A Different View of Value
The managers of Putnam Tax-Smart Equity Fund (PATSX ) are careful not to pull the trigger on too many portfolio trades. Instead, they seek to avoid generating significant short-term capital gains, which could force shareholders to pay substantial taxes, creating a wide gap between the fund's pretax and aftertax returns.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.