Aberdeen Global Fixed Income Fund

Fund Holdings

Name	Ticker	Security No.	Shares	Market Value	Percent
Cash		Cash	1547746	1547746.31	4.81%
JAPAN (GOVT OF) 0.8% 20/03/14 JPY	JGB 0.8 03/20/14	EH7559816	110000000	1422553.88	4.42%
JAPAN (GOVT OF) 0.8% 20/06/23 62 JPY	JGB .8 06/20/23	ED0114584	105000000	1321735.52	4.11%
SINGAPORE (GOVT OF) 3.625% 01/07/14 SGD	SIGB 3.625 07/01/14	ED5174146	1400000	1178828.28	3.67%
JAPAN-275 (10 YEAR ISSUE) 1.4% 20/12/2015 JPY	JGB 1.4 12/20/15	EF2389833	70000000	939008.19	2.92%
JAPAN (GOVT OF) 0.3% 09/20/15 JPY	JGB 0.3 09/20/15	EI4426645	65000000	834725.48	2.60%
US TREASURY N/B	T 3.625 02/15/20	912828MP2	500000	597476.45	1.86%
SVENSKA HANDELSBANKEN AB	SHBASS 2.875 04/04/17	86960BAB8	500000	509493.54	1.58%
JAPAN (GOVT OF) 1.4% 20/12/18 240 JPY	JGB 1.4 12/20/18	EH6435695	33000000	450495.64	1.40%
EUROPEAN INVST BANK 4.75% 15/10/17 EMTN EUR	EIB 4.75 10/15/17	EG5980628	300000	441888.28	1.37%
US TREASURY N/B	T 4.375 05/15/41	912810QQ4	286000	389135.90	1.21%
Canada (Govt Of) 4% 01/06/17 CAD	CAN 4 06/01/17	135087YF5	350000	388474.03	1.21%
UK TREASURY 4.25% 07/09/39 GBP	UKT 4.25 09/07/39	EH7368119	200000	388368.19	1.21%
Govt of Canada 5.75% 01/06/29 MTN CAD	CAN 5.75 06/01/29	135087WL4	260000	386655.21	1.20%
FRANCE (GOVT OF) 3.25% VAR 25/10/21 EUR	FRTR 3.25 10/25/21	EI6940791	280000	382687.66	1.19%
Govt of Japan 30-year 2.3 3/20/39 JPY	JGB 2.3 03/20/39	EH7911181	25000000	356955.61	1.11%
JAPAN (GOVT OF) 1.1% 20/03/33 10 JPY	JGB 1.1 03/20/33	EC9747782	30000000	346036.62	1.08%
SWEDEN (KING OF) 5.5% 08/10/12 SEK	SGB 5.5 10/08/12	EC5343081	2100000	303267.11	0.94%
NETHERLANDS (KING OF) 3.5% 15/07/20 EUR	NETHER 3.5 07/15/20	EI1321401	200000	295301.82	0.92%
NEDER WATERSCHAPSBANK 3% 17/03/15 EMTN USD	NEDWBK 3 03/17/15	EI1597331	270000	282581.10	0.88%
ROYAL BK OF SCOTLAND GRP 5.25% 15/05/13 EMTN EUR	RBS 5.25 05/15/13	EH3542311	200000	254801.36	0.79%
UK TREASURY 4.25% 07/03/36 GBP	UKT 4.25 03/07/36	EC8677113	130000	252119.19	0.78%
TELEFONICA EMISIONES 4.967% 03/02/16 EMTN EUR	TELEFO 4.967 02/03/16	EI8482107	200000	249218.31	0.78%
BANKIA SAU	BKIASM 3.5 03/14/13	EI3987886	200000	243592.20	0.76%
JAPAN (GOVT OF) (10 YEAR ISSUE) 1.3% 20/03/19 299 JPY	JGB 1.3 03/20/19	EH7440579	16000000	216387.17	0.67%
UK TREASURY 2.75% 22/01/15 GBP	UKT 2.75 01/22/15	EI0278347	130000	214995.57	0.67%
ITALY (REP OF) 5% 01/03/22 EUR	BTPS 5 03/01/22	EI7933985	180000	211702.49	0.66%
ABN AMRO BANK NV	ABNANV 4.25 02/02/17	00084DAE0	200000	203845.72	0.63%
DNB BANK ASA	DNBNO 3.2 04/03/17	23329PAA8	200000	203291.51	0.63%
NORDEA BANK AB	NDASS 2.25 03/20/15	65557FAC0	200000	201358.70	0.63%
ROYAL BK OF SCOTLAND 2.75% 18/06/13 COVB EMTN EUR	RBS 2.75 06/18/13	EI2787956	150000	193790.68	0.60%
BP CAPITAL MARKETS PLC	BPLN 1.846 05/05/17	05565QBY3	190000	190597.87	0.59%
ITALY (REP OF) 5% 01/09/40 EUR	BTPS 5 09/01/40	EH9691161	160000	170187.43	0.53%
AUSTRIA (REP OF) 6.25% 15/07/27 97 6 EUR	RAGB 6.25 07/15/27	GG7292566	90000	168979.25	0.53%
GERMANY (FED REP OF) 3.5% 04/01/16 05 EUR	DBR 3.5 01/04/16	EF1729336	120000	168460.58	0.52%
ABBEY NATL TREASURY SERV 5.25% 16/02/29 COVB EMTN GBP	ABBEY 5.25 02/16/29	EJ0166466	100000	166718.40	0.52%
NETWORK RAIL INFRA FIN 2.5% 07/03/14 EMTN GBP	UKRAIL 2.5 03/07/14	EI5711144	100000	159961.12	0.50%
AGENCE FRANCAISE DEVELOP	AGFRNC 4.615 12/31/49	EF5576055	150000	158564.81	0.49%
US TREASURY N/B	T 0.125 09/30/13	912828RK8	158000	157817.47	0.49%
TESCO 5.875% 12/09/16 EMTN EUR	TSCOLN 5.875 09/12/16	EH5383417	100000	150850.03	0.47%
US TREASURY N/B	T 5.375 02/15/31	912810FP8	100000	149626.91	0.47%
US TREASURY N/B	T 0.25 02/15/15	912828SE1	149000	148760.24	0.46%
AMER MOVIL SAB DE 4.125% 25/10/19 EUR	AMXLMM 4.125 10/25/19	EI8537074	100000	138626.46	0.43%
US TREASURY N/B	T 4.5 02/15/36	912810FT0	100000	137775.90	0.43%
AMADEUS CAP MARKT	AMSSM 4.875 07/15/16	EI7360494	100000	135164.83	0.42%
LLOYDS TSB BANK 4.125% 06/04/16 COVB EMTN EUR	LLOYDS 4.125 04/06/16	EI6287979	100000	135062.59	0.42%
SOCIETE GENERALE SFH 3.25% 06/06/16 COVB EMTN EUR	SOCSFH 3.25 06/06/16	EI6902460	100000	134841.83	0.42%
ABBEY NATL TREASURY SERV 3.625% 05/10/17 COVB EMTN EUR	ABBEY 3.625 10/05/17	EI4189300	100000	134732.98	0.42%
TELSTRA CORP 3.5% 21/09/22 EUR	TLSAU 3.5 09/21/22	EJ0952857	100000	134533.72	0.42%
EUROPEAN UNION 3% 04/09/26 EMTN EUR	EU 3 09/04/26	EI8232262	100000	134425.62	0.42%
TDC 3.75 02/03/22 EMTN EUR	TDCDC 3.75 03/02/22	EJ0414361	100000	134200.29	0.42%
VOLKSWAGEN LEASING 3.25% 10/05/18 EMTN EUR	VW 3.25 05/10/18	EI8615334	100000	132992.08	0.41%
PROGRESS ENERGY INC	PGN 3.15 04/01/22	743263AS4	130000	132531.17	0.41%
BPCE SFH-SOCIETE DE FI 3.625% 12/05/16 COVB EUR	BPCECB 3.625 05/12/16	EI6645168	100000	132405.19	0.41%
Com of Australia 6% 15/02/17 217 AUD	ACGB 6 02/15/17	ED4972490	115000	131933.51	0.41%
CASINO GUICHARD PERRACHON 4.379% 08/02/17 EMTN EUR	COFP 4.379 02/08/17	EI1369046	100000	131796.62	0.41%
ABBEY NATL TREASURY SERV 3.125% 30/06/14 COVB EUR	ABBEY 3.125 06/30/14	EI3041577	100000	131502.02	0.41%
NATIONWIDE BLDG SOC 3.875% 05/12/13 COVB EMTN EUR	NWIDE 3.875 12/05/13	EF9312903	100000	131330.79	0.41%
LUXOTTICA GRP 3.625% 19/03/19 EMTN EUR	LUXIM 3.625 03/19/19	EJ0702336	100000	130860.90	0.41%
FMS WERTMANAGEMENT 2.25% 14/07/14 EMTN EUR	FMSWER 2.25 07/14/14	EI7380435	100000	130573.68	0.41%
UNICREDIT SPA	UCGIM 4.25 07/31/18	EI7036649	100000	130025.05	0.40%
LLOYDS TSB BANK 4.625% 02/02/17 EMTN EUR	LLOYDS 4.625 02/02/17	EJ0018808	100000	129788.84	0.40%
BPCE SFH-SOCIETE DE FI 2.75% 16/02/17 COVB EMTN EUR	BPCECB 2.75 02/16/17	EJ0141253	100000	128663.44	0.40%
TERRA BOLIGKREDITT 2.125% 31/08/15 COVB EMTN EUR	TERBOL 2.125 08/31/15	EI3830987	100000	128679.52	0.40%
SOCIETE GENERALE SFH 2.875% 14/03/19 COVB EMTN EUR	SOCSFH 2.875 03/14/19	EJ0493225	100000	128433.47	0.40%
UK TREASURY 6% 07/12/28 GBP	UKT 6 12/07/28	GG7375726	55000	128394.97	0.40%
VOLKSWAGEN INTL FIN 2.125% 19/01/15 EMTN EUR	VW 2.125 01/19/15	EI9538949	100000	127402.23	0.40%
CAJA AHORROS GUIPUZCOA	KUTXAB 4.375 11/05/14	EI4504789	100000	126319.15	0.39%
US TREASURY N/B	T 1.25 04/30/19	912828ST8	122000	124124.63	0.39%
BBVA SENIOR FINANCE 3% 22/08/13 EMTN EUR	BBVASM 3 08/22/13	EJ0168983	100000	122481.66	0.38%
GAS NATURAL CAP 4.375% 02/11/16 EMTN EUR	GASSM 4.375 11/02/16	EI0121109	100000	122447.14	0.38%
INTESA SANPAOLO 5% 28/02/17 EMTN EUR	ISPIM 5 02/28/17	EJ0371777	100000	121991.30	0.38%
CITIGROUP INC	C 2.65 03/02/15	172967FY2	120000	119934.31	0.37%
TELECOM ITALIA FIN 7.75% 24/01/33 EMTN EUR	TITIM 7.75 01/24/33	EC8174871	90000	115869.04	0.36%
SPAIN (KING OF) 4.8% 31/01/24 EUR	SPGB 4.8 01/31/24	EH5475882	105000	112883.12	0.35%
CA UNIV OF CA-TXBL-AD REV	UNVHGR 4.858 05/15/12	91412GHA6	100000	105862.50	0.33%
APACHE CORP	APA 4.75 04/15/43	037411BA2	95000	105224.68	0.33%
SLM STUDENT LOAN TR 03-10	SLMA 4.05 09/17/10	ED1611836	100000	104443.07	0.32%
COMMONWEALTH BANK AUST	CBAAU 3.25 03/17/16	2027A0FR5	100000	104351.16	0.32%
COUNCIL OF EUROPE 5.625% 14/12/15 MTN AUD	COE 5.625 12/14/15	EF1905506	100000	104042.80	0.32%
ACRE 2010-ARTA A2FL	ACRE 0 01/14/29	03063NAG2	100000	101958.55	0.32%
ARKLE 2010-2A 1A1	ARKLE 0 05/17/60	041239CD4	100000	100631.64	0.31%
US TREASURY N/B	T 0.375 03/15/15	912828SK7	100000	100165.48	0.31%
RABOBANK NEDERLAND UTREC	RABOBK 3.375 01/19/17	21686CAD2	90000	93439.26	0.29%
SG CAP TST III 5.419% FRN 29/11/49 EUR	SOCGEN 5.419 49	ED1924197	100000	92758.92	0.29%
TESCO 6.125% 24/02/22 EMTN GBP	TSCOLN 6.125 02/24/22	EH7284886	50000	92119.73	0.29%
EUROFIMA 6% 30/03/22 EMTN AUD	EUROF 6 03/30/22	EG2844025	90000	91809.43	0.29%
BCAP 2009-RR2 A1	BCAP 0 01/21/38	05531QAA7	90933	91310.28	0.28%
Netherlands (Kingdom of) 4.5% 15/07/15 EUR	NETHER 4.5 07/15/17	EG6293930	60000	90411.04	0.28%
GERMANY (FED REP OF) 4.75% 04/07/28 98 EUR	DBR 4.75 07/04/28	EC0518513	50000	90222.08	0.28%
ROMULUS FINANCE S.R.L.	ROMFIN 4.94 02/20/13	EC8583865	70000	89737.06	0.28%
SPAIN (KING OF) 5.5% 30/04/21 EUR	SPGB 5.5 04/30/21	EI5421264	77000	89692.80	0.28%
POLAND (REP OF) 5.5% 25/04/15 0415 PLN	POLGB 5.5 04/25/15	EI0646675	310000	89104.94	0.28%
JPMORGAN CHASE N CO	JPM 5.4 01/06/42	48126BAA1	80000	88884.48	0.28%
FN 891386	FN 5.5 10/01/35	31410MJ76	80648	88811.94	0.28%
OMNICOM GROUP INC	OMC 4.45 08/15/20	682134AC5	80000	88172.94	0.27%
NY PORT AUTH NY NJ REV	PORTRN 6.04 12/01/29	73358WAJ3	65000	87613.50	0.27%
FN AB3690	FN 4 10/01/41	31417AC49	81676	87349.60	0.27%
LLOYDS TSB BANK 6.75% 24/10/18 EMTN GBP	LLOYDS 6.75 10/24/18	EH5978430	50000	85799.66	0.27%
FG G01840	FG 5 07/01/35	3128LXBH2	78972	85713.50	0.27%
DENMARK (KING OF) 4.5% 15/11/39 DKK	DGB 4.5 11/15/39	EH6131138	300000	83100.18	0.26%
CA SAN DIEGO REGIONAL TRANSP COMM	SDGTRN 5.911 04/01/48	797400FN3	60000	83094.10	0.26%
WAL-MART STORES 4.875% 21/09/29 EUR	WMT 4.875 09/21/29	EH9746197	50000	83004.65	0.26%
FN AK3264	FN 3 02/01/27	3138E7TW4	78595	82648.28	0.26%
BK NEDERLANDSE GEMEENTEN 1.375% 23/03/15 REGS USD	BNG 1.375 03/23/15	EJ0952410	80000	80132.98	0.25%
SWEDISH COVERED BOND3% 03/02/15 COVB EMTN EUR	SBAB 3 02/03/15	EI1291745	60000	78853.94	0.25%
BOSTON SCIENTIFIC CORP	BSX 6 01/15/20	101137AK3	65000	78703.08	0.24%
FGLMC 3.5% 30YR JUNE TBA	FGLMC 3.5 06/01/42	02R032661	75000	78574.22	0.24%
OH AMERICAN MUN PWR REV	AMEPWR 7.834 02/15/41	02765UEJ9	55000	78200.47	0.24%
JPMORGAN CHASE & CO	JPM 3.45 03/01/16	46625HHX1	75000	77915.71	0.24%
BMW FINANCE 3.375% 14/12/18 EMTN GBP	BMW 3.375 12/14/18	EJ0003099	48000	77912.05	0.24%
GERMANY (FED REP OF) 4.75% 04/07/34 03 EUR	DBR 4.75 07/04/34	EC8300625	40000	77783.81	0.24%
INTL PAPER CO	IP 7.95 06/15/18	460146CA9	60000	77654.00	0.24%
UDR INC REIT	UDR 4.25 06/01/18	91019PCS9	70000	75876.15	0.24%
CMS ENERGY CORP	CMS 6.55 07/17/17	125896BA7	65000	75567.09	0.23%
INTL LEASE FINANCE CORP	AIG 6.5 09/01/14	459745FY6	70000	74812.50	0.23%
CSMC 2009-8R 5A1	CSMC 0 05/26/37	12641RBN9	72032	74574.41	0.23%
NATIONWIDE BLDG SOCIETY	NWIDE 6.75 07/22/20	EI3233547	60000	73157.72	0.23%
PHILIP MORRIS INTL 5.75% 24/03/16 EMTN EUR	PM 5.75 03/24/16	EH7621616	50000	72595.13	0.23%
FNR 2012-44 GA	FNR 4 05/25/42	3136A5B54	64744	71029.33	0.22%
NY MET TRN AUTH-A2-BABS REV	MTATRN 6.089 11/15/40	59259NZN6	55000	70327.74	0.22%
CAISSE REFINANCE LHABIT 4% 10/01/22 COVB EMTN EUR	CRH 4 01/10/22	EI6917252	50000	70270.11	0.22%
ANHEUSER-BUSCH INBEV 4% 26/04/18 EMTN EUR	ABIBB 4 04/26/18	EI2239560	50000	70235.90	0.22%
FNR 2011-6 PH	FNR 4 02/25/41	31397QUK2	65000	70207.23	0.22%
FN AO2099	FN 4 05/01/42	3138LSKM1	64918	69427.89	0.22%
RIO TINTO FIN USA LTD	RIOLN 6.5 07/15/18	767201AC0	55000	69324.51	0.22%
ELECTRICITE DE FRANCE 4.625% 26/04/30 EMTN EUR	EDF 4.625 04/26/30	EI2313704	50000	69270.79	0.22%
ONCOR ELECTRIC DELIVERY	ONCRTX 4.55 12/01/41	68233JAN4	70000	67426.46	0.21%
GERMANY (FED REP OF) 2% 04/01/22 EUR	DBR 2 01/04/22	EI8792380	50000	67413.19	0.21%
FN AJ1422	FN 5 09/01/41	3138ASSL7	61241	66993.28	0.21%
GE CAP UK FUNDING 4.375% 31/07/19 GBP	GE 4.375 07/31/19	EJ0020002	40000	66120.42	0.21%
CF INDUSTRIES INC	CF 6.875 05/01/18	12527GAA1	55000	65902.60	0.21%
FNR 2011-2 PD	FNR 4 12/25/39	31397QGZ5	60000	65594.48	0.20%
FNR 2012-40 GC	FNR 4.5 12/25/40	3136A5BH8	60000	65394.13	0.20%
GERMANY (FED REP OF) 1.25% 14/10/16 161 EUR	OBL 1.25 10/14/16	EI8206944	50000	65046.09	0.20%
BLACKSTONE HOLDINGS FINA	BX 6.625 08/15/19	09256BAA5	58000	65001.70	0.20%
NATIONWIDE BLDG SOC 3.75% 20/01/15 EUR	NWIDE 3.75 01/20/15	EI1080817	50000	64984.50	0.20%
GA MEAG PROJECT J	MELPWR 6.637 04/01/57	626207YF5	55000	64759.29	0.20%
IL CHICAGO TRANSIT AUTH	CHITRN 6.2 12/01/40	16772PAQ9	55000	64611.80	0.20%
US TREASURY N/B	T 2 02/15/22	912828SF8	61000	63832.00	0.20%
FRANCE (GOVT OF) 4.75% 25/04/35 EUR	FRTR 4.75 04/25/35	ED3871594	40000	63435.01	0.20%
GOLDMAN SACHS GP	GS 5.125 01/15/15	38141GEA8	60000	63048.37	0.20%
CITIGROUP INC	C 4.45 01/10/17	172967FW6	60000	62994.31	0.20%
HEWLETT-PACKARD CO	HPQ 4.3 06/01/21	428236BM4	60000	62387.82	0.19%
FNR 2011-124 JM	FNR 4 02/25/41	3136A2L50	57891	62308.95	0.19%
TIME WARNER CABLE INC	TWC 5.875 11/15/40	88732JAY4	55000	60954.20	0.19%
SBA TOWER TRUST	SBAC 5.101 04/17/17	78403DAB6	55000	60681.78	0.19%
CBS CORP	CBS 8.875 05/15/19	124857AC7	45000	60351.19	0.19%
JPMRR 2009-7 2A1	JPMRR 6 02/27/37	46633PAC6	59074	60333.59	0.19%
FNR 2011-76 PB	FNR 2.5 04/25/39	3136A0WP8	58623	60169.10	0.19%
FHR 3980 EP	FHR 5 01/15/42	3137AKL66	53050	59655.44	0.19%
JPMRR 2009-7 17A1	JPMRR 0 07/27/37	46633PBG6	58812	59301.63	0.18%
AXA SA	AXASA 6.6666 12/31/49	EF5279742	50000	58692.38	0.18%
AMERICAN INTL GROUP	AIG 4.875 09/15/16	026874CB1	55000	58621.95	0.18%
DIRECTV HOLDINGS/FING	DTV 5.875 10/01/19	25459HAU9	50000	58255.88	0.18%
FG Q04603	FG 4 11/01/41	3132GKX84	53831	57917.82	0.18%
BARCLAYS BANK 6% 14/01/21 EMTN EUR	BACR 6 01/14/21	EI3180771	50000	57478.79	0.18%
HSBC CAP FUNDING LP 5.3687% FRN 29/10/49 EUR	HSBC 5.3687 03/49	ED1785069	50000	56873.04	0.18%
FN 995228	FN 6.5 11/01/38	31416BSR0	49550	56573.23	0.18%
FN 966202	FN 6 12/01/37	31414G3K3	50713	56240.04	0.17%
US TREASURY N/B	T 0.25 02/28/14	912828SG6	56000	56031.01	0.17%
ING BANK 6.125% FRN 29/05/23 EMTN EUR	INTNED 6.125 05/29/23	EH3740253	50000	55835.53	0.17%
ROYAL BK OF SCOTLAND 6.934% 09/04/18 EMTN EUR	RBS 6.934 04/09/18	EH2931606	50000	55378.29	0.17%
NATIONWIDE MUTUAL INSURA	NATMUT 9.375 08/15/39	638671AK3	41000	55339.06	0.17%
AFFILIATED COMPUTER SVCS	XRX 5.2 06/01/15	008190AH3	50000	55305.50	0.17%
HSBC FINANCE CORP	HSBC 6.676 01/15/21	40429CGD8	50000	55300.92	0.17%
PRUDENTIAL FINANCIAL INC	PRU 4.5 11/16/21	74432QBT1	52000	55111.32	0.17%
US TREASURY N/B	T 0.25 01/31/14	912828SB7	55000	55046.09	0.17%
ENERGY TRANSFER PARTNERS	ETP 5.2 02/01/22	29273RAQ2	50000	53921.48	0.17%
JPMRR 2009-8 A1	JPMRR 0 04/20/36	46633TAA2	52761	53846.82	0.17%
GNR 2012-24 MN	GNR 4 11/20/39	38378C2W6	49566	53831.44	0.17%
AVIVA 6.875% FRN 22/05/38 EMTN EUR	AVLN 6.875 05/22/38	EH3633888	50000	53475.49	0.17%
HCP INC	HCP 3.75 02/01/16	40414LAC3	50000	53071.15	0.17%
BCAP 2009-RR6 3A1	BCAP 0 12/26/37	05531YAE2	53670	52907.60	0.16%
FN AI5595	FN 5 07/01/41	3138AKGD5	47701	52497.48	0.16%
DPABS 2012-1A A2	DPABS 5.216 01/25/42	25755TAC4	49812	52250.46	0.16%
ERAC USA FINANCE COMPANY	ENTERP 6.2 11/01/16	26882PAX0	45000	51842.64	0.16%
FHR 3659 VG	FHR 5 09/15/34	31398VVS2	45000	51788.63	0.16%
JPMCC 2007-LD11 ASB	JPMCC 0 06/15/49	46631BAF2	47282	51279.72	0.16%
FG G13774	FG 5.5 12/01/20	3128MCMX0	46809	50991.37	0.16%
FG A95803	FG 4 12/01/40	312944NU1	46359	50366.59	0.16%
NY NYC MUN WTR REV	NYCUTL 5.44 06/15/43	64972FT63	40000	50202.58	0.16%
JPMRR 2009-7 14A1	JPMRR 0 07/27/37	46633PBA9	51145	50075.60	0.16%
CSMC 2009-3R 30A1	CSMC 0 07/27/37	22943YUR8	48874	49875.29	0.16%
FNR 2011-31 PB	FNR 4 01/25/40	31397SHM9	45000	49340.68	0.15%
CAREFUSION CORP	CFN 5.125 08/01/14	14170TAF8	45000	49184.25	0.15%
WFNMT 2010-A M	WFNMT 5.2 04/15/19	981464CK4	45000	48713.29	0.15%
FNR 2012-16 WH	FNR 4 07/25/41	3136A4SB6	45000	48480.25	0.15%
WEA FINANCE/WT FIN AUST	WDCAU 6.75 09/02/19	92933WAB4	40000	48338.78	0.15%
BROCADE COMMUNICATIONS	BRCD 6.625 01/15/18	111621AG3	45000	48263.75	0.15%
FN 685200	FN 5 03/01/18	31400EGH7	43674	47490.67	0.15%
ANADARKO PETROLEUM CORP	APC 6.375 09/15/17	032511BH9	40000	47367.85	0.15%
FN AK4827	FN 3.5 04/01/42	3138E9LH1	44890	47315.05	0.15%
INSTITUT CREDITO OFICIAL 4.5% 07/03/13 EMTN GBP	ICO 4.5 03/07/13	EF3121540	30000	46687.16	0.15%
FHR 3715 PC	FHR 4.5 08/15/40	3137A0TC9	40000	46546.32	0.14%
Forward CZECH REPUB KORUNA	MMC US	571748102	950000	45491.88	0.14%
JPMRR 2009-7 1A1	JPMRR 0 08/27/37	46633PAA0	45756	45477.96	0.14%
JPMCC 2007-LD12 A4	JPMCC 0 02/15/51	46632HAD3	40000	45441.13	0.14%
G2 783356	G2 6 06/20/41	36241LWR3	39210	44413.17	0.14%
FG G06784	FG 3.5 10/01/41	3128M82R4	41915	44086.18	0.14%
MEDCO HEALTH SOLUTIONS I	ESRX 7.125 03/15/18	58405UAD4	35000	43980.75	0.14%
CSMC 2009-2R 2A5	CSMC 0 06/26/37	22944FBW8	44445	43962.49	0.14%
BARRICK NA FINANCE LLC	ABXCN 6.8 09/15/18	06849RAB8	35000	43588.32	0.14%
FINNISH (REP OF) 3.5% 15/04/21 EUR	RFGB 3.5 04/15/21	EI5769118	30000	43415.44	0.14%
JABIL CIRCUIT INC	JBL 5.625 12/15/20	466313AF0	40000	43137.50	0.13%
WAL-MART STORES INC	WMT 3.25 10/25/20	931142CZ4	40000	43060.88	0.13%
AGILENT TECHNOLOGIES INC	A 6.5 11/01/17	00846UAC5	35000	42531.46	0.13%
FN AK6972	FN 3.5 03/01/27	3138EBXA8	39583	42386.59	0.13%
G2 769101	G2 4 07/20/41	36176LGJ8	38389	41985.34	0.13%
SDART 2011-4 B	SDART 2.9 05/16/16	80282JAD1	41000	41951.69	0.13%
MAPFRE SA	MAPSM 5.921 07/24/37	EG6617310	50000	41459.18	0.13%
FG Q04017	FG 4 10/01/41	3132GKDW3	38376	41374.04	0.13%
QWEST CORP	CTL 7.5 06/15/23	912920AB1	40000	41383.33	0.13%
GEORGIA-PACIFIC LLC	GP 8 01/15/24	373298CF3	30000	40852.78	0.13%
CGCMT 2007-C6 AM	CGCMT 0 12/10/49	17311QBM1	40000	40767.71	0.13%
US TREASURY N/B	T 1.75 05/15/22	912828SV3	40000	40663.58	0.13%
NOBLE ENERGY INC	NBL 6 03/01/41	655044AE5	35000	40582.12	0.13%
CSMC 2009-12R 15A1	CSMC 6 05/27/36	12642MBN9	37520	37820.46	0.12%
UNITED TECHNOLOGIES CORP	UTX 4.5 06/01/42	913017BT5	35000	37730.00	0.12%
FN 890149	FN 6.5 10/01/38	31410K5J9	33057	37629.28	0.12%
FHR 3864 AB	FHR 4 06/15/39	3137ABBK6	34453	37268.00	0.12%
FNR 2012-10 PC	FNR 4.5 11/25/41	3136A3ZC8	34376	36681.09	0.11%
FN AJ1472	FN 4 10/01/41	3138AST69	33626	36364.87	0.11%
BCAP 2009-RR4 3A1	BCAP 0 04/26/37	05531RAG2	36792	35338.40	0.11%
IPALCO ENTERPRISES INC	AES 5 05/01/18	462613AG5	35000	34795.83	0.11%
CGCMT 2007-C6 A4	CGCMT 5.69906 12/10/49	17311QBK5	30000	34607.82	0.11%
TELECOM ITALIA CAPITAL	TITIM 5.25 10/01/15	87927VAQ1	35000	34343.75	0.11%
FNR 2009-85 LC	FNR 4.5 10/25/49	31396Q7J2	30000	33715.64	0.10%
COMET 2004-B3 B3	COMET 0 01/18/22	14041NBL4	35000	33648.95	0.10%
FN 960128	FN 6 11/01/37	31414AD90	30016	33287.29	0.10%
EL PASO PIPELINE PART OP	EPB 5 10/01/21	28370TAE9	30000	32520.73	0.10%
FN AD0308	FN 5 03/01/35	31418MKW1	29637	32291.19	0.10%
FN 357632	FN 5.5 10/01/34	31376KHH2	29290	32291.76	0.10%
FNR 2012-21 PJ	FNR 4 03/25/41	3136A35Z0	29618	32082.55	0.10%
FG Q06531	FG 4 03/01/42	3132GRSU6	29841	32020.40	0.10%
STRU AM-2641 PA	STRU	BCCW3G4K3	30000	32034.38	0.10%
CA BAY AREA TOLL-S1 REV	BAYTRN 6.793 04/01/30	072024NT5	25000	31788.79	0.10%
FNR 2012-32 CY	FNR 3.5 04/25/42	3136A4U72	30000	31488.15	0.10%
FG C91293	FG 5 03/01/30	3128P7NJ8	27751	30050.49	0.09%
WESTERN POWER DISTR HLDG	PPL 7.25 12/15/17	92931DAD4	25000	30027.41	0.09%
FHR 3793 LV	FHR 4 11/15/23	3137A5EJ9	27539	29765.70	0.09%
HUMANA INC	HUM 6.3 08/01/18	444859AU6	25000	29602.75	0.09%
WFNMT 2012-A A	WFNMT 3.14 01/17/23	981464CW8	28000	29444.05	0.09%
SPAIN (KING OF) 4.7% 30/07/41 EUR	SPGB 4.7 07/30/41	EH9842699	30000	29273.44	0.09%
FN AE8388	FN 4.5 11/01/40	31419KKA2	26295	29107.79	0.09%
FNR 2010-56 BD	FNR 5 12/25/38	31398RK46	25000	27528.59	0.09%
GNR 2012-52 PM	GNR 3.5 12/20/39	38375CG79	24934	26991.30	0.08%
FN AK3774	FN 4 03/01/42	3138E8FQ0	24896	26930.96	0.08%
BSCMS 2006-PW13 AM	BSCMS 0 09/11/41	07388LAG5	25000	26264.23	0.08%
JPMCC 2007-CB20 AM	JPMCC 0 02/12/51	46631QAH5	25000	26259.89	0.08%
FN 993565	FN 4 04/01/24	31415YW21	24379	25993.47	0.08%
BSCMS 2005-PWR9 AAB	BSCMS 4.804 09/11/42	07387BAG8	24750	25857.17	0.08%
ROWAN COMPANIES INC	RDC 7.875 08/01/19	779382AK6	20000	24852.88	0.08%
CF INDUSTRIES INC	CF 7.125 05/01/20	12527GAB9	20000	24368.75	0.08%
GNR 2011-45 VE	GNR 4.5 04/20/22	38377Q2B2	22905	24319.37	0.08%
GROUPAMA 4.375% FRN 49 EUR	CCAMA VAR 49-15	EF0038143	50000	24121.89	0.08%
FN 995049	FN 5.5 02/01/38	31416BL63	21270	23423.50	0.07%
MARATHON PETROLEUM CORP	MPC 5.125 03/01/21	56585AAD4	20000	22500.81	0.07%
GECMC 2007-C1 A4	GECMC 5.543 12/10/49	36159XAE0	20000	21993.74	0.07%
QWEST CORP	CTL 7.25 09/15/25	912920AK1	20000	21986.29	0.07%
FHR 3923 PQ	FHR 4 09/15/40	3137AFM90	20000	21783.29	0.07%
FN 888367	FN 7 03/01/37	31410F6C4	17996	21146.84	0.07%
FHR 4017 MA	FHR 3 03/15/41	3137AMHK6	19864	21059.21	0.07%
COMM 2007-C9 AM	COMM 0 12/10/49	20047RAG8	20000	20704.15	0.06%
FN 773425	FN 5 06/01/34	31404NHA7	18965	20651.84	0.06%
WBCMT 2006-C29 AM	WBCMT 5.339 11/15/48	92978PAH2	20000	20251.23	0.06%
CSMC 2009-3R 28A1	CSMC 0 08/27/37	22943YUB3	20181	19467.69	0.06%
GERMANY (FED REP OF) 4.25% 04/07/39 07 EUR	DBR 4.25 07/04/39	EG1209048	10000	19391.74	0.06%
JUNIPER NETWORKS INC	JNPR 5.95 03/15/41	48203RAD6	15000	18016.43	0.06%
CVS CAREMARK CORP	CVS 5.75 05/15/41	126650BX7	15000	17912.68	0.06%
SDART 2010-2 C	SDART 3.89 07/17/17	80282GAE5	16000	16565.59	0.05%
GCCFC 2007-GG9 A4	GCCFC 5.444 03/10/39	20173QAE1	15000	16484.58	0.05%
LOWE'S COMPANIES INC	LOW 3.8 11/15/21	548661CV7	15000	16253.04	0.05%
COMM 2006-C7 AM	COMM 0 06/10/46	20047QAG0	15000	15415.96	0.05%
FNR 2011-34 VA	FNR 4 06/25/22	31397Q7B8	13718	14754.70	0.05%
FN 890101	FN 6 02/01/39	31410K3J1	12722	14207.89	0.04%
GNR 2009-13 ND	GNR 4.5 02/16/33	38374TMP6	11978	12786.59	0.04%
COMM 2007-C9 A4	COMM 0 12/10/49	20047RAE3	10000	11608.69	0.04%
TECK RESOURCES LIMITED	TCKBCN 6.25 07/15/41	878742AW5	10000	11393.30	0.04%
JPMCC 2007-LD11 A4	JPMCC 0 06/15/49	46631BAE5	10000	10885.54	0.03%
CD 2005-CD1 AM	CD 5.399746 07/15/44	12513EAJ3	10000	10669.12	0.03%
CGCMT 2006-C5 AM	CGCMT 5.462 10/15/49	17310MAG5	10000	10636.85	0.03%
ROWAN COMPANIES INC	RDC 4.875 06/01/22	779382AP5	10000	10161.24	0.03%
FREMF 2012-K501 C	FREMF 0 11/25/46	30290EAS4	10000	9596.26	0.03%
BOARDWALK PIPELINES LLC	BWP 5.75 09/15/19	096630AB4	5000	5714.24	0.02%
FORDO 2009-B A3	FORDO 2.79 08/15/13	34529EAC4	3262	3269.22	0.01%
RFMSI 2004-S9 1A6	RFMSI 5.5 12/25/34	76111XQJ5	1222	1226.43	0.00%

Disclosure

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.