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    Northern Institutional Treasury Portfolio

     
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    TickerTicker
    NITXXNTPXX

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    Snapshot
    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.

    Fund Objective
    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.
    Updated Daily Unless Otherwise Noted
               Shares        Premier
            Shares
    CUSIP665279808665279873
    Inception Date11/05/0808/01/16
    Amortized Cost NAV$1.00$1.00
    7-Day Current Yield0.91%0.86%
    7-Day Current Yield (As of 08/31/17)0.90%0.85%
    7-Day Effective Yield0.91%0.86%
    Total Net Assets
    (As of 09/25/17)
    $10,930,580,945$31,536,200,069
    Total Net Assets – Combined Share Classes
    (As of 08/31/17)
    $41,346,082,806
    Daily Yield0.91%0.86%
    Daily Factor0.0000248330.000023487
       
    Fund Cut Off TimesPurchases: 1:00 p.m. CT
    Redemptions: 1:00 p.m. CT
    Credit RatingAAAm Standard & Poor's
    NAIC Listed

    Total Returns

    Total Returns for Month Ending 08/31/17
     Annualized
        Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
    Incept.
    Shares0.08%0.22%0.44%0.53%0.24%0.15%N/A0.11%
    Premier Shares0.07%0.20%0.41%0.48%N/AN/AN/A0.47%
    imoneyNet Treasury
    & Repo Instl
    0.06%0.16%0.31%0.35%0.14%0.09%N/AN/A

    Total Returns

    Total Returns for Quarter Ending 06/30/17
     Annualized
        Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
    Incept.
    Shares0.06%0.17%0.29%0.43%0.19%0.12%N/A0.09%
    Premier Shares0.06%0.16%0.26%N/AN/AN/AN/A*0.36%
    imoneyNet Treasury
    & Repo Instl
    0.05%0.12%0.19%0.25%0.10%0.07%N/AN/A
    *Total Return performance represents cumulative total return for the period 08/01/16 through 06/30/17.
    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, service fees, 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% for Shares and 0.20% for Premier Shares. For Premier Shares, the "Total Annual Portfolio Operating Expenses After Expense Reimbursement" may be higher than the contractual limitation as a result of certain Portfolio expenses, including but not limited to service fees, that are not reimbursed. This contractual limitation may not be terminated before April 1, 2018 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 0.90% for Shares and 0.85% for Premier Shares as of August 31, 2017. 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. 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.

    Annual Expense Ratios

     
     Gross Expense RatioNet Expense Ratio
    SharesPremier SharesSharesPremier Shares
    Treasury0.16% 0.21%0.15%0.20%
    Includes contractual expense reimbursements that, if not extended, will end on April 1, 2018. Unaudited as of August 31, 2017.
    Credit ratings are subject to change at any time. AAAm rating by Standard & Poor's is obtained after Standard & Poor's evaluates a number of factors, including credit quality, market price, exposure and management. This fund is on the National Association of Insurance Commissioners list. Inclusion on the NAIC list is the result of an accounting measure involving the fund’s underlying investments, and does not constitute an assessment of quality. The NAIC listing does not represent an endorsement or recommendation of the overall fund.

    For more information about the ratings provided by Standard and Poor's, please visit their website at www.standardandpoors.com.

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    Start Date: End Date: 
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    Portfolio Composition
    As of 08/31/17
    Weighted Average MaturityWeighted Average Life
    43 DAYS111 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.
      
    DateHoldings File
    As of 08/31/17Insert Icon
    As of 07/31/17Insert Icon
    As of 06/30/17Insert Icon
    As of 05/31/17Insert Icon
    As of 04/30/17Insert Icon
    As of 03/31/17Insert Icon

    Fund Characteristics

    Number of Holdings81
    Dividend ScheduleMonthly
    Shares Income*$0.000762
    Premier Shares Income*$0.000719
    *Reinvestment date of August 31. The amount shown represents dividends paid from fund net investment income and excludes distributions from capital gain income.
       
    Security Distribution      
    Repurchase Agreements52.3%
    Discount Note/Treasury Bill12.5%
    Fixed Rate Note/Bond18.5%
    Variable Rate Note/Bond16.7%
    TOTAL100.0%
    As of 08/31/17
    Maturity Distribution 
    Overnight55.6%
    2 - 15 Days11.7%
    16 - 30 Days3.9%
    61 - 97 Days10.1%
    98 - 180 Days13.3%
    181 - 270 Days3.3%
    271 - 366 Days2.1%
    TOTAL100.0%
    Quality Distribution 
    Tier 1100.0%
    TOTAL100.0%
    Sector Distribution 
    Broker/Dealer52.3%
    Treasuries47.7%
    TOTAL100.0%
    All data is as of date indicated and subject to change.
    U.S. Government Guarantee: U.S. government guarantees apply only to the underlying securities of a Fund’s portfolio and not the Fund’s shares.
    iMoneyNet Fund AverageTM - Treasury & Repo Institutional category includes only institutional government funds that hold U.S. Treasuries and repurchase agreements backed by the U.S. Treasury. The category average is the average of all funds in this category reported by iMoneyNet. It is not possible to invest directly in an index.
    Quality Distribution: A security is classified as Tier 1 when two or more of the three nationally recognized statistical rating agencies have assigned a rating in their top short-term ratings category (A1+ and A1 for Standard & Poor's, P1 for Moody's and F1+ and F1 for Fitch). A security is classified as Tier 2 when two or more of the ratings assigned to that security are below the top short-term ratings from the agencies (this would include ratings of A2 for Standard & Poor's, P2 for Moody's and F2 for Fitch). If a security has only two short-term ratings available, the lower rating is used to define the Tier; i.e. a split rating of A1/P2 is considered Tier 2. If only one short-term rating is available for a security, the Tier is determined by that one agency. A security is classified as Tier 3 if it does not meet the definition of Tier 1 or Tier 2, has two or more ratings below A2, P2, or F2 or if the security does not have a short-term rating.
    Distribution Calculations: (Security Distribution, Quality Distribution, Maturity Distribution and Sector Distribution) are measured on a trade date basis and exclude uninvested cash from the market value used to compute the percentage calculations.
    Maturity Distribution: The data is measured using the lower of the stated maturity date or next interest rate reset date.
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    Daniel LaRocco

    Daniel LaRocco

    Portfolio Manager

    Northern Funds Managed
    Northern U.S. Government Money Market Fund (NOGXX)
    Northern U.S. Government Select Money Market Fund (NOSXX)

    Institutional Portfolios Managed
    Northern Institutional Treasury Portfolio (NITXX)
    Northern Institutional U.S. Government Portfolio (BNGXX)
    Northern Institutional U.S. Government Select Portfolio (BGSXX)

    With Northern Trust Since 2008
    Began Career in 2007

    Daniel LaRocco, Vice President of Northern Trust, is a member of the short duration fixed income group, which is focused on the management of the group's U.S. Government funds. Mr. LaRocco currently co-manages the Northern U.S. Government Money Market Fund, Northern Government Select Money Market Fund, Northern Institutional U.S. Government Portfolio, Northern Institutional U.S. Government Select Portfolio and manages the Northern Institutional Treasury Portfolio.

    Prior to joining Northern Trust in 2008, Mr. LaRocco served as a Financial Advisor at Ameriprise Financial in Chicago.

    Mr. LaRocco received a B.A. in political science, English and economics from Miami University.

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    Treasury Premier Shares

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    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 summary prospectus or prospectus and consider the investment objectives, risks, charges and expenses of Northern Institutional Funds before investing. Call 800-637-1380 to obtain a summary prospectus or prospectus, which contains this and other information about the Funds.

    ©2017 Northern Institutional Funds | Northern Institutional Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.