0000928816-24-000494.txt : 20240327 0000928816-24-000494.hdr.sgml : 20240327 20240327103230 ACCESSION NUMBER: 0000928816-24-000494 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240327 DATE AS OF CHANGE: 20240327 EFFECTIVENESS DATE: 20240327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM CONVERTIBLE SECURITIES FUND CENTRAL INDEX KEY: 0000081247 ORGANIZATION NAME: IRS NUMBER: 042493360 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 002-43384 FILM NUMBER: 24786689 BUSINESS ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6177601000 MAIL ADDRESS: STREET 1: 100 FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CONVERTIBLE INCOME GROWTH TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CONVERTIBLE FUND DATE OF NAME CHANGE: 19841212 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CONVERTIBLE FUND INC /PRED/ DATE OF NAME CHANGE: 19821109

0000081247 S000005511 PUTNAM CONVERTIBLE SECURITIES FUND

C000015003 Class C Shares

C000015004 Class A Shares PCONX

C000015005 Class B Shares PCNBX

C000015007 Class R Shares PCVRX

C000015008 Class Y Shares PCGYX

C000202780 Class R6 Shares

497K 1 a_convsecsumsupp.htm PUTNAM CONVERTIBLE SECURITIES FUND

Summary Prospectus Supplement March 27, 2024

Putnam Convertible Securities Fund

Summary Prospectus dated February 29, 2024

Effective immediately, the sub-section Investments in the section Investments, risks, and performance is deleted in its entirety and replaced with the following:

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.

Shareholders should retain this Supplement for future reference.

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