# EDGAR Filing Document

**Accession Number:** 0001005942
**File Stem:** 0001752724-25-213654
**Filing Date:** 2025-9
**Character Count:** 135339
**Document Hash:** facdc7f09eb3c4648af70ec92d86c29b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-213654.hdr.sgml**: 20250910

**ACCESSION NUMBER**: 0001752724-25-213654

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250910

**DATE AS OF CHANGE**: 20250910

**EFFECTIVENESS DATE**: 20250910

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001005942

**ORGANIZATION NAME:**
- **EIN:** 043299786
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07513
- **FILM NUMBER:** 251305153

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6177601000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

## Series and Classes Contracts Data

### Putnam International Value Fund (Series ID: S000000775)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000002290 | Class Y shares |  |
| C000002291 | Class A shares | PNGAX           |
| C000002292 | Class B shares | PGNBX           |
| C000002293 | Class C shares | PIGRX           |
| C000002295 | Class R shares | PIIRX           |
| C000136806 | Class R6       |  |

### Putnam Small Cap Growth Fund (Series ID: S000000777)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000002301 | Class C shares  |  |
| C000002302 | Class Y shares  |  |
| C000002303 | Class A shares  | PNSAX           |
| C000002304 | Class B shares  | PNSBX           |
| C000002306 | Class R shares  | PSGRX           |
| C000158897 | Class R6 Shares |  |

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Putnam Funds Trust and Shareholders of Putnam
Small Cap Growth Fund:

In planning and performing our audit of the financial statements of Putnam
Small Cap Growth Fund (one of the funds constituting Putnam Funds Trust,
referred to hereafter as the "Fund") as of and for the year ended June 30,
2025, in accordance with the standards of the Public Company Accounting
Oversight Board (United States) (PCAOB), we considered the Fund's internal
control over financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for the purpose
of expressing our opinion on the financial statements and to comply with the
requirements of Form N-CEN, but not for the purpose of expressing an opinion
on the effectiveness of the Fund's internal control over financial reporting.
Accordingly, we do not express an opinion on the effectiveness of the Fund's
internal control over financial reporting.

The management of the Fund is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A company's internal
control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles. A company's internal control over financial
reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded as necessary
to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the
company are being made only in accordance with authorizations of management
and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition
of a company's assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation
of effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees,
in the normal course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A material weakness is a deficiency,
or a combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a material
misstatement of the company's annual or interim financial statements will not
be prevented or detected on a timely basis.

Our consideration of the Fund's internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control over financial
reporting that might be material weaknesses under standards established by the
PCAOB. However, we noted no deficiencies in the Fund's internal control over
financial reporting and its operation, including controls over safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 2025.

This report is intended solely for the information and use of the Board of
Trustees of Putnam Funds Trust and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than these
specified parties.

/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
August 19, 2025

```

## Internal

```

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Putnam Funds Trust and Shareholders of Putnam
International Value Fund:

In planning and performing our audit of the financial statements of Putnam
International Value Fund (one of the funds constituting Putnam Funds Trust,
referred to hereafter as the "Fund") as of and for the year ended June 30,
2025, in accordance with the standards of the Public Company Accounting
Oversight Board (United States) (PCAOB), we considered the Fund's internal
control over financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for the purpose
of expressing our opinion on the financial statements and to comply with the
requirements of Form N-CEN, but not for the purpose of expressing an opinion
on the effectiveness of the Fund's internal control over financial reporting.
Accordingly, we do not express an opinion on the effectiveness of the Fund's
internal control over financial reporting.

The management of the Fund is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A company's internal
control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles. A company's internal control over financial
reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded as necessary
to permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the
company are being made only in accordance with authorizations of management
and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition
of a company's assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation
of effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees, in
the normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting,
such that there is a reasonable possibility that a material misstatement of
the company's annual or interim financial statements will not be prevented or
detected on a timely basis.

Our consideration of the Fund's internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control over financial
reporting that might be material weaknesses under standards established by the
PCAOB. However, we noted no deficiencies in the Fund's internal control over
financial reporting and its operation, including controls over safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 2025.

This report is intended solely for the information and use of the Board of
Trustees of Putnam Funds Trust and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than these
specified parties.

/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
August 19, 2025

```

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001005942

## N-CEN: Series/Class (Contract) Information

**Series ID Record:1**
- **Series ID:** S000000777

**Series ID Record:2**
- **Series ID:** S000000775

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-06-30

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Putnam Funds Trust

- **Item B.1.b - Investment Company Act file number:** 811-07513

- **Item B.1.c - CIK:** 0001005942

- **Item B.1.d - LEI:** 549300S9JYWEMKQCLW53

- **Item B.2.a - Street 1:** 100 FEDERAL STREET

- **Item B.2.b - City:** BOSTON

- **Item B.2.c - State:** MA

- **Item B.2.e - Zip Code:** 02110

- **Item B.2.f - Telephone:** 1-800-225-1581

- **Item B.2.g - Public Website:** WWW.FRANKLINTEMPLETON.COM

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** Franklin Advisers, Inc.

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 390 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-464-1909

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Custodian

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Investment Management Limited

- **b. Street 1:** Cannon Place

- **Street 2:** 78 Cannon Street

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** EC4N 6HL

- **g. Telephone number:** 44-20-7073-8500

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Investment manager

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, N.A.

- **b. Street 1:** 380 Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 212-270-6000

- **h. Briefly describe the books and records kept at this location:** Records relating to its functions as Sub-Administrator and Fund Accounting Agent

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** 2 AVENUE DE LAFAYETTE

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02111

- **g. Telephone number:** 1-617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Putnam Retail Management Limited Partnership

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-800-225-1581

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Services, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Administrative manager

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Putnam Investor Services, Inc.

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-800-225-1581

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** The Putnam Advisory Company, LLC

- **b. Street 1:** 100 Federal Street

- **c. City:** Boston

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-800-225-1581

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** Putnam Investment Management, LLC

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-800-225-1581

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 11**

- **a. Name of person (e.g., a custodian of records):** Michael J. Higgins

- **b. Street 1:** 100 FEDERAL STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-800-225-1581

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

**Location books Record: 12**

- **a. Name of person (e.g., a custodian of records):** Franklin Distributors, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 650-312-2000

- **h. Briefly describe the books and records kept at this location:** Records related to its functions as Principal underwriter

**Location books Record: 13**

- **a. Name of person (e.g., a custodian of records):** State Street Bank and Trust Company

- **b. Street 1:** 225 FRANKLIN STREET

- **c. City:** BOSTON

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 02110

- **g. Telephone number:** 1-617-786-3000

- **h. Briefly describe the books and records kept at this location:** Records include accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the Rules promulgated thereunder

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Putnam Family of Funds

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 16

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                     | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|:---|:---|:---|
| Jane E. Trust            | Yes                     | 811-02608, 811-04528, 811-07920, 811-23408, 811-04524, 811-22546, 811-06444, 811-21343, 811-22444, 811-07121, 811-05977, 811-06506, 811-05497, 811-05740, 811-10603, 811-02742, 811-21477, 811-08709, 811-06740, 811-04345, 811-05498, 811-07237, 811-03386, 811-21128, 811-04527, 811-07626, 811-06128, 811-22334, 811-06629, 811-04254, 811-02280, 811-01403, 811-05452, 811-02675, 811-22491, 811-22294, 811-22338, 811-05802, 811-03897, 811-23643, 811-06310, 811-05346, 811-10407, 811-06110, 811-21403, 811-00058, 811-04616, 811-05635, 811-22369, 811-00653, 811-06190, 811-04518, 811-21467, 811-02351, 811-21337, 811-03630, 811-03741, 811-04052 |
| Jennifer Williams Murphy | No                      | 811-04345, 811-00058, 811-04528, 811-03741, 811-05452, 811-05635, 811-02742, 811-03630, 811-00653, 811-07121, 811-04527, 811-06190, 811-01403, 811-07237, 811-04518, 811-03897, 811-02675, 811-23643, 811-07626, 811-04616, 811-05802, 811-05498, 811-04524, 811-03386, 811-02280, 811-06128, 811-02608, 811-05346, 811-05740, 811-05977                                                                                                                                                                                                                                                                                                                     |
| Katinka Domotorffy       | No                      | 811-23643, 811-03386, 811-05802, 811-03630, 811-03741, 811-02608, 811-00653, 811-06190, 811-06128, 811-07626, 811-04527, 811-04528, 811-02742, 811-05452, 811-01403, 811-05635, 811-02675, 811-05977, 811-05740, 811-07121, 811-03897, 811-04518, 811-00058, 811-05498, 811-04524, 811-04616, 811-04345, 811-02280, 811-07237, 811-05346                                                                                                                                                                                                                                                                                                                     |
| Catharine Bond Hill      | No                      | 811-06128, 811-03741, 811-05635, 811-04518, 811-05740, 811-05346, 811-05802, 811-03386, 811-05452, 811-03897, 811-02675, 811-03630, 811-00653, 811-04528, 811-05977, 811-02742, 811-00058, 811-04527, 811-04345, 811-23643, 811-01403, 811-07237, 811-07121, 811-06190, 811-04616, 811-05498, 811-02608, 811-07626, 811-04524, 811-02280                                                                                                                                                                                                                                                                                                                     |
| Liaquat Ahamed           | No                      | 811-03630, 811-04527, 811-07626, 811-05346, 811-02675, 811-00058, 811-07121, 811-04528, 811-02742, 811-05740, 811-07237, 811-04518, 811-06128, 811-02280, 811-01403, 811-05635, 811-02608, 811-03386, 811-05802, 811-05498, 811-03741, 811-23643, 811-04345, 811-04616, 811-00653, 811-06190, 811-05977, 811-03897, 811-05452, 811-04524                                                                                                                                                                                                                                                                                                                     |
| Gregory G. McGreevey     | No                      | 811-04528, 811-04345, 811-05977, 811-04518, 811-05635, 811-07626, 811-04524, 811-03897, 811-04527, 811-05498, 811-06128, 811-02280, 811-05802, 811-05452, 811-06190, 811-23643, 811-05346, 811-07237, 811-05740, 811-00653, 811-03386, 811-07121, 811-02742, 811-04616, 811-02675, 811-01403, 811-00058, 811-02608, 811-03630, 811-03741                                                                                                                                                                                                                                                                                                                     |
| Manoj P. Singh           | No                      | 811-06190, 811-02280, 811-04518, 811-00058, 811-02742, 811-05740, 811-04527, 811-00653, 811-04528, 811-02608, 811-07626, 811-03741, 811-03630, 811-05452, 811-04616, 811-03386, 811-05802, 811-05977, 811-07121, 811-04345, 811-01403, 811-05498, 811-05346, 811-23643, 811-02675, 811-04524, 811-06128, 811-05635, 811-03897, 811-07237                                                                                                                                                                                                                                                                                                                     |
| George Putnam III        | No                      | 811-06128, 811-03741, 811-04616, 811-23643, 811-05346, 811-06190, 811-01403, 811-04528, 811-03897, 811-04527, 811-02675, 811-05452, 811-03386, 811-07237, 811-04524, 811-05740, 811-04345, 811-05977, 811-05635, 811-05802, 811-02742, 811-04518, 811-00058, 811-02608, 811-07121, 811-07626, 811-02280, 811-00653, 811-05498, 811-03630                                                                                                                                                                                                                                                                                                                     |
| Mona K. Sutphen          | No                      | 811-05740, 811-04518, 811-03897, 811-23643, 811-04345, 811-04527, 811-05635, 811-02608, 811-00058, 811-03386, 811-04524, 811-03741, 811-00653, 811-06128, 811-05452, 811-04616, 811-05977, 811-07121, 811-05346, 811-02675, 811-07237, 811-03630, 811-04528, 811-01403, 811-02742, 811-05498, 811-02280, 811-06190, 811-07626, 811-05802                                                                                                                                                                                                                                                                                                                     |
| Robert L. Reynolds       | Yes                     | 811-05635, 811-07626, 811-03630, 811-00058, 811-02675, 811-05977, 811-02280, 811-06128, 811-03897, 811-23643, 811-07237, 811-05346, 811-07121, 811-01403, 811-06190, 811-02608, 811-00653, 811-04528, 811-04345, 811-04518, 811-04527, 811-05802, 811-03741, 811-02742, 811-05498, 811-04524, 811-05452, 811-04616, 811-03386, 811-05740                                                                                                                                                                                                                                                                                                                     |
| Marie Pillai             | No                      | 811-05740, 811-04345, 811-02675, 811-03386, 811-03897, 811-05635, 811-05498, 811-00058, 811-04616, 811-02742, 811-04527, 811-23643, 811-04524, 811-02280, 811-07121, 811-07626, 811-01403, 811-03741, 811-06190, 811-04518, 811-00653, 811-03630, 811-05802, 811-07237, 811-05977, 811-04528, 811-02608, 811-06128, 811-05452, 811-05346                                                                                                                                                                                                                                                                                                                     |
| Barbara M. Baumann       | No                      | 811-04524, 811-06128, 811-01403, 811-03741, 811-04616, 811-05802, 811-05740, 811-05635, 811-02280, 811-23643, 811-07237, 811-00058, 811-03386, 811-07626, 811-04345, 811-04518, 811-04527, 811-02742, 811-03630, 811-05346, 811-05977, 811-00653, 811-02675, 811-07121, 811-06190, 811-03897, 811-02608, 811-05452, 811-05498, 811-04528                                                                                                                                                                                                                                                                                                                     |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** James F. Clark

- **b. CRD Number, if any:** N/A

- **c. Street Address 1:** 100 FEDERAL STREET

- **d. City:** BOSTON

- **e. State, if applicable:** MA

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 02110

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-25271
  - IC-20851

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Putnam Retail Management Limited Partnership

- **ii. SEC file number:** 8-5088

- **iii. CRD number:** 000007325

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

**Principal underwriter Record: 2**

- **i. Full name:** Franklin Distributors, LLC

- **ii. SEC file number:** 8-5889

- **iii. CRD number:** 000000332

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** Yes

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PricewaterhouseCoopers LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** MA

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Putnam Small Cap Growth Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Putnam Small Cap Growth Fund

- **b. Series identification number, if any:** S000000777

- **c. LEI:** 549300T15YU3PSQ6QC72

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 1

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class                 | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | PUTNAM SMALL CAP GROWTH CL A          | C000002303                                | PNSAX                        |
|                           2 | PUTNAM SMALL CAP GROWTH CLASS R       | C000002306                                | PSGRX                        |
|                           3 | PUTNAM SMALL CAP GROWTH FUND CLASS R6 | C000158897                                | PLKGX                        |
|                           4 | PUTNAM SMALL CAP GROWTH CL Y          | C000002302                                | PSYGX                        |
|                           5 | PUTNAM SMALL CAP GROWTH CL C          | C000002301                                | PNSCX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $120,069,087.60

- **g. Provide the net income from securities lending activities:** $402,408.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(d)(i) (17 CFR 270.18f-4(d)(i))

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 12d1-4 (17 CFR 270.12d1-4)

- Rule 17a-6 (17 CFR 270.17a-6)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** No

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Sub-adviser Record: 2**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. Is the sub-adviser an affiliated person?:** Yes

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. SEC file number:** 84-06331

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $289,633.59

**Brokers Record: 2**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $103,489.54

**Brokers Record: 3**

- **i. Full name of broker:** Raymond James & Associates, Inc.

- **ii. SEC file number:** 8-10999

- **iii. CRD number:** 000000705

- **iv. LEI, if any:** U4ONQX15J3RO8XCKE979

- **v. State, if applicable:** FL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $232,795.56

**Brokers Record: 4**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $403,622.25

**Brokers Record: 5**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $522,931.74

**Brokers Record: 6**

- **i. Full name of broker:** Piper Sandler & Co.

- **ii. SEC file number:** 8-15204

- **iii. CRD number:** 000000665

- **iv. LEI, if any:** 549300GRQCWQ3XGH0H10

- **v. State, if applicable:** MN

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $156,918.95

**Brokers Record: 7**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $306,115.69

**Brokers Record: 8**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $102,117.09

**Brokers Record: 9**

- **i. Full name of broker:** Stifel, Nicolaus & Company, Incorporated

- **ii. SEC file number:** 8-01447

- **iii. CRD number:** 000000793

- **iv. LEI, if any:** 5WUVMA08EYG4KEUPW589

- **v. State, if applicable:** MO

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $180,674.94

**Brokers Record: 10**

- **i. Full name of broker:** William Blair & Company, L.L.C.

- **ii. SEC file number:** 8-02698

- **iii. CRD number:** 000001252

- **iv. LEI, if any:** 549300J0P7XYE8BMZ775

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $110,487.48

**Aggregate Commission:** $2,795,505.98

**Item C.17.a. Principal transaction counterparties.**

| Name                               | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| RBC Capital Markets, LLC           | 8-45411           |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $301,895.87               |
| J.P. Morgan Securities LLC         | 8-35008           |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $5,478,554.13             |
| ROBERT W. BAIRD & CO. INCORPORATED | 8-00497           |    000008158 | 549300772UJAHRD6LO53 | WI      | US        | $6,712,821.50             |
| Goldman Sachs & Co. LLC            | 8-00129           |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $4,529,240.00             |
| Jefferies LLC                      | 8-15074           |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $398,160.00               |
| BofA Securities, Inc.              | 8-69787           |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $3,367,658.00             |
| Morgan Stanley & Co. LLC           | 8-15869           |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $3,370,015.00             |
| Citigroup Global Markets Inc.      | 8-08177           |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $4,167,162.25             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $28,325,506.75

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $2,729,935,957.60

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 2 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 4 Name of institution:** DEUTSCHE BANK SECURITIES INC.

  - **Line Institutions Record: 5 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 6 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 8 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 10 Name of institution:** CITIBANK, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Putnam Research Fund                                                                          | 811-07237         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Franklin Income Fund                                                                          | 811-00537         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Templeton International Bond Fund                                                             | 811-04706         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| International Equity Series                                                                   | 811-06135         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Putnam Income Fund                                                                            | 811-00653         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Putnam International Value Fund                                                               | 811-07513         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Putnam International Equity Fund                                                              | 811-06190         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Templeton World Fund                                                                          | 811-02781         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 2 - Putnam International Value Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Putnam International Value Fund

- **b. Series identification number, if any:** S000000775

- **c. LEI:** 549300T765IPHEB3OK03

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 5

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 1

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class                 | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | PUTNAM INTERNATIONAL VALUE FUND CL R6 | C000136806                                | PIGWX                        |
|                           2 | PUTNAM INTERNATIONAL VALUE FUND CL A  | C000002291                                | PNGAX                        |
|                           3 | PUTNAM INTERNATIONAL VALUE FUND CL Y  | C000002290                                | PNGYX                        |
|                           4 | PUTNAM INTERNATIONAL VALUE FUND CL R  | C000002295                                | PIIRX                        |
|                           5 | PUTNAM INTERNATIONAL VALUE FUND CL C  | C000002293                                | PIGRX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **b. Did the Fund lend any of its securities during the reporting period?** Yes

  - **i. If yes, during the reporting period, did any borrower fail to return the loaned securities by the contractual deadline with the result that:**

    - **1. The Fund (or it securities lending agent) liquidated collateral pledged to secure the loaned securities?** No

    - **2. The Fund was otherwise adversely impacted?** No

**c. Provide the information requested below about each securities lending agent, if any, retained by the Fund:**

**Securities Lending Record: 1**

- **i. Full name of securities lending agent:** Goldman Sachs Bank USA

- **ii. LEI, if any:** KD3XUN7C6T14HNAYLU02

- **iii. Is the securities lending agent an affiliated person...?** No

- **iv. Does the securities lending agent... indemnify the Fund against borrower default?** Yes

- **v. If the entity providing the indemnification is not the securities lending agent, provide the following information:**

  **Idemnity Providers Record: 1**

  - **1. Name of person providing indemnification:** —

  - **2. LEI, if any:** —

- **vi. Did the Fund exercise its indemnification rights during the reporting period?** No

**d. If a person providing cash collateral management services to the Fund in connection with the Fund's securities lending activities does not also serve as securities lending agent, provide the following information about each cash collateral manager:**

**Collateral Managers Record: 1**

- **i. Full name of cash collateral manager:** Franklin Advisers, Inc.

- **ii. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **iii. Is the cash collateral manager an affiliated person, or an affiliated person of an affiliated person, of a securities lending agent retained by the Fund??** No

- **iv. Is the cash collateral manager an affiliated person of the Fund?** Yes

**e. Types of payments made to one or more securities lending agents and cash collateral managers (check all that apply):**

- [x] Revenue sharing split

- [ ] Fee-based revenue split (other than administrative fee)

- [ ] Administrative fee

- [ ] Cash collateral reinvestment fee

- [ ] Indemnification fee

- [ ] Other

- [ ] N/A

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** $17,861.96

- **g. Provide the net income from securities lending activities:** $981.00

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 12d1-4 (17 CFR 270.12d1-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 17a-6 (17 CFR 270.17a-6)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Putnam Investment Management, LLC

- **ii. SEC file number:** 801-7974

- **iii. CRD number:** 000106629

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MA

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Franklin Advisers, Inc.

- **ii. SEC file number:** 801-26292

- **iii. CRD number:** 000104517

- **iv. LEI, if any:** B1CG1NRZIDDJ0DQEXB52

- **v. Is the sub-adviser an affiliated person?:** Yes

**Sub-adviser Record: 2**

- **i. Full name:** Franklin Templeton Investment Management Limited

- **ii. SEC file number:** 801-55170

- **iii. CRD number:** 000111360

- **iv. LEI, if any:** MLH7B1BVFWXZVST01715

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

**Sub-adviser Record: 3**

- **i. Full name:** The Putnam Advisory Company, LLC

- **ii. SEC file number:** 801-5097

- **iii. CRD number:** 000106631

- **iv. LEI, if any:** N/A

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. SEC file number:** 84-06331

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **Description of other identifying number:** LEI Number

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** State Street Bank and Trust Company

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

**Custodians Record: 2**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** Yes

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Putnam Investor Services, Inc.

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** JPMorgan Chase Bank, N.A.

- **ii. LEI, if any, or other identifying number:** 7H6GLXDRUGQFU57RNE97

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** Yes

**Administrators Record: 2**

- **i. Full name:** FRANKLIN TEMPLETON SERVICES, LLC

- **ii. LEI, if any, or other identifying number:** 549300DFD0POOJZ42788

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** Yes

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 8-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $82,200.35

**Brokers Record: 2**

- **i. Full name of broker:** Goldman Sachs & Co. LLC

- **ii. SEC file number:** 8-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $192,589.73

**Brokers Record: 3**

- **i. Full name of broker:** Daiwa Capital Markets America Inc.

- **ii. SEC file number:** 8-12242

- **iii. CRD number:** 000001576

- **iv. LEI, if any:** M67H5PRC0NQKM73ZAS82

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $15,834.01

**Brokers Record: 4**

- **i. Full name of broker:** Morgan Stanley & Co. LLC

- **ii. SEC file number:** 8-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $12,164.64

**Brokers Record: 5**

- **i. Full name of broker:** Jefferies LLC

- **ii. SEC file number:** 8-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $25,748.88

**Brokers Record: 6**

- **i. Full name of broker:** Barclays Capital, Inc.

- **ii. SEC file number:** 8-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $59,950.46

**Brokers Record: 7**

- **i. Full name of broker:** BofA Securities, Inc.

- **ii. SEC file number:** 8-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $58,489.55

**Brokers Record: 8**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 8-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $85,024.04

**Brokers Record: 9**

- **i. Full name of broker:** Citigroup Global Markets Inc.

- **ii. SEC file number:** 8-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $86,302.44

**Brokers Record: 10**

- **i. Full name of broker:** RBC Capital Markets, LLC

- **ii. SEC file number:** 8-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $16,774.90

**Aggregate Commission:** $660,653.60

**Item C.17.a. Principal transaction counterparties.**

| Name                                  | SEC file number   | CRD number   | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|:---|:---|:---|:---|:---|
| Nomura Securities International, Inc. | 8-15255           | 000004297    | OXTKY6Q8X53C9ILVV871 | NY      | US        | $197,315.92               |
| J.P. Morgan Securities LLC            | 8-35008           | 000000079    | ZBUT11V806EZRVTWT807 | NY      | US        | $1,572,544.03             |
| Goldman Sachs & Co. LLC               | 8-00129           | 000000361    | FOR8UP27PHTHYVLBNG30 | NY      | US        | $296,332.78               |
| Barclays Capital, Inc.                | 8-41342           | 000019714    | AC28XWWI3WIBK2824319 | NY      | US        | $1,579,137.89             |
| BMO Capital Markets Corp.             | 8-34344           | 000016686    | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $5,245,157.02             |
| Bank of Montreal                      | N/A               | N/A          | NQQ6HPCNCCU6TUTQYE16 |  |  | $97,949.44                |
| Morgan Stanley & Co. LLC              | 8-15869           | 000008209    | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $1,184,205.61             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $10,172,642.69

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** Yes

- **Item C.19.a - Fund's monthly average net assets:** $528,727,086.58

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 2 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH

  - **Line Institutions Record: 3 Name of institution:** MORGAN STANLEY SENIOR FUNDING, INC.

  - **Line Institutions Record: 4 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 5 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 6 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 8 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK SECURITIES INC.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                                                  | SEC File number   |
|:---|:---|
| Western Asset Ultra-Short Income Fund                                                         | 811-04254         |
| Franklin Corefolio Allocation Fund                                                            | 811-07851         |
| Western Asset SMASh Series M Fund                                                             | 811-06740         |
| Putnam Dynamic Asset Allocation Growth Fund                                                   | 811-07121         |
| Franklin Oregon Tax-Free Income Fund                                                          | 811-04149         |
| Franklin Income Fund                                                                          | 811-00537         |
| Franklin Large Cap Growth VIP Fund                                                            | 811-05583         |
| ClearBridge Mid Cap Growth Fund                                                               | 811-06444         |
| Putnam Floating Rate Income Fund                                                              | 811-07513         |
| Franklin Global Equity Fund                                                                   | 811-06444         |
| Putnam Strategic Intermediate Municipal Fund                                                  | 811-04345         |
| Franklin LifeSmart 2045 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Large Cap Growth Fund                                                             | 811-06444         |
| Franklin Louisiana Tax-Free Income Fund                                                       | 811-04149         |
| ClearBridge International Value Fund                                                          | 811-06444         |
| Martin Currie Emerging Markets Fund                                                           | 811-22338         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund)                        | 811-07513         |
| Templeton Foreign Fund                                                                        | 811-02781         |
| Franklin Multi-Asset Growth Fund                                                              | 811-06444         |
| Franklin California Tax-Free Income Fund                                                      | 811-02790         |
| Franklin New Jersey Tax-Free Income Fund                                                      | 811-04149         |
| Putnam VT Core Equity Fund (f/k/a Putnam VT Multi-Cap Core Fund)                              | 811-05346         |
| Putnam Pennsylvania Tax Exempt Income Fund                                                    | 811-05802         |
| Franklin High Yield Corporate ETF                                                             | 811-23124         |
| Western Asset Total Return Unconstrained Fund                                                 | 811-06110         |
| Western Asset Intermediate Maturity California Municipals Fund                                | 811-04254         |
| ClearBridge Small Cap Fund                                                                    | 811-22338         |
| Franklin International Growth Fund                                                            | 811-10157         |
| Franklin Mutual Small-Mid Cap Value Fund                                                      | 811-05878         |
| Franklin LifeSmart 2040 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Growth Fund                                                                       | 811-06444         |
| Franklin Mutual Shares Fund                                                                   | 811-05387         |
| Franklin Growth Allocation Fund                                                               | 811-07851         |
| Franklin LifeSmart 2050 Retirement Target Fund                                                | 811-07851         |
| Putnam ESG Ultra Short ETF                                                                    | 811-23643         |
| K2 Alternative Strategies Fund                                                                | 811-22641         |
| Putnam Focused Equity Fund                                                                    | 811-07513         |
| Franklin Federal Tax-Free Income Fund                                                         | 811-03395         |
| Franklin Michigan Tax-Free Income Fund                                                        | 811-04149         |
| Franklin U.S. Government Securities VIP Fund                                                  | 811-05583         |
| Franklin Federal Limited-Term Tax-Free Income Fund                                            | 811-04149         |
| Western Asset Short-Term Bond Fund                                                            | 811-04254         |
| Western Asset Short Duration Income ETF                                                       | 811-23096         |
| Putnam Tax-Free High Yield Fund                                                               | 811-04345         |
| Franklin Templeton Aggressive Model Portfolio                                                 | 811-21128         |
| Franklin Convertible Securities Fund                                                          | 811-04986         |
| Franklin DynaTech Fund                                                                        | 811-00537         |
| ClearBridge Variable Small Cap Growth Portfolio                                               | 811-21128         |
| Putnam Convertible Securities Fund                                                            | 811-02280         |
| ClearBridge Variable Large Cap Value Portfolio                                                | 811-21128         |
| Putnam VT Small Cap Value Fund                                                                | 811-05346         |
| Putnam Global Health Care Fund                                                                | 811-03386         |
| Putnam Sustainable Leaders ETF                                                                | 811-23643         |
| Franklin Multi-Asset Moderate Growth Fund                                                     | 811-06444         |
| Templeton World Fund                                                                          | 811-02781         |
| Franklin Rising Dividends Fund                                                                | 811-04894         |
| ClearBridge Variable Large Cap Growth Portfolio                                               | 811-21128         |
| Franklin Pennsylvania Tax-Free Income Fund                                                    | 811-04149         |
| Putnam International Capital Opportunities Fund                                               | 811-07237         |
| Franklin Low Duration U.S. Government Securities Fund                                         | 811-04986         |
| Putnam Massachusetts Tax Exempt Income Fund                                                   | 811-04518         |
| Putnam Short Duration Bond Fund                                                               | 811-07513         |
| Franklin LifeSmart Retirement Income Fund                                                     | 811-07851         |
| Putnam California Tax Exempt Income Fund                                                      | 811-03630         |
| Franklin DynaTech VIP Fund                                                                    | 811-05583         |
| Putnam Dynamic Asset Allocation Equity Fund                                                   | 811-07513         |
| Franklin Multi-Asset Conservative Growth Fund                                                 | 811-06444         |
| Putnam Sustainable Leaders Fund                                                               | 811-06128         |
| Franklin S&P 500 Index Fund                                                                   | 811-06444         |
| Franklin Conservative Allocation Fund                                                         | 811-07851         |
| Putnam Money Market Fund                                                                      | 811-02608         |
| Putnam Minnesota Tax Exempt Income Fund                                                       | 811-04527         |
| Putnam New York Tax Exempt Income Fund                                                        | 811-03741         |
| Templeton Growth VIP Fund                                                                     | 811-05583         |
| Franklin Moderate Allocation Fund                                                             | 811-07851         |
| Franklin Georgia Tax-Free Income Fund                                                         | 811-04149         |
| Putnam VT Large Cap Growth Fund (f/k/a Putnam VT Growth Opportunities Fund)                   | 811-05346         |
| Franklin New York Intermediate-Term Tax-Free Income Fund                                      | 811-04787         |
| Western Asset Short Duration High Income Fund                                                 | 811-04254         |
| Putnam VT International Value Fund                                                            | 811-05346         |
| BrandywineGLOBAL - Flexible Bond Fund                                                         | 811-22338         |
| Western Asset Core Plus Bond Fund                                                             | 811-06110         |
| Western Asset Oregon Municipals Fund                                                          | 811-04254         |
| Putnam VT Sustainable Leaders Fund                                                            | 811-05346         |
| Putnam VT Global Asset Allocation Fund                                                        | 811-05346         |
| Franklin Mutual Global Discovery VIP Fund                                                     | 811-05583         |
| ClearBridge International Growth Fund                                                         | 811-22338         |
| Putnam Mortgage Opportunities Fund                                                            | 811-07513         |
| Western Asset Core Plus VIT Portfolio                                                         | 811-06310         |
| Franklin Managed Income Fund                                                                  | 811-04986         |
| ClearBridge Dividend Strategy Fund                                                            | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                                                    | 811-06444         |
| Franklin LifeSmart 2020 Retirement Target Fund                                                | 811-07851         |
| Western Asset SMASh Series TF Fund                                                            | 811-06740         |
| Franklin Equity Income Fund                                                                   | 811-04986         |
| Templeton Global Bond Fund                                                                    | 811-04706         |
| Western Asset SMASh Series Core Completion Fund                                               | 811-06740         |
| Putnam New Jersey Tax Exempt Income Fund                                                      | 811-05977         |
| Putnam Ultra Short Duration Income Fund                                                       | 811-07513         |
| Franklin California Intermediate-Term Tax-Free Income Fund                                    | 811-04356         |
| ClearBridge Sustainability Leaders Fund                                                       | 811-06444         |
| Franklin Mutual International Value Fund                                                      | 811-05387         |
| Western Asset Bond ETF                                                                        | 811-23124         |
| Western Asset Inflation Indexed Plus Bond Fund                                                | 811-06110         |
| Franklin Strategic Income VIP Fund                                                            | 811-05583         |
| Putnam VT Mortgage Securities Fund                                                            | 811-05346         |
| Franklin Mutual Quest Fund                                                                    | 811-05387         |
| Western Asset Short Duration Municipal Income Fund                                            | 811-04254         |
| Franklin Small-Mid Cap Growth Fund                                                            | 811-06243         |
| Putnam Global Technology Fund                                                                 | 811-07513         |
| Templeton Foreign VIP Fund                                                                    | 811-05583         |
| Putnam VT Research Fund                                                                       | 811-05346         |
| Franklin Growth Opportunities Fund                                                            | 811-06243         |
| Putnam Emerging Markets Equity Fund                                                           | 811-07513         |
| Western Asset High Yield Fund                                                                 | 811-06110         |
| Franklin Long Duration Credit Fund                                                            | 811-04986         |
| Franklin Alabama Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset Managed Municipals Fund                                                         | 811-04254         |
| Franklin LifeSmart 2030 Retirement Target Fund                                                | 811-07851         |
| Franklin Rising Dividends VIP Fund                                                            | 811-05583         |
| Franklin Floating Rate Master Series                                                          | 811-09869         |
| Putnam Emerging Markets Ex-China ETF                                                          | 811-23643         |
| Franklin Mutual U.S. Mid Cap Value Fund                                                       | 811-05878         |
| Franklin LifeSmart 2025 Retirement Target Fund                                                | 811-07851         |
| Franklin Small Cap Growth Fund                                                                | 811-06243         |
| Putnam Small Cap Growth Fund                                                                  | 811-07513         |
| Franklin Core Plus Bond Fund                                                                  | 811-06243         |
| Putnam Sustainable Future Fund                                                                | 811-07237         |
| Western Asset Long Credit VIT                                                                 | 811-06310         |
| Templeton Global Bond VIP Fund                                                                | 811-05583         |
| Franklin North Carolina Tax-Free Income Fund                                                  | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                                                           | 811-06444         |
| ClearBridge Variable Dividend Strategy Portfolio                                              | 811-21128         |
| Putnam Dynamic Asset Allocation Conservative Fund                                             | 811-07121         |
| Putnam Income Fund                                                                            | 811-00653         |
| Putnam Mortgage Securities Fund                                                               | 811-03897         |
| Western Asset Total Return ETF                                                                | 811-23096         |
| Franklin Templeton SMACS:  Series CH                                                          | 811-06243         |
| Putnam BDC Income ETF                                                                         | 811-23643         |
| Western Asset Massachusetts Municipals Fund                                                   | 811-04254         |
| Franklin Missouri Tax-Free Income Fund                                                        | 811-04149         |
| Western Asset SMASh Series Core Plus Completion                                               | 811-06740         |
| Franklin Strategic Mortgage Portfolio                                                         | 811-07288         |
| Putnam VT Focused International Equity Fund                                                   | 811-05346         |
| Putnam Focused International Equity Fund                                                      | 811-01403         |
| Franklin Mutual Global Discovery Fund                                                         | 811-05387         |
| Putnam Sustainable Future ETF                                                                 | 811-23643         |
| Putnam High Yield Fund                                                                        | 811-04616         |
| Putnam Research Fund                                                                          | 811-07237         |
| Franklin Mutual Shares VIP Fund                                                               | 811-05583         |
| Franklin Templeton Moderately Conservative Model Portfolio                                    | 811-21128         |
| Putnam VT Global Health Care Fund                                                             | 811-05346         |
| Putnam Intermediate-Term Municipal Income Fund                                                | 811-07513         |
| ClearBridge Variable Appreciation Portfolio                                                   | 811-21128         |
| Franklin Low Duration Total Return Fund                                                       | 811-04986         |
| BrandywineGLOBAL - Global Opportuniites Bond Fund                                             | 811-22338         |
| Franklin VolSmart Allocation VIP Fund                                                         | 811-05583         |
| Putnam Government Money Market Fund                                                           | 811-07237         |
| International Equity Series                                                                   | 811-06135         |
| Templeton Growth Fund, Inc.                                                                   | 811-04892         |
| Foreign Smaller Companies Series                                                              | 811-06135         |
| Putnam PanAgora ESG International Equity ETF                                                  | 811-23643         |
| ClearBridge Small Cap Growth Fund                                                             | 811-06444         |
| Franklin Total Return Fund                                                                    | 811-04986         |
| Franklin U.S. Small Capitalization Equity Fund (fka QS U.S. Small Capitalization Equity Fund) | 811-22338         |
| Putnam VT Emerging Markets Equity Fund                                                        | 811-05346         |
| Templeton Developing Markets Trust                                                            | 811-06378         |
| Franklin Templeton Moderate Model Portfolio                                                   | 811-21128         |
| Franklin High Yield Tax-Free Income Fund                                                      | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Income VIP Fund                                                                      | 811-05583         |
| Putnam Global Income Trust                                                                    | 811-04524         |
| Franklin Global Allocation Fund                                                               | 811-07851         |
| Franklin Minnesota Tax-Free Income Fund                                                       | 811-04149         |
| Putnam Tax Exempt Income Fund                                                                 | 811-02675         |
| Western Asset Variable Global High Yield Bond Portfolio                                       | 811-06310         |
| Western Asset Core Bond Fund                                                                  | 811-06110         |
| Franklin Templeton SMACS:  Series H                                                           | 811-06243         |
| Putnam VT Income Fund                                                                         | 811-05346         |
| Franklin Ohio Tax-Free Income Fund                                                            | 811-04149         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                                       | 811-04149         |
| Franklin Small Cap Value Fund                                                                 | 811-05878         |
| BrandywineGLOBAL - Corporate Credit Fund                                                      | 811-06444         |
| George Putnam Balanced Fund                                                                   | 811-00058         |
| Franklin Allocation VIP Fund (f/k/a Franklin Founding Funds Allocation VIP Fund)              | 811-05583         |
| Putnam Large Cap Growth Fund (f/k/a Putnam Growth Opportunities Fund)                         | 811-07237         |
| Franklin Maryland Tax-Free Income Fund                                                        | 811-04149         |
| Franklin Growth and Income VIP Fund                                                           | 811-05583         |
| Franklin California High Yield Municipal Fund                                                 | 811-06481         |
| Franklin Small Cap Value VIP Fund                                                             | 811-05583         |
| Putnam Multi-Asset Income Fund                                                                | 811-07121         |
| Putnam Large Cap Value Fund                                                                   | 811-02742         |
| Franklin LifeSmart 2055 Retirement Target Fund                                                | 811-07851         |
| Putnam Dynamic Asset Allocation Balanced Fund                                                 | 811-07121         |
| ClearBridge Tactical Dividend Income Fund                                                     | 811-06444         |
| Franklin New York Tax-Free Income Fund                                                        | 811-03479         |
| Templeton Sustainable Emerging Markets Bond Fund                                              | 811-04706         |
| Putnam VT Large Cap Value Fund                                                                | 811-05346         |
| Franklin Real Estate Securities Fund                                                          | 811-08034         |
| Western Asset Corporate Bond Fund                                                             | 811-04254         |
| Western Asset Income Fund                                                                     | 811-04254         |
| Franklin Utilities Fund                                                                       | 811-00537         |
| Franklin Natural Resources Fund                                                               | 811-06243         |
| Western Asset Pennsylvania Municipals Fund                                                    | 811-04254         |
| Western Asset Municipal High Income Fund                                                      | 811-04254         |
| Putnam Diversified Income Trust                                                               | 811-05635         |
| Putnam VT Small Cap Growth Fund                                                               | 811-05346         |
| ClearBridge Appreciation Fund                                                                 | 811-06444         |
| ClearBridge Variable Growth Portfolio                                                         | 811-21128         |
| Putnam ESG Core Bond ETF                                                                      | 811-23643         |
| Western Asset California Municipals Fund                                                      | 811-04254         |
| Franklin LifeSmart 2060 Retirement Target Fund                                                | 811-07851         |
| Putnam VT Government Money Market Fund                                                        | 811-05346         |
| Putnam Focused Large Cap Growth ETF                                                           | 811-23643         |
| Putnam International Equity Fund                                                              | 811-06190         |
| Franklin Templeton SMACS:  Series I                                                           | 811-06243         |
| Western Asset Mortgage Total Return Fund                                                      | 811-04254         |
| Franklin Biotechnology Discovery Fund                                                         | 811-06243         |
| Templeton Global Balanced Fund                                                                | 811-08226         |
| Franklin Multi-Asset Variable Conservative Growth Fund                                        | 811-21128         |
| Putnam BioRevolution ETF                                                                      | 811-23643         |
| Franklin Templeton SMACS:  Series E                                                           | 811-06243         |
| Templeton Global Smaller Companies Fund                                                       | 811-03143         |
| ClearBridge Mid Cap Fund                                                                      | 811-06444         |
| Putnam Focused Large Cap Value ETF                                                            | 811-23643         |
| Templeton Global Total Return Fund                                                            | 811-04706         |
| Franklin Massachusetts Tax-Free Income Fund                                                   | 811-04149         |
| ClearBridge Value Fund                                                                        | 811-22338         |
| Franklin Emerging Market Debt Opportunities Fund                                              | 811-10157         |
| Franklin Arizona Tax-Free Income Fund                                                         | 811-04149         |
| Western Asset Intermediate Maturity New York Municipals Fund                                  | 811-04254         |
| BrandywineGLOBAL - Alternative Credit Fund                                                    | 811-22338         |
| Franklin Virginia Tax-Free Income Fund                                                        | 811-04149         |
| Putnam VT High Yield Fund                                                                     | 811-05346         |
| Franklin U.S. Government Securities Fund                                                      | 811-00537         |
| Putnam Ohio Tax Exempt Income Fund                                                            | 811-04528         |
| Franklin Templeton Moderately Aggressive Model Portfolio                                      | 811-21128         |
| Franklin Multi-Asset Variable Growth Fund                                                     | 811-21128         |
| Franklin International Equity Fund (fka QS International Equity Fund)                         | 811-22338         |
| Franklin Growth Fund                                                                          | 811-00537         |
| Franklin Global Real Estate VIP Fund                                                          | 811-05583         |
| Templeton Emerging Markets Small Cap Fund                                                     | 811-08226         |
| Franklin Senior Loan ETF                                                                      | 811-23124         |
| Putnam VT Sustainable Future Fund                                                             | 811-05346         |
| Western Asset SMASh Series C Fund                                                             | 811-06740         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund                                             | 811-22338         |
| Franklin High Income Fund                                                                     | 811-01608         |
| Western Asset Intermediate Bond Fund                                                          | 811-06110         |
| Putnam PanAgora ESG Emerging Markets Equity ETF                                               | 811-23643         |
| Putnam ESG High Yield ETF                                                                     | 811-23643         |
| Martin Currie SMASh Series EM Fund                                                            | 811-22338         |
| Franklin Mutual Beacon Fund                                                                   | 811-05387         |
| Western Asset Intermediate-Term Municipals Fund                                               | 811-04254         |
| Putnam Short-Term Municipal Income Fund                                                       | 811-07513         |
| BrandywineGLOBAL - High Yield Fund                                                            | 811-06444         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)                                    | 811-07513         |
| Franklin LifeSmart 2035 Retirement Target Fund                                                | 811-07851         |
| ClearBridge Select Fund                                                                       | 811-06444         |
| Putnam Small Cap Value Fund                                                                   | 811-07237         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                                        | 811-22338         |
| Franklin Floating Rate Daily Access Fund                                                      | 811-04986         |
| Franklin Templeton Conservative Model Portfolio                                               | 811-21128         |
| Franklin Connecticut Tax-Free Income Fund                                                     | 811-04149         |
| ClearBridge Global Infrastructure Income Fund                                                 | 811-22338         |
| Franklin Multi-Asset Variable Moderate Growth Fund                                            | 811-21128         |
| Templeton Developing Markets VIP Fund                                                         | 811-05583         |
| Templeton International Bond Fund                                                             | 811-04706         |
| ClearBridge Variable Mid Cap Portfolio                                                        | 811-21128         |
| Putnam VT George Putnam Balanced Fund                                                         | 811-05346         |
| Franklin Gold and Precious Metals Fund                                                        | 811-01700         |
| Western Asset New York Municipals Fund                                                        | 811-04254         |
| Putnam VT International Equity Fund                                                           | 811-05346         |
| Putnam Ultra Short MAC Series                                                                 | 811-07513         |
| Putnam VT Diversified Income Fund                                                             | 811-05346         |
| Western Asset New Jersey Municipals Fund                                                      | 811-04254         |
| ClearBridge Large Cap Value Fund                                                              | 811-06444         |
| Franklin Templeton SMACS:  Series EM                                                          | 811-08226         |
| Franklin Small-Mid Cap Growth VIP Fund                                                        | 811-05583         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Putnam Funds Trust

**Date:** 2025-06-30

**Signature:** Monica Krogh

**Title:** Assistant Treasurer