PUTNAM MANAGED MUNICIPAL INCOME TRUST

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund. It is managed by Putnam Investment Management LLC and co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States, primarily focusing on a diversified portfolio of tax-exempt municipal securities. This portfolio includes high-yield securities that are rated below investment grade. The fund measures its performance against the Barclays Municipal Bond Index. Putnam Managed Municipal Income Trust was formed on February 24, 1989, and is based in the United States.