497

November 21, 2012

VIA EDGAR TRANSMISSION

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Re: Northern Funds (the “Trust”)

1933 Act Registration No. 033-73404

1940 Act Registration No. 811-08236

Ladies and Gentlemen:

On behalf of the Trust, transmitted herewith for filing pursuant to Rule 497 under the Securities Act of 1933, as amended (“Rule 497”), are exhibits containing risk/return summary information in the eXtensible Business Reporting Language (XBRL) format that reflect the risk/return summary information included in the prospectus supplement for the Trust’s Multi-Manager Funds dated November 16, 2012, filed pursuant to Rule 497 on November 16, 2012 (accession number 0001193125-12-473607).

Questions and comments concerning the filing may be directed to the undersigned at (312) 557-1441.

Very truly yours,

/s/ Jose J. Del Real

Jose J. Del Real

Enclosures

cc: Craig Carberry, Esquire

Diana E. McCarthy, Esquire

XML

PROSPECTUS SUPPLEMENT

NORTHERN FUNDS

MULTI-MANAGER FUNDS

SUPPLEMENT DATED NOVEMBER 16, 2012 TO

PROSPECTUS DATED JULY 31, 2012

Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:

Fund	Total Annual Fund Operating Expenses After Expense Reimbursement	Operating Expense Reduction	Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013
Multi-Manager Emerging Markets Equity	1.40%	-0.05%	1.35%
Multi-Manager Global Real Estate	1.20%	-0.10%	1.10%
Multi-Manager Mid Cap	1.10%	-0.10%	1.00%
Multi-Manager High Yield Opportunity	1.00%	-0.10%	0.90%

These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.

Please retain this Supplement with your Prospectus for future reference.

XML

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Registrant Name

dei_EntityRegistrantName

NORTHERN FUNDS

Prospectus Date

rr_ProspectusDate

Jul. 31, 2012

Supplement [Text Block]

nf8_SupplementTextBlock

PROSPECTUS SUPPLEMENT

NORTHERN FUNDS

MULTI-MANAGER FUNDS

SUPPLEMENT DATED NOVEMBER 16, 2012 TO

PROSPECTUS DATED JULY 31, 2012

Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:

Fund	Total Annual Fund Operating Expenses After Expense Reimbursement	Operating Expense Reduction	Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013
Multi-Manager Emerging Markets Equity	1.40%	-0.05%	1.35%
Multi-Manager Global Real Estate	1.20%	-0.10%	1.10%
Multi-Manager Mid Cap	1.10%	-0.10%	1.00%
Multi-Manager High Yield Opportunity	1.00%	-0.10%	0.90%

These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.

Please retain this Supplement with your Prospectus for future reference.

NORTHERN MULTI-MANAGER EMERGING MARKETS EQUITY FUND

Risk/Return:

rr_RiskReturnAbstract

Supplement [Text Block]

nf8_SupplementTextBlock

PROSPECTUS SUPPLEMENT

NORTHERN FUNDS

MULTI-MANAGER FUNDS

SUPPLEMENT DATED NOVEMBER 16, 2012 TO

PROSPECTUS DATED JULY 31, 2012

Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:

Fund	Total Annual Fund Operating Expenses After Expense Reimbursement	Operating Expense Reduction	Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013
Multi-Manager Emerging Markets Equity	1.40%	-0.05%	1.35%

These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.

Please retain this Supplement with your Prospectus for future reference.

NORTHERN MULTI-MANAGER GLOBAL REAL ESTATE FUND

Risk/Return:

rr_RiskReturnAbstract

Supplement [Text Block]

nf8_SupplementTextBlock

PROSPECTUS SUPPLEMENT

NORTHERN FUNDS

MULTI-MANAGER FUNDS

SUPPLEMENT DATED NOVEMBER 16, 2012 TO

PROSPECTUS DATED JULY 31, 2012

Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:

Fund	Total Annual Fund Operating Expenses After Expense Reimbursement	Operating Expense Reduction	Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013
Multi-Manager Global Real Estate	1.20%	-0.10%	1.10%

These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.

Please retain this Supplement with your Prospectus for future reference.

NORTHERN MULTI-MANAGER MID CAP FUND

Risk/Return:

rr_RiskReturnAbstract

Supplement [Text Block]

nf8_SupplementTextBlock

PROSPECTUS SUPPLEMENT

NORTHERN FUNDS

MULTI-MANAGER FUNDS

SUPPLEMENT DATED NOVEMBER 16, 2012 TO

PROSPECTUS DATED JULY 31, 2012

Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:

Fund	Total Annual Fund Operating Expenses After Expense Reimbursement	Operating Expense Reduction	Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013
Multi-Manager Mid Cap	1.10%	-0.10%	1.00%

These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.

Please retain this Supplement with your Prospectus for future reference.

NORTHERN MULTI-MANAGER HIGH YIELD OPPORTUNITY FUND

Risk/Return:

rr_RiskReturnAbstract

Supplement [Text Block]

nf8_SupplementTextBlock

PROSPECTUS SUPPLEMENT

NORTHERN FUNDS

MULTI-MANAGER FUNDS

SUPPLEMENT DATED NOVEMBER 16, 2012 TO

PROSPECTUS DATED JULY 31, 2012

Northern Trust Investments, Inc. is scheduled to increase the expense reimbursements it provides to certain Northern Multi-Manager Funds effective as of January 1, 2013. This increase in expense reimbursements will have the effect of reducing the Total Annual Fund Operating Expenses paid by investors. The following chart illustrates the increase in expense reimbursements:

Fund	Total Annual Fund Operating Expenses After Expense Reimbursement	Operating Expense Reduction	Total Annual Fund Operating Expenses After Expense Reimbursement Effective 1/1/2013
Multi-Manager High Yield Opportunity	1.00%	-0.10%	0.90%

These new contractual expense reimbursement arrangements are expected to continue from implementation until at least December 31, 2013.

Please retain this Supplement with your Prospectus for future reference.

XML

Document and Entity Information	12 Months Ended
	Jul. 31, 2012
Risk/Return:
Document Type	Other
Document Period End Date	Mar. 31, 2012
Registrant Name	NORTHERN FUNDS
Central Index Key	0000916620
Amendment Flag	false
Document Creation Date	Nov. 16, 2012
Document Effective Date	Nov. 16, 2012
Prospectus Date	Jul. 31, 2012

XML

Label	Element	Value
Risk/Return:	rr_RiskReturnAbstract
Registrant Name	dei_EntityRegistrantName	NORTHERN FUNDS
Prospectus Date	rr_ProspectusDate	Jul. 31, 2012
Document Creation Date	dei_DocumentCreationDate	Nov. 16, 2012