Tax-Managed International Equity Fund
RUSSELL INVESTMENT CO · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Tax-Managed International Equity Fund is an actively managed developed international equity fund.
- Asset class
- Equity
- Region
- Developed international
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
The Fund seeks to provide long-term capital growth on an after-tax basis.
The fund invests at least 40% of assets in equity securities of non-U.S. companies across developed and emerging markets, with the remainder in U.S. equities, using a multi-manager approach where Russell Investment Management allocates assets among external managers employing different styles and quantitative strategies. The fund typically holds stocks long-term to qualify for long-term capital gains treatment but may realize short-term gains when appropriate. Because the fund's money managers provide non-binding model portfolios that Russell then executes, the fund's actual holdings and performance depend on Russell's implementation decisions and asset allocation choices.
| Share class | Gross | Net |
|---|---|---|
| RTNAX | 1.36% | 1.29% |
| RTNCX | 2.11% | 2.04% |
| RTNSX | 1.11% | 1.04% |
| RTIUX | 1.11% | 0.94% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 29.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 95.89% |
| Cash & short-term | 2.26% |
| Derivatives | -0.03% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: Reckitt Benckiser Group PLC, Roche Holding AG, Saipem SpA, ICE Futures U.S., Inc., The Montreal Exchange/Bourse De Montreal, First Abu Dhabi Bank PJSC, Dr Ing hc F Porsche AG, Osaka Exchange
Largest exited: Reckitt Benckiser Group PLC, Roche Holding AG, ICE Futures U.S., Inc., Chicago Mercantile Exchange, Flutter Entertainment PLC, Osaka Exchange, James Hardie Industries PLC, NAVER Corp
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +28.42% | -56.74% | -90.54% | 15.57% | -67.74% | |
| +27.53% | +46.67% | +30.90% | 15.62% | -11.63% | |
| +28.81% | +51.16% | +37.64% | 15.64% | -11.43% | |
| +28.83% | +51.54% | +38.23% | 15.55% | -11.34% |
These classes hold the same portfolio, so the 128.77pp spread over 5 years is the cost difference between them — roughly 25.75pp a year — not a difference in what they own.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Taiwan Semiconductor Manufacturing Co Ltd | 4.11% | $67.89 | $233.24M | 3.4M |
| — | Russell Investments Trust Company Commingled Employee Benefit Funds Trust-U.S. Cash Management Fund | 2.26% | — | $128.11M | — |
| — | Samsung Electronics Co Ltd | 2.24% | $151.71 | $127.24M | 838.7K |
| — | Tencent Holdings Ltd | 1.77% | $60.72 | $100.55M | 1.7M |
| — | Alibaba Group Holding Ltd | 1.50% | $16.43 | $85.00M | 5.2M |
| TSM | Taiwan Semiconductor Manufacturing Co LtdTSM | 1.25% | $396.06 | $70.74M | 178.6K |
| — | SK hynix Inc | 1.11% | $879.97 | $62.83M | 71.4K |
| — | UBS Group AG | 1.02% | $44.55 | $58.13M | 1.3M |
| — | Shell PLC | 0.96% | $45.34 | $54.35M | 1.2M |
| — | Nokia Oyj | 0.79% | $12.56 | $44.99M | 3.6M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 17.01% of net assets, top 25 25.37%, across 827 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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