PUTNAM VOYAGER FUND
NSAR-A, 1996-03-29
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<PAGE>      PAGE  1
000 A000000 01/31/96
000 C000000 0000081280
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 PUTNAM VOYAGER FUND
001 B000000 811-1682
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
005  000000 N
006  000000 N
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007 C010700  7
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008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS CORP
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 PRICE WATERHOUSE LLP
013 B010001 BOSTON
013 B020001 MA
<PAGE>      PAGE  2
013 B030001 02110
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000   98
019 C000000 PUTNAMFUND
020 A000001 PAINWEBBER INC.
020 B000001 13-2638166
020 C000001    490
020 A000002 SALOMON BROTHERS INC.
020 B000002 13-3082694
020 C000002    292
020 A000003 MORGAN STANLEY INC.
020 B000003 13-2655998
020 C000003    279
020 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000004 13-5674085
020 C000004    264
020 A000005 EDWARDS (A.G.) & SONS INC.
020 B000005 43-0895477
020 C000005    213
020 A000006 FIRST BOSTON CO.
020 B000006 13-5659485
020 C000006    208
020 A000007 SMITH, BARNEY, HARRIS, UPHAM & CO.
020 B000007 13-1912900
020 C000007    156
020 A000008 LEHMAN BROTHERS
020 B000008 13-2518466
020 C000008    155
020 A000009 ROYAL ALLIANCE ASSOCIATES, INC.
020 B000009 93-0987232
020 C000009    150
020 A000010 DONALDSON, LUFKIN & JENRETTE SECURUTIES CORP.
020 B000010 13-2741729
020 C000010    124
021  000000     5105
022 A000001 GOLDMAN SACHS & CO.
022 B000001 13-5108880
022 C000001    238547
022 D000001     53801
022 A000002 MORGAN STANLEY INC.
022 B000002 13-2655998
022 C000002    139893
022 D000002     10535
022 A000003 SMITH, BARNEY, HARRIS, UPHAM & CO.
<PAGE>      PAGE  3
022 B000003 13-1912900
022 C000003     69706
022 D000003     79117
022 A000004 SALOMON BROTHERS INC.
022 B000004 13-3082694
022 C000004     87054
022 D000004     58347
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000005 13-5674085
022 C000005     87979
022 D000005     37199
022 A000006 BROWN (ALEX) & SONS, INC.
022 B000006 52-0256630
022 C000006     96571
022 D000006     26291
022 A000007 NEEDHAM & CO.
022 B000007 13-3255839
022 C000007     18188
022 D000007     87573
022 A000008 FIRST BOSTON CO.
022 B000008 13-5659485
022 C000008     57585
022 D000008     42688
022 A000009 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000009 13-2741729
022 C000009     74194
022 D000009     25337
022 A000010 DAIN BOSWORTH INC.
022 B000010 41-0212020
022 C000010     40580
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<PAGE>      PAGE  4
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<PAGE>      PAGE  6
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<PAGE>      PAGE  9
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080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
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SIGNATURE   PAUL BUCUVALAS                               
TITLE       VICE PRESIDENT      
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED 
FROM Putnam Voyager Fund Class A AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>                         SEMI
<FISCAL-YEAR-END>	JUL-31-95
<PERIOD-END>	JAN-31-96
<INVESTMENTS-AT-COST >  6,918,567,575	    
<INVESTMENTS-AT-VALUE>	9,378,697,814
<RECEIVABLES>	140,505,577
<ASSETS-OTHER>	371
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	9,519,203,762
<PAYABLE-FOR-SECURITIES>	155,241,935
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	26,715,855
<TOTAL-LIABILITIES>	181,957,790
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	6,682,900,270
<SHARES-COMMON-STOCK>	404,680,351
<SHARES-COMMON-PRIOR>	339,575,203
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(12,779,455)
<ACCUMULATED-NET-GAINS>	206,997,584
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	2,460,127,573
<NET-ASSETS>	9,337,245,972
<DIVIDEND-INCOME>	30,222,206
<INTEREST-INCOME>	6,488,247
<OTHER-INCOME>	0
<EXPENSES-NET>	49,637,325
<NET-INVESTMENT-INCOME>	(12,779,455)
<REALIZED-GAINS-CURRENT>	398,424,806
<APPREC-INCREASE-CURRENT>	620,138,566
<NET-CHANGE-FROM-OPS>	1,005,770,152
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	(317,078,060)
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	85,616,790
<NUMBER-OF-SHARES-REDEEMED>	(41,289,148)
<SHARES-REINVESTED>	20,777,506
<NET-CHANGE-IN-ASSETS>	2,200,875,076
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	285,497,734
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	21,103,257
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	49,637,325
<AVERAGE-NET-ASSETS>	5,478,017,919
<PER-SHARE-NAV-BEGIN>	14.42
<PER-SHARE-NII>	(.01)
<PER-SHARE-GAIN-APPREC>	1.85
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	(.86)
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	15.40
<EXPENSE-RATIO>	.52
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED 
FROM Putnam Voyager Fund Class B AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>                         SEMI
<FISCAL-YEAR-END>	JUL-31-95
<PERIOD-END>	JAN-31-96
<INVESTMENTS-AT-COST >  6,918,567,575	    
<INVESTMENTS-AT-VALUE>	9,378,697,814
<RECEIVABLES>	140,505,577
<ASSETS-OTHER>	371
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	9,519,203,762
<PAYABLE-FOR-SECURITIES>	155,241,935
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	26,715,855
<TOTAL-LIABILITIES>	181,957,790
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	6,682,900,270
<SHARES-COMMON-STOCK>	175,600,527
<SHARES-COMMON-PRIOR>	133,480,732
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(12,779,455)
<ACCUMULATED-NET-GAINS>	206,997,584
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	2,460,127,573
<NET-ASSETS>	9,337,245,972
<DIVIDEND-INCOME>	30,222,206
<INTEREST-INCOME>	6,488,247
<OTHER-INCOME>	0
<EXPENSES-NET>	49,637,325
<NET-INVESTMENT-INCOME>	(12,779,455)
<REALIZED-GAINS-CURRENT>	398,424,806
<APPREC-INCREASE-CURRENT>	620,138,566
<NET-CHANGE-FROM-OPS>	1,005,770,152
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	(135,044,884)
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	43,275,105
<NUMBER-OF-SHARES-REDEEMED>	(10,051,074)
<SHARES-REINVESTED>	8,895,764
<NET-CHANGE-IN-ASSETS>	2,200,875,076
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	285,497,734
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	21,103,257
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	49,637,325
<AVERAGE-NET-ASSETS>	2,206,003,933
<PER-SHARE-NAV-BEGIN>	14.01
<PER-SHARE-NII>	(.03)
<PER-SHARE-GAIN-APPREC>	1.77
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	(.86)
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	14.89
<EXPENSE-RATIO>	.90
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED 
FROM Putnam Voyager Fund Class M AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>                         SEMI
<FISCAL-YEAR-END>	JUL-31-95
<PERIOD-END>	JAN-31-96
<INVESTMENTS-AT-COST >  6,918,567,575	    
<INVESTMENTS-AT-VALUE>	9,378,697,814
<RECEIVABLES>	140,505,577
<ASSETS-OTHER>	371
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	9,519,203,762
<PAYABLE-FOR-SECURITIES>	155,241,935
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	26,715,855
<TOTAL-LIABILITIES>	181,957,790
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	6,682,900,270
<SHARES-COMMON-STOCK>	3,166,028
<SHARES-COMMON-PRIOR>	1,322,330
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(12,779,455)
<ACCUMULATED-NET-GAINS>	206,997,584
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	2,460,127,573
<NET-ASSETS>	9,337,245,972
<DIVIDEND-INCOME>	30,222,206
<INTEREST-INCOME>	6,488,247
<OTHER-INCOME>	0
<EXPENSES-NET>	49,637,325
<NET-INVESTMENT-INCOME>	(12,779,455)
<REALIZED-GAINS-CURRENT>	398,424,806
<APPREC-INCREASE-CURRENT>	620,138,566
<NET-CHANGE-FROM-OPS>	1,005,770,152
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	(2,100,491)
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	1,931,282
<NUMBER-OF-SHARES-REDEEMED>	(225,264)
<SHARES-REINVESTED>	137,680
<NET-CHANGE-IN-ASSETS>	2,200,875,076
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	285,497,734
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	21,103,257
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	49,637,325
<AVERAGE-NET-ASSETS>	32,323,816
<PER-SHARE-NAV-BEGIN>	14.37
<PER-SHARE-NII>	(.02)
<PER-SHARE-GAIN-APPREC>	1.83
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	(.86)
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	15.32
<EXPENSE-RATIO>	.72
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED 
FROM Putnam Voyager Fund Class Y AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>                         SEMI
<FISCAL-YEAR-END>	JUL-31-95
<PERIOD-END>	JAN-31-96
<INVESTMENTS-AT-COST >  6,918,567,575	    
<INVESTMENTS-AT-VALUE>	9,378,697,814
<RECEIVABLES>	140,505,577
<ASSETS-OTHER>	371
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	9,519,203,762
<PAYABLE-FOR-SECURITIES>	155,241,935
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	26,715,855
<TOTAL-LIABILITIES>	181,957,790
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	6,682,900,270
<SHARES-COMMON-STOCK>	28,576,306
<SHARES-COMMON-PRIOR>	24,291,891
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(12,779,455)
<ACCUMULATED-NET-GAINS>	206,997,584
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	2,460,127,573
<NET-ASSETS>	9,337,245,972
<DIVIDEND-INCOME>	30,222,206
<INTEREST-INCOME>	6,488,247
<OTHER-INCOME>	0
<EXPENSES-NET>	49,637,325
<NET-INVESTMENT-INCOME>	(12,779,455)
<REALIZED-GAINS-CURRENT>	398,424,806
<APPREC-INCREASE-CURRENT>	620,138,566
<NET-CHANGE-FROM-OPS>	1,005,770,152
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	(22,691,613)
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	5,404,738
<NUMBER-OF-SHARES-REDEEMED>	(2,660,847)
<SHARES-REINVESTED>	1,540,524
<NET-CHANGE-IN-ASSETS>	2,200,875,076
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	285,497,734
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	21,103,257
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	49,637,325
<AVERAGE-NET-ASSETS>	395,954,254
<PER-SHARE-NAV-BEGIN>	14.48
<PER-SHARE-NII>	0.01
<PER-SHARE-GAIN-APPREC>	1.87
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<PER-SHARE-DISTRIBUTIONS>	(.86)
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<PER-SHARE-NAV-END>	15.50
<EXPENSE-RATIO>	.39
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0
        

</TABLE>


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