Unsubscribe

Confirm you would like to unsubscribe from this list

Remove strategy

Confirm you would like to remove this strategy from your list

Welcome to Thornburg

Please select your location and role to help personalize the site.
Please review our Terms & Conditions

For Institutional / Wholesale / Professional Clients

The content on this website is intended for institutional and professional investors in the United States only and is not suitable for individual investors or non-U.S. entities. Institutional and professional investors include pension funds, investment companies registered under the Investment Company Act of 1940, financial intermediaries, consultants, endowments and foundations, and investment advisors registered under the Investment Advisors Act of 1940.

TERMS AND CONDITIONS OF USE

Please read the information below. By accessing this web site of Thornburg Investment Management, Inc. ("Thornburg" or "we"), you acknowledge that you understand and accept the following terms and conditions of use.

Disclaimers

Products or services mentioned on this site are subject to legal and regulatory requirements in applicable jurisdictions and may not be licensed or available in all jurisdictions and there may be restrictions or limitations to whom this information may be made available. Unless otherwise indicated, no regulator or government authority has reviewed the information or the merits of the products and services referenced herein. Past performance is not a reliable indicator of future performance. Investments carry risks, including possible loss of principal.

Reference to a fund or security anywhere on this website is not a recommendation to buy, sell or hold that or any other security. The information is not a complete analysis of every material fact concerning any market, industry, or investment, nor is it intended to predict the performance of any investment or market.

All opinions and estimates included on this website constitute judgements of Thornburg as at the date of this website and are subject to change without notice.

All information and contents of this website are furnished "as is." Data has been obtained from sources considered reliable, but Thornburg makes no representation as to the completeness or accuracy of such information and has no obligation to provide updates or changes. Thornburg disclaims, to the fullest extent of the law, any implied or express warranty of any kind, including without limitation the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

If you live in a state that does not allow disclaimers of implied warranties, our disclaimer may not apply to you.

Although Thornburg intends the information contained in this website to be accurate and reliable, errors sometimes occur. Thornburg does not warrant that the information to be free of errors, that the functions contained in the site will be uninterrupted, that defects will be corrected or that the site and servers are free from viruses or other harmful components. You agree that you are responsible for the means you use to access this website and understand that your hardware, software, the Internet, your Internet service provider, and other third parties involved in connecting you to our website may not perform as intended or desired. We also disclaim responsibility for damages third parties may cause to you through the use of this website, whether intentional or unintentional. For example, you understand that hackers could breach our security procedures, and that we will not be responsible for any related damages.

Thornburg Investment Management, Inc. is regulated by the U.S. Securities and Exchange under U.S. laws which may differ materially from laws in other jurisdictions.

Online Privacy and Cookie Policy

Please review our Online Privacy and Cookie Policy, which is hereby incorporated by reference as part of these terms and conditions.

Third Party Content

Certain website's content has been obtained from sources that Thornburg believes to be reliable as of the date presented but Thornburg cannot guarantee the accuracy, timeliness, completeness, or suitability for use of such content. The content does not take into account individual investor's circumstances, objectives or needs. The content is not intended as an offer or solicitation with respect to the purchase or sale of any security or other financial instrument or any investment management services, nor does it constitute investment advice and should not be used as the basis for any investment decision.

Suitability

No determination has been made regarding the suitability of any securities, financial instruments or strategies for any investor. The website's content is provided on the basis and subject to the explanations, caveats and warnings set out in this notice and elsewhere herein. The website's content does not purport to provide any legal, tax or accounting advice. Any discussion of risk management is intended to describe Thornburg's efforts to monitor and manage risk but does not imply low risk.

Limited License and Restrictions on Use

Except as otherwise stated in these terms of use or as expressly authorized by Thornburg in writing, you may not:

  • Modify, copy, distribute, transmit, post, display, perform, reproduce, publish, broadcast, license, create derivative works from, transfer, sell, or exploit any reports, data, information, content, software, RSS and podcast feeds, products, services, or other materials (collectively, "Materials") on, generated by or obtained from this website, whether through links or otherwise;
  • Redeliver any page, text, image or Materials on this website using "framing" or other technology;
  • Engage in any conduct that could damage, disable, or overburden (i) this website, (ii) any Materials or services provided through this website, or (iii) any systems, networks, servers, or accounts related to this website, including without limitation, using devices or software that provide repeated automated access to this website, other than those made generally available by Thornburg;
  • Probe, scan, or test the vulnerability of any Materials, services, systems, networks, servers, or accounts related to this website or attempt to gain unauthorized access to Materials, services, systems, networks, servers, or accounts connected or associated with this website through hacking, password or data mining, or any other means of circumventing any access-limiting, user authentication or security device of any Materials, services, systems, networks, servers, or accounts related to this website; or
  • Modify, copy, obscure, remove or display the Thornburg name, logo, trademarks, notices or images without Thornburg's express written permission. To obtain such permission, you may e-mail us at info@thornburg.com.

Severability, Governing Law

Failure by Thornburg to enforce any provision(s) of these terms and conditions shall not be construed as a waiver of any provision or right. This website is controlled and operated by Thornburg from its offices in Santa Fe, New Mexico. The laws of the State of New Mexico govern these terms and conditions. If you take legal action relating to these terms and conditions, you agree to file such action only in state or federal court in New Mexico and you consent and submit to the personal jurisdiction of those courts for the purposes of litigating any such action.

Termination

You acknowledge and agree that Thornburg may restrict, suspend or terminate these terms and conditions or your access to, and use, of the all or any part this website, including any links to third-party sites, at any time, with or without cause, including but not limited to any breach of these terms and conditions, in Thornburg's absolute discretion and without prior notice or liability.

Decline

Give Us a Call

Fund Operations
800.847.0200

FIND ANOTHER CONTACT

Josh Rubin

Portfolio Manager and Managing Director

Josh Rubin is portfolio manager for Thornburg Investment Management. He joined Thornburg in 2017, initially working with the global strategies before being named associate portfolio manager in 2018, and portfolio manager in 2021.

Before Thornburg, Josh worked at Driehaus Capital Management in Chicago, where he was first an associate portfolio manager responsible for emerging markets, and then the portfolio manager of the firm’s Global and certain U.S. strategies. Prior to Driehaus, Josh co-managed the emerging markets equity strategy at Marsico Capital Management in Denver, where he was also a senior analyst covering global companies across sectors. Before asset management, Josh held investment banking and consulting roles.

Josh earned a BSFS in international politics from the Walsh School of Foreign Service at Georgetown University.

21years in industry
5years at Thornburg

Investments Managed

Institutional Strategy

Emerging Markets Equity

Strategy Assets

$1.0 B

(As of 31 May 2022)

Inception Date

1 Jan 2010

Managed Account

Emerging Markets ADR

Strategy Assets

$77.3 M

(As of 31 May 2022)

Inception Date

1 Nov 2018

UCITS Funds

Developing World

I Acc | THDEVWI ID

Morningstar Rating

(As of 31 May 2022)

Overall Morningstar Rating among 2510 EAA Fund Global Emerging Markets Equity funds, based on risk-adjusted returns for class I Acc shares, using a weighted average of the funds three- and five-year ratings: respectively, 3 stars and 4 stars among 2510 and 1942 funds, as of 30 Apr 2022.

Morningstar CategoryEAA Fund Global Emerging Markets Equity
Mutual Fund

Developing World

I | THDIX

Morningstar Rating

(As of 31 May 2022)

Overall Morningstar Rating among 731 Diversified Emerging Mkts funds, based on risk-adjusted returns for class I shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 3 stars, 4 stars and 4 stars among 731, 630 and 364 funds, as of 31 May 2022.

Morningstar CategoryDiversified Emerging Mkts

Insights

Emerging Markets

Emerging Market Opportunities – Delayed but not Cancelled

Emerging markets equities have had a rough ride in recent years. Yet disciplined security selection can add value to a diversified portfolio.
Emerging Markets

New Forces Driving the Emerging Markets Evolution

As the growth drivers shift and emerging countries become less vulnerable to macro sensitivities, individual companies will matter more than countries.
Capital Appreciation

Thornburg PM Perspectives: Identifying Strong Companies

Four Thornburg equity PMs discuss how they identify strong but undervalued companies while also seeking to mitigate material ESG issue risks.
Capital Appreciation

Why You Should Make an Emerging Markets Allocation

Rebounding economic growth and manageable inflation have left emerging market stocks well positioned, but managing volatility remains a must.
Markets

EM is More than Exposure – Active Investing Enhances Opportunities

Investing in emerging markets takes a balanced approach. Thornburg’s EM equity team discusses how to effectively use EM strategies within a portfolio.
Markets

Emerging Markets Requires More than “Exposure”

Investing in EM often requires a balanced approach to fully capture the opportunity. Thornburg’s EM equity team discusses opportunities, ESG factors and portfolio allocations.
Markets & Economy

Listen to a Discussion on Emerging Markets Trends, Risks, and ESG

Emerging markets are complex and no two are countries are alike. Identifying strong, resilient companies is critical for investment success.
Sunset over Victoria harbor in Hong Kong
Capital Appreciation

The Style of Consistent Balance in Emerging Markets Investing

Josh Rubin discusses how disciplined security selection and calibrated rebalancing creates a clear, consistent framework for investing in EM.