Putnam Convertible Securities Fund
77E Legal Proceedings


In late 2003 and 2004, Putnam Management settled charges brought
by the SEC and the Massachusetts Securities
Division in connection with excessive short term trading in
Putnam funds. In July 2011, the fund recorded a receivable
of $126,693 related to restitution amounts in connection with
a distribution plan approved by the SEC.  These allegations and
related matters have served as the general basis for certain
lawsuits, including purported class action lawsuits against
Putnam Management and, in a limited number of cases, some Putnam
funds. In May 2011, the fund received a payment of $3,100
related to settlement of those lawsuits. Putnam Management has
agreed to bear any costs incurred by the Putnam funds as a
result of these matters.