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Financial Intermediary
Learn about asset management solutions designed for Retirement Plan Advisors, TAMPs/Outsourcing Providers, Subadvisory Program Sponsors, RIAs/Financial Advisors and Trust Institutions.
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Learn about asset management solutions including: global index management, active equity and fixed income, target retirement date funds, and manager of manager programs.
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Equity Active

International Equity

 
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TickerNAV AS OF 09/29/14
NOIGX$9.76 $-0.12 Arrow Down Icon
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Snapshot
For those growth-oriented investors who enjoy the opportunities and portfolio diversification international investing offers, this will be the Fund for you. Our experienced investment team, using research and quantitative analysis, buys securities of a broad mix of international companies that offer the potential for long-term, above-average growth at a reasonable price. Foreign securities may involve additional risks, including social and political instability, reduced market liquidity and currency volatility.
Fund Objective
Capital Appreciation
Fund Strategy
  • Seek outstanding companies through fundamental research that is based on a deep understanding of industry and sector dynamics.
  • Combine creativity in stock analysis and selection with intelligent portfolio construction.
  • Seek to provide consistent results through disciplined risk management.
Investor Profile
If you are a growth-oriented investor who is interested in the opportunities and portfolio diversification international investing offers, you may find this Fund suitable. You should have a more aggressive risk profile and be able to tolerate the above-average volatility and special risks that investing in foreign markets entails.
Redemption Fee
2% on shares sold or exchanged within 30 days of purchase
Risk/Reward Potential
”Risk/Reward

Fund Literature

 
Important risk information can be found on the Portfolio tab.
CUSIP665162509
YTD Total Return-2.60% (as of 09/29/14)
Inception Date04/01/94
Total Net Assets$264,131,229 (as of 08/31/14)

Total Returns

Total Returns for Month Ending 08/31/14
 Annualized
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Incept.
International Equity0.49%-2.02%1.80%16.30%11.45%8.58%7.21%5.35%
MSCI EAFE Index-0.15%-1.17%2.56%16.43%11.36%8.21%7.01%5.52%
Morningstar Cat. Avg.
Foreign Large Blend
0.66%-0.60%1.97%15.47%9.97%8.08%6.91%N/A

Total Returns

Total Returns for Quarter Ending 06/30/14
 Annualized
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Incept.
International Equity0.19%3.78%4.09%25.38%7.92%11.73%7.09%5.51%
MSCI EAFE Index0.96%4.09%4.78%23.57%8.10%11.77%6.93%5.68%
Morningstar Cat. Avg.
Foreign Large Blend
1.19%3.71%3.79%20.83%6.62%11.27%6.83%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.

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 1.06%. 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.

Annual Expense Ratios

 
 Gross Expense RatioNet Expense Ratio
International Equity1.17%1.06%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.

Calendar Year Returns

 
       2013      2012      2011      2010      2009
International Equity24.12%17.88%-13.10%8.56%31.39%
MSCI EAFE Index22.78%17.32%-12.14%7.75%31.78%
Morningstar Category Avg. Foreign Large Blend19.44%18.29%-13.97%10.24%31.24%
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
Itau Unibanco Holding SA3.6%
Halliburton Co2.7%
Roche Holding Ltd2.6%
Novartis AG2.5%
Prudential PLC2.5%
Samsung Electronics Co Ltd2.5%
Diageo PLC2.3%
SAP SE2.3%
Petroleo Brasileiro SA2.3%
Bank of China Ltd2.2%
% of Portfolio25.5%
As of 08/31/14
Sector WeightingsFundBenchmark
Financials27.9%25.8%
Industrials13.2%12.5%
Energy13.0%7.0%
Health Care9.2%10.8%
Consumer Discretionary9.1%11.6%
Consumer Staples8.2%11.0%
Information Technology7.9%4.6%
Materials4.6%8.0%
Telecommunication Services4.4%4.9%
Utilities2.5%3.8%
TOTAL100.0%100.0%
   
Top 10 Country WeightingsFundBenchmark
United Kingdom18.1%21.6%
Germany15.2%8.8%
France14.4%9.8%
Switzerland10.7%9.1%
Brazil7.6%0.0%
Japan7.4%20.4%
United States4.6%0.0%
South Korea4.0%0.0%
Spain3.5%3.6%
Sweden2.7%3.0%
TOTAL88.2%76.3%
As of 08/31/14
Risk Characteristics*International EquityMSCI EAFE Index
Beta1.091.00
Up Market Capture107.22100.00
Down Market Capture107.55100.00
Information Ratio0.020.00
*Above risk characteristics are based on a 3-year time period
DateHoldings File
As of 06/30/14Insert Icon
As of 03/31/14Insert Icon

Fund Characteristics

Number of Holdings60
Portfolio Turnover16.09% (as of 03/31/14)
Dividend ScheduleAnnually
Dividend Income Last QuarterN/A
Capital Gain Income Last QuarterN/A
Weighted Average Market Cap ($Mil)$72,287
BenchmarkMSCI EAFE Index
Morningstar CategoryForeign Large Blend
Trailing 12-Month Price to Earnings Ratio
Fund14.43
Benchmark15.86
Price to Book Ratio
Fund1.50
Benchmark1.68
Historical 5-Year Earnings Growth
Fund3.46
Benchmark6.93
Asset Allocation 
Stocks95.3%
Cash4.7%
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.
International Risk: International investing involves increased risk and volatility.
MSCI EAFE® Index is a free float-adjusted market capitalization index that is designed to measure the equity performance of developed markets, excluding the U.S. and Canada. It is not possible to invest directly in an index.
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Douglas J. McEldowney, CFA<sup>&reg;</sup>, CPA

Douglas J. McEldowney, CFA®, CPA

Portfolio Manager

Northern International Equity Fund (NOIGX)

With Northern Trust Since 2006
Began Career in 1984

Douglas J. McEldowney, Senior Vice President of Northern Trust, manager of the Northern International Equity Fund.

Mr. McEldowney started in the investment industry in 1984, managing portfolios for high net worth and institutional clients as well as mutual funds. He has research experience encompassing private equity, mergers and acquisitions as well as domestic and international equity security analysis. At his predecessor firms, he was a research analyst, investment committee member and senior portfolio manager.

Prior to joining Northern Trust in 2006, Mr. McEldowney served as a Portfolio Manager from 1999 to 2003 at Invesco Funds and from 2003 to 2006 at Franklin Templeton.

Mr. McEldowney received a B.A. from the University of Kentucky and an MBA from Rollins College. He is an active CFA® charterholder and a CPA.

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Not FDIC insured | May lose value | No bank guarantee

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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.

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