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|The Northern Small Cap Value Fund is a good choice for those aggressive investors looking for the value potential offered by the stocks of small companies - those that the adviser believes are worth more than is indicated by current market prices. It is intended for equity investors with an above-average tolerance for volatility who want to diversify their investments and plan to invest for the long term without concern for current income.
If you're a more aggressive investor looking for the value potential offered by the stocks of smaller companies — those the adviser believes are worth more than is indicated by current market prices — this Fund may be right for you. It is intended for equity investors with an above-average tolerance for volatility who want to diversify their investments and plan to invest for the long term without concern for current income.
|Overall Morningstar RatingTM|
Among 353 small value funds derived from a weighted average of the fund's 3-, 5- and 10-year risk-adjusted returns as of 5/31/18.
Small Cap Value received 3 stars for the 3-year rating among 353 small value funds, 4 stars for the 5-year rating among 315 funds and 4 stars for the 10-year rating among 219 funds.
The Morningstar RatingTM for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.
©2018 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.
|YTD Total Return||5.60% (as of 06/22/18)|
|Total Net Assets||$3,684,809,961 (as of 05/31/18)|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|Small Cap Value||5.66%||6.98%||2.86%||12.60%||9.68%||11.05%||9.19%||10.25%|
|Russell 2000 Value Index||5.82%||8.98%||4.81%||16.35%||11.04%||10.96%||8.71%||10.42%|
|Morningstar Cat. Avg.|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|Small Cap Value||0.93%||-2.95%||-2.95%||3.76%||7.18%||10.38%||9.33%||10.06%|
|Russell 2000 Value Index||1.24%||-2.64%||-2.64%||5.13%||7.87%||9.96%||8.61%||10.16%|
|Morningstar Cat. Avg.|
|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 Fund (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; and extraordinary expense and interest) to the extent the "Total Annual Fund Operating Expenses" exceed 1.00%. The "Total Annual Fund Operating Expenses After Expense Reimbursement" may be higher than the contractual limitation as a result of the excepted expenses, including but not limited to acquired fund fees and expenses, that are not reimbursed. This contractual limitation may not be terminated before July 31, 2018 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.
|Gross Expense Ratio||Net Expense Ratio‡|
|Small Cap Value||1.14%||1.01%|
|‡Includes contractual expense reimbursements that, if not extended, will end on July 31, 2018. The Fund also includes voluntary expense reimbursements that may change or end at any time.|
|Small Cap Value||6.43%||27.87%||-4.62%||7.07%||36.44%|
|Russell 2000 Value Index||7.84%||31.74%||-7.47%||4.22%||34.52%|
|Morningstar Category Avg. Small Value||8.54%||25.99%||-6.71%||3.34%||36.22%|
|Performance quoted represents past performance and does not guarantee future results.|
|Top 10 Holdings||Fund|
|LaSalle Hotel Properties||0.9%|
|CACI International Inc||0.9%|
|Mobile Mini Inc||0.8%|
|Washington Federal Inc||0.7%|
|Cathay General Bancorp||0.7%|
|Southwest Gas Holdings Inc||0.7%|
|Insight Enterprises Inc||0.7%|
|United Bankshares Inc||0.7%|
|Community Bank System Inc||0.7%|
|Wintrust Financial Corp||0.7%|
|Risk Characteristics*||Small Cap Value||Russell 2000 Value Index|
|Up Market Capture||89.43||100.00|
|Down Market Capture||94.33||100.00|
|*||Above risk characteristics are based on a 3-year time period|
|Number of Holdings||563|
|Portfolio Turnover||18.65% (as of 03/31/18)|
|Dividend Income Last Quarter||N/A|
|Capital Gain Income Last Quarter||N/A|
|Weighted Average Market Cap ($Mil)||$2,477|
|Benchmark||Russell 2000 Value Index|
|Morningstar Category||Small Value|
|Trailing 12-Month Price-to-Earnings Ratio|
|Historical 5-Year Earnings Growth|
With Northern Trust Since 1997
Began Career in 1995
Robert H. Bergson, Senior Vice President of Northern Trust, is a senior portfolio manager and researcher for Northern Trust's Quantitative Active Equity Team. He is responsible for research and implementation of several small cap equity strategies representing more than $3.5 billion in small cap assets. He manages the Northern Small Cap Core Fund and Northern Small Cap Value Fund.
Prior to joining Northern Trust in 1997, Mr. Bergson served as Director of Investment Research for Real Estate Research Corporation, a real estate consulting and research firm.
Mr. Bergson received a B. Arch. from Carnegie Mellon University and an M.S. in real estate development from the Massachusetts Institute of Technology. He is an active CFA® charterholder, and a member of the CFA Institute, the CFA Society Chicago and the Chicago Quantitative Alliance.
Not FDIC insured | May lose value | No bank guarantee
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.
©2018 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.