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Welcome to Thornburg

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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.

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Rob-Costello-1x1

Rob Costello, CFA

Client Portfolio Manager

Robert Costello is a client portfolio manager for Thornburg Investment Management. He serves as a liaison between the portfolio management team and key investment decision makers, communicating process and results of the firm’s fixed income investment strategies. Rob joined Thornburg in 2021.

Prior to Thornburg, Rob spent nine years at Putnam Investments, serving as a senior investment director with a focus on the firm’s multi-sector fixed income products. In this capacity, he was responsible for communicating strategy, performance, and positioning to clients and prospects, as well as developing and launching new fixed income strategies. Prior to Putnam, Rob was a vice president in BlackRock’s Global Client Group, serving as a client relationship manager to public and private pension plans, corporations, foundations, and endowments. Rob holds a BA in economics from Dartmouth College.

Insights

The United States Treasury Department in Washington D.C.
Fixed Income

The Decline of US Treasuries? What Treasury Auctions Reveal

Despite the perceived weakness, we believe there are three critical indicators that reveal the strength of investor demand for U.S. government debt.
Cut to the Chase webcast

Cut to the Chase: Seizing Fixed Income Opportunities

The Fed looks set to cut interest rates this week, prompting a re-evaluation of fixed income strategies. There are strategies and opportunities in fixed income to exploit.
A woman with umbrella and smart phone.
Markets & Economy

Finding Income, Opportunities and Defense in Today’s Markets

Gain insights on how to position fixed income portfolios for yield and ballast given mixed signals on consumer health and policy outlook.
Cash is losing its crown and no longer a bandaid for investors.
Interest Rates

Will Cash Be Dethroned? Why Bonds Should Reign Going Forward

While cash instruments were attractive during the Fed hiking cycle, bonds have historically outperformed cash both prior to and when the Fed began cutting rates.
A strong defense takes practice and dedication, which can lead to an effective offense.
Investment Tactics

Winning with Defense—The Key to Successful Bond Investing

Downside protection not only aligns with client preferences. Analysis shows that top-performing multisector bond strategies excel by effectively managing downside risk.
Various bottles representing alchemy of Low Interest Rates: Corporate and Government Bonds
Fixed Income

The End of Low-Interest Rate Alchemy: Corporates and Government

We expect a period of sustained high interest rates to significantly challenge corporate and government balance sheets, weighing on growth.
A collection of antique glass bottles in a dusty shop window in the Hudson River Valley of New York.
Fixed Income

The End of Low-Interest Rate Alchemy: Impact on the Consumer

With the economy slowing, we expect a period of sustained high interest rates to significantly and negatively impact consumer balance sheets and consumption.
One hundred dollar bill with a crown on Ben Franklin's head.
Fixed Income

Is Cash Really King? Why Bonds Should Reign

While cash yields are certainly attractive today, fixed income assets have historically outperformed cash when the Fed stopped raising rates.
Benefits of paring credit with rates exposure in today's markets
Fixed Income

The Powerful Pairing of Credit Risk and Interest Rate Risk

Discover the advantages of incorporating credit risk alongside interest rate exposure to achieve better diversification and risk-adjusted returns.
A sign telling bank customers to wait for the next available bank teller.
Global Equity

The Situation Remains Fluid: An Update on the Banking Industry

In the wake of the failures at Silicon Valley Bank, Signature Bank and Credit Suisse, the situation in the global banking industry remains uncertain at best.