The Benchmark Funds have been renamed the Northern Institutional Funds so they will be more closely associated with fund advisers Northern Trust and Northern Trust Quantitative Advisors, said Stephen Timbers, president of Northern Trust Global Investments. The institutional mutual fund group includes 17 portfolios with more than $10 billion in total assets.
No changes will be made in the portfolios. Northern will continue as custodian and transfer agent for the funds and Goldman Sachs & Co. continues as fund distributor. Clients include corporate pension funds, insurance companies, endowments, foundations and health-care businesses.