Northern Trust announced the addition of the Northern Emerging Markets Equity Fund to the Northern Funds family of mutual funds.
The fund seeks to provide investment results that approximate the performance of the MSCI Emerging Markets Index. Using a quantitative, index-like investment approach, the fund intends to maintain similar sector exposure and risk as the index. With the launch of the new fund on April 25, Northern Funds adds to its existing family of 32 no-load domestic and international mutual funds.
Available directly to individual investors at no sales charge, the fund is also offered to high net worth investors through Northern Trust financial advisors and other intermediaries. Managed by James B. Francis, senior vice president Northern Trust Quantitative Management Group, stocks for the Northern Emerging Markets Equity Fund will be selected, held and liquidated on the basis of quantitative analysis. The new fund expects to benefit from Northern Trust’s expertise in index management. Northern currently manages more than $200 billion in quantitative strategies, of which $32 billion is in international assets.
“We’re delighted to be able to offer investors access to one of the strongest performing asset classes in recent years,” said Francis. “Many of our high net worth clients have become increasingly interested in allocating more of their portfolios to emerging markets.”