PUTNAM INVESTMENT FUNDS
NSAR-B, EX-27, 2000-06-28
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Putnam Mid Cap Value Fund
</LEGEN D>
<SERIES>
   <NUMBER> 1
   <NAME> CLASS A

<S>                             <C>
<PERIOD-TYPE>                   ANNUAL
<FISCAL-YEAR-END>                          APR-30-2000
<PERIOD-END>                               APR-30-2000
<INVESTMENTS-AT-COST>                        3,809,585
<INVESTMENTS-AT-VALUE>                       3,911,737
<RECEIVABLES>                                   59,223
<ASSETS-OTHER>                                     199
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               3,971,159
<PAYABLE-FOR-SECURITIES>                       113,301
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       12,086
<TOTAL-LIABILITIES>                            125,387
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     3,549,905
<SHARES-COMMON-STOCK>                          416,276
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                          243
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        193,472
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       102,152
<NET-ASSETS>                                 3,845,772
<DIVIDEND-INCOME>                               32,892
<INTEREST-INCOME>                                  924
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  14,238
<NET-INVESTMENT-INCOME>                         19,578
<REALIZED-GAINS-CURRENT>                       193,472
<APPREC-INCREASE-CURRENT>                      102,152
<NET-CHANGE-FROM-OPS>                          315,202
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (19,335)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         63,199
<NUMBER-OF-SHARES-REDEEMED>                    (2,133)
<SHARES-REINVESTED>                              2,269
<NET-CHANGE-IN-ASSETS>                         845,772
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 15,660
<AVERAGE-NET-ASSETS>                         3,152,581
<PER-SHARE-NAV-BEGIN>                             8.50
<PER-SHARE-NII>                                   0.05
<PER-SHARE-GAIN-APPREC>                           0.74
<PER-SHARE-DIVIDEND>                            (0.05)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.24
<EXPENSE-RATIO>                                   0.50
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
                                                     0

</TABLE>


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