Northern Small Cap Value Fund NOSGX 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 of small capitalization value companies. Small capitalization value companies generally are considered to be those (i) whose market capitalization is within the range of the market capitalization of companies in the Russell 2000® Value Index, and (ii) that meet one of the following metrics: (a) is included in the Russell 2000® Value Index or other third-party value index, or (b) is classified as value by a third-party financial data provider.