At Thornburg Investment Management, each of our portfolios — whether a short-duration laddered bond fund or a flexible global equity fund — is guided by the same set of investment principles: we focus on the fundamentals, invest for the long term, and go wherever we see value. Third-party recognition reflects the performance that's borne of those investment principles.

LIPPER FUND AWARDS

Lipper Awards are granted annually to the funds in each Lipper classification that have excelled in delivering consistently strong risk-adjusted performance (calculated with dividends reinvested and without sales charge).

Best Short-Intermediate Municipal Debt Fund - seven Years in a Row

Thornburg Limited Term Municipal Fund

2017
Class I shares for the 10-year period ended 11/30/16, among 41 funds.

2016
Class I shares for the 10-year period ended 11/30/15, among 39 funds.

2015
Class I shares for the 10-year period ended 11/30/14, among 33 funds.

2014
Class I shares for the 10-year period ended 11/30/13, among 29 funds.

2013
Class I shares for the five-year period ended 11/30/12, among 31 funds
Class I shares for the ten-year period ended 11/30/12, among 25 funds

2012
Class I shares for the five-year period ended 11/30/11, among 30 funds.
Class I shares for the 10-year period ended 11/30/11, among 23 funds.

2011
Class I shares for the 10-year period ended 12/31/10, among 22 funds.

Best Short-Intermediate U.S. Government Fund

Thornburg Limited Term U.S. Government Fund

2017
Class I shares for the three-year period ended 11/30/16, among 25 funds.

2006
Class I shares for the five-year period ended 12/31/05, among 66 funds.

2005
Class I shares for the three-year period ended 12/31/04, among 74 funds.

2004
Class I shares for the one-year period ended 12/31/03, among 74 funds.

Best International Multi-Cap Growth Fund

Thornburg International Growth Fund

2015
Class I shares for the five-year period ended 11/30/14, among 300 funds.

2014
Class I shares for the three-year period ended 11/30/13, among 312 funds.
Class I shares for the five-year period ended 11/30/13, among 276 funds.

2013
Class I shares for the three-year period ended 11/30/12, among 264 funds.
Class I shares for the five-year period ended 11/30/12, among 205 funds.

Best Multi-Cap Growth Fund

Thornburg Core Growth Fund

2014
Class R5 shares for the three-year period ended 11/30/13, among 432 funds.

2008
Class A shares for the five-year period ended 12/31/07, among 332 funds.

2007
Class I shares for the three-year period ended 12/31/06, among 371 funds.
Class A shares for the five-year period ended 12/31/06, among 294 funds.

2006
Class A shares for the three-year period ended 12/31/05, among 340 funds.

2004
Class A shares for the three-year period ended 12/31/03, among 287 funds.

Best New York Intermediate Municipal Debt Fund

Thornburg New York Intermediate Municipal Fund

2014
Class I shares for the three-year period ended 11/30/13, among 31 funds.

Best Fixed Income Funds Family

Best Large Company Fund

2012
For the three-year period ended 11/30/11, among 41 firms.

2008
For the three-year period ended 12/31/07, among 41 firms.

Best International Large-Cap Growth Fund

Thornburg International Value Fund

2012
Class I shares for the 10-year period ended 11/30/11, among 113 funds.

Best Short-Intermediate Investment Grade Debt Fund

Thornburg Limited Term Income Fund

2011
Class I shares for the 10-year period ended 12/31/10, among 82 funds.

Best Mixed-Asset Target Allocation Growth Fund

Thornburg Investment Income Builder Fund

2008
Class I shares for the three-year period ended 12/31/07, among 510 funds.

 

Lipper fund classification awards are given for the three-year, five-year, and 10-year periods. Fund family awards are issued for the three-year period only. Thornburg did not win the awards for any time periods or years other than those listed above. Only fund families with at least five bond funds were eligible for the Best Fixed Income Funds Manager Award. Lipper’s Large Company universe was comprised of fund families with more than $40 billion in total net assets for the 2012 award and more than $28 billion for the 2008 award.

Past performance does not guarantee future results.

Important Information
Before investing, carefully consider the Fund’s investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit our literature center. Read them carefully before investing.

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments outside the United States, especially in emerging markets, including currency fluctuations, illiquidity, volatility, and political and economic risks. Investments in small- and mid-capitalization companies may increase the risk of greater price fluctuations. Portfolios investing in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The value of bonds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. This effect is more pronounced for longer-term bonds. Unlike bonds, bond funds have ongoing fees and expenses. Investments in mortgage backed securities (MBS) may bear additional risk. Investments in lower rated and unrated bonds may be more sensitive to default, downgrades, and market volatility; these investments may also be less liquid than higher rated bonds. Investments in derivatives are subject to the risks associated with the securities or other assets underlying the pool of securities, including illiquidity and difficulty in valuation. A short position will lose value as the security's price increases. Theoretically, the loss on a short sale can be unlimited. Investments in the Funds are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

Class I shares may not be available to all investors. Minimum investments for the I share class may be higher than those for other classes.

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Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities Corporation.

Thornburg Investment Management, Inc. mutual funds are sold through investment professionals including investment advisors, brokerage firms, bank trust departments, trust companies and certain other financial intermediaries. Thornburg Securities Corporation (TSC) does not act as broker of record for investors.