George Putnam Balanced Fund (PGEOX)
A prudent balance of stocks and bonds since 1937
Summary
Fund price |
Yesterday's close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$15.62
-0.45% ( $-0.07 ) |
$15.70
(03/07/14) |
$14.04
(03/21/13) |
A prudent balance of stocks and bonds since 1937
- A balanced approach: One of the pioneering mutual funds, the fund has championed a conservative mix of stocks and bonds for 75 years.
- Seeking reduced volatility: The fund's focus on undervalued stocks and primarily high-quality bonds is designed to reduce volatility for conservative and income-oriented investors.
- A rigorous process: The fund's experienced portfolio managers use rigorous fundamental investment research to find opportunities and manage risk.
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit putnam.com.
Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Absolute Return 500 Fund and 700 Fund, and 4.00% and 3.25% for income funds (1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A, M, and T shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Objective
The fund seeks to provide a balanced investment composed of a well-diversified portfolio of stocks and bonds which produce both capital growth and current income.
Fund facts as of 02/28/14
| Fiscal year end | July |
|---|---|
| Asset Class | Value |
| Inception date | 11/05/37 |
| Total net assets | $1,289.55M |
| Dividend frequency | Quarterly |
| View distribution rate | |
| Number of holdings | 551 |
| Open to new investors | |
| CUSIP | 37252M108 |
| Fund code | 0002 |
| Turnover (fiscal year end) | 86% |
| Ticker | PGEOX |
Literature
- Prospectuses/SAI
- Fact Sheet (PDF)
- Annual Fund Report (PDF)
- Semiannual Fund Report (PDF)
- Equity Outlook (PDF)
Related topics
- Learn how the fund's prudent mix of stocks and bonds has produced long-term results (PDF)
- Putnam's Tax Center
- Perspectives
Performance
Total return (%) as of 12/31/13
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 17.76% | 10.77% | 13.70% | 3.77% |
| After sales charge | 10.99% | 8.60% | 12.36% | 3.16% |
| Russell 1000 Value Index | 32.53% | 16.06% | 16.67% | 7.58% |
| Barclays U.S. Aggregate Bond Index | -2.02% | 3.26% | 4.44% | 4.55% |
| Cumulative performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 17.76% | 35.91% | 90.03% | 44.83% |
| After sales charge | 10.99% | 28.09% | 79.11% | 36.50% |
Annual performance as of 12/31/13
| 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Before sales charge | 8.32% | 4.04% | 12.25% | 0.92% | -40.30% | 25.80% | 11.15% | 2.71% | 12.36% | 17.76% |
| Russell 1000 Value Index | 16.49% | 7.05% | 22.25% | -0.17% | -36.85% | 19.69% | 15.51% | 0.39% | 17.51% | 32.53% |
| Barclays U.S. Aggregate Bond Index | 4.34% | 2.43% | 4.33% | 6.97% | 5.24% | 5.93% | 6.54% | 7.84% | 4.22% | -2.02% |
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit putnam.com.
Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Absolute Return 500 Fund and 700 Fund, and 4.00% and 3.25% for income funds (1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A, M, and T shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Performance snapshot
| Before sales charge | After sales charge | |
|---|---|---|
| 1 mt. | 2.78 % | -3.13 % |
| as of 02/28/14 | ||
| YTD | 1.25 % | -4.57 % |
| as of 03/11/14 | ||
Yield
| Distribution rate before sales charge as of 03/11/14 |
1.36% |
|---|---|
| Distribution rate after sales charge as of 03/11/14 |
1.28% |
| 30-day SEC yield as of 02/28/14 (after sales charge) |
1.17% |
Lipper rankings as of 01/31/14
| Balanced | Percentile ranking | Rank/Funds in category |
|---|---|---|
| 1 yr. | 32% | 216/687 |
| 3 yrs. | 17% | 105/636 |
| 5 yrs. | 27% | 159/601 |
| 10 yrs. | 96% | 315/328 |
Morningstar ratings as of 01/31/14
| Moderate Allocation | Rating | Number of funds in category |
|---|---|---|
| Overall | 2 | (739) |
| 3 yrs. | 3 | (739) |
| 5 yrs. | 3 | (671) |
| 10 yrs. | 1 | (426) |
Distributions
| Record/Ex dividend date | 02/26/14 |
|---|---|
| Payable date | 02/28/14 |
| Income | $0.053 |
| Extra income | -- |
| Short-term cap. gain | -- |
| Long-term cap. gain | -- |
Volatility as of 01/31/14
| Standard deviation (3 yrs.) | 7.64% |
|---|---|
| Beta | 0.58 |
| R-squared | 0.97 |
Risk-adjusted performance as of 01/31/14
| Alpha (3 yrs.) | 1.53 |
|---|---|
| Sharpe ratio (3 yrs.) | 1.25 |
| Treynor ratio (3 yrs.) | 16.41 |
| Information ratio (3 yrs.) | -0.76 |
Capture ratio as of 01/31/14
| Up-market (3 yrs.) | 62.91 |
|---|---|
| Down-market (3 yrs.) | 55.83 |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. Data is historical. Past performance is no guarantee of future results.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Holdings
Top 10 holdings as of 01/31/14
| Us Treasury N/B 01.0000 08/31/2016 | 3.16% |
|
|---|---|---|
| Us Treasury N/B 03.5000 02/15/2018 | 2.55% |
|
| Exxon Mobil Corp Sedol 2326618 | 2.27% |
|
| Us Treasury N/B 00.2500 08/31/2014 | 2.14% |
|
| Us Treasury N/B 00.7500 03/31/2018 | 2.09% |
|
| Johnson & Johnson Sedol 2475833 | 1.38% |
|
| Jpmorgan Chase & Co Sedol 2190385 | 1.26% |
|
| Us Treasury N/B 03.0000 09/30/2016 | 1.16% |
|
| Philip Morris International Sedol B2pkrq3 | 1.12% |
|
| Royal Dutch Shell Plc-Adr Sedol B03mm62 | 1.12% |
|
| Top 10 holdings, percent of portfolio | 18.25% |
|
Full portfolio holdings as of 12/31/13
| US TREASURY N/B 03.5000 02/15/2018 | 3.00 % |
|---|---|
| EXXON MOBIL CORP | 2.45 % |
| US TREASURY N/B 00.2500 08/31/2014 | 2.10 % |
| US TREASURY N/B 00.7500 03/31/2018 | 2.03 % |
| JOHNSON & JOHNSON | 1.42 % |
| JPMORGAN CHASE & CO | 1.37 % |
| PHILIP MORRIS INTERNATIONAL | 1.22 % |
| US TREASURY N/B 03.0000 09/30/2016 | 1.14 % |
| ROYAL DUTCH SHELL PLC-ADR | 1.13 % |
| PFIZER INC | 1.08 % |
| BANK OF AMERICA CORP | 1.03 % |
| CITIGROUP INC | 1.00 % |
| US TREASURY N/B 02.0000 02/15/2023 | 0.92 % |
| US BANCORP | 0.91 % |
| HONEYWELL INTERNATIONAL INC | 0.90 % |
| FNMA FN30 AL2146 04.5000 07/01/2042 | 0.89 % |
| FNMA FN30 TBA 03.0000 01/01/2044 | 0.89 % |
| MERCK & CO. INC. | 0.79 % |
| US TREASURY N/B 00.2500 11/30/2014 | 0.75 % |
| GENERAL ELECTRIC CO | 0.73 % |
| CVS CAREMARK CORP | 0.71 % |
| STATE STREET CORP | 0.71 % |
| TIME WARNER INC | 0.70 % |
| GOLDMAN SACHS GROUP INC | 0.69 % |
| COMCAST CORP-CLASS A | 0.67 % |
| METLIFE INC | 0.66 % |
| CISCO SYSTEMS INC | 0.64 % |
| FHLMC FH30G G07084 04.0000 07/01/2042 | 0.64 % |
| FNMA FN30 TBA 04.0000 01/01/2044 | 0.64 % |
| TYCO INTERNATIONAL LTD | 0.64 % |
| UNITEDHEALTH GROUP INC | 0.64 % |
| WELLS FARGO & CO | 0.64 % |
| L-3 COMMUNICATIONS HLDGS INC | 0.63 % |
| BAXTER INTERNATIONAL INC | 0.60 % |
| HARTFORD FINANCIAL SVCS GRP | 0.60 % |
| JOHNSON CONTROLS INC | 0.59 % |
| PRUDENTIAL FINANCIAL INC | 0.59 % |
| TRAVELERS COS INC/THE | 0.57 % |
| CBS CORP-CLASS B NON VOTING | 0.56 % |
| MACY'S INC | 0.56 % |
| MARRIOTT INTERNATIONAL -CL A | 0.56 % |
| AMERICAN INTERNATIONAL GROUP | 0.54 % |
| CHEVRON CORP | 0.54 % |
| RAYTHEON COMPANY | 0.54 % |
| THERMO FISHER SCIENTIFIC INC | 0.54 % |
| MARATHON OIL CORP | 0.53 % |
| UNITED TECHNOLOGIES CORP | 0.52 % |
| VERIZON COMMUNICATIONS INC | 0.52 % |
| ZIMMER HOLDINGS INC | 0.49 % |
| BED BATH & BEYOND INC | 0.48 % |
| CAPITAL ONE FINANCIAL CORP | 0.48 % |
| PROCTER & GAMBLE CO/THE | 0.47 % |
| APPLE INC | 0.45 % |
| GLAXOSMITHKLINE PLC-SPON ADR | 0.45 % |
| WALT DISNEY CO/THE | 0.44 % |
| CME GROUP INC | 0.43 % |
| EATON CORP PLC | 0.43 % |
| INTL BK RECON & DEVELOP 07.6250 01/19/2023 | 0.43 % |
| EMC CORP/MA | 0.42 % |
| FNMA FN30 AB3423 04.5000 08/01/2041 | 0.42 % |
| GOOGLE INC-CL A | 0.42 % |
| CARLYLE GROUP/THE | 0.41 % |
| COVIDIEN PLC | 0.41 % |
| BANK OF NEW YORK MELLON CORP | 0.40 % |
| SANOFI-ADR | 0.40 % |
| MARSH & MCLENNAN COS | 0.39 % |
| NORTHROP GRUMMAN CORP | 0.38 % |
| HALLIBURTON CO | 0.37 % |
| VIACOM INC-CLASS B | 0.37 % |
| FIRSTENERGY CORP | 0.36 % |
| SCHWAB (CHARLES) CORP | 0.36 % |
| ANADARKO PETROLEUM CORP | 0.35 % |
| ILLINOIS TOOL WORKS | 0.34 % |
| ELI LILLY & CO | 0.33 % |
| MICROSOFT CORP | 0.33 % |
| ST JUDE MEDICAL INC | 0.33 % |
| STRYKER CORP | 0.33 % |
| COTY INC-CL A | 0.32 % |
| SUNCOR ENERGY INC | 0.32 % |
| US TREASURY N/B 01.0000 08/31/2016 | 0.32 % |
| AMERICAN EXPRESS CO | 0.31 % |
| DOW CHEMICAL CO/THE | 0.31 % |
| EDISON INTERNATIONAL | 0.31 % |
| FNMA FN30 TBA 03.5000 01/01/2044 | 0.31 % |
| MEDTRONIC INC | 0.31 % |
| P G & E CORP | 0.31 % |
| REGIONS FINANCIAL CORP | 0.31 % |
| AT&T INC | 0.30 % |
| COCA-COLA ENTERPRISES | 0.30 % |
| CONOCOPHILLIPS | 0.30 % |
| FHLMC FH30G U90067 04.0000 08/01/2042 | 0.30 % |
| ORACLE CORP | 0.30 % |
| TEVA PHARMACEUTICAL-SP ADR | 0.30 % |
| CHUBB CORP | 0.29 % |
| QUALCOMM INC | 0.29 % |
| DELTA AIR LINES INC | 0.28 % |
| AGRIUM INC | 0.27 % |
| ASTRAZENECA PLC-SPONS ADR | 0.27 % |
| BB&T CORP | 0.27 % |
| FIFTH THIRD BANCORP | 0.27 % |
| UNITED PARCEL SERVICE-CL B | 0.27 % |
| UNITED TECHNOLOGIES CORP 07.5000 CUM CV PFD | 0.27 % |
| ALTRIA GROUP INC | 0.26 % |
| CIGNA CORP | 0.26 % |
| PNC FINANCIAL SERVICES GROUP | 0.26 % |
| US TREASURY N/B 03.7500 11/15/2043 | 0.26 % |
| GENERAL MILLS INC | 0.25 % |
| INTERNATIONAL PAPER CO | 0.25 % |
| PROGRESSIVE CORP 06.7000 06/15/2037 | 0.25 % |
| VANGUARD FTSE EMERGING MARKE | 0.25 % |
| PULTEGROUP INC | 0.24 % |
| UBS AG STAMFORD CT 07.6250 08/17/2022 | 0.24 % |
| UNION PACIFIC CORP | 0.24 % |
| FORD MOTOR CO | 0.23 % |
| KELLOGG CO | 0.23 % |
| LAM RESEARCH CORP | 0.22 % |
| NEXTERA ENERGY INC | 0.22 % |
| AVALONBAY COMMUNITIES INC | 0.21 % |
| BRISTOL-MYERS SQUIBB CO | 0.21 % |
| DR HORTON INC | 0.21 % |
| ENTERGY CORP | 0.21 % |
| FREEPORT-MCMORAN COPPER | 0.21 % |
| MCDONALD'S CORP | 0.21 % |
| VENTAS INC | 0.21 % |
| AMEREN CORPORATION | 0.20 % |
| AMERICAN ELECTRIC POWER | 0.20 % |
| DUKE ENERGY CORP | 0.20 % |
| PARKER HANNIFIN CORP | 0.20 % |
| UNITED CONTINENTAL HOLDINGS | 0.20 % |
| US TREASURY N/B 01.6250 08/15/2022 | 0.20 % |
| WEYERHAEUSER CO 06.3750 CUM CV PFD | 0.20 % |
| HSBC FIN CAP TRUST IX 05.9110 11/30/2035 | 0.19 % |
| INTEL CORP | 0.19 % |
| MAXIM INTEGRATED PRODUCTS | 0.19 % |
| NUCOR CORP | 0.19 % |
| OCCIDENTAL PETROLEUM CORP | 0.19 % |
| PPL CORPORATION | 0.19 % |
| ZOETIS INC | 0.19 % |
| BARCLAYS BANK PLC P/P 144A 10.1790 06/12/2021 | 0.18 % |
| DR PEPPER SNAPPLE GROUP INC | 0.18 % |
| FNMA FN30 MA1549 04.5000 08/01/2043 | 0.18 % |
| GENERAL MOTORS CO | 0.18 % |
| ING BANK NV P/P 144A 05.8000 09/25/2023 | 0.18 % |
| MICRON TECHNOLOGY INC | 0.18 % |
| TJX COMPANIES INC | 0.18 % |
| FNMA FN30 TBA 05.5000 01/01/2044 | 0.17 % |
| INTL BUSINESS MACHINES CORP | 0.17 % |
| NOVARTIS AG-ADR | 0.17 % |
| OWENS CORNING | 0.17 % |
| PUBLIC STORAGE | 0.17 % |
| QUEST DIAGNOSTICS INC | 0.17 % |
| SOUTHWESTERN ENERGY CO | 0.17 % |
| CALPINE CORP | 0.16 % |
| FHLMC FH30G U99054 04.0000 06/01/2043 | 0.16 % |
| MSC 2012-C4 D P/P 144A 05.5254 03/15/2045 | 0.16 % |
| SUN LIFE FINANCIAL INC | 0.16 % |
| TEXAS INSTRUMENTS INC | 0.16 % |
| TOTAL SA-SPON ADR | 0.16 % |
| WISCONSIN ENERGY CORP 06.2500 05/15/2067 | 0.16 % |
| XILINX INC | 0.16 % |
| ABN AMRO BANK NV P/P 144A 04.2500 02/02/2017 | 0.15 % |
| FNMA FN30 AU4415 04.5000 10/01/2043 | 0.15 % |
| GAMING AND LEISURE PROPERTIE | 0.15 % |
| GENERAL DYNAMICS CORP | 0.15 % |
| GENERAL ELEC CAP CORP 06.7500 03/15/2032 | 0.15 % |
| PEPSICO INC | 0.15 % |
| PPL CORPORATION 08.7500 CV PFD | 0.15 % |
| QEP RESOURCES INC | 0.15 % |
| 3M CO | 0.14 % |
| COLGATE-PALMOLIVE CO | 0.14 % |
| DU PONT (E.I.) DE NEMOURS | 0.14 % |
| HARTFORD FINL SVCS GRP 06.6250 03/30/2040 | 0.14 % |
| JPM CHASE CAPITAL XXIII 01.2406 05/15/2047 | 0.14 % |
| LYONDELLBASELL IND NV 06.0000 11/15/2021 | 0.14 % |
| MASS MUTUAL LIFE P/P 144A 08.8750 06/01/2039 | 0.14 % |
| METLIFE CAP TRST IV P/P 144A 07.8750 12/15/2037 | 0.14 % |
| NOBLE CORP PLC | 0.14 % |
| PPG INDUSTRIES INC | 0.14 % |
| ROYAL BK OF SCOTLAND PLC REGS 09.5000 03/16/2022 | 0.14 % |
| SIEMENS AG-SPONS ADR | 0.14 % |
| WALGREEN CO | 0.14 % |
| ADT CORP/THE | 0.13 % |
| AFLAC INC | 0.13 % |
| BACM 2006-5 A3 05.3900 09/10/2047 | 0.13 % |
| COCA-COLA CO/THE | 0.13 % |
| FORD MOTOR CREDIT CO LLC 08.1250 01/15/2020 | 0.13 % |
| HILTON WORLDWIDE HOLDINGS IN | 0.13 % |
| INVESCO LTD | 0.13 % |
| MEADWESTVACO CORPORATION 07.9500 02/15/2031 | 0.13 % |
| NETAPP INC | 0.13 % |
| SANDISK CORP | 0.13 % |
| SCHNEIDER ELECTRIC SA | 0.13 % |
| TARGET CORP | 0.13 % |
| BARCLAYS BANK PLC P/P 144A 06.0500 12/04/2017 | 0.12 % |
| EMERSON ELECTRIC CO | 0.12 % |
| ERAC USA FINANCE LLC P/P 144A 07.0000 10/15/2037 | 0.12 % |
| FORD MOTOR COMPANY 07.7500 06/15/2043 | 0.12 % |
| MORGAN STANLEY | 0.12 % |
| STATE STREET CAP TR IV 01.2429 06/15/2037 | 0.12 % |
| DOMINION RESOURCES INC/VA | 0.11 % |
| FHLMC FH30G U91989 04.5000 09/01/2043 | 0.11 % |
| HOME DEPOT INC | 0.11 % |
| JP MORGAN CHASE BANK NA 06.0000 10/01/2017 | 0.11 % |
| LORILLARD INC | 0.11 % |
| NORDEA BANK AB P/P 144A 04.8750 05/13/2021 | 0.11 % |
| PHILLIPS 66 | 0.11 % |
| PPL WEM HOLDINGS PLC P/P 144A 05.3750 05/01/2021 | 0.11 % |
| 21ST CENTURY FOX AMERICA 07.7500 01/20/2024 | 0.10 % |
| CAMDEN PROPERTY TRUST 04.8750 06/15/2023 | 0.10 % |
| ILLINOIS-TXBL 04.0710 01/01/2014 | 0.10 % |
| INGERSOLL-RAND PLC | 0.10 % |
| LLOYDS BANK PLC P/P 144A 06.5000 09/14/2020 | 0.10 % |
| PLAINS EXPLORATION & PRO 06.7500 02/01/2022 | 0.10 % |
| SPECTRA ENERGY CAPITAL LLC 06.2000 04/15/2018 | 0.10 % |
| STAPLES INC. 02.7500 01/12/2018 | 0.10 % |
| WACHOVIA BANK NA 06.0000 11/15/2017 | 0.10 % |
| YAHOO! INC | 0.10 % |
| ALCOA INC | 0.09 % |
| ALTRIA GROUP INC 02.8500 08/09/2022 | 0.09 % |
| ANADARKO FINANCE CO 07.5000 05/01/2031 | 0.09 % |
| CAMPBELL SOUP CO 08.8750 05/01/2021 | 0.09 % |
| CBS CORP 07.8750 07/30/2030 | 0.09 % |
| CREDIT SUISSE P/P 144A 06.5000 08/08/2023 | 0.09 % |
| FNMA FN30 734836 05.0000 08/01/2033 | 0.09 % |
| HIGHWOODS REALTY LP 05.8500 03/15/2017 | 0.09 % |
| KRAFT FOODS GRP INC 05.0000 06/04/2042 | 0.09 % |
| LBCMT 1998-C4 H P/P 144A 05.6000 10/15/2035 | 0.09 % |
| MACQUARIE BANK LTD P/P 144A 06.6250 04/07/2021 | 0.09 % |
| MONDELEZ INTERNATIONAL 06.5000 02/09/2040 | 0.09 % |
| MSC 2007-HQ12 A2FX 05.5969 04/12/2049 | 0.09 % |
| PARKER-HANNIFIN CORP 06.2500 05/15/2038 | 0.09 % |
| PRUDENTIAL FINANCIAL INC 05.2000 03/15/2044 | 0.09 % |
| SANTANDER ISSUANCES P/P 144A 05.9110 06/20/2016 | 0.09 % |
| SBA TOWER TRUST P/P 144A 05.1010 04/17/2017 | 0.09 % |
| SCHLUMBERGER LTD | 0.09 % |
| TEXAS-NEW MEXICO PR P/P 144A 09.5000 04/01/2019 | 0.09 % |
| TRANS-CANADA PIPELINES USD 06.3500 05/15/2067 | 0.09 % |
| VERIZON COMMUNICATIONS 06.4000 09/15/2033 | 0.09 % |
| VERIZON PENNSYLVANIA LLC 08.3500 12/15/2030 | 0.09 % |
| ANHEUSER-BUSCH COMPANIES LLC 05.5000 01/15/2018 | 0.08 % |
| AON PLC USD 04.2500 12/12/2042 | 0.08 % |
| BACM 2005-1 A4 05.1705 11/10/2042 | 0.08 % |
| BOARDWALK PIPELINES LLC 05.8750 11/15/2016 | 0.08 % |
| COMM 2012-CR1 AM 03.9120 05/15/2045 | 0.08 % |
| COMM 2012-LC4 C 05.6478 12/10/2044 | 0.08 % |
| DIAGEO INVESTMENT CORP 08.0000 09/15/2022 | 0.08 % |
| ELECTRICITE DE FRANC P/P 144A 06.9500 01/26/2039 | 0.08 % |
| FIDELITY NATIONAL INFORM 05.0000 03/15/2022 | 0.08 % |
| FNMA FN30 995023 05.5000 08/01/2037 | 0.08 % |
| FNMA FN30 AB9369 03.5000 05/01/2043 | 0.08 % |
| FNMA FN30 AT2746 03.5000 05/01/2043 | 0.08 % |
| GENWORTH HOLDINGS INC 07.6250 09/24/2021 | 0.08 % |
| GEORGIA-PACIFIC LLC 07.7500 11/15/2029 | 0.08 % |
| GNMA GII30 TBA 03.0000 01/01/2044 | 0.08 % |
| GOLDMAN SACHS GROUP INC 07.5000 02/15/2019 | 0.08 % |
| HEWLETT-PACKARD CO | 0.08 % |
| LEGRAND FRANCE USD 08.5000 02/15/2025 | 0.08 % |
| PETROHAWK ENERGY CORP 07.2500 08/15/2018 | 0.08 % |
| PRIDE INTERNATIONAL INC 07.8750 08/15/2040 | 0.08 % |
| RABOBANK NEDERLAND P/P 144A 11.0000 12/29/2049 | 0.08 % |
| REALTY INCOME CORP 04.6500 08/01/2023 | 0.08 % |
| SANTANDER HOLDINGS USA 04.6250 04/19/2016 | 0.08 % |
| SPECTRA ENERGY CAPITAL LLC 08.0000 10/01/2019 | 0.08 % |
| TELEFONICA EMISIONES SAU USD 04.5700 04/27/2023 | 0.08 % |
| AFLAC INC 06.9000 12/17/2039 | 0.07 % |
| AMERICAN INTL GROUP 08.1750 05/15/2058 | 0.07 % |
| BACM 2007-4 A3 05.8128 02/10/2051 | 0.07 % |
| BNP PARIBAS P/P 144A 05.1860 06/29/2049 | 0.07 % |
| CITIGROUP INC 05.0000 09/15/2014 | 0.07 % |
| CUMMINS INC | 0.07 % |
| CVS PASS-THRU TRUST P/P 144A 07.5070 01/10/2032 | 0.07 % |
| ENERGY TRANSFER PARTNERS 06.5000 02/01/2042 | 0.07 % |
| ENI SPA P/P 144A 04.1500 10/01/2020 | 0.07 % |
| FNMA FN30 AU4303 04.5000 09/01/2043 | 0.07 % |
| GSMS 2011-GC5 XA IO P/P 144A 01.7243 08/10/2044 | 0.07 % |
| H.B. FULLER CO. | 0.07 % |
| HASBRO INC | 0.07 % |
| HBOS PLC P/P 144A 06.0000 11/01/2033 | 0.07 % |
| JPMORGAN CHASE & CO 07.9000 04/29/2049 | 0.07 % |
| JUNIPER NETWORKS INC | 0.07 % |
| MSC 2007-HQ12 A2 05.5969 04/12/2049 | 0.07 % |
| NEW JERSEY BELL TELEPHON 08.0000 06/01/2022 | 0.07 % |
| PETROBRAS INTL FIN CO USD 05.3750 01/27/2021 | 0.07 % |
| TELEFONICA EMISIONES SAU USD 05.4620 02/16/2021 | 0.07 % |
| TOSCO CORP 08.1250 02/15/2030 | 0.07 % |
| UBSBB 2012-C4 XA IO P/P 144A 01.8802 12/10/2045 | 0.07 % |
| ALTRIA GROUP INC 04.0000 01/31/2024 | 0.06 % |
| AMERICAN EXPRESS COMPANY 07.0000 03/19/2018 | 0.06 % |
| BP CAPITAL MARKETS PLC USD 04.7420 03/11/2021 | 0.06 % |
| CBL & ASSOCIATES LP 05.2500 12/01/2023 | 0.06 % |
| CROWN CASTLE TOWERS P/P 144A 04.8830 08/15/2020 | 0.06 % |
| DDR CORP. 07.8750 09/01/2020 | 0.06 % |
| EDP FINANCE BV P/P 144A 06.0000 02/02/2018 | 0.06 % |
| ERAC USA FINANCE LLC P/P 144A 04.5000 08/16/2021 | 0.06 % |
| FNMA FN30 555591 05.5000 07/01/2033 | 0.06 % |
| FNMA FN30 995018 05.5000 06/01/2038 | 0.06 % |
| LBCMT 1999-C1 G P/P 144A 06.4100 06/15/2031 | 0.06 % |
| PENN NATIONAL GAMING INC | 0.06 % |
| STANDARD CHARTERED P/P 144A 03.9500 01/11/2023 | 0.06 % |
| STAPLES INC | 0.06 % |
| SW AIRLINES 07-1 TRUST 06.1500 08/01/2022 | 0.06 % |
| TCI COMMUNICATIONS INC 07.8750 02/15/2026 | 0.06 % |
| WILLIS GROUP HOLDING PLC USD 05.7500 03/15/2021 | 0.06 % |
| WPP FINANCE (UK) USD 08.0000 09/15/2014 | 0.06 % |
| XSTRATA FINANCE CANA P/P 144A 05.8000 11/15/2016 | 0.06 % |
| BERKSHIRE HATHAWAY FIN 04.3000 05/15/2043 | 0.05 % |
| BURLINGTN NORTH SANTA FE 05.4000 06/01/2041 | 0.05 % |
| CENTURYLINK INC 06.8750 01/15/2028 | 0.05 % |
| COMMONWEALTH EDISON 05.8750 02/01/2033 | 0.05 % |
| CVS PASS-THROUGH P/P 144A 04.7040 01/10/2036 | 0.05 % |
| DELHAIZE GROUP USD 06.5000 06/15/2017 | 0.05 % |
| DUKE REALTY LP 04.3750 06/15/2022 | 0.05 % |
| EL PASO NATURAL GAS 08.3750 06/15/2032 | 0.05 % |
| ELEC DE FRANCE P/P 144A 05.6000 01/27/2040 | 0.05 % |
| EXPEDIA INC 05.9500 08/15/2020 | 0.05 % |
| FNMA FN30 889982 05.5000 11/01/2038 | 0.05 % |
| FORD MOTOR CREDIT CO LLC 08.0000 12/15/2016 | 0.05 % |
| HISTORIC TW INC 09.1500 02/01/2023 | 0.05 % |
| INTERNATIONAL PAPER COMPANY 09.3750 05/15/2019 | 0.05 % |
| KROGER CO/THE 06.4000 08/15/2017 | 0.05 % |
| LEUCADIA NATIONAL CORP 05.5000 10/18/2023 | 0.05 % |
| MCDONALD'S CORP 05.7000 02/01/2039 | 0.05 % |
| MCDONALD'S CORP 06.3000 03/01/2038 | 0.05 % |
| METLIFE INC 06.4000 12/15/2036 | 0.05 % |
| PUGET SOUND ENERGY INC 06.9740 06/01/2067 | 0.05 % |
| RAS LAFFAN LNG 3 P/P 144A 05.5000 09/30/2014 | 0.05 % |
| SANTANDER UK PLC P/P 144A 05.0000 11/07/2023 | 0.05 % |
| STANDARD CHARTERED P/P 144A 07.0140 07/29/2049 | 0.05 % |
| THE BEAR STEARNS COS LLC 06.4000 10/02/2017 | 0.05 % |
| TIME WARNER INC. 07.7000 05/01/2032 | 0.05 % |
| UNP RR CO 04 PASS TR P/P 144A 05.2140 09/30/2014 | 0.05 % |
| WEA FIN/WT FIN AUST P/P 144A 06.7500 09/02/2019 | 0.05 % |
| WELLS FARGO BANK NA 00.4485 05/16/2016 | 0.05 % |
| WEYERHAEUSER CO 07.3750 03/15/2032 | 0.05 % |
| WFRBS 2012-C9 AS 03.3880 11/15/2045 | 0.05 % |
| APPALACHIAN POWER CO 05.8000 10/01/2035 | 0.04 % |
| APPLE INC 03.8500 05/04/2043 | 0.04 % |
| ARCELORMITTAL USD 10.3500 06/01/2019 | 0.04 % |
| ASSURANT INC 06.7500 02/15/2034 | 0.04 % |
| AXA SA P/P 144A 06.4630 12/29/2049 | 0.04 % |
| BACARDI LTD P/P 144A 04.5000 01/15/2021 | 0.04 % |
| CHOICE HOTELS INTL INC 05.7000 08/28/2020 | 0.04 % |
| CNA FINANCIAL CORPORATION 06.5000 08/15/2016 | 0.04 % |
| COVENTRY HEALTH CARE INC. 05.4500 06/15/2021 | 0.04 % |
| CREDIT SUISSE NEW YORK 05.3000 08/13/2019 | 0.04 % |
| DUKE REALTY LP 06.5000 01/15/2018 | 0.04 % |
| ENERGY TRAN PTNR 07.6000 02/01/2024 | 0.04 % |
| FHLMC FH30G G07321 03.5000 04/01/2043 | 0.04 % |
| FHLMC FH30G Q14035 03.5000 12/01/2042 | 0.04 % |
| FNMA FN30 AA0839 05.0000 01/01/2039 | 0.04 % |
| FNMA FN30 AU4745 04.5000 09/01/2043 | 0.04 % |
| HESS CORP 07.3000 08/15/2031 | 0.04 % |
| HSBC USA CAPITAL P/P 144A 07.8080 12/15/2026 | 0.04 % |
| JPMCC 2004-LN2 A2 05.1150 07/15/2041 | 0.04 % |
| JPMCC 2007-C1 A3 05.7900 02/15/2051 | 0.04 % |
| KOREA DEVELOPMENT BANK USD 04.0000 09/09/2016 | 0.04 % |
| MSBAM 2013-C11 AS 04.4192 08/15/2046 | 0.04 % |
| NATIONWIDE FINANCIAL SER 05.6250 02/13/2015 | 0.04 % |
| NATIONWIDE MUTUAL P/P 144A 08.2500 12/01/2031 | 0.04 % |
| ONCOR ELECTRIC DELIVERY CO 07.0000 09/01/2022 | 0.04 % |
| PACIFIC GAS & ELECTRIC 06.3500 02/15/2038 | 0.04 % |
| STATOIL ASA USD 05.1000 08/17/2040 | 0.04 % |
| TIAAC 2003-1A E USD 08.0000 12/28/2038 | 0.04 % |
| TRW AUTOMOTIVE INC P/P 144A 04.4500 12/01/2023 | 0.04 % |
| TYSON FOODS INC. 06.6000 04/01/2016 | 0.04 % |
| VIACOM INC 05.8500 09/01/2043 | 0.04 % |
| AFLAC INC 06.4500 08/15/2040 | 0.03 % |
| AGRIUM INC USD 07.1250 05/23/2036 | 0.03 % |
| BANCO DEL ESTADO P/P 144A 02.0000 11/09/2017 | 0.03 % |
| BANK OF AMERICA NA 05.3000 03/15/2017 | 0.03 % |
| BEAR STEARNS COS LLC 07.2500 02/01/2018 | 0.03 % |
| BPCE SA P/P 144A 05.7000 10/22/2023 | 0.03 % |
| CAPITAL ONE BANK USA NA 03.3750 02/15/2023 | 0.03 % |
| CROATIA P/P 144A 06.2500 04/27/2017 | 0.03 % |
| DCP MIDSTREAM LLC P/P 144A 05.3500 03/15/2020 | 0.03 % |
| DUKE ENERGY CAROLINAS 04.2500 12/15/2041 | 0.03 % |
| DUKE REALTY LP 06.7500 03/15/2020 | 0.03 % |
| EASTMAN CHEMICAL CO 03.6000 08/15/2022 | 0.03 % |
| ENEL FINANCE INTL NV P/P 144A 05.1250 10/07/2019 | 0.03 % |
| ENTERPRISE PRODUCTS OPER 04.8500 08/15/2042 | 0.03 % |
| EPR PROPERTIES 05.2500 07/15/2023 | 0.03 % |
| FIVE CORNERS FUNDING P/P 144A 04.4190 11/15/2023 | 0.03 % |
| GE CAPITAL TRUST I 06.3750 11/15/2067 | 0.03 % |
| GRUPO TELEVISA SAB USD 06.6250 01/15/2040 | 0.03 % |
| HBOS PLC P/P 144A 06.7500 05/21/2018 | 0.03 % |
| HEALTH CARE REIT INC 03.7500 03/15/2023 | 0.03 % |
| HOST HOTELS & RESORTS LP 06.0000 10/01/2021 | 0.03 % |
| HSBC BANK USA NA 07.0000 01/15/2039 | 0.03 % |
| ILLINOIS-TXBL 04.4210 01/01/2015 | 0.03 % |
| ITC HOLDINGS CORP P/P 144A 06.0500 01/31/2018 | 0.03 % |
| KERR-MCGEE CORP 07.8750 09/15/2031 | 0.03 % |
| KERRY GROUP FIN SVCS P/P 144A 03.2000 04/09/2023 | 0.03 % |
| KOREA GAS CORP P/P 144A 06.2500 01/20/2042 | 0.03 % |
| KRAFT FOODS GRP INC 06.5000 02/09/2040 | 0.03 % |
| LIBERTY MUTUAL INSUR P/P 144A 07.6970 10/15/2097 | 0.03 % |
| MACYS RETAIL HLDGS INC 06.7000 07/15/2034 | 0.03 % |
| METHANEX CORP USD 03.2500 12/15/2019 | 0.03 % |
| N TX HWY-TXB-B 06.7180 01/01/2049 | 0.03 % |
| NARRAGANSETT EL P/P 144A 04.1700 12/10/2042 | 0.03 % |
| NBCUNIVERSAL MEDIA LLC 06.4000 04/30/2040 | 0.03 % |
| NEVADA POWER CO 07.1250 03/15/2019 | 0.03 % |
| NOBLE HOLDING INTL LTD USD 06.0500 03/01/2041 | 0.03 % |
| NORFOLK SOUTHERN CORP 06.0000 05/23/2111 | 0.03 % |
| NVR INC 03.9500 09/15/2022 | 0.03 % |
| ONCOR ELECTRIC DELIVERY 04.1000 06/01/2022 | 0.03 % |
| ONEAMERICA FINL P/P 144A 07.0000 10/15/2033 | 0.03 % |
| PACIFIC LIFECORP P/P 144A 06.0000 02/10/2020 | 0.03 % |
| PACKAGING CORP OF AMERIC 04.5000 11/01/2023 | 0.03 % |
| PETROBRAS INTL FIN CO USD 03.8750 01/27/2016 | 0.03 % |
| POTOMAC EDISON CO P/P 144A 05.8000 10/15/2016 | 0.03 % |
| PPG INDUSTRIES INC 07.4000 08/15/2019 | 0.03 % |
| PRUDENTIAL FINANCIAL INC 05.6250 06/15/2043 | 0.03 % |
| QUEST DIAGNOSTIC INC 06.9500 07/01/2037 | 0.03 % |
| QWEST CORP 06.7500 12/01/2021 | 0.03 % |
| TEACHERS INSUR & ANN P/P 144A 06.8500 12/16/2039 | 0.03 % |
| TELEFONICA EMISIONES SAU USD 07.0450 06/20/2036 | 0.03 % |
| TRAVELERS PPTY CASUALTY 07.7500 04/15/2026 | 0.03 % |
| ACTAVIS INC 04.6250 10/01/2042 | 0.02 % |
| ALLEGION PLC | 0.02 % |
| AMERICA MOVIL SAB DE CV USD 02.3750 09/08/2016 | 0.02 % |
| AMERICA MOVIL SAB DE USD 06.1250 03/30/2040 | 0.02 % |
| ANHEUSER-BUSCH INBEV 08.2000 01/15/2039 | 0.02 % |
| AUTONATION INC 05.5000 02/01/2020 | 0.02 % |
| BG ENERGY CAP PLC P/P 144A 04.0000 10/15/2021 | 0.02 % |
| CA TXB-VAR PURP 3 07.5000 04/01/2034 | 0.02 % |
| CC HLDG GS V LLC/CRO 03.8490 04/15/2023 | 0.02 % |
| CNA FINANCIAL CORP 05.7500 08/15/2021 | 0.02 % |
| COMCAST CORP 06.5000 11/15/2035 | 0.02 % |
| CONS EDISON CO OF NY 04.2000 03/15/2042 | 0.02 % |
| CONTL AIRLINES 1998-1 06.6480 09/15/2017 | 0.02 % |
| CYTEC INDUSTRIES INC. 03.5000 04/01/2023 | 0.02 % |
| EASTMAN CHEMICAL CO 06.3000 11/15/2018 | 0.02 % |
| EL PASO PIPELINE PART OP 06.5000 04/01/2020 | 0.02 % |
| ELEC DE FRANCE P/P 144A 05.2500 01/29/2049 | 0.02 % |
| ENERGY TRANSFER PARTNERS 05.2000 02/01/2022 | 0.02 % |
| EOG RESOURCES INC 05.6250 06/01/2019 | 0.02 % |
| FIFTH THIRD BANCORP 05.1000 12/29/2049 | 0.02 % |
| FORD MOTOR COMPANY 07.4000 11/01/2046 | 0.02 % |
| GENERAL ELEC CAP CORP 03.1000 01/09/2023 | 0.02 % |
| GOLDMAN SACHS GROUP INC 06.7500 10/01/2037 | 0.02 % |
| IBERDROLA INTL BV USD 06.7500 07/15/2036 | 0.02 % |
| INTL LEASE FINANCE CORP 06.2500 05/15/2019 | 0.02 % |
| INTL PAPER CO 07.9500 06/15/2018 | 0.02 % |
| ITC HOLDINGS CORP P/P 144A 05.8750 09/30/2016 | 0.02 % |
| KANSAS GAS & ELECTRIC CO 05.6470 03/29/2021 | 0.02 % |
| LIBERTY MUTUAL GROUP P/P 144A 07.8000 03/15/2037 | 0.02 % |
| LUKOIL INTL FIN BV P/P 144A 04.5630 04/24/2023 | 0.02 % |
| MARATHON PETRO CORP 06.5000 03/01/2041 | 0.02 % |
| MARRIOTT INTERNATIONAL INC. 03.0000 03/01/2019 | 0.02 % |
| MERRILL LYNCH & CO 01.0029 09/15/2026 | 0.02 % |
| MID-AMERICA APT LP 04.3000 10/15/2023 | 0.02 % |
| MOTIVA ENTERPRISES L P/P 144A 06.8500 01/15/2040 | 0.02 % |
| OH UNIV-TXB-C-BABS 04.9100 06/01/2040 | 0.02 % |
| ORANGE SA USD 04.1250 09/14/2021 | 0.02 % |
| ORANGE SA USD 05.3750 07/08/2019 | 0.02 % |
| PACKAGING CORP OF AMERICA 03.9000 06/15/2022 | 0.02 % |
| PETROBRAS GLOBAL FINANCE USD 04.3750 05/20/2023 | 0.02 % |
| PETROBRAS INTL USD 06.7500 01/27/2041 | 0.02 % |
| PRIMERICA INC 04.7500 07/15/2022 | 0.02 % |
| RABOBANK NEDERLAND USD 04.6250 12/01/2023 | 0.02 % |
| RAYONIER INC 03.7500 04/01/2022 | 0.02 % |
| REPUBLIC SERVICES IN 05.5000 09/15/2019 | 0.02 % |
| ROCK-TENN CO 04.9000 03/01/2022 | 0.02 % |
| ROYAL BK SCOTLND GRP PLC USD 06.1000 06/10/2023 | 0.02 % |
| SABMILLER HLDG INC P/P 144A 04.9500 01/15/2042 | 0.02 % |
| SES P/P 144A 05.3000 04/04/2043 | 0.02 % |
| SOFTBANK CORP P/P 144A 04.5000 04/15/2020 | 0.02 % |
| SPECTRA ENERGY PARTNERS 04.6000 06/15/2021 | 0.02 % |
| TANGER PROPERTIES L.P. 06.1250 06/01/2020 | 0.02 % |
| TELECOM ITALIA CAPITAL USD 06.1750 06/18/2014 | 0.02 % |
| TEMPLE-INLAND INC. 06.6250 01/15/2018 | 0.02 % |
| THE MOSAIC COMPANY 03.7500 11/15/2021 | 0.02 % |
| TJX COS INC 02.5000 05/15/2023 | 0.02 % |
| UNION CARBIDE CORP 07.7500 10/01/2096 | 0.02 % |
| UNITED TECHNOLOGIES CORP 04.5000 06/01/2042 | 0.02 % |
| UNITEDHEALTH GROUP INC 04.6250 11/15/2041 | 0.02 % |
| WEATHERFORD INTERNATIONAL LLC 06.8000 06/15/2037 | 0.02 % |
| WEATHERFORD INTL LLC 06.3500 06/15/2017 | 0.02 % |
| WESTAR ENERGY INC 04.1250 03/01/2042 | 0.02 % |
| ZFS FIN USA TRUST V P/P 144A 06.5000 05/09/2037 | 0.02 % |
| ACTAVIS INC 03.2500 10/01/2022 | 0.01 % |
| AETNA INC 06.7500 12/15/2037 | 0.01 % |
| ALTRIA GROUP INC 09.2500 08/06/2019 | 0.01 % |
| ALTRIA GROUP INC. 09.7000 11/10/2018 | 0.01 % |
| ARIZONA PUBLIC SERVICE 04.5000 04/01/2042 | 0.01 % |
| AXA SA P/P 144A 06.3790 12/14/2036 | 0.01 % |
| BEAVER VALLEY II FUNDING 09.0000 06/01/2017 | 0.01 % |
| BNP PARIBAS P/P 144A 07.1950 06/29/2049 | 0.01 % |
| BP CAPITAL MARKETS PLC USD 04.5000 10/01/2020 | 0.01 % |
| BURLINGTN NORTH SANTA FE 05.7500 05/01/2040 | 0.01 % |
| CF INDUSTRIES INC 07.1250 05/01/2020 | 0.01 % |
| CITIGROUP INC 00.5116 06/09/2016 | 0.01 % |
| CITIGROUP INC 08.5000 05/22/2019 | 0.01 % |
| CONTL AIRLINES 1997-4 06.9000 01/02/2018 | 0.01 % |
| DELHAIZE GROUP USD 04.1250 04/10/2019 | 0.01 % |
| FNMA FN30 AU5131 04.5000 08/01/2043 | 0.01 % |
| FSPC T-56 AIO IO 00.5240 05/25/2043 | 0.01 % |
| GEBL 2004-2A D P/P 144A 02.9166 12/15/2032 | 0.01 % |
| GLP CAP LP / FIN II P/P 144A 04.3750 11/01/2018 | 0.01 % |
| GRUPO TELEVISA SAB USD 06.0000 05/15/2018 | 0.01 % |
| GSMS 1998-C1 F P/P 144A 06.0000 10/18/2030 | 0.01 % |
| HOST HOTELS & RESORTS 05.2500 03/15/2022 | 0.01 % |
| HYATT HOTELS CORP 03.3750 07/15/2023 | 0.01 % |
| KANSAS CITY SOUTHERN P/P 144A 04.3000 05/15/2043 | 0.01 % |
| KONINKLIJKE KPN N.V. USD 08.3750 10/01/2030 | 0.01 % |
| LBCMT 1999-C1 F P/P 144A 06.4100 06/15/2031 | 0.01 % |
| MACY'S RETAIL HOLDINGS INC. 03.8750 01/15/2022 | 0.01 % |
| MACYS RETAIL HLDGS INC 05.1250 01/15/2042 | 0.01 % |
| MACYS RETAIL HLDGS INC 06.6500 07/15/2024 | 0.01 % |
| MACYS RETAIL HLDGS INC 06.9000 04/01/2029 | 0.01 % |
| MET LIFE GLOB P/P 144A 03.6500 06/14/2018 | 0.01 % |
| MOLSON COORS BREWING CO 05.0000 05/01/2042 | 0.01 % |
| MOSAIC CO 05.4500 11/15/2033 | 0.01 % |
| MOSAIC CO 05.6250 11/15/2043 | 0.01 % |
| MYLAN INC P/P 144A 02.6000 06/24/2018 | 0.01 % |
| O'REILLY AUTOMOTIVE INC 03.8500 06/15/2023 | 0.01 % |
| OWENS CORNING INC 09.0000 06/15/2019 | 0.01 % |
| PACIFIC GAS & ELECTRIC 05.8000 03/01/2037 | 0.01 % |
| PPL CAPITAL FUNDING INC 04.2000 06/15/2022 | 0.01 % |
| PRUDENTIAL HLDGS LLC P/P 144A 01.1179 12/18/2017 | 0.01 % |
| QUEST DIAGNOSTIC INC 04.7500 01/30/2020 | 0.01 % |
| ROCK-TENN CO 04.4500 03/01/2019 | 0.01 % |
| ROGERS COMMUNICATIONS IN USD 04.5000 03/15/2043 | 0.01 % |
| ROGERS COMMUNICATIONS IN USD 08.7500 05/01/2032 | 0.01 % |
| ROYAL BK SCOTLND GRP PLC USD 06.0000 12/19/2023 | 0.01 % |
| SASC 1998-RF3 AIO IO 06.1000 06/15/2028 | 0.01 % |
| TECO FINANCE INC 06.5720 11/01/2017 | 0.01 % |
| UNITED TECHNOLOGIES CORP 03.1000 06/01/2022 | 0.01 % |
| UNITED TECHNOLOGIES CORP 05.7000 04/15/2040 | 0.01 % |
| WEATHERFORD INTL LTD. USD 09.6250 03/01/2019 | 0.01 % |
| WELLPOINT INC 04.6250 05/15/2042 | 0.01 % |
| ACTAVIS INC. 01.8750 10/01/2017 | 0.00 % |
| DOMINION RESOURCES INC 06.0000 11/30/2017 | 0.00 % |
| FHLMC FH30G G01793 06.0000 03/01/2035 | 0.00 % |
| FNR 2001-79 BI IO 00.3134 03/25/2045 | 0.00 % |
| FPLUS 1997-3 B1 07.7900 11/10/2023 | 0.00 % |
| FSPC T-56 1IO IO 00.0000 05/25/2043 | 0.00 % |
| FSPC T-56 2IO IO 00.0000 05/25/2043 | 0.00 % |
| FSPC T-56 3IO IO 00.0000 05/25/2043 | 0.00 % |
| INTL PAPER CO 08.7000 06/15/2038 | 0.00 % |
| KANSAS CITY SOUTHERN USD 02.3500 05/15/2020 | 0.00 % |
Prior top 10 holdings
| Top 10 holdings as of 01/31/14 |
|---|
| Us Treasury N/B 01.0000 08/31/2016 |
| Us Treasury N/B 03.5000 02/15/2018 |
| Exxon Mobil Corp Sedol 2326618 |
| Us Treasury N/B 00.2500 08/31/2014 |
| Us Treasury N/B 00.7500 03/31/2018 |
| Johnson & Johnson Sedol 2475833 |
| Jpmorgan Chase & Co Sedol 2190385 |
| Us Treasury N/B 03.0000 09/30/2016 |
| Philip Morris International Sedol B2pkrq3 |
| Royal Dutch Shell Plc-Adr Sedol B03mm62 |
| Holdings represent 18.25% of portfolio |
| Top 10 holdings as of 12/31/13 |
|---|
| Us Treasury N/B 03.5000 02/15/2018 |
| Exxon Mobil Corp Sedol 2326618 |
| Us Treasury N/B 00.2500 08/31/2014 |
| Us Treasury N/B 00.7500 03/31/2018 |
| Johnson & Johnson Sedol 2475833 |
| Jpmorgan Chase & Co Sedol 2190385 |
| Philip Morris International Sedol B2pkrq3 |
| Royal Dutch Shell Plc-Adr Sedol B03mm62 |
| Us Treasury N/B 03.0000 09/30/2016 |
| Pfizer Inc Sedol 2684703 |
| Holdings represent 16.88% of portfolio |
| Top 10 holdings as of 11/30/13 |
|---|
| Us Treasury N/B 03.5000 02/15/2018 |
| Exxon Mobil Corp Sedol 2326618 |
| Us Treasury N/B 00.2500 08/31/2014 |
| Us Treasury N/B 00.7500 03/31/2018 |
| Johnson & Johnson Sedol 2475833 |
| Jpmorgan Chase & Co Sedol 2190385 |
| Philip Morris International Sedol B2pkrq3 |
| Us Treasury N/B 03.0000 09/30/2016 |
| Pfizer Inc Sedol 2684703 |
| Royal Dutch Shell Plc-Adr Sedol B03mm62 |
| Holdings represent 16.85% of portfolio |
| Top 10 holdings as of 10/31/13 |
|---|
| Us Treasury N/B 03.5000 02/15/2018 |
| Us Treasury N/B 00.2500 08/31/2014 |
| Exxon Mobil Corp Sedol 2326618 |
| Us Treasury N/B 00.7500 03/31/2018 |
| Johnson & Johnson Sedol 2475833 |
| Jpmorgan Chase & Co Sedol 2190385 |
| Philip Morris International Sedol B2pkrq3 |
| Royal Dutch Shell Plc-Adr Sedol B03mm62 |
| Us Treasury N/B 03.0000 09/30/2016 |
| Pfizer Inc Sedol 2684703 |
| Holdings represent 17.00% of portfolio |
Portfolio composition as of 01/31/14
| Common stock | 58.49% |
|
|---|---|---|
| Corporate bonds and notes | 14.69% |
|
| Treasury | 12.42% |
|
| Cash and net other assets | 6.35% |
|
| Agency pass-through | 5.86% |
|
| Commercial MBS | 1.19% |
|
| Agency | 0.44% |
|
| Emerging-market bonds | 0.43% |
|
| Municipal bonds | 0.12% |
|
| Agency CMO | 0.01% |
|
Top Industry Sectors as of 01/31/14
| Financials | 22.57% |
|---|---|
| Health care | 15.58% |
| Industrials | 12.88% |
| Energy | 10.51% |
| Consumer discretionary | 9.13% |
| Information technology | 7.33% |
| Consumer staples | 7.11% |
| Cash and net other assets | 6.35% |
| Utilities | 4.45% |
| 4.09% |
| Materials | 2.48% |
|---|---|
| Telecommunication services | 1.23% |
| Unclassified | 0.38% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time. Represents the equity portion of the portfolio.
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Expenses
Expense ratio |
Class A | Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|---|
| Total expense ratio | 1.01% | 1.76% | 1.76% | 1.51% | 1.26% | 0.73% | 0.63% | 0.76% |
| What you pay | 1.01% | 1.76% | 1.76% | 1.51% | 1.26% | 0.73% | 0.63% | 0.76% |
Sales charge
| Investment Breakpoint | Class A | Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% | -- | -- | 3.50% | -- | -- | -- | -- |
| $50,000-$99,999 | 4.50% | -- | -- | 2.50% | -- | -- | -- | -- |
| $100,000-$249,999 | 3.50% | -- | -- | 1.50% | -- | -- | -- | -- |
| $250,000-$499,999 | 2.50% | -- | -- | 1.00% | -- | -- | -- | -- |
| $500,000-$999,999 | 2.00% | -- | -- | 1.00% | -- | -- | -- | -- |
| $1M-$4M | -- | -- | -- | -- | -- | -- | -- | -- |
| $4M-$50M | -- | -- | -- | -- | -- | -- | -- | -- |
| $50M+ | -- | -- | -- | -- | -- | -- | -- | -- |
CDSC
|
Class A
(sales for $1,000,000+) |
Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y | |
|---|---|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- | -- |
| 9 to 12 mts. | -- | 5.00% | 1.00% | -- | -- | -- | -- | -- |
| 2 yrs. | -- | 4.00% | -- | -- | -- | -- | -- | -- |
| 3 yrs. | -- | 3.00% | -- | -- | -- | -- | -- | -- |
| 4 yrs. | -- | 3.00% | -- | -- | -- | -- | -- | -- |
| 5 yrs. | -- | 2.00% | -- | -- | -- | -- | -- | -- |
| 6 yrs. | -- | 1.00% | -- | -- | -- | -- | -- | -- |
| 7+ yrs. | -- | -- | -- | -- | -- | -- | -- | -- |
The Russell 1000 Value Index is an unmanaged capitalization-weighted index of large-cap stocks chosen for their value orientation. The Barclays U.S. Aggregate Bond Index is an unmanaged index of U.S. investment-grade fixed income securities. Securities in the fund do not match those in the indexes and performance of the fund will differ. It is not possible to invest directly in an index.
Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Value stocks may fail to rebound, and the market may not favor value-style investing. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Interest-rate risk is greater for longer-term bonds, and credit risk is greater for below-investment-grade bonds. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. Unlike bonds, funds that invest in bonds have fees and expenses. Stock and bond prices may fall or fail to rise over time for several reasons, including general financial market conditions and factors related to a specific issuer or industry. You can lose money by investing in the fund.
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.