Summit Fund

An unconstrained approach to growing real wealth

A nimble portfolio of global equities, fixed income securities and commodities-related investments, Thornburg Summit Fund seeks to build real wealth over time by providing a mix of capital appreciation and current income that exceeds the rate of inflation.

With a global mandate and no limitations on the minimum or maximum that may be invested in a particular asset class, Summit Fund is truly unconstrained in its search for attractive investment opportunities.

Built for a variety of market environments

Summit Fund will normally invest in long positions of equity and fixed income securities, though it may also invest a significant amount of its assets in short positions, commodity-related investments, derivatives, currencies and cash or cash equivalents.

This flexibility to invest in the securities that we believe represent the best value and opportunity at a given point in time helps enable the Fund to achieve its investment goal across a wide variety of market environments.

A solution for long term investors

Investors looking for inflation protection with a focus on risk-adjusted returns may consider Thornburg Summit Fund as a solution.

Important Information

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. Investments in the Fund 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.

Portfolio attributes and holdings can and do vary. Weights are percent of total portfolio, unless otherwise noted.

Short Sale Risk – A short sale involves the sale by the Fund of a security that the Fund has borrowed, but does not own, in anticipation of purchasing that same security at a lower price in the future in order to close the short position. If the value of the borrowed security increases between the date the Fund enters into the short sale and the date that the Fund buys that security to cover its short position, the Fund may experience a loss.

Derivatives Risk – The Fund’s investments in futures, interest rate swaps, and credit default swaps involve the risks associated with the securities or other assets underlying those derivatives, including the risk of changes in the value of the underlying assets between the date that the Fund enters into the derivatives transaction and the date that the Fund closes out that transaction. The Fund’s investments in futures, interest rate swaps, and credit default swaps also involve the risk that the other party to the transaction will be unable or unwilling to perform its obligations to the Fund, that the Fund will be unable to sell or close its positions in such derivatives or will be delayed in doing so, and that the Fund will have difficulty valuing such derivatives.

Commodities-Related Investment Risk – Investments that expose the Fund to the commodities market, such as commodity-linked derivatives instruments or exchange traded funds or other investment vehicles that invest in commodities, may subject the Fund to greater volatility than investments in other securities. The value of a commodity-related investment may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, risks affecting derivatives when used to obtain commodities exposure, or factors affecting a particular industry or commodity.

Thornburg mutual funds are distributed by Thornburg Securities Corporation.

Please see our glossary for a definition of terms.