<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
023 C000000 262228
023 D000000 207657
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
<PAGE> PAGE 4
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
037 00AA00 N
038 00AA00 0
039 00AA00 Y
040 00AA00 Y
041 00AA00 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
058 B00AA00 N
058 C00AA00 N
058 D00AA00 N
058 E00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 5000
070 A01AA00 Y
070 A02AA00 Y
<PAGE> PAGE 5
070 B01AA00 N
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 Y
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 N
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 Y
070 M01AA00 Y
070 M02AA00 Y
070 N01AA00 Y
070 N02AA00 Y
070 O01AA00 Y
070 O02AA00 Y
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 Y
070 R02AA00 Y
077 A000000 N
078 000000 N
080 A00AA00 NATIONAL UNION FIRE
080 C00AA00 4000
081 A00AA00 Y
081 B00AA00 2
082 A00AA00 Y
082 B00AA00 50
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
<PAGE> PAGE 6
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 2241
028 A020100 498
028 A030100 0
028 A040100 2095
028 B010100 2048
028 B020100 494
028 B030100 0
028 B040100 1654
028 C010100 2114
028 C020100 495
028 C030100 0
028 C040100 3252
028 D010100 2705
028 D020100 498
028 D030100 0
028 D040100 4011
028 E010100 1745
028 E020100 476
028 E030100 0
028 E040100 1440
028 F010100 2133
028 F020100 485
028 F030100 0
028 F040100 4895
028 G010100 12986
028 G020100 2946
028 G030100 0
028 G040100 17347
028 H000100 4569
029 000100 Y
030 A000100 77
030 B000100 2.50
030 C000100 0.00
031 A000100 11
031 B000100 0
032 000100 66
033 000100 0
034 000100 Y
035 000100 1
036 A000100 Y
036 B000100 0
042 A000100 0
<PAGE> PAGE 7
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 178
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 1000000
048 A020100 0.375
048 B010100 1000000
048 B020100 0.325
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 2000000
048 K020100 0.275
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 45.4
062 N000100 54.6
062 O000100 0.0
062 P000100 0.0
<PAGE> PAGE 8
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 3.7
064 A000100 Y
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
071 A000100 16996
071 B000100 8920
071 C000100 141693
071 D000100 6
072 A000100 6
072 B000100 5082
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 268
072 G000100 89
072 H000100 0
072 I000100 68
072 J000100 55
072 K000100 0
072 L000100 0
072 M000100 3
072 N000100 25
072 O000100 0
072 P000100 0
072 Q000100 8
072 R000100 8
072 S000100 5
072 T000100 178
072 U000100 0
072 V000100 0
072 W000100 10
072 X000100 717
072 Y000100 18
072 Z000100 4383
072AA000100 0
072BB000100 117
072CC010100 0
072CC020100 1102
072DD010100 4383
072DD020100 0
072EE000100 0
073 A010100 0.3800
073 A020100 0.0000
073 B000100 0.0000
<PAGE> PAGE 9
073 C000100 0.0000
074 A000100 3
074 B000100 0
074 C000100 0
074 D000100 137681
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 77
074 K000100 0
074 L000100 2502
074 M000100 33
074 N000100 140296
074 O000100 0
074 P000100 60
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 572
074 S000100 0
074 T000100 139664
074 U010100 11512
074 U020100 0
074 V010100 12.13
074 V020100 0.00
074 W000100 0.0000
074 X000100 4019
074 Y000100 0
075 A000100 0
075 B000100 143269
076 000100 0.00
028 A010200 1183
028 A020200 343
028 A030200 0
028 A040200 1295
028 B010200 1654
028 B020200 346
028 B030200 0
028 B040200 2925
028 C010200 1014
028 C020200 343
028 C030200 0
028 C040200 3575
028 D010200 2858
028 D020200 336
028 D030200 0
028 D040200 1099
028 E010200 2763
<PAGE> PAGE 10
028 E020200 346
028 E030200 0
028 E040200 3836
028 F010200 3141
028 F020200 335
028 F030200 0
028 F040200 1537
028 G010200 12613
028 G020200 2049
028 G030200 0
028 G040200 14267
028 H000200 6749
029 000200 Y
030 A000200 125
030 B000200 3.50
030 C000200 0.00
031 A000200 16
031 B000200 0
032 000200 109
033 000200 0
034 000200 N
035 000200 0
036 B000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 100
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 161
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 500000
048 A020200 0.500
048 B010200 500000
048 B020200 0.450
048 C010200 500000
048 C020200 0.400
048 D010200 500000
048 D020200 0.350
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
<PAGE> PAGE 11
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 2000000
048 K020200 0.275
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.8
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 99.2
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 6.9
064 A000200 Y
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
071 A000200 8459
071 B000200 8015
071 C000200 128901
071 D000200 6
072 A000200 6
072 B000200 3884
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 326
072 G000200 82
072 H000200 0
072 I000200 38
072 J000200 49
072 K000200 0
072 L000200 0
<PAGE> PAGE 12
072 M000200 3
072 N000200 1
072 O000200 0
072 P000200 0
072 Q000200 7
072 R000200 8
072 S000200 4
072 T000200 161
072 U000200 0
072 V000200 0
072 W000200 4
072 X000200 683
072 Y000200 30
072 Z000200 3231
072AA000200 38
072BB000200 0
072CC010200 0
072CC020200 453
072DD010200 3231
072DD020200 0
072EE000200 0
073 A010200 0.3200
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 46
074 B000200 0
074 C000200 1000
074 D000200 128243
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 30
074 L000200 2521
074 M000200 2
074 N000200 131842
074 O000200 31
074 P000200 96
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 428
074 S000200 0
074 T000200 131287
074 U010200 10062
074 U020200 0
074 V010200 13.05
<PAGE> PAGE 13
074 V020200 0.00
074 W000200 0.0000
074 X000200 2522
074 Y000200 0
075 A000200 0
075 B000200 130966
076 000200 0.00
028 A010300 3384
028 A020300 642
028 A030300 0
028 A040300 2328
028 B010300 4866
028 B020300 651
028 B030300 0
028 B040300 3070
028 C010300 6272
028 C020300 644
028 C030300 0
028 C040300 3265
028 D010300 10956
028 D020300 659
028 D030300 0
028 D040300 8034
028 E010300 7570
028 E020300 683
028 E030300 0
028 E040300 4954
028 F010300 6365
028 F020300 678
028 F030300 0
028 F040300 2530
028 G010300 39413
028 G020300 3957
028 G030300 0
028 G040300 24181
028 H000300 23337
029 000300 Y
030 A000300 342
030 B000300 3.50
030 C000300 0.00
031 A000300 41
031 B000300 0
032 000300 301
033 000300 0
034 000300 Y
035 000300 5
036 A000300 Y
036 B000300 0
042 A000300 0
042 B000300 0
042 C000300 0
<PAGE> PAGE 14
042 D000300 100
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 332
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 500000
048 A020300 0.500
048 B010300 500000
048 B020300 0.450
048 C010300 500000
048 C020300 0.400
048 D010300 500000
048 D020300 0.350
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 2000000
048 K020300 0.275
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 1.7
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 98.3
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
<PAGE> PAGE 15
063 A000300 0
063 B000300 7.3
064 A000300 Y
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 41526
071 B000300 22231
071 C000300 258165
071 D000300 9
072 A000300 6
072 B000300 7936
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 655
072 G000300 163
072 H000300 0
072 I000300 88
072 J000300 98
072 K000300 0
072 L000300 0
072 M000300 5
072 N000300 31
072 O000300 0
072 P000300 0
072 Q000300 14
072 R000300 13
072 S000300 9
072 T000300 332
072 U000300 0
072 V000300 0
072 W000300 10
072 X000300 1418
072 Y000300 93
072 Z000300 6611
072AA000300 7
072BB000300 0
072CC010300 0
072CC020300 1242
072DD010300 6611
072DD020300 0
072EE000300 0
073 A010300 0.3300
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 21
<PAGE> PAGE 16
074 B000300 0
074 C000300 4000
074 D000300 266351
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 75
074 L000300 5321
074 M000300 36
074 N000300 275804
074 O000300 2448
074 P000300 206
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 795
074 S000300 0
074 T000300 272355
074 U010300 20680
074 U020300 0
074 V010300 13.17
074 V020300 0.00
074 W000300 0.0000
074 X000300 5476
074 Y000300 0
075 A000300 0
075 B000300 263319
076 000300 0.00
028 A010400 2124
028 A020400 86
028 A030400 0
028 A040400 409
028 B010400 635
028 B020400 92
028 B030400 0
028 B040400 384
028 C010400 919
028 C020400 95
028 C030400 0
028 C040400 571
028 D010400 2250
028 D020400 97
028 D030400 0
028 D040400 435
028 E010400 1603
028 E020400 100
028 E030400 0
<PAGE> PAGE 17
028 E040400 306
028 F010400 2663
028 F020400 110
028 F030400 0
028 F040400 774
028 G010400 10194
028 G020400 580
028 G030400 0
028 G040400 2879
028 H000400 2749
029 000400 Y
030 A000400 56
030 B000400 2.50
030 C000400 0.00
031 A000400 9
031 B000400 0
032 000400 47
033 000400 0
034 000400 Y
035 000400 3
036 A000400 Y
036 B000400 0
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 100
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 40
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.000
048 A010400 500000
048 A020400 0.500
048 B010400 500000
048 B020400 0.450
048 C010400 500000
048 C020400 0.400
048 D010400 500000
048 D020400 0.350
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
<PAGE> PAGE 18
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 2000000
048 K020400 0.275
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 4.1
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 12.2
062 N000400 22.2
062 O000400 0.0
062 P000400 6.5
062 Q000400 55.0
062 R000400 0.0
063 A000400 0
063 B000400 4.8
064 A000400 Y
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
071 A000400 15055
071 B000400 1584
071 C000400 29087
071 D000400 5
072 A000400 6
072 B000400 1096
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 76
072 G000400 19
072 H000400 0
072 I000400 27
072 J000400 25
072 K000400 0
072 L000400 0
072 M000400 1
<PAGE> PAGE 19
072 N000400 20
072 O000400 0
072 P000400 0
072 Q000400 2
072 R000400 3
072 S000400 1
072 T000400 40
072 U000400 0
072 V000400 0
072 W000400 5
072 X000400 219
072 Y000400 60
072 Z000400 937
072AA000400 14
072BB000400 0
072CC010400 0
072CC020400 314
072DD010400 937
072DD020400 0
072EE000400 0
073 A010400 0.3800
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 36
074 B000400 0
074 C000400 1899
074 D000400 31932
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 44
074 L000400 759
074 M000400 30
074 N000400 34700
074 O000400 0
074 P000400 58
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 121
074 S000400 0
074 T000400 34521
074 U010400 2843
074 U020400 0
074 V010400 12.14
074 V020400 0.00
<PAGE> PAGE 20
074 W000400 0.0000
074 X000400 1140
074 Y000400 0
075 A000400 0
075 B000400 30567
076 000400 0.00
028 A010500 2873
028 A020500 485
028 A030500 0
028 A040500 354
028 B010500 2513
028 B020500 74
028 B030500 0
028 B040500 128
028 C010500 3631
028 C020500 0
028 C030500 0
028 C040500 462
028 D010500 4975
028 D020500 0
028 D030500 0
028 D040500 89
028 E010500 6544
028 E020500 86
028 E030500 0
028 E040500 613
028 F010500 5202
028 F020500 0
028 F030500 0
028 F040500 168
028 G010500 25738
028 G020500 645
028 G030500 0
028 G040500 1814
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
048 A010500 500000
048 A020500 0.875
048 B010500 500000
048 B020500 0.825
048 C010500 500000
048 C020500 0.775
048 D010500 500000
048 D020500 0.725
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 2000000
048 K020500 0.675
062 A000500 N
062 B000500 0.0
062 C000500 0.0
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
071 B000500 11324
071 C000500 26794
071 D000500 42
072 A000500 6
072 B000500 33
072 C000500 393
072 D000500 0
072 E000500 0
072 F000500 124
072 G000500 18
072 H000500 0
072 I000500 20
072 J000500 14
072 K000500 0
072 L000500 0
072 M000500 1
072 N000500 15
072 O000500 0
072 P000500 0
072 Q000500 1
072 R000500 3
072 S000500 5
072 T000500 45
072 U000500 0
072 V000500 0
072 W000500 6
072 X000500 252
072 Y000500 5
072 Z000500 179
072AA000500 1579
072BB000500 0
072CC010500 0
072CC020500 360
072DD010500 169
072DD020500 0
072EE000500 502
073 A010500 0.0900
073 A020500 0.0000
<PAGE> PAGE 23
073 B000500 0.3700
073 C000500 0.0000
074 A000500 77
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 39869
074 G000500 0
074 H000500 0
074 I000500 2350
074 J000500 0
074 K000500 0
074 L000500 709
074 M000500 42
074 N000500 43047
074 O000500 959
074 P000500 36
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 52
074 S000500 0
074 T000500 42000
074 U010500 2701
074 U020500 0
074 V010500 15.55
074 V020500 0.00
074 W000500 0.0000
074 X000500 1589
074 Y000500 0
075 A000500 0
075 B000500 28611
076 000500 0.00
028 A010600 1891
028 A020600 40
028 A030600 0
028 A040600 300
028 B010600 359
028 B020600 41
028 B030600 0
028 B040600 116
028 C010600 21126
028 C020600 42
028 C030600 0
028 C040600 103
028 D010600 1620
028 D020600 43
028 D030600 0
028 D040600 20753
<PAGE> PAGE 24
028 E010600 434
028 E020600 42
028 E030600 0
028 E040600 199
028 F010600 917
028 F020600 38
028 F030600 0
028 F040600 2024
028 G010600 26347
028 G020600 246
028 G030600 0
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
048 E010600 0
048 E020600 0.000
048 F010600 0
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
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
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
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 57
072 G000600 14
072 H000600 0
072 I000600 9
072 J000600 10
072 K000600 0
<PAGE> PAGE 26
072 L000600 0
072 M000600 1
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 1
072 R000600 3
072 S000600 1
072 T000600 26
072 U000600 0
072 V000600 0
072 W000600 2
072 X000600 124
072 Y000600 36
072 Z000600 526
072AA000600 0
072BB000600 2
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>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 136,952,269
<INVESTMENTS-AT-VALUE> 137,681,415
<RECEIVABLES> 2,578,441
<ASSETS-OTHER> 36,336
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 140,296,192
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 631,914
<TOTAL-LIABILITIES> 631,914
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 146,533,998
<SHARES-COMMON-STOCK> 11,151,859
<SHARES-COMMON-PRIOR> 11,402,426
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7,598,865)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 729,146
<NET-ASSETS> 139,664,278
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,081,548
<OTHER-INCOME> 0
<EXPENSES-NET> (698,545)
<NET-INVESTMENT-INCOME> 4,383,003
<REALIZED-GAINS-CURRENT> (117,740)
<APPREC-INCREASE-CURRENT> (1,102,012)
<NET-CHANGE-FROM-OPS> 3,163,251
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,276,257)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 838,575
<NUMBER-OF-SHARES-REDEEMED> (1,321,169)
<SHARES-REINVESTED> 232,027
<NET-CHANGE-IN-ASSETS> (4,237,160)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (7,481,125)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 267,786
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 717,334
<AVERAGE-NET-ASSETS> 143,268,970
<PER-SHARE-NAV-BEGIN> 12.24
<PER-SHARE-NII> .38
<PER-SHARE-GAIN-APPREC> (.11)
<PER-SHARE-DIVIDEND> (.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.13
<EXPENSE-RATIO> .97
<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> 1
<NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND - CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 136,952,269
<INVESTMENTS-AT-VALUE> 137,681,415
<RECEIVABLES> 2,578,441
<ASSETS-OTHER> 36,336
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 140,296,192
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 631,914
<TOTAL-LIABILITIES> 631,914
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 146,533,998
<SHARES-COMMON-STOCK> 345,330
<SHARES-COMMON-PRIOR> 226,213
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7,598,865)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 729,146
<NET-ASSETS> 139,664,278
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,081,548
<OTHER-INCOME> 0
<EXPENSES-NET> (698,545)
<NET-INVESTMENT-INCOME> 4,383,003
<REALIZED-GAINS-CURRENT> (117,740)
<APPREC-INCREASE-CURRENT> (1,102,012)
<NET-CHANGE-FROM-OPS> 3,163,251
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (103,040)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 130,430
<NUMBER-OF-SHARES-REDEEMED> (18,761)
<SHARES-REINVESTED> 7,448
<NET-CHANGE-IN-ASSETS> 1,427,149
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (7,481,125)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 267,786
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 717,334
<AVERAGE-NET-ASSETS> 143,268,970
<PER-SHARE-NAV-BEGIN> 12.29
<PER-SHARE-NII> .35
<PER-SHARE-GAIN-APPREC> (.11)
<PER-SHARE-DIVIDEND> (.35)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.18
<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> 1
<NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 136,952,269
<INVESTMENTS-AT-VALUE> 137,681,415
<RECEIVABLES> 2,578,441
<ASSETS-OTHER> 36,336
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 140,296,192
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 631,914
<TOTAL-LIABILITIES> 631,914
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 146,533,998
<SHARES-COMMON-STOCK> 15,188
<SHARES-COMMON-PRIOR> 730
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7,598,865)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 729,146
<NET-ASSETS> 139,664,278
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,081,548
<OTHER-INCOME> 0
<EXPENSES-NET> (698,545)
<NET-INVESTMENT-INCOME> 4,383,003
<REALIZED-GAINS-CURRENT> (117,740)
<APPREC-INCREASE-CURRENT> (1,102,012)
<NET-CHANGE-FROM-OPS> 3,163,251
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,706)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 87,386
<NUMBER-OF-SHARES-REDEEMED> (73,245)
<SHARES-REINVESTED> 317
<NET-CHANGE-IN-ASSETS> 175,249
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (7,481,125)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 267,786
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 717,334
<AVERAGE-NET-ASSETS> 143,268,970
<PER-SHARE-NAV-BEGIN> 12.24
<PER-SHARE-NII> .40
<PER-SHARE-GAIN-APPREC> (.11)
<PER-SHARE-DIVIDEND> (.40)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.13
<EXPENSE-RATIO> .59
<AVG-DEBT-OUTSTANDING> 0
<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
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 124,887,253
<INVESTMENTS-AT-VALUE> 129,242,600
<RECEIVABLES> 2,520,564
<ASSETS-OTHER> 78,774
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 131,841,938
<PAYABLE-FOR-SECURITIES> 31,251
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 523,246
<TOTAL-LIABILITIES> 554,497
<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
<ACCUMULATED-NET-GAINS> (719,257)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,356,133
<NET-ASSETS> 131,287,441
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,883,584
<OTHER-INCOME> 0
<EXPENSES-NET> (652,809)
<NET-INVESTMENT-INCOME> 3,230,775
<REALIZED-GAINS-CURRENT> 38,255
<APPREC-INCREASE-CURRENT> (452,671)
<NET-CHANGE-FROM-OPS> 2,816,359
<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)
<SHARES-REINVESTED> 157,875
<NET-CHANGE-IN-ASSETS> (19,487)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (757,512)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 326,405
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 683,288
<AVERAGE-NET-ASSETS> 130,965,636
<PER-SHARE-NAV-BEGIN> 13.09
<PER-SHARE-NII> .32
<PER-SHARE-GAIN-APPREC> (.04)
<PER-SHARE-DIVIDEND> (.32)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.05
<EXPENSE-RATIO> 1.00
<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
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,132,755
<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
<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 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
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</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
<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> 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)
<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> 12.23
<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
<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> 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
<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> 170,158
<SHARES-COMMON-PRIOR> 65,171
<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> (41,297)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<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)
<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> 12.23
<PER-SHARE-NII> .40
<PER-SHARE-GAIN-APPREC> (.08)
<PER-SHARE-DIVIDEND> (.40)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.15
<EXPENSE-RATIO> .69
<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> 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
<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> (7,170)
<DISTRIBUTIONS-OF-GAINS> (34,748)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 175,813
<NUMBER-OF-SHARES-REDEEMED> (8,067)
<SHARES-REINVESTED> 2,442
<NET-CHANGE-IN-ASSETS> 2,736,858
<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> 14.51
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> 1.41
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> (.37)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.55
<EXPENSE-RATIO> 2.52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
<NUMBER> 6
<NAME> THORNBURG FLORIDA INTERMEDIATE MUNICIPAL FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 21,751,652
<INVESTMENTS-AT-VALUE> 22,075,357
<RECEIVABLES> 450,160
<ASSETS-OTHER> 157,413
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 22,682,930
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 134,763
<TOTAL-LIABILITIES> 134,763
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22,367,074
<SHARES-COMMON-STOCK> 1,898,163
<SHARES-COMMON-PRIOR> 1,641,678
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (142,613)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 323,705
<NET-ASSETS> 22,548,167
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 613,706
<OTHER-INCOME> 0
<EXPENSES-NET> (87,897)
<NET-INVESTMENT-INCOME> 525,809
<REALIZED-GAINS-CURRENT> (2,455)
<APPREC-INCREASE-CURRENT> (48,174)
<NET-CHANGE-FROM-OPS> 475,180
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (525,809)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,205,517
<NUMBER-OF-SHARES-REDEEMED> (1,969,621)
<SHARES-REINVESTED> 20,589
<NET-CHANGE-IN-ASSETS> 3,046,908
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (140,158)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 56,631
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 124,156
<AVERAGE-NET-ASSETS> 22,763,317
<PER-SHARE-NAV-BEGIN> 11.88
<PER-SHARE-NII> .28
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.28)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.88
<EXPENSE-RATIO> .78
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>