Putnam Capital Manager

Putnam Sustainable Future Subaccount

The subaccount seeks long-term capital appreciation.

Fund description

The subaccount employs a value strategy to identify undervalued, high-quality companies among the market's mid-cap offerings. The subaccount's managers seek stocks they believe have been under-estimated by the market. They target profitable, established companies of two kinds: smaller companies that have grown to midsize, and larger companies that have fallen out of favor temporarily but are expected to recover.

Sales story

Investing in growing companies solving sustainability challengesImpact companies: The fund invests in growth companies that directly demonstrate positive impact in social, environmental, or economic development.Active strategy: The managers utilize bottom-up research to identify companies with attractive sustainability, fundamental, and valuation characteristics.Veteran team: A dedicated sustainable investing team is backed by Putnam's equity research and quantitative/risk analysis groups.

Management team

Lipper ranking ‡ as of 04/30/20

Category: Multi-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 88% 76/86
1 yr. 69% 71/103
3 yrs. 81% 84/103
5 yrs. 91% 93/102

Risk Characteristics as of 04/30/20

Alpha (%) 0.66
Beta 0.90
R squared 0.97
Standard deviation (3 yrs.) 17.48

‡ 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 04/30/20

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 71
Turnover (fiscal year end) 57%
Net Assets $30M
Inception Date 05/01/03

Holdings

Danaher Corp 3.55%
Adobe 3.42%
Thermo Fisher Scientific 3.04%
Chipotle Mexican Grill 2.52%
Mccormick Md 2.43%
Godaddy 2.33%
First Republic Bank/Ca 2.29%
Nomad Foods 1.93%
Msci 1.92%
Ball Corp 1.92%
Top 10 holdings, total: 25.35%


Top 10 holdings as of 04/30/20
1: Danaher Corp 3.55%
2: Adobe 3.42%
3: Thermo Fisher Scientific 3.04%
4: Chipotle Mexican Grill 2.52%
5: Mccormick Md 2.43%
6: Godaddy 2.33%
7: First Republic Bank/Ca 2.29%
8: Nomad Foods 1.93%
9: Msci 1.92%
10: Ball Corp 1.92%
Holdings represent 25.35% of portfolio
Top 10 holdings as of 03/31/20
1: Danaher Corp 3.70%
2: Adobe 3.47%
3: Mastercard 3.28%
4: Thermo Fisher Scientific 3.05%
5: Mccormick Md 2.68%
6: Teladoc Health 2.61%
7: Everbridge 2.38%
8: Ball Corp 2.30%
9: Chipotle Mexican Grill 2.11%
10: Godaddy 2.08%
Holdings represent 27.66% of portfolio
Top 10 holdings as of 02/29/20
1: Mastercard 3.31%
2: Mccormick Md 3.31%
3: Danaher Corp 3.24%
4: Adobe 3.09%
5: Chipotle Mexican Grill 2.38%
6: Thermo Fisher Scientific 2.34%
7: First Republic Bank/Ca 2.31%
8: Everbridge 2.21%
9: Teladoc Health 2.20%
10: Vail Resorts 2.20%
Holdings represent 26.59% of portfolio
Top 10 holdings as of 01/31/20
1: Mccormick Md 3.51%
2: Mastercard 3.42%
3: Danaher Corp 3.42%
4: Adobe 2.99%
5: Chipotle Mexican Grill 2.53%
6: First Republic Bank/Ca 2.41%
7: Teladoc Health 2.41%
8: Thermo Fisher Scientific 2.39%
9: Vail Resorts 2.30%
10: Godaddy 2.15%
Holdings represent 27.53% of portfolio


Portfolio Composition as of 04/30/20

Common stock 95.23%
Cash and net other assets 3.33%
Convertible preferred stock 1.44%

Consider these risks before investing: 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. Growth stocks may be more susceptible to earnings disappointments, technological obsolescence, falling prices and profits, and the market may not favor growth-style investing. Investments in small and midsize companies increase the risk of greater price fluctuations. International investing involves currency, economic, and political risks. Emerging-market securities have illiquidity and volatility risks. The fund's sustainable and environmental, social, and/or corporate governance (ESG) investment strategy may cause the fund to forego otherwise attractive investment opportunities or may increase or decrease the fund’s exposure to certain types of companies and, therefore, to underperform funds that do not invest with a similar focus. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies in which the fund invests, the fund may temporarily hold securities that are inconsistent with its sustainable investment criteria. 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 04/30/20

Information technology 27.77%
Health care 25.10%
Industrials 11.51%
Consumer discretionary 9.51%
Consumer staples 6.53%
Materials 6.45%
Financials 5.75%
Cash and net other assets 3.33%
Utilities 1.65%
 
Other
2.40%
Communication services 1.28%
Real estate 1.12%