Putnam Allstate Advisor Plus
Putnam Small Cap Value Subaccount
The subaccount seeks capital appreciation.
Fund Description
The subaccount pursues its objective of long-term capital appreciation by investing in stocks of small companies that are undergoing positive changes. In accordance with its value strategy, it seeks holdings that have below-average price/earnings ratios and that are priced below their long-term business value. The subaccount's focus on low valuation helps to manage the risk associated with investing in small companies.
Sales Story
Pursuing capital appreciation through undervalued small companiesSmall companies: Often overlooked by Wall Street analysts, the stocks of small companies can represent attractive opportunities to firms with strong research capabilities.A value strategy: The fund focuses on finding small companies whose stocks are priced below their long-term potential, and where there may be a catalyst for positive change.A rigorous process: The fund's experienced manager uses fundamental investment research to find stocks that are currently overlooked and undervalued in the current market.
Daily Pricing as of 03/11/14
| with optional enhanced death benefits | ||
|---|---|---|
| Unit Value | $30.828643 | $30.174998 |
| Unit Value Change | -0.293326 | -0.287235 |
‡ Lipper Ranking as of 01/31/14
Category: Small-Cap Value-PCM
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 93% | 26/27 |
| 1 yr. | 20% | 10/51 |
| 3 yrs. | 23% | 11/49 |
| 5 yrs. | 23% | 11/47 |
Quick Facts as of 02/28/14
| Fiscal Year End | December |
|---|---|
| Asset Class | Putnam Allstate Advisor Plus |
| Subaccount Status | Open to new investors |
| Number of Issues | 195 |
| Turnover (fiscal year end) | 59% |
| Net Assets | $213M |
| Inception Date | 04/30/99 |
The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 12/31/13
| Annualized Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | 8.44% | 37.38% | 37.38% | 14.19% | 19.03% | 6.33% | 8.26% |
| Standardized | 0.44% | 29.38% | 29.38% | 12.10% | 18.42% | 6.33% | 8.26% |
| With optional enhanced death benefit | |||||||
| Unit Value | 8.40% | 37.17% | 37.17% | 14.01% | 18.84% | 6.17% | 8.09% |
| Standardized | 0.40% | 29.17% | 29.17% | 11.92% | 18.24% | 6.17% | 8.09% |
| Actual performance | |||||||
| Unit Value | 8.44% | 37.38% | 37.38% | 14.19% | 19.03% | 6.33% | 8.32% |
| Standardized | 0.44% | 29.38% | 29.38% | 12.10% | 18.42% | 6.33% | 8.32% |
| With optional enhanced death benefit | |||||||
| Unit Value | 8.40% | 37.17% | 37.17% | 14.01% | 18.84% | 6.17% | 8.16% |
| Standardized | 0.40% | 29.17% | 29.17% | 11.92% | 18.24% | 6.17% | 8.16% |
| Cumulative Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | 8.44% | 37.38% | 37.38% | 48.89% | 138.89% | 84.81% | 220.19% |
| Standardized | 0.44% | 29.38% | 29.38% | 40.89% | 132.89% | 84.81% | 220.19% |
| With optional enhanced death benefit | |||||||
| Unit Value | 8.40% | 37.17% | 37.17% | 48.21% | 137.08% | 82.02% | 213.11% |
| Standardized | 0.40% | 29.17% | 29.17% | 40.21% | 131.08% | 82.02% | 213.11% |
| Actual performance | |||||||
| Unit Value | 8.44% | 37.38% | 37.38% | 48.89% | 138.89% | 84.81% | 202.10% |
| Standardized | 0.44% | 29.38% | 29.38% | 40.89% | 132.89% | 84.81% | 202.10% |
| With optional enhanced death benefit | |||||||
| Unit Value | 8.40% | 37.17% | 37.17% | 48.21% | 137.08% | 82.02% | 195.79% |
| Standardized | 0.40% | 29.17% | 29.17% | 40.21% | 131.08% | 82.02% | 195.79% |
Annual Performance at NAV
| 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
|---|---|---|---|---|---|---|---|---|---|
| 24.20% | 5.32% | 15.42% | -14.12% | -40.33% | 29.43% | 23.97% | -6.25% | 15.60% | 37.38% |
| With optional enhanced death benefit | |||||||||
| 24.01% | 5.16% | 15.25% | -14.26% | -40.42% | 29.23% | 23.78% | -6.39% | 15.43% | 37.17% |
Restated performance
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With optional enhanced death benefit
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Risk Characteristics as of 01/31/14
| Alpha (%) | 1.84 |
|---|---|
| Beta | 0.98 |
| R Squared | 0.98 |
| Standard Deviation (3 yrs.) | 15.94 |
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.
The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 01/31/14
| Validus Holdings | 1.04% |
|
|---|---|---|
| Pnm Resources | 1.01% |
|
| Istar Financial | 0.97% |
|
| Allied World Assurance Holdings Ag | 0.95% |
|
| Constellium Nv | 0.93% |
|
| Partnerre Holdings | 0.92% |
|
| Logitech International | 0.92% |
|
| Quality Distribution | 0.92% |
|
| Pitney Bowes | 0.89% |
|
| Southwest Gas Corp | 0.87% |
|
| Top 10 holdings, total: | 9.42% |
|
Equity Holdings as of 12/31/13
| VALIDUS HOLDINGS LTD | 1.10% |
|---|---|
| ALLIED WORLD ASSURANCE CO | 0.99% |
| PARTNERRE LTD | 0.94% |
| PNM RESOURCES INC | 0.93% |
| ISTAR FINANCIAL INC | 0.85% |
| SOUTHWEST GAS CORP | 0.85% |
| QUALITY DISTRIBUTION INC | 0.81% |
| CONSTELLIUM NV- CLASS A | 0.79% |
| PITNEY BOWES INC | 0.77% |
| FIRST MERCHANTS CORP | 0.76% |
| MATRIX SERVICE CO | 0.76% |
| AMERICAN CAPITAL LTD | 0.75% |
| INVESTORS BANCORP INC | 0.75% |
| LOGITECH INTERNATIONAL-REG | 0.75% |
| STANCORP FINANCIAL GROUP | 0.75% |
| SUMMIT HOTEL PROPERTIES INC | 0.74% |
| UNISYS CORP | 0.74% |
| TCP CAPITAL CORP | 0.73% |
| PACIFIC PREMIER BANCORP INC | 0.72% |
| ENERGEN CORP | 0.71% |
| OFG BANCORP | 0.71% |
| FINANCIAL INSTITUTIONS INC | 0.70% |
| KODIAK OIL & GAS CORP | 0.70% |
| STERLING BANCORP/DE | 0.70% |
| GLOBE SPECIALTY METALS INC | 0.69% |
| HUNTINGTON INGALLS INDUSTRIE | 0.68% |
| WEB.COM GROUP INC | 0.68% |
| AMERIS BANCORP | 0.67% |
| ENCORE CAPITAL GROUP INC | 0.67% |
| GT ADVANCED TECHNOLOGIES INC | 0.67% |
| SKECHERS USA INC-CL A | 0.67% |
| FIRST NBC BANK HOLDING CO | 0.66% |
| OM GROUP INC | 0.65% |
| SPARTAN STORES INC | 0.65% |
| MARRIOTT VACATIONS WORLD | 0.64% |
| MENTOR GRAPHICS CORP | 0.64% |
| RE/MAX HOLDINGS INC-CL A | 0.64% |
| RF MICRO DEVICES INC | 0.63% |
| BANCORP INC/THE | 0.62% |
| HANOVER INSURANCE GROUP INC/ | 0.62% |
| HORSEHEAD HOLDING CORP | 0.62% |
| PERFICIENT INC | 0.62% |
| SOLAR CAPITAL LTD | 0.62% |
| AMERICAN FINANCIAL GROUP INC | 0.61% |
| PERFORMANT FINANCIAL CORP | 0.61% |
| POPULAR INC | 0.61% |
| RAIT FINANCIAL TRUST | 0.61% |
| REINSURANCE GROUP OF AMERICA | 0.61% |
| ROCKVILLE FINANCIAL INC | 0.61% |
| RUSH ENTERPRISES INC-CL A | 0.61% |
| VOXX INTERNATIONAL CORP | 0.61% |
| GLOBAL CASH ACCESS HOLDINGS | 0.60% |
| IDACORP INC | 0.60% |
| INTEGRATED SILICON SOLUTION | 0.60% |
| KFORCE INC | 0.60% |
| STOCK BUILDING SUPPLY HOLDIN | 0.60% |
| LAKELAND FINANCIAL CORP | 0.59% |
| SYMMETRY MEDICAL INC | 0.59% |
| TIDEWATER INC | 0.59% |
| CABOT CORP | 0.58% |
| CHEMICAL FINANCIAL CORP | 0.58% |
| COWEN GROUP INC-CLASS A | 0.57% |
| DELUXE CORP | 0.57% |
| GOODYEAR TIRE & RUBBER CO | 0.57% |
| HD SUPPLY HOLDINGS INC | 0.57% |
| SCORPIO TANKERS INC | 0.57% |
| TOWER INTERNATIONAL INC | 0.57% |
| LSB INDUSTRIES INC | 0.56% |
| PARK-OHIO HOLDINGS CORP | 0.56% |
| SILICON IMAGE INC | 0.56% |
| PORTLAND GENERAL ELECTRIC CO | 0.55% |
| SM ENERGY CO | 0.55% |
| AVG TECHNOLOGIES | 0.54% |
| HEARTLAND FINANCIAL USA INC | 0.54% |
| KRATON PERFORMANCE POLYMERS | 0.54% |
| MAGNACHIP SEMICONDUCT | 0.54% |
| MAIDEN HOLDINGS LTD | 0.54% |
| STONERIDGE INC | 0.54% |
| TTM TECHNOLOGIES | 0.54% |
| ACTUATE CORP | 0.53% |
| COLONY FINANCIAL INC | 0.53% |
| CVB FINANCIAL CORP | 0.53% |
| MRC GLOBAL INC | 0.53% |
| ORION MARINE GROUP INC | 0.53% |
| QUESTCOR PHARMACEUTICALS | 0.53% |
| RPM INTERNATIONAL INC | 0.53% |
| RYDER SYSTEM INC | 0.53% |
| ASCENA RETAIL GROUP INC | 0.52% |
| GULFPORT ENERGY CORP | 0.52% |
| MDC PARTNERS INC-A | 0.52% |
| HILLENBRAND INC | 0.51% |
| PORTFOLIO RECOVERY ASSOCIATE | 0.51% |
| AEGEAN MARINE PETROLEUM NETW | 0.50% |
| GAMING AND LEISURE PROPERTIE | 0.50% |
| NATIONAL BANK HOLD-CL A | 0.50% |
| OPLINK COMMUNICATIONS INC | 0.50% |
| PHOTRONICS INC | 0.50% |
| UNITED FINANCIAL BANCORP INC | 0.50% |
| BILL BARRETT CORP | 0.49% |
| EMCORE CORP | 0.49% |
| EVERBANK FINANCIAL CORP | 0.49% |
| AVISTA CORP | 0.48% |
| EMPLOYERS HOLDINGS INC | 0.48% |
| FORMFACTOR INC | 0.48% |
| MEDLEY CAPITAL CORP | 0.48% |
| META FINANCIAL GROUP INC | 0.48% |
| MINERALS TECHNOLOGIES INC | 0.48% |
| TRIPLE-S MANAGEMENT CORP-B | 0.48% |
| EMCOR GROUP INC | 0.47% |
| FIRST NIAGARA FINANCIAL GRP | 0.47% |
| OMNOVA SOLUTIONS INC | 0.47% |
| CORE-MARK HOLDING CO INC | 0.46% |
| EPR PROPERTIES | 0.46% |
| HORIZON TECHNOLOGY FINANCE C | 0.46% |
| MIDSTATES PETROLEUM CO INC | 0.46% |
| STATE BANK FINANCIAL CORP | 0.46% |
| TRIMAS CORP | 0.46% |
| CAESARSTONE SDOT-YAM LTD | 0.45% |
| DANA HOLDING CORP | 0.45% |
| PHOTOMEDEX INC | 0.45% |
| TWO HARBORS INVESTMENT CORP | 0.45% |
| WESTERN ALLIANCE BANCORP | 0.45% |
| CHEMTURA CORP | 0.44% |
| CONVERGYS CORP | 0.44% |
| NEWELL RUBBERMAID INC | 0.44% |
| SILVERCREST ASSET MANAGEME-A | 0.44% |
| WABASH NATIONAL CORP | 0.44% |
| AMERICAN ASSETS TRUST INC | 0.43% |
| CHERRY HILL MORTGAGE INVESTM | 0.43% |
| UIL HOLDINGS CORP | 0.43% |
| CST BRANDS INC | 0.42% |
| EAGLE BANCORP INC | 0.42% |
| ENNIS INC | 0.42% |
| CENTENE CORP | 0.41% |
| DATALINK CORP | 0.41% |
| NAVISTAR INTERNATIONAL CORP | 0.41% |
| BERRY PLASTICS GROUP INC | 0.40% |
| COLEMAN CABLE INC | 0.40% |
| MFA FINANCIAL INC | 0.40% |
| ENSIGN GROUP INC/THE | 0.39% |
| EPL OIL & GAS INC | 0.39% |
| KAR AUCTION SERVICES INC | 0.39% |
| HERCULES TECH GROWTH | 0.38% |
| PHH CORP | 0.38% |
| POLYCOM INC | 0.38% |
| ROCK TENN COMPANY -CL A | 0.37% |
| COGENT COMMUNICATIONS GROUP | 0.36% |
| PEP BOYS-MANNY MOE & JACK | 0.36% |
| STONE ENERGY CORP | 0.36% |
| PERICOM SEMICONDUCTOR CORP | 0.35% |
| PROVIDENCE SERVICE CORP | 0.35% |
| TIVO INC | 0.35% |
| GREIF INC -CL A | 0.34% |
| KEY ENERGY SERVICES INC | 0.34% |
| PIONEER ENERGY SERVICES CORP | 0.34% |
| CAMPUS CREST COMMUNITIES INC | 0.33% |
| EXPRESS INC | 0.33% |
| NEWPORT CORP | 0.33% |
| DYNAMIC MATERIALS CORP | 0.32% |
| EDUCATION REALTY TRUST INC | 0.32% |
| FLUSHING FINANCIAL CORP | 0.32% |
| REXNORD CORP | 0.32% |
| SANDERSON FARMS INC | 0.32% |
| CUTERA INC | 0.31% |
| ONE LIBERTY PROPERTIES INC | 0.31% |
| UNS ENERGY CORP | 0.31% |
| HOWARD HUGHES CORP/THE | 0.30% |
| PIEDMONT OFFICE REALTY TRU-A | 0.30% |
| SELECT COMFORT CORPORATION | 0.30% |
| BANC OF CALIFORNIA INC | 0.29% |
| HEALTHCARE TRUST OF AME-CL A | 0.29% |
| QTS REALTY TRUST INC-CL A | 0.28% |
| EXCO RESOURCES INC | 0.27% |
| WET SEAL INC/THE-CLASS A | 0.27% |
| ADVANCED EMISSIONS SOLUTIONS | 0.26% |
| AMBARELLA INC | 0.24% |
| FIRST OF LONG ISLAND CORP | 0.24% |
| UCP INC - CL A | 0.24% |
| FIRST CONNECTICUT BANCORP | 0.23% |
| FORESTAR GROUP INC | 0.23% |
| INDEPENDENT BANK GROUP INC | 0.23% |
| G-III APPAREL GROUP LTD | 0.22% |
| GAIN CAPITAL HOLDINGS INC | 0.21% |
| RING ENERGY INC | 0.21% |
| STEINER LEISURE LTD | 0.21% |
| BOFI HOLDING INC | 0.19% |
| REGIONAL MANAGEMENT CORP | 0.18% |
| CORINTHIAN COLLEGES INC | 0.17% |
| HEALTH INSURANCE INNOVATIO-A | 0.17% |
| ELECTRONICS FOR IMAGING | 0.15% |
| SUCAMPO PHARMACEUTICALS-CL A | 0.11% |
| BANCTEC INC-144A P/P 144A | 0.07% |
| UNITEK GLOBAL SERVICES INC | 0.03% |
| EXCO RESOURCES INC-RT | 0.01% |
Full Portfolio Holdings as of 12/31/13
| VALIDUS HOLDINGS LTD | 1.10% |
|---|---|
| ALLIED WORLD ASSURANCE CO | 0.99% |
| PARTNERRE LTD | 0.94% |
| PNM RESOURCES INC | 0.93% |
| ISTAR FINANCIAL INC | 0.85% |
| SOUTHWEST GAS CORP | 0.85% |
| QUALITY DISTRIBUTION INC | 0.81% |
| CONSTELLIUM NV- CLASS A | 0.79% |
| PITNEY BOWES INC | 0.77% |
| FIRST MERCHANTS CORP | 0.76% |
| MATRIX SERVICE CO | 0.76% |
| AMERICAN CAPITAL LTD | 0.75% |
| INVESTORS BANCORP INC | 0.75% |
| LOGITECH INTERNATIONAL-REG | 0.75% |
| STANCORP FINANCIAL GROUP | 0.75% |
| SUMMIT HOTEL PROPERTIES INC | 0.74% |
| UNISYS CORP | 0.74% |
| TCP CAPITAL CORP | 0.73% |
| PACIFIC PREMIER BANCORP INC | 0.72% |
| ENERGEN CORP | 0.71% |
| OFG BANCORP | 0.71% |
| FINANCIAL INSTITUTIONS INC | 0.70% |
| KODIAK OIL & GAS CORP | 0.70% |
| STERLING BANCORP/DE | 0.70% |
| GLOBE SPECIALTY METALS INC | 0.69% |
| HUNTINGTON INGALLS INDUSTRIE | 0.68% |
| WEB.COM GROUP INC | 0.68% |
| AMERIS BANCORP | 0.67% |
| ENCORE CAPITAL GROUP INC | 0.67% |
| GT ADVANCED TECHNOLOGIES INC | 0.67% |
| SKECHERS USA INC-CL A | 0.67% |
| FIRST NBC BANK HOLDING CO | 0.66% |
| OM GROUP INC | 0.65% |
| SPARTAN STORES INC | 0.65% |
| MARRIOTT VACATIONS WORLD | 0.64% |
| MENTOR GRAPHICS CORP | 0.64% |
| RE/MAX HOLDINGS INC-CL A | 0.64% |
| RF MICRO DEVICES INC | 0.63% |
| BANCORP INC/THE | 0.62% |
| HANOVER INSURANCE GROUP INC/ | 0.62% |
| HORSEHEAD HOLDING CORP | 0.62% |
| PERFICIENT INC | 0.62% |
| SOLAR CAPITAL LTD | 0.62% |
| AMERICAN FINANCIAL GROUP INC | 0.61% |
| PERFORMANT FINANCIAL CORP | 0.61% |
| POPULAR INC | 0.61% |
| RAIT FINANCIAL TRUST | 0.61% |
| REINSURANCE GROUP OF AMERICA | 0.61% |
| ROCKVILLE FINANCIAL INC | 0.61% |
| RUSH ENTERPRISES INC-CL A | 0.61% |
| VOXX INTERNATIONAL CORP | 0.61% |
| GLOBAL CASH ACCESS HOLDINGS | 0.60% |
| IDACORP INC | 0.60% |
| INTEGRATED SILICON SOLUTION | 0.60% |
| KFORCE INC | 0.60% |
| STOCK BUILDING SUPPLY HOLDIN | 0.60% |
| LAKELAND FINANCIAL CORP | 0.59% |
| SYMMETRY MEDICAL INC | 0.59% |
| TIDEWATER INC | 0.59% |
| CABOT CORP | 0.58% |
| CHEMICAL FINANCIAL CORP | 0.58% |
| COWEN GROUP INC-CLASS A | 0.57% |
| DELUXE CORP | 0.57% |
| GOODYEAR TIRE & RUBBER CO | 0.57% |
| HD SUPPLY HOLDINGS INC | 0.57% |
| SCORPIO TANKERS INC | 0.57% |
| TOWER INTERNATIONAL INC | 0.57% |
| LSB INDUSTRIES INC | 0.56% |
| PARK-OHIO HOLDINGS CORP | 0.56% |
| SILICON IMAGE INC | 0.56% |
| PORTLAND GENERAL ELECTRIC CO | 0.55% |
| SM ENERGY CO | 0.55% |
| AVG TECHNOLOGIES | 0.54% |
| HEARTLAND FINANCIAL USA INC | 0.54% |
| KRATON PERFORMANCE POLYMERS | 0.54% |
| MAGNACHIP SEMICONDUCT | 0.54% |
| MAIDEN HOLDINGS LTD | 0.54% |
| STONERIDGE INC | 0.54% |
| TTM TECHNOLOGIES | 0.54% |
| ACTUATE CORP | 0.53% |
| COLONY FINANCIAL INC | 0.53% |
| CVB FINANCIAL CORP | 0.53% |
| MRC GLOBAL INC | 0.53% |
| ORION MARINE GROUP INC | 0.53% |
| QUESTCOR PHARMACEUTICALS | 0.53% |
| RPM INTERNATIONAL INC | 0.53% |
| RYDER SYSTEM INC | 0.53% |
| ASCENA RETAIL GROUP INC | 0.52% |
| GULFPORT ENERGY CORP | 0.52% |
| MDC PARTNERS INC-A | 0.52% |
| HILLENBRAND INC | 0.51% |
| PORTFOLIO RECOVERY ASSOCIATE | 0.51% |
| AEGEAN MARINE PETROLEUM NETW | 0.50% |
| GAMING AND LEISURE PROPERTIE | 0.50% |
| NATIONAL BANK HOLD-CL A | 0.50% |
| OPLINK COMMUNICATIONS INC | 0.50% |
| PHOTRONICS INC | 0.50% |
| UNITED FINANCIAL BANCORP INC | 0.50% |
| BILL BARRETT CORP | 0.49% |
| EMCORE CORP | 0.49% |
| EVERBANK FINANCIAL CORP | 0.49% |
| AVISTA CORP | 0.48% |
| EMPLOYERS HOLDINGS INC | 0.48% |
| FORMFACTOR INC | 0.48% |
| MEDLEY CAPITAL CORP | 0.48% |
| META FINANCIAL GROUP INC | 0.48% |
| MINERALS TECHNOLOGIES INC | 0.48% |
| TRIPLE-S MANAGEMENT CORP-B | 0.48% |
| EMCOR GROUP INC | 0.47% |
| FIRST NIAGARA FINANCIAL GRP | 0.47% |
| OMNOVA SOLUTIONS INC | 0.47% |
| CORE-MARK HOLDING CO INC | 0.46% |
| EPR PROPERTIES | 0.46% |
| HORIZON TECHNOLOGY FINANCE C | 0.46% |
| MIDSTATES PETROLEUM CO INC | 0.46% |
| STATE BANK FINANCIAL CORP | 0.46% |
| TRIMAS CORP | 0.46% |
| CAESARSTONE SDOT-YAM LTD | 0.45% |
| DANA HOLDING CORP | 0.45% |
| PHOTOMEDEX INC | 0.45% |
| TWO HARBORS INVESTMENT CORP | 0.45% |
| WESTERN ALLIANCE BANCORP | 0.45% |
| CHEMTURA CORP | 0.44% |
| CONVERGYS CORP | 0.44% |
| NEWELL RUBBERMAID INC | 0.44% |
| SILVERCREST ASSET MANAGEME-A | 0.44% |
| WABASH NATIONAL CORP | 0.44% |
| AMERICAN ASSETS TRUST INC | 0.43% |
| CHERRY HILL MORTGAGE INVESTM | 0.43% |
| UIL HOLDINGS CORP | 0.43% |
| CST BRANDS INC | 0.42% |
| EAGLE BANCORP INC | 0.42% |
| ENNIS INC | 0.42% |
| CENTENE CORP | 0.41% |
| DATALINK CORP | 0.41% |
| NAVISTAR INTERNATIONAL CORP | 0.41% |
| BERRY PLASTICS GROUP INC | 0.40% |
| COLEMAN CABLE INC | 0.40% |
| MFA FINANCIAL INC | 0.40% |
| ENSIGN GROUP INC/THE | 0.39% |
| EPL OIL & GAS INC | 0.39% |
| KAR AUCTION SERVICES INC | 0.39% |
| HERCULES TECH GROWTH | 0.38% |
| PHH CORP | 0.38% |
| POLYCOM INC | 0.38% |
| ROCK TENN COMPANY -CL A | 0.37% |
| COGENT COMMUNICATIONS GROUP | 0.36% |
| PEP BOYS-MANNY MOE & JACK | 0.36% |
| STONE ENERGY CORP | 0.36% |
| PERICOM SEMICONDUCTOR CORP | 0.35% |
| PROVIDENCE SERVICE CORP | 0.35% |
| TIVO INC | 0.35% |
| GREIF INC -CL A | 0.34% |
| KEY ENERGY SERVICES INC | 0.34% |
| PIONEER ENERGY SERVICES CORP | 0.34% |
| CAMPUS CREST COMMUNITIES INC | 0.33% |
| EXPRESS INC | 0.33% |
| NEWPORT CORP | 0.33% |
| DYNAMIC MATERIALS CORP | 0.32% |
| EDUCATION REALTY TRUST INC | 0.32% |
| FLUSHING FINANCIAL CORP | 0.32% |
| REXNORD CORP | 0.32% |
| SANDERSON FARMS INC | 0.32% |
| CUTERA INC | 0.31% |
| ONE LIBERTY PROPERTIES INC | 0.31% |
| UNS ENERGY CORP | 0.31% |
| HOWARD HUGHES CORP/THE | 0.30% |
| PIEDMONT OFFICE REALTY TRU-A | 0.30% |
| SELECT COMFORT CORPORATION | 0.30% |
| BANC OF CALIFORNIA INC | 0.29% |
| HEALTHCARE TRUST OF AME-CL A | 0.29% |
| QTS REALTY TRUST INC-CL A | 0.28% |
| EXCO RESOURCES INC | 0.27% |
| WET SEAL INC/THE-CLASS A | 0.27% |
| ADVANCED EMISSIONS SOLUTIONS | 0.26% |
| AMBARELLA INC | 0.24% |
| FIRST OF LONG ISLAND CORP | 0.24% |
| UCP INC - CL A | 0.24% |
| FIRST CONNECTICUT BANCORP | 0.23% |
| FORESTAR GROUP INC | 0.23% |
| INDEPENDENT BANK GROUP INC | 0.23% |
| G-III APPAREL GROUP LTD | 0.22% |
| GAIN CAPITAL HOLDINGS INC | 0.21% |
| RING ENERGY INC | 0.21% |
| STEINER LEISURE LTD | 0.21% |
| BOFI HOLDING INC | 0.19% |
| REGIONAL MANAGEMENT CORP | 0.18% |
| CORINTHIAN COLLEGES INC | 0.17% |
| HEALTH INSURANCE INNOVATIO-A | 0.17% |
| ELECTRONICS FOR IMAGING | 0.15% |
| SUCAMPO PHARMACEUTICALS-CL A | 0.11% |
| BANCTEC INC-144A P/P 144A | 0.07% |
| UNITEK GLOBAL SERVICES INC | 0.03% |
| EXCO RESOURCES INC-RT | 0.01% |
Prior Top 10 Holdings
| Top 10 Holdings as of 01/31/14 | |
|---|---|
| 1: Validus Holdings | 1.04% |
| 2: Pnm Resources | 1.01% |
| 3: Istar Financial | 0.97% |
| 4: Allied World Assurance Holdings Ag | 0.95% |
| 5: Constellium Nv | 0.93% |
| 6: Partnerre Holdings | 0.92% |
| 7: Logitech International | 0.92% |
| 8: Quality Distribution | 0.92% |
| 9: Pitney Bowes | 0.89% |
| 10: Southwest Gas Corp | 0.87% |
| Holdings represent 9.42% of portfolio | |
| Top 10 Holdings as of 12/31/13 | |
|---|---|
| 1: Validus Holdings | 1.10% |
| 2: Allied World Assurance Holdings Ag | 0.99% |
| 3: Partnerre Holdings | 0.94% |
| 4: Pnm Resources | 0.93% |
| 5: Southwest Gas Corp | 0.85% |
| 6: Istar Financial | 0.85% |
| 7: Matrix Service | 0.81% |
| 8: Quality Distribution | 0.81% |
| 9: Constellium Nv | 0.79% |
| 10: Pitney Bowes | 0.77% |
| Holdings represent 8.84% of portfolio | |
| Top 10 Holdings as of 11/30/13 | |
|---|---|
| 1: Validus Holdings | 1.10% |
| 2: Allied World Assurance Holdings Ag | 0.99% |
| 3: Partnerre Holdings | 0.92% |
| 4: Pnm Resources | 0.90% |
| 5: Skechers U.S.A. | 0.82% |
| 6: Southwest Gas Corp | 0.81% |
| 7: Stancorp Financial Group | 0.80% |
| 8: Matrix Service | 0.79% |
| 9: Quality Distribution | 0.78% |
| 10: Istar Financial | 0.77% |
| Holdings represent 8.68% of portfolio | |
| Top 10 Holdings as of 10/31/13 | |
|---|---|
| 1: Validus Holdings | 1.12% |
| 2: Allied World Assurance Holdings Ag | 0.99% |
| 3: Pnm Resources | 0.95% |
| 4: Partnerre Holdings | 0.92% |
| 5: Southwest Gas Corp | 0.86% |
| 6: Kodiak Oil Gas Corp | 0.84% |
| 7: Energen Corp | 0.81% |
| 8: Matrix Service | 0.80% |
| 9: Istar Financial | 0.78% |
| 10: Summit Hotel Properties | 0.78% |
| Holdings represent 8.85% of portfolio | |
Portfolio Composition as of 01/31/14
| Common stock | 99.00% |
|
|---|---|---|
| Cash and net other assets | 1.00% |
|
Top Industry Sectors as of 01/31/14
| Financials | 38.07% |
|---|---|
| Information technology | 14.36% |
| Industrials | 11.82% |
| Consumer discretionary | 9.51% |
| Materials | 7.82% |
| Energy | 7.44% |
| Utilities | 4.15% |
| Health care | 4.00% |
| Cash and net other assets | 1.00% |
| 1.83% |
| Consumer staples | 0.99% |
|---|---|
| Telecommunication services | 0.84% |
0
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.
The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 |
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% |
The fund invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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.