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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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SIGNATURE PAUL BUCUVALAS
TITLE MANAGING DIRECTOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam New Value Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 664,406,128
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<SHARES-COMMON-PRIOR> 28,660,560
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<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> (39,128,120)
<ACCUM-APPREC-OR-DEPREC> (87,588,259)
<NET-ASSETS> 579,662,756
<DIVIDEND-INCOME> 7,903,413
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 3,429,161
<REALIZED-GAINS-CURRENT> (35,575,635)
<APPREC-INCREASE-CURRENT> (82,233,588)
<NET-CHANGE-FROM-OPS> (114,380,062)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,409,539)
<DISTRIBUTIONS-OF-GAINS> (37,427,304)
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<NUMBER-OF-SHARES-SOLD> 3,124,142
<NUMBER-OF-SHARES-REDEEMED> (8,648,035)
<SHARES-REINVESTED> 3,457,345
<NET-CHANGE-IN-ASSETS> (282,767,850)
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,487,474
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,665,716
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<PER-SHARE-NAV-BEGIN> 13.98
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> (2.04)
<PER-SHARE-DIVIDEND> (.16)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.47
<EXPENSE-RATIO> .56
[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 New Value Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 664,406,128
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<SENIOR-EQUITY> 0
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<SHARES-COMMON-PRIOR> 30,717,999
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<ACCUM-APPREC-OR-DEPREC> (87,588,259)
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<NUMBER-OF-SHARES-REDEEMED> (10,370,882)
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<OVERDIST-NET-GAINS-PRIOR> 0
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<PER-SHARE-NAV-END> 10.38
<EXPENSE-RATIO> .94
[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 New Value Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 664,406,128
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<ASSETS-OTHER> 1,365,727
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<SENIOR-EQUITY> 0
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (39,128,120)
<ACCUM-APPREC-OR-DEPREC> (87,588,259)
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<DIVIDEND-INCOME> 7,903,413
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 3,429,161
<REALIZED-GAINS-CURRENT> (35,575,635)
<APPREC-INCREASE-CURRENT> (82,233,588)
<NET-CHANGE-FROM-OPS> (114,380,062)
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<DISTRIBUTIONS-OF-INCOME> (15,352)
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<NUMBER-OF-SHARES-REDEEMED> (25,688)
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<NET-CHANGE-IN-ASSETS> (282,767,850)
<ACCUMULATED-NII-PRIOR> 4,095,252
<ACCUMULATED-GAINS-PRIOR> 75,334,228
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,487,474
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,665,716
<AVERAGE-NET-ASSETS> 1,301,753
<PER-SHARE-NAV-BEGIN> 13.97
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> (2.04)
<PER-SHARE-DIVIDEND> (.15)
<PER-SHARE-DISTRIBUTIONS> (1.39)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.43
<EXPENSE-RATIO> .94
[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 New Value Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 664,406,128
<INVESTMENTS-AT-VALUE> 576,817,869
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<TOTAL-ASSETS> 590,531,530
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 704,820,381
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<SHARES-COMMON-PRIOR> 2,691,429
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (39,128,120)
<ACCUM-APPREC-OR-DEPREC> (87,588,259)
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<DIVIDEND-INCOME> 7,903,413
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<OTHER-INCOME> 0
<EXPENSES-NET> 5,577,156
<NET-INVESTMENT-INCOME> 3,429,161
<REALIZED-GAINS-CURRENT> (35,575,635)
<APPREC-INCREASE-CURRENT> (82,233,588)
<NET-CHANGE-FROM-OPS> (114,380,062)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (207,356)
<DISTRIBUTIONS-OF-GAINS> (3,436,189)
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<NUMBER-OF-SHARES-SOLD> 329,646
<NUMBER-OF-SHARES-REDEEMED> (955,249)
<SHARES-REINVESTED> 306,684
<NET-CHANGE-IN-ASSETS> (282,767,850)
<ACCUMULATED-NII-PRIOR> 4,095,252
<ACCUMULATED-GAINS-PRIOR> 75,334,228
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,487,474
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,665,716
<AVERAGE-NET-ASSETS> 32,796,517
<PER-SHARE-NAV-BEGIN> 13.88
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> (2.03)
<PER-SHARE-DIVIDEND> (.08)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.43
<EXPENSE-RATIO> .81
[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 Fund
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> semi
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 4,620,547
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<PAID-IN-CAPITAL-COMMON> 4,323,783
<SHARES-COMMON-STOCK> 472,871
<SHARES-COMMON-PRIOR> 432,929
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (92,660)
<ACCUMULATED-NET-GAINS> 372,454
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,711,641
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<DIVIDEND-INCOME> 25,570
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<NET-INVESTMENT-INCOME> (15,877)
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<DISTRIBUTIONS-OF-GAINS> (532,441)
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<NUMBER-OF-SHARES-SOLD> 12,347
<NUMBER-OF-SHARES-REDEEMED> (22,186)
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<ACCUMULATED-NII-PRIOR> 35,445
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<GROSS-EXPENSE> 42,913
<AVERAGE-NET-ASSETS> 5,900,189
<PER-SHARE-NAV-BEGIN> 12.45
<PER-SHARE-NII> (.04)
<PER-SHARE-GAIN-APPREC> 2.45
<PER-SHARE-DIVIDEND> (.26)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.36
<EXPENSE-RATIO> .72
[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 Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 1,356,074,948
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<SHARES-COMMON-PRIOR> 12,542,716
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 11,655,371
<ACCUMULATED-NET-GAINS> 92,616,279
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 608,681,284
<NET-ASSETS> 1,933,200,344
<DIVIDEND-INCOME> 1,697,282
<INTEREST-INCOME> 1,164,330
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<EXPENSES-NET> 7,861,778
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<DISTRIBUTIONS-OF-GAINS> (9,743,581)
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<NUMBER-OF-SHARES-REDEEMED> (8,337,086)
<SHARES-REINVESTED> 2,954,687
<NET-CHANGE-IN-ASSETS> 1,523,529,665
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 12,738,284
<OVERDISTRIB-NII-PRIOR> 1,862,835
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,039,294
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,046,327
<AVERAGE-NET-ASSETS> 450,164,351
<PER-SHARE-NAV-BEGIN> 17.28
<PER-SHARE-NII> (.10)
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<PER-SHARE-DIVIDEND> (.17)
<PER-SHARE-DISTRIBUTIONS> (.53)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.27
<EXPENSE-RATIO> 0.78
[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 Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> CLASS B
<S> <C>
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<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 1,356,074,948
<INVESTMENTS-AT-VALUE> 1,962,249,197
<RECEIVABLES> 114,307,389
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<ACCUMULATED-NET-GAINS> 92,616,279
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 608,681,284
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<INTEREST-INCOME> 1,164,330
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<EXPENSES-NET> 7,861,778
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<DISTRIBUTIONS-OF-GAINS> (7,592,112)
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<NUMBER-OF-SHARES-SOLD> 15,315,838
<NUMBER-OF-SHARES-REDEEMED> (2,231,723)
<SHARES-REINVESTED> 331,222
<NET-CHANGE-IN-ASSETS> 1,523,529,665
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 12,738,284
<OVERDISTRIB-NII-PRIOR> 1,862,835
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,039,294
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,046,327
<AVERAGE-NET-ASSETS> 339,052,876
<PER-SHARE-NAV-BEGIN> 17.07
<PER-SHARE-NII> (.18)
<PER-SHARE-GAIN-APPREC> 15.57
<PER-SHARE-DIVIDEND> (.09)
<PER-SHARE-DISTRIBUTIONS> (.53)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 31.84
<EXPENSE-RATIO> 1.15
[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 Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 1,356,074,948
<INVESTMENTS-AT-VALUE> 1,962,249,197
<RECEIVABLES> 114,307,389
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<TOTAL-ASSETS> 2,077,514,787
<PAYABLE-FOR-SECURITIES> 136,463,663
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,850,780
<TOTAL-LIABILITIES> 144,314,443
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,243,558,152
<SHARES-COMMON-STOCK> 2,802,604
<SHARES-COMMON-PRIOR> 156,983
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<ACCUMULATED-NET-GAINS> 92,616,279
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 608,681,284
<NET-ASSETS> 1,933,200,344
<DIVIDEND-INCOME> 1,697,282
<INTEREST-INCOME> 1,164,330
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<EXPENSES-NET> 7,861,778
<NET-INVESTMENT-INCOME> (5,000,166)
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<APPREC-INCREASE-CURRENT> 520,881,991
<NET-CHANGE-FROM-OPS> 614,387,873
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (125,403)
<DISTRIBUTIONS-OF-GAINS> (444,764)
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<NUMBER-OF-SHARES-SOLD> 2,688,012
<NUMBER-OF-SHARES-REDEEMED> (61,188)
<SHARES-REINVESTED> 18,797
<NET-CHANGE-IN-ASSETS> 1,523,529,665
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 12,738,284
<OVERDISTRIB-NII-PRIOR> 1,862,835
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,039,294
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,046,327
<AVERAGE-NET-ASSETS> 23,900,672
<PER-SHARE-NAV-BEGIN> 17.27
<PER-SHARE-NII> (.19)
<PER-SHARE-GAIN-APPREC> 15.78
<PER-SHARE-DIVIDEND> (.15)
<PER-SHARE-DISTRIBUTIONS> (.53)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.18
<EXPENSE-RATIO> 1.15
[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 Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 1,356,074,948
<INVESTMENTS-AT-VALUE> 1,962,249,197
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<DIVIDEND-INCOME> 1,697,282
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<NET-INVESTMENT-INCOME> (5,000,166)
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<NET-CHANGE-FROM-OPS> 614,387,873
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<NUMBER-OF-SHARES-SOLD> 1,257,308
<NUMBER-OF-SHARES-REDEEMED> (266,044)
<SHARES-REINVESTED> 42,330
<NET-CHANGE-IN-ASSETS> 1,523,529,665
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 12,738,284
<OVERDISTRIB-NII-PRIOR> 1,862,835
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,039,294
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,046,327
<AVERAGE-NET-ASSETS> 35,904,967
<PER-SHARE-NAV-BEGIN> 17.15
<PER-SHARE-NII> (.15)
<PER-SHARE-GAIN-APPREC> 15.68
<PER-SHARE-DIVIDEND> (.12)
<PER-SHARE-DISTRIBUTIONS> (.53)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.03
<EXPENSE-RATIO> 1.03
[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 Voyager Fund
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> CLASS Y
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 1,356,074,948
<INVESTMENTS-AT-VALUE> 1,962,249,197
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<NET-INVESTMENT-INCOME> (5,000,166)
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<APPREC-INCREASE-CURRENT> 520,881,991
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<NUMBER-OF-SHARES-REDEEMED> (30,721)
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<NET-CHANGE-IN-ASSETS> 1,523,529,665
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 12,738,284
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,039,294
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,046,327
<AVERAGE-NET-ASSETS> 2,343,465
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<PER-SHARE-NII> (.01)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.28
<EXPENSE-RATIO> 0.10
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
2AZ - International Voyager
New Class
Inception Date Class Y - February 1, 2000
12b-1 fees class Y - zero
Sales Charge class Y - zero
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Emerging Markets Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 125,563,982
<INVESTMENTS-AT-VALUE> 180,688,323
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<OTHER-ITEMS-LIABILITIES> 2,213,656
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<SHARES-COMMON-PRIOR> 6,485,645
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<OVERDISTRIBUTION-NII> (853,659)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (26,868,334)
<ACCUM-APPREC-OR-DEPREC> 54,075,815
<NET-ASSETS> 180,117,690
<DIVIDEND-INCOME> 566,652
<INTEREST-INCOME> 47,443
<OTHER-INCOME> 0
<EXPENSES-NET> 1,464,631
<NET-INVESTMENT-INCOME> (850,536)
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<APPREC-INCREASE-CURRENT> 35,037,088
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<DISTRIBUTIONS-OF-INCOME> (560,909)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,071,991
<NUMBER-OF-SHARES-REDEEMED> (2,578,623)
<SHARES-REINVESTED> 43,532
<NET-CHANGE-IN-ASSETS> 70,712,267
<ACCUMULATED-NII-PRIOR> 704,491
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (36,945,910)
<GROSS-ADVISORY-FEES> 664,524
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,470,205
<AVERAGE-NET-ASSETS> 75,290,629
<PER-SHARE-NAV-BEGIN> 9.35
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> 3.81
<PER-SHARE-DIVIDEND> (0.09)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.02
<EXPENSE-RATIO> 0.94
[AVG-DEBT-OUTSTANDING] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Emerging Markets Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 125,563,982
<INVESTMENTS-AT-VALUE> 180,688,323
<RECEIVABLES> 7,275,428
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<TOTAL-ASSETS> 192,234,010
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<OTHER-ITEMS-LIABILITIES> 2,213,656
<TOTAL-LIABILITIES> 12,116,320
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 153,763,868
<SHARES-COMMON-STOCK> 5,291,582
<SHARES-COMMON-PRIOR> 4,842,957
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (853,659)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (26,868,334)
<ACCUM-APPREC-OR-DEPREC> 54,075,815
<NET-ASSETS> 180,117,690
<DIVIDEND-INCOME> 566,652
<INTEREST-INCOME> 47,443
<OTHER-INCOME> 0
<EXPENSES-NET> 1,464,631
<NET-INVESTMENT-INCOME> (850,536)
<REALIZED-GAINS-CURRENT> 10,077,576
<APPREC-INCREASE-CURRENT> 35,037,088
<NET-CHANGE-FROM-OPS> 44,264,128
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (127,527)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,991,362
<NUMBER-OF-SHARES-REDEEMED> (1,552,402)
<SHARES-REINVESTED> 9,665
<NET-CHANGE-IN-ASSETS> 70,712,267
<ACCUMULATED-NII-PRIOR> 704,491
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (36,945,910)
<GROSS-ADVISORY-FEES> 664,524
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,470,205
<AVERAGE-NET-ASSETS> 53,148,708
<PER-SHARE-NAV-BEGIN> 9.26
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 3.76
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.90
<EXPENSE-RATIO> 1.31
[AVG-DEBT-OUTSTANDING] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Emerging Markets Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 125,563,982
<INVESTMENTS-AT-VALUE> 180,688,323
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<SHARES-COMMON-PRIOR> 8,709
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (853,659)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (26,868,334)
<ACCUM-APPREC-OR-DEPREC> 54,075,815
<NET-ASSETS> 180,117,690
<DIVIDEND-INCOME> 566,652
<INTEREST-INCOME> 47,443
<OTHER-INCOME> 0
<EXPENSES-NET> 1,464,631
<NET-INVESTMENT-INCOME> (850,536)
<REALIZED-GAINS-CURRENT> 10,077,576
<APPREC-INCREASE-CURRENT> 35,037,088
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,183)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 143,887
<NUMBER-OF-SHARES-REDEEMED> (23,414)
<SHARES-REINVESTED> 307
<NET-CHANGE-IN-ASSETS> 70,712,267
<ACCUMULATED-NII-PRIOR> 704,491
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (36,945,910)
<GROSS-ADVISORY-FEES> 664,524
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,470,205
<AVERAGE-NET-ASSETS> 627,142
<PER-SHARE-NAV-BEGIN> 9.35
<PER-SHARE-NII> (0.09)
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<PER-SHARE-DIVIDEND> (0.08)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.97
<EXPENSE-RATIO> 1.31
[AVG-DEBT-OUTSTANDING] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Emerging Markets Fund
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-END> FEB-29-2000
<INVESTMENTS-AT-COST> 125,563,982
<INVESTMENTS-AT-VALUE> 180,688,323
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 153,763,868
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<SHARES-COMMON-PRIOR> 411,112
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (853,659)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (26,868,334)
<ACCUM-APPREC-OR-DEPREC> 54,075,815
<NET-ASSETS> 180,117,690
<DIVIDEND-INCOME> 566,652
<INTEREST-INCOME> 47,443
<OTHER-INCOME> 0
<EXPENSES-NET> 1,464,631
<NET-INVESTMENT-INCOME> (850,536)
<REALIZED-GAINS-CURRENT> 10,077,576
<APPREC-INCREASE-CURRENT> 35,037,088
<NET-CHANGE-FROM-OPS> 44,264,128
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,995)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 132,830
<NUMBER-OF-SHARES-REDEEMED> (102,675)
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<NET-CHANGE-IN-ASSETS> 70,712,267
<ACCUMULATED-NII-PRIOR> 704,491
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (36,945,910)
<GROSS-ADVISORY-FEES> 664,524
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,470,205
<AVERAGE-NET-ASSETS> 4,549,547
<PER-SHARE-NAV-BEGIN> 9.29
<PER-SHARE-NII> (0.08)
<PER-SHARE-GAIN-APPREC> 3.77
<PER-SHARE-DIVIDEND> (0.04)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.94
<EXPENSE-RATIO> 1.19
[AVG-DEBT-OUTSTANDING] 0
</TABLE>
