PUTNAM VISTA FUND
Supplement 39235 12/97
dated December 8, 1997 to:
_________________________________________________________________
Putnam Vista Fund (the "fund")
Prospectuses dated November 30, 1997
In the section "How the fund is managed," the chart indicating
the officers of Putnam Investment Management, Inc. ("Putnam
Management") that have primary responsibility for the day-to-day
management of the fund is replaced with the following:
Business experience
Year (at least 5 years)
------- -------------------------
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 at Baring Asset
Management.
Michael P. Stack 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since November,
1997. Prior to November, 1997,
Mr. Stack was employed by
Independence Investment
Associates Inc. as a Senior
Vice President and Portfolio
Manager.
Anthony C. Santosus 1994 Employed as an investment Vice
Vice President professional by Putnam
Management since 1985.
David J. Santos 1996 Employed as an investment
Vice President professional by Putnam
Management since 1986.
