-----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, GxmNUSKYDcn/QymfCoXAj7l3LQ7nfb67e8V12u0IqkooVLr8w+uyzNQjW35zSXYL B31tZFuFwsjBHu6kCb/EOA== 0000928816-05-001519.txt : 20051129 0000928816-05-001519.hdr.sgml : 20051129 20051129091636 ACCESSION NUMBER: 0000928816-05-001519 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050930 FILED AS OF DATE: 20051129 DATE AS OF CHANGE: 20051129 EFFECTIVENESS DATE: 20051129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM EUROPE EQUITY FUND CENTRAL INDEX KEY: 0000842940 IRS NUMBER: 043083315 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05693 FILM NUMBER: 051229899 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002551581 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM EUROPE GROWTH FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM EUROPE FUND DATE OF NAME CHANGE: 19900726 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GOVERNMENT INCOME FUND DATE OF NAME CHANGE: 19900412 N-Q 1 xnn2.htm PUTNAM EUROPE EQUITY FUND 057_NQ.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: November 23, 2005
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: November 23, 2005
Steven D. Krichmar
Principal Financial Officer


Attachment A 
NQ   
Period (s) ended September 30, 2005 
 
2HF Putnam Small Cap Growth Fund   
057  Putnam Europe Equity Fund 
852  Putnam New Opportunities Fund 
2CE Putnam International Growth & Income Fund   
841  Putnam International Equity Fund 
377  Putnam Discovery Growth Fund 
2IO  Putnam VT Investors Fund 
961  Putnam VT Diversified Income Fund 
069  Putnam VT Money Market Fund 
066  Putnam VT Growth & Income Fund 
016  Putnam VT Global Equity Fund 
2LA  Putnam VT Research Fund 
152  Putnam VT Utilities Growth & Income Fund 
070  Putnam VT Global Asset Allocation Fund 
065  Putnam VT Voyager Fund 
2DQ Putnam VT Vista Fund   
2DR Putnam VT New Value Fund   
098  Putnam VT New Opportunities Fund 
2PU  Putnam VT Growth Opportunities Fund 
23K  Putnam VT Capital Opportunities Fund 
2TJ  Putnam VT Discovery Growth Fund 
068  Putnam VT Income Fund 
2MJ  Putnam VT Small Cap Value Fund 
2PX  Putnam VT American Government Income Fund 
2DP  Putnam VT International New Opportunities Fund 
23H  Putnam VT Mid Cap Value Fund 
23N  Putnam VT Equity Income Fund 
2DN   Putnam VT International Growth & Income Fund 
2DO   Putnam VT International Equity Fund 
067  Putnam VT High Yield Fund 
2IW  Putnam VT Health Sciences Fund 
2IP  Putnam VT OTC & Emerging Growth Fund 
2TP  Putnam VT Capital Appreciation Fund 
2IS  Putnam VT The George Putnam Fund of Boston 


EX-99.CERT 2 eureq1.htm EX-99.CERT 057_NQ1.pdf
Item 1. Schedule of Investments:       
 
Putnam Europe Equity Fund       

The fund's portfolio       
 
9/30/05 (Unaudited)     
COMMON STOCKS (99.0%)(a)       
 
    Shares  Value 

 
 
Belgium (7.7%)       
InBev NV    241,925  $9,597,892 
KBC Groupe SA    153,485  12,470,764 
Mobistar SA    102,696  8,467,922 
Solvay SA    34,473  4,020,659 
Umicore NV/SA    60,770  6,648,185 
      41,205,422 

 
Denmark (1.7%)       
TDC A/S    170,600  9,207,019 

 
Finland (3.2%)       
Nokia OYJ    690,850  11,609,506 
Orion-Yhtymae OYJ Class B    260,200  5,818,599 
      17,428,105 

 
France (18.3%)       
Autoroutes du Sud de la France (ASF)    76,650  4,449,136 
BNP Paribas SA    133,664  10,191,596 
Business Objects SA (NON)    123,879  4,263,547 
Christian Dior SA    60,783  5,030,254 
Credit Agricole SA    301,213  8,859,939 
France Telecom SA    372,253  10,716,174 
France Telecom SA 144A (NON)    139,939  4,028,472 
Renault SA    91,905  8,730,368 
Renault SA 144A    5,360  509,165 
Schneider Electric SA    47,182  3,736,878 
Total SA    46,371  12,694,945 
Veolia Environnement    290,918  12,313,135 
Vivendi Universal SA    393,806  12,893,752 
      98,417,361 

 
Germany (8.9%)       
BASF AG    212,300  16,021,071 
Henkel KGaA    35,888  3,055,232 
Henkel KGaA (Preference) (S)    32,900  3,001,144 
Hypo Real Estate Holding    214,047  10,889,020 
Schwarz Pharma AG    66,300  4,096,138 
Schwarz Pharma AG 144A (NON)    16,200  1,000,866 
Siemens AG    123,580  9,556,791 
      47,620,262 

 
Ireland (2.8%)       
Allied Irish Banks PLC    270,722  5,776,490 
CRH PLC    227,741  6,190,917 
Iaws Group PLC    192,627  2,798,153 
      14,765,560 

 
Italy (1.6%)       
Mediaset SpA    731,227  8,678,310 



Netherlands (10.3%)     
ING Groep NV  277,733  8,296,521 
Koninklijke (Royal) KPN NV  512,475  4,608,703 
Koninklijke (Royal) KPN NV 144A  592,887  5,331,851 
Royal Dutch Shell PLC Class A  746,364  24,715,907 
Royal Dutch Shell PLC Class B  156,108  5,406,810 
SBM Offshore NV  86,488  7,235,733 
    55,595,525 

 
Norway (2.4%)     
Norsk Hydro ASA  63,563  7,143,991 
Smedvig ASA Class A  238,400  5,866,969 
    13,010,960 

 
Spain (3.4%)     
Iberdrola SA  218,093  6,112,683 
Repsol YPF SA  371,425  12,071,417 
    18,184,100 

 
Sweden (6.7%)     
Assa Abloy AB Class B  700,600  9,927,879 
Hennes & Mauritz AB Class B  111,490  3,989,360 
Nordea AB  834,500  8,369,515 
SKF AB Class B  438,460  5,730,910 
Telefonaktiebolaget LM Ericsson AB Class B  2,203,935  8,071,559 
    36,089,223 

 
Switzerland (13.5%)     
Credit Suisse Group  341,188  15,168,029 
Novartis AG  369,602  18,825,643 
Roche Holding AG  112,001  15,624,005 
Swatch Group AG (The) Class B  18,088  2,502,204 
Swiss Re (NON)  94,635  6,240,961 
Zurich Financial Services AG (NON)  83,836  14,342,337 
    72,703,179 

 
United Kingdom (18.5%)     
AstraZeneca PLC  151,967  7,083,260 
Barclays PLC  924,218  9,367,686 
Burberry Group PLC  43,405  331,686 
Enterprise Inns PLC  356,754  5,316,699 
GlaxoSmithKline PLC  430,165  10,972,450 
Imperial Tobacco Group PLC  177,829  5,108,482 
Punch Taverns PLC  388,251  5,494,218 
Reckitt Benckiser PLC  330,855  10,107,257 
Royal Bank of Scotland Group PLC  289,249  8,232,490 
Royal Bank of Scotland Group PLC 144A  117,508  3,344,466 
Tesco PLC  2,210,517  12,102,018 
Vodafone Group PLC  8,501,026  22,180,261 
    99,640,973 

 
Total common stocks (cost $441,508,711)    $532,545,999 

 
SHORT-TERM INVESTMENTS (1.2%)(a)     

  Principal amount/Shares  Value 

  
 
Short-term investments held as collateral for loaned securities with yields     
ranging from 3.2% to 3.8% and due date of October 3, 2005 (d)  $2,828,736  $2,827,984 
Putnam Prime Money Market Fund (e)  3,334,872  3,334,872 
U.S. Treasury Bill zero %, November 3, 2005 (SEG)  400,000  398,869 

 
Total short-term investments (cost $6,561,725)    $6,561,725 

 
TOTAL INVESTMENTS     

 
Total investments (cost $448,070,436) (b)    $539,107,724 



Putnam Europe Equity Fund           
FUTURES CONTRACTS OUTSTANDING at 9/30/05 (Unaudited)         
 
  Number of    Expiration    Unrealized 
  contracts  Value  date    appreciation 

Dow Jones Euro Stoxx 50 (Long)  64  $ 2,650,944  Dec-05  $  76,260 
FTSE 100 Index (Long)  23  2,231,353  Dec-05    49,361 

Total        $  125,621 


NOTES

(a) Percentages indicated are based on net assets of $537,750,796.

(b) The aggregate identified cost on a tax basis is $451,365,163, resulting in gross unrealized appreciation and depreciation of $92,832,475 and $5,089,914, respectively, or net unrealized appreciation of $87,742,561.

(NON) Non-income-producing security.

(S) Securities on loan, in part or in entirety, at September 30, 2005.

(SEG) This security was pledged and segregated with the custodian to cover margin requirements for futures contracts at September 30, 2005.

(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. Income from securities lending is included in investment income on the statement of operations. At September 30, 2005, the value of securities loaned amounted to $2,693,219. The fund received cash collateral of $2,827,984 which is pooled with collateral of other Putnam funds into 2 issues of high-grade, short-term investments.

(e) Pursuant to an exemptive order from the Securities and Exchange Commission, the fund invests in Putnam Prime Money Market 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, LLC. Management fees paid by the fund are reduced by an amount equal to the management and administrative 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 $64,502 for the period ended September 30, 2005. During the period ended September 30, 2005, cost of purchases and cost of sales of investments in Putnam Prime Money Market Fund aggregated $40,318,690 and $47,355,570, respectively.

At September 30, 2005, liquid assets totaling $4,882,295 have been designated as collateral for open futures contracts.

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

The fund had the following industry group concentrations greater than 10% at September 30, 2005 (as a percentage of net assets):

Banking  14.4% 
Pharmaceuticals  11.8 
Oil and gas  11.5 

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 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.

Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate.

Short-term investments having remaining maturities of 60 days or less are valued at amortized cost, which approximates fair value.

Other investments, including certain restricted securities, are valued at fair value following procedures approved by the Trustees. Such valuations and procedures are reviewed periodically by the Trustees.

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. The fund may also write options on swaps or securities it owns or in which it may invest, or swaps, 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, or if the counterparty to the contract is unable to perform. Risks may exceed amounts recognized on the statement of assets and liabilities. 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 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. Futures and written option contracts outstanding at period end, if any, are listed after the fund’s portfolio.

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:

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 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.

NAME OF REGISTRANT

By (Signature and Title):

/s/ Michael T. Healy

Michael T. Healy
Principal Accounting Officer

Date: November 29, 2005

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: November 29, 2005


By (Signature and Title):


/s/ Steven D. Krichmar

Steven D. Krichmar
Principal Financial Officer

Date: November 29, 2005


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