PUTNAM EMERGING MARKETS FUND (the "fund")
Prospectus Supplement dated June 9, 1997
to Prospectus dated October 30, 1996
The third paragraph under the heading "How the fund is managed"
is replaced with the following:
The following officers of Putnam Investment Management, Inc.
("Putnam Management") have had primary responsibility for the
dayto-day management of the fund's portfolio since the years
stated below:
Business experience
Year (at least 5 years)
---- ----------------------------
- -
Thomas R. Haslett 1997 Employed as an investment
Managing Director
professional by Putnam
Management since December,
1996. Prior to December,
1996, Mr. Haslett was
Managing Director of
Montgomery Asset Management
Ltd.
Deborah S. Farrell 1997 Employed as an investment
Senior Vice President
professional by Putnam
Management since May, 1997.
Prior to May, 1997, Ms.
Farrell was a Portfolio
Manager at Emerging Markets
Investors Corporation, and
prior to May, 1994, Ms.
Farrell was Division
Manager, Asian Capital
Markets, at International
Finance Corporation.
J. Peter Grant
1995 Employed as an investment
Senior Vice President professional by Putnam
Management since 1973.
Carmel Peters 1997
Employed as an investment
Senior Vice President professional by Putnam
Management since May, 1997.
Prior to May, 1997, Ms.
Peters was a Managing
Director and CIO of Wheelock
Natwest Investment
Management, Hong Kong, and
prior to February, 1996, Ms.
Peters was a Director and
CIO of Rothschild Asset
Management Asia Pacific,
Hong Kong.
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