Thornburg Small/Mid Cap Core Fund Q4 2024 Commentary
Source: SeekingAlpha
2025-04-07 14:17:00 ET
Summary
- In 4Q24, Thornburg Small/Mid Cap Core Fund (I share class) returned 3.26%, 264 basis points ahead of the Russell 2500 Index.
- Yields on longer-term U.S. Treasuries rose around as much as the Fed cut its benchmark rate, as U.S. sovereign bond prices fell.
- Our positioning within segments of the market with higher profitability reflects our concerns about heightened policy risks, particularly on tariffs, and the potential for interest rate uncertainty to sustain market volatility.
AVERAGE ANNUAL TOTAL RETURNS (%)
| EXPENSE RATIOS (%) | |||||||||
| AS OF 31 DECEMBER 2024 | QTR | YTD | 1-YR | 3-YR | 5-YR | 10-YR | ITD | GROSS | NET |
| A Shares TVAFX (Incep: 2 Oct 95) | |||||||||
| Without sales charge | 3.16 | 19.42 | 19.42 | 2.82 | 6.68 | 8.14 | 9.36 | - | |
| With sales charge | -1.49 | 14.04 | 14.04 | 1.25 | 5.71 | 7.64 | 9.19 | 1.36 | 1.36 |
| I Shares TVIFX (Incep: 2 Nov 98)* | 3.26 | 19.92 | 19.92 | 3.26 | 7.1 | 8.55 | 9.78 | 1.08 | 0.95 |
| Russell 2500 Index | 0.62 | 12 | 12 | 2.39 | 8.77 | 8.85 | 9.8 |
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Thornburg Small/Mid Cap Core Fund Q4 2024 Commentary
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