Thrivent Short-Term Bond S (Thrivent Limited Maturity Bond ) fond

Under normal market conditions, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in investment grade debt securities or preferred stock. At the time of purchase, these investment grade securities are rated at or above BBB- by S&P, or Baa3 by Moody’s, or unrated but considered to be of comparable quality by the Adviser, with the dollar-weighted average effective maturity for the fund expected to be between one and five years.