Thornburg Limited Term Income Fund (UCITS)
SYMBOL: THLTIUD ID
Morningstar Rating • Info
Overall Morningstar Rating among 139 EAA Fund USD Corporate Bond - Short Term funds, based on risk-adjusted returns for class I Dist shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 2 stars, 2 stars and 3 stars among 139, 126 and 66 funds, as of 31 May 2025.
As of 31 May 2025
Fund Assets
$71.4 M
As of 31 May 2025
NAV
$9.97
As of 27 Jun 2025
Change
$-0.01
As of 27 Jun 2025
YTD NAV Performance
3.62%
As of 27 Jun 2025
Asset Category:
Global Fixed Income
Fund Benchmark:
Bloomberg Intermediate U.S. Government/Credit Index
Portfolio Managers
Portfolio Manager and Managing Director
Head of Fixed Income and Managing Director
Overview
Fund Facts
Fund Facts
(As of 31 May 2025)Net Fund Assets
$71.4 M
Benchmark
Bloomberg Intermediate U.S. Government/Credit Index
Morningstar Category
EAA Fund USD Corporate Bond - Short Term
Distribution Frequency
Monthly
SFDR
Article 8
Minimum Investment
$1,000,000
Ongoing Charges
0.60%
Management Fee
0.45%
Share Class
I Dist
Share Class Inception Date
3 May 2017
Fund Inception Date
3 May 2017
Bloomberg Ticker
THLTIUD ID
ISIN
IE00BF1ZC359
Cusip
G8850P 226
SEDOL
BF1ZC35
Performance
Performance
Returns
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Total Return (%)
—
—
—
1.02
5.13
7.06
-1.12
-6.97
6.17
4.20
Bloomberg Intermediate U.S. Government/Credit Index (%)
—
—
—
0.88
6.80
6.43
-1.44
-8.23
5.24
3.00
Hypothetical Growth of $10,000
Hypothetical Growth of $10,000
(As of 31 May 2025)
(Hypothetical Growth of $10,000 vs Bloomberg Intermediate U.S. Government/Credit Index)
Distributions
Distributions
(As of 5 Jun 2025)Ex-Date
Payable Date
Total ($)
Income ($)
ST Cap Gains ($)
LT Cap Gains ($)
31 Jan 2017
31 Jan 2017
0
—
—
—
28 Feb 2017
28 Feb 2017
0
—
—
—
31 Mar 2017
31 Mar 2017
0
—
—
—
30 Apr 2017
30 Apr 2017
0
—
—
—
7 Jun 2017
31 May 2017
0.00489
0.00489
—
—
7 Jul 2017
30 Jun 2017
0.01059
0.01059
—
—
4 Aug 2017
31 Jul 2017
0.01343
0.01343
—
—
7 Sep 2017
31 Aug 2017
0.01487
0.01487
—
—
5 Oct 2017
30 Sep 2017
0.01365
0.01365
—
—
6 Nov 2017
31 Oct 2017
0.01476
0.01476
—
—
6 Dec 2017
30 Nov 2017
0.01537
0.01537
—
—
5 Jan 2018
31 Dec 2017
0.01546
0.01546
—
—
6 Feb 2018
31 Jan 2018
0.01763
0.01763
—
—
6 Mar 2018
28 Feb 2018
0.01323
0.01323
—
—
6 Apr 2018
31 Mar 2018
0.01734
0.01734
—
—
4 May 2018
30 Apr 2018
0.01721
0.01721
—
—
7 Jun 2018
31 May 2018
0.01726
0.01726
—
—
6 Jul 2018
30 Jun 2018
0.01843
0.01843
—
—
7 Aug 2018
31 Jul 2018
0.01858
0.01858
—
—
7 Sep 2018
31 Aug 2018
0.01801
0.01801
—
—
4 Oct 2018
30 Sep 2018
0.01755
0.01755
—
—
6 Nov 2018
31 Oct 2018
0.01870
0.01870
—
—
7 Dec 2018
30 Nov 2018
0.01981
0.01981
—
—
7 Jan 2019
31 Dec 2018
0.02054
0.02054
—
—
6 Feb 2019
31 Jan 2019
0.02064
0.02064
—
—
5 Mar 2019
28 Feb 2019
0.01878
0.01878
—
—
3 Apr 2019
31 Mar 2019
0.01989
0.01989
—
—
3 May 2019
30 Apr 2019
0.01893
0.01893
—
—
3 Jun 2019
31 May 2019
0.02021
0.02021
—
—
3 Jul 2019
30 Jun 2019
0.01876
0.01876
—
—
6 Aug 2019
31 Jul 2019
0.02237
0.02237
—
—
5 Sep 2019
31 Aug 2019
0.01898
0.01898
—
—
1 Oct 2019
30 Sep 2019
0.01776
0.01776
—
—
5 Nov 2019
31 Oct 2019
0.01793
0.01793
—
—
4 Dec 2019
30 Nov 2019
0.01793
0.01793
—
—
6 Jan 2020
31 Dec 2019
0.01784
0.01784
—
—
5 Feb 2020
31 Jan 2020
0.01681
0.01681
—
—
4 Mar 2020
29 Feb 2020
0.01898
0.01898
—
—
3 Apr 2020
31 Mar 2020
0.01648
0.01648
—
—
6 May 2020
30 Apr 2020
0.01907
0.01907
—
—
4 Jun 2020
31 May 2020
0.01672
0.01672
—
—
6 Jul 2020
30 Jun 2020
0.01309
0.01309
—
—
6 Aug 2020
31 Jul 2020
0.01546
0.01546
—
—
3 Sep 2020
31 Aug 2020
0.01420
0.01420
—
—
5 Oct 2020
30 Sep 2020
0.01494
0.01494
—
—
4 Nov 2020
31 Oct 2020
0.01241
0.01241
—
—
3 Dec 2020
30 Nov 2020
0.00997
0.00997
—
—
6 Jan 2021
31 Dec 2020
0.01043
0.01043
—
—
3 Feb 2021
31 Jan 2021
0.00798
0.00798
—
—
3 Mar 2021
28 Feb 2021
0.01070
0.01070
—
—
7 Apr 2021
31 Mar 2021
0.01162
0.01162
—
—
6 May 2021
30 Apr 2021
0.01298
0.01298
—
—
3 Jun 2021
31 May 2021
0.01007
0.01007
—
—
6 Jul 2021
30 Jun 2021
0.01192
0.01192
—
—
5 Aug 2021
31 Jul 2021
0.01148
0.01148
—
—
3 Sep 2021
31 Aug 2021
0.01044
0.01044
—
—
5 Oct 2021
30 Sep 2021
0.01072
0.01072
—
—
3 Nov 2021
31 Oct 2021
0.01238
0.01238
—
—
3 Dec 2021
30 Nov 2021
0.01031
0.01031
—
—
6 Jan 2022
31 Dec 2021
0.01225
0.01225
—
—
3 Feb 2022
31 Jan 2022
0.01040
0.01040
—
—
3 Mar 2022
28 Feb 2022
0.01106
0.01106
—
—
5 Apr 2022
31 Mar 2022
0.01313
0.01313
—
—
5 May 2022
30 Apr 2022
0.01464
0.01464
—
—
3 Jun 2022
31 May 2022
0.01465
0.01465
—
—
6 Jul 2022
30 Jun 2022
0.01560
0.01560
—
—
4 Aug 2022
31 Jul 2022
0.01896
0.01896
—
—
6 Sep 2022
31 Aug 2022
0.02042
0.02042
—
—
5 Oct 2022
30 Sep 2022
0.01729
0.01729
—
—
3 Nov 2022
31 Oct 2022
0.01648
0.01648
—
—
5 Dec 2022
30 Nov 2022
0.01942
0.01942
—
—
5 Jan 2023
31 Dec 2022
0.02387
0.02387
—
—
3 Feb 2023
31 Jan 2023
0.01876
0.01876
—
—
3 Mar 2023
28 Feb 2023
0.01965
0.01965
—
—
5 Apr 2023
31 Mar 2023
0.02772
0.02772
—
—
4 May 2023
30 Apr 2023
0.02453
0.02453
—
—
6 Jun 2023
31 May 2023
0.02408
0.02408
—
—
6 Jul 2023
30 Jun 2023
0.02784
0.02784
—
—
3 Aug 2023
31 Jul 2023
0.02312
0.02312
—
—
6 Sep 2023
31 Aug 2023
0.02549
0.02549
—
—
4 Oct 2023
30 Sep 2023
0.02419
0.02419
—
—
3 Nov 2023
31 Oct 2023
0.02741
0.02741
—
—
5 Dec 2023
30 Nov 2023
0.03063
0.03063
—
—
4 Jan 2024
31 Dec 2023
0.02871
0.02871
—
—
6 Feb 2024
31 Jan 2024
0.02703
0.02703
—
—
5 Mar 2024
29 Feb 2024
0.02740
0.02740
—
—
4 Apr 2024
31 Mar 2024
0.03219
0.03219
—
—
3 May 2024
30 Apr 2024
0.04065
0.04065
—
—
6 Jun 2024
31 May 2024
0.05295
0.05295
—
—
3 Jul 2024
30 Jun 2024
0.02996
0.02996
—
—
6 Aug 2024
31 Jul 2024
0.03395
0.03395
—
—
5 Sep 2024
31 Aug 2024
0.03487
0.03487
—
—
3 Oct 2024
30 Sep 2024
0.03266
0.03266
—
—
5 Nov 2024
31 Oct 2024
0.03263
0.03263
—
—
4 Dec 2024
30 Nov 2024
0.03138
0.03138
—
—
6 Jan 2025
31 Dec 2024
0.03191
0.03191
—
—
6 Feb 2025
31 Jan 2025
0.03471
0.03471
—
—
5 Mar 2025
28 Feb 2025
0.02953
0.02953
—
—
3 Apr 2025
31 Mar 2025
0.03204
0.03204
—
—
6 May 2025
30 Apr 2025
0.03844
0.03844
—
—
5 Jun 2025
31 May 2025
0.03529
0.03529
—
—
Characteristics
Characteristics
Portfolio
(As of 31 May 2025)Portfolio
Benchmark
Effective Duration
3.5 Yrs
3.7 Yrs
Average Effective Maturity
4.4 Yrs
4.2 Yrs
Portfolio
Benchmark
Weighted Average Coupon
3.6%
3.5%
Yield to Worst
5.0%
4.3%
Risk & Return Profile
Risk & Return Profile
(As of 31 May 2025)3y
5y
Beta
0.85
0.86
R-Squared (%)
96.17
93.92
Standard Deviation (%)
4.00
3.63
Sharpe Ratio
-0.22
-0.34
Information Ratio
0.92
0.99
Tracking Error (%)
1.03
1.05
Up Capture (%)
94.80
97.63
Down Capture (%)
75.33
77.96
Portfolio
Portfolio
Top Holdings
(As of 30 Apr 2025)Name
Ticker/Symbol
Weight %
Freddie Mac Pool
3132DU5J2
2.9
Freddie Mac Pool
31427MKG5
2.9
Fannie Mae Pool
3140XMX27
2.3
United States Treasury Inflation Indexed Bonds
91282CJY8
2.0
United States Treasury Inflation Indexed Bonds
91282CKL4
1.6
Fannie Mae Pool
3140X8PW1
1.5
United States Treasury Note/Bond
91282CEP2
1.4
New Residential Mortgage Loan Trust 2022-NQM3
64831QAA1
1.3
United States Treasury Inflation Indexed Bonds
912810PZ5
1.0
Bayer US Finance II, LLC
07274NAJ2
1.0
Exposure Breakdown
Exposure Breakdown
(As of 31 May 2025)Sector Allocation
Fund (%)
Corporate
44.6
Collateralized Mortgage Obligation
19.1
Mortgage Passthrough
17.6
Treasury-Domestic
6.8
Asset Backed Securities
6.5
Commercial Mortgage Backed Security
2.6
Cash & Cash Equivalents
1.3
Preferred Stock
0.7
Agency Debenture
0.4
Treasury-Foreign
0.2
Municipals
0.1
Credit Quality
Fund (%)
U.S. Government
34.7
AAA
15.0
AA
3.9
A
15.9
BBB
28.5
Not Rated
0.7
Cash & Cash Equivalents
1.3
Maturity
Fund (%)
Year 1
15.2
Year 2
12.1
Year 3
10.6
Year 4
10.5
Year 5
15.1
Year 6
6.2
Year 7
5.2
Year 8
4.5
Year 9
6.4
Year 10+
13.0
Cash
1.3
Portfolio Managers
Portfolio Managers

Lon Erickson, CFA
Portfolio Manager and Managing Director
Lon Erickson is a portfolio manager for Thornburg Investment Management. He joined Thornburg in 2008 and was named a managing director and was promoted to portfolio manager in 2010. Prior to joining Thornburg Investment Management, Lon spent almost 11 years as an analyst for State Farm Insurance in the equity and corporate bond departments. Lon earned a bachelor’s degree in…
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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…
Learn More
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