Called the Thornburg Limited Term Income fund, it is the Santa Fe-head quartered manager’s sixth Ucits fund, domiciled in Ireland. It will only be available to offshore investors.
Its first Ucits product was launched back in 2012. A year later, the privately owned global investment firm opened an office in London.
As at 31 March 2017, the firm currently manages $48bn in assets across mutual funds and Ucits funds for non-US investors, as well as institutional accounts and separate accounts for high-net-worth investors.
Like the investment manager’s US version of the fund, the portfolio is comprised of “laddered” short and intermediate investment grade obligations with an average maturity of less than five years.
The fund will be co-managed by Thornburg’s president and CEO Jason Brady, as well as portfolio managers and managing directors Lon Erickson and Jeff Klingelhofer.
The new fund will have six different share classes, with accumulation and distribution of A,I and C share classes.