Fund Overview

Adviser:

Russell Investment Management, LLC

Fund Manager(s):

Ancora Advisors, LLC; Boston Partners Global Investors, Inc.; Calamos Advisors LLC; Copeland Capital Management, LLC; DePrince, Race & Zollo, Inc.; Jacobs Levy Equity Management, Inc.; Penn Capital Management Company, Inc.; Ranger Investment Management, L.P. (Money managers listed are current as of 03/31/21. Russell has the right to employ or terminate a money manager at any time without prior notification, as is consistent with its role as investment manager.)

Objective/Focus:

A multi-manager fund that invest primarily in equity securities of small capitalization companies, most of which are U.S. based. The objective is to provide long-term capital growth.

Asset Class:

Small-Cap Stocks/Mid-Cap Stocks

Style:

Value, Growth and Market-Oriented

Investing in small company stocks involves a greater degree of risk than investing in medium or large company stocks.

Investing in medium company stocks involves a greater degree of risk than investing in large company stocks.

Fund Facts as of 03/31/21

Fund Inception

04–30–1999

First Available for Variable Annuity

04–30–1999

First Available for Variable Life

06–30–1999

Net Assets

$262.45 Million

Top 10 Portfolio Holdings % of Net Assets

BioLife Solutions, Inc.

0.8%

Avid Bioservices, Inc.

0.7%

MDU Resources Group, Inc.

0.7%

e.l.f. Beauty, Inc.

0.7%

Simulations Plus, Inc.

0.6%

Caleres, Inc.

0.6%

B. Riley Financial, Inc.

0.6%

America's Car-Mart, Inc.

0.6%

Valvoline, Inc.

0.5%

CRA International, Inc.

0.5%

% of Total Portfolio

6.3%

Sector Weightings % of Equities

Financial Services

21.6%

Producer Durables

15.6%

Health Care

15.4%

Consumer Discretionary

14.7%

Technology

13.7%