SUPPLEMENT DATED JULY 18, 2011 TO THORNBURG FUNDS PROSPECTUS DATED
FEBRUARY 1, 2011, THORNBURG RETIREMENT PLAN SHARES PROSPECTUS DATED
FEBRUARY 1, 2011, THORNBURG INVESTMENT TRUST'S STATEMENT OF ADDITIONAL
INFORMATION DATED FEBRUARY 1, 2011, AND THORNBURG INVESTMENT TRUST'S
STATEMENT OF ADDITIONAL INFORMATION FOR RETIREMENT PLAN SHARES DATED
FEBRUARY 1, 2011.

Effective July 18, 2011 Cliff Remily concluded his service as co-portfolio
manager of Thornburg Investment Income Builder Fund.  Brian J. McMahon and
Jason Brady continue to serve as co-portfolio managers for the Fund.