Thornburg International Equity Fund Celebrates 25-Year Anniversary

PRNewswire 21-Aug-2023 4:01 PM

SANTA FE, N.M., Aug. 21, 2023 /PRNewswire/ -- Thornburg Investment Management ("Thornburg"), a global investment firm that oversees $42 billion in assets¹, recently announced the 25-year anniversary of the $2.5 billion Thornburg International Equity Fund ("Fund").

The Fund, which launched on May 28, 1998, is co-managed by portfolio managers Lei Wang and Matt Burdett, as well as Joe Salmond, who serves as an associate portfolio manager. As of June 30, 2023, the Fund's I-shares (Ticker: TGVIX) was ranked in the top quartile of Morningstar's Foreign Large Blend category over 5- and 10-year periods based on total returns before sales charges among 616 and 409 funds, respectively. Since its inception, the Fund carries an overall four-star rating out of 678 funds, based on risk-adjusted returns and uses a weighted average of the fund's three-, five-, and 10-year ratings respectively, 3 stars, 5 stars and 4 stars, among 678, 616 and 409 funds, as of June 30, 2023.

"Our research process identifies promising businesses at attractive prices around developed international markets," said Mr. Wang. "Our three-basket portfolio construction process—basic value, consistent earners and emerging franchises—seeks to provide style diversification, reduce volatility and produce attractive risk-adjusted performance across market cycles."

"This is a significant milestone for Thornburg," said Thornburg Vice Chairman and Chief Investment Strategist Brian McMahon. "Thornburg International Equity Fund's 25-year track record of outperformance is a testament to our long-term investment philosophy. With Lei, Matt, and Joe at the helm and with support from our entire investment team, bottom-up stock selection demonstrates the Fund's value in providing long-term positive returns to our investors."

To learn more about Thornburg International Equity Fund, please visit https://www.thornburg.com/product/mutual-funds/fiv/?class=I

About Thornburg

Thornburg Investment Management is a global investment firm delivering on strategy for institutions, financial professionals and investors worldwide. The privately held firm, founded in 1982, is an active, high-conviction manager of fixed income, equities, multi-asset solutions and sustainable investments. With $42 billion¹ in client assets as of June 30, 2023, the firm offers mutual funds, closed-end funds, institutional accounts, separate accounts and UCITS funds for non-U.S. investors.

As an independent firm, Thornburg can take on a wide range of opportunities, explore ideas thoroughly and work across strategies to deliver consistent risk-adjusted outperformance over the long term. The firm attracts free-thinking professionals who are eager to pursue investment outcomes beyond the confines of popular wisdom. From nimble operational capabilities to principles and actions fitting of a global citizen, Thornburg's world-class investment platform and team are aligned on strategy to serve investors.

Thornburg's U.S. headquarters is in Santa Fe, New Mexico with offices in Hong Kong and Shanghai. For more information, visit www.thornburg.com or call 877 215 1330.

Media Inquiries
Michael Corrao
Director of Global Communications
Thornburg Investment Management
Tel: +1 (505) 467-5345
Email: mcorrao@thornburg.com

Important Information

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. For performance current to the most recent month end, visit thornburg.com or call 877-215-1330.

Before investing, carefully consider the Fund's investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit thornburg.com. Read them carefully before investing.

Past performance is no guarantee of future results.

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

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.

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.

© 2023 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 Corporation.

¹ Includes $41 billion in assets under management and $1 billion in assets under advisement as of June 30, 2023.

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SOURCE Thornburg Investment Management