Putnam Allstate Advisor

Putnam Small Cap Growth Subaccount

The subaccount seeks long-term growth of capital.

Fund description

The subaccount invests primarily in small and midsize companies, seeking hidden opportunities in stocks with growth potential that has been relatively unnoticed by investors. The portfolio can own growth and value stocks without a bias toward either style.

Sales story

Seeking opportunities in small and midsize companiesSmaller companies: Often overlooked by Wall Street analysts, the stocks of smaller companies can represent attractive opportunities to firms with strong research capabilities.A flexible strategy: The fund can own growth- or value-style stocks, allowing it to seek opportunities regardless of which style is in favor.Differentiated research: The portfolio managers select stocks in a collaborative effort that emphasizes non-consensus critical thinking.

Management team

Daily pricing as of 08/20/19

with optional enhanced death benefits
Unit Value $35.275541 $34.413126
Unit Value Change -0.115751 -0.113064

Lipper ranking ‡ as of 07/31/19

Category: Small-Cap Growth Funds

  Percentile ranking Rank/Funds in category
10 yrs. 91% 69/75
1 yr. 36% 34/94
3 yrs. 85% 78/91
5 yrs. 97% 88/90

The subaccount invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 07/31/19

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 81
Turnover (fiscal year end) 138%
Net Assets $29M
Inception Date 05/01/03

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 8.98% 29.85% 5.05% 11.25% 4.01% 11.68% 8.11%
Standardized -0.39% 19.85% -4.04% 6.88% 0.14% 9.97% 6.28%
With optional enhanced death benefit
Unit Value 8.94% 29.75% 4.89% 11.08% 3.85% 11.51% 7.95%
Standardized -0.43% 19.75% -4.19% 6.70% -0.02% 9.79% 6.10%
Actual performance
Unit Value 8.98% 29.85% 5.05% 11.25% 4.01% 11.68% 8.11%
Standardized -0.39% 19.85% -4.04% 6.88% 0.14% 9.97% 6.28%
With optional enhanced death benefit
Unit Value -- -- -- -- -- -- --
Standardized -- -- -- -- -- -- --

Annual Performance at NAV

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
43.80% 27.92% -7.28% 12.94% 32.42% 5.71% -8.77% 14.08% 6.59% -14.92%
With optional enhanced death benefit
43.58% 27.72% -7.42% 12.76% 32.22% 5.55% -8.90% 13.91% 6.43% -15.05%

Restated performance

Monthly as of 07/31/19

Unit Value 2.36%
Standardized -6.55%

YTD as of 08/20/19

Unit Value 29.86%
Standardized 19.86%

With optional enhanced death benefit

Monthly as of 07/31/19

Unit Value 2.34%
Standardized -6.56%

YTD as of 08/20/19

Unit Value 29.74%
Standardized 19.74%

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.

The subaccount invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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.


Holdings

Top 10 holdings as of 07/31/19

Wingstop 3.58%
Mercury Systems 2.91%
Heico Corp 2.79%
Five Below 2.79%
Everbridge 2.69%
Bright Horizons Family Solutions 2.69%
Planet Fitness 2.43%
Hamilton Lane 2.29%
Realpage 2.24%
Cable One 2.23%
Top 10 holdings, total: 26.64%

Full Portfolio Holdings as of 06/30/19

WINGSTOP INC 3.65%
FIVE BELOW 2.94%
HEICO CORP-CLASS A 2.82%
BRIGHT HORIZONS FAMILY SOLUT 2.74%
MERCURY SYSTEMS INC 2.59%
NOVANTA INC 2.57%
EVERBRIDGE INC 2.42%
PLANET FITNESS INC - CL A 2.31%
HAMILTON LANE INC-CLASS A 2.29%
CABLE ONE INC 2.21%
REALPAGE INC 2.18%
MERIT MEDICAL SYSTEMS INC 2.14%
GRAND CANYON EDUCATION INC 1.99%
TREX COMPANY INC 1.87%
ALBANY INTL CORP-CL A 1.69%
EVO PAYMENTS INC-CLASS A 1.63%
RBC BEARINGS INC 1.63%
ENVESTNET INC 1.62%
SITEONE LANDSCAPE SUPPLY INC 1.62%
QUIDEL CORP 1.58%
KINSALE CAPITAL GROUP INC 1.57%
INSULET CORP 1.56%
EVERCORE INC - A 1.52%
LIVE NATION ENTERTAINMENT IN 1.52%
PAYLOCITY HOLDING CORP 1.48%
VERRA MOBILITY CORP 1.48%
PROS HOLDINGS INC 1.46%
ALTERYX INC - CLASS A 1.45%
REPLIGEN CORP 1.44%
CONMED CORP 1.34%
MEDPACE HOLDINGS INC 1.31%
EMERGENT BIOSOLUTIONS INC 1.28%
ENTEGRIS INC 1.24%
BOOT BARN HOLDINGS INC 1.12%
Q2 HOLDINGS INC 1.08%
BRINK'S CO/THE 1.08%
MIRATI THERAPEUTICS INC 1.07%
EXACT SCIENCES CORP 1.06%
HARSCO CORP 1.06%
MGP INGREDIENTS INC 1.00%
ARRAY BIOPHARMA INC 0.98%
WORLD WRESTLING ENTERTAIN-A 0.98%
PENUMBRA INC 0.92%
ASCENDIS PHARMA A/S - ADR 0.90%
TACTILE SYSTEMS TECHNOLOGY I 0.89%
LIVEPERSON INC 0.88%
CHEGG INC 0.88%
INGEVITY CORP 0.88%
LITTELFUSE INC 0.88%
SAIA INC 0.87%
QAD INC-A 0.86%
SAREPTA THERAPEUTICS INC 0.84%
LIGAND PHARMACEUTICALS 0.84%
FOCUS FINANCIAL PARTNERS-A 0.84%
BROOKS AUTOMATION INC 0.78%
HEALTHEQUITY INC 0.77%
MIMECAST LTD 0.76%
ANAPLAN INC 0.75%
CODEXIS INC 0.72%
PALOMAR HOLDINGS INC 0.71%
TABULA RASA HEALTHCARE INC 0.66%
FIVE9 INC 0.62%
GLOBAL BLOOD THERAPEUTICS IN 0.59%
J2 GLOBAL INC 0.58%
TELADOC HEALTH INC 0.55%
MARCUS CORPORATION 0.54%
ACCELERON PHARMA INC 0.53%
PLURALSIGHT INC - A 0.51%
TANDEM DIABETES CARE INC 0.50%
VERICEL CORP 0.50%
AMICUS THERAPEUTICS INC 0.47%
VOCERA COMMUNICATIONS INC 0.42%
ORCHARD THERAPEUTICS PLC 0.36%
NOVA MEASURING INSTRUMENTS 0.35%
ANTARES PHARMA INC 0.34%
AERIE PHARMACEUTICALS INC 0.34%
INTERCEPT PHARMACEUTICALS IN 0.29%
COLLIERS INTERNATIONAL GROUP 0.25%
LUCKIN COFFEE INC - ADR 0.20%

Prior top 10 holdings

Top 10 holdings as of 07/31/19
1: Wingstop 3.58%
2: Mercury Systems 2.91%
3: Heico Corp 2.79%
4: Five Below 2.79%
5: Everbridge 2.69%
6: Bright Horizons Family Solutions 2.69%
7: Planet Fitness 2.43%
8: Hamilton Lane 2.29%
9: Realpage 2.24%
10: Cable One 2.23%
Holdings represent 26.64% of portfolio
Top 10 holdings as of 06/30/19
1: Wingstop 3.65%
2: Five Below 2.94%
3: Heico Corp 2.82%
4: Bright Horizons Family Solutions 2.74%
5: Mercury Systems 2.59%
6: Novanta 2.57%
7: Everbridge 2.42%
8: Planet Fitness 2.31%
9: Hamilton Lane 2.29%
10: Cable One 2.21%
Holdings represent 26.54% of portfolio
Top 10 holdings as of 05/31/19
1: Five Below 3.47%
2: Wingstop 3.41%
3: Heico Corp 2.95%
4: Mercury Systems 2.78%
5: Bright Horizons Family Solutions 2.74%
6: Planet Fitness 2.68%
7: Novanta 2.40%
8: Realpage 2.37%
9: Everbridge 2.34%
10: Cable One 2.32%
Holdings represent 27.46% of portfolio
Top 10 holdings as of 04/30/19
1: Five Below 3.84%
2: Wingstop 3.14%
3: Mercury Systems 2.88%
4: Heico Corp 2.62%
5: Planet Fitness 2.59%
6: Realpage 2.58%
7: Novanta 2.54%
8: Bright Horizons Family Solutions 2.50%
9: Merit Medical Systems 2.16%
10: Cable One 2.14%
Holdings represent 26.99% of portfolio

Portfolio Composition as of 07/31/19

Common stock 96.47%
Cash and net other assets 3.53%

Portfolio characteristics 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. 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. Growth investing targets companies with above-average earnings that may be subject to price volatility if earnings expectations are not met.

Top Industry Sectors as of 07/31/19

Information technology 24.51%
Health care 23.95%
Industrials 16.12%
Consumer discretionary 15.98%
Financials 8.24%
Communication services 4.39%
Cash and net other assets 3.53%
Real estate 1.48%
Materials 1.06%
 
Other
0.74%
Consumer staples 0.74%

Expenses

Sales Charges/Fees

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

The subaccount invests all or a portion of its assets in small to midsize companies. Such investments increase the risk of greater price fluctuations. 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 7.00%
2 7.00%
3 6.00%
4 5.00%
5 4.00%
6 3.00%
7 2.00%
8+ 0.00%