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008 B000001 A
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012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
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013 A000001 PRICE WATERHOUSE
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013 B020001 MA
013 B030001 02110
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<PAGE> PAGE 2
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020 A000001 PRUDENTIAL-BACHE SECURITIES,INC.
020 B000001 22-2347336
020 C000001 9
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020 A000003 SALOMON BROTHERS INC
020 B000003 13-3082694
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020 C000004 1
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<PAGE> PAGE 3
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022 C000008 9580
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE GORDON H. SILVER
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM PUTNAM HIGH INCOME CONVERTIBLE BOND AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1994
<PERIOD-END> AUG-31-1994
<INVESTMENTS-AT-COST> $118,903,602
<INVESTMENTS-AT-VALUE> $118,304,658
<RECEIVABLES> $3,549,030
<ASSETS-OTHER> $506
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> $121,854,194
<PAYABLE-FOR-SECURITIES> $1,589,613
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> $1,276,158
<TOTAL-LIABILITIES> $2,865,771
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> $121,180,785
<SHARES-COMMON-STOCK> 13,037,556
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> $(2,238,713)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> $(598,944)
<NET-ASSETS> $118,988,423
<DIVIDEND-INCOME> $1,107,844
<INTEREST-INCOME> $10,397,967
<OTHER-INCOME> $0
<EXPENSES-NET> $1,294,272
<NET-INVESTMENT-INCOME> $10,211,539
<REALIZED-GAINS-CURRENT> $8,210,595
<APPREC-INCREASE-CURRENT> $(12,273,492)
<NET-CHANGE-FROM-OPS> $6,148,642
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> $(11,317,308)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> $(4,296,507)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> $930,418
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> $1,294,272
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> $9.52
<PER-SHARE-NII> .78
<PER-SHARE-GAIN-APPREC> (.30)
<PER-SHARE-DIVIDEND> (.87)
<PER-SHARE-DISTRIBUTIONS> (.87)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> $9.13
<EXPENSE-RATIO> 1.04
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
