Putnam Allstate Advisor

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

Daily pricing as of 07/15/19

with optional enhanced death benefits
Unit Value $17.090819 $16.57423
Unit Value Change 0.035501 0.034223

Lipper ranking ‡ as of 06/30/19

Category: International Multi-Cap Growth

  Percentile ranking Rank/Funds in category
10 yrs. 78% 45/57
1 yr. 98% 68/69
3 yrs. 76% 49/64
5 yrs. 91% 59/64

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 06/30/19

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 82
Turnover (fiscal year end) 89%
Net Assets $33M
Inception Date 01/02/97

Performance

Performance as of 06/30/19

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 4.48% 16.02% -7.01% 6.87% 0.32% 5.66% 3.34%
Standardized -4.57% 6.16% -15.26% 2.36% -3.67% 3.28% 0.36%
With optional enhanced death benefit
Unit Value 4.44% 15.94% -7.15% 6.71% 0.17% 5.50% 3.18%
Standardized -4.61% 6.08% -15.39% 2.19% -3.83% 3.10% 0.14%
Actual performance
Unit Value 4.48% 16.02% -7.01% 6.87% 0.32% 5.66% 2.63%
Standardized -4.57% 6.16% -15.26% 2.36% -3.67% 3.28% -0.85%
With optional enhanced death benefit
Unit Value 4.44% 15.94% -7.15% 6.71% 0.17% 5.50% 2.47%
Standardized -4.61% 6.08% -15.39% 2.19% -3.83% 3.10% -1.07%

Annual Performance at NAV

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
36.63% 10.80% -18.92% 19.49% 20.84% -7.32% -0.15% -7.88% 33.36% -19.66%
With optional enhanced death benefit
36.43% 10.63% -19.05% 19.31% 20.66% -7.46% -0.30% -8.02% 33.16% -19.78%

Restated performance

Monthly as of 06/30/19

Unit Value 5.75%
Standardized -3.40%

YTD as of 07/15/19

Unit Value 17.56%
Standardized 7.59%

With optional enhanced death benefit

Monthly as of 06/30/19

Unit Value 5.73%
Standardized -3.41%

YTD as of 07/15/19

Unit Value 17.46%
Standardized 7.50%

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 Capital Manager products are flexible-premium variable annuities held by Talcott Resolution Life, Inc., 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 Talcott Resolution 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 Talcott Resolution 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. 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

Risk Characteristics as of 06/30/19

Alpha (%) -2.15
Beta 1.08
R Squared 0.92
Standard Deviation (3 yrs.) 13.07

Holdings

Top 10 holdings as of 06/30/19

Unilever Nv 2.95%
Airbus 2.78%
Prudential 2.42%
Astrazeneca 2.33%
Visa 2.27%
Aia Group 2.24%
Rheinmetall Ag 2.19%
Heineken Nv 2.11%
Adidas AG 2.08%
Hdfc Bank 2.06%
Top 10 holdings, total: 23.43%

Full Portfolio Holdings as of 03/31/19

UNILEVER NV-CVA 3.96%
AIRBUS SE 2.64%
AIA GROUP LTD 2.53%
VISA INC-CLASS A SHARES 2.46%
PERNOD RICARD SA 2.43%
ASTRAZENECA PLC 2.32%
PRUDENTIAL PLC 2.14%
DALATA HOTEL GROUP PLC 2.10%
COMPASS GROUP PLC 2.05%
HEINEKEN NV 2.04%
QBE INSURANCE GROUP LTD 2.00%
HDFC BANK LIMITED 1.98%
ADIDAS AG 1.97%
PALTAC CORPORATION 1.96%
RHEINMETALL AG 1.90%
ORPEA 1.85%
ASAHI GROUP HOLDINGS LTD 1.80%
CONSTELLATION SOFTWARE INC 1.75%
TENCENT HOLDINGS LTD 1.73%
ASHTEAD GROUP PLC 1.71%
ASML HOLDING NV 1.68%
NXP SEMICONDUCTORS NV 1.60%
NOVARTIS AG-REG 1.53%
MERCK & CO. INC. 1.50%
NOVOZYMES A/S-B SHARES 1.47%
TALEND SA - ADR 1.40%
SOFTBANK GROUP CORP 1.31%
FU SHOU YUAN INTERNATIONAL 1.30%
QUILTER PLC 1.29%
KERRY GROUP PLC-A 1.26%
RAI WAY SPA 1.25%
ALLIANCE GLOBAL GROUP INC 1.24%
DINO POLSKA SA 1.24%
RELIANCE INDUSTRIES LTD 1.22%
CLINIGEN GROUP PLC 1.19%
ALPHABET INC-CL A 1.14%
ASSA ABLOY AB-B 1.12%
OCI NV 1.11%
FREEPORT-MCMORAN INC 1.09%
CHINA WATER AFFAIRS GROUP 1.08%
DAIHO CORP 1.08%
CAIRN ENERGY PLC 1.05%
HOYA CORP 1.05%
SINO-AMERICAN SILICON PRODUC 1.05%
DEUTSCHE BOERSE AG 1.01%
KH NEOCHEM CO LTD 1.00%
LOGAN PROPERTY HOLDINGS CO L 1.00%
CREDICORP LTD 0.95%
BANK TABUNGAN PENSIUNAN NASI 0.94%
GRIEG SEAFOOD ASA 0.93%
RIO TINTO LTD 0.93%
AUSTRALIAN DOLLAR ACCOUNT 0.92%
KERING 0.92%
TCI CO LTD 0.92%
COCA-COLA HBC AG-DI 0.91%
PIRELLI & C SPA 0.91%
OUTSOURCING INC 0.89%
ATACADAO DISTRIBUICAO COMERC 0.87%
JARIR MARKETING CO 144A/REGS WARRANT 02/04/2020 0.86%
SARAS SPA 0.86%
DOMINO'S PIZZA GROUP PLC 0.84%
DISCOVERY INC - A 0.81%
OPEN HOUSE CO LTD 0.81%
UNIVERSAL ENTERTAINMENT CORP 0.81%
AIR CANADA 0.78%
SOCIETE GENERALE SA 0.76%
SCREEN HOLDINGS CO LTD 0.75%
MELCO INTERNATIONAL DEVELOP. 0.72%
KOMATSU LTD 0.68%
DART GROUP PLC 0.62%
CHENIERE ENERGY INC 0.61%
ENCANA CORP 0.61%
MORPHOSYS AG 0.60%
SIEMENS AG 0.60%
SAMSUNG ELECTRONICS CO LTD 0.50%
SWISS FRANC CALL ACCOUNT 0.50%
SONY CORP 0.45%
KEI INDUSTRIES LTD 0.33%
MATAHARI DEPARTMENT STORE TB 0.31%
POUND STERLING CALL ACCOUNT 0.31%
GRUPO FINANCIERO GALICIA-ADR 0.29%
CLEAN TEQ HOLDINGS LTD 0.21%
INDIAN RUPEE CALL ACCOUNT 0.21%
ORION ENGINEERED CARBONS SA 0.17%
CHF/USD 06/19/2019 BCAP-FX 0.05%
TAIWAN DOLLAR CALL ACCOUNT 0.05%
GLOBAL FASHION GRP P/P 0.04%
CHF/USD 06/19/2019 JPMCB 0.03%
CAD/USD 04/17/2019 CITI 0.01%
JPY/USD 05/15/2019 GSFX 0.01%
JPY/USD 05/15/2019 JPMCB 0.01%
JPY/USD 05/15/2019 SSBT 0.01%
AUD/USD 04/17/2019 BCAP-FX 0.00%
BRAZILIAN REAL CALL ACCOUNT 0.00%
CAD/USD 04/17/2019 JPMCB 0.00%
CAD/USD 04/17/2019 SSBT 0.00%
CNH/USD 05/15/2019 HSBCB 0.00%
EUR/USD 06/19/2019 BCAP-FX 0.00%
EUR/USD 06/19/2019 CITI 0.00%
GBP/USD 06/19/2019 BCAP-FX 0.00%
GBP/USD 06/19/2019 JPMCB 0.00%
GBP/USD 06/19/2019 SSBT 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
HKD/USD 05/15/2019 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 04/17/2019 SSBT 0.00%
JPY/USD 05/15/2019 BANKAM 0.00%
KRW/USD 05/15/2019 JPMCB 0.00%
MXN/USD 04/17/2019 CITI 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NOK/USD 06/19/2019 JPMCB 0.00%
NZD/USD 04/17/2019 JPMCB 0.00%
PLN/USD 06/19/2019 BCAP-FX 0.00%
SEK/USD 06/19/2019 JPMCB 0.00%
SGD/USD 05/15/2019 JPMCB 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
TWD/USD 05/15/2019 GSFX 0.00%
DKK/USD 06/19/2019 CITI -0.01%
EUR/USD 06/19/2019 HSBCB -0.01%
CANADIAN DOLLAR ACCOUNT -0.20%
JAPANESE YEN CALL ACCOUNT -0.68%

Prior top 10 holdings

Top 10 holdings as of 06/30/19
1: Unilever Nv 2.95%
2: Airbus 2.78%
3: Prudential 2.42%
4: Astrazeneca 2.33%
5: Visa 2.27%
6: Aia Group 2.24%
7: Rheinmetall Ag 2.19%
8: Heineken Nv 2.11%
9: Adidas AG 2.08%
10: Hdfc Bank 2.06%
Holdings represent 23.43% of portfolio
Top 10 holdings as of 05/31/19
1: Unilever Nv 4.21%
2: Airbus 2.63%
3: Visa 2.21%
4: Astrazeneca 2.20%
5: Prudential 2.18%
6: Hdfc Bank 2.12%
7: Diageo 2.08%
8: Heineken Nv 2.08%
9: Aia Group 2.03%
10: Adidas AG 2.01%
Holdings represent 23.75% of portfolio
Top 10 holdings as of 04/30/19
1: Unilever Nv 4.03%
2: Airbus 2.66%
3: Prudential 2.36%
4: Pernod Ricard 2.30%
5: Visa 2.14%
6: Aia Group 2.11%
7: Astrazeneca 2.11%
8: Dalata Hotel Group 2.05%
9: Rheinmetall Ag 2.05%
10: Qbe Insurance Group 2.04%
Holdings represent 23.85% of portfolio
Top 10 holdings as of 03/31/19
1: Unilever Nv 3.96%
2: Airbus 2.64%
3: Aia Group 2.53%
4: Visa 2.46%
5: Pernod Ricard 2.43%
6: Prudential 2.14%
7: Dalata Hotel Group 2.10%
8: Compass Group 2.05%
9: Heineken Nv 2.04%
10: Astrazeneca 2.01%
Holdings represent 24.36% of portfolio

Portfolio Composition as of 06/30/19

Common stock 97.55%
Cash and net other assets 2.45%

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 06/30/19

Consumer staples 16.42%
Financials 14.92%
Consumer discretionary 13.83%
Industrials 13.16%
Information technology 10.96%
Health care 10.68%
Communication services 6.81%
Materials 5.34%
Energy 3.36%
 
Other
4.52%
Cash and net other assets 2.45%
Real estate 1.07%
Utilities 1.00%

Country Allocation as of 06/30/19

United Kingdom 15.40%
Japan 12.15%
Netherlands 9.12%
United States 8.20%
France 6.14%
Germany 5.36%
Canada 4.12%
China 3.88%
India 3.17%
 
Other
32.46%
Indonesia 3.15%
Switzerland 2.96%
Ireland 2.93%
Hong Kong 2.91%
Brazil 2.61%
Australia 2.55%
Cash and net other assets 2.45%
Taiwan 2.15%
Italy 1.95%
Denmark 1.46%
Norway 1.37%
Poland 1.36%
Sweden 1.31%
Philippines 1.19%
Saudi Arabia 0.88%
Russia 0.70%
Peru 0.51%
Luxembourg 0.02%

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. 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.

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%