Putnam RetirementReady Funds:One-step diversifcation, automaticallocations
With Putnam RetirementReady Funds, portolio diversi-cation and adjustments are automatic. Each und has adierent “target” date based on when the und’s investorsexpect to retire and begin withdrawing assets rom theiraccounts, typically at retirement. The unds are generallyweighted toward more aggressive, higher-risk invest-ments when the target date is more distant, and towardmore conservative, lower-risk investments when thetarget date is near.Simply select the und with the target year that mostclosely matches your anticipated date o retirement.Your und will automatically be rebalanced, and your riskexposure will gradually be reduced as you get closer toretirement. Putnam Retirement Income Fund Liestyle 1†is designed or participants who are in or near retirement.Each und is designed to be used as a single-choiceapproach to diversication and generally should not beused in combination with a retirement plan’s other undoptions. RetirementReady Funds can also be used withinIRA accounts and other tax-advantaged plans. The prin-cipal value o the unds is not guaranteed at any time,including the target year.
Underlin Putnam fund
RetirementReady Funds allocate your retirementsavings across a series o underlying unds basedon your targeted retirement date.
Putnam Asset Allocation: Equit Portfolio
Putnam Asset Allocation: growth Portfolio
Putnam Asset Allocation: Balanced Portfolio
Putnam Asset Allocation: Conservative Portfolio
Putnam Mone Market Fund*
Putnam Absolute Return 700 Fund
Putnam Absolute Return 500 Fund
Putnam Absolute Return 300 Fund
Putnam Absolute Return 100 Fund
Asset class weihtinFixed IncomeEquit
The unds gradually shit rom aggressive, higher-riskinvestments toward more conservative, lower-riskinvestments as retirement approaches.
Absolute return fund investmentsTraditional fund investments
Putnam Absolute Return Funds represent an increasinglygreater portion o the portolios over time, and aredesigned to seek to protect against volatility andthe harmul eects o adverse investment returns.
Equity and xed-income allocations are
estimates based on strategic allocations to equity and xed income o each Putnam Asset AllocationFund set orth in its prospectus, and the assumptions that Putnam Money Market Fund, Putnam Absolute Return 100 Fund, and Putnam Absolute Return300 Fund are equivalent to xed income, Putnam Absolute Return 500 Fund is equivalent to 50% xed income/50% equity; and Putnam Absolute Return700 Fund is equivalent to equity. Actual allocations will vary.
Because o rounding in the calculation o allocations among underlying Putnam unds, actual allocations may be more or less than these percentages and total portolio percentages may be more or less than 100%.
Mone market funds are not insured or uaranteed b the Federal Deposit Insurance Corporation (FDIC) or an otherovernmental aenc. Althouh a mone market fund seeks to preserve the value of our investment at $1.00 per share,it is possible to lose mone b investin in this fund.
Putnam RetirementReady Maturity Fund was renamed Putnam Retirement Income Fund Liestyle 1 on June 16, 2011.