Michael V. Salm

Chief Investment Officer, Fixed Income

Mr. Salm is Chief Investment Officer of Fixed Income and a member of Putnam's Operating Committee. He is responsible for the overall strategy and positioning of Putnam’s fixed-income portfolios. Mr. Salm specializes in investment strategies related to mortgage and structured credit products and interest-rate and volatility derivatives. He joined Putnam in 1997 and has been in the investment industry since 1989. 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, Putnam Ultra Short Duration Income Fund, and 37 Capital's Structured Credit strategies. Previously at Putnam, he served as Co-Head of Fixed Income.

Products managed

Fact sheet Annual Semi annual
Diversified Income Trust
5-year Morningstar RatingTM among 279 funds in the Nontraditional Bond category.
Fixed Income Absolute Return Fund
Global Income Trust
Overall Morningstar RatingTM among 185 funds in the World Bond category.
10-year Morningstar RatingTM among 126 funds in the World Bond category.
5-year Morningstar RatingTM among 170 funds in the World Bond category.
Income Fund
Overall Morningstar RatingTM among 550 funds in the Intermediate Core-Plus Bond category.
10-year Morningstar RatingTM among 341 funds in the Intermediate Core-Plus Bond category.
5-year Morningstar RatingTM among 478 funds in the Intermediate Core-Plus Bond category.
Mortgage Opportunities Fund
Mortgage Securities Fund
Ultra Short Duration Income Fund

Closed End Funds

Master Intermediate Income Trust
Premier Income Trust

Whitepapers

Fixed-Income Outlook

Q2 2020

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.


Wishing for a weak euro

11/19/2014

We have concerns about the indirect approach of the European Central Bank as it seeks to use a weak euro to stimulate growth.


Viewing securitized debt as an alternative

10/27/2014

Putnam's fixed-income research finds opportunities in several sectors of the securitized market offer the potential for low correlations with other areas of the bond market.