Putnam MN Tax Exempt Income A LW  PXMNX.LW
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni Minnesota Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   5.09 Yrs
   Avg Credit Quality
   AA
As of 2009-09-30
Day Change
$ 0.00
  
NAV (2009-11-20)
$ 8.92
  
YTD Return % (2009-11-20)
14.73%
  
Total Assets ($ mil)
90
View Data Definitions
  Performance    
Growth of $10,000 Fund: Putnam MN Tax Exempt Income A LW
(from 1999-01-01 to 2009-10-31) Category: Muni Minnesota
Index: Barcap Municipal!
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 1989-10-23 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 14.73 12.91 3.63 3.66 4.83 5.38
+/- Category 0.32 -0.92 0.41 0.22 0.03 ---
+/- Barcap Municipal! --- --- --- --- --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 16.31 13.62 4.32 4.01 4.84 5.49
Month-End (as of 2009-10-31) 14.36 14.19 3.59 3.50 4.83 5.38
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 14.19 3.64 3.53 4.85 ---
On Distribution & Sale of Shares --- 10.73 3.68 3.58 4.79 ---
Morningstar Rating --- --- ---
# of compared funds covered (3 yrs : out of 56 funds), (5 yrs : out of 53 funds), (10 yrs : out of 52 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is 1.00%.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 23.45
Advance Refunded 10.36
State Appropriated Tobacco ---
Non-state Appropriated Tobacco ---
Education 13.05
Health 17.70
Housing 18.11
Industrial 2.13
Transportation 1.17
Utilities 2.25
Water/Sewer ---
Misc. Revenue 11.77
Bond Quality % of Bonds
AAA 21.1
AA 37.9
A 22.6
BBB 17.0
BB 0.8
B 0.3
Below B 0.0
Not Rated 0.2
 
Asset Allocation
% of Net Assets
Cash 1.6
Stocks 0.0
Bonds 98.4
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 17
Total Number of Bond Holdings 82 30 Day SEC Yield % 3.30
% of Assets in Top 10 Holdings 26.57 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Hennepin Cnty Minn Sales Tax R Second 5% 2026-12-15 3,855 4,275 4.66
Maple Grove Minn Go Impt B 5% 2022-02-01 2,575 2,920 3.18
Univ Minn Univ Bds 5.75% 2017-07-01 2,160 2,685 2.93
MINNEAPOLIS MINN TAX INCRE 2026-03-01 2,175 2,180 2.38
Buckeye Ohio Tob Settlement Fi Tob 5.75% 2034-06-01 2,300 2,156 2.35
Minnesota St Hsg Fin Agy Residenti 4.9% 2022-07-01 1,995 2,086 2.27
Roseville Minn Indpt Sch Dist 5% 2025-02-01 2,000 2,044 2.23
Minnetonka Minn Indpt Sch Dist 2023-02-01 3,600 2,041 2.23
Minneapolis Minn Ref Bds 5.2% 2024-10-01 2,000 2,000 2.18
Maple Grove Minn Health Care S Hea 5.25% 2037-05-01 2,000 1,984 2.16
Data through 2009-09-30
  Other Information
Fund Inception: 1989-10-23
Portfolio Manager  (Start Date)
Thalia Meehan  (2007-01-30)
Ms. Meehan is a Managing Director and Team Leader of the Tax Exempt team. In addition to managing Putnam's Tax Exempt team, she is a Portfolio Leader of the Tax Exempt Income Fund, the AMT-Free Insured Municipal Fund, and all state funds, including closed-end funds. Ms. Meehan has served on the National Federation of Municipal Analysts' Board of Governors and is a member of Putnam's Diversity Advisory Council, the Boston Municipal Analyst Forum, and the Boston Security Analysts Society, as well as the Society of Municipal Analysts. In 2002, she received the Meritorious Service Award from the NFMA. Ms. Meehan, who joined Putnam's Tax Exempt Bond Group in 1989, is a CFA charterholder, and has 24 years of investment industry experience.
Paul Drury  (2002-07-31)
Mr. Drury is a Senior Vice President and Tax Exempt Specialist on the Tax Exempt Fixed Income team. He is responsible for managing several sectors within the municipal market. He is a Portfolio Leader of the Tax-Free High Yield Fund. He is also a Portfolio Member of the remainder of Putnam's tax-exempt and closed-ended funds. Mr. Drury joined Putnam in 1989 as a Mutual Fund Accountant in the Tax Exempt Accounting Department. A CFA charterholder, he has over 17 years of investment industry experience.
Susan A. McCormack  (2002-07-31)
Ms. McCormack is a Senior Vice President and Tax Exempt Specialist on the Tax Exempt Fixed Income team. She is a Portfolio Member of the tax-exempt fixed income funds. Ms. McCormack joined Putnam in 1994 as an analyst and moved into the role of Portfolio Manager in 1999. She is a CFA charterholder with 19 years of investment experience.
Brad Libby  (2007-01-30)
Mr. Libby is Senior Vice President and Tax Exempt Specialist on the Tax Exempt Fixed Income team. He is a Portfolio Member of Putnam's tax-exempt fixed income funds. He originally joined Putnam in 1996 as an Investment Associate in the Tax Exempt Fixed Income Group before leaving to pursue an M.B.A.; he returned as a Tax Exempt Bond Analyst in 2001. Mr. Libby has nine years of investment industry experience.
Sales Charge %
(taken from prospectus dated 2009-09-30)
Front: None
Deferred: None
Expense Ratio % 0.88
based on net assets
(taken from annual report dated 2008-05-31)
Correspondence Information

One Post Office Square
Boston,  MA  02109
USA
Telephone:
800-225-1581
617-292-1000
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.