PUTNAM INVESTORS FUND
NSAR-B, EX-27, 2000-09-27
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Putnam Investors Fund
</LEGEND>
<SERIES>
   <NUMBER> 5
   <NAME> CLASS M

<S>                             <C>
<PERIOD-TYPE>                   ANNUAL
<FISCAL-YEAR-END>                          JUL-31-2000
<PERIOD-END>                               JUL-31-2000
<INVESTMENTS-AT-COST>                   10,982,655,520
<INVESTMENTS-AT-VALUE>                  14,834,686,569
<RECEIVABLES>                              128,646,500
<ASSETS-OTHER>                              30,329,541
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                          14,993,662,610
<PAYABLE-FOR-SECURITIES>                   108,633,897
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   45,746,132
<TOTAL-LIABILITIES>                        154,380,029
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                10,805,167,655
<SHARES-COMMON-STOCK>                       15,598,213
<SHARES-COMMON-PRIOR>                       12,924,354
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    188,040,374
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                 3,846,074,552
<NET-ASSETS>                            14,839,282,581
<DIVIDEND-INCOME>                           66,072,194
<INTEREST-INCOME>                           11,232,231
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             138,668,636
<NET-INVESTMENT-INCOME>                   (61,364,211)
<REALIZED-GAINS-CURRENT>                   208,732,337
<APPREC-INCREASE-CURRENT>                1,670,549,200
<NET-CHANGE-FROM-OPS>                    1,817,917,326
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                   (1,775,117)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      7,047,466
<NUMBER-OF-SHARES-REDEEMED>                (4,470,093)
<SHARES-REINVESTED>                             96,486
<NET-CHANGE-IN-ASSETS>                   4,724,118,932
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                   69,793,441
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                       57,830,167
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                            140,856,355
<AVERAGE-NET-ASSETS>                       248,224,589
<PER-SHARE-NAV-BEGIN>                            15.46
<PER-SHARE-NII>                                  (.13)
<PER-SHARE-GAIN-APPREC>                           2.70
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        (.13)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              17.90
<EXPENSE-RATIO>                                   1.36
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


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