SANTA FE, N.M.,
Aug. 20,
2024 /PRNewswire/ -- Thornburg Investment Management,
Inc. ("Thornburg"), a global investment firm that oversees
$46 billion in client
assets1, today announced that Portfolio Manager and
Managing Director Matt Burdett has
been named Head of Equities and Portfolio Manager and Managing
Director Christian Hoffmann has been
named Head of Fixed Income, both reporting to CEO Mark Zinkula.
Messrs. Burdett and Hoffmann replace Co-Heads of Investments Ben
Kirby and Jeff Klingelhofer, who
will step down from their portfolio management duties on
August 30, 2024, and after a
transition period, step down from their roles as co-heads of
investments and depart the company on September 30, 2024. Mr. Kirby's portfolio
management duties include a publicly traded fund, Thornburg
Income Builder Opportunities Trust (Ticker: TBLD).
"I'm confident that Matt and Christian's nearly 25 years of
combined experience at Thornburg will help propel the next phase of
growth at the company and deepen our team's alignment with
clients," said CEO Mark Zinkula. "In
their new roles, Matt and Christian will continue to spend the
majority of their time engaged in day-to-day investment
decision-making and portfolio management responsibilities. I want
to thank Ben and Jeff for their leadership and contributions to the
company over the past five years in their roles as co-heads of
investments and wish them well in their future endeavors."
Effective August 30, 2024,
Associate Portfolio Manager Neal
BasuMullick will be promoted to Portfolio Manager and
Managing Director, and along with Portfolio Manager and Managing
Director Lon Erickson, will be added
as co-portfolio managers of the Thornburg Summit Fund.
In their new roles, Messrs. Burdett and Hoffmann continue to
serve as portfolio managers on multiple Thornburg investment
strategies. Mr. Burdett leads a team that oversees a suite of
global, emerging markets, small- and mid-cap and multi-asset equity
solutions. Mr. Hoffmann's team manages both taxable and tax-exempt
global fixed income strategies.
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1 Includes
$44.5 billion in assets under management and $1.2 billion in assets
under advisement as of July 31, 2024.
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Biographies
Matt Burdett is head
of equities and a portfolio manager for Thornburg Investment
Management. He rejoined the firm in 2015 as an associate portfolio
manager. Matt was named a managing director and was promoted to
portfolio manager in 2018 and to head of equities in 2024. Matt
spent several years as a senior vice president and portfolio
manager at PIMCO, where he co-managed various dividend-oriented
strategies. Prior to his time at PIMCO, Matt worked from 2010 to
2011 as an equity analyst at Thornburg.
Matt was director of healthcare investment banking at CIBC World
Markets / Oppenheimer prior to joining Thornburg in 2010. Earlier
in his career, he was a medicinal chemist at Sunesis
Pharmaceuticals. Matt holds an MBA from the Marshall School of
Business at the University of Southern
California and a bachelor's degree in chemistry from the
University of California, Berkeley.
Christian Hoffmann,
CFA, is head of fixed income and a portfolio manager for
Thornburg Investment Management. He joined the firm in 2012 as a
fixed income securities analyst and was promoted to associate
portfolio manager in 2014. Christian was named a managing director
in 2017, was promoted to portfolio manager in 2018 and to head of
fixed income in 2024.
Prior to joining Thornburg, Christian served as a senior credit
analyst with H.I.G. Capital in Miami,
Florida, where he specialized in distressed debt investments
and credit driven special situations. He began his career in the
investment banking division of Lehman Brothers and later spent
several years working on the high yield research desk at the firm.
Christian holds a bachelor's degree in economics from New York University. He is a CFA charterholder.
Lon Erickson, CFA, is
portfolio manager for Thornburg Investment Management. He joined
Thornburg in 2008 and was named a managing director and was
promoted to portfolio manager in 2010.
Prior to joining Thornburg Investment Management, Lon spent
almost 11 years as an analyst for State Farm Insurance in the
equity and corporate bond departments. Lon earned a bachelor's
degree in business administration from Illinois Wesleyan University and an MBA from the
University of Chicago Booth School of
Business. He is a CFA charterholder.
Neal BasuMullick, CFA, is an associate portfolio
manager for Thornburg Investment Management. He joined the firm in
2020 as an equity research analyst, was promoted to senior equity
analyst then associate portfolio manager in 2022.
Prior to joining Thornburg, Neal worked in equity research at
Columbia Threadneedle Investments where he covered the business
services and consumer staples industries and on the sell side at
J.P. Morgan where he gained experience in the pharmaceutical and
several cyclical industries. Neal holds a BA with honors in
economics from Cornell University
College of Arts & Sciences. He is a CFA charterholder.
About Thornburg
Thornburg is a global investment firm delivering on strategy for
institutions, financial professionals, and investors worldwide. The
privately held firm, founded in 1982, is an active manager of
equities, fixed income, and multi-asset solutions. With
$46 billion in client
assets1 as of July 31,
2024, the firm offers mutual funds, closed-end funds,
institutional accounts, separate accounts and UCITS funds for
non-U.S. investors.
As an independent firm, Thornburg can take on a wide range of
opportunities, explore ideas thoroughly and work across strategies
to deliver consistent risk-adjusted outperformance over the long
term. The firm attracts free-thinking professionals who are eager
to pursue investment outcomes beyond the confines of popular
wisdom. From nimble operational capabilities to principles and
actions fitting of a global citizen, Thornburg's world-class
investment platform and team are aligned on strategy to serve
investors.
Thornburg's U.S. headquarters is in Santa Fe, New Mexico with an additional office
in Hong Kong. For more
information, visit www.thornburg.com or call (877) 215-1330.
Media Inquiries
Michael
Corrao
Director of Global Communications
Thornburg Investment Management
Tel: +1 (505) 467-5345
Email: mcorrao@thornburg.com
Investments carry risks, including possible loss of principal.
Additional risks may be associated with investments outside
the United States, especially in
emerging markets, including currency fluctuations, illiquidity,
volatility, and political and economic risks. Investments in small-
and mid-capitalization companies may increase the risk of greater
price fluctuations. Portfolios investing in bonds have the same
interest rate, inflation, and credit risks that are associated with
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changes in interest rates, decreasing when interest rates rise.
Investments in the Fund are not FDIC insured, nor are they bank
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in which such offer, solicitation or sale would be unlawful prior
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Certain statements in this press release constitute
forward-looking statements, which involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
levels of activity, performance or achievements of the Trust, or
industry results, to be materially different from any future
results, levels of activity, performance or achievements expressed
or implied by such forward-looking statements. As a result, no
assurance can be given as to future results, levels of activity,
performance or achievements, and neither the Trust nor any other
person assumes responsibility for the accuracy and completeness of
such statements in the future.
Risk is inherent in all investing. There can be no assurance
that the Trust will achieve its investment objective, and you could
lose some or all of your investment.
Thornburg Securities LLC, member FINRA, is a wholly owned
subsidiary of Thornburg Investment Management, Inc.
NOT FDIC INSURED NO
BANK GUARANTEE MAY LOSE VALUE
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SOURCE Thornburg Investment Management