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TBIIBUI ID

Thornburg Equity Income Builder Fund (UCITS)

Morningstar Rating  • Info

Overall Morningstar Rating among 1185 EAA Fund Global Equity Income funds, based on risk-adjusted returns for class I Acc shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 5 stars, 5 stars and 5 stars among 1185, 970 and 609 funds, as of 30 Jun 2026.

As of 30 Jun 2026
Fund Assets
$640.5 M
As of 30 Jun 2026
NAV
$43.74
As of 23 Jul 2026
Change
$-0.18
As of 23 Jul 2026
YTD NAV Performance
17.93%
As of 23 Jul 2026
Asset Category:
Global Equity
Fund Benchmark:
MSCI World Index

FE fundinfo Crown Fund Ratings do not constitute investment advice offered by FE fundinfo and should not be used as the sole basis for making any investment decision. All rights reserved.

Portfolio Managers

Head of Equities, Portfolio Manager and Managing Director
Vice Chairman, Chief Investment Strategist, Portfolio Manager and Managing Director

A Disciplined Approach to Global Equity Income

In this Q&A, Matt Burdett discusses how the Thornburg Equity Income Builder Fund is positioned to deliver resilient income and diversification through disciplined global stock selection.

Click here to learn more. 

Overview

Overview

Why Invest in This Fund?

  • Global portfolio of dividend-paying companies – Seeks to provide an attractive and growing income stream by investing in high-quality companies worldwide with strong dividend potential.
  • Proven bottom-up research process – Focuses on companies with strong cash flows and financial stability that have both the ability and willingness to pay and grow their dividends over time.
  • Highly active and flexible approach – Unconstrained by benchmarks, allowing the strategy to seek the best income opportunities across global equity markets.

Investment Objective

The fund’s investment objective  is to provide long-term income growth and capital appreciation.

Investment Approach

The fund is a globally focused, actively managed portfolio that invests in dividend-paying companies with strong cash flows and a commitment to growing their dividends over time. Using a disciplined, bottom-up research process, we identify companies with both the ability and willingness to pay and grow their dividends while maintaining financial stability. Investors should expect a strategy that prioritizes current income while offering the potential for dividend growth and long-term capital appreciation.

Fund Facts

Fund Facts

(As of 30 Jun 2026)
Net Fund Assets
$640.5 M
Benchmark
MSCI World Index
Morningstar Category
EAA Fund Global Equity Income
Distribution Frequency
N/A
SFDR
Article 8
Minimum Investment
$1,000,000
Ongoing Charges
0.80%
Management Fee
0.65%
Share Class
I Acc
Share Class Inception Date
29 Jun 2012
Fund Inception Date
28 Jun 2012
Bloomberg Ticker
TBIIBUI ID
ISIN
IE00B6YCBF59
Cusip
G8T49N 214
SEDOL
B6YCBF5
Performance

Performance

Returns

(As of 30 Jun 2026)
YTD
1y
3y
5y
10y
Inception
Total Return (%)
15.83
32.35
24.37
16.44
12.81
10.97
MSCI World Index (%)
9.69
21.34
19.24
11.47
13.14
12.16
MSCI World High Dividend Yield Index (%)
8.85
18.09
13.60
8.72
8.72
8.76
Morningstar Category Avg. (%)
8.18
16.55
14.45
8.56
9.29
Morningstar Quartile
1
1
1
1
Morningstar Quartile # of Funds
1433
1185
970
609
YTD
1y
3y
5y
10y
Inception
Total Return (%)
15.83
32.35
24.37
16.44
12.81
10.97
MSCI World Index (%)
9.69
21.34
19.24
11.47
13.14
12.16
MSCI World High Dividend Yield Index (%)
8.85
18.09
13.60
8.72
8.72
8.76
Morningstar Category Avg. (%)
8.18
16.55
14.45
8.56
9.29
Morningstar Quartile
1
1
1
1
Morningstar Quartile # of Funds
1433
1185
970
609
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Total Return (%)
14.21
6.26
-4.36
9.92
14.99
-4.81
18.42
2.30
17.62
-6.02
19.41
12.60
36.96
MSCI World Index (%)
26.68
4.94
-0.87
7.51
22.40
-8.71
27.67
15.90
21.82
-18.14
23.79
18.67
21.09
MSCI World High Dividend Yield Index (%)
21.91
2.48
-3.20
9.29
18.14
-7.56
23.15
-0.03
15.83
-4.74
9.12
7.95
18.64
YTD
1y
3y
5y
10y
Inception
Total Return (%)
15.83
32.35
92.39
114.05
233.80
329.60
MSCI World Index (%)
9.69
21.34
69.55
72.12
243.63
398.44
MSCI World High Dividend Yield Index (%)
8.85
18.09
46.60
51.89
130.81
224.02
YTD
1y
3y
5y
10y
Inception
Total Return (%)
15.83
32.35
92.39
114.05
233.80
329.60
MSCI World Index (%)
9.69
21.34
69.55
72.12
243.63
398.44
MSCI World High Dividend Yield Index (%)
8.85
18.09
46.60
51.89
130.81
224.02
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 30 Jun 2026)
(Hypothetical Growth of $10,000 vs MSCI World Index)
Characteristics

Characteristics

Portfolio

(As of 30 Jun 2026)
Portfolio
Benchmark
Number of Holdings
64
Weighted Average Market Cap
$279.8 B
$1,043.7 B
Median Market Cap
$56.1 B
$28.8 B
Annual Portfolio Turnover
22%
Price to Earnings - Forward 1YR
13.0x
19.7x
Portfolio
Benchmark
Dividend Yield
3.9%
1.5%
Price to Earnings - Trailing 12 Months
15.8x
25.8x
Price to Cash Flow
6.9x
16.0x
Price to Book Value
2.1x
4.1x
Active Share
91.9%
Risk & Return Profile

Risk & Return Profile

(As of 30 Jun 2026)
3y
5y
10y
Annualized Alpha (%)
13.12
8.42
2.47
Beta
0.56
0.67
0.79
R-Squared (%)
48.62
67.22
74.60
Standard Deviation (%)
9.82
12.32
13.53
Sharpe Ratio
2.01
1.05
0.77
Information Ratio
0.60
0.59
-0.04
Tracking Error (%)
8.90
8.63
7.51
Up Capture (%)
91.63
88.84
83.66
Down Capture (%)
35.08
56.10
72.44
Portfolio

Portfolio

Top Holdings

(As of 31 May 2026)
Name
Ticker/Symbol
Sector
Weight %
Orange S.A.
ORA
Communication Services
4.7
BNP Paribas S.A.
BNP
Financials
3.7
NN Group N.V.
NN
Financials
3.0
AT&T, Inc.
T
Communication Services
2.9
Samsung Electronics Co. Ltd.
005930
Information Technology
2.8
Broadcom, Inc.
AVGO
Information Technology
2.7
Kimberly-Clark Corp.
KMB
Consumer Staples
2.5
Taiwan Semiconductor Manufacturing Co. Ltd.
TSM
Information Technology
2.5
Cisco Systems, Inc.
CSCO
Information Technology
2.4
Merck & Co., Inc.
MRK
Health Care
2.4
Exposure Breakdown

Exposure Breakdown

(As of 30 Jun 2026)
Sector Allocation
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
Financials
21.7
15.9
Communication Services
15.6
8.1
Information Technology
11.0
30.3
Cash & Equivalents
9.9
Health Care
9.3
9.1
Utilities
7.2
2.6
Consumer Staples
7.0
5.0
Industrials
6.3
11.6
Energy
5.6
3.6
Consumer Discretionary
4.8
8.9
Materials
1.8
3.3
Real Estate
0.0
1.7
Unassigned
-0.1
0.1
Sector Allocation
Fund (%)
Financials
21.7
Communication Services
15.6
Information Technology
11.0
Cash & Equivalents
9.9
Health Care
9.3
Utilities
7.2
Consumer Staples
7.0
Industrials
6.3
Energy
5.6
Consumer Discretionary
4.8
Materials
1.8
Real Estate
0.0
Unassigned
-0.1
Top 10 Industries
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
Telecommunication Services
15.6
1.4
Banks
9.4
7.2
Insurance
7.8
2.8
Pharmaceuticals, Biotechnology & Life Sciences
7.6
6.5
Utilities
7.2
2.6
Semiconductors & Semiconductor Equipment
6.4
15.5
Energy
5.6
3.6
Household & Personal Products
5.3
1.0
Capital Goods
4.7
9.2
Technology Hardware & Equipment
4.6
8.1
Top 10 Industries
Fund (%)
Telecommunication Services
15.6
Banks
9.4
Insurance
7.8
Pharmaceuticals, Biotechnology & Life Sciences
7.6
Utilities
7.2
Semiconductors & Semiconductor Equipment
6.4
Energy
5.6
Household & Personal Products
5.3
Capital Goods
4.7
Technology Hardware & Equipment
4.6
Top 10 Countries
Fund (%)
Benchmark (%)
Region

Portfolio

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
United States
25.8
72.4
North America
France
13.5
2.4
Europe ex UK
United Kingdom
8.9
3.5
UK
Netherlands
7.5
1.6
Europe ex UK
Germany
7.0
2.1
Europe ex UK
Italy
4.8
0.8
Europe ex UK
Taiwan
3.3
Asia Pacific ex Japan
Switzerland
3.2
2.3
Europe ex UK
Spain
3.1
1.0
Europe ex UK
Canada
2.7
3.3
North America
Top 10 Countries
Fund (%)
United States
25.8
France
13.5
United Kingdom
8.9
Netherlands
7.5
Germany
7.0
Italy
4.8
Taiwan
3.3
Switzerland
3.2
Spain
3.1
Canada
2.7
Capitalization
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Cap (> $12 B)
96.3
98.6
Mid Cap ($2.5 to $12 B)
2.8
1.4
Small Cap (< $2.5 B)
0.8
0.0
Unassigned
0.0
Capitalization
Fund (%)
Large Cap (> $12 B)
96.3
Mid Cap ($2.5 to $12 B)
2.8
Small Cap (< $2.5 B)
0.8
Unassigned
0.0
Portfolio Managers

Portfolio Managers

Matt Burdett

Head of Equities, Portfolio Manager and Managing Director
Matt Burdett is head of equities and a portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager. Matt was named a managing director and was promoted to portfolio manager in 2018 and to head of equities in 2024. Matt spent several years as a senior vice president and portfolio manager at PIMCO,…
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Brian McMahon

Vice Chairman, Chief Investment Strategist, Portfolio Manager and Managing Director
Brian McMahon is chief investment strategist and a portfolio manager 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;…
Learn More

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