Large-Cap Core Portfolio Series 29

Under normal circumstances, the Trust invests at least 80% of the value of its assets in U.S.-listed stocks of large-capitalization companies. The Trust includes stocks from all sectors of the U.S. economy. The U.S.-listed common stocks held by the Trust may include the common stocks of U.S. and non-U.S. companies. The Sponsor selects stocks that it believes have the potential to achieve the Trust’s investment objective. As a result of this strategy, the Trust invests significantly in the consumer products sector and the information technology sector.

The Sponsor selects U.S.-listed companies that it believes should be core holdings of a U.S.-listed large-cap portfolio. To select the portfolio the Sponsor follows a disciplined process which includes both quantitative screening and qualitative analysis. The Sponsor begins with the companies that are designated as large-capitalization by Russell Investments. The Sponsor then reduces the companies by performing qualitative analysis, which may be primarily based on, but not limited to, the following factors:

• Balance Sheet. The Sponsor favors companies that possess overall financial strength and exhibit balance sheet improvements relative to their peers and the marketplace;


• Industry Leadership. The Sponsor favors companies that possess a strong competitive position among their domestic and global peers;


• Valuation. The Sponsor favors companies whose valuations appear to be attractive based on measures such as price-to-earnings, price-to-book and price-to-cash flow;


• Growth. The Sponsor favors companies with a history of (and prospects for) above average growth of revenues, earnings and dividends (if applicable);


• Profitability. The Sponsor favors companies with a history of (and prospects for) consistent and high profitability as measured by return-onassets, return-on-equity, gross margin and net margin.

As with all investments, you may lose some or all of your investment in the Trust. No assurance can be given that the Trust’s investment objective will be achieved. The Trust also might not perform as well as you expect. This can happen for reasons such as these:

• Securities prices can be volatile. The value of your investment may fall over time. Market value fluctuates in response to various factors. These can include stock market movements, purchases or sales of securities by the Trust, government policies, litigation, and changes in interest rates, inflation, the financial condition of the securities’ issuer or even perceptions of the issuer. Units of the Trust are not deposits of any bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.


• The Trust invests significantly in the consumer products sector. As a result, the factors that impact the consumer products sector will likely have a greater effect on this Trust than on a more broadly diversified Trust. General risks of companies in the consumer products sector include cyclicality of revenues and earnings, economic recession, currency fluctuations, changing consumer tastes, extensive competition, product liability litigation and increased government regulation. A weak economy and its effect on consumer spending would adversely affect companies in the consumer products sector.


• The Trust invests significantly in the information technology sector. As a result, the factors that impact the information technology sector will likely have a greater effect on this Trust than on a more broadly diversified Trust. Companies involved in this sector must contend with rapid changes in technology, intense competition, government regulation and the rapid obsolescence of products and services. Furthermore, sector predictions may not materialize and the companies selected for the Trust may not represent the entire sector and may not participate in the overall sector growth.


• Share prices or dividend rates on the securities in the Trust may decline during the life of the Trust. There is no guarantee that share prices of the securities in the Trust will not decline and that the issuers of the securities will declare dividends in the future and, if declared, whether they will remain at current levels or increase over time.


• Inflation may lead to a decrease in the value of assets or income from investments.


• The Sponsor does not actively manage the portfolio. The Trust will generally hold, and may, when creating additional units, continue to buy, the same securities even though a security’s outlook, market value or yield may have changed.

See “Investment Risks” in Part A of the prospectus and “Risk Factors” in Part B of the prospectus for additional information.