Putnam AMT-Free Municipal Fund
Data updated: 2026-09-25
C000010817 — Putnam AMT-Free Municipal Fund. Long Municipal - National Bond · $2.48B AUM · 1.65% expense ratio. Holdings, fees, performance and SEC filings.
C000010817 Fund Overview
Putnam AMT-Free Municipal Fund is a US mutual fund managed by Putnam Tax Free Income Trust, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Putnam Tax Free Income Trust
- Category: Long Municipal - National Bond
- Assets under management: $2.48B
- 1-year return: 5.4%
- SEC CIK: 0000771951
- SEC series ID: S000003860
- Share class ID: C000010817
C000010817 Investment Objective and Strategy
Putnam AMT-Free Municipal Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Putnam Tax Free Income Trust.
Investment objective
Putnam AMT-Free Municipal Fund seeks high current income exempt from federal income tax.
Principal investment strategy
Investments We invest mainly in bonds that pay interest that is exempt from federal income tax, are investment-grade in quality, and have intermediate- to long-term maturities ( i.e ., three years or longer). The fund does not intend to invest in securities the interest on which is subject to the alternative minimum tax (AMT). Under normal circumstances, we invest at least 80% of the funds net assets in tax-exempt investments. Tax-exempt investments are issued by or for states, territories or possessions of the United States or by their political subdivisions, agencies, authorities or other government entities, and the income from these investments is exempt from federal income tax. This investment policy cannot be changed without the approval of the funds shareholders. We may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments.
C000010817 Holdings
Top 10 holdings of Putnam AMT-Free Municipal Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Putnam Short Term Investment Fund | 4.37% |
| Texas Transportation Finance Corp. | 1.47% |
| Energy Southeast A Cooperative District | 1.13% |
| Main Street Energy, Inc. | 1.05% |
| Kentucky Public Energy Authority | 0.91% |
| Kentucky Public Energy Authority | 0.87% |
| Colorado Health Facilities Authority | 0.84% |
| Southeast Energy Authority A Cooperative District | 0.81% |
| Energy Southeast A Cooperative District | 0.77% |
| New Caney Independent School District | 0.75% |
C000010817 Portfolio Allocation
Asset-class allocation of Putnam AMT-Free Municipal Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 97.0% |
| Other | 4.4% |
| Securitized | 1.1% |
| Cash & Equivalents | 0.5% |
C000010817 Performance
Total returns for C000010817 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.1% |
| 1 year | 5.4% |
| 3 years (annualised) | 3.1% |
| 5 years (annualised) | 0.8% |
C000010817 Risk Information
Risk metrics for C000010817, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.6%
C000010817 Costs and Fees
C000010817 costs about $165 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.65%
- Gross expense ratio: 1.65%
- Portfolio turnover: 41%
- Brokerage commissions: 0.15 bps of average net assets (SEC N-CEN)
C000010817 Cashflows
Over the 12 months to 2026-04, Putnam AMT-Free Municipal Fund had net inflows of $354.66M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $40.87M |
| 2026-03 | $45.67M |
| 2026-02 | $38.85M |
| 2026-01 | −$196.12M |
| 2025-12 | $64.17M |
| 2025-11 | $36.98M |
C000010817 Debt Constituents
Largest debt holdings of Putnam AMT-Free Municipal Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Texas Transportation Finance Corp. | 1.47% |
| Energy Southeast A Cooperative District | 1.13% |
| Main Street Energy, Inc. | 1.05% |
| Kentucky Public Energy Authority | 0.91% |
| Kentucky Public Energy Authority | 0.87% |
| Colorado Health Facilities Authority | 0.84% |
| Southeast Energy Authority A Cooperative District | 0.81% |
| Energy Southeast A Cooperative District | 0.77% |
| New Caney Independent School District | 0.75% |
| Dallas Fort Worth International Airport | 0.75% |
C000010817 Prospectus and SEC Filings
Official Putnam AMT-Free Municipal Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-11-24
- Prospectus (485BPOS) — filed 2024-11-26
- Prospectus (485BPOS) — filed 2023-11-27
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-24
- Portfolio holdings (N-PORT) — filed 2026-03-27
- Annual census (N-CEN) — filed 2025-10-10
- Annual census (N-CEN) — filed 2023-10-04
Related Funds
Other Long Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.