Address And Details

2300 North Ridgetop Road , Santa Fe, NM 87506
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

The primary investment goal of Intermediate Municipal Fund is to obtain as high a level of current income exempt from federal individual income tax as is consistent, in the view of the Fund s investment advisor, with preservation of capital. The secondary goal of the Fund is to reduce expected changes in its share price compared to long-term bond portfolios. The Fund pursues its primary goal by investing 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. Thornburg Investment Management, Inc. ( Thornburg ) actively manages the Fund s portfolio. Investment decisions are based upon outlooks for interest rates and securities markets, the supply of municipal debt obligations, and analysis of specific securities. The Fund invests in obligations and participations in obligations which are rated by a nationally recognized statistical rating organization at the time of purchase as investment grade or, if unrated, are issued by obligors which Thornburg determines have comparable investment grade obligations outstanding or which are deemed by Thornburg to be comparable to obligors with outstanding investment grade obligations. Participations are undivided interests in pools of securities where the underlying credit support passes through to the participants. The Fund s portfolio is laddered by investing in obligations of different maturities so that some obligations mature during each of the coming years.

Net Asset Value

as of 5:45 PM ET 10/20/2021


  • 1 Week
  • -0.14%
  • 1 Month
  • -0.97%
  • 3 Months
  • -1.58%
  • 1 Yr Return
  • +0.07%
  • 5 Yr Return
  • -0.28%

Equity Sector Breakdown

ConsumerDurables n/a
Energy n/a
Finance n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Bonds 98.36%
Other 1.64%
Stocks 0.00%
Cash 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 327.92 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.67 -0.78 -0.72
Beta 0.85 0.83 0.83
R Squared 0.97 0.98 0.97
Std Deviation 3.44 3.30 3.04
Sharpe Ratio 0.81 0.32 n/a

Purchase Information

as of 5:48 PM ET 10/14/2021
Minimum Initial $5000
Minimum Additional $100
Minimum Initial IRA $2000


Timeframe Average Annual Current Performance Monthly As Of 09/30/2021 Average Annual Current Performance Quarterly As Of 09/30/2021 Avg Annual Current Performance Monthly As Of 09/30/2021 Avg Annual Current Performance Quarterly As Of 09/30/2021
1 Year
  • +2.16%
  • +2.16%
+2.16% +2.16%
3 Year
  • +3.75%
  • +3.75%
+3.75% +3.75%
10 Year
  • +2.92%
  • +2.92%
+2.92% +2.92%
Life Of Fund
  • +4.47%
  • +4.47%
+4.47% +4.47%

Top 10 Holdings

Symbol Company Name % Of Assets


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