TNYIX: Thornburg NY Intermediate Municipal I

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TNYIX Thornburg NY Intermediate Municipal I


Profile

TNYIX - Profile

Vitals

  • YTD Return -2.2%
  • 3 Yr Annualized Return -0.9%
  • 5 Yr Annualized Return -1.0%
  • Net Assets $48.5 M
  • Holdings in Top 10 30.5%

52 WEEK LOW AND HIGH

$12.64
$11.95
$13.26

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.88%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.75%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -2.2%
  • 3 Yr Annualized Total Return -0.9%
  • 5 Yr Annualized Total Return -1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.69%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Thornburg New York Intermediate Municipal Bond Fund
  • Fund Family Name
    Thornburg
  • Inception Date
    Feb 01, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Nicholos Venditti

Fund Description

The fund normally invests at least 80% of its assets in municipal obligations originating in New York State which are exempt from New York State and regular federal income taxes, and normally invests 100% of its assets in municipal obligations originating in New York or issued by United States territories and possessions and exempt from regular federal income tax. It may invest up to 20% of its assets in taxable securities. The fund is non-diversified.


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Categories

Performance

TNYIX - Performance

Return Ranking - Trailing

Period TNYIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.2% -11.1% 1.7% 5.84%
1 Yr -1.1% -7.4% 9.8% 27.15%
3 Yr -0.9%* -3.3% 4.6% 56.83%
5 Yr -1.0%* -2.9% 1.8% 54.55%
10 Yr 0.2%* -1.0% 1.1% 27.45%

* Annualized

Return Ranking - Calendar

Period TNYIX Return Category Return Low Category Return High Rank in Category (%)
2019 2.2% 2.2% 9.3% 100.00%
2018 -2.2% -6.6% 5.4% 32.64%
2017 0.2% -2.0% 4.3% 85.19%
2016 -2.7% -6.3% 0.0% 30.83%
2015 0.0% -4.4% 1.1% 46.97%

Total Return Ranking - Trailing

Period TNYIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.2% -11.1% 1.7% 5.84%
1 Yr -1.1% -7.4% 10.4% 27.15%
3 Yr -0.9%* -3.3% 4.6% 58.99%
5 Yr -1.0%* -2.9% 1.8% 58.33%
10 Yr 0.2%* -1.0% 2.7% 41.18%

* Annualized

Total Return Ranking - Calendar

Period TNYIX Return Category Return Low Category Return High Rank in Category (%)
2019 2.2% 2.2% 9.9% 100.00%
2018 -2.2% -6.6% 5.2% 38.89%
2017 0.2% -2.0% 4.3% 88.89%
2016 -2.7% -6.3% 0.9% 33.83%
2015 0.0% -4.4% 2.1% 58.33%

NAV & Total Return History


Holdings

TNYIX - Holdings

Concentration Analysis

TNYIX Category Low Category High TNYIX % Rank
Net Assets 48.5 M 36.5 M 5.49 B 98.70%
Number of Holdings 60 43 1229 96.75%
Net Assets in Top 10 15.3 M -130 M 820 M 95.45%
Weighting of Top 10 30.46% 5.6% 82.6% 18.18%

Top 10 Holdings

  1. SYRACUSE N Y INDL DEV AGY SCH FAC REV 5.25% 4.51%
  2. NEW YORK ST HSG FIN AGY REV 1.2% 3.79%
  3. NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 5% 3.34%
  4. NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT 5% 3.00%
  5. WEST SENECA N Y CENT SCH DIST 5% 2.99%
  6. NEW YORK N Y 5% 2.60%
  7. METROPOLITAN TRANSN AUTH N Y REV 5% 2.59%
  8. NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% 2.59%
  9. NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% 2.55%
  10. NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 5% 2.51%

Asset Allocation

Weighting Return Low Return High TNYIX % Rank
Bonds
99.89% 94.67% 147.58% 49.35%
Cash
0.11% -47.59% 5.32% 52.60%
Stocks
0.00% 0.00% 0.00% 59.09%
Preferred Stocks
0.00% 0.00% 0.00% 59.09%
Other
0.00% -0.40% 1.06% 62.99%
Convertible Bonds
0.00% 0.00% 0.00% 59.09%

Bond Sector Breakdown

Weighting Return Low Return High TNYIX % Rank
Municipal
99.89% 88.88% 100.57% 48.05%
Cash & Equivalents
0.11% -0.18% 5.32% 53.25%
Derivative
0.00% 0.00% 0.00% 59.09%
Securitized
0.00% 0.00% 0.00% 59.09%
Corporate
0.00% -0.39% 2.07% 59.74%
Government
0.00% -0.01% 9.83% 62.34%

Bond Geographic Breakdown

Weighting Return Low Return High TNYIX % Rank
US
96.38% 81.24% 141.70% 59.74%
Non US
3.51% 0.00% 18.23% 33.77%

Expenses

TNYIX - Expenses

Operational Fees

TNYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.88% 0.09% 3.53% 45.75%
Management Fee 0.50% 0.08% 0.70% 80.52%
12b-1 Fee 0.00% 0.00% 1.00% 12.50%
Administrative Fee 0.10% 0.01% 0.32% 45.00%

Sales Fees

TNYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TNYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TNYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.75% 6.00% 114.00% 41.56%

Distributions

TNYIX - Distributions

Dividend Yield Analysis

TNYIX Category Low Category High TNYIX % Rank
Dividend Yield 0.89% 0.00% 1.45% 6.54%

Dividend Distribution Analysis

TNYIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

TNYIX Category Low Category High TNYIX % Rank
Net Income Ratio 2.69% 1.40% 6.06% 64.05%

Capital Gain Distribution Analysis

TNYIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

TNYIX - Fund Manager Analysis

Managers

Nicholos Venditti


Start Date

Tenure

Tenure Rank

Feb 01, 2015

5.16

5.2%

Nicholos Venditti, CFA Portfolio Manager and Managing Director Nicholos Venditti is portfolio manager for Thornburg Investment Management. Nick joined Thornburg in 2010 as a fixed income research analyst and was promoted to associate portfolio manager in 2011 and portfolio manager and managing director in 2015. Nick earned an MS in finance from Syracuse University, an MA in applied economics from the University of North Carolina–Greensboro, and a BA from Trinity University. Prior to joining Thornburg Investment Management, Nick spent three years working as assistant vice president for bond insurer FSA (now merged with Assured Guaranty Corp).

David Ashley


Start Date

Tenure

Tenure Rank

Feb 01, 2019

1.16

1.2%

David Ashley is portfolio manager for Thornburg Investment Management. He joined Thornburg as associate portfolio manager in 2011 and was named portfolio manager in 2019. Dave earned a BS in finance and MBA from the University of Delaware in 2001. He is also a CFA charterholder. Prior to joining Thornburg Investment Management, Dave was a credit analyst for Wilmington Trust in Delaware.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.1 30.27 7.8 7.88