UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File Number:  811-5371

(Check one): [ ] Form 10-K and Form 10-KSB

             [ ] Form 10-Q and Form 10-QSB

             [ ] Form 20-F

             [ ] Form 11-K

             [X] Form N-CSR

             [ ] Form N-SAR

For Period Ended: December 31, 2003
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ___________________

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NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS
VERIFIED ANY INFORMATION CONTAINED HERIN.
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

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PART I - REGISTRANT INFORMATION
RUSSELL INVESTMENT FUNDS
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Full Name of Registrant

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Former Name if Applicable

909 'A' STREET
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Address of Principal Executive Office (Street and Number)

TACOMA, WA 98402
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City, State and Zip Code

PART II -- RULES 12b-25(b) AND (c)




If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

[X]  (a) The reasons described in reasonable detail in Part III of this form
     could not be eliminated without unreasonable effort or expense;

[ ]  (b) The subject annual report,  semi-annual report,  transition report on
     Form 10-K, Form 20-F,11-K or Form N-SAR, or portion thereof,  will be filed
     on or before the fifteenth  calendar day following the prescribed due date;
     or the  subject  quarterly  report or  transition  report on Form 10-Q,  or
     portion thereof will be filed on or before the fifth calendar day following
     the prescribed due date; and

[ ]  (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
     has been attached if applicable.

PART III -- NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report portion thereof, could not be filed within the
prescribed time period.

The time extension is necessary since adequate information is not yet available
and is required in order to prepare and file a complete and accurate filing.

PART IV-- OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this
notification

 Mark Swanson                                    (253)  596-2493
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(Name)                                        (Area Code) (Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).

        [ X ]   Yes                        [   ]    No

(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?

        [   ]   Yes                        [ X ]   No

If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons
why a reasonable estimate of the results cannot be made.

Russell Investment Funds
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(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date:    February 3, 2004                   By:  /s/  Mark Swanson

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