PUTNAM GLOBAL GROWTH FUND
Prospectus Supplement dated December 9, 1996 to
Prospectus dated March 1, 1996
At a meeting held on July 31, 1996, shareholders of the fund
approved a number of changes to the fundamental investment
restrictions of the fund including the elimination of certain
restrictions. As a result, the fund may now:
o acquire more than 10% of the voting securities of any
issuer with respect to 25% of its total assets; and
o invest more than 5% of its total assets in the
securities of any issuer with respect to 25% of its
total assets. (Investments in obligations issued or
guaranteed as to interest or principal by the U.S.
government or its agencies or instrumentalities are not
subject to any limitation.)
The policies set forth above are fundamental and may not be
changed without shareholder approval. See the Statement of
Additional Information of the fund for the full text of these
policies as well as the fund's other fundamental policies, some
of which were also changed by vote of shareholders.
In addition, the fund's restriction with respect to investing up
to 5% of its assets in securities of issuers that have been in
operation for less than three years was made non-fundamental,
meaning that it may be changed in the future without shareholder
approval.
To the extent the fund invests a significant portion of its
assets in the securities of a particular issuer, the fund will be
subject to an increased risk of loss if the market value of such
issuer's securities declines.
*****************
The third paragraph under the heading "How the fund is managed"
is replaced with the following:
The following officers of Putnam Investment Management, Inc.,
("Putnam Management") have had primary responsibility for the
day-to-day management of the fund's portfolio since the years
stated below:
<PAGE>
BUSINESS EXPERIENCE
YEAR (AT LEAST 5 YEARS)
---- -------------------------
Anthony W. Regan 1987 Employed as an investment
Senior Managing Director professional by Putnam
Management since 1987.
Carol C. McMullen 1995 Employed as an investment
Managing Director professional by Putnam
Management since June, 1995.
Prior to June, 1995, Ms. McMullen
was a Senior Vice President of
Baring Asset Management.
Robert Swift 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since August, 1995.
Prior to August, 1995, Mr. Swift
was Director and Senior Portfolio
Manager at IAI International/Hill
Samuel Investment Advisors.
Ami T. Kuan 1996 Employed as an investment
Vice President professional by Putnam
Management since April, 1993.
Prior to April, 1993, Ms. Kuan
attended the MIT Sloan School of
Management.
C. Kim Goodwin 1996 Employed as an investment
Senior Vice President professional by Putnam Management
since May, 1996. Prior to May,
1996, Ms. Goodwin was Vice
President at Prudential Mutual
Fund Investment Management.
Prior to February, 1993, Ms.
Goodwin was Assistant Vice
President at Mellon Bank
Corporation.
*************************
The second and third paragraph and the first sentence of the
fourth paragraph under the heading "How to buy shares--Class A
shares" is replaced with the following:
There is no initial sales charge on purchases of class A shares
of $1 million or more or purchases by participant-directed
qualified retirement plans with at least 200 eligible employees.
However, a CDSC of 1.00% will be imposed upon redemptions of
shares purchased at net asset value after July 31, 1996 by a
participant-directed qualified retirement plan (including a plan
with at least 200 eligible employees) that initially invested
less than $20 million in Putnam funds and other investments
managed by Putnam Management or its affiliates and that redeems
90% or more of the amount initially invested within two years
after initial purchase. Similarly, a CDSC of 1.00% or 0.50%,
respectively, will be imposed within the first or second year
after purchase on redemptions by any investor, other than a
participant-directed qualified retirement plan, that purchased
fund shares without an initial sales charge as part of an
investment of $1 million or more.
Shares purchased by investors investing $1 million or more in
class A shares whose dealer of record waived its commission with
the approval of Putnam Mutual Funds are not subject to the CDSC.
In determining whether a CDSC is payable, shares not subject to
any charge will be redeemed first, followed by shares held
longest during the CDSC period. Any CDSC will be based on the
lower of the shares' cost and current net asset value. Any
shares acquired by reinvestment of distributions will be redeemed
without a CDSC. Putnam Mutual Funds receives the entire amount of
any CDSC you pay. See the SAI for more information about the
CDSC.
29851 11/96<PAGE>
PUTNAM GLOBAL GROWTH FUND
Prospectus Supplement dated December 9, 1996 to
Class A Defined Contribution Plan Prospectus
dated March 1, 1996
At a meeting held on July 31, 1996, shareholders of the fund
approved a number of changes to the fundamental investment
restrictions of the fund including the elimination of certain
restrictions. As a result, the fund may now:
o acquire more than 10% of the voting securities of any issuer
with respect to 25% of its total assets; and
o invest more than 5% of its total assets in the securities of
any issuer with respect to 25% of its total assets.
(Investments in obligations issued or guaranteed as to
interest or principal by the U.S. government or its agencies
or instrumentalities are not subject to any limitation.)
The policies set forth above are fundamental and may not be
changed without shareholder approval. See the Statement of
Additional Information of the fund for the full text of these
policies as well as the fund's other fundamental policies, some
of which were also changed by vote of shareholders.
In addition, the fund's restriction with respect to investing up
to 5% of its assets in securities of issuers that have been in
operation for less than three years was made non-fundamental,
meaning that it may be changed in the future without shareholder
approval.
To the extent the fund invests a significant portion of its
assets in the securities of a particular issuer, the fund will be
subject to an increased risk of loss if the market value of such
issuer's securities declines.
*****************
The third paragraph under the heading "How the fund is managed"
is replaced with the following:
The following officers of Putnam Investment Management, Inc.,
("Putnam Management") have had primary responsibility for the
day-to-day management of the fund's portfolio since the years
stated below:
<PAGE>
Business experience
Year (at least 5 years)
---- -------------------------
Anthony W. Regan 1987 Employed as an investment
Senior Managing Director professional by Putnam
Management since 1987.
Carol C. McMullen 1995 Employed as an investment
Managing Director professional by Putnam
Management since June, 1995.
Prior to June, 1995, Ms. McMullen
was a Senior Vice President of
Baring Asset Management.
Robert Swift 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since August, 1995.
Prior to August, 1995, Mr. Swift
was Director and Senior Portfolio
Manager at IAI International/Hill
Samuel Investment Advisors.
Ami T. Kuan 1996 Employed as an investment
Vice President professional by Putnam
Management since April, 1993.
Prior to April, 1993, Ms. Kuan
attended the MIT Sloan School of
Management.
C. Kim Goodwin 1996 Employed as an investment
Senior Vice President professional by Putnam Management
since May, 1996. Prior to May,
1996, Ms. Goodwin was Vice
President at Prudential Mutual
Fund Investment Management, and
prior to February, 1993, Ms.
Goodwin was Assistant Vice
President at Mellon Bank
Corporation.
*************************
The following text replaces the fifth sentence of the first
paragraph under the heading "How to buy shares":
In order to be eligible to purchase shares at net asset
value, a defined contribution plan must either initially
invest at least $20 million in Putnam funds and other
investments managed by Putnam Management or its affiliates
or, if the dealer of record waives its commission with
respect to such investment, initially invest at least $1
million in the fund.
The following text replaces the first four sentences of the
second paragraph under the heading "How to buy shares":
On sales of shares at net asset value to defined
contribution plans initially investing at least $20 million
in Putnam funds and other investments managed by Putnam
Management or its affiliates, Putnam Mutual Funds pays commissions on
the shares initially purchased and on subsequent net quarterly
sales at the rate of 0.15%.
DC-29852 11/96
<PAGE>
PUTNAM GLOBAL GROWTH FUND
Prospectus Supplement dated December 9, 1996 to
Class Y Defined Contribution Plan Prospectus
dated March 1, 1996
At a meeting held on July 31, 1996, shareholders of the fund
approved a number of changes to the fundamental investment
restrictions of the fund including the elimination of
certain restrictions. As a result, the fund may now:
o acquire more than 10% of the voting securities of any
issuer with respect to 25% of its total assets; and
o invest more than 5% of its total assets in the securities
of any issuer with respect to 25% of its total assets.
(Investments in obligations issued or guaranteed as to
interest or principal by the U.S. government or its
agencies or instrumentalities are not subject to any
limitation.)
The policies set forth above are fundamental and may not be
changed without shareholder approval. See the Statement of
Additional Information of the fund for the full text of
these policies as well as the fund's other fundamental
policies, some of which were also changed by vote of
shareholders.
In addition, the fund's restriction with respect to
investing up to 5% of its assets in securities of issuers
that have been in operation for less than three years was
made non-fundamental, meaning that it may be changed in the
future without shareholder approval.
To the extent the fund invests a significant portion of its
assets in the securities of a particular issuer, the fund
will be subject to an increased risk of loss if the market
value of such issuer's securities declines.
*****************
The third paragraph under the heading "How the fund is
managed" is replaced with the following:
The following officers of Putnam Investment Management,
Inc., ("Putnam Management") have had primary responsibility
for the day-to-day management of the fund's portfolio since
the years stated below:
<PAGE>
Business experience
Year (at least 5 years)
---- -------------------------
Anthony W. Regan 1987 Employed as an investment
Senior Managing Director professional by Putnam
Management since 1987.
Carol C. McMullen 1995 Employed as an investment
Managing Director professional by Putnam
Management since June,
1995. Prior to June,
1995, Ms. McMullen was a
Senior Vice President of
Baring Asset Management.
Robert Swift 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since August,
1995. Prior to August,
1995, Mr. Swift was
Director and Senior
Portfolio Manager at IAI
International/Hill Samuel
Investment Advisors.
Ami T. Kuan 1996 Employed as an investment
Vice President professional by Putnam
Management since April,
1993. Prior to April,
1993, Ms. Kuan attended
the MIT Sloan School of
Management.
C. Kim Goodwin 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since May, 1996.
Prior to May, 1996, Ms. Goodwin was
Vice President at Prudential Mutual
Fund Investment Management.
Prior to February, 1993,
Ms. Goodwin was Assistant
Vice President at Mellon
Bank Corporation.
DC-29853 11/96
