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0001048703-10-000075.txt : 20100323
0001048703-10-000075.hdr.sgml : 20100323
20100323093713
ACCESSION NUMBER: 0001048703-10-000075
CONFORMED SUBMISSION TYPE: SC 13D
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20100323
DATE AS OF CHANGE: 20100323
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: PUTNAM MUNICIPAL OPPORTUNITIES TRUST
CENTRAL INDEX KEY: 0000900422
IRS NUMBER: 043187549
STATE OF INCORPORATION: MA
FISCAL YEAR END: 1031
FILING VALUES:
FORM TYPE: SC 13D
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-82402
FILM NUMBER: 10698054
BUSINESS ADDRESS:
STREET 1: ONE POST OFFICE SQUARE
CITY: BOSTON
STATE: MA
ZIP: 02109
BUSINESS PHONE: 6172921000
MAIL ADDRESS:
STREET 1: ONE POST OFFICE SQUARE
CITY: BOSTON
STATE: MA
ZIP: 02109
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: Karpus Management, Inc.
CENTRAL INDEX KEY: 0001048703
IRS NUMBER: 161290550
STATE OF INCORPORATION: NY
FISCAL YEAR END: 0630
FILING VALUES:
FORM TYPE: SC 13D
BUSINESS ADDRESS:
STREET 1: 183 SULLY'S TRAIL
CITY: PITTSFORD
STATE: NY
ZIP: 14534
BUSINESS PHONE: 5855864680
MAIL ADDRESS:
STREET 1: 183 SULLY'S TRAIL
CITY: PITTSFORD
STATE: NY
ZIP: 14534
FORMER COMPANY:
FORMER CONFORMED NAME: KARPUS MANAGEMENT INC
DATE OF NAME CHANGE: 19971029
SC 13D
1
pmoarps13d.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Putnam Opportunities Trust (PMO)
(Name of Issuer)
Remarketed Preferred Shares
(Title of Class of Securities)
746922301
746922400
(CUSIP Number)
George W. Karpus, President
Karpus Management, Inc.,
d/b/a Karpus Investment Management
183 Sully's Trail
Pittsford, New York 14534
(585) 586-4680
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 23, 2010
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box.
CUSIP No.: 746922301; 746922400
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Karpus Management, Inc., d/b/a Karpus Investment Management
I.D. #16-1290558
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) X
3. SEC Use Only
4. Source of Funds (See Instructions)
AF
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
N/A
6. Citizenship or Place of Organization
New York
Number of Shares Beneficially Owned by Each reporting Person With:
7. Sole Voting Power
176
8. Shared Voting Power
N/A
9. Sole Dispositive Power
176
10. Shared Dispositive Power
N/A
11. Aggregate Amount Beneficially Owned by Each Reporting Person
176
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
N/A
13. Percent of Class Represented by Amount in Row (11)
2.46%*
14. Type of Reporting Person (See Instructions)
IA
*Item 13, above, is calculated based on the aggregate amount of 7,154 outstanding auction rate preferred shares indicated by the Issuer's Annual Statement filed with the U.S. Securities and Exchange Commission on December 30, 2009, dated as of October 31, 2009.
Item 1. Security and Issuer.
Putnam Municipal Opportunities Trust
The Putnam Funds
One Post Office Square
Boston, MA 02109
Item 2. Identity and Background.
(a) Karpus Management, Inc., d/b/a Karpus Investment Management (KIM), George W. Karpus, President, Director and controlling stockholder, Jo Ann Van Degriff, Partner Emeritus.
(b) The address of KIMs principal place of business and principal office is: 183 Sullys Trail, Pittsford, New York 14534.
(c) Principal business and occupation - Investment management for individuals, pension plans, profit sharing plans, corporations, endowments, trusts and others.
(d) None of the Principals, George W. Karpus, Jo Ann Van Degriff (the Principals) or KIM has been convicted in the past 5 years of any criminal proceeding (excluding traffic violations).
(e) During the last 5 years none of the Principals or KIM has been a party to a civil proceeding as a result of which any of them is subject to a judgment, decree, or final order enjoining future violations of or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) Each of the Principals is a United States citizen. KIM is a New York corporation.
Item 3. Source and Amount of Funds or Other Considerations.
KIM, an independent investment advisor, has accumulated 176 shares of Putnam Opportunities Trust Remarketed Preferred Shares on behalf of accounts that are managed by KIM (the Accounts) under limited powers of attorney, which represents 2.46% of the outstanding shares. All funds that have been utilized in making such purchases are from such Accounts.
Item 4. Purpose of Transaction.
KIM has purchased Shares for the Accounts for investment purposes. However, KIM reserves the right to contact management with regard to concerns that they have with respect to the Fund. This may include letters to the Board and/or other communications with Fund management. Being an independent registered investment advisor, with a specialty focus in closed end funds, the profile of the Putnam Opportunities Trust Remarketed Preferred Shares fits the investment guidelines for various Accounts. Shares have been acquired since March 10, 2010.
Item 5. Interest in Securities of the Issuer.
(a) As of the date of this Report, KIM represents beneficial ownership of 176 shares or 2.46% of the outstanding shares.
Karpus Investment Management Defined Benefit Plan presently owns 1 shares. The Benefit Plan purchased 1 share on March 10, 2010 at $22,625.
None of the other principals of KIM presently own shares of Putnam Opportunities Trust Remarketed Preferred Shares.
(b) KIM has the sole power to dispose of and to vote all of such Shares under limited powers of attorney.
(c) Open market purchases for the last 60 days for the Accounts. There have been no dispositions and no acquisitions, other than by such open market purchases:
Date Shares Price Per Share
3/10/2010 48 $22,625
3/17/2010 128* $22,869
*- Shares purchased with the rights to vote at the Annual Meeting of Sharesholders scheduled for April 8, 2010 (and any postponements or adjournments thereof) or any other meeting, general or special, of the shareholders of PMO that is held after the date of purchase and the record date for which was prior to the date of purchase (the "Rights"). Such Rights were acquired pursuant to a Durable Power of Attorney and Irrevocable Proxy, duly executed by both the seller and KIM, where applicable.
The Accounts have the right to receive all dividends from, and any proceeds from the sale of the Shares. None of the Accounts has an interest in Shares constituting more than 5% of the Shares outstanding.
Item 6. Contracts, Arrangements, Understandings, or Relationships with Respect to Securities of the Issuer.
Except as described above, there are no contracts, arrangements, understandings or relationships of any kind among the Principals and KIM and between any of them and any other person with respect to any of the Putnam Opportunities Trust Remarketed Preferred Shares.
Item 7. Materials to be Filed as Exhibits.
None
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.
Karpus Management, Inc.
By: /s/
Name: Cody B. Bartlett Jr., CFA
Title: Managing Director of Investments
Date: March 23, 2010
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