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      <regStreet1>1301 SECOND AVENUE</regStreet1>
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      <regZipOrPostalCode>98101</regZipOrPostalCode>
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        <name>State Street Bank and Trust Company</name>
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      <invstOrSec>
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        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>State Street Bank and Trust Company</name>
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        <name>NYSE Euronext - Euronext Paris</name>
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      <invstOrSec>
        <name>Standard Chartered Bank</name>
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      <invstOrSec>
        <name>State Street Bank and Trust Company</name>
        <lei>571474TGEMMWANRLN572</lei>
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      <invstOrSec>
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      <invstOrSec>
        <name>State Street Bank and Trust Company</name>
        <lei>571474TGEMMWANRLN572</lei>
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        <name>Chicago Board of Trade</name>
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      <invstOrSec>
        <name>Options Clearing Corp.</name>
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        <name>ASX Clear (Futures)</name>
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        <name>State Street Bank and Trust Company</name>
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        <name>Royal Bank of Canada</name>
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        <name>Chicago Board of Trade</name>
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      <invstOrSec>
        <name>Global Equity Fund</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Italian Derivatives Market</name>
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      <invstOrSec>
        <name>Standard Chartered Bank</name>
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      <invstOrSec>
        <name>Intercontinental Exchange, Inc.</name>
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        <name>Russell Investments Trust Company Commingled Employee Benefit Funds Trust-U.S. Cash Management Fund</name>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Osaka Exchange</name>
        <lei>3538001249AILNPRUX57</lei>
        <title>TOPIX INDX FUTR   SEP20 XOSE 20200910</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ADI1CVSG4"/>
        </identifiers>
        <balance>-132.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="105.85500000"/>
        <valUSD>1629620.69000000</valUSD>
        <pctVal>0.190455770882</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Osaka Exchange</counterpartyName>
              <counterpartyLei>3538001249AILNPRUX57</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>TOPIX Index</indexName>
                <indexIdentifier>TPU0 Index</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-09-10</expDate>
            <notionalAmt>-2147883498.00000000</notionalAmt>
            <curCd>JPY</curCd>
            <unrealizedAppr>1629620.69000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Multi-Asset Growth Strategy Fund</name>
        <lei>549300X1VBO22V2H1F97</lei>
        <title>Multi-Asset Growth Strategy Fund</title>
        <cusip>78250F547</cusip>
        <identifiers>
          <isin value="US78250F5474"/>
        </identifiers>
        <balance>8490781.62600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82954936.49000000</valUSD>
        <pctVal>9.695045279332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Bank of New York Mellon</name>
        <lei>HPFHU0OQ28E4N0NFVK49</lei>
        <title>PURCHASED USD / SOLD CHF</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="20FHKBB7S5D"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CHF" exchangeRt="0.91455000"/>
        <valUSD>-47647.10000000</valUSD>
        <pctVal>-0.00556857507</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>The Bank of New York Mellon</counterpartyName>
              <counterpartyLei>HPFHU0OQ28E4N0NFVK49</counterpartyLei>
            </counterparties>
            <amtCurSold>1414800.00000000</amtCurSold>
            <curSold>CHF</curSold>
            <amtCurPur>1501252.64000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-09-16</settlementDt>
            <unrealizedAppr>-47647.10000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Dynamic Equity Fund</name>
        <lei>U8PN3MU7C5UM180XE257</lei>
        <title>U.S. Dynamic Equity Fund</title>
        <cusip>78249R750</cusip>
        <identifiers>
          <isin value="US78249R7504"/>
        </identifiers>
        <balance>8979383.58000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67614758.36000000</valUSD>
        <pctVal>7.902219826668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The calculation of portfolio-level risk metrics does not look through to the holdings of underlying fixed income funds." noteItem="B.3.b"/>
      <explntrNote note="The calculation of portfolio-level risk metrics does not look through to the holdings of underlying fixed income funds." noteItem="B.3.a"/>
      <explntrNote note="The calculation of portfolio-level risk metrics does not look through to the holdings of underlying fixed income funds." noteItem="B.3.c"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-08-28</ncom:dateSigned>
      <ncom:nameOfApplicant>RUSSELL INVESTMENT CO</ncom:nameOfApplicant>
      <ncom:signature>Mark Swanson</ncom:signature>
      <ncom:signerName>Mark Swanson</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
