Putnam Capital Manager

Putnam International Growth Subaccount

The subaccount seeks long-term capital appreciation.

Fund description

The subaccount invests in companies outside the United States experiencing rapid earnings, sales, and business unit growth, and with the potential for positive earnings surprises. The fund invests primarily in large and midsize companies with superior competitive positions within their industries.

Sales story

Harnessing the potential of international growth companiesInternational growth: The fund invests in international companies with above-average earnings growth primarily from developed international markets.Diverse companies: The portfolio includes large companies that dominate their industries and midsize companies that are emerging leaders with strong future potential.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 Gro Fds

  Percentile ranking Rank/Funds in category
10 yrs. 90% 53/58
1 yr. 73% 52/71
3 yrs. 56% 37/66
5 yrs. 84% 55/65

Risk Characteristics as of 02/29/20

Alpha (%) -1.29
Beta 1.07
R squared 0.91
Standard deviation (3 yrs.) 13.43

International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Additional risks may be associated with emerging market securities, including illiquidity and volatility. The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 02/29/20

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 67
Turnover (fiscal year end) 68%
Net Assets $30M
Inception Date 01/02/97

Holdings

Tencent Holdings 3.67%
Astrazeneca 2.87%
Airbus 2.73%
Nestle 2.55%
Visa 2.44%
Novartis Ag 2.41%
Asml Holding Nv 2.40%
Kering 2.38%
Constellation Software Canada 2.33%
Orpea 2.23%
Top 10 holdings, total: 26.01%


Top 10 holdings as of 02/29/20
1: Tencent Holdings 3.67%
2: Astrazeneca 2.87%
3: Airbus 2.73%
4: Nestle 2.55%
5: Visa 2.44%
6: Novartis Ag 2.41%
7: Asml Holding Nv 2.40%
8: Kering 2.38%
9: Constellation Software Canada 2.33%
10: Orpea 2.23%
Holdings represent 26.01% of portfolio
Top 10 holdings as of 01/31/20
1: Tencent Holdings 3.25%
2: Airbus 3.02%
3: Astrazeneca 2.95%
4: Novartis Ag 2.50%
5: Visa 2.46%
6: Kering 2.34%
7: Asml Holding Nv 2.23%
8: Constellation Software Canada 2.20%
9: Nestle 2.16%
10: Heineken Nv 2.15%
Holdings represent 25.26% of portfolio
Top 10 holdings as of 12/31/19
1: Airbus 2.83%
2: Astrazeneca 2.83%
3: Prudential 2.53%
4: Kering 2.41%
5: Asml Holding Nv 2.26%
6: Visa 2.24%
7: Tencent Holdings 2.21%
8: Ashtead Group 2.19%
9: Heineken Nv 1.99%
10: Constellation Software Canada 1.94%
Holdings represent 23.43% of portfolio
Top 10 holdings as of 11/30/19
1: Airbus 2.92%
2: Astrazeneca 2.78%
3: Prudential 2.41%
4: Kering 2.27%
5: Visa 2.26%
6: Unilever Nv 2.20%
7: Constellation Software Canada 2.19%
8: Ashtead Group 2.14%
9: Asml Holding Nv 2.13%
10: Heineken Nv 1.99%
Holdings represent 23.29% of portfolio


Portfolio Composition as of 02/29/20

Common stock 94.52%
Cash and net other assets 5.48%

Portfolio characteristics 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. Additional risks may be associated with emerging market securities, including illiquidity and volatility. The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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

Consumer staples 17.93%
Consumer discretionary 15.65%
Information technology 15.09%
Financials 13.78%
Industrials 12.30%
Health care 8.74%
Cash and net other assets 5.48%
Communication services 5.38%
Energy 3.16%
 
Other
2.49%
Real estate 1.48%
Materials 1.01%

Country Allocation as of 02/29/20

China 13.59%
Japan 12.48%
France 11.64%
United Kingdom 10.23%
Switzerland 7.24%
Canada 6.66%
Netherlands 6.62%
Cash and net other assets 5.48%
United States 4.38%
 
Other
21.68%
India 4.14%
Germany 3.91%
Hong Kong 2.43%
Australia 1.96%
Ireland 1.72%
Taiwan 1.16%
Russia 1.07%
Indonesia 0.98%
Isle of Man 0.98%
South Korea 0.95%
Norway 0.92%
Poland 0.84%
Egypt 0.62%