Putnam International Equity

Objective And Strategy

Objective
The investment seeks capital appreciation.

Strategy
The fund invests mainly in common stocks (growth or value stocks or both) of large and midsize companies outside the United States that the advisor believes have favorable investment potential. The advisor may also use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes.

Principal Risks

* See Fund Prospectus