Russell conducted the current Investment Manager Outlook between November 27 and December 5, 2006. The manager research that Russell conducts for investment purposes is done entirely independent of the Investment Manager Outlook, and responses to the survey are on a purely voluntary basis.
About Russell Russell Investment Group, a global leader in multi-manager investing, provides investment products and services in more than 44 countries. Russell manages more than $180 billion in assets as of September 30, 2006, and advises clients worldwide representing more than $2.4 trillion.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Sydney, Singapore, Auckland and Tokyo.
Contacts:
Matt Burkhard, 718-875-2122
Jennifer Tice, 253-439-1858
Forecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.
Index returns represent past performance and should not be viewed as a representation of future performance of any investment or the stock market.
Large capitalization (large cap) growth stocks are securities which fall into the Russell Top 200® Index. This index consists of the top 200 securities in the Russell 1000® Index, as ranked by total market capitalization. This "Blue Chip" large capitalization index represents approximately 35% of the Russell 1000® total market capitalization. As of the latest reconstitution, the average market capitalization was approximately $48.0 billion; the median market capitalization was approximately $27.2 billion. The index had a total market capitalization range of approximately $368.5 billion to $14.9 billion. Growth stocks tend to exhibit higher price-to-book and price-earnings ratio, lower dividend yields and higher forecasted growth levels.
Value investments focus on stocks of income-producing companies whose price is low relative to one or more valuation factors, such as earnings or book value. Such investments are subject to risks that their intrinsic values may never be realized by the market, or, such stock may turn out not to have been undervalued. Investors should carefully consider the additional risks involved in value investments.
Growth investments focus on stocks of companies whose earnings/profitability are accelerating in the short term or have grown consistently over the long term. Such investments may provide minimal dividends which could otherwise cushion stock prices in a market decline. Stock value may rise and fall significantly base, in part, on investors' perceptions of the company, rather than on fundamental analysis of the stocks. Investors should carefully consider the additional risks involved in growth investments.
Non-US markets entail different risks than those typically associated with US markets, including currency fluctuations, political and economic instability, accounting changes, and foreign taxation. Securities may be less liquid and more volatile. If applicable, please see a Prospectus for further detail.
Investments in emerging or developing markets involve exposure to economic structures that are generally less diverse and mature, and to political systems which can be expected to have less stability than those of more developed countries. Securities may be less liquid and more volatile than US and longer-established non-US markets.
Bond investors should carefully consider risks such as interest rate risk, credit risk, securities lending, repurchase and reverse repurchase transaction risk. Greater risk is inherent in portfolios that invest primarily in high yield bonds. They are subject to additional risks, such as limited liquidity and increased volatility.
Technology companies primarily serve the electronics and computer industries or that manufacture products based on the latest applied science.
Health care companies are involved in medical services or health care including biotechnology research and production, drugs and pharmaceuticals, and health care facilities and services.
Russell 3000® Index measures the performance of the 3,000 largest U.S. securities based on total market capitalization.
Russell 3000® Technology Index is a benchmark of the Russell 3000® Index including only technology sector securities.
Russell Investment Group, a Washington, USA corporation, operates through subsidiaries worldwide.
Russell Investment Group is a subsidiary of The Northwestern Mutual Life Insurance Company.
Russell Investment Group is the owner of the trademarks, service marks and copyrights related to its indexes.
RFD# 06-6389 First used: December 2006
Securities distributed through Russell Fund Distributors, Inc. member NASD, part of Russell Investment Group.
This is a publication of Russell Investments. Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an
opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.
Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company.
