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0000928816-18-000272.txt : 20180206 0000928816-18-000272.hdr.sgml : 20180206 20180206115620 ACCESSION NUMBER: 0000928816-18-000272 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 15 FILED AS OF DATE: 20180206 DATE AS OF CHANGE: 20180206 EFFECTIVENESS DATE: 20180206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MULTI-CAP GROWTH FUND CENTRAL INDEX KEY: 0000865177 IRS NUMBER: 043091455 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-35576 FILM NUMBER: 18576752 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM NEW OPPORTUNITIES FUND DATE OF NAME CHANGE: 19920703

0000865177 S000006295 PUTNAM MULTI-CAP GROWTH FUND

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497 1 a_mcgsumsupp.htm PUTNAM MULTI-CAP GROWTH FUND a_mcgsumsupp.htm


Prospectus Supplement	January 17, 2018

Putnam Multi-Cap Growth Fund
Prospectus dated October 30, 2017

Effective January 17, 2018, the sub-section Portfolio manager in the section Your fund’s management is replaced in its entirety with the following:

Portfolio managers
Katherine Collins, Head of Sustainable Investing, portfolio manager of the fund since 2018
R. Shepherd Perkins, Portfolio Manager, portfolio manager of the fund since 2018

Putnam Investment Management, LLC (“Putnam Management) has recommended changes to the fund’s investment strategy in order to incorporate sustainability criteria, as described in more detail below. Putnam Management currently anticipates that the changes will be effective on or about March 19, 2018 (the Effective Date).

Implementing these changes in the fund’s portfolio will result in certain brokerage commission and other transaction costs, which are expected to be incurred largely in March 2018. Depending on market conditions at the time, these changes could also result in realization of capital gains.

On the Effective Date, the fund’s name will change to “Putnam Sustainable Leaders Fund,” and the fund’s principal investment strategies and principal risks will be changing as described below. Accordingly, on the Effective Date, the following changes are made in the fund’s Summary Prospectus:

• All references in the Summary Prospectus to Putnam Multi-Cap Growth Fund are deleted and replaced with “Putnam Sustainable Leaders Fund.”

• Similar information in the sub-sections Investments and Risks in the section Investments, risks and performance is superseded and replaced with the following:

Investments

We invest mainly in common stocks of U.S. companies of any size, with a focus on growth stocks of companies that we believe exhibit a commitment to sustainable business practices. Growth stocks are stocks of companies whose earnings are expected to grow faster than those of similar firms, and whose business growth and other characteristics may lead to an increase in stock price. We consider sustainability factors, as described below, and may consider other factors, such as a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments.

Sustainable investing. In selecting investments, we focus on companies that we believe have a demonstrated commitment to sustainable business practices. This commitment may be reflected through environmental, social and/or corporate governance (ESG) policies, practices or outcomes.

Risks

It is important to understand that you can lose money by investing in the fund.

The value of stocks in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors.

Investing with a focus on companies that exhibit a commitment to sustainable business practices may cause the fund to forego otherwise attractive investment opportunities or may increase or decrease the fund’s exposure to certain types of companies and, therefore, to underperform funds that do not invest with a similar focus. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. In addition, a company’s business practices may change over time. As a result of these possibilities, the fund may temporarily hold securities that are inconsistent with the fund’s sustainable investment criteria.

The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

The rest of the section remains the same.

Shareholders should retain this Supplement for future reference.

309842 – 1/18

EX-101.INS 2 pif-20180202.xml XBRL INSTANCE FILE 0000865177 2018-02-02 2018-02-02 0000865177 PIF:S000006295Member 2018-02-02 2018-02-02 iso4217:USD xbrli:pure 497 2017-12-31 PUTNAM MULTI-CAP GROWTH FUND 0000865177 false PIF 2018-02-02 2018-01-31 2017-04-30 <div style="padding-left: 0%; padding-right: 0%"><div align="left"> <table border="0" cellspacing="0" style="width: 80%"><tr style="vertical-align: bottom"><td nowrap="nowrap" style="border-bottom: #000000 1px solid; text-align: left"> Prospectus Supplement </td> <td nowrap="nowrap" style="text-align: right; border-bottom: #000000 1px solid">January 17, 2018 </td></tr> <tr> <td colspan="2"> </td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left">Putnam Multi-Cap Growth Fund </td> <td nowrap="nowrap" style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left">Prospectus dated October 30, 2017 </td> <td nowrap="nowrap" style="text-align: left"> </td></tr></table></div>   Effective January 17, 2018, the sub-section Portfolio manager in the section Your fund’s management is replaced in its entirety with the following: Portfolio managers Katherine Collins, Head of Sustainable Investing, portfolio manager of the fund since 2018 R. Shepherd Perkins, Portfolio Manager, portfolio manager of the fund since 2018 <div align="left"> <table border="0" cellspacing="0" style="width: 80%"> <tr> <td style="width: 54%"></td> <td style="width: 46%"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; border-bottom: #000000 2px double"> </td> <td nowrap="nowrap" style="text-align: right; border-bottom: #000000 2px double"> </td></tr> <tr> <td colspan="2"> </td></tr></table></div> Putnam Investment Management, LLC (“Putnam Management) has recommended changes to the fund’s investment strategy in order to incorporate sustainability criteria, as described in more detail below. Putnam Management currently anticipates that the changes will be effective on or about March 19, 2018 (the Effective Date). Implementing these changes in the fund’s portfolio will result in certain brokerage commission and other transaction costs, which are expected to be incurred largely in March 2018. Depending on market conditions at the time, these changes could also result in realization of capital gains. On the Effective Date, the fund’s name will change to “Putnam Sustainable Leaders Fund,” and the fund’s principal investment strategies and principal risks will be changing as described below. Accordingly, on the Effective Date, the following changes are made in the fund’s Summary Prospectus: • All references in the Summary Prospectus to Putnam Multi-Cap Growth Fund are deleted and replaced with “Putnam Sustainable Leaders Fund.” • Similar information in the sub-sections Investments and Risks in the section Investments, risks and performance is superseded and replaced with the following: Investments We invest mainly in common stocks of U.S. companies of any size, with a focus on growth stocks of companies that we believe exhibit a commitment to sustainable business practices. Growth stocks are stocks of companies whose earnings are expected to grow faster than those of similar firms, and whose business growth and other characteristics may lead to an increase in stock price. We consider sustainability factors, as described below, and may consider other factors, such as a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments.</div> <hr align="center" size="2" noshade="noshade" style="width: 100%" /> <div style="padding-left: 0%; padding-right: 0%"> Sustainable investing. In selecting investments, we focus on companies that we believe have a demonstrated commitment to sustainable business practices. This commitment may be reflected through environmental, social and/or corporate governance (ESG) policies, practices or outcomes. Risks It is important to understand that you can lose money by investing in the fund. The value of stocks in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Investing with a focus on companies that exhibit a commitment to sustainable business practices may cause the fund to forego otherwise attractive investment opportunities or may increase or decrease the fund’s exposure to certain types of companies and, therefore, to underperform funds that do not invest with a similar focus. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. In addition, a company’s business practices may change over time. As a result of these possibilities, the fund may temporarily hold securities that are inconsistent with the fund’s sustainable investment criteria. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The rest of the section remains the same. <div align="left"> <table border="0" cellspacing="0" style="width: 80%"> <tr> <td style="width: 100%"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: center">Shareholders should retain this Supplement for future reference. </td></tr></table></div>   <img border="0" src="sumlogo.jpg" alt="sumlogo.jpg" /> <div align="left"> <table border="0" cellspacing="0" style="width: 80%"> <tr> <td style="width: 100%"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: right">309842 – 1/18 </td></tr></table></div></div> Investments We invest mainly in common stocks of U.S. companies of any size, with a focus on growth stocks of companies that we believe exhibit a commitment to sustainable business practices. Growth stocks are stocks of companies whose earnings are expected to grow faster than those of similar firms, and whose business growth and other characteristics may lead to an increase in stock price. We consider sustainability factors, as described below, and may consider other factors, such as a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. Sustainable investing. In selecting investments, we focus on companies that we believe have a demonstrated commitment to sustainable business practices. This commitment may be reflected through environmental, social and/or corporate governance (ESG) policies, practices or outcomes Risks It is important to understand that you can lose money by investing in the fund. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. It is important to understand that you can lose money by investing in the fund. The value of stocks in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Investing with a focus on companies that exhibit a commitment to sustainable business practices may cause the fund to forego otherwise attractive investment opportunities or may increase or decrease the fund’s exposure to certain types of companies and, therefore, to underperform funds that do not invest with a similar focus. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. In addition, a company’s business practices may change over time. As a result of these possibilities, the fund may temporarily hold securities that are inconsistent with the fund’s sustainable investment criteria. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. 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S_@G#\,/%OPY^#>L?$7QIJ7Q&\ XML 9 R1.htm IDEA: XBRL DOCUMENT

Putnam Multi-Cap Growth Supplement

Feb. 02, 2018

Risk/Return:

Supplement Text

Prospectus Supplement	January 17, 2018

Putnam Multi-Cap Growth Fund
Prospectus dated October 30, 2017

Effective January 17, 2018, the sub-section Portfolio manager in the section Your fund’s management is replaced in its entirety with the following:

Portfolio managers
Katherine Collins, Head of Sustainable Investing, portfolio manager of the fund since 2018
R. Shepherd Perkins, Portfolio Manager, portfolio manager of the fund since 2018

• All references in the Summary Prospectus to Putnam Multi-Cap Growth Fund are deleted and replaced with “Putnam Sustainable Leaders Fund.”

• Similar information in the sub-sections Investments and Risks in the section Investments, risks and performance is superseded and replaced with the following:

Investments

Risks

It is important to understand that you can lose money by investing in the fund.

The rest of the section remains the same.

Shareholders should retain this Supplement for future reference.

309842 – 1/18

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Feb. 02, 2018
Putnam Multi-Cap Growth Fund
Investments
We invest mainly in common stocks of U.S. companies of any size, with a focus on growth stocks of companies that we believe exhibit a commitment to sustainable business practices. Growth stocks are stocks of companies whose earnings are expected to grow faster than those of similar firms, and whose business growth and other characteristics may lead to an increase in stock price. We consider sustainability factors, as described below, and may consider other factors, such as a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. Sustainable investing. In selecting investments, we focus on companies that we believe have a demonstrated commitment to sustainable business practices. This commitment may be reflected through environmental, social and/or corporate governance (ESG) policies, practices or outcomes
Risks
It is important to understand that you can lose money by investing in the fund. The value of stocks in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Investing with a focus on companies that exhibit a commitment to sustainable business practices may cause the fund to forego otherwise attractive investment opportunities or may increase or decrease the fund’s exposure to certain types of companies and, therefore, to underperform funds that do not invest with a similar focus. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. In addition, a company’s business practices may change over time. As a result of these possibilities, the fund may temporarily hold securities that are inconsistent with the fund’s sustainable investment criteria. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

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Label	Element	Value
Risk/Return:	rr_RiskReturnAbstract
Document Type	dei_DocumentType	497
Document Period End Date	dei_DocumentPeriodEndDate	Dec. 31, 2017
Registrant Name	dei_EntityRegistrantName	PUTNAM MULTI-CAP GROWTH FUND
Central Index Key	dei_EntityCentralIndexKey	0000865177
Amendment Flag	dei_AmendmentFlag	false
Trading Symbol	dei_TradingSymbol	PIF
Document Creation Date	dei_DocumentCreationDate	Feb. 02, 2018
Document Effective Date	dei_DocumentEffectiveDate	Jan. 31, 2018
Prospectus Date	rr_ProspectusDate	Apr. 30, 2017
Putnam Multi-Cap Growth Fund
Risk/Return:	rr_RiskReturnAbstract
Strategy [Heading]	rr_StrategyHeading	Investments
Strategy Narrative [Text Block]	rr_StrategyNarrativeTextBlock	We invest mainly in common stocks of U.S. companies of any size, with a focus on growth stocks of companies that we believe exhibit a commitment to sustainable business practices. Growth stocks are stocks of companies whose earnings are expected to grow faster than those of similar firms, and whose business growth and other characteristics may lead to an increase in stock price. We consider sustainability factors, as described below, and may consider other factors, such as a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. Sustainable investing. In selecting investments, we focus on companies that we believe have a demonstrated commitment to sustainable business practices. This commitment may be reflected through environmental, social and/or corporate governance (ESG) policies, practices or outcomes
Risk [Heading]	rr_RiskHeading	Risks
Risk Narrative [Text Block]	rr_RiskNarrativeTextBlock	It is important to understand that you can lose money by investing in the fund. The value of stocks in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific issuer, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Investing with a focus on companies that exhibit a commitment to sustainable business practices may cause the fund to forego otherwise attractive investment opportunities or may increase or decrease the fund’s exposure to certain types of companies and, therefore, to underperform funds that do not invest with a similar focus. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. In addition, a company’s business practices may change over time. As a result of these possibilities, the fund may temporarily hold securities that are inconsistent with the fund’s sustainable investment criteria. The fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text]	rr_RiskLoseMoney	It is important to understand that you can lose money by investing in the fund.
Risk Not Insured Depository Institution [Text]	rr_RiskNotInsuredDepositoryInstitution	An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

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