-----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, GgyuemaoeW+LnbFYASn71WPj/fXMGKX/InO8IUCQYgUYoO5tnRzfllwgJWQMRrmn 5rL9EqFIrPjOP+taM4mdDw== 0000928816-09-000585.txt : 20090626 0000928816-09-000585.hdr.sgml : 20090626 20090626110603 ACCESSION NUMBER: 0000928816-09-000585 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090430 FILED AS OF DATE: 20090626 DATE AS OF CHANGE: 20090626 EFFECTIVENESS DATE: 20090626 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM VOYAGER FUND CENTRAL INDEX KEY: 0000081280 IRS NUMBER: 046187125 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-01682 FILM NUMBER: 09911452 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VOYAGER FUND INC /PRED/ DATE OF NAME CHANGE: 19821109 0000081280 S000006573 PUTNAM VOYAGER FUND C000017940 Class A Shares PVOYX C000017941 Class B Shares PVOBX C000017942 Class C Shares PVFCX C000017943 Class M Shares PVOMX C000017944 Class R Shares PVYRX C000017945 Class Y Shares PVYYX N-Q 1 a_voyagerfund.htm PUTNAM VOYAGER FUND a_voyagerfund.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- 01682)   
Exact name of registrant as specified in charter: Putnam Voyager 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: July 31, 2009     
Date of reporting period: April 30, 2009     

Item 1. Schedule of Investments:


Putnam Voyager Fund

The fund's portfolio
4/30/09 (Unaudited)

COMMON STOCKS (95.2%)(a)     
  Shares  Value 

 
Aerospace and defense (2.6%)     
Boeing Co. (The)  72,900  $2,919,645 
Goodrich Corp.  243,846  10,797,501 
Lockheed Martin Corp.  197,500  15,509,675 
Raytheon Co.  617,800  27,943,094 
United Technologies Corp.  229,300  11,199,012 
    68,368,927 

 
Airlines (0.7%)     
Continental Airlines, Inc. Class B (NON)  789,800  8,308,696 
Delta Air Lines, Inc. (NON)  1,034,800  6,384,716 
UAL Corp. (NON)  961,300  4,729,596 
    19,423,008 

 
Automotive (0.3%)     
Navistar International Corp. (NON)  231,400  8,746,920 
    8,746,920 

 
Beverage (0.6%)     
Coca-Cola Co. (The)  112,100  4,825,905 
PepsiCo, Inc.  226,900  11,290,544 
    16,116,449 

 
Biotechnology (4.4%)     
Amgen, Inc. (NON)  1,039,300  50,374,871 
Genzyme Corp. (NON)  1,154,600  61,574,818 
Sequenom, Inc. (NON)  504,500  1,826,290 
    113,775,979 

 
Broadcasting (2.5%)     
CBS Corp. Class B  887,918  6,250,943 
Liberty Media Corp. Class A (NON)  1,241,193  30,223,050 
Liberty Media Corp. - Capital Ser. A (NON)  1,843,477  21,568,681 
Sirius XM Radio, Inc. (NON)  18,279,730  7,118,127 
    65,160,801 

 
Building materials (0.4%)     
Masco Corp.  606,300  5,371,818 
Owens Corning, Inc. (NON)  225,500  4,036,450 
    9,408,268 

 
Cable television (3.9%)     
Comcast Corp. Class A  558,500  8,634,410 
DIRECTV Group, Inc. (The) (NON)  410,600  10,154,138 
DISH Network Corp. Class A (NON)  1,235,260  16,367,195 
Time Warner Cable, Inc.  2,054,708  66,223,239 
    101,378,982 

 
Chemicals (2.2%)     
Dow Chemical Co. (The)  526,000  8,416,000 
FMC Corp.  236,420  11,520,747 
Monsanto Co.  369,700  31,383,833 
Potash Corp. of Saskatchewan, Inc. (Canada)  62,500  5,405,625 
    56,726,205 

 
Combined utilities (0.4%)     
El Paso Corp.  1,609,200  11,103,480 
    11,103,480 

 
Commercial and consumer services (2.2%)     
Alliance Data Systems Corp. (NON)  1,350,580  56,548,785 
    56,548,785 

 
Communications equipment (4.8%)     
Cisco Systems, Inc. (NON)  2,641,700  51,037,644 
Corning, Inc.  301,800  4,412,316 
Nokia OYJ ADR (Finland)  308,000  4,355,120 
Qualcomm, Inc.  1,254,600  53,094,672 
Research in Motion, Ltd. (Canada) (NON)  159,600  11,092,200 
    123,991,952 

 
Computers (6.7%)     
Apple, Inc. (NON)  859,900  108,201,217 
Elpida Memory, Inc. (Japan) (NON)  776,400  8,274,306 
EMC Corp. (NON)  605,200  7,583,156 
Hewlett-Packard Co.  870,800  31,331,384 
NetApp, Inc. (NON)  714,000  13,066,200 


 

Palm, Inc. (NON)  192,516  2,019,493 
Seagate Technology  606,500  4,949,040 
    175,424,796 

 
Conglomerates (0.5%)     
Honeywell International, Inc.  391,500  12,218,715 
    12,218,715 

 
Consumer finance (1.6%)     
Mastercard, Inc. Class A  222,700  40,854,315 
    40,854,315 

 
Consumer goods (2.4%)     
Avon Products, Inc.  707,700  16,107,252 
Colgate-Palmolive Co.  220,200  12,991,800 
Estee Lauder Cos., Inc. (The) Class A  953,739  28,516,796 
Newell Rubbermaid, Inc.  568,100  5,936,645 
    63,552,493 

 
Electrical equipment (0.7%)     
Siemens AG ADR (Germany)  256,000  17,134,080 
    17,134,080 

 
Electronics (2.2%)     
Broadcom Corp. Class A (NON)  510,600  11,840,814 
Intel Corp.  211,600  3,339,048 
Micron Technology, Inc. (NON)  3,708,500  18,097,480 
National Semiconductor Corp.  530,100  6,557,337 
NVIDIA Corp. (NON)  891,300  10,232,124 
Texas Instruments, Inc.  355,000  6,411,300 
    56,478,103 

 
Energy (oil field) (3.8%)     
Halliburton Co.  1,221,800  24,704,796 
National-Oilwell Varco, Inc. (NON)  96,003  2,906,971 
Smith International, Inc.  676,500  17,487,525 
Transocean, Ltd. (Switzerland) (NON)  76,700  5,175,716 
Weatherford International, Ltd. (NON)  2,857,200  47,515,236 
    97,790,244 

 
Energy (other) (1.7%)     
First Solar, Inc. (NON)  233,500  43,732,215 
    43,732,215 

 
Engineering and construction (0.3%)     
KBR, Inc.  440,600  6,882,172 
    6,882,172 

 
Financial (0.4%)     
Deutsche Bank AG (Germany)  104,600  5,484,178 
Fortress Investment Group LLC Class A  177,175  613,026 
Intercontinental Exchange, Inc. (NON)  59,200  5,185,920 
    11,283,124 

 
Gaming and lottery (0.1%)     
International Game Technology  223,567  2,761,052 
    2,761,052 

 
Health-care services (3.8%)     
AmerisourceBergen Corp.  130,600  4,393,384 
Cardinal Health, Inc.  105,568  3,567,143 
Express Scripts, Inc. (NON)  492,738  31,520,450 
McKesson Corp.  608,700  22,521,900 
Medco Health Solutions, Inc. (NON)  508,500  22,145,175 
Omnicare, Inc.  185,500  4,769,205 
WellPoint, Inc. (NON)  217,000  9,278,920 
    98,196,177 

 
Homebuilding (0.5%)     
D.R. Horton, Inc.  319,500  4,169,475 
NVR, Inc. (NON)  4,300  2,173,091 
Pulte Homes, Inc.  379,000  4,362,290 
Toll Brothers, Inc. (NON)  93,100  1,886,206 
    12,591,062 

 
Insurance (2.8%)     
ACE, Ltd.  465,700  21,571,224 
Aflac, Inc.  1,032,584  29,831,352 
RenaissanceRe Holdings, Ltd.  193,200  9,401,112 
XL Capital, Ltd. Class A  1,406,200  13,372,962 
    74,176,650 

 
Investment banking/Brokerage (2.0%)     
Goldman Sachs Group, Inc. (The)  317,271  40,769,324 


 

Morgan Stanley  223,600  5,285,904 
Och-Ziff Capital Management Group Class A  515,300  3,833,832 
State Street Corp.  104,300  3,559,759 
    53,448,819 

 
 
Lodging/Tourism (0.9%)     
Las Vegas Sands Corp. (NON)  338,800  2,649,416 
Wyndham Worldwide Corp.  1,868,090  21,819,291 
    24,468,707 

 
Machinery (0.3%)     
Alstom SA (France)  141,987  8,894,172 
    8,894,172 

 
Manufacturing (0.2%)     
Flowserve Corp.  77,800  5,282,620 
    5,282,620 

 
Media (1.8%)     
News Corp., Ltd. (The) Class A  804,500  6,645,170 
Time Warner, Inc.  303,033  6,615,210 
Viacom, Inc. Class B (NON)  341,013  6,561,090 
Virgin Media, Inc.  3,348,423  25,849,826 
    45,671,296 

 
Medical technology (4.8%)     
Becton, Dickinson and Co.  43,900  2,655,072 
Boston Scientific Corp. (NON)  6,849,300  57,602,613 
Hologic, Inc. (NON)  1,883,900  27,994,754 
Hospira, Inc. (NON)  691,900  22,742,753 
Medtronic, Inc.  456,700  14,614,400 
    125,609,592 

 
Metals (1.7%)     
ArcelorMittal Class A (NY Shares) (Luxembourg)  513,147  12,100,006 
Companhia Vale do Rio Doce (CVRD) ADR (Brazil)  569,900  9,409,049 
Freeport-McMoRan Copper & Gold, Inc. Class B  222,200  9,476,830 
Lihir Gold, Ltd. (Papua New Guinea) (NON)  1,583,559  3,413,903 
Rio Tinto PLC ADR (United Kingdom)  27,500  4,481,125 
Timminco, Ltd. (Canada) (NON)  519,143  761,781 
United States Steel Corp.  95,600  2,538,180 
Xstrata PLC (United Kingdom)  328,785  2,894,611 
    45,075,485 

 
Oil and gas (4.6%)     
Chevron Corp.  429,000  28,356,900 
Hess Corp.  51,127  2,801,248 
Noble Energy, Inc.  152,200  8,637,350 
Occidental Petroleum Corp.  719,600  40,506,284 
Petroleo Brasileiro SA ADR (Brazil)  326,500  10,960,605 
Ultra Petroleum Corp. (NON)  339,200  14,517,760 
XTO Energy, Inc.  389,200  13,489,672 
    119,269,819 

 
Pharmaceuticals (4.9%)     
Abbott Laboratories  312,400  13,073,940 
Pfizer, Inc.  3,544,400  47,353,184 
Schering-Plough Corp.  975,200  22,449,104 
Teva Pharmaceutical Industries, Ltd. ADR (Israel)  56,026  2,458,981 
Wyeth  974,200  41,306,080 
    126,641,289 

 
Power producers (1.6%)     
AES Corp. (The) (NON)  5,960,033  42,137,433 
    42,137,433 

 
Regional Bells (2.1%)     
Qwest Communications International, Inc.  13,972,083  54,351,403 
    54,351,403 

 
Retail (5.2%)     
CVS Caremark Corp.  2,278,761  72,419,025 
Gap, Inc. (The)  917,900  14,264,166 
Hanesbrands, Inc. (NON)  702,200  11,558,212 
Herbalife, Ltd. (Cayman Islands)  526,800  10,441,176 
Macy's, Inc.  1,566,908  21,435,301 
Staples, Inc.  149,400  3,080,628 
Urban Outfitters, Inc. (NON)  148,600  2,896,214 
    136,094,722 

 
Semiconductor (1.0%)     
Atmel Corp. (NON)  2,486,500  9,548,160 
Formfactor, Inc. (NON)  215,999  3,764,863 
Maxim Integrated Products, Inc.  341,700  4,630,035 
Taiwan Semiconductor Manufacturing Co., Ltd. ADR     
(Taiwan)  545,200  5,762,764 


Varian Semiconductor Equipment (NON)  119,100  3,047,769 
    26,753,591 

 
Software (3.3%)     
Electronic Arts, Inc. (NON)  244,100  4,967,435 
Microsoft Corp.  2,938,100  59,525,906 
Oracle Corp.  790,000  15,278,600 
Parametric Technology Corp. (NON)  653,900  7,290,985 
    87,062,926 

 
Technology (0.1%)     
ON Semiconductor Corp. (NON)  463,200  2,510,544 
    2,510,544 

 
Technology services (1.3%)     
Google, Inc. Class A (NON)  24,600  9,740,862 
Yahoo!, Inc. (NON)  1,686,100  24,094,369 
    33,835,231 

 
Telecommunications (2.8%)     
Comverse Technology, Inc. (NON)  2,185,000  15,622,750 
EchoStar Corp. Class A (NON)  331,900  5,250,658 
Motorola, Inc.  834,400  4,614,232 
Sprint Nextel Corp. (NON)  2,736,200  11,929,832 
Telefonica SA (Spain)  1,188,265  22,613,601 
Vodafone Group PLC (United Kingdom)  1,805,306  3,321,278 
Vodafone Group PLC ADR (United Kingdom)  465,094  8,534,475 
    71,886,826 

 
Textiles (0.5%)     
Coach, Inc. (NON)  535,700  13,124,650 
    13,124,650 

 
Tobacco (1.3%)     
Lorillard, Inc.  444,800  28,080,224 
Philip Morris International, Inc.  136,600  4,944,920 
    33,025,144 

 
Toys (2.3%)     
Nintendo Co., Ltd. ADR (Japan)  1,774,838  59,723,299 
    59,723,299 

Total common stocks (cost $2,421,205,331)    $2,478,692,522 
INVESTMENT COMPANIES (2.8%)(a)     
  Shares  Value 

iShares MSCI Emerging Markets Index Fund  576,400  $16,513,860 
iShares MSCI Taiwan Index Fund  868,700  8,878,114 
KKR Private Equity Investors LP (Unit) (NON)  8,579,994  28,770,106 
SPDR S&P Homebuilders ETF  1,386,900  18,806,364 

Total investment companies (cost $58,654,438)   $72,968,444 

PURCHASED OPTIONS OUTSTANDING (0.2%)(a)  
Expiration date/      Contract   
  strike price  amount  Value 

Aflac, Inc. (Call)  Aug-09/$15.00  284,480  $4,029,972 
Alliance Data Systems Corp. (Call)  Jan-10/30.00  120,768  1,839,236 
Roche Holding AG (Call)  May-09/CHF 165.00  349,200  32,412 

Total purchased options outstanding (cost $3,201,466)      $5,901,620 
 
CONVERTIBLE BONDS AND NOTES (0.1%)(a)       
    Principal amount  Value 

Sirius Satellite Radio, Inc. cv. sr. unsec. notes       
3 1/4s, 2011    $2,852,000  $1,397,480 
XM Satellite Radio Holdings, Inc. 144A cv. sr. unsec.       
sub. notes 7s, 2014    3,864,000  1,569,750 

Total convertible bonds and notes (cost $2,811,049)      $2,967,230 
 
CONVERTIBLE PREFERRED STOCKS (0.1%)(a)       
    Shares  Value 

Citigroup, Inc. Ser. T, $3.25 cv. pfd.    58,409  $1,843,534 

Total convertible preferred stocks (cost $2,096,918)      $1,843,534 
 
PREFERRED STOCKS (0.1%)(a)       
    Shares  Value 

Citigroup, Inc. Ser. AA, $2.03 pfd.    103,043  $1,832,105 

Total preferred stocks (cost $2,089,310)      $1,832,105 
 
SHORT-TERM INVESTMENTS (0.5%)(a)       
    Principal amount/ Value 
shares

U.S. Treasury Bills for an effective yield of 0.701%,       
December 17, 2009    $1,802,000  $1,794,752 


Putnam Money Market Liquidity Fund (e)  12,196,433  12,196,433 

Total short-term investments (cost $13,991,185)    $13,991,185 
 
TOTAL INVESTMENTS     

Total investments (cost $2,504,049,697) (b)    $2,578,196,640 


FORWARD CURRENCY CONTRACTS TO SELL at 4/30/09 (aggregate face value $52,651,838) (Unaudited)

        Unrealized 
    Aggregate Delivery   appreciation/ 
  Value  face value date   (depreciation) 

Euro  $28,991,861  $29,444,726  5/20/09  $452,865 
Japanese Yen  23,435,218  23,207,112  5/20/09  (228,106) 

Total        $224,759 


Key to holding's currency abbreviations

CHF Swiss Franc

NOTES

(a) Percentages indicated are based on net assets of $2,604,605,368.

(b) The aggregate identified cost on a tax basis is $2,504,106,569, resulting in gross unrealized appreciation and depreciation of $323,018,870 and $248,928,799, respectively, or net unrealized appreciation of $74,090,071.

(NON) Non-income-producing security.

At April 30, 2009, liquid assets totaling $6,126,379 have been designated as collateral for open forward contracts and options 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 stands for American Depository Receipts, representing ownership of foreign securities on deposit with a custodian bank.

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. Market quotations are not considered to be readily available for certain debt obligations; such investments are valued at fair value on the basis of valuations furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Investment Management, LLC (“Putnam Management”), the fund’s manager, a wholly-owned subsidiary of Putnam Investments, LLC. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities and various relat ionships, generally recognized by institutional traders, between securities. 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 possible that fair value prices will be used by the fund to a significant extent.

At April 30, 2009, 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 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 at a given point in time 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 rec ords 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.

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; 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 t o by the fund and the applicable 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 counterparties to elect early termination could impact the fund's future derivative activity.

As of April 30, 2009, due to a decrease in the fund's net asset value during the year, such counterparties were entitled to elect, but had not yet elected, to terminate early, and cause settlement of all outstanding derivative and foreign exchange contracts outstanding under the applicable Master Agreements, including the payment by the fund of any losses and costs resulting from such early termination, as reasonably determined by such counterparty. At April 30, 2009, the fund had net unrealized gains of $224,759 and net unrealized losses of $- on derivative contracts subject to the Master Agreements. The fund intends to seek a waiver of or other relief from this provision, from the counterparties.


(e) The fund invested in Putnam Prime Money Market Fund, an open-end management investment company managed by Putnam Management. Investments in Putnam Prime Money Market Fund were valued at its closing net asset value each business day. Management fees paid by the fund were reduced by an amount equal to the management fees paid by Putnam Prime Money Market Fund with respect to assets invested by the fund in Putnam Prime Money Market Fund. Income distributions earned by the fund totaled $630,622 for the period ended April 30, 2009. During the period ended April 30, 2009, cost of purchases and proceeds of sales of investments in Putnam Prime Money Market Fund aggregated $92,394,233 and $287,501,451, respectively.

On September 17, 2008, the Trustees of the Putnam Prime Money Market Fund voted to close that fund effective September 17, 2008. On September 24, 2008, the fund received shares of Federated Prime Obligations Fund, an unaffiliated management investment company registered under the Investment Company Act of 1940, in liquidation of its shares of Putnam Prime Money Market Fund.

In April 2009, the fund invested in Putnam Money Market Liquidity Fund, an open-end management investment company managed by Putnam Management. 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 $3,688 for the period ended April 30, 2009. During the period ended April 30, 2009, cost of purchases and proceeds of sales of investments in Putnam Money Market Liquidity Fund aggregated $68,966,465 and $56,770,032, respectively. Management fees charged to Putnam Money Market Liquidity Fund have been waived by Putnam Management.

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 April 30, 2009:

Valuation inputs  Investments in securities  Other financial instruments 

Level 1  $2,487,507,527  $-- 

Level 2  90,689,113  224,759 

Level 3  --  -- 

Total  $2,578,196,640  $224,759 


Other financial instruments include futures, written options, TBA sale commitments, swaps and forward contracts which are valued at the unrealized appreciation/(depreciation) on the instrument.

In March 2008, Statement of Financial Accounting Standards No. 161, Disclosures about Derivative Instruments and Hedging Activities (“SFAS 161”) - an amendment of FASB Statement No. 133, was issued and is effective for fiscal years and interim periods beginning after November 15, 2008. SFAS 161 requires enhanced disclosures about how and why an entity uses derivative instruments and how derivative instruments affect an entity's financial position.

Market Values of Derivative Instruments as of April 30, 2009

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

Foreign exchange contracts  $466,448  $241,689 

 
 
Equity contracts  3,963,997  1,263,843 

Total  $4,430,445  $1,505,532 


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 Voyager Fund

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: June 26, 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: June 26, 2009

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: June 26, 2009


EX-99.CERT 2 b_cert007.htm EX-99.CERT b_cert007.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: June 25, 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: June 25, 2009
Steven D. Krichmar
Principal Financial Officer


Attachment A
NQ
Period (s) ended April 30, 2009

Putnam AMT- Free Municipal Fund 
Putnam Tax-Free High Yield Fund 
The George Putnam Fund of Boston 
Putnam Voyager Fund 
Putnam Research Fund 
Putnam Vista Fund 
Putnam Premier Income Trust 
Putnam Investors Fund 
Putnam Growth Opportunities Fund 
 
Putnam RetirementReady 2050 Fund 
Putnam RetirementReady 2045 Fund 
Putnam RetirementReady 2040 Fund 
Putnam RetirementReady 2035 Fund 
Putnam RetirementReady 2030 Fund 
Putnam RetirementReady 2025 Fund 
Putnam RetirementReady 2020 Fund 
Putnam RetirementReady 2015 Fund 
Putnam RetirementReady 2010 Fund 
Putnam RetirementReady Maturity Fund 


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