Putnam Allstate Advisor Plus
Putnam High Yield Subaccount
The fund seeks high current income. Capital growth is a secondary goal when consistent with achieving high current income.
Fund Description
The subaccount seeks high current income by investing principally in corporate bonds rated below investment grade. It offers the potential for higher income than investment-grade bond funds in exchange for the increased risk that accompanies high-yield bond investments. The subaccount is diversified across a range of industries and the management team conducts intensive research to select companies that appear capable of servicing their outstanding debt obligations.
Sales Story
Seeking a high level of income for investorsIncome-focused: The portfolio managers strive for a higher level of income than most bonds offer by investing in higher-yielding, lower rated corporate bonds.Active risk management: The managers can adjust the fund's holdings to capitalize on market opportunities, such as emphasizing bonds with higher credit quality when credit risk increases.Leading research: The fund's managers, supported by Putnam's fixed-income research division, analyze a range of bonds to build a diversified portfolio.
Management team
- Robert L. Salvin (Investing since 1986)
- Paul D. Scanlon, CFA® (Investing since 1986)
- Norman P. Boucher (Investing since 1985)
Daily Pricing as of 03/07/14
| with optional enhanced death benefits | ||
|---|---|---|
| Unit Value | $20.068969 | $19.643973 |
| Unit Value Change | -0.028686 | -0.028161 |
‡ Lipper Ranking as of 01/31/14
Category: High Yield-PCM
| Percentile ranking | Rank/Funds in category | |
|---|---|---|
| 10 yrs. | 36% | 24/66 |
| 1 yr. | 28% | 31/110 |
| 3 yrs. | 54% | 57/106 |
| 5 yrs. | 43% | 39/90 |
Quick Facts as of 02/28/14
| Fiscal Year End | December |
|---|---|
| Asset Class | Putnam Allstate Advisor Plus |
| Subaccount Status | Open to new investors |
| Number of Issues | 661 |
| Turnover (fiscal year end) | 43% |
| Net Assets | $389M |
| Inception Date | 02/01/88 |
Maturity detail includes only cash bonds and cash equivalents.
Lower rated bonds may offer higher yields in return for more risk. Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.
Credit qualities are shown as a percentage of net assets. A bond rated Baa or higher (Prime-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor's, Moody's and Fitch. Short-term cash bonds rated A-1+ are included in the AAA-rating category. Ratings and portfolio credit quality will vary over time. Credit quality includes the fixed-income portion of the portfolio. Derivative instruments, including currency forwards, are only included to the extent of any unrealized gain or loss on such instruments and are shown in the not-rated category. Cash is also shown in the not-rated category. The fund itself has not been rated by an independent rating agency.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
‡ Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.
Performance as of 12/31/13
| Annualized Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | 3.09% | 6.13% | 6.13% | 6.65% | 15.00% | 5.91% | 6.17% |
| Standardized | -4.91% | -1.87% | -1.87% | 4.25% | 14.31% | 5.91% | 6.17% |
| With optional enhanced death benefit | |||||||
| Unit Value | 3.05% | 5.97% | 5.97% | 6.49% | 14.83% | 5.75% | 6.01% |
| Standardized | -4.95% | -2.03% | -2.03% | 4.08% | 14.13% | 5.75% | 6.01% |
| Actual performance | |||||||
| Unit Value | 3.09% | 6.13% | 6.13% | 6.65% | 15.00% | 5.91% | 5.02% |
| Standardized | -4.91% | -1.87% | -1.87% | 4.25% | 14.31% | 5.91% | 5.02% |
| With optional enhanced death benefit | |||||||
| Unit Value | 3.05% | 5.97% | 5.97% | 6.49% | 14.83% | 5.75% | 4.86% |
| Standardized | -4.95% | -2.03% | -2.03% | 4.08% | 14.13% | 5.75% | 4.86% |
| Cumulative Performance | Last Quarter | Year to Date |
1 yr. | 3 yrs. | 5 yrs. | 10 yrs. | Life of subaccount |
|---|---|---|---|---|---|---|---|
| Restated performance | |||||||
| Unit Value | 3.09% | 6.13% | 6.13% | 21.30% | 101.17% | 77.65% | 371.79% |
| Standardized | -4.91% | -1.87% | -1.87% | 13.30% | 95.17% | 77.65% | 371.79% |
| With optional enhanced death benefit | |||||||
| Unit Value | 3.05% | 5.97% | 5.97% | 20.75% | 99.64% | 74.96% | 353.51% |
| Standardized | -4.95% | -2.03% | -2.03% | 12.75% | 93.64% | 74.96% | 353.51% |
| Actual performance | |||||||
| Unit Value | 3.09% | 6.13% | 6.13% | 21.30% | 101.17% | 77.65% | 96.99% |
| Standardized | -4.91% | -1.87% | -1.87% | 13.30% | 95.17% | 77.65% | 96.99% |
| With optional enhanced death benefit | |||||||
| Unit Value | 3.05% | 5.97% | 5.97% | 20.75% | 99.64% | 74.96% | 92.88% |
| Standardized | -4.95% | -2.03% | -2.03% | 12.75% | 93.64% | 74.96% | 92.88% |
Annual Performance at NAV
| 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
|---|---|---|---|---|---|---|---|---|---|
| 8.77% | 1.45% | 8.76% | 1.14% | -27.25% | 47.78% | 12.22% | 0.13% | 14.15% | 6.13% |
| With optional enhanced death benefit | |||||||||
| 8.61% | 1.30% | 8.59% | 0.99% | -27.36% | 47.56% | 12.05% | -0.02% | 13.97% | 5.97% |
Restated performance
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|
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With optional enhanced death benefit
|
|
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Risk Characteristics as of 01/31/14
| Avg. Eff. Maturity | 6.31 |
|---|---|
| Avg. Price | 107.78 |
| Avg. Eff. Duration | 3.23 |
| Avg. Coupon | 6.98 |
| Avg. Yield to Maturity | 5.86 |
| Alpha (%) | -- |
|---|---|
| Beta | -- |
| R Squared | -- |
| Standard Deviation (3 yrs.) | 7.08 |
Maturity Details
| 0 to 1 yr. | 7.90% |
|---|---|
| 1 to 5 yrs. | 22.73% |
| 5 to 10 yrs. | 65.40% |
| 10 to 15 yrs. | 1.50% |
| Over 15 yrs. | 2.47% |
Quality Ratings
| AAA | 0.00% |
|---|---|
| AA | 0.00% |
| A | 0.39% |
| BBB | 5.42% |
| BB | 37.64% |
| B | 36.53% |
| CCC and Below | 13.38% |
| Not Rated | 2.88% |
| Net cash | 3.76% |
Unit values and performance information shown apply to the specific annuity product listed, not the underlying Putnam Variable Trust fund. This information should not be used by investors who hold an interest in Putnam Variable Trust funds through a different annuity or other variable product. The unit values and performance of other variable products that offer Putnam Variable Trust funds may be higher or lower due to product charges and expenses or other factors.
Data is historical. Past performance is no guarantee of future results. More recent returns may be less or more than those shown. Investment return and principal value will fluctuate, and you may have a gain or a loss when you sell your units.
Returns shown for the subaccounts for periods before their inception are derived from the historical performance of the underlying fund, adjusted to reflect the mortality, expense risk, and surrender charges applicable to this product and do not factor in the annual $30 contract maintenance fee. Additional riders and options for insurance-related charges will increase expenses and lower returns. Please see the prospectus for details. For a portion of the period, subaccounts may have limited expenses, without which returns would have been lower.
Variable annuities are long-term investments designed for retirement purposes. Putnam Hartford products are flexible-premium variable annuities issued by Hartford Life and Annuity Insurance Company, Simsbury, CT.
Putnam Allstate variable annuities are flexible-premium deferred variable annuities issued by Allstate Life Insurance Company (Allstate Life); underwritten by Allstate Distributors, L.L.C., both of Northbrook, IL; and sold through registered representatives or bank employees who are licensed insurance agents. Please check for availability in your specific state.
These policies have limitations and are sold by prospectus only. The prospectus contains details on the variable annuity, the subaccounts, contract features, fees, expenses, and other pertinent information.
Investors should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus containing this and other information for any variable annuity or variable life product that invests in Putnam Variable Trust funds, contact your financial advisor for a contract prospectus and prospectus for the underlying funds. You may also call Hartford at 1-800-521-0538 or Allstate at 1-800-390-1277. Read the prospectuses carefully before investing.
For the most recent month-end performance, please call Hartford at 1-800-521-0538 or Allstate at 1-800-390-1277.
Maturity detail includes only cash bonds and cash equivalents.
Lower rated bonds may offer higher yields in return for more risk. Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.
Credit qualities are shown as a percentage of net assets. A bond rated Baa or higher (Prime-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor's, Moody's and Fitch. Short-term cash bonds rated A-1+ are included in the AAA-rating category. Ratings and portfolio credit quality will vary over time. Credit quality includes the fixed-income portion of the portfolio. Derivative instruments, including currency forwards, are only included to the extent of any unrealized gain or loss on such instruments and are shown in the not-rated category. Cash is also shown in the not-rated category. The fund itself has not been rated by an independent rating agency.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.
Top 10 Holdings as of 01/31/14
| Intelsat Luxemb P/P 144a 07.7500 06/01/2021 | 0.72% |
|
|---|---|---|
| Hca 06.5000 02/15/2020 | 0.71% |
|
| Royal Bk Scotlnd Grp Usd 07.6480 08/29/2049 | 0.54% |
|
| Slm Corp 08.4500 06/15/2018 | 0.51% |
|
| Aguila 3 P/P 144a 07.8750 01/31/2018 | 0.47% |
|
| Springleaf Finance Corp 06.9000 12/15/2017 | 0.46% |
|
| American Axle Mfg 07.7500 11/15/2019 | 0.45% |
|
| Avaya P/P 144a 07.0000 04/01/2019 | 0.45% |
|
| Linn Energy Llc P/P 144a 07.0000 11/01/2019 | 0.45% |
|
| Sprint Capital Corporation 06.8750 11/15/2028 | 0.45% |
|
| Top 10 holdings, total: | 5.21% |
|
Equity Holdings as of 12/31/13
| ALLY FINANCIAL INC P/P 144A PCT 07.0000 | 0.22% |
|---|---|
| WEYERHAEUSER CO 06.3750 CUM CV PFD | 0.22% |
| GENERAL MOTORS CO | 0.21% |
| KODIAK OIL & GAS CORP | 0.19% |
| EPR PROPERTIES 05.7500 CUM CV PFD | 0.18% |
| GMAC CAPITAL TRUST I PCT 08.1250 | 0.18% |
| TRIBUNE CO/NEW | 0.16% |
| DISH NETWORK CORP-A | 0.14% |
| CALPINE CORP | 0.13% |
| HUNTSMAN CORP | 0.13% |
| JARDEN CORP | 0.13% |
| UNITED TECHNOLOGIES CORP 07.5000 CUM CV PFD | 0.13% |
| AMERICAN AXLE & MFG HOLDINGS | 0.12% |
| GULFPORT ENERGY CORP | 0.11% |
| LYONDELLBASELL INDU-CL A | 0.11% |
| MEADWESTVACO CORP | 0.11% |
| ALLY FINANCIAL INC | 0.10% |
| DELPHI AUTOMOTIVE PLC | 0.10% |
| ELIZABETH ARDEN INC | 0.10% |
| VANTAGE DRILLING CO | 0.10% |
| CIT GROUP INC | 0.09% |
| M/I HOMES INC PCT 09.7500 | 0.09% |
| HILTON WORLDWIDE HOLDINGS IN | 0.08% |
| METLIFE INC | 0.08% |
| METLIFE INC 05.0000 CV PFD | 0.08% |
| GENERAL MOTORS-CW16 | 0.05% |
| GENERAL MOTORS-CW19 | 0.04% |
| TRIBUNE CLASS 1C LITIGAT | 0.04% |
| HARRY & DAVID HOLDINGS INC | 0.02% |
| CHARTER COMM INC CIH WTS | 0.00% |
| TOWER SEMI LTD-CW15 P/P 144A | 0.00% |
| TRUMP ENTERTAINMENT RESORTS | 0.00% |
Full Portfolio Holdings as of 12/31/13
| INTELSAT LUXEMB P/P 144A 07.7500 06/01/2021 | 0.70% |
|---|---|
| HCA INC 06.5000 02/15/2020 | 0.69% |
| ROYAL BK SCOTLND GRP PLC USD 07.6480 08/29/2049 | 0.53% |
| SLM CORP 08.4500 06/15/2018 | 0.50% |
| AGUILA 3 SA P/P 144A 07.8750 01/31/2018 | 0.48% |
| FIRST DATA CORP 12.6250 01/15/2021 | 0.46% |
| SPRINGLEAF FINANCE CORP 06.9000 12/15/2017 | 0.45% |
| AMERICAN AXLE & MFG INC 07.7500 11/15/2019 | 0.44% |
| AVAYA INC P/P 144A 07.0000 04/01/2019 | 0.44% |
| LINN ENERGY LLC P/P 144A 07.0000 11/01/2019 | 0.44% |
| FIRST DATA CORP P/P 144A 08.2500 01/15/2021 | 0.43% |
| SPRINT CAPITAL CORPORATION 06.8750 11/15/2028 | 0.43% |
| HALCON RESOURCES COR 08.8750 05/15/2021 | 0.42% |
| MTR GAMING GROUP INC 11.5000 08/01/2019 | 0.42% |
| SOFTBANK CORP P/P 144A 04.5000 04/15/2020 | 0.42% |
| TEXAS COMP ELEC TL EXT L+450 04.7304 10/10/2017 | 0.41% |
| SABINE PASS LNG LP 07.5000 11/30/2016 | 0.40% |
| CAESARS ENT OPER TLB6 L+525 05.4883 01/28/2018 | 0.39% |
| PETROBAKKEN ENER P/P 144A 08.6250 02/01/2020 | 0.39% |
| SAMSON INV COMPAN P/P 144A 10.5000 02/15/2020 | 0.39% |
| ASHTEAD CAPITAL INC P/P 144A 06.5000 07/15/2022 | 0.38% |
| DINEEQUITY INC 09.5000 10/30/2018 | 0.38% |
| KINETICS CONCEPT/KCI 10.5000 11/01/2018 | 0.38% |
| LEGRAND FRANCE USD 08.5000 02/15/2025 | 0.38% |
| SPRINT CORP P/P 144A 07.2500 09/15/2021 | 0.38% |
| WIDEOPENWEST FIN 10.2500 07/15/2019 | 0.38% |
| CARRIZO OIL & GAS 08.6250 10/15/2018 | 0.37% |
| CLEAR CHANNEL COMMUN 09.0000 12/15/2019 | 0.37% |
| EUR/USD 03/19/2014 CSI-FX | 0.37% |
| NRG ENERGY INC 07.8750 05/15/2021 | 0.37% |
| SPRINT COMM P/P 144A 09.0000 11/15/2018 | 0.37% |
| WHITING PETROLEUM CORP 05.7500 03/15/2021 | 0.37% |
| ADS WASTE HOLDINGS INC 08.2500 10/01/2020 | 0.36% |
| ARCELORMITTAL USD 10.3500 06/01/2019 | 0.36% |
| CLEAR CHANNEL TLD L+675 06.9190 01/31/2019 | 0.36% |
| CONSOL ENERGY INC 08.2500 04/01/2020 | 0.36% |
| DIGICEL GROUP LTD P/P 144A 08.2500 09/30/2020 | 0.36% |
| GOODRICH PETROLEUM 08.8750 03/15/2019 | 0.36% |
| INTELSAT LUXEMB P/P 144A 08.1250 06/01/2023 | 0.36% |
| LAREDO PETROLEUM INC 09.5000 02/15/2019 | 0.36% |
| SPRINT CORP P/P 144A 07.8750 09/15/2023 | 0.36% |
| CONTINENTAL RESOURCES 05.0000 09/15/2022 | 0.35% |
| CERIDIAN HCM HOLDING P/P 144A 11.0000 03/15/2021 | 0.34% |
| LLOYDS BANK PLC 13.0000 01/29/2049 | 0.34% |
| PLAINS EXPLORATION & PRO 06.7500 02/01/2022 | 0.34% |
| KODIAK OIL & GAS 08.1250 12/01/2019 | 0.33% |
| CELANESE US HOLDINGS LLC 05.8750 06/15/2021 | 0.32% |
| DRESDNER FDG TRST I P/P 144A 08.1510 06/30/2031 | 0.32% |
| FELCOR LODGING LP 06.7500 06/01/2019 | 0.32% |
| ATKORE INTL INC 09.8750 01/01/2018 | 0.31% |
| CAESARS ENTERTAINMENT OP 09.0000 02/15/2020 | 0.31% |
| GBP/USD 03/19/2014 BCAP-FX | 0.31% |
| SABRE HOLDINGS CORPORATION 08.3500 03/15/2016 | 0.31% |
| COLORADO INTERSTATE GAS CO 06.8500 06/15/2037 | 0.30% |
| E*TRADE FINANCIAL CORP 06.3750 11/15/2019 | 0.30% |
| VIDEOTRON LTD USD 05.0000 07/15/2022 | 0.30% |
| AES CORPORATION 07.3750 07/01/2021 | 0.29% |
| CALPINE CORP P/P 144A 07.8750 07/31/2020 | 0.29% |
| JM HUBER CORP P/P 144A 09.8750 11/01/2019 | 0.29% |
| METROPCS WIRELES P/P 144A 06.2500 04/01/2021 | 0.29% |
| AIR MEDICAL GRP HLDG 09.2500 11/01/2018 | 0.28% |
| CHESAPEAKE MIDSTREAM 06.1250 07/15/2022 | 0.28% |
| DOLPHIN SUB II IN 06.5000 10/15/2016 | 0.28% |
| EXCO RESOURCES INC 07.5000 09/15/2018 | 0.28% |
| NAVISTAR INTERNATIONAL CORP 08.2500 11/01/2021 | 0.28% |
| ROSETTA RESOURCES 09.5000 04/15/2018 | 0.28% |
| CAPSUGEL FINANCE P/P 144A 09.8750 08/01/2019 | 0.27% |
| CLEAR CHNL WORLD 07.6250 03/15/2020 | 0.27% |
| EUR/USD 03/19/2014 BANKAM | 0.27% |
| FIRST DATA CORP P/P 144A 11.7500 08/15/2021 | 0.27% |
| M/I HOMES INC 08.6250 11/15/2018 | 0.27% |
| NORTEK INC 10.0000 12/01/2018 | 0.27% |
| PULTE GROUP INC 07.6250 10/15/2017 | 0.27% |
| TAMINCO GLOBAL CHEM P/P 144A 09.7500 03/31/2020 | 0.27% |
| WPX ENERGY INC 05.2500 01/15/2017 | 0.27% |
| CROWN CASTLE INT 05.2500 01/15/2023 | 0.26% |
| DAVE & BUSTER'S INC 11.0000 06/01/2018 | 0.26% |
| EP ENERGY/EP FIN INC 09.3750 05/01/2020 | 0.26% |
| HBOS PLC P/P 144A 06.7500 05/21/2018 | 0.26% |
| MASTEC INC 04.8750 03/15/2023 | 0.26% |
| MOTOR CITY TLB L+375 05.0000 03/01/2017 | 0.26% |
| NEIMAN MARCUS TL L+400 05.0000 10/18/2020 | 0.26% |
| NEXSTAR BROADCASTING 06.8750 11/15/2020 | 0.26% |
| NUVEEN INVESTMENTS 2ND L+525 06.5000 02/28/2019 | 0.26% |
| SYNIVERSE HOLDINGS INC 09.1250 01/15/2019 | 0.26% |
| TEREX CORP 06.0000 05/15/2021 | 0.26% |
| BRIGGS & STRATTON CORP 06.8750 12/15/2020 | 0.25% |
| CAPELLA HEALTHCARE 09.2500 07/01/2017 | 0.25% |
| CCO HOLDINGS 06.5000 04/30/2021 | 0.25% |
| CONCHO RESOURCES INC 06.5000 01/15/2022 | 0.25% |
| CRTX ENRG/CRTX ENRG 08.8750 02/15/2018 | 0.25% |
| ENERGY FUTURE P/P 144A 12.2500 03/01/2022 | 0.25% |
| EUR/USD 03/19/2014 DEUTB-L | 0.25% |
| NEEDLE MERGER SUB CO P/P 144A 08.1250 03/15/2019 | 0.25% |
| REYNOLDS GROUP 09.8750 08/15/2019 | 0.25% |
| RITE AID CORP 09.2500 03/15/2020 | 0.25% |
| TRAVELPORT TL1 2NDL L+800 09.5000 01/31/2016 | 0.25% |
| VALEANT PHARMA P/P 144A 06.7500 10/01/2017 | 0.25% |
| CLAIRE'S STORES INC P/P 144A 09.0000 03/15/2019 | 0.24% |
| JBS USA LLC/JBS P/P 144A 07.2500 06/01/2021 | 0.24% |
| LENDER PROCESS SERVICES 05.7500 04/15/2023 | 0.24% |
| MASONITE INTL C P/P 144A 08.2500 04/15/2021 | 0.24% |
| ROC FIN LLC/ROC FIN P/P 144A 12.1250 09/01/2018 | 0.24% |
| WELLCARE HEALTH PLANS IN 05.7500 11/15/2020 | 0.24% |
| AMC ENTERTAINMENT INC 09.7500 12/01/2020 | 0.23% |
| BIOMET INC 06.5000 08/01/2020 | 0.23% |
| CB RICHARD ELLIS 06.6250 10/15/2020 | 0.23% |
| FMG RES AUG 2006 P/P 144A 06.8750 02/01/2018 | 0.23% |
| FRONTIER COMMUNICATIONS 08.1250 10/01/2018 | 0.23% |
| GARDA WORLD SECURITY P/P 144A 07.2500 11/15/2021 | 0.23% |
| GRAY TELEVISION INC 07.5000 10/01/2020 | 0.23% |
| HEALTH NET INC. 06.3750 06/01/2017 | 0.23% |
| HUGHES SATELLITE SYSTEMS 07.6250 06/15/2021 | 0.23% |
| HUNTSMAN INTL L 08.6250 03/15/2021 | 0.23% |
| IGLOO HOLDINGS CORP P/P 144A 08.2500 12/15/2017 | 0.23% |
| L BRANDS INC 06.6250 04/01/2021 | 0.23% |
| METROPCS WIRELES P/P 144A 06.6250 04/01/2023 | 0.23% |
| PAR PHARMACEUTICAL 07.3750 10/15/2020 | 0.23% |
| PHH CORPORATION 07.3750 09/01/2019 | 0.23% |
| TRANSDIGM INC 07.7500 12/15/2018 | 0.23% |
| ALLY FINANCIAL INC P/P 144A PCT 07.0000 | 0.22% |
| CCO HLDGS LLC/CAP CORP 05.1250 02/15/2023 | 0.22% |
| ELIZABETH ARDEN INC 07.3750 03/15/2021 | 0.22% |
| HD SUPPLY INC 11.5000 07/15/2020 | 0.22% |
| KEY ENERGY SERVICES INC 06.7500 03/01/2021 | 0.22% |
| THE AES CORPORATION 08.0000 10/15/2017 | 0.22% |
| WEEKLEY HOMES LLC P/P 144A 06.0000 02/01/2023 | 0.22% |
| WEYERHAEUSER CO 06.3750 CUM CV PFD | 0.22% |
| ACCESS MIDSTREAM PARTNER 04.8750 05/15/2023 | 0.21% |
| ASHLAND INC 04.7500 08/15/2022 | 0.21% |
| ATHLON HLDS LP / FIN P/P 144A 07.3750 04/15/2021 | 0.21% |
| BOE MERGER CORP P/P 144A 09.5000 11/01/2017 | 0.21% |
| CHC HELICOPTER SA USD 09.2500 10/15/2020 | 0.21% |
| CHESAP OIL OP/FN 06.6250 11/15/2019 | 0.21% |
| CHRYSLER GP/CG CO 08.2500 06/15/2021 | 0.21% |
| CONSOL ENERGY INC 08.0000 04/01/2017 | 0.21% |
| CST BRANDS INC 05.0000 05/01/2023 | 0.21% |
| GENERAL MOTORS CO | 0.21% |
| HAWK ACQ SUB INC P/P 144A 04.2500 10/15/2020 | 0.21% |
| ISTAR FINANCIAL INC CV 03.0000 11/15/2016 | 0.21% |
| MICHAELS STORES INC 11.3750 11/01/2016 | 0.21% |
| OFFSHORE GROUP I USD 07.5000 11/01/2019 | 0.21% |
| STEARNS HOLDINGS INC P/P 144A 09.3750 08/15/2020 | 0.21% |
| SUNGARD DATA SYS INC 06.6250 11/01/2019 | 0.21% |
| TAYLOR MORRISON COMM P/P 144A 07.7500 04/15/2020 | 0.21% |
| TENET HEALTHCARE 04.5000 04/01/2021 | 0.21% |
| BUILDING MAT P/P 144A 07.0000 02/15/2020 | 0.20% |
| BURLINGTON COAT FACT 10.0000 02/15/2019 | 0.20% |
| CERIDIAN CORP 11.2500 11/15/2015 | 0.20% |
| CHAPARRAL ENERGY INC 08.2500 09/01/2021 | 0.20% |
| CONSTELLATION BRANDS INC. 07.2500 09/01/2016 | 0.20% |
| DENBURY RESOURCES INC 08.2500 02/15/2020 | 0.20% |
| GREAT CANADIAN GAMIN P/P 144A 06.6250 07/25/2022 | 0.20% |
| HD SUPPLY INC 07.5000 07/15/2020 | 0.20% |
| HUB INTL LTD P/P 144A 07.8750 10/01/2021 | 0.20% |
| HUNTSMAN INTERNATIONAL LLC 04.8750 11/15/2020 | 0.20% |
| ICAHN ENTERPRISES 08.0000 01/15/2018 | 0.20% |
| MGM RESORTS INTERNATIONAL 07.6250 01/15/2017 | 0.20% |
| PENSKE AUTO GRP INC 05.7500 10/01/2022 | 0.20% |
| SABRE INC P/P 144A 08.5000 05/15/2019 | 0.20% |
| SHELF DRILL MIDCO TL L+900 10.0000 10/08/2018 | 0.20% |
| VALEANT PHARMA P/P 144A 06.7500 08/15/2018 | 0.20% |
| WIND ACQ FIN SA P/P 144A 07.2500 02/15/2018 | 0.20% |
| A-S CO-ISS SUB I P/P 144A 07.8750 12/15/2020 | 0.19% |
| AIR MEDICAL TL 07.6250 05/20/2018 | 0.19% |
| AVIV HLTH PROP/AVIV 07.7500 02/15/2019 | 0.19% |
| CAD/USD 01/16/2014 SSBT | 0.19% |
| DEAN FOODS COMPANY 07.0000 06/01/2016 | 0.19% |
| FRAC TECH INTL TLB L+700 08.5000 04/19/2016 | 0.19% |
| FREESCALE SEMICO P/P 144A 06.0000 01/15/2022 | 0.19% |
| INEOS GROUP HLDG SA P/P 144A 06.1250 08/15/2018 | 0.19% |
| KODIAK OIL & GAS CORP | 0.19% |
| MULTIPLAN INC P/P 144A 09.8750 09/01/2018 | 0.19% |
| NEIMAN MARCUS GROUP P/P 144A 08.7500 10/15/2021 | 0.19% |
| REGAL ENTERTAINMENT GRP 05.7500 06/15/2023 | 0.19% |
| REVLON CONSUMER PRODS 05.7500 02/15/2021 | 0.19% |
| REYNOLDS GROUP HLDG 08.2500 02/15/2021 | 0.19% |
| SIRIUS XM HLDG INC P/P 144A 05.8750 10/01/2020 | 0.19% |
| SUGAR HSP GAMING P/P 144A 06.3750 06/01/2021 | 0.19% |
| TENET HEALTHCARE 06.2500 11/01/2018 | 0.19% |
| TMX FIN/TITLEMAX P/P 144A 08.5000 09/15/2018 | 0.19% |
| XM SATELLITE P/P 144A CV 07.0000 12/01/2014 | 0.19% |
| AFFINION GROUP INC 07.8750 12/15/2018 | 0.18% |
| CHAPARRAL ENERGY INC 09.8750 10/01/2020 | 0.18% |
| CIT GROUP INC P/P 144A 05.5000 02/15/2019 | 0.18% |
| CONVATEC FIN INTL SA P/P 144A 08.2500 01/15/2019 | 0.18% |
| EPR PROPERTIES 05.7500 CUM CV PFD | 0.18% |
| FIELDWOOD ENERGY 2NDL L+713 08.3750 09/30/2020 | 0.18% |
| FORUM ENERGY TEC P/P 144A 06.2500 10/01/2021 | 0.18% |
| FRESENIUS MED CARE P/P 144A 05.6250 07/31/2019 | 0.18% |
| GMAC CAPITAL TRUST I PCT 08.1250 | 0.18% |
| HOWARD HUGHES CORP P/P 144A 06.8750 10/01/2021 | 0.18% |
| ISLE OF CAPRI 07.7500 03/15/2019 | 0.18% |
| MANITOWOC COMPANY INC 05.8750 10/15/2022 | 0.18% |
| MPT OPER PARTNERSP/FINL 06.3750 02/15/2022 | 0.18% |
| NIELSEN CO LUX SARL P/P 144A 5.500 10/01/2021 | 0.18% |
| NORTHERN OIL 08.0000 06/01/2020 | 0.18% |
| PERSTORP HOLDING AB P/P 144A 08.7500 05/15/2017 | 0.18% |
| PITTSBURGH GLASS P/P 144A 08.0000 11/15/2018 | 0.18% |
| SCHAEFFLER HLDG FIN P/P 144A 06.8750 08/15/2018 | 0.18% |
| SHELF DRILL HOLD LTD P/P 144A 08.6250 11/01/2018 | 0.18% |
| ALCATEL-LUCENT USA I P/P 144A 06.7500 11/15/2020 | 0.17% |
| AURORA USA OIL & GAS P/P 144A 09.8750 02/15/2017 | 0.17% |
| AVIV HEALTHCARE P/P 144A 06.0000 10/15/2021 | 0.17% |
| BOISE CASCADE 06.3750 11/01/2020 | 0.17% |
| CENTURYLINK INC 06.7500 12/01/2023 | 0.17% |
| CHINOS INT HLDS P/P 144A 07.7500 05/01/2019 | 0.17% |
| CLEAR CHNL WORLD 06.5000 11/15/2022 | 0.17% |
| CNG HOLDINGS INC P/P 144A 09.3750 05/15/2020 | 0.17% |
| COMMUNITY CHOICE 10.7500 05/01/2019 | 0.17% |
| CONVATEC HEALTHCARE P/P 144A 10.5000 12/15/2018 | 0.17% |
| DEMATIC SA / DH P/P 144A 07.7500 12/15/2020 | 0.17% |
| DISH DBS CORP 07.8750 09/01/2019 | 0.17% |
| ENTERCOM RADIO LLC 10.5000 12/01/2019 | 0.17% |
| GLP CAP LP / FIN II P/P 144A 04.8750 11/01/2020 | 0.17% |
| GRAFTECH INTL 06.3750 11/15/2020 | 0.17% |
| IASIS HEALTHCARE 08.3750 05/15/2019 | 0.17% |
| IRON MOUNTAIN INCORPORATED 06.0000 08/15/2023 | 0.17% |
| LANDRY'S INC P/P 144A 09.3750 05/01/2020 | 0.17% |
| LEVEL 3 FIN INC 08.6250 07/15/2020 | 0.17% |
| MEDIACOM LLC/CAPTL 07.2500 02/15/2022 | 0.17% |
| MILAGRO OIL & GAS 10.5000 05/15/2016 | 0.17% |
| NATIONSTAR MORT/ 07.8750 10/01/2020 | 0.17% |
| NEWFIELD EXPLORATION CO 05.7500 01/30/2022 | 0.17% |
| PAETEC HOLDING CORP 09.8750 12/01/2018 | 0.17% |
| PHH CORP 06.3750 08/15/2021 | 0.17% |
| SOFTBRANDS/ATLAN 11.5000 07/15/2018 | 0.17% |
| SPECTRUM BRANDS HLDG 06.7500 03/15/2020 | 0.17% |
| STEWART ENTERPRISES 06.5000 04/15/2019 | 0.17% |
| UNIT CORP 06.6250 05/15/2021 | 0.17% |
| USG CORPORATION 09.7500 01/15/2018 | 0.17% |
| ASURION TL L+950 11.0000 09/02/2019 | 0.16% |
| BERRY PLASTICS CORPORATION 09.5000 05/15/2018 | 0.16% |
| BROOKFIELD RESID P/P 144A 06.5000 12/15/2020 | 0.16% |
| BURGER KING CORP 09.8750 10/15/2018 | 0.16% |
| CAPSUGEL SA P/P 144A 07.0000 05/15/2019 | 0.16% |
| CEMEX SAB DE CV P/P 144A 06.5000 12/10/2019 | 0.16% |
| CUMULUS MEDIA HLDG 07.7500 05/01/2019 | 0.16% |
| GESTAMP FUND LUX SA P/P 144A 05.6250 05/31/2020 | 0.16% |
| GRAPHIC PACKAGING INTL 04.7500 04/15/2021 | 0.16% |
| HANESBRANDS INC. 06.3750 12/15/2020 | 0.16% |
| HEXION FIN/ESCRO 08.8750 02/01/2018 | 0.16% |
| HILAND PART LP/CORP P/P 144A 07.2500 10/01/2020 | 0.16% |
| INTL LEASE FINANCE CORP 05.8750 08/15/2022 | 0.16% |
| JAGUAR HLD/MERGE P/P 144A 09.5000 12/01/2019 | 0.16% |
| MOMENTIVE PERFORM 08.8750 10/15/2020 | 0.16% |
| NORTEK INC 08.5000 04/15/2021 | 0.16% |
| POLYPORE INTL I 07.5000 11/15/2017 | 0.16% |
| QWEST CORP 07.2500 09/15/2025 | 0.16% |
| SINCLAIR TELEVISION P/P 144A 06.3750 11/01/2021 | 0.16% |
| SUN MERGER SUB INC P/P 144A 05.2500 08/01/2018 | 0.16% |
| TERVITA CORP TLB L+500 06.2500 01/24/2018 | 0.16% |
| THERMADYNE HLDG CORP 09.0000 12/15/2017 | 0.16% |
| TRIBUNE CO/NEW | 0.16% |
| UNITED RENTALS NORTH 07.6250 04/15/2022 | 0.16% |
| WINDSTREAM CORPORATION 07.8750 11/01/2017 | 0.16% |
| ACADIA HEALTH P/P 144A 06.1250 03/15/2021 | 0.15% |
| ALLY FINANCIAL INC 08.0000 12/31/2018 | 0.15% |
| ARDAGH PKG FIN P/P 144A 07.0000 11/15/2020 | 0.15% |
| BBVA INTL PREF UNIPERSON USD 05.9190 04/29/2049 | 0.15% |
| BEAZER HOMES USA 08.1250 06/15/2016 | 0.15% |
| CABLEVISION SYSTEMS 08.6250 09/15/2017 | 0.15% |
| CCM MERGER INC P/P 144A 09.1250 05/01/2019 | 0.15% |
| CHS/COMMUNITY HEALTH SYS 05.1250 08/15/2018 | 0.15% |
| CPG MERGER SUB LLC P/P 144A 08.0000 10/01/2021 | 0.15% |
| EMERGENCY MEDICAL TLB L+300 04.0000 05/25/2018 | 0.15% |
| FORBES ENERGY SVCS 09.0000 06/15/2019 | 0.15% |
| LIBERTY MUTUAL GROUP P/P 144A 07.8000 03/15/2037 | 0.15% |
| MEG ENERGY CORP P/P 144A 06.5000 03/15/2021 | 0.15% |
| OASIS PETROLEUM INC P/P 144A 06.8750 03/15/2022 | 0.15% |
| OFFSHORE GROUP I USD 07.1250 04/01/2023 | 0.15% |
| ONEX USI ACQ COR P/P 144A 07.7500 01/15/2021 | 0.15% |
| PROVIDENT FDG/PFG P/P 144A 06.7500 06/15/2021 | 0.15% |
| RYERSON INC / JOSEPH 09.0000 10/15/2017 | 0.15% |
| SMITHFIELD FOODS INC. 06.6250 08/15/2022 | 0.15% |
| TRAVELPORT TL2 2ND 08.3750 12/01/2016 | 0.15% |
| UNIVISION COMM INC. P/P 144A 08.5000 05/15/2021 | 0.15% |
| ANTERO RESOURCES FIN P/P 144A 05.3750 11/01/2021 | 0.14% |
| CEMEX SAB DE CV P/P 144A 05.8750 03/25/2019 | 0.14% |
| CHESAPEAKE ENERGY CORP 09.5000 02/15/2015 | 0.14% |
| CIT GROUP INC 05.3750 05/15/2020 | 0.14% |
| CLAIRE'S STORES INC 08.8750 03/15/2019 | 0.14% |
| CONSTELLATION BRANDS INC 04.2500 05/01/2023 | 0.14% |
| DISH NETWORK CORP-A | 0.14% |
| EUR/USD 03/19/2014 JPMCB | 0.14% |
| FIRST DATA CORP P/P 144A 11.2500 01/15/2021 | 0.14% |
| HJ HEINZ TLB2 L+250 03.5000 03/27/2020 | 0.14% |
| JAZZ TECH INC 08.0000 06/30/2015 | 0.14% |
| KRATOS DEFENSE & SEC 10.0000 06/01/2017 | 0.14% |
| MGM RESORTS INTL 08.6250 02/01/2019 | 0.14% |
| MICHAELS FINCO HLDG P/P 144A 07.5000 08/01/2018 | 0.14% |
| PQ CORP P/P 144A 08.7500 05/01/2018 | 0.14% |
| PRESTIGE BRANDS INC P/P 144A 05.3750 12/15/2021 | 0.14% |
| QWEST CORP 06.7500 12/01/2021 | 0.14% |
| RIVERS PITTSBURGH LP P/P 144A 09.5000 06/15/2019 | 0.14% |
| ROOFING SUPPLY/FIN P/P 144A 10.0000 06/01/2020 | 0.14% |
| SIX FLAGS ENT P/P 144A 05.2500 01/15/2021 | 0.14% |
| SPRINT COMMUNICATIONS INC. 08.3750 08/15/2017 | 0.14% |
| TENET HEALTHCARE 04.3750 10/01/2021 | 0.14% |
| TRAVELPORT LLC 11.8750 09/01/2016 | 0.14% |
| TRIUMPH GROUP INC 04.8750 04/01/2021 | 0.14% |
| TRONOX FINANCE LLC 06.3750 08/15/2020 | 0.14% |
| WALTER INV MGMT P/P 144A 07.8750 12/15/2021 | 0.14% |
| WATCO COS LLC/FI P/P 144A 06.3750 04/01/2023 | 0.14% |
| ALLY FINANCIAL INC 08.0000 03/15/2020 | 0.13% |
| ALLY FINANCIAL INC 08.0000 11/01/2031 | 0.13% |
| ALLY FINANCIAL INC. 07.5000 09/15/2020 | 0.13% |
| AMSURG CORP 05.6250 11/30/2020 | 0.13% |
| ARDENT HEALTH 1STL L+525 06.7500 05/02/2018 | 0.13% |
| BIOMET INC 06.5000 10/01/2020 | 0.13% |
| CALPINE CORP | 0.13% |
| CCO HLDGS LLC/CAP CORP 05.2500 09/30/2022 | 0.13% |
| CCO HLDGS LLC/CAP CORP 07.0000 01/15/2019 | 0.13% |
| CEMEX FINANCE LLC P/P 144A 09.3750 10/12/2022 | 0.13% |
| CITYCENTER TLB L+400 05.0000 09/30/2020 | 0.13% |
| ENERGY TRANSFER EQUITY 07.5000 10/15/2020 | 0.13% |
| EVEREST ACQ LLC/FIN 06.8750 05/01/2019 | 0.13% |
| FIRST DATA CORP P/P 144A 07.3750 06/15/2019 | 0.13% |
| GANNETT CO INC P/P 144A 05.1250 10/15/2019 | 0.13% |
| GRIFFEY INTR INC P/P 144A 07.0000 10/15/2020 | 0.13% |
| HUGHES SATELITE SYSTEMS 06.5000 06/15/2019 | 0.13% |
| HUNTSMAN CORP | 0.13% |
| IAMGOLD CORP P/P 144A 06.7500 10/01/2020 | 0.13% |
| JARDEN CORP | 0.13% |
| LAMAR MEDIA CORP 05.8750 02/01/2022 | 0.13% |
| MATTAMY GROUP CORP P/P 144A 06.5000 11/15/2020 | 0.13% |
| MGM RESORTS INTL 06.7500 10/01/2020 | 0.13% |
| NEUBERGER BERMAN P/P 144A 05.8750 03/15/2022 | 0.13% |
| NII INTL TELECOM P/P 144A 07.8750 08/15/2019 | 0.13% |
| NUVEEN INVESTMENTS P/P 144A 09.5000 10/15/2020 | 0.13% |
| OMEGA HLTHCRE INVEST 06.7500 10/15/2022 | 0.13% |
| PROVIDENT FDG/PFG P/P 144A 10.1250 02/15/2019 | 0.13% |
| SEALED AIR CORP P/P 144A 06.5000 12/01/2020 | 0.13% |
| SWIFT SVCS HLDGS INC 10.0000 11/15/2018 | 0.13% |
| UNITED TECHNOLOGIES CORP 07.5000 CUM CV PFD | 0.13% |
| UNIVISION COMM P/P 144A 07.8750 11/01/2020 | 0.13% |
| ACI WORLDWIDE INC P/P 144A 06.3750 08/15/2020 | 0.12% |
| AES CORPORATION 08.0000 06/01/2020 | 0.12% |
| ALPHA NATURAL RESOURCES 06.2500 06/01/2021 | 0.12% |
| AMERICAN AXLE & MFG HOLDINGS | 0.12% |
| CALFRAC HOLDINGS LP P/P 144A 07.5000 12/01/2020 | 0.12% |
| CCO HLDGS LLC/CAP CORP 07.3750 06/01/2020 | 0.12% |
| CERIDIAN CORP P/P 144A 08.8750 07/15/2019 | 0.12% |
| DIGICEL LIMITED P/P 144A 08.2500 09/01/2017 | 0.12% |
| EL PASO NATURAL GAS 08.6250 01/15/2022 | 0.12% |
| ENERGY FUTURE/EFIH FINAN 10.0000 12/01/2020 | 0.12% |
| ESAL GMBH P/P 144A 06.2500 02/05/2023 | 0.12% |
| EXIDE TECHNOLOGIES 08.6250 02/01/2018 | 0.12% |
| HBOS CAP FUNDING NO2 P/P 144A 06.0710 06/29/2049 | 0.12% |
| ICAHN ENTER/FIN P/P 144A 06.0000 08/01/2020 | 0.12% |
| INEOS GROUP HOLDINGS LTD REGS 07.8750 02/15/2016 | 0.12% |
| ISTAR FINANCIAL INC. 07.1250 02/15/2018 | 0.12% |
| KINETICS/KCI USA 12.5000 11/01/2019 | 0.12% |
| MGM RESORTS INTL 07.7500 03/15/2022 | 0.12% |
| NOVELIS INC 08.7500 12/15/2020 | 0.12% |
| PETCO ANIMAL SUP P/P 144A 09.2500 12/01/2018 | 0.12% |
| QUEBECOR MEDIA INC USD 05.7500 01/15/2023 | 0.12% |
| REGENCY ENERGY PARTNERS 05.5000 04/15/2023 | 0.12% |
| SANDRIDGE ENERGY INC 07.5000 03/15/2021 | 0.12% |
| THE NEIMAN MARCUS GROUP INC. 07.1250 06/01/2028 | 0.12% |
| WILLIAMS COS INC 07.7500 06/15/2031 | 0.12% |
| BOMBARDIER INC P/P 144A 07.7500 03/15/2020 | 0.11% |
| CINEMARK USA INC 07.3750 06/15/2021 | 0.11% |
| CNO FIN GRP INC P/P 144A 06.3750 10/01/2020 | 0.11% |
| CONCHO RESOURCES INC 05.5000 04/01/2023 | 0.11% |
| CONNACHER OIL AND GA P/P 144A 08.5000 08/01/2019 | 0.11% |
| CROWN AMER/CAP CORP 04.5000 01/15/2023 | 0.11% |
| DENBURY RESOURCES INC 06.3750 08/15/2021 | 0.11% |
| DFC GLOBAL CORP CV 03.2500 04/15/2017 | 0.11% |
| EPE HLD/EP BOND P/P 144A 08.8750 12/15/2017 | 0.11% |
| EPICOR SOFTWARE CORP 08.6250 05/01/2019 | 0.11% |
| EUR/USD 03/19/2014 SSBT | 0.11% |
| FMG RES AUG 2006 P/P 144A 08.2500 11/01/2019 | 0.11% |
| FREESCALE SEMICO 10.7500 08/01/2020 | 0.11% |
| GIBSON BRANDS INC P/P 144A 08.8750 08/01/2018 | 0.11% |
| GULFPORT ENERGY CORP | 0.11% |
| HUNTSMAN INTERNATION 08.6250 03/15/2020 | 0.11% |
| INTELSAT JACKSON HLDG USD 07.5000 04/01/2021 | 0.11% |
| JELD-WEN INC P/P 144A 12.2500 10/15/2017 | 0.11% |
| LANDRY'S HLDG II INC P/P 144A 10.2500 01/01/2018 | 0.11% |
| LIBBEY GLASS INC 06.8750 05/15/2020 | 0.11% |
| LYONDELLBASELL INDU-CL A | 0.11% |
| MEADWESTVACO CORP | 0.11% |
| NEW GOLD INC P/P 144A 07.0000 04/15/2020 | 0.11% |
| OASIS PETROLEUM INC 06.8750 01/15/2023 | 0.11% |
| PEABODY ENERGY CORP 06.0000 11/15/2018 | 0.11% |
| PENN NATL GAMING P/P 144A 05.8750 11/01/2021 | 0.11% |
| REXEL SA P/P 144A 06.1250 12/15/2019 | 0.11% |
| SBA TELECOMMUNICATIONS 08.2500 08/15/2019 | 0.11% |
| SM ENERGY CO 06.6250 02/15/2019 | 0.11% |
| SPRINT COMMUNICATIONS 07.0000 08/15/2020 | 0.11% |
| TOWNSQUARE RADIO P/P 144A 09.0000 04/01/2019 | 0.11% |
| TRAVELPORT LLC P/P 144A 13.8750 03/01/2016 | 0.11% |
| UNITED CONTINENTAL HLDGS 06.0000 12/01/2020 | 0.11% |
| UNITYMEDIA HESSEN P/P 144A 07.5000 03/15/2019 | 0.11% |
| ALLY FINANCIAL INC | 0.10% |
| ATWOOD OCEANICS INC 06.5000 02/01/2020 | 0.10% |
| CELANESE US HOLDINGS LLC 04.6250 11/15/2022 | 0.10% |
| CSC HOLDINGS LLC 06.7500 11/15/2021 | 0.10% |
| DEL MONTE 2NDL L+725 08.2500 05/26/2021 | 0.10% |
| DELPHI AUTOMOTIVE PLC | 0.10% |
| DISH DBS CORPORATION 06.7500 06/01/2021 | 0.10% |
| ELIZABETH ARDEN INC | 0.10% |
| FMG RES AUG 2006 P/P 144A 06.8750 04/01/2022 | 0.10% |
| HERTZ CORP 06.2500 10/15/2022 | 0.10% |
| HEXION US FIN/NOVA 09.0000 11/15/2020 | 0.10% |
| KINDER MORGAN P/P 144A 05.0000 02/15/2021 | 0.10% |
| LEVEL 3 FIN INC 07.0000 06/01/2020 | 0.10% |
| LOUISIANA PACIF 07.5000 06/01/2020 | 0.10% |
| MPH INTERMEDIATE HLD P/P 144A 08.3750 08/01/2018 | 0.10% |
| NEIMAN MARCUS GROUP P/P 144A 08.0000 10/15/2021 | 0.10% |
| NUVEEN INVESTMENTS P/P 144A 09.1250 10/15/2017 | 0.10% |
| OXEA SARL 2NDL L+725 08.2500 06/01/2020 | 0.10% |
| PAR PHARMACEUTICAL TLB L+325 04.2500 09/28/2019 | 0.10% |
| POST HOLDINGS INC 07.3750 02/15/2022 | 0.10% |
| RANGE RESOURCES CORP 06.7500 08/01/2020 | 0.10% |
| RENT-A-CENTER INC 04.7500 05/01/2021 | 0.10% |
| REYNOLDS GRP ISS/REY 05.7500 10/15/2020 | 0.10% |
| ROSETTA RESOURCES INC 05.6250 05/01/2021 | 0.10% |
| ROYAL BK SCOTLND GRP PLC USD 06.0000 12/19/2023 | 0.10% |
| SABINE PASS LIQU P/P 144A 06.2500 03/15/2022 | 0.10% |
| SCHAEFFLER FIN BV P/P 144A 04.7500 05/15/2021 | 0.10% |
| SEALED AIR CORP P/P 144A 05.2500 04/01/2023 | 0.10% |
| SERVICE CORP INTL 07.0000 05/15/2019 | 0.10% |
| SMURFIT KAPPA TREASURY USD 07.5000 11/20/2025 | 0.10% |
| SPRINGLEAF FIN CORP 06.0000 06/01/2020 | 0.10% |
| TENET HEALTHCARE P/P 144A 06.0000 10/01/2020 | 0.10% |
| TENNECO INC 06.8750 12/15/2020 | 0.10% |
| TRANSDIGM INC 05.5000 10/15/2020 | 0.10% |
| VANTAGE DRILLING CO | 0.10% |
| AVAYA INC P/P 144A 10.5000 03/01/2021 | 0.09% |
| B&G FOODS INC 04.6250 06/01/2021 | 0.09% |
| BERRY PLASTICS CORP 09.7500 01/15/2021 | 0.09% |
| BON-TON DEPT STORES 10.6250 07/15/2017 | 0.09% |
| BROOKFIELD RESID PRO P/P 144A 06.1250 07/01/2022 | 0.09% |
| CEDAR FAIR LP/CA 05.2500 03/15/2021 | 0.09% |
| CHESAPEAKE ENERGY CORP 06.2500 01/15/2017 | 0.09% |
| CHESAPEAKE MIDSTREAM 05.8750 04/15/2021 | 0.09% |
| CIT GROUP INC | 0.09% |
| CIT GROUP INC 05.0000 08/01/2023 | 0.09% |
| CITIGROUP INC 04.7500 02/10/2019 | 0.09% |
| CONCHO RESOURCES INC 05.5000 10/01/2022 | 0.09% |
| CONSTELLATION BRANDS INC 06.0000 05/01/2022 | 0.09% |
| CROWN CASTLE INTL CORP 07.1250 11/01/2019 | 0.09% |
| DELPHI CORP 05.0000 02/15/2023 | 0.09% |
| DEMATIC TL L+400 05.2500 11/30/2019 | 0.09% |
| EXOPACK HOLDINGS SA P/P 144A 07.8750 11/01/2019 | 0.09% |
| GANNETT CO INC P/P 144A 05.1250 07/15/2020 | 0.09% |
| IRON MOUNTAIN INC 07.7500 10/01/2019 | 0.09% |
| JAGUAR HOLDING CO I P/P 144A 09.3750 10/15/2017 | 0.09% |
| L BRANDS INC 05.6250 02/15/2022 | 0.09% |
| M/I HOMES INC PCT 09.7500 | 0.09% |
| MEG ENERGY CORP P/P 144A 06.3750 01/30/2023 | 0.09% |
| MGM RESORTS INTL 06.8750 04/01/2016 | 0.09% |
| NATIONSTAR MORT/CAP 09.6250 05/01/2019 | 0.09% |
| NEUBERGER BERMAN P/P 144A 05.6250 03/15/2020 | 0.09% |
| PPDI TLB L+300 04.0000 12/05/2018 | 0.09% |
| PULTEGROUP INC. 07.8750 06/15/2032 | 0.09% |
| REGENCY ENERGY P 04.5000 11/01/2023 | 0.09% |
| RITE AID CORP 10.2500 10/15/2019 | 0.09% |
| SM ENERGY CO 06.5000 11/15/2021 | 0.09% |
| TENNECO INC 07.7500 08/15/2018 | 0.09% |
| TITAN INTL INC P/P 144A 06.8750 10/01/2020 | 0.09% |
| VALEANT PHARMA P/P 144A 06.8750 12/01/2018 | 0.09% |
| WIND ACQUISITION FIN P/P 144A 11.7500 07/15/2017 | 0.09% |
| YONKERS RACING 1STL L+325 04.2500 07/22/2019 | 0.09% |
| AFFINION INV LLC P/P 144A 13.5000 08/15/2018 | 0.08% |
| ALLEGION US HLDG CO P/P 144A 05.7500 10/01/2021 | 0.08% |
| AUTONATION INC 06.7500 04/15/2018 | 0.08% |
| BUILDING MATERIALS P/P 144A 06.7500 05/01/2021 | 0.08% |
| CHURCHILL DOWNS INC P/P 144A 05.3750 12/15/2021 | 0.08% |
| CIT GROUP INC P/P 144A 06.6250 04/01/2018 | 0.08% |
| ENDO FINANCE CO P/P 144A 05.7500 01/15/2022 | 0.08% |
| ENERGY FUTURE P/P 144A 10.0000 12/01/2020 | 0.08% |
| FERRO CORP 07.8750 08/15/2018 | 0.08% |
| HBOS PLC P/P 144A 06.0000 11/01/2033 | 0.08% |
| HEALTHCARE TECH IN P/P 144A 07.3750 09/01/2018 | 0.08% |
| HERTZ CORP 05.8750 10/15/2020 | 0.08% |
| HILTON WORLDWIDE HOLDINGS IN | 0.08% |
| INEOS FINANCE PLC P/P 144A 08.3750 02/15/2019 | 0.08% |
| INTELSAT JACKSON USD 06.6250 12/15/2022 | 0.08% |
| ISLE OF CAPRI 08.8750 06/15/2020 | 0.08% |
| JO-ANN HOLDCO P/P 144A 09.7500 10/15/2019 | 0.08% |
| METLIFE INC | 0.08% |
| METLIFE INC 05.0000 CV PFD | 0.08% |
| NATIONSTAR MORT/ 06.5000 07/01/2021 | 0.08% |
| RANGE RESOURCES CORP 05.0000 08/15/2022 | 0.08% |
| RITE AID 2NDL L+387.5 04.8750 06/07/2021 | 0.08% |
| SABINE PASS LNG LP 06.5000 11/01/2020 | 0.08% |
| SCHAEFFLER FIN BV P/P 144A 07.7500 02/15/2017 | 0.08% |
| T-MOBILE USA INC 06.6330 04/28/2021 | 0.08% |
| TEXAS COMP/TCEH P/P 144A 11.5000 10/01/2020 | 0.08% |
| THE HERTZ CORPORATION 07.5000 10/15/2018 | 0.08% |
| TPC GROUP INC P/P 144A 08.7500 12/15/2020 | 0.08% |
| VIRGIN MEDIA FIN PLC P/P 144A 06.3750 04/15/2023 | 0.08% |
| WINDSTREAM CORP 06.3750 08/01/2023 | 0.08% |
| ARCELORMITTAL USD 07.5000 10/15/2039 | 0.07% |
| AVIS BUDGET CAR 05.5000 04/01/2023 | 0.07% |
| AVIS BUDGET CAR 09.7500 03/15/2020 | 0.07% |
| BEV PACK HLDS LU/ISS P/P 144A 06.0000 06/15/2017 | 0.07% |
| BJ'S WHOLESALE 2NDL L+750 08.5000 03/31/2020 | 0.07% |
| CABLEVISION SYSTEMS CORP 07.7500 04/15/2018 | 0.07% |
| CEMEX SAB DE CV P/P 144A 07.2500 01/15/2021 | 0.07% |
| CHS/COMMUNITY HEALTH 08.0000 11/15/2019 | 0.07% |
| FELCOR LODGING LP 10.0000 10/01/2014 | 0.07% |
| GLP CAP LP / FIN II P/P 144A 04.3750 11/01/2018 | 0.07% |
| GULFPORT ENERGY CORP 07.7500 11/01/2020 | 0.07% |
| HARRAHS-INCR TLB L+750 09.5000 10/31/2016 | 0.07% |
| HERCULES OFFSHORE P/P 144A 08.7500 07/15/2021 | 0.07% |
| HUNTSMAN INTL L P/P 144A 05.1250 04/15/2021 | 0.07% |
| LEVEL 3 FIN INC P/P 144A 06.1250 01/15/2021 | 0.07% |
| LIN TELEVISION CORP 06.3750 01/15/2021 | 0.07% |
| NATIONAL MONEY MART USD 10.3750 12/15/2016 | 0.07% |
| NATIONSTAR MORT/CAP CORP 06.5000 08/01/2018 | 0.07% |
| NEWFIELD EXPLORATION CO 07.1250 05/15/2018 | 0.07% |
| NIELSEN FIN LLC/CO 04.5000 10/01/2020 | 0.07% |
| PETCO HOLDINGS INC P/P 144A 08.5000 10/15/2017 | 0.07% |
| REGAL ENTERTAINMENT GRP 05.7500 02/01/2025 | 0.07% |
| REYNOLDS GRP ISS/REY 07.8750 08/15/2019 | 0.07% |
| RITE AID CORP 08.0000 08/15/2020 | 0.07% |
| SCHAEFFLER FIN BV P/P 144A 08.5000 02/15/2019 | 0.07% |
| SERVICE CORP INTL P/P 144A 05.3750 01/15/2022 | 0.07% |
| SEVEN GENS ENER P/P 144A 08.2500 05/15/2020 | 0.07% |
| SINCLAIR TELE 05.3750 04/01/2021 | 0.07% |
| SINCLAIR TELEVISION 06.1250 10/01/2022 | 0.07% |
| SMURFIT KAPPA ACQ P/P 144A 04.8750 09/15/2018 | 0.07% |
| STANDARD PACIFIC CORP 06.2500 12/15/2021 | 0.07% |
| SUNGARD DATA SYSTEMS INC. 07.6250 11/15/2020 | 0.07% |
| T-MOBILE USA INC 06.1250 01/15/2022 | 0.07% |
| T-MOBILE USA INC P/P 144A 05.2500 09/01/2018 | 0.07% |
| VIRGIN MEDIA SEC P/P 144A 05.3750 04/15/2021 | 0.07% |
| WIND ACQ FIN S.A. REGS 07.3750 02/15/2018 | 0.07% |
| WINDSTREAM CORP 07.7500 10/01/2021 | 0.07% |
| WPX ENERGY INC 06.0000 01/15/2022 | 0.07% |
| AES CORPORATION 04.8750 05/15/2023 | 0.06% |
| AINSWORTH LUMBER LTD P/P 144A 07.5000 12/15/2017 | 0.06% |
| AMERICAN INTL GROUP 08.1750 05/15/2058 | 0.06% |
| AUTONATION INC 05.5000 02/01/2020 | 0.06% |
| B/E AEROSPACE INC 05.2500 04/01/2022 | 0.06% |
| BARRY CALLE SVCS P/P 144A 05.5000 06/15/2023 | 0.06% |
| CCO HLDGS LLC/CAP CORP 06.6250 01/31/2022 | 0.06% |
| CIT GROUP INC 05.0000 08/15/2022 | 0.06% |
| COMMERZBANK AG P/P 144A 08.1250 09/19/2023 | 0.06% |
| CONVATEC HEALTHCARE P/P 144A 07.3750 12/15/2017 | 0.06% |
| CPG INTL TLB L+375 04.7500 09/30/2020 | 0.06% |
| CYRUSONE LP/CYRU 06.3750 11/15/2022 | 0.06% |
| ELDORADO GOLD CORP P/P 144A 06.1250 12/15/2020 | 0.06% |
| EP ENER/EVEREST 07.7500 09/01/2022 | 0.06% |
| GENON ENERGY INC 09.5000 10/15/2018 | 0.06% |
| GENON ENERGY INC 09.8750 10/15/2020 | 0.06% |
| HCA INC 07.5000 02/15/2022 | 0.06% |
| HERCULES OFFSHORE P/P 144A 07.5000 10/01/2021 | 0.06% |
| HEXION US FIN CORP 06.6250 04/15/2020 | 0.06% |
| INFOR GLOBAL SOLUT 09.3750 04/01/2019 | 0.06% |
| INTL LEASE FINANCE CORP 04.6250 04/15/2021 | 0.06% |
| INTL LEASE FINANCE CORP 06.2500 05/15/2019 | 0.06% |
| ISLE OF CAPRI CASINO 05.8750 03/15/2021 | 0.06% |
| LENNAR CORP 04.7500 11/15/2022 | 0.06% |
| MIRANT AMERICAS GENR LLC 09.1250 05/01/2031 | 0.06% |
| OWENS CORNING INC 09.0000 06/15/2019 | 0.06% |
| PLAINS EXPLORATION & PRO 06.1250 06/15/2019 | 0.06% |
| SALIX PHARMA LT P/P 144A 06.0000 01/15/2021 | 0.06% |
| SBA TELECOM INC 05.7500 07/15/2020 | 0.06% |
| TAYLOR MORRISON COMM P/P 144A 05.2500 04/15/2021 | 0.06% |
| UNITED SURGICAL PART 09.0000 04/01/2020 | 0.06% |
| VANTAGE DRILLING TLB L+450 05.7500 03/28/2019 | 0.06% |
| WILLIAMS COS INC 07.8750 09/01/2021 | 0.06% |
| BOMBARDIER INC P/P 144A 06.1250 01/15/2023 | 0.05% |
| BON-TON DEPT STORES 08.0000 06/15/2021 | 0.05% |
| CAESARS ENTERTAINMENT OP 11.2500 06/01/2017 | 0.05% |
| CALPINE CORP P/P 144A 06.0000 01/15/2022 | 0.05% |
| CHESAPEAKE ENERGY CORP 05.7500 03/15/2023 | 0.05% |
| CINEMARK USA INC 05.1250 12/15/2022 | 0.05% |
| CLAIRE'S STORES INC P/P 144A 06.1250 03/15/2020 | 0.05% |
| EUR/USD 03/19/2014 UBS | 0.05% |
| FELCOR LODGING LP 05.6250 03/01/2023 | 0.05% |
| FIRST DATA CORP P/P 144A 11.7500 08/15/2021 | 0.05% |
| FRONTIER COMMUNICATIONS 07.6250 04/15/2024 | 0.05% |
| GENERAL MOTORS-CW16 | 0.05% |
| GETTY IMAGES TLB L+350 04.7500 10/18/2019 | 0.05% |
| HALCON RESOURCES CORP 09.7500 07/15/2020 | 0.05% |
| INEOS FINANCE PLC P/P 144A 07.5000 05/01/2020 | 0.05% |
| JBS USA LLC/JBS USA P/P 144A 07.2500 06/01/2021 | 0.05% |
| JC PENNEY TL L+500 06.0000 05/01/2018 | 0.05% |
| K HOVNANIAN ENTR P/P 144A 07.2500 10/15/2020 | 0.05% |
| MOMENTIVE PERFORM 10.0000 10/15/2020 | 0.05% |
| NEW GOLD INC P/P 144A 06.2500 11/15/2022 | 0.05% |
| NUFARM AUSTRALIA LTD P/P 144A 06.3750 10/15/2019 | 0.05% |
| REALOGY GROUP LLC P/P 144A 07.6250 01/15/2020 | 0.05% |
| REGIONS BANK 07.5000 05/15/2018 | 0.05% |
| SCHAEFFLER FINANCE BV REGS 08.7500 02/15/2019 | 0.05% |
| STEEL DYNAMICS INC 07.6250 03/15/2020 | 0.05% |
| TEREX CORP 06.5000 04/01/2020 | 0.05% |
| TERVITA CORP P/P 144A 10.8750 02/15/2018 | 0.05% |
| TMS INTL CORP P/P 144A 07.6250 10/15/2021 | 0.05% |
| TRW AUTOMOTIVE INC P/P 144A 04.5000 03/01/2021 | 0.05% |
| ACADEMY LTD TLB L+300 04.5000 08/03/2018 | 0.04% |
| BUILDING MATERIALS P/P 144A 07.5000 03/15/2020 | 0.04% |
| CALPINE CORP P/P 144A 05.8750 01/15/2024 | 0.04% |
| CEDAR FAIR LP/CA W 09.1250 08/01/2018 | 0.04% |
| CENTURYLINK INC 05.6250 04/01/2020 | 0.04% |
| CORRECTIONS CORP 04.1250 04/01/2020 | 0.04% |
| CORRECTIONS CORP 04.6250 05/01/2023 | 0.04% |
| D.R. HORTON INC 05.7500 08/15/2023 | 0.04% |
| FQM AKUBRA INC P/P 144A 07.5000 06/01/2021 | 0.04% |
| GEN MOTORS FIN P/P 144A 04.2500 05/15/2023 | 0.04% |
| GENERAL MOTORS-CW19 | 0.04% |
| GOLDEN NUGGET TLB L+450 05.5000 10/21/2019 | 0.04% |
| ISTAR FINANCIAL TLA2 L+575 07.0000 03/19/2017 | 0.04% |
| KODIAK OIL & GAS COR 05.5000 02/01/2022 | 0.04% |
| LEVEL 3 FINANCING 08.1250 07/01/2019 | 0.04% |
| MGM RESORTS INTL 06.6250 12/15/2021 | 0.04% |
| SHERIDAN HOLD 2NDL L+725 08.2500 12/31/2021 | 0.04% |
| SPRINGLEAF FIN CORP 07.7500 10/01/2021 | 0.04% |
| STEEL DYNAMICS INC 06.1250 08/15/2019 | 0.04% |
| SUN MERGER SUB INC P/P 144A 05.8750 08/01/2021 | 0.04% |
| TAYLOR MORRISON COMM P/P 144A 07.7500 04/15/2020 | 0.04% |
| TENNESSEE GAS PIPELINE 07.0000 10/15/2028 | 0.04% |
| TRANSDIGM INC 07.5000 07/15/2021 | 0.04% |
| TRIBUNE CLASS 1C LITIGAT | 0.04% |
| TRINIDAD DRILLING P/P 144A 07.8750 01/15/2019 | 0.04% |
| VALEANT PHARMA P/P 144A 07.0000 10/01/2020 | 0.04% |
| WELLS ENTERPRISE P/P 144A 06.7500 02/01/2020 | 0.04% |
| WESCO DISTRIBUTION P/P 144A 05.3750 12/15/2021 | 0.04% |
| WIND ACQUISITION HLD P/P 144A 12.2500 07/15/2017 | 0.04% |
| ACADEMY LTD/ACADEMY P/P 144A 09.2500 08/01/2019 | 0.03% |
| ALCATEL-LUCENT USA INC. 06.4500 03/15/2029 | 0.03% |
| AMERICAN MEDIA INC P/P 144A 13.5000 06/15/2018 | 0.03% |
| BEAZER HOMES USA 07.2500 02/01/2023 | 0.03% |
| BURLINGTON COAT TLB2 L+325 04.2500 02/23/2017 | 0.03% |
| CBRE SERVICES INC 05.0000 03/15/2023 | 0.03% |
| CERIDIAN CORP 12.2500 11/15/2015 | 0.03% |
| CONS CNT CO/CONS CNT P/P 144A 10.1250 07/15/2020 | 0.03% |
| LBG CAPITAL NO.1 PLC P/P 144A 08.0000 12/29/2049 | 0.03% |
| LIBERTY MUTUAL GROUP P/P 144A 07.0000 03/15/2037 | 0.03% |
| PEABODY ENERGY CORPORATION 07.3750 11/01/2016 | 0.03% |
| SM ENERGY CO 06.5000 01/01/2023 | 0.03% |
| STEEL DYNAMICS INC 06.3750 08/15/2022 | 0.03% |
| T-MOBILE USA INC 06.8360 04/28/2023 | 0.03% |
| TELEFLEX INC 06.8750 06/01/2019 | 0.03% |
| USG CORP P/P 144A 05.8750 11/01/2021 | 0.03% |
| VALEANT PHARMA P/P 144A 06.3750 10/15/2020 | 0.03% |
| CABLEVISION SYS CORP 08.0000 04/15/2020 | 0.02% |
| CINEMARK USA INC 04.8750 06/01/2023 | 0.02% |
| EMERGENCY MEDICA 08.1250 06/01/2019 | 0.02% |
| GOLDEN NUGGET DD L+450 05.5000 10/21/2019 | 0.02% |
| HARRY & DAVID HOLDINGS INC | 0.02% |
| HERCULES OFFSHORE P/P 144A 07.1250 04/01/2017 | 0.02% |
| LONE PINE RESOUR USD 10.3750 02/15/2017 | 0.02% |
| POST HOLDINGS INC P/P 144A 07.3750 02/15/2022 | 0.02% |
| QUIKSILVER INC/QS WH 10.0000 08/01/2020 | 0.02% |
| QUIKSILVER INC/QS WH P/P 144A 07.8750 08/01/2018 | 0.02% |
| STEEL DYNAMICS INC 05.2500 04/15/2023 | 0.02% |
| TRW AUTOMOTIVE INC. P/P 144A 07.2500 03/15/2017 | 0.02% |
| SPEC BND ES CORP P/P 144A 06.3750 11/15/2020 | 0.01% |
| SPEC BRNDS ESCROW CO P/P 144A 06.6250 11/15/2022 | 0.01% |
| ADELPHIA COMM ESCROW 0.000 11/15/2012 | 0.00% |
| ADELPHIA COMMUNICATION ESCROW 00.0000 03/01/2014 | 0.00% |
| ADELPHIA COMMUNICATION ESCROW 00.0000 10/01/2013 | 0.00% |
| ADELPHIA COMMUNICATION ESCROW 00.0000 11/01/2014 | 0.00% |
| CHARTER COMM INC CIH WTS | 0.00% |
| DYNEGY HOLDINGS ESCROW 07.7500 06/01/2019 | 0.00% |
| EUR/USD 03/19/2014 GSFX | 0.00% |
| EUR/USD 03/19/2014 GSFX | 0.00% |
| GENERAL MOTORS ESCROW 08.2500 07/15/2023 | 0.00% |
| ISTAR FINANCIAL TL L+350 04.5000 10/15/2017 | 0.00% |
| MOTORS LIQUIDATION CO ESCROW 08.3750 07/15/2033 | 0.00% |
| TOWER SEMI LTD-CW15 P/P 144A | 0.00% |
| TRUMP ENTERTAINMENT RESORTS | 0.00% |
| EUR/USD 03/19/2014 UBS | -0.05% |
| EUR/USD 03/19/2014 SSBT | -0.11% |
| EUR/USD 03/19/2014 JPMCB | -0.14% |
| CAD/USD 01/16/2014 SSBT | -0.18% |
| EUR/USD 03/19/2014 DEUTB-L | -0.25% |
| EUR/USD 03/19/2014 BANKAM | -0.27% |
| GBP/USD 03/19/2014 BCAP-FX | -0.31% |
| EUR/USD 03/19/2014 CSI-FX | -0.38% |
Prior Top 10 Holdings
| Top 10 Holdings as of 01/31/14 | |
|---|---|
| 1: Intelsat Luxemb P/P 144a 07.7500 06/01/2021 | 0.72% |
| 2: Hca 06.5000 02/15/2020 | 0.71% |
| 3: Royal Bk Scotlnd Grp Usd 07.6480 08/29/2049 | 0.54% |
| 4: Slm Corp 08.4500 06/15/2018 | 0.51% |
| 5: Aguila 3 P/P 144a 07.8750 01/31/2018 | 0.47% |
| 6: Springleaf Finance Corp 06.9000 12/15/2017 | 0.46% |
| 7: American Axle Mfg 07.7500 11/15/2019 | 0.45% |
| 8: Avaya P/P 144a 07.0000 04/01/2019 | 0.45% |
| 9: Linn Energy Llc P/P 144a 07.0000 11/01/2019 | 0.45% |
| 10: Sprint Capital Corporation 06.8750 11/15/2028 | 0.45% |
| Holdings represent 5.21% of portfolio | |
| Top 10 Holdings as of 12/31/13 | |
|---|---|
| 1: Intelsat Luxemb P/P 144a 07.7500 06/01/2021 | 0.70% |
| 2: Hca 06.5000 02/15/2020 | 0.69% |
| 3: Royal Bk Scotlnd Grp Usd 07.6480 08/29/2049 | 0.53% |
| 4: Slm Corp 08.4500 06/15/2018 | 0.50% |
| 5: Aguila 3 P/P 144a 07.8750 01/31/2018 | 0.48% |
| 6: First Data Corp 12.6250 01/15/2021 | 0.46% |
| 7: Springleaf Finance Corp 06.9000 12/15/2017 | 0.45% |
| 8: American Axle Mfg 07.7500 11/15/2019 | 0.44% |
| 9: Avaya P/P 144a 07.0000 04/01/2019 | 0.44% |
| 10: Linn Energy Llc P/P 144a 07.0000 11/01/2019 | 0.44% |
| Holdings represent 5.13% of portfolio | |
| Top 10 Holdings as of 11/30/13 | |
|---|---|
| 1: Hca 06.5000 02/15/2020 | 0.69% |
| 2: Intelsat Luxemb P/P 144a 07.7500 06/01/2021 | 0.53% |
| 3: Royal Bk Scotlnd Grp Usd 07.6480 08/29/2049 | 0.52% |
| 4: Slm Corp 08.4500 06/15/2018 | 0.51% |
| 5: First Data Corp 12.6250 01/15/2021 | 0.45% |
| 6: Springleaf Finance Corp 06.9000 12/15/2017 | 0.45% |
| 7: American Axle Mfg 07.7500 11/15/2019 | 0.43% |
| 8: Linn Energy Llc P/P 144a 07.0000 11/01/2019 | 0.43% |
| 9: Softbank Corp P/P 144a 04.5000 04/15/2020 | 0.43% |
| 10: Sprint Capital Corporation 06.8750 11/15/2028 | 0.43% |
| Holdings represent 4.87% of portfolio | |
| Top 10 Holdings as of 10/31/13 | |
|---|---|
| 1: Hca 06.5000 02/15/2020 | 0.69% |
| 2: Intelsat Luxemb P/P 144a 07.7500 06/01/2021 | 0.53% |
| 3: Royal Bk Scotlnd Grp Usd 07.6480 08/29/2049 | 0.51% |
| 4: Slm Corp 08.4500 06/15/2018 | 0.51% |
| 5: Springleaf Finance Corp 06.9000 12/15/2017 | 0.45% |
| 6: American Axle Mfg 07.7500 11/15/2019 | 0.44% |
| 7: First Data Corp 12.6250 01/15/2021 | 0.44% |
| 8: Halcon Resources Cor 08.8750 05/15/2021 | 0.44% |
| 9: Linn Energy Llc P/P 144a 07.0000 11/01/2019 | 0.44% |
| 10: Sprint Capital Corporation 06.8750 11/15/2028 | 0.44% |
| Holdings represent 4.89% of portfolio | |
Sector Weightings as of 01/31/14
| Cash Investment | Non-Cash Investment | Total Portfolio | ||||
|---|---|---|---|---|---|---|
| Weight | Spread Duration | Weight | Spread Duration | Weight | Spread Duration | |
| High-yield corporate bonds | 80.80% | 3.17 | 0.00% | 0.00 | 80.80% | 3.17 |
| Investment-grade corporate bonds | 5.60% | 0.35 | 0.00% | 0.00 | 5.60% | 0.35 |
| Bank loans | 5.37% | 0.22 | 0.00% | 0.00 | 5.37% | 0.22 |
| Net cash | 3.76% | 0.00 | 0.00% | 0.00 | 3.76% | 0.00 |
| Equity investments | 3.55% | 0.01 | 0.00% | 0.00 | 3.55% | 0.01 |
| Emerging-market bonds | 0.92% | 0.04 | 0.00% | 0.00 | 0.92% | 0.04 |
Top Industry Sectors as of 01/31/14
| Consumer cyclicals | 20.77% |
|---|---|
| Energy | 14.00% |
| Financials | 11.10% |
| Communication services | 10.64% |
| Basic materials | 8.69% |
| Health care | 8.25% |
| Consumer staples | 6.52% |
| Capital goods | 6.16% |
| Technology | 4.51% |
| 9.36% |
| Utilities | 4.20% |
|---|---|
| Net Cash | 3.76% |
| Transportation | 1.40% |
0
Country Allocation as of 01/31/14
| United States | 84.62% |
|---|---|
| Luxembourg | 3.65% |
| Canada | 3.63% |
| United Kingdom | 1.74% |
| France | 0.89% |
| Germany | 0.70% |
| Netherlands | 0.64% |
| Mexico | 0.50% |
| Australia | 0.49% |
| 3.14% |
| Jamaica | 0.48% |
|---|---|
| Japan | 0.43% |
| Brazil | 0.42% |
| Cayman Islands | 0.42% |
| Belgium | 0.33% |
| Ireland | 0.33% |
| Bermuda | 0.19% |
| New Zealand | 0.19% |
| Sweden | 0.18% |
| Spain | 0.16% |
| European Community | 0.01% |
0
Portfolio allocations will vary over time. The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Spread duration is displayed in years and reflects the contribution by sector to the portfolio's total spread duration with the exception of the Treasury sector where effective duration is displayed. Spread duration estimates the price sensitivity of a specific sector or asset class to a 100 basis-point movement, 1%, (either widening or narrowing) in its yield spread relative to Treasuries. Effective duration provides a measure of a fund's interest-rate sensitivity. The longer a fund's duration, the more sensitive the fund is to shifts in interest rates.
Maturity detail includes only cash bonds and cash equivalents.
Lower rated bonds may offer higher yields in return for more risk. Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.
Credit qualities are shown as a percentage of net assets. A bond rated Baa or higher (Prime-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor's, Moody's and Fitch. Short-term cash bonds rated A-1+ are included in the AAA-rating category. Ratings and portfolio credit quality will vary over time. Credit quality includes the fixed-income portion of the portfolio. Derivative instruments, including currency forwards, are only included to the extent of any unrealized gain or loss on such instruments and are shown in the not-rated category. Cash is also shown in the not-rated category. The fund itself has not been rated by an independent rating agency.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
Sales Charges/Fees
| Breakpoint | Sales Charge | Dealer Allowance | CDSC Liab |
|---|---|---|---|
| $0 - $0 | 0.00% | 0.00% | N |
CDSC
| Year | Percent |
|---|---|
| 1 | 8.00% |
| 2 | 8.00% |
| 3 | 8.00% |
| 4 | 7.00% |
| 5 | 6.00% |
| 6 | 5.00% |
| 7 | 4.00% |
| 8 | 3.00% |
| 9+ | 0.00% |
Maturity detail includes only cash bonds and cash equivalents.
Lower rated bonds may offer higher yields in return for more risk. Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.
Credit qualities are shown as a percentage of net assets. A bond rated Baa or higher (Prime-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor's, Moody's and Fitch. Short-term cash bonds rated A-1+ are included in the AAA-rating category. Ratings and portfolio credit quality will vary over time. Credit quality includes the fixed-income portion of the portfolio. Derivative instruments, including currency forwards, are only included to the extent of any unrealized gain or loss on such instruments and are shown in the not-rated category. Cash is also shown in the not-rated category. The fund itself has not been rated by an independent rating agency.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.
‡ Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.