Putnam Tax Exempt Income APTAEX

At Putnam Tax Exempt Income, it's all about the middle.

One could imagine taking the metaphor too far, but it's essentially true here. From a credit breakdown whose components hover around the category averages to the placement of bonds in different tenors along the maturity spectrum, the funds traits are very similar to its peers'.  Read more 

This fund's management team follows a fairly straightforward approach. It typically keeps the fund's duration within plus or minus 5% of a custom peer group, while looking to add value by taking on credit risk and by rotating among different sectors and maturities.  Read more 

Paul Drury, Susan McCormack, Thalia Meehan, and Brad Libby manage this fund. Each member is responsible for certain sectors of the municipal-bond market. Meehan (leader of the group) and Libby joined the fund in 2006, while McCormack and Drury joined in 2002.  Read more 

Steady results have long been the name of the game for this fund. The current management team has done a good job of weathering the losses of a few senior team members as well as tumultuous recent market conditions.  Read more