TIBCX: Thornburg Investment Income Builder C

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TIBCX Thornburg Investment Income Builder C

  • Fund
  • TIBCX
  • Price as of: Dec 12, 2019
  • $22.24
    + $0.19 + 0.86%

Profile

TIBCX - Profile

Vitals

  • YTD Return 11.1%
  • 3 Yr Annualized Return 3.3%
  • 5 Yr Annualized Return 1.6%
  • Net Assets $14.4 B
  • Holdings in Top 10 33.3%

52 WEEK LOW AND HIGH

$22.24
$19.36
$22.41

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.87%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 43.69%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $5,000
  • IRA $2,000

Fund Classification


Distributions

  • YTD Total Return 11.1%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 1.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.60%
DIVIDENDS
  • Dividend Yield 1.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Thornburg Investment Income Builder Fund
  • Fund Family Name
    Thornburg
  • Inception Date
    Dec 24, 2002
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brian J. McMahon

Fund Description

The Thornburg Investment Income Builder Fund Class C (TIBCX) is an actively managed world-allocation fund that aims to provide high income. The growth of that income is a secondary objective. The fund can invest in both domestic and foreign stocks as well as bonds of any kind to accomplish this objective. The fund is able to shift through these various asset classes at will in response to fund management’s analysis of market conditions and value opportunities.

Given TIBCX’s sweeping approach to achieving income, the fund can be used as a core solution for investors looking to boost the yield of their portfolios. The fund is managed by Thornburg Investment Management, Inc.


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Categories

Performance

TIBCX - Performance

Return Ranking - Trailing

Period TIBCX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% -12.8% 28.9% 92.60%
1 Yr 7.4% -13.7% 20.5% 56.38%
3 Yr 3.3%* -12.1% 12.1% 54.26%
5 Yr 1.6%* -8.6% 8.0% 45.26%
10 Yr 2.3%* -6.3% 13.8% 82.05%

* Annualized

Return Ranking - Calendar

Period TIBCX Return Category Return Low Category Return High Rank in Category (%)
2018 -8.7% -27.8% -5.4% 3.85%
2017 9.9% -20.0% 22.1% 85.90%
2016 5.2% -13.4% 24.5% 32.41%
2015 -9.1% -38.1% 2.4% 71.43%
2014 -0.2% -36.8% 11.0% 61.95%

Total Return Ranking - Trailing

Period TIBCX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% -12.8% 28.9% 92.60%
1 Yr 7.4% -17.7% 20.6% 72.45%
3 Yr 3.3%* -12.1% 12.4% 84.57%
5 Yr 1.6%* -8.6% 9.1% 82.11%
10 Yr 2.3%* -6.3% 15.4% 85.47%

* Annualized

Total Return Ranking - Calendar

Period TIBCX Return Category Return Low Category Return High Rank in Category (%)
2018 -8.7% -27.8% -1.2% 26.41%
2017 9.9% -20.0% 26.6% 89.36%
2016 5.2% -13.4% 24.5% 76.54%
2015 -9.1% -38.1% 2.4% 90.14%
2014 -0.2% -36.8% 14.4% 86.28%

NAV & Total Return History


Holdings

TIBCX - Holdings

Concentration Analysis

TIBCX Category Low Category High TIBCX % Rank
Net Assets 14.4 B 1 M 14.4 B 1.25%
Number of Holdings 164 6 664 5.53%
Net Assets in Top 10 4.8 B 1.36 M 4.8 B 1.26%
Weighting of Top 10 33.27% 12.8% 214.9% 95.23%

Top 10 Holdings

  1. Orange SA 4.79%
  2. Thornburg Capital Management 4.37%
  3. CME Group Inc Class A 3.91%
  4. Taiwan Semiconductor Manufacturing Co Ltd 3.65%
  5. China Mobile Ltd 3.30%
  6. JPMorgan Chase & Co 2.89%
  7. Vodafone Group PLC 2.77%
  8. Royal Dutch Shell PLC ADR Class A 2.54%
  9. Total SA 2.54%
  10. The Home Depot Inc 2.50%

Asset Allocation

Weighting Return Low Return High TIBCX % Rank
Stocks
87.35% 80.27% 136.49% 62.56%
Bonds
7.71% -83.67% 25.39% 50.75%
Cash
4.25% -24.98% 41.63% 31.41%
Preferred Stocks
0.39% 0.00% 6.40% 6.53%
Convertible Bonds
0.31% 0.00% 3.11% 2.51%
Other
0.00% -40.50% 26.80% 91.46%

Stock Sector Breakdown

Weighting Return Low Return High TIBCX % Rank
Financial Services
17.77% 0.00% 40.53% 7.29%
Communication Services
13.66% 0.00% 13.66% 1.26%
Energy
11.29% 0.00% 35.85% 4.02%
Healthcare
10.08% 0.00% 24.20% 68.09%
Technology
9.70% 0.00% 26.64% 82.66%
Real Estate
6.55% 0.00% 37.39% 40.95%
Basic Materials
4.54% 0.00% 31.61% 13.57%
Consumer Cyclical
4.44% 0.00% 16.83% 93.97%
Utilities
4.00% 0.00% 59.62% 19.85%
Industrials
3.62% 0.26% 43.86% 97.74%
Consumer Defense
1.68% 0.00% 24.97% 94.97%

Stock Geographic Breakdown

Weighting Return Low Return High TIBCX % Rank
Non US
49.86% 19.49% 99.51% 14.07%
US
37.49% -0.59% 71.20% 92.71%

Bond Sector Breakdown

Weighting Return Low Return High TIBCX % Rank
Corporate
8.07% 0.00% 14.89% 5.03%
Cash & Equivalents
4.25% -24.98% 75.82% 28.39%
Securitized
0.15% -54.47% 9.02% 72.86%
Municipal
0.15% 0.00% 0.22% 5.28%
Government
0.04% -101.84% 14.38% 80.90%
Derivative
0.00% -34.64% 2.74% 60.80%

Bond Geographic Breakdown

Weighting Return Low Return High TIBCX % Rank
US
5.10% -127.00% 25.39% 54.52%
Non US
2.61% -0.47% 43.33% 15.83%

Expenses

TIBCX - Expenses

Operational Fees

TIBCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.87% 0.02% 111.01% 17.39%
Management Fee 0.69% 0.00% 1.66% 89.20%
12b-1 Fee 1.00% 0.00% 1.00% 97.07%
Administrative Fee 0.10% 0.00% 0.32% 43.81%

Sales Fees

TIBCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.25% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 62.96%

Trading Fees

TIBCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

TIBCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 43.69% 7.00% 614.00% 68.96%

Distributions

TIBCX - Distributions

Dividend Yield Analysis

TIBCX Category Low Category High TIBCX % Rank
Dividend Yield 1.77% 0.00% 7.25% 88.72%

Dividend Distribution Analysis

TIBCX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

TIBCX Category Low Category High TIBCX % Rank
Net Income Ratio 3.60% -0.50% 13.14% 3.58%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

TIBCX - Fund Manager Analysis

Managers

Brian J. McMahon


Start Date

Tenure

Tenure Rank

Dec 24, 2002

16.95

17.0%

Brian McMahon is chief investment strategist for Thornburg Investment Management. Brian is deeply respected for his market and investment insight and serves as a key voice for the investment team and Thornburg clients. He also co-manages Thornburg’s global equity portfolios. Brian joined Thornburg in 1984 as chief investment officer, a role he held until 2019. 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 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.

Jason Brady


Start Date

Tenure

Tenure Rank

Feb 01, 2007

12.84

12.8%

Jason Brady is president and CEO of Thornburg Investment Management. He is responsible for the company’s overall strategy and direction. He is also 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.

Ben Kirby


Start Date

Tenure

Tenure Rank

Feb 01, 2013

6.83

6.8%

Ben Kirby is 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.

Matt Burdett


Start Date

Tenure

Tenure Rank

Feb 01, 2019

0.83

0.8%

Matt Burdett is portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager and was promoted to portfolio manager in 2018. Matt 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, Matt worked as an equity analyst at Thornburg. Matt was director of healthcare investment banking at CIBC World Markets / Oppenheimer prior to joining Thornburg in 2010. Earlier in his career, he was a medicinal chemist at Sunesis Pharmaceuticals. Matt holds an MBA from the Marshall School of Business at the University of Southern California and a bachelor’s degree in chemistry from the University of California, Berkeley.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 22.93 4.35 2.38