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Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

FIXED INCOME FUND

NOFIX | Fund

$8.86

$356 M

4.27%

$0.38

0.51%

Vitals

YTD Return

1.9%

1 yr return

8.1%

3 Yr Avg Return

-2.4%

5 Yr Avg Return

0.0%

Net Assets

$356 M

Holdings in Top 10

18.4%

52 WEEK LOW AND HIGH

$8.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.51%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 248.30%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

FIXED INCOME FUND

NOFIX | Fund

$8.86

$356 M

4.27%

$0.38

0.51%

NOFIX - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return -2.4%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.95%
DIVIDENDS
  • Dividend Yield 4.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    FIXED INCOME FUND
  • Fund Family Name
    Northern Trust
  • Inception Date
    Apr 01, 2094
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Personette

Fund Description

The Fund will seek capital appreciation and current income in its attempt to maximize total return. In doing so, the Fund will invest, under normal circumstances, at least 80% of its net assets in bonds and other fixed-income securities. These may include:
∎
Obligations of the U.S. government or its agencies, instrumentalities or sponsored enterprises, including obligations that are issued by private issuers that are guaranteed as to principal and interest by the U.S. government, its agencies or instrumentalities;
∎
Obligations of U.S. state and local governments, and foreign governments;
∎
Obligations of domestic and foreign banks and corporations;
∎
Zero coupon bonds, debentures, convertible securities and loan participations;
∎
Mortgage and other asset-backed securities;
∎
Inflation-indexed securities; and
∎
Stripped securities evidencing ownership of future interest or principal payments on debt obligations.
The Fund may also seek to obtain exposure to these securities through investments in affiliated or unaffiliated investment companies, including exchange-traded funds (“ETFs”). The Fund primarily invests in investment grade domestic debt obligations (i.e., obligations rated within the top four rating categories by a Nationally Recognized Statistical Rating Organization (“NRSRO”) or of comparable quality as determined by NTI). However, the Fund may invest up to 20% of its total assets in domestic and foreign debt obligations that are rated below-investment grade (commonly referred to as “junk bonds”). Credit ratings are determined at the time of purchase.
The Fund may also invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933.
In buying and selling securities for the Fund, NTI uses a relative value approach. This approach involves an analysis of general economic and market conditions. It also involves the use of models that analyze and compare expected returns and assumed risks. Under the relative value approach, NTI will emphasize particular securities and types of securities (such as treasury, agency, asset-backed, mortgage-related and corporate securities) that the team believes will provide a favorable return in light of these risks.
The Fund’s dollar-weighted average maturity, under normal circumstances, will range between three and fifteen years. From time to time the Fund may have a focused investment (i.e., investment exposure comprising more than 15% of its total assets) in one or more particular sectors. As of March 31, 2024, the Fund had focused investments in the financials and industrials sectors.
NTI may engage in active trading, and will not consider portfolio turnover a limiting factor in making decisions for the Fund.
Read More

NOFIX - Performance

Return Ranking - Trailing

Period NOFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -5.7% 10.9% 48.82%
1 Yr 8.1% -1.8% 18.8% 44.73%
3 Yr -2.4%* -9.9% 27.5% 43.70%
5 Yr 0.0%* -7.5% 58.4% 45.27%
10 Yr 1.6%* -2.8% 73.7% 39.43%

* Annualized

Return Ranking - Calendar

Period NOFIX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -16.2% 8.1% 52.92%
2022 -16.5% -34.7% 131.9% 65.90%
2021 -2.5% -11.6% 4.4% 14.25%
2020 4.8% -10.1% 946.1% 35.15%
2019 7.4% -1.7% 16.9% 4.85%

Total Return Ranking - Trailing

Period NOFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -5.7% 10.9% 48.82%
1 Yr 8.1% -1.8% 18.8% 44.73%
3 Yr -2.4%* -9.9% 27.5% 43.70%
5 Yr 0.0%* -7.5% 58.4% 45.27%
10 Yr 1.6%* -2.8% 73.7% 39.43%

* Annualized

Total Return Ranking - Calendar

Period NOFIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -11.3% 11.9% 62.77%
2022 -13.9% -32.2% 131.9% 59.92%
2021 -0.2% -9.4% 9.2% 26.75%
2020 8.0% -1.9% 1009.0% 57.26%
2019 10.7% 1.1% 21668.0% 7.57%

NAV & Total Return History

NOFIX - Holdings

Concentration Analysis

NOFIX Category Low Category High NOFIX % Rank
Net Assets 356 M 2.9 M 314 B 72.39%
Number of Holdings 471 1 17787 64.86%
Net Assets in Top 10 61.2 M 1.62 M 35.1 B 79.30%
Weighting of Top 10 18.43% 4.4% 432.9% 67.08%

Top 10 Holdings

  1. T 4.125 08/15/53 7.10%
  2. SP 0 02/15/51 2.66%
  3. SEP 24 US 2YR SEP 24 2.46%
  4. FUT. CBT 5Y T-NOTE SEP24 2.41%
  5. BAC V2.687 04/22/32 0.82%
  6. AHL 7.625 10/15/25 144A 0.65%
  7. OHNAT 5.55 01/24/30 144A 0.62%
  8. TFC V5.867 06/08/34 MTN 0.61%
  9. TPMT 2022-1 A1 0.58%
  10. FR SB8502 0.53%

Asset Allocation

Weighting Return Low Return High NOFIX % Rank
Bonds 		89.81% 0.00% 993.61% 74.44%
Other 		11.12% -16.55% 52.94% 23.46%
Convertible Bonds 		3.58% 0.00% 7.93% 5.57%
Cash 		0.51% -54.51% 237.69% 81.45%
Stocks 		0.00% 0.00% 99.99% 77.40%
Preferred Stocks 		0.00% 0.00% 71.02% 74.39%

Bond Sector Breakdown

Weighting Return Low Return High NOFIX % Rank
Corporate 		56.07% 0.00% 100.00% 5.26%
Government 		24.49% 0.00% 86.23% 50.46%
Securitized 		19.25% 0.00% 98.40% 84.00%
Derivative 		1.79% -1.58% 44.82% 4.71%
Cash & Equivalents 		0.51% -0.46% 237.69% 76.02%
Municipal 		0.05% 0.00% 100.00% 68.42%

Bond Geographic Breakdown

Weighting Return Low Return High NOFIX % Rank
US 		89.81% 0.00% 993.61% 67.93%
Non US 		0.00% 0.00% 30.95% 77.66%

NOFIX - Expenses

Operational Fees

NOFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.51% 0.01% 39.64% 70.93%
Management Fee 0.43% 0.00% 1.76% 76.71%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% 83.78%

Sales Fees

NOFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

NOFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NOFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 248.30% 2.00% 493.39% 76.79%

NOFIX - Distributions

Dividend Yield Analysis

NOFIX Category Low Category High NOFIX % Rank
Dividend Yield 4.27% 0.00% 10.11% 58.90%

Dividend Distribution Analysis

NOFIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NOFIX Category Low Category High NOFIX % Rank
Net Income Ratio 1.95% -1.28% 4.79% 34.02%

Capital Gain Distribution Analysis

NOFIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

NOFIX - Fund Manager Analysis

Managers

Daniel Personette

Start Date

Tenure

Tenure Rank

Jul 31, 2013

8.84

8.8%

Daniel J. Personette, CFA is a Vice President, Director- Interest Rate Strategy and a Senior Fixed Income Portfolio Manager with the long duration fixed income group within Northern Trust Global Investments. Dan is responsible for the interest rate strategy for active long duration fixed income, and is also lead portfolio manager for $15 billion passive global interest rate and $11 billion in domestic inflation products and ETF's. Prior to joining Northern Trust as an Accounting Auditor in 1996, he served in the shareholder service department at Kemper Mutual Funds. He was named an Officer In September of 2000, and a Second Vice President in 2003.

Morten Olsen

Start Date

Tenure

Tenure Rank

Sep 29, 2020

1.67

1.7%

Morten Olsen is a Vice President of Northern Trust Investments, Inc. Mr. Olsen joined Northern Trust Investments, Inc. in 2009. From 2004 to 2008, Mr. Olsen worked at Lehman Brothers and from 2008 to 2009 at Nomura. In both roles, Mr. Olsen was responsible for the investment of the banks liquidity pool.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.79 1.16

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