Mr. Salm is a Co-Head of Fixed Income, specializing in liquid markets and securitized strategies. In this role, he oversees investment strategies related to mortgage and securitized products, interest-rate and volatility derivatives, and money markets. In addition, he manages trading operations and Putnam's Fixed Income quantitative teams. He is a portfolio manager of core global, core plus, global government, fixed income global alpha, and dedicated mortgage strategies, as well as fixed income hedge funds. Mr. Salm joined Putnam in 1997 and has been in the investment industry since 1989. Previously at Putnam, he served as a Portfolio Manager responsible for mortgage strategies in fixed income portfolios. Prior to joining Putnam, Mr. Salm was a Mortgage Specialist at BlackRock Financal Management from 1996 to 1997, a Vice President and Trader at Nomura Securities from 1994 to 1996, a Vice President and Structurer at Nikko Securities from 1993 to 1994, and an Analyst at Fitch Investor Services from 1991 to 1992. Mr. Salm earned a B.S. from Cornell University.

Albert Chan, CFA, Head of Portfolio Construction & Analytics, has served as portfolio manager of the Fund since 2024 and joined Franklin Advisers in 2024. Prior to joining Franklin Advisers, Mr. Chan was Head of Portfolio Construction and a portfolio manager at Putnam Investment Management, LLC.

Mr. Walkup is a Portfolio Manager in the Fixed Income group, focusing on interest rates markets and volatility. He joined Putnam in 2014 and has been in the investment industry since 2012. Previously at Putnam, Mr. Walkup served as an Analyst and an Investment Associate in Quantitative Research. Mr. Walkup earned an M.S. in Finance from the Massachusetts Institute of Technology Sloan School of Management and a B.A. in Mathematical Economics from Pomona College.

Patrick Klein is a senior vice president and portfolio manager for Franklin Templeton Fixed Income - Multi-Sector in San Mateo, California, United States. Dr. Klein is responsible for leading a team managing multisector fixed income strategies, with a focus on portfolio construction and quantitative modeling. Dr. Klein has over 18 years of experience in the financial services industry. Prior to his current role, Dr. Klein was a research analyst for Franklin Templeton Fixed Income. He joined Franklin Templeton in 2005, specializing in mortgage-backed securities. Previously, he was a researcher at Sandia National Laboratories, developing models for the computer simulation of material behavior. Dr. Klein holds a bachelor of arts in mechanical engineering and materials science from Cornell University, and a PhD in mechanical engineering from Stanford University.

Benjamin Cryer is a vice president and portfolio manager for Franklin Templeton Investments. In his role, Mr. Cryer collaborates with other members of the multi-sector fixed income portfolio management team to develop and implement investment strategies across funds. Mr. Cryer has honed a fundamental, value-oriented investment philosophy since joining the firm as a research analyst in 2006. Over that time, he has cultivated an expertise across a variety of sectors in both equity and corporate credit. Most recently, Mr. Cryer has focused on emerging markets credit research and portfolio management, including spending the two years through 2015 on assignment in Singapore. Mr. Cryer holds an MBA from the UCLA Anderson School, as well as a BA and MA from Baylor University. He is a Chartered Financial Analyst (CFA) charterholder.