The Putnam Municipal Opportunities Trust (PMO) is a mutual fund that focuses on investing in municipal bonds. These bonds are issued by state and local governments to fund public projects such as schools, roads, and hospitals. The fund aims to provide investors with tax-free income by investing in high-quality municipal bonds with attractive yields. PMO also seeks to provide capital preservation and potential long-term growth through a diversified portfolio of municipal securities. With a focus on credit quality and risk management, PMO offers investors the opportunity to support local communities while potentially earning a steady stream of tax-free income.