Putnam Allstate Advisor

Putnam International Value Subaccount

The subaccount seeks capital growth. Current income is a secondary objective.

Fund description

The subaccount applies Putnam's value-oriented strategy of seeking undervalued stocks outside the United States. By buying mostly dividend paying stocks with relatively low valuations, the fund pursues capital growth and, secondarily, current income. The fund is positioned to benefit from the spread of corporate strategies focusing on shareholder value outside the United States.

Sales story

Benefiting from undervalued international companies experiencing positive change International companies: The fund invests in international large and midsize companies to benefit from business opportunities outside the United States.A value strategy: The fund focuses on companies whose stocks are priced below their long-term potential, and where there may be a catalyst for positive change.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 06/22/18

with optional enhanced death benefits
Unit Value $15.889963 $15.43442
Unit Value Change 0.200425 0.194617

Lipper ranking ‡ as of 05/31/18

Category: International Large-Cap Value

  Percentile ranking Rank/Funds in category
10 yrs. 71% 7/9
1 yr. 39% 5/12
3 yrs. 39% 5/12
5 yrs. 51% 6/11

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.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.

‡ 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 05/31/18

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 84
Turnover (fiscal year end) 11%
Net Assets $83M
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 -1.72% -1.72% 13.29% 3.94% 4.40% 0.11% 4.07%
Standardized -10.34% -10.34% 3.62% -1.03% 0.73% -4.56% 1.65%
With optional enhanced death benefit
Unit Value -1.76% -1.76% 13.12% 3.78% 4.25% -0.04% 3.91%
Standardized -10.38% -10.38% 3.47% -1.19% 0.56% -4.75% 1.45%
Actual performance
Unit Value -1.72% -1.72% 13.29% 3.94% 4.40% 0.11% 2.56%
Standardized -10.34% -10.34% 3.62% -1.03% 0.73% -4.56% -0.85%
With optional enhanced death benefit
Unit Value -1.76% -1.76% 13.12% 3.78% 4.25% -0.04% 2.40%
Standardized -10.38% -10.38% 3.47% -1.19% 0.56% -4.75% -1.06%

Annual Performance at NAV

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-46.70% 24.61% 5.79% -14.86% 20.18% 20.69% -10.62% -3.23% -0.15% 23.14%
With optional enhanced death benefit
-46.78% 24.42% 5.62% -14.99% 20.00% 20.50% -10.76% -3.37% -0.31% 22.96%

Restated performance

Monthly as of 05/31/18

Unit Value -2.04%
Standardized -10.64%

YTD as of 06/22/18

Unit Value -3.15%
Standardized -11.67%

With optional enhanced death benefit

Monthly as of 05/31/18

Unit Value -2.05%
Standardized -10.65%

YTD as of 06/22/18

Unit Value -3.22%
Standardized -11.73%

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.

Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.

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 05/31/18

Alpha (%) 1.46
Beta 0.82
R Squared 0.90
Standard Deviation (3 yrs.) 11.34

Holdings

Top 10 holdings as of 05/31/18

Royal Dutch Shell 3.75%
Ing Groep Nv 3.44%
Siemens Ag 2.79%
Suncor Energy 2.30%
Vinci 2.26%
Sanofi 2.15%
Prudential 2.11%
Australia New Zealand Banking Group 1.94%
Mitsubishi Corp 1.94%
Aia Group 1.86%
Top 10 holdings, total: 24.54%

Equity Holdings as of 03/31/18

ING GROEP NV-CVA 3.93%
VINCI SA 2.21%
SANOFI 2.19%
SIEMENS AG 2.16%
PRUDENTIAL PLC 2.14%
ROYAL DUTCH SHELL PLC-A SHS 2.13%
SOCIETE GENERALE SA 2.03%
SUNCOR ENERGY INC 1.93%
AUST AND NZ BANKING GROUP 1.91%
NOVARTIS AG-REG 1.89%
NISSAN MOTOR CO LTD 1.84%
MITSUBISHI CORP 1.83%
SUMITOMO MITSUI FINANCIAL GR 1.81%
VODAFONE GROUP PLC 1.81%
AIA GROUP LTD 1.70%
ASTRAZENECA PLC 1.68%
AXA SA 1.61%
SAMSUNG ELECTRONICS CO LTD 1.60%
RIO TINTO PLC 1.58%
NIPPON TELEGRAPH & TELEPHONE 1.55%
BAE SYSTEMS PLC 1.33%
KERRY GROUP PLC-A 1.33%
CHUBB LTD 1.30%
JAPAN AIRLINES CO LTD 1.25%
TOTAL SA 1.24%
VEOLIA ENVIRONNEMENT 1.24%
INSURANCE AUSTRALIA GROUP LTD 1.23%
ROYAL DUTCH SHELL PLC-B SHS 1.23%
SHISEIDO CO LTD 1.20%
SCOR SE 1.17%
BAYER AG-REG 1.11%
ITOCHU CORP 1.10%
EURAZEO SA 1.08%
ALLIANZ SE-REG 1.06%
HOYA CORP 1.04%
UNILEVER NV-CVA 1.04%
FERGUSON PLC 1.03%
DANSKE BANK A/S 1.02%
ORIX CORP 1.01%
SSE PLC 1.01%
NATIXIS 0.99%
SPARK NEW ZEALAND LTD 0.99%
NOKIA OYJ 0.97%
IMPERIAL BRANDS PLC 0.96%
GLENCORE PLC 0.95%
KONINKLIJKE AHOLD DELHAIZE N 0.95%
JOHNSON CONTROLS INTERNATION 0.94%
TOSHIBA CORP 0.93%
SANWA HOLDINGS CORP 0.92%
TDK CORP 0.90%
ENCANA CORP 0.89%
DALATA HOTEL GROUP PLC 0.88%
MITSUI FUDOSAN CO LTD 0.88%
COM HEM HOLDING AB 0.87%
COMPAGNIE DE SAINT-GOBAIN 0.86%
VALEO SA 0.86%
PANASONIC CORP 0.83%
DNB NOR ASA 0.82%
MIZUHO FINANCIAL GROUP INC 0.82%
NSK LTD 0.82%
CRH PLC 0.81%
BANK OF IRELAND GROUP PLC 0.80%
FIAT CHRYSLER AUTOMOBILES NV 0.80%
SCREEN HOLDINGS CO LTD 0.78%
YAMAHA MOTOR CO LTD 0.77%
AENA SME SA 0.76%
BCE INC 0.76%
SEVEN & I HOLDINGS CO LTD 0.76%
UBS GROUP AG-REG 0.75%
SKANDINAVISKA ENSKILDA BAN-A 0.74%
TELECOM ITALIA-RSP 0.74%
KION GROUP AG 0.73%
SINO-AMERICAN SILICON PRODUC 0.73%
CHALLENGER LTD 0.71%
AKZO NOBEL 0.66%
HENKEL AG & CO KGAA VORZUG 0.65%
NINTENDO CO LTD 0.64%
THYSSENKRUPP AG 0.62%
CREDIT SUISSE GROUP AG-REG 0.61%
LAFARGEHOLCIM LTD-REG 0.61%
MAGNA INTERNATIONAL INC 0.60%
KDDI CORP 0.52%
HIBERNIA REIT PLC 0.51%
LANXESS AG 0.48%
VICINITY CENTRES 0.45%
LLOYDS BANKING GROUP PLC 0.44%

Full Portfolio Holdings as of 03/31/18

ING GROEP NV-CVA 3.93%
VINCI SA 2.21%
SANOFI 2.19%
SIEMENS AG 2.16%
PRUDENTIAL PLC 2.14%
ROYAL DUTCH SHELL PLC-A SHS 2.13%
SOCIETE GENERALE SA 2.03%
SUNCOR ENERGY INC 1.93%
AUST AND NZ BANKING GROUP 1.91%
NOVARTIS AG-REG 1.89%
NISSAN MOTOR CO LTD 1.84%
MITSUBISHI CORP 1.83%
SUMITOMO MITSUI FINANCIAL GR 1.81%
VODAFONE GROUP PLC 1.81%
AIA GROUP LTD 1.70%
ASTRAZENECA PLC 1.68%
AXA SA 1.61%
SAMSUNG ELECTRONICS CO LTD 1.60%
RIO TINTO PLC 1.58%
NIPPON TELEGRAPH & TELEPHONE 1.55%
BAE SYSTEMS PLC 1.33%
KERRY GROUP PLC-A 1.33%
CHUBB LTD 1.30%
JAPAN AIRLINES CO LTD 1.25%
TOTAL SA 1.24%
VEOLIA ENVIRONNEMENT 1.24%
INSURANCE AUSTRALIA GROUP LTD 1.23%
ROYAL DUTCH SHELL PLC-B SHS 1.23%
SHISEIDO CO LTD 1.20%
SCOR SE 1.17%
BAYER AG-REG 1.11%
ITOCHU CORP 1.10%
EURAZEO SA 1.08%
ALLIANZ SE-REG 1.06%
HOYA CORP 1.04%
UNILEVER NV-CVA 1.04%
FERGUSON PLC 1.03%
DANSKE BANK A/S 1.02%
ORIX CORP 1.01%
SSE PLC 1.01%
NATIXIS 0.99%
SPARK NEW ZEALAND LTD 0.99%
NOKIA OYJ 0.97%
IMPERIAL BRANDS PLC 0.96%
GLENCORE PLC 0.95%
KONINKLIJKE AHOLD DELHAIZE N 0.95%
JOHNSON CONTROLS INTERNATION 0.94%
TOSHIBA CORP 0.93%
SANWA HOLDINGS CORP 0.92%
TDK CORP 0.90%
ENCANA CORP 0.89%
DALATA HOTEL GROUP PLC 0.88%
MITSUI FUDOSAN CO LTD 0.88%
COM HEM HOLDING AB 0.87%
COMPAGNIE DE SAINT-GOBAIN 0.86%
VALEO SA 0.86%
PANASONIC CORP 0.83%
DNB NOR ASA 0.82%
MIZUHO FINANCIAL GROUP INC 0.82%
NSK LTD 0.82%
CRH PLC 0.81%
BANK OF IRELAND GROUP PLC 0.80%
FIAT CHRYSLER AUTOMOBILES NV 0.80%
SCREEN HOLDINGS CO LTD 0.78%
YAMAHA MOTOR CO LTD 0.77%
AENA SME SA 0.76%
BCE INC 0.76%
SEVEN & I HOLDINGS CO LTD 0.76%
UBS GROUP AG-REG 0.75%
SKANDINAVISKA ENSKILDA BAN-A 0.74%
TELECOM ITALIA-RSP 0.74%
KION GROUP AG 0.73%
SINO-AMERICAN SILICON PRODUC 0.73%
CHALLENGER LTD 0.71%
AKZO NOBEL 0.66%
HENKEL AG & CO KGAA VORZUG 0.65%
NINTENDO CO LTD 0.64%
THYSSENKRUPP AG 0.62%
CREDIT SUISSE GROUP AG-REG 0.61%
LAFARGEHOLCIM LTD-REG 0.61%
MAGNA INTERNATIONAL INC 0.60%
KDDI CORP 0.52%
HIBERNIA REIT PLC 0.51%
LANXESS AG 0.48%
VICINITY CENTRES 0.45%
LLOYDS BANKING GROUP PLC 0.44%
CHF/USD 06/20/2018 JPMCB 0.02%
EUR/USD 06/20/2018 BANKAM 0.01%
GBP/USD 06/20/2018 JPMCB 0.01%
KRW/USD 05/16/2018 JPMCB 0.01%
AUD/USD 04/18/2018 BANKAM 0.00%
AUD/USD 04/18/2018 CITI 0.00%
AUD/USD 04/18/2018 SSBT 0.00%
AUD/USD 04/18/2018 UBS 0.00%
CAD/USD 04/18/2018 BANKAM 0.00%
CAD/USD 04/18/2018 BCAP-FX 0.00%
CAD/USD 04/18/2018 CITI 0.00%
CAD/USD 04/18/2018 GSFX 0.00%
CAD/USD 04/18/2018 SSBT 0.00%
CAD/USD 04/18/2018 UBS 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
CNH/USD 05/16/2018 GSFX 0.00%
DKK/USD 06/20/2018 CITI 0.00%
EUR/USD 06/20/2018 CITI 0.00%
EUR/USD 06/20/2018 HSBCB 0.00%
EUR/USD 06/20/2018 JPMCB 0.00%
EUR/USD 06/20/2018 WPAC 0.00%
GBP/USD 06/20/2018 BANKAM 0.00%
GBP/USD 06/20/2018 CITI 0.00%
GBP/USD 06/20/2018 GSFX 0.00%
GBP/USD 06/20/2018 SSBT 0.00%
HKD/USD 05/16/2018 BANKAM 0.00%
HKD/USD 05/16/2018 BCAP-FX 0.00%
ILS/USD 04/18/2018 SSBT 0.00%
JPY/USD 05/16/2018 CITI 0.00%
JPY/USD 05/16/2018 JPMCB 0.00%
JPY/USD 05/16/2018 RBSF 0.00%
JPY/USD 05/16/2018 SSBT 0.00%
KOREAN WON CALL ACCOUNT 0.00%
NOK/USD 06/20/2018 JPMCB 0.00%
NZD/USD 04/18/2018 JPMCB 0.00%
POUND STERLING CALL ACCOUNT 0.00%
SEK/USD 06/20/2018 CSI-FX 0.00%
SGD/USD 05/16/2018 JPMCB 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
EUR/USD 06/20/2018 GSFX -0.01%
JPY/USD 05/16/2018 GSFX -0.01%

Prior top 10 holdings

Top 10 holdings as of 05/31/18
1: Royal Dutch Shell 3.75%
2: Ing Groep Nv 3.44%
3: Siemens Ag 2.79%
4: Suncor Energy 2.30%
5: Vinci 2.26%
6: Sanofi 2.15%
7: Prudential 2.11%
8: Australia New Zealand Banking Group 1.94%
9: Mitsubishi Corp 1.94%
10: Aia Group 1.86%
Holdings represent 24.54% of portfolio
Top 10 holdings as of 04/30/18
1: Ing Groep Nv 3.88%
2: Royal Dutch Shell 3.68%
3: Vinci 2.23%
4: Prudential 2.18%
5: Siemens Ag 2.14%
6: Sanofi 2.14%
7: Suncor Energy 2.13%
8: Societe Generale 2.03%
9: Vodafone Group 1.91%
10: Mitsubishi Corp 1.88%
Holdings represent 24.20% of portfolio
Top 10 holdings as of 03/31/18
1: Ing Groep Nv 3.93%
2: Royal Dutch Shell 3.36%
3: Vinci 2.21%
4: Sanofi 2.19%
5: Siemens Ag 2.16%
6: Prudential 2.14%
7: Societe Generale 2.03%
8: Suncor Energy 1.93%
9: Australia New Zealand Banking Group 1.91%
10: Novartis Ag 1.89%
Holdings represent 23.75% of portfolio
Top 10 holdings as of 02/28/18
1: Ing Groep Nv 4.03%
2: Royal Dutch Shell 3.33%
3: Siemens Ag 2.24%
4: Vinci 2.22%
5: Sanofi 2.15%
6: Prudential 2.14%
7: Societe Generale 2.14%
8: Australia New Zealand Banking Group 2.07%
9: Novartis Ag 1.96%
10: Nissan Motor 1.92%
Holdings represent 24.20% of portfolio

Portfolio Composition as of 05/31/18

Common stock 98.00%
Cash and net other assets 2.00%

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.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.

Top Industry Sectors as of 05/31/18

Financials 28.60%
Industrials 17.35%
Energy 8.43%
Health care 8.17%
Telecommunication services 7.27%
Consumer discretionary 7.00%
Consumer staples 6.53%
Information technology 4.87%
Materials 4.74%
 
Other
7.04%
Utilities 3.10%
Cash and net other assets 2.00%
Real estate 1.94%

Country Allocation as of 05/31/18

Japan 21.67%
United Kingdom 17.13%
France 14.84%
Germany 6.78%
Netherlands 5.46%
Canada 5.01%
Australia 4.87%
Ireland 4.51%
Switzerland 3.62%
 
Other
16.11%
United States 2.20%
Cash and net other assets 2.00%
Hong Kong 1.86%
South Korea 1.65%
Sweden 1.61%
Italy 1.55%
New Zealand 1.07%
Denmark 0.94%
Taiwan 0.91%
Finland 0.80%
Norway 0.78%
Spain 0.74%

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.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.

‡ 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%