Unsubscribe

Confirm you would like to unsubscribe from this list

Remove strategy

Confirm you would like to remove this strategy from your list

Welcome to Thornburg

Please select your location and role to help personalize the site.
Please review our Terms & Conditions

For Institutional / Wholesale / Professional Clients

The content on this website is intended for institutional and professional investors in the United States only and is not suitable for individual investors or non-U.S. entities. Institutional and professional investors include pension funds, investment companies registered under the Investment Company Act of 1940, financial intermediaries, consultants, endowments and foundations, and investment advisors registered under the Investment Advisors Act of 1940.

TERMS AND CONDITIONS OF USE

Please read the information below. By accessing this web site of Thornburg Investment Management, Inc. ("Thornburg" or "we"), you acknowledge that you understand and accept the following terms and conditions of use.

Disclaimers

Products or services mentioned on this site are subject to legal and regulatory requirements in applicable jurisdictions and may not be licensed or available in all jurisdictions and there may be restrictions or limitations to whom this information may be made available. Unless otherwise indicated, no regulator or government authority has reviewed the information or the merits of the products and services referenced herein. Past performance is not a reliable indicator of future performance. Investments carry risks, including possible loss of principal.

Reference to a fund or security anywhere on this website is not a recommendation to buy, sell or hold that or any other security. The information is not a complete analysis of every material fact concerning any market, industry, or investment, nor is it intended to predict the performance of any investment or market.

All opinions and estimates included on this website constitute judgements of Thornburg as at the date of this website and are subject to change without notice.

All information and contents of this website are furnished "as is." Data has been obtained from sources considered reliable, but Thornburg makes no representation as to the completeness or accuracy of such information and has no obligation to provide updates or changes. Thornburg disclaims, to the fullest extent of the law, any implied or express warranty of any kind, including without limitation the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

If you live in a state that does not allow disclaimers of implied warranties, our disclaimer may not apply to you.

Although Thornburg intends the information contained in this website to be accurate and reliable, errors sometimes occur. Thornburg does not warrant that the information to be free of errors, that the functions contained in the site will be uninterrupted, that defects will be corrected or that the site and servers are free from viruses or other harmful components. You agree that you are responsible for the means you use to access this website and understand that your hardware, software, the Internet, your Internet service provider, and other third parties involved in connecting you to our website may not perform as intended or desired. We also disclaim responsibility for damages third parties may cause to you through the use of this website, whether intentional or unintentional. For example, you understand that hackers could breach our security procedures, and that we will not be responsible for any related damages.

Thornburg Investment Management, Inc. is regulated by the U.S. Securities and Exchange under U.S. laws which may differ materially from laws in other jurisdictions.

Online Privacy and Cookie Policy

Please review our Online Privacy and Cookie Policy, which is hereby incorporated by reference as part of these terms and conditions.

Third Party Content

Certain website's content has been obtained from sources that Thornburg believes to be reliable as of the date presented but Thornburg cannot guarantee the accuracy, timeliness, completeness, or suitability for use of such content. The content does not take into account individual investor's circumstances, objectives or needs. The content is not intended as an offer or solicitation with respect to the purchase or sale of any security or other financial instrument or any investment management services, nor does it constitute investment advice and should not be used as the basis for any investment decision.

Suitability

No determination has been made regarding the suitability of any securities, financial instruments or strategies for any investor. The website's content is provided on the basis and subject to the explanations, caveats and warnings set out in this notice and elsewhere herein. The website's content does not purport to provide any legal, tax or accounting advice. Any discussion of risk management is intended to describe Thornburg's efforts to monitor and manage risk but does not imply low risk.

Limited License and Restrictions on Use

Except as otherwise stated in these terms of use or as expressly authorized by Thornburg in writing, you may not:

  • Modify, copy, distribute, transmit, post, display, perform, reproduce, publish, broadcast, license, create derivative works from, transfer, sell, or exploit any reports, data, information, content, software, RSS and podcast feeds, products, services, or other materials (collectively, "Materials") on, generated by or obtained from this website, whether through links or otherwise;
  • Redeliver any page, text, image or Materials on this website using "framing" or other technology;
  • Engage in any conduct that could damage, disable, or overburden (i) this website, (ii) any Materials or services provided through this website, or (iii) any systems, networks, servers, or accounts related to this website, including without limitation, using devices or software that provide repeated automated access to this website, other than those made generally available by Thornburg;
  • Probe, scan, or test the vulnerability of any Materials, services, systems, networks, servers, or accounts related to this website or attempt to gain unauthorized access to Materials, services, systems, networks, servers, or accounts connected or associated with this website through hacking, password or data mining, or any other means of circumventing any access-limiting, user authentication or security device of any Materials, services, systems, networks, servers, or accounts related to this website; or
  • Modify, copy, obscure, remove or display the Thornburg name, logo, trademarks, notices or images without Thornburg's express written permission. To obtain such permission, you may e-mail us at info@thornburg.com.

Severability, Governing Law

Failure by Thornburg to enforce any provision(s) of these terms and conditions shall not be construed as a waiver of any provision or right. This website is controlled and operated by Thornburg from its offices in Santa Fe, New Mexico. The laws of the State of New Mexico govern these terms and conditions. If you take legal action relating to these terms and conditions, you agree to file such action only in state or federal court in New Mexico and you consent and submit to the personal jurisdiction of those courts for the purposes of litigating any such action.

Termination

You acknowledge and agree that Thornburg may restrict, suspend or terminate these terms and conditions or your access to, and use, of the all or any part this website, including any links to third-party sites, at any time, with or without cause, including but not limited to any breach of these terms and conditions, in Thornburg's absolute discretion and without prior notice or liability.

Decline

Give Us a Call

Fund Operations
800.847.0200

FIND ANOTHER CONTACT

Thornburg Limited Term Income Fund

Morningstar Rating  • Info

Overall Morningstar Rating among 550 Short-Term Bond funds, based on risk-adjusted returns for class I shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 4 stars, 4 stars and 5 stars among 550, 487 and 335 funds, as of 31 Aug 2022.

As of 31 Aug 2022
Fund Assets
$8.5 B
As of 31 Aug 2022
NAV
$12.34
As of 27 Sep 2022
Change
$-0.03
As of 27 Sep 2022
YTD NAV Performance
-8.57%
As of 27 Sep 2022
Asset Category:
Global Fixed Income
Fund Benchmark:
BBG Int US Govt/Credit TR Value
Portfolio Managers
President and CEO
Portfolio Manager and Managing Director
Co-Head of Investments and Managing Director
Overview

Overview

 

Why Invest in This Fund?

  • Flexible, active high-quality portfolio that consists primarily of U.S short- and intermediate-term investment grade bonds.
  • Proven bottom-up fundamental approach that seeks to identify attractive fixed income opportunities on a relative value basis.
  • Highly active strategy that seeks to deliver total return through income and preserve capital with moderate interest rate exposure.

Investment Objective

The fund’s goal is to provide investors as high a level of current income as is consistent with safety of capital. The fund also seeks to reduce changes in its share price compared to longer term portfolios.

Investment Approach

The fund employs a flexible and highly active approach to construct a portfolio of U.S. dollar–denominated short/intermediate investment grade bonds. It is designed for stability, capital preservation and moderate interest rate exposure. The fund seeks to drive returns through income and superior relative value issue selection in a dynamically changing fixed income environment.

Performance

Performance

Returns

(As of 30 Jun 2022)
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-6.31
-6.60
0.57
1.56
2.18
4.69
BBG Int US Govt/Credit TR Value (%)
-6.77
-7.28
-0.16
1.13
1.45
4.32
Morningstar Category Avg. (%)
-4.86
-5.19
0.18
1.08
1.26
Morningstar Quartile
4
1
1
1
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-6.00
-6.74
0.26
1.46
2.04
4.67
BBG Int US Govt/Credit TR Value (%)
-7.14
-8.20
-0.87
0.84
1.29
4.28
Morningstar Category Avg. (%)
-4.64
-5.23
-0.03
1
1.16
Morningstar Quartile
4
2
1
1
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-6.31
-6.60
1.71
8.04
24.04
291.01
BBG Int US Govt/Credit TR Value (%)
-6.77
-7.28
-0.49
5.79
15.52
252.00
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-6.00
-6.74
0.77
7.50
22.33
292.28
BBG Int US Govt/Credit TR Value (%)
-7.14
-8.20
-2.58
4.26
13.73
250.59
2016
2017
2018
2019
2020
2021
Total Return (%)
3.49
2.73
1.22
5.75
7.59
-0.80
BBG Int US Govt/Credit TR Value (%)
2.08
2.14
0.88
6.80
6.43
-1.44
Fund Fees

Fund Fees

(As of 30 Jun 2022)
Gross Expense Ratio (%)
0.50
Net Expense Ratio (%)
0.49
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 31 Aug 2022)
(Hypothetical Growth of $10,000 vs BBG Int US Govt/Credit TR Value)
Distributions

Distributions

(As of 31 Aug 2022)
Ex-Date
Total ($)
Income ($)
ST Cap Gains ($)
LT Cap Gains ($)
31 Jul 1996
0.05713
0.05713
30 Aug 1996
0.06692
0.06692
30 Sep 1996
0.06748
0.06748
31 Oct 1996
0.06744
0.06744
29 Nov 1996
0.06669
0.06669
31 Dec 1996
0.06808
0.06808
31 Jan 1997
0.06808
0.06808
28 Feb 1997
0.06545
0.06545
31 Mar 1997
0.06710
0.06710
30 Apr 1997
0.06630
0.06630
30 May 1997
0.06644
0.06644
30 Jun 1997
0.06587
0.06587
31 Jul 1997
0.06646
0.06646
29 Aug 1997
0.06573
0.06573
30 Sep 1997
0.06391
0.06391
31 Oct 1997
0.06530
0.06530
28 Nov 1997
0.06428
0.06428
31 Dec 1997
0.06284
0.06284
30 Jan 1998
0.06361
0.06361
27 Feb 1998
0.06308
0.06308
31 Mar 1998
0.06272
0.06272
30 Apr 1998
0.06174
0.06174
29 May 1998
0.06217
0.06217
30 Jun 1998
0.06200
0.06200
31 Jul 1998
0.06196
0.06196
31 Aug 1998
0.06263
0.06263
30 Sep 1998
0.06150
0.06150
30 Oct 1998
0.06113
0.06113
30 Nov 1998
0.06069
0.06069
31 Dec 1998
0.06123
0.06123
29 Jan 1999
0.06108
0.06108
26 Feb 1999
0.06158
0.06158
31 Mar 1999
0.06117
0.06117
30 Apr 1999
0.06050
0.06050
28 May 1999
0.06093
0.06093
30 Jun 1999
0.06094
0.06094
30 Jul 1999
0.06040
0.06040
31 Aug 1999
0.06065
0.06065
30 Sep 1999
0.05996
0.05996
29 Oct 1999
0.06093
0.06093
30 Nov 1999
0.06159
0.06159
31 Dec 1999
0.06280
0.06280
31 Jan 2000
0.06208
0.06208
29 Feb 2000
0.06285
0.06285
31 Mar 2000
0.06369
0.06369
28 Apr 2000
0.06545
0.06545
31 May 2000
0.06555
0.06555
30 Jun 2000
0.06581
0.06581
31 Jul 2000
0.06584
0.06584
31 Aug 2000
0.06585
0.06585
29 Sep 2000
0.06589
0.06589
31 Oct 2000
0.06577
0.06577
30 Nov 2000
0.06559
0.06559
29 Dec 2000
0.06543
0.06543
31 Jan 2001
0.06558
0.06558
28 Feb 2001
0.06490
0.06490
30 Mar 2001
0.06536
0.06536
30 Apr 2001
0.06445
0.06445
31 May 2001
0.06415
0.06415
29 Jun 2001
0.06475
0.06475
31 Jul 2001
0.06274
0.06274
31 Aug 2001
0.06099
0.06099
28 Sep 2001
0.05905
0.05905
31 Oct 2001
0.05897
0.05897
30 Nov 2001
0.05811
0.05811
31 Dec 2001
0.05587
0.05587
31 Jan 2002
0.05564
0.05564
28 Feb 2002
0.05313
0.05313
28 Mar 2002
0.05478
0.05478
30 Apr 2002
0.05459
0.05459
31 May 2002
0.05475
0.05475
28 Jun 2002
0.05388
0.05388
31 Jul 2002
0.05099
0.05099
30 Aug 2002
0.04974
0.04974
30 Sep 2002
0.04980
0.04980
31 Oct 2002
0.05030
0.05030
29 Nov 2002
0.04896
0.04896
31 Dec 2002
0.04670
0.04670
31 Jan 2003
0.04449
0.04449
28 Feb 2003
0.04167
0.04167
31 Mar 2003
0.04572
0.04572
30 Apr 2003
0.04867
0.04867
30 May 2003
0.04783
0.04783
30 Jun 2003
0.04279
0.04279
31 Jul 2003
0.04183
0.04183
29 Aug 2003
0.04353
0.04353
30 Sep 2003
0.04386
0.04386
31 Oct 2003
0.04133
0.04133
28 Nov 2003
0.04047
0.04047
31 Dec 2003
0.03909
0.03909
30 Jan 2004
0.03860
0.03860
27 Feb 2004
0.03903
0.03903
31 Mar 2004
0.03774
0.03774
30 Apr 2004
0.03819
0.03819
28 May 2004
0.03774
0.03774
30 Jun 2004
0.03800
0.03800
30 Jul 2004
0.03847
0.03847
31 Aug 2004
0.03974
0.03974
30 Sep 2004
0.04115
0.04115
29 Oct 2004
0.04029
0.04029
30 Nov 2004
0.03972
0.03972
31 Dec 2004
0.04259
0.04259
31 Jan 2005
0.04023
0.04023
28 Feb 2005
0.04094
0.04094
31 Mar 2005
0.04053
0.04053
29 Apr 2005
0.04126
0.04126
31 May 2005
0.04060
0.04060
30 Jun 2005
0.04116
0.04116
29 Jul 2005
0.04179
0.04179
31 Aug 2005
0.05950
0.05950
30 Sep 2005
0.04411
0.04411
31 Oct 2005
0.04202
0.04202
30 Nov 2005
0.04395
0.04395
30 Dec 2005
0.04498
0.04498
31 Jan 2006
0.04630
0.04630
28 Feb 2006
0.04210
0.04210
31 Mar 2006
0.04419
0.04419
28 Apr 2006
0.04499
0.04499
31 May 2006
0.04559
0.04559
30 Jun 2006
0.04560
0.04560
31 Jul 2006
0.04584
0.04584
31 Aug 2006
0.04711
0.04711
29 Sep 2006
0.04766
0.04766
31 Oct 2006
0.04747
0.04747
30 Nov 2006
0.04620
0.04620
29 Dec 2006
0.04768
0.04768
31 Jan 2007
0.04281
0.04281
28 Feb 2007
0.04291
0.04291
30 Mar 2007
0.04347
0.04347
30 Apr 2007
0.04524
0.04524
31 May 2007
0.04471
0.04471
29 Jun 2007
0.04607
0.04607
31 Jul 2007
0.04689
0.04689
31 Aug 2007
0.04631
0.04631
28 Sep 2007
0.04592
0.04592
31 Oct 2007
0.04656
0.04656
30 Nov 2007
0.04673
0.04673
31 Dec 2007
0.04793
0.04793
31 Jan 2008
0.04771
0.04771
29 Feb 2008
0.04790
0.04790
31 Mar 2008
0.04954
0.04954
30 Apr 2008
0.04903
0.04903
30 May 2008
0.04864
0.04864
30 Jun 2008
0.04930
0.04930
31 Jul 2008
0.04965
0.04965
29 Aug 2008
0.05499
0.05499
30 Sep 2008
0.05029
0.05029
31 Oct 2008
0.05415
0.05415
28 Nov 2008
0.05516
0.05516
31 Dec 2008
0.05391
0.05391
30 Jan 2009
0.05278
0.05278
27 Feb 2009
0.05282
0.05282
31 Mar 2009
0.05305
0.05305
30 Apr 2009
0.05412
0.05412
29 May 2009
0.05475
0.05475
30 Jun 2009
0.05402
0.05402
31 Jul 2009
0.05329
0.05329
31 Aug 2009
0.05301
0.05301
30 Sep 2009
0.05344
0.05344
30 Oct 2009
0.05253
0.05253
30 Nov 2009
0.05092
0.05092
31 Dec 2009
0.05004
0.05004
29 Jan 2010
0.04910
0.04910
26 Feb 2010
0.04855
0.04855
31 Mar 2010
0.04612
0.04612
30 Apr 2010
0.04556
0.04556
28 May 2010
0.04426
0.04426
30 Jun 2010
0.04398
0.04398
30 Jul 2010
0.04411
0.04411
31 Aug 2010
0.04488
0.04488
30 Sep 2010
0.04379
0.04379
29 Oct 2010
0.04428
0.04428
30 Nov 2010
0.08521
0.04454
0.00000
0.04067
31 Dec 2010
0.04391
0.04391
31 Jan 2011
0.04422
0.04422
28 Feb 2011
0.04458
0.04458
31 Mar 2011
0.04306
0.04306
29 Apr 2011
0.04247
0.04247
31 May 2011
0.04104
0.04104
30 Jun 2011
0.04166
0.04166
29 Jul 2011
0.04072
0.04072
31 Aug 2011
0.04070
0.04070
30 Sep 2011
0.04223
0.04223
31 Oct 2011
0.04171
0.04171
30 Nov 2011
0.13713
0.04459
0.01648
0.07606
30 Dec 2011
0.04509
0.04509
31 Jan 2012
0.03944
0.03944
29 Feb 2012
0.03983
0.03983
30 Mar 2012
0.03846
0.03846
30 Apr 2012
0.03780
0.03780
31 May 2012
0.03775
0.03775
29 Jun 2012
0.03680
0.03680
31 Jul 2012
0.03565
0.03565
31 Aug 2012
0.03664
0.03664
28 Sep 2012
0.03614
0.03614
31 Oct 2012
0.03608
0.03608
30 Nov 2012
0.09569
0.03590
0.03515
0.02464
31 Dec 2012
0.03490
0.03490
31 Jan 2013
0.03425
0.03425
28 Feb 2013
0.03204
0.03204
28 Mar 2013
0.03093
0.03093
30 Apr 2013
0.03047
0.03047
31 May 2013
0.03073
0.03073
28 Jun 2013
0.02927
0.02927
31 Jul 2013
0.02972
0.02972
30 Aug 2013
0.02978
0.02978
30 Sep 2013
0.03084
0.03084
31 Oct 2013
0.02836
0.02836
29 Nov 2013
0.13885
0.02889
0.03557
0.07439
31 Dec 2013
0.03085
0.03085
31 Jan 2014
0.02963
0.02963
28 Feb 2014
0.03038
0.03038
31 Mar 2014
0.03032
0.03032
30 Apr 2014
0.03063
0.03063
30 May 2014
0.03066
0.03066
30 Jun 2014
0.02811
0.02811
31 Jul 2014
0.02639
0.02639
29 Aug 2014
0.02590
0.02590
30 Sep 2014
0.02508
0.02508
31 Oct 2014
0.02593
0.02593
28 Nov 2014
0.09711
0.02614
0.01311
0.05786
31 Dec 2014
0.02680
0.02680
30 Jan 2015
0.02725
0.02725
27 Feb 2015
0.02739
0.02739
31 Mar 2015
0.02747
0.02747
30 Apr 2015
0.02599
0.02599
29 May 2015
0.02583
0.02583
30 Jun 2015
0.02635
0.02635
31 Jul 2015
0.02531
0.02531
31 Aug 2015
0.02623
0.02623
30 Sep 2015
0.02643
0.02643
30 Oct 2015
0.02429
0.02429
30 Nov 2015
0.02405
0.02405
31 Dec 2015
0.02459
0.02459
29 Jan 2016
0.02373
0.02373
29 Feb 2016
0.02507
0.02507
31 Mar 2016
0.02700
0.02700
29 Apr 2016
0.02691
0.02691
31 May 2016
0.02698
0.02698
30 Jun 2016
0.02600
0.02600
29 Jul 2016
0.02516
0.02516
31 Aug 2016
0.02439
0.02439
30 Sep 2016
0.02218
0.02218
31 Oct 2016
0.02292
0.02292
30 Nov 2016
0.02400
0.02400
30 Dec 2016
0.02445
0.02445
31 Jan 2017
0.02381
0.02381
28 Feb 2017
0.02376
0.02376
31 Mar 2017
0.02476
0.02476
28 Apr 2017
0.02512
0.02512
31 May 2017
0.02441
0.02441
30 Jun 2017
0.02493
0.02493
31 Jul 2017
0.02494
0.02494
31 Aug 2017
0.02548
0.02548
29 Sep 2017
0.02541
0.02541
31 Oct 2017
0.02579
0.02579
30 Nov 2017
0.02676
0.02676
29 Dec 2017
0.02581
0.02581
31 Jan 2018
0.02644
0.02644
28 Feb 2018
0.02619
0.02619
29 Mar 2018
0.02796
0.02796
30 Apr 2018
0.02838
0.02838
31 May 2018
0.02892
0.02892
29 Jun 2018
0.03009
0.03009
31 Jul 2018
0.02985
0.02985
31 Aug 2018
0.02926
0.02926
28 Sep 2018
0.02882
0.02882
31 Oct 2018
0.03019
0.03019
30 Nov 2018
0.03090
0.03090
31 Dec 2018
0.03166
0.03166
31 Jan 2019
0.03106
0.03106
28 Feb 2019
0.03111
0.03111
29 Mar 2019
0.03249
0.03249
30 Apr 2019
0.03256
0.03256
31 May 2019
0.03243
0.03243
28 Jun 2019
0.03258
0.03258
31 Jul 2019
0.03084
0.03084
31 Aug 2019
0.02963
0.02963
30 Sep 2019
0.02988
0.02988
31 Oct 2019
0.02843
0.02843
30 Nov 2019
0.12318
0.02802
0.06730
0.02786
31 Dec 2019
0.02841
0.02841
31 Jan 2020
0.02642
0.02642
29 Feb 2020
0.02506
0.02506
31 Mar 2020
0.02776
0.02776
30 Apr 2020
0.02954
0.02954
31 May 2020
0.02713
0.02713
30 Jun 2020
0.02503
0.02503
31 Jul 2020
0.02475
0.02475
31 Aug 2020
0.02454
0.02454
30 Sep 2020
0.02402
0.02402
30 Oct 2020
0.02213
0.02213
30 Nov 2020
0.18858
0.02032
0.15003
0.01823
31 Dec 2020
0.01942
0.01942
29 Jan 2021
0.01841
0.01841
26 Feb 2021
0.01909
0.01909
31 Mar 2021
0.01845
0.01845
30 Apr 2021
0.01872
0.01872
28 May 2021
0.01870
0.01870
30 Jun 2021
0.01838
0.01838
30 Jul 2021
0.01780
0.01780
31 Aug 2021
0.01813
0.01813
30 Sep 2021
0.01744
0.01744
29 Oct 2021
0.01684
0.01684
30 Nov 2021
0.01747
0.01747
31 Dec 2021
0.01893
0.01893
31 Jan 2022
0.01735
0.01735
28 Feb 2022
0.01744
0.01744
31 Mar 2022
0.01977
0.01977
29 Apr 2022
0.02252
0.02252
31 May 2022
0.02539
0.02539
30 Jun 2022
0.02494
0.02494
29 Jul 2022
0.02840
0.02840
31 Aug 2022
0.03331
0.03331
Fund Facts

Fund Facts

(As of 31 Aug 2022)
Net Fund Assets
$8.5 B
Benchmark
BBG Int US Govt/Credit TR Value
Morningstar Category
Short-Term Bond
Fund Symbol
THIIX
Share Class
I
Share Class Inception Date
5 Jul 1996
Number of Holdings
787
Portfolio Turnover
33%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized)
3.70%
30-Day SEC Yield (Unsubsidized)
3.69%
Annualized Distribution Yield
3.04%
Characteristics

Characteristics

Portfolio

(As of 31 Aug 2022)
Portfolio
Benchmark
Effective Duration
3.0 Yrs
3.9 Yrs
Average Effective Maturity
4.1 Yrs
4.2 Yrs
Portfolio
Benchmark
Weighted Average Coupon
2.5%
2.1%
Yield to Worst
4.7%
3.8%
Risk & Return Profile

Risk & Return Profile

(As of 31 Jul 2022)
3y
5y
10y
Beta
0.69
0.68
0.69
R-Squared (%)
82.93
83.02
83.06
Standard Deviation (%)
2.39
2.03
1.88
Sharpe Ratio
0.15
0.30
0.80
Information Ratio
0.31
0.23
0.49
Up Capture (%)
70.07
68.54
71.28
Down Capture (%)
69.21
67.11
67.74
Portfolio

Portfolio

Top Holdings

(As of 31 Jul 2022)
Name
Ticker/Symbol
Sector
Weight %
United States Treasury Note/Bond
91282CAZ4
Government
1.6
United States Treasury Inflation Indexed Bonds
9128287D6
Government
1.5
United States Treasury Inflation Indexed Bonds
Government
1.0
United States Treasury Note/Bond
912828YM6
Government
1.0
United States Treasury Inflation Indexed Bonds
9128282L3
Government
0.9
United States Treasury Inflation Indexed Bonds
9128285W6
Government
0.7
New Residential Advance Receivables Trust Advance Receivables Backed 2020-T1
62942QCR2
Asset Backed Securities
0.7
United States Treasury Note/Bond
912828YS3
Government
0.7
Ocwen Master Advance Receivables Trust
67575NBW2
Asset Backed Securities
0.6
United States Treasury Note/Bond
912828P46
Government
0.6
Exposure Breakdown

Exposure Breakdown

(As of 31 Aug 2022)
Sector Allocation
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
Corporate
41.8
29.9
Asset Backed Securities
19.6
0.0
Collateralized Mortgage Obligation
15.3
Treasury-Domestic
12.8
62.4
Cash & Cash Equivalents
4.0
Mortgage Passthrough
2.9
Commercial Mortgage Backed Security
1.7
Bank Loan
0.8
Agency Debenture
0.5
3.6
Preferred Stock
0.3
Municipals
0.2
0.7
Treasury-Foreign
0.1
3.4
Sector Allocation
Fund (%)
Corporate
41.8
Asset Backed Securities
19.6
Collateralized Mortgage Obligation
15.3
Treasury-Domestic
12.8
Cash & Cash Equivalents
4.0
Mortgage Passthrough
2.9
Commercial Mortgage Backed Security
1.7
Bank Loan
0.8
Agency Debenture
0.5
Preferred Stock
0.3
Municipals
0.2
Treasury-Foreign
0.1
Credit Quality
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
U.S. Government
20.1
65.9
AAA
19.4
2.6
AA
5.1
2.7
A
22.3
14.4
BBB
27.8
14.3
Below Invest. Grade
0.6
0.0
Not Rated
0.7
Cash & Cash Equivalents
4.0
Credit Quality
Fund (%)
U.S. Government
20.1
AAA
19.4
AA
5.1
A
22.3
BBB
27.8
Below Invest. Grade
0.6
Not Rated
0.7
Cash & Cash Equivalents
4.0
Maturity
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Year 1
11.5
1.9
Year 2
13.6
20.5
Year 3
14.8
17.8
Year 4
15.3
13.5
Year 5
10.8
12.9
Year 6
6.7
9.5
Year 7
8.0
8.2
Year 8
5.5
5.5
Year 9
2.0
5.5
Year 10+
7.8
4.7
Cash
4.0
Maturity
Fund (%)
Year 1
11.5
Year 2
13.6
Year 3
14.8
Year 4
15.3
Year 5
10.8
Year 6
6.7
Year 7
8.0
Year 8
5.5
Year 9
2.0
Year 10+
7.8
Cash
4.0
Portfolio Managers

Portfolio Managers

Jason Brady, CFA
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,…
Learn More
Lon Erickson, CFA
Lon Erickson, CFA
Portfolio Manager and Managing Director
Lon Erickson is portfolio manager for Thornburg Investment Management. He joined Thornburg in 2008 and was made portfolio manager in 2010. Lon earned a BA in business administration with a minor in economics from Illinois Wesleyan University and an MBA from the University of Chicago Booth School of Business. He is a CFA charterholder. Prior to joining Thornburg Investment Management,…
Learn More
Jeff Klingelhofer, CFA
Jeff Klingelhofer, CFA
Co-Head of Investments and Managing Director
Jeff Klingelhofer is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Jeff is also a portfolio manager on multiple strategies. He joined the firm in 2010, then was promoted to associate portfolio manager in 2012. In 2015, Jeff was made portfolio manager and managing director. Jeff earned a BA…
Learn More

More Insights

Advising Clients

The Death of the 60/40 Portfolio? Think Again.

If investment print and internet article headlines give you anxiety, you've come to the right place. In this podcast, Jan shares ideas that may prevent your blood pressure from spiking the next time you read an alarming headline. Plus, the debut of the Ask Jan segment.
Global Equity

Navigating the Post-COVID Resurgence in Travel and Hospitality

As the storm that crushed the travel and lodging industries clears, we see post-Covid investment opportunities and pitfalls in the skies ahead.
Markets & Economy

Is the Fed Gambling with Markets & the Economy?

Jason Brady believes “We're not going to see anything near the Fed's 2% target inflation… forcing the Fed to continue to be very hawkish."
Feedback