The term
"applicable sales charge" refers to a fee that is charged when an investor buys or redeems mutual fund shares.
Full definition
Performance for class B, C, M, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, which are based on the historical performance of class B shares).
Performance for class B, C, M, R, T, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, which are based on the historical performance of class B shares).
Index returns do not reflect the effect of
any applicable sales charges, commissions, expenses, taxes or leverage, as applicable.
Performance for class Y shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.
Performance for class B, C, M, R, T1, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and, except for class Y and T1 shares, the higher operating expenses for such shares (with the exception of Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, which are based on the historical performance of class B shares).
Performance for class T shares prior to their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and the higher operating expenses for such shares (with the exception of Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, which are based on the historical performance of class B shares).
Performance for class C shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.
Performance for class B shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.
Performance for class R shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.
For Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, performance for class M shares prior to their inception is derived from the historical performance of class B shares (inception 9/8/85), adjusted for
the applicable sales charge.
Index returns do not reflect the effect of
any applicable sales charges, commissions, expenses, or taxes, as applicable.
Performance for class B, C, M, R, T, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares).
Performance for B, C, M, R, and T1 shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.
Investors can withdraw their money from a mutual fund by selling, or redeeming, all or part of their mutual fund units on any business day at the net asset value (less
any applicable sales charges).
Performance for MainStay Large Cap Growth Fund Class A shares includes the historical performance of FMI Winslow Growth Fund from inception (7/1/95) through 3/31/05 adjusted to reflect
the applicable sales charge and fees and expenses.
This amount is equal to the market value of the segregated fund, less
any applicable sales charges or administrative fees.
Morningstar Rating ™ is calculated for funds with at least a 3 - year history, based on a risk - adjusted return measure (excluding
any applicable sale charges) and accounts for variations in a fund's monthly performance.
Prior returns are adjusted to reflect
any applicable sales charge (but were not adjusted for other expenses).
Performance shown p rior to the inception of the A shares is adjusted to reflect
any applicable sales charge, but not adjusted for other expenses.
It assumes reinvestment of dividends and capital gains but does not reflect the effect of
any applicable sales charge or redemption fees.
Index returns do not reflect the effect of
any applicable sales charges, commissions, expenses, taxes or leverage, as applicable.
The cost may be adjusted for
any applicable sales charges or transaction fees.
Performance for class B, C, M, R, T, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, which are based on the historical performance of class B shares).
Please see each fund's prospectus for
the applicable sales charge.
For Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, performance for class M shares prior to their inception is derived from the historical performance of class B shares (inception 9/8/85), adjusted for
the applicable sales charge.
Performance for class B shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.
Performance for class B, C, M, R, T1, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and, except for class Y and T1 shares, the higher operating expenses for such shares (with the exception of Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, which are based on the historical performance of class B shares).
A shareholder who has redeemed shares of a fund can reinvest the proceeds in the same class of the fund within 90 days, with
no applicable sales charge.
Both annual and cumulative figures include reinvestment of dividends and capital gains, but do not reflect the effect of
any applicable sales charges or redemption fees, which would lower performance figures.
Performance for class C shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.
Performance for class T shares prior to their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and the higher operating expenses for such shares (with the exception of Putnam Tax - Free High Yield Fund and Putnam AMT - Free Municipal Fund, which are based on the historical performance of class B shares).
Figures include reinvestment of dividends and capital gains, but do not reflect the effect of
any applicable sales charges or redemption fees, which would lower these figures.
Performance for class R shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.
Performance for class Y shares before their inception is derived from the historical performance of class A shares, adjusted for
the applicable sales charge (or CDSC) and higher operating expenses for such shares.