SECTOR ALLOCATION as of 31/05/2019

  • Industrials18.1%
  • Financials17.5%
  • Consumer Staples14.3%
  • Communication Services14.3%
  • Consumer Discretionary9.1%
  • Information Technology7.6%
  • Energy6.7%
  • Materials5.1%
  • Health Care4.1%
  • Utilities3.1%

Ten Largest Holdings as of 30/04/2019

Ping An Insurance Group Co. of China Ltd.4.8%
Tencent Holdings Ltd.3.9%
SoftBank Group Corp.3.3%
SAP SE3.3%
Inner Mongolia Yili Industrial Group Co. Ltd.3.2%
Reliance Industries Ltd.3.0%
Danone S.A.2.9%
Hong Kong Exchanges & Clearing Ltd.2.9%
Alibaba Group Holding Ltd.2.9%
Shin-Etsu Chemical Co. Ltd.2.8%
Portfolio holdings are subject to change.


Assets$20.75 M
Dividend Yield2.3%
Portfolio P/E Forward 12 Months*16.5x
Portfolio Price to Cash Flow*10.4x
Portfolio Price to Book*2.2x
Median Market Capitalization*$39.2 B
Number of Holdings52
5-Year Beta (A shares vs. MSCI EAFE Index)1.05
5-Year Beta (A shares vs. MSCI AC World ex-U.S. Index)1.01
* Source: FactSet
Source: Morningstar


  • Europe ex UK41.9%
  • Asia Pacific ex Japan28.7%
  • Japan18.3%
  • UK6.7%
  • North America4.5%
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)90.7%
  • Mid Cap ($2.5 to $12 B)9.3%
  • Small Cap (< $2.5 B)0.0%
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, State Street Fund 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.

To determine a fund's Morningstar Rating™, funds and other managed products with at least a three-year history are ranked in their categories by their Morningstar Risk-Adjusted Return scores. The top 10% receive 5 stars; the next 22.5%, 4 stars; the middle 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10% receive 1 star. The Risk-Adjusted Return accounts for variation in a managed product's monthly excess performance (excluding sales charges), placing more emphasis on downward variations and rewarding consistent performance. Other share classes may have different performance characteristics. © 2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Administrator: State Street Fund Services (Ireland) Limited,

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