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 09/30/18

Category: International Multi-Cap Core

  Percentile ranking Rank/Funds in category
10 yrs. 58% 23/39
1 yr. 92% 74/80
3 yrs. 91% 69/75
5 yrs. 51% 35/69

Risk Characteristics as of 09/30/18

Alpha (%) -2.40
Beta 0.97
R squared 0.91
Standard deviation (3 yrs.) 10.87

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 09/30/18

Fiscal Year End December
Asset Class Putnam Hartford Capital Manager
Subaccount Status Open to new investors
Number of issues 78
Turnover (fiscal year end) 61%
Net Assets $245M
Inception Date 01/02/97

Holdings

Top 10 holdings as of 09/30/18

Total 3.13%
Bp 2.58%
Rio Tinto 2.23%
Novartis Ag 2.14%
Hoya Corp 2.06%
Toyota Motor Corp 2.05%
Sony Corp 2.05%
Prudential 2.03%
Orix Corp 2.00%
Bayer Ag 1.96%
Top 10 holdings, total: 22.23%

Equity Holdings as of 06/30/18

TOTAL SA 3.08%
RIO TINTO PLC 2.55%
BAYER AG-REG 2.44%
TOYOTA MOTOR CORP 2.09%
UNILEVER NV-CVA 2.08%
PRUDENTIAL PLC 2.04%
HOYA CORP 1.98%
BP PLC 1.97%
ORIX CORP 1.91%
NOVARTIS AG-REG 1.89%
KONINKLIJKE AHOLD DELHAIZE N 1.82%
SHISEIDO CO LTD 1.81%
AIRBUS SE 1.77%
ASSOCIATED BRITISH FOODS PLC 1.73%
ASAHI GROUP HOLDINGS LTD 1.72%
SONY CORP 1.71%
ASTRAZENECA PLC 1.68%
SIEMENS AG 1.67%
UNIPER SE 1.67%
SUMITOMO MITSUI FINANCIAL GR 1.65%
CHALLENGER LTD 1.57%
NSK LTD 1.53%
CRH PLC 1.52%
SOCIETE GENERALE SA 1.50%
ADIDAS AG 1.44%
ING GROEP NV-CVA 1.42%
EVONIK INDUSTRIES AG 1.41%
DBS GROUP HOLDINGS LTD 1.39%
DANSKE BANK A/S 1.37%
COMPASS GROUP PLC 1.35%
BASF SE 1.33%
STMICROELECTRONICS NV 1.31%
FERGUSON PLC 1.29%
KYUDENKO CORP 1.25%
CENOVUS ENERGY INC 1.23%
HEINEKEN NV 1.23%
ASSA ABLOY AB-B 1.22%
MAGNA INTERNATIONAL INC 1.22%
TOSHIBA CORP 1.22%
VEOLIA ENVIRONNEMENT 1.21%
INSURANCE AUSTRALIA GROUP LTD 1.20%
ASHTEAD GROUP PLC 1.18%
KOMATSU LTD 1.17%
SMC CORP 1.13%
NATIXIS 1.12%
PARTNERS GROUP HOLDING AG 1.11%
RHEINMETALL AG 1.11%
CHUGAI PHARMACEUTICAL CO LTD 1.10%
NINTENDO CO LTD 1.06%
PIRELLI & C SPA 1.05%
SAMSUNG ELECTRONICS-PREF 1.05%
AMAZON.COM INC 1.03%
EURAZEO SA 1.02%
KERRY GROUP PLC-A 1.01%
KKR & CO LP 1.01%
TENCENT HOLDINGS LTD 0.98%
VINCI SA 0.98%
CAIXABANK S.A 0.93%
VIRGIN MONEY HOLDINGS UK 0.92%
WANT WANT CHINA HOLDINGS LTD 0.90%
KION GROUP AG 0.87%
BANK OF IRELAND GROUP PLC 0.86%
FERROTEC HOLDINGS CORP 0.83%
ALIBABA GROUP HOLDING-SP ADR 0.82%
BURFORD CAPITAL LTD 0.82%
EDELWEISS FINANCIAL SERVICES 0.78%
DELIVERY HERO AG 0.76%
WIZZ AIR HLDG PLC 0.76%
NINE DRAGONS PAPER HOLDINGS 0.75%
CONSTELLATION SOFTWARE INC 0.74%
ORION ENGINEERED CARBONS SA 0.74%
QUILTER PLC 0.73%
BRILLIANCE CHINA AUTOMOTIVE 0.66%
THE FOSCHINI GROUP LTD 0.56%
VALEO SA 0.55%
GLOBAL FASHION GRP 0.03%
GLOBAL FASHION GRP P/P 0.03%
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%

Full Portfolio Holdings as of 06/30/18

TOTAL SA 3.08%
RIO TINTO PLC 2.55%
BAYER AG-REG 2.44%
TOYOTA MOTOR CORP 2.09%
UNILEVER NV-CVA 2.08%
PRUDENTIAL PLC 2.04%
HOYA CORP 1.98%
BP PLC 1.97%
ORIX CORP 1.91%
NOVARTIS AG-REG 1.89%
KONINKLIJKE AHOLD DELHAIZE N 1.82%
SHISEIDO CO LTD 1.81%
AIRBUS SE 1.77%
ASSOCIATED BRITISH FOODS PLC 1.73%
ASAHI GROUP HOLDINGS LTD 1.72%
SONY CORP 1.71%
ASTRAZENECA PLC 1.68%
SIEMENS AG 1.67%
UNIPER SE 1.67%
SUMITOMO MITSUI FINANCIAL GR 1.65%
CHALLENGER LTD 1.57%
NSK LTD 1.53%
CRH PLC 1.52%
SOCIETE GENERALE SA 1.50%
ADIDAS AG 1.44%
ING GROEP NV-CVA 1.42%
EVONIK INDUSTRIES AG 1.41%
DBS GROUP HOLDINGS LTD 1.39%
DANSKE BANK A/S 1.37%
COMPASS GROUP PLC 1.35%
BASF SE 1.33%
STMICROELECTRONICS NV 1.31%
FERGUSON PLC 1.29%
KYUDENKO CORP 1.25%
CENOVUS ENERGY INC 1.23%
HEINEKEN NV 1.23%
ASSA ABLOY AB-B 1.22%
MAGNA INTERNATIONAL INC 1.22%
TOSHIBA CORP 1.22%
VEOLIA ENVIRONNEMENT 1.21%
INSURANCE AUSTRALIA GROUP LTD 1.20%
ASHTEAD GROUP PLC 1.18%
KOMATSU LTD 1.17%
SMC CORP 1.13%
NATIXIS 1.12%
PARTNERS GROUP HOLDING AG 1.11%
RHEINMETALL AG 1.11%
CHUGAI PHARMACEUTICAL CO LTD 1.10%
NINTENDO CO LTD 1.06%
PIRELLI & C SPA 1.05%
SAMSUNG ELECTRONICS-PREF 1.05%
AMAZON.COM INC 1.03%
EURAZEO SA 1.02%
KERRY GROUP PLC-A 1.01%
KKR & CO LP 1.01%
TENCENT HOLDINGS LTD 0.98%
VINCI SA 0.98%
CAIXABANK S.A 0.93%
VIRGIN MONEY HOLDINGS UK 0.92%
WANT WANT CHINA HOLDINGS LTD 0.90%
KION GROUP AG 0.87%
BANK OF IRELAND GROUP PLC 0.86%
FERROTEC HOLDINGS CORP 0.83%
ALIBABA GROUP HOLDING-SP ADR 0.82%
BURFORD CAPITAL LTD 0.82%
EDELWEISS FINANCIAL SERVICES 0.78%
DELIVERY HERO AG 0.76%
WIZZ AIR HLDG PLC 0.76%
NINE DRAGONS PAPER HOLDINGS 0.75%
CONSTELLATION SOFTWARE INC 0.74%
ORION ENGINEERED CARBONS SA 0.74%
QUILTER PLC 0.73%
BRILLIANCE CHINA AUTOMOTIVE 0.66%
THE FOSCHINI GROUP LTD 0.56%
VALEO SA 0.55%
DANISH KRONE CALL ACCOUNT 0.26%
THE EURO EUR CALL ACCOUNT 0.18%
JAPANESE YEN CALL ACCOUNT 0.06%
CHF/USD 09/19/2018 JPMCB 0.04%
GLOBAL FASHION GRP 0.03%
GLOBAL FASHION GRP P/P 0.03%
GBP/USD 09/19/2018 JPMCB 0.02%
AUD/USD 07/18/2018 CITI 0.01%
CHF/USD 09/19/2018 BCAP-FX 0.01%
DKK/USD 09/19/2018 CITI 0.01%
JPY/USD 08/16/2018 JPMCB 0.01%
NOK/USD 09/19/2018 JPMCB 0.01%
SEK/USD 09/19/2018 CSI-FX 0.01%
AUD/USD 07/18/2018 BANKAM 0.00%
AUD/USD 07/18/2018 SSBT 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 07/18/2018 GSFX 0.00%
CAD/USD 07/18/2018 JPMCB 0.00%
EUR/USD 09/19/2018 BANKAM 0.00%
EUR/USD 09/19/2018 GSFX 0.00%
GBP/USD 09/19/2018 BCAP-FX 0.00%
GBP/USD 09/19/2018 CITI 0.00%
GBP/USD 09/19/2018 GSFX 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
HKD/USD 08/16/2018 BANKAM 0.00%
HKD/USD 08/16/2018 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 07/18/2018 SSBT 0.00%
JPY/USD 08/16/2018 CITI 0.00%
JPY/USD 08/16/2018 SSBT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NEW ZEALAND DOLLAR CALL ACCOUNT 0.00%
NZD/USD 07/18/2018 CITI 0.00%
SEK/USD 09/19/2018 JPMCB 0.00%
SGD/USD 08/16/2018 JPMCB 0.00%
CAD/USD 07/18/2018 SSBT -0.01%
KRW/USD 08/16/2018 JPMCB -0.01%
EUR/USD 09/19/2018 JPMCB -0.02%
CNH/USD 08/16/2018 GSFX -0.03%
EUR/USD 09/19/2018 SSBT -0.03%
POUND STERLING CALL ACCOUNT -0.03%
CANADIAN DOLLAR ACCOUNT -0.70%

Prior top 10 holdings

Top 10 holdings as of 09/30/18
1: Total 3.13%
2: Bp 2.58%
3: Rio Tinto 2.23%
4: Novartis Ag 2.14%
5: Hoya Corp 2.06%
6: Toyota Motor Corp 2.05%
7: Sony Corp 2.05%
8: Prudential 2.03%
9: Orix Corp 2.00%
10: Bayer Ag 1.96%
Holdings represent 22.23% of portfolio
Top 10 holdings as of 08/31/18
1: Total 3.01%
2: Bp 2.17%
3: Unilever Nv 2.13%
4: Rio Tinto 2.09%
5: Bayer Ag 2.05%
6: Novartis Ag 2.05%
7: Toyota Motor Corp 2.04%
8: Hoya Corp 2.02%
9: Prudential 1.99%
10: Orix Corp 1.97%
Holdings represent 21.52% of portfolio
Top 10 holdings as of 07/31/18
1: Total 3.13%
2: Bayer Ag 2.42%
3: Rio Tinto 2.37%
4: Unilever Nv 2.11%
5: Prudential 2.07%
6: Toyota Motor Corp 2.07%
7: Hoya Corp 2.06%
8: Novartis Ag 2.06%
9: Orix Corp 1.92%
10: Koninklijke Ahold Delhaize Nv 1.91%
Holdings represent 22.12% of portfolio
Top 10 holdings as of 06/30/18
1: Total 3.08%
2: Rio Tinto 2.55%
3: Bayer Ag 2.44%
4: Toyota Motor Corp 2.09%
5: Unilever Nv 2.08%
6: Prudential 2.04%
7: Hoya Corp 1.98%
8: Bp 1.97%
9: Orix Corp 1.91%
10: Novartis Ag 1.89%
Holdings represent 22.03% of portfolio

Portfolio Composition as of 09/30/18

Common stock 96.62%
Cash and net other assets 2.26%
Preferred stock 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 09/30/18

Financials 21.38%
Industrials 16.78%
Consumer staples 13.84%
Consumer discretionary 12.06%
Health care 9.38%
Energy 6.93%
Materials 6.23%
Information technology 5.88%
Utilities 3.11%
 
Other
4.41%
Cash and net other assets 2.26%
Communication services 2.15%

Country Allocation as of 09/30/18

Japan 22.11%
United Kingdom 18.03%
France 12.05%
Germany 10.74%
Netherlands 4.79%
Ireland 3.59%
China 3.52%
United States 3.50%
Canada 3.28%
 
Other
18.39%
Sweden 2.55%
Australia 2.51%
Cash and net other assets 2.26%
Switzerland 2.14%
Singapore 1.39%
Spain 1.18%
Luxembourg 1.11%
South Korea 1.09%
Italy 1.05%
Denmark 0.92%
Taiwan 0.87%
India 0.73%
Poland 0.59%