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Multi-Manager Mid Cap

 
The Board of Trustees of the Northern Funds has approved the closing and subsequent liquidation and termination of the Multi-Manager Mid Cap Fund on May 19, 2016. The fund was liquidated after the close of business on July 22, 2016. Please contact the Northern Funds Center at 800-595-9111 if you have any questions.
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Snapshot
The Multi-Manager Mid Cap Fund is a good choice for those long-term investors looking to diversity their investments by pursuing the growth potential of mid-sized company stocks. This Fund is for those investors who are aware that mid-sized company stocks are generally riskier than large-company stocks due to greater volatility and less liquidity. The Northern Trust approach blends specialist managers from a broad universe of external mid-cap managers into a single fund. Our managers will invest in those companies whose market capitalization is, at the time the Fund makes an investment, generally within the range of the market capitalization of companies in the Russell Midcap Index.

Fund Objective
Capital Appreciation
Fund Strategy
  • Invest in mid-cap stocks through a variety of external mid-cap managers who have distinct investment styles and strategies.
  • Select complementary managers from a broad universe of investment managers.
  • Blend managers into a single fund in an effort to provide an attractive combination of risk and return.
Investor Profile
If you're a long-term investor looking to diversify your investments by pursuing the growth potential of mid-sized company stocks, then this Fund may be right for you. It is intended for investors who are aware that mid-sized company stocks are generally riskier than large-company stocks due to greater volatility and less liquidity.
Risk/Reward Potential
”Risk/Reward
Sub-Adviser Allocations

Sub-Advisers and Allocations subject to change at any time.

SUB-ADVISERTARGET ALLOCATION*ROLE IN PORTFOLIO
Geneva Capital Management Ltd. 37.5% Conservative approach. Offers growth characteristics, with a valuation overlay.
Vaughan Nelson Investment Management
33.5% Relative value approach. Seeks to invest in companies at valuations materially below their long-term intrinsic value.
LSV Asset Management 29.0% Deep value style with quantitative approach. Systematically exploits judgmental biases and behavioral weaknesses influencing investors.
*Actual allocations may vary.
Important risk information can be found on the Portfolio tab.

 

CUSIP665162574
YTD Total ReturnN/A
Inception Date06/22/06
Total Net AssetsN/A

Total Returns

Total Returns for Month Ending 08/31/16
 Annualized
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Incept.
Multi-Manager Mid CapN/AN/AN/AN/AN/AN/AN/AN/A
Russell Midcap IndexN/AN/AN/AN/AN/AN/AN/AN/A
Morningstar Cat. Avg.
Mid-Cap Blend
N/AN/AN/AN/AN/AN/AN/AN/A

Total Returns

Total Returns for Quarter Ending 06/30/16
 Annualized
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Incept.
Multi-Manager Mid Cap1.67%3.80%4.19%-3.81%7.93%8.05%6.66%6.96%
Russell Midcap Index0.46%3.18%5.50%0.56%10.80%10.90%8.07%N/A
Morningstar Cat. Avg.
Mid-Cap Blend
-0.77%1.49%2.76%-4.33%7.55%8.26%6.39%N/A
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.

Northern Trust Investments, Inc. has contractually agreed to reimburse a portion of the operating expenses of the Fund (other than certain excepted expenses, i.e., acquired fund fees and expenses; the compensation paid to each Independent Trustee of the Trust; expenses of third party consultants engaged by the Board of Trustees; membership dues paid to the Investment Company Institute and Mutual Fund Directors Forum; expenses in connection with the negotiation and renewal of the revolving credit facility; and extraordinary expense and interest) to the extent the "Total Annual Fund Operating Expenses" exceed 1.00%. This contractual limitation may not be terminated before July 31, 2017 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.

Annual Expense Ratios

 
 Gross Expense RatioNet Expense Ratio
Multi-Manager Mid Cap1.05%1.00%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2017.

Calendar Year Returns

 
       2015      2014      2013      2012      2011
Multi-Manager Mid Cap-4.80%6.92%35.40%14.41%-2.99%
Russell Midcap Index-2.44%13.22%34.76%17.28%-1.55%
Morningstar Category Avg. Mid-Cap Blend-4.75%7.80%34.10%16.15%-3.81%
Performance quoted represents past performance and does not guarantee future results.
Important risk information can be found on the Portfolio tab.

 

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Portfolio Composition
   
Top 10 HoldingsFund
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% of PortfolioN/A%
As of 08/31/16
Sector WeightingsFundBenchmark
Financials 0.0 %22.6%
Consumer Discretionary 0.0 %15.9%
Information Technology 0.0 %14.7%
Industrials 0.0 %12.5%
Health Care 0.0 %10.0%
Utilities 0.0 %6.4%
Energy 0.0 %6.0%
Materials 0.0 %5.6%
Consumer Staples 0.0 %5.3%
Telecommunication Services 0.0 %1.0%
TOTAL0%100.0%
As of 08/31/16
Risk Characteristics*Multi-Manager Mid CapRussell Midcap Index
Beta
Up Market Capture
Down Market Capture
Information Ratio
*Above risk characteristics are based on a 3-year time period
   
DateHoldings File
As of 06/30/16Insert Icon
As of 03/31/16Insert Icon

Fund Characteristics

Number of HoldingsN/A
Portfolio Turnover74.19% (as of 03/31/16)
Dividend ScheduleAnnually
Dividend Income Last Quarter
Capital Gain Income Last Quarter
Weighted Average Market Cap ($Mil)N/A
BenchmarkRussell Midcap Index
Morningstar CategoryMid-Cap Blend
Trailing 12-Month Price-to-Earnings Ratio
FundN/A
Benchmark22.66
Price-to-Book Ratio
FundN/A
Benchmark2.64
Historical 5-Year Earnings Growth
FundN/A
Benchmark11.91
Asset Allocation 
%
Cash100.0%
TOTAL100.0%
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.
Russell Midcap® Index is an unmanaged index measuring the performance of the 800 smallest companies in the Russell 1000® Index. It is not possible to invest directly in an index.
Multi-Manager Risk is the risk that the sub-advisers' investment styles will not always be complementary, which could affect the performance of the Fund.
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Christopher E. Vella, CFA<sup>&reg;</sup>, CIO

Christopher E. Vella, CFA®, CIO

Portfolio Manager

Northern Active M Emerging Markets Equity Fund (NMMEX)
Northern Active M International Equity Fund (NMIEX)
Northern Multi-Manager Emerging Markets Debt Opportunity Fund (NMEDX)
Northern Multi-Manager Global Listed Infrastructure Fund (NMFIX)
Northern Multi-Manager Global Real Estate Fund  (NMMGX)
Northern Multi-Manager High Yield Opportunity Fund (NMHYX)
Northern Multi-Manager Large Cap Fund  (NMMLX)
Northern Multi-Manager Mid Cap Fund  (NMMCX)
Northern Multi-Manager Small Cap Fund (NMMSX)

With Northern Trust Since 2004
Began Career in 1993

Christopher E. Vella, CFA®, is Senior Vice President of Northern Trust's Multi-Manager Solutions Practice. He is Chief Investment Officer with responsibility for manager research and portfolio construction processes across Northern Trust's Multi-Manager Solutions Practice. He is responsible for the global manager research platform, consisting of approximately $95B in assets across 200 investment strategies. He manages a team of approximately 25 investment professionals across all traditional asset classes. The team covers all external manager relationships on behalf of Northern Trust's private and institutional clientele.

Prior to joining Northern Trust in 2004, Mr. Vella was a founding member of Goldman Sach's external manager business which consists of institutional and private client assets. While at Goldman, he managed the international and emerging markets equity team. Prior to Goldman Sachs, Mr. Vella spent close to 6 years at SEI Investments working primarily on international equity and emerging markets equity manager research. He has over 20 years of manager research and multi-manager portfolio construction experience.

Mr. Vella received a B.S. magna cum laude in finance with a minor in applied mathematics from Lehigh University and was elected into the Phi Beta Kappa honor society. He is a member of the New York Society of Financial Analysts. He is an active CFA® charterholder.

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