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Thornburg Equity Income Builder Fund (UCITS)

Morningstar Rating  • Info

Overall Morningstar Rating among 419 EAA Fund USD Aggressive Allocation funds, based on risk-adjusted returns for class A Acc shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 5 stars, 5 stars and 5 stars among 419, 328 and 155 funds, as of 30 Apr 2025.

As of 30 Apr 2025
Fund Assets
$102.7 M
As of 30 Apr 2025
NAV
$27.72
As of 19 May 2025
Change
$0.20
As of 19 May 2025
YTD NAV Performance
14.55%
As of 19 May 2025
Asset Category:
Global Equity
Fund Benchmark:
MSCI World Index

Portfolio Managers

Head of Equities and Managing Director
Vice Chairman, Chief Investment Strategist and Managing Director
Head of Fixed Income and Managing Director
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 Apr 2025)
Net Fund Assets
$102.7 M
Benchmark
MSCI World Index
Morningstar Category
EAA Fund USD Aggressive Allocation
Distribution Frequency
N/A
SFDR
Article 8
Minimum Investment
$1,000
Ongoing Charges
1.75%
Management Fee
1.50%
Share Class
A Acc
Share Class Inception Date
29 Jun 2012
Fund Inception Date
28 Jun 2012
Bloomberg Ticker
TBIIBUA ID
ISIN
IE00B7FL4N74
Cusip
G8T49N 198
SEDOL
B7FL4N7
Performance

Performance

Returns

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Total Return (%)
-5.24
8.92
14.03
-5.65
17.34
1.38
16.53
-6.81
18.28
11.62
MSCI World Index (%)
-0.87
7.51
22.40
-8.71
27.67
15.90
21.82
-18.14
23.79
18.67
YTD
1y
3y
5y
10y
Inception
Total Return (%)
9.13
14.93
11.56
16.08
7.30
7.91
MSCI World Index (%)
-1.79
7.04
7.58
16.13
9.50
10.77
Morningstar Category Avg. (%)
-0.74
4.05
3.2
9.23
4.82
Morningstar Quartile
1
1
1
1
Morningstar Quartile # of Funds
505
419
328
155
YTD
1y
3y
5y
10y
Inception
Total Return (%)
10.70
18.38
13.51
14.76
7.16
7.98
MSCI World Index (%)
-0.92
12.16
11.06
13.95
9.34
10.77
Morningstar Category Avg. (%)
-0.74
4.05
3.2
9.23
4.82
Morningstar Quartile
1
1
1
1
Morningstar Quartile # of Funds
505
419
328
155
YTD
1y
3y
5y
10y
Inception
Total Return (%)
9.13
14.93
38.85
110.77
102.22
164.10
MSCI World Index (%)
-1.79
7.04
24.51
111.20
147.76
268.52
YTD
1y
3y
5y
10y
Inception
Total Return (%)
10.70
18.38
46.23
99.03
99.63
167.90
MSCI World Index (%)
-0.92
12.16
37.00
92.09
144.24
271.79
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 30 Apr 2025)
(Hypothetical Growth of $10,000 vs MSCI World Index)
Characteristics

Characteristics

Portfolio

(As of 30 Apr 2025)
Portfolio
Benchmark
Weighted Average Market Cap
$141.8 B
$645.1 B
Median Market Cap
$52.4 B
$22.6 B
Price to Earnings - Forward 1YR
12.0x
18.9x
Dividend Yield
4.4%
1.8%
Price to Earnings - Trailing 12 Months
14.0x
22.0x
Price to Cash Flow
5.4x
13.2x
Portfolio
Benchmark
Price to Book Value
1.5x
3.3x
Return on Assets - 5 YR
4.6%
10.0%
Return on Equity - 5 YR
15.7%
33.7%
Historical 3YR Sales Growth
5.0%
15.2%
Active Share
91.5%
Risk & Return Profile

Risk & Return Profile

(As of 31 Mar 2025)
3y
5y
10y
Annualized Alpha (%)
7.16
4.85
0.65
Beta
0.67
0.74
0.80
R-Squared (%)
71.79
72.83
79.21
Standard Deviation (%)
13.02
14.10
13.57
Sharpe Ratio
0.63
1.02
0.47
Information Ratio
0.57
0.12
-0.18
Tracking Error (%)
8.82
8.45
6.84
Up Capture (%)
79.24
79.86
79.12
Down Capture (%)
51.37
58.18
75.27
Portfolio

Portfolio

Top Holdings

(As of 31 Mar 2025)
Name
Ticker/Symbol
Sector
Weight %
Orange S.A.
ORA
Communication Services
5.6
BNP Paribas S.A.
BNP
Financials
3.7
AT&T, Inc.
T
Communication Services
3.3
Broadcom, Inc.
AVGO
Information Technology
2.8
E.ON SE
EOAN
Utilities
2.8
Enel SpA
ENEL
Utilities
2.8
Roche Holding AG
ROG
Health Care
2.7
TotalEnergies SE
TTE
Energy
2.6
CME Group, Inc.
CME
Financials
2.5
NN Group N.V.
NN
Financials
2.5
Exposure Breakdown

Exposure Breakdown

(As of 30 Apr 2025)
Sector Allocation
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Financials
21.9
17.3
Communication Services
16.4
8.0
Health Care
12.7
10.8
Utilities
11.6
2.8
Information Technology
8.3
23.9
Energy
7.9
3.6
Cash & Cash Equivalents
6.4
Industrials
6.2
11.2
Materials
3.3
3.4
Consumer Staples
3.2
6.6
Consumer Discretionary
2.2
10.2
Real Estate
0.0
2.2
Sector Allocation
Fund (%)
Financials
21.9
Communication Services
16.4
Health Care
12.7
Utilities
11.6
Information Technology
8.3
Energy
7.9
Cash & Cash Equivalents
6.4
Industrials
6.2
Materials
3.3
Consumer Staples
3.2
Consumer Discretionary
2.2
Real Estate
0.0
Top 10 Industries
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
Telecommunication Services
16.4
1.5
Utilities
11.6
2.8
Pharmaceuticals, Biotechnology & Life Sciences
11.0
7.0
Banks
10.7
6.4
Energy
7.9
3.6
Insurance
6.9
3.5
Semiconductors & Semiconductor Equipment
5.3
7.7
Capital Goods
4.6
8.0
Financial Services
4.3
7.3
Materials
3.3
3.4
Top 10 Industries
Fund (%)
Telecommunication Services
16.4
Utilities
11.6
Pharmaceuticals, Biotechnology & Life Sciences
11.0
Banks
10.7
Energy
7.9
Insurance
6.9
Semiconductors & Semiconductor Equipment
5.3
Capital Goods
4.6
Financial Services
4.3
Materials
3.3
Top 10 Countries
Fund (%)
Benchmark (%)
Region

Portfolio

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
United States
22.0
70.9
North America
France
17.0
2.9
Europe ex UK
United Kingdom
11.4
3.8
UK
Germany
10.5
2.7
Europe ex UK
Switzerland
7.5
2.6
Europe ex UK
Italy
6.2
0.8
Europe ex UK
Netherlands
5.6
1.1
Europe ex UK
Canada
2.6
3.2
North America
Spain
2.4
0.8
Europe ex UK
Taiwan
2.3
Asia Pacific ex Japan
Top 10 Countries
Fund (%)
United States
22.0
France
17.0
United Kingdom
11.4
Germany
10.5
Switzerland
7.5
Italy
6.2
Netherlands
5.6
Canada
2.6
Spain
2.4
Taiwan
2.3
Capitalization
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Cap (> $12 B)
96.1
96.7
Mid Cap ($2.5 to $12 B)
3.2
3.3
Small Cap (< $2.5 B)
0.6
Capitalization
Fund (%)
Large Cap (> $12 B)
96.1
Mid Cap ($2.5 to $12 B)
3.2
Small Cap (< $2.5 B)
0.6
Portfolio Managers

Portfolio Managers

Matt Burdett

Matt Burdett

Head of Equities 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

Brian McMahon

Vice Chairman, Chief Investment Strategist and Managing Director
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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Christian Hoffmann, CFA

Christian Hoffmann, CFA

Head of Fixed Income and Managing Director
Christian Hoffmann is head of fixed income and a portfolio manager for Thornburg Investment Management. He joined the firm in 2012 as a fixed income analyst and was promoted to associate portfolio manager in 2014. Christian was named a managing director in 2017, was promoted to portfolio manager in 2018, and to head of fixed income in 2024. Prior to…
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