The investment management arm of Chicago-based Northern Trust Corp. is beefing up its mutual fund offerings.
Northern Trust Global Investments plans to add a small-cap growth fund and a tax-exempt money market fund for retail clients in September, said Arch King, vice president of product development.
These funds will be part of the $12 billion-asset Northern Funds family, which consists of 22 portfolios.
Northern Trust plans to add a small-cap growth fund and a municipal money market fund in October for institutional clients. These funds will be part of Northern Institutional Funds, a no-load family of 17 funds, which has $13 billion of assets under management.
The unit also said it has launched three collective funds for institutional clients in July and plans to roll out another one this month.