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Putnam Asia Pacific Equity Fund - Putnam Investments

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Statement of operations Six months ended 10/31/13 (Unaudited)<br />

INVESTMENT INCOME<br />

Dividends (net of foreign tax of $12,039) $125,144<br />

Interest (including interest income of $46 from investments in affiliated issuers) (Note 5) 47<br />

Total investment income 125,191<br />

EXPENSES<br />

Compensation of Manager (Note 2) 38,333<br />

Investor servicing fees (Note 2) 10,903<br />

Custodian fees (Note 2) 21,755<br />

Trustee compensation and expenses (Note 2) 297<br />

Distribution fees (Note 2) 12,819<br />

Administrative services (Note 2) 96<br />

Reports to shareholders 9,889<br />

Auditing and tax fees 27,467<br />

Other 1,622<br />

Fees waived and reimbursed by Manager (Note 2) (52,082)<br />

Total expenses 71,099<br />

Expense reduction (Note 2) (1,889)<br />

Net expenses 69,210<br />

Net investment income 55,981<br />

Net realized loss on investments (Notes 1 and 3) (154,774)<br />

Net realized loss on foreign currency transactions (Note 1) (17,017)<br />

Net realized gain on written options (Notes 1 and 3) 6,723<br />

Net unrealized appreciation of assets and liabilities in foreign currencies during the period 240<br />

Net unrealized appreciation of investments and written options during the period 127,657<br />

Net loss on investments (37,171)<br />

Net increase in net assets resulting from operations $18,810<br />

The accompanying notes are an integral part of these financial statements.<br />

30 <strong>Asia</strong> <strong>Pacific</strong> <strong>Equity</strong> <strong>Fund</strong>

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