-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EDn6pcrRnIpFVSdApVPB9Bo7uWUpCdtQ7/Koz2WdyUPzFvEVk+BX4A/yKHitJ6uu XOz8Dtd+ltFPr91AsVnovw== 0000928816-09-001059.txt : 20090929 0000928816-09-001059.hdr.sgml : 20090929 20090929142113 ACCESSION NUMBER: 0000928816-09-001059 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090731 FILED AS OF DATE: 20090929 DATE AS OF CHANGE: 20090929 EFFECTIVENESS DATE: 20090929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM GLOBAL EQUITY FUND CENTRAL INDEX KEY: 0000081251 IRS NUMBER: 046145734 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-01403 FILM NUMBER: 091092464 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GLOBAL GROWTH FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL EQUITIES FUND DATE OF NAME CHANGE: 19900722 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL EQUITIES FUND INC /PRED/ DATE OF NAME CHANGE: 19821109 0000081251 S000005651 PUTNAM GLOBAL EQUITY FUND C000015432 Class A Shares PEQUX C000015433 Class B Shares PEQBX C000015434 Class C Shares PUGCX C000015435 Class M Shares PEQMX C000015436 Class R Shares PGLRX C000015437 Class Y Shares PEQYX N-Q 1 a_globalequity.htm PUTNAM GLOBAL EQUITY FUND a_globalequity.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM N-Q
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT 
INVESTMENT COMPANY
 
Investment Company Act file number: (811- 01403)   
 
Exact name of registrant as specified in charter:  Putnam Global Equity Fund 
 
Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109 
 
Name and address of agent for service:  Beth S. Mazor, Vice President 
  One Post Office Square 
  Boston, Massachusetts 02109 
 
Copy to:  John W. Gerstmayr, Esq. 
  Ropes & Gray LLP 
  One International Place 
  Boston, Massachusetts 02110 
 
Registrant’s telephone number, including area code:  (617) 292-1000   
 
Date of fiscal year end: October 31, 2009   
 
Date of reporting period: July 31, 2009   

Item 1. Schedule of Investments:



Putnam Global Equity Fund

The fund's portfolio
7/31/09 (Unaudited)

COMMON STOCKS (97.8%)(a)     
  Shares  Value 

 
Aerospace and defense (3.9%)     
BAE Systems PLC (United Kingdom)  1,816,988  $9,307,706 
Bombardier, Inc. (Canada)  699,000  2,475,598 
L-3 Communications Holdings, Inc.  248,600  18,769,300 
Lockheed Martin Corp.  64,700  4,836,972 
    35,389,576 

 
Agriculture (0.6%)     
Wilmar International, Ltd. (Singapore)  1,264,000  5,264,103 
    5,264,103 

 
Airlines (1.7%)     
Qantas Airways, Ltd. (Australia)  2,242,000  4,340,082 
Singapore Airlines, Ltd. (Singapore)  1,198,000  11,244,525 
    15,584,607 

 
Automotive (0.7%)     
Nissan Motor Co., Ltd. (Japan)  545,200  3,963,313 
Porsche Automobil Holding SE (Preference) (Germany)  34,000  2,216,259 
    6,179,572 

 
Banking (8.9%)     
Alpha Bank AE (Greece) (NON)  175,539  2,313,986 
Banco Santander Central Hispano SA (Spain)  1,402,178  20,302,158 
Bank of America Corp. (S)  1,292,100  19,110,159 
Bank of China Ltd. (China)  6,163,000  3,069,631 
DBS Group Holdings, Ltd. (Singapore)  706,000  6,813,099 
Hudson City Bancorp, Inc. (S)  866,900  12,188,614 
Mizuho Financial Group, Inc. (Japan)  2,470,000  5,602,975 
National Bank of Greece SA (Greece) (NON)  258,743  7,551,686 
Societe Generale (France)  74,920  4,809,921 
    81,762,229 

 
Basic materials (1.4%)     
Antofagasta PLC (United Kingdom)  532,860  6,730,716 
Sumitomo Metal Mining Co., Ltd. (Japan)  385,000  5,788,405 
    12,519,121 

 
Biotechnology (1.1%)     
Amgen, Inc. (NON)  159,700  9,950,907 
    9,950,907 

 
Cable television (0.3%)     
DISH Network Corp. Class A (NON)  180,600  3,061,170 
    3,061,170 

 
Chemicals (0.7%)     
Cabot Corp.  36,807  673,568 
Terra Industries, Inc.  208,700  6,085,692 
    6,759,260 

 
Commercial and consumer services (1.6%)     
Alliance Data Systems Corp. (NON) (S)  107,000  5,457,000 
Companhia Brasileira de Meios de Pagamento 144A     
(Brazil) (NON)  95,400  915,292 
Daito Trust Construction Co., Ltd. (Japan)  55,700  2,738,574 
Swire Pacific, Ltd. (Hong Kong)  277,500  3,117,032 
TUI Travel PLC (United Kingdom)  537,648  2,036,461 
    14,264,359 

 
Communications equipment (1.0%)     
Cisco Systems, Inc. (NON)  402,700  8,863,427 
    8,863,427 

 
Computers (0.4%)     
Lexmark International, Inc. Class A (NON)  275,585  3,990,471 
    3,990,471 

 
Conglomerates (1.0%)     
Mitsubishi Corp. (Japan)  305,900  6,099,926 
Vivendi SA (France)  130,998  3,365,002 
    9,464,928 

 
Construction (0.2%)     



Buzzi Unicem SpA (Italy)  97,385  1,458,613 
    1,458,613 

 
Consumer goods (2.1%)     
Colgate-Palmolive Co.  141,600  10,257,504 
Reckitt Benckiser Group PLC (United Kingdom)  188,641  9,052,681 
    19,310,185 

 
Electric utilities (2.5%)     
E.ON AG (Germany)  331,690  12,554,684 
RWE AG (Germany)  122,926  10,379,524 
    22,934,208 

 
Electronics (2.9%)     
Coretronic Corporation (Taiwan)  3,930,000  4,667,160 
Integrated Device Technology, Inc. (NON)  620,668  4,201,922 
Media Tek, Inc. (Taiwan)  827,652  11,898,223 
Texas Instruments, Inc. (S)  246,800  5,935,540 
    26,702,845 

 
Engineering and construction (0.8%)     
Aveng, Ltd. (South Africa)  1,509,618  7,206,279 
    7,206,279 

 
Financial (1.9%)     
Broadridge Financial Solutions, Inc.  706,900  12,208,163 
ORIX Corp. (Japan)  87,640  5,538,759 
    17,746,922 

 
Food (3.8%)     
Archer Daniels Midland Co.  721,700  21,737,604 
Bunge, Ltd. (S)  191,700  13,413,249 
    35,150,853 

 
Forest products and packaging (0.4%)     
Sino-Forest Corp. (Canada) (NON)  264,847  3,609,541 
    3,609,541 

 
Gaming and lottery (1.1%)     
Greek Organization of Football Prognostics (OPAP) SA     
(Greece)  405,065  9,726,800 
    9,726,800 

 
Health-care services (0.8%)     
CIGNA Corp.  265,300  7,534,520 
    7,534,520 

 
Insurance (7.5%)     
Aflac, Inc.  150,400  5,694,144 
Allied World Assurance Company Holdings, Ltd. (Bermuda)  83,600  3,633,256 
AXA SA (France)  724,772  15,317,500 
ING Groep NV (Netherlands)  629,002  8,065,724 
Swiss Life Holding AG (Switzerland)  124,449  12,477,521 
UnumProvident Corp.  186,200  3,494,974 
Zurich Financial Services AG (Switzerland)  104,848  20,612,320 
    69,295,439 

 
Investment banking/Brokerage (2.5%)     
Goldman Sachs Group, Inc. (The)  40,900  6,678,970 
State Street Corp.  327,600  16,478,280 
    23,157,250 

 
Machinery (0.3%)     
Timken Co.  122,900  2,504,702 
    2,504,702 

 
Metals (4.4%)     
ArcelorMittal South Africa, Ltd. (South Africa)  452,629  5,839,621 
Grupo Mexico SAB de CV SA Ser. B (Mexico)  9,076,904  12,851,580 
Inmet Mining Corp. (Canada)  186,700  7,816,959 
Noble Group, Ltd. (Hong Kong) (S)  1,872,000  2,720,211 
Tokyo Steel Manufacturing Co., Ltd. (Japan)  708,900  7,853,397 
Voestalpine AG (Austria)  127,856  3,547,582 
    40,629,350 

 
Natural gas utilities (0.3%)     
UGI Corp.  91,300  2,413,972 
    2,413,972 

 
Office equipment and supplies (1.4%)     
Canon, Inc. (Japan)  353,300  13,158,356 
    13,158,356 




Oil and gas (11.9%)     
BP PLC (United Kingdom)  597,980  4,961,009 
Dragon Oil PLC (United Arab Emirates) (NON)  342,747  1,918,750 
Exxon Mobil Corp. (S)  307,756  21,662,945 
Inpex Holdings, Inc. (Japan)  992  7,577,632 
OMV AG (Austria)  298,000  11,827,332 
Petroleo Brasileiro SA ADR (Brazil)  65,500  2,701,220 
Royal Dutch Shell PLC Class A (United Kingdom) (S)  1,087,495  28,578,111 
StatoilHydro ASA (Norway)  986,350  21,076,542 
Tesoro Corp. (S)  442,327  5,790,060 
Valero Energy Corp.  202,660  3,647,880 
    109,741,481 

 
Pharmaceuticals (9.4%)     
Astellas Pharma, Inc. (Japan)  197,900  7,537,656 
AstraZeneca PLC (United Kingdom)  221,672  10,367,790 
Eli Lilly & Co.  457,300  15,955,197 
Johnson & Johnson (S)  188,200  11,459,498 
Pfizer, Inc. (S)  1,479,700  23,571,621 
Roche Holding AG (Switzerland)  88,439  13,950,544 
Wyeth  75,800  3,528,490 
    86,370,796 

 
Publishing (1.5%)     
R. R. Donnelley & Sons Co.  743,000  10,327,700 
Yellow Pages Income Fund (Unit) (Canada) (S)  779,300  3,612,553 
    13,940,253 

 
Real estate (1.0%)     
Hospitality Properties Trust (R)  230,100  3,633,279 
HRPT Properties Trust (R)  133,343  642,713 
Japan Retail Fund Investment Corp. (Japan) (R)  987  4,946,455 
    9,222,447 

 
Regional Bells (2.1%)     
Qwest Communications International, Inc. (S)  3,752,300  14,483,878 
Verizon Communications, Inc. (S)  141,500  4,537,905 
    19,021,783 

 
Retail (2.8%)     
Hennes & Mauritz AB (H&M) Class B (Sweden)  112,691  6,700,639 
RadioShack Corp. (S)  1,213,017  18,813,894 
    25,514,533 

 
Schools (2.4%)     
Apollo Group, Inc. Class A (NON)  321,300  22,182,552 
    22,182,552 

 
Semiconductor (0.3%)     
Macronix International (Taiwan)  5,524,000  2,888,487 
    2,888,487 

 
Shipping (0.7%)     
D/S Norden (Denmark)  184,525  6,578,447 
    6,578,447 

 
Software (1.7%)     
Microsoft Corp. (S)  471,600  11,092,032 
Oracle Corp.  198,300  4,388,379 
    15,480,411 

 
Technology services (2.2%)     
Ingram Micro, Inc. Class A (NON)  1,200,300  20,189,046 
    20,189,046 

 
Telephone (1.7%)     
Nippon Telegraph & Telephone (NTT) Corp. (Japan)  383,100  15,804,189 
    15,804,189 

 
Tobacco (3.6%)     
Altria Group, Inc.  430,200  7,541,406 
Philip Morris International, Inc.  538,900  25,112,740 
    32,654,146 

 
Toys (0.2%)     
Nintendo Co., Ltd. (Japan)  8,000  2,159,949 
    2,159,949 

 
Transportation (0.1%)     
DP World, Ltd. (United Arab Emirates)  3,723,680  1,340,525 
    1,340,525 




Total common stocks (cost $952,117,210)   

 

  $898,682,610 
 
WARRANTS (0.2%)(a)(NON)         
  Expiration date  Strike Price  Warrants  Value 

Bank of Baroda 144A (India)  5/19/10  $0.00  175,620  $1,593,541 

Total warrants (cost $1,578,009)        $1,593,541 
 
U.S. TREASURY OBLIGATIONS (--%)(a)         
      Principal amount  Value 

U.S. Treasury Notes 4 1/2s, February 28, 2011 (i)      $275,000  $295,853 

Total U.S. treasury obligations (cost $295,853)        $295,853 
 
PURCHASED OPTIONS OUTSTANDING (--%)(a)         
  Expiration date/    Contract   
  strike price    amount  Value 

Amgen, Inc. (Put)  Aug-09/$57.50    $108,596  $96,107 

Total purchased options outstanding (cost $88,451)        $96,107 
 
SHORT-TERM INVESTMENTS (18.4%)(a)         
      Principal amount/shares  Value 

Putnam Money Market Liquidity Fund (e)      8,330,043  $8,330,043 
Short-term investments held as collateral for loaned         
securities with yields ranging from 0.15% to 0.54% and         
due dates ranging from August 3, 2009 to         
August 10, 2009 (d)      $158,419,502  158,413,940 
SSgA Prime Money Market Fund (i)      150,000  150,000 
U.S. Treasury Bills for an effective yield of zero %, December 17, 2009 (i)      255,000  254,796 
U.S. Treasury Bills for effective yields ranging from         
0.38% to 0.40%, February 11, 2010      310,000  309,320 
U.S. Treasury Cash Management Bills for effective         
yields ranging from 0.37% to 0.44%, April 1, 2010      1,155,000  1,151,340 

Total short-term investments (cost $168,609,829)        $168,609,439 
 
TOTAL INVESTMENTS         

Total investments (cost $1,122,689,352)(b)        $1,069,277,550 



FORWARD CURRENCY CONTRACTS TO BUY at 7/31/09 (aggregate face value $177,078,718) (Unaudited)   
        Unrealized 
    Aggregate  Delivery  appreciation/ 
  Value  face value  date  (depreciation) 

Australian Dollar  $33,162,529  $31,539,391  8/19/09  $1,623,138 
British Pound  32,503,298  31,873,082  8/19/09  630,216 
Canadian Dollar  29,213,466  27,144,274  8/19/09  2,069,192 
Euro  52,716,841  52,418,445  8/19/09  298,396 
Hong Kong Dollar  1,211,530  1,211,616  8/19/09  (86) 
Japanese Yen  16,841,146  16,844,623  8/19/09  (3,477) 
Norwegian Krone  3,904,388  3,680,678  8/19/09  223,710 
Swedish Krona  9,545,476  8,772,518  8/19/09  772,958 
Swiss Franc  3,645,573  3,594,091  8/19/09  51,482 

Total        $5,665,529 



FORWARD CURRENCY CONTRACTS TO SELL at 7/31/09 (aggregate face value $121,937,254) (Unaudited)   
        Unrealized 
    Aggregate  Delivery  appreciation/ 
  Value  face value  date  (depreciation) 

Australian Dollar  $5,810,234  $5,528,774  8/19/09  $(281,460) 
British Pound  12,937,281  12,714,622  8/19/09  (222,659) 
Danish Krone  3,352,022  3,288,770  8/19/09  (63,252) 
Euro  36,239,346  36,028,548  8/19/09  (210,798) 
Japanese Yen  3,406,009  3,465,346  8/19/09  59,337 
Norwegian Krone  21,292,093  20,071,265  8/19/09  (1,220,828) 
Singapore Dollar  17,536,951  17,311,242  8/19/09  (225,709) 
Swedish Krona  5,365,751  4,927,774  8/19/09  (437,977) 
Swiss Franc  18,842,828  18,600,913  8/19/09  (241,915) 

Total        $(2,845,261) 



Key to holding's abbreviations

ADR American Depository Receipts

NOTES

(a) Percentages indicated are based on net assets of $918,591,292.

(b) The aggregate identified cost on a tax basis is $1,123,331,550, resulting in gross unrealized appreciation and depreciation of $91,645,529 and $145,699,529, respectively, or net unrealized depreciation of $54,054,000.

(NON) Non-income-producing security.

(d) The fund may lend securities, through its agents, to qualified borrowers in order to earn additional income. The loans are collateralized by cash and/or securities in an amount at least equal to the market value of the securities loaned. The market value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The risk of borrower default will be borne by the fund’s agents; the fund will bear the risk of loss with respect to the investment of the cash collateral. At July 31, 2009, the value of securities loaned amounted to $151,344,452. The fund received cash collateral of $158,413,940 which is pooled with collateral of other Putnam funds into 5 issues of short-term investments.

(e) The fund invested in Putnam Money Market Liquidity Fund, an open-end management investment company managed by Putnam Investment Management, LLC ("Putnam Management"), the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC. Investments in Putnam Money Market Liquidity Fund are valued at its closing net asset value each business day. Income distributions earned by the fund are recorded as interest income and totaled $8,716 for the period ended July 31, 2009. During the period ended July 31, 2009, cost of purchases and proceeds of sales of investments in Putnam Money Market Liquidity Fund aggregated $124,621,941 and $116,291,898, respectively. Management fees charged to Putnam Money Market Liquidity Fund have been waived by Putnam Management.

(i) Securities purchased with cash or received, that were pledged to the fund for collateral on certain derivative contracts.

(R) Real Estate Investment Trust.

(S) Securities on loan, in part or in entirety, at July 31, 2009.

144A after the name of an issuer represents securities exempt from registration under Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

ADR after the name of a foreign holding represents ownership of foreign securities on deposit with a custodian bank.

The dates shown on debt obligations are the original maturity dates.

DIVERSIFICATION BY COUNTRY

Distribution of investments by country of risk at July 31, 2009 (as a percentage of Portfolio Value):

United States  48.8% 
Japan  9.8 
United Kingdom  7.8 
Switzerland  5.2 
Germany  2.8 
France  2.6 
Singapore  2.6 
Norway  2.3 
Spain  2.2 
Greece  2.2 
Taiwan  2.1 
Canada  1.9 
Austria  1.7 
South Africa  1.4 
Mexico  1.4 
Netherlands  0.9 
Sweden  0.7 
Denmark  0.7 
Hong Kong  0.6 
Australia  0.5 
Other  1.8 

Total  100.0% 

Security valuation: Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets. If no sales are reported -- as in the case of some securities traded over-the-counter -- a security is valued at its last reported bid price. Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign equity securities taking into account multiple factors, including movements in the U.S. securities markets. The number of days on which fair value prices will be used will depend on market activity and it is po ssible that fair value prices will be used by the fund to a significant extent.

Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. To the extent a pricing service or dealer is unable to value a security or provides a valuation which Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. Such valuations and procedures are reviewed periodically by the Trustees.

The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.

Futures and options contracts: The fund may use futures and options contracts to hedge against changes in the values of securities the fund owns or expects to purchase, or for other investment purposes. The fund may also write options on swaps or securities it owns or in which it may invest to increase its current returns.

The potential risk to the fund is that the change in value of futures and options contracts may not correspond to the



change in value of the hedged instruments. In addition, losses may arise from changes in the value of the underlying instruments, if there is an illiquid secondary market for the contracts, interest or exchange rates moving unexpectedly or if the counterparty to the contract is unable to perform. With futures, there is minimal counterparty credit risk to the fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Realized gains and losses on purchased options are included in realized gains and losses on investment securities. If a written call option is exercised, the premium originally received is recorded as an addition to sales proceeds. If a written put option is exercised, the premium originally received is recorded as a reduction to the cost of investments.

Futures contracts are valued at the quoted daily settlement prices established by the exchange on which they trade. The fund and the broker agree to exchange an amount of cash equal to the daily fluctuation in the value of the futures contract. Such receipts or payments are known as “variation margin.” Exchange traded options are valued at the last sale price or, if no sales are reported, the last bid price for purchased options and the last ask price for written options. Options traded over-the-counter are valued using prices supplied by dealers. Outstanding contracts at period end are indicative of the volume of activity during the period.

Forward currency contracts: The fund may buy and sell forward currency contracts, which are agreements between two parties to buy and sell currencies at a set price on a future date. These contracts are used to protect against a decline in value relative to the U.S. dollar of the currencies in which its portfolio securities are denominated or quoted (or an increase in the value of a currency in which securities a fund intends to buy are denominated, when a fund holds cash reserves and short term investments), or for other investment purposes. The U.S. dollar value of forward currency contracts is determined using current forward currency exchange rates supplied by a quotation service. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked to market daily and the change in market value is recorded as an unrealized gain or loss. When the contract is closed , the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The fund could be exposed to risk if the value of the currency changes unfavorably, if the counterparties to the contracts are unable to meet the terms of their contracts or if the fund is unable to enter into a closing position. Outstanding contracts at period end are indicative of the volume of activity during the period.

Master agreements: The fund is a party to ISDA (International Swap and Derivatives Association, Inc.) Master Agreements (“Master Agreements”) with certain counterparties that govern over the counter derivative and foreign exchange contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral posted to the fund is held in a segregated account by the fund’s custodian and with respect to those amounts which can be sold or repledged, are presented in the fund’s portfolio. Collateral posted to the fund which can not be sold or repledged totaled $125,222. Collateral pledged by the fund is segregated by the fund’s custodian and identified in The fund’s portfolio. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by the fund and the applicable counterparty. Collateral requirements are determined based on the fund’s net position with each counterparty. Termination events applicable to the fund may occur upon a decline in the fund’s net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty’s long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the fund’s counte rparties to elect early termination could impact the fund's future derivative activity.

At July 31, 2009, the fund had net unrealized losses of $812,315 on derivative contracts subject to the Master Agreements.

On September 15, 2008, the fund terminated its outstanding derivatives contracts with Lehman Brothers Special Financing, Inc. (“LBSF”) in connection with the bankruptcy filing of LBSF’s parent company, Lehman Brothers Holdings, Inc. On September 26, 2008, the fund entered into a receivable purchase agreement (“Agreement”) with another registered investment company (the “Seller”) managed by Putnam Management. Under the Agreement, the Seller sold to the fund the right to receive, in the aggregate, $2,194,515 in net payments from LBSF in connection with certain terminated derivatives transactions (the “Receivable”), in exchange for an initial payment plus (or minus) additional amounts based on the fund’s ultimate realized gain (or loss) with respect to the Receivable. The Receivable will be offset against the fund’s net payable to LBSF. Future payments under the Agreement are valued at fair value f ollowing procedures approved by the Trustees. All remaining payments under the Agreement will be recorded as realized gain or loss. The fund’s net payable to LBSF was calculated in accordance with the fund’s master contract with LBSF. The fund has accrued interest on the net payable. Putnam Management currently is in discussions with LBSF regarding resolution of amounts payable to LBSF. Amounts recorded are estimates and final payments may differ from these estimates by a material amount.

In September 2006, the FASB issued Statement of Financial Accounting Standards No. 157, Fair Value Measurements ("SFAS 157"). SFAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. While the adoption of SFAS 157 does not have a material effect on the fund’s net asset value, it does require additional disclosures about fair value measurements. SFAS 157 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund’s investments. The three levels are defined as follows:

Level 1 – Valuations based on quoted prices for identical securities in active markets.

Level 2 – Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3 – Valuations based on inputs that are unobservable and significant to the fair value measurement.

The following is a summary of the inputs used to value the fund’s net assets as of July 31, 2009:

Valuation Inputs 
Investments in securities:  Level 1  Level 2  Level 3 

Common stocks:       
Basic materials  $70,239,988  $--  $-- 
Capital goods  58,258,913  --  -- 
Communication services  37,887,142  --  -- 
Conglomerates  9,464,928  --  -- 
Consumer cyclicals  71,785,466  --  -- 
Consumer staples  109,297,736  --  -- 
Energy  109,741,481  --  -- 
Financials  201,184,287  --  -- 
Health care  103,856,223  --  -- 
Technology  78,114,687  --  -- 
Transportation  23,503,579  --  -- 
Utilities and power  25,348,180  --  -- 

Total Common stocks  898,682,610  --  -- 

Purchased options outstanding  --  96,107  -- 

U.S. Treasury obligations  --  295,853  -- 

Warrants  --  1,593,541  -- 

Short-term investments  8,480,043  160,129,396  -- 

Totals by level  $907,162,653  $162,114,897  $-- 
 
 
 
  Level 1  Level 2  Level 3 

Other financial instruments:  $--  $2,820,268  $(565,558) 


Other financial instruments include futures, written options, TBA sale commitments, swaps, forward contracts and receivable purchase agreements.

The following is a reconciliation of Level 3 assets as of July 31, 2009:

        Change in net       
     Accrued    unrealized  Net  Net transfers   
  Balance as of  discounts/  Realized  appreciation/  purchases/  in and/or out  Balance as of 
  October 31, 2008 †  premiums  gain/(loss)  (depreciation)  sales  of Level 3  July 31, 2009 † 

Other financial instruments:  $(565,558)  --  --  --  --  --  $(565,558) 


Other financial instruments include futures, written options, TBA sale commitments, swaps, forward contracts and receivable purchase agreements.

† Includes amount payable under receivable purchase agreement.

Market values of Derivative Instruments as of July 31, 2009.

  Asset derivatives  Liability derivatives 
 
Derivatives not accounted for as hedging instruments under Statement 133  Market value  Market value 

 
 
Foreign exchange contracts  $5,728,499  $2,908,231 

Equity contracts  96,107  -- 

Total  $5,824,606  $2,908,231 


For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com



Item 2. Controls and Procedures:

(a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

(b) Changes in internal control over financial reporting: Not applicable

Item 3. Exhibits:

Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Putnam Global Equity Fund

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: September 29, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title):

/s/ Charles E. Porter
Charles E. Porter
Principal Executive Officer
Date: September 29, 2009

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: September 29, 2009


EX-99.CERT 2 b_globalequitycert005.htm EX-99.CERT b_globalequitycert005.htm

Certifications

I, Charles E. Porter, the Principal Executive Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting.

/s/ Charles E. Porter
_____________________________
Date: September 29, 2009
Charles E. Porter
Principal Executive Officer



Certifications

I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting.

/s/ Steven D. Krichmar
_______________________________
Date: September 29, 2009
Steven D. Krichmar
Principal Financial Officer



Attachment A 
NQ 
Period (s) ended July 31, 2009 

Putnam Mid-Cap Value Fund
The Putnam Fund for Growth and Income
Putnam Capital Opportunities Fund
Putnam Global Equity Fund
Putnam Convertible Income-Growth Trust
Putnam Managed Municipal Income Trust
Putnam Municipal Opportunities Trust
Putnam Income Fund
Putnam Global Income Trust
Putnam Absolute Return 100 Fund
Putnam Absolute Return 300 Fund
Putnam Absolute Return 500 Fund
Putnam Absolute Return 700 Fund
Putnam Absolute Return 1000 Fund
Putnam Capital Spectrum Fund
Putnam Equity Spectrum Fund
Putnam Asia Pacific Equity Fund


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