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Thornburg Global Opportunities Fund (UCITS)

Morningstar Rating  • Info

Overall Morningstar Rating among 5061 EAA Fund Global Large-Cap Blend Equity funds, based on risk-adjusted returns for class I Acc shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 4 stars, 5 stars and 3 stars among 5061, 3860 and 2061 funds, as of 31 May 2025.

As of 31 May 2025
Fund Assets
$16.2 M
As of 31 May 2025
NAV
$41.13
As of 27 Jun 2025
Change
$0.31
As of 27 Jun 2025
YTD NAV Performance
18.60%
As of 27 Jun 2025
Asset Category:
Global Equity
Fund Benchmark:
MSCI ACWI Index

Portfolio Managers

Vice Chairman, Chief Investment Strategist and Managing Director
Portfolio Manager and Managing Director
Overview

Overview

Why Invest in This Fund?

  • A flexible, focused equity portfolio seeking investment opportunities from around the globe and across market capitalizations.
  • A proven fundamental research process to identify and select quality, undervalued businesses with a defined path to success and value creation.
  • The fund seeks to outperform global equity markets over a full market cycle.

Investment Objective

The fund’s goal is to provide investors with long-term capital appreciation by investing in equity and debt securities of all types from issuers around the world.

Investment Approach

The fund has the flexibility to seek investment opportunities from around the world and across market capitalization. It employs a fundamental, bottom-up investment process to identify companies that we believe have quality business models, trading at a discount to long-term intrinsic value, and have a defined path to success. The portfolio typically holds 30-40 securities and is diversified across countries and sectors.

Fund Facts

Fund Facts

(As of 31 May 2025)
Net Fund Assets
$16.2 M
Benchmark
MSCI ACWI Index
Morningstar Category
EAA Fund Global Large-Cap Blend Equity
Distribution Frequency
N/A
SFDR
Article 8
Minimum Investment
$1,000,000
Ongoing Charges
0.90%
Management Fee
0.75%
Share Class
I Acc
Share Class Inception Date
30 Mar 2012
Fund Inception Date
11 Jan 2011
Bloomberg Ticker
TBGOPPI ID
ISIN
IE00B4QR7893
Cusip
G8T49N 156
SEDOL
B4QR789
Performance

Performance

Returns

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Total Return (%)
-22.40
28.68
22.96
14.10
-10.37
17.61
12.63
MSCI ACWI Index (%)
-9.42
26.60
16.25
18.54
-18.36
22.20
17.49
YTD
1y
3y
5y
10y
Inception
Total Return (%)
5.65
10.13
8.56
18.62
7.39
10.50
MSCI ACWI Index (%)
-1.32
7.15
6.91
15.18
8.84
9.27
Morningstar Category Avg. (%)
-0.77
4
4.81
12.69
6.89
Morningstar Quartile
1
1
1
2
Morningstar Quartile # of Funds
6411
5061
3860
2061
YTD
1y
3y
5y
10y
Inception
Total Return (%)
12.83
14.05
12.83
16.43
7.64
10.91
MSCI ACWI Index (%)
5.32
13.65
12.30
13.37
9.25
9.69
Morningstar Category Avg. (%)
6.19
10.97
10.27
11.1
7.25
Morningstar Quartile
1
1
1
2
Morningstar Quartile # of Funds
6411
5061
3860
2061
YTD
1y
3y
5y
10y
Inception
Total Return (%)
5.65
10.13
27.93
134.87
104.01
266.40
MSCI ACWI Index (%)
-1.32
7.15
22.21
102.68
133.25
216.84
YTD
1y
3y
5y
10y
Inception
Total Return (%)
12.83
14.05
43.65
113.94
108.80
291.30
MSCI ACWI Index (%)
5.32
13.65
41.62
87.26
142.25
238.17
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 31 May 2025)
(Hypothetical Growth of $10,000 vs MSCI ACWI Index)
Characteristics

Characteristics

Portfolio

(As of 31 May 2025)
Portfolio
Benchmark
Weighted Average Market Cap
$344.1 B
$675.5 B
Median Market Cap
$102.3 B
$15.2 B
Price to Earnings - Forward 1YR
13.7x
18.7x
Dividend Yield
2.4%
1.8%
Price to Earnings - Trailing 12 Months
15.4x
21.8x
Price to Cash Flow
7.2x
12.9x
Portfolio
Benchmark
Price to Book Value
1.8x
3.2x
Return on Assets - 5 YR
8.7%
9.8%
Return on Equity - 5 YR
15.9%
30.8%
Historical 3YR Sales Growth
10.8%
16.0%
Active Share
92.0%
Risk & Return Profile

Risk & Return Profile

(As of 31 May 2025)
3y
5y
10y
Annualized Alpha (%)
1.40
3.57
-1.35
Beta
0.93
0.94
1.02
R-Squared (%)
81.93
83.78
81.56
Standard Deviation (%)
15.97
15.67
16.69
Sharpe Ratio
0.51
0.87
0.34
Information Ratio
0.08
0.48
-0.22
Tracking Error (%)
6.86
6.37
7.17
Up Capture (%)
92.97
97.62
97.37
Down Capture (%)
86.17
79.98
105.07
Portfolio

Portfolio

Top Holdings

(As of 30 Apr 2025)
Name
Ticker/Symbol
Sector
Weight %
Meta Platforms, Inc.
META
Communication Services
5.1
SAP SE
SAP
Information Technology
4.6
Orange S.A.
ORA
Communication Services
4.5
Alphabet, Inc.
GOOGL
Communication Services
4.3
Bank of Ireland Group plc
BIRG
Financials
4.1
CACI International, Inc.
CACI
Industrials
4.1
The Charles Schwab Corp.
SCHW
Financials
3.8
NN Group N.V.
NN
Financials
3.6
Reliance Industries Ltd.
RIGD
Energy
3.4
Taiwan Semiconductor Manufacturing Co. Ltd.
2330
Information Technology
3.4
Exposure Breakdown

Exposure Breakdown

(As of 31 May 2025)
Sector Allocation
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Communication Services
27.3
8.4
Financials
18.8
18.0
Consumer Discretionary
15.9
10.7
Information Technology
12.4
24.7
Energy
7.8
3.6
Industrials
6.3
11.0
Consumer Staples
3.4
6.2
Materials
2.9
3.5
Cash & Cash Equivalents
2.8
Health Care
2.2
9.2
Real Estate
0.0
2.0
Utilities
0.0
2.7
Sector Allocation
Fund (%)
Communication Services
27.3
Financials
18.8
Consumer Discretionary
15.9
Information Technology
12.4
Energy
7.8
Industrials
6.3
Consumer Staples
3.4
Materials
2.9
Cash & Cash Equivalents
2.8
Health Care
2.2
Real Estate
0.0
Utilities
0.0
Top 10 Industries
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
Telecommunication Services
14.3
1.6
Media & Entertainment
13.0
6.8
Banks
9.9
7.8
Energy
7.8
3.6
Consumer Services
6.5
2.0
Financial Services
5.8
6.8
Semiconductors & Semiconductor Equipment
5.1
9.1
Consumer Discretionary Distribution & Retail
4.9
4.9
Software & Services
4.2
9.4
Commercial & Professional Services
3.5
1.5
Top 10 Industries
Fund (%)
Telecommunication Services
14.3
Media & Entertainment
13.0
Banks
9.9
Energy
7.8
Consumer Services
6.5
Financial Services
5.8
Semiconductors & Semiconductor Equipment
5.1
Consumer Discretionary Distribution & Retail
4.9
Software & Services
4.2
Commercial & Professional Services
3.5
Top 10 Countries
Fund (%)
Benchmark (%)
Region

Portfolio

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
United States
36.0
64.0
North America
France
9.6
2.5
Europe ex UK
Germany
8.4
2.4
Europe ex UK
United Kingdom
7.6
3.4
UK
China
6.1
3.0
Asia Pacific ex Japan
Taiwan
4.3
1.9
Asia Pacific ex Japan
Ireland
4.3
0.1
Europe ex UK
Hong Kong
4.2
0.4
Asia Pacific ex Japan
India
3.2
1.9
Asia Pacific ex Japan
Korea, Republic of (South Korea)
3.1
1.0
Asia Pacific ex Japan
Top 10 Countries
Fund (%)
United States
36.0
France
9.6
Germany
8.4
United Kingdom
7.6
China
6.1
Taiwan
4.3
Ireland
4.3
Hong Kong
4.2
India
3.2
Korea, Republic of (South Korea)
3.1
Capitalization
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Cap (> $12 B)
84.2
95.0
Mid Cap ($2.5 to $12 B)
14.1
4.9
Small Cap (< $2.5 B)
1.7
0.0
Capitalization
Fund (%)
Large Cap (> $12 B)
84.2
Mid Cap ($2.5 to $12 B)
14.1
Small Cap (< $2.5 B)
1.7
Portfolio Managers

Portfolio Managers

Brian McMahon

Brian McMahon

Vice Chairman, Chief Investment Strategist and Managing Director
Brian McMahon is chief investment strategist for Thornburg Investment Management. Brian is deeply respected for his market and investment insight and serves as a key voice for the investment team and Thornburg clients. He also co-manages Thornburg’s global equity portfolios and serves as vice chairman of Thornburg. Brian joined Thornburg in 1984 as chief investment officer; a role he held…
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Miguel Oleaga

Miguel Oleaga

Portfolio Manager and Managing Director
Miguel Oleaga is a portfolio manager for Thornburg Investment Management. He joined the firm in 2014 as an equity research analyst, was promoted to associate portfolio manager in 2017, and was named portfolio manager in 2018. Miguel holds a BS in business administration (finance and management specialties) from the University of Massachusetts. Prior to his joining Thornburg, Miguel worked at…
Learn More

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