High Yield Fixed Income

Summary

If you are an aggressive investor seeking high current income and the potential for capital appreciation for a portion of your assets, you may find this Fund provides an attractive complement to a well-diversified portfolio. This Fund may be a good choice for long-term investors willing to assume the additional risks associated with investing in high yield securities including above-average share price fluctuations. Our knowledgeable investment team focuses primarily on high-yielding, lower-rated corporate bonds (those rated BB or below; these are commonly referred to as "non-investment grade" or "junk bonds"). We believe these securities offer the opportunity for higher income and greater total return potential than is generally available from high-quality, investment-grade securities.

Fund Objective

The Fund seeks a high level of current income. In doing so, the Fund also may consider the potential for capital appreciation.

Fund Strategy

• Invest primarily in high-yielding, lower-rated corporate debt. Lower-rated debt is commonly referred to as "junk bonds."
• Take steps to properly manage downside risk by maintaining a broadly diversified portfolio.
• Rely on our extensive credit research capabilities in an effort to manage risk and minimize defaults.

Investor Profile

If you are an aggressive investor seeking high current income and the potential for capital appreciation for a portion of your assets, you may find this Fund provides an attractive complement to a well-diversified portfolio. It is best suited for long-term investors willing to assume the additional risks associated with investing in high yield securities including above-average share price fluctuations.

Redemption Fee

2% on shares sold or exchanged within 30 days of purchase.

Risk/Reward Potential

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.

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