In Brief: Northern Trust Fund a First

July 27, 2006, 1:00 a.m. EDT 1 Min Read

Northern Trust Corp. on Wednesday announced its first global real estate index fund.

With the launch of the Northern Global Real Estate Index Fund, the Chicago banking company now offers 26 no-load products. The fund gives investors a way to diversify their portfolios beyond domestic real estate.

Northern Trust had $640 billion of assets under management at midyear.

The fund seeks to provide investment results that approximate the overall performance of securities included in the FTSE EPRA/NAREIT Global Real Estate Index. It will hold approximately 300 stocks from 21 countries.

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