Putnam Allstate Advisor Plus

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 10/16/19

with optional enhanced death benefits
Unit Value $8.076955 $7.838847
Unit Value Change -0.000357 -0.000379

Lipper ranking ‡ as of 09/30/19

Category: International Multi-Cp Gro Fds

  Percentile ranking Rank/Funds in category
10 yrs. 78% 47/60
1 yr. 94% 68/72
3 yrs. 80% 54/67
5 yrs. 86% 58/67

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 09/30/19

Fiscal Year End December
Asset Class Putnam Allstate Advisor Plus
Subaccount Status Open to new investors
Number of issues 80
Turnover (fiscal year end) 89%
Net Assets $32M
Inception Date 01/02/97

Performance

Performance as of 09/30/19

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value -2.62% 12.79% -7.36% 3.58% 0.87% 3.11% 2.82%
Standardized -10.41% 4.79% -14.77% 1.03% -0.32% 3.11% 2.82%
With optional enhanced death benefit
Unit Value -2.65% 12.66% -7.50% 3.43% 0.71% 2.95% 2.66%
Standardized -10.44% 4.66% -14.90% 0.87% -0.48% 2.95% 2.66%
Actual performance
Unit Value -2.62% 12.79% -7.36% 3.58% 0.87% 3.11% -1.44%
Standardized -10.41% 4.79% -14.77% 1.03% -0.32% 3.11% -1.44%
With optional enhanced death benefit
Unit Value -2.65% 12.66% -7.50% 3.43% 0.71% 2.95% -1.59%
Standardized -10.44% 4.66% -14.90% 0.87% -0.48% 2.95% -1.59%

Annual Performance at NAV

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
36.15% 10.41% -19.21% 19.07% 20.41% -7.65% -0.50% -8.21% 32.89% -19.95%
With optional enhanced death benefit
35.94% 10.24% -19.33% 18.89% 20.23% -7.79% -0.65% -8.35% 32.69% -20.07%

Restated performance

Monthly as of 09/30/19

Unit Value 1.58%
Standardized -6.42%

YTD as of 10/16/19

Unit Value 15.07%
Standardized 7.07%

With optional enhanced death benefit

Monthly as of 09/30/19

Unit Value 1.57%
Standardized -6.43%

YTD as of 10/16/19

Unit Value 14.93%
Standardized 6.93%

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 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. 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 09/30/19

Alpha (%) -3.14
Beta 1.10
R Squared 0.91
Standard Deviation (3 yrs.) 13.01

Holdings

Top 10 holdings as of 09/30/19

Unilever Nv 3.04%
Airbus 2.66%
Astrazeneca 2.66%
Visa 2.17%
Heineken Nv 2.14%
Constellation Software Canada 2.11%
Hdfc Bank 2.11%
Prudential 2.11%
Asahi Group Holdings 2.04%
Tencent Holdings 2.04%
Top 10 holdings, total: 23.08%

Full Portfolio Holdings as of 09/30/19

UNILEVER NV SEDOL B1527V7 3.04%
AIRBUS SE SEDOL 4012250 2.66%
ASTRAZENECA PLC SEDOL 0989529 2.66%
VISA INC-CLASS A SHARES SEDOL B2PZN04 2.17%
HEINEKEN NV SEDOL 7792559 2.14%
CONSTELLATION SOFTWARE INC SEDOL B15C4L6 2.11%
HDFC BANK LIMITED SEDOL BK1N461 2.11%
PRUDENTIAL PLC SEDOL 0709954 2.11%
ASAHI GROUP HOLDINGS LTD SEDOL 6054409 2.04%
TENCENT HOLDINGS LTD SEDOL BMMV2K8 2.04%
ASHTEAD GROUP PLC SEDOL 0053673 2.02%
ASML HOLDING NV SEDOL B929F46 2.00%
QBE INSURANCE GROUP LTD SEDOL 6715740 1.99%
ORPEA SEDOL 7339451 1.93%
ADIDAS AG SEDOL 4031976 1.92%
SHISEIDO CO LTD SEDOL 6805265 1.85%
NOVARTIS AG-REG SEDOL 7103065 1.84%
RHEINMETALL AG SEDOL 5334588 1.82%
AIA GROUP LTD SEDOL B4TX8S1 1.80%
DALATA HOTEL GROUP PLC SEDOL BJMZDW8 1.75%
DASSAULT SYSTEMES SA SEDOL 5330047 1.71%
KERING SEDOL 5505072 1.69%
FREEPORT-MCMORAN INC SEDOL 2352118 1.58%
COMPASS GROUP PLC SEDOL BD6K457 1.56%
MERCK & CO. INC. SEDOL 2778844 1.56%
PALTAC CORPORATION SEDOL B61BG94 1.53%
RENESAS ELECTRONICS CORP SEDOL 6635677 1.47%
DIAGEO PLC SEDOL 0237400 1.35%
SINO-AMERICAN SILICON PRODUC SEDOL 6335278 1.30%
OPEN HOUSE CO LTD SEDOL BD3D170 1.30%
SCREEN HOLDINGS CO LTD SEDOL 6251028 1.29%
NXP SEMICONDUCTORS NV SEDOL B505PN7 1.28%
DEUTSCHE BOERSE AG SEDOL 7021963 1.27%
GRIEG SEAFOOD ASA SEDOL B1Y1P66 1.26%
AIR CANADA SEDOL BSDHYK1 1.26%
CAIRN ENERGY PLC SEDOL B74CDH8 1.21%
DINO POLSKA SA SEDOL BD0YVN2 1.21%
IRB BRASIL RESSEGUROS SA SEDOL BYZ6D56 1.20%
RELIANCE INDUSTRIES LTD SEDOL 6099626 1.20%
DAIHO CORP SEDOL 6250360 1.17%
SOLASTO CORP SEDOL BD97240 1.14%
NOVOZYMES A/S-B SHARES SEDOL B798FW0 1.09%
QUILTER PLC SEDOL BDCXV26 1.08%
CLINIGEN GROUP PLC SEDOL B89J241 1.07%
A-LIVING SVCS CO LTD SEDOL BFWK4M2 1.06%
FU SHOU YUAN INTERNATIONAL SEDOL BH4TZ73 1.06%
COCA-COLA HBC AG-DI SEDOL B9895B7 1.00%
SOFTBANK GROUP CORP SEDOL 6770620 0.98%
SONY CORP SEDOL 6821506 0.97%
TALEND SA - ADR SEDOL BD39HN6 0.97%
LOGAN PROPERTY HOLDINGS CO L SEDOL BH6X937 0.94%
ARITZIA INC-SUBORDINATE VOTI SEDOL BDCG2C2 0.94%
CTS EVENTIM AG & CO KGAA SEDOL 5881857 0.89%
MEDIA NUSANTARA CITRA TBK PT SEDOL B1Z5HY9 0.89%
JARIR MARKETING CO 144A/REGS WARRANT 02/04/2020 0.88%
ATACADAO SA SEDOL BF7LBH4 0.88%
PIRELLI & C SPA SEDOL BZ5ZHK3 0.86%
OUTSOURCING INC SEDOL B03XKH2 0.80%
DAIKIN INDUSTRIES LTD SEDOL 6250724 0.78%
ALPHABET INC-CL A SEDOL BYVY8G0 0.74%
GVC HOLDINGS PLC SEDOL B5VQMV6 0.72%
OCI NV SEDOL BD4TZK8 0.72%
BURFORD CAPITAL LTD SEDOL B4L8497 0.71%
KONINKLIJKE DSM NV SEDOL B0HZL93 0.71%
ING GROEP NV-CVA SEDOL 7154182 0.69%
YANDEX NV-A SEDOL B5BSZB3 0.67%
DART GROUP PLC SEDOL B1722W1 0.62%
PAGSEGURO DIGITAL LTD-CL A SEDOL BFWK4R7 0.61%
CHENIERE ENERGY INC SEDOL 2654364 0.57%
BOSIDENG INTL HLDGS LTD SEDOL B24FZ32 0.56%
COMMERCIAL INTL BANK-GDR REG SEDOL 5668287 0.52%
SAFARICOM PLC SEDOL B2QN3J6 0.51%
KERRY GROUP PLC-A SEDOL 4519579 0.50%
KOMATSU LTD SEDOL 6496584 0.45%
BANK TABUNGAN PENSIUNAN NASI SEDOL BFNBJ41 0.42%
TCI CO LTD SEDOL B6X51B1 0.39%
JPY/USD 11/20/2019 GSFX 0.04%
CAD/USD 10/16/2019 CITI 0.02%
CAD/USD 10/16/2019 SSBT 0.02%
CNH/USD 11/20/2019 JPMCB 0.02%
GBP/USD 12/18/2019 BCAP-FX 0.02%
CAD/USD 10/16/2019 JPMCB 0.01%
ILS/USD 10/16/2019 SSBT 0.01%
PLN/USD 12/18/2019 BCAP-FX 0.01%
BRL/USD 02/04/2020 BANKAM 0.01%
DKK/USD 12/18/2019 CITI 0.01%
JPY/USD 11/20/2019 SSBT 0.01%
AUD/USD 10/16/2019 BCAP-FX 0.00%
CNH/USD 11/20/2019 HSBCB 0.00%
JPY/USD 11/20/2019 BCAP-FX 0.00%
NOK/USD 12/18/2019 JPMCB 0.00%
GLOBAL FASHION GRP P/P 0.00%
CAD/USD 10/16/2019 HSBCB 0.00%
HKD/USD 11/20/2019 BCAP-FX 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%
JPY/USD 11/20/2019 CSI-FX -0.00%
EUR/USD 12/18/2019 CITI -0.00%
CNH/USD 11/20/2019 CITI -0.00%
SEK/USD 12/18/2019 JPMCB -0.00%
NOK/USD 12/18/2019 HSBCB -0.00%
JPY/USD 11/20/2019 BANKAM -0.01%
SGD/USD 11/20/2019 JPMCB -0.01%
EUR/USD 12/18/2019 GSFX -0.01%
JPY/USD 11/20/2019 JPMCB -0.01%
GBP/USD 12/18/2019 JPMCB -0.01%
EUR/USD 12/18/2019 HSBCB -0.01%
NZD/USD 10/16/2019 JPMCB -0.01%
AUD/USD 10/16/2019 RBSF -0.02%
CHF/USD 12/18/2019 JPMCB -0.04%
CHF/USD 12/18/2019 BCAP-FX -0.05%

Prior top 10 holdings

Top 10 holdings as of 09/30/19
1: Unilever Nv 3.04%
2: Airbus 2.66%
3: Astrazeneca 2.66%
4: Visa 2.17%
5: Heineken Nv 2.14%
6: Constellation Software Canada 2.11%
7: Hdfc Bank 2.11%
8: Prudential 2.11%
9: Asahi Group Holdings 2.04%
10: Tencent Holdings 2.04%
Holdings represent 23.08% of portfolio
Top 10 holdings as of 08/31/19
1: Unilever Nv 3.17%
2: Airbus 2.85%
3: Astrazeneca 2.68%
4: Visa 2.31%
5: Heineken Nv 2.13%
6: Constellation Software Canada 2.08%
7: Ashtead Group 2.03%
8: Orpea 2.02%
9: Qbe Insurance Group 2.01%
10: Prudential 1.95%
Holdings represent 23.23% of portfolio
Top 10 holdings as of 07/31/19
1: Unilever Nv 2.86%
2: Airbus 2.83%
3: Astrazeneca 2.50%
4: Visa 2.38%
5: Prudential 2.34%
6: Rheinmetall Ag 2.10%
7: Tencent Holdings 2.10%
8: Heineken Nv 2.08%
9: Aia Group 2.05%
10: Constellation Software Canada 1.97%
Holdings represent 23.21% of portfolio
Top 10 holdings as of 06/30/19
1: Unilever Nv 2.95%
2: Airbus 2.78%
3: Prudential 2.42%
4: Astrazeneca 2.33%
5: Visa 2.27%
6: Aia Group 2.24%
7: Rheinmetall Ag 2.19%
8: Heineken Nv 2.11%
9: Adidas AG 2.08%
10: Hdfc Bank 2.06%
Holdings represent 23.43% of portfolio

Portfolio Composition as of 09/30/19

Common stock 97.83%
Cash and net other assets 2.17%

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 09/30/19

Consumer staples 15.68%
Information technology 14.91%
Consumer discretionary 14.45%
Financials 13.89%
Industrials 12.64%
Health care 10.20%
Communication services 6.73%
Materials 4.11%
Energy 2.98%
 
Other
4.41%
Real estate 2.24%
Cash and net other assets 2.17%

Country Allocation as of 09/30/19

Japan 15.81%
United Kingdom 14.38%
Netherlands 9.31%
France 8.00%
United States 7.28%
Germany 5.91%
China 5.67%
Canada 4.30%
India 3.30%
 
Other
26.04%
Indonesia 2.89%
Switzerland 2.84%
Brazil 2.69%
Ireland 2.25%
Cash and net other assets 2.17%
Australia 1.99%
Hong Kong 1.80%
Taiwan 1.69%
Norway 1.26%
Poland 1.21%
Denmark 1.09%
Saudi Arabia 0.88%
Italy 0.86%
Isle of Man 0.72%
Russia 0.67%
Egypt 0.52%
Kenya 0.51%

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 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%