NOITX

About NOITX

Northern Intermediate Tax-Exempt Fund is an actively managed municipal bond mutual fund designed to deliver a high level of current income that is exempt from regular federal income tax. The portfolio primarily invests in high-quality, investment-grade municipal securities and maintains a dollar‑weighted average maturity typically between three and ten years, positioning it in the intermediate segment of the muni curve. The strategy emphasizes relative value selection across issuers and sectors tied to public projects such as general obligations, essential services, transportation, and education, balancing income goals with interest rate and credit risk management. Managed within the Northern Funds family since its inception in 1994, the fund seeks conservative tax‑advantaged income for investors in higher tax brackets while accepting moderate duration exposure characteristic of intermediate muni portfolios. The fund’s approach and category placement align with the broader muni national intermediate cohort, which diversifies across states and localities to support public infrastructure financing while aiming for federally tax‑exempt distributions.