HIGH INCOME SECURITIES FUND

High Income Securities Fund is a closed-ended balanced income mutual fund. It was launched and is managed by Putnam Investment Management, LLC, with co-management by Putnam Investments Limited. The fund invests in the fixed income markets of the United States, specifically targeting stocks of companies across diversified sectors. Its investments include both convertible bonds and convertible preferred stocks. The fund measures its performance against a composite index, which is made up of 50% JPMorgan Developed High Yield Index and 50% BofA Merrill Lynch AllConvertibles Speculative Quality Index. The fund was established on July 9, 1987, and is based in the United States. It was previously known as Putnam High Income Securities Fund.