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LIFEPOINTS FUNDS CLASSES C, D, E AND S
LIFEPOINTS FUNDS CLASS C
INSTITUTIONAL FUNDS CLASS Y
INSTITUTIONAL FUNDS CLASSES E AND I
RUSSELL FUNDS CLASSES C, E AND S
FRANK RUSSELL INVESTMENT COMPANY
SUPPLEMENT DATED MARCH 9, 2000 TO
PROSPECTUSES DATED MAY 1, 1999 AND NOVEMBER 30, 1999
The following information supplements all Prospectuses of Frank Russell
Investment Company set forth above, which are dated May 1, 1999 and November 30,
1999, although not all information pertains to every Fund.
MONEY MANAGERS
THE EQUITY I, DIVERSIFIED EQUITY, EQUITY II, SPECIAL GROWTH, EQUITY
III, EQUITY INCOME, EQUITY Q, QUANTITATIVE EQUITY, FIXED INCOME III,
MULTISTRATEGY BOND, EMERGING MARKETS AND REAL ESTATE SECURITIES FUNDS ARE
MANAGED BY THE FOLLOWING MONEY MANAGERS:
EQUITY I AND DIVERSIFIED EQUITY FUNDS
ALLIANCE CAPITAL MANAGEMENT L.P., 601 2nd Ave. South, Suite 5000,
Minneapolis, MN 55402-4322.
BARCLAYS GLOBAL FUND ADVISORS, 45 Fremont Street, 17th Floor, San
Francisco, CA 94105.
EQUINOX CAPITAL MANAGEMENT, LLC, 590 Madison Avenue, 41st Floor, New York,
NY 10022.
JACOBS LEVY EQUITY MANAGEMENT, INC., 280 Corporate Center, 3 ADP Boulevard,
Roseland, NJ 07068.
MARSICO CAPITAL MANAGEMENT, LLC, 1200 17th Street, Suite 1300, Denver, CO
80202.
PEACHTREE ASSET MANAGEMENT, One Peachtree Center, Suite 4500, 303 Peachtree
Street N.E., Atlanta, GA 30308.
SANFORD C. BERNSTEIN & CO., INC., 767 Fifth Avenue, 21st Floor, New York,
NY 10153-0185.
STRONG CAPITAL MANAGEMENT, INC., 100 Heritage Reserve, Menomonee Falls, WI
53051.
SUFFOLK CAPITAL MANAGEMENT, INC., 1633 Broadway, 40th Floor, New York, NY
10019.
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TURNER INVESTMENT PARTNERS INC., 1235 Westlakes Drive, Suite 350, Berwyn,
PA 19312.
WESTPEAK INVESTMENT ADVISORS, L.P., 1011 Walnut Street, Suite 400, Boulder,
CO 80302.
EQUITY II AND SPECIAL GROWTH FUNDS
CAPITALWORKS INVESTMENT PARTNERS, LLC, 401 West "A" Street, Suite 1675,
San Diego, CA 92101. (Beginning on or about April 10, 2000.)
DELPHI MANAGEMENT, INC., 50 Rowes Wharf, Suite 440, Boston, MA 02110.
FIDUCIARY TRUST COMPANY INTERNATIONAL, INC., 2 World Trade Center, New
York, NY 10048-0772.
GLOBEFLEX CAPITAL, L.P., 4365 Executive Drive, Suite 720, San Diego, CA
92121.
JACOBS LEVY EQUITY MANAGEMENT, INC., See: Equity I and Diversified Equity
Funds.
SIRACH CAPITAL MANAGEMENT, INC., One Union Square, Suite 3323, 600
University Street, Seattle, WA 98101-3142.
WELLINGTON MANAGEMENT COMPANY LLP, 75 State Street, Boston, MA 02109.
WESTPEAK INVESTMENT ADVISORS, L.P., See: Equity I and Diversified Equity
Funds.
EQUITY III AND EQUITY INCOME FUNDS
BARCLAYS GLOBAL FUND ADVISORS, See: Equity I and Diversified Equity Funds.
EQUINOX CAPITAL MANAGEMENT, LLC, See: Equity I and Diversified Equity
Funds.
WESTPEAK INVESTMENT ADVISORS, L.P. See: Equity I and Diversified Equity
Funds.
EQUITY Q AND QUANTITATIVE EQUITY FUNDS
BARCLAYS GLOBAL FUND ADVISORS, See: Equity I and Diversified Equity Funds.
FRANKLIN PORTFOLIO ASSOCIATES LLC, Two International Place, 22nd Floor,
Boston, MA 02110-4104.
JACOBS LEVY EQUITY MANAGEMENT, INC. See: Equity I and Diversified Equity
Funds.
J.P. MORGAN INVESTMENT MANAGEMENT, INC., 522 Fifth Ave., 6th Floor, New
York, NY 10036.
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EMERGING MARKETS FUND
FOREIGN & COLONIAL EMERGING MARKETS LIMITED, Exchange House, Primrose
Street, London, EC2A 2NY England.
GENESIS ASSET MANAGERS LIMITED, 21 Knightsbridge, London SW1X 7LY England.
NICHOLAS-APPLEGATE CAPITAL MANAGEMENT, 600 W. Broadway, 29th Floor, San
Diego, CA 92101.
SANFORD C. BERNSTEIN & CO., INC., See: Equity I and Diversified Equity
Funds.
SCHRODERS INVESTMENT MANAGEMENT NORTH AMERICA LIMITED, 31 Gresham Street,
London EC2V 7QA England.
REAL ESTATE SECURITIES FUND
AEW CAPITAL MANAGEMENT, L.P., 225 Franklin Street, Boston, MA 02110-2803.
COHEN & STEERS CAPITAL MANAGEMENT, INC., 757 Third Avenue, New York, NY
10017.
SECURITY CAPITAL GLOBAL CAPITAL MANAGEMENT GROUP INCORPORATED, 11 South
LaSalle Street, 2nd Floor, Chicago, IL 60603.
FIXED INCOME III AND MULTISTRATEGY BOND FUNDS
LAZARD ASSET MANAGEMENT, 30 Rockefeller Plaza, New York, NY 10112-6300.
MILLER, ANDERSON & SHERRERD, LLP, One Tower Bridge, West Conshohocken, PA
19428-2899.
PACIFIC INVESTMENT MANAGEMENT COMPANY, 840 Newport Center Drive, Suite 360,
Newport Beach, CA 92660.
STANDISH, AYER & WOOD, INC., One Financial Center, Boston, MA 02111.
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Frank Russell Investment Company
Supplement Dated March 9, 2000
To the Statement of Additional Information Dated November 30, 1999
The following information supplements the Statement of Additional Information of
Frank Russell Investment Company dated November 30, 1999.
The following subsections of the section entitled "MONEY MANAGER INFORMATION"
are restated in their entirety to read as follows:
MONEY MANAGER INFORMATION
DIVERSIFIED EQUITY FUND
ALLIANCE CAPITAL MANAGEMENT, L.P. is a limited partnership
whose (i) general partner is a wholly-owned subsidiary of The Equitable
Companies Incorporated ("The Equitable") and (ii) majority unit holder
is ACM, Inc., a wholly-owned subsidiary of The Equitable. As of March
1, 1995, 60.5% of The Equitable was owned by Axa, a French insurance
holding company.
BARCLAYS GLOBAL FUND ADVISORS N.A. is an indirect, wholly-owned
subsidiary of Barclays Bank PLC.
EQUINOX CAPITAL MANAGEMENT, LLC is a registered investment
adviser with majority ownership held by Ron Ulrich.
JACOBS LEVY EQUITY MANAGEMENT, INC. is 100% owned by Bruce
Jacobs and Kenneth Levy.
MARSICO CAPITAL MANAGEMENT, LLC is owned 50% by Marsico
Management Holdings, LLC and 50% by TFM Holdings, LLLP. Marsico
Management Holdings is a wholly-owned subsidiary of NationsBank, N.A.
which in turn is a wholly-owned subsidiary of Bank of America. TFM
Holdings, LLLP is a Colorado limited liability limited partnership
whose sole general partner is TFM Managers, Inc. which is wholly-owned
by Thomas F. Marsico.
PEACHTREE ASSET MANAGEMENT is division of SSBC Fund
Management LLC. SSBC Fund Management is owned 100% by Salomon Smith
Barney Inc. which is a wholly-owned subsidiary of Citigroup Inc.
SANFORD C. BERNSTEIN & CO., INC. is a registered investment
adviser. Bernstein is controlled by its Board of Directors, which
consists of the following individuals: Andrew S. Adelson, Zalman C.
Bernstein, Kevin R. Rine, Charles C.
1
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Cahn, Jr., Marilyn Goldstein Fedak, Michael L. Goldstein, Roger
Hertog, Lewis A. Sanders and Francis H. Trainer, Jr.
STRONG CAPITAL MANAGEMENT, INC. is a corporation controlled
by Richard S. Strong.
SUFFOLK CAPITAL MANAGEMENT, INC. is a registered investment
adviser and a wholly-owned subsidiary of United Asset Management
Company, a publicly traded corporation.
TURNER INVESTMENT PARTNERS INC. is a corporation controlled
by Robert E. Turner.
WESTPEAK INVESTMENT ADVISORS, L.P. is a registered
investment adviser that is directly controlled by Metropolitan Life
Insurance Company.
SPECIAL GROWTH FUND
CAPITALWORKS INVESTMENT PARTNERS, LLC is a limited
liability company controlled by its members who include John D. Wylie,
Jack C. Marshall, Mark J. Correnti and Donovan T. Garcia. (Beginning
on or about April 10, 2000.)
DELPHI MANAGEMENT, INC. is 100% owned by Scott Black.
FIDUCIARY TRUST COMPANY INTERNATIONAL, INC., an investment
adviser registered with the SEC, is an indirect wholly-owned subsidiary
of Fiduciary Trust Company International, a New York state chartered
bank.
GLOBEFLEX CAPITAL, L.P. is a California limited partnership
and an SEC registered investment adviser. Its general partners are
Robert J. Anslow, Jr. and Marina L. Marrelli.
JACOBS LEVY EQUITY MANAGEMENT, INC. See: Diversified Equity Fund.
SIRACH CAPITAL MANAGEMENT, INC. is a wholly-owned
subsidiary of United Asset Management Company, a publicly traded
corporation.
WELLINGTON MANAGEMENT COMPANY, LLP is a private
Massachusetts limited liability partnership of which the following
persons are managing partners: Robert W. Doran, Duncan M. McFarland
and John R. Ryan.
WESTPEAK INVESTMENT ADVISORS, L.P. See: Diversified Equity Fund.
2
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REAL ESTATE SECURITIES FUND
AEW CAPITAL MANAGEMENT, L.P. is a wholly-owned affiliate of
New England Investment Companies, L.P. ("NEIC"). NEIC is a
publicly-held limited partnership. Metropolitan Life Insurance Company,
a publicly held corporation, owns approximately 53% of NEIC. AEW
Capital Management, Inc., a wholly-owned subsidiary of NEIC, is the
general partner, and NEIC is the sole limited partner, of AEW Capital
Management, L.P.
COHEN & STEERS CAPITAL MANAGEMENT, INC. is a corporation
whose two principals, Robert H. Steers and Martin Cohen, control the
corporation within the meaning of the 1940 Act.
SECURITY CAPITAL GLOBAL CAPITAL MANAGEMENT GROUP INCORPORATED
is an indirect wholly-owned subsidiary of Security Capital, a publicly
traded corporation.
EQUITY I FUND
ALLIANCE CAPITAL MANAGEMENT L.P. See: Diversified Equity Fund.
BARCLAYS GLOBAL FUND ADVISORS. See: Diversified Equity Fund.
EQUINOX CAPITAL MANAGEMENT, LLC. See: Diversified Equity Fund.
JACOBS LEVY EQUITY MANAGEMENT, INC. See: Diversified Equity Fund.
MARSICO CAPITAL MANAGEMENT, LLC. See: Diversified Equity Fund.
PEACHTREE ASSET MANAGEMENT. See: Diversified Equity Fund.
SANFORD C. BERNSTEIN & CO., INC. See: Diversified Equity Fund.
STRONG CAPITAL MANAGEMENT, INC. See: Diversified Equity Fund.
SUFFOLK CAPITAL MANAGEMENT, INC. See: Diversified Equity Fund.
TURNER INVESTMENT PARTNERS INC. See: Diversified Equity Fund.
WESTPEAK INVESTMENT ADVISORS, L.P. See: Diversified Equity Fund.
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EQUITY II FUND
CAPITALWORKS INVESTMENT PARTNERS, LLC. See: Special Growth Fund.
(Beginning on or about April 10, 2000.)
DELPHI MANAGEMENT, INC. See: Special Growth Fund.
FIDUCIARY TRUST COMPANY INTERNATIONAL, INC. See: Special Growth Fund.
GLOBEFLEX CAPITAL, L.P. See: Special Growth Fund.
JACOBS LEVY EQUITY MANAGEMENT, INC. See: Diversified Equity Fund.
SIRACH CAPITAL MANAGEMENT, INC. See: Special Growth Fund.
WELLINGTON MANAGEMENT COMPANY, LLP. See: Special Growth Fund.
WESTPEAK INVESTMENT ADVISORS, L.P. See: Diversified Equity Fund.
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Frank Russell Investment Company
Supplement Dated March 9, 2000
To the LifePoints Funds
Statement of Additional Information Dated November 30, 1999
The following information supplements the Statement of Additional Information of
The LifePoints Funds.
The following subsections of the section entitled "MONEY MANAGER INFORMATION FOR
THE UNDERLYING FUNDS" are restated in their entirety to read as follows:
MONEY MANAGER INFORMATION
FOR THE UNDERLYING FUNDS
DIVERSIFIED EQUITY FUND
ALLIANCE CAPITAL MANAGEMENT, L.P. is a limited partnership
whose (i) general partner is a wholly-owned subsidiary of The
Equitable Companies Incorporated ("The Equitable") and (ii) majority
unit holder is ACM, Inc., a wholly-owned subsidiary of The Equitable.
As of March 1, 1995, 60.5% of The Equitable was owned by Axa, a French
insurance holding company.
BARCLAYS GLOBAL FUND ADVISORS N.A. is an indirect,
wholly-owned subsidiary of Barclays Bank PLC.
EQUINOX CAPITAL MANAGEMENT, LLC is a registered investment
adviser with majority ownership held by Ron Ulrich.
JACOBS LEVY EQUITY MANAGEMENT, INC. is 100% owned by Bruce
Jacobs and Kenneth Levy.
MARSICO CAPITAL MANAGEMENT, LLC is owned 50% by Marsico
Management Holdings, LLC and 50% by TFM Holdings, LLLP. Marsico
Management Holdings is a wholly-owned subsidiary of NationsBank, N.A.
which in turn is a wholly-owned subsidiary of Bank of America. TFM
Holdings, LLLP is a Colorado limited liability limited partnership
whose sole general partner is TFM Managers, Inc. which is wholly-owned
by Thomas F. Marsico.
PEACHTREE ASSET MANAGEMENT is division of SSBC Fund
Management LLC. SSBC Fund Management is owned 100% by Salomon Smith
Barney Inc. which is a wholly-owned subsidiary of Citigroup Inc.
1
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SANFORD C. BERNSTEIN & CO., INC. is a registered investment
adviser. Bernstein is controlled by its Board of Directors, which
consists of the following individuals: Andrew S. Adelson, Zalman C.
Bernstein, Kevin R. Rine, Charles C. Cahn, Jr., Marilyn Goldstein
Fedak, Michael L. Goldstein, Roger Hertog, Lewis A. Sanders and
Francis H. Trainer, Jr.
STRONG CAPITAL MANAGEMENT, INC. is a corporation controlled
by Richard S. Strong.
SUFFOLK CAPITAL MANAGEMENT, INC. is a registered investment
adviser and a wholly-owned subsidiary of United Asset Management
Company, a publicly traded corporation.
TURNER INVESTMENT PARTNERS INC. is a corporation controlled
by Robert E. Turner.
WESTPEAK INVESTMENT ADVISORS, L.P. is a registered investment
adviser that is directly controlled by Metropolitan Life Insurance
Company.
SPECIAL GROWTH FUND
CAPITALWORKS INVESTMENT PARTNERS, LLC is a limited
liability company controlled by its members who include John D. Wylie,
Jack C. Marshall, Mark J. Correnti and Donovan T. Garcia. (Beginning
on or about April 10, 2000.)
DELPHI MANAGEMENT, INC. is 100% owned by Scott Black.
FIDUCIARY TRUST COMPANY INTERNATIONAL, INC., an investment
adviser registered with the SEC, is an indirect wholly-owned
subsidiary of Fiduciary Trust Company International, a New York state
chartered bank.
GLOBEFLEX CAPITAL, L.P. is a California limited partnership
and an SEC registered investment adviser. Its general partners are
Robert J. Anslow, Jr. and Marina L. Marrelli.
JACOBS LEVY EQUITY MANAGEMENT, INC. See: Diversified Equity Fund.
SIRACH CAPITAL MANAGEMENT, INC. is a wholly-owned subsidiary of
United Asset Management Company, a publicly traded corporation.
WELLINGTON MANAGEMENT COMPANY, LLP is a private Massachusetts
limited liability partnership of which the following persons are managing
partners: Robert W. Doran, Duncan M. McFarland and John R. Ryan.
WESTPEAK INVESTMENT ADVISORS, L.P. See: Diversified Equity Fund.
2
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REAL ESTATE SECURITIES FUND
AEW CAPITAL MANAGEMENT, L.P. is a wholly-owned affiliate of
New England Investment Companies, L.P. ("NEIC"). NEIC is a
publicly-held limited partnership. Metropolitan Life Insurance Company,
a publicly held corporation, owns approximately 53% of NEIC. AEW
Capital Management, Inc., a wholly-owned subsidiary of NEIC, is the
general partner, and NEIC is the sole limited partner, of AEW Capital
Management, L.P.
COHEN & STEERS CAPITAL MANAGEMENT, INC. is a corporation
whose two principals, Robert H. Steers and Martin Cohen, control the
corporation within the meaning of the 1940 Act.
SECURITY CAPITAL GLOBAL CAPITAL MANAGEMENT GROUP INCORPORATED
is an indirect wholly-owned subsidiary of Security Capital, a publicly
traded corporation.
EQUITY I FUND
ALLIANCE CAPITAL MANAGEMENT L.P. See: Diversified Equity Fund.
BARCLAYS GLOBAL FUND ADVISORS. See: Diversified Equity Fund.
EQUINOX CAPITAL MANAGEMENT, LLC. See: Diversified Equity Fund.
JACOBS LEVY EQUITY MANAGEMENT, INC. See: Diversified Equity Fund.
MARSICO CAPITAL MANAGEMENT, LLC. See: Diversified Equity Fund.
PEACHTREE ASSET MANAGEMENT. See: Diversified Equity Fund.
SANFORD C. BERNSTEIN & CO., INC. See: Diversified Equity Fund.
STRONG CAPITAL MANAGEMENT, INC. See: Diversified Equity Fund.
SUFFOLK CAPITAL MANAGEMENT, INC. See: Diversified Equity Fund.
TURNER INVESTMENT PARTNERS INC. See: Diversified Equity Fund.
WESTPEAK INVESTMENT ADVISORS, L.P. See: Diversified Equity Fund.
3
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EQUITY II FUND
CAPITALWORKS INVESTMENT PARTNERS, LLC. See: Special Growth Fund.
(Beginning on or about April 10, 2000.)
DELPHI MANAGEMENT, INC. See: Special Growth Fund.
FIDUCIARY TRUST COMPANY INTERNATIONAL, INC. See: Special Growth Fund.
GLOBEFLEX CAPITAL, L.P. See: Special Growth Fund.
JACOBS LEVY EQUITY MANAGEMENT, INC. See: Diversified Equity Fund.
SIRACH CAPITAL MANAGEMENT, INC. See: Special Growth Fund.
WELLINGTON MANAGEMENT COMPANY, LLP. See: Special Growth Fund.
WESTPEAK INVESTMENT ADVISORS, L.P. See: Diversified Equity Fund.
4
