PRMAX : Putnam RetirementReady Maturity Class A

Fund Summary

The investment seeks as high a rate of current income as Putnam Investment Management, LLC believes is consistent with preservation of capital. The fund employs an asset allocation strategy designed for investors who are already in retirement or who plan to retire (or otherwise begin withdrawing the invested funds) in the near future. It is designed to provide diversification among different asset classes by investing its assets in other Putnam mutual funds, referred to as underlying funds.