-----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, EK7qyQ0SYDzybOghbi3Ejok6HT2rhymKGfWHPCzqPdJhgibB4yfbrikgg4WjqFDY bzMnYb7UDhfcwmz4+DNpbQ== 0000928816-08-001416.txt : 20081121 0000928816-08-001416.hdr.sgml : 20081121 20081121105032 ACCESSION NUMBER: 0000928816-08-001416 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20081121 DATE AS OF CHANGE: 20081121 EFFECTIVENESS DATE: 20081121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM INTERNATIONAL EQUITY FUND /MA/ CENTRAL INDEX KEY: 0000868648 IRS NUMBER: 046661045 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-37214 FILM NUMBER: 081205855 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921471 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL GROWTH FUND /MA/ DATE OF NAME CHANGE: 19960805 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM OVERSEAS GROWTH FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL GROWTH FUND DATE OF NAME CHANGE: 19901107 0000868648 S000006181 PUTNAM INTERNATIONAL EQUITY FUND /MA/ C000017024 Class A Shares POVSX C000017025 Class B Shares POVBX C000017026 Class C Shares PIGCX C000017027 Class M Shares POVMX C000017028 Class R Shares PIERX C000017029 Class Y Shares POVYX 497 1 a_intlequitysupp.htm PUTNAM INTERNATIONAL EQUITY FUND a_intlequitysupp.htm
Prospectus Supplement  November 26, 2008 

PUTNAM INTERNATIONAL EQUITY FUND Prospectus dated October 30, 2008 

The section Who oversees and manages the fund? is supplemented to reflect that Joshua Byrne now is the sole officer of Putnam Management primarily responsible for the day-to-day management of the fund's portfolio. Positions held by Mr. Byrne over the past five years and his fund holdings are set forth in the prospectus.

The sub-section Investment management team is deleted, except for the tabular information regarding Mr. Byrne’s length of service and business experience during the past five years. The sub-section Compensation of investment professionals is replaced in its entirety by the following:

Compensation of portfolio managers. Putnam’s goal for our products and investors is to deliver top quartile or better performance over a rolling 3-year period versus peers on a pre-tax basis. For this fund, the peer group we compare fund performance against is the Lipper International Large-Cap Core Funds Category. Each portfolio manager is assigned an industry competitive incentive compensation target for achieving this goal. The target is based in part on the type and amount of assets the individual manages. The target increases or decreases depending on whether the portfolio manager’s performance is higher or lower than the top quartile, subject to a maximum increase of 50%, for a portfolio manager who outperforms at least 90% of his or her peer group, and a maximum decrease of 100%, for a portfolio manager who outperforms less than 25% of his or her peer group. For example, the target of a portfolio manager who outperforms 50% of his or her peer group would decrease 50%. Investment performance of a portfolio manager is asset-weighted across the products he or she manages.

Portfolio manager incentive compensation targets are also adjusted for company performance/economics. Actual incentive compensation may be greater or less than a portfolio manager’s target, as it takes into consideration team/group performance and qualitative performance factors. Incentive compensation includes a cash bonus and may also include grants of restricted stock or options. In addition to incentive compensation, portfolio managers receive fixed annual salaries typically based on level of responsibility and experience.

PUTNAM INVESTMENTS  254363 11/08 

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