• Limited Term Income Fund
    4Q 2018 [Jason Brady, CFA, Lon Erickson, CFA, Jeff Klingelhofer, CFA]
    Patience is a virtue, and we see more attractive buying opportunities down the road. We’ll capitalize on them through our bottom-up, relative-value approach that we have found adds value for our clients.
  • Investment Income Builder Fund
    1Q 2019 [Jason Brady, CFA, Matt Burdett, Ben Kirby, CFA, Brian McMahon]
    Following the largest annual price declines since 2008 for U.S. and many other equity markets in the December 2018 quarter, prices bounced back by double-digit percentages in most global equity markets in the March quarter.
  • Global Opportunities Fund
    4Q 2018 [Brian McMahon, Vinson Walden, CFA]
    We believe the dispersion in equity returns across regions and sectors—or generally lower asset prices—could present opportunities for our investment framework in the years ahead. Patience and a long-term investment orientation have served the fund.
  • Global Quality Dividend Fund
    4Q 2018 [Matt Burdett, Miguel Oleaga, Vinson Walden, CFA]
    We believe the Fund’s structure—built on our core investment principles of flexibility, focus, and value—gives us a durable framework for value-added investing.
  • International Equity Fund
    4Q 2018 [Lei Wang, CFA, Di Zhou, CFA, FRM]
    Many of the macro concerns that impacted markets earlier in the year intensified in the fourth quarter: a potential U.S. Fed–led recession, the U.S.–China trade war, slowing growth in China, Brexit, etc.
  • Developing World Fund
    4Q 2018 [Ben Kirby, CFA, Charles Wilson, PHD]
    Our approach to emerging market investing is through a focused, yet diversified portfolio of attractively-priced, free-cash-flow generative stocks.
Important Information

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments in emerging markets, including currency fluctuations, illiquidity, volatility, and political and economic risks. Investments in small- and mid-capitalization companies may increase the risk of greater price fluctuations. Portfolios investing in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The value of bonds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. Unlike bonds, bond funds have ongoing fees and expenses. Investments in mortgage-backed securities (MBS) may bear additional risk. Investments in the Fund are not insured, nor are they bank deposits or guaranteed by a bank or any other entity.

The views expressed are subject to change and do not necessarily reflect the views of Thornburg Investment Management, Inc. This information should not be relied upon as a recommendation or investment advice and is not intended to predict the performance of any investment or market.

Any securities, sectors, or countries mentioned are for illustration purposes only. Holdings are subject to change. Under no circumstances does the information contained within represent a recommendation to buy or sell any security.

The Fund is a sub-fund of Thornburg Global Investment plc, an open-ended umbrella type investment company with segregated liability between sub-funds, authorised by the Central Bank of Ireland (CBI) on 25 November 2011 as an investment company pursuant to the UCITS Regulations. Authorisation of the Company by the CBI is not an endorsement or guarantee of the Company by the CBI nor is the CBI responsible for the contents of the Prospectus or KIID.

This material constitutes a financial promotion for the purposes of the Financial Services and Markets Act 2000 (the “Act”) and the handbook of rules and guidance issued from time to time by the FCA (the "FCA Rules"). This material is for information purposes only and does not constitute an offer to subscribe for or purchase any financial instrument. Thornburg Investment Management Ltd. ("TIM Ltd.") neither provides investment advice to, nor receives and transmits orders from, persons to whom this material is communicated nor does it carry on any other activities with or for such persons that constitute "MiFID or equivalent third country business" for the purposes of the FCA Rules. All information provided is not warranted as to completeness or accuracy and is subject to change without notice.

The Fund is offered solely to non-U.S. investors under the terms and conditions of the Fund’s current Prospectus. A copy of the full Prospectus and KIID for the Fund may be obtained by contacting the local Paying Agent through the Fund’s Transfer Agent, Brown Brothers Harriman Fund Administrator Services (Ireland) Limited or in the forms and literature section of this website. The Prospectus and KIID contain important information about the Fund and should be read carefully before investing.

This communication and any investment or service to which this material may relate does not constitute an offer or solicitation to invest in the Fund and is exclusively intended for persons who are Professional Clients or Eligible Counterparties for the purposes of the FCA Rules and other persons should not act or rely on it. This communication is not intended for use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

Please see our glossary for a definition of terms.

Administrator: Brown Brothers Harriman Fund Administration Services (Ireland) Limited, Ireland, BBH.Dublin.TA@bbh.com +353.1.603.6490