THNIX

About THNIX

Thornburg New Mexico Intermediate Municipal Fund Class I is an actively managed municipal bond mutual fund focused on providing tax‑exempt income while seeking capital preservation. The portfolio invests primarily in investment‑grade municipal securities issued by New Mexico state and local entities, financing public projects such as infrastructure, education, and essential services. According to the sponsor, the strategy emphasizes high credit quality and an intermediate interest‑rate profile, aligning with a benchmark of broad U.S. municipal bonds and targeting a balance between income stability and interest‑rate sensitivity. Morningstar categorizes the vehicle within muni single‑state intermediate funds, which typically maintain durations of roughly four to six years and concentrate holdings in one state to enhance state tax benefits for residents. The fund maintains a diversified lineup of dozens of holdings and a modest asset base, reflecting its targeted, state‑specific mandate. Class I shares represent an institutional pricing tier of the same strategy, sharing the investment objective and research platform while differing by fee structure from other share classes offered under the fund family.