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|The International Equity Index Fund is a good choice for those moderate risk investors seeking competitive long-term investment returns through a broadly diversified portfolio. The Fund offers a high degree of relative predictability in an uncertain stock market by seeking investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the MSCI EAFE Index.
|Seeks to Replicate Index
|If you're a moderate risk investor seeking competitive long-term investment returns through a broadly diversified portfolio, this Fund may be appropriate for you. It offers a high degree of relative predictability in an uncertain stock market by seeking investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the MSCI EAFE Index.|
|2% on shares sold or exchanged within 30 days of purchase|
*The Morningstar Sustainability Rating is a measure of how well the companies held by a fund are managing their Environmental, Social and Governance ("ESG") risks and opportunities when compared with similar funds. A fund's Sustainability Rating is assigned in two steps: First, a Morningstar Portfolio Sustainability Score is derived from an asset-weighted average of the underlying company ESG scores with deductions made for holdings involved in controversial incidents. Next, funds are sorted into five normally distributed groups by comparing a fund’s Portfolio Sustainability Score with that of its Morningstar Category peers. The peer groups are assigned as follows: 5 Globe Icons (“High”) = top 10% of funds in an asset category; 4 Globe Icons ("Above Average") = next 22.5% of funds; 3 Globe Icons ("Average") = next 35%; 2 Globe Icons ("Below Average") = next 22.5% and 1 Globe Icon ("Low") = next 10%.
For a portfolio to receive a Morningstar Sustainability Score, at least 50% of its assets must be in one of the more than 4,500 companies covered by Sustainalytics (a research firm which collects ESG data) globally. To receive a Morningstar Sustainability Rating, at least 10 funds in a Morningstar Category must also receive a Portfolio Sustainability Score. The Sustainability Rating is portfolio-based, not performance-based. It should be used alongside traditional risk, return, and style metrics as well as qualitative assessments of a fund's investment process and how well it has been executed over time. Sustainability scores are calculated on a monthly basis and range from 0 to 100, 100 being the best. For more information, visit global.morningstar.com/SustainableInvesting.
As of 12/31/2018, the International Equity Index Fund received the following: ESG Score 59.00 – Controversy Score 6.58, which equals a Sustainability score 52.42 (12% category rank; 4,572 funds) and a Sustainability Rating of 4 Globe Icons (or "Above Average").
|YTD Total Return||5.48% (as of 01/18/19)|
|Total Net Assets||$4,758,539,666 (as of 12/31/18)|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|International Equity Index||-5.15%||-12.60%||-13.75%||-13.75%||2.99%||0.39%||5.97%||3.43%|
|MSCI EAFE Index||-4.85%||-12.54%||-13.79%||-13.79%||2.87%||0.53%||6.32%||3.64%|
|Morningstar Cat. Avg.|
Foreign Large Blend
|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 0.25%. The “Total Annual Fund Operating Expenses After Expense Reimbursement" may be higher than the contractual limitation as a result of the excepted expenses that are not reimbursed. This contractual limitation may not be terminated before July 31, 2019 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‡|
|International Equity Index||0.30%||0.25%|
|‡Includes contractual expense reimbursements that, if not extended, will end on July 31, 2019. The Fund also includes voluntary expense reimbursements that may change or end at any time.|
|International Equity Index||-13.75%||25.26%||1.11%||-0.93%||-5.79%|
|MSCI EAFE Index||-13.79%||25.03%||1.00%||-0.81%||-4.90%|
|Morningstar Category Avg. Foreign Large Blend||-14.59%||25.12%||0.79%||-1.59%||-4.98%|
|Performance quoted represents past performance and does not guarantee future results.|
|Top 10 Holdings||Fund|
|Roche Holding Ltd||1.4%|
|HSBC Holdings PLC||1.3%|
|Royal Dutch Shell PLC||1.1%|
|Toyota Motor Corp||1.0%|
|Royal Dutch Shell PLC Class B||0.9%|
|Top 10 Country Weightings||Fund||Benchmark|
|Risk Characteristics*||International Equity Index||MSCI EAFE Index|
|Up Market Capture||94.40||100.00|
|Down Market Capture||95.40||100.00|
|*||Above risk characteristics are based on a 3-year time period|
|Number of Holdings||930|
|Portfolio Turnover||31.54% (as of 03/31/18)|
|Dividend Income Last Quarter||N/A|
|Capital Gain Income Last Quarter||N/A|
|Weighted Average Market Cap ($Mil)||$55,579|
|Benchmark||MSCI EAFE Index|
|Morningstar Category||Foreign Large Blend|
|Trailing 12-Month Price-to-Earnings Ratio|
|Historical 5-Year Earnings Growth|
With Northern Trust Since 2003
Began Career in 1993
Steven J. Santiccioli, Vice President of Northern Trust, manages the Northern Emerging Markets Equity Index Fund and Northern International Equity Index Fund.
Prior to joining Northern Trust in 2003, Mr. Santiccioli was a portfolio manager with Deutsche Bank. Prior to his portfolio manager position at Deutsche, he served as the head of the accounting group for international index portfolios.
Mr. Santiccioli received a B.A. from Bucknell University and an MBA from Fordham University.
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.
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