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Investment Objective
Formerly Putnam Global Governmental Income Trust.
The fund seeks high current income by investing principally in debt securities of sovereign and private issuers worldwide, including supranational issuers. Preservation of capital and long-term total return are secondary objectives, but only to the extent consistent with the objective of seeking high current income.
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Fund Description
The fund pursues high current income by investing primarily in investment-grade bonds issued by U.S. and foreign corporations, governments, and government agencies. The fund may invest up to 20% of its assets in bonds rated below investment grade (at the time of purchase). By seeking attractive opportunities across a range of markets and sectors, the fund combines broad diversification with current income potential.
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| Fund Returns |
| As of Quarter End June 30, 2007 | All returns in percentages |
| Class |
Last
Quarter |
Year
to Date |
1
Year |
3
Year |
5
Year |
10 Years |
Life of
Fund |
| A |
NAV |
0.39% |
1.44% |
5.59% |
4.19% |
6.75% |
4.35% |
7.11% |
| |
POP |
-3.42% |
-2.33% |
1.61% |
2.89% |
5.94% |
3.95% |
6.91% |
| |
Inception date: June 1, 1987 |
| B |
NAV |
0.20% |
1.06% |
4.82% |
3.42% |
5.98% |
3.57% |
6.28% |
| |
CDSC |
-4.78% |
-3.91% |
-0.18% |
2.48% |
5.66% |
3.57% |
6.28% |
| |
Inception date: February 1, 1994 |
| C |
NAV |
0.19% |
1.14% |
4.80% |
3.41% |
5.96% |
3.57% |
6.31% |
| |
POP |
-0.81% |
0.14% |
3.80% |
3.41% |
5.96% |
3.57% |
6.31% |
| |
Inception date: July 26, 1999 |
| M |
NAV |
0.33% |
1.33% |
5.38% |
3.94% |
6.49% |
4.10% |
6.81% |
| |
POP |
-2.95% |
-2.00% |
1.96% |
2.79% |
5.79% |
3.76% |
6.63% |
| |
Inception date: March 17, 1995 |
| Lehman Global Aggregate Index |
| |
NAV |
-0.89% |
0.39% |
4.67% |
4.10% |
6.28% |
5.56% |
|
Fund Returns |
| As of Month End July 31, 2007 | All returns in percentages |
| Class |
Last
Quarter |
Year
to Date |
1
Year |
3
Year |
5
Year |
10 Years |
Life of
Fund |
| A |
NAV |
--- |
3.20% |
6.59% |
4.81% |
7.09% |
4.53% |
7.17% |
| |
POP |
--- |
-0.63% |
2.58% |
3.49% |
6.28% |
4.13% |
6.97% |
| |
Inception date: June 1, 1987 |
| B |
NAV |
--- |
2.68% |
5.71% |
4.00% |
6.29% |
3.74% |
6.33% |
| |
CDSC |
--- |
-2.32% |
0.71% |
3.07% |
5.97% |
3.74% |
6.33% |
| |
Inception date: February 1, 1994 |
| C |
NAV |
--- |
2.75% |
5.79% |
4.02% |
6.29% |
3.74% |
6.37% |
| |
POP |
--- |
1.75% |
4.79% |
4.02% |
6.29% |
3.74% |
6.37% |
| |
Inception date: July 26, 1999 |
| M |
NAV |
--- |
2.99% |
6.29% |
4.52% |
6.83% |
4.27% |
6.86% |
| |
POP |
--- |
-0.38% |
2.85% |
3.37% |
6.13% |
3.93% |
6.69% |
| |
Inception date: March 17, 1995 |
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Data is historical. Past performance is no guarantee of future results. More recent returns may be worth more or less than those shown. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. For the most recent month-end performance, visit www.putnaminvestments.com.
Performance assumes reinvestment of distributions and does not account for taxes. Returns at public offering price (POP) for class A and class M shares reflect the current maximum initial sales charges of 5.25% and 3.25% for equity funds, and 3.75% and 3.25% for income funds (3.25% and 2.00% for Putnam Limited Duration Government Income Fund and Putnam Floating Rate Income Fund), respectively. POP performance of income funds' class A shares (other than Putnam Limited Duration Government Income Fund and Putnam Floating Rate Income Fund) and equity funds' class M shares reflects a reduction in maximum sales charge that took effect April 1, 2005. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declines to 1% in the sixth year, and is eliminated thereafter (except for Putnam Limited Duration Government Income Fund and Putnam Floating Rate Income Fund, which is 3% in the first year, declines to 1% in the fourth year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Insured Municipal Fund, which are based on the historical performance of class B shares). Class A, M, and T shares of Putnam money market funds have no initial sales charge. For a portion of the period some funds may have limited expenses or been sold on a limited basis with limited assets and expenses, without which returns would be lower. A short-term trading fee of up to 1% may apply.
The Lehman Global Aggregate Bond Index is an unmanaged index of global investment-grade fixed-income securities.
International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Lower rated bonds may offer higher yields in return for more risk. Mutual funds that invest in government securities in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk.
The use of derivatives involves special risks and may result in losses.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
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Expense Ratio
| Class |
Fund's total expense ratio |
What you pay* |
*Global Income Trust reflects Putnam Management’s decision to contractually limit expenses through 10/31/2007.
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| Class |
1 Year |
3 Years |
5 Years |
10 Years |
| Lipper Category: Global Income |
| A |
19% (20/106) |
43% (40/93) |
36% (30/83) |
69% (37/53) |
| B |
42% (44/106) |
68% (63/93) |
46% (38/83) |
89% (48/53) |
| C |
39% (41/106) |
66% (62/93) |
46% (38/83) |
--- |
| M |
28% (29/106) |
52% (48/93) |
41% (34/83) |
78% (42/53) |
Lipper Analytical Services, Inc. is an industry research firm whose rankings are based on total return performance and do not reflect the effect of sales charges. Each fund is ranked within a universe of funds similar in investment objective. Past performance is no guarantee of future results.
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| Top 10 Holdings | Holdings will vary over time |
| As of July 31, 2007 | Holdings represent 30.16% of portfolio |
| Rank |
Fund |
Percentage of Portfolio |
| 1. |
Netherlands Government 05.0000 07/15/2012 |
5.14% |
| 2. |
Japan Govt Cpi Linked 01.0000 06/10/2016 |
5.00% |
| 3. |
Spanish Govt 5.00 7/30/2012 |
3.42% |
| 4. |
Republic Of Austria 144a P/P 3.80 10/20/2013 |
3.32% |
| 5. |
Fnma Fn30 Otba 06.0000 08/01/2036 |
2.73% |
| 6. |
Fnma 30 year Conv 5.50 12/31/2037 |
2.23% |
| 7. |
Fhs 242 Po Po 00.0000 11/15/2036 |
2.21% |
| 8. |
Bayc 2006-Cd1a a1 P/P 144a 4.884 07/25/2023 |
2.12% |
| 9. |
Republic Of Austria Chf 03.3750 01/25/2012 |
2.02% |
| 10. |
Irish Govt 5.00 4/18/2013 |
1.97% |
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| Rank |
Sector |
Percentage of Portfolio |
| 1. |
Mortgage-Backed Securities |
53.39% |
| 3. |
Asset - Backed Securities |
10.94% |
| 4. |
High Yield Bonds |
5.63% |
| 5. |
Investment Grade Bonds |
1.09% |
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| Rank |
Country |
Percentage of Portfolio |
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| Mortgage-backed Securities |
53.39% |
| Asset-backed Securities |
10.94% |
| Investment Grade Bonds |
1.09% |
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| Average Effective Maturity | 8.99 years |
| Average Effective Duration | 4.38 years |
| Average Yield to Maturity | 5.62% |
| A |
SEC Yield as of 07/31/2007 |
3.91% |
3.76% |
| |
SEC Yield (unsubsidized) |
3.63% |
3.49% |
| B |
SEC Yield as of 07/31/2007 |
3.16% |
-- |
| |
SEC Yield (unsubsidized) |
2.88% |
-- |
| C |
SEC Yield as of 07/31/2007 |
3.16% |
-- |
| |
SEC Yield (unsubsidized) |
2.88% |
-- |
| M |
SEC Yield as of 07/31/2007 |
3.66% |
3.54% |
| |
SEC Yield (unsubsidized) |
3.38% |
3.27% |
| Class |
Record/Ex
Dividend Date |
Payable
Date |
Income |
ST Cap Gain |
LT Cap Gain |
| A |
07/25/2007 |
07/30/2007 |
$0.041000 |
|
|
| B |
07/25/2007 |
07/30/2007 |
$0.033000 |
|
|
| C |
07/25/2007 |
07/30/2007 |
$0.033000 |
|
|
| M |
07/25/2007 |
07/30/2007 |
$0.038000 |
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