Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 195

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 195
---

factors,

including

those

factors

discussed

below.

No

single

factor

reviewed

by

the

Board

was

identified

by

the

Board

as

the

principal

factor

in

determining

whether

to

approve

the

continuation

of

the

### Management
Agreement

and

the

Sub-

Advisory

Agreements.

Each

Board

member

may

have

attributed

different

weight

to

the

various

factors

in

evaluating

the

### Management
Agreement

and

the

Sub-Advisory

Agreements.

After

considering

all

relevant

factors

and

information,

the

Board,

exercising

its

reasonable

### business
judgment,

determined

that

the

continuation

of

the

### Management
Agreement

and

Sub-Advisory

Agreements

were

in

the

best

interests

of

the

Fund’s

stockholders

and

approved

the

continuation

of

each

such

agreement

for

an

additional

one-

year

period.

#### Nature,

#### Extent

#### and

#### Quality

#### of

#### the

#### Services

#### under

#### the

### Management

#### Agreement

#### and

#### Sub-Advisory

#### Agreements
The

Board

received

and

considered

Contract

Renewal

Information

regarding

the

nature,

extent,

and

quality

of

services

provided

to

the

Fund

by

the

Manager

and

the

Sub-Advisers

under

the

### Management
Agreement

and

the

Sub-Advisory

Agreements,

respectively,

during

the

past

year.

The

Board

noted

information

received

at

regular

meetings

throughout

the

year

related

to

the

services

provided

by

the

Manager

in

its

### management
of

the

Fund’s

affairs

and

the

Manager’s

role

in

coordinating

the

activities

of

the

Sub-Advisers

and

the

Fund’s

other

service

providers.

The

Board

observed

that

the

scope