Thornburg CA Limited-Term Muni Instl (LTCIX)
| Fund Assets | 275.07M |
| Expense Ratio | 0.49% |
| Min. Investment | $2,500,000 |
| Turnover | 46.36% |
| Dividend (ttm) | 0.41 |
| Dividend Yield | 3.20% |
| Dividend Growth | 6.96% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jul 31, 2025 |
| Previous Close | 12.93 |
| YTD Return | 1.95% |
| 1-Year Return | 2.42% |
| 5-Year Return | 3.99% |
| 52-Week Low | 12.50 |
| 52-Week High | 13.06 |
| Beta (5Y) | 0.13 |
| Holdings | 181 |
| Inception Date | Apr 1, 1997 |
About LTCIX
Thornburg California Limited Term Municipal Fund Class I is an actively managed municipal bond mutual fund focused on generating tax-exempt income for California residents while emphasizing capital preservation through shorter interest-rate exposure. The fund primarily invests in a laddered portfolio of municipal obligations issued by the State of California, its agencies, and local governments, targeting durations under four years typical of single-state short muni strategies. Its sector allocations span essential public finance areas such as miscellaneous revenue, transportation, utilities, health, education, and general obligation bonds, reflecting diversified exposure to the state’s infrastructure and services. The strategy seeks income that is generally exempt from federal and California state individual income taxes, aligning with the objectives of investors prioritizing tax efficiency within the state. As a Class I share class, it is designed for institutional-scale investors and features a net expense ratio reported around the upper-forty to low-fifty basis point range by third-party and sponsor sources. Within its Morningstar category of muni single-state short portfolios, the fund’s role is to provide a conservative, tax-efficient core fixed income allocation tied to California’s municipal market.
Performance
LTCIX had a total return of 2.42% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.84%.
Top 10 Holdings
21.71% of assets| Name | Symbol | Weight |
|---|---|---|
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 02.01.2055 | 3.01% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 02.01.2054 | 2.77% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 01.01.2054 | 2.76% |
| City of Los Angeles Department of Airports - LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | CA.LOSAPT 5 05.15.2033 | 2.20% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 02.01.2055 | 2.16% |
| San Joaquin Valley Clean Energy Authority - SAN JOAQUIN VLY CLEAN ENERGY AUTH CA CLEAN ENERGY REVENUE | CA.SSJUTL 01.01.2056 | 1.86% |
| Los Angeles Housing Authority - LOS ANGELES CA HSG AUTH MF HSG REVENUE | CA.LOSMFH 3.75 04.01.2034 | 1.86% |
| California Health Facilities Financing Authority - CALIFORNIA ST HLTH FACS FING AUTH REVENUE | CA.CASMED 06.01.2041 | 1.79% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 02.01.2052 | 1.71% |
| California State University - CALIFORNIA ST UNIV REVENUE | CA.CASHGR 11.01.2051 | 1.59% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jul 31, 2025 | $0.03511 | Jul 31, 2025 |
| Jun 30, 2025 | $0.03516 | Jun 30, 2025 |
| May 30, 2025 | $0.0348 | May 30, 2025 |
| Apr 30, 2025 | $0.03449 | Apr 30, 2025 |
| Mar 31, 2025 | $0.03456 | Mar 31, 2025 |
| Feb 28, 2025 | $0.03535 | Feb 28, 2025 |