PUTNAM VOYAGER FUND II
NSAR-A, EX-27, 2000-08-29
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Putnam Voyager II Fund
</LEGEND>
<SERIES>
   <NUMBER> 4
   <NAME> CLASS M

<S>                             <C>
<PERIOD-TYPE>                  SEMI
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                              JUNE-30-2000
<INVESTMENTS-AT-COST>                    3,106,573,232
<INVESTMENTS-AT-VALUE>                   4,403,832,337
<RECEIVABLES>                               57,586,696
<ASSETS-OTHER>                               7,722,741
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           4,469,141,774
<PAYABLE-FOR-SECURITIES>                    70,405,513
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   14,273,611
<TOTAL-LIABILITIES>                         84,679,124
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                 2,854,006,480
<SHARES-COMMON-STOCK>                        4,955,443
<SHARES-COMMON-PRIOR>                        4,538,031
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                      22,433,731
<ACCUMULATED-NET-GAINS>                    256,407,096
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                 1,296,482,805
<NET-ASSETS>                             4,384,462,650
<DIVIDEND-INCOME>                            2,265,874
<INTEREST-INCOME>                            2,180,297
<OTHER-INCOME>                                       0
<EXPENSES-NET>                              26,879,902
<NET-INVESTMENT-INCOME>                   (22,433,731)
<REALIZED-GAINS-CURRENT>                   150,179,142
<APPREC-INCREASE-CURRENT>                (274,666,162)
<NET-CHANGE-FROM-OPS>                    (146,920,751)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,317,294
<NUMBER-OF-SHARES-REDEEMED>                  (899,882)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                     968,613,188
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  106,227,954
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                       10,886,457
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                             27,247,949
<AVERAGE-NET-ASSETS>                       178,980,359
<PER-SHARE-NAV-BEGIN>                            37.61
<PER-SHARE-NII>                                  (.23)
<PER-SHARE-GAIN-APPREC>                          (.74)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              36.64
<EXPENSE-RATIO>                                    .74
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


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