Putnam Investments 

100 Federal Street 

Boston, MA 02110 

September 30, 2019 

Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549

RE:	Putnam Dynamic Asset Allocation Equity Fund, Putnam Dynamic Risk Allocation Fund and Putnam
	Mortgage Opportunities Fund (each a “Fund”), each a series of Putnam Funds Trust (the “Trust”) (Reg.
	Nos. (333-515) (811-07513) Post-Effective Amendment No. 320 to Registration Statement on Form N-1A
	(the “Amendment”)

Ladies and Gentlemen:

Pursuant to Rule 497(j) under the Securities Act of 1933, as amended, the Fund hereby certifies that the form of Prospectuses and Statements of Additional Information that would have been filed on behalf of the Funds pursuant to Rule 497(c) upon the effectiveness of Post-Effective Amendment No. 320 to the Fund’s Registration Statement on Form N-1A (the “Amendment”) would not have differed from that contained in the Amendment, which is the most recent amendment to such Registration Statement and was filed electronically on September 26, 2019.

Comments or questions concerning this certificate may be directed to Venice Monagan at 1-800-225-2465, ext. 12577.

	Very truly yours,
	Putnam Funds Trust
By:	/s/ Jonathan S. Horwitz
	Jonathan S. Horwitz
	Executive Vice President, Principal Executive
	Officer and Compliance Liaison

cc:	James E. Thomas, Esq.
	Ropes & Gray LLP