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Equity Index

International Equity Index

 
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TickerNAV AS OF 06/05/23
NOINX$13.27 $-0.03 Arrow Down Icon
 
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Snapshot
The International Equity Index Fund is a good choice for those moderate risk investors seeking competitive long-term investment returns through a broadly diversified portfolio. The Fund offers a high degree of relative predictability in an uncertain stock market by seeking investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the MSCI EAFE Index.
Fund Objective
Seeks to Replicate Index
Fund Strategy
  • Passively managed, the Fund seeks to duplicate the investment composition and overall performance of the stocks included in the MSCI EAFE® Index.
  • The MSCI EAFE® Index consists of 21 developed countries, primarily in Europe and Asia.
  • Use proprietary quantitative techniques designed to minimize trading costs.
Investor Profile
If you're a moderate risk investor seeking competitive long-term investment returns through a broadly diversified portfolio, this Fund may be appropriate for you. It offers a high degree of relative predictability in an uncertain stock market by seeking investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the MSCI EAFE Index.
Redemption Fee
2% on shares sold or exchanged within 30 days of purchase
Risk/Reward Potential
”Risk/Reward

Fund Literature

 

Morningstar Sustainability Rating*


Among 4,572 Foreign Large Blend Funds as of 12/31/2018. Based on 98.95% of AUM.

 

 
        Important risk information can be found on the Portfolio tab.

         

         

        *The Morningstar Sustainability Rating is a measure of how well the companies held by a fund are managing their Environmental, Social and Governance ("ESG") risks and opportunities when compared with similar funds. A fund's Sustainability Rating is assigned in two steps: First, a Morningstar Portfolio Sustainability Score is derived from an asset-weighted average of the underlying company ESG scores with deductions made for holdings involved in controversial incidents. Next, funds are sorted into five normally distributed groups by comparing a fund’s Portfolio Sustainability Score with that of its Morningstar Category peers. The peer groups are assigned as follows: 5 Globe Icons (“High”) = top 10% of funds in an asset category; 4 Globe Icons ("Above Average") = next 22.5% of funds; 3 Globe Icons ("Average") = next 35%; 2 Globe Icons ("Below Average") = next 22.5% and 1 Globe Icon ("Low") = next 10%.

        For a portfolio to receive a Morningstar Sustainability Score, at least 50% of its assets must be in one of the more than 4,500 companies covered by Sustainalytics (a research firm which collects ESG data) globally. To receive a Morningstar Sustainability Rating, at least 10 funds in a Morningstar Category must also receive a Portfolio Sustainability Score. The Sustainability Rating is portfolio-based, not performance-based. It should be used alongside traditional risk, return, and style metrics as well as qualitative assessments of a fund's investment process and how well it has been executed over time. Sustainability scores are calculated on a monthly basis and range from 0 to 100, 100 being the best. For more information, visit global.morningstar.com/SustainableInvesting.

        As of 3/31/19, the International Equity Index Fund received the following: ESG Score 58.97 – Controversy Score 6.50 which equals a Sustainability score 52.47 (11% category rank; 4,829 funds) and a Sustainability Rating of 4 Globe Icons (or "Above Average").

         
        CUSIP665130209
        YTD Total Return9.67% (as of 06/05/23)
        Inception Date03/22/05
        Total Net Assets$5,332,289,729 (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.
        International Equity Index0.85%10.22%10.22%-4.04%7.36%2.25%8.78%4.09%
        MSCI EAFE Index0.63%9.98%9.98%-3.71%7.27%2.33%8.96%4.53%
        Morningstar Cat. Avg.
        Foreign Large Blend        		0.70%10.24%10.24%-5.01%6.62%2.10%8.43%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 0.25%. 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, 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‡
        International Equity Index0.15%0.10%
        ‡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
        International Equity Index-13.75%25.26%1.11%-0.93%-5.79%
        MSCI EAFE Index-13.79%25.03%1.00%-0.81%-4.90%
        Morningstar Category Avg. Foreign Large Blend-14.59%25.12%0.79%-1.59%-4.98%
        Performance quoted represents past performance and does not guarantee future results.
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        Portfolio Composition
           
        Top 10 HoldingsFund
        Nestle SA2.1%
        Novartis AG1.5%
        Roche Holding Ltd 1.4%
        HSBC Holdings PLC1.2%
        BP PLC1.1%
        Royal Dutch Shell PLC 1.0%
        Total SA1.0%
        Toyota Motor Corp1.0%
        AIA Group Ltd0.9%
        Royal Dutch Shell PLC Class B0.9%
        As of 03/31/19
        Sector WeightingsFundBenchmark
        Financials18.9%18.9%
        Industrials14.4%14.4%
        Consumer Staples11.8%11.8%
        Health Care11.3%11.3%
        Consumer Discretionary11.0%11.0%
        Materials7.5%7.5%
        Information Technology6.3%6.3%
        Energy5.8%5.8%
        Communication Services5.4%5.4%
        Real Estate3.9%3.9%
        Utilities3.7%3.7%
           
        Top 10 Country WeightingsFundBenchmark
        Japan23.7%24.0%
        United Kingdom17.3%17.2%
        France11.3%11.2%
        Switzerland8.8%8.9%
        Germany8.7%8.6%
        Australia7.0%6.9%
        Hong Kong4.1%4.1%
        Netherlands3.6%3.6%
        Spain3.0%3.0%
        Sweden2.6%2.6%
        As of 03/31/19
        Risk Characteristics*International Equity IndexMSCI EAFE Index
        Beta0.961.00
        Up Market Capture94.72100.00
        Down Market Capture93.72100.00
        Information Ratio0.060.00
        *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 Holdings928
        Portfolio Turnover31.54% (as of 03/31/18)
        Dividend ScheduleAnnually
        Dividend Income Last QuarterN/A
        Capital Gain Income Last QuarterN/A
        Weighted Average Market Cap ($Mil)$59,660
        BenchmarkMSCI EAFE Index
        Morningstar CategoryForeign Large Blend
        Trailing 12-Month Price-to-Earnings Ratio
        Fund14.41
        Benchmark14.41
        Price-to-Book Ratio
        Fund1.62
        Benchmark1.62
        Historical 5-Year Earnings Growth
        Fund9.67
        Benchmark9.49
        Asset Allocation 
        Stocks98.4%
        Cash1.6%
        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.
        International Risk: International investing involves increased risk and volatility.
        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 EAFE® Index is a free float-adjusted market capitalization index that is designed to measure the equity performance of developed markets, excluding the U.S. and Canada. It is not possible to invest directly in an index.
        .
        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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            Not FDIC insured | May lose value | No bank guarantee

            View investment term definitions

            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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