Portfolio Composition
as of (09/30/2014)

Name Value
REVENUE 73.51%
GENERAL OBLIGATIONS 21.07%
ESCROWED TO MATURITY 0.44%
Cash & Equivalents 4.98%

Moody's Quality Bond Rating¹
as of (09/30/2014)

Name Value
A 11.8%
AA 66.1%
AAA 13.6%
BBB 4.6%
Not Rated 3.9%

Effective Duration Breakdown
as of (09/30/2014)

Name Value
0-1 Year 8.0%
1-2 Years 7.3%
2-3 Years 5.7%
3-5 Years 27.3%
5-10 Years 47.9%
10+ Years 3.7%
Average Life 5.62 Years
Effective Duration 5.26 Years

Top 10 Holdings
as of (09/30/2014)

Name Value Coupon Maturity Date
WV Ec Dv A, Ls Rev, Ref Bnds, Cor Jve Pub Sfty Fac, S A 5.06% 5.00% 06/01/2026
WV Ec Dv A, Ls Rev, Ref Bnds, Cor Jve Pub Sfty Fac, S A 3.27% 5.00% 06/01/2025
WV Water Dev Auth, Wter Dev Rev, Loan Prog II, Ser A-II 2.76% 5.00% 11/01/2027
WV Schl Building Auth, Ref Bonds, Cap Improve, Series A 2.61% 5.00% 07/01/2020
Greenbrier County, Board Of Education Public School 2.41% 5.00% 05/01/2018
WV School Build Auth Rev, Capital Improvement, Series A 2.37% 5.00% 07/01/2016
WV State Parkways Economic Development & Tourism Authty 2.20% 5.25% 05/15/2019
Putnam County, WV, Board Of Education, Public Schools 2.11% 4.00% 05/01/2019
WV Hosp Fin Authrty, United Health Systems Obligation G 2.10% 5.38% 01/18/2038
WV State Bld Comm, Lse Rev, Ref Bnds WV Reg Jail, Ser A 2.01% 5.38% 07/01/2021

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.