Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. The Fund seeks to provide long term capital growth.
Strategy. The Fund has a non-fundamental policy to invest, under normal circumstances, at least 80% of the value of its net assets plus borrowings for investment purposes in equity securities. The Fund invests principally in equity securities, including common stocks and preferred stocks, of companies economically tied to a number of countries around the world, including the U.S., and in depositary receipts representing shares in such companies, in a globally diversified manner. A portion of the Funds securities are denominated principally in foreign currencies and are typically held outside the U.S. The Fund may invest a portion of its assets in equity securities of companies that are economically tied to emerging market countries. The Fund considers emerging market countries to include … The Fund has a non-fundamental policy to invest, under normal circumstances, at least 80% of the value of its net assets plus borrowings for investment purposes in equity securities. The Fund invests principally in equity securities, including common stocks and preferred stocks, of companies economically tied to a number of countries around the world, including the U.S., and in depositary receipts representing shares in such companies, in a globally diversified manner. A portion of the Funds securities are denominated principally in foreign currencies and are typically held outside the U.S. The Fund may invest a portion of its assets in equity securities of companies that are economically tied to emerging market countries. The Fund considers emerging market countries to include every country in the world except Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States. The Fund invests principally in large and medium capitalization companies, but may also invest in small capitalization companies. The Fund defines large and medium capitalization companies as those companies represented by the MSCI World Index or with market capitalization within the capitalization range of the MSCI World Index. Equity securities in which the Fund invests include common stocks, preferred stocks, partnership interests, depositary receipts and securities or instruments whose value is based on common stocks, such as futures contracts. In determining if a security is economically tied to a non-U.S. country, the Fund generally looks to the country of risk of the issuer as determined by a third party such as Bloomberg L.P. The Fund is advised by Russell Investment Management, LLC ( RIM ) and multiple money managers unaffiliated with RIM pursuant to a multi-style (e.g., growth, value, market-oriented, defensive and/or dynamic) and multi-manager approach. RIM provides all portfolio management services for the Fund and may change a Fund's allocation to the money manager investment strategies at any time. The Fund's money managers have non-discretionary asset management assignments pursuant to which they provide a model portfolio to RIM representing their investment recommendations. RIM manages the Fund by investing in a portfolio of equity securities determined via qualitative analysis and a quantitative model-based optimization process applied to an initial composite of the model portfolios provided by money managers. Money managers may employ a fundamental investment approach, a quantitative investment approach or a combination of both. RIM constructs an initial composite portfolio of securities that represents the aggregation of the money manager model portfolios based upon RIMs allocation to each money managers strategy and adjusting each securitys active weight (i.e., the difference between the Funds allocation to the security versus the Fund benchmarks allocation to the security) for risk control purposes. RIM then utilizes a quantitative model-based optimization process and qualitative analysis of desired Fund level exposures (such as momentum, quality, capitalization size, lower volatility, growth, industry, sector, country or region) to assess the characteristics of the initial money manager model portfolio composite and identify a portfolio of securities that provides the desired exposures, constrains portfolio turnover, meets minimum holding size requirements and reduces the number of securities in the optimized composite portfolio based on a specified target number of holdings for the Fund while further taking into consideration security level weightings. This optimization process involves an analysis of tradeoffs between various risk and return factors as well as turnover and transaction costs to estimate optimal portfolio positioning. The Fund usually, but not always, pursues a strategy of being fully invested by exposing all or a portion of any cash held to the performance of certain markets by purchasing equity securities and/or derivatives, which typically include futures contracts and forward currency contracts. The Fund may purchase and sell futures and forward contracts (1) as a substitute for holding securities directly, (2) to manage country and currency exposure, (3) for hedging purposes or (4) to facilitate the implementation of its investment strategy. The Fund may invest in synthetic foreign equity securities, which may be referred to as international warrants, local access products, participation notes or low exercise price warrants. International warrants are a form of derivative security issued by foreign banks that either give holders the right to buy or sell an underlying security or securities for a particular price or give holders the right to receive cash payment relating to the value of the underlying security or securities. Local access products are similar to options in that they are exercisable by the holder for an underlying security or the value of that security, but are generally exercisable over a longer term than typical options. The Fund may also invest in equity linked notes, which are notes whose return is tied to a single stock or a basket of stocks. Generally, upon the maturity of the note, the holder receives a return of principal based on the capital appreciation of the underlying linked securities. The Fund may at times seek to protect a portion of its investments against adverse currency exchange rate changes by purchasing forward currency contracts or currency futures contracts and may engage in currency transactions for speculative purposes. The Fund may also invest a portion of its assets in securities of companies, known as real estate investment trusts (REITs), that own and/or manage properties. The Fund may, from time to time, invest a significant portion of its total assets in securities of companies in a particular sector or sectors. As of the date of this Prospectus, the Fund expects to invest a significant portion of its assets in securities of companies in the information technology sector. Please refer to the Investment Objective and Investment Strategies section in the Fund's Prospectus for further information.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| APPLE INC | — | $10.99M | 4.01% |
| NVIDIA CORP | — | $9.92M | 3.62% |
| ALPHABET INC CL C | — | $8.06M | 2.94% |
| MICROSOFT CORP | — | $7.62M | 2.78% |
| AMAZON.COM INC | — | $7.57M | 2.76% |
| META PLATFORMS INC CL A | — | $5.28M | 1.92% |
| BROADCOM INC | — | $4.42M | 1.61% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $3.99M | 1.46% |
| ALPHABET INC CL A | — | $3.34M | 1.22% |
| APPLIED MATERIALS INC | — | $2.71M | 0.99% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Venerable World Equity Fund | 72% | 0.85% |
| Global Equity Fund · RGEAX, RGECX, RGESX, RLGYX, RGLRX, RGDTX | 72% | 0.78% |
| JNL/Mellon World Index Fund | 51% | 0.30% |
Advisers
| Firm | Role |
|---|---|
| Wellington Management Company LLP | Sub-adviser |
| Russell Investment Management, LLC | Adviser |
| Intermede Global Partners Inc. | Sub-adviser |
| Algert Global LLC | Sub-adviser |
| Sanders Capital, LLC | Sub-adviser |
Footnotes
- Expense ratio as of January 28, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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