Putnam Multi-Cap Value Fund - Putnam Investments

Fund informationFounded over 75 years ago, Putnam Investments was built around the concept that a balancebetween risk and reward is the hallmark of a well-rounded financial program. We manage over100 funds across income, value, blend, growth, asset allocation, absolute return, and globalsector categories.Investment ManagerPutnam InvestmentManagement, LLCOne Post Office SquareBoston, MA 02109Investment Sub-ManagerPutnam Investments Limited57–59 St James’s StreetLondon, England SW1A 1LDMarketing ServicesPutnam Retail ManagementOne Post Office SquareBoston, MA 02109CustodianState Street Bankand Trust CompanyLegal CounselRopes & Gray LLPTrusteesJameson A. Baxter, ChairLiaquat AhamedRavi AkhouryBarbara M. BaumannCharles B. CurtisRobert J. DarrettaKatinka DomotorffyJohn A. HillPaul L. JoskowKenneth R. LeiblerRobert E. PattersonGeorge Putnam, IIIRobert L. ReynoldsW. Thomas StephensOfficersRobert L. ReynoldsPresidentJonathan S. HorwitzExecutive Vice President,Principal Executive Officer, andCompliance LiaisonSteven D. KrichmarVice President andPrincipal Financial OfficerRobert T. BurnsVice President andChief Legal OfficerRobert R. LeveilleVice President andChief Compliance OfficerMichael J. HigginsVice President, Treasurer,and ClerkJanet C. SmithVice President,Principal Accounting Officer,and Assistant TreasurerSusan G. MalloyVice President andAssistant TreasurerJames P. PappasVice PresidentMark C. TrenchardVice President andBSA Compliance OfficerNancy E. FlorekVice President, Director ofProxy Voting and CorporateGovernance, Assistant Clerk,and Associate TreasurerThis report is for the information of shareholders of Putnam Multi-Cap Value Fund. It may alsobe used as sales literature when preceded or accompanied by the current prospectus, the mostrecent copy of Putnam’s Quarterly Performance Summary, and Putnam’s Quarterly RankingSummary. For more recent performance, please visit putnam.com. Investors should carefullyconsider the investment objectives, risks, charges, and expenses of a fund, which are described inits prospectus. For this and other information or to request a prospectus or summary prospectus,call 1-800-225-1581 toll free. Please read the prospectus carefully before investing. The fund’sStatement of Additional Information contains additional information about the fund’s Trusteesand is available without charge upon request by calling 1-800-225-1581.