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Equity Index

Emerging Markets Equity Index

 
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TickerNAV AS OF 05/26/23
NOEMX$10.51  $0.16 Arrow Up Icon
 
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  • Snapshot
  • Performance
  • Portfolio
  • Management
  • Fund Documents
Snapshot
Emerging markets exposure may be suitable for those investors who have an above-average tolerance to market volatility and seek a global component to their diversified investment portfolio. Our Emerging Markets Equity Index Fund intends to invest a substantial portion of its total assets in foreign countries that are considered emerging markets. These markets involve additional risks including currency fluctuation, less market liquidity, more market volatility and political instability. The fund may invest more than 25% of it's assets in securities of issuers located in a single foreign country.
Fund Objective
Seeks to Replicate Index
Fund Strategy
  • Select stocks on the basis of quantitative analysis with the aim of producing a portfolio that will approximate the performance of the MSCI Emerging Markets Index.
  • Maintain industry diversification, country weightings, market capitalization and other financial characteristics similar to the Index.
  • Buy and sell securities in response to changes in the Index.
Investor Profile
If you are a long-term investor seeking access to the total return potential of emerging markets equities, this Fund may be right for you. Emerging markets exposure may be appropriate for investors with an above-average tolerance for market volatility who seek a global component for a broadly diversified investment portfolio.
Redemption Fee
2% on shares sold or exchanged within 30 days of purchase
Risk/Reward Potential
”Risk/Reward

Fund Literature

 
      Important risk information can be found on the Portfolio tab.

       
      CUSIP665162582
      YTD Total Return3.04% (as of 05/26/23)
      Inception Date04/25/06
      Total Net Assets$2,790,353,708 (as of 03/31/19)

      Total Returns

      Total Returns for Quarter Ending 03/31/19
      Annualized
      Month 3-Month YTD 1-Year 3-Year 5-Year 10-Year Since
      Incept.
      Emerging Markets Equity Index0.95%10.07%10.07%-8.34%10.37%3.33%8.28%3.49%
      MSCI Emerging Markets Index0.84%9.92%9.92%-7.41%10.68%3.68%8.94%3.43%
      Morningstar Cat. Avg.
      Diversified Emerging Mkts      		1.14%10.27%10.27%-9.31%9.11%2.61%8.92%N/A
      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 0.30%. 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.

      Annual Expense Ratios

       
       Gross Expense RatioNet Expense Ratio‡
      Emerging Markets Equity Index0.27%0.15%
      ‡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.

      Calendar Year Returns

       
             2018      2017      2016      2015      2014
      Emerging Markets Equity Index-15.04%37.34%10.63%-15.15%-3.34%
      MSCI Emerging Markets Index-14.57%37.28%11.19%-14.92%-2.19%
      Morningstar Category Avg. Diversified Emerging Mkts-16.07%34.17%8.47%-13.79%-3.01%
      Performance quoted represents past performance and does not guarantee future results. The recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes.
      Important risk information can be found on the Portfolio tab.

       
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      Portfolio Composition
         
      Top 10 HoldingsFund
      Tencent Holdings Ltd5.0%
      Alibaba Group Holding Ltd Sponsored ADR4.5%
      Taiwan Semiconductor Manufacturing Co Ltd3.7%
      Samsung Electronics Co Ltd3.5%
      Naspers Ltd Class N1.9%
      China Construction Bank Corp Class H1.6%
      China Mobile Ltd1.2%
      Ping An Insurance (Group) Co of China Ltd C1.1%
      Reliance Industries Ltd1.0%
      Industrial and Commercial Bank of China Ltd1.0%
      As of 03/31/19
      Sector WeightingsFundBenchmark
      Financials24.2%24.2%
      Information Technology14.6%14.6%
      Consumer Discretionary13.4%13.4%
      Communication Services12.3%12.3%
      Energy8.0%8.1%
      Materials7.4%7.4%
      Consumer Staples6.4%6.4%
      Industrials5.4%5.4%
      Real Estate3.2%3.2%
      Health Care2.6%2.6%
      Utilities2.5%2.5%
         
      Top 10 Country WeightingsFundBenchmark
      China33.0%33.0%
      South Korea13.0%13.0%
      Taiwan11.4%11.4%
      India9.2%9.2%
      Brazil7.2%7.2%
      South Africa5.9%5.9%
      Russia3.7%3.7%
      Mexico2.7%2.7%
      Thailand2.3%2.3%
      Indonesia2.2%2.2%
      As of 03/31/19
      Risk Characteristics*Emerging Markets Equity IndexMSCI Emerging Markets Index
      Beta1.021.00
      Up Market Capture100.14100.00
      Down Market Capture101.93100.00
      Information Ratio–0.210.00
      *Above risk characteristics are based on a 3-year time period
         
      DateHoldings File
      As of 03/31/19Insert Icon
      As of 02/28/19Insert Icon
      As of 01/31/19Insert Icon
      As of 12/31/18Insert Icon
      As of 11/30/18Insert Icon
      As of 10/31/18Insert Icon

      Fund Characteristics

      Number of Holdings1,107
      Portfolio Turnover27.03% (as of 03/31/18)
      Dividend ScheduleAnnually
      Dividend Income Last QuarterN/A
      Capital Gain Income Last QuarterN/A
      Weighted Average Market Cap ($Mil)$85,869
      BenchmarkMSCI Emerging Markets Index
      Morningstar CategoryDiversified Emerging Markets
      Trailing 12-Month Price-to-Earnings Ratio
      Fund13.19
      Benchmark13.18
      Price-to-Book Ratio
      Fund1.70
      Benchmark1.71
      Historical 5-Year Earnings Growth
      Fund16.64
      Benchmark16.42
      Asset Allocation 
      Stocks98.8%
      Cash1.2%
      Equity Risk: Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed-income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.
      Emerging Markets Risk: Emerging market investing is subject to additional economic, political, liquidity and currency risks not associated with more developed countries.
      Index Fund Risk: The performance of the Fund is expected to be lower than that of the Index because of Fund fees and expenses. It is important to remember that there are risks associated with index investing, including the potential risk of market decline, as well as the risks associated with investing in specific companies.
      MSCI Emerging Markets IndexSM is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. It is not possible to invest directly in an index.
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      Steven J. Santiccioli

      Steven J. Santiccioli

      Portfolio Manager

      Northern Emerging Markets Equity Index Fund (NOEMX)
      Northern International Equity Index Fund (NOINX)

      With Northern Trust Since 2003
      Began Career in 1993

      Steven J. Santiccioli, Vice President of Northern Trust, manages the Northern Emerging Markets Equity Index Fund and Northern International Equity Index Fund.

      Prior to joining Northern Trust in 2003, Mr. Santiccioli was a portfolio manager with Deutsche Bank. Prior to his portfolio manager position at Deutsche, he served as the head of the accounting group for international index portfolios.

      Mr. Santiccioli received a B.A. from Bucknell University and an MBA from Fordham University.

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