Putnam Managed Municipal Income Closed Fund (PMM) - Net Assets
Based on the latest financial reports, Putnam Managed Municipal Income Closed Fund (PMM) has net assets worth $386.57 Million USD as of October 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($405.88 Million) and total liabilities ($19.31 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. Check PMM goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $386.57 Million |
| % of Total Assets | 95.24% |
| Annual Growth Rate | -1.83% |
| 5-Year Change | -29.95% |
| 10-Year Change | -30.94% |
| Growth Volatility | 9.65 |
Putnam Managed Municipal Income Closed Fund - Net Assets Trend (2006–2025)
This chart illustrates how Putnam Managed Municipal Income Closed Fund's net assets have evolved over time, based on quarterly financial data. See PMM defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Putnam Managed Municipal Income Closed Fund (2006–2025)
The table below shows the annual net assets of Putnam Managed Municipal Income Closed Fund from 2006 to 2025. For live valuation and market cap data, see Putnam Managed Municipal Income Closed F (PMM) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-10-31 | $386.57 Million | -4.20% |
| 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 decreased by 73970900.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (October 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $316.21 Million | 81.80% |
| Other Components | $99.35 Million | 25.70% |
| Total Equity | $386.57 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 |
|---|---|
|
H+H International A/S
CO:HH
|
$267.11 Million |
|
The Orissa Minerals Development Company Limited
NSE:ORISSAMINE
|
$267.22 Million |
|
Unico Silver Ltd
AU:USL
|
$267.28 Million |
|
Yeal Electric Co.Ltd
SHE:300923
|
$267.30 Million |
|
Pure Cycle Corporation
NASDAQ:PCYO
|
$266.83 Million |
|
Twin Disc Incorporated
NASDAQ:TWIN
|
$266.82 Million |
|
Chien Kuo Construction Co Ltd
TW:5515
|
$266.76 Million |
|
HPL Electric & Power Limited
NSE:HPL
|
$266.68 Million |
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 2024 to 2025, total equity changed from 403,504,946 to 386,571,588, a change of -16,933,358 (-4.2%).
- Net income of 12,091,170 contributed positively to equity growth.
- Other factors decreased equity by 29,024,528.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $12.09 Million | +3.13% |
| Other Changes | $-29.02 Million | -7.51% |
| Total Change | $- | -4.20% |
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: 0.70x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-10-31 | $10.24 | $6.36 | x |
| 2013-10-31 | $9.49 | $6.36 | x |
| 2014-10-31 | $10.14 | $6.36 | x |
| 2015-10-31 | $10.26 | $6.36 | x |
| 2016-10-31 | $10.40 | $6.36 | x |
| 2017-10-31 | $11.01 | $6.36 | x |
| 2018-10-31 | $9.61 | $6.36 | x |
| 2019-10-31 | $11.06 | $6.36 | x |
| 2020-10-31 | $13.33 | $6.36 | x |
| 2021-10-31 | $11.14 | $6.36 | x |
| 2022-10-31 | $7.84 | $6.36 | x |
| 2023-10-31 | $7.86 | $6.36 | x |
| 2024-10-31 | $8.69 | $6.36 | x |
| 2025-10-31 | $9.03 | $6.36 | 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): 3.13%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 86.52%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 1.05x
- Recent ROE (3.13%) is above the historical average (2.46%), 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 | 8.81% | 98.66% | 0.09x | 1.02x | $-6.20 Million |
| 2020 | 1.46% | 91.36% | 0.02x | 1.00x | $-45.07 Million |
| 2021 | 5.95% | 97.61% | 0.06x | 1.00x | $-22.36 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 |
| 2025 | 3.13% | 86.52% | 0.03x | 1.05x | $-26.57 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: $1,682,064,627
- Average return on equity (ROE) among peers: -32.17%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Putnam Managed Municipal Income Closed Fund (PMM) | $386.57 Million | 5.48% | 0.05x | $266.85 Million |
| Acadian Asset Management Inc (AAMI) | $87.10 Million | 97.59% | 7.07x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.62 Billion | 23.79% | 0.00x | $3.27 Billion |
| Associated Capital Group Inc (AC) | $1.14 Billion | 5.20% | 0.06x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $477.47 Million | 10.91% | 0.11x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $1.40 Million | -229.54% | 1.40x | $194.14 Million |
| Alpha Compute Corp (ALP) | $481.93K | -226.09% | 0.20x | $5.62 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $782.49 Million | -21.16% | 0.62x | $296.12 Million |
| Affiliated Managers Group Inc (AMG) | $5.39 Billion | 12.79% | 0.61x | $9.37 Billion |
| Ameriprise Financial Inc (AMP) | $7.29 Billion | 9.95% | 10.74x | $40.38 Billion |
| AMTD IDEA Group (AMTD) | $33.87 Million | -5.16% | 13.38x | $40.58 Million |
About 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