Moody's Quality Bond Rating¹
as of (03/31/2014)

Name Value
A 18.20%
Aa 11.55%
Aaa 29.07%
B 4.43%
Ba 7.66%
Baa 28.02%
Caa 1.07%

Effective Maturity
as of (03/31/2014)

Name Value
0-1 Year 7.87%
1-3 Years 20.94%
3-5 Years 23.84%
5-10 Years 34.78%
10-20 Years 2.54%
20+ Years 10.03%
Average Life 7.48 Years
Effective Duration 5.05 Years

Portfolio Composition
as of (03/31/2014)

Composition Fund Index
Corporate 43.09% 22.96%
   Financial 22.39% 7.47%
   Industrial 16.58% 12.92%
   Utility 4.12% 2.57%
Government Related 10.46% 10%
   Agency 0% 5.56%
   Local Authority 8.96% 1.35%
   Sovereign 1.5% 1.49%
   Supranational 0% 1.6%
Securitized 43.24% 31.4%
   ABS 5.85% 0.49%
   ARM 0.2% 0.44%
   CMBS 17.69% 1.69%
   CMO 8.94% 0%
   MBS Passthrough 10.56% 28.73%
   Covered 0% 0.05%
Treasury 1.19% 35.65%
Cash 2.02% 0%
TOTAL 100% 100%

Top 10 Holdings
as of (06/30/2014)

Name Value Coupon Maturity Date
Avis Budget Rental Car Fund Aesop, Ser 2012-3a, Cl A 1.78% 07/17/2014
FNMA, Pool #AB9368 1.14% 07/17/2014
Citi/Deut Bank Comm Mort Trust, Ser 2007-cd4, Cl A4 1.11% 07/17/2014
Morgan Stanley Cap I Trust, Ser 2008-top29, Cl A4 1.10% 07/17/2014
Morgan Stanley Capital I Trust, Ser 2007-iq14, Cl A5 1.06% 07/17/2014
Securitized Asset Backed Recs, Ser 2005-op2, Cl A2c 1.05% 07/17/2014
BCAP Llc, Trust, Series 2013-rr4, Class A4a2 1.04% 07/17/2014
FHLMC, Series 4077, Class Pj 1.03% 07/17/2014
Ally Auto Receivables Trust 2013-2 0.99% 07/17/2014
North Carolina, Eastern Muni Power Agency, Ser C 0.98% 07/17/2014

Current and future portfolio holdings are subject to change and risk.

¹ Credit quality ratings using Moody's rating symbols reflect the credit quality of the underlying bonds in the fund portfolio and not of the Fund itself. Moody's assigns a range of ratings from Aaa being the highest quality to C being the lowest rated class of bonds. Securities not rated by Moody's may be rated by S&P, Fitch or if no agency rating is available, the Fund will assign a rating of not rated. Bond quality ratings are subject to change.