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|The Northern Small Cap Value Fund is a good choice for those aggressive investors looking for the value potential offered by the stocks of small companies - those that the adviser believes are worth more than is indicated by current market prices. It is intended for equity investors with an above-average tolerance for volatility who want to diversify their investments and plan to invest for the long term without concern for current income.
If you're a more aggressive investor looking for the value potential offered by the stocks of smaller companies — those the adviser believes are worth more than is indicated by current market prices — this Fund may be right for you. It is intended for equity investors with an above-average tolerance for volatility who want to diversify their investments and plan to invest for the long term without concern for current income.
|YTD Total Return||6.99% (as of 01/15/21)|
|Total Net Assets||$2,977,910,461 (as of 03/31/19)|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|Small Cap Value||-2.98%||11.92%||11.92%||-0.45%||8.55%||5.73%||14.18%||9.62%|
|Russell 2000 Value Index||-2.88%||11.93%||11.93%||0.17%||10.86%||5.59%||14.12%||9.63%|
|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 1.00%. The "Total Annual Fund Operating Expenses After Expense Reimbursement" may be higher than the contractual limitation as a result of the excepted expenses, including but not limited to acquired fund fees and 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‡|
|Small Cap Value||1.11%||1.00%|
|‡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.|
|Small Cap Value||-13.68%||6.43%||27.87%||-4.62%||7.07%|
|Russell 2000 Value Index||-12.86%||7.84%||31.74%||-7.47%||4.22%|
|Morningstar Category Avg. Small Value||-15.46%||8.54%||25.99%||-6.71%||3.34%|
|Performance quoted represents past performance and does not guarantee future results.|
|Top 10 Holdings||Fund|
|CACI International Inc||1.1%|
|Pebblebrook Hotel Trust||1.0%|
|Insight Enterprises Inc||0.9%|
|Southwest Gas Holdings Inc||0.9%|
|FTI Consulting Inc||0.9%|
|Radian Group Inc||0.8%|
|United Bankshares Inc||0.8%|
|Washington Federal Inc||0.7%|
|PNM Resources Inc||0.7%|
|Risk Characteristics*||Small Cap Value||Russell 2000 Value Index|
|Up Market Capture||88.55||100.00|
|Down Market Capture||100.13||100.00|
|*||Above risk characteristics are based on a 3-year time period|
|Number of Holdings||507|
|Portfolio Turnover||18.65% (as of 03/31/18)|
|Dividend Income Last Quarter||N/A|
|Capital Gain Income Last Quarter||N/A|
|Weighted Average Market Cap ($Mil)||$2,528|
|Benchmark||Russell 2000 Value Index|
|Morningstar Category||Small Value|
|Trailing 12-Month Price-to-Earnings Ratio|
|Historical 5-Year Earnings Growth|
With Northern Trust Since 1997
Began Career in 1995
Robert H. Bergson, Senior Vice President of Northern Trust, is a senior portfolio manager and researcher for Northern Trust's Quantitative Active Equity Team. He is responsible for research and implementation of several small cap equity strategies representing more than $3.5 billion in small cap assets. He manages the Northern Small Cap Core Fund and Northern Small Cap Value Fund.
Prior to joining Northern Trust in 1997, Mr. Bergson served as Director of Investment Research for Real Estate Research Corporation, a real estate consulting and research firm.
Mr. Bergson received a B. Arch. from Carnegie Mellon University and an M.S. in real estate development from the Massachusetts Institute of Technology. He is an active CFA® charterholder, and a member of the CFA Institute, the CFA Society Chicago and 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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