At the end of June, Northern Multi-Manager International Equity Fund celebrated its three-year anniversary and received a 4-star overall rating and 4 stars for the three-year period from Morningstar as of June 30, 2009 (among 617 foreign large blend funds).

The Fund, which has $1.4 billion in assets as of June 30, 2009, also ranked in the upper third of its Lipper category for the one- and three-year periods.

Lipper Rankings as of June 30, 2009

Learn more about all of Northern Funds 5- and 4-star mutual funds now.

Past performance is no guarantee of future results. Ratings reflect fee waivers in effect; in their absence, ratings may have been lower.

Due to ongoing market volatility, the Fund may have experienced negative returns for the time periods shown. For complete performance information, please visit the Fund’s profile page.

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.

Star ratings are based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s 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.