497 1 putfns1b.txt PUTNAM U.S. CORE FUND 73911 Prospectus Supplement Dated June 18, 2001 to: ------------------------------------------------------------------------------- Putnam U.S. Core Fund (the "fund") Prospectuses dated August 30, 2000 The second paragraph under the heading "Who manages the fund" is replaced with the following: The following officers of Putnam Management have primary responsibility for the day-to-day management of the fund's portfolio since the year shown below. Their experience as portfolio managers or investment analysts over at least the last five years is also shown. ------------------------------------------------------------------------------- Manager Since Experience ------------------------------------------------------------------------------- Robert R. Beck 1998 1989 - Present Putnam Management Managing Director ------------------------------------------------------------------------------- Paul E. Marrkand 1999 1987 - Present Putnam Management Senior Vice President ------------------------------------------------------------------------------- Michael E. Nance 2001 2001 - Present Putnam Management Senior Vice President Prior to May 2001 Kobrick Funds LLC -------------------------------------------------------------------------------