Portfolio Composition
as of (03/31/2014)

Name Value
CORPORATE BONDS 98.80%
U.S. TREASURIES 1.15%
Cash & Equivalents 0.05%

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

Name Value
A 23.92%
Aa 0.5%
Aaa 1.18%
B 4.58%
Ba 14.77%
Baa 55.06%

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

Name Value
0-1 Years 7.02%
1-3 Years 21.3%
3-5 Years 21.48%
5-7 Years 17.8%
7-10 Years 31.8%
10-20 Years 0.00%
20+ Years 0.6%
Average Life 5.66 Years
Effective Duration 4.56 Years

Top 10 Holdings
as of (03/31/2014)

Name Value Coupon Maturity Date
Verizon Communications, Inc. 2.24% 5.15% 09/15/2023
General Electric Capital Corp., Series B 2.11% 6.25% 01/18/2038
Merrill Lynch & Co., Inc., Series MTN 1.99% 6.88% 04/25/2018
Morgan Stanley, Series MTN 1.82% 6.63% 04/01/2018
Murray Street Investment Trust I 1.68% 4.65% 03/09/2017
American International Group, Inc. 1.24% 3.80% 03/22/2017
HSBC Finance Corp. 1.24% 6.68% 01/15/2021
Endurance Specialty Holdings, Ltd. 1.22% 6.15% 10/15/2015
Associates Corp Of North America 1.20% 6.95% 11/01/2018
Health Care Reit, Inc. 1.16% 4.95% 01/15/2021

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.