![[Joanne M Driscolls avatar]](https://franklintempletonprod.widen.net/content/tp1fvurblb/webp/Driscoll_Joanne_500x500.png){kind=avatar}
Managed Fund Since 2023
Fixed Income
PULTX Putnam Ultra Short MAC Series
- A broader opportunity set. The fund invests in a diversified portfolio composed of short duration, investment-grade money market and other fixed income securities.
- Active risk management. In today's complex bond market, the fund's experienced managers actively manage risk with the goal of superior risk-adjusted performance over time.
- Higher income potential. Access to a wider range of income opportunities means the fund may offer higher income potential than other short-term investments.
Popular Documents
Total Net Assets
$38.59M
As of 12/31/2025 (Updated Monthly)
The MAC Series is available only in a Separately Managed Account (SMA)
Overview
Fund Facts
Fund description
The fund seeks as high a rate of current income as we believe is consistent with preservation of capital and maintenance of liquidity.
- Benchmark
- ICE BofA U.S. Treasury Bill Index
- Fund Inception Date
- 05/25/2023
- Dividend Frequency, if any
- Monthly
Additional Fund Info
- Share Class Inception Date
- 05/25/2023
- Investment Style
- Multi-Sector
- Lipper Classification
- N/A
- Morningstar Category
4 - Ultrashort Bond
Identifiers
- Ticker
- PULTX
- Fund Number
- 5028
- CUSIP Code
- 74676A444
Manager and Commentary
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-drives approach means maintaining portfolio and risk exposures that align with client expectations.
Franklin Templeton Fixed Income
![[Andrew C Bensons avatar]](https://franklintempletonprod.widen.net/content/dnwdsns656/webp/Benson_Andrew_500x500.png){kind=avatar}
Managed Fund Since 2023
![[Michael J Limas avatar]](https://franklintempletonprod.widen.net/content/ijer9koii3/webp/Lima_Michael_500x500.png){kind=avatar}
Managed Fund Since 2023
Latest Insights
January 26, 2026
January 8, 2026
Portfolio
Assets
As of12/31/2025 (Updated Monthly)
- Total Net Assets
- $38.59 Million
Positions
As of 12/31/2025 (Updated Monthly)
Number of Holdings
- Fund
- 285
- Benchmark
- 41
- Fund
- 166
- Benchmark
- 1
Portfolio Statistics
As of 12/31/2025 (Updated Monthly)
Asset Allocation
As of 12/31/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Investment-Grade Corporate Bonds | 75.52% |
Commercial Paper | 16.15% |
Short-Term Asset-Backed Securities | 3.11% |
Asset-Backed Securities | 1.13% |
Net Cash | 3.45% |
Top Fixed Income Issuers
As of 12/31/2025 (Updated Monthly)
| Holdings | Fund |
|---|---|
American Express | 1.46% |
ING | 1.46% |
Alimentation Couche-Tard | 1.45% |
Sumitomo Mitsui Trust Holdings | 1.43% |
Mercedes-Benz | 1.39% |
Morgan Stanley | 1.34% |
ABN AMRO | 1.32% |
La Caixa | 1.31% |
Groupe Credit Mutuel Centre Est Europe | 1.31% |
Credit Agricole | 1.30% |
Distributions & Tax
- Distribution Frequency
- MonthlyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
01/30/2026
Pricing
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Portfolio Holdings - Putnam Ultra Short Mac Series | |||
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Putnam Ultra Short Mac Series - Single Class | |||
| Annual Financial Statements and Other Information - Putnam Ultra Short MAC Series | |||
| Semi-Annual Report - Putnam Ultra Short Mac Series - Single Class | |||
| Semi-Annual Financial Statements and Other Information - Putnam Ultra Short MAC Series | |||
| Prospectus - Putnam Ultra Short Mac Series | |||
| Statement of Additional Information - Putnam Funds Trust | |||
| Fiscal Q1 Holdings - Putnam Funds Trust | |||
| Fiscal Q3 Holdings - Putnam Ultra Short Mac Series |
Risks
All investments involve risks, including possible loss of principal. 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. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus.
Important Information
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
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.
You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.
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.
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.
The ICE BofA U.S. Treasury Bill Index is an unmanaged index that tracks the performance of U.S. dollar denominated U.S. Treasury Bills publicly issued in the U.S. domestic market. Qualifying securities must have a remaining term of at least one month to final maturity and a minimum amount outstanding of $1 billion. You cannot invest directly in an index.
The ICE BofA U.S. Treasury Bill Index is an unmanaged index that tracks the performance of U.S. dollar-denominated U.S. Treasury bills publicly issued in the U.S. domestic market. 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.
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.