UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Notice of Effectiveness
Effectiveness Date:	September 9, 2022 11:55 A.M.

Form:

N-14

CIK: 0000914209 Company Name: PUTNAM ASSET ALLOCATION FUNDS File Number: 333-266242 SERIES/CLASSES (CONTRACTS) MERGERS CIK Series ID Class/Contract Name Acquiring: 0000914209 PUTNAM ASSET ALLOCATION FUNDS S000067964 Putnam Multi-Asset Income Fund C000217944 Class P Shares Target: 0001005942 PUTNAM FUNDS TRUST S000024276 Putnam Multi-Asset Absolute Return Fund C000174703 Class P Shares CIK Series ID Class/Contract Name Acquiring: 0000914209 PUTNAM ASSET ALLOCATION FUNDS S000067964 Putnam Multi-Asset Income Fund C000236748 Class Y Shares Target: 0001005942 PUTNAM FUNDS TRUST S000024276 Putnam Multi-Asset Absolute Return Fund C000071722 Class Y CIK Series ID Class/Contract Name Acquiring: 0000914209 PUTNAM ASSET ALLOCATION FUNDS S000067964 Putnam Multi-Asset Income Fund C000236749 Class R6 Shares Target: 0001005942 PUTNAM FUNDS TRUST S000024276 Putnam Multi-Asset Absolute Return Fund C000118008 Class R6 CIK Series ID Class/Contract Name Acquiring: 0000914209 PUTNAM ASSET ALLOCATION FUNDS S000067964 Putnam Multi-Asset Income Fund C000236750 Class A Shares Target: 0001005942 PUTNAM FUNDS TRUST S000024276 Putnam Multi-Asset Absolute Return Fund C000071717 Class A Target: 0001005942 PUTNAM FUNDS TRUST S000024276 Putnam Multi-Asset Absolute Return Fund C000071718 Class B CIK Series ID Class/Contract Name Acquiring: 0000914209 PUTNAM ASSET ALLOCATION FUNDS S000067964 Putnam Multi-Asset Income Fund C000236751 Class R Shares Target: 0001005942 PUTNAM FUNDS TRUST S000024276 Putnam Multi-Asset Absolute Return Fund C000071721 Class R CIK Series ID Class/Contract Name Acquiring: 0000914209 PUTNAM ASSET ALLOCATION FUNDS S000067964 Putnam Multi-Asset Income Fund C000236752 Class C Shares Target: 0001005942 PUTNAM FUNDS TRUST S000024276 Putnam Multi-Asset Absolute Return Fund C000071719 Class C