Putnam High Yield Fund
09/26/2024 | Press release | Distributed by Public on 09/26/2024 07:36
Prospectus by Investment Company - Form 497
VGOF-P14 09/24
SUPPLEMENT DATED SEPTEMBER 26, 2024
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI")
OF PUTNAM HIGH YIELD FUND AND
PUTNAM VT HIGH YIELD FUND
Effective September 30, 2024, the following changes are made to each Fund's Summary Prospectus, Prospectus and SAI:
| 1) | The following is added to the section titled "Your fund's management - Portfolio managers" in each Fund's Summary Prospectus and Prospectus: |
Bryant Dieffenbacher, CFA
Portfolio Manager, portfolio manager of the fund since 2024.
Glenn Voyles, CFA
Portfolio Manager, portfolio manager of the fund since 2024.
| 2) | The following is added to the section titled "Who oversees and manages the fund? - Portfolio managers" in each Fund's Prospectus: |
| Portfolio managers | Joined fund | Employer | Positions over past five years |
| Bryant Dieffenbacher, CFA | 2024 |
Franklin Advisers 2010-Present |
Portfolio Manager |
|
Glenn Voyles, CFA |
2024 |
Franklin Advisers 1993-Present |
Portfolio Manager |
| 3) | The following is added to the table in the section titled "PORTFOLIO MANAGERS - Other accounts managed" in each Fund's SAI: |
|
Portfolio managers |
Other SEC-registered open-end and closed-end funds |
Other accounts that pool assets from more than one client |
Other accounts (including separate accounts, managed account programs and single-sponsor defined contribution plan offerings) | |||
| Number of accounts |
Assets |
Number of accounts |
Assets |
Number of accounts |
Assets |
|
| Bryant Dieffenbacher* | 1 | $2,758,700,000 | 1 | $1,057,500,000 | 0 | $0 |
| Glenn Voyles* | 4 | $3,620,800,000 | 5 | $1,625,400,000 | 3 | $45,100,000 |
*Information is provided as of August 31, 2024.
| 4) | The following is added to the section titled "PORTFOLIO MANAGERS - Ownership of securities" in each Fund's SAI: |
| Portfolio manager(s) | Dollar range of shares owned |
| Bryant Dieffenbacher* | None |
| Glenn Voyles* | None |
| *Information is provided as of August 31, 2024. |
Shareholders should retain this Supplement for future reference.
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