39113-P1 09/24
SUPPLEMENT DATED SEPTEMBER 26, 2024
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION (“SAI”)
| OF PUTNAM SHORT DURATION BOND FUND |
Effective September 30, 2024, the following changes are made to the Fund’s Summary Prospectus, Prospectus and SAI:
| 1) | The following replaces all references to Brett Kozlowski in the section titled “Your fund’s management – Portfolio managers” in the Fund’s Summary Prospectus and Prospectus: |
Thomas Runkel, CFA
Portfolio Manager, portfolio manager of the fund since 2024.
| 2) | The following replaces all references to Brett Kozlowski in the section titled “Who oversees and manages the fund? – Portfolio managers” in the Fund’s Prospectus: |
| Portfolio managers | Joined fund | Employer | Positions over past five years |
| Thomas Runkel, CFA | 2024 |
Franklin Advisers 1983 and rejoined again 2006-Present |
Portfolio Manager |
| 3) | The following replaces all references to Brett Kozlowski in the table in the section titled “PORTFOLIO MANAGERS – Other accounts managed” in the Fund’s SAI: |
|
Portfolio managers |
Other SEC-registered open-end and closed-end funds |
Other accounts that pool assets from more than one client |
Other accounts (including separate accounts, managed account programs and single-sponsor defined contribution plan offerings) | |||
| Number of accounts | Assets |
Number of accounts |
Assets |
Number of accounts |
Assets | |
| Thomas Runkel* | 7 | $6,923,500,000 | 4 | $998,100,000 | 73 | $3,811,500,000 |
*Information is provided as of August 31, 2024.
| 4) | The following replaces all references to Brett Kozlowski in the section titled “PORTFOLIO MANAGERS – Ownership of securities” in the Fund’s SAI: |
| Portfolio manager(s) | Dollar range of fund shares owned |
|
Thomas Runkel*
|
None |
| *Information is provided as of August 31, 2024. |
Shareholders should retain this Supplement for future reference.
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