Putnam Investments Announces Transfer of Closed-End Fund Management Contracts to Franklin Advisers
As part of the Transfer, Franklin Advisers has replaced Putnam Management as the investment adviser of each of these closed-end funds (each, a “fund” and collectively, the “funds”):
-
Putnam Master Intermediate Income Trust
-
Putnam Managed Municipal Income Trust
-
Putnam Municipal Opportunities Trust
-
Putnam Premier Income Trust
Each fund’s portfolio managers have become employees of Franklin Advisers, continuing their integration with the broader fixed income investment team at Franklin Advisers that they have been part of since the closing of Franklin Resources’ acquisition of Putnam Management on
In connection with the Transfer, Putnam Management also transferred to Franklin Advisers the sub-management contract between
The Transfer is not expected to change the funds’ respective investment strategies or the way in which the funds’ assets are managed in any material way, as each fund’s current portfolio managers continue to manage the fund as part of Franklin Advisers. The Transfer is also not expected to materially change the nature or level of services provided to each fund, and will not result in an increase in the fees payable by the fund to its investment manager.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240719873894/en/
PUTNAM SHAREHOLDERS CONTACT: 1-800-225-1581
Source: Putnam Investments