PUTNAM VOYAGER FUND

                     Supplement dated February 25, 1994
                  to Prospectuses dated December 1, 1993,
                        as revised February 1, 1994


Matthew A. Weatherbie, Managing Director of Putnam Investment
Management, Inc. ("Putnam Management"), Douglas S. Foreman,
Senior Vice President of Putnam Management, and Charles H.
Swanberg, Senior Vice President of Putnam Management, each of
whom is a Vice President of the Fund, are primarily responsible
for the day-to-day management of the Fund's portfolio.  Mr.
Weatherbie has had this responsibility since October, 1983, and
Messrs. Foreman and Swanberg have had this responsibility since
February, 1994.  Messrs. Weatherbie, Foreman and Swanberg have
been employed by Putnam Management for the past five years.