PUTNAM CAPITAL MANAGER TRUST
Prospectus Supplement dated March 6, 1995
to Prospectuses dated May 1, 1994
and May 1, 1994, as revised July 1, 1994
Jennifer E. Leichter, Senior Vice President of Putnam Investment
Management, Inc. ("Putnam Management"), Mark Turner, Managing
Director of Putnam Management, D. William Kohli, Senior Vice
President of Putnam Management, Neil J. Powers, Vice President of
Putnam Management, and Mark J. Siegel, Vice President of Putnam
Management, each a Vice President of the Trust, have had primary
responsibility for the day-to-day management of PCM Diversified
Income Fund's portfolio since September, 1993, July, 1994,
September, 1994, September, 1994, and November, 1994,
respectively. Ms. Leichter and Mr. Powers have been employed by
Putnam Management since 1987 and 1986, respectively. Mr. Turner
has been employed by Putnam Management since November, 1992.
Prior to November, 1992, Mr. Turner was Managing Director of
Scudder, Stevens & Clark, Inc. Mr. Kohli has been employed by
Putnam Management since September, 1994. Prior to September,
1994, Mr. Kohli was Executive Vice President and Co-Director of
Global Bond Management and, prior to October, 1993, Senior
Portfolio Manager, at Franklin Advisors/Templeton Investment
Counsel. Mr. Siegel has been employed by Putnam Management since
June, 1993. Prior to June, 1993, Mr. Siegel was Vice President
of Salomon Brothers International Ltd.
William J. Landes and Mark Turner, each a Managing Director of
Putnam Management, David L. King, John K. Storkerson, D. William
Kohli and Richard M. Frucci, each a Senior Vice President of
Putnam Management, and Christopher A. Ray and David J. Santos,
each a Vice President of Putnam Management, each of whom is a
Vice President of the Trust, have had primary responsibility for
the day-to-day management of PCM Global Asset Allocation Fund's
portfolio since July, 1993, July, 1994, December, 1993, December,
1993, September, 1994, March, 1995, January, 1993, and March,
1995, respectively. Messrs. Landes, King, Storkerson, Frucci and
Santos have been employed by Putnam Management since 1985, 1983,
1979, 1984 and 1986, respectively. Mr. Turner has been employed
by Putnam Management since November, 1992. Prior to November,
1992, Mr. Turner was Managing Director of Scudder, Stevens &
Clark, Inc. Mr. Kohli has been employed by Putnam Management
since September, 1994. Prior to September, 1994, Mr. Kohli was
Executive Vice President and Co-Director of Global Bond
Management and, prior to October, 1993, was Senior Portfolio
Manager at Franklin Advisors/Templeton Investment Counsel. Mr.
Ray has been employed by Putnam Management since December, 1992.
Prior to December, 1992, Mr. Ray was Vice President and Portfolio
Manager at Scudder, Stevens & Clark, Inc., and from February,
1986 to March, 1992, Mr. Ray was Vice President of Putnam
Management.
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Sheldon N. Simon, Senior Vice President of Putnam Management and
Christopher A. Ray, Vice President of Putnam Management, each a
Vice President of the Trust, have had primary responsibility for
the day-to-day management of PCM Utilities Growth and Income
Fund's portfolio since May, 1992 and March, 1995, respectively.
Mr. Simon has been employed by Putnam Managment since 1984. Mr.
Ray has been employed by Putnam Management since December, 1992.
Prior to December, 1992, Mr. Ray was Vice President and Portfolio
Manager at Scudder, Stevens & Clark, Inc., and from February,
1986 to March, 1992, Mr. Ray was Vice President of Putnam
Management. Effective April, 1995, Roland W. Gillis, Robert R.
Beck and Charles H. Swanberg, each a Senior Vice President of
Putnam Management and Vice President of the Trust, will have
primary responsibility for the day-to-day management of PCM
Voyager Fund's portfolio. Mr. Gillis, who will assume this
responsibility in April, was employed by Putnam Management in
1995 and was previously Vice President of Keystone Custodian
Funds, Inc. Mr. Beck, who assumed this reponsibility earlier in
1995, and Mr. Swanberg, who assumed this responsibility in 1994,
have been employed by Putnam Management since 1989 and 1984,
respectively.
