Putnam 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 04/30/19

Category: International Multi-Cap Growth

  Percentile ranking Rank/Funds in category
10 yrs. 67% 39/58
1 yr. 98% 69/70
3 yrs. 75% 49/65
5 yrs. 94% 62/65

Risk Characteristics as of 04/30/19

Alpha (%) -1.53
Beta 1.10
R squared 0.91
Standard deviation (3 yrs.) 12.51

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 04/30/19

Fiscal Year End December
Asset Class Putnam Capital Manager
Subaccount Status Open to new investors
Number of issues 81
Turnover (fiscal year end) 89%
Net Assets $34M
Inception Date 01/02/97

Holdings

Top 10 holdings as of 04/30/19

Unilever Nv 4.03%
Airbus 2.66%
Prudential 2.36%
Pernod Ricard 2.30%
Visa 2.14%
Aia Group 2.11%
Astrazeneca 2.11%
Dalata Hotel Group 2.05%
Rheinmetall Ag 2.05%
Qbe Insurance Group 2.04%
Top 10 holdings, total: 23.85%

Full Portfolio Holdings as of 03/31/19

UNILEVER NV-CVA 3.96%
AIRBUS SE 2.64%
AIA GROUP LTD 2.53%
VISA INC-CLASS A SHARES 2.46%
PERNOD RICARD SA 2.43%
ASTRAZENECA PLC 2.32%
PRUDENTIAL PLC 2.14%
DALATA HOTEL GROUP PLC 2.10%
COMPASS GROUP PLC 2.05%
HEINEKEN NV 2.04%
QBE INSURANCE GROUP LTD 2.00%
HDFC BANK LIMITED 1.98%
ADIDAS AG 1.97%
PALTAC CORPORATION 1.96%
RHEINMETALL AG 1.90%
ORPEA 1.85%
ASAHI GROUP HOLDINGS LTD 1.80%
CONSTELLATION SOFTWARE INC 1.75%
TENCENT HOLDINGS LTD 1.73%
ASHTEAD GROUP PLC 1.71%
ASML HOLDING NV 1.68%
NXP SEMICONDUCTORS NV 1.60%
NOVARTIS AG-REG 1.53%
MERCK & CO. INC. 1.50%
NOVOZYMES A/S-B SHARES 1.47%
TALEND SA - ADR 1.40%
SOFTBANK GROUP CORP 1.31%
FU SHOU YUAN INTERNATIONAL 1.30%
QUILTER PLC 1.29%
KERRY GROUP PLC-A 1.26%
RAI WAY SPA 1.25%
ALLIANCE GLOBAL GROUP INC 1.24%
DINO POLSKA SA 1.24%
RELIANCE INDUSTRIES LTD 1.22%
CLINIGEN GROUP PLC 1.19%
ALPHABET INC-CL A 1.14%
ASSA ABLOY AB-B 1.12%
OCI NV 1.11%
FREEPORT-MCMORAN INC 1.09%
CHINA WATER AFFAIRS GROUP 1.08%
DAIHO CORP 1.08%
CAIRN ENERGY PLC 1.05%
HOYA CORP 1.05%
SINO-AMERICAN SILICON PRODUC 1.05%
DEUTSCHE BOERSE AG 1.01%
KH NEOCHEM CO LTD 1.00%
LOGAN PROPERTY HOLDINGS CO L 1.00%
CREDICORP LTD 0.95%
BANK TABUNGAN PENSIUNAN NASI 0.94%
GRIEG SEAFOOD ASA 0.93%
RIO TINTO LTD 0.93%
AUSTRALIAN DOLLAR ACCOUNT 0.92%
KERING 0.92%
TCI CO LTD 0.92%
COCA-COLA HBC AG-DI 0.91%
PIRELLI & C SPA 0.91%
OUTSOURCING INC 0.89%
ATACADAO DISTRIBUICAO COMERC 0.87%
JARIR MARKETING CO 144A/REGS WARRANT 02/04/2020 0.86%
SARAS SPA 0.86%
DOMINO'S PIZZA GROUP PLC 0.84%
DISCOVERY INC - A 0.81%
OPEN HOUSE CO LTD 0.81%
UNIVERSAL ENTERTAINMENT CORP 0.81%
AIR CANADA 0.78%
SOCIETE GENERALE SA 0.76%
SCREEN HOLDINGS CO LTD 0.75%
MELCO INTERNATIONAL DEVELOP. 0.72%
KOMATSU LTD 0.68%
DART GROUP PLC 0.62%
CHENIERE ENERGY INC 0.61%
ENCANA CORP 0.61%
MORPHOSYS AG 0.60%
SIEMENS AG 0.60%
SAMSUNG ELECTRONICS CO LTD 0.50%
SWISS FRANC CALL ACCOUNT 0.50%
SONY CORP 0.45%
KEI INDUSTRIES LTD 0.33%
MATAHARI DEPARTMENT STORE TB 0.31%
POUND STERLING CALL ACCOUNT 0.31%
GRUPO FINANCIERO GALICIA-ADR 0.29%
CLEAN TEQ HOLDINGS LTD 0.21%
INDIAN RUPEE CALL ACCOUNT 0.21%
ORION ENGINEERED CARBONS SA 0.17%
CHF/USD 06/19/2019 BCAP-FX 0.05%
TAIWAN DOLLAR CALL ACCOUNT 0.05%
GLOBAL FASHION GRP P/P 0.04%
CHF/USD 06/19/2019 JPMCB 0.03%
CAD/USD 04/17/2019 CITI 0.01%
JPY/USD 05/15/2019 GSFX 0.01%
JPY/USD 05/15/2019 JPMCB 0.01%
JPY/USD 05/15/2019 SSBT 0.01%
AUD/USD 04/17/2019 BCAP-FX 0.00%
BRAZILIAN REAL CALL ACCOUNT 0.00%
CAD/USD 04/17/2019 JPMCB 0.00%
CAD/USD 04/17/2019 SSBT 0.00%
CNH/USD 05/15/2019 HSBCB 0.00%
EUR/USD 06/19/2019 BCAP-FX 0.00%
EUR/USD 06/19/2019 CITI 0.00%
GBP/USD 06/19/2019 BCAP-FX 0.00%
GBP/USD 06/19/2019 JPMCB 0.00%
GBP/USD 06/19/2019 SSBT 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
HKD/USD 05/15/2019 BCAP-FX 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
ILS/USD 04/17/2019 SSBT 0.00%
JPY/USD 05/15/2019 BANKAM 0.00%
KRW/USD 05/15/2019 JPMCB 0.00%
MXN/USD 04/17/2019 CITI 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NOK/USD 06/19/2019 JPMCB 0.00%
NZD/USD 04/17/2019 JPMCB 0.00%
PLN/USD 06/19/2019 BCAP-FX 0.00%
SEK/USD 06/19/2019 JPMCB 0.00%
SGD/USD 05/15/2019 JPMCB 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
TWD/USD 05/15/2019 GSFX 0.00%
DKK/USD 06/19/2019 CITI -0.01%
EUR/USD 06/19/2019 HSBCB -0.01%
CANADIAN DOLLAR ACCOUNT -0.20%
JAPANESE YEN CALL ACCOUNT -0.68%

Prior top 10 holdings

Top 10 holdings as of 04/30/19
1: Unilever Nv 4.03%
2: Airbus 2.66%
3: Prudential 2.36%
4: Pernod Ricard 2.30%
5: Visa 2.14%
6: Aia Group 2.11%
7: Astrazeneca 2.11%
8: Dalata Hotel Group 2.05%
9: Rheinmetall Ag 2.05%
10: Qbe Insurance Group 2.04%
Holdings represent 23.85% of portfolio
Top 10 holdings as of 03/31/19
1: Unilever Nv 3.96%
2: Airbus 2.64%
3: Aia Group 2.53%
4: Visa 2.46%
5: Pernod Ricard 2.43%
6: Prudential 2.14%
7: Dalata Hotel Group 2.10%
8: Compass Group 2.05%
9: Heineken Nv 2.04%
10: Astrazeneca 2.01%
Holdings represent 24.36% of portfolio
Top 10 holdings as of 02/28/19
1: Unilever Nv 3.67%
2: Airbus 2.56%
3: Aia Group 2.53%
4: Visa 2.31%
5: Pernod Ricard 2.31%
6: Dalata Hotel Group 2.19%
7: Hoya Corp 2.17%
8: Adidas AG 2.17%
9: Prudential 2.04%
10: Astrazeneca 2.04%
Holdings represent 23.99% of portfolio
Top 10 holdings as of 01/31/19
1: Unilever Nv 3.70%
2: Adidas AG 2.49%
3: Aia Group 2.32%
4: Pernod Ricard 2.28%
5: Visa 2.16%
6: Dalata Hotel Group 2.12%
7: Hoya Corp 2.10%
8: Airbus 2.03%
9: Compass Group 1.89%
10: Astrazeneca 1.85%
Holdings represent 22.94% of portfolio

Portfolio Composition as of 04/30/19

Common stock 97.15%
Cash and net other assets 2.85%

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 04/30/19

Consumer staples 17.20%
Consumer discretionary 15.31%
Industrials 13.14%
Financials 12.90%
Information technology 11.50%
Health care 10.01%
Communication services 6.06%
Materials 4.48%
Energy 4.23%
 
Other
5.17%
Cash and net other assets 2.85%
Real estate 1.29%
Utilities 1.03%

Country Allocation as of 04/30/19

United Kingdom 12.82%
Japan 12.15%
United States 9.32%
Netherlands 9.03%
France 7.72%
Germany 6.20%
China 5.49%
Canada 3.52%
Ireland 3.28%
 
Other
30.47%
India 3.20%
Italy 3.07%
Australia 2.91%
Cash and net other assets 2.85%
Hong Kong 2.84%
Switzerland 2.20%
Indonesia 2.04%
Taiwan 1.99%
Denmark 1.45%
Brazil 1.43%
Poland 1.28%
Philippines 1.13%
Sweden 1.08%
Saudi Arabia 0.94%
Peru 0.91%
Norway 0.87%
Argentina 0.24%
Luxembourg 0.04%