Thornburg Investment Income Builder Fund

Share Class

Average Annual Total Returns

A Acc Shares (Incep. 29/06/2012) 1-MONTH YTD 1-YR 3-YR 5-YR INCEPTION
TBIIBUA ID-1.36%6.98%0.53%5.60%2.91%5.99%
Benchmark (Since 29/06/2012)
Blended Index-0.89%13.79%2.96%8.10%5.59%8.40%
A Acc Shares (Incep. 29/06/2012) QTD YTD 1-YR 3-YR 5-YR INCEPTION
TBIIBUA ID2.51%9.44%5.79%7.76%3.73%6.49%
Benchmark (Since 29/06/2012)
Blended Index3.87%14.32%7.02%9.47%5.82%8.68%
A Acc Shares (Incep. 29/06/2012) Blended Index
2013 13.15% 18.92%
2014 5.36% 5.25%
2015 -5.24% -0.33%
2016 8.92% 6.41%
2017 14.03% 17.42%
2018 -5.65% -6.42%

Returns for less than one year are not annualized.
Source: Confluence

Fees and Expenses — Class A Acc Shares

Management Fee* 1.50%
Expense Ratio 1.85%

For more information about charges, please see the section of this Fund's prospectus entitled "Fees and Expenses" or the section of this Fund's Key Investor Information Document entitled "Charges to the Funds".

* As a percent of Net Asset Value

Morningstar Rating

Overall Morningstar Rating among 240 USD Aggressive Allocation funds, based on risk-adjusted returns for class A Acc shares, using a weighted average of the fund's three- and five-year ratings: respectively, 3 stars and 3 stars among 240 and 172 funds, as of 8/31/2019.

Hypothetical Growth of $10,000 as of

A Acc Shares
15180.00000000
Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Average Annual Total Returns

A Dist Shares (Incep. 19/04/2017) 1-MONTH YTD 1-YR INCEPTION*
THIIBAD ID-1.40%7.01%0.52%4.67%
Benchmark (Since 03/04/2017)
Blended Index-0.89%13.79%2.96%7.58%
A Dist Shares (Incep. 19/04/2017) QTD YTD 1-YR INCEPTION*
THIIBAD ID2.50%9.46%5.75%6.10%
Benchmark (Since 03/04/2017)
Blended Index3.87%14.32%7.02%8.41%
A Dist Shares* (Incep. 19/04/2017) Blended Index
2018 -5.68% -6.42%

* Since 03/04/2017.
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

Fees and Expenses — Class A Dist Shares

Management Fee* 1.50%
Expense Ratio 1.85%

For more information about charges, please see the section of this Fund's prospectus entitled "Fees and Expenses" or the section of this Fund's Key Investor Information Document entitled "Charges to the Funds".

* As a percent of Net Asset Value

Dividends and Capital Gains — Class A Dist Shares

Dividend (paid 3 Jul 2019) $0.14999

Hypothetical Growth of $10,000 as of

A Dist Shares
11164.14740000
Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

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.

Average Annual Total Returns

C Acc Shares (Incep. 15/08/2017) 1-MONTH YTD 1-YR 3-YR 5-YR INCEPTION*
TBIIBUC ID-1.32%6.73%0.10%4.95%2.33%5.41%
Benchmark (Since 29/06/2012)
Blended Index-0.89%13.79%2.96%8.10%5.59%8.40%
C Acc Shares (Incep. 15/08/2017) QTD YTD 1-YR 3-YR 5-YR INCEPTION*
TBIIBUC ID2.39%9.17%5.21%7.06%3.12%5.89%
Benchmark (Since 29/06/2012)
Blended Index3.87%14.32%7.02%9.47%5.82%8.68%
C Acc Shares* (Incep. 15/08/2017) Blended Index
2013 12.59% 18.92%
2014 4.84% 5.25%
2015 -5.72% -0.33%
2016 8.38% 6.41%
2017 12.94% 17.42%
2018 -6.12% -6.42%

* Since 29/06/2012.
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

Fees and Expenses — Class C Acc Shares

Management Fee* 2.00%
Expense Ratio 2.35%

C shares include a 1.0% contingent deferred sales charge (CDSC) for the first year only.
For more information about charges, please see the section of this Fund's prospectus entitled "Fees and Expenses" or the section of this Fund's Key Investor Information Document entitled "Charges to the Funds".

* As a percent of Net Asset Value

Hypothetical Growth of $10,000 as of

C Acc Shares
14593.86080000
Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

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.

Average Annual Total Returns

C Dist Shares (Incep. 15/08/2017) 1-MONTH YTD 1-YR INCEPTION*
THIBCDU ID-1.46%6.66%-0.06%4.40%
Benchmark (Since 03/04/2017)
Blended Index-0.89%13.79%2.96%7.58%
C Dist Shares (Incep. 15/08/2017) QTD YTD 1-YR INCEPTION*
THIBCDU ID2.38%9.20%5.18%5.85%
Benchmark (Since 03/04/2017)
Blended Index3.87%14.32%7.02%8.41%
C Dist Shares* (Incep. 15/08/2017) Blended Index
2018 -6.15% -6.42%

* Since 03/04/2017.
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

Fees and Expenses — Class C Dist Shares

Management Fee* 2.00%
Expense Ratio 2.35%

C shares include a 1.0% contingent deferred sales charge (CDSC) for the first year only.
For more information about charges, please see the section of this Fund's prospectus entitled "Fees and Expenses" or the section of this Fund's Key Investor Information Document entitled "Charges to the Funds".

* As a percent of Net Asset Value

Dividends and Capital Gains — Class C Dist Shares

Dividend (paid 3 Jul 2019) $0.13139

Hypothetical Growth of $10,000 as of

C Dist Shares
11094.60760000
Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

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.

Average Annual Total Returns

I Acc Shares (Incep. 29/06/2012) 1-MONTH YTD 1-YR 3-YR 5-YR INCEPTION
TBIIBUI ID-1.28%7.65%1.44%6.53%3.84%6.95%
Benchmark (Since 29/06/2012)
Blended Index-0.89%13.79%2.96%8.10%5.59%8.40%
I Acc Shares (Incep. 29/06/2012) QTD YTD 1-YR 3-YR 5-YR INCEPTION
TBIIBUI ID2.80%9.97%6.78%8.72%4.66%7.45%
Benchmark (Since 29/06/2012)
Blended Index3.87%14.32%7.02%9.47%5.82%8.68%
I Acc Shares (Incep. 29/06/2012) Blended Index
2013 14.21% 18.92%
2014 6.26% 5.25%
2015 -4.36% -0.33%
2016 9.92% 6.41%
2017 14.99% 17.42%
2018 -4.81% -6.42%

Returns for less than one year are not annualized.
Source: Confluence

Fees and Expenses — Class I Acc Shares

Management Fee* 0.80%
Expense Ratio 0.95%

For more information about charges, please see the section of this Fund's prospectus entitled "Fees and Expenses" or the section of this Fund's Key Investor Information Document entitled "Charges to the Funds".

* As a percent of Net Asset Value

Morningstar Rating

Overall Morningstar Rating among 240 USD Aggressive Allocation funds, based on risk-adjusted returns for class I Acc shares, using a weighted average of the fund's three- and five-year ratings: respectively, 4 stars and 3 stars among 240 and 172 funds, as of 8/31/2019.

Hypothetical Growth of $10,000 as of

I Acc Shares
16190.00000000
Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Average Annual Total Returns

I Dist Shares (Incep. 03/04/2017) 1-MONTH YTD 1-YR INCEPTION
THIIBID ID-1.32%7.67%1.40%5.67%
Benchmark (Since 03/04/2017)
Blended Index-0.89%13.79%2.96%7.58%
I Dist Shares (Incep. 03/04/2017) QTD YTD 1-YR INCEPTION
THIIBID ID2.83%10.03%6.73%7.15%
Benchmark (Since 03/04/2017)
Blended Index3.87%14.32%7.02%8.41%
I Dist Shares (Incep. 03/04/2017) Blended Index
2018 -4.90% -6.42%

Returns for less than one year are not annualized.
Source: Confluence

Fees and Expenses — Class I Dist Shares

Management Fee* 0.80%
Expense Ratio 0.95%

For more information about charges, please see the section of this Fund's prospectus entitled "Fees and Expenses" or the section of this Fund's Key Investor Information Document entitled "Charges to the Funds".

* As a percent of Net Asset Value

Dividends and Capital Gains — Class I Dist Shares

Dividend (paid 3 Jul 2019) $0.17196

Hypothetical Growth of $10,000 as of

I Dist Shares
11423.17990000
Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.
Important Information