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<PAGE> PAGE 2
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<PAGE> PAGE 3
022 B000003 13-3174112
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<PAGE> PAGE 4
027 000000 Y
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 I020000 N
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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>
Financial Data Schedule for Putnam Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 11,459,082,797
<INVESTMENTS-AT-VALUE> 14,921,477,667
<RECEIVABLES> 159,940,102
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<OTHER-ITEMS-ASSETS> 0
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<PAYABLE-FOR-SECURITIES> 127,796,700
<SENIOR-LONG-TERM-DEBT> 0
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<SENIOR-EQUITY> 0
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<ACCUMULATED-NII-CURRENT> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 14,904,290,156
<DIVIDEND-INCOME> 49,588,577
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<OTHER-INCOME> 0
<EXPENSES-NET> 84,147,808
<NET-INVESTMENT-INCOME> (22,805,836)
<REALIZED-GAINS-CURRENT> 246,539,572
<APPREC-INCREASE-CURRENT> 1,477,844,533
<NET-CHANGE-FROM-OPS> 1,701,578,269
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<DISTRIBUTIONS-OF-GAINS> (548,605,537)
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<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>
Financial Data Schedule for Putnam Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 11,459,082,797
<INVESTMENTS-AT-VALUE> 14,921,477,667
<RECEIVABLES> 159,940,102
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<OTHER-ITEMS-ASSETS> 0
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<PAYABLE-FOR-SECURITIES> 127,796,700
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<OTHER-ITEMS-LIABILITIES> 52,453,082
<TOTAL-LIABILITIES> 180,247,782
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,336,860,923
<SHARES-COMMON-STOCK> 285,609,361
<SHARES-COMMON-PRIOR> 224,833,465
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 127,840,199
<OVERDISTRIBUTION-GAINS> 0
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<SHARES-REINVESTED> 16,881,729
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<ACCUMULATED-NII-PRIOR> 71,435,499
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Financial Data Schedule for Putnam Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> OTHER
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<REALIZED-GAINS-CURRENT> 246,539,572
<APPREC-INCREASE-CURRENT> 1,477,844,533
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<NUMBER-OF-SHARES-REDEEMED> (837,759)
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<ACCUMULATED-NII-PRIOR> 71,435,499
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 33,886,725
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 85,703,393
<AVERAGE-NET-ASSETS> 116,865,312
<PER-SHARE-NAV-BEGIN> 15.60
<PER-SHARE-NII> (.05)
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<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.09)
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<PER-SHARE-NAV-END> 16.64
<EXPENSE-RATIO> .77
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Financial Data Schedule for Putnam Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS Y
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-END> JAN-31-1997
<INVESTMENTS-AT-COST> 11,459,082,797
<INVESTMENTS-AT-VALUE> 14,921,477,667
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<SENIOR-EQUITY> 0
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<SHARES-COMMON-STOCK> 56,438,979
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<NET-INVESTMENT-INCOME> (22,805,836)
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<APPREC-INCREASE-CURRENT> 1,477,844,533
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<NUMBER-OF-SHARES-REDEEMED> (6,672,943)
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</TABLE>
