Putnam Allstate Advisor

Putnam Global Equity Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount targets midsize and large industry leaders with consistent earnings growth improvement and the likelihood of positive earnings surprises. The fund managers seek companies in the U.S. and abroad with high rates of growth and dominant market share.

Sales story

Selecting companies around the world that are attractive for investorsEstablished companies: The fund invests in large and midsize companies in the United States and developed international markets to benefit from global opportunities.A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads global 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

Daily pricing as of 04/18/19

with optional enhanced death benefits
Unit Value $15.593893 $15.12797
Unit Value Change -- --

Lipper ranking ‡ as of 03/31/19

Category: Global Multi-Cap Growth

  Percentile ranking Rank/Funds in category
10 yrs. 56% 10/17
1 yr. 89% 22/24
3 yrs. 83% 19/22
5 yrs. 86% 18/20

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 03/31/19

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 88
Turnover (fiscal year end) 53%
Net Assets $150M
Inception Date 05/01/90

Performance

Performance as of 03/31/19

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 13.07% 13.07% -1.89% 8.90% 3.45% 10.70% 4.87%
Standardized 3.42% 3.42% -10.49% 4.38% -0.34% 9.00% 2.85%
With optional enhanced death benefit
Unit Value 13.03% 13.03% -2.03% 8.73% 3.30% 10.54% 4.71%
Standardized 3.38% 3.38% -10.63% 4.20% -0.51% 8.82% 2.65%
Actual performance
Unit Value 13.07% 13.07% -1.89% 8.90% 3.45% 10.70% 2.15%
Standardized 3.42% 3.42% -10.49% 4.38% -0.34% 9.00% -2.66%
With optional enhanced death benefit
Unit Value 13.03% 13.03% -2.03% 8.73% 3.30% 10.54% 2.00%
Standardized 3.38% 3.38% -10.63% 4.20% -0.51% 8.82% -2.93%

Annual Performance at NAV

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
28.35% 8.46% -6.14% 18.67% 30.33% 0.20% -2.94% -0.19% 26.78% -13.53%
With optional enhanced death benefit
28.15% 8.30% -6.28% 18.49% 30.13% 0.05% -3.08% -0.34% 26.59% -13.66%

Restated performance

Monthly as of 03/31/19

Unit Value 1.36%
Standardized -7.48%

YTD as of 04/18/19

Unit Value 15.38%
Standardized 5.56%

With optional enhanced death benefit

Monthly as of 03/31/19

Unit Value 1.35%
Standardized -7.49%

YTD as of 04/18/19

Unit Value 15.32%
Standardized 5.51%

Unit values and performance information shown apply to the specific annuity product listed, not the underlying Putnam Variable Trust fund. This information should not be used by investors who hold an interest in Putnam Variable Trust funds through a different annuity or other variable product. The unit values and performance of other variable products that offer Putnam Variable Trust funds may be higher or lower due to product charges and expenses or other factors.

Data is historical. Past performance is no guarantee of future results. More recent returns may be less or more than those shown. Investment return and principal value will fluctuate, and you may have a gain or a loss when you sell your units.

Returns shown for the subaccounts for periods before their inception are derived from the historical performance of the underlying fund, adjusted to reflect the mortality, expense risk, and surrender charges applicable to this product and do not factor in the annual $30 contract maintenance fee. Additional riders and options for insurance-related charges will increase expenses and lower returns. Please see the prospectus for details. For a portion of the period, subaccounts may have limited expenses, without which returns would have been lower.

Variable annuities are long-term investments designed for retirement purposes. Putnam Capital Manager products are flexible-premium variable annuities held by Talcott Resolution Life, Inc., Simsbury, CT.

Putnam Allstate variable annuities are flexible-premium deferred variable annuities issued by Allstate Life Insurance Company (Allstate Life); underwritten by Allstate Distributors, L.L.C., both of Northbrook, IL; and sold through registered representatives or bank employees who are licensed insurance agents. Please check for availability in your specific state.

These policies have limitations and are sold by prospectus only. The prospectus contains details on the variable annuity, the subaccounts, contract features, fees, expenses, and other pertinent information.

Investors should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus containing this and other information for any variable annuity or variable life product that invests in Putnam Variable Trust funds, contact your financial advisor for a contract prospectus and prospectus for the underlying funds. You may also call Talcott Resolution at 1-800-521-0538 or Allstate at 1-800-390-1277. Read the prospectuses carefully before investing.

For the most recent month-end performance, please call Talcott Resolution at 1-800-521-0538 or Allstate at 1-800-390-1277.

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.

Risk Characteristics as of 03/31/19

Alpha (%) -0.96
Beta 1.06
R Squared 0.91
Standard Deviation (3 yrs.) 10.98

Holdings

Top 10 holdings as of 03/31/19

Nrg Energy 4.00%
Assured Guaranty 3.15%
Alphabet 3.09%
Unilever Nv 2.42%
Amazon.Com 2.37%
BD Medical 2.22%
Boston Scientific Corp 1.92%
Cenovus Energy 1.83%
Nomad Foods 1.80%
Servicenow 1.78%
Top 10 holdings, total: 24.58%

Full Portfolio Holdings as of 12/31/18

NRG ENERGY INC 4.17%
ALPHABET INC-CL C 3.07%
ASSURED GUARANTY LTD 3.05%
UNILEVER NV-CVA 2.52%
AMAZON.COM INC 2.31%
BECTON DICKINSON AND CO 2.23%
BALL CORP 2.01%
BOSTON SCIENTIFIC CORP 1.97%
ADVANCE AUTO PARTS 1.78%
COMPASS GROUP PLC 1.69%
NOMAD FOODS LTD 1.65%
CENOVUS ENERGY INC 1.64%
PERNOD RICARD SA 1.58%
BANK OF AMERICA CORP 1.44%
KINDER MORGAN INC 1.44%
SERVICENOW INC 1.44%
UNION PACIFIC CORP 1.42%
SUNCOR ENERGY INC 1.40%
FAIRFAX FINANCIAL HLDGS LTD 1.33%
VISA INC-CLASS A SHARES 1.33%
DANAHER CORP 1.25%
UNIVERSAL ENTERTAINMENT CORP 1.23%
SHISEIDO CO LTD 1.19%
HILTON WORLDWIDE HOLDINGS IN 1.16%
PIRELLI & C SPA 1.15%
ASAHI GROUP HOLDINGS LTD 1.14%
ENTERPRISE PRODUCTS PARTNERS 1.14%
EURAZEO SE 1.11%
LENNAR CORP-A 1.11%
CIGNA CORP 1.10%
SHERWIN-WILLIAMS CO/THE 1.10%
MICROSOFT CORP 1.08%
PALTAC CORPORATION 1.07%
ADOBE INC 1.06%
LIVE NATION ENTERTAINMENT IN 1.06%
DXC TECHNOLOGY CO 1.05%
CHENIERE ENERGY INC 1.04%
KYUDENKO CORP 1.03%
PRUDENTIAL PLC 1.03%
GODADDY INC - CLASS A 1.02%
FIRST DATA CORP- CLASS A 1.01%
YELLOW CAKE PLC 0.99%
CONOCOPHILLIPS 0.98%
KENNEDY-WILSON HOLDINGS INC 0.98%
COCA-COLA CO/THE 0.95%
HERSHEY CO/THE 0.95%
NXP SEMICONDUCTORS NV 0.95%
RADIAN GROUP INC 0.95%
LOWES COMPANIES INC 0.94%
SUMMIT MATERIALS INC -CL A 0.94%
EMERSON ELECTRIC CO 0.92%
TOSHIBA CORP 0.92%
SCREEN HOLDINGS CO LTD 0.91%
VERTEX PHARMACEUTICALS INC 0.91%
TEXTRON INC 0.90%
L3 TECHNOLOGIES INC 0.89%
REALPAGE INC 0.89%
BAYER AG-REG 0.85%
OPEN HOUSE CO LTD 0.85%
UBER TECH INC P/P CV PFD 0.85%
EDELWEISS FINANCIAL SERVICES 0.83%
PIONEER NAT RES CO 0.83%
JOHNSON CONTROLS INTERNATION 0.82%
SIG COMBIBLOC GROUP 0.81%
ASSOCIATED BRITISH FOODS PLC 0.79%
BANK OF IRELAND GROUP PLC 0.79%
E*TRADE FINANCIAL CORPORATION 0.79%
ICU MEDICAL INC 0.79%
SINO-AMERICAN SILICON PRODUC 0.79%
QBE INSURANCE GROUP LTD 0.78%
ACTIVISION BLIZZARD INC 0.77%
ASTRAZENECA PLC 0.74%
HIBERNIA REIT PLC 0.72%
DALATA HOTEL GROUP PLC 0.71%
SAMSUNG ELECTRONICS CO LTD 0.70%
CHALLENGER LTD 0.69%
KKR & CO INC -A 0.68%
SEVEN GENERATIONS ENERGY - A 0.68%
JAZZ PHARMACEUTICALS PLC 0.65%
KION GROUP AG 0.65%
COMPUGROUP MEDICAL SE 0.59%
INSTRUCTURE INC 0.59%
NINTENDO CO LTD 0.58%
ASHTEAD GROUP PLC 0.56%
ASSA ABLOY AB-B 0.46%
ALCOA CORP 0.40%
REALOGY HOLDINGS CORP 0.36%
CHF/USD 03/20/2019 BCAP-FX 0.04%
GLOBAL FASHION GRP P/P 0.04%
GLOBAL FASHION GRP 0.03%
DKK/USD 03/20/2019 CITI 0.01%
EUR/USD 03/20/2019 GSFX 0.01%
SEK/USD 03/20/2019 JPMCB 0.01%
AUD/USD 01/16/2019 BCAP-FX 0.00%
AUD/USD 01/16/2019 JPMCB 0.00%
AUD/USD 01/16/2019 SSBT 0.00%
CAD/USD 01/16/2019 BANKAM 0.00%
CAD/USD 01/16/2019 CITI 0.00%
CAD/USD 01/16/2019 GSFX 0.00%
CAD/USD 01/16/2019 SSBT 0.00%
CHF/USD 03/20/2019 JPMCB 0.00%
CNH/USD 02/20/2019 GSFX 0.00%
HC BRILLANT SERVICES GMBH P/P 0.00%
HKD/USD 02/20/2019 BANKAM 0.00%
HKD/USD 02/20/2019 BCAP-FX 0.00%
ILS/USD 01/16/2019 SSBT 0.00%
JPY/USD 02/20/2019 BANKAM 0.00%
JPY/USD 02/20/2019 CITI 0.00%
JPY/USD 02/20/2019 GSFX 0.00%
JPY/USD 02/20/2019 JPMCB 0.00%
JPY/USD 02/20/2019 SSBT 0.00%
KRW/USD 02/20/2019 JPMCB 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NOK/USD 03/20/2019 JPMCB 0.00%
SGD/USD 02/20/2019 JPMCB 0.00%
TWD/USD 02/20/2019 GSFX -0.01%
GBP/USD 03/20/2019 BANKAM -0.02%

Prior top 10 holdings

Top 10 holdings as of 03/31/19
1: Nrg Energy 4.00%
2: Assured Guaranty 3.15%
3: Alphabet 3.09%
4: Unilever Nv 2.42%
5: Amazon.Com 2.37%
6: BD Medical 2.22%
7: Boston Scientific Corp 1.92%
8: Cenovus Energy 1.83%
9: Nomad Foods 1.80%
10: Servicenow 1.78%
Holdings represent 24.58% of portfolio
Top 10 holdings as of 02/28/19
1: Nrg Energy 3.93%
2: Assured Guaranty 2.97%
3: Alphabet 2.96%
4: Unilever Nv 2.26%
5: Becton Dickinson And 2.22%
6: Amazon.Com 2.19%
7: Boston Scientific Corp 2.02%
8: Cenovus Energy 1.93%
9: Nomad Foods 1.78%
10: Servicenow 1.73%
Holdings represent 23.99% of portfolio
Top 10 holdings as of 01/31/19
1: Nrg Energy 4.02%
2: Alphabet 3.09%
3: Assured Guaranty 3.02%
4: Amazon.Com 2.47%
5: Becton Dickinson And 2.31%
6: Unilever Nv 2.31%
7: Ball Corp 2.14%
8: Boston Scientific Corp 1.99%
9: Cenovus Energy 1.71%
10: Nomad Foods 1.70%
Holdings represent 24.76% of portfolio
Top 10 holdings as of 12/31/18
1: Nrg Energy 4.17%
2: Alphabet 3.07%
3: Assured Guaranty 3.05%
4: Unilever Nv 2.52%
5: Amazon.Com 2.31%
6: Becton Dickinson And 2.23%
7: Ball Corp 2.01%
8: Boston Scientific Corp 1.97%
9: Advance Auto Parts 1.78%
10: Compass Group 1.69%
Holdings represent 24.80% of portfolio

Portfolio Composition as of 03/31/19

Common stock 97.84%
Cash and net other assets 1.36%
Convertible preferred stock 0.80%

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 03/31/19

Information technology 15.42%
Consumer discretionary 14.40%
Financials 12.82%
Consumer staples 11.10%
Health care 9.79%
Energy 9.57%
Industrials 6.96%
Communication services 6.64%
Materials 5.38%
 
Other
7.92%
Utilities 4.00%
Real estate 2.56%
Cash and net other assets 1.36%

Country Allocation as of 03/31/19

United States 62.44%
Japan 8.63%
United Kingdom 7.64%
Canada 5.07%
France 2.65%
Netherlands 2.42%
Ireland 2.25%
Cash and net other assets 1.36%
Australia 1.32%
 
Other
6.22%
Germany 1.18%
Italy 1.12%
India 1.01%
Switzerland 0.84%
Taiwan 0.79%
Denmark 0.68%
South Korea 0.54%
Luxembourg 0.06%

Expenses

Sales Charges/Fees

Breakpoint Sales Charge Dealer Allowance CDSC Liab
$0 - $0 0.00% 0.00% N

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.

CDSC

Year Percent
1 7.00%
2 7.00%
3 6.00%
4 5.00%
5 4.00%
6 3.00%
7 2.00%
8+ 0.00%