Putnam Managed Municipal Income Closed Fund
Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investmen… Read more
Putnam Managed Municipal Income Closed Fund (PMM) - Net Assets
Latest net assets as of April 2025: $377.70 Million USD
Based on the latest financial reports, Putnam Managed Municipal Income Closed Fund (PMM) has net assets worth $377.70 Million USD as of April 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($391.69 Million) and total liabilities ($13.99 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $377.70 Million |
| % of Total Assets | 96.43% |
| Annual Growth Rate | -1.69% |
| 5-Year Change | -23.5% |
| 10-Year Change | -27.1% |
| Growth Volatility | 9.94 |
Putnam Managed Municipal Income Closed Fund - Net Assets Trend (2006–2024)
This chart illustrates how Putnam Managed Municipal Income Closed Fund's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Putnam Managed Municipal Income Closed Fund (2006–2024)
The table below shows the annual net assets of Putnam Managed Municipal Income Closed Fund from 2006 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-10-31 | $403.50 Million | +9.00% |
| 2023-10-31 | $370.20 Million | -4.74% |
| 2022-10-31 | $388.61 Million | -29.58% |
| 2021-10-31 | $551.88 Million | +4.63% |
| 2020-10-31 | $527.48 Million | +1.03% |
| 2019-10-31 | $522.12 Million | +7.79% |
| 2018-10-31 | $484.37 Million | -7.97% |
| 2017-10-31 | $526.32 Million | -5.98% |
| 2016-10-31 | $559.80 Million | +1.13% |
| 2015-10-31 | $553.54 Million | -2.78% |
| 2014-10-31 | $569.38 Million | +4.51% |
| 2013-10-31 | $544.81 Million | -7.70% |
| 2012-10-31 | $590.23 Million | +6.38% |
| 2008-10-31 | $554.86 Million | +11.63% |
| 2007-10-31 | $497.05 Million | -9.43% |
| 2006-10-31 | $548.77 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Putnam Managed Municipal Income Closed Fund's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 230628500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (October 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $330.10 Million | 81.81% |
| Other Components | $99.35 Million | 24.62% |
| Total Equity | $403.50 Million | 100.00% |
Putnam Managed Municipal Income Closed Fund Competitors by Market Cap
The table below lists competitors of Putnam Managed Municipal Income Closed Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
China Industrial Group Inc
PINK:CIND
|
$57.60K |
|
SALVAT.FERRAGAMO (S9L.SG)
STU:S9L
|
$57.63K |
|
IPE Universal Inc
PINK:IPEU
|
$57.65K |
|
Plantx Life Inc.
PINK:PLTXF
|
$57.65K |
|
ORASCOM DEVL HLDG N (4O7.SG)
STU:4O7
|
$57.53K |
|
DDA Physical Bitcoin ETP A EUR
XETRA:XBTI
|
$57.53K |
|
Macompta Fr Sa
PA:MLMCA
|
$57.51K |
|
Agroliga Group PLC
WAR:AGL
|
$57.51K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Putnam Managed Municipal Income Closed Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 370,203,861 to 403,504,946, a change of 33,301,085 (9.0%).
- Net income of 67,151,515 contributed positively to equity growth.
- Other factors decreased equity by 33,850,430.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $67.15 Million | +16.64% |
| Other Changes | $-33.85 Million | -8.39% |
| Total Change | $- | 9.00% |
Book Value vs Market Value Analysis
This analysis compares Putnam Managed Municipal Income Closed Fund's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.73x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.62x to 0.73x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-10-31 | $10.24 | $6.32 | x |
| 2013-10-31 | $9.49 | $6.32 | x |
| 2014-10-31 | $10.14 | $6.32 | x |
| 2015-10-31 | $10.26 | $6.32 | x |
| 2016-10-31 | $10.40 | $6.32 | x |
| 2017-10-31 | $11.01 | $6.32 | x |
| 2018-10-31 | $9.61 | $6.32 | x |
| 2019-10-31 | $10.61 | $6.32 | x |
| 2020-10-31 | $12.28 | $6.32 | x |
| 2021-10-31 | $10.10 | $6.32 | x |
| 2022-10-31 | $7.84 | $6.32 | x |
| 2023-10-31 | $7.86 | $6.32 | x |
| 2024-10-31 | $8.69 | $6.32 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Putnam Managed Municipal Income Closed Fund utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.64%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 99.74%
- • Asset Turnover: 0.16x
- • Equity Multiplier: 1.04x
- Recent ROE (16.64%) is above the historical average (2.49%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 5.48% | 82.40% | 0.07x | 1.02x | $-24.78 Million |
| 2007 | 1.87% | 33.47% | 0.06x | 1.01x | $-40.41 Million |
| 2008 | -13.20% | -212.73% | 0.06x | 1.03x | $-128.74 Million |
| 2012 | 11.67% | 217.18% | 0.05x | 1.02x | $9.87 Million |
| 2013 | -3.15% | -55.58% | 0.06x | 1.03x | $-71.67 Million |
| 2014 | 10.40% | 201.19% | 0.05x | 1.04x | $2.30 Million |
| 2015 | 4.34% | 83.98% | 0.05x | 1.03x | $-31.31 Million |
| 2016 | 5.57% | 113.76% | 0.05x | 1.05x | $-24.82 Million |
| 2017 | 2.24% | 88.70% | 0.02x | 1.08x | $-40.86 Million |
| 2018 | 0.60% | 81.17% | 0.01x | 1.08x | $-45.53 Million |
| 2019 | 9.19% | 98.66% | 0.09x | 1.06x | $-4.05 Million |
| 2020 | 1.58% | 91.36% | 0.02x | 1.09x | $-40.92 Million |
| 2021 | 6.56% | 97.61% | 0.06x | 1.11x | $-17.22 Million |
| 2022 | -23.24% | 0.00% | -0.21x | 1.10x | $-129.18 Million |
| 2023 | 3.33% | 96.72% | 0.03x | 1.10x | $-24.68 Million |
| 2024 | 16.64% | 99.74% | 0.16x | 1.04x | $26.80 Million |
Industry Comparison
This section compares Putnam Managed Municipal Income Closed Fund's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $310,488,743
- Average return on equity (ROE) among peers: -23.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Putnam Managed Municipal Income Closed Fund (PMM) | $377.70 Million | 5.48% | 0.04x | $57.55K |
| Aberdeen International Inc (AABVF) | $136.31 Million | 25.56% | 0.23x | $2.78 Million |
| Acadian Asset Management Inc (AAMI) | $-17.60 Million | 0.00% | 0.00x | $1.39 Billion |
| AllianceBernstein Holding L.P. (AB) | $402.30 Million | 32.07% | 0.95x | $3.43 Billion |
| VIVO Cannabis Inc (ABCCF) | $164.13 Million | 16.36% | 0.09x | $148.26 Million |
| Associated Capital Group Inc (AC) | $502.13 Million | 5.33% | 0.17x | $42.54 Million |
| Adrian Resources Ltd (ADLRF) | $605.01 Million | 3.35% | 0.58x | $609.82 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $85.10 Million | -65.65% | 0.01x | $77.20K |
| AGF Management Limited (AGFMF) | $1.12 Billion | 10.14% | 3.56x | $298.43 Million |
| Agronomics Limited (AGNMF) | $100.03 Million | 1.02% | 0.02x | $57.14 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $6.11 Million | -266.31% | 0.76x | $2.71 Million |