Dividend Income from Around the World

Thornburg Global Equity Income Fund is a bottom-up, value-oriented, focused portfolio of dividend-paying stocks from around the world, leveraging Thornburg’s renowned capacity as a global manager, in a broad search for attractive dividend yield. It is offered for investors who wish to include dividend-paying equities in an asset mix, without the income from bonds.

“Income or dividends are an essential element of this global equity portfolio. We use a value-based research process to build an income-generating portfolio of quality businesses from around the world. In this way we seek to capture both the advantages of global diversification and the fundamental appeal of an attractive, stable stream of dividends. We believe that the structure of the Thornburg Global Equity Income strategy gives us a sensible framework for value-added income investing.”

— Vinson Walden

Investment Objective

The primary investment objective of this Fund is to provide a level of current income which generally exceeds the average yield on U.S. stocks. The secondary goal is long-term capital appreciation. There is no guarantee that the Fund will meet its objectives.

Searching for Companies with the Ability and Willingness to Distribute Earnings

We are active, bottom up investors and seek to invest in securities of issuers with the ability and willingness to pay an attractive dividend today, and the potential to grow over time. We are value managers, and attempt to buy these securities at times when the market does not fully appreciate their value.

A Focused, Global Portfolio

We believe that diversification beyond a certain number of holdings normally yields only marginal performance benefits. The task of analyzing, understanding, and tracking 50 to 80 holdings is more manageable than that associated with an over-diversified portfolio of 200 or 300 companies.

Using Thornburg’s Three-Basket Diversification Construct

Global Equity Income employs Thornburg’s three-basket construct to build a portfolio of diversified risk exposures.

Basic value companies are financially sound companies, with well-established businesses, typically found in cyclical sectors.

Consistent earners exhibit steady earnings and revenue growth, often with recurring revenue profiles that generate the type of free cash flow associated with a healthy dividend payout.

Emerging franchises are in the process of establishing a leading product, service, or market.

Important Information

The Fund is offered solely to non-U.S. investors under the terms and conditions of the Fund’s current Prospectus. A copy of the full Prospectus and KIID for the Fund may be obtained by contacting the local Paying Agent through the Fund’s Transfer Agent, Brown Brothers Harriman Fund Administrator Services (Ireland) Limited or in the forms and literature section of this website. The Prospectus and KIID contain important information about the Fund and should be read carefully before investing.

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments 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 insured, nor are they bank deposits or guaranteed by a bank or any other entity.

This material constitutes a financial promotion for the purposes of the Financial Services and Markets Act 2000 (the “Act”) and the handbook of rules and guidance issued from time to time by the FCA (the "FCA Rules"). This material is for information purposes only and does not constitute an offer to subscribe for or purchase any financial instrument. Thornburg Investment Management Ltd. ("TIM Ltd.") neither provides investment advice to, nor receives and transmits orders from, persons to whom this material is communicated nor does it carry on any other activities with or for such persons that constitute "MiFID or equivalent third country business" for the purposes of the FCA Rules. All information provided is not warranted as to completeness or accuracy and is subject to change without notice.

The Fund is a sub-fund of Thornburg Global Investment plc, an open-ended umbrella type investment company with segregated liability between sub-funds, authorised by the Central Bank of Ireland (CBI) on 25 November 2011 as an investment company pursuant to the UCITS Regulations. Authorisation of the Company by the CBI is not an endorsement or guarantee of the Company by the CBI nor is the CBI responsible for the contents of the Prospectus or KIID.

Administrator: Brown Brothers Harriman Fund Administration Services (Ireland) Limited, Ireland, BBH.Dublin.TA@bbh.com +353.1.603.6490

Please see our glossary for a definition of terms.