PMICX Fees and Costs — Putnam Multi-Asset Income Fund, Multi-Asset Income Fd CL C
Data updated: 2026-07-27
The net expense ratio is 1.60%: a 0.45% management fee, a 1.00% 12b-1 fee plus 0.36% other expenses, less a 0.22% fee waiver. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $74K in broker commissions, 0.0329% of average net assets, and portfolio turnover was 101%.
PMICX Fees and Expenses
Annual operating expenses and sales charges of PMICX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.36% |
| Gross expense ratio | 1.82% |
| Fee waiver | −0.22% |
| Net expense ratio | 1.60% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
PMICX Costs Over Time
On $10,000 invested in PMICX, assuming 5% a year before costs, total costs come to $1,009 over 5 years, cutting the return by 1.71% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.60%) | $168 | $521 | $897 |
| Trading costs (broker commissions) | $3 | $11 | $18 |
| Lost growth on money paid in costs | $0 | $26 | $93 |
| Total costs | $275 | $558 | $1,009 |
| Value after costs | $10,225 | $11,018 | $11,754 |
| Impact on return, per year | 2.75% | 1.71% | 1.71% |
PMICX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0329%
- Total broker commissions: $74K
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 101%
- Securities lending: none during the year
PMICX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $21K | 28.00% |
| BofA Securities, Inc. | $14K | 19.54% |
| Goldman Sachs & Co. LLC | $10K | 13.20% |
| J.P. Morgan Securities LLC | $8K | 11.35% |
| UBS Securities LLC | $6K | 8.66% |
| Instinet, LLC | $5K | 7.35% |
| Barclays Capital, Inc. | $4K | 6.03% |
| Piper Sandler & Co. | $3K | 4.65% |
| Morgan Stanley & Co. LLC | $675 | 0.92% |
| Cowen and Company | $215 | 0.29% |
PMICX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $426.6M | 29.44% |
| Citigroup Global Markets Inc. | $195.1M | 13.46% |
| Morgan Stanley & Co. LLC | $174.3M | 12.03% |
| Goldman Sachs & Co. LLC | $163.6M | 11.29% |
| Mizuho Securities USA LLC | $144.5M | 9.98% |
| BofA Securities, Inc. | $136.4M | 9.41% |
| Wells Fargo Securities, LLC | $123.9M | 8.55% |
| Barclays Capital, Inc. | $52.6M | 3.63% |
| Daiwa Capital Markets America Inc. | $27.7M | 1.91% |
| Jane Street Execution Services, LLC | $4.2M | 0.29% |
Putnam Multi-Asset Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000217944 | Multi-Asset Income Fd CL P | 0.44% | none |
| PMIVX | Multi-Asset Income Fd CL R6 | 0.48% | none |
| C000236753 | Multi-Asset Income Fd CL R5 | 0.58% | none |
| PMIYX | Multi-Asset Income Fd CL Y | 0.60% | none |
| PMIAX | Multi-Asset Income Fd CL A | 0.85% | 4.00% |
| PMIRX | Multi-Asset Income Fd CL R | 1.09% | none |
| PMICX | Multi-Asset Income Fd CL C | 1.60% | none |
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.