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 05/23/18

with optional enhanced death benefits
Unit Value $18.654434 $18.121876
Unit Value Change -0.175851 -0.170907

Lipper ranking ‡ as of 04/30/18

Category: International Multi-Cap Growth

  Percentile ranking Rank/Funds in category
10 yrs. 37% 22/59
1 yr. 3% 2/77
3 yrs. 49% 36/74
5 yrs. 59% 43/73

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 04/30/18

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 91
Turnover (fiscal year end) 105%
Net Assets $42M
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 1.06% 1.06% 24.40% 6.14% 5.85% 2.53% 3.93%
Standardized -7.75% -7.75% 14.40% 1.09% 2.15% -1.36% 0.92%
With optional enhanced death benefit
Unit Value 1.03% 1.03% 24.21% 5.98% 5.69% 2.37% 3.77%
Standardized -7.79% -7.79% 14.21% 0.93% 1.98% -1.55% 0.70%
Actual performance
Unit Value 1.06% 1.06% 24.40% 6.14% 5.85% 2.53% 3.24%
Standardized -7.75% -7.75% 14.40% 1.09% 2.15% -1.36% -0.29%
With optional enhanced death benefit
Unit Value 1.03% 1.03% 24.21% 5.98% 5.69% 2.37% 3.09%
Standardized -7.79% -7.79% 14.21% 0.93% 1.98% -1.55% -0.51%

Annual Performance at NAV

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-43.20% 36.63% 10.80% -18.92% 19.49% 20.84% -7.32% -0.15% -7.88% 33.36%
With optional enhanced death benefit
-43.29% 36.43% 10.63% -19.05% 19.31% 20.66% -7.46% -0.30% -8.02% 33.16%

Restated performance

Monthly as of 04/30/18

Unit Value -0.16%
Standardized -8.88%

YTD as of 05/23/18

Unit Value 3.09%
Standardized -5.87%

With optional enhanced death benefit

Monthly as of 04/30/18

Unit Value -0.17%
Standardized -8.90%

YTD as of 05/23/18

Unit Value 3.02%
Standardized -5.93%

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. 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 04/30/18

Alpha (%) 0.20
Beta 0.94
R Squared 0.89
Standard Deviation (3 yrs.) 11.73

Holdings

Top 10 holdings as of 04/30/18

Unilever Nv 3.14%
Adidas AG 2.23%
Bayer Ag 2.16%
Dalata Hotel Group 2.09%
Heineken Nv 2.01%
Aia Group 2.00%
Tencent Holdings 1.98%
Burford Capital 1.96%
Diageo 1.78%
Bae Systems 1.75%
Top 10 holdings, total: 21.10%

Equity Holdings as of 03/31/18

UNILEVER NV-CVA 2.96%
BURFORD CAPITAL LTD 2.45%
TENCENT HOLDINGS LTD 2.38%
ADIDAS AG 2.18%
HEINEKEN NV 2.04%
DALATA HOTEL GROUP PLC 1.99%
AIA GROUP LTD 1.90%
BAYER AG-REG 1.84%
RHEINMETALL AG 1.75%
ALIBABA GROUP HOLDING-SP ADR 1.73%
BAE SYSTEMS PLC 1.69%
DIAGEO PLC 1.68%
KOMATSU LTD 1.66%
KYUDENKO CORP 1.58%
HOYA CORP 1.57%
AIRBUS SE 1.56%
CHALLENGER LTD 1.52%
RELX NV 1.51%
AVICHINA INDUSTRY & TECH-H 1.49%
COMPASS GROUP PLC 1.47%
RIO TINTO PLC 1.43%
SINO-AMERICAN SILICON PRODUC 1.43%
SONY CORP 1.41%
KION GROUP AG 1.36%
UNIVERSAL ENTERTAINMENT CORP 1.34%
RAYTHEON COMPANY 1.33%
IRB BRASIL RESSEGUROS SA 1.32%
SCREEN HOLDINGS CO LTD 1.32%
PALTAC CORPORATION 1.30%
FERROTEC HOLDINGS CORP 1.25%
OCI NV 1.25%
HDFC BANK LIMITED 1.20%
DBS GROUP HOLDINGS LTD 1.19%
SBERBANK PJSC -SPONSORED ADR 1.19%
WALSIN TECHNOLOGY CORP 1.15%
EVONIK INDUSTRIES AG 1.14%
VISA INC-CLASS A SHARES 1.14%
DART GROUP PLC 1.13%
ING GROEP NV-CVA 1.13%
TIM PARTICIPACOES SA 1.13%
DXC TECHNOLOGY CO 1.10%
ILUKA RESOURCES LTD 1.10%
KERRY GROUP PLC-A 1.10%
ALCOA CORP 1.07%
JAZZ PHARMACEUTICALS PLC 1.05%
SHANGHAI FOSUN PHARMACEUTI-H 1.05%
MERCK & CO. INC. 1.04%
CLINIGEN GROUP PLC 1.01%
ORIX CORP 1.01%
DELIVERY HERO AG 1.00%
EDELWEISS FINANCIAL SERVICES 1.00%
SOCIETE GENERALE SA 0.99%
ORPEA 0.96%
SMC CORP 0.96%
CAIRN ENERGY PLC 0.93%
OUTSOURCING INC 0.92%
STMICROELECTRONICS NV 0.90%
ASSA ABLOY AB-B 0.89%
MOLSON COORS BREWING CO -B 0.89%
TOSHIBA CORP 0.89%
DEUTSCHE BOERSE AG 0.88%
NOMAD FOODS LTD 0.84%
NCSOFT CORP 0.82%
VALEO SA 0.79%
SIEMENS AG 0.75%
ASSOCIATED BRITISH FOODS PLC 0.74%
NINTENDO CO LTD 0.73%
ROYAL DUTCH SHELL PLC-A SHS 0.71%
GRUPO FINANCIERO GALICIA-ADR 0.70%
THYSSENKRUPP AG 0.70%
CHINA WATER AFFAIRS GROUP 0.67%
X 5 RETAIL GROUP NV-REGS GDR 0.66%
SANWA HOLDINGS CORP 0.65%
MTU AERO ENGINES AG 0.59%
SHISEIDO CO LTD 0.59%
DAIHO CORP 0.58%
ENCANA CORP 0.58%
KKR & CO LP 0.58%
YATAS YATAK VE YORGAN SANAYI 0.58%
CAIXABANK S.A 0.47%
KH NEOCHEM CO LTD 0.47%
SIEMENS HEALTH 0.44%
J2 ACQUISITION LTD 0.38%
GLOBAL FASHION GRP P/P 0.04%
HC BRILLANT SERVICES 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 03/31/18

UNILEVER NV-CVA 2.96%
BURFORD CAPITAL LTD 2.45%
TENCENT HOLDINGS LTD 2.38%
ADIDAS AG 2.18%
HEINEKEN NV 2.04%
DALATA HOTEL GROUP PLC 1.99%
AIA GROUP LTD 1.90%
BAYER AG-REG 1.84%
RHEINMETALL AG 1.75%
ALIBABA GROUP HOLDING-SP ADR 1.73%
BAE SYSTEMS PLC 1.69%
DIAGEO PLC 1.68%
KOMATSU LTD 1.66%
KYUDENKO CORP 1.58%
HOYA CORP 1.57%
AIRBUS SE 1.56%
CHALLENGER LTD 1.52%
RELX NV 1.51%
AVICHINA INDUSTRY & TECH-H 1.49%
COMPASS GROUP PLC 1.47%
RIO TINTO PLC 1.43%
SINO-AMERICAN SILICON PRODUC 1.43%
SONY CORP 1.41%
KION GROUP AG 1.36%
UNIVERSAL ENTERTAINMENT CORP 1.34%
RAYTHEON COMPANY 1.33%
IRB BRASIL RESSEGUROS SA 1.32%
SCREEN HOLDINGS CO LTD 1.32%
PALTAC CORPORATION 1.30%
FERROTEC HOLDINGS CORP 1.25%
OCI NV 1.25%
HDFC BANK LIMITED 1.20%
DBS GROUP HOLDINGS LTD 1.19%
SBERBANK PJSC -SPONSORED ADR 1.19%
WALSIN TECHNOLOGY CORP 1.15%
EVONIK INDUSTRIES AG 1.14%
VISA INC-CLASS A SHARES 1.14%
DART GROUP PLC 1.13%
ING GROEP NV-CVA 1.13%
TIM PARTICIPACOES SA 1.13%
DXC TECHNOLOGY CO 1.10%
ILUKA RESOURCES LTD 1.10%
KERRY GROUP PLC-A 1.10%
ALCOA CORP 1.07%
JAZZ PHARMACEUTICALS PLC 1.05%
SHANGHAI FOSUN PHARMACEUTI-H 1.05%
MERCK & CO. INC. 1.04%
CLINIGEN GROUP PLC 1.01%
ORIX CORP 1.01%
DELIVERY HERO AG 1.00%
EDELWEISS FINANCIAL SERVICES 1.00%
SOCIETE GENERALE SA 0.99%
ORPEA 0.96%
SMC CORP 0.96%
CAIRN ENERGY PLC 0.93%
OUTSOURCING INC 0.92%
STMICROELECTRONICS NV 0.90%
ASSA ABLOY AB-B 0.89%
MOLSON COORS BREWING CO -B 0.89%
TOSHIBA CORP 0.89%
DEUTSCHE BOERSE AG 0.88%
NOMAD FOODS LTD 0.84%
NCSOFT CORP 0.82%
VALEO SA 0.79%
SIEMENS AG 0.75%
ASSOCIATED BRITISH FOODS PLC 0.74%
NINTENDO CO LTD 0.73%
ROYAL DUTCH SHELL PLC-A SHS 0.71%
GRUPO FINANCIERO GALICIA-ADR 0.70%
THYSSENKRUPP AG 0.70%
CHINA WATER AFFAIRS GROUP 0.67%
X 5 RETAIL GROUP NV-REGS GDR 0.66%
SANWA HOLDINGS CORP 0.65%
MTU AERO ENGINES AG 0.59%
SHISEIDO CO LTD 0.59%
DAIHO CORP 0.58%
ENCANA CORP 0.58%
KKR & CO LP 0.58%
YATAS YATAK VE YORGAN SANAYI 0.58%
SHANGHAI INTL AIRPORT CO LTD 144A REGS WARRANT 05/07/2018 0.55%
THE EURO EUR CALL ACCOUNT 0.49%
CAIXABANK S.A 0.47%
KH NEOCHEM CO LTD 0.47%
SIEMENS HEALTH 0.44%
J2 ACQUISITION LTD 0.38%
GLOBAL FASHION GRP P/P 0.04%
CNH/USD 05/16/2018 GSFX 0.02%
EUR/USD 06/20/2018 CITI 0.02%
SEK/USD 06/20/2018 SSBT 0.02%
CHF/USD 06/20/2018 BCAP-FX 0.01%
CHF/USD 06/20/2018 JPMCB 0.01%
DKK/USD 06/20/2018 CITI 0.01%
EUR/USD 06/20/2018 GSFX 0.01%
KRW/USD 05/16/2018 JPMCB 0.01%
NOK/USD 06/20/2018 JPMCB 0.01%
SEK/USD 06/20/2018 JPMCB 0.01%
AUD/USD 04/18/2018 BANKAM 0.00%
AUD/USD 04/18/2018 CITI 0.00%
AUD/USD 04/18/2018 GSFX 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 04/18/2018 SSBT 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
EUR/USD 06/20/2018 BANKAM 0.00%
EUR/USD 06/20/2018 BCAP-FX 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 JPMCB 0.00%
GBP/USD 06/20/2018 SSBT 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
HKD/USD 05/16/2018 BANKAM 0.00%
HKD/USD 05/16/2018 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 04/18/2018 SSBT 0.00%
INDIAN RUPEE CALL ACCOUNT 0.00%
JPY/USD 05/16/2018 CITI 0.00%
JPY/USD 05/16/2018 GSFX 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%
MXN/USD 04/18/2018 CITI 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NZD/USD 04/18/2018 JPMCB 0.00%
SGD/USD 05/16/2018 JPMCB 0.00%
EUR/USD 06/20/2018 HSBCB -0.01%
JAPANESE YEN CALL ACCOUNT -0.45%
POUND STERLING CALL ACCOUNT -0.59%

Prior top 10 holdings

Top 10 holdings as of 04/30/18
1: Unilever Nv 3.14%
2: Adidas AG 2.23%
3: Bayer Ag 2.16%
4: Dalata Hotel Group 2.09%
5: Heineken Nv 2.01%
6: Aia Group 2.00%
7: Tencent Holdings 1.98%
8: Burford Capital 1.96%
9: Diageo 1.78%
10: Bae Systems 1.75%
Holdings represent 21.10% of portfolio
Top 10 holdings as of 03/31/18
1: Unilever Nv 2.96%
2: Burford Capital 2.45%
3: Tencent Holdings 2.38%
4: Adidas AG 2.18%
5: Heineken Nv 2.04%
6: Dalata Hotel Group 1.99%
7: Aia Group 1.90%
8: Bayer Ag 1.84%
9: Rheinmetall Ag 1.75%
10: Alibaba Group Holding 1.73%
Holdings represent 21.22% of portfolio
Top 10 holdings as of 02/28/18
1: Unilever Nv 2.70%
2: Bayer Ag 2.44%
3: Tencent Holdings 2.43%
4: Sony Corp 2.41%
5: Adidas AG 1.98%
6: Heineken Nv 1.95%
7: Dalata Hotel Group 1.89%
8: Aia Group 1.83%
9: Burford Capital 1.82%
10: Komatsu 1.78%
Holdings represent 21.23% of portfolio
Top 10 holdings as of 01/31/18
1: Unilever Nv 2.83%
2: Bayer Ag 2.57%
3: Tencent Holdings 2.48%
4: Sony Corp 2.15%
5: Aia Group 2.07%
6: Burford Capital 1.97%
7: Adidas AG 1.87%
8: Challenger Financial Service 1.81%
9: Alibaba Group Holding 1.80%
10: Dalata Hotel Group 1.77%
Holdings represent 21.32% of portfolio

Portfolio Composition as of 04/30/18

Common stock 99.13%
Cash and net other assets 0.87%

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 04/30/18

Industrials 20.03%
Financials 18.41%
Information technology 16.03%
Consumer discretionary 12.02%
Consumer staples 11.47%
Health care 9.62%
Materials 7.19%
Energy 2.54%
Telecommunication services 1.19%
 
Other
1.50%
Cash and net other assets 0.87%
Utilities 0.63%

Country Allocation as of 04/30/18

Japan 18.06%
United Kingdom 17.42%
Germany 11.18%
United States 10.02%
Netherlands 7.37%
China 6.91%
France 5.82%
Ireland 3.20%
Taiwan 2.74%
 
Other
17.28%
Australia 2.57%
India 2.36%
Brazil 2.27%
Hong Kong 2.00%
Canada 1.50%
Argentina 1.20%
Singapore 1.17%
Spain 0.88%
Cash and net other assets 0.87%
Sweden 0.87%
South Korea 0.72%
Turkey 0.45%
British Virgin Islands 0.38%
Luxembourg 0.04%

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%