Portfolio Composition
as of (12/31/2014)

Name Value
CORPORATE BONDS 59.78%
COLLATERALIZED MORTGAGE OBLIGATIONS 19.80%
ASSET BACKED SECURITIES 15.00%
MUNICIPAL BONDS 5.09%
Cash & Equivalents 0.33%

Moody's Quality Bond Rating¹
as of (12/31/2014)

Name Value
AAA 28.8%
AA 9.2%
A 29.4%
BBB 30.2%
BB 2.4%
Not Rated 0.0%

Effective Duration Breakdown
as of (12/31/2014)

Name Value
0-1 Years 60.3%
1-2 Years 39.2%
2-3 Years 0.5%
Average Life 0.93 Years
Effective Duration 0.86 Years

Top 10 Holdings
as of (12/31/2014)

Name Value Coupon Maturity Date
Americredit Automobile Receivabl Trst, Ser 2012-5, Cl B 1.24% 1.12% 11/08/2017
Countrywide Financial Corp 1.24% 6.25% 05/15/2016
Morgan Stanley Capital I Trust, Series 2006-T23, Cl A4 1.14% 5.81% 01/18/2038
Honda Auto Receivables Owner Trst, Series 2013-4, Cl A3 1.14% 0.69% 09/18/2017
GCCFC Commercial Mortgage Trust, Ser 2007-GG9, Class A4 1.07% 5.44% 01/18/2038
Williams Partners L.P. 1.01% 3.80% 02/15/2015
Wachovia Bk Commercial Mrtge Trt, Ser 2005-C20, Cl AMFX 1.00% 5.18% 01/18/2038
Enterprise Fleet Financing, LLC, Series 2014-1, Cl A2 1.00% 0.87% 09/20/2019
Goldman Sachs Group, Inc. (The) 0.97% 3.30% 05/03/2015
Wells Fargo & Co. 0.97% 1.25% 07/20/2016

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.