WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Strategic Income Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 213,093,261
<INVESTMENTS-AT-VALUE> 200,597,484
<RECEIVABLES> 11,499,890
<ASSETS-OTHER> 581,910
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 212,679,284
<PAYABLE-FOR-SECURITIES> 2,557,890
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,566,715
<TOTAL-LIABILITIES> 6,126,605
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 239,261,396
<SHARES-COMMON-STOCK> 10,758,869
<SHARES-COMMON-PRIOR> 10,266,362
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,639,291)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (16,899,218)
<ACCUM-APPREC-OR-DEPREC> (13,170,208)
<NET-ASSETS> 206,552,679
<DIVIDEND-INCOME> 673,807
<INTEREST-INCOME> 20,302,619
<OTHER-INCOME> 0
<EXPENSES-NET> 3,638,883
<NET-INVESTMENT-INCOME> 17,337,543
<REALIZED-GAINS-CURRENT> (11,123,551)
<APPREC-INCREASE-CURRENT> (2,810,597)
<NET-CHANGE-FROM-OPS> 3,403,395
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,048,818)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (248,848)
<NUMBER-OF-SHARES-SOLD> 4,284,630
<NUMBER-OF-SHARES-REDEEMED> (4,453,722)
<SHARES-REINVESTED> 661,599
<NET-CHANGE-IN-ASSETS> (7,324,051)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (466,760)
<OVERDIST-NET-GAINS-PRIOR> (7,154,260)
<GROSS-ADVISORY-FEES> 1,529,424
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,671,811
<AVERAGE-NET-ASSETS> 80,179,191
<PER-SHARE-NAV-BEGIN> 7.64
<PER-SHARE-NII> .61
<PER-SHARE-GAIN-APPREC> (.47)
<PER-SHARE-DIVIDEND> (.64)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.02)
<PER-SHARE-NAV-END> 7.12
<EXPENSE-RATIO> 1.22
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
