0000928816-21-000675.txt : 20210628 0000928816-21-000675.hdr.sgml : 20210628 20210628104830 ACCESSION NUMBER: 0000928816-21-000675 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20210628 DATE AS OF CHANGE: 20210628 EFFECTIVENESS DATE: 20210628 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: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 333-00515 FILM NUMBER: 211050950 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 S000024277 Putnam Dynamic Risk Allocation Fund C000071723 Class A C000071724 Class B C000071725 Class C C000071727 Class R C000071728 Class Y C000118009 Class R6 497K 1 a_drasumsupp.htm PUTNAM FUNDS TRUST a_drasumsupp.htm
Summary Prospectus Supplement   June 28, 2021 
 
Putnam Dynamic Risk Allocation Fund   
Summary Prospectus dated September 30, 2020   

 

Effective June 30, 2021,the section Your fund’s management is replaced in its entirety with the following:

Your fund’s management

Investment advisor

Putnam Investment Management, LLC

Portfolio managers

Robert Schoen, Co-Chief Investment Officer, Global Asset Allocation, portfolio manager of the fund since 2011

Brett Goldstein, Co-Chief Investment Officer, Global Asset Allocation, portfolio manager of the fund since 2019

Adrian Chan, Portfolio Manager, portfolio manager of the fund since 2021

James Fetch, Co-Head of Global Asset Allocation, portfolio manager of the fund since 2011

Jason Vaillancourt, Co-Head of Global Asset Allocation, portfolio manager of the fund since 2011

Sub-advisor

Putnam Investments Limited*

* Though the investment advisor has retained the services of Putnam Investments Limited (PIL), PIL does not currently manage any assets of the fund.


326733 6/21 

 

 GRAPHIC 3 drasumsuppx1x1.jpg GRAPHIC begin 644 drasumsuppx1x1.jpg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end