Strategy. The Fund invests, under normal circumstances, at least 80% of its net assets (plus borrowings for investment purposes) in companies that are included in a benchmark index that measures the investment return of mid capitalization companies. Typically, the actual percentage is considerably higher. The Fund uses an index-based investment approach designed to track the Russell MidCap Index (the "Index"), a widely recognized benchmark of U.S. stock market performance whose constituents are generally considered mid capitalization stocks. Venerable Investment Advisers, LLC (the "Adviser") has engaged Russell Investment Management, LLC ("RIM") to provide the day-to-day management of the Fund's portfolio pursuant to investment guidelines provided by the Adviser. The Fund generally seeks to replicate the performance of the Index by giving approximately … Show more… The Fund invests, under normal circumstances, at least 80% of its net assets (plus borrowings for investment purposes) in companies that are included in a benchmark index that measures the investment return of mid capitalization companies. Typically, the actual percentage is considerably higher. The Fund uses an index-based investment approach designed to track the Russell MidCap Index (the "Index"), a widely recognized benchmark of U.S. stock market performance whose constituents are generally considered mid capitalization stocks. Venerable Investment Advisers, LLC (the "Adviser") has engaged Russell Investment Management, LLC ("RIM") to provide the day-to-day management of the Fund's portfolio pursuant to investment guidelines provided by the Adviser. The Fund generally seeks to replicate the performance of the Index by giving approximately the same weight to a given security as the Index does. However, under extraordinary circumstances, the Fund may at times hold securities not included in the Index or may not hold securities in the same proportions as the Index (for example, as a result of corporate actions with respect to securities included in the Index (such as mergers and spin-offs), legal restrictions that apply to the Fund but not to the Index (such as diversification requirements), or liquidity considerations with respect to a security or extraordinary circumstances (such as if trading in a security has been halted). The Fund may sell securities that are represented in the Index in anticipation of their removal from the Index or buy securities that are not yet represented in the Index in anticipation of their addition to the Index. The Fund pursues a strategy of being fully invested by exposing its cash to the performance of mid cap stocks by purchasing index swaps and index futures contracts, which are derivatives. The Fund may concentrate its investments (i.e., hold more than 25% of its total assets) in an industry or group of industries to the extent that the Index is so concentrated. The Fund is classified as diversified under the Investment Company Act of 1940, as amended (the "1940 Act"); however, the Fund may become non-diversified solely as a result of changes in the composition of the Index (e.g., changes in weightings of one or more component securities). When the Fund is non-diversified, it may invest a relatively high percentage of its assets in a limited number of issuers. Show less