Northern International Equity Fund NOIGX Strategy

The investment seeks long-term capital appreciation; any income received is incidental to this objective. The fund will invest, under normal circumstances, at least 80% of its net assets in equity securities. The fund will invest significantly (at least 40%) in the securities of companies that are located, headquartered, incorporated or otherwise organized outside of the United States. The fund may invest up to 25% of its total assets in emerging market countries (i.e., those that are generally in the early stages of their industrial cycles).