Putnam Allstate Advisor Plus
Putnam International Value Subaccount
The subaccount seeks capital growth. Current income is a secondary objective.
- Highlights
- Performance
- Holdings
- Expenses
Fund Description
The subaccount applies Putnam's value-oriented strategy of seeking undervalued stocks outside the United States. By buying mostly dividend paying stocks with relatively low valuations, the fund pursues capital growth and, secondarily, current income. The fund is positioned to benefit from the spread of corporate strategies focusing on shareholder value outside the United States.
Sales Story
Benefiting from undervalued international companies experiencing positive change International companies: The fund invests in international large and midsize companies to benefit from business opportunities outside the United States.A value strategy: The fund focuses on companies whose stocks are priced below their long-term potential, and where there may be a catalyst for positive change.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
- Karan Sodhi, CFA (Investing since 1998)
- Darren A. Jaroch, CFA (Investing since 1996)
Daily Pricing as of 03/04/15
| with optional enhanced death benefits | ||
|---|---|---|
| Unit Value | $13.087589 | $12.790886 |
| Unit Value Change | -0.025773 | -0.025243 |
‡ Lipper Ranking as of 01/31/15
Category: International Large-Cap Value
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 62% | 11/17 |
| 1 yr. | 88% | 27/30 |
| 3 yrs. | 52% | 16/30 |
| 5 yrs. | 42% | 13/30 |
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.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
‡ 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.
Performance as of 12/31/14
| Annualized Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | -6.47% | -10.94% | -10.94% | 8.65% | 2.78% | 1.14% | 3.55% |
| Standardized | -13.95% | -18.06% | -18.06% | 6.34% | 1.68% | 1.14% | 3.55% |
| With optional enhanced death benefit | |||||||
| Unit Value | -6.50% | -11.07% | -11.07% | 8.48% | 2.63% | 0.98% | 3.39% |
| Standardized | -13.98% | -18.19% | -18.19% | 6.17% | 1.52% | 0.98% | 3.39% |
| Actual performance | |||||||
| Unit Value | -6.47% | -10.94% | -10.94% | 8.65% | 2.78% | 1.14% | 1.39% |
| Standardized | -13.95% | -18.06% | -18.06% | 6.34% | 1.68% | 1.14% | 1.39% |
| With optional enhanced death benefit | |||||||
| Unit Value | -6.50% | -11.07% | -11.07% | 8.48% | 2.63% | 0.98% | 1.24% |
| Standardized | -13.98% | -18.19% | -18.19% | 6.17% | 1.52% | 0.98% | 1.24% |
| Cumulative Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | -6.47% | -10.94% | -10.94% | 28.26% | 14.71% | 11.96% | 87.29% |
| Standardized | -13.95% | -18.06% | -18.06% | 20.26% | 8.71% | 11.96% | 87.29% |
| With optional enhanced death benefit | |||||||
| Unit Value | -6.50% | -11.07% | -11.07% | 27.67% | 13.83% | 10.27% | 82.22% |
| Standardized | -13.98% | -18.19% | -18.19% | 19.67% | 7.83% | 10.27% | 82.22% |
| Actual performance | |||||||
| Unit Value | -6.47% | -10.94% | -10.94% | 28.26% | 14.71% | 11.96% | 22.74% |
| Standardized | -13.95% | -18.06% | -18.06% | 20.26% | 8.71% | 11.96% | 22.74% |
| With optional enhanced death benefit | |||||||
| Unit Value | -6.50% | -11.07% | -11.07% | 27.67% | 13.83% | 10.27% | 19.99% |
| Standardized | -13.98% | -18.19% | -18.19% | 19.67% | 7.83% | 10.27% | 19.99% |
Annual Performance at NAV
| 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
|---|---|---|---|---|---|---|---|---|---|
| 12.28% | 25.20% | 5.29% | -46.89% | 24.17% | 5.41% | -15.16% | 19.75% | 20.26% | -10.94% |
| With optional enhanced death benefit | |||||||||
| 12.11% | 25.01% | 5.12% | -46.97% | 23.98% | 5.25% | -15.29% | 19.57% | 20.07% | -11.07% |
Restated performance
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With optional enhanced death benefit
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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.
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.
Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
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 10 holdings as of 01/31/15
| Royal Dutch Shell | 4.22% |
|
|---|---|---|
| Sanofi | 3.56% |
|
| Ing Groep Nv | 2.80% |
|
| Prudential | 2.08% |
|
| Astellas Pharma | 1.98% |
|
| Vodafone Group | 1.98% |
|
| Siemens Ag | 1.79% |
|
| Astrazeneca | 1.72% |
|
| Suncor Energy | 1.67% |
|
| Wpp | 1.63% |
|
| Top 10 holdings, total: | 23.43% |
|
Equity Holdings as of 12/31/14
| ROYAL DUTCH SHELL PLC-A SHS | 4.53% |
|---|---|
| SANOFI | 3.47% |
| ING GROEP NV-CVA | 2.87% |
| DEUTSCHE POST AG-REG | 1.99% |
| SUMITOMO MITSUI FINANCIAL GR | 1.96% |
| PRUDENTIAL PLC | 1.94% |
| SIEMENS AG | 1.90% |
| VODAFONE GROUP PLC | 1.90% |
| HSBC HOLDINGS PLC | 1.87% |
| ASTELLAS PHARMA INC | 1.76% |
| SUNCOR ENERGY INC | 1.75% |
| ASTRAZENECA PLC | 1.68% |
| JAPAN TOBACCO INC | 1.60% |
| DAIMLER AG-REGISTERED SHARES | 1.57% |
| BANK OF QUEENSLAND LTD | 1.54% |
| NISSAN MOTOR CO LTD | 1.54% |
| TOYOTA MOTOR CORP | 1.54% |
| HIBERNIA REIT PLC | 1.51% |
| WPP PLC | 1.51% |
| TUI AG-NEW | 1.47% |
| VINCI SA | 1.37% |
| AXA SA | 1.35% |
| TOSHIBA CORP | 1.33% |
| BAYER AG-REG | 1.30% |
| PANASONIC CORP | 1.24% |
| TOKYO GAS CO LTD | 1.23% |
| HENKEL AG & CO KGAA VORZUG | 1.18% |
| CHALLENGER LTD | 1.15% |
| MITSUBISHI CORP | 1.15% |
| CENTRICA PLC | 1.14% |
| SAMSUNG ELECTRONICS CO LTD | 1.13% |
| ACE LTD | 1.08% |
| NESTLE SA-REG | 1.06% |
| AIA GROUP LTD | 1.05% |
| DNB NOR ASA | 1.04% |
| KERRY GROUP PLC-A | 1.04% |
| ENCANA CORP | 1.03% |
| UBS GROUP AG | 1.02% |
| LIBERTY GLOBAL PLC-SERIES C | 1.00% |
| AIRBUS GROUP NV | 0.95% |
| ANHEUSER-BUSCH INBEV NV | 0.95% |
| BANK OF IRELAND | 0.93% |
| MITSUI FUDOSAN CO LTD | 0.93% |
| SPARK NEW ZEALAND LTD | 0.90% |
| GLAXOSMITHKLINE PLC | 0.89% |
| INTACT FINANCIAL CORP | 0.89% |
| JAPAN AIRLINES CO LTD | 0.85% |
| SCOR SE | 0.84% |
| UNITED OVERSEAS BANK LTD | 0.83% |
| VEOLIA ENVIRONNEMENT | 0.83% |
| SKYWORTH DIGITAL HLDGS LTD | 0.79% |
| ALCATEL-LUCENT | 0.77% |
| BAE SYSTEMS PLC | 0.77% |
| TELSTRA CORP LTD | 0.76% |
| GLENCORE PLC | 0.74% |
| VIVENDI | 0.73% |
| BHP BILLITON LIMITED | 0.72% |
| ALLIANZ SE-REG | 0.71% |
| ASALEO CARE LTD | 0.70% |
| HONGKONG LAND HOLDINGS LTD | 0.70% |
| KINGFISHER PLC | 0.69% |
| NATIXIS | 0.69% |
| LLOYDS BANKING GROUP PLC | 0.68% |
| BANCO BILBAO VIZCAYA ARGENTA | 0.67% |
| MIZUHO FINANCIAL GROUP INC | 0.67% |
| ORIGIN ENERGY LTD | 0.66% |
| SUMITOMO REALTY & DEVELOPMEN | 0.65% |
| GENEL ENERGY PLC | 0.64% |
| TELECOM ITALIA-RSP | 0.63% |
| EURAZEO | 0.62% |
| COMPAGNIE DE SAINT-GOBAIN | 0.60% |
| KONICA MINOLTA HOLDINGS INC | 0.60% |
| HITACHI LTD | 0.59% |
| TSB BANKING GROUP PLC | 0.58% |
| SEVEN & I HOLDINGS CO LTD | 0.56% |
| ITOCHU CORP | 0.53% |
| PHILIP MORRIS INTERNATIONAL | 0.53% |
| CRH PLC | 0.50% |
| ATRESMEDIA CORP DE MEDIOS DE | 0.48% |
| SUMITOMO WAREHOUSE CO LTD | 0.47% |
| SOFTBANK CORP | 0.46% |
| ALIBABA GROUP HOLDING-SP ADR | 0.43% |
| NIPPON TELEGRAPH & TELEPHONE | 0.43% |
| ERSTE GROUP BANK AG | 0.39% |
| BG GROUP PLC | 0.37% |
| COM HEM HOLDING AB | 0.37% |
| METRO BANK PLC P/P | 0.36% |
| SHOPPING CENTRES AUSTRALASIA | 0.34% |
| RECRUIT HOLDINGS CO LTD | 0.33% |
| VIRGIN MONEY HOLDINGS UK | 0.29% |
| FORTESCUE METALS GROUP LTD | 0.28% |
| ADMIRAL GROUP PLC | 0.26% |
| BARCLAYS PLC | 0.23% |
| WM MORRISON SUPERMARKETS | 0.20% |
Full Portfolio Holdings as of 12/31/14
| ROYAL DUTCH SHELL PLC-A SHS | 4.53% |
|---|---|
| SANOFI | 3.47% |
| ING GROEP NV-CVA | 2.87% |
| DEUTSCHE POST AG-REG | 1.99% |
| SUMITOMO MITSUI FINANCIAL GR | 1.96% |
| PRUDENTIAL PLC | 1.94% |
| SIEMENS AG | 1.90% |
| VODAFONE GROUP PLC | 1.90% |
| HSBC HOLDINGS PLC | 1.87% |
| ASTELLAS PHARMA INC | 1.76% |
| SUNCOR ENERGY INC | 1.75% |
| ASTRAZENECA PLC | 1.68% |
| JAPAN TOBACCO INC | 1.60% |
| DAIMLER AG-REGISTERED SHARES | 1.57% |
| BANK OF QUEENSLAND LTD | 1.54% |
| NISSAN MOTOR CO LTD | 1.54% |
| TOYOTA MOTOR CORP | 1.54% |
| HIBERNIA REIT PLC | 1.51% |
| WPP PLC | 1.51% |
| TUI AG-NEW | 1.47% |
| VINCI SA | 1.37% |
| AXA SA | 1.35% |
| TOSHIBA CORP | 1.33% |
| BAYER AG-REG | 1.30% |
| PANASONIC CORP | 1.24% |
| TOKYO GAS CO LTD | 1.23% |
| HENKEL AG & CO KGAA VORZUG | 1.18% |
| CHALLENGER LTD | 1.15% |
| MITSUBISHI CORP | 1.15% |
| CENTRICA PLC | 1.14% |
| SAMSUNG ELECTRONICS CO LTD | 1.13% |
| ACE LTD | 1.08% |
| NESTLE SA-REG | 1.06% |
| AIA GROUP LTD | 1.05% |
| DNB NOR ASA | 1.04% |
| KERRY GROUP PLC-A | 1.04% |
| ENCANA CORP | 1.03% |
| UBS GROUP AG | 1.02% |
| LIBERTY GLOBAL PLC-SERIES C | 1.00% |
| AIRBUS GROUP NV | 0.95% |
| ANHEUSER-BUSCH INBEV NV | 0.95% |
| BANK OF IRELAND | 0.93% |
| MITSUI FUDOSAN CO LTD | 0.93% |
| SPARK NEW ZEALAND LTD | 0.90% |
| GLAXOSMITHKLINE PLC | 0.89% |
| INTACT FINANCIAL CORP | 0.89% |
| JAPAN AIRLINES CO LTD | 0.85% |
| SCOR SE | 0.84% |
| UNITED OVERSEAS BANK LTD | 0.83% |
| VEOLIA ENVIRONNEMENT | 0.83% |
| SKYWORTH DIGITAL HLDGS LTD | 0.79% |
| ALCATEL-LUCENT | 0.77% |
| BAE SYSTEMS PLC | 0.77% |
| TELSTRA CORP LTD | 0.76% |
| GLENCORE PLC | 0.74% |
| VIVENDI | 0.73% |
| BHP BILLITON LIMITED | 0.72% |
| ALLIANZ SE-REG | 0.71% |
| ASALEO CARE LTD | 0.70% |
| HONGKONG LAND HOLDINGS LTD | 0.70% |
| KINGFISHER PLC | 0.69% |
| NATIXIS | 0.69% |
| LLOYDS BANKING GROUP PLC | 0.68% |
| BANCO BILBAO VIZCAYA ARGENTA | 0.67% |
| MIZUHO FINANCIAL GROUP INC | 0.67% |
| ORIGIN ENERGY LTD | 0.66% |
| SUMITOMO REALTY & DEVELOPMEN | 0.65% |
| GENEL ENERGY PLC | 0.64% |
| TELECOM ITALIA-RSP | 0.63% |
| EURAZEO | 0.62% |
| COMPAGNIE DE SAINT-GOBAIN | 0.60% |
| KONICA MINOLTA HOLDINGS INC | 0.60% |
| HITACHI LTD | 0.59% |
| TSB BANKING GROUP PLC | 0.58% |
| SEVEN & I HOLDINGS CO LTD | 0.56% |
| ITOCHU CORP | 0.53% |
| PHILIP MORRIS INTERNATIONAL | 0.53% |
| CRH PLC | 0.50% |
| ATRESMEDIA CORP DE MEDIOS DE | 0.48% |
| SUMITOMO WAREHOUSE CO LTD | 0.47% |
| SOFTBANK CORP | 0.46% |
| ALIBABA GROUP HOLDING-SP ADR | 0.43% |
| NIPPON TELEGRAPH & TELEPHONE | 0.43% |
| ERSTE GROUP BANK AG | 0.39% |
| BG GROUP PLC | 0.37% |
| COM HEM HOLDING AB | 0.37% |
| METRO BANK PLC P/P | 0.36% |
| SHOPPING CENTRES AUSTRALASIA | 0.34% |
| RECRUIT HOLDINGS CO LTD | 0.33% |
| VIRGIN MONEY HOLDINGS UK | 0.29% |
| FORTESCUE METALS GROUP LTD | 0.28% |
| ADMIRAL GROUP PLC | 0.26% |
| BARCLAYS PLC | 0.23% |
| WM MORRISON SUPERMARKETS | 0.20% |
| GBP/USD 03/18/2015 JPMCB | 0.09% |
| EUR/USD 03/18/2015 DEUTB-L | 0.07% |
| GBP/USD 03/18/2015 CITI | 0.04% |
| CHF/USD 03/18/2015 JPMCB | 0.03% |
| CHF/USD 03/18/2015 BCAP-FX | 0.02% |
| SEK/USD 03/18/2015 SSBT | 0.02% |
| AUD/USD 01/21/2015 BANKAM | 0.01% |
| EUR/USD 03/18/2015 HSBCB | 0.01% |
| EUR/USD 03/18/2015 SSBT | 0.01% |
| NOK/USD 03/18/2015 CSI-FX | 0.01% |
| SEK/USD 03/18/2015 CSI-FX | 0.01% |
| SEK/USD 03/18/2015 JPMCB | 0.01% |
| AUD/USD 01/21/2015 DEUTB-L | 0.00% |
| AUD/USD 01/21/2015 SSBT | 0.00% |
| CAD/USD 01/21/2015 CSI-FX | 0.00% |
| CANADIAN DOLLAR ACCOUNT | 0.00% |
| CHF/USD 03/18/2015 CSI-FX | 0.00% |
| DKK/USD 03/18/2015 CITI | 0.00% |
| EUR/USD 03/18/2015 BANKAM | 0.00% |
| EUR/USD 03/18/2015 CSI-FX | 0.00% |
| EUR/USD 03/18/2015 JPMCB | 0.00% |
| HKD/USD 02/13/2015 BCAP-FX | 0.00% |
| HKD/USD 02/13/2015 SSBT | 0.00% |
| ILS/USD 01/21/2015 SSBT | 0.00% |
| JPY/USD 02/13/2015 BCAP-FX | 0.00% |
| JPY/USD 02/13/2015 SSBT | 0.00% |
| SGD/USD 02/13/2015 BCAP-FX | 0.00% |
| SGD/USD 02/13/2015 JPMCB | 0.00% |
| TAIWAN DOLLAR CALL ACCOUNT | 0.00% |
| CAD/USD 01/21/2015 BCAP-FX | -0.01% |
| CAD/USD 01/21/2015 CITI | -0.01% |
| CHF/USD 03/18/2015 UBS | -0.01% |
| GBP/USD 03/18/2015 HSBCB | -0.01% |
| GBP/USD 03/18/2015 UBS | -0.01% |
| NOK/USD 03/18/2015 JPMCB | -0.01% |
| NZD/USD 01/21/2015 JPMCB | -0.01% |
| POUND STERLING CALL ACCOUNT | -0.01% |
| THE EURO EUR CALL ACCOUNT | -0.01% |
| CAD/USD 01/21/2015 HSBCB | -0.02% |
| CHF/USD 03/18/2015 SSBT | -0.02% |
| EUR/USD 03/18/2015 WPAC | -0.02% |
| GBP/USD 03/18/2015 DEUTB-L | -0.02% |
| EUR/USD 03/18/2015 CITI | -0.03% |
| EUR/USD 03/18/2015 UBS | -0.04% |
| GBP/USD 03/18/2015 CSI-FX | -0.04% |
| GBP/USD 03/18/2015 WPAC | -0.04% |
| AUSTRALIAN DOLLAR ACCOUNT | -0.28% |
Prior top 10 holdings
| Top 10 holdings as of 01/31/15 | |
|---|---|
| 1: Royal Dutch Shell | 4.22% |
| 2: Sanofi | 3.56% |
| 3: Ing Groep Nv | 2.80% |
| 4: Prudential | 2.08% |
| 5: Astellas Pharma | 1.98% |
| 6: Vodafone Group | 1.98% |
| 7: Siemens Ag | 1.79% |
| 8: Astrazeneca | 1.72% |
| 9: Suncor Energy | 1.67% |
| 10: Wpp | 1.63% |
| Holdings represent 23.43% of portfolio | |
| Top 10 holdings as of 12/31/14 | |
|---|---|
| 1: Royal Dutch Shell | 4.53% |
| 2: Sanofi | 3.47% |
| 3: Ing Groep Nv | 2.87% |
| 4: Deutsche Post Ag | 1.99% |
| 5: Sumitomo Mitsui Financial Group | 1.96% |
| 6: Prudential | 1.94% |
| 7: Siemens Ag | 1.90% |
| 8: Vodafone Group | 1.90% |
| 9: HSBC Holdings | 1.87% |
| 10: Astellas Pharma | 1.76% |
| Holdings represent 24.19% of portfolio | |
| Top 10 holdings as of 11/30/14 | |
|---|---|
| 1: Royal Dutch Shell | 4.32% |
| 2: Sanofi | 3.52% |
| 3: Ing Groep Nv | 3.10% |
| 4: Sumitomo Mitsui Financial Group | 1.95% |
| 5: Prudential | 1.94% |
| 6: Vodafone Group | 1.94% |
| 7: Deutsche Post Ag | 1.94% |
| 8: Siemens Ag | 1.90% |
| 9: HSBC Holdings | 1.88% |
| 10: Astellas Pharma | 1.74% |
| Holdings represent 24.23% of portfolio | |
| Top 10 holdings as of 10/31/14 | |
|---|---|
| 1: Royal Dutch Shell | 4.57% |
| 2: Sanofi | 3.32% |
| 3: Ing Groep Nv | 3.00% |
| 4: Sumitomo Mitsui Financial Group | 2.00% |
| 5: HSBC Holdings | 1.91% |
| 6: Suncor Energy | 1.85% |
| 7: Prudential | 1.84% |
| 8: Deutsche Post Ag | 1.81% |
| 9: Astellas Pharma | 1.81% |
| 10: Siemens Ag | 1.79% |
| Holdings represent 23.90% of portfolio | |
Portfolio Composition as of 01/31/15
| Common stock | 95.06% |
|
|---|---|---|
| Cash and net other assets | 4.94% |
|
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.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
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.Although value investing targets stocks believed to be priced too low, there is no guarantee they will appreciate.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
‡ 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.