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Thornburg Investment Income Builder Fund (UCITS)

Fund Assets
$24.2 M
As of 31 Jul 2022
NAV
$19.77
As of 11 Aug 2022
Change
$0.02
As of 11 Aug 2022
YTD NAV Performance
-7.75%
As of 11 Aug 2022
Inception Date
28 Jun 2012
Portfolio Managers
President and CEO
Portfolio Manager and Managing Director
Co-Head of Investments and Managing Director
Vice Chairman and Chief Investment Strategist
Overview

Overview

Why Invest in This Fund?

  • Global, diversified multi-asset portfolio of income-producing stocks and bonds that seeks to deliver an attractive and growing income stream.
  • Proven bottom-up fundamental research process to identify dividend-paying companies with strong cash flows that have both the ability and willingness to pay and grow their dividends over time.
  • Highly active, flexible approach that allows us to go anywhere in the world to seek income.

Investment Objective

The fund’s goal is to provide investors with a level of current income which exceeds the average yield on U.S. stocks generally, and which will grow, subject to periodic fluctuations, over the years on a per share basis.

Investment Approach

The strategy is a multi-asset portfolio of global dividend-paying stocks selected via a bottom-up, fundamentals and valuation-sensitive process. The strategy seeks to generate an attractive and growing income stream, with capital appreciation over time by building a portfolio of companies that have the ability and willingness to generate cash flow and distribute dividends to its shareholders.

Performance

Performance

Returns

(As of 30 Jun 2022)
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-11.43
-5.43
4.69
5.22
6.62
6.62
Investment Income Builder Blend (%)
-17.98
-13.18
5.26
6.19
7.65
7.65
Morningstar Category Avg. (%)
-15.8
-13.43
2.68
3.15
4.74
Morningstar Quartile
1
1
1
1
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-9.47
-3.10
5.76
5.29
6.52
6.79
Investment Income Builder Blend (%)
-12.60
-8.96
7.36
7.14
8.19
8.26
Morningstar Category Avg. (%)
-11.98
-9.83
3.9
3.7
5.06
Morningstar Quartile
1
1
1
1
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-11.43
-5.43
14.75
28.94
89.80
89.80
Investment Income Builder Blend (%)
-17.98
-13.18
16.62
35.02
108.95
108.95
YTD
1y
3y
5y
10y
Inception
Total Return (%)
-9.47
-3.10
18.29
29.42
87.98
94.00
Investment Income Builder Blend (%)
-12.60
-8.96
23.75
41.20
119.80
122.67
2016
2017
2018
2019
2020
2021
Total Return (%)
9.92
14.99
-4.81
18.42
2.30
17.62
Investment Income Builder Blend (%)
6.41
17.42
-6.42
22.87
14.41
15.64
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 3 Apr 2017)
(Hypothetical Growth of $10,000 vs Investment Income Builder Blend)
Fund Facts

Fund Facts

(As of 31 Jul 2022)
Net Fund Assets
$24.2 M
Benchmark
Investment Income Builder Blend
Morningstar Category
EAA Fund USD Aggressive Allocation
Fund Symbol
TBIIBUI ID
Share Class
I Acc
Share Class Inception Date
29 Jun 2012
Number of Holdings
58
Distribution Frequency
N/a
Characteristics

Characteristics

Portfolio

(As of 31 Jul 2022)
Portfolio
Benchmark
Weighted Average Market Cap
$133.9 B
$398.9 B
Median Market Cap
$49.7 B
$17.1 B
Dividend Yield
4.4%
2.0%
Price to Earnings - Forward 1YR
8.5x
15.9x
Price to Earnings - Trailing 12 Months
10.5x
17.7x
Price to Cash Flow
4.5x
11.7x
Portfolio
Benchmark
Price to Book Value
1.4x
2.9x
Return on Assets - 5 YR
7.3%
10.8%
Return on Equity - 5 YR
20.2%
81.0%
Historical 3YR Sales Growth
4.2%
10.1%
Active Share
91.9%
Risk & Return Profile

Risk & Return Profile

(As of 30 Jun 2022)
3y
5y
10y
Annualized Alpha (%)
-0.60
-1.32
-1.82
Beta
1.10
1.07
1.08
R-Squared (%)
74.75
73.74
75.99
Standard Deviation (%)
19.24
15.95
13.31
Sharpe Ratio
0.22
0.26
0.45
Information Ratio
-0.05
-0.10
-0.13
Up Capture (%)
105.12
103.58
105.15
Down Capture (%)
106.16
105.41
107.69
Portfolio

Portfolio

Top Holdings

(As of 30 Jun 2022)
Name
Ticker/Symbol
Sector
Weight %
TotalEnergies SE
TTE
Energy
4.7
Roche Holding AG
ROG
Health Care
3.9
CME Group, Inc.
CME
Financials
3.7
NN Group N.V.
NN
Financials
3.7
Pfizer, Inc.
PFE
Health Care
3.5
Taiwan Semiconductor Manufacturing Co. Ltd.
TSM
Information Technology
3.5
Orange S.A.
ORA
Communication Services
3.2
Atlantia SpA
ATL
Industrials
3.2
QUALCOMM, Inc.
QCOM
Information Technology
3.1
AbbVie, Inc.
ABBV
Health Care
3.0
Exposure Breakdown

Exposure Breakdown

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

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Financials
24.2
13.2
Health Care
16.3
13.5
Information Technology
15.7
22.1
Energy
11.3
4.9
Industrials
9.1
10.0
Communication Services
8.0
7.2
Consumer Discretionary
5.3
11.3
Utilities
4.5
3.1
Consumer Staples
4.4
7.5
Materials
1.1
4.1
Real Estate
0.1
2.9
Sector Allocation
Fund (%)
Financials
24.2
Health Care
16.3
Information Technology
15.7
Energy
11.3
Industrials
9.1
Communication Services
8.0
Consumer Discretionary
5.3
Utilities
4.5
Consumer Staples
4.4
Materials
1.1
Real Estate
0.1
Top 10 Industries
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
Pharmaceuticals, Biotechnology & Life Sciences
14.7
8.7
Energy
10.2
4.9
Semiconductors & Semiconductor Equipment
9.6
4.5
Diversified Financials
8.9
4.5
Insurance
7.8
3.0
Telecommunication Services
7.2
1.8
Banks
5.2
5.6
Technology Hardware & Equipment
4.5
6.8
Transportation
4.2
2.1
Capital Goods
4.1
6.6
Top 10 Industries
Fund (%)
Pharmaceuticals, Biotechnology & Life Sciences
14.7
Energy
10.2
Semiconductors & Semiconductor Equipment
9.6
Diversified Financials
8.9
Insurance
7.8
Telecommunication Services
7.2
Banks
5.2
Technology Hardware & Equipment
4.5
Transportation
4.2
Capital Goods
4.1
Top 10 Countries
Fund (%)
Benchmark (%)
Region

Portfolio

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
United States
29.4
75.3
North America
Italy
11.4
0.4
Europe ex UK
France
10.9
2.4
Europe ex UK
United Kingdom
9.2
3.6
UK
Germany
8.4
1.6
Europe ex UK
Switzerland
6.7
2.1
Europe ex UK
Netherlands
6.5
0.9
Europe ex UK
Taiwan
3.7
0.0
Asia Pacific ex Japan
Korea, Republic of (South Korea)
2.8
0.0
Asia Pacific ex Japan
Spain
1.2
0.5
Europe ex UK
Top 10 Countries
Fund (%)
United States
29.4
Italy
11.4
France
10.9
United Kingdom
9.2
Germany
8.4
Switzerland
6.7
Netherlands
6.5
Taiwan
3.7
Korea, Republic of (South Korea)
2.8
Spain
1.2
Capitalization
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Cap (> $12 B)
96.0
93.6
Mid Cap ($2.5 to $12 B)
3.6
6.4
Small Cap (< $2.5 B)
0.4
0.0
Capitalization
Fund (%)
Large Cap (> $12 B)
96.0
Mid Cap ($2.5 to $12 B)
3.6
Small Cap (< $2.5 B)
0.4
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,…
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Matt Burdett
Matt Burdett
Portfolio Manager and Managing Director
Matt Burdett is portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager and was promoted to portfolio manager in 2018. Matt spent several years as a senior vice president and portfolio manager at PIMCO, where he co-managed various dividend-oriented strategies. Prior to his time at PIMCO, Matt worked as an equity analyst…
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Ben Kirby, CFA
Ben Kirby, CFA
Co-Head of Investments and Managing Director
Ben Kirby is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Ben is also a portfolio manager on multiple strategies. He joined Thornburg in 2008 as equity research analyst, was promoted to associate portfolio manager in 2011, and was named portfolio manager and managing director in 2013. Ben holds…
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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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