LARGE CAP MANAGED ACCOUNTCUSTOMIZABLE EQUITY PORTFOLIO WITH AN EXCEPTIONAL LEVELOF ACCESS TO THE WORLD’S LEADING INVESTMENT MANAGERS

Investment objective
The Large Cap Managed Account seeks to provide long-term capital growth from U.S. large cap stocks and is designed
to outperform the S&P 500® Index over a full market cycle.

At-a-glance
Portfolio manager

Nick Haupt, CFA
Nick Zylkowski, CFA

Inception date

5/1/2007

BenchmarkS&P 500® Index

Minimum account size

$80,000

Typical holdings80

Who is this SMA potentially suitable for?
Investors seeking a professionally-managed U.S. large cap equity portfolio designed to offer tax efficiency.

What this SMA offers:

GROWTH THROUGH
AN ACTIVE STOCKPORTFOLIO
Active management
seeking to increase
potential excess return
through stock selection
and sector weights

ACCESS TO THE
WORLD’S LEADINGMANAGERS AND
STRATEGIESCLIENT-CENTRICINVESTMENT
EXPERIENCE*

Diversified exposure tocomplementary investment
managers and strategies
that are “hire” ranked
based on our 50+ years ofrigorous manager research

Ability to select orexclude securities basedon an investor’s personal
preference and theirunique objectives andconstraints

ENHANCEDTAX EFFICIENCY*
Strive to maximize
after-tax wealth byactively managing taxes
throughout the year

* These services are optional and provided by overlay service providers.

Not a Deposit • Not FDIC Insured • May Lose Value • Not Bank Guaranteed• Not Insured by any Federal Government Agency

russellinvestments.com

Investment process

CapitalMarket &ManagerResearch• Capital market analysis

Portfolio
DesignPortfolio
Construction• Establish investment objectives • Minimize tracking error to model•• Rigorous and continuous
manager research•
conducted by specialized
analysts strategically placedaround the world

Ongoing
Portfolio
Management• Tax overlay*

Select and combine investment • Combine with our preferred positioning • Custom screens*managers and strategies• Rebalance & trade• Optimize stock selection and sector
portfolios
weights utilizing rules-based processes,
Obtain model portfolios fromtargeting 80 security portfolios
each underlying investment
manager* These services are optional and provided by overlay service providers.

Underlying managers and their investment strategiesMONEY MANAGERS**ROLEYEAR ASSIGNED

Brandywine Global Investment Management, LLC

Value

2019

J.P. Morgan Investment Management, LLC

Market-Oriented

2022

Jacobs Levy Equity Management, Inc

Market-Oriented

2019

William Blair Investment Management, LLC

Growth2022** Managers listed above were effective 10/13/2022. These money managers are unaffiliated with Russell Investment Management, LLC (“RIM”)
and have non-discretionary asset management assignments pursuant to which they provide a model portfolio to RIM representing their investment
recommendations. RIM may change portfolio asset allocation at any time, including not allocating portfolio assets to one or more money manager
strategies.

Ask your financial professional to learn more.
IMPORTANT INFORMATION
Important Risk Disclosures
Please remember that all investments carrysome level of risk, including the potential lossof principal invested. They do not typicallygrow at an even rate of return and may
experience negative growth. As with any typeof portfolio structuring, attempting to reducerisk and increase return could, at certain times,
unintentionally reduce returns.
Separate Accounts is a product of Russell
Investment Management, LLC (”RIM”). Each
Separate Accounts (“Account”) represents acomposite of model portfolios provided by RIM.
Because each client’s investment is implemented
and overseen by a third-party investment adviser
serving as a “centralized portfolio manager,” RIM
provides no investment management services
with respect to the accounts. Investment in one
or more accounts is not a complete investment
program.
Each client's investment in an Account isimplemented and overseen by a third-party
investment adviser that serves as a "centralizedportfolio manager." As a result, neither RIM nor
the third-party investment advisers that provide
model portfolios for use in the Account provide

any investment management services withrespect to the Accounts. The centralized portfolio
manager, in its implementation and ongoing
management of an Account for a particularclient, may pursue, among other things, tax
management strategies that may involve trading
restrictions and therefore affect performance
results. A client's actual performance will
differ from the Tax-Managed Large Cap SMA
performance due to a number of factors,
including, but not limited to, program or advisory
fees and account related expenses, the client's
investment restrictions, cash flows, timing ofinvestments, rebalancing frequency, etc. These
factors will differ across clients.
The S&P 500® Index: A free-float capitalizationweighted index published since 1957 of theprices of 500 large-cap common stocks actively
traded in the United States. The stocks includedin the S&P 500® are those of large publicly heldcompanies that trade on either of the two largest
American stock market exchanges: the New York
Stock Exchange and the NASDAQ.
Russell Investments’ ownership is composed ofa majority stake held by funds managed by TA

Associates Management, L.P., with a significant
minority stake held by funds managed by
Reverence Capital Partners, L.P. Certain of Russell
Investments' employees and Hamilton LaneAdvisors, LLC also hold minority, non-controlling,ownership stakes.
Frank Russell Company is the owner of theRussell trademarks contained in this material
and all trademark rights related to the Russell
trademarks, which the members of the Russell
Investments group of companies are permitted touse under license from Frank Russell Company.
The members of the Russell Investments group ofcompanies are not affiliated in any manner withFrank Russell Company or any entity operating
under the “FTSE RUSSELL” brand.
Copyright © 2024 Russell Investments
Group, LLC. All rights reserved. This material
is proprietary and may not be reproduced,
transferred, or distributed in any form without
prior written permission from Russell Investment
Group. It is delivered on an “as is” basis without
warranty.
First used July 2021 Updated June 2024.
RIM-03303 (Exp. 06/26)