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Performance information Russell funds - class A See the prospectus for more on these Russell funds Russell U.S. Core Equity Fund The fund first issued class A shares on September 2, 2008. The returns shown for class A shares from October 16, 1981 to May 16, 1999 are the returns of the fund's class I shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from May 17, 1999 to September 1, 2008 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 5.75%. Russell U.S. Quantitative Equity Fund The fund first issued class A shares on September 2, 2008. The returns shown for class A shares from June 1, 1987 to May 16, 1999 are the returns of the fund's class I shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from May 17, 1999 to September 1, 2008 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 5.75%. Russell U.S. Small Cap Equity Fund The fund first issued class A shares on September 2, 2008. The returns shown for class A shares from December 29, 1981 to May 16, 1999 are the returns of the fund's class I shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from May 17, 1999 to September 1, 2008 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 5.75%. Russell International Developed Markets Fund The fund first issued class A shares on September 2, 2008. The returns shown for class A shares from February 1, 1983 to May 16, 1999 are the returns of the fund's class I shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from May 17, 1999 to September 1, 2008 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 5.75%. Russell Emerging Markets Fund The fund first issued class A shares on March 1, 2007. The returns shown for class A shares from February 1, 1993 to September 21, 1998 are the returns of the fund's class S shares and do not reflect deduction of the Rule 12b-1 distribution fees. Had it done so, the returns shown for that period would have been lower. The returns shown from September 22, 1998 to February 28, 2007 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 5.75%. Russell Strategic Bond Fund The fund first issued class A shares on September 2, 2008. The returns shown for class A shares from February 1, 1993 to May 16, 1999 are the returns of the fund's class I shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from May 17, 1999 to September 1, 2008 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 3.75%. Russell Short Duration Bond Fund The fund first issued class A shares on March 1, 2007. The returns shown for class A shares from November 2, 1981 to February 18, 1999 are the returns of the fund's class S shares and do not reflect deduction of the Rule 12b-1 distribution fees. Had it done so, the returns shown for that period would have been lower. The returns shown from February 19, 1999 to February 28, 2007 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 3.75%. Russell Investment Grade Bond Fund The fund first issued class A shares on June 1, 2010. The returns shown for class A shares from October 15, 1981 to May 14, 1999 are the returns of the fund's class I shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from May 15, 1999 to May 31, 2010 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 3.75%. Russell Tax Exempt Bond Fund The fund first issued class A shares on June 1, 2010. The returns shown for class A shares from September 5, 1985 to May 14, 1999 are the returns of the fund's class S shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from May 15, 1999 to May 31, 2010 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 3.75%. Russell Tax-Managed U.S. Large Cap Fund The fund first issued class A shares on June 1, 2010. The returns shown for class A shares from October 7, 1996 to December 6, 2000 are the returns of the fund's class S shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from December 7, 2000 to May 31, 2010 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 5.75%. Russell Tax-Managed U.S. Mid & Small Cap Fund The fund first issued class A shares on June 1, 2010. The returns shown for class A shares from November 30, 1999 to December 6, 2000 are the returns of the fund's class S shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had they done so, the returns shown for that period would have been lower. The returns shown from December 7, 2000 to May 31, 2010 are the returns of the fund's class E shares. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 5.75%. Russell Real Estate Securities Fund The fund first issued class A shares on March 1, 2007. The returns shown for class A shares prior to that date are the returns of the fund's class E shares. The returns shown for class E shares from July 31, 1989 to May 17, 1998 reflect the deduction of the Rule 12b-1 distribution and shareholder services fees. Effective May 18, 1998, class E shares of the fund no longer charged Rule 12b-1 distribution fees and the returns shown after that date do not reflect the deduction of Rule 12b-1 distribution fees. Had it done so, the returns shown for that period would have been lower. The performance shown has been adjusted to reflect deduction of the maximum class A sales charge of 5.75%. Russell Money Market Fund The fund first issued class A shares on April 21, 2003. The returns shown for class A shares prior to that date are the returns of the fund's class S shares and do not reflect deduction of the Rule 12b-1 distribution fees that apply to class A shares. Had it done so, the returns shown for that period would have been lower. RFS-3437

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