Thornburg is Cooking Up a Developing Markets Fund
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Friday, October 09, 2009

Thornburg is Cooking Up a Developing Markets Fund

Thornburg Investment Management is targeting to add a fund that invests in developing nations to its product roster before Christmas, according to an SEC filing. The Santa Fe, New Mexico-based firm plans to launch the Thornburg Developing World Fund on December 16.

The fund will be offered in three classes, with an expense ratio of 183 bps for A shares, 283 bps for C shares, and 109 bps for I shares.

It will invest 80 percent of its assets in equity securities and debt obligations of developing country issuers, including most Central and South American states, many African nations, China and Hong Kong, India, Indonesia, Pakistan, South Korea, Qatar, Poland, Russia, Slovenia, Thailand, and Romania, among others.

Thornburg currently has six equity funds and nine bond funds.

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