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Overview

How It Works 

The 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.
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Fund Facts

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

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.

Distributions

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.

Flows, Liquidity %, Shadow NAV

Shadow NAV is a money market fund’s price per share based on available market quotations of its securities.

Characteristics

  

Exposure Breakdowns

Distribution Calculations: (Security 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.

Team Expertise

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.

Daniel LaRocco

Portfolio ManagerRead Bio

Antulio N. Bomfim

Portfolio ManagerRead Bio

Literature

Fund Documents

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