0000932101 pif6:S000003850Member 2011-12-31 2012-12-30 0000932101 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member pif6:C000010763Member 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member pif6:C000010768Member 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member pif6:C000010767Member 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member pif6:C000010766Member 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member pif6:C000010765Member 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member pif6:C000010764Member 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member rr:AfterTaxesOnDistributionsMember pif6:C000010763Member 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member rr:AfterTaxesOnDistributionsAndSalesMember pif6:C000010763Member 2011-12-31 2012-12-30 0000932101 pif6:S000003850Member pif6:SAndPDevelopedExUsSmallCapIndexMember 2011-12-31 2012-12-30 pure iso4217:USD <div style="display:none">~ http://www.putnam.com/role/ScheduleShareholderFeesPutnamInternationalCapitalOpportunities column period compact * ~</div> <div style="display:none">~ http://www.putnam.com/role/ScheduleAnnualFundOperatingExpensesPutnamInternationalCapitalOpportunities column period compact * ~</div> <div style="display:none">~ http://www.putnam.com/role/ScheduleAverageAnnualTotalReturnsTransposedPutnamInternationalCapitalOpportunities column period compact * ~</div> 485BPOS PUTNAM INVESTMENT FUNDS 0000932101 2012-12-21 2012-12-30 false 2012-08-31 2012-12-30 <b>Goal</b> Putnam International Capital Opportunities Fund seeks long-term capital appreciation. <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. 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 13 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). <b>Example</b> 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. <b>Portfolio turnover</b> We invest mainly in common stocks (growth or value stocks or both) of small 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. We also consider other factors we believe will cause the stock price to rise. 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 use derivatives such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. <b>Risks</b> <b>Performance</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) 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 34%. 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. <b>Annual total returns for class A shares before sales charges</b> <b>Average annual total returns after sales charges</b><br/>(for periods ending 12/31/11) 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. <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%"> 16.65%</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%">36.85%</td><td width="40%"></td><td width="35%"></td> </tr> <tr><td width="20%">Worst calendar<br/>quarter<br/><b>Q3 2008</b></td> <td width="8%">-25.73%</td><td width="40%"></td><td width="35%"></td> </tr></table></div> -0.1396 0.3832 0.3087 0.1943 0.3216 0.0887 -0.4847 0.5676 0.187 -0.2125 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 13 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 0.34 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 0.1665 Best calendar quarter 2009-06-30 0.3685 Worst calendar quarter 2008-09-30 -0.2573 0 0 0.035 0 0 0.0575 0 0 0.0065 0.01 0.05 0.01 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01 0.0078 0.0078 0.0078 0.0078 0.0078 0.0078 0.005 0.0075 0.01 0.01 0.0025 0.0038 0.0038 0.0038 0.0038 0.0038 0.0038 0.0141 0.0216 0.0216 0.0191 0.0166 0.0116 118 169 537 319 719 710 996 976 676 929 523 368 1302 1359 1159 1345 902 638 2169 2303 2493 2505 1409 1965 219 219 676 676 1159 1159 2303 2493 -0.2579 -0.2614 -0.1631 -0.2563 -0.2261 -0.2437 -0.2143 -0.2104 -0.1449 -0.0497 -0.0512 -0.0398 -0.0493 -0.0456 -0.05 -0.0407 -0.036 -0.0321 0.0666 0.0658 0.0648 0.0609 0.0648 0.0638 0.0705 0.0755 0.0944 <div style="display:none">~ http://www.putnam.com/role/ScheduleExpenseExamplePutnamInternationalCapitalOpportunities column period compact * ~</div> <div style="display:none">~ http://www.putnam.com/role/ScheduleExpenseExampleNoRedemptionPutnamInternationalCapitalOpportunities column period compact * ~</div> It is important to understand that you can lose money by investing in the fund.<br/><br/>The prices of stocks 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. 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 or deflation), and may be illiquid. 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/ScheduleAnnualTotalReturnsPutnamInternationalCapitalOpportunitiesBarChart column period compact * ~</div> <b>Fund summary</b> <b>Investments</b> 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.