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|The Portfolio seeks to preserve capital, maintain liquidity and generate current income by investing primarily in money market instruments issued by, or guaranteed by, the U.S. Government and related repurchase agreements.
|The Portfolio seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity by investing exclusively in U.S. Treasury securities by the U.S. government, and related repurchase agreements.|
|Amortized Cost NAV||$1.00|
|7-Day Current Yield||0.26%|
|Tax-Equivalent 7-Day Yield (As of 06/30/16)||N/A|
|7-Day Effective Yield||0.26%|
|Total Net Assets|
(As of 07/26/16)
|Total Net Assets|
(As of 06/30/16)
|Fund Cut Off Times||Purchases: 1:00 p.m. CT
Redemptions: 1:00 p.m. CT
|Credit Rating||AAAm Standard and Poor's
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|imoneyNet Treasury |
& Repo Instl
|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.|
|Northern Trust Investments, Inc. has contractually agreed to reimburse a portion of the operating expenses of the Portfolio (other than certain excepted expenses, i.e., acquired fund fees and expenses, the compensation paid to each Independent Trustee of the Trust, expenses of third party consultants engaged by the Board of Trustees, membership dues paid to the Investment Company Institute and Mutual Fund Directors Forum, expenses in connection with the negotiation and renewal of the revolving credit facility, extraordinary expenses and interest) to the extent the “Total Annual Portfolio Operating Expenses” exceed 0.20%. This contractual limitation may not be terminated before April 1, 2017 without the approval of the Board of Trustees. In the absence of these reimbursements, 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. The 7-day current yield more closely reflects the current earnings of the Portfolio than the total returns. The Portfolio also includes voluntary expense reimbursements to prevent a negative yield that may change or end at any time. Without the voluntary expense reimbursements, the 7-day current yield would have been 0.28% as of June 30, 2016. In the event the 7-day current yield with waivers and the 7-day current yield without waivers are equal, it would indicate there were no voluntary waivers necessary for the preceding 7-day period.|
|NAV Information: Market Value NAV is calculated using current market quotations, or an appropriate substitute, to value a portfolio and may be reported up to one business day in arrears. This NAV is calculated to four decimal places and is not currently being used for transacting purchase and sale activity. All purchase and sale activity is being transacted at the Amortized Cost NAV of $1.00.|
|Gross Expense Ratio||Net Expense Ratio‡|
|‡Includes contractual expense reimbursements that, if not extended, will end on April 1, 2017. Unaudited as of June 30, 2016.|
|Weighted Average Maturity||Weighted Average Life|
|56 DAYS||114 DAYS|
|Weighted Average Maturity: The weighted average maturity (WAM) of a money market portfolio is the asset-weighted days until maturity of each security in the portfolio. The days until maturity for WAM are calculated using the lower of the stated maturity date or next interest rate reset date.|
|Weighted Average Life: The weighted average life (WAL) of a money market portfolio is the asset-weighted days until maturity of each security in the portfolio. The days to maturity for WAL are calculated using the lower of the stated maturity date or demand feature date.|
|Number of Holdings||62|
|*||Reinvestment date of June 30. The amount shown represents dividends paid from fund net investment income and excludes distributions from capital gain income.|
|Discount Note/Treasury Bill||20.6%|
|Fixed Rate Note/Bond||15.9%|
|Variable Rate Note/Bond||12.1%|
|2 - 15 Days||12.9%|
|16 - 30 Days||4.1%|
|31 - 60 Days||3.5%|
|61 - 97 Days||3.4%|
|98 - 180 Days||11.9%|
|181 - 270 Days||2.5%|
|271 - 366 Days||8.4%|
Northern Institutional Treasury Portfolio (NITXX)
With Northern Trust Since 2007
Began Career in 2004
Bilal Memon, Vice President of Northern Trust, and a member of the Short Duration Fixed Income Group within the Northern Trust Global Investments business unit.
Prior to joining Northern Trust in 2007, Mr. Memon was with Ford Motor Company for three years. He joined them as the Associate Director of Pension Asset Management, became a Fixed Income Portfolio Manager in 2005, and finally became part of the Treasury Staff in 2006.
Mr. Memon received a B.A. in Economics from The University of Chicago and an MBA degree in Analytical Finance and Marketing Management from The University of Chicago Graduate School of Business.
Not FDIC insured | May lose value | No bank guarantee
You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
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.
©2016 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.