Thornburg Intermediate Municipal Fund

SYMBOL: THIMX

Morningstar Rating • Info

Overall Morningstar Rating among 281 Muni National Intermediate funds, based on risk-adjusted returns for class A shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 4 stars, 3 stars and 3 stars among 281, 248 and 184 funds, as of 31 Dec 2022.

As of 31 Dec 2022

Fund Assets

$913.5 M

As of 31 Dec 2022

NAV

$13.26

As of 27 Jan 2023

Change

$0.00

As of 27 Jan 2023

YTD NAV Performance

1.82%

As of 27 Jan 2023

Asset Category:

Municipal Bond

Fund Benchmark:

ICE BofA 3-15 Yr US Muni

Portfolio Managers

David Ashley, CFA

Portfolio Manager and Managing Director

John Bonnell, CFA

Portfolio Manager and Managing Director

Eve Lando, JD

Portfolio Manager and Managing Director

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

Overview

Why Invest in This Fund?

Actively managed diversified portfolio of intermediate-term investment grade municipal bonds with an average maturity of three to ten years and duration of four to six years.
Proven bottom-up fundamental approach that incorporates a top-down macroeconomic overlay to identify what we perceive to be the most attractive opportunities on a relative value basis across geographic regions, sectors, issuers and revenue streams.
Relative value philosophy that seeks to maximize tax-exempt income while minimizing changes in its share value. The fund focuses on identifying attractive value in the investment-grade municipal bond market. We apply a strict discipline of fundamental credit research and strive to produce an attractive dividend while avoiding the long maturities that are most vulnerable to interest-rate swings.

Investment Objective

The fund’s goal is to provide investors with as high a level of current income exempt from federal individual income tax as is consistent with preservation of capital. The fund also seeks to reduce share price volatility compared to longer-term bond portfolios.

Investment Approach

The fund is an actively managed diversified portfolio of municipal bonds. The investment team applies a relative value framework, focusing on fundamentals and valuations to identify inefficiencies in the market. Team members are responsible for credit research, portfolio construction, trading and risk oversight and have the flexibility to source ideas across sector, geography and issuer. The strategy maintains exposure across the maturity spectrum to manage duration, hedge against interest rate fluctuations and limit taxable events.

Returns

(As of 31 Dec 2022)

YTD

10y

Inception

Total Return with Sales Charge (%)

-8.27

-1.30

0.42

1.24

4.01

Total Return without Sales Charge (%)

-6.41

-0.63

0.83

1.44

4.08

ICE BofA 3-15 Yr US Muni (%)

-6.64

-0.36

1.43

2.03

—

Morningstar Category Avg. (%)

-8.23

-0.84

0.96

1.6

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return with Sales Charge (%)

-8.27

-1.30

0.42

1.24

4.01

Total Return without Sales Charge (%)

-6.41

-0.63

0.83

1.44

4.08

ICE BofA 3-15 Yr US Muni (%)

-6.64

-0.36

1.43

2.03

—

Morningstar Category Avg. (%)

-8.23

-0.84

0.96

1.6

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return with Sales Charge (%)

-8.27

-3.84

2.13

13.09

244.06

Total Return without Sales Charge (%)

-6.41

-1.89

4.22

15.39

251.19

ICE BofA 3-15 Yr US Muni (%)

-6.64

-1.09

7.38

22.22

—

YTD

10y

Inception

Total Return with Sales Charge (%)

-8.27

-3.84

2.13

13.09

244.06

Total Return without Sales Charge (%)

-6.41

-1.89

4.22

15.39

251.19

ICE BofA 3-15 Yr US Muni (%)

-6.64

-1.09

7.38

22.22

—

2017

2018

2019

2020

2021

2022

Total Return with Sales Charge (%)

1.57

-1.46

3.55

1.74

-1.06

-8.27

ICE BofA 3-15 Yr US Muni (%)

4.64

1.45

7.01

4.96

0.94

-6.64

Source: Confluence

Periods less than one year are not annualized.

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 Fund's A shares is 2.00%. C shares include a 0.60% contingent deferred sales charge (CDSC) for the first year only. There is no up-front sales charge for class I shares.

Morningstar quartile ranking for Muni National Interm category is based on total returns before sales charges for 1-, 3-, 5- and 10-years, among 302, 277, 240 and 178 funds, respectively, as of 30 Sep 2022, and 306, 282, 248 and 184 funds, respectively, as of 30 Nov 2022.

Share class inception dates: A shares, 22 Jul 1991; C shares, 1 Sep 1994; I shares, 5 Jul 1996.

Fund Fees

(As of 31 Dec 2022)

Gross Expense Ratio (%)

0.91

Net Expense Ratio (%)

0.77

Distributions

            Categories,Total ($)
            1991-07-31,0.02403
1991-08-31,0.07055
1991-09-30,0.06776
1991-10-31,0.06139
1991-11-30,0.06209
1991-12-31,0.07030
1992-01-31,0.06664
1992-02-29,0.06622
1992-03-31,0.06732
1992-04-30,0.06754
1992-05-31,0.06620
1992-06-30,0.06566
1992-07-31,0.06438
1992-08-31,0.06238
1992-09-30,0.06357
1992-10-31,0.06324
1992-11-30,0.06189
1992-12-31,0.06056
1993-01-31,0.06153
1993-02-28,0.06106
1993-03-31,0.05943
1993-04-30,0.05898
1993-05-31,0.05691
1993-06-30,0.05698
1993-07-31,0.05755
1993-08-31,0.05636
1993-09-30,0.05566
1993-10-31,0.05672
1993-11-30,0.07426
1993-12-31,0.05531
1994-01-31,0.05595
1994-02-28,0.05376
1994-03-31,0.05637
1994-04-30,0.05457
1994-05-31,0.05326
1994-06-30,0.05154
1994-07-31,0.06282
1994-08-31,0.06101
1994-09-30,0.05544
1994-10-31,0.05495
1994-11-30,0.05552
1994-12-31,0.05532
1995-01-31,0.05665
1995-02-28,0.05689
1995-03-31,0.05654
1995-04-30,0.06083
1995-05-31,0.06042
1995-06-30,0.05550
1995-07-31,0.05593
1995-08-31,0.05617
1995-09-30,0.05628
1995-10-31,0.05626
1995-11-30,0.05622
1995-12-31,0.05599
1996-01-31,0.05675
1996-02-29,0.05714
1996-03-31,0.05648
1996-04-30,0.05686
1996-05-31,0.05629
1996-06-30,0.05674
1996-07-31,0.05634
1996-08-31,0.05608
1996-09-30,0.05611
1996-10-31,0.05619
1996-11-30,0.05624
1996-12-31,0.05511
1997-01-31,0.05546
1997-02-28,0.05628
1997-03-31,0.05543
1997-04-30,0.05564
1997-05-31,0.05496
1997-06-30,0.05506
1997-07-31,0.05319
1997-08-31,0.05336
1997-09-30,0.05367
1997-10-31,0.05309
1997-11-30,0.05318
1997-12-31,0.05290
1998-01-31,0.05306
1998-02-28,0.05374
1998-03-31,0.05229
1998-04-30,0.05264
1998-05-31,0.05206
1998-06-30,0.05200
1998-07-31,0.05172
1998-08-31,0.05146
1998-09-30,0.05199
1998-10-31,0.05151
1998-11-30,0.05195
1998-12-31,0.05182
1999-01-31,0.05146
1999-02-28,0.05274
1999-03-31,0.05141
1999-04-30,0.05186
1999-05-31,0.05136
1999-06-30,0.05204
1999-07-31,0.05179
1999-08-31,0.05050
1999-09-30,0.05061
1999-10-31,0.05062
1999-11-30,0.05167
1999-12-31,0.05163
2000-01-31,0.05163
2000-02-29,0.05214
2000-03-31,0.05192
2000-04-30,0.05246
2000-05-31,0.05244
2000-06-30,0.05283
2000-07-31,0.05269
2000-08-31,0.05246
2000-09-30,0.05277
2000-10-31,0.05191
2000-11-30,0.05164
2000-12-31,0.05157
2001-01-31,0.05354
2001-02-28,0.05224
2001-03-31,0.05127
2001-04-30,0.05138
2001-05-31,0.05158
2001-06-30,0.05178
2001-07-31,0.05081
2001-08-31,0.05034
2001-09-30,0.04969
2001-10-31,0.04898
2001-11-30,0.04867
2001-12-31,0.04763
2002-01-31,0.04819
2002-02-28,0.04793
2002-03-31,0.04725
2002-04-30,0.04725
2002-05-31,0.04698
2002-06-30,0.04607
2002-07-31,0.04469
2002-08-31,0.04411
2002-09-30,0.04413
2002-10-31,0.04406
2002-11-30,0.04456
2002-12-31,0.04427
2003-01-31,0.04391
2003-02-28,0.04378
2003-03-31,0.04268
2003-04-30,0.04272
2003-05-31,0.04258
2003-06-30,0.04248
2003-07-31,0.04243
2003-08-31,0.04465
2003-09-30,0.04398
2003-10-31,0.04369
2003-11-30,0.04363
2003-12-31,0.04306
2004-01-31,0.04255
2004-02-29,0.04300
2004-03-31,0.04265
2004-04-30,0.04273
2004-05-31,0.04343
2004-06-30,0.04405
2004-07-31,0.04343
2004-08-31,0.04221
2004-09-30,0.04171
2004-10-31,0.04091
2004-11-30,0.04109
2004-12-31,0.04022
2005-01-31,0.04035
2005-02-28,0.04144
2005-03-31,0.04065
2005-04-30,0.04143
2005-05-31,0.04104
2005-06-30,0.04102
2005-07-31,0.04102
2005-08-31,0.04149
2005-09-30,0.04061
2005-10-31,0.03984
2005-11-30,0.04030
2005-12-31,0.03994
2006-01-31,0.04178
2006-02-28,0.04004
2006-03-31,0.04132
2006-04-30,0.04148
2006-05-31,0.04138
2006-06-30,0.04219
2006-07-31,0.04201
2006-08-31,0.04201
2006-09-30,0.04195
2006-10-31,0.04179
2006-11-30,0.04196
2006-12-31,0.04189
2007-01-31,0.04201
2007-02-28,0.04286
2007-03-31,0.04217
2007-04-30,0.04267
2007-05-31,0.04225
2007-06-30,0.04166
2007-07-31,0.04231
2007-08-31,0.04266
2007-09-30,0.04290
2007-10-31,0.04241
2007-11-30,0.04249
2007-12-31,0.04216
2008-01-31,0.04211
2008-02-29,0.04372
2008-03-31,0.04359
2008-04-30,0.04335
2008-05-31,0.04201
2008-06-30,0.04324
2008-07-31,0.04307
2008-08-31,0.04350
2008-09-30,0.04442
2008-10-31,0.04449
2008-11-30,0.04415
2008-12-31,0.04455
2009-01-31,0.04492
2009-02-28,0.04567
2009-03-31,0.04449
2009-04-30,0.04479
2009-05-31,0.04474
2009-06-30,0.04488
2009-07-31,0.04549
2009-08-31,0.04468
2009-09-30,0.04335
2009-10-31,0.04233
2009-11-30,0.04387
2009-12-31,0.04292
2010-01-31,0.04264
2010-02-28,0.04245
2010-03-31,0.04063
2010-04-30,0.04133
2010-05-31,0.04048
2010-06-30,0.04043
2010-07-31,0.03920
2010-08-31,0.03835
2010-09-30,0.03693
2010-10-31,0.03667
2010-11-30,0.03799
2010-12-31,0.03945
2011-01-31,0.04074
2011-02-28,0.04222
2011-03-31,0.04126
2011-04-30,0.04137
2011-05-31,0.04033
2011-06-30,0.04086
2011-07-31,0.03900
2011-08-31,0.03854
2011-09-30,0.03750
2011-10-31,0.03758
2011-11-30,0.03722
2011-12-31,0.03757
2012-01-31,0.03490
2012-02-29,0.03354
2012-03-31,0.03175
2012-04-30,0.03150
2012-05-31,0.03166
2012-06-30,0.03258
2012-07-31,0.03181
2012-08-31,0.03094
2012-09-30,0.03111
2012-10-31,0.02998
2012-11-30,0.03017
2012-12-31,0.02911
2013-01-31,0.02913
2013-02-28,0.02894
2013-03-31,0.02666
2013-04-30,0.02692
2013-05-31,0.02616
2013-06-30,0.02687
2013-07-31,0.02648
2013-08-31,0.02616
2013-09-30,0.02756
2013-10-31,0.02779
2013-11-30,0.02819
2013-12-31,0.02846
2014-01-31,0.02820
2014-02-28,0.03124
2014-03-31,0.02905
2014-04-30,0.02870
2014-05-31,0.02720
2014-06-30,0.02798
2014-07-31,0.02797
2014-08-31,0.02755
2014-09-30,0.02696
2014-10-31,0.02562
2014-11-30,0.02586
2014-12-31,0.02476
2015-01-31,0.02445
2015-02-28,0.02647
2015-03-31,0.02415
2015-04-30,0.02477
2015-05-31,0.02403
2015-06-30,0.02411
2015-07-31,0.02399
2015-08-31,0.02368
2015-09-30,0.02536
2015-10-31,0.02569
2015-11-30,0.02598
2015-12-31,0.02427
2016-01-31,0.02273
2016-02-29,0.02316
2016-03-31,0.02286
2016-04-30,0.02385
2016-05-31,0.02328
2016-06-30,0.02453
2016-07-31,0.02345
2016-08-31,0.02320
2016-09-30,0.02453
2016-10-31,0.02357
2016-11-30,0.02435
2016-12-31,0.02439
2017-01-31,0.02449
2017-02-28,0.02661
2017-03-31,0.02506
2017-04-30,0.02631
2017-05-31,0.02601
2017-06-30,0.02642
2017-07-31,0.02563
2017-08-31,0.02532
2017-09-30,0.02572
2017-10-31,0.02511
2017-11-30,0.02608
2017-12-31,0.02584
2018-01-31,0.02581
2018-02-28,0.02830
2018-03-31,0.02649
2018-04-30,0.02756
2018-05-31,0.02672
2018-06-30,0.02743
2018-07-31,0.02671
2018-08-31,0.02703
2018-09-30,0.02680
2018-10-31,0.02742
2018-11-30,0.02773
2018-12-31,0.02743
2019-01-31,0.02735
2019-02-28,0.02947
2019-03-31,0.02749
2019-04-30,0.02825
2019-05-31,0.02867
2019-06-30,0.02988
2019-07-31,0.02977
2019-08-31,0.02963
2019-09-30,0.02953
2019-10-31,0.02832
2019-11-30,0.02906
2019-12-31,0.02852
2020-01-31,0.02842
2020-02-29,0.03080
2020-03-31,0.03014
2020-04-30,0.03063
2020-05-31,0.02973
2020-06-30,0.02939
2020-07-31,0.02839
2020-08-31,0.02782
2020-09-30,0.02825
2020-10-31,0.02735
2020-11-30,0.02816
2020-12-31,0.02730
2021-01-31,0.02749
2021-02-28,0.02926
2021-03-31,0.02712
2021-04-30,0.02762
2021-05-31,0.02696
2021-06-30,0.02780
2021-07-31,0.02659
2021-08-31,0.02627
2021-09-30,0.02649
2021-10-31,0.02550
2021-11-30,0.02615
2021-12-31,0.02499
2022-01-31,0.02459
2022-02-28,0.02694
2022-03-31,0.02528
2022-04-30,0.02843
2022-05-31,0.02743
2022-06-30,0.02825
2022-07-31,0.02855
2022-08-31,0.02921
2022-09-30,0.02978
2022-10-31,0.03070
2022-11-30,0.03174
2022-12-31,0.03225

            Ex Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
            1991-07-31,0.02403,0.02403,0,0
1991-08-30,0.07055,0.07055,0,0
1991-09-30,0.06776,0.06776,0,0
1991-10-31,0.06139,0.06139,0,0
1991-11-29,0.06209,0.06209,0,0
1991-12-31,0.07030,0.07030,0,0
1992-01-31,0.06664,0.06664,0,0
1992-02-28,0.06622,0.06622,0,0
1992-03-31,0.06732,0.06732,0,0
1992-04-30,0.06754,0.06754,0,0
1992-05-29,0.06620,0.06620,0,0
1992-06-30,0.06566,0.06566,0,0
1992-07-31,0.06438,0.06438,0,0
1992-08-31,0.06238,0.06238,0,0
1992-09-30,0.06357,0.06357,0,0
1992-10-30,0.06324,0.06324,0,0
1992-11-30,0.06189,0.06189,0,0
1992-12-31,0.06056,0.06056,0,0
1993-01-29,0.06153,0.06153,0,0
1993-02-26,0.06106,0.06106,0,0
1993-03-31,0.05943,0.05943,0,0
1993-04-30,0.05898,0.05898,0,0
1993-05-28,0.05691,0.05691,0,0
1993-06-30,0.05698,0.05698,0,0
1993-07-30,0.05755,0.05755,0,0
1993-08-31,0.05636,0.05636,0,0
1993-09-30,0.05566,0.05566,0,0
1993-10-29,0.05672,0.05672,0,0
1993-11-30,0.07426,0.05616,0.00000,0.01810
1993-12-31,0.05531,0.05531,0,0
1994-01-31,0.05595,0.05595,0,0
1994-02-28,0.05376,0.05376,0,0
1994-03-31,0.05637,0.05637,0,0
1994-04-29,0.05457,0.05457,0,0
1994-05-31,0.05326,0.05326,0,0
1994-06-30,0.05154,0.05154,0,0
1994-07-29,0.06282,0.06282,0,0
1994-08-31,0.06101,0.06101,0,0
1994-09-30,0.05544,0.05544,0,0
1994-10-31,0.05495,0.05495,0,0
1994-11-30,0.05552,0.05552,0,0
1994-12-30,0.05532,0.05532,0,0
1995-01-31,0.05665,0.05665,0,0
1995-02-28,0.05689,0.05689,0,0
1995-03-31,0.05654,0.05654,0,0
1995-04-28,0.06083,0.06083,0,0
1995-05-31,0.06042,0.06042,0,0
1995-06-30,0.05550,0.05550,0,0
1995-07-31,0.05593,0.05593,0,0
1995-08-31,0.05617,0.05617,0,0
1995-09-29,0.05628,0.05628,0,0
1995-10-31,0.05626,0.05626,0,0
1995-11-30,0.05622,0.05622,0,0
1995-12-29,0.05599,0.05599,0,0
1996-01-31,0.05675,0.05675,0,0
1996-02-29,0.05714,0.05714,0,0
1996-03-29,0.05648,0.05648,0,0
1996-04-30,0.05686,0.05686,0,0
1996-05-31,0.05629,0.05629,0,0
1996-06-28,0.05674,0.05674,0,0
1996-07-31,0.05634,0.05634,0,0
1996-08-30,0.05608,0.05608,0,0
1996-09-30,0.05611,0.05611,0,0
1996-10-31,0.05619,0.05619,0,0
1996-11-29,0.05624,0.05624,0,0
1996-12-31,0.05511,0.05511,0,0
1997-01-31,0.05546,0.05546,0,0
1997-02-28,0.05628,0.05628,0,0
1997-03-31,0.05543,0.05543,0,0
1997-04-30,0.05564,0.05564,0,0
1997-05-30,0.05496,0.05496,0,0
1997-06-30,0.05506,0.05506,0,0
1997-07-31,0.05319,0.05319,0,0
1997-08-29,0.05336,0.05336,0,0
1997-09-30,0.05367,0.05367,0,0
1997-10-31,0.05309,0.05309,0,0
1997-11-28,0.05318,0.05318,0,0
1997-12-31,0.05290,0.05290,0,0
1998-01-30,0.05306,0.05306,0,0
1998-02-27,0.05374,0.05374,0,0
1998-03-31,0.05229,0.05229,0,0
1998-04-30,0.05264,0.05264,0,0
1998-05-29,0.05206,0.05206,0,0
1998-06-30,0.05200,0.05200,0,0
1998-07-31,0.05172,0.05172,0,0
1998-08-31,0.05146,0.05146,0,0
1998-09-30,0.05199,0.05199,0,0
1998-10-30,0.05151,0.05151,0,0
1998-11-30,0.05195,0.05195,0,0
1998-12-31,0.05182,0.05182,0,0
1999-01-29,0.05146,0.05146,0,0
1999-02-26,0.05274,0.05274,0,0
1999-03-31,0.05141,0.05141,0,0
1999-04-30,0.05186,0.05186,0,0
1999-05-28,0.05136,0.05136,0,0
1999-06-30,0.05204,0.05204,0,0
1999-07-30,0.05179,0.05179,0,0
1999-08-31,0.05050,0.05050,0,0
1999-09-30,0.05061,0.05061,0,0
1999-10-29,0.05062,0.05062,0,0
1999-11-30,0.05167,0.05167,0,0
1999-12-31,0.05163,0.05163,0,0
2000-01-31,0.05163,0.05163,0,0
2000-02-29,0.05214,0.05214,0,0
2000-03-31,0.05192,0.05192,0,0
2000-04-28,0.05246,0.05246,0,0
2000-05-31,0.05244,0.05244,0,0
2000-06-30,0.05283,0.05283,0,0
2000-07-31,0.05269,0.05269,0,0
2000-08-31,0.05246,0.05246,0,0
2000-09-29,0.05277,0.05277,0,0
2000-10-31,0.05191,0.05191,0,0
2000-11-30,0.05164,0.05164,0,0
2000-12-29,0.05157,0.05157,0,0
2001-01-31,0.05354,0.05354,0,0
2001-02-28,0.05224,0.05224,0,0
2001-03-30,0.05127,0.05127,0,0
2001-04-30,0.05138,0.05138,0,0
2001-05-31,0.05158,0.05158,0,0
2001-06-29,0.05178,0.05178,0,0
2001-07-31,0.05081,0.05081,0,0
2001-08-31,0.05034,0.05034,0,0
2001-09-28,0.04969,0.04969,0,0
2001-10-31,0.04898,0.04898,0,0
2001-11-30,0.04867,0.04867,0,0
2001-12-31,0.04763,0.04763,0,0
2002-01-31,0.04819,0.04819,0,0
2002-02-28,0.04793,0.04793,0,0
2002-03-28,0.04725,0.04725,0,0
2002-04-30,0.04725,0.04725,0,0
2002-05-31,0.04698,0.04698,0,0
2002-06-28,0.04607,0.04607,0,0
2002-07-31,0.04469,0.04469,0,0
2002-08-30,0.04411,0.04411,0,0
2002-09-30,0.04413,0.04413,0,0
2002-10-31,0.04406,0.04406,0,0
2002-11-29,0.04456,0.04456,0,0
2002-12-31,0.04427,0.04427,0,0
2003-01-31,0.04391,0.04391,0,0
2003-02-28,0.04378,0.04378,0,0
2003-03-31,0.04268,0.04268,0,0
2003-04-30,0.04272,0.04272,0,0
2003-05-30,0.04258,0.04258,0,0
2003-06-30,0.04248,0.04248,0,0
2003-07-31,0.04243,0.04243,0,0
2003-08-29,0.04465,0.04465,0,0
2003-09-30,0.04398,0.04398,0,0
2003-10-31,0.04369,0.04369,0,0
2003-11-28,0.04363,0.04363,0,0
2003-12-31,0.04306,0.04306,0,0
2004-01-30,0.04255,0.04255,0,0
2004-02-27,0.04300,0.04300,0,0
2004-03-31,0.04265,0.04265,0,0
2004-04-30,0.04273,0.04273,0,0
2004-05-28,0.04343,0.04343,0,0
2004-06-30,0.04405,0.04405,0,0
2004-07-30,0.04343,0.04343,0,0
2004-08-31,0.04221,0.04221,0,0
2004-09-30,0.04171,0.04171,0,0
2004-10-29,0.04091,0.04091,0,0
2004-11-30,0.04109,0.04109,0,0
2004-12-31,0.04022,0.04022,0,0
2005-01-31,0.04035,0.04035,0,0
2005-02-28,0.04144,0.04144,0,0
2005-03-31,0.04065,0.04065,0,0
2005-04-29,0.04143,0.04143,0,0
2005-05-31,0.04104,0.04104,0,0
2005-06-30,0.04102,0.04102,0,0
2005-07-29,0.04102,0.04102,0,0
2005-08-31,0.04149,0.04149,0,0
2005-09-30,0.04061,0.04061,0,0
2005-10-31,0.03984,0.03984,0,0
2005-11-30,0.04030,0.04030,0,0
2005-12-30,0.03994,0.03994,0,0
2006-01-31,0.04178,0.04178,0,0
2006-02-28,0.04004,0.04004,0,0
2006-03-31,0.04132,0.04132,0,0
2006-04-28,0.04148,0.04148,0,0
2006-05-31,0.04138,0.04138,0,0
2006-06-30,0.04219,0.04219,0,0
2006-07-31,0.04201,0.04201,0,0
2006-08-31,0.04201,0.04201,0,0
2006-09-29,0.04195,0.04195,0,0
2006-10-31,0.04179,0.04179,0,0
2006-11-30,0.04196,0.04196,0,0
2006-12-29,0.04189,0.04189,0,0
2007-01-31,0.04201,0.04201,0,0
2007-02-28,0.04286,0.04286,0,0
2007-03-30,0.04217,0.04217,0,0
2007-04-30,0.04267,0.04267,0,0
2007-05-31,0.04225,0.04225,0,0
2007-06-29,0.04166,0.04166,0,0
2007-07-31,0.04231,0.04231,0,0
2007-08-31,0.04266,0.04266,0,0
2007-09-28,0.04290,0.04290,0,0
2007-10-31,0.04241,0.04241,0,0
2007-11-30,0.04249,0.04249,0,0
2007-12-31,0.04216,0.04216,0,0
2008-01-31,0.04211,0.04211,0,0
2008-02-29,0.04372,0.04372,0,0
2008-03-31,0.04359,0.04359,0,0
2008-04-30,0.04335,0.04335,0,0
2008-05-30,0.04201,0.04201,0,0
2008-06-30,0.04324,0.04324,0,0
2008-07-31,0.04307,0.04307,0,0
2008-08-29,0.04350,0.04350,0,0
2008-09-30,0.04442,0.04442,0,0
2008-10-31,0.04449,0.04449,0,0
2008-11-28,0.04415,0.04415,0,0
2008-12-31,0.04455,0.04455,0,0
2009-01-30,0.04492,0.04492,0,0
2009-02-27,0.04567,0.04567,0,0
2009-03-31,0.04449,0.04449,0,0
2009-04-30,0.04479,0.04479,0,0
2009-05-29,0.04474,0.04474,0,0
2009-06-30,0.04488,0.04488,0,0
2009-07-31,0.04549,0.04549,0,0
2009-08-31,0.04468,0.04468,0,0
2009-09-30,0.04335,0.04335,0,0
2009-10-30,0.04233,0.04233,0,0
2009-11-30,0.04387,0.04387,0,0
2009-12-31,0.04292,0.04292,0,0
2010-01-29,0.04264,0.04264,0,0
2010-02-26,0.04245,0.04245,0,0
2010-03-31,0.04063,0.04063,0,0
2010-04-30,0.04133,0.04133,0,0
2010-05-28,0.04048,0.04048,0,0
2010-06-30,0.04043,0.04043,0,0
2010-07-30,0.03920,0.03920,0,0
2010-08-31,0.03835,0.03835,0,0
2010-09-30,0.03693,0.03693,0,0
2010-10-29,0.03667,0.03667,0,0
2010-11-30,0.03799,0.03799,0,0
2010-12-31,0.03945,0.03945,0,0
2011-01-31,0.04074,0.04074,0,0
2011-02-28,0.04222,0.04222,0,0
2011-03-31,0.04126,0.04126,0,0
2011-04-29,0.04137,0.04137,0,0
2011-05-31,0.04033,0.04033,0,0
2011-06-30,0.04086,0.04086,0,0
2011-07-29,0.03900,0.03900,0,0
2011-08-31,0.03854,0.03854,0,0
2011-09-30,0.03750,0.03750,0,0
2011-10-31,0.03758,0.03758,0,0
2011-11-30,0.03722,0.03722,0,0
2011-12-30,0.03757,0.03757,0,0
2012-01-31,0.03490,0.03490,0,0
2012-02-29,0.03354,0.03354,0,0
2012-03-30,0.03175,0.03175,0,0
2012-04-30,0.03150,0.03150,0,0
2012-05-31,0.03166,0.03166,0,0
2012-06-29,0.03258,0.03258,0,0
2012-07-31,0.03181,0.03181,0,0
2012-08-31,0.03094,0.03094,0,0
2012-09-28,0.03111,0.03111,0,0
2012-10-31,0.02998,0.02998,0,0
2012-11-30,0.03017,0.03017,0,0
2012-12-31,0.02911,0.02911,0,0
2013-01-31,0.02913,0.02913,0,0
2013-02-28,0.02894,0.02894,0,0
2013-03-28,0.02666,0.02666,0,0
2013-04-30,0.02692,0.02692,0,0
2013-05-31,0.02616,0.02616,0,0
2013-06-28,0.02687,0.02687,0,0
2013-07-31,0.02648,0.02648,0,0
2013-08-30,0.02616,0.02616,0,0
2013-09-30,0.02756,0.02756,0,0
2013-10-31,0.02779,0.02779,0,0
2013-11-29,0.02819,0.02819,0,0
2013-12-31,0.02846,0.02846,0,0
2014-01-31,0.02820,0.02820,0,0
2014-02-28,0.03124,0.03124,0,0
2014-03-31,0.02905,0.02905,0,0
2014-04-30,0.02870,0.02870,0,0
2014-05-30,0.02720,0.02720,0,0
2014-06-30,0.02798,0.02798,0,0
2014-07-31,0.02797,0.02797,0,0
2014-08-29,0.02755,0.02755,0,0
2014-09-30,0.02696,0.02696,0,0
2014-10-31,0.02562,0.02562,0,0
2014-11-28,0.02586,0.02586,0,0
2014-12-31,0.02476,0.02476,0,0
2015-01-30,0.02445,0.02445,0,0
2015-02-27,0.02647,0.02647,0,0
2015-03-31,0.02415,0.02415,0,0
2015-04-30,0.02477,0.02477,0,0
2015-05-29,0.02403,0.02403,0,0
2015-06-30,0.02411,0.02411,0,0
2015-07-31,0.02399,0.02399,0,0
2015-08-31,0.02368,0.02368,0,0
2015-09-30,0.02536,0.02536,0,0
2015-10-30,0.02569,0.02569,0,0
2015-11-30,0.02598,0.02598,0,0
2015-12-31,0.02427,0.02427,0,0
2016-01-29,0.02273,0.02273,0,0
2016-02-29,0.02316,0.02316,0,0
2016-03-31,0.02286,0.02286,0,0
2016-04-29,0.02385,0.02385,0,0
2016-05-31,0.02328,0.02328,0,0
2016-06-30,0.02453,0.02453,0,0
2016-07-29,0.02345,0.02345,0,0
2016-08-31,0.02320,0.02320,0,0
2016-09-30,0.02453,0.02453,0,0
2016-10-31,0.02357,0.02357,0,0
2016-11-30,0.02435,0.02435,0,0
2016-12-30,0.02439,0.02439,0,0
2017-01-31,0.02449,0.02449,0,0
2017-02-28,0.02661,0.02661,0,0
2017-03-31,0.02506,0.02506,0,0
2017-04-28,0.02631,0.02631,0,0
2017-05-31,0.02601,0.02601,0,0
2017-06-30,0.02642,0.02642,0,0
2017-07-31,0.02563,0.02563,0,0
2017-08-31,0.02532,0.02532,0,0
2017-09-29,0.02572,0.02572,0,0
2017-10-31,0.02511,0.02511,0,0
2017-11-30,0.02608,0.02608,0,0
2017-12-29,0.02584,0.02584,0,0
2018-01-31,0.02581,0.02581,0,0
2018-02-28,0.02830,0.02830,0,0
2018-03-29,0.02649,0.02649,0,0
2018-04-30,0.02756,0.02756,0,0
2018-05-31,0.02672,0.02672,0,0
2018-06-29,0.02743,0.02743,0,0
2018-07-31,0.02671,0.02671,0,0
2018-08-31,0.02703,0.02703,0,0
2018-09-28,0.02680,0.02680,0,0
2018-10-31,0.02742,0.02742,0,0
2018-11-30,0.02773,0.02773,0,0
2018-12-31,0.02743,0.02743,0,0
2019-01-31,0.02735,0.02735,0,0
2019-02-28,0.02947,0.02947,0,0
2019-03-29,0.02749,0.02749,0,0
2019-04-30,0.02825,0.02825,0,0
2019-05-31,0.02867,0.02867,0,0
2019-06-28,0.02988,0.02988,0,0
2019-07-31,0.02977,0.02977,0,0
2019-08-31,0.02963,0.02963,0,0
2019-09-30,0.02953,0.02953,0,0
2019-10-31,0.02832,0.02832,0,0
2019-11-30,0.02906,0.02906,0,0
2019-12-31,0.02852,0.02852,0,0
2020-01-31,0.02842,0.02842,0,0
2020-02-29,0.03080,0.03080,0,0
2020-03-31,0.03014,0.03014,0,0
2020-04-30,0.03063,0.03063,0,0
2020-05-31,0.02973,0.02973,0,0
2020-06-30,0.02939,0.02939,0,0
2020-07-31,0.02839,0.02839,0,0
2020-08-31,0.02782,0.02782,0,0
2020-09-30,0.02825,0.02825,0,0
2020-10-30,0.02735,0.02735,0,0
2020-11-30,0.02816,0.02816,0,0
2020-12-31,0.02730,0.02730,0,0
2021-01-29,0.02749,0.02749,0,0
2021-02-26,0.02926,0.02926,0,0
2021-03-31,0.02712,0.02712,0,0
2021-04-30,0.02762,0.02762,0,0
2021-05-28,0.02696,0.02696,0,0
2021-06-30,0.02780,0.02780,0,0
2021-07-30,0.02659,0.02659,0,0
2021-08-31,0.02627,0.02627,0,0
2021-09-30,0.02649,0.02649,0,0
2021-10-29,0.02550,0.02550,0,0
2021-11-30,0.02615,0.02615,0,0
2021-12-31,0.02499,0.02499,0,0
2022-01-31,0.02459,0.02459,0,0
2022-02-28,0.02694,0.02694,0,0
2022-03-31,0.02528,0.02528,0,0
2022-04-29,0.02843,0.02843,0,0
2022-05-31,0.02743,0.02743,0,0
2022-06-30,0.02825,0.02825,0,0
2022-07-29,0.02855,0.02855,0,0
2022-08-31,0.02921,0.02921,0,0
2022-09-30,0.02978,0.02978,0,0
2022-10-31,0.03070,0.03070,0,0
2022-11-30,0.03174,0.03174,0,0
2022-12-30,0.03225,0.03225,0,0

Distributions

(As of 31 Dec 2022)

Ex-Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

31 Jul 1991

0.02403

—

30 Aug 1991

0.07055

—

30 Sep 1991

0.06776

—

31 Oct 1991

0.06139

—

29 Nov 1991

0.06209

—

31 Dec 1991

0.07030

—

31 Jan 1992

0.06664

—

28 Feb 1992

0.06622

—

31 Mar 1992

0.06732

—

30 Apr 1992

0.06754

—

29 May 1992

0.06620

—

30 Jun 1992

0.06566

—

31 Jul 1992

0.06438

—

31 Aug 1992

0.06238

—

30 Sep 1992

0.06357

—

30 Oct 1992

0.06324

—

30 Nov 1992

0.06189

—

31 Dec 1992

0.06056

—

29 Jan 1993

0.06153

—

26 Feb 1993

0.06106

—

31 Mar 1993

0.05943

—

30 Apr 1993

0.05898

—

28 May 1993

0.05691

—

30 Jun 1993

0.05698

—

30 Jul 1993

0.05755

—

31 Aug 1993

0.05636

—

30 Sep 1993

0.05566

—

29 Oct 1993

0.05672

—

30 Nov 1993

0.07426

0.05616

0.00000

0.01810

31 Dec 1993

0.05531

—

31 Jan 1994

0.05595

—

28 Feb 1994

0.05376

—

31 Mar 1994

0.05637

—

29 Apr 1994

0.05457

—

31 May 1994

0.05326

—

30 Jun 1994

0.05154

—

29 Jul 1994

0.06282

—

31 Aug 1994

0.06101

—

30 Sep 1994

0.05544

—

31 Oct 1994

0.05495

—

30 Nov 1994

0.05552

—

30 Dec 1994

0.05532

—

31 Jan 1995

0.05665

—

28 Feb 1995

0.05689

—

31 Mar 1995

0.05654

—

28 Apr 1995

0.06083

—

31 May 1995

0.06042

—

30 Jun 1995

0.05550

—

31 Jul 1995

0.05593

—

31 Aug 1995

0.05617

—

29 Sep 1995

0.05628

—

31 Oct 1995

0.05626

—

30 Nov 1995

0.05622

—

29 Dec 1995

0.05599

—

31 Jan 1996

0.05675

—

29 Feb 1996

0.05714

—

29 Mar 1996

0.05648

—

30 Apr 1996

0.05686

—

31 May 1996

0.05629

—

28 Jun 1996

0.05674

—

31 Jul 1996

0.05634

—

30 Aug 1996

0.05608

—

30 Sep 1996

0.05611

—

31 Oct 1996

0.05619

—

29 Nov 1996

0.05624

—

31 Dec 1996

0.05511

—

31 Jan 1997

0.05546

—

28 Feb 1997

0.05628

—

31 Mar 1997

0.05543

—

30 Apr 1997

0.05564

—

30 May 1997

0.05496

—

30 Jun 1997

0.05506

—

31 Jul 1997

0.05319

—

29 Aug 1997

0.05336

—

30 Sep 1997

0.05367

—

31 Oct 1997

0.05309

—

28 Nov 1997

0.05318

—

31 Dec 1997

0.05290

—

30 Jan 1998

0.05306

—

27 Feb 1998

0.05374

—

31 Mar 1998

0.05229

—

30 Apr 1998

0.05264

—

29 May 1998

0.05206

—

30 Jun 1998

0.05200

—

31 Jul 1998

0.05172

—

31 Aug 1998

0.05146

—

30 Sep 1998

0.05199

—

30 Oct 1998

0.05151

—

30 Nov 1998

0.05195

—

31 Dec 1998

0.05182

—

29 Jan 1999

0.05146

—

26 Feb 1999

0.05274

—

31 Mar 1999

0.05141

—

30 Apr 1999

0.05186

—

28 May 1999

0.05136

—

30 Jun 1999

0.05204

—

30 Jul 1999

0.05179

—

31 Aug 1999

0.05050

—

30 Sep 1999

0.05061

—

29 Oct 1999

0.05062

—

30 Nov 1999

0.05167

—

31 Dec 1999

0.05163

—

31 Jan 2000

0.05163

—

29 Feb 2000

0.05214

—

31 Mar 2000

0.05192

—

28 Apr 2000

0.05246

—

31 May 2000

0.05244

—

30 Jun 2000

0.05283

—

31 Jul 2000

0.05269

—

31 Aug 2000

0.05246

—

29 Sep 2000

0.05277

—

31 Oct 2000

0.05191

—

30 Nov 2000

0.05164

—

29 Dec 2000

0.05157

—

31 Jan 2001

0.05354

—

28 Feb 2001

0.05224

—

30 Mar 2001

0.05127

—

30 Apr 2001

0.05138

—

31 May 2001

0.05158

—

29 Jun 2001

0.05178

—

31 Jul 2001

0.05081

—

31 Aug 2001

0.05034

—

28 Sep 2001

0.04969

—

31 Oct 2001

0.04898

—

30 Nov 2001

0.04867

—

31 Dec 2001

0.04763

—

31 Jan 2002

0.04819

—

28 Feb 2002

0.04793

—

28 Mar 2002

0.04725

—

30 Apr 2002

0.04725

—

31 May 2002

0.04698

—

28 Jun 2002

0.04607

—

31 Jul 2002

0.04469

—

30 Aug 2002

0.04411

—

30 Sep 2002

0.04413

—

31 Oct 2002

0.04406

—

29 Nov 2002

0.04456

—

31 Dec 2002

0.04427

—

31 Jan 2003

0.04391

—

28 Feb 2003

0.04378

—

31 Mar 2003

0.04268

—

30 Apr 2003

0.04272

—

30 May 2003

0.04258

—

30 Jun 2003

0.04248

—

31 Jul 2003

0.04243

—

29 Aug 2003

0.04465

—

30 Sep 2003

0.04398

—

31 Oct 2003

0.04369

—

28 Nov 2003

0.04363

—

31 Dec 2003

0.04306

—

30 Jan 2004

0.04255

—

27 Feb 2004

0.04300

—

31 Mar 2004

0.04265

—

30 Apr 2004

0.04273

—

28 May 2004

0.04343

—

30 Jun 2004

0.04405

—

30 Jul 2004

0.04343

—

31 Aug 2004

0.04221

—

30 Sep 2004

0.04171

—

29 Oct 2004

0.04091

—

30 Nov 2004

0.04109

—

31 Dec 2004

0.04022

—

31 Jan 2005

0.04035

—

28 Feb 2005

0.04144

—

31 Mar 2005

0.04065

—

29 Apr 2005

0.04143

—

31 May 2005

0.04104

—

30 Jun 2005

0.04102

—

29 Jul 2005

0.04102

—

31 Aug 2005

0.04149

—

30 Sep 2005

0.04061

—

31 Oct 2005

0.03984

—

30 Nov 2005

0.04030

—

30 Dec 2005

0.03994

—

31 Jan 2006

0.04178

—

28 Feb 2006

0.04004

—

31 Mar 2006

0.04132

—

28 Apr 2006

0.04148

—

31 May 2006

0.04138

—

30 Jun 2006

0.04219

—

31 Jul 2006

0.04201

—

31 Aug 2006

0.04201

—

29 Sep 2006

0.04195

—

31 Oct 2006

0.04179

—

30 Nov 2006

0.04196

—

29 Dec 2006

0.04189

—

31 Jan 2007

0.04201

—

28 Feb 2007

0.04286

—

30 Mar 2007

0.04217

—

30 Apr 2007

0.04267

—

31 May 2007

0.04225

—

29 Jun 2007

0.04166

—

31 Jul 2007

0.04231

—

31 Aug 2007

0.04266

—

28 Sep 2007

0.04290

—

31 Oct 2007

0.04241

—

30 Nov 2007

0.04249

—

31 Dec 2007

0.04216

—

31 Jan 2008

0.04211

—

29 Feb 2008

0.04372

—

31 Mar 2008

0.04359

—

30 Apr 2008

0.04335

—

30 May 2008

0.04201

—

30 Jun 2008

0.04324

—

31 Jul 2008

0.04307

—

29 Aug 2008

0.04350

—

30 Sep 2008

0.04442

—

31 Oct 2008

0.04449

—

28 Nov 2008

0.04415

—

31 Dec 2008

0.04455

—

30 Jan 2009

0.04492

—

27 Feb 2009

0.04567

—

31 Mar 2009

0.04449

—

30 Apr 2009

0.04479

—

29 May 2009

0.04474

—

30 Jun 2009

0.04488

—

31 Jul 2009

0.04549

—

31 Aug 2009

0.04468

—

30 Sep 2009

0.04335

—

30 Oct 2009

0.04233

—

30 Nov 2009

0.04387

—

31 Dec 2009

0.04292

—

29 Jan 2010

0.04264

—

26 Feb 2010

0.04245

—

31 Mar 2010

0.04063

—

30 Apr 2010

0.04133

—

28 May 2010

0.04048

—

30 Jun 2010

0.04043

—

30 Jul 2010

0.03920

—

31 Aug 2010

0.03835

—

30 Sep 2010

0.03693

—

29 Oct 2010

0.03667

—

30 Nov 2010

0.03799

—

31 Dec 2010

0.03945

—

31 Jan 2011

0.04074

—

28 Feb 2011

0.04222

—

31 Mar 2011

0.04126

—

29 Apr 2011

0.04137

—

31 May 2011

0.04033

—

30 Jun 2011

0.04086

—

29 Jul 2011

0.03900

—

31 Aug 2011

0.03854

—

30 Sep 2011

0.03750

—

31 Oct 2011

0.03758

—

30 Nov 2011

0.03722

—

30 Dec 2011

0.03757

—

31 Jan 2012

0.03490

—

29 Feb 2012

0.03354

—

30 Mar 2012

0.03175

—

30 Apr 2012

0.03150

—

31 May 2012

0.03166

—

29 Jun 2012

0.03258

—

31 Jul 2012

0.03181

—

31 Aug 2012

0.03094

—

28 Sep 2012

0.03111

—

31 Oct 2012

0.02998

—

30 Nov 2012

0.03017

—

31 Dec 2012

0.02911

—

31 Jan 2013

0.02913

—

28 Feb 2013

0.02894

—

28 Mar 2013

0.02666

—

30 Apr 2013

0.02692

—

31 May 2013

0.02616

—

28 Jun 2013

0.02687

—

31 Jul 2013

0.02648

—

30 Aug 2013

0.02616

—

30 Sep 2013

0.02756

—

31 Oct 2013

0.02779

—

29 Nov 2013

0.02819

—

31 Dec 2013

0.02846

—

31 Jan 2014

0.02820

—

28 Feb 2014

0.03124

—

31 Mar 2014

0.02905

—

30 Apr 2014

0.02870

—

30 May 2014

0.02720

—

30 Jun 2014

0.02798

—

31 Jul 2014

0.02797

—

29 Aug 2014

0.02755

—

30 Sep 2014

0.02696

—

31 Oct 2014

0.02562

—

28 Nov 2014

0.02586

—

31 Dec 2014

0.02476

—

30 Jan 2015

0.02445

—

27 Feb 2015

0.02647

—

31 Mar 2015

0.02415

—

30 Apr 2015

0.02477

—

29 May 2015

0.02403

—

30 Jun 2015

0.02411

—

31 Jul 2015

0.02399

—

31 Aug 2015

0.02368

—

30 Sep 2015

0.02536

—

30 Oct 2015

0.02569

—

30 Nov 2015

0.02598

—

31 Dec 2015

0.02427

—

29 Jan 2016

0.02273

—

29 Feb 2016

0.02316

—

31 Mar 2016

0.02286

—

29 Apr 2016

0.02385

—

31 May 2016

0.02328

—

30 Jun 2016

0.02453

—

29 Jul 2016

0.02345

—

31 Aug 2016

0.02320

—

30 Sep 2016

0.02453

—

31 Oct 2016

0.02357

—

30 Nov 2016

0.02435

—

30 Dec 2016

0.02439

—

31 Jan 2017

0.02449

—

28 Feb 2017

0.02661

—

31 Mar 2017

0.02506

—

28 Apr 2017

0.02631

—

31 May 2017

0.02601

—

30 Jun 2017

0.02642

—

31 Jul 2017

0.02563

—

31 Aug 2017

0.02532

—

29 Sep 2017

0.02572

—

31 Oct 2017

0.02511

—

30 Nov 2017

0.02608

—

29 Dec 2017

0.02584

—

31 Jan 2018

0.02581

—

28 Feb 2018

0.02830

—

29 Mar 2018

0.02649

—

30 Apr 2018

0.02756

—

31 May 2018

0.02672

—

29 Jun 2018

0.02743

—

31 Jul 2018

0.02671

—

31 Aug 2018

0.02703

—

28 Sep 2018

0.02680

—

31 Oct 2018

0.02742

—

30 Nov 2018

0.02773

—

31 Dec 2018

0.02743

—

31 Jan 2019

0.02735

—

28 Feb 2019

0.02947

—

29 Mar 2019

0.02749

—

30 Apr 2019

0.02825

—

31 May 2019

0.02867

—

28 Jun 2019

0.02988

—

31 Jul 2019

0.02977

—

31 Aug 2019

0.02963

—

30 Sep 2019

0.02953

—

31 Oct 2019

0.02832

—

30 Nov 2019

0.02906

—

31 Dec 2019

0.02852

—

31 Jan 2020

0.02842

—

29 Feb 2020

0.03080

—

31 Mar 2020

0.03014

—

30 Apr 2020

0.03063

—

31 May 2020

0.02973

—

30 Jun 2020

0.02939

—

31 Jul 2020

0.02839

—

31 Aug 2020

0.02782

—

30 Sep 2020

0.02825

—

30 Oct 2020

0.02735

—

30 Nov 2020

0.02816

—

31 Dec 2020

0.02730

—

29 Jan 2021

0.02749

—

26 Feb 2021

0.02926

—

31 Mar 2021

0.02712

—

30 Apr 2021

0.02762

—

28 May 2021

0.02696

—

30 Jun 2021

0.02780

—

30 Jul 2021

0.02659

—

31 Aug 2021

0.02627

—

30 Sep 2021

0.02649

—

29 Oct 2021

0.02550

—

30 Nov 2021

0.02615

—

31 Dec 2021

0.02499

—

31 Jan 2022

0.02459

—

28 Feb 2022

0.02694

—

31 Mar 2022

0.02528

—

29 Apr 2022

0.02843

—

31 May 2022

0.02743

—

30 Jun 2022

0.02825

—

29 Jul 2022

0.02855

—

31 Aug 2022

0.02921

—

30 Sep 2022

0.02978

—

31 Oct 2022

0.03070

—

30 Nov 2022

0.03174

—

30 Dec 2022

0.03225

—

Fund Facts

(As of 31 Dec 2022)

Net Fund Assets

$913.5 M

Benchmark

ICE BofA 3-15 Yr US Muni

Morningstar Category

Muni National Intermediate

Fund Symbol

THIMX

Share Class

Share Class Inception Date

22 Jul 1991

Number of Holdings

467

Portfolio Turnover

19%

Distribution Frequency

Monthly

30-Day SEC Yield (Subsidized)

2.64%

30-Day SEC Yield (Unsubsidized)

2.50%

Annualized Distribution Yield

2.82%

Characteristics

Portfolio

(As of 31 Dec 2022)

Portfolio

Benchmark

Effective Duration

4.6 Yrs

5.3 Yrs

Average Effective Maturity

8.3 Yrs

9.7 Yrs

Weighted Average Coupon

4.8%

4.4%

Portfolio

Benchmark

Yield to Worst

3.6%

3.2%

Subject to Alternative Minimum Tax

6.5%

—

Risk & Return Profile

(As of 31 Dec 2022)

10y

Annualized Alpha (%)

-0.14

-0.23

-0.09

Standard Deviation (%)

4.09

3.28

2.65

Sharpe Ratio

-0.30

-0.07

0.34

Up Capture (%)

82.73

82.88

83.74

Down Capture (%)

83.69

84.27

84.09

Past performance does not guarantee future results.

Portfolio

Top Holdings

(As of 30 Nov 2022)

Name

Ticker/Symbol

Sector

Weight %

Commonwealth of Massachusetts

576002DG1

Dedicated Tax

1.1

The Hospitals & Higher Education Facilities Authority of Philadelphia

—

Hospital

1.0

City of Chicago IL

167486ZY8

Local General Obligation

0.9

Chicago O'Hare International Airport

167593A44

Airport

0.9

Tennessee Energy Acquisition Corp.

880443BQ8

Gas

0.8

Bucks County Industrial Development Authority

11861NAA2

Industrial Development/Pollution Control

0.8

Kentucky Public Energy Authority

74440DAR5

Gas

0.7

Metropolitan Transportation Authority

59261AJR9

Other Transportation

0.7

UAB Medicine Finance Authority

902562AR8

Hospital

0.7

Main Street Natural Gas, Inc.

56035DBR2

Gas

0.7

Download Holdings

Exposure Breakdown

(As of 31 Dec 2022)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Hospital

11.4

5.1

Appropriation

8.7

4.8

Prerefunded / Escrow to Maturity

8.1

—

Local General Obligation

7.8

9.4

Airport

7.2

3.8

Dedicated Tax

6.8

15.6

State General Obligation

5.1

20.7

Gas

5.0

—

Water/Sewer

4.3

5.8

School District General Obligation

4.0

—

Sector Allocation

Fund (%)

Hospital

11.4

Appropriation

8.7

Prerefunded / Escrow to Maturity

8.1

Local General Obligation

7.8

Airport

7.2

Dedicated Tax

6.8

State General Obligation

5.1

Gas

5.0

Water/Sewer

4.3

School District General Obligation

4.0

Top 10 U.S. States

Fund (%)

Benchmark (%)

Portfolio

Benchmark

10%

15%

20%

25%

30%

Illinois

14.8

5.3

Pennsylvania

9.5

3.5

Texas

8.6

6.3

New York

6.5

20.5

Florida

5.7

2.3

New Jersey

5.0

5.2

California

4.1

18.5

Ohio

3.7

1.9

3.1

0.8

Washington

2.5

2.9

Top 10 U.S. States

Fund (%)

Illinois

14.8

Pennsylvania

9.5

Texas

8.6

New York

6.5

Florida

5.7

New Jersey

5.0

California

4.1

Ohio

3.7

3.1

Washington

2.5

Credit Quality

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

AAA

2.5

13.4

45.5

57.5

35.6

22.7

BBB

6.2

6.4

Not Rated

0.9

—

Cash & Cash Equivalents

9.4

—

Credit Quality

Fund (%)

AAA

2.5

45.5

35.6

BBB

6.2

Not Rated

0.9

Cash & Cash Equivalents

9.4

Maturity

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

Year 1-2

13.2

—

Year 3-4

6.9

12.0

Year 5-6

9.2

19.1

Year 7-8

11.0

16.2

Year 9-10

10.5

14.6

Year 11-12

9.3

13.0

Year 13-14

10.0

13.0

Year 15-16

7.8

5.0

Year 17+

12.6

6.0

Cash

9.4

—

Maturity

Fund (%)

Year 1-2

13.2

Year 3-4

6.9

Year 5-6

9.2

Year 7-8

11.0

Year 9-10

10.5

Year 11-12

9.3

Year 13-14

10.0

Year 15-16

7.8

Year 17+

12.6

Cash

9.4

Holdings within 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.

Percentages may not add up to 100 due to rounding.

Portfolio Managers

David Ashley, CFA

Portfolio Manager and Managing Director

David Ashley is portfolio manager for Thornburg Investment Management. He joined Thornburg as associate portfolio manager in 2011 and was named portfolio manager in 2019. Dave earned a BS in finance and MBA from the University of Delaware in 2001. He is also a CFA charterholder. Prior to joining Thornburg Investment Management, Dave was a credit analyst for Wilmington Trust…

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John Bonnell, CFA

Portfolio Manager and Managing Director

John Bonnell, CFA, is portfolio manager and managing director for Thornburg Investment Management. He joined Thornburg’s municipal team in 2021. John has over 30 years of municipal bond investing experience. He spent 25 years of his career at USAA where he was most recently a senior portfolio manager and, in 2010, took on responsibility for co-leading municipal bond strategies. Earlier…

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Eve Lando, JD

Portfolio Manager and Managing Director

Eve Lando is portfolio manager for Thornburg Investment Management. She joined Thornburg's municipal team in 2019 as associate portfolio manager and was named portfolio manager in 2020. Eve holds a BA in urban studies from Columbia University and a JD from Brooklyn Law School, with a concentration in business law studies. She has extensive experience in municipal bond research and…

Learn More

Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Report

Semi-annual report

Prospectus

Statement of Additional Information (SAI)

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. 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. Unlike bonds, bond funds have ongoing fees and expenses. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

Credit quality ratings use the highest rating available from either S&P Global Ratings or Moody's Investors Service. Where neither rating is available, we have used ratings from other nationally recognized statistical rating organizations (NRSROs).

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.

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

Income earned from municipal bonds is exempt from regular federal and in some cases, state and local income tax. Income may be subject to the alternative minimum tax (AMT).

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

The laddering strategy does not assure or guarantee better performance than a non-laddered portfolio and cannot eliminate the risk of investment losses.

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.

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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Thornburg Intermediate Municipal Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

David Ashley, CFA

John Bonnell, CFA

Eve Lando, JD

Literature

Important Information

More Insights

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Fed Pivot in the Cards? Why the Third Mandate Matters

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Thornburg Intermediate Municipal Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

David Ashley, CFA

John Bonnell, CFA

Eve Lando, JD

Literature

Important Information

More Insights

2022 in Perspective

Fed Pivot in the Cards? Why the Third Mandate Matters

This Year, Give the Gift of Generations