Thornburg Investment Income Builder Fund

SYMBOL: TIBIX

Morningstar Rating • Info

Overall Morningstar Rating among 404 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, 3 stars, 4 stars and 4 stars among 404, 353 and 251 funds, as of 31 Oct 2022.

As of 31 Oct 2022

Fund Assets

$9.8 B

As of 31 Oct 2022

NAV

$22.10

As of 30 Nov 2022

Change

$0.37

As of 30 Nov 2022

YTD NAV Performance

-5.79%

As of 30 Nov 2022

Asset Category:

Multi-Asset

Fund Benchmark:

Investment Income Builder Blend

Portfolio Managers

Matt Burdett

Portfolio Manager and Managing Director

Ben Kirby, CFA

Co-Head of Investments and Managing Director

Brian McMahon

Vice Chairman and Chief Investment Strategist

Jason Brady, CFA

President and CEO

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 30 Sep 2022)

YTD

10y

Inception

Total Return (%)

-18.18

-11.61

1.07

2.72

5.15

8.15

Investment Income Builder Blend (%)

-22.73

-18.22

2.85

4.14

6.45

6.78

Morningstar Category Avg. (%)

-18.54

-15.7

0.46

1.32

3.45

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return (%)

-5.79

-1.06

5.04

5.13

6.63

8.85

Investment Income Builder Blend (%)

-13.83

-11.13

5.24

5.80

7.55

7.31

Morningstar Category Avg. (%)

-15.69

-15.24

1.15

1.91

3.89

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return (%)

-18.18

-11.61

3.25

14.37

65.18

370.86

Investment Income Builder Blend (%)

-22.73

-18.22

8.80

22.51

86.76

265.95

YTD

10y

Inception

Total Return (%)

-5.79

-1.06

15.89

28.40

89.95

442.18

Investment Income Builder Blend (%)

-13.83

-11.13

16.54

32.57

107.14

308.06

2016

2017

2018

2019

2020

2021

Total Return (%)

9.86

15.17

-4.39

17.95

-0.39

20.29

Investment Income Builder Blend (%)

6.41

17.42

-6.42

22.87

14.41

15.64

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 Global Allocation category is based on total returns before sales charges for 1-, 3-, 5- and 10-years, among 425, 405, 354 and 252 funds, respectively, as of 30 Sep 2022, and 426, 404, 353 and 251 funds, respectively, as of 31 Oct 2022.

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 30 Sep 2022)

Gross Expense Ratio (%)

0.94

Net Expense Ratio (%)

0.94

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 Blend
            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

Hypothetical Growth of $10,000

(As of 30 Nov 2022)

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

                        Categories,I Shares,Investment Income Builder Blend
                        2021-11-30,10000,10000
2021-12-31,10502,10314
2022-01-31,10565,9849
2022-02-28,10257,9635
2022-03-31,10292,9766
2022-04-30,9823,9065
2022-05-31,10182,9085
2022-06-30,9410,8459
2022-07-31,9599,9015
2022-08-31,9338,8668
2022-09-30,8592,7970
2022-10-31,9129,8374
2022-11-30,9894,8887

                        Categories,I Shares,Investment Income Builder Blend
                        2019-11-30,10000,10000
2019-12-31,10267,10223
2020-01-31,10111,10225
2020-02-29,9413,9623
2020-03-31,7607,8654
2020-04-30,8250,9401
2020-05-31,8551,9753
2020-06-30,8732,9962
2020-07-31,8939,10356
2020-08-31,9123,10855
2020-09-30,8818,10572
2020-10-31,8662,10317
2020-11-30,9879,11332
2020-12-31,10227,11696
2021-01-31,10389,11588
2021-02-28,10747,11769
2021-03-31,11109,12026
2021-04-30,11300,12469
2021-05-31,11570,12614
2021-06-30,11447,12777
2021-07-31,11463,12985
2021-08-31,11698,13221
2021-09-30,11388,12781
2021-10-31,11850,13323
2021-11-30,11720,13114
2021-12-31,12302,13525
2022-01-31,12375,12916
2022-02-28,12015,12635
2022-03-31,12056,12807
2022-04-30,11506,11888
2022-05-31,11927,11914
2022-06-30,11023,11093
2022-07-31,11244,11821
2022-08-31,10938,11367
2022-09-30,10065,10452
2022-10-31,10694,10981
2022-11-30,11589,11654

                        Categories,I Shares,Investment Income Builder Blend
                        2017-11-30,10000,10000
2017-12-31,10087,10113
2018-01-31,10425,10484
2018-02-28,9928,10134
2018-03-31,9847,9984
2018-04-30,10051,10052
2018-05-31,9930,10117
2018-06-30,9932,10110
2018-07-31,10343,10348
2018-08-31,10187,10460
2018-09-30,10345,10487
2018-10-31,9924,9889
2018-11-30,10103,9988
2018-12-31,9643,9464
2019-01-31,10079,10042
2019-02-28,10225,10267
2019-03-31,10336,10417
2019-04-30,10658,10695
2019-05-31,10106,10279
2019-06-30,10597,10820
2019-07-31,10544,10866
2019-08-31,10465,10769
2019-09-30,10801,10927
2019-10-31,11005,11144
2019-11-30,11082,11375
2019-12-31,11375,11629
2020-01-31,11203,11632
2020-02-29,10429,10947
2020-03-31,8428,9844
2020-04-30,9141,10694
2020-05-31,9474,11094
2020-06-30,9674,11332
2020-07-31,9904,11781
2020-08-31,10108,12347
2020-09-30,9769,12026
2020-10-31,9597,11736
2020-11-30,10946,12890
2020-12-31,11331,13304
2021-01-31,11510,13181
2021-02-28,11907,13387
2021-03-31,12308,13679
2021-04-30,12520,14184
2021-05-31,12819,14349
2021-06-30,12682,14534
2021-07-31,12700,14770
2021-08-31,12960,15039
2021-09-30,12617,14538
2021-10-31,13129,15155
2021-11-30,12985,14917
2021-12-31,13630,15385
2022-01-31,13711,14692
2022-02-28,13311,14372
2022-03-31,13358,14568
2022-04-30,12748,13522
2022-05-31,13215,13552
2022-06-30,12213,12618
2022-07-31,12458,13447
2022-08-31,12119,12930
2022-09-30,11151,11889
2022-10-31,11848,12491
2022-11-30,12840,13257

                        Categories,I Shares,Investment Income Builder Blend
                        2012-11-30,10000,10000
2012-12-31,10137,10137
2013-01-31,10635,10507
2013-02-28,10675,10533
2013-03-31,10951,10720
2013-04-30,11354,11001
2013-05-31,11129,10955
2013-06-30,10858,10710
2013-07-31,11068,11136
2013-08-31,10823,10944
2013-09-30,11279,11381
2013-10-31,11697,11738
2013-11-30,11681,11883
2013-12-31,11846,12055
2014-01-31,11575,11765
2014-02-28,12108,12222
2014-03-31,12230,12230
2014-04-30,12372,12350
2014-05-31,12596,12568
2014-06-30,12761,12738
2014-07-31,12742,12577
2014-08-31,12977,12820
2014-09-30,12578,12537
2014-10-31,12597,12629
2014-11-30,12709,12841
2014-12-31,12427,12689
2015-01-31,12502,12583
2015-02-28,12981,13106
2015-03-31,12861,12967
2015-04-30,13273,13184
2015-05-31,13182,13210
2015-06-30,12863,12944
2015-07-31,13042,13140
2015-08-31,12249,12484
2015-09-30,11711,12159
2015-10-31,12267,12882
2015-11-30,12159,12826
2015-12-31,11793,12646
2016-01-31,11430,12123
2016-02-29,11351,12076
2016-03-31,11982,12719
2016-04-30,12169,12882
2016-05-31,12312,12937
2016-06-30,12294,12886
2016-07-31,12615,13315
2016-08-31,12729,13320
2016-09-30,12731,13371
2016-10-31,12536,13151
2016-11-30,12682,13215
2016-12-31,12957,13457
2017-01-31,13010,13707
2017-02-28,13241,14015
2017-03-31,13445,14125
2017-04-30,13524,14310
2017-05-31,13832,14564
2017-06-30,13844,14602
2017-07-31,14145,14880
2017-08-31,14133,14929
2017-09-30,14424,15163
2017-10-31,14434,15380
2017-11-30,14794,15625
2017-12-31,14922,15801
2018-01-31,15422,16382
2018-02-28,14687,15834
2018-03-31,14566,15600
2018-04-30,14869,15706
2018-05-31,14690,15808
2018-06-30,14692,15797
2018-07-31,15300,16168
2018-08-31,15070,16344
2018-09-30,15304,16386
2018-10-31,14680,15451
2018-11-30,14946,15606
2018-12-31,14266,14788
2019-01-31,14910,15690
2019-02-28,15126,16042
2019-03-31,15290,16277
2019-04-30,15766,16710
2019-05-31,14950,16061
2019-06-30,15677,16906
2019-07-31,15598,16978
2019-08-31,15481,16827
2019-09-30,15978,17073
2019-10-31,16280,17412
2019-11-30,16394,17774
2019-12-31,16827,18170
2020-01-31,16572,18174
2020-02-29,15427,17104
2020-03-31,12468,15381
2020-04-30,13522,16710
2020-05-31,14016,17335
2020-06-30,14311,17706
2020-07-31,14651,18407
2020-08-31,14953,19292
2020-09-30,14452,18791
2020-10-31,14197,18337
2020-11-30,16192,20141
2020-12-31,16762,20788
2021-01-31,17027,20596
2021-02-28,17615,20917
2021-03-31,18207,21374
2021-04-30,18520,22162
2021-05-31,18964,22420
2021-06-30,18761,22710
2021-07-31,18787,23079
2021-08-31,19172,23498
2021-09-30,18665,22716
2021-10-31,19422,23679
2021-11-30,19208,23307
2021-12-31,20163,24040
2022-01-31,20282,22956
2022-02-28,19692,22457
2022-03-31,19760,22763
2022-04-30,18859,21129
2022-05-31,19548,21175
2022-06-30,18067,19716
2022-07-31,18429,21011
2022-08-31,17928,20203
2022-09-30,16496,18577
2022-10-31,17527,19517
2022-11-30,18995,20714

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 ($)
            2003-12-31,0.14500
2004-03-31,0.11700
2004-06-30,0.13600
2004-09-30,0.16000
2004-11-30,0.00073
2004-12-31,0.22700
2005-03-31,0.11589
2005-06-30,0.14193
2005-09-30,0.18030
2005-11-30,0.33324
2005-12-31,0.29711
2006-03-31,0.14446
2006-06-30,0.17964
2006-09-30,0.21220
2006-11-30,0.51623
2006-12-31,0.35020
2007-03-31,0.16190
2007-06-30,0.20630
2007-09-30,0.23570
2007-11-30,0.46552
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

            Ex Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
            2003-12-31,0.14500,0.14500,0,0
2004-03-31,0.11700,0.11700,0,0
2004-06-30,0.13600,0.13600,0,0
2004-09-30,0.16000,0.16000,0,0
2004-11-17,0.00073,0,0.00063,0.00010
2004-12-31,0.22700,0.22700,0,0
2005-03-31,0.11589,0.11589,0,0
2005-06-30,0.14193,0.14193,0,0
2005-09-30,0.18030,0.18030,0,0
2005-11-17,0.33324,0,0.04834,0.28490
2005-12-31,0.29711,0.29711,0,0
2006-03-31,0.14446,0.14446,0,0
2006-06-28,0.17964,0.17964,0,0
2006-09-27,0.21220,0.21220,0,0
2006-11-17,0.51623,0,0.19367,0.32256
2006-12-26,0.35020,0.35020,0,0
2007-03-26,0.16190,0.16190,0,0
2007-06-26,0.20630,0.20630,0,0
2007-09-26,0.23570,0.23570,0,0
2007-11-19,0.46552,0,0.24776,0.21776
2007-12-26,0.39029,0.39029,0,0
2008-03-26,0.19754,0.19754,0,0
2008-06-26,0.23790,0.23790,0,0
2008-09-26,0.27987,0.27987,0,0
2008-12-26,0.38343,0.38343,0,0
2009-03-26,0.19159,0.19159,0,0
2009-06-26,0.25623,0.25623,0,0
2009-09-25,0.29438,0.29438,0,0
2009-12-24,0.36189,0.36189,0,0
2010-03-26,0.21267,0.21267,0,0
2010-06-25,0.26686,0.26686,0,0
2010-09-24,0.33574,0.33574,0,0
2010-12-27,0.37783,0.37783,0,0
2011-03-25,0.22726,0.22726,0,0
2011-06-24,0.27880,0.27880,0,0
2011-09-26,0.33844,0.33844,0,0
2011-12-23,0.39262,0.39262,0,0
2012-03-26,0.23093,0.23093,0,0
2012-06-25,0.27509,0.27509,0,0
2012-09-24,0.30097,0.30097,0,0
2012-12-24,0.37770,0.37770,0,0
2013-03-22,0.23086,0.23086,0,0
2013-06-24,0.27152,0.27152,0,0
2013-09-24,0.26844,0.26844,0,0
2013-12-24,0.26418,0.26418,0,0
2014-03-25,0.24253,0.24253,0,0
2014-06-24,0.25914,0.25914,0,0
2014-09-24,0.28921,0.28921,0,0
2014-12-24,0.27963,0.27963,0,0
2015-03-25,0.18176,0.18176,0,0
2015-06-24,0.21845,0.21845,0,0
2015-09-24,0.21839,0.21839,0,0
2015-12-24,0.27008,0.27008,0,0
2016-03-24,0.18533,0.18533,0,0
2016-06-24,0.20181,0.20181,0,0
2016-09-26,0.21226,0.21226,0,0
2016-12-23,0.23274,0.23274,0,0
2017-03-24,0.18636,0.18636,0,0
2017-06-23,0.21816,0.21816,0,0
2017-09-22,0.27894,0.27894,0,0
2017-12-27,0.31589,0.31589,0,0
2018-03-23,0.19613,0.19613,0,0
2018-06-22,0.21571,0.21571,0,0
2018-09-21,0.25558,0.25558,0,0
2018-12-26,0.29593,0.29593,0,0
2019-03-22,0.20347,0.20347,0,0
2019-06-21,0.22974,0.22974,0,0
2019-09-20,0.26420,0.26420,0,0
2019-12-27,0.31688,0.31688,0,0
2020-03-19,0.20303,0.20303,0,0
2020-06-18,0.20124,0.20124,0,0
2020-09-17,0.22194,0.22194,0,0
2020-12-28,0.30316,0.30316,0,0
2021-03-18,0.23677,0.23677,0,0
2021-06-17,0.29033,0.29033,0,0
2021-09-16,0.32854,0.32854,0,0
2021-12-27,0.38840,0.38840,0,0
2022-01-06,0.06563,0.06563,0,0
2022-03-17,0.21420,0.21420,0,0
2022-06-16,0.26605,0.26605,0,0
2022-09-15,0.30538,0.30538,0,0

Distributions

(As of 30 Sep 2022)

Ex-Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

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

0.17964

—

27 Sep 2006

0.21220

—

17 Nov 2006

0.51623

—

0.19367

0.32256

26 Dec 2006

0.35020

—

26 Mar 2007

0.16190

—

26 Jun 2007

0.20630

—

26 Sep 2007

0.23570

—

19 Nov 2007

0.46552

—

0.24776

0.21776

26 Dec 2007

0.39029

—

26 Mar 2008

0.19754

—

26 Jun 2008

0.23790

—

26 Sep 2008

0.27987

—

26 Dec 2008

0.38343

—

26 Mar 2009

0.19159

—

26 Jun 2009

0.25623

—

25 Sep 2009

0.29438

—

24 Dec 2009

0.36189

—

26 Mar 2010

0.21267

—

25 Jun 2010

0.26686

—

24 Sep 2010

0.33574

—

27 Dec 2010

0.37783

—

25 Mar 2011

0.22726

—

24 Jun 2011

0.27880

—

26 Sep 2011

0.33844

—

23 Dec 2011

0.39262

—

26 Mar 2012

0.23093

—

25 Jun 2012

0.27509

—

24 Sep 2012

0.30097

—

24 Dec 2012

0.37770

—

22 Mar 2013

0.23086

—

24 Jun 2013

0.27152

—

24 Sep 2013

0.26844

—

24 Dec 2013

0.26418

—

25 Mar 2014

0.24253

—

24 Jun 2014

0.25914

—

24 Sep 2014

0.28921

—

24 Dec 2014

0.27963

—

25 Mar 2015

0.18176

—

24 Jun 2015

0.21845

—

24 Sep 2015

0.21839

—

24 Dec 2015

0.27008

—

24 Mar 2016

0.18533

—

24 Jun 2016

0.20181

—

26 Sep 2016

0.21226

—

23 Dec 2016

0.23274

—

24 Mar 2017

0.18636

—

23 Jun 2017

0.21816

—

22 Sep 2017

0.27894

—

27 Dec 2017

0.31589

—

23 Mar 2018

0.19613

—

22 Jun 2018

0.21571

—

21 Sep 2018

0.25558

—

26 Dec 2018

0.29593

—

22 Mar 2019

0.20347

—

21 Jun 2019

0.22974

—

20 Sep 2019

0.26420

—

27 Dec 2019

0.31688

—

19 Mar 2020

0.20303

—

18 Jun 2020

0.20124

—

17 Sep 2020

0.22194

—

28 Dec 2020

0.30316

—

18 Mar 2021

0.23677

—

17 Jun 2021

0.29033

—

16 Sep 2021

0.32854

—

27 Dec 2021

0.38840

—

6 Jan 2022

0.06563

—

17 Mar 2022

0.21420

—

16 Jun 2022

0.26605

—

15 Sep 2022

0.30538

—

Fund Facts

(As of 31 Oct 2022)

Net Fund Assets

$9.8 B

Benchmark

Investment Income Builder Blend

Morningstar Category

World Allocation

Fund Symbol

TIBIX

Share Class

Share Class Inception Date

3 Nov 2003

Number of Holdings

338

Portfolio Turnover

25%

Distribution Frequency

Quarterly

30-Day SEC Yield (Subsidized)

4.75%

30-Day SEC Yield (Unsubsidized)

4.75%

Characteristics

Portfolio

(As of 31 Oct 2022)

Portfolio

Benchmark

Weighted Average Market Cap

$115.6 B

$341.3 B

Median Market Cap

$54.6 B

$15.6 B

Price to Earnings - Forward 1YR

7.9x

14.8x

Price to Earnings - Trailing 12 Months

9.3x

16.4x

Price to Cash Flow

4.5x

11.2x

Price to Book Value

1.4x

2.7x

Return on Assets - 5 YR

6.8%

10.2%

Portfolio

Benchmark

Return on Equity - 5 YR

17.8%

30.0%

Historical 3YR Sales Growth

2.9%

9.6%

Active Share

91.2%

—

Effective Duration

4.0 Yrs

6.1 Yrs

Average Effective Maturity

6.3 Yrs

8.4 Yrs

Weighted Average Coupon

2.1%

2.6%

Yield to Worst

10.4%

5.0%

Risk & Return profile

(As of 31 Oct 2022)

10y

Annualized Alpha (%)

-3.67

-3.29

-4.24

Beta

1.13

1.11

R-Squared (%)

82.22

82.24

82.93

Standard Deviation (%)

19.72

16.39

13.41

Sharpe Ratio

0.09

0.16

0.37

Information Ratio

-0.15

-0.12

-0.20

Up Capture (%)

100.20

99.74

101.66

Down Capture (%)

103.68

103.09

106.63

Past performance does not guarantee future results.

Portfolio

Top Holdings

(As of 31 Oct 2022)

Name

Ticker/Symbol

Sector

Weight %

TotalEnergies SE

TTE

Energy

4.9

Orange S.A.

ORA

Communication Services

4.0

CME Group, Inc.

CME

Financials

3.1

Broadcom, Inc.

AVGO

Information Technology

3.1

Pfizer, Inc.

PFE

Health Care

3.0

BNP Paribas S.A.

BNP

Financials

3.0

Vodafone Group plc

VOD

Communication Services

2.8

NN Group N.V.

Financials

2.7

Samsung Electronics Co. Ltd.

005930

Information Technology

2.5

Regions Financial Corp.

Financials

2.5

Name

Ticker/Symbol

Sector

Weight %

Telefonica Emisiones S.A.

87938WAC7

Communications

0.8

The Williams Cos, Inc.

969457BW9

Energy

0.7

Vector Group Ltd.

92240MBJ6

Consumer, Non-cyclical

0.4

QBE Insurance Group Ltd.

74737EAA2

Financials

0.4

Transcontinental Gas Pipe Line Co., LLC

893574AH6

Energy

0.4

Deutsche Telekom International Finance BV

25156PAC7

Communications

0.3

Digicel International Finance Ltd./Digicel international Holdings ltd

25381XAA1

Communications

0.3

SeaWorld Parks & Entertainment, Inc.

81282UAC6

Consumer, Cyclical

0.3

LendingPoint 2020-REV1 Asset Securitization Trust

52606YAC8

Asset Backed Securities

0.3

Kinder Morgan, Inc.

49456BAG6

Energy

0.2

Download Holdings

Portfolio holdings are subject to change daily.

Exposure Breakdown

(As of 31 Oct 2022)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Financials

27.5

13.8

Information Technology

14.0

21.1

Health Care

12.5

14.3

Energy

11.1

5.8

Communication Services

11.1

6.7

Materials

6.1

4.1

Utilities

5.7

3.0

Industrials

4.2

10.3

Consumer Discretionary

3.9

10.7

Consumer Staples

3.2

7.7

Real Estate

0.6

2.6

Sector Allocation

Fund (%)

Financials

27.5

Information Technology

14.0

Health Care

12.5

Energy

11.1

Communication Services

11.1

Materials

6.1

Utilities

5.7

Industrials

4.2

Consumer Discretionary

3.9

Consumer Staples

3.2

Real Estate

0.6

Top 10 Industries

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

Pharmaceuticals, Biotechnology & Life Sciences

12.3

9.2

Energy

11.1

5.8

Telecommunication Services

10.9

1.7

Banks

10.2

6.0

Diversified Financials

9.9

4.6

Semiconductors & Semiconductor Equipment

9.5

3.9

Insurance

8.3

3.3

Materials

6.0

4.1

Utilities

5.7

3.0

Technology Hardware & Equipment

4.3

6.9

Top 10 Industries

Fund (%)

Pharmaceuticals, Biotechnology & Life Sciences

12.3

Energy

11.1

Telecommunication Services

10.9

Banks

10.2

Diversified Financials

9.9

Semiconductors & Semiconductor Equipment

9.5

Insurance

8.3

Materials

6.0

Utilities

5.7

Technology Hardware & Equipment

4.3

Top 10 Countries

Fund (%)

Benchmark (%)

Region

Portfolio

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

United States

39.0

75.8

North America

France

12.6

2.4

Europe ex UK

United Kingdom

11.2

3.5

Germany

5.5

1.7

Europe ex UK

Italy

5.2

0.4

Europe ex UK

Netherlands

4.4

0.9

Europe ex UK

Switzerland

3.8

2.1

Europe ex UK

Korea, Republic of (South Korea)

2.5

0.0

Asia Pacific ex Japan

Taiwan

2.3

0.0

Asia Pacific ex Japan

Spain

1.9

0.5

Europe ex UK

Top 10 Countries

Fund (%)

United States

39.0

France

12.6

United Kingdom

11.2

Germany

5.5

Italy

5.2

Netherlands

4.4

Switzerland

3.8

Korea, Republic of (South Korea)

2.5

Taiwan

2.3

Spain

1.9

Composition

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

Equity

79.4

75.0

Fixed Income

14.2

25.0

Cash & Cash Equivalents

5.3

—

Funds

0.9

—

Currency Forward

0.2

—

Composition

Fund (%)

Equity

79.4

Fixed Income

14.2

Cash & Cash Equivalents

5.3

Funds

0.9

Currency Forward

0.2

Capitalization

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Large Cap (> $12 B)

93.5

92.8

Mid Cap ($2.5 to $12 B)

3.1

7.1

Small Cap (< $2.5 B)

3.5

0.0

Capitalization

Fund (%)

Large Cap (> $12 B)

93.5

Mid Cap ($2.5 to $12 B)

3.1

Small Cap (< $2.5 B)

3.5

Credit Quality

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

AAA

4.3

3.7

1.2

2.9

4.5

11.2

BBB

37.8

11.5

21.4

—

14.2

—

CCC

2.9

—

0.0

—

Not Rated

13.6

0.0

Credit Quality

Fund (%)

AAA

4.3

1.2

4.5

BBB

37.8

21.4

14.2

CCC

2.9

0.0

Not Rated

13.6

Maturity

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

Year 1

5.7

0.9

Year 2

24.2

11.9

Year 3

8.2

10.2

Year 4

15.7

8.0

Year 5

6.7

8.1

Year 6

5.4

7.9

Year 7

2.8

7.1

Year 8

7.3

7.1

Year 9

2.6

7.4

Year 10+

21.3

31.4

Maturity

Fund (%)

Year 1

5.7

Year 2

24.2

Year 3

8.2

Year 4

15.7

Year 5

6.7

Year 6

5.4

Year 7

2.8

Year 8

7.3

Year 9

2.6

Year 10+

21.3

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

Portfolio Manager and Managing Director

Matt Burdett is portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager and was promoted to portfolio manager in 2018. Matt spent several years as a senior vice president and portfolio manager at PIMCO, where he co-managed various dividend-oriented strategies. Prior to his time at PIMCO, Matt worked as an equity analyst…

Learn More

Ben Kirby, CFA

Co-Head of Investments and Managing Director

Ben Kirby is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Ben is also a portfolio manager on multiple strategies. He joined Thornburg in 2008 as equity research analyst, was promoted to associate portfolio manager in 2011, and was named portfolio manager and managing director in 2013. Ben holds…

Learn More

Brian McMahon

Vice Chairman and Chief Investment Strategist

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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Jason Brady, CFA

President and CEO

Jason Brady is president and CEO of Thornburg Investment Management. He is responsible for the company’s overall strategy and direction. He is also portfolio manager on multiple strategies. He joined the firm in 2006, was made portfolio manager and managing director in 2007, and president and CEO in 2016. His book Income Investing: An Intelligent Approach to Profiting from Bonds,…

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Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Report

Semi-annual report

Prospectus

Statement of Additional Information (SAI)

Important Information

Before investing, carefully consider the Fund's investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit thornburg.com. Read them carefully before investing.

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.

© 2022 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 Corporation.

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 Corporation (TSC) does not act as broker of record for investors.

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Fixed Income

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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

Ben Kirby, CFA

Brian McMahon

Jason Brady, CFA

Literature

Important Information

More Insights

The Changing Tides within Fixed Income Liquidity

When it Comes to Investing, It’s Not Over Until the Full-Bodied Lady Sings

The Power of “May I Ask You?”

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Give Us a Call

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

Ben Kirby, CFA

Brian McMahon

Jason Brady, CFA

Literature

Important Information

More Insights

The Changing Tides within Fixed Income Liquidity

When it Comes to Investing, It’s Not Over Until the Full-Bodied Lady Sings

The Power of “May I Ask You?”