Liquidation: NORTHERN FUNDS

Form Type: 497

Filing Date: 2025-04-10

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525077987

Filing Summary: This document is a prospectus and statement of additional information supplement for the Northern Funds High Yield Municipal Fund and the U.S. Treasury Index Fund, dated April 10, 2025. It announces the liquidation and termination of both funds, and instructs that all references to these funds in the statutory prospectus and SAI are to be deleted. Investors are advised to retain this supplement for future reference.

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Form Type: 497

Filing Date: 2025-01-14

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525006257

Filing Summary: Northern Funds has filed a supplement dated January 14, 2025, regarding the U.S. Treasury Index Fund, which is undergoing a plan of liquidation. The Liquidation Date has been set for March 31, 2025. As part of the plan, the Fund will stop accepting new purchase orders after March 28, 2025. Shareholders are advised to redeem or exchange their shares before the Liquidation Date to avoid automatic liquidating distributions. Cash from the liquidation of the Fund's assets will be held in cash equivalent securities until the Liquidation Date, and distributions may be made prior to liquidation, which could have tax implications for shareholders. The Fund's officers retain the right to modify the liquidation plan, and the Board of the Trust may terminate the liquidation at any time before the set Liquidation Date. Shareholders are encouraged to consult tax professionals regarding potential tax consequences of their investments and the liquidation process.

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Form Type: 497K

Filing Date: 2025-01-14

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525006259

Filing Summary: Northern Funds has announced an update regarding the U.S. Treasury Index Fund in connection with its plan of liquidation. The Liquidation Date is set for March 31, 2025. From the close of business on March 28, 2025, the Fund will no longer accept orders for the purchase of shares or exchanges from other funds. Shareholders can redeem their shares at the Fund’s net asset value or exchange them for shares of another fund prior to the Liquidation Date. If shareholders do not take action by the Liquidation Date, they will receive a liquidating distribution in cash equal to their interest in the net assets of the Fund. Also, during the liquidation process, the Fund may hold excessive cash which may impact its investment strategies. Shareholders are advised to consult tax professionals regarding potential tax impacts of the liquidation, as distributions may incur capital gains or losses for taxation purposes. The pending liquidation can be adjusted at the discretion of the Fund's officers or the Board of the Trust before the Liquidation Date. The Supplement should be retained with existing fund documents for reference.

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