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|For those long-term investors looking to diversify your investment among various asset classes (stocks, bonds, commodities, and other) both domestic and foreign. The Fund seeks to provide long-term capital appreciation and current income. The Fund invests primarily in shares of a combination of underlying mutual funds and exchange-traded funds ("ETFs"), with its asset allocation model adjusted based on changing market conditions. The Fund will invest significantly in companies that are represented in diversified foreign indices. Dividends, if any, are declared and paid quarterly. Capital gains, if any, are distributed at least annually.
|Capital Appreciation and Current Income|
|For those long-term investors looking to diversify your investment among various asset classes (stocks, bonds, commodities, and other) both domestic and foreign, then this Fund may be right for you.|
|Asset Allocation Weightings (As of 03/31/19)|
|Overall Morningstar RatingTM|
Among 397 world allocation funds derived from a weighted average of the fund's 3-,5-, and 10-year risk-adjusted returns as of 3/31/19.
Global Tactical Asset Allocation received 4 stars for the 3-year rating among 397 world allocation funds, 4 stars for the 5-year rating among 321 funds and 3 stars for the 10-year rating among 161 funds.
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.
©2019 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.
|YTD Total Return||-18.46% (as of 04/02/20)|
|Total Net Assets||$91,492,108 (as of 03/31/19)|
|Month|| ||YTD|| ||3-Year||5-Year|| || Since
|Global Tactical |
|Asset Allocation |
|Internal Reference |
|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 0.25%. 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‡|
|Global Tactical Asset Allocation||0.74%||0.58%|
|‡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.|
|Global Tactical Asset Allocation||-7.91%||14.18%||9.12%||-2.24%||2.14%|
|Asset Allocation Blend Index||-5.70%||15.39%||5.92%||-0.96%||4.97%|
|Internal Reference Benchmark||-5.70%||14.26%||7.75%||-2.71%||4.54%|
|Morningstar Category Avg. World Allocation||-8.26%||14.79%||6.04%||-4.15%||1.54%|
|Performance quoted represents past performance and does not guarantee future results.|
|FlexShares Morningstar US Market Factor TILT Index Fund||17.3%|
|iShares iBoxx High Yield Corporate Bond||10.9%|
|FlexShares Morningstar Developed Markets ex-US Factor TILT Index Fund||9.7%|
|FlexShares Morningstar Emerging Market Factor TILT Index Fund||7.8%|
|FlexShares US Quality Dividend Index Fund||7.5%|
|FlexShares Credit Scored US Corp Bond Index Fund||6.8%|
|iShares MBS ETF||6.2%|
|FlexShares International Quality Dividend Index Fund||5.8%|
|iShares 3-7 Year Treasury Bond Fund||5.0%|
|FlexShares Morningstar Global Upstream Natural Resources Index Fund||5.0%|
|FlexShares Global Quality Real Estate Index Fund||4.0%|
|FlexShares Disciplined Duration Fund||3.7%|
|iShares Trust Long Term Corporate Bond EFF||3.1%|
|iShares 20+ Year Treasury Bond Fund||2.1%|
|FlexShares STOXX Global Broad Infrastructure Fund||2.0%|
|NIF US Government Portfolio||0.9%|
|iShares 1-3 Year Credit Bond ETF||0.8%|
|iShares 7-10 Year Treasury Bond Fund||0.8%|
|FlexShares Credit-Scored US Long Corporate Bond Index Fund||0.6%|
|Risk Characteristics*||Global Tactical Asset Allocation||Asset Allocation Blend Index|
|Up Market Capture||94.55||100.00|
|Down Market Capture||96.01||100.00|
|*||Above risk characteristics are based on a 3-year time period|
|Number of Holdings||18|
|Portfolio Turnover||25.39% (as of 03/31/18)|
|Dividend Income Last Quarter||$0.0160|
|Capital Gain Income Last Quarter||N/A|
|Benchmark||Asset Allocation Blend Index|
|Morningstar Category‡||World Allocation|
|Cash & Cash Equivalents||0.9%|
With Northern Trust Since 2009
Began Career in 1989
Bob Browne, Executive Vice President and Chief Investment Officer for Northern Trust. He is a member of Northern Trust's Operating Group, reporting directly to the Management Group. Mr. Browne is also a co-manager for the Northern Global Tactical Asset Allocation Fund.
Mr. Browne chairs the firm’s Investment Policy Committee, which sets investment policy for all Northern Trust groups in all asset classes. He is responsible for investment performance, process and philosophy across multiple investment strategies including fixed income, active equity and passive investments. Mr. Browne has more than 25 years of investment experience.
Prior to joining Northern Trust in 2009, Mr. Browne worked for ING Investment Management and was the firm’s Chief Investment Officer for Fixed Income and Proprietary Investments from 2004 until 2009. In this capacity, he oversaw $120 billion in assets under management across retail and institutional clients, as well as the firm’s own insurance assets. From 2002 to 2004, he was founder and Managing Partner of Picador Capital, an alternative investment firm. From 1999 to 2001, he was Co-Head of Americas Fixed Income for Merrill Lynch Investments and he also worked in the firm’s London office from 1997 to 1999 as a senior portfolio manager. Mr. Browne spent the first eight years of his career, from 1989 until 1997, at JP Morgan Investment working as a global fixed income and currency portfolio manager in the firm’s Tokyo and London offices.
Mr. Browne holds a B.A. with a major in economics from the College of the Holy Cross. He also has a Masters in international business studies from the University of South Carolina. He is an active CFA® charterholder.
With Northern Trust Since 2005
Began Career in 2005
Daniel J. Phillips, Senior Vice President of Northern Trust and currently co-manages the Northern Global Tactical Asset Allocation Fund.
Mr. Phillips joined Northern Trust in 2005, and, alongside his Portfolio Manager responsibilities, is an Investment Strategist within the Northern Trust Asset Management business unit, overseeing the firm’s asset allocation processes and serving on the firm's Investment Policy Committee.
Mr. Phillips received a BBA in finance and economics from the University of Iowa and an MBA in finance, economics and international business from the University of Chicago. He is an active CFA® charterholder.
With Northern Trust Since 2001
Began Career in 1981
Jim McDonald, Executive Vice President and the Chief Investment Strategist for Northern Trust. In addition, he chairs the Northern Trust Tactical Asset Allocation Committee, is a member of the Investment Policy and Private Equity Investment Committees, and is trustee of the Northern Trust Alpha Strategies and Equity Long/Short Strategies Hedge Funds. Mr. McDonald is also a co-manager for the Northern Global Tactical Asset Allocation Fund.
Prior to joining Northern Trust in 2001, Mr. McDonald was Director of Equity Research at ABN AMRO in New York and Chicago (1994-2000) and Equity Research Analyst at ABN AMRO following the Environmental Services Industry (1990-1994). He started his professional career in 1981 with Arthur Andersen & Co. in Detroit.
Mr. McDonald received a BBA from the University of Michigan and an MBA with high distinction from Babson College. He is a member of the CFA Society Chicago and a registered CPA in the state of Michigan.
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.
©2019 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.