Michael V. Salm

Co-Head of Fixed Income

Mr. Salm is Co-Head of Fixed Income at Putnam. He is also a Portfolio Manager of Putnam Absolute Return 100 Fund, Putnam Absolute Return 300 Fund, Putnam American Government Income Fund, Putnam Diversified Income Trust, Putnam Global Income Trust, Putnam Income Fund, Putnam Master Intermediate Income Trust, Putnam Premier Income Trust, Putnam Short Duration Income Fund, and Putnam U.S. Government Income Trust. Mr. Salm specializes in mortgage derivatives, interest-rate derivatives, and government securities. Mr. Salm joined Putnam in 1997 and has been in the investment industry since 1989.

Funds managed

Fact sheet Annual Semi annual
Absolute Return 100 Fund
Absolute Return 300 Fund
American Government Income Fund
overall Morningstar rating among 244 funds in the Intermediate Government category.
10-year Morningstar rating among 173 funds in the Intermediate Government category.
Diversified Income Trust
5-year Morningstar rating among 159 funds in the Nontraditional Bond category.
Global Income Trust
overall Morningstar rating among 93 funds in the World Bond category.
10-year Morningstar rating among 69 funds in the World Bond category.
5-year Morningstar rating among 89 funds in the World Bond category.
Income Fund
overall Morningstar rating among 434 funds in the Intermediate-Term Bond category.
10-year Morningstar rating among 540 funds in the Intermediate-Term Bond category.
5-year Morningstar rating among 428 funds in the Intermediate-Term Bond category.
Short Duration Income Fund
U.S. Government Income Trust
overall Morningstar rating among 244 funds in the Intermediate Government category.
10-year Morningstar rating among 173 funds in the Intermediate Government category.
5-year Morningstar rating among 232 funds in the Intermediate Government category.

Closed End Funds

Master Intermediate Income Trust
Premier Income Trust

Whitepapers

Fixed-Income Outlook

17-Jan

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.