Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 171

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 171
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Sections

3(c)

(1)

or

3(c)(7)

of

the

1940

Act,

structured

finance

vehicles

or

other

entities

not

traditionally

considered

pooled

investment

vehicles,

and

companies

that

rely

on

the

exceptions

from

the

definition

of

investment

company

under

Section

3(c)(5)

(A)

or

(B)

of

the

1940

Act.

The

Fund

may

invest

in

portfolio

affiliates

of

the

Fund

within

the

meaning

of,

and

in

reliance

on,

Rules

17a-6

and

17d-1(d)(5)

under

the

1940

Act.

The

Fund

may

invest

in

other

investment

companies

to

gain

broad

market

or

sector

exposure,

including

during

periods

when

it

has

large

amounts

of

uninvested

cash

or

when

the

investment

manager

believes

that

share

prices

of

other

investment

companies

offer

attractive

values.

In

general,

under

the

1940

Act,

an

investment

company

may

not

(i)

own

more

than

3%

of

the

outstanding

voting

securities

of

any

one

registered

investment

company,

(ii)

invest

more

than

5%

of

its

total

assets

in

the

securities

of

any

single

registered

investment

company

or

(iii)

invest

more

than

10%

of

its

total

assets

in

securities

of

other

registered

investment

companies

(the

“3-5-10%

Limitations”).

The

Fund

may

rely

on

certain

exemptions

to

exceed

the

3-5-10%

Limitations

when

investing

in

another

registered

investment

company

(including

money

market

funds)

or

### business
development

company.

To

the

extent

that

the

Fund

invests

in

another

investment

company,

because

other

investment

companies

pay

advisory,

administrative