0000916620 2011-08-01 2012-07-31 0000916620 nf8:S000026479Member 2011-08-01 2012-07-31 0000916620 nf8:S000012490Member 2011-08-01 2012-07-31 0000916620 nf8:S000024144Member 2011-08-01 2012-07-31 0000916620 nf8:S000024145Member 2011-08-01 2012-07-31 NORTHERN FUNDS 0000916620 2012-03-31 false 2012-11-16 2012-11-16 2012-07-31 PROSPECTUS SUPPLEMENT   NORTHERN FUNDS MULTI-MANAGER FUNDS SUPPLEMENT DATED NOVEMBER 16, 2012 TO PROSPECTUS DATED JULY 31, 2012 Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:   <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="27%"></td> <td valign="bottom" width="3%"></td> <td width="22%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td></tr> <tr bgcolor="#000000"> <td valign="bottom" align="center">Fund</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Operating Expense Reduction </td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013</td></tr> <tr> <td valign="bottom"> <div style="margin-left:0.50em">Multi-Manager Emerging Markets Equity</div></td> <td valign="bottom">  </td> <td valign="top" align="center">1.40%</td> <td valign="bottom">  </td> <td valign="top" align="center">-0.05%</td> <td valign="bottom">  </td> <td valign="top" align="center">1.35%</td></tr> <tr> <td valign="bottom"> <div style="margin-left:0.50em">Multi-Manager Global Real Estate</div></td> <td valign="bottom">  </td> <td valign="top" align="center">1.20%</td> <td valign="bottom">  </td> <td valign="top" align="center">-0.10%</td> <td valign="bottom">  </td> <td valign="top" align="center">1.10%</td></tr> <tr> <td valign="bottom"> <div style="margin-left:0.50em">Multi-Manager Mid Cap</div></td> <td valign="bottom">  </td> <td valign="top" align="center">1.10%</td> <td valign="bottom">  </td> <td valign="top" align="center">-0.10%</td> <td valign="bottom">  </td> <td valign="top" align="center">1.00%</td></tr> <tr> <td valign="bottom"> <div style="margin-left:0.50em">Multi-Manager High Yield Opportunity</div></td> <td valign="bottom">  </td> <td valign="top" align="center">1.00%</td> <td valign="bottom">  </td> <td valign="top" align="center">-0.10%</td> <td valign="bottom">  </td> <td valign="top" align="center">0.90%</td></tr> </table> These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.   Please retain this Supplement with your Prospectus for future reference. PROSPECTUS SUPPLEMENT   NORTHERN FUNDS MULTI-MANAGER FUNDS SUPPLEMENT DATED NOVEMBER 16, 2012 TO PROSPECTUS DATED JULY 31, 2012 Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:   <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="27%"></td> <td valign="bottom" width="3%"></td> <td width="22%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td></tr> <tr bgcolor="#000000"> <td valign="bottom" align="center">Fund</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Operating Expense Reduction </td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013</td></tr><tr> <td valign="bottom"> <div style="margin-left:0.50em">Multi-Manager High Yield Opportunity</div></td> <td valign="bottom">  </td> <td valign="top" align="center">1.00%</td> <td valign="bottom">  </td> <td valign="top" align="center">-0.10%</td> <td valign="bottom">  </td> <td valign="top" align="center">0.90%</td></tr> </table> These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.   Please retain this Supplement with your Prospectus for future reference. PROSPECTUS SUPPLEMENT   NORTHERN FUNDS MULTI-MANAGER FUNDS SUPPLEMENT DATED NOVEMBER 16, 2012 TO PROSPECTUS DATED JULY 31, 2012 Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:   <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="27%"></td> <td valign="bottom" width="3%"></td> <td width="22%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td></tr> <tr bgcolor="#000000"> <td valign="bottom" align="center">Fund</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Operating Expense Reduction </td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013</td></tr><tr> <td valign="bottom"> <div style="margin-left:0.50em">Multi-Manager Mid Cap</div></td> <td valign="bottom">  </td> <td valign="top" align="center">1.10%</td> <td valign="bottom">  </td> <td valign="top" align="center">-0.10%</td> <td valign="bottom">  </td> <td valign="top" align="center">1.00%</td></tr> </table> These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.   Please retain this Supplement with your Prospectus for future reference. PROSPECTUS SUPPLEMENT   NORTHERN FUNDS MULTI-MANAGER FUNDS SUPPLEMENT DATED NOVEMBER 16, 2012 TO PROSPECTUS DATED JULY 31, 2012 Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:   <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="27%"></td> <td valign="bottom" width="3%"></td> <td width="22%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td></tr> <tr bgcolor="#000000"> <td valign="bottom" align="center">Fund</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Operating Expense Reduction </td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013</td></tr> <tr> <td valign="bottom"> <div style="margin-left:0.50em">Multi-Manager Emerging Markets Equity</div></td> <td valign="bottom">  </td> <td valign="top" align="center">1.40%</td> <td valign="bottom">  </td> <td valign="top" align="center">-0.05%</td> <td valign="bottom">  </td> <td valign="top" align="center">1.35%</td></tr></table> These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.   Please retain this Supplement with your Prospectus for future reference. PROSPECTUS SUPPLEMENT   NORTHERN FUNDS MULTI-MANAGER FUNDS SUPPLEMENT DATED NOVEMBER 16, 2012 TO PROSPECTUS DATED JULY 31, 2012 Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:   <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="27%"></td> <td valign="bottom" width="3%"></td> <td width="22%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td> <td valign="bottom" width="3%"></td> <td width="21%"></td></tr> <tr bgcolor="#000000"> <td valign="bottom" align="center">Fund</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement</td> <td valign="bottom">  </td> <td valign="bottom" align="center">Operating Expense Reduction </td> <td valign="bottom">  </td> <td valign="bottom" align="center">Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013</td></tr> <tr> <td valign="bottom"> <div style="margin-left:0.50em">Multi-Manager Global Real Estate</div></td> <td valign="bottom">  </td> <td valign="top" align="center">1.20%</td> <td valign="bottom">  </td> <td valign="top" align="center">-0.10%</td> <td valign="bottom">  </td> <td valign="top" align="center">1.10%</td></tr></table> These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.   Please retain this Supplement with your Prospectus for future reference. Other