Putnam Allstate Advisor Plus

Putnam Global Equity Subaccount

The subaccount seeks capital appreciation.

Putnam Global Equity Subaccount

Fund description

The subaccount targets midsize and large industry leaders with consistent earnings growth improvement and the likelihood of positive earnings surprises. The fund managers seek companies in the U.S. and abroad with high rates of growth and dominant market share.

Sales story

Selecting companies around the world that are attractive for investorsEstablished companies: The fund invests in large and midsize companies in the United States and developed international markets to benefit from global opportunities.A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads global markets.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 09/30/20

with optional enhanced death benefits
Unit Value $10.141128 $9.828013
Unit Value Change 0.041702 0.040374

Lipper ranking ‡ as of 08/31/20

Category: Global Multi-Cap Growth Fds

  Percentile ranking Rank/Funds in category
10 yrs. 85% 11/12
1 yr. 90% 17/18
3 yrs. 89% 16/17
5 yrs. 89% 15/16

‡ 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 08/31/20

Fiscal Year End December
Asset Class Putnam Allstate Advisor Plus
Subaccount Status Open to new investors
Number of issues 68
Turnover (fiscal year end) 42%
Net Assets $203M
Inception Date 05/01/90

Performance

Performance as of 09/30/20

Annualized Performance Last Quarter Year
to Date		 1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 7.05% -1.67% 5.18% 3.43% 6.50% 7.21% 4.55%
Standardized -0.95% -9.54% -2.82% 0.88% 5.55% 7.21% 4.55%
With optional enhanced death benefit
Unit Value 7.01% -1.78% 5.02% 3.28% 6.34% 7.05% 4.53%
Standardized -0.99% -9.64% -2.98% 0.71% 5.38% 7.05% 4.53%
Actual performance
Unit Value 7.05% -1.67% 5.18% 3.43% 6.50% 7.21% -0.23%
Standardized -0.95% -9.54% -2.82% 0.88% 5.55% 7.21% -0.23%
With optional enhanced death benefit
Unit Value 7.01% -1.78% 5.02% 3.28% 6.34% 7.05% -0.38%
Standardized -0.99% -9.64% -2.98% 0.71% 5.38% 7.05% -0.38%

Annual Performance at NAV

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
8.08% -6.47% 18.25% 29.87% -0.15% -3.28% -0.54% 26.33% -13.84% 24.57%
With optional enhanced death benefit
7.91% -6.61% 18.07% 29.67% -0.31% -3.43% -0.69% 26.14% -13.97% 24.38%

Restated performance

Monthly as of 09/30/20

Unit Value -2.91%
Standardized -10.67%

YTD as of 09/30/20

Unit Value -1.67%
Standardized -9.54%

With optional enhanced death benefit

Monthly as of 09/30/20

Unit Value -2.92%
Standardized -10.69%

YTD as of 09/30/20

Unit Value -1.78%
Standardized -9.64%

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.

Risk Characteristics as of 08/31/20

Alpha (%) -3.45
Beta 1.08
R Squared 0.96
Standard Deviation (3 yrs.) 18.28

Holdings

Amazon.Com 5.85%
Nrg Energy 4.78%
Microsoft Corp 4.30%
Nomad Foods 2.86%
Servicenow 2.81%
Union Pacific Corp 2.43%
Visa 2.15%
Sig Combibloc Group Ag 2.03%
Alphabet 2.03%
Danaher Corp 1.99%
Top 10 holdings, total: 31.23%

Top 10 holdings as of 08/31/20
1: Amazon.Com 5.85%
2: Nrg Energy 4.78%
3: Microsoft Corp 4.30%
4: Nomad Foods 2.86%
5: Servicenow 2.81%
6: Union Pacific Corp 2.43%
7: Visa 2.15%
8: Sig Combibloc Group Ag 2.03%
9: Alphabet 2.03%
10: Danaher Corp 1.99%
Holdings represent 31.23% of portfolio
Top 10 holdings as of 07/31/20
1: Amazon.Com 5.57%
2: Nrg Energy 4.79%
3: Microsoft Corp 4.06%
4: Nomad Foods 2.78%
5: Servicenow 2.66%
6: Union Pacific Corp 2.27%
7: Danaher Corp 2.04%
8: Visa 2.01%
9: Nestle 1.97%
10: Alphabet 1.91%
Holdings represent 30.06% of portfolio
Top 10 holdings as of 06/30/20
1: Amazon.Com 5.13%
2: Nrg Energy 4.88%
3: Microsoft Corp 4.26%
4: Nomad Foods 3.13%
5: Servicenow 2.58%
6: Union Pacific Corp 2.35%
7: Visa 2.16%
8: Assured Guaranty 1.98%
9: Nestle 1.95%
10: Alphabet 1.94%
Holdings represent 30.36% of portfolio
Top 10 holdings as of 05/31/20
1: Nrg Energy 5.12%
2: Amazon.Com 4.69%
3: Microsoft Corp 3.97%
4: Nomad Foods 3.20%
5: Servicenow 2.55%
6: Union Pacific Corp 2.44%
7: Visa 2.26%
8: Assured Guaranty 2.17%
9: Alphabet 2.00%
10: Nestle 1.98%
Holdings represent 30.38% of portfolio

Portfolio Composition as of 08/31/20

Common stock 98.25%
Cash and net other assets 1.75%

Consider these risks before investing: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund. 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 08/31/20

Information technology 22.27%
Consumer discretionary 11.87%
Health care 11.20%
Consumer staples 11.18%
Industrials 10.70%
Financials 8.76%
Materials 8.37%
Utilities 4.78%
Communication services 4.45%
 
Other		 6.42%
Energy 3.32%
Cash and net other assets 1.75%
Real estate 1.35%

Country Allocation as of 08/31/20

United States 68.39%
United Kingdom 7.85%
Switzerland 5.12%
Japan 4.64%
Canada 4.05%
Australia 1.77%
Cash and net other assets 1.75%
Ireland 1.65%
France 1.60%
 
Other		 3.18%
South Korea 1.11%
China 1.10%
Taiwan 0.97%

Expenses

Sales Charges/Fees

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

CDSC

Year Percent
1 8.00%
2 8.00%
3 8.00%
4 7.00%
5 6.00%
6 5.00%
7 4.00%
8 3.00%
9+ 0.00%