PUTNAM INVESTMENT FUNDS
NSAR-B/A, 1996-10-30
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<PAGE>      PAGE  1
000 B000000 08/31/96
000 C000000 0000932101
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 PUTNAM INVESTMENT FUNDS
001 B000000 811-7237
001 C000000 6172921562
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 Y
077 A000000 Y
080 A00AA00 FEDERAL INSURANCE COMPANY
080 B00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
080 C00AA00    85000
081 A00AA00 Y
081 B00AA00  97
082 A00AA00 N
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083 A00AA00 N
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084 A00AA00 N
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<PAGE>      PAGE  2
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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SIGNATURE   PAUL BUCUVALAS                               
TITLE       VICE PRESIDENT      
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY 
FINANCIAL INFORMATION EXTRACTED 
FROM Putnam Japan Fund AND IS 
QUALIFIED IN ITS ENTIRETY BY 
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>YEAR	
<FISCAL-YEAR-END>AUG-31-1996
<PERIOD-END>	AUG-31-1996
<INVESTMENTS-AT-COST >3,348,567	    
<INVESTMENTS-AT-VALUE>3,050,986
<RECEIVABLES>1,048
<ASSETS-OTHER>284
<OTHER-ITEMS-ASSETS>3,494
<TOTAL-ASSETS>3,055,812
<PAYABLE-FOR-SECURITIES>0
<SENIOR-LONG-TERM-DEBT>0
<OTHER-ITEMS-LIABILITIES>36,069
<TOTAL-LIABILITIES>	36,069
<SENIOR-EQUITY>0
<PAID-IN-CAPITAL-COMMON>3,218,146
<SHARES-COMMON-STOCK>378,808
<SHARES-COMMON-PRIOR>0
<ACCUMULATED-NII-CURRENT>34,205
<OVERDISTRIBUTION-NII>0
<ACCUMULATED-NET-GAINS>71,409
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>(304,017)
<NET-ASSETS>	3,019,743
<DIVIDEND-INCOME>13,695
<INTEREST-INCOME>6,416
<OTHER-INCOME>0
<EXPENSES-NET>29,537
<NET-INVESTMENT-INCOME>(9,426)
<REALIZED-GAINS-CURRENT>114,878
<APPREC-INCREASE-CURRENT>(304,017)
<NET-CHANGE-FROM-OPS>(198,565)
<EQUALIZATION>0
<DISTRIBUTIONS-OF-INCOME>0
<DISTRIBUTIONS-OF-GAINS>0
<DISTRIBUTIONS-OTHER>0
<NUMBER-OF-SHARES-SOLD>232,144
<NUMBER-OF-SHARES-REDEEMED>(206,277)
<SHARES-REINVESTED>0
<NET-CHANGE-IN-ASSETS>19,743
<ACCUMULATED-NII-PRIOR>0
<ACCUMULATED-GAINS-PRIOR>0
<OVERDISTRIB-NII-PRIOR>0
<OVERDIST-NET-GAINS-PRIOR>0
<GROSS-ADVISORY-FEES>17,294
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>31,425
<AVERAGE-NET-ASSETS>3,202,008
<PER-SHARE-NAV-BEGIN>8.50
<PER-SHARE-NII>(.02)
<PER-SHARE-GAIN-APPREC>(.51)
<PER-SHARE-DIVIDEND>0
<PER-SHARE-DISTRIBUTIONS>0
<RETURNS-OF-CAPITAL>0
<PER-SHARE-NAV-END>7.97
<EXPENSE-RATIO>.98
<AVG-DEBT-OUTSTANDING>0
<AVG-DEBT-PER-SHARE>0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY 
FINANCIAL INFORMATION EXTRACTED 
FROM Putnam International Fund AND IS 
QUALIFIED IN ITS ENTIRETY BY 
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE> YEAR	
<FISCAL-YEAR-END>AUG-31-1996
<PERIOD-END>	AUG-31-1996
<INVESTMENTS-AT-COST>3,192,012	    
<INVESTMENTS-AT-VALUE>3,143,782
<RECEIVABLES>22,311
<ASSETS-OTHER>179
<OTHER-ITEMS-ASSETS>3,639
<TOTAL-ASSETS>3,169,911
<PAYABLE-FOR-SECURITIES>	0
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>25,835
<TOTAL-LIABILITIES>25,835
<SENIOR-EQUITY>0
<PAID-IN-CAPITAL-COMMON>	3,115,807
<SHARES-COMMON-STOCK>366,451
<SHARES-COMMON-PRIOR>0
<ACCUMULATED-NII-CURRENT>30,424
<OVERDISTRIBUTION-NII>0
<ACCUMULATED-NET-GAINS>45,974
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>(48,129)
<NET-ASSETS>	3,144,076
<DIVIDEND-INCOME>53,489
<INTEREST-INCOME>6,916
<OTHER-INCOME>0
<EXPENSES-NET>29,916
<NET-INVESTMENT-INCOME>	30,489
<REALIZED-GAINS-CURRENT>	45,808
<APPREC-INCREASE-CURRENT>48,129
<NET-CHANGE-FROM-OPS>28,168
<EQUALIZATION>0
<DISTRIBUTIONS-OF-INCOME>0
<DISTRIBUTIONS-OF-GAINS>0
<DISTRIBUTIONS-OTHER>0
<NUMBER-OF-SHARES-SOLD>	14,177
<NUMBER-OF-SHARES-REDEEMED>(667)
<SHARES-REINVESTED>0
<NET-CHANGE-IN-ASSETS>144,076
<ACCUMULATED-NII-PRIOR>0
<ACCUMULATED-GAINS-PRIOR>0
<OVERDISTRIB-NII-PRIOR>0
<OVERDIST-NET-GAINS-PRIOR>0
<GROSS-ADVISORY-FEES>17,083
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>30,987
<AVERAGE-NET-ASSETS>3,164,250
<PER-SHARE-NAV-BEGIN>8.50
<PER-SHARE-NII>.08
<PER-SHARE-GAIN-APPREC>0
<PER-SHARE-DIVIDEND>0
<PER-SHARE-DISTRIBUTIONS>0
<RETURNS-OF-CAPITAL>0
<PER-SHARE-NAV-END>8.58
<EXPENSE-RATIO>.98
<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>
THIS SCHEDULE CONTAINS SUMMARY 
FINANCIAL INFORMATION EXTRACTED 
FROM Putnam Emerging Growth Fund AND 
IS QUALIFIED IN ITS ENTIRETY BY 
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>YEAR 	
<FISCAL-YEAR-END>AUG-31-1996
<PERIOD-END>	AUG-31-1996
<INVESTMENTS-AT-COST >2,564,756	    
<INVESTMENTS-AT-VALUE>2,907,286
<RECEIVABLES>39,746
<ASSETS-OTHER>200
<OTHER-ITEMS-ASSETS>3,642
<TOTAL-ASSETS>2,950,874
<PAYABLE-FOR-SECURITIES>0
<SENIOR-LONG-TERM-DEBT>0
<OTHER-ITEMS-LIABILITIES>26,100
<TOTAL-LIABILITIES>26,100
<SENIOR-EQUITY>0
<PAID-IN-CAPITAL-COMMON>2,474,342
<SHARES-COMMON-STOCK>284,487
<SHARES-COMMON-PRIOR>0
<ACCUMULATED-NII-CURRENT>4,897
<OVERDISTRIBUTION-NII>0
<ACCUMULATED-NET-GAINS>103,013
<OVERDISTRIBUTION-GAINS>0
<ACCUM-APPREC-OR-DEPREC>342,522
<NET-ASSETS>2,924,774
<DIVIDEND-INCOME>28,363
<INTEREST-INCOME>4,789
<OTHER-INCOME>0
<EXPENSES-NET>30,199
<NET-INVESTMENT-INCOME>2,953
<REALIZED-GAINS-CURRENT>102,998
<APPREC-INCREASE-CURRENT>342,522
<NET-CHANGE-FROM-OPS>448,473
<EQUALIZATION>0
<DISTRIBUTIONS-OF-INCOME>0
<DISTRIBUTIONS-OF-GAINS>0
<DISTRIBUTIONS-OTHER>0
<NUMBER-OF-SHARES-SOLD>52,471
<NUMBER-OF-SHARES-REDEEMED>(3,277)
<SHARES-REINVESTED>0
<NET-CHANGE-IN-ASSETS>924,774
<ACCUMULATED-NII-PRIOR>0
<ACCUMULATED-GAINS-PRIOR>0
<OVERDISTRIB-NII-PRIOR>0
<OVERDIST-NET-GAINS-PRIOR>0
<GROSS-ADVISORY-FEES>21,095
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>32,543
<AVERAGE-NET-ASSETS>2,604,899
<PER-SHARE-NAV-BEGIN>8.50
<PER-SHARE-NII>.01
<PER-SHARE-GAIN-APPREC>1.77
<PER-SHARE-DIVIDEND>0
<PER-SHARE-DISTRIBUTIONS>0
<RETURNS-OF-CAPITAL>0
<PER-SHARE-NAV-END>10.28
<EXPENSE-RATIO>1.25
<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>
THIS SCHEDULE CONTAINS SUMMARY 
FINANCIAL INFORMATION EXTRACTED 
FROM Putnam Genesis Fund AND IS 
QUALIFIED IN ITS ENTIRETY BY 
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                                   <C>
<PERIOD-TYPE>YEAR	
<FISCAL-YEAR-END>AUG-31-1996
<PERIOD-END>	AUG-31-1996
<INVESTMENTS-AT-COST >2,305,094	    
<INVESTMENTS-AT-VALUE>2,461,911
<RECEIVABLES>2,476
<ASSETS-OTHER>184
<OTHER-ITEMS-ASSETS>3,506
<TOTAL-ASSETS>2,468,077
<PAYABLE-FOR-SECURITIES>0
<SENIOR-LONG-TERM-DEBT>0
<OTHER-ITEMS-LIABILITIES>39,349
<TOTAL-LIABILITIES>39,349
<SENIOR-EQUITY>0
<PAID-IN-CAPITAL-COMMON>2,171,408
<SHARES-COMMON-STOCK>256,489
<SHARES-COMMON-PRIOR>0
<ACCUMULATED-NII-CURRENT>62,896
<OVERDISTRIBUTION-NII>0
<ACCUMULATED-NET-GAINS>42,417
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>152,007
<NET-ASSETS>	2,428,728
<DIVIDEND-INCOME>29,316
<INTEREST-INCOME>6,020
<OTHER-INCOME>0
<EXPENSES-NET>25,200
<NET-INVESTMENT-INCOME>10,136
<REALIZED-GAINS-CURRENT>75,275
<APPREC-INCREASE-CURRENT>152,007
<NET-CHANGE-FROM-OPS>237,418
<EQUALIZATION>0
<DISTRIBUTIONS-OF-INCOME>0
<DISTRIBUTIONS-OF-GAINS>0
<DISTRIBUTIONS-OTHER>0
<NUMBER-OF-SHARES-SOLD>21,574
<NUMBER-OF-SHARES-REDEEMED>(379)
<SHARES-REINVESTED>0
<NET-CHANGE-IN-ASSETS>428,728
<ACCUMULATED-NII-PRIOR>0
<ACCUMULATED-GAINS-PRIOR>0
<OVERDISTRIB-NII-PRIOR>0
<OVERDIST-NET-GAINS-PRIOR>0
<GROSS-ADVISORY-FEES>18,596
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>28,825
<AVERAGE-NET-ASSETS>2,296,222
<PER-SHARE-NAV-BEGIN>8.50
<PER-SHARE-NII>.04
<PER-SHARE-GAIN-APPREC>.93
<PER-SHARE-DIVIDEND>0
<PER-SHARE-DISTRIBUTIONS>0
<RETURNS-OF-CAPITAL>0
<PER-SHARE-NAV-END>9.47
<EXPENSE-RATIO>1.26
<AVG-DEBT-OUTSTANDING>0
<AVG-DEBT-PER-SHARE>0
        


</TABLE>


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