XML 10 R2.htm IDEA: XBRL DOCUMENT v3.24.1
Label Element Value
Prospectus [Line Items] rr_ProspectusLineItems  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2023
Entity Registrant Name dei_EntityRegistrantName Putnam Convertible Securities Fund
Entity Central Index Key dei_EntityCentralIndexKey 0000081247
Entity Inv Company Type dei_EntityInvCompanyType N-1A
Amendment Flag dei_AmendmentFlag false
Putnam Convertible Securities Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading Prospectuses dated February 29, 2024
Strategy [Heading] rr_StrategyHeading Effective immediately, the sub-section Investments, risks, and performance – Investments in the section Fund summary is deleted in its entirety and replaced with the following:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Investments

 

We invest mainly in convertible securities of U.S. companies. Under normal circumstances, we invest at least 80% of the fund's net assets in convertible securities. This policy may be changed only after 60 days' notice to shareholders. Convertible securities combine the investment characteristics of bonds and common stocks. Convertible securities include bonds, preferred stocks and other instruments that can be converted into or exchanged for common stock or equivalent value. A significant portion of the convertible securities we buy are below-investment-grade (sometimes referred to as “junk bonds”). The fund invests significantly in convertible bonds that have intermediate- to long-term stated maturities (i.e., three years or longer), but often contain “put” features, which allow bondholders to sell the bond back to the company under specified circumstances, that result in shorter effective maturities. When deciding whether to buy or sell investments, we may consider, among other factors: (i) a security’s structural features, such as its position in a company’s capital structure and “put” and “call” features (a company’s right to repurchase the security under specified circumstances is a “call” feature); (ii) credit and prepayment risks; and (iii) with respect to a company’s common stock underlying a convertible security, the stock’s valuation and the company’s financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends.