Fund Research for Northern High Yield Muni (NHYMX)

  • Fund Overview

    Fund Inception Date: Dec 31, 1998
    Category: High Yield Muni
    Overall Risk: Average
    Fund Family: Northern Funds
    Return Since Inception: 2.72%
    YTD Return: 22.27%
    Yield (TTM): 4.63%
    Net Assets: 618.09 M
    Morningstar Rating:
    2 of 5
    The investment seeks a high level of current income exempt from regular federal income tax. The fund normally invests at least 65% of net assets in rated and unrated municipal instruments that are of low-quality or medium or upper medium-quality. During temporary defensive periods, it may invest all of assets in securities of higher quality. The fund normally invests at least 80% of net assets in debt instruments that pay interest which is exempt from regular federal income tax.

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    Details
    Average Eff Duration 7.28 Yrs
    Average Eff Maturity 18.5 Yrs
    Average Credit Quality A
    Morningstar Rating as of 10/31/2009
    YTD Returns as of 11/25/2009    		 Style Box Detail calculations do not include the fund's short positions (if any)

  • Fund Performance

    10 year Growth Chart
    Growth of $10,000 from 12/31/1998 to 10/31/2009
    Mouseover the chart to see values for each month.

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    Total Annualized Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Fund 22.27% 15.48% -2.40% 0.88% 3.54% 2.72%
    +/- Category -6.64% -3.54% -0.05% -0.48% -0.04% —
    +/- Barclays Municipal TR USD — — — — 5.66% —

    Standardized Annual Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Month (as of 10/31/2009) 22.28% 12.08% -2.27% 0.85% 3.54% 2.72%
    Quarter (as of 09/30/2009) 23.97% 3.58% -1.61% 1.39% 3.38% 2.87%
    Fund and Category YTD, 1yr, 3yr and 5yr Returns as of 11/25/2009
    Index YTD,1yr, 3ys and 5yr Returns as of 11/25/2009 10 yr and Since Inception Returns as of 10/31/2009
    Inception Date: 12/31/1998
    Ratings are based on risk-adjusted performance.
    View Total Returns

  • Fund Portfolio Profile

    Sector Breakdown

    Stocks
    General Obligations 5.92%
    Advanced Refunded 1.62%
    State Appropriated Tobacco 0.32%
    Non-state Appropriated Tobacco 2.21%
    Education 6.04%
    Health 8.35%
    Housing 0.79%
    Industrial 5.25%
    Transportation 1.48%
    Utilities 1.82%
    Water/Sewer 4.47%
    Misc. Revenue 26.54%
    Bond Quality
    AAA —
    AA —
    A —
    BBB —
    BB —
    B —
    Below B 0.62%
    Not Rated 12.41%

    Asset Allocation

    Short Long Net Assets
    Cash — 0.08% 0.08%
    Stocks — 0.00% 0.00%
    Bonds — 99.92% 99.92%
    Other — 0.00% 0.00%
    Foreign Stocks
    (as a % of assets)    		 — 0.00% 0.00%
    Data as of 09/30/2009 Data as of 09/30/2009 View Fund Portfolio

    Top 10 Holdings

    Maturity Date Total Holdings Value of Holdings Net Assets
    * Valdez Alaska Marine Term Rev Var Ref R 07/01/2037 14.8 M 14.8 M 2.56%
    + Harris Cnty Tex Cultural Ed Fa Var Rev B 12/01/2024 10.6 M 10.6 M 1.83%
    + Utah Wtr Fin Agy Rev Var-Prog- 07/01/2036 8.3 M 8.3 M 1.43%
    * Univ Tex Perm Univ Fd Ref Perm 5.25% 07/01/2028 5 M 6.19 M 1.07%
    * Massachusetts Bay Transn Auth 5% 07/01/2028 5 M 5.99 M 1.04%
    = Snohomish Cnty Wash Sch Dist 5.25% 12/01/2021 5 M 5.88 M 1.02%
    = Pennsylvania St Go Bds 5% 04/15/2020 5 M 5.87 M 1.01%
    = Univ Mass Bldg Auth 11/01/2034 5.8 M 5.8 M 1.00%
    * Florida St Brd Ed Pub Ed Cap Outla 5% 06/01/2023 5 M 5.7 M 0.98%
    = New York St Dorm Auth 5% 10/01/2021 5 M 5.6 M 0.97%
    + Increase - Decrease = No change * New since last portfolio
    Data as of 09/30/2009
    Top 10 holdings account for the fund's short positions (if any). Net short positions appear shaded.
    View Fund Portfolio

  • Sales Information

    Sales Charge %

    Initial —
    Deferred —
    Taken from prospectus dated 07/31/2009
    Expense Ratio (based on net assets) 0.85%
    Taken from annual report dated 03/31/2009

  • Fund Management

    M. Jane McCart
    Start Date: 12/31/1998
    McCart is senior vice president and portfolio manager with Northern Trust Company, her employer since 1998. Previously, she was senior vice president and portfolio manager with Stein Roe & Farnham from 1983 to 1998. Prior to that, she spent nine and a half years as an assistant investment officer at the National Bank of Detroit.