SECTOR ALLOCATION as of 31/10/2018

  • Financials20.7%
  • Industrials15.1%
  • Energy12.8%
  • Information Technology10.2%
  • Communication Services8.8%
  • Consumer Staples8.5%
  • Consumer Discretionary7.8%
  • Utilities7.7%
  • Health Care6.0%
  • Materials2.4%

Ten Largest Holdings as of 30/09/2018

Electricite de France S.A.5.3%
Reliance Industries Ltd.4.8%
Ping An Insurance Group Co. of China Ltd.4.5%
Canadian Pacific Railway Ltd.4.1%
SoftBank Group Corp.4.0%
Royal Dutch Shell plc3.9%
UniCredit SpA3.7%
SAP SE3.2%
Credit Suisse Group AG3.1%
Tencent Holdings Ltd.3.0%
Portfolio holdings are subject to change.


Assets$22.27 M
Dividend Yield2.3%
Portfolio P/E Forward 12 Months*14.1x
Portfolio Price to Cash Flow*7.3x
Portfolio Price to Book*1.6x
Median Market Capitalization*$35.4 B
Number of Holdings45
5-Year Beta (A shares vs. MSCI EAFE Index)0.99
5-Year Beta (A shares vs. MSCI AC World ex-U.S. Index)0.96
* Source: FactSet
Source: Morningstar


  • Europe ex UK54.9%
  • Asia Pacific ex Japan25.4%
  • Japan8.8%
  • North America4.8%
  • UK3.3%
  • Other2.8%
Holdings are classified by country of risk as determined by MSCI and Bloomberg. The percentages may not add up to 100 due to rounding.


  • Large Cap (> $12 B)86.0%
  • Mid Cap ($2.5 to $12 B)12.5%
  • Small Cap (< $2.5 B)1.5%
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.

Administrator: Brown Brothers Harriman Fund Administration Services (Ireland) Limited, Ireland, +353.1.603.6490

Please see our glossary for a definition of terms.