Research International Core 

Fund Overview
Adviser: Mason Street Advisors, LLC
Subadviser: Massachusetts Financial Services Company
Objective/Focus: The Portfolio primarily invests in foreign equity securities, including emerging market equity securities. The objective is capital appreciation.
Asset Class: International Stocks
Style: Blend
Investors should be aware of the risks of investments in foreign securities, particularly investments in securities of companies in developing nations. These include the risks of currency fluctuation, of political and economic instability and of less well-developed government supervision and regulation of business and industry practices, as well as differences in accounting standards.
Investing in small company stocks involves a greater degree of risk than investing in medium or large company stocks. Investing in medium company stocks involves a greater degree of risk than investing in large company stocks.
Fund Facts as of 09/30/14
Fund Inception 04-30-2007
First Available for Variable Annuity 04-30-2007
First Available for Variable Life 06-30-2011
Net Assets $453.16 Million
Top 10 Portfolio Holdings % of Net Assets
Novartis AG 3.7%
Royal Dutch Shell PLC - Class A 3.4%
Nestle SA 2.6%
HSBC Holdings PLC 2.3%
Rio Tinto PLC 2.0%
Bayer AG 2.0%
KDDI Corp. 2.0%
Westpac Banking Corp. 1.8%
GlaxoSmithKline PLC 1.7%
UBS AG 1.7%
Total % of Net Assets 23.2%
Download Publicly Disclosed Holdings
Geographic Allocation % of Equities
Europe 61.7%
Asia 28.2%
North America 4.5%
Australia/New Zealand 3.5%
Latin America/Caribbean 2.1%

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. MSA is the principal investment adviser for all the Portfolios in the Northwestern Mutual Series Fund (Series Fund). (Portfolios in the Series Funds are identified by the parenthetical next to the portfolio name.) MSA has engaged and oversees subadvisers who provide day-to-day management for certain of the Series Fund Portfolios. Each subadviser 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, Credit Suisse Asset Management, LLC, 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-VA22 (0309)