THMIX: Thornburg Intermediate Municipal Inst

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THMIX Thornburg Intermediate Municipal Inst


Profile

THMIX - Profile

Vitals

  • YTD Return -1.0%
  • 3 Yr Annualized Return 0.0%
  • 5 Yr Annualized Return 0.1%
  • Net Assets $997 M
  • Holdings in Top 10 9.0%

52 WEEK LOW AND HIGH

$14.14
$13.18
$14.69

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.65%

SALES FEES

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

BROKERAGE FEES

  • Turnover 15.88%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500,000
  • IRA N/A

Fund Classification

  • Primary Caregory Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Interm

Distributions

  • YTD Total Return -1.0%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.67%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Thornburg Intermediate Municipal Fund
  • Fund Family Name
    Thornburg
  • Inception Date
    Jul 05, 1996
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Nicholos Venditti

Fund Description

The fund normally invests 100% of its assets in municipal obligations. It invests principally in a laddered maturity portfolio of municipal obligations issued by states and state agencies, local governments and their agencies, and by United States territories and possessions.


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Categories

Performance

THMIX - Performance

Return Ranking - Trailing

Period THMIX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -31.4% 945.6% 73.95%
1 Yr -0.1% -25.1% 973.3% 75.23%
3 Yr 0.0%* -10.3% 120.3% 68.09%
5 Yr 0.1%* -5.3% 60.2% 57.81%
10 Yr 0.6%* -5.1% 3.6% 27.81%

* Annualized

Return Ranking - Calendar

Period THMIX Return Category Return Low Category Return High Rank in Category (%)
2019 3.1% -1.7% 18.3% 69.41%
2018 -1.8% -12.4% 0.8% 30.26%
2017 1.3% -6.0% 20.3% 43.66%
2016 -2.4% -7.8% 8.6% 69.29%
2015 0.0% -18.3% 3.0% 13.86%

Total Return Ranking - Trailing

Period THMIX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -31.4% 945.6% 73.95%
1 Yr -0.1% -25.1% 973.3% 75.23%
3 Yr 0.0%* -7.5% 120.3% 71.78%
5 Yr 0.1%* -5.3% 60.2% 64.77%
10 Yr 0.6%* -5.1% 6.8% 46.03%

* Annualized

Total Return Ranking - Calendar

Period THMIX Return Category Return Low Category Return High Rank in Category (%)
2019 3.1% -1.7% 18.3% 69.77%
2018 -1.8% -11.7% 3.1% 38.86%
2017 1.3% -6.0% 27.0% 52.72%
2016 -2.4% -7.8% 10.7% 72.12%
2015 0.0% -14.2% 4.2% 21.96%

NAV & Total Return History


Holdings

THMIX - Holdings

Concentration Analysis

THMIX Category Low Category High THMIX % Rank
Net Assets 997 M 634 K 264 B 40.83%
Number of Holdings 471 1 17920 36.95%
Net Assets in Top 10 91 M -587 M 20.8 B 54.27%
Weighting of Top 10 8.99% 2.3% 100.0% 89.43%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High THMIX % Rank
Bonds
99.32% 71.08% 159.74% 23.27%
Cash
0.68% -59.74% 27.48% 69.57%
Stocks
0.00% -0.38% 18.10% 64.53%
Preferred Stocks
0.00% 0.00% 9.11% 68.23%
Other
0.00% -27.60% 31.83% 63.50%
Convertible Bonds
0.00% 0.00% 7.31% 79.87%

Bond Sector Breakdown

Weighting Return Low Return High THMIX % Rank
Municipal
99.32% 0.00% 100.11% 18.09%
Cash & Equivalents
0.68% -26.49% 24.02% 77.57%
Derivative
0.00% -0.83% 31.72% 66.61%
Securitized
0.00% 0.00% 98.72% 81.59%
Corporate
0.00% 0.00% 99.41% 85.40%
Government
0.00% -2.21% 100.00% 83.00%

Bond Geographic Breakdown

Weighting Return Low Return High THMIX % Rank
US
98.55% 58.40% 156.78% 20.70%
Non US
0.77% -38.91% 29.50% 72.18%

Expenses

THMIX - Expenses

Operational Fees

THMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.01% 34.57% 62.29%
Management Fee 0.46% 0.00% 1.25% 74.22%
12b-1 Fee N/A 0.00% 1.00% 15.92%
Administrative Fee 0.10% 0.00% 0.50% 53.97%

Sales Fees

THMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

THMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

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.

THMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 15.88% 0.00% 489.00% 19.90%

Distributions

THMIX - Distributions

Dividend Yield Analysis

THMIX Category Low Category High THMIX % Rank
Dividend Yield 0.45% 0.00% 6.20% 5.50%

Dividend Distribution Analysis

THMIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

THMIX Category Low Category High THMIX % Rank
Net Income Ratio 2.67% -0.71% 6.02% 43.72%

Capital Gain Distribution Analysis

THMIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

THMIX - Fund Manager Analysis

Managers

Nicholos Venditti


Start Date

Tenure

Tenure Rank

Feb 01, 2015

5.25

5.3%

Nicholos Venditti, CFA Portfolio Manager and Managing Director Nicholos Venditti is portfolio manager for Thornburg Investment Management. Nick joined Thornburg in 2010 as a fixed income research analyst and was promoted to associate portfolio manager in 2011 and portfolio manager and managing director in 2015. Nick earned an MS in finance from Syracuse University, an MA in applied economics from the University of North Carolina–Greensboro, and a BA from Trinity University. Prior to joining Thornburg Investment Management, Nick spent three years working as assistant vice president for bond insurer FSA (now merged with Assured Guaranty Corp).

David Ashley


Start Date

Tenure

Tenure Rank

Feb 01, 2019

1.24

1.2%

David Ashley is portfolio manager for Thornburg Investment Management. He joined Thornburg as associate portfolio manager in 2011 and was named portfolio manager in 2019. Dave earned a BS in finance and MBA from the University of Delaware in 2001. He is also a CFA charterholder. Prior to joining Thornburg Investment Management, Dave was a credit analyst for Wilmington Trust in Delaware.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.44 7.42 0.33