Release Date: 12-31-2015
Putnam VT Equity Income Fund — IB Shares
Investment Strategy from investment’s prospectus
The investment seeks capital growth and current income. The fund
invests mainly in common stocks of midsize and large U.S. companies,
with a focus on value stocks that offer the potential for capital growth,
current income, or both. Value stocks are issued by companies that the
advisor believes are currently undervalued by the market. It may
consider, among other factors, a company's valuation, financial
strength, growth potential, competitive position in its industry,
projected future earnings, cash flows and dividends when deciding
whether to buy or sell investments.
Category Description: Large Value
Large-value funds invest primarily in big U.S. companies that are less
expensive or growing more slowly than other large-cap stocks. These
funds often feature investments in energy, financial or manufacturing
sectors.
Operations
Fund Inception Date
05-01-03
Initial Share Class Inception Date
05-01-03
Advisor
Putnam Investment Management, LLC
Subadvisor
Putnam Investments Limited
Fees and Expenses as of 04-30-15
Gross Prospectus Expense Ratio
Net Prospectus Expense Ratio
Waiver Data
—
Type
—
0.83%
0.83%
Exp.Date
—
%
—
Portfolio Manager(s)
Darren A. Jaroch, CFA. B.A., Hartwick College. Since 2012.
Walter Scully, Certified Public Accountant. M.B.A., University of Chicago
(Booth). B.A., Ohio State University. Since 2012.
Portfolio Analysis as of 09-30-15
Composition as of 09-30-15
U.S. Stocks
Non-U.S. Stocks
Bonds
Cash
Other
% Assets
89.29
6.88
0.00
1.81
2.02
Morningstar Style BoxTM as of 09-30-15
Top 20 Holdings as of 09-30-15
Eli Lilly and Co
Northrop Grumman Corp
Cigna Corp
JPMorgan Chase & Co
Citigroup Inc
% Assets
2.87
2.66
2.21
2.20
2.08
Statistics as of 09-30-15
P/E Ratio
P/B Ratio
P/C Ratio
GeoAvgCap($mil)
••
••
•
Exxon Mobil Corporation
Wells Fargo & Co
Johnson & Johnson
Comcast Corp Class A
Coty Inc Class A
2.05
1.99
1.92
1.88
1.67
CVS Health Corp
Apple Inc
State Street Corp
Verizon Communications Inc
American International Group Inc
1.50
1.37
1.35
1.34
1.27
Philip Morris International Inc
Google
Royal Dutch Shell PLC ADR Class A
AstraZeneca PLC ADR
Marathon Oil Corp
1.25
1.24
1.23
1.22
1.13
113
—
31.00
470.94
Total Number of Stock Holdings
Total Number of Bond Holdings
Annual Turnover Ratio %
Total Fund Assets ($mil)
Volatility Analysis
% Mkt Cap
42.31
34.58
20.26
2.85
0.00
Giant
Large
Medium
Small
Micro
Stk Port Avg
14.98
1.70
7.93
43,316.44
Risk Measures as of 12-31-15
3 Yr Std Dev
3 Yr Sharpe Ratio
3 Yr Alpha
3 Yr Beta
3 Yr R-squared
Morningstar Sectors as of 09-30-15
Cyclical
Basic Materials
Consumer Cyclical
Financial Services
Real Estate
Port Avg
10.58
1.22
-1.43
0.97
95.79
S&P 500
17.22
2.34
10.18
73,740.62
Category
16.89
1.85
8.86
81,718.72
S&P 500
10.62
1.38
—
—
—
Category
11.00
1.06
-2.92
0.99
91.19
%Fund S&P 500 %
32.87
31.26
2.13
2.64
8.71
11.25
18.95
15.16
3.08
2.21
Sensitive
Communication Services
Energy
Industrials
Technology
39.43
7.41
9.28
11.47
11.27
40.11
4.20
6.50
10.83
18.58
Defensive
Consumer Defensive
Healthcare
Utilities
27.70
7.31
15.15
5.24
28.64
9.99
15.66
2.99
Investment
Low
T
Moderate
S
Notes
High
Category
In the past, this investment has shown a relatively moderate range of
price fluctuations relative to other investments. This investment may
experience larger or smaller price declines or price increases depending
on market conditions. Some of this risk may be offset by owning other
investments with different portfolio makeups or investment strategies.
This material is authorized for client use only when preceded or
accompanied by a Disclosure Statement, a product prospectus, a fund
prospectus and/or informational brochure containing more complete
information. These can be obtained from your investment professional
and should be read carefully before investing or sending money.
NOT A DEPOSIT — NOT FDIC INSURED — NOT INSURED BY ANY
FEDERAL GOVERNMENT AGENCY — NOT GUARANTEED BY THE
INSTITUTION — MAY GO DOWN IN VALUE
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