0000928816-24-000004.txt : 20240102 0000928816-24-000004.hdr.sgml : 20240102 20240102080920 ACCESSION NUMBER: 0000928816-24-000004 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240102 DATE AS OF CHANGE: 20240102 EFFECTIVENESS DATE: 20240102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000711402 ORGANIZATION NAME: IRS NUMBER: 042786284 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-81011 FILM NUMBER: 24500320 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921562 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST DATE OF NAME CHANGE: 19941214 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM NEW YORK TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000719712 ORGANIZATION NAME: IRS NUMBER: 042794490 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-83909 FILM NUMBER: 24500329 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM NEW YORK TAX EXEMPT INCOME TRUST DATE OF NAME CHANGE: 19940603 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM NEW YORK TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MORTGAGE SECURITIES FUND CENTRAL INDEX KEY: 0000732337 ORGANIZATION NAME: IRS NUMBER: 042811119 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-87634 FILM NUMBER: 24500331 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM U S GOVERNMENT INCOME TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM U S GOVERNMENT GUARANTEED SECURITIES INCOME TRUST DATE OF NAME CHANGE: 19910102 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM UNITED STATES GOVERNMENT SECURITIES INCOME FUND DATE OF NAME CHANGE: 19840806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM TAX FREE INCOME TRUST CENTRAL INDEX KEY: 0000771951 ORGANIZATION NAME: IRS NUMBER: 046483374 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-98790 FILM NUMBER: 24500322 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM TAX FREE INCOME TRUST /MA/ DATE OF NAME CHANGE: 19920902 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM TAX FREE INCOME TRUST DATE OF NAME CHANGE: 19920101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/ CENTRAL INDEX KEY: 0000792288 ORGANIZATION NAME: IRS NUMBER: 046626127 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-05416 FILM NUMBER: 24500333 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND II DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND /MA/ DATE OF NAME CHANGE: 19920609 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MINNESOTA TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000794612 ORGANIZATION NAME: IRS NUMBER: 046626128 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-08916 FILM NUMBER: 24500332 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MINNESOTA TAX EXEMPT INCOME FUND/MA DATE OF NAME CHANGE: 20080729 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MINNESOTA TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920609 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Putnam ETF Trust CENTRAL INDEX KEY: 0001845809 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-253222 FILM NUMBER: 24500324 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02111 BUSINESS PHONE: 6177601060 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000794615 ORGANIZATION NAME: IRS NUMBER: 043057637 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-28321 FILM NUMBER: 24500327 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM OHIO TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000794616 ORGANIZATION NAME: IRS NUMBER: 046626129 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-08924 FILM NUMBER: 24500328 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 617-292-1000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM OHIO TAX EXEMPT INCOME FUND/MA DATE OF NAME CHANGE: 20080729 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM OHIO TAX EXEMPT INCOME FUND II DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM OHIO TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920609 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM DIVERSIFIED INCOME TRUST CENTRAL INDEX KEY: 0000836622 ORGANIZATION NAME: IRS NUMBER: 043017475 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-23623 FILM NUMBER: 24500335 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6177601000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000857463 ORGANIZATION NAME: IRS NUMBER: 043073948 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-32550 FILM NUMBER: 24500330 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM ASSET ALLOCATION FUNDS CENTRAL INDEX KEY: 0000914209 ORGANIZATION NAME: IRS NUMBER: 046746612 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-51017 FILM NUMBER: 24500325 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6177601000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM LIFE STAGES ASSET ALLOCATION TRUST DATE OF NAME CHANGE: 19931027 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM FUNDS TRUST CENTRAL INDEX KEY: 0001005942 ORGANIZATION NAME: IRS NUMBER: 043299786 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-00515 FILM NUMBER: 24500323 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6177601000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Putnam Target Date Funds CENTRAL INDEX KEY: 0001295293 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-117134 FILM NUMBER: 24500321 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: Putnam RetirementReady Funds DATE OF NAME CHANGE: 20040624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000205802 ORGANIZATION NAME: IRS NUMBER: 046396109 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-57165 FILM NUMBER: 24500326 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM GLOBAL INCOME TRUST CENTRAL INDEX KEY: 0000794614 ORGANIZATION NAME: IRS NUMBER: 046549525 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-07232 FILM NUMBER: 24500334 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GOVERNMENT INCOME GLOBAL TRUST DATE OF NAME CHANGE: 19870225 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GLOBAL GOVERNMENT INCOME TRUST DATE OF NAME CHANGE: 19870115 0000205802 S000006568 PUTNAM TAX EXEMPT INCOME FUND C000017917 Class C Shares C000017918 Class A Shares PTAEX C000017919 Class B Shares PTBEX C000060417 CLASS Y C000202806 Class R6 Shares 0000711402 S000005498 PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST C000014969 Class A Shares PCTEX C000014970 Class B Shares PCTBX C000014971 Class C Shares PCTCX C000060520 CLASS Y C000202778 Class R6 Shares 0000719712 S000006345 PUTNAM NEW YORK TAX EXEMPT INCOME FUND C000017441 Class C Shares C000017443 Class A Shares PTEIX C000017444 Class B Shares PEIBX C000060413 CLASS Y C000202782 Class R6 Shares 0000732337 S000006570 PUTNAM MORTGAGE SECURITIES FUND C000017922 Class A Shares PGSIX C000017923 Class B Shares PGSBX C000017924 Class C Shares PGVCX C000017926 Class R Shares PGVRX C000017927 Class Y Shares PUSYX C000200295 Class R6 Shares 0000771951 S000003860 Putnam Strategic Intermediate Municipal Fund C000010817 Class C Shares C000010819 Class A Shares PPNAX C000010820 Class B Shares PTFIX C000060535 CLASS Y C000202840 Class R6 Shares 0000771951 S000003861 Putnam Tax-Free High Yield Fund C000010821 Class C Shares C000010822 Class A Shares PTHAX C000010823 Class B Shares PTHYX C000060536 CLASS Y C000202841 Class R6 Shares 0000792288 S000006210 PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND C000017118 Class C Shares C000017120 Class A Shares PXMAX C000017121 Class B Shares PMABX C000060571 CLASS Y C000202927 Class R6 Shares 0000794612 S000006218 PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II C000017144 Class A Shares PXMNX C000017145 Class B Shares PMTBX C000039836 Class C Shares C000060573 CLASS Y C000202929 Class R6 Shares 0000794614 S000005653 PUTNAM GLOBAL INCOME TRUST C000015446 Class C Shares C000015447 Class Y Shares C000015448 Class A Shares PGGIX C000015449 Class B Shares PGLBX C000015451 Class R Shares PGBRX C000118067 Class R5 C000118068 Class R6 0000794615 S000006567 PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND C000017915 Class A Shares PTEPX C000017916 Class B Shares PPNBX C000039842 Class C Shares C000060576 CLASS Y C000202936 Class R6 Shares 0000794616 S000006390 PUTNAM OHIO TAX EXEMPT INCOME FUND II C000017547 Class A Shares PXOHX C000017548 Class B Shares POXBX C000039840 Class C Shares C000060574 CLASS Y C000202934 Class R6 Shares 0000836622 S000005529 PUTNAM DIVERSIFIED INCOME TRUST C000015036 Class A Shares PDINX C000015037 Class B Shares PSIBX C000015038 Class C Shares PDVCX C000015039 Class M Shares PDVMX C000015040 Class R Shares PDVRX C000015041 Class Y Shares PDVYX C000135951 Class R6 0000857463 S000006252 PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND C000017198 Class A Shares PTNJX C000017199 Class B Shares PNJBX C000039838 Class C Shares C000060575 CLASS Y C000202931 Class R6 Shares 0000914209 S000000779 Putnam Dynamic Asset Allocation Conservative Fund C000002313 Class A shares PACAX C000002314 Class B shares PACBX C000002315 Class C shares PACCX C000002317 Class R shares PACRX C000002318 Class Y shares PACYX C000117947 Class R5 C000117948 Class R6 C000174662 Class P Shares 0001005942 S000000773 Putnam Floating Rate Income Fund C000002278 Class B shares C000002279 Class C shares C000002281 Class R shares C000002282 Class Y shares C000002283 Class A shares PFLRX C000203062 Class R6 Shares 0001005942 S000000775 Putnam International Value Fund C000002290 Class Y shares C000002291 Class A shares PNGAX C000002292 Class B shares PGNBX C000002293 Class C shares PIGRX C000002295 Class R shares PIIRX C000136806 Class R6 0001005942 S000000777 Putnam Small Cap Growth Fund C000002301 Class C shares C000002302 Class Y shares C000002303 Class A shares PNSAX C000002304 Class B shares PNSBX C000002306 Class R shares PSGRX C000158897 Class R6 Shares 0001005942 S000024246 Putnam Focused Equity Fund C000071529 Class A C000071530 Class B C000071531 Class C C000071533 Class R C000071534 Class Y C000203064 Class R6 Shares 0001005942 S000024247 Putnam Global Technology Fund C000071535 Class A C000071537 Class C C000071539 Class R C000071540 Class Y C000203065 Class R6 Shares 0001005942 S000024274 Putnam Short Duration Bond Fund C000071705 Class A C000071706 Class B C000071707 Class C C000071709 Class R C000071710 Class Y C000118004 Class R6 0001005942 S000024275 Putnam Core Bond Fund C000071712 Class R C000071713 Class Y C000071714 Class A C000071715 Class B C000071716 Class C C000118006 Class R6 C000174702 Class P Shares 0001005942 S000039833 Putnam Short-Term Municipal Income Fund C000123516 CLASS A C000123518 CLASS C C000123520 CLASS Y C000202822 Class R6 Shares 0001005942 S000039834 Putnam Intermediate-Term Municipal Income Fund C000123521 CLASS Y C000123522 CLASS A C000123523 CLASS B C000123524 CLASS C C000202823 Class R6 Shares 0001295293 S000003995 Putnam Sustainable Retirement 2050 Fund C000011141 Class A Shares C000011142 Class B Shares C000011143 Class C Shares C000011145 Class R Shares C000011146 Class Y Shares C000174674 Class R6 Shares C000222431 Class R4 Shares C000222432 Class R5 Shares C000222433 Class R3 Shares 0001295293 S000003997 Putnam Sustainable Retirement 2045 Fund C000011153 Class A Shares C000011154 Class B Shares C000011155 Class C Shares C000011157 Class R Shares C000011158 Class Y Shares C000174676 Class R6 Shares C000222437 Class R4 Shares C000222438 Class R3 Shares C000222439 Class R5 Shares 0001295293 S000003998 Putnam Sustainable Retirement 2040 Fund C000011159 Class A Shares C000011160 Class B Shares C000011161 Class C Shares C000011163 Class R Shares C000011164 Class Y Shares C000174677 Class R6 Shares C000222440 Class R4 Shares C000222441 Class R3 Shares C000222442 Class R5 Shares 0001295293 S000003999 Putnam Sustainable Retirement 2035 Fund C000011165 Class A Shares C000011166 Class B Shares C000011167 Class C Shares C000011169 Class R Shares C000011170 Class Y Shares C000174678 Class R6 Shares C000222443 Class R4 Shares C000222444 Class R5 Shares C000222445 Class R3 Shares 0001295293 S000004000 Putnam Sustainable Retirement 2030 Fund C000011171 Class A Shares C000011172 Class B Shares C000011173 Class C Shares C000011175 Class R Shares C000011176 Class Y Shares C000174679 Class R6 Shares C000222446 Class R3 Shares C000222447 Class R4 Shares C000222448 Class R5 Shares 0001295293 S000004001 Putnam Sustainable Retirement 2025 Fund C000011177 Class A Shares C000011178 Class B Shares C000011179 Class C Shares C000011181 Class R Shares C000011182 Class Y Shares C000174680 Class R6 Shares C000222449 Class R3 Shares C000222450 Class R4 Shares C000222451 Class R5 Shares 0001295293 S000030470 Putnam Sustainable Retirement 2055 Fund C000093618 Class A C000093619 Class B C000093620 Class C C000093622 Class R C000093623 Class Y C000174682 Class R6 Shares C000222455 Class R5 Shares C000222456 Class R4 Shares C000222457 Class R3 Shares 0001295293 S000051718 Putnam Sustainable Retirement 2060 Fund C000162753 Class A Shares C000162754 Class B Shares C000162755 Class C Shares C000162757 Class R Shares C000162758 Class Y Shares C000174683 Class R6 Shares C000222458 Class R5 Shares C000222459 Class R4 Shares C000222460 Class R3 Shares 0001295293 S000067464 Putnam Retirement Advantage 2025 Fund C000216897 Class Y Shares PLZYX C000216898 Class R6 Shares PBATX C000216899 Class R Shares PRTWX C000216900 Class C Shares PRTJX C000216902 Class A Shares PBDLX C000221978 Class R4 Shares PAFKX C000221979 Class R5 Shares PAFNX C000221980 Class R3 Shares PAFLX 0001295293 S000067465 Putnam Retirement Advantage Maturity Fund C000216903 Class A Shares POMGX C000216905 Class C Shares PLFGX C000216906 Class R Shares PAKYX C000216907 Class Y Shares PAETX C000216908 Class R6 Shares PADLX C000221981 Class R3 Shares PAHMX C000221982 Class R4 Shares PAHNX C000221983 Class R5 Shares PAHOX 0001295293 S000067468 Putnam Retirement Advantage 2040 Fund C000216922 Class C Shares PBBZX C000216923 Class R Shares PBAOX C000216924 Class R6 Shares PBAMX C000216925 Class Y Shares PALZX C000216926 Class A Shares PCCLX C000221990 Class R3 Shares PAGKX C000221991 Class R4 Shares PAGJX C000221992 Class R5 Shares PAGOX 0001295293 S000067469 Putnam Retirement Advantage 2045 Fund C000216927 Class Y Shares PAFJX C000216928 Class R6 Shares PAFMX C000216929 Class R Shares PAFZX C000216930 Class C Shares PAFPX C000216932 Class A Shares PALGX C000221993 Class R4 Shares PAGUX C000221994 Class R3 Shares PAGQX C000221995 Class R5 Shares PAGWX 0001295293 S000067470 Putnam Retirement Advantage 2050 Fund C000216933 Class A Shares PAEZX C000216935 Class C Shares PAENX C000216936 Class R Shares PAEQX C000216937 Class Y Shares PHPDX C000216938 Class R6 Shares PAEKX C000221996 Class R3 Shares PAGZX C000221997 Class R4 Shares PAHAX C000221998 Class R5 Shares PAHDX 0001295293 S000067471 Putnam Retirement Advantage 2055 Fund C000216939 Class A Shares PADYX C000216941 Class C Shares PACWX C000216942 Class R Shares PACSX C000216943 Class R6 Shares PACJX C000216944 Class Y Shares PAAWX C000221999 Class R3 Shares PAHEX C000222000 Class R4 Shares PAHFX C000222001 Class R5 Shares PAHGX 0001295293 S000067472 Putnam Retirement Advantage 2060 Fund C000216945 Class A Shares PAAVX C000216947 Class C Shares PAAPX C000216948 Class R Shares PAAMX C000216949 Class Y Shares PAKJX C000216950 Class R6 Shares PAAKX C000222002 Class R3 Shares PAHJX C000222003 Class R5 Shares PAHLX C000222004 Class R4 Shares PAHKX 0001845809 S000071710 Putnam Focused Large Cap Value ETF C000227196 - 497 1 a_multisupp335641.htm PUTNAM FUNDS

Prospectus and

Statement of Additional Information Supplement  

 January 1, 2024

 

Putnam California Tax Exempt Income Fund

Putnam Core Bond Fund

Putnam Diversified Income Trust

Putnam Dynamic Asset Allocation Conservative Fund

Putnam Floating Rate Income Fund

Putnam Focused Equity Fund

Putnam Focused Large Cap Value ETF

Putnam Global Income Trust

Putnam Global Technology Fund

Putnam Intermediate-Term Municipal Income Fund

Putnam International Value Fund

Putnam Massachusetts Tax Exempt Income Fund

Putnam Minnesota Tax Exempt Income Fund

Putnam Mortgage Securities Fund

Putnam New Jersey Tax Exempt Income Fund

Putnam New York Tax Exempt Income Fund

Putnam Ohio Tax Exempt Income Fund

Putnam Pennsylvania Tax Exempt Income Fund

Putnam Retirement Advantage 2025 Fund

Putnam Retirement Advantage 2040 Fund

Putnam Retirement Advantage 2045 Fund

Putnam Retirement Advantage 2050 Fund

Putnam Retirement Advantage 2055 Fund

Putnam Retirement Advantage 2060 Fund

Putnam Retirement Advantage Maturity Fund

Putnam Short Duration Bond Fund

Putnam Short-Term Municipal Income Fund

Putnam Small Cap Growth Fund

Putnam Strategic Intermediate Municipal Fund

Putnam Sustainable Retirement 2025 Fund

Putnam Sustainable Retirement 2030 Fund

Putnam Sustainable Retirement 2035 Fund

Putnam Sustainable Retirement 2040 Fund

Putnam Sustainable Retirement 2045 Fund

Putnam Sustainable Retirement 2050 Fund

Putnam Sustainable Retirement 2055 Fund

Putnam Sustainable Retirement 2060 Fund

Putnam Tax Exempt Income Fund

Putnam Tax-Free High Yield Fund

 

On January 1, 2024 (the “Effective Date”), a subsidiary of Franklin Resources, Inc. (“Franklin Resources”) acquired Putnam U.S. Holdings I, LLC (“Putnam Holdings”) in a stock and cash transaction (the “Transaction”). As a result of the Transaction, Putnam Investment Management, LLC (“Putnam Management”), a wholly-owned subsidiary of Putnam Holdings and the investment manager to the Putnam family of funds (the “Putnam Funds”), Putnam Investments Limited (“PIL”), an indirect, wholly-owned subsidiary of Putnam Holdings and a sub-adviser to certain of the Putnam Funds, and The Putnam Advisory Company, LLC (“PAC”), an indirect, wholly-owned subsidiary of Putnam Holdings and a sub-adviser to certain of the Putnam Funds, became indirect, wholly-owned subsidiaries of Franklin Resources.

Franklin Resources, whose principal executive offices are at One Franklin Parkway, San Mateo, California 94403, is a global investment management organization operating, together with its subsidiaries, as Franklin Templeton. As of November 30, 2023, after giving effect to the Transaction, Franklin Templeton’s asset management operations had aggregate assets under management of approximately $1.546 trillion. As a result of the Transaction, Putnam Management, PIL, and PAC will be able to draw on the broader investment resources, including portfolio management, investment research, trading expertise and other capabilities, of Franklin Templeton to the benefit of the Putnam Funds.

Under the Investment Company Act of 1940, as amended (the “1940 Act”), the Transaction resulted in the automatic termination of the investment management contract between each Putnam Fund and Putnam Management and any related sub-advisory contracts that were in place for each Putnam Fund before the Transaction. Shareholder meetings for each Putnam Fund have been called to approve new investment management and sub-advisory contracts. In the meantime, Putnam Management and, where applicable, the Putnam Funds’ sub-adviser(s) continue to provide uninterrupted services with respect to the Putnam Funds

335641 1/24

 
 

listed above pursuant to interim investment management and sub-advisory contracts (together, the “Interim Advisory Contracts”) that were approved by the Board of Trustees for use while the Putnam Funds continue to seek shareholder approval of new investment management and sub-advisory contracts.

The terms of the Interim Advisory Contracts are identical to those of the investment management and sub-advisory contracts (where applicable) for the above-listed Putnam Funds that were in place prior to consummation of the Transaction, except for the term of the contracts and those provisions required by regulation, including the escrow provision described below. Each Interim Advisory Contract took effect upon the consummation of the Transaction on the Effective Date and will continue in effect for a term ending on the earlier of 150 days from the Effective Date (the “150-day period”) or, if shareholders of a fund approve new investment management and sub-advisory contracts (where applicable) with respect to the fund, the effective date of the new contracts. The Board of Trustees or a “majority of the outstanding voting securities,” as defined in the 1940 Act, may terminate an Interim Advisory Contract on 10 calendar days’ written notice without the payment of any penalty. Pursuant to Rule 15a-4 under the 1940 Act, compensation earned under the Interim Advisory Contracts will be held in an interest-bearing escrow account. If shareholders of a fund approve new investment management and sub-advisory contracts (where applicable) with respect to the fund before the end of the 150-day period, the amount held in the escrow account under the Interim Advisory Contracts, plus interest earned, will be paid to Putnam Management and any applicable sub-adviser. If shareholders of a fund do not approve new investment management and sub-advisory contracts (where applicable) with respect to the fund before the end of the 150-day period, the Board of Trustees will consider what further action to take consistent with their fiduciary duties to the fund, and Putnam Management (and any applicable sub-adviser) will be paid the lesser of its costs incurred in performing services under the Interim Advisory Contracts or the total amount of the escrow account, plus interest earned.

The Prospectus and Statement of Additional Information for each of the Putnam Funds listed above are amended to reflect the foregoing.

 
 

 

Prospectus

For each Putnam Fund that offers Class Y shares, the following disclosure replaces and supersedes the corresponding bullet point under “The following investors may purchase class Y shares if approved by Putnam” in the “Here is a summary of the differences among the classes of shares” section:

- current and retired employees of Putnam or an affiliate (including affiliates of Franklin Templeton) and their immediate family members (including an employee’s spouse, domestic partner, fiancé(e), or other family members who are living in the same household) as well as, in each case, Putnam-offered health savings accounts, IRAs, and other similar tax-advantaged plans solely owned by the foregoing individuals;

- current directors of Putnam Investments, LLC who commenced service prior to January 1, 2024 and retired directors of Putnam Investments, LLC who served prior to January 1, 2024, regardless of when they retired;

- current employees of Empower Life & Annuity Insurance Company who began their employment prior to January 1, 2024 and retired employees of Empower Life & Annuity Insurance Company who were employees prior to January 1, 2024, regardless of when they retired; and current and retired Trustees of the fund. Upon the departure of any member of this group of individuals from Putnam, Empower Life & Annuity Insurance Company, or the fund’s Board of Trustees, the member’s class Y shares convert automatically to class A shares, unless the member’s departure is a retirement, as determined by Putnam in its discretion for employees and directors of Putnam and employees of Empower Life & Annuity Insurance Company and by the Board of Trustees in its discretion for Trustees; provided that conversion will not take place with respect to class Y shares held by former Putnam employees and their immediate family members in health savings accounts where it is not operationally practicable due to platform or other limitations; and

For each Putnam Fund that offers Class A shares, the following disclosure replaces and supersedes the corresponding bullet point under “Class A shares” in the “Additional reductions and waivers of sales charges” sub-section in the “Here is a summary of the differences among the classes of shares” section:

(i)current and former Trustees of the fund, their family members, business and personal associates; current and former employees of Putnam Management, certain current corporate affiliates (including affiliates of Franklin Templeton), and certain former corporate affiliates, their family members, business and personal associates; employer-sponsored retirement plans for the foregoing; and partnerships, trusts or other entities in which any of the foregoing has a substantial interest;
 
 

 

Statement of Additional Information

The following disclosure replaces and supersedes the corresponding information in the footnote to the table in the sub-section “Trustee responsibilities and fees” in the section “CHARGES AND EXPENSES”:

** Trustee who is an “interested person” (as defined in the 1940 Act) of the fund and Putnam Management. Mr. Reynolds is deemed an “interested person” by virtue of his position as an officer of the fund and his direct beneficial interest in shares of Franklin Resources, of which Putnam Management is an indirect wholly-owned subsidiary. Mr. Reynolds is the President of your fund and each of the other Putnam funds, and prior to January 1, 2024, Mr. Reynolds was President and Chief Executive Officer of Putnam Management and Putnam Investments, LLC, the previous parent company to Putnam Management, PIL, and PAC.

The sub-section “Putnam Management and its Affiliates” in the section “MANAGEMENT” is deleted in its entirety and replaced with the following:

Putnam Management and its Affiliates

Putnam Management is one of America’s oldest money management firms. Putnam Management’s staff of experienced portfolio managers and research analysts selects securities and supervises the fund’s portfolio on an ongoing basis. By pooling an investor’s money with that of other investors, a greater variety of securities can be purchased than would be the case individually; the resulting diversification helps reduce investment risk. Putnam Management has been managing mutual funds since 1937.

Putnam Management is an indirect, wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”), a Delaware corporation. Franklin Resources, whose principal executive offices are at One Franklin Parkway, San Mateo, California 94403, is a global investment management organization operating, together with its subsidiaries, as Franklin Templeton. As of November 30, 2023, after giving effect to the Transaction, Franklin Templeton’s asset management operations had aggregate assets under management of approximately $1.546 trillion.

Certain employees and officers of Franklin Resources and its subsidiaries who engage in investment advisory services may be appointed to serve as officers and/or authorized persons of Putnam Management and/or PAC and, in that capacity, may provide investment research, investment recommendations and other services to Putnam Management and/or PAC from time to time.

Trustees and officers of the fund who are also officers of Putnam Management or its affiliates or who are stockholders of Franklin Resources or its affiliates will benefit from the advisory fees, sales commissions, distribution fees and transfer agency fees paid or allowed by the fund.

The table in the sub-section “Trustees” in the section “MANAGEMENT” is deleted in its entirety and replaced with the following:

 
 

 

Name, Address1, Year of Birth, Position(s) Held with Fund and Length of Service as a Putnam Fund Trustee2 Principal Occupation(s) During Past 5 Years Number of Funds in the Putnam Funds Complex Overseen by Trustee3 Other Directorships Held by Trustee
Liaquat Ahamed (Born 1952), Trustee since 2012 Author; won Pulitzer Prize for Lords of Finance: The Bankers Who Broke the World. 105 Chair of the Sun Valley Writers Conference, a literary not-for-profit organization; and a Trustee of the Journal of Philosophy.  
Barbara M. Baumann (Born 1955), Trustee since 2010, Vice Chair since 2022 President of Cross Creek Energy Corporation, a strategic consultant to domestic energy firms and direct investor in energy projects. 105 Director of Devon Energy Corporation, a publicly traded independent natural gas and oil exploration and production company; Director of National Fuel Gas Company, a publicly traded energy company that engages in the production, gathering, transportation, distribution and marketing of natural gas; Senior Advisor to the energy private equity firm First Reserve; member of the Finance Committee of the Children’s Hospital of Colorado; member of the Investment Committee of the Board of The Denver Foundation; and previously a Director of publicly traded companies Buckeye Partners LP, UNS Energy Corporation, CVR Energy Company, and SM Energy Corporation.
Katinka Domotorffy (Born 1975), Trustee since 2012 Voting member of the Investment Committees of the Anne Ray Foundation and Margaret A. Cargill Foundation, part of the Margaret A. Cargill Philanthropies. 105 Director of the Great Lakes Science Center and of College Now Greater Cleveland.

Catharine Bond Hill (Born 1954), Trustee since 2017

 

Managing Director of Ithaka S+R, a not-for-profit service that helps the academic community navigate economic and technological change.

From 2006 to 2016, Dr. Hill served as the 10th president of Vassar College.

 105 Director of Yale-NUS College; and Trustee of Yale University.
 
 

 

Name, Address1, Year of Birth, Position(s) Held with Fund and Length of Service as a Putnam Fund Trustee2 Principal Occupation(s) During Past 5 Years Number of Funds in the Putnam Funds Complex Overseen by Trustee3 Other Directorships Held by Trustee
Kenneth R. Leibler (Born 1949), Trustee since 2006, Vice Chair from 2016 to 2018,Chair since 2018 Vice Chair Emeritus of the Board of Trustees of Beth Israel Deaconess Hospital in Boston.  Member of the Investment Committee of the Boston Arts Academy Foundation. 105 Director of Eversource Corporation, which operates New England’s largest energy delivery system; previously the Chairman of the Boston Options Exchange, an electronic marketplace for the trading of listed derivatives securities; previously the Chairman and Chief Executive Officer of the Boston Stock Exchange; and previously the President and Chief Operating Officer of the American Stock Exchange.
 
 

 

Name, Address1, Year of Birth, Position(s) Held with Fund and Length of Service as a Putnam Fund Trustee2 Principal Occupation(s) During Past 5 Years Number of Funds in the Putnam Funds Complex Overseen by Trustee3 Other Directorships Held by Trustee

*Jennifer Williams Murphy (Born 1964), Trustee since 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Chief Executive Officer and Founder of Runa Digital Assets, LLC, an institutional investment advisory firm specializing in active management of digital assets. Until 2021, Chief Operating Officer of Western Asset Management, LLC, a global investment adviser, and Chief Executive Officer and President of Western Asset Mortgage Capital Corporation, a mortgage finance real estate investment trust. 105 Previously, a Director of Western Asset Mortgage Capital Corporation.
 
 

 

Name, Address1, Year of Birth, Position(s) Held with Fund and Length of Service as a Putnam Fund Trustee2 Principal Occupation(s) During Past 5 Years Number of Funds in the Putnam Funds Complex Overseen by Trustee3 Other Directorships Held by Trustee
Marie Pillai (Born 1954), Trustee since 2022 Senior Advisor, Hunter Street Partners, LP, an asset-oriented private investment firm; Specialty Leader and Member of the Curriculum Committee of the Center for Board Certified Fiduciaries, a public benefit corporation providing coursework for developing fiduciaries. Until 2019, Vice President, Chief Investment Officer and Treasurer of General Mills, Inc., a global food company. 105 Member of the Investment Committee of the Bush Foundation, a non-profit organization supporting community problem-solving in Minnesota, North Dakota and South Dakota; Member of the Finance Council and Corporate Board of the Archdiocese of Saint Paul and Minneapolis; Director of Choice Bank, a private, community bank based in North Dakota; previously a Board Member of Catholic Charities of St. Paul and Minneapolis; former Director of the Catholic Community Foundation of Minnesota; and former Investment Advisory Board Member of the University of Minnesota.
George Putnam III (Born 1951), Trustee since 1984 Chair of New Generation Research, Inc., a publisher of financial advisory and other research services, and President of New Generation Advisors, LLC, a registered investment adviser to private funds. 105

Director of The Boston Family Office, LLC, a registered investment adviser; a Director of the Gloucester Marine Genomics Institute; a Trustee of the Lowell Observatory Foundation; and previously a Trustee of the Marine Biological Laboratory.

 

Manoj P. Singh (Born 1952),

Trustee since 2017

 Until 2015, Chief Operating Officer and Global Managing Director at Deloitte Touche Tohmatsu, Ltd., a global professional services organization, serving on the Deloitte U.S. Board of Directors and the boards of Deloitte member firms in China, Mexico and Southeast Asia. 105 Director of ReNew Energy Global Plc, a publicly traded renewable energy company; Director of Abt Associates, a global research firm working in the fields of health, social and environmental policy, and international development; Trustee of Carnegie Mellon University; Director of Pratham USA, an organization dedicated to children’s education in India; member of the advisory board of Altimetrik, a business transformation and technology solutions firm; and Director of DXC Technology, a global IT services and consulting company.
 
 

 

Name, Address1, Year of Birth, Position(s) Held with Fund and Length of Service as a Putnam Fund Trustee2 Principal Occupation(s) During Past 5 Years Number of Funds in the Putnam Funds Complex Overseen by Trustee3 Other Directorships Held by Trustee
Mona K. Sutphen (Born 1967), Trustee since 2020 Partner, Investment Strategies at The Vistria Group, a private investment firm focused on middle-market companies in the healthcare, education, and financial services industries. From 2014 to 2018, Partner at Macro Advisory Partners, a global consulting firm. 105 Director of Spotify Technology S.A., a publicly traded audio content streaming service; Director of Unitek Learning, a private nursing and medical services education provider in the United States; Board Member, International Rescue Committee; Co-Chair of the Board of Human Rights First; Trustee of Mount Holyoke College; member of the Advisory Board for the Center on Global Energy Policy at Columbia University’s School of International and Public Affairs; previously Director of Pattern Energy and Pioneer Natural Resources, publicly traded energy companies; and previously Managing Director of UBS AG.
 
 

 

Name, Address1, Year of Birth, Position(s) Held with Fund and Length of Service as a Putnam Fund Trustee2 Principal Occupation(s) During Past 5 Years Number of Funds in the Putnam Funds Complex Overseen by Trustee3 Other Directorships Held by Trustee
       
Interested Trustees      
**Robert L. Reynolds (Born 1952), Trustee since 2008 Chair of Great-West Lifeco U.S. LLC. Prior to 2019, also President and Chief Executive Officer of Great-West Financial, a financial services company that provides retirement savings plans, life insurance, and annuity and executive benefits products, and of Great-West Lifeco U.S. LLC, a holding company that owns Putnam Investments and Great-West Financial, and a member of Great-West Financial’s Board of Directors. Until 2023, President and Chief Executive Officer of Putnam Investments, President and Chief Executive Officer of Putnam Management, and member of Putnam Investments’ Board of Directors. 105 Director of the Concord Museum; Director of Dana-Farber Cancer Institute; Director of the U.S. Ski & Snowboard Foundation; Chair of the Boston Advisory Board of the American Ireland Fund; Council Co-Chair of the American Enterprise Institute; Member of U.S. Chamber of Commerce, Center for Capital Markets Competitiveness; Chair of Massachusetts High Technology Council; Member of the Chief Executives Club of Boston; Member of the Massachusetts General Hospital President’s Council; Chairman of the Board of Directors of the Ron Burton Training Village; Director and former Chair of the Massachusetts Competitive Partnership; former Chair of the West Virginia University Foundation; and former Executive Committee Member of the Greater Boston Chamber of Commerce.

 

1 The address of each Trustee is 100 Federal Street, Boston, MA 02110.

 

2 Each Trustee serves for an indefinite term, until his or her resignation, retirement during the year he or she reaches age 75, death or removal.

 

3 The Putnam funds complex is composed of the Putnam mutual funds, closed-end funds, and exchange-traded funds. As of December 31, 2023, there were 89 mutual funds, 4 closed-end funds and 12 exchange-traded funds. Each Trustee listed in the table above serves as Trustee of each fund in the Putnam funds complex.

 

* Ms. Murphy is the founder, controlling member, and Chief Executive Officer of Runa Digital Assets, LLC (“RDA”), the investment manager of Runa Digital Partners, LP (“RDP”), a private investment fund. Ms. Murphy also holds a controlling interest in RDP’s general partner and is a limited partner in RDP. A subsidiary of Franklin Templeton and certain individuals employed by Franklin Templeton or its affiliates have made passive investments as limited partners in RDP (one of whom serves on the advisory board for RDA, which has no

 
 

governance or oversight authority over RDA), representing in the aggregate approximately 33% of RDP as of October 31, 2023. In addition, if certain conditions are met, Franklin Templeton will be entitled to receive a portion of any incentive compensation allocable to RDP’s general partner. For so long as Franklin Templeton maintains its investment in RDP, Ms. Murphy also has agreed upon request to advise and consult with Franklin Templeton and its affiliates on the market for digital assets. Ms. Murphy provides similar service to other limited partners in RDP that request her advice. Ms. Murphy also is entitled to receive deferred cash compensation in connection with her prior employment by an affiliate of Franklin Templeton, which employment ended at the end of 2021. With regard to Ms. Murphy, the relationships described above may give rise to a potential conflict of interest with respect to the Funds.

 

** Trustee who is an “interested person” (as defined in the 1940 Act) of the fund and Putnam Management. Mr. Reynolds is deemed an “interested person” by virtue of his position as an officer of the fund and his direct beneficial interest in shares of Franklin Resources, of which Putnam Management is an indirect wholly-owned subsidiary. Mr. Reynolds is the President of your fund and each of the other Putnam funds, and prior to January 1, 2024, Mr. Reynolds was President and Chief Executive Officer of Putnam Management and Putnam Investments, LLC, the previous parent company to Putnam Management, PIL, and PAC.

 

The “Interested Trustee” portion of the sub-section “Trustee Qualifications” in the section “MANAGEMENT” is deleted in its entirety and replaced with the following:

Interested Trustee

Robert L. Reynolds -- Mr. Reynolds’s extensive experience as a senior executive of a major mutual fund organization in the United States and his previous role as President and Chief Executive Officer of Putnam Management and Putnam Investments, LLC, the previous parent company to Putnam Management, PIL, and PAC.

The sub-section “Officers” in the section “MANAGEMENT” is deleted in its entirety and replaced with the following:

Officers

 

The other officers of the fund, in addition to Robert L. Reynolds, the fund’s President, are shown below.  All of the officers of your fund listed below are employees of Putnam Management or its affiliates or are members of the Trustees’ independent administrative staff.

 

Name, Address1, Year of Birth, Position(s) Held with Fund

Length of Service with the Putnam Funds2

 

 Principal Occupation(s) During Past 5 Years and Position(s) with Fund’s Investment Adviser and Distributor3
Jonathan S. Horwitz4 (Born 1955) Executive Vice President, Principal Executive Officer, and Compliance Liaison Since 2004 Executive Vice President, Principal Executive Officer, and Compliance Liaison, The Putnam Funds.

Stephen J. Tate (Born 1974)

Vice President and Chief Legal Officer

 Since 2021

General Counsel, Putnam U.S. Holdings I, LLC (“Putnam Holdings”), Putnam Management and Putnam Retail Management (2021 – Present).

Deputy General Counsel and related positions, Putnam Investments, Putnam Management and Putnam Retail Management (2004-2021).

 
 

 

Name, Address1, Year of Birth, Position(s) Held with Fund

Length of Service with the Putnam Funds2

 

 Principal Occupation(s) During Past 5 Years and Position(s) with Fund’s Investment Adviser and Distributor3

James F. Clark3 (Born 1974)

Vice President and Chief Compliance Officer

 Since 2016

Chief Compliance Officer, Putnam Holdings and Putnam Management (2016 – Present).

Associate General Counsel, Putnam Investments, Putnam Management and Putnam Retail Management (2003-2015).

Michael J. Higgins4 (Born 1976)

Vice President, Treasurer, and Clerk

 Since 2010 Vice President, Treasurer, and Clerk, The Putnam Funds.

Kevin R. Blatchford (Born 1967)

Vice President and Assistant Treasurer

 Since 2023 Director, Financial Reporting, Putnam Holdings

Kelley Hunt (Born 1984)

AML Compliance Officer

 Since 2023 Manager, U.S. Financial Crime team, Franklin Templeton

Janet C. Smith (Born 1965)

Vice President, Principal Financial Officer, Principal Accounting Officer, and Assistant Treasurer

 Since 2007 Head of Fund Administration Services, Putnam Holdings and Putnam Management.
Alan G. McCormack5 (Born 1964) Vice President and Derivatives Risk Manager Since 2022 Head of Quantitative Equities and Risk, Putnam Management.

Martin Lemaire5 (Born 1984)

Vice President and Derivatives Risk Manager

 Since 2022

Risk Manager, Putnam Management

(2020 – Present).

Risk Analyst, Putnam Management

(2016 – 2020).

Denere P. Poulack4 (Born 1968)

Assistant Vice President, Assistant Clerk, and Assistant Treasurer

 Since 2004 Assistant Vice President, Assistant Clerk, and Assistant Treasurer, The Putnam Funds.

 

1The address of each Officer, other than Ms. Hunt, is 100 Federal Street, Boston, MA 02110. Ms. Hunt’s address is 100 Fountain Parkway, St. Petersburg, FL 33716.

2Each officer serves for an indefinite term, until his or her resignation, retirement, death or removal.

3Prior positions and/or officer appointments with the fund or the fund’s investment adviser and distributor have been omitted.

4Officers of the fund indicated are members of the Trustees’ independent administrative staff. Compensation for these individuals is fixed by the Trustees and reimbursed to Putnam Management by the funds, except in certain cases where a fund has a unitary fee and/or expense limitation arrangement whereby Putnam Management is responsible for all or a portion of these individuals’ compensation.

5 Messrs. McCormack and Lemaire each serve as Vice President and Derivatives Risk Manager for the funds, except Putnam Government Money Market Fund, Putnam Money Market Fund, and Putnam VT Government Money Market Fund.

Except as stated above, the principal occupations of the officers and Trustees for the last five years have been with the employers as shown above, although in some cases they have held different positions with their employers.

 
 

The sub-section “Principal Underwriter” in the section “MANAGEMENT” is deleted in its entirety and replaced with the following:

Putnam Retail Management, located at 100 Federal Street, Boston, MA 02110, is the principal underwriter of shares of the fund and the other continuously offered Putnam Funds. Putnam Retail Management is a wholly-owned subsidiary of Franklin Resources. Putnam Retail Management is not obligated to sell any specific amount of shares of the fund and will purchase shares for resale only against orders for shares. See “Charges and expenses” in Part I of this SAI for information on sales charges and other payments received by Putnam Retail Management.

 

Shareholders should retain this Supplement for future reference.