Emerging Markets Fund
Data updated: 2026-09-25
C000004232 — Emerging Markets Fund. Emerging Markets Large Cap Blend / Core Equity · $1.17B AUM. Holdings, fees, performance and SEC filings.
C000004232 Fund Overview
Emerging Markets Fund is a US mutual fund managed by Russell Investment CO, categorised as Emerging Markets Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Russell Investment CO
- Category: Emerging Markets Large Cap Blend / Core Equity
- Assets under management: $1.17B
- SEC CIK: 0000351601
- SEC series ID: S000001569
- Share class ID: C000004232
C000004232 Investment Objective and Strategy
Emerging Markets Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Russell Investment CO.
Investment objective
The Fund seeks to provide long term capital growth.
Principal investment strategy
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 emerging market companies. The Fund principally invests in equity securities, including common stock and preferred stock of companies that are economically tied to emerging market countries and in depositary receipts. The Fund considers emerging market countries to include every country in the world except Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States. The Fund invests in large, medium and small capitalization companies. The Funds securities are denominated principally in foreign currencies and are typically held outside the U.S.
A portion of the Funds net assets may be illiquid securities. Russell Investment Management, LLC (RIM) provides or oversees the provision of all investment advisory and portfolio management services for the Fund. The Funds assets are managed by RIM and multiple money managers unaffiliated with RIM pursuant to a multi-style (e.g., growth, value and market-oriented) and multi-manager approach. The Fund employs discretionary and non-discretionary money managers. The Funds discretionary money managers select the individual portfolio instruments for the assets assigned to them. The Funds non-discretionary money managers provide a model portfolio to RIM representing their investment recommendations, based upon which RIM purchases and sells securities for the Fund. RIM manages Fund assets not allocated to money manager strategies and utilizes quantitative and/or rules-based processes and qualitative analysis to assess Fund characteristics and invest in securities and instruments which provide the desired exposures.
RIM may use strategies based on indexes. RIM also manages the portion of Fund assets for which the Fund's non-discretionary money managers provide model portfolios and the Fund's cash balances. The Fund usually, but not always, pursues a strategy to be fully invested by exposing all or a portion of its cash to the performance of appropriate markets by purchasing equity securities and/or derivatives, which typically include index futures contracts and forward currency contracts. The Fund may use derivatives, including stock options, country index futures and swaps or currency forwards, to (1) manage country and currency exposure as a substitute for holding securities directly or (2) facilitate the implementation of its investment strategy. The Fund may use derivatives to take both long and short positions.
The Fund may invest in synthetic foreign equity securities, which may be referred to as international warrants, local access products, participation notes or low exercise price warrants. International warrants are a form of derivative security issued by foreign banks that either give holders the right to buy or sell an underlying security or securities for a particular price or give holders the right to receive cash payment relating to the value of the underlying security or securities. Local access products are similar to options in that they are exercisable by the holder for an underlying security or the value of that security, but are generally exercisable over a longer term than typical options. The Fund may at times seek to protect a portion of its investments against adverse currency exchange rate changes by purchasing forward currency contracts and may engage in currency transactions for speculative purposes.
The Fund may invest in other investment companies and pooled investment vehicles. Please refer to the Investment Objective and Investment Strategies section in the Fund's Prospectus for further information.
C000004232 Holdings
Top 10 holdings of Emerging Markets Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | 8.88% |
| Samsung Electronics Co Ltd | 7.00% |
| SK hynix Inc | 4.84% |
| Russell Investments Trust Company Commingled Employee Benefit Funds Trust-U.S. Cash Management Fund | 3.22% |
| Tencent Holdings Ltd | 2.22% |
| Delta Electronics Inc | 1.56% |
| Alibaba Group Holding Ltd | 1.54% |
| MediaTek Inc | 1.51% |
| Contemporary Amperex Technology Co Ltd | 1.14% |
| Hon Hai Precision Industry Co Ltd | 0.88% |
C000004232 Portfolio Allocation
Asset-class allocation of Emerging Markets Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 95.6% |
| Cash & Equivalents | 3.2% |
| Derivatives | 0.3% |
C000004232 Costs and Fees
C000004232 costs about $150 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.50%
- Gross expense ratio: 1.78%
- Portfolio turnover: 57%
- Brokerage commissions: 10.27 bps of average net assets (SEC N-CEN)
C000004232 Cashflows
Over the 12 months to 2026-04, Emerging Markets Fund had net inflows of $126.79M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$43.15M |
| 2026-03 | $2.62M |
| 2026-02 | −$17.57M |
| 2026-01 | −$50.17M |
| 2025-12 | $339.87M |
| 2025-11 | −$20.65M |
C000004232 Debt Constituents
No individual debt constituents are reported in Emerging Markets Fund's latest SEC N-PORT filing.
C000004232 Prospectus and SEC Filings
Official Emerging Markets Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-27
- Prospectus (485BPOS) — filed 2025-02-28
- Prospectus (485BPOS) — filed 2024-02-28
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-22
- Portfolio holdings (N-PORT) — filed 2026-03-26
- Annual census (N-CEN) — filed 2026-01-09
- Annual census (N-CEN) — filed 2025-01-10
Related Funds
Other Emerging Markets Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.