Multi-Strategy Income Fund
Data updated: 2026-09-25
C000152726 — Multi-Strategy Income Fund. Income Allocation · $297.03M AUM · 1.03% expense ratio. Holdings, fees, performance and SEC filings.
C000152726 Fund Overview
Multi-Strategy Income Fund is a US mutual fund managed by Russell Investment CO, categorised as Income Allocation. 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: Income Allocation
- Assets under management: $297.03M
- SEC CIK: 0000351601
- SEC series ID: S000048356
- Share class ID: C000152726
C000152726 Investment Objective and Strategy
Multi-Strategy Income 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 a high level of current income and,
Principal investment strategy
The Fund seeks to achieve its investment objective by principally investing in a range of diversified income-producing investments. The Fund will typically pursue strategies and invest in instruments which have historically produced a significant portion of their total return from income. The Fund may invest in a broad range of instruments, markets and asset classes economically tied to U.S., non-U.S. and emerging markets countries. The Fund will generally invest 25% to 75% of its assets in equity or equity-related securities or instruments and 25% to 75% of its assets in fixed income or fixed income related securities or instruments. The Funds equity investments may include equity securities of real assets-related companies, including real estate-, infrastructure- and commodity-related companies.
A real asset is a tangible or physical asset that typically has intrinsic value. Examples of real assets include land, property, equipment, raw materials or infrastructure. The Fund may also make investments for hedging purposes in order to address perceived misalignment between the Funds investment exposures and current or anticipated market conditions. 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. 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-asset, 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 Funds non-discretionary money managers provide model portfolios to RIM and the Funds cash balances. The Fund may invest in equity securities of issuers of any market capitalization which are economically tied to U.S. and non-U.S. countries, including emerging markets countries. These securities may include common stock, preferred stocks, rights, warrants, convertible securities, securities issued in connection with initial public offerings and depositary receipts. The Fund may invest in securities of companies, known as real estate investment trusts (REITs) that own and/or manage properties. The Fund may invest in infrastructure companies and master limited partnerships (MLPs). The Fund may also invest in fixed income securities of any credit quality and maturity, including fixed income securities that are rated below investment grade (commonly referred to as high yield or junk bonds).
The Fund may also invest in (1) U.S. and non-U.S. corporate fixed income securities, (2) fixed income securities issued or guaranteed by the U.S. government (including Treasury Inflation Protected Securities) and by non-U.S. governments, or by their respective agencies and instrumentalities, (3) emerging markets debt securities, (4) mortgage-backed securities and (5) asset-backed securities. The Fund may also invest in variable and floating rate securities. The Fund may invest in demand notes. The Fund may purchase loans and other direct indebtedness, including bank loans (also called leveraged loans). The Fund may invest in currency futures and options on futures, forward currency contracts and currency options for speculative purposes or to seek to protect a portion of its investments against adverse currency exchange rate changes.
The Fund may invest in derivative instruments including futures, options, swaps, swaptions and credit default swaps, and may use derivatives to take both long and short positions. The Fund may invest in other investment companies and pooled investment vehicles. A portion of the Funds net assets may be illiquid securities. The Fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. The Fund may expose all or a portion of its cash to the performance of certain markets by purchasing equity securities, fixed income securities and/or derivatives, which typically include index futures contracts or exchange traded fixed income futures contracts. Please refer to the Investment Objective and Investment Strategies section in the Funds Prospectus for further information.
C000152726 Holdings
Top 10 holdings of Multi-Strategy Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Russell Investments Trust Company Commingled Employee Benefit Funds Trust-U.S. Cash Management Fund | 14.73% |
| Real Alloy Holding Inc | 1.06% |
| Microsoft Corp | 1.01% |
| Apple Inc | 0.96% |
| Taiwan Semiconductor Manufacturing Co Ltd | 0.88% |
| Welltower Inc | 0.79% |
| NVIDIA Corp | 0.78% |
| Samsung Electronics Co Ltd | 0.64% |
| Chicago Mercantile Exchange | 0.62% |
| Alphabet Inc | 0.58% |
C000152726 Portfolio Allocation
Asset-class allocation of Multi-Strategy Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 56.9% |
| Fixed Income | 24.8% |
| Cash & Equivalents | 14.7% |
| Derivatives | 0.9% |
C000152726 Costs and Fees
C000152726 costs about $103 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.03%
- Gross expense ratio: 1.37%
- Portfolio turnover: 95%
- Brokerage commissions: 6.93 bps of average net assets (SEC N-CEN)
C000152726 Cashflows
Over the 12 months to 2026-04, Multi-Strategy Income Fund had net outflows of $16.38M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$388.66K |
| 2026-03 | −$3.19M |
| 2026-02 | $104.14K |
| 2026-01 | −$2.46M |
| 2025-12 | $1.69M |
| 2025-11 | −$4.37M |
C000152726 Debt Constituents
Largest debt holdings of Multi-Strategy Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Sea Ltd. | 0.34% |
| Biomarin Pharmaceutical | 0.34% |
| Dexcom, Inc. | 0.34% |
| Conmed Corp. | 0.33% |
| Teladoc Health, Inc. | 0.33% |
| Shift4 Payments, Inc. | 0.33% |
| Enphase Energy, Inc. | 0.32% |
| Cryoport, Inc. | 0.32% |
| Rexford Industrial Realt | 0.32% |
| Match Group Financeco 3 | 0.31% |
C000152726 Prospectus and SEC Filings
Official Multi-Strategy Income 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 Income Allocation 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.