|
Overall Morningstar
Rating™ |
| What is this? |
 |
 |
| As of 2009-10-31 |
|
Out of
Muni California Interm/Short Funds |
|
| Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance. |
|
|
|
Morningstar®
Style Box™ |
| What is this? |
|
 |
|
Avg Duration |
|
|
3.53 Yrs
|
|
|
|
Avg Credit Quality |
|
|
A |
|
| As of
2009-09-30 |
|
|
| Day Change |
| $ 0.00 |
|
|
| NAV (2009-11-20) |
| $ 13.03 |
|
|
| YTD Return % (2009-11-20) |
| 8.37% |
|
|
| Total Assets ($ mil) |
| 150 |
|
| Growth of $10,000 |
 |
Fund: |
Thornburg CA Limited-Term Muni A LW |
| (from
1999-01-01
to 2009-10-31) |
 |
Category: |
Muni California Interm/Short |
|
 |
Index: |
Barcap Municipal! |
| Total Annualized Returns % |
1yr, 3yr and 5yr Returns as of 2009-11-20 |
| Inception date: 1987-02-20 |
10yr and Inception Returns as of 2009-10-31 |
|
YTD Returns as of 2009-11-20 |
|
|
YTD |
1 Year |
3 Year |
5 Year |
10 Year |
Since Inception |
| Fund |
8.37 |
8.35 |
4.22 |
3.39 |
3.62 |
4.76 |
| +/- Category |
-1.21 |
-0.86 |
1.47 |
0.54 |
-0.57 |
--- |
| +/- Barcap Municipal! |
--- |
--- |
--- |
--- |
--- |
--- |
|
|
| Standardized Annual Returns % more on standardized returns |
| Quarter-End (as of
2009-09-30) |
8.37 |
8.45 |
4.29 |
3.38 |
3.69 |
4.83 |
| Month-End (as of 2009-10-31) |
7.33 |
8.56 |
3.86 |
3.13 |
3.62 |
4.76 |
|
|
| After Tax Returns % (as of
2009-09-30
)
|
| On Distribution |
--- |
8.56 |
3.86 |
3.13 |
3.62 |
--- |
| On Distribution & Sale of Shares |
--- |
6.81 |
3.79 |
3.14 |
3.59 |
--- |
|
|
| Morningstar Rating |
--- |
--- |
 |
 |
 |
--- |
|
| # of compared funds covered (3 yrs : out of 77 funds), (5 yrs : out of 69 funds), (10 yrs : out of 37 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is
none,
the maximum deferred sales fee is
none,
and the maximum redemption sales fee is
none. |
|
| The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein. |
|
|
|
|
| Sector Breakdown % |
|
| General Obligations |
13.81 |
| Advance Refunded |
1.39 |
| State Appropriated Tobacco |
---
|
| Non-state Appropriated Tobacco |
---
|
| Education |
10.11 |
| Health |
4.39 |
| Housing |
6.13 |
| Industrial |
9.36 |
| Transportation |
2.63 |
| Utilities |
1.31 |
| Water/Sewer |
6.48 |
| Misc. Revenue |
44.38 |
|
| Bond Quality |
% of Bonds |
| AAA |
16.0 |
| AA |
28.0 |
| A |
43.6 |
| BBB |
7.1 |
| BB |
1.4 |
| B |
0.0 |
| Below B |
0.0 |
| Not Rated |
3.9 |
|
|
|
|
|
| |
|
|
| Asset Allocation |
|
 |
|
| % of Net Assets |
 |
Cash |
6.1 |
 |
Stocks |
0.0 |
|
Bonds |
93.9 |
 |
Other |
0.0 |
|
|
|
Foreign Stocks |
0.0 |
|
(as a % of Assets) |
|
|
| Data through 2009-09-30 |
Data through 2009-09-30 |
 |
| Holding Status |
|
| Total Number of Stock Holdings |
|
|
Turnover % |
35 |
| Total Number of Bond Holdings |
99 |
|
30 Day SEC Yield % |
2.58 |
| % of Assets in Top 10 Holdings |
23.14 |
|
ending as of
2009-09-30 |
|
|
|
|
View Data Definitions |
| Top 10 Holdings |
Maturity
Date |
Amount
$000 |
Value
$000 |
% of Net
Assets |
|
|
|
|
|
|
 |
Irvine Ranch Calif Wtr Dist |
2041-10-01 |
6,000 |
6,000 |
4.21 |
|
San Bernardino Cnty Calif Mult Mul 4.75% |
2031-12-15 |
3,100 |
3,308 |
2.32 |
|
San Joaquin Calif Delta Cmnty Go Bds |
2019-08-01 |
5,000 |
3,281 |
2.30 |
|
Calexico Calif Uni Sch Dist 6.75% |
2017-09-01 |
3,060 |
3,266 |
2.29 |
 |
IRVINE RANCH CALIF WTR DIST GO BDS |
2035-07-01 |
3,250 |
3,250 |
2.28 |
|
 |
|
Los Angeles Calif Dept Wtr & P Rev 5.25% |
2011-07-01 |
3,000 |
3,232 |
2.27 |
|
California Pollutn Ctl Fing Au Poll 5.9% |
2014-06-01 |
2,500 |
2,810 |
1.97 |
|
Los Angeles Calif Uni Sch Dist 5.5% |
2012-07-01 |
2,500 |
2,776 |
1.95 |
|
Sacramento Calif City Fing Aut Tax Alloc |
2014-11-01 |
3,310 |
2,630 |
1.85 |
|
Bay Area Toll Auth 5% |
2016-04-01 |
2,075 |
2,422 |
1.70 |
|
|
 |
Data through 2009-09-30 |
|
|
|
| Fund Inception: 1987-02-20 |
|
Portfolio Manager (Start Date) |
|
|
|
|
|
George Strickland (1987-02-20) |
|
|
|
George Strickland
Co-Portfolio Manager and Managing Director
BA, Davidson College
MBA, University of Maryland
George Strickland is a managing director and co-portfolio manager of the
Thornburg Municipal Bond Strategies and Thornburg Strategic Income Fund.
He is responsible for overseeing the research, trading, and strategic positioning
of municipal bond portfolios. Thornburg Municipal Bond Strategies have
won a number of awards from independent rating services. They include two
national funds, three single state funds, and numerous separate accounts.
George joined Thornburg Investment Management as an associate portfolio
manager in 1991, and was elected managing director in 1996. Prior to joining
Thornburg, George began his financial career with the Calvert Group
and has his BA in Economics from Davidson College and his MBA in Finance
from the University of Maryland |
|
|
|
|
|
Josh Gonze (2007-02-01) |
|
|
|
Josh Gonze
Co-Portfolio Manager and Managing Director
BA, Oberlin College
MBA, New York University
Josh Gonze is a managing director and co- portfolio manager for Thornburg
Municipal Bond Strategies. He is responsible for credit analysis for new bond
transactions, monitoring credit quality within the portfolios, and evaluation of
sector-wide credit trends. His scope of activity includes assessment of industry,
business, and financial risk, including calculation of financial and operating
ratios. He also assists in trading bonds for both the mutual funds and private
accounts.
Josh joined Thornburg Investment Management in 1999, and was named
managing director in 2003. He was promoted to co-portfolio manager in 2007.
Prior to joining Thornburg, Josh served as an associate director at Standard
and Poor’s, where he set credit ratings for corporate bonds. Prior to Standard
and Poor’s, Josh worked in corporate banking at the Toronto-Dominion Bank
in New York. Josh holds a BA in economics from Oberlin College and an MBA
in finance from the New York University School of Business. |
|
|
|
|
|
Christopher Ihlefeld (2007-02-01) |
|
|
|
Christopher Ihlefeld
Co-Portfolio Manager and Managing Director
BA, Rollins College
MBA, College of Santa Fe
Christopher Ihlefeld is a managing director and co-portfolio manager of
Thornburg Municipal Bond Strategies. Christopher specializes in the trading,
monitoring, and structuring of Municipal Bond Strategies.
Christopher joined Thornburg Investment Management as a dealer services
representative in 1996. Prior to joining the portfolio management team he
served at Thornburg as an information technology specialist and program
analyst. In 2006, Christopher was elected managing director and 2007, was
promoted to co-portfolio manager. Christopher holds a BA in Liberal Arts
from Rollins College and an MBA in Finance from the College of Santa Fe. |
|
|
|
|
Sales Charge %
(taken from prospectus dated 2009-07-15) |
| Front: |
None |
| Deferred: |
None |
|
| Expense Ratio % |
0.98 |
based on net assets
(taken from annual report dated 2008-09-30)
|
|
| Correspondence Information |
2300 North Ridgetop Road
Santa Fe,
NM
87506-8361
|
|
|
|
| Telephone: |
| 800-847-0200 |
| 505-984-0200 |
|
|
