Thornburg Limited Term U.S. Government Fund
SYMBOL: LTURX
Morningstar Rating • Info
Overall Morningstar Rating among 90 Short Government funds, based on risk-adjusted returns for class R3 shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 2 stars, 1 star and 2 stars among 90, 87 and 79 funds, as of 30 Jun 2025.
As of 30 Jun 2025
Fund Assets
$105.1 M
As of 30 Jun 2025
NAV
$12.12
As of 29 Jul 2025
Change
$0.04
As of 29 Jul 2025
YTD NAV Performance
3.73%
As of 29 Jul 2025
Asset Category:
Global Fixed Income
Fund Benchmark:
Bloomberg U.S. Government Intermediate Index
Portfolio Managers
Portfolio Manager and Managing Director
Head of Fixed Income and Managing Director
Overview
Performance
Performance
Returns
(As of 30 Jun 2025)2019
2020
2021
2022
2023
2024
Total Return (%)
3.52
3.66
-1.94
-8.01
3.90
2.32
Bloomberg U.S. Government Intermediate Index (%)
5.20
5.73
-1.69
-7.73
4.30
2.44
Fund Fees
Fund Fees
(As of 1 Feb 2025)
Gross Expense Ratio (%)
1.92
Net Expense Ratio (%)
0.99
Hypothetical Growth of $10,000
Hypothetical Growth of $10,000
(As of 30 Jun 2025)
(Hypothetical Growth of $10,000 vs Bloomberg U.S. Government Intermediate Index)
Distributions
Distributions
(As of 30 Jun 2025)Ex-Date
Payable Date
Total ($)
Income ($)
ST Cap Gains ($)
LT Cap Gains ($)
31 Jan 2003
31 Jan 2003
0
—
—
—
28 Feb 2003
28 Feb 2003
0
—
—
—
31 Mar 2003
31 Mar 2003
0
—
—
—
30 Apr 2003
30 Apr 2003
0
—
—
—
31 May 2003
31 May 2003
0
—
—
—
30 Jun 2003
30 Jun 2003
0
—
—
—
31 Jul 2003
31 Jul 2003
0.06479
0.06479
—
—
29 Aug 2003
31 Aug 2003
0.06809
0.06809
—
—
30 Sep 2003
30 Sep 2003
0.03883
0.03883
—
—
31 Oct 2003
31 Oct 2003
0.04049
0.04049
—
—
28 Nov 2003
30 Nov 2003
0.03753
0.03753
—
—
31 Dec 2003
31 Dec 2003
0.03193
0.03193
—
—
30 Jan 2004
31 Jan 2004
0.02934
0.02934
—
—
27 Feb 2004
29 Feb 2004
0.03036
0.03036
—
—
31 Mar 2004
31 Mar 2004
0.03183
0.03183
—
—
30 Apr 2004
30 Apr 2004
0.03170
0.03170
—
—
28 May 2004
31 May 2004
0.02905
0.02905
—
—
30 Jun 2004
30 Jun 2004
0.02727
0.02727
—
—
30 Jul 2004
31 Jul 2004
0.02971
0.02971
—
—
31 Aug 2004
31 Aug 2004
0.02850
0.02850
—
—
30 Sep 2004
30 Sep 2004
0.02448
0.02448
—
—
29 Oct 2004
31 Oct 2004
0.02546
0.02546
—
—
30 Nov 2004
30 Nov 2004
0.02708
0.02708
—
—
31 Dec 2004
31 Dec 2004
0.03650
0.03650
—
—
31 Jan 2005
31 Jan 2005
0.02669
0.02669
—
—
28 Feb 2005
28 Feb 2005
0.02625
0.02625
—
—
31 Mar 2005
31 Mar 2005
0.02793
0.02793
—
—
29 Apr 2005
30 Apr 2005
0.02775
0.02775
—
—
31 May 2005
31 May 2005
0.02874
0.02874
—
—
30 Jun 2005
30 Jun 2005
0.02830
0.02830
—
—
29 Jul 2005
31 Jul 2005
0.02939
0.02939
—
—
31 Aug 2005
31 Aug 2005
0.02942
0.02942
—
—
30 Sep 2005
30 Sep 2005
0.02949
0.02949
—
—
31 Oct 2005
31 Oct 2005
0.02957
0.02957
—
—
30 Nov 2005
30 Nov 2005
0.03003
0.03003
—
—
30 Dec 2005
31 Dec 2005
0.03106
0.03106
—
—
31 Jan 2006
31 Jan 2006
0.02706
0.02706
—
—
28 Feb 2006
28 Feb 2006
0.02332
0.02332
—
—
31 Mar 2006
31 Mar 2006
0.03252
0.03252
—
—
28 Apr 2006
30 Apr 2006
0.02978
0.02978
—
—
31 May 2006
31 May 2006
0.03232
0.03232
—
—
30 Jun 2006
30 Jun 2006
0.03442
0.03442
—
—
31 Jul 2006
31 Jul 2006
0.03346
0.03346
—
—
31 Aug 2006
31 Aug 2006
0.03220
0.03220
—
—
29 Sep 2006
30 Sep 2006
0.03231
0.03231
—
—
31 Oct 2006
31 Oct 2006
0.03215
0.03215
—
—
30 Nov 2006
30 Nov 2006
0.02783
0.02783
—
—
29 Dec 2006
31 Dec 2006
0.03517
0.03517
—
—
31 Jan 2007
31 Jan 2007
0.03121
0.03121
—
—
28 Feb 2007
28 Feb 2007
0.03093
0.03093
—
—
30 Mar 2007
31 Mar 2007
0.03525
0.03525
—
—
30 Apr 2007
30 Apr 2007
0.03289
0.03289
—
—
31 May 2007
31 May 2007
0.03529
0.03529
—
—
29 Jun 2007
30 Jun 2007
0.03536
0.03536
—
—
31 Jul 2007
31 Jul 2007
0.03665
0.03665
—
—
31 Aug 2007
31 Aug 2007
0.03666
0.03666
—
—
28 Sep 2007
30 Sep 2007
0.03855
0.03855
—
—
31 Oct 2007
31 Oct 2007
0.03706
0.03706
—
—
30 Nov 2007
30 Nov 2007
0.03684
0.03684
—
—
31 Dec 2007
31 Dec 2007
0.03719
0.03719
—
—
31 Jan 2008
31 Jan 2008
0.03642
0.03642
—
—
29 Feb 2008
29 Feb 2008
0.03646
0.03646
—
—
31 Mar 2008
31 Mar 2008
0.03448
0.03448
—
—
30 Apr 2008
30 Apr 2008
0.03527
0.03527
—
—
30 May 2008
31 May 2008
0.03623
0.03623
—
—
30 Jun 2008
30 Jun 2008
0.03732
0.03732
—
—
31 Jul 2008
31 Jul 2008
0.03690
0.03690
—
—
29 Aug 2008
31 Aug 2008
0.03896
0.03896
—
—
30 Sep 2008
30 Sep 2008
0.03823
0.03823
—
—
31 Oct 2008
31 Oct 2008
0.02662
0.02662
—
—
28 Nov 2008
30 Nov 2008
0.03395
0.03395
—
—
31 Dec 2008
31 Dec 2008
0.01625
0.01625
—
—
30 Jan 2009
31 Jan 2009
0.01654
0.01654
—
—
27 Feb 2009
28 Feb 2009
0.03280
0.03280
—
—
31 Mar 2009
31 Mar 2009
0.03985
0.03985
—
—
30 Apr 2009
30 Apr 2009
0.04242
0.04242
—
—
29 May 2009
31 May 2009
0.04087
0.04087
—
—
30 Jun 2009
30 Jun 2009
0.04173
0.04173
—
—
31 Jul 2009
31 Jul 2009
0.04231
0.04231
—
—
31 Aug 2009
31 Aug 2009
0.04622
0.04622
—
—
30 Sep 2009
30 Sep 2009
0.03758
0.03758
—
—
30 Oct 2009
31 Oct 2009
0.03590
0.03590
—
—
19 Nov 2009
19 Nov 2009
0.06188
—
0.00000
0.06188
30 Nov 2009
30 Nov 2009
0.03509
0.03509
—
—
31 Dec 2009
31 Dec 2009
0.04876
0.04876
—
—
29 Jan 2010
31 Jan 2010
0.03378
0.03378
—
—
26 Feb 2010
28 Feb 2010
0.03353
0.03353
—
—
31 Mar 2010
31 Mar 2010
0.03445
0.03445
—
—
30 Apr 2010
30 Apr 2010
0.03027
0.03027
—
—
28 May 2010
31 May 2010
0.03246
0.03246
—
—
30 Jun 2010
30 Jun 2010
0.03077
0.03077
—
—
30 Jul 2010
31 Jul 2010
0.02786
0.02786
—
—
31 Aug 2010
31 Aug 2010
0.02797
0.02797
—
—
30 Sep 2010
30 Sep 2010
0.03233
0.03233
—
—
29 Oct 2010
31 Oct 2010
0.03271
0.03271
—
—
30 Nov 2010
30 Nov 2010
0.03326
0.03326
—
—
31 Dec 2010
31 Dec 2010
0.04776
0.04776
—
—
31 Jan 2011
31 Jan 2011
0.03058
0.03058
—
—
28 Feb 2011
28 Feb 2011
0.03202
0.03202
—
—
31 Mar 2011
31 Mar 2011
0.03122
0.03122
—
—
29 Apr 2011
30 Apr 2011
0.03247
0.03247
—
—
31 May 2011
31 May 2011
0.03544
0.03544
—
—
30 Jun 2011
30 Jun 2011
0.03243
0.03243
—
—
29 Jul 2011
31 Jul 2011
0.03013
0.03013
—
—
31 Aug 2011
31 Aug 2011
0.02646
0.02646
—
—
30 Sep 2011
30 Sep 2011
0.02507
0.02507
—
—
31 Oct 2011
31 Oct 2011
0.02567
0.02567
—
—
30 Nov 2011
30 Nov 2011
0.03417
0.03417
—
—
30 Dec 2011
31 Dec 2011
0.03619
0.03619
—
—
31 Jan 2012
31 Jan 2012
0.02654
0.02654
—
—
29 Feb 2012
29 Feb 2012
0.02450
0.02450
—
—
30 Mar 2012
31 Mar 2012
0.02629
0.02629
—
—
30 Apr 2012
30 Apr 2012
0.02870
0.02870
—
—
31 May 2012
31 May 2012
0.02923
0.02923
—
—
29 Jun 2012
30 Jun 2012
0.02544
0.02544
—
—
31 Jul 2012
31 Jul 2012
0.02422
0.02422
—
—
31 Aug 2012
31 Aug 2012
0.02927
0.02927
—
—
28 Sep 2012
30 Sep 2012
0.02988
0.02988
—
—
31 Oct 2012
31 Oct 2012
0.03425
0.03425
—
—
30 Nov 2012
30 Nov 2012
0.03336
0.03336
—
—
31 Dec 2012
31 Dec 2012
0.03051
0.03051
—
—
31 Jan 2013
31 Jan 2013
0.02808
0.02808
—
—
28 Feb 2013
28 Feb 2013
0.02492
0.02492
—
—
28 Mar 2013
31 Mar 2013
0.02743
0.02743
—
—
30 Apr 2013
30 Apr 2013
0.02631
0.02631
—
—
31 May 2013
31 May 2013
0.02567
0.02567
—
—
28 Jun 2013
30 Jun 2013
0.02327
0.02327
—
—
31 Jul 2013
31 Jul 2013
0.02218
0.02218
—
—
30 Aug 2013
31 Aug 2013
0.01544
0.01544
—
—
30 Sep 2013
30 Sep 2013
0.00759
0.00759
—
—
31 Oct 2013
31 Oct 2013
0.01343
0.01343
—
—
29 Nov 2013
30 Nov 2013
0.01364
0.01364
—
—
31 Dec 2013
31 Dec 2013
0.01509
0.01509
—
—
31 Jan 2014
31 Jan 2014
0.01788
0.01788
—
—
28 Feb 2014
28 Feb 2014
0.02585
0.02585
—
—
31 Mar 2014
31 Mar 2014
0.03146
0.03146
—
—
30 Apr 2014
30 Apr 2014
0.02282
0.02282
—
—
30 May 2014
31 May 2014
0.02469
0.02469
—
—
30 Jun 2014
30 Jun 2014
0.02332
0.02332
—
—
31 Jul 2014
31 Jul 2014
0.02347
0.02347
—
—
29 Aug 2014
31 Aug 2014
0.02007
0.02007
—
—
30 Sep 2014
30 Sep 2014
0.02212
0.02212
—
—
31 Oct 2014
31 Oct 2014
0.02417
0.02417
—
—
28 Nov 2014
30 Nov 2014
0.02575
0.02575
—
—
31 Dec 2014
31 Dec 2014
0.01695
0.01695
—
—
30 Jan 2015
31 Jan 2015
0.01021
0.01021
—
—
27 Feb 2015
28 Feb 2015
0.01006
0.01006
—
—
31 Mar 2015
31 Mar 2015
0.01240
0.01240
—
—
30 Apr 2015
30 Apr 2015
0.01882
0.01882
—
—
29 May 2015
31 May 2015
0.02289
0.02289
—
—
30 Jun 2015
30 Jun 2015
0.01948
0.01948
—
—
31 Jul 2015
31 Jul 2015
0.01926
0.01926
—
—
31 Aug 2015
31 Aug 2015
0.01885
0.01885
—
—
30 Sep 2015
30 Sep 2015
0.01591
0.01591
—
—
30 Oct 2015
31 Oct 2015
0.01067
0.01067
—
—
30 Nov 2015
30 Nov 2015
0.00894
0.00894
—
—
31 Dec 2015
31 Dec 2015
0.01952
0.01952
—
—
29 Jan 2016
31 Jan 2016
0.01489
0.01489
—
—
29 Feb 2016
29 Feb 2016
0.01081
0.01081
—
—
31 Mar 2016
31 Mar 2016
0.01806
0.01806
—
—
29 Apr 2016
30 Apr 2016
0.01698
0.01698
—
—
31 May 2016
31 May 2016
0.02007
0.02007
—
—
30 Jun 2016
30 Jun 2016
0.02106
0.02106
—
—
29 Jul 2016
31 Jul 2016
0.01959
0.01959
—
—
31 Aug 2016
31 Aug 2016
0.01836
0.01836
—
—
30 Sep 2016
30 Sep 2016
0.00720
0.00720
—
—
31 Oct 2016
31 Oct 2016
0.01168
0.01168
—
—
30 Nov 2016
30 Nov 2016
0.01476
0.01476
—
—
30 Dec 2016
31 Dec 2016
0.01775
0.01775
—
—
31 Jan 2017
31 Jan 2017
0.01133
0.01133
—
—
28 Feb 2017
28 Feb 2017
0.01363
0.01363
—
—
31 Mar 2017
31 Mar 2017
0.01908
0.01908
—
—
28 Apr 2017
30 Apr 2017
0.01682
0.01682
—
—
31 May 2017
31 May 2017
0.01388
0.01388
—
—
30 Jun 2017
30 Jun 2017
0.01654
0.01654
—
—
31 Jul 2017
31 Jul 2017
0.01429
0.01429
—
—
31 Aug 2017
31 Aug 2017
0.01334
0.01334
—
—
29 Sep 2017
30 Sep 2017
0.01418
0.01418
—
—
31 Oct 2017
31 Oct 2017
0.01699
0.01699
—
—
30 Nov 2017
30 Nov 2017
0.02036
0.02036
—
—
29 Dec 2017
31 Dec 2017
0.01243
0.01243
—
—
31 Jan 2018
31 Jan 2018
0.01362
0.01362
—
—
28 Feb 2018
28 Feb 2018
0.01616
0.01616
—
—
29 Mar 2018
31 Mar 2018
0.01805
0.01805
—
—
30 Apr 2018
30 Apr 2018
0.02036
0.02036
—
—
31 May 2018
31 May 2018
0.01761
0.01761
—
—
29 Jun 2018
30 Jun 2018
0.02046
0.02046
—
—
31 Jul 2018
31 Jul 2018
0.02110
0.02110
—
—
31 Aug 2018
31 Aug 2018
0.01738
0.01738
—
—
28 Sep 2018
30 Sep 2018
0.01529
0.01529
—
—
31 Oct 2018
31 Oct 2018
0.01592
0.01592
—
—
30 Nov 2018
30 Nov 2018
0.01754
0.01754
—
—
31 Dec 2018
31 Dec 2018
0.01850
0.01850
—
—
31 Jan 2019
31 Jan 2019
0.01182
0.01182
—
—
28 Feb 2019
28 Feb 2019
0.01243
0.01243
—
—
29 Mar 2019
31 Mar 2019
0.01920
0.01920
—
—
30 Apr 2019
30 Apr 2019
0.02082
0.02082
—
—
31 May 2019
31 May 2019
0.02112
0.02112
—
—
28 Jun 2019
30 Jun 2019
0.02106
0.02106
—
—
31 Jul 2019
31 Jul 2019
0.01935
0.01935
—
—
31 Aug 2019
31 Aug 2019
0.01803
0.01803
—
—
30 Sep 2019
30 Sep 2019
0.01938
0.01938
—
—
31 Oct 2019
31 Oct 2019
0.01924
0.01924
—
—
30 Nov 2019
30 Nov 2019
0.01795
0.01795
—
—
31 Dec 2019
31 Dec 2019
0.01819
0.01819
—
—
31 Jan 2020
31 Jan 2020
0.01626
0.01626
—
—
29 Feb 2020
29 Feb 2020
0.01649
0.01649
—
—
31 Mar 2020
31 Mar 2020
0.01765
0.01765
—
—
30 Apr 2020
30 Apr 2020
0.01754
0.01754
—
—
31 May 2020
31 May 2020
0.01313
0.01313
—
—
30 Jun 2020
30 Jun 2020
0.01086
0.01086
—
—
31 Jul 2020
31 Jul 2020
0.01238
0.01238
—
—
31 Aug 2020
31 Aug 2020
0.01405
0.01405
—
—
30 Sep 2020
30 Sep 2020
0.01386
0.01386
—
—
30 Oct 2020
31 Oct 2020
0.01186
0.01186
—
—
30 Nov 2020
30 Nov 2020
0.01115
0.01115
—
—
31 Dec 2020
31 Dec 2020
0.01033
0.01033
—
—
29 Jan 2021
31 Jan 2021
0.00915
0.00915
—
—
26 Feb 2021
28 Feb 2021
0.01115
0.01115
—
—
31 Mar 2021
31 Mar 2021
0.01123
0.01123
—
—
30 Apr 2021
30 Apr 2021
0.01181
0.01181
—
—
28 May 2021
31 May 2021
0.01282
0.01282
—
—
30 Jun 2021
30 Jun 2021
0.01380
0.01380
—
—
30 Jul 2021
31 Jul 2021
0.01326
0.01326
—
—
31 Aug 2021
31 Aug 2021
0.01337
0.01337
—
—
30 Sep 2021
30 Sep 2021
0.01179
0.01179
—
—
29 Oct 2021
31 Oct 2021
0.00940
0.00940
—
—
30 Nov 2021
30 Nov 2021
0.01030
0.01030
—
—
31 Dec 2021
31 Dec 2021
0.01321
0.01321
—
—
31 Jan 2022
31 Jan 2022
0.01138
0.01138
—
—
28 Feb 2022
28 Feb 2022
0.01126
0.01126
—
—
31 Mar 2022
31 Mar 2022
0.01487
0.01487
—
—
29 Apr 2022
30 Apr 2022
0.01607
0.01607
—
—
31 May 2022
31 May 2022
0.02062
0.02062
—
—
30 Jun 2022
30 Jun 2022
0.01488
0.01488
—
—
29 Jul 2022
31 Jul 2022
0.01995
0.01995
—
—
31 Aug 2022
31 Aug 2022
0.02553
0.02553
—
—
30 Sep 2022
30 Sep 2022
0.01168
0.01168
—
—
31 Oct 2022
31 Oct 2022
0.01221
0.01221
—
—
30 Nov 2022
30 Nov 2022
0.01751
0.01751
—
—
30 Dec 2022
31 Dec 2022
0.02065
0.02065
—
—
31 Jan 2023
31 Jan 2023
0.01312
0.01312
—
—
28 Feb 2023
28 Feb 2023
0.01117
0.01117
—
—
31 Mar 2023
31 Mar 2023
0.02838
0.02838
—
—
28 Apr 2023
30 Apr 2023
0.02606
0.02606
—
—
31 May 2023
31 May 2023
0.02254
0.02254
—
—
30 Jun 2023
30 Jun 2023
0.02488
0.02488
—
—
31 Jul 2023
31 Jul 2023
0.02258
0.02258
—
—
31 Aug 2023
31 Aug 2023
0.02413
0.02413
—
—
29 Sep 2023
30 Sep 2023
0.02219
0.02219
—
—
31 Oct 2023
31 Oct 2023
0.02690
0.02690
—
—
30 Nov 2023
30 Nov 2023
0.02616
0.02616
—
—
29 Dec 2023
31 Dec 2023
0.02254
0.02254
—
—
31 Jan 2024
31 Jan 2024
0.02041
0.02041
—
—
29 Feb 2024
29 Feb 2024
0.02285
0.02285
—
—
28 Mar 2024
31 Mar 2024
0.03012
0.03012
—
—
30 Apr 2024
30 Apr 2024
0.03238
0.03238
—
—
31 May 2024
31 May 2024
0.03318
0.03318
—
—
28 Jun 2024
30 Jun 2024
0.02776
0.02776
—
—
31 Jul 2024
31 Jul 2024
0.02473
0.02473
—
—
30 Aug 2024
31 Aug 2024
0.02137
0.02137
—
—
30 Sep 2024
30 Sep 2024
0.02415
0.02415
—
—
31 Oct 2024
31 Oct 2024
0.02447
0.02447
—
—
29 Nov 2024
30 Nov 2024
0.02631
0.02631
—
—
31 Dec 2024
31 Dec 2024
0.02511
0.02511
—
—
31 Jan 2025
31 Jan 2025
0.02288
0.02288
—
—
28 Feb 2025
28 Feb 2025
0.02397
0.02397
—
—
31 Mar 2025
31 Mar 2025
0.03264
0.03264
—
—
30 Apr 2025
30 Apr 2025
0.03022
0.03022
—
—
30 May 2025
31 May 2025
0.02748
0.02748
—
—
30 Jun 2025
30 Jun 2025
0.02798
0.02798
—
—
Fund Facts
Fund Facts
(As of 30 Jun 2025)Net Fund Assets
$105.1 M
Benchmark
Bloomberg U.S. Government Intermediate Index
Morningstar Category
Short Government
Fund Symbol
LTURX
Share Class
R3
Share Class Inception Date
1 Jul 2003
Number of Holdings
143
Portfolio Turnover
32%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized)
2.70%
30-Day SEC Yield (Unsubsidized)
1.84%
Annualized Distribution Yield
2.76%
Characteristics
Characteristics
Portfolio
(As of 30 Jun 2025)Portfolio
Benchmark
Effective Duration
4.6 Yrs
3.5 Yrs
Average Effective Maturity
5.8 Yrs
3.9 Yrs
Portfolio
Benchmark
Weighted Average Coupon
2.8%
3.2%
Yield to Worst
4.5%
3.8%
Risk & Return Profile
Risk & Return Profile
(As of 30 Jun 2025)3y
5y
10y
Beta
1.10
1.06
0.90
R-Squared (%)
95.33
95.12
86.99
Standard Deviation (%)
4.79
4.10
3.10
Sharpe Ratio
-0.41
-0.63
-0.26
Information Ratio
-0.07
0.14
-0.29
Up Capture (%)
107.25
106.58
88.15
Down Capture (%)
112.63
104.10
92.64
Portfolio
Portfolio
Top Holdings
(As of 31 May 2025)Name
Ticker/Symbol
Weight %
United States Treasury Inflation Indexed Bonds
91282CDX6
6.3
Fannie Mae Pool
3140XMZX7
5.0
FARM 21-1 Mortgage Trust
30768WAA6
2.8
Caledonia Generating, LLC
129268AB4
2.6
United States Treasury Note/Bond
91282CNC1
2.5
Fannie Mae Pool
31418D2Y7
2.0
Freddie Mac Seasoned Credit Risk Transfer Trust 2017-4
35563PDD8
1.9
Fannie Mae Pool
3140XGAS8
1.9
United States Treasury Note/Bond
91282CDY4
1.6
United States Treasury Note/Bond
91282CGB1
1.5
Exposure Breakdown
Exposure Breakdown
(As of 30 Jun 2025)Sector Allocation
Fund (%)
Mortgage Passthrough
35.1
Collateralized Mortgage Obligation
27.4
Treasury-Domestic
19.5
Asset Backed Securities
4.6
Commercial Mortgage Backed Security
4.4
Agency Debenture
4.1
Cash & Cash Equivalents
3.0
Corporate
1.8
Credit Quality
Fund (%)
U.S. Government
97.0
Cash & Cash Equivalents
3.0
Maturity
Fund (%)
Year 1
2.1
Year 2
5.1
Year 3
11.0
Year 4
11.1
Year 5
20.7
Year 6
0.9
Year 7
10.7
Year 8
4.3
Year 9
6.3
Year 10+
24.8
Cash
3.0
Portfolio Managers
Portfolio Managers

Lon Erickson, CFA
Portfolio Manager and Managing Director
Lon Erickson is a portfolio manager for Thornburg Investment Management. He joined Thornburg in 2008 and was named a managing director and was promoted to portfolio manager in 2010. Prior to joining Thornburg Investment Management, Lon spent almost 11 years as an analyst for State Farm Insurance in the equity and corporate bond departments. Lon earned a bachelor’s degree in…
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Christian Hoffmann, CFA
Head of Fixed Income and Managing Director
Christian Hoffmann is head of fixed income and a portfolio manager for Thornburg Investment Management. He joined the firm in 2012 as a fixed income analyst and was promoted to associate portfolio manager in 2014. Christian was named a managing director in 2017, was promoted to portfolio manager in 2018, and to head of fixed income in 2024. Prior to…
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