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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.

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Thornburg New York Intermediate Municipal Fund

Morningstar Rating  • Info

Overall Morningstar Rating among 41 Muni New York 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 41, 40 and 33 funds, as of 31 Oct 2024.

As of 31 Oct 2024
Fund Assets
$25.0 M
As of 31 Oct 2024
NAV
$12.09
As of 9 Dec 2024
Change
$0.00
As of 9 Dec 2024
YTD NAV Performance
2.29%
As of 9 Dec 2024
Asset Category:
Municipal Bond
Fund Benchmark:
ICE BofA 3-15 Year U.S. Municipal Securities Index

Portfolio Managers

Portfolio Manager and Managing Director
Portfolio Manager and Managing Director
Portfolio Manager and Managing Director
Overview

Overview

Why Invest in This Fund?

 

  • Actively managed diversified portfolio of investment-grade municipal bonds issued by New York entities with an average maturity of three to 10 years and duration of four to six years.
  • Proven bottom-up fundamental approach that employs a relative value framework across sectors, issuers and revenue streams.
  • Tax-efficient fund seeks to provide New York investors with income that is tax-exempt at the state and federal level while minimizing changes in its share value.

Investment Objective

The fund’s goal is to provide investors with as high a level of current income exempt from federal and New York State individual income taxes 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 issued by the state of New York. The investment team aims to match municipal market structure and deal flow through a relative value framework that operates across geography, sectors, issuers and revenue streams. Operating as generalists, team members participate in all key aspects of investment management: credit research, trading, portfolio construction and risk oversight.

Performance

Performance

Returns

(As of 30 Sep 2024)
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
-0.26
5.01
-0.37
0.44
1.17
3.06
Total Return without Sales Charge (%)
1.79
7.18
0.30
0.84
1.38
3.14
ICE BofA 3-15 Year U.S. Municipal Securities Index (%)
2.12
8.81
0.32
1.41
2.32
4.22
Morningstar Category Avg. (%)
2.28
8.75
-0.03
0.91
1.75
Morningstar Quartile
4
1
3
4
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
-0.09
1.71
-0.38
0.45
1.15
3.05
Total Return without Sales Charge (%)
1.97
3.75
0.28
0.85
1.35
3.13
ICE BofA 3-15 Year U.S. Municipal Securities Index (%)
1.99
4.21
0.16
1.31
2.25
4.19
Morningstar Category Avg. (%)
0.96
8.46
-0.38
0.65
1.57
Morningstar Quartile
4
1
2
4
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
-0.26
5.01
-1.09
2.21
12.38
126.25
Total Return without Sales Charge (%)
1.79
7.18
0.90
4.26
14.67
130.96
ICE BofA 3-15 Year U.S. Municipal Securities Index (%)
2.12
8.81
0.95
7.25
25.75
206.05
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
-0.09
1.71
-1.14
2.25
12.09
126.65
Total Return without Sales Charge (%)
1.97
3.75
0.86
4.31
14.38
131.36
ICE BofA 3-15 Year U.S. Municipal Securities Index (%)
1.99
4.21
0.47
6.74
24.92
205.66
2018
2019
2020
2021
2022
2023
Total Return with Sales Charge (%)
-1.81
2.46
0.96
-1.71
-7.51
2.68
ICE BofA 3-15 Year U.S. Municipal Securities Index (%)
1.45
7.01
4.96
0.94
-6.64
5.41
Fund Fees

Fund Fees

(As of 1 Feb 2024)
Gross Expense Ratio (%)
1.33
Net Expense Ratio (%)
0.99
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 30 Nov 2024)
(Hypothetical Growth of $10,000 vs ICE BofA 3-15 Year U.S. Municipal Securities Index)
Distributions

Distributions

(As of 29 Nov 2024)
Ex-Date
Payable Date
Total ($)
Income ($)
ST Cap Gains ($)
LT Cap Gains ($)
31 Jan 1997
31 Jan 1997
0
28 Feb 1997
28 Feb 1997
0
31 Mar 1997
31 Mar 1997
0
30 Apr 1997
30 Apr 1997
0
31 May 1997
31 May 1997
0
30 Jun 1997
30 Jun 1997
0
31 Jul 1997
31 Jul 1997
0
31 Aug 1997
31 Aug 1997
0
30 Sep 1997
30 Sep 1997
0.04162
0.04162
31 Oct 1997
31 Oct 1997
0.05061
0.05061
28 Nov 1997
30 Nov 1997
0.05323
0.05323
31 Dec 1997
31 Dec 1997
0.05280
0.05280
30 Jan 1998
31 Jan 1998
0.05324
0.05324
27 Feb 1998
28 Feb 1998
0.05343
0.05343
31 Mar 1998
31 Mar 1998
0.05325
0.05325
30 Apr 1998
30 Apr 1998
0.05330
0.05330
29 May 1998
31 May 1998
0.05336
0.05336
30 Jun 1998
30 Jun 1998
0.05341
0.05341
31 Jul 1998
31 Jul 1998
0.05321
0.05321
31 Aug 1998
31 Aug 1998
0.05317
0.05317
30 Sep 1998
30 Sep 1998
0.05362
0.05362
30 Oct 1998
31 Oct 1998
0.05311
0.05311
30 Nov 1998
30 Nov 1998
0.05317
0.05317
31 Dec 1998
31 Dec 1998
0.05291
0.05291
29 Jan 1999
31 Jan 1999
0.05313
0.05313
26 Feb 1999
28 Feb 1999
0.05359
0.05359
31 Mar 1999
31 Mar 1999
0.05287
0.05287
30 Apr 1999
30 Apr 1999
0.05289
0.05289
28 May 1999
31 May 1999
0.05168
0.05168
30 Jun 1999
30 Jun 1999
0.05249
0.05249
30 Jul 1999
31 Jul 1999
0.05122
0.05122
31 Aug 1999
31 Aug 1999
0.05234
0.05234
30 Sep 1999
30 Sep 1999
0.05300
0.05300
29 Oct 1999
31 Oct 1999
0.05290
0.05290
30 Nov 1999
30 Nov 1999
0.05298
0.05298
31 Dec 1999
31 Dec 1999
0.05297
0.05297
31 Jan 2000
31 Jan 2000
0.05345
0.05345
29 Feb 2000
29 Feb 2000
0.05396
0.05396
31 Mar 2000
31 Mar 2000
0.05358
0.05358
28 Apr 2000
30 Apr 2000
0.05361
0.05361
31 May 2000
31 May 2000
0.05320
0.05320
30 Jun 2000
30 Jun 2000
0.05241
0.05241
31 Jul 2000
31 Jul 2000
0.05261
0.05261
31 Aug 2000
31 Aug 2000
0.05253
0.05253
29 Sep 2000
30 Sep 2000
0.05295
0.05295
31 Oct 2000
31 Oct 2000
0.05281
0.05281
30 Nov 2000
30 Nov 2000
0.05278
0.05278
29 Dec 2000
31 Dec 2000
0.05239
0.05239
31 Jan 2001
31 Jan 2001
0.05086
0.05086
28 Feb 2001
28 Feb 2001
0.05145
0.05145
30 Mar 2001
31 Mar 2001
0.04977
0.04977
30 Apr 2001
30 Apr 2001
0.05031
0.05031
31 May 2001
31 May 2001
0.04869
0.04869
29 Jun 2001
30 Jun 2001
0.04808
0.04808
31 Jul 2001
31 Jul 2001
0.04857
0.04857
31 Aug 2001
31 Aug 2001
0.04717
0.04717
28 Sep 2001
30 Sep 2001
0.04578
0.04578
31 Oct 2001
31 Oct 2001
0.04490
0.04490
30 Nov 2001
30 Nov 2001
0.04511
0.04511
31 Dec 2001
31 Dec 2001
0.04536
0.04536
31 Jan 2002
31 Jan 2002
0.04619
0.04619
28 Feb 2002
28 Feb 2002
0.04423
0.04423
28 Mar 2002
31 Mar 2002
0.04320
0.04320
30 Apr 2002
30 Apr 2002
0.04362
0.04362
31 May 2002
31 May 2002
0.04411
0.04411
28 Jun 2002
30 Jun 2002
0.04482
0.04482
31 Jul 2002
31 Jul 2002
0.04489
0.04489
30 Aug 2002
31 Aug 2002
0.04292
0.04292
30 Sep 2002
30 Sep 2002
0.04299
0.04299
31 Oct 2002
31 Oct 2002
0.04176
0.04176
29 Nov 2002
30 Nov 2002
0.04341
0.04341
31 Dec 2002
31 Dec 2002
0.04276
0.04276
31 Jan 2003
31 Jan 2003
0.04377
0.04377
28 Feb 2003
28 Feb 2003
0.04437
0.04437
31 Mar 2003
31 Mar 2003
0.04133
0.04133
30 Apr 2003
30 Apr 2003
0.04193
0.04193
30 May 2003
31 May 2003
0.04270
0.04270
30 Jun 2003
30 Jun 2003
0.04190
0.04190
31 Jul 2003
31 Jul 2003
0.03828
0.03828
29 Aug 2003
31 Aug 2003
0.03919
0.03919
30 Sep 2003
30 Sep 2003
0.03836
0.03836
31 Oct 2003
31 Oct 2003
0.03648
0.03648
28 Nov 2003
30 Nov 2003
0.03766
0.03766
31 Dec 2003
31 Dec 2003
0.03700
0.03700
30 Jan 2004
31 Jan 2004
0.03713
0.03713
27 Feb 2004
29 Feb 2004
0.03791
0.03791
31 Mar 2004
31 Mar 2004
0.03552
0.03552
30 Apr 2004
30 Apr 2004
0.03595
0.03595
28 May 2004
31 May 2004
0.03569
0.03569
30 Jun 2004
30 Jun 2004
0.03628
0.03628
30 Jul 2004
31 Jul 2004
0.03470
0.03470
31 Aug 2004
31 Aug 2004
0.03331
0.03331
30 Sep 2004
30 Sep 2004
0.03334
0.03334
29 Oct 2004
31 Oct 2004
0.03220
0.03220
30 Nov 2004
30 Nov 2004
0.03256
0.03256
31 Dec 2004
31 Dec 2004
0.03280
0.03280
31 Jan 2005
31 Jan 2005
0.03380
0.03380
28 Feb 2005
28 Feb 2005
0.03487
0.03487
31 Mar 2005
31 Mar 2005
0.03344
0.03344
29 Apr 2005
30 Apr 2005
0.03584
0.03584
31 May 2005
31 May 2005
0.03573
0.03573
30 Jun 2005
30 Jun 2005
0.03603
0.03603
29 Jul 2005
31 Jul 2005
0.03584
0.03584
31 Aug 2005
31 Aug 2005
0.03595
0.03595
30 Sep 2005
30 Sep 2005
0.03612
0.03612
31 Oct 2005
31 Oct 2005
0.03588
0.03588
30 Nov 2005
30 Nov 2005
0.03695
0.03695
30 Dec 2005
31 Dec 2005
0.03715
0.03715
31 Jan 2006
31 Jan 2006
0.03742
0.03742
28 Feb 2006
28 Feb 2006
0.03634
0.03634
31 Mar 2006
31 Mar 2006
0.03747
0.03747
28 Apr 2006
30 Apr 2006
0.03798
0.03798
31 May 2006
31 May 2006
0.03761
0.03761
30 Jun 2006
30 Jun 2006
0.03847
0.03847
31 Jul 2006
31 Jul 2006
0.03858
0.03858
31 Aug 2006
31 Aug 2006
0.03889
0.03889
29 Sep 2006
30 Sep 2006
0.03912
0.03912
31 Oct 2006
31 Oct 2006
0.03845
0.03845
30 Nov 2006
30 Nov 2006
0.03841
0.03841
29 Dec 2006
31 Dec 2006
0.03813
0.03813
31 Jan 2007
31 Jan 2007
0.03813
0.03813
28 Feb 2007
28 Feb 2007
0.03919
0.03919
30 Mar 2007
31 Mar 2007
0.03809
0.03809
30 Apr 2007
30 Apr 2007
0.03834
0.03834
31 May 2007
31 May 2007
0.03810
0.03810
29 Jun 2007
30 Jun 2007
0.03833
0.03833
31 Jul 2007
31 Jul 2007
0.03806
0.03806
31 Aug 2007
31 Aug 2007
0.03800
0.03800
28 Sep 2007
30 Sep 2007
0.03804
0.03804
31 Oct 2007
31 Oct 2007
0.03729
0.03729
30 Nov 2007
30 Nov 2007
0.03781
0.03781
31 Dec 2007
31 Dec 2007
0.03768
0.03768
31 Jan 2008
31 Jan 2008
0.03603
0.03603
29 Feb 2008
29 Feb 2008
0.03614
0.03614
31 Mar 2008
31 Mar 2008
0.03651
0.03651
30 Apr 2008
30 Apr 2008
0.03763
0.03763
30 May 2008
31 May 2008
0.03699
0.03699
30 Jun 2008
30 Jun 2008
0.03678
0.03678
31 Jul 2008
31 Jul 2008
0.03672
0.03672
29 Aug 2008
31 Aug 2008
0.03666
0.03666
30 Sep 2008
30 Sep 2008
0.03799
0.03799
31 Oct 2008
31 Oct 2008
0.03787
0.03787
28 Nov 2008
30 Nov 2008
0.03747
0.03747
31 Dec 2008
31 Dec 2008
0.03850
0.03850
30 Jan 2009
31 Jan 2009
0.03738
0.03738
27 Feb 2009
28 Feb 2009
0.03827
0.03827
31 Mar 2009
31 Mar 2009
0.03606
0.03606
30 Apr 2009
30 Apr 2009
0.03651
0.03651
29 May 2009
31 May 2009
0.03653
0.03653
30 Jun 2009
30 Jun 2009
0.03840
0.03840
31 Jul 2009
31 Jul 2009
0.03820
0.03820
31 Aug 2009
31 Aug 2009
0.03701
0.03701
30 Sep 2009
30 Sep 2009
0.03741
0.03741
30 Oct 2009
31 Oct 2009
0.03735
0.03735
30 Nov 2009
30 Nov 2009
0.03862
0.03862
31 Dec 2009
31 Dec 2009
0.03784
0.03784
29 Jan 2010
31 Jan 2010
0.03601
0.03601
26 Feb 2010
28 Feb 2010
0.03728
0.03728
31 Mar 2010
31 Mar 2010
0.03596
0.03596
30 Apr 2010
30 Apr 2010
0.03587
0.03587
28 May 2010
31 May 2010
0.03387
0.03387
30 Jun 2010
30 Jun 2010
0.03304
0.03304
30 Jul 2010
31 Jul 2010
0.03344
0.03344
31 Aug 2010
31 Aug 2010
0.03361
0.03361
30 Sep 2010
30 Sep 2010
0.03421
0.03421
29 Oct 2010
31 Oct 2010
0.03345
0.03345
30 Nov 2010
30 Nov 2010
0.03447
0.03447
31 Dec 2010
31 Dec 2010
0.03364
0.03364
31 Jan 2011
31 Jan 2011
0.03357
0.03357
28 Feb 2011
28 Feb 2011
0.03629
0.03629
31 Mar 2011
31 Mar 2011
0.03490
0.03490
29 Apr 2011
30 Apr 2011
0.03605
0.03605
31 May 2011
31 May 2011
0.03457
0.03457
30 Jun 2011
30 Jun 2011
0.03397
0.03397
29 Jul 2011
31 Jul 2011
0.03206
0.03206
31 Aug 2011
31 Aug 2011
0.03327
0.03327
30 Sep 2011
30 Sep 2011
0.03403
0.03403
31 Oct 2011
31 Oct 2011
0.03333
0.03333
30 Nov 2011
30 Nov 2011
0.03224
0.03224
30 Dec 2011
31 Dec 2011
0.03312
0.03312
31 Jan 2012
31 Jan 2012
0.03305
0.03305
29 Feb 2012
29 Feb 2012
0.03289
0.03289
30 Mar 2012
31 Mar 2012
0.03069
0.03069
30 Apr 2012
30 Apr 2012
0.03017
0.03017
31 May 2012
31 May 2012
0.02945
0.02945
29 Jun 2012
30 Jun 2012
0.02983
0.02983
31 Jul 2012
31 Jul 2012
0.02808
0.02808
31 Aug 2012
31 Aug 2012
0.02832
0.02832
28 Sep 2012
30 Sep 2012
0.02977
0.02977
31 Oct 2012
31 Oct 2012
0.02938
0.02938
30 Nov 2012
30 Nov 2012
0.02915
0.02915
31 Dec 2012
31 Dec 2012
0.02830
0.02830
31 Jan 2013
31 Jan 2013
0.02798
0.02798
28 Feb 2013
28 Feb 2013
0.02949
0.02949
28 Mar 2013
31 Mar 2013
0.02795
0.02795
30 Apr 2013
30 Apr 2013
0.02875
0.02875
31 May 2013
31 May 2013
0.02785
0.02785
28 Jun 2013
30 Jun 2013
0.02847
0.02847
31 Jul 2013
31 Jul 2013
0.02668
0.02668
30 Aug 2013
31 Aug 2013
0.02606
0.02606
30 Sep 2013
30 Sep 2013
0.02681
0.02681
31 Oct 2013
31 Oct 2013
0.02556
0.02556
29 Nov 2013
30 Nov 2013
0.02683
0.02683
31 Dec 2013
31 Dec 2013
0.02629
0.02629
31 Jan 2014
31 Jan 2014
0.02410
0.02410
28 Feb 2014
28 Feb 2014
0.02611
0.02611
31 Mar 2014
31 Mar 2014
0.02389
0.02389
30 Apr 2014
30 Apr 2014
0.02455
0.02455
30 May 2014
31 May 2014
0.02396
0.02396
30 Jun 2014
30 Jun 2014
0.02432
0.02432
31 Jul 2014
31 Jul 2014
0.02356
0.02356
29 Aug 2014
31 Aug 2014
0.02332
0.02332
30 Sep 2014
30 Sep 2014
0.02373
0.02373
31 Oct 2014
31 Oct 2014
0.02312
0.02312
28 Nov 2014
30 Nov 2014
0.02434
0.02434
31 Dec 2014
31 Dec 2014
0.02379
0.02379
30 Jan 2015
31 Jan 2015
0.02399
0.02399
27 Feb 2015
28 Feb 2015
0.02570
0.02570
31 Mar 2015
31 Mar 2015
0.02342
0.02342
30 Apr 2015
30 Apr 2015
0.02367
0.02367
29 May 2015
31 May 2015
0.02266
0.02266
30 Jun 2015
30 Jun 2015
0.02524
0.02524
31 Jul 2015
31 Jul 2015
0.02247
0.02247
31 Aug 2015
31 Aug 2015
0.02265
0.02265
30 Sep 2015
30 Sep 2015
0.02406
0.02406
30 Oct 2015
31 Oct 2015
0.02385
0.02385
30 Nov 2015
30 Nov 2015
0.02427
0.02427
31 Dec 2015
31 Dec 2015
0.02273
0.02273
29 Jan 2016
31 Jan 2016
0.02285
0.02285
29 Feb 2016
29 Feb 2016
0.02418
0.02418
31 Mar 2016
31 Mar 2016
0.02344
0.02344
29 Apr 2016
30 Apr 2016
0.02443
0.02443
31 May 2016
31 May 2016
0.02402
0.02402
30 Jun 2016
30 Jun 2016
0.02465
0.02465
29 Jul 2016
31 Jul 2016
0.02387
0.02387
31 Aug 2016
31 Aug 2016
0.02407
0.02407
30 Sep 2016
30 Sep 2016
0.02980
0.02980
31 Oct 2016
31 Oct 2016
0.02480
0.02480
30 Nov 2016
30 Nov 2016
0.02562
0.02562
30 Dec 2016
31 Dec 2016
0.02638
0.02638
31 Jan 2017
31 Jan 2017
0.02735
0.02735
28 Feb 2017
28 Feb 2017
0.02935
0.02935
31 Mar 2017
31 Mar 2017
0.02775
0.02775
28 Apr 2017
30 Apr 2017
0.02827
0.02827
31 May 2017
31 May 2017
0.02741
0.02741
30 Jun 2017
30 Jun 2017
0.02773
0.02773
31 Jul 2017
31 Jul 2017
0.02805
0.02805
31 Aug 2017
31 Aug 2017
0.02731
0.02731
29 Sep 2017
30 Sep 2017
0.02661
0.02661
31 Oct 2017
31 Oct 2017
0.02463
0.02463
30 Nov 2017
30 Nov 2017
0.02378
0.02378
29 Dec 2017
31 Dec 2017
0.02369
0.02369
31 Jan 2018
31 Jan 2018
0.02433
0.02433
28 Feb 2018
28 Feb 2018
0.02653
0.02653
29 Mar 2018
31 Mar 2018
0.02504
0.02504
30 Apr 2018
30 Apr 2018
0.02606
0.02606
31 May 2018
31 May 2018
0.02478
0.02478
29 Jun 2018
30 Jun 2018
0.02606
0.02606
31 Jul 2018
31 Jul 2018
0.02518
0.02518
31 Aug 2018
31 Aug 2018
0.02592
0.02592
28 Sep 2018
30 Sep 2018
0.02651
0.02651
31 Oct 2018
31 Oct 2018
0.02615
0.02615
30 Nov 2018
30 Nov 2018
0.02628
0.02628
31 Dec 2018
31 Dec 2018
0.02575
0.02575
31 Jan 2019
31 Jan 2019
0.02632
0.02632
28 Feb 2019
28 Feb 2019
0.02727
0.02727
29 Mar 2019
31 Mar 2019
0.02528
0.02528
30 Apr 2019
30 Apr 2019
0.02597
0.02597
31 May 2019
31 May 2019
0.02439
0.02439
28 Jun 2019
30 Jun 2019
0.02539
0.02539
31 Jul 2019
31 Jul 2019
0.02308
0.02308
31 Aug 2019
31 Aug 2019
0.02347
0.02347
30 Sep 2019
30 Sep 2019
0.02404
0.02404
31 Oct 2019
31 Oct 2019
0.02268
0.02268
30 Nov 2019
30 Nov 2019
0.02327
0.02327
31 Dec 2019
31 Dec 2019
0.02164
0.02164
31 Jan 2020
31 Jan 2020
0.02108
0.02108
29 Feb 2020
29 Feb 2020
0.02217
0.02217
31 Mar 2020
31 Mar 2020
0.02180
0.02180
30 Apr 2020
30 Apr 2020
0.02189
0.02189
31 May 2020
31 May 2020
0.02117
0.02117
30 Jun 2020
30 Jun 2020
0.02148
0.02148
31 Jul 2020
31 Jul 2020
0.02054
0.02054
31 Aug 2020
31 Aug 2020
0.02028
0.02028
30 Sep 2020
30 Sep 2020
0.02122
0.02122
30 Oct 2020
31 Oct 2020
0.01984
0.01984
30 Nov 2020
30 Nov 2020
0.02069
0.02069
31 Dec 2020
31 Dec 2020
0.02043
0.02043
29 Jan 2021
31 Jan 2021
0.02012
0.02012
26 Feb 2021
28 Feb 2021
0.02196
0.02196
31 Mar 2021
31 Mar 2021
0.01990
0.01990
30 Apr 2021
30 Apr 2021
0.02066
0.02066
28 May 2021
31 May 2021
0.01748
0.01748
30 Jun 2021
30 Jun 2021
0.01913
0.01913
30 Jul 2021
31 Jul 2021
0.01760
0.01760
31 Aug 2021
31 Aug 2021
0.01810
0.01810
30 Sep 2021
30 Sep 2021
0.01922
0.01922
29 Oct 2021
31 Oct 2021
0.01863
0.01863
30 Nov 2021
30 Nov 2021
0.01975
0.01975
31 Dec 2021
31 Dec 2021
0.01861
0.01861
31 Jan 2022
31 Jan 2022
0.01890
0.01890
28 Feb 2022
28 Feb 2022
0.02146
0.02146
31 Mar 2022
31 Mar 2022
0.01977
0.01977
29 Apr 2022
30 Apr 2022
0.02133
0.02133
31 May 2022
31 May 2022
0.02121
0.02121
30 Jun 2022
30 Jun 2022
0.02252
0.02252
29 Jul 2022
31 Jul 2022
0.02039
0.02039
31 Aug 2022
31 Aug 2022
0.02136
0.02136
30 Sep 2022
30 Sep 2022
0.02229
0.02229
31 Oct 2022
31 Oct 2022
0.02137
0.02137
30 Nov 2022
30 Nov 2022
0.02228
0.02228
30 Dec 2022
31 Dec 2022
0.02195
0.02195
31 Jan 2023
31 Jan 2023
0.02137
0.02137
28 Feb 2023
28 Feb 2023
0.02388
0.02388
31 Mar 2023
31 Mar 2023
0.02211
0.02211
28 Apr 2023
30 Apr 2023
0.02233
0.02233
31 May 2023
31 May 2023
0.02221
0.02221
30 Jun 2023
30 Jun 2023
0.02362
0.02362
31 Jul 2023
31 Jul 2023
0.02366
0.02366
31 Aug 2023
31 Aug 2023
0.02572
0.02572
29 Sep 2023
30 Sep 2023
0.02687
0.02687
31 Oct 2023
31 Oct 2023
0.02666
0.02666
30 Nov 2023
30 Nov 2023
0.02766
0.02766
29 Dec 2023
31 Dec 2023
0.02879
0.02879
31 Jan 2024
31 Jan 2024
0.02502
0.02502
29 Feb 2024
29 Feb 2024
0.02841
0.02841
28 Mar 2024
31 Mar 2024
0.02690
0.02690
30 Apr 2024
30 Apr 2024
0.02802
0.02802
31 May 2024
31 May 2024
0.02820
0.02820
28 Jun 2024
30 Jun 2024
0.02868
0.02868
31 Jul 2024
31 Jul 2024
0.02906
0.02906
30 Aug 2024
31 Aug 2024
0.02955
0.02955
30 Sep 2024
30 Sep 2024
0.02953
0.02953
31 Oct 2024
31 Oct 2024
0.03063
0.03063
29 Nov 2024
30 Nov 2024
0.02997
0.02997
Fund Facts

Fund Facts

(As of 31 Oct 2024)
Net Fund Assets
$25.0 M
Benchmark
ICE BofA 3-15 Year U.S. Municipal Securities Index
Morningstar Category
Muni New York Intermediate
Fund Symbol
THNYX
Share Class
A
Share Class Inception Date
5 Sep 1997
Number of Holdings
55
Portfolio Turnover
20%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized)
2.86%
30-Day SEC Yield (Unsubsidized)
2.48%
Annualized Distribution Yield
2.92%
Characteristics

Characteristics

Portfolio

(As of 31 Oct 2024)
Portfolio
Benchmark
Effective Duration
4.9 Yrs
5.1 Yrs
Average Effective Maturity
9.6 Yrs
8.1 Yrs
Weighted Average Coupon
4.8%
4.5%
Portfolio
Benchmark
Yield to Worst
3.7%
3.3%
Subject to Alternative Minimum Tax
10.6%
Risk & Return Profile

Risk & Return Profile

(As of 31 Oct 2024)
3y
5y
10y
Annualized Alpha (%)
0.40
0.13
-0.04
Standard Deviation (%)
4.50
4.22
3.41
Sharpe Ratio
-0.76
-0.35
-0.04
Up Capture (%)
70.66
76.09
75.30
Down Capture (%)
65.86
74.25
76.15
Portfolio

Portfolio

Top Holdings

(As of 31 Oct 2024)
Name
Ticker/Symbol
Weight %
New York City Transitional Finance Authority Future Tax Secured Revenue
64971XRX8
4.3
New York City Transitional Finance Authority Future Tax Secured Revenue
64971XFT0
4.2
Hudson Yards Infrastructure Corp
44420RAX8
4.2
Metropolitan Transportation Authority
59259Y6P9
4.1
Triborough Bridge & Tunnel Authority
89602NX58
4.0
City of New York NY
64966LEC1
4.0
Nassau County Sewer & Storm Water Finance Authority
63166QCF5
4.0
City of New York NY
64966Q6J4
3.5
Long Island Power Authority
542690UY6
2.8
Troy Capital Resource Corp
897579BR8
2.8
Exposure Breakdown

Exposure Breakdown

(As of 31 Oct 2024)
Sector Allocation
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
Dedicated Tax
16.1
14.7
Local General Obligation
13.2
9.3
Water/Sewer
10.2
5.3
Higher Education
8.6
Other Transportation
6.7
5.7
Multi Family Mortgage
6.7
2.0
Toll Road
5.1
5.1
Industrial Development/Pollution Control
4.2
Special Tax
4.2
Cash & Cash Equivalents
4.1
Public Power
3.1
6.6
Sector Allocation
Fund (%)
Dedicated Tax
16.1
Local General Obligation
13.2
Water/Sewer
10.2
Higher Education
8.6
Other Transportation
6.7
Multi Family Mortgage
6.7
Toll Road
5.1
Industrial Development/Pollution Control
4.2
Special Tax
4.2
Cash & Cash Equivalents
4.1
Public Power
3.1
Credit Quality
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
AAA
17.7
13.5
AA
52.0
56.4
A
17.7
24.5
BBB
6.1
5.6
Not Rated
2.4
Cash & Cash Equivalents
4.1
Credit Quality
Fund (%)
AAA
17.7
AA
52.0
A
17.7
BBB
6.1
Not Rated
2.4
Cash & Cash Equivalents
4.1
Maturity
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Year 1-2
20.1
Year 3-4
6.1
12.0
Year 5-6
4.1
21.5
Year 7-8
10.6
19.7
Year 9-10
7.5
15.9
Year 11-12
5.0
14.0
Year 13-14
8.7
12.0
Year 15-16
8.2
5.0
Year 17+
25.7
Cash
4.1
Maturity
Fund (%)
Year 1-2
20.1
Year 3-4
6.1
Year 5-6
4.1
Year 7-8
10.6
Year 9-10
7.5
Year 11-12
5.0
Year 13-14
8.7
Year 15-16
8.2
Year 17+
25.7
Cash
4.1
Portfolio Managers

Portfolio Managers

David Ashley, CFA

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

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

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

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