California Class C Distribution Plan and Agreement is a contractual arrangement between Putnam Mutual Funds Corp and Putnam High Yield Trust II that outlines the distribution strategy for Class C shares of the mutual fund within the state of California. The agreement determines the terms and conditions under which these shares are sold, marketed, and distributed to potential investors. The California Class C Distribution Plan and Agreement caters specifically to the unique requirements and regulations imposed by the state of California. It ensures compliance with the rules set forth by the California Department of Business Oversight, which oversees the distribution of securities within the state. Under this plan and agreement, Putnam Mutual Funds Corp and Putnam High Yield Trust II offer Class C shares to California residents who are interested in investing in the fund. Class C shares are designed primarily for investors who prefer to pay a contingent deferred sales charge (CDs) upon redemption rather than upfront, as is the case with Class A shares. The California Class C Distribution Plan and Agreement also outlines the compensation structure for brokers and other intermediaries involved in distributing the fund to investors. It establishes the fees and commissions that are to be paid to these parties, ensuring that their services align with the best interests of the investors. Different variations of the California Class C Distribution Plan and Agreement may exist, depending on the specific terms and conditions negotiated between Putnam Mutual Funds Corp and Putnam High Yield Trust II. These variations could include different fee structures or additional provisions to address specific distribution requirements within California. It is important for investors to carefully review the California Class C Distribution Plan and Agreement before investing in Putnam High Yield Trust II's Class C shares. They should consider their investment objectives, risk tolerance, and suitability for these shares, as well as any associated fees, charges, and expenses. In conclusion, the California Class C Distribution Plan and Agreement is an essential cornerstone for the distribution of Putnam High Yield Trust II's Class C shares within California. It ensures compliance with state regulations while providing investors with an opportunity to invest in the fund through a different fee structure.
California Class C Distribution Plan and Agreement between Putnam Mutual Funds Corp and Putnam High Yield Trust II
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Class C shares may be less expensive than Class A or B shares if you have a shorter-term investment horizon because you'll pay little or no sales charge. However, your annual expenses could be higher than Class A shares, and even Class B shares, if you hold your shares for a long time.
Founded in 1937, Putnam is a global asset management firm with $136 billion3 in AUM as of April 2023. Putnam has offices in Boston, London, Munich, Tokyo, Singapore and Sydney.
Franklin Templeton is acquiring Putnam Investments from Great-West Lifeco, a deal that will combine two of the largest asset management firms in the U.S.
Although Putnam Investments itself is not a public company, GWL and Power are traded on the Toronto Stock Exchange.
Putnam Investments ? ETFs, Mutual Funds, Institutional, and 529. Putnam is the only fund family ranked in the top 10 by Barron's across all time periods. Barron's list of Best Fund Families, 2023.
Putnam is headquartered in Boston, Massachusetts and has offices in London, Tokyo, Frankfurt, Sydney, and Singapore.
As a foundation of the partnership, Franklin Templeton has entered into a definitive agreement to acquire Putnam Investments (?Putnam?) from Great-West for approximately $925 million2 of primarily equity consideration.