Thornburg International Value Fund (TGVAX)

Thornburg International Value Fund (TGVAX) is a foreign large growth mutual fund. It invests in non-U.S. companies.

Thornburg International Value A (TGVAX)

The investment aim of Thornburg International Value fund is to seek long-term capital appreciation and current income. The mutual fund utilizes its assets to invest in foreign stocks or depository receipts of foreign securities. It invests in promising companies, and may invest in stocks that reflect unfavorable market perceptions of the company or industry fundamentals. The stock mutual fund typically invests in publicly traded large and middle capitalization companies, but it may invest in any company size.

Fund Details

• Fund Inception Date: May 28, 1998
• Ticker Symbol: TGVAX
• CUSIP: 885-215-657
• Beta (3yr): 0.89
• Rank in category (YTD): 80%
• Category: Foreign Large Growth
• Yield: 1.16%
• Capital Gains: 0%
• Expense Ratio: 1.25%
• Net Assets: $ 26.48 billion
• Number of Years Up: 8 years
• Number of Years Down: 5 years
• Annual Turnover Rate: 20.78%

Updated on 11/28/2012

Morningstar has rated this international stock fund with 3-stars and Gold rating. It is currently managed by Lei V. Wang since February 2006. The 12-month dividend yield is 1.16%. The most recent dividend was distributed on June 25, 2012 ($0.15). It has total net assets of $26.48 billion. The annual holdings turnover as of September 11, 2012 is 20.78%. The fund’s expense ratio is 1.25%. It also has management fee of 0.25% and front-end sales load fee of 4.50%.

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This Thornburg International Value fund has 5-year annualized return of -3.02%. Since its inception, the fund has recorded in 8 years of positive return and 5 years of negative return. The best 1-year total return was achieved in 1999 with 63.40%. The worst 1-year total return was occurred in 2008 with -41.89%. The YTD return is 6.42%. MSCI EAFE Index and MSCI AC World ex US are the fund’s benchmarks.

You can purchase this mutual fund with $5,000 initial investment for brokerage account. The fund can be purchased from 114 brokerages, such as E Trade Financial, Merrill Lynch, Scottrade Load, JP Morgan, Vanguard, Edward Jones, Ameriprise Brokerage, Raymond James, etc. The other classes are:

• Class B: THGBX (CUSIP: 885-215-616)
• Class C: THGCX (CUSIP: 885-215-640)
• Class I: TGVIX (CUSIP: 885-215-566)

The top 10 positions of this international equity fund as of July 2012 are Novo Nordisk AS (3.1%), British American Tobacco plc (2.8%), Nestle SA (2.5%), Reckitt Benckiser plc (2.5%), Adidas AG (2.5%), Sclumberger Ltd (2.4%), Standard Chartered plc (2.3%), LVMH Moet Hennessy Louis Vuitton SA (2.3%), CNOOC Ltd (2.3%) and Toyota Motor Corp (2.2%). The top 5 industry sectors are Banks (9.7%); Energy (8.3%); Pharma & Biotech (7.1%); Autos & Componenets (6.9%); and Food, Beverage and Tobacco (6.6%).

Accodring to the fund prospectus, the principal investment risks are Management risks, market and economic risk, risks affecting specific issuers, foreign investment risk, smaller company risk, credit risk, interest rate risk, liquidity risk, etc.

Disclosure: No Position