Thornburg Investment Income Builder Fund

SYMBOL: TIBMX

Morningstar Rating • Info

Overall Morningstar Rating among 333 World Allocation funds, based on risk-adjusted returns for class R5 shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 5 stars, 5 stars and 5 stars among 333, 320 and 239 funds, as of 31 Oct 2024.

As of 31 Oct 2024

Fund Assets

$13.6 B

As of 31 Oct 2024

NAV

$25.82

As of 20 Nov 2024

Change

$-0.11

As of 20 Nov 2024

YTD NAV Performance

11.65%

As of 20 Nov 2024

Asset Category:

Multi-Asset

Fund Benchmark:

Investment Income Builder Blended Index

Portfolio Managers

Matt Burdett

Head of Equities and Managing Director

Brian McMahon

Vice Chairman, Chief Investment Strategist and Managing Director

Christian Hoffmann, CFA

Head of Fixed Income and Managing Director

Globally Diversified Income

Cultivating the growth of dividends for almost two decades

The Investment Income Builder Fund has been able to deliver a consistent income stream to clients while continuing to grow their principal.

We believe that the power of dividends combined with our active approach can serve two goals:

Help meet short-term funding needs, such as retirement income or foundation distributions.
Contribute significantly to long-term growth to help make a future income stream last.

To learn more, download our client-approved brochure or continue to explore the rest of the page.

Download

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

Overview

Why Invest in This Fund?

Global, diversified multi-asset portfolio of income-producing stocks and bonds that seeks to deliver an attractive and growing income stream.
Proven bottom-up fundamental research process to identify dividend-paying companies with strong cash flows that have both the ability and willingness to pay and grow their dividends over time.
Highly active, flexible approach that allows us to go anywhere in the world to seek income.

Investment Objective

The fund’s goal is to provide investors with a level of current income which exceeds the average yield on U.S. stocks generally, and which will grow, subject to periodic fluctuations, over the years on a per share basis.

Investment Approach

The strategy is a multi-asset portfolio of global dividend-paying stocks selected via a bottom-up, fundamentals and valuation-sensitive process. The strategy seeks to generate an attractive and growing income stream, with capital appreciation over time by building a portfolio of companies that have the ability and willingness to generate cash flow and distribute dividends to its shareholders.

Returns

(As of 30 Sep 2024)

YTD

10y

Inception

Total Return (%)

15.36

25.01

10.54

9.52

7.12

9.40

Investment Income Builder Blended Index (%)

15.13

26.96

6.52

9.97

8.15

8.06

Morningstar Category Avg. (%)

11.06

19.88

3.79

6.18

4.82

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return (%)

13.50

25.32

8.52

8.75

6.93

9.28

Investment Income Builder Blended Index (%)

12.71

27.56

4.31

9.07

7.85

7.93

Morningstar Category Avg. (%)

8.39

19.6

2.08

5.36

4.51

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return (%)

15.36

25.01

35.08

57.59

98.90

606.37

Investment Income Builder Blended Index (%)

15.13

26.96

20.87

60.81

119.00

440.88

YTD

10y

Inception

Total Return (%)

13.50

25.32

27.79

52.12

95.41

594.95

Investment Income Builder Blended Index (%)

12.71

27.56

13.51

54.36

112.83

429.48

2018

2019

2020

2021

2022

2023

Total Return (%)

-4.49

17.85

-0.51

20.18

-8.10

18.00

Investment Income Builder Blended Index (%)

-6.42

22.87

14.41

15.64

-16.67

19.05

Source: Confluence

Periods less than one year are not annualized.

Thornburg Investment Income Builder Fund's Blended Index is composed of 25% Bloomberg U.S. Aggregate Total Return Value USD and 75% MSCI World Net Total Return USD Index, rebalanced monthly.

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than quoted.

The maximum sales charge for the equity funds' A shares is 4.50%. C shares include a 1% contingent deferred sales charge (CDSC) for the first year only. There is no up-front sales charge for class I or R shares.

Morningstar quartile ranking for Global Allocation category is based on total returns before sales charges for 1, 3, 5 and 10 years, among 354, 340, 327 and 244 funds, respectively, as of 30 Sep 2024.

Prior to inception of I and R share classes, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Share class inception dates: A shares, 24 Dec 2002; C shares, 24 Dec 2002; I shares, 3 Nov 2003; R3 shares, 1 Feb 2005; R4 shares, 1 Feb 2008; R5 shares, 1 Feb 2007; R6 shares, 10 Apr 2017.

Fund Fees

(As of 1 Feb 2024)

Gross Expense Ratio (%)

1.20

Net Expense Ratio (%)

1.03

Expense Ratios - Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

For more detailed information on fund expenses, please see the fund's prospectus.

Hypothetical Growth of $10,000

            Categories,R5 Shares,Investment Income Builder Blended Index
            2002-12-24,10000,10000
2002-12-31,9992,9966
2003-01-31,9853,9740
2003-02-28,9779,9646
2003-03-31,9918,9620
2003-04-30,10579,10280
2003-05-31,11258,10766
2003-06-30,11550,10900
2003-07-31,11656,10973
2003-08-31,11573,11168
2003-09-30,11853,11293
2003-10-31,12390,11768
2003-11-30,12470,11909
2003-12-31,13236,12498
2004-01-31,13440,12674
2004-02-29,13652,12867
2004-03-31,13710,12828
2004-04-30,13354,12547
2004-05-31,13375,12620
2004-06-30,13681,12832
2004-07-31,13419,12550
2004-08-31,13697,12651
2004-09-30,13957,12839
2004-10-31,14113,13102
2004-11-30,14655,13592
2004-12-31,15516,14012
2005-01-31,15348,13798
2005-02-28,15859,14105
2005-03-31,15728,13882
2005-04-30,15549,13702
2005-05-31,15672,13921
2005-06-30,16047,14031
2005-07-31,16447,14366
2005-08-31,16396,14494
2005-09-30,16690,14739
2005-10-31,16211,14441
2005-11-30,16578,14818
2005-12-31,16921,15100
2006-01-31,17747,15605
2006-02-28,17924,15601
2006-03-31,18498,15820
2006-04-30,19076,16173
2006-05-31,18589,15754
2006-06-30,18577,15759
2006-07-31,18956,15886
2006-08-31,19292,16256
2006-09-30,19431,16437
2006-10-31,19984,16917
2006-11-30,20574,17277
2006-12-31,21093,17515
2007-01-31,21304,17669
2007-02-28,21210,17668
2007-03-31,21873,17910
2007-04-30,22696,18527
2007-05-31,23535,18881
2007-06-30,23525,18758
2007-07-31,23282,18486
2007-08-31,23628,18532
2007-09-30,24839,19228
2007-10-31,25938,19713
2007-11-30,25110,19198
2007-12-31,25003,19025
2008-01-31,23185,18015
2008-02-29,23212,17943
2008-03-31,22872,17829
2008-04-30,23484,18523
2008-05-31,23550,18700
2008-06-30,21803,17578
2008-07-31,21475,17252
2008-08-31,21110,17112
2008-09-30,19308,15528
2008-10-31,16357,13228
2008-11-30,15715,12693
2008-12-31,16386,13117
2009-01-31,15412,12226
2009-02-28,14416,11276
2009-03-31,15044,11953
2009-04-30,16373,12973
2009-05-31,18134,13878
2009-06-30,18590,13851
2009-07-31,19757,14787
2009-08-31,20589,15283
2009-09-30,21472,15780
2009-10-31,21502,15589
2009-11-30,22018,16117
2009-12-31,22450,16271
2010-01-31,22152,15829
2010-02-28,22437,16011
2010-03-31,23385,16749
2010-04-30,23456,16795
2010-05-31,21955,15624
2010-06-30,21754,15283
2010-07-31,23154,16253
2010-08-31,22972,15850
2010-09-30,24114,16963
2010-10-31,24973,17452
2010-11-30,24479,17145
2010-12-31,25540,18044
2011-01-31,25992,18355
2011-02-28,26618,18848
2011-03-31,26638,18712
2011-04-30,27606,19367
2011-05-31,27314,19129
2011-06-30,26949,18888
2011-07-31,26599,18706
2011-08-31,25605,17786
2011-09-30,24280,16666
2011-10-31,25709,17964
2011-11-30,25415,17631
2011-12-31,25703,17672
2012-01-31,26426,18376
2012-02-29,27031,19048
2012-03-31,27052,19205
2012-04-30,26989,19095
2012-05-31,25569,17902
2012-06-30,26780,18588
2012-07-31,27393,18831
2012-08-31,27743,19192
2012-09-30,28269,19594
2012-10-31,28409,19505
2012-11-30,28306,19700
2012-12-31,28688,19971
2013-01-31,30093,20699
2013-02-28,30202,20750
2013-03-31,30980,21119
2013-04-30,32117,21671
2013-05-31,31475,21581
2013-06-30,30706,21098
2013-07-31,31296,21939
2013-08-31,30600,21560
2013-09-30,31886,22420
2013-10-31,33066,23124
2013-11-30,33000,23410
2013-12-31,33478,23749
2014-01-31,32708,23177
2014-02-28,34211,24078
2014-03-31,34551,24093
2014-04-30,34948,24329
2014-05-31,35576,24758
2014-06-30,36039,25093
2014-07-31,35983,24777
2014-08-31,36626,25255
2014-09-30,35514,24698
2014-10-31,35563,24878
2014-11-30,35877,25296
2014-12-31,35077,24996
2015-01-31,35283,24788
2015-02-28,36618,25819
2015-03-31,36291,25546
2015-04-30,37432,25972
2015-05-31,37188,26023
2015-06-30,36284,25499
2015-07-31,36786,25886
2015-08-31,34527,24592
2015-09-30,33024,23954
2015-10-31,34588,25378
2015-11-30,34263,25267
2015-12-31,33245,24913
2016-01-31,32215,23881
2016-02-29,31973,23790
2016-03-31,33768,25055
2016-04-30,34290,25377
2016-05-31,34690,25485
2016-06-30,34635,25386
2016-07-31,35537,26230
2016-08-31,35854,26239
2016-09-30,35838,26340
2016-10-31,35301,25907
2016-11-30,35710,26033
2016-12-31,36480,26510
2017-01-31,36607,27003
2017-02-28,37274,27610
2017-03-31,37844,27827
2017-04-30,38063,28189
2017-05-31,38909,28691
2017-06-30,38956,28766
2017-07-31,39779,29314
2017-08-31,39759,29410
2017-09-30,40576,29870
2017-10-31,40579,30298
2017-11-30,41607,30781
2017-12-31,41944,31128
2018-01-31,43343,32271
2018-02-28,41293,31192
2018-03-31,40950,30732
2018-04-30,41799,30940
2018-05-31,41290,31141
2018-06-30,41293,31120
2018-07-31,42998,31851
2018-08-31,42325,32198
2018-09-30,42999,32280
2018-10-31,41241,30439
2018-11-30,41965,30744
2018-12-31,40069,29131
2019-01-31,41857,30909
2019-02-28,42459,31601
2019-03-31,42917,32064
2019-04-30,44250,32919
2019-05-31,41974,31641
2019-06-30,44011,33304
2019-07-31,43787,33446
2019-08-31,43454,33149
2019-09-30,44825,33634
2019-10-31,45691,34301
2019-11-30,46008,35014
2019-12-31,47220,35794
2020-01-31,46502,35803
2020-02-29,43263,33694
2020-03-31,34972,30300
2020-04-30,37923,32918
2020-05-31,39307,34149
2020-06-30,40137,34880
2020-07-31,41088,36262
2020-08-31,41934,38006
2020-09-30,40527,37017
2020-10-31,39811,36124
2020-11-30,45406,39677
2020-12-31,46981,40952
2021-01-31,47721,40573
2021-02-28,49368,41207
2021-03-31,51027,42106
2021-04-30,51901,43659
2021-05-31,53139,44167
2021-06-30,52588,44738
2021-07-31,52632,45464
2021-08-31,53705,46291
2021-09-30,52300,44749
2021-10-31,54394,46647
2021-11-30,53813,45915
2021-12-31,56461,47358
2022-01-31,56791,45223
2022-02-28,55130,44239
2022-03-31,55316,44843
2022-04-30,52809,41623
2022-05-31,54713,41714
2022-06-30,50556,38840
2022-07-31,51592,41390
2022-08-31,50182,39800
2022-09-30,46169,36595
2022-10-31,49027,38448
2022-11-30,53134,40806
2022-12-31,51888,39461
2023-01-31,55068,41858
2023-02-28,54810,40833
2023-03-31,54730,42039
2023-04-30,56156,42655
2023-05-31,54570,42219
2023-06-30,56628,44097
2023-07-31,58220,45200
2023-08-31,57427,44318
2023-09-30,56514,42603
2023-10-31,55487,41508
2023-11-30,58790,44896
2023-12-31,61230,46979
2024-01-31,61468,47369
2024-02-29,61591,48708
2024-03-31,64752,49995
2024-04-30,63897,48286
2024-05-31,66412,50108
2024-06-30,66417,50991
2024-07-31,68939,51963
2024-08-31,70563,53180
2024-09-30,70637,54088
2024-10-31,69495,52948

Hypothetical Growth of $10,000

(As of 31 Oct 2024)

(Hypothetical Growth of $10,000 vs Investment Income Builder Blended Index)

                        Categories,R5 Shares,Investment Income Builder Blended Index
                        2023-10-31,10000,10000
2023-11-30,10599,10816
2023-12-31,11041,11318
2024-01-31,11084,11412
2024-02-29,11107,11735
2024-03-31,11677,12045
2024-04-30,11522,11633
2024-05-31,11976,12072
2024-06-30,11977,12285
2024-07-31,12432,12519
2024-08-31,12725,12812
2024-09-30,12738,13031
2024-10-31,12532,12756

                        Categories,R5 Shares,Investment Income Builder Blended Index
                        2021-10-31,10000,10000
2021-11-30,9893,9843
2021-12-31,10382,10152
2022-01-31,10443,9695
2022-02-28,10137,9484
2022-03-31,10172,9613
2022-04-30,9711,8923
2022-05-31,10061,8942
2022-06-30,9296,8326
2022-07-31,9487,8873
2022-08-31,9228,8532
2022-09-30,8490,7845
2022-10-31,9015,8242
2022-11-30,9770,8748
2022-12-31,9541,8459
2023-01-31,10126,8973
2023-02-28,10079,8754
2023-03-31,10064,9012
2023-04-30,10326,9144
2023-05-31,10035,9051
2023-06-30,10413,9453
2023-07-31,10706,9690
2023-08-31,10560,9501
2023-09-30,10392,9133
2023-10-31,10203,8898
2023-11-30,10810,9625
2023-12-31,11259,10071
2024-01-31,11303,10155
2024-02-29,11326,10442
2024-03-31,11907,10718
2024-04-30,11750,10351
2024-05-31,12212,10742
2024-06-30,12213,10931
2024-07-31,12677,11140
2024-08-31,12975,11400
2024-09-30,12989,11595
2024-10-31,12779,11351

                        Categories,R5 Shares,Investment Income Builder Blended Index
                        2019-10-31,10000,10000
2019-11-30,10070,10208
2019-12-31,10336,10435
2020-01-31,10179,10438
2020-02-29,9470,9823
2020-03-31,7655,8834
2020-04-30,8301,9597
2020-05-31,8604,9955
2020-06-30,8786,10169
2020-07-31,8994,10571
2020-08-31,9179,11080
2020-09-30,8871,10792
2020-10-31,8715,10531
2020-11-30,9939,11567
2020-12-31,10284,11939
2021-01-31,10446,11828
2021-02-28,10806,12013
2021-03-31,11170,12275
2021-04-30,11361,12728
2021-05-31,11632,12876
2021-06-30,11511,13043
2021-07-31,11521,13254
2021-08-31,11756,13495
2021-09-30,11448,13046
2021-10-31,11907,13599
2021-11-30,11780,13386
2021-12-31,12359,13806
2022-01-31,12432,13184
2022-02-28,12068,12897
2022-03-31,12109,13073
2022-04-30,11560,12135
2022-05-31,11977,12161
2022-06-30,11067,11323
2022-07-31,11293,12067
2022-08-31,10985,11603
2022-09-30,10106,10669
2022-10-31,10732,11209
2022-11-30,11631,11896
2022-12-31,11358,11504
2023-01-31,12054,12203
2023-02-28,11998,11904
2023-03-31,11980,12256
2023-04-30,12292,12435
2023-05-31,11945,12308
2023-06-30,12396,12856
2023-07-31,12744,13177
2023-08-31,12571,12920
2023-09-30,12371,12420
2023-10-31,12146,12101
2023-11-30,12869,13089
2023-12-31,13403,13696
2024-01-31,13455,13810
2024-02-29,13482,14200
2024-03-31,14174,14575
2024-04-30,13987,14077
2024-05-31,14538,14608
2024-06-30,14539,14866
2024-07-31,15091,15149
2024-08-31,15446,15504
2024-09-30,15462,15768
2024-10-31,15212,15436

                        Categories,R5 Shares,Investment Income Builder Blended Index
                        2014-10-31,10000,10000
2014-11-30,10089,10168
2014-12-31,9863,10047
2015-01-31,9921,9964
2015-02-28,10296,10378
2015-03-31,10204,10268
2015-04-30,10525,10440
2015-05-31,10457,10460
2015-06-30,10203,10249
2015-07-31,10343,10405
2015-08-31,9708,9885
2015-09-30,9286,9628
2015-10-31,9725,10201
2015-11-30,9634,10156
2015-12-31,9348,10014
2016-01-31,9058,9599
2016-02-29,8990,9563
2016-03-31,9495,10071
2016-04-30,9642,10200
2016-05-31,9754,10244
2016-06-30,9739,10204
2016-07-31,9992,10543
2016-08-31,10081,10547
2016-09-30,10077,10587
2016-10-31,9926,10413
2016-11-30,10041,10464
2016-12-31,10258,10656
2017-01-31,10293,10854
2017-02-28,10481,11098
2017-03-31,10641,11185
2017-04-30,10703,11331
2017-05-31,10940,11532
2017-06-30,10954,11563
2017-07-31,11185,11783
2017-08-31,11179,11822
2017-09-30,11409,12007
2017-10-31,11410,12179
2017-11-30,11699,12373
2017-12-31,11794,12512
2018-01-31,12187,12972
2018-02-28,11611,12538
2018-03-31,11514,12353
2018-04-30,11753,12437
2018-05-31,11610,12517
2018-06-30,11611,12509
2018-07-31,12090,12803
2018-08-31,11901,12942
2018-09-30,12091,12975
2018-10-31,11596,12235
2018-11-30,11800,12358
2018-12-31,11267,11710
2019-01-31,11769,12424
2019-02-28,11939,12702
2019-03-31,12067,12888
2019-04-30,12442,13232
2019-05-31,11802,12718
2019-06-30,12375,13387
2019-07-31,12312,13444
2019-08-31,12219,13325
2019-09-30,12604,13519
2019-10-31,12847,13788
2019-11-30,12937,14074
2019-12-31,13277,14388
2020-01-31,13075,14391
2020-02-29,12165,13544
2020-03-31,9833,12179
2020-04-30,10663,13231
2020-05-31,11053,13726
2020-06-30,11286,14020
2020-07-31,11553,14576
2020-08-31,11791,15277
2020-09-30,11395,14879
2020-10-31,11194,14520
2020-11-30,12767,15948
2020-12-31,13210,16461
2021-01-31,13418,16309
2021-02-28,13881,16563
2021-03-31,14348,16925
2021-04-30,14593,17549
2021-05-31,14942,17753
2021-06-30,14787,17983
2021-07-31,14799,18274
2021-08-31,15101,18607
2021-09-30,14706,17987
2021-10-31,15294,18750
2021-11-30,15131,18456
2021-12-31,15876,19036
2022-01-31,15969,18178
2022-02-28,15502,17782
2022-03-31,15554,18025
2022-04-30,14849,16731
2022-05-31,15384,16767
2022-06-30,14216,15612
2022-07-31,14507,16637
2022-08-31,14110,15998
2022-09-30,12982,14710
2022-10-31,13785,15454
2022-11-30,14940,16402
2022-12-31,14590,15861
2023-01-31,15484,16825
2023-02-28,15412,16413
2023-03-31,15389,16898
2023-04-30,15790,17145
2023-05-31,15344,16970
2023-06-30,15923,17725
2023-07-31,16370,18168
2023-08-31,16148,17814
2023-09-30,15891,17124
2023-10-31,15602,16684
2023-11-30,16531,18046
2023-12-31,17217,18883
2024-01-31,17284,19040
2024-02-29,17318,19579
2024-03-31,18207,20096
2024-04-30,17967,19409
2024-05-31,18674,20141
2024-06-30,18675,20496
2024-07-31,19384,20887
2024-08-31,19841,21376
2024-09-30,19862,21741
2024-10-31,19541,21283

The Hypothetical Growth graph compares a hypothetical investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Distributions

            Categories,Total ($)
            2007-03-31,0.10998
2007-06-30,0.20409
2007-09-30,0.23354
2007-11-19,0.46552
2007-12-31,0.38442
2008-03-31,0.19164
2008-06-30,0.23370
2008-09-30,0.27591
2008-12-31,0.38166
2009-03-31,0.19153
2009-06-30,0.25563
2009-09-30,0.29244
2009-12-31,0.35856
2010-03-31,0.20924
2010-06-30,0.26274
2010-09-30,0.34316
2010-12-31,0.37393
2011-03-31,0.22009
2011-06-30,0.27163
2011-09-30,0.33391
2011-12-31,0.38647
2012-03-31,0.22540
2012-06-30,0.27131
2012-09-30,0.29708
2012-12-31,0.37187
2013-03-31,0.22434
2013-06-30,0.26391
2013-09-30,0.26261
2013-12-31,0.25587
2014-03-31,0.23491
2014-06-30,0.25090
2014-09-30,0.28415
2014-12-31,0.27265
2015-03-31,0.17557
2015-06-30,0.21084
2015-09-30,0.21200
2015-12-31,0.26368
2016-03-31,0.18014
2016-06-30,0.19546
2016-09-30,0.20549
2016-12-31,0.22665
2017-03-31,0.18041
2017-06-30,0.21109
2017-09-30,0.27209
2017-12-31,0.30781
2018-03-31,0.19060
2018-06-30,0.20959
2018-09-30,0.24855
2018-12-31,0.28944
2019-03-31,0.19803
2019-06-30,0.22431
2019-09-30,0.25834
2019-12-31,0.31171
2020-03-31,0.19826
2020-06-30,0.19699
2020-09-30,0.21980
2020-12-31,0.30038
2021-03-31,0.23295
2021-06-30,0.28416
2021-09-30,0.31996
2021-12-31,0.38126
2022-01-31,0.06552
2022-03-31,0.20791
2022-06-30,0.25960
2022-09-30,0.29970
2022-12-31,0.39856
2023-03-31,0.21762
2023-06-30,0.25936
2023-09-30,0.29873
2023-12-31,0.37632
2024-03-31,0.23365
2024-06-30,0.26529
2024-09-30,0.30090

            Ex-Date, Payable Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
2007-03-26,1175299200,0.10998,0.10998,0,0
2007-06-26,1183161600,0.20409,0.20409,0,0
2007-09-26,1191110400,0.23354,0.23354,0,0
2007-11-19,1195430400,0.46552,0,0.24776,0.21776
2007-12-26,1199059200,0.38442,0.38442,0,0
2008-03-26,1206921600,0.19164,0.19164,0,0
2008-06-26,1214784000,0.23370,0.23370,0,0
2008-09-26,1222732800,0.27591,0.27591,0,0
2008-12-26,1230681600,0.38166,0.38166,0,0
2009-03-26,1238457600,0.19153,0.19153,0,0
2009-06-26,1246320000,0.25563,0.25563,0,0
2009-09-25,1254268800,0.29244,0.29244,0,0
2009-12-24,1262217600,0.35856,0.35856,0,0
2010-03-26,1269993600,0.20924,0.20924,0,0
2010-06-25,1277856000,0.26274,0.26274,0,0
2010-09-24,1285804800,0.34316,0.34316,0,0
2010-12-27,1293753600,0.37393,0.37393,0,0
2011-03-25,1301529600,0.22009,0.22009,0,0
2011-06-24,1309392000,0.27163,0.27163,0,0
2011-09-26,1317340800,0.33391,0.33391,0,0
2011-12-23,1325289600,0.38647,0.38647,0,0
2012-03-26,1333152000,0.22540,0.22540,0,0
2012-06-25,1341014400,0.27131,0.27131,0,0
2012-09-24,1348963200,0.29708,0.29708,0,0
2012-12-24,1356912000,0.37187,0.37187,0,0
2013-03-22,1364688000,0.22434,0.22434,0,0
2013-06-24,1372550400,0.26391,0.26391,0,0
2013-09-24,1380499200,0.26261,0.26261,0,0
2013-12-24,1388448000,0.25587,0.25587,0,0
2014-03-25,1396224000,0.23491,0.23491,0,0
2014-06-24,1404086400,0.25090,0.25090,0,0
2014-09-24,1412035200,0.28415,0.28415,0,0
2014-12-24,1419984000,0.27265,0.27265,0,0
2015-03-25,1427760000,0.17557,0.17557,0,0
2015-06-24,1435622400,0.21084,0.21084,0,0
2015-09-24,1443571200,0.21200,0.21200,0,0
2015-12-24,1451520000,0.26368,0.26368,0,0
2016-03-24,1459382400,0.18014,0.18014,0,0
2016-06-24,1467244800,0.19546,0.19546,0,0
2016-09-26,1475193600,0.20549,0.20549,0,0
2016-12-23,1483142400,0.22665,0.22665,0,0
2017-03-24,1490918400,0.18041,0.18041,0,0
2017-06-23,1498780800,0.21109,0.21109,0,0
2017-09-22,1506729600,0.27209,0.27209,0,0
2017-12-27,1514678400,0.30781,0.30781,0,0
2018-03-23,1522454400,0.19060,0.19060,0,0
2018-06-22,1530316800,0.20959,0.20959,0,0
2018-09-21,1538265600,0.24855,0.24855,0,0
2018-12-26,1546214400,0.28944,0.28944,0,0
2019-03-22,1553990400,0.19803,0.19803,0,0
2019-06-21,1561852800,0.22431,0.22431,0,0
2019-09-20,1569801600,0.25834,0.25834,0,0
2019-12-27,1577750400,0.31171,0.31171,0,0
2020-03-19,1585612800,0.19826,0.19826,0,0
2020-06-18,1593475200,0.19699,0.19699,0,0
2020-09-17,1601424000,0.21980,0.21980,0,0
2020-12-28,1609372800,0.30038,0.30038,0,0
2021-03-18,1617148800,0.23295,0.23295,0,0
2021-06-17,1625011200,0.28416,0.28416,0,0
2021-09-16,1632960000,0.31996,0.31996,0,0
2021-12-27,1640908800,0.38126,0.38126,0,0
2022-01-06,1643587200,0.06552,0.06552,0,0
2022-03-17,1648684800,0.20791,0.20791,0,0
2022-06-16,1656547200,0.25960,0.25960,0,0
2022-09-15,1664496000,0.29970,0.29970,0,0
2022-12-27,1672444800,0.39856,0.39856,0,0
2023-03-16,1680220800,0.21762,0.21762,0,0
2023-06-15,1688083200,0.25936,0.25936,0,0
2023-09-14,1696032000,0.29873,0.29873,0,0
2023-12-26,1703980800,0.37632,0.37632,0,0
2024-03-21,1711843200,0.23365,0.23365,0,0
2024-06-20,1719705600,0.26529,0.26529,0,0
2024-09-19,1727654400,0.30090,0.30090,0,0

Distributions

(As of 19 Sep 2024)

Ex-Date

Payable Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

26 Mar 2007

31 Mar 2007

0.10998

—

26 Jun 2007

30 Jun 2007

0.20409

—

26 Sep 2007

30 Sep 2007

0.23354

—

19 Nov 2007

0.46552

—

0.24776

0.21776

26 Dec 2007

31 Dec 2007

0.38442

—

26 Mar 2008

31 Mar 2008

0.19164

—

26 Jun 2008

30 Jun 2008

0.23370

—

26 Sep 2008

30 Sep 2008

0.27591

—

26 Dec 2008

31 Dec 2008

0.38166

—

26 Mar 2009

31 Mar 2009

0.19153

—

26 Jun 2009

30 Jun 2009

0.25563

—

25 Sep 2009

30 Sep 2009

0.29244

—

24 Dec 2009

31 Dec 2009

0.35856

—

26 Mar 2010

31 Mar 2010

0.20924

—

25 Jun 2010

30 Jun 2010

0.26274

—

24 Sep 2010

30 Sep 2010

0.34316

—

27 Dec 2010

31 Dec 2010

0.37393

—

25 Mar 2011

31 Mar 2011

0.22009

—

24 Jun 2011

30 Jun 2011

0.27163

—

26 Sep 2011

30 Sep 2011

0.33391

—

23 Dec 2011

31 Dec 2011

0.38647

—

26 Mar 2012

31 Mar 2012

0.22540

—

25 Jun 2012

30 Jun 2012

0.27131

—

24 Sep 2012

30 Sep 2012

0.29708

—

24 Dec 2012

31 Dec 2012

0.37187

—

22 Mar 2013

31 Mar 2013

0.22434

—

24 Jun 2013

30 Jun 2013

0.26391

—

24 Sep 2013

30 Sep 2013

0.26261

—

24 Dec 2013

31 Dec 2013

0.25587

—

25 Mar 2014

31 Mar 2014

0.23491

—

24 Jun 2014

30 Jun 2014

0.25090

—

24 Sep 2014

30 Sep 2014

0.28415

—

24 Dec 2014

31 Dec 2014

0.27265

—

25 Mar 2015

31 Mar 2015

0.17557

—

24 Jun 2015

30 Jun 2015

0.21084

—

24 Sep 2015

30 Sep 2015

0.21200

—

24 Dec 2015

31 Dec 2015

0.26368

—

24 Mar 2016

31 Mar 2016

0.18014

—

24 Jun 2016

30 Jun 2016

0.19546

—

26 Sep 2016

30 Sep 2016

0.20549

—

23 Dec 2016

31 Dec 2016

0.22665

—

24 Mar 2017

31 Mar 2017

0.18041

—

23 Jun 2017

30 Jun 2017

0.21109

—

22 Sep 2017

30 Sep 2017

0.27209

—

27 Dec 2017

31 Dec 2017

0.30781

—

23 Mar 2018

31 Mar 2018

0.19060

—

22 Jun 2018

30 Jun 2018

0.20959

—

21 Sep 2018

30 Sep 2018

0.24855

—

26 Dec 2018

31 Dec 2018

0.28944

—

22 Mar 2019

31 Mar 2019

0.19803

—

21 Jun 2019

30 Jun 2019

0.22431

—

20 Sep 2019

30 Sep 2019

0.25834

—

27 Dec 2019

31 Dec 2019

0.31171

—

19 Mar 2020

31 Mar 2020

0.19826

—

18 Jun 2020

30 Jun 2020

0.19699

—

17 Sep 2020

30 Sep 2020

0.21980

—

28 Dec 2020

31 Dec 2020

0.30038

—

18 Mar 2021

31 Mar 2021

0.23295

—

17 Jun 2021

30 Jun 2021

0.28416

—

16 Sep 2021

30 Sep 2021

0.31996

—

27 Dec 2021

31 Dec 2021

0.38126

—

6 Jan 2022

31 Jan 2022

0.06552

—

17 Mar 2022

31 Mar 2022

0.20791

—

16 Jun 2022

30 Jun 2022

0.25960

—

15 Sep 2022

30 Sep 2022

0.29970

—

27 Dec 2022

31 Dec 2022

0.39856

—

16 Mar 2023

31 Mar 2023

0.21762

—

15 Jun 2023

30 Jun 2023

0.25936

—

14 Sep 2023

30 Sep 2023

0.29873

—

26 Dec 2023

31 Dec 2023

0.37632

—

21 Mar 2024

31 Mar 2024

0.23365

—

20 Jun 2024

30 Jun 2024

0.26529

—

19 Sep 2024

30 Sep 2024

0.30090

—

Fund Facts

(As of 31 Oct 2024)

Net Fund Assets

$13.6 B

Benchmark

Investment Income Builder Blended Index

Morningstar Category

World Allocation

Fund Symbol

TIBMX

Share Class

Share Class Inception Date

1 Feb 2007

Number of Holdings

344

Portfolio Turnover

25%

Distribution Frequency

Quarterly

30-Day SEC Yield (Subsidized)

3.23%

30-Day SEC Yield (Unsubsidized)

3.08%

Characteristics

Portfolio

(As of 31 Oct 2024)

Portfolio

Benchmark

Weighted Average Market Cap

$185.7 B

$716.4 B

Median Market Cap

$50.0 B

$21.1 B

Price to Earnings - Forward 1YR

10.9x

20.3x

Price to Earnings - Trailing 12 Months

14.4x

22.9x

Price to Cash Flow

5.5x

14.3x

Price to Book Value

1.5x

3.4x

Return on Assets - 5 YR

6.0%

10.1%

Portfolio

Benchmark

Return on Equity - 5 YR

15.9%

33.0%

Historical 3YR Sales Growth

10.1%

17.1%

Active Share

92.0%

—

Effective Duration

4.1 Yrs

6.1 Yrs

Average Effective Maturity

6.5 Yrs

8.3 Yrs

Weighted Average Coupon

2.9%

3.4%

Yield to Worst

8.0%

4.7%

Risk & Return profile

(As of 30 Sep 2024)

10y

Annualized Alpha (%)

5.22

-0.04

-0.64

Beta

0.81

1.01

1.00

R-Squared (%)

77.53

78.15

79.91

Standard Deviation (%)

12.98

16.12

13.09

Sharpe Ratio

0.54

0.45

0.43

Information Ratio

0.63

-0.04

-0.15

Up Capture (%)

95.03

93.90

94.45

Down Capture (%)

72.38

92.41

97.90

Past performance does not guarantee future results.

Risk & Return Profile metrics are based on the I share class.

Portfolio

Top Holdings

(As of 30 Sep 2024)

Name

Ticker/Symbol

Sector

Weight %

Orange S.A.

ORA

Communication Services

5.6

Broadcom, Inc.

AVGO

Information Technology

4.4

Taiwan Semiconductor Manufacturing Co. Ltd.

2330

Information Technology

3.9

TotalEnergies SE

TTE

Energy

3.9

AT&T, Inc.

Communication Services

3.7

NN Group N.V.

Financials

3.3

Enel SpA

ENEL

Utilities

3.3

BNP Paribas S.A.

BNP

Financials

3.2

Tesco plc

TSCO

Consumer Staples

2.9

Citigroup, Inc.

Financials

2.8

Name

Ticker/Symbol

Sector

Weight %

Telefonica Emisiones S.A.

87938WAC7

SE_CORPORATE_BOND

0.7

Digicel Intermediate Holdings Ltd. / Digicel International Finance Ltd. / Difl US

ZF7746216

SE_CORPORATE_BOND

0.3

Vector Group Ltd.

92240MBJ6

SE_CORPORATE_BOND

0.2

Transcontinental Gas Pipe Line Co., LLC

893574AH6

SE_CORPORATE_BOND

0.2

Deutsche Telekom International Finance BV

25156PAC7

SE_CORPORATE_BOND

0.2

KeHE Distributors, LLC/ KeHE Finance Corp. / NextWave Distribution, Inc.

487526AC9

SE_CORPORATE_BOND

0.2

Kinder Morgan, Inc.

49456BAG6

SE_CORPORATE_BOND

0.2

LendingPoint 2020-REV1 Asset Securitization Trust

52606YAC8

Asset Backed Securities

0.2

Enstar Finance, LLC

29360AAA8

SE_CORPORATE_BOND

0.1

College Ave Student Loans 2023-A, LLC

193938107

Asset Backed Securities

0.1

Download Holdings

Portfolio holdings are subject to change daily.

Exposure Breakdown

(As of 31 Oct 2024)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Financials

22.7

15.8

Communication Services

19.3

7.8

Information Technology

14.5

25.0

Health Care

11.9

11.4

Energy

10.1

4.0

Utilities

7.8

2.7

Consumer Staples

4.2

6.3

Materials

3.8

3.6

Industrials

2.9

11.0

Consumer Discretionary

2.4

10.2

Real Estate

0.4

2.3

Sector Allocation

Fund (%)

Financials

22.7

Communication Services

19.3

Information Technology

14.5

Health Care

11.9

Energy

10.1

Utilities

7.8

Consumer Staples

4.2

Materials

3.8

Industrials

2.9

Consumer Discretionary

2.4

Real Estate

0.4

Top 10 Industries

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

Telecommunication Services

19.1

1.4

Banks

11.6

5.9

Pharmaceuticals, Biotechnology & Life Sciences

10.4

7.4

Semiconductors & Semiconductor Equipment

10.3

9.0

Energy

10.2

4.0

Utilities

7.7

2.7

Financial Services

6.0

6.8

Insurance

5.7

3.2

Materials

3.8

3.6

Consumer Staples Distribution & Retail

3.5

1.8

Top 10 Industries

Fund (%)

Telecommunication Services

19.1

Banks

11.6

Pharmaceuticals, Biotechnology & Life Sciences

10.4

Semiconductors & Semiconductor Equipment

10.3

Energy

10.2

Utilities

7.7

Financial Services

6.0

Insurance

5.7

Materials

3.8

Consumer Staples Distribution & Retail

3.5

Top 10 Countries

Fund (%)

Benchmark (%)

Region

Portfolio

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

United States

35.8

78.0

North America

France

12.8

2.1

Europe ex UK

United Kingdom

10.7

2.9

Italy

5.2

0.5

Europe ex UK

Netherlands

4.5

0.9

Europe ex UK

Germany

4.3

1.7

Europe ex UK

Taiwan

4.2

—

Asia Pacific ex Japan

Switzerland

3.3

1.8

Europe ex UK

Spain

2.8

0.6

Europe ex UK

Canada

2.6

North America

Top 10 Countries

Fund (%)

United States

35.8

France

12.8

United Kingdom

10.7

Italy

5.2

Netherlands

4.5

Germany

4.3

Taiwan

4.2

Switzerland

3.3

Spain

2.8

Canada

2.6

Composition

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

90%

Equity

83.6

75.0

Fixed Income

10.6

25.0

Cash & Cash Equivalents

5.3

—

Currency Forward

0.5

—

Composition

Fund (%)

Equity

83.6

Fixed Income

10.6

Cash & Cash Equivalents

5.3

Currency Forward

0.5

Capitalization

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Unassigned

0.0

—

Large Cap (> $12 B)

94.5

96.4

Mid Cap ($2.5 to $12 B)

3.4

3.6

Small Cap (< $2.5 B)

2.2

0.0

Capitalization

Fund (%)

Unassigned

0.0

Large Cap (> $12 B)

94.5

Mid Cap ($2.5 to $12 B)

3.4

Small Cap (< $2.5 B)

2.2

Credit Quality

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

AAA

4.8

3.3

1.0

4.0

4.6

11.6

BBB

37.8

11.7

21.6

0.0

13.6

—

CCC

0.1

—

Not Rated

16.4

—

Credit Quality

Fund (%)

AAA

4.8

1.0

4.6

BBB

37.8

21.6

13.6

CCC

0.1

Not Rated

16.4

Maturity

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Year 1

17.0

1.0

Year 2

11.9

12.2

Year 3

5.8

9.7

Year 4

17.3

8.8

Year 5

7.5

10.6

Year 6

8.2

6.1

Year 7

6.1

7.8

Year 8

1.6

6.7

Year 9

4.2

8.2

Year 10+

20.4

29.0

Maturity

Fund (%)

Year 1

17.0

Year 2

11.9

Year 3

5.8

Year 4

17.3

Year 5

7.5

Year 6

8.2

Year 7

6.1

Year 8

1.6

Year 9

4.2

Year 10+

20.4

Sector, Industry, and Market Capitalization are based on the portfolio's equity holdings. Credit Quality and Maturity are based on the portfolio’s fixed income holdings. Geography and Asset Class are based on the full portfolio.

Credit quality ratings use the highest rating available from either S&P Global Ratings or Moody's Investors Service. Unrated securities are evaluated by the firm using available data and their own analysis that may be similar to that of a nationally recognized rating agency; however, such determination is not equivalent to a national agency credit rating. "NR" = Not Rated.

Holdings with the Geography breakdown are classified by country of risk as determined by MSCI and Bloomberg.

Cash includes cash and cash equivalents. Weights are percentages of total portfolio unless otherwise noted.

The percentages may not add up to 100 due to rounding.

Portfolio Managers

Matt Burdett

Head of Equities and Managing Director

Matt Burdett is head of equities and a portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager. Matt was named a managing director and was promoted to portfolio manager in 2018 and to head of equities in 2024. Matt spent several years as a senior vice president and portfolio manager at PIMCO,…

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Brian McMahon

Vice Chairman, Chief Investment Strategist and Managing Director

Brian McMahon is chief investment strategist for Thornburg Investment Management. Brian is deeply respected for his market and investment insight and serves as a key voice for the investment team and Thornburg clients. He also co-manages Thornburg’s global equity portfolios and serves as vice chairman of Thornburg. Brian joined Thornburg in 1984 as chief investment officer; a role he held…

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Christian Hoffmann, CFA

Head of Fixed Income and Managing Director

Christian Hoffmann is head of fixed income and a portfolio manager for Thornburg Investment Management. He joined the firm in 2012 as a fixed income analyst and was promoted to associate portfolio manager in 2014. Christian was named a managing director in 2017, was promoted to portfolio manager in 2018, and to head of fixed income in 2024. Prior to…

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Semi-annual report

Prospectus

Statement of Additional Information (SAI)

Important Information

This communication is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments outside the United States, especially 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. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

The performance of any index is not indicative of the performance of any particular investment. 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 investments into any index.

Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment losses.

Neither the payment of, or increase in, dividends is guaranteed.

A bond credit rating assesses the financial ability of a debt issuer to make timely payments of principal and interest. Ratings of AAA (the highest), AA, A, and BBB are investment-grade quality. Ratings of BB, B, CCC, CC, C and D (the lowest) are considered below investment grade, speculative grade, or junk bonds.

Credit quality ratings for Thornburg Investment Income Builder used ratings from Moody's Investors Service. Where Moody's ratings are not available, we have used S&P Global Ratings. Where neither rating is available, we have used ratings from other nationally recognized statistical rating organizations (NRSROs).

Class R shares are limited to retirement platforms only.

Class I shares may not be available to all investors. Minimum investments for the I share class may be higher than those for other classes.

There is no guarantee that the Fund will meet its investment objectives.

To determine a fund's Morningstar Rating™, funds and other managed products with at least a three-year history are ranked in their categories by their Morningstar Risk-Adjusted Return scores. The top 10% receive 5 stars; the next 22.5%, 4 stars; the middle 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10% receive 1 star. The Risk-Adjusted Return accounts for variation in a managed product's monthly excess performance (excluding sales charges), placing more emphasis on downward variations and rewarding consistent performance. Other share classes may have different performance characteristics.

© 2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities LLC.

Thornburg Investment Management, Inc. mutual funds are sold through investment professionals including investment advisors, brokerage firms, bank trust departments, trust companies and certain other financial intermediaries. Thornburg Securities LLC (TSL) does not act as broker of record for investors.

“Bloomberg®” and the Bloomberg index(es) mentioned in this piece are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Thornburg Investment Management. Bloomberg is not affiliated with Thornburg, and Bloomberg does not approve, endorse, review, or recommend Thornburg. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Thornburg.

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Thornburg Investment Income Builder Fund

Portfolio Managers

Globally Diversified Income

Cultivating the growth of dividends for almost two decades

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Hypothetical Growth of $10,000

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

Matt Burdett

Brian McMahon

Christian Hoffmann, CFA

Literature

Important Information

More Insights

Market Concentration and the Fed’s Policy Outlook

Value vs. Growth: Does Another Fed Hike Matter?

The Value of Dividends and Munis to Stoke Income

Navigating Recession, the Fed, Inflation and Borrowing

Recession and Reversion to the Mean

How to Position Bond Portfolios as the Fed Ponders a Pivot

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Thornburg Investment Income Builder Fund

Portfolio Managers

Globally Diversified Income

Cultivating the growth of dividends for almost two decades

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Hypothetical Growth of $10,000

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

Matt Burdett

Brian McMahon

Christian Hoffmann, CFA

Literature

Important Information

More Insights

Market Concentration and the Fed’s Policy Outlook

Value vs. Growth: Does Another Fed Hike Matter?

The Value of Dividends and Munis to Stoke Income

Navigating Recession, the Fed, Inflation and Borrowing

Recession and Reversion to the Mean

How to Position Bond Portfolios as the Fed Ponders a Pivot