Thornburg Investment Income Builder Fund

SYMBOL: TIBIX

Morningstar Rating • Info

Overall Morningstar Rating among 336 World Allocation funds, based on risk-adjusted returns for class I shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 5 stars, 5 stars and 5 stars among 336, 320 and 243 funds, as of 31 Mar 2025.

As of 31 Mar 2025

Fund Assets

$14.7 B

As of 31 Mar 2025

NAV

$28.19

As of 8 May 2025

Change

$-0.17

As of 8 May 2025

YTD NAV Performance

10.81%

As of 8 May 2025

Asset Category:

Multi-Asset

Fund Benchmark:

Investment Income Builder Blended Index

Portfolio Managers

Matt Burdett

Head of Equities and Managing Director

Brian McMahon

Vice Chairman, Chief Investment Strategist and Managing Director

Christian Hoffmann, CFA

Head of Fixed Income and Managing Director

Globally Diversified Income

Cultivating the growth of dividends for almost two decades

The Investment Income Builder Fund has been able to deliver a consistent income stream to clients while continuing to grow their principal.

We believe that the power of dividends combined with our active approach can serve two goals:

Help meet short-term funding needs, such as retirement income or foundation distributions.
Contribute significantly to long-term growth to help make a future income stream last.

To learn more, download our client-approved brochure or continue to explore the rest of the page.

Download

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

Overview

Why Invest in This Fund?

Global, diversified multi-asset portfolio of income-producing stocks and bonds that seeks to deliver an attractive and growing income stream.
Proven bottom-up fundamental research process to identify dividend-paying companies with strong cash flows that have both the ability and willingness to pay and grow their dividends over time.
Highly active, flexible approach that allows us to go anywhere in the world to seek income.

Investment Objective

The fund’s goal is to provide investors with a level of current income which exceeds the average yield on U.S. stocks generally, and which will grow, subject to periodic fluctuations, over the years on a per share basis.

Investment Approach

The strategy is a multi-asset portfolio of global dividend-paying stocks selected via a bottom-up, fundamentals and valuation-sensitive process. The strategy seeks to generate an attractive and growing income stream, with capital appreciation over time by building a portfolio of companies that have the ability and willingness to generate cash flow and distribute dividends to its shareholders.

Returns

(As of 31 Mar 2025)

YTD

10y

Inception

Total Return (%)

8.84

16.71

11.02

16.75

7.71

9.61

Investment Income Builder Blended Index (%)

-0.63

6.56

5.91

11.95

7.63

7.80

Morningstar Category Avg. (%)

2.12

5.31

3.49

9.33

4.61

—

Morningstar Quartile

—

Morningstar Quartile # of Funds

—

349

336

320

243

—

YTD

10y

Inception

Total Return (%)

10.26

19.77

13.24

15.17

7.51

9.64

Investment Income Builder Blended Index (%)

0.13

11.17

8.85

10.28

7.53

7.81

Morningstar Category Avg. (%)

2.12

5.31

3.49

9.33

4.61

—

Morningstar Quartile

—

Morningstar Quartile # of Funds

—

349

336

320

243

—

YTD

10y

Inception

Total Return (%)

8.84

16.71

36.82

116.91

110.25

671.79

Investment Income Builder Blended Index (%)

-0.63

6.56

18.80

75.82

108.54

432.73

YTD

10y

Inception

Total Return (%)

10.26

19.77

45.21

102.63

106.36

681.81

Investment Income Builder Blended Index (%)

0.13

11.17

28.97

63.08

106.69

436.81

2019

2020

2021

2022

2023

2024

Total Return (%)

17.95

-0.39

20.29

-8.03

18.17

13.38

Investment Income Builder Blended Index (%)

22.87

14.41

15.64

-16.67

19.05

14.12

Source: Confluence

Periods less than one year are not annualized.

Thornburg Investment Income Builder Fund's Blended Index is composed of 25% Bloomberg U.S. Aggregate Total Return Value USD and 75% MSCI World Net Total Return USD Index, rebalanced monthly.

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than quoted.

The maximum sales charge for the equity funds' A shares is 4.50%. C shares include a 1% contingent deferred sales charge (CDSC) for the first year only. There is no up-front sales charge for class I or R shares.

Morningstar quartile ranking for World Allocation category is based on total returns before sales charges.

Prior to inception of I and R share classes, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Share class inception dates: A shares, 24 Dec 2002; C shares, 24 Dec 2002; I shares, 3 Nov 2003; R3 shares, 1 Feb 2005; R4 shares, 1 Feb 2008; R5 shares, 1 Feb 2007; R6 shares, 10 Apr 2017.

Fund Fees

(As of 1 Feb 2025)

Gross Expense Ratio (%)

0.93

Net Expense Ratio (%)

0.93

Expense Ratios - Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

For more detailed information on fund expenses, please see the fund's prospectus.

Hypothetical Growth of $10,000

            Categories,I Shares,Investment Income Builder Blended Index
            2002-12-24,10000,10000
2002-12-31,9993,9966
2003-01-31,9855,9740
2003-02-28,9783,9646
2003-03-31,9923,9620
2003-04-30,10587,10280
2003-05-31,11268,10766
2003-06-30,11562,10900
2003-07-31,11670,10973
2003-08-31,11589,11168
2003-09-30,11871,11293
2003-10-31,12411,11768
2003-11-30,12497,11909
2003-12-31,13226,12498
2004-01-31,13435,12674
2004-02-29,13644,12867
2004-03-31,13711,12828
2004-04-30,13351,12547
2004-05-31,13377,12620
2004-06-30,13690,12832
2004-07-31,13433,12550
2004-08-31,13707,12651
2004-09-30,13982,12839
2004-10-31,14134,13102
2004-11-30,14671,13592
2004-12-31,15544,14012
2005-01-31,15372,13798
2005-02-28,15889,14105
2005-03-31,15767,13882
2005-04-30,15585,13702
2005-05-31,15703,13921
2005-06-30,16088,14031
2005-07-31,16493,14366
2005-08-31,16437,14494
2005-09-30,16741,14739
2005-10-31,16262,14441
2005-11-30,16626,14818
2005-12-31,16975,15100
2006-01-31,17810,15605
2006-02-28,17988,15601
2006-03-31,18571,15820
2006-04-30,19149,16173
2006-05-31,18655,15754
2006-06-30,18646,15759
2006-07-31,19026,15886
2006-08-31,19362,16256
2006-09-30,19512,16437
2006-10-31,20066,16917
2006-11-30,20656,17277
2006-12-31,21173,17515
2007-01-31,21386,17669
2007-02-28,21294,17668
2007-03-31,21961,17910
2007-04-30,22788,18527
2007-05-31,23631,18881
2007-06-30,23622,18758
2007-07-31,23368,18486
2007-08-31,23716,18532
2007-09-30,24933,19228
2007-10-31,26039,19713
2007-11-30,25209,19198
2007-12-31,25115,19025
2008-01-31,23280,18015
2008-02-29,23309,17943
2008-03-31,22970,17829
2008-04-30,23587,18523
2008-05-31,23654,18700
2008-06-30,21912,17578
2008-07-31,21583,17252
2008-08-31,21218,17112
2008-09-30,19397,15528
2008-10-31,16432,13228
2008-11-30,15788,12693
2008-12-31,16473,13117
2009-01-31,15494,12226
2009-02-28,14493,11276
2009-03-31,15136,11953
2009-04-30,16460,12973
2009-05-31,18230,13878
2009-06-30,18690,13851
2009-07-31,19875,14787
2009-08-31,20713,15283
2009-09-30,21590,15780
2009-10-31,21621,15589
2009-11-30,22153,16117
2009-12-31,22577,16271
2010-01-31,22279,15829
2010-02-28,22567,16011
2010-03-31,23522,16749
2010-04-30,23595,16795
2010-05-31,22087,15624
2010-06-30,21886,15283
2010-07-31,23295,16253
2010-08-31,23103,15850
2010-09-30,24263,16963
2010-10-31,25127,17452
2010-11-30,24620,17145
2010-12-31,25690,18044
2011-01-31,26147,18355
2011-02-28,26780,18848
2011-03-31,26804,18712
2011-04-30,27781,19367
2011-05-31,27505,19129
2011-06-30,27140,18888
2011-07-31,26790,18706
2011-08-31,25791,17786
2011-09-30,24446,16666
2011-10-31,25888,17964
2011-11-30,25609,17631
2011-12-31,25901,17672
2012-01-31,26632,18376
2012-02-29,27244,19048
2012-03-31,27268,19205
2012-04-30,27207,19095
2012-05-31,25778,17902
2012-06-30,26999,18588
2012-07-31,27619,18831
2012-08-31,27974,19192
2012-09-30,28506,19594
2012-10-31,28649,19505
2012-11-30,28549,19700
2012-12-31,28936,19971
2013-01-31,30356,20699
2013-02-28,30469,20750
2013-03-31,31258,21119
2013-04-30,32408,21671
2013-05-31,31765,21581
2013-06-30,30993,21098
2013-07-31,31592,21939
2013-08-31,30892,21560
2013-09-30,32193,22420
2013-10-31,33388,23124
2013-11-30,33341,23410
2013-12-31,33812,23749
2014-01-31,33040,23177
2014-02-28,34560,24078
2014-03-31,34908,24093
2014-04-30,35313,24329
2014-05-31,35952,24758
2014-06-30,36424,25093
2014-07-31,36371,24777
2014-08-31,37041,25255
2014-09-30,35901,24698
2014-10-31,35955,24878
2014-11-30,36276,25296
2014-12-31,35471,24996
2015-01-31,35684,24788
2015-02-28,37052,25819
2015-03-31,36709,25546
2015-04-30,37884,25972
2015-05-31,37625,26023
2015-06-30,36715,25499
2015-07-31,37226,25886
2015-08-31,34963,24592
2015-09-30,33428,23954
2015-10-31,35014,25378
2015-11-30,34707,25267
2015-12-31,33662,24913
2016-01-31,32624,23881
2016-02-29,32399,23790
2016-03-31,34201,25055
2016-04-30,34734,25377
2016-05-31,35142,25485
2016-06-30,35091,25386
2016-07-31,36008,26230
2016-08-31,36333,26239
2016-09-30,36340,26340
2016-10-31,35781,25907
2016-11-30,36199,26033
2016-12-31,36982,26510
2017-01-31,37134,27003
2017-02-28,37794,27610
2017-03-31,38376,27827
2017-04-30,38602,28189
2017-05-31,39482,28691
2017-06-30,39516,28766
2017-07-31,40374,29314
2017-08-31,40339,29410
2017-09-30,41172,29870
2017-10-31,41199,30298
2017-11-30,42227,30781
2017-12-31,42593,31128
2018-01-31,44018,32271
2018-02-28,41921,31192
2018-03-31,41577,30732
2018-04-30,42442,30940
2018-05-31,41929,31141
2018-06-30,41937,31120
2018-07-31,43672,31851
2018-08-31,43014,32198
2018-09-30,43682,32280
2018-10-31,41902,30439
2018-11-30,42660,30744
2018-12-31,40719,29131
2019-01-31,42559,30909
2019-02-28,43174,31601
2019-03-31,43644,32064
2019-04-30,45002,32919
2019-05-31,42673,31641
2019-06-30,44746,33304
2019-07-31,44523,33446
2019-08-31,44189,33149
2019-09-30,45606,33634
2019-10-31,46469,34301
2019-11-30,46795,35014
2019-12-31,48029,35794
2020-01-31,47303,35803
2020-02-29,44035,33694
2020-03-31,35589,30300
2020-04-30,38597,32918
2020-05-31,40005,34149
2020-06-30,40849,34880
2020-07-31,41818,36262
2020-08-31,42681,38006
2020-09-30,41250,37017
2020-10-31,40524,36124
2020-11-30,46217,39677
2020-12-31,47844,40952
2021-01-31,48600,40573
2021-02-28,50278,41207
2021-03-31,51969,42106
2021-04-30,52863,43659
2021-05-31,54129,44167
2021-06-30,53550,44738
2021-07-31,53624,45464
2021-08-31,54724,46291
2021-09-30,53276,44749
2021-10-31,55436,46647
2021-11-30,54827,45915
2021-12-31,57551,47358
2022-01-31,57893,45223
2022-02-28,56207,44239
2022-03-31,56401,44843
2022-04-30,53829,41623
2022-05-31,55798,41714
2022-06-30,51568,38840
2022-07-31,52603,41390
2022-08-31,51172,39800
2022-09-30,47086,36595
2022-10-31,50027,38448
2022-11-30,54218,40806
2022-12-31,52928,39461
2023-01-31,56175,41858
2023-02-28,55942,40833
2023-03-31,55865,42039
2023-04-30,57324,42655
2023-05-31,55713,42219
2023-06-30,57816,44097
2023-07-31,59444,45200
2023-08-31,58616,44318
2023-09-30,57714,42603
2023-10-31,56672,41508
2023-11-30,60047,44896
2023-12-31,62542,46979
2024-01-31,62792,47369
2024-02-29,62923,48708
2024-03-31,66130,49995
2024-04-30,65289,48286
2024-05-31,67863,50108
2024-06-30,67873,50991
2024-07-31,70455,51963
2024-08-31,72120,53180
2024-09-30,72201,54088
2024-10-31,71042,52948
2024-11-30,70804,54910
2024-12-31,70908,53612
2025-01-31,74015,55102
2025-02-28,76596,55108
2025-03-31,77179,53273
2025-04-30,78181,53681

Hypothetical Growth of $10,000

(As of 30 Apr 2025)

(Hypothetical Growth of $10,000 vs Investment Income Builder Blended Index)

                        Categories,I Shares,Investment Income Builder Blended Index
                        2024-04-30,10000,10000
2024-05-31,10396,10377
2024-06-30,10398,10560
2024-07-31,10793,10761
2024-08-31,11048,11013
2024-09-30,11061,11202
2024-10-31,10883,10965
2024-11-30,10847,11372
2024-12-31,10863,11103
2025-01-31,11339,11412
2025-02-28,11734,11413
2025-03-31,11823,11033
2025-04-30,11977,11117

                        Categories,I Shares,Investment Income Builder Blended Index
                        2022-04-30,10000,10000
2022-05-31,10367,10022
2022-06-30,9578,9331
2022-07-31,9770,9944
2022-08-31,9504,9562
2022-09-30,8745,8792
2022-10-31,9292,9237
2022-11-30,10070,9804
2022-12-31,9830,9480
2023-01-31,10434,10056
2023-02-28,10390,9810
2023-03-31,10376,10100
2023-04-30,10647,10248
2023-05-31,10348,10143
2023-06-30,10738,10594
2023-07-31,11041,10859
2023-08-31,10887,10647
2023-09-30,10720,10235
2023-10-31,10526,9972
2023-11-30,11153,10786
2023-12-31,11616,11287
2024-01-31,11663,11381
2024-02-29,11687,11702
2024-03-31,12283,12011
2024-04-30,12126,11601
2024-05-31,12604,12038
2024-06-30,12606,12251
2024-07-31,13086,12484
2024-08-31,13395,12776
2024-09-30,13410,12995
2024-10-31,13195,12721
2024-11-30,13151,13192
2024-12-31,13170,12880
2025-01-31,13747,13238
2025-02-28,14226,13240
2025-03-31,14335,12799
2025-04-30,14521,12897

                        Categories,I Shares,Investment Income Builder Blended Index
                        2020-04-30,10000,10000
2020-05-31,10367,10374
2020-06-30,10587,10596
2020-07-31,10838,11016
2020-08-31,11062,11546
2020-09-30,10691,11245
2020-10-31,10503,10974
2020-11-30,11978,12053
2020-12-31,12400,12441
2021-01-31,12596,12326
2021-02-28,13031,12518
2021-03-31,13469,12791
2021-04-30,13701,13263
2021-05-31,14029,13417
2021-06-30,13879,13591
2021-07-31,13898,13811
2021-08-31,14183,14063
2021-09-30,13808,13594
2021-10-31,14368,14171
2021-11-30,14210,13948
2021-12-31,14916,14387
2022-01-31,15004,13738
2022-02-28,14567,13439
2022-03-31,14618,13623
2022-04-30,13951,12645
2022-05-31,14461,12672
2022-06-30,13365,11799
2022-07-31,13634,12574
2022-08-31,13263,12091
2022-09-30,12203,11117
2022-10-31,12966,11680
2022-11-30,14052,12396
2022-12-31,13717,11988
2023-01-31,14559,12716
2023-02-28,14499,12405
2023-03-31,14479,12771
2023-04-30,14857,12958
2023-05-31,14439,12826
2023-06-30,14985,13396
2023-07-31,15406,13731
2023-08-31,15192,13463
2023-09-30,14958,12942
2023-10-31,14688,12610
2023-11-30,15563,13639
2023-12-31,16209,14272
2024-01-31,16274,14390
2024-02-29,16308,14797
2024-03-31,17139,15188
2024-04-30,16921,14669
2024-05-31,17588,15222
2024-06-30,17591,15491
2024-07-31,18260,15786
2024-08-31,18692,16155
2024-09-30,18713,16431
2024-10-31,18412,16085
2024-11-30,18351,16681
2024-12-31,18378,16287
2025-01-31,19183,16739
2025-02-28,19852,16741
2025-03-31,20003,16184
2025-04-30,20263,16308

                        Categories,I Shares,Investment Income Builder Blended Index
                        2015-04-30,10000,10000
2015-05-31,9931,10020
2015-06-30,9691,9818
2015-07-31,9826,9967
2015-08-31,9229,9469
2015-09-30,8824,9223
2015-10-31,9242,9771
2015-11-30,9161,9728
2015-12-31,8885,9592
2016-01-31,8611,9195
2016-02-29,8552,9160
2016-03-31,9028,9647
2016-04-30,9168,9771
2016-05-31,9276,9813
2016-06-30,9262,9774
2016-07-31,9504,10099
2016-08-31,9590,10103
2016-09-30,9592,10142
2016-10-31,9444,9975
2016-11-30,9555,10024
2016-12-31,9762,10207
2017-01-31,9802,10397
2017-02-28,9976,10631
2017-03-31,10130,10714
2017-04-30,10189,10854
2017-05-31,10422,11047
2017-06-30,10430,11076
2017-07-31,10657,11287
2017-08-31,10648,11324
2017-09-30,10868,11501
2017-10-31,10875,11666
2017-11-30,11146,11852
2017-12-31,11243,11985
2018-01-31,11619,12425
2018-02-28,11065,12010
2018-03-31,10974,11833
2018-04-30,11203,11913
2018-05-31,11067,11990
2018-06-30,11069,11982
2018-07-31,11528,12264
2018-08-31,11354,12397
2018-09-30,11530,12429
2018-10-31,11060,11720
2018-11-30,11260,11837
2018-12-31,10748,11216
2019-01-31,11234,11901
2019-02-28,11396,12167
2019-03-31,11520,12346
2019-04-30,11879,12675
2019-05-31,11264,12183
2019-06-30,11811,12823
2019-07-31,11752,12878
2019-08-31,11664,12763
2019-09-30,12038,12950
2019-10-31,12266,13207
2019-11-30,12352,13481
2019-12-31,12678,13782
2020-01-31,12486,13785
2020-02-29,11623,12973
2020-03-31,9394,11667
2020-04-30,10188,12674
2020-05-31,10560,13148
2020-06-30,10782,13430
2020-07-31,11038,13962
2020-08-31,11266,14633
2020-09-30,10888,14253
2020-10-31,10696,13909
2020-11-30,12199,15277
2020-12-31,12629,15768
2021-01-31,12828,15622
2021-02-28,13271,15866
2021-03-31,13718,16212
2021-04-30,13954,16810
2021-05-31,14288,17005
2021-06-30,14135,17225
2021-07-31,14154,17505
2021-08-31,14445,17823
2021-09-30,14063,17230
2021-10-31,14633,17961
2021-11-30,14472,17679
2021-12-31,15191,18234
2022-01-31,15281,17412
2022-02-28,14836,17033
2022-03-31,14887,17266
2022-04-30,14208,16026
2022-05-31,14728,16061
2022-06-30,13612,14955
2022-07-31,13885,15937
2022-08-31,13507,15324
2022-09-30,12429,14090
2022-10-31,13205,14804
2022-11-30,14311,15712
2022-12-31,13971,15194
2023-01-31,14828,16117
2023-02-28,14766,15722
2023-03-31,14746,16186
2023-04-30,15131,16423
2023-05-31,14706,16256
2023-06-30,15261,16979
2023-07-31,15691,17403
2023-08-31,15472,17064
2023-09-30,15234,16403
2023-10-31,14959,15982
2023-11-30,15850,17286
2023-12-31,16508,18088
2024-01-31,16574,18239
2024-02-29,16609,18754
2024-03-31,17455,19249
2024-04-30,17233,18592
2024-05-31,17913,19293
2024-06-30,17916,19633
2024-07-31,18597,20007
2024-08-31,19037,20476
2024-09-30,19058,20826
2024-10-31,18752,20387
2024-11-30,18689,21142
2024-12-31,18717,20642
2025-01-31,19537,21216
2025-02-28,20218,21218
2025-03-31,20372,20512
2025-04-30,20636,20669

The Hypothetical Growth graph compares a hypothetical investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Distributions

            Categories,Total ($)
            2003-03-31,0
2003-06-30,0
2003-09-30,0
2003-12-31,0.14500
2004-03-31,0.11700
2004-06-30,0.13600
2004-09-30,0.16000
2004-11-17,0.00073
2004-12-31,0.22700
2005-03-31,0.11589
2005-06-30,0.14193
2005-09-30,0.18030
2005-11-17,0.33324
2005-12-31,0.29711
2006-03-31,0.14446
2006-06-30,0.17964
2006-09-30,0.21220
2006-11-17,0.51623
2006-12-31,0.35020
2007-03-31,0.16190
2007-06-30,0.20630
2007-09-30,0.23570
2007-11-19,0.46552
2007-12-31,0.39029
2008-03-31,0.19754
2008-06-30,0.23790
2008-09-30,0.27987
2008-12-31,0.38343
2009-03-31,0.19159
2009-06-30,0.25623
2009-09-30,0.29438
2009-12-31,0.36189
2010-03-31,0.21267
2010-06-30,0.26686
2010-09-30,0.33574
2010-12-31,0.37783
2011-03-31,0.22726
2011-06-30,0.27880
2011-09-30,0.33844
2011-12-31,0.39262
2012-03-31,0.23093
2012-06-30,0.27509
2012-09-30,0.30097
2012-12-31,0.37770
2013-03-31,0.23086
2013-06-30,0.27152
2013-09-30,0.26844
2013-12-31,0.26418
2014-03-31,0.24253
2014-06-30,0.25914
2014-09-30,0.28921
2014-12-31,0.27963
2015-03-31,0.18176
2015-06-30,0.21845
2015-09-30,0.21839
2015-12-31,0.27008
2016-03-31,0.18533
2016-06-30,0.20181
2016-09-30,0.21226
2016-12-31,0.23274
2017-03-31,0.18636
2017-06-30,0.21816
2017-09-30,0.27894
2017-12-31,0.31589
2018-03-31,0.19613
2018-06-30,0.21571
2018-09-30,0.25558
2018-12-31,0.29593
2019-03-31,0.20347
2019-06-30,0.22974
2019-09-30,0.26420
2019-12-31,0.31688
2020-03-31,0.20303
2020-06-30,0.20124
2020-09-30,0.22194
2020-12-31,0.30316
2021-03-31,0.23677
2021-06-30,0.29033
2021-09-30,0.32854
2021-12-31,0.38840
2022-01-31,0.06563
2022-03-31,0.21420
2022-06-30,0.26605
2022-09-30,0.30538
2022-12-31,0.40490
2023-03-31,0.22265
2023-06-30,0.26537
2023-09-30,0.30469
2023-12-31,0.38383
2024-03-31,0.23996
2024-06-30,0.27226
2024-09-30,0.30793
2024-11-21,0.22099
2024-12-31,0.42058
2025-03-31,0.24077

            Ex-Date, Payable Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
2003-03-31,1049068800,0,0,0,0
2003-06-30,1056931200,0,0,0,0
2003-09-30,1064880000,0,0,0,0
2003-12-31,1072828800,0.14500,0.14500,0,0
2004-03-31,1080691200,0.11700,0.11700,0,0
2004-06-30,1088553600,0.13600,0.13600,0,0
2004-09-30,1096502400,0.16000,0.16000,0,0
2004-11-17,1100649600,0.00073,0,0.00063,0.00010
2004-12-31,1104451200,0.22700,0.22700,0,0
2005-03-31,1112227200,0.11589,0.11589,0,0
2005-06-30,1120089600,0.14193,0.14193,0,0
2005-09-30,1128038400,0.18030,0.18030,0,0
2005-11-17,1132185600,0.33324,0,0.04834,0.28490
2005-12-31,1135987200,0.29711,0.29711,0,0
2006-03-31,1143763200,0.14446,0.14446,0,0
2006-06-28,1151625600,0.17964,0.17964,0,0
2006-09-27,1159574400,0.21220,0.21220,0,0
2006-11-17,1163721600,0.51623,0,0.19367,0.32256
2006-12-26,1167523200,0.35020,0.35020,0,0
2007-03-26,1175299200,0.16190,0.16190,0,0
2007-06-26,1183161600,0.20630,0.20630,0,0
2007-09-26,1191110400,0.23570,0.23570,0,0
2007-11-19,1195430400,0.46552,0,0.24776,0.21776
2007-12-26,1199059200,0.39029,0.39029,0,0
2008-03-26,1206921600,0.19754,0.19754,0,0
2008-06-26,1214784000,0.23790,0.23790,0,0
2008-09-26,1222732800,0.27987,0.27987,0,0
2008-12-26,1230681600,0.38343,0.38343,0,0
2009-03-26,1238457600,0.19159,0.19159,0,0
2009-06-26,1246320000,0.25623,0.25623,0,0
2009-09-25,1254268800,0.29438,0.29438,0,0
2009-12-24,1262217600,0.36189,0.36189,0,0
2010-03-26,1269993600,0.21267,0.21267,0,0
2010-06-25,1277856000,0.26686,0.26686,0,0
2010-09-24,1285804800,0.33574,0.33574,0,0
2010-12-27,1293753600,0.37783,0.37783,0,0
2011-03-25,1301529600,0.22726,0.22726,0,0
2011-06-24,1309392000,0.27880,0.27880,0,0
2011-09-26,1317340800,0.33844,0.33844,0,0
2011-12-23,1325289600,0.39262,0.39262,0,0
2012-03-26,1333152000,0.23093,0.23093,0,0
2012-06-25,1341014400,0.27509,0.27509,0,0
2012-09-24,1348963200,0.30097,0.30097,0,0
2012-12-24,1356912000,0.37770,0.37770,0,0
2013-03-22,1364688000,0.23086,0.23086,0,0
2013-06-24,1372550400,0.27152,0.27152,0,0
2013-09-24,1380499200,0.26844,0.26844,0,0
2013-12-24,1388448000,0.26418,0.26418,0,0
2014-03-25,1396224000,0.24253,0.24253,0,0
2014-06-24,1404086400,0.25914,0.25914,0,0
2014-09-24,1412035200,0.28921,0.28921,0,0
2014-12-24,1419984000,0.27963,0.27963,0,0
2015-03-25,1427760000,0.18176,0.18176,0,0
2015-06-24,1435622400,0.21845,0.21845,0,0
2015-09-24,1443571200,0.21839,0.21839,0,0
2015-12-24,1451520000,0.27008,0.27008,0,0
2016-03-24,1459382400,0.18533,0.18533,0,0
2016-06-24,1467244800,0.20181,0.20181,0,0
2016-09-26,1475193600,0.21226,0.21226,0,0
2016-12-23,1483142400,0.23274,0.23274,0,0
2017-03-24,1490918400,0.18636,0.18636,0,0
2017-06-23,1498780800,0.21816,0.21816,0,0
2017-09-22,1506729600,0.27894,0.27894,0,0
2017-12-27,1514678400,0.31589,0.31589,0,0
2018-03-23,1522454400,0.19613,0.19613,0,0
2018-06-22,1530316800,0.21571,0.21571,0,0
2018-09-21,1538265600,0.25558,0.25558,0,0
2018-12-26,1546214400,0.29593,0.29593,0,0
2019-03-22,1553990400,0.20347,0.20347,0,0
2019-06-21,1561852800,0.22974,0.22974,0,0
2019-09-20,1569801600,0.26420,0.26420,0,0
2019-12-27,1577750400,0.31688,0.31688,0,0
2020-03-19,1585612800,0.20303,0.20303,0,0
2020-06-18,1593475200,0.20124,0.20124,0,0
2020-09-17,1601424000,0.22194,0.22194,0,0
2020-12-28,1609372800,0.30316,0.30316,0,0
2021-03-18,1617148800,0.23677,0.23677,0,0
2021-06-17,1625011200,0.29033,0.29033,0,0
2021-09-16,1632960000,0.32854,0.32854,0,0
2021-12-27,1640908800,0.38840,0.38840,0,0
2022-01-06,1643587200,0.06563,0.06563,0,0
2022-03-17,1648684800,0.21420,0.21420,0,0
2022-06-16,1656547200,0.26605,0.26605,0,0
2022-09-15,1664496000,0.30538,0.30538,0,0
2022-12-27,1672444800,0.40490,0.40490,0,0
2023-03-16,1680220800,0.22265,0.22265,0,0
2023-06-15,1688083200,0.26537,0.26537,0,0
2023-09-14,1696032000,0.30469,0.30469,0,0
2023-12-26,1703980800,0.38383,0.38383,0,0
2024-03-21,1711843200,0.23996,0.23996,0,0
2024-06-20,1719705600,0.27226,0.27226,0,0
2024-09-19,1727654400,0.30793,0.30793,0,0
2024-11-21,1732147200,0.22099,0,0.05531,0.16568
2024-12-26,1735603200,0.42058,0.42058,0,0
2025-03-20,1743379200,0.24077,0.24077,0,0

Distributions

(As of 20 Mar 2025)

Ex-Date

Payable Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

31 Mar 2003

—

30 Jun 2003

—

30 Sep 2003

—

31 Dec 2003

0.14500

—

31 Mar 2004

0.11700

—

30 Jun 2004

0.13600

—

30 Sep 2004

0.16000

—

17 Nov 2004

0.00073

—

0.00063

0.00010

31 Dec 2004

0.22700

—

31 Mar 2005

0.11589

—

30 Jun 2005

0.14193

—

30 Sep 2005

0.18030

—

17 Nov 2005

0.33324

—

0.04834

0.28490

31 Dec 2005

0.29711

—

31 Mar 2006

0.14446

—

28 Jun 2006

30 Jun 2006

0.17964

—

27 Sep 2006

30 Sep 2006

0.21220

—

17 Nov 2006

0.51623

—

0.19367

0.32256

26 Dec 2006

31 Dec 2006

0.35020

—

26 Mar 2007

31 Mar 2007

0.16190

—

26 Jun 2007

30 Jun 2007

0.20630

—

26 Sep 2007

30 Sep 2007

0.23570

—

19 Nov 2007

0.46552

—

0.24776

0.21776

26 Dec 2007

31 Dec 2007

0.39029

—

26 Mar 2008

31 Mar 2008

0.19754

—

26 Jun 2008

30 Jun 2008

0.23790

—

26 Sep 2008

30 Sep 2008

0.27987

—

26 Dec 2008

31 Dec 2008

0.38343

—

26 Mar 2009

31 Mar 2009

0.19159

—

26 Jun 2009

30 Jun 2009

0.25623

—

25 Sep 2009

30 Sep 2009

0.29438

—

24 Dec 2009

31 Dec 2009

0.36189

—

26 Mar 2010

31 Mar 2010

0.21267

—

25 Jun 2010

30 Jun 2010

0.26686

—

24 Sep 2010

30 Sep 2010

0.33574

—

27 Dec 2010

31 Dec 2010

0.37783

—

25 Mar 2011

31 Mar 2011

0.22726

—

24 Jun 2011

30 Jun 2011

0.27880

—

26 Sep 2011

30 Sep 2011

0.33844

—

23 Dec 2011

31 Dec 2011

0.39262

—

26 Mar 2012

31 Mar 2012

0.23093

—

25 Jun 2012

30 Jun 2012

0.27509

—

24 Sep 2012

30 Sep 2012

0.30097

—

24 Dec 2012

31 Dec 2012

0.37770

—

22 Mar 2013

31 Mar 2013

0.23086

—

24 Jun 2013

30 Jun 2013

0.27152

—

24 Sep 2013

30 Sep 2013

0.26844

—

24 Dec 2013

31 Dec 2013

0.26418

—

25 Mar 2014

31 Mar 2014

0.24253

—

24 Jun 2014

30 Jun 2014

0.25914

—

24 Sep 2014

30 Sep 2014

0.28921

—

24 Dec 2014

31 Dec 2014

0.27963

—

25 Mar 2015

31 Mar 2015

0.18176

—

24 Jun 2015

30 Jun 2015

0.21845

—

24 Sep 2015

30 Sep 2015

0.21839

—

24 Dec 2015

31 Dec 2015

0.27008

—

24 Mar 2016

31 Mar 2016

0.18533

—

24 Jun 2016

30 Jun 2016

0.20181

—

26 Sep 2016

30 Sep 2016

0.21226

—

23 Dec 2016

31 Dec 2016

0.23274

—

24 Mar 2017

31 Mar 2017

0.18636

—

23 Jun 2017

30 Jun 2017

0.21816

—

22 Sep 2017

30 Sep 2017

0.27894

—

27 Dec 2017

31 Dec 2017

0.31589

—

23 Mar 2018

31 Mar 2018

0.19613

—

22 Jun 2018

30 Jun 2018

0.21571

—

21 Sep 2018

30 Sep 2018

0.25558

—

26 Dec 2018

31 Dec 2018

0.29593

—

22 Mar 2019

31 Mar 2019

0.20347

—

21 Jun 2019

30 Jun 2019

0.22974

—

20 Sep 2019

30 Sep 2019

0.26420

—

27 Dec 2019

31 Dec 2019

0.31688

—

19 Mar 2020

31 Mar 2020

0.20303

—

18 Jun 2020

30 Jun 2020

0.20124

—

17 Sep 2020

30 Sep 2020

0.22194

—

28 Dec 2020

31 Dec 2020

0.30316

—

18 Mar 2021

31 Mar 2021

0.23677

—

17 Jun 2021

30 Jun 2021

0.29033

—

16 Sep 2021

30 Sep 2021

0.32854

—

27 Dec 2021

31 Dec 2021

0.38840

—

6 Jan 2022

31 Jan 2022

0.06563

—

17 Mar 2022

31 Mar 2022

0.21420

—

16 Jun 2022

30 Jun 2022

0.26605

—

15 Sep 2022

30 Sep 2022

0.30538

—

27 Dec 2022

31 Dec 2022

0.40490

—

16 Mar 2023

31 Mar 2023

0.22265

—

15 Jun 2023

30 Jun 2023

0.26537

—

14 Sep 2023

30 Sep 2023

0.30469

—

26 Dec 2023

31 Dec 2023

0.38383

—

21 Mar 2024

31 Mar 2024

0.23996

—

20 Jun 2024

30 Jun 2024

0.27226

—

19 Sep 2024

30 Sep 2024

0.30793

—

21 Nov 2024

0.22099

—

0.05531

0.16568

26 Dec 2024

31 Dec 2024

0.42058

—

20 Mar 2025

31 Mar 2025

0.24077

—

Fund Facts

(As of 31 Mar 2025)

Net Fund Assets

$14.7 B

Benchmark

Investment Income Builder Blended Index

Morningstar Category

World Allocation

Fund Symbol

TIBIX

Share Class

Share Class Inception Date

3 Nov 2003

Number of Holdings

341

Portfolio Turnover

25%

Distribution Frequency

Quarterly

30-Day SEC Yield (Subsidized)

3.31%

30-Day SEC Yield (Unsubsidized)

3.31%

Characteristics

Portfolio

(As of 31 Mar 2025)

Portfolio

Benchmark

Weighted Average Market Cap

$161.9 B

$649.9 B

Median Market Cap

$51.9 B

$22.5 B

Price to Earnings - Forward 1YR

11.5x

18.4x

Price to Earnings - Trailing 12 Months

13.7x

22.4x

Price to Cash Flow

5.2x

13.4x

Price to Book Value

1.5x

3.4x

Return on Assets - 5 YR

4.6%

10.0%

Portfolio

Benchmark

Return on Equity - 5 YR

15.2%

34.3%

Historical 3YR Sales Growth

4.8%

15.2%

Active Share

91.5%

—

Effective Duration

4.2 Yrs

6.0 Yrs

Average Effective Maturity

6.7 Yrs

8.3 Yrs

Weighted Average Coupon

2.9%

3.5%

Yield to Worst

8.0%

4.6%

Risk & Return profile

(As of 31 Mar 2025)

10y

Annualized Alpha (%)

6.24

6.43

0.49

Beta

0.79

0.84

0.97

R-Squared (%)

73.53

74.05

77.11

Standard Deviation (%)

12.74

12.89

13.11

Sharpe Ratio

0.52

1.10

0.44

Information Ratio

0.72

0.71

0.02

Up Capture (%)

95.42

96.74

95.78

Down Capture (%)

67.87

64.78

92.80

Past performance does not guarantee future results.

Risk & Return Profile metrics are based on the I share class.

Portfolio

Top Holdings

(As of 31 Mar 2025)

Name

Ticker/Symbol

Sector

Weight %

Orange S.A.

ORA

Communication Services

6.2

AT&T, Inc.

Communication Services

4.6

BNP Paribas S.A.

BNP

Financials

3.7

TotalEnergies SE

TTE

Energy

3.6

NN Group N.V.

Financials

3.5

Taiwan Semiconductor Manufacturing Co. Ltd.

2330

Information Technology

3.4

Broadcom, Inc.

AVGO

Information Technology

3.4

Citigroup, Inc.

Financials

3.3

Enel SpA

ENEL

Utilities

3.2

Tesco plc

TSCO

Consumer Staples

2.4

Name

Ticker/Symbol

Sector

Weight %

Telefonica Emisiones S.A.

87938WAC7

SE_CORPORATE_BOND

0.6

Digicel Intermediate Holdings Ltd. / Digicel International Finance Ltd. / Difl US

ZF7746216

SE_CORPORATE_BOND

0.3

Transcontinental Gas Pipe Line Co., LLC

893574AH6

SE_CORPORATE_BOND

0.2

Deutsche Telekom International Finance BV

25156PAC7

SE_CORPORATE_BOND

0.2

The Glebe Funding Trust 2024-1

37735RAA2

SE_COLLAT_MORTGAGE_OBLIGATION

0.2

KeHE Distributors, LLC/ KeHE Finance Corp. / NextWave Distribution, Inc.

487526AC9

SE_CORPORATE_BOND

0.2

Kinder Morgan, Inc.

49456BAG6

SE_CORPORATE_BOND

0.2

Imagefirst Holdings, LLC

45249TAR3

SE_LOAN_PARTICIPATION

0.1

Imagefirst Holdings, LLC

45249TAN2

SE_LOAN_PARTICIPATION

0.1

College Ave Student Loans 2023-A, LLC

193938107

Asset Backed Securities

0.1

Download Holdings

Portfolio holdings are subject to change daily.

Exposure Breakdown

(As of 31 Mar 2025)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Financials

22.5

17.3

Communication Services

22.4

7.9

Health Care

11.8

11.1

Information Technology

11.5

23.6

Utilities

9.7

2.7

Energy

9.3

4.1

Industrials

4.0

11.1

Consumer Staples

4.0

6.5

Materials

2.3

3.4

Consumer Discretionary

2.1

10.2

Real Estate

0.3

2.2

Sector Allocation

Fund (%)

Financials

22.5

Communication Services

22.4

Health Care

11.8

Information Technology

11.5

Utilities

9.7

Energy

9.3

Industrials

4.0

Consumer Staples

4.0

Materials

2.3

Consumer Discretionary

2.1

Real Estate

0.3

Top 10 Industries

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Telecommunication Services

22.1

1.5

Banks

11.6

6.4

Pharmaceuticals, Biotechnology & Life Sciences

10.4

7.1

Utilities

9.6

2.7

Energy

9.4

4.1

Semiconductors & Semiconductor Equipment

7.9

7.7

Insurance

6.1

3.6

Financial Services

5.4

7.4

Technology Hardware & Equipment

3.3

6.6

Consumer Staples Distribution & Retail

3.1

1.9

Top 10 Industries

Fund (%)

Telecommunication Services

22.1

Banks

11.6

Pharmaceuticals, Biotechnology & Life Sciences

10.4

Utilities

9.6

Energy

9.4

Semiconductors & Semiconductor Equipment

7.9

Insurance

6.1

Financial Services

5.4

Technology Hardware & Equipment

3.3

Consumer Staples Distribution & Retail

3.1

Top 10 Countries

Fund (%)

Benchmark (%)

Region

Portfolio

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

United States

33.1

77.5

North America

France

15.5

2.2

Europe ex UK

United Kingdom

10.8

3.1

Germany

5.2

1.9

Europe ex UK

Italy

5.0

0.6

Europe ex UK

Switzerland

4.8

1.9

Europe ex UK

Netherlands

4.7

0.9

Europe ex UK

Taiwan

3.4

—

Asia Pacific ex Japan

Spain

2.5

0.6

Europe ex UK

Canada

2.5

2.6

North America

Top 10 Countries

Fund (%)

United States

33.1

France

15.5

United Kingdom

10.8

Germany

5.2

Italy

5.0

Switzerland

4.8

Netherlands

4.7

Taiwan

3.4

Spain

2.5

Canada

2.5

Composition

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

90%

Equity

85.9

75.0

Fixed Income

9.7

25.0

Cash & Cash Equivalents

4.1

—

Currency Forward

0.3

—

Composition

Fund (%)

Equity

85.9

Fixed Income

9.7

Cash & Cash Equivalents

4.1

Currency Forward

0.3

Capitalization

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Unassigned

0.0

—

Large Cap (> $12 B)

94.1

96.8

Mid Cap ($2.5 to $12 B)

4.0

3.2

Small Cap (< $2.5 B)

1.9

—

Capitalization

Fund (%)

Unassigned

0.0

Large Cap (> $12 B)

94.1

Mid Cap ($2.5 to $12 B)

4.0

Small Cap (< $2.5 B)

1.9

Credit Quality

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

AAA

5.4

3.2

1.4

4.2

4.6

11.3

BBB

35.3

11.2

23.5

0.0

11.1

—

CCC

0.1

—

Not Rated

18.6

—

Credit Quality

Fund (%)

AAA

5.4

1.4

4.6

BBB

35.3

23.5

11.1

CCC

0.1

Not Rated

18.6

Maturity

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

Year 1

13.1

1.2

Year 2

9.9

12.0

Year 3

10.2

10.5

Year 4

14.0

9.2

Year 5

9.7

10.3

Year 6

7.2

6.0

Year 7

7.8

Year 8

2.1

5.7

Year 9

4.2

6.7

Year 10+

21.8

30.6

Maturity

Fund (%)

Year 1

13.1

Year 2

9.9

Year 3

10.2

Year 4

14.0

Year 5

9.7

Year 6

7.2

Year 7

7.8

Year 8

2.1

Year 9

4.2

Year 10+

21.8

Sector, Industry, and Market Capitalization are based on the portfolio's equity holdings. Credit Quality and Maturity are based on the portfolio’s fixed income holdings. Geography and Asset Class are based on the full portfolio.

Credit quality ratings use the highest rating available from either S&P Global Ratings or Moody's Investors Service. Unrated securities are evaluated by the firm using available data and their own analysis that may be similar to that of a nationally recognized rating agency; however, such determination is not equivalent to a national agency credit rating. "NR" = Not Rated.

Holdings with the Geography breakdown are classified by country of risk as determined by MSCI and Bloomberg.

Cash includes cash and cash equivalents. Weights are percentages of total portfolio unless otherwise noted.

The percentages may not add up to 100 due to rounding.

Portfolio Managers

Matt Burdett

Head of Equities and Managing Director

Matt Burdett is head of equities and a portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager. Matt was named a managing director and was promoted to portfolio manager in 2018 and to head of equities in 2024. Matt spent several years as a senior vice president and portfolio manager at PIMCO,…

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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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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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Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Financial Statements

Semi-Annual Report

Prospectus

Statement of Additional Information (SAI)

Annual TSR

Important Information

This communication is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments outside the United States, especially in emerging markets, including currency fluctuations, illiquidity, volatility, and political and economic risks. Investments in small- and mid-capitalization companies may increase the risk of greater price fluctuations. Portfolios investing in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The value of bonds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

The performance of any index is not indicative of the performance of any particular investment. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. Investors may not make direct investments into any index.

Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment losses.

Neither the payment of, or increase in, dividends is guaranteed.

A bond credit rating assesses the financial ability of a debt issuer to make timely payments of principal and interest. Ratings of AAA (the highest), AA, A, and BBB are investment-grade quality. Ratings of BB, B, CCC, CC, C and D (the lowest) are considered below investment grade, speculative grade, or junk bonds.

Credit quality ratings for Thornburg Investment Income Builder used ratings from Moody's Investors Service. Where Moody's ratings are not available, we have used S&P Global Ratings. Where neither rating is available, we have used ratings from other nationally recognized statistical rating organizations (NRSROs).

Class R shares are limited to retirement platforms only.

Class I shares may not be available to all investors. Minimum investments for the I share class may be higher than those for other classes.

There is no guarantee that the Fund will meet its investment objectives.

To determine a fund's Morningstar Rating™, funds and other managed products with at least a three-year history are ranked in their categories by their Morningstar Risk-Adjusted Return scores. The top 10% receive 5 stars; the next 22.5%, 4 stars; the middle 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10% receive 1 star. The Risk-Adjusted Return accounts for variation in a managed product's monthly excess performance (excluding sales charges), placing more emphasis on downward variations and rewarding consistent performance. Other share classes may have different performance characteristics.

© 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities LLC.

Thornburg Investment Management, Inc. mutual funds are sold through investment professionals including investment advisors, brokerage firms, bank trust departments, trust companies and certain other financial intermediaries. Thornburg Securities LLC (TSL) does not act as broker of record for investors.

“Bloomberg®” and the Bloomberg index(es) mentioned in this piece are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Thornburg Investment Management. Bloomberg is not affiliated with Thornburg, and Bloomberg does not approve, endorse, review, or recommend Thornburg. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Thornburg.

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Thornburg Investment Income Builder Fund

Portfolio Managers

Globally Diversified Income

Cultivating the growth of dividends for almost two decades

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Hypothetical Growth of $10,000

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

Matt Burdett

Brian McMahon

Christian Hoffmann, CFA

Literature

Important Information

More Insights

FOMC Update: Inflation Risks and Tariff Uncertainty in Focus

Investor Spotlight: The Municipal Bond Tax Exemption

International Equity: The Power of Global Diversification

A Time for Active Fixed Income

The Next Market Shock? Key Risk Factors Investors Must Watch

Fixed Income in Focus—Yield Potential Amid Narrow Spreads

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Create an account to save this article or product.

Thornburg Investment Income Builder Fund

Portfolio Managers

Globally Diversified Income

Cultivating the growth of dividends for almost two decades

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Hypothetical Growth of $10,000

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

Matt Burdett

Brian McMahon

Christian Hoffmann, CFA

Literature

Important Information

More Insights

FOMC Update: Inflation Risks and Tariff Uncertainty in Focus

Investor Spotlight: The Municipal Bond Tax Exemption

International Equity: The Power of Global Diversification

A Time for Active Fixed Income

The Next Market Shock? Key Risk Factors Investors Must Watch

Fixed Income in Focus—Yield Potential Amid Narrow Spreads