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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 registrants 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 registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer and I have disclosed to each registrants auditors and the audit committee of each registrants 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
registrants 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 registrants 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 registrants 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 registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer and I have disclosed to each registrants auditors and the audit committee of each registrants 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 registrants 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 registrants 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 |
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 funds 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 funds 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 |