Strategy. The Board of Trustees of Thrivent Mutual Funds has approved the merger of Thrivent Low Volatility Equity Fund (the Target Fund) into Thrivent Global Stock Fund. The merger is subject to approval by shareholders of the Target Fund at a special meeting of shareholders to be held on or about June 27, 2024. The merger, if approved by shareholders, will occur on or about July 19, 2024. The Target Fund will be closed to new shareholder accounts after the close of business on May 3, 2024. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities. The Funds investments are diversified globally. The Fund may … Show more… The Board of Trustees of Thrivent Mutual Funds has approved the merger of Thrivent Low Volatility Equity Fund (the Target Fund) into Thrivent Global Stock Fund. The merger is subject to approval by shareholders of the Target Fund at a special meeting of shareholders to be held on or about June 27, 2024. The merger, if approved by shareholders, will occur on or about July 19, 2024. The Target Fund will be closed to new shareholder accounts after the close of business on May 3, 2024. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities. The Funds investments are diversified globally. The Fund may invest in securities denominated in U.S. dollars and the currencies of the foreign countries in which it may invest. The Fund typically has full currency exposure to those markets in which it invests. The Fund may buy or sell equity index futures for investment exposure or hedging purposes. The Fund may invest in securities of any market capitalization, including small- and mid-cap securities. In seeking to achieve the Funds investment objective, the Adviser employs investment management techniques to identify securities that exhibit low volatility returns. Volatility refers to the variation in security and market prices over time. Over a full market cycle, the Fund seeks to have a risk profile similar to the MSCI World Minimum Volatility Index USD Net Returns. It is expected that the Fund will generally underperform the global equity markets during periods of strong market performance. In buying and selling securities for the Fund, the Adviser uses an active strategy. This strategy consists of a disciplined approach that involves computer-aided, quantitative analysis of fundamental, technical and risk-related factors. The Advisers factor model (a method of analyzing and combining multiple data sources) systematically reviews thousands of stocks, using data such as historical earnings growth and expected future growth, valuation, price momentum, and other quantitative factors to forecast return potential. Then, risk characteristics of potential investments and covariation among securities are analyzed along with the return forecasts in determining the Funds holdings to produce a portfolio with reduced volatility. Show less