Northwestern Mutual

International Developed Markets Fund*

Fund Overview
Adviser: Russell Investment Management, LLC
Fund Manager(s): Barrow, Hanley, Mewhinney & Strauss, LLC; MFS Institutional Advisors, Inc.; Pzena Investment Management, LLC; William Blair & Company, LLC (Money managers listed are current as of 12/31/16. Russell has the right to employ or terminate a money manager at any time and without prior notification, as is consistent with its role as investment manager.)
Objective/Focus: A multi-manager fund that invest primarily in equity securities issued by companies located in countries (other than the U.S.) with developed markets or that are economically tied to such countries. The objective is to provide long-term capital growth.
Asset Class: International Stocks
Style: Value, Growth and Market-Oriented
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 12/31/16
Fund Inception 04-30-1999
First Available for Variable Annuity 04-30-1999
First Available for Variable Life 06-30-1999
Net Assets $355.33 Million
Top 10 Portfolio Holdings % of Net Assets
ING Groep NV 1.9%
ENI S.p.A. 1.5%
Bayer AG 1.2%
Sanofi-Aventis 1.2%
Imperial Tobacco Group PLC 1.2%
Novartis AG 1.2%
Wausau Paper Corp. 1.1%
Royal Dutch Shell PLC 1.1%
Schneider Electric SE 1.1%
Nestle SA 1.1%
% of Total Portfolio 12.6%
Country Diversification % of Equities
United Kingdom 18.6%
Japan 17.1%
Germany 6.5%

*Prior to the effective date of their new names on May 1, 2017, the Multi-Style Equity Fund, Aggressive Equity Fund, Non-U.S. Fund and Core Bond Fund will be known by their new names as the U.S. Strategic Equity Fund, U.S. Small Cap Equity Fund, International Developed Markets Fund and Strategic Bond Fund, respectively.