Key Characteristics as of 12/31/11
| Top Ten Holdings1 | |||
|---|---|---|---|
| Coupon | Maturity Date | ||
| FNMA - MBS | 3.500 | 1/12/2041 | 2.86% |
| FNMA - MBS | 4.000 | 1/12/2041 | 2.79% |
| FNMA - MBS | 4.500 | 1/12/2041 | 1.93% |
| Mexican Bonos | 7.250 | 12/15/2016 | 1.62% |
| U.S. Treasury Bonds | 3.750 | 8/15/2041 | 1.37% |
| Kinetic Concepts, Inc. | 7.000 | 5/4/2018 | 1.22% |
| Immucor, Inc. | 7.250 | 8/17/2018 | 1.21% |
| BJ's Wholesale Club, Inc. | 7.000 | 9/28/2018 | 1.21% |
| Gibson Energy | 5.750 | 6/15/2018 | 1.20% |
| Sequa Corp. | 3.630 | 12/3/2014 | 1.17% |
| Total | 16.59% | ||
| View Full Quarterly Holdings |  | ||
| Characteristics | |
|---|---|
| Number of Positions | 191 |
| Average Maturity (Years) | 5.93 |
| Average Duration (Years)2 | 4.04 |
| Sector Allocations3 | |
|---|---|
| High Yield Credit | 34.1% |
| Investment Grade Credit | 19.9% |
| Non-Agency MBS | 12.4% |
| Global (Non-USD) | 9.8% |
| Agency MBS | 9.6% |
| CMBS | 9.5% |
| Other | 2.0% |
| Treasury/Agency | 1.0% |
| ABS | 1.0% |
| Cash and Equivalents | 0.6% |
1 Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell individual securities.
2 Average Duration is a measure of bond price's sensitivity to a given change in interest rates. Generally, the longer a bond's duration, the greater the price sensitivity to a change in interest rates.
3 Sector Allocations are subject to change.