Date: Fri, 19 Dec 1997 15:58:30 GMT Server: Stronghold/1.3.4 Ben-SSL/1.3 Apache/1.1.3 Content-type: text/html Content-length: 4669 Last-modified: Fri, 17 Oct 1997 22:24:01 GMT Thornburg: Fund Highlights
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Quarterly Reviews

Single State Funds Volume 3, October 1997. Single State Funds offer investors double tax-free* yields in a laddered portfolio with short (5 year average or less) and intermediate (10 year average or less) time frames.

Municipal Funds Volume 3, October 1997. The Funds invest in a laddered portfolio of municipal bonds from throughout the U.S. with an average maturity of five years or less in the Limited Term Municipal Fund, and ten years or less in the Intermediate Municipal Fund.

Taxable Funds Volume 3, October 1997. The Funds invest in laddered portfolios of short/intermediate obligations with an average maturity of 5 years or less.

Value Fund Volume 3, October 1997. This fund invests in a limited number (normally 25 to 35) of companies selcted on a "value basis" using traditional fundamental research evaluation methods. The Fund will invest in traditional cyclical companies, consistent growing companies, and companies representing an emerging franchise.

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Thornburg Funds
119 E. Marcy Street, Santa Fe, New Mexico 87501
(800) 847-0200

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