Multi-Asset

Global Tactical Asset Allocation

Ticker:

NAV AS OF 05/26/23

BBALX

$11.72
$0.00

FUND LITERATURE

Fact Sheet

Holdings

Commentary

Why Northern Global Tactical Asset Allocation Fund

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Summary

For those long-term investors looking to diversify your investment among various asset classes (stocks, bonds, commodities, and other) both domestic and foreign. The Fund seeks to provide long-term capital appreciation and current income. The Fund invests primarily in shares of a combination of underlying mutual funds and exchange-traded funds ("ETFs"), with its asset allocation model adjusted based on changing market conditions. The Fund will invest significantly in companies that are represented in diversified foreign indices. Dividends, if any, are declared and paid quarterly. Capital gains, if any, are distributed at least annually.

Fund Objective

The Fund seeks to provide long-term capital appreciation and current income.

Fund Strategy

Diversify among various asset classes (stocks, bonds, commodities, and other) both domestic and foreign. The allocation will be based on an asset allocation framework developed by the Investment Policy Committee of The Northern Trust Company (TNTC) and Northern Trust Investments, Inc. (NTI).
Invest significantly in funds that invest in companies that are located outside of the U.S. as represented in either the MSCI EAFE® Index, MSCI Emerging Markets Index or other diversified foreign indices.
Monitor the current asset allocation framework regularly to ensure the allocation is aligned with evolving investment views amid changing market and economic conditions.

Investor Profile

For those long-term investors looking to diversify your investment among various asset classes (stocks, bonds, commodities, and other) both domestic and foreign, then this Fund may be right for you.

Risk/Reward Potential

Asset Class Weightings

As of 04/30/23

Asset Class	Investment Vehicle	Holdings Weight
U.S. Equity	FlexShares Morningstar US Market Factor TILT Index Fund	10.2
U.S. Equity	FlexShares US Quality Dividend Index Fund	9.4
U.S. Equity	FlexShares US Quality Low Volatility Index Fund	5.6
Non U.S. Equity - Developed	FlexShares Morningstar Developed Markets ex-US Factor TILT Index Fund	5.3
Non U.S. Equity - Developed	Flexshares International Quality Dividend Index Fund	5.3
Non U.S. Equity - Developed	FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	2.4
Non U.S. Equity - Emerging Markets	FlexShares Morningstar Emerging Markets Factor TILT Index Fund	2.9
Global Real Estate	FlexShares Global Quality Real Estate Index Fund	2.0
U.S. Bonds - High Yield	FlexShares High Yield Value Scored Bond Index Fund	11.0
U.S. Bonds - Investment Grade	FlexShares Credit-Scored US Corporate Bond Index Fund	2.1
U.S. Bonds - Investment Grade	FlexShares Disciplined Duration Fund	1.5
U.S. Bonds - Investment Grade	FlexShares Credit-Scored US Long Corporate Bond Index Fund	0.1
U.S. Bonds - Investment Grade	FlexShares iBoxx 5-Year Target Duration TIPS Index Fund	5.0
U.S. Bonds - Investment Grade	FlexShares Ultra-Short Income Fund	4.0
U.S. Bonds - Investment Grade	iShares 1-3 Year Treasury Bond	2.4
U.S. Bonds - Investment Grade	iShares 3-7 Year Treasury Bond	4.8
U.S. Bonds - Investment Grade	iShares 7-10 Year Treasury Bond Fund	1.9
U.S. Bonds - Investment Grade	iShares 20+ Year Treasury Bond Fund	1.8
U.S. Bonds - Investment Grade	iShares MBS ETF	7.3
U.S. Bonds - Investment Grade	iShares 1-5 Year Investments Grade Corporate Bond ETF	2.3
U.S. Bonds - Investment Grade	iShares 10 + Year Investments Grade	2.7
U.S. Bonds - Investment Grade	MFC iShares Intermediate Credit Bond ETF	1.0
Commodities/ Natural Resources	FlexShares Morningstar Global Upstream Natural Resources Index Fund	6.8
Global Infrastructure	FlexShares STOXX Global Broad Infrastructure Index Fund	2.0
Cash	NIF U.S. Government Portfolio	0.2
Total		100.0%

Important risk information can be found on the Portfolio tab.

Not FDIC insured | May lose value | No bank guarantee

View investment terms definitions

Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds carefully before investing. Call 800-595-9111 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.