Founded in 1889, Northern Trusts managed assets worth more than $1.1 trillion as of Mar 31, 2021, based on assets raised in the country. The company generally focuses on funds that have a long-term performance goal. Moreover, the Northern funds do not bear sales load, making them strong investment choices for those seeking low-cost funds.Northern Trusts is one of the major asset management companies, providing a variety of investment solutions and strategies to both individuals and institutions. It comprises investment professionals with experience of more than 15 years. At present, the company has more than 20 branches globally with around 18,800 employees.Below we focus on three top-ranked Northern mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy) and is expected to outperform peers. Investors can click here to see the complete list of Northern funds.Northern Arizona Tax-Exempt Fund NOAZX seeks to offer a high current income exempted from regular federal income tax and Arizona State personal income tax by investing in municipal instruments. The fund invests the majority of its assets in debt instruments that pay interest exempted from regular federal income tax and in instruments that provide income exempted from Arizona State personal income tax. NOAZX carries a Zacks Mutual Fund Rank #1 and has three-year annualized returns of 4.2%.As of the end of June 2021, NOAZX held 142 issues, with 3% of its assets invested in MARICOPA CNTY ARIZ INDL DEV AUTH HOSP REV 5%.Northern Active M International Equity Fund NMIEX aims for long-term capital appreciation. The fund invests the majority of its assets in equity securities of companies situated outside the United States. It utilizes a multi-manager approach in which its assets are allocated to one or more sub-advisers, in percentages determined at the discretion of the fund's investment advisers. NMIEX carries a Zacks Mutual Fund Rank #2 and has returned 9.5% in three years.NMIEX has an expense ratio of 0.85% compared with the category average of 0.92%.Northern Large Cap Core Fund NOLCX seeks capital appreciation for the long run. The fund invests the lion's share of its assets in equity securities of large-cap domestic companies that may also include non-U.S. large capitalization companies traded in the United States. NOLCX sports a Zacks Mutual Fund Rank #2 and has returned 14.9% over the past three years.Mark C. Sodergren is the fund manager of NOLCX since 2011.To view the Zacks Rank and past performance of all Northern mutual funds, investors can click here to see the complete list of Northern funds.Want key mutual fund info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >> Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. See Zacks’ Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (NOAZX): Fund Analysis Report Get Your Free (NOLCX): Fund Analysis Report Get Your Free (NMIEX): Fund Analysis Report To read this article on Zacks.com click here.