Northern Tax-Exempt Fund (NOTEX) a Zacks Rank #3 (Hold) was incepted in April 1994 and is managed by Northern Trust (NASDAQ:NTRS) Investments. NOTEX seeks to provide a high level of current income exempt from regular federal income tax by investing in municipal instruments. NOTEX's approach is to invest in a broad range of investment-grade municipal instruments with an average maturity of 10 and 30 years. In seeking high current income exempt from regular federal income tax, NOTEX may invest in a broad range of municipal instruments.
The Northern Tax-Exempt fund, managed by Northern, carries an expense ratio of 0.45%. Moreover, NOTEX requires a minimal initial investment of $2,500.
NOTEX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 3, 5 year benchmarks; 3 year 5.9% and 5 year 4.7%. To see how this fund performed compared in its category, and other #1 and #2 Ranked Mutual Funds, please click here.
NOTEX’s performance, as of the last filing, when compared to funds in its category was in the top 35% over the past 1 year, in the top 32% over the past 3 years, and in the 34% over the past 5 years.
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Zacks Investment Research