Performance [FIG]

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 charge	17.61%	6.51%	8.66%	5.13%	9.71%	6.64%
TIGAX with sales charge	12.31%	1.70%	6.99%	4.17%	9.22%	6.26%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	20.43%	16.66%	9.91%	5.69%	6.24%	3.51%

A Shares (Incep. 2/1/2007)	YTD	1-YR	3-YR	5-YR	10-YR	INCEPTION
TIGAX without sales charge	13.85%	-6.36%	6.28%	4.95%	9.28%	6.41%
TIGAX with sales charge	8.71%	-10.57%	4.65%	3.99%	8.78%	6.03%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	16.21%	2.03%	7.37%	4.86%	5.82%	3.25%

	A Shares without sales charge (Incep. 2/1/2007)	MSCI AC World ex-U.S. Growth Index
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%

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 9/30/2019)	1.32%

Morningstar Rating^™

Overall Morningstar Rating among 396 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, 2 stars, 3 stars and 5 stars among 396, 340 and 247 funds, as of 9/30/2019.

Dividends and Capital Gains — Class A Shares

Dividend (paid Dec 21, 2018)	$0.02330
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 10/31/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

A Shares with sales charge	21680.97410000
MSCI AC World ex-U.S. Growth Index	15530.22110000

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 without sales charge	16.87%	5.66%	7.84%	4.32%	8.88%	5.88%
TIGCX with sales charge	15.87%	4.66%	7.84%	4.32%	8.88%	5.88%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	20.43%	16.66%	9.91%	5.69%	6.24%	3.51%

C Shares (Incep. 2/1/2007)	YTD	1-YR	3-YR	5-YR	10-YR	INCEPTION
TIGCX without sales charge	13.22%	-7.04%	5.48%	4.16%	8.45%	5.66%
TIGCX with sales charge	12.22%	-7.94%	5.48%	4.16%	8.45%	5.66%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	16.21%	2.03%	7.37%	4.86%	5.82%	3.25%

	C Shares without sales charge (Incep. 2/1/2007)	MSCI AC World ex-U.S. Growth Index
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%

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 9/30/2019)	2.08%

Morningstar Rating^™

Overall Morningstar Rating among 396 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, 2 stars, 2 stars and 5 stars among 396, 340 and 247 funds, as of 9/30/2019.

Dividends and Capital Gains — Class C Shares

Dividend (paid Dec 21, 2018)	$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 10/31/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

C Shares	20724.08340000
MSCI AC World ex-U.S. Growth Index	15530.22110000

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
TINGX	17.90%	6.80%	9.05%	5.52%	10.19%	7.15%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	20.43%	16.66%	9.91%	5.69%	6.24%	3.51%

I Shares (Incep. 2/1/2007)	YTD	1-YR	3-YR	5-YR	10-YR	INCEPTION
TINGX	14.13%	-6.02%	6.67%	5.35%	9.76%	6.93%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	16.21%	2.03%	7.37%	4.86%	5.82%	3.25%

	I Shares (Incep. 2/1/2007)	MSCI AC World ex-U.S. Growth Index
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%

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)	0.99%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2019)	0.99%

Morningstar Rating^™

Overall Morningstar Rating among 396 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, 3 stars, 3 stars and 5 stars among 396, 340 and 247 funds, as of 9/30/2019.

Dividends and Capital Gains — Class I Shares

Dividend (paid Dec 21, 2018)	$0.10375
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 10/31/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

I Shares	24116.47700000
MSCI AC World ex-U.S. Growth Index	15530.22110000

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*
TIGVX^†	17.41%	6.29%	8.49%	4.99%	9.63%	6.61%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	20.43%	16.66%	9.91%	5.69%	6.24%	3.51%

R3 Shares (Incep. 2/1/2008)	YTD	1-YR	3-YR	5-YR	10-YR	INCEPTION*
TIGVX^†	13.71%	-6.50%	6.14%	4.83%	9.20%	6.38%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	16.21%	2.03%	7.37%	4.86%	5.82%	3.25%

	R3 Shares* (Incep. 2/1/2008)	MSCI AC World ex-U.S. Growth Index
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%

* 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)	1.98%
Net Annual Operating Expenses (as reported in the most recent Prospectus)	1.50%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2019)	1.50%

Morningstar Rating^™

Overall Morningstar Rating among 396 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, 2 stars, 3 stars and 5 stars among 396, 340 and 247 funds, as of 9/30/2019.

Dividends and Capital Gains — Class R3 Shares

Dividend (paid Dec 21, 2018)	$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 10/31/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

R3 Shares	22596.53890000
MSCI AC World ex-U.S. Growth Index	15530.22110000

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*
TINVX^†	17.55%	6.41%	8.60%	5.10%	9.75%	6.71%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	20.43%	16.66%	9.91%	5.69%	6.24%	3.51%

R4 Shares (Incep. 2/1/2008)	YTD	1-YR	3-YR	5-YR	10-YR	INCEPTION*
TINVX^†	13.81%	-6.39%	6.25%	4.93%	9.33%	6.49%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	16.21%	2.03%	7.37%	4.86%	5.82%	3.25%

	R4 Shares* (Incep. 2/1/2008)	MSCI AC World ex-U.S. Growth Index
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%

Fund Operating Expenses — Class R4 Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus)	1.88%
Net Annual Operating Expenses (as reported in the most recent Prospectus)	1.40%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2019)	1.40%

Morningstar Rating^™

Overall Morningstar Rating among 396 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, 2 stars, 3 stars and 5 stars among 396, 340 and 247 funds, as of 9/30/2019.

Dividends and Capital Gains — Class R4 Shares

Dividend (paid Dec 21, 2018)	$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 10/31/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

R4 Shares	22893.10230000
MSCI AC World ex-U.S. Growth Index	15530.22110000

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*
TINFX^†	17.89%	6.86%	9.04%	5.53%	10.18%	7.15%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	20.43%	16.66%	9.91%	5.69%	6.24%	3.51%

R5 Shares (Incep. 2/1/2008)	YTD	1-YR	3-YR	5-YR	10-YR	INCEPTION*
TINFX^†	14.09%	-6.05%	6.68%	5.35%	9.76%	6.92%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	16.21%	2.03%	7.37%	4.86%	5.82%	3.25%

	R5 Shares* (Incep. 2/1/2008)	MSCI AC World ex-U.S. Growth Index
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%

Fund Operating Expenses — Class R5 Shares

Gross Annual Operating Expenses (as reported in the most recent Prospectus)	1.25%
Net Annual Operating Expenses (as reported in the most recent Prospectus)	0.99%
Actual Annualized Operating Expenses (fiscal year to date, as of 9/30/2019)	0.99%

Morningstar Rating^™

Overall Morningstar Rating among 396 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, 3 stars, 3 stars and 5 stars among 396, 340 and 247 funds, as of 9/30/2019.

Dividends and Capital Gains — Class R5 Shares

Dividend (paid Dec 21, 2018)	$0.10117
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 10/31/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

R5 Shares	24103.19050000
MSCI AC World ex-U.S. Growth Index	15530.22110000

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*
THGIX^†	18.01%	6.94%	9.16%	5.63%	10.25%	7.17%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	20.43%	16.66%	9.91%	5.69%	6.24%	3.51%

R6 Shares (Incep. 2/1/2013)	YTD	1-YR	3-YR	5-YR	10-YR	INCEPTION*
THGIX^†	14.21%	-5.91%	6.80%	5.46%	9.82%	6.94%
Benchmark (Since 2/1/2007)
MSCI AC World ex-U.S. Growth Index	16.21%	2.03%	7.37%	4.86%	5.82%	3.25%

	R6 Shares* (Incep. 2/1/2013)	MSCI AC World ex-U.S. Growth Index
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%

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 9/30/2019)	0.89%

Morningstar Rating^™

Overall Morningstar Rating among 396 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, 3 stars, 3 stars and 5 stars among 396, 340 and 247 funds, as of 9/30/2019.

Dividends and Capital Gains — Class R6 Shares

Dividend (paid Dec 21, 2018)	$0.12660
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 10/31/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

R6 Shares	24175.66800000
MSCI AC World ex-U.S. Growth Index	15530.22110000

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

Related Resources

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Lipper Fund Awards are granted annually to the fund in each Lipper classification that consistently delivered the strongest risk-adjusted performance (calculated with dividends reinvested and without sales charge). Fund Classification Awards are given for three-year, five-year, and ten-year periods. Thornburg did not win the award for any other time period. Past performance does not guarantee future results.

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