United Launch Alliance 401(k) Savings Plan PLAN NEWS Changes to Your Investment Options United Launch Alliance (ULA) regularly reviews the funds in the 401(k) Savings Plan to make sure they offer a combination of competitive long-term investment performance and reasonable fees. After the most recent fund review, ULA decided to replace several of the Plan funds, effective June 1, 2011. What investment funds are changing All six SSgA Lifecycle funds will be replaced with similar age-based funds from Northern Trust (NTGI Focus Funds) All of the passively managed index funds will be replaced with new index funds of the same type What investment funds are staying the same All current actively managed core funds will remain in the Plan The Self-Managed Account will continue to be an option for experienced investors These changes will become effective after 4:00 p.m. Eastern Time on May 31, 2011. The first trading day for the new funds will be June 1, 2011. New Beneficiary Tool You are now able to manage your Plan beneficiary elections with just a few clicks on the Plan website, instead of having to complete a paper form. Not contributing to the 401(k)? Time to start saving The revised fund lineup gives you a good excuse to enroll in the Plan and start saving for your future. It only takes a few minutes to enroll. First, decide how much of your eligible pay you d like to contribute. You can contribute a portion of your eligible pay, subject to the 2011 IRS limit of $16,500 in before-tax contributions plus an additional $5,500 in catch-up contributions if you are age 50 or older. Total contributions (including before-tax, after-tax and any company contribution) to the ULA 401(k) Savings Plan cannot exceed $49,000 in 2011. After you choose how much you want to contribute to the Plan, you will choose your investment mix. Go to https://ula401k.ingplans.com to enroll in the Plan. If you prefer, you can call the Information Line at (877) ULA-401K (877-852-4015) and follow the automated enrollment instructions or have a Customer Service Associate help you. See inside for details.
Your New Investment Options Effective after 4:00 p.m. ET May 31, 2011 Below is a listing of your new investment options. ULA believes these funds offer you better opportunities for long-term growth potential. The passively-managed core options and the Lifecycle funds are all new. The new funds are very similar to the funds they are replacing in objectives and risk level. You can invest in any combination of funds. Each Target Date Fund is designed as a complete, standalone diversified investment strategy. If you choose to invest in a Target Date Fund, it s recommended that you invest 100% of your savings into your selected fund. Or, if your expected retirement date is halfway between two targeted fund dates, you may want to split your investment 50/50 between the two funds. For additional information on the Target Date Funds, you can visit retirement.northerntrust.com. For details on the new funds, including investment objectives, risks, expenses and portfolio holdings, please see the enclosed fund fact sheet booklet or log on to the Plan website at https://ula401k.ingplans.com and select Fund Information from the Plan Investments page. Your New Fund Line-Up as of June 1, 2011 Target Date (Balanced Funds) NTGI Focus Income Fund NTGI Focus 2010 Fund NTGI Focus 2020 Fund NTGI Focus 2030 Fund NTGI Focus 2040 Fund NTGI Focus 2050 Fund Core Option Array (Passively Managed) NTGI Aggregate Bond Fund NTGI S&P 500 Fund NTGI Dow Jones US Completion Fund NTGI ACWI ex-us Index Fund Core Option Array (Actively Managed) Wells Fargo Stable Return Fund PIMCO Total Return Fund Intrinsic Value Fund American Funds Growth Fund of America Fund Lord Abbett Small Cap Blend Fund American Funds EuroPacific Growth Fund Type of Fund Income Target Date (for those in or very near retirement) 2010 Retirement Target Date (for those near retirement) 2020 Retirement Target Date 2030 Retirement Target Date 2040 Retirement Target Date 2050 Retirement Target Date Core Fixed Income Large Cap Core Equity Small Cap Equity International Equity Stable Return Core Plus Fixed Income Large Cap Value Equity Large Cap Growth Equity Small/Mid Cap Core Equity International Equity Brokerage Window Self-Managed Account United Launch Alliance 401(k) Plan https://ula401k.ingplans.com (877) ULA-401K (877-852-4015)
Transferring Money into the New Funds All money currently invested and all future contributions designated to be invested in the funds being replaced will automatically transfer into new funds through a process called mapping, as shown in the table below. You do not have to take any action. This transfer will take place automatically on May 31, 2011. You will continue to have full access to your account throughout the mapping process. Starting on June 1, 2011, you can transfer your current balances to any combination of funds, change how your future contributions are invested, or simply leave your money and contribution elections in the mapped funds as shown below. This Current Fund Maps To This New Fund SSgA Lifecycle Income Fund SSgA Lifecycle 2010 Fund SSgA Lifecycle 2020 Fund SSgA Lifecycle 2030 Fund SSgA Lifecycle 2040 Fund SSgA Lifecycle 2050 Fund SSgA Passive Bond Market Fund SSgA S&P 500 Index Fund SSgA U.S. Extended Markets Index Fund SSgA Daily EAFE Index Fund NTGI Focus Income Fund NTGI Focus 2010 Fund NTGI Focus 2020 Fund NTGI Focus 2030 Fund NTGI Focus 2040 Fund NTGI Focus 2050 Fund NTGI Aggregate Bond Fund NTGI S&P 500 Fund NTGI Dow Jones US Completion Fund NTGI ACWI ex-us Fund Easy Online Beneficiary Management Your beneficiary is the person who will receive the value of your 401(k) account if you die before receiving it. So it s important to make sure you ve always got the right person or persons designated. Now you can elect or change your beneficiary in seconds on the Plan website. No need to complete and return paper forms. After you log on to your account at https://ula401k.ingplans.com, go to My Account and under Personal Information select Beneficiary Information. Follow the easy online instructions to make changes. You can log on at any time to change your beneficiary. If you are married and designating anyone other than your spouse as a primary beneficiary, you must print and fill out the Beneficiary Form located in the Forms section on the top navigation bar and have your spouse s consent notarized. If you do not complete and submit the form, the designation of anyone other than your spouse as a primary beneficiary will be deemed invalid. We encourage you to keep your beneficiary elections up-to-date so you can control how your retirement money gets distributed particularly if you ve recently experienced a change in family status, such as a divorce, marriage or the birth of a child. Questions? If you have questions about how these changes may affect your account, please contact a Customer Service Associate by calling the Information Line at (877) ULA-401K (877-852-4015), Monday through Friday, from 8:00 a.m. to 8:00 p.m. Eastern time (7:00 a.m. to 7:00 p.m. Central time; 6:00 a.m. to 6:00 p.m. Mountain time; 5:00 a.m. to 5:00 p.m. Pacific time), except on New York Exchange holidays.
Investment Advice and Managed Account Services With the ING Advisor Service*, you can get personalized, objective investment and retirement planning advice through two levels of service: the Personal Online Advisor or the Professional Account Manager. Personal Online Advisor This easy-to-use retirement planning Web-based service, powered by Financial Engines, is designed for individuals who prefer to manage their own retirement account(s). Personal Online Advisor offers: Personalized retirement forecasts and risk assessments Step-by-step instructions that include savings and specific fund recommendations Access to the Personal Online Advisor is available 24/7 to all plan participants. Professional Account Manager With the Professional Account Manager program, powered by Financial Engines, professionals select a personalized mix of funds appropriate for you, out of the funds available in the plan. This program provides: Personalized advice, forecasts and one-on-one support Ongoing account management Quarterly progress reports Professional Account Manager is available for an additional fee. To learn more about these services or to complete a no-obligation retirement assessment, call the Information Line at (877) ULA-401K (877-852-4015). ING Investment Advisors are available from 8:00 a.m. to 8:00 p.m. Eastern Time. Make Sure Your Portfolio is Diversified Now is a good time to make sure you are invested in a diversified mix of funds that matches your long-term investment goals and your risk tolerance. A diversified portfolio will contain a number of funds covering different asset classes, or types of investments, such as U.S. and foreign stocks, bonds and stable value investments. Since different investment types often take turns at the top of the performance charts, diversification may help smooth out some of the market s ups and downs. You have three ways to create a diversified portfolio: 1. Pick your date. Simply select one of the Plan s Target Date Funds. Each Target Date Fund is a fully diversified investment portfolio. Simply select the fund with the year closest to your expected retirement year and put all of your savings into that one fund. 2. Mix your own. Choose from any combination of the Plan s funds. If you select a mix of individual funds, remember to review your fund mix on a regular basis to make sure it stays balanced, diversified and focused on your investment goals. 3. Hire a Pro. Sign up for the ING Advisor Service* Professional Account Manager program and a team of professionals will design your investment portfolio, choosing from the funds available in the Plan. This personalized service is a valuable benefit regardless of how much or how little you ve saved. Make Sure You Are Contributing as Much as You Can If you are an active employee, the ULA 401(k) Savings Plan allows you to contribute a portion of your eligible pay subject to the 2011 IRS limit of $16,500 in before-tax contributions. Today might be a good time to increase your contribution rate and save even more for your future. If you are age 50 or older, you can contribute an additional $5,500 in catch-up contributions. Total contributions (including before-tax, after-tax and any company contributions) to the ULA 401(k) Savings Plan cannot exceed $49,000 in 2011. *Advisory Services provided by ING Investment Advisors, LLC for which Financial Engines Advisors, LLC acts as sub advisor. ING Investment Advisors does not give tax or legal advice. If you need tax advice, consult your accountant or lawyer, if you need legal advice, consult your lawyer. For more information about the ING Advisor Service, please read the ING Investment Advisors Disclosure Statement. A Disclosure Statement may be viewed online by accessing the ING Advisor Service link through your Plan s Web site at https://ula401k.ingplans.com. You may also request a Disclosure Statement from an ING Investment Advisor by calling your Plan's Information Line at 877-852-4015. Financial Engines Advisors, LLC is not a corporate affiliate of ING Investment Advisors, LLC or ING Institutional Plan Services, LLC. 09IAS-10-007 C10-0831-003 (11/10) ULAFundChangeNL 4.11
FUND FACTS Quarter Ending March 31, 2011 NORTHERN TRUST FOCUS INCOME FUND TM A target retirement date fund that provides an asset allocation for people already retired What it is A target retirement date investment option provided through a collective trust fund that is available only to qualified retirement plans. This is not a mutual fund. TARGETED ASSET ALLOCATION s 21.00% 17.00% Goal A target retirement date fund that provides an asset allocation for people already retired. What it invests in The Fund invests in a broadly diversified portfolio of primarily passive investment funds comprised of U.S. and international stocks, securities that act as a hedge against inflation, U.S. bonds and U.S. Government cash reserves. The investment risks of each target retirement date fund change over time as its allocation changes. These funds are subject to the volatility of the financial markets including equity and fixed income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates. Unit price and return will vary. HOLDINGS (% of Portfolio) as of April 1, 2011 20.95 % Northern Trust Collective S&P 500 Index Fund - Non Lending 9.95% Northern Trust Collective S&P 400 Index Fund - Non Lending 1.50% Northern Trust Collective Russell 2000 Index Fund - Non Lending 1.00% U.S. 12.45% Northern Trust Collective EAFE Index Fund - Non Lending 8.50% Northern Trust Collective Emerging Markets Index Fund - Non Lending 0.00% International 8.50% 16.94% Northern Trust Collective Global Real Estate Index Fund - Non Lending 4.99% ipath Dow Jones UBS Commodity Index Total Return ETN 0.00% Northern Trust Collective TIPS Index Fund - Non Lending 11.95% Bond 56.91% Northern Trust Collective High Yield Fund 6.95% Northern Trust Collective Aggregate Bond Index Fund - Non Lending 49.96% Cash Reserves 5.20% Northern Trust Collective Government Short Term Investment Fund 5.20% Cash Reserves 5.00% Bonds 57.00% The asset allocation shown on the pie chart above reflects the portfolio s approximate targeted asset allocation under normal market conditions between rebalancings. Asset allocation does not guarantee a profit, nor does it protect against loss. Note: Fund holdings and asset allocation are subject to change. PORTFOLIO CHARACTERISTICS as of March 31, 2011 Inception Date: October 16, 2009 Investment Management Expense NTGI 0.15% Agent Revenue Sharing Expense Recordkeeper: 0.25% Combined Expense: 0.40% Investment management expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the reverse side. Average Weighted Market Capitalization $71,134.07 million Trailing Price/Earnings Ratio 15.61 Price/Book Ratio 1.94 Bond Average Duration 5.42 years Average Coupon 4.54% Average Credit Quality AA (NTGI) is a global multiasset class investment manager serving clients worldwide. NTGI brings together the resources of The Northern Trust Company, Northern Trust Investments, Inc., Northern Trust Global Advisors, Inc. and other affiliates to offer investment products and services to personal and institutional markets.
NORTHERN TRUST FOCUS INCOME FUND TM Quarter Ending March 31, 2011 The Northern Trust Focus Funds Glidepath (subject to change) 100% 90% Cash % of Portfolio 80% 70% 60% 50% 40% 30% 20% Bond FOCUS INCOME FUND TARGET ALLOCATION Expanded asset classes result in portfolios designed to deliver greater return potential for the amount of risk taken. The glidepath becomes more conservative over time, which helps provide lower volatility to the overall portfolio. 10% 0% <25 30 35 40 45 50 55 60 65 70 >75 Participant Age Initially, the and allocations total 85% to maximize wealth accumulation in early saving years. Bond and Cash allocations increase over time to add stability and generate income necessary in retirement years. FUND TRAILING TOTAL RETURNS FOR PERIODS ENDING March 31, 2011 Quarter YTD 1-Year Since Inception as of November 1, 2009 Northern Trust Focus Income Fund 1.98% 1.98% 8.81% 9.41% Focus Income Benchmark 2.06% 2.06% 9.12% 9.91% The performance information shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance information shown. Performance is shown net of investment management and agent revenue sharing expenses. These expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the above. The Northern Trust Focus Fund Benchmark is a weighted index for each Northern Trust Focus fund comprised of the S&P 500 Index, the S&P 400 MidCap Index, the Russell 2000 Index, the MSCI EAFE Index, the MSCI Emerging Markets Index, the FTSE EPRA/NAREIT Global Index, the Dow Jones-UBS Commodity Index, the Barclays Capital US TIPS Index, the Barclays Capital US Aggregate Index, the Barclays Capital US Corporate High Yield 2% Issuer Capped Bond Index and the BofA Merrill Lynch 3-month U.S. Treasury Bill Index. Each index is weighted at the appropriate strategic neutral allocation of its respective asset class, which is predetermined and changes over time. These benchmark rates of return should not be considered as exact replications of any particular asset class, security or strategy returns, but rather as an approximation for illustrative purposes. Direct investment in an index is not possible and does not reflect an actual portfolio's investment results. This is for your information only and does not constitute investment advice, a recommendation to buy or sell any security or to invest in any strategy and is subject to change without notice. Information contained herein is current as of the date appearing in this material only and is subject to change without notice. The Northern Trust Focus Funds are collective investment funds maintained by NTI as trustee. These are bank collective funds, not mutual funds. As provided in each Fund's declaration of trust, the Funds are available for investment by qualified and governmental retirement plans. Various asset classes of the underlying funds, such as small-cap and international equities may carry additional risks. Principal value and investment return will fluctuate, so that a participant's units when redeemed may be worth more or less than the original investment. Fund portfolio statistics change over time. The information provided herein is obtained from sources deemed to be reliable, however, its accuracy cannot be guaranteed. Information was provided by. The plan recordkeeper is not responsible for its content. Not FDIC insured May lose value No bank guarantee 50 South La Salle Street Chicago, Illinois 60603
FUND FACTS Quarter Ending March 31, 2011 NORTHERN TRUST FOCUS 2010 FUND TM A target retirement date fund that provides an asset allocation for people planning to retire between 2008 and 2012 What it is A target retirement date investment option provided through a collective trust fund that is available only to qualified retirement plans. This is not a mutual fund. Goal A target retirement date fund that provides an asset allocation for people planning to retire between 2008 and 2012. Over time, the asset allocation becomes more conservative as the fund approaches its target date. Approximately ten years after the fund reaches its target date, the targeted asset allocation is estimated to be 21% in stocks, 17% in inflation-hedge securities, 57% in bonds and 5% in cash reserves. Eventually, the fund merges with the Focus Income Fund. TARGETED ASSET ALLOCATION s 34.63% Cash Reserves 3.71% 15.46% Bonds 46.20% What it invests in The Fund invests in a broadly diversified portfolio of primarily passive investment funds comprised of U.S. and international stocks, securities that act as a hedge against inflation, U.S. bonds and U.S. Government cash reserves. The investment risks of each target retirement date fund change over time as its allocation changes. These funds are subject to the volatility of the financial markets including equity and fixed income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates. Unit price and return will vary. HOLDINGS (% of Portfolio) as of April 1, 2011 34.66 % Northern Trust Collective S&P 500 Index Fund - Non Lending 16.27% Northern Trust Collective S&P 400 Index Fund - Non Lending 2.52% Northern Trust Collective Russell 2000 Index Fund - Non Lending 1.77% U.S. 20.56% Northern Trust Collective EAFE Index Fund - Non Lending 12.02% Northern Trust Collective Emerging Markets Index Fund - Non Lending 2.08% International 14.10% 15.46% Northern Trust Collective Global Real Estate Index Fund - Non Lending 4.99% ipath Dow Jones UBS Commodity Index Total Return ETN 1.03% Northern Trust Collective TIPS Index Fund - Non Lending 9.44% Bond 46.16% Northern Trust Collective High Yield Fund 6.49% Northern Trust Collective Aggregate Bond Index Fund - Non Lending 39.67% Cash Reserves 3.72% Northern Trust Collective Government Short Term Investment Fund 3.72% The asset allocation shown on the pie chart above reflects the portfolio s approximate targeted asset allocation under normal market conditions between rebalancings. Asset allocation does not guarantee a profit, nor does it protect against loss. Note: Fund holdings and asset allocation are subject to change. PORTFOLIO CHARACTERISTICS as of March 31, 2011 Inception Date: October 16, 2009 Investment Management Expense NTGI 0.15% Agent Revenue Sharing Expense Recordkeeper: 0.25% Combined Expense: 0.40% Investment management expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the reverse side. Average Weighted Market Capitalization $68,304.01 million Trailing Price/Earnings Ratio 15.55 Price/Book Ratio 1.93 Bond Average Duration 5.38 years Average Coupon 4.44% Average Credit Quality AA (NTGI) is a global multiasset class investment manager serving clients worldwide. NTGI brings together the resources of The Northern Trust Company, Northern Trust Investments, Inc., Northern Trust Global Advisors, Inc. and other affiliates to offer investment products and services to personal and institutional markets.
NORTHERN TRUST FOCUS 2010 FUND TM Quarter Ending March 31, 2011 The Northern Trust Focus Funds Glidepath (subject to change) 100% 90% Cash % of Portfolio 80% 70% 60% 50% 40% 30% 20% 10% Fixed Income 2010 FUND TARGET ALLOCATION Expanded asset classes result in portfolios designed to deliver greater return potential for the amount of risk taken. The glidepath becomes more conservative over time, which helps provide lower volatility to the overall portfolio. 0% <25 30 35 40 45 50 55 60 65 70 >75 Participant Age Initially, the and allocations total 85% to maximize wealth accumulation in early saving years. Fixed Income and Cash allocations increase over time to add stability and generate income necessary in retirement years. FUND TRAILING TOTAL RETURNS FOR PERIODS ENDING March 31, 2011 Quarter YTD 1-Year Since Inception as of November 1, 2009 Northern Trust Focus 2010 Fund 2.74% 2.74% 10.76% 12.09% Focus 2010 Benchmark 2.80% 2.80% 11.04% 12.56% The performance information shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance information shown. Performance is shown net of investment management and agent revenue sharing expenses. These expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the above. The Northern Trust Focus Fund Benchmark is a weighted index for each Northern Trust Focus fund comprised of the S&P 500 Index, the S&P 400 MidCap Index, the Russell 2000 Index, the MSCI EAFE Index, the MSCI Emerging Markets Index, the FTSE EPRA/NAREIT Global Index, the Dow Jones-UBS Commodity Index, the Barclays Capital US TIPS Index, the Barclays Capital US Aggregate Index, the Barclays Capital US Corporate High Yield 2% Issuer Capped Bond Index and the BofA Merrill Lynch 3-month U.S. Treasury Bill Index. Each index is weighted at the appropriate strategic neutral allocation of its respective asset class, which is predetermined and changes over time. These benchmark rates of return should not be considered as exact replications of any particular asset class, security or strategy returns, but rather as an approximation for illustrative purposes. Direct investment in an index is not possible and does not reflect an actual portfolio's investment results. This is for your information only and does not constitute investment advice, a recommendation to buy or sell any security or to invest in any strategy and is subject to change without notice. Information contained herein is current as of the date appearing in this material only and is subject to change without notice. The Northern Trust Focus Funds are collective investment funds maintained by NTI as trustee. These are bank collective funds, not mutual funds. As provided in each Fund's declaration of trust, the Funds are available for investment by qualified and governmental retirement plans. Various asset classes of the underlying funds, such as small-cap and international equities may carry additional risks. Principal value and investment return will fluctuate, so that a participant's units when redeemed may be worth more or less than the original investment. Fund portfolio statistics change over time. The information provided herein is obtained from sources deemed to be reliable, however, its accuracy cannot be guaranteed. Information was provided by. The plan recordkeeper is not responsible for its content. Not FDIC insured May lose value No bank guarantee 50 South La Salle Street Chicago, Illinois 60603
FUND FACTS Quarter Ending March 31, 2011 NORTHERN TRUST FOCUS 2020 FUND TM A target retirement date fund that provides an asset allocation for people planning to retire between 2018 and 2022 What it is A target retirement date investment option provided through a collective trust fund that is available only to qualified retirement plans. This is not a mutual fund. Goal A target retirement date fund that provides an asset allocation for people planning to retire between 2018 and 2022. Over time, the asset allocation becomes more conservative as the fund approaches its target date. Approximately ten years after the fund reaches its target date, the targeted asset allocation is estimated to be 21% in stocks, 17% in inflation-hedge securities, 57% in bonds and 5% in cash reserves. Eventually, the fund merges with the Focus Income Fund. What it invests in The Fund invests in a broadly diversified portfolio of primarily passive investment funds comprised of U.S. and international stocks, securities that act as a hedge against inflation, U.S. bonds and U.S. Government cash reserves. The investment risks of each target retirement date fund change over time as its allocation changes. These funds are subject to the volatility of the financial markets including equity and fixed income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates. Unit price and return will vary. HOLDINGS (% of Portfolio) as of April 1, 2011 49.82 % Northern Trust Collective S&P 500 Index Fund - Non Lending 23.24% Northern Trust Collective S&P 400 Index Fund - Non Lending 3.67% Northern Trust Collective Russell 2000 Index Fund - Non Lending 2.63% U.S. 29.54% Northern Trust Collective EAFE Index Fund - Non Lending 15.89% Northern Trust Collective Emerging Markets Index Fund - Non Lending 4.39% International 20.28% 13.74% Northern Trust Collective Global Real Estate Index Fund - Non Lending 5.00% ipath Dow Jones UBS Commodity Index Total Return ETN 2.17% Northern Trust Collective TIPS Index Fund - Non Lending 6.57% Bond 34.16% Northern Trust Collective High Yield Fund 5.91% Northern Trust Collective Aggregate Bond Index Fund - Non Lending 28.25% Cash Reserves 2.28% Northern Trust Collective Government Short Term Investment Fund 2.28% TARGETED ASSET ALLOCATION s 49.77% 13.74% Bonds 34.20% Cash Reserves 2.29% The asset allocation shown on the pie chart above reflects the portfolio s approximate targeted asset allocation under normal market conditions between rebalancings. Asset allocation does not guarantee a profit, nor does it protect against loss. Note: Fund holdings and asset allocation are subject to change. PORTFOLIO CHARACTERISTICS as of March 31, 2011 Inception Date: October 16, 2009 Investment Management Expense NTGI 0.15% Agent Revenue Sharing Expense Recordkeeper: 0.25% Combined Expense: 0.40% Investment management expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the reverse side. Average Weighted Market Capitalization $67,095.42 million Trailing Price/Earnings Ratio 15.52 Price/Book Ratio 1.92 Bond Average Duration 5.34 years Average Coupon 4.32% Average Credit Quality AA (NTGI) is a global multiasset class investment manager serving clients worldwide. NTGI brings together the resources of The Northern Trust Company, Northern Trust Investments, Inc., Northern Trust Global Advisors, Inc. and other affiliates to offer investment products and services to personal and institutional markets.
NORTHERN TRUST FOCUS 2020 FUND TM Quarter Ending March 31, 2011 The Northern Trust Focus Funds Glidepath (subject to change) 100% 90% Cash % of Portfolio 80% 70% 60% 50% 40% 30% 20% 10% 2020 FUND TARGET ALLOCATION Fixed Income Expanded asset classes result in portfolios designed to deliver greater return potential for the amount of risk taken. The glidepath becomes more conservative over time, which helps provide lower volatility to the overall portfolio. 0% <25 30 35 40 45 50 55 60 65 70 >75 Participant Age Initially, the and allocations total 85% to maximize wealth accumulation in early saving years. Fixed Income and Cash allocations increase over time to add stability and generate income necessary in retirement years. FUND TRAILING TOTAL RETURNS FOR PERIODS ENDING March 31, 2011 Quarter YTD 1-Year Since Inception as of November 1, 2009 Northern Trust Focus 2020 Fund 3.46% 3.46% 12.54% 14.60% Focus 2020 Benchmark 3.54% 3.54% 12.89% 15.13% The performance information shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance information shown. Performance is shown net of investment management and agent revenue sharing expenses. These expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the above. The Northern Trust Focus Fund Benchmark is a weighted index for each Northern Trust Focus fund comprised of the S&P 500 Index, the S&P 400 MidCap Index, the Russell 2000 Index, the MSCI EAFE Index, the MSCI Emerging Markets Index, the FTSE EPRA/NAREIT Global Index, the Dow Jones-UBS Commodity Index, the Barclays Capital US TIPS Index, the Barclays Capital US Aggregate Index, the Barclays Capital US Corporate High Yield 2% Issuer Capped Bond Index and the BofA Merrill Lynch 3-month U.S. Treasury Bill Index. Each index is weighted at the appropriate strategic neutral allocation of its respective asset class, which is predetermined and changes over time. These benchmark rates of return should not be considered as exact replications of any particular asset class, security or strategy returns, but rather as an approximation for illustrative purposes. Direct investment in an index is not possible and does not reflect an actual portfolio's investment results. This is for your information only and does not constitute investment advice, a recommendation to buy or sell any security or to invest in any strategy and is subject to change without notice. Information contained herein is current as of the date appearing in this material only and is subject to change without notice. The Northern Trust Focus Funds are collective investment funds maintained by NTI as trustee. These are bank collective funds, not mutual funds. As provided in each Fund's declaration of trust, the Funds are available for investment by qualified and governmental retirement plans. Various asset classes of the underlying funds, such as small-cap and international equities may carry additional risks. Principal value and investment return will fluctuate, so that a participant's units when redeemed may be worth more or less than the original investment. Fund portfolio statistics change over time. The information provided herein is obtained from sources deemed to be reliable, however, its accuracy cannot be guaranteed. Information was provided by. The plan recordkeeper is not responsible for its content. Not FDIC insured May lose value No bank guarantee 50 South La Salle Street Chicago, Illinois 60603
FUND FACTS Quarter Ending March 31, 2011 NORTHERN TRUST FOCUS 2030 FUND TM A target retirement date fund that provides an asset allocation for people planning to retire between 2028 and 2032 What it is A target retirement date investment option provided through a collective trust fund that is available only to qualified retirement plans. This is not a mutual fund. Goal A target retirement date fund that provides an asset allocation for people planning to retire between 2028 and 2032. Over time, the asset allocation becomes more conservative as the fund approaches its target date. Approximately ten years after the fund reaches its target date, the targeted asset allocation is estimated to be 21% in stocks, 17% in inflation-hedge securities, 57% in bonds and 5% in cash reserves. Eventually, the fund merges with the Focus Income Fund. What it invests in The Fund invests in a broadly diversified portfolio of primarily passive investment funds comprised of U.S. and international stocks, securities that act as a hedge against inflation, U.S. bonds and U.S. Government cash reserves. The investment risks of each target retirement date fund change over time as its allocation changes. These funds are subject to the volatility of the financial markets including equity and fixed income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates. Unit price and return will vary. HOLDINGS (% of Portfolio) as of April 1, 2011 64.97 % Northern Trust Collective S&P 500 Index Fund - Non Lending 30.23% Northern Trust Collective S&P 400 Index Fund - Non Lending 4.81% Northern Trust Collective Russell 2000 Index Fund - Non Lending 3.49% U.S. 38.53% Northern Trust Collective EAFE Index Fund - Non Lending 19.74% Northern Trust Collective Emerging Markets Index Fund - Non Lending 6.70% International 26.44% 12.01% Northern Trust Collective Global Real Estate Index Fund - Non Lending 5.00% ipath Dow Jones UBS Commodity Index Total Return ETN 3.31% Northern Trust Collective TIPS Index Fund - Non Lending 3.70% Bond 22.16% Northern Trust Collective High Yield Fund 5.33% Northern Trust Collective Aggregate Bond Index Fund - Non Lending 16.83% Cash Reserves 0.86% Northern Trust Collective Government Short Term Investment Fund 0.86% TARGETED ASSET ALLOCATION s 64.92% 12.02% Bonds 22.20% Cash Reserves 0.86% The asset allocation shown on the pie chart above reflects the portfolio s approximate targeted asset allocation under normal market conditions between rebalancings. Asset allocation does not guarantee a profit, nor does it protect against loss. Note: Fund holdings and asset allocation are subject to change. PORTFOLIO CHARACTERISTICS as of March 31, 2011 Inception Date: October 16, 2009 Investment Management Expense NTGI 0.15% Agent Revenue Sharing Expense Recordkeeper: 0.25% Combined Expense: 0.40% Investment management expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the reverse side. Average Weighted Market Capitalization $66,425.09 million Trailing Price/Earnings Ratio 15.51 Price/Book Ratio 1.92 Bond Average Duration 5.31 years Average Coupon 4.17% Average Credit Quality A (NTGI) is a global multiasset class investment manager serving clients worldwide. NTGI brings together the resources of The Northern Trust Company, Northern Trust Investments, Inc., Northern Trust Global Advisors, Inc. and other affiliates to offer investment products and services to personal and institutional markets.
NORTHERN TRUST FOCUS 2030 FUND TM Quarter Ending March 31, 2011 The Northern Trust Focus Funds Glidepath (subject to change) 100% 90% Cash % of Portfolio 80% 70% 60% 50% 40% 30% 20% 10% 2030 FUND TARGET ALLOCATION Bond Expanded asset classes result in portfolios designed to deliver greater return potential for the amount of risk taken. The glidepath becomes more conservative over time, which helps provide lower volatility to the overall portfolio. 0% <25 30 35 40 45 50 55 60 65 70 >75 Participant Age Initially, the and allocations total 85% to maximize wealth accumulation in early saving years. Bond and Cash allocations increase over time to add stability and generate income necessary in retirement years. FUND TRAILING TOTAL RETURNS FOR PERIODS ENDING March 31, 2011 Quarter YTD 1-Year Since Inception as of November 1, 2009 Northern Trust Focus 2030 Fund 4.20% 4.20% 14.28% 17.12% Focus 2030 Benchmark 4.28% 4.28% 14.67% 17.66% The performance information shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance information shown. Performance is shown net of investment management and agent revenue sharing expenses. These expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the above. The Northern Trust Focus Fund Benchmark is a weighted index for each Northern Trust Focus fund comprised of the S&P 500 Index, the S&P 400 MidCap Index, the Russell 2000 Index, the MSCI EAFE Index, the MSCI Emerging Markets Index, the FTSE EPRA/NAREIT Global Index, the Dow Jones-UBS Commodity Index, the Barclays Capital US TIPS Index, the Barclays Capital US Aggregate Index, the Barclays Capital US Corporate High Yield 2% Issuer Capped Bond Index and the BofA Merrill Lynch 3-month U.S. Treasury Bill Index. Each index is weighted at the appropriate strategic neutral allocation of its respective asset class, which is predetermined and changes over time. These benchmark rates of return should not be considered as exact replications of any particular asset class, security or strategy returns, but rather as an approximation for illustrative purposes. Direct investment in an index is not possible and does not reflect an actual portfolio's investment results. This is for your information only and does not constitute investment advice, a recommendation to buy or sell any security or to invest in any strategy and is subject to change without notice. Information contained herein is current as of the date appearing in this material only and is subject to change without notice. The Northern Trust Focus Funds are collective investment funds maintained by NTI as trustee. These are bank collective funds, not mutual funds. As provided in each Fund's declaration of trust, the Funds are available for investment by qualified and governmental retirement plans. Various asset classes of the underlying funds, such as small-cap and international equities may carry additional risks. Principal value and investment return will fluctuate, so that a participant's units when redeemed may be worth more or less than the original investment. Fund portfolio statistics change over time. The information provided herein is obtained from sources deemed to be reliable, however, its accuracy cannot be guaranteed. Information was provided by. The plan recordkeeper is not responsible for its content. Not FDIC insured May lose value No bank guarantee 50 South La Salle Street Chicago, Illinois 60603
FUND FACTS Quarter Ending March 31, 2011 NORTHERN TRUST FOCUS 2040 FUND TM A target retirement date fund that provides an asset allocation for people planning to retire between 2038 and 2042 What it is A target retirement date investment option provided through a collective trust fund that is available only to qualified retirement plans. This is not a mutual fund. Goal A target retirement date fund that provides an asset allocation for people planning to retire between 2038 and 2042. Over time, the asset allocation becomes more conservative as the fund approaches its target date. Approximately ten years after the fund reaches its target date, the targeted asset allocation is estimated to be 21% in stocks, 17% in inflation-hedge securities, 57% in bonds and 5% in cash reserves. Eventually, the fund merges with the Focus Income Fund. TARGETED ASSET ALLOCATION s 74.00% 11.00% Bonds 15.00% What it invests in The Fund invests in a broadly diversified portfolio of primarily passive investment funds comprised of U.S. and international stocks, securities that act as a hedge against inflation, U.S. bonds and U.S. Government cash reserves. The investment risks of each target retirement date fund change over time as its allocation changes. These funds are subject to the volatility of the financial markets including equity and fixed income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates. Unit price and return will vary. HOLDINGS (% of Portfolio) as of April 1, 2011 74.05 % Northern Trust Collective S&P 500 Index Fund - Non Lending 34.42% Northern Trust Collective S&P 400 Index Fund - Non Lending 5.49% Northern Trust Collective Russell 2000 Index Fund - Non Lending 3.99% U.S. 43.90% Northern Trust Collective EAFE Index Fund - Non Lending 22.08% Northern Trust Collective Emerging Markets Index Fund - Non Lending 8.07% International 30.15% 10.98% Northern Trust Collective Global Real Estate Index Fund - Non Lending 5.00% ipath Dow Jones UBS Commodity Index Total Return ETN 3.99% Northern Trust Collective TIPS Index Fund - Non Lending 1.99% Bond 14.97% Northern Trust Collective High Yield Fund 4.99% Northern Trust Collective Aggregate Bond Index Fund - Non Lending 9.98% Cash Reserves 0.00% Northern Trust Collective Government Short Term Investment Fund 0.00% The asset allocation shown on the pie chart above reflects the portfolio s approximate targeted asset allocation under normal market conditions between rebalancings. Asset allocation does not guarantee a profit, nor does it protect against loss. Note: Fund holdings and asset allocation are subject to change. PORTFOLIO CHARACTERISTICS as of March 31, 2011 Inception Date: October 16, 2009 Investment Management Expense NTGI 0.15% Agent Revenue Sharing Expense Recordkeeper: 0.25% Combined Expense: 0.40% Investment management expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the reverse side. Average Weighted Market Capitalization $66,190.66 million Trailing Price/Earnings Ratio 15.50 Price/Book Ratio 1.92 Bond Average Duration 5.29 years Average Coupon 4.04% Average Credit Quality A (NTGI) is a global multiasset class investment manager serving clients worldwide. NTGI brings together the resources of The Northern Trust Company, Northern Trust Investments, Inc., Northern Trust Global Advisors, Inc. and other affiliates to offer investment products and services to personal and institutional markets.
NORTHERN TRUST FOCUS 2040 FUND TM Quarter Ending March 31, 2011 The Northern Trust Focus Funds Glidepath (subject to change) 100% 90% Cash % of Portfolio 80% 70% 60% 50% 40% 30% 20% 10% 2040 FUND TARGET ALLOCATION Fixed Income Expanded asset classes result in portfolios designed to deliver greater return potential for the amount of risk taken. The glidepath becomes more conservative over time, which helps provide lower volatility to the overall portfolio. 0% <25 30 35 40 45 50 55 60 65 70 >75 Participant Age Initially, the and allocations total 85% to maximize wealth accumulation in early saving years. Fixed Income and Cash allocations increase over time to add stability and generate income necessary in retirement years. FUND TRAILING TOTAL RETURNS FOR PERIODS ENDING March 31, 2011 Quarter YTD 1-Year Since Inception as of November 1, 2009 Northern Trust Focus 2040 Fund 4.56% 4.56% 15.15% 18.34% Focus 2040 Benchmark 4.66% 4.66% 15.52% 18.86% The performance information shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance information shown. Performance is shown net of investment management and agent revenue sharing expenses. These expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the above. The Northern Trust Focus Fund Benchmark is a weighted index for each Northern Trust Focus fund comprised of the S&P 500 Index, the S&P 400 MidCap Index, the Russell 2000 Index, the MSCI EAFE Index, the MSCI Emerging Markets Index, the FTSE EPRA/NAREIT Global Index, the Dow Jones-UBS Commodity Index, the Barclays Capital US TIPS Index, the Barclays Capital US Aggregate Index, the Barclays Capital US Corporate High Yield 2% Issuer Capped Bond Index and the BofA Merrill Lynch 3-month U.S. Treasury Bill Index. Each index is weighted at the appropriate strategic neutral allocation of its respective asset class, which is predetermined and changes over time. These benchmark rates of return should not be considered as exact replications of any particular asset class, security or strategy returns, but rather as an approximation for illustrative purposes. Direct investment in an index is not possible and does not reflect an actual portfolio's investment results. This is for your information only and does not constitute investment advice, a recommendation to buy or sell any security or to invest in any strategy and is subject to change without notice. Information contained herein is current as of the date appearing in this material only and is subject to change without notice. The Northern Trust Focus Funds are collective investment funds maintained by NTI as trustee. These are bank collective funds, not mutual funds. As provided in each Fund's declaration of trust, the Funds are available for investment by qualified and governmental retirement plans. Various asset classes of the underlying funds, such as small-cap and international equities may carry additional risks. Principal value and investment return will fluctuate, so that a participant's units when redeemed may be worth more or less than the original investment. Fund portfolio statistics change over time. The information provided herein is obtained from sources deemed to be reliable, however, its accuracy cannot be guaranteed. Information was provided by. The plan recordkeeper is not responsible for its content. Not FDIC insured May lose value No bank guarantee 50 South La Salle Street Chicago, Illinois 60603
FUND FACTS Quarter Ending March 31, 2011 NORTHERN TRUST FOCUS 2050 FUND TM A target retirement date fund that provides an asset allocation for people planning to retire between 2048 and 2052 What it is A target retirement date investment option provided through a collective trust fund that is available only to qualified retirement plans. This is not a mutual fund. Goal A target retirement date fund that provides an asset allocation for people planning to retire between 2048 and 2052. Over time, the asset allocation becomes more conservative as the fund approaches its target date. Approximately ten years after the fund reaches its target date, the targeted asset allocation is estimated to be 21% in stocks, 17% in inflation-hedge securities, 57% in bonds and 5% in cash reserves. Eventually, the fund merges with the Focus Income Fund. TARGETED ASSET ALLOCATION s 74.00% 11.00% Bonds 15.00% What it invests in The Fund invests in a broadly diversified portfolio of primarily passive investment funds comprised of U.S. and international stocks, securities that act as a hedge against inflation, U.S. bonds and U.S. Government cash reserves. The investment risks of each target retirement date fund change over time as its allocation changes. These funds are subject to the volatility of the financial markets including equity and fixed income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after their target dates. Unit price and return will vary. HOLDINGS (% of Portfolio) as of April 1, 2011 74.02 % Northern Trust Collective S&P 500 Index Fund - Non Lending 34.42% Northern Trust Collective S&P 400 Index Fund - Non Lending 5.48% Northern Trust Collective Russell 2000 Index Fund - Non Lending 3.98% U.S. 43.88% Northern Trust Collective EAFE Index Fund - Non Lending 22.08% Northern Trust Collective Emerging Markets Index Fund - Non Lending 8.06% International 30.14% 10.95% Northern Trust Collective Global Real Estate Index Fund - Non Lending 4.98% ipath Dow Jones UBS Commodity Index Total Return ETN 3.98% Northern Trust Collective TIPS Index Fund - Non Lending 1.99% Bond 14.94% Northern Trust Collective High Yield Fund 4.96% Northern Trust Collective Aggregate Bond Index Fund - Non Lending 9.98% Cash Reserves 0.09% Northern Trust Collective Government Short Term Investment Fund 0.09% The asset allocation shown on the pie chart above reflects the portfolio s approximate targeted asset allocation under normal market conditions between rebalancings. Asset allocation does not guarantee a profit, nor does it protect against loss. Note: Fund holdings and asset allocation are subject to change. PORTFOLIO CHARACTERISTICS as of March 31, 2011 Inception Date: October 16, 2009 Investment Management Expense NTGI 0.15% Agent Revenue Sharing Expense Recordkeeper: 0.25% Combined Expense: 0.40% Investment management expenses do not include additional expenses that may be paid to cover operational costs of the fund. These expenses may vary, are subject to change and are reflected in the net asset value of the fund and the performance shown on the reverse side. Average Weighted Market Capitalization $66,190.66 million Trailing Price/Earnings Ratio 15.50 Price/Book Ratio 1.92 Bond Average Duration 5.29 years Average Coupon 4.04% Average Credit Quality A (NTGI) is a global multiasset class investment manager serving clients worldwide. NTGI brings together the resources of The Northern Trust Company, Northern Trust Investments, Inc., Northern Trust Global Advisors, Inc. and other affiliates to offer investment products and services to personal and institutional markets.