6.2 in Muni Single State Interm
U.S. News evaluated 70 Muni Single State Interm Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
| Scorecard | |
|---|---|
| Morningstar | 3 / 5 Stars |
| Lipper | 5 5 3 2 4 |
| Zacks Investment Research | 3 (Hold) |
| Standard & Poor's | 3 / 5 Stars |
| TheStreet.com | C (Hold) |
Fund Overview
The investment seeks as high a level of current income exempt from federal income tax and Michigan personal income tax as the fund manager believes is consistent with preservation of capital. The fund invests mainly in bonds that pay interest that is exempt from federal income tax and Michigan personal income tax (but that may be subject to federal alternative minimum tax (AMT)), are investment-grade in quality, and have intermediate- to long-term maturities (three years or longer).
| Trailing Returns | Updated 03.31.2012 |
|---|---|
| Year to date | 1.2% |
| 1 Year | 12.0% |
| 3 Years (Annualized) | 7.8% |
| 5 Years (Annualized) | 4.8% |
| 10 Years (Annualized) | 4.6% |
Performance
The fund has returned 11.96 percent over the past year, 7.77 percent over the past three years, 4.80 percent over the past five years, and 4.64 percent over the past decade.
Hypothetical Growth of $10,000
Updated 03.31.2012
Holdings
Asset Allocation
| % Long | % Net | |
|---|---|---|
| Cash | 0.87 | 0.87 |
| Stocks | 0.0 | 0.0 |
| Bonds | 98.21 | 98.21 |
| Other | 0.91 | 0.91 |
| Foreign Bonds | 0.0 | 0.0 |
| Foreign Stocks | 0.0 | 0.0 |
| Convertible | 0.0 | 0.0 |
| Preferred | 0.0 | 0.0 |
Updated 12.31.2011
Top Holdings
Performance as of 03.31.2012
Portfolio as of 12.31.2011
| % Net Assets | |
|---|---|
| Michigan St Strategic Fd Ltd O Rev 5.75% | 5.01 |
| Detroit/Wayne Cnty Mich Stad A Sta 5.25% | 4.06 |
| Michigan Higher Ed Facs Auth | 3.96 |
| Michigan St Bldg Auth 6% | 2.95 |
| Gibraltar Mich Sch Dist 5% | 2.86 |
Fees
Putnam Michigan Tax Exempt Income Fund has an expense ratio of 0.83 percent.
