Small/Mid Cap Core Fund

The Flexibility to Seek Small/Mid Cap Companies Broadly

Thornburg Small/Mid Cap Core Fund is a bottom-up, fundamentals driven, and focused portfolio that invests primarily in US small/mid cap stocks across the style spectrum. The Fund seeks companies with consistent earnings to deliver attractive risk-adjusted returns versus the benchmark Russell 2500 Index.

“We search for companies with attractive business models and promising growth prospects. Our disciplined approach to valuation should result in a diversified portfolio which generates attractive risk-adjusted returns through a market cycle.”

— Steven Klopukh

Bottom-Up, Fundamentals Driven

We believe that the Small/Mid Cap universe provides us a wide opportunity set that will allow for high conviction stock selection to drive returns. In order to facilitate this mission, we conduct fundamental analysis on all the companies we own while maintaining a disciplined approach to portfolio construction and risk management.

Thornburg’s Three-Basket Construct

Basic Value: Companies generally operating in mature or cyclical industries and which generally exhibit more economic sensitivity and/or higher volatility in earnings and cash flow.

Consistent Earners: Companies which generally exhibit predictable growth and profitability, and consistent cash flow.

Emerging Franchise:  Companies with the potential to grow at a high rate due to an emerging product or service that is establishing a new market and/or taking share from existing participants.

Important Information