)
Month End
As of 10/31/2025
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 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.
Portfolio
Assets
As of10/31/2025 (Updated Monthly)
- Total Net Assets
- $228.94 Million
Positions
As of 10/31/2025 (Updated Monthly)
Number of Holdings
- Fund
- 1,711
Asset Allocation
As of 10/31/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
U.S. Investment-Grade Bonds | 47.57% |
U.S. Large Cap Equity | 20.68% |
Global High-Yield Bonds | 12.74% |
International Equity | 5.10% |
Emerging Market Bonds | 4.87% |
Cash & Cash Equivalents | 4.77% |
U.S. Small- and Mid-Cap Equity | 2.79% |
Holdings
As of 10/31/2025 (Updated Monthly)
US 2YR NOTE (CBT) DEC25 TUZ5
NVIDIA CORP SEDOL 2379504
APPLE INC SEDOL 2046251
US TREASURY N/B 02.7500 08/15/2042
US 5YR NOTE (CBT) DEC25 FVZ5
US TREASURY N/B 03.0000 02/15/2049
US ULTRA BOND CBT DEC25 WNZ5
US 10YR NOTE (CBT)DEC25 TYZ5
ALPHABET INC-CL A SEDOL BYVY8G0
FNMA FN30 TBA UMBS 06.0000 11/01/2055
Distributions & Tax
Federal ID Number 36-4954293
For information on tax years prior to 2008, please contact usThese amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Data not currently available.
Pricing
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Putnam Multi-Asset Income Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Putnam Multi-Asset Income Fund - Class P | |||
| Annual Financial Statements and Other Information - Putnam Multi-Asset Income Fund | |||
| Semi-Annual Report - Putnam Multi-Asset Income Fund - Class P | |||
| Semi-Annual Financial Statements and Other Information - Putnam Multi-Asset Income Fund | |||
| Prospectus - Putnam Multi-Asset Income Fund | |||
| Summary Prospectus - Putnam Multi-Asset Income Fund | |||
| Statement Of Additional Information - Putnam Multi-Asset Income Fund | |||
| Fiscal Q1 Holdings - Putnam Multi-Asset Income Fund | |||
| Fiscal Q3 Holdings - Putnam Multi-Asset Income Fund |
Risks
All investments involve risks, including possible loss of principal. The allocation of assets among different strategies, asset classes and investments may not prove beneficial or produce the desired results. The investment style may become out of favor, which may have a negative impact on performance. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Active management does not ensure gains or protect against market declines. These and other risks are discussed in the fund's prospectus.
Important Information
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
The Putnam Multi-Asset Income Blended Benchmark is an unmanaged index comprises of 55% Bloomberg U.S. Aggregate Bond Index, 22.5% Russell 3000® Index, 18% JPMorgan Developed High Yield Index, and 4.5% MSCI EAFE Index (NR) Source: Bloomberg Indices, FTSE, JP Morgan and MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.
Net Returns (NR) include income net of tax withholding when dividends are paid.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
Putnam funds are not exchangeable for other funds distributed by Franklin Distributors, LLC.
Franklin Distributors, LLC. Member FINRA/SIPC. Putnam Investment is a Franklin Templeton company. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.