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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 BgSh5snnN9YNQPOV07LxIg==

<SEC-DOCUMENT>0000766524-01-500368.txt : 20010618
<SEC-HEADER>0000766524-01-500368.hdr.sgml : 20010618
ACCESSION NUMBER:		0000766524-01-500368
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20010611
FILED AS OF DATE:		20010615

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM HIGH INCOME CONVERTIBLE & BOND FUND
		CENTRAL INDEX KEY:			0000810943
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				046562068
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		
		SEC FILE NUMBER:	811-05133
		FILM NUMBER:		1661593

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		8002251581
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			PUTNAM INVESTMENTS LLC
	CENTRAL INDEX KEY:			0000766524
	STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
<RELATIONSHIP>OWNER
	IRS NUMBER:				042539558
	STATE OF INCORPORATION:			DE
	FISCAL YEAR END:			1231

FILING VALUES:
	FORM TYPE:		3

BUSINESS ADDRESS:	
	STREET 1:		ONE POST OFFICE SQUARE
	CITY:			BOSTON
	STATE:			MA
	ZIP:			02109
	BUSINESS PHONE:		6172921000

MAIL ADDRESS:	
	STREET 1:		ONE POST OFFICE SQU
	CITY:			BOSTON
	STATE:			MA
	ZIP:			02109

FORMER COMPANY:	
	FORMER CONFORMED NAME:	PUTNAM INVESTMENTS INC
	DATE OF NAME CHANGE:	19930512
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>highinc.txt
<TEXT>

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
																OMB APPROVAL
														OMB Number:		3235-0287
														Expires:  December 31, 2001
														Estimated average burden of
														Hours per response:	0.5

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940.

1.	Name and Address of Reporting Person(s):

		Ziad Malek
		Putnam Investments, LLC
		One Post Office Square
		Boston, Massachusetts

2.	Date of Event Requiring Statement: 6/11/2001

3.	I.R.S. Identification Number of Reporting Person, if an entity
(Voluntary):

4.	Issuer Name and Ticker or Trading Symbol:

		Putnam High Income Convertible and Bond Fund  [PCF]

5.	Relationship of Reporting Person(s) to Issuer (Check all applicable):

(   )	Director								(	)	10% Owner
(   )	Officer (give officer title below	( x )	Other (specify below)

			Managing Director of Issuer's Investment Adviser

6.	If Amendment, Date of Original: Month/Day/Year

7.	Individual or Joint/Group Filing (Check applicable line):

( x )	Form filed by One			( )	Form filed by More than One
			Reporting Person				Reporting Person

Table I:	Non-Derivative Securities Acquired, Disposed of, or Beneficially
Owned

1. Title of Security (Instr. 3):  Closed-end fund:
	Putnam High Income Convertible and Bond Fund

2.	Amount of Securities Beneficially Owned (Instr. 4):	N/A

3.	Ownership Form:  Direct (D) or Indirect (I) (Instr. 5):

4.	Nature of Indirect Beneficial Ownership (Instr. 5)
(Page 1 of 2 Pages)


Table II:	 Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4):	N/A

2.	Date Exercisable and Expiration Date (Month/Day/Year):
		Date Exercisable:			Expiration Date:

3.	Title and Amount of Securities Underlying Derivative Security (Instr.
4):
		Title:					Amount or Number of Shares:

4.	Conversion or Exercise Price of Derivative Security:

5.	Ownership Form of Derivative Security:  Direct (D) or Indirect (I)
(Instr. 5):

6.	Nature of Indirect Beneficial Ownership (Instr. 5):

Explanation of Responses:




CONFIRMING STATEMENT

I, the Officer listed above, as a Reporting Person of Putnam Investment
Management, LLC and Putnam Investments, LLC, the Issuer's Investment
Adviser and Parent Holding Company, respectively, hereby authorize and
designate Andrew J. Hachey, Vice President of Putnam Investments, LLC to
sign and file this Form and any future Forms 3 on my behalf until further
notice.

This Form is permitted to be submitted to the Commission in electronic
format at the option of the Reporting Person, pursuant to Rule 101(b)(4) of
Regulation S-T.

PUTNAM INVESTMENTS, LLC

/s/ Andrew J. Hachey
   - - - - - - - - - - - - - - - - - - - -
   Vice President


   Date: June 15, 2001

 (Page 2 of 2 Pages)

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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