Bottom-up, quality credit selection strategies from Thornburg

At Thornburg, fixed income investing is in our DNA, dating back to 1982. In 1984, we launched the Limited Term Municipal Fund.

Over three decades of bull and bear bond markets, Fed policies, recessions and economic booms, our active, bottom-up approach to fixed income investing has always put our clients first.

Today, our 11 fixed income strategies span a wide spectrum of core and strategic offerings – all of them active, transparent and straightforward in their approach.

More about our bond funds.

Why Thornburg for Fixed Income

  • Experience: Fixed income investing is in our DNA. It’s where we began, and in 1984 we were among the first to introduce an active laddering discipline to municipal bond portfolio management.
  • Active: Active is how we think and invest. Our unique team structure empowers us to build fixed income portfolios one credit at a time, based on what we think are individual merits, not broad duration plays, interest rate bets, or where benchmarks are moving.
  • Risk Managed: We don’t chase yield for yield’s sake—we avoid credit risk if the reward isn't there. Our core funds apply laddering, with which we actively diversify along the yield curve to help keep a relatively steady NAV, minimize interest-rate risk, and constantly put cash to effective use.

Lipper Fund Awards are granted annually to the fund in each Lipper classification that consistently delivered the strongest risk-adjusted performance (calculated with dividends reinvested and without sales charge). Fund Classification Awards are given for three-year, five-year, and ten-year periods. Thornburg did not win the award for any other time period. Past performance does not guarantee future results.

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Fixed Income FUNDS

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 our literature center. Read them carefully before investing.

Investments carry risks, including possible loss of principal. 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 equity securities are subject to additional risks, such as greater market fluctuations. 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 the Funds are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities Corporation.

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 Corporation (TSC) does not act as broker of record for investors.

Income earned from municipal bonds is exempt from regular federal and in some cases, state and local income tax. Income may be subject to the alternative minimum tax (AMT).

The laddering strategy does not assure or guarantee better performance than a non-laddered portfolio and cannot eliminate the risk of investment losses.

Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment losses.