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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 Index

Global Real Estate Index

 
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TickerNAV AS OF 09/30/14
NGREX$9.50 $-0.04 Arrow Down Icon
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Snapshot
For those long-term investors who enjoy following the stock performance of real estate companies, this may be the fund for you. The Northern Global Real Estate Index Fund offers an opportunity to invest both inside and outside of the U.S. market and in an asset class you may not currently have in your portfolio. This Fund does have special risks, including sensitivity to changes in the overall economy and interest rate levels.
Fund Objective
Seeks to Replicate Index
Fund Strategy
  • Seek to duplicate the investment composition and overall performance of the stocks included in the FTSE®EPRA®/NAREIT® Global Index.
  • Invest at least 80% of its net assets in equity securities in the Index, in weightings that approximate the relative composition of the Index.
  • Use proprietary quantitative techniques designed to minimize trading costs.
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.
Redemption Fee
2% on shares sold or exchanged within 30 days of purchase
Risk/Reward Potential
”Risk/Reward

Fund Literature

 
CUSIP665162541
YTD Total Return6.47% (as of 09/30/14)
Inception Date07/26/06
Total Net Assets$1,621,727,311 (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.
Global Real Estate Index1.60%3.48%13.56%19.05%11.41%12.20%N/A3.24%
FTSE EPRA/NAREIT
Global Index
1.34%3.54%13.76%18.63%11.38%12.23%N/A3.72%
Morningstar Cat. Avg.
Global Real Estate
1.43%3.37%12.60%19.10%11.92%12.08%N/AN/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.
Global Real Estate Index1.04%6.96%10.88%12.19%8.34%15.48%N/A3.00%
FTSE EPRA/NAREIT
Global Index
1.01%6.90%10.98%11.70%8.38%15.52%N/A3.47%
Morningstar Cat. Avg.
Global Real Estate
1.52%7.45%10.48%13.46%8.65%15.27%N/AN/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 0.50%. 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
Global Real Estate Index0.53%0.50%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.

Calendar Year Returns

 
       2013      2012      2011      2010      2009
Global Real Estate Index1.70%29.44%-8.93%19.40%36.96%
FTSE EPRA/NAREIT Global Index1.57%28.98%-8.72%19.31%37.94%
Morningstar Category Avg. Global Real Estate2.92%31.78%-10.10%17.22%37.01%
Performance quoted represents past performance and does not guarantee future results.
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Portfolio Composition
   
Top 10 HoldingsFund
Simon Property Group Inc3.8%
Mitsui Fudosan Co Ltd2.2%
Mitsubishi Estate Co Ltd2.1%
Unibail-Rodamco SE1.9%
Public Storage1.8%
Equity Residential1.7%
Sun Hung Kai Properties Ltd1.7%
Health Care REIT Inc1.5%
Prologis Inc1.5%
AvalonBay Communities Inc1.4%
% of Portfolio19.6%
As of 08/31/14
Industry WeightingsFundBenchmark
Real Estate Investment Trusts (REITs)68.5%68.4%
Real Estate Management & Development27.0%27.0%
Real Estate3.8%3.9%
Household Durables0.6%0.6%
Healthcare Providers & Services0.1%0.1%
TOTAL100.0%100.0%
   
Top 10 Country WeightingsFundBenchmark
United States44.5%44.5%
Japan11.0%11.0%
Hong Kong7.6%7.6%
Australia6.1%5.9%
United Kingdom5.4%5.4%
Singapore3.4%3.4%
France3.2%3.2%
Canada3.2%3.2%
China2.8%2.8%
Germany1.6%1.6%
TOTAL88.8%88.6%
As of 08/31/14
Risk Characteristics*Global Real Estate IndexFTSE EPRA/NAREIT Global Index
Beta1.001.00
Up Market Capture99.05100.00
Down Market Capture98.76100.00
Information Ratio0.030.00
*Above risk characteristics are based on a 3-year time period
DateHoldings File
As of 08/31/14Insert Icon
As of 07/31/14Insert Icon
As of 06/30/14Insert Icon
As of 05/31/14Insert Icon
As of 04/14/14Insert Icon
As of 03/31/14Insert Icon

Fund Characteristics

Number of Holdings461
Portfolio Turnover9.14% (as of 03/31/14)
Dividend ScheduleQuarterly
Dividend Income Last Quarter$0.1026
Capital Gain Income Last QuarterN/A
Weighted Average Market Cap ($Mil)$12,834
BenchmarkFTSE EPRA/NAREIT Global Index
Morningstar CategoryGlobal Real Estate
Trailing 12-Month Price to Earnings Ratio
Fund22.65
Benchmark22.73
Price to Book Ratio
Fund1.50
Benchmark1.50
Historical 5-Year Earnings Growth
Fund12.75
Benchmark12.76
Asset Allocation 
Stocks100.0%
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.
International Risk: International investing involves increased risk and volatility.
REIT/Real Estate Risk: Investments in the Fund are subject to the risks related to direct investment in real estate, such as real estate risk, regulatory risks, concentration risk, and diversification risk. Investments in REITs involve certain additional unique risks. By itself the Fund does not constitute a complete investment plan and should be considered a long-term investment for investors who can afford to weather changes in the value of their investments.
Index Fund Risk: The performance of the Fund is expected to be lower than that of the Index because of Fund fees and expenses. It is important to remember that there are risks associated with index investing, including the potential risk of market decline, as well as the risks associated with investing in specific companies.
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.
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Thomas E. O'Brien, CFA<sup>&reg;</sup>

Thomas E. O'Brien, CFA®

Portfolio Manager

Northern Global Real Estate Index Fund (NGREX)
Northern Global Sustainability Index Fund (NSRIX)

With Northern Trust Since 2004
Began Career in 1997

Thomas E. O'Brien, Vice President of Northern Trust, is a portfolio manager with the international quantitative equity division. He manages the Northern Global Real Estate Index Fund and Northern Global Sustainability Index Fund.

Prior to joining Northern Trust in 2004, Mr. O'Brien was a principal at State Street Global Advisors in Boston.

Mr. O'Brien received a B.S. in finance from the University of Rhode Island and an MBA from Suffolk University. He is an active CFA® charterholder and a member of the CFA Society Chicago.

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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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