Form 485BPOS PUTNAM VARIABLE TRUST

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

 

 

We hereby consent to the incorporation by reference in this Registration Statement on Form N-1A of Putnam Variable Trust of our reports, dated as listed below, relating to the financial statements and financial highlights, which appear in each of the Funds’, as listed below, Annual Reports on Form N-CSR for the year ended December 31, 2020. We also consent to the references to us under the headings "Financial highlights" and “Independent Registered Public Accounting Firm and Financial Statements" in such Registration Statement.

 

 

Registration Name	Report Date	Fund Name
Putnam VT Diversified Income Fund	February 12, 2021	Putnam VT Diversified Income Fund
Putnam VT Emerging Markets Equity Fund	February 10, 2021	Putnam VT Emerging Markets Equity Fund
Putnam VT Focused International Equity Fund	February 11, 2021	Putnam VT Global Equity Fund
Putnam VT George Putnam Balanced Fund	February 10, 2021	Putnam VT George Putnam Balanced Fund
Putnam VT Global Asset Allocation Fund	February 12, 2021	Putnam VT Global Asset Allocation Fund
Putnam VT Global Health Care Fund	February 11, 2021	Putnam VT Global Health Care Fund
Putnam VT Government Money Market Fund	February 11, 2021	Putnam VT Government Money Market Fund
Putnam VT Growth Opportunities Fund	February 9, 2021	Putnam VT Growth Opportunities Fund
Putnam VT High Yield Fund	February 8, 2021	Putnam VT High Yield Fund
Putnam VT Income Fund	February 11, 2021	Putnam VT Income Fund
Putnam VT International Equity Fund	February 11, 2021	Putnam VT International Equity Fund
Putnam VT International Value Fund	February 9, 2021	Putnam VT International Value Fund
Putnam VT Large Cap Value Fund	February 10, 2021	Putnam VT Equity Income Fund
Putnam VT Mortgage Securities Fund	February 8, 2021	Putnam VT Mortgage Securities Fund
Putnam VT Multi-Asset Absolute Return Fund	February 12, 2021	Putnam VT Multi-Asset Absolute Return Fund
Putnam VT Multi-Cap Core Fund	February 10, 2021	Putnam VT Multi-Cap Core Fund
Putnam VT Research Fund	February 8, 2021	Putnam VT Research Fund
Putnam VT Small Cap Growth Fund	February 9, 2021	Putnam VT Small Cap Growth Fund
Putnam VT Small Cap Value Fund	February 12, 2021	Putnam VT Small Cap Value Fund
Putnam VT Sustainable Future Fund	February 9, 2021	Putnam VT Sustainable Future Fund
Putnam VT Sustainable Leaders Fund	February 8, 2021	Putnam VT Sustainable Leaders Fund

 

 

 

 

 

PricewaterhouseCoopers LLP

Boston, Massachusetts

April 26, 2021

PUTNAM VARIABLE TRUST

 

Plan pursuant to Rule 18f-3(D) under the

Investment Company Act of 1940

 

Effective September 5, 1997

 

Each series (each a "Fund" and, together, the "Funds") of Putnam Variable Trust (the “Trust”) may from time to time issue one or more of the following classes of shares: Class IA shares and class IB shares. Each class is subject to such investment minimums and other conditions of eligibility as are set forth in the Trust’s registration statement as from time to time in effect. The differences in expenses among these classes of shares, and the conversion and exchange features of each class of shares, are set forth below in this Plan. Except as noted below, expenses are allocated among the classes of shares of each Fund based upon the net assets of each Fund attributable to shares of each class. This Plan is subject to change, to the extent permitted by law and by the Agreement and Declaration of Trust and By-laws of the Trust, by action of the Trustees of the Trust.

 

CLASS IA

 

Distribution and Service Fees

 

Class IA shares do not pay a distribution fee.

 

Conversion Features

 

Class IA shares do not convert to any other class of shares.

 

Exchange Features

 

Class IA shares of any Fund may be exchanged, at the option of the shareholder of record, for class IA shares of any other Fund that offers class IA shares without the payment of a sales charge, provided that such shareholder of record has selected the class IA shares of such other Fund as part of its variable insurance product.

 

Initial Sales Charge

 

Class IA shares are offered at their NAV, without an initial sales charge.

 

Contingent Deferred Sales Charge

 

Class IA shares are not subject to any CDSC when redeemed by shareholder of record. However, variable insurance contracts supported by Class IA shares may be subject to a CDSC.

 

CLASS IB SHARES

 

Distribution and Service Fees

 

Class IB shares pay distribution and service fees pursuant to a plan (the "Class IB Plan") adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940 (the "1940 Act"). Class IB shares also bear any costs associated with obtaining shareholder approval of the Class IB Plan (or an amendment to the Class IB Plan). Pursuant to the Class IB Plan, class IB shares may pay up to 0.35% of the relevant Fund's average net assets attributable to the class IB shares (which percentage may be less from time to time, as described in the Trust’s registration statement as from time to time in effect). Amounts payable under the Class IB Plan are subject to such further limitations as the Trustees may from time to time determine and as set forth in the registration statement of the Trust as from time to time in effect.

 

Conversion Features

 

Class IB shares do not convert to any other class of shares.

 

Exchange Features

 

Class IB shares of any Fund may be exchanged, at the option solely of the shareholder of record, for class IB shares of any other Fund that offers class IB shares without the payment of a sales charge, provided that such shareholder of record has

selected the class IB shares of such other Fund as part of its variable insurance product.

 

Initial Sales Charge

 

Class IB shares are offered at their NAV, without an initial sales charge.

 

Contingent Deferred Sales Charge

 

Class IB shares are not subject to any CDSC when redeemed by a shareholder of record.  However, variable insurance contracts supported by Class IB shares may be subject to a CDSC.

 

 

 

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