‡ 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.
Putnam Advisor Preferred
Putnam Focused International Equity Subaccount
The subaccount seeks capital appreciation.
Fund description
The subaccount targets non-U.S. companies with high and sustainable returns on capital, low leverage, and a record of intelligent capital allocation. The portfolio managers aim to acquire stocks at steep discounts to their intrinsic value, and the portfolio will focus on 25 to 35 stocks.
Sales story
Pursuing growth from high-quality but undervalued non-U.S. companiesQuality companies The fund invests in developed and emerging markets, seeking high-quality companies trading at deep discounts to their value.Wide moat advantages We seek companies that have high and sustainable returns on capital, low debt, and leaders with a track record of smart capital allocation.Focused portfolio With 25-35 stock holdings, we aim for better returns and lower risk through intense study of each company.
Management team
- Spencer Morgan, CFA (Investing since 2009)
- Karan S. Sodhi, CFA (Investing since 1998)
Daily pricing as of 10/11/24
| with optional enhanced death benefits | ||
|---|---|---|
| Unit Value | $13.079902 | $12.603015 |
| Unit Value Change | 0.050737 | 0.048836 |
Lipper ranking ‡ as of 08/31/24
Category: International Multi-Cp Core Fds
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 14% | 5/37 |
| 1 yr. | 67% | 30/44 |
| 3 yrs. | 72% | 32/44 |
| 5 yrs. | 47% | 20/42 |
Quick facts as of 09/30/24
| Fiscal Year End | December |
| Asset Class | Putnam Advisor Preferred |
| Subaccount Status | Open to new investors |
| Number of issues | 34 |
| Turnover (fiscal year end) | 30% |
| Net Assets | $167M |
| Inception Date | 05/01/90 |
Performance
Performance as of 09/30/24
| Annualized Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | 5.69% | 9.40% | 20.90% | 1.43% | 5.76% | 4.79% | 4.66% |
| Standardized | 3.69% | 7.40% | 18.90% | 1.43% | 5.76% | 4.79% | 4.66% |
| With optional enhanced death benefit | |||||||
| Unit Value | 5.65% | 9.28% | 20.72% | 1.27% | 5.61% | 4.63% | 4.50% |
| Standardized | 3.65% | 7.28% | 18.72% | 1.27% | 5.61% | 4.63% | 4.50% |
| Actual performance | |||||||
| Unit Value | 5.69% | 9.40% | 20.90% | 1.43% | 5.76% | 4.79% | 1.77% |
| Standardized | 3.69% | 7.40% | 18.90% | 1.43% | 5.76% | 4.79% | 1.77% |
| With optional enhanced death benefit | |||||||
| Unit Value | 5.65% | 9.28% | 20.72% | 1.27% | 5.61% | 4.63% | 1.62% |
| Standardized | 3.65% | 7.28% | 18.72% | 1.27% | 5.61% | 4.63% | 1.62% |
Annual Performance at NAV
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|
| -0.20% | -3.33% | -0.59% | 26.27% | -13.89% | 24.51% | 8.25% | 10.72% | -19.54% | 17.28% |
| With optional enhanced death benefit | |||||||||
| -0.36% | -3.48% | -0.74% | 26.08% | -14.02% | 24.32% | 8.09% | 10.56% | -19.66% | 17.11% |
Restated performance
Monthly as of 09/30/24 |
|
|---|---|
| Unit Value | 1.10% |
| Standardized | -0.90% |
YTD as of 10/11/24 |
|
|---|---|
| Unit Value | 7.59% |
| Standardized | 5.59% |
With optional enhanced death benefit
Monthly as of 09/30/24 |
|
|---|---|
| Unit Value | 1.08% |
| Standardized | -0.92% |
YTD as of 10/11/24 |
|
|---|---|
| Unit Value | 7.46% |
| Standardized | 5.46% |
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 Everlake variable annuities are flexible-premium deferred variable annuities issued by Everlake Life Insurance Company (Everlake Life); underwritten by Everlake 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 Everlake 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 Everlake at 1-800-390-1277.
Risk Characteristics as of 08/31/24
| Alpha (%) | -0.08 |
| Beta | 1.15 |
| R Squared | 0.93 |
| Standard Deviation (3 yrs.) | 19.25 |
Holdings
| Constellation Software Canada | 6.86% |
| Itochu Corp | 5.26% |
| Ryanair Holdings | 4.99% |
| Taiwan Semiconductor Manufacturing | 4.71% |
| Admiral Group | 4.05% |
| Hdfc Bank | 3.88% |
| Alphabet | 3.82% |
| Samsung Electronics | 3.61% |
| Universal Music Group Nv | 3.54% |
| Cogeco Communications | 3.44% |
| Top 10 holdings, total: | 44.15% |
| Top 10 holdings as of 08/31/24 | |
|---|---|
| 1: Constellation Software Canada | 6.86% |
| 2: Itochu Corp | 5.26% |
| 3: Ryanair Holdings | 4.99% |
| 4: Taiwan Semiconductor Manufacturing | 4.71% |
| 5: Admiral Group | 4.05% |
| 6: Hdfc Bank | 3.88% |
| 7: Alphabet | 3.82% |
| 8: Samsung Electronics | 3.61% |
| 9: Universal Music Group Nv | 3.54% |
| 10: Cogeco Communications | 3.44% |
| Holdings represent 44.15% of portfolio | |
| Top 10 holdings as of 07/31/24 | |
|---|---|
| 1: Constellation Software Canada | 6.80% |
| 2: Taiwan Semiconductor Manufacturing | 4.69% |
| 3: Itochu Corp | 4.65% |
| 4: Ryanair Holdings | 4.65% |
| 5: Alphabet | 4.11% |
| 6: Hdfc Bank | 3.92% |
| 7: Samsung Electronics | 3.85% |
| 8: Admiral Group | 3.83% |
| 9: Cogeco Communications | 3.38% |
| 10: Aib Group | 3.30% |
| Holdings represent 43.18% of portfolio | |
| Top 10 holdings as of 06/30/24 | |
|---|---|
| 1: Constellation Software Canada | 6.23% |
| 2: Ryanair Holdings | 5.36% |
| 3: Taiwan Semiconductor Manufacturing | 4.87% |
| 4: Itochu Corp | 4.47% |
| 5: Alphabet | 4.38% |
| 6: Compugroup Medical Kgaa | 4.16% |
| 7: Universal Music Group Nv | 4.13% |
| 8: Hdfc Bank | 4.12% |
| 9: Samsung Electronics | 3.80% |
| 10: Cogeco Communications | 3.68% |
| Holdings represent 45.20% of portfolio | |
| Top 10 holdings as of 05/31/24 | |
|---|---|
| 1: Constellation Software Canada | 6.42% |
| 2: Ryanair Holdings | 5.54% |
| 3: Compugroup Medical Kgaa | 4.83% |
| 4: Universal Music Group Nv | 4.33% |
| 5: Itochu Corp | 4.27% |
| 6: Taiwan Semiconductor Manufacturing | 4.12% |
| 7: Alphabet | 4.11% |
| 8: Alibaba Group Holding | 4.10% |
| 9: Cogeco Communications | 4.09% |
| 10: Admiral Group | 3.74% |
| Holdings represent 45.54% of portfolio | |
Portfolio Composition as of 08/31/24
| Common stock | 90.88% |
| Cash and net other assets | 5.51% |
| Preferred stock | 3.61% |
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. As a non-diversified fund, the fund invests in fewer issuers and is more vulnerable than a more broadly diversified fund to fluctuations in the values of the securities it holds. 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. The fund will be more susceptible to these risks than other funds because it invests in a limited number of issuers or sectors, and the fund may perform poorly as a result of adverse developments affecting those issuers or sectors. 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.
Sector weightings as of 08/31/24
| Information technology | 19.48% |
|---|---|
| Communication services | 15.72% |
| Industrials | 14.17% |
| Financials | 13.89% |
| Consumer discretionary | 13.44% |
| Health care | 8.17% |
| Energy | 5.77% |
| Cash and net other assets | 5.51% |
| Consumer staples | 3.85% |
0
Country Allocation as of 08/31/24
| United Kingdom | 21.89% |
|---|---|
| Canada | 16.08% |
| Japan | 12.48% |
| Ireland | 8.37% |
| South Korea | 6.84% |
| India | 6.35% |
| Cash and net other assets | 5.51% |
| Taiwan | 4.71% |
| China | 4.48% |
| Other | 13.29% |
0
Expenses
Sales Charges/Fees
| Breakpoint | Sales Charge | Dealer Allowance | CDSC Liab |
|---|---|---|---|
| $0 - $0 | 0.00% | 0.00% | N |
CDSC
| Year | Percent |
|---|---|
| 1 | 2.00% |
| 2 | 1.00% |
| 3+ | 0.00% |