Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 13

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 13
---
ICE

BofA

U.S.

Treasury

Bill

Index

tracks

the

performance

of

U.S.

dollar-denominated

U.S.

Treasury

bills

publicly

issued

in

the

U.S.

domestic

market.

Qualifying

securities

must

have

a

remaining

term

of

at

least

one

month

to

final

maturity

and

a

minimum

amount

outstanding

of

$1

billion.

Important

data

provider

notices

and

terms

available

at

www.franklintempletondatasources.com.

Putnam

Master

Intermediate

Income

Trust

### Financial
Highlights

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

### financial
statements.

8

a

#### Year

#### Ended

#### September

#### 30,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$3.51

$3.32

$3.52

$4.08

$4.30

Income

from

investment

operations:

Net

investment

income

a

.........................

0.18

0.20

0.16

0.18

0.19

Net

realized

and

unrealized

gains

(losses)

...........

0.04

0.25

(0.11)

(0.49)

(0.13)

Total

from

investment

### operations
....................

0.22

0.45

0.05

(0.31)

0.06

Less

distributions

from:

Net

investment

income

..........................

(0.17)

(0.17)

(0.20)

(0.26)

(0.03)

Tax

return

of

capital

............................

(0.09)

(0.09)

(0.06)

—

(0.25)

Total

distributions

...............................

(0.26)

(0.26)

(0.26)

(0.26)

(