Putnam Allstate Advisor

Putnam Multi-Cap Core Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in stocks of U.S companies of all sizes. The subaccount is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking opportunities across a wide range of stocks"Go anywhere" approach: The fund invests in stocks of U.S. companies of all sizes and has the flexibility to own both growth and value stocks.A disciplined process: The portfolio managers use a disciplined, fundamental investment process with three buckets of idea generation: legacy companies, smart-money indicators, and special situations.Research focus: Backed by an Equity Research team, the portfolio managers use their stock-picking expertise to identify opportunities and manage risk.

Management team

Daily pricing as of 07/13/20

with optional enhanced death benefits
Unit Value $18.537417 $17.950148
Unit Value Change -0.140353 -0.136132

Lipper ranking ‡ as of 05/31/20

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 48% 56/118
1 yr. 42% 63/152
3 yrs. 66% 96/146
5 yrs. 76% 106/140

‡ 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 06/30/20

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 140
Turnover (fiscal year end) 24%
Net Assets $239M
Inception Date 04/30/98

Performance

Performance as of 06/30/20

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 20.80% -7.15% 4.42% 7.71% 7.22% 11.60% 3.68%
Standardized 10.80% -15.39% -4.63% 3.09% 3.73% 9.76% -0.36%
With optional enhanced death benefit
Unit Value 20.75% -7.22% 4.26% 7.55% 7.06% 11.43% 3.53%
Standardized 10.75% -15.45% -4.77% 2.92% 3.55% 9.58% -0.61%
Actual performance
Unit Value 20.80% -7.15% 4.42% 7.71% 7.22% 11.60% 2.89%
Standardized 10.80% -15.39% -4.63% 3.09% 3.73% 9.76% -2.57%
With optional enhanced death benefit
Unit Value 20.75% -7.22% 4.26% 7.55% 7.06% 11.43% 2.74%
Standardized 10.75% -15.45% -4.77% 2.92% 3.55% 9.58% -2.86%

Annual Performance at NAV

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
12.50% -1.21% 15.37% 33.44% 12.49% -3.40% 10.65% 21.33% -8.79% 29.99%
With optional enhanced death benefit
12.33% -1.35% 15.19% 33.23% 12.32% -3.55% 10.49% 21.15% -8.93% 29.80%

Restated performance

Monthly as of 06/30/20

Unit Value 1.67%
Standardized -7.19%

YTD as of 06/30/20

Unit Value -7.15%
Standardized -15.39%

With optional enhanced death benefit

Monthly as of 06/30/20

Unit Value 1.65%
Standardized -7.20%

YTD as of 06/30/20

Unit Value -7.22%
Standardized -15.45%

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.


Holdings

Microsoft Corp 7.91%
Apple 6.23%
Amazon.Com 3.48%
Alphabet 3.07%
Bank Of America Corp 2.46%
JPMorgan Chase 2.08%
Cisco Systems 1.97%
Amgen 1.88%
Visa 1.87%
Facebook 1.86%
Top 10 holdings, total: 32.81%


Top 10 holdings as of 05/31/20
1: Microsoft Corp 7.91%
2: Apple 6.23%
3: Amazon.Com 3.48%
4: Alphabet 3.07%
5: Bank Of America Corp 2.46%
6: JPMorgan Chase 2.08%
7: Cisco Systems 1.97%
8: Amgen 1.88%
9: Visa 1.87%
10: Facebook 1.86%
Holdings represent 32.81% of portfolio
Top 10 holdings as of 04/30/20
1: Microsoft Corp 8.46%
2: Apple 6.29%
3: Amazon.Com 3.65%
4: Alphabet 3.16%
5: Bank Of America Corp 2.61%
6: JPMorgan Chase 2.29%
7: Amgen 2.07%
8: Cisco Systems 1.86%
9: Walmart 1.85%
10: Berkshire Hathaway 1.81%
Holdings represent 34.05% of portfolio
Top 10 holdings as of 03/31/20
1: Microsoft Corp 8.87%
2: Apple 6.66%
3: Amazon.Com 3.25%
4: Alphabet 3.14%
5: Bank Of America Corp 2.52%
6: JPMorgan Chase 2.43%
7: Walmart 2.07%
8: Visa 2.06%
9: Berkshire Hathaway 2.00%
10: Cisco Systems 1.98%
Holdings represent 34.98% of portfolio
Top 10 holdings as of 02/29/20
1: Microsoft Corp 7.82%
2: Apple 6.09%
3: Alphabet 2.94%
4: Amazon.Com 2.66%
5: JPMorgan Chase 2.66%
6: Bank Of America Corp 2.36%
7: Visa 1.97%
8: Walmart 1.82%
9: Cisco Systems 1.72%
10: Amgen 1.71%
Holdings represent 31.75% of portfolio


Portfolio Composition as of 05/31/20

Common stock 98.62%
Convertible bonds 0.78%
Cash and net other assets 0.60%

Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund. 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 05/31/20

Information technology 25.66%
Health care 14.50%
Financials 13.19%
Consumer discretionary 12.70%
Communication services 8.68%
Industrials 7.31%
Consumer staples 6.07%
Energy 3.89%
Real estate 2.74%
 
Other
5.26%
Utilities 2.47%
Materials 2.19%
Cash and net other assets 0.60%

Expenses

Sales Charges/Fees

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

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%