0001005942 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member pft8:C000105375Member 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member pft8:C000105376Member 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member pft8:C000105377Member 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member pft8:C000105378Member 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member pft8:C000105379Member 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member pft8:C000118011Member 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member pft8:C000118012Member 2011-12-01 2012-11-30 0001005942 pft8:S000034192Member pft8:C000105380Member 2011-12-01 2012-11-30 pure iso4217:USD 485BPOS 2012-11-30 PUTNAM FUNDS TRUST 0001005942 2012-11-28 2012-11-30 2012-07-31 false <b>Fund summary</b> <b>Goal</b> Putnam Short Duration Income Fund seeks as high a rate of current income as Putnam Investment Management, LLC believes is consistent with preservation of capital and maintenance of liquidity. <b>Fees and expenses</b> The following table describes the fees and expenses you may pay if you buy and hold shares of the fund. <b>Example</b> <b>Portfolio turnover</b> 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 for the period from October 17, 2011 (commencement of operations) through July 31, 2012 was 2%. <b>Risks</b> <b>Performance</b> Performance information will be available after the fund completes a full year of operation. <b>Shareholder fees </b>(fees paid directly from your investment) <b>Annual fund operating expenses </b><br/>(expenses you pay each year as a percentage of the value of your investment) November 30, 2013 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 information will be available after the fund completes a full year of operation. 0 0 0 0 0 0 0 0 0.01 0.05 0.01 0.0015 0 0 0 0 0.0036 0.0036 0.0036 0.0036 0.0036 0.0036 0.0036 0.0036 0.005 0.001 0.005 0.0015 0.005 0.0026 0.0029 0.0036 0.0026 0.0026 0.0026 0.0026 0.0026 0.0065 0.0062 0.0072 0.0112 0.0077 0.0112 0.0112 0.0072 -0.0042 -0.0035 -0.0032 -0.0032 -0.0032 -0.0032 -0.0032 -0.0032 0.008 0.0045 0.008 0.008 0.004 0.003 0.003 0.003 41 82 82 46 82 31 31 31 324 198 324 214 324 188 173 166 586 586 369 396 586 359 328 314 924 1335 1222 864 1335 855 777 744 0.02 <b>Investments</b> <div style="display:none">~ http://www.putnam.com/role/ScheduleShareholderFeesPutnamShortDurationIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.putnam.com/role/ScheduleAnnualFundOperatingExpensesPutnamShortDurationIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.putnam.com/role/ScheduleExpenseExamplePutnamShortDurationIncomeFund column period 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 redeem or hold 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. Only the first year of each period in the example takes into account the expense reimbursement described above. Your actual costs may be higher or lower. The fund invests in a diversified portfolio of fixed income securities comprised of short duration, investment grade money market and other fixed income securities. The fund&#8217;s investments may include obligations of the U.S. government, its agencies and instrumentalities, which are backed by the full faith and credit of the United States (e.g., U.S. Treasury bonds and Ginnie Mae mortgage-backed bonds) or only by the credit of a federal agency or government sponsored entity (e.g., Fannie Mae or Freddie Mac mortgage-backed bonds), domestic corporate debt obligations, taxable municipal debt securities, securitized debt instruments (such as mortgage- and asset-backed securities), repurchase agreements, certificates of deposit, bankers acceptances, commercial paper (including asset-backed commercial paper), time deposits, Yankee Eurodollar securities and money market instruments. We may also invest in U.S.-dollar denominated foreign securities of these types. Under normal circumstances, the effective duration of the fund&#8217;s portfolio will generally not be greater than one year. Effective duration provides a measure of a fund&#8217;s interest-rate sensitivity. The longer a fund&#8217;s duration, the more sensitive the fund is to shifts in interest rates. Under normal circumstances, the dollar-weighted average portfolio maturity of the fund is not expected to exceed three and one-half years.<br/><br/>We may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments. We may also use derivatives, such as futures, options 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 effects of inflation may erode the value of your investment over time. The prices of securities in the fund&#8217;s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including both general financial market conditions and factors related to a specific issuer or industry. The risks associated with fixed income investments include interest rate risk, which means the prices of the fund&#8217;s investments are likely to fall if interest rates rise. Fixed income investments also are subject to credit risk, which is the risk that the issuers of the fund&#8217;s investments may default on payment of interest or principal. Credit risk is generally greater for debt not backed by the full faith and credit of the U.S. government, and interest rate risk is generally greater for longer-term debt. Mortgage-backed investments carry the risk that they may increase in value less when interest rates decline and decline in value more when interest rates rise. We may have to invest the proceeds from prepaid investments, including mortgage- and asset-backed investments, in other investments with less attractive terms and yields. Our use of derivatives may increase these risks 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. A deferred sales charge on class A, B and C shares may apply to certain redemptions of shares purchased by exchange from another Putnam fund. A deferred sales charge on class M shares may apply to redemptions of shares from certain rollover accounts. A deferred sales charge on class A, B and C shares may apply to certain redemptions of shares purchased by exchange from another Putnam fund. A deferred sales charge on class M shares may apply to redemptions of shares from certain rollover accounts. Other expenses shown have been annualized. Reflects Putnam Investment Management, LLC's contractual obligation to limit certain fund expenses through at least November 30, 2013. This obligation may be modified or discontinued only with approval of the Board of Trustees.