NOITX: Northern Intermediate Tax-Exempt

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NOITX Northern Intermediate Tax-Exempt


Profile

NOITX - Profile

Vitals

  • YTD Return 0.7%
  • 3 Yr Annualized Return 0.9%
  • 5 Yr Annualized Return 0.6%
  • Net Assets $2.95 B
  • Holdings in Top 10 11.6%

52 WEEK LOW AND HIGH

$10.84
$10.00
$11.07

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.47%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 115.01%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $500

Fund Classification

  • Primary Caregory Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Interm

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.46%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Northern Intermediate Tax Exempt Fund
  • Fund Family Name
    Northern Funds
  • Inception Date
    Mar 31, 1994
  • Shares Outstanding
    N/A
  • Share Class
    No Load
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Timothy McGregor

Fund Description

The fund invests at least 80% of the fund's net assets in debt instruments that pay interest that is exempt from regular federal income tax. During temporary defensive periods, all or any portion of its assets may be held uninvested or invested in AMT obligations and taxable instruments. The fund's dollar-weighted average maturity, under normal circumstances, will range between three and ten years. It may invest to a limited extent in obligations that are rated below-investment grade (commonly referred to as "junk bonds").


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Categories

Performance

NOITX - Performance

Return Ranking - Trailing

Period NOITX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -31.4% 945.6% 45.48%
1 Yr 1.7% -25.1% 973.3% 49.46%
3 Yr 0.9%* -10.3% 120.3% 36.17%
5 Yr 0.6%* -5.3% 60.2% 32.05%
10 Yr 0.4%* -5.1% 3.6% 42.86%

* Annualized

Return Ranking - Calendar

Period NOITX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -1.7% 18.3% 57.88%
2018 -1.5% -12.4% 0.8% 25.37%
2017 1.8% -6.0% 20.3% 25.68%
2016 -3.5% -7.8% 8.6% 91.34%
2015 0.3% -18.3% 3.0% 6.64%

Total Return Ranking - Trailing

Period NOITX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -31.4% 945.6% 45.48%
1 Yr 1.7% -25.1% 973.3% 49.68%
3 Yr 0.9%* -7.5% 120.3% 41.69%
5 Yr 1.0%* -5.3% 60.2% 25.95%
10 Yr 1.1%* -5.1% 6.8% 27.67%

* Annualized

Total Return Ranking - Calendar

Period NOITX Return Category Return Low Category Return High Rank in Category (%)
2019 3.7% -1.7% 18.3% 58.68%
2018 -1.5% -11.7% 3.1% 33.11%
2017 1.8% -6.0% 27.0% 36.27%
2016 -2.0% -7.8% 10.7% 64.51%
2015 0.7% -14.2% 4.2% 5.47%

NAV & Total Return History


Holdings

NOITX - Holdings

Concentration Analysis

NOITX Category Low Category High NOITX % Rank
Net Assets 2.95 B 634 K 264 B 21.26%
Number of Holdings 567 1 17920 30.29%
Net Assets in Top 10 334 M -587 M 20.8 B 25.11%
Weighting of Top 10 11.64% 2.3% 100.0% 82.58%

Top 10 Holdings

  1. TEXAS ST 4% 5.64%
  2. SOUTH CAROLINA TRANSN INFRASTRUCTURE BK REV 1.51% 0.85%
  3. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.73%
  4. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.73%
  5. CHARLOTTE N C CTFS PARTN 3% 0.71%
  6. UTAH TRAN AUTH SALES TAX REV 5.25% 0.70%
  7. CALIFORNIA ST 5% 0.67%
  8. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.54%
  9. BALTIMORE CNTY MD 4% 0.54%
  10. NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 0.75% 0.53%

Asset Allocation

Weighting Return Low Return High NOITX % Rank
Bonds
93.30% 71.08% 159.74% 75.74%
Cash
6.70% -59.74% 27.48% 17.74%
Stocks
0.00% -0.38% 18.10% 60.54%
Preferred Stocks
0.00% 0.00% 9.11% 64.42%
Other
0.00% -27.60% 31.83% 60.05%
Convertible Bonds
0.00% 0.00% 7.31% 77.75%

Bond Sector Breakdown

Weighting Return Low Return High NOITX % Rank
Municipal
93.30% 0.00% 100.11% 40.44%
Cash & Equivalents
6.70% -26.49% 24.02% 19.64%
Derivative
0.00% -0.83% 31.72% 62.98%
Securitized
0.00% 0.00% 98.72% 79.87%
Corporate
0.00% 0.00% 99.41% 83.53%
Government
0.00% -2.21% 100.00% 81.45%

Bond Geographic Breakdown

Weighting Return Low Return High NOITX % Rank
US
93.30% 58.40% 156.78% 47.53%
Non US
0.00% -38.91% 29.50% 92.24%

Expenses

NOITX - Expenses

Operational Fees

NOITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.47% 0.01% 34.57% 83.08%
Management Fee 0.42% 0.00% 1.25% 62.39%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% 81.25%

Sales Fees

NOITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

NOITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

NOITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 115.01% 0.00% 489.00% 79.62%

Distributions

NOITX - Distributions

Dividend Yield Analysis

NOITX Category Low Category High NOITX % Rank
Dividend Yield 0.00% 0.00% 6.20% 67.56%

Dividend Distribution Analysis

NOITX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

NOITX Category Low Category High NOITX % Rank
Net Income Ratio 2.46% -0.71% 6.02% 56.53%

Capital Gain Distribution Analysis

NOITX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

NOITX - Fund Manager Analysis

Managers

Timothy McGregor


Start Date

Tenure

Tenure Rank

Nov 30, 2000

19.43

19.4%

Timothy T.A. McGregor, Senior Vice President of Northern Trust Investments, Inc. Mr. McGregor has been manager for the Tax-Exempt Fund since November 1998 and has been manager for the Intermediate Tax-Exempt Fund since November 2000. Mr. McGregor joined Northern Trust Investments, Inc. in 1989 and has managed various municipal bond portfolios.

Nathan Miller


Start Date

Tenure

Tenure Rank

Oct 23, 2018

1.52

1.5%

Nate Miller is a Second Vice President at The Northern Trust Company, Chicago. He is a Portfolio Manager in the Municipal Fixed Income Group of Northern Trust Global Investments and is responsible for the management of a number of individual municipal bond portfolios.Mr. Miller joined Northern Trust in 1995 as an IMLG representative in Worldwide Operations and Technology. He relocated to Arizona in 1996 and worked as a Relationship Manager in the Corporate and Institutional Administration Group. He relocated back to Chicago in October 2003 and started as a Municipal Bond Trader for the Fixed Income Group within Northern Trust Global Investments NTGI prior to being named a Portfolio Manager in June 2005.Mr. Miller received a Bachelor of Science degree in Finance from the University of Illinois at Champaign – Urbana in 1994 and also studied in the Certified Employee Benefits Specialist program (CEBS) via the Wharton School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.44 7.42 0.33