EX-99

Report of Independent Registered Public Accounting Firm


To the Trustees and Shareholders of Putnam Multi Cap Growth
Fund:

In planning and performing our audit of the financial
statements of Putnam Multi Cap Growth Fund (the Fund) as of
and for the year ended June 30, 2013, in accordance with the
standards of the Public Company Accounting Oversight Board
(United States), we considered the Funds internal control
over financial reporting, including controls over
safeguarding securities, as a basis for designing our
auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the
requirements of Form N SAR, but not for the purpose of
expressing an opinion on the effectiveness of the Funds
internal control over financial reporting.  Accordingly, we
do not express an opinion on the effectiveness of the Funds
internal control over financial reporting.

The management of the Fund is responsible for establishing
and maintaining effective internal control over financial
reporting.  In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected
benefits and related costs of controls.  A funds internal
control over financial reporting is a process designed 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.  A funds internal
control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect
the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions
are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the fund
are being made only in accordance with authorizations of
management and trustees of the company; and (3) provide
reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use or disposition of
a funds assets that could have a material effect on the
financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that
the degree of compliance with the policies or procedures may
deteriorate.

A deficiency in internal control over financial reporting
exists when the design or operation of a control does not
allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect
misstatements on a timely basis.  A material weakness is a
deficiency, or a combination of deficiencies, in internal
control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the
Funds annual or interim financial statements will not be
prevented or detected on a timely basis.

Our consideration of the Funds internal control over
financial reporting was for the limited purpose described in
the first paragraph and would not necessarily disclose all
deficiencies in internal control over financial reporting
that might be material weaknesses under standards
established by the Public Company Accounting Oversight Board
(United States).  However, we noted no deficiencies in the
Funds internal control over financial reporting and its
operation, including controls over safeguarding securities,
that we consider to be material weaknesses as defined above
as of June 30, 2013.

This report is intended solely for the information and use
of management and the Board of Trustees of Putnam Multi Cap
Growth Fund and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other
than these specified parties.



/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts
August 13, 2013





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PricewaterhouseCoopers LLP, 125 High Street, Boston, MA 02110
T: (617) 530 5000, F:(617) 530 5001, www.pwc.com/us

EX-99

New accounting pronouncement

In January 2013, ASU 2013 01, Clarifying the Scope of
Disclosures about Offsetting Assets and Liabilities, amended ASU
No. 2011 11, Disclosures about Offsetting Assets and
Liabilities. The ASUs create new disclosure requirements
requiring entities to disclose both gross and net information
for derivatives and other financial instruments that are either
offset in the Statement of assets and liabilities or subject to
an enforceable master netting arrangement or similar agreement.
The disclosure requirements are effective for annual reporting
periods beginning on or after January 1, 2013 and interim
periods within those annual periods. Putnam Management is
currently evaluating the application of ASUs 2013 01 and 2011 11
and their impact, if any, on the funds financial statements.

EX-99

Putnam Multi Cap Growth Fund, 6/30/13, annual report

Because the electronic format for filing Form NSAR does not
provide adequate space for responding to certain items correctly,
the correct answers are as follows:

72DD1    (000s omitted)

Class A  11,613

72DD2    (000s omitted)

Class R  13
Class Y  782

73A1

Class A  0.227

73A2

Class R  0.094
Class Y  0.369

74U1	(000s omitted)

Class A  48,216
Class B	 1,765
Class C	 896
Class M	 845

74U2	(000s omitted)

Class R	 121
Class Y	 2,059

74V1

Class A	 62.31
Class B	 53.11
Class C	 56.37
Class M	 56.62

74V2

Class R	 60.96
Class Y	 65.37

Item 61

Additional Information About Minimum Required Investment

Shareholders can open a fund account with as little as $500 and
make subsequent investments in any amount. The minimum investment
is waived if you make regular investments weekly, semimonthly, or
monthly through automatic deductions through your bank checking
or savings account. Currently, Putnam is waiving the minimum, but
reserves the right to reject initial investments under the
minimum.

Item 85B

Additional Information About Errors and Omissions Policy

While no claims with respect to the Registrant/Series were filed
under such policy during the period, requests under such policy
for reimbursement of legal expenses and costs arising out of
claims of market timing activity in the Putnam Funds have been
submitted by the investment manager of the Registrant/Series.