Thornburg Intermediate Municipal Fund Class C is a municipal bond mutual fund that primarily seeks to provide investors with a high level of tax-exempt income while emphasizing capital preservation and reduced share price volatility. The fund invests in a diversified portfolio of intermediate-term municipal securities issued by state and local governments across the United States, which support public infrastructure and community projects. Income generated by the fund is generally free from federal income taxes, making it attractive to investors seeking tax-efficient income solutions. This fund is actively managed, balancing considerations of credit quality, interest rate sensitivity, and duration within the intermediate-term range, typically targeting bonds with maturities of around five to twelve years. The portfolio is broadly diversified across various issuers and sectors to help mitigate risk, and its holdings are almost entirely invested in municipal bonds, with a small allocation to cash equivalents. Positioned within the Muni National Intermediate category, Thornburg Intermediate Municipal Fund Class C serves investors looking for consistent income exempt from federal taxes and a lower risk alternative to longer-term or lower-quality bond funds. Its performance is benchmarked against indexes such as the ICE BofA 3-15 Year U.S. Municipal Securities Index.
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