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	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 (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 9/30/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

A Shares with sales charge	20986.63530000
MSCI AC World ex-U.S. Growth Index	14985.37370000

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	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 (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 9/30/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

C Shares	20077.40310000
MSCI AC World ex-U.S. Growth Index	14985.37370000

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	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)	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 9/30/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

I Shares	23346.35330000
MSCI AC World ex-U.S. Growth Index	14985.37370000

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^†	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)	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 9/30/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

R3 Shares	21885.24270000
MSCI AC World ex-U.S. Growth Index	14985.37370000

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^†	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)	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 9/30/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

R4 Shares	22166.00740000
MSCI AC World ex-U.S. Growth Index	14985.37370000

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^†	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)	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 9/30/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

R5 Shares	23325.32920000
MSCI AC World ex-U.S. Growth Index	14985.37370000

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^†	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)	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 9/30/2019 (Thornburg International Growth Fund vs. MSCI AC World ex-U.S. Growth Index)

R6 Shares	23397.84220000
MSCI AC World ex-U.S. Growth Index	14985.37370000

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

BEST INTERNATIONAL MULTI-CAP GROWTH FUND

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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