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 12/15/17

with optional enhanced death benefits
Unit Value $17.71362 $17.219271
Unit Value Change -0.000609 -0.000663

Lipper ranking ‡ as of 11/30/17

Category: International Multi-Cap Core

  Percentile ranking Rank/Funds in category
10 yrs. 62% 26/41
1 yr. 27% 22/82
3 yrs. 49% 39/79
5 yrs. 16% 11/68

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 11/30/17

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 86
Turnover (fiscal year end) 66%
Net Assets $269M
Inception Date 01/02/97

Performance

Performance as of 09/30/17

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 6.62% 21.45% 17.73% 3.48% 7.51% -0.65% 4.68%
Standardized -2.59% 11.45% 7.75% -1.51% 4.18% -5.91% 2.52%
With optional enhanced death benefit
Unit Value 6.58% 21.31% 17.55% 3.32% 7.35% -0.80% 4.52%
Standardized -2.62% 11.31% 7.58% -1.67% 4.01% -6.10% 2.32%
Actual performance
Unit Value 6.62% 21.45% 17.73% 3.48% 7.51% -0.65% 3.12%
Standardized -2.59% 11.45% 7.75% -1.51% 4.18% -5.91% -0.07%
With optional enhanced death benefit
Unit Value 6.58% 21.31% 17.55% 3.32% 7.35% -0.80% 2.96%
Standardized -2.62% 11.31% 7.58% -1.67% 4.01% -6.10% -0.28%

Annual Performance at NAV

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
7.01% -44.65% 23.08% 8.65% -17.97% 20.39% 26.47% -7.94% -1.11% -3.67%
With optional enhanced death benefit
6.84% -44.74% 22.89% 8.49% -18.10% 20.21% 26.28% -8.08% -1.26% -3.82%

Restated performance

Monthly as of 11/30/17

Unit Value 0.03%
Standardized -8.71%

YTD as of 12/15/17

Unit Value 22.20%
Standardized 12.20%

With optional enhanced death benefit

Monthly as of 11/30/17

Unit Value 0.02%
Standardized -8.72%

YTD as of 12/15/17

Unit Value 22.02%
Standardized 12.02%

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 11/30/17

Alpha (%) -0.10
Beta 0.94
R Squared 0.94
Standard Deviation (3 yrs.) 11.63

Holdings

Top 10 holdings as of 11/30/17

Ing Groep Nv 2.22%
Total 2.22%
Prudential 2.17%
Bayer Ag 2.11%
Siemens Ag 2.10%
Unilever Nv 2.08%
Orix Corp 1.96%
Sony Corp 1.89%
Challenger Financial Service 1.71%
Rio Tinto 1.71%
Top 10 holdings, total: 20.17%

Equity Holdings as of 09/30/17

ING GROEP NV-CVA 2.32%
BAYER AG-REG 2.31%
SIEMENS AG 2.22%
PRUDENTIAL PLC 2.12%
UNILEVER NV-CVA 2.09%
TOTAL SA 2.00%
ORIX CORP 1.87%
RIO TINTO PLC 1.74%
SANOFI 1.70%
SONY CORP 1.67%
HOYA CORP 1.66%
AIRBUS SE 1.63%
SUMITOMO MITSUI FINANCIAL GR 1.62%
CHALLENGER LTD 1.60%
SOCIETE GENERALE SA 1.59%
NSK LTD 1.55%
VALEO SA 1.55%
KOMATSU LTD 1.53%
SHIRE PLC 1.50%
BASF SE 1.47%
DANSKE BANK A/S 1.41%
LIXIL GROUP CORP 1.41%
ROHM CO LTD 1.38%
ASTRAZENECA PLC 1.36%
KONINKLIJKE AHOLD DELHAIZE N 1.35%
ADIDAS AG 1.33%
EVONIK INDUSTRIES AG 1.33%
CRH PLC 1.30%
DIAGEO PLC 1.30%
WH GROUP LTD 1.30%
ASSOCIATED BRITISH FOODS PLC 1.29%
ENI SPA 1.29%
NATIXIS 1.27%
NOKIA OYJ 1.27%
TENCENT HOLDINGS LTD 1.25%
NINTENDO CO LTD 1.24%
ALIBABA GROUP HOLDING-SP ADR 1.23%
UNIPER SE 1.23%
BERKELEY GROUP HOLDINGS/THE 1.22%
SOFTBANK GROUP CORP 1.20%
TDK CORP 1.19%
VEOLIA ENVIRONNEMENT 1.19%
RHEINMETALL AG 1.18%
COMPASS GROUP PLC 1.17%
HEINEKEN NV 1.16%
CENOVUS ENERGY INC 1.15%
CHUGAI PHARMACEUTICAL CO LTD 1.14%
COM HEM HOLDING AB 1.14%
MAGNA INTERNATIONAL INC 1.13%
BANCO MACRO SA-ADR 1.12%
HENKEL AG & CO KGAA VORZUG 1.12%
KERRY GROUP PLC-A 1.06%
RPC GROUP PLC 1.05%
NORSK HYDRO ASA 1.02%
PARTNERS GROUP HOLDING AG 1.01%
KKR & CO LP 0.99%
GRIFOLS SA-ADR 0.97%
AKZO NOBEL 0.95%
EURAZEO SA 0.95%
BARCLAYS PLC 0.94%
KION GROUP AG 0.94%
INSURANCE AUSTRALIA GROUP LTD 0.89%
KYUDENKO CORP 0.89%
VIRGIN MONEY HOLDINGS UK 0.89%
ALTICE NV - A 0.88%
DIXONS CARPHONE PLC 0.88%
TECHTRONIC INDUSTRIES CO LTD 0.86%
ALPHABET INC-CL C 0.85%
JAPAN AIRLINES CO LTD 0.84%
SMC CORP 0.83%
BANK OF IRELAND GROUP PLC 0.82%
SK HYNIX INC 0.79%
AENA SME SA 0.78%
AMAZON.COM INC 0.78%
JOHNSON CONTROLS INTERNATION 0.77%
CONSTELLATION SOFTWARE INC 0.74%
DELIVERY HERO AG 0.64%
SAMSUNG ELECTRONICS-PREF 0.56%
PIRELLI & C. SPA 0.42%
TELECOM ITALIA-RSP 0.28%
GLOBAL FASHION GRP P/P 0.04%
GLOBAL FASHION GRP 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 09/30/17

ING GROEP NV-CVA 2.32%
BAYER AG-REG 2.31%
SIEMENS AG 2.22%
PRUDENTIAL PLC 2.12%
UNILEVER NV-CVA 2.09%
TOTAL SA 2.00%
ORIX CORP 1.87%
RIO TINTO PLC 1.74%
SANOFI 1.70%
SONY CORP 1.67%
HOYA CORP 1.66%
AIRBUS SE 1.63%
SUMITOMO MITSUI FINANCIAL GR 1.62%
CHALLENGER LTD 1.60%
SOCIETE GENERALE SA 1.59%
NSK LTD 1.55%
VALEO SA 1.55%
KOMATSU LTD 1.53%
SHIRE PLC 1.50%
BASF SE 1.47%
DANSKE BANK A/S 1.41%
LIXIL GROUP CORP 1.41%
ROHM CO LTD 1.38%
ASTRAZENECA PLC 1.36%
KONINKLIJKE AHOLD DELHAIZE N 1.35%
ADIDAS AG 1.33%
EVONIK INDUSTRIES AG 1.33%
CRH PLC 1.30%
DIAGEO PLC 1.30%
WH GROUP LTD 1.30%
ASSOCIATED BRITISH FOODS PLC 1.29%
ENI SPA 1.29%
NATIXIS 1.27%
NOKIA OYJ 1.27%
TENCENT HOLDINGS LTD 1.25%
NINTENDO CO LTD 1.24%
ALIBABA GROUP HOLDING-SP ADR 1.23%
UNIPER SE 1.23%
BERKELEY GROUP HOLDINGS/THE 1.22%
SOFTBANK GROUP CORP 1.20%
TDK CORP 1.19%
VEOLIA ENVIRONNEMENT 1.19%
RHEINMETALL AG 1.18%
COMPASS GROUP PLC 1.17%
HEINEKEN NV 1.16%
CENOVUS ENERGY INC 1.15%
CHUGAI PHARMACEUTICAL CO LTD 1.14%
COM HEM HOLDING AB 1.14%
MAGNA INTERNATIONAL INC 1.13%
BANCO MACRO SA-ADR 1.12%
HENKEL AG & CO KGAA VORZUG 1.12%
KERRY GROUP PLC-A 1.06%
RPC GROUP PLC 1.05%
NORSK HYDRO ASA 1.02%
PARTNERS GROUP HOLDING AG 1.01%
KKR & CO LP 0.99%
GRIFOLS SA-ADR 0.97%
AKZO NOBEL 0.95%
EURAZEO SA 0.95%
BARCLAYS PLC 0.94%
KION GROUP AG 0.94%
INSURANCE AUSTRALIA GROUP LTD 0.89%
KYUDENKO CORP 0.89%
VIRGIN MONEY HOLDINGS UK 0.89%
ALTICE NV - A 0.88%
DIXONS CARPHONE PLC 0.88%
TECHTRONIC INDUSTRIES CO LTD 0.86%
ALPHABET INC-CL C 0.85%
JAPAN AIRLINES CO LTD 0.84%
SMC CORP 0.83%
BANK OF IRELAND GROUP PLC 0.82%
SK HYNIX INC 0.79%
AENA SME SA 0.78%
AMAZON.COM INC 0.78%
JOHNSON CONTROLS INTERNATION 0.77%
CONSTELLATION SOFTWARE INC 0.74%
DELIVERY HERO AG 0.64%
SAMSUNG ELECTRONICS-PREF 0.56%
PIRELLI & C. SPA 0.42%
TELECOM ITALIA-RSP 0.28%
THE EURO EUR CALL ACCOUNT 0.24%
GLOBAL FASHION GRP P/P 0.04%
CHF/USD 12/20/2017 SSBT 0.03%
GBP/USD 12/20/2017 JPMCB 0.03%
GLOBAL FASHION GRP 0.03%
TAIWAN DOLLAR CALL ACCOUNT 0.03%
CHF/USD 12/20/2017 BCAP-FX 0.02%
GBP/USD 12/20/2017 GSFX 0.02%
CHF/USD 12/20/2017 CSI-FX 0.01%
CHF/USD 12/20/2017 JPMCB 0.01%
CHF/USD 12/20/2017 UBS 0.01%
GBP/USD 12/20/2017 SSBT 0.01%
JPY/USD 11/15/2017 GSFX 0.01%
SEK/USD 12/20/2017 JPMCB 0.01%
SGD/USD 11/15/2017 JPMCB 0.01%
AUD/USD 10/18/2017 CITI 0.00%
AUD/USD 10/18/2017 SSBT 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 10/18/2017 GSFX 0.00%
CAD/USD 10/18/2017 JPMCB 0.00%
CAD/USD 10/18/2017 SSBT 0.00%
DKK/USD 12/20/2017 CITI 0.00%
EUR/USD 12/20/2017 CITI 0.00%
FABFURNISH GMBH P/P 0.00%
HKD/USD 11/15/2017 BANKAM 0.00%
HKD/USD 11/15/2017 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 10/18/2017 SSBT 0.00%
JPY/USD 11/15/2017 CITI 0.00%
JPY/USD 11/15/2017 JPMCB 0.00%
JPY/USD 11/15/2017 SSBT 0.00%
KOREAN WON CALL ACCOUNT 0.00%
KRW/USD 11/15/2017 JPMCB 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 12/20/2017 CSI-FX 0.00%
NOK/USD 12/20/2017 JPMCB 0.00%
NZD/USD 10/18/2017 CITI 0.00%
POUND STERLING CALL ACCOUNT 0.00%
SEK/USD 12/20/2017 CSI-FX 0.00%
CNH/USD 11/15/2017 GSFX -0.01%
EUR/USD 12/20/2017 GSFX -0.01%
EUR/USD 12/20/2017 HSBCB -0.01%
GBP/USD 12/20/2017 BANKAM -0.01%
GBP/USD 12/20/2017 CITI -0.01%
EUR/USD 12/20/2017 BANKAM -0.02%
EUR/USD 12/20/2017 JPMCB -0.02%
GBP/USD 12/20/2017 RBSF -0.02%
EUR/USD 12/20/2017 SSBT -0.03%

Prior top 10 holdings

Top 10 holdings as of 11/30/17
1: Ing Groep Nv 2.22%
2: Total 2.22%
3: Prudential 2.17%
4: Bayer Ag 2.11%
5: Siemens Ag 2.10%
6: Unilever Nv 2.08%
7: Orix Corp 1.96%
8: Sony Corp 1.89%
9: Challenger Financial Service 1.71%
10: Rio Tinto 1.71%
Holdings represent 20.17% of portfolio
Top 10 holdings as of 10/31/17
1: Ing Groep Nv 2.25%
2: Siemens Ag 2.19%
3: Bayer Ag 2.14%
4: Prudential 2.10%
5: Unilever Nv 2.08%
6: Total 2.02%
7: Orix Corp 1.92%
8: Airbus 1.70%
9: Rio Tinto 1.69%
10: Sony Corp 1.69%
Holdings represent 19.78% of portfolio
Top 10 holdings as of 09/30/17
1: Ing Groep Nv 2.32%
2: Bayer Ag 2.31%
3: Siemens Ag 2.22%
4: Prudential 2.12%
5: Unilever Nv 2.09%
6: Total 2.00%
7: Orix Corp 1.87%
8: Rio Tinto 1.74%
9: Sanofi 1.70%
10: Sony Corp 1.67%
Holdings represent 20.04% of portfolio
Top 10 holdings as of 08/31/17
1: Ing Groep Nv 2.30%
2: Bayer Ag 2.23%
3: Unilever Nv 2.16%
4: Prudential 2.14%
5: Siemens Ag 2.12%
6: Royal Dutch Shell 2.03%
7: Orix Corp 1.91%
8: Rio Tinto 1.86%
9: Sony Corp 1.83%
10: Hoya Corp 1.81%
Holdings represent 20.39% of portfolio

Portfolio Composition as of 11/30/17

Common stock 98.35%
Preferred stock 0.89%
Cash and net other assets 0.73%
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 11/30/17

Financials 20.08%
Industrials 15.82%
Consumer staples 13.19%
Information technology 12.27%
Consumer discretionary 10.95%
Health care 10.15%
Materials 8.46%
Energy 4.55%
Utilities 2.62%
 
Other
1.91%
Telecommunication services 1.18%
Cash and net other assets 0.73%

Country Allocation as of 11/30/17

Japan 22.59%
United Kingdom 13.86%
Germany 13.79%
France 11.80%
Netherlands 7.40%
United States 3.45%
Ireland 3.12%
Canada 3.03%
Australia 2.46%
 
Other
18.50%
Sweden 2.31%
Italy 2.28%
China 2.26%
Hong Kong 2.23%
South Korea 1.61%
Denmark 1.29%
Finland 1.08%
Brazil 1.05%
Switzerland 1.02%
Norway 0.95%
Spain 0.84%
Argentina 0.79%
Cash and net other assets 0.73%
Luxembourg 0.06%

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%