C000123523 Fees and Costs — Putnam Intermediate-Term Municipal Income Fund, Class B
Data updated: 2025-07-25
The net expense ratio is 1.50%: a 0.43% management fee, a 0.85% 12b-1 fee plus 0.65% other expenses, less a 0.43% fee waiver. This share class carries a deferred sales charge of up to 5.00%. Portfolio turnover was 18%.
C000123523 Fees and Expenses
Annual operating expenses and sales charges of C000123523. Prospectus, as of March 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | 0.85% |
| Other expenses | 0.65% |
| Gross expense ratio | 1.93% |
| Fee waiver | −0.43% |
| Net expense ratio | 1.50% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 5.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000123523 Costs Over Time
On $10,000 invested in C000123523, assuming 5% a year before costs, total costs come to $929 over 5 years, cutting the return by 1.57% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $517 | $0 | $0 |
| Fund expenses (net expense ratio 1.50%) | $158 | $489 | $843 |
| Lost growth on money paid in costs | $0 | $24 | $86 |
| Total costs | $675 | $513 | $929 |
| Value after costs | $9,825 | $11,063 | $11,834 |
| Impact on return, per year | 6.75% | 1.57% | 1.57% |
C000123523 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $13.6M
- Portfolio turnover (prospectus): 18%
- Securities lending: none during the year
C000123523 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STFL - STIFEL, NICOLAUS & COMPANY INCORPORATED | $1.3M | 16.02% |
| BCAP - BARCLAYS CAPITAL, INC. | $1.1M | 12.65% |
| MSCO - MORGAN STANLEY & CO. LLC | $1.0M | 12.48% |
| MLCO - BofA Securities, Inc. | $1.0M | 12.21% |
| TRADEWEB - TRADEWEB | $925K | 11.09% |
| JPMS - J.P. MORGAN SECURITIES, LLC. | $828K | 9.93% |
| WCHV - WELLS FARGO SECURITIES, LLC | $631K | 7.57% |
| SMRD - SUMRIDGE PARTNERS, LLC | $539K | 6.46% |
| JEFF - JEFFERIES LLC | $487K | 5.84% |
| PIPR - PIPER SANDLER | $479K | 5.74% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.