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Fixed Income

Multi-Manager Emerging Markets Debt Opportunity


NAV AS OF 10/02/23




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The Multi-Manager Emerging Markets Debt Opportunity Fund may be a good choice for those long-term investors seeking exposure to emerging or frontier markets debt issuers. The Fund may invest in sovereign issuers and companies of any size located in a number of countries throughout the world and in securities denominated in foreign currencies and in U.S. dollars. Our approach blends specialist managers selected from a broad universe of external global 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 total return through both current income and capital appreciation.

Fund Objective

The Fund seeks total return consisting of a combination of income and capital appreciation.

Fund Strategy

  • Invest at least 80% of net assets in fixed income securities that provide exposure to issuers tied to emerging or frontier markets. The Fund’s investments provide opportunistic exposure to a blend of local currency, hard currency and corporate emerging markets debt.
  • Select complementary investment strategies from a broad universe of investment managers.
  • Blend managers into a single fund in an effort to provide an attractive combination of risk/return.

Investor Profile

If you're a long-term investor looking to diversify your investments by pursuing the income potential of emerging or frontier markets debt issuers, 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 volatility.

Redemption Fee

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

Risk/Reward Potential

risk reward

Sub-Adviser Allocations

Sub-Advisers and Allocations subject to change at any time.

Ashmore Investment Management Limited30%An emerging debt specialist with a value driven approach, utilizing a top-down active management process. Focus on forward looking global analysis complemented by bottom-up credit research.
Global Evolution USA, LLC35%Bottom-up focused strategy with a concentrated and benchmark agnostic approach. ESG is an integral part of the investment process and the portfolio is expected to have a higher allocation to frontier debt markets versus peers.
MetLife Investment Management**35%Bottom-up fundamental analysis with a focus on corporate debt. Diversified portfolio that utilizes relative value across regions and securities. Benchmark agnostic with tactical allocations outside of corporate debt, which may include sovereign and local debt.
*Actual allocations may vary.
**MetLife Investment Management began managing a portion of the Northern Multi-Manager Emerging Markets Debt Opportunity Fund effective on or about June 8, 2022.

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.

©2023 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.