The investment seeks to obtain as high a level of current income exempt from federal and New Mexico state individual income taxes as is consistent with preservation of capital; the secondary goal of the fund is to reduce expected changes in its share price compared to long-term bond portfolios. The fund invests at least 80% of its assets in municipal obligations originating in New Mexico which are exempt from New Mexico and regular federal income taxes, and normally invests 100% of its assets in municipal obligations originating in New Mexico or issued by United States territories or possessions. It is non-diversified.
Fund filings (PDF) »

Asset managers:
Josh Gonze (Started: Feb 1, 2007)
Christopher Ihlefeld (Started: Feb 1, 2007)
Christopher Ryon (Started: Feb 1, 2011)

Advisor Company:
Thornburg Investment Management, Inc.
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	-0.35	0.04	0.18	-0.25
Beta*	0.74	0.71	0.75	0.74
Mean annual return	0.29	0.37	0.40	0.33
R-squared*	96.34	95.42	94.39	95.27
Standard deviation	2.13	2.74	3.66	3.42
Sharpe ratio	1.57	1.57	1.22	0.64
* Against standard index

Risk measurement details »

Security	Net Assets
New Mexico Fin Auth 5%	3.20%
New Mexico St Hosp Equip Ln Co Rev Bd 6%	2.90%
Albuquerque N Mex Mun Sch Dist 5%	2.90%
Sandoval Cnty N Mex Incentive Ref Go 5%	2.75%
Las Cruces N Mex St Shared Gro Ref Re 5%	2.20%
Bernalillo Cnty N Mex Gross Rc Ref 5.25%	1.91%
Farmington N Mex Pollutn Ctl R Poll 4.7%	1.78%
Bernalillo Cnty N Mex Gross Rc Ref 5.25%	1.58%
Bernalillo Cnty N Mex Gross Rc Rev 5.7%	1.54%
Gallup N Mex Pollution Ctl Rev Rev Re 5%	1.53%

Holdings Performance »