<PAGE> PAGE 1
000 A000000 08/31/96
000 C000000 0000810943
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 PUTNAM HIGH INCOME CONVERTIBLE AND BOND FUND
001 B000000 811-5133
001 C000000 6172921562
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 PUTNAM INVESTMENT MANAGEMENT, INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTURAL FUNDS CORP.
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 PRICE WATERHOUSE LLP
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02110
015 A000001 PUTNAM FIDUCIARY TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 98
019 C000000 PUTNAMFUND
020 A000001 PRUDENTIAL SECURITIES INC.
020 B000001 22-2347336
020 C000001 24
020 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000002 13-5674085
020 C000002 6
020 A000003 PAINE WEBBER INC.
020 B000003 13-2638166
020 C000003 5
020 A000004 FIRST BOSTONE CO.
020 B000004 13-5659485
020 C000004 5
020 A000005 SALOMON BROTHERS INC.
020 B000005 13-3082694
020 C000005 4
020 A000006 REPUBLIC SECURITIES INC.
020 B000006 13-2972987
020 C000006 2
020 A000007 EDWARDS (A.G.) & SONS INC.
020 B000007 43-0895477
020 C000007 2
020 A000008 FORUM CAPITAL MARKETS
020 B000008 62-1287496
020 C000008 2
020 A000009 SMITH, BARNEY, HARRIS, UPHAM & CO.
020 B000009 13-1912900
020 C000009 1
020 A000010 COMMONWEALTH EQUITY SERVICES
020 C000010 1
021 000000 53
022 A000001 MORGAN (J.P.) SECURITIES INC.
022 B000001 13-3224016
022 C000001 759923
022 D000001 0
022 A000002 MORGAN STANLEY INC.
022 B000002 13-2655998
022 C000002 116291
022 D000002 3980
022 A000003 LEHMAN BROTHERS
022 B000003 13-2518466
<PAGE> PAGE 3
022 C000003 110450
022 D000003 4137
022 A000004 GOLDMAN SACHS & CO.
022 B000004 13-5108880
022 C000004 76458
022 D000004 1306
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000005 13-5674085
022 C000005 27433
022 D000005 2900
022 A000006 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000006 13-2741729
022 C000006 4866
022 D000006 4231
022 A000007 BEAR STERNS & CO.
022 B000007 13-4946705
022 C000007 5886
022 D000007 1921
022 A000008 JEFFERIES & CO.
022 B000008 95-2622900
022 C000008 1423
022 D000008 5126
022 A000009 SALOMON BROTHERS INC.
022 B000009 13-3082694
022 C000009 3592
022 D000009 2372
022 A000010 FIRST TRYON SECURITIES, INC.
022 B000010 56-1498334
022 C000010 3181
022 D000010 2336
023 C000000 1128572
023 D000000 46094
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
026 H000000 N
027 000000 N
<PAGE> PAGE 4
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
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028 C030000 0
028 C040000 0
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028 D030000 0
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046 000000 N
<PAGE> PAGE 5
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.750
048 B010000 500000
048 B020000 0.650
048 C010000 500000
048 C020000 0.600
048 D010000 0
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048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
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048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 1500000
048 K020000 0.550
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
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054 C000000 Y
054 D000000 N
054 E000000 N
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054 H000000 N
054 I000000 N
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056 000000 N
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<PAGE> PAGE 6
060 B000000 Y
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062 Q000000 48.2
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070 H020000 N
070 I010000 N
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070 J010000 Y
070 J020000 Y
070 K010000 Y
<PAGE> PAGE 7
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
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070 N020000 N
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071 B000000 73721
071 C000000 120279
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072 A000000 12
072 B000000 11476
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072AA000000 1260
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072DD010000 11263
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<PAGE> PAGE 8
072EE000000 0
073 A010000 0.8520
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 138
074 B000000 5401
074 C000000 0
074 D000000 100294
074 E000000 14490
074 F000000 1277
074 G000000 0
074 H000000 0
074 I000000 3342
074 J000000 108
074 K000000 0
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074 M000000 0
074 N000000 127312
074 O000000 164
074 P000000 265
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074 R020000 0
074 R030000 0
074 R040000 1019
074 S000000 0
074 T000000 125864
074 U010000 13272
074 U020000 0
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074 V020000 0.00
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074 Y000000 0
075 A000000 0
075 B000000 126269
076 000000 10.13
077 A000000 Y
077 B000000 Y
077 C000000 Y
080 A000000 FEDERAL INSURANCE COMPANY
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000 50000
081 A000000 Y
081 B000000 97
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
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<PAGE> PAGE 9
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
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086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 523
086 E020000 0
086 F010000 0
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SIGNATURE PAUL BUCUVALAS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY
FINANCIAL INFORMATION EXTRACTED
FROM Putnam High Income Convertible and
Bond Fund AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE>YEAR
<FISCAL-YEAR-END>AUG-31-1996
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST >122,493,174
<INVESTMENTS-AT-VALUE>124,804,201
<RECEIVABLES>2,370,024
<ASSETS-OTHER>137,505
<OTHER-ITEMS-ASSETS>0
<TOTAL-ASSETS>127,311,730
<PAYABLE-FOR-SECURITIES>164,028
<SENIOR-LONG-TERM-DEBT>0
<OTHER-ITEMS-LIABILITIES>1,284,074
<TOTAL-LIABILITIES>1,448,102
<SENIOR-EQUITY>0
<PAID-IN-CAPITAL-COMMON>124,111,195
<SHARES-COMMON-STOCK>13,272,242
<SHARES-COMMON-PRIOR>13,158,906
<ACCUMULATED-NII-CURRENT>490,442
<OVERDISTRIBUTION-NII>0
<ACCUMULATED-NET-GAINS>0
<OVERDISTRIBUTION-GAINS> (657,406)
<ACCUM-APPREC-OR-DEPREC>2,311,027
<NET-ASSETS> 125,863,628
<DIVIDEND-INCOME>1,416,499
<INTEREST-INCOME>11,476,132
<OTHER-INCOME>0
<EXPENSES-NET>1,293,887
<NET-INVESTMENT-INCOME>11,598,744
<REALIZED-GAINS-CURRENT>1,260,469
<APPREC-INCREASE-CURRENT>(1,728,563)
<NET-CHANGE-FROM-OPS>11,130,650
<EQUALIZATION>0
<DISTRIBUTIONS-OF-INCOME>(11,263,468)
<DISTRIBUTIONS-OF-GAINS>0
<DISTRIBUTIONS-OTHER>0
<NUMBER-OF-SHARES-SOLD>0
<NUMBER-OF-SHARES-REDEEMED>0
<SHARES-REINVESTED>0
<NET-CHANGE-IN-ASSETS>953,028
<ACCUMULATED-NII-PRIOR>202,643
<ACCUMULATED-GAINS-PRIOR>0
<OVERDISTRIB-NII-PRIOR>0
<OVERDIST-NET-GAINS-PRIOR>(2,356,982)
<GROSS-ADVISORY-FEES>947,376
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE>1,335,518
<AVERAGE-NET-ASSETS>126,268,807
<PER-SHARE-NAV-BEGIN>9.49
<PER-SHARE-NII>.88
<PER-SHARE-GAIN-APPREC>(.04)
<PER-SHARE-DIVIDEND>(.85)
<PER-SHARE-DISTRIBUTIONS>0
<RETURNS-OF-CAPITAL>0
<PER-SHARE-NAV-END>9.48
<EXPENSE-RATIO>1.06
<AVG-DEBT-OUTSTANDING>0
<AVG-DEBT-PER-SHARE>0
</TABLE>
