<PAGE>
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form.
Please print or type.
1. Name and address of issuer:
Frank Russell Investment Company
909 A Street
Tacoma, WA 98402
2. Name of each series or class of securities for which this Form is filed
(leave this item blank if the Form is being filed for all series and
classes of securities of the issuer):
See attached Exhibit A
3. Investment Company Act File Number: 811-3153
Securities Act File Number: 2-71299
4(a). Last day of fiscal year for which this Form is filed:
12/31/98
4(b). [_] Check box if this Form is being filed late (i.e., more than 90 days
after the end of the issuer's fiscal year). N/A
Note: If the Form is being filed more than 90 days after the end of
the issuer's fiscal year, interest must be paid on the registration fee
due.
4(c). [_] Check box if this is the last time the issuer will be filing this
Form. N/A
5. Calculation of registration fee:
(i) Aggregate sale price of securities
sold during the fiscal year pursuant
to section 24(f): $18,912,874,936
(see attached Exhibit B) ---------------
(ii) Aggregate price of securities
redeemed or repurchased during
<PAGE>
the fiscal year (see Exhibit C) ($16,430,674,921)
----------------
(iii) Aggregate price of securities
redeemed or repurchased during any
prior fiscal year ending no earlier
than October 11, 1995 that were not
previously used to reduce
registration fees payable to the
Commission: $ 3,377,811
----------------
(iv) Total available redemption credits
[add Items 5(ii) and 5(iii)]: $ 16,434,052,732
----------------
(v) Net sales -- if Item 5(i) is greater
than Item 5(iv) [subtract Item 5(iv)
from Item 5(i)]: $ 2,478,822,204
----------------
(vi) Redemption credits available for use
in future years -- if Item 5(i) is
less than Item 5(iv) [subtract Item
5(iv) from Item 5(i) $( 0)
----------------
(vii) Multiplier for determining
registration fee (See Instruction
C.8): x .000278
----------------
(viii) Registration fee due [multiply Item
5(v) by Item 5(vii)] (enter "0" if
no fee is due): =$ 689,113
================
6. Prepaid Shares
If the response to Item 5(I) was determined by deducting an amount of
securities that were registered under the Securities Act of 1933 pursuant
to rule 24e-2 as in effect before October 11, 1997, then report the amount
of securities (number of shares or other units) deducted here: 0. If there
is a number of shares or other units that were registered pursuant to rule
24e-2 remaining unsold at the end of the fiscal year for which this form is
filed that are available for use by the issuer in future fiscal years, then
state that number here: 0.
7. Interest due -- if this Form is being filed more than 90 days after the end
of the issuer's fiscal year (see instruction D):
+$ 0
----------------
8. Total amount of the registration fee due plus any interest due [Item 5(vii)
plus Item 7]:
$ 689,113
================
<PAGE>
9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository: March 12, 1999
Account Number: 0000351601
Method of Delivery:
X Wire transfer
[_] Mail or other means
SIGNATURES
This Form has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ Rick Chase, Assistant Treasurer
-----------------------------------
Rick Chase, Assistant Treasurer
Dated: March,17,1999
* Please print the name and title of the signing officer below the signature.
<PAGE>
EXHIBIT A
Fund
Equity I
Equity II
Equity III
Equity Q
Fixed I
Fixed II
Fixed III
International
Emerging Markets (Class S)
Emerging Markets (Class E)
Equity T
Money Market
Diversified Equity (Class S)
Diversified Equity (Class E)
Special Growth (Class S)
Special Growth (Class E)
Equity Income (Class S)
Equity Income (Class E)
Quantitative Equity (Class S)
Quantitative Equity (Class E)
Diversified Bond (Class S)
Diversified Bond (Class E)
Volatility Constrained Bond
Multistrategy Bond (Class S)
Multistrategy Bond (Class E)
International Securities (Class S)
International Securities (Class E)
Limited Volatility Tax Free
Real Estate Securities (Class S)
Real Estate Securities (Class E)
U.S. Gov't Money Market
Tax Free Money Market
Equity Balanced Strategy (Class E)
Equity Balanced Strategy (Class D)
Aggressive Strategy (Class E)
Aggressive Strategy (Class D)
Balanced Strategy (Class E)
Balanced Strategy (Class D)
Moderate Strategy (Class E)
Moderate Strategy (Class D)
Conservative Strategy (Class E)
Conservative Strategy (Class D)
<PAGE>
EXHIBIT B
<TABLE>
<CAPTION>
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Fund Number of Aggregate Sale Number of Dollars Aggregate Sale
Shares Price of Shares Reinvested Price of
Securities (B) Securities
Sold Sold
(A) [(A)+(B)]
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
<S> <C> <C> <C> <C> <C>
Equity I 11,649,184 $ 382,854,757 2,804,239 $91,197,768 $474,052,525
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Equity II 6,590,024 209,065,456 1,013,507 30,141,042 239,206,498
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Equity III 1,912,599 57,633,142 832,353 23,877,076 81,510,218
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Equity Q 7,788,647 298,738,895 2,920,742 109,535,351 408,274,246
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Fixed I 18,203,608 398,149,172 2,497,093 54,549,439 452,698,611
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Fixed II 6,088,176 112,706,722 604,269 11,141,453 123,848,175
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Fixed III 20,310,407 212,962,809 3,397,977 35,268,436 248,231,245
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
International 8,855,148 330,797,414 756,486 27,769,744 358,567,158
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Emerging Markets (Class S) 22,508,124 221,963,938 188,272 2,070,086 224,034,024
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Emerging Markets (Class E) 4,558 37,476 0 0 37,476
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Equity T 10,018,318 157,138,235 66,849 1,141,887 158,280,122
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Money Market 12,024,642,035 12,024,642,035 17,841,290 17,841,290 12,042,483,325
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Diversified Equity (Class S) 9,507,360 448,918,371 1,274,778 59,998,451 508,916,822
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Diversified Equity (Class E) 123,298 5,594,638 5,379 256,859 5,851,497
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Special Growth (Class S) 6,148,876 275,512,884 617,896 25,944,325 301,457,209
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Special Growth (Class E) 98,025 4,007,960 5,154 203,264 4,211,224
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Equity Income (Class S) 2,229,736 93,207,934 512,914 20,628,554 113,836,488
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Equity Income (Class E) 22,270 939,959 547 21,592 961,551
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Quantitative Equity (Class S) 10,401,417 411,246,525 1,801,116 71,013,427 482,259,952
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Quantitative Equity (Class E) 135,230 5,166,521 7,334 292,332 5,458,853
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Diversified Bond (Class S) 15,009,860 355,143,003 1,508,462 35,660,201 390,803,204
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Diversified Bond (Class E) 155,188 3,756,794 6,059 145,944 3,902,738
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Volatility Constrained Bond 6,193,655 118,440,273 382,196 7,296,864 125,737,137
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Multistrategy Bond (Class S) 22,246,273 228,941,847 3,444,172 35,248,099 264,189,946
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Multistrategy Bond (Class E) 253,909 2,610,567 8,900 90,421 2,700,988
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
International Securities (Class S) 5,496,045 326,448,206 171,776 10,072,223 336,520,429
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
International Securities (Class E) 59,331 3,346,399 588 34,442 3,380,841
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Limited Volatility Tax Free 3,941,289 83,966,594 140,598 2,994,079 86,960,673
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Real Estate Securities (Class S) 9,286,206 254,638,476 1,114,356 30,225,625 284,864,101
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Real Estate Securities (Class E) 28,391 715,067 375 9,219 724,286
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
U.S. Gov't Money Market 431,194,202 431,194,202 6,806,551 6,806,551 438,000,753
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Tax Free Money Market 367,890,406 367,890,406 3,257,832 3,257,832 371,148,238
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Equity Balanced Strategy (Class E) 9,545,046 86,677,483 150,876 1,443,025 88,120,508
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Equity Balanced Strategy (Class D) 502,893 4,784,572 3,888 36,704 4,821,276
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Aggressive Strategy (Class E) 6,093,738 58,657,811 99,583 955,622 59,613,433
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Aggressive Strategy (Class D) 450,907 4,313,477 5,923 57,363 4,370,840
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Balanced Strategy (Class E) 17,549,534 172,155,708 523,953 5,173,243 177,328,951
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Balanced Strategy (Class D) 504,049 4,926,188 8,520 84,433 5,010,621
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Moderate Strategy (Class E) 2,231,041 22,075,376 44,242 438,860 22,514,236
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Moderate Strategy (Class D) 195,126 1,928,847 4,649 46,186 1,975,033
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Conservative Strategy (Class E) 511,083 5,168,551 9,863 99,711 5,268,262
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Conservative Strategy (Class D) 71,083 722,509 1,849 18,714 741,223
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
Series Total 13,066,646,295 $18,189,787,199 54,843,406 $723,087,737 $18,912,874,936
- -------------------------------------- ---------------- ------------------- ------------ ----------------- -------------------
</TABLE>
<PAGE>
EXHIBIT C
<TABLE>
<CAPTION>
- -------------------------------------------- ----------------------------------- ----------------------------------
Fund Number of Shares Aggregate Price of Securities
Redeemed
- -------------------------------------------- ----------------------------------- ----------------------------------
<S> <C> <C>
Equity I (12,417,244) $(410,285,653)
- -------------------------------------------- ----------------------------------- ----------------------------------
Equity II (4,974,795) (158,755,430)
- -------------------------------------------- ----------------------------------- ----------------------------------
Equity III (3,641,754) (106,697,244)
- -------------------------------------------- ----------------------------------- ----------------------------------
Equity Q (8,992,387) (344,894,334)
- -------------------------------------------- ----------------------------------- ----------------------------------
Fixed I (12,833,370) (281,502,033)
- -------------------------------------------- ----------------------------------- ----------------------------------
Fixed II (5,088,094) (94,296,121)
- -------------------------------------------- ----------------------------------- ----------------------------------
Fixed III (15,209,804) (159,235,867)
- -------------------------------------------- ----------------------------------- ----------------------------------
International (11,065,451) (412,201,782)
- -------------------------------------------- ----------------------------------- ----------------------------------
Emerging Markets (Class S) (16,241,312) (149,674,981)
- -------------------------------------------- ----------------------------------- ----------------------------------
Emerging Markets (Class E) 0 0
- -------------------------------------------- ----------------------------------- ----------------------------------
Equity T (1,253,400) (19,677,370)
- -------------------------------------------- ----------------------------------- ----------------------------------
Money Market (11,363,736,675) (11,363,736,675)
- -------------------------------------------- ----------------------------------- ----------------------------------
Diversified Equity (Class S) (8,070,726) (384,258,751)
- -------------------------------------------- ----------------------------------- ----------------------------------
Diversified Equity (Class E) (18,482) (891,748)
- -------------------------------------------- ----------------------------------- ----------------------------------
Special Growth (Class S) (5,540,547) (242,340,372)
- -------------------------------------------- ----------------------------------- ----------------------------------
Special Growth (Class E) (29,520) (1,255,494)
- -------------------------------------------- ----------------------------------- ----------------------------------
Equity Income (Class S) (2,196,713) (91,318,526)
- -------------------------------------------- ----------------------------------- ----------------------------------
Equity Income (Class E) (13,005) (543,167)
- -------------------------------------------- ----------------------------------- ----------------------------------
Quantitative Equity (Class S) (8,361,539) (332,333,211)
- -------------------------------------------- ----------------------------------- ----------------------------------
Quantitative Equity (Class E) (30,285) (1,233,765)
- -------------------------------------------- ----------------------------------- ----------------------------------
Diversified Bond (Class S) (11,474,358) (272,067,167)
- -------------------------------------------- ----------------------------------- ----------------------------------
Diversified Bond (Class E) (67,274) (1,614,546)
- -------------------------------------------- ----------------------------------- ----------------------------------
Volatility Constrained Bond (5,018,016) (95,986,490)
- -------------------------------------------- ----------------------------------- ----------------------------------
Multistrategy Bond (Class S) (14,104,976) (145,115,530)
- -------------------------------------------- ----------------------------------- ----------------------------------
Multistrategy Bond (Class E) (4,393) (45,170)
- -------------------------------------------- ----------------------------------- ----------------------------------
International Securities (Class S) (5,562,388) (329,404,773)
- -------------------------------------------- ----------------------------------- ----------------------------------
International Securities (Class E) (10,159) (590,863)
- -------------------------------------------- ----------------------------------- ----------------------------------
Limited Volatility Tax Free (1,973,744) (42,054,115)
- -------------------------------------------- ----------------------------------- ----------------------------------
Real Estate Securities (Class S) (6,759,461) (178,741,546)
- -------------------------------------------- ----------------------------------- ----------------------------------
Real Estate Securities (Class E) (6,530) (183,042)
- -------------------------------------------- ----------------------------------- ----------------------------------
U.S. Gov't Money Market (459,188,993) (459,188,993)
- -------------------------------------------- ----------------------------------- ----------------------------------
Tax Free Money Market (307,204,928) (307,204,928)
- -------------------------------------------- ----------------------------------- ----------------------------------
Equity Balanced Strategy (Class E) (702,666) (6,451,224)
- -------------------------------------------- ----------------------------------- ----------------------------------
Equity Balanced Strategy (Class D) (4,767) (46,096)
- -------------------------------------------- ----------------------------------- ----------------------------------
Aggressive Strategy (Class E) (517,340) (4,851,955)
- -------------------------------------------- ----------------------------------- ----------------------------------
Aggressive Strategy (Class D) (90,064) (785,915)
- -------------------------------------------- ----------------------------------- ----------------------------------
Balanced Strategy (Class E) (2,524,583) (24,860,634)
- -------------------------------------------- ----------------------------------- ----------------------------------
Balanced Strategy (Class D) (23,373) (221,189)
- -------------------------------------------- ----------------------------------- ----------------------------------
Moderate Strategy (Class E) (485,375) (4,821,156)
- -------------------------------------------- ----------------------------------- ----------------------------------
Moderate Strategy (Class D) (24,489) (242,881)
- -------------------------------------------- ----------------------------------- ----------------------------------
Conservative Strategy (Class E) (92,535) (935,823)
- -------------------------------------------- ----------------------------------- ----------------------------------
Conservative Strategy (Class D) (12,685) (128,361)
- -------------------------------------------- ----------------------------------- ----------------------------------
- -------------------------------------------- ----------------------------------- ----------------------------------
Series Total (12,295,568,200) $(16,430,674,921)
- -------------------------------------------- ----------------------------------- ----------------------------------
</TABLE>
