Northern Trust is one of the major asset management companies, providing a variety of investment solutions and strategies to individuals and institutions. The company manages assets worth more than $1.1 trillion (as of Mar 31, 2021) based on assets raised in the country. It has investment professionals, with experience of more than 15 years.
Founded in 1889, Northern Trust at present has more than 19,000 employees worldwide in about 22 locations. Moreover, all Northern Trust funds bear a low sales load, which makes them solid investment choices.
Below we focus on three top-ranked Northern Trust mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy) and is expected to outperform its peers. Investors can click here to see the complete list of funds.
Northern Arizona Tax-Exempt Fund NOAZX seeks to offer a high current income exempted from regular federal income tax and Arizona State personal income tax by investing in municipal instruments. The fund invests the majority of its assets in debt instruments that pay interest exempted from regular federal income tax and in instruments that provide income exempted from Arizona State personal income tax. NOAZX carries a Zacks Mutual Fund Rank #1 and has three-year annualized returns of 4.2%.
As of the end of March 2021, NOAZX held 137 issues, with 3.07% of its assets invested in MARICOPA CNTY ARIZ INDL DEV AUTH HOSP REV 5%.
Northern Large Cap Value Fund NOLVX invests a large chunk of its assets in securities of those large-cap companies, which have market cap similar to the ones present on the Russell 1000 Value Index. The fund seeks capital growth for the long run. NOLVX sports a Zacks Mutual Fund Rank #1 and has three-year annualized returns of 11.1%.
Mark C. Sodergren is the fund manager of NOLVX since 2014.
Northern Multi-Manager High Yield Opportunity Fund NMHYX seeks total return that consists of a combination of income and capital appreciation. The fund invests the lion’s share of its assets in bonds and other fixed-income securities that are rated below investment grade, also known as junk bonds. NMHYX has returned 5.4% over the past three years and carries a Zacks Mutual Fund Rank #2.
NMHYX has an expense ratio of 0.86% compared with the category average of 0.96%.
To view the Zacks Rank and past performance of all Northern Trust mutual funds, investors can click here to see the complete list of funds.
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