Thornburg Investment Income Builder Fund Class C
TIBCX
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- Thornburg Investment Income Builder Fund Class C (TIBCX) is an open-end mutual fund managed by Thornburg Investment Management, Inc., a privately held global investment firm that seeks primarily to provide a high level of current income exceeding the average yield on U.S. stocks and, secondarily, long-term capital appreciation. The Fund normally invests at least 80% of its assets in income-producing securities, including at least 50% in common stocks, as well as fixed income securities such as corporate bonds, mortgage-backed securities, asset-backed securities, U.S. government and agency securities, and money market instruments; it maintains a globally diversified portfolio with exposure to equities, fixed income, and multi-asset allocations across large-cap value stocks and other income-oriented instruments. Available to U.S. investors through broker-dealers and platforms, the Fund targets institutions, financial advisors, retirement plans, and individual investors seeking consistent income with growth potential in the global moderately aggressive allocation category. Launched on December 24, 2002, with headquarters in Santa Fe, New Mexico, the Fund operates under Thornburg Investment Management, founded in 1982, which oversees approximately $45 billion in client assets as of December 31, 2024, across mutual funds, closed-end funds, institutional separate accounts, and UCITS funds for non-U.S. investors. The Class C share class, with a net expense ratio of 1.93%, a 1.00% deferred load, and a minimum initial investment of $5,000, distributes income monthly and emphasizes dividend growth combined with active management to support short-term funding needs and long-term principal preservation. Portfolio management is led by Brian McMahon (since inception), Matt Burdett (since February 1, 2019), and Christian Hoffmann (since September 1, 2023), focusing on high-conviction holdings with characteristics including a weighted average market cap, forward P/E, effective duration, and active share versus its Investment Income Builder Blended Index benchmark. In recent developments, the Fund's prospectus was updated as of February 1, 2025, reflecting ongoing fee structures and investment policies amid stable operations; its net expense ratio remains subsidized with gross fees noted in disclosures as of the same date. Thornburg Investment Management reported $45 billion in client assets as of December 31, 2024, indicating steady assets under management growth from prior years, while the Fund maintained its five-star Morningstar rating for Class I shares (with Class C at three stars for the 10-year period) based on risk-adjusted returns as of late 2025. No major acquisitions, partnerships, or strategic shifts specific to TIBCX were announced in 2024 or 2025; the firm continues to emphasize active, high-conviction strategies in income and global equity without noted reorganizations.