Overall Lipper Rating for Preservation |
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Thornburg Limited Term Municipal Fund |
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Thornburg Intermediate Municipal Fund |
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Thornburg Limited Term U.S. Government Fund |
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Thornburg Limited Term Income Fund |
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Lipper ratings for Preservation reflect the funds’ historical loss avoidance relative to 4,127 other funds within the fixed income asset class, as of 12/31/09. The number of funds for the 3-year period is 4,127; for the 5-year period is 3,625; and for the 10-year period is 2,421.
The ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Preservation metric over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader, or a score of 5, for Preservation, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2009, Reuters, All Rights Reserved.
Options on Treasury securities are tracked by the MOVE (Merrill Option Volatility Estimate) index. It is often used to track how much traders expect Treasuries to move in a year. The MOVE Index at 100 would imply that treasuries are expected to fluctuate within a 100 basis point range over the next year. MOVE Index Source: Bloomberg and Thornburg.
Investments in the Funds carry risks, including possible loss of principal. Bond funds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The principal value of a bond will fluctuate relative to changes in interest rates, decreasing when interest rates rise. Unlike bonds, bond funds have ongoing fees and expenses. Funds invested in mortgage backed securities may bear additional risk. 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.
2008 Lipper Fund Awards were granted to the fund or family in each Lipper classification that consistently delivered the strongest risk-adjusted performance as of 12/31/07 (calculated with dividends reinvested and without sales charges). Lipper’s large firm universe is comprised of fund families with more than $28 billion in total net assets. Only fund families with at least five bond funds were eligible. Past performance does not guarantee future results. The individual funds may not have ranked number one in their categories.
