WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Balanced Fund
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> Annual
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 122,445,660
<INVESTMENTS-AT-VALUE> 125,339,631
<RECEIVABLES> 2,950,083
<ASSETS-OTHER> 545
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 128,290,259
<PAYABLE-FOR-SECURITIES> 2,436,607
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 304,565
<TOTAL-LIABILITIES> 2,741,172
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 121,862,419
<SHARES-COMMON-STOCK> 64,325
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 193,195
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 444,106
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,049,367
<NET-ASSETS> 125,549,087
<DIVIDEND-INCOME> 42,254
<INTEREST-INCOME> 865,820
<OTHER-INCOME> 0
<EXPENSES-NET> 298,564
<NET-INVESTMENT-INCOME> 609,510
<REALIZED-GAINS-CURRENT> 478,510
<APPREC-INCREASE-CURRENT> 2,528,004
<NET-CHANGE-FROM-OPS> 3,616,024
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,222)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 74,279
<NUMBER-OF-SHARES-REDEEMED> (10,091)
<SHARES-REINVESTED> 137
<NET-CHANGE-IN-ASSETS> 121,582,527
<ACCUMULATED-NII-PRIOR> 57,862
<ACCUMULATED-GAINS-PRIOR> 425,203
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 103,908
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 314,283
<AVERAGE-NET-ASSETS> 283,115
<PER-SHARE-NAV-BEGIN> 14.27
<PER-SHARE-NII> .07
<PER-SHARE-GAIN-APPREC> .01
<PER-SHARE-DIVIDEND> (.07)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.28
<EXPENSE-RATIO> .88
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
