Putnam Investment Management, LLC has launched a closed-ended balanced income mutual fund called the High Income Securities Fund. Managed in collaboration with Putnam Investments Limited, the fund focuses on fixed income markets within the United States, while additionally investing in a diversified range of sectors. The fund also invests in convertible bonds and convertible preferred stocks. In order to ascertain its portfolio's performance, the fund utilizes a composite index comprised of 50% JPMorgan Developed High Yield Index and 50% BofA Merrill Lynch AllConvertibles Speculative Quality Index. Previously known as Putnam High Income Securities Fund, the High Income Securities Fund was established on July 9, 1987, and is based in the United States.