Thornburg New Mexico Intermediate Municipal Fund

SYMBOL: THNDX

Morningstar Rating • Info

Overall Morningstar Rating among 110 Muni Single State Intermediate funds, based on risk-adjusted returns for class D shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 3 stars, 2 stars and 1 star among 110, 108 and 96 funds, as of 30 Sep 2024.

As of 30 Sep 2024

Fund Assets

$94.5 M

As of 30 Sep 2024

NAV

$12.37

As of 1 Nov 2024

Change

$0.00

As of 1 Nov 2024

YTD NAV Performance

0.46%

As of 1 Nov 2024

Asset Category:

Municipal Bond

Fund Benchmark:

ICE BofA 3-15 Year U.S. Municipal Securities Index

Portfolio Managers

David Ashley, CFA

Portfolio Manager and Managing Director

John Bonnell, CFA

Portfolio Manager and Managing Director

Eve Lando, JD

Portfolio Manager and Managing Director

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

Overview

Why Invest in This Fund?

Actively managed diversified portfolio of municipal bonds issued by New Mexico entities with an average maturity of three to 10 years and average duration of four to six years.
Proven bottom-up fundamental approach that employs a relative value framework across sectors, issuers and revenue streams.
Tax-efficient fund seeks to provide New Mexico investors with income that is tax-exempt at the state and federal level while minimizing changes in its share value.

Investment Objective

The fund’s goal is to provide investors with as high a level of current income exempt from federal and New Mexico state individual income taxes as is consistent with preservation of capital. The fund also seeks to reduce share price volatility compared to longer-term bond portfolios.

Investment Approach

The fund is an actively managed diversified portfolio of municipal bonds issued by the state of New Mexico. The investment team aims to match municipal market structure and deal flow through a relative value framework that operates across geography, sectors, issuers and revenue streams. Operating as generalists, team members participate in all key aspects of investment management: credit research, trading, portfolio construction and risk oversight.

Returns

(As of 30 Sep 2024)

YTD

10y

Inception

Total Return without Sales Charge (%)

1.38

6.54

-0.56

0.29

1.03

2.54

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

2.12

8.81

0.32

1.41

2.32

—

Morningstar Category Avg. (%)

2.04

8.86

-0.39

0.67

1.69

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return without Sales Charge (%)

0.45

6.16

-0.80

0.11

0.88

2.50

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

0.70

8.02

-0.07

1.09

2.13

—

Morningstar Category Avg. (%)

2.04

8.86

-0.39

0.67

1.69

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return without Sales Charge (%)

1.38

6.54

-1.67

1.46

10.85

88.99

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

2.12

8.81

0.95

7.25

25.75

—

YTD

10y

Inception

Total Return without Sales Charge (%)

0.45

6.16

-2.38

0.53

9.20

87.26

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

0.70

8.02

-0.22

5.57

23.42

—

2018

2019

2020

2021

2022

2023

Total Return without Sales Charge (%)

1.14

4.21

3.19

-0.23

-6.43

3.58

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

1.45

7.01

4.96

0.94

-6.64

5.41

Source: Confluence

Periods less than one year are not annualized.

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 fund’s A shares is 2.00%. There is no up-front sales charge for class D or I shares.

Morningstar quartile ranking for Muni Single State Interm category is based on total returns before sales charges for 1, 3, 5 and 10 years, among 110, 110, 108 and 96 funds, respectively, as of 30 Sep 2024.

Index not yet incepted.

Share class inception dates: A shares, 18 Jun 1991; D shares, 1 Jun 1999; I shares, 1 Feb 2007.

Fund Fees

(As of 1 Feb 2024)

Gross Expense Ratio (%)

1.34

Net Expense Ratio (%)

1.24

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.

Distributions

            Categories,Total ($)
            1999-01-31,0
1999-02-28,0
1999-03-31,0
1999-04-30,0
1999-05-31,0
1999-06-30,0.04888
1999-07-31,0.04580
1999-08-31,0.04700
1999-09-30,0.04802
1999-10-31,0.04730
1999-11-30,0.04823
1999-12-31,0.04800
2000-01-31,0.04787
2000-02-29,0.04935
2000-03-31,0.04878
2000-04-30,0.04953
2000-05-31,0.04931
2000-06-30,0.04979
2000-07-31,0.04755
2000-08-31,0.04831
2000-09-30,0.04828
2000-10-31,0.04792
2000-11-30,0.04839
2000-12-31,0.04806
2001-01-31,0.04784
2001-02-28,0.04868
2001-03-31,0.04610
2001-04-30,0.04676
2001-05-31,0.04646
2001-06-30,0.04405
2001-07-31,0.04285
2001-08-31,0.04257
2001-09-30,0.04304
2001-10-31,0.04300
2001-11-30,0.04286
2001-12-31,0.04141
2002-01-31,0.04377
2002-02-28,0.04416
2002-03-31,0.04102
2002-04-30,0.04127
2002-05-31,0.04040
2002-06-30,0.04092
2002-07-31,0.03820
2002-08-31,0.03744
2002-09-30,0.03805
2002-10-31,0.03589
2002-11-30,0.03674
2002-12-31,0.03833
2003-01-31,0.03870
2003-02-28,0.03919
2003-03-31,0.03680
2003-04-30,0.03756
2003-05-31,0.03665
2003-06-30,0.03619
2003-07-31,0.03306
2003-08-31,0.03292
2003-09-30,0.03557
2003-10-31,0.03475
2003-11-30,0.03484
2003-12-31,0.03430
2004-01-31,0.03465
2004-02-29,0.03558
2004-03-31,0.03307
2004-04-30,0.03481
2004-05-31,0.03500
2004-06-30,0.03753
2004-07-31,0.03414
2004-08-31,0.03324
2004-09-30,0.03468
2004-10-31,0.03274
2004-11-30,0.03291
2004-12-31,0.03239
2005-01-31,0.03237
2005-02-28,0.03402
2005-03-31,0.03185
2005-04-30,0.03358
2005-05-31,0.03304
2005-06-30,0.03382
2005-07-31,0.03202
2005-08-31,0.03204
2005-09-30,0.03293
2005-10-31,0.03274
2005-11-30,0.03369
2005-12-31,0.03340
2006-01-31,0.03374
2006-02-28,0.03564
2006-03-31,0.03426
2006-04-30,0.03478
2006-05-31,0.03404
2006-06-30,0.03482
2006-07-31,0.03511
2006-08-31,0.03533
2006-09-30,0.03592
2006-10-31,0.03528
2006-11-30,0.03567
2006-12-31,0.03534
2007-01-31,0.03581
2007-02-28,0.03738
2007-03-31,0.03533
2007-04-30,0.03588
2007-05-31,0.03562
2007-06-30,0.03654
2007-07-31,0.03638
2007-08-31,0.03663
2007-09-30,0.03691
2007-10-31,0.03680
2007-11-30,0.03718
2007-12-31,0.03619
2008-01-31,0.03553
2008-02-29,0.03633
2008-03-31,0.03546
2008-04-30,0.03480
2008-05-31,0.03546
2008-06-30,0.03657
2008-07-31,0.03495
2008-08-31,0.03612
2008-09-30,0.03704
2008-10-31,0.03612
2008-11-30,0.03697
2008-12-31,0.03766
2009-01-31,0.03711
2009-02-28,0.03790
2009-03-31,0.03595
2009-04-30,0.03677
2009-05-31,0.03621
2009-06-30,0.03520
2009-07-31,0.03493
2009-08-31,0.03626
2009-09-30,0.03591
2009-10-31,0.03465
2009-11-30,0.03520
2009-12-31,0.03419
2010-01-31,0.03417
2010-02-28,0.03559
2010-03-31,0.03338
2010-04-30,0.03417
2010-05-31,0.03315
2010-06-30,0.03257
2010-07-31,0.03027
2010-08-31,0.02944
2010-09-30,0.03115
2010-10-31,0.03179
2010-11-19,0.01154
2010-11-30,0.03238
2010-12-31,0.03207
2011-01-31,0.03328
2011-02-28,0.03591
2011-03-31,0.03427
2011-04-30,0.03522
2011-05-31,0.03467
2011-06-30,0.03482
2011-07-31,0.03210
2011-08-31,0.03160
2011-09-30,0.03249
2011-10-31,0.03166
2011-11-18,0.01058
2011-11-30,0.03299
2011-12-31,0.03639
2012-01-31,0.03223
2012-02-29,0.03324
2012-03-31,0.03613
2012-04-30,0.02845
2012-05-31,0.03110
2012-06-30,0.02943
2012-07-31,0.02824
2012-08-31,0.02736
2012-09-30,0.02820
2012-10-31,0.02861
2012-11-30,0.02810
2012-12-31,0.02778
2013-01-31,0.02820
2013-02-28,0.02997
2013-03-31,0.02817
2013-04-30,0.02877
2013-05-31,0.02877
2013-06-30,0.03013
2013-07-31,0.02856
2013-08-31,0.02928
2013-09-30,0.02965
2013-10-31,0.02876
2013-11-30,0.02972
2013-12-31,0.02991
2014-01-31,0.02935
2014-02-28,0.03022
2014-03-31,0.02857
2014-04-30,0.02922
2014-05-31,0.02855
2014-06-30,0.02939
2014-07-31,0.02894
2014-08-31,0.02863
2014-09-30,0.02913
2014-10-31,0.02927
2014-11-30,0.03000
2014-12-31,0.02657
2015-01-31,0.02571
2015-02-28,0.02779
2015-03-31,0.02585
2015-04-30,0.02730
2015-05-31,0.02753
2015-06-30,0.02456
2015-07-31,0.02046
2015-08-31,0.02135
2015-09-30,0.02246
2015-10-31,0.02193
2015-11-30,0.02278
2015-12-31,0.02163
2016-01-31,0.02157
2016-02-29,0.02279
2016-03-31,0.02173
2016-04-30,0.02259
2016-05-31,0.02170
2016-06-30,0.02230
2016-07-31,0.02108
2016-08-31,0.02141
2016-09-30,0.02421
2016-10-31,0.02144
2016-11-30,0.02250
2016-12-31,0.02430
2017-01-31,0.02396
2017-02-28,0.02564
2017-03-31,0.02472
2017-04-30,0.02373
2017-05-31,0.02345
2017-06-30,0.02518
2017-07-31,0.02361
2017-08-31,0.02264
2017-09-30,0.02330
2017-10-31,0.02263
2017-11-30,0.02372
2017-12-31,0.02391
2018-01-31,0.02462
2018-02-28,0.02850
2018-03-31,0.02416
2018-04-30,0.02731
2018-05-31,0.02638
2018-06-30,0.02486
2018-07-31,0.02427
2018-08-31,0.02274
2018-09-30,0.02344
2018-10-31,0.02349
2018-11-30,0.02425
2018-12-31,0.02256
2019-01-31,0.02301
2019-02-28,0.02554
2019-03-31,0.02271
2019-04-30,0.02353
2019-05-31,0.02271
2019-06-30,0.02335
2019-07-31,0.02229
2019-08-31,0.02182
2019-09-30,0.02135
2019-10-31,0.02012
2019-11-30,0.02025
2019-12-31,0.01886
2020-01-31,0.01929
2020-02-29,0.02096
2020-03-31,0.01874
2020-04-30,0.01853
2020-05-31,0.01692
2020-06-30,0.01524
2020-07-31,0.01383
2020-08-31,0.01420
2020-09-30,0.01430
2020-10-31,0.01358
2020-11-30,0.01489
2020-12-31,0.01221
2021-01-31,0.01220
2021-02-28,0.01507
2021-03-31,0.01217
2021-04-30,0.01329
2021-05-31,0.01253
2021-06-30,0.01383
2021-07-31,0.01317
2021-08-31,0.01310
2021-09-30,0.01384
2021-10-31,0.01344
2021-11-30,0.01481
2021-12-31,0.01154
2022-01-31,0.01137
2022-02-28,0.01465
2022-03-31,0.01217
2022-04-30,0.01370
2022-05-31,0.01331
2022-06-30,0.01444
2022-07-31,0.01323
2022-08-31,0.01298
2022-09-30,0.01442
2022-10-31,0.01274
2022-11-30,0.01410
2022-12-31,0.01310
2023-01-31,0.01426
2023-02-28,0.01811
2023-03-31,0.01555
2023-04-30,0.01717
2023-05-31,0.01793
2023-06-30,0.02010
2023-07-31,0.02026
2023-08-31,0.02095
2023-09-30,0.02202
2023-10-31,0.02287
2023-11-30,0.02403
2023-12-31,0.02311
2024-01-31,0.02281
2024-02-29,0.02471
2024-03-31,0.02338
2024-04-30,0.02424
2024-05-31,0.02355
2024-06-30,0.02511
2024-07-31,0.02473
2024-08-31,0.02546
2024-09-30,0.02589
2024-10-31,0.02568

            Ex-Date, Payable Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
1999-01-31,917740800,0,0,0,0
1999-02-28,920160000,0,0,0,0
1999-03-31,922838400,0,0,0,0
1999-04-30,925430400,0,0,0,0
1999-05-31,928108800,0,0,0,0
1999-06-30,930700800,0.04888,0.04888,0,0
1999-07-30,933379200,0.04580,0.04580,0,0
1999-08-31,936057600,0.04700,0.04700,0,0
1999-09-30,938649600,0.04802,0.04802,0,0
1999-10-29,941328000,0.04730,0.04730,0,0
1999-11-30,943920000,0.04823,0.04823,0,0
1999-12-31,946598400,0.04800,0.04800,0,0
2000-01-31,949276800,0.04787,0.04787,0,0
2000-02-29,951782400,0.04935,0.04935,0,0
2000-03-31,954460800,0.04878,0.04878,0,0
2000-04-28,957052800,0.04953,0.04953,0,0
2000-05-31,959731200,0.04931,0.04931,0,0
2000-06-30,962323200,0.04979,0.04979,0,0
2000-07-31,965001600,0.04755,0.04755,0,0
2000-08-31,967680000,0.04831,0.04831,0,0
2000-09-29,970272000,0.04828,0.04828,0,0
2000-10-31,972950400,0.04792,0.04792,0,0
2000-11-30,975542400,0.04839,0.04839,0,0
2000-12-29,978220800,0.04806,0.04806,0,0
2001-01-31,980899200,0.04784,0.04784,0,0
2001-02-28,983318400,0.04868,0.04868,0,0
2001-03-30,985996800,0.04610,0.04610,0,0
2001-04-30,988588800,0.04676,0.04676,0,0
2001-05-31,991267200,0.04646,0.04646,0,0
2001-06-29,993859200,0.04405,0.04405,0,0
2001-07-31,996537600,0.04285,0.04285,0,0
2001-08-31,999216000,0.04257,0.04257,0,0
2001-09-28,1001808000,0.04304,0.04304,0,0
2001-10-31,1004486400,0.04300,0.04300,0,0
2001-11-30,1007078400,0.04286,0.04286,0,0
2001-12-31,1009756800,0.04141,0.04141,0,0
2002-01-31,1012435200,0.04377,0.04377,0,0
2002-02-28,1014854400,0.04416,0.04416,0,0
2002-03-28,1017532800,0.04102,0.04102,0,0
2002-04-30,1020124800,0.04127,0.04127,0,0
2002-05-31,1022803200,0.04040,0.04040,0,0
2002-06-28,1025395200,0.04092,0.04092,0,0
2002-07-31,1028073600,0.03820,0.03820,0,0
2002-08-30,1030752000,0.03744,0.03744,0,0
2002-09-30,1033344000,0.03805,0.03805,0,0
2002-10-31,1036022400,0.03589,0.03589,0,0
2002-11-29,1038614400,0.03674,0.03674,0,0
2002-12-31,1041292800,0.03833,0.03833,0,0
2003-01-31,1043971200,0.03870,0.03870,0,0
2003-02-28,1046390400,0.03919,0.03919,0,0
2003-03-31,1049068800,0.03680,0.03680,0,0
2003-04-30,1051660800,0.03756,0.03756,0,0
2003-05-30,1054339200,0.03665,0.03665,0,0
2003-06-30,1056931200,0.03619,0.03619,0,0
2003-07-31,1059609600,0.03306,0.03306,0,0
2003-08-29,1062288000,0.03292,0.03292,0,0
2003-09-30,1064880000,0.03557,0.03557,0,0
2003-10-31,1067558400,0.03475,0.03475,0,0
2003-11-28,1070150400,0.03484,0.03484,0,0
2003-12-31,1072828800,0.03430,0.03430,0,0
2004-01-30,1075507200,0.03465,0.03465,0,0
2004-02-27,1078012800,0.03558,0.03558,0,0
2004-03-31,1080691200,0.03307,0.03307,0,0
2004-04-30,1083283200,0.03481,0.03481,0,0
2004-05-28,1085961600,0.03500,0.03500,0,0
2004-06-30,1088553600,0.03753,0.03753,0,0
2004-07-30,1091232000,0.03414,0.03414,0,0
2004-08-31,1093910400,0.03324,0.03324,0,0
2004-09-30,1096502400,0.03468,0.03468,0,0
2004-10-29,1099180800,0.03274,0.03274,0,0
2004-11-30,1101772800,0.03291,0.03291,0,0
2004-12-31,1104451200,0.03239,0.03239,0,0
2005-01-31,1107129600,0.03237,0.03237,0,0
2005-02-28,1109548800,0.03402,0.03402,0,0
2005-03-31,1112227200,0.03185,0.03185,0,0
2005-04-29,1114819200,0.03358,0.03358,0,0
2005-05-31,1117497600,0.03304,0.03304,0,0
2005-06-30,1120089600,0.03382,0.03382,0,0
2005-07-29,1122768000,0.03202,0.03202,0,0
2005-08-31,1125446400,0.03204,0.03204,0,0
2005-09-30,1128038400,0.03293,0.03293,0,0
2005-10-31,1130716800,0.03274,0.03274,0,0
2005-11-30,1133308800,0.03369,0.03369,0,0
2005-12-30,1135987200,0.03340,0.03340,0,0
2006-01-31,1138665600,0.03374,0.03374,0,0
2006-02-28,1141084800,0.03564,0.03564,0,0
2006-03-31,1143763200,0.03426,0.03426,0,0
2006-04-28,1146355200,0.03478,0.03478,0,0
2006-05-31,1149033600,0.03404,0.03404,0,0
2006-06-30,1151625600,0.03482,0.03482,0,0
2006-07-31,1154304000,0.03511,0.03511,0,0
2006-08-31,1156982400,0.03533,0.03533,0,0
2006-09-29,1159574400,0.03592,0.03592,0,0
2006-10-31,1162252800,0.03528,0.03528,0,0
2006-11-30,1164844800,0.03567,0.03567,0,0
2006-12-29,1167523200,0.03534,0.03534,0,0
2007-01-31,1170201600,0.03581,0.03581,0,0
2007-02-28,1172620800,0.03738,0.03738,0,0
2007-03-30,1175299200,0.03533,0.03533,0,0
2007-04-30,1177891200,0.03588,0.03588,0,0
2007-05-31,1180569600,0.03562,0.03562,0,0
2007-06-29,1183161600,0.03654,0.03654,0,0
2007-07-31,1185840000,0.03638,0.03638,0,0
2007-08-31,1188518400,0.03663,0.03663,0,0
2007-09-28,1191110400,0.03691,0.03691,0,0
2007-10-31,1193788800,0.03680,0.03680,0,0
2007-11-30,1196380800,0.03718,0.03718,0,0
2007-12-31,1199059200,0.03619,0.03619,0,0
2008-01-31,1201737600,0.03553,0.03553,0,0
2008-02-29,1204243200,0.03633,0.03633,0,0
2008-03-31,1206921600,0.03546,0.03546,0,0
2008-04-30,1209513600,0.03480,0.03480,0,0
2008-05-30,1212192000,0.03546,0.03546,0,0
2008-06-30,1214784000,0.03657,0.03657,0,0
2008-07-31,1217462400,0.03495,0.03495,0,0
2008-08-29,1220140800,0.03612,0.03612,0,0
2008-09-30,1222732800,0.03704,0.03704,0,0
2008-10-31,1225411200,0.03612,0.03612,0,0
2008-11-28,1228003200,0.03697,0.03697,0,0
2008-12-31,1230681600,0.03766,0.03766,0,0
2009-01-30,1233360000,0.03711,0.03711,0,0
2009-02-27,1235779200,0.03790,0.03790,0,0
2009-03-31,1238457600,0.03595,0.03595,0,0
2009-04-30,1241049600,0.03677,0.03677,0,0
2009-05-29,1243728000,0.03621,0.03621,0,0
2009-06-30,1246320000,0.03520,0.03520,0,0
2009-07-31,1248998400,0.03493,0.03493,0,0
2009-08-31,1251676800,0.03626,0.03626,0,0
2009-09-30,1254268800,0.03591,0.03591,0,0
2009-10-30,1256947200,0.03465,0.03465,0,0
2009-11-30,1259539200,0.03520,0.03520,0,0
2009-12-31,1262217600,0.03419,0.03419,0,0
2010-01-29,1264896000,0.03417,0.03417,0,0
2010-02-26,1267315200,0.03559,0.03559,0,0
2010-03-31,1269993600,0.03338,0.03338,0,0
2010-04-30,1272585600,0.03417,0.03417,0,0
2010-05-28,1275264000,0.03315,0.03315,0,0
2010-06-30,1277856000,0.03257,0.03257,0,0
2010-07-30,1280534400,0.03027,0.03027,0,0
2010-08-31,1283212800,0.02944,0.02944,0,0
2010-09-30,1285804800,0.03115,0.03115,0,0
2010-10-29,1288483200,0.03179,0.03179,0,0
2010-11-19,1290124800,0.01154,0,0.00000,0.01154
2010-11-30,1291075200,0.03238,0.03238,0,0
2010-12-31,1293753600,0.03207,0.03207,0,0
2011-01-31,1296432000,0.03328,0.03328,0,0
2011-02-28,1298851200,0.03591,0.03591,0,0
2011-03-31,1301529600,0.03427,0.03427,0,0
2011-04-29,1304121600,0.03522,0.03522,0,0
2011-05-31,1306800000,0.03467,0.03467,0,0
2011-06-30,1309392000,0.03482,0.03482,0,0
2011-07-29,1312070400,0.03210,0.03210,0,0
2011-08-31,1314748800,0.03160,0.03160,0,0
2011-09-30,1317340800,0.03249,0.03249,0,0
2011-10-31,1320019200,0.03166,0.03166,0,0
2011-11-18,1321574400,0.01058,0,0.00304,0.00754
2011-11-30,1322611200,0.03299,0.03299,0,0
2011-12-30,1325289600,0.03639,0.03639,0,0
2012-01-31,1327968000,0.03223,0.03223,0,0
2012-02-29,1330473600,0.03324,0.03324,0,0
2012-03-30,1333152000,0.03613,0.03613,0,0
2012-04-30,1335744000,0.02845,0.02845,0,0
2012-05-31,1338422400,0.03110,0.03110,0,0
2012-06-29,1341014400,0.02943,0.02943,0,0
2012-07-31,1343692800,0.02824,0.02824,0,0
2012-08-31,1346371200,0.02736,0.02736,0,0
2012-09-28,1348963200,0.02820,0.02820,0,0
2012-10-31,1351641600,0.02861,0.02861,0,0
2012-11-30,1354233600,0.02810,0.02810,0,0
2012-12-31,1356912000,0.02778,0.02778,0,0
2013-01-31,1359590400,0.02820,0.02820,0,0
2013-02-28,1362009600,0.02997,0.02997,0,0
2013-03-28,1364688000,0.02817,0.02817,0,0
2013-04-30,1367280000,0.02877,0.02877,0,0
2013-05-31,1369958400,0.02877,0.02877,0,0
2013-06-28,1372550400,0.03013,0.03013,0,0
2013-07-31,1375228800,0.02856,0.02856,0,0
2013-08-30,1377907200,0.02928,0.02928,0,0
2013-09-30,1380499200,0.02965,0.02965,0,0
2013-10-31,1383177600,0.02876,0.02876,0,0
2013-11-29,1385769600,0.02972,0.02972,0,0
2013-12-31,1388448000,0.02991,0.02991,0,0
2014-01-31,1391126400,0.02935,0.02935,0,0
2014-02-28,1393545600,0.03022,0.03022,0,0
2014-03-31,1396224000,0.02857,0.02857,0,0
2014-04-30,1398816000,0.02922,0.02922,0,0
2014-05-30,1401494400,0.02855,0.02855,0,0
2014-06-30,1404086400,0.02939,0.02939,0,0
2014-07-31,1406764800,0.02894,0.02894,0,0
2014-08-29,1409443200,0.02863,0.02863,0,0
2014-09-30,1412035200,0.02913,0.02913,0,0
2014-10-31,1414713600,0.02927,0.02927,0,0
2014-11-28,1417305600,0.03000,0.03000,0,0
2014-12-31,1419984000,0.02657,0.02657,0,0
2015-01-30,1422662400,0.02571,0.02571,0,0
2015-02-27,1425081600,0.02779,0.02779,0,0
2015-03-31,1427760000,0.02585,0.02585,0,0
2015-04-30,1430352000,0.02730,0.02730,0,0
2015-05-29,1433030400,0.02753,0.02753,0,0
2015-06-30,1435622400,0.02456,0.02456,0,0
2015-07-31,1438300800,0.02046,0.02046,0,0
2015-08-31,1440979200,0.02135,0.02135,0,0
2015-09-30,1443571200,0.02246,0.02246,0,0
2015-10-30,1446249600,0.02193,0.02193,0,0
2015-11-30,1448841600,0.02278,0.02278,0,0
2015-12-31,1451520000,0.02163,0.02163,0,0
2016-01-29,1454198400,0.02157,0.02157,0,0
2016-02-29,1456704000,0.02279,0.02279,0,0
2016-03-31,1459382400,0.02173,0.02173,0,0
2016-04-29,1461974400,0.02259,0.02259,0,0
2016-05-31,1464652800,0.02170,0.02170,0,0
2016-06-30,1467244800,0.02230,0.02230,0,0
2016-07-29,1469923200,0.02108,0.02108,0,0
2016-08-31,1472601600,0.02141,0.02141,0,0
2016-09-30,1475193600,0.02421,0.02421,0,0
2016-10-31,1477872000,0.02144,0.02144,0,0
2016-11-30,1480464000,0.02250,0.02250,0,0
2016-12-30,1483142400,0.02430,0.02430,0,0
2017-01-31,1485820800,0.02396,0.02396,0,0
2017-02-28,1488240000,0.02564,0.02564,0,0
2017-03-31,1490918400,0.02472,0.02472,0,0
2017-04-28,1493510400,0.02373,0.02373,0,0
2017-05-31,1496188800,0.02345,0.02345,0,0
2017-06-30,1498780800,0.02518,0.02518,0,0
2017-07-31,1501459200,0.02361,0.02361,0,0
2017-08-31,1504137600,0.02264,0.02264,0,0
2017-09-29,1506729600,0.02330,0.02330,0,0
2017-10-31,1509408000,0.02263,0.02263,0,0
2017-11-30,1512000000,0.02372,0.02372,0,0
2017-12-29,1514678400,0.02391,0.02391,0,0
2018-01-31,1517356800,0.02462,0.02462,0,0
2018-02-28,1519776000,0.02850,0.02850,0,0
2018-03-29,1522454400,0.02416,0.02416,0,0
2018-04-30,1525046400,0.02731,0.02731,0,0
2018-05-31,1527724800,0.02638,0.02638,0,0
2018-06-29,1530316800,0.02486,0.02486,0,0
2018-07-31,1532995200,0.02427,0.02427,0,0
2018-08-31,1535673600,0.02274,0.02274,0,0
2018-09-28,1538265600,0.02344,0.02344,0,0
2018-10-31,1540944000,0.02349,0.02349,0,0
2018-11-30,1543536000,0.02425,0.02425,0,0
2018-12-31,1546214400,0.02256,0.02256,0,0
2019-01-31,1548892800,0.02301,0.02301,0,0
2019-02-28,1551312000,0.02554,0.02554,0,0
2019-03-29,1553990400,0.02271,0.02271,0,0
2019-04-30,1556582400,0.02353,0.02353,0,0
2019-05-31,1559260800,0.02271,0.02271,0,0
2019-06-28,1561852800,0.02335,0.02335,0,0
2019-07-31,1564531200,0.02229,0.02229,0,0
2019-08-31,1567209600,0.02182,0.02182,0,0
2019-09-30,1569801600,0.02135,0.02135,0,0
2019-10-31,1572480000,0.02012,0.02012,0,0
2019-11-30,1575072000,0.02025,0.02025,0,0
2019-12-31,1577750400,0.01886,0.01886,0,0
2020-01-31,1580428800,0.01929,0.01929,0,0
2020-02-29,1582934400,0.02096,0.02096,0,0
2020-03-31,1585612800,0.01874,0.01874,0,0
2020-04-30,1588204800,0.01853,0.01853,0,0
2020-05-31,1590883200,0.01692,0.01692,0,0
2020-06-30,1593475200,0.01524,0.01524,0,0
2020-07-31,1596153600,0.01383,0.01383,0,0
2020-08-31,1598832000,0.01420,0.01420,0,0
2020-09-30,1601424000,0.01430,0.01430,0,0
2020-10-30,1604102400,0.01358,0.01358,0,0
2020-11-30,1606694400,0.01489,0.01489,0,0
2020-12-31,1609372800,0.01221,0.01221,0,0
2021-01-29,1612051200,0.01220,0.01220,0,0
2021-02-26,1614470400,0.01507,0.01507,0,0
2021-03-31,1617148800,0.01217,0.01217,0,0
2021-04-30,1619740800,0.01329,0.01329,0,0
2021-05-28,1622419200,0.01253,0.01253,0,0
2021-06-30,1625011200,0.01383,0.01383,0,0
2021-07-30,1627689600,0.01317,0.01317,0,0
2021-08-31,1630368000,0.01310,0.01310,0,0
2021-09-30,1632960000,0.01384,0.01384,0,0
2021-10-29,1635638400,0.01344,0.01344,0,0
2021-11-30,1638230400,0.01481,0.01481,0,0
2021-12-31,1640908800,0.01154,0.01154,0,0
2022-01-31,1643587200,0.01137,0.01137,0,0
2022-02-28,1646006400,0.01465,0.01465,0,0
2022-03-31,1648684800,0.01217,0.01217,0,0
2022-04-29,1651276800,0.01370,0.01370,0,0
2022-05-31,1653955200,0.01331,0.01331,0,0
2022-06-30,1656547200,0.01444,0.01444,0,0
2022-07-29,1659225600,0.01323,0.01323,0,0
2022-08-31,1661904000,0.01298,0.01298,0,0
2022-09-30,1664496000,0.01442,0.01442,0,0
2022-10-31,1667174400,0.01274,0.01274,0,0
2022-11-30,1669766400,0.01410,0.01410,0,0
2022-12-30,1672444800,0.01310,0.01310,0,0
2023-01-31,1675123200,0.01426,0.01426,0,0
2023-02-28,1677542400,0.01811,0.01811,0,0
2023-03-31,1680220800,0.01555,0.01555,0,0
2023-04-28,1682812800,0.01717,0.01717,0,0
2023-05-31,1685491200,0.01793,0.01793,0,0
2023-06-30,1688083200,0.02010,0.02010,0,0
2023-07-31,1690761600,0.02026,0.02026,0,0
2023-08-31,1693440000,0.02095,0.02095,0,0
2023-09-29,1696032000,0.02202,0.02202,0,0
2023-10-31,1698710400,0.02287,0.02287,0,0
2023-11-30,1701302400,0.02403,0.02403,0,0
2023-12-29,1703980800,0.02311,0.02311,0,0
2024-01-31,1706659200,0.02281,0.02281,0,0
2024-02-29,1709164800,0.02471,0.02471,0,0
2024-03-28,1711843200,0.02338,0.02338,0,0
2024-04-30,1714435200,0.02424,0.02424,0,0
2024-05-31,1717113600,0.02355,0.02355,0,0
2024-06-28,1719705600,0.02511,0.02511,0,0
2024-07-31,1722384000,0.02473,0.02473,0,0
2024-08-30,1725062400,0.02546,0.02546,0,0
2024-09-30,1727654400,0.02589,0.02589,0,0
2024-10-31,1730332800,0.02568,0.02568,0,0

Distributions

(As of 31 Oct 2024)

Ex-Date

Payable Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

31 Jan 1999

—

28 Feb 1999

—

31 Mar 1999

—

30 Apr 1999

—

31 May 1999

—

30 Jun 1999

0.04888

—

30 Jul 1999

31 Jul 1999

0.04580

—

31 Aug 1999

0.04700

—

30 Sep 1999

0.04802

—

29 Oct 1999

31 Oct 1999

0.04730

—

30 Nov 1999

0.04823

—

31 Dec 1999

0.04800

—

31 Jan 2000

0.04787

—

29 Feb 2000

0.04935

—

31 Mar 2000

0.04878

—

28 Apr 2000

30 Apr 2000

0.04953

—

31 May 2000

0.04931

—

30 Jun 2000

0.04979

—

31 Jul 2000

0.04755

—

31 Aug 2000

0.04831

—

29 Sep 2000

30 Sep 2000

0.04828

—

31 Oct 2000

0.04792

—

30 Nov 2000

0.04839

—

29 Dec 2000

31 Dec 2000

0.04806

—

31 Jan 2001

0.04784

—

28 Feb 2001

0.04868

—

30 Mar 2001

31 Mar 2001

0.04610

—

30 Apr 2001

0.04676

—

31 May 2001

0.04646

—

29 Jun 2001

30 Jun 2001

0.04405

—

31 Jul 2001

0.04285

—

31 Aug 2001

0.04257

—

28 Sep 2001

30 Sep 2001

0.04304

—

31 Oct 2001

0.04300

—

30 Nov 2001

0.04286

—

31 Dec 2001

0.04141

—

31 Jan 2002

0.04377

—

28 Feb 2002

0.04416

—

28 Mar 2002

31 Mar 2002

0.04102

—

30 Apr 2002

0.04127

—

31 May 2002

0.04040

—

28 Jun 2002

30 Jun 2002

0.04092

—

31 Jul 2002

0.03820

—

30 Aug 2002

31 Aug 2002

0.03744

—

30 Sep 2002

0.03805

—

31 Oct 2002

0.03589

—

29 Nov 2002

30 Nov 2002

0.03674

—

31 Dec 2002

0.03833

—

31 Jan 2003

0.03870

—

28 Feb 2003

0.03919

—

31 Mar 2003

0.03680

—

30 Apr 2003

0.03756

—

30 May 2003

31 May 2003

0.03665

—

30 Jun 2003

0.03619

—

31 Jul 2003

0.03306

—

29 Aug 2003

31 Aug 2003

0.03292

—

30 Sep 2003

0.03557

—

31 Oct 2003

0.03475

—

28 Nov 2003

30 Nov 2003

0.03484

—

31 Dec 2003

0.03430

—

30 Jan 2004

31 Jan 2004

0.03465

—

27 Feb 2004

29 Feb 2004

0.03558

—

31 Mar 2004

0.03307

—

30 Apr 2004

0.03481

—

28 May 2004

31 May 2004

0.03500

—

30 Jun 2004

0.03753

—

30 Jul 2004

31 Jul 2004

0.03414

—

31 Aug 2004

0.03324

—

30 Sep 2004

0.03468

—

29 Oct 2004

31 Oct 2004

0.03274

—

30 Nov 2004

0.03291

—

31 Dec 2004

0.03239

—

31 Jan 2005

0.03237

—

28 Feb 2005

0.03402

—

31 Mar 2005

0.03185

—

29 Apr 2005

30 Apr 2005

0.03358

—

31 May 2005

0.03304

—

30 Jun 2005

0.03382

—

29 Jul 2005

31 Jul 2005

0.03202

—

31 Aug 2005

0.03204

—

30 Sep 2005

0.03293

—

31 Oct 2005

0.03274

—

30 Nov 2005

0.03369

—

30 Dec 2005

31 Dec 2005

0.03340

—

31 Jan 2006

0.03374

—

28 Feb 2006

0.03564

—

31 Mar 2006

0.03426

—

28 Apr 2006

30 Apr 2006

0.03478

—

31 May 2006

0.03404

—

30 Jun 2006

0.03482

—

31 Jul 2006

0.03511

—

31 Aug 2006

0.03533

—

29 Sep 2006

30 Sep 2006

0.03592

—

31 Oct 2006

0.03528

—

30 Nov 2006

0.03567

—

29 Dec 2006

31 Dec 2006

0.03534

—

31 Jan 2007

0.03581

—

28 Feb 2007

0.03738

—

30 Mar 2007

31 Mar 2007

0.03533

—

30 Apr 2007

0.03588

—

31 May 2007

0.03562

—

29 Jun 2007

30 Jun 2007

0.03654

—

31 Jul 2007

0.03638

—

31 Aug 2007

0.03663

—

28 Sep 2007

30 Sep 2007

0.03691

—

31 Oct 2007

0.03680

—

30 Nov 2007

0.03718

—

31 Dec 2007

0.03619

—

31 Jan 2008

0.03553

—

29 Feb 2008

0.03633

—

31 Mar 2008

0.03546

—

30 Apr 2008

0.03480

—

30 May 2008

31 May 2008

0.03546

—

30 Jun 2008

0.03657

—

31 Jul 2008

0.03495

—

29 Aug 2008

31 Aug 2008

0.03612

—

30 Sep 2008

0.03704

—

31 Oct 2008

0.03612

—

28 Nov 2008

30 Nov 2008

0.03697

—

31 Dec 2008

0.03766

—

30 Jan 2009

31 Jan 2009

0.03711

—

27 Feb 2009

28 Feb 2009

0.03790

—

31 Mar 2009

0.03595

—

30 Apr 2009

0.03677

—

29 May 2009

31 May 2009

0.03621

—

30 Jun 2009

0.03520

—

31 Jul 2009

0.03493

—

31 Aug 2009

0.03626

—

30 Sep 2009

0.03591

—

30 Oct 2009

31 Oct 2009

0.03465

—

30 Nov 2009

0.03520

—

31 Dec 2009

0.03419

—

29 Jan 2010

31 Jan 2010

0.03417

—

26 Feb 2010

28 Feb 2010

0.03559

—

31 Mar 2010

0.03338

—

30 Apr 2010

0.03417

—

28 May 2010

31 May 2010

0.03315

—

30 Jun 2010

0.03257

—

30 Jul 2010

31 Jul 2010

0.03027

—

31 Aug 2010

0.02944

—

30 Sep 2010

0.03115

—

29 Oct 2010

31 Oct 2010

0.03179

—

19 Nov 2010

0.01154

—

0.00000

0.01154

30 Nov 2010

0.03238

—

31 Dec 2010

0.03207

—

31 Jan 2011

0.03328

—

28 Feb 2011

0.03591

—

31 Mar 2011

0.03427

—

29 Apr 2011

30 Apr 2011

0.03522

—

31 May 2011

0.03467

—

30 Jun 2011

0.03482

—

29 Jul 2011

31 Jul 2011

0.03210

—

31 Aug 2011

0.03160

—

30 Sep 2011

0.03249

—

31 Oct 2011

0.03166

—

18 Nov 2011

0.01058

—

0.00304

0.00754

30 Nov 2011

0.03299

—

30 Dec 2011

31 Dec 2011

0.03639

—

31 Jan 2012

0.03223

—

29 Feb 2012

0.03324

—

30 Mar 2012

31 Mar 2012

0.03613

—

30 Apr 2012

0.02845

—

31 May 2012

0.03110

—

29 Jun 2012

30 Jun 2012

0.02943

—

31 Jul 2012

0.02824

—

31 Aug 2012

0.02736

—

28 Sep 2012

30 Sep 2012

0.02820

—

31 Oct 2012

0.02861

—

30 Nov 2012

0.02810

—

31 Dec 2012

0.02778

—

31 Jan 2013

0.02820

—

28 Feb 2013

0.02997

—

28 Mar 2013

31 Mar 2013

0.02817

—

30 Apr 2013

0.02877

—

31 May 2013

0.02877

—

28 Jun 2013

30 Jun 2013

0.03013

—

31 Jul 2013

0.02856

—

30 Aug 2013

31 Aug 2013

0.02928

—

30 Sep 2013

0.02965

—

31 Oct 2013

0.02876

—

29 Nov 2013

30 Nov 2013

0.02972

—

31 Dec 2013

0.02991

—

31 Jan 2014

0.02935

—

28 Feb 2014

0.03022

—

31 Mar 2014

0.02857

—

30 Apr 2014

0.02922

—

30 May 2014

31 May 2014

0.02855

—

30 Jun 2014

0.02939

—

31 Jul 2014

0.02894

—

29 Aug 2014

31 Aug 2014

0.02863

—

30 Sep 2014

0.02913

—

31 Oct 2014

0.02927

—

28 Nov 2014

30 Nov 2014

0.03000

—

31 Dec 2014

0.02657

—

30 Jan 2015

31 Jan 2015

0.02571

—

27 Feb 2015

28 Feb 2015

0.02779

—

31 Mar 2015

0.02585

—

30 Apr 2015

0.02730

—

29 May 2015

31 May 2015

0.02753

—

30 Jun 2015

0.02456

—

31 Jul 2015

0.02046

—

31 Aug 2015

0.02135

—

30 Sep 2015

0.02246

—

30 Oct 2015

31 Oct 2015

0.02193

—

30 Nov 2015

0.02278

—

31 Dec 2015

0.02163

—

29 Jan 2016

31 Jan 2016

0.02157

—

29 Feb 2016

0.02279

—

31 Mar 2016

0.02173

—

29 Apr 2016

30 Apr 2016

0.02259

—

31 May 2016

0.02170

—

30 Jun 2016

0.02230

—

29 Jul 2016

31 Jul 2016

0.02108

—

31 Aug 2016

0.02141

—

30 Sep 2016

0.02421

—

31 Oct 2016

0.02144

—

30 Nov 2016

0.02250

—

30 Dec 2016

31 Dec 2016

0.02430

—

31 Jan 2017

0.02396

—

28 Feb 2017

0.02564

—

31 Mar 2017

0.02472

—

28 Apr 2017

30 Apr 2017

0.02373

—

31 May 2017

0.02345

—

30 Jun 2017

0.02518

—

31 Jul 2017

0.02361

—

31 Aug 2017

0.02264

—

29 Sep 2017

30 Sep 2017

0.02330

—

31 Oct 2017

0.02263

—

30 Nov 2017

0.02372

—

29 Dec 2017

31 Dec 2017

0.02391

—

31 Jan 2018

0.02462

—

28 Feb 2018

0.02850

—

29 Mar 2018

31 Mar 2018

0.02416

—

30 Apr 2018

0.02731

—

31 May 2018

0.02638

—

29 Jun 2018

30 Jun 2018

0.02486

—

31 Jul 2018

0.02427

—

31 Aug 2018

0.02274

—

28 Sep 2018

30 Sep 2018

0.02344

—

31 Oct 2018

0.02349

—

30 Nov 2018

0.02425

—

31 Dec 2018

0.02256

—

31 Jan 2019

0.02301

—

28 Feb 2019

0.02554

—

29 Mar 2019

31 Mar 2019

0.02271

—

30 Apr 2019

0.02353

—

31 May 2019

0.02271

—

28 Jun 2019

30 Jun 2019

0.02335

—

31 Jul 2019

0.02229

—

31 Aug 2019

0.02182

—

30 Sep 2019

0.02135

—

31 Oct 2019

0.02012

—

30 Nov 2019

0.02025

—

31 Dec 2019

0.01886

—

31 Jan 2020

0.01929

—

29 Feb 2020

0.02096

—

31 Mar 2020

0.01874

—

30 Apr 2020

0.01853

—

31 May 2020

0.01692

—

30 Jun 2020

0.01524

—

31 Jul 2020

0.01383

—

31 Aug 2020

0.01420

—

30 Sep 2020

0.01430

—

30 Oct 2020

31 Oct 2020

0.01358

—

30 Nov 2020

0.01489

—

31 Dec 2020

0.01221

—

29 Jan 2021

31 Jan 2021

0.01220

—

26 Feb 2021

28 Feb 2021

0.01507

—

31 Mar 2021

0.01217

—

30 Apr 2021

0.01329

—

28 May 2021

31 May 2021

0.01253

—

30 Jun 2021

0.01383

—

30 Jul 2021

31 Jul 2021

0.01317

—

31 Aug 2021

0.01310

—

30 Sep 2021

0.01384

—

29 Oct 2021

31 Oct 2021

0.01344

—

30 Nov 2021

0.01481

—

31 Dec 2021

0.01154

—

31 Jan 2022

0.01137

—

28 Feb 2022

0.01465

—

31 Mar 2022

0.01217

—

29 Apr 2022

30 Apr 2022

0.01370

—

31 May 2022

0.01331

—

30 Jun 2022

0.01444

—

29 Jul 2022

31 Jul 2022

0.01323

—

31 Aug 2022

0.01298

—

30 Sep 2022

0.01442

—

31 Oct 2022

0.01274

—

30 Nov 2022

0.01410

—

30 Dec 2022

31 Dec 2022

0.01310

—

31 Jan 2023

0.01426

—

28 Feb 2023

0.01811

—

31 Mar 2023

0.01555

—

28 Apr 2023

30 Apr 2023

0.01717

—

31 May 2023

0.01793

—

30 Jun 2023

0.02010

—

31 Jul 2023

0.02026

—

31 Aug 2023

0.02095

—

29 Sep 2023

30 Sep 2023

0.02202

—

31 Oct 2023

0.02287

—

30 Nov 2023

0.02403

—

29 Dec 2023

31 Dec 2023

0.02311

—

31 Jan 2024

0.02281

—

29 Feb 2024

0.02471

—

28 Mar 2024

31 Mar 2024

0.02338

—

30 Apr 2024

0.02424

—

31 May 2024

0.02355

—

28 Jun 2024

30 Jun 2024

0.02511

—

31 Jul 2024

0.02473

—

30 Aug 2024

31 Aug 2024

0.02546

—

30 Sep 2024

0.02589

—

31 Oct 2024

0.02568

—

Fund Facts

(As of 30 Sep 2024)

Net Fund Assets

$94.5 M

Benchmark

ICE BofA 3-15 Year U.S. Municipal Securities Index

Morningstar Category

Muni Single State Intermediate

Fund Symbol

THNDX

Share Class

Share Class Inception Date

1 Jun 1999

Number of Holdings

Portfolio Turnover

49%

Distribution Frequency

Monthly

30-Day SEC Yield (Subsidized)

2.06%

30-Day SEC Yield (Unsubsidized)

2.06%

Annualized Distribution Yield

2.48%

Characteristics

Portfolio

(As of 30 Sep 2024)

Portfolio

Benchmark

Effective Duration

4.0 Yrs

5.0 Yrs

Average Effective Maturity

8.3 Yrs

8.1 Yrs

Weighted Average Coupon

4.6%

4.5%

Portfolio

Benchmark

Yield to Worst

3.3%

3.0%

Subject to Alternative Minimum Tax

3.4%

—

Risk & Return Profile

(As of 30 Sep 2024)

10y

Annualized Alpha (%)

-0.25

-0.21

-0.13

Standard Deviation (%)

4.93

4.29

3.37

Sharpe Ratio

-0.74

-0.35

-0.02

Up Capture (%)

75.29

75.13

73.53

Down Capture (%)

78.09

77.93

75.48

Past performance does not guarantee future results.

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

Portfolio

Top Holdings

(As of 31 Aug 2024)

Name

Ticker/Symbol

Sector

Weight %

County of Bernalillo NM Gross Receipts Tax Revenue

08527NHA7

Dedicated Tax

4.2

New Mexico Finance Authority

64711NJ63

Other Revenue

4.1

New Mexico Hospital Equipment Loan Council

647370HU2

Hospital

3.0

New Mexico Educational Assistance Foundation

647110FT7

Student Loan

2.9

New Mexico Mortgage Finance Authority

647201YN6

Single Family Mortgage

2.4

City of Farmington NM

311450GC8

Industrial Development/Pollution Control

2.3

New Mexico State University

647429Y45

Higher Education

2.2

State of New Mexico

647293SH3

State General Obligation

2.2

City of Farmington NM

311450GE4

Industrial Development/Pollution Control

2.2

Albuquerque Bernalillo County Water Utility Authority

013493GW5

Water/Sewer

2.2

Download Holdings

Portfolio holdings are subject to change daily.

Exposure Breakdown

(As of 30 Sep 2024)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Dedicated Tax

23.1

15.1

Other Revenue

10.8

—

Higher Education

10.4

—

Single Family Mortgage

8.4

0.2

School District General Obligation

7.0

—

Hospital

5.9

6.7

Industrial Development/Pollution Control

4.5

—

Water/Sewer

3.5

5.4

Public Power

3.4

6.5

Prerefunded / Escrow to Maturity

3.2

—

Cash & Cash Equivalents

2.0

—

Sector Allocation

Fund (%)

Dedicated Tax

23.1

Other Revenue

10.8

Higher Education

10.4

Single Family Mortgage

8.4

School District General Obligation

7.0

Hospital

5.9

Industrial Development/Pollution Control

4.5

Water/Sewer

3.5

Public Power

3.4

Prerefunded / Escrow to Maturity

3.2

Cash & Cash Equivalents

2.0

Credit Quality

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

AAA

40.6

13.2

43.5

56.6

5.2

24.6

BBB

8.3

5.7

Not Rated

0.4

—

Cash & Cash Equivalents

2.0

—

Credit Quality

Fund (%)

AAA

40.6

43.5

5.2

BBB

8.3

Not Rated

0.4

Cash & Cash Equivalents

2.0

Maturity

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Year 1-2

18.8

—

Year 3-4

11.0

12.0

Year 5-6

12.7

20.6

Year 7-8

9.0

19.5

Year 9-10

9.6

15.7

Year 11-12

11.2

14.0

Year 13-14

5.8

12.0

Year 15-16

4.0

6.0

Year 17+

16.1

—

Cash

2.0

—

Maturity

Fund (%)

Year 1-2

18.8

Year 3-4

11.0

Year 5-6

12.7

Year 7-8

9.0

Year 9-10

9.6

Year 11-12

11.2

Year 13-14

5.8

Year 15-16

4.0

Year 17+

16.1

Cash

2.0

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

Percentages may not add up to 100 due to rounding.

Portfolio Managers

David Ashley, CFA

Portfolio Manager and Managing Director

David Ashley is portfolio manager for Thornburg Investment Management. He joined Thornburg as associate portfolio manager in 2011 and was named portfolio manager in 2019. Dave earned a BS in finance and MBA from the University of Delaware in 2001. He is also a CFA charterholder. Prior to joining Thornburg Investment Management, Dave was a credit analyst for Wilmington Trust…

Learn More

John Bonnell, CFA

Portfolio Manager and Managing Director

John Bonnell, CFA, is portfolio manager and managing director for Thornburg Investment Management. He joined Thornburg’s municipal team in 2021. John has over 30 years of municipal bond investing experience. He spent 25 years of his career at USAA where he was most recently a senior portfolio manager and, in 2010, took on responsibility for co-leading municipal bond strategies. Earlier…

Learn More

Eve Lando, JD

Portfolio Manager and Managing Director

Eve Lando is portfolio manager for Thornburg Investment Management. She joined Thornburg's municipal team in 2019 as associate portfolio manager and was named portfolio manager in 2020. Eve holds a BA in urban studies from Columbia University and a JD from Brooklyn Law School, with a concentration in business law studies. She has extensive experience in municipal bond research and…

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Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Report

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. 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 the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

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.

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

Income earned from municipal bonds is exempt from regular federal and in some cases, state and local income tax. Income may be subject to the alternative minimum tax (AMT).

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.

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Thornburg New Mexico Intermediate Municipal Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

David Ashley, CFA

John Bonnell, CFA

Eve Lando, JD

Literature

Important Information

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Thornburg New Mexico Intermediate Municipal Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

David Ashley, CFA

John Bonnell, CFA

Eve Lando, JD

Literature

Important Information

More Insights

The Power of “May I Ask You…?”

Family Legacy Planning: Passing on More Than Just Wealth

The World’s Best Investment Advice

Transform Customers into Life-Long, Referral-Generating Clients

The ABCs of Personal Finance

Cut to the Chase: Seizing Fixed Income Opportunities