Thornburg Announces Strategic Enhancements Across UCITS Fund Range

• Reclassification of five UCITS funds to Article 8 under the EU Sustainable Finance Disclosure Regulation (“SFDR”).
• Management fee reductions and lower total operating expenses from 0.35% to 0.25% on several UCITS funds and share classes.
• Thornburg Investment Income Builder Fund (UCITS) has been repositioned as a global equity income strategy and renamed Thornburg Equity Income Builder Fund.

SANTA FE, NM and LONDON, UK — 1 May 2025 — Thornburg Investment Management, Inc. (“Thornburg”), a global investment firm that oversees US$47 billion¹ in client assets, today announced it has reclassified its UCITS suite of funds to Article 8 under the EU SFDR. This classification ensures that its UCITS funds will incorporate and promote environmental and social characteristics.

Thornburg also repositioned the Thornburg Investment Income Builder Fund (UCITS) to a global equity income strategy as part of the ongoing commitment to making the firm’s offerings more accessible to clients. The renamed fund, Thornburg Equity Income Builder Fund, clarifies that the portfolio consists primarily of global income-paying equity securities. The fund’s investment approach and day-to-day management remains unchanged, with the same experienced investment team continuing to apply their established process and philosophy from a strategy that began in 2003.

In addition, Thornburg is also pleased to announce investment management fee reductions effective from 1 April 2025 in several share classes of the funds, and a reduction of total operating expenses from 0.35% to 0.25% for Class A share classes of four funds.

“These strategic enhancements to our UCITS range reflect our commitment to serving clients and partners across the UK, Europe and Asia-Pacific,” said Mark Zinkula, CEO at Thornburg. “At Thornburg, we are dedicated to delivering value for clients through actively managed, high-conviction strategies that integrate meaningful ESG criteria, are competitively priced, and have a track record of strong performance.”

Jonathan Schuman, head of international at Thornburg, added: “Global equity income strategies continue to play an important role in investor portfolios. By repositioning Thornburg’s flagship Investment Income Builder Fund to the Thornburg Equity Income Builder Fund, we not only clarify the fund’s relevance in the current market environment, but we also broaden its accessibility to investors – all part of our overarching goal to deliver value to our clients and partners.”

Earlier this year, Thornburg announced that it has opened an office in the City of London and that Jon Dawson and Cornelia Sanders have joined the firm.

Learn more about Thornburg’s suite of UCITS funds.

The five Thornburg UCITS funds now categorized as Article 8 under SFDR regulations are:

• Thornburg Equity Income Builder Fund
• Thornburg Global Opportunities Fund
• Thornburg International Equity Fund
• Thornburg Limited Term Income Fund
• Thornburg Strategic Income Fund

Investment management fee reductions effective 1 April 2025:

The level of total operating expenses for each of the following share classes of the UCITS funds will be reduced from 0.35% to 0.25%:

About Thornburg

Thornburg Investment Management (“Thornburg”) is an active, high-conviction manager of equities, fixed income, multi-asset and alternative solutions. As a privately owned firm and with US$47 billion¹ in client assets as of 31 March 2025, Thornburg serves institutions, financial professionals and investors worldwide. The firm offers mutual funds, ETFs, closed-end funds, separate accounts and UCITS funds. Thornburg was founded in 1982 and is headquartered in Santa Fe, New Mexico with additional offices in Hong Kong and London. For more information, visit www.thornburg.com or call 877 215 1330.

Media Inquiries
Michael Corrao
Director of Global Communications
Thornburg Investment Management
Tel: +1 505 467 5345
Email: mcorrao@thornburg.com

Important Information

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. Portfolios investing in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The value of bonds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. Unlike bonds, bond funds have ongoing fees and expenses. Investments in mortgage-backed securities (MBS) may bear additional risk. Investments in the Funds are not insured, nor are they bank deposits or guaranteed by a bank or any other entity. For risks materially relevant to the Funds, please read the Funds’ Annual Report or Prospectus/Supplement available at www.thornburg.com/ucits.

The Funds are sub-funds of Thornburg Global Investment plc (“TGI”), an open-ended investment company with variable capital constituted as an umbrella fund with segregated liability between sub-funds, authorized and regulated by the Central Bank of Ireland (“CBI”) as an Undertaking for Collective Investments in Transferable Securities (“UCITS”). Authorization of TGI by the CBI is not an endorsement or guarantee by the CBI nor is the CBI responsible for the contents of any marketing material or the Funds’ prospectus, supplement or applicable Key Information Document (“KID”). Authorization by the CBI shall not constitute a warranty as to the performance of TGI and the CBI shall not be liable for the performance of TGI.

This does not constitute or contain an offer, solicitation, recommendation or investment advice with respect to the purchase of the Funds described herein or any security. The Funds’ shares may not be sold to citizens or residents of the United States or in any other state, country or jurisdiction where it would be unlawful to offer, solicit an offer for, or sell the shares. For information regarding the jurisdictions in which the Funds are registered or passported, please contact Thornburg at contactglobal@thornburg.com or +1.855.732.9301. Fund shares may be sold on a private placement basis depending on the jurisdiction. This should not be used or distributed in any jurisdiction, other than in those in which the Funds are authorized, where authorization for distribution is required. Thornburg is authorized by the Funds to facilitate the distribution of shares of the Funds in certain jurisdictions through dealers, referral agents, sub-distributors and other financial intermediaries. Any entity forwarding this, which is produced by Thornburg in the United States, to other parties takes full responsibility for ensuring compliance with applicable securities laws in connection with its distribution.

Before investing, investors should review the Funds’ full prospectus and supplement, together with the applicable KID and the most recent annual and semi-annual reports.

Copies of the Funds’ prospectus and supplement can be obtained from State Street Fund Services (Ireland) Limited, by visiting www.thornburg.com/ucits or by contacting the local paying or representative agent or local distributor in the jurisdictions in which the Funds are available for distribution, and are available in English.

The KIDs can be obtained from www.thornburg.com/ucits and are available in one of the official languages of each of the EU Member States into which the Funds have been notified for marketing under the Directive 2009/65/EC (the UCITS Directive).

In addition, a summary of investor rights is available from www.thornburg.com/ucits. The summary is available in English. The Funds are currently notified for marketing into a number of EU Member States under the UCITS Directive.

The Funds can terminate such notifications for any share class and/or the Fund at any time using the process contained in Article 93a of the UCITS Directive.

No securities commission or regulatory authority has in any way passed upon the merits of an investment in the Funds or the accuracy or adequacy of this information or the material contained herein or otherwise. Neither this or the Offering Documents have been approved in any jurisdiction where the Funds have not been registered for public offer and sale. This information is not, and under no circumstances is to be construed as the Offering Documents, a public offering or an offering memorandum as defined under applicable securities legislation. Application for shares may only be made by way of the Funds’ most recent Offering Documents.

There is no guarantee that the Funds will meet their investment objectives.

The Funds are actively managed and are not constrained by any benchmark.

For Argentina, Bolivia, Brazil, Chile, Mexico, Peru, Uruguay: This material is for informational purposes and is intended only for Investment Professionals, as that term is defined in each jurisdiction. This information relates to a foreign Fund which is not subject to any form of local regulation or licensing. No regulator, government authority, or other entities are responsible for reviewing or verifying, and have not reviewed or verified, this information, the merits of the Fund or services represented, the offering documents, or any other documents in connection with this Fund. Interests may not be offered or sold to the public and documents relating to this Fund (as well as the information contained herein) may not be supplied to the general public for purposes of a public offering or be used in connection with any offer or subscription for sale to the public.

For Denmark, Italy and Norway: The Fund is only available to professional investors.

For Germany: The local information agent is GerFIS – German Fund Information Service UG (Haftungsbeschränkt), which may be contacted at Zum Eichhagen 4, 21382 Brietlingen, Germany.

For Hong Kong: This document is issued by Thornburg Investment Management (Asia) Limited (“Company”), a wholly-owned subsidiary of Thornburg Investment Management, Inc. The Company is currently licensed with the Hong Kong SFC for Type 1 and Type 9 regulated activity, with the CE No.: BPQ208.

This material has not been reviewed nor endorsed by any regulatory authority in Hong Kong, including the Securities and Futures Commission, nor has a copy been registered with the Registrar of Companies in Hong Kong. Hong Kong residents are advised to exercise caution in relation to this information. This is directed at and intended for “Professional Investors” within the meaning of Part1 of Schedule 1 to the Securities and Futures Ordinance.

This material is for the confidential use of the recipient only and should not be given, forwarded or shown to any other person (other than employees, agents or consultants in connection with the recipient’s consideration thereof). The Company is authorized by the Fund to facilitate the distribution of shares in certain other jurisdictions through dealers, referral agents, sub-distributors and other financial intermediaries. Any entity forwarding this material to other parties takes full responsibility for ensuring compliance with applicable securities laws in connection with its distribution.

For Luxembourg: The local paying and representative agent is CACEIS Bank, Luxembourg Branch, which may be contacted at 5 Allée Scheffer, 2520 Luxembourg.

For Spain: The local representative is Allfunds Bank, S.A., which may be contacted at Estafeta, 6, La Moraleja, Complejo Plaza de la Fuente, Alcobendas, Madrid.

For Sweden: The local paying agent is Skandinaviska Enskilda Banken (publ) AB, which may be contacted at Kungsträdgårdsgatan 8 SE-106 40 Stockholm.

For Singapore: Recipients of this information in Singapore should note shares of the Fund may not be offered or sold, nor may this or any other information or material in connection with the offer or sale of such share be circulated or distributed, whether directly or indirectly, to any person in Singapore other than (i) to an institutional investor (as defined in Section 4A(1)(c) of the Securities and Futures Act (Cap. 289) of Singapore) (the SFA), (ii) to a relevant person as defined in Section 305 of the SFA or any person pursuant to an offer referred to in Section 305(2) of the SFA and in accordance with the conditions specified in Section 305 of the SFA, or (iii) pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.

For United Kingdom: 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. 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.

This communication is exclusively intended for persons who are Professional Clients or Eligible Counterparties for the purposes of the FCA Rules and other persons should not act or rely on it. This communication is not intended for use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

Manager: Waystone Management Company (Ireland) Limited | www.waystone.com | +353.1.619.2300

Administrator: State Street Fund Services (Ireland) Limited | ThornburgTA@statestreet.com | +353.1.242.5580

Distributor: Thornburg Investment Management, United States | global@thornburg.com | +1.855.732.9301

###

¹ Includes US$46 billion in assets under management and US$1 billion in assets under advisement as of 31 March 2025.