Multi-Manager Global Real Estate
NAV AS OF 05/06/21
The Multi-Manager Global Real Estate Fund may be a good choice for those long-term investors looking to diversify their portfolio by pursuing the growth potential of global real estate. Our approach blends specialist managers from a broad universe of external global real estate managers into a single fund. Each Sub-Adviser acts independently from the others and utilizes its own distinct investment style in selecting securities while seeking long-term capital appreciation and current income.
Capital Appreciation and Current Income
- Invest at least 80% of net assets in global real estate equities, primarily in real estate investment trusts (REITs).
- Select complementary managers from a broad universe of investment managers.
- Blend managers into a single fund in an effort to provide an attractive combination of risk/return.
If you're a long-term investor looking to diversify your investments by pursuing
the growth potential of global real estate, then this Fund may be right for you. It
is intended for investors who are aware that foreign markets may involve additional
risks, such as social and political instability, reduced market liquidity and currency
Investing in real estate equities involves special risks linked to the real estate market, including declines in the value of real estate, changes in the value of the underlying property, and defaults by borrowers. Foreign investing entails the risk that returns may be reduced by currency fluctuations.
2% on shares sold or exchanged within 30 days of purchase
Overall Morningstar Rating TM
Among 192 global real estate funds derived from a weighted average of the fund's 3-, 5- and 10-year risk-adjusted returns as of 03/31/21.
Multi-Manager Global Real Estate received 4 stars for the 3-year rating among 192 global real estate funds, 4 stars for the 5-year rating among 170 funds and 3 stars for the 10-year rating among 101 funds.
The Morningstar RatingTM for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.
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Sub-Advisers and Allocations subject to change at any time.
|SUB-ADVISER||TARGET ALLOCATION*||ROLE IN PORTFOLIO|
|Massachusetts Financial Services Company||60%||High conviction, value-oriented portfolio with a quality bias. Bottom-up, fundamental driven portfolio focused on cash flow and NAV per share growth. Seeks companies where these characteristics are underappreciated, or developing, with the expectation they should outperform over the long run.|
|Janus Capital Management LLC**||40%||High active share manager focused on taking meaningful active positions in their highest conviction ideas. Expected high up-market capture ratio. Seeks relative value in companies with quality properties, management acumen and financial strength.|
**On September 4, 2020, Janus Capital Management, LLC replaced Brookfield Investment Management, Inc. as a sub-adviser to the Northern Multi-Manager Global Real Estate Fund.
Important risk information can be found on the Portfolio tab.
Not FDIC insured | May lose value | No bank guarantee
Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds before investing. Call 800-595-9111 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.
©2021 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.