Jeff Klingelhofer, CFA
Co-Head of Investments and Managing Director
Jeff Klingelhofer is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Jeff is also a portfolio manager on multiple strategies. He joined the firm in 2010, then was promoted to associate portfolio manager in 2012. In 2015, Jeff was made portfolio manager and managing director.
Jeff earned a BA in economics with a minor in business from the University of California at Irvine, and an MBA from the University of Chicago Booth School of Business in 2010. He is also a CFA charterholder. Prior to joining Thornburg Investment Management, Jeff spent four years with PIMCO, where he was responsible for monitoring portfolio leverage and risk tolerances.
19years in industry
13years at Thornburg
Investments Managed
Insights
Markets & Economy
Can the Fed Bring Prices Down to Its 2% Target?
Co-Heads of Investments Jeff Klingelhofer and Ben Kirby look at what it will take for the Fed to consider cutting interest rates.
Markets & Economy
Global Market Observations: Is a Recession a Foregone Conclusion?
Co-Heads of Investments Jeff Klingelhofer and Ben Kirby discuss the possibility of a recession in the U.S. and the impact of higher capital costs.
Markets & Economy
Global Markets Observations: Risk Assets Ride Out the Banking Scare
Co-Heads of Investments Jeff Klingelhofer and Ben Kirby discuss market resiliency through the banking tremors and where valuations appear attractive.
Fixed Income
Yield Is Back! But Inflation May Prove Sticky for the Fed
Jeff Klingelhofer, Co-Head of Investments & Managing Director, argues that caution is needed as the Fed wrestles "bad" inflation down to a comfortable level.
Fixed Income
Fed Pivot in the Cards? Why the Third Mandate Matters
When will the Fed pivot from its aggressive tightening? Co-Head of Investments Jeff Klingelhofer thinks the Fed’s little known “third mandate” provides insight.
Outlook
Fed Policy Won’t Pivot Until Inflation Is on a Clear Downward Path
The yield component of fixed income is back! However, Central Bank policy rates, led by the U.S. Fed, will continue to climb until "bad" inflation is on a solid downward trend.
Outlook
2023 Outlook: Return to Normal?
After a tumultuous 2022, investors are eager to recoup their losses. However, they still face persistently high inflation, a hawkish Fed, the risk of a recession, and continued geopolitical risks.
Fixed Income
Observations in Fixed Income Q4: Inflation Remains the Top Story
Co-Head of Investments Jeff Klingelhofer dives into the Fed’s role in today’s inflationary environment and the pockets of value within fixed income that could interest investors moving forward.
Fixed Income
The Fed’s Third Mandate: A Tool to Determine When Policy Pivots?
Co-Head of Investments Jeff Klingelhofer argues that the Fed's third mandate may help signal the timing of the next policy shift.
Fixed Income
Think ABS Residuals To Improve Your Risk/Reward Trade Off
Selective ABS residuals may improve your risk/reward trade off in the fixed income portfolio construction process.