Putnam Allstate Advisor

Putnam Growth Opportunities Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in large U.S. companies with strong revenue and earnings growth prospects. Members of the management team target established companies that are believed to be leaders in their industries with the potential to grow rapidly. The fund's portfolio typically includes world-renowned businesses whose size and scale give them a competitive advantage.

Sales story

Seeking to harness the growth potential of large U.S. companiesA large-company focus: The fund invests in large U.S. companies, targeting those with a competitive edge in markets around the world and the potential to produce strong profits.A rigorous process: The fund's manager uses rigorous fundamental investment research to find opportunities and manage risk.A focus on quality: The manager seeks companies with solid management, sound financials, and products or services that are benefiting from growing demand.

Management team

Daily pricing as of 11/17/17

with optional enhanced death benefits
Unit Value $10.698468 $10.413054
Unit Value Change -0.054955 -0.053533

Lipper ranking ‡ as of 10/31/17

Category: Large-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 30% 45/153
1 yr. 24% 47/197
3 yrs. 60% 113/189
5 yrs. 34% 63/185

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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 10/31/17

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 95
Turnover (fiscal year end) 71%
Net Assets $791M
Inception Date 02/01/00

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 5.91% 21.75% 21.52% 10.08% 14.19% 7.66% 0.13%
Standardized -3.24% 11.75% 11.52% 5.27% 11.27% 4.37% --
With optional enhanced death benefit
Unit Value 5.87% 21.61% 21.34% 9.91% 14.01% 7.49% -0.02%
Standardized -3.28% 11.61% 11.34% 5.09% 11.09% 4.18% --
Actual performance
Unit Value 5.91% 21.75% 21.52% 10.08% 14.19% 7.66% 0.13%
Standardized -3.24% 11.75% 11.52% 5.27% 11.27% 4.37% --
With optional enhanced death benefit
Unit Value -- -- -- -- -- -- --
Standardized -- -- -- -- -- -- --

Annual Performance at NAV

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
4.08% -38.46% 39.09% 15.85% -5.32% 16.09% 34.44% 12.49% -0.24% 5.19%
With optional enhanced death benefit
3.92% -38.56% 38.88% 15.67% -5.46% 15.92% 34.23% 12.32% -0.39% 5.03%

Restated performance

Monthly as of 10/31/17

Unit Value 4.16%
Standardized -4.87%

YTD as of 11/17/17

Unit Value 27.25%
Standardized 17.25%

With optional enhanced death benefit

Monthly as of 10/31/17

Unit Value 4.15%
Standardized -4.88%

YTD as of 11/17/17

Unit Value 27.09%
Standardized 17.09%

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.

Risk Characteristics as of 10/31/17

Alpha (%) -2.07
Beta 1.08
R Squared 0.97
Standard Deviation (3 yrs.) 11.64

Holdings

Top 10 holdings as of 10/31/17

Alphabet 6.44%
Amazon.Com 5.72%
Visa 5.32%
Microsoft Corp 5.09%
Apple 4.50%
Facebook 4.47%
Becton Dickinson And 2.62%
Alibaba Group Holding 2.51%
Northrop Grumman Corp 2.42%
Bank Of America Corp 2.36%
Top 10 holdings, total: 41.45%

Equity Holdings as of 09/30/17

ALPHABET INC-CL C 6.29%
VISA INC-CLASS A SHARES 5.26%
AMAZON.COM INC 5.19%
MICROSOFT CORP 4.72%
FACEBOOK INC-A 4.39%
APPLE INC 4.24%
BECTON DICKINSON AND CO 2.54%
NORTHROP GRUMMAN CORP 2.43%
HOME DEPOT INC 2.40%
ALIBABA GROUP HOLDING-SP ADR 2.37%
NORFOLK SOUTHERN CORP 2.35%
BANK OF AMERICA CORP 2.26%
DANAHER CORP 1.97%
UNITEDHEALTH GROUP INC 1.71%
ADOBE SYSTEMS INC 1.66%
CELGENE CORP 1.57%
HEINEKEN NV 1.50%
SALESFORCE.COM INC 1.50%
BROADCOM LTD 1.48%
CHARTER COMMUNICATIONS INC-A 1.38%
INTUITIVE SURGICAL INC 1.35%
JOHNSON CONTROLS INTERNATION 1.32%
PAYPAL HOLDINGS INC 1.30%
BIOGEN INC 1.28%
PRICELINE GROUP INC/THE 1.27%
BOSTON SCIENTIFIC CORP 1.21%
COMCAST CORP-CLASS A 1.11%
LIVE NATION ENTERTAINMENT IN 1.09%
UNITED TECHNOLOGIES CORP 1.07%
AGILENT TECHNOLOGIES INC 1.00%
SHERWIN-WILLIAMS CO/THE 0.99%
HILTON WORLDWIDE HOLDINGS IN 0.95%
HUMANA INC 0.91%
ALBEMARLE CORP 0.87%
SCHWAB (CHARLES) CORP 0.87%
CUMMINS INC 0.86%
INTERCONTINENTAL EXCHANGE IN 0.86%
BLACKROCK INC 0.85%
TENCENT HOLDINGS LTD 0.85%
DOVER CORP 0.78%
SYMRISE AG 0.78%
VERTEX PHARMACEUTICALS INC 0.78%
FIDELITY NATIONAL INFO SERV 0.76%
FORTUNE BRANDS HOME & SECURI 0.74%
PULTEGROUP INC 0.72%
ADIDAS AG 0.71%
AIRBUS SE 0.71%
ACTIVISION BLIZZARD INC 0.69%
CONSTELLATION BRANDS INC-A 0.69%
MCCORMICK & CO-NON VTG SHRS 0.69%
UBER TECH INC P/P CV PFD 0.68%
EXPEDIA INC 0.67%
JAZZ PHARMACEUTICALS PLC 0.64%
PRUDENTIAL PLC 0.64%
MICRON TECHNOLOGY INC 0.62%
KLA-TENCOR CORP 0.60%
YUM CHINA HOLDINGS INC 0.60%
GAMING AND LEISURE PROPERTIE 0.59%
LAS VEGAS SANDS CORP 0.58%
NVIDIA CORP 0.57%
STMICROELECTRONICS NV-NY SHS 0.57%
SUNCOR ENERGY INC 0.55%
REGENERON PHARMACEUTICALS 0.52%
EOG RESOURCES INC 0.49%
BIOVERATIV INC 0.46%
SUMMIT MATERIALS INC -CL A 0.46%
FMC CORP 0.44%
ROCKWELL AUTOMATION INC 0.43%
MONSTER BEVERAGE CORP 0.41%
PLAINS GP HOLDINGS LP-CL A 0.38%
CAVIUM INC 0.37%
IHS MARKIT LTD 0.36%
PEGASYSTEMS INC 0.36%
ULTA BEAUTY INC 0.33%
BIO-RAD LABORATORIES-A 0.27%
DELIVERY HERO HOLDIN P/P 0.26%
DISH NETWORK CORP-A 0.25%
SELECT ENERGY SVCS-A-1 0.22%
OPORTUN FIN CORP P/P SERIES H PFD 0.15%
ENVEN ENERGY CORP - P/P 144A 0.11%
PIRELLI & C. SPA 0.10%
GLOBAL FASHION GRP P/P 0.07%
OPORTUN FIN G-1 PFD CV P/P 0.05%
TALEND SA - ADR 0.05%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.04%
OPORTUN FIN C-1 PFD CV P/P 0.01%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
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 E-1 PFD CV P/P 0.00%

Full Portfolio Holdings as of 09/30/17

ALPHABET INC-CL C 6.29%
VISA INC-CLASS A SHARES 5.26%
AMAZON.COM INC 5.19%
MICROSOFT CORP 4.72%
FACEBOOK INC-A 4.39%
APPLE INC 4.24%
BECTON DICKINSON AND CO 2.54%
NORTHROP GRUMMAN CORP 2.43%
HOME DEPOT INC 2.40%
ALIBABA GROUP HOLDING-SP ADR 2.37%
NORFOLK SOUTHERN CORP 2.35%
BANK OF AMERICA CORP 2.26%
DANAHER CORP 1.97%
UNITEDHEALTH GROUP INC 1.71%
ADOBE SYSTEMS INC 1.66%
CELGENE CORP 1.57%
HEINEKEN NV 1.50%
SALESFORCE.COM INC 1.50%
BROADCOM LTD 1.48%
CHARTER COMMUNICATIONS INC-A 1.38%
INTUITIVE SURGICAL INC 1.35%
JOHNSON CONTROLS INTERNATION 1.32%
PAYPAL HOLDINGS INC 1.30%
BIOGEN INC 1.28%
PRICELINE GROUP INC/THE 1.27%
BOSTON SCIENTIFIC CORP 1.21%
COMCAST CORP-CLASS A 1.11%
LIVE NATION ENTERTAINMENT IN 1.09%
UNITED TECHNOLOGIES CORP 1.07%
AGILENT TECHNOLOGIES INC 1.00%
SHERWIN-WILLIAMS CO/THE 0.99%
HILTON WORLDWIDE HOLDINGS IN 0.95%
HUMANA INC 0.91%
ALBEMARLE CORP 0.87%
SCHWAB (CHARLES) CORP 0.87%
CUMMINS INC 0.86%
INTERCONTINENTAL EXCHANGE IN 0.86%
BLACKROCK INC 0.85%
TENCENT HOLDINGS LTD 0.85%
DOVER CORP 0.78%
SYMRISE AG 0.78%
VERTEX PHARMACEUTICALS INC 0.78%
FIDELITY NATIONAL INFO SERV 0.76%
FORTUNE BRANDS HOME & SECURI 0.74%
PULTEGROUP INC 0.72%
ADIDAS AG 0.71%
AIRBUS SE 0.71%
ACTIVISION BLIZZARD INC 0.69%
CONSTELLATION BRANDS INC-A 0.69%
MCCORMICK & CO-NON VTG SHRS 0.69%
UBER TECH INC P/P CV PFD 0.68%
EXPEDIA INC 0.67%
JAZZ PHARMACEUTICALS PLC 0.64%
PRUDENTIAL PLC 0.64%
MICRON TECHNOLOGY INC 0.62%
KLA-TENCOR CORP 0.60%
YUM CHINA HOLDINGS INC 0.60%
GAMING AND LEISURE PROPERTIE 0.59%
LAS VEGAS SANDS CORP 0.58%
NVIDIA CORP 0.57%
STMICROELECTRONICS NV-NY SHS 0.57%
SUNCOR ENERGY INC 0.55%
REGENERON PHARMACEUTICALS 0.52%
EOG RESOURCES INC 0.49%
BIOVERATIV INC 0.46%
SUMMIT MATERIALS INC -CL A 0.46%
FMC CORP 0.44%
ROCKWELL AUTOMATION INC 0.43%
MONSTER BEVERAGE CORP 0.41%
PLAINS GP HOLDINGS LP-CL A 0.38%
CAVIUM INC 0.37%
IHS MARKIT LTD 0.36%
PEGASYSTEMS INC 0.36%
ULTA BEAUTY INC 0.33%
BIO-RAD LABORATORIES-A 0.27%
DELIVERY HERO HOLDIN P/P 0.26%
DISH NETWORK CORP-A 0.25%
SELECT ENERGY SVCS-A-1 0.22%
OPORTUN FIN CORP P/P SERIES H PFD 0.15%
ENVEN ENERGY CORP - P/P 144A 0.11%
PIRELLI & C. SPA 0.10%
GLOBAL FASHION GRP P/P 0.07%
OPORTUN FIN G-1 PFD CV P/P 0.05%
TALEND SA - ADR 0.05%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.04%
OPORTUN FIN C-1 PFD CV P/P 0.01%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
CANADIAN DOLLAR ACCOUNT 0.00%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
EUR/USD 12/20/2017 SSBT 0.00%
FABFURNISH GMBH P/P 0.00%
NASDAQ 100 E-MINI DEC17 NQZ7 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 E-1 PFD CV P/P 0.00%
POUND STERLING CALL ACCOUNT 0.00%
S&P500 EMINI FUT DEC17 ESZ7 0.00%
EUR/USD 12/20/2017 UBS -0.01%
GBP/USD 12/20/2017 BANKAM -0.01%
EUR/USD 12/20/2017 JPMCB -0.02%
HONG KONG DOLLAR CALL ACCOUNT -0.05%
THE EURO EUR CALL ACCOUNT -0.12%

Prior top 10 holdings

Top 10 holdings as of 10/31/17
1: Alphabet 6.44%
2: Amazon.Com 5.72%
3: Visa 5.32%
4: Microsoft Corp 5.09%
5: Apple 4.50%
6: Facebook 4.47%
7: Becton Dickinson And 2.62%
8: Alibaba Group Holding 2.51%
9: Northrop Grumman Corp 2.42%
10: Bank Of America Corp 2.36%
Holdings represent 41.45% of portfolio
Top 10 holdings as of 09/30/17
1: Alphabet 6.29%
2: Visa 5.26%
3: Amazon.Com 5.19%
4: Microsoft Corp 4.72%
5: Facebook 4.39%
6: Apple 4.24%
7: Becton Dickinson And 2.54%
8: Northrop Grumman Corp 2.43%
9: Home Depot The 2.40%
10: Alibaba Group Holding 2.37%
Holdings represent 39.83% of portfolio
Top 10 holdings as of 08/31/17
1: Alphabet 6.19%
2: Amazon.Com 5.32%
3: Visa 5.20%
4: Apple 5.01%
5: Microsoft Corp 4.76%
6: Facebook 4.44%
7: Becton Dickinson And 2.78%
8: Alibaba Group Holding 2.37%
9: Norfolk Southern Corp 2.35%
10: Northrop Grumman Corp 2.31%
Holdings represent 40.73% of portfolio
Top 10 holdings as of 07/31/17
1: Alphabet 6.21%
2: Amazon 5.43%
3: Visa 5.07%
4: Microsoft 4.69%
5: Apple 4.60%
6: Facebook 4.42%
7: Becton Dickinson And 2.84%
8: Norfolk Southern 2.52%
9: Northrop Grumman 2.38%
10: Home Depot 2.23%
Holdings represent 40.39% of portfolio

Portfolio Composition as of 10/31/17

Common stock 97.16%
Cash and net other assets 1.93%
Convertible preferred stock 0.91%

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.

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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 10/31/17

Information technology 41.01%
Consumer discretionary 16.17%
Health care 14.50%
Industrials 10.83%
Financials 6.71%
Consumer staples 3.35%
Materials 2.66%
Cash and net other assets 1.93%
Energy 1.77%
 
Other
1.07%
Real estate 1.07%

Expenses

Sales Charges/Fees

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

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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%