International Equity 

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Fund Overview
Adviser: Mason Street Advisors, LLC
Sub-adviser: Templeton Investment Counsel, LLC
Objective/Focus: Primarily invests in stocks of non-U.S. companies. The objective is long-term capital growth.
Asset Class: International Stocks
Style: Value
Overseas investments can pose more risks than domestic investments. Unit values are subject to fluctuations in foreign stock markets, currency values, interest rates, government regulations and political conditions.
Fund Facts as of 12/31/11
Fund Inception 04-30-1993
First Available for Variable Annuity 04-30-1993
First Available for Variable Life 05-03-1994
Net Assets $1.22 Billion
Top 10 Portfolio Holdings % of Net Assets
Samsung Electronics Co., Ltd. 2.7%
Roche Holding AG 2.6%
GlaxoSmithKline PLC 2.5%
AIA Group, Ltd. 2.2%
Royal Dutch Shell PLC - Class B 2.2%
Taiwan Semiconductor Manufacturing Co., Ltd. 2.1%
China Telecom Corp., Ltd. 2.1%
Sanofi 2.0%
China Mobile, Ltd. 1.9%
DBS Group Holdings, Ltd. 1.9%
Total % of Net Assets 22.2%
Download Publicly Disclosed Holdings
Geographic Allocation % of Equities
Europe 59.1%
Asia 35.6%
Latin America/Caribbean 3.3%
North America 1.4%
Australia/NewZealand 0.6%

You should carefully consider the investment objectives, risks, expenses and charges of the investment company before you invest. Your Northwestern Mutual Investment Services Registered Representative can provide you with a contract and fund prospectus that will contain the information noted above, and other important information that you should read carefully before you invest or send money.

Mason Street Advisors, LLC (MSA), a wholly owned company of Northwestern Mutual, is a federally registered investment adviser. Mason Street Advisors, LLC (MSA) is the principal investment adviser for all the Portfolios in the Northwestern Mutual Series Fund (Series Fund) (NMSF). (Portfolios in the Series Funds are identified by the parenthetical next to the portfolio name.) MSA has engaged and oversees sub-advisers who provide day-to-day management for certain of the Series Fund Portfolios. Each sub-adviser may be replaced without the approval of shareholders. Please see the prospectus for more information. Additional fund options are advised by Russell Investments, Fidelity Investments® and Neuberger Berman Management, LLC.

All securities are offered through Northwestern Mutual Investment Services LLC, (NMIS), Subsidiary of Northwestern Mutual and member FINRA and SIPC.

NMFN-VA20 (0309)