Michael V. Salm

Co-Head of Fixed Income

Mr. Salm is a Co-Head of Fixed Income. He is also a portfolio manager of Putnam Absolute Return 100 Fund®, Putnam Absolute Return 300 Fund®, Putnam Diversified Income Trust, Putnam Global Income Trust, Putnam Income Fund, Putnam Master Intermediate Income Trust, Putnam Mortgage Securities Fund, Putnam Premier Income Trust, and Putnam Short Duration Income Fund. Mr. Salm specializes in mortgage derivatives, interest-rate derivatives, and government securities. He joined Putnam in 1997 and has been in the investment industry since 1989.

Funds managed

Fact sheet Annual Semi annual Compare
Absolute Return 100 Fund
Absolute Return 300 Fund
Diversified Income Trust
overall Morningstar rating among 264 funds in the Nontraditional Bond category.
5-year Morningstar rating among 161 funds in the Nontraditional Bond category.
3-year Morningstar rating among 264 funds in the Nontraditional Bond category.
Global Income Trust
overall Morningstar rating among 264 funds in the World Bond category.
10-year Morningstar rating among 133 funds in the World Bond category.
5-year Morningstar rating among 236 funds in the World Bond category.
Income Fund
overall Morningstar rating among 858 funds in the Intermediate-Term Bond category.
10-year Morningstar rating among 561 funds in the Intermediate-Term Bond category.
5-year Morningstar rating among 784 funds in the Intermediate-Term Bond category.
3-year Morningstar rating among 858 funds in the Intermediate-Term Bond category.
Mortgage Securities Fund
overall Morningstar rating among 229 funds in the Intermediate Government category.
10-year Morningstar rating among 165 funds in the Intermediate Government category.
5-year Morningstar rating among 219 funds in the Intermediate Government category.
Short Duration Income Fund

Closed End Funds

Master Intermediate Income Trust
Premier Income Trust

Whitepapers

Fixed-Income Outlook

17-Oct

Analysis of global bond market sectors from the Co-Heads of Fixed Income.


Blog posts

A surprising shortage in housing

9/1/2015

Home construction is falling behind the pace of new household formation, creating an imbalance between housing supply and demand.


Headwinds buffet emerging-market debt

8/25/2015

Higher interest rates can challenge any fixed-income market, but rate increases in advanced economies can cause particular difficulty for emerging markets.


What may unlock consumer spending

5/7/2015

While retail sales have been rather weak, key elements of consumer spending on services, including housing, are growing.