TNYIX

About TNYIX

Thornburg New York Intermediate Municipal Fund Class I is an actively managed municipal bond mutual fund focused on delivering tax‑exempt income while prioritizing capital preservation. The strategy invests primarily in investment‑grade obligations issued by New York State, its agencies, and local governments, pursuing an intermediate interest‑rate profile to temper price volatility relative to long‑term bond portfolios. The portfolio typically employs a laddered maturity structure within the intermediate range, aiming for diversified exposure across New York revenue and general obligation issuers and maintaining high overall credit quality. Income is generally exempt from federal, New York State, and New York City individual income taxes, with a limited portion potentially subject to the federal alternative minimum tax depending on holdings. As part of the Muni New York Intermediate category, the fund targets duration and maturity characteristics consistent with 4–6 year durations and 5–12 year average maturities, aligning with investors who seek state‑specific tax efficiency and risk control. The fund’s role in the market is to provide a core, high‑quality municipal allocation for New York taxpayers, managed against broad municipal benchmarks and emphasizing steady tax‑advantaged income over time.