Thornburg Expands Equity Platform with Small/Mid-Cap Strategies and Addition of Veteran Portfolio Managers

Rhea-AI Summary

Thornburg Investment Management, managing $46 billion in assets, has named Steven Klopukh and Tim McCarthy as managing directors and portfolio managers. Both possess nearly two decades of experience in small- and mid-cap investments, previously working at Allianz Global Investors. They will enhance Thornburg's equity research in the SMID asset class and manage the Thornburg Small/Mid Cap Growth Fund (Ticker: THIGX) and the Thornburg Small/Mid Cap Core Fund (Ticker: TVIFX), which manage $770 million and $822 million respectively.

Positive

• Addition of experienced portfolio managers enhances Thornburg's equity strategy.
• Expansion into small- and mid-cap investment strategies increases market reach.
• Assets under management exceeding $46 billion support firm stability.

Negative

• None.

SANTA FE, N.M., Feb. 24, 2021 /PRNewswire/ -- Thornburg Investment Management ("Thornburg"), a global investment firm that oversees $46 billion in assets¹, today announced that Steven Klopukh, CFA, and Tim McCarthy, CFA, have joined the firm as portfolio managers and managing directors. Messrs. Klopukh and McCarthy oversee two small- and mid-cap ("SMID") equity mutual funds and plan to introduce SMID managed account and model delivery capabilities.

Messrs. Klopukh and McCarthy each have nearly two decades of SMID investment experience and worked together at Allianz Global Investors since the mid-2000s. Prior to Thornburg, Mr. Klopukh spent 18 years at Allianz, most recently as director and lead portfolio manager on the U.S. Small- & Mid-Cap Growth team. Mr. McCarthy spent 17 years at Allianz, where he was senior portfolio manager and director, with research responsibilities for the U.S. Small- & Mid-Cap Growth team. He was also a portfolio manager and analyst on the Small-Cap team and a member of the Quantitative Analytics & Risk Strategy group. Together, they broaden Thornburg's fundamental, bottom-up equity research capabilities into the SMID asset class, providing significant opportunities to active investors.

"We are excited to welcome Steven and Tim to Thornburg," said President and CEO Jason Brady. "We are continually investing in talent with proven expertise to expand our platform of strategies and deliver active solutions to our clients."

Messrs. Klopukh and McCarthy share portfolio management responsibilities on the Thornburg Small/Mid Cap Growth Fund (Ticker: THIGX), which has $770 million in assets as of December 31, 2020. Mr. Klopukh also serves as portfolio manager on the Thornburg Small/Mid Cap Core Fund (Ticker: TVIFX), which has $822 million in assets as of December 31, 2020. Both Messrs. Klopukh and McCarthy report to Thornburg co-heads of investments Ben Kirby and Jeff Klingelhofer and are supported by the entire Thornburg investment team.

"Tim and I are delighted to join an investment-led organization," said Mr. Klopukh. "Thornburg is well known for its thoughtful set of investment solutions that encompass active investing and a fundamental approach. We admire the rigorous and repeatable process that delivers positive outcomes to global investors."

Steven Klopukh, CFA

Steven Klopukh joined Thornburg Investment Management in 2020 as a portfolio manager to lead Thornburg's small- and mid-cap investment strategies.

Prior to Thornburg, Steven worked at Allianz Global Investors, where he spent 18 years, most recently as a director and lead portfolio manager on the U.S. Small- & Mid-Cap Growth team. While at Allianz Global Investors, Steven managed the top-performing AllianzGI Mid-Cap Fund as lead portfolio manager since 2014. With over 20 years of investment industry experience, Steven was also vice president and fundamental equity analyst at CDC Investment Management Corp., where he collaborated on quantitatively enhanced, risk targeted large-cap core and market-neutral equity strategies. Before that, he was in the investment banking associate program at Morgan Stanley Dean Witter, where he was involved in M&A, debt and equity capital raising, and consumer products corporate finance.

Steven has a BS, magna cum laude, from Fairleigh Dickinson University and an MBA with honors from the University of Chicago. He is also a CFA charterholder.

Tim McCarthy, CFA

Tim McCarthy joined Thornburg Investment Management in 2020 as a portfolio manager to co-manage Thornburg's small- and mid-cap investment growth strategies.

Prior to Thornburg, Tim spent 17 years at Allianz Global Investors, where he was senior portfolio manager and director, with research responsibilities for the U.S. Small- & Mid-Cap Growth team. He was also a portfolio manager and analyst on the Small-Cap team and a member of the Quantitative Analytics & Risk Strategy group. His extensive investment-industry experience includes serving as a portfolio product specialist at FactSet Research Systems, where he held responsibilities for portfolio construction, risk analysis, and performance.

Tim holds a BS in business administration with a concentration in finance from the University of Vermont. He is a CFA charterholder and a member of the CFA Society of San Francisco. 

About Thornburg

Founded in 1982, Thornburg Investment Management is a privately-owned global investment firm that offers a range of multi-strategy solutions for institutions and financial advisors. A recognized leader in fixed income, equity and alternatives investing, the firm oversees $46 billion¹ as of January 31, 2021 across mutual funds, institutional accounts, separate accounts for high-net-worth investors and UCITS funds for non-U.S. investors. Thornburg is headquartered in Santa Fe, New Mexico, with additional offices in London, Hong Kong and Shanghai.

At Thornburg, we believe unconstrained investing leads to better outcomes for our clients. Our culture is collaborative, and our investment solutions are highly active, high conviction and benchmark agnostic. When it comes to finding value for our clients, it's more than what we do, it's how we do it: how we think, how we invest and how we're structured.

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

Past performance is no guarantee of future results.

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. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

Before investing, carefully consider the Fund's investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit thornburg.com. Read them carefully before investing.

Thornburg mutual funds are distributed by Thornburg Securities Corporation.

¹ Includes $44 billion in assets under management and $1.8 billion in assets under advisement as of January 31, 2021

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SOURCE Thornburg Investment Management

FAQ

Who are the new portfolio managers at Thornburg Investment Management?

Thornburg has appointed Steven Klopukh and Tim McCarthy as new portfolio managers.

What funds will Klopukh and McCarthy manage?

They will manage the Thornburg Small/Mid Cap Growth Fund (THIGX) and the Thornburg Small/Mid Cap Core Fund (TVIFX).

What is the current asset size of the Thornburg Small/Mid Cap Growth Fund?

As of December 31, 2020, the Thornburg Small/Mid Cap Growth Fund has $770 million in assets.

How much does Thornburg Investment Management oversee in total?

Thornburg Investment Management oversees $46 billion in assets as of January 31, 2021.

What is Thornburg's focus in investment management?

Thornburg focuses on active investment strategies with a fundamental approach in various asset classes.