Rolf Kelly, CFA, a managing director of Thornburg, has been the portfolio manager of the Fund since its inception. Mr. Kelly joined Thornburg in 2007 as an equity research analyst and was named associate portfolio manager in 2011 and a managing director in 2013.

Mr. Kelly previously worked as a reservoir engineer for a major integrated petroleum company, managing oil and gas fields in South Texas, the Rocky Mountains, and the North Slope of Alaska.

Mr. Kelly holds an MBA from Duke University’s Fuqua School of Business and a BA in Geological Engineering from the Colorado School of Mines.