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Equity Index

Small Cap Index

 
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TickerNAV AS OF 10/22/14
NSIDX$11.65 $-0.17 Arrow Down Icon
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Snapshot
For those aggressive investors seeking competitive long-term investment returns through a broadly diversified portfolio, this Fund may be a good choice for you. The Small Cap Index Fund seeks to offer investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the Russell 2000 Index. Our experienced investment team does not use traditional methods of investment management of the Fund, rather the team will buy and sell securities in response to changes in the Russell 2000 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 Russell 2000® 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 are an aggressive investor seeking competitive long-term investment returns through a broadly diversified portfolio, this Fund may be appropriate for you. It seeks to offer investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the Russell 2000 Index.
Risk/Reward Potential
”Risk/Reward

Fund Literature

 
Important risk information can be found on the Portfolio tab.
CUSIP665162723
YTD Total Return-4.90% (as of 10/22/14)
Inception Date09/03/99
Total Net Assets$906,617,753 (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.
Small Cap Index-6.11%-7.44%-4.57%3.76%21.04%14.04%7.88%7.30%
Russell 2000 Index-6.05%-7.36%-4.41%3.93%21.26%14.29%8.19%7.88%
Morningstar Cat. Avg.
Small Blend
-5.56%-6.75%-3.22%5.66%20.91%14.18%8.10%N/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
Small Cap Index0.19%0.15%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.

Calendar Year Returns

 
       2013      2012      2011      2010      2009
Small Cap Index38.65%16.20%-4.49%26.42%27.22%
Russell 2000 Index38.82%16.35%-4.18%26.85%27.16%
Morningstar Category Avg. Small Blend37.39%15.46%-4.07%25.61%31.80%
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
Puma Biotechnology Inc0.3%
Isis Pharmaceuticals Inc0.3%
WEX Inc0.3%
Team Health Holdings Inc0.3%
Graphic Packaging Holding Co0.3%
Ultimate Software Group Inc0.2%
Prosperity Bancshares Inc0.2%
Brunswick Corp0.2%
RLJ Lodging Trust0.2%
CNO Financial Group Inc0.2%
% of Portfolio2.5%
As of 09/30/14
Sector WeightingsFundBenchmark
Financials23.7%23.7%
Information Technology17.9%18.0%
Industrials13.8%13.9%
Health Care13.5%13.4%
Consumer Discretionary13.2%13.2%
Energy5.6%5.5%
Materials5.0%5.0%
Utilities3.3%3.2%
Consumer Staples3.2%3.3%
Telecommunication Services0.8%0.8%
TOTAL100.0%100.0%
As of 09/30/14
Risk Characteristics*Small Cap IndexRussell 2000 Index
Beta1.001.00
Up Market Capture99.60100.00
Down Market Capture100.59100.00
Information Ratio–1.370.00
*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 07/31/14Icon
As of 06/30/14Insert Icon
As of 05/31/14Insert Icon
As of 04/30/14Insert Icon

Fund Characteristics

Number of Holdings1,993
Portfolio Turnover15.62% (as of 03/31/14)
Dividend ScheduleAnnually
Dividend Income Last QuarterN/A
Capital Gain Income Last QuarterN/A
Weighted Average Market Cap ($Mil)$1,731
BenchmarkRussell 2000 Index
Morningstar CategorySmall Blend
Trailing 12-Month Price to Earnings Ratio
Fund19.00
Benchmark19.03
Price to Book Ratio
Fund2.08
Benchmark2.07
Historical 5-Year Earnings Growth
Fund13.83
Benchmark13.21
Asset Allocation 
Stocks97.6%
Cash2.4%
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.
Small Cap Risk: Small-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure. Their stocks are subject to a greater degree of volatility, trade in lower volume and may be less liquid.
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.
Russell 2000® Index is an unmanaged index which measures the performance of the 2,000 smallest of the 3,000 largest U.S. companies, based on market capitalization. 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.

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