As filed with the Securities and Exchange Commission on | ||
March 15, 2017 | ||
Registration No. 2-43384 | ||
811-02280 | ||
SECURITIES AND EXCHANGE COMMISSION | ||
WASHINGTON, D.C. 20549 | ||
--------------- | ||
FORM N-1A | ||
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REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | / X / | |
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Pre-Effective Amendment No. | / / | |
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Post-Effective Amendment No. 63 | / X / | |
and/or | ---- | |
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY | / X / | |
ACT OF 1940 | ---- | |
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Amendment No. 55 | / X / | |
(Check appropriate box or boxes) | ---- | |
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PUTNAM CONVERTIBLE SECURITIES FUND | ||
(Exact Name of Registrant as Specified in Charter) | ||
One Post Office Square, Boston, Massachusetts 02109 | ||
(Address of Principal Executive Offices) (Zip Code) | ||
Registrant's Telephone Number, including Area Code | ||
(617) 292-1000 | ||
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It is proposed that this filing will become effective | ||
(check appropriate box) | ||
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/ / | immediately upon filing pursuant to paragraph (b) | |
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/ X / | on February 28, 2017 pursuant to paragraph (b) | |
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/ / | 60 days after filing pursuant to paragraph (a)(1) | |
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/ / | on (date) pursuant to paragraph (a)(1) | |
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/ / | 75 days after filing pursuant to paragraph (a)(2) | |
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/ / | on (date) pursuant to paragraph (a)(2) of Rule 485. | |
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If appropriate, check the following box: | ||
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/ / | this post-effective amendment designates a new | |
---- | effective date for a previously filed post-effective amendment. | |
----------------------- | ||
ROBERT T. BURNS, Vice President | ||
PUTNAM CONVERTIBLE SECURITIES FUND | ||
One Post Office Square | ||
Boston, Massachusetts 02109 | ||
(Name and address of agent for service) | ||
--------------- | ||
Copy to: | ||
BRYAN CHEGWIDDEN, Esquire | ||
ROPES & GRAY LLP | ||
1211 Avenue of the Americas | ||
New York, New York 10036 |
PUTNAM CONVERTIBLE SECURITIES FUND
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Boston, and The Commonwealth of Massachusetts, on the 15th day of March, 2017.
Putnam Convertible Securities Fund
By: /s/ Jonathan S. Horwitz, Executive Vice President, Principal Executive Officer and Compliance Liaison
Pursuant to the requirements of the Securities Act of 1933, as amended, this Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the date indicated:
Signature | Title |
Jameson A. Baxter * | Chair, Board of Trustees |
Kenneth R. Leibler* | Vice Chair, Board of Trustees |
Robert L. Reynolds* | President and Trustee |
Jonathan S. Horwitz* | Executive Vice President, Principal Executive Officer |
and Compliance Liaison |
Janet C. Smith** | Vice President, Principal Financial Officer, Principal |
Accounting Officer and Assistant Treasurer |
Liaquat Ahamed* | Trustee |
Ravi Akhoury* | Trustee |
Barbara M. Baumann* | Trustee |
Robert J. Darretta* | Trustee |
Katinka Domotorffy* | Trustee |
John A. Hill* | Trustee |
Paul L. Joskow* | Trustee |
Robert E. Patterson* | Trustee |
George Putnam, III* | Trustee |
W. Thomas Stephens* | Trustee |
By: /s/ Jonathan S. Horwitz, as Attorney-in-Fact
March 15, 2017
*Signed pursuant to power of attorney filed in Post-Effective Amendment No. 53 to the Registrant's Registration Statement on February 26, 2013.
** Signed pursuant to power of attorney filed in Post-Effective Amendment No. 62 to the Registrant's Registration Statement on February 28, 2017.
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Class A B C M R T Y | Putnam Convertible Securities Fund | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fund summary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goal | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Putnam Convertible Securities Fund seeks, with equal emphasis, current income and capital appreciation. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Its secondary objective is conservation of capital. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fees and expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table describes the fees and expenses you may pay if you buy and hold shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in How do I buy fund shares? beginning on page 13 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholder fees (fees paid directly from your investment) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Example | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Portfolio turnover | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or the above example, affect fund performance. The fund’s turnover rate in the most recent fiscal year was 49%. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We invest mainly in convertible securities of U.S. companies. Under normal circumstances, we invest at least 80% of the fund’s net assets in convertible securities. This policy may be changed only after 60 days’ notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities we buy are below-investment-grade (sometimes referred to as “junk bonds”). The convertible bonds we buy usually have intermediate-to long-term stated maturities (i.e., three years or longer), but often contain “put” features, which allow bondholders to sell the bond back to the company under specified circumstances, that result in shorter effective maturities. When deciding whether to buy or sell investments, we may consider, among other factors: (i) a security’s structural features, such as its position in a company’s capital structure and “put” and “call” features (a company’s right to repurchase the security under specified circumstances is a “call” feature); (ii) credit and prepayment risks; and (iii) with respect to a company’s common stock underlying a convertible security, the stock’s valuation and the company’s financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risks | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
It is important to understand that you can lose money by investing in the fund. The value of convertible securities in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. These risks are generally greater for convertible securities issued by small and midsize companies (which may constitute a significant portion of the fund’s investments from time to time). The value of convertible securities may be adversely affected by changes in the prices of underlying common stocks. Convertible securities tend to provide higher yields than common stocks. However, a higher yield may not protect investors against the risk of loss or adequately mitigate any loss associated with a decline in the price of a convertible security. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund’s investments may default on payment of interest or principal. Credit risk is generally greater for below-investment-grade convertible securities (a significant part of the fund’s investments). Generally, convertible securities may be less sensitive to interest rate changes than non-convertible bonds as a result of convertible securities’ convertibility and “put” features. Interest rate risk is generally greater for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Performance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund's performance year to year and over time. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. Please remember that past performance is not necessarily an indication of future results. Monthly performance figures for the fund are available at putnam.com. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual total returns for class A shares before sales charges | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
![]() | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Best calendar quarter Q2 2009 19.05% Worst calendar quarter Q4 2008 -26.03% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average annual total returns after sales charges (for periods ending 12/31/16) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual
after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are shown for
class A shares only and will vary for other classes. These after-tax returns do not apply if you hold your fund shares through
a 401(k) plan, an IRA, or another tax-advantaged arrangement. Class B share performance reflects conversion to class A shares after eight years. |
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Putnam Convertible Securities Fund | Class I | ||||||||||||||||||||
Goal | ||||||||||||||||||||
Putnam Convertible Securities Fund seeks, with equal emphasis, current income and capital appreciation. | ||||||||||||||||||||
Its secondary objective is conservation of capital. | ||||||||||||||||||||
Fees and expenses | ||||||||||||||||||||
The following table describes the fees and expenses you may pay if you buy and hold Class I shares of the fund. | ||||||||||||||||||||
Shareholder fees (fees paid directly from your investment) | ||||||||||||||||||||
| ||||||||||||||||||||
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||
| ||||||||||||||||||||
Example | ||||||||||||||||||||
The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower. | ||||||||||||||||||||
| ||||||||||||||||||||
Portfolio turnover | ||||||||||||||||||||
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or the above example, affect fund performance. The fund’s turnover rate in the most recent fiscal year was 49%. | ||||||||||||||||||||
Investments | ||||||||||||||||||||
We invest mainly in convertible securities of U.S. companies. Under normal circumstances, we invest at least 80% of the fund’s net assets in convertible securities. This policy may be changed only after 60 days’ notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities we buy are below-investment-grade (sometimes referred to as “junk bonds”). The convertible bonds we buy usually have intermediate-to long-term stated maturities (i.e., three years or longer), but often contain “put” features, which allow bondholders to sell the bond back to the company under specified circumstances, that result in shorter effective maturities. When deciding whether to buy or sell investments, we may consider, among other factors: (i) a security’s structural features, such as its position in a company’s capital structure and “put” and “call” features (a company’s right to repurchase the security under specified circumstances is a “call” feature); (ii) credit and prepayment risks; and (iii) with respect to a company’s common stock underlying a convertible security, the stock’s valuation and the company’s financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends. | ||||||||||||||||||||
Risks | ||||||||||||||||||||
It is important to understand that you can lose money by investing in the fund The value of convertible securities in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. These risks are generally greater for convertible securities issued by small and midsize companies (which may constitute a significant portion of the fund’s investments from time to time). The value of convertible securities may be adversely affected by changes in the prices of underlying common stocks. Convertible securities tend to provide higher yields than common stocks. However, a higher yield may not protect investors against the risk of loss or adequately mitigate any loss associated with a decline in the price of a convertible security. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund’s investments may default on payment of interest or principal. Credit risk is generally greater for below-investment-grade convertible securities (a significant part of the fund’s investments). Generally, convertible securities may be less sensitive to interest rate changes than non-convertible bonds as a result of convertible securities’ convertibility and “put” features. Interest rate risk is generally greater for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | ||||||||||||||||||||
Performance | ||||||||||||||||||||
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time. Performance for class I shares prior to its inception (3/3/15) is derived from the historical performance of the fund’s class Y shares, which are not offered in this prospectus, and has not been adjusted to reflect the lower fees associated with class I shares; had it, returns would have been higher. Please remember that past performance is not necessarily an indication of future results. | ||||||||||||||||||||
Annual total returns for class I shares | ||||||||||||||||||||
![]() | ||||||||||||||||||||
Best calendar quarter Q3 2016 6.86% Worst calendar quarter Q1 2016 -1.28% | ||||||||||||||||||||
Average annual total returns (for periods ending 12/31/16) | ||||||||||||||||||||
| ||||||||||||||||||||
After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. |
Total |
---|
Class A B C M R T Y | Putnam Convertible Securities Fund |
Fund summary |
Goal |
Putnam Convertible Securities Fund seeks, with equal emphasis, current income and capital appreciation. |
Its secondary objective is conservation of capital. |
Fees and expenses |
The following table describes the fees and expenses you may pay if you buy and hold shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in How do I buy fund shares? beginning on page 13 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI). |
Shareholder fees (fees paid directly from your investment) |
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) |
Example |
The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower. |
Portfolio turnover |
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or the above example, affect fund performance. The fund’s turnover rate in the most recent fiscal year was 49%. |
Investments |
We invest mainly in convertible securities of U.S. companies. Under normal circumstances, we invest at least 80% of the fund’s net assets in convertible securities. This policy may be changed only after 60 days’ notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities we buy are below-investment-grade (sometimes referred to as “junk bonds”). The convertible bonds we buy usually have intermediate-to long-term stated maturities (i.e., three years or longer), but often contain “put” features, which allow bondholders to sell the bond back to the company under specified circumstances, that result in shorter effective maturities. When deciding whether to buy or sell investments, we may consider, among other factors: (i) a security’s structural features, such as its position in a company’s capital structure and “put” and “call” features (a company’s right to repurchase the security under specified circumstances is a “call” feature); (ii) credit and prepayment risks; and (iii) with respect to a company’s common stock underlying a convertible security, the stock’s valuation and the company’s financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends. |
Risks |
It is important to understand that you can lose money by investing in the fund. The value of convertible securities in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. These risks are generally greater for convertible securities issued by small and midsize companies (which may constitute a significant portion of the fund’s investments from time to time). The value of convertible securities may be adversely affected by changes in the prices of underlying common stocks. Convertible securities tend to provide higher yields than common stocks. However, a higher yield may not protect investors against the risk of loss or adequately mitigate any loss associated with a decline in the price of a convertible security. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund’s investments may default on payment of interest or principal. Credit risk is generally greater for below-investment-grade convertible securities (a significant part of the fund’s investments). Generally, convertible securities may be less sensitive to interest rate changes than non-convertible bonds as a result of convertible securities’ convertibility and “put” features. Interest rate risk is generally greater for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
Performance |
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund's performance year to year and over time. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. Please remember that past performance is not necessarily an indication of future results. Monthly performance figures for the fund are available at putnam.com. |
Annual total returns for class A shares before sales charges |
Best calendar quarter Q2 2009 19.05% Worst calendar quarter Q4 2008 -26.03% |
Average annual total returns after sales charges (for periods ending 12/31/16) |
After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual
after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are shown for
class A shares only and will vary for other classes. These after-tax returns do not apply if you hold your fund shares through
a 401(k) plan, an IRA, or another tax-advantaged arrangement. Class B share performance reflects conversion to class A shares after eight years. |
Class I | Putnam Convertible Securities Fund |
Fund Summary |
Goal |
Putnam Convertible Securities Fund seeks, with equal emphasis, current income and capital appreciation. |
Its secondary objective is conservation of capital. |
Fees and expenses |
The following table describes the fees and expenses you may pay if you buy and hold Class I shares of the fund. |
Shareholder fees (fees paid directly from your investment) |
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) |
Example |
The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower. |
Portfolio turnover |
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or the above example, affect fund performance. The fund’s turnover rate in the most recent fiscal year was 49%. |
Investments |
We invest mainly in convertible securities of U.S. companies. Under normal circumstances, we invest at least 80% of the fund’s net assets in convertible securities. This policy may be changed only after 60 days’ notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities we buy are below-investment-grade (sometimes referred to as “junk bonds”). The convertible bonds we buy usually have intermediate-to long-term stated maturities (i.e., three years or longer), but often contain “put” features, which allow bondholders to sell the bond back to the company under specified circumstances, that result in shorter effective maturities. When deciding whether to buy or sell investments, we may consider, among other factors: (i) a security’s structural features, such as its position in a company’s capital structure and “put” and “call” features (a company’s right to repurchase the security under specified circumstances is a “call” feature); (ii) credit and prepayment risks; and (iii) with respect to a company’s common stock underlying a convertible security, the stock’s valuation and the company’s financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends. |
Risks |
It is important to understand that you can lose money by investing in the fund The value of convertible securities in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. These risks are generally greater for convertible securities issued by small and midsize companies (which may constitute a significant portion of the fund’s investments from time to time). The value of convertible securities may be adversely affected by changes in the prices of underlying common stocks. Convertible securities tend to provide higher yields than common stocks. However, a higher yield may not protect investors against the risk of loss or adequately mitigate any loss associated with a decline in the price of a convertible security. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund’s investments may default on payment of interest or principal. Credit risk is generally greater for below-investment-grade convertible securities (a significant part of the fund’s investments). Generally, convertible securities may be less sensitive to interest rate changes than non-convertible bonds as a result of convertible securities’ convertibility and “put” features. Interest rate risk is generally greater for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
Performance |
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time. Performance for class I shares prior to its inception (3/3/15) is derived from the historical performance of the fund’s class Y shares, which are not offered in this prospectus, and has not been adjusted to reflect the lower fees associated with class I shares; had it, returns would have been higher. Please remember that past performance is not necessarily an indication of future results. |
Annual total returns for class I shares |
Best calendar quarter Q3 2016 6.86% Worst calendar quarter Q1 2016 -1.28% |
Average annual total returns (for periods ending 12/31/16) |
After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. |
Label | Element | Value | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Document Type | dei_DocumentType | 485BPOS | ||||||||||||
Document Period End Date | dei_DocumentPeriodEndDate | Dec. 31, 2016 | ||||||||||||
Registrant Name | dei_EntityRegistrantName | PUTNAM CONVERTIBLE SECURITIES FUND | ||||||||||||
Central Index Key | dei_EntityCentralIndexKey | 0000081247 | ||||||||||||
Amendment Flag | dei_AmendmentFlag | false | ||||||||||||
Trading Symbol | dei_TradingSymbol | PCONX | ||||||||||||
Document Creation Date | dei_DocumentCreationDate | Feb. 28, 2017 | ||||||||||||
Document Effective Date | dei_DocumentEffectiveDate | Feb. 28, 2017 | ||||||||||||
Prospectus Date | rr_ProspectusDate | Feb. 28, 2017 | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Fund summary | ||||||||||||
Objective [Heading] | rr_ObjectiveHeading | Goal | ||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | Putnam Convertible Securities Fund seeks, with equal emphasis, current income and capital appreciation. | ||||||||||||
Objective, Secondary [Text Block] | rr_ObjectiveSecondaryTextBlock | Its secondary objective is conservation of capital. | ||||||||||||
Expense [Heading] | rr_ExpenseHeading | Fees and expenses | ||||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following table describes the fees and expenses you may pay if you buy and hold shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in How do I buy fund shares? beginning on page 13 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI). | ||||||||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder fees (fees paid directly from your investment) | ||||||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) | ||||||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio turnover | ||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or the above example, affect fund performance. The fund’s turnover rate in the most recent fiscal year was 49%. | ||||||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 49.00% | ||||||||||||
Expense Breakpoint Discounts [Text] | rr_ExpenseBreakpointDiscounts | You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in How do I buy fund shares? beginning on page 13 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI). | ||||||||||||
Expense Breakpoint, Minimum Investment Required [Amount] | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 | ||||||||||||
Expenses Restated to Reflect Current [Text] | rr_ExpensesRestatedToReflectCurrent | Restated to reflect current fees resulting from a change to the fund’s investor servicing arrangements effective September 1, 2016. | ||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | ||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower. | ||||||||||||
Strategy [Heading] | rr_StrategyHeading | Investments | ||||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | We invest mainly in convertible securities of U.S. companies. Under normal circumstances, we invest at least 80% of the fund’s net assets in convertible securities. This policy may be changed only after 60 days’ notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities we buy are below-investment-grade (sometimes referred to as “junk bonds”). The convertible bonds we buy usually have intermediate-to long-term stated maturities (i.e., three years or longer), but often contain “put” features, which allow bondholders to sell the bond back to the company under specified circumstances, that result in shorter effective maturities. When deciding whether to buy or sell investments, we may consider, among other factors: (i) a security’s structural features, such as its position in a company’s capital structure and “put” and “call” features (a company’s right to repurchase the security under specified circumstances is a “call” feature); (ii) credit and prepayment risks; and (iii) with respect to a company’s common stock underlying a convertible security, the stock’s valuation and the company’s financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends. | ||||||||||||
Strategy Portfolio Concentration [Text] | rr_StrategyPortfolioConcentration | Under normal circumstances, we invest at least 80% of the fund’s net assets in convertible securities. This policy may be changed only after 60 days’ notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. | ||||||||||||
Risk [Heading] | rr_RiskHeading | Risks | ||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | It is important to understand that you can lose money by investing in the fund. The value of convertible securities in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. These risks are generally greater for convertible securities issued by small and midsize companies (which may constitute a significant portion of the fund’s investments from time to time). The value of convertible securities may be adversely affected by changes in the prices of underlying common stocks. Convertible securities tend to provide higher yields than common stocks. However, a higher yield may not protect investors against the risk of loss or adequately mitigate any loss associated with a decline in the price of a convertible security. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund’s investments may default on payment of interest or principal. Credit risk is generally greater for below-investment-grade convertible securities (a significant part of the fund’s investments). Generally, convertible securities may be less sensitive to interest rate changes than non-convertible bonds as a result of convertible securities’ convertibility and “put” features. Interest rate risk is generally greater for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
||||||||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | It is important to understand that you can lose money by investing in the fund. | ||||||||||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | ||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | ||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund's performance year to year and over time. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. Please remember that past performance is not necessarily an indication of future results. Monthly performance figures for the fund are available at putnam.com. | ||||||||||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The performance information below gives some indication of the risks associated with an investment in the fund by showing the funds performance year to year and over time. | ||||||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | putnam.com | ||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | Please remember that past performance is not necessarily an indication of future results. | ||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Annual total returns for class A shares before sales charges | ||||||||||||
Bar Chart Does Not Reflect Sales Loads [Text] | rr_BarChartDoesNotReflectSalesLoads | The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. | ||||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best calendar quarter Q2 2009 19.05% Worst calendar quarter Q4 2008 -26.03% |
||||||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best calendar quarter | ||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | ||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 19.05% | ||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst calendar quarter | ||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | ||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (26.03%) | ||||||||||||
Performance Table Heading | rr_PerformanceTableHeading | Average annual total returns after sales charges (for periods ending 12/31/16) | ||||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. | ||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Actual after-tax returns depend on an investor's tax situation and may differ from those shown. | ||||||||||||
Performance Table One Class of after Tax Shown [Text] | rr_PerformanceTableOneClassOfAfterTaxShown | After-tax returns are shown for class A shares only and will vary for other classes. | ||||||||||||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual
after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are shown for
class A shares only and will vary for other classes. These after-tax returns do not apply if you hold your fund shares through
a 401(k) plan, an IRA, or another tax-advantaged arrangement. Class B share performance reflects conversion to class A shares after eight years. |
||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | Class A | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 5.75% | ||||||||||||
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) | rr_MaximumDeferredSalesChargeOverOther | 1.00% | [1] | |||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.63% | ||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.21% | [2] | |||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.09% | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 680 | ||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 902 | ||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,141 | ||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 1,827 | ||||||||||||
Annual Return 2007 | rr_AnnualReturn2007 | 5.88% | ||||||||||||
Annual Return 2008 | rr_AnnualReturn2008 | (39.46%) | ||||||||||||
Annual Return 2009 | rr_AnnualReturn2009 | 53.75% | ||||||||||||
Annual Return 2010 | rr_AnnualReturn2010 | 19.55% | ||||||||||||
Annual Return 2011 | rr_AnnualReturn2011 | (6.47%) | ||||||||||||
Annual Return 2012 | rr_AnnualReturn2012 | 15.09% | ||||||||||||
Annual Return 2013 | rr_AnnualReturn2013 | 21.96% | ||||||||||||
Annual Return 2014 | rr_AnnualReturn2014 | 7.47% | ||||||||||||
Annual Return 2015 | rr_AnnualReturn2015 | (7.03%) | ||||||||||||
Annual Return 2016 | rr_AnnualReturn2016 | 9.51% | ||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 3.21% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 7.68% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.78% | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | Class B | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||||||
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) | rr_MaximumDeferredSalesChargeOverOther | 5.00% | [3] | |||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.63% | ||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | ||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.21% | [2] | |||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.84% | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 687 | ||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 879 | ||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,195 | ||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 1,962 | ||||||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 187 | ||||||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 579 | ||||||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 995 | ||||||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,962 | ||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 3.72% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 7.86% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.77% | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | Class C | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||||||
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) | rr_MaximumDeferredSalesChargeOverOther | 1.00% | [4] | |||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.63% | ||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | ||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.21% | [2] | |||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.84% | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 287 | ||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 579 | ||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 995 | ||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 2,159 | ||||||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 187 | ||||||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 579 | ||||||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 995 | ||||||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 2,159 | ||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 7.71% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 8.14% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.61% | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | Class M | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 3.50% | ||||||||||||
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.63% | ||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 0.75% | ||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.21% | [2] | |||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.59% | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 506 | ||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 834 | ||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,185 | ||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 2,173 | ||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 5.20% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 7.65% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.51% | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | Class R | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||||||
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.63% | ||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 0.50% | ||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.21% | [2] | |||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.34% | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 136 | ||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 425 | ||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 734 | ||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 1,613 | ||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 9.28% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 8.69% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.14% | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | Class T | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | 2.50% | ||||||||||||
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.63% | ||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | ||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.21% | [5] | |||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 1.09% | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 358 | ||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 588 | ||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 836 | ||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 1,545 | ||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 6.77% | [6] | |||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 8.41% | [6] | |||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.14% | [6] | |||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | Class Y | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||||||
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.63% | ||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.21% | [2] | |||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 0.84% | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 86 | ||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 268 | ||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 466 | ||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 1,037 | ||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 9.80% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 9.24% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.67% | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | after taxes on distributions | Class A | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 2.42% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 6.38% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 3.71% | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | after taxes on distributions and sale of fund shares | Class A | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 1.96% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 5.66% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 3.45% | ||||||||||||
Class A B C M R T Y | Putnam Convertible Securities Fund | BofA Merrill Lynch U.S. Convertible Index (no deduction for fees, expenses or taxes) | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 10.43% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 10.98% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 6.45% | ||||||||||||
Class I | Putnam Convertible Securities Fund | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Fund Summary | ||||||||||||
Objective [Heading] | rr_ObjectiveHeading | Goal | ||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | Putnam Convertible Securities Fund seeks, with equal emphasis, current income and capital appreciation. | ||||||||||||
Objective, Secondary [Text Block] | rr_ObjectiveSecondaryTextBlock | Its secondary objective is conservation of capital. | ||||||||||||
Expense [Heading] | rr_ExpenseHeading | Fees and expenses | ||||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following table describes the fees and expenses you may pay if you buy and hold Class I shares of the fund. | ||||||||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder fees (fees paid directly from your investment) | ||||||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) | ||||||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio turnover | ||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or the above example, affect fund performance. The fund’s turnover rate in the most recent fiscal year was 49%. | ||||||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 49.00% | ||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | ||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower. | ||||||||||||
Strategy [Heading] | rr_StrategyHeading | Investments | ||||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | We invest mainly in convertible securities of U.S. companies. Under normal circumstances, we invest at least 80% of the fund’s net assets in convertible securities. This policy may be changed only after 60 days’ notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities we buy are below-investment-grade (sometimes referred to as “junk bonds”). The convertible bonds we buy usually have intermediate-to long-term stated maturities (i.e., three years or longer), but often contain “put” features, which allow bondholders to sell the bond back to the company under specified circumstances, that result in shorter effective maturities. When deciding whether to buy or sell investments, we may consider, among other factors: (i) a security’s structural features, such as its position in a company’s capital structure and “put” and “call” features (a company’s right to repurchase the security under specified circumstances is a “call” feature); (ii) credit and prepayment risks; and (iii) with respect to a company’s common stock underlying a convertible security, the stock’s valuation and the company’s financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends. | ||||||||||||
Strategy Portfolio Concentration [Text] | rr_StrategyPortfolioConcentration | Under normal circumstances, we invest at least 80% of the fund’s net assets in convertible securities. This policy may be changed only after 60 days’ notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. | ||||||||||||
Risk [Heading] | rr_RiskHeading | Risks | ||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | It is important to understand that you can lose money by investing in the fund The value of convertible securities in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. These risks are generally greater for convertible securities issued by small and midsize companies (which may constitute a significant portion of the fund’s investments from time to time). The value of convertible securities may be adversely affected by changes in the prices of underlying common stocks. Convertible securities tend to provide higher yields than common stocks. However, a higher yield may not protect investors against the risk of loss or adequately mitigate any loss associated with a decline in the price of a convertible security. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund’s investments may default on payment of interest or principal. Credit risk is generally greater for below-investment-grade convertible securities (a significant part of the fund’s investments). Generally, convertible securities may be less sensitive to interest rate changes than non-convertible bonds as a result of convertible securities’ convertibility and “put” features. Interest rate risk is generally greater for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
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Risk Lose Money [Text] | rr_RiskLoseMoney | It is important to understand that you can lose money by investing in the fund. | ||||||||||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | ||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | ||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time. Performance for class I shares prior to its inception (3/3/15) is derived from the historical performance of the fund’s class Y shares, which are not offered in this prospectus, and has not been adjusted to reflect the lower fees associated with class I shares; had it, returns would have been higher. Please remember that past performance is not necessarily an indication of future results. | ||||||||||||
Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The performance information below gives some indication of the risks associated with an investment in the fund by showing the funds performance year to year and over time. | ||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | Please remember that past performance is not necessarily an indication of future results. | ||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Annual total returns for class I shares | ||||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best calendar quarter Q3 2016 6.86% Worst calendar quarter Q1 2016 -1.28% |
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Bar Chart, Returns for Class Not Offered in Prospectus [Text] | rr_BarChartReturnsForClassNotOfferedInProspectus | Performance for class I shares before their inception (3/3/15) is derived from the historical performance of the fund’s class Y shares, which are not offered in this prospectus, and has not been adjusted to reflect the lower fees associated with class I shares; had it, returns would have been higher. | ||||||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best calendar quarter | ||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Sep. 30, 2016 | ||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 6.86% | ||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst calendar quarter | ||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Mar. 31, 2016 | ||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (1.28%) | ||||||||||||
Performance Table Heading | rr_PerformanceTableHeading | Average annual total returns (for periods ending 12/31/16) |
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Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. | ||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Actual after-tax returns depend on an investor's tax situation and may differ from those shown. | ||||||||||||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. | ||||||||||||
Class I | Putnam Convertible Securities Fund | Class I | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||||||
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||||||||
Management fees | rr_ManagementFeesOverAssets | 0.63% | ||||||||||||
Distribution and service (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | |||||||||||||
Other expenses | rr_OtherExpensesOverAssets | 0.06% | ||||||||||||
Total annual fund operating expenses | rr_ExpensesOverAssets | 0.69% | ||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 70 | ||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 221 | ||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 384 | ||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 859 | ||||||||||||
Annual Return 2016 | rr_AnnualReturn2016 | 9.95% | ||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 9.95% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 9.29% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 5.70% | ||||||||||||
Class I | Putnam Convertible Securities Fund | after taxes on distributions | Class I | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 8.73% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 7.79% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.50% | ||||||||||||
Class I | Putnam Convertible Securities Fund | after taxes on distributions and sale of fund shares | Class I | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 5.59% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 6.84% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 4.13% | ||||||||||||
Class I | Putnam Convertible Securities Fund | BofA Merrill Lynch U.S. Convertible Index (no deduction for fees, expenses or taxes) | ||||||||||||||
Risk Return Abstract | rr_RiskReturnAbstract | |||||||||||||
1 Year | rr_AverageAnnualReturnYear01 | 10.43% | ||||||||||||
5 Years | rr_AverageAnnualReturnYear05 | 10.98% | ||||||||||||
10 Years | rr_AverageAnnualReturnYear10 | 6.45% | ||||||||||||
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