Putnam Allstate Advisor

Putnam Growth Opportunities Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in large U.S. companies with strong revenue and earnings growth prospects. Members of the management team target established companies that are believed to be leaders in their industries with the potential to grow rapidly. The fund's portfolio typically includes world-renowned businesses whose size and scale give them a competitive advantage.

Sales story

Seeking to harness the growth potential of large U.S. companiesA large-company focus: The fund invests in large U.S. companies, targeting those with a competitive edge in markets around the world and the potential to produce strong profits.A rigorous process: The fund's manager uses rigorous fundamental investment research to find opportunities and manage risk.A focus on quality: The manager seeks companies with solid management, sound financials, and products or services that are benefiting from growing demand.

Management team

Daily pricing as of 04/26/18

with optional enhanced death benefits
Unit Value $11.290496 $10.982028
Unit Value Change 0.219647 0.213602

Lipper ranking ‡ as of 03/31/18

Category: Large-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 35% 56/162
1 yr. 51% 104/205
3 yrs. 58% 114/196
5 yrs. 44% 83/192

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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 03/31/18

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 83
Turnover (fiscal year end) 59%
Net Assets $794M
Inception Date 02/01/00

Performance

Performance as of 03/31/18

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 2.60% 2.60% 21.07% 10.79% 14.18% 10.02% 0.60%
Standardized -6.32% -6.32% 11.07% 5.99% 11.25% 7.30% --
With optional enhanced death benefit
Unit Value 2.56% 2.56% 20.89% 10.62% 14.01% 9.85% 0.45%
Standardized -6.36% -6.36% 10.89% 5.82% 11.07% 7.12% --
Actual performance
Unit Value 2.60% 2.60% 21.07% 10.79% 14.18% 10.02% 0.60%
Standardized -6.32% -6.32% 11.07% 5.99% 11.25% 7.30% --
With optional enhanced death benefit
Unit Value -- -- -- -- -- -- --
Standardized -- -- -- -- -- -- --

Annual Performance at NAV

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-38.46% 39.09% 15.85% -5.32% 16.09% 34.44% 12.49% -0.24% 5.19% 29.28%
With optional enhanced death benefit
-38.56% 38.88% 15.67% -5.46% 15.92% 34.23% 12.32% -0.39% 5.03% 29.08%

Restated performance

Monthly as of 03/31/18

Unit Value -2.93%
Standardized -11.47%

YTD as of 04/26/18

Unit Value 3.88%
Standardized -5.13%

With optional enhanced death benefit

Monthly as of 03/31/18

Unit Value -2.94%
Standardized -11.48%

YTD as of 04/26/18

Unit Value 3.83%
Standardized -5.17%

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.

Recent performance benefitted from receipt of an Enron Class Action Settlement pertaining to investments made prior to 2002.

Risk Characteristics as of 03/31/18

Alpha (%) -2.02
Beta 1.11
R Squared 0.96
Standard Deviation (3 yrs.) 12.26

Holdings

Top 10 holdings as of 03/31/18

Amazon.Com 7.18%
Microsoft Corp 6.50%
Alphabet 5.76%
Visa 4.58%
Apple 4.52%
BD Medical 2.58%
Paypal Holdings 2.50%
Home Depot The 2.46%
UnitedHealth Group 2.19%
Alibaba Group Holding 2.10%
Top 10 holdings, total: 40.37%

Equity Holdings as of 12/31/17

ALPHABET INC-CL C 6.03%
AMAZON.COM INC 5.94%
MICROSOFT CORP 5.06%
VISA INC-CLASS A SHARES 4.68%
APPLE INC 4.62%
FACEBOOK INC-A 3.88%
NORFOLK SOUTHERN CORP 2.78%
HOME DEPOT INC 2.61%
BANK OF AMERICA CORP 2.46%
BECTON DICKINSON AND CO 2.45%
UNITEDHEALTH GROUP INC 2.02%
NORTHROP GRUMMAN CORP 2.01%
ALIBABA GROUP HOLDING-SP ADR 2.00%
PAYPAL HOLDINGS INC 1.98%
DANAHER CORP 1.97%
HEINEKEN NV 1.90%
SALESFORCE.COM INC 1.62%
ADOBE SYSTEMS INC 1.48%
BROADCOM LTD 1.45%
MCCORMICK & CO-NON VTG SHRS 1.30%
BOEING CO/THE 1.29%
BOSTON SCIENTIFIC CORP 1.28%
BIOGEN INC 1.24%
MCKESSON CORP 1.22%
SHERWIN-WILLIAMS CO/THE 1.10%
UNITED TECHNOLOGIES CORP 1.09%
HILTON WORLDWIDE HOLDINGS IN 1.07%
VERTEX PHARMACEUTICALS INC 1.05%
BLACKROCK INC 1.04%
DOVER CORP 1.04%
SUNCOR ENERGY INC 1.02%
LIVE NATION ENTERTAINMENT IN 0.97%
CHARTER COMMUNICATIONS INC-A 0.94%
SCHWAB (CHARLES) CORP 0.94%
INTERCONTINENTAL EXCHANGE IN 0.93%
AMERICAN TOWER CORP 0.90%
DEVON ENERGY CORP 0.89%
PRAXAIR INC 0.87%
CONSTELLATION BRANDS INC-A 0.85%
HUMANA INC 0.85%
PRICELINE GROUP INC/THE 0.84%
FORTUNE BRANDS HOME & SECURI 0.78%
EQUINIX INC 0.73%
ADIDAS AG 0.70%
INTUITIVE SURGICAL INC 0.69%
ROPER TECHNOLOGIES INC 0.69%
FMC CORP 0.68%
LAS VEGAS SANDS CORP 0.67%
STMICROELECTRONICS NV-NY SHS 0.65%
PRUDENTIAL PLC 0.64%
FORTIVE CORP 0.63%
SUMMIT MATERIALS INC -CL A 0.63%
YUM CHINA HOLDINGS INC 0.62%
UBER TECH INC P/P CV PFD 0.59%
PULTEGROUP INC 0.58%
NETFLIX INC 0.57%
NVIDIA CORP 0.57%
ROCKWELL AUTOMATION INC 0.56%
ACTIVISION BLIZZARD INC 0.55%
JAZZ PHARMACEUTICALS PLC 0.55%
PIRELLI & C SPA 0.54%
SERVICENOW INC 0.52%
ABBVIE INC 0.50%
AGILENT TECHNOLOGIES INC 0.49%
ALBEMARLE CORP 0.47%
TENCENT HOLDINGS LTD 0.47%
KION GROUP AG 0.44%
APPLIED MATERIALS INC 0.41%
BIOVERATIV INC 0.41%
PLAINS GP HOLDINGS LP-CL A 0.41%
MICRON TECHNOLOGY INC 0.37%
DELIVERY HERO AG 0.28%
BIO-RAD LABORATORIES-A 0.27%
SELECT ENERGY SVCS-A-1 0.25%
TALEND SA - ADR 0.24%
DISH NETWORK CORP-A 0.21%
YY INC-ADR 0.21%
MONSTER BEVERAGE CORP 0.18%
OPORTUN FIN CORP P/P SERIES H PFD 0.14%
ENVEN ENERGY CORP - P/P 144A 0.11%
GLOBAL FASHION GRP P/P 0.06%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
OPORTUN FIN C-1 PFD CV P/P 0.01%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
FABFURNISH GMBH P/P 0.00%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%

Full Portfolio Holdings as of 12/31/17

ALPHABET INC-CL C 6.03%
AMAZON.COM INC 5.94%
MICROSOFT CORP 5.06%
VISA INC-CLASS A SHARES 4.68%
APPLE INC 4.62%
FACEBOOK INC-A 3.88%
NORFOLK SOUTHERN CORP 2.78%
HOME DEPOT INC 2.61%
BANK OF AMERICA CORP 2.46%
BECTON DICKINSON AND CO 2.45%
UNITEDHEALTH GROUP INC 2.02%
NORTHROP GRUMMAN CORP 2.01%
ALIBABA GROUP HOLDING-SP ADR 2.00%
PAYPAL HOLDINGS INC 1.98%
DANAHER CORP 1.97%
HEINEKEN NV 1.90%
SALESFORCE.COM INC 1.62%
ADOBE SYSTEMS INC 1.48%
BROADCOM LTD 1.45%
MCCORMICK & CO-NON VTG SHRS 1.30%
BOEING CO/THE 1.29%
BOSTON SCIENTIFIC CORP 1.28%
BIOGEN INC 1.24%
MCKESSON CORP 1.22%
SHERWIN-WILLIAMS CO/THE 1.10%
UNITED TECHNOLOGIES CORP 1.09%
HILTON WORLDWIDE HOLDINGS IN 1.07%
VERTEX PHARMACEUTICALS INC 1.05%
BLACKROCK INC 1.04%
DOVER CORP 1.04%
SUNCOR ENERGY INC 1.02%
LIVE NATION ENTERTAINMENT IN 0.97%
CHARTER COMMUNICATIONS INC-A 0.94%
SCHWAB (CHARLES) CORP 0.94%
INTERCONTINENTAL EXCHANGE IN 0.93%
AMERICAN TOWER CORP 0.90%
DEVON ENERGY CORP 0.89%
PRAXAIR INC 0.87%
CONSTELLATION BRANDS INC-A 0.85%
HUMANA INC 0.85%
PRICELINE GROUP INC/THE 0.84%
FORTUNE BRANDS HOME & SECURI 0.78%
EQUINIX INC 0.73%
ADIDAS AG 0.70%
INTUITIVE SURGICAL INC 0.69%
ROPER TECHNOLOGIES INC 0.69%
FMC CORP 0.68%
LAS VEGAS SANDS CORP 0.67%
STMICROELECTRONICS NV-NY SHS 0.65%
PRUDENTIAL PLC 0.64%
FORTIVE CORP 0.63%
SUMMIT MATERIALS INC -CL A 0.63%
YUM CHINA HOLDINGS INC 0.62%
UBER TECH INC P/P CV PFD 0.59%
PULTEGROUP INC 0.58%
NETFLIX INC 0.57%
NVIDIA CORP 0.57%
ROCKWELL AUTOMATION INC 0.56%
ACTIVISION BLIZZARD INC 0.55%
JAZZ PHARMACEUTICALS PLC 0.55%
PIRELLI & C SPA 0.54%
SERVICENOW INC 0.52%
FINANCIAL SELECT SECTOR SPDR 0.51%
ABBVIE INC 0.50%
AGILENT TECHNOLOGIES INC 0.49%
ALBEMARLE CORP 0.47%
TENCENT HOLDINGS LTD 0.47%
KION GROUP AG 0.44%
APPLIED MATERIALS INC 0.41%
BIOVERATIV INC 0.41%
PLAINS GP HOLDINGS LP-CL A 0.41%
MICRON TECHNOLOGY INC 0.37%
DELIVERY HERO AG 0.28%
BIO-RAD LABORATORIES-A 0.27%
SELECT ENERGY SVCS-A-1 0.25%
TALEND SA - ADR 0.24%
DISH NETWORK CORP-A 0.21%
YY INC-ADR 0.21%
MONSTER BEVERAGE CORP 0.18%
OPORTUN FIN CORP P/P SERIES H PFD 0.14%
ENVEN ENERGY CORP - P/P 144A 0.11%
GLOBAL FASHION GRP P/P 0.06%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
OPORTUN FIN C-1 PFD CV P/P 0.01%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
CANADIAN DOLLAR ACCOUNT 0.00%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
ENVEN ENERGY CORP-CW P/P 144A 0.00%
EUR/USD 03/21/2018 JPMCB 0.00%
EUR/USD 03/21/2018 SSBT 0.00%
EUR/USD 03/21/2018 UBS 0.00%
FABFURNISH GMBH P/P 0.00%
GBP/USD 03/21/2018 BANKAM 0.00%
HONG KONG DOLLAR CALL ACCOUNT 0.00%
NEURALSTEM INC SERIES K COMMON STOCK PURCHASE WARRANT 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%
POUND STERLING CALL ACCOUNT 0.00%
S&P500 EMINI FUT MAR18 ESH8 0.00%

Prior top 10 holdings

Top 10 holdings as of 03/31/18
1: Amazon.Com 7.18%
2: Microsoft Corp 6.50%
3: Alphabet 5.76%
4: Visa 4.58%
5: Apple 4.52%
6: BD Medical 2.58%
7: Paypal Holdings 2.50%
8: Home Depot The 2.46%
9: UnitedHealth Group 2.19%
10: Alibaba Group Holding 2.10%
Holdings represent 40.37% of portfolio
Top 10 holdings as of 02/28/18
1: Amazon.Com 7.24%
2: Microsoft Corp 6.24%
3: Alphabet 6.07%
4: Visa 4.81%
5: Apple 4.63%
6: Home Depot The 2.52%
7: BD Medical 2.49%
8: Facebook 2.49%
9: Paypal Holdings 2.47%
10: UnitedHealth Group 2.26%
Holdings represent 41.22% of portfolio
Top 10 holdings as of 01/31/18
1: Amazon 6.79%
2: Alphabet 6.21%
3: Microsoft 6.01%
4: Visa 4.69%
5: Apple 4.20%
6: Facebook 3.16%
7: Norfolk Southern Corp 2.64%
8: Home Depot 2.56%
9: BD Medical 2.54%
10: Bank of America 2.47%
Holdings represent 41.27% of portfolio
Top 10 holdings as of 12/31/17
1: Alphabet 6.03%
2: Amazon.Com 5.94%
3: Microsoft Corp 5.06%
4: Visa 4.68%
5: Apple 4.62%
6: Facebook 3.88%
7: Norfolk Southern Corp 2.78%
8: Home Depot The 2.61%
9: Bank Of America Corp 2.46%
10: Becton Dickinson And 2.45%
Holdings represent 40.51% of portfolio

Portfolio Composition as of 03/31/18

Common stock 98.67%
Convertible preferred stock 0.72%
Cash and net other assets 0.61%

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.

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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.

Top Industry Sectors as of 03/31/18

Information technology 36.46%
Consumer discretionary 20.50%
Health care 13.88%
Industrials 13.28%
Financials 5.68%
Materials 3.61%
Consumer staples 3.30%
Real estate 2.17%
Cash and net other assets 0.61%
 
Other
0.51%
Energy 0.51%

Expenses

Sales Charges/Fees

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

This fund concentrates its assets in fewer stocks, which can affect your fund's performance. 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.

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%