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 09/13/19

with optional enhanced death benefits
Unit Value $10.129755 $9.83512
Unit Value Change 0.010568 0.01022

Lipper ranking ‡ as of 07/31/19

Category: Global Multi-Cap Growth

  Percentile ranking Rank/Funds in category
10 yrs. 69% 13/18
1 yr. 97% 27/27
3 yrs. 85% 21/24
5 yrs. 87% 20/22

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 08/31/19

Fiscal Year End December
Asset Class Putnam Allstate Advisor Preferred
Subaccount Status Open to new investors
Number of issues 84
Turnover (fiscal year end) 53%
Net Assets $205M
Inception Date 05/01/90

Performance

Performance as of 06/30/19

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value 2.25% 15.50% -0.75% 9.01% 2.88% 8.35% 4.49%
Standardized 0.25% 13.50% -2.73% 9.01% 2.88% 8.35% 4.49%
With optional enhanced death benefit
Unit Value 2.21% 15.42% -0.89% 8.85% 2.73% 8.18% 4.33%
Standardized 0.21% 13.42% -2.88% 8.85% 2.73% 8.18% 4.33%
Actual performance
Unit Value 2.25% 15.50% -0.75% 9.01% 2.88% 8.35% 0.73%
Standardized 0.25% 13.50% -2.73% 9.01% 2.88% 8.35% 0.73%
With optional enhanced death benefit
Unit Value 2.21% 15.42% -0.89% 8.85% 2.73% 8.18% 1.67%
Standardized 0.21% 13.42% -2.88% 8.85% 2.73% 8.18% 1.67%

Annual Performance at NAV

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
27.83% 8.02% -6.52% 18.19% 29.80% -0.20% -3.33% -0.59% 26.27% -13.89%
With optional enhanced death benefit
27.63% 7.86% -6.66% 18.01% 29.60% -0.36% -3.48% -0.74% 26.08% -14.02%

Restated performance

Monthly as of 08/31/19

Unit Value -2.05%
Standardized -4.01%

YTD as of 09/13/19

Unit Value 17.34%
Standardized 15.34%

With optional enhanced death benefit

Monthly as of 08/31/19

Unit Value -2.07%
Standardized -4.03%

YTD as of 09/13/19

Unit Value 17.21%
Standardized 15.21%

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 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 Talcott Resolution 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 Talcott Resolution 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 07/31/19

Alpha (%) -0.84
Beta 1.02
R Squared 0.92
Standard Deviation (3 yrs.) 11.70

Holdings

Top 10 holdings as of 07/31/19

Nrg Energy 3.59%
Amazon.Com 3.07%
Nomad Foods 2.89%
Assured Guaranty 2.85%
Unilever Nv 2.38%
Cenovus Energy 2.09%
Microsoft Corp 1.97%
Asahi Group Holdings 1.92%
Enterprise Products Partn 1.84%
Advance Auto Parts 1.81%
Top 10 holdings, total: 24.41%

Full Portfolio Holdings as of 06/30/19

NRG ENERGY INC 3.77%
AMAZON.COM INC 3.21%
NOMAD FOODS LTD 2.81%
ASSURED GUARANTY LTD 2.79%
UNILEVER NV-CVA 2.55%
CENOVUS ENERGY INC 2.01%
MICROSOFT CORP 1.97%
ADVANCE AUTO PARTS 1.88%
BECTON DICKINSON AND CO 1.81%
ENTERPRISE PRODUCTS PARTNERS 1.79%
UNION PACIFIC CORP 1.71%
COMPASS GROUP PLC 1.70%
VISA INC-CLASS A SHARES 1.64%
KINDER MORGAN INC 1.61%
BOSTON SCIENTIFIC CORP 1.60%
SERVICENOW INC 1.59%
SUMMIT MATERIALS INC -CL A 1.56%
BANK OF AMERICA CORP 1.54%
SHERWIN-WILLIAMS CO/THE 1.43%
FIRST DATA CORP- CLASS A 1.38%
SIG COMBIBLOC GROUP AG 1.38%
WALT DISNEY CO/THE 1.35%
ALPHABET INC-CL C 1.35%
DANAHER CORP 1.28%
JOHNSON CONTROLS INTERNATION 1.28%
NINTENDO CO LTD 1.23%
ASAHI GROUP HOLDINGS LTD 1.21%
CIGNA CORP 1.21%
HILTON WORLDWIDE HOLDINGS IN 1.21%
LOWES COMPANIES INC 1.21%
COCA-COLA CO/THE 1.13%
NOVOZYMES A/S-B SHARES 1.11%
ADOBE INC 1.10%
UNIVERSAL ENTERTAINMENT CORP 1.10%
ASTRAZENECA PLC 1.09%
ASHTEAD GROUP PLC 1.05%
PRUDENTIAL PLC 1.03%
FORTUNE BRANDS HOME & SECURI 1.01%
QBE INSURANCE GROUP LTD 1.00%
KENNEDY-WILSON HOLDINGS INC 1.00%
FAIRFAX FINANCIAL HLDGS LTD 1.00%
LENNAR CORP-A 1.00%
BALL CORP 0.99%
L3 TECHNOLOGIES INC 0.99%
ASSOCIATED BRITISH FOODS PLC 0.98%
LIVE NATION ENTERTAINMENT IN 0.98%
PIRELLI & C SPA 0.97%
RADIAN GROUP INC 0.97%
SUNCOR ENERGY INC 0.96%
CHENIERE ENERGY INC 0.95%
HERSHEY CO/THE 0.94%
SHISEIDO CO LTD 0.92%
VERTEX PHARMACEUTICALS INC 0.90%
SAMSUNG ELECTRONICS CO LTD 0.90%
PALTAC CORPORATION 0.85%
TEXAS INSTRUMENTS INC 0.84%
GODADDY INC - CLASS A 0.83%
PIONEER NAT RES CO 0.83%
BANK OF IRELAND GROUP PLC 0.82%
SINO-AMERICAN SILICON PRODUC 0.81%
EURAZEO SE 0.79%
ACCENTURE PLC-CL A 0.78%
KYUDENKO CORP 0.77%
REALPAGE INC 0.75%
DXC TECHNOLOGY CO 0.74%
OPEN HOUSE CO LTD 0.74%
YELLOW CAKE PLC 144A 0.72%
HONG KONG EXCHANGES & CLEAR 0.71%
WASTE CONNECTIONS INC 0.70%
INSTRUCTURE INC 0.70%
HONEYWELL INTERNATIONAL INC 0.70%
AXA SA 0.69%
E*TRADE FINANCIAL CORPORATION 0.69%
CONOCOPHILLIPS 0.69%
PERNOD RICARD SA 0.68%
EDELWEISS FINANCIAL SERVICES 0.66%
SCREEN HOLDINGS CO LTD 0.62%
DALATA HOTEL GROUP PLC 0.60%
HIBERNIA REIT PLC 0.59%
CHALLENGER LTD 0.56%
NXP SEMICONDUCTORS NV 0.53%
ICU MEDICAL INC 0.49%
UBER TECH INC P/P CV PFD 0.47%
SEVEN GENERATIONS ENERGY - A 0.24%
CROWDSTRIKE HOLDINGS INC - A 0.20%
TREASURY BILL 00.0000 07/18/2019 0.09%
JPY/USD 08/21/2019 GSFX 0.08%
CHF/USD 09/18/2019 BCAP-FX 0.04%
TREASURY BILL 00.0000 07/25/2019 0.03%
EUR/USD 09/18/2019 HSBCB 0.02%
EUR/USD 09/18/2019 RBSF 0.01%
GLOBAL FASHION GRP P/P 0.01%
SEK/USD 09/18/2019 JPMCB 0.01%
GLOBAL FASHION GRP 0.01%
EUR/USD 09/18/2019 GSFX 0.01%
NOK/USD 09/18/2019 JPMCB 0.00%
EUR/USD 09/18/2019 BANKAM 0.00%
HKD/USD 08/21/2019 BCAP-FX 0.00%
EUR/USD 09/18/2019 BCAP-FX 0.00%
ILS/USD 07/17/2019 SSBT 0.00%
SGD/USD 08/21/2019 JPMCB 0.00%
TWD/USD 08/21/2019 GSFX 0.00%
CNH/USD 08/21/2019 HSBCB 0.00%
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%
AUD/USD 07/17/2019 JPMCB -0.00%
GBP/USD 09/18/2019 BCAP-FX -0.00%
GBP/USD 09/18/2019 GSFX -0.00%
GBP/USD 09/18/2019 JPMCB -0.00%
GBP/USD 09/18/2019 SSBT -0.00%
KRW/USD 08/21/2019 JPMCB -0.00%
AUD/USD 07/17/2019 SSBT -0.00%
CHF/USD 09/18/2019 JPMCB -0.00%
DKK/USD 09/18/2019 CITI -0.00%
CAD/USD 07/17/2019 GSFX -0.01%
CAD/USD 07/17/2019 SSBT -0.01%
JPY/USD 08/21/2019 JPMCB -0.01%
JPY/USD 08/21/2019 CSI-FX -0.01%
GBP/USD 09/18/2019 BANKAM -0.02%
JPY/USD 08/21/2019 CITI -0.02%
JPY/USD 08/21/2019 SSBT -0.02%
JPY/USD 08/21/2019 BANKAM -0.02%

Prior top 10 holdings

Top 10 holdings as of 07/31/19
1: Nrg Energy 3.59%
2: Amazon.Com 3.07%
3: Nomad Foods 2.89%
4: Assured Guaranty 2.85%
5: Unilever Nv 2.38%
6: Cenovus Energy 2.09%
7: Microsoft Corp 1.97%
8: Asahi Group Holdings 1.92%
9: Enterprise Products Partn 1.84%
10: Advance Auto Parts 1.81%
Holdings represent 24.41% of portfolio
Top 10 holdings as of 06/30/19
1: Nrg Energy 3.77%
2: Amazon.Com 3.21%
3: Nomad Foods 2.81%
4: Assured Guaranty 2.79%
5: Unilever Nv 2.55%
6: Cenovus Energy 2.01%
7: Microsoft Corp 1.97%
8: Advance Auto Parts 1.88%
9: Becton Dickinson And 1.81%
10: Enterprise Products Partn 1.79%
Holdings represent 24.59% of portfolio
Top 10 holdings as of 05/31/19
1: Nrg Energy 3.70%
2: Assured Guaranty 2.99%
3: Amazon.Com 2.98%
4: Nomad Foods 2.85%
5: Unilever Nv 2.59%
6: BD Medical 2.31%
7: Boston Scientific Corp 1.97%
8: Servicenow 1.95%
9: Alphabet 1.89%
10: Cenovus Energy 1.77%
Holdings represent 25.00% of portfolio
Top 10 holdings as of 04/30/19
1: Nrg Energy 3.79%
2: Assured Guaranty 3.31%
3: Alphabet 3.06%
4: Amazon.Com 3.01%
5: Unilever Nv 2.47%
6: BD Medical 2.09%
7: Cenovus Energy 2.04%
8: Servicenow 1.92%
9: Boston Scientific Corp 1.82%
10: Nomad Foods 1.80%
Holdings represent 25.31% of portfolio

Portfolio Composition as of 07/31/19

Common stock 97.34%
Cash and net other assets 2.24%
Convertible preferred stock 0.42%

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 07/31/19

Information technology 15.69%
Consumer discretionary 13.40%
Financials 13.04%
Consumer staples 11.82%
Industrials 9.33%
Energy 8.65%
Health care 8.33%
Materials 6.58%
Communication services 5.07%
 
Other
8.09%
Utilities 3.59%
Real estate 2.26%
Cash and net other assets 2.24%

Country Allocation as of 07/31/19

United States 62.02%
United Kingdom 9.33%
Japan 8.24%
Canada 3.92%
Netherlands 2.38%
Cash and net other assets 2.24%
France 2.06%
Ireland 1.75%
Switzerland 1.44%
 
Other
6.62%
Denmark 1.08%
Australia 1.01%
Italy 0.95%
South Korea 0.84%
Taiwan 0.84%
Brazil 0.71%
Hong Kong 0.66%
India 0.52%
Luxembourg 0.01%

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%