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|For those investors who are seeking a low cost, disciplined approach to investing in equities, this may be the fund for you. The Large Cap Core Fund attempts to create a portfolio with similar risk, style, and industry characteristics as the Russell 1000 Index. In managing the Fund, your investment management team attempts to achieve the Fund's objective by overweighting those stocks that it believes will outperform the S&P 500 Index and underweighting those stocks that it believes will under-perform the S&P 500 Index.|
|If you're seeking a low cost, disciplined approach to investing in equities, this fund may be appropriate for you. It seeks long term growth of capital and dividend income and invests primarily in a broadly diversified portfolio of established, large-cap companies. The Fund is intended for use as a core equity investment.|
|Overall Morningstar RatingTM|
Among 1,104 large value funds derived from a weighted average of the fund's 3-,5- and 10-year risk-adjusted returns as of 1/31/19.
Large Cap Core received 4 stars for the 3-year rating among 1,104 large value funds, 4 stars for the 5-year rating among 944 funds and 4 stars for the 10-year rating among 687 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.
©2019 Morningstar, Inc. All Rights Reserved. Morningstar and/or its content providers are the proprietors of this information; do not permit its unauthorized copying or distribution; do not warrant it to be accurate, complete or timely; and are not responsible for damages or losses arising from its use.
*The Morningstar Sustainability Rating is a measure of how well the companies held by a fund are managing their Environmental, Social and Governance ("ESG") risks and opportunities when compared with similar funds. A fund's Sustainability Rating is assigned in two steps: First, a Morningstar Portfolio Sustainability Score is derived from an asset-weighted average of the underlying company ESG scores with deductions made for holdings involved in controversial incidents. Next, funds are sorted into five normally distributed groups by comparing a fund’s Portfolio Sustainability Score with that of its Morningstar Category peers. The peer groups are assigned as follows: 5 Globe Icons (“High”) = top 10% of funds in an asset category; 4 Globe Icons ("Above Average") = next 22.5% of funds; 3 Globe Icons ("Average") = next 35%; 2 Globe Icons ("Below Average") = next 22.5% and 1 Globe Icon ("Low") = next 10%.
For a portfolio to receive a Morningstar Sustainability Score, at least 50% of its assets must be in one of the more than 4,500 companies covered by Sustainalytics (a research firm which collects ESG data) globally. To receive a Morningstar Sustainability Rating, at least 10 funds in a Morningstar Category must also receive a Portfolio Sustainability Score. The Sustainability Rating is portfolio-based, not performance-based. It should be used alongside traditional risk, return, and style metrics as well as qualitative assessments of a fund's investment process and how well it has been executed over time. Sustainability scores are calculated on a monthly basis and range from 0 to 100, 100 being the best. For more information, visit global.morningstar.com/SustainableInvesting.
As of 12/31/2018, the Large Cap Core Fund received the following: ESG Score 54.66 – Controversy Score 7.54, which equals a Sustainability score 47.12 (13% category rank; 643 funds) and a Sustainability Rating of 4 Globe Icons (or "Above Average").
|YTD Total Return||10.20% (as of 02/15/19)|
|Total Net Assets||$244,097,945 (as of 01/31/19)|
|Large Cap Core||7.74%||-0.22%||7.74%||-4.14%||12.74%||9.52%||14.45%||7.40%|
|S&P 500 Index||8.01%||0.26%||8.01%||-2.31%||14.02%||10.96%||15.00%||8.19%|
|Morningstar Cat. Avg.|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|Large Cap Core||-9.05%||-13.28%||-5.89%||-5.89%||7.99%||7.15%||12.64%||6.84%|
|S&P 500 Index||-9.03%||-13.52%||-4.38%||-4.38%||9.26%||8.49%||13.12%||7.61%|
|Morningstar Cat. Avg.|
|Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here.
Northern Trust Investments, Inc. has contractually agreed to reimburse a portion of the operating expenses of the Fund (other than certain excepted expenses, i.e., acquired fund fees and expenses; the compensation paid to each Independent Trustee of the Trust; expenses of third party consultants engaged by the Board of Trustees; membership dues paid to the Investment Company Institute and Mutual Fund Directors Forum; expenses in connection with the negotiation and renewal of the revolving credit facility; and extraordinary expense and interest) to the extent the "Total Annual Fund Operating Expenses" exceed 0.45%. The “Total Annual Fund Operating Expenses After Expense Reimbursement" may be higher than the contractual limitation as a result of the excepted expenses that are not reimbursed. This contractual limitation may not be terminated before July 31, 2019 without the approval of the Board of Trustees. In the absence of contractual expense reimbursements, yield, total return, growth since inception and dividends would have been reduced. Total return is based on net change in NAV assuming reinvestment of distributions.
|Gross Expense Ratio||Net Expense Ratio‡|
|Large Cap Core||0.58%||0.46%|
|‡Includes contractual expense reimbursements that, if not extended, will end on July 31, 2019. The Fund also includes voluntary expense reimbursements that may change or end at any time.|
|Large Cap Core||-5.89%||20.31%||11.23%||-1.50%||13.84%|
|S&P 500 Index||-4.38%||21.83%||11.96%||1.38%||13.69%|
|Morningstar Category Avg. Large Value||-8.53%||15.94%||14.81%||-4.05%||10.21%|
|Performance quoted represents past performance and does not guarantee future results.|
|Top 10 Holdings||Fund|
|Alphabet Inc Class A||2.9%|
|Johnson & Johnson||2.4%|
|Verizon Communications Inc||1.8%|
|UnitedHealth Group Inc||1.8%|
|Cisco Systems Inc||1.6%|
|Risk Characteristics*||Large Cap Core||S&P 500 Index|
|Up Market Capture||89.77||100.00|
|Down Market Capture||97.05||100.00|
|*||Above risk characteristics are based on a 3-year time period|
|Number of Holdings||144|
|Portfolio Turnover||50.70% (as of 03/31/18)|
|Dividend Income Last Quarter||$0.0708|
|Capital Gain Income Last Quarter||$0.1730|
|Weighted Average Market Cap ($Mil)||$199,415|
|Benchmark||S&P 500 Index|
|Morningstar Category||Large Value|
|Trailing 12-Month Price-to-Earnings Ratio|
|Historical 5-Year Earnings Growth|
|Cash & Cash Equivalents||2.4%|
With Northern Trust Since 2007
Began Career in 1995
Mark C. Sodergren, Senior Vice President of Northern Trust, is Head of the Quantitative Active Equity team responsible for research and implementation of several quantitative equity strategies. He currently manages the Northern International Equity Fund, Northern Large Cap Core Fund and is a co-manager of the Northern Large Cap Value Fund.
Before joining Northern Trust in 2007, Mr. Sodergren was a portfolio manager at Barclays Global Investors focused on active U.S. large cap strategies. Prior to this, he spent six years at Citigroup Asset Management as a portfolio manager and researcher focused on both active international and domestic portfolios.
Mr. Sodergren received a B.A. in quantitative economics and decision sciences from the University of California, San Diego and an MBA from the University of Chicago. He is an active CFA® charterholder and member of the Chicago Quantitative Alliance.
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.
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