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.
Fund Family Thornburg
Category Muni Single State Short
Performance Rating Above Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol LTCIX
Share Class - Class I
Index Index is not available on Lipper Database
LTCIX had a total return of 2.78% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.90%.
