THMGX Fees and Costs — Thornburg Emerging Markets Managed Account Fund, Class SMA
Data updated: 2026-08-24
The net expense ratio is 0.00% (15.87% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.2578% of average net assets, and portfolio turnover was 78%.
THMGX Fees and Expenses
Annual operating expenses and sales charges of THMGX. Prospectus, as of January 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 15.87% |
| Gross expense ratio | 15.87% |
| Fee waiver | −15.87% |
| Net expense ratio | 0.00% |
| 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 | No |
THMGX Costs Over Time
On $10,000 invested in THMGX, assuming 5% a year before costs, total costs come to $164 over 5 years, cutting the return by 0.27% 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 0.00%) | $0 | $0 | $0 |
| Trading costs (broker commissions) | $27 | $85 | $149 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $27 | $89 | $164 |
| Value after costs | $10,473 | $11,487 | $12,599 |
| Impact on return, per year | 0.27% | 0.27% | 0.27% |
THMGX 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): 0.2578%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $1.4M
- Portfolio turnover (prospectus): 78%
- Securities lending: none during the year
THMGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $680 | 25.53% |
| Morgan Stanley & Co. LLC | $512 | 19.25% |
| Goldman Sachs & Co. LLC | $511 | 19.19% |
| CLSA Americas, LLC | $218 | 8.20% |
| BNY Capital Markets, LLC | $178 | 6.70% |
| HSBC Securities (USA) Inc. | $168 | 6.31% |
| Kotak Securities Limited | $152 | 5.70% |
| Jefferies LLC | $106 | 3.99% |
| BofA Securities, Inc. | $68 | 2.57% |
| Citigroup Global Markets Inc. | $68 | 2.57% |
THMGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.4M | 99.49% |
| Kotak Securities Limited | $7K | 0.51% |
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.