Putnam Master Intermediate Income Trust (the Fund) is a closed-end management investment company. The Fund's investment objective is to seek to provide high current income and relative stability of net asset value by allocating its investments among the United States investment grade sector, high-yield sector, and international sector. The Fund's portfolio includes the United States Government and agency mortgage obligations; mortgage-backed securities; corporate bonds and notes, and foreign government and agency bonds and notes. The Fund invests in various sectors, including agency pass-through, commercial mortgage-backed securities (MBS), high-yield corporate bonds, agency collateralized mortgage obligation (CMO), residential MBS (non-agency), emerging-market bonds, international treasury/agency securities, investment-grade corporate bonds, bank loans and equity investments. The Fund's investment manager is Putnam Investment Management, LLC.