Thornburg Low Duration Municipal Fund
| Nasdaq: TLMAX
The Fund is an actively managed, laddered portfolio of municipal bonds from throughout the U.S. The Fund seeks to reduce changes in its share value compared to longer duration fixed income portfolios by maintaining a portfolio of investments with a dollar-weighted average duration of normally no more than three years. The Fund also attempts to reduce changes in its share value through credit analysis, selection, and diversification.
The Fund seeks current income exempt from federal income taxes, consistent with preservation of capital.
There is no guarantee that the Fund will meet its investment objectives. Income is generally exempt from federal income tax, but may be subject to state or local taxes and the federal Alternative Minimum Tax.