PMM - Franklin Managed Municipal Income Trust

What this means for you

No investor has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

1. Aug 6, 2026

   The fund said it may sell new shares.

   Original document →

About this fund

• Run by Franklin Advisers, Inc. Part of the Franklin Templeton Group of Funds fund family. As of Oct 31, 2025, from the fund's yearly report. Original document →
• Size: about $287 million of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 7% on top of its own money, as of April 30, 2026. Borrowed money makes gains and losses bigger. About 100% of that is money the fund has borrowed by selling preferred shares. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.6% a year in management fees; 1.1% a year in total, including interest on borrowed money. Fiscal year ended Oct 31, 2025. As of Oct 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year the fund told the regulator that part of what it paid out was not income (it came from gains or from your own money back). As of Oct 31, 2025, from the fund's yearly report. Original document →
• Value of holdings per share at the last fiscal year end (Oct 31, 2025): $6.71. The shares traded at $6.10, about 9.1% below that. As of Oct 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 1.3% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +8.5%. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 1994.

What the fund holds

Mostly tax-free municipal bonds (97%), the rest other holdings. About 97% issued in the U.S.

1. Putnam Short Term Investment Fund class P shares - 3.9%
2. Texas Transportation Finance Corp., Series 2025 A - 2.6%
3. Dallas Area Rapid Transit, Series 2020 A - 2.5%
4. District of Columbia, Series 2023 A - 2.5%
5. San Francisco City & County Airport Comm-San Francisco International Airport, Series 2019 A - 2.3%
6. West Virginia Hospital Finance Authority, Series 2023 B - 2%
7. City of Miami FL, City of Miami, Series 2024 A - 1.9%
8. CSCDA Community Improvement Authority, Series 2021 A-2 - 1.8%
9. South Carolina Public Service Authority, Series 2021 B - 3.2%
10. Washington Metropolitan Area Transit Authority Dedicated Revenue, Washington Metropolitan Area Transit Authority, Series 2024 A - 1.8%

As of April 30, 2026, from the fund's quarterly holdings report. Original document →