<PAGE> PAGE 1
000 B000000 06/30/98
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 A
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
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
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
013 A000001 PRICEWATERHOUSECOUPERS LLP
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02110
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 99
019 C000000 PUTNAMFUND
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000001 13-5670405
020 C000001 502
020 A000002 MORGAN STANLEY INC.
020 B000002 13-2655998
020 C000002 403
020 A000003 CREDIT SUISSE FIRST BOSTON
020 C000003 389
020 A000004 GOLDMAN SACHS & CO.
020 B000004 13-5108880
020 C000004 364
020 A000005 SBC DILLON REED
020 C000005 197
020 A000006 DEUTSCHE MORGAN GRENFELL
020 C000006 158
020 A000007 UBS SECURITIES
020 C000007 135
020 A000008 HSBC SECURITIES
020 C000008 99
020 A000009 DRESDNER KLEINWORT BENSON
020 C000009 97
020 A000010 MORGAN(J.P.) SECURITIES INC.
020 B000010 13-3224016
020 C000010 94
021 000000 2893
022 A000001 LEHMAN BROTHERS INC.
022 B000001 13-2518466
022 C000001 4795715
022 D000001 0
022 A000002 GOLDMAN SACHS & CO.
022 B000002 13-5108880
022 C000002 4193821
022 D000002 8270
022 A000003 MORGAN (J.P) SECURITIES INC.
022 B000003 13-3224016
022 C000003 947422
022 D000003 0
022 A000004 CREDIT SUISSE FIRST BOSTON
022 C000004 763984
022 D000004 0
<PAGE> PAGE 3
022 A000005 MORGAN STANLEY DEAN WITTER
022 B000005 13-2655998
022 C000005 311632
022 D000005 2779
022 A000006 SBC DILLON REED
022 C000006 174262
022 D000006 0
022 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 C000007 125792
022 D000007 4233
022 A000008 UBS SECURITIES
022 C000008 82000
022 D000008 0
022 A000009 DEUTSCHE MORGAN GRENFELL
022 C000009 765
022 D000009 0
022 A000010 SCHROEDER WERTHEIM
022 C000010 483
022 D000010 0
023 C000000 11396698
023 D000000 15282
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
026 H000000 N
027 000000 Y
028 A010000 61597
028 A020000 13
028 A030000 0
028 A040000 40109
028 B010000 77646
028 B020000 7
028 B030000 0
028 B040000 39940
028 C010000 125188
028 C020000 2
028 C030000 0
<PAGE> PAGE 4
028 C040000 57353
028 D010000 201662
028 D020000 1
028 D030000 0
028 D040000 79620
028 E010000 175730
028 E020000 2
028 E030000 0
028 E040000 71379
028 F010000 213778
028 F020000 0
028 F030000 0
028 F040000 100061
028 G010000 855601
028 G020000 25
028 G030000 0
028 G040000 388462
028 H000000 855601
029 000000 Y
030 A000000 5350
030 B000000 5.75
030 C000000 3.50
031 A000000 835
031 B000000 0
032 000000 4515
033 000000 0
034 000000 Y
035 000000 446
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 5268
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.800
<PAGE> PAGE 5
048 B010000 500000
048 B020000 0.700
048 C010000 500000
048 C020000 0.650
048 D010000 5000000
048 D020000 0.600
048 E010000 5000000
048 E020000 0.575
048 F010000 5000000
048 F020000 0.555
048 G010000 5000000
048 G020000 0.540
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 21500000
048 K020000 0.530
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 N
062 B000000 0.0
<PAGE> PAGE 6
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
<PAGE> PAGE 7
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 986611
071 B000000 412921
071 C000000 845179
071 D000000 49
072 A000000 12
072 B000000 2239
072 C000000 22159
072 D000000 0
072 E000000 0
072 F000000 6715
072 G000000 16
072 H000000 0
072 I000000 1178
072 J000000 801
072 K000000 129
072 L000000 77
072 M000000 19
072 N000000 195
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 38
072 S000000 10
072 T000000 5268
072 U000000 0
072 V000000 0
072 W000000 31
072 X000000 14477
072 Y000000 0
072 Z000000 9921
072AA000000 86038
072BB000000 0
072CC010000 178407
072CC020000 0
072DD010000 7641
072DD020000 4471
072EE000000 23127
<PAGE> PAGE 8
073 A010000 0.3730
073 A020000 0.2650
073 B000000 1.1290
073 C000000 0.0000
074 A000000 0
074 B000000 55454
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 1417523
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 15279
074 K000000 0
074 L000000 23482
074 M000000 109
074 N000000 1511847
074 O000000 34432
074 P000000 3633
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 6002
074 S000000 0
074 T000000 1467780
074 U010000 33446
074 U020000 27408
074 V010000 23.68
074 V020000 23.11
074 W000000 0.0000
074 X000000 109079
074 Y000000 0
075 A000000 0
075 B000000 892625
076 000000 0.00
077 A000000 Y
077 B000000 Y
078 000000 N
080 A000000 FEDERAL INSURANCE CO
080 B000000 NATIONAL UNION FIRE INSURANCE CO.
080 C000000 50000
081 A000000 Y
081 B000000 98
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
<PAGE> PAGE 9
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE PAUL BUCAVALAS
TITLE MANAGING DIRECTOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Europe Growth Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> YEAR END
<FISCAL-YEAR-END> JUNE-30-1998
<PERIOD-END> JUNE-30-1998
<INVESTMENTS-AT-COST> 1,202,476,697
<INVESTMENTS-AT-VALUE> 1,472,976,834
<RECEIVABLES> 38,761,281
<ASSETS-OTHER> 109,454
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,511,847,569
<PAYABLE-FOR-SECURITIES> 34,431,891
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,636,174
<TOTAL-LIABILITIES> 44,068,065
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,125,017,479
<SHARES-COMMON-STOCK> 33,446,305
<SHARES-COMMON-PRIOR> 16,537,477
<ACCUMULATED-NII-CURRENT> 10,855,424
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 61,422,187
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 270,484,414
<NET-ASSETS> 1,467,779,504
<DIVIDEND-INCOME> 22,158,596
<INTEREST-INCOME> 2,238,907
<OTHER-INCOME> 0
<EXPENSES-NET> 14,476,757
<NET-INVESTMENT-INCOME> 9,920,746
<REALIZED-GAINS-CURRENT> 86,038,453
<APPREC-INCREASE-CURRENT> 178,406,624
<NET-CHANGE-FROM-OPS> 274,365,823
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,640,645)
<DISTRIBUTIONS-OF-GAINS> (23,126,779)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 54,950,759
<NUMBER-OF-SHARES-REDEEMED> (39,575,591)
<SHARES-REINVESTED> 1,533,660
<NET-CHANGE-IN-ASSETS> 877,022,256
<ACCUMULATED-NII-PRIOR> 11,565,812
<ACCUMULATED-GAINS-PRIOR> 20,658,523
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,715,370
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,838,162
<AVERAGE-NET-ASSETS> 484,556,667
<PER-SHARE-NAV-BEGIN> 18.96
<PER-SHARE-NII> .31
<PER-SHARE-GAIN-APPREC> 5.91
<PER-SHARE-DIVIDEND> (.37)
<PER-SHARE-DISTRIBUTIONS> (1.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.68
<EXPENSE-RATIO> 1.32
<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>
Putnam Europe Growth Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> YEAR END
<FISCAL-YEAR-END> JUNE-30-1998
<PERIOD-END> JUNE-30-1998
<INVESTMENTS-AT-COST> 1,202,476,697
<INVESTMENTS-AT-VALUE> 1,472,976,834
<RECEIVABLES> 38,761,281
<ASSETS-OTHER> 109,454
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,511,847,569
<PAYABLE-FOR-SECURITIES> 34,431,891
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,636,174
<TOTAL-LIABILITIES> 44,068,065
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,125,017,479
<SHARES-COMMON-STOCK> 27,407,713
<SHARES-COMMON-PRIOR> 14,084,174
<ACCUMULATED-NII-CURRENT> 10,855,424
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 61,422,187
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 270,484,414
<NET-ASSETS> 1,467,779,504
<DIVIDEND-INCOME> 22,158,596
<INTEREST-INCOME> 2,238,907
<OTHER-INCOME> 0
<EXPENSES-NET> 14,476,757
<NET-INVESTMENT-INCOME> 9,920,746
<REALIZED-GAINS-CURRENT> 86,038,453
<APPREC-INCREASE-CURRENT> 178,406,624
<NET-CHANGE-FROM-OPS> 274,365,823
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,471,018)
<DISTRIBUTIONS-OF-GAINS> (19,048,225)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22,984,899
<NUMBER-OF-SHARES-REDEEMED> (10,853,484)
<SHARES-REINVESTED> 1,192,124
<NET-CHANGE-IN-ASSETS> 877,022,256
<ACCUMULATED-NII-PRIOR> 11,565,812
<ACCUMULATED-GAINS-PRIOR> 20,658,523
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,715,370
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,838,162
<AVERAGE-NET-ASSETS> 384,572,717
<PER-SHARE-NAV-BEGIN> 18.56
<PER-SHARE-NII> .14
<PER-SHARE-GAIN-APPREC> 5.80
<PER-SHARE-DIVIDEND> (.26)
<PER-SHARE-DISTRIBUTIONS> (1.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.11
<EXPENSE-RATIO> 2.07
<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>
Putnam Europe Growth Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> YEAR END
<FISCAL-YEAR-END> JUNE-30-1998
<PERIOD-END> JUNE-30-1998
<INVESTMENTS-AT-COST> 1,202,476,697
<INVESTMENTS-AT-VALUE> 1,472,976,834
<RECEIVABLES> 38,761,281
<ASSETS-OTHER> 109,454
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,511,847,569
<PAYABLE-FOR-SECURITIES> 34,431,891
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,636,174
<TOTAL-LIABILITIES> 44,068,065
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,125,017,479
<SHARES-COMMON-STOCK> 1,812,970
<SHARES-COMMON-PRIOR> 839,024
<ACCUMULATED-NII-CURRENT> 10,855,424
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 61,422,187
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 270,484,414
<NET-ASSETS> 1,467,779,504
<DIVIDEND-INCOME> 22,158,596
<INTEREST-INCOME> 2,238,907
<OTHER-INCOME> 0
<EXPENSES-NET> 14,476,757
<NET-INVESTMENT-INCOME> 9,920,746
<REALIZED-GAINS-CURRENT> 86,038,453
<APPREC-INCREASE-CURRENT> 178,406,624
<NET-CHANGE-FROM-OPS> 274,365,823
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (297,933)
<DISTRIBUTIONS-OF-GAINS> (1,128,746)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,224,241
<NUMBER-OF-SHARES-REDEEMED> (1,325,283)
<SHARES-REINVESTED> 74,988
<NET-CHANGE-IN-ASSETS> 877,022,256
<ACCUMULATED-NII-PRIOR> 11,565,812
<ACCUMULATED-GAINS-PRIOR> 20,658,523
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,715,370
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,838,162
<AVERAGE-NET-ASSETS> 23,495,534
<PER-SHARE-NAV-BEGIN> 18.85
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> 5.89
<PER-SHARE-DIVIDEND> (.30)
<PER-SHARE-DISTRIBUTIONS> (1.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.51
<EXPENSE-RATIO> 1.82
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>