49644 1/99
PROSPECTUS SUPPLEMENT
dated January 20, 1999 to:
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PUTNAM GLOBAL GROWTH FUND (THE "FUND")
Prospectuses dated February 28, 1998
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:
Business experience
Year (at least 5 years)
------- ------------------------
Robert J. Swift 1996 Employed as an investment
Managing Director professional by Putnam
Management since 1995.
Prior to August, 1995,
Mr. Swift was Director
and Senior Portfolio
Manager at IAI
International/Hill Samuel
Investment Advisors.
Kelly A. Morgan 1996 Employed as an investment
Senior Vice President professional by Putnam
Management since 1996.
Prior
to December, 1996, Ms.
Morgan was Senior Vice
President of Alliance
Capital Management L.P.
David J. Santos 1999 Employed as an investment
Senior Vice President professional by Putnam
Management since 1986.
Lisa Svensson 1998 Employed as an investment
Senior Vice President professional by
Putnam Management since
1994. Prior to July,
1994, Ms. Svensson
attended Alfred P. Sloan
School of Management,
Massachusetts Institute
of Technology.
Manuel Weiss 1998 Employed as an investment
Senior Vice President professional by Putnam
Management since
1987.
Olivier M. Rudigoz 1998 Employed as an investment
Vice President professional by
Putnam Management since
1998. Prior
to April, 1998, Mr.
Rudigoz
was a Portfolio
Manager at
Paribus Asset
Management.