This Fund is not a money market fund, which maintains a $1.00 NAV, and the Fund's share price will fluctuate with its returns. An investment in the Fund can result in the loss of principal.
|Fund Objective:||Total Return|
Among 94 ultrashort bond funds derived from a weighted average of the fund's 3-year risk-adjusted returns as of 11/30/2013.
Ultra-Short Fixed Income received 4 stars for the 3-year rating among 94 ultrashort bond funds. The 5- and 10-year Morningstar Ratings are not available.
Past performance is no guarantee of future results. Ratings reflect fee waivers in effect; in their absence, ratings may have been lower.
Star ratings are based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly performance (including the effects of sales charges and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The overall rating is a weighted average of the 3-, 5-, and 10-year (if applicable) returns. 5 stars = top 10% of funds in an asset category; 4 stars = next 22.5% of funds; 3 stars = next 35%; 2 stars = next 22.5% and 1 star = next 10%. A fund must be in existence three years to be rated. Ratings are subject to change monthly.
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The Advisor has agreed to reimburse certain expenses of the Fund (excluding acquired fund fees and expenses; a portion of the compensation paid to each Trustee who is not an officer, director or employee of Northern Trust Corporation or its subsidiaries; expenses related to third-party consultants engaged by the Board of Trustees of the Trust; membership dues paid to the Investment Company Institute and Mutual Fund Directors Forum; extraordinary expenses; and interest, if any) to the extent the "Total Annual Fund Operating Expenses" exceed 0.25%. The contractual limitation may not be terminated before July 31, 2014 without the approval of the Board of Trustees. In the absence of fee waivers, 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‡|
|Ultra-Short Fixed Income|
|‡Includes contractual expense reimbursements that, if not extended, will end on
July 31, 2014.
|Ultra-Short Fixed Income||2.43%||0.87%||1.53%|
|BofA Merrill Lynch 1-Year U.S. Treasury Note Index||0.24%||0.56%||0.83%|
|Morningstar Category Avg.|
|Performance quoted represents past performance and does not guarantee future results.|
|Number of Holdings||352|
|Average Duration†||1.1 YRS|
|Average Maturity||421 DAYS|
|Yield to Maturity||0.74%|
|Dividend Income Last Quarter||$0.0181|
|Capital Gain Income Last Quarter||N/A|
|Benchmark||BofA Merrill Lynch 1-Year U.S. Treasury Note Index|
|Morningstar Category||Ultrashort Bond|