Posted by on Apr 24, 2020 in Articles & Advice, Blog, Books, Columns, Featured |

Image Credit: Alex Nabaum



By Jason Zweig | April 24, 2020 11:01 am ET


Mutual-fund votes are usually pro-forma rituals in which investors do whatever the fund manager asks. An upcoming one at Putnam Investments should have investors asking what the manager has been doing.

On Apr. 15, shareholders in Putnam Capital Spectrum Fund were scheduled to decide on a proposal to merge the mutual fund out of existence after years of dismal performance. The vote, stymied by the coronavirus shutdown, will likely be rescheduled for later this spring.

Putnam launched Capital Spectrum (and a sibling fund, Equity Spectrum) in 2009 with unusual objectives and fees.


To read the rest of the column:


For further reading:


Benjamin Graham, The Intelligent Investor

Jason Zweig,The Devil’s Financial Dictionary

Jason Zweig, Your Money and Your Brain

Jason Zweig, The Little Book of Safe Money


Articles and other resources:

A Fee Structure for Fund Managers Who Put Their Money Where Their Mouth Is

Why Do Mutual Funds Cost So Much?

The Long, Sordid History of High Fees for Low Returns