0001005942 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member PFT:C000002291Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member PFT:C000002292Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member PFT:C000002293Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member PFT:C000002295Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member PFT:C000136806Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member PFT:C000002290Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member PFT:C000002303Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member PFT:C000002304Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member PFT:C000002301Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member PFT:C000002306Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member PFT:C000158897Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member PFT:C000002302Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member rr:AfterTaxesOnDistributionsMember PFT:C000002291Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member rr:AfterTaxesOnDistributionsAndSalesMember PFT:C000002291Member 2022-10-30 2022-10-30 0001005942 PFT:S000000775Member PFT:MSCIEAFEValueIndexMember 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member rr:AfterTaxesOnDistributionsMember PFT:C000002303Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member rr:AfterTaxesOnDistributionsAndSalesMember PFT:C000002303Member 2022-10-30 2022-10-30 0001005942 PFT:S000000777Member PFT:Russell2000GrowthIndexMember 2022-10-30 2022-10-30 iso4217:USD pure 0001005942 false 485BPOS Putnam Funds Trust N-1A 2021-12-31 ~ http://putnam.com/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact PFT_S000000775Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact PFT_S000000775Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact PFT_S000000775Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact PFT_S000000775Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact PFT_S000000775Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact PFT_S000000775Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact PFT_S000000777Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact PFT_S000000777Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact PFT_S000000777Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/BarChartData column period compact * column dei_LegalEntityAxis compact PFT_S000000777Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://putnam.com/role/PerformanceTableData column period compact * column dei_LegalEntityAxis compact PFT_S000000777Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ Fund summary Goal Putnam International Value Fund seeks capital growth. Current income is a secondary objective. Current income is a secondary objective. Fees and expenses The following tables describe the fees and expenses you may pay if you buy, hold and sell shares of the fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial professional and in How do I buy fund shares? beginning on page 17 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI). You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. 50000 Shareholder fees (fees paid directly from your investment) 0.0575 0.0100 0 0.0500 0 0.0100 0 0 0 0 0 0 Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) 0.0076 0.0025 0.0037 0.0138 -0.0025 0.0113 0.0076 0.0100 0.0037 0.0213 -0.0025 0.0188 0.0076 0.0100 0.0037 0.0213 -0.0025 0.0188 0.0076 0.0050 0.0037 0.0163 -0.0025 0.0138 0.0076 0.0000 0.0021 0.0097 -0.0025 0.0072 0.0076 0.0000 0.0037 0.0113 -0.0025 0.0088 10/30/23 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. 684 964 1264 2117 691 943 1321 2251 191 643 1121 2251 291 643 1121 2251 191 643 1121 2251 140 490 863 1912 74 284 512 1167 90 334 598 1352 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 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 6%. 0.06 Investments, risks, and performance Investments We invest mainly in common stocks of large and midsize companies outside the United States, with a focus on value stocks. Value stocks are those that we believe are currently undervalued by the market. If we are correct and other investors ultimately recognize the value of the company, the price of its stock may rise. We invest mainly in developed countries, but may invest in emerging markets. We may consider, among other factors, a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. We may also use derivatives, such as certain foreign currency transactions, futures, options, warrants and swap contracts, for both hedging Risks It is important to understand that you can lose money by investing in the fund. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. The novel coronavirus (COVID-19) pandemic and efforts to contain its spread are likely to negatively affect the value, volatility, and liquidity of the securities and other assets in which the fund invests and exacerbate other risks that apply to the fund. These effects could negatively impact the fund’s performance and lead to losses on your investment in the fund. Value stocks may fail to rebound, and the market may not favor value-style investing. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. 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), and may be or become illiquid. Investments focused in a single region may be affected by common economic forces and other factors. In addition, events in any one country within the region may impact the other countries or the region as a whole. Because the fund currently invests, and may in the future invest significantly in European and Asian companies, the fund is particularly susceptible to economic, political, regulatory and other events or conditions affecting issuers in Europe and Asia. European financial markets have in recent years experienced increased volatility due to concerns with some countries’ high levels of sovereign debt, budget deficits, and unemployment. Asia includes countries in various stages of economic development, from emerging market economies to the highly developed economy of Japan. Some parts of Asia may be subject to a greater degree of economic, political and social instability than is the case in the United States. Our use of derivatives may increase the risks of investing in the fund 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 risk of a party failing to meet its obligations may <div style="border-top: Black 1pt solid; margin: 18pt auto; font-size: 1pt"> </div> increase if the fund has significant investment exposure to that counterparty. The value of derivatives may move in unexpected ways due to unanticipated market movements, the use of leverage, imperfect correlation between the derivative instrument and the reference asset, or other factors, especially in unusual market conditions, and volatility in the value of derivatives could adversely impact the fund’s returns, obligations and exposures. Derivatives are also subject to other risks, including liquidity risk (e.g., liquidity demands arising from the requirement to make payments to a derivative counterparty), operational risk (e.g., settlement issues or system failures), and legal risk (e.g., insufficient legal documentation or contract enforceability issues). There is no guarantee that the investment techniques, analyses, or judgments that we apply in making investment decisions for the fund will produce the intended outcome or that the investments we select for the fund will perform as well as other securities that were not selected for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could negatively impact the fund. 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. It is important to understand that you can lose money by investing in the fund. 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. 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. putnam.com Annual total returns for class A shares before sales charges 0.2149 0.2204 -0.0983 -0.0184 0.0092 0.2408 -0.1796 0.1997 0.0416 0.1419 Year-to-date performance through 2022-09-30 -0.2340 Best calendar quarte 2020-12-31 0.2074 Worst calendar quarter 2020-03-31 -0.2556 Average annual total returns after sales charges (for periods ended 12/31/21) 0.0762 0.0648 0.0613 0.0639 0.0591 0.0577 0.0566 0.0524 0.0509 0.0835 0.0665 0.0613 0.1231 0.0694 0.0614 0.1390 0.0749 0.0650 0.1466 0.0823 0.0717 0.1450 0.0804 0.0702 0.1089 0.0534 0.0581 <div id="xdx_A80_err--PerformanceTableClosingTextBlock_zqmqGMki6ewi"/> <table style="font: 300 9pt/1.5 Arial, Helvetica, Sans-Serif; margin-left: 10px; width: 90%"> <tr style="vertical-align: top"> <td style="width: 25px; text-align: right"/> <td>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.</td> </tr> </table> <table style="font: 300 9pt/1.5 Arial, Helvetica, Sans-Serif; margin-left: 10px; width: 90%"> <tr style="vertical-align: top"> <td style="width: 25px; text-align: right"/> <td>Class B and C share performance reflects conversion to class A shares after eight years.</td> </tr> </table> 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. Fund summary Goal Putnam Small Cap Growth Fund seeks capital appreciation. Fees and expenses The following tables describe the fees and expenses you may pay if you buy, hold and sell shares of the fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. More information about these and other discounts is available from your financial professional and in How do I buy fund shares? beginning on page 14 of the fund’s prospectus, in the Appendix to the fund’s prospectus, and in How to buy shares beginning on page II-1 of the fund’s statement of additional information (SAI). You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Putnam funds. 50000 Shareholder fees (fees paid directly from your investment) 0.0575 0.0100 0 0.0500 0 0.0100 0 0 0 0 0 0 Annual fund operating expenses (expenses you pay each year as a percentage of the value of your investment) 0.0075 0.0025 0.0023 0.0123 0.0075 0.0100 0.0023 0.0198 0.0075 0.0100 0.0023 0.0198 0.0075 0.0050 0.0023 0.0148 0.0075 0 0.0010 0.0085 0.0075 0 0.0023 0.0098 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. 693 943 1212 1978 701 921 1268 2113 201 621 1068 2113 301 621 1068 2113 201 621 1068 2113 151 468 808 1768 87 271 471 1049 100 312 542 1201 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 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 39%. 0.39 Investments, risks, and performance Investments We invest mainly in common stocks of small U.S. companies, with a focus on growth stocks. Growth stocks are issued by companies whose earnings are expected to grow faster than those of similar firms, and whose business growth and other characteristics may lead to an increase in stock price. Under normal circumstances, we invest at least 80% of the fund’s net assets in companies of a size similar to those in the Russell 2000 Growth Index. This policy may be changed only after 60 days’ notice to shareholders. As of August 31, 2022, the index was composed of companies having market capitalizations of between approximately $24.6 million and $8.7 billion. We may consider, among other factors, a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. <div style="border-top: Black 1pt solid; margin: 18pt auto; font-size: 1pt; margin-top: 0; margin-bottom: 0"> </div> Risks It is important to understand that you can lose money by investing in the fund. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. The novel coronavirus (COVID-19) pandemic and efforts to contain its spread are likely to negatively affect the value, volatility, and liquidity of the securities and other assets in which the fund invests and exacerbate other risks that apply to the fund. These effects could negatively impact the fund’s performance and lead to losses on your investment in the fund. Companies whose stocks we believe are undervalued by the market may have experienced adverse business developments or may be subject to special risks that have caused their stocks to be out of favor. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those companies, industries or sectors. There is no guarantee that the investment techniques, analyses, or judgments that we apply in making investment decisions for the fund will produce the intended outcome or that the investments we select for the fund will perform as well as other securities that were not selected for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could negatively impact the fund. 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. It is important to understand that you can lose money by investing in the fund. 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. <div style="border-top: Black 1pt solid; margin: 18pt auto; font-size: 1pt; margin-top: 0; margin-bottom: 0"> </div> 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. putnam.com Annual total returns for class A shares before sales charges 0.1429 0.4755 0.0199 -0.0282 0.0850 0.2019 -0.0258 0.3766 0.4765 0.1413 Year-to-date performance through 2022-09-30 -0.3068 Best calendar quarter 2020-06-30 0.3231 Worst calendar quarter 2018-12-31 -0.2071 Average annual total returns after sales charges (for periods ended 12/31/21) 0.0757 0.2069 0.1660 0.0386 0.1931 0.1592 0.0660 0.1670 0.1407 0.0853 0.2102 0.1660 0.1232 0.2121 0.1658 0.1386 0.2181 0.1699 0.1456 0.2262 0.1770 0.1442 0.2243 0.1758 0.0283 0.1453 0.1414 <div id="xdx_A88_err--PerformanceTableClosingTextBlock_zDM5nDySJJci"/> <table style="font: 300 9pt/1.5 Arial, Helvetica, Sans-Serif; margin-left: 10px; width: 90%"> <tr style="vertical-align: top"> <td style="width: 25px; text-align: right"> </td> <td> Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell ® is a trademark of Frank Russell Company. </td> </tr> </table> <table style="font: 300 9pt/1.5 Arial, Helvetica, Sans-Serif; margin-left: 10px; width: 90%"> <tr style="vertical-align: top"> <td style="width: 25px; text-align: right"> </td> <td> 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. </td> </tr> </table> <table style="font: 300 9pt/1.5 Arial, Helvetica, Sans-Serif; margin-left: 10px; width: 90%"> <tr style="vertical-align: top"> <td style="width: 25px; text-align: right"> </td> <td> Class B and C share performance reflects conversion to class A shares after eight years. </td> </tr> </table> 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. 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. Management fees reflect 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 MSCI EAFE Value Index (ND). For the most recent fiscal year, the fund’s base management fee prior to any performance adjustment was 0.683%. Reflects Putnam Investment Management, LLC’s contractual obligation to limit certain fund expenses through 10/30/23. This obligation may be modified or discontinued only with approval of the Board of Trustees. Performance for class R6 shares prior to its inception (12/2/13) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 shares; had it, returns would have been higher. 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. Restated to reflect current fees. 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 Russell 2000 Growth Index. For the most recent fiscal year, the fund’s base management fee prior to any performance adjustment was 0.613%. Performance for class R6 shares prior to their inception (6/29/15) is derived from the historical performance of class Y shares and has not been adjusted for the lower investor servicing fees applicable to class R6 shares; had it, returns would have been higher.