Putnam Allstate Advisor Plus
Putnam Equity Income Subaccount
The subaccount seeks current income. Capital growth is a secondary objective when consistent with seeking current income.
- Highlights
- Performance
- Holdings
- Expenses
Fund Description
The subaccount employs Putnam's value strategy to invest primarily in stocks of large and mid-sized companies that are undervalued and poised for positive change. The subaccount favors dividend-paying companies and is broadly diversified across market sectors. To help manage volatility and increase current income, up to 20% of the portfolio can be invested in high quality, fixed-income securities.
Sales Story
Seeking to harness the power of stock dividends Dividend-paying companies: Dividends offer evidence of a company's commitment to creating shareholder value and are typically paid by more established companies.A large-value focus: The fund focuses on large 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 combines quantitative research with rigorous fundamental investment research to find opportunities and manage risk.
Management team
- Walter D. Scully, CPA (Investing since 1996)
- Darren A. Jaroch, CFA (Investing since 1996)
Daily Pricing as of 09/23/16
| with optional enhanced death benefits | ||
|---|---|---|
| Unit Value | $26.445253 | $25.910223 |
| Unit Value Change | -0.131624 | -0.129071 |
‡ Lipper Ranking as of 08/31/16
Category: Equity Income Funds
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 5% | 2/43 |
| 1 yr. | 78% | 55/70 |
| 3 yrs. | 32% | 19/60 |
| 5 yrs. | 6% | 3/54 |
Mutual funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. Capital gains, if any, are taxable for federal and, in most cases, state purposes. For some investors, investment income may be subject to the federal alternative minimum tax. Income from federally exempt funds may be subject to state and local taxes. 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.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 06/30/16
| Annualized Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | 2.76% | 2.70% | -2.65% | 7.30% | 9.16% | 6.08% | 7.40% |
| Standardized | -5.24% | -5.30% | -10.44% | 4.93% | 8.31% | 6.08% | 7.40% |
| With optional enhanced death benefit | |||||||
| Unit Value | 2.72% | 2.62% | -2.80% | 7.14% | 9.00% | 5.92% | 7.23% |
| Standardized | -5.28% | -5.38% | -10.57% | 4.76% | 8.13% | 5.92% | 7.23% |
| Actual performance | |||||||
| Unit Value | 2.76% | 2.70% | -2.65% | 7.30% | 9.16% | 6.08% | 7.40% |
| Standardized | -5.24% | -5.30% | -10.44% | 4.93% | 8.31% | 6.08% | 7.40% |
| With optional enhanced death benefit | |||||||
| Unit Value | -- | -- | -- | -- | -- | -- | -- |
| Standardized | -- | -- | -- | -- | -- | -- | -- |
| Cumulative Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | 2.76% | 2.70% | -2.65% | 23.54% | 55.02% | 80.41% | 155.80% |
| Standardized | -5.24% | -5.30% | -10.44% | 15.54% | 49.02% | 80.41% | 155.80% |
| With optional enhanced death benefit | |||||||
| Unit Value | 2.72% | 2.62% | -2.80% | 22.97% | 53.84% | 77.68% | 150.72% |
| Standardized | -5.28% | -5.38% | -10.57% | 14.97% | 47.84% | 77.68% | 150.72% |
| Actual performance | |||||||
| Unit Value | 2.76% | 2.70% | -2.65% | 23.54% | 55.02% | 80.41% | 155.80% |
| Standardized | -5.24% | -5.30% | -10.44% | 15.54% | 49.02% | 80.41% | 155.80% |
| With optional enhanced death benefit | |||||||
| Unit Value | -- | -- | -- | -- | -- | -- | -- |
| Standardized | -- | -- | -- | -- | -- | -- | -- |
Annual Performance at NAV
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
|---|---|---|---|---|---|---|---|---|---|
| 16.95% | 1.53% | -32.24% | 25.41% | 10.81% | 0.29% | 17.39% | 30.30% | 10.86% | -4.59% |
| With optional enhanced death benefit | |||||||||
| 16.77% | 1.37% | -32.35% | 25.22% | 10.64% | 0.14% | 17.21% | 30.10% | 10.69% | -4.74% |
Restated performance
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With optional enhanced death benefit
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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.
Mutual funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. Capital gains, if any, are taxable for federal and, in most cases, state purposes. For some investors, investment income may be subject to the federal alternative minimum tax. Income from federally exempt funds may be subject to state and local taxes. 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.
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 08/31/16
| Microsoft Corp | 2.74% |
|
|---|---|---|
| Northrop Grumman Corp | 2.71% |
|
| Eli Lilly | 2.47% |
|
| Johnson & Johnson | 2.27% |
|
| JPMorgan Chase | 2.26% |
|
| Exxon Mobil Corp | 2.22% |
|
| AT&T | 2.16% |
|
| Citigroup | 2.13% |
|
| Wells Fargo | 2.02% |
|
| Comcast Corp | 1.99% |
|
| Top 10 holdings, total: | 22.97% |
|
Equity Holdings as of 06/30/16
| NORTHROP GRUMMAN CORP | 3.18% |
|---|---|
| ELI LILLY & CO | 2.53% |
| MICROSOFT CORP | 2.46% |
| EXXON MOBIL CORP | 2.41% |
| JOHNSON & JOHNSON | 2.33% |
| AT&T INC | 2.31% |
| JPMORGAN CHASE & CO | 2.10% |
| COMCAST CORP-CLASS A | 2.01% |
| CITIGROUP INC | 1.91% |
| WELLS FARGO & CO | 1.90% |
| PHILIP MORRIS INTERNATIONAL | 1.49% |
| MARATHON OIL CORP | 1.45% |
| CVS HEALTH CORP | 1.38% |
| L-3 COMMUNICATIONS HLDGS INC | 1.36% |
| ROYAL DUTCH SHELL-SPON ADR-A | 1.33% |
| ALPHABET INC-CL C | 1.31% |
| COTY INC-CL A | 1.27% |
| HONEYWELL INTERNATIONAL INC | 1.19% |
| VERIZON COMMUNICATIONS INC | 1.13% |
| BANK OF AMERICA CORP | 1.12% |
| APPLE INC | 1.10% |
| AMERICAN INTERNATIONAL GROUP | 1.09% |
| ASTRAZENECA PLC-SPONS ADR | 1.07% |
| INTEL CORP | 1.03% |
| TIME WARNER INC | 1.03% |
| MERCK & CO. INC. | 1.02% |
| CIGNA CORP | 1.01% |
| STATE STREET CORP | 1.00% |
| TYCO INTERNATIONAL PLC | 0.94% |
| EQUITY LIFESTYLE PROPERTIES | 0.93% |
| JM SMUCKER CO/THE | 0.93% |
| KRAFT HEINZ CO/THE | 0.93% |
| DR PEPPER SNAPPLE GROUP INC | 0.91% |
| AIR PRODUCTS & CHEMICALS INC | 0.90% |
| SCHWAB (CHARLES) CORP | 0.90% |
| DANAHER CORP | 0.89% |
| EMC CORP/MA | 0.89% |
| PFIZER INC | 0.86% |
| MEDTRONIC PLC | 0.84% |
| BOSTON PROPERTIES INC | 0.82% |
| EDISON INTERNATIONAL | 0.82% |
| GENERAL DYNAMICS CORP | 0.82% |
| CISCO SYSTEMS INC | 0.81% |
| EDGEWELL PERSONAL CARE CO | 0.80% |
| GENERAL ELECTRIC CO | 0.80% |
| TEXAS INSTRUMENTS INC | 0.80% |
| UNION PACIFIC CORP | 0.80% |
| BECTON DICKINSON AND CO | 0.79% |
| DELPHI AUTOMOTIVE PLC | 0.79% |
| HILTON WORLDWIDE HOLDINGS IN | 0.79% |
| BERKSHIRE HATHAWAY INC-CL B | 0.78% |
| EOG RESOURCES INC | 0.78% |
| CHUBB LTD | 0.77% |
| AGILENT TECHNOLOGIES INC | 0.76% |
| NXP SEMICONDUCTORS NV | 0.76% |
| ANADARKO PETROLEUM CORP | 0.75% |
| HARTFORD FINANCIAL SVCS GRP | 0.75% |
| VALERO ENERGY CORP | 0.74% |
| DOW CHEMICAL CO/THE | 0.72% |
| NEXTERA ENERGY INC | 0.72% |
| ASSURED GUARANTY LTD | 0.70% |
| EXELON CORP | 0.70% |
| FRONTIER COMMUNICATIONS CORP | 0.68% |
| PPL CORP | 0.68% |
| PEPSICO INC | 0.67% |
| DU PONT (E.I.) DE NEMOURS | 0.65% |
| KIMBERLY-CLARK CORP | 0.65% |
| VODAFONE GROUP PLC-SP ADR | 0.65% |
| TOTAL SA | 0.64% |
| AMERICAN ELECTRIC POWER | 0.63% |
| GENERAL MOTORS CO | 0.63% |
| SEALED AIR CORP | 0.63% |
| AMERICAN AIRLINES GROUP INC | 0.62% |
| BALL CORP | 0.62% |
| P G & E CORP | 0.61% |
| CBS CORP-CLASS B NON VOTING | 0.60% |
| REGIONS FINANCIAL CORP | 0.60% |
| FIDELITY NATIONAL INFO SERV | 0.58% |
| MFA FINANCIAL INC | 0.58% |
| CHARTER COMMUNICATIONS INC-A | 0.55% |
| COMPUTER SCIENCES CORP | 0.55% |
| GAP INC/THE | 0.55% |
| KKR & CO LP | 0.54% |
| GOLDMAN SACHS GROUP INC | 0.52% |
| OSHKOSH CORP | 0.52% |
| AMERICAN TOWER CORP | 0.51% |
| FEDERAL REALTY INVS TRUST | 0.51% |
| MANDATORY EXCH TRUST P/P 144A 05.7500 CV PFD | 0.51% |
| QUALCOMM INC | 0.51% |
| CALPINE CORP | 0.49% |
| ALCOA INC 05.3750 CUM CV PFD | 0.47% |
| CME GROUP INC | 0.47% |
| GAMING AND LEISURE PROPERTIE | 0.47% |
| RADIAN GROUP INC | 0.46% |
| CAPITAL ONE FINANCIAL CORP | 0.45% |
| UNITED TECHNOLOGIES CORP | 0.43% |
| KEYCORP | 0.39% |
| LIBERTY GLOBAL PLC-SERIES C | 0.39% |
| WESTROCK CO | 0.39% |
| MICHAEL KORS HOLDINGS LTD | 0.38% |
| NRG ENERGY INC | 0.38% |
| PULTEGROUP INC | 0.37% |
| TIFFANY & CO | 0.35% |
| CENTURYLINK INC | 0.34% |
| COCA-COLA EUROPEAN PARTNERS | 0.32% |
| INVESCO LTD | 0.31% |
| QEP RESOURCES INC | 0.30% |
| WILLIS TOWERS WATSON PLC | 0.30% |
| HALLIBURTON CO | 0.28% |
| SYMANTEC CORP | 0.27% |
| CSRA INC | 0.26% |
| NATIONAL OILWELL VARCO INC | 0.25% |
| AMERICAN TOWER CORP 05.5000 CV PFD | 0.24% |
| AMEREN CORPORATION | 0.20% |
| ALLERGAN PLC 05.5000 CV PFD | 0.19% |
| GENWORTH FINANCIAL INC-CL A | 0.16% |
| OPORTUN FIN CORP P/P SERIES H PFD | 0.14% |
| FRONTIER COMMUNICATIONS 11.1250 CUM CV PFD | 0.10% |
| INGEVITY CORP | 0.06% |
| OPORTUN FIN G-1 PFD CV P/P | 0.05% |
| OPORTUN FIN CORP P/P | 0.04% |
| OPORTUN FIN F-1 PFD CV P/P | 0.04% |
| ARCELORMITTAL-NY REGISTERED | 0.02% |
| WESTERN DIGITAL CORP | 0.02% |
| OPORTUN FIN C-1 PFD CV P/P | 0.01% |
| OPORTUN FIN D-1 PFD CV P/P | 0.01% |
| OPORTUN FIN F PFD CV P/P | 0.01% |
| LIBERTY GLOBAL PLC LILAC - C | 0.00% |
| OPORTUN FIN A-1 PFD CV P/P | 0.00% |
| OPORTUN FIN B-1 PFD CV P/P | 0.00% |
| OPORTUN FIN E-1 PFD CV P/P | 0.00% |
| TOTAL SA-SPON ADR | 0.00% |
Full Portfolio Holdings as of 06/30/16
| NORTHROP GRUMMAN CORP | 3.18% |
|---|---|
| ELI LILLY & CO | 2.53% |
| MICROSOFT CORP | 2.46% |
| EXXON MOBIL CORP | 2.41% |
| JOHNSON & JOHNSON | 2.33% |
| AT&T INC | 2.31% |
| JPMORGAN CHASE & CO | 2.10% |
| COMCAST CORP-CLASS A | 2.01% |
| CITIGROUP INC | 1.91% |
| WELLS FARGO & CO | 1.90% |
| PHILIP MORRIS INTERNATIONAL | 1.49% |
| MARATHON OIL CORP | 1.45% |
| CVS HEALTH CORP | 1.38% |
| L-3 COMMUNICATIONS HLDGS INC | 1.36% |
| ROYAL DUTCH SHELL-SPON ADR-A | 1.33% |
| ALPHABET INC-CL C | 1.31% |
| COTY INC-CL A | 1.27% |
| HONEYWELL INTERNATIONAL INC | 1.19% |
| VERIZON COMMUNICATIONS INC | 1.13% |
| BANK OF AMERICA CORP | 1.12% |
| APPLE INC | 1.10% |
| AMERICAN INTERNATIONAL GROUP | 1.09% |
| ASTRAZENECA PLC-SPONS ADR | 1.07% |
| INTEL CORP | 1.03% |
| TIME WARNER INC | 1.03% |
| MERCK & CO. INC. | 1.02% |
| CIGNA CORP | 1.01% |
| STATE STREET CORP | 1.00% |
| TYCO INTERNATIONAL PLC | 0.94% |
| EQUITY LIFESTYLE PROPERTIES | 0.93% |
| JM SMUCKER CO/THE | 0.93% |
| KRAFT HEINZ CO/THE | 0.93% |
| DR PEPPER SNAPPLE GROUP INC | 0.91% |
| AIR PRODUCTS & CHEMICALS INC | 0.90% |
| SCHWAB (CHARLES) CORP | 0.90% |
| DANAHER CORP | 0.89% |
| EMC CORP/MA | 0.89% |
| PFIZER INC | 0.86% |
| MEDTRONIC PLC | 0.84% |
| BOSTON PROPERTIES INC | 0.82% |
| EDISON INTERNATIONAL | 0.82% |
| GENERAL DYNAMICS CORP | 0.82% |
| CISCO SYSTEMS INC | 0.81% |
| EDGEWELL PERSONAL CARE CO | 0.80% |
| GENERAL ELECTRIC CO | 0.80% |
| TEXAS INSTRUMENTS INC | 0.80% |
| UNION PACIFIC CORP | 0.80% |
| BECTON DICKINSON AND CO | 0.79% |
| DELPHI AUTOMOTIVE PLC | 0.79% |
| HILTON WORLDWIDE HOLDINGS IN | 0.79% |
| BERKSHIRE HATHAWAY INC-CL B | 0.78% |
| EOG RESOURCES INC | 0.78% |
| CHUBB LTD | 0.77% |
| AGILENT TECHNOLOGIES INC | 0.76% |
| NXP SEMICONDUCTORS NV | 0.76% |
| ANADARKO PETROLEUM CORP | 0.75% |
| HARTFORD FINANCIAL SVCS GRP | 0.75% |
| VALERO ENERGY CORP | 0.74% |
| DOW CHEMICAL CO/THE | 0.72% |
| NEXTERA ENERGY INC | 0.72% |
| ASSURED GUARANTY LTD | 0.70% |
| EXELON CORP | 0.70% |
| FRONTIER COMMUNICATIONS CORP | 0.68% |
| PPL CORP | 0.68% |
| PEPSICO INC | 0.67% |
| DU PONT (E.I.) DE NEMOURS | 0.65% |
| KIMBERLY-CLARK CORP | 0.65% |
| VODAFONE GROUP PLC-SP ADR | 0.65% |
| TOTAL SA | 0.64% |
| AMERICAN ELECTRIC POWER | 0.63% |
| GENERAL MOTORS CO | 0.63% |
| SEALED AIR CORP | 0.63% |
| AMERICAN AIRLINES GROUP INC | 0.62% |
| BALL CORP | 0.62% |
| P G & E CORP | 0.61% |
| CBS CORP-CLASS B NON VOTING | 0.60% |
| REGIONS FINANCIAL CORP | 0.60% |
| FIDELITY NATIONAL INFO SERV | 0.58% |
| MFA FINANCIAL INC | 0.58% |
| CHARTER COMMUNICATIONS INC-A | 0.55% |
| COMPUTER SCIENCES CORP | 0.55% |
| GAP INC/THE | 0.55% |
| KKR & CO LP | 0.54% |
| GOLDMAN SACHS GROUP INC | 0.52% |
| OSHKOSH CORP | 0.52% |
| AMERICAN TOWER CORP | 0.51% |
| FEDERAL REALTY INVS TRUST | 0.51% |
| MANDATORY EXCH TRUST P/P 144A 05.7500 CV PFD | 0.51% |
| QUALCOMM INC | 0.51% |
| CALPINE CORP | 0.49% |
| ALCOA INC 05.3750 CUM CV PFD | 0.47% |
| CME GROUP INC | 0.47% |
| GAMING AND LEISURE PROPERTIE | 0.47% |
| RADIAN GROUP INC | 0.46% |
| CAPITAL ONE FINANCIAL CORP | 0.45% |
| UNITED TECHNOLOGIES CORP | 0.43% |
| KEYCORP | 0.39% |
| LIBERTY GLOBAL PLC-SERIES C | 0.39% |
| MGIC INVESTMENT CORP CV 05.0000 05/01/2017 | 0.39% |
| WESTROCK CO | 0.39% |
| MICHAEL KORS HOLDINGS LTD | 0.38% |
| NRG ENERGY INC | 0.38% |
| PULTEGROUP INC | 0.37% |
| TIFFANY & CO | 0.35% |
| CENTURYLINK INC | 0.34% |
| COCA-COLA EUROPEAN PARTNERS | 0.32% |
| INVESCO LTD | 0.31% |
| QEP RESOURCES INC | 0.30% |
| WILLIS TOWERS WATSON PLC | 0.30% |
| HALLIBURTON CO | 0.28% |
| SYMANTEC CORP | 0.27% |
| CSRA INC | 0.26% |
| NATIONAL OILWELL VARCO INC | 0.25% |
| AMERICAN TOWER CORP 05.5000 CV PFD | 0.24% |
| WESCO INTERNATIONAL CV 06.0000 09/15/2029 | 0.24% |
| AMEREN CORPORATION | 0.20% |
| ALLERGAN PLC 05.5000 CV PFD | 0.19% |
| GENWORTH FINANCIAL INC-CL A | 0.16% |
| OPORTUN FIN CORP P/P SERIES H PFD | 0.14% |
| FRONTIER COMMUNICATIONS 11.1250 CUM CV PFD | 0.10% |
| INGEVITY CORP | 0.06% |
| OPORTUN FIN G-1 PFD CV P/P | 0.05% |
| OPORTUN FIN CORP P/P | 0.04% |
| OPORTUN FIN F-1 PFD CV P/P | 0.04% |
| ARCELORMITTAL-NY REGISTERED | 0.02% |
| WESTERN DIGITAL CORP | 0.02% |
| OPORTUN FIN C-1 PFD CV P/P | 0.01% |
| OPORTUN FIN D-1 PFD CV P/P | 0.01% |
| OPORTUN FIN F PFD CV P/P | 0.01% |
| LIBERTY GLOBAL PLC LILAC - C | 0.00% |
| OPORTUN FIN A-1 PFD CV P/P | 0.00% |
| OPORTUN FIN B-1 PFD CV P/P | 0.00% |
| OPORTUN FIN E-1 PFD CV P/P | 0.00% |
| TOTAL SA-SPON ADR | 0.00% |
Prior top 10 holdings
| Top 10 holdings as of 08/31/16 | |
|---|---|
| 1: Microsoft Corp | 2.74% |
| 2: Northrop Grumman Corp | 2.71% |
| 3: Eli Lilly | 2.47% |
| 4: Johnson & Johnson | 2.27% |
| 5: JPMorgan Chase | 2.26% |
| 6: Exxon Mobil Corp | 2.22% |
| 7: AT&T | 2.16% |
| 8: Citigroup | 2.13% |
| 9: Wells Fargo | 2.02% |
| 10: Comcast Corp | 1.99% |
| Holdings represent 22.97% of portfolio | |
| Top 10 holdings as of 07/31/16 | |
|---|---|
| 1: Northrop Grumman Corp | 2.72% |
| 2: Microsoft Corp | 2.66% |
| 3: Eli Lilly | 2.59% |
| 4: Johnson Johnson | 2.34% |
| 5: AT&T | 2.25% |
| 6: Exxon Mobil Corp | 2.23% |
| 7: JPMorgan Chase | 2.10% |
| 8: Comcast Corp | 2.01% |
| 9: Citigroup | 1.92% |
| 10: Wells Fargo | 1.88% |
| Holdings represent 22.70% of portfolio | |
| Top 10 holdings as of 06/30/16 | |
|---|---|
| 1: Northrop Grumman Corp | 3.18% |
| 2: Eli Lilly | 2.53% |
| 3: Microsoft Corp | 2.46% |
| 4: Exxon Mobil Corp | 2.41% |
| 5: Johnson Johnson | 2.33% |
| 6: AT&T | 2.31% |
| 7: JPMorgan Chase | 2.10% |
| 8: Comcast Corp | 2.01% |
| 9: Citigroup | 1.91% |
| 10: Wells Fargo | 1.90% |
| Holdings represent 23.14% of portfolio | |
| Top 10 holdings as of 05/31/16 | |
|---|---|
| 1: Northrop Grumman Corp | 3.01% |
| 2: Microsoft Corp | 2.53% |
| 3: Eli Lilly | 2.39% |
| 4: Exxon Mobil Corp | 2.27% |
| 5: JPMorgan Chase | 2.19% |
| 6: Johnson Johnson | 2.15% |
| 7: AT&T | 2.08% |
| 8: Wells Fargo | 2.02% |
| 9: Comcast Corp | 1.93% |
| 10: Citigroup | 1.81% |
| Holdings represent 22.38% of portfolio | |
Portfolio Composition as of 08/31/16
| Common stock | 95.40% |
|
|---|---|---|
| Cash and net other assets | 2.14% |
|
| Convertible preferred stock | 1.82% |
|
| Convertible bonds | 0.64% |
|
Allocations will vary over time. The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Mutual funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. Capital gains, if any, are taxable for federal and, in most cases, state purposes. For some investors, investment income may be subject to the federal alternative minimum tax. Income from federally exempt funds may be subject to state and local taxes. 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.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.
Sales Charges/Fees
| Breakpoint | Sales Charge | Dealer Allowance | CDSC Liab |
|---|---|---|---|
| $0 - $0 | 0.00% | 0.00% | N |
Mutual funds that invest in government securities are not guaranteed. Mortgage-backed securities are subject to prepayment risk. Capital gains, if any, are taxable for federal and, in most cases, state purposes. For some investors, investment income may be subject to the federal alternative minimum tax. Income from federally exempt funds may be subject to state and local taxes. 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.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.