M&A: PUTNAM FOCUSED INTERNATIONAL EQUITY FUND

Form Type: N-CSR

Filing Date: 2024-12-27

Corporate Action: Acquisition

Type: New

Accession Number: 000092881624002149

Comments: The document reports that Putnam Focused International Equity Fund underwent significant changes during the reporting period from November 1, 2023, to October 31, 2024. The key event reported is the acquisition of Putnam Holdings by Franklin Templeton, both owned by Franklin Resources, Inc. This acquisition was completed on January 1, 2024. As a result, Putnam Investment Management and its subsidiaries became indirect subsidiaries of Franklin Templeton. Subsequently, a new management contract and sub-advisory agreements were approved by shareholders, with new contracts effective from July 15, 2024, for Franklin Advisers, Inc. Additionally, on November 1, 2024, Putnam Investments Limited merged with Franklin Templeton Investment Management Limited, which required a new sub-advisory agreement to be approved by the Fund's Trustees.

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