If You Invested in Franklin Managed Municipal Income Trust (PMM)
Looking for the current price? See the PMM quote & overviewWhat $1,000 or $10,000 in PMM Would Be Worth Today
Real historical value by amount invested and how long ago| If you invested | 1 year ago | 5 years ago | 10 years ago | Since Jul 21, 2015 |
|---|---|---|---|---|
| $1,000 | $1,134 +13% | $771 -23% | $831 -17% | $930 -7% |
| $10,000 | $11,340 +13% | $7,710 -23% | $8,312 -17% | $9,296 -7% |
Based on real historical closing prices through the latest market close. Past performance does not guarantee future results.
Custom Calculation
Choose your own date and amount for PMM$1,000 Investment Over Time
PMM vs S&P 500Year-by-Year Returns
PMM annual performance| Year | Start Price | End Price | Annual Return | Cumulative |
|---|---|---|---|---|
| 2017 | $7.21 | $7.41 | +2.8% | +2.8% |
| 2018 | $7.40 | $6.72 | -9.2% | -6.8% |
| 2019 | $6.95 | $7.99 | +15.0% | +10.8% |
| 2020 | $8.06 | $8.07 | +0.1% | +11.9% |
| 2021 | $8.02 | $8.77 | +9.4% | +21.6% |
| 2022 | $8.84 | $6.28 | -29.0% | -12.9% |
| 2023 | $6.24 | $6.08 | -2.6% | -15.7% |
| 2024 | $6.07 | $5.97 | -1.6% | -17.2% |
| 2025 | $6.02 | $6.27 | +4.2% | -13.0% |
| 2026 | $6.20 | $6.60 | +6.5% | -8.5% |
About Franklin Managed Municipal Income Trust
Financial Services · NYSE
Putnam Managed Municipal Income Trust (PMM) is a closed-end management investment company in the finance and insurance sector. According to available information, its stated investment objective is to seek a high level of current income that is exempt from federal income tax. The fund pursues this objective by investing in a diversified portfolio of tax-exempt municipal securities.
The trust is associated with the Putnam family of closed-end funds and its shares trade on the New York Stock Exchange in a manner similar to common stocks. As a closed-end fund, the number of shares is generally fixed, and shares can trade at a premium or discount to the fund’s net asset value (NAV). The fund’s sponsor and its board have authorized repurchase programs that allow the fund to buy back shares when they trade at a discount to NAV, with the goal of enhancing value for remaining shareholders.
According to the description provided, Putnam Managed Municipal Income Trust invests across a range of municipal sectors. These include healthcare, retirement community, private higher education, housing-backed securities, essential service utilities, and state-backed bonds. By allocating assets among these different types of municipal issuers, the fund seeks diversification within the tax-exempt bond market.
Municipal securities held by the fund are issued by state and local governments or related entities, and the interest they pay is generally exempt from federal income tax. The fund’s focus on tax-exempt income can make it relevant for investors who are sensitive to federal income tax on interest income. The specific mix of sectors and issuers in the portfolio is determined by the fund’s investment adviser within the framework of its stated objective and policies.
The fund’s shares are listed and traded on the New York Stock Exchange, and like other closed-end funds, the market price of PMM can fluctuate based on investor demand, interest rate conditions, and perceptions of the underlying municipal bond market. The fund’s repurchase activity, when authorized and executed, is disclosed in its shareholder reports for the relevant fiscal periods, as noted in public communications about the fund.
Business model and structure
Putnam Managed Municipal Income Trust operates as an investment company rather than an operating business. Its primary activity is holding a portfolio of tax-exempt municipal securities and distributing income generated by that portfolio to its shareholders. The fund’s objective is not to provide operating services or products, but to manage a pool of assets under an investment mandate focused on federally tax-exempt income.
The fund’s board of directors or trustees oversees policies such as share repurchase programs. When the fund repurchases shares at a discount to NAV and cancels them, the difference between the purchase price and NAV results in incremental accretion to the NAV for remaining common shareholders, as described in public statements about the fund’s repurchase activity.
Investment focus and sectors
According to the available description, the fund invests in a diversified portfolio of tax-exempt municipal securities. The sectors referenced include:
- Healthcare-related municipal issuers
- Retirement community financings
- Private higher education issuers
- Housing-backed municipal securities
- Essential service utilities
- State-backed bonds
These categories reflect different types of municipal borrowers and projects that may issue tax-exempt bonds. By investing across multiple sectors, the fund aims to diversify exposure within the municipal bond market while maintaining its focus on income that is exempt from federal income tax.
Trading and share repurchases
Public information notes that the fund’s shares are traded on the New York Stock Exchange. Like other closed-end funds, PMM’s shares can trade at a market price that differs from the underlying NAV per share. The fund has engaged in share repurchases under programs authorized by its board when shares trade at a discount to NAV. All repurchased shares are canceled, and the stated intent of these programs is to seek to enhance shareholder value and increase NAV accretion for remaining shareholders.
Details about the volume of shares repurchased and the cumulative activity since the inception of each repurchase program are periodically disclosed in public announcements and in the fund’s shareholder reports for the relevant fiscal periods. These disclosures provide transparency into how the repurchase programs are being implemented.
Role within the finance and insurance sector
Within the broader finance and insurance sector, Putnam Managed Municipal Income Trust functions as a closed-end municipal bond fund. Its activities center on portfolio management, tax-exempt income generation, and capital market trading of its shares on the New York Stock Exchange. The fund’s focus on municipal securities and federal tax-exempt income differentiates it from funds that invest primarily in taxable bonds or equities.
FAQs about Putnam Managed Municipal Income Trust (PMM)
Similar Stocks
See how related companies performed
Frequently Asked Questions
Franklin Managed Municipal Income Trust investment returns
How much would $1,000 invested in Franklin Managed Municipal Income Trust be worth today?
If you invested $1,000 in Franklin Managed Municipal Income Trust (PMM) 10 years ago on 2016-07-20, your investment would be worth $831 today, representing a -16.9% total return, growing at a compounded rate of -1.8% per year (CAGR).
Has Franklin Managed Municipal Income Trust outperformed the S&P 500?
Over the past 10 years, PMM returned -16.9% compared to +242.4% for the S&P 500, underperforming the benchmark by 259.3 percentage points.
What is Franklin Managed Municipal Income Trust's average annual return?
The compound annual growth rate (CAGR) of PMM over the past 10 years is -1.8%, growing at a compounded rate each year. Individual years vary significantly — PMM's best recent year was 2019 (+15.0%) and worst was 2022 (-29.0%).
Your Privacy is Protected
This calculator sends the symbol, date, and amount you enter to our server so we can fetch historical market data and render the result. We do not save those entries as a portfolio or account, but standard web server logs may still record the page request.
For informational and educational purposes only — not investment advice.
