Investment Objective
The Strategy seeks income and capital appreciation via a portfolio of companies that have the ability and willingness to pay dividends. There is no guarantee that the Strategy will meet its objectives.
Principal Investment Strategies
The Strategy primarily uses equity securities and hybrids from issuers around the world to invest for income and capital appreciation. A key consideration in security selection is the ability and willingness of the entity to pay dividends to investors. The Strategy attempts to maintain a flexible approach by investing across sectors, geographies and capital structures. The Strategy may invest in companies of any size. The Strategy also may invest in debt securities of any type.
Supplemental Information as of 12/31/2011
| Returns (annualized for periods over one year) | ||||
|---|---|---|---|---|
| QTR | YTD | 1-Year | Inception† | |
| Global Equity Income Composite (Net) | 7.21% | -1.96% | -1.96% | 18.55% |
| Global Equity Income Composite (Gross) | 7.32% | -1.62% | -1.62% | 19.10% |
| MSCI World Index | 7.59% | -5.54% | -5.54% | 15.02% |
Domestic Equity
Foreign Equity
Fixed Income
Cash | Ten Largest Countries |
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† Inception 2/1/2009
1 The performance data quoted represents past performance; it does not guarantee future results. The data provided is derived from gross-of-fee performance and does not reflect the deduction of management fees.
Valuations are computed and reported in U.S. dollars.
Source: Advent/APX and Thornburg.
Portfolio characteristics are derived using currently available data from independent research resources that are believed to be accurate.
Any securities, sectors, industries, countries or regions mentioned illustrate the holdings and activity in the portfolio as of the stated time period. Holdings are subject to change daily. Under no circumstances does the holdings information represent a recommendation to buy or sell any security. It should not be assumed that the investments in the securities were or will be profitable. The holdings identified do not represent all of the securities purchased, sold or recommended for advisory clients. To obtain a list of all securities recommended for the portfolio in the preceding year, please email a request to: mcg@thornburg.com.
The MSCI World Index is an unmanaged market-weighted index that consists of securities traded in 24 of the world’s most developed countries. Securities are listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand, and the Far East. The index is calculated with net dividends reinvested, in U.S. dollars.
Thornburg Investment Management, Inc. (the “Firm”) is an independent investment adviser registered under the Investment Advisers Act of 1940. The Firm’s clientele consists of mutual funds, commingled funds and taxable and non-taxable separately managed accounts in U.S., non-U.S. and global equity strategies and in U.S. fixed income strategies. The Firm has been verified for the period July 1, 1998 through December 31, 2010. The Global Equity Income Composite has been examined for the period from February 1, 2009 through December 31, 2010. Copies of the verification and the examination reports are available upon request. Additional information regarding the Firm’s policies for calculating and reporting performance results is available upon request.
Thornburg Investment Management claims compliance with the Global Investment Performance Standards (GIPS®)
Click here to view the Global Equity Income Composite GIPS compliant presentation.
To receive a complete list and description of Thornburg Investment Management's composites please contact MCG at mcg@thornburg.com.
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