Northern Institutional Funds Home Page

Featured Funds
	Updated Daily as of 05/07/08
	Money Market		Current 7-Day Yield	Effective 7-Day Yield

		Diversified Assets (BDAXX - 6/1/1983)	2.21%	2.23%
		Government Select (BGSXX - 11/7/1990)	1.90%	1.92%
		Municipal (NMUXX - 12/1/1999)	2.53%	2.57%
		All Money Market

Average Annual Return as of 03/31/08
Fixed Income		1-Year	5-Year	10-Year or Since Inception

	High Yield Fixed Income* (NHFIX - 12/31/1998)	(4.64)%	6.95%	4.92%
	Tax-Exempt (NOTEX - 4/1/1994)	1.35%	3.50%	4.57%
	Short Bond (BSBAX - 1/11/1993)	5.53%	3.26%	4.57%
	All Fixed Income
Average Annual Return as of 03/31/08
Equity		1-Year	5-Year	10-Year or Since Inception

	Global Real Estate Index* (NGREX - 7/26/2006)	(18.01)%	N/A	3.56%
	Enhanced Large Cap* (NOLCX - 12/16/2005)	(10.04)%	N/A	1.64%
	Small Cap Value (NOSGX - 4/1/1994)	(12.63)%	15.90%	7.39%
	All Equity

*Performance since inception.

View All Performance Details and Disclosure

View Annual Expense Ratios

Investment Update

NIF Balanced Portfolio Gets New Name and Investment Strategy
The Balanced Portfolio has been renamed the NIF Global Tactical Asset Allocation Portfolio and restructured as a multi-asset class allocation fund. Learn more

April 30, Orie L. Dudley Jr., Northern Trust's Chief Investment Officer held the quarterly Financial Market Update conference call. Read the Transcript

Replay of March 18th Institutional Investor Cash Market Investments Update Conference Call Now Available. Learn more

On February 21, 2008, Northern Trust Corporation entered into Capital Support Agreements with certain Northern Institutional Funds. Learn more

The NIF Quarterly Review as of December 31, 2007, is now available. This update includes manager commentary as well as performance information. Read the Quarterly Review.

Northern Strategy

Read the May 2008 Global Investment Strategy (PDF). This newsletter provides insights into political and economic developments in world financial markets.

To learn how Small Cap Value fund manager Robert H. Bergson and his team evaluate and pick stocks, watch the video featuring Bergson and Jeremy Baskin, head of quantitative active strategies. View the Video.



		Special Features

		Northern Institutional Fund prospectuses dated April 1, 2008 are now available. Review and download the latest prospectuses for all Equity, Fixed Income and Money Market portfolios.


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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. Performance would have been lower in the absence of fee waivers in effect.

An investment in the Money Market Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Money Market Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Money Market Funds.

Northern Funds

Not FDIC insured

May lose value

No bank guarantee

Shares of Northern Institutional Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.

Shares of the Northern Institutional Funds are offered only by a current Prospectus and are intended solely for persons to whom shares of U.S. registered funds may be sold. This site shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of shares of the Northern Institutional Funds in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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