Morningstar® Investment Profile™   Morningstar®
Disclosure
  Format
for Print
Thornburg International Value R5  TIVRX
Release date as of 2019-10-31. Data on page is subject to change.
Snapshot Total Returns Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2019-10-31
Out of 620
Foreign Large Blend Funds
Morningstar®
Style Box™
What is this?
As of 2019-09-30
Total Fund Assets ($ Mil)
3,148.68
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks long-term capital appreciation; current income is the secondary objective.
The fund invests primarily in foreign equity securities or depository receipts of foreign equity securities. The fund may invest in developing countries, but under normal conditions those investments are expected to comprise a significantly smaller proportion of the fund than investments in developed countries.
  Morningstar Category: Foreign Large Blend
Foreign large-blend portfolios invest in a variety of big international stocks. Most of these portfolios divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These portfolios primarily invest in stocks that have market caps in the top 70% of each economically integrated market (such as Europe or Asia ex-Japan). The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios typically will have less than 20% of assets invested in U.S. stocks. 
  Performance
Growth of $10,000
(from 2009-01-01 to 2019-10-31)
Investment: Thornburg International Value R5
Benchmark 1: MSCI ACWI Ex USA NR USD
Benchmark 2: MSCI ACWI Ex USA NR USD
Category: Foreign Large Blend
This graph presents historical performance for the investment as well as an index and/or peer group. If the investment, index and/or peer group have performed similarly, the line representing the fund will overlay the index and/or peer group. Therefore, the line(s) representing the index and/or peer group history may be hidden.
Total Annualized Returns %
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Investment 22.76 16.31 7.30 4.71 5.26 6.12
MSCI ACWI Ex USA NR USD 15.45 11.27 8.07 3.82 4.94 ---
MSCI ACWI Ex USA NR USD 15.45 11.27 8.07 3.82 4.94 ---
Category 15.89 10.26 7.48 3.74 5.13 3.45
Morningstar Rating --- --- ---
# of compared Foreign Large Blend funds covered (3 yrs : out of 620 funds) (5 yrs : out of 489 funds) (10 yrs : out of 365 funds)
Ratings reflect risk-adjusted performance and are derived from a weighted average of the performance figures associated with its three, five and ten-year (if applicable) time periods.
Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.
Fees and Expenses
Total Annual Operating Expense 1.17%
Prospectus Net Expense Ratio 0.99%
Maximum Sales Charge ---
The total annual operating expense shown is before management fee waivers or expense caps. For more information on waivers/reimbursements, please see the prospectus. The total annual operating expense is also referred to as the prospectus gross expense ratio.
Waiver Data
Type Date %
ExpenseRatio Contractual 2020-02-01 0.18
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0.0
Bullet Non-U.S. Stocks Non-U.S. Stocks 89.5
Bullet Bonds Bonds 0.0
Bullet Cash Cash 10.5
Bullet Other Other 0.0
Asset Allocation Rescaled Graph
Data through 2019-09-30
Morningstar Equity Sectors
% of Stocks
Cyclical 28.41
Basic Materials 3.61
Consumer Cyclical 10.47
Financial Services 14.33
Real Estate 0.00
Sensitive 49.41
Communication Services 4.05
Energy 3.69
Industrials 18.31
Technology 23.36
Defensive 22.17
Consumer Defensive 13.48
Healthcare 4.94
Utilities 3.75
Data through 2019-09-30
Morningstar World Regions
% Fund
Americas 5.8
North America 5.8
Latin America 0.0
Greater Europe 58.4
United Kingdom 9.8
Europe Developed 48.5
Europe Emerging 0.0
Africa/Middle East 0.0
Greater Asia 35.8
Japan 15.1
Australasia 2.3
Asia Developed 3.2
Asia Emerging 15.2
Data through 2019-09-30
Holding Status
Total Number of Stock Holdings 55
Total Number of Bond Holdings 0
% of Net Assets in Top 10 Holdings 37.31
Turnover % (as of 2018-09-30) 44.41
30 Day SEC Yield % ---
Top Holdings
Sector Country % of Net
Assets
Thornburg Capital Management --- United States 10.53
Keyence Corp Japan 3.09
Safran SA France 3.06
Ferrovial SA Spain 3.02
ING Groep NV Netherlands 3.02
Danone SA France 2.98
Vinci SA France 2.96
Nintendo Co Ltd Japan 2.90
KOSE Corp Japan 2.89
Vodafone Group PLC United Kingdom 2.86
Data through 2019-09-30
  Principal Risks   
Credit and Counterparty, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, Active Management, Issuer, Interest Rate, Market/Market Volatility, Restricted/Illiquid Securities, China Region, Small Cap, Mid-Cap
Show Risk Definitions
  Other Information
Inception Date: 2005-02-01
Portfolio Manager(s)
Lei Wang   (2006-02-01)
Lei Wang, CFA, a managing director of Thornburg Investment Management. Mr. Wang joined Thornburg Investment Management in 2004 as an associate portfolio manager and was named a managing director in 2005. His responsibilities also include portfolio management, research, and analysis of companies for investment by other Thornburg equity Funds.
Di Zhou   (2015-12-08)
Di Zhou, CFA, FRM Portfolio Manager and Managing Director Di Zhou is portfolio manager for Thornburg Investment Management. Di joined the firm in 2010 as an equity research analyst, was promoted to associate portfolio manager in 2014, and was named portfolio manager and managing director in 2015. Di holds a BA in business administration from the Marshall School of Business at the University of Southern California and an MBA from the University of Chicago Booth School of Business. Prior to graduate school, she was employed at Wilshire Associates.
Investment Advisor(s)
Thornburg Investment Management Inc
Issuer
Thornburg
Show Data Definitions

© Copyright 2019 Morningstar, Inc.
All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or any losses arising from any use of information. Past performance is no guarantee of future performance.
Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.