Intermediate Tax-Exempt

Summary

You may find this Fund ideal if you are an investor who favors current income exempt from regular federal income tax. It is particularly well suited for income-oriented investors in higher tax brackets willing to assume some risk. Income from the Fund may be subject to federal alternative minimum tax (AMT), state and local taxes. We concentrate on producing conservative tax-free income while managing portfolio risk. We believe investing in a broad range of municipal securities with intermediate-term maturities can provide greater stability of principal than is generally available from longer-term, higher-yielding bonds. The Fund is "non-diversified" under the Investment Company Act of 1940, and may invest more of its assets in fewer issuers than "diversified" mutual funds.

Fund Objective

The Fund seeks to provide a high level of current income exempt from regular federal income tax by investing in municipal instruments.

Fund Strategy

• Maintain a dollar-weighted average maturity range, under normal circumstances, between three and 10 years.
• Invest in high-quality securities, primarily investment-grade debt.
• Select investments on the basis of their relative value with a focus on total return.

Investor Profile

If you are an investor who favors current income exempt from regular federal income tax, this Fund may be ideal for you. It is particularly well suited for income-oriented investors in higher tax brackets willing to assume some risk. Income from the Fund may be subject to federal alternative minimum tax (AMT), state and local taxes.

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.

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