Quarterly Fund Fact Sheet


World-wide Investing
World-wide Investing Thornburg study of international investing
Thornburg Global Opportunities Fund

 

Overview

Investment Philosophy
Thornburg Global Opportunities Fund invests in equity securities from around the world. A flexible mandate allows the Fund to pursue long-term performance using a broad approach to geography, investing style, and market capitalization. The Fund is targeted towards investors who desire exposure to a portfolio of 30 to 40 holdings selected on a global basis.

Fund Objective
The Fund seeks long-term capital appreciation by investing in equity and debt securities of all types from issuers around the world. There is no guarantee that the Fund will meet its objectives.

Fact Sheet (PDF)
Holdings Commentary
Portfolio Manager Market Commentary

Fund Facts
Daily Prices as of 7/18/2008

NAV
16.15
Change($)
↑ 0.11

NAV
15.98
Change($)
↑ 0.11
Net Assets as of 6/30/08
$581.8 M
Capital Gains Paid Annually Tentative 2008 Capital Gains Distribution Schedule
Fiscal Year Nov 21, 2008

Benchmark
MSCI All Country World Index
Fund Numbers
Class A122
Class C672

CUSIP Numbers
Class A885-215-343
Class C885-215-335

Inception Date
Class A7/28/06
Class C7/28/06

Performance and Expenses

Average Annualized Total Returns
Important Information: Performance data quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that upon redemption, investor’s shares may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted.

Month Ended - 6/30/2008

Without sales charge -5.43 % N/A 22.13 %
With sales charge -9.67 % N/A 19.26 %
Without sales charge -6.10 % N/A 21.16 %
With sales charge -7.01 % N/A 21.16 %
MSCI All Country World Index -9.27 % N/A 6.46 %

Quarter Ended - 6/30/2008

Without sales charge -5.43 % N/A 22.13 %
With sales charge -9.67 % N/A 19.26 %
Without sales charge -6.10 % N/A 21.16 %
With sales charge -7.01 % N/A 21.16 %
MSCI All Country World Index -9.27 % N/A 6.46 %

The maximum sales charge for the Fund's A shares is 4.50%. The Fund's A shares carry a 30-day redemption fee of 1%. C shares include a 1% contingent deferred sales charge (CDSC) for the first year only.

* Inception Date 7/28/06 for the Class A and C Shares.

The Global Opportunities Fund may invest in shares of companies through initial public offerings (IPOs). IPOs have the potential to produce substantial gains and there is no assurance that the Fund will have continued access to profitable IPOs. As Fund assets grow, the impact of IPO investments on performance may decline.


Fund Operating Expenses
Total Operating Expenses
1.55 %
2.33 %
Actual Annual Operating Expenses as of 6/30/08
1.46 %
2.22 %

For more information regarding fund expenses, please see the fund prospectus.


Hypothetical Growth of $10,000 as of 3/31/08

Global Opportunities Fund Hypothetical Growth of $10,000


†The graph illustrates a hypothetical $10,000 investment in the Thornburg Global Opportunities Fund and how it compares to the performance of the MSCI All Country World Index for the stated time period. Returns reflect capital appreciation and the reinvestment of dividends and capital gains, if any, as well as all fees and expenses. Results reflect past performance and does not guarantee future results.

The Morgan Stanley Capital International All Country World Index (“MSCI ACWI”) is a market capitalization weighted index composed of over 2000 companies, and is representative of the market structure of 49 developed and emerging market countries in North and South America, Europe, and the Pacific Rim.  The index is calculated separately; without dividends, with gross dividends reinvested and estimated tax withheld, and with gross dividends reinvested, in both U.S. Dollars and local currency.

The performance of any index is not indicative of the performance of any particular investment. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. Investors may not make direct investments into any index.

Attributes and Holdings

Top Ten Countries - 6/30/08

Equity Country Breakdown

Top Ten Industries - 6/30/08
Telecom 17.6% Health Care 5.0%
Materials 12.6% Technology4.3%
Diversified Financials 10.8% Comm Serv. & Supplies3.8%
Energy 10.4% Media3.5%
Pharma & Biotech 8.5% Semiconductors3.4%
Top Ten Positions - 5/31/08
Security Symbol % of Portfolio

Freeport-McMoRan Copper & Gold FCX 5.3%
Dell Inc. DELL 4.9%
Eclipsys Corp. ECLP 4.9%
KKR Financial Holdings LLC KFN 4.2%
Huron Consulting Group, Inc. HURN 4.1%
America Movil SAB de C.V. AMX 4.0%
Eastern Platinum Ltd. ELR CN 3.8%
Comcast Corp. CMCSK 3.7%
China Mobile Ltd. 941 HK 3.6%
Mercator Minerals Ltd. ML CN 3.5%
Portfolio holdings are subject to change.
Key Portfolio Attributes - 6/30/08
Portfolio Price to Cash Flow* 11.2x
Portfolio Price to Book Value* 2.6x
Portfolio PE*
(trailing 12 months)
14.0x
Median Market Capitalization* $10.6 B
Holdings 31
Fund Assets $581.8 M
*Source: FactSet

Global Opportunities Fund Holdings
Global Opportunities Fund Holdings Commentary

Portfolio Composition
Capitalization Exposure

The Average P/E Ratio is a position-weighted average which describes the relationship between the price of a portfolio’s various stocks and their earnings per share.

Management

Portfolio Management Team

Global Opportunities Fund Co-Portfolio Managers

For biographies on the portfolio managers, click on their photo above.

Read Current Portfolio Manager Market Commentary

Vin Walden Brian McMahon
Scroll over boxes below to select another fund highlight

Important Information

Investments in the Fund carry risks including possible loss of principal. Investing outside the United States involves additional risks, such as currency fluctuations. Risks may be associated with investments in emerging markets including illiquidity and volatility. Additionally, the Fund invests a portion of the assets in small capitalization companies, which may increase the risk of greater price fluctuations. Funds invested in a limited number of holdings may expose an investor to greater volatility. Investments in the Fund are not FDIC insured, nor are they deposits of or guaranteed by a bank or any other entity.

There is no guarantee that the Fund will meet its investment objectives.

Carefully consider the Fund’s investment objectives, risks, sales charges, and expenses; these are found in the prospectus, which is available from your financial advisor or from our download library. Read it carefully before you invest or send money.

Blue spacer