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| Fund Overview |  | | | Fund Manager(s): | Altrinsic Global Advisors, LLC; AQR Capital Management, LLC; MFS Institutional Advisors, Inc.; Wellington Management Company, LLP (Money managers listed are current as of 9/30/2008. 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 long term capital growth. | | Focus: | Primarily invests in equity securities issued by companies domiciled outside the United States. | | Asset Class: | International Stocks | | Styles | Value, Growth and Market-Oriented |
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Overseas investments can pose more risks than domestic investments. Unit
values are subject to fluctuations in foreign stock markets, currency
values, interest rates, government regulations and political conditions. |
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| Fund Facts as of 09-30-2008 | | | | Fund Inception | 04-30-1999 | | First Available for Variable Annuity | 04-30-1999 | | First Available for Variable Life | 06-30-1999 | | Net Assets | $310.24 Million |
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| Top 10 Portfolio Holdings | | | | % of Net Assets | | Nestle SA | 3.1% | | Roche Holding AG | 2.4% | | Reckitt Benckiser PLC | 1.9% | | Total SA | 1.9% | | Heineken NV | 1.5% | | Diageo PLC | 1.4% | | GlaxoSmithKline PLC | 1.4% | | LVMH Moet Hennessy Louis Vuitton SA | 1.3% | | WPP Group PLC | 1.3% | | Vivendi Universal SA | 1.2% | | | | | % of total portfolio | 17.4% |
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| Country Diversification | | | | % of Net Assets | | United Kingdom | 20.9% | | Japan | 18.3% | | France | 15.2% | | Switzerland | 10.2% | | Germany | 9.0% |
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The Non-U.S. Fund invests primarily in equity securities issued by companies domiciled outside the US and in depository receipts, which represent ownership of securities of non-US companies. The Fund's investments span most of the developed nations of the world (particularly Europe and the Far East) to maintain high degree of diversification among countries and currencies. This Fund may be appropriate for investors who want to reduce their investment portfolio's overall volatility by combining an investment in this Fund with investments in US equities. The Fund employs "multi-style, multi-manager" approach whereby portions of the Fund are allocated to different money managers who employ distinct investment styles. The Fund uses three principal investment styles intended to complement one another: a Growth Style, a Value Style and Market-Oriented Style. The Fund intends to be fully invested at all times. 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 fund 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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