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. companiesSeeks above-average growth: The fund focuses on businesses that exhibit both a high level of growth and an above-average duration of growth.A thematic approach: The portfolio managers combine top-down investment themes with bottom-up research to select securities that can benefit from growth trends.Rigorous analysis: Backed by fundamental research, the managers focus on identifying management teams that act like owners.

Management team

Daily pricing as of 04/18/19

with optional enhanced death benefits
Unit Value $13.124474 $12.747084
Unit Value Change -- --

Lipper ranking ‡ as of 03/31/19

Category: Large-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 24% 38/158
1 yr. 4% 7/200
3 yrs. 9% 17/190
5 yrs. 36% 65/184

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 03/31/19

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 58
Turnover (fiscal year end) 56%
Net Assets $839M
Inception Date 02/01/00

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 16.75% 16.75% 15.04% 18.01% 12.25% 16.01% 1.31%
Standardized 6.84% 6.84% 5.25% 13.89% 9.01% 14.45% --
With optional enhanced death benefit
Unit Value 16.71% 16.71% 14.87% 17.83% 12.08% 15.84% 1.15%
Standardized 6.80% 6.80% 5.09% 13.70% 8.83% 14.27% --
Actual performance
Unit Value 16.75% 16.75% 15.04% 18.01% 12.25% 16.01% 1.31%
Standardized 6.84% 6.84% 5.25% 13.89% 9.01% 14.45% --
With optional enhanced death benefit
Unit Value -- -- -- -- -- -- --
Standardized -- -- -- -- -- -- --

Annual Performance at NAV

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
39.09% 15.85% -5.32% 16.09% 34.44% 12.49% -0.24% 5.19% 29.28% 1.10%
With optional enhanced death benefit
38.88% 15.67% -5.46% 15.92% 34.23% 12.32% -0.39% 5.03% 29.08% 0.94%

Restated performance

Monthly as of 03/31/19

Unit Value 2.81%
Standardized -6.13%

YTD as of 04/18/19

Unit Value 19.45%
Standardized 9.45%

With optional enhanced death benefit

Monthly as of 03/31/19

Unit Value 2.79%
Standardized -6.14%

YTD as of 04/18/19

Unit Value 19.40%
Standardized 9.40%

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.

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

Risk Characteristics as of 03/31/19

Alpha (%) 2.82
Beta 1.01
R Squared 0.96
Standard Deviation (3 yrs.) 12.37

Holdings

Top 10 holdings as of 03/31/19

Microsoft Corp 8.29%
Alphabet 6.51%
Apple 5.57%
Amazon.Com 4.61%
Visa 4.06%
Paypal Holdings 3.26%
UnitedHealth Group 3.03%
Salesforce.Com 2.60%
American Tower Corp 2.36%
Linde 2.31%
Top 10 holdings, total: 42.60%

Full Portfolio Holdings as of 12/31/18

MICROSOFT CORP 8.18%
ALPHABET INC-CL C 6.72%
APPLE INC 5.67%
AMAZON.COM INC 4.44%
VISA INC-CLASS A SHARES 4.28%
PAYPAL HOLDINGS INC 3.00%
UNITEDHEALTH GROUP INC 2.97%
AMERICAN TOWER CORP 2.65%
BOEING CO/THE 2.57%
SALESFORCE.COM INC 2.57%
DANAHER CORP 2.44%
HOME DEPOT INC 2.34%
LINDE PLC 2.33%
CHARTER COMMUNICATIONS INC-A 2.30%
INTERCONTINENTAL EXCHANGE IN 2.18%
SHERWIN-WILLIAMS CO/THE 2.10%
UNION PACIFIC CORP 2.09%
MCCORMICK & CO-NON VTG SHRS 1.85%
ADOBE INC 1.80%
NIKE INC -CL B 1.77%
HONEYWELL INTERNATIONAL INC 1.65%
BECTON DICKINSON AND CO 1.60%
SERVICENOW INC 1.60%
COSTAR GROUP INC 1.58%
LIVE NATION ENTERTAINMENT IN 1.53%
WORLDPAY INC-CLASS A 1.50%
VERTEX PHARMACEUTICALS INC 1.43%
WASTE CONNECTIONS INC 1.40%
BIOGEN INC 1.38%
FORTIVE CORP 1.28%
BIOMARIN PHARMACEUTICAL INC 1.27%
FACEBOOK INC-CLASS A 1.27%
METTLER-TOLEDO INTERNATIONAL 1.22%
TRANSDIGM GROUP INC 1.21%
WALMART INC 1.19%
INTUITIVE SURGICAL INC 1.14%
RAYTHEON COMPANY 1.10%
LONZA GROUP AG-REG 1.02%
PRUDENTIAL PLC 0.94%
ACTIVISION BLIZZARD INC 0.91%
REALPAGE INC 0.84%
ROPER TECHNOLOGIES INC 0.79%
DOCUSIGN INC 0.76%
UBER TECH INC P/P CV PFD 0.75%
BOSTON SCIENTIFIC CORP 0.74%
NETFLIX INC 0.74%
HILTON WORLDWIDE HOLDINGS IN 0.71%
ICU MEDICAL INC 0.69%
OKTA INC 0.68%
LIBERTY MEDIA CORP-LIBERTY-C 0.37%
OPORTUN FIN CORP P/P 0.28%
GLOBAL FASHION GRP P/P 0.06%
RESIDEO TECHNOLOGIES INC 0.01%
HC BRILLANT SERVICES GMBH P/P 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
GBP/USD 03/20/2019 BANKAM -0.01%
S&P500 EMINI FUT MAR19 ESH9 -0.09%

Prior top 10 holdings

Top 10 holdings as of 03/31/19
1: Microsoft Corp 8.29%
2: Alphabet 6.51%
3: Apple 5.57%
4: Amazon.Com 4.61%
5: Visa 4.06%
6: Paypal Holdings 3.26%
7: UnitedHealth Group 3.03%
8: Salesforce.Com 2.60%
9: American Tower Corp 2.36%
10: Linde 2.31%
Holdings represent 42.60% of portfolio
Top 10 holdings as of 02/28/19
1: Microsoft Corp 8.01%
2: Alphabet 6.32%
3: Apple 5.15%
4: Amazon.Com 4.25%
5: Visa 3.92%
6: Paypal Holdings 3.13%
7: Boeing The 3.11%
8: UnitedHealth Group 2.79%
9: Salesforce.Com 2.69%
10: American Tower Corp 2.42%
Holdings represent 41.79% of portfolio
Top 10 holdings as of 01/31/19
1: Microsoft Corp 7.77%
2: Alphabet 6.69%
3: Apple 5.12%
4: Amazon.Com 4.69%
5: Visa 4.05%
6: UnitedHealth Group 2.98%
7: Paypal Holdings 2.93%
8: Boeing The 2.72%
9: Salesforce.Com 2.64%
10: American Tower Corp 2.45%
Holdings represent 42.04% of portfolio
Top 10 holdings as of 12/31/18
1: Microsoft Corp 8.18%
2: Alphabet 6.72%
3: Apple 5.67%
4: Amazon.Com 4.44%
5: Visa 4.28%
6: Paypal Holdings 3.00%
7: UnitedHealth Group 2.97%
8: American Tower Corp 2.65%
9: Salesforce.Com 2.57%
10: Boeing The 2.57%
Holdings represent 43.05% of portfolio

Portfolio Composition as of 03/31/19

Common stock 97.43%
Cash and net other assets 1.91%
Convertible preferred stock 0.66%

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 03/31/19

Information technology 32.90%
Health care 14.27%
Industrials 13.73%
Communication services 13.36%
Consumer discretionary 11.96%
Materials 4.09%
Financials 2.93%
Consumer staples 2.49%
Real estate 2.36%
 
Other
1.91%
Cash and net other assets 1.91%

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%