Investment Manager Outlook Quarterly Tracking of Investment Manager Sentiment Key Trends — November 2008 Special Edition Investment Manager Survey* * Reflects survey results fielded Aug 28 to Sept 5, compared to survey results from June 2008 Investment Manager Outlook Poll. Prior to the worldwide market decline, optimism was returning. However, the managers contacted for this special edition of the Investment Manager Outlook have now replaced that optimism with uncertainty. These managers appear focused on when and how the credit crisis will end, and on the potential impact of unprecedented government actions. Additionally, the managers believe that the economy is mired deep in a recession that will keep the waters muddy and murky for some time. Uncertainty predominates, but the managers still have faith in the financial system. They do believe that the markets will rebound eventually, they're just not sure how long it will take to get there. View the complete special edition report for November 2008 (PDF). Archives (PDF) June 2008  |  March 2008 December 2007  |  September 2007  |  June 2007  |  March 2007 December 2006  |  September 2006  |  June 2006  |  March 2006 December 2005  |  September 2005  |  June 2005  |  March 2005 About Russell's Investment Manager Outlook As the creators of the Russell indexes, consultants to more than $910 billion in assets worldwide, and the only firm that monitors more than 4,500 investment manager firms, Russell Investments has extraordinary access to senior-level investment decision makers. Prior to the end of each quarter, Russell surveys those decision makers to collect their topline opinions about the direction of the markets, sectors/styles to watch, and trends on the horizon that could impact investment strategy. The result of this survey is Russell's Investment Manager Outlook that is published during the final week of each quarter. Growth investments focus on stocks of companies whose earnings/profitability are accelerating in the short term or have grown consistently over the long term. Such investments may provide minimal dividends which could otherwise cushion stock prices in a market decline. Stock value may rise and fall significantly base, in part, on investors' perceptions of the company, rather than on fundamental analysis of the stocks. Investors should carefully consider the additional risks involved in growth investments. Specific sector investing such as real estate can be subject to different and greater risks than more diversified investments. Declines in the value of real estate, economic conditions, property taxes and tax laws and interest rates all present potential risks to real estate investments. Copyright© Russell Investments 2008. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments. It is delivered on an as is basis without warranty. Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company. Securities products and services offered through Russell Financial Services, Inc. (formerly Russell Fund Distributors, Inc.), member FINRA, part of Russell Investments. For information on the Financial Industry Regulatory Authority, go to www.finra.org. RFD 05-5090. First used: June 2005.			Download Adobe Acrobat Reader to view PDF files Printer friendly version of this page

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