In light of increased investor interest in money market funds and fixed income investments, Northern Trust has introduced the Northern Tax-Advantaged Ultra-Short Fixed Income Fund and the Northern Ultra-Short Fixed Income Funds.

The funds are designed to offer higher yields than money market funds but less volatility than short-duration bond funds, and will invest in securities with maturities of six to 36 months. They have a minimum initial investment of $1 million and are designed for investors looking for a time horizon of at least one year. Both will make dividend distributions monthly.

“As we continue to face uncertainty regarding an economic and financial market recovery,” said Colin Robertson, managing director of fixed income investments at Northern Trust, “investors have become increasingly interested in the potential benefits of having fixed income assets in their investment portfolios. For investors looking to get back into the market, the new funds are designed to provide opportunity for both higher yields than money funds and capital appreciation with minimal volatility.”