Franklin Templeton Announces 19(a) Notices for Closed-End Municipal Funds: PMM and PMO Distribution Sources

Franklin Templeton has announced 19(a) notices for Putnam Managed Municipal Income Trust (PMM) and Putnam Municipal Opportunities Trust (PMO). The notices provide further details on the sources of the funds' monthly distributions and follow the most recent distribution announcement. The table below provides an estimate of the sources of the funds' current distribution and its cumulative distributions paid this fiscal year-to-date.

Franklin Templeton has released 19(a) notices for Putnam Managed Municipal Income Trust (PMM) and Putnam Municipal Opportunities Trust (PMO), providing further details on the sources of the funds' monthly distributions. These notices follow the most recent distribution announcement and offer insights into the funds' performance.

The table below provides an estimate of the sources of the funds' current distribution and their cumulative distributions paid this fiscal year-to-date:

| Ticker | Time Period | Per Share Distribution (Jun.) | Net Investment Income | Short-term Capital Gains | Long-term Capital Gains | Return of Capital |
| --- | --- | --- | --- | --- | --- | --- |
| PMM (FYE 10/31) | Current month | $0.0265 | $0.0250 | - | - | $0.0015 |
| | Fiscal YTD | $0.1958 | $0.1674 | - | - | $0.0284 |
| PMO (FYE 4/30) | Current month | $0.0393 | $0.0358 | - | - | $0.0035 |
| | Fiscal YTD | $0.0786 | $0.0694 | - | - | $0.0092 |

The estimates indicate that the majority of distributions are from net investment income, with a small portion being returns of capital. The table also provides information regarding the funds' total return performance for various periods:

| Ticker | Annualized Cumulative 5-year | Current Fiscal | Fiscal YTD |
| --- | --- | --- | --- |
| PMM (FYE 10/31) | 1.49% | -3.76% | 4.54% |
| PMO (FYE 4/30) | 0.84% | 0.58% | 4.37% |

Performance figures include the deduction of management fees and administrative expenses, assume reinvestment of distributions, and do not account for taxes.

The notices emphasize that the amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources 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.

Investors are advised not to draw 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.

Franklin Templeton 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.

References:
[1] https://www.businesswire.com/news/home/20250606160598/en/Franklin-Templeton-Announces-Distribution-Rates-for-Putnam-Closed-End-Funds
[2] https://www.businesswire.com/news/home/20250606593839/en/Franklin-Templeton-Announces-19a-Notices-for-Closed-End-Municipal-Funds
[3] https://seekingalpha.com/news/4455612-franklin-resources-estimates-sequential-rise-yy-fall-in-may-aum
[4] https://www.stocktitan.net/news/PMM/franklin-templeton-announces-19-a-notices-for-closed-end-municipal-vwqku63z2siq.html