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Morningstar

Thornburg CA Limited-Term Muni Instl LTCIX

Morningstar Medalist Rating
Medalist Rating as of | See Thornburg Investment Hub
  • NAV / 1-Day Return 12.57  /  0.06 %
  • Total Assets 275.4 Mil
  • Adj. Expense Ratio
    0.490%
  • Expense Ratio 0.490%
  • Distribution Fee Level Above Average
  • Share Class Type Institutional
  • Category Muni Single State Short
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 2,500,000
  • Status Open
  • TTM Yield 2.56%
  • Effective Duration 2.59 years

USD | NAV as of Oct 02, 2023 | 1-Day Return as of Oct 02, 2023, 10:16 PM GMT+0

Morningstar’s Analysis LTCIX

Will LTCIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable LTCIX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the LTCIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of LTCIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Weakness in Thornburg CA Limited-Term Muni Instl's People and Process Pillar ratings limits this strategy to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a sizable cost advantage over competitors, priced within the second-lowest fee quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings LTCIX

More LTCIX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 197
  • Other Holdings 24
  • % Assets in Top 10 Holdings 17.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

SANTA CLARA CNTY CALIF FING AUTH LEASE REV 5%

2.49
6,970,491
municipal

BAY AREA TOLL AUTH CALIF TOLL BRDG REV 2.95%

1.96
5,495,924
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

1.87
5,225,000
municipal

CALIFORNIA STATEWIDE CMNTYS DEV AUTH POLLUTION CTL REV 2.625%

1.74
4,880,643
municipal

POWAY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION 5%

1.72
4,821,030
municipal

LOS ANGELES CALIF 5%

1.71
4,771,440
municipal

LOS ANGELES CALIF UNI SCH DIST 5%

1.67
4,671,926
municipal

CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV 4.1%

1.61
4,500,000
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 4%

1.57
4,399,888
municipal

LOS ANGELES CALIF DEPT ARPTS REV 5%

1.53
4,285,188
municipal