Investments in the Strategy carry risks, including possible loss of principal. Special 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 capitalization companies may increase the risk of greater price fluctuations. Carefully consider the Strategy’s investment objectives, risks, fees and expenses before investing. There is no guarantee that the Strategy will meet its investment objectives.
The information provided herein should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account's portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed may not represent an account's entire portfolio and in the aggregate may represent only a small percentage of an account's portfolio holdings. It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein.
Weight percentages are of the total portfolio unless otherwise noted.
Portfolio characteristics are derived using currently available data from independent research resources that are believed to be accurate. Portfolio attributes can and do vary.
Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment losses.
Portfolios invested in a limited number of holdings may expose an investor to greater volatility.
Portfolio construction will have significant differences from that of a benchmark index in terms of security holdings, industry weightings, asset allocations and number of positions held, all of which may contribute to performance, characteristics and volatility differences. Investors may not make direct investments into any index. Investors may not make direct investments into any index.
Valuations are computed and reported in U.S. dollars.
Source: Advent/APX, FactSet, APL, Vestmark, and Thornburg.
View the International ADR Composite GIPS compliant presentation.
To receive a complete list and description of Thornburg Investment Management's composites, please contact the Business Development Group at firstname.lastname@example.org
Please see our glossary for a definition of terms.