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        <name>Putnam Short Term Investment Fund</name>
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        <title>Putnam Short Term Investment Fund, Class P</title>
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        <fairValLevel>1</fairValLevel>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <lei>N/A</lei>
        <title>Putnam Dynamic Asset Allocation Equity Fund, Class P</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>191809.89100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3322147.31000000</valUSD>
        <pctVal>77.96893257463</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Putnam Target Date Funds</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
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</edgarSubmission>