Portfolio Composition
as of (06/30/2014)

Name Value
COLLATERALIZED MORTGAGE OBLIGATIONS 51.86%
MORTGAGE PASS-THRU 35.75%
ASSET BACKED SECURITIES 8.96%
AGENCY 1.75%
Cash & Equivalents 1.68%

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

Name Value
A 5.77%
Aa 7.57%
Aaa 68.19%
B 8.02%
Ba 2.51%
Baa 5.14%
Caa 2.80%

Effective Duration Breakdown
as of (03/31/2014)

Name Value
0-1 Years 5.39%
1-3 Years 15.37%
3-5 Years 29.17%
5-7 Years 32.68%
7-10 Years 11.35%
10-20 Years 2.75%
20+ Years 3.29%
Average Life 5.69 Years
Effective Duration 4.76 Years

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

Name Value Coupon Maturity Date
FNMA, Pool #AB9368 3.25% 07/17/2014
FHLMC, Pool #C91458 2.52% 07/17/2014
FHLMC, Pool #C91449 2.30% 07/17/2014
Wells Fargo Commercial Mort Trust, Ser 2010-c1, Cl B 2.26% 07/17/2014
FNMA, Pool #MA1074 2.23% 07/17/2014
FHLMC, Pool# C91467 2.15% 07/17/2014
Freddie Mac Remics 1.95% 07/17/2014
FNMA, Pool #AH4008 1.91% 07/17/2014
FHLMC 1.75% 07/17/2014
Greenwich Capital Comm Fund Corp., Ser 2005-gg5, Cl AM 1.72% 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.