0000315774-12-000115.txt : 20120508 0000315774-12-000115.hdr.sgml : 20120508 20120508142953 ACCESSION NUMBER: 0000315774-12-000115 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120508 DATE AS OF CHANGE: 20120508 EFFECTIVENESS DATE: 20120508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WRIGHT MANAGED INCOME TRUST CENTRAL INDEX KEY: 0000715165 IRS NUMBER: 042789493 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-03668 FILM NUMBER: 12820908 BUSINESS ADDRESS: STREET 1: 440 WHEELERS FARM RD. CITY: MILFORD STATE: CT ZIP: 06461 BUSINESS PHONE: 1-800-888-9471 MAIL ADDRESS: STREET 1: 440 WHEELERS FARM RD. CITY: MILFORD STATE: CT ZIP: 06461 FORMER COMPANY: FORMER CONFORMED NAME: WRIGHT MANAGED BOND TRUST DATE OF NAME CHANGE: 19910331 FORMER COMPANY: FORMER CONFORMED NAME: BOND FUND FOR BANK TRUST DEPARTMENTS BFBT FUND DATE OF NAME CHANGE: 19880218 0000715165 S000009581 Wright Total Return Bond Fund C000026173 Wright Total Return Bond Fund WTRBX 0000715165 S000009582 Wright Current Income Fund C000026174 Wright Current Income Fund WCIFX N-Q 1 dnq.htm dnq.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-03668

THE WRIGHT MANAGED INCOME TRUST
440 Wheelers Farms Road
Milford, Connecticut 06461


Christopher A. Madden
Three Canal Plaza, Suite 600
Portland, ME 04101
207-347-2000


Date of fiscal year end: December 31

Date of reporting period: January 1, 2012 – March 31, 2012


 
 
 
 

Item 1.  Schedule of Investments.

                 
Wright Total Return Bond Fund (WTRB)
            
Portfolio of Investments – As of March 31, 2012 (Unaudited)
          
 
 
Face Amount
  
Description
  
Coupon Rate
    
Maturity Date
    
Value
  

FIXED INCOME INVESTMENTS - 98.4%


ASSET-BACKED SECURITIES - 1.2%

$
146,961
  
Harley-Davidson Motorcycle Trust, Series 2009-1, Class A4
  
4.550
%
    
01/15/17
  
 $
148,472
  
 
195,000
  
PSE&G Transition Funding LLC, Series 2001-1, Class A7
  
6.750
%
    
06/15/16
  
 
216,424
  
 
Total Asset-Backed Securities (identified cost, $352,647)
  
$
364,896
  
 
COMMERCIAL MORTGAGE-BACKED SECURITIES - 7.7%

$
275,000
  
Citigroup Commercial Mortgage Trust, Series 2004-C2, Class A5
  
4.733
%
    
10/15/41
  
 $
294,756
  
 
322,213
  
Credit Suisse First Boston Mortgage Securities Corp., Series 2003-C3, Class A5
  
3.936
%
    
05/15/38
  
 
328,877
  
 
250,998
  
Credit Suisse First Boston Mortgage Securities Corp., Series 2005-C1, Class A3
  
4.813
%
    
02/15/38
  
 
258,983
  
 
435,000
  
JPMorgan Chase Commercial Mortgage Securities Corp., Series 2004-C3, Class A5
  
4.878
%
    
01/15/42
  
 
469,613
  
 
300,000
  
LB-UBS Commercial Mortgage Trust, Series 2006-C6, Class A4
  
5.372
%
    
09/15/39
  
 
340,869
  
 
315,000
  
Merrill Lynch Mortgage Trust, Series 2005-LC1, Class A4
  
5.291
%
(1)
  
01/12/44
  
 
351,526
  
 
310,000
  
Merrill Lynch/Countrywide Commercial Mortgage Trust, Series 2006-2, Class A4
  
5.898
%
(1)
  
06/12/46
  
 
354,818
  
 
Total Commercial Mortgage-Backed Securities (identified cost, $2,207,983)
  
$
2,399,442
  
 
RESIDENTIAL MORTGAGE-BACKED SECURITIES - 0.1%

$
49,369
  
Wells Fargo Mortgage Backed Securities Trust, Series 2004-K, Class 1A2
  
2.735
%
(1)
  
07/25/34
  
 $
49,228
  
 
Total Residential Mortgage-Backed Securities (identified cost, $41,543)
  
$
49,228
  
 
CORPORATE BONDS - 48.0%

 
AUTO MANUFACTURERS - 0.4%
$
110,000
  
Daimler Finance North America, LLC
  
6.500
%
    
11/15/13
  
 $
119,841
  
 
CAPITAL GOODS - 0.4%
$
110,000
  
PACCAR, Inc.
  
6.875
%
    
02/15/14
  
 $
122,374
  
 
COMMUNICATIONS EQUIPMENT - 1.0%
$
300,000
  
eBay, Inc.
  
3.250
%
    
10/15/20
  
 $
305,623
  
 
CONSUMER DURABLES & APPAREL - 0.4%
$
115,000
  
Hasbro, Inc.
  
6.125
%
    
05/15/14
  
 $
125,135
  
 
CONSUMER SERVICES - 0.2%
$
60,000
  
Brinker International, Inc.
  
5.750
%
    
06/01/14
  
 $
63,663
  
 
DIVERSIFIED FINANCIALS - 13.8%
$
135,000
  
American Express Credit Corp., Series C
  
7.300
%
    
08/20/13
  
 $
146,133
  
 
55,000
  
Ameriprise Financial, Inc.
  
5.650
%
    
11/15/15
  
 
62,518
  
 
135,000
  
Bank of America Corp., MTN
  
5.000
%
    
05/13/21
  
 
135,454
  
 
140,000
  
Bear Stearns Cos., LLC (The)
  
5.700
%
    
11/15/14
  
 
154,792
  
 
65,000
  
BlackRock, Inc.
  
3.500
%
    
12/10/14
  
 
69,644
  
 
55,000
  
Capital One Financial Corp.
  
7.375
%
    
05/23/14
  
 
60,914
  
 
260,000
  
Citigroup, Inc.
  
6.500
%
    
08/19/13
  
 
275,151
  
 
160,000
  
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands
  
2.125
%
    
10/13/15
  
 
161,216
  
 
130,000
  
Credit Suisse USA, Inc.
  
0.830
%
(1)
  
04/12/13
  
 
129,519
  
 
260,000
  
Eaton Vance Corp.
  
6.500
%
    
10/02/17
  
 
296,354
  
 
135,000
  
Equifax, Inc.
  
4.450
%
    
12/01/14
  
 
143,327
  
 
225,000
  
General Electric Capital Corp., MTN, Series A
  
6.750
%
    
03/15/32
  
 
269,606
  
 
100,000
  
Goldman Sachs Group, Inc. (The)
  
1.071
%
(1)
  
09/29/14
  
 
96,201
  
 
115,000
  
Goldman Sachs Group, Inc. (The)
  
6.150
%
    
04/01/18
  
 
124,198
  
 
110,000
  
JPMorgan Chase & Co.
  
6.300
%
    
04/23/19
  
 
127,291
  
 
125,000
  
Merrill Lynch & Co., Inc.
  
6.050
%
    
05/16/16
  
 
131,734
  
 
150,000
  
Moody's Corp.
  
5.500
%
    
09/01/20
  
 
157,261
  
 
150,000
  
Morgan Stanley
  
5.500
%
    
07/28/21
  
 
146,856
  
 
120,000
  
Nomura Holdings, Inc.
  
5.000
%
    
03/04/15
  
 
124,875
  
 
135,000
  
PNC Funding Corp.
  
4.250
%
    
09/21/15
  
 
147,528
  
 
55,000
  
SunTrust Banks, Inc.
  
6.000
%
    
09/11/17
  
 
61,876
  
  130,000  
TD Ameritrade Holding Corp.
  
4.150
 %     12/01/14    
138,967
  
   300,000  
Toyota Motor Credit Corp., MTN
  
3.300
 %      01/12/22    
306,466
  
   220,000  
US Bancorp, MTN
  
3.150
 %      03/04/15    
232,577
  
   280,000  
Wells Fargo & Co.
  
3.625
 %      04/15/15    
298,327
  
   280,000  
Westpac Banking Corp.
  
4.200
 %      02/27/15    
300,931
  
                           
 
ENERGY - 2.1%
$
205,000
  
Baker Hughes, Inc.
  
6.875
%
    
01/15/29
  
 $
271,492
  
 
70,000
  
Cimarex Energy Co.
  
7.125
%
    
05/01/17
  
 
72,450
  
 
50,000
  
Newfield Exploration Co.
  
6.625
%
    
04/15/16
  
 
51,375
  
 
50,000
  
ONEOK Partners LP
  
6.850
%
    
10/15/37
  
 
59,838
  
 
60,000
  
Oneok, Inc.
  
5.200
%
    
06/15/15
  
 
65,466
  
 
70,000
  
Peabody Energy Corp.
  
7.375
%
    
11/01/16
  
 
77,175
  
 
55,000
  
Valero Energy Corp.
  
9.375
%
    
03/15/19
  
 
72,138
  
 
FOOD, BEVERAGE & TOBACCO - 2.3%
$
60,000
  
Altria Group, Inc.
  
8.500
%
    
11/10/13
  
 $
67,070
  
 
55,000
  
Altria Group, Inc.
  
9.700
%
    
11/10/18
  
 
74,832
  
 
140,000
  
ConAgra Foods, Inc.
  
5.875
%
    
04/15/14
  
 
152,992
  
 
150,000
  
Corn Products International, Inc.
  
4.625
%
    
11/01/20
  
 
158,496
  
 
100,000
  
PepsiCo, Inc.
  
7.900
%
    
11/01/18
  
 
134,590
  
 
105,000
  
Philip Morris International, Inc.
  
6.875
%
    
03/17/14
  
 
117,787
  
 
HEALTH CARE EQUIPMENT & SERVICES - 2.7%
$
155,000
  
Cigna Corp.
  
2.750
%
    
11/15/16
  
 $
157,103
  
 
135,000
  
Hospira, Inc.
  
5.900
%
    
06/15/14
  
 
145,794
  
 
75,000
  
Laboratory Corp. of America Holdings
  
3.125
%
    
05/15/16
  
 
77,632
  
 
40,000
  
McKesson Corp.
  
6.500
%
    
02/15/14
  
 
44,010
  
 
100,000
  
Medtronic, Inc.
  
4.500
%
    
03/15/14
  
 
107,229
  
 
130,000
  
UnitedHealth Group, Inc.
  
6.000
%
    
02/15/18
  
 
157,217
  
 
145,000
  
WellPoint, Inc.
  
4.350
%
    
08/15/20
  
 
157,224
  
 
HOUSEHOLD & PERSONAL PRODUCTS - 0.6%
$
115,000
  
Avon Products, Inc.
  
5.625
%
    
03/01/14
  
 $
123,207
  
 
60,000
  
Estee Lauder Cos., Inc. (The)
  
6.000
%
    
05/15/37
  
 
74,840
  
 
INDUSTRIAL - 0.2%
$
70,000
  
Greif, Inc.
  
6.750
%
    
02/01/17
  
 $
75,600
  
 
INSURANCE - 4.6%
$
100,000
  
ACE INA Holdings, Inc.
  
5.875
%
    
06/15/14
  
 $
110,214
  
 
275,000
  
Loews Corp.
  
5.250
%
    
03/15/16
  
 
304,377
  
 
125,000
  
MetLife, Inc.
  
5.000
%
    
06/15/15
  
 
138,353
  
 
46,000
  
OneBeacon US Holdings, Inc.
  
5.875
%
    
05/15/13
  
 
47,353
  
 
255,000
  
PartnerRe Finance B, LLC
  
5.500
%
    
06/01/20
  
 
264,423
  
 
55,000
  
Principal Financial Group, Inc.
  
8.875
%
    
05/15/19
  
 
70,304
  
 
130,000
  
Principal Life Income Funding Trusts, MTN
  
0.703
%
(1)
  
11/08/13
  
 
129,580
  
 
90,000
  
Prudential Financial, Inc., MTN
  
4.500
%
    
11/15/20
  
 
95,656
  
 
50,000
  
Prudential Financial, Inc., MTN, Series D
  
7.375
%
    
06/15/19
  
 
61,895
  
 
200,000
  
Travelers Cos., Inc. (The)
  
5.500
%
    
12/01/15
  
 
226,986
  
 
MATERIALS - 1.4%
$
145,000
  
Airgas, Inc.
  
4.500
%
    
09/15/14
  
 $
155,402
  
 
120,000
  
Dow Chemical Co. (The)
  
7.375
%
    
03/01/23
  
 
144,361
  
 
100,000
  
Lubrizol Corp.
  
8.875
%
    
02/01/19
  
 
135,691
  
 
MEDIA - 2.4%
$
90,000
  
Comcast Cable Communications Holdings, Inc.
  
9.455
%
    
11/15/22
  
 $
130,714
  
 
150,000
  
DIRECTV Holdings, LLC / DIRECTV Financing Co, Inc.
  
5.000
%
    
03/01/21
  
 
162,864
  
 
95,000
  
McGraw-Hill Cos., Inc. (The)
  
5.900
%
    
11/15/17
  
 
111,295
  
 
50,000
  
Time Warner Cable, Inc.
  
8.250
%
    
04/01/19
  
 
64,034
  
 
115,000
  
Time Warner Cos., Inc.
  
6.950
%
    
01/15/28
  
 
139,434
  
 
120,000
  
Viacom, Inc.
  
4.375
%
    
09/15/14
  
 
129,454
  
 
MINING - 0.5%
$
80,000
  
Barrick Gold Financeco, LLC
  
6.125
%
    
09/15/13
  
 $
85,836
  
 
50,000
  
Rio Tinto Finance USA, Ltd.
  
8.950
%
    
05/01/14
  
 
57,992
  

MISCELLANEOUS MANUFACTURING - 0.2%
$
55,000
  
Tyco International Finance SA
  
8.500
%
    
01/15/19
  
 $
71,378
  
 
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.4%
$
115,000
  
Wyeth LLC
  
5.500
%
    
02/01/14
  
 $
125,143
  
 
PIPELINES - 0.9%
$
60,000
  
Spectra Energy Capital, LLC
  
5.650
%
    
03/01/20
  
 $
67,505
  
 
170,000
  
TransCanada PipeLines, Ltd.
  
6.500
%
    
08/15/18
  
 
210,031
  
 
RETAILING - 1.8%
$
55,000
  
AutoZone, Inc.
  
5.750
%
    
01/15/15
  
 $
60,974
  
 
135,000
  
Best Buy Co., Inc.
  
6.750
%
    
07/15/13
  
 
143,234
  
 
145,000
  
Kohl's Corp.
  
4.000
%
    
11/01/21
  
 
149,874
  
 
72,000
  
Ltd. Brands, Inc.
  
5.250
%
    
11/01/14
  
 
76,680
  
 
120,000
  
Safeway, Inc.
  
5.000
%
    
08/15/19
  
 
127,638
  
 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.7%
$
165,000
  
Applied Materials, Inc.
  
7.125
%
    
10/15/17
  
 $
205,665
  
 
SOFTWARE & SERVICES - 3.3%
$
140,000
  
Adobe Systems, Inc.
  
4.750
%
    
02/01/20
  
 $
152,452
  
 
140,000
  
Dun & Bradstreet Corp. (The)
  
6.000
%
    
04/01/13
  
 
146,814
  
 
145,000
  
Ingram Micro, Inc.
  
5.250
%
    
09/01/17
  
 
153,031
  
 
105,000
  
International Business Machines Corp.
  
7.625
%
    
10/15/18
  
 
140,252
  
 
245,000
  
Oracle Corp.
  
5.375
%
    
07/15/40
  
 
284,383
  
 
150,000
  
Symantec Corp.
  
4.200
%
    
09/15/20
  
 
153,285
  
 
TECHNOLOGY HARDWARE & EQUIPMENT - 1.0%
$
30,000
  
Dell, Inc.
  
5.625
%
    
04/15/14
  
 $
32,908
  
 
140,000
  
Harris Corp.
  
5.000
%
    
10/01/15
  
 
153,199
  
 
140,000
  
Pitney Bowes, Inc., MTN
  
5.250
%
    
01/15/37
  
 
140,006
  
 
TELECOMMUNICATIONS - 2.4%
$
155,000
  
BellSouth Corp.
  
6.000
%
    
11/15/34
  
 $
168,371
  
 
70,000
  
British Telecommunications PLC
  
9.625
%
    
12/15/30
  
 
103,260
  
 
105,000
  
Cellco Partnership / Verizon Wireless Capital, LLC
  
5.550
%
    
02/01/14
  
 
113,611
  
 
145,000
  
Telefonica Emisiones SAU
  
4.949
%
    
01/15/15
  
 
149,616
  
 
150,000
  
Verizon Global Funding Corp.
  
7.750
%
    
12/01/30
  
 
203,718
  
 
TRANSPORTATION - 0.5%
$
120,000
  
Burlington Northern Santa Fe, LLC
  
6.200
%
    
08/15/36
  
 $
143,621
  
 
UTILITIES - 3.8%
$
115,000
  
American Electric Power Co., Inc.
  
5.250
%
    
06/01/15
  
 $
125,528
  
 
110,000
  
Consolidated Edison Co. of New York, Inc.
  
7.125
%
    
12/01/18
  
 
142,612
  
 
90,000
  
Dominion Resources, Inc., Series E
  
6.300
%
    
03/15/33
  
 
106,805
  
 
115,000
  
Duke Energy Indiana, Inc.
  
5.000
%
    
09/15/13
  
 
121,331
  
 
80,000
  
Exelon Generation Co., LLC
  
5.200
%
    
10/01/19
  
 
88,933
  
 
115,000
  
NextEra Energy Capital Holdings, Inc., Series D
  
7.300
%
(1)
  
09/01/67
  
 
121,460
  
 
50,000
  
Pacific Gas & Electric Co.
  
8.250
%
    
10/15/18
  
 
66,276
  
 
138,000
  
PPL Energy Supply, LLC
  
6.300
%
    
07/15/13
  
 
146,634
  
 
60,000
  
Public Service Electric & Gas Co., MTN
  
5.300
%
    
05/01/18
  
 
71,095
  
 
125,000
  
Sempra Energy
  
6.500
%
    
06/01/16
  
 
147,898
  
 
55,000
  
TransAlta Corp.
  
4.750
%
    
01/15/15
  
 
58,714
  

Total Corporate Bonds (identified cost, $13,961,448)
  
$
14,972,062
  
 
U.S. GOVERNMENT INTERESTS - 41.4%
 
AGENCY MORTGAGE-BACKED SECURITIES - 26.0%
$
125,544
  
FHLMC Gold Pool #A32600
         5.500
%
    
05/01/35
  
 $
137,607
  
 
29,163
  
FHLMC Gold Pool #C01646
         6.000
%
    
09/01/33
  
 
32,623
  
 
21,192
  
FHLMC Gold Pool #C27663
         7.000
%
    
06/01/29
  
 
24,793
  
 
95,835
  
FHLMC Gold Pool #C47318
         7.000
%
    
09/01/29
  
 
114,156
  
 
145,742
  
FHLMC Gold Pool #C66878
         6.500
%
    
05/01/32
  
 
165,915
  
 
119,819
  
FHLMC Gold Pool #C91046
         6.500
%
    
05/01/27
  
 
134,100
  
 
19,353
  
FHLMC Gold Pool #D66753
         6.000
%
    
10/01/23
  
 
21,461
  
 
4,807
  
FHLMC Gold Pool #E00903
         7.000
%
    
10/01/15
  
 
5,190
  
 
154,418
  
FHLMC Gold Pool #G01035
         6.000
%
    
05/01/29
  
 
172,834
  
 
75,948
  
FHLMC Gold Pool #G02478
         5.500
%
    
12/01/36
  
 
82,795
  
 
62,301
  
FHLMC Gold Pool #H19018
         6.500
%
    
08/01/37
  
 
69,357
  
 
89,465
  
FHLMC Gold Pool #N30514
         5.500
%
    
11/01/28
  
 
96,748
  
 
251,684
  
FHLMC Gold Pool #P00024
         7.000
%
    
09/01/32
  
 
291,096
  
 
12,519
  
FHLMC Gold Pool #P50031
         7.000
%
    
08/01/18
  
 
13,093
  
 
43,981
  
FHLMC Gold Pool #P50064
         7.000
%
    
09/01/30
  
 
49,711
  
 
62,877
  
FHLMC Pool #1B1291
  
         2.500
%
(1)
  
11/01/33
  
 
66,939
  
 
182,542
  
FHLMC Pool #1G0233
  
         2.511
%
(1)
  
05/01/35
  
 
192,398
  
 
25,258
  
FHLMC Pool #781071
  
         5.231
%
(1)
  
11/01/33
  
 
27,137
  
 
22,051
  
FHLMC Pool #781804
  
         5.078
%
(1)
  
07/01/34
  
 
23,679
  
 
11,974
  
FHLMC Pool #781884
  
         5.180
%
(1)
  
08/01/34
  
 
12,839
  
 
35,391
  
FHLMC Pool #782862
  
         5.036
%
(1)
  
11/01/34
  
 
37,837
  
 
186,633
  
FHLMC, Series 1983, Class Z
         6.500
%
    
12/15/23
  
 
212,111
  
 
136,507
  
FHLMC, Series 2044, Class PE
         6.500
%
    
04/15/28
  
 
156,663
  
 
550,000
  
FHLMC, Series 2627, Class MW
         5.000
%
    
06/15/23
  
 
622,074
  
 
93,315
  
FNMA Pool #253057
  
         8.000
%
    
12/01/29
  
 
111,449
  
 
4,868
  
FNMA Pool #254845
  
         4.000
%
    
07/01/13
  
 
5,157
  
 
5,344
  
FNMA Pool #254863
  
         4.000
%
    
08/01/13
  
 
5,624
  
 
13,176
  
FNMA Pool #479477
  
         6.000
%
    
01/01/29
  
 
14,722
  
 
12,677
  
FNMA Pool #489357
  
         6.500
%
    
03/01/29
  
 
14,504
  
 
13,916
  
FNMA Pool #535332
  
         8.500
%
    
04/01/30
  
 
17,071
  
 
27,274
  
FNMA Pool #545782
  
         7.000
%
    
07/01/32
  
 
32,047
  
 
12,853
  
FNMA Pool #597396
  
         6.500
%
    
09/01/31
  
 
14,641
  
 
75,169
  
FNMA Pool #621284
  
         6.500
%
    
12/01/31
  
 
85,627
  
 
30,156
  
FNMA Pool #725866
  
         4.500
%
    
09/01/34
  
 
32,131
  
 
79,273
  
FNMA Pool #738630
  
         5.500
%
    
11/01/33
  
 
87,130
  
 
243,937
  
FNMA Pool #745001
  
         6.500
%
    
09/01/35
  
 
276,579
  
 
136,994
  
FNMA Pool #745467
  
         5.568
%
(1)
  
04/01/36
  
 
146,606
  
 
242,730
  
FNMA Pool #745755
  
         5.000
%
    
12/01/35
  
 
262,738
  
 
99,951
  
FNMA Pool #747529
  
         4.500
%
    
10/01/33
  
 
106,575
  
 
472,511
  
FNMA Pool #781893
  
         4.500
%
    
11/01/31
  
 
509,214
  
 
31,898
  
FNMA Pool #809888
  
         4.500
%
    
03/01/35
  
 
33,977
  
 
579,316
  
FNMA Pool #888366
  
         7.000
%
    
04/01/37
  
 
672,541
  
 
512,899
  
FNMA Pool #888367
  
         7.000
%
    
03/01/37
  
 
595,437
  
 
262,580
  
FNMA Pool #888417
  
         6.500
%
    
01/01/36
  
 
300,425
  
 
44,016
  
FNMA Pool #906455
  
         6.034
%
(1)
  
01/01/37
  
 
47,713
  
 
24,741
  
GNMA I Pool #374892
  
         7.000
%
    
02/15/24
  
 
28,507
  
 
24,312
  
GNMA I Pool #376400
  
         6.500
%
    
02/15/24
  
 
27,977
  
 
27,108
  
GNMA I Pool #379982
  
         7.000
%
    
02/15/24
  
 
31,233
  
 
138,180
  
GNMA I Pool #393347
  
         7.500
%
    
02/15/27
  
 
163,473
  
 
52,673
  
GNMA I Pool #410081
  
         8.000
%
    
08/15/25
  
 
62,843
  
 
32,392
  
GNMA I Pool #427199
  
         7.000
%
    
12/15/27
  
 
38,049
  
 
1,137
  
GNMA I Pool #436214
  
         6.500
%
    
02/15/13
  
 
1,256
  
 
35,743
  
GNMA I Pool #448490
  
         7.500
%
    
03/15/27
  
 
39,281
  
 
44,607
  
GNMA I Pool #458762
  
         6.500
%
    
01/15/28
  
 
52,085
  
 
33,934
  
GNMA I Pool #460726
  
         6.500
%
    
12/15/27
  
 
39,601
  
 
14,588
  
GNMA I Pool #488924
  
         6.500
%
    
11/15/28
  
 
17,033
  
 
12,145
  
GNMA I Pool #510706
  
         8.000
%
    
11/15/29
  
 
14,707
  
 
27,455
  
GNMA I Pool #581536
  
         5.500
%
    
06/15/33
  
 
30,866
  
 
84,704
  
GNMA II Pool #002630
  
         6.500
%
    
08/20/28
  
 
97,354
  
 
4,323
  
GNMA II Pool #002909
  
         8.000
%
    
04/20/30
  
 
5,439
  
 
10,654
  
GNMA II Pool #002972
  
         7.500
%
    
09/20/30
  
 
12,774
  
 
3,961
  
GNMA II Pool #002973
  
         8.000
%
    
09/20/30
  
 
4,807
  
 
38,705
  
GNMA II Pool #003095
  
         6.500
%
    
06/20/31
  
 
44,606
  
 
266,159
  
GNMA II Pool #004841
  
         8.000
%
    
08/20/31
  
 
319,226
  
 
884,937
  
GNMA, Series 2010-44, Class NK
         4.000
%
    
10/20/37
  
 
941,662
  
 
U.S. TREASURIES - 15.4%
$
170,000
  
U.S. Treasury Bond
  
6.125
%
    
11/15/27
  
 $
240,258
  
 
40,000
  
U.S. Treasury Note
  
1.375
%
    
04/15/12
  
 
40,022
  
 
895,000
  
U.S. Treasury Note
  
3.875
%
    
02/15/13
  
 
923,563
  
 
200,000
  
U.S. Treasury Note
  
2.375
%
    
02/28/15
  
 
210,656
  
 
395,000
  
U.S. Treasury Note
  
1.875
%
    
06/30/15
  
 
411,201
  
 
595,000
  
U.S. Treasury Note
  
3.250
%
    
06/30/16
  
 
654,035
  
 
525,000
  
U.S. Treasury Note
  
4.500
%
    
05/15/17
  
 
614,332
  
 
400,000
  
U.S. Treasury Note
  
2.750
%
    
05/31/17
  
 
433,125
  
 
350,000
  
U.S. Treasury Note
  
3.125
%
    
05/15/19
  
 
385,465
  
 
825,000
  
U.S. Treasury Strip
  
3.140 – 4.845
%
(2)
  
11/15/30
  
 
444,148
  
 
1,095,000
  
U.S. Treasury Strip
  
3.250 – 5.045
%
(2)
  
08/15/39
  
 
423,347
  
 
Total U.S. Government Interests (identified cost, $12,201,426)
  
$
12,887,995
  

TOTAL FIXED INCOME INVESTMENTS (identified cost, $28,765,047) — 98.4%
  
$
30,673,623
  

SHORT-TERM INVESTMENTS - 2.4%

$
749,851
  
Fidelity Government Money Market Fund, 0.01%(1)
              
 $
749,851
  
 
TOTAL SHORT-TERM INVESTMENTS (identified cost, $749,851) — 2.4%
  
$
749,851
  

TOTAL INVESTMENTS (identified cost, $29,514,898) — 100.8%
  
$
31,423,474
  

LIABILITIES, IN EXCESS OF OTHER ASSETS — (0.8)%
    
(262,050
)

NET ASSETS — 100.0%
  
$
31,161,424
  

FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
GNMA — Government National Mortgage Association
LLC — Limited Liability Company
LP — Limited Partnership
MTN — Medium Term Note
PLC — Public Limited Company
(1)
Variable rate security. Rate presented is as of March 31, 2012.
(2)
Rate presented is yield to maturity.


The Fund has a three-tier fair value hierarchy. The basis of the tiers is dependent upon the various “inputs” used to determine the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:
 
Level 1 – quoted prices in active markets for identical assets
 
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
 
Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 
 
The following is a summary of the inputs used to value the Fund’s investments as of March 31, 2012.
 

Asset Description
Quoted Prices in Active Markets
for Identical Assets (Level 1)
  
Significant Other Observable Inputs
(Level 2)
  
Significant Unobservable Inputs
(Level 3)
  
Total

Asset-Backed Securities
  
$
-
    
$
364,896
    
$
-
    
$
364,896
  
Commercial Mortgage-Backed Securities
    
-
      
2,399,442
      
-
      
2,399,442
  
Residential Mortgage-Backed Securities
    
-
      
49,228
      
-
      
49,228
  
Corporate Bonds
    
-
      
14,972,062
      
-
      
14,792,062
  
U.S. Government Interests
    
-
      
12,887,995
      
-
      
12,887,995
  
Short-Term Investments
    
-
      
749,851
      
-
      
749,851
  
Total Investments
  
$
-
    
$
31,423,474
    
$
-
    
$
31,423,474
  
 
 
The level classification by major category of investments is the same as the category presentation in the Fund’s Portfolio of Investments.
 
There were no significant transfers between Level 1 and Level 2 for the period ended March 31, 2012.
 
THE PORTFOLIO OF INVESTMENTS SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND NOTES TO FINANCIAL STATEMENTS WHICH ARE INCLUDED IN THE FUND’S AUDITED ANNUAL REPORT OR SEMI-ANNUAL REPORT. THESE REPORTS INCLUDE ADDITIONAL INFORMATION ABOUT THE FUND’S SECURITY VALUATION POLICIES AND ABOUT CERTAIN SECURITY TYPES INVESTED BY THE FUND.
 
 
 
 

                 
Wright Current Income Fund (WCIF)
            
Portfolio of Investments – As of March 31, 2012 (Unaudited)
          

 
Face Amount
  
Description
    
 Coupon Rate
         Maturity Date  
 
Value
  
                             
FIXED INCOME INVESTMENTS - 98.7%
          
                             
AGENCY MORTGAGE-BACKED SECURITIES - 98.7%
$
20,154
  
FHLMC Gold Pool #C00548
      7.000
%
    
08/01/27
  
 $
23,543
  
 
60,842
  
FHLMC Gold Pool #C00778
      7.000
%
    
06/01/29
  
 
71,180
  
 
131,039
  
FHLMC Gold Pool #C01375
      6.500
%
    
07/01/32
  
 
151,510
  
 
249,672
  
FHLMC Gold Pool #C91034
      6.000
%
    
06/01/27
  
 
275,976
  
 
50,025
  
FHLMC Gold Pool #D81642
      7.500
%
    
08/01/27
  
 
59,487
  
 
69,147
  
FHLMC Gold Pool #D82572
      7.000
%
    
09/01/27
  
 
80,777
  
 
20,277
  
FHLMC Gold Pool #E00678
      6.500
%
    
06/01/14
  
 
21,366
  
 
20,398
  
FHLMC Gold Pool #E00721
      6.500
%
    
07/01/14
  
 
21,493
  
 
32,494
  
FHLMC Gold Pool #E81704
      8.500
%
    
05/01/15
  
 
35,161
  
 
710,433
  
FHLMC Gold Pool #G02791
      5.500
%
    
04/01/37
  
 
773,370
  
 
216,724
  
FHLMC Gold Pool #G02809
      6.500
%
    
05/01/36
  
 
244,802
  
 
171,952
  
FHLMC Gold Pool #G08012
      6.500
%
    
09/01/34
  
 
194,946
  
 
1,266,535
  
FHLMC Gold Pool #G08081
      6.000
%
    
09/01/35
  
 
1,404,123
  
 
910,912
  
FHLMC Gold Pool #G08378
      6.000
%
    
10/01/39
  
 
1,005,385
  
 
293,103
  
FHLMC Gold Pool #H09054
      4.500
%
    
03/01/37
  
 
307,672
  
 
132,424
  
FHLMC Gold Pool #H09098
      6.500
%
    
10/01/37
  
 
147,463
  
 
251,684
  
FHLMC Gold Pool #P00024
      7.000
%
    
09/01/32
  
 
291,096
  
 
223,201
  
FHLMC Gold Pool #P50019
      7.000
%
    
07/01/24
  
 
250,395
  
 
89,267
  
FHLMC, Series 2176, Class OJ
      7.000
%
    
08/15/29
  
 
103,168
  
 
63,045
  
FHLMC, Series 2201, Class C
      8.000
%
    
11/15/29
  
 
75,269
  
 
331,235
  
FHLMC, Series 2218, Class ZB
      6.000
%
    
03/15/30
  
 
373,318
  
 
137,346
  
FHLMC, Series 2259, Class ZM
      7.000
%
    
10/15/30
  
 
162,508
  
 
100,000
  
FHLMC, Series 2576, Class HC
      5.500
%
    
03/15/33
  
 
112,248
  
 
785,000
  
FHLMC, Series 3004, Class HK
      5.500
%
    
07/15/35
  
 
797,082
  
 
986,412
  
FHLMC, Series 3033, Class WY
      5.500
%
    
09/15/35
  
 
1,110,048
  
 
200,000
  
FHLMC, Series 3072, Class DL
      6.000
%
    
02/15/35
  
 
239,406
  
 
135,000
  
FHLMC, Series 3217, Class PD
      6.000
%
    
11/15/34
  
 
143,834
  
 
565,000
  
FHLMC, Series 3605, Class NC
      5.500
%
    
06/15/37
  
 
669,402
  
 
1,000,000
  
FHLMC, Series 3662, Class PJ
      5.000
%
    
04/15/40
  
 
1,128,286
  
 
183,842
  
FHLMC-GNMA, Series 15, Class L
      7.000
%
    
07/25/23
  
 
209,795
  
 
66,443
  
FHLMC-GNMA, Series 23, Class KZ
      6.500
%
    
11/25/23
  
 
75,877
  
 
116,834
  
FHLMC-GNMA, Series 4, Class D
      8.000
%
    
12/25/22
  
 
134,452
  
 
503,478
  
FNMA Pool #252034
  
      7.000
%
    
09/01/28
  
 
594,395
  
 
1,292,194
  
FNMA Pool #256182
  
      6.000
%
    
03/01/36
  
 
1,415,728
  
 
252,917
  
FNMA Pool #256972
  
      6.000
%
    
11/01/37
  
 
277,412
  
 
956,013
  
FNMA Pool #257138
  
      5.000
%
    
03/01/38
  
 
1,023,912
  
 
33,104
  
FNMA Pool #535131
  
      6.000
%
    
03/01/29
  
 
36,988
  
 
141,584
  
FNMA Pool #594207
  
      6.500
%
    
02/01/31
  
 
165,138
  
 
109,176
  
FNMA Pool #673315
  
      5.500
%
    
11/01/32
  
 
119,996
  
 
577,740
  
FNMA Pool #721255
  
      5.500
%
    
07/01/33
  
 
634,996
  
 
58,746
  
FNMA Pool #733750
  
      6.310
%
    
10/01/32
  
 
66,433
  
 
884,705
  
FNMA Pool #735415
  
      6.500
%
    
12/01/32
  
 
1,007,792
  
 
276,519
  
FNMA Pool #735861
  
      6.500
%
    
09/01/33
  
 
316,373
  
 
488,805
  
FNMA Pool #745001
  
      6.500
%
    
09/01/35
  
 
554,214
  
 
916,742
  
FNMA Pool #745318
  
      5.000
%
    
12/01/34
  
 
987,327
  
 
102,175
  
FNMA Pool #745630
  
      5.500
%
    
01/01/29
  
 
112,428
  
 
127,064
  
FNMA Pool #801357
  
      5.500
%
    
08/01/34
  
 
139,656
  
 
155,316
  
FNMA Pool #813839
  
      6.000
%
    
11/01/34
  
 
173,538
  
 
918,253
  
FNMA Pool #851655
  
      6.000
%
    
12/01/35
  
 
1,021,534
  
 
122,738
  
FNMA Pool #871394
  
      7.000
%
    
04/01/21
  
 
134,079
  
 
380,167
  
FNMA Pool #879922
  
      5.000
%
    
11/01/35
  
 
409,188
  
 
294,674
  
FNMA Pool #888211
  
      7.000
%
    
08/01/36
  
 
349,332
  
 
115,567
  
FNMA Pool #888367
  
      7.000
%
    
03/01/37
    
134,165
  
 
238,610
  
FNMA Pool #888534
  
      5.000
%
    
08/01/37
  
 
255,557
  
 
1,388,589
  
FNMA Pool #889307
  
      5.000
%
    
07/01/37
  
 
1,503,700
  
 
341,664
  
FNMA Pool #889649
  
      6.500
%
    
08/01/37
  
 
372,522
  
 
106,133
  
FNMA Pool #954957
  
      6.000
%
    
10/01/37
  
 
116,412
  
 
1,902,665
  
FNMA Pool #995149
  
      6.500
%
    
10/01/38
  
 
2,137,649
  
 
246,729
  
FNMA Pool #995346
  
      6.500
%
    
09/01/36
  
 
279,745
  
 
446,482
  
FNMA Pool #995656
  
      7.000
%
    
06/01/33
  
 
517,529
  
 
1,080,825
  
FNMA Pool #AB3223
  
      4.000
%
    
07/01/41
  
 
1,161,906
  
 
265,541
  
FNMA Pool #AD0756
  
      6.500
%
    
11/01/28
  
 
297,548
  
 
535,359
  
FNMA Pool #AL0886
  
      6.500
%
    
10/01/38
  
 
609,842
  
 
432,363
  
FNMA Whole Loan, Series 2004-W11 1A1
      6.000
%
    
05/25/44
  
 
484,608
  
 
188,214
  
FNMA, Series 2001-52, Class YZ
      6.500
%
    
10/25/31
  
 
219,773
  
 
125,000
  
FNMA, Series 2002-15, Class QH
      6.000
%
    
04/25/32
  
 
144,631
  
 
793,526
  
FNMA, Series 2003-32, Class BZ
      6.000
%
    
11/25/32
  
 
906,699
  
 
166,000
  
FNMA, Series 2004-25, Class LC
      5.500
%
    
04/25/34
  
 
188,918
  
 
256,000
  
FNMA, Series 2004-25, Class UC
      5.500
%
    
04/25/34
  
 
291,343
  
 
339,858
  
FNMA, Series 2004-90, Class D
      4.000
%
    
11/25/34
  
 
361,890
  
 
205,000
  
FNMA, Series 2005-106, Class UK
      5.500
%
    
12/25/35
  
 
215,397
  
 
304,000
  
FNMA, Series 2007-76, Class PE
      6.000
%
    
08/25/37
  
 
353,006
  
 
800,000
  
FNMA, Series 2007-81, Class GE
      6.000
%
    
08/25/37
  
 
932,696
  
 
170,000
  
FNMA, Series 2008-46, Class JN
      5.500
%
    
06/25/38
  
 
190,757
  
 
129,772
  
FNMA, Series 2008-86, Class GD
      6.000
%
    
03/25/36
  
 
142,522
  
 
390,000
  
FNMA, Series 2009-96, Class DB
      4.000
%
    
11/25/29
  
 
420,673
  
 
362,300
  
FNMA, Series G92-43, Class Z
      7.500
%
    
07/25/22
  
 
422,975
  
 
235,901
  
FNMA, Series G93-5, Class Z
      6.500
%
    
02/25/23
  
 
266,421
  
 
808
  
GNMA I Pool #177784
  
      8.000
%
    
10/15/16
  
 
813
  
 
7,163
  
GNMA I Pool #192357
  
      8.000
%
    
04/15/17
  
 
7,200
  
 
1,583
  
GNMA I Pool #194287
  
      9.500
%
    
03/15/17
  
 
1,593
  
 
623
  
GNMA I Pool #196063
  
      8.500
%
    
03/15/17
  
 
690
  
 
838
  
GNMA I Pool #212601
  
      8.500
%
    
06/15/17
  
 
843
  
 
1,154
  
GNMA I Pool #220917
  
      8.500
%
    
04/15/17
  
 
1,217
  
 
2,404
  
GNMA I Pool #223348
  
    10.000
%
    
08/15/18
  
 
2,420
  
 
1,944
  
GNMA I Pool #230223
  
      9.500
%
    
04/15/18
  
 
1,956
  
 
2,814
  
GNMA I Pool #260999
  
      9.500
%
    
09/15/18
  
 
2,971
  
 
4,130
  
GNMA I Pool #263439
  
    10.000
%
    
02/15/19
  
 
4,157
  
 
1,127
  
GNMA I Pool #265267
  
      9.500
%
    
08/15/20
  
 
1,135
  
 
596
  
GNMA I Pool #266983
  
    10.000
%
    
02/15/19
  
 
600
  
 
624
  
GNMA I Pool #286556
  
      9.000
%
    
03/15/20
  
 
627
  
 
743
  
GNMA I Pool #301366
  
      8.500
%
    
06/15/21
  
 
778
  
 
3,703
  
GNMA I Pool #302933
  
      8.500
%
    
06/15/21
  
 
4,382
  
 
8,933
  
GNMA I Pool #308792
  
      9.000
%
    
07/15/21
  
 
9,427
  
 
1,555
  
GNMA I Pool #314222
  
      8.500
%
    
04/15/22
  
 
1,576
  
 
1,454
  
GNMA I Pool #315187
  
      8.000
%
    
06/15/22
  
 
1,461
  
 
19,872
  
GNMA I Pool #319441
  
      8.500
%
    
04/15/22
  
 
20,275
  
 
5,005
  
GNMA I Pool #325165
  
      8.000
%
    
06/15/22
  
 
5,882
  
 
6,196
  
GNMA I Pool #335950
  
      8.000
%
    
10/15/22
  
 
6,228
  
 
93,878
  
GNMA I Pool #346987
  
      7.000
%
    
12/15/23
  
 
107,826
  
 
39,570
  
GNMA I Pool #352001
  
      6.500
%
    
12/15/23
  
 
45,350
  
 
11,440
  
GNMA I Pool #352110
  
      7.000
%
    
08/15/23
  
 
13,139
  
 
42,251
  
GNMA I Pool #368238
  
      7.000
%
    
12/15/23
  
 
48,529
  
 
22,811
  
GNMA I Pool #372379
  
      8.000
%
    
10/15/26
  
 
24,208
  
 
38,749
  
GNMA I Pool #399726
  
      7.490
%
    
05/15/25
  
 
44,970
  
 
93,035
  
GNMA I Pool #399788
  
      7.490
%
    
09/15/25
  
 
107,972
  
 
26,450
  
GNMA I Pool #399958
  
      7.490
%
    
02/15/27
  
 
30,710
  
 
24,987
  
GNMA I Pool #399964
  
      7.490
%
    
04/15/26
    
29,013
  
 
42,013
  
GNMA I Pool #410215
  
      7.500
%
    
12/15/25
  
 
49,531
  
 
3,563
  
GNMA I Pool #414736
  
      7.500
%
    
11/15/25
  
 
4,210
  
 
13,576
  
GNMA I Pool #420707
  
      7.000
%
    
02/15/26
  
 
15,849
  
 
12,159
  
GNMA I Pool #421829
  
      7.500
%
    
04/15/26
  
 
14,335
  
 
3,413
  
GNMA I Pool #431036
  
      8.000
%
    
07/15/26
  
 
3,595
  
 
13,312
  
GNMA I Pool #431612
  
      8.000
%
    
11/15/26
  
 
13,666
  
 
4,373
  
GNMA I Pool #442190
  
      8.000
%
    
12/15/26
  
 
5,055
  
 
39,996
  
GNMA I Pool #448970
  
      8.000
%
    
08/15/27
  
 
48,168
  
 
7,869
  
GNMA I Pool #449176
  
      6.500
%
    
07/15/28
  
 
9,188
  
 
20,529
  
GNMA I Pool #462623
  
      6.500
%
    
03/15/28
  
 
24,002
  
 
83,555
  
GNMA I Pool #471369
  
      5.500
%
    
05/15/33
  
 
93,962
  
 
226,736
  
GNMA I Pool #487108
  
      6.000
%
    
04/15/29
  
 
258,780
  
 
99,033
  
GNMA I Pool #489377
  
      6.375
%
    
03/15/29
  
 
113,029
  
 
331,999
  
GNMA I Pool #503405
  
      6.500
%
    
04/15/29
  
 
387,650
  
 
129,674
  
GNMA I Pool #509930
  
      5.500
%
    
06/15/29
  
 
145,703
  
 
223,608
  
GNMA I Pool #509965
  
      5.500
%
    
06/15/29
  
 
251,528
  
 
14,272
  
GNMA I Pool #538314
  
      7.000
%
    
02/15/32
  
 
16,859
  
 
51,793
  
GNMA I Pool #595606
  
      6.000
%
    
11/15/32
  
 
58,854
  
 
9,196
  
GNMA I Pool #602377
  
      4.500
%
    
06/15/18
  
 
10,029
  
 
16,761
  
GNMA I Pool #603377
  
      4.500
%
    
01/15/18
  
 
17,781
  
 
151,241
  
GNMA I Pool #615403
  
      4.500
%
    
08/15/33
  
 
166,100
  
 
83,850
  
GNMA I Pool #616829
  
      5.500
%
    
01/15/25
  
 
94,268
  
 
96,127
  
GNMA I Pool #623190
  
      6.000
%
    
12/15/23
  
 
109,081
  
 
346,070
  
GNMA I Pool #624600
  
      6.150
%
    
01/15/34
  
 
393,248
  
 
68,475
  
GNMA I Pool #640940
  
      5.500
%
    
05/15/35
  
 
77,282
  
 
29,332
  
GNMA I Pool #658267
  
      6.500
%
    
02/15/22
  
 
32,514
  
 
109,252
  
GNMA I Pool #677162
  
      5.500
%
    
08/15/23
  
 
119,741
  
 
831,142
  
GNMA I Pool #711286
  
      6.500
%
    
10/15/32
  
 
970,463
  
 
31,052
  
GNMA I Pool #780429
  
      7.500
%
    
09/15/26
  
 
36,321
  
 
175,127
  
GNMA I Pool #780492
  
      7.000
%
    
09/15/24
  
 
206,645
  
 
88,736
  
GNMA I Pool #780685
  
      6.500
%
    
12/15/27
  
 
101,888
  
 
106,053
  
GNMA I Pool #780977
  
      7.500
%
    
12/15/28
  
 
127,522
  
 
262,658
  
GNMA I Pool #781120
  
      7.000
%
    
12/15/29
  
 
309,703
  
 
1,226,139
  
GNMA I Pool #781804
  
      6.000
%
    
09/15/34
  
 
1,389,972
  
 
20,640
  
GNMA II Pool #000723
  
      7.500
%
    
01/20/23
  
 
23,959
  
 
1,680
  
GNMA II Pool #001596
  
      9.000
%
    
04/20/21
  
 
2,001
  
 
23,241
  
GNMA II Pool #002268
  
      7.500
%
    
08/20/26
  
 
27,492
  
 
64,873
  
GNMA II Pool #002442
  
      6.500
%
    
06/20/27
  
 
74,591
  
 
3,572
  
GNMA II Pool #002855
  
      8.500
%
    
12/20/29
  
 
4,377
  
 
104,070
  
GNMA II Pool #003284
  
      5.500
%
    
09/20/32
  
 
116,560
  
 
66,371
  
GNMA II Pool #003401
  
      4.500
%
    
06/20/33
  
 
72,861
  
 
397,888
  
GNMA II Pool #003403
  
      5.500
%
    
06/20/33
  
 
445,518
  
 
102,982
  
GNMA II Pool #003554
  
      4.500
%
    
05/20/34
  
 
112,858
  
 
272,599
  
GNMA II Pool #003689
  
      4.500
%
    
03/20/35
  
 
298,743
  
 
671,323
  
GNMA II Pool #003931
  
      6.000
%
    
12/20/36
  
 
758,156
  
 
37,934
  
GNMA II Pool #004149
  
      7.500
%
    
05/20/38
  
 
45,568
  
 
1,058,643
  
GNMA II Pool #004260
  
      6.000
%
    
10/20/38
  
 
1,163,099
  
 
148,334
  
GNMA II Pool #004284
  
      5.500
%
    
11/20/38
  
 
161,455
  
 
588,647
  
GNMA II Pool #004291
  
      6.000
%
    
11/20/38
  
 
662,946
  
 
362,657
  
GNMA II Pool #004308
  
      5.000
%
    
12/20/38
  
 
390,656
  
 
358,429
  
GNMA II Pool #004412
  
      5.000
%
    
04/20/39
  
 
389,015
  
 
665,053
  
GNMA II Pool #004561
  
      6.000
%
    
10/20/39
  
 
750,659
  
 
606,672
  
GNMA II Pool #004751
  
      7.000
%
    
12/20/38
  
 
726,775
  
 
163,507
  
GNMA II Pool #004752
  
      7.500
%
    
11/20/38
  
 
196,326
  
 
472,292
  
GNMA II Pool #004753
  
      8.000
%
    
08/20/30
  
 
569,263
  
 
482,822
  
GNMA II Pool #004805
  
      6.500
%
    
09/20/40
  
 
554,477
  
 
162,079
  
GNMA II Pool #004808
  
      8.000
%
    
01/20/31
    
196,417
  
 
893,220
  
GNMA II Pool #004838
  
      6.500
%
    
10/20/40
  
 
1,026,059
  
 
1,168,210
  
GNMA II Pool #004848
  
      3.500
%
    
11/20/40
  
 
1,202,273
  
 
329,899
  
GNMA II Pool #004993
  
      7.000
%
    
03/20/41
  
 
394,618
  
 
491,062
  
GNMA II Pool #005257
  
      4.000
%
    
12/20/41
  
 
519,026
  
 
916,015
  
GNMA II Pool #005294
  
      7.000
%
    
11/20/40
  
 
1,055,568
  
 
94,221
  
GNMA II Pool #575787
  
      5.760
%
    
03/20/33
  
 
105,470
  
 
101,668
  
GNMA II Pool #608120
  
      6.310
%
    
01/20/33
  
 
115,009
  
 
288,104
  
GNMA II Pool #610116
  
      5.760
%
    
04/20/33
  
 
322,638
  
 
67,865
  
GNMA II Pool #610143
  
      5.760
%
    
06/20/33
  
 
75,968
  
 
229,135
  
GNMA II Pool #612121
  
      5.760
%
    
07/20/33
  
 
256,493
  
 
218,876
  
GNMA II Pool #648541
  
      6.000
%
    
10/20/35
  
 
246,957
  
 
508,087
  
GNMA II Pool #719213
  
      6.500
%
    
02/20/33
  
 
585,476
  
 
746,430
  
GNMA, Series 1998-21, Class ZB
      6.500
%
    
09/20/28
  
 
873,285
  
 
170,671
  
GNMA, Series 1999-25, Class TB
      7.500
%
    
07/16/29
  
 
203,853
  
 
641,419
  
GNMA, Series 1999-4, Class ZB
      6.000
%
    
02/20/29
  
 
725,101
  
 
247,346
  
GNMA, Series 2000-14, Class PD
      7.000
%
    
02/16/30
  
 
291,399
  
 
192,597
  
GNMA, Series 2001-4, Class PM
      6.500
%
    
03/20/31
  
 
223,613
  
 
242,516
  
GNMA, Series 2002-22, Class GF
      6.500
%
    
03/20/32
  
 
278,623
  
 
166,578
  
GNMA, Series 2002-40, Class UK
      6.500
%
    
06/20/32
  
 
195,790
  
 
130,685
  
GNMA, Series 2002-45, Class QE
      6.500
%
    
06/20/32
  
 
149,675
  
 
215,916
  
GNMA, Series 2002-6, Class GE
      6.500
%
    
01/20/32
  
 
242,621
  
 
108,381
  
GNMA, Series 2002-7, Class PG
      6.500
%
    
01/20/32
  
 
127,410
  
 
214,000
  
GNMA, Series 2003-103, Class PC
      5.500
%
    
11/20/33
  
 
248,299
  
 
154,000
  
GNMA, Series 2003-46, Class HA
      4.500
%
    
06/20/33
  
 
170,690
  
 
179,000
  
GNMA, Series 2003-46, Class MA
      5.000
%
    
05/20/33
  
 
205,977
  
 
300,000
  
GNMA, Series 2003-46, Class ND
      5.000
%
    
06/20/33
  
 
334,342
  
 
575,000
  
GNMA, Series 2003-57, Class C
      4.500
%
    
04/20/33
  
 
642,453
  
 
117,000
  
GNMA, Series 2004-16, Class GB
      5.500
%
    
06/20/33
  
 
131,508
  
 
125,000
  
GNMA, Series 2004-63, Class AG
      6.000
%
    
07/20/32
  
 
147,900
  
 
294,248
  
GNMA, Series 2005-17, Class GE
      5.000
%
    
02/20/35
  
 
323,767
  
 
100,000
  
GNMA, Series 2005-93, Class BH
      5.500
%
    
06/20/35
  
 
116,053
  
 
239,000
  
GNMA, Series 2006-17, Class TW
      6.000
%
    
04/20/36
  
 
282,967
  
 
120,000
  
GNMA, Series 2007-18, Class B
      5.500
%
    
05/20/35
  
 
137,250
  
 
120,000
  
GNMA, Series 2007-70, Class PE
      5.500
%
    
11/20/37
  
 
131,970
  
 
300,000
  
GNMA, Series 2008-35, Class EH
      5.500
%
    
03/20/38
  
 
353,914
  
 
157,000
  
GNMA, Series 2009-47, Class LT
      5.000
%
    
06/20/39
  
 
173,368
  
 
592,668
  
GNMA, Series 2009-57, Class VB
      5.000
%
    
06/16/39
  
 
682,528
  
 
2,000,000
  
GNMA, Series 2010-116, Class PB
      5.000
%
    
06/16/40
  
 
2,388,417
  
 
313,844
  
Vendee Mortgage Trust, Series 1996-1, Class 1Z
      6.750
%
    
02/15/26
  
 
364,666
  
 
256,177
  
Vendee Mortgage Trust, Series 1998-1, Class 2E
      7.000
%
    
03/15/28
  
 
299,669
  
 
Total Agency Mortgage-Backed Securities (identified cost, $60,733,075)
  
$
63,464,686
  

TOTAL FIXED INCOME INVESTMENTS (identified cost, $60,733,075) — 98.7%
  
$
63,464,686
  

SHORT-TERM INVESTMENTS - 1.2%

 
775,722
  
Fidelity Government Money Market Fund, 0.01%(1)
              
 
775,722
  
 
TOTAL SHORT-TERM INVESTMENTS (identified cost, $775,722) — 1.2%
  
$
775,722
  

TOTAL INVESTMENTS (identified cost, $61,508,797) — 99.9%
  
$
64,240,408
  

OTHER ASSETS, IN EXCESS OF LIABILITIES — 0.1%
    
65,096
  

NET ASSETS — 100.0%
  
$
64,305,504
  

FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
GNMA — Government National Mortgage Association
(1)
Variable rate security. Rate presented is as of March 31, 2012.

* 
Cost for federal income tax purposes is substantially the same as for financial statement purposes and net unrealized appreciation consists of:
 
Gross Unrealized Appreciation
  
$
2,798,626
  
Gross Unrealized Depreciation
    
(67,015
)
Net Unrealized Appreciation
  
$
2,731,611
  

 
The Fund has a three-tier fair value hierarchy. The basis of the tiers is dependent upon the various “inputs” used to determine the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:
 
Level 1 – quoted prices in active markets for identical assets
 
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
 
Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 

 
The following is a summary of the inputs used to value the Fund’s investments as of March 31, 2012.
 

Asset Description
Quoted Prices in Active Markets for Identical Assets (Level 1)
  
Significant Other Observable Inputs
(Level 2)
  
Significant Unobservable Inputs
(Level 3)
  
Total

Agency Mortgage-Backed Securities
  
$
-
    
$
63,464,686
    
$
-
    
$
63,464,686
  
Short-Term Investments
    
-
      
775,722
      
-
      
775,722
  
Total Investments
  
$
-
    
$
64,240,408
    
$
-
    
$
64,240,408
  

 
The level classification by major category of investments is the same as the category presentation in the Fund’s Portfolio of Investments.
 
There were no significant transfers between Level 1 and Level 2 for the period ended March 31, 2012.
 
THE PORTFOLIO OF INVESTMENTS SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND NOTES TO FINANCIAL STATEMENTS WHICH ARE INCLUDED IN THE FUND’S AUDITED ANNUAL REPORT OR SEMI-ANNUAL REPORT. THESE REPORTS INCLUDE ADDITIONAL INFORMATION ABOUT THE FUND’S SECURITY VALUATION POLICIES AND ABOUT CERTAIN SECURITY TYPES INVESTED BY THE FUND.
 

 
 
 

Item 2.  Controls and Procedures.

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reporting within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
 

 
 (b) There have been no significant changes in the registrant’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 3.  Exhibits

Certification of Principal Executive Officer and Principal Financial Officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17CFR 270.30a-2(a)) is attached hereto as Exhibit 99Cert.


 
 
 
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


The Wright Managed Income Trust (On behalf of Wright Current Income Fund and Wright Total Return Bond Fund)


       
 
By:
/s/ Peter M. Donovan
  
   
Peter M. Donovan
  
   
President
  
       
 
Date:
May 7, 2012
  
       


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


       
 
By:
/s/ Peter M. Donovan
  
   
Peter M. Donovan
  
   
President
  
       
 
Date:
May 7, 2012
  
       
       
 
By:
/s/ Michael J. McKeen
  
   
Michael J. McKeen
  
   
Treasurer
  
       
 
Date:
May 8, 2012
  
       

 
 EX-99.CERT 2 dex99cert.htm dex99cert.htm
Form N-Q Item 3


I, Peter M. Donovan, certify that:

1.      I have reviewed this report on Form N-Q of The Wright Managed Income Trust (on behalf of Wright Current Income Fund and Wright Total Return Bond Fund),

2.      Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.      Based on my knowledge, the schedules of investments  included in this report, fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.      The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 ) for the registrant and have:

(a)      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)      Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)      Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d)      Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.       The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b)     Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.


             
 
Date:
May 7, 2012
  
By:
/s/ Peter M. Donovan
  
         
Peter M. Donovan
  
         
President
  
             


 
 
 

Form N-Q Item 3


I, Michael J. McKeen, certify that:

1.      I have reviewed this report on Form N-Q of The Wright Managed Income Trust (on behalf of Wright Current Income Fund and Wright Total Return Bond Fund),

2.      Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.      Based on my knowledge, the schedules of investments  included in this report, fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.      The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 ) for the registrant and have:

(a)      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)      Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)      Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d)      Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.        The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b)     Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.


             
 
Date:
May 8, 2012
  
By:
/s/ Michael J. McKeen
  
         
Michael J. McKeen
  
         
Treasurer