I have added the following fund to client portfolios. This is a newer fund so I shall watch it closely. It is designed to deliver a total retrun that is 3% over the current US Treasury bill rate. It is a short term position I intend to hold while the market is in a trading range (trendless).
Putnam Absolute Return 300 Y (PYTRX)
(The fund seeks to deliver an annualized gain of 300 basis points (or 3 percentage points) over the Merrill Lynch U.S. Treasury Bill Index.)