Putnam Allstate Advisor Plus

Putnam Investors Subaccount

The subaccount seeks long-term growth of capital and any increased income that results from this growth.

Fund description

The subaccount invests in stocks of large, well-established companies. Its portfolio may include stocks of companies whose products, services, and names are recognized and respected around the world. The subaccount is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking great companies for investorsA "go-anywhere" approach: The fund is not rigidly limited to a single style. Its manager can invest in growth or value stocks, targeting those that can perform well in a variety of market conditions.Disciplined process: The fund's manager use exhaustive fundamental research to look for large U.S. companies whose stock prices do not reflect their long-range prospects.Leading research: The portfolio manager is supported by Putnam's Global Equity Research Group, whose analysts visit with hundreds of companies each year.

Management team

Daily pricing as of 05/24/18

with optional enhanced death benefits
Unit Value $14.03002 $13.645125
Unit Value Change -0.038037 -0.03705

Lipper ranking ‡ as of 04/30/18

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 16% 21/132
1 yr. 16% 28/180
3 yrs. 36% 61/172
5 yrs. 25% 40/162

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ 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 04/30/18

Fiscal Year End December
Asset Class Putnam Allstate Advisor Plus
Subaccount Status Open to new investors
Number of issues 141
Turnover (fiscal year end) 51%
Net Assets $269M
Inception Date 05/01/98

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 -1.23% -1.23% 13.54% 8.05% 11.40% 8.02% 3.18%
Standardized -9.13% -9.13% 5.54% 5.72% 10.61% 8.02% 3.18%
With optional enhanced death benefit
Unit Value -1.27% -1.27% 13.37% 7.89% 11.23% 7.85% 3.02%
Standardized -9.17% -9.17% 5.37% 5.55% 10.44% 7.85% 3.02%
Actual performance
Unit Value -1.23% -1.23% 13.54% 8.05% 11.40% 8.02% 1.55%
Standardized -9.13% -9.13% 5.54% 5.72% 10.61% 8.02% 1.55%
With optional enhanced death benefit
Unit Value -1.27% -1.27% 13.37% 7.89% 11.23% 7.85% 1.40%
Standardized -9.17% -9.17% 5.37% 5.55% 10.44% 7.85% 1.40%

Annual Performance at NAV

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-40.52% 28.73% 12.10% -1.55% 14.96% 32.96% 12.09% -3.74% 10.26% 20.90%
With optional enhanced death benefit
-40.61% 28.53% 11.93% -1.70% 14.78% 32.76% 11.92% -3.89% 10.10% 20.72%

Restated performance

Monthly as of 04/30/18

Unit Value 0.35%
Standardized -7.65%

YTD as of 05/24/18

Unit Value 2.06%
Standardized -5.94%

With optional enhanced death benefit

Monthly as of 04/30/18

Unit Value 0.34%
Standardized -7.66%

YTD as of 05/24/18

Unit Value 2.00%
Standardized -6.00%

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.

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.

The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

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.

Risk Characteristics as of 04/30/18

Alpha (%) -1.42
Beta 1.06
R Squared 0.96
Standard Deviation (3 yrs.) 10.95

Holdings

Top 10 holdings as of 04/30/18

Microsoft Corp 4.81%
Apple 4.05%
JPMorgan Chase 3.28%
Alphabet 2.74%
Bank Of America Corp 2.36%
Cisco Systems 2.09%
Amazon.Com 1.78%
Citigroup 1.70%
Boeing The 1.61%
Facebook 1.60%
Top 10 holdings, total: 26.02%

Equity Holdings as of 03/31/18

MICROSOFT CORP 4.68%
APPLE INC 4.10%
JPMORGAN CHASE & CO 3.30%
BANK OF AMERICA CORP 2.36%
CISCO SYSTEMS INC 2.02%
ALPHABET INC-CL C 1.80%
CITIGROUP INC 1.68%
GOLDMAN SACHS GROUP INC 1.65%
AMAZON.COM INC 1.64%
BOEING CO/THE 1.58%
JOHNSON & JOHNSON 1.55%
WALMART INC 1.50%
FACEBOOK INC-A 1.48%
AMGEN INC 1.28%
MORGAN STANLEY 1.22%
HOME DEPOT INC 1.21%
COMCAST CORP-CLASS A 1.20%
CATERPILLAR INC 1.15%
ROYAL DUTCH SHELL-SPON ADR-A 1.14%
INTEL CORP 1.11%
AT&T INC 1.10%
BECTON DICKINSON AND CO 1.07%
PFIZER INC 1.04%
LAM RESEARCH CORP 0.99%
ALPHABET INC-CL A 0.98%
CONOCOPHILLIPS 0.98%
APPLIED MATERIALS INC 0.96%
PEPSICO INC 0.96%
WALT DISNEY CO/THE 0.92%
VISA INC-CLASS A SHARES 0.91%
BAXTER INTERNATIONAL INC 0.86%
MASTERCARD INC - A 0.83%
DOWDUPONT INC 0.81%
GILEAD SCIENCES INC 0.81%
ORACLE CORP 0.79%
CAPITAL ONE FINANCIAL CORP 0.78%
UNITED RENTALS INC 0.76%
LOWES COMPANIES INC 0.75%
TEXAS INSTRUMENTS INC 0.75%
ABBVIE INC 0.74%
PULTEGROUP INC 0.73%
AMERIPRISE FINANCIAL INC 0.72%
BEST BUY CO INC 0.72%
FREEPORT-MCMORAN INC 0.72%
SOUTHWEST AIRLINES CO 0.72%
CF INDUSTRIES HOLDINGS INC 0.70%
BIOGEN INC 0.67%
ANTHEM INC 0.66%
INTL BUSINESS MACHINES CORP 0.66%
LEAR CORP 0.66%
BERKSHIRE HATHAWAY INC-CL B 0.65%
HUMANA INC 0.65%
STATE STREET CORP 0.65%
EMERSON ELECTRIC CO 0.64%
EXXON MOBIL CORP 0.64%
TOTAL SA-SPON ADR 0.64%
WYNDHAM WORLDWIDE CORP 0.64%
DXC TECHNOLOGY CO 0.63%
FEDEX CORP 0.63%
HCA HEALTHCARE INC 0.63%
VALERO ENERGY CORP 0.63%
TARGET CORP 0.62%
NORFOLK SOUTHERN CORP 0.60%
HP INC 0.59%
LAS VEGAS SANDS CORP 0.59%
MCKESSON CORP 0.59%
DEERE & CO 0.58%
EXELON CORP 0.58%
NRG ENERGY INC 0.58%
ENTERGY CORP 0.57%
LINCOLN NATIONAL CORP 0.57%
CVS HEALTH CORP 0.56%
WASTE MANAGEMENT INC 0.56%
EASTERLY GOVERNMENT PROPERTI 0.55%
GENERAL MOTORS CO 0.55%
JAZZ PHARMACEUTICALS PLC 0.54%
LIVE NATION ENTERTAINMENT IN 0.54%
SUNTRUST BANKS INC 0.54%
KROGER CO 0.53%
COSTCO WHOLESALE CORP 0.52%
ENTERPRISE PRODUCTS PARTNERS 0.51%
ARCHER-DANIELS-MIDLAND CO 0.50%
ALCOA CORP 0.49%
WALGREENS BOOTS ALLIANCE INC 0.48%
ADOBE SYSTEMS INC 0.47%
CIGNA CORP 0.47%
FGL HLDGS ORD SHS RESTRICTED 0.47%
HANESBRANDS INC 0.47%
KKR & CO LP 0.47%
CBRE GROUP INC - A 0.46%
DELIVERY HERO AG 0.46%
PIRELLI & C SPA 0.46%
SUNCOR ENERGY INC 0.46%
VERIZON COMMUNICATIONS INC 0.46%
PROCTER & GAMBLE CO/THE 0.45%
MANPOWERGROUP INC 0.44%
ASSURED GUARANTY LTD 0.43%
FIRSTENERGY CORP 0.43%
MCCORMICK & CO-NON VTG SHRS 0.43%
ARMADA HOFFLER PROPERTIES IN 0.41%
AMERICAN INTERNATIONAL GROUP 0.40%
DELL TECHNOLOGIES INC-CL V 0.40%
MARATHON OIL CORP 0.40%
BOARDWALK PIPELINE PARTNERS 0.39%
GAP INC/THE 0.36%
TPG PACE HOLDINGS CORP 0.36%
CHILDREN'S PLACE INC/THE 0.35%
PENN NATIONAL GAMING INC 0.35%
EBAY INC 0.33%
COCA-COLA CO/THE 0.32%
GENERAL DYNAMICS CORP 0.32%
INVESCO LTD 0.32%
KIMBERLY-CLARK CORP 0.31%
BANK OF NEW YORK MELLON CORP 0.29%
EASTERLY ACQUISITION CORP 0.29%
KRAFT HEINZ CO/THE 0.28%
J2 ACQUISITION LTD 0.27%
MOLSON COORS BREWING CO -B 0.27%
ENCANA CORP 0.26%
FEDERAL STREET ACQUISITION 0.26%
HYATT HOTELS CORP - CL A 0.26%
KENNEDY-WILSON HOLDINGS INC 0.26%
OWENS CORNING 0.26%
AMERICAN TOWER CORP 0.25%
DELTA AIR LINES INC 0.25%
PLAYA HOTELS & RESORTS NV 0.25%
LYONDELLBASELL INDU-CL A 0.22%
PLAINS GP HOLDINGS LP-CL A 0.21%
ALIGNVEST ACQUISITION II C-A 0.20%
BECTON DICKINSON AND CO 06.1250 CV PFD 0.19%
KIMBELL ROYALTY PARTNERS LP 0.19%
PRUDENTIAL FINANCIAL INC 0.19%
CAPITOL INVESTMENT CORP IV 0.16%
HAYMAKER ACQUISITION CORP 0.15%
GORES HOLDINGS II INC 0.13%
WYNN RESORTS LTD 0.10%
SELECT ENERGY SVCS-A-1 0.06%
GLOBAL FASHION GRP P/P 0.02%
ALIGNVEST ACQUISITION - CW 0.01%
CISION LTD - CW22 0.01%
EASTERLY ACQ CORP - CW20 0.01%
J2 ACQUISITION LTD-CW20 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%

Full Portfolio Holdings as of 03/31/18

MICROSOFT CORP 4.68%
APPLE INC 4.10%
JPMORGAN CHASE & CO 3.30%
BANK OF AMERICA CORP 2.36%
CISCO SYSTEMS INC 2.02%
ALPHABET INC-CL C 1.80%
CITIGROUP INC 1.68%
GOLDMAN SACHS GROUP INC 1.65%
AMAZON.COM INC 1.64%
BOEING CO/THE 1.58%
JOHNSON & JOHNSON 1.55%
WALMART INC 1.50%
FACEBOOK INC-A 1.48%
AMGEN INC 1.28%
MORGAN STANLEY 1.22%
HOME DEPOT INC 1.21%
COMCAST CORP-CLASS A 1.20%
CATERPILLAR INC 1.15%
ROYAL DUTCH SHELL-SPON ADR-A 1.14%
INTEL CORP 1.11%
AT&T INC 1.10%
BECTON DICKINSON AND CO 1.07%
PFIZER INC 1.04%
LAM RESEARCH CORP 0.99%
ALPHABET INC-CL A 0.98%
CONOCOPHILLIPS 0.98%
APPLIED MATERIALS INC 0.96%
PEPSICO INC 0.96%
WALT DISNEY CO/THE 0.92%
VISA INC-CLASS A SHARES 0.91%
BAXTER INTERNATIONAL INC 0.86%
MASTERCARD INC - A 0.83%
DOWDUPONT INC 0.81%
GILEAD SCIENCES INC 0.81%
ORACLE CORP 0.79%
CAPITAL ONE FINANCIAL CORP 0.78%
UNITED RENTALS INC 0.76%
LOWES COMPANIES INC 0.75%
TEXAS INSTRUMENTS INC 0.75%
ABBVIE INC 0.74%
PULTEGROUP INC 0.73%
AMERIPRISE FINANCIAL INC 0.72%
BEST BUY CO INC 0.72%
FREEPORT-MCMORAN INC 0.72%
SOUTHWEST AIRLINES CO 0.72%
CF INDUSTRIES HOLDINGS INC 0.70%
BIOGEN INC 0.67%
ANTHEM INC 0.66%
INTL BUSINESS MACHINES CORP 0.66%
LEAR CORP 0.66%
BERKSHIRE HATHAWAY INC-CL B 0.65%
HUMANA INC 0.65%
STATE STREET CORP 0.65%
EMERSON ELECTRIC CO 0.64%
EXXON MOBIL CORP 0.64%
TOTAL SA-SPON ADR 0.64%
WYNDHAM WORLDWIDE CORP 0.64%
DXC TECHNOLOGY CO 0.63%
FEDEX CORP 0.63%
HCA HEALTHCARE INC 0.63%
VALERO ENERGY CORP 0.63%
TARGET CORP 0.62%
NORFOLK SOUTHERN CORP 0.60%
HP INC 0.59%
LAS VEGAS SANDS CORP 0.59%
MCKESSON CORP 0.59%
DEERE & CO 0.58%
EXELON CORP 0.58%
NRG ENERGY INC 0.58%
ENTERGY CORP 0.57%
LINCOLN NATIONAL CORP 0.57%
CVS HEALTH CORP 0.56%
WASTE MANAGEMENT INC 0.56%
EASTERLY GOVERNMENT PROPERTI 0.55%
GENERAL MOTORS CO 0.55%
JAZZ PHARMACEUTICALS PLC 0.54%
LIVE NATION ENTERTAINMENT IN 0.54%
SUNTRUST BANKS INC 0.54%
KROGER CO 0.53%
COSTCO WHOLESALE CORP 0.52%
ENTERPRISE PRODUCTS PARTNERS 0.51%
ARCHER-DANIELS-MIDLAND CO 0.50%
ALCOA CORP 0.49%
WALGREENS BOOTS ALLIANCE INC 0.48%
ADOBE SYSTEMS INC 0.47%
CIGNA CORP 0.47%
FGL HLDGS ORD SHS RESTRICTED 0.47%
HANESBRANDS INC 0.47%
KKR & CO LP 0.47%
CBRE GROUP INC - A 0.46%
DELIVERY HERO AG 0.46%
PIRELLI & C SPA 0.46%
SUNCOR ENERGY INC 0.46%
VERIZON COMMUNICATIONS INC 0.46%
PROCTER & GAMBLE CO/THE 0.45%
MANPOWERGROUP INC 0.44%
ASSURED GUARANTY LTD 0.43%
FIRSTENERGY CORP 0.43%
MCCORMICK & CO-NON VTG SHRS 0.43%
ARMADA HOFFLER PROPERTIES IN 0.41%
AMERICAN INTERNATIONAL GROUP 0.40%
DELL TECHNOLOGIES INC-CL V 0.40%
MARATHON OIL CORP 0.40%
BOARDWALK PIPELINE PARTNERS 0.39%
GAP INC/THE 0.36%
TPG PACE HOLDINGS CORP 0.36%
CHILDREN'S PLACE INC/THE 0.35%
PENN NATIONAL GAMING INC 0.35%
EBAY INC 0.33%
COCA-COLA CO/THE 0.32%
GENERAL DYNAMICS CORP 0.32%
INVESCO LTD 0.32%
KIMBERLY-CLARK CORP 0.31%
BANK OF NEW YORK MELLON CORP 0.29%
EASTERLY ACQUISITION CORP 0.29%
KRAFT HEINZ CO/THE 0.28%
J2 ACQUISITION LTD 0.27%
MOLSON COORS BREWING CO -B 0.27%
ENCANA CORP 0.26%
FEDERAL STREET ACQUISITION 0.26%
HYATT HOTELS CORP - CL A 0.26%
KENNEDY-WILSON HOLDINGS INC 0.26%
OWENS CORNING 0.26%
AMERICAN TOWER CORP 0.25%
DELTA AIR LINES INC 0.25%
PLAYA HOTELS & RESORTS NV 0.25%
LYONDELLBASELL INDU-CL A 0.22%
PLAINS GP HOLDINGS LP-CL A 0.21%
ALIGNVEST ACQUISITION II C-A 0.20%
BECTON DICKINSON AND CO 06.1250 CV PFD 0.19%
KIMBELL ROYALTY PARTNERS LP 0.19%
PRUDENTIAL FINANCIAL INC 0.19%
CAPITOL INVESTMENT CORP IV 0.16%
HAYMAKER ACQUISITION CORP 0.15%
GORES HOLDINGS II INC 0.13%
WYNN RESORTS LTD 0.10%
SELECT ENERGY SVCS-A-1 0.06%
GLOBAL FASHION GRP P/P 0.02%
ALIGNVEST ACQUISITION - CW 0.01%
CISION LTD - CW22 0.01%
EASTERLY ACQ CORP - CW20 0.01%
J2 ACQUISITION LTD-CW20 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%
POUND STERLING CALL ACCOUNT 0.00%
THE EURO EUR CALL ACCOUNT 0.00%

Prior top 10 holdings

Top 10 holdings as of 04/30/18
1: Microsoft Corp 4.81%
2: Apple 4.05%
3: JPMorgan Chase 3.28%
4: Alphabet 2.74%
5: Bank Of America Corp 2.36%
6: Cisco Systems 2.09%
7: Amazon.Com 1.78%
8: Citigroup 1.70%
9: Boeing The 1.61%
10: Facebook 1.60%
Holdings represent 26.02% of portfolio
Top 10 holdings as of 03/31/18
1: Microsoft Corp 4.68%
2: Apple 4.10%
3: JPMorgan Chase 3.30%
4: Alphabet 2.78%
5: Bank Of America Corp 2.36%
6: Cisco Systems 2.02%
7: Citigroup 1.68%
8: Goldman Sachs Group The 1.65%
9: Amazon.Com 1.64%
10: Boeing The 1.58%
Holdings represent 25.79% of portfolio
Top 10 holdings as of 02/28/18
1: Microsoft Corp 4.63%
2: Apple 4.19%
3: JPMorgan Chase 3.34%
4: Alphabet 2.86%
5: Bank Of America Corp 2.43%
6: Cisco Systems 2.03%
7: Citigroup 1.80%
8: Amazon.Com 1.65%
9: Goldman Sachs Group The 1.65%
10: Boeing The 1.63%
Holdings represent 26.21% of portfolio
Top 10 holdings as of 01/31/18
1: Microsoft Corp 4.49%
2: Apple 3.77%
3: JPMorgan Chase 3.20%
4: Alphabet 2.92%
5: Bank Of America Corp 2.34%
6: Cisco Systems 1.82%
7: Citigroup 1.81%
8: Walmart 1.66%
9: Goldman Sachs Group The 1.65%
10: Facebook 1.55%
Holdings represent 25.21% of portfolio

Portfolio Composition as of 04/30/18

Common stock 99.34%
Cash and net other assets 0.46%
Convertible preferred stock 0.20%

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.

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

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 Industry Sectors as of 04/30/18

Information technology 24.98%
Financials 18.07%
Consumer discretionary 13.57%
Health care 12.76%
Industrials 7.98%
Energy 7.34%
Consumer staples 6.33%
Materials 2.87%
Utilities 2.22%
 
Other
3.88%
Real estate 1.93%
Telecommunication services 1.49%
Cash and net other assets 0.46%

Expenses

Sales Charges/Fees

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

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.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ 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 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%