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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 its net assets, under normal market conditions, exclusively in, U.S. Treasury securities and related repurchase agreements and other securities that limit their investments to, or are backed by, U.S. Treasury Securities.|
|Amortized Cost NAV||$1.00||$1.00|
|7-Day Current Yield||0.25%||0.20%|
|Tax-Equivalent 7-Day Yield (As of 09/30/16)||N/A||N/A|
|7-Day Effective Yield||0.25%||0.20%|
|Total Net Assets|
(As of 10/21/16)
|Total Net Assets – Combined Share Classes|
(As of 09/30/16)
|Fund Cut Off Times||Purchases: 1:00 p.m. CT
Redemptions: 1:00 p.m. CT
|Credit Rating||Aaa-mf Moody'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 0.15%. 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 0.26% for Shares and 0.21% for Premier Shares as of September 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.
Prior to July 31, 2016, there were no Premier Shares outstanding for the Portfolio. For this reason, the performance information shown prior to this date is only for Shares Class. Premier Shares would have similar annual returns when compared with Shares because Shares and Premier Shares are invested in the same portfolio of securities. The annual returns of Shares would differ from those of Premier Shares only to the extent that the classes do not have the same expenses.
|NAV Information: Market Value NAV is calculated using current market quotations, or an appropriate substitute, to value a portfolio. This NAV 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‡|
|Shares||Premier Shares||Shares||Premier Shares|
|‡Includes contractual expense reimbursements that, if not extended, will end on April 1, 2017. Unaudited as of August 31, 2016.|
For more information about the ratings provided by Moody's, please visit their website at www.moodys.com.
|Weighted Average Maturity||Weighted Average Life|
|55 DAYS||100 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||78|
|Premier Shares Income*||$0.000176|
|*||Reinvestment date of September 30. The amount shown represents dividends paid from fund net investment income and excludes distributions from capital gain income.|
|Discount Note/Treasury Bill||11.2%|
|Fixed Rate Note/Bond||17.6%|
|Variable Rate Note/Bond||10.3%|
|2 - 15 Days||15.6%|
|16 - 30 Days||2.7%|
|31 - 60 Days||4.4%|
|61 - 97 Days||6.3%|
|98 - 180 Days||2.1%|
|181 - 270 Days||6.7%|
|271 - 366 Days||8.8%|
Institutional Portfolio Managed
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.
You could lose money by investing in the Portfolio. All purchase and sale activity is being transacted at the Amortized Cost NAV of $1.00. 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 Portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Portfolio's sponsor has no legal obligation to provide financial support to the Portfolio, and you should not expect that the sponsor will provide financial support to the Portfolio at any time.
Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Institutional Funds before investing. Call 800-637-1380 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.
©2016 Northern Institutional Funds | Northern Institutional Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.