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  • Total Fund Assets ($)
    Total assets managed by the fund, inclusive of all share classes.

  • NAV ($)
    Net asset value (NAV) represents a fund's per share market value.

  • 1 Day NAV Change ($)
    Change in net asset value (NAV) from the previous trading day.

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  • Inception Date
    Inception date of the fund's oldest share class.

Overview

How It Works

Seeks to offer relative safety by investing substantially all (at least 99.5%) of net assets in cash and securities issued or guaranteed as to principal and interest by the U.S. government or its agencies, instrumentalities and repurchase agreements that are fully collateralized by cash or such securities. The fund will seek to invest at least 50% of its net assets in the following securities that pay interest that generally is exempt from state income taxation. The Fund maintains a dollar-weighted average portfolio maturity of no more than 60 calendar days. Concentrate on sources of income that may be exempt from state income taxes, dependent on tax laws of the state of residence.

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

Total return for the 2021 period included $8.4 million related to antitrust proceeds. Absent these proceeds, the total return would have been lower. 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

 

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 0.35%. 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, 2024 without the approval of the Board of Trustees.

 

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.

 

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.

Meet the Team

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

Contact Us

Interested in learning more about our products and solutions? 

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.

 

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.

 

Investing involves risk. Principal loss is possible.

Not FDIC insured | May lose value | No bank guarantee

 

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