Skip to content
Money Market

Municipal

Ticker:

NAV AS OF 01/19/21

NMUXX

$1.00

$0.00

snapshotperformanceportfoliomanagementfund documents
Hide

Summary

PENDING LIQUIDATION OF THE NORTHERN INSTITITIONAL MUNICIPAL PORTFOLIO

The Board of Trustees of Northern Institutional Funds (the “Trust”) has determined, after consideration of a number of factors, that it is in the best interests of the Municipal Portfolio (the “Portfolio”) and its shareholders that the Portfolio be liquidated and terminated on or about February 12, 2021 (the “Liquidation Date”) pursuant to a plan of liquidation approved by the Board. The Liquidation Date may be changed at the discretion of the Trust’s officers. Please contact the Northern Institutional Funds Center at 800-637-1380 if you have any questions.

SUMMARY

The Municipal Portfolio seeks to provide, to the extent consistent with the preservation of capital, a high level of income exempt from regular federal income tax by investing primarily in municipal instruments. Income from the Portfolio may be subject to the federal AMT, state, and local taxes. Dividends, if any, are declared daily and paid monthly.

Fund Objective

The Portfolio seeks to provide, to the extent consistent with the preservation of capital, a high level of income exempt from regular federal income tax by investing primarily in municipal instruments. This objective may be changed without shareholder approval.

This portfolio is designated as a "institutional money market portfolio". As a result of its designation, the portfolio will be subject to liquidity fees, redemption gates and have a variable net asset value.

Not FDIC insured | May lose value | No bank guarantee

You could lose money by investing in the Portfolio. Because the share price of the Portfolio will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Portfolio may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Portfolio's liquidity falls below required minimums because of market conditions or other factors. 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.

©2021 Northern Institutional Funds | Northern Institutional Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.