• International ADR Strategy
    2Q 2018 [Lei Wang, CFA, Di Zhou, CFA]
    We believe that our patience and diligence can be rewarded when volatility creates valuation opportunities.
  • Municipal Bond Strategies
    2Q 2018 [Christopher Ryon, CFA, Nicholos Venditti, CFA]
    At Thornburg, we are in the business of buying low and selling high, not buying high and crossing our fingers for higher.
  • Income and U.S. Government Bond Strategies
    2Q 2018 [Jason Brady, CFA, Lon Erickson, CFA, Jeff Klingelhofer, CFA]
    Stronger economic growth still gives us confidence to hold a healthy amount of credit, though we have lowered risk exposures in the portfolio over time as risk compensation has diminished.
  • U.S. Equity Strategy
    2Q 2018 [Connor Browne, CFA, Robert MacDonald, CFA]
    We believe our flexible approach to team organization, allowing the pursuit of investment ideas across sector and geography, keeps the work exciting.
  • All Cap Growth Strategy
    2Q 2018 [Greg Dunn]
    The stocks we own have the potential to grow rapidly because of secular or stock-specific factors that we think can help them sustainably compound business value over long time horizons.
  • International Growth ADR Strategy
    2Q 2018 [Greg Dunn, Sean Koung Sun, CFA]
    Our process and approach to investing remain consistent with a focus on high-quality companies with wide economic moats and low macroeconomic dependence.

Investments in the Strategy carry risks, including possible loss of principal. Carefully consider the Strategy’s investment objectives, risks, and expenses before investing. There is no guarantee that the portfolio will meet its investment objectives.