Putnam 529 Age-Based 1997

The Age-Based Asset Allocation Investment Options invest across four broad asset categories: money market, fixed income investments, U.S. equity investments and non-U.S. equity investments. Within these categories, investments are spread over a range of Underlying Investments that concentrate on different asset classes or reflect different styles.

Fund Description

The year in which the Beneficiary of an Account was born determines how contributions are allocated. An Account for a Beneficiary who is an infant will be weighted toward Asset Allocation Portfolios that invest in equity securities. The allocation varies from 85% equity and 15% fixed income to 15% equity and 85% fixed income as the age of the Beneficiary increases.

Management team

Data is historical. Past performance is not a guarantee of future results. More recent returns may be less or more than those shown. Investment return and principal value will fluctuate, and you may have a gain or a loss when you sell your shares. Performance assumes reinvestment of distributions. Returns after sales charge for class A shares reflect a sales charge of 5.75% for the Goal-Based, Age-Based, Absolute Return 500 and 700 funds, and Equity Asset Class Options, and 4.00% for the Fixed-Income Asset Class Option. The Government Money Market option does not have an initial sales charge or CDSC, and Absolute Return 100 and 300 Funds initial sales charge is 1.00%. Performance reflects ongoing fees and expenses, including an annualized 0.20% fee charged by the College Savings Plans of Nevada and the Nevada College Savings Trust Fund and the fees and other expenses of the Putnam Mutual Funds in which the plan invests. The funds' expense ratios are taken from the most recent prospectus and are subject to change.

Indexes are unmanaged and used as a broad measure of market performance. It is not possible to invest directly in an index. Past performance is not indicative of future results. Please see the offering statement for more information.

Fund Facts as of 11/30/17

Fiscal Year End June
Category Age-Based
Product Status Open to new investors
Inception 10/01/10
Fund Code 4065
CUSIP 74675P533
Number of Accounts 282
Outstanding Shares 283,397
Total Net assets $3.82M

Literature


Performance

Total Return (%) as of 09/30/17

Annualized Performance 1 yr. 3 yrs. 5 yrs. Life (inception: 10/01/10)
Putnam 529 Age-Based 1997 (after sales charge) -4.25% -0.81% 2.26% 3.44%
Putnam 529 Age-Based 1997 (before sales charge) 1.59% 1.17% 3.47% 4.32%

Annual Performance as of 09/30/17

  2011 2012 2013 2014 2015 2016
Putnam 529 Age-Based 1997 (before sales charge) 0.68% 9.40% 9.90% 4.63% -0.15% 1.07%

Pricing as of 12/15/17

Class Before Sales Charge NAV CHANGE After Sales Charge 52 Week High NAV
(Date)
52 Week Low NAV
(Date)
A $13.50 $0.01 $14.32 $13.50 (12/15/17) $13.22 (12/16/16)

Data is historical. Past performance is not a guarantee of future results. More recent returns may be less or more than those shown. Investment return and principal value will fluctuate, and you may have a gain or a loss when you sell your shares. Performance assumes reinvestment of distributions. Returns after sales charge for class A shares reflect a sales charge of 5.75% for the Goal-Based, Age-Based, Absolute Return 500 and 700 funds, and Equity Asset Class Options, and 4.00% for the Fixed-Income Asset Class Option. The Government Money Market option does not have an initial sales charge or CDSC, and Absolute Return 100 and 300 Funds initial sales charge is 1.00%. Performance reflects ongoing fees and expenses, including an annualized 0.20% fee charged by the College Savings Plans of Nevada and the Nevada College Savings Trust Fund and the fees and other expenses of the Putnam Mutual Funds in which the plan invests. The funds' expense ratios are taken from the most recent prospectus and are subject to change.

Indexes are unmanaged and used as a broad measure of market performance. It is not possible to invest directly in an index. Past performance is not indicative of future results. Please see the offering statement for more information.


Performance Snapshot

  Before sales charge After sales charge
Monthly 0.15 % -5.61 %
as of 11/30/17
YTD 1.96 % -3.90 %
as of 12/15/17

Holdings

Top Holdings as of 11/30/17

Putnam 529 GAA Money Market Portfolio 82.99%
Putnam 529 GAA Conservative Portfolio
Portfolio composition as of 11/30/17
U.S. Investment-grade bonds
56.16%
U.S. large-cap equity
21.30%
International equity
6.02%
U.S. small- and mid-cap equity
6.02%
U.S. money markets
5.61%
U.S. High-yield bonds
4.89%
Composition will vary over time.
16.71%
Putnam 529 GAA Balanced Portfolio
Portfolio composition as of 11/30/17
U.S. large-cap equity
41.36%
U.S. Investment-grade bonds
26.56%
U.S. small- and mid-cap equity
11.54%
International equity
10.98%
U.S. High-yield bonds
4.96%
U.S. money markets
4.60%
Composition will vary over time.
0.35%
Top holdings, total: 100.05%

Portfolio Composition as of 11/30/17

U.S. money markets 83.89%
U.S. Investment-grade bonds 9.48%
U.S. large-cap equity 3.70%
U.S. small- and mid-cap equity 1.05%
International equity 1.04%
U.S. High-yield bonds 0.83%

Expenses

Expense ratio

Class A† Class B Class C Class D*
Total expense ratio 0.98% 1.73% 1.73% 0.98%
What you pay 0.98% 1.73% 1.73% 0.98%

Sales Charges / Dealer Allowance

Breakpoint Class A† Class B Class C Class D*
$0-$49,999 5.75% / 5.00% 0.00% / 4.00% 0.00% / 1.00% 3.50% / 3.00%
$50,000-$99,999 4.50% / 3.75% 0.00% / 4.00% 0.00% / 1.00% 3.50% / 3.00%
$100,000-$249,999 3.50% / 2.75% -- 0.00% / 1.00% 3.50% / 2.75%
$250,000-$499,999 2.50% / 2.00% -- 0.00% / 1.00% 2.50% / 2.00%
$500,000-$999,999 2.00% / 1.75% -- 0.00% / 1.00% 2.00% / 1.75%
$1m-$4m 0.00% / 1.00% -- -- 0.00% / 1.00%
$4m-$50m 0.00% / 0.50% -- -- 0.00% / 0.50%
$50M+ 0.00% / 0.25% -- -- 0.00% / 0.25%

CDSC

  Class A†
(sales for $1,000,000+ )
Class B Class C Class D*
(sales for $1,000,000+ )
0 to 9 mts. 1.00% 5.00% 1.00% 1.00%
9 to 12 mts. 0.00% 5.00% 1.00% 0.00%
2 yrs. -- 4.00% -- --
3 yrs. -- 3.00% -- --
4 yrs. -- 3.00% -- --
5 yrs. -- 2.00% -- --
6 yrs. -- 1.00% -- --
7+ yrs. -- 0.00% -- --

Trail Commissions

  Class A† Class B Class C Class D*
  0.25% 0.25% 1.00% 0.25%
  NA NA NA NA
  NA NA NA NA

† For exceptions to sales load, dealer reallowance and trail commission information set forth above, see the Offering Statement.

* D shares are only available to certain account owners - see offering statement for details

Portfolio characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Additional risks may be associated with emerging-market securities, including illiquidity and volatility. The fund may invest a portion of its assets in small and/or midsize companies. Such investments increase the risk of greater price fluctuations. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. The use of derivatives involves additional risks, such as the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. Funds that invest in bonds are subject to certain risks including interest-rate risk, credit risk, and inflation risk. As interest rates rise, the prices of bonds fall. Long-term bonds are more exposed to interest-rate risk than short-term bonds. Unlike bonds, bond funds have ongoing fees and expenses.

Robert Kea will retire from Putnam effective 12/31/17.