Putnam Allstate Advisor

Putnam Investors Subaccount

The subaccount seeks long-term growth of capital and any increased income that results from this growth.

Fund description

The subaccount invests in stocks of large, well-established companies. Its portfolio may include stocks of companies whose products, services, and names are recognized and respected around the world. The subaccount is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking great companies for investorsA "go-anywhere" approach: The fund is not rigidly limited to a single style. Its manager can invest in growth or value stocks, targeting those that can perform well in a variety of market conditions.Disciplined process: The fund's manager use exhaustive fundamental research to look for large U.S. companies whose stock prices do not reflect their long-range prospects.Leading research: The portfolio manager is supported by Putnam's Global Equity Research Group, whose analysts visit with hundreds of companies each year.

Management team

Daily pricing as of 02/20/18

with optional enhanced death benefits
Unit Value $16.996033 $16.517114
Unit Value Change -0.099483 -0.096956

Lipper ranking ‡ as of 01/31/18

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 18% 23/133
1 yr. 11% 20/185
3 yrs. 32% 55/176
5 yrs. 23% 38/165

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ 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 Allstate Advisor
Subaccount Status Open to new investors
Number of issues 143
Turnover (fiscal year end) 50%
Net Assets $299M
Inception Date 05/01/98

Performance

Performance as of 12/31/17

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 7.28% 21.33% 21.33% 9.05% 14.25% 6.77% 3.65%
Standardized -1.97% 11.33% 11.33% 4.17% 11.42% 3.21% -0.73%
With optional enhanced death benefit
Unit Value 7.24% 21.15% 21.15% 8.89% 14.08% 6.61% 3.50%
Standardized -2.01% 11.15% 11.15% 3.99% 11.24% 3.03% -0.99%
Actual performance
Unit Value 7.28% 21.33% 21.33% 9.05% 14.25% 6.77% 2.76%
Standardized -1.97% 11.33% 11.33% 4.17% 11.42% 3.21% -3.14%
With optional enhanced death benefit
Unit Value 7.24% 21.15% 21.15% 8.89% 14.08% 6.61% 2.60%
Standardized -2.01% 11.15% 11.15% 3.99% 11.24% 3.03% -3.43%

Annual Performance at NAV

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-40.30% 29.19% 12.50% -1.21% 15.37% 33.44% 12.49% -3.40% 10.65% 21.33%
With optional enhanced death benefit
-40.40% 28.99% 12.33% -1.35% 15.19% 33.23% 12.32% -3.55% 10.49% 21.15%

Restated performance

Monthly as of 01/31/18

Unit Value 6.08%
Standardized -3.09%

YTD as of 02/20/18

Unit Value 2.30%
Standardized -6.60%

With optional enhanced death benefit

Monthly as of 01/31/18

Unit Value 6.06%
Standardized -3.10%

YTD as of 02/20/18

Unit Value 2.28%
Standardized -6.62%

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 Hartford products are flexible-premium variable annuities issued by Hartford Life and Annuity Insurance Company, 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 Hartford 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 Hartford at 1-800-521-0538 or Allstate at 1-800-390-1277.

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.

The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

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 01/31/18

Alpha (%) -1.59
Beta 1.06
R Squared 0.96
Standard Deviation (3 yrs.) 10.87

Holdings

Top 10 holdings as of 01/31/18

Microsoft Corp 4.49%
Apple 3.77%
JPMorgan Chase 3.20%
Alphabet 2.92%
Bank Of America Corp 2.34%
Cisco Systems 1.82%
Citigroup 1.81%
Walmart 1.66%
Goldman Sachs Group The 1.65%
Facebook 1.55%
Top 10 holdings, total: 25.21%

Equity Holdings as of 12/31/17

MICROSOFT CORP 4.28%
APPLE INC 4.03%
JPMORGAN CHASE & CO 3.13%
BANK OF AMERICA CORP 2.27%
ALPHABET INC-CL C 1.81%
CITIGROUP INC 1.80%
CISCO SYSTEMS INC 1.76%
JOHNSON & JOHNSON 1.66%
GOLDMAN SACHS GROUP INC 1.65%
WAL-MART STORES INC 1.62%
FACEBOOK INC-A 1.54%
COMCAST CORP-CLASS A 1.38%
BOEING CO/THE 1.34%
AMAZON.COM INC 1.30%
AMGEN INC 1.29%
HOME DEPOT INC 1.26%
AT&T INC 1.17%
MORGAN STANLEY 1.17%
ROYAL DUTCH SHELL-SPON ADR-A 1.17%
BECTON DICKINSON AND CO 1.04%
PEPSICO INC 1.02%
CATERPILLAR INC 1.00%
ALPHABET INC-CL A 0.98%
INTEL CORP 0.98%
PFIZER INC 0.92%
CONOCOPHILLIPS 0.91%
APPLIED MATERIALS INC 0.89%
DOWDUPONT INC 0.89%
LAM RESEARCH CORP 0.87%
SOUTHWEST AIRLINES CO 0.87%
VISA INC-CLASS A SHARES 0.86%
BAXTER INTERNATIONAL INC 0.83%
AMERIPRISE FINANCIAL INC 0.80%
PULTEGROUP INC 0.80%
WALT DISNEY CO/THE 0.80%
CAPITAL ONE FINANCIAL CORP 0.79%
CF INDUSTRIES HOLDINGS INC 0.78%
BIOGEN INC 0.77%
GILEAD SCIENCES INC 0.77%
LOWES COMPANIES INC 0.77%
ORACLE CORP 0.77%
FREEPORT-MCMORAN INC 0.76%
TEXAS INSTRUMENTS INC 0.75%
DELL TECHNOLOGIES INC-CL V 0.72%
MASTERCARD INC - A 0.71%
BEST BUY CO INC 0.70%
EXXON MOBIL CORP 0.70%
FEDEX CORP 0.70%
NORTHROP GRUMMAN CORP 0.68%
ABBVIE INC 0.67%
ANTHEM INC 0.67%
LIVE NATION ENTERTAINMENT IN 0.66%
CVS HEALTH CORP 0.65%
NORFOLK SOUTHERN CORP 0.63%
STATE STREET CORP 0.63%
UNITED RENTALS INC 0.63%
MCKESSON CORP 0.62%
VALERO ENERGY CORP 0.62%
WYNDHAM WORLDWIDE CORP 0.62%
LEAR CORP 0.61%
ENTERGY CORP 0.59%
EXELON CORP 0.59%
HUMANA INC 0.59%
COCA-COLA CO/THE 0.58%
ALCOA CORP 0.57%
INTL BUSINESS MACHINES CORP 0.57%
LINCOLN NATIONAL CORP 0.57%
TARGET CORP 0.57%
DXC TECHNOLOGY CO 0.56%
LAS VEGAS SANDS CORP 0.56%
EASTERLY GOVERNMENT PROPERTI 0.55%
GENERAL MOTORS CO 0.55%
ENTERPRISE PRODUCTS PARTNERS 0.54%
EXPRESS SCRIPTS HOLDING CO 0.54%
HCA HEALTHCARE INC 0.54%
NRG ENERGY INC 0.54%
TOTAL SA-SPON ADR 0.54%
HP INC 0.53%
BRISTOL-MYERS SQUIBB CO 0.52%
KROGER CO 0.52%
DEERE & CO 0.51%
RAYTHEON COMPANY 0.51%
VERIZON COMMUNICATIONS INC 0.51%
CIGNA CORP 0.50%
ARMADA HOFFLER PROPERTIES IN 0.48%
COSTCO WHOLESALE CORP 0.48%
KKR & CO LP 0.48%
ROCKWELL AUTOMATION INC 0.48%
SUNCOR ENERGY INC 0.48%
WALGREENS BOOTS ALLIANCE INC 0.47%
JAZZ PHARMACEUTICALS PLC 0.46%
ARCHER-DANIELS-MIDLAND CO 0.45%
AMERICAN INTERNATIONAL GROUP 0.44%
PIRELLI & C SPA 0.44%
SUNTRUST BANKS INC 0.44%
CBRE GROUP INC - A 0.43%
EXPEDIA INC 0.43%
HANESBRANDS INC 0.43%
MANPOWERGROUP INC 0.43%
FGL HLDGS ORD SHS RESTRICTED 0.42%
ASSURED GUARANTY LTD 0.41%
MCCORMICK & CO-NON VTG SHRS 0.41%
GAP INC/THE 0.40%
MARATHON OIL CORP 0.40%
PENN NATIONAL GAMING INC 0.40%
BIOVERATIV INC 0.39%
ADOBE SYSTEMS INC 0.38%
DELIVERY HERO AG 0.38%
FIRSTENERGY CORP 0.37%
SELECT ENERGY SVCS-A-1 0.37%
CHILDREN'S PLACE INC/THE 0.36%
INVESCO LTD 0.35%
MICRO FOCUS INTL-SPN ADR 0.35%
TPG PACE HOLDINGS CORP 0.35%
KOMATSU LTD 0.34%
KRAFT HEINZ CO/THE 0.33%
AMERICAN AIRLINES GROUP INC 0.32%
SPIRIT AEROSYSTEMS HOLD-CL A 0.31%
ENCANA CORP 0.30%
BANK OF NEW YORK MELLON CORP 0.29%
XEROX CORP 0.29%
EASTERLY ACQUISITION CORP 0.27%
J2 ACQUISITION LTD 0.27%
HANNON ARMSTRONG SUSTAINABLE 0.26%
DELTA AIR LINES INC 0.25%
KENNEDY-WILSON HOLDINGS INC 0.25%
PLAYA HOTELS & RESORTS NV 0.25%
AMERICAN TOWER CORP 05.5000 CV PFD 0.24%
FEDERAL STREET ACQUISITION 0.24%
HYATT HOTELS CORP - CL A 0.24%
OWENS CORNING 0.23%
LYONDELLBASELL INDU-CL A 0.22%
ALIGNVEST ACQUISITION II C-A 0.20%
PLAINS GP HOLDINGS LP-CL A 0.20%
BECTON DICKINSON AND CO 06.1250 CV PFD 0.18%
KIMBELL ROYALTY PARTNERS LP 0.17%
CAPITOL INVESTMENT CORP IV 0.15%
NCR CORPORATION 0.15%
HAYMAKER ACQUISITION CORP 0.14%
GORES HOLDINGS II INC 0.12%
CISION LTD 0.08%
GLOBAL FASHION GRP P/P 0.02%
J2 ACQUISITION LTD-CW20 0.02%
ALIGNVEST ACQUISITION - CW 0.01%
CISION LTD - CW22 0.01%
EASTERLY ACQ CORP - CW20 0.01%
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

MICROSOFT CORP 4.28%
APPLE INC 4.03%
JPMORGAN CHASE & CO 3.13%
BANK OF AMERICA CORP 2.27%
ALPHABET INC-CL C 1.81%
CITIGROUP INC 1.80%
CISCO SYSTEMS INC 1.76%
JOHNSON & JOHNSON 1.66%
GOLDMAN SACHS GROUP INC 1.65%
WAL-MART STORES INC 1.62%
FACEBOOK INC-A 1.54%
COMCAST CORP-CLASS A 1.38%
BOEING CO/THE 1.34%
AMAZON.COM INC 1.30%
AMGEN INC 1.29%
HOME DEPOT INC 1.26%
AT&T INC 1.17%
MORGAN STANLEY 1.17%
ROYAL DUTCH SHELL-SPON ADR-A 1.17%
BECTON DICKINSON AND CO 1.04%
PEPSICO INC 1.02%
CATERPILLAR INC 1.00%
ALPHABET INC-CL A 0.98%
INTEL CORP 0.98%
PFIZER INC 0.92%
CONOCOPHILLIPS 0.91%
APPLIED MATERIALS INC 0.89%
DOWDUPONT INC 0.89%
LAM RESEARCH CORP 0.87%
SOUTHWEST AIRLINES CO 0.87%
VISA INC-CLASS A SHARES 0.86%
BAXTER INTERNATIONAL INC 0.83%
AMERIPRISE FINANCIAL INC 0.80%
PULTEGROUP INC 0.80%
WALT DISNEY CO/THE 0.80%
CAPITAL ONE FINANCIAL CORP 0.79%
CF INDUSTRIES HOLDINGS INC 0.78%
BIOGEN INC 0.77%
GILEAD SCIENCES INC 0.77%
LOWES COMPANIES INC 0.77%
ORACLE CORP 0.77%
FREEPORT-MCMORAN INC 0.76%
TEXAS INSTRUMENTS INC 0.75%
DELL TECHNOLOGIES INC-CL V 0.72%
MASTERCARD INC - A 0.71%
BEST BUY CO INC 0.70%
EXXON MOBIL CORP 0.70%
FEDEX CORP 0.70%
NORTHROP GRUMMAN CORP 0.68%
ABBVIE INC 0.67%
ANTHEM INC 0.67%
LIVE NATION ENTERTAINMENT IN 0.66%
CVS HEALTH CORP 0.65%
NORFOLK SOUTHERN CORP 0.63%
STATE STREET CORP 0.63%
UNITED RENTALS INC 0.63%
MCKESSON CORP 0.62%
VALERO ENERGY CORP 0.62%
WYNDHAM WORLDWIDE CORP 0.62%
LEAR CORP 0.61%
ENTERGY CORP 0.59%
EXELON CORP 0.59%
HUMANA INC 0.59%
COCA-COLA CO/THE 0.58%
ALCOA CORP 0.57%
INTL BUSINESS MACHINES CORP 0.57%
LINCOLN NATIONAL CORP 0.57%
TARGET CORP 0.57%
DXC TECHNOLOGY CO 0.56%
LAS VEGAS SANDS CORP 0.56%
EASTERLY GOVERNMENT PROPERTI 0.55%
GENERAL MOTORS CO 0.55%
ENTERPRISE PRODUCTS PARTNERS 0.54%
EXPRESS SCRIPTS HOLDING CO 0.54%
HCA HEALTHCARE INC 0.54%
NRG ENERGY INC 0.54%
TOTAL SA-SPON ADR 0.54%
HP INC 0.53%
BRISTOL-MYERS SQUIBB CO 0.52%
KROGER CO 0.52%
DEERE & CO 0.51%
RAYTHEON COMPANY 0.51%
VERIZON COMMUNICATIONS INC 0.51%
CIGNA CORP 0.50%
ARMADA HOFFLER PROPERTIES IN 0.48%
COSTCO WHOLESALE CORP 0.48%
KKR & CO LP 0.48%
ROCKWELL AUTOMATION INC 0.48%
SUNCOR ENERGY INC 0.48%
WALGREENS BOOTS ALLIANCE INC 0.47%
JAZZ PHARMACEUTICALS PLC 0.46%
ARCHER-DANIELS-MIDLAND CO 0.45%
AMERICAN INTERNATIONAL GROUP 0.44%
PIRELLI & C SPA 0.44%
SUNTRUST BANKS INC 0.44%
CBRE GROUP INC - A 0.43%
EXPEDIA INC 0.43%
HANESBRANDS INC 0.43%
MANPOWERGROUP INC 0.43%
FGL HLDGS ORD SHS RESTRICTED 0.42%
ASSURED GUARANTY LTD 0.41%
MCCORMICK & CO-NON VTG SHRS 0.41%
GAP INC/THE 0.40%
MARATHON OIL CORP 0.40%
PENN NATIONAL GAMING INC 0.40%
BIOVERATIV INC 0.39%
ADOBE SYSTEMS INC 0.38%
DELIVERY HERO AG 0.38%
FIRSTENERGY CORP 0.37%
SELECT ENERGY SVCS-A-1 0.37%
CHILDREN'S PLACE INC/THE 0.36%
INVESCO LTD 0.35%
MICRO FOCUS INTL-SPN ADR 0.35%
TPG PACE HOLDINGS CORP 0.35%
KOMATSU LTD 0.34%
KRAFT HEINZ CO/THE 0.33%
AMERICAN AIRLINES GROUP INC 0.32%
SPIRIT AEROSYSTEMS HOLD-CL A 0.31%
ENCANA CORP 0.30%
BANK OF NEW YORK MELLON CORP 0.29%
XEROX CORP 0.29%
EASTERLY ACQUISITION CORP 0.27%
J2 ACQUISITION LTD 0.27%
HANNON ARMSTRONG SUSTAINABLE 0.26%
DELTA AIR LINES INC 0.25%
KENNEDY-WILSON HOLDINGS INC 0.25%
PLAYA HOTELS & RESORTS NV 0.25%
AMERICAN TOWER CORP 05.5000 CV PFD 0.24%
FEDERAL STREET ACQUISITION 0.24%
HYATT HOTELS CORP - CL A 0.24%
OWENS CORNING 0.23%
LYONDELLBASELL INDU-CL A 0.22%
ALIGNVEST ACQUISITION II C-A 0.20%
PLAINS GP HOLDINGS LP-CL A 0.20%
BECTON DICKINSON AND CO 06.1250 CV PFD 0.18%
KIMBELL ROYALTY PARTNERS LP 0.17%
CAPITOL INVESTMENT CORP IV 0.15%
NCR CORPORATION 0.15%
HAYMAKER ACQUISITION CORP 0.14%
GORES HOLDINGS II INC 0.12%
CISION LTD 0.08%
GLOBAL FASHION GRP P/P 0.02%
J2 ACQUISITION LTD-CW20 0.02%
ALIGNVEST ACQUISITION - CW 0.01%
CISION LTD - CW22 0.01%
EASTERLY ACQ CORP - CW20 0.01%
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%
POUND STERLING CALL ACCOUNT 0.00%

Prior top 10 holdings

Top 10 holdings as of 01/31/18
1: Microsoft Corp 4.49%
2: Apple 3.77%
3: JPMorgan Chase 3.20%
4: Alphabet 2.92%
5: Bank Of America Corp 2.34%
6: Cisco Systems 1.82%
7: Citigroup 1.81%
8: Walmart 1.66%
9: Goldman Sachs Group The 1.65%
10: Facebook 1.55%
Holdings represent 25.21% of portfolio
Top 10 holdings as of 12/31/17
1: Microsoft Corp 4.32%
2: Apple 4.07%
3: JPMorgan Chase 3.15%
4: Alphabet 2.78%
5: Bank Of America Corp 2.29%
6: Citigroup 1.83%
7: Cisco Systems 1.79%
8: Goldman Sachs Group The 1.67%
9: Johnson Johnson 1.66%
10: Wal-Mart Stores 1.64%
Holdings represent 25.20% of portfolio
Top 10 holdings as of 11/30/17
1: Microsoft Corp 4.30%
2: Apple 4.18%
3: JPMorgan Chase 3.12%
4: Alphabet 2.76%
5: Bank Of America Corp 2.21%
6: Citigroup 1.88%
7: Cisco Systems 1.76%
8: Johnson & Johnson 1.68%
9: Goldman Sachs Group The 1.64%
10: Wal-Mart Stores 1.64%
Holdings represent 25.17% of portfolio
Top 10 holdings as of 10/31/17
1: Microsoft Corp 4.37%
2: Apple 4.28%
3: JPMorgan Chase 3.27%
4: Alphabet 2.83%
5: Bank Of America Corp 2.25%
6: Citigroup 1.87%
7: Johnson Johnson 1.72%
8: Facebook 1.66%
9: Cisco Systems 1.65%
10: Goldman Sachs Group The 1.65%
Holdings represent 25.55% of portfolio

Portfolio Composition as of 01/31/18

Common stock 97.75%
Cash and net other assets 1.83%
Convertible preferred stock 0.42%

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.

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

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 01/31/18

Information technology 24.16%
Financials 17.48%
Consumer discretionary 13.49%
Health care 12.39%
Industrials 8.87%
Consumer staples 7.08%
Energy 6.28%
Materials 3.11%
Utilities 1.91%
 
Other
5.23%
Real estate 1.83%
Cash and net other assets 1.83%
Telecommunication services 1.57%

Expenses

Sales Charges/Fees

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

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ 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%