Mutual Fund Summary Prospectus (497k)
01 3월 2014 - 1:05AM
Edgar (US Regulatory)
Putnam
Global Income Trust
Before
you invest, you may wish to review the fund’s prospectus, which contains more information about the fund and its risks. You
may obtain the prospectus and other information about the fund, including the statement of additional information (SAI) and most
recent reports to shareholders, at no cost by visiting putnam.com/funddocuments, calling 1-800-225-1581, or e-mailing Putnam at
funddocuments@putnam.com.
The
fund’s prospectus and SAI, both dated 2/28/14, are incorporated by reference into this summary prospectus.
Goal
Putnam
Global Income Trust seeks high current income. Preservation of capital and long-term total return are secondary objectives, but
only to the extent consistent with the objective of seeking high current income.
Fees
and expenses
The
following table describes the fees and expenses you may pay if you buy and hold shares of the fund. You may qualify for sales charge
discounts if you and your family invest, or agree to invest in the future, at least $100,000 in class A shares or $50,000 in class
M shares of Putnam funds. More information about these and other discounts is available from your financial advisor and in
How
do I buy fund shares?
beginning on page 15 of the fund’s prospectus and in
How to buy shares
beginning on page
II-1 of the fund’s statement of additional information (SAI).
Shareholder
fees
(fees paid directly from your investment)
Share class
|
Maximum sales charge (load) imposed on purchases (as a percentage of offering price)
|
Maximum deferred sales charge (load) (as a percentage of original purchase price or redemption proceeds, whichever is lower)
|
Class A
|
4.00%
|
1.00%*
|
Class B
|
NONE
|
5.00%**
|
Class C
|
NONE
|
1.00%***
|
Class M
|
3.25%
|
0.40%*
|
Class R
|
NONE
|
NONE
|
Class R5
|
NONE
|
NONE
|
Class R6
|
NONE
|
NONE
|
Class Y
|
NONE
|
NONE
|
2
Annual
fund operating expenses
(expenses you pay each year as a percentage of the value
of your investment)
Share class
|
Management fees
|
Distribution and service (12b-1) fees
|
Other
expenses
|
Total annual fund operating
expenses
|
Class A
|
0.55%
|
0.25%
|
0.30%
|
1.10%
|
Class B
|
0.55%
|
1.00%
|
0.30%
|
1.85%
|
Class C
|
0.55%
|
1.00%
|
0.30%
|
1.85%
|
Class M
|
0.55%
|
0.50%
|
0.30%
|
1.35%
|
Class R
|
0.55%
|
0.50%
|
0.30%
|
1.35%
|
Class R5
|
0.55%
|
N/A
|
0.27%
|
0.82%
|
Class R6
|
0.55%
|
N/A
|
0.20%
|
0.75%
|
Class Y
|
0.55%
|
N/A
|
0.30%
|
0.85%
|
* Applies
only to certain redemptions of shares bought with no initial sales charge.
** This
charge is phased out over six years.
*** This
charge is eliminated after one year.
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
|
$508
|
$736
|
$982
|
$1,687
|
Class B
|
$688
|
$882
|
$1,201
|
$1,973
|
Class B
(no redemption)
|
$188
|
$582
|
$1,001
|
$1,973
|
Class C
|
$288
|
$582
|
$1,001
|
$2,169
|
Class C
(no redemption)
|
$188
|
$582
|
$1,001
|
$2,169
|
Class M
|
$458
|
$739
|
$1,040
|
$1,896
|
Class R
|
$137
|
$428
|
$739
|
$1,624
|
Class R5
|
$84
|
$262
|
$455
|
$1,014
|
Class R6
|
$77
|
$240
|
$417
|
$930
|
Class Y
|
$87
|
$271
|
$471
|
$1,049
|
Portfolio
turnover
The
fund pays transaction-related costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio).
A higher turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held
in a taxable account. These costs, which are not
3
reflected
in annual fund operating expenses or the above example, affect fund performance. The fund’s turnover rate in the most recent
fiscal year was 335%.
Investments,
risks, and performance
Investments
For
this “non-diversified” fund, we invest mainly in bonds and securitized debt instruments (such as mortgage-backed investments)
that are obligations of companies and governments worldwide; that are investment-grade in quality; and that have intermediate-
to long-term maturities (three years or longer). We may also invest in bonds that are below-investment-grade in quality (sometimes
referred to as “junk bonds”). We may consider, among other factors, credit, interest rate and prepayment risks, as
well as general market conditions, when deciding whether to buy or sell investments. We typically use to a significant extent derivatives,
such as futures, options, certain foreign currency transactions and swap contracts, for both hedging and non-hedging purposes.
Risks
It
is important to understand that you can lose money by investing in the fund.
The
value of bonds in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including
both general financial market conditions and factors related to a specific issuer or industry. The value of bond investments is
also affected by changing market perceptions of the risk of default. The risks associated with bond investments include interest
rate risk, which means the value of the fund’s investments is likely to fall if interest rates rise. Bond investments also
are subject to credit risk, which is the risk that the issuer of a bond may default on payment of interest or principal. Interest
rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds. Mortgage-backed
investments carry the risk that they may increase in value less when interest rates decline and decline in value more when interest
rates rise. We may have to invest the proceeds from prepaid investments, including mortgage-backed investments, in other investments
with less attractive terms and yields. The value of international investments traded in foreign currencies may be adversely impacted
by fluctuations in exchange rates. International investments, particularly investments in emerging markets, may carry risks associated
with potentially less stable economies or governments (such as the risk of seizure by a foreign government, the imposition of currency
or other restrictions, or high levels of inflation or deflation), and may be illiquid.
4
The
fund’s “non-diversified” status, which means the fund may invest a greater percentage of its assets in fewer
issuers than a “diversified” fund, can increase the fund’s vulnerability to adverse developments affecting a
single industry or issuer, which may result in greater losses and volatility for the fund. Our use of derivatives may increase
these risks by increasing investment exposure (which may be considered leverage) or, in the case of many over-the-counter instruments,
because of the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the
instrument to meet its obligations.
The
fund may not achieve its goal, and it is not intended to be a complete investment program. An investment in the fund is not insured
or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Performance
The
performance information below gives some indication of the risks associated with an investment in the fund by showing the fund’s
performance year to year and over time. The bar chart does not reflect the impact of sales charges. If it did, performance would
be lower. Please remember that past performance is not necessarily an indication of future results. Monthly performance figures
for the fund are available at putnam.com.
Annual
total returns for class A shares before sales charges
5
Average
annual total returns after sales charges
(for periods ending 12/31/13)
Share class
|
1 year
|
5 years
|
10 years
|
Class A before taxes
|
–3.04%
|
10.55%
|
5.31%
|
Class A after taxes on distributions
|
–4.19%
|
8.13%
|
3.34%
|
Class A after taxes on distributions and sale of fund shares
|
–1.73%
|
7.37%
|
3.35%
|
Class B before taxes
|
–4.65%
|
10.34%
|
5.11%
|
Class C before taxes
|
–0.75%
|
10.64%
|
4.96%
|
Class M before taxes
|
–2.52%
|
10.44%
|
5.12%
|
Class R before taxes
|
0.75%
|
11.19%
|
5.48%
|
Class R5 before taxes*
|
1.29%
|
11.75%
|
5.96%
|
Class R6 before taxes*
|
1.30%
|
11.78%
|
5.97%
|
Class Y before taxes
|
1.26%
|
11.75%
|
5.96%
|
Barclays Global Aggregate Bond Index
(no deduction for fees, expenses or taxes)
|
–2.60%
|
3.91%
|
4.46%
|
* Performance
for class R5 and class R6 shares prior to their inception (7/2/12) is derived from the historical performance of class Y shares,
and has not been adjusted for the lower investor servicing fees applicable to class R5 and class R6 shares; had it, returns would
have been higher.
After-tax
returns reflect the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Actual
after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are shown for
class A shares only and will vary for other classes. These after-tax returns do not apply if you hold your fund shares through
a 401(k) plan, an IRA, or another tax-advantaged arrangement.
Class
B share performance reflects conversion to class A shares after eight years.
Your
fund’s management
Investment
advisor
Putnam
Investment Management, LLC
Portfolio
managers
D.
William Kohli, Co-Head of Fixed Income, portfolio manager of the fund since 1994
Michael
Atkin, Portfolio Manager, portfolio manager of the fund since 2007
Kevin
Murphy, Portfolio Manager, portfolio manager of the fund since 2012
Michael
Salm, Co-Head of Fixed Income, portfolio manager of the fund since 2007
Purchase
and sale of fund shares
You
can open an account, purchase and/or sell fund shares, or exchange them for shares of another Putnam fund by contacting your financial
advisor or by calling Putnam Investor Services at 1-800-225-1581.
6
When
opening an account, you must complete and mail a Putnam account application, along with a check made payable to the fund, to: Putnam
Investor Services, P.O. Box 8383, Boston, MA 02266-8383. The minimum initial investment of $500 is currently waived, although Putnam
reserves the right to reject initial investments under $500 at its discretion. There is no minimum for subsequent investments.
You
can sell your shares back to the fund or exchange them for shares of another Putnam fund any day the New York Stock Exchange (NYSE)
is open. Shares may be sold or exchanged by mail, by phone, or online at putnam.com. Some restrictions may apply.
Tax
information
The
fund’s distributions will be taxed as ordinary income or capital gains unless you hold the shares through a tax-advantaged
arrangement, in which case you will generally be taxed only upon withdrawal of monies from the arrangement.
Financial
intermediary compensation
If
you purchase the fund through a broker/dealer or other financial intermediary (such as a bank or financial advisor), the fund and
its related companies may pay that intermediary for the sale of fund shares and related services. Please bear in mind that these
payments may create a conflict of interest by influencing the broker/dealer or other intermediary to recommend the fund over another
investment. Ask your advisor or visit your advisor’s website for more information.
Additional
information, including current performance, is available at putnam.com/funddocuments, by calling 1-800-225-1581, or by e-mailing
Putnam at funddocuments@putnam.com.
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