Portfolio Composition
as of (09/30/2014)

Name Value
COLLATERALIZED MORTGAGE OBLIGATIONS 49.98%
MORTGAGE PASS-THRU 33.73%
ASSET BACKED SECURITIES 14.86%
AGENCY 0.80%
Cash & Equivalents 0.63%

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

Name Value
A 3.2%
AA 11.4%
AAA 68.8%
B 7.3%
BB 1.3%
BBB 5.8%
Below B 0.8%
Not Rated 1.3%

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

Name Value
0-1 Years 10.2%
1-2 Years 4.3%
2-3 Years 6.0%
3-5 Years 37.9%
5-10 Years 37.3%
10+ Years 4.2%
Average Life 5.64 Years
Effective Duration 4.76 Years

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

Name Value Coupon Maturity Date
FHLMC, Pool #C91458 2.49% 3.50% 05/01/2032
Wells Fargo Commercial Mortgage Trst, Ser 2010-C1, Cl B 2.29% 5.28% 01/18/2038
FNMA, Pool #AB9368 2.26% 3.50% 01/18/2038
FNMA, Pool #MA1074 2.22% 4.00% 05/01/2032
FHLMC, Pool# C91467 2.13% 3.50% 07/01/2032
FNMA, Pool #AH4008 1.90% 4.00% 01/18/2038
FHLMC, FHR 3835, Class BA 1.90% 4.00% 01/18/2038
FNMA, Series 2011-99, Class CV 1.81% 4.50% 03/01/2026
Commericial Mortgage Trust, Series 2005-GG5, Class AM 1.75% 5.28% 04/01/2037
Hertz Vehicle Financing, LLC, Series 2013-1A, Class A2 1.75% 1.83% 08/25/2019

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.