Investment Objectives
The Strategy seeks long-term capital appreciation. As a secondary, non-fundamental goal, the Strategy seeks some current income. There is no guarantee that the Strategy will meet its objectives.
Principal Investment Strategies
The Strategy typically invests in a limited number of common stocks selected on a value basis using fundamental research. The Strategy is diversified to include basic value stocks, but also includes stocks of companies with consistent earning characteristics and emerging franchises when these issues are value priced. 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 | 3-Year | 5-Year | 10-Year | Inception† | |
| Domestic Equity Composite (Net) | 7.26% | -12.18% | -12.18% | 11.69% | -2.46% | 2.97% | 9.35% |
| Domestic Equity Composite (Gross) | 7.36% | -11.87% | -11.87% | 12.09% | -2.09% | 3.34% | 10.05% |
| S&P 500 Index | 11.82% | 2.11% | 2.11% | 14.11% | -0.25% | 2.92% | 6.81% |
Basic Value
Consistent Earners
Emerging Franchises
Cash † Inception 11/1/1995
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, APL, Vestmark, 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 Standard and Poor's 500 Stock Index (S&P 500) is an unmanaged index generally representative of the U.S. Stock Market, without regard to company size. 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 investment into any index.
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 from July 1, 1998 through December 31, 2010. The Domestic Equity Composite has been examined for the period from November 1, 1995 through December 31, 2010. Copies of the verification and 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 Domestic Equity 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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