[Final]
[Translation]
Semi-annual Report
(During the Fifth Term)
From: October 1, 1998
To: March 31, 1999
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
PUTNAM DIVERSIFIED INCOME TRUST
Semi-annual Report
(During the Fifth Term)
From: October 1, 1998
To: March 31, 1999
PUTNAM DIVERSIFIED INCOME TRUST
Semi-annual Report
(During the Fifth Term)
From: October 1, 1998
To: March 31, 1999
To: Director of Kanto Local Finance Bureau
Filing Date: June 29, 1999
Name of the Registrant Trust: PUTNAM DIVERSIFIED INCOME TRUST
Name and Official Title of Trustees: George Putnam
William F. Pounds
John A. Hill
Jameson A. Baxter
Hans H. Estin
Ronald J. Jackson
Paul L. Joskow
Elizabeth T. Kennan
Lawrence J. Lasser
John H. Mullin, III
Robert E. Patterson
Donald S. Perkins
George Putnam, III
A.J.C. Smith
W. Thomas Stephens
W. Nicholas Thorndike
Address of Principal Office: One Post Office Square
Boston, Massachusetts 02109
U.S.A.
Name and Title of Registration Agent: Harume Nakano
Attorney-at-Law
Signature [Harume Nakano]
(Seal)
Ken Miura
Attorney-at-Law
Signature [Ken Miura]
(Seal)
Address or Place of Business Kasumigaseki Building, 25th Floor
2-5, Kasumigaseki 3-chome
Chiyoda-ku, Tokyo
Name of Liaison Contact: Harume Nakano
Ken Miura
Attorneys-at-Law
Place of Liaison Contact: Hamada & Matsumoto
Kasumigaseki Building, 25th Floor
2-5, Kasumigaseki 3-chome
Chiyoda-ku, Tokyo
Phone Number: 03-3580-3377
- ii -
Places where a copy of this Semi-annual Report
is available for Public Inspection
Not applicable.
(Total number of pages of this Semi-annual Report in Japanese
is
including front and back pages.)
C O N T E N T S
This
English Japanese
translation Original
I. STATUS OF INVESTMENT FUND
(1) Diversification of Investment Portfolio 1 1
(2) Results of Past Operations 2 3
(a) Record of Changes in Net Assets 2 3
(b) Record of Distributions Paid 2 3
(3) Record of Sales and Repurchases 3 4
II. OUTLINE OF THE TRUST
1. Trust 4 5
(1) Amount of Capital Stock 4 5
(2) Information Concerning Major Shareholders 4 5
(3) Information Concerning Directors, Officers and
Employees 4 5
(4) Description of Business and Outline of Operation 7 8
(5) Miscellaneous 7 8
2. Putnam Investment Management, Inc.
(Investment Management Company) 8 8
(1) Amount of Capital Stock 8 8
(2) Information Concerning Major Shareholders 8 9
(3) Information Concerning Officers and Employees 9 9
(4) Summary of Business Lines and Business Operation 20 18
(5) Miscellaneous 33 31
III. OUTLINE OF THE FINANCIAL STATUS OF THE FUND 33 32
IV. OUTLINE OF THE FINANCIAL STATUS OF THE
INVESTMENT MANAGEMENT COMPNAY 33 76
I. STATUS OF INVESTMENT FUND
(1) Diversification of Investment Portfolio
(As of the end of May, 1999)
Types of Assets Name of Total Investment
Country U.S. Ratio(%)
Dollars
Corporate Bonds United 1,833,077,064 40.23
States
Canada 76,175,425 1.67
Mexico 42,095,468 0.92
United 39,977,319 0.88
Kingdom
Bermuda 20,024,870 0.44
Netherla 17,796,259 0.39
nds
Luxembou 17,433,000 0.38
rg
China 16,682,725 0.37
Indonesi 14,203,795 0.31
a
Columbia 10,717,800 0.24
Cayman 7,241,700 0.16
Islands
Norway 6,969,605 0.15
Brazil 6,468,050 0.14
Argentin 3,041,300 0.07
Israel 2,639,250 0.06
Porland 2,022,900 0.04
Greece 1,686,250 0.04
Japan 1,487,200 0.03
Australi 667,355 0.01
Sub-total 2,120,407,335 46.53
U.S. Government United 661,975,716 14.53
Obligations States
Foreign United 255,738,445 5.61
Government Bonds Kingdom
Germany 61,517,612 1.35
France 48,464,271 1.06
Argentin 46,350,000 1.02
a
Bulgaria 39,815,994 0.87
Canada 34,108,873 0.75
Sweden 27,787,356 0.61
Netherla 16,970,803 0.37
nds
Brazil 16,144,425 0.35
Spain 13,440,715 0.29
Italy 12,401,872 0.27
Columbia 9,798,650 0.22
Denmark 2,878,437 0.06
Russia 226,672 0.00
Sub-total 585,644,125 12.85
Collateralized United 430,271,090 9.44
Mortgage States
Obligations
Brady Bonds Brazil 135,033,546 2.96
Mexico 134,279,902 2.95
Venezuel 17,704,750 0.39
a
Bulgaria 6,475,000 0.14
France 2,065,111 0.05
Sub-total 295,558,309 6.49
Preferred Stock United 143,434,358 3.15
States
Canada 17,959,650 0.39
Germany 9,891,000 0.22
Sub-total 171,285,008 3.76
Short-term United 112,713,972 2.47
States
Asset-Backed United 74,191,910 1.63
Securities States
Units United 19,920,102 0.44
States
Australi 29,600 0.00
a
Sub-total 19,949,702 0.44
Convertible Bonds United 22,730,380 0.50
States
Common Stock United 18,986,207 0.42
States
Columbia 3,622,728 0.08
Brazil 9 0.00
Sub-total 22,608,944 0.50
Warrants United 30,287,706 0.66
States
Columbia 744,000 0.02
Netherla 330,600 0.01
nds
Ireland 227,200 0.00
Equador 5,150 0.00
Mexico 7,260 0.00
Sub-total 31,601,916 0.69
Convertible United 14,464,122 0.32
Preferred Stocks States
Cash, Deposit and - -0.14
Other Assets 6,345,678
(After deduction
of liabilities)
Total 4,557,056,851 100
(Net Asset (\553,455
Value) million)
Note 1: Investment ratio is calculated by dividing each
asset at its market value by the total Net Asset
Value of the Fund. The same applies hereinafter.
Note 2: Dollar amount is translated for convenience at
the rate of $1.00=yen121.45 (the mean of the exchange
rate quotations by The Bank of Tokyo-Mitsubishi,
Ltd. for buying and selling spot dollars by
telegraphic transfer against yen on 31st May, 1999).
The same applies hereinafter.
Note 3: In this document, money amounts and percentages
have been rounded. Therefore, there are cases in
which the amount of the "total column" is not equal
to the aggregate amount. Also, translation into yen
is made simply by multiplying the corresponding
amount by the conversion rate specified and rounded
up when necessary. As a result, in this document,
there are cases in which Japanese yen figures for
the same information differ from each other.
(B) Results of Past Operations
(1) Record of Changes in Net Assets (Class M Shares)
Record of changes in net assets at the end of June 1998 to May
1999 is as follows:
Total Net Asset Value Net Aset Value per Share
Dollar Yen Dollar Yen
(thousands) (millions)
1998 End of June 1,193,745 144,980 12.50 (12.57) 1,518 (1,527)
July 1,189,059 144,411 12.46 (12.53) 1,513 (1,522)
August 987,020 119,874 11.56 (11.63) 1,404 (1,412)
September 1,019,477 123,815 11.62 (11.69) 1,411 (1,420)
October 1,032,488 125,396 11.29 (11.36) 1,371 (1,380)
November 1,052,499 127,826 11.58 (11.65) 1,406 (1,415)
December 981,995 119,263 11.46 (11.53) 1,392 (1,400)
1999 End of January 1,039,980 126,306 11.47 (11.54) 1.393 (1,402)
February 958,538 116,414 11.24 (11.31) 1,365 (1,374)
March 950,399 115,426 11.33 (11.41) 1,376 (1,386)
April 976,710 118,621 11.47 (11.55) 1,393 (1,403)
May 951,842 115,601 11.15 (11.23) 1,354 (1,364)
(Note 1)Operations of Class M Shares were commenced on December 1, 1994.
(Note 2)Ex-dividend date is the 10th of each month. The amount of NAV per
share with dividend is set forth in the parentheses.
(2) Record of Distributions Paid
Record of distribution paid from June 1997 to May 1999 are
as follows:
NAV on the
Dividend ex-dividend date
Month/Year Dollar Yen Dollar
1997 End of June 0.071 8.62 12.27
July 0.070 8.50 12.42
August 0.069 8.38 12.36
September 0.069 8.38 12.40
October 0.069 8.38 12.68
November 0.069 8.38 12.47
December 0.069 8.38 12.49
1998 End of January 0.069 8.38 12.54
February 0.069 8.38 12.60
March 0.069 8.38 12.54
April 0.069 8.38 12.65
May 0.070 8.50 12.56
June 0.069 8.38 12.52
July 0.069 8.38 12.45
August 0.070 8.50 12.24
September 0.069 8.38 11.45
October 0.070 8.50 11.22
November 0.070 8.50 11.31
December 0.070 8.50 11.52
1999 End of January 0.070 8.50 11.38
February 0.072 8.74 11.36
March 0.076 9.23 11.19
April 0.079 9.59 11.45
May 0.079 9.59 11.35
(3) Record of Sales and Repurchases
Record of sales and repurchases during the following
period and number of outstanding Class M shares of the Fund as
of the end of May 1999 are as follows:
Number of Number of Number of
Shares Sold Shares Outstanding
Repurchased Shares
From: June 1, 71,292,226 78,164,067 85,511,090
1998 (69,064,210) (75,408,290) (79,345,910)
To: May 31, 1999
Note: The number of Shares sold, repurchased and
outstanding in the parentheses represents those sold,
repurchased and outstanding in Japan.
II. OUTLINE OF THE TRUST
1. Trust
(1) Amount of Capital Stock (as of the end of May, 1999)
Not applicable.
(2) Information Concerning Major Shareholders
Not applicable.
(3) Information Concerning Directors, Officers and
Employees
(1) Trustees and Officers of the Trust (as of the end of May, 1999)
Shares
Name Office and Resume Owned
Title
George Putnam Chairman and present: Chairman and
President Director of 6,074.119
Putnam Management
and Putnam Mutual
Funds Corp.
Director, Marsh &
McLennan
Companies, Inc.
John A. Hill Trustee present: Chairman and
Managing 1,145.356
Director, First
Reserve
Corporation
William F. Vice present: Professor of
Pounds Chairman Management, 1,036.561
Alfred P. Sloan
School of
Management,
Massachusetts
Institute of
Technology
Jameson Adkins Trustee present: President,
Baxter Baxter 421.468
Associates, Inc.
Hans H. Estin Trustee present: Vice Chairman,
North American 248.480
Management Corp.
Ronald J. Trustee present: Former
Jackson Chairman, 511.089
President and
Chief Executive
Officer of Fisher-
Price, Inc.,
Trustee of Salem
Hospital and the
Peabody Essex
Museum
Paul L. Joskow Trustee present: Professor of
Economics and 262.842
Management and
former Head of
the Department of
Economics at the
Massachusetts
Institute of
Technology
Director, New
England Electric
System, State
Farm Indemnity
Company and
Whitehead
Institute for
Biomedical
Research
Elizabeth T. Trustee present: President
Kennan Emeritus and 322.521
Professor, Mount
Holyoke College
Lawrence J. Trustee and present: President,
Lasser Vice Chief Executive 151.353
President Officer and
Director of
Putnam
Investments, Inc.
and Putnam
Management
Director, Marsh &
McLennan
Companies, Inc.
John H. Trustee present: Chairman and
Mullin, III Chief Executive 445.160
Offficer of
Ridgeway Farm,
Director of ACX
Technologies,
Inc., Alex. Brown
Realty, Inc. and
The Liberty
Corporation
Robert E. Trustee present: President and
Patterson Trustee of Cabot 593.857
Industrial Trust
and Trustee of
SEA Education
Association
Donald S. Trustee present: Director of 38,758
Perkins various .335
corporations,
including Cummins
Engine Company,
Lucent
Technologies,
Inc., Nanophase
Technologies,
Inc. and Springs
Industries, Inc.
George Putnam, Trustee present: President, New
III Generation 1,613.472
Research, Inc.
A.J.C. Smith Trustee present: Chairman and
Chief Executive 243.357
Officer, Marsh &
McLennan
Companies, Inc.
W. Thomas Trustee present: President and
Stephens Chief Executive 116.207
Officer of
MacMillian
Bloedel, Ltd.
Director of Qwest
Communications
and New Century
Energies
W. Nicholas Trustee present: Director of
Thorndike various 162.425
corporations and
charitable
organizations,
including Data
General
Corporation,
Bradley Real
Estate, Inc. and
Providence
Journal Co.
Trustee of Cabot
Industrial Trust,
Massachusetts
General Hospital
and Eastern
Utilities
Associations
Charles E. Executive present: Managing 0
Porter Vice Director of
President Putnam
Investments, Inc.
and Putnam
Management
Patricia C. Senior Vice present: Senior Vice 0
Flaherty President President of
Putnam
Investments, Inc.
and Putnam
Management
Gordon H. Vice present: Director and 0
Silver President Senior Managing
Director of
Putnam
Investments, Inc.
and Putnam
Management
John D. Hughes Vice present Senior Vice 0
President President of
and Putnam Management
Treasurer
Beverly Marcus Clerk and N/A 0
Assistant
Treasurer
Ian C. Vice present Senior 0
Ferguson President Managing Director
of Putnam
Management
John R. Verani Vice present Senior Vice 0
President President of
Putnam
Investments, Inc.
and Putnam
Management
David L. Vice present: Managing 0
Waldman President Director of
Putnam Management
Edward H. Vice present: Managing 0
D'Aleilo President Director of
Putnam Management
Jennifer E. Vice present Managing 0
Leichter President Director of
Putnam Management
Jeffrey A. Vice present: SeniorVice 0
Kaufman President President of
Putnam Management
D. William Vice present: Managing 0
Kohli President Director of
Putnam
Investments, Inc.
and Putnam
Management
Paul G. Assistant present: N/A 0
Bucuvalas Treasurer
Mary A. Eaton Associate present: N/A 0
Treasurer
and
Assistant
Clerk
Judith Cohen Associate present: N/A 0
Treasurer
and
Assistant
Clerk
Katharine Senior present: N/A 0
Howard Associate
Treasurer
Wanda M. Assistant present: N/A 0
McManus Clerk
Joanne M. Assistant present: N/A 0
Neary Clerk
Brett C. Vice present: Managing 0
Browchuk President Director of
Putnam
Investments, Inc.
and Putnam
Management
Richard A. Vice present: Managing 0
Monaghan President Director of
Putnam
Investments, Inc.
and Putnam
Management
(2) Employees of the Trust
The Trust does not have any employees.
(4) Description of Business and Outline of Operation
The Trust may carry out any administrative and
managerial act, including the purchase, sale,
subscription and exchange of any securities, and the
exercise of all rights directly or indirectly pertaining
to the Fund's assets. The Trust has retained Putnam
Investment Management, Inc., the investment adviser, to
render investment advisory services and Putnam Fiduciary
Trust Company, to hold the assets of the Fund in custody
and act as Investor Servicing Agent.
(5) Miscellaneous
(1) Changes of Trustees and Officers
Trustees may be removed or replaced by, among
other things, a resolution adopted by a vote of two-
thirds of the outstanding shares at a meeting called
for the purpose. In the event of vacancy, the
remaining Trustees may fill such vacancy by
appointing for the remaining term of the predecessor
Trustee such other person as they in their
discretion shall see fit. The Trustees may add to
their number as they consider appropriate. The
Trustees may elect and remove officers as they
consider appropriate.
(2) Amendment to the Agreement and Declaration of Trust
Generally, approval of shareholders is required
to amend the Agreement and Declaration of Trust,
except for certain matters such as change of name,
curing any ambiguity or curing any defective or
inconsistent provision.
(3) Litigation and Other Significant Events
Nothing which has or which would have a material
adverse effect on the Trust has occurred which has
not been disclosed. The fiscal year end of the
Trust is September 30. The Trust is established for
an indefinite period and may be dissolved at any
time by vote of the shareholders holding at least
two-thirds of the shares entitled to vote or by the
Trustees by written notice to shareholders.
2. Putnam Investment Management, Inc. (Investment Management
Company)
(1) Amount of Capital Stock (as of the end of May, 1999)
1. Amount of Capital (issued capital stock at par
value):
Common Stock 1,000 shares at $1 par value
2. Number of authorized shares of capital stock:
Common Stock 1,000 shares
3. Number of outstanding shares of capital stock:
Common Stock 1,000 shares
4. Amount of capital (for the purposes of this Item,
"Amount of Capital" means total stockholders' equity
for the past five years:
Amount of Capital
Year (Total Stockholders' Equity)
End of 1994 $48,149,491
End of 1995 $45,521,351
End of 1996 $45,817,658
End of 1997 $48,617,160
End of 1998 $425,782,008
(2) Information Concerning Major Stockholders
As of the end of May, 1999, all the outstanding shares of
capital stock of Investment Management Company were owned
by Putnam Investments, Inc. See subsection D above.
(3) Information Concerning Officers and Employees
The following table lists the names of various officers
and directors of Investment Management Company and their
respective positions with Investment Management Company.
For each named individual, the table lists: (i) any other
organizations (excluding other Investment Management
Company's funds) with which the officer and/or director
has recently had or has substantial involvement; and (ii)
positions held with such organization:
List of Officers and Directors of Putnam Investment
Management, Inc.
(as of May 31, 1999)
Position
with Putnam
Name Investment Other Business Affiliation
Management,
Inc.
1 Putnam, George Chairman Director of Putnam Mutual
Funds Corp.
2 Lasser, Lawrence President
J. and
Director,
CEO
3 Silver, Gordon Director Director of Putnam
H. and Senior Fiduciary Trust Company and
Managing Senior Managing Director of
Director Putnam Mutual Funds Corp.
4 Burke, Robert W. Senior Senior Managing Director of
Managing Putnam Mutual Funds Corp.
Director
5 Collman, Senior Senior Managing Director of
Kathleen M. Managing Putnam Mutual Funds Corp.
Director
6 Ferguson, Ian C. Senior
Managing
Director
7 Regan, Anthony Senior
W. Managing
Director
8 Spiegel, Steven Senior Senior Managing Director of
Managing Putnam Mutual Funds Corp.
Director
9 Anderson, Blake Managing
E. Director
10 Antill, Jennifer Managing
Director
11 Beck, Robert R. Managing
Director
12 Browchuk, Brett Managing
Director
13 Cassaro, Joseph Managing
A. Director
14 Cotner, C. Beth Managing
Director
15 Cronin, Kevin M. Managing Managing Director of Putnam
Director Fiduciary Trust Company
16 D'Alelio, Edward Managing
H. Director
17 Daly, Kenneth L. Managing Managing Director of Putnam
Director Mutual Funds Corp.
18 DeTore, John A. Managing Managing Director of Putnam
Director Fiduciary Trust Company
19 Durgarian, Managing Director and Managing
Karnig H. Director Director of Putnam
and Chief Fiduciary Trust Company
Financial
Officer
20 Esteves, Irene Managing Treasurer of Putnam
M. Director Fiduciary Trust Company
and Chief
Financial
Officer
21 Farrell, Deborah Managing Managing Director of Putnam
S. Director Mutual Funds Corp.
22 Gillis, Roland Managing
Director
23 Haslett, Thomas Managing
R. Director
24 Holding, Pamela Managing
Director
25 Hurley, William Managing Managing Director and CFO
J. Director of Putnam Mutual Funds
Corp.
26 Jacobs, Jerome Managing
J. Director
27 Joseph, Joseph Managing
P. Director
28 Kamshad, Omid Managing
Director
29 King, David L. Managing Managing Director of Putnam
Director Mutual Funds Corp.
30 Kohli, D. Managing
William Director
31 Kreisel, Anthony Managing
I. Director
32 Kuenstner, Managing
Deborah F. Director
33 Landes, William Managing
J. Director
34 Leichter, Managing
Jennifer E. Director
35 Maloney, Kevin Managing
J. Director
36 Martino, Michael Managing Managing Director of Putnam
Director Fiduciary Trust Company
37 Maxwell, Scott Managing
M. Director
38 McGue, William Managing
F. Director
39 McMullen, Carol Managing
C. Director
40 Mcmani, Krisha Managing
Director
41 Miller, Daniel Managing
L. Director
42 Morgan Jr., John Managing Managing Director of Putnam
J. Director Fiduciary Trust Company
43 Morgan, Kelly A. Managing
Director
44 Oristaglio, Managing
Stephen Director
45 Peacher, Stephen Managing
C. Director
46 Pollard, Mark D. Managing
Director
47 Porter, Charles Managing
E. Director
48 Reilly, Thomas Managing
V. Director
49 Schultz, Managing Managing Director of Putnam
Mitchell D. Director Mutual Funds Corp.
50 Scott, Justin M. Managing Managing Director of Putnam
Director Fiduciary Trust Company
51 Shadek Jr., Managing Managing Director of Putnam
Edward T. Director Fiduciary Trust Company
52 Starr, Loren Managing Managing Director of Putnam
Director Mutual Funds Corp.
53 Swift, Robert Managing
Director
54 Talanian, John Managing Managing Director of Putnam
C. Director Mutual Funds Corp.
55 Tibbetts, Managing Managing Director of Putnam
Richard B. Director Mutual Funds Corp.
56 Waldman, David Managing
L. Director
57 Wetlaufer, Eric Managing
Director
58 Woolverton, Managing Managing Director of Putnam
William H. Director Mutual Funds Corp.
59 Zieff, William Managing
E. Director
60 Arends, Michael Senior Vice Senior Vice President of
K. President Putnam Mutual Funds Corp.
61 Asher, Steven E. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
and Senior Vice President
of Putnam Fiduciary Trust
Company
62 Atkin, Michael Senior Vice
J. President
63 Attridge, Gail Senior Vice Senior Vice President of
S. President Putnam Fiduciary Trust
Company
64 Augustine, Senior Vice
Jeffrey B. President
65 Bakshi, Manjit Senior Vice
S. President
66 Bamford, Dolores Senior Vice
Snyder President
67 Baumbach, Robert Senior Vice
K. President
68 Berka, Sharon A. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
69 Block, Richard Senior Vice
L. President
70 Boselli, John A. Senior Vice
President
71 Bousa, Edward P. Senior Vice
President
72 Bresnahan, Senior Vice Senior Vice President of
Leslee R. President Putnam Mutual Funds Corp.
73 Burke, Andrea Senior Vice
President
74 Burns, Cheryl A. Senior Vice
President
75 Byrne, Joshua L. Senior Vice
President
76 Callahan, Ellen Senior Vice
S. President
77 Carlson, David Senior Vice
G. President
78 Chrostowski, Senior Vice Senior Vice President of
Louis F. President Putnam Mutual Funds Corp.
79 Curran, Peter J. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
80 Dalferro, John Senior Vice
R. President
81 Derbyshire, Senior Vice
Ralph C. President
82 England, Richard Senior Vice
B. President
83 Finch, Edward R. Senior Vice
President
84 Flaherty, Senior Vice Senior Vice President of
Patricia C. President Putnam Mutual Funds Corp.
85 Fontana, Forrest Senior Vice
N. President
86 Francis, Senior Vice
Jonathan H. President
87 Frost, Karen T. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
88 Frucci, Richard Senior Vice Senior Vice President of
M. President Putnam Fiduciary Trust
Company
89 Fullerton, Brian Senior Vice Senior Vice President of
J. President Putnam Mutual Funds Corp.
90 Grant, Peter J. Senior Vice Senior Vice President of
President Putnam Fiduciary Trust
Company
91 Graviere, Senior Vice
Patrice President
92 Grim, Daniel J. Senior Vice
President
93 Haagensen, Paul Senior Vice
E. President
94 Hadden, Peter J. Senior Vice
President
95 Halperin, Senior Vice
Matthew C. President
96 Healey, Deborah Senior Vice
R. President
97 Hotchkiss, Senior Vice
Michael F. President
98 Kaufman, Jeffrey Senior Vice
President
99 Kay, Karen R. Senior Vice Clerk, Director and Senior
President Vice President of Putnam
Fiduciary Trust Company and
Senior Vice President of
Putnam Mutual Funds Corp.
100 Kirson, Steven Senior Vice
L. President
101 Knight, Jeffrey Senior Vice
L. President
102 Kobylarz, Senior Vice
Jeffrey President
103 Koontz, Jill A. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
104 Korn, Karen R. Senior Vice
President
105 Lannum III, Senior Vice
Coleman N. President
106 Lindsey, Jeffrey Senior Vice
R. President
107 Lomba, Rufino R. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
108 MacElwee, Jones, Senior Vice
Elizabeth M. President
109 Madore, Robert Senior Vice Senior Vice President of
A. President Putnam Fiduciary Trust
Company
110 Malloy, Julie M. Senior Vice
President
111 Marrkand, Paul Senior Vice
E. President
112 Matteis, Andrew Senior Vice
S. President
113 McDonald, Senior Vice
Richard E. President
114 Meehan, Thalia Senior Vice
President
115 Mehta, Sandeep Senior Vice
President
116 Miller, William Senior Vice
H. President
117 Mockard, Jeanne Senior Vice
L. President
118 Mufson, Michael Senior Vice
J. President
119 Mullen, Donald Senior Vice Senior Vice President of
E. President Putnam Mutual Funds Corp.
120 Mullin, Hugh H. Senior Vice
President
121 Netols, Jeffrey Senior Vice Senior Vice President of
W. President Putnam Fiduciary Trust
Company
122 Oler, Stephen S. Senior Vice
President
123 Paine, Robert M. Senior Vice
President
124 Parker, Margery Senior Vice
C. President
125 Perry, William Senior Vice
President
126 Peters, Carmel Senior Vice
President
127 Petralia, Senior Vice Senior Vice President of
Randolph S. President Putnam Mutual Funds Corp.
128 Plapinger, Keith Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
129 Pohl, Charles G. Senior Vice
President
130 Prusko, James M. Senior Vice Senior Vice President of
President Putnam Fiduciary Trust
Company
131 Quistberg, Paul Senior Vice
T. President
132 Ray, Christopher Senior Vice
A. President
133 Reeves, William Senior Vice
H. President
134 Rogers, Kevin J. Senior Vice
President
135 Ruys de Perez, Senior Vice Senior Vice President of
Charles A. President Putnam Fiduciary Trust
Company and Senior Vice
President of Putnam Mutual
Funds Corp.
136 Santos, David J. Senior Vice Senior Vice President of
President Putnam Fiduciary Trust
Company
137 Santosus, Senior Vice
Anthony C. President
138 Schwister, Jay Senior Vice Senior Vice President of
E. President Putnam Fiduciary Trust
Company
139 Scordato, Senior Vice Senior Vice President of
Christine A. President Putnam Mutual Funds Corp.
140 Sievert, Jean I. Senior Vice
President
141 Simon, Sheldon Senior Vice
N. President
142 Simozar, Saied Senior Vice
President
143 Smith Jr., Leo Senior Vice
J. President
144 Smith, Margaret Senior Vice
D. President
145 Spatz, Erin J. Senior Vice
President
146 Stack, Michael Senior Vice Senior Vice President of
P. President Putnam Mutual Funds Corp.
147 Stairs, George Senior Vice
W. President
148 Strumpf, Casey Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
149 Sugimoto, Senior Vice Senior Vice President of
Toshifumi President Putnam Mutual Funds Corp.
150 Sullivan, Roger Senior Vice
R. President
151 Svensson, Lisa Senior Vice
H. President
152 Swanberg, Senior Vice
Charles H. President
153 Thomsen, Senior Vice Senior Vice President of
Rosemary H. President Putnam Fiduciary Trust
Company
154 Troped, Bonnie Senior Vice Senior Vice President of
L. President Putnam Mutual Funds Corp.
155 Verani, John R. Senior Vice Senior Vice President of
President Putnam Mutual Funds Corp.
156 Walsh, Francis Senior Vice
P. President
157 Warren, Paul C. Senior Vice
President
158 Weinstein, Senior Vice
Michael R. President
159 Weiss, Manuel Senior Vice
President
160 Whalen, Edward Senior Vice Senior Vice President of
F. President Putnam Mutual Funds Corp.
161 Wheeler, Diane Senior Vice
D.F. President
162 Wyke, Richard P. Senior Vice
President
163 Yogg, Michael R. Senior Vice
President
164 Zukowski, Gerald Senior Vice
S. President
(4) Summary of Business Lines and Business Operation
Investment Management Company is engaged in the business
of providing investment management and investment
advisory services to mutual funds. As of the end of May,
1999, Investment Management Company managed, advised,
and/or administered the following 113 funds and fund
portfolios (having an aggregate net asset value of
approximately $238 billion):
(As of May 31, 1999)
Name Month/Da Principal Total Net
te/Year Characteris Net Asset
Establis tics Asset Value
hed Value per
($ share
million ($)
)
1 The George Putnam Fund of 11/5/37 Open/Equity 4,017.0 18.71
Boston; A 2
2 The George Putnam Fund of 4/24/92 Open/Equity 1,628.2 18.57
Boston; B 7
3 The George Putnam Fund of 12/1/94 Open/Equity 301.08 18.57
Boston; M
4 The George Putnam Fund of 1/1/94 Open/Equity 633.31 18.74
Boston; Y
5 Putnam American Government 3/1/85 Open/Bond 1,363.4 8.60
Income Fund; A 1
6 Putnam American Government 5/20/94 Open/Bond 123.71 8.56
Income Fund; B
7 Putnam American Government 2/14/95 Open/Bond 4.25 8.62
Income Fund; M
8 Putnam Asia Pacific Growth 2/20/91 Open/Equity 150.42 10.34
Fund; A
9 Putnam Asia Pacific Growth 6/1/93 Open/Equity 137.85 10.14
Fund; B
10 Putnam Asia Pacific Growth 2/1/95 Open/Equity 10.26 10.25
Fund; M
11 Putnam Asia Pacific Fund 3/23/98 Open/Equity 2.62 9.25
II
12 Putnam Asset Allocation: 2/7/94 Open/Balanc 961.05 12.17
Balanced Portfolio; A ed
13 Putnam Asset Allocation: 2/11/94 Open/Balanc 557.04 12.10
Balanced Portfolio; B ed
14 Putnam Asset Allocation: 9/1/94 Open/Balanc 117.16 12.03
Balanced Portfolio; C ed
15 Putnam Asset Allocation: 2/6/95 Open/Balanc 67.73 12.15
Balanced Portfolio; M ed
16 Putnam Asset Allocation: 7/14/94 Open/Balanc 321.48 12.19
Balanced Portfolio; Y ed
17 Putnam Asset Allocation : 2/7/94 Open/Balanc 418.57 10.52
Conservative Portfolio; A ed
18 Putnam Asset Allocation : 2/18/94 Open/Balanc 186.38 10.47
Conservative Portfolio; B ed
19 Putnam Asset Allocation : 9/1/94 Open/Balanc 59.13 10.44
Conservative Portfolio; C ed
20 Putnam Asset Allocation : 2/7/95 Open/Balanc 23.56 10.47
Conservative Portfolio; M ed
21 Putnam Asset Allocation : 7/14/94 Open/Balanc 72.28 10.53
Conservative Portfolio; Y ed
22 Putnam Asset Allocation: 2/8/94 Open/Balanc 750.71 14.02
Growth Portfolio; A ed
23 Putnam Asset Allocation: 2/16/94 Open/Balanc 468.56 13.83
Growth Portfolio; B ed
24 Putnam Asset Allocation: 9/1/94 Open/Balanc 103.03 13.72
Growth Portfolio; C ed
25 Putnam Asset Allocation: 2/1/95 Open/Balanc 63.00 13.86
Growth Portfolio; M ed
26 Putnam Asset Allocation: 7/14/94 Open/Balanc 296.57 14.11
Growth Portfolio; Y ed
27 Putnam Arizona Tax Exempt 1/30/91 Open/Bond 108.28 9.22
Income Fund; A
28 Putnam Arizona Tax Exempt 7/15/93 Open/Bond 33.47 9.21
Income Fund; B
29 Putnam Arizona Tax Exempt 7/3/95 Open/Bond 0.57 9.23
Income Fund; M
30 Putnam Balanced Fund 10/2/95 Open/Balanc 3.80 12.14
ed
31 Putnam Balanced Retirement 4/19/85 Open/Balanc 693.09 11.07
Fund; A ed
32 Putnam Balanced Retirement 2/1/94 Open/Balanc 194.64 10.98
Fund; B ed
33 Putnam Balanced Retirement 3/17/95 Open/Balanc 15.28 11.01
Fund; M ed
34 Putnam Balanced Retirement 1/4/99 Open/Balanc 1.80 11.07
Fund; Y ed
35 Putnam California 11/27/92 Closed/Bond 70.32 15.26
Investment Grade Municipal
Trust
36 Putnam California Tax 4/29/83 Open/Bond 2,940.8 8.61
Exempt Income Fund; A 7
37 Putnam California Tax 1/4/93 Open/Bond 657.71 8.60
Exempt Income Fund; B
38 Putnam California Tax 2/14/95 Open/Bond 16.05 8.60
Exempt Income Fund; M
39 Putnam California Tax 10/26/87 Open/Bond 44.34 1.00
Exempt Money Market Fund
40 Putnam Capital 8/5/93 Open/Equity 65.85 8.11
Opportunities Fund; A
41 Putnam Capital 11/2/94 Open/Equity 87.30 8.08
Opportunities Fund; B
42 Putnam Capital 1/22/96 Open/Equity 4.70 8.09
Opportunities Fund; M
43 Putnam Capital 8/5/93 Open/Equity 1,248.4 21.94
Appreciation Fund; A 4
44 Putnam Capital 11/2/94 Open/Equity 1,362.5 21.66
Appreciation Fund; B 7
45 Putnam Capital 1/22/96 Open/Equity 90.39 21.70
Appreciation Fund; M
46 Putnam Convertible 6/29/95 Closed/Bond 87.56 23.58
Opportunity and Income
Trust
47 Putnam Convertible Income- 6/29/72 Open/Balanc 1,049.2 20.53
Growth Trust; A ed 0
48 Putnam Convertible Income- 7/15/93 Open/Balanc 302.30 20.28
Growth Trust; B ed
49 Putnam Convertible Income- 3/13/95 Open/Balanc 16.90 20.39
Growth Trust; M ed
50 Putnam Convertible Income- 12/30/98 Open/Balanc 35.77 20.54
Growth Trust; Y ed
51 Putnam Diversified Equity 7/1/94 Open/Equity 329.41 14.37
Trust; A
52 Putnam Diversified Equity 7/2/94 Open/Equity 404.57 14.11
Trust; B
53 Putnam Diversified Equity 2/1/99 Open/Equity 2.95 14.35
Trust; C
54 Putnam Diversified Equity 7/3/95 Open/Equity 33.20 14.20
Trust; M
55 Putnam Dividend Income 9/28/89 Closed/Bond 122.29 11.30
Fund
56 Putnam Diversified Income 10/3/88 Open/Bond 1,672.9 11.19
Trust; A 5
57 Putnam Diversified Income 3/1/93 Open/Bond 1,910.7 11.14
Trust; B 8
58 Putnam Diversified Income 2/1/99 Open/Bond 4.02 11.17
Trust; C
59 Putnam Diversified Income 12/1/94 Open/Bond 951.84 11.15
Trust; M
60 Putnam Diversified Income 7/11/96 Open/Bond 17.47 11.20
Trust ; Y
61 Putnam Emerging Markets 10/2/95 Open/Equity 50.03 8.62
Fund; A
62 Putnam Emerging Markets 10/2/95 Open/Equity 37.72 8.55
Fund; B
63 Putnam Emerging Markets 10/2/95 Open/Equity 4.47 8.57
Fund; M
64 Putnam Equity Fund 98 12/30/97 Open/Equity 8.06 13.01
65 Putnam Equity Income Fund; 6/15/77 Open/Balanc 1,256.0 16.92
A ed 1
66 Putnam Equity Income Fund; 9/13/93 Open/Balanc 700.23 16.80
B ed
67 Putnam Equity Income Fund; 2/1/99 Open/Balanc 7.17 16.89
C ed
68 Putnam Equity Income Fund; 12/2/94 Open/Balanc 65.87 16.82
M ed
69 Putnam Europe Growth Fund; 9/7/90 Open/Equity 872.70 21.28
A
70 Putnam Europe Growth Fund; 2/1/94 Open/Equity 777.35 20.72
B
71 Putnam Europe Growth Fund; 12/1/94 Open/Equity 104.60 21.05
M
72 Putnam Florida Tax Exempt 8/24/90 Open/Bond 233.38 9.30
Income Fund; A
73 Putnam Florida Tax Exempt 1/4/93 Open/Bond 81.86 9.29
Income Fund; B
74 Putnam Florida Tax Exempt 5/1/95 Open/Bond 1.31 9.29
Income Fund; M
75 Putnam Global Natural 7/24/80 Open/Equity 191.91 19.01
Resources Fund; A
76 Putnam Global Natural 2/1/94 Open/Equity 142.95 18.69
Resources Fund; B
77 Putnam Global Natural 7/3/95 Open/Equity 7.11 18.88
Resources Fund; M
78 Putnam Global Equity Fund 5/6/98 Open/Equity 4.04 13.61
79 Putnam Global Growth and 1/3/95 Open/Equity 32.27 13.88
Income Fund; A
80 Putnam Global Growth and 1/3/95 Open/Equity 24.25 13.78
Income Fund; B
81 Putnam Global Growth and 1/3/95 Open/Equity 2.52 13.83
Income Fund; M
82 Putnam Global Governmental 6/1/87 Open/Bond 231.21 12.29
Income Trust; A
83 Putnam Global Governmental 2/1/94 Open/Bond 34.13 12.25
Income Trust; B
84 Putnam Global Governmental 3/17/95 Open/Bond 225.57 12.23
Income Trust; M
85 Putnam Global Growth Fund; 9/1/67 Open/Equity 3,380.5 12.36
A 0
86 Putnam Global Growth Fund; 4/27/92 Open/Equity 1,873.3 11.87
B 4
87 Putnam Global Growth Fund; 2/1/99 Open/Equity 7.85 12.34
C
88 Putnam Global Growth Fund; 3/1/95 Open/Equity 62.04 12.25
M
89 Putnam Global Growth Fund; 6/15/94 Open/Equity 131.18 12.56
Y
90 Putnam Growth and Income 1/5/95 Open/Balanc 1,361.3 15.15
Fund II; A ed 5
91 Putnam Growth and Income 1/5/95 Open/Balanc 1,607.9 15.01
Fund II; B ed 2
92 Putnam Growth and Income 2/1/99 Open/Balanc 19.36 15.12
Fund II; C ed
93 Putnam Growth and Income 1/5/95 Open/Balanc 181.66 15.07
Fund II; M ed
94 The Putnam Fund for Growth 11/6/57 Open/Balanc 22,507. 21.99
and Income; A ed 30
95 The Putnam Fund for Growth 4/27/92 Open/Balanc 16,387. 21.68
and Income; B ed 63
96 The Putnam Fund for Growth 5/1/95 Open/Balanc 494.55 21.84
and Income; M ed
97 The Putnam Fund for Growth 6/15/94 Open/Balanc 1,249.1 22.03
and Income; Y ed 3
98 Putnam Growth Fund 5/1/98 Open/Equity 2.51 10.04
99 Putnam Growth 10/2/95 Open/Equity 1,186.6 20.45
Opportunities; A 4
100 Putnam Growth 8/1/97 Open/Equity 1,333.7 20.19
Opportunities; B 9
101 Putnam Growth 2/1/99 Open/Equity 50.17 20.45
Opportunities; C
102 Putnam Growth 8/1/97 Open/Equity 80.56 20.28
Opportunities; M
103 Putnam High Income 7/9/87 Closed/Bond 115.14 8.45
Convertible and Bond Fund
104 Putnam High Yield 3/25/86 Open/Bond 1,108.4 8.21
Advantage Fund; A 3
105 Putnam High Yield 5/16/94 Open/Bond 944.22 8.17
Advantage Fund; B
106 Putnam High Yield 12/1/94 Open/Bond 940.27 8.20
Advantage Fund; M
107 Putnam High Yield 12/30/98 Open/Bond 10.56 8.21
Advantage Fund; Y
108 Putnam High Yield Total 1/1/97 Open/Bond 48.93 7.48
Return Fund; A
109 Putnam High Yield Total 1/1/97 Open/Bond 55.40 7.42
Return Fund; B
110 Putnam High Yield Total 1/1/97 Open/Bond 3.33 7.42
Return Fund; M
111 Putnam High Quality Bond 6/2/86 Open/Bond 315.00 9.73
Fund; A
112 Putnam High Quality Bond 6/6/94 Open/Bond 37.72 9.68
Fund; B
113 Putnam High Quality Bond 4/12/95 Open/Bond 2.99 9.73
Fund; M
114 Putnam High Yield Fund II; 12/31/97 Open/Bond 529.66 7.78
A
115 Putnam High Yield Fund II; 12/31/97 Open/Bond 778.95 7.79
B
116 Putnam High Yield Fund II; 12/31/97 Open/Bond 37.49 7.78
M
117 Putnam High Yield Trust; A 2/14/78 Open/Bond 2,600.6 10.83
3
118 Putnam High Yield Trust; B 3/1/93 Open/Bond 800.00 10.78
119 Putnam High Yield Trust; M 7/3/95 Open/Bond 17.02 10.83
120 Putnam High Yield Trust; Y 12/30/98 Open/Bond 22.52 10.83
121 Putnam Health Sciences 5/28/82 Open/Equity 2,763.5 56.69
Trust; A 7
122 Putnam Health Sciences 3/1/93 Open/Equity 2,035.4 54.36
Trust; B 1
123 Putnam Health Sciences 7/3/95 Open/Equity 87.75 55.76
Trust; M
124 Putnam High Yield 5/25/89 Closed/Bond 199.18 9.02
Municipal Trust
125 Putnam Income Fund; A 11/1/54 Open/Bond 1,328.6 6.64
1
126 Putnam Income Fund; B 3/1/93 Open/Bond 496.36 6.61
127 Putnam Income Fund; M 12/14/94 Open/Bond 1,708.2 6.61
1
128 Putnam Income Fund; Y 2/12/94 Open/Bond 245.89 6.66
129 Putnam Intermediate U.S. 2/16/93 Open/Bond 262.52 4.87
Government Income Fund; A
130 Putnam Intermediate U.S. 2/16/93 Open/Bond 150.07 4.87
Government Income Fund; B
131 Putnam Intermediate U.S. 4/3/95 Open/Bond 11.05 4.88
Government Income Fund; M
132 Putnam Intermediate U.S. 10/1/97 Open/Bond 114.94 4.86
Government Income Fund; Y
133 Putnam International Fund 12/28/95 Open/Equity 4.84 11.21
134 Putnam International 8/1/96 Open/Equity 430.08 11.87
Growth and Income Fund; A
135 Putnam International 8/1/96 Open/Equity 418.07 11.77
Growth and Income Fund; B
136 Putnam International 2/1/99 Open/Equity 5.97 11.85
Growth and Income Fund; C
137 Putnam International 8/1/96 Open/Equity 34.58 11.83
Growth and Income Fund; M
138 Putnam International 2/28/91 Open/Equity 2,596.7 20.31
Growth Fund; A 8
139 Putnam International 6/1/94 Open/Equity 1,670.5 19.91
Growth Fund; B 8
140 Putnam International 12/1/94 Open/Equity 191.58 20.15
Growth Fund; M
141 Putnam International 7/12/96 Open/Equity 224.06 20.39
Growth Fund; Y
142 Putnam International New 1/3/95 Open/Equity 732.14 13.66
Opportunities Fund; A
143 Putnam International New 7/21/95 Open/Equity 883.31 13.33
Opportunities Fund; B
144 Putnam International New 2/1/99 Open/Equity 2.60 13.64
Opportunities Fund; C
145 Putnam International New 7/21/95 Open/Equity 69.98 13.46
Opportunities Fund; M
146 Putnam International 12/28/95 Open/Equity 152.84 14.76
Voyager Fund; A
147 Putnam International 10/30/96 Open/Equity 118.17 14.60
Voyager Fund; B
148 Putnam International 10/30/96 Open/Equity 13.22 14.67
Voyager Fund; M
149 Putnam Investment Grade 10/26/89 Closed/Bond 243.52 11.64
Municipal Trust
150 Putnam Investment Grade 11/27/92 Closed/Bond 183.61 13.75
Municipal Trust II
151 Putnam Investment Grade 11/29/93 Closed/Bond 52.75 13.16
Municipal Trust III
152 Putnam Investors Fund; A 12/1/25 Open/Equity 5,513.5 15.00
7
153 Putnam Investors Fund; B 3/1/93 Open/Equity 2,672.6 14.33
3
154 Putnam Investors Fund; M 12/2/94 Open/Equity 181.31 14.71
155 Putnam Investors Fund; Y 1/7/97 Open/Equity 484.10 15.05
156 Putnam Latin America Fund 3/23/98 Open/Equity 1.95 6.18
157 Putnam Massachusetts Tax 10/23/89 Open/Bond 298.33 9.45
Exempt Income Fund; A
158 Putnam Massachusetts Tax 7/15/93 Open/Bond 122.64 9.44
Exempt Income Fund; B
159 Putnam Massachusetts Tax 5/12/95 Open/Bond 5.45 9.45
Exempt Income Fund; M
160 Putnam Master Income Trust 4/29/88 Closed/Bond 430.73 8.11
161 Putnam Managed High Yield 6/25/93 Closed/Bond 92.32 12.30
Trust
162 Putnam Michigan Tax Exempt 10/23/89 Open/Bond 145.40 9.14
Income Fund; A
163 Putnam Michigan Tax Exempt 7/15/93 Open/Bond 46.75 9.12
Income Fund; B
164 Putnam Michigan Tax Exempt 4/17/95 Open/Bond 1.92 9.13
Income Fund; M
165 Putnam Minnesota Tax 10/23/89 Open/Bond 102.97 9.06
Exempt Income Fund; A
166 Putnam Minnesota Tax 7/15/93 Open/Bond 51.35 9.03
Exempt Income Fund; B
167 Putnam Minnesota Tax 4/3/95 Open/Bond 1.61 9.04
Exempt Income Fund; M
168 Putnam Managed Municipal 2/24/89 Closed/Bond 440.86 9.50
Income Trust
169 Putnam Money Market Fund; 10/1/76 Open/Bond 3,413.5 1.00
A 0
170 Putnam Money Market Fund; 4/27/92 Open/Bond 797.43 1.00
B
171 Putnam Money Market Fund; 2/1/99 Open/Bond 3.71 1.00
C
172 Putnam Money Market Fund; 12/8/94 Open/Bond 116.85 1.00
M
173 Putnam Master Intermediate 4/29/88 Closed/Bond 782.95 7.82
Income Trust
174 Putnam Municipal Income 5/22/89 Open/Bond 818.79 9.15
Fund; A
175 Putnam Municipal Income 1/4/93 Open/Bond 502.35 9.14
Fund; B
176 Putnam Municipal Income 2/1/99 Open/Bond 5.40 9.14
Fund; C
177 Putnam Municipal Income 12/1/94 Open/Bond 15.93 9.14
Fund; M
178 Putnam Municipal 5/28/93 Closed/Bond 224.84 13.92
Opportunities Trust
179 Putnam New Opportunities 8/31/90 Open/Equity 10,915. 60.25
Fund; A 25
180 Putnam New Opportunities 3/1/93 Open/Equity 7,766.1 57.44
Fund; B 4
181 Putnam New Opportunities 12/1/94 Open/Equity 452.24 58.86
Fund; M
182 Putnam New Opportunities 7/19/94 Open/Equity 913.19 61.05
Fund; Y
183 Putnam New Value Fund; A 1/3/96 Open/Equity 428.77 15.06
184 Putnam New Value Fund; B 2/26/96 Open/Equity 453.64 14.90
185 Putnam New Value Fund; M 2/26/96 Open/Equity 41.43 14.98
186 Putnam New Jersey Tax 2/20/90 Open/Bond 209.81 9.15
Exempt Income Fund; A
187 Putnam New Jersey Tax 1/4/93 Open/Bond 99.76 9.14
Exempt Income Fund; B
188 Putnam New Jersey Tax 5/1/95 Open/Bond 1.13 9.15
Exempt Income Fund; M
189 Putnam New York Investment 11/27/92 Closed/Bond 39.49 13.87
Grade Municipal Trust
190 Putnam New York Tax Exempt 9/2/83 Open/Bond 1,538.3 8.77
Income Fund; A 9
191 Putnam New York Tax Exempt 1/4/93 Open/Bond 223.40 8.75
Income Fund; B
192 Putnam New York Tax Exempt 4/10/95 Open/Bond 2.29 8.77
Income Fund; M
193 Putnam New York Tax Exempt 10/26/87 Open/Bond 38.35 1.00
Money Market Fund
194 Putnam New York Tax Exempt 11/7/90 Open/Bond 158.95 9.02
Opportunities Fund; A
195 Putnam New York Tax Exempt 2/1/94 Open/Bond 69.84 9.01
Opportunities Fund; B
196 Putnam New York Tax Exempt 2/10/95 Open/Bond 2.48 9.00
Opportunities Fund; M
197 Putnam Ohio Tax Exempt 10/23/89 Open/Bond 186.22 8.99
Income Fund; A
198 Putnam Ohio Tax Exempt 7/15/93 Open/Bond 58.68 8.98
Income Fund; B
199 Putnam Ohio Tax Exempt 4/3/95 Open/Bond 2.00 8.99
Income Fund; M
200 Putnam OTC & Emerging 11/1/82 Open/Equity 2,561.7 18.16
Growth Fund; A 9
201 Putnam OTC & Emerging 7/15/93 Open/Equity 1,213.1 17.25
Growth Fund; B 2
202 Putnam OTC & Emerging 12/2/94 Open/Equity 275.52 17.70
Growth Fund; M
203 Putnam OTC & Emerging 7/12/96 Open/Equity 102.99 18.32
Growth Fund; Y
204 Putnam Pennsylvania Tax 7/21/89 Open/Bond 179.41 9.12
Exempt Income Fund; A
205 Putnam Pennsylvania Tax 7/15/93 Open/Bond 98.42 9.11
Exempt Income Fund; B
206 Putnam Pennsylvania Tax 7/3/95 Open/Bond 3.36 9.12
Exempt Income Fund; M
207 Putnam Preferred Income 1/4/84 Open/Bond 115.41 8.69
Fund; A
208 Putnam Preferred Income 4/20/95 Open/Bond 11.50 8.66
Fund; M
209 Putnam Premier Income 2/29/95 Closed/Bond 1,096.3 7.79
Trust 6
210 Putnam Research Fund; A 10/2/95 Open/Equity 411.26 16.10
211 Putnam Research Fund; B 6/15/98 Open/Equity 422.54 15.99
212 Putnam Research Fund; C 2/1/99 Open/Equity 20.59 16.08
213 Putnam Research Fund; M 6/15/98 Open/Equity 36.39 16.03
214 Putnam Small Cap Value 9/12/99 Open/Equity 21.50 9.71
Fund; A
215 Putnam Small Cap Value 5/3/99 Open/Equity 5.45 9.70
Fund; B
216 Putnam Strategic Income 2/19/95 Open/Bond 80.95 7.51
Fund; A
217 Putnam Strategic Income 2/19/96 Open/Bond 126.34 7.52
Fund; B
218 Putnam Strategic Income 2/1/99 Open/Bond 3.79 7.53
Fund; C
219 Putnam Strategic Income 2/19/96 Open/Bond 8.99 7.51
Fund; M
220 Putnam Tax Exempt Income 12/31/76 Open/Bond 1,859.7 9.01
Fund; A 2
221 Putnam Tax Exempt Income 1/4/93 Open/Bond 236.04 9.00
Fund; B
222 Putnam Tax Exempt Income 2/16/95 Open/Bond 9.91 9.03
Fund; M
223 Putnam Tax Exempt Money 10/26/87 Open/Bond 78.15 1.00
Market Fund
224 Putnam Tax - Free Health 6/29/92 Closed/Bond 200.12 14.49
Care Fund
225 Putnam Tax - Free Income 9/20/93 Open/Bond 1,133.4 14.39
Trust 2
Tax - Free High Yield
Fund; A
226 Putnam Tax - Free Income 9/9/85 Open/Bond 821.86 14.41
Trust
Tax - Free High Yield Fund
B
227 Putnam Tax - Free Income 2/1/99 Open/Bond 2.84 14.39
Trust
Tax - Free High Yield Fund
C
228 Putnam Tax - Free Income 12/29/94 Open/Bond 24.52 14.39
Trust
Tax - Free High Yield Fund
M
229 Putnam Tax - Free Income 9/30/93 Open/Bond 250.63 15.07
Trust
Tax - Free Insured Fund; A
230 Putnam Tax - Free Income 9/9/85 Open/Bond 345.03 15.09
Trust
Tax - Free Insured Fund; B
231 Putnam Tax - Free Income 6/1/95 Open/Bond 1.91 15.10
Trust
Tax - Free Insured Fund; M
232 Putnam U.S. Core Fund 5/1/98 Open/Equity 3.26 10.72
233 Putnam U.S. Government 2/8/84 Open/Bond 2,015.4 12.79
Income Trust; A 3
234 Putnam U.S. Government 4/27/92 Open/Bond 1,234.2 12.73
Income Trust; B 6
235 Putnam U.S. Government 2/6/95 Open/Bond 144.04 12.77
Income Trust; M
236 Putnam U.S. Government 4/11/94 Open/Bond 29.21 12.79
Income Trust; Y
237 Putnam Utilities Growth 11/19/90 Open/Balanc 928.38 14.15
and Income Fund; A ed
238 Putnam Utilities Growth 4/27/92 Open/Balanc 690.52 14.06
and Income Fund; B ed
239 Putnam Utilities Growth 3/1/95 Open/Balanc 14.23 14.12
and Income Fund; M ed
240 Putnam Value Fund 5/1/98 Open/Balanc 2.32 9.30
ed
241 Putnam Vista Fund; A 6/3/68 Open/Equity 3,624.4 13.73
5
242 Putnam Vista Fund; B 3/1/93 Open/Equity 1,706.5 12.98
3
243 Putnam Vista Fund; M 12/1/94 Open/Equity 142.65 13.37
244 Putnam Vista Fund; Y 3/28/95 Open/Equity 374.45 13.93
245 Putnam Voyager Fund II; A 4/14/93 Open/Equity 832.02 23.95
246 Putnam Voyager Fund II; B 10/2/95 Open/Equity 764.67 23.27
247 Putnam Voyager Fund II; C 2/1/99 Open/Equity 17.91 23.92
248 Putnam Voyager Fund II; M 10/2/95 Open/Equity 91.05 23.52
249 Putnam Voyager Fund; A 4/1/96 Open/Equity 16,538. 23.26
88
250 Putnam Voyager Fund; B 4/27/92 Open/Equity 8,137.9 21.68
0
251 Putnam Voyager Fund; M 12/1/94 Open/Equity 372.11 22.67
252 Putnam Voyager Fund; Y 4/1/94 Open/Equity 2,111.0 23.67
8
253 Putnam VT Asia Pacific 5/1/95 Open/Equity 109.36 9.34
Growth Fund; IA
254 Putnam VT Asia Pacific 4/30/98 Open/Equity 0.18 9.33
Growth Fund; IB
255 Putnam VT Diversified 9/15/93 Open/Bond 654.27 9.78
Income Fund; IA
256 Putnam VT Diversified 4/6/98 Open/Bond 4.77 9.76
Income Fund; IB
257 Putnam VT Global Asset 2/1/88 Open/Balanc 984.90 17.78
Allocation Fund; IA ed
258 Putnam VT Global Asset 4/30/98 Open/Balanc 2.12 17.78
Allocation Fund; IB ed
259 Putnam VT George Putnam 4/30/98 Open/Equity 207.02 10.74
Fund; IA
260 Putnam VT George Putnam 4/30/98 Open/Equity 6.46 10.74
Fund; IB
261 Putnam VT Global Growth 5/1/90 Open/Equity 1,929.8 18.37
Fund; IA 5
262 Putnam VT Global Growth 4/30/98 Open/Equity 3.01 18.35
Fund; IB
263 Putnam VT Growth and 2/1/88 Open/Balanc 10,607. 28.48
Income Fund; IA ed 21
264 Putnam VT Growth and 4/6/98 Open/Balanc 21.74 28.44
Income Fund; IB ed
265 Putnam VT High Yield Fund; 2/1/88 Open/Bond 1,035.5 10.91
IA 7
266 Putnam VT High Yield Fund; 4/30/98 Open/Bond 5.29 10.91
IB
267 Putnam VT Health and 4/30/98 Open/Equity 176.76 9.74
Sciences Fund; IA
268 Putnam VT Health and 4/30/98 Open/Equity 3.73 9.73
Sciences Fund; IB
269 Putnam VT Income Fund; IA 2/1/88 Open/Bond 1,022.6 12.60
8
270 Putnam VT Income Fund; IB 4/30/98 Open/Bond 5.46 12.60
271 Putnam VT International 1/1/97 Open/Balanc 319.85 13.09
Growth and Income; IA ed
272 Putnam VT International 4/6/98 Open/Balanc 1.47 13.08
Growth and Income; IB ed
273 Putnam VT International 1/1/97 Open/Equity 136.51 12.22
New Opportunities Fund; IA
274 Putnam VT International 4/30/98 Open/Equity 0.21 12.21
New Opportunities Fund; IB
275 Putnam VT International 1/1/97 Open/Equity 356.08 14.22
Growth Fund; IA
276 Putnam VT International 4/30/98 Open/Equity 3.20 14.21
Growth Fund; IB
277 Putnam VT Investors Fund; 4/30/98 Open/Equity 478.03 11.82
IA
278 Putnam VT Investors Fund; 4/30/98 Open/Equity 8.91 11.80
IB
279 Putnam VT Money Market 2/1/88 Open/Bond 707.69 1.00
Fund; IA
280 Putnam VT Money Market 4/30/98 Open/Bond 10.22 1.00
Fund; IB
281 Putnam VT New 5/2/94 Open/Equity 3,780.9 26.55
Opportunities Fund; IA 2
282 Putnam VT New 4/30/98 Open/Equity 3.92 26.51
Opportunities Fund; IB
283 Putnam VT New Value Fund; 1/2/97 Open/Equity 284.92 13.23
IA
284 Putnam VT New Value Fund; 4/30/98 Open/Equity 1.51 13.22
IB
285 Putnam VT OTC & Emerging 4/30/98 Open/Equity 43.17 10.77
Growth Fund; IA
286 Putnam VT OTC & Emerging 4/30/98 Open/Equity 1.09 10.77
Growth Fund; IB
287 Putnam VT Research; IA 10/1/98 Open/Equity 62.17 12.55
288 Putnam VT Research; IB 10/1/98 Open/Equity 1.52 12.54
289 Putnam VT Small Cap Value 4/30/99 Open/Equity 2.51 10.35
Fund; IA
290 Putnam VT Small Cap Value 4/30/99 Open/Equity 0.14 10.35
Fund; IB
291 Putnam VT Utilities Growth 5/1/92 Open/Balanc 1,029.1 17.44
and Income Fund; IA ed 1
292 Putnam VT Utilities Growth 4/30/98 Open/Balanc 3.47 17.44
and Income Fund; IB ed
293 Putnam VT Vista Fund; IA 1/2/97 Open/Equity 346.14 15.49
294 Putnam VT Vista Fund; IB 4/30/98 Open/Equity 2.03 15.49
295 Putnam VT Voyager Fund; IA 2/1/88 Open/Equity 6,177.6 44.52
9
296 Putnam VT Voyager Fund; IB 4/30/98 Open/Equity 13.95 44.47
(5) Miscellaneous
There has been, or is, no litigation or fact which caused
or would cause, a material effect on the Fund and/or the
Investment Management Company during the six months
before the filing of this report.
III. OUTLINE OF THE FINANCIAL STATUS OF THE FUND
[Translation of Unaudited Semi-annual Accounts will be
attached.]
IV. OUTLINE OF THE FINANCIAL STATUS OF THE INVESTMENT
MANAGEMENT COMPANY
[Translation of Unaudited Semi-annual Accounts will be
attached.]
AMENDMENT TO SECURITIES REGISTRATION STATEMENT
PUTNAM DIVERSIFIED INCOME TRUST
AMENDMENT TO THE SECURITIES REGISTRATION STATEMENT
To: Director of Kanto Local Finance Bureau
Filing Date: June 29, 1999
Name of the Registrant Trust: PUTNAM DIVERSIFIED INCOME TRUST
Name and Official Title of Trustees: George Putnam
William F. Pounds
John A. Hill
Jameson A. Baxter
Hans H. Estin
Ronald J. Jackson
Paul L. Joskow
Elizabeth T. Kennan
Lawrence J. Lasser
John H. Mullin, III
Robert E. Patterson
Donald S. Perkins
George Putnam, III
A.J.C. Smith
W. Thomas Stephens
W. Nicholas Thorndike
Address of Principal Office: One Post Office Square
Boston, Massachusetts 02109
U.S.A.
Name and Title of Registration Agent: Harume Nakano
Attorney-at-Law
Signature [Harume Nakano]
(Seal)
Ken Miura
Attorney-at-Law
Signature [Ken Miura]
(Seal)
Address or Place of Business Kasumigaseki Building, 25th Floor
2-5, Kasumigaseki 3-chome
Chiyoda-ku, Tokyo
Name of Liaison Contact: Harume Nakano
Ken Miura
Attorneys-at-Law
Place of Liaison Contact: Hamada & Matsumoto
Kasumigaseki Building, 25th Floor
2-5, Kasumigaseki 3-chome
Chiyoda-ku, Tokyo
Phone Number: 03-3580-3377
- ii -
Public Offering or Sale for Registration
Name of the Fund Making Public PUTNAM DIVERSIFIED INCOME TRUST
Offering or Sale of Foreign
Investment Fund Securities:
Type and Aggregate Amount of Up to 1 billion Class M Shares
Foreign Investment Fund Securities Up to the total amount obtained by
to be Publicly Offered or Sold: aggregating the respective
net asset value per Class M
Share in respect of 1 billion
Class M Shares
(The Maximum amount expected to be
sold is 11.46 billion U.S.
dollars (approximately yen1,391.8
billion)).
Note 1: U.S.$ amount is translated into Japanese Yen at the
rate of U.S.$l.00=yen121.45 the mean of the exchange rate
quotations by The Bank of Tokyo-Mitsubishi, Ltd. for
buying and selling spot dollars by telegraphic transfer
against yen on May 31, 1999.
Note 2: The maximum amount expected to be sold is an amount
calculated by multiplying the net asset value per Class M
Share as of the end of December, 1998 (U.S.$11.46) by 1
billion Class M Shares for convenience.
Places where a copy of this Amendment to the Securities
Registration
Statement is available for Public Inspection
Not applicable.
(Total number of pages of this Securities Registration
Statement in Japanese is
2 including front and back pages.)
I. Reason For Filing This Amendment To Securities
Registration Statement:
This statement purports to amend and update the relevant
information of the Securities Registration Statement
("SRS") filed on February 5, 1999 due to the fact that
the aforementioned Semi-annual Report was filed today.
The exchange rates used in this statement to translate
the amended amounts of foreign currencies are different
from those used before these amendments, as the latest
exchange rates are used in this statement.
II. Contents of the Amendments:
Part II. INFORMATION ON THE ISSUER (page 4 of the original
Japanese SRS)
The following matters in the original Japanese SRS are
amended to have the same contents as those provided in
the following items of the aforementioned Semi-annual
Report:
Before amendment After amendment
[Original Japanese SRS] [Aforementioned Semi-annual Report]
I. Description of the Fund I. Status of Investment
5. Status of Investment Portfolio of the Fund
Portfolio
(A) Diversification of (1 Diversification of
Investment Portfolio Investment Portfolio
(the aforementioned
Japanese Semi-annual
Report, page 1)
(B) Results of Past Operations (2 Results of Past Operations
Record of Changes in Net Record of Changes in Net
(1) Assets (Class M Shares) a) Assets (Class M Shares)
(Regarding the amounts as (Ditto, page 3)
at the end of each month (Regarding the amounts as
during one-year period at the end of each month
from, and including, the during one-year period
latest relevant date from, and including, the
appertaining to the filing latest relevant date
date of the original appertaining to the filing
Japanese SRS) date of the afore-mentioned
Semi-annual Report)
Record of Distributions Record of Distributions
(2) Paid (Class M Shares) b) Paid (Class M Shares)
(Regarding the dividends (Ditto, page 4)
paid at the end of each (Regarding the dividends
month up to the latest paid at the end of each
relevant date of the month up to the latest
original Japanese SRS) relevant date of the afore-
mentioned Semi-annual
Report)
II. Outline of the Trust II Outline of the Trust
.
1. Trust 1. Trust
(E) Amount of Capital Share (1 Amount of Capital Share
) (Ditto, page 5)
(G) Information Concerning (2 Information Concerning
Major Shareholders ) Major Shareholders (Ditto,
page 5)
(H) Information Concerning (3 Information Concerning
Directors, Officers and ) Directors, Officers and
Employees Employees (Ditto, page 5)
(I) Description of Business and (4 Description of Business and
Outline of Operation ) Outline of Operation
(Ditto, page 8)
2. Putnam Investment 2. Putnam Investment
Management, Inc. Management, Inc.
(Investment Management (Investment Management
Company) Company)
(E) Amount of Capital Share (1 Amount of Capital Share
) (Ditto, page 8)
(G) Information Concerning (2 Information Concerning
Major Shareholders ) Major Shareholders (Ditto,
page 9)
(H) Information Concerning (3 Information Concerning
Officers and Employees ) Officers and Employees
(Ditto, page 9)
(I) Description of Business and (4 Description of Business and
Outline of Operation ) Outline of Operation
(Ditto, page 18)
With respect to Section IV the Financial Conditions of
the Fund in the original SRS, Item III Financial
Conditions of the Fund in the aforementioned Semi-annual
Report (Ditto, from page 32 to 75) is added to the
original SRS.
Part III. SPECIAL INFORMATION (page 6 of the original Japanese SRS)
With respect to Section II the Financial Conditions of
the Investment Management Company in the original SRS,
Item IV Financial Conditions of the Investment Management
Company in the aforementioned Semi-annual Report (Ditto,
page 76 to 95) is added to the original SRS.
