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Northern Trust Press Release

 
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Global Infrastructure Fund Launched by Northern Trust

 

Offers exposure to companies with potential for attractive yields, stable cash flows and inflation protection

 

CHICAGO, September 25, 2012 —

Responding to investor demand for investment strategies seeking to produce dividend yields while aiming to provide downside protection, Northern Trust (Nasdaq: NTRS) announced today the launch of the Northern Multi-Manager Global Listed Infrastructure Fund (NMFIX).

"Infrastructure - including airports, ports, toll roads and similar assets - has unique and attractive characteristics as an investment," said Chris Vella, Chief Investment Officer for Northern Trust Multi-Manager Investments. "We see this as a space that has the potential to provide relatively stable cash flows, attractive yields, inflation protection and downside protection. We also like that the companies this fund will invest in often have limited competition due to the high barriers of entry into the markets they serve."

Northern's Multi-Manager Global Listed Infrastructure Fund seeks total return through both income and capital appreciation. Under its investment strategy, at least 80 percent of assets will be invested in securities of infrastructure companies listed on a domestic or foreign exchange. Infrastructure firms include energy, transportation, communication and utility companies. This is a global fund, and normally the fund will invest at least 40 percent in infrastructure companies tied to foreign countries, including emerging markets and frontier markets.

The Fund's total net operating expense ratio is 1.00 percent, and has a redemption fee of 2 percent on assets sold or exchanged within 30 days of purchase. The minimum investment is $2,500.

The Fund takes a multi-manager approach, with assets allocated to multiple outside sub-advisers using distinctive investment styles. The Northern Trust Company of Connecticut (NTCC) will conduct manager research, selection, optimization and oversight. Investment sub-advisers are Brookfield Investment Management and Macquarie Capital Investment Management.

Northern Trust is a pioneer in multi-manager solutions, having launched our first multi-manager program in 1979.  As of June 30, 2012, Northern Trust managed over $35.7 billion assets in multi-manager programs, in addition to assets under advisement of $23.2 billion for institutional and personal clients.  Northern Trust invests with more than 200 external managers worldwide, offering personal and institutional solutions that include retail mutual funds, alternative asset classes, emerging manager programs and total investment program management.

Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.


About Brookfield Investment Management

Brookfield Investment Management is a wholly owned subsidiary of Brookfield Asset Management Inc., a publicly held global alternative asset manager with approximately $150 billion in assets under management as of March 31, 2012. The company has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. It has a range of public and private investment products and services, which leverage its expertise and experience and provide Brookfield with a competitive advantage in the markets where it operates. Brookfield is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and BAM.A, respectively, and on NYSE Euronext under the symbol BAMA. For more information, please visit www.brookfield.com.

About Macquarie Capital Investment Management LLC

Macquarie Capital Investment Management LLC is a part of Macquarie Funds Group and a wholly-owned, indirect subsidiary of Macquarie Group Limited a global provider of banking, financial, advisory, investment and funds management services. Macquarie Funds Group is a global asset manager with approximately $335 billion in assets under management as of March 31, 2012. For more information, visit www.macquarie.com.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2012, Northern Trust had assets under custody of US$4.6 trillion, and assets under investment management of US$704.3 billion.  For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.

Important Risk Information

Equity Risk: Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. Mid Cap Risk: Mid capitalization stocks typically carry additional risk, since smaller companies generally have higher risk of failure and, historically, their stocks have experienced a greater degree of volatility. Small Cap Risk: Small capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure. Emerging and Frontier Markets Risk: Emerging and frontier markets investing may be subject to additional economic, political, liquidity, and currency risks not associated with more developed countries. Additionally, frontier countries generally have smaller economies or less developed capital markets than traditional emerging markets and, as a result, the risks of investing in emerging market countries are magnified in frontier countries. Concentration Risk: Investing a high percentage of net assets in securities in a specific industry, the Fund may be subject to greater volatility than a fund that is more broadly diversified. Currency Risk: Foreign currencies will fluctuate in value relative to the U.S. dollar; therefore you may lose money if the local currency of a foreign market depreciates against the U.S. dollar. Foreign (Non-U.S.) Securities Risk: Investing in foreign (non-U.S.) securities may result in the Fund experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies, due to less liquid markets, foreign government intervention and adverse economic, political, diplomatic, financial and regulatory factors. Infrastructure Companies Risk: Infrastructure companies may not realize projected revenue volumes due to; cost overruns; changes in terms making a project no longer economical; macroeconomic factors may raise the average cost of funding; government regulation; government budgetary constraints; special tariffs and/or changes in tax law and unfavorable accounting standards. Liquidity Risk: Some securities held by the Fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid securities also may be difficult to value. If the Fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the Fund may be forced to sell at a loss. Master Limited Partnerships (MLPs) Risk: Investing in MLPs involves certain risks related to investing in the underlying assets of the MLPs and risks associated with pooled investment vehicles. MLPs that concentrate in a particular industry or a particular geographic region are subject to risks associated with such industry or region. The benefit derived from the Fund’s investment in MLPs is largely dependent on the MLPs being treated as partnerships for federal income tax purposes, treatment of an MLP (owned by the Fund) as a corporation would materially reduce the after-tax return to the Fund with respect to its investment in the MLP. The Fund must include its allocable share of the MLP’s taxable income in its taxable income, whether or not it receives a distribution of cash from the MLP. In such cases, the Fund may have to liquidate securities to make required distributions to the Fund’s shareholders. Non-Diversified Risk: The Fund invests in a smaller number of securities than the average mutual fund. The change in value of a single holding may have a more pronounced effect on the Fund's net asset value and performance than for other funds.

 
 
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