Putnam Hartford Capital Manager

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

Lipper ranking ‡ as of 08/31/17

Category: International Multi-Cap Core

  Percentile ranking Rank/Funds in category
10 yrs. 58% 23/39
1 yr. 64% 51/79
3 yrs. 49% 37/76
5 yrs. 18% 11/63

Risk Characteristics as of 08/31/17

Alpha (%) -0.24
Beta 0.93
R squared 0.95
Standard deviation (3 yrs.) 11.76

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 08/31/17

Fiscal Year End December
Asset Class Putnam Hartford Capital Manager
Subaccount Status Open to new investors
Number of issues 83
Turnover (fiscal year end) 66%
Net Assets $265M
Inception Date 01/02/97

Holdings

Top 10 holdings as of 08/31/17

Ing Groep Nv 2.30%
Bayer Ag 2.23%
Unilever Nv 2.16%
Prudential 2.14%
Siemens Ag 2.12%
Royal Dutch Shell 2.03%
Orix Corp 1.91%
Rio Tinto 1.86%
Sony Corp 1.83%
Hoya Corp 1.81%
Top 10 holdings, total: 20.39%

Equity Holdings as of 06/30/17

BAYER AG-REG 2.31%
ING GROEP NV-CVA 2.29%
SIEMENS AG 2.29%
PRUDENTIAL PLC 2.14%
ROYAL DUTCH SHELL PLC-A SHS 2.01%
UNILEVER NV-CVA 1.92%
ORIX CORP 1.89%
SONY CORP 1.81%
CHALLENGER LTD 1.77%
SANOFI 1.73%
SUMITOMO MITSUI FINANCIAL GR 1.73%
SHIRE PLC 1.72%
RIO TINTO PLC 1.67%
HOYA CORP 1.65%
SOCIETE GENERALE SA 1.55%
DANSKE BANK A/S 1.53%
HENKEL AG & CO KGAA VORZUG 1.51%
NSK LTD 1.51%
AIRBUS SE 1.49%
VALEO SA 1.49%
KONINKLIJKE AHOLD DELHAIZE N 1.46%
ASTRAZENECA PLC 1.45%
KOMATSU LTD 1.44%
NINTENDO CO LTD 1.38%
NOKIA OYJ 1.38%
BASF SE 1.35%
LIXIL GROUP CORP 1.31%
SOFTBANK GROUP CORP 1.27%
EVONIK INDUSTRIES AG 1.25%
SK HYNIX INC 1.24%
COMPASS GROUP PLC 1.23%
WH GROUP LTD 1.23%
ASSOCIATED BRITISH FOODS PLC 1.22%
TDK CORP 1.21%
ADIDAS AG 1.19%
CRH PLC 1.19%
RWE AG 1.19%
COM HEM HOLDING AB 1.17%
ENI SPA 1.15%
VEOLIA ENVIRONNEMENT 1.15%
ALIBABA GROUP HOLDING-SP ADR 1.14%
NATIXIS 1.13%
HEINEKEN NV 1.11%
BERKELEY GROUP HOLDINGS/THE 1.09%
TENCENT HOLDINGS LTD 1.09%
CHUGAI PHARMACEUTICAL CO LTD 1.08%
ALTICE NV - A 1.07%
SECURITAS AB-B SHS 1.06%
RHEINMETALL AG 1.05%
MAGNA INTERNATIONAL INC 1.04%
BANCO MACRO SA-ADR 1.02%
BARCLAYS PLC 1.01%
KERRY GROUP PLC-A 1.01%
GRIFOLS SA-ADR 0.99%
IMPERIAL BRANDS PLC 0.99%
ORKLA ASA 0.98%
TELECOM ITALIA-RSP 0.98%
PARTNERS GROUP HOLDING AG 0.97%
ADMIRAL GROUP PLC 0.96%
KKR & CO LP 0.96%
AKZO NOBEL 0.94%
DIXONS CARPHONE PLC 0.93%
ISUZU MOTORS LTD 0.93%
RPC GROUP PLC 0.92%
WOLSELEY PLC 0.91%
ROHM CO LTD 0.89%
JOHNSON CONTROLS INTERNATION 0.88%
CENOVUS ENERGY INC 0.87%
KION GROUP AG 0.87%
KYUDENKO CORP 0.87%
VIRGIN MONEY HOLDINGS UK 0.85%
EURAZEO SA 0.84%
TAIWAN SEMICONDUCTOR MANUFAC 0.84%
ALPHABET INC-CL C 0.83%
AMAZON.COM INC 0.82%
BANK OF IRELAND 0.81%
JAPAN AIRLINES CO LTD 0.79%
NORSK HYDRO ASA 0.77%
DELIVERY HERO AG 0.54%
MATAHARI DEPARTMENT STORE TB 0.53%
GLOBAL FASHION GRP P/P 0.03%
GLOBAL FASHION GRP 0.02%
FABFURNISH GMBH P/P 0.00%
NEW BIGFOOT OTHER AS P/P 0.00%
NEW MIDDLE EAST OTHE P/P 0.00%
SFR GROUP SA 0.00%

Full Portfolio Holdings as of 06/30/17

BAYER AG-REG 2.31%
ING GROEP NV-CVA 2.29%
SIEMENS AG 2.29%
PRUDENTIAL PLC 2.14%
ROYAL DUTCH SHELL PLC-A SHS 2.01%
UNILEVER NV-CVA 1.92%
ORIX CORP 1.89%
SONY CORP 1.81%
CHALLENGER LTD 1.77%
SANOFI 1.73%
SUMITOMO MITSUI FINANCIAL GR 1.73%
SHIRE PLC 1.72%
RIO TINTO PLC 1.67%
HOYA CORP 1.65%
SOCIETE GENERALE SA 1.55%
DANSKE BANK A/S 1.53%
HENKEL AG & CO KGAA VORZUG 1.51%
NSK LTD 1.51%
AIRBUS SE 1.49%
VALEO SA 1.49%
KONINKLIJKE AHOLD DELHAIZE N 1.46%
ASTRAZENECA PLC 1.45%
KOMATSU LTD 1.44%
NINTENDO CO LTD 1.38%
NOKIA OYJ 1.38%
BASF SE 1.35%
LIXIL GROUP CORP 1.31%
SOFTBANK GROUP CORP 1.27%
EVONIK INDUSTRIES AG 1.25%
SK HYNIX INC 1.24%
COMPASS GROUP PLC 1.23%
WH GROUP LTD 1.23%
ASSOCIATED BRITISH FOODS PLC 1.22%
TDK CORP 1.21%
ADIDAS AG 1.19%
CRH PLC 1.19%
RWE AG 1.19%
COM HEM HOLDING AB 1.17%
ENI SPA 1.15%
VEOLIA ENVIRONNEMENT 1.15%
ALIBABA GROUP HOLDING-SP ADR 1.14%
NATIXIS 1.13%
HEINEKEN NV 1.11%
BERKELEY GROUP HOLDINGS/THE 1.09%
TENCENT HOLDINGS LTD 1.09%
CHUGAI PHARMACEUTICAL CO LTD 1.08%
ALTICE NV - A 1.07%
SECURITAS AB-B SHS 1.06%
RHEINMETALL AG 1.05%
MAGNA INTERNATIONAL INC 1.04%
BANCO MACRO SA-ADR 1.02%
BARCLAYS PLC 1.01%
KERRY GROUP PLC-A 1.01%
GRIFOLS SA-ADR 0.99%
IMPERIAL BRANDS PLC 0.99%
ORKLA ASA 0.98%
TELECOM ITALIA-RSP 0.98%
PARTNERS GROUP HOLDING AG 0.97%
ADMIRAL GROUP PLC 0.96%
KKR & CO LP 0.96%
AKZO NOBEL 0.94%
DIXONS CARPHONE PLC 0.93%
ISUZU MOTORS LTD 0.93%
RPC GROUP PLC 0.92%
WOLSELEY PLC 0.91%
ROHM CO LTD 0.89%
JOHNSON CONTROLS INTERNATION 0.88%
CENOVUS ENERGY INC 0.87%
KION GROUP AG 0.87%
KYUDENKO CORP 0.87%
VIRGIN MONEY HOLDINGS UK 0.85%
EURAZEO SA 0.84%
TAIWAN SEMICONDUCTOR MANUFAC 0.84%
ALPHABET INC-CL C 0.83%
AMAZON.COM INC 0.82%
BANK OF IRELAND 0.81%
JAPAN AIRLINES CO LTD 0.79%
NORSK HYDRO ASA 0.77%
DELIVERY HERO AG 0.54%
MATAHARI DEPARTMENT STORE TB 0.53%
THE EURO EUR CALL ACCOUNT 0.50%
JAPANESE YEN CALL ACCOUNT 0.06%
GLOBAL FASHION GRP P/P 0.03%
JPY/USD 08/16/2017 GSFX 0.03%
CHF/USD 09/20/2017 BCAP-FX 0.02%
CHF/USD 09/20/2017 SSBT 0.02%
GLOBAL FASHION GRP 0.02%
AUD/USD 07/19/2017 CITI 0.01%
CHF/USD 09/20/2017 CSI-FX 0.01%
CHF/USD 09/20/2017 JPMCB 0.01%
CHF/USD 09/20/2017 UBS 0.01%
GBP/USD 09/20/2017 JPMCB 0.01%
GBP/USD 09/20/2017 SSBT 0.01%
JPY/USD 08/16/2017 JPMCB 0.01%
SGD/USD 08/16/2017 JPMCB 0.01%
AUD/USD 07/19/2017 BANKAM 0.00%
AUD/USD 07/19/2017 SSBT 0.00%
AUD/USD 07/19/2017 WPAC 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 07/19/2017 CSI-FX 0.00%
CAD/USD 07/19/2017 JPMCB 0.00%
CNH/USD 08/16/2017 GSFX 0.00%
DKK/USD 09/20/2017 CITI 0.00%
EUR/USD 09/20/2017 CITI 0.00%
EUR/USD 09/20/2017 GSFX 0.00%
FABFURNISH GMBH P/P 0.00%
HKD/USD 08/16/2017 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 07/19/2017 SSBT 0.00%
JPY/USD 08/16/2017 CITI 0.00%
JPY/USD 08/16/2017 SSBT 0.00%
KOREAN WON CALL ACCOUNT 0.00%
KRW/USD 08/16/2017 JPMCB 0.00%
NEW BIGFOOT OTHER AS P/P 0.00%
NEW MIDDLE EAST OTHE P/P 0.00%
NEW ZEALAND DOLLAR CALL ACCOUNT 0.00%
NOK/USD 09/20/2017 CSI-FX 0.00%
NOK/USD 09/20/2017 JPMCB 0.00%
NZD/USD 07/19/2017 CITI 0.00%
POUND STERLING CALL ACCOUNT 0.00%
SEK/USD 09/20/2017 CSI-FX 0.00%
SEK/USD 09/20/2017 JPMCB 0.00%
SFR GROUP SA 0.00%
EUR/USD 09/20/2017 HSBCB -0.01%
GBP/USD 09/20/2017 BANKAM -0.01%
GBP/USD 09/20/2017 CITI -0.01%
GBP/USD 09/20/2017 GSFX -0.01%
GBP/USD 09/20/2017 RBSF -0.01%
EUR/USD 09/20/2017 JPMCB -0.02%
EUR/USD 09/20/2017 BANKAM -0.04%

Prior top 10 holdings

Top 10 holdings as of 08/31/17
1: Ing Groep Nv 2.30%
2: Bayer Ag 2.23%
3: Unilever Nv 2.16%
4: Prudential 2.14%
5: Siemens Ag 2.12%
6: Royal Dutch Shell 2.03%
7: Orix Corp 1.91%
8: Rio Tinto 1.86%
9: Sony Corp 1.83%
10: Hoya Corp 1.81%
Holdings represent 20.39% of portfolio
Top 10 holdings as of 07/31/17
1: Ing Groep Nv 2.39%
2: Prudential 2.19%
3: Bayer Ag 2.18%
4: Siemens Ag 2.17%
5: Royal Dutch Shell 2.05%
6: Unilever Nv 1.95%
7: Sony Corp 1.88%
8: Orix Corp 1.87%
9: Hoya Corp 1.85%
10: Rio Tinto 1.76%
Holdings represent 20.29% of portfolio
Top 10 holdings as of 06/30/17
1: Bayer Ag 2.31%
2: Ing Groep Nv 2.29%
3: Siemens Ag 2.29%
4: Prudential 2.14%
5: Royal Dutch Shell 2.01%
6: Unilever Nv 1.92%
7: Orix Corp 1.89%
8: Sony Corp 1.81%
9: Challenger Financial Service 1.77%
10: Sanofi 1.73%
Holdings represent 20.16% of portfolio
Top 10 holdings as of 05/31/17
1: Bayer Ag 2.35%
2: Ing Groep Nv 2.20%
3: Siemens Ag 2.17%
4: Prudential 2.07%
5: Royal Dutch Shell 2.03%
6: Orix Corp 1.91%
7: British American Tobacco 1.79%
8: Shire 1.78%
9: Sanofi 1.77%
10: Challenger Financial Service 1.63%
Holdings represent 19.70% of portfolio

Portfolio Composition as of 08/31/17

Common stock 98.88%
Cash and net other assets 1.09%
Convertible preferred stock 0.03%

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 08/31/17

Financials 21.44%
Industrials 14.52%
Consumer discretionary 11.27%
Information technology 11.12%
Consumer staples 11.00%
Health care 10.58%
Materials 8.82%
Energy 4.11%
Telecommunication services 3.46%
 
Other
3.68%
Utilities 2.59%
Cash and net other assets 1.09%

Country Allocation as of 08/31/17

Japan 20.35%
United Kingdom 17.28%
Germany 13.62%
France 9.57%
Netherlands 8.97%
United States 3.40%
Ireland 3.06%
Canada 2.75%
Australia 2.62%
 
Other
18.38%
China 2.61%
Sweden 2.22%
Italy 2.17%
Hong Kong 1.92%
Denmark 1.51%
Finland 1.35%
South Korea 1.26%
Norway 1.14%
Argentina 1.12%
Cash and net other assets 1.09%
Switzerland 0.99%
Spain 0.94%
Luxembourg 0.06%