Putnam Retirement Advantage 2025 Fund
Data updated: 2025-07-25
C000216900 — Putnam Retirement Advantage 2025 Fund. Target Date / Glide Path Allocation · $22.01M AUM. Holdings, fees, performance and SEC filings.
C000216900 Fund Overview
Putnam Retirement Advantage 2025 Fund is a US mutual fund managed by Putnam Target Date Funds, categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Putnam Target Date Funds
- Category: Target Date / Glide Path Allocation
- Assets under management: $22.01M
- 1-year return: 6.4%
- SEC CIK: 0001295293
- SEC series ID: S000067464
- Share class ID: C000216900
C000216900 Investment Objective and Strategy
Putnam Retirement Advantage 2025 Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Putnam Target Date Funds.
Investment objective
Putnam Retirement Advantage 2025 Fund seeks capital appreciation and current income consistent with a decreasing emphasis on capital appreciation and an increasing emphasis on current income as it approaches its target date.
Principal investment strategy
Investments The funds asset allocation strategy may be attractive to investors who plan to retire or otherwise intend to begin making periodic withdrawals of their investments in or about 2025 (the target date). The fund is designed to provide diversification among different asset classes by investing its assets in other Putnam mutual funds, referred to as underlying funds. The funds target allocations among asset classes and underlying funds will increasingly emphasize capital preservation and income over time and will change gradually based on the number of remaining years until the funds target date, as shown in the predetermined glide path in the chart under What are the funds and each underlying funds main investment strategies and related risks? . Franklin Advisers, Inc. (Franklin Advisers or the Investment Manager) adjusts these allocations at the end of each calendar quarter based on the glide path.
The following table presents your funds approximate allocations to each asset class and underlying fund as of December 31, 2024 and its projected approximate allocations to these asset classes and underlying funds as of December 31, 2025. By comparing the percentage allocations of your fund in the table, you can see how its allocations are expected to change during the one-year period beginning on December 31, 2024. The table also shows the approximate allocations of other Putnam Retirement Advantage Funds, which are designed for investors with different target retirement dates. Over a five-year period, each funds allocations will gradually change to resemble the allocations of the fund with the next earliest target date. The table illustrates how a funds allocations are expected to change over time to increasingly emphasize capital preservation and income.
Underlying Fund* Year 2065 2060 2055 2050 2045 2040 2035 2030 2025 (your fund) Maturity Fund Putnam Dynamic Asset Allocation Equity Fund 2024 78.0% 62.8% 39.0% 15.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2025 78.0% 59.9% 35.2% 12.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Putnam Dynamic Asset Allocation Growth Fund 2024 21.5% 36.7% 60.5% 83.8% 92.7% 51.8% 0.0% 0.0% 0.0% 0.0% 2025 21.5% 39.6% 64.3% 86.6% 89.5% 44.8% 0.0% 0.0% 0.0% 0.0% Putnam Dynamic Asset Allocation Balanced Fund 2024 0.0% 0.0% 0.0% 0.0% 4.8% 44.8% 92.9% 30.1% 2.5% 0.0% 2025 0.0% 0.0% 0.0% 0.0% 7.8% 51.7% 87.1% 19.7% 0.6% 0.0% Putnam Dynamic Asset Allocation Conservative Fund 2024 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 1.1% 47.9% 9.8% 0.0% 2025 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 4.0% 56.0% 2.5% 0.0% Putnam Short Term Investment Fund 2024 0.5% 0.5% 0.5% 1.0% 2.5% 3.4% 4.5% 5.8% 6.0% 6.0% 2025 0.5% 0.5% 0.5% 1.2% 2.7% 3.5% 4.7% 6.0% 6.0% 6.0% Putnam Multi-Asset Income Fund 2024 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 1.5% 16.2% 81.7% 94.0% 2025 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 4.2% 18.3% 90.9% 94.0% Equity** 2024 95.2% 92.2% 87.4% 82.2% 77.0% 68.3% 56.5% 36.8% 26.5% 25.4% 2025 95.2% 91.6% 86.6% 81.5% 76.3% 66.9% 54.6% 33.6% 25.7% 25.4% Fixed Income** 2024 4.8% 7.8% 12.6% 17.8% 23.0% 31.7% 43.5% 63.2% 73.5% 74.6% 2025 4.8% 8.4% 13.4% 18.5% 23.7% 33.1% 45.4% 66.4% 74.3% 74.6% * Due to rounding, allocations shown in the table above may not total 100%.
In addition, because of rounding in the calculation of allocations among underlying funds and market fluctuations, actual allocations might be more or less than these percentages. ** Equity and fixed income allocations are hypothetical estimates based on each Putnam Dynamic Asset Allocation Funds and Putnam Multi-Asset Income Funds current strategic allocation to equity and fixed income investments as set forth under What are the funds and each underlying funds main investment strategies and related risks?, and an assumption that Putnam Short Term Investment Fund is equivalent to a fixed income investment. The managers of the underlying funds may adjust those funds allocations among asset classes from time to time consistent with their investment goals, and, consequently, actual allocations will vary.
The funds target allocations may differ from the allocations shown in the table. We may change the glide path, the funds target allocations, and the underlying funds in which it invests at any time, although we expect these changes to be infrequent and generally in response to longer-term structural changes (i.e., in the average retirement age or life expectancy) that lead the funds portfolio managers to determine that a change is advisable. We assume investors will begin gradual withdrawals from the fund at or around the target date. Near the end of the target date year, the funds target allocations will correspond to those of Putnam Retirement Advantage Maturity Fund (Maturity Fund), a fund that seeks as high a rate of current income as the Investment Manager believes is consistent with preservation of capital, and the fund will be merged into Maturity Fund.
More information about Maturity Fund is available in this prospectus beginning on page 74, and more information about the underlying funds (which are not offered by this prospectus) is included under What are the funds and each underlying funds main investment strategies and related risks? .
C000216900 Holdings
Top 4 holdings of Putnam Retirement Advantage 2025 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Putnam Multi-Asset Income Fund | 84.66% |
| Putnam Dynamic Asset Allocation Conservative Fund | 7.43% |
| Putnam Short Term Investment Fund | 5.94% |
| Putnam Dynamic Asset Allocation Balanced Fund | 1.95% |
C000216900 Portfolio Allocation
Asset-class allocation of Putnam Retirement Advantage 2025 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 100.0% |
C000216900 Performance
Total returns for C000216900 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 6.4% |
| 3 years (annualised) | 5.0% |
C000216900 Risk Information
Risk metrics for C000216900, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.1%
C000216900 Costs and Fees
C000216900 costs about $155 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.55%
- Gross expense ratio: 2.67%
- Portfolio turnover: 58%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000216900 Cashflows
Over the 12 months to 2025-05, Putnam Retirement Advantage 2025 Fund had net inflows of $4.27M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-05 | $1.84M |
| 2025-04 | $7.85K |
| 2025-03 | $504.79K |
| 2025-02 | $382.22K |
| 2025-01 | $1.72M |
| 2024-12 | −$757.84K |
C000216900 Debt Constituents
No individual debt constituents are reported in Putnam Retirement Advantage 2025 Fund's latest SEC N-PORT filing.
C000216900 Prospectus and SEC Filings
Official Putnam Retirement Advantage 2025 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-12-26
- Prospectus (485BPOS) — filed 2023-12-29
- Prospectus (485BPOS) — filed 2022-12-27
- Portfolio holdings (N-PORT) — filed 2025-07-25
- Portfolio holdings (N-PORT) — filed 2025-04-29
- Portfolio holdings (N-PORT) — filed 2025-01-28
- Annual census (N-CEN) — filed 2024-11-13
- Annual census (N-CEN) — filed 2023-11-13
Related Funds
Other Target Date / Glide Path Allocation 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.