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|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.|
|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.|
|2% on shares sold or exchanged within 30 days of purchase|
|YTD Total Return||-7.59% (as of 10/22/14)|
|Total Net Assets||$251,844,079 (as of 09/30/14)|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|MSCI EAFE Index||-3.84%||-5.88%||-1.38%||4.25%||13.65%||6.56%||6.32%||5.29%|
|Morningstar Cat. Avg.|
Foreign Large Blend
|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.
|Gross Expense Ratio||Net Expense Ratio‡|
|‡Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.|
|MSCI EAFE Index||22.78%||17.32%||-12.14%||7.75%||31.78%|
|Morningstar Category Avg. Foreign Large Blend||19.44%||18.29%||-13.97%||10.24%||31.24%|
|Performance quoted represents past performance and does not guarantee future results.|
|Top 10 Holdings||Fund|
|Itau Unibanco Holding SA||2.7%|
|Roche Holding Ltd||2.7%|
|Samsung Electronics Co Ltd||2.4%|
|Bank of China Ltd||2.2%|
|% of Portfolio||24.5%|
|Top 10 Country Weightings||Fund||Benchmark|
|Risk Characteristics*||International Equity||MSCI EAFE Index|
|Up Market Capture||107.22||100.00|
|Down Market Capture||103.15||100.00|
|*||Above risk characteristics are based on a 3-year time period|
|Number of Holdings||61|
|Portfolio Turnover||16.09% (as of 03/31/14)|
|Dividend Income Last Quarter||N/A|
|Capital Gain Income Last Quarter||N/A|
|Weighted Average Market Cap ($Mil)||$69,493|
|Benchmark||MSCI EAFE Index|
|Morningstar Category||Foreign Large Blend|
|Trailing 12-Month Price to Earnings Ratio|
|Price to Book Ratio|
|Historical 5-Year Earnings Growth|
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.
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.
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