Unconstrained Total Return Fund

Fund objective

Seeks to provide total return.


Overview

Class Ticker CUSIP
A RUTAX 78250F737
C RUTCX 78250F729
M RUCTX 78250H501
S RUTSX 78250F687
Y RUTYX 78250F679

Investment strategy

The Fund seeks to achieve its objective by opportunistically investing in a broad range of fixed income securities across sectors, the globe and credit quality and maturity spectrums, with an emphasis on higher-yielding securities.  

Fund highlights

  • The Fund also employs currency and duration management strategies.  The Fund's returns are expected to be correlated to changes in interest rates and performance of credit markets, but the Fund will use wide latitude and flexibility within bond markets in order to seek to minimize periods of negative performance and reduce volatility. 
  • The Fund may also invest in other asset classes in order to seek to achieve its objective, including equity securities.

Growth of hypothetical $10,000 (since inception) - Class S

As of 11/30/2019
9/22/2016 12:00:00 AM 10000
9/30/2016 12:00:00 AM 9990
10/31/2016 12:00:00 AM 10030.201
11/30/2016 12:00:00 AM 9997.226
12/31/2016 12:00:00 AM 10063.943
1/31/2017 12:00:00 AM 10114.771
2/28/2017 12:00:00 AM 10052.48
3/31/2017 12:00:00 AM 10108.252
4/30/2017 12:00:00 AM 10173.414
5/31/2017 12:00:00 AM 10205.203
6/30/2017 12:00:00 AM 10225.859
7/31/2017 12:00:00 AM 10242.636
8/31/2017 12:00:00 AM 10188.747
9/30/2017 12:00:00 AM 10229.789
10/31/2017 12:00:00 AM 10260.324
11/30/2017 12:00:00 AM 10270.44
12/31/2017 12:00:00 AM 10252.527
1/31/2018 12:00:00 AM 10304.307
2/28/2018 12:00:00 AM 10345.586
3/31/2018 12:00:00 AM 10369.709
4/30/2018 12:00:00 AM 10410.436
5/31/2018 12:00:00 AM 10422.629
6/30/2018 12:00:00 AM 10453.509
7/31/2018 12:00:00 AM 10497.173
8/31/2018 12:00:00 AM 10524.168
9/30/2018 12:00:00 AM 10516.634
10/31/2018 12:00:00 AM 10513.019
11/30/2018 12:00:00 AM 10486.534
12/31/2018 12:00:00 AM 10465.969
1/31/2019 12:00:00 AM 10562.777
2/28/2019 12:00:00 AM 10653.707
3/31/2019 12:00:00 AM 10667.507
4/30/2019 12:00:00 AM 10736.491
5/31/2019 12:00:00 AM 10734.331
6/30/2019 12:00:00 AM 10754.25
7/31/2019 12:00:00 AM 10803.877
8/31/2019 12:00:00 AM 10848.048
9/30/2019 12:00:00 AM 10890.341
10/31/2019 12:00:00 AM 10912.982
11/30/2019 12:00:00 AM 10958.668

Net Asset Values

Historical distributions

Ex-Date Income Dividend Capital Gains - Short Term Capital Gains - Long Term
12/19/2018 0.1114 0
02/04/2019 0.0045
03/04/2019 0.0228
04/02/2019 0.0139
05/02/2019 0.018
06/04/2019 0.0084
07/02/2019 0.0058
08/02/2019 0.0307
09/04/2019 0.0089
10/02/2019 0.0108
11/04/2019 0.0617
12/03/2019 0.0139

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 11/30/2019

Updated Monthly

Company Weight
Fannie Mae 3.500% 1-Dec-2099 3.96%
TREASURY BILL 12/19 0.00000 0.010% 31-Dec-2019 2.29%
France Treasury Bill BTF 0.010% 11-Dec-2019 2.22%
Fannie Mae 3.500% 1-Dec-2099 1.72%
TREASURY BILL 01/20 0.00000 0.010% 23-Jan-2020 1.62%
Morgan Stanley Options Cash Collateral 1.46%
TREASURY BILL 01/20 0.00000 0.010% 9-Jan-2020 1.24%
Japan Treasury Discount Bill 0.010% 2-Dec-2019 1.04%
JAPAN TREASURY DISC BILL BILLS 12/19 0.00000 0.010 1.02%
United States Treasury Bills 2.020% 19-Dec-2019 0.76%

Sector weightings

As of 10/31/2019

Updated Monthly

Sector Weighting
High Yield 20.82%
Residential Mortgage Backed 20.12%
Uncategorized 19.22%
Net Cash & Equivalents 18.46%
Developed Govt/Govt-Related 11.55%
Commercial Mortgage Backed 6.12%
Investment Grade Credit 2.06%
Asset Backed 1.26%
Emerging Markets Debt 0.38%

Regional allocationsθ

As of 10/31/2019

Updated Monthly

Region Allocation
North America 90.29%
Europe 6.60%
Asia 2.77%
Middle East 0.34%
Africa 0.00%
Latin America 0.00%

Quality ratingsƩ

As of 10/31/2019

Updated Monthly

Quality rating % of market value
AAA 45.69%
AA 2.91%
A 2.26%
BBB 8.66%
BB 20.80%
B 17.79%
CCC & Below 0.75%
Unrated 1.13%

Country of risk✻✻

As of 06/30/2019

Updated quarterly

Country of risk % NAV Fund Benchmark Active
United States 81.55 100.00 18.45
Canada 3.18 0.00 3.18
France 3.00 0.00 3.00
United Kingdom 2.22 0.00 2.22
Germany 2.17 0.00 2.17
Belgium 1.65 0.00 1.65
Japan 1.58 0.00 1.58
Netherlands 1.55 0.00 1.55
Ireland 0.80 0.00 0.80
Italy 0.71 0.00 0.71

Currency exposure§

As of 06/30/2019

Updated quarterly

Currency exposure (%) Fund Benchmark Active
U.S. Dollar 89.68 0.00 89.68
Euro 8.91 0.00 8.91
Japanese Yen 1.40 0.00 1.40

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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