Northern Multi-Manager High Yield Opportunity Fund NMHYX Strategy

The investment seeks total return consisting of a combination of income and capital appreciation. The fund invests at least 80% of its net assets in bonds and other fixed-income securities that are rated below investment grade (commonly referred to as "junk bonds"). The adviser utilizes a "multi-manager" approach whereby the fund's assets are allocated to one or more sub-advisers, in percentages determined at the discretion of the fund's investment adviser. Although the fund primarily invests in the debt obligations of domestic issuers, it may invest in debt obligations of foreign issuers.