Putnam Managed Municipal Income Trust is a closeended fixed income mutual fund launched and managed by Putnam Investment Management LLC It is comanaged by Putnam Investments Limited The fund invests in the fixed income markets of the United States It primarily invests in a diversified portfolio of taxexempt municipal securities including highyield securities that are rated below investment grade The fund benchmarks the performance of its portfolio against the Barclays Municipal Bond Index Putnam Managed Municipal Income Trust was formed on February 24 1989 and is domiciled in the United States