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<PAGE> PAGE 13
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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074 V020600 16.20
074 W000600 0.0000
074 X000600 203282
074 Y000600 0
075 A000600 0
075 B000600 1770061
076 000600 0.00
080 A000600 FEDERAL INSURANCE COMPANY
080 B000600 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000600 50000
081 A000600 Y
081 B000600 96
082 A000600 N
082 B000600 0
083 A000600 N
083 B000600 0
084 A000600 N
084 B000600 0
085 A000600 Y
085 B000600 N
SIGNATURE PAUL BUCUVALAS
TITLE MANAGING DIRECTOR
November 9, 1999
To the Board of Trustees of Putnam Balanced Fund:
In planning and performing our audit of the financial
statements of Putnam Balanced Fund for the year ended September
30, 1999, we considered its internal control, including control
activities for safeguarding securities, in order to determine
our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on
internal control.
The management of Putnam Balanced Fund is responsible for
establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal controls, errors or
fraud may occur and may not be detected. Also, projection of
any evaluation of internal control to future periods is subject
to the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness
is a condition in which the design or operation of one or more
of the internal control components does not reduce to a
relatively low level the risk that misstatements caused by
errors or fraud in amounts that would be material in relation
to the financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving internal control and its operation,
including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of
September 30, 1999.
This report is intended solely for the information and use of
management and the Board of Trustees and the Securities and
Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Balanced Fund
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 3,400,417
<INVESTMENTS-AT-VALUE> 3,921,780
<RECEIVABLES> 78,260
<ASSETS-OTHER> 21,576
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,021,616
<PAYABLE-FOR-SECURITIES> 41,479
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13,577
<TOTAL-LIABILITIES> 55,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,962,132
<SHARES-COMMON-STOCK> 314,142
<SHARES-COMMON-PRIOR> 264,044
<ACCUMULATED-NII-CURRENT> 57,862
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 425,203
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 521,363
<NET-ASSETS> 3,966,560
<DIVIDEND-INCOME> 10,432
<INTEREST-INCOME> 90,244
<OTHER-INCOME> 0
<EXPENSES-NET> 24,169
<NET-INVESTMENT-INCOME> 76,507
<REALIZED-GAINS-CURRENT> 428,223
<APPREC-INCREASE-CURRENT> 141,449
<NET-CHANGE-FROM-OPS> 646,179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (58,592)
<DISTRIBUTIONS-OF-GAINS> (357,149)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17,014
<NUMBER-OF-SHARES-REDEEMED> (2,849)
<SHARES-REINVESTED> 35,933
<NET-CHANGE-IN-ASSETS> 819,119
<ACCUMULATED-NII-PRIOR> 37,442
<ACCUMULATED-GAINS-PRIOR> 353,843
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 24,228
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 29,129
<AVERAGE-NET-ASSETS> 3,728,095
<PER-SHARE-NAV-BEGIN> 11.92
<PER-SHARE-NII> .25
<PER-SHARE-GAIN-APPREC> 2.02
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (1.34)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.63
<EXPENSE-RATIO> .78
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
November 11, 1999
To the Board of Trustees of Putnam Global Growth & Income Fund:
In planning and performing our audit of the financial
statements of Putnam Global Growth & Income Fund for the year
ended September 30, 1999, we considered its internal control,
including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, not to provide
assurance on internal control.
The management of Putnam Global Growth & Income Fund is
responsible for establishing and maintaining internal control.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of
preparing financial statements for external purposes that are
fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal controls, errors or
fraud may occur and may not be detected. Also, projection of
any evaluation of internal control to future periods is subject
to the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness
is a condition in which the design or operation of one or more
of the internal control components does not reduce to a
relatively low level the risk that misstatements caused by
errors or fraud in amounts that would be material in relation
to the financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving internal control and its operation,
including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of
September 30, 1999.
This report is intended solely for the information and use of
management and the Board of Trustees and the Securities and
Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Global Growth and Income Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 67,152,542
<INVESTMENTS-AT-VALUE> 68,289,457
<RECEIVABLES> 1,017,639
<ASSETS-OTHER> 804
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69,307,900
<PAYABLE-FOR-SECURITIES> 1,440,818
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 452,968
<TOTAL-LIABILITIES> 1,893,786
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 61,149,595
<SHARES-COMMON-STOCK> 2,567,159
<SHARES-COMMON-PRIOR> 1,939,845
<ACCUMULATED-NII-CURRENT> 386,372
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,717,162
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,160,985
<NET-ASSETS> 67,414,114
<DIVIDEND-INCOME> 1,116,124
<INTEREST-INCOME> 99,908
<OTHER-INCOME> 0
<EXPENSES-NET> 1,109,680
<NET-INVESTMENT-INCOME> 106,352
<REALIZED-GAINS-CURRENT> 5,280,947
<APPREC-INCREASE-CURRENT> 5,551,131
<NET-CHANGE-FROM-OPS> 10,938,430
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (178,962)
<DISTRIBUTIONS-OF-GAINS> (572,711)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,343,321
<NUMBER-OF-SHARES-REDEEMED> (773,500)
<SHARES-REINVESTED> 57,493
<NET-CHANGE-IN-ASSETS> 27,225,416
<ACCUMULATED-NII-PRIOR> 129,481
<ACCUMULATED-GAINS-PRIOR> 897,492
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 443,694
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,119,272
<AVERAGE-NET-ASSETS> 30,108,154
<PER-SHARE-NAV-BEGIN> 11.39
<PER-SHARE-NII> .07
<PER-SHARE-GAIN-APPREC> 2.98
<PER-SHARE-DIVIDEND> (.09)
<PER-SHARE-DISTRIBUTIONS> (.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.06
<EXPENSE-RATIO> 1.69
[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>
Putnam Global Growth and Income Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 67,152,542
<INVESTMENTS-AT-VALUE> 68,289,457
<RECEIVABLES> 1,017,639
<ASSETS-OTHER> 804
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69,307,900
<PAYABLE-FOR-SECURITIES> 1,440,818
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 452,968
<TOTAL-LIABILITIES> 1,893,786
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 61,149,595
<SHARES-COMMON-STOCK> 2,016,832
<SHARES-COMMON-PRIOR> 1,438,991
<ACCUMULATED-NII-CURRENT> 386,372
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,717,162
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,160,985
<NET-ASSETS> 67,414,114
<DIVIDEND-INCOME> 1,116,124
<INTEREST-INCOME> 99,908
<OTHER-INCOME> 0
<EXPENSES-NET> 1,109,680
<NET-INVESTMENT-INCOME> 106,352
<REALIZED-GAINS-CURRENT> 5,280,947
<APPREC-INCREASE-CURRENT> 5,551,131
<NET-CHANGE-FROM-OPS> 10,938,430
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (51,905)
<DISTRIBUTIONS-OF-GAINS> (442,734)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 957,033
<NUMBER-OF-SHARES-REDEEMED> (416,456)
<SHARES-REINVESTED> 37,264
<NET-CHANGE-IN-ASSETS> 27,225,416
<ACCUMULATED-NII-PRIOR> 129,481
<ACCUMULATED-GAINS-PRIOR> 897,492
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 443,694
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,119,272
<AVERAGE-NET-ASSETS> 22,907,583
<PER-SHARE-NAV-BEGIN> 11.34
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> 2.95
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> (.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.94
<EXPENSE-RATIO> 2.44
[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>
Putnam Global Growth and Income Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 67,152,542
<INVESTMENTS-AT-VALUE> 68,289,457
<RECEIVABLES> 1,017,639
<ASSETS-OTHER> 804
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69,307,900
<PAYABLE-FOR-SECURITIES> 1,440,818
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 452,968
<TOTAL-LIABILITIES> 1,893,786
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 61,149,595
<SHARES-COMMON-STOCK> 36,633
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 386,372
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,717,162
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,160,985
<NET-ASSETS> 67,414,114
<DIVIDEND-INCOME> 1,116,124
<INTEREST-INCOME> 99,908
<OTHER-INCOME> 0
<EXPENSES-NET> 1,109,680
<NET-INVESTMENT-INCOME> 106,352
<REALIZED-GAINS-CURRENT> 5,280,947
<APPREC-INCREASE-CURRENT> 5,551,131
<NET-CHANGE-FROM-OPS> 10,938,430
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (168)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 36,694
<NUMBER-OF-SHARES-REDEEME> (69)
<SHARES-REINVESTED> 8
<NET-CHANGE-IN-ASSETS> 27,225,416
<ACCUMULATED-NII-PRIOR> 129,481
<ACCUMULATED-GAINS-PRIOR> 897,492
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 443,694
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,119,272
<AVERAGE-NET-ASSETS> 292,095
<PER-SHARE-NAV-BEGIN> 14.56
<PER-SHARE-NII> (.01)
<PER-SHARE-GAIN-APPREC> (.48)
<PER-SHARE-DIVIDEND> (.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.06
<EXPENSE-RATIO> .44
[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>
Putnam Global Growth and Income Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 67,152,542
<INVESTMENTS-AT-VALUE> 68,289,457
<RECEIVABLES> 1,017,639
<ASSETS-OTHER> 804
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69,307,900
<PAYABLE-FOR-SECURITIES> 1,440,818
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 452,968
<TOTAL-LIABILITIES> 1,893,786
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 61,149,595
<SHARES-COMMON-STOCK> 193,744
<SHARES-COMMON-PRIOR> 157,027
<ACCUMULATED-NII-CURRENT> 386,372
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,717,162
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,160,985
<NET-ASSETS> 67,414,114
<DIVIDEND-INCOME> 1,116,124
<INTEREST-INCOME> 99,908
<OTHER-INCOME> 0
<EXPENSES-NET> 1,109,680
<NET-INVESTMENT-INCOME> 106,352
<REALIZED-GAINS-CURRENT> 5,280,947
<APPREC-INCREASE-CURRENT> 5,551,131
<NET-CHANGE-FROM-OPS> 10,938,430
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,805)
<DISTRIBUTIONS-OF-GAINS> (48,134)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 77,602
<NUMBER-OF-SHARES-REDEEMED> (45,211)
<SHARES-REINVESTED> 4,326
<NET-CHANGE-IN-ASSETS> 27,225,416
<ACCUMULATED-NII-PRIOR> 129,481
<ACCUMULATED-GAINS-PRIOR> 897,492
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 443,694
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,119,272
<AVERAGE-NET-ASSETS> 2,390,733
<PER-SHARE-NAV-BEGIN> 11.35
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 2.98
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> (.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.00
<EXPENSE-RATIO> 2.19
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
November 11, 1999
To the Board of Trustees of Putnam International New
Opportunities Fund:
In planning and performing our audit of the financial
statements of Putnam International New Opportunities Fund for
the year ended September 30, 1999, we considered its internal
control, including control activities for safeguarding
securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR,
not to provide assurance on internal control.
The management of Putnam International New Opportunities Fund
is responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected
benefits and related costs of controls. Generally, controls
that are relevant to an audit pertain to the entity's objective
of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal controls, errors or
fraud may occur and may not be detected. Also, projection of
any evaluation of internal control to future periods is subject
to the risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material weakness
is a condition in which the design or operation of one or more
of the internal control components does not reduce to a
relatively low level the risk that misstatements caused by
errors or fraud in amounts that would be material in relation
to the financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving internal control and its operation,
including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of
September 30, 1999.
This report is intended solely for the information and use of
management and the Board of Trustees and the Securities and
Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam International New Opportunities Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 1,518,935,259
<INVESTMENTS-AT-VALUE> 2,027,297,581
<RECEIVABLES> 32,582,182
<ASSETS-OTHER> 18,738,053
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,078,617,816
<PAYABLE-FOR-SECURITIES> 14,813,237
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14,154,731
<TOTAL-LIABILITIES> 28,967,968
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,385,684,426
<SHARES-COMMON-STOCK> 54,426,642
<SHARES-COMMON-PRIOR> 58,327,849
<ACCUMULATED-NII-CURRENT> 5,302,910
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 158,062,146
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 500,600,366
<NET-ASSETS> 2,049,649,848
<DIVIDEND-INCOME> 17,734,975
<INTEREST-INCOME> 1,066,371
<OTHER-INCOME> 0
<EXPENSES-NET> 34,136,823
<NET-INVESTMENT-INCOME> (15,335,477)
<REALIZED-GAINS-CURRENT> 286,475,647
<APPREC-INCREASE-CURRENT> 487,599,465
<NET-CHANGE-FROM-OPS> 758,739,635
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 97,757,355
<NUMBER-OF-SHARES-REDEEMED> (101,658,562)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 551,475,452
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (119,561,687)
<GROSS-ADVISORY-FEES> 18,466,907
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 34,669,167
<AVERAGE-NET-ASSETS> 763,174,715
<PER-SHARE-NAV-BEGIN> 10.81
<PER-SHARE-NII> (.06)
<PER-SHARE-GAIN-APPREC> 5.89
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.64
<EXPENSE-RATIO> 1.54
[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>
Putnam International New Opportunities Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 1,518,935,259
<INVESTMENTS-AT-VALUE> 2,027,297,581
<RECEIVABLES> 32,582,182
<ASSETS-OTHER> 18,738,053
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,078,617,816
<PAYABLE-FOR-SECURITIES> 14,813,237
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14,154,731
<TOTAL-LIABILITIES> 28,967,968
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,385,684,426
<SHARES-COMMON-STOCK> 65,023,114
<SHARES-COMMON-PRIOR> 75,789,214
<ACCUMULATED-NII-CURRENT> 5,302,910
<OVERDISTRIBUTION-NII> 0
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[AVG-DEBT-OUTSTANDING] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam International New Opportunities Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS C
<S> <C>
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<PERIOD-END> SEP-30-1999
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[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>
Putnam International New Opportunities Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS M
<S> <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
