SECTOR ALLOCATION as of 30/11/2018

  • Industrials24.4%
  • Financials19.3%
  • Consumer Discretionary13.7%
  • Energy9.0%
  • Information Technology6.9%
  • Communication Services6.5%
  • Materials6.5%
  • Real Estate5.5%
  • Health Care5.2%
  • Utilities3.0%

Ten Largest Holdings as of 31/10/2018

% OF PORTFOLIO
Teekay LNG Partners L.P.5.1%
Aena SME S.A.4.8%
Bellway plc4.2%
Centurylink, Inc.4.2%
Lloyds Banking Group plc3.7%
Ferrovial S.A.3.7%
New World Development Co. Ltd.3.6%
JPMorgan Chase & Co.3.3%
Atlantia SpA3.3%
Seaspan Corp.3.2%
Portfolio holdings are subject to change.

KEY PORTFOLIO ATTRIBUTES as of 30/11/2018

Assets$3.37 M
Dividend Yield4.2%
Portfolio P/E Forward 12 Months*12.1x
Portfolio Price to Cash Flow*5.7x
Portfolio Price to Book*1.2x
Median Market Capitalization*$20.3 B
Number of Holdings51
5-Year Beta (A shares vs. MSCI World Index)0.90
* Source: FactSet
Source: Morningstar

REGIONAL DIVERSIFICATION as of 30/11/2018

  • Europe ex UK28.3%
  • Asia Pacific ex Japan23.2%
  • North America22.6%
  • UK16.4%
  • Other9.3%
  • Latin America0.2%
Holdings are classified by country of risk as determined by MSCI and Bloomberg. The percentages may not add up to 100 due to rounding.

CAPITALIZATION EXPOSURE as of 30/11/2018

  • Large Cap (> $12 B)63.7%
  • Mid Cap ($2.5 to $12 B)16.5%
  • Small Cap (< $2.5 B)19.8%
The percentages may not add up to 100 due to rounding.
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.

Citywire Group Ratings recognize the expertise of a group as a whole in managing money in one of Citywire’s investment sectors. Individual managers with at least a three-year history count towards the Citywire Group Rating. The ratings are calculated over seven years and based on an average of managers' three-year rolling risk-adjusted returns. Based on the level of outperformance, only around 20–25% of groups in each sector make the cut to receive a rating. Of those, the top 10% receive a Platinum rating; the next 20%, Gold; the next 30%, Silver; and the remaining 40%, Bronze. Citywire Group Ratings are updated every six months. Past performance does not guarantee future results.

Citywire Group Ratings are proprietary to Citywire Financial Publishers Ltd (“Citywire”) and © Citywire 2018. All rights reserved. You may only use this material for your personal and non-commercial use. No part of this material may be copied, distributed or adapted in any form or by any means without prior written consent. Citywire does not accept any liability for your reliance upon, or any errors or omissions in the Citywire Group Ratings.

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.