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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.

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Thornburg Global Opportunities Fund (UCITS)

Fund Assets
$15.1 M
As of 31 Oct 2022
NAV
$27.03
As of 30 Nov 2022
Change
$0.66
As of 30 Nov 2022
YTD NAV Performance
-7.46%
As of 30 Nov 2022
Inception Date
11 Jan 2011
Portfolio Managers
Vice Chairman and Chief Investment Strategist
Portfolio Manager and Managing Director
Overview

Overview

Why Invest in This Fund?

  • A flexible, focused equity portfolio seeking investment opportunities from around the globe and across market capitalizations.
  • A proven fundamental research process to identify and select quality, undervalued businesses with a defined path to success and value creation.
  • The fund seeks to outperform global equity markets over a full market cycle.

Investment Objective

The fund’s goal is to provide investors with long-term capital appreciation by investing in equity and debt securities of all types from issuers around the world.

Investment Approach

The fund has the flexibility to seek investment opportunities from around the world and across market capitalization. It employs a fundamental, bottom-up investment process to identify companies that we believe have quality business models, trading at a discount to long-term intrinsic value, and have a defined path to success. The portfolio typically holds 30-40 securities and is diversified across countries and sectors.

Performance

Performance

Returns

(As of 30 Sep 2022)
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-21.60
-19.25
8.06
2.48
8.41
8.21
MSCI ACWI NTR (%)
-25.63
-20.66
3.75
4.44
7.28
7.01
Morningstar Category Avg. (%)
-19.86
-18.55
5.91
4.88
6.9
Morningstar Quartile
1
1
3
1
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-7.46
-3.15
10.95
5.96
10.19
9.77
MSCI ACWI NTR (%)
-15.02
-11.62
6.63
6.41
8.66
8.24
Morningstar Category Avg. (%)
-19.86
-18.55
5.91
4.88
6.9
Morningstar Quartile
1
1
3
1
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-21.60
-19.25
26.17
13.03
124.29
129.00
MSCI ACWI NTR (%)
-25.63
-20.66
11.67
24.27
101.95
103.75
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-7.46
-3.15
36.58
33.55
163.96
170.30
MSCI ACWI NTR (%)
-15.02
-11.62
21.23
36.46
129.36
132.80
2016
2017
2018
2019
2020
2021
Total Return (%)
5.34
18.80
-22.40
28.68
22.96
14.10
MSCI ACWI NTR (%)
7.86
23.97
-9.42
26.60
16.25
18.54
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 30 Nov 2022)
(Hypothetical Growth of $10,000 vs MSCI ACWI NTR)
Fund Facts

Fund Facts

(As of 31 Oct 2022)
Net Fund Assets
$15.1 M
Benchmark
MSCI ACWI NTR
Morningstar Category
EAA Fund Global Large-Cap Blend Equity
Fund Symbol
TBGOPPI ID
Share Class
I Acc
Share Class Inception Date
30 Mar 2012
Number of Holdings
42
Portfolio Turnover
56%
Distribution Frequency
N/a
Characteristics

Characteristics

Portfolio

(As of 31 Oct 2022)
Portfolio
Benchmark
Weighted Average Market Cap
$148.9 B
$314.4 B
Median Market Cap
$59.2 B
$9.8 B
Price to Earnings - Forward 1YR
9.3x
14.1x
Dividend Yield
2.8%
2.3%
Price to Earnings - Trailing 12 Months
10.8x
15.4x
Price to Cash Flow
6.5x
10.2x
Portfolio
Benchmark
Price to Book Value
1.5x
2.5x
Return on Assets - 5 YR
8.4%
10.0%
Return on Equity - 5 YR
15.5%
27.5%
Historical 3YR Sales Growth
11.0%
10.8%
Active Share
93.3%
Risk & Return Profile

Risk & Return Profile

(As of 31 Oct 2022)
3y
5y
10y
Annualized Alpha (%)
4.23
-1.24
1.35
Beta
0.96
0.97
0.99
R-Squared (%)
84.20
80.71
77.74
Standard Deviation (%)
21.07
18.46
15.95
Sharpe Ratio
0.39
0.12
0.52
Information Ratio
0.47
-0.22
0.14
Up Capture (%)
98.95
97.41
100.05
Down Capture (%)
95.33
99.21
98.65
Portfolio

Portfolio

Top Holdings

(As of 31 Oct 2022)
Name
Ticker/Symbol
Sector
Weight %
Reliance Industries Ltd.
RIGD
Energy
4.9
TotalEnergies SE
TTE
Energy
4.8
The TJX Cos, Inc.
TJX
Consumer Discretionary
4.7
OCI N.V.
OCI
Materials
4.5
Alphabet, Inc.
GOOGL
Communication Services
4.4
Bank of Ireland Group plc
BIRG
Financials
4.4
L3Harris Technologies, Inc.
LHX
Industrials
4.2
The Charles Schwab Corp.
SCHW
Financials
4.0
Mineral Resources Ltd.
MIN
Materials
3.9
NN Group N.V.
NN
Financials
3.8
Exposure Breakdown

Exposure Breakdown

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

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Financials
20.6
14.8
Consumer Discretionary
13.3
10.8
Materials
13.3
4.6
Information Technology
13.2
20.9
Energy
11.9
5.8
Communication Services
10.6
6.9
Industrials
7.3
9.8
Health Care
6.4
13.2
Consumer Staples
2.5
7.6
Cash & Cash Equivalents
0.9
Utilities
0.0
3.0
Real Estate
0.0
2.5
Sector Allocation
Fund (%)
Financials
20.6
Consumer Discretionary
13.3
Materials
13.3
Information Technology
13.2
Energy
11.9
Communication Services
10.6
Industrials
7.3
Health Care
6.4
Consumer Staples
2.5
Cash & Cash Equivalents
0.9
Utilities
0.0
Real Estate
0.0
Top 10 Industries
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
Materials
13.3
4.6
Energy
11.9
5.8
Banks
9.2
7.1
Diversified Financials
7.6
4.5
Media & Entertainment
7.5
5.0
Retailing
6.9
4.7
Semiconductors & Semiconductor Equipment
6.7
4.4
Pharmaceuticals, Biotechnology & Life Sciences
6.4
8.5
Capital Goods
6.1
6.6
Consumer Services
4.3
1.8
Top 10 Industries
Fund (%)
Materials
13.3
Energy
11.9
Banks
9.2
Diversified Financials
7.6
Media & Entertainment
7.5
Retailing
6.9
Semiconductors & Semiconductor Equipment
6.7
Pharmaceuticals, Biotechnology & Life Sciences
6.4
Capital Goods
6.1
Consumer Services
4.3
Top 10 Countries
Fund (%)
Benchmark (%)
Region

Portfolio

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
United States
41.2
62.7
North America
Netherlands
10.5
1.0
Europe ex UK
France
6.6
2.9
Europe ex UK
Germany
5.0
1.9
Europe ex UK
India
4.9
1.7
Asia Pacific ex Japan
United Kingdom
4.7
4.0
UK
Ireland
4.4
0.1
Europe ex UK
Australia
3.9
1.9
Asia Pacific ex Japan
Korea, Republic of (South Korea)
3.7
1.2
Asia Pacific ex Japan
China
3.0
2.7
Asia Pacific ex Japan
Top 10 Countries
Fund (%)
United States
41.2
Netherlands
10.5
France
6.6
Germany
5.0
India
4.9
United Kingdom
4.7
Ireland
4.4
Australia
3.9
Korea, Republic of (South Korea)
3.7
China
3.0
Capitalization
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Cap (> $12 B)
79.7
90.3
Mid Cap ($2.5 to $12 B)
19.4
9.4
Small Cap (< $2.5 B)
0.8
0.3
Capitalization
Fund (%)
Large Cap (> $12 B)
79.7
Mid Cap ($2.5 to $12 B)
19.4
Small Cap (< $2.5 B)
0.8
Portfolio Managers

Portfolio Managers

Brian McMahon
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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Miguel Oleaga
Miguel Oleaga
Portfolio Manager and Managing Director
Miguel Oleaga is portfolio manager for Thornburg Investment Management. He joined the firm in 2014 as an equity research analyst, was promoted to associate portfolio manager in 2017, and was named portfolio manager in 2018. Miguel holds a BS in business administration (finance and management specialties) from the University of Massachusetts. Prior to his joining Thornburg, Miguel worked at Putnam…
Learn More

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