SECTOR ALLOCATION as of 30/04/2019

  • Financials24.7%
  • Communication Services13.8%
  • Health Care10.4%
  • Energy9.8%
  • Information Technology9.2%
  • Industrials9.1%
  • Consumer Discretionary6.9%
  • Utilities6.8%
  • Consumer Staples4.4%
  • Materials3.1%
  • Real Estate1.7%

Ten Largest Holdings as of 31/03/2019

Orange S.A.3.8%
Walgreens Boots Alliance, Inc.3.4%
Atlantia SpA3.2%
Electricite de France S.A.3.2%
Merck & Co., Inc.3.2%
Royal Dutch Shell plc3.1%
Total S.A.3.0%
Enel SpA2.9%
NN Group N.V.2.8%
China Mobile Ltd.2.6%
Portfolio holdings are subject to change.


Assets$21.94 M
Dividend Yield4.4%
Portfolio P/E Forward 12 Months*12.4x
Portfolio Price to Cash Flow*6.0x
Portfolio Price to Book*1.6x
Median Market Capitalization*$45.1 B
Number of Holdings71
5-Year Beta (A shares vs. Blended Index)0.98
* Source: FactSet
Source: Morningstar


  • Non-U.S. Equity65.8%
  • U.S. Equity29.7%
  • Cash & Cash Equivalents4.5%
The percentages may not add up to 100 due to rounding.


  • Europe ex UK50.7%
  • North America31.8%
  • Asia Pacific ex Japan9.8%
  • UK6.7%
  • Other1.0%
Holdings are classified by country of risk as determined by MSCI and Bloomberg. The percentages may not add up to 100 due to rounding.


  • Large Cap (> $12 B)90.5%
  • Mid Cap ($2.5 to $12 B)7.3%
  • Small Cap (< $2.5 B)2.2%
The percentages may not add up to 100 due to rounding.
Important Information

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

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.

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

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

Thornburg Investment Income Builder Fund's Blended Index is composed of 25% Bloomberg Barclays U.S. Aggregate Bond Index and 75% MSCI World Index, rebalanced monthly.

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. © 2019 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.

Administrator: Brown Brothers Harriman Fund Administration Services (Ireland) Limited, Ireland, +353.1.603.6490

Please see our glossary for a definition of terms.