SCHEDULE 14(A) INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE
SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant
[X]
Filed by a Party other than the Registrant
[ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, For Use of the Commission Only
[X] Definitive Proxy Statement
(as permitted by Rule 14a-6(e)(2))
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to §240.14a-11(c) or §240.14a-12
NORTHWESTERN MUTUAL SERIES FUND, INC.
(Name of Registrant as Specified in its Charter)
----------------------------------------------------------------------------------------------------------------------------
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11:
(4) Proposed maximum aggregate value of transaction:
(5) Total fee paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.
(1) Amount Previously Paid:
(2) Form, Schedule or Registration Statement No.:
(3) Filing Party:
(4) Date Filed:
Sincerely, |
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DAVID ELLS President Northwestern Mutual Series Fund, Inc. |
1. |
To elect six directors to the Series Funds Board of Directors. |
2. |
To approve the amendment and restatement of the existing Investment Advisory Agreements between Mason Street Advisors, LLC and the Series Fund. |
3. |
To approve matters relating to changes in the Funds commodities policies. |
4. |
To approve the reclassification of the investment objectives of 18 Funds from fundamental to non-fundamental. |
5. |
To approve a change in the classification of each of the Focused Appreciation Portfolio and the Inflation Protection Portfolio from a diversified company to a non-diversified company under Section 5(b) of the Investment Company Act of 1940, as amended. |
6. |
To transact any other business that may properly come before the Meeting or any postponements or adjournments thereof. |
By Order of the
Board of Directors, |
RANDY M.
PAVLICK Secretary Northwestern Mutual Series Fund, Inc. |
Page |
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Summary of Proposals |
3 |
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Shareholder and Voting Information |
4 |
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The Proposals |
7 |
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Proposal
1: |
To
elect six directors to the Series Funds Board of Directors |
7 |
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Proposal
2: |
To
approve the amendment and restatement of the existing Investment Advisory Agreements between Mason Street Advisors, LLC and the Series Fund
|
18 |
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Proposal
3: |
To
approve matters relating to changes in the Funds commodities policies |
37 |
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Proposal
4: |
To
approve the reclassification of the investment objectives of 18 Funds from fundamental to non-fundamental |
41 |
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Proposal
5: |
To
approve a change in the classification of each of the Focused Appreciation Portfolio and the Inflation Protection Portfolio from a diversified
company to a non-diversified company under Section 5(b) of the Investment Company Act of 1940, as amended |
44 |
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Additional Information |
46 |
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Outstanding Shares and Share Ownership |
Appendix A |
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Nominating Committee Charter |
Appendix B |
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Form of Amended and Restated Advisory Agreement |
Appendix C |
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Management Fees |
Appendix D |
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Allocation of Expenses |
Appendix E |
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Officer and Mason Street Director Information |
Appendix F |
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Security Ownership |
Appendix G |
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Independent Public Accountants |
Appendix H |
Proposal | Fund(s) Solicited | |||||
---|---|---|---|---|---|---|
Proposal
1: |
||||||
To elect six
directors to the Series Funds Board of Directors. |
All Funds of the
Series Fund will vote on Proposal 1, voting together. |
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Proposal
2: |
||||||
To approve the
amendment and restatement of the existing Investment Advisory Agreements between Mason Street Advisors, LLC and the Series Fund. |
Shareholders of
each Fund will vote separately on Proposal 2. |
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Proposal
3: |
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To approve
matters relating to changes in the Funds commodities policies. |
All Funds (other
than the Commodities Return Strategy Portfolio) will vote separately on Proposal 3. |
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Proposal
4: |
||||||
To approve the
reclassification of the investment objectives of 18 Funds from fundamental to non-fundamental. |
Shareholders of
the following Funds will vote separately on Proposal 4: Growth Stock; Focused Appreciation; Large Cap Core Stock; Index 500 Stock; Domestic Equity;
Equity Income; Mid Cap Growth Stock; Index 400 Stock; Mid Cap Value; Small Cap Growth Stock; Small Cap Value; International Growth; International
Equity; Money Market; Select Bond; High Yield Bond; Balanced; and Asset Allocation. |
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Proposal
5: |
||||||
To approve a
change in the classification of each of the Focused Appreciation Portfolio and the Inflation Protection Portfolio from a diversified
company to a non-diversified company under Section 5(b) of the Investment Company Act of 1940, as amended. |
Shareholders of
the Focused Appreciation Portfolio and Inflation Protection Portfolio will vote separately on Proposal 5. |
Nominee Name, Address and Year of Birth |
|
Position(s) Held With Fund |
|
Term of Office and Length of Time Served1 |
|
Principal Occupation(s) During Past Five Years |
|
Number of Portfolios in Fund Complex Overseen by Director or Nominee for Director |
|
Other Directorships Held |
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Independent Directors |
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Miriam M. Allison (1947) c/o Northwestern Mutual Series Fund Attn: Secretary 720 East Wisconsin Milwaukee, WI 53202 |
Director |
Since 2006 |
Rancher since 2004. From 2001 to 2005, Chairman of UMB Fund Services, Inc. (formerly Sunstone Financial
Group, Inc.), a provider of administration, recordkeeping and marketing services to investment companies. |
28 Portfolios |
Director of Wasatch Funds, Inc. (18 portfolios) |
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Robert H. Huffman III (1959) c/o Northwestern Mutual Series Fund Attn: Secretary 720 East Wisconsin Milwaukee, WI 53202 |
Director |
Since 2007 |
Since 2004, Co-Founder and Managing Partner of Relative Value Partners, LLC, a registered investment
advisor. |
28 Portfolios |
None |
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Michael
G. Smith (1944) c/o Northwestern Mutual Series Fund Attn: Secretary 720 East Wisconsin Milwaukee, WI 53202 |
Director |
Since 2003 |
Private investor. Formerly managing director, global investor client strategy, Merrill Lynch (1996-1998); managing director and head of
domestic regional institutional sales, Merrill Lynch (1995-1996); managing director, central U.S., Merrill Lynch (1985-1995, 1999) |
28
Portfolios |
Trustee of The Ivy Family of Funds (2 registered investment companies 29 portfolios); Director of the TDX Independence Funds, Inc. (5
portfolios); Director of CTMG, Inc. and Cox Business School, Southern Methodist University |
1 |
Because the Series Fund does not hold regular annual meetings of shareholders, and subject to the term limits and mandatory retirement provisions described below under How long would each nominee serve ? a director holds office until his or her successor is elected and qualified, or until he or she otherwise dies, retires, resigns, is removed or becomes disqualified. |
Nominee Name, Address and Year of Birth |
|
Position(s) Held With Fund |
|
Term of Office and Length of Time Served1 |
|
Principal Occupation(s) During Past Five Years |
|
Number of Portfolios in Fund Complex Overseen by Director or Nominee for Director |
|
Other Directorships Held |
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Christy L. Brown (1965) c/o Northwestern Mutual Series Fund Attn: Secretary 720 East Wisconsin Milwaukee, WI 53202 |
None |
N/A |
Since 2007, Vice Chancellor, Finance and Administrative Affairs, University of Wisconsin, Milwaukee.
Prior thereto, Executive Vice President and General Counsel, Milwaukee Area Technical College. |
28 Portfolios2 |
None |
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Gail L. Hanson (1955) c/o Northwestern Mutual Series Fund Attn: Secretary 720 East Wisconsin Milwaukee, WI 53202 |
None |
N/A |
Since
February, 2011, Senior Vice President and Chief Financial Officer, Aurora Health Care. Prior thereto, Deputy Executive Director, State of Wisconsin
Investment Board. |
28
Portfolios2 |
Director of Artisan Funds, Inc. (12 portfolios) (effective January 1, 2012) |
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Interested Director3 |
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Gary
A. Poliner (1953) c/o Northwestern Mutual Series Fund 720 East Wisconsin Milwaukee, WI 53202 |
Chairman of the
Board |
Since 2010 |
President and Chief Risk Officer of Northwestern Mutual , since 2010. Prior thereto, Executive Vice President Chief Risk Officer
of Northwestern Mutual from 2009 to 2010; Executive Vice President Investment Products and Services from 2008 to 2009; Chief Investment Officer
of Northwestern Mutual from 2007 to 2008; and Chief Financial Officer of Northwestern Mutual from 2001 to 2008. |
28
Portfolios |
Trustee of Northwestern Mutual |
2 |
If elected. |
3 |
Mr. Poliner is an interested person of the Series Fund, as defined in the Investment Company Act of 1940, as amended, because he is the President and Chief Risk Officer, and a Trustee, of Northwestern Mutual, the parent company of Mason Street. Mr. Poliner is also a Director of Frank Russell Company, a corporate affiliate of Northwestern Mutual. |
Director |
Aggregate Compensation From Registrant |
Pension or Retirement Benefits Accrued As Part of Fund Expenses |
Estimated Annual Benefits Upon Retirement |
Total Compensation Paid to Directors in 2010* |
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---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gary A.
Poliner |
None |
None |
None |
None | ||||||||||||||
Miriam M.
Allison |
None |
None |
None |
$ | 99,750 | |||||||||||||
Michael G.
Smith |
None |
None |
None |
$ | 104,500 | |||||||||||||
Robert H.
Huffman III |
None |
None |
None |
$ | 95,000 |
* |
Pursuant to action by the Board, effective in 2012, the Independent Directors compensation consists of a retainer of $70,000 and per meeting fees of $10,000 per regular meeting, for a total annual base compensation of $110,000. The additional compensation for the lead Independent Director and the chair of the audit committee, and the compensation for telephonic Board meetings in excess of two per calendar year, was not changed by the Board for 2012. |
Management Fees |
Other Expenses (1) |
Acquired Fund Fees and Expenses |
Total Annual Fund Operating Expenses |
Expense Reimbursement |
Net Annual Fund Operating Expense |
Change in Net Ratio |
% Increase of Additional Expenses |
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GROWTH STOCK |
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Current
|
0.43 | % | 0.01 | % | 0.00 | % | 0.44 | % | 0.00 | % | 0.44 | % | |||||||||||||||||||||||
Pro Forma
|
0.43 | % | 0.02 | % | 0.00 | % | 0.45 | % | 0.00 | % | 0.45 | % | 0.01 | % | 2.27 | % | |||||||||||||||||||
FOCUSED APPRECIATION |
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Current
|
0.77 | % | 0.02 | % | 0.00 | % | 0.79 | % | 0.05 | % | 0.74 | % | |||||||||||||||||||||||
Pro Forma
|
0.77 | % | 0.04 | % | 0.00 | % | 0.81 | % | 0.05 | % | 0.76 | % | 0.02 | % | 2.70 | % | |||||||||||||||||||
LARGE CAP CORE STOCK |
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Current
|
0.44 | % | 0.01 | % | 0.00 | % | 0.45 | % | 0.00 | % | 0.45 | % | |||||||||||||||||||||||
Pro Forma
|
0.44 | % | 0.03 | % | 0.00 | % | 0.47 | % | 0.00 | % | 0.47 | % | 0.02 | % | 4.44 | % | |||||||||||||||||||
LARGE CAP BLEND |
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Current
|
0.77 | % | 0.05 | % | 0.00 | % | 0.82 | % | 0.00 | % | 0.82 | % | |||||||||||||||||||||||
Pro Forma
|
0.77 | % | 0.11 | % | 0.00 | % | 0.88 | % | 0.03 | % | 0.85 | % | 0.03 | % | 3.66 | % | |||||||||||||||||||
INDEX 500 STOCK |
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Current
|
0.20 | % | 0.01 | % | 0.00 | % | 0.21 | % | 0.00 | % | 0.21 | % | |||||||||||||||||||||||
Pro Forma
|
0.20 | % | 0.02 | % | 0.00 | % | 0.22 | % | 0.00 | % | 0.22 | % | 0.01 | % | 4.76 | % | |||||||||||||||||||
LARGE COMPANY VALUE |
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Current
|
0.72 | % | 0.06 | % | 0.00 | % | 0.78 | % | 0.00 | % | 0.78 | % | |||||||||||||||||||||||
Pro Forma
|
0.72 | % | 0.13 | % | 0.00 | % | 0.85 | % | 0.05 | % | 0.80 | % | 0.02 | % | 2.56 | % |
Management Fees |
Other Expenses (1) |
Acquired Fund Fees and Expenses |
Total Annual Fund Operating Expenses |
Expense Reimbursement |
Net Annual Fund Operating Expense |
Change in Net Ratio |
% Increase of Additional Expenses | ||||||||||||||||||||||||||||
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DOMESTIC EQUITY |
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Current
|
0.56 | % | 0.01 | % | 0.00 | % | 0.57 | % | 0.00 | % | 0.57 | % | |||||||||||||||||||||||
Pro Forma
|
0.56 | % | 0.02 | % | 0.00 | % | 0.58 | % | 0.00 | % | 0.58 | % | 0.01 | % | 1.75 | % | |||||||||||||||||||
EQUITY INCOME |
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Current
|
0.65 | % | 0.02 | % | 0.00 | % | 0.67 | % | 0.00 | % | 0.67 | % | |||||||||||||||||||||||
Pro Forma
|
0.65 | % | 0.04 | % | 0.00 | % | 0.69 | % | 0.00 | % | 0.69 | % | 0.02 | % | 2.99 | % | |||||||||||||||||||
MID CAP GROWTH STOCK |
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Current
|
0.53 | % | 0.00 | % | 0.00 | % | 0.53 | % | 0.00 | % | 0.53 | % | |||||||||||||||||||||||
Pro Forma
|
0.53 | % | 0.01 | % | 0.00 | % | 0.54 | % | 0.00 | % | 0.54 | % | 0.01 | % | 1.89 | % | |||||||||||||||||||
INDEX 400 STOCK |
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Current
|
0.25 | % | 0.02 | % | 0.01 | % | 0.28 | % | 0.00 | % | 0.28 | % | |||||||||||||||||||||||
Pro Forma
|
0.25 | % | 0.05 | % | 0.01 | % | 0.31 | % | 0.00 | % | 0.31 | % | 0.03 | % | 10.71 | % | |||||||||||||||||||
MID CAP VALUE |
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Current
|
0.85 | % | 0.07 | % | 0.00 | % | 0.92 | % | 0.00 | % | 0.92 | % | |||||||||||||||||||||||
Pro Forma
|
0.85 | % | 0.11 | % | 0.00 | % | 0.96 | % | 0.00 | % | 0.96 | % | 0.04 | % | 4.35 | % | |||||||||||||||||||
SMALL CAP GROWTH STOCK |
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Current
|
0.55 | % | 0.03 | % | 0.01 | % | 0.59 | % | 0.00 | % | 0.59 | % | |||||||||||||||||||||||
Pro Forma
|
0.55 | % | 0.04 | % | 0.01 | % | 0.60 | % | 0.00 | % | 0.60 | % | 0.01 | % | 1.69 | % | |||||||||||||||||||
INDEX 600 STOCK |
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Current
|
0.25 | % | 0.12 | % | 0.05 | % | 0.42 | % | 0.02 | % | 0.40 | % | |||||||||||||||||||||||
Pro Forma
|
0.25 | % | 0.24 | % | 0.05 | % | 0.54 | % | 0.14 | % | 0.40 | % | 0.00 | % | 0.00 | % | |||||||||||||||||||
SMALL CAP VALUE |
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Current
|
0.85 | % | 0.02 | % | 0.20 | % | 1.07 | % | 0.00 | % | 1.07 | % | |||||||||||||||||||||||
Pro Forma
|
0.85 | % | 0.04 | % | 0.20 | % | 1.09 | % | 0.00 | % | 1.09 | % | 0.02 | % | 1.87 | % | |||||||||||||||||||
INTERNATIONAL GROWTH |
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Current
|
0.67 | % | 0.11 | % | 0.00 | % | 0.78 | % | 0.00 | % | 0.78 | % | |||||||||||||||||||||||
Pro Forma
|
0.67 | % | 0.14 | % | 0.00 | % | 0.81 | % | 0.00 | % | 0.81 | % | 0.03 | % | 3.85 | % | |||||||||||||||||||
RESEARCH INTERNATIONAL CORE |
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Current
|
0.88 | % | 0.49 | % | 0.00 | % | 1.37 | % | 0.22 | % | 1.15 | % | |||||||||||||||||||||||
Pro Forma
|
0.88 | % | 0.56 | % | 0.00 | % | 1.44 | % | 0.29 | % | 1.15 | % | 0.00 | % | 0.00 | % | |||||||||||||||||||
INTERNATIONAL EQUITY |
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Current
|
0.66 | % | 0.06 | % | 0.00 | % | 0.72 | % | 0.05 | % | 0.67 | % | |||||||||||||||||||||||
Pro Forma
|
0.66 | % | 0.07 | % | 0.00 | % | 0.73 | % | 0.05 | % | 0.68 | % | 0.01 | % | 1.49 | % | |||||||||||||||||||
EMERGING MARKETS EQUITY |
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Current
|
1.14 | % | 0.45 | % | 0.00 | % | 1.59 | % | 0.09 | % | 1.50 | % | |||||||||||||||||||||||
Pro Forma
|
1.14 | % | 0.49 | % | 0.00 | % | 1.63 | % | 0.13 | % | 1.50 | % | 0.00 | % | 0.00 | % | |||||||||||||||||||
MONEY MARKET |
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Current
|
0.30 | % | 0.00 | % | 0.00 | % | 0.30 | % | 0.00 | % | 0.30 | % | |||||||||||||||||||||||
Pro Forma
|
0.30 | % | 0.02 | % | 0.00 | % | 0.32 | % | 0.00 | % | 0.32 | % | 0.02 | % | 6.67 | % | |||||||||||||||||||
SHORT-TERM BOND |
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Current
|
0.34 | % | 0.04 | % | 0.00 | % | 0.38 | % | 0.00 | % | 0.38 | % | |||||||||||||||||||||||
Pro Forma
|
0.34 | % | 0.08 | % | 0.00 | % | 0.42 | % | 0.00 | % | 0.42 | % | 0.04 | % | 10.53 | % | |||||||||||||||||||
SELECT BOND |
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Current
|
0.30 | % | 0.00 | % | 0.00 | % | 0.30 | % | 0.00 | % | 0.30 | % | |||||||||||||||||||||||
Pro Forma
|
0.30 | % | 0.02 | % | 0.00 | % | 0.32 | % | 0.00 | % | 0.32 | % | 0.02 | % | 6.67 | % |
Management Fees |
Other Expenses (1) |
Acquired Fund Fees and Expenses |
Total Annual Fund Operating Expenses |
Expense Reimbursement |
Net Annual Fund Operating Expense |
Change in Net Ratio |
% Increase of Additional Expenses | ||||||||||||||||||||||||||||
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LONG-TERM U.S. GOVERNMENT BOND |
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Current
|
0.55 | % | 0.04 | % | 0.00 | % | 0.59 | % | 0.00 | % | 0.59 | % | |||||||||||||||||||||||
Pro Forma
|
0.55 | % | 0.09 | % | 0.00 | % | 0.64 | % | 0.00 | % | 0.64 | % | 0.05 | % | 8.47 | % | |||||||||||||||||||
INFLATION PROTECTION |
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Current
|
0.57 | % | 0.04 | % | 0.00 | % | 0.61 | % | 0.00 | % | 0.61 | % | |||||||||||||||||||||||
Pro Forma
|
0.57 | % | 0.09 | % | 0.00 | % | 0.66 | % | 0.01 | % | 0.65 | % | 0.04 | % | 6.56 | % | |||||||||||||||||||
HIGH YIELD BOND |
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Current
|
0.44 | % | 0.02 | % | 0.00 | % | 0.46 | % | 0.00 | % | 0.46 | % | |||||||||||||||||||||||
Pro Forma
|
0.44 | % | 0.06 | % | 0.00 | % | 0.50 | % | 0.00 | % | 0.50 | % | 0.04 | % | 8.70 | % | |||||||||||||||||||
MULTI-SECTOR BOND |
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Current
|
0.79 | % | 0.04 | % | 0.00 | % | 0.83 | % | 0.00 | % | 0.83 | % | |||||||||||||||||||||||
Pro Forma
|
0.79 | % | 0.12 | % | 0.00 | % | 0.91 | % | 0.01 | % | 0.90 | % | 0.07 | % | 8.43 | % | |||||||||||||||||||
COMMODITIES RETURN STRATEGY |
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Current
|
0.80 | % | 0.10 | % | 0.05 | % | 0.95 | % | 0.04 | % | 0.91 | % | |||||||||||||||||||||||
Pro Forma
|
0.80 | % | 0.16 | % | 0.05 | % | 1.01 | % | 0.06 | % | 0.95 | % | 0.04 | % | 4.40 | % | |||||||||||||||||||
BALANCED |
|||||||||||||||||||||||||||||||||||
Current
|
0.30 | % | 0.00 | % | 0.02 | % | 0.32 | % | 0.00 | % | 0.32 | % | |||||||||||||||||||||||
Pro Forma
|
0.30 | % | 0.01 | % | 0.02 | % | 0.33 | % | 0.00 | % | 0.33 | % | 0.01 | % | 3.12 | % | |||||||||||||||||||
ASSET ALLOCATION |
|||||||||||||||||||||||||||||||||||
Current
|
0.54 | % | 0.04 | % | 0.02 | % | 0.60 | % | 0.05 | % | 0.55 | % | |||||||||||||||||||||||
Pro Forma
|
0.54 | % | 0.10 | % | 0.02 | % | 0.66 | % | 0.05 | % | 0.61 | % | 0.06 | % | 10.91 | % |
(1) |
The pro forma other expenses include an estimate of the new expenses that would be paid by the Fund as a result of the modification of the expense structure proposed in the Amended Agreement. |
1 Year |
3 Years |
5 Years |
10 Years |
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GROWTH
STOCK |
||||||||||||||||||
Current
|
$ | 45 | $ | 142 | $ | 247 | $ | 556 | ||||||||||
Pro Forma
|
46 | 145 | 253 | 570 | ||||||||||||||
FOCUSED
APPRECIATION |
||||||||||||||||||
Current
|
75 | 247 | 434 | 974 | ||||||||||||||
Pro Forma
|
77 | 253 | 444 | 995 | ||||||||||||||
LARGE CAP
CORE STOCK |
||||||||||||||||||
Current
|
46 | 145 | 254 | 571 | ||||||||||||||
Pro Forma
|
48 | 150 | 262 | 588 |
1 Year |
3 Years |
5 Years |
10 Years | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
LARGE CAP
BLEND |
||||||||||||||||||
Current
|
$ | 84 | $ | 263 | $ | 457 | $ | 1,017 | ||||||||||
Pro Forma
|
87 | 279 | 487 | 1,087 | ||||||||||||||
INDEX 500
STOCK |
||||||||||||||||||
Current
|
21 | 67 | 117 | 265 | ||||||||||||||
Pro Forma
|
23 | 71 | 124 | 280 | ||||||||||||||
LARGE
COMPANY VALUE |
||||||||||||||||||
Current
|
80 | 251 | 436 | 971 | ||||||||||||||
Pro Forma
|
82 | 266 | 465 | 1,042 | ||||||||||||||
DOMESTIC
EQUITY |
||||||||||||||||||
Current
|
58 | 183 | 318 | 714 | ||||||||||||||
Pro Forma
|
60 | 187 | 326 | 731 | ||||||||||||||
EQUITY
INCOME |
||||||||||||||||||
Current
|
69 | 216 | 375 | 839 | ||||||||||||||
Pro Forma
|
71 | 222 | 386 | 863 | ||||||||||||||
MID CAP
GROWTH STOCK |
||||||||||||||||||
Current
|
55 | 171 | 299 | 671 | ||||||||||||||
Pro Forma
|
56 | 174 | 304 | 681 | ||||||||||||||
INDEX 400
STOCK |
||||||||||||||||||
Current
|
29 | 90 | 158 | 356 | ||||||||||||||
Pro Forma
|
31 | 98 | 172 | 388 | ||||||||||||||
MID CAP
VALUE |
||||||||||||||||||
Current
|
94 | 292 | 508 | 1,128 | ||||||||||||||
Pro Forma
|
98 | 306 | 532 | 1,180 | ||||||||||||||
SMALL CAP
GROWTH STOCK |
||||||||||||||||||
Current
|
60 | 188 | 327 | 733 | ||||||||||||||
Pro Forma
|
62 | 193 | 337 | 754 | ||||||||||||||
INDEX 600
STOCK |
||||||||||||||||||
Current
|
41 | 132 | 233 | 526 | ||||||||||||||
Pro Forma
|
41 | 158 | 286 | 659 | ||||||||||||||
SMALL CAP
VALUE |
||||||||||||||||||
Current
|
109 | 341 | 591 | 1,307 | ||||||||||||||
Pro Forma
|
111 | 347 | 601 | 1,329 | ||||||||||||||
INTERNATIONAL GROWTH |
||||||||||||||||||
Current
|
80 | 249 | 433 | 964 | ||||||||||||||
Pro Forma
|
82 | 257 | 447 | 996 | ||||||||||||||
RESEARCH
INTERNATIONAL CORE |
||||||||||||||||||
Current
|
117 | 413 | 730 | 1,630 | ||||||||||||||
Pro Forma
|
117 | 427 | 759 | 1,699 | ||||||||||||||
INTERNATIONAL EQUITY |
||||||||||||||||||
Current
|
68 | 225 | 396 | 892 | ||||||||||||||
Pro Forma
|
69 | 228 | 401 | 902 | ||||||||||||||
EMERGING
MARKETS EQUITY |
||||||||||||||||||
Current
|
153 | 492 | 856 | 1,878 | ||||||||||||||
Pro Forma
|
153 | 501 | 874 | 1,921 |
1 Year |
3 Years |
5 Years |
10 Years | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
MONEY
MARKET |
||||||||||||||||||
Current
|
$ | 31 | $ | 97 | $ | 170 | $ | 384 | ||||||||||
Pro Forma
|
33 | 103 | 181 | 408 | ||||||||||||||
SHORT-TERM
BOND |
||||||||||||||||||
Current
|
38 | 121 | 211 | 475 | ||||||||||||||
Pro Forma
|
43 | 136 | 237 | 533 | ||||||||||||||
SELECT
BOND |
||||||||||||||||||
Current
|
31 | 97 | 170 | 384 | ||||||||||||||
Pro Forma
|
33 | 103 | 180 | 407 | ||||||||||||||
LONG-TERM
U.S. GOVERNMENT BOND |
||||||||||||||||||
Current
|
61 | 190 | 331 | 742 | ||||||||||||||
Pro Forma
|
65 | 205 | 357 | 799 | ||||||||||||||
INFLATION
PROTECTION |
||||||||||||||||||
Current
|
62 | 195 | 339 | 760 | ||||||||||||||
Pro Forma
|
66 | 211 | 368 | 824 | ||||||||||||||
HIGH YIELD
BOND |
||||||||||||||||||
Current
|
48 | 149 | 260 | 585 | ||||||||||||||
Pro Forma
|
51 | 159 | 278 | 625 | ||||||||||||||
MULTI-SECTOR
BOND |
||||||||||||||||||
Current
|
85 | 266 | 462 | 1,028 | ||||||||||||||
Pro Forma
|
92 | 289 | 503 | 1,119 | ||||||||||||||
COMMODITIES
RETURN STRATEGY |
||||||||||||||||||
Current
|
93 | 291 | 505 | 1,121 | ||||||||||||||
Pro Forma
|
97 | 303 | 525 | 1,166 | ||||||||||||||
BALANCED |
||||||||||||||||||
Current
|
33 | 103 | 180 | 406 | ||||||||||||||
Pro Forma
|
34 | 108 | 188 | 424 | ||||||||||||||
ASSET
ALLOCATION |
||||||||||||||||||
Current
|
56 | 186 | 328 | 741 | ||||||||||||||
Pro Forma
|
62 | 206 | 362 | 816 |
Commodities. A Fund may not purchase or sell physical commodities, unless acquired as a result of ownership of securities or other instruments. |
(Note: This restriction does not prohibit the Fund from engaging in transactions involving foreign currency, futures contracts and options, forward contracts, swaps, caps, floors, collars, securities purchased on a forward commitment or delayed delivery basis, or other derivative instruments, or other financial instruments that are secured by physical commodities, in accordance with the 1940 Act and the rules and regulations thereunder, or pursuant to any exemptive relief that may be granted by the SEC, so long as such activities do not cause it to violate its operating policy prohibiting the Fund from being deemed a commodity pool.) |
Commodities. A Fund may not purchase or sell physical commodities, unless acquired as a result of ownership of securities or other instruments. |
(Note: This restriction does not prohibit the Fund from engaging in transactions involving: a) derivative instruments (including, but not limited to, futures, forwards, options and swaps, as well as combinations thereof); b) securities purchased on a forward commitment or delayed delivery basis; or c) other financial instruments that are secured by physical commodities. Any of the foregoing transactions will be entered into in accordance with the 1940 Act and |
the rules and regulations thereunder, or SEC interpretations thereof, or pursuant to any exemptive relief that may be granted by the SEC.) |
Commodities. A Fund may purchase and sell commodities and commodity contracts only to the extent that such activities do not result in the Fund being a commodity pool as defined in the Commodity Exchange Act and the rules and regulations of the Commodity Futures Trading Commission. |
Fund |
Fundamental Investment Objective(s) |
|||||
---|---|---|---|---|---|---|
Growth Stock
|
Long-term growth
of capital. Current income is a secondary objective. |
|||||
Focused
Appreciation |
Long-term growth
of capital. |
|||||
Large Cap Core
Stock |
Long-term growth
of capital and income. |
|||||
Index 500
Stock |
To achieve
investment results that approximate the performance of the Standard & Poors 500® Composite Stock Price Index. |
|||||
Domestic
Equity |
Long-term growth
of capital and income. |
|||||
Equity Income
|
Long-term growth
of capital and income |
|||||
Mid Cap Growth
Stock |
Long-term growth
of capital. |
|||||
Index 400
Stock |
To achieve
investment results that approximate the performance of the S&P MidCap 400® Stock Price Index. |
|||||
Mid Cap Value
|
Long-term capital
growth. Current income is a secondary objective. |
|||||
Small Cap
Growth Stock |
Long-term growth
of capital. |
|||||
Small Cap
Value |
Long-term growth
of capital. |
|||||
International
Growth |
Long-term growth
of capital. |
|||||
International
Equity |
Long-term growth
of capital. Any income realized will be incidental. |
|||||
Money Market
|
To realize
maximum current income to the extent consistent with liquidity and stability of capital. |
|||||
Select Bond
|
The primary
investment objective of the Fund is to provide as high a level of total return as is consistent with prudent investment risk. A secondary objective is
to seek preservation of shareholders capital. |
|||||
High Yield
Bond |
To achieve high
current income and capital appreciation. |
|||||
Balanced
|
To realize as
high a level of total return as is consistent with prudent investment risk, through income and capital appreciation. |
|||||
Asset
Allocation |
To realize as
high a level of total return as is consistent with reasonable investment risk. |
By Order of the
Board of Directors, |
RANDY M.
PAVLICK Secretary Northwestern Mutual Series Fund, Inc. |
Index 500 Stock Portfolio |
Select Bond Portfolio |
Money Market Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
17,209,897 | 48,349,242 | 18,400,988 | |||||||||||
NML Variable
Annuity Account B |
313,047,058 | 894,739,419 | 292,384,593 | |||||||||||
NML Variable
Annuity Account C |
1,782,307 | 3,085,314 | 2,528,308 | |||||||||||
NM Variable
Life Account |
280,383,017 | 191,983,432 | 164,028,574 | |||||||||||
NM Variable
Life Account II |
2,827,511 | 4,278,264 | 4,456,454 | |||||||||||
General
Account |
| | | |||||||||||
Total
|
615,249,790 | 1,142,435,671 | 481,798,917 |
Balanced Portfolio |
Large Cap Core Stock Portfolio |
Growth Stock Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
76,900,985 | 6,299,737 | 5,578,361 | |||||||||||
NML Variable
Annuity Account B |
1,249,876,130 | 150,266,418 | 108,837,116 | |||||||||||
NML Variable
Annuity Account C |
9,092,073 | 1,128,619 | 618,823 | |||||||||||
NM Variable
Life Account |
230,032,610 | 150,216,779 | 128,540,394 | |||||||||||
NM Variable
Life Account II |
812,196 | 1,228,305 | 1,326,763 | |||||||||||
General
Account |
| | | |||||||||||
Total
|
1,566,713,994 | 309,139,858 | 244,901,457 |
Mid Cap Growth Stock Portfolio |
High Yield Bond Portfolio |
International Equity Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
9,072,270 | 23,171,754 | 25,735,161 | |||||||||||
NML Variable
Annuity Account B |
143,352,013 | 374,275,142 | 480,963,440 | |||||||||||
NML Variable
Annuity Account C |
1,266,081 | 1,191,223 | 2,422,491 | |||||||||||
NM Variable
Life Account |
122,525,586 | 135,540,338 | 288,552,115 | |||||||||||
NM Variable
Life Account II |
442,352 | 3,384,185 | 4,553,822 | |||||||||||
General
Account |
| | | |||||||||||
Total
|
276,658,302 | 537,562,642 | 802,227,029 |
Small Cap Growth Stock Portfolio |
Small Cap Value Portfolio |
International Growth Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
5,822,948 | 6,089,620 | 11,143,589 | |||||||||||
NML Variable
Annuity Account B |
105,055,619 | 130,077,253 | 170,886,003 | |||||||||||
NML Variable
Annuity Account C |
383,804 | 529,248 | 485,248 | |||||||||||
NM Variable
Life Account |
106,437,802 | 81,692,777 | 72,684,425 | |||||||||||
NM Variable
Life Account II |
1,171,137 | 1,689,513 | 1,966,452 | |||||||||||
General
Account |
| | | |||||||||||
Total
|
218,871,310 | 220,078,411 | 257,165,717 |
Index 400 Stock Portfolio |
Domestic Equity Portfolio |
Asset Allocation Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
8,572,881 | 16,099,201 | 4,793,521 | |||||||||||
NML Variable
Annuity Account B |
168,805,506 | 269,666,539 | 178,558,196 | |||||||||||
NML Variable
Annuity Account C |
550,217 | 889,855 | 1,594,074 | |||||||||||
NM Variable
Life Account |
145,543,005 | 149,304,765 | 36,903,876 | |||||||||||
NM Variable
Life Account II |
2,098,416 | 2,894,692 | 340,015 | |||||||||||
General
Account |
| | | |||||||||||
Total
|
325,570,025 | 438,855,052 | 222,189,682 |
Mid Cap Value Portfolio |
Focused Appreciation Portfolio |
Equity Income Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
4,089,274 | 6,100,023 | 14,437,925 | |||||||||||
NML Variable
Annuity Account B |
72,440,798 | 117,891,579 | 182,944,411 | |||||||||||
NML Variable
Annuity Account C |
459,960 | 571,647 | 943,539 | |||||||||||
NM Variable
Life Account |
32,826,919 | 48,654,330 | 65,979,031 | |||||||||||
NM Variable
Life Account II |
1,122,003 | 1,727,241 | 2,005,497 | |||||||||||
General
Account |
| | | |||||||||||
Total
|
110,938,954 | 174,994,820 | 266,310,403 |
Large Cap Blend Portfolio |
Large Company Value Portfolio |
Index 600 Stock Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
1,014,115 | 4,231,557 | 2,301,644 | |||||||||||
NML Variable
Annuity Account B |
59,320,945 | 61,809,869 | 34,137,700 | |||||||||||
NML Variable
Annuity Account C |
238,237 | 258,522 | 98,975 | |||||||||||
NM Variable
Life Account |
4,525,056 | 4,017,631 | 2,233,650 | |||||||||||
NM Variable
Life Account II |
284,809 | 21,425 | 44,267 | |||||||||||
General
Account |
26,245,919 | 27,322,149 | 22,519,327 | |||||||||||
Total
|
91,629,081 | 97,661,153 | 61,335,563 |
Research International Core Portfolio |
Emerging Markets Equity Portfolio |
Short-Term Bond Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
7,836,333 | 16,998,061 | 12,962,966 | |||||||||||
NML Variable
Annuity Account B |
81,438,468 | 141,202,041 | 88,168,153 | |||||||||||
NML Variable
Annuity Account C |
398,303 | 716,383 | 910,135 | |||||||||||
NM Variable
Life Account |
5,705,905 | 10,658,542 | 3,980,662 | |||||||||||
NM Variable
Life Account II |
292,541 | 409,812 | 304,591 | |||||||||||
General
Account |
38,273,807 | | 58,114,256 | |||||||||||
Total
|
133,945,357 | 169,984,839 | 164,440,763 |
Long-Term U.S. Government Bond Portfolio |
Inflation Protection Portfolio |
Multi-Sector Bond Portfolio |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
6,097,583 | 14,014,185 | 23,214,946 | |||||||||||
NML Variable
Annuity Account B |
79,134,145 | 136,252,430 | 209,309,825 | |||||||||||
NML Variable
Annuity Account C |
303,326 | 540,763 | 952,484 | |||||||||||
NM Variable
Life Account |
6,195,483 | 4,531,393 | 5,319,820 | |||||||||||
NM Variable
Life Account II |
148,502 | 482,549 | 268,151 | |||||||||||
General
Account |
15,787,733 | | | |||||||||||
Total
|
107,666,772 | 155,821,320 | 239,065,226 |
Commodities Return Strategy Portfolio |
||||||
---|---|---|---|---|---|---|
NML Variable
Annuity Account A |
11,403,352 | |||||
NML Variable
Annuity Account B |
49,481,305 | |||||
NML Variable
Annuity Account C |
200,637 | |||||
NM Variable
Life Account |
7,272,799 | |||||
NM Variable
Life Account II |
369,148 | |||||
General
Account |
50,002,611 | |||||
Total
|
118,729,852 |
1. |
In the event of any vacancies on the Board, the Committee shall oversee the process for the identification, evaluation and nomination of potential candidates to serve on the Board. The Committee may solicit suggestions for nominations from any source it deems appropriate. |
2. |
The Committee shall evaluate each candidates qualifications for Board membership, and, with respect to prospective nominees for Independent Director, their independence from the Funds investment advisers and other principal service providers. The Committee shall consider the effect of any relationships beyond those delineated in the 1940 Act that might impair the independence of a prospective Independent Director, e.g., business, financial or family relationships with an investment adviser or other service provider to the Fund, or with any company that controls the Fund adviser or other service provider. |
1 |
The members of the Committee shall not be subject to greater fiduciary obligations and shall not be subject to a higher standard of care than the other members of the Board because of their work for the Committee. |
3. |
In assessing the qualifications of a potential candidate for membership on the Board, the Committee may consider the candidates potential contribution to the operation of the Board and its committees, and such other factors as it may deem relevant. No person shall be qualified to be a Board member unless the Committee, in consultation with legal counsel, has determined that such person, if elected as a Director, would not cause the Fund to violate (a) applicable law, regulation or regulatory interpretation, (b) its organizational documents, or (c) any policy adopted by the Board regarding either the retirement age of any Board member or the percentage of the Board that would be composed of Independent Directors. |
4. |
While the Committee is solely responsible for the selection and nomination of potential candidates to serve on the Board, the Committee may consider and evaluate nominations properly submitted by shareholders of the Fund. |
5. |
The Committee shall periodically evaluate the composition of the Board to determine whether it may be appropriate to add individuals with different backgrounds or skills from those already on the Board. |
A. |
Expenses Borne by Mason Street. |
B. |
Expenses Borne by NMSF/Portfolios. |
Attest: |
NORTHWESTERN MUTUAL SERIES FUND, INC. |
||||||||||
By |
|||||||||||
Lesli H.
McLinden, Assistant Secretary |
Kate M.
Fleming Vice President Operations |
||||||||||
Attest: |
MASON
STREET ADVISORS, LLC |
||||||||||
By |
|||||||||||
Randy M. Pavlick,
Assistant Secretary |
Jefferson V.
DeAngelis, President |
Index 500 Stock
Portfolio |
0.20 | % | ||||
Index 400 Stock
Portfolio |
0.25 | % | ||||
Select Bond,
Money Market and Balanced Portfolios |
0.30 | % | ||||
Small Cap Value
Portfolio |
0.85 | % | ||||
Mid Cap Value
Portfolio |
0.85 | % | ||||
Commodities
Return Strategy Portfolio |
0.80 | % |
Portfolio |
First $50 Million |
Next $50 Million |
Excess over $100 Million |
|
||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Large Cap Core
Stock |
0.60 | % | 0.50 | % | 0.40 | % | ||||||||||||
Growth
Stock |
0.60 | % | 0.50 | % | 0.40 | % | ||||||||||||
Small Cap
Growth Stock |
0.80 | % | 0.65 | % | 0.50 | % | ||||||||||||
Mid Cap Growth
Stock |
0.80 | % | 0.65 | % | 0.50 | % | ||||||||||||
High Yield
Bond |
0.60 | % | 0.50 | % | 0.40 | % | ||||||||||||
International
Equity |
0.85 | % | 0.65 | % | 0.65 | % | ||||||||||||
Portfolio |
First $100 Million |
Next $150 Million |
Excess over $250 Million |
|
||||||||||||||
Large Company
Value |
0.72 | % | 0.67 | % | 0.62 | % | ||||||||||||
Inflation
Protection |
0.58 | % | 0.55 | % | 0.49 | % | ||||||||||||
Short-Term
Bond |
0.35 | % | 0.33 | % | 0.30 | % | ||||||||||||
Long-Term U.S.
Government Bond |
0.555 | % | 0.515 | % | 0.495 | % | ||||||||||||
Multi-Sector
Bond |
0.79 | % | 0.78 | % | 0.77 | % | ||||||||||||
Domestic
Equity |
0.65 | % | 0.55 | % | 0.50 | % | ||||||||||||
International
Growth |
0.75 | % | 0.65 | % | 0.55 | % | ||||||||||||
Asset
Allocation |
0.60 | % | 0.50 | % | 0.40 | % | ||||||||||||
Portfolio |
First $100 Million |
Next $400 Million |
Excess over $500 Million |
|
||||||||||||||
Focused
Appreciation |
0.80 | % | 0.75 | % | 0.70 | % | ||||||||||||
Portfolio |
First $150 Million |
Next $150 Million |
Next $200 Million |
Excess Over $500 Million |
||||||||||||||
Large Cap
Blend |
0.77 | % | 0.70 | % | 0.62 | % | 0.56 | % | ||||||||||
Research
International Core |
0.88 | % | 0.82 | % | 0.75 | % | 0.68 | % | ||||||||||
Portfolio |
First $200 Million |
Excess Over $200 Million |
|
|
||||||||||||||
Index 600
Stock |
0.25 | % | 0.20 | % | ||||||||||||||
Portfolio |
First $250 Million |
Next $250 Million |
Next $500 Million |
Excess Over 1.0 Billion |
||||||||||||||
Emerging
Markets Equity |
1.14 | % | 1.08 | % | 0.96 | % | 0.78 | % | ||||||||||
Portfolio |
First $500 Million |
Excess over $500 Million |
|
|
||||||||||||||
Equity
Income |
0.65 | % | 0.60 | % |
|
Prepare and maintain the books, accounts and other documents specified in Rule 31a-1 under the 1940 Act relating to the performance of services for each Portfolio in accordance with the requirements of Rule 31a-1 and Rule 31a-2 under the 1940 Act and, to the extent required by Rule 31a-3 under the 1940 Act, Mason Street agrees that all records which it maintains for the Portfolios pursuant to its duties hereunder are the property of NMSF and further agrees to surrender promptly to NMSF any such records upon its request. |
|
Determine each Portfolios net asset value in accordance with the provisions of the Prospectus, as well as in accordance with the valuation policies established by the NMSF Board, except for those International Portfolios for which a third party fund accountant is appointed. |
|
Maintain all general ledger accounts and related subledgers; |
|
Compile data for and prepare with respect to the Portfolios notices to the SEC required pursuant to Rule 24f-2 under the 1940 Act and semi-annual reports on Form N-SAR; |
|
Prepare the financial statements for the NMSF Annual and Semi-Annual Reports required pursuant to Section 30(d) under the 1940 Act, subject to the review and approval of NMSF and, where applicable, its independent auditors; compile data for and prepare Form N-CSR; |
|
Compile data for and prepare the NMSF Form N-Q; |
|
Utilizing information provided by NMSF and its agents and service providers, prepare and maintain the NMSF registration statement on Form N-1A with the SEC, including updates thereto; |
|
From time to time as Mason Street deems appropriate, or as is required by applicable law, check each Portfolios compliance with the policies and limitations of each Portfolio relating to its investments as set forth in the Prospectus and applicable rules and regulations, including the 1940 Act, and monitor each Portfolios status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended; |
|
Assist in the acquisition of the NMSF fidelity bond required by the 1940 Act, monitor the amount of the bond and make the necessary SEC filings related thereto; |
|
Maintain and retain all NMSF charter documents and file all documents required to maintain the Series Funds status as a Maryland corporation; |
|
Maintain all necessary or appropriate tax records for each Portfolio and provide tax advice to the Portfolios, except in connection with audits of the tax returns or related tax matters; |
|
Prepare for review and approval by NMSFs independent auditors, and file, the NMSFs Federal, state and local income tax returns; |
|
Calculate historical performance returns for each Portfolio (including yield and total return); |
|
Calculate and arrange for the payment of shareholder dividends and capital gains distributions; |
|
Assist with the preparation of reports to and related materials for the NMSF Board of Directors meetings; attend Board meetings and prepare minutes of meetings; maintain corporate records; |
|
Establish expense budgets and accruals for each Portfolio and cause all appropriate expenses to be paid from NMSF assets on proper authorization from the Series Fund; |
|
Maintain adequate controls over financial reporting designed to provide complete and accurate financial information and disclosures that are certified by officers of the Series Fund; provide sub-certifications, as requested by the officers of NMSF, relating to the adequacy of such controls and the completeness and accuracy of information included in Form N-CSR, Form N-Q, or any other form that may require certification; |
|
On behalf of NMSF, supervise relations with, and monitor the performance of, custodians, depositories, pricing agents, independent public accountants and insurers; |
|
Provide anti-money laundering compliance systems aimed at ensuring compliance with rules and regulations applicable to NMSF; and |
|
Provide other administration and accounting services for NMSF and the Portfolios to the extent agreed to by Mason Street and NMSF. |
Fund |
Management Fee |
Fund |
Management Fee |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Growth
Stock |
$ | 2,327,042 | International Growth |
$ | 1,967,416 | |||||||||
Focused
Appreciation |
$ | 2,223,387 | Research International Core |
$ | 499,217 | |||||||||
Large Cap
Core Stock |
$ | 1,731,261 | International Equity |
$ | 8,121,964 | |||||||||
Large Cap
Blend |
$ | 518,956 | Emerging Markets Equity |
$ | 1,449,859 | |||||||||
Index 500
Stock |
$ | 3,226,993 | Money Market |
$ | 376,131 | |||||||||
Large
Company Value |
$ | 473,420 | Short-Term Bond |
$ | 507,186 | |||||||||
Domestic
Equity |
$ | 2,225,215 | Select Bond |
$ | 4,272,581 | |||||||||
Equity
Income |
$ | 1,823,268 | Long-Term U.S. Government Bond |
$ | 634,954 | |||||||||
Mid Cap
Growth Stock |
$ | 4,708,256 | Inflation Protection |
$ | 820,678 | |||||||||
Index 400
Stock |
$ | 1,174,046 | High Yield Bond |
$ | 1,599,754 | |||||||||
Mid Cap
Value |
$ | 1,010,781 | Multi-Sector Bond |
$ | 1,556,143 | |||||||||
Small Cap
Growth Stock |
$ | 2,285,559 | Commodities Return Strategy |
$ | 401,719 | |||||||||
Index 600
Stock |
$ | 115,774 | Balanced |
$ | 6,780,792 | |||||||||
Small Cap
Value |
$ | 3,149,745 | Asset Allocation |
$ | 1,191,339 |
Brokers commissions and issue and transfer taxes chargeable to the Funds in connection with securities transactions to
which the Fund is a party. |
All taxes payable by the Funds to federal, state or other governmental agencies. |
|||||
All interest charges and expenses. |
Any extraordinary or non-recurring expenses incurred in connection with the operation of the Funds. |
CURRENT AGREEMENTS |
AMENDED AGREEMENT |
|||||
---|---|---|---|---|---|---|
Investment Advisory Fees (but not sub-advisory fees). |
Investment Advisory Fees (but not sub-advisory fees). |
|||||
Charges and expenses of any custodian or depository appointed for the safekeeping of its cash, securities and other
property; charges and expenses of transfer agents and registrars appointed by the Funds. |
The fees, charges and expenses of the Funds custodians as well as any registrar, stock transfer or dividend disbursing
agent, or depository. |
|||||
Fees, charges and expenses of any third party fund accountant for the International Funds. |
CURRENT AGREEMENTS |
AMENDED AGREEMENT | |||||
---|---|---|---|---|---|---|
Charges and expenses of the Funds independent auditors. |
The charges and expenses of the Series Funds independent auditors, including consulting services relating to the
Series Fund. |
|||||
The costs of stock certificates representing shares of the Fund. |
The cost of share certificates, if any, representing Fund shares. |
|||||
All expenses of shareholders and directors meetings. |
All expenses of shareholders and directors meetings, and committee meetings, including expenses associated with
the preparation of reports and related materials for the meetings. |
|||||
Charges and expenses of legal counsel in connection with the Funds corporate existence, corporate and financial
structure and relations with its shareholders. |
The charges and expenses of counsel to the directors of the Series Fund who are not interested persons (as defined in the
1940 Act) and staff or other persons retained by such directors. |
|||||
All dividend and interest related expenses (new funds only*). |
Dividend and interest related charges and expenses. |
|||||
Brokers commissions and issue and transfer taxes chargeable to the Fund in connection with securities transactions to
which the Fund is a party. |
Brokerage commissions and other costs in connection with transactions in the assets of the Funds, including the costs of
complying with Federal, state and foreign laws, rules and regulations. |
|||||
All taxes payable by the Fund to federal, state or other governmental agencies, including foreign taxes. |
All taxes, including issuance and transfer taxes, and corporate fees payable by NMSF to Federal, state or other governmental
agencies. |
|||||
All charges and expenses relating to the preparation and filing of tax and other required regulatory filings in foreign
jurisdictions (new funds only*). |
All charges and expenses relating to tax matters affecting any of the Funds, including the preparation and filing of tax and
other required domestic and foreign regulatory filings, and professional fees associated therewith and audits and other related
matters. |
CURRENT AGREEMENTS |
AMENDED AGREEMENT | |||||
---|---|---|---|---|---|---|
Fees and expenses involved in registering and maintaining registration of the Funds and of its shares with the SEC
(including the preparation and printing of prospectuses for filing with the SEC). |
Registration, filing and other fees and expenses in connection with the requirements of regulatory authorities, exchanges or
organizations with jurisdiction over the Series Fund ( e.g. PCAOB and FASB), including all fees and expenses involved in
registering and maintaining the registration of the Series Fund and its shares with the Securities and Exchange Commission, Commodities Futures Trading
Commission, and other states and foreign jurisdictions, and periodic regulatory reports. |
|||||
All expenses of preparing and printing reports to shareholders. |
All expenses of preparing, edgarization, setting in type, filing, printing and mailing all registration statements and
amendments thereto, prospectuses, statements of additional information, supplements and information statements to existing shareholders (including
holders of variable contracts funded by Series Fund shares), as well as proxy statements, other proxy soliciting materials, shareholder reports and
other communications to existing shareholders (including holders of variable contracts funded by Series Fund shares). |
|||||
Compensation, fees and expenses of directors who are not interested persons (as defined in the 1940 Act) of Mason Street,
and staff and other persons retained by such directors. |
CURRENT AGREEMENTS |
AMENDED AGREEMENT | |||||
---|---|---|---|---|---|---|
Compensation, benefits and expenses of the Chief Compliance Officer of the Series Fund and his or her Series Fund compliance
staff (or the portion thereof relating to their duties and functions for the Series Fund if he, she or they serve multiple roles). |
||||||
Expenses associated with the pricing of the shares of the Funds, including the costs of any pricing service or services
which may be retained pursuant to the authorization of the directors of the Series Fund, securities data and other related charges. |
||||||
The cost of fidelity, directors and officers and errors and omissions insurance for the Directors and officers of the Series
Fund. |
||||||
Such non-recurring or extra ordinary expenses as they may arise, including those relating to actions, suits or proceedings
to which a Fund is, or is threatened to be, a party and the legal obligation which the Fund may have to indemnify the Series Fund directors, officers,
agents or shareholders, with respect thereto. |
||||||
* New Funds means the Index 600, Large Company Value, Inflation Protection, Short-Term Bond, Long-Term U.S. Government
Bond, Multi- Sector Bond, Large Cap Blend, Research International Core, Emerging Markets Equity, and Commodities Return Strategy
Funds. |
Name, Address, and Year of Birth |
Position(s) Held with Fund |
Term of Office and Length of Time Served |
Principal Occupation(s) During Past 5 Years |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
R. David Ells (1968) |
President |
2010 | Managing Director of Mason Street since 2010. Prior thereto, Director of Mason Street. |
|||||||||||
Walter M.
Givler (1957) |
Vice
President, Chief Financial Officer and Treasurer |
2003 | Vice
President Accounting Policy of Northwestern Mutual since 2007. Prior thereto, Vice President of Investment Accounting. |
|||||||||||
Kate M.
Fleming (1962) |
Vice
President Operations |
2004 | Vice
President Operations since 2004 and Treasurer since 2008 of Mason Street. |
|||||||||||
William R.
Walker (1956) |
Vice
President Investments |
1996 | Managing Director of Mason Street. |
|||||||||||
David R.
Keuler (1961) |
Vice
President Investments |
2002 | Managing Director of Mason Street. |
|||||||||||
Michael P.
Johnson (1961) |
Vice
President Investments |
2003 | Director of Mason Street. |
|||||||||||
Jill M.
Grueninger (1964) |
Vice
President Investments |
2006 | Managing Director of Mason Street. |
|||||||||||
Curtis J.
Ludwick (1969) |
Vice
President Investments |
2006 | Director of Mason Street. |
|||||||||||
Andrew T.
Wassweiler (1968) |
Vice
President Investments |
2006 | Director of Mason Street. |
|||||||||||
Mary R.
Linehan (1966) |
Vice
President Investments |
2007 | Managing Director of Mason Street since 2010. Director of Mason Street from 2007 to 2010; Fund Manager, Marshall and Ilsley Corp., from
2003-2007. |
Name, Address, and Year of Birth |
Position(s) Held with Fund |
Term of Office and Length of Time Served |
Principal Occupation(s) During Past 5 Years | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Paul A.
Rokosz (1965) |
Vice
President Investments |
2008 | Managing Director of Mason Street since 2010; Director of Mason Street from 2008 to 2010; prior thereto, Partner and Portfolio Manager in a
joint venture with Roxbury Capital Management. |
|||||||||||
Brian Yeazel (1963) |
Vice-President Investments |
2010 | Managing Director of Mason Street since 2010; Director of Mason Street prior thereto. |
|||||||||||
Steve Lyons (1964) |
Vice
President Investments |
2010 | Director of Mason Street. |
|||||||||||
Steve A.
Warren (1966) |
Vice
President Investments |
2010 | Associate of Mason Street. |
|||||||||||
Jason
Steigman (1962) |
Vice
President Investments |
2011 | Managing Director of Mason Street since 2007; Director of Mason Street prior thereto. |
|||||||||||
Michael W.
Zielinski (1974) |
Chief
Compliance Officer |
2006 | Chief
Compliance Officer of Mason Street. |
|||||||||||
Randy M.
Pavlick (1959) |
Secretary |
2006 | Assistant General Counsel of Northwestern Mutual and Assistant Secretary of Mason Street. |
|||||||||||
Barbara E.
Courtney (1957) |
Controller and Chief Accounting Officer |
1996 | Director of Mutual Fund Accounting of Northwestern Mutual. |
Name |
Position with Mason Street |
Principal Occupation |
||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jefferson V.
DeAngelis |
President and Director |
Senior Vice President of Northwestern Mutual. |
||||||||
Mark G.
Doll |
Director |
Executive Vice President and Chief Investment Officer of Northwestern Mutual. |
||||||||
Chris M.
Bauer |
Director |
President and Chief Executive Officer of Anchor Bank, Madison, Wisconsin. |
Dollar Range of Equity Securities in the Funds |
||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Name of Fund |
Dollar Range |
Aggregate Dollar Range of Equity Securities in All Funds Overseen or to be Overseen by Director or Nominee in Family of Investment Companies |
||||||||||||
Independent Nominee |
||||||||||||||
Miriam M.
Allison |
N/A |
A |
A |
|||||||||||
Robert H.
Huffman III |
N/A |
A |
A |
|||||||||||
Michael G.
Smith |
N/A |
A |
A |
|||||||||||
Christy L.
Brown |
N/A |
A |
A |
|||||||||||
Gail L.
Hanson |
N/A |
A |
A |
|||||||||||
Interested
Nominee |
||||||||||||||
Gary A.
Poliner |
N/A |
A |
A |
Fees and Services to the Series Fund |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2010 |
2011 |
||||||||||
Audit Fees
|
$ | 544,000 | $ | 562,000 | |||||||
Audit-Related
Fees |
| | |||||||||
Tax Fees
|
$ | 88,520 | $ | 99,200 | |||||||
All Other
Fees |
| |
Audit Related Fees relate to assurance and related services that are reasonably related to the performance of the audit or review of NMSFs financial statements that are traditionally performed by the independent auditor. Tax Fees relate to tax services including such things as tax return preparation or review, tax compliance, tax planning and tax advice. |
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