Russell Aggressive Equity 

Fund Overview
Adviser: Russell Investment Management Company
Fund Manager(s): Conestoga Capital Advisors, LLC; DePrince, Race & Zollo, Inc.; Jacobs Levy Equity Management, Inc.; RBC Global Asset Management (U.S.) Inc.; Ranger Investment Management, L.P.; Signia Capital Management, LLC (Money managers listed are current as of 09/30/14. Russell has the right to employ or terminate a money manager at any time without prior notification, as is consistent with its role as investment manager.)
Objective/Focus: A multi-manager fund that invests primarily in common stocks of small and medium capitalization companies, most of which are U.S. based. The objective is to provide long-term capital growth.
Asset Class: Small-Cap Stocks/Mid-Cap Stocks
Style: Value, Growth and Market-Oriented
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 04-30-1999
First Available for Variable Annuity 04-30-1999
First Available for Variable Life 06-30-1999
Net Assets $237.45 Million
Top 10 Portfolio Holdings % of Net Assets
Blackbaud, Inc. 0.9%
Iberiabank Corp. 0.9%
PrivateBancorp, Inc. 0.9%
TreeHouse Foods, Inc. 0.8%
Granite Construction, Inc. 0.8%
Red Robin Gourmet Burgers, Inc. 0.8%
Tyler Technologies, Inc. 0.8%
Cantel Medical Corp. 0.8%
Centene Corp. 0.7%
Proto Labs, Inc. 0.7%
Total % of Net Assets 8.1%
Sector Weightings % of Equities
Financial Services 22.3%
Producer Durables 18.4%
Technology 16.7%
Consumer Discretionary 15.7%
Health Care 10.6%

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.

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

NMFN-VA18 (0309)