DEFA14A 1 equity1.txt PUTNAM EQUITY FUNDS PROXY SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant / X / Filed by a party other than the Registrant / / Check the appropriate box: / / Preliminary Proxy Statement / / Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e) (2)) / / Definitive Proxy Statement / / Definitive Additional Materials / X / Soliciting Material Pursuant to Sec. 240.14a-11(c) or Sec. 240.14a-12 PUTNAM ASSET ALLOCATION FUNDS PUTNAM CAPITAL APPRECIATION FUND PUTNAM CLASSIC EQUITY FUND PUTNAM CONVERTIBLE INCOME-GROWTH TRUST PUTNAM DISCOVERY GROWTH FUND PUTNAM EQUITY INCOME FUND PUTNAM EUROPE EQUITY FUND THE GEORGE PUTNAM FUND OF BOSTON PUTNAM FUNDS TRUST PUTNAM GLOBAL EQUITY FUND PUTNAM GLOBAL NATURAL RESOURCES FUND THE PUTNAM FUND FOR GROWTH AND INCOME PUTNAM HEALTH SCIENCES TRUST PUTNAM INTERNATIONAL EQUITY FUND PUTNAM INVESTMENT FUNDS PUTNAM INVESTORS FUND PUTNAM NEW OPPORTUNITIES FUND PUTNAM OTC & EMERGING GROWTH FUND PUTNAM TAX SMART FUNDS TRUST PUTNAM UTILITIES GROWTH AND INCOME FUND PUTNAM VISTA FUND PUTNAM VOYAGER FUND (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than Registrant) Payment of Filing Fee (Check the appropriate box): / X / No fee required / / Fee computed on table below per Exchange Act Rule 14a 6(i)(1) and 0-11 (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: / / Fee paid previously with preliminary materials. / / Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: Understanding your proxy Your vote is important. As a Putnam fund shareholder, you have the opportunity to vote on proposals that affect the management of your fund. This guide can help you decide how you want to vote on the proposals affecting your fund, which are explained in more detail in the proxy statement. Please spend a few minutes to find out what you need to know to vote. Your proxy ballot and postage-paid return envelope are included in this package. You can mail them back or vote by phone or on the Web. Thank you for taking the time to vote. Prompt action on your part saves the funds money. ---------------------------------------------------- What is a proxy? A proxy is a person who can act on behalf of another. In this case, your proxies are two Trustees of the Putnam funds (or their substitutes), who are empowered to vote for you based on the instructions you provide. What is a proxy ballot? The proxy ballot tells the Trustees how to vote on your behalf. Each share is entitled to one vote, and fractional shares vote proportionally. PUTNAM INVESTMENTS [SCALE LOGO OMITTED] What is a proxy statement? The booklet you received is a proxy statement, describing the proposals you are being asked to vote on. The proxy statement includes the recommendations of the funds' Trustees, who recommend that shareholders vote in favor of the proposals. How do I vote my proxy? You can vote by mailing the proxy ballot in the postage-paid envelope provided, by phone, or by going to the Web. See your proxy ballot for the phone number and Web address. What if I don't return my proxy ballot? If we don't receive the proxy ballots back in sufficient numbers, we have to make follow-up solicitations, either by mail or by phone, which can cost your fund money. All shareholders benefit when proxies are voted in a timely fashion. What if I just sign my ballot? If you sign the card without providing your instructions, your shares will be voted according to the Trustees' recommendations. What proposals am I being asked to vote on? As a shareholder, you have the opportunity to vote on four types of proposals: 1) the election of your funds' Trustees, 2) amending or eliminating certain investment restrictions that Putnam believes will provide greater investment flexibility in managing the funds, 3) amending the funds' governing documents to enhance the flexibility and efficiency of the funds' operations, and 4) amending one fund's investment objective. Who are the Trustees and what is their role? The Trustees play an important role in protecting fund shareholders. They are responsible for approving the fees paid to Putnam Investments and its affiliates, reviewing investment performance, selecting the funds' auditors, monitoring conflicts of interest, and voting proxies related to the funds' portfolios. Why are Trustees being elected? Putnam funds must elect Trustees every five years. The Putnam funds currently have 11 Trustees, nine of whom are independent. The Trustees have nominated three additional Trustees, two of whom would be independent. You are asked to vote for 14 Trustees in total, 11 of whom will be independent. What is an independent Trustee? Independent Trustees are not affiliated with Putnam Investments, the funds' investment manager. They vote separately to approve financial arrangements and agreements regarding the investment management of the funds. At least 75% of your funds' Trustees are required to be independent. Why amend or eliminate investment restrictions? Generally, the purpose of these proposed changes is to increase each fund's investment flexibility, simplify the investment restrictions, and make them uniform across the Putnam funds. These changes would also make Putnam's compliance monitoring more efficient. As the investment restrictions vary from fund to fund, you can consult your proxy ballot to see which proposals apply to your fund(s). The materials mention a shareholder meeting. Who attends? Only a small number of shareholders attend the meeting and, as a result, most choose to send in their proxies to make their wishes known. What if I need more information? Please call 1-877-832-6360 or your financial advisor. 217218 8/04 Understanding your proxy Your vote is important. As a Putnam fund shareholder, you have the opportunity to vote on proposals that affect the management of your fund. This guide can help you decide how you want to vote on the proposals affecting your fund, which are explained in more detail in the proxy statement. Please spend a few minutes to find out what you need to know to vote. Your proxy ballot and postage-paid return envelope are included in this package. You can mail them back or vote by phone or on the Web. Thank you for taking the time to vote. Prompt action on your part saves the funds money. ---------------------------------------------------- What is a proxy? A proxy is a person who can act on behalf of another. In this case, your proxies are two Trustees of the Putnam funds (or their substitutes), who are empowered to vote for you based on the instructions you provide. What is a proxy ballot? The proxy ballot tells the Trustees how to vote on your behalf. Each share is entitled to one vote, and fractional shares vote proportionally. PUTNAM INVESTMENTS [SCALE LOGO OMITTED] What is a proxy statement? The booklet you received is a proxy statement, describing the proposals you are being asked to vote on. The proxy statement includes the recommendations of the funds' Trustees, who recommend that shareholders vote in favor of the proposals. How do I vote my proxy? You can vote by mailing the proxy ballot in the postage-paid envelope provided, by phone, or by going to the Web. See your proxy ballot for the phone number and Web address. What if I don't return my proxy ballot? If we don't receive the proxy ballots back in sufficient numbers, we have to make follow-up solicitations, either by mail or by phone, which can cost your fund money. All shareholders benefit when proxies are voted in a timely fashion. What if I just sign my ballot? If you sign the card without providing your instructions, your shares will be voted according to the Trustees' recommendations. What proposals am I being asked to vote on? As a shareholder, you have the opportunity to vote on four types of proposals: 1) the election of your funds' Trustees, 2) amending or eliminating certain investment restrictions that Putnam believes will provide greater investment flexibility in managing the funds, 3) amending the funds' governing documents to enhance the flexibility and efficiency of the funds' operations, and 4) amending one fund's investment objective. Who are the Trustees and what is their role? The Trustees play an important role in protecting fund shareholders. They are responsible for approving the fees paid to Putnam Investments and its affiliates, reviewing investment performance, selecting the funds' auditors, monitoring conflicts of interest, and voting proxies related to the funds' portfolios. Why are Trustees being elected? Putnam funds must elect Trustees every five years. The Putnam funds currently have 11 Trustees, nine of whom are independent. The Trustees have nominated three additional Trustees, two of whom would be independent. You are asked to vote for 14 Trustees in total, 11 of whom will be independent. What is an independent Trustee? Independent Trustees are not affiliated with Putnam Investments, the funds' investment manager. They vote separately to approve financial arrangements and agreements regarding the investment management of the funds. At least 75% of your funds' Trustees are required to be independent. Why amend or eliminate investment restrictions? Generally, the purpose of these proposed changes is to increase each fund's investment flexibility, simplify the investment restrictions, and make them uniform across the Putnam funds. These changes would also make Putnam's compliance monitoring more efficient. As the investment restrictions vary from fund to fund, you can consult your proxy ballot to see which proposals apply to your fund(s). The materials mention a shareholder meeting. Who attends? Only a small number of shareholders attend the meeting and, as a result, most choose to send in their proxies to make their wishes known. What if I need more information? Please call 1-800-225-1581 or your financial advisor. 217218 8/04