Putnam Allstate Advisor

Putnam Multi-Cap Growth Subaccount

The subaccount seeks long-term capital appreciation.

Fund description

The subaccount invests in companies of all sizes across a range of industry sectors. The management team looks for stocks of innovative companies that are positioned in sectors believed to offer exceptional growth potential. The fund targets companies with strong management and superior financial characteristics.

Sales story

A flexible approach to seeking companies growing faster than the marketFlexibility: The fund's portfolio manager can invest in companies of all sizes.A growth strategy: The fund targets stocks of companies that are believed to offer above-average growth potential.A rigorous process: Supported by a strong research team, the fund's manager uses his stock-picking expertise and multiple resources to identify opportunities and manage risk.

Management team

Daily pricing as of 02/23/18

with optional enhanced death benefits
Unit Value $20.198721 $19.629176
Unit Value Change 0.322116 0.312955

Lipper ranking ‡ as of 01/31/18

Category: Multi-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 37% 28/76
1 yr. 35% 36/102
3 yrs. 24% 24/101
5 yrs. 24% 23/95

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. Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

‡ 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 01/31/18

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 103
Turnover (fiscal year end) 72%
Net Assets $811M
Inception Date 05/02/94

Performance

Performance as of 12/31/17

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 5.75% 27.62% 27.62% 10.18% 15.09% 7.36% 7.07%
Standardized -3.40% 17.62% 17.62% 5.33% 12.29% 3.90% 5.35%
With optional enhanced death benefit
Unit Value 5.71% 27.42% 27.42% 10.01% 14.92% 7.19% 6.91%
Standardized -3.43% 17.42% 17.42% 5.15% 12.11% 3.71% 5.16%
Actual performance
Unit Value 5.75% 27.62% 27.62% 10.18% 15.09% 7.36% 3.52%
Standardized -3.40% 17.62% 17.62% 5.33% 12.29% 3.90% -1.58%
With optional enhanced death benefit
Unit Value 5.71% 27.42% 27.42% 10.01% 14.92% 7.19% 3.35%
Standardized -3.43% 17.42% 17.42% 5.15% 12.11% 3.71% -1.88%

Annual Performance at NAV

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-39.51% 30.48% 18.06% -6.27% 15.30% 34.73% 12.07% -1.54% 6.45% 27.62%
With optional enhanced death benefit
-39.60% 30.29% 17.88% -6.41% 15.12% 34.53% 11.90% -1.69% 6.28% 27.42%

Restated performance

Monthly as of 01/31/18

Unit Value 8.48%
Standardized -0.85%

YTD as of 02/23/18

Unit Value 5.91%
Standardized -3.24%

With optional enhanced death benefit

Monthly as of 01/31/18

Unit Value 8.47%
Standardized -0.86%

YTD as of 02/23/18

Unit Value 5.89%
Standardized -3.27%

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.

Recent performance benefitted from receipt of an Enron Class Action Settlement pertaining to investments made prior to 2002.

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.

Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

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 01/31/18

Alpha (%) -2.52
Beta 1.09
R Squared 0.96
Standard Deviation (3 yrs.) 12.17

Holdings

Top 10 holdings as of 01/31/18

Alphabet 5.86%
Amazon.Com 5.19%
Microsoft Corp 4.61%
Visa 3.75%
Apple 3.19%
Facebook 3.01%
Becton Dickinson And 2.91%
Norfolk Southern Corp 2.83%
Home Depot The 2.74%
Bank Of America Corp 2.36%
Top 10 holdings, total: 36.45%

Equity Holdings as of 12/31/17

ALPHABET INC-CL C 5.63%
AMAZON.COM INC 4.49%
MICROSOFT CORP 4.46%
VISA INC-CLASS A SHARES 3.70%
APPLE INC 3.47%
FACEBOOK INC-A 3.06%
NORFOLK SOUTHERN CORP 2.92%
HOME DEPOT INC 2.77%
BECTON DICKINSON AND CO 2.75%
BANK OF AMERICA CORP 2.34%
DANAHER CORP 2.13%
UNITEDHEALTH GROUP INC 1.92%
HEINEKEN NV 1.91%
MCCORMICK & CO-NON VTG SHRS 1.67%
PAYPAL HOLDINGS INC 1.67%
ALIBABA GROUP HOLDING-SP ADR 1.61%
ADOBE SYSTEMS INC 1.33%
UNITED TECHNOLOGIES CORP 1.33%
BOSTON SCIENTIFIC CORP 1.29%
SALESFORCE.COM INC 1.23%
HILTON WORLDWIDE HOLDINGS IN 1.22%
NORTHROP GRUMMAN CORP 1.21%
BOEING CO/THE 1.20%
BLACKROCK INC 1.18%
DOVER CORP 1.17%
SHERWIN-WILLIAMS CO/THE 1.17%
LIVE NATION ENTERTAINMENT IN 1.11%
BROADCOM LTD 1.07%
CHARTER COMMUNICATIONS INC-A 1.04%
DENTSPLY SIRONA INC 1.00%
FMC CORP 1.00%
SCHWAB (CHARLES) CORP 1.00%
HUMANA INC 0.98%
BIOGEN INC 0.93%
VERTEX PHARMACEUTICALS INC 0.91%
DEVON ENERGY CORP 0.89%
FORTIVE CORP 0.88%
AMERICAN TOWER CORP 0.85%
CONSTELLATION BRANDS INC-A 0.85%
PRICELINE GROUP INC/THE 0.85%
PRAXAIR INC 0.82%
FORTUNE BRANDS HOME & SECURI 0.81%
SERVICENOW INC 0.79%
SUNCOR ENERGY INC 0.79%
REALPAGE INC 0.74%
ROPER TECHNOLOGIES INC 0.74%
ADIDAS AG 0.70%
INTERCONTINENTAL EXCHANGE IN 0.70%
INTUITIVE SURGICAL INC 0.69%
OSHKOSH CORP 0.67%
STMICROELECTRONICS NV-NY SHS 0.67%
PRUDENTIAL PLC 0.65%
CELLNEX TELECOM SAU 0.61%
LOGMEIN INC 0.61%
KION GROUP AG 0.59%
PULTEGROUP INC 0.59%
JAZZ PHARMACEUTICALS PLC 0.58%
SUMMIT MATERIALS INC -CL A 0.58%
YUM CHINA HOLDINGS INC 0.58%
NETFLIX INC 0.57%
CLOVIS ONCOLOGY INC 0.56%
ROCKWELL AUTOMATION INC 0.56%
ACTIVISION BLIZZARD INC 0.55%
PIRELLI & C SPA 0.54%
WISDOMTREE INVESTMENTS INC 0.53%
ABBVIE INC 0.52%
CHALLENGER LTD 0.52%
OKTA INC 0.51%
DAVE & BUSTER'S ENTERTAINMEN 0.50%
FIDELITY NATIONAL INFO SERV 0.50%
AGILENT TECHNOLOGIES INC 0.49%
EQUINIX INC 0.49%
NVIDIA CORP 0.49%
PENUMBRA INC 0.49%
VAIL RESORTS INC 0.49%
ALBEMARLE CORP 0.47%
TENCENT HOLDINGS LTD 0.47%
APPLIED MATERIALS INC 0.43%
PLAINS GP HOLDINGS LP-CL A 0.43%
BIOVERATIV INC 0.42%
BOOZ ALLEN HAMILTON HOLDINGS 0.40%
BIO-RAD LABORATORIES-A 0.39%
MICRON TECHNOLOGY INC 0.37%
BWX TECHNOLOGIES INC 0.29%
TALEND SA - ADR 0.27%
MEDICINES COMPANY 0.26%
DELIVERY HERO AG 0.25%
SELECT ENERGY SVCS-A-1 0.25%
BROOKS AUTOMATION INC 0.24%
AGIOS PHARMACEUTICALS INC 0.22%
YY INC-ADR 0.21%
MONSTER BEVERAGE CORP 0.19%
OPORTUN FIN CORP P/P SERIES H PFD 0.13%
OVID THERAPEUTICS INC 0.07%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.03%
GLOBAL FASHION GRP P/P 0.02%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
FABFURNISH GMBH P/P 0.00%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN C-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%

Full Portfolio Holdings as of 12/31/17

ALPHABET INC-CL C 5.63%
AMAZON.COM INC 4.49%
MICROSOFT CORP 4.46%
VISA INC-CLASS A SHARES 3.70%
APPLE INC 3.47%
FACEBOOK INC-A 3.06%
NORFOLK SOUTHERN CORP 2.92%
HOME DEPOT INC 2.77%
BECTON DICKINSON AND CO 2.75%
BANK OF AMERICA CORP 2.34%
DANAHER CORP 2.13%
UNITEDHEALTH GROUP INC 1.92%
HEINEKEN NV 1.91%
MCCORMICK & CO-NON VTG SHRS 1.67%
PAYPAL HOLDINGS INC 1.67%
ALIBABA GROUP HOLDING-SP ADR 1.61%
ADOBE SYSTEMS INC 1.33%
UNITED TECHNOLOGIES CORP 1.33%
BOSTON SCIENTIFIC CORP 1.29%
SALESFORCE.COM INC 1.23%
HILTON WORLDWIDE HOLDINGS IN 1.22%
NORTHROP GRUMMAN CORP 1.21%
BOEING CO/THE 1.20%
BLACKROCK INC 1.18%
DOVER CORP 1.17%
SHERWIN-WILLIAMS CO/THE 1.17%
LIVE NATION ENTERTAINMENT IN 1.11%
BROADCOM LTD 1.07%
CHARTER COMMUNICATIONS INC-A 1.04%
DENTSPLY SIRONA INC 1.00%
FMC CORP 1.00%
SCHWAB (CHARLES) CORP 1.00%
HUMANA INC 0.98%
BIOGEN INC 0.93%
VERTEX PHARMACEUTICALS INC 0.91%
DEVON ENERGY CORP 0.89%
FORTIVE CORP 0.88%
AMERICAN TOWER CORP 0.85%
CONSTELLATION BRANDS INC-A 0.85%
PRICELINE GROUP INC/THE 0.85%
PRAXAIR INC 0.82%
FORTUNE BRANDS HOME & SECURI 0.81%
SERVICENOW INC 0.79%
SUNCOR ENERGY INC 0.79%
REALPAGE INC 0.74%
ROPER TECHNOLOGIES INC 0.74%
ADIDAS AG 0.70%
INTERCONTINENTAL EXCHANGE IN 0.70%
INTUITIVE SURGICAL INC 0.69%
OSHKOSH CORP 0.67%
STMICROELECTRONICS NV-NY SHS 0.67%
PRUDENTIAL PLC 0.65%
CELLNEX TELECOM SAU 0.61%
LOGMEIN INC 0.61%
KION GROUP AG 0.59%
PULTEGROUP INC 0.59%
JAZZ PHARMACEUTICALS PLC 0.58%
SUMMIT MATERIALS INC -CL A 0.58%
YUM CHINA HOLDINGS INC 0.58%
NETFLIX INC 0.57%
CLOVIS ONCOLOGY INC 0.56%
ROCKWELL AUTOMATION INC 0.56%
ACTIVISION BLIZZARD INC 0.55%
PIRELLI & C SPA 0.54%
WISDOMTREE INVESTMENTS INC 0.53%
ABBVIE INC 0.52%
CHALLENGER LTD 0.52%
FINANCIAL SELECT SECTOR SPDR 0.52%
OKTA INC 0.51%
DAVE & BUSTER'S ENTERTAINMEN 0.50%
FIDELITY NATIONAL INFO SERV 0.50%
AGILENT TECHNOLOGIES INC 0.49%
EQUINIX INC 0.49%
NVIDIA CORP 0.49%
PENUMBRA INC 0.49%
VAIL RESORTS INC 0.49%
ALBEMARLE CORP 0.47%
TENCENT HOLDINGS LTD 0.47%
APPLIED MATERIALS INC 0.43%
PLAINS GP HOLDINGS LP-CL A 0.43%
BIOVERATIV INC 0.42%
BOOZ ALLEN HAMILTON HOLDINGS 0.40%
BIO-RAD LABORATORIES-A 0.39%
MICRON TECHNOLOGY INC 0.37%
BWX TECHNOLOGIES INC 0.29%
TALEND SA - ADR 0.27%
MEDICINES COMPANY 0.26%
DELIVERY HERO AG 0.25%
SELECT ENERGY SVCS-A-1 0.25%
BROOKS AUTOMATION INC 0.24%
AGIOS PHARMACEUTICALS INC 0.22%
YY INC-ADR 0.21%
MONSTER BEVERAGE CORP 0.19%
OPORTUN FIN CORP P/P SERIES H PFD 0.13%
OVID THERAPEUTICS INC 0.07%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.03%
GLOBAL FASHION GRP P/P 0.02%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
AUD/USD 01/17/2018 SSBT 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
EUR/USD 03/21/2018 JPMCB 0.00%
EUR/USD 03/21/2018 SSBT 0.00%
EUR/USD 03/21/2018 UBS 0.00%
FABFURNISH GMBH P/P 0.00%
GBP/USD 03/21/2018 BANKAM 0.00%
KOREAN WON CALL ACCOUNT 0.00%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN C-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%
POUND STERLING CALL ACCOUNT 0.00%

Prior top 10 holdings

Top 10 holdings as of 01/31/18
1: Alphabet 5.86%
2: Amazon.Com 5.19%
3: Microsoft Corp 4.61%
4: Visa 3.75%
5: Apple 3.19%
6: Facebook 3.01%
7: Becton Dickinson And 2.91%
8: Norfolk Southern Corp 2.83%
9: Home Depot The 2.74%
10: Bank Of America Corp 2.36%
Holdings represent 36.45% of portfolio
Top 10 holdings as of 12/31/17
1: Alphabet 5.63%
2: Amazon.Com 4.49%
3: Microsoft Corp 4.46%
4: Visa 3.70%
5: Apple 3.47%
6: Facebook 3.06%
7: Norfolk Southern Corp 2.92%
8: Home Depot The 2.77%
9: Becton Dickinson And 2.75%
10: Bank Of America Corp 2.34%
Holdings represent 35.59% of portfolio
Top 10 holdings as of 11/30/17
1: Alphabet 5.43%
2: Amazon.Com 5.00%
3: Microsoft Corp 4.33%
4: Visa 3.61%
5: Apple 3.48%
6: Facebook 3.18%
7: Becton Dickinson And 2.90%
8: Home Depot The 2.60%
9: Alibaba Group Holding 2.46%
10: Bank Of America Corp 2.45%
Holdings represent 35.44% of portfolio
Top 10 holdings as of 10/31/17
1: Alphabet 6.02%
2: Microsoft Corp 4.34%
3: Amazon.Com 4.06%
4: Facebook 3.63%
5: Visa 3.58%
6: Apple 3.47%
7: Becton Dickinson And 2.69%
8: Northrop Grumman Corp 2.61%
9: Alibaba Group Holding 2.52%
10: Bank Of America Corp 2.41%
Holdings represent 35.33% of portfolio

Portfolio Composition as of 01/31/18

Common stock 99.00%
Cash and net other assets 0.78%
Convertible preferred stock 0.22%

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.

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. Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

Top Industry Sectors as of 01/31/18

Information technology 35.00%
Health care 16.76%
Consumer discretionary 16.30%
Industrials 11.40%
Financials 7.38%
Consumer staples 4.34%
Materials 3.74%
Energy 1.99%
Real estate 1.28%
 
Other
1.81%
Cash and net other assets 0.78%
Telecommunication services 0.60%
Utilities 0.43%

Expenses

Sales Charges/Fees

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

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. Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

‡ 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%