Franklin Templeton Closed-End Funds Announce Share Repurchases for the First Quarter of 2024
April 19 2024 - 8:00AM
Business Wire
The following Funds announced today their share repurchase
activity during the first quarter of 2024.
Ticker
Fund Name
Share Repurchases (1/1/24 -
3/31/24)
Share Repurchases Since
Inception of Each Fund’s Repurchase Program
PMM
Putnam Managed Municipal Income Trust
586,199
14,637,658
PIM
Putnam Master Intermediate Income
Trust
54,869
32,064,354
PMO
Putnam Municipal Opportunities Trust
903,264
12,932,550
PPT
Putnam Premier Income Trust
72,578
83,289,097
EMF
Templeton Emerging Markets Fund
77,809
2,663,102
MMU
Western Asset Managed Municipals Fund
Inc.
48,906
48,906
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.
About Franklin Templeton
Franklin Resources, Inc. is a global investment management
organization with subsidiaries operating as Franklin Templeton.
For more information about the Funds, please call 1-888-777-0102
or consult the Funds’ website at
www.franklintempleton.com/investments/options/closed-end-funds or
www.putnam.com/individual/mutual-funds/closed-end-funds/, with
respect to the Putnam Funds. Hard copies of the Funds’ complete
audited financial statements are available free of charge upon
request.
Data and commentary provided in this press release are for
informational purposes only.
The Funds’ shares are traded on the New York Stock Exchange.
Similar to stocks, Fund share prices fluctuate with market
conditions and, at the time of sale, may be worth more or less than
the original investment. Shares of closed-end funds often trade at
a discount to their net asset value, and can increase an investor’s
risk of loss. All investments are subject to risk, including the
risk of loss.
This press release contains "forward-looking statements" as
defined under the U.S. federal securities laws. Generally, the
words "believe," "expect," "intend," "estimate," "anticipate,"
"project," "will," and similar expressions identify forward looking
statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual future results to differ
significantly from each Fund’s present expectations or projections
indicated in any forward-looking statements. These risks include,
but are not limited to, changes in economic and political
conditions; regulatory and legal changes; leverage risk; valuation
risk; interest rate risk; tax risk; disruption to investment
advisory, administration and other service arrangements; and other
risks discussed in the Fund’s filings with the Securities and
Exchange Commission. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. The Fund undertakes no obligation to publicly update or
revise any forward-looking statements made herein. There is no
assurance that the Fund’s investment objectives will be
attained.
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY
LOSE VALUE
Category: Corporate Action
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
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