Putnam Allstate Advisor

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

Daily pricing as of 04/20/18

with optional enhanced death benefits
Unit Value $18.332602 $17.811712
Unit Value Change -0.08462 -0.08229

Lipper ranking ‡ as of 03/31/18

Category: International Multi-Cap Core

  Percentile ranking Rank/Funds in category
10 yrs. 46% 21/45
1 yr. 18% 15/84
3 yrs. 52% 42/80
5 yrs. 12% 8/68

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 03/31/18

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 80
Turnover (fiscal year end) 61%
Net Assets $264M
Inception Date 01/02/97

Performance

Performance as of 03/31/18

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value -0.41% -0.41% 15.91% 3.88% 6.03% 1.13% 4.69%
Standardized -9.12% -9.12% 6.06% -1.13% 2.49% -3.27% 2.49%
With optional enhanced death benefit
Unit Value -0.45% -0.45% 15.74% 3.72% 5.87% 0.98% 4.53%
Standardized -9.16% -9.16% 5.90% -1.29% 2.32% -3.46% 2.29%
Actual performance
Unit Value -0.41% -0.41% 15.91% 3.88% 6.03% 1.13% 3.17%
Standardized -9.12% -9.12% 6.06% -1.13% 2.49% -3.27% 0.07%
With optional enhanced death benefit
Unit Value -0.45% -0.45% 15.74% 3.72% 5.87% 0.98% 3.01%
Standardized -9.16% -9.16% 5.90% -1.29% 2.32% -3.46% -0.14%

Annual Performance at NAV

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-44.65% 23.08% 8.65% -17.97% 20.39% 26.47% -7.94% -1.11% -3.67% 25.01%
With optional enhanced death benefit
-44.74% 22.89% 8.49% -18.10% 20.21% 26.28% -8.08% -1.26% -3.82% 24.82%

Restated performance

Monthly as of 03/31/18

Unit Value -1.05%
Standardized -9.71%

YTD as of 04/20/18

Unit Value 1.17%
Standardized -7.65%

With optional enhanced death benefit

Monthly as of 03/31/18

Unit Value -1.06%
Standardized -9.72%

YTD as of 04/20/18

Unit Value 1.12%
Standardized -7.70%

Unit values and performance information shown apply to the specific annuity product listed, not the underlying Putnam Variable Trust fund. This information should not be used by investors who hold an interest in Putnam Variable Trust funds through a different annuity or other variable product. The unit values and performance of other variable products that offer Putnam Variable Trust funds may be higher or lower due to product charges and expenses or other factors.

Data is historical. Past performance is no guarantee of future results. More recent returns may be less or more than those shown. Investment return and principal value will fluctuate, and you may have a gain or a loss when you sell your units.

Returns shown for the subaccounts for periods before their inception are derived from the historical performance of the underlying fund, adjusted to reflect the mortality, expense risk, and surrender charges applicable to this product and do not factor in the annual $30 contract maintenance fee. Additional riders and options for insurance-related charges will increase expenses and lower returns. Please see the prospectus for details. For a portion of the period, subaccounts may have limited expenses, without which returns would have been lower.

Variable annuities are long-term investments designed for retirement purposes. Putnam Hartford products are flexible-premium variable annuities issued by Hartford Life and Annuity Insurance Company, Simsbury, CT.

Putnam Allstate variable annuities are flexible-premium deferred variable annuities issued by Allstate Life Insurance Company (Allstate Life); underwritten by Allstate Distributors, L.L.C., both of Northbrook, IL; and sold through registered representatives or bank employees who are licensed insurance agents. Please check for availability in your specific state.

These policies have limitations and are sold by prospectus only. The prospectus contains details on the variable annuity, the subaccounts, contract features, fees, expenses, and other pertinent information.

Investors should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus containing this and other information for any variable annuity or variable life product that invests in Putnam Variable Trust funds, contact your financial advisor for a contract prospectus and prospectus for the underlying funds. You may also call Hartford at 1-800-521-0538 or Allstate at 1-800-390-1277. Read the prospectuses carefully before investing.

For the most recent month-end performance, please call Hartford at 1-800-521-0538 or Allstate at 1-800-390-1277.

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.

Risk Characteristics as of 03/31/18

Alpha (%) -0.04
Beta 0.95
R Squared 0.94
Standard Deviation (3 yrs.) 11.84

Holdings

Top 10 holdings as of 03/31/18

Total 2.23%
Rio Tinto 2.14%
Prudential 2.11%
Ing Groep Nv 2.03%
Sony Corp 2.03%
Bayer Ag 2.00%
Magna International 2.00%
Unilever Nv 2.00%
Orix Corp 1.98%
Toyota Motor Corp 1.93%
Top 10 holdings, total: 20.45%

Equity Holdings as of 12/31/17

ING GROEP NV-CVA 2.24%
PRUDENTIAL PLC 2.19%
TOTAL SA 2.15%
SIEMENS AG 2.13%
BAYER AG-REG 2.04%
UNILEVER NV-CVA 2.01%
ORIX CORP 1.90%
RIO TINTO PLC 1.89%
SONY CORP 1.80%
SUMITOMO MITSUI FINANCIAL GR 1.76%
NSK LTD 1.75%
CHALLENGER LTD 1.73%
KOMATSU LTD 1.70%
HOYA CORP 1.64%
KONINKLIJKE AHOLD DELHAIZE N 1.55%
AIRBUS SE 1.54%
VALEO SA 1.51%
ASTRAZENECA PLC 1.49%
SHIRE PLC 1.48%
BASF SE 1.47%
SANOFI 1.42%
SOCIETE GENERALE SA 1.41%
DIAGEO PLC 1.39%
ROHM CO LTD 1.37%
UNIPER SE 1.37%
WH GROUP LTD 1.36%
DANSKE BANK A/S 1.33%
VEOLIA ENVIRONNEMENT 1.30%
ENI SPA 1.25%
KERRY GROUP PLC-A 1.25%
ADIDAS AG 1.24%
CRH PLC 1.23%
RHEINMETALL AG 1.21%
COM HEM HOLDING AB 1.20%
EVONIK INDUSTRIES AG 1.20%
HEINEKEN NV 1.20%
NATIXIS 1.20%
COMPASS GROUP PLC 1.19%
TAKEDA PHARMACEUTICAL CO LTD 1.18%
KYUDENKO CORP 1.17%
MAGNA INTERNATIONAL INC 1.16%
ASSOCIATED BRITISH FOODS PLC 1.15%
ASSA ABLOY AB-B 1.14%
NINTENDO CO LTD 1.11%
ASAHI GROUP HOLDINGS LTD 1.10%
SHISEIDO CO LTD 1.09%
ALIBABA GROUP HOLDING-SP ADR 1.07%
PIRELLI & C SPA 1.06%
EURAZEO SA 1.05%
CHUGAI PHARMACEUTICAL CO LTD 1.04%
NORSK HYDRO ASA 1.04%
TENCENT HOLDINGS LTD 1.04%
TDK CORP 1.03%
TECHTRONIC INDUSTRIES CO LTD 1.03%
CENOVUS ENERGY INC 1.02%
IRB BRASIL RESSEGUROS SA 1.02%
KION GROUP AG 1.02%
NOKIA OYJ 1.00%
PARTNERS GROUP HOLDING AG 1.00%
KKR & CO LP 0.99%
CAIXABANK S.A 0.94%
JAPAN AIRLINES CO LTD 0.94%
SMC CORP 0.94%
DIXONS CARPHONE PLC 0.91%
MICRO FOCUS INTERNATIONAL 0.91%
RPC GROUP PLC 0.90%
ALPHABET INC-CL C 0.89%
SAMSUNG ELECTRONICS-PREF 0.88%
GRUPO FINANCIERO GALICIA-ADR 0.87%
VIRGIN MONEY HOLDINGS UK 0.87%
AENA SME SA 0.85%
ILUKA RESOURCES LTD 0.83%
AMAZON.COM INC 0.82%
BANK OF IRELAND GROUP PLC 0.82%
CONSTELLATION SOFTWARE INC 0.80%
JOHNSON CONTROLS INTERNATION 0.79%
TOSHIBA CORP 0.77%
DELIVERY HERO AG 0.70%
ALTICE NV - A 0.52%
SK HYNIX INC 0.51%
GLOBAL FASHION GRP 0.03%
GLOBAL FASHION GRP P/P 0.03%
FABFURNISH GMBH P/P 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%

Full Portfolio Holdings as of 12/31/17

ING GROEP NV-CVA 2.24%
PRUDENTIAL PLC 2.19%
TOTAL SA 2.15%
SIEMENS AG 2.13%
BAYER AG-REG 2.04%
UNILEVER NV-CVA 2.01%
ORIX CORP 1.90%
RIO TINTO PLC 1.89%
SONY CORP 1.80%
SUMITOMO MITSUI FINANCIAL GR 1.76%
NSK LTD 1.75%
CHALLENGER LTD 1.73%
KOMATSU LTD 1.70%
HOYA CORP 1.64%
KONINKLIJKE AHOLD DELHAIZE N 1.55%
AIRBUS SE 1.54%
VALEO SA 1.51%
ASTRAZENECA PLC 1.49%
SHIRE PLC 1.48%
BASF SE 1.47%
SANOFI 1.42%
SOCIETE GENERALE SA 1.41%
DIAGEO PLC 1.39%
ROHM CO LTD 1.37%
UNIPER SE 1.37%
WH GROUP LTD 1.36%
DANSKE BANK A/S 1.33%
VEOLIA ENVIRONNEMENT 1.30%
ENI SPA 1.25%
KERRY GROUP PLC-A 1.25%
ADIDAS AG 1.24%
CRH PLC 1.23%
RHEINMETALL AG 1.21%
COM HEM HOLDING AB 1.20%
EVONIK INDUSTRIES AG 1.20%
HEINEKEN NV 1.20%
NATIXIS 1.20%
COMPASS GROUP PLC 1.19%
TAKEDA PHARMACEUTICAL CO LTD 1.18%
KYUDENKO CORP 1.17%
MAGNA INTERNATIONAL INC 1.16%
ASSOCIATED BRITISH FOODS PLC 1.15%
ASSA ABLOY AB-B 1.14%
NINTENDO CO LTD 1.11%
ASAHI GROUP HOLDINGS LTD 1.10%
SHISEIDO CO LTD 1.09%
ALIBABA GROUP HOLDING-SP ADR 1.07%
PIRELLI & C SPA 1.06%
EURAZEO SA 1.05%
CHUGAI PHARMACEUTICAL CO LTD 1.04%
NORSK HYDRO ASA 1.04%
TENCENT HOLDINGS LTD 1.04%
TDK CORP 1.03%
TECHTRONIC INDUSTRIES CO LTD 1.03%
CENOVUS ENERGY INC 1.02%
IRB BRASIL RESSEGUROS SA 1.02%
KION GROUP AG 1.02%
NOKIA OYJ 1.00%
PARTNERS GROUP HOLDING AG 1.00%
KKR & CO LP 0.99%
CAIXABANK S.A 0.94%
JAPAN AIRLINES CO LTD 0.94%
SMC CORP 0.94%
DIXONS CARPHONE PLC 0.91%
MICRO FOCUS INTERNATIONAL 0.91%
RPC GROUP PLC 0.90%
ALPHABET INC-CL C 0.89%
SAMSUNG ELECTRONICS-PREF 0.88%
GRUPO FINANCIERO GALICIA-ADR 0.87%
VIRGIN MONEY HOLDINGS UK 0.87%
AENA SME SA 0.85%
ILUKA RESOURCES LTD 0.83%
AMAZON.COM INC 0.82%
BANK OF IRELAND GROUP PLC 0.82%
CONSTELLATION SOFTWARE INC 0.80%
JOHNSON CONTROLS INTERNATION 0.79%
TOSHIBA CORP 0.77%
DELIVERY HERO AG 0.70%
ALTICE NV - A 0.52%
SK HYNIX INC 0.51%
GLOBAL FASHION GRP 0.03%
GLOBAL FASHION GRP P/P 0.03%
TAIWAN DOLLAR CALL ACCOUNT 0.03%
CHF/USD 03/21/2018 BCAP-FX 0.01%
CHF/USD 03/21/2018 JPMCB 0.01%
CNH/USD 02/22/2018 GSFX 0.01%
GBP/USD 03/21/2018 CITI 0.01%
GBP/USD 03/21/2018 RBSF 0.01%
KRW/USD 02/22/2018 JPMCB 0.01%
AUD/USD 01/17/2018 BANKAM 0.00%
AUD/USD 01/17/2018 CITI 0.00%
AUD/USD 01/17/2018 SSBT 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 01/17/2018 GSFX 0.00%
CAD/USD 01/17/2018 JPMCB 0.00%
CAD/USD 01/17/2018 SSBT 0.00%
DKK/USD 03/21/2018 CITI 0.00%
EUR/USD 03/21/2018 BANKAM 0.00%
EUR/USD 03/21/2018 CITI 0.00%
EUR/USD 03/21/2018 GSFX 0.00%
EUR/USD 03/21/2018 JPMCB 0.00%
EUR/USD 03/21/2018 SSBT 0.00%
FABFURNISH GMBH P/P 0.00%
GBP/USD 03/21/2018 BANKAM 0.00%
HKD/USD 02/22/2018 BANKAM 0.00%
HKD/USD 02/22/2018 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 01/17/2018 SSBT 0.00%
JPY/USD 02/22/2018 BANKAM 0.00%
JPY/USD 02/22/2018 CITI 0.00%
JPY/USD 02/22/2018 GSFX 0.00%
JPY/USD 02/22/2018 JPMCB 0.00%
JPY/USD 02/22/2018 SSBT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NEW ZEALAND DOLLAR CALL ACCOUNT 0.00%
NOK/USD 03/21/2018 CSI-FX 0.00%
NOK/USD 03/21/2018 JPMCB 0.00%
NZD/USD 01/17/2018 CITI 0.00%
POUND STERLING CALL ACCOUNT 0.00%
SEK/USD 03/21/2018 CSI-FX 0.00%
SEK/USD 03/21/2018 JPMCB 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
GBP/USD 03/21/2018 GSFX -0.01%
GBP/USD 03/21/2018 JPMCB -0.01%
GBP/USD 03/21/2018 SSBT -0.01%
SGD/USD 02/22/2018 JPMCB -0.01%

Prior top 10 holdings

Top 10 holdings as of 03/31/18
1: Total 2.23%
2: Rio Tinto 2.14%
3: Prudential 2.11%
4: Ing Groep Nv 2.03%
5: Sony Corp 2.03%
6: Bayer Ag 2.00%
7: Magna International 2.00%
8: Unilever Nv 2.00%
9: Orix Corp 1.98%
10: Toyota Motor Corp 1.93%
Holdings represent 20.45% of portfolio
Top 10 holdings as of 02/28/18
1: Total 2.25%
2: Sony Corp 2.11%
3: Prudential 2.10%
4: Ing Groep Nv 2.09%
5: Bayer Ag 2.08%
6: Siemens Ag 1.99%
7: Toyota Motor Corp 1.99%
8: Novartis Ag 1.96%
9: Orix Corp 1.95%
10: Rio Tinto 1.89%
Holdings represent 20.41% of portfolio
Top 10 holdings as of 01/31/18
1: Ing Groep Nv 2.21%
2: Bayer Ag 2.19%
3: Siemens Ag 2.16%
4: Prudential 2.14%
5: Total 2.14%
6: Orix Corp 1.93%
7: Unilever Nv 1.92%
8: Toyota Motor Corp 1.91%
9: Sony Corp 1.88%
10: Rio Tinto 1.85%
Holdings represent 20.33% of portfolio
Top 10 holdings as of 12/31/17
1: Ing Groep Nv 2.24%
2: Prudential 2.19%
3: Total 2.15%
4: Siemens Ag 2.13%
5: Bayer Ag 2.04%
6: Unilever Nv 2.01%
7: Orix Corp 1.90%
8: Rio Tinto 1.89%
9: Sony Corp 1.80%
10: Sumitomo Mitsui Financial Group 1.76%
Holdings represent 20.11% of portfolio

Portfolio Composition as of 03/31/18

Common stock 96.14%
Cash and net other assets 2.69%
Preferred stock 1.14%
Convertible preferred stock 0.03%

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 03/31/18

Financials 23.43%
Industrials 16.57%
Consumer discretionary 11.51%
Consumer staples 11.47%
Information technology 9.95%
Health care 9.27%
Materials 7.32%
Energy 4.47%
Cash and net other assets 2.69%
 
Other
3.32%
Utilities 2.54%
Telecommunication services 0.78%

Country Allocation as of 03/31/18

Japan 23.18%
Germany 12.55%
United Kingdom 12.14%
France 10.49%
Netherlands 7.21%
Switzerland 3.90%
Canada 3.83%
Ireland 3.05%
China 2.83%
 
Other
20.82%
United States 2.72%
Cash and net other assets 2.69%
Italy 2.38%
Spain 2.05%
Australia 1.87%
Brazil 1.83%
Singapore 1.35%
Denmark 1.26%
Sweden 1.18%
South Korea 1.14%
Argentina 0.88%
Luxembourg 0.82%
India 0.65%

Expenses

Sales Charges/Fees

Breakpoint Sales Charge Dealer Allowance CDSC Liab
$0 - $0 0.00% 0.00% N

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.

CDSC

Year Percent
1 7.00%
2 7.00%
3 6.00%
4 5.00%
5 4.00%
6 3.00%
7 2.00%
8+ 0.00%