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 9/30/17. 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 9/30/17
Fund Inception 04-30-1999
First Available for Variable Annuity 04-30-1999
First Available for Variable Life 06-30-1999
Net Assets $423.57 Million
Top 10 Portfolio Holdings % of Net Assets
Enel S.p.A. 1.3%
Roche Holding, Ltd. 1.2%
Deutsche Boerse AG 1.1%
Bayer AG 1.1%
Samsung Electronics Co., Ltd. 1.0%
BNP Paribas SA 0.9%
Tencent Holdings, Ltd. 0.9%
British American Tobacco PLC 0.9%
ENI S.p.A. 0.9%
GlaxoSmithKline PLC 0.9%
% of Total Portfolio 10.2%
Country Diversification % of Equities
Hong Kong 21.5%
Japan 16.0%
United Kingdon 14.8%
South Korea 14.6%
Taiwan 10.0%

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

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