PUTNAM VISTA FUND
Prospectus Supplement dated June 10, 1996
to Prospectuses dated December 1, 1995
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)
---- -------------------
Jennifer K. Silver 1991 Employed as an investment
Senior Vice President professional by Putnam
Management since 1981.
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
from June, 1990, to
February, 1993, Ms. Goodwin
was Assistant Vice President
at Mellon Bank Corporation.
Anthony C. Santosus 1994 Employed as an investment
Vice President professional by Putnam
Management since 1985.
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