Fund Facts  

Inception Date: Nov 19, 2008
CUSIP: 665162483
Ticker Symbol: NMMEX
Morningstar Category:Diversified Emerging Mkts
As of Jun 30, 2017
Fund Net Assets ($millions) $1,024

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to provide long-term capital appreciation.

Principal Investment Strategies  

The fund will invest, under normal circumstances, at least 80% of its net assets in equity securities of issuers domiciled in emerging and frontier markets. It utilizes a "multi-manager" approach whereby the fund's assets are allocated to one or more sub-advisers, in percentages determined at the discretion of the fund's investment advisers. The fund's sub-advisers may also consider emerging and frontier markets as classified by the World Bank, International Finance Corporation or the United Nations and other similar agencies.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Jun 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Northern Active M Em Mkts Eqa4.93%18.08%23.80%0.54%4.07%N/A12.45%
MSCI Emerging Markets Index (Net)a,b6.27%18.43%23.75%1.07%3.96%1.91%N/A
Morningstar Diversified Emerging Mktsa,c5.87%18.14%20.48%0.48%4.07%1.48%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total annual fund operating expensesa1.23%
Fee waiver and/or expense reimbursement0.13%
Total Expenses1.10%

A contractual expense waiver exists for this fund and will expire on 07-31-2017.

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index of equity securities that is designed to measure the equity market performance of emerging markets. The net version of this index reinvests dividends after the deduction of withholding taxes, using a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal–weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 15, 2016Dec 15, 2016$0.304816000
Dec 17, 2015Dec 17, 2015$0.646962000
Dec 18, 2014Dec 18, 2014$0.194559000
 

Morningstar Information

Morningstar RatingTM   As of Jun 30, 2017
Period Stars Category Size
Overall 3 Stars634
3-Year 3 Stars634
5-Year 3 Stars436
10-Year N/A N/A

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Jun 30, 2017
Equity Stylebox
Large Value
Allocation of Assets As of Mar 31, 2017
Type of Asset Percent
Equity97%
Fixed Income0%
Cash/Other3%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Mar 31, 2017
Asset ClassPercent
Domestic Stock1.8%
Foreign Stock95.3%
Domestic Bond0.1%
Foreign Bond0.0%
Preferred0.1%
Convertible0.0%
Cash0.0%
Other2.7%

Due to rounding, percentages shown may not add up to 100%.

 
Equity Sector As of Mar 31, 2017
SectorPercent
Technology24.8%
Financial Services23.1%
Basic Materials13.1%
Consumer Cyclical11.8%
Communication Services6.2%
Energy5.2%
Industrials4.9%
Consumer Defensive3.8%
Real Estate2.5%
Utilities0.6%
Healthcare0.4%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Country Exposure As of Mar 31, 2017
CountryPercent
China17.1%
South Korea16.3%
Taiwan13.1%
Brazil11.6%
India7.1%
South Africa6.3%
Mexico4.5%
Russia3.2%
Thailand2.5%
United States2.0%
Top Ten Holdings As of Mar 31, 2017
Holding NamePercent
Samsung Electronics Co Ltd6.4%
Taiwan Semiconductor Manufacturing Co Ltd4.4%
China Mobile Ltd2.8%
Itau Unibanco Holding SA ADR2.6%
Tencent Holdings Ltd2.5%
Shinhan Financial Group Co Ltd2.1%
Taiwan Semiconductor Manufacturing Co Ltd ADR2.1%
POSCO2.0%
Hon Hai Precision Industry Co Ltd2.0%
Alibaba Group Holding Ltd ADR2.0%
 

Statistics

Portfolio Statistics As of Jun 30, 2017
Statistic3-Year5-Year
Beta0.960.96
Alpha-0.520.24
Standard Deviation15.6514.03
 
 

Trading Restrictions

Redemption Fee  
Holding PeriodFee
30 days2.0%
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.