The following Funds announced today their share repurchase activity during the second quarter of 2024.
PMM – Putnam Managed Municipal Income Trust 830,197 – 16,054,054
PIM – Putnam Master Intermediate Income Trust 99,262 – 32,218,485
PMO – Putnam Municipal Opportunities Trust – 678,351 – 14,514,165
PPT – Putnam Premier Income Trust –
598,186 – 83,959,861
EMF – Templeton Emerging Markets Fund –
115,388 – 2,778,490
MMU – Western Asset Managed Municipals Fund Inc. – 92,881 – 141,787
The Funds seek to enhance shareholder value by repurchasing their common shares when trading at a discount to the Fund’s net asset value (“NAV”) per share. All repurchased shares are canceled and the difference between the purchase price and NAV results in incremental accretion to the Fund’s NAV for all common shareholders.
Each Fund’s Board of Directors/Trustees has authorized each Fund to repurchase shares when they are trading at a discount to NAV. Each Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period.