International Growth Fund - Performance

Share Class

Average Annual Total Returns

A Shares (Incep. 2/1/2007) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
TIGAX without sales charge18.30%26.63%8.19%9.67%9.67%7.98%
TIGAX with sales charge12.99%20.96%6.54%8.66%9.17%7.62%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR5.39%11.43%5.85%8.18%5.86%4.07%
A Shares (Incep. 2/1/2007) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
TIGAX without sales charge20.16%32.88%8.72%11.54%10.51%8.16%
TIGAX with sales charge14.77%26.91%7.07%10.51%10.00%7.80%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR7.27%17.54%7.33%10.16%6.38%4.23%
A Shares without sales charge
(Incep. 2/1/2007)
MSCI ACWI ex US Growth NTR
2008 -50.32% -45.61%
2009 44.81% 38.67%
2010 27.26% 14.45%
2011 -2.97% -14.20%
2012 21.87% 16.66%
2013 36.41% 15.49%
2014 -12.46% -2.65%
2015 6.33% -1.26%
2016 -5.05% 0.12%
2017 34.33% 32.01%
2018 -17.01% -14.43%
2019 25.90% 27.34%

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) 1.32%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 1.31%

Lipper Leader as of — Class A Shares

Consistent Return among 427 funds
Total Return among 427 funds
In the International Multi-Cap Growth category
The Fund rated a 4 for the three- and five-year periods and a 5 for the ten-year period for Consistent Return among 427, 354 and 270 funds, respectively. The Fund rated a 5 for the three-, five-, and ten-year periods for Total Return among 427, 355 and 270 funds, respectively.

Morningstar Rating

Overall Morningstar Rating among 420 Foreign 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, 4 stars, 4 stars and 5 stars among 420, 336 and 243 funds, as of 9/30/2020.

Dividends and Capital Gains — Class A Shares

Dividend (paid Dec 20, 2019) $0.00176
Capital Gains for 2018 paid Nov 15, 2018  
     Short-Term (per share) -
     Long-Term (per share) $0.74833
     Total (per share) $0.74833

Hypothetical Growth of $10,000 as of (Thornburg International Growth Fund vs. MSCI ACWI ex US Growth NTR)

A Shares with sales charge
27454.65930000
MSCI ACWI ex US Growth NTR
17305.34960000
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. 2/1/2007) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
TIGCX with sales charge16.56%24.70%7.36%8.85%8.83%7.21%
TIGCX without sales charge17.56%25.70%7.36%8.85%8.83%7.21%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR5.39%11.43%5.85%8.18%5.86%4.07%
C Shares (Incep. 2/1/2007) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
TIGCX with sales charge18.49%30.87%7.90%10.69%9.67%7.39%
TIGCX without sales charge19.49%31.87%7.90%10.69%9.67%7.39%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR7.27%17.54%7.33%10.16%6.38%4.23%
C Shares without sales charge
(Incep. 2/1/2007)
MSCI ACWI ex US Growth NTR
2008 -50.68% -45.61%
2009 44.49% 38.67%
2010 26.29% 14.45%
2011 -3.71% -14.20%
2012 20.86% 16.66%
2013 35.42% 15.49%
2014 -13.12% -2.65%
2015 5.54% -1.26%
2016 -5.79% 0.12%
2017 33.37% 32.01%
2018 -17.67% -14.43%
2019 24.96% 27.34%

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) 2.08%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 2.07%

Lipper Leader as of — Class C Shares

Total Return among 427 funds
In the International Multi-Cap Growth category
The Fund rated a 4 for the three-year period and a 5 for the five- and ten-year periods for Total Return among 427, 355 and 270 funds, respectively.

Morningstar Rating

Overall Morningstar Rating among 420 Foreign 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, 3 stars and 4 stars among 420, 336 and 243 funds, as of 9/30/2020.

Dividends and Capital Gains — Class C Shares

Dividend (paid Dec 20, 2019) $0.00000
Capital Gains for 2018 paid Nov 15, 2018  
     Short-Term (per share) -
     Long-Term (per share) $0.74833
     Total (per share) $0.74833

Hypothetical Growth of $10,000 as of (Thornburg International Growth Fund vs. MSCI ACWI ex US Growth NTR)

C Shares
26049.85540000
MSCI ACWI ex US Growth NTR
17305.34960000
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. 2/1/2007) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
TINGX18.60%27.07%8.54%10.07%10.11%8.49%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR5.39%11.43%5.85%8.18%5.86%4.07%
I Shares (Incep. 2/1/2007) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION
TINGX20.45%33.31%9.09%11.94%10.96%8.67%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR7.27%17.54%7.33%10.16%6.38%4.23%
I Shares (Incep. 2/1/2007) MSCI ACWI ex US Growth NTR
2008 -50.04% -45.61%
2009 45.75% 38.67%
2010 28.10% 14.45%
2011 -2.51% -14.20%
2012 22.45% 16.66%
2013 36.94% 15.49%
2014 -12.15% -2.65%
2015 6.84% -1.26%
2016 -4.70% 0.12%
2017 34.93% 32.01%
2018 -16.74% -14.43%
2019 26.32% 27.34%

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) 1.03%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 0.99%

Lipper Leader as of — Class I Shares

Consistent Return among 427 funds
Total Return among 427 funds
In the International Multi-Cap Growth category
The Fund rated a 4 for the three-year period and a 5 for the five- and ten-year periods for Consistent Return among 427, 354 and 270 funds, respectively. The Fund rated a 5 for the three-, five-, and ten-year periods for Total Return among 427, 355 and 270 funds, respectively.

Morningstar Rating

Overall Morningstar Rating among 420 Foreign 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, 4 stars, 4 stars and 5 stars among 420, 336 and 243 funds, as of 9/30/2020.

Dividends and Capital Gains — Class I Shares

Dividend (paid Dec 20, 2019) $0.07215
Capital Gains for 2018 paid Nov 15, 2018  
     Short-Term (per share) -
     Long-Term (per share) $0.74833
     Total (per share) $0.74833

Hypothetical Growth of $10,000 as of (Thornburg International Growth Fund vs. MSCI ACWI ex US Growth NTR)

I Shares
30645.19940000
MSCI ACWI ex US Growth NTR
17305.34960000
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

R3 Shares (Incep. 2/1/2008) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
TIGVX18.12%26.42%8.00%9.51%9.56%7.94%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR5.39%11.43%5.85%8.18%5.86%4.07%
R3 Shares (Incep. 2/1/2008) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
TIGVX20.01%32.61%8.53%11.37%10.39%8.11%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR7.27%17.54%7.33%10.16%6.38%4.23%
R3 Shares* (Incep. 2/1/2008) MSCI ACWI ex US Growth NTR
2008 -50.23% -45.61%
2009 44.98% 38.67%
2010 27.46% 14.45%
2011 -3.05% -14.20%
2012 21.88% 16.66%
2013 36.21% 15.49%
2014 -12.56% -2.65%
2015 6.25% -1.26%
2016 -5.16% 0.12%
2017 34.22% 32.01%
2018 -17.18% -14.43%
2019 25.66% 27.34%

* Since 2/1/2007.
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) 2.02%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 1.50%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 1.50%

Lipper Leader as of — Class R3 Shares

Total Return among 427 funds
In the International Multi-Cap Growth category
The Fund rated a 4 for the three-year period and a 5 for the five- and ten-year periods for Total Return among 427, 355 and 270 funds, respectively.

Morningstar Rating

Overall Morningstar Rating among 420 Foreign 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, 4 stars, 4 stars and 5 stars among 420, 336 and 243 funds, as of 9/30/2020.

Dividends and Capital Gains — Class R3 Shares

Dividend (paid Dec 20, 2019) $0.00000
Capital Gains for 2018 paid Nov 15, 2018  
     Short-Term (per share) -
     Long-Term (per share) $0.74833
     Total (per share) $0.74833

Hypothetical Growth of $10,000 as of (Thornburg International Growth Fund vs. MSCI ACWI ex US Growth NTR)

R3 Shares
28566.84850000
MSCI ACWI ex US Growth NTR
17305.34960000
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. 2/1/2008) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
TINVX18.19%26.50%8.10%9.61%9.68%8.04%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR5.39%11.43%5.85%8.18%5.86%4.07%
R4 Shares (Incep. 2/1/2008) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
TINVX20.07%32.73%8.63%11.48%10.52%8.22%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR7.27%17.54%7.33%10.16%6.38%4.23%
R4 Shares* (Incep. 2/1/2008) MSCI ACWI ex US Growth NTR
2008 -50.23% -45.61%
2009 45.10% 38.67%
2010 27.53% 14.45%
2011 -2.77% -14.20%
2012 21.94% 16.66%
2013 36.40% 15.49%
2014 -12.53% -2.65%
2015 6.42% -1.26%
2016 -5.12% 0.12%
2017 34.40% 32.01%
2018 -17.08% -14.43%
2019 25.81% 27.34%

* Since 2/1/2007.
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) 1.40%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 1.40%

Lipper Leader as of — Class R4 Shares

Consistent Return among 427 funds
Total Return among 427 funds
In the International Multi-Cap Growth category
The Fund rated a 4 for the three- and five-year periods and a 5 for the ten-year period for Consistent Return among 427, 354 and 270 funds, respectively. The Fund rated a 5 for the three-, five-, and ten-year periods for Total Return among 427, 355 and 270 funds, respectively.

Morningstar Rating

Overall Morningstar Rating among 420 Foreign 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, 4 stars, 4 stars and 5 stars among 420, 336 and 243 funds, as of 9/30/2020.

Dividends and Capital Gains — Class R4 Shares

Dividend (paid Dec 20, 2019) $0.00000
Capital Gains for 2018 paid Nov 15, 2018  
     Short-Term (per share) -
     Long-Term (per share) $0.74833
     Total (per share) $0.74833

Hypothetical Growth of $10,000 as of (Thornburg International Growth Fund vs. MSCI ACWI ex US Growth NTR)

R4 Shares
28960.89290000
MSCI ACWI ex US Growth NTR
17305.34960000
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. 2/1/2008) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
TINFX18.59%27.03%8.54%10.06%10.11%8.48%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR5.39%11.43%5.85%8.18%5.86%4.07%
R5 Shares (Incep. 2/1/2008) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
TINFX20.44%33.31%9.08%11.93%10.96%8.66%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR7.27%17.54%7.33%10.16%6.38%4.23%
R5 Shares* (Incep. 2/1/2008) MSCI ACWI ex US Growth NTR
2008 -49.99% -45.61%
2009 45.63% 38.67%
2010 28.13% 14.45%
2011 -2.51% -14.20%
2012 22.48% 16.66%
2013 36.91% 15.49%
2014 -12.14% -2.65%
2015 6.82% -1.26%
2016 -4.68% 0.12%
2017 34.92% 32.01%
2018 -16.74% -14.43%
2019 26.28% 27.34%

* Since 2/1/2007.
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) 1.29%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 0.99%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 0.99%

Lipper Leader as of — Class R5 Shares

Consistent Return among 427 funds
Total Return among 427 funds
In the International Multi-Cap Growth category
The Fund rated a 4 for the three-year period and a 5 for the five- and ten-year periods for Consistent Return among 427, 354 and 270 funds, respectively. The Fund rated a 5 for the three-, five-, and ten-year periods for Total Return among 427, 355 and 270 funds, respectively.

Morningstar Rating

Overall Morningstar Rating among 420 Foreign 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, 4 stars, 4 stars and 5 stars among 420, 336 and 243 funds, as of 9/30/2020.

Dividends and Capital Gains — Class R5 Shares

Dividend (paid Dec 20, 2019) $0.07188
Capital Gains for 2018 paid Nov 15, 2018  
     Short-Term (per share) -
     Long-Term (per share) $0.74833
     Total (per share) $0.74833

Hypothetical Growth of $10,000 as of (Thornburg International Growth Fund vs. MSCI ACWI ex US Growth NTR)

R5 Shares
30618.50960000
MSCI ACWI ex US Growth NTR
17305.34960000
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

R6 Shares (Incep. 2/1/2013) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
THGIX18.71%27.16%8.65%10.18%10.20%8.51%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR5.39%11.43%5.85%8.18%5.86%4.07%
R6 Shares (Incep. 2/1/2013) YTD 1-YR 3-YR 5-YR 10-YR INCEPTION*
THGIX20.56%33.42%9.20%12.04%11.04%8.69%
Benchmark (Since 2/1/2007)
MSCI ACWI ex US Growth NTR7.27%17.54%7.33%10.16%6.38%4.23%
R6 Shares* (Incep. 2/1/2013) MSCI ACWI ex US Growth NTR
2008 -50.06% -45.61%
2009 45.55% 38.67%
2010 27.92% 14.45%
2011 -2.47% -14.20%
2012 22.50% 16.66%
2013 37.01% 15.49%
2014 -12.05% -2.65%
2015 6.91% -1.26%
2016 -4.59% 0.12%
2017 35.04% 32.01%
2018 -16.64% -14.43%
2019 26.40% 27.34%

* Since 2/1/2007.
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 R6 Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus) 0.99%
Net Annual Operating Expenses (as reported in the most recent Prospectus) 0.89%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2020) 0.89%

Lipper Leader as of — Class R6 Shares

Consistent Return among 427 funds
Total Return among 427 funds
In the International Multi-Cap Growth category
The Fund rated a 4 for the three-year period and a 5 for the five-year period for Consistent Return among 427 and 354 funds, respectively. The Fund rated a 5 for the three- and five-year periods for Total Return among 427 and 355 funds, respectively.

Morningstar Rating

Overall Morningstar Rating among 420 Foreign Large Growth funds, based on risk-adjusted returns for class R6 shares, using a weighted average of the fund's three-, five- and ten-year ratings: respectively, 4 stars, 4 stars and 5 stars among 420, 336 and 243 funds, as of 9/30/2020.

Dividends and Capital Gains — Class R6 Shares

Dividend (paid Dec 20, 2019) $0.09508
Capital Gains for 2018 paid Nov 15, 2018  
     Short-Term (per share) -
     Long-Term (per share) $0.74833
     Total (per share) $0.74833

Hypothetical Growth of $10,000 as of (Thornburg International Growth Fund vs. MSCI ACWI ex US Growth NTR)

R6 Shares
30741.14100000
MSCI ACWI ex US Growth NTR
17305.34960000
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