Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 174

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 174
---
#### Fund’s

#### fundamental

#### investment

#### policies
The

Fund

has

adopted

the

following

investment

restrictions

which

may

not

be

changed

without

the

affirmative

vote

of

a

“majority

of

the

outstanding

voting

securities”

of

the

Fund

(which

is

defined

in

the

1940

Act

to

mean

the

affirmative

vote

of

the

lesser

of

(1)

more

than

50%

of

the

outstanding

shares

of

the

Fund,

or

(2)

67%

or

more

of

the

shares

present

at

a

meeting

if

more

than

50%

of

the

outstanding

shares

of

the

Fund

are

represented

at

the

meeting

in

person

or

by

proxy).

The

Fund

may

not:

1.

Borrow

money

or

issue

senior

securities

(as

defined

in

the

1940

Act),

except

as

permitted

by

(i)

the

1940

Act,

(ii)

the

rules

or

regulations

promulgated

by

the

Securities

and

Exchange

Commission

(the

“SEC”)

under

the

1940

Act

or

(iii)

any

applicable

exemption

from

the

provisions

of

the

1940

Act.

2.

Underwrite

securities

issued

by

other

persons

except

to

the

extent

that,

in

connection

with

the

disposition

of

its

portfolio

investments,

it

may

be

deemed

to

be

an

underwriter

under

the

federal

securities

laws.

3.

Purchase

or

sell

real

estate,

although

it

may

purchase

securities

of

issuers

which

deal

in

real

estate,

securities

which

are

secured

by

interests

in

real

estate,

and

securities

which

represent

interests

in

real

estate,

and

it

may

acquire

and

dispose

of

real

estate

or

interests

in