Michael V. Salm

Co-Head of Fixed Income

Mr. Salm is a Co-Head of Fixed Income. He specializes in mortgage and securitized products, interest-rate and volatility derivatives, and money markets. Mr. Salm is a portfolio manager of Putnam Diversified Income Trust, Putnam Global Income Trust, Putnam Fixed Income Absolute Return Fund, Putnam Income Fund, Putnam Master Intermediate Income Trust, Putnam Mortgage Securities Fund, Putnam Premier Income Trust, and Putnam Short Duration Income Fund. In addition, he oversees trading operations and Putnam's Fixed Income quantitative teams. He joined Putnam in 1997 and has been in the investment industry since 1989.

Funds managed

Fact sheet Annual Semi annual
Diversified Income Trust
Overall Morningstar RatingTM among 278 funds in the Nontraditional Bond category.
10-year Morningstar RatingTM among 56 funds in the Nontraditional Bond category.
5-year Morningstar RatingTM among 169 funds in the Nontraditional Bond category.
3-year Morningstar RatingTM among 278 funds in the Nontraditional Bond category.
Fixed Income Absolute Return Fund
Global Income Trust
Overall Morningstar RatingTM among 261 funds in the World Bond category.
10-year Morningstar RatingTM among 136 funds in the World Bond category.
5-year Morningstar RatingTM among 247 funds in the World Bond category.
Income Fund
Overall Morningstar RatingTM among 875 funds in the Intermediate-Term Bond category.
10-year Morningstar RatingTM among 562 funds in the Intermediate-Term Bond category.
5-year Morningstar RatingTM among 776 funds in the Intermediate-Term Bond category.
3-year Morningstar RatingTM among 875 funds in the Intermediate-Term Bond category.
Mortgage Securities Fund
10-year Morningstar RatingTM among 562 funds in the Intermediate-Term Bond 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.