Drawing from over three decades of experience, we have brought together our disciplined relative value approach to fixed income management and our valuation-focused, fundamental equity research methodology to offer flexible multi-asset funds with a global focus.
Able to take advantage of investment opportunities across asset classes around the world, Thornburg’s multi-asset funds may be well suited for longer-term investors seeking to complement their more traditional stock and bond funds.
Like every Thornburg fund, we construct our multi-asset portfolios from the bottom up, one security at a time. Every position matters, given its meaningful individual impact on risk diversification and potential return. We know what we own, and why we own it.
Not being constrained by a benchmark and with a broad investable universe, we look within the U.S. and around the globe to find investment opportunities in equities and fixed income securities. Thornburg Summit Fund expands the opportunity set even further, able to invest in short positions, commodities, derivatives and currencies.
We seek the best relative value across all asset classes. Within fixed income, we don’t reach for yield; we conduct rigorous credit research and invest only when the risk/reward tradeoff appears tilted decidedly in the shareholder’s favor.
On the equity side, we are disciplined, long-term investors, who won’t compromise on the rigorous, time-tested standards we follow in our portfolios. We take a broad, comprehensive view of value, which for us spans a variety of metrics designed to ascertain whether the market has appropriately priced a security’s worth relative to the prospects we see. We tend to be strict about selling as price targets are met, investment theses break down, or more compelling opportunities arise.
Thornburg’s generalist research approach means that each of our portfolio managers and analysts works across a broad array of geographies, sectors, asset classes, and security types, and is conducive to a free exchange of ideas in the pursuit of the best relative-value opportunities.