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Rating:Thornburg Preps SMID Products Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, March 17, 2021

Thornburg Preps SMID Products

Reported by Andrew Lusk

The team at a Southwestern investment management firm is shaking things up with two new hires, prepping new SMAs and Models. The firm has also updated its board.

Julia W. Sze
Thornburg Investment Management
Independent Director
The Thornburg Investment Management [profile] folks are working on SMID (small/mid-cap) equity separately managed account and model portfolio capabilities, a spokesperson for the company tells MFWire. That follows the hiring last of two Allianz Global Investors alumni, Tim McCarthy and Steven Klopukh, as portfolio managers at Santa Fe, New Mexico-based Thornburg.

Robin Pertusi, a spokesperson at Allianz, confirmed that the pair left last June and that Jeff Parker, chief investment officer in U.S. equities, has "absorbed responsibilities for [their] products."

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

McCarthy and Klopukh now manage the Thornburg Small/Mid Cap Growth Fund (THIGX), which had $770 million in AUM as of December 31. Klopukh also serves as portfolio manager on the Thornburg Small/Mid Cap Core Fund (TVIFX), which has $822 million in assets as of December 31, 2020. Both Klopukh and McCarthy report to Thornburg co-heads of investments Ben Kirby and Jeff Klingelhofer.

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

Also last month, Thornburg brought in Santa Fe-based impact investor Julia Sze as an independent director on the firm's board. Sze stated, "I have long admired Thornburg’s focus on client success and long track record of delivering on the promise of active management."

Garrett Thornburg, chairman and founder of the firm, said of Sze's hire, "We are pleased to welcome Julia to the Thornburg Board of Directors. With over three decades of global investment experience and a demonstrated commitment to sustainable investing as a chief investment officer and active impact investor, we are confident that Julia’s perspective, insight and judgement underscore our commitment to clients and effective governance."

Sze added, "I look forward to working with Garrett and the other board members to help Thornburg continue building on a nearly four-decade history of investment excellence."

At Allianz, McCarthy most recently served in a similar role, as director and senior portfolio manager for small and mid-cap equities. He began working there in 2003. Before his time with both companies, McCarthy was with FactSet Research Systems from 1998 to 2003. He is an alumnus of the University of Vermont.

As for Klopukh, he spent most of his time at Allianz as a director and lead portfolio manager in small and mid-cap equities. He joined the company in 2002. Prior to his work with Allianz and Thornburg, Klopuch was with IXIS Asset Management from 1999 to 2001. He is an alumnus of the Fairleigh Dickinson University-Metropolitan Campus and the University of Chicago Booth School of Business. 

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