Thornburg Intermediate Municipal Fund

SYMBOL: THMCX

Morningstar Rating • Info

Overall Morningstar Rating among 261 Muni National Intermediate funds, based on risk-adjusted returns for class C shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 3 stars, 3 stars and 2 stars among 261, 238 and 177 funds, as of 31 Mar 2024.

As of 31 Mar 2024

Fund Assets

$984.0 M

As of 31 Mar 2024

NAV

$13.21

As of 8 Apr 2024

Change

$0.00

As of 8 Apr 2024

YTD NAV Performance

-0.24%

As of 8 Apr 2024

Asset Category:

Municipal Bond

Fund Benchmark:

ICE BofA 3-15 Yr US Muni

Portfolio Managers

David Ashley, CFA

Portfolio Manager and Managing Director

John Bonnell, CFA

Portfolio Manager and Managing Director

Eve Lando, JD

Portfolio Manager and Managing Director

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

Overview

Why Invest in This Fund?

Actively managed diversified portfolio of intermediate-term investment grade municipal bonds with an average maturity of three to ten years and duration of four to six years.
Proven bottom-up fundamental approach that incorporates a top-down macroeconomic overlay to identify what we perceive to be the most attractive opportunities on a relative value basis across geographic regions, sectors, issuers and revenue streams.
Relative value philosophy that seeks to maximize tax-exempt income while minimizing changes in its share value. The fund focuses on identifying attractive value in the investment-grade municipal bond market. We apply a strict discipline of fundamental credit research and strive to produce an attractive dividend while avoiding the long maturities that are most vulnerable to interest-rate swings.

Investment Objective

The fund’s goal is to provide investors with as high a level of current income exempt from federal individual income tax as is consistent with preservation of capital. The fund also seeks to reduce share price volatility compared to longer-term bond portfolios.

Investment Approach

The fund is an actively managed diversified portfolio of municipal bonds. The investment team applies a relative value framework, focusing on fundamentals and valuations to identify inefficiencies in the market. Team members are responsible for credit research, portfolio construction, trading and risk oversight and have the flexibility to source ideas across sector, geography and issuer. The strategy maintains exposure across the maturity spectrum to manage duration, hedge against interest rate fluctuations and limit taxable events.

Returns

(As of 31 Mar 2024)

YTD

10y

Inception

Total Return with Sales Charge (%)

-0.38

2.81

-0.34

1.06

1.56

3.31

Total Return without Sales Charge (%)

0.22

3.41

-0.34

1.06

1.56

3.31

ICE BofA 3-15 Yr US Muni (%)

-0.31

2.59

-0.16

1.59

2.39

—

Morningstar Category Avg. (%)

0.12

3.35

-0.39

1.36

2.08

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return with Sales Charge (%)

-0.38

2.81

-0.34

1.06

1.56

3.31

Total Return without Sales Charge (%)

0.22

3.41

-0.34

1.06

1.56

3.31

ICE BofA 3-15 Yr US Muni (%)

-0.31

2.59

-0.16

1.59

2.39

—

Morningstar Category Avg. (%)

0.12

3.35

-0.39

1.36

2.08

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return with Sales Charge (%)

-0.38

2.81

-1.01

5.40

16.71

162.03

Total Return without Sales Charge (%)

0.22

3.41

-1.01

5.40

16.71

162.03

ICE BofA 3-15 Yr US Muni (%)

-0.31

2.59

-0.49

8.23

26.64

—

YTD

10y

Inception

Total Return with Sales Charge (%)

-0.38

2.81

-1.01

5.40

16.71

162.03

Total Return without Sales Charge (%)

0.22

3.41

-1.01

5.40

16.71

162.03

ICE BofA 3-15 Yr US Muni (%)

-0.31

2.59

-0.49

8.23

26.64

—

2018

2019

2020

2021

2022

2023

Total Return with Sales Charge (%)

-0.38

4.66

2.82

0.02

-7.29

4.46

ICE BofA 3-15 Yr US Muni (%)

1.45

7.01

4.96

0.94

-6.64

5.41

Source: Confluence

Periods less than one year are not annualized.

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.

The maximum sales charge for the Fund's A shares is 2.00%. C shares include a 0.60% contingent deferred sales charge (CDSC) for the first year only. There is no up-front sales charge for class I shares.

Morningstar quartile ranking for Muni National Interm category is based on total returns before sales charges for 1-, 3-, 5- and 10-years, among 301, 272, 238 and 182 funds, respectively, as of 30 Jun 2023.

Share class inception dates: A shares, 22 Jul 1991; C shares, 1 Sep 1994; I shares, 5 Jul 1996.

Fund Fees

(As of 1 Feb 2024)

Gross Expense Ratio (%)

1.36

Net Expense Ratio (%)

1.09

Distributions

            Categories,Total ($)
            1994-01-31,0
1994-02-28,0
1994-03-31,0
1994-04-30,0
1994-05-31,0
1994-06-30,0
1994-07-31,0
1994-08-31,0
1994-09-30,0.05428
1994-10-31,0.04701
1994-11-30,0.04858
1994-12-31,0.04852
1995-01-31,0.04957
1995-02-28,0.05042
1995-03-31,0.04928
1995-04-30,0.05377
1995-05-31,0.05309
1995-06-30,0.04833
1995-07-31,0.04868
1995-08-31,0.04903
1995-09-30,0.04929
1995-10-31,0.05184
1995-11-30,0.05193
1995-12-31,0.05154
1996-01-31,0.05229
1996-02-29,0.05296
1996-03-31,0.05208
1996-04-30,0.05263
1996-05-31,0.05192
1996-06-30,0.05253
1996-07-31,0.05197
1996-08-31,0.05166
1996-09-30,0.05186
1996-10-31,0.05176
1996-11-30,0.05192
1996-12-31,0.05066
1997-01-31,0.05103
1997-02-28,0.05226
1997-03-31,0.05099
1997-04-30,0.05139
1997-05-31,0.05053
1997-06-30,0.05074
1997-07-31,0.04869
1997-08-31,0.04886
1997-09-30,0.04932
1997-10-31,0.04858
1997-11-30,0.04882
1997-12-31,0.04837
1998-01-31,0.04843
1998-02-28,0.04956
1998-03-31,0.04768
1998-04-30,0.04819
1998-05-31,0.04747
1998-06-30,0.04753
1998-07-31,0.04711
1998-08-31,0.04684
1998-09-30,0.04749
1998-10-31,0.04682
1998-11-30,0.04745
1998-12-31,0.04716
1999-01-31,0.04681
1999-02-28,0.04853
1999-03-31,0.04678
1999-04-30,0.04739
1999-05-31,0.04676
1999-06-30,0.04767
1999-07-31,0.04727
1999-08-31,0.04607
1999-09-30,0.04632
1999-10-31,0.04623
1999-11-30,0.04742
1999-12-31,0.04660
2000-01-31,0.04670
2000-02-29,0.04746
2000-03-31,0.04688
2000-04-30,0.04818
2000-05-31,0.04718
2000-06-30,0.04767
2000-07-31,0.04788
2000-08-31,0.04760
2000-09-30,0.04864
2000-10-31,0.04762
2000-11-30,0.04751
2000-12-31,0.04723
2001-01-31,0.04911
2001-02-28,0.04827
2001-03-31,0.04687
2001-04-30,0.04714
2001-05-31,0.04721
2001-06-30,0.04754
2001-07-31,0.04697
2001-08-31,0.04645
2001-09-30,0.04535
2001-10-31,0.04448
2001-11-30,0.04435
2001-12-31,0.04323
2002-01-31,0.04375
2002-02-28,0.04391
2002-03-31,0.04285
2002-04-30,0.04280
2002-05-31,0.04250
2002-06-30,0.04230
2002-07-31,0.04113
2002-08-31,0.04010
2002-09-30,0.04015
2002-10-31,0.03956
2002-11-30,0.04029
2002-12-31,0.03983
2003-01-31,0.03947
2003-02-28,0.03975
2003-03-31,0.03805
2003-04-30,0.03832
2003-05-31,0.03790
2003-06-30,0.03787
2003-07-31,0.03956
2003-08-31,0.04187
2003-09-30,0.04127
2003-10-31,0.04062
2003-11-30,0.04059
2003-12-31,0.03985
2004-01-31,0.03957
2004-02-29,0.04000
2004-03-31,0.03930
2004-04-30,0.04018
2004-05-31,0.04069
2004-06-30,0.04171
2004-07-31,0.04019
2004-08-31,0.03921
2004-09-30,0.03884
2004-10-31,0.03810
2004-11-30,0.03837
2004-12-31,0.03741
2005-01-31,0.03754
2005-02-28,0.03890
2005-03-31,0.03778
2005-04-30,0.03878
2005-05-31,0.03815
2005-06-30,0.03820
2005-07-31,0.03822
2005-08-31,0.03855
2005-09-30,0.01260
2005-10-31,0.03705
2005-11-30,0.03761
2005-12-31,0.03718
2006-01-31,0.03899
2006-02-28,0.03754
2006-03-31,0.03849
2006-04-30,0.03882
2006-05-31,0.03863
2006-06-30,0.03954
2006-07-31,0.03926
2006-08-31,0.03925
2006-09-30,0.03917
2006-10-31,0.03894
2006-11-30,0.03928
2006-12-31,0.03912
2007-01-31,0.03986
2007-02-28,0.04037
2007-03-31,0.03930
2007-04-30,0.03980
2007-05-31,0.03938
2007-06-30,0.03891
2007-07-31,0.03955
2007-08-31,0.03988
2007-09-30,0.04019
2007-10-31,0.03946
2007-11-30,0.03963
2007-12-31,0.03923
2008-01-31,0.03900
2008-02-29,0.04077
2008-03-31,0.04053
2008-04-30,0.04044
2008-05-31,0.03879
2008-06-30,0.04002
2008-07-31,0.03980
2008-08-31,0.04024
2008-09-30,0.04122
2008-10-31,0.04133
2008-11-30,0.04148
2008-12-31,0.04200
2009-01-31,0.04222
2009-02-28,0.04316
2009-03-31,0.04187
2009-04-30,0.04223
2009-05-31,0.04184
2009-06-30,0.04220
2009-07-31,0.04265
2009-08-31,0.04184
2009-09-30,0.04073
2009-10-31,0.03957
2009-11-30,0.04119
2009-12-31,0.03989
2010-01-31,0.03945
2010-02-28,0.03958
2010-03-31,0.03744
2010-04-30,0.03833
2010-05-31,0.03723
2010-06-30,0.03738
2010-07-31,0.03607
2010-08-31,0.03524
2010-09-30,0.03473
2010-10-31,0.03382
2010-11-30,0.03506
2010-12-31,0.03615
2011-01-31,0.03747
2011-02-28,0.03917
2011-03-31,0.03852
2011-04-30,0.03824
2011-05-31,0.03696
2011-06-30,0.03768
2011-07-31,0.03566
2011-08-31,0.03509
2011-09-30,0.03422
2011-10-31,0.03411
2011-11-30,0.03386
2011-12-31,0.03404
2012-01-31,0.03135
2012-02-29,0.03009
2012-03-31,0.02808
2012-04-30,0.02812
2012-05-31,0.02806
2012-06-30,0.02902
2012-07-31,0.02812
2012-08-31,0.02731
2012-09-30,0.02777
2012-10-31,0.02610
2012-11-30,0.02643
2012-12-31,0.02562
2013-01-31,0.02530
2013-02-28,0.02537
2013-03-31,0.02267
2013-04-30,0.02323
2013-05-31,0.02225
2013-06-30,0.02326
2013-07-31,0.02279
2013-08-31,0.02282
2013-09-30,0.02416
2013-10-31,0.02407
2013-11-30,0.02457
2013-12-31,0.02477
2014-01-31,0.02444
2014-02-28,0.02777
2014-03-31,0.02535
2014-04-30,0.02501
2014-05-31,0.02343
2014-06-30,0.02433
2014-07-31,0.02402
2014-08-31,0.02403
2014-09-30,0.02355
2014-10-31,0.02160
2014-11-30,0.02207
2014-12-31,0.02080
2015-01-31,0.02037
2015-02-28,0.02292
2015-03-31,0.02027
2015-04-30,0.02090
2015-05-31,0.02007
2015-06-30,0.02040
2015-07-31,0.02019
2015-08-31,0.02027
2015-09-30,0.02190
2015-10-31,0.02182
2015-11-30,0.02217
2015-12-31,0.02039
2016-01-31,0.01869
2016-02-29,0.02025
2016-03-31,0.01891
2016-04-30,0.02010
2016-05-31,0.01942
2016-06-30,0.02066
2016-07-31,0.01947
2016-08-31,0.01931
2016-09-30,0.02040
2016-10-31,0.01955
2016-11-30,0.02057
2016-12-31,0.02060
2017-01-31,0.02069
2017-02-28,0.02317
2017-03-31,0.02135
2017-04-30,0.02258
2017-05-31,0.02208
2017-06-30,0.02274
2017-07-31,0.02185
2017-08-31,0.02144
2017-09-30,0.02219
2017-10-31,0.02124
2017-11-30,0.02234
2017-12-31,0.02196
2018-01-31,0.02193
2018-02-28,0.02450
2018-03-31,0.02228
2018-04-30,0.02347
2018-05-31,0.02251
2018-06-30,0.02334
2018-07-31,0.02240
2018-08-31,0.02282
2018-09-30,0.02342
2018-10-31,0.02339
2018-11-30,0.02387
2018-12-31,0.02348
2019-01-31,0.02338
2019-02-28,0.02587
2019-03-31,0.02346
2019-04-30,0.02440
2019-05-31,0.02471
2019-06-30,0.02605
2019-07-31,0.02513
2019-08-31,0.02490
2019-09-30,0.02502
2019-10-31,0.02403
2019-11-30,0.02496
2019-12-31,0.02429
2020-01-31,0.02407
2020-02-29,0.02657
2020-03-31,0.02572
2020-04-30,0.02642
2020-05-31,0.02536
2020-06-30,0.02509
2020-07-31,0.02384
2020-08-31,0.02330
2020-09-30,0.02388
2020-10-31,0.02282
2020-11-30,0.02380
2020-12-31,0.02274
2021-01-31,0.02294
2021-02-28,0.02515
2021-03-31,0.02261
2021-04-30,0.02325
2021-05-31,0.02243
2021-06-30,0.02340
2021-07-31,0.02205
2021-08-31,0.02173
2021-09-30,0.02212
2021-10-31,0.02101
2021-11-30,0.02181
2021-12-31,0.02051
2022-01-31,0.02015
2022-02-28,0.02302
2022-03-31,0.02097
2022-04-30,0.02439
2022-05-31,0.02334
2022-06-30,0.02425
2022-07-31,0.02440
2022-08-31,0.02505
2022-09-30,0.02584
2022-10-31,0.02668
2022-11-30,0.02784
2022-12-31,0.02816
2023-01-31,0.02747
2023-02-28,0.03089
2023-03-31,0.02822
2023-04-30,0.02971
2023-05-31,0.03012
2023-06-30,0.03060
2023-07-31,0.03058
2023-08-31,0.03068
2023-09-30,0.03131
2023-10-31,0.03214
2023-11-30,0.03348
2023-12-31,0.03326
2024-01-31,0.03213
2024-02-29,0.03366
2024-03-31,0.03300

            Ex-Date, Payable Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
1994-01-31,759974400,0,0,0,0
1994-02-28,762393600,0,0,0,0
1994-03-31,765072000,0,0,0,0
1994-04-30,767664000,0,0,0,0
1994-05-31,770342400,0,0,0,0
1994-06-30,772934400,0,0,0,0
1994-07-31,775612800,0,0,0,0
1994-08-31,778291200,0,0,0,0
1994-09-30,780883200,0.05428,0.05428,0,0
1994-10-31,783561600,0.04701,0.04701,0,0
1994-11-30,786153600,0.04858,0.04858,0,0
1994-12-30,788832000,0.04852,0.04852,0,0
1995-01-31,791510400,0.04957,0.04957,0,0
1995-02-28,793929600,0.05042,0.05042,0,0
1995-03-31,796608000,0.04928,0.04928,0,0
1995-04-28,799200000,0.05377,0.05377,0,0
1995-05-31,801878400,0.05309,0.05309,0,0
1995-06-30,804470400,0.04833,0.04833,0,0
1995-07-31,807148800,0.04868,0.04868,0,0
1995-08-31,809827200,0.04903,0.04903,0,0
1995-09-29,812419200,0.04929,0.04929,0,0
1995-10-31,815097600,0.05184,0.05184,0,0
1995-11-30,817689600,0.05193,0.05193,0,0
1995-12-29,820368000,0.05154,0.05154,0,0
1996-01-31,823046400,0.05229,0.05229,0,0
1996-02-29,825552000,0.05296,0.05296,0,0
1996-03-29,828230400,0.05208,0.05208,0,0
1996-04-30,830822400,0.05263,0.05263,0,0
1996-05-31,833500800,0.05192,0.05192,0,0
1996-06-28,836092800,0.05253,0.05253,0,0
1996-07-31,838771200,0.05197,0.05197,0,0
1996-08-30,841449600,0.05166,0.05166,0,0
1996-09-30,844041600,0.05186,0.05186,0,0
1996-10-31,846720000,0.05176,0.05176,0,0
1996-11-29,849312000,0.05192,0.05192,0,0
1996-12-31,851990400,0.05066,0.05066,0,0
1997-01-31,854668800,0.05103,0.05103,0,0
1997-02-28,857088000,0.05226,0.05226,0,0
1997-03-31,859766400,0.05099,0.05099,0,0
1997-04-30,862358400,0.05139,0.05139,0,0
1997-05-30,865036800,0.05053,0.05053,0,0
1997-06-30,867628800,0.05074,0.05074,0,0
1997-07-31,870307200,0.04869,0.04869,0,0
1997-08-29,872985600,0.04886,0.04886,0,0
1997-09-30,875577600,0.04932,0.04932,0,0
1997-10-31,878256000,0.04858,0.04858,0,0
1997-11-28,880848000,0.04882,0.04882,0,0
1997-12-31,883526400,0.04837,0.04837,0,0
1998-01-30,886204800,0.04843,0.04843,0,0
1998-02-27,888624000,0.04956,0.04956,0,0
1998-03-31,891302400,0.04768,0.04768,0,0
1998-04-30,893894400,0.04819,0.04819,0,0
1998-05-29,896572800,0.04747,0.04747,0,0
1998-06-30,899164800,0.04753,0.04753,0,0
1998-07-31,901843200,0.04711,0.04711,0,0
1998-08-31,904521600,0.04684,0.04684,0,0
1998-09-30,907113600,0.04749,0.04749,0,0
1998-10-30,909792000,0.04682,0.04682,0,0
1998-11-30,912384000,0.04745,0.04745,0,0
1998-12-31,915062400,0.04716,0.04716,0,0
1999-01-29,917740800,0.04681,0.04681,0,0
1999-02-26,920160000,0.04853,0.04853,0,0
1999-03-31,922838400,0.04678,0.04678,0,0
1999-04-30,925430400,0.04739,0.04739,0,0
1999-05-28,928108800,0.04676,0.04676,0,0
1999-06-30,930700800,0.04767,0.04767,0,0
1999-07-30,933379200,0.04727,0.04727,0,0
1999-08-31,936057600,0.04607,0.04607,0,0
1999-09-30,938649600,0.04632,0.04632,0,0
1999-10-29,941328000,0.04623,0.04623,0,0
1999-11-30,943920000,0.04742,0.04742,0,0
1999-12-31,946598400,0.04660,0.04660,0,0
2000-01-31,949276800,0.04670,0.04670,0,0
2000-02-29,951782400,0.04746,0.04746,0,0
2000-03-31,954460800,0.04688,0.04688,0,0
2000-04-28,957052800,0.04818,0.04818,0,0
2000-05-31,959731200,0.04718,0.04718,0,0
2000-06-30,962323200,0.04767,0.04767,0,0
2000-07-31,965001600,0.04788,0.04788,0,0
2000-08-31,967680000,0.04760,0.04760,0,0
2000-09-29,970272000,0.04864,0.04864,0,0
2000-10-31,972950400,0.04762,0.04762,0,0
2000-11-30,975542400,0.04751,0.04751,0,0
2000-12-29,978220800,0.04723,0.04723,0,0
2001-01-31,980899200,0.04911,0.04911,0,0
2001-02-28,983318400,0.04827,0.04827,0,0
2001-03-30,985996800,0.04687,0.04687,0,0
2001-04-30,988588800,0.04714,0.04714,0,0
2001-05-31,991267200,0.04721,0.04721,0,0
2001-06-29,993859200,0.04754,0.04754,0,0
2001-07-31,996537600,0.04697,0.04697,0,0
2001-08-31,999216000,0.04645,0.04645,0,0
2001-09-28,1001808000,0.04535,0.04535,0,0
2001-10-31,1004486400,0.04448,0.04448,0,0
2001-11-30,1007078400,0.04435,0.04435,0,0
2001-12-31,1009756800,0.04323,0.04323,0,0
2002-01-31,1012435200,0.04375,0.04375,0,0
2002-02-28,1014854400,0.04391,0.04391,0,0
2002-03-28,1017532800,0.04285,0.04285,0,0
2002-04-30,1020124800,0.04280,0.04280,0,0
2002-05-31,1022803200,0.04250,0.04250,0,0
2002-06-28,1025395200,0.04230,0.04230,0,0
2002-07-31,1028073600,0.04113,0.04113,0,0
2002-08-30,1030752000,0.04010,0.04010,0,0
2002-09-30,1033344000,0.04015,0.04015,0,0
2002-10-31,1036022400,0.03956,0.03956,0,0
2002-11-29,1038614400,0.04029,0.04029,0,0
2002-12-31,1041292800,0.03983,0.03983,0,0
2003-01-31,1043971200,0.03947,0.03947,0,0
2003-02-28,1046390400,0.03975,0.03975,0,0
2003-03-31,1049068800,0.03805,0.03805,0,0
2003-04-30,1051660800,0.03832,0.03832,0,0
2003-05-30,1054339200,0.03790,0.03790,0,0
2003-06-30,1056931200,0.03787,0.03787,0,0
2003-07-31,1059609600,0.03956,0.03956,0,0
2003-08-29,1062288000,0.04187,0.04187,0,0
2003-09-30,1064880000,0.04127,0.04127,0,0
2003-10-31,1067558400,0.04062,0.04062,0,0
2003-11-28,1070150400,0.04059,0.04059,0,0
2003-12-31,1072828800,0.03985,0.03985,0,0
2004-01-30,1075507200,0.03957,0.03957,0,0
2004-02-27,1078012800,0.04000,0.04000,0,0
2004-03-31,1080691200,0.03930,0.03930,0,0
2004-04-30,1083283200,0.04018,0.04018,0,0
2004-05-28,1085961600,0.04069,0.04069,0,0
2004-06-30,1088553600,0.04171,0.04171,0,0
2004-07-30,1091232000,0.04019,0.04019,0,0
2004-08-31,1093910400,0.03921,0.03921,0,0
2004-09-30,1096502400,0.03884,0.03884,0,0
2004-10-29,1099180800,0.03810,0.03810,0,0
2004-11-30,1101772800,0.03837,0.03837,0,0
2004-12-31,1104451200,0.03741,0.03741,0,0
2005-01-31,1107129600,0.03754,0.03754,0,0
2005-02-28,1109548800,0.03890,0.03890,0,0
2005-03-31,1112227200,0.03778,0.03778,0,0
2005-04-29,1114819200,0.03878,0.03878,0,0
2005-05-31,1117497600,0.03815,0.03815,0,0
2005-06-30,1120089600,0.03820,0.03820,0,0
2005-07-29,1122768000,0.03822,0.03822,0,0
2005-08-31,1125446400,0.03855,0.03855,0,0
2005-09-30,1128038400,0.01260,0.01260,0,0
2005-10-31,1130716800,0.03705,0.03705,0,0
2005-11-30,1133308800,0.03761,0.03761,0,0
2005-12-30,1135987200,0.03718,0.03718,0,0
2006-01-31,1138665600,0.03899,0.03899,0,0
2006-02-28,1141084800,0.03754,0.03754,0,0
2006-03-31,1143763200,0.03849,0.03849,0,0
2006-04-28,1146355200,0.03882,0.03882,0,0
2006-05-31,1149033600,0.03863,0.03863,0,0
2006-06-30,1151625600,0.03954,0.03954,0,0
2006-07-31,1154304000,0.03926,0.03926,0,0
2006-08-31,1156982400,0.03925,0.03925,0,0
2006-09-29,1159574400,0.03917,0.03917,0,0
2006-10-31,1162252800,0.03894,0.03894,0,0
2006-11-30,1164844800,0.03928,0.03928,0,0
2006-12-29,1167523200,0.03912,0.03912,0,0
2007-01-31,1170201600,0.03986,0.03986,0,0
2007-02-28,1172620800,0.04037,0.04037,0,0
2007-03-30,1175299200,0.03930,0.03930,0,0
2007-04-30,1177891200,0.03980,0.03980,0,0
2007-05-31,1180569600,0.03938,0.03938,0,0
2007-06-29,1183161600,0.03891,0.03891,0,0
2007-07-31,1185840000,0.03955,0.03955,0,0
2007-08-31,1188518400,0.03988,0.03988,0,0
2007-09-28,1191110400,0.04019,0.04019,0,0
2007-10-31,1193788800,0.03946,0.03946,0,0
2007-11-30,1196380800,0.03963,0.03963,0,0
2007-12-31,1199059200,0.03923,0.03923,0,0
2008-01-31,1201737600,0.03900,0.03900,0,0
2008-02-29,1204243200,0.04077,0.04077,0,0
2008-03-31,1206921600,0.04053,0.04053,0,0
2008-04-30,1209513600,0.04044,0.04044,0,0
2008-05-30,1212192000,0.03879,0.03879,0,0
2008-06-30,1214784000,0.04002,0.04002,0,0
2008-07-31,1217462400,0.03980,0.03980,0,0
2008-08-29,1220140800,0.04024,0.04024,0,0
2008-09-30,1222732800,0.04122,0.04122,0,0
2008-10-31,1225411200,0.04133,0.04133,0,0
2008-11-28,1228003200,0.04148,0.04148,0,0
2008-12-31,1230681600,0.04200,0.04200,0,0
2009-01-30,1233360000,0.04222,0.04222,0,0
2009-02-27,1235779200,0.04316,0.04316,0,0
2009-03-31,1238457600,0.04187,0.04187,0,0
2009-04-30,1241049600,0.04223,0.04223,0,0
2009-05-29,1243728000,0.04184,0.04184,0,0
2009-06-30,1246320000,0.04220,0.04220,0,0
2009-07-31,1248998400,0.04265,0.04265,0,0
2009-08-31,1251676800,0.04184,0.04184,0,0
2009-09-30,1254268800,0.04073,0.04073,0,0
2009-10-30,1256947200,0.03957,0.03957,0,0
2009-11-30,1259539200,0.04119,0.04119,0,0
2009-12-31,1262217600,0.03989,0.03989,0,0
2010-01-29,1264896000,0.03945,0.03945,0,0
2010-02-26,1267315200,0.03958,0.03958,0,0
2010-03-31,1269993600,0.03744,0.03744,0,0
2010-04-30,1272585600,0.03833,0.03833,0,0
2010-05-28,1275264000,0.03723,0.03723,0,0
2010-06-30,1277856000,0.03738,0.03738,0,0
2010-07-30,1280534400,0.03607,0.03607,0,0
2010-08-31,1283212800,0.03524,0.03524,0,0
2010-09-30,1285804800,0.03473,0.03473,0,0
2010-10-29,1288483200,0.03382,0.03382,0,0
2010-11-30,1291075200,0.03506,0.03506,0,0
2010-12-31,1293753600,0.03615,0.03615,0,0
2011-01-31,1296432000,0.03747,0.03747,0,0
2011-02-28,1298851200,0.03917,0.03917,0,0
2011-03-31,1301529600,0.03852,0.03852,0,0
2011-04-29,1304121600,0.03824,0.03824,0,0
2011-05-31,1306800000,0.03696,0.03696,0,0
2011-06-30,1309392000,0.03768,0.03768,0,0
2011-07-29,1312070400,0.03566,0.03566,0,0
2011-08-31,1314748800,0.03509,0.03509,0,0
2011-09-30,1317340800,0.03422,0.03422,0,0
2011-10-31,1320019200,0.03411,0.03411,0,0
2011-11-30,1322611200,0.03386,0.03386,0,0
2011-12-30,1325289600,0.03404,0.03404,0,0
2012-01-31,1327968000,0.03135,0.03135,0,0
2012-02-29,1330473600,0.03009,0.03009,0,0
2012-03-30,1333152000,0.02808,0.02808,0,0
2012-04-30,1335744000,0.02812,0.02812,0,0
2012-05-31,1338422400,0.02806,0.02806,0,0
2012-06-29,1341014400,0.02902,0.02902,0,0
2012-07-31,1343692800,0.02812,0.02812,0,0
2012-08-31,1346371200,0.02731,0.02731,0,0
2012-09-28,1348963200,0.02777,0.02777,0,0
2012-10-31,1351641600,0.02610,0.02610,0,0
2012-11-30,1354233600,0.02643,0.02643,0,0
2012-12-31,1356912000,0.02562,0.02562,0,0
2013-01-31,1359590400,0.02530,0.02530,0,0
2013-02-28,1362009600,0.02537,0.02537,0,0
2013-03-28,1364688000,0.02267,0.02267,0,0
2013-04-30,1367280000,0.02323,0.02323,0,0
2013-05-31,1369958400,0.02225,0.02225,0,0
2013-06-28,1372550400,0.02326,0.02326,0,0
2013-07-31,1375228800,0.02279,0.02279,0,0
2013-08-30,1377907200,0.02282,0.02282,0,0
2013-09-30,1380499200,0.02416,0.02416,0,0
2013-10-31,1383177600,0.02407,0.02407,0,0
2013-11-29,1385769600,0.02457,0.02457,0,0
2013-12-31,1388448000,0.02477,0.02477,0,0
2014-01-31,1391126400,0.02444,0.02444,0,0
2014-02-28,1393545600,0.02777,0.02777,0,0
2014-03-31,1396224000,0.02535,0.02535,0,0
2014-04-30,1398816000,0.02501,0.02501,0,0
2014-05-30,1401494400,0.02343,0.02343,0,0
2014-06-30,1404086400,0.02433,0.02433,0,0
2014-07-31,1406764800,0.02402,0.02402,0,0
2014-08-29,1409443200,0.02403,0.02403,0,0
2014-09-30,1412035200,0.02355,0.02355,0,0
2014-10-31,1414713600,0.02160,0.02160,0,0
2014-11-28,1417305600,0.02207,0.02207,0,0
2014-12-31,1419984000,0.02080,0.02080,0,0
2015-01-30,1422662400,0.02037,0.02037,0,0
2015-02-27,1425081600,0.02292,0.02292,0,0
2015-03-31,1427760000,0.02027,0.02027,0,0
2015-04-30,1430352000,0.02090,0.02090,0,0
2015-05-29,1433030400,0.02007,0.02007,0,0
2015-06-30,1435622400,0.02040,0.02040,0,0
2015-07-31,1438300800,0.02019,0.02019,0,0
2015-08-31,1440979200,0.02027,0.02027,0,0
2015-09-30,1443571200,0.02190,0.02190,0,0
2015-10-30,1446249600,0.02182,0.02182,0,0
2015-11-30,1448841600,0.02217,0.02217,0,0
2015-12-31,1451520000,0.02039,0.02039,0,0
2016-01-29,1454198400,0.01869,0.01869,0,0
2016-02-29,1456704000,0.02025,0.02025,0,0
2016-03-31,1459382400,0.01891,0.01891,0,0
2016-04-29,1461974400,0.02010,0.02010,0,0
2016-05-31,1464652800,0.01942,0.01942,0,0
2016-06-30,1467244800,0.02066,0.02066,0,0
2016-07-29,1469923200,0.01947,0.01947,0,0
2016-08-31,1472601600,0.01931,0.01931,0,0
2016-09-30,1475193600,0.02040,0.02040,0,0
2016-10-31,1477872000,0.01955,0.01955,0,0
2016-11-30,1480464000,0.02057,0.02057,0,0
2016-12-30,1483142400,0.02060,0.02060,0,0
2017-01-31,1485820800,0.02069,0.02069,0,0
2017-02-28,1488240000,0.02317,0.02317,0,0
2017-03-31,1490918400,0.02135,0.02135,0,0
2017-04-28,1493510400,0.02258,0.02258,0,0
2017-05-31,1496188800,0.02208,0.02208,0,0
2017-06-30,1498780800,0.02274,0.02274,0,0
2017-07-31,1501459200,0.02185,0.02185,0,0
2017-08-31,1504137600,0.02144,0.02144,0,0
2017-09-29,1506729600,0.02219,0.02219,0,0
2017-10-31,1509408000,0.02124,0.02124,0,0
2017-11-30,1512000000,0.02234,0.02234,0,0
2017-12-29,1514678400,0.02196,0.02196,0,0
2018-01-31,1517356800,0.02193,0.02193,0,0
2018-02-28,1519776000,0.02450,0.02450,0,0
2018-03-29,1522454400,0.02228,0.02228,0,0
2018-04-30,1525046400,0.02347,0.02347,0,0
2018-05-31,1527724800,0.02251,0.02251,0,0
2018-06-29,1530316800,0.02334,0.02334,0,0
2018-07-31,1532995200,0.02240,0.02240,0,0
2018-08-31,1535673600,0.02282,0.02282,0,0
2018-09-28,1538265600,0.02342,0.02342,0,0
2018-10-31,1540944000,0.02339,0.02339,0,0
2018-11-30,1543536000,0.02387,0.02387,0,0
2018-12-31,1546214400,0.02348,0.02348,0,0
2019-01-31,1548892800,0.02338,0.02338,0,0
2019-02-28,1551312000,0.02587,0.02587,0,0
2019-03-29,1553990400,0.02346,0.02346,0,0
2019-04-30,1556582400,0.02440,0.02440,0,0
2019-05-31,1559260800,0.02471,0.02471,0,0
2019-06-28,1561852800,0.02605,0.02605,0,0
2019-07-31,1564531200,0.02513,0.02513,0,0
2019-08-31,1567209600,0.02490,0.02490,0,0
2019-09-30,1569801600,0.02502,0.02502,0,0
2019-10-31,1572480000,0.02403,0.02403,0,0
2019-11-30,1575072000,0.02496,0.02496,0,0
2019-12-31,1577750400,0.02429,0.02429,0,0
2020-01-31,1580428800,0.02407,0.02407,0,0
2020-02-29,1582934400,0.02657,0.02657,0,0
2020-03-31,1585612800,0.02572,0.02572,0,0
2020-04-30,1588204800,0.02642,0.02642,0,0
2020-05-31,1590883200,0.02536,0.02536,0,0
2020-06-30,1593475200,0.02509,0.02509,0,0
2020-07-31,1596153600,0.02384,0.02384,0,0
2020-08-31,1598832000,0.02330,0.02330,0,0
2020-09-30,1601424000,0.02388,0.02388,0,0
2020-10-30,1604102400,0.02282,0.02282,0,0
2020-11-30,1606694400,0.02380,0.02380,0,0
2020-12-31,1609372800,0.02274,0.02274,0,0
2021-01-29,1612051200,0.02294,0.02294,0,0
2021-02-26,1614470400,0.02515,0.02515,0,0
2021-03-31,1617148800,0.02261,0.02261,0,0
2021-04-30,1619740800,0.02325,0.02325,0,0
2021-05-28,1622419200,0.02243,0.02243,0,0
2021-06-30,1625011200,0.02340,0.02340,0,0
2021-07-30,1627689600,0.02205,0.02205,0,0
2021-08-31,1630368000,0.02173,0.02173,0,0
2021-09-30,1632960000,0.02212,0.02212,0,0
2021-10-29,1635638400,0.02101,0.02101,0,0
2021-11-30,1638230400,0.02181,0.02181,0,0
2021-12-31,1640908800,0.02051,0.02051,0,0
2022-01-31,1643587200,0.02015,0.02015,0,0
2022-02-28,1646006400,0.02302,0.02302,0,0
2022-03-31,1648684800,0.02097,0.02097,0,0
2022-04-29,1651276800,0.02439,0.02439,0,0
2022-05-31,1653955200,0.02334,0.02334,0,0
2022-06-30,1656547200,0.02425,0.02425,0,0
2022-07-29,1659225600,0.02440,0.02440,0,0
2022-08-31,1661904000,0.02505,0.02505,0,0
2022-09-30,1664496000,0.02584,0.02584,0,0
2022-10-31,1667174400,0.02668,0.02668,0,0
2022-11-30,1669766400,0.02784,0.02784,0,0
2022-12-30,1672444800,0.02816,0.02816,0,0
2023-01-31,1675123200,0.02747,0.02747,0,0
2023-02-28,1677542400,0.03089,0.03089,0,0
2023-03-31,1680220800,0.02822,0.02822,0,0
2023-04-28,1682812800,0.02971,0.02971,0,0
2023-05-31,1685491200,0.03012,0.03012,0,0
2023-06-30,1688083200,0.03060,0.03060,0,0
2023-07-31,1690761600,0.03058,0.03058,0,0
2023-08-31,1693440000,0.03068,0.03068,0,0
2023-09-29,1696032000,0.03131,0.03131,0,0
2023-10-31,1698710400,0.03214,0.03214,0,0
2023-11-30,1701302400,0.03348,0.03348,0,0
2023-12-29,1703980800,0.03326,0.03326,0,0
2024-01-31,1706659200,0.03213,0.03213,0,0
2024-02-29,1709164800,0.03366,0.03366,0,0
2024-03-28,1711843200,0.03300,0.03300,0,0

Distributions

(As of 28 Mar 2024)

Ex-Date

Payable Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

31 Jan 1994

—

28 Feb 1994

—

31 Mar 1994

—

30 Apr 1994

—

31 May 1994

—

30 Jun 1994

—

31 Jul 1994

—

31 Aug 1994

—

30 Sep 1994

0.05428

—

31 Oct 1994

0.04701

—

30 Nov 1994

0.04858

—

30 Dec 1994

31 Dec 1994

0.04852

—

31 Jan 1995

0.04957

—

28 Feb 1995

0.05042

—

31 Mar 1995

0.04928

—

28 Apr 1995

30 Apr 1995

0.05377

—

31 May 1995

0.05309

—

30 Jun 1995

0.04833

—

31 Jul 1995

0.04868

—

31 Aug 1995

0.04903

—

29 Sep 1995

30 Sep 1995

0.04929

—

31 Oct 1995

0.05184

—

30 Nov 1995

0.05193

—

29 Dec 1995

31 Dec 1995

0.05154

—

31 Jan 1996

0.05229

—

29 Feb 1996

0.05296

—

29 Mar 1996

31 Mar 1996

0.05208

—

30 Apr 1996

0.05263

—

31 May 1996

0.05192

—

28 Jun 1996

30 Jun 1996

0.05253

—

31 Jul 1996

0.05197

—

30 Aug 1996

31 Aug 1996

0.05166

—

30 Sep 1996

0.05186

—

31 Oct 1996

0.05176

—

29 Nov 1996

30 Nov 1996

0.05192

—

31 Dec 1996

0.05066

—

31 Jan 1997

0.05103

—

28 Feb 1997

0.05226

—

31 Mar 1997

0.05099

—

30 Apr 1997

0.05139

—

30 May 1997

31 May 1997

0.05053

—

30 Jun 1997

0.05074

—

31 Jul 1997

0.04869

—

29 Aug 1997

31 Aug 1997

0.04886

—

30 Sep 1997

0.04932

—

31 Oct 1997

0.04858

—

28 Nov 1997

30 Nov 1997

0.04882

—

31 Dec 1997

0.04837

—

30 Jan 1998

31 Jan 1998

0.04843

—

27 Feb 1998

28 Feb 1998

0.04956

—

31 Mar 1998

0.04768

—

30 Apr 1998

0.04819

—

29 May 1998

31 May 1998

0.04747

—

30 Jun 1998

0.04753

—

31 Jul 1998

0.04711

—

31 Aug 1998

0.04684

—

30 Sep 1998

0.04749

—

30 Oct 1998

31 Oct 1998

0.04682

—

30 Nov 1998

0.04745

—

31 Dec 1998

0.04716

—

29 Jan 1999

31 Jan 1999

0.04681

—

26 Feb 1999

28 Feb 1999

0.04853

—

31 Mar 1999

0.04678

—

30 Apr 1999

0.04739

—

28 May 1999

31 May 1999

0.04676

—

30 Jun 1999

0.04767

—

30 Jul 1999

31 Jul 1999

0.04727

—

31 Aug 1999

0.04607

—

30 Sep 1999

0.04632

—

29 Oct 1999

31 Oct 1999

0.04623

—

30 Nov 1999

0.04742

—

31 Dec 1999

0.04660

—

31 Jan 2000

0.04670

—

29 Feb 2000

0.04746

—

31 Mar 2000

0.04688

—

28 Apr 2000

30 Apr 2000

0.04818

—

31 May 2000

0.04718

—

30 Jun 2000

0.04767

—

31 Jul 2000

0.04788

—

31 Aug 2000

0.04760

—

29 Sep 2000

30 Sep 2000

0.04864

—

31 Oct 2000

0.04762

—

30 Nov 2000

0.04751

—

29 Dec 2000

31 Dec 2000

0.04723

—

31 Jan 2001

0.04911

—

28 Feb 2001

0.04827

—

30 Mar 2001

31 Mar 2001

0.04687

—

30 Apr 2001

0.04714

—

31 May 2001

0.04721

—

29 Jun 2001

30 Jun 2001

0.04754

—

31 Jul 2001

0.04697

—

31 Aug 2001

0.04645

—

28 Sep 2001

30 Sep 2001

0.04535

—

31 Oct 2001

0.04448

—

30 Nov 2001

0.04435

—

31 Dec 2001

0.04323

—

31 Jan 2002

0.04375

—

28 Feb 2002

0.04391

—

28 Mar 2002

31 Mar 2002

0.04285

—

30 Apr 2002

0.04280

—

31 May 2002

0.04250

—

28 Jun 2002

30 Jun 2002

0.04230

—

31 Jul 2002

0.04113

—

30 Aug 2002

31 Aug 2002

0.04010

—

30 Sep 2002

0.04015

—

31 Oct 2002

0.03956

—

29 Nov 2002

30 Nov 2002

0.04029

—

31 Dec 2002

0.03983

—

31 Jan 2003

0.03947

—

28 Feb 2003

0.03975

—

31 Mar 2003

0.03805

—

30 Apr 2003

0.03832

—

30 May 2003

31 May 2003

0.03790

—

30 Jun 2003

0.03787

—

31 Jul 2003

0.03956

—

29 Aug 2003

31 Aug 2003

0.04187

—

30 Sep 2003

0.04127

—

31 Oct 2003

0.04062

—

28 Nov 2003

30 Nov 2003

0.04059

—

31 Dec 2003

0.03985

—

30 Jan 2004

31 Jan 2004

0.03957

—

27 Feb 2004

29 Feb 2004

0.04000

—

31 Mar 2004

0.03930

—

30 Apr 2004

0.04018

—

28 May 2004

31 May 2004

0.04069

—

30 Jun 2004

0.04171

—

30 Jul 2004

31 Jul 2004

0.04019

—

31 Aug 2004

0.03921

—

30 Sep 2004

0.03884

—

29 Oct 2004

31 Oct 2004

0.03810

—

30 Nov 2004

0.03837

—

31 Dec 2004

0.03741

—

31 Jan 2005

0.03754

—

28 Feb 2005

0.03890

—

31 Mar 2005

0.03778

—

29 Apr 2005

30 Apr 2005

0.03878

—

31 May 2005

0.03815

—

30 Jun 2005

0.03820

—

29 Jul 2005

31 Jul 2005

0.03822

—

31 Aug 2005

0.03855

—

30 Sep 2005

0.01260

—

31 Oct 2005

0.03705

—

30 Nov 2005

0.03761

—

30 Dec 2005

31 Dec 2005

0.03718

—

31 Jan 2006

0.03899

—

28 Feb 2006

0.03754

—

31 Mar 2006

0.03849

—

28 Apr 2006

30 Apr 2006

0.03882

—

31 May 2006

0.03863

—

30 Jun 2006

0.03954

—

31 Jul 2006

0.03926

—

31 Aug 2006

0.03925

—

29 Sep 2006

30 Sep 2006

0.03917

—

31 Oct 2006

0.03894

—

30 Nov 2006

0.03928

—

29 Dec 2006

31 Dec 2006

0.03912

—

31 Jan 2007

0.03986

—

28 Feb 2007

0.04037

—

30 Mar 2007

31 Mar 2007

0.03930

—

30 Apr 2007

0.03980

—

31 May 2007

0.03938

—

29 Jun 2007

30 Jun 2007

0.03891

—

31 Jul 2007

0.03955

—

31 Aug 2007

0.03988

—

28 Sep 2007

30 Sep 2007

0.04019

—

31 Oct 2007

0.03946

—

30 Nov 2007

0.03963

—

31 Dec 2007

0.03923

—

31 Jan 2008

0.03900

—

29 Feb 2008

0.04077

—

31 Mar 2008

0.04053

—

30 Apr 2008

0.04044

—

30 May 2008

31 May 2008

0.03879

—

30 Jun 2008

0.04002

—

31 Jul 2008

0.03980

—

29 Aug 2008

31 Aug 2008

0.04024

—

30 Sep 2008

0.04122

—

31 Oct 2008

0.04133

—

28 Nov 2008

30 Nov 2008

0.04148

—

31 Dec 2008

0.04200

—

30 Jan 2009

31 Jan 2009

0.04222

—

27 Feb 2009

28 Feb 2009

0.04316

—

31 Mar 2009

0.04187

—

30 Apr 2009

0.04223

—

29 May 2009

31 May 2009

0.04184

—

30 Jun 2009

0.04220

—

31 Jul 2009

0.04265

—

31 Aug 2009

0.04184

—

30 Sep 2009

0.04073

—

30 Oct 2009

31 Oct 2009

0.03957

—

30 Nov 2009

0.04119

—

31 Dec 2009

0.03989

—

29 Jan 2010

31 Jan 2010

0.03945

—

26 Feb 2010

28 Feb 2010

0.03958

—

31 Mar 2010

0.03744

—

30 Apr 2010

0.03833

—

28 May 2010

31 May 2010

0.03723

—

30 Jun 2010

0.03738

—

30 Jul 2010

31 Jul 2010

0.03607

—

31 Aug 2010

0.03524

—

30 Sep 2010

0.03473

—

29 Oct 2010

31 Oct 2010

0.03382

—

30 Nov 2010

0.03506

—

31 Dec 2010

0.03615

—

31 Jan 2011

0.03747

—

28 Feb 2011

0.03917

—

31 Mar 2011

0.03852

—

29 Apr 2011

30 Apr 2011

0.03824

—

31 May 2011

0.03696

—

30 Jun 2011

0.03768

—

29 Jul 2011

31 Jul 2011

0.03566

—

31 Aug 2011

0.03509

—

30 Sep 2011

0.03422

—

31 Oct 2011

0.03411

—

30 Nov 2011

0.03386

—

30 Dec 2011

31 Dec 2011

0.03404

—

31 Jan 2012

0.03135

—

29 Feb 2012

0.03009

—

30 Mar 2012

31 Mar 2012

0.02808

—

30 Apr 2012

0.02812

—

31 May 2012

0.02806

—

29 Jun 2012

30 Jun 2012

0.02902

—

31 Jul 2012

0.02812

—

31 Aug 2012

0.02731

—

28 Sep 2012

30 Sep 2012

0.02777

—

31 Oct 2012

0.02610

—

30 Nov 2012

0.02643

—

31 Dec 2012

0.02562

—

31 Jan 2013

0.02530

—

28 Feb 2013

0.02537

—

28 Mar 2013

31 Mar 2013

0.02267

—

30 Apr 2013

0.02323

—

31 May 2013

0.02225

—

28 Jun 2013

30 Jun 2013

0.02326

—

31 Jul 2013

0.02279

—

30 Aug 2013

31 Aug 2013

0.02282

—

30 Sep 2013

0.02416

—

31 Oct 2013

0.02407

—

29 Nov 2013

30 Nov 2013

0.02457

—

31 Dec 2013

0.02477

—

31 Jan 2014

0.02444

—

28 Feb 2014

0.02777

—

31 Mar 2014

0.02535

—

30 Apr 2014

0.02501

—

30 May 2014

31 May 2014

0.02343

—

30 Jun 2014

0.02433

—

31 Jul 2014

0.02402

—

29 Aug 2014

31 Aug 2014

0.02403

—

30 Sep 2014

0.02355

—

31 Oct 2014

0.02160

—

28 Nov 2014

30 Nov 2014

0.02207

—

31 Dec 2014

0.02080

—

30 Jan 2015

31 Jan 2015

0.02037

—

27 Feb 2015

28 Feb 2015

0.02292

—

31 Mar 2015

0.02027

—

30 Apr 2015

0.02090

—

29 May 2015

31 May 2015

0.02007

—

30 Jun 2015

0.02040

—

31 Jul 2015

0.02019

—

31 Aug 2015

0.02027

—

30 Sep 2015

0.02190

—

30 Oct 2015

31 Oct 2015

0.02182

—

30 Nov 2015

0.02217

—

31 Dec 2015

0.02039

—

29 Jan 2016

31 Jan 2016

0.01869

—

29 Feb 2016

0.02025

—

31 Mar 2016

0.01891

—

29 Apr 2016

30 Apr 2016

0.02010

—

31 May 2016

0.01942

—

30 Jun 2016

0.02066

—

29 Jul 2016

31 Jul 2016

0.01947

—

31 Aug 2016

0.01931

—

30 Sep 2016

0.02040

—

31 Oct 2016

0.01955

—

30 Nov 2016

0.02057

—

30 Dec 2016

31 Dec 2016

0.02060

—

31 Jan 2017

0.02069

—

28 Feb 2017

0.02317

—

31 Mar 2017

0.02135

—

28 Apr 2017

30 Apr 2017

0.02258

—

31 May 2017

0.02208

—

30 Jun 2017

0.02274

—

31 Jul 2017

0.02185

—

31 Aug 2017

0.02144

—

29 Sep 2017

30 Sep 2017

0.02219

—

31 Oct 2017

0.02124

—

30 Nov 2017

0.02234

—

29 Dec 2017

31 Dec 2017

0.02196

—

31 Jan 2018

0.02193

—

28 Feb 2018

0.02450

—

29 Mar 2018

31 Mar 2018

0.02228

—

30 Apr 2018

0.02347

—

31 May 2018

0.02251

—

29 Jun 2018

30 Jun 2018

0.02334

—

31 Jul 2018

0.02240

—

31 Aug 2018

0.02282

—

28 Sep 2018

30 Sep 2018

0.02342

—

31 Oct 2018

0.02339

—

30 Nov 2018

0.02387

—

31 Dec 2018

0.02348

—

31 Jan 2019

0.02338

—

28 Feb 2019

0.02587

—

29 Mar 2019

31 Mar 2019

0.02346

—

30 Apr 2019

0.02440

—

31 May 2019

0.02471

—

28 Jun 2019

30 Jun 2019

0.02605

—

31 Jul 2019

0.02513

—

31 Aug 2019

0.02490

—

30 Sep 2019

0.02502

—

31 Oct 2019

0.02403

—

30 Nov 2019

0.02496

—

31 Dec 2019

0.02429

—

31 Jan 2020

0.02407

—

29 Feb 2020

0.02657

—

31 Mar 2020

0.02572

—

30 Apr 2020

0.02642

—

31 May 2020

0.02536

—

30 Jun 2020

0.02509

—

31 Jul 2020

0.02384

—

31 Aug 2020

0.02330

—

30 Sep 2020

0.02388

—

30 Oct 2020

31 Oct 2020

0.02282

—

30 Nov 2020

0.02380

—

31 Dec 2020

0.02274

—

29 Jan 2021

31 Jan 2021

0.02294

—

26 Feb 2021

28 Feb 2021

0.02515

—

31 Mar 2021

0.02261

—

30 Apr 2021

0.02325

—

28 May 2021

31 May 2021

0.02243

—

30 Jun 2021

0.02340

—

30 Jul 2021

31 Jul 2021

0.02205

—

31 Aug 2021

0.02173

—

30 Sep 2021

0.02212

—

29 Oct 2021

31 Oct 2021

0.02101

—

30 Nov 2021

0.02181

—

31 Dec 2021

0.02051

—

31 Jan 2022

0.02015

—

28 Feb 2022

0.02302

—

31 Mar 2022

0.02097

—

29 Apr 2022

30 Apr 2022

0.02439

—

31 May 2022

0.02334

—

30 Jun 2022

0.02425

—

29 Jul 2022

31 Jul 2022

0.02440

—

31 Aug 2022

0.02505

—

30 Sep 2022

0.02584

—

31 Oct 2022

0.02668

—

30 Nov 2022

0.02784

—

30 Dec 2022

31 Dec 2022

0.02816

—

31 Jan 2023

0.02747

—

28 Feb 2023

0.03089

—

31 Mar 2023

0.02822

—

28 Apr 2023

30 Apr 2023

0.02971

—

31 May 2023

0.03012

—

30 Jun 2023

0.03060

—

31 Jul 2023

0.03058

—

31 Aug 2023

0.03068

—

29 Sep 2023

30 Sep 2023

0.03131

—

31 Oct 2023

0.03214

—

30 Nov 2023

0.03348

—

29 Dec 2023

31 Dec 2023

0.03326

—

31 Jan 2024

0.03213

—

29 Feb 2024

0.03366

—

28 Mar 2024

31 Mar 2024

0.03300

—

Fund Facts

(As of 31 Mar 2024)

Net Fund Assets

$984.0 M

Benchmark

ICE BofA 3-15 Yr US Muni

Morningstar Category

Muni National Intermediate

Fund Symbol

THMCX

Share Class

Share Class Inception Date

1 Sep 1994

Number of Holdings

482

Portfolio Turnover

40%

Distribution Frequency

Monthly

30-Day SEC Yield (Subsidized)

2.46%

30-Day SEC Yield (Unsubsidized)

2.20%

Annualized Distribution Yield

2.79%

Characteristics

Portfolio

(As of 31 Mar 2024)

Portfolio

Benchmark

Effective Duration

5.1 Yrs

5.0 Yrs

Average Effective Maturity

9.8 Yrs

8.1 Yrs

Weighted Average Coupon

4.9%

4.5%

Portfolio

Benchmark

Yield to Worst

3.8%

3.2%

Subject to Alternative Minimum Tax

13.8%

—

Risk & Return Profile

(As of 29 Feb 2024)

10y

Annualized Alpha (%)

0.32

0.27

0.17

Standard Deviation (%)

5.03

4.71

3.74

Sharpe Ratio

-0.44

-0.04

0.21

Up Capture (%)

83.64

87.65

85.73

Down Capture (%)

79.47

84.37

82.75

Past performance does not guarantee future results.

Portfolio

Top Holdings

(As of 29 Feb 2024)

Name

Ticker/Symbol

Sector

Weight %

Tennessee Energy Acquisition Corp.

88044TAL3

Gas

1.3

Kentucky Public Energy Authority

74440DEC4

SE_PREPAID_UTILITY

1.1

Patriots Energy Group Financing Agency

70342PAN4

Gas

1.0

Main Street Natural Gas, Inc.

56035DGB2

Gas

0.9

Main Street Natural Gas, Inc.

56035DGT3

Gas

0.9

Indiana Finance Authority

45470CAG4

Public Power

0.8

City of Chicago IL

167486ZY8

Local General Obligation

0.8

Chicago O'Hare International Airport

167593A44

Airport

0.8

Texas Municipal Gas Acquisition & Supply Corp. IV

88256PAT7

Gas

0.7

Metropolitan Transportation Authority

59261AJR9

Other Transportation

0.7

Download Holdings

Exposure Breakdown

(As of 31 Mar 2024)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

Gas

12.0

—

Hospital

10.5

5.8

Airport

7.6

3.7

Cash & Cash Equivalents

6.6

—

Appropriation

6.5

3.8

Local General Obligation

6.2

9.0

Dedicated Tax

6.2

15.6

School District General Obligation

5.3

—

State General Obligation

4.7

19.1

Single Family Mortgage

4.7

0.2

Industrial Development/Pollution Control

4.1

—

Sector Allocation

Fund (%)

Gas

12.0

Hospital

10.5

Airport

7.6

Cash & Cash Equivalents

6.6

Appropriation

6.5

Local General Obligation

6.2

Dedicated Tax

6.2

School District General Obligation

5.3

State General Obligation

4.7

Single Family Mortgage

4.7

Industrial Development/Pollution Control

4.1

Top 10 U.S. States

Fund (%)

Benchmark (%)

Portfolio

Benchmark

10%

15%

20%

25%

30%

Illinois

14.5

5.6

Texas

10.1

6.0

New York

7.3

20.6

Cash

6.6

—

Pennsylvania

5.8

3.6

Florida

5.6

2.2

Georgia

4.7

3.6

California

4.0

18.9

New Jersey

3.9

4.5

Alabama

3.7

2.7

Indiana

3.5

0.7

Top 10 U.S. States

Fund (%)

Illinois

14.5

Texas

10.1

New York

7.3

Cash

6.6

Pennsylvania

5.8

Florida

5.6

Georgia

4.7

California

4.0

New Jersey

3.9

Alabama

3.7

Indiana

3.5

Credit Quality

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

AAA

5.3

13.0

41.6

57.0

37.7

24.9

BBB

6.7

5.2

Not Rated

2.1

—

Cash & Cash Equivalents

6.6

—

Credit Quality

Fund (%)

AAA

5.3

41.6

37.7

BBB

6.7

Not Rated

2.1

Cash & Cash Equivalents

6.6

Maturity

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Year 1-2

9.3

—

Year 3-4

5.8

12.0

Year 5-6

7.9

21.5

Year 7-8

15.8

19.0

Year 9-10

7.8

16.2

Year 11-12

6.8

14.0

Year 13-14

9.2

12.0

Year 15-16

5.6

5.0

Year 17+

25.4

—

Cash

6.6

—

Maturity

Fund (%)

Year 1-2

9.3

Year 3-4

5.8

Year 5-6

7.9

Year 7-8

15.8

Year 9-10

7.8

Year 11-12

6.8

Year 13-14

9.2

Year 15-16

5.6

Year 17+

25.4

Cash

6.6

Holdings within the Geography breakdown are classified by country of risk as determined by MSCI and Bloomberg.

Cash includes cash and cash equivalents. Weights are percentages of total portfolio unless otherwise noted.

Percentages may not add up to 100 due to rounding.

Portfolio Managers

David Ashley, CFA

Portfolio Manager and Managing Director

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…

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John Bonnell, CFA

Portfolio Manager and Managing Director

John Bonnell, CFA, is portfolio manager and managing director for Thornburg Investment Management. He joined Thornburg’s municipal team in 2021. John has over 30 years of municipal bond investing experience. He spent 25 years of his career at USAA where he was most recently a senior portfolio manager and, in 2010, took on responsibility for co-leading municipal bond strategies. Earlier…

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Eve Lando, JD

Portfolio Manager and Managing Director

Eve Lando is portfolio manager for Thornburg Investment Management. She joined Thornburg's municipal team in 2019 as associate portfolio manager and was named portfolio manager in 2020. Eve holds a BA in urban studies from Columbia University and a JD from Brooklyn Law School, with a concentration in business law studies. She has extensive experience in municipal bond research and…

Learn More

Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Report

Semi-annual report

Prospectus

Statement of Additional Information (SAI)

Important Information

This communication is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

Investments carry risks, including possible loss of principal. Portfolios investing in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The value of bonds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. Unlike bonds, bond funds have ongoing fees and expenses. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

A bond credit rating assesses the financial ability of a debt issuer to make timely payments of principal and interest. Ratings of AAA (the highest), AA, A, and BBB are investment-grade quality. Ratings of BB, B, CCC, CC, C and D (the lowest) are considered below investment grade, speculative grade, or junk bonds.

Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment losses.

Income earned from municipal bonds is exempt from regular federal and in some cases, state and local income tax. Income may be subject to the alternative minimum tax (AMT).

Neither the payment of, or increase in, dividends is guaranteed.

The laddering strategy does not assure or guarantee better performance than a non-laddered portfolio and cannot eliminate the risk of investment losses.

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.

There is no guarantee that the Fund will meet its investment objectives.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities LLC.

Thornburg Investment Management, Inc. mutual funds are sold through investment professionals including investment advisors, brokerage firms, bank trust departments, trust companies and certain other financial intermediaries. Thornburg Securities LLC (TSL) does not act as broker of record for investors.

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Thornburg Intermediate Municipal Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

David Ashley, CFA

John Bonnell, CFA

Eve Lando, JD

Literature

Important Information

More Insights

Observations: Value Vs. Growth, Does Another Fed Hike Matter?

Observations: Recession and Reversion to the Mean

Stability + Reserves + Yields = Opportunities in Munis

It’s Not All About the Fed, Munis Are Swayed by Weak Issuance

Municipal Revenues Hold Up Well, But Watch for Slower Growth

Managing Legacy Wealth Part 1 The Wealth Holders

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Thornburg Intermediate Municipal Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

David Ashley, CFA

John Bonnell, CFA

Eve Lando, JD

Literature

Important Information

More Insights

Observations: Value Vs. Growth, Does Another Fed Hike Matter?

Observations: Recession and Reversion to the Mean

Stability + Reserves + Yields = Opportunities in Munis

It’s Not All About the Fed, Munis Are Swayed by Weak Issuance

Municipal Revenues Hold Up Well, But Watch for Slower Growth

Managing Legacy Wealth Part 1 The Wealth Holders