Thornburg New Mexico Intermediate Municipal Fund is an actively managed municipal bond mutual fund focused on generating tax-exempt income for New Mexico residents while emphasizing capital preservation. The portfolio primarily invests in investment-grade obligations issued by the State of New Mexico, its agencies, and local municipalities, typically within an intermediate maturity range to balance income and interest-rate risk. The strategy employs a laddered structure and security selection aimed at high credit quality and reduced volatility relative to longer-duration municipal portfolios. The fund distributes income monthly and is designed to provide income that is exempt from federal and New Mexico state individual income taxes, with limited exposure subject to the federal Alternative Minimum Tax. It sits within the muni single-state intermediate category and tracks its results against broad municipal benchmarks to assess risk and return. With a long operating history and a defined regional mandate, Thornburg New Mexico Intermediate Municipal Fund serves investors seeking state-specific tax efficiency and a conservative fixed income allocation anchored in New Mexico’s public finance market.
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