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

Overview

How It Works

Invest in high-quality securities, primarily investment-grade debt. Maintain a dollar-weighted average maturity range, under normal circumstances, of between 3 and 10 years. Select investments on the basis of their relative value with a focus on seeking current income.

The Fund may be suitable for income-oriented investors in higher tax brackets seeking income that is exempt from regular federal income tax, and who are willing to assume some risk.

Explore other Northern Funds

View All Funds

Meet the Team

Our investment team seeks to compensate investors for risk and deliver better outcomes in all market environments.

Northern Trust’s 58 fixed income investment professionals average 21 years industry experience and are located across North America, Europe, and Asia.

Adam Shane, CFA®

Portfolio ManagerRead Bio

Tim Blair

Portfolio ManagerRead Bio

Fund Documents

Literature

Contact Us

Interested in learning more about our products and solutions? 

Bond Risk: Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.

Derivatives Risk is the risk that derivatives may pose risks in addition to and greater than those associated with investing directly in securities, currencies and other instruments, may be illiquid or less liquid, more volatile, more difficult to value and leveraged so that small changes in the value of the underlying instrument may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party to the transaction will not perform its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. 

High-Yield Risk is the risk that the Fund’s below-investment grade fixed-income securities, sometimes known as “junk bonds,” will be subject to greater credit risk, price volatility and risk of loss than investment grade securities, which can adversely impact the Fund’s return and NAV. High yield securities are considered highly speculative and are subject to the increased risk of an issuer’s inability to make principal and interest payments. 

Municipal Bond Risk: Debt securities issued by state or local governments may be subject to special political, legal, economic and market factors that can have a significant effect on the portfolio's yield or value

Tax Free / ATM Risk: A portion of the Fund’s otherwise tax-exempt income may be taxable to those shareholders subject to the federal alternative minimum tax.

Bloomberg Intermediate Municipal Bond Index is an unmanaged index of investment grade (Baa3 or better) tax-exempt bonds with maturities of five to 10 years. It is not possible to invest directly in an index.

Bloomberg Municipal 1 – 15 Year Index is an unmanaged index of investment grade (Baa3 or better) tax-exempt bonds with maturities of one to seventeen years. It is not possible to invest directly in an index.

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

 

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.

 

©2024 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.

 

©2024 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.