PUTNAM GLOBAL GROWTH FUND
Prospectus Supplement dated July 31, 1996 to
Prospectuses 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 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, such 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 Far East Team Leader and
Portfolio Manager at IAI
International/Hill Samuel
Investment Advisors.
Ami Kuan Danoff 1996 Employed as an investment
Vice President professional by Putnam
Management since April, 1993.
Prior to April, 1993, Ms. Danoff
attended the MIT Sloan School of
Management. Prior to July, 1991,
Ms. Danoff was an International
Equities Analyst at Fidelity
Management and Research Company.
Jeffrey Lindsey 1996 Employed as an investment
Vice President professional by Putnam Management
since April, 1994. Prior to
April, 1994, Mr. Lindsey was Vice
President at Strategic Portfolio
Management, Inc.
*************************
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. However, a CDSC of 1.00% or 0.50%,
respectively, will be imposed on redemptions (other than
redemptions by certain participant-directed qualified retirement
plans, which are subject to a two-year CDSC of 1.00%, as
described below) within the first or second year after purchase.
There are also no initial sales charges on class A shares
purchased by participant-directed qualified retirement plans with
at least 200 eligible employees. A CDSC of 1.00% will, however,
be imposed upon the redemption of shares purchased after July 31,
1996 at net asset value 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 sells 90% or more of the amount
initially invested within two years after its initial purchase.
Shares purchased by certain investors (including participant-
directed qualified retirement plans with at least 200 eligible
employees) investing $1 million or more who have made
arrangements with Putnam Mutual Funds and whose dealer of record
waived the commission as described below are not subject to the
CDSC.
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.
26936 8/96
<PAGE>
PUTNAM GLOBAL GROWTH FUND
Prospectus Supplement dated July 31, 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 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, such 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 Far East Team Leader and
Portfolio Manager at IAI
International/Hill Samuel
Investment Advisors.
Ami Kuan Danoff 1996 Employed as an investment
Vice President professional by Putnam
Management since April, 1993.
Prior to April, 1993, Ms. Danoff
attended the MIT Sloan School of
Management. Prior to July, 1991,
Ms. Danoff was an International
Equities Analyst at Fidelity
Management and Research Company.
Jeffrey Lindsey 1996 Employed as an investment
Vice President professional by Putnam Management
since April, 1994. Prior to
April, 1994, Mr. Lindsey was Vice
President at Strategic Portfolio
Management, Inc.
*************************
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-27271
8/96
<PAGE>
PUTNAM GLOBAL GROWTH FUND
Prospectus Supplement dated July 31, 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 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, such 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 Far East Team Leader and
Portfolio Manager at IAI
International/Hill Samuel
Investment Advisors.
Ami Kuan Danoff 1996 Employed as an investment
Vice President professional by Putnam
Management since April, 1993.
Prior to April, 1993, Ms. Danoff
attended the MIT Sloan School of
Management. Prior to July, 1991,
Ms. Danoff was an International
Equities Analyst at Fidelity
Management and Research Company.
Jeffrey Lindsey 1996 Employed as an investment
Vice President professional by Putnam Management
since April, 1994. Prior to
April, 1994, Mr. Lindsey was Vice
President at Strategic Portfolio
Management, Inc.
DC-27272 8/96
