Northwestern Mutual

Russell LifePoints® Variable Target Portfolio Series Moderate Strategy Fund

Fund Overview
Adviser: Russell Investment Management, LLC
Objective/Focus: A broadly diversified fund of funds, investing in a combination of underlying funds consisting of approximately 35-45% equity (U.S., non-U.S., including real estate) and 55-65% fixed income. The objective is to provide high current income and moderate long-term capital appreciation.
Asset Class: Value, Growth and Market-Oriented
Russell Investment Group, a Washington USA corporation, operates through subsidiaries worldwide.

Each of the Divisions identified as a Russell LifePoints Variable Target Portfolio Series Fund (LifePoints Fund) is a fund of funds and diversified its assets by investing, at present, in other mutual funds (the "Underlying Fund"). Each LifePoints fund seeks to achieve a specific investment objective by investing in different combinations of the Underlying Funds.

LifePoints® and the Russell logo are registered trademarks and service marks of Russell Investment Group.

No investment strategy can guarantee a profit or protect against a loss.
Fund Facts as of 9/30/16
Fund Inception 04-30-2007
First Available for Variable Annuity 04-30-2007
First Available for Variable Life 06-30-2011
Net Assets $113.38 Million
Underlying Funds % of Net Assets
RIF Multi-Style Equity Fund 0.1%
RIC Russell U.S. Defensive Equity Fund 0.0%
RIF Aggressive Equity Fund 4.1%
RIF Global Real Estate Securities Fund 1.0%
RIC Russell Commodity Strategies Fund 3.1%
RIC Russell Global Infrastructure Fund 3.0%
RIC Russell Global Equity Fund 6.1%
RIF Non-U.S. Fund 6.1%
RIC Russell Emerging Markets Fund 6.6%
RIF Core Bond Fund 23.0%
RIC Russell Global Opportunistic Credit Fund 16.9%
RIC Russell Investment Grade Bond Fund 12.8%
RIC Russell Unconstrained Total Return Fund 5.1%
RIC Russell Multi-Strategy Income Fund 10.2%
RIC Russell U.S. Dynamic Equity Fund 1.9%
% of total portfolio 100.0%