TLMAX – Thornburg Short Duration Municipal A Investment Strategy | Morningstar

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Strategy

The investment seeks current income exempt from federal income tax, consistent with preservation of capital. The fund pursues its primary goal by investing principally in a laddered maturity portfolio of municipal obligations issued by states and state agencies, local governments and their agencies and by United States territories and possessions. It normally invests at least 80% of its net assets in municipal obligations, the income from which is exempt from the regular federal income tax.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
TLMIX	Thornburg Short Duration Municipal Fund Class I	Institutional	Open			Dec 30, 2013	$90.28M	0.500%	High	$3M	−$23.34M
TLMAX	Thornburg Short Duration Municipal Fund Class A	Front Load	Open			Dec 30, 2013	$8.15M	0.700%	Above Average	$1,000	$2.66M

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