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*	-0.49	-0.14	0.11	-0.25
Beta*	0.76	0.72	0.75	0.75
Mean annual return	0.15	0.31	0.37	0.31
R-squared*	97.15	95.96	94.54	95.28
Standard deviation	2.48	2.84	3.71	3.43
Sharpe ratio	0.70	1.30	1.12	0.56
* Against standard index

Risk measurement details »

Security	Net Assets
New Mexico Fin Auth 5%	3.27%
Albuquerque N Mex Mun Sch Dist 5%	2.98%
New Mexico St Hosp Equip Ln Co Rev Bd 6%	2.97%
Sandoval Cnty N Mex Incentive Ref Go 5%	2.81%
Las Cruces N Mex St Shared Gro Ref Re 5%	2.28%
Bernalillo Cnty N Mex Gross Rc Ref 5.25%	1.99%
Farmington N Mex Pollutn Ctl R Poll 4.7%	1.84%
Bernalillo Cnty N Mex Gross Rc Ref 5.25%	1.64%
Bernalillo Cnty N Mex Gross Rc Rev 5.7%	1.59%
Gallup N Mex Pollution Ctl Rev Rev Re 5%	1.56%

Holdings Performance »