Shareholder Guide

Classes of Shares

Most of the Thornburg Investment Management Funds are available in different classes of shares. Each share represents an equal, undivided interest in its Funds assets. The different classes of a particular Fund may have different sales charges and other expenses which may affect performance; however, the investment objectives in the portfolio are the same.

Class A Shares Class B Shares Class C Shares Class D Shares
Shares sold are subject to a front-end sales charge. Shares are sold at NAV
(Available only for the Value, International Value, and Limited Term U.S. Government Funds)
(purchases of $100,000 or more are not accepted)		 Shares are sold at NAV (purchases of $1,000,000 or more are not accepted) Shares are sold at NAV (Available only for the Intermediate New Mexico Fund)
Pays service and distribution fees. Pays service and distribution fees. Pays service and distribution fees. Pays service and distribution fees.
Lower annual expenses, therefore higher dividends than Class C and D Shares. Higher annual expenses, therefore lower dividends than Class A Shares. Convert to Class A Shares at the end of 8 years. Higher annual expenses, therefore lower dividends than Class A Shares. Higher annual expenses, therefore lower dividends than Class A Shares.
No redemption fees (special situations may apply). Carry a contingent deferred sales charge (CDSC) on shares redeemed within seven years of purchase (see table below). Carry a contingent deferred sales charge (CDSC) on shares redeemed within one year of purchase (see table below). No redemption fees.

There are certain situations in which Class A Shares can be purchased free of the front-end sales charge or at a reduced sales charge. Click HERE for details about these special situations.

CDSC Sales Charges for B Shares (Value, International Value, and Limited Term U.S. Government Funds only)

  B Share
CDSC Charge
One Year 5.00%
Two Years 4.25%
Three Years 3.50%
Four Years 2.75%
Five Years 2.00%
Six Years 1.25%
Seven Years 0.50%
Eight or More Years none

CDSC Sales Charges for C Shares

Fund Name C Share
CDSC Charge
Limited Term Municipal 0.5%
California Limited Term Municipal 0.5%
Limited Term US Government 0.5%
Limited Term Income 0.5%
Intermediate Municipal 0.6%
Strategic Income 1.0%
Value 1.0%
International Value 1.0%
Core Growth 1.0%
Investment Income Builder 1.0%
Global Opportunities 1.0%
International Growth 1.0%

Not all of the Funds are available in all classes of shares. The following table represents Fund Share availability.

Fund Name Class A Shares Class B Shares Class C Shares Class D Shares
Limited Term Municipal Yes No Yes No
California Limited Term Municipal Yes No Yes No
Limited Term Government Yes Yes Yes No
Limited Term Income Yes No Yes No
Intermediate Municipal Yes No Yes No
New Mexico Intermediate Municipal Yes No No Yes
New York Intermediate Municipal Yes No No No
Strategic Income Yes No Yes No
Value Yes Yes Yes No
International Value Yes Yes Yes No
Core Growth Yes No Yes No
Investment Income Builder Yes No Yes No
Global Opportunities Yes No Yes No
International Growth Yes No Yes No

 

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Important Information

Shares in the Fund carry risks including possible loss of principal. They are not deposits or obligations of, or guaranteed or endorsed by, any bank, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any government agency.

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.

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