Asset Allocation Fund

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Fund Overview


Mason Street Advisors, LLC


The Portfolio will follow a flexible policy for allocating assets among 55-75% equity securities, 25-45% fixed income and debt securities, and 0-15% cash equivalents. The Portfolio's strategy is to adjust the mix between asset sectors to capitalize on the changing financial markets and economic conditions. The objective is to realize as high a level of total return as is consistent with reasonable investment risk.

Asset Class:

Flexible Portfolio


Hybrid-Market-Oriented for stocks, High/Medium/Low Credit Quality, Moderate Interest Rate Sensitivity for bonds, and High Quality, Short Maturity for money market.

No investment strategy can guarantee a profit or protect against a loss.

The Portfolio may gain exposure to foreign investments by investing in one or more of the Series Fund's foreign portfolios. Each of those underlying portfolios has its own investment risks, including that it will not perform as expected. In addition, the Portfolio will bear a pro rata share of the underlying portfolios' expenses.

Fund Facts as of 06/30/21

Fund Inception


First Available for Variable Annuity


First Available for Variable Life


Net Assets

$322.3 Million

Top 10 Portfolio Holdings % of Net Assets

Northwestern Mutual Series Fund, Inc.,Select Bond Portfolio


Northwestern Mutual Series Fund, Inc.,Research International Core Portfolio


Northwestern Mutual Series Fund, Inc.,High Yield Bond Portfolio


Northwestern Mutual Series Fund, Inc.,Mid Cap Value Portfolio


Northwestern Mutual Series Fund, Inc.,Mid Cap Growth Stock Portfolio


Northwestern Mutual Series Fund, Inc.,Multi-Sector Bond Portfolio


Northwestern Mutual Series Fund, Inc.,Focused Appreciation Portfolio


Northwestern Mutual Series Fund, Inc.,Growth Stock Portfolio


Northwestern Mutual Series Fund, Inc.,Large Cap Core Stock Portfolio


Northwestern Mutual Series Fund, Inc.,Large Cap Blend Portfolio


Total % of Net Assets


Download Publicly Disclosed Holdings

Sector Weightings % of Equities

Domestic Equity


Fixed Income


Foreign Equity


Short- Term Investments & Other Net Assets


Variable products disclaimer

Before investing in a variable product, you should carefully consider the objectives, risks and charges associated with its investment options. For this and other information about a Contract, you should obtain the appropriate Contract and underlying fund prospectuses by contacting your Northwestern Mutual Financial Representative. Read the prospectuses carefully before you invest. Mason Street Advisors, LLC (MSA) is the principal investment adviser for all the Portfolios in the Northwestern Mutual Series Fund (Series Fund). (Portfolios in the Series Fund 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, Neuberger Berman Investment Advisers LLC and Credit Suisse Asset Management, LLC. All securities are offered through Northwestern Mutual Investment Services LLC, (NMIS), 720 E. Wisconsin Avenue, Milwaukee, WI 53202, 1-866-664-7737. Member FINRA and SIPC. NMIS is a subsidiary of Northwestern Mutual.