VIA EDGAR
February 6, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Re: Putnam Asset Allocation Funds (Reg. No. 33-51017) (811-7121)
(the "Trust")
Ladies and Gentlemen:
Pursuant to Rule 497(j) under the Securities Act of 1933, as
amended, the Trust hereby certifies that the form of prospectus
that would have been filed on behalf of the Fund pursuant to Rule
497(c) upon the effectiveness of Post-Effective Amendment No. 4
to the Trust's Registration Statement on Form N-1A (the
"Amendment") would not have differed from that contained in the
Amendment, which is the most recent amendment to such
Registration Statement and was filed electronically on January
31, 1997.
Comments or questions concerning this certificate may be
directed to Frederick S. Marius at 1-800-225-2465, ext. 11796.
Very truly yours,
Putnam Asset Allocation Funds
/s/ Gordon H. Silver
By: ----------------------------------
Gordon H. Silver
Vice President
cc: Bryan Chegwidden, Esq.
