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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Rivus Bond Fund | NYSE:BDF | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
1
2
Total Return-Percentage Change (Annualized for periods longer than 1 year)
In Net Asset Value Per Share with All Distributions Reinvested 1 |
6 Months | 1 Year | 3 Years | 5 Years | 10 Years | ||||||||||||||||
to | to | to | to | to | ||||||||||||||||
09/30/11 | 09/30/11 | 09/30/11 | 09/30/11 | 09/30/11 | ||||||||||||||||
Rivus Bond Fund
|
2.82 | % | 4.96 | % | 12.90 | % | 6.98 | % | 5.95 | % 2 | ||||||||||
Barclays U.S. Credit Index
3
|
5.60 | % | 4.56 | % | 11.74 | % | 6.72 | % | 6.26 | % | ||||||||||
Peer Group Average
4
|
1.38 | % | 3.43 | % | 11.96 | % | 6.27 | % | 6.02 | % |
1 | This is historical information and should not be construed as indicative of any likely future performance | |
2 | Source: Lipper Inc. | |
3 | Comprised primarily of U.S. investment grade corporate bonds (Funds Benchmark) | |
4 | Consists of a group of funds that the Fund has historically compared itself against |
3
4
SCHEDULE OF INVESTMENTS (Unaudited) | September 30, 2011 |
Moodys/ | ||||||||||
Standard & | ||||||||||
Poors | Principal | Value | ||||||||
Rating (a) | Amount (000s) | (Note 1) | ||||||||
CORPORATE DEBT SECURITIES (80.37%)
|
||||||||||
AUTOMOTIVE (1.46%)
|
||||||||||
Ford Holdings, Inc., Co. Gty., 9.30%, 03/01/30
|
Ba3/BB- | $ | 1,000 | $ | 1,278,842 | |||||
Ford Motor Co., Sr. Unsec. Notes, 8.90%, 01/15/32
|
Ba3/BB- | 500 | 608,212 | |||||||
Ford Motor Credit Co. LLC, Sr. Unsec. Notes, 7.00%, 10/01/13
|
Ba2/BB- | 1,000 | 1,050,117 | |||||||
Goodyear Tire & Rubber Co., Sr. Unsec. Notes, 10.50%, 05/15/16
(b)
|
B1/B+ | 166 | 179,695 | |||||||
|
||||||||||
|
3,116,866 | |||||||||
|
||||||||||
CHEMICALS (3.33%)
|
||||||||||
Braskem Finance, Ltd., Co. Gty., 5.75%, 04/15/21, 144A
|
Baa3/BBB- | 500 | 456,299 | |||||||
Braskem Finance, Ltd., Co. Gty., 7.00%, 05/07/20, 144A
|
Baa3/BBB- | 500 | 507,500 | |||||||
Dow Chemical Co., Sr. Unsec. Notes, 8.55%, 05/15/19
|
Baa3/BBB | 500 | 640,480 | |||||||
Grupo Petrotemex SA de CV, Sr. Unsec. Notes, 9.50%, 08/19/14, 144A
|
NA/BB | 500 | 512,500 | |||||||
Incitec Pivot Finance LLC, Co. Gty., 6.00%, 12/10/19, 144A
|
Baa3/BBB | 405 | 445,348 | |||||||
Olin Corp., Sr. Unsec. Notes, 9.125%, 12/15/11
|
Ba1/B | 66 | 65,522 | |||||||
Sinochem Overseas Capital Co., Ltd., Co. Gty., 4.50%, 11/12/20, 144A
|
Baa1/BBB+ | 500 | 465,324 | |||||||
Sinochem Overseas Capital Co., Ltd., Co. Gty., 6.30%, 11/12/40, 144A
|
Baa1/BBB+ | 1,500 | 1,387,547 | |||||||
Union Carbide Corp., Sr. Unsec. Notes, 7.75%, 10/01/96
|
Baa3/BBB | 2,000 | 2,382,914 | |||||||
Westlake Chemicals, Co. Gty., 6.625%, 01/15/16
(b)
|
Baa3/BBB- | 250 | 252,500 | |||||||
|
||||||||||
|
7,115,934 | |||||||||
|
||||||||||
DIVERSIFIED FINANCIAL SERVICES (12.70%)
|
||||||||||
Akbank TAS, Sr. Unsec. Notes, 6.50%, 03/09/18, 144A
|
Ba1/NR | 1,000 | 970,000 | |||||||
Ally Financial Inc., 7.50%, 09/15/20
|
B1/B+ | 315 | 285,074 | |||||||
American Express Co., Sr. Unsec. Notes, 7.00%, 03/19/18
|
A3/BBB+ | 1,000 | 1,183,027 | |||||||
Bank of America Corp., Sr. Unsec. Notes, 5.625%, 07/01/20
|
Baa1/A | 190 | 175,002 | |||||||
Bank of America Corp., Sr. Unsec. Notes, 5.875%, 01/05/21
|
Baa2/A | 500 | 467,329 | |||||||
Bank of America Corp., Sub. Notes, 5.42%, 03/15/17
|
Baa2/A- | 1,000 | 868,763 | |||||||
BankBoston Capital Trust III, Ltd., Gtd., 1.097%, 06/15/27
(b),(c)
|
Ba1/NR | 270 | 170,939 | |||||||
BNP Paribas, Jr. Sub. Notes, 5.186%, 06/29/15, 144A
(c),(d)
|
Baa1/A | 1,000 | 690,000 | |||||||
Capital One Capital V, Ltd., Gtd., 10.25%, 08/15/39
|
Baa3/BB | 1,500 | 1,522,500 | |||||||
CDP Financial, Inc., Co. Gtd., 4.40%, 11/25/19, 144A
|
Aaa/AAA | 400 | 436,297 | |||||||
Chase Capital II, Ltd. Gtd., Series B, 0.754%, 02/01/27
(b),(c)
|
A2/BBB+ | 70 | 51,530 | |||||||
Citigroup Capital XXI, Co. Gty., 8.30%, 12/21/77
(b),(c)
|
Baa3/BB+ | 500 | 490,000 | |||||||
Citigroup, Inc., Sr. Unsec. Notes, 6.375%, 08/12/14
|
A3/A | 151 | 159,867 | |||||||
Citigroup, Inc., Sr. Unsec. Notes, 6.01%, 01/15/15
|
A3/A | 1,000 | 1,062,784 | |||||||
Citigroup, Inc., Sr. Unsec. Notes, 5.375%, 08/09/20
|
A3/A | 105 | 108,782 | |||||||
Citigroup, Inc., Sr. Unsec. Notes, 8.125%, 07/15/39
|
A3/A | 125 | 149,837 | |||||||
Citigroup, Inc., Unsec. Notes, 8.50%, 05/22/19
|
A3/A | 595 | 718,653 | |||||||
CoBank, ACB, Sub. Notes, 7.875%, 04/16/18, 144A
|
NR/A | 500 | 601,524 | |||||||
Corp. Andina de Fomento, Sr. Unsec. Notes, 3.75%, 01/15/16
|
A1/A+ | 95 | 96,128 | |||||||
Credit Agricole SA, Jr. Sub. Notes, 6.637%, 05/31/17, 144A
(c),(d)
|
Baa1/BBB+ | 1,250 | 721,875 | |||||||
Discover Financial Services, Sr. Unsec. Notes, 10.25%, 07/15/19
|
Ba1/BBB- | 200 | 242,079 | |||||||
Export-Import Bank of Korea, Sr. Notes, 8.125%, 01/21/14
|
A1/A | 500 | 558,098 | |||||||
FleetBoston Financial Corp., Sub. Notes, 6.875%, 01/15/28
|
Baa2/A- | 500 | 496,307 | |||||||
General Electric Capital Corp., Sr. Unsec. Notes, 5.625%, 05/01/18
|
Aa2/AA+ | 230 | 251,433 | |||||||
General Electric Capital Corp., Sr. Unsec. Notes, 6.875%, 01/10/39
|
Aa2/AA+ | 1,000 | 1,147,741 | |||||||
HSBC America Capital Trust II, Bank Gtd., 8.38%, 05/15/27, 144A
(b)
|
NR/A- | 2,500 | 2,498,548 | |||||||
HSBC Capital Funding LP, Ltd., Gtd., 10.176%, 06/30/30, 144A
(c),(d)
|
A3/A- | 500 | 607,500 | |||||||
HSBC Finance Corp., Sr. Unsec. Notes, 7.00%, 05/15/12
|
A3/A | 500 | 514,761 | |||||||
Jefferies Group, Inc., Sr. Unsec. Notes, 8.50%, 07/15/19
|
Baa2/BBB | 129 | 143,471 | |||||||
Jefferies Group, Inc., Sr. Unsec. Notes, 6.875%, 04/15/21
|
Baa2/BBB | 1,000 | 1,038,667 | |||||||
JP Morgan Chase & Co., Sr. Unsec. Notes, 4.40%, 07/22/20
|
Aa3/A+ | 175 | 177,054 | |||||||
JP Morgan Chase Bank NA, Sub. Notes, 6.00%, 10/01/17
|
Aa2/A+ | 1,000 | 1,051,305 | |||||||
JP Morgan Chase Capital XXV, Ltd., Gtd., Series Y, 6.80%, 10/01/37
|
A2/BBB+ | 850 | 853,089 |
5
Moodys/ | ||||||||||
Standard & | ||||||||||
Poors | Principal | Value | ||||||||
Rating (a) | Amount (000s) | (Note 1) | ||||||||
DIVERSIFIED FINANCIAL SERVICES (Continued)
|
||||||||||
Landesbank Baden-Wurtt NY, Sub. Notes, 6.35%, 04/01/12
|
Aaa/NR | $ | 500 | $ | 510,606 | |||||
Lloyds TSB Bank PLC, Bank Gtd., 6.375%, 01/21/21
|
Aa3/A+ | 2,000 | 1,971,850 | |||||||
Merrill Lynch & Co. Inc., Notes, 6.875%, 04/25/18
|
Baa1/A | 1,000 | 1,000,359 | |||||||
Merrill Lynch & Co., Inc., Sub. Notes, 6.05%, 05/16/16
|
Baa2/A- | 320 | 287,979 | |||||||
Morgan Stanley, Sr. Unsec. Notes, 6.25%, 08/28/17
|
A2/A | 300 | 296,235 | |||||||
National Agricultural Cooperative Federation, Sr. Notes, 5.00%, 09/30/14, 144A
|
A1/A | 500 | 522,474 | |||||||
Santander US Debt SA Unipersonal, Bank Gtd., 3.724%, 01/20/15, 144A
|
Aa2/AA | 100 | 92,728 | |||||||
UBS AG Stamford CT, Sr. Unsec. Notes, Bank Notes, 4.875%, 08/04/20
|
Aa3/A+ | 250 | 240,724 | |||||||
UBS PFD Funding Trust V, Jr. Sub. Notes, Series 1, 6.243%, 05/15/16
(c),(d)
|
Baa3/BBB- | 500 | 371,250 | |||||||
Wachovia Capital Trust III, Ltd., Gtd., 5.57%, 10/31/11
(c),(d)
|
Baa3/A- | 1,000 | 820,000 | |||||||
Wells Fargo Capital XV, Ltd., Gtd., 9.75%, 10/31/11
(c),(d)
|
Baa3/A- | 500 | 497,250 | |||||||
|
||||||||||
|
27,121,419 | |||||||||
|
||||||||||
ENERGY (12.31%)
|
||||||||||
Apache Corp., Sr. Unsec. Notes, 7.70%, 03/15/26
|
A3/A- | 500 | 694,187 | |||||||
Burlington Resources, Inc., Co. Gty., 9.125%, 10/01/21
|
A2/A | 850 | 1,243,075 | |||||||
Citgo Petroleum Corp., Sr. Sec. Notes, 11.50%, 07/01/17, 144A
(b)
|
Ba2/BB+ | 900 | 1,017,000 | |||||||
CMS Panhandle Holding Co., Sr. Unsec. Notes, 7.00%, 07/15/29
|
Baa3/BBB- | 1,000 | 1,102,473 | |||||||
EL Paso Corp., Notes, 8.05%, 10/15/30
|
Ba3/BB- | 1,000 | 1,167,824 | |||||||
Enterprise Products Operating LLC, Co. Gty., Series B, 7.034%, 01/15/68
(b),(c)
|
Ba1/BB | 1,000 | 1,013,750 | |||||||
Florida Gas Transmission Co., LLC, Sr. Unsec. Notes, 9.19%, 11/01/24, 144A
|
Baa2/BBB | 140 | 182,696 | |||||||
Gaz Capital SA, Sec. Notes, 8.125%, 07/31/14, 144A
|
Baa1/BBB | 500 | 531,250 | |||||||
IFM US Colonial Pipeline 2 LLC, Sr. Sec. Notes, 6.45%, 05/01/21, 144A
(b)
|
NA/BBB- | 1,000 | 1,123,108 | |||||||
KazMunaiGaz Finance Sub BV, Sr. Unsec. Notes, 11.75%, 01/23/15, 144A
|
Baa3/BBB- | 500 | 572,500 | |||||||
KazMunayGas National Co., Sr. Unsec. Notes, 6.375%, 04/09/21, 144A
|
Baa3/BBB- | 500 | 485,000 | |||||||
Lukoil International Finance BV, Co. Gty., 6.125%, 11/09/20, 144A
|
Baa2/BBB- | 1,000 | 930,000 | |||||||
Motiva Enterprises LLC, Notes, 5.75%, 01/15/20, 144A
|
A2/A | 64 | 74,128 | |||||||
Motiva Enterprises LLC, Sr. Unsec. Notes, 6.85%, 01/15/40, 144A
|
A2/A | 124 | 156,733 | |||||||
Nabors Industries, Inc., Co. Gty., 9.25%, 01/15/19
|
Baa2/BBB | 625 | 790,634 | |||||||
NiSource Finance Corp., Co. Gty., 10.75%, 03/15/16
|
Baa3/BBB- | 250 | 324,143 | |||||||
NRG Energy, Inc., Co. Gty., 8.25%, 09/01/20
(b)
|
B1/BB- | 500 | 472,500 | |||||||
Pemex Project Funding Master Trust, Co. Gty., 6.625%, 06/15/35
|
Baa1/BBB | 105 | 112,613 | |||||||
Petrohawk Energy Corp., Co. Gty., 7.875%, 06/01/15
(b)
|
B3/BBB+ | 160 | 171,000 | |||||||
Petroleos Mexicanos, Co. Gty., 8.00%, 05/03/19
|
Baa1/BBB | 250 | 305,000 | |||||||
Petroleos Mexicanos, Co. Gty., 6.00%, 03/05/20
|
Baa1/BBB | 750 | 820,500 | |||||||
Petroleum Co. of Trinidad & Tobago, Ltd., Sr. Unsec. Notes, 9.75%, 08/14/19, 144A
|
Baa3/BBB | 500 | 591,250 | |||||||
Pride International, Inc., Sr. Unsec. Notes, 8.50%, 06/15/19
|
Baa1/BBB+ | 500 | 626,660 | |||||||
Pride International, Inc., Sr. Unsec. Notes, 6.875%, 08/15/20
|
Baa1/BBB+ | 500 | 576,942 | |||||||
SEACOR Holdings, Inc., Sr. Unsec. Notes, 7.375%, 10/01/19
|
Ba1/BB+ | 1,000 | 1,081,117 | |||||||
Shell International Finance BV, Co. Gty., 4.30%, 09/22/19
|
Aa1/AA | 1,000 | 1,123,253 | |||||||
Transocean, Inc., Co. Gty., Series C, 1.50%, 12/15/37
(b)
|
Baa3/BBB | 280 | 271,250 | |||||||
Transocean, Inc., Co. Gty., 7.50%, 04/15/31
|
Baa3/BBB | 500 | 579,244 | |||||||
Valero Energy Corp., Co. Gty., 9.375%, 03/15/19
|
Baa2/BBB | 124 | 158,903 | |||||||
Valero Energy Corp., Co. Gty., 8.75%, 06/15/30
|
Baa2/BBB | 1,000 | 1,286,365 | |||||||
Valero Energy Corp., Co. Gty., 10.50%, 03/15/39
|
Baa2/BBB | 500 | 737,068 | |||||||
Weatherford Bermuda Holdings, Ltd., Co. Gty., 6.75%, 09/15/40
|
Baa2/BBB | 2,000 | 2,132,952 | |||||||
Western Atlas, Inc., Sr. Unsec. Notes, 8.55%, 06/15/24
|
A2/A | 2,539 | 3,680,283 | |||||||
Williams Cos., Inc., Sr. Unsec. Notes, 8.75%, 03/15/32
|
Baa3/BB+ | 130 | 169,934 | |||||||
|
||||||||||
|
26,305,335 | |||||||||
|
6
Moodys/ | ||||||||||
Standard & | ||||||||||
Poors | Principal | Value | ||||||||
Rating (a) | Amount (000s) | (Note 1) | ||||||||
FOOD AND BEVERAGE (0.99%)
|
||||||||||
Anheuser-Busch InBev Worldwide, Inc., Co. Gty., 7.75%, 01/15/19
|
Baa1/A- | $ | 325 | $ | 422,073 | |||||
Anheuser-Busch InBev Worldwide, Inc., Co. Gty., 8.20%, 01/15/39
|
Baa1/A- | 27 | 40,766 | |||||||
Bunge Ltd. Finance Corp., Co. Gty., 8.50%, 06/15/19
|
Baa2/BBB- | 125 | 155,744 | |||||||
Delhaize Group SA, Co. Gty., 5.70%, 10/01/40
|
Baa3/BBB- | 709 | 734,674 | |||||||
Kraft Foods, Inc., Sr. Unsec. Notes, 5.375%, 02/10/20
|
Baa2/BBB- | 241 | 272,745 | |||||||
Smithfield Foods, Inc., Sr. Sec. Notes., 10.00%, 07/15/14
|
Ba2/BB | 290 | 329,150 | |||||||
WM Wrigley Jr. Co., Sr. Sec. Notes, 3.70%, 06/30/14, 144A
|
Baa1/NR | 165 | 170,563 | |||||||
|
||||||||||
|
2,125,715 | |||||||||
|
||||||||||
GAMING, LODGING & LEISURE (0.52%)
|
||||||||||
Firekeepers Development Authority, Sr. Sec. Notes, 13.875%, 05/01/15, 144A
(b)
|
B2/B+ | 750 | 847,500 | |||||||
Royal Caribbean Cruises Ltd., Sr. Unsec. Notes, 7.00%, 06/15/13
|
Ba2/BB | 250 | 254,374 | |||||||
|
||||||||||
|
1,101,874 | |||||||||
|
||||||||||
HEALTHCARE (1.97%)
|
||||||||||
Boston Scientific Corp., Sr. Unsec. Notes, 6.00%, 01/15/20
|
Ba1/BBB- | 500 | 560,561 | |||||||
Fresenius Medical Care US Finance, Inc., Co. Gty., 5.75%, 02/15/21, 144A
|
Ba2/BB | 750 | 723,750 | |||||||
Fresenius US Finance II, Inc., Co. Gty., 9.00%, 07/15/15, 144A
|
Ba1/BB | 250 | 276,250 | |||||||
HCP, Inc., Sr. Unsec. Notes, 5.375%, 02/01/21
(b)
|
Baa2/BBB | 1,500 | 1,505,006 | |||||||
Monsanto Co. (Pharmacia Corp.), Sr. Unsec. Notes, 6.50%, 12/01/18
|
A1/AA | 500 | 624,775 | |||||||
Mylan, Inc., Co. Gty., 7.875%, 07/15/20, 144A
(b)
|
Ba3/BB | 500 | 522,500 | |||||||
|
||||||||||
|
4,212,842 | |||||||||
|
||||||||||
INDUSTRIAL (4.66%)
|
||||||||||
Affinion Group, Inc., Co. Gty., 11.50%, 10/15/15
(b)
|
Caa1/B- | 460 | 358,800 | |||||||
Alcoa, Inc., Sr. Unsec. Notes, 6.15%, 08/15/20
|
Baa3/BBB- | 640 | 648,307 | |||||||
Alcoa, Inc., Sr. Unsec. Notes, 5.95%, 02/01/37
|
Baa3/BBB- | 244 | 227,414 | |||||||
Altria Group, Inc., Co. Gty., 9.70%, 11/10/18
|
Baa1/BBB | 317 | 420,086 | |||||||
Altria Group, Inc., Co. Gty., 10.20%, 02/06/39
|
Baa1/BBB | 29 | 42,034 | |||||||
ArcelorMittal, Sr. Unsec. Notes, 7.00%, 10/15/39
|
Baa3/BBB- | 405 | 361,208 | |||||||
Arrow Electronics, Inc., Sr. Unsec. Notes, 6.00%, 04/01/20
|
Baa3/BBB- | 500 | 533,956 | |||||||
Belden, Inc., Co. Gty., 7.00%, 03/15/17
(b)
|
Ba2/B+ | 250 | 250,000 | |||||||
Gerdau Trade, Inc., Co. Gty., 5.75%, 01/30/21, 144A
|
NR/BBB- | 500 | 473,750 | |||||||
GXS Worldwide, Inc., Sr. Sec. Notes, 9.75%, 06/15/15
(b)
|
B2/B | 65 | 62,400 | |||||||
Holcim US Finance Sarl & Cie SCS, Co. Gty., 6.00%, 12/30/19, 144A
|
Baa2/BBB | 1,000 | 1,061,338 | |||||||
Ingersoll-Rand Global Holding Co., Ltd., Co. Gty., 6.875%, 08/15/18
|
Baa1/BBB+ | 185 | 226,856 | |||||||
L-3 Communications Corp., Co. Gty., 6.375%, 10/15/15
(b)
|
Ba1/BB+ | 1,000 | 1,021,250 | |||||||
Meccanica Holdings USA, Inc., Co. Gty., 6.25%, 07/15/19, 144A
|
A3/BBB | 129 | 125,828 | |||||||
Northrop Grumman Space & Mission Systems Corp., Co. Gty., 7.75%, 06/01/29
|
Baa1/BBB+ | 500 | 707,954 | |||||||
Sealed Air Corp., Sr. Notes, 7.875%, 06/15/17
(b)
|
B1/BB | 500 | 525,987 | |||||||
Tyco International Finance SA, Co. Gty., 8.50%, 01/15/19
|
A3/A- | 93 | 121,398 | |||||||
Tyco International Ltd./Tyco International Finance SA, Co. Gty., 7.00%, 12/15/19
|
A3/A- | 1,250 | 1,561,483 | |||||||
Waste Management, Inc., Sr. Unsec. Notes, 7.125%, 12/15/17
|
Baa3/BBB | 500 | 617,819 | |||||||
Worthington Industries, Inc., Sr. Unsec. Notes, 6.50%, 04/15/20
|
Baa2/BBB | 500 | 542,228 | |||||||
XM Satellite Radio, Inc., Co. Gty., 13.00%, 08/01/13, 144A
|
B2/BB- | 57 | 63,840 | |||||||
|
||||||||||
|
9,953,936 | |||||||||
|
||||||||||
INSURANCE (6.16%)
|
||||||||||
AIG SunAmerica, Inc., Sr. Unsec. Notes, 8.125%, 04/28/23
|
Baa1/A- | 750 | 846,130 | |||||||
American International Group, Inc., Jr. Sub. Debs., 8.175%, 05/15/68
(b),(c)
|
Baa2/BBB | 2,000 | 1,765,000 | |||||||
Farmers Exchange Capital, Sub. Notes, 7.20%, 07/15/48, 144A
|
Baa2/BBB+ | 3,000 | 3,234,312 | |||||||
Guardian Life Insurance Co., Sub. Notes, 7.375%, 09/30/39, 144A
|
A1/AA- | 108 | 142,433 | |||||||
Liberty Mutual Group, Inc., Bonds, 7.00%, 03/15/34, 144A
|
Baa2/BBB- | 250 | 255,699 |
7
Moodys/ | ||||||||||
Standard & | ||||||||||
Poors | Principal | Value | ||||||||
Rating (a) | Amount (000s) | (Note 1) | ||||||||
INSURANCE (Continued)
|
||||||||||
Liberty Mutual Group, Inc., Co. Gty., 10.75%, 06/15/88, 144A
(b),(c)
|
Baa3/BB | $ | 1,000 | $ | 1,190,000 | |||||
Lincoln National Corp. Jr. Sub. Notes, 6.05%, 04/20/67
(b),(c)
|
Ba1/BBB | 500 | 405,000 | |||||||
Manulife Financial Corp., Sr. Unsec. Notes, 4.90%, 09/17/20
|
NR/A- | 250 | 263,358 | |||||||
Massachusetts Mutual Life Insurance Co., Sub. Notes, 8.875%, 06/01/39, 144A
|
A1/AA- | 500 | 752,879 | |||||||
MetLife Capital Trust X, Jr. Sub. Notes, 9.25%, 04/08/68, 144A
(b)
|
Baa2/BBB | 500 | 562,500 | |||||||
MetLife, Inc., Jr. Sub. Notes, 10.75%, 08/01/69
(b)
|
Baa2/BBB | 1,000 | 1,250,000 | |||||||
Nationwide Mutual Insurance Co., Sub. Notes, 9.375%, 08/15/39, 144A
|
A3/A- | 215 | 250,468 | |||||||
New York Life Insurance Co., Sub. Notes, 6.75%, 11/15/39, 144A
|
Aa2/AA- | 103 | 127,330 | |||||||
Prudential Financial, Inc., Jr. Sub. Notes, 8.875%, 06/15/68
(b),(c)
|
Baa3/BBB+ | 1,000 | 1,078,750 | |||||||
Travelers Cos., Inc., Jr. Sub. Notes, 6.25%, 03/15/67
(b),(c)
|
A3/BBB+ | 500 | 525,000 | |||||||
XL Capital Europe PLC, Co. Gty., 6.50%, 01/15/12
|
Baa2/BBB+ | 500 | 507,439 | |||||||
|
||||||||||
|
13,156,298 | |||||||||
|
||||||||||
MEDIA (8.81%)
|
||||||||||
CBS Corp., Co. Gty., 8.875%, 05/15/19
|
Baa2/BBB- | 350 | 447,005 | |||||||
Cengage Learning Acquisitions, Inc., Sr. Discount Notes, 13.25%, 07/15/15,
144A
(b),(e)
|
Caa2/CCC+ | 500 | 285,000 | |||||||
Charter Communications Operating LLC, Sec. Notes, 8.00%, 04/30/12, 144A
|
Ba2/BB+ | 150 | 152,250 | |||||||
Comcast Cable Holdings LLC, Co. Gty., 9.80%, 02/01/12
|
Baa1/BBB+ | 1,500 | 1,540,473 | |||||||
Comcast Corp., Co. Gty., 7.05%, 03/15/33
|
Baa1/BBB+ | 2,000 | 2,439,336 | |||||||
COX Communications, Inc., Sr. Unsec. Notes, 6.80%, 08/01/28
|
Baa2/BBB | 1,500 | 1,730,045 | |||||||
COX Enterprises, Inc., Sr. Unsec. Notes, 7.375%, 07/15/27, 144A
|
Baa2/BBB | 500 | 600,938 | |||||||
Grupo Televisa SA, Sr. Unsec. Notes, 6.625%, 01/15/40
|
Baa1/BBB+ | 159 | 167,745 | |||||||
Harcourt General, Inc., Sr. Unsec. Notes, 8.875%, 06/01/22
|
WR/BBB+ | 2,000 | 2,738,324 | |||||||
Interpublic Group of Cos., Inc., Sr. Unsec. Notes, 10.00%, 07/15/17
(b)
|
Baa3/BB+ | 500 | 568,750 | |||||||
Myriad International Holding BV, Co. Gty., 6.375%, 07/28/17, 144A
|
Baa3/NR | 100 | 103,750 | |||||||
NBC Universal, Inc., Sr. Unsec. Notes, 5.15%, 04/30/20
|
Baa2/BBB+ | 175 | 191,902 | |||||||
NBC Universal, Inc., Sr. Unsec. Notes, 5.95%, 04/01/41
|
Baa2/BBB+ | 95 | 105,686 | |||||||
News America Holdings, Inc., Co. Gty., 7.90%, 12/01/95
|
Baa1/BBB+ | 1,400 | 1,543,433 | |||||||
Time Warner Entertainment Co., LP, Co. Gty., 8.375%, 07/15/33
|
Baa2/BBB | 1,360 | 1,773,520 | |||||||
Time Warner, Inc., Co. Gty., 9.15%, 02/01/23
|
Baa2/BBB | 3,000 | 4,114,050 | |||||||
Viacom, Inc., Co. Gty., 7.875%, 07/30/30
|
Baa2/BBB- | 250 | 315,612 | |||||||
|
||||||||||
|
18,817,819 | |||||||||
|
||||||||||
MINING (2.13%)
|
||||||||||
Anglo American Capital PLC, Co. Gty., 9.375%, 04/08/14, 144A
|
Baa1/BBB+ | 339 | 393,810 | |||||||
Anglo American Capital PLC, Co. Gty., 9.375%, 04/08/19, 144A
|
Baa1/BBB+ | 500 | 662,191 | |||||||
AngloGold Ashanti Holdings PLC, Co. Gty., 5.375%, 04/15/20
|
Baa3/BBB- | 310 | 303,714 | |||||||
Barrick North America Finance LLC, Co. Gty., 6.80%, 09/15/18
|
Baa1/A- | 500 | 609,261 | |||||||
Freeport-McMoran Copper & Gold, Inc., Sr. Unsec. Notes, 8.375%, 04/01/17
(b)
|
Baa3/BBB | 500 | 536,250 | |||||||
Freeport-McMoran Corp., Co. Gty., 9.50%, 06/01/31
|
Baa2/BBB | 250 | 367,229 | |||||||
Rio Tinto Finance USA Ltd., Co. Gty., 9.00%, 05/01/19
|
A3/A- | 85 | 114,390 | |||||||
Teck Resources Ltd., Co. Gty., 6.00%, 08/15/40
(b)
|
Baa2/BBB | 1,000 | 1,029,200 | |||||||
Vale Overseas Ltd., Co. Gty., 6.25%, 01/23/17
|
Baa2/BBB+ | 500 | 542,000 | |||||||
|
||||||||||
|
4,558,045 | |||||||||
|
||||||||||
PAPER (1.85%)
|
||||||||||
Cenveo Corp., Co. Gty., 10.50%, 08/15/16, 144A
(b)
|
Caa1/CCC+ | 400 | 320,000 | |||||||
Georgia-Pacific LLC, Co. Gty., 5.40%, 11/01/20, 144A
|
Baa3/BBB | 670 | 681,601 | |||||||
Smurfit Capital Funding PLC, Co. Gty., 7.50%, 11/20/25
|
Ba2/BB | 2,000 | 1,820,000 | |||||||
Westvaco Corp., Co. Gty., 8.20%, 01/15/30
|
Ba1/BBB | 1,000 | 1,133,707 | |||||||
|
||||||||||
|
3,955,308 | |||||||||
|
8
Moodys/ | ||||||||||
Standard & | ||||||||||
Poors | Principal | Value | ||||||||
Rating (a) | Amount (000s) | (Note 1) | ||||||||
REAL ESTATE INVESTMENT TRUST (REIT) (4.57%)
|
||||||||||
Biomed Realty LP, Co. Gty., 6.125%, 04/15/20
|
Baa3/BBB- | $ | 350 | $ | 369,156 | |||||
Duke Realty LP, Sr. Unsec. Notes, 6.50%, 01/15/18
|
Baa2/BBB- | 500 | 537,486 | |||||||
Duke Realty LP, Sr. Unsec. Notes, 8.25%, 08/15/19
|
Baa2/BBB- | 500 | 572,735 | |||||||
Federal Realty Investment Trust, Sr. Unsec. Notes, 5.40%, 12/01/13
|
Baa1/BBB+ | 750 | 792,182 | |||||||
Federal Realty Investment Trust, Sr. Unsec. Notes, 6.20%, 01/15/17
|
Baa1/BBB+ | 290 | 323,598 | |||||||
Goodman Funding Property, Ltd., Sr. Unsec. Notes, 6.375%, 04/15/21, 144A
|
Baa3/BBB | 1,050 | 1,079,919 | |||||||
Health Care REIT, Inc., Sr. Unsec. Notes, 5.25%, 01/15/22
(b)
|
Baa2/BBB- | 1,500 | 1,422,414 | |||||||
Host Hotels & Resorts LP, 6.00%, 11/01/20
(b)
|
Ba1/BB+ | 1,000 | 972,500 | |||||||
Liberty Property LP, Sr. Unsec. Notes, 7.50%, 01/15/18
|
Baa2/BBB | 1,000 | 1,166,862 | |||||||
Nationwide Health Properties, Inc., Sr. Unsec. Notes, 6.00%, 05/20/15
|
BAA2/BBB- | 500 | 549,371 | |||||||
Simon Property Group LP, Sr. Unsec. Notes, 6.125%, 05/30/18
|
A3/A- | 750 | 843,267 | |||||||
WEA Finance, LLC, Co. Gty., 7.125%, 04/15/18, 144A
|
A2/A- | 500 | 571,153 | |||||||
WEA Finance, LLC, Co. Gty., 6.75%, 09/02/19, 144A
|
A2/A- | 500 | 555,584 | |||||||
|
||||||||||
|
9,756,227 | |||||||||
|
||||||||||
RETAIL & RESTAURANT (0.59%)
|
||||||||||
Darden Restaurants, Inc., Sr. Unsec. Notes, 7.125%, 02/01/16
|
Baa2/BBB | 500 | 577,966 | |||||||
Levi Strauss & Co., Sr. Unsec. Notes, 8.875%, 04/01/16
(b)
|
B2/B+ | 500 | 505,000 | |||||||
Limited Brands, Inc., Co. Gty., 8.50%, 06/15/19
|
Ba1/BB+ | 150 | 169,500 | |||||||
|
||||||||||
|
1,252,466 | |||||||||
|
||||||||||
TECHNOLOGY (0.08%)
|
||||||||||
Corning, Inc., Sr. Unsec. Notes, 5.75%, 08/15/40
|
A3/BBB+ | 60 | 68,336 | |||||||
Mantech International Corp., Co. Gty., 7.25%, 04/15/18
(b)
|
Ba2/BB+ | 100 | 99,000 | |||||||
|
||||||||||
|
167,336 | |||||||||
|
||||||||||
TELECOMMUNICATIONS (9.03%)
|
||||||||||
AT&T, Inc., Sr. Unsec. Notes, 5.35%, 09/01/40
|
A2/A- | 2,548 | 2,663,431 | |||||||
Cellco Partnership/Verizon Wireless Capital LLC, Sr. Unsec. Notes, 8.50%, 11/15/18
|
A2/A- | 229 | 305,152 | |||||||
Centel Capital Corp., Co. Gty., 9.00%, 10/15/19
|
Baa2/BBB- | 1,000 | 1,125,922 | |||||||
Deutsche Telekom International Finance BV, Co. Gtd., 8.75%, 06/15/30
|
Baa1/BBB+ | 2,000 | 2,667,622 | |||||||
Frontier Communications Corp., Sr. Unsec. Notes, 8.125%, 10/01/18
|
Ba2/BB | 500 | 490,000 | |||||||
Frontier Communications Corp., Sr. Unsec. Notes, 9.00%, 08/15/31
|
Ba2/BB | 500 | 426,250 | |||||||
GTE Corp., Co. Gty., 6.94%, 04/15/28
|
Baa1/A- | 1,500 | 1,853,594 | |||||||
Hearst-Argyle Television, Inc., Sr. Unsec. Notes, 7.00%, 01/15/18
|
WR/NR | 1,000 | 820,691 | |||||||
Level 3 Financing, Inc., Co, Gty., 10.00%, 02/01/18
(b)
|
Caa1/CCC | 610 | 585,600 | |||||||
NII Capital Corp., Co. Gty., 10.00%, 08/15/16
(b)
|
B2/B+ | 500 | 547,500 | |||||||
Qwest Corp., Sr. Unsec. Notes, 7.20%, 11/10/26
(b)
|
Baa3/BBB- | 1,000 | 950,000 | |||||||
Qwest Corp., Sr. Unsec. Notes, 6.875%, 09/15/33
(b)
|
Baa3/BBB- | 1,100 | 1,039,500 | |||||||
Qwest Corp., Sr. Unsec. Notes, 7.25%, 10/15/35
(b)
|
Baa3/BBB- | 500 | 480,000 | |||||||
Sprint Capital Corp., Co. Gty., 6.875%, 11/15/28
|
B1/BB- | 1,500 | 1,121,250 | |||||||
Sprint Capital Corp., Co. Gty., 8.75%, 03/15/32
|
B1/BB- | 1,000 | 868,750 | |||||||
Trilogy International Partners LLC, Sr. Sec. Notes, 10.25%, 08/15/16, 144A
(b)
|
Caa1/CCC+ | 100 | 98,000 | |||||||
Verizon Communications, Inc., Sr. Unsec. Notes, 8.75%, 11/01/18
|
A3/A- | 292 | 391,026 | |||||||
Verizon Global Funding Corp., Sr. Unsec. Notes, 7.75%, 12/01/30
|
A3/A- | 1,646 | 2,262,440 | |||||||
Virgin Media Finance PLC, Co. Gty., 8.375%, 10/15/19
(b)
|
BA2/BB- | 550 | 584,375 | |||||||
|
||||||||||
|
19,281,103 | |||||||||
|
||||||||||
TRANSPORTATION (5.14%)
|
||||||||||
American Airlines Pass Through Trust, Pass Through Certs., Series 2001-02, 7.858%, 04/01/13
|
Ba1/BBB- | 2,500 | 2,498,750 | |||||||
BNSF Funding Trust I, Co. Gty., 6.613%, 12/15/55
(b),(c)
|
Baa2/BBB | 250 | 251,562 | |||||||
Continental Airlines, Pass Through Certs., Series 1999-1, Class B, 6.795%, 02/02/20
|
Ba1/BB | 585 | 558,340 |
9
Moodys/ | ||||||||||
Standard & | ||||||||||
Poors | Principal | Value | ||||||||
Rating (a) | Amount (000s) | (Note 1) | ||||||||
TRANSPORTATION (Continued)
|
||||||||||
Continental Airlines, Pass Through Certs., Series 2000-A1, 8.048%, 05/01/22
|
Baa2/BBB | $ | 870 | $ | 905,290 | |||||
Continental Airlines, Pass Through Certs., Series 2000-A1, 7.707%, 10/02/22
|
Baa2/BBB | 1,241 | 1,278,161 | |||||||
Delta Air Lines, Pass Through Certs, Series 1993-A2, 10.50%, 04/30/16
|
WR/NR | 349 | 148,947 | |||||||
ERAC USA Finance, Co., Co. Gty., 7.00%, 10/15/37, 144A
|
Baa1/BBB+ | 1,500 | 1,747,500 | |||||||
Federal Express Corp., Pass Through Certs, Series 1996-B2, 7.84%, 01/30/18
(b)
|
Baa1/BBB | 1,000 | 1,113,840 | |||||||
Federal Express Corp., Sr. Unsec. Notes, 9.65%, 06/15/12
|
Baa2/BBB | 1,750 | 1,852,009 | |||||||
Norfolk Southern Corp., Sr. Unsec. Notes, 5.75%, 04/01/18
|
Baa1/BBB+ | 170 | 199,260 | |||||||
Stena AB, Sr. Unsec. Notes, 7.00%, 12/01/16
(b)
|
Ba3/BB+ | 500 | 435,000 | |||||||
|
||||||||||
|
10,988,659 | |||||||||
|
||||||||||
UTILITIES (4.07%)
|
||||||||||
Avista Corp., 5.95%, 06/01/18
|
A3/A- | 500 | 611,043 | |||||||
Avista Corp., 5.125%, 04/01/22
|
A3/A- | 500 | 574,226 | |||||||
Dominion Resources, Inc., Sr. Unsec. Notes, Series 07-A, 6.00%, 11/30/17
|
Baa2/A- | 500 | 591,447 | |||||||
Duquesne Light Holdings, Inc., Sr. Unsec. Notes, 6.40%, 09/15/20, 144A
|
Ba1/BBB- | 1,000 | 1,035,867 | |||||||
Georgia Power Co., Sr. Unsec. Notes, 5.40%, 06/01/40
|
A3/A | 110 | 129,818 | |||||||
Hydro-Quebec, 8.25%, 04/15/26
|
Aa2/A+ | 1,550 | 2,283,161 | |||||||
MidAmerican Funding LLC, Sr. Sec. Bonds, 6.927%, 03/01/29
|
A3/BBB+ | 500 | 632,725 | |||||||
NextEra Energy Capital Holding, Inc., Jr. Sub. Notes., Series D, 7.30%,
09/01/67
(b),(c)
|
Baa2/BBB | 500 | 517,500 | |||||||
Ohio Power Co., Sr. Unsec. Notes, 6.00%, 06/01/16
|
Baa1/BBB | 500 | 575,301 | |||||||
Ohio Power Co., Sr. Unsec. Notes, 5.375%, 10/01/21
|
Baa1/BBB | 1,000 | 1,118,601 | |||||||
Toledo Edison Co., 7.25%, 05/01/20
|
Baa1/BBB | 500 | 632,381 | |||||||
|
||||||||||
|
8,702,070 | |||||||||
|
||||||||||
TOTAL CORPORATE DEBT SECURITIES
(Cost of $156,195,974)
|
171,689,252 | |||||||||
|
||||||||||
|
||||||||||
ASSET BACKED SECURITIES (0.85%)
|
||||||||||
Credit-Based Asset Servicing and Securitization LLC, Series 2006-SC1, Class A, 0.505%,
05/25/36, 144A
(b),(c)
|
Aa3/AAA | 63 | 43,071 | |||||||
Option One Mortgage Loan Trust, Series 2007-FXD2, Class 2A1, 5.90%,
03/25/37
(e)
|
Aa3/AA+ | 222 | 210,981 | |||||||
Renaissance Home Equity Loan Trust, Series 2006-3, Class AF2, 5.58%,
11/25/36
(e)
|
B3/B- | 165 | 98,638 | |||||||
Small Business Administration Participation Certificates, Series 2010-20F, Class 1,
3.88%, 06/01/30
|
Aaa/AA+ | 310 | 328,227 | |||||||
Sonic Capital LLC, Series 2011-1A, Class A2, 5.438%, 05/20/41, 144A
|
Baa2/BBB | 1,114 | 1,133,241 | |||||||
|
||||||||||
TOTAL ASSET BACKED SECURITIES
(Cost of $1,860,165)
|
1,814,158 | |||||||||
|
||||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES (6.68%)
|
||||||||||
American Tower Trust, Series 2007-1A, Class AFX, 5.42%, 04/15/37, 144A
|
Aaa/AAA | 700 | 747,588 | |||||||
Banc of America Merrill Lynch Commercial Mortgage, Inc., Series 2006-2, Class AJ,
5.956%, 05/10/45
(c)
|
NA/BBB- | 1,000 | 818,618 | |||||||
Banc of America Merrill Lynch Commercial Mortgage, Inc., Series 2006-2,
Class AM, 5.956%, 05/10/45
(c)
|
NA/A | 1,440 | 1,424,130 | |||||||
Citigroup/Deutsche Bank Commercial Mortgage Trust, Series 2007-CD4,
Class A4, 5.322%, 12/11/49
|
Aaa/A- | 285 | 293,778 | |||||||
Credit Suisse Mortgage Capital Certificates, Series 2006-C5, Class AM,
5.343%, 12/15/39
|
Aa1/BBB | 100 | 88,890 | |||||||
CW Capital Cobalt, Ltd., Series 2007-C2, Class A3, 5.484%, 04/15/47
(c)
|
Aaa/NA | 500 | 529,817 | |||||||
Developers Diversified Realty Corp., Series 2009-DDR1, Class C, 6.223%,
10/14/22, 144A
|
A2/A | 500 | 513,357 | |||||||
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2005-FL1A,
Class E, 0.549%, 02/15/19, 144A
(c)
|
Aa1/AA | 424 | 413,190 | |||||||
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2005-LDP5,
Class AJ, 5.493%, 12/15/44
(c)
|
Aa3/A | 60 | 52,571 | |||||||
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2006-CB17,
Class AM, 5.464%, 12/12/43
|
Aa2/NA | 100 | 91,518 |
10
Moodys/ | ||||||||||
Standard & | ||||||||||
Poors | Principal | Value | ||||||||
Rating (a) | Amount (000s) | (Note 1) | ||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)
|
||||||||||
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2007-LDPX,
Class A3, 5.42%, 01/15/49
|
Aaa/NA | $ | 160 | $ | 165,893 | |||||
JPMorgan Chase Commercial Mortgage Securities Corp., Series 2006-CB16,
Class A4, 5.552%, 05/12/45
|
Aaa/AAA | 1,000 | 1,072,899 | |||||||
JPMorgan Chase Commercial Mortgage Securities Corp., Series 2007-CB20,
Class A4, 5.794%, 02/12/51
(c)
|
Aaa/A+ | 880 | 948,629 | |||||||
LB-UBS Commercial Mortgage Trust, Series 2006-C4, Class AM,
6.087%, 06/15/38
(c)
|
Aa3/BBB+ | 2,000 | 1,952,672 | |||||||
LB-UBS Commercial Mortgage Trust, Series 2007-C1, Class A4,
5.424%, 02/15/40
|
NA/A+ | 970 | 1,023,746 | |||||||
LB-UBS Commercial Mortgage Trust, Series 2007-C2, Class A3,
5.43%, 02/15/40
|
NA/A- | 1,375 | 1,412,100 | |||||||
Merrill Lynch Countrywide Commercial Mortgage Trust, Series 2007-6,
Class A4, 5.485%, 03/12/51
(c)
|
Aaa/NR | 110 | 112,850 | |||||||
Merrill Lynch Mortgage Trust, Series 2005-CIP1, Class AM, 5.107%, 07/12/38
(c)
|
Aaa/NA | 30 | 29,565 | |||||||
Merrill Lynch Mortgage Trust, Series 2006-C2, Class AM, 5.782%, 08/12/43
(c)
|
A2/A | 1,000 | 934,244 | |||||||
Merrill Lynch Mortgage Trust, Series 2007-CI, Class AM, 6.022%, 06/12/50
(c)
|
NA/BBB- | 140 | 121,210 | |||||||
Morgan Stanley Capital I, Series 2007-IQ16, Class A4, 5.809%, 12/12/49
|
NA/A+ | 750 | 805,319 | |||||||
Morgan Stanley Reremic Trust, Series 2009-GG10, Class A4B, 5.984%,
08/12/45,
144A (c) |
A3/NA | 210 | 195,973 | |||||||
Wachovia Bank Commercial Mortgage Trust, Series 2006-C28, Class A3,
5.679%, 10/15/48
|
Aaa/NR | 500 | 537,594 | |||||||
|
||||||||||
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES
(Cost of $12,365,735)
|
14,286,151 | |||||||||
|
||||||||||
|
||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIES (2.51%)
|
||||||||||
FHLMC Pool # 170128, 11.50%, 06/01/15
|
Aaa/AA+ | 2 | 2,462 | |||||||
FHLMC Pool # 360019, 10.50%, 12/01/17
|
Aaa/AA+ | 4 | 4,224 | |||||||
FHLMC Pool # A15675, 6.00%, 11/01/33
|
Aaa/AA+ | 607 | 673,326 | |||||||
FHLMC Pool # B11892, 4.50%, 01/01/19
|
Aaa/AA+ | 500 | 542,174 | |||||||
FHLMC Pool # G00182, 9.00%, 09/01/22
|
Aaa/AA+ | 6 | 6,692 | |||||||
FNMA Pool # 124012, 12.50%, 10/01/15
|
Aaa/AA+ | 4 | 3,935 | |||||||
FNMA Pool # 303022, 8.00%, 09/01/24
|
Aaa/AA+ | 20 | 23,824 | |||||||
FNMA Pool # 303136, 8.00%, 01/01/25
|
Aaa/AA+ | 12 | 14,478 | |||||||
FNMA Pool # 55192, 10.50%, 09/01/17
|
Aaa/AA+ | 7 | 7,813 | |||||||
FNMA Pool # 58991, 11.00%, 02/01/18
|
Aaa/AA+ | 4 | 4,447 | |||||||
FNMA Pool # 754791, 6.50%, 12/01/33
|
Aaa/AA+ | 774 | 868,732 | |||||||
FNMA Pool # 763852, 5.50%, 02/01/34
|
Aaa/AA+ | 1,003 | 1,095,807 | |||||||
FNMA Pool # 889554, 6.00%, 04/01/38
|
Aaa/AA+ | 347 | 380,570 | |||||||
FNMA Pool # AH9793, 4.50%, 05/01/41
|
Aaa/AA+ | 1,491 | 1,583,528 | |||||||
GNSF Pool # 194228, 9.50%, 11/15/20
|
Aaa/AA+ | 49 | 58,015 | |||||||
GNSF Pool # 307527, 9.00%, 06/15/21
|
Aaa/AA+ | 30 | 35,136 | |||||||
GNSF Pool # 417239, 7.00%, 02/15/26
|
Aaa/AA+ | 31 | 35,878 | |||||||
GNSF Pool # 780374, 7.50%, 12/15/23
|
Aaa/AA+ | 14 | 16,678 | |||||||
|
||||||||||
TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES
(Cost of $4,865,286)
|
5,357,719 | |||||||||
|
||||||||||
|
||||||||||
MUNICIPAL BONDS (1.72%)
|
||||||||||
Municipal Electric Authority of Georgia, Build America Bonds-Taxable-Plant
Vogle Units 3&4, Series J, Revenue Bond, 6.637%, 04/01/57, 6.637%, 04/01/57
|
A2/A+ | 175 | 186,991 | |||||||
San Francisco City & County Public Utilities Commission, Water Revenue,
Build America Bonds, 6.000%, 11/01/40, 6.00%, 11/01/40
|
Aa3/AA- | 145 | 170,137 | |||||||
State of California, Build America Bonds, GO, 7.55%, 04/01/39, 7.55%, 04/01/39
|
A1/A- | 500 | 613,130 | |||||||
State of California, Build America Bonds, GO, 7.625%, 03/01/40, 7.625%, 03/01/40
|
A1/A- | 1,500 | 1,849,080 | |||||||
State of Illinois, Build America Bonds, GO, 7.35%, 07/01/35, 7.35%, 07/01/35
|
A1/A+ | 755 | 849,609 | |||||||
|
||||||||||
TOTAL MUNICIPAL BONDS
(Cost of $3,267,729)
|
3,668,947 | |||||||||
|
11
Moodys/ | ||||||||||
Standard & | ||||||||||
Poors | Principal | Value | ||||||||
Rating (a) | Amount (000s) | (Note 1) | ||||||||
U.S. TREASURY SECURITIES (3.57%)
|
||||||||||
U.S. Treasury Bond, 3.875%, 08/15/40
|
Aaa/AA+ | $ | 94 | $ | 111,684 | |||||
U.S. Treasury Note, 1.125%, 12/15/11
|
Aaa/AA+ | 500 | 501,074 | |||||||
U.S. Treasury Note, 0.875%, 02/29/12
|
Aaa/AA+ | 2,350 | 2,357,614 | |||||||
U.S. Treasury Note, 1.00%, 03/31/12
|
Aaa/AA+ | 1,100 | 1,104,851 | |||||||
U.S. Treasury Note, 0.375%, 09/30/12
|
Aaa/AA+ | 2,600 | 2,605,078 | |||||||
U.S. Treasury Note, 1.50%, 06/30/16
|
Aaa/AA+ | 375 | 385,343 | |||||||
U.S. Treasury Note, 1.50%, 07/31/16
|
Aaa/AA+ | 210 | 215,645 | |||||||
U.S. Treasury Note, 3.125%, 05/15/21
|
Aaa/AA+ | 310 | 344,075 | |||||||
|
||||||||||
TOTAL U.S. TREASURY SECURITIES
(Cost of $7,566,258)
|
7,625,364 | |||||||||
|
||||||||||
GOVERNMENT BOND (0.05%)
|
||||||||||
Brazilian Government International Bond, Sr. Unsec. Notes, 4.875%, 01/22/21
|
Baa2/NR | 100 | 106,900 | |||||||
|
||||||||||
TOTAL GOVERNMENT BOND
(Cost of $102,475)
|
106,900 | |||||||||
|
||||||||||
|
||||||||||
Shares | ||||||||||
COMMON STOCK (0.02%)
|
||||||||||
MEDIA (0.01%)
|
||||||||||
Quad
Graphics, Inc.
|
1,488 | 26,888 | ||||||||
|
||||||||||
|
||||||||||
TRANSPORTATION (0.01%)
|
||||||||||
Delta Air Lines, Inc.
(f)
|
2,203 | 16,519 | ||||||||
|
||||||||||
TOTAL COMMON STOCK
(Cost of $98,309)
|
43,407 | |||||||||
|
||||||||||
|
||||||||||
PREFERRED STOCK (0.25%)
|
||||||||||
Federal Home Loan Mortgage Corp., Series Z
(f)
|
53,779 | 110,919 | ||||||||
US BANCORP, Series A
(f)
|
615 | 428,963 | ||||||||
|
||||||||||
TOTAL PREFERRED STOCK
(Cost of $1,783,939)
|
539,882 | |||||||||
|
||||||||||
|
||||||||||
RIGHTS (0.00%)
|
||||||||||
XO Holdings, Inc., Expire 12/31/99
|
13 | | ||||||||
|
||||||||||
TOTAL INVESTMENTS (96.02%)
(Cost $188,105,870) |
205,131,780 | |||||||||
|
||||||||||
OTHER ASSETS AND LIABILITIES (3.98%)
|
8,496,313 | |||||||||
|
||||||||||
NET ASSETS (100.00%)
|
$ | 213,628,093 | ||||||||
|
(a) | Ratings for debt securities are unaudited. All ratings are as of September 30, 2011 and may have changed subsequently. | |
(b) | This security is callable. | |
(c) | Variable rate security. Rate disclosed is as of September 30, 2011. | |
(d) | Security is perpetual. Date shown is next call date. | |
(e) | Multi-Step Coupon. Rate disclosed is as of September 30, 2011. | |
(f) | Non-income producing security. | |
144A | Securities were purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. At September 30, 2011, these securities amounted to $38,694,057 or 18.11% of net assets. |
12
13
Assets:
|
||||
Investment in securities, at value (amortized cost $188,105,870) (Note 1)
|
$ | 205,131,780 | ||
Cash
|
5,368,451 | |||
Receivables for investments sold
|
171 | |||
Interest receivable
|
3,461,044 | |||
Dividend receivable
|
5,717 | |||
Prepaid expenses
|
27,092 | |||
|
||||
TOTAL ASSETS
|
213,994,255 | |||
|
||||
|
||||
Liabilities:
|
||||
Payable to Investment Adviser
|
161,057 | |||
Accrued expenses payable
|
205,105 | |||
|
||||
TOTAL LIABILITIES
|
366,162 | |||
|
||||
Net assets: (equivalent to $19.95 per share based on 10,708,597 shares
of capital stock outstanding)
|
$ | 213,628,093 | ||
|
||||
|
||||
NET ASSETS consisted of:
|
||||
Par value
|
$ | 107,086 | ||
Capital paid-in
|
218,896,489 | |||
Accumulated net investment income
|
309,340 | |||
Accumulated net realized loss on investments
|
(22,710,732 | ) | ||
Net unrealized appreciation on investments
|
17,025,910 | |||
|
||||
|
$ | 213,628,093 | ||
|
14
Investment Income:
|
||||||||
Interest
|
$ | 6,663,413 | ||||||
Dividends
|
17,977 | |||||||
Other income
|
3,938 | |||||||
|
||||||||
Total Investment Income
|
6,685,328 | |||||||
|
||||||||
|
||||||||
Expenses:
|
||||||||
Investment advisory fees (Note 4)
|
$ | 483,642 | ||||||
Administration fees
|
96,016 | |||||||
Transfer agent fees
|
40,030 | |||||||
Trustees fees
|
33,776 | |||||||
Audit fees
|
13,194 | |||||||
Legal fees and expenses
|
49,222 | |||||||
Reports to shareholders
|
25,254 | |||||||
Custodian fees
|
10,827 | |||||||
Insurance
|
22,226 | |||||||
NYSE fee
|
12,534 | |||||||
Miscellaneous
|
27,313 | |||||||
|
||||||||
Total Expenses
|
814,034 | |||||||
|
||||||||
Net Investment Income
|
5,871,294 | |||||||
|
||||||||
Realized and unrealized gain (loss) on investments
(Note 1):
|
||||||||
Net realized gain from security transactions
|
396,944 | |||||||
|
||||||||
|
||||||||
Unrealized appreciation (depreciation) of investments:
|
||||||||
Beginning of the period
|
17,774,795 | |||||||
End of the period
|
17,025,910 | |||||||
|
||||||||
Change in unrealized depreciation of investments
|
(748,885 | ) | ||||||
|
||||||||
Net realized and unrealized loss on investments
|
(351,941 | ) | ||||||
|
||||||||
Net increase in net assets resulting from operations
|
$ | 5,519,353 | ||||||
|
15
Six months ended | ||||||||
September 30, 2011 | Year ended | |||||||
(Unaudited) | March 31, 2011 | |||||||
Increase (decrease) in net assets:
|
||||||||
Operations:
|
||||||||
Net investment income
|
$ | 5,871,294 | $ | 9,493,950 | ||||
Net realized gain from security transactions (Note 2)
|
396,944 | 574,233 | ||||||
Change in unrealized appreciation (depreciation) of investments and warrants
|
(748,885 | ) | 4,379,990 | |||||
|
||||||||
Net increase in net assets resulting from operations
|
5,519,353 | 14,448,173 | ||||||
|
||||||||
Distributions:
|
||||||||
Distributions to shareholders from net investment income
|
(6,157,443 | ) | (8,735,491 | ) | ||||
|
||||||||
Capital Share Transactions:
|
||||||||
Proceeds from merger (Note 7)
|
| 83,300,387 | ||||||
|
||||||||
Increase (decrease) in net assets
|
(638,090 | ) | 89,013,069 | |||||
Net Assets:
|
||||||||
Beginning of year
|
214,266,183 | 125,253,114 | ||||||
|
||||||||
End of year
|
$ | 213,628,093 | $ | 214,266,183 | ||||
|
||||||||
Accumulated net investment income
|
$ | 309,340 | $ | 595,489 | ||||
|
16
Six months ended | ||||||||||||||||||||||||
September 30, 2011 | Year ended March 31, | |||||||||||||||||||||||
(Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Per Share Operating Performance
|
||||||||||||||||||||||||
Net asset value, beginning of period
|
$ | 20.01 | $ | 19.10 | $ | 15.63 | $ | 19.01 | $ | 20.01 | $ | 19.72 | ||||||||||||
|
||||||||||||||||||||||||
Net investment income
|
0.55 | (1) | 1.14 | 1.19 | 1.06 | 1.10 | 1.09 | |||||||||||||||||
Net realized and unrealized gain (loss)
on investments
|
(0.03 | ) | 0.92 | 4.31 | (3.29 | ) | (0.95 | ) | 0.35 | |||||||||||||||
|
||||||||||||||||||||||||
Total from investment operations
|
0.52 | 2.06 | 5.50 | (2.23 | ) | 0.15 | 1.44 | |||||||||||||||||
|
||||||||||||||||||||||||
Capital share transaction:
|
||||||||||||||||||||||||
Dilution of the net asset value from rights
offering (Note 6)
|
| | (0.88 | ) | | | | |||||||||||||||||
|
||||||||||||||||||||||||
|
||||||||||||||||||||||||
Less distributions:
|
||||||||||||||||||||||||
Dividends from net investment income
|
(0.58 | ) | (1.15 | ) | (1.15 | ) | (1.15 | ) | (1.15 | ) | (1.15 | ) | ||||||||||||
|
||||||||||||||||||||||||
Total distributions
|
(0.58 | ) | (1.15 | ) | (1.15 | ) | (1.15 | ) | (1.15 | ) | (1.15 | ) | ||||||||||||
|
||||||||||||||||||||||||
Net asset value, end of period
|
$ | 19.95 | $ | 20.01 | $ | 19.10 | $ | 15.63 | $ | 19.01 | $ | 20.01 | ||||||||||||
|
||||||||||||||||||||||||
Per share market price, end of period
|
$ | 18.32 | $ | 18.03 | $ | 17.12 | $ | 13.77 | $ | 17.14 | $ | 18.30 | ||||||||||||
|
||||||||||||||||||||||||
Total Investment Return
(2)
|
||||||||||||||||||||||||
Based on market value
|
4.79 | % | 12.23 | % | 33.60 | % | (13.62 | )% | (0.10 | )% | 9.93 | % | ||||||||||||
Ratios/Supplemental Data
|
||||||||||||||||||||||||
Net assets, end of period (in 000s)
|
$ | 213,628 | $ | 214,266 | $ | 125,253 | $ | 76,720 | $ | 93,282 | $ | 98,197 | ||||||||||||
Ratio of expenses to average net assets
|
0.75 | % | 0.79 | % | 0.85 | % | 1.21 | % | 0.88 | % | 1.00 | % | ||||||||||||
Ratio of net investment income to average
net assets
|
5.43 | % | 5.76 | % | 6.16 | % | 6.18 | % | 5.66 | % | 5.57 | % | ||||||||||||
Portfolio turnover rate
|
6.21 | % | 19.91 | % | 15.40 | % | 21.46 | % | 17.25 | % | 25.90 | % | ||||||||||||
Number of shares outstanding at the end of
the period (in 000s)
|
10,709 | 10,709 | 6,559 | 4,908 | 4,908 | 4,908 |
(1) | The selected per share data was calculated using the average shares outstanding method. | |
(2) | Total investment return is calculated assuming a purchase of common shares at the market price on the first day and a sale at the market price on the last day of the period reported. Dividends and distributions, if any, are assumed for purposes of this calculation to be reinvested at prices obtained under the Funds dividend reinvestment plan. Total investment return does not reflect brokerage commissions. The total investment return, if for less than a full year, is not annualized. Past performance is not a guarantee of future results. |
17
A. | Security Valuation In valuing the Funds net assets, all securities for which representative market quotations are available will be valued at the last quoted sales price on the securitys principal exchange on the day of valuation. If there are no sales of the relevant security on such day, the security will be valued at the bid price at the time of computation. Prices for securities traded in the over-the-counter market, including listed debt and preferred securities, whose primary market is believed to be over-the-counter, normally are supplied by independent pricing services. Securities for which market quotations are not readily available will be valued at their respective fair values as determined in good faith by, or under procedures established by the Board of Trustees. At September 30, 2011, there were no securities valued using fair value procedures. | |
Fair Value Measurements The Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion in changes in valuation techniques and related inputs during the period and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below: |
|
| Level 1 | | Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. | ||||
|
| Level 2 | | Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. | ||||
|
| Level 3 | | Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Funds own assumptions about the assumptions a market participant would used in valuing the asset or liability, and would be based on the best information available. |
18
Following is a description of the valuation techniques applied to the Funds major categories of assets measured at fair value on a recurring basis as of September 30, 2011. |
Level 2 | Level 3 | |||||||||||||||
Total Market | Level 1 | Significant | Significant | |||||||||||||
Value at | Quoted | Observable | Unobservable | |||||||||||||
09/30/11 | Price | Inputs | Inputs | |||||||||||||
COMMON STOCK*
|
$ | 43,407 | $ | 43,407 | $ | | $ | | ||||||||
CORPORATE DEBT SECURITIES
|
171,689,252 | | 171,689,252 | | ||||||||||||
ASSET BACKED SECURITIES
|
1,814,158 | | 1,814,158 | | ||||||||||||
COMMERCIAL
MORTGAGE-BACKED
SECURITIES
|
14,286,151 | | 14,286,151 | | ||||||||||||
RESIDENTIAL
MORTGAGE-BACKED
SECURITIES
|
5,357,719 | | 5,357,719 | | ||||||||||||
MUNICIPAL BOND
|
3,668,947 | | 3,668,947 | | ||||||||||||
U.S. TREASURY SECURITIES
|
7,625,364 | | 7,625,364 | | ||||||||||||
GOVERNMENT BOND
|
106,900 | | 106,900 | | ||||||||||||
PREFERRED STOCK
|
539,882 | 539,882 | | | ||||||||||||
TOTAL INVESTMENTS
|
$ | 205,131,780 | $ | 583,289 | $ | 204,548,491 | $ | |
* | See Schedule of Investments for industry breakout. | |
| All assets in Level 3 as of September 30, 2011 were valued using broker quotes. |
Following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determined fair value: |
Corporate Debt Securities | ||||
(Market Value) | ||||
Balance as of March 31, 2011
|
$ | 358,595 | ||
Accrued discounts/premiums
|
| |||
Unrealized gain (loss)
|
(8,387 | ) | ||
Change in unrealized appreciation (depreciation)
|
(12,014 | ) | ||
Net purchases (sales)
|
(338,194 | ) | ||
Transfer into Level 3
|
| |||
|
||||
Balance as of September 30, 2011
|
$ | | ||
|
At the end of each calendar quarter, management evaluates the Level 2 and 3 assets and liabilities for changes in liquidity, including but not limited to: whether a broker is willing to execute at the quoted price, the depth and consistency of prices from third party services, and the existence of contemporaneous, observable trades in the market. Additionally, management evaluates Level 1 and 2 assets and liability on a quarterly basis for changes in listings or delistings on national exchanges. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Funds investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values the Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities. The Funds policy is to recognize the values transfers in and out as of the beginning of the fiscal period. For the six months ended September 30, 2011, there were no significant transfers between Level 1 and 2 for the Fund. |
19
B. | Determination of Gains or Losses on Sale of Securities Gains or losses on the sale of securities are calculated for financial reporting purposes and for federal tax purposes using the identified cost basis. The identified cost basis for financial reporting purposes differs from that used for federal tax purposes in that the amortized cost of the securities sold is used for financial reporting purposes and the original cost of the securities sold is used for federal tax purposes, except for those instances where tax regulations require the use of amortized cost. | |
C. | Federal Income Taxes It is the Funds policy to continue to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable income to its shareholders. Therefore, no federal income tax provision is required. | |
Management has analyzed the Funds tax positions taken on federal income tax returns for all open tax years (tax years March 31, 2008-2011) or expected to be taken on the Funds 2011 tax return, and has concluded that no provision for federal income tax is required in the Funds financial statements. The Funds federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue. | ||
D. | Other Security transactions are accounted for on the trade date. Interest income is accrued daily. Premiums and discounts are amortized using the interest method. Paydown gains and losses on mortgage-backed and asset-backed securities are presented as an adjustment to interest income. Dividend income and distributions to shareholders are recorded on the ex-dividend date. | |
E. | Distributions to Shareholders and Book/Tax Differences Distributions of net investment income will be made quarterly. Distributions of any net realized capital gains will be made annually. Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP. These differences are primarily due to differing treatments for amortization of market premium and accretion of market discount and the merger with the Hartford Income Shares Fund. Distributions during the fiscal years ended March 31, 2011 and 2010 were characterized as follows for tax purposes: |
Ordinary Income | Return of Capital | Capital Gain | Total Distribution | |||||||||||||
FY 2011
|
$ | 8,735,491 | $ | | $ | | $ | 8,735,491 | ||||||||
FY 2010
|
$ | 6,593,096 | $ | | $ | | $ | 6,593,096 |
At March 31, 2011, the components of distributable earnings on a tax basis were as follows: |
Accumulated | Capital Loss | Post-October | Net Unrealized | |||||||||||||||||
Total* | Ordinary Income | Carryforward and Other | Loss | Appreciation | ||||||||||||||||
$ | (4,737,392 | ) | $ | 1,316,484 | $ | (22,972,163 | ) | $ | (77,112 | ) | $ | 16,995,399 |
* | Temporary differences include book amortization and deferral of post-October losses, if any, which will be recognized for the tax year ending March 31, 2011. |
20
As of March 31, 2011, the capital loss carryovers available to offset possible future capital gains were as follows: |
Amount | Expiration Date | |||||||
|
$ | 1,767,533 | 2012 | |||||
|
571,125 | 2013 | ||||||
|
746,582 | 2015 | ||||||
|
5,234,565 | 2016 | ||||||
|
11,082,544 | 2017 | ||||||
|
3,569,697 | 2018 |
Capital loss carryforwards are subject to usage limitations. During the year ended March 31, 2011, capital loss carryforwards in the amount of $256,756 were utilized and $6,163,041 were expired off and cannot be used going forward. | ||
At September 30, 2011, the following table shows for federal tax purposes the aggregate cost of investments, the net unrealized appreciation of those investments, the aggregate gross unrealized appreciation of all securities with an excess of market value over tax cost and the aggregate gross unrealized depreciation of all securities with an excess of tax cost over market value: |
Aggregate | Net Unrealized | Gross Unrealized | Gross Unrealized | |||
Tax Cost | Appreciation | Appreciation | (Depreciation) | |||
$188,105,870
|
$17,025,910 | $22,113,849 | $(5,087,939) |
The difference between book basis and tax-basis unrealized appreciation is attributable primarily to the differing treatments for amortization of market premium and accretion of market discount. |
F. | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Cost of | Proceeds from Sales | |||||||
Purchases | or Maturities | |||||||
U.S. Government Securities
|
$ | 3,688,053 | $ | 2,398,890 | ||||
Other Investment Securities
|
$ | 9,361,873 | $ | 15,323,288 |
21
Merged Fund | Shares Exchanged | Acquiring Fund | Shares Issued | Net Asset Value | Conversion Ratio | |||||||||||||||
Hartford Income Shares Fund, Inc.
|
13,066,832 | Rivus Bond Fund | 4,150,026 | $ | 20.07 | 0.3176 |
22
Unrealized | ||||||||||||||||
Appreciation/ | ||||||||||||||||
Merged Fund | Net Assets | (Depreciation) | Acquiring Fund | Net Assets | ||||||||||||
Hartford Income Shares Fund, Inc.
|
$ | 83,300,387 | $ | 2,952,824 | Rivus Bond Fund | $ | 131,643,157 |
Net investment income/(loss)
|
$ | 12,031,298 | ||
Net realized and unrealized gain/(loss) on investments
|
$ | 7,016,957 | ||
Net increase in assets from operations
|
$ | 19,048,255 |
23
24
Votes Cast | ||||||||
in Favor | Withheld | |||||||
W. Thacher Brown
|
8,189,649 | 162,728 | ||||||
Suzanne P. Welsh
|
8,179,027 | 173,350 | ||||||
Morris Lloyd, Jr.
|
8,087,929 | 264,448 | ||||||
Ellen D. Harvey
|
8,177,374 | 175,003 |
25
26
27
28
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form. |
(a) | The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). | ||
(b) | There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrants second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting. |
(a)(1) Not applicable. |
(a)(2) Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(3) Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes- Oxley Act of 2002 are attached hereto. |
(registrant) Rivus Bond Fund | ||||
|
||||
By (Signature and Title)*
|
/s/ Clifford D. Corso | |||
|
|
|||
|
(principal executive officer) | |||
|
||||
Date 12/1/11 |
By (Signature and Title)*
|
/s/ Clifford D. Corso | |||
|
|
|||
|
(principal executive officer) | |||
|
||||
Date 12/1/11 | ||||
|
||||
By (Signature and Title)*
|
/s/ Joseph L. Sevely
|
|||
|
(principal financial officer) | |||
|
||||
Date 12/1/11 |
* | Print the name and title of each signing officer under his or her signature. |
1 Year Rivus Bond Fund Chart |
1 Month Rivus Bond Fund Chart |
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