Northern High Yield Municipal Fund
NHYMX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Northern Funds Chicago IL United States of America 60603
- IPO Date
- Dec 31, 1998
- CIK
- 0000916620
- Similar Companies
- Business
- Northern High Yield Municipal Fund (NHYMX) is a mutual fund that seeks a high level of current income exempt from regular federal income tax by investing primarily in high yield municipal securities. The fund normally invests at least 80% of its net assets in debt instruments issued by states, territories, possessions, and local governments, including municipal bonds, notes, and variable rate demand obligations; these encompass both investment-grade and lower-rated (high yield or junk) securities, with at least 65% typically allocated to low-quality, rated, and unrated municipal instruments that generate federally tax-exempt income. It may also hold up to 20% in taxable securities such as U.S. Treasury obligations or investment-grade corporate bonds for liquidity or opportunistic purposes, targeting institutional and retail investors seeking tax-advantaged fixed income exposure within the high yield municipal bond segment. Operated within the United States fixed income market with a focus on domestic municipal issuers across various states and regions, the fund was established on December 31, 1998, and is headquartered at 50 South LaSalle Street in Chicago, Illinois, under the management of Northern Trust Investments, Inc., a subsidiary of Northern Trust Corporation. Northern Funds Distributors, LLC serves as the distributor, with assets under management recently approximating $394 million prior to wind-down proceedings. In a significant recent development, the Board of Trustees of Northern Funds approved a plan of complete liquidation and termination of the fund, scheduled for on or about January 31, 2025, deeming it in the best interests of shareholders amid evolving market conditions and portfolio considerations; this operational change follows steady performance management through 2024, including yield adjustments in response to rising municipal rates, with no reported acquisitions, partnerships, funding rounds, or new product launches in the prior 1-2 years.