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 Core Bond 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, Putnam Ultra Short Duration Income Fund, Putnam ESG Core Bond ETF, and 37 Capital's Structured Credit strategies. Previously at Putnam, he served as Co-Head of Fixed Income.

ETFs

Putnam ESG Core Bond ETF

Mutual Funds

Fact sheet Annual Semi annual
Core Bond Fund
Overall Morningstar RatingTM among 416 funds in the Intermediate Core Bond category.
10-year Morningstar RatingTM among 282 funds in the Intermediate Core Bond category.
5-year Morningstar RatingTM among 380 funds in the Intermediate Core Bond category.
3-year Morningstar RatingTM among 416 funds in the Intermediate Core Bond category.
Diversified Income Trust
Global Income Trust
10-year Morningstar RatingTM among 136 funds in the Global Bond category.
Income Fund
Mortgage Opportunities Fund
Overall Morningstar RatingTM among 305 funds in the Nontraditional Bond category.
3-year Morningstar RatingTM among 305 funds in the Nontraditional Bond category.
Mortgage Securities Fund
Ultra Short Duration Income Fund
Overall Morningstar RatingTM among 208 funds in the Ultrashort Bond category.
10-year Morningstar RatingTM among 98 funds in the Ultrashort Bond category.
5-year Morningstar RatingTM among 181 funds in the Ultrashort Bond category.
3-year Morningstar RatingTM among 208 funds in the Ultrashort Bond category.

Closed End Funds

Master Intermediate Income Trust
Premier Income Trust

More from the Fixed Income team

Economic imbalances could mean deep recession or sticky inflation

A deep recession could have a significant impact on financial markets.

More »

Currency views

Fixed income markets experienced widespread declines in the U.S. and globally in the third quarter of 2022, as inflation remained high and became more broad-based.

More »

Inflation demands Fed's focus as bank lending tightens

Even as bank lending tightens, the Fed may still need to keep rates high for longer to bring down inflation.

More »

The Fed walks a line between inflation and financial stability

Given the fragilities in financial markets, the Fed will likely move cautiously in monetary tightening to fight inflation.

More »