Putnam Advisor Plus

Putnam International Value Subaccount

The subaccount seeks capital growth. Current income is a secondary objective.

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

Daily pricing as of 09/22/23

with optional enhanced death benefits
Unit Value $16.501118 $15.920414
Unit Value Change -0.060359 -0.058301

Lipper ranking ‡ as of 08/31/23

Category: International Large-Cp Val Fds

  Percentile ranking Rank/Funds in category
10 yrs. 36% 5/13
1 yr. 47% 7/14
3 yrs. 34% 5/14
5 yrs. 34% 5/14

‡ 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 08/31/23

Fiscal Year End December
Asset Class Putnam Advisor Plus
Subaccount Status Open to new investors
Number of issues 68
Turnover (fiscal year end) 11%
Net Assets $104M
Inception Date 01/02/97


Performance as of 06/30/23

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
Restated performance
Unit Value 4.27% 11.62% 20.81% 12.19% 3.59% 3.41% 3.52%
Standardized -3.73% 3.62% 12.81% 10.03% 2.53% 3.41% 3.52%
With optional enhanced death benefit
Unit Value 4.24% 11.54% 20.63% 12.02% 3.44% 3.25% 3.37%
Standardized -3.76% 3.54% 12.63% 9.85% 2.37% 3.25% 3.37%
Actual performance
Unit Value 4.27% 11.62% 20.81% 12.19% 3.59% 3.41% 2.15%
Standardized -3.73% 3.62% 12.81% 10.03% 2.53% 3.41% 2.15%
With optional enhanced death benefit
Unit Value 4.24% 11.54% 20.63% 12.02% 3.44% 3.25% 1.99%
Standardized -3.76% 3.54% 12.63% 9.85% 2.37% 3.25% 1.99%

Annual Performance at NAV

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
20.26% -10.94% -3.57% -0.51% 22.71% -18.94% 18.30% 2.28% 13.10% -8.30%
With optional enhanced death benefit
20.07% -11.07% -3.72% -0.66% 22.52% -19.06% 18.12% 2.12% 12.93% -8.43%

Restated performance

Monthly as of 08/31/23

Unit Value -3.42%
Standardized -11.15%

YTD as of 09/22/23

Unit Value 10.41%
Standardized 2.41%

With optional enhanced death benefit

Monthly as of 08/31/23

Unit Value -3.43%
Standardized -11.16%

YTD as of 09/22/23

Unit Value 10.29%
Standardized 2.29%

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 Everlake variable annuities are flexible-premium deferred variable annuities issued by Everlake Life Insurance Company (Everlake Life); underwritten by Everlake 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 Everlake 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 Everlake at 1-800-390-1277.

Risk Characteristics as of 08/31/23

Alpha (%) 1.63
Beta 1.06
R Squared 0.98
Standard Deviation (3 yrs.) 20.27


Sanofi 3.67%
Ing Groep Nv 3.49%
Ubs Group Ag 2.91%
Shell 2.76%
Sumitomo Mitsui Financial Group 2.76%
Mitsubishi Corp 2.71%
HSBC Holdings 2.64%
Siemens Ag 2.33%
Vinci 2.28%
Aib Group 2.21%
Top 10 holdings, total: 27.76%

Top 10 holdings as of 08/31/23
1: Sanofi 3.67%
2: Ing Groep Nv 3.49%
3: Ubs Group Ag 2.91%
4: Shell 2.76%
5: Sumitomo Mitsui Financial Group 2.76%
6: Mitsubishi Corp 2.71%
7: HSBC Holdings 2.64%
8: Siemens Ag 2.33%
9: Vinci 2.28%
10: Aib Group 2.21%
Holdings represent 27.76% of portfolio
Top 10 holdings as of 07/31/23
1: Sanofi 3.59%
2: Ing Groep Nv 3.52%
3: HSBC Holdings 2.90%
4: Sumitomo Mitsui Financial Group 2.77%
5: Mitsubishi Corp 2.75%
6: Shell 2.68%
7: Siemens Ag 2.58%
8: Ubs Group Ag 2.37%
9: Vinci 2.35%
10: Aib Group 2.23%
Holdings represent 27.74% of portfolio
Top 10 holdings as of 06/30/23
1: Mitsubishi Corp 3.77%
2: Sanofi 3.76%
3: Ing Groep Nv 3.38%
4: Vinci 2.98%
5: HSBC Holdings 2.88%
6: Shell 2.74%
7: Siemens Ag 2.62%
8: Sumitomo Mitsui Financial Group 2.62%
9: UBS 2.25%
10: Nippon Telegraph Telephone Corp 2.20%
Holdings represent 29.20% of portfolio
Top 10 holdings as of 05/31/23
1: Sanofi 3.58%
2: Mitsubishi Corp 3.21%
3: Ing Groep Nv 3.18%
4: Vinci 3.02%
5: HSBC Holdings 2.76%
6: Siemens Ag 2.66%
7: Shell 2.63%
8: Sumitomo Mitsui Financial Group 2.54%
9: Nippon Telegraph Telephone Corp 2.18%
10: Ubs Group Ag 2.14%
Holdings represent 27.92% of portfolio

Portfolio Composition as of 08/31/23

Common stock 95.86%
Cash and net other assets 4.14%

Consider these risks before investing: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Because the fund currently invests, and may in the future invest, significantly in European companies, the fund is particularly susceptible to economic, political, regulatory, or other events or conditions affecting issuers in Europe. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Value stocks may fail to rebound, and the market may not favor value-style investing. 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. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions, and the potential failure of the other party to the instrument to meet its obligations. 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.

Sector weightings as of 08/31/23

Financials 31.77%
Industrials 17.27%
Energy 8.29%
Consumer staples 7.90%
Consumer discretionary 7.35%
Health care 6.58%
Communication services 5.47%
Materials 5.01%
Cash and net other assets 4.14%
Utilities 3.65%
Information technology 1.55%
Real estate 1.01%

Country Allocation as of 08/31/23

United Kingdom 22.69%
Japan 22.28%
France 15.40%
Germany 6.83%
Australia 6.55%
Ireland 5.03%
Netherlands 4.91%
Cash and net other assets 4.14%
Switzerland 4.04%
Canada 2.97%
Spain 2.56%
Singapore 1.28%
Norway 0.92%
Finland 0.40%


Sales Charges/Fees

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


Year Percent
1 8.00%
2 8.00%
3 8.00%
4 7.00%
5 6.00%
6 5.00%
7 4.00%
8 3.00%
9+ 0.00%