The managers in this fund are selected based on both the tax sensitivity of their investment approach and their stock-selection abilities. Russell chooses managers that use many different investment styles, from ones that look for companies they believe have rapidly growing earnings to those that look for companies that are undervalued.
Managers in this fund typically hold stocks over a longer investment horizon than in an average large-cap fund that is not tax managed, as long as a stock's fundamentals remain strong. As a result of this longer term investment horizon, this approach typically avoids short-term capital gains, which should produce a more tax-efficient portfolio over time.
– Tereasa Gandhi
Allocation of fund assets As of 09/10/2009
% Allocated
Year assigned
Portfolio manager
Growth
Sands Capital Management Inc.
18%
2003
David Levanson, Frank Sands, Jr.
Turner Investment Partners Inc.
15%
2005
Bob Turner
Market-oriented
J.P. Morgan Investment Management, Inc.
35%
1996
Raffaele Zingone
Value
Armstrong Shaw Associates, Inc.
17%
2007
Jeffrey M. Shaw
Palisades Investment Partners, LLC
15%
2006
Quinn Stills
Managing money differently The Russell approach has been trusted for decades by many of the world's largest investors; our mutual funds allow you to employ that same approach. We identify investment managers we believe have exceptional capabilities, blend them to help manage risk through diversification, and constantly monitor them. Regardless of market conditions, Russell's investment approach remains constant.
Money managers listed are current as of 09/30/2009. Subject to the fund's board approval, Russell has the right to engage or terminate a money manager at any time and without a shareholder vote, based on an exemptive order from the Securities and Exchange Commission.
Income from funds managed for tax efficiency may be subject to an alternative minimum tax and/or any applicable state and local taxes.
Fund objectives, risks, charges and expenses should be carefully considered before investing. For a prospectus containing this and other important information call Russell at 1-866-676-7680 or go to the prospectus and reports page to download one. Please read the prospectus carefully before investing.
On September 2, 2008, the name of the Tax-Managed Large Cap Fund changed to Russell Tax-Managed U.S. Large Cap Fund.
Diversification and strategic asset allocation do not assure profit or protect against loss in declining markets.
For more information on Russell Funds, contact your investment professional or plan administrator for assistance.
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The managers in this fund are selected based on both the tax sensitivity of their investment approach and their stock-selection abilities. Russell chooses managers that use many different investment styles, from ones that look for companies they believe have rapidly growing earnings to those that look for companies that are undervalued.
