
	As filed with the Securities and Exchange Commission on
	July 13 , 2018
	Registration No. 033-56339
	811-07237

	SECURITIES AND EXCHANGE COMMISSION
	WASHINGTON, D.C. 20549

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	FORM N-1A
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	REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933	/ X /
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	Pre-Effective Amendment No.	/ /
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	Post-Effective Amendment No. 201	/ X /
	and	----
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	REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY	/ X /
	ACT OF 1940	----
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	Amendment No. 199	/ X /
	(Check appropriate box or boxes)	----

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	PUTNAM INVESTMENT FUNDS
	(Exact name of registrant as specified in charter)

	One Post Office Square, Boston, Massachusetts 02109
	(Address of principal executive offices)

	Registrant's Telephone Number, including Area Code
	(617) 292-1000

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	It is proposed that this filing will become effective
	(check appropriate box)

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/ /	immediately upon filing pursuant to paragraph (b)
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/ X /	on June 30, 2018 pursuant to paragraph (b)
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/ /	60 days after filing pursuant to paragraph (a)(1)
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/ /	on (date) pursuant to paragraph (a)(1)
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/ /	75 days after filing pursuant to paragraph (a)(2)
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/ /	on (date) pursuant to paragraph (a)(2) of Rule 485.
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	If appropriate, check the following box:
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/ /	this post-effective amendment designates a new
----	effective date for a previously filed post-effective amendment.

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	ROBERT T. BURNS, Vice President
	PUTNAM INVESTMENT FUNDS
	One Post Office Square
	Boston, Massachusetts 02109
	(Name and address of agent for service)
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	Copy to:

	BRYAN CHEGWIDDEN, Esquire
	ROPES & GRAY LLP
	1211 Avenue of the Americas
	New York, New York 10036
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This Post-Effective Amendment relates solely to the Registrant's Putnam Small Cap Value Fund series. Information contained in the Registrant's Registration Statement relating to any other series of the Registrant is neither amended nor superseded hereby.

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Boston, and The Commonwealth of Massachusetts, on the 13th day of July, 2018.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the date indicated:


Signature	Title

Jameson A. Baxter*	Chair, Board of Trustees

Kenneth R. Leibler*	Vice Chair, Board of Trustees

Robert L. Reynolds*	President and Trustee

Jonathan S. Horwitz*	Executive Vice President, Principal Executive
	Officer and Compliance Liaison

Janet C. Smith*	Vice President, Principal Financial Officer, Principal
	Accounting Officer and Assistant Treasurer

Liaquat Ahamed*	Trustee

Ravi Akhoury*	Trustee

Barbara M. Baumann*	Trustee

Katinka Domotorffy*	Trustee

Catharine Bond Hill*	Trustee

Paul L. Joskow*	Trustee

Robert E. Patterson*	Trustee

George Putnam, III*	Trustee

Manoj P. Singh*	Trustee


	By: /s/ Jonathan S. Horwitz,
	as Attorney-in-Fact
	July 13, 2018

	* Signed pursuant to power of attorney filed in Post-Effective Amendment No. 189 to the Registrant’s Registration Statement on November 30, 2017.


	Putnam Investment Funds on behalf of Putnam Small Cap Value Fund

	By: /s/ Jonathan S. Horwitz, Executive Vice President, Principal Executive Officer and Compliance Liaison