Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 151

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 151
---

bonds

of

issuers

that

become

distressed.

For

the

same

reason,

we

may

at

times

find

it

difficult

to

value

the

fund’s

foreign

investments.

—

Trading

practices:

Brokerage

commissions

and

other

fees

are

generally

higher

for

foreign

investments

than

for

U.S.

investments.

The

### procedures
and

rules

governing

foreign

transactions

and

custody

may

also

involve

delays

in

payment,

delivery

or

recovery

of

money

or

investments.

—

Sovereign

issuers:

The

willingness

and

ability

of

sovereign

issuers

to

pay

principal

and

interest

on

government

securities

depends

on

various

economic

factors,

including

the

issuer’s

balance

of

payments,

overall

debt

level,

and

cash

flow

from

tax

or

other

revenues.

In

addition,

there

may

be

no

legal

recourse

for

investors

in

the

event

of

default

by

a

sovereign

government.

The

risks

of

foreign

investments

are

typically

increased

in

countries

with

less

developed

markets,

which

are

sometimes

referred

to

as

emerging

markets.

Emerging

markets

may

have

less

developed

economies

and

legal

and

regulatory

systems,

and

may

be

susceptible

to

greater

political

and

economic

instability

than

developed

foreign

markets.

Countries

with

emerging

markets

are

also

more

likely

to

experience

high

levels

of

inflation,

or

currency

devaluation,

and

investments

in

emerging

markets

may

be

more

volatile

and

less

liquid

than

investments

in

developed

markets.

For

these

and

other

reasons,

investments

in

emerging

markets

are

often

considered

speculative.

Certain

risks

related

to

foreign