Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 1

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 1
---
ier

Income

Trust

Dear

Shareholder,

This

annual

report

for

Putnam

Premier

Income

Trust

covers

the

fiscal

year

ended

July

31,

2025.

Fund

### Overview

#### Q.

#### What

#### is

#### the

#### Fund’s

#### investment

#### strategy?

#### A.
The

Fund

seeks

to

provide

high

current

income

consistent

with

the

preservation

of

capital

by

allocating

its

investments

among

the

U.S.

government

sector,

high

yield

sector

and

international

sector

of

the

fixed-income

securities

market.

We

invest

mainly

in

bonds,

securitized

debt

instruments

(such

as

residential

mortgage-backed

securities

and

commercial

mortgage-backed

securities),

and

other

obligations

of

companies

and

governments

worldwide

that

are

either

investment-grade

or

below-investment-grade

in

quality

(sometimes

referred

to

as

“junk

bonds”),

that

have

intermediate-

to

long-term

maturities

(three

years

or

longer),

and

that

are

from

multiple

sectors.

The

Fund

currently

has

significant

investment

exposure

to

residential

and

commercial

mortgage-backed

investments.

We

may

consider,

among

other

factors,

credit,

interest

rate

and

prepayment

risks,

as

well

as

general

market

conditions,

when

deciding

whether

to

buy

or

sell

investments.

We

typically

use

to

a

significant

extent

derivatives,

such

as

futures,

options,

certain

foreign

currency

transactions

and

swap

contracts,

for

hedging

and

non-hedging

purposes

and

to

obtain

leverage.

#### Q.

#### What

#### were

#### the

#### overall

#### market

#### conditions

#### during

#### the

#### Fund’s

#### reporting

#### period?

#### A.
Over

the

past

12

months,

market

conditions

were

shaped

by