# EDGAR Filing Document

**Accession Number:** 0001005942
**File Stem:** 0000928816-23-000241
**Filing Date:** 2023-2
**Character Count:** 4175
**Document Hash:** 3d086aff3639ff6c5bfa03bd49d8a704
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000928816-23-000241.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0000928816-23-000241

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230227

**EFFECTIVENESS DATE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001005942
- **IRS NUMBER:** 043299786
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-00515
- **FILM NUMBER:** 23676970

**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 Fixed Income Absolute Return Fund (Series ID: S000024275)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000071712 | Class R        |  |
| C000071713 | Class Y        |  |
| C000071714 | Class A        |  |
| C000071715 | Class B        |  |
| C000071716 | Class C        |  |
| C000118006 | Class R6       |  |
| C000174702 | Class P Shares |  |

<u>Prospectus Supplement </u> <u>*February 28, 2023*</u>

**Putnam Core Bond Fund**

A new management contract approved by shareholders of the fund effective March 1, 2023 will reduce the annual rate of the fund's base management fee and will eliminate the performance adjustment component of the fund's management fee, subject to an eighteen-month transition period. Until March 1, 2023, the sub-sections *Annual fund operating expenses* and *Example* in the section *Fund summary - Fees and expenses* in the Statutory Prospectus and the sub-sections *Annual fund operating expenses* and *Example* in the section *Fees and expenses* in the Summary Prospectus are deleted in their entirety and replaced with the following:

**Annual fund operating expenses**<br> *(expenses you pay each year as a percentage of the value of your investment)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Share class** | **Management** <br> **fees<sup>†</sup>** | **Distribution and service (12b-1) fees** | **Other** <br> **expenses=** | **Total annual fund operating expenses** |
| Class A | 0.46% | 0.25% | 0.00% | 0.71% |
| Class B | 0.46% | 0.45% | 0.00% | 0.91% |
| Class C | 0.46% | 1.00% | 0.00% | 1.46% |
| Class P | 0.46% | 0.00% | 0.00% | 0.46% |
| Class R | 0.46% | 0.50% | 0.00% | 0.96% |
| Class R6 | 0.46% | 0.00% | 0.00% | 0.46% |
| Class Y | 0.46% | 0.00% | 0.00% | 0.46% |

---

<sup>†</sup> Management fees are subject to a performance adjustment. The fund's base management fee is subject to adjustment, up or down, based on the fund's performance relative to the performance of the ICE BofA U.S. Treasury Bill Index plus 300 basis points. For the most recent fiscal year, the fund's base management fee prior to any performance adjustment was 0.60%.

= Other expenses are less than 0.01%.

**Example**

The following hypothetical example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds. It assumes that you invest $10,000 in the fund for the time periods indicated and then, except as indicated, redeem all your

shares at the end of those periods. It assumes a 5% return on your investment each year and that the fund's operating expenses remain the same. Your actual costs may be higher or lower.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Share class** | **1 year** | **3 years** | **5 years** | **10 years** |
| Class A | $470 | $618 | $779 | $1247 |
| Class B | $193 | $290 | $504 | $1063 |
| Class B (no redemption) | $93 | $290 | $504 | $1063 |
| Class C | $249 | $462 | $797 | $1543 |
| Class C (no redemption) | $149 | $462 | $797 | $1543 |
| Class P | $47 | $148 | $258 | $579 |
| Class R | $98 | $306 | $531 | $1178 |
| Class R6 | $47 | $148 | $258 | $579 |
| Class Y | $47 | $148 | $258 | $579 |

---

__________________________________

*Shareholders should retain this Supplement for future reference.*