THNMX

About THNMX

Thornburg New Mexico Intermediate Municipal Fund Class A is an actively managed municipal bond mutual fund focused on delivering tax-exempt income for New Mexico residents while emphasizing capital preservation. The portfolio primarily invests in investment-grade debt issued by New Mexico state and local entities that finance public projects such as infrastructure, education, and essential services, with income generally exempt from federal and New Mexico state individual income taxes. The strategy targets an intermediate interest-rate profile, aligning with a category that typically maintains durations of roughly four to six years, balancing income generation with moderate interest-rate risk. Management employs fundamental credit research and diversification across sectors within the state’s municipal market to manage credit quality and liquidity considerations, while benchmarking against broad municipal indexes to evaluate results. Within the municipal bond landscape, the fund serves investors seeking state-specific tax efficiency and a stable income stream from high-quality issuers, positioned as a core, tax-aware allocation in a fixed income portfolio centered on New Mexico municipal securities.