PMM Research | Milton Maxwell

PMM

Putnam Managed Municipal Income Trust

6.13

+0.01+0.16%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

273.78M

P/E (TTM)

29.19

Basic EPS (TTM)

0.21

Dividend Yield

0.05%

Recent Filings

8-K

Franklin acquires Putnam Holdings

5/31/23May 31, 2023

Franklin Resources announced on May 31, 2023, a definitive agreement to acquire Putnam Holdings from Great-West Lifeco Inc. in a stock and cash deal, making Putnam Management an indirect subsidiary and affecting funds like Putnam Managed Municipal Income Trust. The deal awaits regulatory approvals and is slated for Q4 2023 close. It triggers automatic termination of existing management contracts, requiring board and shareholder approvals for new ones. This shift promises integrated operations but hinges on consents.

8-K

Bylaws amended for flexibility

2/28/23Feb 28, 2023

Putnam Managed Municipal Income Trust amended its bylaws on February 23, 2023, adding provisions for a Vice Chair role, clarifying Trustees' discretion on record dates for shareholder meetings, and ensuring proxy validity at adjourned sessions. Trustees also exempted all prior and future share purchases from control share acquisition restrictions under Article 16. These tweaks streamline governance. No financial impacts disclosed.

8-K

Bylaws amended against activists

9/23/20Sep 23, 2020

Putnam Managed Municipal Income Trust amended its bylaws on September 18, 2020, introducing a Control Share Amendment to curb activist investor influence. This provision requires non-interested shareholders to approve voting rights for shares acquired in blocks granting 10% or more voting power in trustee elections. Pre-2020 holdings remain unaffected. It shields the fund's governance from takeovers.

About

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investment grade. The fund benchmarks the performance of its portfolio against the Barclays Municipal Bond Index. Putnam Managed Municipal Income Trust was formed on February 24, 1989 and is domiciled in the United States.

CEO

Mr. Robert Lloyd Reynolds

IPO

2/17/1989

Website

https://www.putnam.com/individual/mutual-funds/closed-end-funds/funds/56-managed-municipal-income-trust

Sector

Financial Services

Industry

Asset Management