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Equity Active

Multi-Manager Large Cap

 
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TickerNAV AS OF 09/18/14
NMMLX$10.59 $0.05 Arrow Up Icon
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Snapshot
For those long-term investors looking to diversify your investments by pursuing the growth potential of large-company stocks, then this Fund may be of interest to you. Our approach blends a "multi-manager" structure whereby the Fund's assets are allocated to one or more Sub-Advisers, in percentages determined at the discretion of the Investment Advisers. These managers - who have distinct investment styles and strategies - will invest primarily in securities whose market capitalization at the time of purchase is similar to that of companies in the Russell 1000 Index.

Fund Objective
Capital Appreciation
Fund Strategy
  • Invest in large-cap stocks through a variety of external large-cap managers who have distinct investment styles and strategies.
  • Select complementary managers from a broad universe of investment managers.
  • Blend managers into a single fund in an effort to provide an attractive combination of risk and return.
Investor Profile
If you're a long-term investor looking to diversify your investments by pursuing the growth potential of large-company stocks, then this Fund may be right for you.
Risk/Reward Potential
”Risk/Reward
Sub-Adviser Allocations

Sub-Advisers and Allocations subject to change at any time.

SUB-ADVISERTARGET ALLOCATIONROLE IN PORTFOLIO
Delaware Management Company INC 30% Deeper value approach. Will tend to protect capital in difficult markets.
Huber Capital Management, LLC 25% Traditional value manager which will provide a higher beta than its value counterpart (Delaware) within the Fund. Should do well in down markets but also provide good upside capture ratio.
Jennison Associates LLC 25% Higher beta, more aggressive growth approach. Should provide strong upside during periods of market strength.
WestEnd Advisors, LLC 20% Top-down driven approach which concentrates investments in those sectors deemed attractive on a forward-looking basis. Concentrated by sector and stock.
Important risk information can be found on the Portfolio tab.
CUSIP665162517
YTD Total Return8.02% (as of 09/18/14)
Inception Date10/17/07
Total Net Assets$629,296,840 (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.
Multi-Manager Large Cap3.93%4.87%8.02%23.23%18.11%15.57%N/A6.02%
Russell 1000 Index4.13%4.78%9.90%25.36%20.80%17.24%N/A6.50%
Morningstar Cat. Avg.
Large Growth
4.21%5.14%7.41%24.43%18.56%16.10%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.
Multi-Manager Large Cap2.10%4.16%5.17%23.21%13.80%17.24%N/A5.75%
Russell 1000 Index2.27%5.12%7.27%25.35%16.63%19.25%N/A6.29%
Morningstar Cat. Avg.
Large Growth
2.46%4.18%4.68%26.22%14.42%17.64%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 0.90%. 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
Multi-Manager Large Cap0.94%0.91%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2015.

Calendar Year Returns

 
       2013      2012      2011      2010      2009
Multi-Manager Large Cap32.04%13.23%0.06%15.74%28.75%
Russell 1000 Index33.11%16.42%1.50%16.10%28.43%
Morningstar Category Avg. Large Growth33.92%15.34%-2.46%15.53%35.68%
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
Apple Inc2.4%
Mondelez International Inc2.3%
Merck & Co Inc2.2%
CVS Caremark Corp1.9%
Pfizer Inc1.8%
Biogen Idec Inc1.7%
NIKE Inc1.5%
Gilead Sciences Inc1.5%
TJX Companies Inc1.5%
Walt Disney Co1.5%
% of Portfolio18.3%
As of 07/31/14
Sector WeightingsFundBenchmark
Information Technology21.4%18.9%
Health Care17.5%13.2%
Consumer Discretionary16.1%12.4%
Consumer Staples11.3%8.5%
Financials11.0%16.8%
Energy9.9%9.9%
Industrials6.1%11.1%
Materials2.5%3.8%
Telecommunication Services2.1%2.4%
Utilities2.1%3.0%
TOTAL100.0%100.0%
As of 07/31/14
Risk Characteristics*Multi-Manager Large CapRussell 1000 Index
Beta1.041.00
Up Market Capture91.19100.00
Down Market Capture101.86100.00
Information Ratio–1.090.00
*Above risk characteristics are based on a 3-year time period
   
DateHoldings File
As of 06/30/14Insert Icon
As of 03/31/14Insert Icon

Fund Characteristics

Number of Holdings153
Portfolio Turnover43.20% (as of 03/31/14)
Dividend ScheduleQuarterly
Dividend Income Last Quarter$0.0222
Capital Gain Income Last QuarterN/A
Weighted Average Market Cap ($Mil)$93,390
BenchmarkRussell 1000 Index
Morningstar CategoryLarge Growth
Trailing 12-Month Price to Earnings Ratio
Fund19.56
Benchmark18.28
Price to Book Ratio
Fund2.50
Benchmark2.64
Historical 5-Year Earnings Growth
Fund11.31
Benchmark12.41
Asset Allocation 
Stocks96.9%
Cash3.1%
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.
Russell 1000® Index is an unmanaged index which measures the performance of the 1,000 largest companies in the Russell 3000® Index, based on market capitalization. It is not possible to invest directly in an index.
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Jessica K. Hart

Jessica K. Hart

Portfolio Manager

Northern Multi-Manager Emerging Markets Debt Opportunity Fund (NMEEX)
Northern Multi-Manager Emerging Markets Equity Fund (NMMEX)
Northern Multi-Manager Global Listed Infrastructure Fund (NMFIX)
Northern Multi-Manager Global Real Estate Fund  (NMMGX)
Northern Multi-Manager High Yield Opportunity Fund (NMHYX)
Northern Multi-Manager International Equity Fund (NMIEX)
Northern Multi-Manager Large Cap Fund  (NMMLX)
Northern Multi-Manager Mid Cap Fund  (NMMCX)
Northern Multi-Manager Small Cap Fund (NMMSX)

With Northern Trust Since 2000
Began Career in 1999

Jessica K. Hart, Senior Vice President of Northern Trust leads the global fund construction, supports the manager research and program management groups to create multi-manager solutions for the manager of managers practice.

Ms. Hart joined Northern Trust in 2000 and has since been responsible for due diligence on prospective managers, performance and oversight of all multi-manager funds, portfolio construction and a key member of the management team that developed portfolio optimization processes for Northern Trust's clients.

Ms. Hart received a B.S. in economics from the University of Wisconsin and an MBA from New York University, Stern School of Business.

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Christopher E. Vella, CFA<sup>&reg;</sup>, CIO

Christopher E. Vella, CFA®, CIO

Portfolio Manager

Northern Multi-Manager Emerging Markets Debt Opportunity Fund (NMEEX)
Northern Multi-Manager Emerging Markets Equity Fund (NMMEX)
Northern Multi-Manager Global Listed Infrastructure Fund (NMFIX)
Northern Multi-Manager Global Real Estate Fund  (NMMGX)
Northern Multi-Manager High Yield Opportunity Fund (NMHYX)
Northern Multi-Manager International Equity Fund (NMIEX)
Northern Multi-Manager Large Cap Fund  (NMMLX)
Northern Multi-Manager Mid Cap Fund  (NMMCX)
Northern Multi-Manager Small Cap Fund (NMMSX)

With Northern Trust Since 2004
Began Career in 1993

Christopher E. Vella, CFA®, is Chief Investment Officer with responsibility for manager research and portfolio construction processes across Northern Trust's market segments. He is responsible for the global manager research platform, consisting of approximately $60B in assets across 200 investment strategies. He manages a team of approximately 25 investment professionals across all traditional asset classes. The team covers all external manager relationships on behalf of Northern Trust's private and institutional clientele.

Prior to joining Northern Trust, Mr. Vella was a founding member of Goldman Sach's external manager business which consists of institutional and private client assets. While at Goldman, he managed the international and emerging markets equity team. Prior to Goldman Sachs, Mr. Vella spent close to 6 years at SEI Investments working primarily on international equity and emerging markets equity manager research. He has over 17 years of manager research experience.

Mr. Vella graduated Phi Beta Kappa from Lehigh University with a B.S. in finance and a minor in applied mathematics. He is an active CFA® charterholder.

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Not FDIC insured | May lose value | No bank guarantee

View investment term definitions

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.