Please be advised you are now leaving the Northern Financial Intermediary section and being directed to a site maintained by Northern Trust. Please click OK to continue.
|For those long-term investors looking to diversify your investment among various asset classes (stocks, bonds, commodities, and other) both domestic and foreign. The Fund seeks to provide long-term capital appreciation and current income. The Fund invests primarily in shares of underlying mutual funds, with its asset allocation model adjusted based on changing market conditions. The Fund will invest significantly in companies that are represented in diversified foreign indices. Dividends, if any, are declared and paid quarterly. Capital gains, if any, are distributed at least annually.
|Capital Appreciation and Current Income|
|For those long-term investors looking to diversify your investment among various asset classes (stocks, bonds, commodities, and other) both domestic and foreign, then this Fund may be right for you.|
|Asset Allocation Weightings|
|YTD Total Return||1.40% (as of 10/24/14)|
|Total Net Assets||$80,365,316 (as of 09/30/14)|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|Global Tactical |
|Asset Allocation |
|Internal Reference |
|Morningstar Cat. Avg. |
|Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here.
The Advisor has agreed to reimburse certain expenses of the Fund (excluding acquired fund fees and expenses; a portion of the compensation paid to each Trustee who is not an officer, director or employee of Northern Trust Corporation or its subsidiaries; expenses related to third-party consultants engaged by the Board of Trustees of the Trust; membership dues paid to the Investment Company Institute and Mutual Fund Directors Forum; extraordinary expenses; and interest, if any) to the extent the "Total Annual Fund Operating Expenses" exceed 0.25%. The contractual limitation may not be terminated before July 31, 2015 without the approval of the Board of Trustees. In the absence of fee waivers, yield, total return, growth since inception and dividends would have been reduced. Total return is based on net change in NAV assuming reinvestment of distributions.
|Gross Expense Ratio||Net Expense Ratio‡|
|Global Tactical Asset Allocation||0.87%||0.66%|
|‡Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.|
|Global Tactical Asset Allocation||11.58%||14.02%||-0.01%||10.80%||20.14%|
|Asset Allocation Blend Index||12.35%||13.09%||1.28%||13.05%||23.59%|
|Internal Reference Benchmark||9.06%||12.37%||-0.05%||12.19%||24.24%|
|Morningstar Category Avg. Moderate Allocation||16.48%||11.72%||-0.11%||11.83%||24.13%|
|Performance quoted represents past performance and does not guarantee future results.|
|FlexShares Morningstar US Market Factor TILT Index Fund||28.1%|
|FlexShares Morningstar Developing Ex-US Market Factor TILT Index Fund||19.8%|
|NF Bond Index Fund||16.0%|
|NF High Yield Fixed Income Fund||13.2%|
|FlexShares Morningstar Emerging Market Factor TILT Index Fund||5.8%|
|NF Short Bond Fund||5.2%|
|FlexShares iBoxx 5-Year Target Duration TIPS Index Fund||4.1%|
|FlexShares Trust STOXX Global Broad Infrastructure Index Fund||3.0%|
|NF Global Real Estate Index Fund||2.9%|
|FlexShares Morningstar Global Upstream Natural Resources Index Fund||1.9%|
|% of Portfolio||100.0%|
|Risk Characteristics*||Global Tactical Asset Allocation||Asset Allocation Blend Index|
|Up Market Capture||103.93||100.00|
|Down Market Capture||105.42||100.00|
|*||Above risk characteristics are based on a 3-year time period|
|Number of Holdings||10|
|Portfolio Turnover||23.95% (as of 03/31/14)|
|Dividend Income Last Quarter||N/A|
|Capital Gain Income Last Quarter||N/A|
|Benchmark||Asset Allocation Blend Index|
|Morningstar Category||Moderate Allocation|
Barclays U.S. Corporate High Yield 2% Issuer Capped Index is an unmanaged index that measures the market of U.S. dollar-denominated, non-investment grade, fixed-rate, taxable corporate bonds. It is a version of the Barclays High Yield Corporate Bond Index except it limits its exposure of each issuer to 2% of the total market value and redistributes any excess market value Index-wide on a pro-rata basis. It is not possible to invest directly in an index.
Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index is a rules-based, market value-weighted index that tracks inflation-protected securities issued by the U.S. Treasury. It is not possible to invest directly in an index.
FTSE EPRA/NAREIT Global Index is a free float, market capitalization weighted real estate index designed to represent publicly traded equity REITs and listed property companies in 38 countries worldwide, covering both the developed and emerging markets. It is not possible to invest directly in an index.
iMoneyNet Fund Avg. – First Tier Institutional Category includes only non-government institutional funds that also are not holding any second tier securities. Portfolio holdings of first tier funds include U.S. Treasury, U.S. other, repos, time deposits, domestic bank obligations, foreign bank obligations, first tier CP, floating rate notes and asset-backed commercial paper. It is not possible to invest directly in an index.
Morningstar Global Upstream Natural Resources Index measures the performance of stocks issued by companies that have significant business operations in the ownership, management and/or production of natural resources in energy, agriculture, precious or industrial metals, timber and water resources sectors as defined by Morningstar’s industry classification standards. Individual stock weights as well as category and regional exposure are capped to provide diversified exposure. It is not possible to invest directly in an index.
MSCI All Country World Index is a free float-adjusted market capitalization index that is designed to measure the equity performance of large and mid cap securities in the global developed and emerging markets. It is not possible to invest directly in an index.
MSCI Emerging Markets Investable Markets Index (IMI) is a free float-adjusted market capitalization index that is designed to measure equity market performance of large, mid, and small cap securities in the global emerging markets. It is not possible to invest directly in an index.
MSCI United States Investable Markets Index (IMI) is a free float-adjusted market capitalization index that is designed to measure equity market performance of large, mid, and small cap securities of the U.S. market. It is not possible to invest directly in an index.
MSCI World ex. USA Investable Markets Index (IMI) is a free float-adjusted market capitalization index that is designed to measure the equity performance of large, mid, and small cap securities in developed markets, excluding the USA. It is not possible to invest directly in an index.
S&P Global Infrastructure Index provides liquid and tradable exposure to 75 companies from around the world that represent the listed infrastructure universe. The index has balanced weights across three distinct infrastructure clusters: Utilities, Transportation, and Energy. It is not possible to invest directly in an index.
With Northern Trust Since 2009
Began Career in 1989
Bob Browne, Executive Vice President and Chief Investment Officer for Northern Trust. He is a member of Northern Trust's Operating Group, reporting directly to the Management Group. Mr. Browne is also a co-manager for the Northern Global Tactical Asset Allocation Fund.
Mr. Browne chairs the firm’s Investment Policy Committee, which sets investment policy for all Northern Trust groups in all asset classes. He is responsible for investment performance, process and philosophy across multiple investment strategies including fixed income, active equity and passive investments. Mr. Browne has more than 25 years of investment experience.
Prior to joining Northern Trust in 2009, Mr. Browne worked for ING Investment Management and was the firm’s Chief Investment Officer for Fixed Income and Proprietary Investments from 2004 until 2009. In this capacity, he oversaw $120 billion in assets under management across retail and institutional clients, as well as the firm’s own insurance assets. From 2002 to 2004, he was founder and Managing Partner of Picador Capital, an alternative investment firm. From 1999 to 2001, he was Co-Head of Americas Fixed Income for Merrill Lynch Investments and he also worked in the firm’s London office from 1997 to 1999 as a senior portfolio manager. Mr. Browne spent the first eight years of his career, from 1989 until 1997, at JP Morgan Investment working as a global fixed income and currency portfolio manager in the firm’s Tokyo and London offices.
Mr. Browne holds a B.A. with a major in economics from the College of the Holy Cross. He also has a Masters in international business studies from the University of South Carolina. He is an active CFA® charterholder.
With Northern Trust Since 2005
Began Career in 2005
Daniel J. Phillips, Vice President of Northern Trust and currently co-manages the Northern Global Tactical Asset Allocation Fund.
Mr. Phillips joined Northern Trust in 2005, and, alongside his Portfolio Manager responsibilities, is an Investment Strategist within the Northern Trust Asset Management business unit, overseeing the firm’s asset allocation processes and serving on the firm’s Investment Policy Committee.
Mr. Phillips received a BBA in finance and economics from the University of Iowa and an MBA in finance, economics and international business from the University of Chicago. He is an active CFA® charterholder.
With Northern Trust Since 2001
Began Career in 1981
Jim McDonald, Executive Vice President and the Chief Investment Strategist for Northern Trust. In addition, he chairs the Northern Trust Tactical Asset Allocation Committee, is a member of the Investment Policy and Private Equity Investment Committees, and is trustee of the Northern Trust Alpha Strategies and Equity Long/Short Strategies Hedge Funds. Mr. McDonald is also a co-manager for the Northern Global Tactical Asset Allocation Fund.
Prior to joining Northern Trust in 2001, Mr. McDonald was Director of Equity Research at ABN AMRO in New York and Chicago (1994-2000) and Equity Research Analyst at ABN AMRO following the Environmental Services Industry (1990-1994). He started his professional career in 1981 with Arthur Andersen & Co. in Detroit.
Mr. McDonald received a BBA from the University of Michigan and an MBA with high distinction from Babson College. He is a member of the CFA Society Chicago and a registered CPA in the state of Michigan.
Not FDIC insured | May lose value | No bank guarantee
Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds before investing. Call 800-595-9111 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.
©2014 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.