Putnam Massachusetts Tax Exempt Income Fund
09/26/2024 | Press release | Distributed by Public on 09/26/2024 07:52
Summary Prospectus by Investment Company - Form 497K
VGOF-P15 09/24
SUPPLEMENT DATED SEPTEMBER 26, 2024
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI")
OF EACH FUND LISTED IN SCHEDULE A
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: |
John Bonelli, Portfolio Manager, portfolio manager of the fund since 2024
Michael Conn, Portfolio Manager, portfolio manager of the fund since 2024
Christopher Sperry, CFA, Portfolio Manager, portfolio manager of the fund since 2024
John Wiley, Portfolio Manager, portfolio manager of the fund since 2024
| 2) | The following is added to the section titled "Who oversees and manages the fund(s)? - Portfolio managers" in each Fund's Prospectus: |
| Portfolio managers | Joined fund | Employer | Positions over past five years |
| John Bonelli | 2024 |
Franklin Advisers 2010-Present |
Portfolio Manager |
| Michael Conn | 2024 |
Franklin Advisers 2001-Present |
Portfolio Manager |
| Christopher Sperry, CFA | 2024 |
Franklin Advisers 1996-Present |
Portfolio Manager |
| John Wiley | 2024 |
Franklin Advisers 1989-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 | |
| John Bonelli* | 23 | $29,871,800,000 | 0 | $0 | 1 | $54,200,000 |
| Michael Conn* | 23 | $29,871,800,000 | 0 | $0 | 1 | $54,200,000 |
| Christopher Sperry* | 23 | $29,871,800,000 | 0 | $0 | 141 | $8,813,300,000 |
| John Wiley* | 23 | $29,871,800,000 | 0 | $0 | 1 | $54,200,000 |
*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 fund shares owned |
| John Bonelli* | None |
| Michael Conn* | None |
| Christopher Sperry* | None |
| John Wiley* | None |
|
*Information is provided as of August 31, 2024 |
Schedule A
|
Putnam California Tax Exempt Income Fund |
| Putnam Massachusetts Tax Exempt Income Fund |
| Putnam Minnesota Tax Exempt Income Fund |
| Putnam New Jersey Tax Exempt Income Fund |
| Putnam New York Tax Exempt Income Fund |
| Putnam Ohio Tax Exempt Income Fund |
| Putnam Pennsylvania Tax Exempt Income Fund |
Shareholders should retain this Supplement for future reference.
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