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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||1.61%||1.56%|
|7-Day Current Yield (As of 04/30/18)||1.55%||1.50%|
|7-Day Effective Yield||1.62%||1.57%|
|Total Net Assets|
(As of 05/25/18)
|Total Net Assets – Combined Share Classes|
(As of 04/30/18)
|Fund Cut Off Times||Purchases: 1:00 p.m. CT
Redemptions: 1:00 p.m. CT
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|imoneyNet Treasury |
& Repo Instl
|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, 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 0.15% 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, 2019 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 1.55% for Shares and 1.50% for Premier Shares as of April 30, 2018. 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.
|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, 2019. Unaudited as of April 30, 2018.|
Ratings are subject to change. The Standard & Poor's Principal Stability Fund (PSF) Rating, also known as the money market fund rating, is a forward-looking opinion about a fixed income fund's capacity to maintain stable principal (net asset value). When assigning a PSF rating to a fund, Standard & Poor's analysis focuses primarily on the creditworthiness of the fund's investments and counterparties, and also its investments' maturity structure and management's ability and policies to maintain the fund's stable net asset value. PSF ratings are assigned to funds that seek to maintain a stable or an accumulating net asset value. A fund rated AAAm demonstrates extremely strong capacity to maintain principal stability and to limit exposure to principal losses due to credit risk. This fund is on the National Association of Insurance Commissioners (NAIC) 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.
|Weighted Average Maturity||Weighted Average Life|
|42 DAYS||110 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||71|
|Premier Shares Income*||$0.001221|
|*||Reinvestment date of April 30. The amount shown represents dividends paid from fund net investment income and excludes distributions from capital gain income.|
|Discount Note/Treasury Bill||11.6%|
|Fixed Rate Note/Bond||24.7%|
|Variable Rate Note/Bond||18.5%|
|2 - 15 Days||16.8%|
|16 - 30 Days||5.0%|
|31 - 60 Days||2.6%|
|61 - 97 Days||2.0%|
|98 - 180 Days||8.0%|
|181 - 270 Days||10.3%|
|271 - 366 Days||1.5%|
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.
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.
©2018 Northern Institutional Funds | Northern Institutional Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.