-----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, HqxLRZSVt20aLR2kAJqaHAelV1vnNB9lMylZ9m+BYBfILd6Wxv2IvxcMWOnPJdnj 3uGMOGF5IV0hhfdCl7265g== 0000928816-10-000410.txt : 20100331 0000928816-10-000410.hdr.sgml : 20100331 20100331112718 ACCESSION NUMBER: 0000928816-10-000410 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100131 FILED AS OF DATE: 20100331 DATE AS OF CHANGE: 20100331 EFFECTIVENESS DATE: 20100331 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: 10717184 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, 2010     
 
Date of reporting period: January 31, 2010     

Item 1. Schedule of Investments:



Putnam Global Equity Fund

The fund's portfolio
1/31/10 (Unaudited)

COMMON STOCKS (98.8%)(a)     
  Shares  Value 

 
Aerospace and defense (3.7%)     
BAE Systems PLC (United Kingdom)  1,780,415  $10,023,994 
Bombardier, Inc. (Canada)  699,000  3,295,566 
L-3 Communications Holdings, Inc.  243,600  20,301,624 
    33,621,184 

 
Agriculture (2.6%)     
Archer Daniels Midland Co. (S)  691,500  20,724,255 
Wilmar International, Ltd. (Singapore)  526,000  2,466,093 
    23,190,348 

 
Airlines (1.8%)     
Qantas Airways, Ltd. (Australia)  1,769,474  4,449,406 
Singapore Airlines, Ltd. (Singapore)  1,174,000  11,542,886 
    15,992,292 

 
Automotive (2.5%)     
Magna International, Inc. Class A (Canada)  281,000  15,461,572 
Nissan Motor Co., Ltd. (Japan) (NON)  545,200  4,445,189 
Oshkosh Corp.  67,800  2,445,546 
    22,352,307 

 
Banking (6.5%)     
Bank of China Ltd. (China)  14,096,000  6,808,692 
DBS Group Holdings, Ltd. (Singapore)  706,000  7,172,510 
National Bank of Greece SA (Greece) (NON)  291,760  6,322,407 
State Street Corp.  384,300  16,478,784 
Sumitomo Mitsui Financial Group, Inc. 144A (Japan)  76,800  2,497,042 
Wells Fargo & Co.  672,600  19,122,018 
    58,401,453 

 
Basic materials (1.4%)     
Antofagasta PLC (United Kingdom)  522,135  7,303,645 
Sumitomo Metal Mining Co., Ltd. (Japan)  385,000  5,382,408 
    12,686,053 

 
Biotechnology (1.1%)     
Amgen, Inc. (NON)  137,597  8,046,673 
Sinovac Biotech, Ltd. (China) (NON)  297,000  1,782,000 
    9,828,673 

 
Broadcasting (1.5%)     
Liberty Media-Starz Ser. A (NON)  79,600  3,733,240 
Mediaset SpA (Italy)  1,300,290  9,846,239 
    13,579,479 

 
Cable television (2.1%)     
Comcast Corp. Class A  253,700  4,016,071 
DISH Network Corp. Class A  180,600  3,297,756 
Time Warner Cable, Inc. (S)  265,600  11,577,504 
    18,891,331 

 
Chemicals (2.8%)     
Ashland, Inc.  465,200  18,798,732 
Cabot Corp.  259,200  6,682,176 
    25,480,908 

 
Commercial and consumer services (0.3%)     
AerCap Holdings NV (Netherlands) (NON)  233,516  2,043,265 
Genesis Lease, Ltd. ADR (Ireland)  57,280  501,200 
    2,544,465 

 
Computers (2.2%)     
Western Digital Corp. (NON)  517,200  19,648,428 
    19,648,428 

 
Conglomerates (2.2%)     
Mitsubishi Corp. (Japan)  299,700  7,260,927 
Mitsui & Co., Ltd. (Japan)  191,300  2,822,772 
Noble Group, Ltd. (Hong Kong)  3,271,000  6,702,106 
Vivendi SA (France)  130,998  3,391,289 
    20,177,094 

 
Construction (0.3%)     
Buzzi Unicem SpA (Italy)  157,500  2,330,546 



    2,330,546 

 
Consumer goods (1.2%)     
Colgate-Palmolive Co.  138,800  11,108,164 
    11,108,164 

 
Electric utilities (1.2%)     
E.ON AG (Germany)  45,548  1,672,372 
RWE AG (Germany)  104,806  9,288,256 
    10,960,628 

 
Electrical equipment (0.4%)     
Prysmian SpA (Italy)  182,599  3,325,211 
    3,325,211 

 
Electronics (8.8%)     
AU Optronics Corp. (Taiwan)  18,207,000  20,435,207 
Compal Electronics, Inc. (Taiwan)  1,997,000  2,788,460 
Coretronic Corporation (Taiwan)  3,930,000  5,598,291 
Garmin, Ltd. (S)  195,800  6,326,298 
Intel Corp.  670,600  13,009,640 
Media Tek, Inc. (Taiwan)  427,000  6,951,567 
Quanta Computer, Inc. (Taiwan)  2,761,000  5,523,556 
Texas Instruments, Inc.  830,400  18,684,000 
    79,317,019 

 
Energy (oil field) (0.5%)     
Noble Corp. (Switzerland)  118,900  4,794,048 
    4,794,048 

 
Engineering and construction (0.4%)     
Aveng, Ltd. (South Africa)  822,109  3,829,995 
    3,829,995 

 
Financials (1.3%)     
Discover Financial Services  609,500  8,337,960 
ORIX Corp. (Japan)  47,990  3,615,066 
    11,953,026 

 
Forest products and packaging (1.7%)     
Domtar Corp. (Canada) (NON)  141,000  6,848,370 
International Paper Co.  361,800  8,288,838 
    15,137,208 

 
Gaming and lottery (1.0%)     
Greek Organization of Football Prognostics (OPAP) SA     
(Greece)  396,912  8,691,101 
    8,691,101 

 
Health-care services (1.3%)     
UnitedHealth Group, Inc.  355,100  11,718,300 
    11,718,300 

 
Homebuilding (0.3%) 
Daito Trust Construction Co., Ltd. (Japan)   55,700   2,659,433 
   2,659,433 

Insurance (5.1%)     
Allied World Assurance Company Holdings, Ltd. (Bermuda)  83,600  3,741,936 
Aspen Insurance Holdings, Ltd. (Bermuda)  127,900  3,405,977 
AXA SA (France)  555,519  11,491,873 
PartnerRe, Ltd.  70,900  5,288,431 
Zurich Financial Services AG (Switzerland)  102,738  21,774,129 
    45,702,346 

 
Investment banking/Brokerage (3.3%)     
Bond Street Holdings, LLC Class A (F)(NON)  138,315  2,766,300 
Gartmore Group, Ltd. 144A (United Kingdom) (NON)  1,057,297  3,601,016 
Goldman Sachs Group, Inc. (The)  158,100  23,512,632 
    29,879,948 

 
Machinery (0.5%)     
Timken Co.  219,200  4,912,272 
    4,912,272 

 
Metals (3.0%)     
ArcelorMittal South Africa, Ltd. (South Africa)  165,505  2,283,415 
BHP Billiton, Ltd. (Australia)  110,630  3,859,301 
Boliden AB (Sweden)  513,150  6,847,713 
Eurasian Natural Resources Corp. (United Kingdom)  260,472  3,727,747 
Quadra Mining, Ltd. (Canada) (NON)  341,200  4,567,420 
Tokyo Steel Manufacturing Co., Ltd. (Japan)  100,300  1,000,000 
voestalpine AG (Austria)  127,856  4,440,866 
    26,726,462 

 
Natural gas utilities (0.2%)     
UGI Corp.  91,300  2,237,763 



    2,237,763 

 
Office equipment and supplies (0.8%)     
Canon, Inc. (Japan)  182,400  7,142,838 
    7,142,838 

 
Oil and gas (10.2%)     
BP PLC (United Kingdom)  606,592  5,678,777 
Cairn Energy PLC (United Kingdom) (NON)  608,460  3,137,054 
Marathon Oil Corp.  277,000  8,257,370 
Oil States International, Inc. (NON) (S)  248,100  9,140,004 
OMV AG (Austria)  327,767  12,908,820 
Petroleo Brasileiro SA ADR (Brazil)  65,500  2,657,335 
Royal Dutch Shell PLC Class A (United Kingdom)  1,039,820  29,115,342 
StatoilHydro ASA (Norway)  966,450  21,639,775 
    92,534,477 

 
Pharmaceuticals (9.5%)     
Astellas Pharma, Inc. (Japan)  100,600  3,722,211 
AstraZeneca PLC (United Kingdom)  191,744  8,917,403 
Eli Lilly & Co.  448,100  15,773,120 
Forest Laboratories, Inc. (NON)  81,900  2,427,516 
Johnson & Johnson  184,400  11,591,384 
Pfizer, Inc.  1,523,063  28,420,356 
Roche Holding AG (Switzerland)  86,659  14,556,792 
    85,408,782 

 
Publishing (3.1%)     
R. R. Donnelley & Sons Co.  1,036,400  20,541,448 
Yellow Pages Income Fund (Unit) (Canada) (S)  1,480,700  7,271,913 
    27,813,361 

 
Real estate (1.3%)     
Hospitality Properties Trust (R)  230,100  5,089,812 
HRPT Properties Trust (R)  710,643  4,739,989 
Japan Retail Fund Investment Corp. (Japan) (R)  461  2,144,899 
    11,974,700 

 
Regional Bells (0.5%)     
Verizon Communications, Inc.  141,500  4,162,930 
    4,162,930 

 
Retail (0.8%)     
Barnes & Noble, Inc. (S)  153,800  2,688,424 
Marks & Spencer Group PLC (United Kingdom)  769,320  4,278,741 
    6,967,165 

 
Semiconductor (0.5%)     
Macronix International (Taiwan)  8,209,159  4,587,630 
    4,587,630 

 
Shipping (0.7%)     
D/S Norden (Denmark)  148,186  6,424,007 
    6,424,007 

 
Software (0.5%)     
Longtop Financial Technologies Ltd. ADR (China) (NON)     
(S)  68,000  2,356,880 
Oracle Corp.  106,500  2,455,890 
    4,812,770 

 
Technology services (2.8%)     
Computer Sciences Corp. (NON)  88,000  4,514,400 
Ingram Micro, Inc. Class A (NON)  1,258,100  21,261,890 
    25,776,290 

 
Telecommunications (0.3%)     
Telecity Group PLC (United Kingdom) (NON)  452,310  2,828,546 
    2,828,546 

 
Telephone (3.4%)     
Nippon Telegraph & Telephone (NTT) Corp. (Japan)  375,400  15,844,400 
Qwest Communications International, Inc.  3,676,800  15,479,328 
    31,323,728 

 
Tobacco (3.1%)     
Altria Group, Inc.  421,500  8,370,990 
Philip Morris International, Inc.  423,900  19,291,689 
    27,662,679 

 
Utilities (other) (0.1%)     
China Longyuan Power Group Corp. 144A (China) (NON)  579,000  715,957 



    715,957 

Total common stocks (cost $920,602,060)    $891,813,345 
 
U.S. TREASURY OBLIGATIONS (--%)(a)     
  Principal amount  Value 

U.S. Treasury Notes 3.375%, June 30, 2013 (i)  $30,000  $31,873 

Total U.S. treasury obligations (cost $31,873)    $31,873 
 
SHORT-TERM INVESTMENTS (4.6%)(a)     
  Principal amount/shares  Value 

Putnam Money Market Liquidity Fund (e)  12,625,967  $12,625,967 
Short-term investments held as collateral for loaned     
securities with yields ranging from 0.08% to 0.27% and     
due dates ranging from February 1, 2010 to     
March 23, 2010 (d)  $26,636,363  26,634,461 
SSgA Prime Money Market Fund (i)  49,000  49,000 
U.S. Treasury Bills for an effective yield of zero %,     
May 13, 2010 (i)  100,000  99,980 
U.S. Treasury Bills for effective yields ranging from     
0.36% to 0.39%, November 18, 2010 (SEGSF)  482,000  480,459 
U.S. Treasury Bills for effective yields ranging from     
0.37% to 0.44%, April 1, 2010 (SEGSF)  1,155,000  1,154,112 
U.S. Treasury Bills for effective yields ranging from     
0.38% to 0.40%, February 11, 2010 (SEGSF)  310,000  309,966 

Total short-term investments (cost $41,354,131)    $41,353,945 
 
TOTAL INVESTMENTS     

Total investments (cost $961,988,064) (b)    $933,199,163 



FORWARD CURRENCY CONTRACTS TO BUY at 1/31/10 (aggregate face value $181,769,250) (Unaudited)   
        Unrealized 
    Aggregate  Delivery  appreciation/ 
  Value  face value  date  (depreciation) 

Australian Dollar  $32,743,634  $33,703,280  2/22/10  $(959,646) 
British Pound  16,309,662  16,438,034  2/22/10  (128,372) 
Canadian Dollar  14,784,850  15,199,727  2/22/10  (414,877) 
Euro  57,666,601  59,811,864  2/22/10  (2,145,263) 
Hong Kong Dollar  5,161,859  5,167,961  2/22/10  (6,102) 
Japanese Yen  36,147,617  35,663,158  2/22/10  484,459 
Norwegian Krone  2,227,883  2,312,155  2/22/10  (84,272) 
Swedish Krona  7,972,444  8,306,289  2/22/10  (333,845) 
Swiss Franc  5,027,160  5,166,782  2/22/10  (139,622) 

Total        $(3,727,540) 



FORWARD CURRENCY CONTRACTS TO SELL at 1/31/10 (aggregate face value $82,892,104) (Unaudited)   
        Unrealized 
    Aggregate  Delivery  appreciation/ 
  Value  face value  date  (depreciation) 

Australian Dollar  $6,160,826  $6,341,759  2/22/10  $180,933 
British Pound  5,656,278  5,698,256  2/22/10  41,978 
Canadian Dollar  2,260,107  2,322,726  2/22/10  62,619 
Danish Krone  3,262,031  3,394,930  2/22/10  132,899 
Euro  1,663,858  1,730,371  2/22/10  66,513 
Hong Kong Dollar  3,006,029  3,004,281  2/22/10  (1,748) 
Japanese Yen  155,884  153,456  2/22/10  (2,428) 
Norwegian Krone  22,039,449  22,869,137  2/22/10  829,688 
Singapore Dollar  23,657,780  23,826,199  2/22/10  168,419 
Swedish Krona  3,506,906  3,653,578  2/22/10  146,672 
Swiss Franc  9,632,962  9,897,411  2/22/10  264,449 

Total        $1,889,994 



Key to holding's abbreviations

ADR American Depository Receipts

NOTES

(a) Percentages indicated are based on net assets of $902,367,484.

(b) The aggregate identified cost on a tax basis is $961,188,848, resulting in gross unrealized appreciation and depreciation of $67,851,501 and $96,841,186, respectively, or net unrealized depreciation of $28,989,685.

(NON) Non-income-producing security.

(SEGSF) These securities, in part or in entirety, were pledged and segregated with the custodian for collateral on certain derivative contracts at January 31, 2010.

(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 January 31, 2010, the value of securities loaned amounted to $25,419,336. The fund received cash collateral of $26,634,461 which is pooled with collateral of other Putnam funds into 38 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 $5,480 for the period ended January 31, 2010. During the period ended January 31, 2010, cost of purchases and proceeds of sales of investments in Putnam Money Market Liquidity Fund aggregated $110,687,998 and $98,551,281, respectively. Management fees charged to Putnam Money Market Liquidity Fund have been waived by Putnam Management.

(F) Is valued at fair value following procedures approved by the Trustees. Securities may be classified as Level 2 or Level 3 for Accounting Standards Codification ASC 820 Fair Value Measurements and Disclosures ("ASC 820") based on the securities valuation inputs. On January 31, 2010, fair value pricing was also used for certain foreign securities in the portfolio.

(i) Securities purchased with cash or securities 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 January 31, 2010.

At January 31, 2010, liquid assets totaling $5,370,280 have been segregated to cover certain derivatives contracts.

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 January 31, 2010 (as a percentage of Portfolio Value):

United States  51.8% 
United Kingdom  8.7 
Japan  6.5 
Taiwan  5.1 
Switzerland  4.5 
Canada  4.1 
Norway  2.4 
Singapore  2.3 
Austria  1.9 



Italy  1.7 
Greece  1.7 
France  1.6 
China  1.3 
Germany  1.2 
Australia  0.9 
Bermuda  0.8 
Sweden  0.8 
Hong Kong  0.7 
Denmark  0.7 
South Africa  0.7 
Other  0.6 

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 poss ible that fair value prices will be used by the fund to a significant extent. At January 31, 2010, fair value pricing was used for certain foreign securities in the portfolio. 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 that 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.

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 on Forward currency contracts at the period ended January 31, 2010 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 $179,982 at January 31, 2010. 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 th e fund’s counterparties to elect early termination could impact the fund's future derivative activity.

At January 31, 2010, the fund had a net liability position of $2,490,855 on derivative contracts subject to the Master Agreements. Collateral posted by the fund totaled $299,802.

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 following 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.



ASC 820 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 January 31, 2010:

      Valuation inputs   

Investments in securities:    Level 1  Level 2  Level 3 

Common stocks:         

  Basic materials  $78,617,593  $26,933,932  $-- 

  Capital goods  35,652,300  17,179,200  -- 

  Communication services  54,377,989  2,828,546  -- 

  Conglomerates  16,785,805  3,391,289  -- 

  Consumer cyclicals  61,791,230  22,816,081  -- 

  Consumer staples  38,770,843  --  -- 

  Energy  24,848,757  72,479,768  -- 

  Financials  111,955,748  43,189,425  2,766,300 

  Health care  83,481,560  23,474,195  -- 

  Technology  134,142,137  --  -- 

  Transportation  15,992,292  6,424,007  -- 

  Utilities and power  2,953,720  10,960,628  -- 

Total common stocks    659,369,974  229,677,071  2,766,300 

U.S. treasury obligations    --  31,873  -- 

Short-term investments    12,674,967  28,678,978  -- 

Totals by level    $672,044,941  $258,387,922  $2,766,300 

 
 
 
 
    Level 1  Level 2  Level 3 

Other financial instruments:    $--  $(1,837,546)  $(532,787) 


Other financial instruments include forward currency contracts and receivable purchase agreements.

The following is a reconciliation of Level 3 assets as of January 31, 2010:

Investments in securities:          Change in net    Net   
    Balance as of      unrealized  Net  transfers in  Balance as of 
    October  Accrued  Realized  appreciation/  purchases/  and/or out  January 
    31, 2009  discounts/premiums  gain/(loss)  (depreciation)  sales  of Level 3  31, 2010 

Common stocks:                 

  Financials  $--  $--  $--  $--  $2,766,300  $--  $2,766,300 

Total common stocks    $--  --  --  --  2,766,300  --  $2,766,300 

Totals:    $--  $--  $--  $--  $2,766,300  $--  $2,766,300 
 
 
 
 
          Change in net    Net   
    Balance as of      unrealized  Net  transfers in  Balance as of 
    October 31,  Accrued  Realized  appreciation/  purchases/  and/or out  January 31, 
    2009 ††  discounts/premiums  gain/(loss)  (depreciation) †  sales  of Level 3  2010 †† 

Other financial instruments:    $(504,440)  $--  $--  $(28,347)  $--  $--  $(532,787) 


† Includes $(28,347) related to Level 3 securities still held at period end.

†† Includes amount payable under receivable purchase agreement.

Market Values of Derivative Instruments as of January 31, 2010

  Asset derivatives  Liability derivatives 
 
Derivatives not accounted for as hedging instruments under ASC 815  Market value  Market value 

 
 
Foreign exchange contracts  $2,378,630  $4,216,176 

Total  $2,378,630  $4,216,176 


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: March 31, 2010

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/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: March 31, 2010

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: March 31, 2010


EX-99.CERT 2 b_globalequitycert.htm EX-99.CERT b_globalequitycert.htm

Certifications

I, Jonathan S. Horwitz, 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/ Jonathan S. Horwitz
_____________________________
Date: March 30, 2010
Jonathan S. Horwitz
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: March 30, 2010
Steven D. Krichmar
Principal Financial Officer



Attachment A 
NQ 
Period (s) ended January 31, 2010 

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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