Franklin Resources to acquire Putnam Holdings, parent of Putnam Managed Municipal Income Trust's manager

PUTNAM MANAGED MUNICIPAL INCOME TRUST

Franklin Resources (Franklin Templeton) agrees to acquire Putnam Holdings in stock and cash deal; closing expected Q4 2023.
Transaction automatically terminates current Putnam Funds management contract under the 1940 Act.
Board of Trustees will vote on new contract; shareholder approval required for each fund, including PMM.
Putnam Managed Municipal Income Trust (PMM) is one of the affected Putnam Funds.

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