Less than 1 yr
1-3 yrs
3-5 yrs
5-7 yrs
7-10 yrs
10-20 yrs
More than 20 yrs

Credit Quality Distribution as of 05/29/2015

Not Rated

Portfolio Details as of 05/29/2015

Total Net Assets
$9.03 M
Number of Holdings
Average Coupon
Average Maturity
7.01 Years
Modified Duration
4.66 Years

Portfolio Positioning as of 03/31/2015

  • As the U.S. Federal Reserve moves closer to increasing interest rates, we will limit the portfolio’s exposure to bonds most highly correlated to U.S. Treasuries.
  • Although negative interest rate yields in Western Europe have led to asset flows into some of the more risky European countries, we see limited upside due to minimal risk premiums.
  • Because the strength of the U.S. dollar has persisted, we reduced the portfolio’s currency hedges in order to capitalize on the potential for currency appreciation in emerging markets.
  • We anticipate the prolonged cycle of broad-based interest-rate cuts in emerging markets is winding down. Thus, we must be more selective in owning bonds in those countries for which rate cuts are still likely.
Currency Assets
Turkey 12.8%
Mexico 12.6%
Brazil 11.3%
Indonesia 10.5%
Poland 8.8%
Malaysia 8.7%
South Africa 8.5%
Thailand 6.4%
Colombia 5.8%
Russia 5.7%
Hungary 4.8%
Romania 2.5%
Chile 2.1%
South Korea 2.0%
Nigeria 1.3%
Euro 1.2%
Peru -0.4%
Australia -1.0%
Philippines -1.1%
Singapore -2.1%
Fund Dividends & Cap Gains next tab

Contact a Representative