Prior to April 30, 2018, the fund was known as Putnam 529 Absolute Return 700.

Putnam 529 Multi-Asset Absolute Return

Putnam Multi-Asset Absolute Return Fund Investment Option invests in Putnam Multi-Asset Absolute Return Fund, which seeks to earn a positive total return.

Fund Description

The Individual Fund Investment Options enable Account Owners to build portfolios concentrating on specific asset classes such as large capitalization equity growth, international equity or investment grade fixed income. Doing so permits Account Owners to tailor investments to their specific investment needs and objectives that may not be met by the broader Asset Allocation Investment Options.

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 the current maximum initial sales charges of 5.75% for the Goal-Based, Age-Based, Multi-Asset Absolute Return option, and Equity Asset Class Options, 4.00% for the Fixed-Income Asset Class Option, and 1.00% for the Absolute Return 100 and Fixed Income Absolute Return options. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for the Putnam Absolute Return 100 and Putnam Fixed Income Absolute Return options, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Class D shares reflect the current maximum initial sales charges of 3.50%. The Government Money Market option does not have an initial sales charge or CDSC. 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.

Fund Facts as of 04/30/18

Fiscal Year End June
Category Absolute Return
Product Status Open to new investors
Inception 10/01/10
Fund Code 4178
CUSIP 74675T519
Number of Accounts 1281
Outstanding Shares 945,255
Total Net assets $12.62M

Literature


Performance

Total Return (%) as of 03/31/18

Annualized Performance 1 yr. 3 yrs. 5 yrs. Life (inception: 10/01/10)
Putnam 529 Multi-Asset Absolute Return (after sales charge) -3.25% -0.55% 1.54% 2.94%
Putnam 529 Multi-Asset Absolute Return (before sales charge) 2.65% 1.43% 2.75% 3.75%

Annual Performance as of 03/31/18

  2011 2012 2013 2014 2015 2016 2017
Putnam 529 Multi-Asset Absolute Return (before sales charge) 0.39% 7.50% 5.80% 5.74% -1.78% 2.64% 9.64%

Pricing as of 05/18/18

Class Before Sales Charge NAV CHANGE After Sales Charge 52 Week High NAV
(Date)
52 Week Low NAV
(Date)
A $13.33 $0.02 $14.14 $13.74 (01/26/18) $12.83 (05/18/17)

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 the current maximum initial sales charges of 5.75% for the Goal-Based, Age-Based, Multi-Asset Absolute Return option, and Equity Asset Class Options, 4.00% for the Fixed-Income Asset Class Option, and 1.00% for the Absolute Return 100 and Fixed Income Absolute Return options. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for the Putnam Absolute Return 100 and Putnam Fixed Income Absolute Return options, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Class D shares reflect the current maximum initial sales charges of 3.50%. The Government Money Market option does not have an initial sales charge or CDSC. 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.


Performance Snapshot

  Before sales charge After sales charge
Monthly 1.29 % -4.53 %
as of 04/30/18
YTD -2.34 % -7.96 %
as of 05/18/18

Holdings

Top Holdings as of 04/30/18

Multi-Asset Absolute Return Fund
Portfolio composition as of 04/30/18
Net cash
45.32%
U.S. stocks
36.66%
U.S. Treasury/agency
28.16%
Commodities
19.62%
Commercial MBS
7.99%
Agency pass-through
6.83%
Agency CMO
5.33%
International stocks
3.53%
Bank loans
2.78%
Emerging-market bonds
1.39%
Residential MBS (non-agency)
1.00%
Asset-backed securities (ABS)
0.37%
Investment-grade corporate bonds
0.30%
Emerging-market stocks
-0.27%
High-yield corporate bonds
-14.59%
Composition will vary over time.
99.58%
Putnam Govt Mmkt Fnd-A 0.47%
Top holdings, total: 100.05%

Portfolio Composition as of 04/30/18

.
Net cash 45.64%
U.S. stocks 36.54%
U.S. Treasury/agency 28.07%
Commodities 19.56%
Commercial MBS 7.96%
Agency pass-through 6.81%
Agency CMO 5.31%
International stocks 3.52%
Bank loans 2.77%
 
Other
-11.75%
Emerging-market bonds 1.39%
Residential MBS (non-agency) 1.00%
Asset-backed securities (ABS) 0.37%
Investment-grade corporate bonds 0.30%
Emerging-market stocks -0.27%
High-yield corporate bonds -14.54%

Expenses

Expense ratio

Class A† Class B Class C
Total expense ratio 1.30% 2.05% 2.05%
What you pay 1.30% 2.05% 2.05%

Sales Charges / Dealer Allowance

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

CDSC

  Class A†
(sales for $500,000+ )
Class B Class C
0 to 9 mts. 1.00% 5.00% 1.00%
9 to 12 mts. 1.00% 5.00% 1.00%
2 yrs. 0.00% 4.00% --
3 yrs. 0.00% 3.00% --
4 yrs. 0.00% 3.00% --
5 yrs. 0.00% 2.00% --
6 yrs. 0.00% 1.00% --
7+ yrs. 0.00% 0.00% --

Trail Commissions

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

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

Portfolio characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Yield more closely reflects current performance than total return.

Consider these risks before investing: Allocation of assets among asset classes may hurt performance. The value of stocks and bonds in the fund's portfolio may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions of the risk of default, changes in government intervention, and factors related to a specific issuer or industry. These factors may also lead to periods of high volatility in the financial markets and reduced liquidity in the bond markets. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Interest-rate risk is greater for longer-term bonds, and credit risk is greater for below-investment-grade bonds. Unlike bonds, funds that invest in bonds have fees and expenses. Lower-rated bonds may offer higher yields in return for more risk. Funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk and the risk that they may increase in value less when interest rates decline and decline in value more when interest rates rise. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. Our alpha strategy may lose money or not earn a return sufficient to cover associated trading and other costs. Our use of leverage obtained through derivatives increases these risks by increasing investment exposure. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. The fund's efforts to produce lower-volatility returns may not be successful and may make it more difficult at times for the fund to achieve its targeted return. Under certain market conditions, the fund may accept greater-than-typical volatility to seek its targeted return. The fund may not achieve its goal, and it is not intended to be a complete investment program. You can lose money by investing in the fund. The fund's prospectus lists additional risks.

The fund is not intended to outperform stocks and bonds during strong market rallies.