0000081259 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:C000015264Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:C000015265Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:C000015267Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:C000015266Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:C000015268Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:C000015269Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member rr:AfterTaxesOnDistributionsMember gpfob1:C000015264Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member rr:AfterTaxesOnDistributionsAndSalesMember gpfob1:C000015264Member 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:RussellTenHundredValueIndexMember 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:BarclaysUsAggregateBondIndexMember 2011-12-01 2012-11-30 0000081259 gpfob1:S000005597Member gpfob1:GeorgePutnamBlendedIndexMember 2011-12-01 2012-11-30 pure iso4217:USD 2012-11-30 485BPOS GEORGE PUTNAM FUND OF BOSTON 0000081259 2012-11-28 2012-11-30 2012-07-31 false George Putnam Balanced Fund seeks to provide a balanced investment composed of a well-diversified portfolio of stocks and bonds which produce both capital growth and current income. 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&#8217;s prospectus and in How to buy shares beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 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. 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. 0.0575 0 0.035 0 0 0 0.01 0.05 0.0065 0 0.01 0 0.0054 0.0054 0.0054 0.0054 0.0054 0.0054 0.0025 0.01 0.0075 0.01 0.005 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0179 0.0129 0.0104 0.0179 0.0154 0.0079 675 682 501 282 81 131 887 863 819 409 563 252 1116 1170 1160 708 970 439 1773 1908 2105 2120 1556 978 182 182 563 563 970 970 1908 2105 -0.0842 0.1739 0.0832 0.0404 0.1225 0.0092 -0.403 0.258 0.1115 0.0271 -0.0321 -0.0346 -0.0178 0.0086 -0.0147 0.0297 0.0245 0.0039 0.0784 0.0421 -0.04 -0.05 -0.0366 -0.0358 -0.0401 -0.0307 -0.026 -0.0264 0.065 0.0208 -0.0003 0.0054 0.0088 0.0078 0.0191 0.0141 0.0389 0.0542 0.0578 -0.031 -0.0392 0.0104 <div style="display:none">~ http://www.putnam.com/role/ScheduleShareholderFeesGEORGEPUTNAMFUNDOFBOSTON column period compact * ~</div> <b>Fund summary</b> <b>Goal</b> <b>Fees and expenses</b> <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) <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 in the most recent fiscal year was 99%. <b>Investments</b> We invest mainly in a combination of bonds and value stocks of large and midsized U.S. companies with a greater focus on value stocks. Value stocks are those that we believe are currently undervalued by the market. If we are correct and other investors ultimately recognize the value of the company, the price of its stock may rise. We buy bonds of governments and private companies that are mostly investment-grade in quality with intermediate- to long-term maturities (three years or longer). 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 equity investments, and, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell fixed income investments. We may also use derivatives, such as futures, options, warrants and swap contracts, for both hedging and non-hedging purposes. <b>Risks</b> It is important to understand that you can lose money by investing in the fund.<br/><br/>The prices of stocks and bonds 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 company or industry. These risks are generally greater for small and midsize companies. Value stocks may fail to rebound, and the market may not favor value-style investing. The risks associated with bond investments include interest rate risk, which means the prices of the fund&#8217;s investments are likely to fall if interest rates rise. Interest rate risk is generally greater for longer term bonds. Bond investments are also subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Our use of derivatives may increase these risks by increasing investment exposure 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. <div style="display:none">~ http://www.putnam.com/role/ScheduleAnnualFundOperatingExpensesGEORGEPUTNAMFUNDOFBOSTON column period compact * ~</div> <b>Performance </b> <b>Annual total returns for class A shares before sales charges</b> <div><table cellspacing="0" border="0" cellpadding="0" width="100%"><tr><td style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 0px solid" width="20%">Year-to-date<br/>performance<br/><b>through 9/30/12</b></td> <td style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 0px solid" width="5%"> 11.35%</td><td width="40%"></td><td width="35%"></td> </tr> <tr><td style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 0px solid" width="20%">Best calendar<br/>quarter<br/><b>Q2 2009</b></td> <td style="BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 0px solid" width="5%">12.57%</td><td width="40%"></td><td width="35%"></td> </tr> <tr><td width="20%">Worst calendar<br/>quarter<br/><b>Q4 2008</b></td> <td width="8%">-26.96%</td><td width="40%"></td><td width="35%"></td> </tr></table></div> <b>Average annual total returns after sales charges</b><br/> (for periods ending 12/31/11) The George Putnam Blended Index is an unmanaged index administered by Putnam Management, 60% of which is the Russell 1000 Value Index and 40% of which is the Barclays U.S. Aggregate Bond Index.<br/><br/>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 does not reflect conversion to class A shares. 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&#8217;s prospectus and in How to buy shares beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 50000 0.99 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. 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. putnam.com 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. Year-to-date performance through 2012-09-30 0.1135 Best calendar quarter 2009-06-30 0.1257 Worst calendar quarter 2008-12-31 -0.2696 <div style="display:none">~ http://www.putnam.com/role/ScheduleAnnualTotalReturnsGEORGEPUTNAMFUNDOFBOSTONBarChart column period compact * ~</div> 0.0087 <div style="display:none">~ http://www.putnam.com/role/ScheduleAverageAnnualTotalReturnsTransposedGEORGEPUTNAMFUNDOFBOSTON column period compact * ~</div> <div style="display:none">~ http://www.putnam.com/role/ScheduleExpenseExampleGEORGEPUTNAMFUNDOFBOSTON column period compact * ~</div> <div style="display:none">~ http://www.putnam.com/role/ScheduleExpenseExampleNoRedemptionGEORGEPUTNAMFUNDOFBOSTON column period compact * ~</div> 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.