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TIBIX Thornburg Investment Income Builder I

  • Fund
  • TIBIX
  • Price as of: Apr 18, 2019
  • $21.96
  • - $0.07
  • - 0.32%
  • Category
  • Global Allocation

TIBIX - Profile

Vitals

  • YTD Return 8.8%
  • 3 Yr Annualized Return 8.5%
  • 5 Yr Annualized Return 4.6%
  • Net Assets $14.4 B
  • Holdings in Top 10 30.1%

52 WEEK LOW AND HIGH

$21.96
$19.52
$22.16

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.86%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 41.17%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$2,500,000

IRA

N/A

Investment Themes

CATEGORY

Global Allocation
  • Fund Type Open End Mutual Fund
  • Investment Style World Allocation

Distributions

  • YTD Total Return 8.8%
  • 3 Yr Annualized Total Return 8.5%
  • 5 Yr Annualized Total Return 4.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.58%
DIVIDENDS
  • Dividend Yield 1.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Thornburg Investment Income Builder Fund
  • Fund Family Name Thornburg
  • Inception Date Nov 03, 2003
  • Shares Outstanding 358011927
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Jason Brady

TIBIX - Performance

Return Ranking - Trailing

Period TIBIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.8% -25.7% 14.9% 34.84% 2
1 Yr 5.0% -35.4% 26.6% 15.45% 1
3 Yr 8.5% * -5.5% 17.2% 5.07% 1
5 Yr 4.6% * -3.8% 7.4% 14.70% 1
10 Yr 11.2% * -0.9% 11.8% 1.79% 1

* Annualized


Return Ranking - Calendar

Period TIBIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -8.6% -32.0% 20.0% 41.14% 3
2017 10.0% -15.3% 26.2% 34.19% 2
2016 5.3% -24.6% 210.7% 13.21% 1
2015 -9.1% -30.7% 14.2% 69.01% 4
2014 -0.1% -21.3% 20.1% 36.41% 3

Total Return Ranking - Trailing

Period TIBIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.8% -100.0% 14.9% 34.84% 2
1 Yr 5.0% -35.4% 40.9% 11.80% 1
3 Yr 8.5% * -5.7% 17.2% 4.11% 1
5 Yr 4.6% * -3.9% 6.6% 12.34% 1
10 Yr 11.2% * 1.3% 11.8% 1.34% 1

* Annualized


Total Return Ranking - Calendar

Period TIBIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -8.6% -32.0% 18.4% 40.91% 3
2017 10.0% -11.9% 26.2% 34.88% 2
2016 5.3% -9.5% 210.8% 23.58% 2
2015 -9.1% -29.2% 35.6% 88.14% 5
2014 -0.1% -17.9% 35.7% 81.00% 5

NAV & Total Return History

TIBIX - Holdings

Filings data as of: Feb 28, 2019

Concentration Analysis

TIBIX Category Low Category High TIBIX % Rank Quintile
Net Assets 14.4 B 246 K 104 B 1.69% 1
Number of Holdings 185 2 3648 11.84% 3
Net Assets in Top 10 4.29 B -58.9 M 19.7 B 1.90% 1
Weighting of Top 10 30.1% 0.0% 950.3% 20.08% 4

Top 10 Holdings

  1. JPMorgan Chase & Co 2.77%
  2. China Mobile Ltd 3.72%
  3. CME Group Inc Class A 3.87%
  4. Royal Dutch Shell PLC ADR Class A 3.34%
  5. Orange SA 3.43%
  6. Electricite de France SA 2.66%
  7. Total SA 2.58%
  8. Walgreens Boots Alliance Inc 2.47%
  9. Taiwan Semiconductor Manufacturing Co Ltd 2.35%
  10. Deutsche Telekom AG 2.95%

Asset Allocation

Weighting Category Low Category High TIBIX % Rank Quintile
Stocks
88.93% -18.32% 259.25% 1.69% 1
Bonds
7.93% -234.98% 120.80% 25.37% 5
Cash
1.89% -106.19% 118.36% 22.41% 4
Other
0.50% -0.97% 101.91% 17.12% 4
Preferred Stocks
0.40% 0.00% 17.16% 5.71% 1
Convertible Bonds
0.33% 0.00% 13.02% 4.86% 1

Stock Sector Breakdown

Weighting Category Low Category High TIBIX % Rank Quintile
Financial Services
17.88% -1.55% 38.98% 1.30% 1
Communication Services
14.31% -0.71% 16.82% 0.43% 1
Energy
10.47% -0.11% 28.00% 2.17% 1
Healthcare
8.39% -5.59% 20.86% 4.57% 2
Industrials
7.61% 0.00% 18.58% 6.74% 2
Technology
6.73% -3.70% 44.06% 15.00% 3
Real Estate
6.42% -0.70% 29.94% 4.57% 1
Consumer Defense
4.52% -1.18% 18.16% 10.65% 3
Utilities
4.48% -0.50% 33.09% 2.83% 1
Basic Materials
4.21% -0.11% 19.84% 7.17% 1
Consumer Cyclical
3.75% -7.62% 25.91% 20.00% 4

Stock Geographic Breakdown

Weighting Category Low Category High TIBIX % Rank Quintile
Non US
54.33% -15.36% 159.65% 2.54% 1
US
34.60% -45.05% 99.60% 6.77% 2

Bond Sector Breakdown

Weighting Category Low Category High TIBIX % Rank Quintile
Corporate
8.34% 0.00% 57.61% 15.43% 3
Cash & Equivalents
0.47% -103.93% 141.04% 25.58% 5
Securitized
0.25% 0.00% 29.27% 14.80% 3
Government
0.07% -242.10% 120.80% 26.43% 5
Municipal
0.02% 0.00% 9.55% 5.92% 2
Derivative
0.00% -12.61% 16.06% 4.86% 2

Bond Geographic Breakdown

Weighting Category Low Category High TIBIX % Rank Quintile
US
6.10% -262.85% 668.05% 22.41% 4
Non US
1.83% -716.47% 73.38% 22.83% 5

TIBIX - Expenses

Operational Fees

TIBIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.86% 0.01% 19.72% 37.71% 2
Management Fee 0.69% 0.00% 1.70% 5.74% 3
12b-1 Fee 0.00% 0.00% 1.00% 5.20% 1
Administrative Fee 0.10% 0.00% 0.55% 5.02% 3

Sales Fees

TIBIX Fees (% of AUM) Category Low Category High TIBIX Rank Quintile
Front Load N/A 0.15% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

TIBIX Fees (% of AUM) Category Low Category High TIBIX Rank Quintile
Max Redemption Fee 1.00% 0.11% 2.00% 4.48% 1

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TIBIX Fees (% of AUM) Category Low Category High TIBIX Rank Quintile
Turnover 41.17% 0.00% 1837.00% 14.74% 2

TIBIX - Distributions

Dividend Yield Analysis

TIBIX Category Low Category High TIBIX % Rank Quintile
Dividend Yield 1.2% 0.00% 2.18% 6.76% 1

Dividend Distribution Analysis

TIBIX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

TIBIX Category Low Category High TIBIX % Rank Quintile
Net Income Ratio 4.58% -1.83% 7.59% 2.12% 1

Capital Gain Distribution Analysis

TIBIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

TIBIX - Managers

Jason Brady

Manager

Start Date

Feb 01, 2007

Tenure

12.17

Tenure Rank

1.4%

Jason Brady is president and CEO of Thornburg Investment Management. He is responsible for the company’s overall strategy and direction. He is also the head of the firm’s global fixed income investment team and a portfolio manager on multiple strategies. He joined the firm in 2006, was made portfolio manager and managing director in 2007, and president and CEO in 2016. His book Income Investing: An Intelligent Approach to Profiting from Bonds, Stocks and Money Markets is a step-by-step guide to income investing. Jason holds a BA with honors in English and environmental biology from Dartmouth College, and an MBA with concentrations in analytical finance and accounting from Northwestern’s Kellogg Graduate School of Management. He is a CFA charterholder. Prior to joining Thornburg, Jason was a portfolio manager with Fortis Investments in Boston, and has held various positions at Fidelity Investments and Lehman Brothers.


Brian J. McMahon

Manager

Start Date

Dec 24, 2002

Tenure

16.28

Tenure Rank

0.5%

As chief investment officer, Brian McMahon is responsible for Thornburg Investment Management’s overall investment activity. He also co-manages Thornburg’s global equity portfolios. Brian served as president of the firm from 1997 to 2015 and CEO from 2008 to 2015 and was promoted to vice chairman in 2016. He managed Thornburg’s laddered bond portfolios from their inceptions from 1984 until 2000 and remains actively involved in securities analysis for various Thornburg managed portfolios. Brian holds an MBA from Tuck School of Business at Dartmouth College and a BA in economics and Russian studies from the University of Virginia. After receiving his MBA, Brian joined Norwest Bank in 1979, and held various corporate finance positions before joining Thornburg Investment Management as chief investment officer in 1984.


Ben Kirby

Manager

Start Date

Feb 01, 2013

Tenure

6.16

Tenure Rank

4.9%

Ben Kirby joined Thornburg in 2008 as an equity research analyst. He was promoted to associate portfolio manager in 2011 and was named portfolio manager in 2013. Ben holds a BA in computer science from Fort Lewis College and an MBA from Duke University's Fuqua School of Business. Prior to graduate school, Ben was a software engineer at Pinnacle Business Systems in Oklahoma City, Oklahoma. He is a CFA charterholder.


Matt Burdett

Manager

Start Date

Feb 01, 2019

Tenure

0.16

Tenure Rank

12.5%

Matt Burdett, a managing director of Thornburg. Mr. Burdett rejoined Thornburg in 2015 as an associate portfolio manager, was promoted to portfolio manager of one of Thornburg’s proprietary investment strategies in 2018, and was named a managing director in 2018. Prior to his rejoining Thornburg, Mr. Burdett spent several years as a senior vice president and portfolio manager at PIMCO, where he co-managed various dividend-oriented strategies. Prior to his time at PIMCO, Mr. Burdett worked as an equity analyst at Thornburg, and before that he was director of healthcare investment banking at CIBC World Markets / Oppenheimer and a medicinal chemist at Sunesis Pharmaceuticals. He holds a bachelor’s degree in chemistry from the University of California, Berkeley and an MBA from the University of Southern California.


Tenure Analysis

Category Low

0.0

Category High

27.3

Category Average

5.52

Category Mode

4.3