Fund Description: Putnam Master Intermediate Income Trust is a diversified, closed-end management investment company, better known as a closed-end fund or a closed-end ETF. INVESTMENT OBJECTIVE: The fund's investment objective is to provide as high a level of current income free from federal income tax as Putnam Management believes is consistent with preservation of capital. FUND STRATEGY: The fund intends to achieve its objective by allocating its investments among the U.S. investment grade sector, high-yield sector and international sector. FUND MANAGEMENT: The Fund's manager is Putnam Investment Management, LLC, an indirect wholly owned subsidiary of Putnam, LLC.