36633 9/97
PUTNAM INVESTMENT FUNDS
Putnam Global Growth and Income Fund (the "fund")
Prospectus Supplement dated September 8, 1997
to Prospectus dated December 31, 1996
The information relating to the fund contained in the second
paragraph under the heading "How the funds are managed" is replaced
with the following:
The following officers of Putnam Management have had primary
responsibility for the day-to-day management of the indicated
funds' portfolios since the years stated below:
Business experience
Year (at least 5 years)
------- -------------------------
Putnam Global Growth
and Income Fund
Hugh H. Mullin 1995 Employed as an investment
Senior Vice President professional by Putnam
Management since 1986.
Justin M. Scott 1995 Employed as an investment
Managing Director professional by Putnam
Management since 1988.
Deborah F. Kuenstner 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since March, 1997.
Prior to March, 1997, Ms.
Kuenstner was the Senior
Portfolio Manager at Dupont
Pension Fund Investment.
George W. Stairs 1997 Employed as an investment
Senior Vice President professional by Putnam
Management since July,
1994.
Prior to July, 1994, Mr.
Stairs was an Associate at
ValueQuest Ltd.
