Fund Description

The fund was incepted in December 1998 and is managed by Northern Trust Investments. The fund seeks a high level of current income. In doing so, the fund may also consider the potential for capital appreciation. The fund focuses primarily on high-yielding, lower-rated corporate bonds (those rated BB or below; these are commonly referred to as 'non-investment grade' or 'junk bonds'). The fund's advisors believe these securities offer the opportunity for higher income and greater total return potential than is generally available from high quality, investment-grade securities. The fund invests, under normal circumstances, at least 80% of its net assets in lower quality bonds and other fixed income securities. Although the fund invests primarily in the debt obligations of domestic issuers, it may make limited investments in the securities of foreign issuers. Dividends, if any, are declared daily and paid monthly. Capital gains, if any, are declared and paid annually.