Putnam Capital Manager

Putnam International Equity Subaccount

The subaccount seeks capital appreciation.

Fund description

Formerly Putnam International Growth Subaccount. The name change does not reflect a shift in subaccount objective or strategy.The subaccount invests in large and midsize international stocks, targeting companies with established earnings growth that are priced below their fundamental worth. The fund has no bias toward growth or value. It offers access to a broad range of investment opportunities in many markets of the world.

Sales story

Pursuing the growth potential of overseas marketsEstablished companies: The fund invests in established large and midsize companies mainly in developed markets to benefit from opportunities unfolding outside the United States.A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads international markets.Building competitive portfolios: The portfolio manager uses fundamental research as the cornerstone of the investment process. This research is supported by quantitative tools and macroeconomic analysis.

Management team

Lipper ranking ‡ as of 02/29/20

Category: International Multi-Cp Core Fds

  Percentile ranking Rank/Funds in category
10 yrs. 23% 10/44
1 yr. 6% 4/79
3 yrs. 37% 27/72
5 yrs. 77% 52/67

Risk Characteristics as of 02/29/20

Alpha (%) 0.00
Beta 1.03
R squared 0.94
Standard deviation (3 yrs.) 12.95

International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Variable annuities are long-term investments designed for retirement purposes.Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.

‡ Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

Quick facts as of 03/31/20

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 57
Turnover (fiscal year end) 80%
Net Assets $184M
Inception Date 01/02/97

Holdings

Novartis Ag 3.33%
Sony Corp 3.29%
Aia Group 3.23%
Prudential 3.14%
Veolia Environnement 2.61%
Axa 2.59%
Astrazeneca 2.26%
Samsung Electronics 2.22%
Kering 2.20%
Sse 2.08%
Top 10 holdings, total: 26.95%


Top 10 holdings as of 02/29/20
1: Novartis Ag 3.33%
2: Sony Corp 3.29%
3: Aia Group 3.23%
4: Prudential 3.14%
5: Veolia Environnement 2.61%
6: Axa 2.59%
7: Astrazeneca 2.26%
8: Samsung Electronics 2.22%
9: Kering 2.20%
10: Sse 2.08%
Holdings represent 26.95% of portfolio
Top 10 holdings as of 01/31/20
1: Novartis Ag 3.43%
2: Sony Corp 3.41%
3: Aia Group 3.00%
4: Prudential 3.00%
5: Axa 2.56%
6: Veolia Environnement 2.43%
7: Astrazeneca 2.31%
8: Hoya Corp 2.16%
9: Kering 2.15%
10: Samsung Electronics 2.11%
Holdings represent 26.56% of portfolio
Top 10 holdings as of 12/31/19
1: Sony Corp 3.24%
2: Astrazeneca 3.15%
3: Aia Group 3.15%
4: Novartis Ag 3.08%
5: Prudential 3.03%
6: Axa 2.64%
7: Kering 2.25%
8: Hoya Corp 2.18%
9: Veolia Environnement 2.15%
10: Unilever Nv 2.13%
Holdings represent 27.00% of portfolio
Top 10 holdings as of 11/30/19
1: Astrazeneca 3.11%
2: Sony Corp 3.10%
3: Aia Group 3.09%
4: Novartis Ag 3.08%
5: Axa 2.97%
6: Prudential 2.89%
7: Unilever Nv 2.58%
8: Veolia Environnement 2.35%
9: Airbus 2.22%
10: Ing Groep Nv 2.15%
Holdings represent 27.54% of portfolio


Portfolio Composition as of 02/29/20

Common stock 94.45%
Cash and net other assets 3.33%
Preferred stock 2.22%

Portfolio allocations will vary over time. The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Variable annuities are long-term investments designed for retirement purposes.Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.

Top Industry Sectors as of 02/29/20

Financials 18.36%
Consumer staples 14.45%
Consumer discretionary 12.14%
Health care 12.12%
Industrials 11.18%
Materials 8.69%
Information technology 7.33%
Utilities 6.22%
Cash and net other assets 3.33%
 
Other
6.18%
Communication services 3.22%
Real estate 2.25%
Energy 0.71%

Country Allocation as of 02/29/20

Japan 18.36%
United Kingdom 17.63%
France 17.12%
Switzerland 12.08%
Netherlands 8.42%
Cash and net other assets 3.33%
Hong Kong 3.23%
Ireland 2.92%
Germany 2.65%
 
Other
14.26%
Canada 2.58%
South Korea 2.22%
United States 1.99%
Italy 1.90%
Norway 1.74%
Spain 1.22%
Denmark 1.13%
United Arab Emirates 1.07%
Finland 0.41%