Putnam Investments Announces 19(a) Notices for Closed-End Municipal Funds

Rhea-AI Summary

Putnam Managed Municipal Income Trust (NYSE:PMM) and Putnam Municipal Opportunities Trust (NYSE:PMO) have released their 19(a) monthly distribution notices, providing details on the sources of the funds' monthly distributions. The notices include the estimated sources and percentages of distributions, as well as information on total return performance for various periods.

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• The funds' monthly distribution notices provide transparency and detailed breakdowns of the sources of the distributions, which can be valuable for investors in making informed decisions.
• The estimated sources and percentages of distributions show the allocation of the funds' distributions, providing insight into the income and capital gains generated by the funds.
• The total return performance data for various periods gives investors a comprehensive view of the funds' performance, considering factors such as management fees, administrative expenses, and reinvestment of distributions.

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• None.

BOSTON--(BUSINESS WIRE)-- The 19(a) monthly distribution notices for Putnam Managed Municipal Income Trust (NYSE:PMM) and Putnam Municipal Opportunities Trust (NYSE:PMO) are now available. These informational notices provide further details on the sources of the funds’ monthly distributions and follows the most recent distribution announcement.

The table below provides an estimate of the sources of the Fund’s current distribution and its cumulative distributions paid this fiscal year-to-date. Amounts are expressed on a per share of common stock basis, and as a percentage of the distribution amount.

							Estimated sources & percentages of distributions
Ticker		Time period		Per share distribution (Nov.)			Net investment income			Short-term capital gains			Long-term capital gains			Return of capital				Net investment income			Short- term capital gains			Long- term capital gains			Return of capital
PMM (FYE 10/31)		Current month		$	0.0238		$	0.0178		$	-		$	-		$	0.0060			74.8	%		0.0	%		0.0	%		25.2	%
		Fiscal YTD		$	0.0238		$	0.0178		$	-		$	-		$	0.0060			74.8	%		0.0	%		0.0	%		25.2	%
PMO (FYE 4/30)		Current month		$	0.0350		$	0.0258		$	-		$	-		$	0.0092			73.7	%		0.0	%		0.0	%		26.3	%
		Fiscal YTD		$	0.2450		$	0.1632		$	-		$	-		$	0.0818			66.6	%		0.0	%		0.0	%		33.4	%

The table below provides information regarding distributions and total return performance for various periods.

Data as of 10/31/2023
		Annualized						Cumulative
		5-year			Current			Fiscal			Fiscal YTD
		return			distribution			YTD			distribution
Ticker		at NAV			rate at NAV*			return at NAV			rate at NAV**
PMM (FYE 10/31)		-0.72	%		4.97	%		1.87	%		5.68	%
PMO (FYE 4/30)		0.02	%		4.26	%		-10.07	%		4.26	%

Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes.
*Most recent distribution annualized and divided by NAV at the end of the period.
**Total fiscal period distributions annualized and divided by NAV at the end of the period.

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Distribution Policy.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-Div for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The funds periodically provide fund-related information on their websites. The following information will be available for each fund at putnam.com at the frequencies indicated: (1) Full holdings will be available monthly beginning on the 8^th business day after the end of each month; (2) Top 10 holdings and additional portfolio statistics will be available monthly, approximately 15 days after month-end.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108483596/en/

PUTNAM SHAREHOLDERS CONTACT: 1-800-225-1581

Source: Putnam Investments

FAQ

What are the sources of the monthly distributions for Putnam Managed Municipal Income Trust (NYSE:PMM)?

The sources of the monthly distributions for PMM include net investment income, return of capital, and the percentages of each source.

How does the total return performance look for Putnam Municipal Opportunities Trust (NYSE:PMO)?

The total return performance for PMO shows a positive annualized cumulative 5-year return, although the current fiscal year-to-date return is negative.

What information is provided in the 19(a) monthly distribution notices for PMM and PMO?

The 19(a) monthly distribution notices provide details on the sources and percentages of the funds' monthly distributions, as well as the total return performance for various periods.

What does the table with estimated sources & percentages of distributions show for PMO?

The table shows that the estimated sources of distributions for PMO include net investment income, return of capital, and the percentages of each source.

How is the distribution rate calculated for PMM and PMO?

The distribution rate is calculated by annualizing the most recent distribution and dividing it by the net asset value (NAV) at the end of the period.