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THOIX

Thornburg Global Opportunities Fund

Morningstar Rating • Info

Overall Morningstar Rating among 296 Global Large-Stock Blend funds, based on risk-adjusted returns for class I shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 5 stars, 5 stars and 5 stars among 296, 291 and 219 funds, as of 31 Aug 2026.

As of 31 Aug 2026

Fund Assets

$1.9 B

As of 31 Aug 2026

NAV

$54.23

As of 18 Sep 2026

Change

$-0.37

As of 18 Sep 2026

YTD NAV Performance

13.57%

As of 18 Sep 2026

Asset Category:

Global Equity

Fund Benchmark:

MSCI ACWI Index

Portfolio Managers

Brian McMahon

Vice Chairman, Chief Investment Strategist, Portfolio Manager and Managing Director

Miguel Oleaga

Portfolio Manager and Managing Director

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

Celebrating 20 Years

Thornburg Global Opportunities Fund

Two decades. One consistent philosophy.

A world of opportunity.

Hear what this milestone means to Portfolio Manager Miguel Oleaga.

Overview

Overview

Why Invest in This Fund?

A flexible, focused equity portfolio seeking investment opportunities from around the globe and across market capitalizations.
A proven fundamental research process to identify and select quality, undervalued businesses with a defined path to success and value creation.
The fund seeks to outperform global equity markets over a full market cycle.

Investment Objective

The fund’s goal is to provide investors with long-term capital appreciation by investing in equity and debt securities of all types from issuers around the world.

Investment Approach

The fund has the flexibility to seek investment opportunities from around the world and across market capitalizations. It employs a fundamental, bottom-up investment process to identify companies that we believe have quality business models, trading at a discount to long-term intrinsic value, and have a defined path to success. The portfolio typically holds 30-40 securities and is diversified across countries and sectors.

Related Content

Global Equity

Quality Without Dogma: Why Valuation Still Matters

Global Equity

Signal Over Noise: A Conversation on Global Markets

Global Equity

Hyperscalers at the Inflection

Performance

Performance

Returns

(As of 30 Jun 2026)

YTD

1y

3y

5y

10y

Inception

Total Return (%)

9.19

29.49

23.63

13.05

13.63

11.44

MSCI ACWI Index (%)

11.25

23.67

19.70

10.98

12.78

8.43

Morningstar Category Avg. (%)

9.01

18.9

16.18

8.77

11.05

—

Morningstar Quartile

—

1

1

1

1

—

Morningstar Quartile # of Funds

—

324

293

287

211

—

YTD

1y

3y

5y

10y

Inception

Total Return (%)

16.02

28.90

25.38

14.17

13.80

11.68

MSCI ACWI Index (%)

14.31

22.35

20.48

10.88

12.58

8.50

Morningstar Category Avg. (%)

12.37

18.83

17.25

8.84

10.98

—

Morningstar Quartile

—

1

1

1

1

—

Morningstar Quartile # of Funds

—

327

296

291

219

—

YTD

1y

3y

5y

10y

Inception

Total Return (%)

9.19

29.49

88.97

84.69

258.74

765.55

MSCI ACWI Index (%)

11.25

23.67

71.50

68.38

233.01

401.73

YTD

1y

3y

5y

10y

Inception

Total Return (%)

16.02

28.90

97.09

93.98

264.32

819.67

MSCI ACWI Index (%)

14.31

22.35

74.88

67.62

226.93

415.52

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Total Return (%)

4.03

22.03

-20.67

28.76

22.66

14.75

-10.08

16.25

13.08

41.08

MSCI ACWI Index (%)

7.86

23.97

-9.42

26.60

16.25

18.54

-18.36

22.20

17.49

22.34

Source: Confluence

Periods less than one year are not annualized.

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than quoted.

The maximum sales charge for the equity funds' A shares is 4.50%. C shares include a 1% contingent deferred sales charge (CDSC) for the first year only. There is no up-front sales charge for class I or R shares.

Morningstar quartile ranking for Global Large-Stock Blend category is based on total returns before sales charges.

Prior to inception of R3, R4 and R5 share classes, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Share class inception dates: A, C and I shares, 28 July 2006; R3, R4 and R5 shares, 1 Feb 2008; R6 shares, 10 Apr 2017.

Fund Fees

Fund Fees

(As of 1 Feb 2026)

Gross Expense Ratio (%)

1.07

Net Expense Ratio (%)

0.99

Thornburg Investment Management and/or Thornburg Securities LLC have contractually agreed to waive fees and reimburse expenses through at least 1 February 2027, for some of the share classes; these are reflected in the net expense ratio. For more detailed information on fund expenses and waivers/reimbursements, please see the fund's prospectus.

Expense Ratios - Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 31 Aug 2026)

(Hypothetical Growth of $10,000 vs MSCI ACWI Index)

Categories,I Shares,MSCI ACWI Index                        
2025-08-31,10000,10000
2025-09-30,10433,10362
2025-10-31,10494,10594
2025-11-30,10785,10593
2025-12-31,11110,10704
2026-01-31,11885,11021
2026-02-28,12213,11163
2026-03-31,11462,10361
2026-04-30,12118,11415
2026-05-31,12586,12004
2026-06-30,12132,11908
2026-07-31,12623,11917
2026-08-31,12890,12235

Categories,I Shares,MSCI ACWI Index                        
2023-08-31,10000,10000
2023-09-30,9742,9587
2023-10-31,9282,9298
2023-11-30,9957,10156
2023-12-31,10648,10644
2024-01-31,10595,10707
2024-02-29,10875,11166
2024-03-31,11539,11517
2024-04-30,11514,11137
2024-05-31,11942,11589
2024-06-30,11958,11847
2024-07-31,12125,12038
2024-08-31,12219,12344
2024-09-30,12572,12631
2024-10-31,12226,12347
2024-11-30,12189,12809
2024-12-31,12041,12506
2025-01-31,12796,12926
2025-02-28,13046,12848
2025-03-31,12910,12340
2025-04-30,12926,12455
2025-05-31,13702,13171
2025-06-30,14324,13763
2025-07-31,14647,13949
2025-08-31,15290,14294
2025-09-30,15952,14812
2025-10-31,16045,15143
2025-11-30,16490,15141
2025-12-31,16987,15299
2026-01-31,18172,15753
2026-02-28,18674,15955
2026-03-31,17525,14810
2026-04-30,18528,16316
2026-05-31,19243,17158
2026-06-30,18549,17020
2026-07-31,19300,17033
2026-08-31,19709,17488

Categories,I Shares,MSCI ACWI Index                        
2021-08-31,10000,10000
2021-09-30,9684,9587
2021-10-31,9904,10076
2021-11-30,9570,9834
2021-12-31,10026,10227
2022-01-31,9981,9725
2022-02-28,9697,9474
2022-03-31,9776,9679
2022-04-30,9206,8904
2022-05-31,9422,8914
2022-06-30,8507,8163
2022-07-31,8734,8733
2022-08-31,8571,8412
2022-09-30,7838,7606
2022-10-31,8355,8065
2022-11-30,9323,8691
2022-12-31,9015,8349
2023-01-31,9749,8947
2023-02-28,9471,8691
2023-03-31,9395,8959
2023-04-30,9468,9088
2023-05-31,9269,8990
2023-06-30,9661,9512
2023-07-31,10318,9860
2023-08-31,9842,9585
2023-09-30,9588,9189
2023-10-31,9135,8912
2023-11-30,9800,9735
2023-12-31,10480,10202
2024-01-31,10427,10262
2024-02-29,10703,10703
2024-03-31,11357,11039
2024-04-30,11332,10675
2024-05-31,11754,11108
2024-06-30,11769,11355
2024-07-31,11933,11539
2024-08-31,12026,11832
2024-09-30,12373,12106
2024-10-31,12032,11835
2024-11-30,11997,12277
2024-12-31,11850,11987
2025-01-31,12594,12389
2025-02-28,12840,12314
2025-03-31,12706,11828
2025-04-30,12722,11938
2025-05-31,13485,12625
2025-06-30,14098,13191
2025-07-31,14416,13370
2025-08-31,15048,13700
2025-09-30,15700,14197
2025-10-31,15792,14514
2025-11-30,16230,14513
2025-12-31,16719,14664
2026-01-31,17885,15099
2026-02-28,18379,15293
2026-03-31,17248,14195
2026-04-30,18235,15639
2026-05-31,18939,16446
2026-06-30,18256,16314
2026-07-31,18995,16326
2026-08-31,19398,16762

Categories,I Shares,MSCI ACWI Index                        
2016-08-31,10000,10000
2016-09-30,10153,10061
2016-10-31,10271,9890
2016-11-30,10482,9966
2016-12-31,10732,10181
2017-01-31,11112,10459
2017-02-28,11169,10753
2017-03-31,11507,10884
2017-04-30,11944,11054
2017-05-31,12394,11298
2017-06-30,12272,11349
2017-07-31,12694,11667
2017-08-31,12509,11711
2017-09-30,12722,11937
2017-10-31,12976,12185
2017-11-30,12751,12421
2017-12-31,13096,12622
2018-01-31,13597,13334
2018-02-28,12928,12774
2018-03-31,12381,12500
2018-04-30,12702,12620
2018-05-31,12739,12635
2018-06-30,12463,12567
2018-07-31,12722,12946
2018-08-31,12545,13048
2018-09-30,12356,13104
2018-10-31,11272,12122
2018-11-30,11198,12300
2018-12-31,10389,11433
2019-01-31,11441,12336
2019-02-28,11571,12666
2019-03-31,11685,12825
2019-04-30,12306,13258
2019-05-31,11027,12472
2019-06-30,11770,13289
2019-07-31,11859,13327
2019-08-31,11251,13011
2019-09-30,11681,13285
2019-10-31,12200,13649
2019-11-30,12729,13982
2019-12-31,13378,14474
2020-01-31,12940,14314
2020-02-29,12390,13158
2020-03-31,10063,11382
2020-04-30,11317,12601
2020-05-31,11867,13149
2020-06-30,12262,13569
2020-07-31,13223,14287
2020-08-31,14030,15161
2020-09-30,13657,14672
2020-10-31,13601,14316
2020-11-30,15414,16080
2020-12-31,16410,16827
2021-01-31,16382,16751
2021-02-28,17123,17138
2021-03-31,17529,17596
2021-04-30,18367,18366
2021-05-31,18569,18651
2021-06-30,18565,18897
2021-07-31,18491,19027
2021-08-31,18781,19504
2021-09-30,18187,18698
2021-10-31,18602,19652
2021-11-30,17973,19179
2021-12-31,18830,19946
2022-01-31,18746,18967
2022-02-28,18213,18477
2022-03-31,18361,18877
2022-04-30,17290,17366
2022-05-31,17696,17386
2022-06-30,15977,15921
2022-07-31,16404,17033
2022-08-31,16098,16406
2022-09-30,14721,14835
2022-10-31,15692,15730
2022-11-30,17510,16950
2022-12-31,16932,16283
2023-01-31,18309,17450
2023-02-28,17788,16950
2023-03-31,17645,17473
2023-04-30,17782,17724
2023-05-31,17409,17534
2023-06-30,18145,18552
2023-07-31,19379,19232
2023-08-31,18485,18694
2023-09-30,18007,17921
2023-10-31,17157,17382
2023-11-30,18405,18987
2023-12-31,19683,19899
2024-01-31,19584,20015
2024-02-29,20102,20874
2024-03-31,21330,21530
2024-04-30,21283,20819
2024-05-31,22075,21665
2024-06-30,22104,22147
2024-07-31,22412,22504
2024-08-31,22587,23076
2024-09-30,23239,23612
2024-10-31,22599,23082
2024-11-30,22531,23945
2024-12-31,22257,23379
2025-01-31,23654,24163
2025-02-28,24115,24018
2025-03-31,23863,23069
2025-04-30,23894,23284
2025-05-31,25328,24622
2025-06-30,26478,25728
2025-07-31,27075,26077
2025-08-31,28263,26721
2025-09-30,29487,27689
2025-10-31,29660,28308
2025-11-30,30482,28305
2025-12-31,31401,28601
2026-01-31,33591,29449
2026-02-28,34518,29827
2026-03-31,32394,27685
2026-04-30,34248,30502
2026-05-31,35570,32075
2026-06-30,34288,31818
2026-07-31,35675,31842
2026-08-31,36432,32693

Categories,I Shares,MSCI ACWI Index                        
2006-07-28,10000,10000
2006-07-31,10000,9994
2006-08-31,10209,10253
2006-09-30,10779,10373
2006-10-31,11558,10762
2006-11-30,12026,11066
2006-12-31,12602,11313
2007-01-31,12924,11425
2007-02-28,13068,11365
2007-03-31,13611,11593
2007-04-30,14297,12107
2007-05-31,15246,12468
2007-06-30,15594,12431
2007-07-31,15984,12241
2007-08-31,16162,12207
2007-09-30,17085,12863
2007-10-31,17941,13365
2007-11-30,16883,12774
2007-12-31,16700,12632
2008-01-31,15484,11598
2008-02-29,15685,11630
2008-03-31,14959,11460
2008-04-30,15703,12099
2008-05-31,16193,12288
2008-06-30,14825,11279
2008-07-31,14498,10986
2008-08-31,13907,10750
2008-09-30,11876,9406
2008-10-31,9112,7542
2008-11-30,8326,7047
2008-12-31,8709,7302
2009-01-31,7712,6678
2009-02-28,7025,6024
2009-03-31,7474,6521
2009-04-30,8663,7290
2009-05-31,9925,8017
2009-06-30,10185,7972
2009-07-31,11001,8673
2009-08-31,11540,8984
2009-09-30,12370,9396
2009-10-31,11955,9251
2009-11-30,12153,9631
2009-12-31,12772,9831
2010-01-31,12601,9406
2010-02-28,12885,9526
2010-03-31,13947,10138
2010-04-30,14250,10155
2010-05-31,12990,9193
2010-06-30,12289,8909
2010-07-31,13113,9634
2010-08-31,12374,9298
2010-09-30,13418,10187
2010-10-31,13773,10555
2010-11-30,13658,10320
2010-12-31,14797,11076
2011-01-31,15194,11250
2011-02-28,15939,11577
2011-03-31,15765,11566
2011-04-30,16771,12039
2011-05-31,16926,11780
2011-06-30,16363,11595
2011-07-31,16149,11406
2011-08-31,14855,10573
2011-09-30,12841,9575
2011-10-31,14582,10600
2011-11-30,13970,10283
2011-12-31,13721,10262
2012-01-31,14672,10859
2012-02-29,15444,11405
2012-03-31,15523,11481
2012-04-30,15256,11350
2012-05-31,13949,10332
2012-06-30,14147,10842
2012-07-31,14543,10991
2012-08-31,15038,11230
2012-09-30,15899,11584
2012-10-31,15969,11506
2012-11-30,15919,11654
2012-12-31,16766,11917
2013-01-31,17526,12467
2013-02-28,17556,12465
2013-03-31,18107,12692
2013-04-30,18327,13055
2013-05-31,18868,13019
2013-06-30,18167,12639
2013-07-31,18738,13244
2013-08-31,18948,12968
2013-09-30,19887,13638
2013-10-31,20713,14186
2013-11-30,21136,14387
2013-12-31,21586,14635
2014-01-31,21566,14049
2014-02-28,22718,14728
2014-03-31,22445,14794
2014-04-30,23032,14934
2014-05-31,24083,15252
2014-06-30,24609,15539
2014-07-31,24215,15351
2014-08-31,24741,15690
2014-09-30,24140,15181
2014-10-31,24851,15288
2014-11-30,25845,15544
2014-12-31,25667,15244
2015-01-31,25474,15005
2015-02-28,27475,15841
2015-03-31,27393,15595
2015-04-30,27627,16048
2015-05-31,28500,16027
2015-06-30,27475,15650
2015-07-31,28358,15786
2015-08-31,27018,14703
2015-09-30,24906,14171
2015-10-31,25921,15283
2015-11-30,26246,15157
2015-12-31,26041,14883
2016-01-31,24407,13986
2016-02-29,24367,13890
2016-03-31,25470,14919
2016-04-30,25194,15139
2016-05-31,25827,15158
2016-06-30,24127,15066
2016-07-31,24906,15716
2016-08-31,25244,15769
2016-09-30,25630,15865
2016-10-31,25928,15596
2016-11-30,26462,15714
2016-12-31,27092,16054
2017-01-31,28050,16493
2017-02-28,28194,16956
2017-03-31,29049,17163
2017-04-30,30152,17430
2017-05-31,31286,17815
2017-06-30,30979,17896
2017-07-31,32043,18396
2017-08-31,31578,18467
2017-09-30,32116,18824
2017-10-31,32757,19215
2017-11-30,32188,19587
2017-12-31,33059,19902
2018-01-31,34325,21025
2018-02-28,32634,20142
2018-03-31,31254,19711
2018-04-30,32063,19899
2018-05-31,32157,19924
2018-06-30,31462,19816
2018-07-31,32115,20414
2018-08-31,31669,20574
2018-09-30,31192,20664
2018-10-31,28454,19115
2018-11-30,28267,19395
2018-12-31,26227,18029
2019-01-31,28880,19452
2019-02-28,29211,19973
2019-03-31,29498,20224
2019-04-30,31065,20907
2019-05-31,27836,19666
2019-06-30,29712,20954
2019-07-31,29935,21015
2019-08-31,28401,20517
2019-09-30,29488,20949
2019-10-31,30799,21522
2019-11-30,32134,22047
2019-12-31,33771,22824
2020-01-31,32665,22572
2020-02-29,31278,20749
2020-03-31,25404,17947
2020-04-30,28568,19870
2020-05-31,29956,20734
2020-06-30,30953,21397
2020-07-31,33380,22528
2020-08-31,35418,23907
2020-09-30,34475,23136
2020-10-31,34334,22574
2020-11-30,38910,25356
2020-12-31,41424,26534
2021-01-31,41354,26413
2021-02-28,43226,27025
2021-03-31,44249,27747
2021-04-30,46365,28960
2021-05-31,46876,29411
2021-06-30,46865,29798
2021-07-31,46679,30003
2021-08-31,47411,30754
2021-09-30,45911,29484
2021-10-31,46958,30989
2021-11-30,45372,30243
2021-12-31,47534,31452
2022-01-31,47321,29908
2022-02-28,45976,29135
2022-03-31,46349,29766
2022-04-30,43646,27384
2022-05-31,44671,27416
2022-06-30,40331,25105
2022-07-31,41409,26858
2022-08-31,40637,25869
2022-09-30,37162,23393
2022-10-31,39612,24804
2022-11-30,44202,26728
2022-12-31,42742,25677
2023-01-31,46219,27517
2023-02-28,44903,26728
2023-03-31,44543,27552
2023-04-30,44889,27948
2023-05-31,43947,27649
2023-06-30,45803,29254
2023-07-31,48920,30325
2023-08-31,46662,29478
2023-09-30,45457,28259
2023-10-31,43310,27409
2023-11-30,46461,29939
2023-12-31,49687,31377
2024-01-31,49437,31561
2024-02-29,50745,32916
2024-03-31,53845,33949
2024-04-30,53727,32829
2024-05-31,55725,34162
2024-06-30,55799,34923
2024-07-31,56577,35486
2024-08-31,57018,36388
2024-09-30,58663,37233
2024-10-31,57047,36397
2024-11-30,56877,37758
2024-12-31,56185,36865
2025-01-31,59711,38102
2025-02-28,60876,37872
2025-03-31,60239,36376
2025-04-30,60317,36716
2025-05-31,63936,38826
2025-06-30,66841,40569
2025-07-31,68347,41120
2025-08-31,71345,42135
2025-09-30,74437,43662
2025-10-31,74872,44638
2025-11-30,76948,44633
2025-12-31,79267,45099
2026-01-31,84795,46436
2026-02-28,87136,47033
2026-03-31,81774,43655
2026-04-30,86455,48097
2026-05-31,89792,50578
2026-06-30,86555,50173
2026-07-31,90057,50211
2026-08-31,91967,51552

The Hypothetical Growth graph compares a hypothetical 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.

Distributions

            Categories,Total ($)
            2006-11-17,0.15686
2006-12-31,0.01075
2007-11-19,0.53883
2007-12-31,0.08122
2008-06-30,0.14744
2008-12-31,0.32995
2009-06-30,0.16349
2009-09-30,0.19092
2009-12-31,0.07706
2010-09-30,0.15116
2010-12-31,0.15882
2011-06-30,0.08475
2011-12-31,0.24736
2012-09-30,0.00000
2012-12-31,0.18371
2013-09-30,0.12965
2013-12-31,0.07554
2014-09-30,0.08706
2014-12-31,0.01462
2015-12-31,0.14985
2016-06-30,0.06467
2016-09-30,0.06671
2016-12-31,0.08397
2017-03-31,0.02942
2017-06-30,0.06224
2017-09-30,0.02047
2017-12-31,0.10180
2018-12-31,0.65217
2019-11-14,0.28174
2019-12-31,0.23163
2020-11-19,2.30329
2020-12-31,0.08510
2021-11-18,4.54624
2021-12-31,0.59076
2022-11-17,0.78534
2022-12-31,0.44930
2023-11-16,1.19547
2023-12-31,0.73259
2024-11-21,0.97178
2024-12-31,1.09041
2025-11-20,2.45657
2025-12-31,0.60968

            Ex-Date, Payable Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
2006-11-17,1163721600,0.15686,0,0.15686,0.00000
2006-12-26,1167523200,0.01075,0.01075,0,0
2007-11-19,1195430400,0.53883,0,0.48583,0.05300
2007-12-26,1199059200,0.08122,0.08122,0,0
2008-06-26,1214784000,0.14744,0.14744,0,0
2008-12-26,1230681600,0.32995,0.32995,0,0
2009-06-26,1246320000,0.16349,0.16349,0,0
2009-09-25,1254268800,0.19092,0.19092,0,0
2009-12-24,1262217600,0.07706,0.07706,0,0
2010-09-24,1285804800,0.15116,0.15116,0,0
2010-12-27,1293753600,0.15882,0.15882,0,0
2011-06-24,1309392000,0.08475,0.08475,0,0
2011-12-23,1325289600,0.24736,0.24736,0,0
2012-09-28,1348963200,0.00000,0.00000,0,0
2012-12-24,1356912000,0.18371,0.18371,0,0
2013-09-24,1380499200,0.12965,0.12965,0,0
2013-12-24,1388448000,0.07554,0.07554,0,0
2014-09-24,1412035200,0.08706,0.08706,0,0
2014-12-24,1419984000,0.01462,0.01462,0,0
2015-12-24,1451520000,0.14985,0.14985,0,0
2016-06-24,1467244800,0.06467,0.06467,0,0
2016-09-26,1475193600,0.06671,0.06671,0,0
2016-12-23,1483142400,0.08397,0.08397,0,0
2017-03-24,1490918400,0.02942,0.02942,0,0
2017-06-23,1498780800,0.06224,0.06224,0,0
2017-09-22,1506729600,0.02047,0.02047,0,0
2017-12-22,1514678400,0.10180,0.10180,0,0
2018-12-21,1546214400,0.65217,0.65217,0,0
2019-11-14,1573689600,0.28174,0,0.00000,0.28174
2019-12-20,1577750400,0.23163,0.23163,0,0
2020-11-19,1605744000,2.30329,0,0.68813,1.61516
2020-12-17,1609372800,0.08510,0.08510,0,0
2021-11-18,1637193600,4.54624,0,0.00000,4.54624
2021-12-16,1640908800,0.59076,0.59076,0,0
2022-11-17,1668643200,0.78534,0,0.00000,0.78534
2022-12-15,1672444800,0.44930,0.44930,0,0
2023-11-16,1700092800,1.19547,0,0.17333,1.02214
2023-12-14,1703980800,0.73259,0.73259,0,0
2024-11-21,1732147200,0.97178,0,0.06433,0.90745
2024-12-19,1735603200,1.09041,1.09041,0,0
2025-11-20,1763596800,2.45657,0,0.00000,2.45657
2025-12-18,1767139200,0.60968,0.60968,0,0

Distributions

(As of 18 Dec 2025)

Ex-Date

Payable Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

17 Nov 2006

17 Nov 2006

0.15686

—

0.15686

0.00000

26 Dec 2006

31 Dec 2006

0.01075

0.01075

—

—

19 Nov 2007

19 Nov 2007

0.53883

—

0.48583

0.05300

26 Dec 2007

31 Dec 2007

0.08122

0.08122

—

—

26 Jun 2008

30 Jun 2008

0.14744

0.14744

—

—

26 Dec 2008

31 Dec 2008

0.32995

0.32995

—

—

26 Jun 2009

30 Jun 2009

0.16349

0.16349

—

—

25 Sep 2009

30 Sep 2009

0.19092

0.19092

—

—

24 Dec 2009

31 Dec 2009

0.07706

0.07706

—

—

24 Sep 2010

30 Sep 2010

0.15116

0.15116

—

—

27 Dec 2010

31 Dec 2010

0.15882

0.15882

—

—

24 Jun 2011

30 Jun 2011

0.08475

0.08475

—

—

23 Dec 2011

31 Dec 2011

0.24736

0.24736

—

—

28 Sep 2012

30 Sep 2012

0.00000

0.00000

—

—

24 Dec 2012

31 Dec 2012

0.18371

0.18371

—

—

24 Sep 2013

30 Sep 2013

0.12965

0.12965

—

—

24 Dec 2013

31 Dec 2013

0.07554

0.07554

—

—

24 Sep 2014

30 Sep 2014

0.08706

0.08706

—

—

24 Dec 2014

31 Dec 2014

0.01462

0.01462

—

—

24 Dec 2015

31 Dec 2015

0.14985

0.14985

—

—

24 Jun 2016

30 Jun 2016

0.06467

0.06467

—

—

26 Sep 2016

30 Sep 2016

0.06671

0.06671

—

—

23 Dec 2016

31 Dec 2016

0.08397

0.08397

—

—

24 Mar 2017

31 Mar 2017

0.02942

0.02942

—

—

23 Jun 2017

30 Jun 2017

0.06224

0.06224

—

—

22 Sep 2017

30 Sep 2017

0.02047

0.02047

—

—

22 Dec 2017

31 Dec 2017

0.10180

0.10180

—

—

21 Dec 2018

31 Dec 2018

0.65217

0.65217

—

—

14 Nov 2019

14 Nov 2019

0.28174

—

0.00000

0.28174

20 Dec 2019

31 Dec 2019

0.23163

0.23163

—

—

19 Nov 2020

19 Nov 2020

2.30329

—

0.68813

1.61516

17 Dec 2020

31 Dec 2020

0.08510

0.08510

—

—

18 Nov 2021

18 Nov 2021

4.54624

—

0.00000

4.54624

16 Dec 2021

31 Dec 2021

0.59076

0.59076

—

—

17 Nov 2022

17 Nov 2022

0.78534

—

0.00000

0.78534

15 Dec 2022

31 Dec 2022

0.44930

0.44930

—

—

16 Nov 2023

16 Nov 2023

1.19547

—

0.17333

1.02214

14 Dec 2023

31 Dec 2023

0.73259

0.73259

—

—

21 Nov 2024

21 Nov 2024

0.97178

—

0.06433

0.90745

19 Dec 2024

31 Dec 2024

1.09041

1.09041

—

—

20 Nov 2025

20 Nov 2025

2.45657

—

0.00000

2.45657

18 Dec 2025

31 Dec 2025

0.60968

0.60968

—

—

Fund Facts

Fund Facts

(As of 31 Aug 2026)

Net Fund Assets

$1.9 B

Benchmark

MSCI ACWI Index

Morningstar Category

Global Large-Stock Blend

Fund Symbol

THOIX

Share Class

I

Share Class Inception Date

28 Jul 2006

Distribution Frequency

Annually

Characteristics

Characteristics

Portfolio

(As of 31 Aug 2026)

Portfolio

Benchmark

Number of Holdings

41

—

Weighted Average Market Cap

$516.5 B

$1,075.6 B

Median Market Cap

$132.1 B

$19.3 B

Annual Portfolio Turnover

15%

—

Price to Earnings - Forward 1YR

12.8x

18.2x

Portfolio

Benchmark

Price to Earnings - Trailing 12 Months

19.5x

25.2x

Price to Cash Flow

8.6x

15.5x

Price to Book Value

2.4x

3.8x

Active Share

90.0%

—

Annual Portfolio Turnover reflects data as of the Fund’s fiscal year end (9/30).

Risk & Return Profile

Risk & Return Profile

(As of 31 Aug 2026)

3y

5y

10y

Annualized Alpha (%)

8.25

4.39

1.21

Beta

0.78

0.87

1.01

R-Squared (%)

65.56

76.26

81.75

Standard Deviation (%)

11.84

14.84

16.31

Sharpe Ratio

1.71

0.69

0.69

Information Ratio

0.62

0.41

0.16

Tracking Error (%)

7.43

7.50

6.97

Up Capture (%)

102.34

98.96

102.81

Down Capture (%)

67.48

82.22

98.19

Past performance does not guarantee future results.

Risk & Return Profile metrics are based on the I share class.

Portfolio

Portfolio

Top Holdings

(As of 31 Aug 2026)

Name

Ticker/Symbol

Sector

Weight %

Samsung Electronics Co. Ltd.

005930

Information Technology

5.5

Taiwan Semiconductor Manufacturing Co. Ltd.

2330

Information Technology

5.1

Alphabet, Inc.

GOOGL

Communication Services

4.3

The Charles Schwab Corp.

SCHW

Financials

3.8

Citigroup, Inc.

C

Financials

3.6

Orange S.A.

ORA

Communication Services

3.6

AT&T, Inc.

T

Communication Services

3.5

BNP Paribas S.A.

BNP

Financials

3.4

Bank of Ireland Group plc

BIRG

Financials

3.2

Freeport-McMoRan, Inc.

FCX

Materials

3.1

Download Holdings

Portfolio holdings are subject to change daily.

Exposure Breakdown

Exposure Breakdown

(As of 31 Aug 2026)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

0%

10%

20%

30%

40%

Communication Services

22.5

7.7

Financials

17.8

16.9

Information Technology

15.3

31.2

Industrials

11.6

10.6

Consumer Discretionary

10.2

8.7

Energy

6.4

4.0

Cash & Equivalents

5.8

—

Materials

5.2

3.8

Health Care

2.7

8.5

Consumer Staples

2.7

4.7

Real Estate

0.0

1.5

Utilities

0.0

2.3

Sector Allocation

Fund (%)

Communication Services

22.5

Financials

17.8

Information Technology

15.3

Industrials

11.6

Consumer Discretionary

10.2

Energy

6.4

Cash & Equivalents

5.8

Materials

5.2

Health Care

2.7

Consumer Staples

2.7

Real Estate

0.0

Utilities

0.0

Top 10 Industries

Fund (%)

Benchmark (%)

Fund

Benchmark

0%

5%

10%

15%

20%

Telecommunication Services

14.0

1.5

Banks

10.2

8.3

Media & Entertainment

8.4

6.2

Capital Goods

7.6

8.1

Consumer Services

6.7

1.4

Energy

6.4

4.0

Technology Hardware & Equipment

5.5

8.9

Materials

5.2

3.8

Semiconductors & Semiconductor Equipment

5.1

15.0

Financial Services

4.9

5.8

Top 10 Industries

Fund (%)

Telecommunication Services

14.0

Banks

10.2

Media & Entertainment

8.4

Capital Goods

7.6

Consumer Services

6.7

Energy

6.4

Technology Hardware & Equipment

5.5

Materials

5.2

Semiconductors & Semiconductor Equipment

5.1

Financial Services

4.9

Top 10 Countries

Fund (%)

Benchmark (%)

Region

Portfolio

Benchmark

0%

10%

20%

30%

40%

50%

60%

70%

United States

33.5

63.5

North America

France

11.0

2.1

Europe ex UK

Germany

7.8

1.9

Europe ex UK

China

7.1

2.4

Asia Pacific ex Japan

Korea, Republic of (South Korea)

5.5

2.5

Asia Pacific ex Japan

Taiwan

5.2

3.3

Asia Pacific ex Japan

United Kingdom

4.3

3.2

UK

Hong Kong

4.2

0.4

Asia Pacific ex Japan

Ireland

3.2

0.1

Europe ex UK

Netherlands

2.6

1.2

Europe ex UK

Top 10 Countries

Fund (%)

United States

33.5

France

11.0

Germany

7.8

China

7.1

Korea, Republic of (South Korea)

5.5

Taiwan

5.2

United Kingdom

4.3

Hong Kong

4.2

Ireland

3.2

Netherlands

2.6

Capitalization

Fund (%)

Benchmark (%)

Fund

Benchmark

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Large Cap (> $12 B)

87.2

97.5

Mid Cap ($2.5 to $12 B)

8.7

2.5

Small Cap (< $2.5 B)

4.1

0.0

Capitalization

Fund (%)

Large Cap (> $12 B)

87.2

Mid Cap ($2.5 to $12 B)

8.7

Small Cap (< $2.5 B)

4.1

Holdings within the Geography breakdown are classified by country of risk as determined by MSCI and Bloomberg.

Weights are percentages of the total portfolio unless otherwise noted.

May not add up to 100% due to rounding.

Cash and Equivalents includes cash, short-term securities, other assets less liabilities, accruals, derivatives and forwards. It may also include investments in money market or similar funds managed by Thornburg that are not offered to the public.

Portfolio Managers

Portfolio Managers

Brian McMahon

Vice Chairman, Chief Investment Strategist, Portfolio Manager and Managing Director

Brian McMahon is chief investment strategist and a portfolio manager for Thornburg Investment Management. Brian is deeply respected for his market and investment insight and serves as a key voice for the investment team and Thornburg clients. He also co-manages Thornburg’s global equity portfolios and serves as vice chairman of Thornburg. Brian joined Thornburg in 1984 as chief investment officer;…

Learn More

Miguel Oleaga

Portfolio Manager and Managing Director

Miguel Oleaga is a portfolio manager for Thornburg Investment Management. He joined the firm in 2014 as an equity research analyst, was promoted to associate portfolio manager in 2017, and was named portfolio manager in 2018. Miguel holds a BS in business administration (finance and management specialties) from the University of Massachusetts. Prior to his joining Thornburg, Miguel worked at…

Learn More

Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Financial Statements

Semi-Annual Financial Statements

Prospectus

Statement of Additional Information (SAI)

Annual TSR

Semi-Annual TSR

Annual Shareholder Letter

Important Information

To determine a fund's Morningstar Rating™, funds and other managed products with at least a three-year history are ranked in their categories by their Morningstar Risk-Adjusted Return scores. The top 10% receive 5 stars; the next 22.5%, 4 stars; the middle 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10% receive 1 star. The Risk-Adjusted Return accounts for variation in a managed product's monthly excess performance (excluding sales charges), placing more emphasis on downward variations and rewarding consistent performance. Other share classes may have different performance characteristics.

© 2026 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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 thornburg.com. 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. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

The performance of any index is not indicative of the performance of any particular investment. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. Investors may not make direct investments into any index.

Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment losses.

Funds invested in a limited number of holdings may expose an investor to greater volatility.

Class R shares are limited to retirement platforms only.

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.

There is no guarantee that the Fund will meet its investment objectives.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities LLC.

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 LLC (TSL) does not act as broker of record for investors.

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