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Breakpoint Schedule

Thornburg Limited Term Bond Funds and Short and Ultra Short Funds

Class A SharesThis includes the following funds:

  • Thornburg Limited Term Municipal Fund
  • Thornburg California Limited Term Municipal Fund
  • Thornburg Short Duration Municipal Fund
  • Thornburg Limited Term Income Fund
  • Thornburg Limited Term U.S. Government Fund
  • Thornburg Ultra Short Income Fund
Amount Sales Charge
$0 – $99,999 2.25%
$100,000 – $249,999 2.00%
$250,000 – $499,999 1.50%
$500,000 – $999,999 1.00%
$1,000,000 and up 0.00%*

*A 0.50% contingent deferred sales charge (CDSC) is in effect for one year after a purchase.Minimum Initial Purchase: Regular Account $5,000, IRA $2,000.Class C SharesThis includes the following funds:

  • Thornburg Limited Term Municipal Fund
  • Thornburg California Limited Term Municipal Fund
  • Thornburg Limited Term Income Fund
  • Thornburg Limited Term U.S. Government Fund

Purchased at no load.A 0.50% contingent deferred sales charge (CDSC) is in effect for one year after a purchase.Minimum Initial Purchase: Regular Account $5,000, IRA $2,000.

Thornburg Intermediate Term Funds and Strategic Municipal Income Fund

Class A SharesThis includes the following funds:

  • Thornburg Intermediate Municipal Fund
  • Thornburg New Mexico Intermediate Municipal Fund
  • Thornburg New York Intermediate Municipal Fund
  • Thornburg Strategic Municipal Income Fund
Amount Sales Charge
$0 – $249,999 2.00%
$250,000 – $499,999 1.50%
$500,000 – $999,999 1.25%
$1,000,000 and up 0.00%*

*A 0.50% contingent deferred sales charge (CDSC) is in effect for one year after a purchase.Minimum Initial Purchase: Regular Account $5,000Class C SharesThis includes the following funds:

  • Thornburg Intermediate Municipal Fund
  • Thornburg Strategic Municipal Income Fund

Purchased with no up front sales charge.A 0.60% contingent deferred sales charge (CDSC) is in effect for one year after a purchase.Minimum Initial Purchase: Regular Account $5,000.Class D SharesThis includes the following fund:

  • Thornburg New Mexico Intermediate Municipal Fund

Purchased with no up front sales charge.No contingent deferred sales charge (CDSC).Minimum Initial Purchase: Regular Account $5,000.

Thornburg Equity Funds, Thornburg Strategic Income Fund, and Thornburg Core Plus Bond Fund

Class A SharesThis includes the following funds:

  • Thornburg Small/Mid Cap Core Fund
  • Thornburg International Equity Fund
  • Thornburg Better World International Fund
  • Thornburg Small/Mid Cap Growth Fund
  • Thornburg Investment Income Builder
  • Thornburg Global Opportunities Fund
  • Thornburg International Growth Fund
  • Thornburg Developing World Fund
  • Thornburg Strategic Income Fund
  • Thornburg Summit Fund
  • Thornburg Core Plus Bond Fund
Amount Sales Charge
$0 – $49,999 4.50%
$50,000 – $99,999 4.00%
$100,000 – $249,999 3.50%
$250,000 – $499,999 3.00%
$500,000 – $999,999 2.00%
$1,000,000 and up 0%*

*A 1.0% contingent deferred sales charge (CDSC) is in effect for one year after a purchase.Minimum Initial Purchase: Regular Account $5,000, IRA $2,000.Class C SharesThis includes the following funds:

  • Thornburg Small/Mid Cap Core Fund
  • Thornburg International Equity Fund
  • Thornburg Better World International Fund
  • Thornburg Small/Mid Cap Growth Fund
  • Thornburg Investment Income Builder
  • Thornburg Global Opportunities Fund
  • Thornburg International Growth Fund
  • Thornburg Developing World Fund
  • Thornburg Strategic Income Fund
  • Thornburg Core Plus Bond Fund

Purchased with no up front sales charge.A 1.0% contingent deferred sales charge (CDSC) is in effect for one year after a purchase. Minimum Initial Purchase: Regular Account $5,000, IRA $2,000.

All Funds

No Class C purchases of $1,000,000 or more.There are no up-front sales charges for Class I or Class R Shares.I shares are for individual investors with $2,500,000 or for wrap or fee-based advisory programs as specified by the wrap programs provider.If you have additional questions, please call 800-847-0200 to speak with a shareholder representative.

Important Information

Before investing, carefully consider the Fund's investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit thornburg.com. Read them carefully before investing.

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments outside the United States, especially in emerging markets, including currency fluctuations, illiquidity, volatility, and political and economic risks. Investments in small- and mid-capitalization companies may increase the risk of greater price fluctuations. Portfolios investing in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The value of bonds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. This effect is more pronounced for longer-term bonds. Unlike bonds, bond funds have ongoing fees and expenses. Investments in mortgage-backed securities (MBS) may bear additional risk. Investments in lower rated and unrated bonds may be more sensitive to default, downgrades, and market volatility; these investments may also be less liquid than higher rated bonds. Investments in derivatives are subject to the risks associated with the securities or other assets underlying the pool of securities, including illiquidity and difficulty in valuation. Investments in the Funds are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

The Better World International Fund's adherence to its ESG ratings process may affect the fund's exposure to certain companies, sectors, regions, and countries and may affect the Fund's performance depending on whether such investments are in or out of favor. This process may result in the Fund foregoing opportunities to buy certain securities when it might otherwise be advantageous to do so, or selling securities for ESG reasons when it might be otherwise disadvantageous for it to do so. Additionally, the process may result in incorrectly evaluating a company’s commitment to positive ESG practices and may result in investment in companies with practices that are not consistent with the Fund’s aspirations.

Investing in an ESG-focused strategy does not assure or guarantee better performance and cannot eliminate the risk of investment losses.

Class I shares may not be available to all investors. Minimum investments for the I share class may be higher than those for other classes.

Class R shares are limited to retirement platforms only.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities LLC.

Thornburg Investment Management, Inc. mutual funds are sold through investment professionals including investment advisors, brokerage firms, bank trust departments, trust companies and certain other financial intermediaries. Thornburg Securities LLC (TSL) does not act as broker of record for investors.