Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
TSUMX. I typed it in here as a courtesy to anyone who's interested. It's certainly not the customary fare. Big $2.5M to get in. I took a look at the coupons on the bigger bond holdings. I dunno how those will do anything right now except to put a drag on results.
If one overlooks the idiosyncratic rise and fall of NAV in February 2021, it compares with and might even have a slight edge over FMSDX (depending on one's temperament).
If I was not averse at this point to adding an additional fund to my portfolio, I would seriously consider this.
Thornburg describes TSUMX newer (3/1/19- ; AUM $70 million only ) as multi-asset fund (stocks, bonds, alternatives) that is "unconstrained" or go-anywhere. No ranges for assets are specified in the prospectus but M* puts it in conservative-allocation/30-50% equity based on its current positioning. It may be a milder version of Thornburg's world-allocation/multi-asset TIBAX (NTF/no-load at Fido and Schwab) and its newer type of CEF TBLD (term-structure; not leveraged for now). TSUMX has transaction-fees at Fido and Schwab and both have lower min for IRAs (Fido $2,500; Schwab $1,000). I am surprised that Thornburg hasn't made it available as NTF/no-load at Fido and Schwab.
Please note avail at Schwab, Fidelity in IRA for $2500 minimum, not sure of other platforms. Holding up well YTD. WIthout using your qualified monies, bring your platinum checkbook or cash out your Bitcoin, then yes min's are high.
"For investors looking for inflation protection with a focus on risk adusted returns" We sure are, yes we are.
"Flexible, global mandate"
Been watching this one almost since it started. What peaked my interest is that I had good results with Thornburg Income Builder back in the day, way prior to 08'
It is NOT a "best idea" fund, has ability to short, very good returns so far.
In my no nothing opinion it might be one of the better allocation fund out there, might be a smaller more nimble and more conservative FPACX, dunno?
It might be one that you can hold thru thick and thin and come what may...and many grey beards feel there are storm clouds on the horizon.
Full Disclosure: I hold a noticeable 6-figure position in this fund and plan on sticking with this one. Do your own homework, do what is right for you and your situation, be careful.
@Baseball_Fan : I take that fund is in tax advantage account. I see a rather large CG for 2021 ! One thing I did like was the (minimal) lose during Covid-19 ,early on . Schwabie shows 3 other funds with no TF, so will take a peek at all 4. A quick look would declare TSUMX the winner from inception to ytd.
I am surprised that Thornburg hasn't made it available as NTF/no-load at Fido and Schwab. The TSAMX A shares have only been around for two weeks (per M*). Give it a few more days
Even TSUMX may be a recent addition at Fidelity. M* doesn't yet show that Fidelity carries it.
Franklin Income/FKIQX is misclassified as conservative-allocation/30-50% equity. When looking at its Relative-SD/Effective-Equity (65.8%; 73.6% for TSHIX), it is like moderate-allocation/50-70% equity. That can lead to unhappy experiences.
Edit/Add: Using PV for 33-month common run, the Relative-SDs/Effective-Equity are: FKIQX 65.6%, TSHIX 73.6%, TSUMX 61.4%. So, all 3 are acting like moderate-allocation/50-70% equity.
TSUMX has -ve total return for the past 6 months. For an extremely flexible mandate fund, that is doing nothing. How did its commodity exposure help. I suspect its objective to limit downside perhaps causes it to be conservative, unless they see a clear trend to risk on.
Comments
Just adding what I learned if it is helpful to others.
It is a multi-asset, real return fund. Its current bond allocation is mostly investment grade with a big slug of US Treasuries.
https://www.thornburg.com/wp-content/uploads/home/pdfs/TH4795_C-fact-sheet-S.pdf.pdf
If one overlooks the idiosyncratic rise and fall of NAV in February 2021, it compares with and might even have a slight edge over FMSDX (depending on one's temperament).
If I was not averse at this point to adding an additional fund to my portfolio, I would seriously consider this.
Please note avail at Schwab, Fidelity in IRA for $2500 minimum, not sure of other platforms. Holding up well YTD. WIthout using your qualified monies, bring your platinum checkbook or cash out your Bitcoin, then yes min's are high.
"For investors looking for inflation protection with a focus on risk adusted returns" We sure are, yes we are.
"Flexible, global mandate"
Been watching this one almost since it started. What peaked my interest is that I had good results with Thornburg Income Builder back in the day, way prior to 08'
It is NOT a "best idea" fund, has ability to short, very good returns so far.
In my no nothing opinion it might be one of the better allocation fund out there, might be a smaller more nimble and more conservative FPACX, dunno?
It might be one that you can hold thru thick and thin and come what may...and many grey beards feel there are storm clouds on the horizon.
Full Disclosure: I hold a noticeable 6-figure position in this fund and plan on sticking with this one. Do your own homework, do what is right for you and your situation, be careful.
Good Luck to All,
Baseball Fan
One thing I did like was the (minimal) lose during Covid-19 ,early on .
Schwabie shows 3 other funds with no TF, so will take a peek at all 4.
A quick look would declare TSUMX the winner from inception to ytd.
Thanks, Derf
The TSAMX A shares have only been around for two weeks (per M*). Give it a few more days
Even TSUMX may be a recent addition at Fidelity. M* doesn't yet show that Fidelity carries it.
Edit/Add: Using PV for 33-month common run, the Relative-SDs/Effective-Equity are:
FKIQX 65.6%, TSHIX 73.6%, TSUMX 61.4%. So, all 3 are acting like moderate-allocation/50-70% equity.