Northern Fixed Income Fund (NOFIX - Free Report) a Zacks Rank #2 (Buy) was incepted in April 1994 and is co-managed by Northern Trust Investments and Northern Trust Global Investments (Europe) Limited. NOFIX seeks a high level of current income. NOFIX's approach is to invest in a broad range of investment-grade municipal instruments with an average maturity of 10 and 30 years. In seeking high current income, NOFIX invests, under normal circumstances, at least 80% of its net assets in bonds and other fixed income securities.
The Northern Fixed Income fund, managed by Northern, carries an expense ratio of 0.45%. Moreover, NOFIX requires a minimal initial investment of $2,500.
NOFIX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 3, 5 year benchmarks; 3 year 4.49% and 5 year 3.96%. To see how this fund performed compared in its category, and other #1 and #2 Ranked Mutual Funds, please click here .
NOFIX’s performance, as of the last filing, when compared to funds in its category was in the top 30% over the past 1 year, in the top 23% over the past 3 years, and in the 24% over the past 5 years.
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