Putnam Hartford Capital Manager

Putnam Global Health Care Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount seeks to capitalize on the strength of the health-care sector, targeting companies of all sizes. Holdings encompass an array of industries, including pharmaceuticals, health-care services, and biotechnology. The fund seeks companies that offer strong long-term growth prospects, regardless of their size.

Sales story

Investing in the health-care sectorA dynamic sector: From biotech to pharmaceuticals, the fund seeks out companies that profit from the global demand for health care.A range of companies: The fund invests worldwide in businesses at different stages of growth, from rapidly growing newer companies to established global corporations.Actively managed: Unlike passively managed ETFs, Putnam global sector funds combine rigorous fundamental research and disciplined quantitative analysis with macroeconomic views.

Management team

Risk Characteristics as of 04/30/18

Alpha (%) -2.21
Beta 1.10
R squared 0.94
Standard deviation (3 yrs.) 13.85

The fund concentrates its investments in one region or in one sector and involves more risk than a fund that invests more broadly. 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.

Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

‡ 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 04/30/18

Fiscal Year End December
Asset Class Putnam Hartford Capital Manager
Subaccount Status Open to new investors
Number of issues 49
Turnover (fiscal year end) 60%
Net Assets $140M
Inception Date 05/01/98

Holdings

Top 10 holdings as of 04/30/18

UnitedHealth Group 6.89%
BD Medical 6.61%
Danaher Corp 6.19%
Jazz Pharmaceuticals 4.98%
Bayer Ag 4.78%
Vertex Pharmaceuticals 4.78%
Astrazeneca 4.73%
Novartis Ag 4.20%
Merck 3.83%
Boston Scientific Corp 3.61%
Top 10 holdings, total: 50.60%

Equity Holdings as of 03/31/18

UNITEDHEALTH GROUP INC 6.20%
BECTON DICKINSON AND CO 6.14%
DANAHER CORP 5.43%
JAZZ PHARMACEUTICALS PLC 5.26%
VERTEX PHARMACEUTICALS INC 5.06%
ASTRAZENECA PLC 4.61%
BAYER AG-REG 4.49%
NOVARTIS AG-REG 4.39%
BRISTOL-MYERS SQUIBB CO 3.53%
AMGEN INC 3.28%
BOSTON SCIENTIFIC CORP 3.22%
DENTSPLY SIRONA INC 3.01%
ROCHE HOLDING AG-GENUSSCHEIN 2.75%
JOHNSON & JOHNSON 2.70%
BIOGEN INC 2.20%
INTUITIVE SURGICAL INC 2.19%
MEDICINES COMPANY 2.12%
MERCK & CO. INC. 2.02%
GILEAD SCIENCES INC 1.96%
BAXTER INTERNATIONAL INC 1.68%
CHUGAI PHARMACEUTICAL CO LTD 1.65%
TAKEDA PHARMACEUTICAL CO LTD 1.63%
FRESENIUS SE & CO KGAA 1.55%
PFIZER INC 1.46%
ALEXION PHARMACEUTICALS INC 1.43%
CLOVIS ONCOLOGY INC 1.41%
ABBVIE INC 1.29%
GLAXOSMITHKLINE PLC 1.29%
CLINIGEN GROUP PLC 1.27%
NIPPON SHINYAKU CO LTD 1.15%
MIRATI THERAPEUTICS INC 1.06%
PENUMBRA INC 0.99%
SANOFI 0.91%
METTLER-TOLEDO INTERNATIONAL 0.82%
GRIFOLS SA-ADR 0.76%
AGILENT TECHNOLOGIES INC 0.72%
BIO-RAD LABORATORIES-A 0.64%
ATARA BIOTHERAPEUTICS INC 0.56%
HCA HEALTHCARE INC 0.56%
CHINA BIOLOGIC PRODUCTS HOLD 0.54%
GENMARK DIAGNOSTICS INC 0.51%
PACIRA PHARMACEUTICALS INC 0.49%
DIPLOMAT PHARMACY INC 0.47%
SIEMENS HEALTH 0.45%
ASPEN PHARMACARE HOLDINGS LT 0.37%
FEDERAL STREET ACQUISITION 0.27%
HTG MOLECULAR DIAGNOSTICS 0.25%
INCYTE CORP 0.24%
FENNEC PHARMACEUTICALS INC 0.22%
ZUR ROSE GROUP AG 0.15%
SINOPHARM GROUP CO-H 0.11%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 0.00%

Full Portfolio Holdings as of 03/31/18

UNITEDHEALTH GROUP INC 6.20%
BECTON DICKINSON AND CO 6.14%
DANAHER CORP 5.43%
JAZZ PHARMACEUTICALS PLC 5.26%
VERTEX PHARMACEUTICALS INC 5.06%
ASTRAZENECA PLC 4.61%
BAYER AG-REG 4.49%
NOVARTIS AG-REG 4.39%
BRISTOL-MYERS SQUIBB CO 3.53%
AMGEN INC 3.28%
BOSTON SCIENTIFIC CORP 3.22%
DENTSPLY SIRONA INC 3.01%
ROCHE HOLDING AG-GENUSSCHEIN 2.75%
JOHNSON & JOHNSON 2.70%
BIOGEN INC 2.20%
INTUITIVE SURGICAL INC 2.19%
MEDICINES COMPANY 2.12%
MERCK & CO. INC. 2.02%
GILEAD SCIENCES INC 1.96%
BAXTER INTERNATIONAL INC 1.68%
CHUGAI PHARMACEUTICAL CO LTD 1.65%
TAKEDA PHARMACEUTICAL CO LTD 1.63%
FRESENIUS SE & CO KGAA 1.55%
PFIZER INC 1.46%
ALEXION PHARMACEUTICALS INC 1.43%
CLOVIS ONCOLOGY INC 1.41%
ABBVIE INC 1.29%
GLAXOSMITHKLINE PLC 1.29%
CLINIGEN GROUP PLC 1.27%
NIPPON SHINYAKU CO LTD 1.15%
MIRATI THERAPEUTICS INC 1.06%
PENUMBRA INC 0.99%
SANOFI 0.91%
METTLER-TOLEDO INTERNATIONAL 0.82%
GRIFOLS SA-ADR 0.76%
AGILENT TECHNOLOGIES INC 0.72%
BIO-RAD LABORATORIES-A 0.64%
ATARA BIOTHERAPEUTICS INC 0.56%
HCA HEALTHCARE INC 0.56%
CHINA BIOLOGIC PRODUCTS HOLD 0.54%
GENMARK DIAGNOSTICS INC 0.51%
PACIRA PHARMACEUTICALS INC 0.49%
DIPLOMAT PHARMACY INC 0.47%
SIEMENS HEALTH 0.45%
ASPEN PHARMACARE HOLDINGS LT 0.37%
FEDERAL STREET ACQUISITION 0.27%
HTG MOLECULAR DIAGNOSTICS 0.25%
INCYTE CORP 0.24%
FENNEC PHARMACEUTICALS INC 0.22%
ZUR ROSE GROUP AG 0.15%
SINOPHARM GROUP CO-H 0.11%
CHF/USD 06/20/2018 JPMCB 0.01%
DKK/USD 06/20/2018 CITI 0.01%
EUR/USD 06/20/2018 BANKAM 0.01%
AUD/USD 04/18/2018 JPMCB 0.00%
INDIAN RUPEE CALL ACCOUNT 0.00%
JPY/USD 05/16/2018 CSI-FX 0.00%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 0.00%
POUND STERLING CALL ACCOUNT 0.00%

Prior top 10 holdings

Top 10 holdings as of 04/30/18
1: UnitedHealth Group 6.89%
2: BD Medical 6.61%
3: Danaher Corp 6.19%
4: Jazz Pharmaceuticals 4.98%
5: Bayer Ag 4.78%
6: Vertex Pharmaceuticals 4.78%
7: Astrazeneca 4.73%
8: Novartis Ag 4.20%
9: Merck 3.83%
10: Boston Scientific Corp 3.61%
Holdings represent 50.60% of portfolio
Top 10 holdings as of 03/31/18
1: UnitedHealth Group 6.20%
2: BD Medical 6.14%
3: Danaher Corp 5.43%
4: Jazz Pharmaceuticals 5.26%
5: Vertex Pharmaceuticals 5.06%
6: Astrazeneca 4.61%
7: Bayer Ag 4.49%
8: Novartis Ag 4.39%
9: Bristol-Myers Squibb 3.53%
10: Amgen 3.28%
Holdings represent 48.39% of portfolio
Top 10 holdings as of 02/28/18
1: UnitedHealth Group 6.39%
2: Vertex Pharmaceuticals 6.18%
3: BD Medical 6.13%
4: Bayer Ag 5.44%
5: Danaher Corp 5.28%
6: Jazz Pharmaceuticals 5.26%
7: Amgen 4.53%
8: Novartis Ag 4.42%
9: Bristol-Myers Squibb 3.60%
10: Astrazeneca 3.33%
Holdings represent 50.56% of portfolio
Top 10 holdings as of 01/31/18
1: Vertex Pharmaceuticals 6.67%
2: BD Medical 6.31%
3: UnitedHealth Group 6.29%
4: Bayer Ag 5.72%
5: Danaher Corp 5.15%
6: Jazz Pharmaceuticals 5.08%
7: Novartis Ag 4.50%
8: Amgen 4.31%
9: Biogen 3.51%
10: Merck 3.28%
Holdings represent 50.82% of portfolio

Portfolio Composition as of 04/30/18

Common stock 98.72%
Cash and net other assets 1.28%

Portfolio allocations vary over time. The fund concentrates its investments in one region or in one sector and involves more risk than a fund that invests more broadly. 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.

Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

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.

Top Industry Sectors as of 04/30/18

Pharmaceuticals 40.08%
Health Care Equipment & Supplies 26.74%
Biotechnology 17.21%
Health Care Providers & Services 10.73%
Life Sciences Tools & Services 2.68%
Cash and net other assets 1.28%
Diversified Consumer Services 0.56%
Diversified Financial Services 0.28%
Health Care Technology 0.28%
 
Other
0.16%
Food & Staples Retailing 0.16%

Country Allocation as of 04/30/18

United States 70.67%
United Kingdom 7.31%
Switzerland 7.02%
Germany 6.78%
Japan 4.27%
Cash and net other assets 1.28%
France 0.90%
Spain 0.73%
China 0.68%
 
Other
0.36%
South Africa 0.36%