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 01/31/18

Category: International Multi-Cap Core

  Percentile ranking Rank/Funds in category
10 yrs. 47% 20/42
1 yr. 11% 9/82
3 yrs. 54% 43/80
5 yrs. 12% 8/68

Risk Characteristics as of 01/31/18

Alpha (%) -0.07
Beta 0.95
R squared 0.94
Standard deviation (3 yrs.) 11.87

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 01/31/18

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 $286M
Inception Date 01/02/97

Holdings

Top 10 holdings as of 01/31/18

Ing Groep Nv 2.21%
Bayer Ag 2.19%
Siemens Ag 2.16%
Prudential 2.14%
Total 2.14%
Orix Corp 1.93%
Unilever Nv 1.92%
Toyota Motor Corp 1.91%
Sony Corp 1.88%
Rio Tinto 1.85%
Top 10 holdings, total: 20.33%

Equity Holdings as of 12/31/17

ING GROEP NV-CVA 2.24%
PRUDENTIAL PLC 2.19%
TOTAL SA 2.15%
SIEMENS AG 2.13%
BAYER AG-REG 2.04%
UNILEVER NV-CVA 2.01%
ORIX CORP 1.90%
RIO TINTO PLC 1.89%
SONY CORP 1.80%
SUMITOMO MITSUI FINANCIAL GR 1.76%
NSK LTD 1.75%
CHALLENGER LTD 1.73%
KOMATSU LTD 1.70%
HOYA CORP 1.64%
KONINKLIJKE AHOLD DELHAIZE N 1.55%
AIRBUS SE 1.54%
VALEO SA 1.51%
ASTRAZENECA PLC 1.49%
SHIRE PLC 1.48%
BASF SE 1.47%
SANOFI 1.42%
SOCIETE GENERALE SA 1.41%
DIAGEO PLC 1.39%
ROHM CO LTD 1.37%
UNIPER SE 1.37%
WH GROUP LTD 1.36%
DANSKE BANK A/S 1.33%
VEOLIA ENVIRONNEMENT 1.30%
ENI SPA 1.25%
KERRY GROUP PLC-A 1.25%
ADIDAS AG 1.24%
CRH PLC 1.23%
RHEINMETALL AG 1.21%
COM HEM HOLDING AB 1.20%
EVONIK INDUSTRIES AG 1.20%
HEINEKEN NV 1.20%
NATIXIS 1.20%
COMPASS GROUP PLC 1.19%
TAKEDA PHARMACEUTICAL CO LTD 1.18%
KYUDENKO CORP 1.17%
MAGNA INTERNATIONAL INC 1.16%
ASSOCIATED BRITISH FOODS PLC 1.15%
ASSA ABLOY AB-B 1.14%
NINTENDO CO LTD 1.11%
ASAHI GROUP HOLDINGS LTD 1.10%
SHISEIDO CO LTD 1.09%
ALIBABA GROUP HOLDING-SP ADR 1.07%
PIRELLI & C SPA 1.06%
EURAZEO SA 1.05%
CHUGAI PHARMACEUTICAL CO LTD 1.04%
NORSK HYDRO ASA 1.04%
TENCENT HOLDINGS LTD 1.04%
TDK CORP 1.03%
TECHTRONIC INDUSTRIES CO LTD 1.03%
CENOVUS ENERGY INC 1.02%
IRB BRASIL RESSEGUROS SA 1.02%
KION GROUP AG 1.02%
NOKIA OYJ 1.00%
PARTNERS GROUP HOLDING AG 1.00%
KKR & CO LP 0.99%
CAIXABANK S.A 0.94%
JAPAN AIRLINES CO LTD 0.94%
SMC CORP 0.94%
DIXONS CARPHONE PLC 0.91%
MICRO FOCUS INTERNATIONAL 0.91%
RPC GROUP PLC 0.90%
ALPHABET INC-CL C 0.89%
SAMSUNG ELECTRONICS-PREF 0.88%
GRUPO FINANCIERO GALICIA-ADR 0.87%
VIRGIN MONEY HOLDINGS UK 0.87%
AENA SME SA 0.85%
ILUKA RESOURCES LTD 0.83%
AMAZON.COM INC 0.82%
BANK OF IRELAND GROUP PLC 0.82%
CONSTELLATION SOFTWARE INC 0.80%
JOHNSON CONTROLS INTERNATION 0.79%
TOSHIBA CORP 0.77%
DELIVERY HERO AG 0.70%
ALTICE NV - A 0.52%
SK HYNIX INC 0.51%
GLOBAL FASHION GRP 0.03%
GLOBAL FASHION GRP P/P 0.03%
FABFURNISH 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 12/31/17

ING GROEP NV-CVA 2.24%
PRUDENTIAL PLC 2.19%
TOTAL SA 2.15%
SIEMENS AG 2.13%
BAYER AG-REG 2.04%
UNILEVER NV-CVA 2.01%
ORIX CORP 1.90%
RIO TINTO PLC 1.89%
SONY CORP 1.80%
SUMITOMO MITSUI FINANCIAL GR 1.76%
NSK LTD 1.75%
CHALLENGER LTD 1.73%
KOMATSU LTD 1.70%
HOYA CORP 1.64%
KONINKLIJKE AHOLD DELHAIZE N 1.55%
AIRBUS SE 1.54%
VALEO SA 1.51%
ASTRAZENECA PLC 1.49%
SHIRE PLC 1.48%
BASF SE 1.47%
SANOFI 1.42%
SOCIETE GENERALE SA 1.41%
DIAGEO PLC 1.39%
ROHM CO LTD 1.37%
UNIPER SE 1.37%
WH GROUP LTD 1.36%
DANSKE BANK A/S 1.33%
VEOLIA ENVIRONNEMENT 1.30%
ENI SPA 1.25%
KERRY GROUP PLC-A 1.25%
ADIDAS AG 1.24%
CRH PLC 1.23%
RHEINMETALL AG 1.21%
COM HEM HOLDING AB 1.20%
EVONIK INDUSTRIES AG 1.20%
HEINEKEN NV 1.20%
NATIXIS 1.20%
COMPASS GROUP PLC 1.19%
TAKEDA PHARMACEUTICAL CO LTD 1.18%
KYUDENKO CORP 1.17%
MAGNA INTERNATIONAL INC 1.16%
ASSOCIATED BRITISH FOODS PLC 1.15%
ASSA ABLOY AB-B 1.14%
NINTENDO CO LTD 1.11%
ASAHI GROUP HOLDINGS LTD 1.10%
SHISEIDO CO LTD 1.09%
ALIBABA GROUP HOLDING-SP ADR 1.07%
PIRELLI & C SPA 1.06%
EURAZEO SA 1.05%
CHUGAI PHARMACEUTICAL CO LTD 1.04%
NORSK HYDRO ASA 1.04%
TENCENT HOLDINGS LTD 1.04%
TDK CORP 1.03%
TECHTRONIC INDUSTRIES CO LTD 1.03%
CENOVUS ENERGY INC 1.02%
IRB BRASIL RESSEGUROS SA 1.02%
KION GROUP AG 1.02%
NOKIA OYJ 1.00%
PARTNERS GROUP HOLDING AG 1.00%
KKR & CO LP 0.99%
CAIXABANK S.A 0.94%
JAPAN AIRLINES CO LTD 0.94%
SMC CORP 0.94%
DIXONS CARPHONE PLC 0.91%
MICRO FOCUS INTERNATIONAL 0.91%
RPC GROUP PLC 0.90%
ALPHABET INC-CL C 0.89%
SAMSUNG ELECTRONICS-PREF 0.88%
GRUPO FINANCIERO GALICIA-ADR 0.87%
VIRGIN MONEY HOLDINGS UK 0.87%
AENA SME SA 0.85%
ILUKA RESOURCES LTD 0.83%
AMAZON.COM INC 0.82%
BANK OF IRELAND GROUP PLC 0.82%
CONSTELLATION SOFTWARE INC 0.80%
JOHNSON CONTROLS INTERNATION 0.79%
TOSHIBA CORP 0.77%
DELIVERY HERO AG 0.70%
ALTICE NV - A 0.52%
SK HYNIX INC 0.51%
GLOBAL FASHION GRP 0.03%
GLOBAL FASHION GRP P/P 0.03%
TAIWAN DOLLAR CALL ACCOUNT 0.03%
CHF/USD 03/21/2018 BCAP-FX 0.01%
CHF/USD 03/21/2018 JPMCB 0.01%
CNH/USD 02/22/2018 GSFX 0.01%
GBP/USD 03/21/2018 CITI 0.01%
GBP/USD 03/21/2018 RBSF 0.01%
KRW/USD 02/22/2018 JPMCB 0.01%
AUD/USD 01/17/2018 BANKAM 0.00%
AUD/USD 01/17/2018 CITI 0.00%
AUD/USD 01/17/2018 SSBT 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 01/17/2018 GSFX 0.00%
CAD/USD 01/17/2018 JPMCB 0.00%
CAD/USD 01/17/2018 SSBT 0.00%
DKK/USD 03/21/2018 CITI 0.00%
EUR/USD 03/21/2018 BANKAM 0.00%
EUR/USD 03/21/2018 CITI 0.00%
EUR/USD 03/21/2018 GSFX 0.00%
EUR/USD 03/21/2018 JPMCB 0.00%
EUR/USD 03/21/2018 SSBT 0.00%
FABFURNISH GMBH P/P 0.00%
GBP/USD 03/21/2018 BANKAM 0.00%
HKD/USD 02/22/2018 BANKAM 0.00%
HKD/USD 02/22/2018 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 01/17/2018 SSBT 0.00%
JPY/USD 02/22/2018 BANKAM 0.00%
JPY/USD 02/22/2018 CITI 0.00%
JPY/USD 02/22/2018 GSFX 0.00%
JPY/USD 02/22/2018 JPMCB 0.00%
JPY/USD 02/22/2018 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%
NOK/USD 03/21/2018 CSI-FX 0.00%
NOK/USD 03/21/2018 JPMCB 0.00%
NZD/USD 01/17/2018 CITI 0.00%
POUND STERLING CALL ACCOUNT 0.00%
SEK/USD 03/21/2018 CSI-FX 0.00%
SEK/USD 03/21/2018 JPMCB 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
GBP/USD 03/21/2018 GSFX -0.01%
GBP/USD 03/21/2018 JPMCB -0.01%
GBP/USD 03/21/2018 SSBT -0.01%
SGD/USD 02/22/2018 JPMCB -0.01%

Prior top 10 holdings

Top 10 holdings as of 01/31/18
1: Ing Groep Nv 2.21%
2: Bayer Ag 2.19%
3: Siemens Ag 2.16%
4: Prudential 2.14%
5: Total 2.14%
6: Orix Corp 1.93%
7: Unilever Nv 1.92%
8: Toyota Motor Corp 1.91%
9: Sony Corp 1.88%
10: Rio Tinto 1.85%
Holdings represent 20.33% of portfolio
Top 10 holdings as of 12/31/17
1: Ing Groep Nv 2.24%
2: Prudential 2.19%
3: Total 2.15%
4: Siemens Ag 2.13%
5: Bayer Ag 2.04%
6: Unilever Nv 2.01%
7: Orix Corp 1.90%
8: Rio Tinto 1.89%
9: Sony Corp 1.80%
10: Sumitomo Mitsui Financial Group 1.76%
Holdings represent 20.11% of portfolio
Top 10 holdings as of 11/30/17
1: Ing Groep Nv 2.22%
2: Total 2.22%
3: Prudential 2.17%
4: Bayer Ag 2.11%
5: Siemens Ag 2.10%
6: Unilever Nv 2.08%
7: Orix Corp 1.96%
8: Sony Corp 1.89%
9: Challenger Financial Service 1.71%
10: Rio Tinto 1.71%
Holdings represent 20.17% of portfolio
Top 10 holdings as of 10/31/17
1: Ing Groep Nv 2.25%
2: Siemens Ag 2.19%
3: Bayer Ag 2.14%
4: Prudential 2.10%
5: Unilever Nv 2.08%
6: Total 2.02%
7: Orix Corp 1.92%
8: Airbus 1.70%
9: Rio Tinto 1.69%
10: Sony Corp 1.69%
Holdings represent 19.78% of portfolio

Portfolio Composition as of 01/31/18

Common stock 95.99%
Cash and net other assets 2.90%
Preferred stock 1.08%
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 01/31/18

Financials 21.72%
Industrials 16.50%
Consumer discretionary 11.85%
Consumer staples 11.22%
Information technology 11.06%
Health care 8.72%
Materials 7.93%
Energy 4.40%
Cash and net other assets 2.90%
 
Other
3.70%
Utilities 2.41%
Telecommunication services 1.29%

Country Allocation as of 01/31/18

Japan 23.12%
United Kingdom 12.53%
Germany 12.48%
France 11.85%
Netherlands 7.07%
United States 3.29%
Ireland 3.15%
Canada 3.06%
Cash and net other assets 2.90%
 
Other
20.55%
Sweden 2.43%
Australia 2.40%
Italy 2.35%
China 2.09%
Spain 2.09%
Switzerland 1.94%
Hong Kong 1.39%
Denmark 1.29%
Brazil 1.09%
South Korea 1.08%
Norway 0.93%
Argentina 0.86%
Luxembourg 0.61%