Franklin Templeton Closed-End Funds Announce Approval of Share Repurchase Program
Putnam Managed Municipal Income Trust (PMM)
US:NYSE Investor Relations:
putnam.com/individual/mutual-funds/closed-end-funds/funds/56-managed-municipal-income-trust
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Franklin Templeton announced today that with respect to the four closed-end funds listed below, each of which is managed by Franklin Advisers, Inc. (the “Funds”), the Boards of Trustees of the Funds have authorized the continuation of the Funds’ share repurchase program. The Funds’ share repurchase program allows each Fund, beginning October 1, 2025, to repurchase at a discount to net asset value up to 10% of its outstanding common shares (based on common shares outstanding as of September 30, 2025) in open market transactions.The Funds instituted their share repurchase program in 2005. The share repurchase program is intended to enhance closed-end fund shareholder value, as repurchases made at a discount will have the effect of increasing the net asset value per share of the applicable Fund’s remaining shares. The Trustees authorized the share repurchase program with the belief that repurchases of closed-end fund shares may, at times, represent attracti
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