Putnam Hartford Capital Manager

Putnam International Growth Subaccount

The subaccount seeks long-term capital appreciation.

Fund description

The subaccount invests in companies outside the United States experiencing rapid earnings, sales, and business unit growth, and with the potential for positive earnings surprises. The fund invests primarily in large and midsize companies with superior competitive positions within their industries.

Sales story

Harnessing the potential of international growth companiesInternational growth: The fund invests in international companies with above-average earnings growth primarily from developed international markets.Diverse companies: The portfolio includes large companies that dominate their industries and midsize companies that are emerging leaders with strong future potential.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 Growth

  Percentile ranking Rank/Funds in category
10 yrs. 40% 25/62
1 yr. 47% 37/79
3 yrs. 75% 55/73
5 yrs. 55% 40/73

Risk Characteristics as of 09/30/18

Alpha (%) -1.50
Beta 0.98
R squared 0.86
Standard deviation (3 yrs.) 11.07

International investing involves certain risks, such as currency fluctuations, economic instability, and political developments. Additional risks may be associated with emerging market securities, including illiquidity and volatility. The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 83
Turnover (fiscal year end) 105%
Net Assets $38M
Inception Date 01/02/97

Holdings

Top 10 holdings as of 09/30/18

Unilever Nv 3.30%
Burford Capital 2.71%
Adidas AG 2.45%
Aia Group 2.28%
Hoya Corp 2.24%
Dalata Hotel Group 2.20%
Visa 2.05%
Pernod Ricard 1.93%
Tencent Holdings 1.93%
Challenger Financial Service 1.86%
Top 10 holdings, total: 22.95%

Equity Holdings as of 06/30/18

UNILEVER NV-CVA 3.11%
BAYER AG-REG 2.18%
DALATA HOTEL GROUP PLC 2.12%
AIA GROUP LTD 2.09%
ADIDAS AG 2.06%
TENCENT HOLDINGS LTD 2.04%
BURFORD CAPITAL LTD 1.98%
HOYA CORP 1.87%
PERNOD RICARD SA 1.81%
BAE SYSTEMS PLC 1.77%
ALIBABA GROUP HOLDING-SP ADR 1.75%
CHALLENGER LTD 1.75%
RIO TINTO PLC 1.75%
VISA INC-CLASS A SHARES 1.70%
SIEMENS AG 1.62%
AIRBUS SE 1.58%
KYUDENKO CORP 1.56%
SINO-AMERICAN SILICON PRODUC 1.52%
KOMATSU LTD 1.51%
COMPASS GROUP PLC 1.50%
PRUDENTIAL PLC 1.50%
SONY CORP 1.50%
OCI NV 1.45%
TALEND SA - ADR 1.41%
PALTAC CORPORATION 1.37%
SCREEN HOLDINGS CO LTD 1.37%
ORPEA 1.35%
HEINEKEN NV 1.34%
CAIRN ENERGY PLC 1.33%
UNIVERSAL ENTERTAINMENT CORP 1.33%
WALSIN TECHNOLOGY CORP 1.32%
HDFC BANK LIMITED 1.27%
ASHTEAD GROUP PLC 1.26%
JAZZ PHARMACEUTICALS PLC 1.19%
MERCK & CO. INC. 1.16%
MORPHOSYS AG 1.16%
ILUKA RESOURCES LTD 1.11%
KERRY GROUP PLC-A 1.11%
EVONIK INDUSTRIES AG 1.10%
SHISEIDO CO LTD 1.10%
STMICROELECTRONICS NV 1.10%
DELIVERY HERO AG 1.09%
KION GROUP AG 1.07%
NOMAD FOODS LTD 1.05%
DEUTSCHE BOERSE AG 1.02%
CLINIGEN GROUP PLC 1.00%
DBS GROUP HOLDINGS LTD 1.00%
OUTSOURCING INC 1.00%
RAYTHEON COMPANY 1.00%
CAIXABANK S.A 0.99%
SOCIETE GENERALE SA 0.99%
KKR & CO LP 0.98%
KH NEOCHEM CO LTD 0.94%
TOSHIBA CORP 0.94%
SHANGHAI FOSUN PHARMACEUTI-H 0.93%
ORIX CORP 0.92%
SMC CORP 0.91%
DART GROUP PLC 0.90%
DXC TECHNOLOGY CO 0.90%
ENCANA CORP 0.89%
ALCOA CORP 0.88%
ASSA ABLOY AB-B 0.87%
BRILLIANCE CHINA AUTOMOTIVE 0.84%
GRUMA S.A.B.-B 0.83%
CHENIERE ENERGY INC 0.81%
CHINA EVERBRIGHT GREENTECH L 0.81%
ASSOCIATED BRITISH FOODS PLC 0.78%
HANA FINANCIAL GROUP 0.77%
OPEN HOUSE CO LTD 0.75%
SARAS SPA 0.75%
AIR CANADA 0.72%
CHINA WATER AFFAIRS GROUP 0.70%
SLM SOLUTIONS GROUP AG 0.68%
RHEINMETALL AG 0.67%
VALEO SA 0.67%
GENTERA SAB DE CV 0.66%
EDELWEISS FINANCIAL SERVICES 0.64%
DAIHO CORP 0.60%
NINTENDO CO LTD 0.48%
BOLSAS Y MERCADOS ARGENTINOS 0.43%
COBALT 27 CAPITAL CORP 0.39%
QUILTER PLC 0.30%
GRUPO FINANCIERO BANORTE-O 0.17%
GLOBAL FASHION GRP P/P 0.04%
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

UNILEVER NV-CVA 3.11%
BAYER AG-REG 2.18%
DALATA HOTEL GROUP PLC 2.12%
AIA GROUP LTD 2.09%
ADIDAS AG 2.06%
TENCENT HOLDINGS LTD 2.04%
BURFORD CAPITAL LTD 1.98%
HOYA CORP 1.87%
PERNOD RICARD SA 1.81%
BAE SYSTEMS PLC 1.77%
ALIBABA GROUP HOLDING-SP ADR 1.75%
CHALLENGER LTD 1.75%
RIO TINTO PLC 1.75%
VISA INC-CLASS A SHARES 1.70%
SIEMENS AG 1.62%
AIRBUS SE 1.58%
KYUDENKO CORP 1.56%
SINO-AMERICAN SILICON PRODUC 1.52%
KOMATSU LTD 1.51%
COMPASS GROUP PLC 1.50%
PRUDENTIAL PLC 1.50%
SONY CORP 1.50%
OCI NV 1.45%
TALEND SA - ADR 1.41%
PALTAC CORPORATION 1.37%
SCREEN HOLDINGS CO LTD 1.37%
ORPEA 1.35%
HEINEKEN NV 1.34%
CAIRN ENERGY PLC 1.33%
UNIVERSAL ENTERTAINMENT CORP 1.33%
WALSIN TECHNOLOGY CORP 1.32%
MEXICAN PESO CALL ACCOUNT 1.29%
HDFC BANK LIMITED 1.27%
ASHTEAD GROUP PLC 1.26%
JAZZ PHARMACEUTICALS PLC 1.19%
MERCK & CO. INC. 1.16%
MORPHOSYS AG 1.16%
ILUKA RESOURCES LTD 1.11%
KERRY GROUP PLC-A 1.11%
EVONIK INDUSTRIES AG 1.10%
SHISEIDO CO LTD 1.10%
STMICROELECTRONICS NV 1.10%
DELIVERY HERO AG 1.09%
KION GROUP AG 1.07%
NOMAD FOODS LTD 1.05%
DEUTSCHE BOERSE AG 1.02%
CLINIGEN GROUP PLC 1.00%
DBS GROUP HOLDINGS LTD 1.00%
OUTSOURCING INC 1.00%
RAYTHEON COMPANY 1.00%
CAIXABANK S.A 0.99%
SOCIETE GENERALE SA 0.99%
KKR & CO LP 0.98%
KH NEOCHEM CO LTD 0.94%
TOSHIBA CORP 0.94%
SHANGHAI FOSUN PHARMACEUTI-H 0.93%
ORIX CORP 0.92%
SMC CORP 0.91%
DART GROUP PLC 0.90%
DXC TECHNOLOGY CO 0.90%
ENCANA CORP 0.89%
ALCOA CORP 0.88%
ASSA ABLOY AB-B 0.87%
BRILLIANCE CHINA AUTOMOTIVE 0.84%
GRUMA S.A.B.-B 0.83%
CHENIERE ENERGY INC 0.81%
CHINA EVERBRIGHT GREENTECH L 0.81%
ASSOCIATED BRITISH FOODS PLC 0.78%
HANA FINANCIAL GROUP 0.77%
OPEN HOUSE CO LTD 0.75%
SARAS SPA 0.75%
AIR CANADA 0.72%
CHINA WATER AFFAIRS GROUP 0.70%
SLM SOLUTIONS GROUP AG 0.68%
RHEINMETALL AG 0.67%
VALEO SA 0.67%
GENTERA SAB DE CV 0.66%
EDELWEISS FINANCIAL SERVICES 0.64%
DAIHO CORP 0.60%
NINTENDO CO LTD 0.48%
BOLSAS Y MERCADOS ARGENTINOS 0.43%
COBALT 27 CAPITAL CORP 0.39%
QUILTER PLC 0.30%
GRUPO FINANCIERO BANORTE-O 0.17%
EUR/USD 09/19/2018 CITI 0.08%
GLOBAL FASHION GRP P/P 0.04%
CHF/USD 09/19/2018 BCAP-FX 0.02%
CHF/USD 09/19/2018 JPMCB 0.02%
GBP/USD 09/19/2018 JPMCB 0.02%
AUD/USD 07/18/2018 CITI 0.01%
AUD/USD 07/18/2018 GSFX 0.01%
DKK/USD 09/19/2018 CITI 0.01%
JPY/USD 08/16/2018 CITI 0.01%
NOK/USD 09/19/2018 JPMCB 0.01%
SEK/USD 09/19/2018 JPMCB 0.01%
SEK/USD 09/19/2018 SSBT 0.01%
CAD/USD 07/18/2018 CITI 0.00%
GBP/USD 09/19/2018 CITI 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%
ILS/USD 07/18/2018 SSBT 0.00%
INDIAN RUPEE CALL ACCOUNT 0.00%
JPY/USD 08/16/2018 JPMCB 0.00%
JPY/USD 08/16/2018 SSBT 0.00%
KRW/USD 08/16/2018 JPMCB 0.00%
MXN/USD 07/18/2018 CITI 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NZD/USD 07/18/2018 JPMCB 0.00%
SEK/USD 09/19/2018 BCAP-FX 0.00%
SGD/USD 08/16/2018 JPMCB 0.00%
CAD/USD 07/18/2018 SSBT -0.01%
EUR/USD 09/19/2018 BANKAM -0.01%
GBP/USD 09/19/2018 BCAP-FX -0.01%
GBP/USD 09/19/2018 SSBT -0.01%
GBP/USD 09/19/2018 BANKAM -0.02%
GBP/USD 09/19/2018 GSFX -0.02%
CANADIAN DOLLAR ACCOUNT -0.03%
EUR/USD 09/19/2018 HSBCB -0.03%
SINGAPORE DOLLAR CALL ACCOUNT -0.03%
CNH/USD 08/16/2018 GSFX -0.04%
AUSTRALIAN DOLLAR ACCOUNT -0.07%
HONG KONG DOLLAR CALL ACCOUNT -0.11%
POUND STERLING CALL ACCOUNT -0.18%
BRAZILIAN REAL CALL ACCOUNT -0.25%
JAPANESE YEN CALL ACCOUNT -0.34%
THE EURO EUR CALL ACCOUNT -0.38%

Prior top 10 holdings

Top 10 holdings as of 09/30/18
1: Unilever Nv 3.30%
2: Burford Capital 2.71%
3: Adidas AG 2.45%
4: Aia Group 2.28%
5: Hoya Corp 2.24%
6: Dalata Hotel Group 2.20%
7: Visa 2.05%
8: Pernod Ricard 1.93%
9: Tencent Holdings 1.93%
10: Challenger Financial Service 1.86%
Holdings represent 22.95% of portfolio
Top 10 holdings as of 08/31/18
1: Unilever Nv 3.27%
2: Burford Capital 2.66%
3: Adidas AG 2.40%
4: Dalata Hotel Group 2.20%
5: Aia Group 2.11%
6: Hoya Corp 2.11%
7: Tencent Holdings 1.94%
8: Visa 1.93%
9: Oci Nv 1.78%
10: Pernod Ricard 1.78%
Holdings represent 22.18% of portfolio
Top 10 holdings as of 07/31/18
1: Unilever Nv 3.20%
2: Burford Capital 2.42%
3: Hoya Corp 2.14%
4: Aia Group 2.09%
5: Adidas AG 2.08%
6: Dalata Hotel Group 2.06%
7: Bayer Ag 2.00%
8: Challenger Financial Service 1.99%
9: Tencent Holdings 1.85%
10: Bae Systems 1.78%
Holdings represent 21.61% of portfolio
Top 10 holdings as of 06/30/18
1: Unilever Nv 3.11%
2: Bayer Ag 2.18%
3: Aia Group 2.15%
4: Dalata Hotel Group 2.12%
5: Tencent Holdings 2.08%
6: Adidas AG 2.06%
7: Burford Capital 1.98%
8: Hoya Corp 1.91%
9: Pernod Ricard 1.81%
10: Challenger Financial Service 1.80%
Holdings represent 21.20% of portfolio

Portfolio Composition as of 09/30/18

Common stock 98.14%
Cash and net other assets 1.86%

Portfolio characteristics 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. Additional risks may be associated with emerging market securities, including illiquidity and volatility. The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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

Industrials 19.04%
Financials 16.71%
Consumer discretionary 12.74%
Consumer staples 11.73%
Information technology 11.44%
Health care 10.40%
Materials 5.24%
Communication services 4.53%
Energy 4.07%
 
Other
4.10%
Cash and net other assets 1.86%
Utilities 1.46%
Real estate 0.78%

Country Allocation as of 09/30/18

Japan 18.26%
United Kingdom 17.26%
United States 13.33%
Germany 11.68%
Netherlands 6.62%
China 5.44%
France 4.98%
Canada 3.49%
Ireland 3.46%
 
Other
15.48%
Hong Kong 2.28%
Australia 2.19%
India 2.12%
Mexico 2.12%
Cash and net other assets 1.86%
Spain 1.27%
Taiwan 1.04%
Italy 0.86%
Sweden 0.86%
Singapore 0.84%
Luxembourg 0.04%