Michael V. Salm

Co-Chief Investment Officer, Fixed Income

Mr. Salm is Co-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 as well as co-leading the Volatility Analysis team. Mr. Salm specializes in investment strategies related to mortgage and structured credit products and interest-rate and volatility derivatives. He 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, Mr. Salm served as Co-Head of Fixed Income. He joined Putnam in 1997 and has been in the investment industry since 1989.

Products managed

Fact sheet Annual Semi annual
Diversified Income Trust
5-year Morningstar RatingTM among 284 funds in the Nontraditional Bond category.
Fixed Income Absolute Return Fund
5-year Morningstar RatingTM among 284 funds in the Nontraditional Bond category.
Global Income Trust
Overall Morningstar RatingTM among 187 funds in the World Bond category.
10-year Morningstar RatingTM among 119 funds in the World Bond category.
5-year Morningstar RatingTM among 173 funds in the World Bond category.
Income Fund
Overall Morningstar RatingTM among 543 funds in the Intermediate Core-Plus Bond category.
10-year Morningstar RatingTM among 342 funds in the Intermediate Core-Plus Bond category.
5-year Morningstar RatingTM among 480 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.


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.