0000928816-17-000812.txt : 20170316 0000928816-17-000812.hdr.sgml : 20170316 20170316102211 ACCESSION NUMBER: 0000928816-17-000812 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 21 FILED AS OF DATE: 20170316 DATE AS OF CHANGE: 20170316 EFFECTIVENESS DATE: 20170316 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM FUNDS TRUST CENTRAL INDEX KEY: 0001005942 IRS NUMBER: 043299786 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-00515 FILM NUMBER: 17693234 BUSINESS ADDRESS: STREET 1: ONE POST STREET 2: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921010 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM FUNDS TRUST CENTRAL INDEX KEY: 0001005942 IRS NUMBER: 043299786 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07513 FILM NUMBER: 17693235 BUSINESS ADDRESS: STREET 1: ONE POST STREET 2: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921010 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 0001005942 S000023452 PUTNAM ABSOLUTE RETURN 500 FUND C000068886 CLASS A C000068887 CLASS B C000068888 CLASS C C000068889 CLASS M C000068890 CLASS R C000068891 CLASS Y C000118002 Class R6 C000174700 Class P Shares C000185688 Class T Shares 0001005942 S000024274 Putnam Absolute Return 100 Fund C000071705 Class A C000071706 Class B C000071707 Class C C000071708 Class M C000071709 Class R C000071710 Class Y C000118004 Class R6 C000174701 Class P Shares C000185689 Class T Shares 0001005942 S000024275 Putnam Absolute Return 300 Fund C000071711 Class M C000071712 Class R C000071713 Class Y C000071714 Class A C000071715 Class B C000071716 Class C C000118006 Class R6 C000174702 Class P Shares C000185690 Class T Shares 0001005942 S000024276 Putnam Absolute Return 700 Fund C000071717 Class A C000071718 Class B C000071719 Class C C000071720 Class M C000071721 Class R C000071722 Class Y C000118008 Class R6 C000174703 Class P Shares C000185691 Class T Shares 0001005942 S000028349 Putnam Global Sector Fund C000086618 CLASS A C000086619 CLASS B C000086620 CLASS C C000086621 CLASS M C000086622 CLASS R C000086623 CLASS Y C000185692 Class T Shares 485BPOS 1 a_pftcov260.htm PUTNAM FUNDS TRUST a_pftcov260.htm
As filed with the Securities and Exchange Commission on   
March 16, 2017   
 
  Registration No. 333-515 
  811-07513 

 
SECURITIES AND EXCHANGE COMMISSION   
WASHINGTON, D.C. 20549   
 
---------------   
 
FORM N-1A   
    ---- 
  REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933  / X / 
    ---- 
    ---- 
  Pre-Effective Amendment No.  /    / 
    ---- 
    ---- 
  Post-Effective Amendment No. 260 / X / 
  and  ---- 
 
    ---- 
  REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY  / X / 
  ACT OF 1940  ---- 
    ---- 
  Amendment No. 261  / X / 
  (Check appropriate box or boxes)  ---- 
 
---------------   
PUTNAM FUNDS TRUST   
(Exact Name of Registrant as Specified in Charter)   
 
One Post Office Square, Boston, Massachusetts 02109   
(Address of Principal Executive Offices) (Zip Code)   
 
Registrant's Telephone Number, including Area Code   
(617) 292-1000   

 


----------------- 

 


  It is proposed that this filing will become effective 
  (check appropriate box) 
 
----   
/    /  immediately upon filing pursuant to paragraph (b) 
----   
----   
/ X /  on February 28, 2017 pursuant to paragraph (b) 
----   
----   
/    /  60 days after filing pursuant to paragraph (a)(1) 
----   
----   
/    /  on (date) pursuant to paragraph (a)(1) 
----   
----   
/    /  75 days after filing pursuant to paragraph (a)(2) 
----   
----   
/    /  on (date) pursuant to paragraph (a)(2) of Rule 485. 
----   
 
If appropriate, check the following box: 
----   
/    /  this post-effective amendment designates a new 
----  effective date for a previously filed post-effective amendment. 
 
  -------------- 
  ROBERT T. BURNS, Vice President 
  PUTNAM FUNDS TRUST 
  One Post Office Square 
  Boston, Massachusetts 02109 
  (Name and address of agent for service) 
  --------------- 
  Copy to: 
 
  BRYAN CHEGWIDDEN, Esquire 
  ROPES & GRAY LLP 
  1211 Avenue of the Americas 
  New York, New York 10036 
  --------------------- 

 

This Post-Effective Amendment relates solely to the Registrant's Putnam Absolute Return 100 Fund, Putnam Absolute Return 300 Fund, Putnam Absolute Return 500 Fund, Putnam Absolute Return 700 Fund and Putnam Global Sector Fund, each a series of



Putnam Funds Trust. Information contained in the Registrant's Registration Statement relating to any other series of the Registrant is neither amended nor superseded hereby.



SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Boston, and The Commonwealth of Massachusetts, on the 16th day of March, 2017.

 

 

Putnam Funds Trust

 

By: /s/ Jonathan S. Horwitz, Executive Vice President,

Principal Executive Officer and Compliance Liaison

 

Pursuant to the requirements of the Securities Act of 1933, as amended, this Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the date indicated:

 

Signature Title
Jameson A. Baxter * Chair, Board of Trustees

 

Kenneth R. Leibler* Vice Chair, Board of Trustees

 

Robert L. Reynolds* President and Trustee

 

Jonathan S. Horwitz* Executive Vice President, Principal Executive Officer and Compliance
  Liaison

 

Janet C. Smith** Vice President, Principal Financial Officer, Principal Accounting Officer
  and Assistant Treasurer

 

Liaquat Ahamed* Trustee

 

Ravi Akhoury* Trustee

 

Barbara M. Baumann* Trustee

 

Robert J. Darretta* Trustee

 

Katinka Domotorffy* Trustee

 

John A. Hill* Trustee

 

Paul L. Joskow* Trustee

 

Robert E. Patterson* Trustee

 

George Putnam, III* Trustee

 

W. Thomas Stephens* Trustee

 

 

By: /s/ Jonathan S. Horwitz, as Attorney-in-Fact

March 16, 2017

*Signed pursuant to power of attorney filed in Post-Effective Amendment No. 150 to the Registrant’s Registration Statement on September 28, 2012.

 

** Signed pursuant to power of attorney filed in Post-Effective Amendment No. 247 to the Registrant’s Registration Statement on November 25, 2016.

 

 

 

 

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PFT:C000086623Member 2016-02-25 2017-02-28 0001005942 PFT:S000028349Member PFT:C000086618Member rr:AfterTaxesOnDistributionsMember 2016-02-25 2017-02-28 0001005942 PFT:S000028349Member PFT:C000086618Member rr:AfterTaxesOnDistributionsAndSalesMember 2016-02-25 2017-02-28 0001005942 PFT:S000028349Member PFT:MSCIWorldIndexMember 2016-02-25 2017-02-28 iso4217:USD xbrli:pure 2016-12-31 PUTNAM FUNDS TRUST 0001005942 false PFT 2017-02-28 2017-02-28 2017-02-28 485BPOS <b>Fund Summary</b> <b>Fund Summary</b> <b>Fund Summary</b> <b>Fund Summary</b> <b>Fund summary</b> <b>Goal</b> <b>Goal</b> <b>Goal</b> <b>Goal</b> <b>Goal</b> Putnam Absolute Return 500 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 500 basis points (or 5.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions. Putnam Absolute Return 100 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 100 basis points (or 1.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions. Putnam Absolute Return 300 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 300 basis points (or 3.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions. Putnam Absolute Return 700 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 700 basis points (or 7.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions. Putnam Global Sector Fund seeks capital appreciation. <b>Fees and expenses</b> <b>Fees and expenses</b> <b>Fees and expenses</b> <b>Fees and expenses</b> <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 <i>How do I buy fund shares?</i> beginning on page 40 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 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 $500,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in <i>How do I buy fund shares?</i> beginning on page 40 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 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 $500,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in <i>How do I buy fund shares?</i> beginning on page 40 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 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 <i>How do I buy fund shares?</i> beginning on page 40 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 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 <i>How do I buy fund shares?</i> beginning on page 19 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). <b>Shareholder fees </b><i>(fees paid directly from your investment) <b>Shareholder fees </b><i>(fees paid directly from your investment) <b>Shareholder fees </b><i>(fees paid directly from your investment) <b>Shareholder fees </b><i>(fees paid directly from your investment) <b>Shareholder fees </b><i>(fees paid directly from your investment) <b>Annual fund operating expenses </b><i>(expenses you pay each year as a percentage of the value of your investment)</i> <b>Annual fund operating expenses </b><i>(expenses you pay each year as a percentage of the value of your investment)</i> <b>Annual fund operating expenses </b><i>(expenses you pay each year as a percentage of the value of your investment)</i> <b>Annual fund operating expenses </b><i>(expenses you pay each year as a percentage of the value of your investment)</i> <b>Annual fund operating expenses </b><i>(expenses you pay each year as a percentage of the value of your investment)</i> <b>Example</b> <b>Example</b> <b>Example</b> <b>Example</b> <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. 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 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 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 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 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. 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. <b>Portfolio turnover</b> <b>Portfolio turnover</b> <b>Portfolio turnover</b> <b>Portfolio turnover</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 522%. 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 129%. 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 428%. 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 578%. 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 44%. 5.22 1.29 4.28 5.78 0.44 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 <font style="font-weight: normal"><i>How do I buy fund shares?</i></font> beginning on page 40 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <font style="font-weight: normal"><i>How to buy shares</i></font> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $500,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in <i>How do I buy fund shares?</i> beginning on page 40 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $500,000 in Putnam funds. More information about these and other discounts is available from your financial advisor and in <i>How do I buy fund shares?</i> beginning on page 40 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 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 <i>How do I buy fund shares?</i> beginning on page 40 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 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 <i>How do I buy fund shares?</i> beginning on page 19 of the fund&#8217;s prospectus, in the Appendix to the fund&#8217;s prospectus, and in <i>How to buy shares</i> beginning on page II-1 of the fund&#8217;s statement of additional information (SAI). 50000 500000 500000 50000 50000 <b>Investments</b> <b>Investments</b> <b>Investments</b> <b>Investments</b> <b>Investments</b> <b>Risks</b> <b>Risks</b> <b>Risks</b> <b>Risks</b> <b>Risks</b> It is important to understand that you can lose money by investing in the fund. It is important to understand that you can lose money by investing in the fund. It is important to understand that you can lose money by investing in the fund. It is important to understand that you can lose money by investing in the fund. 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. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <b>Performance</b> <b>Performance</b> <b>Performance</b> <b>Performance</b> <b>Performance</b> The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund&#146;s performance year to year and over time. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund&#146;s performance year to year and over time. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund&#146;s performance year to year and over time. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund&#146;s performance year to year and over time. The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund&#146;s performance year to year and over time. putnam.com putnam.com putnam.com putnam.com putnam.com Please remember that past performance is not necessarily an indication of future results. Please remember that past performance is not necessarily an indication of future results. Please remember that past performance is not necessarily an indication of future results. Please remember that past performance is not necessarily an indication of future results. Please remember that past performance is not necessarily an indication of future results. <b>Annual total returns for class A shares before sales charges</b> <b>Annual total returns for class A shares before sales charges</b> <b>Annual total returns for class A shares before sales charges</b> <b>Annual total returns for class A shares before sales charges</b> <b>Annual total returns for class A shares before sales charges</b> The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. The bar chart does not reflect the impact of sales charges. If it did, performance would be lower. <b>Average annual total returns after sales charges </b><i>(for periods ending 12/31/16)</i> <b>Average annual total returns after sales charges </b><i>(for periods ending 12/31/16)</i> <b>Average annual total returns after sales charges </b><i>(for periods ending 12/31/16)</i> <b>Average annual total returns after sales charges </b><i>(for periods ending 12/31/16)</i> <b>Average annual total returns after sales charges </b><i>(for periods ending 12/31/16)</i> 0.0575 0 0 0.0350 0 0 0 0.0100 0 0 0.0075 0 0 0 0.0075 0 0 0.0100 0 0 0 0.0575 0 0 0.0350 0 0 0 0.0250 0 0.0250 0.0250 0 0 0 0 0.0575 0 0 0.0350 0 0.0250 0 0.0100 0.0500 0.0100 0 0 0 0 0.0100 0.0100 0.0100 0 0 0 0 0 0 0 0.0100 0.0100 0.0100 0 0.0100 0.0500 0.0100 0 0 0 0 0 0 0 0 0 0 0 0 0.0100 0.0500 0.0100 0 0 0 0 <div style="display: none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact PFT_S000023452Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact PFT_S000024274Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact PFT_S000024275Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact PFT_S000024276Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact PFT_S000028349Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div 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http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact PFT_S000028349Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact PFT_S000023452Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact PFT_S000024274Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact PFT_S000024275Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact PFT_S000024276Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact PFT_S000028349Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column period compact * column dei_LegalEntityAxis compact PFT_S000023452Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column period compact * column dei_LegalEntityAxis compact PFT_S000024274Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column period compact * column dei_LegalEntityAxis compact PFT_S000024275Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column period compact * column dei_LegalEntityAxis compact PFT_S000024276Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column period compact * column dei_LegalEntityAxis compact PFT_S000028349Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> The fund is designed to pursue a consistent absolute return by combining two independent investment strategies &#8212; a <font style="font-weight: normal"><i>beta</i></font> strategy, which provides broad exposure to investment markets, and an <font style="font-weight: normal"><i>alpha</i></font> strategy, which seeks returns from active trading. The <font style="font-weight: normal"><i>beta</i></font> strategy seeks to balance risk and to provide positive total return by investing, without limit, in many different asset classes, including U.S., international, and emerging markets equity securities (growth or value stocks or both) and fixed-income securities; mortgage- and asset-backed securities; below-investment-grade securities (sometimes referred to as &#8220;junk bonds&#8221;); inflation-protected securities; commodities; and real estate investment trusts (REITs). The <font style="font-weight: normal"><i>alpha</i></font> strategy involves the potential use of active trading strategies designed to provide additional total return through active security selection, tactical asset allocation, currency transactions and options transactions. In pursuing a consistent absolute return, the fund&#8217;s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, balanced portfolios with significant exposure to both stocks and bonds.<br /> <br /> 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 when deciding whether to buy or sell fixed-income investments. We may also take into account general market conditions when making investment decisions. We typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, to a significant extent for hedging purposes and to increase the fund&#8217;s exposure to the asset classes and strategies mentioned above, which may create investment leverage.<br /> <br /> Putnam Absolute Return 500 Fund has a lower risk and return profile than Putnam Absolute Return 700 Fund as a result of decreased exposure to the asset classes and strategies mentioned above.<br /> The fund is designed to pursue a consistent absolute return through a broadly diversified portfolio reflecting uncorrelated fixed-income strategies designed to exploit market inefficiencies across global markets and fixed-income sectors. These strategies include investments in the following asset categories: (a) sovereign debt: obligations of governments in developed and emerging markets; (b) corporate credit: investment-grade debt, below-investment-grade debt (sometimes referred to as &#8220;junk bonds&#8221;), bank loans, convertible bonds and structured credit; and (c) securitized assets: asset-backed securities, residential mortgage-backed securities (which may be backed by non-qualified or &#8220;sub-prime&#8221; mortgages), commercial mortgage-backed securities and collateralized mortgage obligations. In pursuing a consistent absolute return, the fund&#8217;s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, short-term debt securities.<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 typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. Accordingly, we may use derivatives to a significant extent to obtain or enhance exposure to the fixed-income sectors and strategies mentioned above, and to hedge against risk.<br /> <br /> Putnam Absolute Return 100 Fund has a lower risk and return profile than Putnam Absolute Return 300 Fund as a result of decreased exposure to the fixed-income sectors and strategies mentioned above. Another distinction between the funds is that Putnam Absolute Return 100 Fund may maintain a higher cash position from time to time. The fund is designed to pursue a consistent absolute return through a broadly diversified portfolio reflecting uncorrelated fixed-income strategies designed to exploit market inefficiencies across global markets and fixed-income sectors. These strategies include investments in the following asset categories: (a) sovereign debt: obligations of governments in developed and emerging markets; (b) corporate credit: investment-grade debt, below-investment-grade debt (sometimes referred to as &#8220;junk bonds&#8221;), bank loans, convertible bonds and structured credit; and (c) securitized assets: asset-backed securities, residential mortgage-backed securities (which may be backed by non-qualified or &#8220;sub-prime&#8221; mortgages), commercial mortgage-backed securities and collateralized mortgage obligations. In pursuing a consistent absolute return, the fund&#8217;s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, bonds with moderate exposure to interest rate and credit risks.<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 typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. Accordingly, we may use derivatives to a significant extent to obtain or enhance exposure to the fixed-income sectors and strategies mentioned above, and to hedge against risk.<br /> <br /> Putnam Absolute Return 300 Fund has a higher risk and return profile than Putnam Absolute Return 100 Fund as a result of increased exposure to the fixed-income sectors and strategies mentioned above. Another distinction between the funds is that Putnam Absolute Return 100 Fund may maintain a higher cash position from time to time. The fund is designed to pursue a consistent absolute return by combining two independent investment strategies &#8212; a <font style="font-weight: normal"><i>beta</i></font> strategy, which provides broad exposure to investment markets, and an <font style="font-weight: normal"><i>alpha</i></font> strategy, which seeks returns from active trading. The <font style="font-weight: normal"><i>beta</i></font> strategy seeks to balance risk and to provide positive total return by investing, without limit, in many different asset classes, including U.S., international, and emerging markets equity securities (growth or value stocks or both) and fixed-income securities; mortgage- and asset-backed securities; below-investment-grade securities (sometimes referred to as &#8220;junk bonds&#8221;); inflation-protected securities; commodities; and real estate investment trusts (REITs). The <font style="font-weight: normal"><i>alpha</i></font> strategy involves the potential use of active trading strategies designed to provide additional total return through active security selection, tactical asset allocation, currency transactions and options transactions. In pursuing a consistent absolute return, the fund&#8217;s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, equities or equity-like investments.<br /> <br /> 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 when deciding whether to buy or sell fixed-income investments. We may also take into account general market conditions when making investment decisions. We typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, to a significant extent for hedging purposes and to increase the fund&#8217;s exposure to the asset classes and strategies mentioned above, which may create investment leverage.<br /> <br /> Putnam Absolute Return 700 Fund has a higher risk and return profile than Putnam Absolute Return 500 Fund as a result of increased exposure to the asset classes and strategies mentioned above.<br /> We allocate the fund&#8217;s assets among eight Putnam global sector funds to provide exposure to sectors of the global market in approximately the same proportions as the sector weightings in the MSCI World Index. Each underlying fund is a non-diversified fund concentrating in the market sector specified in its name, and each invests mainly in common stocks (growth or value stocks or both) of large and midsize companies worldwide that we believe have favorable investment potential.<br /> <br /> <b>Global Consumer Fund</b> &#8212; Under normal circumstances, we invest at least 80% of this underlying fund&#8217;s net assets in securities of companies in the consumer staples and consumer discretionary products and services industries. This policy may be changed only after 60 days&#8217; notice to shareholders.<br /> <br /> <b>Global Financials Fund</b> &#8212; Under normal circumstances, we invest at least 80% of this underlying fund&#8217;s net assets in securities of companies in the financial services industries. This policy may be changed only after 60 days&#8217; notice to shareholders.<br /> <br /> <b>Global Health Care Fund</b> &#8212; Under normal circumstances, we invest at least 80% of this underlying fund&#8217;s net assets in securities of companies in the health care industries. This policy may be changed only after 60 days&#8217; notice to shareholders.<br /> <br /> <b>Global Industrials Fund</b> &#8212; Under normal circumstances, we invest at least 80% of this underlying fund&#8217;s net assets in securities of companies in the industrial products, services or equipment industries. This policy may be changed only after 60 days&#8217; notice to shareholders.<br /> <br /> <b>Global Natural Resources Fund</b> &#8212; Under normal circumstances, we invest at least 80% of this underlying fund&#8217;s net assets in securities of companies in the energy or other natural resources industries. This policy may be changed only after 60 days&#8217; notice to shareholders.<br /> <br /> <b>Global Technology Fund</b> &#8212; Under normal circumstances, we invest at least 80% of this underlying fund&#8217;s net assets in securities of companies in the technology industries. This policy may be changed only after 60 days&#8217; notice to shareholders.<br /> <br /> <b>Global Telecommunications Fund</b> &#8212; Under normal circumstances, we invest at least 80% of this underlying fund&#8217;s net assets in securities of companies in the telecommunication industries. This policy may be changed only after 60 days&#8217; notice to shareholders.<br /> <br /> <b>Global Utilities Fund</b> &#8212; Under normal circumstances, we invest at least 80% of this underlying fund&#8217;s net assets in securities of companies worldwide in the utilities industries. This policy may be changed only after 60 days&#8217; notice to shareholders.<br /> <br /> Each underlying fund may invest in emerging markets, use derivatives, such as futures, options, foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes, and engage in short sales of securities.<br /> <br /> We seek to rebalance the fund&#8217;s allocations monthly to remain in alignment with the index. The following table shows the fund&#8217;s approximate allocations to the underlying funds as of 12/31/16: <table style="font: 10px Arial, Helvetica, Sans-Serif; margin-top: 9px; width: 90%"> <tr> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 600; line-height: 1.06; text-align: left; width: 70%">Underlying fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 600; line-height: 1.06; text-align: left; width: 30%">Approximate allocation as of 12/31/16</td></tr> <tr style="background-color: rgb(209,211,212)"> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">Putnam Global Consumer Fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">21.99%</td></tr> <tr style="background-color: rgb(230,231,232)"> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">Putnam Global Financials Fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">21.24%</td></tr> <tr style="background-color: rgb(209,211,212)"> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">Putnam Global Technology Fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">14.51%</td></tr> <tr style="background-color: rgb(230,231,232)"> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">Putnam Global Health Care Fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">12.08%</td></tr> <tr style="background-color: rgb(209,211,212)"> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">Putnam Global Natural Resources Fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">12.06%</td></tr> <tr style="background-color: rgb(230,231,232)"> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">Putnam Global Industrials Fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">11.15%</td></tr> <tr style="background-color: rgb(209,211,212)"> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">Putnam Global Telecommunications Fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">3.36%</td></tr> <tr style="background-color: rgb(230,231,232)"> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">Putnam Global Utilities Fund</td> <td style="color: #000000; font-style: normal; font-variant: normal; font-weight: 300; line-height: 1.12; text-align: left">3.19%</td></tr> </table><br /> We may also invest in money market securities or affiliated money market or short-term fixed income funds for cash management. It is important to understand that you can lose money by investing in the fund. <br /> <br /> Our allocation of assets among asset classes may hurt performance. The value 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 general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund&#8217;s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound.<br /> <br /> Bond investments are subject to interest rate risk, which means the value of the fund&#8217;s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.<br /> <br /> 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 or become illiquid. Our <i>alpha</i> strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Derivatives also involve the risk, in the case of many over-the-counter instruments, 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. The fund&#8217;s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.<br /> <br /> <b>Investor profile</b><br /> <br /> The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a balanced fund, or a fund that can manage allocations and risk across global asset classes. It is important to understand that you can lose money by investing in the fund.<br /> <br /> Our allocation of assets among fixed-income strategies and sectors may hurt performance. The value of bonds in the fund&#8217;s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund&#8217;s portfolio holdings.<br /> <br /> Bond investments are subject to interest rate risk, which means the value of the fund&#8217;s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.<br /> <br /> 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 or become illiquid. 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. The fund&#8217;s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.<br /> <br /> <b>Investor profile</b> <br /> The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are seeking cash investments that earn a stable return and income over time, particularly if you are in or near retirement.<br /><br /> It is important to understand that you can lose money by investing in the fund.<br /> <br /> Our allocation of assets among fixed-income strategies and sectors may hurt performance. The value of bonds in the fund&#8217;s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund&#8217;s portfolio holdings.<br /> <br /> Bond investments are subject to interest rate risk, which means the value of the fund&#8217;s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.<br /> <br /> 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 or become illiquid. 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. The fund&#8217;s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.<br /> <br /> <b>Investor profile</b><br /> <br /> The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a bond fund with moderate exposure to interest rate and credit risks. It is important to understand that you can lose money by investing in the fund.<br /> <br /> Our allocation of assets among asset classes may hurt performance. The value 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 general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund&#8217;s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound.<br /> <br /> Bond investments are subject to interest rate risk, which means the value of the fund&#8217;s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.<br /> <br /> 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 or become illiquid. Our <i>alpha</i> strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Derivatives also involve the risk, in the case of many over-the-counter instruments, 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. The fund&#8217;s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.<br /> <br /> <b>Investor profile</b><br /> <br /> The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a stock fund, or a fund that can manage allocations and risk across global asset classes. It is important to understand that you can lose money by investing in the fund.<br /> <br /> Our allocation of investments among the underlying funds may hurt performance. In addition, the fund&#8217;s performance is subject to the risks that may affect the performance of the underlying funds, which are as follows. The value of stocks in an underlying fund&#8217;s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific company or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund&#8217;s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. An underlying fund&#8217;s policy of concentrating on a limited group of industries and an underlying fund&#8217;s &#8220;non-diversified&#8221; status, which means the underlying fund may invest a greater percentage of its assets in fewer issuers than a &#8220;diversified&#8221; fund, can increase the underlying fund&#8217;s vulnerability to adverse developments affecting a single issuer, which may result in greater losses and volatility.<br /> <br /> 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 or become illiquid. An underlying fund&#8217;s 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. An underlying fund&#8217;s use of short selling may result in losses if the securities appreciate in value.<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. 0.0992 0.0404 0.0823 0.1442 0.0268 0.0116 0.0310 0.0354 0.0061 -0.0191 -0.0437 0.0051 -0.0980 0.0692 0.0277 0.0563 0.0775 0.1795 0.0432 0.0177 0.0435 0.0591 0.2904 0.0411 0.0069 0.0153 0.0595 0.0317 -0.0057 -0.0051 -0.0191 -0.0165 -0.0023 Best calendar quarter<br /><b>Q1 2012</b>&#160;&#160;5.31%<br /><br />Worst calendar quarter<br /><b>Q3 2011</b>&#160;-4.83% Best calendar quarter<br /><b>Q1 2012</b>&#160;&#160;1.71%<br /><br />Worst calendar quarter<br /><b>Q3 2011</b> &#160;-2.22% Best calendar quarter<br /><b>Q1 2012</b>&#160;&#160;3.36%<br /><br />Worst calendar quarter<br /><b>Q3 2011</b> &#160;-4.09% Best calendar quarter<br /><b>Q1 2012</b>&#160;&#160;6.07%<br /><br />Worst calendar quarter<br /><b>Q3 2011</b> &#160;-5.81% Best calendar quarter<br /><b>Q1 2012&#160;&#160;13.67%<br /><br /></b>Worst calendar quarter<br /><b>Q3 2011 &#160;-20.98%</b> Best calendar quarter Best calendar quarter Best calendar quarter Best calendar quarter Best calendar quarter Worst calendar quarter Worst calendar quarter Worst calendar quarter Worst calendar quarter Worst calendar quarter 2012-03-31 2012-03-31 2012-03-31 2012-03-31 2012-03-31 0.0531 0.0171 0.0336 0.0607 0.1367 2011-09-30 2011-09-30 2011-09-30 2011-09-30 2011-09-30 -0.0483 -0.0222 -0.0409 -0.0581 -0.2098 <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact PFT_S000023452Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact PFT_S000024274Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact PFT_S000024275Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact PFT_S000024276Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/BarChartData column period compact * column dei_LegalEntityAxis compact PFT_S000028349Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 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 reflects conversion to class A shares after eight years.<br /> <br /> The Bloomberg Barclays U.S. Aggregate Bond Index and the S&#38;P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ. <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 reflects conversion to class A shares after eight years.<br /> <br /> The Bloomberg Barclays U.S. Aggregate Bond Index and the S&#38;P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ. <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 reflects conversion to class A shares after eight years.<br /> <br /> The Bloomberg Barclays U.S. Aggregate Bond Index and the S&#38;P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ. <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 reflects conversion to class A shares after eight years.<br /> <br /> The Bloomberg Barclays U.S. Aggregate Bond Index and the S&#38;P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ. <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'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. <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact PFT_S000023452Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact PFT_S000024274Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact PFT_S000024275Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact PFT_S000024276Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact PFT_S000028349Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. 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's tax situation and may differ from those shown. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. Actual after-tax returns depend on an investor'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. After-tax returns are shown for class A shares only and will vary for other classes. After-tax returns are shown for class A shares only and will vary for other classes. After-tax returns are shown for class A shares only and will vary for other classes. After-tax returns are shown for class A shares only and will vary for other classes. 0.0112 0.0227 0.0201 0.0271 0.0552 0.0062 0.0062 0.0062 0.0062 0.0062 0.0062 0.0062 0.0037 0.0037 0.0037 0.0037 0.0037 0.0037 0.0037 0.0045 0.0045 0.0045 0.0045 0.0045 0.0045 0.0045 0.0072 0.0072 0.0072 0.0072 0.0072 0.0072 0.0072 0.0062 0.0037 0.0045 0.0072 0.0062 0.0037 0.0045 0.0072 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0025 0.0100 0.0100 0.0075 0.0050 0.0025 0.0045 0.0100 0.0030 0.0050 0.0030 0.0050 0.0025 0.0045 0.0100 0.0025 0.0100 0.0100 0.0075 0.0050 0.0025 0.0025 0.0025 0.0025 0.0000 0.0025 0.0100 0.0100 0.0075 0.0050 0.0025 0.0021 0.0021 0.0021 0.0021 0.0021 0.0021 0.0013 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0023 0.0023 0.0023 0.0023 0.0023 0.0023 0.0013 0.0021 0.0001 0.0023 0.0009 0.0001 0.0009 0.0160 0.0160 0.0160 0.0160 0.0160 0.0160 0.0160 0.0110 0.0185 0.0185 0.0160 0.0135 0.0085 0.0077 0.0063 0.0083 0.0138 0.0068 0.0088 0.0038 0.0038 0.0075 0.0095 0.0045 0.0070 0.0090 0.0145 0.0045 0.0121 0.0196 0.0196 0.0171 0.0146 0.0096 0.0086 0.0110 0.0063 0.0070 0.0121 0.0073 0.0038 0.0045 0.0082 0.0285 0.0360 0.0360 0.0335 0.0310 0.0285 0.0260 0.0002 0.0002 0.0002 0.0002 0.0002 0.0002 0.0002 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0002 0.0001 0.0002 0.0001 0.0100 0.0100 0.0100 0.0100 0.0100 0.0100 0.0100 -0.0003 -0.0003 -0.0003 -0.0003 -0.0003 -0.0003 -0.0003 -0.0003 -0.0003 -0.0160 -0.0160 -0.0160 -0.0160 -0.0160 -0.0160 -0.0160 0.0107 0.0182 0.0182 0.0157 0.0132 0.0082 0.0074 0.0107 0.0070 0.0125 0.0200 0.0200 0.0175 0.0150 0.0125 0.0100 1836 1970 2167 2181 1621 1046 951 878 968 1657 915 1084 480 480 998 1166 567 962 1051 1735 567 1957 2091 2285 2299 1746 1178 1061 1554 786 1099 1679 904 480 567 1014 3459 3590 3758 3758 3299 3234 2815 1144 1198 998 1188 736 468 425 448 460 755 451 488 213 213 489 525 252 486 498 792 252 1202 1257 1057 1246 797 531 477 838 351 630 898 403 213 252 455 1859 1928 1728 1901 1486 1578 1237 902 879 579 834 425 268 243 300 265 437 291 281 122 122 313 303 144 322 287 459 144 937 915 615 870 462 306 274 588 202 468 624 230 122 144 262 1264 1255 955 1200 807 963 656 678 685 285 504 134 84 76 164 185 240 144 90 39 39 151 97 46 171 192 248 46 691 699 299 518 149 98 88 356 64 320 370 72 39 46 84 695 703 303 522 153 374 102 1970 2167 968 1657 1051 1735 2091 2285 3590 3758 998 998 460 755 498 792 1057 1057 1728 1728 579 579 265 437 287 459 615 615 955 955 185 185 85 140 92 148 199 199 203 203 0.0193 0.0201 0.0236 0.0190 0.0288 0.0340 0.0346 0.0119 0.0118 0.0063 0.0118 0.0114 0.0164 0.0165 0.0208 0.0204 0.0253 0.0209 0.0209 0.0151 0.0256 0.0285 0.0295 0.0329 0.0283 0.0384 0.0433 0.0443 0.0054 0.0062 0.0014 0.0114 0.1466 0.0223 0.0066 0.0096 0.0014 0.0314 0.1466 0.0223 0.0111 0.0129 0.0014 0.0514 0.1466 0.0223 0.0184 0.0190 0.0014 0.0714 0.1466 0.0223 0.0263 0.0139 0.0177 0.0355 0.0342 0.0164 0.0255 0.0435 0.0927 0.0947 0.0974 0.0922 0.1029 0.1002 0.1084 0.0735 0.0719 0.1041 -0.0469 -0.0462 -0.0072 -0.0286 0.0082 0.0140 0.0140 0.0124 0.0101 0.0048 0.0138 0.0194 0.0244 0.0244 0.0122 0.0175 0.0223 0.0099 0.0083 0.0020 0.0223 -0.0320 -0.0298 0.0093 -0.0129 0.0255 0.0298 0.0315 0.0018 0.0070 0.0037 0.0137 0.1196 0.0265 -0.0032 0.0056 0.0037 0.0337 0.1196 0.0265 -0.0469 -0.0265 0.0037 0.0537 0.1196 0.0265 -0.0320 -0.0181 0.0037 0.0737 0.1196 0.0265 -0.0140 0.0227 -0.0054 0.0014 0.0150 0.0244 0.0232 0.0307 -0.0055 -0.0024 0.0374 0.0124 0.0520 0.0288 0.0574 -0.0120 0.0023 0.0751 0.0282 0.0280 0.0280 0.0261 0.0331 0.0384 0.0388 0.0114 0.0100 0.0052 0.0110 0.0101 0.0151 0.0152 0.0208 0.0199 0.0249 0.0212 0.0198 0.0148 0.0251 0.0401 0.0398 0.0400 0.0376 0.0449 0.0502 0.0508 0.0059 0.0066 0.0017 0.0117 0.1508 0.0393 0.0100 0.0116 0.0017 0.0317 0.1508 0.0393 0.0200 0.0196 0.0017 0.0517 0.1508 0.0393 0.0299 0.0281 0.0017 0.0717 0.1508 0.0393 0.0325 0.0127 0.0193 0.0445 0.0385 0.0151 0.0250 0.0503 0.0661 0.0674 0.0674 0.0644 0.0728 0.0715 0.0781 0.0493 0.0507 0.0797 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2008-12-23 2010-03-31 2010-03-31 2010-03-31 2010-03-31 2010-03-31 2010-03-31 2010-03-31 2010-03-31 2010-03-31 2010-03-31 Restated to reflect current fees resulting from a change to the fund's investor servicing arrangements effective September 1, 2016. February 28, 2018 Each underlying fund is a non-diversified fund concentrating in the market sector specified in its name, and each invests mainly in common stocks (growth or value stocks or both) of large and midsize companies worldwide that we believe have favorable investment potential. Applies only to certain redemptions of shares bought with no initial sales charge. This charge is phased out over two years. This charge is eliminated after one year. Performance for class R6 shares prior to its inception (7/2/12) and class P shares prior to its inception (8/31/16) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 and class P shares; had it, returns would have been higher. This charge is phased out over six years. Reflects Putnam Investment Management, LLC's contractual obligation to limit certain fund expenses through 2/28/18. This obligation may be modified or discontinued only with approval of the Board of Trustees. Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 100 basis points. The fund's base management fee prior to any performance adjustment was 0.40%. Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 300 basis points. The fund's base management fee prior to any performance adjustment was 0.60%. Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 500 basis points. For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.723%. Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 700 basis points. For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.876%. Other expenses are based on expenses of class A shares for the fund's last fiscal year. Class T shares were not outstanding during the time periods shown. Performance shown for class T shares is derived from the historical performance of class A shares. Other expenses are based on expenses of class A shares (adjusted for the lower investor servicing fees applicable to class P shares) for the fund's last fiscal year. Restated to reflect current fees resulting from a change to the fund's investor servicing arrangements effective September 1, 2016. Reflects Putnam Investment Management, LLC's contractual obligation to limit certain fund expenses through February 28, 2018. This obligation may be modified or discontinued only with approval of the Board of Trustees. EX-101.SCH 3 pft-20170228.xsd XBRL SCHEMA FILE 00000004 - Document - Putnam Absolute Return 100 Fund Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink 00000005 - Document - Putnam Absolute Return 300 Fund Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink 00000006 - Document - Putnam Absolute Return 500 Fund Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink 00000007 - Document - Putnam Absolute Return 700 Fund Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink 00000008 - Document - Putnam Global Sector Fund Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink EX-101.DEF 4 pft-20170228_def.xml XBRL DEFINITION FILE EX-101.LAB 5 pft-20170228_lab.xml XBRL LABEL FILE Legal Entity [Axis] Putnam Absolute Return 500 Fund Share Class [Axis] Class A Class B Class C Class M Class R Class Y Class R6 Putnam Absolute Return 100 Fund Class A Class B Class C Class M Class R Class Y Class R6 Putnam Absolute Return 300 Fund Class M Class R Class Y Class A Class B Class C Class R6 Putnam Absolute Return 700 Fund Class A Class B Class C Class M Class R Class Y Class R6 Performance Measure [Axis] after taxes on distributions after taxes on distributions and sale of fund shares BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes) BofA Merrill Lynch U.S. Treasury Bill Index plus 100 basis points (no deductions for fees, expenses or taxes) S&P 500 Index (no deduction for fees, expenses or taxes) Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes) BofA Merrill Lynch U.S. Treasury Bill Index plus 300 basis points (no deductions for fees, expenses or taxes) BofA Merrill Lynch U.S. Treasury Bill Index plus 500 basis points (no deductions for fees, expenses or taxes) BofA Merrill Lynch U.S. Treasury Bill Index plus 700 basis points (no deduction for fees, expenses or taxes) Class T Class T Class T Class T Class P Class P Class P Class P Putnam Global Sector Fund CLASS A CLASS B CLASS C CLASS M CLASS R CLASS T CLASS Y MSCI World Index (ND) (no deduction for fees, expenses or taxes other than withholding taxes on reinvested dividends) Prospectus: [Table] Prospectus [Line Items] Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text Block] Expense Example by, Year, Caption [Text] Expense Example, With Redemption [Table] Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption [Table] Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Bar Chart Narrative [Text Block] Bar Chart [Heading] Bar Chart [Table] Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Performance Table Heading Performance Table Narrative Performance [Table] Market Index Performance [Table] Performance Table Footnotes Performance Table Closing [Text Block] Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum sales charge (load) imposed on purchases (as a percentage of offering price) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Class A Class B Class C Class M Class R Class T Class Y Operating Expenses Column [Text] Management fees Distribution and service (12b-1) fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other expenses Acquired fund fees and expenses Total annual fund operating expenses Expense reimbursement Total annual fund operating expenses after expense reimbursement Expense Example, By Year, Column [Text] Expense Example, with Redemption, 1 Year Expense Example, with Redemption, 3 Years Expense Example, with Redemption, 5 Years Expense Example, with Redemption, 10 Years Expense Example, No Redemption, By Year, Column [Text] Expense Example, No Redemption, 1 Year Expense Example, No Redemption, 3 Years Expense Example, No Redemption, 5 Years Expense Example, No Redemption, 10 Years Annual Return Caption [Text] Annual Return, Column [Text] Annual Return, Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Label 1 Year 5 Years 10 Years Since Inception Inception Date BofA Merrill Lynch U.S. Treasury Bill Index plus 100 basis points (no deduction for fees, expenses or taxes) BofA Merrill Lynch U.S. Treasury Bill Index plus 300 basis points (no deduction for fees, expenses or taxes) BofA Merrill Lynch U.S. Treasury Bill Index plus 500 basis points (no deduction for fees, expenses or taxes) Risk/Return Detail [Table] Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Caption Column Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield Series Class Class Class Class Class Class Class Series Class Class Class Class Class Class Class Series Class Class Class Class Class Class Class Series Class Class Class Class Class Class Class Performance Measure Performance Measure Performance Measure Performance Measure Performance Measure Performance Measure Performance Measure Class Class Class Class Class T Class T Class T Class T Putnam Global Sector Fund Class Class Class Class Class Class Class MSCI World Index (ND) (no deduction for fees, expenses or taxes other than withholding taxes on reinvested dividends) C000071705Member C000071706Member C000071707Member C000071708Member C000071709Member C000071710Member C000118004Member C000071711Member C000071712Member C000071713Member C000071714Member C000071715Member C000071716Member C000118006Member C000071717Member C000071718Member C000071719Member C000071720Member C000071721Member C000071722Member C000118008Member C000185689Member C000185690Member C000185691Member C000174701Member C000174702Member C000174703Member EX-101.PRE 6 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Putnam Absolute Return 100 Fund
Fund Summary
Goal
Putnam Absolute Return 100 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 100 basis points (or 1.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions.
Fees and expenses
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 $500,000 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder fees (fees paid directly from your investment)
Shareholder Fees - Putnam Absolute Return 100 Fund
Class A
Class B
Class C
Class M
Class P
Class R
Class R6
Class T
Class Y
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 1.00% none none 0.75% none none none none none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) 1.00% [1] 1.00% [2] 1.00% [3] none none none none none none
[1] Applies only to certain redemptions of shares bought with no initial sales charge.
[2] This charge is phased out over two years.
[3] This charge is eliminated after one year.
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Putnam Absolute Return 100 Fund
Class A
Class B
Class C
Class M
Class P
Class R
Class R6
Class T
Class Y
Management fees [1] 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37%
Distribution and service (12b-1) fees 0.25% 0.45% 1.00% 0.30%   0.50%   0.25%  
Other expenses 0.01% 0.01% 0.01% 0.01% 0.01% [2] 0.01% 0.01% 0.01% [2] 0.01%
Total annual fund operating expenses 0.63% 0.83% 1.38% 0.68% 0.38% 0.88% 0.38% 0.63% 0.38%
[1] Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 100 basis points. The fund's base management fee prior to any performance adjustment was 0.40%.
[2] Other expenses are based on expenses of class A shares for the fund's last fiscal year.
Example
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 $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower.
Expense Example - Putnam Absolute Return 100 Fund - USD ($)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Class A 164 300 448 878
Class B 185 265 460 968
Class C 240 437 755 1,657
Class M 144 291 451 915
Class P 39 122 213 480
Class R 90 281 488 1,084
Class R6 39 122 213 480
Class T 64 202 351 786
Class Y 39 122 213 480
Expense Example, No Redemption - Putnam Absolute Return 100 Fund - USD ($)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
Class B 85 265 460 968
Class C 140 437 755 1,657
Portfolio turnover
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 129%.
Investments
The fund is designed to pursue a consistent absolute return through a broadly diversified portfolio reflecting uncorrelated fixed-income strategies designed to exploit market inefficiencies across global markets and fixed-income sectors. These strategies include investments in the following asset categories: (a) sovereign debt: obligations of governments in developed and emerging markets; (b) corporate credit: investment-grade debt, below-investment-grade debt (sometimes referred to as “junk bonds”), bank loans, convertible bonds and structured credit; and (c) securitized assets: asset-backed securities, residential mortgage-backed securities (which may be backed by non-qualified or “sub-prime” mortgages), commercial mortgage-backed securities and collateralized mortgage obligations. In pursuing a consistent absolute return, the fund’s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, short-term debt securities.

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 typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. Accordingly, we may use derivatives to a significant extent to obtain or enhance exposure to the fixed-income sectors and strategies mentioned above, and to hedge against risk.

Putnam Absolute Return 100 Fund has a lower risk and return profile than Putnam Absolute Return 300 Fund as a result of decreased exposure to the fixed-income sectors and strategies mentioned above. Another distinction between the funds is that Putnam Absolute Return 100 Fund may maintain a higher cash position from time to time.
Risks
It is important to understand that you can lose money by investing in the fund.

Our allocation of assets among fixed-income strategies and sectors may hurt performance. The value of bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.

Bond investments are subject to interest rate risk, which means the value of the fund’s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.

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 or become illiquid. 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.

The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund’s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Investor profile
The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are seeking cash investments that earn a stable return and income over time, particularly if you are in or near retirement.

Performance
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Annual total returns for class A shares before sales charges
Bar Chart
Best calendar quarter
Q1 2012  1.71%

Worst calendar quarter
Q3 2011  -2.22%
Average annual total returns after sales charges (for periods ending 12/31/16)
Average Annual Total Returns - Putnam Absolute Return 100 Fund
1 Year
5 Years
Since Inception
Inception Date
Class A 1.24% 1.19% 1.14% Dec. 23, 2008
Class A | after taxes on distributions 0.18% 0.54% 0.59% Dec. 23, 2008
Class A | after taxes on distributions and sale of fund shares 0.70% 0.62% 0.66% Dec. 23, 2008
Class B 1.01% 1.18% 1.00% Dec. 23, 2008
Class C 0.48% 0.63% 0.52% Dec. 23, 2008
Class M 1.38% 1.18% 1.10% Dec. 23, 2008
Class P 2.44% [1] 1.64% [1] 1.51% [1] Dec. 23, 2008
Class R 1.94% 1.14% 1.01% Dec. 23, 2008
Class R6 2.44% [1] 1.65% [1] 1.52% [1] Dec. 23, 2008
Class T 2.27% [2] 1.39% [2] 1.27% [2] Dec. 23, 2008
Class Y 2.44% 1.64% 1.51% Dec. 23, 2008
BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes) 0.37% 0.14% 0.17% Dec. 23, 2008
BofA Merrill Lynch U.S. Treasury Bill Index plus 100 basis points (no deduction for fees, expenses or taxes) 1.37% 1.14% 1.17% Dec. 23, 2008
S&P 500 Index (no deduction for fees, expenses or taxes) 11.96% 14.66% 15.08% Dec. 23, 2008
Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes) 2.65% 2.23% 3.93% Dec. 23, 2008
[1] Performance for class R6 shares prior to its inception (7/2/12) and class P shares prior to its inception (8/31/16) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 and class P shares; had it, returns would have been higher.
[2] Class T shares were not outstanding during the time periods shown. Performance shown for class T shares is derived from the historical performance of class A shares.
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’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.

Class B share performance reflects conversion to class A shares after eight years.

The Bloomberg Barclays U.S. Aggregate Bond Index and the S&P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ.
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Putnam Absolute Return 300 Fund
Fund Summary
Goal
Putnam Absolute Return 300 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 300 basis points (or 3.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions.
Fees and expenses
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 $500,000 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder fees (fees paid directly from your investment)
Shareholder Fees - Putnam Absolute Return 300 Fund
Class A
Class B
Class C
Class M
Class P
Class R
Class R6
Class T
Class Y
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 1.00% none none 0.75% none none none 2.50% none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) 1.00% [1] 1.00% [2] 1.00% [3] none none none none none none
[1] Applies only to certain redemptions of shares bought with no initial sales charge.
[2] This charge is phased out over two years.
[3] This charge is eliminated after one year.
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Putnam Absolute Return 300 Fund
Class A
Class B
Class C
Class M
Class P
Class R
Class R6
Class T
Class Y
Management fees [1] 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45%
Distribution and service (12b-1) fees 0.25% 0.45% 1.00% 0.30%   0.50%   0.25%  
Total annual fund operating expenses 0.70% 0.90% 1.45% 0.75% 0.45% 0.95% 0.45% 0.70% 0.45%
[1] Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 300 basis points. The fund's base management fee prior to any performance adjustment was 0.60%.
Example
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 $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower.
Expense Example - Putnam Absolute Return 300 Fund - USD ($)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Class A 171 322 486 962
Class B 192 287 498 1,051
Class C 248 459 792 1,735
Class M 151 313 489 998
Class P 46 144 252 567
Class R 97 303 525 1,166
Class R6 46 144 252 567
Class T 320 468 630 1,099
Class Y 46 144 252 567
Expense Example, No Redemption - Putnam Absolute Return 300 Fund - USD ($)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
Class B 92 287 498 1,051
Class C 148 459 792 1,735
Portfolio turnover
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 428%.
Investments
The fund is designed to pursue a consistent absolute return through a broadly diversified portfolio reflecting uncorrelated fixed-income strategies designed to exploit market inefficiencies across global markets and fixed-income sectors. These strategies include investments in the following asset categories: (a) sovereign debt: obligations of governments in developed and emerging markets; (b) corporate credit: investment-grade debt, below-investment-grade debt (sometimes referred to as “junk bonds”), bank loans, convertible bonds and structured credit; and (c) securitized assets: asset-backed securities, residential mortgage-backed securities (which may be backed by non-qualified or “sub-prime” mortgages), commercial mortgage-backed securities and collateralized mortgage obligations. In pursuing a consistent absolute return, the fund’s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, bonds with moderate exposure to interest rate and credit risks.

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 typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. Accordingly, we may use derivatives to a significant extent to obtain or enhance exposure to the fixed-income sectors and strategies mentioned above, and to hedge against risk.

Putnam Absolute Return 300 Fund has a higher risk and return profile than Putnam Absolute Return 100 Fund as a result of increased exposure to the fixed-income sectors and strategies mentioned above. Another distinction between the funds is that Putnam Absolute Return 100 Fund may maintain a higher cash position from time to time.
Risks
It is important to understand that you can lose money by investing in the fund.

Our allocation of assets among fixed-income strategies and sectors may hurt performance. The value of bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.

Bond investments are subject to interest rate risk, which means the value of the fund’s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.

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 or become illiquid. 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.

The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund’s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Investor profile

The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a bond fund with moderate exposure to interest rate and credit risks.
Performance
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Annual total returns for class A shares before sales charges
Bar Chart
Best calendar quarter
Q1 2012  3.36%

Worst calendar quarter
Q3 2011  -4.09%
Average annual total returns after sales charges (for periods ending 12/31/16)
Average Annual Total Returns - Putnam Absolute Return 300 Fund
1 Year
5 Years
Since Inception
Inception Date
Class A 0.99% 2.09% 2.12% Dec. 23, 2008
Class A | after taxes on distributions (0.32%) 0.66% 1.00% Dec. 23, 2008
Class A | after taxes on distributions and sale of fund shares 0.56% 0.96% 1.16% Dec. 23, 2008
Class B 0.83% 2.09% 1.98% Dec. 23, 2008
Class C 0.20% 1.51% 1.48% Dec. 23, 2008
Class M 1.22% 2.08% 2.08% Dec. 23, 2008
Class P 2.32% [1] 2.55% [1] 2.50% [1] Dec. 23, 2008
Class R 1.75% 2.04% 1.99% Dec. 23, 2008
Class R6 2.23% [1] 2.56% [1] 2.51% [1] Dec. 23, 2008
Class T (0.54%) [2] 1.77% [2] 1.93% [2] Dec. 23, 2008
Class Y 2.23% 2.53% 2.49% Dec. 23, 2008
BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes) 0.37% 0.14% 0.17% Dec. 23, 2008
BofA Merrill Lynch U.S. Treasury Bill Index plus 300 basis points (no deduction for fees, expenses or taxes) 3.37% 3.14% 3.17% Dec. 23, 2008
S&P 500 Index (no deduction for fees, expenses or taxes) 11.96% 14.66% 15.08% Dec. 23, 2008
Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes) 2.65% 2.23% 3.93% Dec. 23, 2008
[1] Performance for class R6 shares prior to its inception (7/2/12) and class P shares prior to its inception (8/31/16) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 and class P shares; had it, returns would have been higher.
[2] Class T shares were not outstanding during the time periods shown. Performance shown for class T shares is derived from the historical performance of class A shares.
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’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.

Class B share performance reflects conversion to class A shares after eight years.

The Bloomberg Barclays U.S. Aggregate Bond Index and the S&P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ.
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Putnam Absolute Return 500 Fund
Fund Summary
Goal
Putnam Absolute Return 500 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 500 basis points (or 5.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions.
Fees and expenses
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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder fees (fees paid directly from your investment)
Shareholder Fees - Putnam Absolute Return 500 Fund
Class A
Class B
Class C
Class M
Class P
Class R
Class R6
Class T
Class Y
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 5.75% none none 3.50% none none none 2.50% none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) 1.00% [1] 5.00% [2] 1.00% [3] none none none none none none
[1] Applies only to certain redemptions of shares bought with no initial sales charge.
[2] This charge is phased out over six years.
[3] This charge is eliminated after one year.
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Putnam Absolute Return 500 Fund
Class A
Class B
Class C
Class M
Class P
Class R
Class R6
Class T
Class Y
Management fees [1] 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62% 0.62%
Distribution and service (12b-1) fees 0.25% 1.00% 1.00% 0.75%   0.50%   0.25%  
Other expenses 0.21% 0.21% 0.21% 0.21% 0.09% [2] 0.21% 0.13% 0.21% [2] 0.21%
Acquired fund fees and expenses 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Total annual fund operating expenses 1.10% 1.85% 1.85% 1.60% 0.73% 1.35% 0.77% 1.10% 0.85%
Expense reimbursement [3] (0.03%) (0.03%) (0.03%) (0.03%) (0.03%) (0.03%) (0.03%) (0.03%) [2] (0.03%)
Total annual fund operating expenses after expense reimbursement 1.07% 1.82% 1.82% 1.57% 0.70% 1.32% 0.74% 1.07% 0.82%
[1] Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 500 basis points. For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.723%.
[2] Other expenses are based on expenses of class A shares (adjusted for the lower investor servicing fees applicable to class P shares) for the fund's last fiscal year.
[3] Reflects Putnam Investment Management, LLC's contractual obligation to limit certain fund expenses through 2/28/18. This obligation may be modified or discontinued only with approval of the Board of Trustees.
Example
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 $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Only the first year of each period in the example takes into account the expense reimbursement described above. Your actual costs may be higher or lower.
Expense Example - Putnam Absolute Return 500 Fund - USD ($)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Class A 678 902 1,144 1,836
Class B 685 879 1,198 1,970
Class C 285 579 998 2,167
Class M 504 834 1,188 2,181
Class P 72 230 403 904
Class R 134 425 736 1,621
Class R6 76 243 425 951
Class T 356 588 838 1,554
Class Y 84 268 468 1,046
Expense Example, No Redemption - Putnam Absolute Return 500 Fund - USD ($)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
Class B 185 579 998 1,970
Class C 185 579 998 2,167
Portfolio turnover
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 522%.
Investments
The fund is designed to pursue a consistent absolute return by combining two independent investment strategies — a beta strategy, which provides broad exposure to investment markets, and an alpha strategy, which seeks returns from active trading. The beta strategy seeks to balance risk and to provide positive total return by investing, without limit, in many different asset classes, including U.S., international, and emerging markets equity securities (growth or value stocks or both) and fixed-income securities; mortgage- and asset-backed securities; below-investment-grade securities (sometimes referred to as “junk bonds”); inflation-protected securities; commodities; and real estate investment trusts (REITs). The alpha strategy involves the potential use of active trading strategies designed to provide additional total return through active security selection, tactical asset allocation, currency transactions and options transactions. In pursuing a consistent absolute return, the fund’s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, balanced portfolios with significant exposure to both stocks and bonds.

We may consider, among other factors, a company’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 when deciding whether to buy or sell fixed-income investments. We may also take into account general market conditions when making investment decisions. We typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, to a significant extent for hedging purposes and to increase the fund’s exposure to the asset classes and strategies mentioned above, which may create investment leverage.

Putnam Absolute Return 500 Fund has a lower risk and return profile than Putnam Absolute Return 700 Fund as a result of decreased exposure to the asset classes and strategies mentioned above.
Risks
It is important to understand that you can lose money by investing in the fund.

Our allocation of assets among asset classes may hurt performance. The value of stocks and bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound.

Bond investments are subject to interest rate risk, which means the value of the fund’s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.

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 or become illiquid. Our alpha strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Derivatives also involve the risk, in the case of many over-the-counter instruments, 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.

The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund’s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Investor profile

The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a balanced fund, or a fund that can manage allocations and risk across global asset classes.
Performance
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Annual total returns for class A shares before sales charges
Bar Chart
Best calendar quarter
Q1 2012  5.31%

Worst calendar quarter
Q3 2011 -4.83%
Average annual total returns after sales charges (for periods ending 12/31/16)
Average Annual Total Returns - Putnam Absolute Return 500 Fund
1 Year
5 Years
Since Inception
Inception Date
Class A (4.69%) 1.93% 2.82% Dec. 23, 2008
Class A | after taxes on distributions (4.69%) 1.11% 2.00% Dec. 23, 2008
Class A | after taxes on distributions and sale of fund shares (2.65%) 1.29% 1.96% Dec. 23, 2008
Class B (4.62%) 2.01% 2.80% Dec. 23, 2008
Class C (0.72%) 2.36% 2.80% Dec. 23, 2008
Class M (2.86%) 1.90% 2.61% Dec. 23, 2008
Class P 1.50% [1] 3.42% [1] 3.85% [1] Dec. 23, 2008
Class R 0.82% 2.88% 3.31% Dec. 23, 2008
Class R6 1.40% [1] 3.46% [1] 3.88% [1] Dec. 23, 2008
Class T (1.40%) [2] 2.63% [2] 3.25% [2] Dec. 23, 2008
Class Y 1.40% 3.40% 3.84% Dec. 23, 2008
BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes) 0.37% 0.14% 0.17% Dec. 23, 2008
BofA Merrill Lynch U.S. Treasury Bill Index plus 500 basis points (no deduction for fees, expenses or taxes) 5.37% 5.14% 5.17% Dec. 23, 2008
S&P 500 Index (no deduction for fees, expenses or taxes) 11.96% 14.66% 15.08% Dec. 23, 2008
Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes) 2.65% 2.23% 3.93% Dec. 23, 2008
[1] Performance for class R6 shares prior to its inception (7/2/12) and class P shares prior to its inception (8/31/16) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 and class P shares; had it, returns would have been higher.
[2] Class T shares were not outstanding during the time periods shown. Performance shown for class T shares is derived from the historical performance of class A shares.
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’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.

Class B share performance reflects conversion to class A shares after eight years.

The Bloomberg Barclays U.S. Aggregate Bond Index and the S&P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ.
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Putnam Global Sector Fund
Fund summary
Goal
Putnam Global Sector Fund seeks capital appreciation.
Fees and expenses
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 19 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder fees (fees paid directly from your investment)
Shareholder Fees - Putnam Global Sector Fund
Class A
Class B
Class C
Class M
Class R
Class T
Class Y
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 5.75% none none 3.50% none 2.50% none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) 1.00% [1] 5.00% [2] 1.00% [3] none none none none
[1] Applies only to certain redemptions of shares bought with no initial sales charge.
[2] This charge is phased out over six years.
[3] This charge is eliminated after one year.
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Putnam Global Sector Fund
Class A
Class B
Class C
Class M
Class R
Class T
Class Y
Management fees none none none none none none none
Distribution and service (12b-1) fees 0.25% 1.00% 1.00% 0.75% 0.50% 0.25%  
Other expenses 1.60% 1.60% 1.60% 1.60% 1.60% 1.60% [1] 1.60%
Acquired fund fees and expenses 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
Total annual fund operating expenses 2.85% 3.60% 3.60% 3.35% 3.10% 2.85% 2.60%
Expense reimbursement [2] (1.60%) (1.60%) (1.60%) (1.60%) (1.60%) (1.60%) (1.60%)
Total annual fund operating expenses after expense reimbursement 1.25% 2.00% 2.00% 1.75% 1.50% 1.25% 1.00%
[1] Other expenses are based on expenses of class A shares for the fund's last fiscal year.
[2] Reflects Putnam Investment Management, LLC's contractual obligation to limit certain fund expenses through February 28, 2018. This obligation may be modified or discontinued only with approval of the Board of Trustees.
Example
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 $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Only the first year of each period in the example takes into account the expense reimbursement described above. Your actual costs may be higher or lower.
Expense Example - Putnam Global Sector Fund - USD ($)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Class A 695 1,264 1,859 3,459
Class B 703 1,255 1,928 3,590
Class C 303 955 1,728 3,758
Class M 522 1,200 1,901 3,758
Class R 153 807 1,486 3,299
Class T 374 963 1,578 3,234
Class Y 102 656 1,237 2,815
Expense Example, No Redemption - Putnam Global Sector Fund - USD ($)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
Class B 203 955 1,728 3,590
Class C 203 955 1,728 3,758
Portfolio turnover
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 44%.
Investments
We allocate the fund’s assets among eight Putnam global sector funds to provide exposure to sectors of the global market in approximately the same proportions as the sector weightings in the MSCI World Index. Each underlying fund is a non-diversified fund concentrating in the market sector specified in its name, and each invests mainly in common stocks (growth or value stocks or both) of large and midsize companies worldwide that we believe have favorable investment potential.

Global Consumer Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the consumer staples and consumer discretionary products and services industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Financials Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the financial services industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Health Care Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the health care industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Industrials Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the industrial products, services or equipment industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Natural Resources Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the energy or other natural resources industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Technology Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the technology industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Telecommunications Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the telecommunication industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Utilities Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies worldwide in the utilities industries. This policy may be changed only after 60 days’ notice to shareholders.

Each underlying fund may invest in emerging markets, use derivatives, such as futures, options, foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes, and engage in short sales of securities.

We seek to rebalance the fund’s allocations monthly to remain in alignment with the index. The following table shows the fund’s approximate allocations to the underlying funds as of 12/31/16:
Underlying fund Approximate allocation as of 12/31/16
Putnam Global Consumer Fund 21.99%
Putnam Global Financials Fund 21.24%
Putnam Global Technology Fund 14.51%
Putnam Global Health Care Fund 12.08%
Putnam Global Natural Resources Fund 12.06%
Putnam Global Industrials Fund 11.15%
Putnam Global Telecommunications Fund 3.36%
Putnam Global Utilities Fund 3.19%

We may also invest in money market securities or affiliated money market or short-term fixed income funds for cash management.
Risks
It is important to understand that you can lose money by investing in the fund.

Our allocation of investments among the underlying funds may hurt performance. In addition, the fund’s performance is subject to the risks that may affect the performance of the underlying funds, which are as follows. The value of stocks in an underlying fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific company or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. An underlying fund’s policy of concentrating on a limited group of industries and an underlying fund’s “non-diversified” status, which means the underlying fund may invest a greater percentage of its assets in fewer issuers than a “diversified” fund, can increase the underlying fund’s vulnerability to adverse developments affecting a single issuer, which may result in greater losses and volatility.

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 or become illiquid. An underlying fund’s 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. An underlying fund’s use of short selling may result in losses if the securities appreciate in value.

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.
Performance
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Annual total returns for class A shares before sales charges
Bar Chart
Best calendar quarter
Q1 2012  13.67%

Worst calendar quarter
Q3 2011  -20.98%
Average annual total returns after sales charges (for periods ending 12/31/16)
Average Annual Total Returns - Putnam Global Sector Fund
1 Year
5 Years
Since Inception
Inception Date
Class A (0.55%) 9.27% 6.61% Mar. 31, 2010
Class A | after taxes on distributions (1.20%) 7.35% 4.93% Mar. 31, 2010
Class A | after taxes on distributions and sale of fund shares 0.23% 7.19% 5.07% Mar. 31, 2010
Class B (0.24%) 9.47% 6.74% Mar. 31, 2010
Class C 3.74% 9.74% 6.74% Mar. 31, 2010
Class M 1.24% 9.22% 6.44% Mar. 31, 2010
Class R 5.20% 10.29% 7.28% Mar. 31, 2010
Class T 2.88% [1] 10.02% [1] 7.15% [1] Mar. 31, 2010
Class Y 5.74% 10.84% 7.81% Mar. 31, 2010
MSCI World Index (ND) (no deduction for fees, expenses or taxes other than withholding taxes on reinvested dividends) 7.51% 10.41% 7.97% Mar. 31, 2010
[1] Class T shares were not outstanding during the time periods shown. Performance shown for class T shares is derived from the historical performance of class A shares.
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'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.

XML 18 R12.htm IDEA: XBRL DOCUMENT v3.6.0.2
Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2016
Registrant Name dei_EntityRegistrantName PUTNAM FUNDS TRUST
Central Index Key dei_EntityCentralIndexKey 0001005942
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol PFT
Document Creation Date dei_DocumentCreationDate Feb. 28, 2017
Document Effective Date dei_DocumentEffectiveDate Feb. 28, 2017
Prospectus Date rr_ProspectusDate Feb. 28, 2017
Putnam Absolute Return 100 Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary
Objective [Heading] rr_ObjectiveHeading Goal
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Putnam Absolute Return 100 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 100 basis points (or 1.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions.
Expense [Heading] rr_ExpenseHeading Fees and expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock 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 $500,000 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 129%.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 129.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $500,000 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 500,000
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock 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’s operating expenses remain the same. Your actual costs may be higher or lower.
Strategy [Heading] rr_StrategyHeading Investments
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The fund is designed to pursue a consistent absolute return through a broadly diversified portfolio reflecting uncorrelated fixed-income strategies designed to exploit market inefficiencies across global markets and fixed-income sectors. These strategies include investments in the following asset categories: (a) sovereign debt: obligations of governments in developed and emerging markets; (b) corporate credit: investment-grade debt, below-investment-grade debt (sometimes referred to as “junk bonds”), bank loans, convertible bonds and structured credit; and (c) securitized assets: asset-backed securities, residential mortgage-backed securities (which may be backed by non-qualified or “sub-prime” mortgages), commercial mortgage-backed securities and collateralized mortgage obligations. In pursuing a consistent absolute return, the fund’s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, short-term debt securities.

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 typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. Accordingly, we may use derivatives to a significant extent to obtain or enhance exposure to the fixed-income sectors and strategies mentioned above, and to hedge against risk.

Putnam Absolute Return 100 Fund has a lower risk and return profile than Putnam Absolute Return 300 Fund as a result of decreased exposure to the fixed-income sectors and strategies mentioned above. Another distinction between the funds is that Putnam Absolute Return 100 Fund may maintain a higher cash position from time to time.
Risk [Heading] rr_RiskHeading Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is important to understand that you can lose money by investing in the fund.

Our allocation of assets among fixed-income strategies and sectors may hurt performance. The value of bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.

Bond investments are subject to interest rate risk, which means the value of the fund’s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.

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 or become illiquid. 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.

The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund’s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Investor profile
The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are seeking cash investments that earn a stable return and income over time, particularly if you are in or near retirement.

Risk Lose Money [Text] rr_RiskLoseMoney It is important to understand that you can lose money by investing in the fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress putnam.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Please remember that past performance is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Annual total returns for class A shares before sales charges
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart does not reflect the impact of sales charges. If it did, performance would be lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best calendar quarter
Q1 2012  1.71%

Worst calendar quarter
Q3 2011  -2.22%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best calendar quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 1.71%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst calendar quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.22%)
Performance Table Heading rr_PerformanceTableHeading Average annual total returns after sales charges (for periods ending 12/31/16)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for class A shares only and will vary for other classes.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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’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.

Class B share performance reflects conversion to class A shares after eight years.

The Bloomberg Barclays U.S. Aggregate Bond Index and the S&P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ.
Putnam Absolute Return 100 Fund | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 1.00%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 164
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 300
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 448
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 878
Annual Return 2009 rr_AnnualReturn2009 4.04%
Annual Return 2010 rr_AnnualReturn2010 1.16%
Annual Return 2011 rr_AnnualReturn2011 (1.91%)
Annual Return 2012 rr_AnnualReturn2012 2.77%
Annual Return 2013 rr_AnnualReturn2013 1.77%
Annual Return 2014 rr_AnnualReturn2014 0.69%
Annual Return 2015 rr_AnnualReturn2015 (0.51%)
Annual Return 2016 rr_AnnualReturn2016 2.27%
1 Year rr_AverageAnnualReturnYear01 1.24%
5 Years rr_AverageAnnualReturnYear05 1.19%
Since Inception rr_AverageAnnualReturnSinceInception 1.14%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Class B  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [3]
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.45%
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.83%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 185
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 265
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 460
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 968
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 85
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 265
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 460
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 968
1 Year rr_AverageAnnualReturnYear01 1.01%
5 Years rr_AverageAnnualReturnYear05 1.18%
Since Inception rr_AverageAnnualReturnSinceInception 1.00%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Class C  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.38%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 240
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 437
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 755
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,657
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 140
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 437
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 755
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,657
1 Year rr_AverageAnnualReturnYear01 0.48%
5 Years rr_AverageAnnualReturnYear05 0.63%
Since Inception rr_AverageAnnualReturnSinceInception 0.52%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Class M  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 0.75%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.30%
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.68%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 144
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 291
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 451
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 915
1 Year rr_AverageAnnualReturnYear01 1.38%
5 Years rr_AverageAnnualReturnYear05 1.18%
Since Inception rr_AverageAnnualReturnSinceInception 1.10%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Class P  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Other expenses rr_OtherExpensesOverAssets 0.01% [5]
Total annual fund operating expenses rr_ExpensesOverAssets 0.38%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 39
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 122
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 213
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 480
1 Year rr_AverageAnnualReturnYear01 2.44% [6]
5 Years rr_AverageAnnualReturnYear05 1.64% [6]
Since Inception rr_AverageAnnualReturnSinceInception 1.51% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Class R  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.88%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 90
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 281
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 488
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,084
1 Year rr_AverageAnnualReturnYear01 1.94%
5 Years rr_AverageAnnualReturnYear05 1.14%
Since Inception rr_AverageAnnualReturnSinceInception 1.01%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Class R6  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.38%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 39
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 122
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 213
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 480
1 Year rr_AverageAnnualReturnYear01 2.44% [6]
5 Years rr_AverageAnnualReturnYear05 1.65% [6]
Since Inception rr_AverageAnnualReturnSinceInception 1.52% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Class T  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.01% [5]
Total annual fund operating expenses rr_ExpensesOverAssets 0.63%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 64
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 202
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 351
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 786
1 Year rr_AverageAnnualReturnYear01 2.27% [7]
5 Years rr_AverageAnnualReturnYear05 1.39% [7]
Since Inception rr_AverageAnnualReturnSinceInception 1.27% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Class Y  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.37% [2]
Other expenses rr_OtherExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.38%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 39
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 122
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 213
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 480
1 Year rr_AverageAnnualReturnYear01 2.44%
5 Years rr_AverageAnnualReturnYear05 1.64%
Since Inception rr_AverageAnnualReturnSinceInception 1.51%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | after taxes on distributions | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.18%
5 Years rr_AverageAnnualReturnYear05 0.54%
Since Inception rr_AverageAnnualReturnSinceInception 0.59%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | after taxes on distributions and sale of fund shares | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.70%
5 Years rr_AverageAnnualReturnYear05 0.62%
Since Inception rr_AverageAnnualReturnSinceInception 0.66%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.37%
5 Years rr_AverageAnnualReturnYear05 0.14%
Since Inception rr_AverageAnnualReturnSinceInception 0.17%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | BofA Merrill Lynch U.S. Treasury Bill Index plus 100 basis points (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.37%
5 Years rr_AverageAnnualReturnYear05 1.14%
Since Inception rr_AverageAnnualReturnSinceInception 1.17%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | S&P 500 Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 11.96%
5 Years rr_AverageAnnualReturnYear05 14.66%
Since Inception rr_AverageAnnualReturnSinceInception 15.08%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 100 Fund | Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65%
5 Years rr_AverageAnnualReturnYear05 2.23%
Since Inception rr_AverageAnnualReturnSinceInception 3.93%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary
Objective [Heading] rr_ObjectiveHeading Goal
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Putnam Absolute Return 300 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 300 basis points (or 3.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions.
Expense [Heading] rr_ExpenseHeading Fees and expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock 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 $500,000 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 428%.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 428.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $500,000 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 500,000
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock 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’s operating expenses remain the same. Your actual costs may be higher or lower.
Strategy [Heading] rr_StrategyHeading Investments
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The fund is designed to pursue a consistent absolute return through a broadly diversified portfolio reflecting uncorrelated fixed-income strategies designed to exploit market inefficiencies across global markets and fixed-income sectors. These strategies include investments in the following asset categories: (a) sovereign debt: obligations of governments in developed and emerging markets; (b) corporate credit: investment-grade debt, below-investment-grade debt (sometimes referred to as “junk bonds”), bank loans, convertible bonds and structured credit; and (c) securitized assets: asset-backed securities, residential mortgage-backed securities (which may be backed by non-qualified or “sub-prime” mortgages), commercial mortgage-backed securities and collateralized mortgage obligations. In pursuing a consistent absolute return, the fund’s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, bonds with moderate exposure to interest rate and credit risks.

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 typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes. Accordingly, we may use derivatives to a significant extent to obtain or enhance exposure to the fixed-income sectors and strategies mentioned above, and to hedge against risk.

Putnam Absolute Return 300 Fund has a higher risk and return profile than Putnam Absolute Return 100 Fund as a result of increased exposure to the fixed-income sectors and strategies mentioned above. Another distinction between the funds is that Putnam Absolute Return 100 Fund may maintain a higher cash position from time to time.
Risk [Heading] rr_RiskHeading Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is important to understand that you can lose money by investing in the fund.

Our allocation of assets among fixed-income strategies and sectors may hurt performance. The value of bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.

Bond investments are subject to interest rate risk, which means the value of the fund’s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.

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 or become illiquid. 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.

The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund’s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Investor profile

The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a bond fund with moderate exposure to interest rate and credit risks.
Risk Lose Money [Text] rr_RiskLoseMoney It is important to understand that you can lose money by investing in the fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress putnam.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Please remember that past performance is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Annual total returns for class A shares before sales charges
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart does not reflect the impact of sales charges. If it did, performance would be lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best calendar quarter
Q1 2012  3.36%

Worst calendar quarter
Q3 2011  -4.09%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best calendar quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 3.36%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst calendar quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (4.09%)
Performance Table Heading rr_PerformanceTableHeading Average annual total returns after sales charges (for periods ending 12/31/16)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for class A shares only and will vary for other classes.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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’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.

Class B share performance reflects conversion to class A shares after eight years.

The Bloomberg Barclays U.S. Aggregate Bond Index and the S&P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ.
Putnam Absolute Return 300 Fund | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 1.00%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Total annual fund operating expenses rr_ExpensesOverAssets 0.70%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 171
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 322
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 486
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 962
Annual Return 2009 rr_AnnualReturn2009 8.23%
Annual Return 2010 rr_AnnualReturn2010 3.10%
Annual Return 2011 rr_AnnualReturn2011 (4.37%)
Annual Return 2012 rr_AnnualReturn2012 5.63%
Annual Return 2013 rr_AnnualReturn2013 4.35%
Annual Return 2014 rr_AnnualReturn2014 1.53%
Annual Return 2015 rr_AnnualReturn2015 (1.91%)
Annual Return 2016 rr_AnnualReturn2016 2.01%
1 Year rr_AverageAnnualReturnYear01 0.99%
5 Years rr_AverageAnnualReturnYear05 2.09%
Since Inception rr_AverageAnnualReturnSinceInception 2.12%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Class B  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [3]
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.45%
Total annual fund operating expenses rr_ExpensesOverAssets 0.90%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 192
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 287
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 498
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,051
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 92
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 287
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 498
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,051
1 Year rr_AverageAnnualReturnYear01 0.83%
5 Years rr_AverageAnnualReturnYear05 2.09%
Since Inception rr_AverageAnnualReturnSinceInception 1.98%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Class C  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Total annual fund operating expenses rr_ExpensesOverAssets 1.45%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 248
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 459
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 792
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,735
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 148
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 459
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 792
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,735
1 Year rr_AverageAnnualReturnYear01 0.20%
5 Years rr_AverageAnnualReturnYear05 1.51%
Since Inception rr_AverageAnnualReturnSinceInception 1.48%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Class M  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 0.75%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.30%
Total annual fund operating expenses rr_ExpensesOverAssets 0.75%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 151
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 313
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 489
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 998
1 Year rr_AverageAnnualReturnYear01 1.22%
5 Years rr_AverageAnnualReturnYear05 2.08%
Since Inception rr_AverageAnnualReturnSinceInception 2.08%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Class P  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Total annual fund operating expenses rr_ExpensesOverAssets 0.45%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 46
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 144
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 252
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 567
1 Year rr_AverageAnnualReturnYear01 2.32% [6]
5 Years rr_AverageAnnualReturnYear05 2.55% [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.50% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Class R  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Total annual fund operating expenses rr_ExpensesOverAssets 0.95%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 97
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 303
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 525
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,166
1 Year rr_AverageAnnualReturnYear01 1.75%
5 Years rr_AverageAnnualReturnYear05 2.04%
Since Inception rr_AverageAnnualReturnSinceInception 1.99%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Class R6  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Total annual fund operating expenses rr_ExpensesOverAssets 0.45%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 46
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 144
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 252
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 567
1 Year rr_AverageAnnualReturnYear01 2.23% [6]
5 Years rr_AverageAnnualReturnYear05 2.56% [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.51% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Class T  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Total annual fund operating expenses rr_ExpensesOverAssets 0.70%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 320
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 468
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 630
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,099
1 Year rr_AverageAnnualReturnYear01 (0.54%) [7]
5 Years rr_AverageAnnualReturnYear05 1.77% [7]
Since Inception rr_AverageAnnualReturnSinceInception 1.93% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Class Y  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.45% [8]
Total annual fund operating expenses rr_ExpensesOverAssets 0.45%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 46
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 144
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 252
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 567
1 Year rr_AverageAnnualReturnYear01 2.23%
5 Years rr_AverageAnnualReturnYear05 2.53%
Since Inception rr_AverageAnnualReturnSinceInception 2.49%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | after taxes on distributions | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.32%)
5 Years rr_AverageAnnualReturnYear05 0.66%
Since Inception rr_AverageAnnualReturnSinceInception 1.00%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | after taxes on distributions and sale of fund shares | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.56%
5 Years rr_AverageAnnualReturnYear05 0.96%
Since Inception rr_AverageAnnualReturnSinceInception 1.16%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.37%
5 Years rr_AverageAnnualReturnYear05 0.14%
Since Inception rr_AverageAnnualReturnSinceInception 0.17%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | BofA Merrill Lynch U.S. Treasury Bill Index plus 300 basis points (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.37%
5 Years rr_AverageAnnualReturnYear05 3.14%
Since Inception rr_AverageAnnualReturnSinceInception 3.17%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | S&P 500 Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 11.96%
5 Years rr_AverageAnnualReturnYear05 14.66%
Since Inception rr_AverageAnnualReturnSinceInception 15.08%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 300 Fund | Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65%
5 Years rr_AverageAnnualReturnYear05 2.23%
Since Inception rr_AverageAnnualReturnSinceInception 3.93%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary
Objective [Heading] rr_ObjectiveHeading Goal
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Putnam Absolute Return 500 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 500 basis points (or 5.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions.
Expense [Heading] rr_ExpenseHeading Fees and expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 522%.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 522.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock 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’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.
Strategy [Heading] rr_StrategyHeading Investments
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The fund is designed to pursue a consistent absolute return by combining two independent investment strategies — a beta strategy, which provides broad exposure to investment markets, and an alpha strategy, which seeks returns from active trading. The beta strategy seeks to balance risk and to provide positive total return by investing, without limit, in many different asset classes, including U.S., international, and emerging markets equity securities (growth or value stocks or both) and fixed-income securities; mortgage- and asset-backed securities; below-investment-grade securities (sometimes referred to as “junk bonds”); inflation-protected securities; commodities; and real estate investment trusts (REITs). The alpha strategy involves the potential use of active trading strategies designed to provide additional total return through active security selection, tactical asset allocation, currency transactions and options transactions. In pursuing a consistent absolute return, the fund’s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, balanced portfolios with significant exposure to both stocks and bonds.

We may consider, among other factors, a company’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 when deciding whether to buy or sell fixed-income investments. We may also take into account general market conditions when making investment decisions. We typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, to a significant extent for hedging purposes and to increase the fund’s exposure to the asset classes and strategies mentioned above, which may create investment leverage.

Putnam Absolute Return 500 Fund has a lower risk and return profile than Putnam Absolute Return 700 Fund as a result of decreased exposure to the asset classes and strategies mentioned above.
Risk [Heading] rr_RiskHeading Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is important to understand that you can lose money by investing in the fund.

Our allocation of assets among asset classes may hurt performance. The value of stocks and bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound.

Bond investments are subject to interest rate risk, which means the value of the fund’s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.

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 or become illiquid. Our alpha strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Derivatives also involve the risk, in the case of many over-the-counter instruments, 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.

The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund’s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Investor profile

The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a balanced fund, or a fund that can manage allocations and risk across global asset classes.
Risk Lose Money [Text] rr_RiskLoseMoney It is important to understand that you can lose money by investing in the fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress putnam.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Please remember that past performance is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Annual total returns for class A shares before sales charges
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart does not reflect the impact of sales charges. If it did, performance would be lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best calendar quarter
Q1 2012  5.31%

Worst calendar quarter
Q3 2011 -4.83%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best calendar quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.31%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst calendar quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (4.83%)
Performance Table Heading rr_PerformanceTableHeading Average annual total returns after sales charges (for periods ending 12/31/16)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for class A shares only and will vary for other classes.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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’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.

Class B share performance reflects conversion to class A shares after eight years.

The Bloomberg Barclays U.S. Aggregate Bond Index and the S&P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ.
Putnam Absolute Return 500 Fund | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.21%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 1.10%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.07%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 678
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 902
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,144
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,836
Annual Return 2009 rr_AnnualReturn2009 9.92%
Annual Return 2010 rr_AnnualReturn2010 2.68%
Annual Return 2011 rr_AnnualReturn2011 0.61%
Annual Return 2012 rr_AnnualReturn2012 6.92%
Annual Return 2013 rr_AnnualReturn2013 4.32%
Annual Return 2014 rr_AnnualReturn2014 4.11%
Annual Return 2015 rr_AnnualReturn2015 (0.57%)
Annual Return 2016 rr_AnnualReturn2016 1.12%
1 Year rr_AverageAnnualReturnYear01 (4.69%)
5 Years rr_AverageAnnualReturnYear05 1.93%
Since Inception rr_AverageAnnualReturnSinceInception 2.82%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Class B  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 5.00% [11]
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.21%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 1.85%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.82%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 685
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 879
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,198
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,970
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 185
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 579
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 998
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,970
1 Year rr_AverageAnnualReturnYear01 (4.62%)
5 Years rr_AverageAnnualReturnYear05 2.01%
Since Inception rr_AverageAnnualReturnSinceInception 2.80%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Class C  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.21%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 1.85%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.82%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 285
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 579
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 998
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,167
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 185
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 579
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 998
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,167
1 Year rr_AverageAnnualReturnYear01 (0.72%)
5 Years rr_AverageAnnualReturnYear05 2.36%
Since Inception rr_AverageAnnualReturnSinceInception 2.80%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Class M  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.50%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Other expenses rr_OtherExpensesOverAssets 0.21%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 1.60%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.57%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 504
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 834
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,188
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,181
1 Year rr_AverageAnnualReturnYear01 (2.86%)
5 Years rr_AverageAnnualReturnYear05 1.90%
Since Inception rr_AverageAnnualReturnSinceInception 2.61%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Class P  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Other expenses rr_OtherExpensesOverAssets 0.09% [12]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 0.73%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 0.70%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 72
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 230
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 403
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 904
1 Year rr_AverageAnnualReturnYear01 1.50% [6]
5 Years rr_AverageAnnualReturnYear05 3.42% [6]
Since Inception rr_AverageAnnualReturnSinceInception 3.85% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Class R  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other expenses rr_OtherExpensesOverAssets 0.21%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 1.35%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.32%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 134
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 425
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 736
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,621
1 Year rr_AverageAnnualReturnYear01 0.82%
5 Years rr_AverageAnnualReturnYear05 2.88%
Since Inception rr_AverageAnnualReturnSinceInception 3.31%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Class R6  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Other expenses rr_OtherExpensesOverAssets 0.13%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 0.77%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 0.74%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 76
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 243
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 425
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 951
1 Year rr_AverageAnnualReturnYear01 1.40% [6]
5 Years rr_AverageAnnualReturnYear05 3.46% [6]
Since Inception rr_AverageAnnualReturnSinceInception 3.88% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Class T  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.21% [12]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 1.10%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10],[12]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.07%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 356
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 588
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 838
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,554
1 Year rr_AverageAnnualReturnYear01 (1.40%) [7]
5 Years rr_AverageAnnualReturnYear05 2.63% [7]
Since Inception rr_AverageAnnualReturnSinceInception 3.25% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Class Y  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.62% [9]
Other expenses rr_OtherExpensesOverAssets 0.21%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total annual fund operating expenses rr_ExpensesOverAssets 0.85%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.03%) [10]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 0.82%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 84
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 268
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 468
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,046
1 Year rr_AverageAnnualReturnYear01 1.40%
5 Years rr_AverageAnnualReturnYear05 3.40%
Since Inception rr_AverageAnnualReturnSinceInception 3.84%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | after taxes on distributions | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (4.69%)
5 Years rr_AverageAnnualReturnYear05 1.11%
Since Inception rr_AverageAnnualReturnSinceInception 2.00%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | after taxes on distributions and sale of fund shares | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (2.65%)
5 Years rr_AverageAnnualReturnYear05 1.29%
Since Inception rr_AverageAnnualReturnSinceInception 1.96%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.37%
5 Years rr_AverageAnnualReturnYear05 0.14%
Since Inception rr_AverageAnnualReturnSinceInception 0.17%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | BofA Merrill Lynch U.S. Treasury Bill Index plus 500 basis points (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.37%
5 Years rr_AverageAnnualReturnYear05 5.14%
Since Inception rr_AverageAnnualReturnSinceInception 5.17%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | S&P 500 Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 11.96%
5 Years rr_AverageAnnualReturnYear05 14.66%
Since Inception rr_AverageAnnualReturnSinceInception 15.08%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 500 Fund | Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65%
5 Years rr_AverageAnnualReturnYear05 2.23%
Since Inception rr_AverageAnnualReturnSinceInception 3.93%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary
Objective [Heading] rr_ObjectiveHeading Goal
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Putnam Absolute Return 700 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 700 basis points (or 7.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions.
Expense [Heading] rr_ExpenseHeading Fees and expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 578%.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 578.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts 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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Restated to reflect current fees resulting from a change to the fund's investor servicing arrangements effective September 1, 2016.
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock 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’s operating expenses remain the same. Your actual costs may be higher or lower.
Strategy [Heading] rr_StrategyHeading Investments
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The fund is designed to pursue a consistent absolute return by combining two independent investment strategies — a beta strategy, which provides broad exposure to investment markets, and an alpha strategy, which seeks returns from active trading. The beta strategy seeks to balance risk and to provide positive total return by investing, without limit, in many different asset classes, including U.S., international, and emerging markets equity securities (growth or value stocks or both) and fixed-income securities; mortgage- and asset-backed securities; below-investment-grade securities (sometimes referred to as “junk bonds”); inflation-protected securities; commodities; and real estate investment trusts (REITs). The alpha strategy involves the potential use of active trading strategies designed to provide additional total return through active security selection, tactical asset allocation, currency transactions and options transactions. In pursuing a consistent absolute return, the fund’s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, equities or equity-like investments.

We may consider, among other factors, a company’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 when deciding whether to buy or sell fixed-income investments. We may also take into account general market conditions when making investment decisions. We typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, to a significant extent for hedging purposes and to increase the fund’s exposure to the asset classes and strategies mentioned above, which may create investment leverage.

Putnam Absolute Return 700 Fund has a higher risk and return profile than Putnam Absolute Return 500 Fund as a result of increased exposure to the asset classes and strategies mentioned above.
Risk [Heading] rr_RiskHeading Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is important to understand that you can lose money by investing in the fund.

Our allocation of assets among asset classes may hurt performance. The value of stocks and bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound.

Bond investments are subject to interest rate risk, which means the value of the fund’s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.

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 or become illiquid. Our alpha strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Derivatives also involve the risk, in the case of many over-the-counter instruments, 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.

The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund’s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Investor profile

The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a stock fund, or a fund that can manage allocations and risk across global asset classes.
Risk Lose Money [Text] rr_RiskLoseMoney It is important to understand that you can lose money by investing in the fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress putnam.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Please remember that past performance is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Annual total returns for class A shares before sales charges
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart does not reflect the impact of sales charges. If it did, performance would be lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best calendar quarter
Q1 2012  6.07%

Worst calendar quarter
Q3 2011  -5.81%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best calendar quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 6.07%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst calendar quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (5.81%)
Performance Table Heading rr_PerformanceTableHeading Average annual total returns after sales charges (for periods ending 12/31/16)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for class A shares only and will vary for other classes.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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’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.

Class B share performance reflects conversion to class A shares after eight years.

The Bloomberg Barclays U.S. Aggregate Bond Index and the S&P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ.
Putnam Absolute Return 700 Fund | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.23% [14]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.21%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 691
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 937
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,202
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,957
Annual Return 2009 rr_AnnualReturn2009 14.42%
Annual Return 2010 rr_AnnualReturn2010 3.54%
Annual Return 2011 rr_AnnualReturn2011 0.51%
Annual Return 2012 rr_AnnualReturn2012 7.75%
Annual Return 2013 rr_AnnualReturn2013 5.91%
Annual Return 2014 rr_AnnualReturn2014 5.95%
Annual Return 2015 rr_AnnualReturn2015 (1.65%)
Annual Return 2016 rr_AnnualReturn2016 2.71%
1 Year rr_AverageAnnualReturnYear01 (3.20%)
5 Years rr_AverageAnnualReturnYear05 2.85%
Since Inception rr_AverageAnnualReturnSinceInception 4.01%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Class B  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 5.00% [11]
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.23% [14]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.96%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 699
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 915
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,257
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,091
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 199
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 615
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,057
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,091
1 Year rr_AverageAnnualReturnYear01 (2.98%)
5 Years rr_AverageAnnualReturnYear05 2.95%
Since Inception rr_AverageAnnualReturnSinceInception 3.98%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Class C  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.23% [14]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.96%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 299
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 615
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,057
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,285
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 199
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 615
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,057
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,285
1 Year rr_AverageAnnualReturnYear01 0.93%
5 Years rr_AverageAnnualReturnYear05 3.29%
Since Inception rr_AverageAnnualReturnSinceInception 4.00%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Class M  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.50%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Other expenses rr_OtherExpensesOverAssets 0.23% [14]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.71%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 518
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 870
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,246
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,299
1 Year rr_AverageAnnualReturnYear01 (1.29%)
5 Years rr_AverageAnnualReturnYear05 2.83%
Since Inception rr_AverageAnnualReturnSinceInception 3.76%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Class P  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.09% [12]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.82%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 84
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 262
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 455
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,014
1 Year rr_AverageAnnualReturnYear01 3.07% [6]
5 Years rr_AverageAnnualReturnYear05 4.35% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.03% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Class R  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other expenses rr_OtherExpensesOverAssets 0.23% [14]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.46%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 149
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 462
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 797
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,746
1 Year rr_AverageAnnualReturnYear01 2.55%
5 Years rr_AverageAnnualReturnYear05 3.84%
Since Inception rr_AverageAnnualReturnSinceInception 4.49%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Class R6  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Other expenses rr_OtherExpensesOverAssets 0.13%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.86%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 88
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 274
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 477
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,061
1 Year rr_AverageAnnualReturnYear01 3.15% [6]
5 Years rr_AverageAnnualReturnYear05 4.43% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.08% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Class T  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.23% [12]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 1.21%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 370
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 624
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 898
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,679
1 Year rr_AverageAnnualReturnYear01 0.14% [7]
5 Years rr_AverageAnnualReturnYear05 3.55% [7]
Since Inception rr_AverageAnnualReturnSinceInception 4.45% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Class Y  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets 0.72% [13]
Other expenses rr_OtherExpensesOverAssets 0.23% [14]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total annual fund operating expenses rr_ExpensesOverAssets 0.96%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 98
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 306
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 531
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,178
1 Year rr_AverageAnnualReturnYear01 2.98%
5 Years rr_AverageAnnualReturnYear05 4.33%
Since Inception rr_AverageAnnualReturnSinceInception 5.02%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | after taxes on distributions | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (3.20%)
5 Years rr_AverageAnnualReturnYear05 1.84%
Since Inception rr_AverageAnnualReturnSinceInception 2.99%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | after taxes on distributions and sale of fund shares | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.81%)
5 Years rr_AverageAnnualReturnYear05 1.90%
Since Inception rr_AverageAnnualReturnSinceInception 2.81%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.37%
5 Years rr_AverageAnnualReturnYear05 0.14%
Since Inception rr_AverageAnnualReturnSinceInception 0.17%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | BofA Merrill Lynch U.S. Treasury Bill Index plus 700 basis points (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.37%
5 Years rr_AverageAnnualReturnYear05 7.14%
Since Inception rr_AverageAnnualReturnSinceInception 7.17%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | S&P 500 Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 11.96%
5 Years rr_AverageAnnualReturnYear05 14.66%
Since Inception rr_AverageAnnualReturnSinceInception 15.08%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Absolute Return 700 Fund | Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65%
5 Years rr_AverageAnnualReturnYear05 2.23%
Since Inception rr_AverageAnnualReturnSinceInception 3.93%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 23, 2008
Putnam Global Sector Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund summary
Objective [Heading] rr_ObjectiveHeading Goal
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Putnam Global Sector Fund seeks capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock 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 19 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination February 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 44%.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 44.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts 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 19 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock 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’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.
Strategy [Heading] rr_StrategyHeading Investments
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock We allocate the fund’s assets among eight Putnam global sector funds to provide exposure to sectors of the global market in approximately the same proportions as the sector weightings in the MSCI World Index. Each underlying fund is a non-diversified fund concentrating in the market sector specified in its name, and each invests mainly in common stocks (growth or value stocks or both) of large and midsize companies worldwide that we believe have favorable investment potential.

Global Consumer Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the consumer staples and consumer discretionary products and services industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Financials Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the financial services industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Health Care Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the health care industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Industrials Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the industrial products, services or equipment industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Natural Resources Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the energy or other natural resources industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Technology Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the technology industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Telecommunications Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies in the telecommunication industries. This policy may be changed only after 60 days’ notice to shareholders.

Global Utilities Fund — Under normal circumstances, we invest at least 80% of this underlying fund’s net assets in securities of companies worldwide in the utilities industries. This policy may be changed only after 60 days’ notice to shareholders.

Each underlying fund may invest in emerging markets, use derivatives, such as futures, options, foreign currency transactions, warrants and swap contracts, for both hedging and non-hedging purposes, and engage in short sales of securities.

We seek to rebalance the fund’s allocations monthly to remain in alignment with the index. The following table shows the fund’s approximate allocations to the underlying funds as of 12/31/16:
Underlying fund Approximate allocation as of 12/31/16
Putnam Global Consumer Fund 21.99%
Putnam Global Financials Fund 21.24%
Putnam Global Technology Fund 14.51%
Putnam Global Health Care Fund 12.08%
Putnam Global Natural Resources Fund 12.06%
Putnam Global Industrials Fund 11.15%
Putnam Global Telecommunications Fund 3.36%
Putnam Global Utilities Fund 3.19%

We may also invest in money market securities or affiliated money market or short-term fixed income funds for cash management.
Risk [Heading] rr_RiskHeading Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock It is important to understand that you can lose money by investing in the fund.

Our allocation of investments among the underlying funds may hurt performance. In addition, the fund’s performance is subject to the risks that may affect the performance of the underlying funds, which are as follows. The value of stocks in an underlying fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions, changes in government intervention in the financial markets, and factors related to a specific company or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. An underlying fund’s policy of concentrating on a limited group of industries and an underlying fund’s “non-diversified” status, which means the underlying fund may invest a greater percentage of its assets in fewer issuers than a “diversified” fund, can increase the underlying fund’s vulnerability to adverse developments affecting a single issuer, which may result in greater losses and volatility.

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 or become illiquid. An underlying fund’s 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. An underlying fund’s use of short selling may result in losses if the securities appreciate in value.

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.
Risk Lose Money [Text] rr_RiskLoseMoney It is important to understand that you can lose money by investing in the fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Each underlying fund is a non-diversified fund concentrating in the market sector specified in its name, and each invests mainly in common stocks (growth or value stocks or both) of large and midsize companies worldwide that we believe have favorable investment potential.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s performance year to year and over time.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress putnam.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Please remember that past performance is not necessarily an indication of future results.
Bar Chart [Heading] rr_BarChartHeading Annual total returns for class A shares before sales charges
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart does not reflect the impact of sales charges. If it did, performance would be lower.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best calendar quarter
Q1 2012  13.67%

Worst calendar quarter
Q3 2011  -20.98%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best calendar quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.67%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst calendar quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (20.98%)
Performance Table Heading rr_PerformanceTableHeading Average annual total returns after sales charges (for periods ending 12/31/16)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for class A shares only and will vary for other classes.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock 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'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.
Putnam Global Sector Fund | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management fees rr_ManagementFeesOverAssets none
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 1.60%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 1.00%
Total annual fund operating expenses rr_ExpensesOverAssets 2.85%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.60%) [15]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.25%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 695
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,264
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,859
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 3,459
Annual Return 2011 rr_AnnualReturn2011 (9.80%)
Annual Return 2012 rr_AnnualReturn2012 17.95%
Annual Return 2013 rr_AnnualReturn2013 29.04%
Annual Return 2014 rr_AnnualReturn2014 3.17%
Annual Return 2015 rr_AnnualReturn2015 (0.23%)
Annual Return 2016 rr_AnnualReturn2016 5.52%
1 Year rr_AverageAnnualReturnYear01 (0.55%)
5 Years rr_AverageAnnualReturnYear05 9.27%
Since Inception rr_AverageAnnualReturnSinceInception 6.61%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | Class B  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 5.00% [11]
Management fees rr_ManagementFeesOverAssets none
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 1.60%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 1.00%
Total annual fund operating expenses rr_ExpensesOverAssets 3.60%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.60%) [15]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 2.00%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 703
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,255
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,928
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 3,590
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 203
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 955
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,728
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 3,590
1 Year rr_AverageAnnualReturnYear01 (0.24%)
5 Years rr_AverageAnnualReturnYear05 9.47%
Since Inception rr_AverageAnnualReturnSinceInception 6.74%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | Class C  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management fees rr_ManagementFeesOverAssets none
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 1.60%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 1.00%
Total annual fund operating expenses rr_ExpensesOverAssets 3.60%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.60%) [15]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 2.00%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 303
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 955
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,728
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 3,758
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 203
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 955
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,728
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 3,758
1 Year rr_AverageAnnualReturnYear01 3.74%
5 Years rr_AverageAnnualReturnYear05 9.74%
Since Inception rr_AverageAnnualReturnSinceInception 6.74%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | Class M  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.50%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets none
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Other expenses rr_OtherExpensesOverAssets 1.60%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 1.00%
Total annual fund operating expenses rr_ExpensesOverAssets 3.35%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.60%) [15]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.75%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 522
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,200
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,901
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 3,758
1 Year rr_AverageAnnualReturnYear01 1.24%
5 Years rr_AverageAnnualReturnYear05 9.22%
Since Inception rr_AverageAnnualReturnSinceInception 6.44%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | Class R  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets none
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other expenses rr_OtherExpensesOverAssets 1.60%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 1.00%
Total annual fund operating expenses rr_ExpensesOverAssets 3.10%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.60%) [15]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.50%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 153
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 807
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,486
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 3,299
1 Year rr_AverageAnnualReturnYear01 5.20%
5 Years rr_AverageAnnualReturnYear05 10.29%
Since Inception rr_AverageAnnualReturnSinceInception 7.28%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | Class T  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets none
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 1.60% [5]
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 1.00%
Total annual fund operating expenses rr_ExpensesOverAssets 2.85%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.60%) [15]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.25%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 374
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 963
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,578
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 3,234
1 Year rr_AverageAnnualReturnYear01 2.88% [7]
5 Years rr_AverageAnnualReturnYear05 10.02% [7]
Since Inception rr_AverageAnnualReturnSinceInception 7.15% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | Class Y  
Risk Return Abstract rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management fees rr_ManagementFeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 1.60%
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 1.00%
Total annual fund operating expenses rr_ExpensesOverAssets 2.60%
Expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (1.60%) [15]
Total annual fund operating expenses after expense reimbursement rr_NetExpensesOverAssets 1.00%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 102
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 656
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,237
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,815
1 Year rr_AverageAnnualReturnYear01 5.74%
5 Years rr_AverageAnnualReturnYear05 10.84%
Since Inception rr_AverageAnnualReturnSinceInception 7.81%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | after taxes on distributions | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.20%)
5 Years rr_AverageAnnualReturnYear05 7.35%
Since Inception rr_AverageAnnualReturnSinceInception 4.93%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | after taxes on distributions and sale of fund shares | Class A  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.23%
5 Years rr_AverageAnnualReturnYear05 7.19%
Since Inception rr_AverageAnnualReturnSinceInception 5.07%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
Putnam Global Sector Fund | MSCI World Index (ND) (no deduction for fees, expenses or taxes other than withholding taxes on reinvested dividends)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.51%
5 Years rr_AverageAnnualReturnYear05 10.41%
Since Inception rr_AverageAnnualReturnSinceInception 7.97%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2010
[1] Applies only to certain redemptions of shares bought with no initial sales charge.
[2] Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 100 basis points. The fund's base management fee prior to any performance adjustment was 0.40%.
[3] This charge is phased out over two years.
[4] This charge is eliminated after one year.
[5] Other expenses are based on expenses of class A shares for the fund's last fiscal year.
[6] Performance for class R6 shares prior to its inception (7/2/12) and class P shares prior to its inception (8/31/16) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 and class P shares; had it, returns would have been higher.
[7] Class T shares were not outstanding during the time periods shown. Performance shown for class T shares is derived from the historical performance of class A shares.
[8] Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 300 basis points. The fund's base management fee prior to any performance adjustment was 0.60%.
[9] Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 500 basis points. For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.723%.
[10] Reflects Putnam Investment Management, LLC's contractual obligation to limit certain fund expenses through 2/28/18. This obligation may be modified or discontinued only with approval of the Board of Trustees.
[11] This charge is phased out over six years.
[12] Other expenses are based on expenses of class A shares (adjusted for the lower investor servicing fees applicable to class P shares) for the fund's last fiscal year.
[13] Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 700 basis points. For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.876%.
[14] Restated to reflect current fees resulting from a change to the fund's investor servicing arrangements effective September 1, 2016.
[15] Reflects Putnam Investment Management, LLC's contractual obligation to limit certain fund expenses through February 28, 2018. This obligation may be modified or discontinued only with approval of the Board of Trustees.
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Putnam Absolute Return 700 Fund
Fund Summary
Goal
Putnam Absolute Return 700 Fund seeks to earn a positive total return that exceeds the return on U.S. Treasury bills by 700 basis points (or 7.00%) on an annualized basis over a reasonable period of time (generally at least three years or more) regardless of market conditions.
Fees and expenses
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 40 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI).
Shareholder fees (fees paid directly from your investment)
Shareholder Fees - Putnam Absolute Return 700 Fund
Class A
Class B
Class C
Class M
Class P
Class R
Class R6
Class T
Class Y
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 5.75% none none 3.50% none none none 2.50% none
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower) 1.00% [1] 5.00% [2] 1.00% [3] none none none none none none
[1] Applies only to certain redemptions of shares bought with no initial sales charge.
[2] This charge is phased out over six years.
[3] This charge is eliminated after one year.
Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Putnam Absolute Return 700 Fund
Class A
Class B
Class C
Class M
Class P
Class R
Class R6
Class T
Class Y
Management fees [1] 0.72% 0.72% 0.72% 0.72% 0.72% 0.72% 0.72% 0.72% 0.72%
Distribution and service (12b-1) fees 0.25% 1.00% 1.00% 0.75% none 0.50%   0.25%  
Other expenses 0.23% [2] 0.23% [2] 0.23% [2] 0.23% [2] 0.09% [3] 0.23% [2] 0.13% 0.23% [3] 0.23% [2]
Acquired fund fees and expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Total annual fund operating expenses 1.21% 1.96% 1.96% 1.71% 0.82% 1.46% 0.86% 1.21% 0.96%
[1] Management fees reflect a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the fund's target, which is the performance of the BofA Merrill Lynch U.S. Treasury Bill Index plus 700 basis points. For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.876%.
[2] Restated to reflect current fees resulting from a change to the fund's investor servicing arrangements effective September 1, 2016.
[3] Other expenses are based on expenses of class A shares (adjusted for the lower investor servicing fees applicable to class P shares) for the fund's last fiscal year.
Example
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 $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. Your actual costs may be higher or lower.
Expense Example - Putnam Absolute Return 700 Fund - USD ($)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Class A 691 937 1,202 1,957
Class B 699 915 1,257 2,091
Class C 299 615 1,057 2,285
Class M 518 870 1,246 2,299
Class P 84 262 455 1,014
Class R 149 462 797 1,746
Class R6 88 274 477 1,061
Class T 370 624 898 1,679
Class Y 98 306 531 1,178
Expense Example, No Redemption - Putnam Absolute Return 700 Fund - USD ($)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
Class B 199 615 1,057 2,091
Class C 199 615 1,057 2,285
Portfolio turnover
The fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’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’s turnover rate in the most recent fiscal year was 578%.
Investments
The fund is designed to pursue a consistent absolute return by combining two independent investment strategies — a beta strategy, which provides broad exposure to investment markets, and an alpha strategy, which seeks returns from active trading. The beta strategy seeks to balance risk and to provide positive total return by investing, without limit, in many different asset classes, including U.S., international, and emerging markets equity securities (growth or value stocks or both) and fixed-income securities; mortgage- and asset-backed securities; below-investment-grade securities (sometimes referred to as “junk bonds”); inflation-protected securities; commodities; and real estate investment trusts (REITs). The alpha strategy involves the potential use of active trading strategies designed to provide additional total return through active security selection, tactical asset allocation, currency transactions and options transactions. In pursuing a consistent absolute return, the fund’s strategies are also generally intended to produce lower volatility over a reasonable period of time than has been historically associated with traditional asset classes that have earned similar levels of return over long historical periods. These traditional asset classes might include, for example, equities or equity-like investments.

We may consider, among other factors, a company’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 when deciding whether to buy or sell fixed-income investments. We may also take into account general market conditions when making investment decisions. We typically use derivatives, such as futures, options, certain foreign currency transactions, warrants and swap contracts, to a significant extent for hedging purposes and to increase the fund’s exposure to the asset classes and strategies mentioned above, which may create investment leverage.

Putnam Absolute Return 700 Fund has a higher risk and return profile than Putnam Absolute Return 500 Fund as a result of increased exposure to the asset classes and strategies mentioned above.
Risks
It is important to understand that you can lose money by investing in the fund.

Our allocation of assets among asset classes may hurt performance. The value of stocks and bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound.

Bond investments are subject to interest rate risk, which means the value of the fund’s bond investments is likely to fall if interest rates rise. Bond investments also are subject to credit risk, which is the risk that the issuer of the bond may default on payment of interest or principal. Interest rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds, which may be considered speculative. Mortgage-backed investments, unlike traditional debt investments, are also subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds 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.

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 or become illiquid. Our alpha strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Derivatives also involve the risk, in the case of many over-the-counter instruments, 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.

The fund may not achieve its goal, and it is not intended to be a complete investment program. The fund’s efforts to produce lower volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. In addition, under certain market conditions, the fund may accept greater volatility than would typically be the case, in order to seek its targeted return. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Investor profile

The fund is one of four Putnam Absolute Return Funds designed for investors seeking positive total return in excess of the return on U.S. Treasury bills by a targeted amount (100, 300, 500 or 700 basis points) on an annualized basis over a reasonable period of time (a full market cycle, which is generally at least three years but may potentially be significantly longer) regardless of market conditions. Because the fund seeks performance over a reasonable period of time, investors should be willing to wait out short-term market fluctuations and should generally have an investment horizon of at least three years or more. The fund may be suitable for you if you are considering a stock fund, or a fund that can manage allocations and risk across global asset classes.
Performance
The performance information below gives some indication of the risks associated with an investment in the fund by showing the fund'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.
Annual total returns for class A shares before sales charges
Bar Chart
Best calendar quarter
Q1 2012  6.07%

Worst calendar quarter
Q3 2011  -5.81%
Average annual total returns after sales charges (for periods ending 12/31/16)
Average Annual Total Returns - Putnam Absolute Return 700 Fund
1 Year
5 Years
Since Inception
Inception Date
Class A (3.20%) 2.85% 4.01% Dec. 23, 2008
Class A | after taxes on distributions (3.20%) 1.84% 2.99% Dec. 23, 2008
Class A | after taxes on distributions and sale of fund shares (1.81%) 1.90% 2.81% Dec. 23, 2008
Class B (2.98%) 2.95% 3.98% Dec. 23, 2008
Class C 0.93% 3.29% 4.00% Dec. 23, 2008
Class M (1.29%) 2.83% 3.76% Dec. 23, 2008
Class P 3.07% [1] 4.35% [1] 5.03% [1] Dec. 23, 2008
Class R 2.55% 3.84% 4.49% Dec. 23, 2008
Class R6 3.15% [1] 4.43% [1] 5.08% [1] Dec. 23, 2008
Class T 0.14% [2] 3.55% [2] 4.45% [2] Dec. 23, 2008
Class Y 2.98% 4.33% 5.02% Dec. 23, 2008
BofA Merrill Lynch U.S. Treasury Bill Index (no deduction for fees, expenses or taxes) 0.37% 0.14% 0.17% Dec. 23, 2008
BofA Merrill Lynch U.S. Treasury Bill Index plus 700 basis points (no deduction for fees, expenses or taxes) 7.37% 7.14% 7.17% Dec. 23, 2008
S&P 500 Index (no deduction for fees, expenses or taxes) 11.96% 14.66% 15.08% Dec. 23, 2008
Bloomberg Barclays U.S. Aggregate Bond Index (no deduction for fees, expenses or taxes) 2.65% 2.23% 3.93% Dec. 23, 2008
[1] Performance for class R6 shares prior to its inception (7/2/12) and class P shares prior to its inception (8/31/16) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 and class P shares; had it, returns would have been higher.
[2] Class T shares were not outstanding during the time periods shown. Performance shown for class T shares is derived from the historical performance of class A shares.
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’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.

Class B share performance reflects conversion to class A shares after eight years.

The Bloomberg Barclays U.S. Aggregate Bond Index and the S&P 500 Index are broad measures of market performance. Securities in the fund do not match those in the indexes and the performance of the fund will differ.