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Equity Index

Mid Cap Index

 
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TickerNAV AS OF 10/20/14
NOMIX$16.97 $0.17 Arrow Up Icon
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Snapshot
This fund is a good choice for those moderate risk investors who seek competitive long-term investment returns through a broadly diversified portfolio. It offers a high degree of relative predictability in an uncertain stock market by seeking investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the S&P MidCap 400 Index.

Fund Objective
Seeks to Replicate Index
Fund Strategy
  • Passively managed, the Fund seeks to duplicate the investment composition and overall performance of the stocks included in the S&P MidCap 400 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 moderate risk investor seeking competitive long-term investment returns through a broadly diversified portfolio, this Fund may be appropriate for you. It offers a high degree of relative predictability in an uncertain stock market by seeking investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the S&P MidCap 400 Index.
Risk/Reward Potential
”Risk/Reward
Overall Morningstar RatingTM
”Morningstar

Among 326 mid-cap blend funds derived from a weighted average of the fund's 3- and 5-year risk-adjusted returns as of 09/30/14.

Mid Cap Index received 3 stars for the 3-year rating among 326 mid-cap blend funds and 4 stars for the 5-year rating among 299 funds. The 10-year Morningstar Rating is not available.

Past performance is no guarantee of future results. Ratings reflect fee waivers in effect; in their absence, ratings may have been lower.

Star ratings are based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The overall rating is a weighted average of the 3-, 5-, and 10-year (if applicable) returns. 5 stars = top 10% of funds in an asset category; 4 stars = next 22.5% of funds; 3 stars = next 35%; 2 stars = next 22.5% and 1 star = next 10%. A fund must be in existence three years to be rated. Ratings are subject to change monthly.

©2014 Morningstar, Inc. All Rights Reserved. Morningstar and/or its content providers are the proprietors of this information; do not permit its unauthorized copying or distribution; do not warrant it to be accurate, complete or timely; and are not responsible for damages or losses arising from its use.

Fund Literature

 
Important risk information can be found on the Portfolio tab.
CUSIP665130100
YTD Total Return0.47% (as of 10/20/14)
Inception Date03/22/05
Total Net Assets$1,342,980,013 (as of 09/30/14)

Total Returns

Total Returns for Quarter Ending 09/30/14
 Annualized
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Incept.
Mid Cap Index-4.60%-4.02%3.08%11.63%22.21%16.12%N/A9.19%
S&P MidCap 400 Index-4.55%-3.98%3.22%11.82%22.43%16.37%N/A9.55%
Morningstar Cat. Avg.
Mid-Cap Blend
-3.89%-3.30%3.00%12.20%21.86%14.91%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 0.15%. 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
Mid Cap Index0.18%0.15%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.

Calendar Year Returns

 
       2013      2012      2011      2010      2009
Mid Cap Index33.24%17.76%-2.05%26.26%37.15%
S&P MidCap 400 Index33.50%17.88%-1.73%26.64%37.38%
Morningstar Category Avg. Mid-Cap Blend34.10%16.15%-3.81%22.52%37.39%
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
Equinix Inc0.7%
Skyworks Solutions Inc0.7%
Hanesbrands Inc0.7%
Endo International PLC0.7%
Salix Pharmaceuticals Ltd0.6%
Henry Schein Inc0.6%
SL Green Realty Corp0.6%
Advance Auto Parts Inc0.6%
Church & Dwight Co Inc0.6%
Signet Jewelers Ltd0.6%
% of Portfolio6.4%
As of 09/30/14
Sector WeightingsFundBenchmark
Financials22.3%22.3%
Information Technology17.2%16.9%
Industrials16.1%16.1%
Consumer Discretionary13.7%13.7%
Health Care9.7%9.7%
Materials7.5%7.5%
Energy5.3%5.4%
Utilities4.6%4.7%
Consumer Staples3.1%3.2%
Telecommunication Services0.5%0.5%
TOTAL100.0%100.0%
As of 09/30/14
Risk Characteristics*Mid Cap IndexS&P MidCap 400 Index
Beta1.001.00
Up Market Capture99.46100.00
Down Market Capture100.51100.00
Information Ratio–1.610.00
*Above risk characteristics are based on a 3-year time period
   
DateHoldings File
As of 09/30/14Insert Icon
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

Fund Characteristics

Number of Holdings401
Portfolio Turnover12.72% (as of 03/31/14)
Dividend ScheduleAnnually
Dividend Income Last QuarterN/A
Capital Gain Income Last QuarterN/A
Weighted Average Market Cap ($Mil)$5,113
BenchmarkS&P MidCap 400 Index
Morningstar CategoryMid-Cap Blend
Trailing 12-Month Price to Earnings Ratio
Fund20.50
Benchmark20.51
Price to Book Ratio
Fund2.25
Benchmark2.25
Historical 5-Year Earnings Growth
Fund13.20
Benchmark12.85
Asset Allocation 
Stocks98.2%
Cash1.8%
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.
Mid Cap Risk: Mid-capitalization stocks typically carry additional risk, since smaller companies generally have higher risk of failure and, historically, their stocks have experienced a greater degree of volatility.
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.
S&P MidCap 400® Index is an unmanaged index consisting of 400 mid-cap stocks. The S&P MidCap 400® Index covers over 7% of the U.S. equities market. It is not possible to invest directly in an index.
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Brent Reeder

Brent Reeder

Portfolio Manager

Northern Mid Cap Index Fund (NOMIX)
Northern Small Cap Index Fund (NSIDX)
Northern Stock Index Fund (NOSIX)

With Northern Trust Since 1993
Began Career in 1993

Brent Reeder, Senior Vice President, is Director of U.S. Index Equities at Northern Trust. Mr. Reeder is responsible for equity index portfolio management in the United States. Prior to Director of U.S. Index Equities, he was a senior portfolio manager on the U.S. equity team. Mr. Reeder manages the Northern Mid Cap Index Fund, Northern Small Cap Index Fund and Northern Stock Index Fund.

Prior to his current role, Mr. Reeder's responsibilities included foundations and endowments team leader in the trust operations division at Northern Trust.

Mr. Reeder received a B.A. in economics from DePauw University, and an MBA in finance from DePaul University. He is an Associated Person with the National Futures Association.

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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.

©2014 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.