Thornburg Developing World Fund
Name
As of 04/15/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.7%
1 yr return
2.9%
3 Yr Avg Return
-9.0%
5 Yr Avg Return
1.2%
Net Assets
$943 M
Holdings in Top 10
37.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.28%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/15/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
THDIX - Profile
Distributions
- YTD Total Return 1.7%
- 3 Yr Annualized Total Return -9.0%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.34%
- Dividend Yield 2.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameThornburg Developing World Fund
-
Fund Family NameTHORNBURG
-
Inception DateDec 16, 2009
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCharlie Wilson
Fund Description
Under normal market conditions, the Fund pursues its objective by investing at least 80% of its net assets in equity securities of issuers which Thornburg views as having substantial economic ties to one or more developing countries. The material factors that Thornburg considers when determining whether an issuer has substantial economic ties to a developing country include whether the issuer:
•is included in the MSCI Emerging Markets Index;
•is organized or headquartered in a developing country, or maintains most of its assets in one or more such countries;
•has a primary listing for its securities on a stock exchange of a developing country; or
•derives a majority of its profits, revenues, sales, or income from one or more developing countries.
Currently, Thornburg considers developing countries to include most Central and South American, African, Asian (including the Middle and Near East, and the Indian subcontinent) and Central and Eastern European nations.
The Fund may invest in issuers of any size of capitalization, including small companies, and expects that under normal conditions its assets will be invested in issuers domiciled in or tied economically to a variety of different developing countries.
The Fund’s policy of investing at least 80% of its net assets in developing country issuers may be changed by the Fund’s Trustees without a shareholder vote upon 60 days’ notice to shareholders. As used herein, the term “net assets” includes the amount of any borrowings made by the Fund for investment purposes.
Among the specific factors considered in identifying securities for inclusion in the Fund are domestic and international economic developments, outlooks for securities markets, the supply and demand for equity securities, and analysis of specific issuers. Thornburg typically categorizes the Fund’s equity investments in one of the following three categories:
Basic Value: Companies generally operating in mature or cyclical industries and which generally exhibit more economic sensitivity and/or higher volatility in earnings and cash flow.
Consistent Earner: Companies which generally exhibit predictable growth, profitability, cash flow and/or dividends.
Emerging Franchise: Companies with the potential to grow at an above average rate because of a product or service that is establishing a new market and/or taking share from existing participants.
Inclusion of any investment in any of the three described categories represents Thornburg’s opinion concerning the characteristics and prospects of the investment. There is no assurance that any company selected for investment will, once categorized in one of the three described investment categories, continue to have the positive characteristics or fulfill the expectations that Thornburg had for the company when it was selected for investment, and any such company may not grow or may decline in earnings and size.
The Fund may sell an investment if Thornburg has identified a better investment opportunity, in response to changes in the conditions or business of the investment’s issuer or changes in overall market conditions, if Thornburg has a target price for the investment and that target price has been achieved, or if, in Thornburg’s opinion, the investment no longer serves to achieve the Fund’s investment goals.
THDIX - Performance
Return Ranking - Trailing
Period | THDIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.7% | -10.2% | 10.8% | 22.60% |
1 Yr | 2.9% | -11.5% | 31.8% | 65.63% |
3 Yr | -9.0%* | -24.7% | 7.6% | 65.47% |
5 Yr | 1.2%* | -8.7% | 10.6% | 50.71% |
10 Yr | 2.2%* | -2.9% | 6.6% | 53.65% |
* Annualized
Return Ranking - Calendar
Period | THDIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.4% | -6.5% | 35.5% | 89.16% |
2022 | -26.8% | -50.1% | -2.4% | 71.51% |
2021 | -2.7% | -33.1% | 22.5% | 35.99% |
2020 | 22.8% | -22.1% | 80.1% | 31.79% |
2019 | 27.9% | -0.7% | 42.0% | 6.22% |
Total Return Ranking - Trailing
Period | THDIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.7% | -10.2% | 10.8% | 22.60% |
1 Yr | 2.9% | -11.5% | 31.8% | 65.63% |
3 Yr | -9.0%* | -24.7% | 7.6% | 65.47% |
5 Yr | 1.2%* | -8.7% | 10.6% | 50.71% |
10 Yr | 2.2%* | -2.9% | 6.6% | 53.65% |
* Annualized
Total Return Ranking - Calendar
Period | THDIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.6% | -2.7% | 42.0% | 85.37% |
2022 | -25.5% | -42.2% | 1.9% | 71.65% |
2021 | -2.7% | -32.5% | 33.1% | 59.14% |
2020 | 23.0% | -20.0% | 81.6% | 33.80% |
2019 | 29.7% | 2.3% | 42.0% | 7.18% |
NAV & Total Return History
THDIX - Holdings
Concentration Analysis
THDIX | Category Low | Category High | THDIX % Rank | |
---|---|---|---|---|
Net Assets | 943 M | 682 K | 103 B | 36.68% |
Number of Holdings | 59 | 10 | 7049 | 81.39% |
Net Assets in Top 10 | 358 M | 118 K | 19.2 B | 34.94% |
Weighting of Top 10 | 37.90% | 0.7% | 122.2% | 34.05% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 7.48%
- Samsung Electronics Co Ltd 5.18%
- Max Healthcare Institute Ltd 3.69%
- SK Hynix Inc 3.28%
- Thornburg Capital Management Fund 3.24%
- PRIO SA/Brazil 3.20%
- AIA Group Ltd 3.04%
- Dino Polska SA 2.99%
- Varun Beverages Ltd 2.92%
- Tencent Holdings Ltd 2.89%
Asset Allocation
Weighting | Return Low | Return High | THDIX % Rank | |
---|---|---|---|---|
Stocks | 96.79% | 0.00% | 103.65% | 54.35% |
Preferred Stocks | 3.34% | 0.00% | 10.09% | 11.51% |
Other | 0.00% | -1.64% | 50.31% | 19.95% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 76.68% |
Cash | 0.00% | -2.03% | 99.29% | 98.80% |
Bonds | 0.00% | 0.00% | 94.30% | 80.19% |
Stock Sector Breakdown
Weighting | Return Low | Return High | THDIX % Rank | |
---|---|---|---|---|
Financial Services | 26.13% | 0.00% | 48.86% | 17.34% |
Technology | 21.46% | 0.00% | 47.50% | 56.23% |
Consumer Cyclical | 15.77% | 0.00% | 48.94% | 21.41% |
Communication Services | 12.79% | 0.00% | 39.29% | 13.28% |
Energy | 6.05% | 0.00% | 24.80% | 23.85% |
Basic Materials | 5.19% | 0.00% | 30.03% | 73.44% |
Industrials | 4.09% | 0.00% | 43.53% | 78.32% |
Consumer Defense | 3.96% | 0.00% | 25.90% | 81.98% |
Utilities | 2.53% | 0.00% | 39.12% | 31.30% |
Healthcare | 2.02% | 0.00% | 16.53% | 79.40% |
Real Estate | 0.00% | 0.00% | 17.15% | 97.15% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | THDIX % Rank | |
---|---|---|---|---|
Non US | 85.66% | 0.00% | 100.18% | 46.99% |
US | 11.13% | 0.00% | 101.58% | 47.39% |
THDIX - Expenses
Operational Fees
THDIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.28% | 0.03% | 24.48% | 53.63% |
Management Fee | 0.95% | 0.00% | 2.00% | 65.68% |
12b-1 Fee | N/A | 0.00% | 1.00% | 16.72% |
Administrative Fee | 0.10% | 0.01% | 0.85% | 60.62% |
Sales Fees
THDIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
THDIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 91.74% |
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.
THDIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 189.00% | 44.83% |
THDIX - Distributions
Dividend Yield Analysis
THDIX | Category Low | Category High | THDIX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.98% | 0.00% | 10.09% | 44.18% |
Dividend Distribution Analysis
THDIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
THDIX | Category Low | Category High | THDIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.34% | -1.98% | 17.62% | 64.44% |
Capital Gain Distribution Analysis
THDIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Quarterly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 14, 2023 | $0.434 | OrdinaryDividend |
Dec 15, 2022 | $0.359 | OrdinaryDividend |
Dec 17, 2020 | $0.043 | OrdinaryDividend |
Dec 20, 2019 | $0.309 | OrdinaryDividend |
Dec 21, 2018 | $0.238 | OrdinaryDividend |
Sep 22, 2017 | $0.080 | OrdinaryDividend |
Jun 23, 2017 | $0.065 | OrdinaryDividend |
Mar 24, 2017 | $0.014 | OrdinaryDividend |
Sep 26, 2016 | $0.088 | OrdinaryDividend |
Dec 24, 2015 | $0.011 | OrdinaryDividend |
Sep 24, 2015 | $0.098 | OrdinaryDividend |
Dec 24, 2014 | $0.071 | OrdinaryDividend |
Sep 24, 2014 | $0.062 | OrdinaryDividend |
Dec 24, 2013 | $0.007 | OrdinaryDividend |
Dec 24, 2012 | $0.091 | OrdinaryDividend |
Dec 27, 2010 | $0.035 | OrdinaryDividend |
THDIX - Fund Manager Analysis
Managers
Charlie Wilson
Start Date
Tenure
Tenure Rank
Feb 18, 2015
7.28
7.3%
Charlie Wilson is portfolio manager for Thornburg Investment Management. He joined the firm in 2012 as associate portfolio manager and was promoted to portfolio manager in 2014. Charlie earned a BS in geology from the University of Arizona in Tucson and a PhD in geophysics from the University of Colorado in Boulder. Prior to joining Thornburg, Charlie served as co-portfolio manager for Marsico Capital Management in Denver, Colorado. He was responsible for portfolio investments across multiple strategies and geographies, with specialization in materials, energy, technology, and payments sectors.
Ben Kirby
Start Date
Tenure
Tenure Rank
Feb 18, 2015
7.28
7.3%
Ben Kirby, CFA Co-Head of Investments and Managing Director Ben Kirby is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Ben is also a portfolio manager on multiple strategies. He joined Thornburg in 2008 as equity research analyst, was promoted to associate portfolio manager in 2011, and was named portfolio manager and managing director 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.
Joshua Rubin
Start Date
Tenure
Tenure Rank
Feb 01, 2021
1.33
1.3%
Josh Rubin is an associate portfolio manager for Thornburg Investment Management. He joined Thornburg in 2017 as a client portfolio manager, supporting the global strategies, and was promoted to associate portfolio manager in 2018. Before joining Thornburg, Josh held several positions at Driehaus Capital Management in Chicago, including portfolio manager of the global, U.S. large-cap, and U.S. mid-cap equity strategies, and assistant portfolio manager responsible for emerging markets. Prior to Driehaus, Josh co-managed the emerging markets equity strategy at Marsico Capital Management in Denver, where he was also a senior analyst covering global companies across sectors. He began his career in finance as an investment banker in the fixed income division of George K. Baum & Company in Denver. Josh holds a BSFS in international politics from the Walsh School of Foreign Service at Georgetown University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.54 | 13.42 |