Putnam Allstate Advisor Preferred

Putnam Global Equity Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount targets midsize and large industry leaders with consistent earnings growth improvement and the likelihood of positive earnings surprises. The fund managers seek companies in the U.S. and abroad with high rates of growth and dominant market share.

Sales story

Selecting companies around the world that are attractive for investorsEstablished companies: The fund invests in large and midsize companies in the United States and developed international markets to benefit from global opportunities.A flexible strategy: Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads global markets.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 11/17/17

with optional enhanced death benefits
Unit Value $9.790268 $9.531559
Unit Value Change 0.004745 0.004581

Lipper ranking ‡ as of 10/31/17

Category: Global Multi-Cap Core

  Percentile ranking Rank/Funds in category
10 yrs. 51% 7/13
1 yr. 9% 2/24
3 yrs. 67% 16/23
5 yrs. 36% 6/16

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.

‡ 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 10/31/17

Fiscal Year End December
Asset Class Putnam Allstate Advisor Preferred
Subaccount Status Open to new investors
Number of issues 112
Turnover (fiscal year end) 54%
Net Assets $171M
Inception Date 05/01/90

Performance

Performance as of 09/30/17

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 6.67% 20.44% 18.39% 4.71% 9.24% 1.44% 4.62%
Standardized 4.67% 18.44% 16.39% 4.71% 9.24% 1.44% 4.62%
With optional enhanced death benefit
Unit Value 6.63% 20.30% 18.21% 4.55% 9.07% 1.28% 4.46%
Standardized 4.63% 18.30% 16.21% 4.55% 9.07% 1.28% 4.46%
Actual performance
Unit Value 6.67% 20.44% 18.39% 4.71% 9.24% 1.44% 0.57%
Standardized 4.67% 18.44% 16.39% 4.71% 9.24% 1.44% 0.57%
With optional enhanced death benefit
Unit Value 6.63% 20.30% 18.21% 4.55% 9.07% 1.28% 1.62%
Standardized 4.63% 18.30% 16.21% 4.55% 9.07% 1.28% 1.62%

Annual Performance at NAV

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
7.21% -46.25% 27.83% 8.02% -6.52% 18.19% 29.80% -0.20% -3.33% -0.59%
With optional enhanced death benefit
7.05% -46.33% 27.63% 7.86% -6.66% 18.01% 29.60% -0.36% -3.48% -0.74%

Restated performance

Monthly as of 10/31/17

Unit Value 1.65%
Standardized -0.35%

YTD as of 11/17/17

Unit Value 23.31%
Standardized 21.31%

With optional enhanced death benefit

Monthly as of 10/31/17

Unit Value 1.63%
Standardized -0.37%

YTD as of 11/17/17

Unit Value 23.14%
Standardized 21.14%

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.

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 10/31/17

Alpha (%) -0.76
Beta 0.96
R Squared 0.90
Standard Deviation (3 yrs.) 10.37

Holdings

Top 10 holdings as of 10/31/17

Alphabet 3.11%
Nrg Energy 2.20%
Yamaha Motor 2.04%
Becton Dickinson And 1.98%
Suncor Energy 1.74%
Norfolk Southern Corp 1.71%
Unilever Nv 1.66%
Amazon.Com 1.58%
Bank Of America Corp 1.55%
Micron Technology 1.53%
Top 10 holdings, total: 19.10%

Equity Holdings as of 09/30/17

ALPHABET INC-CL C 2.95%
NRG ENERGY INC 2.27%
YAMAHA MOTOR CO LTD 2.08%
BECTON DICKINSON AND CO 1.88%
NORFOLK SOUTHERN CORP 1.74%
UNILEVER NV-CVA 1.70%
SUNCOR ENERGY INC 1.61%
AMAZON.COM INC 1.56%
E*TRADE FINANCIAL CORPORATION 1.51%
BANK OF AMERICA CORP 1.45%
ALIBABA GROUP HOLDING-SP ADR 1.41%
ASSURED GUARANTY LTD 1.41%
MICRON TECHNOLOGY INC 1.37%
DXC TECHNOLOGY CO 1.35%
CF INDUSTRIES HOLDINGS INC 1.33%
PRUDENTIAL PLC 1.32%
RPC GROUP PLC 1.30%
BANCO MACRO SA-ADR 1.26%
BAYER AG-REG 1.26%
FAIRFAX FINANCIAL HLDGS LTD 1.26%
LOWES COMPANIES INC 1.17%
EURAZEO SA 1.15%
EXELON CORP 1.14%
GOODYEAR TIRE & RUBBER CO 1.14%
BOSTON SCIENTIFIC CORP 1.13%
NCSOFT CORP 1.10%
VISA INC-CLASS A SHARES 1.09%
INSTRUCTURE INC 1.08%
ALCOA CORP 1.04%
BRUNSWICK CORP 1.02%
CALPINE CORP 1.02%
KERRY GROUP PLC-A 1.02%
ASSA ABLOY AB-B 1.00%
KENNEDY-WILSON HOLDINGS INC 0.99%
KRAFT HEINZ CO/THE 0.99%
RAYTHEON COMPANY 0.99%
SEVEN GENERATIONS ENERGY - A 0.99%
ASSOCIATED BRITISH FOODS PLC 0.98%
CHALLENGER LTD 0.96%
KYUDENKO CORP 0.96%
NOMAD FOODS LTD 0.96%
CALATLANTIC GROUP INC 0.95%
DIAGEO PLC 0.94%
NINTENDO CO LTD 0.92%
RADIAN GROUP INC 0.92%
LIVE NATION ENTERTAINMENT IN 0.90%
SERVICENOW INC 0.89%
BANK OF IRELAND GROUP PLC 0.88%
COMPASS GROUP PLC 0.88%
DANAHER CORP 0.88%
ROHM CO LTD 0.87%
SAMSUNG ELECTRONICS-PREF 0.87%
HIBERNIA REIT PLC 0.86%
BROADCOM LTD 0.85%
GODADDY INC - CLASS A 0.85%
DALATA HOTEL GROUP PLC 0.84%
PIONEER NAT RES CO 0.84%
CONOCOPHILLIPS 0.82%
REALPAGE INC 0.82%
NEWMONT MINING CORP 0.81%
TECHTRONIC INDUSTRIES CO LTD 0.81%
DENTSPLY SIRONA INC 0.79%
CHUGAI PHARMACEUTICAL CO LTD 0.78%
VERTEX PHARMACEUTICALS INC 0.78%
TELECOM ITALIA-RSP 0.77%
BALL CORP 0.76%
SHERWIN-WILLIAMS CO/THE 0.76%
JOHNSON CONTROLS INTERNATION 0.75%
YOOX NET-A-PORTER GROUP 0.75%
CHUBB LTD 0.74%
PALTAC CORPORATION 0.74%
VODAFONE GROUP PLC-SP ADR 0.73%
ADOBE SYSTEMS INC 0.72%
COMPUGROUP MEDICAL SE 0.72%
JAZZ PHARMACEUTICALS PLC 0.72%
EOG RESOURCES INC 0.69%
HILTON WORLDWIDE HOLDINGS IN 0.69%
MICRO FOCUS INTERNATIONAL 0.69%
MOLSON COORS BREWING CO -B 0.68%
KDDI CORP 0.67%
SERVICE CORP INTERNATIONAL 0.67%
SHISEIDO CO LTD 0.65%
ASTRAZENECA PLC 0.63%
DOWDUPONT INC 0.63%
FORTUNE BRANDS HOME & SECURI 0.63%
MAKEMYTRIP LTD 0.63%
SONY CORP 0.63%
KONINKLIJKE KPN NV 0.62%
UBER TECH INC P/P CV PFD 0.62%
L3 TECHNOLOGIES INC 0.61%
EXPEDIA INC 0.59%
KION GROUP AG 0.58%
REGENERON PHARMACEUTICALS 0.58%
IRB BRASIL RESSEGUROS SA 0.57%
PLAINS ALL AMER PIPELINE LP 0.57%
ATRESMEDIA CORP DE MEDIOS DE 0.56%
WORKPOINT ENTERTAINMENT-FOR 0.54%
MBIA INC 0.51%
SUMMIT MATERIALS INC -CL A 0.50%
SYMRISE AG 0.49%
ALKERMES PLC 0.47%
HARTFORD FINANCIAL SVCS GRP 0.47%
PACIRA PHARMACEUTICALS INC 0.46%
RE/MAX HOLDINGS INC-CL A 0.26%
ZHONGAN ONLINE P&C I 0.05%
GLOBAL FASHION GRP 0.03%
GLOBAL FASHION GRP P/P 0.03%
FABFURNISH 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 09/30/17

ALPHABET INC-CL C 2.95%
NRG ENERGY INC 2.27%
YAMAHA MOTOR CO LTD 2.08%
BECTON DICKINSON AND CO 1.88%
NORFOLK SOUTHERN CORP 1.74%
UNILEVER NV-CVA 1.70%
SUNCOR ENERGY INC 1.61%
AMAZON.COM INC 1.56%
E*TRADE FINANCIAL CORPORATION 1.51%
BANK OF AMERICA CORP 1.45%
ALIBABA GROUP HOLDING-SP ADR 1.41%
ASSURED GUARANTY LTD 1.41%
MICRON TECHNOLOGY INC 1.37%
DXC TECHNOLOGY CO 1.35%
CF INDUSTRIES HOLDINGS INC 1.33%
PRUDENTIAL PLC 1.32%
RPC GROUP PLC 1.30%
BANCO MACRO SA-ADR 1.26%
BAYER AG-REG 1.26%
FAIRFAX FINANCIAL HLDGS LTD 1.26%
LOWES COMPANIES INC 1.17%
EURAZEO SA 1.15%
EXELON CORP 1.14%
GOODYEAR TIRE & RUBBER CO 1.14%
BOSTON SCIENTIFIC CORP 1.13%
NCSOFT CORP 1.10%
VISA INC-CLASS A SHARES 1.09%
INSTRUCTURE INC 1.08%
ALCOA CORP 1.04%
BRUNSWICK CORP 1.02%
CALPINE CORP 1.02%
KERRY GROUP PLC-A 1.02%
ASSA ABLOY AB-B 1.00%
KENNEDY-WILSON HOLDINGS INC 0.99%
KRAFT HEINZ CO/THE 0.99%
RAYTHEON COMPANY 0.99%
SEVEN GENERATIONS ENERGY - A 0.99%
ASSOCIATED BRITISH FOODS PLC 0.98%
CHALLENGER LTD 0.96%
KYUDENKO CORP 0.96%
NOMAD FOODS LTD 0.96%
CALATLANTIC GROUP INC 0.95%
DIAGEO PLC 0.94%
NINTENDO CO LTD 0.92%
RADIAN GROUP INC 0.92%
LIVE NATION ENTERTAINMENT IN 0.90%
SERVICENOW INC 0.89%
BANK OF IRELAND GROUP PLC 0.88%
COMPASS GROUP PLC 0.88%
DANAHER CORP 0.88%
ROHM CO LTD 0.87%
SAMSUNG ELECTRONICS-PREF 0.87%
HIBERNIA REIT PLC 0.86%
BROADCOM LTD 0.85%
GODADDY INC - CLASS A 0.85%
DALATA HOTEL GROUP PLC 0.84%
PIONEER NAT RES CO 0.84%
CONOCOPHILLIPS 0.82%
REALPAGE INC 0.82%
NEWMONT MINING CORP 0.81%
TECHTRONIC INDUSTRIES CO LTD 0.81%
DENTSPLY SIRONA INC 0.79%
CHUGAI PHARMACEUTICAL CO LTD 0.78%
VERTEX PHARMACEUTICALS INC 0.78%
TELECOM ITALIA-RSP 0.77%
BALL CORP 0.76%
SHERWIN-WILLIAMS CO/THE 0.76%
JOHNSON CONTROLS INTERNATION 0.75%
YOOX NET-A-PORTER GROUP 0.75%
CHUBB LTD 0.74%
PALTAC CORPORATION 0.74%
VODAFONE GROUP PLC-SP ADR 0.73%
ADOBE SYSTEMS INC 0.72%
COMPUGROUP MEDICAL SE 0.72%
JAZZ PHARMACEUTICALS PLC 0.72%
EOG RESOURCES INC 0.69%
HILTON WORLDWIDE HOLDINGS IN 0.69%
MICRO FOCUS INTERNATIONAL 0.69%
MOLSON COORS BREWING CO -B 0.68%
KDDI CORP 0.67%
SERVICE CORP INTERNATIONAL 0.67%
SHISEIDO CO LTD 0.65%
ASTRAZENECA PLC 0.63%
DOWDUPONT INC 0.63%
FORTUNE BRANDS HOME & SECURI 0.63%
MAKEMYTRIP LTD 0.63%
SONY CORP 0.63%
KONINKLIJKE KPN NV 0.62%
UBER TECH INC P/P CV PFD 0.62%
L3 TECHNOLOGIES INC 0.61%
EXPEDIA INC 0.59%
KION GROUP AG 0.58%
REGENERON PHARMACEUTICALS 0.58%
IRB BRASIL RESSEGUROS SA 0.57%
PLAINS ALL AMER PIPELINE LP 0.57%
ATRESMEDIA CORP DE MEDIOS DE 0.56%
WORKPOINT ENTERTAINMENT-FOR 0.54%
MBIA INC 0.51%
SUMMIT MATERIALS INC -CL A 0.50%
SYMRISE AG 0.49%
ALKERMES PLC 0.47%
HARTFORD FINANCIAL SVCS GRP 0.47%
PACIRA PHARMACEUTICALS INC 0.46%
RE/MAX HOLDINGS INC-CL A 0.26%
ZHONGAN ONLINE P&C I 0.05%
CHF/USD 12/20/2017 SSBT 0.03%
GLOBAL FASHION GRP 0.03%
GLOBAL FASHION GRP P/P 0.03%
EUR/USD 12/20/2017 CITI 0.02%
EUR/USD 12/20/2017 GSFX 0.02%
CHF/USD 12/20/2017 UBS 0.01%
DKK/USD 12/20/2017 CITI 0.01%
GBP/USD 12/20/2017 GSFX 0.01%
GBP/USD 12/20/2017 JPMCB 0.01%
JPY/USD 11/15/2017 GSFX 0.01%
AUD/USD 10/18/2017 JPMCB 0.00%
AUD/USD 10/18/2017 SSBT 0.00%
AUSTRALIAN DOLLAR ACCOUNT 0.00%
CAD/USD 10/18/2017 BANKAM 0.00%
CAD/USD 10/18/2017 GSFX 0.00%
CAD/USD 10/18/2017 JPMCB 0.00%
CAD/USD 10/18/2017 SSBT 0.00%
CAD/USD 10/18/2017 WPAC 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
CHF/USD 12/20/2017 JPMCB 0.00%
CNH/USD 11/15/2017 GSFX 0.00%
FABFURNISH GMBH P/P 0.00%
HKD/USD 11/15/2017 BANKAM 0.00%
HKD/USD 11/15/2017 BCAP-FX 0.00%
ILS/USD 10/18/2017 SSBT 0.00%
JPY/USD 11/15/2017 BANKAM 0.00%
JPY/USD 11/15/2017 JPMCB 0.00%
JPY/USD 11/15/2017 SSBT 0.00%
KRW/USD 11/15/2017 JPMCB 0.00%
NEW BIGFOOT OTHER ASSETS GMBH P/P 0.00%
NEW MIDDLE EAST OTHER ASSETS GMBH P/P 0.00%
NOK/USD 12/20/2017 JPMCB 0.00%
POUND STERLING CALL ACCOUNT 0.00%
SEK/USD 12/20/2017 JPMCB 0.00%
SGD/USD 11/15/2017 JPMCB 0.00%
EUR/USD 12/20/2017 JPMCB -0.01%
GBP/USD 12/20/2017 BANKAM -0.02%
GBP/USD 12/20/2017 WPAC -0.02%
EUR/USD 12/20/2017 HSBCB -0.04%
THE EURO EUR CALL ACCOUNT -0.13%

Prior top 10 holdings

Top 10 holdings as of 10/31/17
1: Alphabet 3.11%
2: Nrg Energy 2.20%
3: Yamaha Motor 2.04%
4: Becton Dickinson And 1.98%
5: Suncor Energy 1.74%
6: Norfolk Southern Corp 1.71%
7: Unilever Nv 1.66%
8: Amazon.Com 1.58%
9: Bank Of America Corp 1.55%
10: Micron Technology 1.53%
Holdings represent 19.10% of portfolio
Top 10 holdings as of 09/30/17
1: Alphabet 2.95%
2: Nrg Energy 2.27%
3: Yamaha Motor 2.08%
4: Becton Dickinson And 1.88%
5: Norfolk Southern Corp 1.74%
6: Unilever Nv 1.70%
7: Suncor Energy 1.61%
8: Amazon.Com 1.56%
9: E*Trade Financial Corp 1.51%
10: Bank Of America Corp 1.45%
Holdings represent 18.75% of portfolio
Top 10 holdings as of 08/31/17
1: Alphabet 2.95%
2: Nrg Energy 2.25%
3: Yamaha Motor 2.01%
4: Becton Dickinson And 1.95%
5: Unilever Nv 1.74%
6: Amazon.Com 1.62%
7: Norfolk Southern Corp 1.61%
8: Assured Guaranty 1.59%
9: Suncor Energy 1.47%
10: E*Trade Financial Corp 1.45%
Holdings represent 18.64% of portfolio
Top 10 holdings as of 07/31/17
1: Alphabet 3.10%
2: Nrg Energy 2.29%
3: Becton Dickinson And 2.02%
4: Yamaha Motor 1.85%
5: Amazon 1.79%
6: Assured Guaranty 1.76%
7: Suncor Energy 1.60%
8: E*TRADE Financial 1.47%
9: Bank of America 1.45%
10: Norfolk Southern 1.38%
Holdings represent 18.71% of portfolio

Portfolio Composition as of 10/31/17

Common stock 98.56%
Cash and net other assets 0.81%
Convertible preferred stock 0.63%

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.

Top Industry Sectors as of 10/31/17

Information technology 19.41%
Consumer discretionary 15.54%
Financials 15.15%
Health care 10.47%
Materials 8.00%
Industrials 7.78%
Consumer staples 7.33%
Energy 6.22%
Utilities 4.43%
 
Other
5.67%
Telecommunication services 2.93%
Real estate 1.93%
Cash and net other assets 0.81%

Country Allocation as of 10/31/17

United States 58.08%
Japan 8.61%
United Kingdom 7.40%
Canada 3.81%
Ireland 3.37%
Netherlands 2.86%
Germany 2.37%
South Korea 2.10%
China 2.00%
 
Other
9.40%
Australia 1.63%
Italy 1.43%
France 1.18%
Argentina 1.15%
Sweden 0.91%
Cash and net other assets 0.81%
India 0.60%
Brazil 0.59%
Spain 0.54%
Hong Kong 0.51%
Luxembourg 0.05%

Expenses

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.

‡ 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 2.00%
2 1.00%
3+ 0.00%