|One Post Office Square , Canton, MA 02109|
|Fund Manager||Gerard Sullivan|
|Manager Tenure||11 Years|
Putnam Multi-Cap Core Fund seeks capital appreciation. This section contains greater detail on the funds main investment strategies and the related risks you would face as a fund shareholder. It is important to keep in mind that risk and reward generally go hand in hand; the higher the potential reward, the greater the risk. As mentioned in the fund summary, we pursue the funds goal by investing mainly in common stocks of U.S. companies of any size. Common stocks. Common stock represents an ownership interest in a company. The value of a companys stock may fall as a result of factors directly relating to that company, such as decisions made by its management or lower demand for the companys products or services. A stocks value may also fall because of factors affecting not just the company, but also other companies in the same industry or in a number of different industries, such as increases in production costs. 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 companies, industries or sectors. The value of a companys stock may also be affected by changes in financial markets that are relatively unrelated to the company or its industry, such as changes in interest rates or currency exchange rates. In addition, a companys stock generally pays dividends only after the company invests in its own business and makes required6 Prospectus payments to holders of its bonds and other debt. For this reason, the value of a companys stock will usually react more strongly than its bonds and other debt to actual or perceived changes in the companys financial conditioner prospects. Growth stocks Stocks of companies we believe are fast-growing may trade at a higher multiple of current earnings than other stocks. The values of these stocks may be more sensitive to changes in current or expected earnings than the values of other stocks. If our assessment of the prospects for a companys earnings growth is wrong, or if our judgment of how other investors will value the companys earnings growth is wrong, then the price of the companys stock may fall or may not approach the value that we have placed on it. In addition, growth stocks, at times, may not perform as well as value stocks or the stock market in general, and may be out of favor with investors for varying periods of time. Value stocks Companies whose stocks we believe are undervalued by the market may have experienced adverse business developments or may be subject to special risks that have caused their stocks to be out of favor. I four assessment of a companys prospects is wrong, or if other investors do not similarly recognize the value of the company, then the price of the companys stock may fall or may not approach the value that we have placed omit. In addition, value stocks, at times, may not perform as well as growth stocks or the stock market in general, and may be out of favor with investors for varying periods of time. Small and midsize companies. These companies, some of which may have a market capitalization of less than $1 billion, are more likely than larger companies to have limited product lines, markets or financial resources, lack profitability or depend on a small management group. Stocks of these companies often trade in smaller volumes, and their prices may fluctuate more than stocks of larger companies. Stocks of small and midsize companies may therefore be more vulnerable to adverse developments than those of larger companies. In addition, stocks of small and midsize companies, at times, may not perform as well as stocks of larger companies or the stock market in general, and may be out of favor with investors for varying periods of time.
|Asset Type||% Of Allocation|
|Total Net Assets||2.48 B|
|Criteria||3 Years||5 Years||10 Years|
|Minimum Initial IRA||$0|
|Timeframe||Average Annual Current Performance Monthly As Of 08/31/2021||Average Annual Current Performance Quarterly As Of 06/30/2021||Avg Annual Current Performance Monthly As Of 08/31/2021||Avg Annual Current Performance Quarterly As Of 06/30/2021|
|Life Of Fund||
|Symbol||Company Name||% Of Assets|
|AMZN||AMAZON COM INC||3.73%|
|GOOG||ALPHABET INC CLASS C||3.68%|
|BAC||BANK OF AMERICA CORPORATION||3.40%|
|LOW||LOWE'S COS INC||2.13%|
|BRK.B||BERKSHIRE HATHAWAY INC CL B||1.89%|
|LRCX||LAM RESEARCH CORP||1.65%|
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