Signon to Passport
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Peter J. Flood With Northern Trust since 1979 |
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Daniel J. Phillips With Northern Trust since 2005 |
Fact Sheet 
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For those long-term investors looking to diversify your investment among various asset classes (stocks, bonds, commodities, and other) both domestic and foreign. The Fund seeks to provide long-term capital appreciation and current income. The Fund invests primarily in shares of underlying mutual funds, with its asset allocation model adjusted based on changing market conditions. The Fund will invest significantly in companies that are represented in diversified foreign indices. Dividends, if any, are declared and paid quarterly. Capital gains, if any, are distributed at least annually.
Fund Objective: Capital Appreciation and Current Income
Fund Objective: Capital Appreciation and Current Income
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| Asset Class | Investment Vehicle | Holdings Weight |
| U. S. Equity - Large, Mid, Small | Flexshares® Morningstar US Market Factor Tilt Index Fund | 28.0 |
| Non U.S. Equity - Developed | Flexshares® Morningstar Dev EX-US Market Factor Tilt Index Fund | 10.0 |
| Non U.S. Equity - Emerging Markets | Flexshares® Morningstar Emerging Market Factor Tilt Index Fund | 13.0 |
| Global Real Estate | NF Global Real Estate Index Fund | 5.1 |
| U.S. Bonds - High Yield | NF High Yield Fixed Income Fund | 12.9 |
| U.S. Bonds - Intermediate | NF Bond Index Fund | 10.4 |
| U.S. Bonds - Inflation Protected | Flexshares® iBoxx 5-Year Target Duration TIPS Index Fund | 4.9 |
| U.S. Bonds - Short | NF Short Bond Fund (formerly NIF Short Bond Portfolio 11-16-2012) | 10.4 |
| Commodities/Natural Resources | Flexshares® Morningstar Global Upstream Natural Resources Index Fund | 5.0 |
| Cash | NIF Diversified Assets Portfolio | 0.3 |
| Total | 100.0% |
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Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here.
The Advisor has agreed to reimburse certain expenses of the Fund (excluding acquired fund fees and expenses; a portion of the compensation paid to each Trustee who is not an officer, director or employee of Northern Trust Corporation or its subsidiaries; expenses related to third-party consultants engaged by the Board of Trustees of the Trust; membership dues paid to the Investment Company Institute and Mutual Fund Directors Forum; extraordinary expenses; and interest, if any) to the extent the "Total Annual Fund Operating Expenses After Expense Reimbursement" exceed 0.25%. The contractual limitation may not be terminated before July 31, 2013 without the approval of the Board of Trustees. In the absence of fee waivers, yield, total return, growth since inception and dividends would have been reduced. Total return is based on net change in NAV assuming reinvestment of distributions.
Disclosure
The Advisor has agreed to reimburse certain expenses of the Fund (excluding acquired fund fees and expenses; a portion of the compensation paid to each Trustee who is not an officer, director or employee of Northern Trust Corporation or its subsidiaries; expenses related to third-party consultants engaged by the Board of Trustees of the Trust; membership dues paid to the Investment Company Institute and Mutual Fund Directors Forum; extraordinary expenses; and interest, if any) to the extent the "Total Annual Fund Operating Expenses After Expense Reimbursement" exceed 0.25%. The contractual limitation may not be terminated before July 31, 2013 without the approval of the Board of Trustees. In the absence of fee waivers, yield, total return, growth since inception and dividends would have been reduced. Total return is based on net change in NAV assuming reinvestment of distributions.
Disclosure
| Gross Expense Ratio | Net Expense Ratio‡ | |
| Global Tactical Asset Allocation (BBALX) | 1.40% | 0.64% |
| ‡Includes contractual expense reimbursements that, if not extended, will end on July 31, 2013. |
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| 2012 | 2011 | 2010 | 2009 | 2008 | |
| Global Tactical Asset Allocation | 14.02% | -0.01% | 10.80% | 20.14% | -21.14% |
| Asset Allocation Blend Index | 13.09% | 1.28% | 13.05% | 23.59% | -27.78% |
| Internal Reference Benchmark | 12.37% | -0.05% | 12.19% | 24.24% | -24.10% |
| Morningstar Category Avg. Moderate Allocation | 11.72% | -0.11% | 11.83% | 24.13% | -28.00% |
| Performance quoted represents past performance and does not guarantee future results. | |||||
| Number of Holdings | 10 |
| Income** | $NaN |
| Dividend Schedule | Quarterly |
| Dividend Income Last Quarter | N/A |
| Capital Gain Income Last Quarter | N/A |
| Benchmark | Asset Allocation Blend Index |
| Morningstar Category | Moderate Allocation |
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