Tax-Managed International Equity Fund

C000152722 Fund Overview

Tax-Managed International Equity Fund is a US mutual fund managed by Russell Investment CO, categorised as Developed ex-US Multi-Cap / All-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: Developed ex-US Multi-Cap / All-Cap Blend / Core Equity
• Assets under management: $5.80B
• SEC CIK: 0000351601
• SEC series ID: S000048355
• Share class ID: C000152722

C000152722 Investment Objective and Strategy

Tax-Managed International Equity 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 on an after-tax basis.

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 equity securities. The Fund 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, and in depositary receipts. The Funds securities are denominated principally in foreign currencies and are typically held outside the U.S. The Funds investments span most of the developed nations of the world to maintain a high degree of diversification among countries and currencies. Under normal market conditions, 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. The Fund may also invest in equity securities of U.S. companies. The Fund considers the following countries to have developed markets: 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. As a general rule, the Fund considers emerging market countries to include every other country. The Fund invests principally in large and medium capitalization companies, but may also invest in small capitalization companies. The Fund defines large and medium capitalization stocks as stocks of those companies represented by the MSCI ACWI ex USA Index or within the capitalization range of the MSCI ACWI ex USA Index.

The Fund seeks to realize capital growth while considering shareholder tax consequences arising from the Funds portfolio management activities. The Fund typically buys stocks with the intention of holding them long enough to qualify for long-term capital gains tax treatment. Stocks may, however, be sold at a point where short-term capital gains are realized if the Fund believes it is most appropriate in that case to do so or as a result of redemption activity. Russell Investment Management, LLC (RIM) provides or oversees the provision of all investment advisory and portfolio management services for the Fund. The Fund is managed pursuant to a multi-style (e.g., growth, value, market-oriented, defensive and dynamic) and multi-manager approach. The Fund's money managers are unaffiliated with RIM and have non-discretionary asset management assignments pursuant to which they provide a model portfolio to RIM representing their investment recommendations, based upon which RIM purchases and sells securities for the Fund.

For Fund assets not allocated to money manager strategies, RIM 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 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 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. Please refer to the Investment Objective and Investment Strategies section in the Fund's Prospectus for further information.

C000152722 Holdings

Top 10 holdings of Tax-Managed International Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000152722 holdings

C000152722 Portfolio Allocation

Asset-class allocation of Tax-Managed International Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000152722 Costs and Fees

C000152722 costs about $129 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.29%
• Gross expense ratio: 1.41%
• Portfolio turnover: 29%
• Brokerage commissions: 5.10 bps of average net assets (SEC N-CEN)

C000152722 Cashflows

Over the 12 months to 2026-04, Tax-Managed International Equity Fund had net inflows of $182.32M, from monthly SEC N-PORT filings.

C000152722 Debt Constituents

No individual debt constituents are reported in Tax-Managed International Equity Fund's latest SEC N-PORT filing.

C000152722 Prospectus and SEC Filings

Official Tax-Managed International Equity 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 Developed ex-US Multi-Cap / All-Cap Blend / Core Equity funds tracked on ABC INVEST:

• SPDR Portfolio Developed World ex- US ETF (SPDW)
• Dimensional International Core Equity Market ETF (DFAI)
• Dimensional International Core Equity 2 ETF (DFIC)
• iShares MSCI EAFE Small-Cap ETF (SCZ)
• Dimensional World ex U.S. Core Equity 2 ETF (DFAX)

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.