THORNBURG INVESTMENT TRUST
NSAR-A, 1997-05-28
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<PAGE>      PAGE  1
000 A000000 03/31/97
000 C000000 0000816153
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THORNBURG INVESTMENT TRUST
001 B000000 811-5201
001 C000000 5059840200
002 A000000 119 EAST MARCY STREET SUITE 202
002 B000000 SANTA FE
002 C000000 NM
002 D010000 87501
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  6
007 C010100  1
007 C020100 THORNBURG LIMITED TERM U.S. GOVERNMENT FUND
007 C030100 N
007 C010200  2
007 C020200 THORNBURG NEW MEXICO INTERMEDIATE MUNI FUND
007 C030200 N
007 C010300  3
007 C020300 THORNBURG INTERMEDIATE MUNICIPAL FUND
007 C030300 N
007 C010400  4
007 C020400 THORNBURG LIMITED TERM INCOME FUND
007 C030400 N
007 C010500  5
007 C020500 THORNBURG VALUE FUND
007 C030500 N
007 C010600  6
007 C020600 THORNBURG FLORIDA INTERMEDIATE MUNI FUND
007 C030600 N
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 THORNBURG MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-17853
008 D01AA01 SANTA FE
008 D02AA01 NM
008 D03AA01 87501
011 A00AA01 THORNBURG SECURITIES CORPORATION
<PAGE>      PAGE  2
011 B00AA01 8-31249
011 C01AA01 SANTA FE
011 C02AA01 NM
011 C03AA01 87501
013 A00AA01 MCGLADREY & PULLEN
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
013 B04AA01 2146
015 A00AA01 STATE STREET BANK & TRUST
015 B00AA01 C
015 C01AA01 NORTH QUINCY
015 C02AA01 MA
015 C03AA01 02171
015 E06AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    8
019 C00AA00 -THORNBURG
020 A000001 RESEARCH CAPITAL CORP
020 B000001 98-0104171
020 C000001      6
020 A000002 ALEX BROWN & SONS
020 B000002 52-1319768
020 C000002      5
020 A000003 PAINE WEBBER INC
020 B000003 13-2638166
020 C000003      5
020 A000004 RAYMOND JAMES
020 B000004 59-1237041
020 C000004      5
020 A000005 CS FIRST BOSTON
020 B000005 13-5659485
020 C000005      4
020 A000006 MERRILL LYNCH PIERCE FENNER
020 B000006 13-5674085
020 C000006      4
020 A000007 A.G. EDWARDS
020 B000007 43-0895447
020 C000007      4
020 A000008 PRUDENTIAL SECURITIES
020 B000008 22-2347336
020 C000008      3
020 A000009 LEHMAN BROS.
020 B000009 13-2726611
020 C000009      3
020 A000010 MCDONALD & CO.
020 B000010 34-1391952
020 C000010      3
021  000000       76
022 A000001 MERRILL LYNCH
<PAGE>      PAGE  3
022 B000001 13-5674085
022 C000001     60289
022 D000001      1215
022 A000002 PAINE WEBBER
022 B000002 13-2638166
022 C000002     26717
022 D000002     22833
022 A000003 GRUNTAL & CO
022 B000003 13-3201805
022 C000003     14223
022 D000003      1070
022 A000004 PRUDENTIAL SECURITIES
022 B000004 22-2347336
022 C000004      9908
022 D000004      4943
022 A000005 MORGAN STANLEY
022 B000005 13-2655998
022 C000005      7102
022 D000005      7400
022 A000006 JP MORGAN SECURITIES
022 B000006 13-3224016
022 C000006      4144
022 D000006      7584
022 A000007 BT SECURITIES
022 B000007 13-3311934
022 C000007      4900
022 D000007      4900
022 A000008 DONALDSON LUFKIN
022 B000008 13-2741729
022 C000008      6980
022 D000008      1634
022 A000009 A.G. EDWARDS & SONS
022 B000009 43-0895447
022 C000009      4162
022 D000009      3010
022 A000010 NUVEEN (JOHN)
022 B000010 36-2639476
022 C000010      5400
022 D000010      1100
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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<PAGE>      PAGE  20
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028 H000500      9769
029  000500 Y
030 A000500    382
030 B000500  4.50
030 C000500  0.00
031 A000500     47
031 B000500      0
032  000500    335
033  000500      0
034  000500 Y
035  000500      0
036 A000500 Y
036 B000500      0
042 A000500   0
042 B000500   0
042 C000500   0
042 D000500 100
<PAGE>      PAGE  21
042 E000500   0
042 F000500   0
042 G000500   0
042 H000500   0
043  000500     45
044  000500      0
045  000500 Y
046  000500 N
047  000500 Y
048  000500  0.000
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048 A020500 0.875
048 B010500   500000
048 B020500 0.825
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048 C020500 0.775
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048 D020500 0.725
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048 I010500        0
048 I020500 0.000
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048 J020500 0.000
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048 K020500 0.675
062 A000500 N
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062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
062 K000500   0.0
062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
062 O000500   0.0
062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
063 A000500   0
<PAGE>      PAGE  22
063 B000500  0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 Y
066 F000500 N
066 G000500 N
067  000500 N
068 A000500 N
068 B000500 N
069  000500 N
071 A000500     33986
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072 A000500  6
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<PAGE>      PAGE  23
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074 V020500     0.00
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074 Y000500        0
075 A000500        0
075 B000500    28611
076  000500     0.00
028 A010600      1891
028 A020600        40
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028 B020600        41
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028 D010600      1620
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028 D040600     20753
<PAGE>      PAGE  24
028 E010600       434
028 E020600        42
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028 E040600       199
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028 F040600      2024
028 G010600     26347
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028 G040600     23495
028 H000600      3117
029  000600 Y
030 A000600     70
030 B000600  3.50
030 C000600  0.00
031 A000600      9
031 B000600      0
032  000600     61
033  000600      0
034  000600 N
035  000600      0
036 B000600      0
042 A000600   0
042 B000600   0
042 C000600   0
042 D000600 100
042 E000600   0
042 F000600   0
042 G000600   0
042 H000600   0
043  000600     26
044  000600      0
045  000600 Y
046  000600 N
047  000600 Y
048  000600  0.000
048 A010600   500000
048 A020600 0.500
048 B010600   500000
048 B020600 0.450
048 C010600   500000
048 C020600 0.400
048 D010600   500000
048 D020600 0.350
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048 E020600 0.000
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048 F020600 0.000
048 G010600        0
<PAGE>      PAGE  25
048 G020600 0.000
048 H010600        0
048 H020600 0.000
048 I010600        0
048 I020600 0.000
048 J010600        0
048 J020600 0.000
048 K010600  2000000
048 K020600 0.275
062 A000600 Y
062 B000600   0.0
062 C000600   0.0
062 D000600   0.5
062 E000600   0.0
062 F000600   0.0
062 G000600   0.0
062 H000600   0.0
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062 J000600   0.0
062 K000600   0.0
062 L000600   0.0
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062 N000600   0.0
062 O000600  99.5
062 P000600   0.0
062 Q000600   0.0
062 R000600   0.0
063 A000600   0
063 B000600  6.6
064 A000600 Y
064 B000600 N
066 A000600 N
067  000600 N
068 A000600 N
068 B000600 N
069  000600 N
071 A000600     12929
071 B000600     10308
071 C000600     21458
071 D000600   48
072 A000600  6
072 B000600      614
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072 J000600       10
072 K000600        0
<PAGE>      PAGE  26
072 L000600        0
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072 T000600       26
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072 X000600      124
072 Y000600       36
072 Z000600      526
072AA000600        0
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072CC010600        0
072CC020600       48
072DD010600      526
072DD020600        0
072EE000600        0
073 A010600   0.2800
073 A020600   0.0000
073 B000600   0.0000
073 C000600   0.0000
074 A000600      121
074 B000600        0
074 C000600      100
074 D000600    21975
074 E000600        0
074 F000600        0
074 G000600        0
074 H000600        0
074 I000600        0
074 J000600        0
074 K000600       36
074 L000600      450
074 M000600        1
074 N000600    22683
074 O000600        0
074 P000600       42
074 Q000600        0
074 R010600        0
074 R020600        0
074 R030600        0
074 R040600       93
074 S000600        0
074 T000600    22548
074 U010600     1898
074 U020600        0
<PAGE>      PAGE  27
074 V010600    11.88
074 V020600     0.00
074 W000600   0.0000
074 X000600      493
074 Y000600        0
075 A000600        0
075 B000600    22763
076  000600     0.00
SIGNATURE   VAN J. BILLOPS                               
TITLE       ASSOCIATE           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND - CLASS A
       
<S>                             <C>
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<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND - CLASS C
       
<S>                             <C>
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<PAID-IN-CAPITAL-COMMON>                   146,533,998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND - CLASS I
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<APPREC-INCREASE-CURRENT>                  (1,102,012)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (3,706)
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-REDEEMED>                   (73,245)
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<ACCUMULATED-NII-PRIOR>                              0
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<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                717,334
<AVERAGE-NET-ASSETS>                       143,268,970
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<PER-SHARE-NII>                                    .40  
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 2
   <NAME> THORNBURG NEW MEXICO INTERMEDIATE MUNICIPAL FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
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<INVESTMENTS-AT-VALUE>                     129,242,600
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   127,651,352
<SHARES-COMMON-STOCK>                       10,061,662
<SHARES-COMMON-PRIOR>                       10,030,551
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                               131,287,441
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (652,809)
<NET-INVESTMENT-INCOME>                      3,230,775
<REALIZED-GAINS-CURRENT>                        38,255
<APPREC-INCREASE-CURRENT>                    (452,671)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (3,230,775)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        957,983
<NUMBER-OF-SHARES-REDEEMED>                (1,084,747)
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<NET-CHANGE-IN-ASSETS>                        (19,487)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (757,512)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                683,288
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<PER-SHARE-GAIN-APPREC>                          (.04)
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<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                      260,168,983
<INVESTMENTS-AT-VALUE>                     270,351,499
<RECEIVABLES>                                5,321,198
<ASSETS-OTHER>                                 131,549
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             275,804,246
<PAYABLE-FOR-SECURITIES>                     2,447,989
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,001,377
<TOTAL-LIABILITIES>                          3,449,366
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   265,661,837
<SHARES-COMMON-STOCK>                       19,686,811
<SHARES-COMMON-PRIOR>                       18,610,208
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,489,473)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    10,182,516
<NET-ASSETS>                               272,354,880
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            7,936,285
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,324,951)
<NET-INVESTMENT-INCOME>                      6,611,334
<REALIZED-GAINS-CURRENT>                         6,848
<APPREC-INCREASE-CURRENT>                  (1,242,167)
<NET-CHANGE-FROM-OPS>                        5,376,015
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (6,380,927)
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-REDEEMED>                (1,340,900)
<SHARES-REINVESTED>                            284,747
<NET-CHANGE-IN-ASSETS>                      13,141,692 
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (3,496,321)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          655,323
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,417,927
<AVERAGE-NET-ASSETS>                       263,319,408
<PER-SHARE-NAV-BEGIN>                            13.23
<PER-SHARE-NII>                                    .33
<PER-SHARE-GAIN-APPREC>                          (.06)
<PER-SHARE-DIVIDEND>                             (.33)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.17
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND - CLASS C
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                      260,168,983
<INVESTMENTS-AT-VALUE>                     270,351,499
<RECEIVABLES>                                5,321,198
<ASSETS-OTHER>                                 131,549
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             275,804,246
<PAYABLE-FOR-SECURITIES>                     2,447,989
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,001,377
<TOTAL-LIABILITIES>                          3,449,366
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   265,661,837
<SHARES-COMMON-STOCK>                          724,056
<SHARES-COMMON-PRIOR>                          572,818
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,489,473)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    10,182,516
<NET-ASSETS>                               272,354,880
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            7,936,285
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,324,951)
<NET-INVESTMENT-INCOME>                      6,611,334
<REALIZED-GAINS-CURRENT>                         6,848
<APPREC-INCREASE-CURRENT>                  (1,242,167)
<NET-CHANGE-FROM-OPS>                        5,376,015
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (192,230)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        223,280
<NUMBER-OF-SHARES-REDEEMED>                   (83,434)
<SHARES-REINVESTED>                             11,392
<NET-CHANGE-IN-ASSETS>                       1,962,256 
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (3,496,321)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          655,323
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,417,927
<AVERAGE-NET-ASSETS>                       263,319,408
<PER-SHARE-NAV-BEGIN>                            13.24
<PER-SHARE-NII>                                    .31
<PER-SHARE-GAIN-APPREC>                          (.05)
<PER-SHARE-DIVIDEND>                             (.31)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.19
<EXPENSE-RATIO>                                   1.40
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND - CLASS I
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                      260,168,983
<INVESTMENTS-AT-VALUE>                     270,351,499
<RECEIVABLES>                                5,321,198
<ASSETS-OTHER>                                 131,549
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             275,804,246
<PAYABLE-FOR-SECURITIES>                     2,447,989
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,001,377
<TOTAL-LIABILITIES>                          3,449,366
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   265,661,837
<SHARES-COMMON-STOCK>                          268,952
<SHARES-COMMON-PRIOR>                           52,065
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,489,473)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    10,182,516
<NET-ASSETS>                               272,354,880
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            7,936,285
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (1,324,951)
<NET-INVESTMENT-INCOME>                      6,611,334
<REALIZED-GAINS-CURRENT>                         6,848
<APPREC-INCREASE-CURRENT>                  (1,242,167)
<NET-CHANGE-FROM-OPS>                        5,376,015
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (38,177)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        610,893
<NUMBER-OF-SHARES-REDEEMED>                  (395,740)
<SHARES-REINVESTED>                              1,734
<NET-CHANGE-IN-ASSETS>                       2,849,063 
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (3,496,321)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          655,323
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,417,927
<AVERAGE-NET-ASSETS>                       263,319,408
<PER-SHARE-NAV-BEGIN>                            13.23
<PER-SHARE-NII>                                    .36
<PER-SHARE-GAIN-APPREC>                          (.08)
<PER-SHARE-DIVIDEND>                             (.36)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.15
<EXPENSE-RATIO>                                    .69
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       33,430,262
<INVESTMENTS-AT-VALUE>                      33,830,860
<RECEIVABLES>                                  759,038
<ASSETS-OTHER>                                 109,679
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              34,699,577         
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      179,330      
<TOTAL-LIABILITIES>                            179,330      
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    34,984,689
<SHARES-COMMON-STOCK>                        2,262,691        
<SHARES-COMMON-PRIOR>                        1,916,192
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (865,021)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       400,598
<NET-ASSETS>                                34,520,247
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,095,981       
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (158,494)       
<NET-INVESTMENT-INCOME>                        937,487
<REALIZED-GAINS-CURRENT>                        13,864     
<APPREC-INCREASE-CURRENT>                    (313,704)      
<NET-CHANGE-FROM-OPS>                          637,647      
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (779,861)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        486,550
<NUMBER-OF-SHARES-REDEEMED>                  (174,990)
<SHARES-REINVESTED>                             34,939
<NET-CHANGE-IN-ASSETS>                       4,052,513
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (875,031)        
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<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           75,802
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                218,874
<AVERAGE-NET-ASSETS>                        30,566,875          
<PER-SHARE-NAV-BEGIN>                            12.23
<PER-SHARE-NII>                                    .38
<PER-SHARE-GAIN-APPREC>                          (.08)   
<PER-SHARE-DIVIDEND>                             (.38)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0    
<PER-SHARE-NAV-END>                              12.15     
<EXPENSE-RATIO>                                   1.00   
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND - CLASS C
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       33,430,262
<INVESTMENTS-AT-VALUE>                      33,830,860
<RECEIVABLES>                                  759,038
<ASSETS-OTHER>                                 109,679
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              34,699,577         
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      179,330      
<TOTAL-LIABILITIES>                            179,330      
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    34,984,689
<SHARES-COMMON-STOCK>                          409,862        
<SHARES-COMMON-PRIOR>                          220,909
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (865,021)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       400,598
<NET-ASSETS>                                34,520,247
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,095,981       
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (158,494)       
<NET-INVESTMENT-INCOME>                        937,487
<REALIZED-GAINS-CURRENT>                        13,864     
<APPREC-INCREASE-CURRENT>                    (313,704)      
<NET-CHANGE-FROM-OPS>                          637,647      
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (116,329)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        235,634
<NUMBER-OF-SHARES-REDEEMED>                   (55,492)
<SHARES-REINVESTED>                              8,811
<NET-CHANGE-IN-ASSETS>                       2,272,629
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (875,031)        
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           75,802
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                218,874
<AVERAGE-NET-ASSETS>                        30,566,875          
<PER-SHARE-NAV-BEGIN>                            12.20
<PER-SHARE-NII>                                    .36
<PER-SHARE-GAIN-APPREC>                          (.08)   
<PER-SHARE-DIVIDEND>                             (.36)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0    
<PER-SHARE-NAV-END>                              12.12     
<EXPENSE-RATIO>                                   1.40   
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND - CLASS I
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       33,430,262
<INVESTMENTS-AT-VALUE>                      33,830,860
<RECEIVABLES>                                  759,038
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<TOTAL-ASSETS>                              34,699,577         
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      179,330      
<TOTAL-LIABILITIES>                            179,330      
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    34,984,689
<SHARES-COMMON-STOCK>                          170,158        
<SHARES-COMMON-PRIOR>                           65,171
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (865,021)
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<ACCUM-APPREC-OR-DEPREC>                       400,598
<NET-ASSETS>                                34,520,247
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,095,981       
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (158,494)       
<NET-INVESTMENT-INCOME>                        937,487
<REALIZED-GAINS-CURRENT>                        13,864     
<APPREC-INCREASE-CURRENT>                    (313,704)      
<NET-CHANGE-FROM-OPS>                          637,647      
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (41,297)
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                        104,386
<NUMBER-OF-SHARES-REDEEMED>                    (2,563)
<SHARES-REINVESTED>                              3,163
<NET-CHANGE-IN-ASSETS>                       1,269,914
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (875,031)        
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<GROSS-ADVISORY-FEES>                           75,802
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                218,874
<AVERAGE-NET-ASSETS>                        30,566,875          
<PER-SHARE-NAV-BEGIN>                            12.23
<PER-SHARE-NII>                                    .40
<PER-SHARE-GAIN-APPREC>                          (.08)   
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<PER-SHARE-DISTRIBUTIONS>                            0
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<PER-SHARE-NAV-END>                              12.15     
<EXPENSE-RATIO>                                    .69   
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 5
   <NAME> THORNBURG VALUE FUND - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       40,512,058
<INVESTMENTS-AT-VALUE>                      42,218,746
<RECEIVABLES>                                  708,911
<ASSETS-OTHER>                                 119,188
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              43,046,845
<PAYABLE-FOR-SECURITIES>                       959,426
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       87,125
<TOTAL-LIABILITIES>                          1,046,551
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    38,726,886
<SHARES-COMMON-STOCK>                        2,443,193
<SHARES-COMMON-PRIOR>                        1,064,816
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,581,217  
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,706,688
<NET-ASSETS>                                42,000,294
<DIVIDEND-INCOME>                              392,708
<INTEREST-INCOME>                               33,044
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 246,777
<NET-INVESTMENT-INCOME>                        178,975
<REALIZED-GAINS-CURRENT>                     1,578,703
<APPREC-INCREASE-CURRENT>                    (359,525)
<NET-CHANGE-FROM-OPS>                        1,398,153
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (162,213)
<DISTRIBUTIONS-OF-GAINS>                     (467,203)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,445,099
<NUMBER-OF-SHARES-REDEEMED>                  (107,154)
<SHARES-REINVESTED>                             40,432
<NET-CHANGE-IN-ASSETS>                      22,558,584
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      504,465
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          124,488
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                252,450
<AVERAGE-NET-ASSETS>                        28,610,648
<PER-SHARE-NAV-BEGIN>                            14.50
<PER-SHARE-NII>                                    .09
<PER-SHARE-GAIN-APPREC>                           1.42
<PER-SHARE-DIVIDEND>                             (.09)
<PER-SHARE-DISTRIBUTIONS>                        (.37)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.55
<EXPENSE-RATIO>                                   1.72
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 5
   <NAME> THORNBURG VALUE FUND - CLASS C
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                       40,512,058
<INVESTMENTS-AT-VALUE>                      42,218,746
<RECEIVABLES>                                  708,911
<ASSETS-OTHER>                                 119,188
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              43,046,845
<PAYABLE-FOR-SECURITIES>                       959,426
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       87,125
<TOTAL-LIABILITIES>                          1,046,551
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    38,726,886
<SHARES-COMMON-STOCK>                          257,509
<SHARES-COMMON-PRIOR>                           87,321
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,581,217
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,706,688
<NET-ASSETS>                                42,000,294
<DIVIDEND-INCOME>                              392,708
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<APPREC-INCREASE-CURRENT>                    (359,525)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (7,170)
<DISTRIBUTIONS-OF-GAINS>                      (34,748)
<DISTRIBUTIONS-OTHER>                                0
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<NUMBER-OF-SHARES-REDEEMED>                    (8,067)
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<NET-CHANGE-IN-ASSETS>                       2,736,858
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<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
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<PER-SHARE-NAV-BEGIN>                            14.51
<PER-SHARE-NII>                                    .04
<PER-SHARE-GAIN-APPREC>                           1.41
<PER-SHARE-DIVIDEND>                             (.04)
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.55
<EXPENSE-RATIO>                                   2.52
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 6
   <NAME> THORNBURG FLORIDA INTERMEDIATE MUNICIPAL FUND
       
<S>                             <C>
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<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
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<RECEIVABLES>                                  450,160
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<OTHER-ITEMS-ASSETS>                                 0
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<PAYABLE-FOR-SECURITIES>                             0
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<SHARES-COMMON-STOCK>                        1,898,163
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<OVERDISTRIBUTION-GAINS>                             0
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (525,809)
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<DISTRIBUTIONS-OTHER>                                0
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<NUMBER-OF-SHARES-REDEEMED>                (1,969,621)
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<PER-SHARE-NAV-BEGIN>                            11.88
<PER-SHARE-NII>                                    .28
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<EXPENSE-RATIO>                                    .78
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>


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