Putnam Allstate Advisor Plus

Putnam Research Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in stocks representing the best ideas of Putnam's global equity research analysts. The portfolio typically consists of large, U.S. companies believed to be worth more than their current stock prices indicate. The fund is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking to capitalize on the expertise of Putnam's research teamA best-ideas fund: The fund represents the stock selections of Putnam's Global Equity Research Group, whose analysts cover more than 1,000 companies.A flexible strategy: The fund can own growth- or value-style stocks, allowing it to seek opportunities regardless of which style is in favor.A rigorous process: The fund's experienced managers use rigorous fundamental investment research to oversee the portfolio and manage risk.

Management team

Daily pricing as of 04/18/19

with optional enhanced death benefits
Unit Value $19.430718 $18.872108
Unit Value Change -- --

Lipper ranking ‡ as of 03/31/19

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 17% 19/116
1 yr. 39% 62/161
3 yrs. 17% 25/151
5 yrs. 36% 52/145

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ 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 03/31/19

Fiscal Year End December
Asset Class Putnam Allstate Advisor Plus
Subaccount Status Open to new investors
Number of issues 152
Turnover (fiscal year end) 76%
Net Assets $45M
Inception Date 10/01/98

Performance

Performance as of 03/31/19

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 12.95% 12.95% 6.80% 12.01% 8.32% 13.90% 4.81%
Standardized 4.95% 4.95% -1.20% 9.84% 7.43% 13.90% 4.81%
With optional enhanced death benefit
Unit Value 12.91% 12.91% 6.64% 11.84% 8.15% 13.73% 4.65%
Standardized 4.91% 4.91% -1.36% 9.66% 7.26% 13.73% 4.65%
Actual performance
Unit Value 12.95% 12.95% 6.80% 12.01% 8.32% 13.90% 3.17%
Standardized 4.95% 4.95% -1.20% 9.84% 7.43% 13.90% 3.17%
With optional enhanced death benefit
Unit Value 12.91% 12.91% 6.64% 11.84% 8.15% 13.73% 3.01%
Standardized 4.91% 4.91% -1.36% 9.66% 7.26% 13.73% 3.01%

Annual Performance at NAV

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
31.06% 14.52% -3.32% 16.03% 31.23% 13.02% -3.12% 8.32% 21.38% -6.24%
With optional enhanced death benefit
30.86% 14.34% -3.46% 15.85% 31.03% 12.85% -3.27% 8.16% 21.20% -6.39%

Restated performance

Monthly as of 03/31/19

Unit Value 1.86%
Standardized -6.14%

YTD as of 04/18/19

Unit Value 16.81%
Standardized 8.81%

With optional enhanced death benefit

Monthly as of 03/31/19

Unit Value 1.85%
Standardized -6.15%

YTD as of 04/18/19

Unit Value 16.76%
Standardized 8.76%

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.

Recent performance benefited from a settlement from Household International, a unit of HSBC Holdings Plc.

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.

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.

The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

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 03/31/19

Alpha (%) 0.81
Beta 0.96
R Squared 0.97
Standard Deviation (3 yrs.) 10.31

Holdings

Top 10 holdings as of 03/31/19

Microsoft Corp 4.03%
Alphabet 3.02%
Amazon.Com 2.91%
Apple 2.66%
Bank Of America Corp 2.11%
Honeywell International 1.82%
Facebook 1.81%
Visa 1.75%
Coca-Cola The 1.75%
Home Depot 1.71%
Top 10 holdings, total: 23.57%

Full Portfolio Holdings as of 12/31/18

MICROSOFT CORP 3.95%
ALPHABET INC-CL A 3.07%
AMAZON.COM INC 2.90%
APPLE INC 2.67%
BANK OF AMERICA CORP 2.16%
COCA-COLA CO/THE 2.13%
VISA INC-CLASS A SHARES 1.93%
HOME DEPOT INC 1.77%
PROCTER & GAMBLE CO/THE 1.66%
FACEBOOK INC-CLASS A 1.62%
DANAHER CORP 1.57%
BP PLC 1.56%
HONEYWELL INTERNATIONAL INC 1.51%
QUALCOMM INC 1.42%
CITIGROUP INC 1.40%
MERCK & CO. INC. 1.28%
GENERAL MOTORS CO 1.19%
DOWDUPONT INC 1.11%
CENOVUS ENERGY INC 1.10%
UNION PACIFIC CORP 1.10%
BECTON DICKINSON AND CO 1.09%
EMERSON ELECTRIC CO 1.09%
SALESFORCE.COM INC 1.08%
CIGNA CORP 1.06%
ACTIVISION BLIZZARD INC 1.05%
BOEING CO/THE 1.05%
GOLDMAN SACHS GROUP INC 1.05%
ADOBE INC 1.04%
KKR & CO INC -A 1.04%
UNITEDHEALTH GROUP INC 1.04%
PFIZER INC 1.02%
JPMORGAN CHASE & CO 1.00%
AMERICAN ELECTRIC POWER 0.99%
PRUDENTIAL PLC 0.94%
INTEL CORP 0.88%
NXP SEMICONDUCTORS NV 0.88%
JOHNSON & JOHNSON 0.87%
ROPER TECHNOLOGIES INC 0.87%
ASSURED GUARANTY LTD 0.86%
WALMART INC 0.84%
WELLS FARGO & CO 0.83%
AT&T INC 0.80%
WASTE CONNECTIONS INC 0.80%
DXC TECHNOLOGY CO 0.78%
E*TRADE FINANCIAL CORPORATION 0.77%
RAYMOND JAMES FINANCIAL INC 0.75%
EXELON CORP 0.73%
TWENTY-FIRST CENTURY FOX-A 0.73%
EXXON MOBIL CORP 0.71%
SHERWIN-WILLIAMS CO/THE 0.71%
KINDER MORGAN INC 0.70%
NRG ENERGY INC 0.70%
NIKE INC -CL B 0.68%
HILTON WORLDWIDE HOLDINGS IN 0.67%
BLACKROCK INC 0.66%
BOOKING HOLDINGS INC 0.66%
ELI LILLY & CO 0.66%
VERIZON COMMUNICATIONS INC 0.66%
COMCAST CORP-CLASS A 0.65%
CHARTER COMMUNICATIONS INC-A 0.64%
HERSHEY CO/THE 0.63%
NCSOFT CORP 0.63%
NETEASE INC-ADR 0.63%
PEPSICO INC 0.59%
AMGEN INC 0.58%
BIOGEN INC 0.57%
JOHNSON CONTROLS INTERNATION 0.57%
NORFOLK SOUTHERN CORP 0.56%
AMERICAN INTERNATIONAL GROUP 0.54%
MCCORMICK & CO-NON VTG SHRS 0.54%
TJX COMPANIES INC 0.54%
YUM CHINA HOLDINGS INC 0.54%
FORTIVE CORP 0.53%
NEXTERA ENERGY INC 0.53%
CLOROX COMPANY 0.52%
ENTERPRISE PRODUCTS PARTNERS 0.51%
VERTEX PHARMACEUTICALS INC 0.51%
ON SEMICONDUCTOR CORP 0.50%
CHIPOTLE MEXICAN GRILL INC 0.49%
INTERCONTINENTAL EXCHANGE IN 0.49%
SBA COMMUNICATIONS CORP 0.49%
TEXTRON INC 0.49%
BAXTER INTERNATIONAL INC 0.47%
BJ'S WHOLESALE CLUB HOLDINGS 0.47%
DUKE ENERGY CORP 0.47%
INTUITIVE SURGICAL INC 0.47%
COSTCO WHOLESALE CORP 0.45%
EVERBRIDGE INC 0.45%
FMC CORP 0.45%
FIRST DATA CORP- CLASS A 0.44%
WYNN RESORTS LTD 0.44%
COOPER COS INC/THE 0.43%
GAMING AND LEISURE PROPERTIE 0.43%
FIDELITY NATIONAL INFO SERV 0.42%
METTLER-TOLEDO INTERNATIONAL 0.42%
YELLOW CAKE PLC 0.42%
CONOCOPHILLIPS 0.41%
ICU MEDICAL INC 0.41%
CHUBB LTD 0.40%
ANADARKO PETROLEUM CORP 0.38%
DOMINION ENERGY INC 0.37%
JAZZ PHARMACEUTICALS PLC 0.37%
LIVE NATION ENTERTAINMENT IN 0.36%
WALGREENS BOOTS ALLIANCE INC 0.35%
BALL CORP 0.34%
TENCENT HOLDINGS LTD 0.34%
CELGENE CORP 0.33%
BOSTON SCIENTIFIC CORP 0.32%
DEERE & CO 0.32%
GILEAD SCIENCES INC 0.29%
ADVANCE AUTO PARTS 0.28%
ABBVIE INC 0.27%
EDWARDS LIFESCIENCES CORP 0.27%
GODADDY INC - CLASS A 0.27%
SUMMIT MATERIALS INC -CL A 0.27%
CAIRN ENERGY PLC 0.26%
MGM RESORTS INTERNATIONAL 0.25%
BURLINGTON STORES INC 0.21%
O'REILLY AUTOMOTIVE INC 0.20%
CENTERPOINT ENERGY INC 0.19%
REGENERON PHARMACEUTICALS 0.19%
NOBLE ENERGY INC 0.18%
ALCOA CORP 0.13%
BRISTOL-MYERS SQUIBB CO 0.13%
ALIBABA GROUP HOLDING-SP ADR 0.12%
ECOLAB INC 0.12%
EDISON INTERNATIONAL 0.12%
W.R. GRACE & CO 0.11%
APOLLO GLOBAL MANAGEMENT - A 0.09%
FORTUNE BRANDS HOME & SECURI 0.08%
CELANESE CORP 0.07%
OPORTUN FIN CORP P/P SERIES H PFD 0.07%
RPM INTERNATIONAL INC 0.07%
OPORTUN FIN G-1 PFD CV P/P 0.05%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.04%
P G & E CORP 0.03%
RU20INTR P USL1M R 12/15/20 GS 0.03%
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%
CAD/USD 01/16/2019 GSFX 0.00%
CAD/USD 01/16/2019 JPMCB 0.00%
CNH/USD 02/20/2019 GSFX 0.00%
EUR/USD 03/20/2019 BANKAM 0.00%
GBP/USD 03/20/2019 BANKAM 0.00%
ILS/USD 01/16/2019 SSBT 0.00%
KRW/USD 02/20/2019 JPMCB 0.00%
NOK/USD 03/20/2019 JPMCB 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%
GBP/USD 03/20/2019 BCAP-FX -0.01%
GBP/USD 03/20/2019 GSFX -0.01%
GBP/USD 03/20/2019 JPMCB -0.01%
S&P500 EMINI FUT MAR19 ESH9 -0.05%

Prior top 10 holdings

Top 10 holdings as of 03/31/19
1: Microsoft Corp 4.03%
2: Alphabet 3.02%
3: Amazon.Com 2.91%
4: Apple 2.66%
5: Bank Of America Corp 2.11%
6: Honeywell International 1.82%
7: Facebook 1.81%
8: Visa 1.75%
9: Coca-Cola The 1.75%
10: Home Depot 1.71%
Holdings represent 23.57% of portfolio
Top 10 holdings as of 02/28/19
1: Microsoft Corp 3.90%
2: Alphabet 2.94%
3: Amazon.Com 2.84%
4: Apple 2.47%
5: Bank Of America Corp 2.26%
6: Visa 1.92%
7: Facebook 1.79%
8: Coca-Cola The 1.73%
9: Home Depot The 1.69%
10: Honeywell International 1.69%
Holdings represent 23.23% of portfolio
Top 10 holdings as of 01/31/19
1: Microsoft Corp 3.71%
2: Amazon.Com 3.03%
3: Alphabet 2.99%
4: Apple 2.42%
5: Bank Of America Corp 2.26%
6: Coca-Cola The 1.97%
7: Facebook 1.88%
8: Visa 1.78%
9: Home Depot The 1.71%
10: Citigroup 1.61%
Holdings represent 23.36% of portfolio
Top 10 holdings as of 12/31/18
1: Microsoft Corp 3.95%
2: Alphabet 3.07%
3: Amazon.Com 2.90%
4: Apple 2.67%
5: Bank Of America Corp 2.16%
6: Coca-Cola The 2.13%
7: Visa 1.93%
8: Home Depot The 1.77%
9: Procter Gamble The 1.66%
10: Facebook 1.62%
Holdings represent 23.86% of portfolio

Portfolio Composition as of 03/31/19

Common stock 98.77%
Cash and net other assets 1.06%
Convertible preferred stock 0.17%

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.

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

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.

Top Industry Sectors as of 03/31/19

Information technology 18.05%
Health care 14.05%
Financials 13.40%
Consumer discretionary 10.99%
Communication services 10.75%
Industrials 9.10%
Consumer staples 7.94%
Energy 5.19%
Utilities 4.07%
 
Other
6.46%
Materials 3.97%
Real estate 1.43%
Cash and net other assets 1.06%

Expenses

Sales Charges/Fees

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

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ 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%