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| Fund Overview |  | | | Fund Manager(s): | Goldman Sachs Asset Management, L.P.; Metropolitan West Asset Management, LLC; Pacific Investment Management Company, LLC (Money managers listed are current as of 6/30/2008. Russell has the right to employ or terminate a money manager at any time and without prior notification, as is consistent with its role as investment manager.) | | Objective: | Seeks to provide current income and the preservation of capital | | Focus: | Invests primarily in U.S. government, corporate and mortgage-backed securities. Foreign bonds and non-investment grade debt may also be held within the fund. | | Asset Class: | Bond | | Styles: | Broad Market/Sector Rotation |
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Bonds and other debt obligations are affected by changes in interest rates, inflation risk and the creditworthiness of their issuers. High yield bonds generally have greater price swings and higher default risks than investment grade bonds. Return of principal is not guaranteed. In contrast to owning individual bonds, there are ongoing fees and expenses associated with owning shares of bond funds. Overseas investments can pose more risks than domestic investments due to fluctuations in foreign stock markets, currency values, interest rates, government regulations and political conditions. |
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| Fund Facts as of 06-30-2008 | | | | Fund Inception | 04-30-1999 | | First Available for Variable Annuity | 04-30-1999 | | First Available for Variable Life | 06-30-1999 | | Net Assets | $372.54 Million |
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| Top 10 Portfolio Holdings | | | | % of Net Assets | | Fannie Mae | 3.0% | | Fannie Mae | 2.9% | | Fannie Mae | 1.9% | | Fannie Mae | 1.8% | | Fannie Mae | 1.7% | | United States Treasury Notes | 1.7% | | Freddie Mae | 1.4% | | Fannie Mae | 1.4% | | Fannie Mae | 1.2% | | United States Treasury Notes | 1.0% | | | | | % of total portfolio | 18.0% |
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The Core Bond Fund invests primarily in fixed-income securities. In particular, the Fund holds debt securities issued or guaranteed by the US government and, to lesser extent by non-US governments, or by their respective agencies and instrumentalities. It also holds mortgage-backed securities, including collateralized mortgage obligations. The Fund also invests in corporate debt securities and dollar-denominated obligations issued in the US by non-US banks and corporations (Yankee Bonds). The Fund may invest up to 25% of its assets in debt securities that are rated below investment grade. These securities are commonly referred to as "junk bonds." The duration of the Fund's portfolio typically ranges within 10% of the duration of the Lehman Brothers Aggregate Bond Index, but may vary up to 25% from the Index's duration. The Fund has no restrictions on individual security duration. The Fund invests in securities of issuers in a variety of sectors of the fixed-income market. The Fund employs multiple money managers, each with its own expertise in the fixed-income markets. You should carefully consider the investment objectives, risks, expenses and charges of the investment company before you invest. Your Northwestern Mutual Investment Services Registered Representative can provide you with a contract and prospectus that will contain the information noted above, and other important information that you should read carefully before you invest or send money. |
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