Thornburg Investment Income Builder Fund Class R6 TIBOX

Thornburg Investment Income Builder's evolving team continues its legacy of pursuing income trades. The fund's equity-heavy design has fueled strong results, but at the cost of potentially sharper swings. This fund's team has seen key changes in recent years. Ben Kirby's mid-2024 departure elevated Matt Burdett to lead its equity sleeve. This followed fixed-income manager Jason Brady's 2023 departure, leaving Christian Hoffmann to oversee the bond sleeve. Veteran portfolio manager Brian McMahon continues to provide oversight and brings more than four decades of experience at Thornburg. The team now operates with a flatter, consensus-driven structure, which reflects an attempt at a cultural reset under CEO Mark Zinkula. Since 2020, more than a dozen equity analysts have left, replaced by a wave of new hires, underscoring how much rebuilding continues on the research bench.