Thornburg International Equity Fund Class A

The primary objective of this fund is to achieve significant long-term capital appreciation, with the generation of current income being a secondary goal. It chiefly invests in equity securities of companies based outside the United States, including depositary receipts linked to such stocks. Although the fund has the discretion to invest in developing economies, under normal circumstances, these allocations are expected to form a smaller part of the portfolio compared to its investments in more established, developed nations.