GLOBAL REAL ESTATE SECURITIES FUND

Fund Overview

Adviser:

Russell Investment Management, LLC

Fund Manager(s):

Cohen & Steers Capital Management, Inc., Cohen & Steers UK Limited and Cohen & Steers Asia Limited; Morgan Stanley Investment Management Inc., Morgan Stanley Investment Management Limited and Morgan Stanley Investment Management Company; RREEF America L.L.C., Deutsche Investments Australia Limited and Deutsche Alternatives Asset Management (Global) Limited, operating under the brand name Deutsche Asset Management (Money managers listed are current as of 12/31/18. 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:

The fund seeks to provide current income and long term capital growth. The Global Real Estate Securities Fund (Russell Investments) is a multi-manager fund that seeks to achieve its objective by concentrating its investments in equity securities of real estate companies (“real estate securities”) located in a number of countries around the world, including the U.S., in a globally diversified manner. The Fund considers a company to be a real estate company if at least 50% of its assets, gross income or net profits are attributable to the ownership, construction, development, financing, management or sale of residential, commercial or industrial real estate.

Asset Class:

Real Estate

Style:

Value, Growth and Market-Oriented

Equity Real Estate Investment Trusts (REITs) may be affected by changes in the value of the underlying property owned by the trust, while mortgage REITs may be affected by the quality of any credit extended. This fund is subject to some of the risks associated with direct ownership of real estate, including market value declines, risks related to general and local economic conditions and increases in interest rates. This fund, however, does not own real estate directly.

Top 10 Portfolio Holdings % of Net Assets

Simon Property Group, Inc.

3.7%

ProLogis, Inc.

2.8%

Welltower, Inc.

2.5%

Mitsubishi Estate Co., Ltd.

2.5%

The Link REIT

2.1%

Sun Hung Kai Properties, Ltd.

2.0%

Essex Property Trust, Inc.

1.9%

UDR, Inc.

1.8%

Equity Residential

1.8%

Vornado Realty Trust

1.8%

% of Total Portfolio

22.9%