Core Growth Fund - Performance

Share Class

Average Annual Total Returns

A Shares (Incep. 12/27/2000) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
THCGX with sales charge15.62%23.45%14.67%12.02%13.13%7.51%
THCGX without sales charge21.06%29.26%16.44%13.06%13.65%7.76%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR19.11%28.20%18.01%16.84%16.00%7.47%
A Shares (Incep. 12/27/2000) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
THCGX with sales charge18.30%28.30%15.89%14.13%13.85%7.67%
THCGX without sales charge23.86%34.37%17.68%15.19%14.37%7.92%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR23.00%36.12%20.73%19.51%16.91%7.68%
A Shares without sales charge
(Incep. 12/27/2000)
Russell 3000 Growth TR
2001 -19.18% -19.63%
2002 -26.37% -28.03%
2003 56.45% 30.97%
2004 15.38% 6.93%
2005 22.09% 5.17%
2006 18.11% 9.46%
2007 11.42% 11.40%
2008 -50.95% -38.44%
2009 45.39% 37.01%
2010 9.73% 17.64%
2011 1.35% 2.18%
2012 21.42% 15.21%
2013 42.59% 34.23%
2014 0.07% 12.44%
2015 2.78% 5.09%
2016 -2.35% 7.39%
2017 23.91% 29.59%
2018 -2.56% -2.12%
2019 28.91% 35.85%

Returns for less than one year are not annualized.
Source: Confluence

Fund Operating Expenses — Class A Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus) 1.35%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 1.20%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 1.33%

Morningstar Rating

Overall Morningstar Rating among 1229 Large Growth funds, based on risk-adjusted returns for class A shares, using a weighted average of the fund's three-, five- and ten-year ratings: respectively, 3 stars, 2 stars and 2 stars among 1229, 1095 and 813 funds, as of 9/30/2020.

Dividends and Capital Gains — Class A Shares

Dividend (December 2019) None Paid
Capital Gains (2018) None Paid

Hypothetical Growth of $10,000 as of (Thornburg Core Growth Fund vs. Russell 3000 Growth TR)

A Shares with sales charge
42078.92700000
Russell 3000 Growth TR
41771.34010000
The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Additional Rating and Ranking Information

Average Annual Total Returns

C Shares (Incep. 12/27/2000) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
TCGCX with sales charge19.30%27.28%15.52%12.18%12.79%6.91%
TCGCX without sales charge20.30%28.28%15.52%12.18%12.79%6.91%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR19.11%28.20%18.01%16.84%16.00%7.47%
C Shares (Incep. 12/27/2000) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
TCGCX with sales charge22.15%32.38%16.74%14.28%13.50%7.07%
TCGCX without sales charge23.15%33.38%16.74%14.28%13.50%7.07%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR23.00%36.12%20.73%19.51%16.91%7.68%
C Shares without sales charge
(Incep. 12/27/2000)
Russell 3000 Growth TR
2001 -19.78% -19.63%
2002 -27.21% -28.03%
2003 55.04% 30.97%
2004 14.50% 6.93%
2005 21.16% 5.17%
2006 17.20% 9.46%
2007 10.62% 11.40%
2008 -51.33% -38.44%
2009 44.25% 37.01%
2010 8.96% 17.64%
2011 0.56% 2.18%
2012 20.51% 15.21%
2013 41.52% 34.23%
2014 -0.65% 12.44%
2015 1.96% 5.09%
2016 -3.05% 7.39%
2017 22.96% 29.59%
2018 -3.40% -2.12%
2019 27.92% 35.85%

Returns for less than one year are not annualized.
Source: Confluence

Fund Operating Expenses — Class C Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus) 2.18%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 2.03%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 2.09%

Morningstar Rating

Overall Morningstar Rating among 1229 Large Growth funds, based on risk-adjusted returns for class C shares, using a weighted average of the fund's three-, five- and ten-year ratings: respectively, 3 stars, 2 stars and 2 stars among 1229, 1095 and 813 funds, as of 9/30/2020.

Dividends and Capital Gains — Class C Shares

Dividend (December 2019) None Paid
Capital Gains (2018) None Paid

Hypothetical Growth of $10,000 as of (Thornburg Core Growth Fund vs. Russell 3000 Growth TR)

C Shares
37671.19150000
Russell 3000 Growth TR
41771.34010000
The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Additional Rating and Ranking Information

Average Annual Total Returns

I Shares (Incep. 11/3/2003) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
THIGX21.39%29.68%16.85%13.48%14.12%8.27%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR19.11%28.20%18.01%16.84%16.00%7.47%
I Shares (Incep. 11/3/2003) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
THIGX24.16%34.84%18.10%15.62%14.84%8.43%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR23.00%36.12%20.73%19.51%16.91%7.68%
I Shares* (Incep. 11/3/2003) Russell 3000 Growth TR
2001 -19.18% -19.63%
2002 -26.37% -28.03%
2003 57.34% 30.97%
2004 16.10% 6.93%
2005 22.72% 5.17%
2006 18.73% 9.46%
2007 11.88% 11.40%
2008 -50.74% -38.44%
2009 46.21% 37.01%
2010 10.24% 17.64%
2011 1.86% 2.18%
2012 21.95% 15.21%
2013 43.22% 34.23%
2014 0.52% 12.44%
2015 3.19% 5.09%
2016 -1.95% 7.39%
2017 24.40% 29.59%
2018 -2.20% -2.12%
2019 29.37% 35.85%

* Since 12/27/2000.
Prior to inception of this share class, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.
Returns for less than one year are not annualized.
Source: Confluence

Fund Operating Expenses — Class I Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus) 1.05%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 0.84%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 0.99%

Morningstar Rating

Overall Morningstar Rating among 1229 Large Growth funds, based on risk-adjusted returns for class I shares, using a weighted average of the fund's three-, five- and ten-year ratings: respectively, 3 stars, 2 stars and 3 stars among 1229, 1095 and 813 funds, as of 9/30/2020.

Dividends and Capital Gains — Class I Shares

Dividend (December 2019) None Paid
Capital Gains (2018) None Paid

Hypothetical Growth of $10,000 as of (Thornburg Core Growth Fund vs. Russell 3000 Growth TR)

I Shares
48408.23300000
Russell 3000 Growth TR
41771.34010000
The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Prior to inception of this share class, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Additional Rating and Ranking Information

Average Annual Total Returns

R3 Shares (Incep. 7/1/2003) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
THCRX20.89%29.02%16.26%12.91%13.54%7.70%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR19.11%28.20%18.01%16.84%16.00%7.47%
R3 Shares (Incep. 7/1/2003) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
THCRX23.72%34.17%17.50%15.03%14.26%7.87%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR23.00%36.12%20.73%19.51%16.91%7.68%
R3 Shares* (Incep. 7/1/2003) Russell 3000 Growth TR
2001 -19.18% -19.63%
2002 -26.37% -28.03%
2003 57.31% 30.97%
2004 15.03% 6.93%
2005 22.19% 5.17%
2006 17.98% 9.46%
2007 11.29% 11.40%
2008 -51.00% -38.44%
2009 45.39% 37.01%
2010 9.80% 17.64%
2011 1.28% 2.18%
2012 21.36% 15.21%
2013 42.45% 34.23%
2014 0.00% 12.44%
2015 2.68% 5.09%
2016 -2.46% 7.39%
2017 23.79% 29.59%
2018 -2.72% -2.12%
2019 28.72% 35.85%

* Since 12/27/2000.
Prior to inception of this share class, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.
Returns for less than one year are not annualized.
Source: Confluence

Fund Operating Expenses — Class R3 Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus) 1.80%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 1.35%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 1.50%

Morningstar Rating

Overall Morningstar Rating among 1229 Large Growth funds, based on risk-adjusted returns for class R3 shares, using a weighted average of the fund's three-, five- and ten-year ratings: respectively, 3 stars, 2 stars and 2 stars among 1229, 1095 and 813 funds, as of 9/30/2020.

Dividends and Capital Gains — Class R3 Shares

Dividend (December 2019) None Paid
Capital Gains (2018) None Paid

Hypothetical Growth of $10,000 as of (Thornburg Core Growth Fund vs. Russell 3000 Growth TR)

R3 Shares
43617.23250000
Russell 3000 Growth TR
41771.34010000
The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Prior to inception of this share class, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Additional Rating and Ranking Information

Average Annual Total Returns

R4 Shares (Incep. 2/1/2007) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
TCGRX20.99%29.16%16.39%13.02%13.65%7.76%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR19.11%28.20%18.01%16.84%16.00%7.47%
R4 Shares (Incep. 2/1/2007) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
TCGRX23.81%34.28%17.62%15.15%14.38%7.92%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR23.00%36.12%20.73%19.51%16.91%7.68%
R4 Shares* (Incep. 2/1/2007) Russell 3000 Growth TR
2001 -19.15% -19.63%
2002 -26.34% -28.03%
2003 56.51% 30.97%
2004 15.43% 6.93%
2005 22.09% 5.17%
2006 18.11% 9.46%
2007 11.48% 11.40%
2008 -50.98% -38.44%
2009 45.59% 37.01%
2010 9.85% 17.64%
2011 1.41% 2.18%
2012 21.48% 15.21%
2013 42.59% 34.23%
2014 0.11% 12.44%
2015 2.77% 5.09%
2016 -2.34% 7.39%
2017 23.88% 29.59%
2018 -2.61% -2.12%
2019 28.84% 35.85%

* Since 12/27/2000.
Prior to inception of this share class, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.
Returns for less than one year are not annualized.
Source: Confluence

Fund Operating Expenses — Class R4 Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus) 1.91%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 1.25%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 1.40%

Morningstar Rating

Overall Morningstar Rating among 1229 Large Growth funds, based on risk-adjusted returns for class R4 shares, using a weighted average of the fund's three-, five- and ten-year ratings: respectively, 3 stars, 2 stars and 2 stars among 1229, 1095 and 813 funds, as of 9/30/2020.

Dividends and Capital Gains — Class R4 Shares

Dividend (December 2019) None Paid
Capital Gains (2018) None Paid

Hypothetical Growth of $10,000 as of (Thornburg Core Growth Fund vs. Russell 3000 Growth TR)

R4 Shares
44044.63280000
Russell 3000 Growth TR
41771.34010000
The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Prior to inception of this share class, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Additional Rating and Ranking Information

Average Annual Total Returns

R5 Shares (Incep. 10/3/2005) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
THGRX21.39%29.69%16.85%13.48%14.12%8.23%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR19.11%28.20%18.01%16.84%16.00%7.47%
R5 Shares (Incep. 10/3/2005) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
THGRX24.17%34.83%18.09%15.62%14.84%8.39%
Benchmark (Since 12/27/2000)
Russell 3000 Growth TR23.00%36.12%20.73%19.51%16.91%7.68%
R5 Shares* (Incep. 10/3/2005) Russell 3000 Growth TR
2001 -19.56% -19.63%
2002 -26.72% -28.03%
2003 55.72% 30.97%
2004 14.85% 6.93%
2005 21.80% 5.17%
2006 18.67% 9.46%
2007 11.89% 11.40%
2008 -50.76% -38.44%
2009 46.15% 37.01%
2010 10.32% 17.64%
2011 1.80% 2.18%
2012 21.97% 15.21%
2013 43.21% 34.23%
2014 0.52% 12.44%
2015 3.15% 5.09%
2016 -1.92% 7.39%
2017 24.43% 29.59%
2018 -2.23% -2.12%
2019 29.37% 35.85%

* Since 12/27/2000.
Prior to inception of this share class, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.
Returns for less than one year are not annualized.
Source: Confluence

Fund Operating Expenses — Class R5 Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus) 1.39%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 0.84%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 0.99%

Morningstar Rating

Overall Morningstar Rating among 1229 Large Growth funds, based on risk-adjusted returns for class R5 shares, using a weighted average of the fund's three-, five- and ten-year ratings: respectively, 3 stars, 2 stars and 3 stars among 1229, 1095 and 813 funds, as of 9/30/2020.

Dividends and Capital Gains — Class R5 Shares

Dividend (December 2019) None Paid
Capital Gains (2018) None Paid

Hypothetical Growth of $10,000 as of (Thornburg Core Growth Fund vs. Russell 3000 Growth TR)

R5 Shares
48042.87290000
Russell 3000 Growth TR
41771.34010000
The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Prior to inception of this share class, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Additional Rating and Ranking Information
Important Information