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Overall Morningstar Rating among 404 EAA Fund USD Aggressive Allocation funds, based on risk-adjusted returns for class A Dist shares, using a weighted average of the funds three- and five-year ratings: respectively, 5 stars and 5 stars among 404 and 287 funds, as of 31 Jul 2024.
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.
Name,EXTENDED (%),Investment Income Builder Blended Index (%)
2018,-5.7,-6.4
2019,17.4,22.9
2020,1.3,14.4
2021,16.6,15.6
2022,-6.8,-16.7
2023,18.4,19.1
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Total Return (%)
—
—
—
—
-5.68
17.38
1.33
16.55
-6.81
18.43
Investment Income Builder Blended Index (%)
—
—
—
—
-6.42
22.87
14.41
15.64
-16.67
19.05
Name,Total Return (%),Investment Income Builder Blended Index (%)
YTD,8.7,8.5
1y,16.7,15.6
3y,8.5,4.5
5y,8.7,8.9
10y,0.0,0.0
Inception,7.9,8.7
YTD
1y
3y
5y
Inception
Total Return (%)
8.73
16.66
8.45
8.73
7.91
Investment Income Builder Blended Index (%)
8.54
15.63
4.46
8.89
8.74
Morningstar Category Avg. (%)
6.81
12.17
1.61
5.81
—
Morningstar Quartile
—
1
1
1
—
Name,Total Return (%),Investment Income Builder Blended Index (%)
YTD,12.2,10.6
1y,17.3,15.0
3y,9.7,4.6
5y,9.6,9.2
10y,0.0,0.0
Inception,8.3,8.9
YTD
1y
3y
5y
Inception
Total Return (%)
12.22
17.31
9.70
9.60
8.28
Investment Income Builder Blended Index (%)
10.61
14.96
4.55
9.21
8.92
Morningstar Category Avg. (%)
7.81
10.2
1.89
5.9
—
Morningstar Quartile
—
1
1
1
—
Name,Total Return (%),Investment Income Builder Blended Index (%)
YTD,8.7,8.5
1y,16.7,15.6
3y,27.6,14.0
5y,52.0,53.1
10y,0.0,0.0
Inception,73.5,83.5
YTD
1y
3y
5y
Inception
Total Return (%)
8.73
16.66
27.55
51.95
73.51
Investment Income Builder Blended Index (%)
8.54
15.63
13.98
53.11
83.47
Name,Total Return (%),Investment Income Builder Blended Index (%)
YTD,12.2,10.6
1y,17.3,15.0
3y,32.0,14.3
5y,58.2,55.4
10y,0.0,0.0
Inception,79.1,87.0
YTD
1y
3y
5y
Inception
Total Return (%)
12.22
17.31
32.00
58.17
79.09
Investment Income Builder Blended Index (%)
10.61
14.96
14.29
55.37
86.97
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.
Performance data shown does not reflect the deduction of the Fund's sales charge; if reflected, the performance would be reduced.
Morningstar quartile ranking for USD Aggressive Allocation category is based on total returns before sales charges for 1, 3, 5, and 10 years, among 509, 413, 296 and 142 funds, respectively, as of 30 Jun 2024.
Share class inception dates: A Acc shares, 29 Jun 2012; A Dist shares, 19 Apr 2017; I Acc shares, 29 Jun 2012; I Dist shares, 3 Apr 2017; N Acc shares, 03 Oct 2023; X Acc shares, 04 Aug 2021.
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.
The performance data quoted represents past performance; it does not guarantee future results.
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 within 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
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,…
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…
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…
This does not constitute or contain an offer, solicitation, recommendation or investment advice with respect to the purchase of the Funds described herein or any security. The Fund's shares may not be sold to citizens or residents of the United States or in any other state, country or jurisdiction where it would be unlawful to offer, solicit an offer for, or sell the shares. For information regarding the jurisdictions in which the Fund is registered or passported, please contact Thornburg at contactglobal@thornburg.com or +1.855.732.9301. Fund shares may be sold on a private placement basis depending on the jurisdiction. This should not be used or distributed in any jurisdiction, other than in those in which the Fund is authorized, where authorization for distribution is required. Thornburg is authorized by the Fund to facilitate the distribution of shares of the Fund in certain jurisdictions through dealers, referral agents, sub-distributors and other financial intermediaries.
Any entity forwarding this, which is produced by Thornburg in the United States, to other parties takes full responsibility for ensuring compliance with applicable securities laws in connection with its distribution.
The Fund is a sub-fund of Thornburg Global Investment plc ("TGI"), an open-ended investment company with variable capital constituted as an umbrella fund with segregated liability between sub-funds, authorized and regulated by the Central Bank of Ireland ("CBI") as an Undertaking for Collective Investments in Transferable Securities ("UCITS"). Authorization of TGI by the CBI is not an endorsement or guarantee by the CBI nor is the CBI responsible for the contents of any marketing material or the Fund's prospectus, supplement or applicable Key Information Document ("KID"). Authorization by the CBI shall not constitute a warranty as to the performance of TGI and the CBI shall not be liable for the performance of TGI.
Before investing, investors should review the Fund's full prospectus and supplement, together with the applicable KID and the most recent annual and semi-annual reports.
Copies of the Fund’s prospectus and supplement can be obtained from State Street Fund Services (Ireland) Limited, by visiting www.thornburg.com/ucits or by contacting the local paying or representative agent or local distributor in the jurisdictions in which the Fund is available for distribution, and are available in English. The KIDs can be obtained from www.thornburg.com/ucits and are available in one of the official languages of each of the EU Member States into which the Fund has been notified for marketing under the Directive 2009/65/EC (the UCITS Directive).
In addition, a summary of investor rights is available from www.thornburg.com/ucits. The summary is available in English.
The Fund is currently notified for marketing into a number of EU Member States under the UCITS Directive. The Fund can terminate such notifications for any share class and/or the Fund at any time using the process contained in Article 93a of the UCITS Directive.
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. For risks materially relevant to the Fund, please read the Fund’s Annual Report or Prospectus/Supplement available at www.thornburg.com/ucits.
No securities commission or regulatory authority has in any way passed upon the merits of an investment in the Fund or the accuracy or adequacy of this information or the material contained herein or otherwise. Neither this or the Offering Documents have been approved in any jurisdiction where the Fund has not been registered for public offer and sale. This information is not, and under no circumstances is to be construed as the Offering Documents, a public offering or an offering memorandum as defined under applicable securities legislation. Application for shares may only be made by way of the Fund's most recent Offering Documents.
For United Kingdom: 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. 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.
This communication 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.
For Hong Kong: This document is issued by Thornburg Investment Management (Asia) Limited ("Company"), a wholly-owned subsidiary of Thornburg Investment Management, Inc. The Company is currently licensed with the Hong Kong SFC for Type 1 and Type 9 regulated activity, with the CE No.: BPQ208.
This material has not been reviewed nor endorsed by any regulatory authority in Hong Kong, including the Securities and Futures Commission, nor has a copy been registered with the Registrar of Companies in Hong Kong. Hong Kong residents are advised to exercise caution in relation to this information. This is directed at and intended for "Professional Investors" within the meaning of Part1 of Schedule 1 to the Securities and Futures Ordinance.
This material is for the confidential use of the recipient only and should not be given, forwarded or shown to any other person (other than employees, agents or consultants in connection with the recipient's consideration thereof). The Company is authorized by the Fund to facilitate the distribution of shares in certain other jurisdictions through dealers, referral agents, sub-distributors and other financial intermediaries. Any entity forwarding this material to other parties takes full responsibility for ensuring compliance with applicable securities laws in connection with its distribution.
For Singapore: Recipients of this information in Singapore should note shares of the Fund may not be offered or sold, nor may this or any other information or material in connection with the offer or sale of such share be circulated or distributed, whether directly or indirectly, to any person in Singapore other than (i) to an institutional investor (as defined in Section 4A(1)(c) of the Securities and Futures Act (Cap. 289) of Singapore) (the SFA), (ii) to a relevant person as defined in Section 305 of the SFA or any person pursuant to an offer referred to in Section 305(2) of the SFA and in accordance with the conditions specified in Section 305 of the SFA, or (iii) pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.
For Denmark: The Fund is only available to professional investors.
For Germany: The local information agent is GerFIS - German Fund Information Service UG (Haftungsbeschränkt), which may be contacted at Zum Eichhagen 4, 21382 Brietlingen, Germany.
For Italy: The Fund is only available to professional investors.
For Norway: The Fund is only available to professional investors.
For Spain: The local representative is Allfunds Bank, S.A., which may be contacted at Estafeta, 6, La Moraleja, Complejo Plaza de la Fuente, Alcobendas, Madrid.
For Sweden: The local paying agent is Skandinaviska Enskilda Banken (publ) AB, which may be contacted at Kungsträdgårdsgatan 8 SE-106 40 Stockholm.
For Argentina, Bolivia, Brazil, Chile, Mexico, Peru, Uruguay: This material is for informational purposes and is intended only for Investment Professionals, as that term is defined in each jurisdiction. This information relates to a foreign Fund which is not subject to any form of local regulation or licensing. No regulator, government authority, or other entities are responsible for reviewing or verifying, and have not reviewed or verified, this information, the merits of the Fund or services represented, the offering documents, or any other documents in connection with this Fund. Interests may not be offered or sold to the public and documents relating to this Fund (as well as the information contained herein) may not be supplied to the general public for purposes of a public offering or be used in connection with any offer or subscription for sale to the public.
Manager: Waystone Management Company (Ireland) Limited | www.waystone.com | +353.1.619.2300
Administrator: State Street Fund Services (Ireland) Limited | ThornburgTA@statestreet.com | +353.1.242.5580
Distributor: Thornburg Investment Management, United States | contactglobal@thornburg.com | +1.855.732.9301
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