PUTNAM EUROPE GROWTH FUND
NSAR-A, 1995-03-01
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<PAGE>      PAGE  1
000 A000000 12/31/94
000 C000000 0000842940
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 PUTNAM EUROPE GROWTH FUND
001 B000000 811-5693
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
007 A000000 N
007 B000000  0
007 C010100  1
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008 A000001 PUTNAM INVESTMENT MANAGEMENT INC.
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
015 A000001 BROWN BROTHERS HARRIMAN & COMPANY
015 B000001 C
015 C010001 BOSTON
<PAGE>      PAGE  2
015 C020001 MA
015 C030001 02109
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000   86
019 C000000 PUTNAMFUND
020 A000001 WARBURG (SG) & CO INC
020 B000001 13-3340045
020 C000001     54
020 A000002 MORGAN STANLEY
020 B000002 13-2655998
020 C000002     23
020 A000003 MERRILL LYNCH
020 B000003 13-5674085
020 C000003     21
020 A000004 BARINGS
020 C000004     19
020 A000005 MAXWELL ESPANOSA
020 B000005 95-2953618
020 C000005     14
020 A000006 BARCLAYS
020 B000006 13-3297824
020 C000006     12
020 A000007 GOLDMAN SACHS
020 B000007 13-5108880
020 C000007     12
020 A000008 NATWEST BANK
020 C000008      8
020 A000009 SOCITE GENERALE CORP
020 C000009      7
020 A000010 SCHROEDER MUNCHMEYER HEN
020 C000010      6
021  000000      212
022 A000001 LEHMAN BROTHERS
022 B000001 13-2518466
022 C000001    208595
022 D000001         0
022 A000002 BT SECURITIES
022 B000002 13-3311934
022 C000002     40000
022 D000002         0
022 A000003 NOMURA SECURITIES
022 B000003 13-2642206
022 C000003     26000
022 D000003         0
022 A000004 JP MORGAN SECURITIES
022 B000004 13-3224016
022 C000004     20104
022 D000004         0
022 A000005 PRUDENTIAL
<PAGE>      PAGE  3
022 B000005 22-2347336
022 C000005     16850
022 D000005         0
022 A000006 GOLDMAN SACHS
022 B000006 13-5108880
022 C000006     14641
022 D000006         0
022 A000007 MORGAN STANLEY
022 B000007 13-2655998
022 C000007      4626
022 D000007       844
022 A000008 FIRST BOSTON CORP.
022 B000008 13-5659485
022 C000008      2996
022 D000008         0
022 A000009 KLEINWORT BENSON
022 B000009 13-2647786
022 C000009       882
022 D000009         0
022 A000010 CAZENOVE INC
022 B000010 94-1658752
022 C000010       786
022 D000010         0
023 C000000     335480
023 D000000        844
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025 D000001       0
025 D000002       0
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<PAGE>      PAGE  4
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<PAGE>      PAGE  9
SIGNATURE   GORDON H. SILVER                             
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 Europe Growth Fund Class A AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                                 <C>
<PERIOD-TYPE>                                      YEAR
<FISCAL-YEAR-END>                           JUN-30-1994
<PERIOD-END>                                DEC-31-1994
<INVESTMENTS-AT-COST>                       114,817,213
<INVESTMENTS-AT-VALUE>                      122,249,831
<RECEIVABLES>                                   946,679
<ASSETS-OTHER>                                    5,277
<OTHER-ITEMS-ASSETS>                                  0
<TOTAL-ASSETS>                              123,201,787
<PAYABLE-FOR-SECURITIES>                        145,789
<SENIOR-LONG-TERM-DEBT>                               0
<OTHER-ITEMS-LIABILITIES>                     1,193,881
<TOTAL-LIABILITIES>                           1,339,670
<SENIOR-EQUITY>                                       0
<PAID-IN-CAPITAL-COMMON>                    114,664,726
<SHARES-COMMON-STOCK>                         6,711,102
<SHARES-COMMON-PRIOR>                         5,797,997
<ACCUMULATED-NII-CURRENT>                             0
<OVERDISTRIBUTION-NII>                         (90,398)
<ACCUMULATED-NET-GAINS>                         169,903
<OVERDISTRIBUTION-GAINS>                              0
<ACCUM-APPREC-OR-DEPREC>                      7,117,886
<NET-ASSETS>                                121,862,117
<DIVIDEND-INCOME>                               891,319  
<INTEREST-INCOME>                               111,994
<OTHER-INCOME>                                        0
<EXPENSES-NET>                                  907,592
<NET-INVESTMENT-INCOME>                          95,721
<REALIZED-GAINS-CURRENT>                      1,281,398
<APPREC-INCREASE-CURRENT>                     4,783,028
<NET-CHANGE-FROM-OPS>                         6,160,147
<EQUALIZATION>                                        0
<DISTRIBUTIONS-OF-INCOME>                             0
<DISTRIBUTIONS-OF-GAINS>                    (1,072,392)
<DISTRIBUTIONS-OTHER>                                 0
<NUMBER-OF-SHARES-SOLD>                       2,845,598
<NUMBER-OF-SHARES-REDEEMED>                 (1,932,493)
<SHARES-REINVESTED>                                   0
<NET-CHANGE-IN-ASSETS>                       33,023,556
<ACCUMULATED-NII-PRIOR>                               0
<ACCUMULATED-GAINS-PRIOR>                       466,625
<OVERDISTRIB-NII-PRIOR>                       (186,119)
<OVERDIST-NET-GAINS-PRIOR>                            0
<GROSS-ADVISORY-FEES>                           454,065
<INTEREST-EXPENSE>                                    0
<GROSS-EXPENSE>                                 907,592
<AVERAGE-NET-ASSETS>                         79,719,799
<PER-SHARE-NAV-BEGIN>                             11.64
<PER-SHARE-NII>                                     .03
<PER-SHARE-GAIN-APPREC>                             .80
<PER-SHARE-DIVIDEND>                                  0
<PER-SHARE-DISTRIBUTIONS>                         (.16)
<RETURNS-OF-CAPITAL>                                  0
<PER-SHARE-NAV-END>                               12.31
<EXPENSE-RATIO>                                     .70
<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 Europe Growth Fund Class B AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                                 <C>
<PERIOD-TYPE>                                      YEAR
<FISCAL-YEAR-END>                           JUN-30-1994
<PERIOD-END>                                DEC-31-1994
<INVESTMENTS-AT-COST>                       114,817,213
<INVESTMENTS-AT-VALUE>                      122,249,831
<RECEIVABLES>                                   946,679
<ASSETS-OTHER>                                    5,277
<OTHER-ITEMS-ASSETS>                                  0
<TOTAL-ASSETS>                              123,201,787
<PAYABLE-FOR-SECURITIES>                        145,789
<SENIOR-LONG-TERM-DEBT>                               0
<OTHER-ITEMS-LIABILITIES>                     1,193,881
<TOTAL-LIABILITIES>                           1,339,670
<SENIOR-EQUITY>                                       0
<PAID-IN-CAPITAL-COMMON>                    114,664,726
<SHARES-COMMON-STOCK>                         3,197,888
<SHARES-COMMON-PRIOR>                         1,838,808
<ACCUMULATED-NII-CURRENT>                             0
<OVERDISTRIBUTION-NII>                         (90,398)
<ACCUMULATED-NET-GAINS>                         169,903
<OVERDISTRIBUTION-GAINS>                              0
<ACCUM-APPREC-OR-DEPREC>                      7,117,886
<NET-ASSETS>                                121,862,117
<DIVIDEND-INCOME>                               891,319  
<INTEREST-INCOME>                               111,994
<OTHER-INCOME>                                        0
<EXPENSES-NET>                                  907,592
<NET-INVESTMENT-INCOME>                          95,721
<REALIZED-GAINS-CURRENT>                      1,281,398
<APPREC-INCREASE-CURRENT>                     4,783,028
<NET-CHANGE-FROM-OPS>                         6,160,147
<EQUALIZATION>                                        0
<DISTRIBUTIONS-OF-INCOME>                             0
<DISTRIBUTIONS-OF-GAINS>                      (505,129)
<DISTRIBUTIONS-OTHER>                                 0
<NUMBER-OF-SHARES-SOLD>                       2,308,642
<NUMBER-OF-SHARES-REDEEMED>                   (949,562)
<SHARES-REINVESTED>                                   0
<NET-CHANGE-IN-ASSETS>                       33,023,556
<ACCUMULATED-NII-PRIOR>                               0
<ACCUMULATED-GAINS-PRIOR>                       466,625
<OVERDISTRIB-NII-PRIOR>                       (186,119)
<OVERDIST-NET-GAINS-PRIOR>                            0
<GROSS-ADVISORY-FEES>                           454,065
<INTEREST-EXPENSE>                                    0
<GROSS-EXPENSE>                                 907,592
<AVERAGE-NET-ASSETS>                         32,822,017
<PER-SHARE-NAV-BEGIN>                             11.62
<PER-SHARE-NII>                                   (.01)
<PER-SHARE-GAIN-APPREC>                             .80
<PER-SHARE-DIVIDEND>                                  0
<PER-SHARE-DISTRIBUTIONS>                         (.16)
<RETURNS-OF-CAPITAL>                                  0
<PER-SHARE-NAV-END>                               12.25
<EXPENSE-RATIO>                                    1.07
<AVG-DEBT-OUTSTANDING>                                0
<AVG-DEBT-PER-SHARE>                                  0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM Putnam Europe Growth Fund Class M AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                                 <C>
<PERIOD-TYPE>                                      YEAR
<FISCAL-YEAR-END>                           JUN-30-1994
<PERIOD-END>                                DEC-31-1994
<INVESTMENTS-AT-COST>                       114,817,213
<INVESTMENTS-AT-VALUE>                      122,249,831
<RECEIVABLES>                                   946,679
<ASSETS-OTHER>                                    5,277
<OTHER-ITEMS-ASSETS>                                  0
<TOTAL-ASSETS>                              123,201,787
<PAYABLE-FOR-SECURITIES>                        145,789
<SENIOR-LONG-TERM-DEBT>                               0
<OTHER-ITEMS-LIABILITIES>                     1,193,881
<TOTAL-LIABILITIES>                           1,339,670
<SENIOR-EQUITY>                                       0
<PAID-IN-CAPITAL-COMMON>                    114,664,726
<SHARES-COMMON-STOCK>                             3,831
<SHARES-COMMON-PRIOR>                                 0
<ACCUMULATED-NII-CURRENT>                             0
<OVERDISTRIBUTION-NII>                         (90,398)
<ACCUMULATED-NET-GAINS>                         169,903
<OVERDISTRIBUTION-GAINS>                              0
<ACCUM-APPREC-OR-DEPREC>                      7,117,886
<NET-ASSETS>                                121,862,117
<DIVIDEND-INCOME>                               891,319  
<INTEREST-INCOME>                               111,994
<OTHER-INCOME>                                        0
<EXPENSES-NET>                                  907,592
<NET-INVESTMENT-INCOME>                          95,721
<REALIZED-GAINS-CURRENT>                      1,281,398
<APPREC-INCREASE-CURRENT>                     4,783,028
<NET-CHANGE-FROM-OPS>                         6,160,147
<EQUALIZATION>                                        0
<DISTRIBUTIONS-OF-INCOME>                             0
<DISTRIBUTIONS-OF-GAINS>                          (599)
<DISTRIBUTIONS-OTHER>                                 0
<NUMBER-OF-SHARES-SOLD>                           3,831
<NUMBER-OF-SHARES-REDEEMED>                           0
<SHARES-REINVESTED>                                   0
<NET-CHANGE-IN-ASSETS>                       33,023,556
<ACCUMULATED-NII-PRIOR>                               0
<ACCUMULATED-GAINS-PRIOR>                       466,625
<OVERDISTRIB-NII-PRIOR>                       (186,119)
<OVERDIST-NET-GAINS-PRIOR>                            0
<GROSS-ADVISORY-FEES>                           454,065
<INTEREST-EXPENSE>                                    0
<GROSS-EXPENSE>                                 907,592
<AVERAGE-NET-ASSETS>                             26,879
<PER-SHARE-NAV-BEGIN>                             12.35
<PER-SHARE-NII>                                   (.01)
<PER-SHARE-GAIN-APPREC>                             .13
<PER-SHARE-DIVIDEND>                                  0
<PER-SHARE-DISTRIBUTIONS>                         (.16)
<RETURNS-OF-CAPITAL>                                  0
<PER-SHARE-NAV-END>                               12.31
<EXPENSE-RATIO>                                     .18
<AVG-DEBT-OUTSTANDING>                                0
<AVG-DEBT-PER-SHARE>                                  0
        

</TABLE>


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