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Putnam Emerging Markets Income Fund to liquidate

https://www.sec.gov/Archives/edgar/data/1005942/000092881618001879/a_emisupp.htm

497 1 a_emisupp.htm PUTNAM FUNDS TRUST

Prospectus Supplement September 14, 2018

Putnam Emerging Markets Income Fund

Prospectus dated March 30, 2018

At a meeting held on September 14, 2018, the Board of Trustees of Putnam Emerging Markets Income Fund (the “Fund”) approved a plan to liquidate the Fund upon recommendation by Putnam Investment Management, LLC, the Fund’s investment adviser. The liquidation of the Fund is expected to occur on or about November 16, 2018 (the “Liquidation Date”).

Effective as of November 2, 2018, the Fund will be closed to new purchases, other than the reinvestment of dividends, in anticipation of the liquidation. Shareholders can redeem their shares from the Fund at any time on or before the close of business on November 16, 2018 (the “Record Date”) at the then-current net asset value.

On the Liquidation Date, the Fund will liquidate its remaining assets and distribute cash pro rata to all remaining shareholders as of the Record Date, after the payment of (or provision for) all charges, taxes, expenses and liabilities, whether due or accrued or anticipated of the Fund, who have not previously redeemed all of their Fund shares or exchanged their Fund shares for those of another Putnam fund.

Shareholders should consult their tax advisors about the tax implications of the liquidation of the Fund.




313341 9/18


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