GOVERNMENT MONEY MARKET FUND

Fund Overview

Adviser:

Mason Street Advisors, LLC

Subadviser:

BlackRock Advisors, LLC

Objective/Focus:

Invests in high-quality money market instruments and other debt securities with maturities generally not exceeding one year. The objective is to generate maximum current income consistent with liquidity and stability of capital.

Asset Class:

Cash

Style:

High Quality

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Fund Facts as of 03/31/18

Variable Annuity Fund Inception

12-31-1981

Variable Life Fund Inception

07-01-1984

The original Variable Annuity and Variable Life funds merged on 05-03-1994.

Net Assets

$427.8 Million

Download Publicly Disclosed Holdings April 2018

Download Publicly Disclosed Holdings March 2018

Download Publicly Disclosed Holdings February 2018

Download Publicly Disclosed Holdings January 2018

Download Publicly Disclosed Holdings December 2017

Download Publicly Disclosed Holdings November 2017

Visit the SEC site to obtain the most recent 12 months of publicly available information.

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), Suite 600, 611 E. Wisconsin Avenue, Milwaukee, WI 53202, 1-866-664-7737. Member FINRA and SIPC. NMIS is a subsidiary of Northwestern Mutual.