N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: (811-07513)

Exact name of registrant as specified in charter: Putnam Funds Trust

Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109

Name and address of agent for service: Robert T. Burns, Vice President
One Post Office Square
Boston, Massachusetts 02109

Copy to:         John W. Gerstmayr, Esq.
Ropes & Gray LLP
800 Boylston Street
Boston, Massachusetts 02199-3600

Registrant’s telephone number, including area code: (617) 292-1000

Date of fiscal year end: July 31, 2014

Date of reporting period: April 30, 2014

Item 1. Schedule of Investments:

Putnam Strategic Volatility Equity Fund
The fund's portfolio
4/30/14 (Unaudited)
COMMON STOCKS (95.9%)(a)
		Shares	Value
Aerospace and defense (2.0%)
Boeing Co. (The)		234	$30,191
General Dynamics Corp.		512	56,038
L-3 Communications Holdings, Inc.		187	21,574
			107,803
Air freight and logistics (1.3%)
United Parcel Service, Inc. Class B		728	71,708
			71,708
Airlines (1.1%)
Alaska Air Group, Inc.		174	16,370
Copa Holdings SA Class A (Panama)		74	10,011
Southwest Airlines Co.		1,377	33,282
			59,663
Banks (3.2%)
BankUnited, Inc.		670	22,103
JPMorgan Chase & Co.		1,060	59,339
M&T Bank Corp.		432	52,708
Signature Bank(NON)		266	31,606
Wells Fargo & Co.		165	8,191
			173,947
Beverages (2.8%)
Dr. Pepper Snapple Group, Inc.		884	48,991
PepsiCo, Inc.		1,172	100,663
			149,654
Chemicals (3.6%)
Albemarle Corp.		381	25,542
International Flavors & Fragrances, Inc.		380	37,438
PPG Industries, Inc.		336	65,056
Scotts Miracle-Gro Co. (The) Class A		199	12,181
Sigma-Aldrich Corp.		560	53,878
			194,095
Commercial services and supplies (1.3%)
Cintas Corp.		253	14,909
Stericycle, Inc.(NON)		174	20,261
Waste Management, Inc.		832	36,982
			72,152
Diversified financial services (1.5%)
Berkshire Hathaway, Inc. Class B(NON)		636	81,949
			81,949
Diversified telecommunication services (1.7%)
Verizon Communications, Inc.		1,939	90,609
			90,609
Electric utilities (2.1%)
ITC Holdings Corp.		266	9,834
PPL Corp.		1,056	35,207
Southern Co. (The)		1,446	66,270
			111,311
Energy equipment and services (0.1%)
Dril-Quip, Inc.(NON)		60	6,787
			6,787
Food products (1.4%)
General Mills, Inc.		535	28,366
Hershey Co. (The)		523	50,334
			78,700
Health-care equipment and supplies (0.6%)
C.R. Bard, Inc.		135	18,540
Stryker Corp.		213	16,561
			35,101
Health-care providers and services (2.5%)
Cardinal Health, Inc.		426	29,611
Henry Schein, Inc.(NON)		158	18,048
Laboratory Corp. of America Holdings(NON)		176	17,371
McKesson Corp.		241	40,775
Mednax, Inc.(NON)		270	15,998
Patterson Cos., Inc.		323	13,146
			134,949
Hotels, restaurants, and leisure (2.7%)
McDonald's Corp.		832	84,348
Starbucks Corp.		896	63,276
			147,624
Household products (1.7%)
Kimberly-Clark Corp.		730	81,943
Procter & Gamble Co. (The)		142	11,722
			93,665
Industrial conglomerates (2.4%)
3M Co.		105	14,604
Danaher Corp.		889	65,235
General Electric Co.		943	25,357
Roper Industries, Inc.		191	26,539
			131,735
Insurance (9.1%)
ACE, Ltd.		484	49,523
Alleghany Corp.(NON)		47	19,175
Allied World Assurance Co. Holdings AG		231	24,876
Aon PLC		575	48,806
Arch Capital Group, Ltd.(NON)		421	24,132
Aspen Insurance Holdings, Ltd.		320	14,650
Axis Capital Holdings, Ltd.		404	18,483
Chubb Corp. (The)		749	68,968
Everest Re Group, Ltd.		159	25,127
PartnerRe, Ltd.		199	20,975
ProAssurance Corp.		480	21,802
RenaissanceRe Holdings, Ltd.		276	27,934
Travelers Cos., Inc. (The)		857	77,627
Validus Holdings, Ltd.		654	24,244
W.R. Berkley Corp.		627	27,738
			494,060
Internet and catalog retail (1.1%)
Priceline Group, Inc. (The)(NON)		52	60,203
			60,203
Internet software and services (3.0%)
Google, Inc. Class A(NON)		132	70,604
Google, Inc. Class C(NON)		132	69,519
VeriSign, Inc.(NON)		491	23,165
			163,288
IT Services (5.2%)
Accenture PLC Class A		322	25,831
Amdocs, Ltd.		634	29,500
Automatic Data Processing, Inc.		884	68,917
Broadridge Financial Solutions, Inc.		601	23,042
DST Systems, Inc.		236	21,757
Gartner, Inc.(NON)		389	26,818
MasterCard, Inc. Class A		1,195	87,892
			283,757
Media (2.4%)
Madison Square Garden Co. (The) Class A(NON)		148	8,081
Omnicom Group, Inc.		361	24,432
Scripps Networks Interactive Class A		137	10,285
Thomson Reuters Corp. (Canada)		560	20,261
Viacom, Inc. Class B		771	65,520
			128,579
Multi-utilities (0.9%)
CMS Energy Corp.		439	13,306
PG&E Corp.		737	33,592
			46,898
Multiline retail (1.4%)
Dillards, Inc. Class A		72	7,051
Dollar Tree, Inc.(NON)		336	17,496
Target Corp.		817	50,450
			74,997
Oil, gas, and consumable fuels (9.2%)
Chevron Corp.		963	120,876
ConocoPhillips		683	50,754
EQT Corp.		132	14,387
Exxon Mobil Corp.		1,764	180,647
Kinder Morgan, Inc.		493	16,101
Occidental Petroleum Corp.		456	43,662
Phillips 66		378	31,457
Spectra Energy Corp.		483	19,180
Williams Cos., Inc. (The)		484	20,410
			497,474
Pharmaceuticals (9.5%)
AbbVie, Inc.		429	22,342
Eli Lilly & Co.		971	57,386
Forest Laboratories, Inc.(NON)		396	36,396
Johnson & Johnson		1,394	141,198
Merck & Co., Inc.		2,029	118,818
Perrigo Co. PLC		140	20,280
Pfizer, Inc.		3,721	116,393
			512,813
Professional services (0.7%)
Equinix, Inc.		261	18,481
Verisk Analytics, Inc. Class A(NON)		306	18,388
			36,869
Real estate investment trusts (REITs) (2.4%)
Public Storage(R)		424	74,416
Simon Property Group, Inc.(R)		338	58,542
			132,958
Road and rail (1.6%)
Union Pacific Corp.		460	87,598
			87,598
Semiconductors and semiconductor equipment (0.6%)
Maxim Integrated Products, Inc.		997	32,343
			32,343
Software (5.5%)
FactSet Research Systems, Inc.		209	22,259
Intuit, Inc.		633	47,950
MICROS Systems, Inc.(NON)		416	21,424
Microsoft Corp.		3,099	125,200
Oracle Corp.		1,395	57,028
Synopsys, Inc.(NON)		657	24,716
			298,577
Specialty retail (3.6%)
Aaron's, Inc.		233	6,867
Advance Auto Parts, Inc.		110	13,342
AutoZone, Inc.(NON)		45	24,025
Bed Bath & Beyond, Inc.(NON)		313	19,447
Home Depot, Inc. (The)		1,077	85,632
Lowe's Cos., Inc.		449	20,614
PetSmart, Inc.		176	11,912
TJX Cos., Inc. (The)		216	12,567
			194,406
Technology hardware, storage, and peripherals (3.0%)
Apple, Inc.		277	163,455
			163,455
Textiles, apparel, and luxury goods (0.8%)
VF Corp.		682	41,663
			41,663
Tobacco (3.2%)
Altria Group, Inc.		2,577	103,363
Lorillard, Inc.		1,156	68,690
			172,053
Trading companies and distributors (0.4%)
MRC Global, Inc.(NON)		277	8,086
MSC Industrial Direct Co., Inc. Class A		136	12,384
			20,470
Wireless telecommunication services (0.3%)
SBA Communications Corp. Class A(NON)		185	16,606
			16,606
Total common stocks (cost $4,693,429)			$5,200,519
PURCHASED OPTIONS OUTSTANDING (2.1%)(a)
	Expiration	Contract
	date/strike price	amount	Value
SPDR S&P 500 ETF Trust (Put)	Nov-14/$155.00	$5,840	$8,311
SPDR S&P 500 ETF Trust (Put)	Apr-15/164.00	6,342	30,246
SPDR S&P 500 ETF Trust (Put)	Mar-15/164.00	6,042	26,156
SPDR S&P 500 ETF Trust (Put)	Feb-15/163.00	5,548	19,787
SPDR S&P 500 ETF Trust (Put)	Jan-15/162.00	5,707	16,860
SPDR S&P 500 ETF Trust (Put)	Dec-14/158.00	5,842	11,965
Total purchased options outstanding (cost $186,156)			$113,325
SHORT-TERM INVESTMENTS (5.0%)(a)
		Shares	Value
Putnam Short Term Investment Fund 0.06%(AFF)		160,780	$160,780
SSgA Prime Money Market Fund zero %(P)		110,000	110,000
Total short-term investments (cost $270,780)			$270,780
TOTAL INVESTMENTS
Total investments (cost $5,150,365)(b)			$5,584,624

WRITTEN OPTIONS OUTSTANDING at 4/30/14 (premiums $11,973) (Unaudited)
	Expiration	Contract
	date/strike price	amount	Value
SPDR S&P 500 ETF Trust (Call)	May-14/$194.00	$12,040	$3,311
SPDR S&P 500 ETF Trust (Call)	May-14/191.50	3,011	1,903
SPDR S&P 500 ETF Trust (Call)	May-14/192.00	14,262	5,044
SPDR S&P 500 ETF Trust (Call)	May-14/188.50	3,131	3,976
SPDR S&P 500 ETF Trust (Call)	May-14/192.00	2,622	34
Total			$14,268

OTC TOTAL RETURN SWAP CONTRACTS OUTSTANDING at 4/30/14 (Unaudited)
		Upfront		Payments	Total return	Unrealized
Swap counterparty/		premium	Termination	received (paid) by	received by	appreciation/
Notional amount		received (paid)	date	fund per annum	or paid by fund	(depreciation)
Deutsche Bank AG
baskets	12,218	$—	3/18/15	(3 month USD-LIBOR-BBA plus 28 bp)	A basket (DBPTNLVE) of common stocks	$14,343
Total		$—	$14,343

Key to holding's abbreviations
ETF	Exchange Traded Fund
SPDR	S&P Depository Receipts

	Notes to the fund's portfolio
	Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from August 1, 2013 through April 30, 2014 (the reporting period). Within the following notes to the portfolio, references to “ASC 820” represent Accounting Standards Codification 820 Fair Value Measurements and Disclosures, references to “Putnam Management” represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC and references to “OTC”, if any, represent over-the-counter.
(a)	Percentages indicated are based on net assets of $5,421,032.
(b)	The aggregate identified cost on a tax basis is $5,151,625, resulting in gross unrealized appreciation and depreciation of $543,981 and $110,982, respectively, or net unrealized appreciation of $432,999.
(NON)	Non-income-producing security.
(AFF)	Affiliated company. The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period. Transactions during the period with Putnam Short Term Investment Fund, which is under common ownership and control, were as follows:
	Name of affiliate	Fair value at the beginning of the reporting period	Purchase cost	Sale proceeds	Investment income	Fair value at the end of the reporting period
	Putnam Short Term Investment Fund *	$261,455	$1,203,198	$1,303,873	$135	$160,780
	* Management fees charged to Putnam Short Term Investment Fund have been waived by Putnam Management.
(P)	Security was pledged, or purchased with cash that was pledged, to the fund for collateral on certain derivative contracts. The rate quoted in the security description is the annualized 7-day yield of the fund at the close of the reporting period.
(R)	Real Estate Investment Trust.
	At the close of the reporting period, the fund maintained liquid assets totaling $14,306 to cover certain derivatives contracts.
	Security valuation: Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under ASC 820. If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level 2 security.
	Investments in open-end investment companies (excluding exchange traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals the total value of their assets less their liabilities and divided by the number of their outstanding shares.
	Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign equity securities taking into account multiple factors including movements in the U.S. securities markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. These securities, which would generally be classified as Level 1 securities, will be transferred to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. Short-term securities with remaining maturities of 60 days or less may be valued at amortized cost, which approximates fair value and are classified as Level 2 securities.
	To the extent a pricing service or dealer is unable to value a security or provides a valuation that Putnam Management does not believe accurately reflects the security's fair value, the security will be valued at fair value by Putnam Management in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures and recovery rates. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs.
	Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.
	Options contracts: The fund used options contracts to generate additional income for the portfolio and to manage downside risks.
	The potential risk to the fund is that the change in value of options contracts may not correspond to the change in value of the hedged instruments. In addition, losses may arise from changes in the value of the underlying instruments if there is an illiquid secondary market for the contracts, if interest or exchange rates move unexpectedly or if the counterparty to the contract is unable to perform. Realized gains and losses on purchased options are included in realized gains and losses on investment securities. If a written call option is exercised, the premium originally received is recorded as an addition to sales proceeds. If a written put option is exercised, the premium originally received is recorded as a reduction to the cost of investments.
	Exchange traded options are valued at the last sale price or, if no sales are reported, the last bid price for purchased options and the last ask price for written options. OTC traded options are valued using prices supplied by dealers.
	Options on swaps are similar to options on securities except that the premium paid or received is to buy or grant the right to enter into a previously agreed upon interest rate or credit default contract. Forward premium swap options contracts include premiums that have extended settlement dates. The delayed settlement of the premiums are factored into the daily valuation of the option contracts. In the case of interest rate cap and floor contracts, in return for a premium, ongoing payments between two parties are based on interest rates exceeding a specified rate, in the case of a cap contract, or falling below a specified rate in the case of a floor contract.
	For the fund's average contract amount on options contracts, see the appropriate table at the end of these footnotes.
	Total return swap contracts: The fund entered into OTC total return swap contracts, which are arrangements to exchange a market linked return for a periodic payment, both based on a notional principal amount, to gain exposure to specific sectors or industries.
	To the extent that the total return of the security, index or other financial measure underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the fund will receive a payment from or make a payment to the counterparty. OTC total return swap contracts are marked to market daily based upon quotations from an independent pricing service or market makers and the change, if any, is recorded as an unrealized gain or loss. Payments received or made are recorded as realized gains or losses. Certain OTC total return swap contracts may include extended effective dates. Payments related to these swap contracts are accrued based on the terms of the contract. The fund could be exposed to credit or market risk due to unfavorable changes in the fluctuation of interest rates or in the price of the underlying security or index, the possibility that there is no liquid market for these agreements or that the counterparty may default on its obligation to perform. The fund’s maximum risk of loss from counterparty risk is the fair value of the contract. This risk may be mitigated by having a master netting arrangement between the fund and the counterparty.
	For the fund's average notional amount on OTC total return swap contracts, see the appropriate table at the end of these footnotes.
	Master agreements: The fund is a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements (Master Agreements) with certain counterparties that govern OTC derivative and foreign exchange contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral posted to the fund is held in a segregated account by the fund’s custodian and with respect to those amounts which can be sold or repledged, are presented in the fund’s portfolio.
	Collateral pledged by the fund is segregated by the fund’s custodian and identified in the fund’s portfolio. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by the fund and the applicable counterparty. Collateral requirements are determined based on the fund’s net position with each counterparty.
	Termination events applicable to the fund may occur upon a decline in the fund’s net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty’s long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the fund’s counterparties to elect early termination could impact the fund's future derivative activity.
	At the close of the reporting period, the fund had a net liability position of $4,054 on open derivative contracts subject to the Master Agreements. There was no collateral posted by the fund for these agreements.

ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund’s investments. The three levels are defined as follows:
Level 1: Valuations based on quoted prices for identical securities in active markets.
Level 2: Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
Level 3: Valuations based on inputs that are unobservable and significant to the fair value measurement.
The following is a summary of the inputs used to value the fund’s net assets as of the close of the reporting period:
		Valuation inputs
Investments in securities:	Level 1	Level 2	Level 3
Common stocks*:
Consumer discretionary	$647,472	$—	$—
Consumer staples	494,072	—	—
Energy	504,261	—	—
Financials	882,914	—	—
Health care	682,863	—	—
Industrials	587,998	—	—
Information technology	941,420	—	—
Materials	194,095	—	—
Telecommunication services	107,215	—	—
Utilities	158,209	—	—
Total common stocks	5,200,519	—	—
Purchased options outstanding	$—	$113,325	$—
Short-term investments	270,780	—	—
Totals by level	$5,471,299	$113,325	$—
		Valuation inputs
Other financial instruments:	Level 1	Level 2	Level 3
Written options outstanding	$—	$(14,268)	$—
Total return swap contracts	—	14,343	—
Totals by level	$—	$75	$—
* Common stock classifications are presented at the sector level, which may differ from the fund's portfolio presentation.
Fair Value of Derivative Instruments as of the close of the reporting period
	Asset derivatives	Liability derivatives
Derivatives not accounted for as hedging instruments under ASC 815	Fair value	Fair value
Equity contracts	$127,668	$14,268
Total	$127,668	$14,268
The volume of activity for the reporting period for any derivative type that was held at the close of the period is listed below and was as follows based on an average of the holdings of that derivative at the end of each fiscal quarter in the reporting period:
Purchased equity option contracts (contract amount)		$32,000
Written equity option contracts (contract amount)		$32,000
OTC total return swap contracts (notional)		$1,300,000

	The following table summarizes any derivatives, repurchase agreements and reverse repurchase agreements, at the end of the reporting period, that are subject to an enforceable master netting agreement or similar agreement. For securities lending transactions, if applicable, see note "(d)" above, and for borrowing transactions associated with securities sold short, if applicable, see the "Short sales of securities" note above.
		Bank of America N.A.	Deutsche Bank AG	Total
	Assets:
	OTC Total return swap contracts*#	$—	$14,343	$14,343
	Purchased options#	8,311	105,014	113,325
	Total Assets	$8,311	$119,357	$127,668
	Liabilities:
	OTC Total return swap contracts*#	—	—	—
	Written options#	12,365	1,903	14,268
	Total Liabilities	$12,365	$1,903	$14,268
	Total Financial and Derivative Net Assets	$(4,054)	$117,454	$113,400
	Total collateral received (pledged)##†	$—	$110,000	$110,000
	Net amount	$(4,054)	$7,454	$3,400
*	Excludes premiums, if any.
†	Additional collateral may be required from certain brokers based on individual agreements.
#	Covered by master netting agreement.
##	Any over-collateralization of total financial and derivative net assets is not shown. Collateral may include amounts related to unsettled agreements.
	For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com

Item 2. Controls and Procedures:

(a) The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms.

(b) Changes in internal control over financial reporting: Not applicable

Item 3. Exhibits:

Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Putnam Funds Trust

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: June 26, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title):

/s/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: June 26, 2014

By (Signature and Title):

/s/ Steven D. Krichmar
Steven D. Krichmar
Principal Financial Officer
Date: June 26, 2014

EX-99.CERT

Certifications

I, Jonathan S. Horwitz, the Principal Executive Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting.

/s/ Jonathan S. Horwitz

_____________________________

Date: June 25, 2014

Jonathan S. Horwitz

Principal Executive Officer

Certifications

I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that:

1. I have reviewed each report on Form N-Q of the funds listed on Attachment A:

2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;

3. Based on my knowledge, the schedules of investments included in each report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrants and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to each registrant’s auditors and the audit committee of each registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant’s internal control over financial reporting.

/s/ Steven D. Krichmar

_______________________________

Date: June 25, 2014

Steven D. Krichmar

Principal Financial Officer

Attachment A

NQ

Period (s) ended April 30, 2014

               Putnam Premier Income Trust

               Putnam Research Fund

               Putnam Investors Fund

               Putnam Voyager Fund

               Putnam Tax Free High Yield Fund

               Putnam AMT-Free Insured Municipal Fund

               Putnam Growth Opportunities Fund

               The George Putnam Fund of Boston (d/b/a/ George Putnam Balanced Fund)

               Putnam Short Duration Income Fund

               Putnam Short Term Investment Fund

               Putnam Strategic Volatility Equity Fund

               Putnam Low Volatility Equity Fund

               Putnam RetirementReady – Funds:

               Putnam RetirementReady – 2055

               Putnam RetirementReady – 2050

               Putnam RetirementReady – 2045

               Putnam RetirementReady – 2040

               Putnam RetirementReady – 2035

               Putnam RetirementReady – 2030

               Putnam RetirementReady – 2025

               Putnam RetirementReady – 2020

               Putnam RetirementReady – 2015

               Putnam Retirement Income Fund Lifestyle 1