Franklin Templeton Closed-End Funds Announce Share Repurchases for the First Quarter of 2024
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.
Lesen Sie auch
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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