0001193125-12-419558.txt : 20121010 0001193125-12-419558.hdr.sgml : 20121010 20121010122849 ACCESSION NUMBER: 0001193125-12-419558 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121010 DATE AS OF CHANGE: 20121010 EFFECTIVENESS DATE: 20121010 FILER: COMPANY DATA: COMPANY CONFORMED NAME: THORNBURG INVESTMENT TRUST CENTRAL INDEX KEY: 0000816153 IRS NUMBER: 061158764 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-14905 FILM NUMBER: 121137118 BUSINESS ADDRESS: STREET 1: 2300 NORTH RIDGETOP ROAD CITY: SANTA FE STATE: NM ZIP: 87506-8361 BUSINESS PHONE: 5059840200 MAIL ADDRESS: STREET 1: 2300 NORTH RIDGETOP ROAD CITY: SANTA FE STATE: NM ZIP: 87506-8361 FORMER COMPANY: FORMER CONFORMED NAME: THORNBURG INCOME TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: LIMITED TERM TRUST DATE OF NAME CHANGE: 19870816 0000816153 S000011851 Thornburg Investment Income Builder Fund C000042675 Thornburg Investment Income Builder Fund - Class R3 TIBRX C000047041 Thornburg Investment Income Builder Fund - Class R5 TIBMX C000058461 Thornburg Investment Income Builder Fund - Class R4 TIBGX 0000816153 S000020097 Thornburg Strategic Income Fund C000113850 Thornburg Strategic Income Fund - Class R3: TSIRX C000113851 Thornburg Strategic Income Fund - Class R5: TSRRX 497 1 d419992d497.htm FORM 497 Form 497
Thompson, Hickey, Cunningham, Clow, April & Dolan, P.A.    ATTORNEYS AND COUNSELORS AT LAW

Daniel H. April

Janet Clow

David F. Cunningham

Patrick J. Dolan

John M. Hickey

C.W.N. Thompson, Jr.

 

October 10, 2012

Division of Investment Management

Securities and Exchange Commission

450 Fifth Street, N.W.

Washington, D.C. 20549

 

  Re:      Thornburg Investment Trust
       Registration Number under the Securities Act of 1933: 33-14905
       Registration Number under the Investment Company Act of 1940: 811-05201

Ladies and Gentlemen:

On behalf of the above-referenced Registrant and pursuant to Rule 497 under the Securities Act of 1933, as amended, I have attached for filing exhibits containing interactive data format risk/return summary information. These interactive data files relate to the prospectus supplement that the Registrant filed with the Securities and Exchange Commission on October 2, 2012 pursuant to Rule 497 for the retirement class shares of two of the Registrant’s series (Accession No. 0001193125-12-411764).

Please contact me at the number referenced below if you have any questions regarding this filing.

 

Sincerely,

/s/ Daniel H. April

Daniel H. April

 

460 St. Michael’s Drive    E-mail: dan_april@catchlaw.com   Tel.: (505) 988-2900
Suite 1000    Web Address: www.catchlaw.com   Extension 103
Santa Fe, New Mexico 87505      Fax: (505) 988-2901
EX-101.INS 2 tit3-20121002.xml XBRL INSTANCE DOCUMENT 0000816153 tit3:S000011851Member 2011-02-02 2012-02-01 0000816153 tit3:S000020097Member 2011-02-02 2012-02-01 0000816153 tit3:S000011851Member tit3:C000042675Member 2011-02-02 2012-02-01 0000816153 tit3:S000011851Member tit3:C000058461Member 2011-02-02 2012-02-01 0000816153 tit3:S000011851Member tit3:C000047041Member 2011-02-02 2012-02-01 0000816153 tit3:S000020097Member tit3:C000042675Member 2011-02-02 2012-02-01 0000816153 tit3:S000020097Member tit3:C000047041Member 2011-02-02 2012-02-01 0000816153 2011-02-02 2012-02-01 pure iso4217:USD <font style="FONT-FAMILY: Times New Roman" size="2"><b>Example.</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Example.</b></font> 1029 1003 906 910 <font style="FONT-FAMILY: Times New Roman" size="2"><b>Shareholder Fees</b><br/><i>(fees paid directly from your investment)</i></font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221;) its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 30.34% of the average value of its portfolio.</font> 0 0 656 <font style="FONT-FAMILY: Times New Roman" size="2"><b>Shareholder Fees</b><br/><i>(fees paid directly from your investment)</i></font> <font style="FONT-FAMILY: Times New Roman" size="2"> Other expenses are estimated for the current fiscal year.</font> <font style="FONT-FAMILY: Times New Roman" size="2">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221;) its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 48.09% of the average value of its portfolio.</font> THORNBURG INVESTMENT TRUST <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses</b><br/>(expenses that you pay each year as a percentage of the value of your investment)</font> <font style="FONT-FAMILY: Times New Roman" size="2">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:</font> 0 -0.0008 178 168 126 0 0 105 131 <font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses</b><br/>(expenses that you pay each year as a percentage of the value of your investment)</font> <font style="FONT-FAMILY: Times New Roman" size="2">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br/><br/>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:</font> 0000816153 false Other 2012-10-02 2012-10-02 2011-09-30 <font style="FONT-FAMILY: Times New Roman" size="2"><b>Fees and Expenses of the Fund</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Portfolio Turnover.</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">May 1, 2013</font> 0 0 0 0.005 0.0183 0.019 0.0176 -0.0025 -0.0052 591 573 504 0 0 0.0176 0.0123 -0.0047 -0.002 508 371 <font style="FONT-FAMILY: Times New Roman" size="2"><b>Fees and Expenses of the Fund</b></font> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Portfolio Turnover.</b></font> <font style="FONT-FAMILY: Times New Roman" size="2">May 1, 2013</font> 2012-02-01 <p style="margin-top: 12px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>SUPPLEMENT </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><i>dated October&nbsp;2, 2012 </i></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>TO </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>THORNBURG FUNDS RETIREMENT PLAN SHARES PROSPECTUS </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><i>dated February&nbsp;1, 2012 , as revised May&nbsp;1, 2012 </i></font></p> <p style="margin-top: 12px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The disclosures on page 9 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the <b>Thornburg Strategic Income Fund</b>, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below. </font></p> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp; </p> <div style="position: relative; PADDING-bottom: 8px; WIDTH: 48%; PADDING-RIGHT: 9px; FLOAT: left; OVERFLOW: hidden; margin-RIGHT: 1%; PADDING-top: 3px"> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Fees and Expenses of the Fund </b></font></p> <p style="margin-top: 6px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </font></p> <p style="margin-top: 18px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Shareholder Fees </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><i>(fees paid directly from your investment) </i></font></p> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp;</p> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="72%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">Class&nbsp;R3</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">Class&nbsp;R5</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Maximum Sales Charge (Load) Imposed on Purchases<br/><i>(as a percentage of offering price)</i></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">none</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">none</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td></tr> <tr> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Maximum Deferred Sales Charge (Load)<br/><i>(as a percentage of redemption proceeds or original purchase price, whichever is lower)</i></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">none</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">none</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td></tr></table> <p style="margin-top: 18px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><i>(expenses that you pay each year as a percentage of the value of your investment) </i></font></p> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp;</p> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="73%"></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">Class&nbsp;R3</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">Class&nbsp;R5</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Management Fees</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.75</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.75</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Distribution and Service (12b-1) Fees</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.50</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.00</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Other Expenses</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline">(1)(2)</sup></font><font style="FONT-FAMILY: Times New Roman" size="2"></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.47</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.44</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Acquired Fund Fees and Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.04</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.04</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Total Annual Fund Operating Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">1.76</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">1.23</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Fee Waiver/Expense Reimbursement</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline">(3)</sup></font><font style="FONT-FAMILY: Times New Roman" size="2"></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">(0.47</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">)%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">(0.20</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">)%&nbsp;</font></td></tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline">(4)</sup></font><font style="FONT-FAMILY: Times New Roman" size="2"></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">1.29</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">1.03</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr></table> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp;</p> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="27" align="left"><font size="2">(1)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund. </font></td></tr></table> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="27" align="left"><font size="2">(2)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Other expenses are estimated for the current fiscal year. </font></td></tr></table> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="27" align="left"><font size="2">(3)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3 and Class R5 expenses do not exceed 1.25% and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May&nbsp;1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date. </font></td></tr></table> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="27" align="left"><font size="2">(4)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation. </font></td></tr></table></div> <div style="position: relative; PADDING-bottom: 8px; WIDTH: 48%; PADDING-RIGHT: 9px; FLOAT: right; OVERFLOW: hidden; PADDING-top: 3px"> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Example.</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. </font></p> <p style="margin-top: 12px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be: </font></p> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp;</p> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="49%"></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">1&nbsp;Year</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">3&nbsp;Years</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">5&nbsp;Years</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">10&nbsp;Years</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Class R3 Shares</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">131</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">508</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">910</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">2,034</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td></tr> <tr> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Class R5 Shares</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">105</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">371</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">656</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">1,471</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td></tr></table> <p style="margin-top: 12px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Explanation of Acquired Fund Fees and Expenses.</b> "Acquired Fund Fees and Expenses" shown in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 50 &#8211; 51, for a clearer picture of the Fund's actual operating costs. </font></p> <p style="margin-top: 12px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Portfolio Turnover.</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 48.09% of the average value of its portfolio.&nbsp;</font></p></div><br/><br/><div style="position:relative;float:right; width:48%;padding-right:9px;padding-bottom:8px;overflow:hidden;padding-top:3px"> </div><div style="clear:both; height:0px; font-size:0px"> </div> <p style="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px"><font size="1"> </font></p> <p style="margin-top:0px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">The disclosures on page 27 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the&nbsp;<b>Thornburg Investment Income Builder Fund</b>, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below.</font></p><p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp; </p> <div style="position: relative; PADDING-bottom: 8px; WIDTH: 48%; PADDING-RIGHT: 9px; FLOAT: left; OVERFLOW: hidden; margin-RIGHT: 1%; PADDING-top: 3px"> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Fees and Expenses of the Fund</b></font></p><p style="margin-top: 6px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; ">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font></p><p style="margin-top: 18px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><b>Shareholder Fees</b></font></p><p style="margin-top: 0px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><i>(fees paid directly from your investment)</i></font></p><p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px; ">&nbsp;</p><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="border-collapse: collapse; "><tr><td width="58%"></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td></tr><tr><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R3</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R4</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R5</font></td><td valign="bottom"><font size="1">&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Maximum Sales Charge (Load) Imposed on Purchases<br/><i>(as a percentage of offering price)</i></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Maximum Deferred Sales Charge (Load)<br/><i>(as a percentage of redemption proceeds or original purchase price, whichever is lower)</i></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr></table><p style="margin-top: 18px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><b>Annual Fund Operating Expenses</b></font></p><p style="margin-top: 0px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><i>(expenses that you pay each year as a percentage of the value of your investment)</i></font></p><p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px; ">&nbsp;</p><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="border-collapse: collapse; "><tr><td width="60%"></td><td valign="bottom" width="11%"></td><td></td><td></td><td></td><td valign="bottom" width="10%"></td><td></td><td></td><td></td><td valign="bottom" width="10%"></td><td></td><td></td><td></td></tr><tr><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R3</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R4</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R5</font></td><td valign="bottom"><font size="1">&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Management Fees</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.71</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.71</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.71</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Distribution and Service (12b-1) Fees</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.50</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.00</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Other Expenses</font><font size="1" style="font-family: 'Times New Roman'; "><sup style="vertical-align: baseline; position: relative; bottom: 0.8ex; ">(1)</sup></font><font size="2" style="font-family: 'Times New Roman'; "></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.37</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.69</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.80</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Acquired Fund Fees and Expenses</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr style="font-size: 1px; "><td valign="bottom"></td><td valign="bottom">&nbsp;&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td><td valign="bottom">&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td><td valign="bottom">&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Total Annual Fund Operating Expenses</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.83</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.90</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.76</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Fee Waiver/Expense Reimbursement</font><font size="1" style="font-family: 'Times New Roman'; "><sup style="vertical-align: baseline; position: relative; bottom: 0.8ex; ">(2)</sup></font><font size="2" style="font-family: 'Times New Roman'; "></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">(0.08</font></td><td nowrap="nowrap" valign="bottom"><font size="2">)%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">(0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">)%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">(0.52</font></td><td nowrap="nowrap" valign="bottom"><font size="2">)%&nbsp;</font></td></tr><tr style="font-size: 1px; "><td valign="bottom"></td><td valign="bottom">&nbsp;&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td><td valign="bottom">&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td><td valign="bottom">&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement</font><font size="1" style="font-family: 'Times New Roman'; "><sup style="vertical-align: baseline; position: relative; bottom: 0.8ex; ">(3)</sup></font><font size="2" style="font-family: 'Times New Roman'; "></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.75</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.65</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.24</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr></table><p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px; ">&nbsp;</p><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: collapse; "><tr><td width="27" valign="top" align="left"><font size="2">(1)</font></td><td align="left" valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: collapse; "><tr><td width="27" valign="top" align="left"><font size="2">(2)</font></td><td align="left" valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3, Class R4 and Class R5 expenses do not exceed 1.50%, 1.40%, and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May&nbsp;1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: collapse; "><tr><td width="27" valign="top" align="left"><font size="2">(3)</font></td><td align="left" valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.</font></td></tr></table></div><div style="position: relative; PADDING-bottom: 8px; WIDTH: 48%; PADDING-RIGHT: 9px; FLOAT: right; OVERFLOW: hidden; PADDING-top: 3px"> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Example.</b>&nbsp;This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</font></p><p style="margin-top: 12px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; ">The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:</font></p><p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px; ">&nbsp;</p><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="border-collapse: collapse; "><tr><td width="50%"></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td></tr><tr><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">1&nbsp;Year</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">3&nbsp;Years</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">5&nbsp;Years</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">10&nbsp;Years</font></td><td valign="bottom"><font size="1">&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Class R3 Shares</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">178</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">591</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">1,029</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">2,249</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Class R4 Shares</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">168</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">573</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">1,003</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">2,202</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Class R5 Shares</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">126</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">504</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">906</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">2,030</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr></table><p style="margin-top: 12px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><b>Explanation of Acquired Fund Fees and Expenses.</b>&nbsp;"Acquired Fund Fees and Expenses" shown in the table in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 60 &#8211; 61, for a clearer picture of the Fund's actual operating costs.</font></p><p style="margin-top: 12px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><b>Portfolio Turnover.</b>&nbsp;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 30.34% of the average value of its portfolio.</font></p></div> <p style="margin-top: 12px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>SUPPLEMENT </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><i>dated October&nbsp;2, 2012 </i></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>TO </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>THORNBURG FUNDS RETIREMENT PLAN SHARES PROSPECTUS </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><i>dated February&nbsp;1, 2012 , as revised May&nbsp;1, 2012 </i></font></p><div style="position:relative;float:right; width:48%;padding-right:9px;padding-bottom:8px;overflow:hidden;padding-top:3px"> </div><div style="clear:both; height:0px; font-size:0px"> </div> <p style="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px"><font size="1"> </font></p> <p style="margin-top:0px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2">The disclosures on page 27 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the&nbsp;<b>Thornburg Investment Income Builder Fund</b>, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below.</font></p><p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp; </p> <div style="position: relative; PADDING-bottom: 8px; WIDTH: 48%; PADDING-RIGHT: 9px; FLOAT: left; OVERFLOW: hidden; margin-RIGHT: 1%; PADDING-top: 3px"> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Fees and Expenses of the Fund</b></font></p><p style="margin-top: 6px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; ">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</font></p><p style="margin-top: 18px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><b>Shareholder Fees</b></font></p><p style="margin-top: 0px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><i>(fees paid directly from your investment)</i></font></p><p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px; ">&nbsp;</p><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="border-collapse: collapse; "><tr><td width="58%"></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td></tr><tr><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R3</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R4</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R5</font></td><td valign="bottom"><font size="1">&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Maximum Sales Charge (Load) Imposed on Purchases<br/><i>(as a percentage of offering price)</i></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Maximum Deferred Sales Charge (Load)<br/><i>(as a percentage of redemption proceeds or original purchase price, whichever is lower)</i></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">none</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr></table><p style="margin-top: 18px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><b>Annual Fund Operating Expenses</b></font></p><p style="margin-top: 0px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><i>(expenses that you pay each year as a percentage of the value of your investment)</i></font></p><p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px; ">&nbsp;</p><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="border-collapse: collapse; "><tr><td width="60%"></td><td valign="bottom" width="11%"></td><td></td><td></td><td></td><td valign="bottom" width="10%"></td><td></td><td></td><td></td><td valign="bottom" width="10%"></td><td></td><td></td><td></td></tr><tr><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R3</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R4</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">Class&nbsp;R5</font></td><td valign="bottom"><font size="1">&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Management Fees</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.71</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.71</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.71</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Distribution and Service (12b-1) Fees</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.50</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.00</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Other Expenses</font><font size="1" style="font-family: 'Times New Roman'; "><sup style="vertical-align: baseline; position: relative; bottom: 0.8ex; ">(1)</sup></font><font size="2" style="font-family: 'Times New Roman'; "></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.37</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.69</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.80</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Acquired Fund Fees and Expenses</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr style="font-size: 1px; "><td valign="bottom"></td><td valign="bottom">&nbsp;&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td><td valign="bottom">&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td><td valign="bottom">&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Total Annual Fund Operating Expenses</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.83</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.90</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.76</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Fee Waiver/Expense Reimbursement</font><font size="1" style="font-family: 'Times New Roman'; "><sup style="vertical-align: baseline; position: relative; bottom: 0.8ex; ">(2)</sup></font><font size="2" style="font-family: 'Times New Roman'; "></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">(0.08</font></td><td nowrap="nowrap" valign="bottom"><font size="2">)%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">(0.25</font></td><td nowrap="nowrap" valign="bottom"><font size="2">)%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">(0.52</font></td><td nowrap="nowrap" valign="bottom"><font size="2">)%&nbsp;</font></td></tr><tr style="font-size: 1px; "><td valign="bottom"></td><td valign="bottom">&nbsp;&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td><td valign="bottom">&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td><td valign="bottom">&nbsp;</td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td valign="bottom"><p style="border-top-width: 1px; border-top-style: solid; border-top-color: rgb(0, 0, 0); ">&nbsp;</p></td><td>&nbsp;</td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement</font><font size="1" style="font-family: 'Times New Roman'; "><sup style="vertical-align: baseline; position: relative; bottom: 0.8ex; ">(3)</sup></font><font size="2" style="font-family: 'Times New Roman'; "></font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.75</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.65</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="2">&nbsp;</font></td><td valign="bottom" align="right"><font size="2">1.24</font></td><td nowrap="nowrap" valign="bottom"><font size="2">%&nbsp;</font></td></tr></table><p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px; ">&nbsp;</p><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: collapse; "><tr><td width="27" valign="top" align="left"><font size="2">(1)</font></td><td align="left" valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: collapse; "><tr><td width="27" valign="top" align="left"><font size="2">(2)</font></td><td align="left" valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3, Class R4 and Class R5 expenses do not exceed 1.50%, 1.40%, and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May&nbsp;1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: collapse; "><tr><td width="27" valign="top" align="left"><font size="2">(3)</font></td><td align="left" valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.</font></td></tr></table></div><div style="position: relative; PADDING-bottom: 8px; WIDTH: 48%; PADDING-RIGHT: 9px; FLOAT: right; OVERFLOW: hidden; PADDING-top: 3px"> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Example.</b>&nbsp;This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</font></p><p style="margin-top: 12px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; ">The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:</font></p><p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px; ">&nbsp;</p><table cellspacing="0" cellpadding="0" width="100%" border="0" align="center" style="border-collapse: collapse; "><tr><td width="50%"></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td><td valign="bottom" width="7%"></td><td></td><td></td><td></td></tr><tr><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">1&nbsp;Year</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">3&nbsp;Years</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">5&nbsp;Years</font></td><td valign="bottom"><font size="1">&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom" colspan="2" align="center" style="border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); "><font size="1">10&nbsp;Years</font></td><td valign="bottom"><font size="1">&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Class R3 Shares</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">178</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">591</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">1,029</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">2,249</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr><tr><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Class R4 Shares</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">168</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">573</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">1,003</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">2,202</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr><tr bgcolor="#cceeff"><td valign="top"><font size="2" style="font-family: 'Times New Roman'; ">Class R5 Shares</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">126</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">504</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">906</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td><td valign="bottom"><font size="2">$</font></td><td valign="bottom" align="right"><font size="2">2,030</font></td><td nowrap="nowrap" valign="bottom"><font size="2">&nbsp;&nbsp;</font></td></tr></table><p style="margin-top: 12px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><b>Explanation of Acquired Fund Fees and Expenses.</b>&nbsp;"Acquired Fund Fees and Expenses" shown in the table in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 60 &#8211; 61, for a clearer picture of the Fund's actual operating costs.</font></p><p style="margin-top: 12px; margin-bottom: 0px; "><font size="2" style="font-family: 'Times New Roman'; "><b>Portfolio Turnover.</b>&nbsp;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 30.34% of the average value of its portfolio.</font></p></div> 0.3034 0.0071 0.0071 0.0071 0.0025 0 0.0037 0.0069 0.008 0.0025 0.0025 0.0025 0.0175 0.0165 0.0124 2249 2202 2030 0.0075 0.0075 0.005 0 0.0047 0.0044 0.0004 0.0004 0.0129 0.0103 2034 1471 0.4809 <p style="margin-top: 12px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>SUPPLEMENT </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><i>dated October&nbsp;2, 2012 </i></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>TO </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><b>THORNBURG FUNDS RETIREMENT PLAN SHARES PROSPECTUS </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px" align="center"><font style="FONT-FAMILY: Times New Roman" size="2"><i>dated February&nbsp;1, 2012 , as revised May&nbsp;1, 2012 </i></font></p> <p style="margin-top: 12px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The disclosures on page 9 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the <b>Thornburg Strategic Income Fund</b>, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below. </font></p> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp; </p> <div style="position: relative; PADDING-bottom: 8px; WIDTH: 48%; PADDING-RIGHT: 9px; FLOAT: left; OVERFLOW: hidden; margin-RIGHT: 1%; PADDING-top: 3px"> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Fees and Expenses of the Fund </b></font></p> <p style="margin-top: 6px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. </font></p> <p style="margin-top: 18px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Shareholder Fees </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><i>(fees paid directly from your investment) </i></font></p> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp;</p> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="72%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">Class&nbsp;R3</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">Class&nbsp;R5</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Maximum Sales Charge (Load) Imposed on Purchases<br/><i>(as a percentage of offering price)</i></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">none</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">none</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td></tr> <tr> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Maximum Deferred Sales Charge (Load)<br/><i>(as a percentage of redemption proceeds or original purchase price, whichever is lower)</i></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">none</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">none</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td></tr></table> <p style="margin-top: 18px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Annual Fund Operating Expenses </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><i>(expenses that you pay each year as a percentage of the value of your investment) </i></font></p> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp;</p> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="73%"></td> <td valign="bottom" width="11%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">Class&nbsp;R3</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">Class&nbsp;R5</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Management Fees</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.75</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.75</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Distribution and Service (12b-1) Fees</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.50</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.00</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Other Expenses</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline">(1)(2)</sup></font><font style="FONT-FAMILY: Times New Roman" size="2"></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.47</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.44</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Acquired Fund Fees and Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.04</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">0.04</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Total Annual Fund Operating Expenses</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">1.76</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">1.23</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr> <tr> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Fee Waiver/Expense Reimbursement</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline">(3)</sup></font><font style="FONT-FAMILY: Times New Roman" size="2"></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">(0.47</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">)%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">(0.20</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">)%&nbsp;</font></td></tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td valign="bottom"> <p style="border-top: #000000 1px solid">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="position: relative; bottom: 0.8ex; vertical-align: baseline">(4)</sup></font><font style="FONT-FAMILY: Times New Roman" size="2"></font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">1.29</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="2">&nbsp;</font></td> <td valign="bottom" align="right"><font size="2">1.03</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">%&nbsp;</font></td></tr></table> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp;</p> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="27" align="left"><font size="2">(1)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund. </font></td></tr></table> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="27" align="left"><font size="2">(2)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Other expenses are estimated for the current fiscal year. </font></td></tr></table> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="27" align="left"><font size="2">(3)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3 and Class R5 expenses do not exceed 1.25% and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May&nbsp;1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date. </font></td></tr></table> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="27" align="left"><font size="2">(4)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation. </font></td></tr></table></div> <div style="position: relative; PADDING-bottom: 8px; WIDTH: 48%; PADDING-RIGHT: 9px; FLOAT: right; OVERFLOW: hidden; PADDING-top: 3px"> <p style="margin-top: 0px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Example.</b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. </font></p> <p style="margin-top: 12px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be: </font></p> <p style="margin-top: 0px; margin-bottom: 0px; FONT-SIZE: 12px">&nbsp;</p> <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="49%"></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="8%"></td> <td></td> <td></td> <td></td></tr> <tr> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">1&nbsp;Year</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">3&nbsp;Years</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">5&nbsp;Years</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td style="border-bottom: #000000 1px solid" valign="bottom" colspan="2" align="center"><font size="1">10&nbsp;Years</font></td> <td valign="bottom"><font size="1">&nbsp;</font></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> <font style="FONT-FAMILY: Times New Roman" size="2">Class R3 Shares</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">131</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">508</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">910</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">2,034</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td></tr> <tr> <td valign="top"><font style="FONT-FAMILY: Times New Roman" size="2">Class R5 Shares</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">105</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">371</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">656</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td> <td valign="bottom"><font size="2">$</font></td> <td valign="bottom" align="right"><font size="2">1,471</font></td> <td valign="bottom" nowrap="nowrap"><font size="2">&nbsp;&nbsp;</font></td></tr></table> <p style="margin-top: 12px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Explanation of Acquired Fund Fees and Expenses.</b> "Acquired Fund Fees and Expenses" shown in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 50 &#8211; 51, for a clearer picture of the Fund's actual operating costs. </font></p> <p style="margin-top: 12px; margin-bottom: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Portfolio Turnover.</b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 48.09% of the average value of its portfolio.&nbsp;</font></p></div> A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund. Other expenses are estimated for the current fiscal year. Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3 and Class R5 expenses do not exceed 1.25% and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date. Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3, Class R4 and Class R5 expenses do not exceed 1.50%, 1.40%, and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date. The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation. 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SUPPLEMENT

dated October 2, 2012

TO

THORNBURG FUNDS RETIREMENT PLAN SHARES PROSPECTUS

dated February 1, 2012 , as revised May 1, 2012

The disclosures on page 9 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the Thornburg Strategic Income Fund, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below.

 

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees

(fees paid directly from your investment)

 

     Class R3      Class R5  
Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)
     none         none   
Maximum Deferred Sales Charge (Load)
(as a percentage of redemption proceeds or original purchase price, whichever is lower)
     none         none   

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

 

     Class R3     Class R5  
Management Fees      0.75     0.75
Distribution and Service (12b-1) Fees      0.50     0.00
Other Expenses(1)(2)      0.47     0.44
Acquired Fund Fees and Expenses      0.04     0.04
  

 

 

   

 

 

 
Total Annual Fund Operating Expenses      1.76     1.23
Fee Waiver/Expense Reimbursement(3)      (0.47 )%      (0.20 )% 
  

 

 

   

 

 

 
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement(4)      1.29     1.03

 

(1) A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.
(2) Other expenses are estimated for the current fiscal year.
(3) Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3 and Class R5 expenses do not exceed 1.25% and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.
(4) The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:

 

     1 Year      3 Years      5 Years      10 Years  
Class R3 Shares    $ 131       $ 508       $ 910       $ 2,034   
Class R5 Shares    $ 105       $ 371       $ 656       $ 1,471   

Explanation of Acquired Fund Fees and Expenses. "Acquired Fund Fees and Expenses" shown in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 50 – 51, for a clearer picture of the Fund's actual operating costs.

Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 48.09% of the average value of its portfolio. 



 

The disclosures on page 27 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the Thornburg Investment Income Builder Fund, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below.

 

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees

(fees paid directly from your investment)

 

   Class R3   Class R4   Class R5 
Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)
   none     none     none  
Maximum Deferred Sales Charge (Load)
(as a percentage of redemption proceeds or original purchase price, whichever is lower)
   none     none     none  

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

 

   Class R3  Class R4  Class R5 
Management Fees   0.71  0.71  0.71
Distribution and Service (12b-1) Fees   0.50  0.25  0.00
Other Expenses(1)   0.37  0.69  0.80
Acquired Fund Fees and Expenses   0.25  0.25  0.25
  

 

 

  

 

 

  

 

 

 
Total Annual Fund Operating Expenses   1.83  1.90  1.76
Fee Waiver/Expense Reimbursement(2)   (0.08)%   (0.25)%   (0.52)% 
  

 

 

  

 

 

  

 

 

 
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement(3)   1.75  1.65  1.24

 

(1)A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.
(2)Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3, Class R4 and Class R5 expenses do not exceed 1.50%, 1.40%, and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.
(3)The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:

 

   1 Year   3 Years   5 Years   10 Years 
Class R3 Shares  $178    $591    $1,029    $2,249  
Class R4 Shares  $168    $573    $1,003    $2,202  
Class R5 Shares  $126    $504    $906    $2,030  

Explanation of Acquired Fund Fees and Expenses. "Acquired Fund Fees and Expenses" shown in the table in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 60 – 61, for a clearer picture of the Fund's actual operating costs.

Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 30.34% of the average value of its portfolio.

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XML 12 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName THORNBURG INVESTMENT TRUST
Prospectus Date rr_ProspectusDate Feb. 01, 2012
Supplement [Text Block] tit3_SupplementTextBlock

SUPPLEMENT

dated October 2, 2012

TO

THORNBURG FUNDS RETIREMENT PLAN SHARES PROSPECTUS

dated February 1, 2012 , as revised May 1, 2012

The disclosures on page 9 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the Thornburg Strategic Income Fund, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below.

 

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees

(fees paid directly from your investment)

 

     Class R3      Class R5  
Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)
     none         none   
Maximum Deferred Sales Charge (Load)
(as a percentage of redemption proceeds or original purchase price, whichever is lower)
     none         none   

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

 

     Class R3     Class R5  
Management Fees      0.75     0.75
Distribution and Service (12b-1) Fees      0.50     0.00
Other Expenses(1)(2)      0.47     0.44
Acquired Fund Fees and Expenses      0.04     0.04
  

 

 

   

 

 

 
Total Annual Fund Operating Expenses      1.76     1.23
Fee Waiver/Expense Reimbursement(3)      (0.47 )%      (0.20 )% 
  

 

 

   

 

 

 
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement(4)      1.29     1.03

 

(1) A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.
(2) Other expenses are estimated for the current fiscal year.
(3) Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3 and Class R5 expenses do not exceed 1.25% and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.
(4) The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:

 

     1 Year      3 Years      5 Years      10 Years  
Class R3 Shares    $ 131       $ 508       $ 910       $ 2,034   
Class R5 Shares    $ 105       $ 371       $ 656       $ 1,471   

Explanation of Acquired Fund Fees and Expenses. "Acquired Fund Fees and Expenses" shown in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 50 – 51, for a clearer picture of the Fund's actual operating costs.

Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 48.09% of the average value of its portfolio. 



 

The disclosures on page 27 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the Thornburg Investment Income Builder Fund, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below.

 

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees

(fees paid directly from your investment)

 

   Class R3   Class R4   Class R5 
Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)
   none     none     none  
Maximum Deferred Sales Charge (Load)
(as a percentage of redemption proceeds or original purchase price, whichever is lower)
   none     none     none  

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

 

   Class R3  Class R4  Class R5 
Management Fees   0.71  0.71  0.71
Distribution and Service (12b-1) Fees   0.50  0.25  0.00
Other Expenses(1)   0.37  0.69  0.80
Acquired Fund Fees and Expenses   0.25  0.25  0.25
  

 

 

  

 

 

  

 

 

 
Total Annual Fund Operating Expenses   1.83  1.90  1.76
Fee Waiver/Expense Reimbursement(2)   (0.08)%   (0.25)%   (0.52)% 
  

 

 

  

 

 

  

 

 

 
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement(3)   1.75  1.65  1.24

 

(1)A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.
(2)Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3, Class R4 and Class R5 expenses do not exceed 1.50%, 1.40%, and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.
(3)The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:

 

   1 Year   3 Years   5 Years   10 Years 
Class R3 Shares  $178    $591    $1,029    $2,249  
Class R4 Shares  $168    $573    $1,003    $2,202  
Class R5 Shares  $126    $504    $906    $2,030  

Explanation of Acquired Fund Fees and Expenses. "Acquired Fund Fees and Expenses" shown in the table in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 60 – 61, for a clearer picture of the Fund's actual operating costs.

Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 30.34% of the average value of its portfolio.

Thornburg Strategic Income Fund
 
Risk/Return: rr_RiskReturnAbstract  
Supplement [Text Block] tit3_SupplementTextBlock

SUPPLEMENT

dated October 2, 2012

TO

THORNBURG FUNDS RETIREMENT PLAN SHARES PROSPECTUS

dated February 1, 2012 , as revised May 1, 2012

The disclosures on page 9 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the Thornburg Strategic Income Fund, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below.

 

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees

(fees paid directly from your investment)

 

     Class R3      Class R5  
Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)
     none         none   
Maximum Deferred Sales Charge (Load)
(as a percentage of redemption proceeds or original purchase price, whichever is lower)
     none         none   

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

 

     Class R3     Class R5  
Management Fees      0.75     0.75
Distribution and Service (12b-1) Fees      0.50     0.00
Other Expenses(1)(2)      0.47     0.44
Acquired Fund Fees and Expenses      0.04     0.04
  

 

 

   

 

 

 
Total Annual Fund Operating Expenses      1.76     1.23
Fee Waiver/Expense Reimbursement(3)      (0.47 )%      (0.20 )% 
  

 

 

   

 

 

 
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement(4)      1.29     1.03

 

(1) A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.
(2) Other expenses are estimated for the current fiscal year.
(3) Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3 and Class R5 expenses do not exceed 1.25% and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.
(4) The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:

 

     1 Year      3 Years      5 Years      10 Years  
Class R3 Shares    $ 131       $ 508       $ 910       $ 2,034   
Class R5 Shares    $ 105       $ 371       $ 656       $ 1,471   

Explanation of Acquired Fund Fees and Expenses. "Acquired Fund Fees and Expenses" shown in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 50 – 51, for a clearer picture of the Fund's actual operating costs.

Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 48.09% of the average value of its portfolio. 

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination May 1, 2013
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over”) its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 48.09% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 48.09%
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Other expenses are estimated for the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading Example.
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:
Thornburg Strategic Income Fund | Class R3
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds or original purchase price, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 0.47% [1],[2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.04%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.76%
Fee Waiver/Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.47%) [3]
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement rr_NetExpensesOverAssets 1.29% [4]
1 Year rr_ExpenseExampleYear01 131
3 Years rr_ExpenseExampleYear03 508
5 Years rr_ExpenseExampleYear05 910
10 Years rr_ExpenseExampleYear10 2,034
Thornburg Strategic Income Fund | Class R5
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds or original purchase price, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.44% [1],[2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.04%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.23%
Fee Waiver/Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.20%) [3]
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement rr_NetExpensesOverAssets 1.03% [4]
1 Year rr_ExpenseExampleYear01 105
3 Years rr_ExpenseExampleYear03 371
5 Years rr_ExpenseExampleYear05 656
10 Years rr_ExpenseExampleYear10 1,471
Thornburg Investment Income Builder Fund
 
Risk/Return: rr_RiskReturnAbstract  
Supplement [Text Block] tit3_SupplementTextBlock

SUPPLEMENT

dated October 2, 2012

TO

THORNBURG FUNDS RETIREMENT PLAN SHARES PROSPECTUS

dated February 1, 2012 , as revised May 1, 2012

 

The disclosures on page 27 of the Prospectus, under the caption "Fees and Expenses of the Fund" for the Thornburg Investment Income Builder Fund, are deleted and replaced with the disclosures which appear below. The replacement disclosures presented in this Supplement for the Fund add the "Acquired Fund Fees and Expenses" line and figures to the Annual Fund Operating Expenses table below, resulting in an increase in the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement figure displayed for each share class. The described disclosures were inadvertently omitted from the Prospectus. This Supplement also provides an explanation of Acquired Fund Fees and Expenses in the narrative following the Example below.

 

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees

(fees paid directly from your investment)

 

   Class R3   Class R4   Class R5 
Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)
   none     none     none  
Maximum Deferred Sales Charge (Load)
(as a percentage of redemption proceeds or original purchase price, whichever is lower)
   none     none     none  

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

 

   Class R3  Class R4  Class R5 
Management Fees   0.71  0.71  0.71
Distribution and Service (12b-1) Fees   0.50  0.25  0.00
Other Expenses(1)   0.37  0.69  0.80
Acquired Fund Fees and Expenses   0.25  0.25  0.25
  

 

 

  

 

 

  

 

 

 
Total Annual Fund Operating Expenses   1.83  1.90  1.76
Fee Waiver/Expense Reimbursement(2)   (0.08)%   (0.25)%   (0.52)% 
  

 

 

  

 

 

  

 

 

 
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement(3)   1.75  1.65  1.24

 

(1)A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.
(2)Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3, Class R4 and Class R5 expenses do not exceed 1.50%, 1.40%, and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.
(3)The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.

Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:

 

   1 Year   3 Years   5 Years   10 Years 
Class R3 Shares  $178    $591    $1,029    $2,249  
Class R4 Shares  $168    $573    $1,003    $2,202  
Class R5 Shares  $126    $504    $906    $2,030  

Explanation of Acquired Fund Fees and Expenses. "Acquired Fund Fees and Expenses" shown in the table in the table in the left-hand column are expenses incurred indirectly by other investment companies, such as business development companies, in which the Fund may hold shares. These operating expenses are similar to the expenses paid by other businesses owned by the Fund, are not direct costs paid by Fund shareholders, and are not used to calculate the Fund's net asset value. These expenses have no impact on the costs associated with Fund operations. Regulatory rules require that the Acquired Fund Fees and Expenses be added to the actual operating expenses of the Fund, and that the total be shown in the bottom line of the Annual Fund Operating Expenses table in the left-hand column. Please see the expense figures shown in the Financial Highlights for the Fund, at pages 60 – 61, for a clearer picture of the Fund's actual operating costs.

Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over") its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 30.34% of the average value of its portfolio.

Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination May 1, 2013
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over”) its portfolio. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 30.34% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 30.34%
Expense Example [Heading] rr_ExpenseExampleHeading Example.
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, dividends and distributions are reinvested, and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions (and giving effect to fee waivers and expense reimbursements in the first year), your costs would be:
Thornburg Investment Income Builder Fund | Class R3
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds or original purchase price, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.71%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 0.37% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.25%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.83%
Fee Waiver/Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.08%) [5]
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement rr_NetExpensesOverAssets 1.75% [4]
1 Year rr_ExpenseExampleYear01 178
3 Years rr_ExpenseExampleYear03 591
5 Years rr_ExpenseExampleYear05 1,029
10 Years rr_ExpenseExampleYear10 2,249
Thornburg Investment Income Builder Fund | Class R4
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds or original purchase price, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.71%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.69% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.25%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.90%
Fee Waiver/Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.25%) [5]
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement rr_NetExpensesOverAssets 1.65% [4]
1 Year rr_ExpenseExampleYear01 168
3 Years rr_ExpenseExampleYear03 573
5 Years rr_ExpenseExampleYear05 1,003
10 Years rr_ExpenseExampleYear10 2,202
Thornburg Investment Income Builder Fund | Class R5
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of redemption proceeds or original purchase price, whichever is lower) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.71%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.80% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.25%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.76%
Fee Waiver/Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.52%) [5]
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement rr_NetExpensesOverAssets 1.24% [4]
1 Year rr_ExpenseExampleYear01 126
3 Years rr_ExpenseExampleYear03 504
5 Years rr_ExpenseExampleYear05 906
10 Years rr_ExpenseExampleYear10 2,030
[1] A portion of the Fund's expenses may be used to pay third parties that provide administrative and recordkeeping services to retirement accounts invested in the Fund.
[2] Other expenses are estimated for the current fiscal year.
[3] Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3 and Class R5 expenses do not exceed 1.25% and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.
[4] The figures for Total Fund Operating Expenses After Fee Waiver/Expense Reimbursement in this table have been restated to add amounts for "Acquired Fund Fees and Expenses," in accordance with regulatory rules. Acquired Fund Fees and Expenses vary with changes in the amount of the Fund's investments in investment companies and other factors. Please see the disclosure in the right-hand column under the caption "Explanation of Acquired Fund Fees and Expenses" for a further explanation.
[5] Thornburg Investment Management, Inc. ("Thornburg") and Thornburg Securities Corporation ("TSC") have contractually agreed to waive fees and reimburse expenses incurred by the Fund so that actual Class R3, Class R4 and Class R5 expenses do not exceed 1.50%, 1.40%, and 0.99%, respectively, not including the effects of Acquired Fund Fees and Expenses. The agreement to waive fees and reimburse expenses may be terminated by the Fund at any time, but may not be terminated by Thornburg or TSC before May 1, 2013, unless Thornburg or TSC ceases to be the investment advisor or distributor of the Fund prior to that date.
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Document and Entity Information
12 Months Ended
Feb. 01, 2012
Risk/Return:  
Document Type Other
Document Period End Date Sep. 30, 2011
Registrant Name THORNBURG INVESTMENT TRUST
Central Index Key 0000816153
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Document Effective Date Oct. 02, 2012
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Prospectus Date rr_ProspectusDate Feb. 01, 2012
Document Creation Date dei_DocumentCreationDate Oct. 02, 2012
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