You could lose money by investing in the Portfolio/Fund. All purchase and sale activity is being transacted at the Amortized Cost NAV of $1.00. Although the Portfolio/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/Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Portfolio’s/Fund’s sponsor has no legal obligation to provide financial support to the Portfolio/Fund, and you should not expect that the sponsor will provide financial support to the Portfolio/ Fund 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.

Shares of the Northern Institutional Funds are offered only by a current Prospectus and are intended solely for persons to whom shares of US registered funds may be sold. This site shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of shares of the Northern Institutional Funds in any jurisdiction in which such offer, solicitation or sale would be unlawful.