Thornburg Investment Management is an employee-owned investment management company based in Santa Fe, New Mexico with assets under management of over $31 billion (as of 3/31/09). Founded in 1982, the firm manages six equity funds, nine bond funds, and separate portfolios for select institutions and individuals.
At Thornburg, we strive to deliver consistent investment results for our shareholders. Our past success in this endeavor is grounded in our culture of placing investors first. While markets come in and out of favor, we believe that this commitment will enable us to service our most valued constituency – our investors – for the next 25 years and beyond.
The Thornburg Investment Philosophy
Thornburg Investment has a clear mission: to preserve and increase the real wealth of our investors. We seek to accomplish this through a range of equity strategies that redefine traditional measures of value and growth and through a family of bond strategies that focus on quality, stability and minimizing risk over time.
Thornburg employs a fundamental and comprehensive analytical approach to equity investing. Thornburg equity funds focus on a limited number of securities so that each holding can impact performance. The equity team searches for firms believed to have a promising future and seeks to buy shares of those companies at a discount to their intrinsic value.
On the bond side, we have always conducted fundamental, bottom-up research in an effort to identify bonds which we believe provide the best return for a given level of risk.
For a complete list of Thornburg Funds and the specific investment objectives, visit the Funds section of this web site.
Investments in the funds carry risks including possible loss of principal. Additional risks may be associated with the equity funds’ investments outside the United States, especially emerging markets, including currency fluctuations, illiquidity and volatility. Additionally, the equity funds may invest a portion of the assets in small capitalization companies, which may increase the risk of greater price fluctuations.
As with direct bond ownership, funds that invest in bonds are subject to certain risks including interest rate risk, credit risk, and inflation risk. The principal value of bond funds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. This effect is more pronounced for the longer term obligations in the Strategic Municipal Income Fund. Unlike bonds, bond funds have ongoing fees and expenses. The Limited Term Government and Strategic Income Funds invest a portion of assets in Mortgage Backed Securities, which are subject to pre-payment risk. This may reduce the potential for capital appreciation and may cause greater volatility in the Funds. Investments in lower rated and unrated municipal obligations in the Strategic Municipal Income Fund may be more sensitive to default, downgrades, and market volatility; these investments may also be less liquid than other municipal obligations. The Strategic Income and Strategic Municipal Income Funds may invest in derivatives, which are subject to the risks associated with the securities or other assets underlying the pool of securities, including illiquidity and difficulty in valuation. Additionally, the Strategic Income Fund invests in equity securities. Risks may be associated with investments outside the United States, especially emerging markets, including currency fluctuations, illiquidity and volatility. Equity investments in small capitalization companies may increase the risk of greater price fluctuations.
Investments in the funds are not FDIC insured, nor are they deposits of or guaranteed by a bank or any other entity.
Before investing, carefully consider the Fund’s investment goals, risks, charges, and expenses. For a prospectus containing this and other information, contact your financial advisor or visit our literature library. Read it carefully before investing.
