Summary Prospectus Supplement	December 1, 2017
Putnam Multi-Cap Core Fund
Summary Prospectus dated August 30, 2017

Effective November 30, 2017, the sub-section Portfolio manager in the section Your fund’s management is replaced in its entirety with the following:

Portfolio manager
Gerard Sullivan, Portfolio Manager, portfolio manager of the fund since 2008

Assistant portfolio manager
Arthur Yeager, Portfolio Manager, Analyst, assistant portfolio manager of the fund since 2017

309283 12/17