Russell Inv Tax-Managed Intl Eq S (Tax-Managed International Equit) Fonds

The fund has a non-fundamental policy to invest, under normal circumstances, at least 80% of the value of its net assets plus borrowings for investment purposes in equity securities. It invests principally in equity securities, including common stocks and preferred stocks, issued by companies economically tied to non-U.S. countries, including emerging market countries. The fund will invest at least 40%, and may invest up to 100%, of its assets in equity securities economically tied to non-U.S. countries. It may also invest in equity securities of U.S. companies.