31 August 2024

Russell Investments World Equity Fund
Fund Objective
The Fund aims to achieve long term growth by investing at least 80% of its assets in the equities ofcompanies worldwide. The Fund is broadly diversified across different countries worldwide andindustry sectors. The Fund may also invest up to 20% of its assets in emerging markets. The Fund isactively managed with reference to the MSCI World Index (USD) - Net Returns (the Index) which it
seeks to outperform by 2% over the medium to long term. Russell Investments/ Money Managers havefull discretion to select investments for the Fund. This product is an Article 8 product, as defined under
EU regulation - it promotes environmental or social characteristics and invests in companies that follow
good governance practices. This product does not have sustainable investment as its objective

William Pearce
Portfolio Manager

Russell Investments' Global Equity
Team comprises over 23
experienced professionals,
including portfolio managers,
researchers, portfolio analysts, andstrategists in Russell Investments
offices around the globe.
The team manages a wide range ofU.S., non-U.S developed, emerging
market, frontier market, and global
equity mandates.

Fund Update
The Fund outperformed the benchmark in August. The tilt towards low volatility stocks was favourable
this month. In sectors, stock selection within financials (underweight Mitsubishi UFJ) was effective,
followed by selection within industrials (overweight Toto Ltd). An overweight allocation and selection
within health care (overweight HCA Healthcare) also contributed positively to excess returns. However,selection within technology (overweight Samsung) detracted.

Performance Review %Performance to period endReturns shown in EUR

1monthReturn net of management fee Class CAcc
MSCI World Index (USD) - Net Returns(EUR)

36months months

Year toDate

1year

3years

5years10years

Since
inception

0.5

3.7

7.1

13.7

18.2

6.4

10.7

10.2

8.3

0.3

4.5

8.2

16.5

22.0

9.2

13.0

11.5

9.0

All returns greater than 1 year are annualised

Rolling 12 Month Performance (%)
Fund facts
Share Class; Dealing ccy
C Acc; EUR

30/06/23
30/06/24

30/06/22
30/06/23

30/06/21
30/06/22

30/06/20
30/06/21

30/06/19
30/06/20

Return net of management fee Class C Acc

17.53

10.41

-4.68

33.99

-0.06

MSCI World Index (USD) - Net Returns (EUR)

22.35

13.56

-2.83

31.69

4.28

30/06/18
30/06/19

30/06/17
30/06/18

30/06/16
30/06/17

30/06/15
30/06/16

30/06/14
30/06/15

Return net of management fee Class C Acc

6.90

6.79

18.36

-4.39

26.72

MSCI World Index (USD) - Net Returns (EUR)

9.02

8.65

15.21

-2.46

24.72

Returns shown in EUR

Dealing frequency; Cut off
Daily; 2:00 pm GMTDomicile; Category
Ireland; UCITS
Fund size
USD 1,570.51m

Returns shown in EUR

Fund launch date

Past performance does not predict future returns.

09 February 2004

The current benchmark is the MSCI World Index (USD) - Net Returns converted into Euro. Prior to 1st January 2018 the benchmark
was the Russell Developed Large Cap NR Index. Prior to 1st April 2011 the benchmark was MSCI World NR

Share class launch date23 June 2004

Management fee
1.60%
ISIN; Bloomberg
IE0034046981; FRAWEQC ID
Share class NAV
EUR 1.97m1

31 August 2024

Russell Investments World Equity Fund
Portfolio Statistics

FundBenchmark

3 years

FundBenchmarkNumber of equity holdings

7031429

Volatility

16.5

16.5

Price/Earnings

28.9

31.3

Tracking error

1.8

1.8

Dividend Yield

1.9

1.9

Sharpe ratio--

Price to Book

2.8

3.0

Information ratio

-0.5

-0.5

EPS Growth (1 Year)

21.4

18.6

3 year return (net)

6.6%

9.2%

3 year excess return (net)-2.7%-Ten largest holdings by weight
IssuerFundBenchmarkMicrosoft Corp

2.9%

4.3%

Alphabet Inc

2.4%

2.6%

Apple Inc

2.2%

4.9%

Taiwan Semiconductor Manufacturing Co Ltd

2.1%

Meta Platforms Inc

Sector weights
FundBenchmark

Information Technology

23.6%

24.7%

Health Care

14.4%

12.3%

0.0%

Financials

14.3%

15.5%

1.6%

1.7%

Industrials

12.2%

11.0%

NVIDIA Corp

1.6%

4.3%

Consumer Discretionary

9.5%

9.9%

Amazon.com Inc

1.2%

2.4%

Communication Services

8.7%

7.4%

AstraZeneca PLC

1.1%

0.4%

Consumer Staples

6.6%

6.5%

UnitedHealth Group Inc

0.9%

0.8%

Energy3.7%

4.1%

ASML Holding NV

0.9%

0.5%

Materials

3.6%

3.7%

Utilities

2.3%

2.6%

Real Estate

1.1%

2.3%

Other

0.0%

0.0%

Fund

BenchmarkRegional weights
FundBenchmark

United States

67.7%

70.8%

Europe ex UK

15.1%

13.6%

Japan

5.7%

5.8%

United Kingdom

4.6%

3.8%

ESG Score

20.0

20.3

Canada3.2%

3.1%

Carbon Footprint

74.6

96.6

Australia/New Zealand

1.8%

2.0%

Emerging Markets

1.2%

0.1%

Asia ex Japan

0.7%

0.8%

Source: The portfolio-level ESG Risk Rating is the weighted average of the Sustainalytics'
Risk Rating for securities in the portfolio. The Sustainalytics Risk Rating details areavailable at https://www.sustainalytics.com/esg-data. Carbon footprint is the weighted
average carbon intensity of the Scope 1 and 2 carbon emission intensity of companies inthe portfolio. It is measured in tonnes of CO2e divided by revenue (USD $M).

ESG Data231 August 2024

Russell Investments World Equity Fund
Fund structureManager/Strategy

Strategy

TargetBrandywine Global Investment Management, LLC

Value

7.0%

Actual6.2%

INVESCO Asset Management Limited

European Equities

12.0%

13.1%

Joh. Berenberg, Gossler & Co. KG

European All Cap

6.0%

5.1%

Nissay Asset Management CorporationValue

8.0%

6.7%

Numeric Investors LLC

Market-Oriented12.0%

15.5%

PineStone Asset Management Inc.

Growth

10.0%

9.8%

Sanders Capital, LLC

Value

15.0%

16.2%

Wellington Management Company LLP

Growth

10.0%

10.1%

Russell Investments

Positioning Strategies

20.0%

17.3%

Russell Investments may trade a portion of the Fund's assets based on a model portfolio provided by the investment advisor. By employing this emulated portfolio approach, theFund leverages off the implementation capabilities of Russell Investments in order to manage the funds in an efficient manner.

Important Information
This material does not constitute an offer or invitation to anyone in any jurisdiction in which such distribution is not authorised.
Unless otherwise specified, Russell Investments is the source of all data. All information contained in this material is current at the time of issue and, to the best of our knowledge,accurate. Any opinion expressed is that of Russell Investments, is not a statement of fact, is subject to change and does not constitute investment advice.
The value of investments and the income from them can fall as well as rise and is not guaranteed. You may not get back the amount originally invested.
Past performance does not predict future returns.
The net assets of the fund are likely to have high volatility.
Potential investors in Emerging markets should be aware that investment in these markets can involve a higher degree of risk.
Any reference to returns linked to currencies may increase or decrease as a result of currency fluctuations. Tax treatments depend on the circumstances of the individual
client and may be subject to change in the future.
This is a marketing communication. Please refer to the prospectus of the UCITS and to the KIID/KID before making any final investment decisions.
In the UK this marketing document has been issued by Russell Investments Limited. Company No. 02086230. Registered in England and Wales with registered office at: Rex House,
10 Regent Street, London SW1Y 4PE. Telephone +44 (0)20 7024 6000. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN.In theEU this marketing document has been issued by Russell Investments Ireland Limited. Company No. 213659. Registered in Ireland with registered office at: 78 Sir John Rogerson'sQuay, Dublin 2, Ireland. Authorised and regulated by the Central Bank of Ireland. In the Middle East this marketing document has been issued by Russell Investments Limited aDubai International Financial Centre company which is regulated by the Dubai Financial Services Authority at: Office 4, Level 1, Gate Village Building 3, DIFC, PO Box 506591,
Dubai UAE. Telephone +971 4 578 7097.This material should only be marketed towards Professional Clients as defined by the DFSA.
KvK number 67296386© 1995-2024 Russell Investments Group, LLC. All rights reserved.
PaR-00709 (EXP Dec 2024)
U-03016-2024-09-20

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