How It WorksThe Portfolio seeks to maximize current income to the extent consistent with the preservation of capital and maintenance of liquidity by investing primarily in marketable securities issued or guaranteed as to principal and interest by the U.S. government, or any of its agencies or instrumentalities, and repurchase agreements backed by such securities. The Fund maintains a dollar-weighted average portfolio maturity of no more than 60 calendar days.
The Fund may be suitable for conservative investors looking for liquidity and convenience, with money market rates of return. Money market funds invest in short-term instruments with maturities of 13 months or less, in an effort to maintain a stable net asset value of $1.00 per share.
U.S. Government Guarantee: U.S. government guarantees apply only to the underlying securities of a Fund’s portfolio and not the Fund’s shares.
*Includes contractual expense reimbursements that, if not extended, will end on July 31, 2024.
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. Performance data current to the most recent month-end can also be obtained by calling 800-595-9111.
Total return for the 2021 period included $8.4 million related to antitrust proceeds. Absent these proceeds, the total return would have been lower. In the absence of contractual and voluntary 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.
NAV Information: Market Value NAV is calculated using current market quotations, or an appropriate substitute, to value a portfolio. This NAV is not currently being used for transacting purchase and sale activity. All purchase and sale activity is being transacted at the Amortized Cost NAV of $1.00.
Indices are unmanaged and investors cannot invest directly in an index. Unless otherwise noted, performance of indices do not account for any fees, commissions or other expenses that would be incurred. Returns do not include reinvested dividends. The returns for the Morningstar or the iMoneyNet Category Average represents a universe of funds with similar objectives.
The 7-Day SEC Yield is an annualized yields based on the most recent 7-day period. The 7-Day SEC Yield more closely reflects the current earnings of the Portfolio than the total return quotation. The 7-Day SEC Yield is calculated in accordance with SEC requirements and does not include capital gains. At times, the 7-Day SEC Yield may differ from the 7-Day Yield of a Portfolio because of the exclusion of distributed capital gains. The 1-Daily Yield and 7-Day Yield includes capital gains, if any. The subsidized yields reflect any contractual or voluntary reimbursement or waivers that may be in effect for all of a period shown. Unsubsidized yields reflect the performance of the Portfolio if any contractual or voluntary waivers had not been in place during the period shown.
Income Paid Last Month: Reinvestment date of July 31. The amount shown represents dividends paid from fund net investment income and excluded distributions from capital gain income.
Shadow NAV is a money market fund’s price per share based on available market quotations of its securities.
Quality Distribution: A security is classified as Tier 1 when two or more of the three nationally recognized statistical rating agencies have assigned a rating in their top short-term ratings category (A1+ and A1 for Standard & Poor’s, P1 for Moody’s and F1+ and F1 for Fitch).
Distribution Calculations: (Security Distribution, Quality Distribution, Maturity Distribution and Sector Distribution) are measured on a trade date basis and exclude uninvested cash from the market value used to compute the percentage calculations.
Maturity Distribution: The data is measured using the lower of the stated maturity date or next interest rate reset date.
Our investment team seeks to compensate investors for risk and deliver better outcomes in all market environments.
Northern Trust’s liquidity solutions is part of the broader fixed income team with 58 investment professionals averaging 21 years of industry experience.
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U.S. Government Guarantees apply only to the underlying securities of a Fund's portfolio and not the Fund's shares
U.S. Government Securities Risk is the risk that the U.S. government will not provide financial support to its agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. Certain U.S. government securities purchased by the Fund are neither issued nor guaranteed by the U.S. Treasury and, therefore, may not be backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. government securities may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that the issuers of such securities will not have the funds to meet their payment obligations in the future.
You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
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.
Investing involves risk. Principal loss is possible.
Not FDIC insured | May lose value | No bank guarantee
©2023 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.