Prospectus Supplement   February 3, 2016 

Putnam Absolute Return 100 Fund 

Prospectus dated February 28, 2015 

Putnam Absolute Return 300 Fund 

Prospectus dated February 28, 2015 

Putnam Absolute Return 500 Fund 

Prospectus dated February 28, 2015 

Putnam Absolute Return 700 Fund 

Prospectus dated February 28, 2015 

Putnam Diversified Income Trust 

Prospectus dated January 30, 2016 

Putnam Dynamic Risk Allocation Fund 

Prospectus dated September 30, 2015 

Putnam Global Equity Fund 

Prospectus dated February 28, 2015 

The Putnam Fund for Growth and Income 

Prospectus dated February 28, 2015 

Putnam International Value Fund 

Prospectus dated October 30, 2015 

Putnam Investors Fund 

Prospectus dated November 30, 2015 

Class R5 shares are terminated for these funds. References to class R5 shares in each fund’s prospectus are hereby removed.

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