0000928816-15-000924.txt : 20150713 0000928816-15-000924.hdr.sgml : 20150713 20150713151107 ACCESSION NUMBER: 0000928816-15-000924 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20150713 DATE AS OF CHANGE: 20150713 EFFECTIVENESS DATE: 20150713 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM VARIABLE TRUST CENTRAL INDEX KEY: 0000822671 IRS NUMBER: 046649095 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 033-17486 FILM NUMBER: 15985436 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002551581 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CAPITAL MANAGER TRUST /MA/ DATE OF NAME CHANGE: 19920703 0000822671 S000032103 Putnam VT Absolute Return 500 Fund C000099977 Class IA C000099978 Class IB 497K 1 a_vtar500sumsupp.htm PUTNAM VARIABLE TRUST a_vtar500sumsupp.htm
Summary Prospectus Supplement  July 13, 2015 

 

Putnam VT Absolute Return 500 Fund
Summary Prospectus dated April 30, 2015

The section Your fund’s management is supplemented to reflect that the fund’s portfolio managers are now James Fetch, Robert Kea, Robert Schoen and Jason Vaillancourt.


295839 7/15 

 

GRAPHIC 3 vtar500sumsuppx1x1.jpg GRAPHIC begin 644 vtar500sumsuppx1x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`!`0$! M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0$!_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@` M*@"3`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`_M"_;,_;B_9J_8&^$5[\:/VF/B%9^#/#0G;3O#NB6L1U;QOX M^\0%4,7AKP'X3MG74O$6KL)(Y;MXA#I6AV+2:SXDU31M#MKO4K?^13XP_P#! MX9XQD\1WUM\`?V,_#5KX1M[M5TW6?C#\1]4O_$>K6`A.^:^\->"]+TW3/#MV M]PRA;:W\5^*(8X823=RO<@6GY@?MZ?M`ZY_P5L_X+4Z7\.O$^NW[_LZ^"/CC M/\%?".BIJ]U#HGAGX`_"O7KJ[^-'Q"TT6LBQVNJ^,O#?A+QC\1=1U6)8]4>R M'A_0[B_:R\-:1]C^@OA[XD^&WC+_`(*?VG[&/P"_X)[?\$O[/PKXXTSQ'XV^ M"GQ&^)?P6_:-^*#W?P4\9?LS:O\`M'_#?4?&VAM^UC!X<\1:OK?P=U71K36] M;LM)L[.UUB^G\4Z1I-DUI9V$(;J$8_$N9\O.U>RBM.VK?](_4G]D3_@[C^#O MC[QAIG@W]L/]GO4O@7I6J36EG'\6_AKXGO?B1X3TNYG$PGN_%?@J[T#2?%NB MZ)`Z0`7WAR^\=ZB3\1:#JUM'>:;J^CZK82SV=_87MM+'-!<6\KQNC#!R"! M_F@?L^K\#/V^?V;/VN-/\1_L-_LH_`'QSI/A>T\)_LO^-/V;_"_QT\.^,-=_ M:5M_AQ\9?VA](\'WFI?$?]H#XC^&;OP]X@^'/[-WCSP;JEBWAUI5U_QYX*CD MU+29]1TVYD_5+_@TG_;H\6S>*?BY_P`$_/&FJWVJ>$(?">J?';X)"[$[ M_3]?TG2_B?X1LIIKQI;?3_$LGB?1_&6F:59V*V-KJFE^-M4GGCO==*W(*<%: M3BG%QM>-[Z/9I[^M]-^Q_G66JZIJEOX=^(>I:E+H45R+"WO[M_[/<$J:<5 M)S4>:Z2:ZIVWN?ZI]%?P]?\`!%S_`(+V^/\`X>?L:?M>W_[;FK?$S]H#2/V. MM"^#GC7P9XET^33/$/Q>UKP)\4?BCX>^"MYX4U;7/%&J:#;>)6\)>+_%?A/6 MM/UKQ7XDN/$5QHFKZ_8O?WT&AZ)81_TC_P#!,G_@JK\$O^"IOA'XJ^,O@IX! M^*?@+3OA)XC\.^&=U@@T^2.X:\ MN+242R((X9$W.`B4)1O=:)V;6UVD_P`FC]/J*_!']DW_`(.$OV5OVOOVT?#/ M[#W@/X/?M!>'/B3XI\1_%'PS9^*/%VE_#F'P/;WOPH\'>-_&FNSW-UHWQ#U? M7A:W^G^!-3M=):+09)9+R[L%O(;.![B:W_B._P"",O''_"4?\`"3?"KQSX/\-?\4M\ M0?']AX0U3^Q/%_B#0/$7_$WNXOL7]D?VC8>9J=I91N%1IRDGT:2:3W=[VM]Q M_JOT5_._^TY_PJ>+M*T30/$W]K_`!+TD0^*[";P=?R:K!I9U32(XKFS^R:O=NTRP_-? MQ3_X.V?V(?!VK^#K'X??!+XZ_%/3]9\)^#_$GBW5K>3P=X47P=J7B?0K'6]4 M\%PVVI:O?'Q'XH\%2WQT#Q*UM/I_AQ_$%CJ%OH?B'5].AAU2X!NH?\`!2_1+CXB^(/V>=%L$EU_2]#\'+>_$_0-:7QC M8^`+WPKJWA*35K>RM-9TWQ7J-G97MV^O#PVNG7$'B6'7YO"\\.LR?BFO_!W[ M^QB=16)OV7_VGAI'VD(U\LGPI;419[\&==+/CI;9KD)EA:'6%B+_`"&]`_>` M$H2=[1;L[/3KV]3^MZBOR[T7_@KM^R-XX_8%^)7_``42^%6J>*OB9\'OA)82 M2>/?!^BZ38:5\4_#/B"UO-!M=1\%ZUX;\0ZMIFFZ?XEL8O$>EZ@OF:X^AZGI M=S;ZIHFM:GIUW:7<_P"4T/\`P=K?\$_KKX?>-_%4/PE_:2L_%OAR_P#"VG^% MOAQK.@>`[;5_'Q\0+X@DU34].US2/'.O>']$T3P;Q+H4 M7AS1M>`UB32`%"3O:+T=GIJGYH_J=HK^9CX'_P#!U)_P3R^(WPS^)OC/XI:) M\4_@9XP^'6E6FJZ;\--7TO3_`!IJWQ3%_=C3X-+^&6L>';B+3K_6[:[DM?[6 ML_%L?@ZVT^QNAJZ7]WI.GZU>:7E_LJ?\'3?[&W[1OQZ\(?!#Q9\(?BU\#+?X MB^)].\'^"?B)XMU+PCKWA4:[K=XFGZ#;^-4T>_AO?"5OJU]/:Z>NHVJ>(]-T M^\NHGU6\L=+2ZU2W`Y)Z^Z]-]/F?T]T444$G^7!^P;X#_9,^#'[*M*\'?M/\`[-?@'XMZWX.U7QP++QEXXN/%OP=^)GB3Q)K%K;?V MGI?BZ\^'.I^*K?0=4O\`3+'1]9N/$>L2W^L:;?KH^EZ[^MW[*WAG]CW6_P#@ MLA_P2N\%_L8?M,ZE^U=J'P<_9-_:&^#'QC^(T?@#4O"/ABPT#PE\!/CYHWP7 MUB6]O$4ZGK,7ASXA:5\//$,>F1W.EZ=:^#O"$L5V=4UW4]*TGZ)_X.&_^"%/ MQ#^/OC37/V\/V,O"MSXQ^)&IZ98+\?O@?H<*-XA\9OX?TT6%I\4/AW9O,G]L M^*$T.QT[2/%'@C3X_P"U/$0TVQUKPW9ZGXENM7L]6_GV_P""?_\`P5S\3?\` M!*C2]1\&^'?V"/V>]0^/FE7?B30O%OQF^)NA^/-`^/+:3JVJQZG-X*URXN-0 MCO/#VGZ<\-E92Z-HUGX>M+^VTO2)=:TV]U2S;4K@.CXU>#;ER\KC=*UXV;UL MVNWGUM='V?\`\$P+W_@F)!^S#^R/K'Q8_P""BNJ?LP?&;]G7]KOQ3^U1\2?A M?KWPNU*\L_'_`(RMG^'VA>"M$.K61U2#6_AW:?#CP'>Z,$TZX2ZU.;XG?$73 MO$6AI"VEV@Z7_@W;^&GPVUS_`(+;_%[Q%^R]J/BWQ!^S3\*/A]\>=;\%^*/$ M_AZ]T2_OO`6NZWH?@CP5::K;7FIW]WIT]_)XCBO-#AUNZ?Q)JFDZ)+?ZKI&F MZE%J]MI'Y+?&SQ9\6/\`@L)^TUHC_LL?L`?#OX??%37(;Z7QAX8_9=\->)8; M#QCX@\0Z[-?7WQ#^)E_K.L?\(1X1MDN+@)>^*K^#PEI<*M?U!KBU; M3?\`0)_X(H?\$H])_P""7'[.>K:'XJU31_%W[1GQCO\`2O$WQN\7Z(IET.P? M1[:ZM_"WPX\(7MQ86&HWGA3P;#J&J7#:CJ,"7>N>)M<\0:LL-EI<^D:3I8$V MHQE=OFG]BZ=KN[NTONO^)_/W_P`'CW_(X?L`?]BU^TE_Z=/@C7Y9_!_XB?\` M!>W]IK]B#P)^Q)\!O@E\>=1_9`U?P1/X(;@WFB7 M'[0'B/0-*TC5_#][K&H75MJT.D^,[(:KIL.I:?K#WF@VVL6X_J?_`."]'_!+ MO4_^"F'Q0_8Q\&>&/VGO@#\#/'VBZ3\?-/\`!'P^^+.MW%OXX^,,D]K\._$W MBA_AAX6T]FUKQ4G@#0?"[:OXS_LBROFT/2]3LM1U`6MDQG/ZY_\`!/7]G?5/ MV,/V-_V?_P!E7QKXQ\+>*?&/P<\!76C:OK'AZ6XM=-U:`^(]L6H)#++=6R)'<0S)YCJH=@E32A!63:;=I)Z:O7HG]_Y'\:[\4?V-J&L>'+:VT/PW;Z5J-U/'J5Q/](?\&AWQ7^& M_A/X2?MW^'_%7C7PYX7U+P]XC^%GQ(UA/$>K6>B6UEX&A\-^-M/O_$\E[JK,8=%6XTZ34WM8]3L&N/ZQOVO?@#\+_P!L']EWXO\`[.GQ M+URWT[P%\;?!E[X1D\26EQILTNC:I-+#J7A?Q/HS7LG]G7NK>&/$VFZ5XDTJ MVF=H+B^TB&.4&(OC^)7P+_P:*?M+7/QQ3PU\0_VJOV?+?X(:=J4-WJOB;P0? M&^I?&74/"YN&*):_#+6O"EAX:\/ZY?VT<<4L]]\0]:T?17U"TO+:3Q5Y%QIQ M`4E.,E.5FYWN$BN(&FM+B*1H9XXYHBQ25$=64?-_P#P0H^# M_P`)_CY_P54_97^$GQP\#^&/B1\+_%[_`!KB\2>"O&5E#J7AS7)-'_9V^+GB M'0([^RG*Q7#V7B;2=&U*P0G<-2L[-XP9%0'^G_\`X)D?\&\/Q,_82_X*'_!_ M]J/4_P!J#X)>.O!?PKU7XO10^`=%;7Y/B#?V'C;X3?$CX;:-:R3W&F:;I4NJ MZ3+XNL;_`%N1+:RAECT^_-K:PLT,"_&G[8G_``:B_&Z[^//C/Q?^SE^TA^S3 MX?\`@S\0/&^N:[X:\/?&_6?'7@#Q3X.3Q%J\^IP>"=)B\+>`?'NB^+8=#AN9 M;'2KX:CX>N[VTM;5)]+@D,MQ07SP;:4K)P44VGHUS>FNM^WF?(G_``=1^#_` M?P]_;E_9B\"?"[1M#\.?#GP?_P`$_?A#X;\$:!X96%/#NB>&-&^-O[2%AHVE M:)';O)!'IEA8P0VMG%"[1QP1)&AVJ!7T)_P4B_X)M_L>?!O_`(($_L,?M3?# M+X3V?A+X^:_X1_98\8>,?B18:GJ4^N^.K_X^?"D^,/']CXN:_N+NWU/21XBU M*.^\,VL4-I+X6@TRPTK1;FUT9]2T[4?NW]OG_@V^^-O[2=G^QBNB?M/_``0\ M%67[,O[#7P-_9'UN]\::5XMLE\5>+/A9K/Q&UC4?$NBK:0745MH^K6_BZ!=/ ML;NY.I(=/O'GC5-AK]0?VR/^"7?CO]K#_@D9^SI_P3Z\$_&+X8Z5XQ^!W@_] MF;PIXA^)>H#6;_P1J-U\!/AE:>#]>N-/ATFWNM4A36+J*._TZ*^BMY+>PF5[ MWRY`L;A/.DJ:4G[LES;K2_XZ=-3^:_\`X)O_`+?/PA_8=_X(%_'T_%_X0V'[ M1$?QV_;O^*GP9\,?!?Q%JT^D^%/$D-]^SE^S[K^O77BR_MX[C4+3PCHMO`;F M_M]&A&HW^K:GIUE;W&FO?S:M9?//Q0N?VK?VM_\`@G?\2_VB-)_X(L_\$ZOA M5^R3'H.OZEX=_:B_9^^'GA/X'_%_P,_@#QFFDW_B6PUC4?CA=_$#XA:3I>I: M+K7@_P`0V3?#^^TKQ+?M?0Q21W-@]L/VOT#_`(-K]8U#_@F%J/[''C3]I3X8 M#XU6G[7/BG]IGX)_%3PSIFK7G@6X7Q-\(_AQ\+=6^&WB2SU-;/7)K'7?^$(G MU&]U/PXMS=Z7J%GX:OHK35X;+4]$O_FGP3_P;L?\%.A^S7XB_9.^.O\`P4?^ M&'P^_9]L;J_\0_#KX"^#/'7Q+\3?#7Q)XN?7X-?-UXJM?$7A'X>G3?"5KXBD MD\:QZ-:Z3XJAF\7)#K"Z1H6O7+:_;@^:%VTU?GNV^;X>\4K:_P!/2Q^8_P#P M2LU+49?^"0?_``7ST>6_O9-)L?AE^R/J5CIHZKXN^,EKJE_:V+2& MVM[W4K;1M'M]0NH8DGO(-*TV&XDDCL;58OH[_@V%_8`_9+_;?N_VZ+O]J+X1 MZ3\63\._"_P.\*^";;7+_5K>T\-V_P`6F^-+>+=:TR#3;ZR$'BA1\/?#B:%X MB!.I>'U74#I4UN^HW+-^M'['O_!OQ\:/V:/V'O\`@I)^SOXA_:.^"/B+4?VW M?!/P)\.^#?&VDVOBNU\*>#&^%GB/XA:GJE_XEFOK!9[JVU2+QK:0:8-*68_: M+.=+AHEDB>OM+_@A9_P2+^)7_!*6Z_:DLOB7\9OAE\5;WX\V_P`#[O1;3P!; M:_976@VGPQ;XNI?W.K6^OVUK+);ZL_Q%T]-.FM$DC5M/O%F92\`8%*<6JEGK M)QMHU>R5^FFSW/XF?^"2/[*GP=^./_!8?X(_LM_&7P\/B'\(H_B9\=+#7/#V MJW%S9P^*8/@]\,/BQXT\-V^N?V5/9R36%[K_`(&T676]-CE2RU2Q-YI=W%+8 M7<\#Z?\`P7I_9E^#W['_`/P4S^+7PQ_9[\,1_#SX=R>'?AEX]T3P?I-S<_V3 MX3U;Q1X0TR_UFT\-&>66\L-*EUJ&ZUBRL3=2Q:5-J$UEIGV32K;3[&T_IS_X M)]_\$#/BM^R!_P`%.?`O[:_BS]I[X!^+?#GACQU\=-?$_P`":7I=K)J5I;6#7NE:GX]LIKU)#&TT-C=16Z&X>&,V/^"OO_!`#XP_ M\%!/VW==_:-\*?M*?`SX7:3XX\)^`?!_A_P=X\A\4/XGOK_P=X=@TJ]>V33; M)[:\-S,CRP6]D]S,D&QY@CL40'[1FJ1_7'1110JX%K>V-C M>6P'$%U9VMQ%MFMX73V2B@#DO!W@'P)\.]+.A_#_`,%>$O`NBF4SG2/!WAS1 M_#&EF8C!F.GZ)9V-H92.#(8=Y'&<5UM%%`'X\_MG_#+XD^*?^"M/_!%?XC^& M/A[XX\1_#SX5_P##QO\`X6?X]T'PGKVK^"_AQ_PG'[-7A;0?!7_">^*=/L+C M0_!__"8:Y;W&C>%O^$AOM._X2#58)M.TG[7>1/"OYN_\%8?V*OV_/C/_`,%2 M]&_:0_8SA\2^$[[X1?\`!-5[#PUXRN-+6X^&GQ8\>V/QP^*Z^+?V7_%5Y-<1 M6@NOB%\*_'NIWEE;7:HD.JIX>O(=1T&\2U\1:-_51104I-6T6B<=5=--M[?, M_"CP9^P5XN^/O_!!CX:_L4?$SPOJ?@'XSVW[+'A.QT#2O$:W6B:[\/?CQ\/( MXO%/P[N[V>UFAOM*ETKQUHFC1ZJ]K<*9]%GU&RD^T65[/!/I?\$7O@+^TE;Z M7^T3^V]^W%X(U/P)^UW^UIXM\&Z#KWA37+>^L]3\'?"3X"^#M-^'?@'2CIM_ M?7O]E3^)=4M?$WB_4EMA"-6@O]#U"Z,TBPB#]Q:*!=_X MZO\`@GK^R#\>_A;_`,%8_&_Q*^)W[*/Q(T;PSK/[9/[9'CS0_BOJW[&OPYU' M18_"'CP_%5O`_B2+]K6\^..G_$?PII.J?VII\]EI&G?!+6[.\COH_#CZA%8> M)K[5=(]D_P"#A[]CCXW?M'_%G]GKQU\(/V:_C1^T/>>`_A9\0/#,&@Z3X'\% M_$_X$ZS?^,=72.Z\(^,M*?XL_#+XI?";Q!>6UM9ZIM=` M=]9TZ>\T3^K&B@?.^92TNO7S\[]>Y^57[;/[+\W[4/\`P2E\=?#+XL_L\>"O M$WQVT#]D+Q/XJ^'_`,'O#EJOBG2/AW^U=I7[.'BOP_X4L/A-<2N6N-2\)>,? M$&I>%_`>K+(9IK6X@=7)N"U7OV$_V5=$_9L_X);_``U^$OA3X-6?PJ^)?BO] ME#P;X@^,W@K2=%73-?US]HW7?V=_"'AGXB:GXILH2[W?CS4]?T*VTG6YF+33 MWNG1PG)C&?U'HH%=VMTO<_B$_8]_X)'_`+?7P4\2_P#!)SXH_$GQ=\4O'/PS M^$7[07PNU_1?V<[WP\8;C]EO2?B5X6\9>+/VC]<\>JJ"2SL--^)VA>#M-\.7 M0N+R&+2_$5^9H[%_,>[^Y?\`@X,_96^/?Q^_:)_X)_>-OA7^S_XZ^.'@7X7: M!^TO;_$EO"?P"\+_`+2EAX?G\8Z1X`L?"<6L?"?QK\0_A5X7\3/J6HV%Q+8K MJ?CO1#HKZ?)XGL_[2U#1+/1]1_J6HH'SOFYM+I-??>_YOU>KN[GX5?M-?`OX MH>._^""'BOX!_#GX-^+XOBQJO[+O@CPEH_P:L_A?I/PT\7KXELM>\+OJ.CP_ M"7PUXH\::'X'N#):7VH?\(II'B_Q'IF@VA-K;ZY?VUL+M_"?^"4O[&W[:_[+ MG_!0/XRZ?^TI>>(/B?\`"/P+^Q9\,_@;^SI^T+J6F+;OXQ^&V@_%+4_&_A;P M1XRNX[JX/_"R/A[:>*=6\(ZM;W26T\VC^'-*OH%O+.6'4KS^DNB@5]&M-?OW M3T^[\S^=C0O^"8OPSL_^"\NM_'P_LC^'8/V?[3]CFS^+.B?$=O",(\&P_MT0 M?M1Z!XT7QQ9Z@SD?\+@C\/K?:[_::J;@6@GF+;@PKXN_X+E?L8_M-_%K]NSX M9?'W]GO]D;XJ_M.Z]X?^%GP]\$Z+X;\>^%/A_P#$#]E37[S3_B%JGB:]M[O5 M[+XU?#CXH_`K5="EFT^_U7Q(D5I;>+Y3<:,^H:/X6N==U'5_Z^**!J;33T=E M;6^WW^15L30PVUV;6W-U;V[^9;P7)A0SPP/@;X8I=R1/@;D53@9Q15 %JB@D_]D_ ` end