PUTNAM EUROPE GROWTH FUND
NSAR-B, 1996-08-29
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<PAGE>      PAGE  2
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SIGNATURE   PAUL BUCAVALAS                               
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 II Fund Class A AND 
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE 
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>                        OTHER 	
<FISCAL-YEAR-END>	DEC-31-1995
<PERIOD-END>	JUN-30-1996
<INVESTMENTS-AT-COST >   434,723,997
<INVESTMENTS-AT-VALUE>	483,376,674
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<OVERDISTRIBUTION-GAINS>	(6,796,144)
<ACCUM-APPREC-OR-DEPREC>48,652,690
<NET-ASSETS>	483,712,251
<DIVIDEND-INCOME>	684,691
<INTEREST-INCOME>	436,076
<OTHER-INCOME>	0
<EXPENSES-NET>	2,759,828
<NET-INVESTMENT-INCOME>	(1,639,061)
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<NET-CHANGE-FROM-OPS>	29,896,277
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME> (338)
<DISTRIBUTIONS-OF-GAINS>	0
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<NET-CHANGE-IN-ASSETS>	327,093,789
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<GROSS-ADVISORY-FEES>	1,103,987
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<GROSS-EXPENSE>	2,883,064
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</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 II Fund Class B AND 
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE 
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>                        OTHER 	
<FISCAL-YEAR-END>	DEC-31-1995
<PERIOD-END>	JUN-30-1996
<INVESTMENTS-AT-COST >  434,723,997
<INVESTMENTS-AT-VALUE>	483,376,674
<RECEIVABLES>	11,240,892
<ASSETS-OTHER>	78,756
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<OTHER-ITEMS-LIABILITIES>	1,970,761
<TOTAL-LIABILITIES>	10,984,071
<SENIOR-EQUITY>	0
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<NET-CHANGE-FROM-OPS>	29,896,277
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	(338)
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</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 II Fund Class M AND 
IS QUALIFIED IN ITS ENTIRETY BY 
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>                        OTHER 	
<FISCAL-YEAR-END>	DEC-31-1995
<PERIOD-END>	JUN-30-1996
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<TOTAL-LIABILITIES>	10,984,071
<SENIOR-EQUITY>	0
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<DISTRIBUTIONS-OF-INCOME>	(338)
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	1,206,357
<NUMBER-OF-SHARES-REDEEMED>	(157,141)
<SHARES-REINVESTED>	42
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<AVG-DEBT-PER-SHARE>	0



</TABLE>


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