‡ 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.
Putnam Advisor Preferred
Putnam Mortgage Securities Subaccount
The subaccount seeks as high a level of current income as Putnam Management believes is consistent with preservation of capital.
The subaccount typically divides its assets between U.S. Treasury securities and Government National Mortgage Association certificates (Ginnie Maes). The fund takes a slightly more aggressive approach to total return by investing in longer-term securities. Investors should have an investment horizon of at least three years to give their investment the full potential to benefit from a typical interest-rate cycle.
Seeking opportunities through mortgage-backed securitiesBroad securitized opportunitiesThe fund invests in mortgage sectors, including agency MBS and CMOs, and non-agency RMBS and CMBS, and ABS.Higher potential returns By investing in mortgage-backed bonds, the fund can offer the potential for higher returns than an investment strategy focused only on agency MBS.Leading research The fund's portfolio managers use proprietary models to assist in the evaluation of mortgage-backed bonds and to manage the fund's interest-rate risk.
- Michael V. Salm (Investing since 1989)
- Brett S. Kozlowski, CFA (Investing since 1997)
Daily pricing as of 03/27/23
|with optional enhanced death benefits|
|Unit Value Change||-0.181393||-0.17536|
Lipper ranking ‡ as of 02/28/23
Category: U.S. Mortgage Funds
|Percentile ranking||Rank/Funds in category|
Quick facts as of 02/28/23
|Fiscal Year End||December|
|Asset Class||Putnam Advisor Preferred|
|Subaccount Status||Open to new investors|
|Number of issues||827|
|Turnover (fiscal year end)||1,110%|
Performance as of 12/31/22
|Annualized Performance||Last Quarter||Year
|1 yr.||3 yrs.||5 yrs.||10 yrs.||Life of
|With optional enhanced death benefit|
|With optional enhanced death benefit|
Annual Performance at NAV
|With optional enhanced death benefit|
Monthly as of 02/28/23
YTD as of 03/27/23
With optional enhanced death benefit
Monthly as of 02/28/23
YTD as of 03/27/23
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 02/28/23
|Avg. Eff. Maturity||14.70|
|Avg. Eff. Duration||5.18|
|Avg. Yield to Maturity||7.96|
|Standard Deviation (3 yrs.)||9.53|
|0 to 1 yr.||-118.15%|
|1 to 5 yrs.||42.69%|
|5 to 10 yrs.||109.55%|
|10 to 15 yrs.||66.35%|
|Over 15 yrs.||-0.44%|
|CCC and Below||3.49%|
|Fnma Fn30 Tba Umbs 05.0000 03/01/2053||25.91%|
|Fnma Fn30 Tba Umbs 02.0000 03/01/2053||21.47%|
|Fnma Fn30 Tba Umbs 02.5000 03/01/2053||19.55%|
|Fnma Fn30 Tba Umbs 05.5000 03/01/2053||13.16%|
|Fnma Fn30 Tba Umbs 04.5000 03/01/2053||12.69%|
|Fnma Fn30 Tba Umbs 04.0000 03/01/2053||9.27%|
|Fnma Fn30 Tba Umbs 03.0000 03/01/2053||8.70%|
|Gnma Gii30 Tba 04.5000 03/01/2053||6.39%|
|Gnma Gii30 Tba 03.5000 03/01/2053||6.06%|
|Fnma Fn30 Tba Umbs 03.5000 03/01/2053||6.00%|
|Top 10 holdings, total:||129.20%|
|Top 10 holdings as of 02/28/23|
|1: Fnma Fn30 Tba Umbs 05.0000 03/01/2053||25.91%|
|2: Fnma Fn30 Tba Umbs 02.0000 03/01/2053||21.47%|
|3: Fnma Fn30 Tba Umbs 02.5000 03/01/2053||19.55%|
|4: Fnma Fn30 Tba Umbs 05.5000 03/01/2053||13.16%|
|5: Fnma Fn30 Tba Umbs 04.5000 03/01/2053||12.69%|
|6: Fnma Fn30 Tba Umbs 04.0000 03/01/2053||9.27%|
|7: Fnma Fn30 Tba Umbs 03.0000 03/01/2053||8.70%|
|8: Gnma Gii30 Tba 04.5000 03/01/2053||6.39%|
|9: Gnma Gii30 Tba 03.5000 03/01/2053||6.06%|
|10: Fnma Fn30 Tba Umbs 03.5000 03/01/2053||6.00%|
|Holdings represent 129.20% of portfolio|
|Top 10 holdings as of 01/31/23|
|1: Fnma Fn30 Tba Umbs 02.0000 02/01/2053||20.92%|
|2: Fnma Fn30 Tba Umbs 02.5000 02/01/2053||19.04%|
|3: Fnma Fn30 Tba Umbs 05.0000 02/01/2053||12.48%|
|4: Fnma Fn30 Tba Umbs 05.0000 03/01/2053||12.47%|
|5: Fnma Fn30 Tba Umbs 04.5000 02/01/2053||12.28%|
|6: Fnma Fn30 Tba Umbs 04.0000 02/01/2053||9.00%|
|7: Fnma Fn30 Tba Umbs 03.0000 02/01/2053||8.46%|
|8: Fnma Fn30 Tba Umbs 05.5000 02/01/2053||6.31%|
|9: Fnma Fn30 Tba Umbs 05.5000 03/01/2053||6.31%|
|10: Gnma Gii30 Tba 04.5000 02/01/2053||6.17%|
|Holdings represent 113.45% of portfolio|
|Top 10 holdings as of 12/31/22|
|1: Fnma Fn30 Tba Umbs 02.0000 01/01/2053||21.26%|
|2: Fnma Fn30 Tba Umbs 02.5000 01/01/2053||19.33%|
|3: Fnma Fn30 Tba Umbs 05.5000 01/01/2053||16.33%|
|4: Fnma Fn30 Tba Umbs 05.0000 01/01/2053||9.63%|
|5: Fnma Fn30 Tba Umbs 04.0000 01/01/2053||9.17%|
|6: Fnma Fn30 Tba Umbs 03.0000 01/01/2053||8.58%|
|7: Gnma Gii30 Tba 04.5000 01/01/2053||6.32%|
|8: Gnma Gii30 Tba 03.5000 01/01/2053||5.98%|
|9: Fnma Fn30 Tba Umbs 03.5000 01/01/2053||5.92%|
|10: Gnma Gii30 Tba 03.0000 01/01/2053||5.80%|
|Holdings represent 108.34% of portfolio|
|Top 10 holdings as of 11/30/22|
|1: Fnma Fn30 Tba Umbs 02.0000 01/01/2053||21.06%|
|2: Fnma Fn30 Tba Umbs 02.5000 01/01/2053||19.14%|
|3: Fnma Fn30 Tba Umbs 04.5000 01/01/2053||18.68%|
|4: Fnma Fn30 Tba Umbs 05.5000 12/01/2052||16.17%|
|5: Fnma Fn30 Tba Umbs 04.0000 01/01/2053||9.08%|
|6: Fnma Fn30 Tba Umbs 03.0000 01/01/2053||8.50%|
|7: Fnma Fn30 Tba Umbs 05.0000 01/01/2053||6.36%|
|8: Gnma Gii30 Tba 04.5000 12/01/2052||6.26%|
|9: Gnma Gii30 Tba 03.5000 12/01/2052||5.93%|
|10: Fnma Fn30 Tba Umbs 03.5000 12/01/2052||5.86%|
|Holdings represent 117.05% of portfolio|
Portfolio composition as of 02/28/23
|Cash Investment||Non-Cash Investment||Total Portfolio|
|Weight||Spread Duration||Weight||Spread Duration||Weight||Spread Duration|
|Residential MBS (non-agency)||19.76%||0.67||0.00%||0.00||19.76%||0.67|
|Asset-backed securities (ABS)||0.49%||0.01||0.00%||0.00||0.49%||0.01|
|Interest rate swaps||0.00%||0.00||0.00%||-5.53||0.00%||-5.53|
Spread duration is displayed in years and reflects the contribution by sector to the portfolio's total spread duration with the exception of the Treasury and Interest-rate swap sectors where effective duration is displayed. Spread duration estimates the price sensitivity of a specific sector or asset class to a 100 basis-point movement, 1%, (either widening or narrowing) in its yield spread relative to Treasuries. Effective duration provides a measure of a portfolio's interest-rate sensitivity. The longer a portfolio's duration, the more sensitive the portfolio is to shifts in the interest rates. Allocations may not total 100% of net assets because the table includes the notional value of certain derivatives (the economic value for purposes of calculating periodic payment obligations), in addition to the market value of securities.
Consider these risks before investing: Funds that invest in government securities are not guaranteed. Mortgage- and asset-backed securities are subject to prepayment risk, which means that they may increase in value less than other bonds when interest rates decline and decline in value more than other bonds when interest rates rise. The fund may have to invest the proceeds from prepaid investments, including mortgage- and asset-backed investments, in other investments with less attractive terms and yields. The fund’s investments in mortgage-backed securities and asset-backed securities, and in certain other securities and derivatives, may be or become illiquid. The fund’s exposure to privately issued mortgage-backed securities and mortgage-backed securities issued or guaranteed by the U.S. government or its agencies or instrumentalities may make the fund’s net asset value more susceptible to economic, market, political and other developments affecting the housing or real estate markets. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds. Default risk is generally higher for non-qualified mortgages. 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. Unlike bonds, funds that invest in bonds have fees and expenses. 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 (such as a region of the United States), industry, or sector, such as the housing or real estate markets. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings or in relevant markets. 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.
Credit qualities are shown as a percentage of the fund's net assets. A bond rated BBB or higher (A-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor’s, Moody’s, and Fitch. To-be-announced (TBA) mortgage commitments, if any, are included based on their issuer ratings. Ratings may vary over time. Cash, derivative instruments, and net other assets are shown in the not-rated category. Payables and receivables for TBA mortgage commitments are included in the not-rated category and may result in negative weights. The fund itself has not been rated by an independent rating agency.
|Breakpoint||Sales Charge||Dealer Allowance||CDSC Liab|
|$0 - $0||0.00%||0.00%||N|