Northern mutual funds operate under Northern Trust Corporation management to deliver equity and fixed-income and real asset and multi-asset strategies with $1.3 trillion in assets under management as of Dec. 31, 2024. It uses active and index management approaches to achieve long-term value creation and risk management. The investment approach includes environmental, social and governance (ESG) factors. Northern mutual funds present an attractive investment opportunity because of these factors.
We have chosen three Northern mutual funds — Northern Income Equity NOIEX, Northern Multi-Manager High Yield Opportunity Fund NMHYX and Northern Large Cap Core NOLCX — that investors should buy now for the long term. These funds have a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), positive three-year and five-year annualized returns, minimum initial investments within $5000 and expense ratios considerably lower than the category average. So, these funds have provided a comparatively stronger performance and carry a lower fee.
Northern Income Equity fund invests most of its assets in income-producing equity securities, including dividend-paying common and preferred stocks. NOIEX advisors also invest in derivatives such as stock index futures contracts.
Reed A. LeMar has been the lead manager of NOIEX since July 31, 2017. Most of the fund’s exposure is in companies like Apple Inc. (8.3%), NVIDIA Corp. (7.6%) and Microsoft Corp. (5.7%) as of Dec. 31, 2024.
NOIEX’s three-year and five-year annualized returns are almost 12.3% and 16.2%, respectively. Its net expense ratio is 0.49%. NOIEX has a Zacks Mutual Fund Rank #1.
To see how this fund performed compared to its category and other 1, 2, and 3 Ranked Mutual Funds, please click here.
Northern Multi-Manager High Yield Opportunity Fund invests most of its assets in fixed-income securities with ratings below investment grade. NMHYX advisors also invest in debt obligations issued by domestic entities.
Neal Barrett has been the lead manager of NMHYX since May 22, 2023. Most of the fund’s exposure is in companies like Misc Bonds (65.6%), Other (4.4%) and Equities (2.6%) as of Dec. 31, 2024.
NMHYX’s three-year and five-year annualized returns are almost 4.6% and 4.9%, respectively. Its net expense ratio is 0.68%. NMHYX has a Zacks Mutual Fund Rank #1.
Northern Large Cap Core fund invests most of its net assets in a broadly diversified portfolio of domestic and foreign large-cap companies that are traded in the United States. NOLCX advisors consider large-cap companies as those with market capital within the range of the companies listed on the Russell 1000 Index.
Mark C. Sodergren has been the lead manager of NOLCX since July 31, 2011. Most of the fund’s exposure is in companies like Apple Inc. (8.3%), Microsoft Corp. (6.9%) and NVIDIA Corp. (6.4%) as of Dec. 31, 2024.
NOLCX ’s three-year and five-year annualized returns are almost 13.3% and 17.5%, respectively. Its net expense ratio is 0.45%. NOLCX has a Zacks Mutual Fund Rank #1.
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This article originally published on Zacks Investment Research (zacks.com).
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