Putnam Hartford Capital Manager
Putnam Global Utilities Subaccount
The subaccount seeks capital growth and current income.
The subaccount pursues its objective of growth and income by targeting a wide range of utilities, including natural gas, electric, and communication services companies. By investing in stocks and bonds of well-managed utilities that Putnam believes are priced below their underlying worth, the subaccount seeks consistent performance in all market environments.
Investing in the utilities sectorA dynamic sector: From distribution to power storage, the fund seeks out companies that profit from the growth of and demand for utilities.A diversified approach: The fund may invest in domestic and foreign markets, and companies of different sizes across several industries and varying degrees of regulation.Actively managed: Unlike passively managed ETFs, Putnam global sector funds combine rigorous fundamental research and disciplined quantitative analysis with macroeconomic views.
- Sheba M. Alexander, CFA® (Investing since 1995)
Risk Characteristics as of 01/31/14
|Standard Deviation (3 yrs.)||10.72|
Quick Facts as of 02/28/14
|Fiscal Year End||December|
|Asset Class||Putnam Hartford Capital Manager|
|Subaccount Status||Open to new investors|
|Number of Issues||41|
|Turnover (fiscal year end)||32%|
The fund concentrates its investments in one region or in one sector and involves more risk than a fund that invests more broadly. 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.
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.