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TBIIBUI ID

Thornburg Equity Income Builder Fund (UCITS)

Morningstar Rating  • Info

Overall Morningstar Rating among 1191 EAA Fund Global Equity Income funds, based on risk-adjusted returns for class I Acc shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 5 stars, 5 stars and 5 stars among 1191, 971 and 615 funds, as of 31 Aug 2026.

As of 31 Aug 2026
Fund Assets
$915.0 M
As of 31 Aug 2026
NAV
$44.23
As of 16 Sep 2026
Change
$-0.06
As of 16 Sep 2026
YTD NAV Performance
19.25%
As of 16 Sep 2026
Asset Category:
Global Equity
Fund Benchmark:
MSCI World Index

FE fundinfo Crown Fund Ratings do not constitute investment advice offered by FE fundinfo and should not be used as the sole basis for making any investment decision. All rights reserved.

Portfolio Managers

Head of Equities, Portfolio Manager and Managing Director
Vice Chairman, Chief Investment Strategist, Portfolio Manager and Managing Director

A Disciplined Approach to Global Equity Income

In this Q&A, Matt Burdett discusses how the Thornburg Equity Income Builder Fund is positioned to deliver resilient income and diversification through disciplined global stock selection.

Click here to learn more. 

Overview

Overview

Why Invest in This Fund?

  • Global portfolio of dividend-paying companies – Seeks to provide an attractive and growing income stream by investing in high-quality companies worldwide with strong dividend potential.
  • Proven bottom-up research process – Focuses on companies with strong cash flows and financial stability that have both the ability and willingness to pay and grow their dividends over time.
  • Highly active and flexible approach – Unconstrained by benchmarks, allowing the strategy to seek the best income opportunities across global equity markets.

Investment Objective

The fund’s investment objective  is to provide long-term income growth and capital appreciation.

Investment Approach

The fund is a globally focused, actively managed portfolio that invests in dividend-paying companies with strong cash flows and a commitment to growing their dividends over time. Using a disciplined, bottom-up research process, we identify companies with both the ability and willingness to pay and grow their dividends while maintaining financial stability. Investors should expect a strategy that prioritizes current income while offering the potential for dividend growth and long-term capital appreciation.

Fund Facts

Fund Facts

(As of 31 Aug 2026)
Net Fund Assets
$915.0 M
Benchmark
MSCI World Index
Morningstar Category
EAA Fund Global Equity Income
Distribution Frequency
N/A
SFDR
Article 8
Minimum Investment
$1,000,000
Ongoing Charges
0.80%
Management Fee
0.65%
Share Class
I Acc
Share Class Inception Date
29 Jun 2012
Fund Inception Date
28 Jun 2012
Bloomberg Ticker
TBIIBUI ID
ISIN
IE00B6YCBF59
Cusip
G8T49N 214
SEDOL
B6YCBF5
Performance

Performance

Returns

(As of 30 Jun 2026)
YTD
1y
3y
5y
10y
Inception
Total Return (%)
15.83
32.35
24.37
16.44
12.81
10.97
MSCI World Index (%)
9.69
21.34
19.24
11.47
13.14
12.16
MSCI World High Dividend Yield Index (%)
8.85
18.09
13.60
8.72
8.72
8.76
Morningstar Category Avg. (%)
8.18
16.55
14.45
8.56
9.29
Morningstar Quartile
1
1
1
1
Morningstar Quartile # of Funds
1433
1185
970
609
YTD
1y
3y
5y
10y
Inception
Total Return (%)
20.49
31.71
25.66
16.92
12.81
11.14
MSCI World Index (%)
13.10
20.37
20.11
11.21
13.01
12.24
MSCI World High Dividend Yield Index (%)
14.81
19.89
15.21
9.41
9.10
9.06
Morningstar Category Avg. (%)
13.1
18.64
16.12
8.96
9.31
Morningstar Quartile
1
1
1
1
Morningstar Quartile # of Funds
1459
1191
971
615
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Total Return (%)
14.21
6.26
-4.36
9.92
14.99
-4.81
18.42
2.30
17.62
-6.02
19.41
12.60
36.96
MSCI World Index (%)
26.68
4.94
-0.87
7.51
22.40
-8.71
27.67
15.90
21.82
-18.14
23.79
18.67
21.09
MSCI World High Dividend Yield Index (%)
21.91
2.48
-3.20
9.29
18.14
-7.56
23.15
-0.03
15.83
-4.74
9.12
7.95
18.64
YTD
1y
3y
5y
10y
Inception
Total Return (%)
15.83
32.35
92.39
114.05
233.80
329.60
MSCI World Index (%)
9.69
21.34
69.55
72.12
243.63
398.44
MSCI World High Dividend Yield Index (%)
8.85
18.09
46.60
51.89
130.81
224.02
YTD
1y
3y
5y
10y
Inception
Total Return (%)
20.49
31.71
98.45
118.53
233.76
346.90
MSCI World Index (%)
13.10
20.37
73.27
70.11
239.65
413.91
MSCI World High Dividend Yield Index (%)
14.81
19.89
52.93
56.80
139.00
241.78
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 31 Aug 2026)
(Hypothetical Growth of $10,000 vs MSCI World Index)
Characteristics

Characteristics

Portfolio

(As of 31 Aug 2026)
Portfolio
Benchmark
Number of Holdings
66
Weighted Average Market Cap
$286.9 B
$1,152.2 B
Median Market Cap
$56.4 B
$29.9 B
Annual Portfolio Turnover
18%
Price to Earnings - Forward 1YR
13.1x
19.2x
Portfolio
Benchmark
Dividend Yield
3.5%
1.4%
Price to Earnings - Trailing 12 Months
17.0x
26.4x
Price to Cash Flow
7.4x
16.3x
Price to Book Value
2.3x
4.1x
Active Share
92.1%
Risk & Return Profile

Risk & Return Profile

(As of 31 Aug 2026)
3y
5y
10y
Annualized Alpha (%)
14.32
9.08
2.58
Beta
0.53
0.67
0.79
R-Squared (%)
44.66
66.64
74.02
Standard Deviation (%)
9.66
12.34
13.53
Sharpe Ratio
2.19
1.07
0.77
Information Ratio
0.63
0.67
-0.02
Tracking Error (%)
9.12
8.71
7.58
Up Capture (%)
93.54
91.13
84.02
Down Capture (%)
31.83
56.10
72.44
Portfolio

Portfolio

Top Holdings

(As of 31 Aug 2026)
Name
Ticker/Symbol
Sector
Weight %
Orange S.A.
ORA
Communication Services
4.9
Taiwan Semiconductor Manufacturing Co. Ltd.
TSM
Information Technology
4.0
Broadcom, Inc.
AVGO
Information Technology
3.5
Samsung Electronics Co. Ltd.
005930
Information Technology
3.3
AT&T, Inc.
T
Communication Services
3.3
Kimberly-Clark Corp.
KMB
Consumer Staples
3.2
NN Group N.V.
NN
Financials
3.1
BNP Paribas S.A.
BNP
Financials
2.8
TotalEnergies SE
TTE
Energy
2.5
CME Group, Inc.
CME
Financials
2.4
Exposure Breakdown

Exposure Breakdown

(As of 31 Aug 2026)
Sector Allocation
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Financials
21.0
16.6
Communication Services
18.5
7.9
Information Technology
12.2
29.8
Cash & Equivalents
9.0
Health Care
8.6
9.3
Consumer Staples
6.3
4.9
Energy
5.3
4.1
Industrials
5.2
11.1
Utilities
5.1
2.4
Consumer Discretionary
4.7
8.8
Materials
4.2
3.5
Real Estate
0.0
1.6
Sector Allocation
Fund (%)
Financials
21.0
Communication Services
18.5
Information Technology
12.2
Cash & Equivalents
9.0
Health Care
8.6
Consumer Staples
6.3
Energy
5.3
Industrials
5.2
Utilities
5.1
Consumer Discretionary
4.7
Materials
4.2
Real Estate
0.0
Top 10 Industries
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
Telecommunication Services
18.5
1.4
Banks
9.2
7.5
Semiconductors & Semiconductor Equipment
7.6
13.7
Insurance
7.1
2.8
Pharmaceuticals, Biotechnology & Life Sciences
6.9
6.7
Energy
5.3
4.1
Utilities
5.1
2.4
Household & Personal Products
4.9
1.0
Financial Services
4.7
6.2
Technology Hardware & Equipment
4.6
7.9
Top 10 Industries
Fund (%)
Telecommunication Services
18.5
Banks
9.2
Semiconductors & Semiconductor Equipment
7.6
Insurance
7.1
Pharmaceuticals, Biotechnology & Life Sciences
6.9
Energy
5.3
Utilities
5.1
Household & Personal Products
4.9
Financial Services
4.7
Technology Hardware & Equipment
4.6
Top 10 Countries
Fund (%)
Benchmark (%)
Region

Portfolio

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
United States
24.1
72.1
North America
France
12.7
2.4
Europe ex UK
Netherlands
9.9
1.4
Europe ex UK
United Kingdom
8.9
3.5
UK
Germany
5.4
2.2
Europe ex UK
Taiwan
4.0
Asia Pacific ex Japan
Italy
3.4
0.8
Europe ex UK
Korea, Republic of (South Korea)
3.3
Asia Pacific ex Japan
Hong Kong
2.8
0.4
Asia Pacific ex Japan
Spain
2.7
1.0
Europe ex UK
Top 10 Countries
Fund (%)
United States
24.1
France
12.7
Netherlands
9.9
United Kingdom
8.9
Germany
5.4
Taiwan
4.0
Italy
3.4
Korea, Republic of (South Korea)
3.3
Hong Kong
2.8
Spain
2.7
Capitalization
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Cap (> $12 B)
96.5
98.8
Mid Cap ($2.5 to $12 B)
3.0
1.2
Small Cap (< $2.5 B)
0.6
Capitalization
Fund (%)
Large Cap (> $12 B)
96.5
Mid Cap ($2.5 to $12 B)
3.0
Small Cap (< $2.5 B)
0.6
Portfolio Managers

Portfolio Managers

Matt Burdett

Head of Equities, Portfolio Manager and Managing Director
Matt Burdett is head of equities and a portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager. Matt was named a managing director and was promoted to portfolio manager in 2018 and to head of equities in 2024. Matt spent several years as a senior vice president and portfolio manager at PIMCO,…
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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;…
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