LTMIX Fees and Costs — Thornburg Limited Term Municipal Fund, Class I
Data updated: 2026-08-24
The net expense ratio is 0.53%: a 0.35% management fee plus 0.18% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 31%.
LTMIX Fees and Expenses
Annual operating expenses and sales charges of LTMIX. Prospectus, as of January 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.53% |
| Fee waiver | — |
| Net expense ratio | 0.53% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
LTMIX Costs Over Time
On $10,000 invested in LTMIX, assuming 5% a year before costs, total costs come to $335 over 5 years, cutting the return by 0.56% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.53%) | $56 | $174 | $304 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $56 | $183 | $335 |
| Value after costs | $10,444 | $11,393 | $12,428 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
LTMIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $8.8B
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
LTMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2.8B | 35.83% |
| State Street Bank and Trust Company | $1.5B | 19.47% |
| Barclays Capital Inc. | $1.0B | 12.98% |
| BMO Capital Markets Corp. | $649.3M | 8.20% |
| Wells Fargo Securities, LLC | $488.9M | 6.17% |
| Morgan Stanley & Co. LLC | $338.8M | 4.28% |
| Nomura Securities International, Inc. | $313.3M | 3.96% |
| RBC Capital Markets, LLC | $262.8M | 3.32% |
| Goldman Sachs & Co. LLC | $236.5M | 2.99% |
| BNY Capital Markets, LLC | $223.0M | 2.81% |
Thornburg Limited Term Municipal Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LTMIX | Class I | 0.53% | none |
| LTMFX | Class A | 0.78% | 2.25% |
| LTMCX | Class C | 1.08% | none |
| LTMQX | Class C2 | 1.32% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.