0000081259 2024-07-22 2024-07-22 iso4217:USD pure false 497 George Putnam Balanced Fund N-1A 2023-12-31 0000081259 For each fund listed in Schedule A hereto: <p id="xdx_A80_err--RiskTextBlock_zxWPgcOno2If" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">Effective immediately, the following disclosure is added under the heading “Risks” in the subsection <i>Investments, risks, and performance</i> in the section <i>Fund summary </i>or <i>Fund summaries</i> of the fund’s prospectus:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.25in; text-align: justify; background-color: white">The fund may be an investment option for mutual funds that are managed by Franklin Resources, Inc. (Franklin Templeton) and its affiliates as “funds of funds.” Additionally, other investors from time to time may make substantial investments in the fund. Such shareholders may at times be considered to control the fund. Dispositions of a large number of shares by these shareholders may adversely affect the fund’s liquidity and net assets. These redemptions may also force the fund to sell securities, which may increase the fund’s brokerage costs.</p>