Thrivent Multisector Bond Class S IIINX Strategy

The investment seeks a high level of current income, consistent with capital preservation. The fund primarily invests in a broad range of debt securities. The debt securities in which it invests may be of any maturity or credit quality, including high-yield, high-risk instruments that are rated below investment grade, such as bonds, notes, debentures and other debt obligations. Below investment-grade securities are commonly known as “junk bonds,” which at the time of purchase are rated below BBB- by S&P or Baa3 by Moody's or are unrated but considered to be of comparable quality by the Adviser.