PUTNAM ASSET ALLOCATION FUNDS
NSAR-B, EX-27, 2000-11-29
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Putnam Asset Allocation: Conservative Portfolio
</LEGEND>
<SERIES>
   <NUMBER> 5
   <NAME> CLASS Y

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<EXPENSE-RATIO>                                   1.00
[AVG-DEBT-OUTSTANDING]                               0
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</TABLE>


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