0000928816-19-001837.txt : 20191115 0000928816-19-001837.hdr.sgml : 20191115 20191115072217 ACCESSION NUMBER: 0000928816-19-001837 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 13 FILED AS OF DATE: 20191115 DATE AS OF CHANGE: 20191115 EFFECTIVENESS DATE: 20191115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM INTERNATIONAL EQUITY FUND CENTRAL INDEX KEY: 0000868648 IRS NUMBER: 046661045 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-37214 FILM NUMBER: 191222465 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921471 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL EQUITY FUND /MA/ DATE OF NAME CHANGE: 20030430 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM INTERNATIONAL EQUITY FUND CENTRAL INDEX KEY: 0000868648 IRS NUMBER: 046661045 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-06190 FILM NUMBER: 191222464 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921471 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL EQUITY FUND /MA/ DATE OF NAME CHANGE: 20030430 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 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 C000118015 Class R5 C000118016 Class R6 485BPOS 1 a_coverief.htm PUTNAM INTERNATIONAL EQUITY FUND
As filed with the Securities and Exchange Commission on  
November 15, 2019  
 
Registration No. 33-37214 
811-06190 
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SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549  
 
---------------  
 
FORM N-1A  
  ---- 
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933  / X / 
  ---- 
  ---- 
Pre-Effective Amendment No.  /    / 
  ---- 
  ---- 
Post-Effective Amendment No. 44  / X / 
and/or  ---- 
  ---- 
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY  / X / 
ACT OF 1940  --- 
  --- 
Amendment No. 46  / X / 
(Check appropriate box or boxes)  ---- 
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PUTNAM INTERNATIONAL EQUITY FUND  
(Exact Name of Registrant as Specified in Charter)  
 
100 Federal Street, Boston, Massachusetts 02110  
(Address of Principal Executive Offices) (Zip Code)  
 
Registrant’s Telephone Number, including Area Code  
(617) 292-1000  
--------------  

 



  It is proposed that this filing will become effective 
  (check appropriate box) 
 
----   
/    /  immediately upon filing pursuant to paragraph (b) 
----   
----   
/ X /  on October 30, 2019 pursuant to paragraph (b) 
----   
----   
/    /  60 days after filing pursuant to paragraph (a)(1) 
----   
----   
/    /  on (date) pursuant to paragraph (a)(1) 
----   
----   
/    /  75 days after filing pursuant to paragraph (a)(2) 
----   
----   
/    /  on (date) pursuant to paragraph (a)(2) of Rule 485. 
----   
If appropriate, check the following box: 
----   
/    /  this post-effective amendment designates a new 
----  effective date for a previously filed post-effective amendment. 
 
 
  ----------------------- 
 
  ROBERT T. BURNS, Vice President 
  PUTNAM INTERNATIONAL EQUITY FUND 
  100 Federal Street 
  Boston, Massachusetts 02110 
  (Name and address of agent for service) 
  ----------------------- 
 
  Copy to: 
  BRYAN CHEGWIDDEN, Esquire 
  ROPES & GRAY LLP 
  1211 Avenue of the Americas 
  New York, New York 10036 

 






SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Boston, and The Commonwealth of Massachusetts, on the 15th day of November, 2019.

 

 

Putnam International Equity Fund

 

By: /s/ Jonathan S. Horwitz, Executive Vice President, Principal Executive Officer and Compliance Liaison

 

Pursuant to the requirements of the Securities Act of 1933, as amended, this Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the date indicated:

 

Signature Title
Kenneth R. Leibler* Chair, Board of Trustees
Robert L. Reynolds* President and Trustee
Jonathan S. Horwitz * Executive Vice President, Principal Executive Officer and Compliance Liaison
Janet C. Smith* Vice President, Principal Financial Officer, Principal Accounting Officer and Assistant Treasurer
Liaquat Ahamed* Trustee
Ravi Akhoury* Trustee
Barbara M. Baumann* Trustee
Katinka Domotorffy* Trustee
Catharine Bond Hill* Trustee
Paul L. Joskow* Trustee
Robert E. Patterson* Trustee
George Putnam, III* Trustee
Manoj P. Singh* Trustee

 

 

 

 

By: /s/ Jonathan S. Horwitz,
as Attorney-in-Fact
November 15, 2019

 

*Signed pursuant to power of attorney filed herewith.

 

 

 

 

 

 

 

 

 

 

 

 

 

EX-101.INS 3 povsx-20191025.xml XBRL INSTANCE FILE 0000868648 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000017024Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000017025Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000017026Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000017027Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000017028Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000118015Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000118016Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000017029Member 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000017024Member rr:AfterTaxesOnDistributionsMember 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:C000017024Member rr:AfterTaxesOnDistributionsAndSalesMember 2019-10-25 2019-10-25 0000868648 POVSX:S000006181Member POVSX:MSCIEAFEValueIndexNDMember 2019-10-18 2019-10-18 iso4217:USD xbrli:pure 485BPOS 2018-12-31 PUTNAM INTERNATIONAL EQUITY FUND 0000868648 N-1A false POVSX 2019-10-25 2019-10-30 2019-10-30 Fund summary Goal Fees and expenses Shareholder fees (fees paid directly from your investment) Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) Portfolio turnover Example Investments, risks, and performance 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. Performance The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund&#8217;s performance year to year and over time. putnam.com Please remember that past performance is not necessarily an indication of future results. Annual total returns for class A shares before sales charges The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. Year-to-date performance <br /> <b>through 9/30/19</b>&#160;&#160;14.90% <br /> <br /> Best calendar quarter<br /> <b>Q2 2009</b>&#160;&#160; 23.24% <br /><br />Worst calendar quarter<br /> <b>Q3 2011</b>&#160;&#8722;23.03% Year-to-date performance Best calendar quarter Worst calendar quarter Average annual total returns after sales charges (for periods ended 12/31/18) After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are shown for class A shares only and will vary for other classes. Putnam International Equity Fund seeks capital appreciation. The following table describes the fees and expenses you may pay if you buy and hold shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in <i>How do I buy fund shares?</i> beginning on page 15 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in How do I buy fund shares? beginning on page 15 of the fund's prospectus, in the Appendix to the fund's prospectus, and in How to buy shares beginning on page II-1 of the fund's statement of additional information (SAI). 50000 0.0575 0 0 0.0350 0 0 0 0 0.0100 0.0500 0.0100 0 0 0 0 0 0.0061 0.0061 0.0061 0.0061 0.0061 0.0061 0.0061 0.0061 0.0025 0.0100 0.0100 0.0075 0.0050 0.0032 0.0032 0.0032 0.0032 0.0032 0.0023 0.0013 0.0032 0.0118 0.0193 0.0193 0.0168 0.0143 0.0084 0.0074 0.0093 <div style="display: none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact POVSX_S000006181Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact POVSX_S000006181Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund&#8217;s operating expenses remain the same. Your actual costs may be higher or lower. 1924 2059 2254 2267 1713 1037 918 1143 1187 1242 1042 1231 782 466 411 515 928 906 606 861 452 268 237 296 688 696 296 515 146 86 76 95 2059 2254 1042 1042 606 606 196 196 <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact POVSX_S000006181Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column period compact * column dei_LegalEntityAxis compact POVSX_S000006181Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund&#8217;s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or the above example, affect fund performance. The fund&#8217;s turnover rate in the most recent fiscal year was 77%. 0.77 Investments<br /> We invest mainly in common stocks (growth or value stocks or both) of large and midsize companies outside the United States that we believe have favorable investment potential. For example, we may purchase stocks of companies with stock prices that reflect a value lower than that which we place on the company. Under normal circumstances, we invest at least 80% of the fund&#8217;s net assets in equity investments. This policy may be changed only after 60 days&#8217; notice to shareholders. We invest mainly in developed countries, but may invest in emerging markets. We may consider, among other factors, a company&#8217;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. We may also consider other factors that we believe will cause the stock price to rise. We may also use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. It is important to understand that you can lose money by investing in the fund.<br /> <br /> The value of investments in the fund&#8217;s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund&#8217;s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. These risks are generally greater for small and midsize companies. The value of international investments traded in foreign currencies may be adversely impacted by fluctuations in exchange rates. International investments, particularly investments in emerging markets, may carry risks associated with potentially less stable economies or governments (such as the risk of seizure by a foreign government, the imposition of currency or other restrictions, or high levels of inflation), and may be or become illiquid.<br /> <br /> Investments focused in a single region may be affected by common economic forces and other factors. In addition, events in any one country within the region may impact the other countries or the region as a whole. Because the fund currently invests, and may in the future invest, significantly in European companies, the fund is particularly susceptible to economic, political, regulatory and other events or conditions affecting issuers in Europe. European financial markets have in recent years experienced increased volatility due to concerns with some countries&#8217; high levels of sovereign debt, budget deficits, and unemployment.<br /> <br /> Our use of derivatives may increase the risks of investing in the fund by increasing investment exposure (which may be considered leverage) or, in the case of many over-the-counter instruments, because of the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations.<br /> <br /> 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 performance information below gives some indication of the risks associated with an investment in the fund by showing the fund&#8217;s performance year to year and over time. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. Please remember that past performance is not necessarily an indication of future results. Monthly performance figures for the fund are available at putnam.com. 0.2527 0.1009 -0.1554 0.2173 0.2794 -0.0687 0.0017 -0.0270 0.2647 -0.1936 <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact POVSX_S000006181Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 2019-09-30 0.1490 2009-06-30 0.2324 2011-09-30 -0.2303 0.0470 0.0469 0.0453 0.0442 0.0505 0.0564 0.0571 0.0558 0.0430 0.0391 0.0632 -0.0269 -0.0262 -0.0226 -0.0272 -0.0178 -0.0122 -0.0111 -0.0128 -0.0313 -0.0186 0.0053 -0.2400 -0.2372 -0.2072 -0.2259 -0.1957 -0.1906 -0.1902 -0.1913 -0.2492 -0.1325 -0.1379 <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact POVSX_S000006181Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns are shown for class A shares only and will vary for other classes. These after-tax returns do not apply if you hold your fund shares through a 401(k) plan, an IRA, or another tax-advantaged arrangement.<br /> <br /> Class B share performance reflects conversion to class A shares after eight years. before taxes before taxes before taxes before taxes before taxes before taxes before taxes before taxes Applies only to certain redemptions of shares bought with no initial sales charge. This charge is phased out over six years. This charge is eliminated after one year. Management fees are subject to a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the performance of the MSCI EAFE Index (ND). For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.691%. Restated to reflect current fees. Performance for class R5 and class R6 shares prior to their inception (7/2/12) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R5 and class R6 shares; had it, returns would have been higher. EX-101.SCH 4 povsx-20191025.xsd XBRL SCHEMA FILE 00000003 - Document - Putnam International Equity Fund Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink EX-101.DEF 5 povsx-20191025_def.xml XBRL DEFINITION FILE EX-101.LAB 6 povsx-20191025_lab.xml XBRL LABEL FILE Legal Entity [Axis] Putnam International Equity Fund Share Class [Axis] Class A Class B Class C Class M Class R Class R5 Class R6 Class Y Performance Measure [Axis] after taxes on distributions after taxes on distributions and sale of fund shares MSCI EAFE Index (ND) (no deduction for fees, expenses or taxes other than withholding taxes on reinvested dividends) Prospectus: [Table] Prospectus [Line Items] Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense 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Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Annual Return 2021 Annual Return 2022 Annual Return 2023 Annual Return 2024 Annual Return 2025 Label 1 Year 5 Years 10 Years Since Inception Inception Date Risk/Return Detail [Table] Document Type Document Period End Date Entity Registrant Name Entity Central Index Key Entity Inv Company Type Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Money Market Fund Price Fluctuates [Text] Risk Money Market Fund May Not Preserve Dollar [Text] Risk Money Market Fund May Impose Fees or Suspend Sales [Text] Risk Not Insured Depository Institution [Text] RIsk Not Insured [Text] Risk Money Market Fund Sponsor May Not Provide Support [Text] Risk Nondiversified Status [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Average Annual Return, Caption Average Annual Return, Column Name Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield EX-101.PRE 7 povsx-20191025_pre.xml XBRL PRESENTATION FILE XML 8 R1.htm IDEA: XBRL DOCUMENT v3.19.3
Putnam International Equity Fund
Fund summary
Goal
Putnam International Equity Fund seeks capital appreciation.
Fees and expenses
The following table describes the fees and expenses you may pay if you buy and hold shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in How do I buy fund shares? beginning on page 15 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder fees (fees paid directly from your investment)
Shareholder Fees - Putnam International Equity Fund
Class A
Class B
Class C
Class M
Class R
Class R5
Class R6
Class Y
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 5.75% none none 3.50% none none none none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) 1.00% [1] 5.00% [2] 1.00% [3] none none none none none
[1] Applies only to certain redemptions of shares bought with no initial sales charge.
[2] This charge is phased out over six years.
[3] This charge is eliminated after one year.
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Putnam International Equity Fund
Class A
Class B
Class C
Class M
Class R
Class R5
Class R6
Class Y
Management fees [1] 0.61% 0.61% 0.61% 0.61% 0.61% 0.61% 0.61% 0.61%
Distribution and service (12b-1) fees 0.25% 1.00% 1.00% 0.75% 0.50%      
Other expenses [2] 0.32% 0.32% 0.32% 0.32% 0.32% 0.23% 0.13% 0.32%
Total annual fund operating expenses 1.18% 1.93% 1.93% 1.68% 1.43% 0.84% 0.74% 0.93%
[1] Management fees are subject to a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the performance of the MSCI EAFE Index (ND). For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.691%.
[2] Restated to reflect current fees.
Example
The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower.
Expense Example - Putnam International Equity Fund - USD ($)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Class A 688 928 1,187 1,924
Class B 696 906 1,242 2,059
Class C 296 606 1,042 2,254
Class M 515 861 1,231 2,267
Class R 146 452 782 1,713
Class R5 86 268 466 1,037
Class R6 76 237 411 918
Class Y 95 296 515 1,143
Expense Example, No Redemption - Putnam International Equity Fund - USD ($)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
Class B 196 606 1,042 2,059
Class C 196 606 1,042 2,254
Portfolio turnover
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or the above example, affect fund performance. The fund’s turnover rate in the most recent fiscal year was 77%.
Investments, risks, and performance
Investments
We invest mainly in common stocks (growth or value stocks or both) of large and midsize companies outside the United States that we believe have favorable investment potential. For example, we may purchase stocks of companies with stock prices that reflect a value lower than that which we place on the company. Under normal circumstances, we invest at least 80% of the fund’s net assets in equity investments. This policy may be changed only after 60 days’ notice to shareholders. We invest mainly in developed countries, but may invest in emerging markets. We may consider, among other factors, 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. We may also consider other factors that we believe will cause the stock price to rise. We may also use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes.
Risks
It is important to understand that you can lose money by investing in the fund.

The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, 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 value stocks may fail to rebound. These risks are generally greater for small and midsize companies. The value of international investments traded in foreign currencies may be adversely impacted by fluctuations in exchange rates. International investments, particularly investments in emerging markets, may carry risks associated with potentially less stable economies or governments (such as the risk of seizure by a foreign government, the imposition of currency or other restrictions, or high levels of inflation), and may be or become illiquid.

Investments focused in a single region may be affected by common economic forces and other factors. In addition, events in any one country within the region may impact the other countries or the region as a whole. Because the fund currently invests, and may in the future invest, significantly in European companies, the fund is particularly susceptible to economic, political, regulatory and other events or conditions affecting issuers in Europe. European financial markets have in recent years experienced increased volatility due to concerns with some countries’ high levels of sovereign debt, budget deficits, and unemployment.

Our use of derivatives may increase the risks of investing in the fund by increasing investment exposure (which may be considered leverage) or, in the case of many over-the-counter instruments, because of the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations.

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.
Performance
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. Please remember that past performance is not necessarily an indication of future results. Monthly performance figures for the fund are available at putnam.com.
Annual total returns for class A shares before sales charges
Bar Chart
Year-to-date performance
through 9/30/19  14.90%

Best calendar quarter
Q2 2009   23.24%

Worst calendar quarter
Q3 2011 −23.03%
Average annual total returns after sales charges (for periods ended 12/31/18)
Average Annual Total Returns - Putnam International Equity Fund
Label
1 Year
5 Years
10 Years
Class A before taxes (24.00%) (2.69%) 4.70%
Class A | after taxes on distributions   (24.92%) (3.13%) 4.30%
Class A | after taxes on distributions and sale of fund shares   (13.25%) (1.86%) 3.91%
Class B before taxes (23.72%) (2.62%) 4.69%
Class C before taxes (20.72%) (2.26%) 4.53%
Class M before taxes (22.59%) (2.72%) 4.42%
Class R before taxes (19.57%) (1.78%) 5.05%
Class R5 before taxes (19.06%) [1] (1.22%) [1] 5.64% [1]
Class R6 before taxes (19.02%) [1] (1.11%) [1] 5.71% [1]
Class Y before taxes (19.13%) (1.28%) 5.58%
MSCI EAFE Index (ND) (no deduction for fees, expenses or taxes other than withholding taxes on reinvested dividends)   (13.79%) 0.53% 6.32%
[1] Performance for class R5 and class R6 shares prior to their inception (7/2/12) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R5 and class R6 shares; had it, returns would have been higher.
After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are shown for class A shares only and will vary for other classes. These after-tax returns do not apply if you hold your fund shares through a 401(k) plan, an IRA, or another tax-advantaged arrangement.

Class B share performance reflects conversion to class A shares after eight years.
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