Strategic Bond Fund - Class S

Broadening bond exposure.

Fund objective

Seeks to provide current income, and as a secondary objective, capital appreciation.

Notice:

Effective September 22, 2017, Class A1 Shares were redesignated as Class T Shares.

Effective September 15th, 2017, Class T Shares were redesignated as Class M Shares.

Effective August 18th, 2017, Class I Shares were reclassified as Class S Shares.

Overview

Class Ticker CUSIP
A RFDAX 782494470
C RFCCX 782494462
E RFCEX 782493167
M RSYTX 78250H873
R6 RSBRX 78250F844
S RFCTX 782494454
T RSYAX 78250H600
Y RFCYX 782493159

Investment strategy

  • Offers more aggressive fixed income exposure than other Russell Investments fixed income mutual funds.
  • Broad market exposure with non-U.S. component.
  • Utilized a variety of total return strategies.

Fund highlights

  • Aims for higher returns from the bond market by investing in a broader universe of bonds.
  • Seeks returns by investing a small portion of assets in high-yield bonds with lower credit ratings.
  • Helps manage volatility by diversifying among managers and styles.

Growth of hypothetical $10,000 (since inception)

As of 10/31/2017
1/29/1993 12:00:00 AM 10000
1/31/1993 12:00:00 AM 10000
2/28/1993 12:00:00 AM 10140
3/31/1993 12:00:00 AM 10170
4/30/1993 12:00:00 AM 10272.824
5/31/1993 12:00:00 AM 10313.03
6/30/1993 12:00:00 AM 10554.271
7/31/1993 12:00:00 AM 10642.49
8/31/1993 12:00:00 AM 10877.402
9/30/1993 12:00:00 AM 10948.896
10/31/1993 12:00:00 AM 11031.278
11/30/1993 12:00:00 AM 10938.144
12/31/1993 12:00:00 AM 11021.558
1/31/1994 12:00:00 AM 11190.471
2/28/1994 12:00:00 AM 10984.058
3/31/1994 12:00:00 AM 10677.771
4/30/1994 12:00:00 AM 10544.492
5/31/1994 12:00:00 AM 10533.776
6/30/1994 12:00:00 AM 10490.913
7/31/1994 12:00:00 AM 10663.383
8/31/1994 12:00:00 AM 10728.802
9/30/1994 12:00:00 AM 10619.77
10/31/1994 12:00:00 AM 10590.985
11/30/1994 12:00:00 AM 10568.782
12/31/1994 12:00:00 AM 10593.242
1/31/1995 12:00:00 AM 10740.213
2/28/1995 12:00:00 AM 10939.482
3/31/1995 12:00:00 AM 11007.358
4/30/1995 12:00:00 AM 11240.369
5/31/1995 12:00:00 AM 11632.341
6/30/1995 12:00:00 AM 11678.455
7/31/1995 12:00:00 AM 11709.236
8/31/1995 12:00:00 AM 11849.888
9/30/1995 12:00:00 AM 11967.097
10/31/1995 12:00:00 AM 12123.758
11/30/1995 12:00:00 AM 12302.224
12/31/1995 12:00:00 AM 12498.722
1/31/1996 12:00:00 AM 12631.688
2/29/1996 12:00:00 AM 12389.933
3/31/1996 12:00:00 AM 12317.406
4/30/1996 12:00:00 AM 12275.632
5/31/1996 12:00:00 AM 12263.344
6/30/1996 12:00:00 AM 12410.799
7/31/1996 12:00:00 AM 12443.343
8/31/1996 12:00:00 AM 12443.343
9/30/1996 12:00:00 AM 12680.478
10/31/1996 12:00:00 AM 12954.808
11/30/1996 12:00:00 AM 13208.327
12/31/1996 12:00:00 AM 13108.614
1/31/1997 12:00:00 AM 13160.172
2/28/1997 12:00:00 AM 13224.62
3/31/1997 12:00:00 AM 13069.946
4/30/1997 12:00:00 AM 13254.047
5/31/1997 12:00:00 AM 13398.113
6/30/1997 12:00:00 AM 13555.276
7/31/1997 12:00:00 AM 13907.909
8/31/1997 12:00:00 AM 13814.835
9/30/1997 12:00:00 AM 14014.279
10/31/1997 12:00:00 AM 14149.8
11/30/1997 12:00:00 AM 14217.244
12/31/1997 12:00:00 AM 14372.13
1/31/1998 12:00:00 AM 14551.437
2/28/1998 12:00:00 AM 14553.029
3/31/1998 12:00:00 AM 14622.329
4/30/1998 12:00:00 AM 14671.255
5/31/1998 12:00:00 AM 14783.678
6/30/1998 12:00:00 AM 14896.102
7/31/1998 12:00:00 AM 14952.936
8/31/1998 12:00:00 AM 14967.191
9/30/1998 12:00:00 AM 15238.026
10/31/1998 12:00:00 AM 15120.484
11/30/1998 12:00:00 AM 15308.585
12/31/1998 12:00:00 AM 15350.112
1/31/1999 12:00:00 AM 15470.27
2/28/1999 12:00:00 AM 15229.955
3/31/1999 12:00:00 AM 15410.191
4/30/1999 12:00:00 AM 15527.233
5/31/1999 12:00:00 AM 15359.618
6/30/1999 12:00:00 AM 15298.668
7/31/1999 12:00:00 AM 15210.946
8/31/1999 12:00:00 AM 15195.488
9/30/1999 12:00:00 AM 15350.071
10/31/1999 12:00:00 AM 15369.74
11/30/1999 12:00:00 AM 15369.74
12/31/1999 12:00:00 AM 15306.263
1/31/2000 12:00:00 AM 15242.42
2/29/2000 12:00:00 AM 15417.987
3/31/2000 12:00:00 AM 15609.515
4/30/2000 12:00:00 AM 15573.483
5/31/2000 12:00:00 AM 15524.815
6/30/2000 12:00:00 AM 15865.485
7/31/2000 12:00:00 AM 15968.406
8/31/2000 12:00:00 AM 16198.878
9/30/2000 12:00:00 AM 16281.189
10/31/2000 12:00:00 AM 16340.04
11/30/2000 12:00:00 AM 16557.684
12/31/2000 12:00:00 AM 16884.597
1/31/2001 12:00:00 AM 17243.117
2/28/2001 12:00:00 AM 17413.841
3/31/2001 12:00:00 AM 17396.769
4/30/2001 12:00:00 AM 17293.064
5/31/2001 12:00:00 AM 17413.393
6/30/2001 12:00:00 AM 17413.393
7/31/2001 12:00:00 AM 17819.353
8/31/2001 12:00:00 AM 17994.74
9/30/2001 12:00:00 AM 18082.434
10/31/2001 12:00:00 AM 18424.254
11/30/2001 12:00:00 AM 18264.043
12/31/2001 12:00:00 AM 18171.32
1/31/2002 12:00:00 AM 18299.545
2/28/2002 12:00:00 AM 18446.088
3/31/2002 12:00:00 AM 18153.002
4/30/2002 12:00:00 AM 18458.652
5/31/2002 12:00:00 AM 18588.121
6/30/2002 12:00:00 AM 18606.617
7/31/2002 12:00:00 AM 18665.057
8/31/2002 12:00:00 AM 19021.117
9/30/2002 12:00:00 AM 19189.777
10/31/2002 12:00:00 AM 19130.868
11/30/2002 12:00:00 AM 19358.39
12/31/2002 12:00:00 AM 19746.733
1/31/2003 12:00:00 AM 19881.064
2/28/2003 12:00:00 AM 20111.347
3/31/2003 12:00:00 AM 20111.347
4/30/2003 12:00:00 AM 20420.5
5/31/2003 12:00:00 AM 20827.746
6/30/2003 12:00:00 AM 20808.353
7/31/2003 12:00:00 AM 20276.02
8/31/2003 12:00:00 AM 20529.714
9/30/2003 12:00:00 AM 21037.103
10/31/2003 12:00:00 AM 20904.111
11/30/2003 12:00:00 AM 20982.625
12/31/2003 12:00:00 AM 21207.26
1/31/2004 12:00:00 AM 21390.432
2/29/2004 12:00:00 AM 21573.604
3/31/2004 12:00:00 AM 21716.071
4/30/2004 12:00:00 AM 21252.738
5/31/2004 12:00:00 AM 21170.918
6/30/2004 12:00:00 AM 21293.648
7/31/2004 12:00:00 AM 21511.344
8/31/2004 12:00:00 AM 21902.46
9/30/2004 12:00:00 AM 21964.215
10/31/2004 12:00:00 AM 22155.138
11/30/2004 12:00:00 AM 22051.512
12/31/2004 12:00:00 AM 22232.252
1/31/2005 12:00:00 AM 22337.519
2/28/2005 12:00:00 AM 22274.359
3/31/2005 12:00:00 AM 22169.093
4/30/2005 12:00:00 AM 22425.631
5/31/2005 12:00:00 AM 22659.01
6/30/2005 12:00:00 AM 22807.524
7/31/2005 12:00:00 AM 22638.704
8/31/2005 12:00:00 AM 22916.873
9/30/2005 12:00:00 AM 22681.499
10/31/2005 12:00:00 AM 22520.492
11/30/2005 12:00:00 AM 22585.269
12/31/2005 12:00:00 AM 22799.31
1/31/2006 12:00:00 AM 22821.211
2/28/2006 12:00:00 AM 22886.915
3/31/2006 12:00:00 AM 22689.803
4/30/2006 12:00:00 AM 22683.682
5/31/2006 12:00:00 AM 22639.465
6/30/2006 12:00:00 AM 22661.573
7/31/2006 12:00:00 AM 22954.206
8/31/2006 12:00:00 AM 23289.467
9/30/2006 12:00:00 AM 23490.624
10/31/2006 12:00:00 AM 23634.443
11/30/2006 12:00:00 AM 23905.584
12/31/2006 12:00:00 AM 23739.972
1/31/2007 12:00:00 AM 23739.972
2/28/2007 12:00:00 AM 24106.259
3/31/2007 12:00:00 AM 24129.152
4/30/2007 12:00:00 AM 24277.956
5/31/2007 12:00:00 AM 24069.859
6/30/2007 12:00:00 AM 24023.616
7/31/2007 12:00:00 AM 24167.689
8/31/2007 12:00:00 AM 24378.25
9/30/2007 12:00:00 AM 24682.393
10/31/2007 12:00:00 AM 24878.935
11/30/2007 12:00:00 AM 25234.01
12/31/2007 12:00:00 AM 25260.299
1/31/2008 12:00:00 AM 25694.159
2/29/2008 12:00:00 AM 25573.643
3/31/2008 12:00:00 AM 25284.403
4/30/2008 12:00:00 AM 25376.257
5/31/2008 12:00:00 AM 25254.256
6/30/2008 12:00:00 AM 25034.654
7/31/2008 12:00:00 AM 24612.084
8/31/2008 12:00:00 AM 24661.506
9/30/2008 12:00:00 AM 23994.311
10/31/2008 12:00:00 AM 22879.505
11/30/2008 12:00:00 AM 22465.062
12/31/2008 12:00:00 AM 23138.142
1/31/2009 12:00:00 AM 23238.743
2/28/2009 12:00:00 AM 22764.845
3/31/2009 12:00:00 AM 23045.521
4/30/2009 12:00:00 AM 23582.133
5/31/2009 12:00:00 AM 24333.718
6/30/2009 12:00:00 AM 24757.951
7/31/2009 12:00:00 AM 25651.701
8/31/2009 12:00:00 AM 26312.688
9/30/2009 12:00:00 AM 26853.157
10/31/2009 12:00:00 AM 27253.773
11/30/2009 12:00:00 AM 27549.227
12/31/2009 12:00:00 AM 27451.163
1/31/2010 12:00:00 AM 28142.092
2/28/2010 12:00:00 AM 28319.478
3/31/2010 12:00:00 AM 28458.868
4/30/2010 12:00:00 AM 29093.159
5/31/2010 12:00:00 AM 28919.965
6/30/2010 12:00:00 AM 29389.22
7/31/2010 12:00:00 AM 29845.457
8/31/2010 12:00:00 AM 30352.819
9/30/2010 12:00:00 AM 30544.638
10/31/2010 12:00:00 AM 30832.5
11/30/2010 12:00:00 AM 30646.31
12/31/2010 12:00:00 AM 30409.977
1/31/2011 12:00:00 AM 30607.628
2/28/2011 12:00:00 AM 30805.131
3/31/2011 12:00:00 AM 30811.476
4/30/2011 12:00:00 AM 31228.935
5/31/2011 12:00:00 AM 31539.698
6/30/2011 12:00:00 AM 31314.135
7/31/2011 12:00:00 AM 31721.016
8/31/2011 12:00:00 AM 31754.56
9/30/2011 12:00:00 AM 31692.853
10/31/2011 12:00:00 AM 31805.226
11/30/2011 12:00:00 AM 31653.737
12/31/2011 12:00:00 AM 32021.505
1/31/2012 12:00:00 AM 32580.19
2/29/2012 12:00:00 AM 32775.624
3/31/2012 12:00:00 AM 32765.453
4/30/2012 12:00:00 AM 33114.252
5/31/2012 12:00:00 AM 33370.654
6/30/2012 12:00:00 AM 33403.694
7/31/2012 12:00:00 AM 33906.986
8/31/2012 12:00:00 AM 34106.414
9/30/2012 12:00:00 AM 34379.287
10/31/2012 12:00:00 AM 34539.205
11/30/2012 12:00:00 AM 34666.51
12/31/2012 12:00:00 AM 34716.557
1/31/2013 12:00:00 AM 34593.558
2/28/2013 12:00:00 AM 34773.698
3/31/2013 12:00:00 AM 34804.834
4/30/2013 12:00:00 AM 35221.233
5/31/2013 12:00:00 AM 34646.886
6/30/2013 12:00:00 AM 33918.102
7/31/2013 12:00:00 AM 33939.689
8/31/2013 12:00:00 AM 33766.296
9/30/2013 12:00:00 AM 34073.495
10/31/2013 12:00:00 AM 34433.386
11/30/2013 12:00:00 AM 34380.1
12/31/2013 12:00:00 AM 34146.498
1/31/2014 12:00:00 AM 34649.114
2/28/2014 12:00:00 AM 34880.234
3/31/2014 12:00:00 AM 34732.299
4/30/2014 12:00:00 AM 34998.202
5/31/2014 12:00:00 AM 35444.39
6/30/2014 12:00:00 AM 35462.33
7/31/2014 12:00:00 AM 35410.294
8/31/2014 12:00:00 AM 35801.766
9/30/2014 12:00:00 AM 35562.041
10/31/2014 12:00:00 AM 35875.149
11/30/2014 12:00:00 AM 36104.848
12/31/2014 12:00:00 AM 36139.457
1/31/2015 12:00:00 AM 36856.381
2/28/2015 12:00:00 AM 36537.464
3/31/2015 12:00:00 AM 36737.838
4/30/2015 12:00:00 AM 36595.823
5/31/2015 12:00:00 AM 36550.459
6/30/2015 12:00:00 AM 36112.054
7/31/2015 12:00:00 AM 36386.663
8/31/2015 12:00:00 AM 36313.325
9/30/2015 12:00:00 AM 36468.834
10/31/2015 12:00:00 AM 36529.067
11/30/2015 12:00:00 AM 36352.427
12/31/2015 12:00:00 AM 36135.722
1/31/2016 12:00:00 AM 36541.742
2/29/2016 12:00:00 AM 36776.241
3/31/2016 12:00:00 AM 37245.183
4/30/2016 12:00:00 AM 37532.391
5/31/2016 12:00:00 AM 37463.657
6/30/2016 12:00:00 AM 38282.718
7/31/2016 12:00:00 AM 38607.055
8/31/2016 12:00:00 AM 38541.297
9/30/2016 12:00:00 AM 38613.736
10/31/2016 12:00:00 AM 38370.888
11/30/2016 12:00:00 AM 37282.575
12/31/2016 12:00:00 AM 37302.561
1/31/2017 12:00:00 AM 37515.111
2/28/2017 12:00:00 AM 37691.725
3/31/2017 12:00:00 AM 37730.31
4/30/2017 12:00:00 AM 38067.621
5/31/2017 12:00:00 AM 38370.687
6/30/2017 12:00:00 AM 38406.215
7/31/2017 12:00:00 AM 38619.385
8/31/2017 12:00:00 AM 38903.613
9/30/2017 12:00:00 AM 38725.971
10/31/2017 12:00:00 AM 38673.289

Historical NAVs

Historical distributions

Ex-Date Income Dividend Capital Gains - Short Term Capital Gains - Long Term
12/02/2016 0.0131
12/19/2016 0.0349 0.2327 0.0629
02/02/2017 0.0098
03/02/2017 0.0108
04/04/2017 0.005
05/02/2017 0.0053
10/03/2017 0.0152
11/02/2017 0.0194

Performance information is historical and does not guarantee future results. Investment return and principal value will fluctuate so that redeemed shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Current to the most recent month-end performance for Russell Investment Company mutual funds is available by visiting: https://russellinvestments.com/us/funds/performance-prices

Holdings, sector weights, and quality ratings (where applicable) are share class agnostic.

Top 10 Holdings

As of 09/30/2017

Updated Monthly

Company Weight
United States Treasury Notes 2.250% 15-Aug-2027 3.13%
United States Treasury Notes 1.250% 31-Oct-2021 2.24%
Fannie Mae 3.000% 1-Dec-2099 1.57%
United States Treasury Notes 2.750% 15-Aug-2047 1.44%
United States Treasury Notes 1.125% 31-Jul-2021 1.40%
United States Treasury Notes 1.125% 30-Jun-2021 1.40%
United States Treasury Notes 1.625% 30-Jun-2019 1.13%
United States Treasury Notes 1.375% 30-Sep-2020 1.08%
United States Treasury Notes 1.05%
United States Treasury Notes 1.625% 31-Oct-2023 0.79%

Sector weightings

As of 09/30/2017

Updated Monthly

Sector Weighting
Developed Govt/Govt-Related 34.41%
Investment Grade Credit 26.53%
High Yield 3.33%
Commercial Mortgage Backed 5.23%
Residential Mortgage Backed 19.01%
Asset Backed 4.08%
Emerging Markets Debt 4.81%
Net Cash & Equivalents 2.44%
Uncategorized 0.16%

Regional allocationsθ

As of 09/30/2017

Updated Monthly

Region Allocation
North America 90.08%
Europe 5.47%
Asia 2.69%
Latin America 1.63%
Africa 0.25%
Middle East 0.06%

Quality ratingsƩ

As of 09/30/2017

Updated Monthly

Quality rating % of market value
AAA 49.73%
AA 7.78%
A 12.08%
BBB 18.55%
BB 4.59%
B 1.77%
CCC & Below 2.79%
Unrated 2.72%

Country of risk✻✻

As of 06/30/2017

Updated quarterly

Country of risk % NAV Fund Benchmark Active
United States 86.99 91.06 -4.07
Eurozone 6.96 0.00 6.96
Italy 2.70 0.05 2.65
United Kingdom 1.63 0.92 0.72
Canada 1.28 1.29 -0.01
Mexico 0.93 0.61 0.32
Brazil 0.72 0.11 0.61
Colombia 0.69 0.18 0.51
Switzerland 0.68 0.27 0.41
Australia 0.65 0.36 0.28

Currency exposure§

As of 06/30/2017

Updated quarterly

Currency exposure (%) Fund Benchmark Active
U.S. Dollar 96.98 100.00 -3.02
Euro 1.43 0.00 1.43
Swedish Krona 1.30 0.00 1.30
Turkish Lira 0.65 0.00 0.65
Polish Zloty 0.59 0.00 0.59
South African Rand 0.49 0.00 0.49
British Pounds 0.46 0.00 0.46
Mexican Peso 0.41 0.00 0.41
Japanese Yen 0.40 0.00 0.40
Israeli Shekel 0.38 0.00 0.38

The top ten holdings list excludes shares of the investment vehicles in which the Fund invests its cash. The % of Portfolio value is subject to change.

Sector allocations and credit quality exposures may not equal 100 percent as a result of the fund's use of certain financial instruments such as futures, forwards, options, swaps and when issued transactions or forward commitments. Managers utilize these instruments as a substitute for holding securities directly, for hedging purposes, to take a net short position in certain markets or to adjust the interest rate sensitivity and duration of the portfolio. In the event short positions are created, they may be reflected as negative weightings in sector allocations and credit quality exposures.

ϴ Due to rounding totals may not equal 100%.

 

ƩThe sum of the debt instrument quality ratings is based upon the Barclays index methodology, which reflects the ratings of S&P and Moody's such that if both S&P and Moody's rate an instrument, the lower of the two ratings is used, and if only one rates the instrument, that rating is used. If the debt instrument has not been rated by any of these two ratings agencies, the security is classified as "Unrated."

**Country of Risk is determined by Russell Investments and is intended to represent the country specific risk of the issuers in which the Fund invests.This determination may be based upon several factors, including the country of an issuer's incorporation, where an issuer's revenues are generated and where an issuer's production and/or employees are located.

§ Currency exposure represents the percentage of the Fund's net asset value denominated in each respective currency. Positive values represent net long positions and negative values represent net short positions.

Fund objectives, risks, charges and expenses should be carefully considered before investing. A summary prospectus, if available, or a prospectus containing this and other important information can be obtained by calling 800-787-7354 or by visiting the prospectus and reports page to download one. Please read the prospectus carefully before investing.

Please remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.

Diversification and multi-asset solutions do not assure a profit and do not protect against loss in declining markets.

Not FDIC Insured. May Lose Value. No Bank Guarantee.

Securities products and services offered through Russell Investments Financial Services, LLC, member FINRA, part of Russell Investments.
For information on the Financial Industry Regulatory Authority, go to www.finra.org.

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