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|Emerging markets exposure may be suitable for those investors who have an above-average tolerance to market volatility and seek a global component to their diversified investment portfolio. Our Emerging Markets Equity Index Fund intends to invest a substantial portion of its total assets in foreign countries that are considered emerging markets. These markets involve additional risks including currency fluctuation, less market liquidity, more market volatility and political instability. The fund may invest more than 25% of it's assets in securities of issuers located in a single foreign country.
|Seeks to Replicate Index|
|If you are a long-term investor seeking access to the total return potential of emerging markets equities, this Fund may be right for you. Emerging markets exposure may be appropriate for investors with an above-average tolerance for market volatility who seek a global component for a broadly diversified investment portfolio.|
|2% on shares sold or exchanged within 30 days of purchase|
|YTD Total Return||-0.71% (as of 10/17/14)|
|Total Net Assets||$1,967,033,849 (as of 09/30/14)|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|Emerging Markets Equity Index||-7.50%||-3.53%||1.68%||3.95%||7.38%||3.79%||N/A||3.72%|
|MSCI Emerging Markets Index||-7.41%||-3.50%||2.43%||4.30%||7.19%||4.42%||N/A||4.69%|
|Morningstar Cat. Avg.|
Diversified Emerging Mkts
|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 0.30%. 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‡|
|Emerging Markets Equity Index||0.34%||0.30%|
|‡Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.|
|Emerging Markets Equity Index||-3.03%||18.80%||-19.17%||18.28%||72.64%|
|MSCI Emerging Markets Index||-2.60%||18.22%||-18.42%||18.88%||78.51%|
|Morningstar Category Avg. Diversified Emerging Mkts||-0.14%||18.15%||-19.86%||19.26%||73.81%|
|Performance quoted represents past performance and does not guarantee future results.|
|Top 10 Holdings||Fund|
|Samsung Electronics Co Ltd||3.2%|
|Taiwan Semiconductor Manufacturing Co Ltd||2.4%|
|Tencent Holdings Ltd||2.0%|
|China Mobile Ltd||1.8%|
|China Construction Bank Corp||1.3%|
|Itau Unibanco Holding SA||1.2%|
|Industrial and Commercial Bank of China Ltd||1.1%|
|Petroleo Brasileiro SA||1.0%|
|Hon Hai Precision Industry Co Ltd||1.0%|
|% of Portfolio||16.2%|
|Top 10 Country Weightings||Fund||Benchmark|
|Risk Characteristics*||Emerging Markets Equity Index||MSCI Emerging Markets Index|
|Up Market Capture||98.92||100.00|
|Down Market Capture||100.66||100.00|
|*||Above risk characteristics are based on a 3-year time period|
|Number of Holdings||833|
|Portfolio Turnover||32.31% (as of 03/31/14)|
|Dividend Income Last Quarter||N/A|
|Capital Gain Income Last Quarter||N/A|
|Weighted Average Market Cap ($Mil)||$37,911|
|Benchmark||MSCI Emerging Markets Index|
|Morningstar Category||Diversified Emerging Markets|
|Trailing 12-Month Price to Earnings Ratio|
|Price to Book Ratio|
|Historical 5-Year Earnings Growth|
With Northern Trust Since 2003
Began Career in 1993
Steven J. Santiccioli, Vice President of Northern Trust, manages the Northern Emerging Markets Equity Index Fund and Northern International Equity Index Fund.
Prior to joining Northern Trust in 2003, Mr. Santiccioli was a portfolio manager with Deutsche Bank. Prior to his portfolio manager position at Deutsche, he served as the head of the accounting group for international index portfolios.
Mr. Santiccioli received a B.A. from Bucknell University and an MBA from Fordham University.
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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