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Equity Index

Emerging Markets Equity Index

 
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TickerNAV AS OF 09/22/14
NOEMX$11.84  $-0.17 Arrow Down Icon
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Snapshot
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.

Fund Objective
Seeks to Replicate Index
Fund Strategy
  • Select stocks on the basis of quantitative analysis with the aim of producing a portfolio that will approximate the performance of the MSCI Emerging Markets Index.
  • Maintain industry diversification, country weightings, market capitalization and other financial characteristics similar to the Index.
  • Buy and sell securities in response to changes in the Index.
Investor Profile
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.
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.
CUSIP665162582
YTD Total Return4.96% (as of 09/22/14)
Inception Date04/25/06
Total Net Assets$2,106,506,332 (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.
Emerging Markets Equity Index2.65%6.81%9.93%20.28%3.93%7.31%N/A4.73%
MSCI Emerging Markets Index2.25%7.00%10.63%19.98%4.35%7.90%N/A5.71%
Morningstar Cat. Avg.
Diversified Emerging Mkts
2.52%5.49%8.97%19.15%4.18%7.46%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.
Emerging Markets Equity Index2.41%6.54%5.41%14.46%-0.85%8.55%N/A4.29%
MSCI Emerging Markets Index2.66%6.60%6.14%14.31%-0.39%9.24%N/A5.30%
Morningstar Cat. Avg.
Diversified Emerging Mkts
2.44%6.61%5.83%14.21%0.13%9.11%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 0.30%. 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.

Annual Expense Ratios

 
 Gross Expense RatioNet Expense Ratio
Emerging Markets Equity Index0.34%0.30%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.

Calendar Year Returns

 
       2013      2012      2011      2010      2009
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.
Important risk information can be found on the Portfolio tab.
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Portfolio Composition
   
Top 10 HoldingsFund
Samsung Electronics Co Ltd3.5%
Taiwan Semiconductor Manufacturing Co Ltd2.4%
Tencent Holdings Ltd2.0%
China Mobile Ltd1.6%
China Construction Bank Corp1.3%
Industrial and Commercial Bank of China Ltd1.2%
Naspers Ltd1.2%
OAO Gazprom1.1%
Itau Unibanco Holding SA1.0%
America Movil SAB de CV1.0%
% of Portfolio16.3%
As of 07/31/14
Sector WeightingsFundBenchmark
Financials27.4%27.7%
Information Technology16.9%16.8%
Energy10.3%10.3%
Consumer Discretionary9.3%9.3%
Materials8.8%8.8%
Consumer Staples8.2%8.2%
Telecommunication Services7.2%7.2%
Industrials6.5%6.4%
Utilities3.5%3.5%
Health Care1.9%1.8%
TOTAL100.0%100.0%
   
Top 10 Country WeightingsFundBenchmark
China19.4%19.4%
South Korea15.7%15.6%
Taiwan11.8%11.8%
Brazil10.9%10.9%
South Africa7.5%7.5%
India6.7%6.7%
Mexico5.1%5.1%
Russia4.8%4.8%
Malaysia3.9%3.9%
Indonesia2.6%2.6%
TOTAL88.4%88.3%
As of 07/31/14
Risk Characteristics*Emerging Markets Equity IndexMSCI Emerging Markets Index
Beta1.001.00
Up Market Capture98.24100.00
Down Market Capture100.25100.00
Information Ratio–0.150.00
*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 04/30/14Insert Icon
As of 03/31/14Insert Icon

Fund Characteristics

Number of Holdings832
Portfolio Turnover32.31% (as of 03/31/14)
Dividend ScheduleAnnually
Dividend Income Last QuarterN/A
Capital Gain Income Last QuarterN/A
Weighted Average Market Cap ($Mil)$37,479
BenchmarkMSCI Emerging Markets Index
Morningstar CategoryDiversified Emerging Markets
Trailing 12-Month Price to Earnings Ratio
Fund12.32
Benchmark12.33
Price to Book Ratio
Fund1.62
Benchmark1.63
Historical 5-Year Earnings Growth
Fund15.30
Benchmark15.29
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.
Emerging Markets Risk: Emerging market investing is subject to additional economic, political, liquidity and currency risks not associated with more developed countries.
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.
MSCI Emerging Markets IndexSM is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. It is not possible to invest directly in an index.
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Steven J. Santiccioli

Steven J. Santiccioli

Portfolio Manager

Northern Emerging Markets Equity Index Fund (NOEMX)
Northern International Equity Index Fund (NOINX)

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.

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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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