-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001144204-09-001281.txt : 20090109
<SEC-HEADER>0001144204-09-001281.hdr.sgml : 20090109
<ACCEPTANCE-DATETIME>20090109215953
ACCESSION NUMBER:		0001144204-09-001281
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081231
FILED AS OF DATE:		20090109
DATE AS OF CHANGE:		20090109

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM MANAGED MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0000844790
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046608976
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172921000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MERRILL LYNCH & CO., INC.
		CENTRAL INDEX KEY:			0000065100
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05740
		FILM NUMBER:		09520165

	BUSINESS ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CTR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080
		BUSINESS PHONE:		2124491000

	MAIL ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CTR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080

	FORMER NAME:	
		FORMER CONFORMED NAME:	MERRILL LYNCH & CO INC
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
		CENTRAL INDEX KEY:			0000728612
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05740
		FILM NUMBER:		09520164

	BUSINESS ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CENTER
		STREET 2:		NORTH TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080
		BUSINESS PHONE:		2126702273

	MAIL ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CENTER
		STREET 2:		NORTH TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080

	FORMER NAME:	
		FORMER CONFORMED NAME:	MERRILL LYNCH PIERCE FENNER & SMITH INC
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>v136774_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2008-12-31</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000844790</issuerCik>
        <issuerName>PUTNAM MANAGED MUNICIPAL INCOME TRUST</issuerName>
        <issuerTradingSymbol>PMM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000065100</rptOwnerCik>
            <rptOwnerName>MERRILL LYNCH &amp; CO., INC.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4 WORLD FINANCIAL CENTER</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10080</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000728612</rptOwnerCik>
            <rptOwnerName>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INC.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4 WORLD FINANCIAL CENTER</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10080</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Auction Rate Preferred</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>728</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The securities reported on this Form 3 are subject to repurchase under the terms of Merrill Lynch &amp; Co.'s (&quot;MLCO&quot;) settlement
 with the Securities and Exchange Commission (the &quot;Commission&quot;), et alia, with respect to certain auction rate securities
 (&quot;Subject Securities&quot;) sold by MLCO and/or held by customers in accounts at MLCO.  The repurchases of the Subject Securities
 by MLCO, and the reporting of its holdings of such Subject Securities by MLCO, are being made in reliance on the Auction
 Rate Securities-Global Relief Letter issued by the Commission on September 22, 2008 (the &quot;Relief Letter&quot;).  In reliance on
 the Relief Letter, we are reporting our holdings of each series of preferred stock of the issuer on a consolidated basis as
 a single class of securities.</footnote>
        <footnote id="F2">In further reliance on the Relief Letter, we will not file Forms 4 to report changes in our beneficial ownership of the
 issuer's preferred stock.  However, in compliance with the terms of the Relief Letter, we hereby undertake to provide upon
 request by the Commission, the issuer or a security holder of the issuer, complete information regarding the number of
 equity securities of the issuer purchased or sold at each different price and date of all transactions in such securities
 that occurred after we became a 10% owner but prior to the date of this filing.</footnote>
        <footnote id="F3">Merrill Lynch &amp; Co., Inc. indirectly through its wholly-owned subsidiary Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated
 owns 728 shares of the issuer's preferred stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Merrill Lynch &amp; Co, Inc., By:  /s/ Pia Thompson, Assistant Secretary</signatureName>
        <signatureDate>2009-01-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Merrill Lynch, Pierce, Fenner &amp; Smith, Inc., By:  /s/ Pia Thompson, Assistant Secretary</signatureName>
        <signatureDate>2009-01-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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