Issued by Prima Capital and Investment Advisor magazine, the Thornburg International ADR Strategy received the 2010 Separately Managed Account (SMA) Award for the International category. The award is based on a qualitative analysis of SMAs. Nominees are required to have a minimum of $250 million in assets under management, manager tenure of at least three years, wide availability through retail programs, and above average rank in at least four of the five SMA Evaluator categories – Firm Quality, Resources, Level of Client Service, Tax Efficiency, and Performance. This award is not indicative of Thornburg Investment Management’s future performance and is not representative of any one client’s experience.

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