Putnam Allstate Advisor Plus

Putnam International Equity Subaccount

The subaccount seeks capital appreciation.

Fund description

Formerly Putnam International Growth Subaccount. The name change does not reflect a shift in subaccount objective or strategy.The subaccount invests in large and midsize international stocks, targeting companies with established earnings growth that are priced below their fundamental worth. The fund has no bias toward growth or value. It offers access to a broad range of investment opportunities in many markets of the world.

Sales story

Pursuing the growth potential of overseas marketsEstablished companies: The fund invests in established large and midsize companies mainly in developed markets to benefit from opportunities unfolding outside the United States.A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads international 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 08/16/19

with optional enhanced death benefits
Unit Value $10.192166 $9.894266
Unit Value Change 0.114336 0.110955

Lipper ranking ‡ as of 07/31/19

Category: International Multi-Cap Core

  Percentile ranking Rank/Funds in category
10 yrs. 31% 12/38
1 yr. 78% 59/75
3 yrs. 78% 53/67
5 yrs. 77% 50/64

International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. 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 07/31/19

Fiscal Year End December
Asset Class Putnam Allstate Advisor Plus
Subaccount Status Open to new investors
Number of issues 65
Turnover (fiscal year end) 68%
Net Assets $218M
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 5.35% 15.39% -4.54% 5.90% -0.74% 4.78% 3.71%
Standardized -2.65% 7.39% -12.17% 3.47% -1.96% 4.78% 3.71%
With optional enhanced death benefit
Unit Value 5.31% 15.30% -4.68% 5.74% -0.89% 4.62% 3.55%
Standardized -2.69% 7.30% -12.31% 3.30% -2.11% 4.62% 3.55%
Actual performance
Unit Value 5.35% 15.39% -4.54% 5.90% -0.74% 4.78% 0.13%
Standardized -2.65% 7.39% -12.17% 3.47% -1.96% 4.78% 0.13%
With optional enhanced death benefit
Unit Value 5.31% 15.30% -4.68% 5.74% -0.89% 4.62% -0.02%
Standardized -2.69% 7.30% -12.31% 3.30% -2.11% 4.62% -0.02%

Annual Performance at NAV

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
22.64% 8.27% -18.26% 19.96% 26.02% -8.27% -1.46% -4.01% 24.56% -20.42%
With optional enhanced death benefit
22.45% 8.10% -18.39% 19.78% 25.83% -8.41% -1.61% -4.16% 24.37% -20.54%

Restated performance

Monthly as of 07/31/19

Unit Value -1.87%
Standardized -9.72%

YTD as of 08/16/19

Unit Value 10.09%
Standardized 2.09%

With optional enhanced death benefit

Monthly as of 07/31/19

Unit Value -1.88%
Standardized -9.73%

YTD as of 08/16/19

Unit Value 9.99%
Standardized 1.99%

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. 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 07/31/19

Alpha (%) -1.93
Beta 1.09
R Squared 0.94
Standard Deviation (3 yrs.) 12.07

Holdings

Top 10 holdings as of 07/31/19

Novartis Ag 3.83%
Prudential 3.54%
Aia Group 3.09%
Axa 2.68%
Airbus 2.64%
Astrazeneca 2.60%
Sony Corp 2.56%
Unilever Nv 2.44%
Veolia Environnement 2.36%
Toyota Motor Corp 2.35%
Top 10 holdings, total: 28.09%

Full Portfolio Holdings as of 06/30/19

NOVARTIS AG-REG 3.70%
PRUDENTIAL PLC 3.63%
AIA GROUP LTD 3.18%
AXA SA 2.70%
AIRBUS SE 2.57%
UNILEVER NV-CVA 2.50%
ASTRAZENECA PLC 2.40%
SONY CORP 2.28%
BP PLC 2.24%
VEOLIA ENVIRONNEMENT 2.22%
CRH PLC 2.11%
TOTAL SA 2.04%
KERING 2.02%
SUMITOMO MITSUI FINANCIAL GR 2.02%
COCA-COLA HBC AG-DI 1.98%
TOYOTA MOTOR CORP 1.97%
HOYA CORP 1.95%
ADIDAS AG 1.93%
ASAHI GROUP HOLDINGS LTD 1.81%
RHEINMETALL AG 1.81%
ASHTEAD GROUP PLC 1.80%
SOFTBANK GROUP CORP 1.70%
HEINEKEN NV 1.70%
DEUTSCHE BOERSE AG 1.63%
HONG KONG EXCHANGES & CLEAR 1.62%
COMPASS GROUP PLC 1.61%
ALCON INC 1.60%
HDFC BANK LTD-ADR 1.58%
BARRY CALLEBAUT AG-REG 1.51%
VODAFONE GROUP PLC 1.46%
SAMSUNG ELECTRONICS-PREF 1.43%
VINCI SA 1.43%
KERRY GROUP PLC-A 1.40%
DASSAULT SYSTEMES SA 1.40%
KONINKLIJKE DSM NV 1.40%
LINDE PLC 1.34%
ANGLO AMER PLC 1.32%
NESTLE SA-REG 1.32%
CELLNEX TELECOM SA 1.29%
ASSA ABLOY AB-B 1.29%
LLOYDS BANKING GROUP PLC 1.28%
LONZA GROUP AG-REG 1.24%
ASSOCIATED BRITISH FOODS PLC 1.24%
QBE INSURANCE GROUP LTD 1.21%
IMPERIAL BRANDS PLC 1.21%
NXP SEMICONDUCTORS NV 1.17%
MITSUBISHI CORP 1.11%
DAIKIN INDUSTRIES LTD 1.11%
KONINKLIJKE AHOLD DELHAIZE N 1.09%
FORTUM OYJ 1.08%
YUM CHINA HOLDINGS INC 1.08%
SSE PLC 1.07%
BANK OF IRELAND GROUP PLC 1.00%
SIG COMBIBLOC GROUP AG 0.99%
QANTAS AIRWAYS LTD 0.93%
EURAZEO SE 0.84%
PIRELLI & C SPA 0.79%
SEVEN & I HOLDINGS CO LTD 0.74%
MINEBEA CO LTD 0.62%
QUILTER PLC 0.56%
NATIXIS 0.52%
NESTLE INDIA LTD 0.50%
TREASURY BILL 00.0000 07/18/2019 0.16%
TREASURY BILL 00.0000 07/25/2019 0.09%
JPY/USD 08/21/2019 JPMCB 0.07%
JPY/USD 08/21/2019 SSBT 0.07%
JPY/USD 08/21/2019 BANKAM 0.03%
CAD/USD 07/17/2019 BCAP-FX 0.02%
DKK/USD 09/18/2019 CITI 0.02%
CAD/USD 07/17/2019 JPMCB 0.02%
SEK/USD 09/18/2019 JPMCB 0.02%
GLOBAL FASHION GRP P/P 0.02%
CNH/USD 08/21/2019 HSBCB 0.02%
GLOBAL FASHION GRP 0.02%
NOK/USD 09/18/2019 JPMCB 0.02%
SGD/USD 08/21/2019 JPMCB 0.01%
EUR/USD 09/18/2019 BANKAM 0.01%
CAD/USD 07/17/2019 CITI 0.00%
ILS/USD 07/17/2019 SSBT 0.00%
EUR/USD 09/18/2019 GSFX 0.00%
JPY/USD 08/21/2019 GSFX 0.00%
CHF/USD 09/18/2019 JPMCB 0.00%
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%
TWD/USD 08/21/2019 GSFX 0.00%
GBP/USD 09/18/2019 CITI -0.00%
JPY/USD 08/21/2019 CITI -0.00%
GBP/USD 09/18/2019 GSFX -0.00%
GBP/USD 09/18/2019 BCAP-FX -0.00%
KRW/USD 08/21/2019 JPMCB -0.00%
NZD/USD 07/17/2019 CITI -0.00%
AUD/USD 07/17/2019 HSBCB -0.00%
AUD/USD 07/17/2019 SSBT -0.00%
HKD/USD 08/21/2019 BCAP-FX -0.00%
GBP/USD 09/18/2019 BANKAM -0.01%
EUR/USD 09/18/2019 HSBCB -0.01%
EUR/USD 09/18/2019 BCAP-FX -0.02%
AUD/USD 07/17/2019 CITI -0.02%
AUD/USD 07/17/2019 JPMCB -0.03%
CHF/USD 09/18/2019 BCAP-FX -0.04%

Prior top 10 holdings

Top 10 holdings as of 07/31/19
1: Novartis Ag 3.83%
2: Prudential 3.54%
3: Aia Group 3.09%
4: Axa 2.68%
5: Airbus 2.64%
6: Astrazeneca 2.60%
7: Sony Corp 2.56%
8: Unilever Nv 2.44%
9: Veolia Environnement 2.36%
10: Toyota Motor Corp 2.35%
Holdings represent 28.09% of portfolio
Top 10 holdings as of 06/30/19
1: Novartis Ag 3.70%
2: Prudential 3.63%
3: Aia Group 3.18%
4: Axa 2.70%
5: Airbus 2.57%
6: Unilever Nv 2.50%
7: Astrazeneca 2.40%
8: Sony Corp 2.28%
9: Bp 2.24%
10: Veolia Environnement 2.22%
Holdings represent 27.42% of portfolio
Top 10 holdings as of 05/31/19
1: Novartis Ag 3.48%
2: Prudential 3.22%
3: Aia Group 2.90%
4: Bp 2.83%
5: Unilever Nv 2.61%
6: Airbus 2.45%
7: Astrazeneca 2.28%
8: Sony Corp 2.21%
9: Crh 2.13%
10: Sumitomo Mitsui Financial Group 2.08%
Holdings represent 26.19% of portfolio
Top 10 holdings as of 04/30/19
1: Unilever Nv 3.27%
2: Prudential 3.21%
3: Novartis Ag 3.00%
4: Aia Group 2.99%
5: Bp 2.87%
6: Rio Tinto 2.58%
7: Airbus 2.47%
8: Total 2.33%
9: Sumitomo Mitsui Financial Group 2.26%
10: Astrazeneca 2.18%
Holdings represent 27.16% of portfolio

Portfolio Composition as of 07/31/19

Common stock 95.21%
Cash and net other assets 3.40%
Preferred stock 1.39%

Portfolio allocations 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. 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 07/31/19

Financials 20.84%
Consumer staples 16.53%
Industrials 13.00%
Consumer discretionary 12.47%
Health care 11.11%
Materials 7.44%
Utilities 4.55%
Information technology 4.04%
Communication services 4.02%
 
Other
6.00%
Cash and net other assets 3.40%
Energy 2.60%

Country Allocation as of 07/31/19

United Kingdom 19.76%
Japan 15.10%
France 14.80%
Switzerland 12.53%
Netherlands 6.69%
Germany 5.18%
Hong Kong 4.69%
Ireland 4.38%
Cash and net other assets 3.40%
 
Other
13.47%
United States 2.60%
Australia 2.26%
India 1.43%
South Korea 1.39%
Sweden 1.35%
Spain 1.34%
Finland 1.16%
China 1.10%
Italy 0.81%
Luxembourg 0.03%

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. 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 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%