Northern Trust Corp. set up a Web site Tuesday for its 23 no-load mutual funds that will offer on-line investing for the family this year.
The first phase of on-line investing in the funds for existing shareholders and other Northern clients will probably be available this summer, according to Jan Temple, vice president and national marketing director for the family. On-line acceptance of transfers from other institutions for investments in the funds is planned to begin in 2000, she added.
The site, www.northernfunds.com, invites requests for prospectuses and instructs existing shareholders to go through the usual means of making additional investments: mailing a check or money order, or transferring funds via wire. The site's pages detail the funds and their performances.
Northern manages $22 billion of assets in its two fund families, Northern Funds and Northern Institutional Funds.
The Chicago-based banking company's existing Web site, www.northerntrust.com, has on-line services for personal and small-business banking clients as well as corporate and institutional treasury management clients.