485BPOS 1 d881385d485bpos.htm NORTHWESTERN MUTUAL SERIES FUND, INC. NORTHWESTERN MUTUAL SERIES FUND, INC.

REGISTRATION NOs.  2-89971

                                           811-3990

 

 

 

 

UNITED STATES OF AMERICA

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-1A

   REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933   X                
      PRE-EFFECTIVE AMENDMENT NO.                             
   POST-EFFECTIVE AMENDMENT NO.         76   X
   AND/OR  
   REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY  
   ACT OF 1940   X
   AMENDMENT NO.                                           77   X

NORTHWESTERN MUTUAL SERIES FUND, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)

720 EAST WISCONSIN AVENUE

MILWAUKEE, WISCONSIN 53202

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

(414) 271-1444

(REGISTRANT’S TELEPHONE NUMBER)

LESLI MCLINDEN, SECRETARY

720 EAST WISCONSIN AVENUE

MILWAUKEE, WISCONSIN 53202

(NAME AND ADDRESS OF AGENT FOR SERVICE)

IT IS PROPOSED THAT THIS FILING WILL BECOME EFFECTIVE (CHECK APPROPRIATE BOX)

 

  [X]

IMMEDIATELY UPON FILING PURSUANT TO PARAGRAPH (b)

  [   ]

ON MAY 1, 2019 PURSUANT TO PARAGRAPH (b)

  [   ]

60 DAYS AFTER FILING PURSUANT TO PARAGRAPH (a)(1)

  [   ]

ON (DATE) PURSUANT TO PARAGRAPH (a)(1)

  [   ]

75 DAYS AFTER FILING PURSUANT TO PARAGRAPH (a)(2)

  [   ]

ON (DATE) PURSUANT TO PARAGRAPH (a)(2) OF RULE 485

  [   ]

THIS POST-EFFECTIVE AMENDMENT DESIGNATES A NEW EFFECTIVE DATE FOR A PREVIOUSLY FILED POST-EFFECTIVE AMENDMENT.

This Post-Effective Amendment No. 76 to the Registrant’s Registration Statement on Form N-1A (File No. 2-89971) is being filed to update exhibits to the Registrant’s Post-Effective Amendment No. 74 to its Registration Statement that was previously filed on April 29, 2019 pursuant to Rule 485(b) under the Securities Act of 1933, as amended (the “Securities Act”) (SEC Accession No. 0001193125-19-009572), as supplemented by the Registrant’s filings pursuant to Rule 497(e) under the Securities Act made on June 28, 2019, September 6, 2019, September 18, 2019, September 30, 2019, October 1, 2019, October 17, 2019 and December 9, 2019. Accordingly, this Post-Effective Amendment No. 76 consists only of a facing page, this explanatory note and Part C of the Registration Statement on Form N-1A, setting forth the exhibits to the Registration Statement. This Post-Effective Amendment No. 76 does not modify any other part of the Registrant’s Post-Effective Amendment No. 74 to its Registration Statement. This Post-Effective Amendment No. 76 shall become effective immediately upon filing with the Securities and Exchange Commission. The contents of the Registrant’s Post-Effective Amendment No. 74 to its Registration Statement, as supplemented, are hereby incorporated by reference.

 

 

 

 

PART C

OTHER INFORMATION

 

Item 28. Exhibits

 

Exhibit        Description    Filed Herewith/Incorporated Herein By Reference To  
(a)1(a)    Articles of Incorporation of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on December 22, 1983    EX-99.B1 to Form N-1A Post-Effective Amendment No. 13 for Northwestern Mutual Series Fund, Inc. filed on April 26, 1996
(a)1(b)    Articles of Amendment of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on May 3, 1993    EX-99.B1(a) to Form N-1A Post-Effective Amendment No. 13 for Northwestern Mutual Series Fund, Inc. filed on April 26, 1996
(a)1(c)    Resolutions to Amend the Articles of Incorporation of Northwestern Mutual Series Fund, Inc. adopted by the Directors on February 4, 1999 and filed with the State of Maryland on February 11, 1999    Exhibit A(1) to Form N-1A Post-Effective Amendment No. 16 for Northwestern Mutual Series Fund, Inc. filed on February 25, 1999
(a)1(d)    Resolutions to Amend the Articles of Incorporation of Northwestern Mutual Series Fund, Inc. adopted by the Directors on May 3, 2001 and filed with the State of Maryland on May 4, 2001    Exhibit A(1) to Form N-1A Post-Effective Amendment No. 20 for Northwestern Mutual Series Fund, Inc. filed on May 17, 2001
(a)1(e)    Resolutions to Amend the Articles of Incorporation of Northwestern Mutual Series Fund, Inc. adopted by the Directors on November 7, 2002 and filed with the State of Maryland on January 31, 2003    Exhibit A(1) to Form N-1A Post-Effective Amendment No. 23 for Northwestern Mutual Series Fund, Inc. filed on February 14, 2003
(a)1(f)    Resolutions to Amend the Articles of Incorporation of Northwestern Mutual Series Fund, Inc. adopted by the Directors on February 6, 2003 and filed with the State of Maryland on February 7, 2003    Exhibit A(2) to Form N-1A Post-Effective Amendment No. 23 for Northwestern Mutual Series Fund, Inc. filed on February 14, 2003
(a)1(g)    Resolutions to Amend the Articles of Incorporation of Northwestern Mutual Series Fund, Inc. adopted by the Directors on August 3, 2006 and filed with the State of Maryland on February 2, 2007    Exhibit (a)1(g) to Form N-1A Post-Effective Amendment No. 29 for Northwestern Mutual Series Fund, Inc. filed on February 23, 2007
(a)1(h)    Resolutions to Amend the Articles of Incorporation of Northwestern Mutual Series Fund, Inc. adopted by the Directors on February 21, 2007 and filed with the State of Maryland on February 22, 2007    Exhibit (a)1(h) to Form N-1A Post-Effective Amendment No. 30 for Northwestern Mutual Series Fund, Inc. filed on February 23, 2007
(a)1(i)    Articles of Amendment of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on April 25, 2007    Exhibit (a)1(i) to Form N-1A Post-Effective Amendment No. 31 for Northwestern Mutual Series Fund, Inc. filed on April 27, 2007
(a)1(j)    Articles of Amendment of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on April 7, 2008    Exhibit (a)1(j) to Form N-1A Post-Effective Amendment No. 34 for Northwestern Mutual Series Fund, Inc. filed on April 23, 2008

 

C–1

Exhibit        Description    Filed Herewith/Incorporated Herein By Reference To  
(a)1(k)    Articles Supplementary of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on December 22, 2010.    Exhibit (a)1(k) to Form N-1A Post-Effective Amendment No. 40 for Northwestern Mutual Series Fund, Inc. filed on February 11, 2011
(a)1(l)    Articles Supplementary of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on May 15, 2013    Exhibit (a)1(1) to Form N-1A Post-Effective Amendment No. 52 for Northwestern Mutual Series Fund, Inc. filed on December 16, 2013
(a)1(m)    Articles Supplementary of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on December 5, 2013    Exhibit (a)1(m) to Form N-1A Post-Effective Amendment No. 52 for Northwestern Mutual Series Fund, Inc. filed on December 16, 2013
(a)1(n)    Articles Supplementary of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on March 10, 2015    Exhibit (a)1(n) to Form N-1A Post-Effective Amendment No. 58 for Northwestern Mutual Series Fund, Inc. filed on April 30, 2015
(a)1(o)    Articles of Amendment of Northwestern Mutual Series Fund, Inc. filed with the State of Maryland on April 1, 2016    Exhibit (a)1(o) to Form N-1A Post-Effective Amendment No. 62 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2016
(a)1(p)    Certificate of Correction filed with the State of Maryland on July 27, 2015    Exhibit (a)1(o) to Form N-1A Post-Effective Amendment No. 60 for Northwestern Mutual Series Fund, Inc. filed on July 30, 2015
(b)1(a)    Amended and Restated By-Laws of Northwestern Mutual Series Fund, Inc. adopted on August 5, 2004    Exhibit (b)1(j) to Form N-1A Post-Effective Amendment No. 26 for Northwestern Mutual Series Fund, Inc. filed on February 18, 2005
(b)1(b)    Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated May 4, 2006    Exhibit (b)1(k) to Form N-1A Post-Effective Amendment No. 29 for Northwestern Mutual Series Fund, Inc. filed on February 23, 2007
(b)1(c)    Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated August 6, 2008    Exhibit (b)1(l) to Form N-1A Post-Effective Amendment No. 36 for Northwestern Mutual Series Fund, Inc. filed on February 20, 2009
(b)1(d)    Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated November 16, 2011    Exhibit (b)1(m) to Form N-1A Post-Effective Amendment No. 46 for Northwestern Mutual Series Fund, Inc. filed on April 27, 2012
(b)1(e)    Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated December 31, 2014    Exhibit (b)1(e) to Form N-1A Post-Effective Amendment No. 57 for Northwestern Mutual Series Fund, Inc. filed on February 20, 2015
(b)1(f)    Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated November 19, 2015    Exhibit (b)1(f) to Form N-1A Post-Effective Amendment No. 61 for Northwestern Mutual Series Fund, Inc. filed on February 19, 2016
(b)1(g)    Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated August 16, 2016    Exhibit (b)1(g) to Form N-1A Post-Effective Amendment No. 64 for Northwestern Mutual Series Fund, Inc. filed on December 22, 2016
(b)1(h)    Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated November 28, 2018    Exhibit (b)1(h) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(b)1(i)   

Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated June 5, 2019

 

    Filed herewith
(d)1(a)    Amended and Restated Advisory Agreement between Northwestern Mutual Series Fund, Inc. and Mason Street Advisors, LLC dated April 30, 2012    Exhibit (d)1(i) to Form N-1A Post-Effective Amendment No. 48 for Northwestern Mutual Series Fund, Inc. filed on December 17, 2012

 

C–2

Exhibit        Description    Filed Herewith/Incorporated Herein By Reference To  
(d)1(b)    Amended Exhibit A to the Amended and Restated Advisory Agreement between Northwestern Mutual Series Fund, Inc. and Mason Street Advisors, LLC dated April 30, 2012, as amended November 15, 2013    Exhibit (d)1(j) to Form N-1A Post-Effective Amendment No. 52 for Northwestern Mutual Series Fund, Inc. filed on December 16, 2013
(d)2(a)    Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Fiduciary Management, Inc. (on behalf of the Large Cap Blend Portfolio) dated June 5, 2019    Filed herewith
(d)2(b)    Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Delaware Investments Fund Advisers (on behalf of the Domestic Equity Portfolio) dated August 29, 2018    Exhibit (d)2(b) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(d)2(c)(1)    Fourth Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and T. Rowe Price Associates, Inc. (on behalf of the Small Cap Value, Equity Income and Short-Term Bond Portfolios) dated November 28, 2018    Exhibit (d)2(c) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(d)2(c)(2)    Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and T. Rowe Price Associates, Inc. (on behalf of Growth Stock Portfolio) dated August 29, 2019    Filed herewith
(d)2(d)    Third Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Pacific Investment Management Company LLC (on behalf of the Long-Term U.S. Government Bond and Multi-Sector Bond Portfolios) dated November 28, 2018    Exhibit (d)2(d) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(d)2(e)    Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Loomis, Sayles & Company, L.P. (on behalf of the Focused Appreciation Portfolio) dated August 29, 2018    Exhibit (d)2(e) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(d)2(f)    Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and FIAM LLC (on behalf of the International Growth Portfolio) dated June 5, 2019    Filed herewith
(d)2(g)    Third Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Massachusetts Financial Services Company (on behalf of the Research International Core Portfolio) dated June 5, 2019    Filed herewith

 

C–3

Exhibit        Description    Filed Herewith/Incorporated Herein By Reference To  
(d)2(h)    Fourth Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Templeton Investment Counsel, LLC (on behalf of the International Equity Portfolio) dated June 5, 2019    Filed herewith
(d)2(i)    Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Wellington Management Company LLP (on behalf of the Small Cap Growth Stock, Large Cap Core Stock and Mid Cap Growth Stock Portfolio) dated February 28, 2019    Exhibit (d)2(j) to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019
(d)2(j)    Third Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and American Century Investment Management, Inc. (on behalf of the Large Company Value, Mid Cap Value and Inflation Protection Portfolios) dated August 29, 2018    Exhibit (d)2(k) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(d)2(k)    Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and BlackRock Advisors, LLC (on behalf of the Government Money Market Portfolio) dated November 28, 2018    Exhibit (d)2(l) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(d)2(l)    Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Wells Capital Management, Incorporated (on behalf of the Select Bond Portfolio) dated November 28, 2018    Exhibit (d)2(m) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(d)2(m)    Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Aberdeen Asset Managers Limited (on behalf of the Emerging Markets Equity Portfolio) dated June 5, 2019    Filed herewith
(d)2(n)    Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Federated Investment Management Company (on behalf of the High Yield Bond Portfolio) dated August 29, 2018    Exhibit (d)2(o) to Form N-1A Post-Effective Amendment No. 73 for Northwestern Mutual Series Fund, Inc. filed on January 15, 2019
(g)1    Custody Agreement between Northwestern Mutual Series Fund, Inc. and State Street Bank and Trust Company dated August 14, 2017    Exhibit (g)1 to Form N-1A Post-Effective Amendment No. 68 for Northwestern Mutual Series Fund, Inc. filed on January 19, 2018
(h)1(a)    License Agreement between Standard & Poor’s Corporation and Northwestern Mutual Series Fund, Inc. (on behalf of the Index 400 Stock Portfolio), dated February 19, 1999    Exhibit H(9) to Form N-1A Post-Effective Amendment No. 16 for Northwestern Mutual Series Fund, Inc. filed on February 25, 1999
(h)1(b)    Form of License Agreement between Standard    Exhibit (h)1(b) to Form N-1A Post-Effective Amendment

 

C–4

Exhibit        Description    Filed Herewith/Incorporated Herein By Reference To  
     & Poor’s, a division of The McGraw-Hill Companies, Inc. and Northwestern Mutual Series Fund, Inc. (on behalf of the Index 600 Stock Portfolio), dated April 27, 2007    No. 31 for Northwestern Mutual Series Fund, Inc. filed on April 27, 2007
(h)2(a)    Agreement to Waive Mason Street Advisors, LLC Investment Advisory Fees Relating to Certain Portfolios of Northwestern Mutual Series Fund, Inc. dated March 1, 2019    Exhibit (h)2(a) to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019
(h)2(b)    Agreement to Pay or Reimburse Certain Expenses between Mason Street Advisors, LLC and Northwestern Mutual Series Fund, Inc. dated March 1, 2019    Exhibit (h)2(b) to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019
(i)    Opinion and Consent of Counsel    Exhibit (i) to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019
(j)    Consent of Independent Registered Public Accounting Firm    Exhibit (j) to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019
(p)1    Personal Trading Policy Adopted by Mason Street Advisors, LLC and Northwestern Mutual Series Fund, Inc. dated January 1, 2018    Exhibit (p)1 to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019
(p)2    T. Rowe Price Group, Inc. and Its Affiliates Code of Ethics and Conduct, effective June 3, 2013    Exhibit (p)1(h) to Form N-1A Post-Effective Amendment No. 52 for Northwestern Mutual Series Fund, Inc. filed on December 16, 2013
(p)3    Franklin Templeton Investments Code of Ethics revised May 2012    Exhibit (p)5(h) to Form N-1A Post-Effective Amendment No. 50 for Northwestern Mutual Series Fund, Inc. filed on April 30, 2013
(p)4    American Century Investments Code of Ethics revised in 2011    Exhibit (p)7(c) to Form N-1A Post-Effective Amendment No. 42 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2011
(p)5    MFS (Massachusetts Financial Services Company) Code of Ethics Policy effective April 30, 2018    Exhibit (p)5 to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019
(p)6    PIMCO Code of Ethics effective January 2013    Exhibit (p)9(d) to Form N-1A Post-Effective Amendment No. 50 for Northwestern Mutual Series Fund, Inc. filed on April 30, 2013
(p)7    Delaware Investments Code of Ethics effective January 1, 2013    Exhibit (p)11(b) to Form N-1A Post-Effective Amendment No. 50 for Northwestern Mutual Series Fund, Inc. filed on April 30, 2013
(p)8    Fiduciary Management, Inc. Code of Ethics effective October 31, 2009    Exhibit (p)12(a) to Form N-1A Post-Effective Amendment No. 48 for Northwestern Mutual Series Fund, Inc. filed on December 17, 2012
(p)9    Wellington Management Company LLP Code of Ethics effective April 30, 2017    Exhibit (p)10 to Form N-1A Post-Effective Amendment No. 69 for Northwestern Mutual Series Fund, Inc. filed on February 22, 2018
(p)10    BlackRock Advisors, LLC Code of Business Conduct and Ethics effective July 21, 2014    Exhibit (p)14 to Form N-1A Post-Effective Amendment No. 56 for Northwestern Mutual Series Fund, Inc. filed on November 17, 2014

 

C–5

Exhibit        Description    Filed Herewith/Incorporated Herein By Reference To  
(p)11    BlackRock Advisors, LLC Personal Trading Policy effective October 1, 2014    Exhibit (p)15 to Form N-1A Post-Effective Amendment No. 56 for Northwestern Mutual Series Fund, Inc. filed on November 17, 2014
(p)12    Wells Capital Management, Inc. Joint Code of Ethics and Policy on Personal Securities Transactions and Trading on Insider Information effective April 24, 2014    Exhibit (p)16 to Form N-1A Post-Effective Amendment No. 56 for Northwestern Mutual Series Fund, Inc. filed on November 17, 2014
(p)13    Federated Investment Management Company Code of Business Conduct and Ethics effective July 25, 2013    Exhibit (p)17 to Form N-1A Post-Effective Amendment No. 56 for Northwestern Mutual Series Fund, Inc. filed on November 17, 2014
(p)14    Federated Investment Management Company Code of Ethics for Access Persons effective September 30, 2012    Exhibit (p)18 to Form N-1A Post-Effective Amendment No. 56 for Northwestern Mutual Series Fund, Inc. filed on November 17, 2014
(p)15    Loomis, Sayles & Company, L.P. Code of Ethics as amended June 2, 2015    Exhibit (p)18 to Form N-1A Post-Effective Amendment No. 60 for Northwestern Mutual Series Fund, Inc. filed on July 30, 2015
(p)16    Loomis, Sayles & Company, L.P. Identifying and Managing Conflicts of Interest Policies and Procedures effective May 2015    Exhibit (p)19 to Form N-1A Post-Effective Amendment No. 60 for Northwestern Mutual Series Fund, Inc. filed on July 30, 2015
(p)17    FIAM LLC Code of Ethics for Personal Investing effective February 21, 2017    Exhibit (p)20 to Form N-1A Post-Effective Amendment No. 66 for Northwestern Mutual Series Fund, Inc. filed on April 28, 2017
(p)18    Aberdeen Asset Managers Limited Code of Ethics Policy effective May 1, 2016    Exhibit (p)21 to Form N-1A Post-Effective Amendment No. 65 for Northwestern Mutual Series Fund, Inc. filed on February 23, 2017
(q)    Power of Attorney    Exhibit (q) to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019

 

Item 29.

Persons Controlled by or under Common Control with Registrant

Shares of the Registrant have been offered and sold only to The Northwestern Mutual Life Insurance Company (“Northwestern Mutual”), a mutual insurance company organized by a special act of the Wisconsin Legislature, and its separate investment accounts (either directly or indirectly) created pursuant to Wisconsin insurance laws. The separate investment accounts are registered under the Investment Company Act of 1940 as unit investment trusts, and the purchasers of variable annuity contracts and variable life insurance policies issued in connection with such accounts have the right to instruct Northwestern Mutual with respect to the voting of the Registrant’s shares held by those accounts. Subject to such voting instruction rights, Northwestern Mutual and its separate investment accounts (either directly or indirectly through one or more of the Registrant’s investment portfolios operating as an affiliated fund of funds) control the Registrant. However, the present practice of Northwestern Mutual, as disclosed elsewhere in this Amended Registration Statement, is to vote any shares of the Registrant that are held as general assets in the same proportions as the shares for which voting instructions are received. Additionally, shares of the Registrant held by its investment portfolios operating as an affiliated fund of funds are also voted in the same proportion as the shares for which Northwestern Mutual receives voting instructions.

The subsidiaries of Northwestern Mutual, as of April 1, 2019, as well as their jurisdiction of incorporation and Northwestern Mutual’s direct or indirect ownership percentage, are set forth below.

 

C–6

NORTHWESTERN MUTUAL CORPORATE STRUCTURE1

(as of April 1, 2019)

 

Legal Entity Name    Domestic
        Jurisdiction         		                Owner(s)                         Owner %         

Operating Subsidiaries

               

Mason Street Advisors, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Northwestern Long Term Care Insurance Company (2)

    Wisconsin    The Northwestern Mutual Life Insurance Company    100.00
Northwestern Mutual Investment Management Company, LLC (2)    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Northwestern Mutual Investment Services, LLC (2)

    Wisconsin    The Northwestern Mutual Life Insurance Company    100.00

Northwestern Mutual Wealth Management Company (2)

    United States    The Northwestern Mutual Life Insurance Company    100.00

All Other Subsidiaries

               

1838938 Alberta Ltd. (2)

    Canada    The Northwestern Mutual Life Insurance Company    100.00

1890 Maple, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

3412 Exchange, LLC (2)

    Delaware    NM Imperial, LLC    100.00

45East11 (2)

    Cayman Islands    NYLV, LLC    100.00

777 North Van Buren Apartments, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

777 North Van Buren Condominium Association, Inc. (2)

    Wisconsin    The Northwestern Mutual Life Insurance Company    100.00

777 North Van Buren Parking, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

777 North Van Buren Retail, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

AFE Brentwood Park, LLC (2)

    Delaware    Cortona Holdings, LLC    100.00

Amber, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

Artisan Garden Apartments, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Baraboo, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Bayridge, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

 

C–7

Legal Entity Name    Domestic
        Jurisdiction         		                Owner(s)                         Owner %         

BCC Cancer Center Venture, LP (2)

    Delaware    NM Cancer Center GP, LLC    0.01
   NM Imperial, LLC    83.99
   RE Corp.    16.0

Bishop Square, LLC (2)

    Delaware    NM BSA, LLC    100.00

Bradford II SPE, LLC (2)

    Delaware    C – Land Fund, LLC    100.00

Bradford, Inc. (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Bradford Master Association Inc. (2)

    North Carolina    C – Land Fund, LLC    100.00

Burgundy, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

Cedarstone, LLC (2)

    Delaware    Baraboo, Inc.    100.00

Chateau, LLC (2)

    Delaware    NML Securities Holdings, LLC    100.00

Chelsea Ventures, LLC (2)

    Maryland    The Northwestern Mutual Life Insurance Company    100.00

C – Land Fund, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

Coral, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Cortona Holdings, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

Cream City Venture Capital, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Crosland Greens, LLC (2)

    North Carolina    C – Land Fund, LLC    100.00

Dortmund, LLC (2)

    Delaware    NML Securities Holdings, LLC    100.00

Fairfield Potomac Club, LLC (2)

    Delaware    RE Corp.    35.00
   The Northwestern Mutual Life Insurance Company    65.00

FB #2, LLC (2)

    Maryland    Chelsea Ventures, LLC    100.00

GRO, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

GRO-SUB, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Hamptons PBG, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    90.00
   NWM ZOM GP, LLC    10.00

Hazel, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

 

C–8

Legal Entity Name    Domestic
        Jurisdiction         		                Owner(s)                         Owner %         

Higgins, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Hobby, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Hollenberg 1, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Klode, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Kristiana International Sales, Inc. (2)

    U.S. Virgin Islands    Hobby, Inc.    100.00

Logan, Inc. (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

Maroon, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Mason & Marshall, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Millbrook Apartments Associates L.L.C. (2)

    Virginia    NM Imperial, LLC    100.00

Model Portfolios, LLC (2)

    Delaware    NML Securities Holdings, LLC    100.00

MPC Park 27 Industrial, LLC (2)

    Florida    The Northwestern Mutual Life Insurance Company    100.00

Network Office Cashiership, LLC (2)

    Delaware    NM Career Distribution Holdings, LLC    100.00

Nicolet, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

NM BSA, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

NM Cancer Center GP, LLC (2)

    Delaware    NM Imperial, LLC    100.00

NM Career Distribution Holdings, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM DFW Lewisville, LLC (2)

    Delaware    NM Majestic Holdings, LLC    100.00

NM Gen, LLC (2)

    Delaware    NML Securities Holdings, LLC    100.00

NM GP Holdings, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM Green, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

NM Harrisburg, Inc. (2)

    Pennsylvania    Bradford, Inc.    100.00

NM Imperial, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

NM Investment Holdings, LLC. (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM Lion, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

NM Majestic Holdings, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

NM Neptune, LLC (2)

    Delaware    NM Regal, LLC    100.00

 

C–9

Legal Entity Name    Domestic
        Jurisdiction         		                Owner(s)                         Owner %         

NM Pebble Valley LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM QOZ Fund, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM RE Funds, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

NM Regal, LLC (2)

    Delaware    NML Securities Holdings, LLC    100.00

NM Twin Creeks GP, LLC (2)

    Delaware    NM Imperial, LLC    100.00

NMC V Equity Fund, LP (2)

    Delaware    NMC V GP, LLC    100.00

NMC V GP, LLC (2)

    Delaware    NM GP Holdings, LLC    100.00

NM-Hemlock, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM-Morristown, LLC (2)

    Delaware    NM Career Distribution Holdings, LLC    100.00

NM-Pulse, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM-SAS, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM-Skye, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NM-West Hartford, LLC (2)

    Delaware    NM Career Distribution Holdings, LLC    100.00

NML Development Corporation (2)

    Delaware    NML Securities Holdings, LLC    100.00

NML Real Estate Holdings, LLC (2)

    Wisconsin    The Northwestern Mutual Life Insurance Company    100.00

NML Securities Holdings, LLC (2)

    Wisconsin    The Northwestern Mutual Life Insurance Company    100.00

NMLSP1, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

NMRM Holdings, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

North Van Buren, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Northwestern Broadway Plaza, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Northwestern Ellis Company (2)

    Nova Scotia    Coral, Inc.    100.00

Northwestern Mutual Capital GP II, LLC (2)

    Delaware    NM GP Holdings, LLC    100.00

 

C–10

Legal Entity Name    Domestic
        Jurisdiction         		                Owner(s)                         Owner %         

Northwestern Mutual Capital GP III, LLC (2)

    Delaware    NM GP Holdings, LLC    100.00

Northwestern Mutual Capital GP IV, LLC (2)

    Delaware    NM GP Holdings, LLC    100.00

Northwestern Mutual Capital GP, LLC (2)

    Delaware    NM GP Holdings, LLC    100.00

Northwestern Mutual Capital Mezzanine Fund II, LP (2)

    Delaware    Northwestern Mutual Capital GP II, LLC    100.00
Northwestern Mutual Capital Mezzanine Fund III, LP (2)    Delaware    Northwestern Mutual Capital GP III, LLC    100.00
Northwestern Mutual Capital Mezzanine Fund IV,
LP (2)		    Delaware    Northwestern Mutual Capital GP IV, LLC    100.00
Northwestern Mutual Capital Strategic Equity Fund II, LP (2)    Delaware    Northwestern Mutual Capital GP II LLC    100.00
Northwestern Mutual Capital Strategic Equity Fund III, LP (2)    Delaware    Northwestern Mutual Capital GP III LLC    100.00
Northwestern Mutual Capital Strategic Equity Fund IV, LP (2)    Delaware    Northwestern Mutual Capital GP IV, LLC    100.00
Northwestern Mutual Life Clubs Associated, Inc. (2)    Wisconsin    The Northwestern Mutual Life Insurance Company    100.00

Northwestern Mutual MU TLD Registry, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Northwestern Mutual Registry, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Northwestern Mutual Series Fund, Inc. (3)

    Maryland    The Northwestern Mutual Life Insurance Company    100.00

NorthWoods Phase I, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NorthWoods Phase II, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NWM ZOM GP, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

NYLV, LLC (2)

    Delaware    BCC Cancer Center Venture, LP    100.00

Osprey Links Golf Course, LLC (2)

    Delaware    Osprey Links, LLC    100.00

Osprey Links, LLC (2)

    Delaware    NM Imperial, LLC    99.00
   RE Corp    1.0

Plantation Oaks MHC-NM, LLC (2)

    Delaware    NM Imperial, LLC    100.00

 

C–11

Legal Entity Name    Domestic
        Jurisdiction         		                Owner(s)                         Owner %         

RE Corp. (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

Regency NM Johns Creek, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Regina International Sales, Inc. (2)

    U.S. Virgin Islands    Hobby, Inc.    100.00

Ruhl Financial Group, LLC (2)

    Delaware    NM Career Distribution Holdings, LLC    100.00

Russet, Inc. (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

Scotty, LLC (2)

    Delaware    Hobby, Inc.    5.85
   Maroon, Inc.    62.11
   North Van Buren, Inc.    4.64
   Stadium and Arena Management, Inc.    27.40

Stadium and Arena Management, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Tapestry Condominium Owners Association, Inc. (2)

    Tennessee    The Northwestern Mutual Life Insurance Company    100.00

Trade Street Associates I, LLC (2)

    Delaware    The Northwestern Mutual Life Insurance Company    100.00

Tupelo, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

Two Con Holdings, LLC (2)

    Delaware    Bishop Square, LLC    100.00

Two Con SPE, LLC (2)

    Delaware    Two Con Holdings, LLC    100.00

Two Con, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

Ventura Lakes MHC-NM, LLC (2)

    Delaware    NM Imperial, LLC    100.00

Walden OC, LLC (2)

    Delaware    NML Real Estate Holdings, LLC    100.00

West Huron Joint Venture (2)

    Washington    NM Imperial, LLC    99.00
   Burgundy, LLC    1.0

White Oaks, Inc. (2)

    Delaware    NML Securities Holdings, LLC    100.00

 

  (1)

Certain subsidiaries are omitted on the basis that, considered in the aggregate at year end 2018, they did not constitute a significant subsidiary as defined by Regulation S-X. Certain investment partnerships and limited liability companies that hold real estate assets of The Northwestern Mutual Life Insurance Company are not represented.

 

  (2)

Subsidiary included in the consolidated financial statements.

 

  (3)

Northwestern Mutual Series Fund, Inc. consists of 27 series of capital stock, each a separate investment portfolio (the “Portfolios”). The Portfolios consist of : Growth Stock Portfolio, Focused Appreciation Portfolio, Large Cap Core Stock Portfolio, Large Cap Blend Portfolio, Index 500 Stock Portfolio, Large Company Value Portfolio, Domestic Equity Portfolio, Equity Income Portfolio, Mid Cap Growth Stock Portfolio, Index 400 Stock Portfolio,

 

C–12

 

Mid Cap Value Portfolio, Small Cap Growth Stock Portfolio, Index 600 Stock Portfolio, Small Cap Value Portfolio, International Growth Portfolio, Research International Core Portfolio, International Equity Portfolio, Emerging Markets Equity Portfolio, Government Money Market Portfolio, Short-Term Bond Portfolio, Select Bond Portfolio, Long-Term U.S. Government Bond Portfolio, Inflation Protection Portfolio, High Yield Bond Portfolio, Multi-Sector Bond Portfolio, Balanced Portfolio, Asset Allocation Portfolio.

 

Item 30.

Indemnification

Article IX of Registrant’s by-laws is included as an exhibit to the Registration Statement under the Securities Act of 1933 and the Investment Company Act of 1940. In addition to indemnification pursuant to the Registrant’s by-laws, the Registrant’s directors may in certain circumstances be eligible for indemnification by Northwestern Mutual. Pursuant to action by the Northwestern Mutual trustees, and in accordance with the by-laws of Northwestern Mutual, indemnification by Northwestern Mutual is extended to directors of the Registrant against all reasonable expenses in a successful defense in a proceeding, and liability incurred in a proceeding to which such person was a party because he or she is or was a director of the Registrant. Indemnification is not available if liability was incurred because the director breached or failed to perform a duty owed to Registrant and the breach or failure to perform constituted any of the following: (a) a willful failure to deal fairly with Registrant or its stockholders in connection with a matter in which the director has a material conflict of interest; (b) a violation of criminal law unless the director had reasonable cause to believe his or her conduct was lawful or no reasonable cause to believe his or her conduct was unlawful; (c) a transaction in which the director derived an improper personal benefit; or (d) willful misconduct. Determination of rights to such indemnification is pursuant to the procedures set forth in Northwestern Mutual’s by-laws. The directors are covered under a directors and officers liability insurance policy in the name of the Series Fund. It is in the amount of $25 million ($15 million primary layer and a $10 million secondary layer), with a $500,000 deductible. The cost of the insurance is paid by the Registrant.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 (the “Act”) may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is therefore unenforceable.

 

Item 31.

Business and Other Connections of Investment Adviser

Mason Street Advisors, LLC (“MSA”), the Registrant’s investment adviser, also provides investment advisory services for Northwestern Mutual and other institutional clients. Several of the directors and officers of MSA also serve as officers of Northwestern Mutual.

Information regarding the business and other connections of each sub-adviser, and its officers and directors is set forth in each sub-adviser’s current Form ADV filed with the Securities and Exchange Commission. The chart below sets forth each sub-adviser and their respective SEC file number.

 

Sub-adviser          SEC Number      

American Century Investment Management, Inc.

    801-8174

Massachusetts Financial Services Company

    801-17352

T. Rowe Price Associates, Inc.

    801-856

Pacific Investment Management Company LLC

    801-48187

Templeton Investment Counsel, LLC

    801-15125

Fiduciary Management, Inc.

    801-15164

Delaware Investments Fund Advisers, a Series of Macquarie Investment Management Business Trust

    801-32108

 

C–13

Sub-adviser          SEC Number      

Wellington Management Company LLP

    801-15908

Wells Capital Management, Incorporated

    801-21122

Federated Investment Management Company

    801-34612

BlackRock Advisors, LLC

    801-47710

Loomis, Sayles & Company, L.P.

    801-170

FIAM LLC

    801-63658

Aberdeen Asset Managers Limited

    801-75074

 

Item 32.

Principal Underwriters

Not applicable.

 

Item 33.

Location of Accounts and Records

Pursuant to the investment advisory agreement, MSA, the Registrant’s adviser, provides or arranges with Northwestern Mutual, its affiliate, for the provision of facilities and personnel for maintaining the Registrant’s books and records. Each account, book or other document required to be maintained by Section 31(a) of the 1940 Act and Rules 17 CFR §§ 270-31a-1 to 31a-3 promulgated thereunder, is kept at 720 East Wisconsin Avenue, Milwaukee, Wisconsin 53202, the address of MSA and of Northwestern Mutual, except for records held and maintained by State Street Bank and Trust Company, 1 Iron Street, Boston, MA, 02110, relating to its function as custodian.

 

Item 34.

Management Services

Not applicable.

 

Item 35.

Undertakings

Not applicable.

 

C–14

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant, Northwestern Mutual Series Fund, Inc., certifies that it meets all of the requirements for effectiveness of this registration statement under Rule 485(b) under the Securities Act and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Milwaukee, and State of Wisconsin, on the 30th day of January, 2020.

 

 

NORTHWESTERN MUTUAL SERIES FUND, INC.

 

(Registrant)

  By:   

/s/ KATE M. FLEMING

   
     Kate M. Fleming, President   

Pursuant to the requirements of the Securities Act of 1933, this Amended Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

 

Signature

     

Title

     

/s/ KATE M. FLEMING

      President and    January 30, 2020
Kate M. Fleming      Principal Executive Officer   

/s/ TODD M. JONES

      Vice President, Chief    January 30, 2020
Todd M. Jones      Financial Officer and Treasurer   

/s/ BARBARA E. COURTNEY

      Controller and    January 30, 2020
Barbara E. Courtney      Chief Accounting Officer   

/s/ MIRIAM M. ALLISON*

      Director    January 30, 2020
Miriam M. Allison        

/s/ CHRISTY L. BROWN*

      Director    January 30, 2020
Christy L. Brown        

/s/ WILLIAM J. GERBER*

      Director    January 30, 2020
William J. Gerber        

/s/ GAIL L. HANSON*

      Director    January 30, 2020
Gail L. Hanson        

/s/ ROBERT H. HUFFMAN III*

      Director    January 30, 2020
Robert H. Huffman III        

/s/ DAVID RIBBENS*

      Director    January 30, 2020
David Ribbens        

/s/ DONALD M. ULLMANN*

      Director    January 30, 2020
Donald M. Ullmann        

/s/ RONALD P. JOELSON

      Director    January 30, 2020
Ronald P. Joelson        

 

*By

    /s/ KATE M. FLEMING                
   Kate M. Fleming, Attorney in Fact, pursuant to the Power of Attorney filed as Exhibit (q) to Form N-1A Post-Effective Amendment No. 74 for Northwestern Mutual Series Fund, Inc. filed on April 29, 2019

 

C–15

EXHIBIT INDEX

 

Exhibit No.  

  

Exhibit

(b)1(i)

  

Amendment to By-Laws of Northwestern Mutual Series Fund, Inc. dated June 5, 2019

(d)2(a)

  

Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Fiduciary Management, Inc. (on behalf of the Large Cap Blend Portfolio) dated June 5, 2019

(d)2(c)(2)

  

Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and T. Rowe Price Associates, Inc. (on behalf of Growth Stock Portfolio) dated August 29, 2019

(d)2(f)

  

Second Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and FIAM LLC (on behalf of the International Growth Portfolio) dated June 5, 2019

(d)2(g)

  

Third Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Massachusetts Financial Services Company (on behalf of the Research International Core Portfolio) dated June 5, 2019

(d)2(h)

  

Fourth Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Templeton Investment Counsel, LLC (on behalf of the International Equity Portfolio) dated June 5, 2019

(d)2(m)

  

Amended and Restated Investment Sub-Advisory Agreement between Mason Street Advisors, LLC and Aberdeen Asset Managers Limited (on behalf of the Emerging Markets Equity Portfolio) dated June 5, 2019

 

C–16