1 | ||||
2 | ||||
6 | ||||
Back Cover |
American Beacon Funds | April 30, 2011 |
Best Regards, |
||||
![]() |
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Gene L. Needles, Jr. President American Beacon Funds |
1
2
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional
Class(1,8) |
15.16 | % | 14.42 | % | 1.73 | % | 5.61 | % | ||||||||
Y Class (1,2,8) |
15.13 | % | 14.27 | % | 1.69 | % | 5.59 | % | ||||||||
Investor Class(1,8). |
14.95 | % | 13.98 | % | 1.43 | % | 5.31 | % | ||||||||
Advisor Class(1,3,8) |
14.85 | % | 13.81 | % | 1.23 | % | 5.17 | % | ||||||||
Retirement Class
(1,4,8) |
14.74 | % | 13.50 | % | 1.11 | % | 5.11 | % | ||||||||
A Class with sales
charge (1,5,8) |
8.33 | % | 7.41 | % | .23 | % | 4.68 | % | ||||||||
A Class without
sales charge
(1,5,8) |
14.91 | % | 13.94 | % | 1.42 | % | 5.30 | % | ||||||||
C Class with sales
charge (1,6,8) |
13.39 | % | 12.23 | % | 1.30 | % | 5.24 | % | ||||||||
C Class without
sales charge
(1,6,8) |
14.39 | % | 13.23 | % | 1.30 | % | 5.24 | % | ||||||||
AMR Class(1,8) |
15.27 | % | 14.65 | % | 1.99 | % | 5.88 | % | ||||||||
Lipper Large-Cap
Value Funds Index
(7) |
16.50 | % | 14.98 | % | 1.87 | % | 3.02 | % | ||||||||
Russell 1000
Value Index (7) |
17.29 | % | 15.24 | % | 1.40 | % | 4.31 | % |
* | Not annualized | |
1. | Please note that the recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future. Performance shown is historical and may not be indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. | |
2. | Fund performance for the five-year and ten-year periods represents the total returns achieved by the Institutional Class from 4/30/01 up to 8/3/09, the inception date of the Y Class, and the returns of the Y Class since its inception. Expenses of the Y Class are higher than those of the Institutional Class. As a result, total returns shown may be higher than they would have been had the Y Class been in existence since 4/30/01. | |
3. | Fund performance for the ten-year period represents the total returns achieved by the Investor Class from 4/30/01 up to 6/1/05, the inception date of the Advisor Class, and the returns of the Advisor Class since its inception. Expenses of the Advisor Class are higher than those of the Investor Class. Therefore, total returns shown may be higher than they would have been had the Advisor Class been in existence since 4/30/01. A portion of the fees charged to the Advisor Class of the Fund was waived in 2005. Performance prior to waiving fees was lower than the actual returns shown for 2005. | |
4. | Fund performance for the five-year and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 through 5/31/05 and the Advisor Class from 6/1/05 up to 5/1/09, the inception date of the Retirement Class, and the returns of the Retirement Class since its inception. Expenses of the Retirement Class are higher than those of the Advisor and Investor Classes. As a result, total returns shown may be higher than they would have been had the Retirement Class been in existence since 4/30/01. | |
5. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 through 5/17/10, the inception date of the A Class, and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the A Class been in existence since 4/30/01. A Class shares have a maximum sales charge of 5.75%. | |
6. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 through 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the C Class been in existence since 4/30/01. C Class has a maximum contingent deferred sales charge of 1.00% for shares redeemed within one year of the date of purchase. | |
7. | The Russell 1000 Value Index is an unmanaged index of those stocks in the Russell 1000 Index with lower price-to-book ratios and lower forecasted growth values. Russell 1000® Value Index and Russell 1000 Index are registered trademarks of the Frank Russell Company. The Lipper Large-Cap Value Funds Index tracks the results of the 30 largest mutual funds in the Lipper Large-Cap Value Funds category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
8. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, Investor, Advisor, Retirement, A, C, and AMR Class shares was 0.60%, 0.71%, 0.97% 1.11%, 1.38%, 1.07%, 1.88%, and 0.35% respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that are |
3
% of | ||||
Net Assets | ||||
JPMorgan Chase & Co.
|
3.4 | % | ||
ConocoPhillips
|
3.1 | % | ||
Wells Fargo & Co.
|
2.8 | % | ||
Bank of America Corp.
|
2.7 | % | ||
Vodafone Group plc.
|
2.3 | % | ||
Hewlett-Packard Co.
|
2.3 | % | ||
Pfizer, Inc.
|
2.3 | % | ||
Microsoft Corp.
|
1.9 | % | ||
International Business Machines Corp.
|
1.8 | % | ||
PNC Financial Services Group, Inc.
|
1.8 | % |
% of Equities | ||||
Financials
|
25.5 | % | ||
Information Technology
|
12.3 | % | ||
Energy
|
11.9 | % | ||
Health Care
|
10.8 | % | ||
Industrials
|
10.3 | % | ||
Consumer Discretionary
|
8.5 | % | ||
Consumer Staples
|
8.2 | % | ||
Telecommunication Services
|
4.6 | % | ||
Utilities
|
4.3 | % | ||
Materials
|
3.6 | % |
4
Beginning | Expenses Paid | |||||||||||
Account Value | Ending Account | During Period* | ||||||||||
11/1/10 | Value 4/30/11 | 11/1/10-4/30/11 | ||||||||||
Institutional Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,151.58 | $ | 3.07 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,021.94 | $ | 2.89 | ||||||
Y Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,151.32 | $ | 3.66 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,021.39 | $ | 3.44 | ||||||
Investor Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,149.53 | $ | 5.03 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,020.12 | $ | 4.73 | ||||||
Advisor Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,148.49 | $ | 5.73 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,019.46 | $ | 5.38 | ||||||
Retirement Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,147.43 | $ | 7.12 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,018.16 | $ | 6.70 | ||||||
AMR Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,152.71 | $ | 1.74 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,023.18 | $ | 1.63 | ||||||
A Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,149.11 | $ | 5.71 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,019.48 | $ | 5.37 | ||||||
C Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,143.90 | $ | 9.64 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,015.82 | $ | 9.06 |
* | Expenses are equal to the Funds annualized expense ratios for the six-month period of 0.58%, 0.69%, 0.94%, 1.07%, 1.34%, 0.33%, 1.07% and 1.81% for the Institutional, Y, Investor, Advisor, Retirement, AMR, A and C Classes respectively, multiplied by the average account value over the period, multiplied by the number derived by dividing the number of days in the most recent fiscal half-year (181) by days in the year (365) to reflect the half year period. | |
** | 5% return before expenses. |
5
Shares | Value | |||||||
($000) | ||||||||
COMMON STOCK 96.22% |
||||||||
CONSUMER DISCRETIONARY 7.80% |
||||||||
Auto Components 0.68% |
||||||||
Johnson Controls, Inc. |
802,425 | 32,900 | ||||||
Magna International, Inc. |
616,200 | 31,580 | ||||||
64,480 | ||||||||
Automobiles 0.63% |
||||||||
General Motors Co.A |
830,423 | 26,648 | ||||||
Toyota Motor Corp., ADRB |
414,600 | 33,036 | ||||||
59,684 | ||||||||
Hotels, Restaurants & Leisure 1.19% |
||||||||
Carnival Corp. |
961,000 | 36,585 | ||||||
McDonalds Corp. |
549,481 | 43,030 | ||||||
Wyndham Worldwide Corp. |
970,580 | 33,592 | ||||||
113,207 | ||||||||
Household Durables 0.11% |
||||||||
Pulte Group, Inc. |
229,660 | 1,867 | ||||||
Stanley Black & Decker, Inc. |
116,714 | 8,479 | ||||||
10,346 | ||||||||
Leisure Equipment & Products 0.06% |
||||||||
Hasbro, Inc. |
122,607 | 5,743 | ||||||
Media 1.60% |
||||||||
CBS Corp. |
1,451,800 | 36,614 | ||||||
Comcast Corp. |
1,736,200 | 42,624 | ||||||
Omnicom Group, Inc. |
204,227 | 10,046 | ||||||
The Interpublic Group of Cos Inc. |
1,075,500 | 12,637 | ||||||
The Walt Disney Co. |
290,325 | 12,513 | ||||||
Time Warner Cable, Inc. |
394,600 | 30,830 | ||||||
Viacom, Inc., Class B |
133,050 | 6,807 | ||||||
152,071 | ||||||||
Multiline Retail 1.03% |
||||||||
JC Penney Co., Inc. |
1,640,600 | 63,080 | ||||||
Kohls Corp. |
62,032 | 3,270 | ||||||
Target Corp. |
646,000 | 31,719 | ||||||
98,069 | ||||||||
Specialty Retail 2.50% |
||||||||
Abercrombie & Fitch Co. |
493,080 | 34,910 | ||||||
Advance Auto Parts, Inc. |
69,046 | 4,520 | ||||||
Best Buy Co, Inc. |
984,100 | 30,724 | ||||||
Home Depot, Inc. |
946,267 | 35,144 | ||||||
RadioShack Corp. |
1,028,100 | 16,254 | ||||||
Staples, Inc. |
171,687 | 3,629 | ||||||
The Gap, Inc. |
4,485,700 | 104,248 | ||||||
The Sherwin-Williams Co. |
100,666 | 8,284 | ||||||
237,713 | ||||||||
Total Consumer Discretionary |
741,313 | |||||||
CONSUMER STAPLES 7.92% |
||||||||
Beverages 2.00% |
||||||||
Diageo plc, ADRB |
1,153,016 | 93,821 | ||||||
PepsiCo, Inc. |
1,398,590 | 96,349 | ||||||
190,170 | ||||||||
Food & Drug Retailing 2.20% |
||||||||
CVS Caremark Corp. |
2,569,163 | 93,106 | ||||||
Safeway, Inc. |
1,083,000 | 26,328 | ||||||
Sysco Corp. |
436,740 | 12,626 | ||||||
Walgreen Co. |
42,503 | 1,816 | ||||||
Wal-Mart Stores, Inc. |
1,360,760 | 74,815 | ||||||
208,691 | ||||||||
Food Products 0.62% |
||||||||
General Mills, Inc. |
352,465 | 13,598 | ||||||
Kellogg Co. |
125,169 | 7,168 | ||||||
Kraft Foods, Inc. |
679,900 | 22,832 | ||||||
Nestle S.A., ADRB |
187,082 | 11,637 | ||||||
The JM Smucker Co. |
52,957 | 3,975 | ||||||
59,210 | ||||||||
Household Products 0.20% |
||||||||
Kimberly-Clark Corp. |
212,800 | 14,058 | ||||||
The Procter & Gamble Co. |
81,579 | 5,294 | ||||||
19,352 | ||||||||
Personal Products 0.02% |
||||||||
Avon Products, Inc. |
70,780 | 2,080 | ||||||
Tobacco 2.88% |
||||||||
Altria Group, Inc. |
1,699,722 | 45,621 | ||||||
Imperial Tobacco Group plc, ADRB |
1,238,300 | 87,795 | ||||||
Philip Morris International, Inc. |
1,935,741 | 134,417 | ||||||
Reynolds American, Inc. |
138,295 | 5,132 | ||||||
272,965 | ||||||||
Total Consumer Staples |
752,468 | |||||||
ENERGY 11.54% |
||||||||
Energy Equipment & Services 0.65% |
||||||||
Cobalt International Energy, Inc.A |
1,245,500 | 17,437 | ||||||
Transocean Ltd. |
613,471 | 44,630 | ||||||
62,067 | ||||||||
Oil & Gas 10.89% |
||||||||
Apache Corp. |
111,641 | 14,890 | ||||||
BP plc, ADRB |
2,489,400 | 114,861 | ||||||
Chevron Corp. |
1,083,557 | 118,584 | ||||||
ConocoPhillips |
3,775,796 | 298,024 | ||||||
EOG Resources, Inc. |
69,786 | 7,880 | ||||||
Exxon Mobil Corp. |
1,071,046 | 94,252 | ||||||
Hess Corp. |
121,919 | 10,480 | ||||||
Marathon Oil Corp. |
124,600 | 6,733 | ||||||
Occidental Petroleum Corp. |
952,658 | 108,879 | ||||||
Royal Dutch Shell plc, ADRB |
1,551,700 | 121,591 | ||||||
Spectra Energy Corp. |
3,465,800 | 100,647 | ||||||
Total S.A., ADRB |
583,400 | 37,472 | ||||||
1,034,293 | ||||||||
Total Energy |
1,096,360 | |||||||
FINANCIALS 24.65% |
||||||||
Banks 8.65% |
||||||||
Bank of America Corp. |
20,655,212 | 253,646 | ||||||
Fifth Third Bancorp |
1,790,100 | 23,755 | ||||||
First Horizon National Corp. |
1,261,300 | 13,811 | ||||||
KeyCorp. |
2,137,574 | 18,533 | ||||||
PNC Financial Services Group, Inc. |
2,682,463 | 167,225 | ||||||
SunTrust Banks, Inc. |
1,522,530 | 42,920 | ||||||
The Bank of New York Mellon Corp. |
794,677 | 23,014 | ||||||
Wells Fargo & Co. |
9,147,231 | 266,275 | ||||||
Zions Bancorporation |
515,200 | 12,597 | ||||||
821,776 | ||||||||
6
Shares | Value | |||||||
($000) | ||||||||
Diversified Financials 9.22% |
||||||||
American Express Co. |
1,890,900 | 92,805 | ||||||
BlackRock, Inc. |
16,953 | 3,322 | ||||||
Capital One Financial Corp. |
1,731,600 | 94,770 | ||||||
Citigroup, Inc. |
27,078,768 | 124,292 | ||||||
JPMorgan Chase & Co. |
7,022,754 | 320,448 | ||||||
Mastercard, Inc. |
58,724 | 16,201 | ||||||
Morgan Stanley |
2,410,100 | 63,024 | ||||||
SLM Corp. |
2,741,100 | 45,475 | ||||||
State Street Corp. |
1,017,934 | 47,385 | ||||||
The Goldman Sachs Group Inc. |
411,527 | 62,145 | ||||||
The Western Union Co. |
275,774 | 5,860 | ||||||
875,727 | ||||||||
Insurance 6.00% |
||||||||
ACE Ltd. |
694,766 | 46,723 | ||||||
AON Corp. |
187,366 | 9,775 | ||||||
Chubb Corp. |
100,990 | 6,584 | ||||||
Genworth Financial, Inc. |
3,181,900 | 38,787 | ||||||
Hartford Financial Services Group, Inc. |
1,887,650 | 54,685 | ||||||
Lincoln National Corp. |
1,224,600 | 38,244 | ||||||
MetLife, Inc. |
2,716,310 | 127,096 | ||||||
Prudential Financial, Inc. |
571,788 | 36,263 | ||||||
The Allstate Corp. |
2,661,800 | 90,075 | ||||||
The Travelers Cos., Inc. |
627,379 | 39,701 | ||||||
XL Group plc |
3,378,900 | 82,513 | ||||||
570,446 | ||||||||
Real Estate 0.78% |
||||||||
Annaly Capital Management, Inc.C |
2,768,500 | 49,390 | ||||||
Chimera Investment Corp.C |
6,091,800 | 24,672 | ||||||
74,062 | ||||||||
Total Financials |
2,342,011 | |||||||
HEALTH CARE 10.48% |
||||||||
Biotechnology 0.46% |
||||||||
Amgen, Inc. |
771,000 | 43,831 | ||||||
Health Care Equipment & Supplies 2.07% |
||||||||
Baxter International, Inc. |
1,409,400 | 80,196 | ||||||
Becton Dickinson and Co. |
105,635 | 9,078 | ||||||
Covidien plc |
361,000 | 20,104 | ||||||
Medtronic, Inc. |
1,769,159 | 73,862 | ||||||
St Jude Medical, Inc. |
159,486 | 8,523 | ||||||
Thermo Fisher Scientific, Inc. |
74,200 | 4,451 | ||||||
196,214 | ||||||||
Health Care Providers & Services 0.57% |
||||||||
Quest Diagnostics, Inc. |
86,792 | 4,893 | ||||||
WellPoint, Inc. |
636,400 | 48,869 | ||||||
53,762 | ||||||||
Pharmaceuticals 7.38% |
||||||||
Abbott Laboratories |
342,129 | 17,804 | ||||||
Bristol-Myers Squibb Co. |
1,589,000 | 44,651 | ||||||
Eli Lilly & Co. |
1,583,500 | 58,605 | ||||||
GlaxoSmithKline plc, ADRB |
89,853 | 3,923 | ||||||
Johnson & Johnson |
2,399,391 | 157,688 | ||||||
Merck & Co, Inc. |
3,774,145 | 135,681 | ||||||
Novartis AG, ADRB |
998,900 | 59,105 | ||||||
Pfizer, Inc. |
10,470,027 | 219,452 | ||||||
Roche Holding AG, ADRB |
113,511 | 4,601 | ||||||
701,510 | ||||||||
Total Health Care |
995,317 | |||||||
INDUSTRIALS 9.92% |
||||||||
Aerospace & Defense 3.38% |
||||||||
Huntington Ingalls Industries, Inc.A |
143,504 | 5,740 | ||||||
Lockheed Martin Corp. |
1,539,056 | 121,971 | ||||||
Northrop Grumman Corp. |
861,027 | 54,770 | ||||||
Raytheon Co. |
1,506,500 | 73,141 | ||||||
The Boeing Co. |
526,100 | 41,972 | ||||||
United Technologies Corp. |
249,455 | 22,346 | ||||||
319,940 | ||||||||
Air Freight & Couriers 0.38% |
||||||||
FedEx Corp. |
379,900 | 36,345 | ||||||
Commercial Services & Supplies 0.08% |
||||||||
Dun & Bradstreet Corp. |
64,481 | 5,299 | ||||||
RR Donnelley & Sons Co. |
110,793 | 2,090 | ||||||
7,389 | ||||||||
Construction & Engineering 0.02% |
||||||||
Fluor Corp. |
32,232 | 2,254 | ||||||
Electrical Equipment 0.51% |
||||||||
TE Connectivity Ltd. |
1,357,500 | 48,666 | ||||||
Industrial Conglomerates 3.12% |
||||||||
3M Co. |
717,874 | 69,785 | ||||||
General Electric Co. |
5,315,000 | 108,691 | ||||||
Honeywell International, Inc. |
1,507,408 | 92,299 | ||||||
Tyco International Ltd. |
526,900 | 25,681 | ||||||
296,456 | ||||||||
Machinery 2.38% |
||||||||
Cummins, Inc. |
184,900 | 22,221 | ||||||
Danaher Corp. |
180,307 | 9,960 | ||||||
Eaton Corp. |
119,554 | 6,400 | ||||||
Illinois Tool Works, Inc. |
775,600 | 45,303 | ||||||
ITT Corp. |
1,151,300 | 66,534 | ||||||
PACCAR, Inc. |
1,427,630 | 75,821 | ||||||
226,239 | ||||||||
Road & Rail 0.05% |
||||||||
Canadian National Railway Co. |
65,158 | 5,045 | ||||||
Total Industrials |
942,334 | |||||||
INFORMATION TECHNOLOGY 11.78% |
||||||||
Communications Equipment 0.46% |
||||||||
Cisco Systems, Inc. |
2,475,984 | 43,478 | ||||||
Computers & Peripherals 4.74% |
||||||||
Apple, Inc. |
156,070 | 54,348 | ||||||
Hewlett-Packard Co. |
5,464,029 | 220,583 | ||||||
International Business Machines Corp. |
1,024,276 | 174,721 | ||||||
449,652 | ||||||||
Electronic Equipment & Instruments 0.24% |
||||||||
Avnet, Inc. |
636,200 | 23,107 | ||||||
IT Consulting & Services 0.24% |
||||||||
Accenture plc |
405,328 | 23,156 | ||||||
Office Electronics 0.29% |
||||||||
Xerox Corp. |
2,773,000 | 27,980 | ||||||
Semiconductor Equipment & Products 2.79% |
||||||||
Applied Materials, Inc. |
1,727,100 | 27,098 | ||||||
ASML Holding N.V. |
426,650 | 17,817 | ||||||
Intel Corp. |
6,380,497 | 147,964 |
7
Shares | Value | |||||||
($000) | ||||||||
Micron Technology, Inc. |
4,058,500 | 45,820 | ||||||
Texas Instruments, Inc. |
748,600 | 26,598 | ||||||
265,297 | ||||||||
Software 3.02% |
||||||||
CA, Inc. |
3,040,403 | 74,764 | ||||||
Microsoft Corp. |
6,830,000 | 177,716 | ||||||
Oracle Corp. |
953,334 | 34,368 | ||||||
286,848 | ||||||||
Total Information Technology |
1,119,518 | |||||||
MATERIALS 3.47% |
||||||||
Chemicals 1.90% |
||||||||
Air Products & Chemicals, Inc. |
413,388 | 39,487 | ||||||
Celanese Corp. |
435,000 | 21,715 | ||||||
EI du Pont de Nemours & Co. |
888,800 | 50,474 | ||||||
PPG Industries, Inc. |
272,779 | 25,824 | ||||||
The Dow Chemical Co. |
1,057,200 | 43,335 | ||||||
180,835 | ||||||||
Metals & Mining 0.94% |
||||||||
Cliffs Natural Resources, Inc. |
658,100 | 61,677 | ||||||
Newmont Mining Corp. |
479,400 | 28,098 | ||||||
89,775 | ||||||||
Paper & Forest Products 0.63% |
||||||||
International Paper Co. |
1,923,600 | 59,401 | ||||||
Total Materials |
330,011 | |||||||
TELECOMMUNICATION SERVICES 4.47% |
||||||||
Diversified Telecommunication Services 2.13% |
||||||||
AT&T, Inc. |
4,830,959 | 150,339 | ||||||
Nokia OYJ, ADRB |
2,651,000 | 24,469 | ||||||
Verizon Communications, Inc. |
728,986 | 27,541 | ||||||
202,349 | ||||||||
Wireless Telecommunication Services 2.34% |
||||||||
Vodafone Group plc, ADRB |
7,622,754 | 221,975 | ||||||
Total Telecommunication Services |
424,324 | |||||||
UTILITIES 4.19% |
||||||||
CenterPoint Energy, Inc. |
2,967,300 | 55,192 | ||||||
Dominion Resources, Inc. |
1,627,780 | 75,562 | ||||||
Edison International |
1,128,500 | 44,316 | ||||||
Entergy Corp. |
428,400 | 29,868 | ||||||
Exelon Corp. |
1,975,200 | 83,254 | ||||||
PG&E Corp. |
208,754 | 9,619 | ||||||
PPL Corp. |
1,087,415 | 29,828 | ||||||
Public Service Enterprise Group, Inc. |
2,202,146 | 70,843 | ||||||
Total Utilities |
398,482 | |||||||
Total Common Stock (Cost $8,251,659) |
9,142,138 | |||||||
PREFERRED STOCK 0.47% |
||||||||
CONSUMER DISCRETIONARY 0.46% |
||||||||
General Motors Co. |
878,825 | 43,774 | ||||||
UTILITIES 0.01% |
||||||||
PPL Corp. |
18,398 | 1,043 | ||||||
Total Preferred Stock (Cost $45,491) |
44,817 | |||||||
Shares | ||||||||
SHORT-TERM INVESTMENTS 2.95% |
||||||||
American Beacon U.S. Government Money
Market Select Fund D |
50,000,000 | 50,000 | ||||||
JPMorgan U.S. Government Money Market Fund |
229,883,483 | 229,883 | ||||||
Total Short-Term Investments (Cost $279,883) |
279,883 | |||||||
TOTAL INVESTMENTS 99.64% (Cost $8,577,033) |
9,466,838 | |||||||
OTHER ASSETS, NET OF LIABILITIES 0.36% |
33,792 | |||||||
TOTAL NET ASSETS 100.00% |
$ | 9,500,630 | ||||||
A | Non-income producing security. | |
B | ADR American Depositary Receipt | |
C | REIT | |
D | The Fund is affiliated by having the same investment advisor. |
8
Unrealized | ||||||||||||||||
Futures Contracts | Number of | Appreciation/ | ||||||||||||||
(dollars in thousands) | Contracts | Expiration Date | Value | (Depreciation) | ||||||||||||
S&P 500 Mini E Index Future |
4,421 | June, 2011 | 300,562 | 15,605 | ||||||||||||
300,562 | 15,605 | |||||||||||||||
9
Assets: |
||||
Investments in unaffiliated securities, at value A |
$ | 9,416,838 | ||
Investments in affiliated securities, at value B |
50,000 | |||
Cash |
14 | |||
Deposit with brokers for futures contracts |
19,606 | |||
Receivable for investments sold |
13,258 | |||
Dividends and interest receivable |
9,669 | |||
Receivable for fund shares sold |
15,310 | |||
Receivable for tax reclaims |
583 | |||
Receivable for variation margin on open futures contracts |
1,044 | |||
Prepaid expenses |
166 | |||
Total assets |
9,526,488 | |||
Liabilities: |
||||
Payable for investments purchased |
14,066 | |||
Payable for fund shares redeemed |
5,426 | |||
Management and investment advisory fees payable (Note 2) |
2,145 | |||
Administrative service and service fees payable (Note 2) |
3,299 | |||
Professional fees payable |
119 | |||
Other liabilities |
803 | |||
Total liabilities |
25,858 | |||
Net assets |
$ | 9,500,630 | ||
Analysis of Net Assets: |
||||
Paid-in-capital |
10,000,798 | |||
Undistributed net investment income |
48,705 | |||
Accumulated net realized loss |
(1,454,283 | ) | ||
Unrealized appreciation of investments, futures contracts, and foreign currency |
905,410 | |||
Net assets |
$ | 9,500,630 | ||
Shares outstanding (no par value): |
||||
Institutional Class |
188,217,198 | |||
Y Class |
901,826 | |||
Investor Class |
236,968,809 | |||
Advisor Class |
7,721,381 | |||
Retirement Class |
29,548 | |||
AMR Class |
29,295,510 | |||
A Class |
156,817 | |||
C Class |
31,724 | |||
Net asset value, offering and redemption price per share: |
||||
Institutional Class |
$ | 21.09 | ||
Y Class |
$ | 21.03 | ||
Investor Class |
$ | 20.02 | ||
Advisor Class |
$ | 19.86 | ||
Retirement Class |
$ | 19.79 | ||
AMR Class |
$ | 20.86 | ||
A Class (net asset value and redemption price) |
$ | 20.07 | ||
A Class (offering price) |
$ | 21.29 | ||
C Class |
$ | 20.06 | ||
A Cost of investments in unaffiliated securities |
$ | 8,527,033 | ||
B Cost of investments in affiliated securities |
$ | 50,000 |
10
Investment Income: |
||||
Dividend income from unaffiliated securities (net of foreign taxes)* |
$ | 101,200 | ||
Dividend income from affiliated securities |
25 | |||
Interest income |
17 | |||
Total investment income |
101,242 | |||
Expenses: |
||||
Management and investment advisory fees (Note 2) |
10,280 | |||
Administrative service fees (Note 2): |
||||
Institutional Class |
5,496 | |||
Y Class |
13 | |||
Investor Class |
6,711 | |||
Advisor Class |
210 | |||
Retirement Class |
1 | |||
AMR Class |
145 | |||
A Class |
4 | |||
C Class |
1 | |||
Transfer agent fees: |
||||
Institutional Class |
84 | |||
Y Class |
1 | |||
Investor Class |
122 | |||
Advisor Class |
4 | |||
AMR Class |
15 | |||
Custody and fund accounting fees |
508 | |||
Professional fees |
200 | |||
Registration fees and expenses |
99 | |||
Service fees (Note 2): |
||||
Y Class |
4 | |||
Investor Class |
8,234 | |||
Advisor Class |
175 | |||
A Class |
2 | |||
Distribution fees (Note 2): |
||||
Advisor Class |
175 | |||
A Class |
3 | |||
C Class |
2 | |||
Retirement Class |
1 | |||
Prospectus and shareholder reports |
207 | |||
Insurance fees |
99 | |||
Trustee fees |
304 | |||
Other expenses |
277 | |||
Total expenses |
33,377 | |||
Net investment income |
67,865 | |||
Realized and unrealized gain (loss) on investments: |
||||
Net realized gain (loss) from: |
||||
Investments |
538,715 | |||
Commission recapture (Note 1) |
76 | |||
Futures contracts |
64,033 | |||
Change in net unrealized appreciation or depreciation of: |
||||
Investments |
573,740 | |||
Futures contracts |
(4,676 | ) | ||
Net gain on investments |
1,171,888 | |||
Net increase in net assets resulting from operations |
$ | 1,239,753 | ||
* Foreign taxes |
$ | 581 |
11
Six Months Ended | Year Ended | |||||||
April 30, 2011 | October 31, 2010 | |||||||
(unaudited) | ||||||||
Increase (Decrease) in Net Assets: |
||||||||
Operations: |
||||||||
Net investment income |
$ | 67,865 | $ | 115,549 | ||||
Net realized gain (loss) on investments, futures contracts, and
foreign currency transactions |
602,824 | (62,309 | ) | |||||
Change in net unrealized appreciation of investments, futures
contracts, and foreign currency translations |
569,064 | 992,998 | ||||||
Net increase in net assets resulting from operations |
1,239,753 | 1,046,238 | ||||||
Distributions to Shareholders: |
||||||||
Net investment income: |
||||||||
Institutional Class |
(47,238 | ) | (40,440 | ) | ||||
Y Class |
(27 | ) | (15 | ) | ||||
Investor Class |
(48,747 | ) | (61,616 | ) | ||||
Advisor Class |
(1,398 | ) | (1,747 | ) | ||||
AMR Class |
(8,633 | ) | (10,649 | ) | ||||
A Class |
(13 | ) | | |||||
Net distributions to shareholders |
(106,056 | ) | (114,467 | ) | ||||
Capital Share Transactions: |
||||||||
Proceeds from sales of shares |
1,096,111 | 2,598,273 | ||||||
Reinvestment of dividends and distributions |
101,485 | 109,446 | ||||||
Cost of shares redeemed |
(1,026,404 | ) | (2,099,289 | ) | ||||
Net increase in net assets from capital share transactions |
171,192 | 608,430 | ||||||
Net increase in net assets |
1,304,889 | 1,540,201 | ||||||
Net Assets: |
||||||||
Beginning of period |
8,195,741 | 6,655,540 | ||||||
End of Period * |
$ | 9,500,630 | $ | 8,195,741 | ||||
* Includes undistributed net investment income of |
$ | 48,705 | $ | 86,896 | ||||
12
Class: | Offered to: | |||
Institutional Class | Investors making an initial investment of $250,000 | |||
Y Class | Investors making an initial investment of $100,000 | |||
Investor Class | General public and investors investing through an intermediary | |||
Advisor Class | Investors investing through an intermediary | |||
Retirement Class | Investors investing through an intermediary | |||
AMR Class | Investors in the tax-exempt retirement and benefit plans of the Manager, AMR Corporation, and its affiliates | |||
A Class | General public and investors investing through an intermediary with applicable sales charges | |||
C Class | General public and investors investing through an intermediary with applicable sales charges |
13
Level 1 | Quoted prices in active markets for identical securities. | |||
Level 2 | Prices determined using other significant observable inputs. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, and others. | |||
Level 3 | Prices determined using other significant unobservable inputs. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in pricing an investment, and would be based on the best information available. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Short Term Investments |
$ | 279,883 | $ | | $ | | $ | 279,883 | ||||||||
Common Stock |
9,142,138 | | | 9,142,138 | ||||||||||||
Preferred Stock |
44,817 | | | 44,817 | ||||||||||||
Total Investments in Securities |
$ | 9,466,838 | $ | | $ | | $ | 9,466,838 | ||||||||
Futures Contracts |
15,605 | | | 15,605 |
14
Liability | ||||||||
Statement of Assets and Liabilities | Derivatives | Fair Value | ||||||
Unrealized appreciation of investments, futures contracts, and foreign currency |
Equity Contracts* | $ | 15,605 |
Statement of Operations | Derivative | Fair Value | ||||||
Net realized gain (loss) from futures contracts |
Equity Contracts | $ | 64,033 | |||||
Change in net unrealized appreciation or depreciation of futures contracts |
Equity Contracts | ($4,676 | ) |
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedule of Investments footnotes. Only current days variation margin is reported within the Statement of Assets and Liabilities. |
15
Amounts paid to | Net Amounts | |||||
Management | Management | Investment | Retained by | |||
Fee Rate | Fee | Advisors | Manager | |||
0.175%-0.65%
|
$10,280 | $8,064 | $2,216 |
16
17
Six Months Ended | Year Ended | |||||||
April 30, | October 31, | |||||||
2011 | 2010 | |||||||
Distributions paid from: | (unaudited) | |||||||
Ordinary income* |
||||||||
Institutional Class |
$ | 47,238 | $ | 40,440 | ||||
Y Class |
27 | 15 | ||||||
Investor Class |
48,747 | 61,616 | ||||||
Advisor Class |
1,398 | 1,747 | ||||||
AMR Class |
8633 | 10,649 | ||||||
A Class |
13 | | ||||||
Total distributions paid |
$ | 106,056 | $ | 114,467 | ||||
* | For tax purposes, short-term capital gains are considered ordinary income distributions. |
Cost basis of investments for federal income tax purposes |
$ | 8,803,462 | ||
Unrealized appreciation |
1,249,922 | |||
Unrealized depreciation |
(586,546 | ) | ||
Net unrealized appreciation/(depreciation) |
663,376 | |||
Undistributed ordinary income |
48,706 | |||
Undistributed long-term gain/(loss) |
(1,227,890 | ) | ||
Other temporary differences |
15,640 | |||
Distributable earnings |
$ | (500,168 | ) | |
Paid-in-capital |
$ | 4 | ||
Undistributed net investment income |
| |||
Accumulated net realized gain (loss) |
(4 | ) | ||
Unrealized appreciation (depreciation) of investments, futures contracts and foreign currency |
|
18
October 31, 2010 | April 30, 2011 | |||||||||||||||
Affiliate | Shares/Market Value | Purchases | Sales | Shares/Market Value | ||||||||||||
USG Select Fund |
$ | 60,000 | $ | | $ | 10,000 | $ | 50,000 |
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold |
22,378 | $ | 446,225 | 828 | $ | 16,527 | 31,861 | $ | 599,498 | 966 | $ | 18,240 | ||||||||||||||||||||
Reinvestment of dividends |
2,273 | 44,274 | 1 | 27 | 2,547 | 47,168 | 75 | 1,372 | ||||||||||||||||||||||||
Shares redeemed |
(17,789 | ) | (353,354 | ) | (42 | ) | (824 | ) | (32,548 | ) | (617,579 | ) | (652 | ) | (12,324 | ) | ||||||||||||||||
Net increase (decrease)
in shares outstanding |
6,862 | $ | 137,145 | 787 | $ | 15,730 | 1,860 | $ | 29,087 | 389 | $ | 7,288 | ||||||||||||||||||||
Retirement Class | AMR Class | A Class | C Class | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold |
31 | $ | 579 | 628 | $ | 12,396 | 111 | $ | 2,084 | 30 | $ | 562 | ||||||||||||||||||||
Reinvestment of dividends |
| | 448 | 8,633 | 1 | 11 | | | ||||||||||||||||||||||||
Shares redeemed |
(2 | ) | (31 | ) | (2,164 | ) | (42,278 | ) | (1 | ) | (13 | ) | | (1 | ) | |||||||||||||||||
Net increase (decrease)
in shares outstanding |
29 | $ | 548 | (1,088 | ) | $ | (21,249 | ) | 111 | $ | 2,082 | 30 | $ | 561 | ||||||||||||||||||
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold |
67,332 | $ | 1,191,741 | 199 | $ | 3,527 | 80,103 | $ | 1,343,174 | 1,315 | $ | 21,942 | ||||||||||||||||||||
Reinvestment of dividends |
2,134 | 36,957 | 1 | 15 | 3,645 | 60,109 | 105 | 1,716 | ||||||||||||||||||||||||
Shares redeemed |
(24,252 | ) | (425,661 | ) | (85 | ) | (1,472 | ) | (93,570 | ) | (1,565,806 | ) | (1,557 | ) | (26,092 | ) | ||||||||||||||||
Net increase (decrease)
in shares outstanding |
45,214 | $ | 803,037 | 115 | $ | 2,070 | (9,822 | ) | $ | (162,523 | ) | (137 | ) | $ | (2,434 | ) | ||||||||||||||||
Retirement Class | AMR Class | A Class | C Class | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold |
| $ | 1 | 2,145 | $ | 37,065 | 46 | $ | 786 | 2 | $ | 37 | ||||||||||||||||||||
Reinvestment of dividends |
| | 623 | 10,649 | | | | | ||||||||||||||||||||||||
Shares redeemed |
| | (4,647 | ) | (80,258 | ) | | | | | ||||||||||||||||||||||
Net increase (decrease)
in shares outstanding |
| $ | 1 | (1,879 | ) | $ | (32,544 | ) | 46 | $ | 786 | 2 | $ | 37 | ||||||||||||||||||
19
Institutional Class | ||||||||||||||||||||||||
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
April 30, | Year Ended October 31, | |||||||||||||||||||||||
2011F | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 18.56 | $ | 16.32 | $ | 15.01 | $ | 26.03 | $ | 23.77 | $ | 21.00 | ||||||||||||
Income from investment operations: |
||||||||||||||||||||||||
Net investment incomeA |
0.17 | 0.32 | 0.35 | 0.51 | 0.40 | 0.31 | ||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
2.62 | 2.22 | 1.40 | (10.41 | ) | 2.78 | 3.48 | |||||||||||||||||
Total income (loss) from investment operations |
2.79 | 2.54 | 1.75 | (9.90 | ) | 3.18 | 3.79 | |||||||||||||||||
Less distributions: |
||||||||||||||||||||||||
Dividends from net investment income |
(0.26 | ) | (0.30 | ) | (0.44 | ) | (0.41 | ) | (0.31 | ) | (0.26 | ) | ||||||||||||
Distributions from net realized gains on securities |
| | | (0.71 | ) | (0.61 | ) | (0.76 | ) | |||||||||||||||
Total distributions |
(0.26 | ) | (0.30 | ) | (0.44 | ) | (1.12 | ) | (0.92 | ) | (1.02 | ) | ||||||||||||
Net asset value, end of period |
$ | 21.09 | $ | 18.56 | $ | 16.32 | $ | 15.01 | $ | 26.03 | $ | 23.77 | ||||||||||||
Total return B |
15.16 | %C | 15.68 | % | 12.41 | % | (39.59 | )% | 13.76 | % | 18.69 | % | ||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 3,969,122 | $ | 3,366,011 | $ | 2,221,162 | $ | 2,038,539 | $ | 2,493,451 | $ | 958,830 | ||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||
Expenses, net of waivers |
0.58 | % | 0.59 | % | 0.61 | % | 0.58 | % | 0.59 | % | 0.60 | % | ||||||||||||
Expenses, before waivers |
0.58 | % | 0.59 | % | 0.61 | % | 0.58 | % | 0.59 | % | 0.60 | % | ||||||||||||
Net investment income, net of waivers |
1.71 | % | 1.73 | % | 2.36 | % | 2.19 | % | 1.82 | % | 1.86 | % | ||||||||||||
Net investment income (loss), before waivers |
1.71 | % | 1.73 | % | 2.36 | % | 2.19 | % | 1.82 | % | 1.86 | % | ||||||||||||
Portfolio turnover rate |
67 | %C | 28 | % | 27 | % | 28 | % | 20 | % | 26 | % |
A | For purposes of this calculation, through October 31, 2007, the change in undistributed net investment income per share was derived by dividing the change in undistributed net investment income by average shares outstanding. | |
B | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
C | Not annualized. | |
D | Portfolio turnover rate is for the period from November 1, 2008 through October 31, 2009. | |
E | Annualized. | |
F | On December 1, 2010, MFS Institutional Advisors, Inc. assumed management of the Large Cap Value Funds assets previously managed by Metropolitan West Capital Management, LLC. |
20
Y Class | Investor Class | |||||||||||||||||||||||||||||||||||
Six | ||||||||||||||||||||||||||||||||||||
Months | Year | August | ||||||||||||||||||||||||||||||||||
Ended | ended | 03 to | Six Months | |||||||||||||||||||||||||||||||||
April | October | October | Ended April | Year Ended October 31, | ||||||||||||||||||||||||||||||||
30, 2011F | 31, 2010 | 31, 2009 | 30, 2011F | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||||||
$ | 18.49 | $ | 16.32 | $ | 15.59 | $ | 17.61 | $ | 15.51 | $ | 14.29 | $ | 24.83 | $ | 22.74 | $ | 20.16 | |||||||||||||||||||
0.26 | 0.29 | 0.06 | 0.13 | 0.23 | 0.28 | 0.41 | 0.35 | 0.28 | ||||||||||||||||||||||||||||
2.52 | 2.22 | 0.67 | 2.49 | 2.12 | 1.34 | (9.88 | ) | 2.63 | 3.31 | |||||||||||||||||||||||||||
2.78 | 2.51 | 0.73 | 2.62 | 2.35 | 1.62 | (9.47 | ) | 2.98 | 3.59 | |||||||||||||||||||||||||||
(0.24 | ) | (0.34 | ) | | (0.21 | ) | (0.25 | ) | (0.40 | ) | (0.36 | ) | (0.28 | ) | (0.25 | ) | ||||||||||||||||||||
| | | | | | (0.71 | ) | (0.61 | ) | (0.76 | ) | |||||||||||||||||||||||||
(0.24 | ) | (0.34 | ) | | (0.21 | ) | (0.25 | ) | (0.40 | ) | (1.07 | ) | (0.89 | ) | (1.01 | ) | ||||||||||||||||||||
$ | 21.03 | $ | 18.49 | $ | 16.32 | $ | 20.02 | $ | 17.61 | $ | 15.51 | $ | 14.29 | $ | 24.83 | $ | 22.74 | |||||||||||||||||||
15.13 | %C | 15.50 | % | 4.68 | %C | 14.95 | %C | 15.27 | % | 11.99 | % | (39.72 | )% | 13.46 | % | 18.44 | % | |||||||||||||||||||
$ | 18,962 | $ | 2,123 | $ | 1 | $ | 4,743,713 | $ | 4,140,584 | $ | 3,798,632 | $ | 3,594,565 | $ | 5,198,835 | $ | 2,586,410 | |||||||||||||||||||
0.69 | % | 0.70 | % | 0.68 | %E | 0.94 | % | 0.96 | % | 0.93 | % | 0.83 | % | 0.83 | % | 0.85 | % | |||||||||||||||||||
0.69 | % | 0.70 | % | 0.68 | %E | 0.94 | % | 0.96 | % | 0.93 | % | 0.83 | % | 0.83 | % | 0.85 | % | |||||||||||||||||||
1.38 | % | 1.51 | % | 1.58 | %E | 1.34 | % | 1.36 | % | 2.05 | % | 1.94 | % | 1.59 | % | 1.61 | % | |||||||||||||||||||
1.38 | % | 1.51 | % | 1.58 | %E | 1.34 | % | 1.36 | % | 2.05 | % | 1.94 | % | 1.59 | % | 1.61 | % | |||||||||||||||||||
67 | %C | 28 | % | 27 | %D | 67 | %C | 28 | % | 27 | % | 28 | % | 20 | % | 26 | % |
21
Advisor Class | Retirement Class | |||||||||||||||||||||||||||||||
Six | Six | |||||||||||||||||||||||||||||||
Months | Months | Year | ||||||||||||||||||||||||||||||
Ended | Ended | ended | ||||||||||||||||||||||||||||||
April 30, | Year Ended October 31, | April 30, | October | |||||||||||||||||||||||||||||
2011G | 2010 | 2009 | 2008 | 2007 | 2006 | 2011G | 31, 2010 | |||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 17.47 | $ | 15.39 | $ | 14.19 | $ | 24.70 | $ | 22.64 | $ | 20.13 | $ | 17.32 | $ | 15.36 | ||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||
Net investment income (loss)A |
0.12 | 0.21 | 0.26 | 0.32 | 0.28 | 0.26 | 0.15 | 0.18 | ||||||||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
2.46 | 2.10 | 1.32 | (9.79 | ) | 2.62 | 3.27 | 2.40 | 2.07 | |||||||||||||||||||||||
Total income (loss) from investment operations |
2.58 | 2.31 | 1.58 | (9.47 | ) | 2.90 | 3.53 | 2.55 | 2.25 | |||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.19 | ) | (0.23 | ) | (0.38 | ) | (0.33 | ) | (0.23 | ) | (0.26 | ) | (0.08 | ) | (0.29 | ) | ||||||||||||||||
Distributions from net realized gains on securities |
| | | (0.71 | ) | (0.61 | ) | (0.76 | ) | | | |||||||||||||||||||||
Total distributions |
(0.19 | ) | (0.23 | ) | (0.38 | ) | (1.04 | ) | (0.84 | ) | (1.02 | ) | (0.08 | ) | (0.29 | ) | ||||||||||||||||
Net asset value, end of period |
$ | 19.86 | $ | 17.47 | $ | 15.39 | $ | 14.19 | $ | 24.70 | $ | 22.64 | $ | 19.79 | $ | 17.32 | ||||||||||||||||
Total return B |
14.85 | %C | 15.14 | % | 11.81 | % | (39.87 | )% | 13.16 | % | 18.18 | % | 14.74 | %C | 14.78 | % | ||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 153,338 | $ | 128,080 | $ | 114,945 | $ | 99,416 | $ | 99,854 | $ | 39,077 | $ | 585 | $ | 2 | ||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||
Expenses, net of waivers |
1.07 | % | 1.10 | % | 1.10 | % | 1.08 | % | 1.08 | % | 1.09 | % | 1.34 | % | 1.37 | % | ||||||||||||||||
Expenses, before waivers |
1.07 | % | 1.10 | % | 1.12 | % | 1.08 | % | 1.08 | % | 1.09 | % | 1.34 | % | 1.37 | % | ||||||||||||||||
Net investment income, net of waivers |
1.21 | % | 1.23 | % | 1.86 | % | 1.69 | % | 1.32 | % | 1.39 | % | 0.80 | % | 0.95 | % | ||||||||||||||||
Net investment income (loss), before waivers |
1.21 | % | 1.23 | % | 1.84 | % | 1.69 | % | 1.32 | % | 1.39 | % | 0.80 | % | 0.95 | % | ||||||||||||||||
Portfolio turnover rate |
67 | %C | 28 | % | 27 | % | 28 | % | 20 | % | 26 | % | 67 | %C | 28 | % |
A | For purposes of this calculation, through October 31, 2007, the change in undistributed net investment income per share was derived by dividing the change in undistributed net investment income by average shares outstanding. | |
B | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
C | Not annualized. | |
D | Annualized. | |
E | Portfolio turnover rate is for the period from November 1, 2008 through October 31, 2009. | |
F | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. | |
G | On December 1, 2010, MFS Institutional Advisors, Inc. assumed management of the Large Cap Value Funds assets previously managed by Metropolitan West Capital Management, LLC. |
22
A Class | C Class | |||||||||||||||||||
Six | Six | |||||||||||||||||||
May 01 | Months | May 17 | Months | September | ||||||||||||||||
to | Ended | to | Ended | 01 to | ||||||||||||||||
October | April 30, | October | April 30, | October | ||||||||||||||||
31, 2009 | 2011G | 31, 2010 | 2011G | 31, 2010 | ||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||
$ | 12.66 | $ | 17.61 | $ | 16.93 | $ | 17.58 | $ | 16.17 | |||||||||||
0.08 | 0.12 | 0.03 | 0.05 | (0.01 | ) | |||||||||||||||
2.62 | 2.49 | 0.65 | 2.48 | 1.42 | ||||||||||||||||
2.70 | 2.61 | 0.68 | 2.53 | 1.41 | ||||||||||||||||
| (0.15 | ) | | (0.05 | ) | | ||||||||||||||
| | | | | ||||||||||||||||
| (0.15 | ) | | (0.05 | ) | | ||||||||||||||
$ | 15.36 | $ | 20.07 | $ | 17.61 | $ | 20.06 | $ | 17.58 | |||||||||||
21.33 | % | 14.91 | %C | 4.02 | %C | 14.39 | %C | 8.72 | %C | |||||||||||
$ | 1 | $ | 3,147 | $ | 814 | $ | 636 | $ | 38 | |||||||||||
1.37 | %D | 1.07 | % | 1.06 | %D | 1.81 | % | 1.87 | %D | |||||||||||
1.37 | %D | 1.07 | % | 1.06 | %D | 1.81 | % | 2.14 | %D | |||||||||||
1.15 | %D | 1.13 | % | 1.09 | %D | 0.28 | % | (0.50 | )%D | |||||||||||
1.15 | %D | 1.13 | % | 1.09 | %D | 0.28 | % | (0.76 | )%D | |||||||||||
27 | %E | 67 | %C | 28 | %F | 67 | %C | 28 | %F |
23
AMR Class | ||||||||||||||||||||||||
Six | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
April 30, | Year Ended October 31, | |||||||||||||||||||||||
2011D | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 18.37 | $ | 16.14 | $ | 14.88 | $ | 25.80 | $ | 23.55 | $ | 20.78 | ||||||||||||
Income from investment operations: |
||||||||||||||||||||||||
Net investment incomeA |
0.19 | 0.34 | 0.37 | 0.51 | 0.45 | 0.35 | ||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
2.59 | 2.22 | 1.38 | (10.26 | ) | 2.76 | 3.47 | |||||||||||||||||
Total income (loss) from investment operations |
2.78 | 2.56 | 1.75 | (9.75 | ) | 3.21 | 3.82 | |||||||||||||||||
Less distributions: |
||||||||||||||||||||||||
Dividends from net investment income |
(0.29 | ) | (0.33 | ) | (0.49 | ) | (0.46 | ) | (0.35 | ) | (0.29 | ) | ||||||||||||
Distributions from net realized gains on securities |
| | | (0.71 | ) | (0.61 | ) | (0.76 | ) | |||||||||||||||
Total distributions |
(0.29 | ) | (0.33 | ) | (0.49 | ) | (1.17 | ) | (0.96 | ) | (1.05 | ) | ||||||||||||
Net asset value, end of period |
$ | 20.86 | $ | 18.37 | $ | 16.14 | $ | 14.88 | $ | 25.80 | $ | 23.55 | ||||||||||||
Total return B |
15.27 | %C | 16.04 | % | 12.59 | % | (39.43 | )% | 14.03 | % | 19.08 | % | ||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 611,127 | $ | 558,089 | $ | 520,799 | $ | 497,127 | $ | 972,260 | $ | 1,024,899 | ||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||
Expenses, net of waivers |
0.33 | % | 0.34 | % | 0.36 | % | 0.32 | % | 0.32 | % | 0.34 | % | ||||||||||||
Expenses, before waivers |
0.33 | % | 0.34 | % | 0.36 | % | 0.32 | % | 0.32 | % | 0.34 | % | ||||||||||||
Net investment income, net of waivers |
1.97 | % | 1.98 | % | 2.62 | % | 2.44 | % | 2.13 | % | 2.18 | % | ||||||||||||
Net investment income (loss), before waivers |
1.97 | % | 1.98 | % | 2.62 | % | 2.44 | % | 2.13 | % | 2.18 | % | ||||||||||||
Portfolio turnover rate |
67 | %C | 28 | % | 27 | % | 28 | % | 20 | % | 26 | % |
A | For purposes of this calculation, through October 31, 2007, the change in undistributed net investment income per share was derived by dividing the change in undistributed net investment income by average shares outstanding. | |
B | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
C | Not annualized. | |
D | On December 1, 2010, MFS Institutional Advisors, Inc. assumed management of the Large Cap Value Funds assets previously managed by Metropolitan West Capital Management, LLC. |
24
| a description of the advisory and related services proposed to be provided to the Fund; | ||
| a description of how MFS anticipates handling the transition of the portion of the Funds portfolio that was previously managed by MetWest to MFS and the extent to which current holdings will be maintained or sold; | ||
| identification of the professional personnel to perform services for the Fund and their education, experience and responsibilities; | ||
| a comparison of the performance of accounts similar to the Fund managed by MFS with the performance of applicable indices; | ||
| an analysis of the proposed advisory fee, a comparison to the fees charged to other comparable clients and an explanation of any differences between the fee schedules; | ||
| whether MFS charges a lower advisory fee to other clients for which it provides services comparable to the services proposed for the Fund and, if so, an explanation of the rationale for charging the other clients a lower fee; | ||
| a description of the portfolio managers compensation, including any incentive arrangements, and if compensation is tied to performance, a description of the oversight mechanisms to prevent a manager with lagging performance from taking undue risks; | ||
| a description of MFS compliance program and matters, as well as its trading activities; and | ||
| any other information MFS believed would be material to the Boards consideration of the MFS Agreement. |
25
26
27
28
29
7
|
8 | |
By E-mail:
|
On the Internet: | |
american_beacon.funds@ambeacon.com
|
Visit our website at www.americanbeaconfunds.com | |
(
|
- | |
By Telephone: |
By Mail: | |
Institutional, Y, Investor, Advisor, and Retirement Classes
|
American Beacon Funds | |
Call (800) 658-5811
|
P.O. Box 219643 | |
AMR ClassSM
|
Kansas City, MO 64121-9643 | |
Call (800) 345-2345
|
||
Availability of Quarterly Portfolio Schedules
|
Availability of Proxy Voting Policy and Records | |
In addition to the Schedule of Investments provided in
each semi-annual and annual report, the Fund files a
complete schedule of its portfolio holdings with the
Securities and Exchange Commission (SEC) on Form N-Q as
of the first and third fiscal quarters. The Funds Forms
N-Q are available on the SECs website at www.sec.gov. The
Forms N-Q may also be reviewed and copied at the SECs
Public Reference Room, 450 Fifth Street, NW, Washington,
DC 20549. Information regarding the operation of the
SECs Public Reference Room may be obtained by calling
1-800-SEC-0330. A complete schedule of the Funds
portfolio holdings is also available on the Funds website
(www.americanbeaconfunds.com) approximately twenty days
after the end of each month.
|
A description of the policies and procedures the Fund uses to determine how to vote proxies relating to portfolio securities is available in the Funds Statement of Additional Information, is available free of charge on the Funds website (www.americanbeaconfunds.com) and by calling 1-800-967-9009 or by accessing the SECs website at www.sec.gov. The Funds proxy voting record for the most recent year ended June 30 is filed annually with the SEC on Form N-PX. The Funds Forms N-PX are available on the SECs website at www.sec.gov. The Funds proxy voting record may also be obtained by calling 1-800-967-9009. |
Custodian State Street Bank and Trust Boston, Massachusetts |
Transfer Agent Boston Financial Data Services Kansas City, Missouri |
Independent Registered Public Accounting Firm Ernst & Young LLP Dallas, Texas |
Distributor Foreside Fund Services, LLC Portland, Maine |
G U I D A N C E l V I S I O N l E X P E R I E N C E April 30, 2011 S M A L L C A P V A L U E F U N D Semi-Annual ReportSMALL CAP VALUE FUND |
April 30, 2011 |
1 | ||||
2 | ||||
6 | ||||
Back Cover |
American Beacon Funds | April 30, 2011 |
Best Regards, | ||||
![]() |
||||
Gene L. Needles, Jr. | ||||
President American Beacon Funds |
1
2
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional Class(1,8) |
23.36 | % | 19.67 | % | 4.45 | % | 11.32 | % | ||||||||
Y Class (1,2,8) |
23.30 | % | 19.53 | % | 4.37 | % | 11.27 | % | ||||||||
Investor Class(1,8) |
23.08 | % | 19.17 | % | 4.14 | % | 10.97 | % | ||||||||
Advisor Class(1,3,8) |
23.07 | % | 19.08 | % | 3.93 | % | 10.77 | % | ||||||||
Retirement Class (1,4,8). |
22.88 | % | 18.75 | % | 3.83 | % | 10.71 | % | ||||||||
A Class with sales
charges (1,5,8) |
15.96 | % | 12.19 | % | 2.89 | % | 10.31 | % | ||||||||
A Class without sales
charges (1,5,8) |
23.03 | % | 19.06 | % | 4.12 | % | 10.96 | % | ||||||||
C Class with sales
charge (1,6,8) |
21.57 | % | 17.41 | % | 4.00 | % | 10.90 | % | ||||||||
C Class without sales
charge (1,6,8) |
22.57 | % | 18.41 | % | 4.00 | % | 10.90 | % | ||||||||
AMR Class(1,8) |
23.45 | % | 19.94 | % | 4.71 | % | 11.60 | % | ||||||||
Lipper Small-Cap
Value Funds Index(7) |
21.93 | % | 18.24 | % | 4.04 | % | 9.75 | % | ||||||||
Russell 2000 Value
Index (7) |
20.31 | % | 14.57 | % | 2.50 | % | 8.69 | % |
* | Not annualized |
1. | Please note that the recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future. Performance shown is historical and may not be indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please call 1-800-967-9009 or visit www.americanbeaconfunds.com. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. | ||
2. | Fund performance for the five-year and ten-year periods represents the total returns achieved by the Institutional Class from 4/30/01 up to 8/3/09, the inception date of the Y Class. Expenses of the Y Class are higher than those of the Institutional Class. As a result, total returns shown may be higher than they would have been had the Y Class been in existence since 4/30/01. | ||
3. | Fund performance for the ten-year period represents the total returns achieved by the Investor Class from 4/30/01 up to 5/1/03 and the returns of the Advisor Class since its inception. Expenses of the Advisor Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the Advisor Class been in existence since 4/30/01. A portion of the fees charged to the Advisor Class of the Fund was waived through 2004. Performance prior to waiving fees was lower than the actual returns shown for periods through 2004. | ||
4. | Fund performance for the five-year and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 up to 5/1/03 and the Advisor Class from 5/1/03 up to 5/1/09, the inception date of the Retirement Class, and the returns of the Retirement Class since its inception. Expenses of the Retirement Class are higher than those of the Advisor and Investor Classes. As a result, total returns shown may be higher than they would have been had the Retirement Class been in existence since 4/30/01. | ||
5. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 up to 5/17/10, the inception date of the A Class, and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the A Class been inexistence since 4/30/01. The maximum sales charge for A Class is 5.75%. | ||
6. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 up to 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the C Class been inexistence since 4/30/01. The maximum contingent deferred sales charge for C Class is 1.00% for shares redeemed within one year of the date of purchase. | ||
7. | Russell 2000® Value Index is a registered trademark of Frank Russell Company. The Russell 2000 Value Index is an unmanaged index of those stocks in the Russell 2000 Index with lower price-to-book ratios and lower forecasted growth values. The Lipper Small-Cap Value Funds Index tracks the results of the 30 largest mutual funds in the Lipper Small-Cap Value Funds category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | ||
8. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, Investor, Advisor, Retirement, A, C, and AMR Class shares was 0.82%, 0.92%, 1.19%, 1.33%, 1.55%, 1.29%, 2.11%, and 0.58%, respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that are based on expenses incurred during the period covered by this report. |
3
% of | ||||
Net Assets | ||||
LifePoint Hospitals, Inc. |
1.0 | % | ||
Valassis Communications, Inc. |
0.9 | % | ||
Tidewater, Inc. |
0.9 | % | ||
Rent-A-Center, Inc. |
0.8 | % | ||
Vishay Intertechnology, Inc. |
0.8 | % | ||
Ezcorp, Inc. |
0.8 | % | ||
AMERIGROUP Corp. |
0.7 | % | ||
Terex Corp. |
0.7 | % | ||
Portland General Electric Co. |
0.7 | % | ||
Great Plains Energy, Inc. |
0.7 | % |
% of | ||||
Equities | ||||
Financials |
25.5 | % | ||
Consumer Discretionary |
15.8 | % | ||
Industrials |
15.5 | % | ||
Information Technology |
14.6 | % | ||
Health Care |
9.2 | % | ||
Materials |
6.1 | % | ||
Energy |
6.0 | % | ||
Utilities |
5.3 | % | ||
Consumer Staples |
1.8 | % | ||
Telecommunication Services |
0.2 | % |
4
Beginning | Expenses Paid | |||||||||||
Account Value | Ending Account | During Period* | ||||||||||
11/1/10 | Value 4/30/11 | 11/1/10-4/30/11 | ||||||||||
Institutional Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,233.60 | $ | 4.39 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,020.87 | $ | 3.97 | ||||||
Y Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,233.03 | $ | 4.98 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,020.33 | $ | 4.51 | ||||||
Investor Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,230.78 | $ | 6.37 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,019.08 | $ | 5.77 | ||||||
Advisor Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,230.68 | $ | 7.14 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,018.39 | $ | 6.46 | ||||||
Retirement Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,228.85 | $ | 8.56 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,017.11 | $ | 7.75 | ||||||
AMR Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,234.47 | $ | 3.01 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,022.10 | $ | 2.73 | ||||||
A Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,230.29 | $ | 7.03 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,018.49 | $ | 6.37 | ||||||
C Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,225.71 | $ | 11.03 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,014.88 | $ | 9.98 |
* | Expenses are equal to the Funds annualized expense ratios for the six-month period of 0.79%, 0.90%, 1.15%, 1.29%, 1.55%, 0.54%, 1.27% and 2.00% for the Institutional, Y, Investor, Advisor, Retirement, AMR, A and C Classes respectively, multiplied by the average account value over the period, multiplied by the number derived by dividing the number of days in the most recent fiscal half-year (181) by days in the year (365) to reflect the half year period. | |
** | 5% return before expenses. |
5
Shares | Value | |||||||
($000) | ||||||||
COMMON STOCK - 94.17% |
||||||||
CONSUMER DISCRETIONARY - 14.91% |
||||||||
Auto Components - 1.47% |
||||||||
American Axle & Manufacturing Holdings, Inc. |
1,403,625 | 17,965 | ||||||
Cooper Tire & Rubber Co. |
229,900 | 6,203 | ||||||
Dorman Products, Inc.A |
9,200 | 359 | ||||||
Exide TechnologiesA |
191,900 | 1,927 | ||||||
Gentex Corp. |
456,300 | 14,305 | ||||||
Superior Industries International, Inc. |
58,400 | 1,476 | ||||||
The Goodyear Tire & Rubber Co. |
675,700 | 12,264 | ||||||
54,499 | ||||||||
Automobiles - 0.18% |
||||||||
Thor Industries, Inc. |
211,220 | 6,550 | ||||||
Commercial Services & Supplies - 0.10% |
||||||||
Viad Corp. |
154,540 | 3,834 | ||||||
Distributors - 0.24% |
||||||||
Brightpoint, Inc.A |
893,600 | 9,043 | ||||||
Hotels, Restaurants & Leisure - 0.97% |
||||||||
Bob Evans Farms, Inc. |
81,500 | 2,556 | ||||||
Boyd Gaming Corp.A B |
231,430 | 2,069 | ||||||
Brinker International, Inc. |
66,390 | 1,599 | ||||||
CEC Entertainment, Inc. |
30,800 | 1,165 | ||||||
Cracker Barrel Old Country Store, Inc. |
77,311 | 3,961 | ||||||
Dominos Pizza, Inc. |
165,100 | 3,066 | ||||||
International Speedway Corp. |
129,704 | 3,970 | ||||||
Jack in the Box, Inc.A |
374,110 | 7,726 | ||||||
Lakes Entertainment, Inc.A |
150,800 | 345 | ||||||
Life Time Fitness, Inc.A |
29,305 | 1,146 | ||||||
Orient-Express Hotels Ltd. |
236,300 | 2,899 | ||||||
Ruby Tuesday, Inc. |
143,144 | 1,504 | ||||||
Sonic Corp.A |
145,265 | 1,630 | ||||||
Speedway Motorsports, Inc.B |
152,210 | 2,371 | ||||||
36,007 | ||||||||
Household Durables - 1.54% |
||||||||
Cavco Industries, Inc.A |
58,099 | 2,700 | ||||||
Ethan Allen Interiors, Inc. |
301,180 | 7,255 | ||||||
Furniture Brands International, Inc. |
833,900 | 4,036 | ||||||
Helen of Troy Ltd.A |
135,203 | 4,208 | ||||||
Lancaster Colony Corp.B |
118,730 | 7,256 | ||||||
Meritage Homes Corp. |
221,050 | 5,285 | ||||||
Mohawk Industries, Inc.A |
16,400 | 985 | ||||||
National Presto Industries, Inc.B |
14,600 | 1,621 | ||||||
Ryland Group, Inc. |
371,160 | 6,425 | ||||||
Tupperware Brands Corp. |
40,500 | 2,579 | ||||||
Whirlpool Corp. |
169,800 | 14,633 | ||||||
56,983 | ||||||||
Internet & Catalog Retail - 0.06% |
||||||||
Insight Enterprises, Inc.A |
102,700 | 1,763 | ||||||
Nutrisystem, Inc.B |
33,538 | 504 | ||||||
2,267 | ||||||||
Leisure Equipment & Products - 0.43% |
||||||||
Brunswick Corp. |
516,200 | 12,064 | ||||||
Callaway Golf Co. |
132,400 | 937 | ||||||
Jakks Pacific, Inc.A B |
137,690 | 2,897 | ||||||
15,898 | ||||||||
Media - 1.67% |
||||||||
Belo Corp. |
205,200 | 1,734 | ||||||
Cinemark Holdings, Inc. |
192,800 | 3,920 | ||||||
EW Scripps Co. |
114,900 | 1,092 | ||||||
Harte-Hanks, Inc. |
119,200 | 1,107 | ||||||
John Wiley & Sons, Inc. |
118,500 | 6,035 | ||||||
Meredith Corp.B |
238,810 | 7,981 | ||||||
Scholastic Corp. |
134,400 | 3,532 | ||||||
Sinclair Broadcast Group, Inc. |
135,900 | 1,561 | ||||||
Valassis Communications, Inc. |
1,191,900 | 34,363 | ||||||
61,325 | ||||||||
Multiline Retail - 1.23% |
||||||||
99 Cents Only StoresA |
619,580 | 12,491 | ||||||
Big Lots, Inc. |
406,200 | 16,699 | ||||||
BJs Wholesale Club, Inc.A |
141,410 | 7,257 | ||||||
Dillards, Inc.B |
166,600 | 8,000 | ||||||
Freds, Inc. |
86,300 | 1,205 | ||||||
45,652 | ||||||||
Specialty Retail - 5.66% |
||||||||
Aarons, Inc. |
337,235 | 9,709 | ||||||
Aeropostale, Inc.A |
605,900 | 15,469 | ||||||
American Greetings Corp. |
111,700 | 2,748 | ||||||
Americas Car-Mart, Inc.A |
319,500 | 7,821 | ||||||
Asbury Automotive Group, Inc. |
82,600 | 1,429 | ||||||
Ascena Retail Group, Inc.A |
147,300 | 4,609 | ||||||
Big 5 Sporting Goods Corp. |
197,020 | 2,354 | ||||||
Cabelas, Inc.A |
807,100 | 20,612 | ||||||
Chicos FAS, Inc. |
345,160 | 5,050 | ||||||
Collective Brands, Inc.A |
704,034 | 14,785 | ||||||
DG FastChannel, Inc.A |
441,350 | 16,149 | ||||||
Express, Inc. |
253,950 | 5,483 | ||||||
Foot Locker, Inc. |
810,030 | 17,432 | ||||||
GameStop Corp.A B |
207,500 | 5,329 | ||||||
Group 1 Automotive, Inc.B |
52,200 | 2,247 | ||||||
Hanesbrands, Inc.A |
30,750 | 1,000 | ||||||
Interline Brands, Inc.A |
16,200 | 342 | ||||||
JOS A Bank Clothiers, Inc.A B |
47,950 | 2,514 | ||||||
OfficeMax, Inc. |
91,925 | 916 | ||||||
Pier 1 Imports, Inc.A |
293,200 | 3,571 | ||||||
Regis Corp. |
189,810 | 3,227 | ||||||
Rent-A-Center, Inc. |
1,002,548 | 30,527 | ||||||
Sonic Automotive, Inc.B |
88,600 | 1,249 | ||||||
Stage Stores, Inc. |
120,820 | 2,327 | ||||||
The Buckle Inc.B |
95,900 | 4,362 | ||||||
The Cato Corp. |
45,100 | 1,151 | ||||||
The Childrens Place Retail Stores Inc.A |
114,250 | 6,075 | ||||||
The Finish Line Inc. |
96,300 | 2,069 | ||||||
The Mens Wearhouse Inc. |
660,100 | 18,410 | ||||||
208,966 | ||||||||
Textiles & Apparel - 1.36% |
||||||||
Carters, Inc.A |
109,900 | 3,398 | ||||||
G-III Apparel Group Ltd.A |
53,000 | 2,378 | ||||||
Maidenform Brands, Inc.A |
64,200 | 2,033 | ||||||
Quiksilver, Inc.A |
1,753,000 | 7,626 | ||||||
Skechers U.S.A. Inc.A |
625,550 | 11,917 | ||||||
The Jones Group Inc. |
1,208,737 | 16,474 | ||||||
The Timberland Co. |
73,180 | 3,307 | ||||||
Unifirst Corp. |
32,500 | 1,682 | ||||||
Wolverine World Wide, Inc. |
39,300 | 1,559 | ||||||
50,374 | ||||||||
Total Consumer Discretionary |
551,398 | |||||||
6
Shares | Value | |||||||
($000) | ||||||||
CONSUMER STAPLES - 1.65% |
||||||||
Food & Drug Retailing - 0.60% |
||||||||
Caseys General Stores, Inc. |
89,836 | 3,506 | ||||||
Central European Distribution Corp.A |
62,025 | 733 | ||||||
Flowers Foods, Inc. |
205,650 | 6,285 | ||||||
Nash Finch Co. |
65,700 | 2,445 | ||||||
Spartan Stores, Inc. |
272,430 | 4,253 | ||||||
The Andersons Inc. |
50,600 | 2,512 | ||||||
Winn-Dixie Stores, Inc.A |
360,090 | 2,553 | ||||||
22,287 | ||||||||
Food Products - 0.90% |
||||||||
Chiquita Brands International, Inc.A |
154,617 | 2,462 | ||||||
Corn Products International, Inc. |
14,120 | 778 | ||||||
Fresh Del Monte Produce, Inc. |
163,200 | 4,424 | ||||||
Overhill Farms, Inc.A |
316,300 | 1,948 | ||||||
Sanderson Farms, Inc. |
83,945 | 3,996 | ||||||
Smithfield Foods, Inc.A |
441,700 | 10,407 | ||||||
Snyders-Lance, Inc. |
281,820 | 5,566 | ||||||
The Hain Celestial Group Inc.A |
108,956 | 3,706 | ||||||
33,287 | ||||||||
Personal Products - 0.05% |
||||||||
Revlon, Inc.A |
106,000 | 1,825 | ||||||
Tobacco - 0.10% |
||||||||
Schweitzer-Mauduit International, Inc. |
43,800 | 2,270 | ||||||
Universal Corp. |
30,144 | 1,308 | ||||||
3,578 | ||||||||
Total Consumer Staples |
60,977 | |||||||
ENERGY - 5.64% |
||||||||
Energy Equipment & Services - 3.36% |
||||||||
Atwood Oceanics, Inc.A |
450,602 | 20,245 | ||||||
Bristow Group, Inc. |
196,200 | 9,104 | ||||||
Cal Dive International, Inc.A |
837,860 | 6,586 | ||||||
Dawson Geophysical Co.A B |
34,860 | 1,555 | ||||||
Global Industries Ltd.A |
885,840 | 8,734 | ||||||
Hercules Offshore, Inc.A |
253,600 | 1,591 | ||||||
Matrix Service Co.A |
383,767 | 5,549 | ||||||
Newpark Resources, Inc.A |
651,560 | 5,884 | ||||||
Oil States International, Inc.A |
94,900 | 7,878 | ||||||
Parker Drilling Co.A |
125,100 | 892 | ||||||
SEACOR Holdings, Inc. |
59,750 | 5,905 | ||||||
Superior Energy Services, Inc.A |
37,735 | 1,450 | ||||||
Tesco Corp.A |
155,028 | 2,916 | ||||||
Tidewater, Inc. |
565,820 | 33,671 | ||||||
Unit Corp.A |
187,585 | 11,822 | ||||||
Willbros Group, Inc.A |
51,500 | 554 | ||||||
124,336 | ||||||||
Oil & Gas - 2.28% |
||||||||
Berry Petroleum Co. |
111,460 | 5,922 | ||||||
Bill Barrett Corp.A |
56,210 | 2,346 | ||||||
Cloud Peak Energy, Inc. |
617,900 | 12,864 | ||||||
Comstock Resources, Inc.A B |
227,290 | 7,287 | ||||||
Contango Oil & Gas Co.A |
90,535 | 5,606 | ||||||
Energy Partners Ltd.A |
100,200 | 1,825 | ||||||
Frontier Oil Corp. |
142,950 | 3,994 | ||||||
Helix Energy Solutions Group, Inc.A |
111,100 | 2,103 | ||||||
Petroquest Energy, Inc.A B |
150,400 | 1,318 | ||||||
Rex Energy Corp.A |
334,850 | 4,296 | ||||||
Stone Energy Corp.A |
490,500 | 17,343 | ||||||
Tesoro Corp. |
429,575 | 11,650 | ||||||
W&T Offshore, Inc.B |
167,434 | 4,489 | ||||||
Warren Resources, Inc.A |
730,168 | 3,308 | ||||||
84,351 | ||||||||
Total Energy |
208,687 | |||||||
FINANCIALS - 24.00% |
||||||||
Banks - 7.50% |
||||||||
1st Source Corp. |
45,800 | 972 | ||||||
Associated Banc-Corp. |
1,282,100 | 18,719 | ||||||
Astoria Financial Corp. |
201,300 | 2,913 | ||||||
BancorpSouth, Inc.B |
90,992 | 1,233 | ||||||
Bank of Hawaii Corp. |
30,570 | 1,492 | ||||||
Bank of the Ozarks, Inc. |
381,000 | 16,966 | ||||||
Brookline Bancorp, Inc. |
552,380 | 5,093 | ||||||
Cardinal Financial Corp. |
133,440 | 1,500 | ||||||
Cathay General Bancorp |
215,900 | 3,681 | ||||||
City Holding Co. |
38,700 | 1,320 | ||||||
City National Corp. |
110,293 | 6,299 | ||||||
Columbia Banking System, Inc. |
73,700 | 1,390 | ||||||
Community Bank System, Inc. |
28,300 | 708 | ||||||
CVB Financial Corp.B |
697,773 | 6,796 | ||||||
Dime Community Bancshares, Inc. |
86,415 | 1,336 | ||||||
First Commonwealth Financial Corp. |
288,200 | 1,787 | ||||||
First Financial Bancorp |
647,900 | 10,677 | ||||||
First Financial Holdings, Inc. |
109,600 | 1,203 | ||||||
First Horizon National Corp. |
584,993 | 6,406 | ||||||
First Interstate Bancsystem, Inc. |
296,000 | 4,049 | ||||||
First Midwest Bancorp, Inc. |
328,160 | 4,299 | ||||||
First Niagara Financial Group, Inc. |
165,700 | 2,386 | ||||||
FirstMerit Corp. |
72,750 | 1,271 | ||||||
FNB Corp. |
315,200 | 3,451 | ||||||
Fulton Financial Corp. |
962,355 | 11,240 | ||||||
Hancock Holding Co.B |
318,900 | 10,415 | ||||||
Home Federal Bancorp, Inc. |
171,000 | 2,078 | ||||||
Iberiabank Corp. |
351,400 | 21,089 | ||||||
Lakeland Financial Corp. |
67,550 | 1,480 | ||||||
MB Financial, Inc. |
148,190 | 3,066 | ||||||
National Penn Bancshares, Inc. |
1,025,177 | 8,417 | ||||||
Northwest Bancshares, Inc. |
227,600 | 2,865 | ||||||
Ocwen Financial Corp.A |
650,500 | 7,786 | ||||||
Old National Bancorp |
115,700 | 1,197 | ||||||
PacWest Bancorp |
256,570 | 5,899 | ||||||
Pinnacle Financial Partners, Inc.A B |
73,900 | 1,188 | ||||||
Popular, Inc. |
1,315,500 | 4,144 | ||||||
PrivateBancorp, Inc. |
399,570 | 6,289 | ||||||
Prosperity Bancshares, Inc. |
383,371 | 17,578 | ||||||
Provident Financial Services, Inc. |
471,510 | 6,846 | ||||||
Southwest Bancorp Inc/Stillwater OK |
159,040 | 2,255 | ||||||
Susquehanna Bancshares, Inc. |
243,200 | 2,242 | ||||||
SVB Financial Group |
177,470 | 10,726 | ||||||
Synovus Financial Corp.B |
5,660,100 | 14,150 | ||||||
Territorial Bancorp, Inc. |
6,700 | 134 | ||||||
Washington Federal, Inc. |
81,665 | 1,314 | ||||||
Washington Trust Bancorp, Inc. |
52,370 | 1,227 | ||||||
Webster Financial Corp. |
960,300 | 20,667 | ||||||
WesBanco, Inc. |
66,400 | 1,348 | ||||||
Whitney Holding Corp. |
306,668 | 4,152 | ||||||
Wilmington Trust Corp. |
110,500 | 498 | ||||||
Wintrust Financial Corp. |
31,920 | 1,075 | ||||||
277,312 | ||||||||
Diversified Financials - 5.22% |
||||||||
Apollo Investment Corp. |
126,781 | 1,502 | ||||||
Ares Capital Corp. |
614,400 | 10,881 | ||||||
CapitalSource, Inc. |
888,900 | 5,938 |
7
Shares | Value | |||||||
($000) | ||||||||
Cash America International, Inc.B |
436,638 | 20,718 | ||||||
CoreLogic, Inc. |
388,860 | 7,159 | ||||||
Credit Acceptance Corp.A |
111,050 | 8,984 | ||||||
Duff & Phelps Corp. |
165,840 | 2,552 | ||||||
E*Trade Financial Corp.A |
529,429 | 8,598 | ||||||
Encore Capital Group, Inc.A |
71,400 | 2,138 | ||||||
Ezcorp, Inc. |
898,574 | 28,297 | ||||||
Fifth Street Finance Corp.B |
1,084,200 | 14,452 | ||||||
Heartland Payment Systems, Inc. |
105,400 | 2,104 | ||||||
Investment Technology Group, Inc. |
431,565 | 7,384 | ||||||
Janus Capital Group, Inc. |
1,052,090 | 12,804 | ||||||
Kirklands, Inc.A |
509,900 | 7,694 | ||||||
Knight Capital Group, Inc.A |
821,400 | 11,270 | ||||||
MF Global Holdings Ltd.A |
434,000 | 3,650 | ||||||
MGIC Investment Corp. |
2,376,669 | 20,582 | ||||||
National Financial Partners Corp. |
76,700 | 1,234 | ||||||
Nelnet, Inc. |
172,500 | 3,973 | ||||||
NewStar Financial, Inc.A |
126,900 | 1,516 | ||||||
Piper Jaffray CosA |
148,377 | 5,319 | ||||||
Waddell & Reed Financial, Inc. |
38,380 | 1,574 | ||||||
World Acceptance Corp.A B |
43,000 | 2,922 | ||||||
193,245 | ||||||||
Insurance - 8.33% |
||||||||
Alleghany Corp. |
7,956 | 2,618 | ||||||
Allied World Assurance Co Holdings Ltd. |
116,080 | 7,542 | ||||||
Alterra Capital Holdings Ltd. |
110,400 | 2,427 | ||||||
American Equity Investment Life Holding Co. |
196,100 | 2,522 | ||||||
American Financial Group, Inc. |
221,965 | 7,940 | ||||||
Amtrust Financial Services, Inc. |
223,392 | 4,311 | ||||||
Argo Group International Holdings Ltd. |
221,747 | 6,965 | ||||||
Aspen Insurance Holdings Ltd. |
698,990 | 19,970 | ||||||
CNO Financial Group, Inc.A |
2,000,200 | 16,122 | ||||||
Delphi Financial Group, Inc. |
500,800 | 16,001 | ||||||
Employers Holdings, Inc. |
485,200 | 9,782 | ||||||
Endurance Specialty Holdings Ltd. |
354,000 | 15,696 | ||||||
Enstar Group Ltd.A |
32,603 | 3,656 | ||||||
FBL Financial Group, Inc. |
74,300 | 2,266 | ||||||
First American Financial Corp. |
481,620 | 7,513 | ||||||
Global Indemnity plcA |
622,221 | 15,892 | ||||||
Harleysville Group, Inc. |
74,100 | 2,377 | ||||||
HCC Insurance Holdings, Inc. |
120,570 | 3,923 | ||||||
Horace Mann Educators Corp. |
217,800 | 3,894 | ||||||
Infinity Property & Casualty Corp. |
47,398 | 2,801 | ||||||
Maiden Holdings Ltd. |
180,200 | 1,342 | ||||||
MBIA, Inc.B |
499,600 | 5,156 | ||||||
Meadowbrook Insurance Group, Inc. |
133,100 | 1,363 | ||||||
Montpelier Re Holdings Ltd. |
166,708 | 3,016 | ||||||
National Western Life Insurance Co. |
2,100 | 338 | ||||||
Old Republic International Corp. |
112,900 | 1,430 | ||||||
OneBeacon Insurance Group Ltd. |
44,900 | 631 | ||||||
Platinum Underwriters Holdings Ltd. |
29,135 | 1,102 | ||||||
Primerica, Inc. |
7,100 | 164 | ||||||
ProAssurance Corp.A |
163,700 | 10,870 | ||||||
Protective Life Corp. |
472,045 | 12,703 | ||||||
RenaissanceRe Holdings Ltd. |
55,400 | 3,894 | ||||||
RLI Corp.B |
38,600 | 2,287 | ||||||
Safety Insurance Group, Inc. |
41,100 | 1,924 | ||||||
Selective Insurance Group, Inc. |
133,700 | 2,358 | ||||||
StanCorp Financial Group, Inc. |
431,350 | 18,591 | ||||||
Symetra Financial Corp. |
1,134,400 | 15,745 | ||||||
The Hanover Insurance Group Inc. |
253,740 | 10,713 | ||||||
The Navigators Group Inc.A |
265,123 | 13,741 | ||||||
Torchmark Corp. |
185,700 | 12,427 | ||||||
Tower Group, Inc. |
225,900 | 5,166 | ||||||
Transatlantic Holdings, Inc. |
133,900 | 6,600 | ||||||
Unitrin, Inc. |
114,100 | 3,450 | ||||||
Universal American Corp. |
387,900 | 8,960 | ||||||
Validus Holdings Ltd. |
102,800 | 3,345 | ||||||
White Mountains Insurance Group Ltd. |
18,074 | 6,462 | ||||||
307,996 | ||||||||
Lodging/Resorts - 0.20% |
||||||||
DiamondRock Hospitality Co.C |
626,810 | 7,547 | ||||||
Real Estate - 2.75% |
||||||||
Anworth Mortgage Asset Corp.C |
173,405 | 1,245 | ||||||
BioMed Realty Trust, Inc.C |
432,030 | 8,571 | ||||||
Brandywine Realty TrustC |
118,775 | 1,508 | ||||||
CapLease, Inc.C |
915,800 | 5,128 | ||||||
CBL & Associates Properties, Inc.C |
372,030 | 6,909 | ||||||
CommonWealth REITC |
52,621 | 1,441 | ||||||
DCT Industrial Trust, Inc.C |
1,112,950 | 6,466 | ||||||
Entertainment Properties TrustC |
178,020 | 8,476 | ||||||
Hospitality Properties TrustC |
58,400 | 1,410 | ||||||
Inland Real Estate Corp.C |
541,430 | 5,290 | ||||||
LaSalle Hotel PropertiesC |
293,860 | 8,269 | ||||||
Lexington Realty TrustB C |
859,860 | 8,581 | ||||||
Medical Properties Trust, Inc.C |
118,695 | 1,465 | ||||||
MI Developments, Inc. |
483,900 | 14,833 | ||||||
National Health Investors, Inc.C |
116,410 | 5,661 | ||||||
Omega Healthcare Investors, Inc.B C |
377,750 | 8,674 | ||||||
Pebblebrook Hotel Trust |
214,954 | 4,611 | ||||||
Pennsylvania Real Estate Investment TrustB C |
98,880 | 1,561 | ||||||
Urstadt Biddle Properties, Inc.C |
75,480 | 1,485 | ||||||
101,584 | ||||||||
Total Financials |
887,684 | |||||||
HEALTH CARE - 8.69% |
||||||||
Biotechnology - 0.30% |
||||||||
Charles River Laboratories International,
Inc.A |
40,630 | 1,714 | ||||||
Cubist Pharmaceuticals, Inc.A |
157,800 | 5,341 | ||||||
Viropharma, Inc.A |
214,400 | 4,136 | ||||||
11,191 | ||||||||
Health Care Equipment & Supplies - 1.34% |
||||||||
CONMED Corp.A |
64,200 | 1,803 | ||||||
Haemonetics Corp.A |
151,620 | 10,644 | ||||||
Hillenbrand, Inc. |
165,700 | 3,798 | ||||||
Kensey Nash Corp.A |
12,436 | 308 | ||||||
Kinetic Concepts, Inc.A |
364,600 | 21,521 | ||||||
STERIS Corp. |
319,965 | 11,532 | ||||||
49,606 | ||||||||
Health Care Providers & Services - 6.10% |
||||||||
Air Methods Corp.A |
60,650 | 4,101 | ||||||
Alere, Inc.A |
35,616 | 1,323 | ||||||
Almost Family, Inc.A B |
44,400 | 1,539 | ||||||
Amedisys, Inc.A B |
42,100 | 1,403 | ||||||
AMERIGROUP Corp.A |
387,340 | 26,455 | ||||||
Amsurg Corp.A |
55,175 | 1,482 | ||||||
Assisted Living Concepts, Inc. |
55,711 | 2,009 | ||||||
Centene Corp.A |
389,600 | 14,115 | ||||||
Gentiva Health Services, Inc. |
688,200 | 19,270 | ||||||
Health Net, Inc.A |
262,700 | 8,748 | ||||||
Healthsouth Corp.A |
979,450 | 25,103 | ||||||
Healthspring, Inc.A |
340,080 | 14,110 |
8
Shares | Value | |||||||
($000) | ||||||||
Healthways, Inc.A |
36,500 | 618 | ||||||
LifePoint Hospitals, Inc.A |
845,080 | 35,164 | ||||||
Magellan Health Services, Inc.A |
320,000 | 16,646 | ||||||
MAXIMUS, Inc. |
201,400 | 16,110 | ||||||
Mednax, Inc.A |
143,930 | 10,208 | ||||||
Omnicare, Inc. |
195,200 | 6,133 | ||||||
Omnicell, Inc.A |
348,410 | 5,359 | ||||||
Owens & Minor, Inc. |
43,450 | 1,497 | ||||||
Parexel International Corp.A |
279,730 | 7,765 | ||||||
The Ensign Group Inc. |
26,942 | 745 | ||||||
Triple-S Management Corp., Class BA |
50,200 | 1,051 | ||||||
WellCare Health Plans, Inc.A |
106,300 | 4,657 | ||||||
225,611 | ||||||||
Pharmaceuticals - 0.95% |
||||||||
Endo Pharmaceuticals Holdings, Inc.A |
339,850 | 13,309 | ||||||
Impax Laboratories, Inc.A |
141,500 | 3,874 | ||||||
Medicis Pharmaceutical Corp. |
375,600 | 13,318 | ||||||
Par Pharmaceutical Cos, Inc. |
97,900 | 3,372 | ||||||
PharMerica Corp.A |
98,700 | 1,299 | ||||||
35,172 | ||||||||
Total Health Care |
321,580 | |||||||
INDUSTRIALS - 14.60% |
||||||||
Aerospace & Defense - 1.66% |
||||||||
Alliant Techsystems, Inc. |
267,455 | 18,896 | ||||||
Curtiss-Wright Corp. |
39,407 | 1,310 | ||||||
Huntington Ingalls Industries, Inc.A B |
300,300 | 12,012 | ||||||
Spirit Aerosystems Holdings, Inc.A |
492,360 | 12,112 | ||||||
Triumph Group, Inc. |
113,750 | 9,796 | ||||||
World Fuel Services Corp. |
183,800 | 7,275 | ||||||
61,401 | ||||||||
Airlines - 0.10% |
||||||||
Aircastle Ltd. |
296,411 | 3,693 | ||||||
Building Products - 1.19% |
||||||||
Apogee Enterprises, Inc. |
276,007 | 3,941 | ||||||
Crane Co. |
208,600 | 10,411 | ||||||
Drew Industries, Inc. |
59,260 | 1,426 | ||||||
Griffon Corp.A |
144,551 | 1,842 | ||||||
Insituform Technologies, Inc.A |
400,300 | 10,132 | ||||||
Simpson Manufacturing Co, Inc. |
371,625 | 10,376 | ||||||
Trex Co, Inc.A B |
181,100 | 5,810 | ||||||
43,938 | ||||||||
Commercial Services & Supplies - 5.39% |
||||||||
Atlas Air Worldwide Holdings, Inc.A |
296,590 | 20,437 | ||||||
Clean Harbors, Inc.A |
93,938 | 9,253 | ||||||
Convergys Corp.A |
335,000 | 4,858 | ||||||
Con-way, Inc. |
473,300 | 18,421 | ||||||
CSG Systems International, Inc.A |
102,600 | 2,179 | ||||||
Deluxe Corp. |
141,000 | 3,818 | ||||||
Ennis, Inc. |
88,500 | 1,653 | ||||||
FTI Consulting, Inc.A |
242,450 | 9,674 | ||||||
G&K Services, Inc. |
51,320 | 1,699 | ||||||
Global Payments, Inc. |
44,800 | 2,385 | ||||||
Heidrick & Struggles International, Inc. |
407,680 | 9,540 | ||||||
Herman Miller, Inc. |
458,000 | 11,917 | ||||||
Hudson Highland Group, Inc.A |
630,300 | 3,801 | ||||||
Huron Consulting Group, Inc.A |
121,982 | 3,513 | ||||||
Insperity, Inc. |
212,800 | 6,446 | ||||||
Kelly Services, Inc. |
139,800 | 2,672 | ||||||
Korn/Ferry InternationalA |
550,860 | 11,408 | ||||||
Layne Christensen Co.A |
40,100 | 1,193 | ||||||
McGrath Rentcorp |
114,828 | 3,260 | ||||||
Mobile Mini, Inc.A |
623,100 | 15,521 | ||||||
PHH Corp.A B |
757,900 | 16,265 | ||||||
Steelcase, Inc. |
551,632 | 6,371 | ||||||
Team, Inc. |
107,364 | 2,679 | ||||||
Tetra Tech, Inc.A |
237,110 | 5,601 | ||||||
The Brinks Co. |
392,940 | 12,971 | ||||||
The Geo Group IncA |
133,935 | 3,573 | ||||||
United Stationers, Inc. |
110,200 | 7,941 | ||||||
199,049 | ||||||||
Construction & Engineering - 1.54% |
||||||||
Aecom Technology Corp.A |
296,200 | 8,074 | ||||||
Comfort Systems USA, Inc. |
765,215 | 9,343 | ||||||
EMCOR Group, Inc.A |
552,975 | 17,126 | ||||||
Granite Construction, Inc.B |
260,520 | 7,081 | ||||||
Tutor Perini Corp. |
577,650 | 15,400 | ||||||
57,024 | ||||||||
Diversified Manufacturing - 0.04% |
||||||||
Barnes Group, Inc. |
66,355 | 1,642 | ||||||
Electrical Equipment - 0.96% |
||||||||
EnerSysA |
43,720 | 1,657 | ||||||
General Cable Corp. |
54,480 | 2,642 | ||||||
GT Solar International, Inc.A B |
399,000 | 4,457 | ||||||
Kemet Corp.A |
81,600 | 1,284 | ||||||
Regal-Beloit Corp. |
189,500 | 14,361 | ||||||
SunPower Corp.A B |
123,600 | 2,691 | ||||||
Thomas & Betts Corp. |
114,940 | 6,663 | ||||||
Vishay Precision Group, Inc.A |
108,414 | 1,789 | ||||||
35,544 | ||||||||
Energy Equipment & Services - 0.05% |
||||||||
Hornbeck Offshore Services, Inc.A |
66,100 | 1,932 | ||||||
Industrial Conglomerates - 0.46% |
||||||||
Carlisle Cos, Inc. |
121,880 | 6,038 | ||||||
GATX Corp. |
226,280 | 9,565 | ||||||
Teleflex, Inc. |
25,120 | 1,583 | ||||||
17,186 | ||||||||
Machinery - 2.11% |
||||||||
Astec Industries, Inc.A |
170,510 | 6,612 | ||||||
Briggs & Stratton Corp. |
73,105 | 1,725 | ||||||
CIRCOR International, Inc. |
136,700 | 6,210 | ||||||
Columbus McKinnon Corp. |
160,130 | 3,203 | ||||||
Esterline Technologies Corp. |
70,950 | 5,094 | ||||||
FreightCar America, Inc. |
59,150 | 1,773 | ||||||
John Bean Technologies Corp. |
64,300 | 1,300 | ||||||
Miller Industries, Inc. |
231,100 | 3,656 | ||||||
Mueller Industries, Inc. |
168,370 | 6,587 | ||||||
Oshkosh Corp. |
286,400 | 9,067 | ||||||
Reliance Steel & Aluminum Co. |
26,300 | 1,489 | ||||||
RSC Holdings, Inc.A B |
388,170 | 5,112 | ||||||
Terex Corp. |
754,300 | 26,234 | ||||||
78,062 | ||||||||
Marine - 0.65% |
||||||||
Diana Shipping, Inc. |
119,980 | 1,351 | ||||||
Genco Shipping & Trading Ltd.B |
952,150 | 7,989 | ||||||
Gulfmark Offshore, Inc.A |
71,962 | 3,063 | ||||||
Kirby Corp. |
202,600 | 11,504 | ||||||
23,907 | ||||||||
Road & Rail - 0.45% |
||||||||
Amerco, Inc.A |
58,800 | 5,981 | ||||||
Heartland Express, Inc. |
216,540 | 3,735 | ||||||
Marten Transport Ltd. |
113,049 | 2,528 |
9
Shares | Value | |||||||
($000) | ||||||||
Ryder System, Inc. |
26,440 | 1,415 | ||||||
Saia, Inc.A |
174,900 | 2,903 | ||||||
16,562 | ||||||||
Total Industrials |
539,940 | |||||||
INFORMATION TECHNOLOGY - 13.77% |
||||||||
Communications Equipment - 1.34% |
||||||||
Arris Group, Inc.A |
1,061,932 | 12,743 | ||||||
Black Box Corp. |
417,700 | 14,594 | ||||||
InterDigital, Inc.B |
446,300 | 20,660 | ||||||
Plantronics, Inc. |
39,150 | 1,451 | ||||||
49,448 | ||||||||
Computers & Peripherals - 1.15% |
||||||||
Avid Technology, Inc.A |
105,450 | 1,959 | ||||||
Electronics for Imaging, Inc.A |
330,700 | 5,939 | ||||||
Lexmark International, Inc.A |
242,810 | 7,831 | ||||||
Mercury Computer Systems, Inc.A |
351,300 | 6,784 | ||||||
NCR Corp.A |
82,899 | 1,642 | ||||||
Sigma Designs, Inc.A B |
299,800 | 3,825 | ||||||
Synaptics, Inc.A B |
511,985 | 14,551 | ||||||
42,531 | ||||||||
Electronic Equipment & Instruments - 3.37% |
||||||||
AVX Corp. |
459,000 | 7,486 | ||||||
Diebold, Inc. |
374,990 | 12,675 | ||||||
Ingram Micro, Inc.A |
779,200 | 14,594 | ||||||
Littelfuse, Inc. |
281,600 | 17,519 | ||||||
Methode Electronics, Inc. |
754,800 | 9,329 | ||||||
Plexus Corp.A |
419,900 | 15,322 | ||||||
Tech Data Corp.A |
239,600 | 12,730 | ||||||
Veeco Instruments, Inc.A B |
96,400 | 4,929 | ||||||
Vishay Intertechnology, Inc.A |
1,584,800 | 30,239 | ||||||
124,823 | ||||||||
Internet Software & Services - 1.20% |
||||||||
Earthlink, Inc. |
613,500 | 5,043 | ||||||
Ebix, Inc.A B |
724,000 | 16,543 | ||||||
IAC/InterActiveCorpA |
427,600 | 15,441 | ||||||
Netgear, Inc.A |
36,010 | 1,503 | ||||||
RealNetworks, Inc.A |
142,400 | 527 | ||||||
Websense, Inc.A |
203,916 | 5,259 | ||||||
44,316 | ||||||||
IT Consulting & Services - 1.49% |
||||||||
CACI International, Inc.A |
274,730 | 16,789 | ||||||
Ciber, Inc.A |
399,800 | 2,287 | ||||||
Mantech International Corp. |
161,600 | 7,093 | ||||||
Ness Technologies, Inc.A |
756,000 | 4,929 | ||||||
SYNNEX Corp.A |
633,700 | 21,247 | ||||||
Unisys Corp. |
93,400 | 2,772 | ||||||
55,117 | ||||||||
Semiconductor Equipment & Products - 2.99% |
||||||||
Advanced Energy Industries, Inc.A |
45,600 | 645 | ||||||
Amkor Technology, Inc.A B |
682,988 | 4,576 | ||||||
Applied Micro Circuits Corp.A |
300,980 | 3,154 | ||||||
ATMI, Inc.A |
72,500 | 1,443 | ||||||
Brooks Automation, Inc.A |
1,424,080 | 17,417 | ||||||
Cymer, Inc.A |
149,460 | 7,191 | ||||||
Entegris, Inc.A |
362,700 | 3,130 | ||||||
Entropic Communications, Inc.A B |
1,280,160 | 11,214 | ||||||
Fairchild Semiconductor International, Inc.A |
329,500 | 6,910 | ||||||
Kulicke & Soffa Industries, Inc.A |
177,400 | 1,607 | ||||||
Lattice Semiconductor Corp.A |
313,500 | 2,129 | ||||||
Microsemi Corp. |
59,235 | 1,398 | ||||||
MKS Instruments, Inc. |
138,400 | 3,928 | ||||||
Novellus Systems, Inc.A |
231,970 | 7,446 | ||||||
PMC Sierra, Inc. |
181,375 | 1,455 | ||||||
QLogic Corp.A |
415,483 | 7,470 | ||||||
RF Micro Devices, Inc.A |
600,500 | 3,999 | ||||||
Teradyne, Inc.A |
490,600 | 7,899 | ||||||
Tessera Technologies, Inc.A |
646,350 | 12,772 | ||||||
TriQuint Semiconductor, Inc.A |
340,470 | 4,688 | ||||||
110,471 | ||||||||
Software - 2.23% |
||||||||
Aspen Technology, Inc.A |
403,990 | 6,056 | ||||||
Cadence Design Systems, Inc.A |
574,270 | 5,961 | ||||||
Cognex Corp. |
620,740 | 19,417 | ||||||
DST Systems, Inc. |
156,220 | 7,703 | ||||||
FARO Technologies, Inc.A |
167,500 | 7,231 | ||||||
JDA Software Group, Inc.A |
391,146 | 12,818 | ||||||
Mentor Graphics Corp. |
1,184,700 | 17,474 | ||||||
Net 1 UEPS Technologies, Inc.A |
665 | 6 | ||||||
Netscout Systems, Inc.A |
226,660 | 5,800 | ||||||
82,466 | ||||||||
Total Information Technology |
509,172 | |||||||
MATERIALS - 5.77% |
||||||||
Chemicals - 2.19% |
||||||||
A Schulman, Inc. |
48,200 | 1,220 | ||||||
Arch Chemicals, Inc. |
62,700 | 2,425 | ||||||
Cabot Corp. |
177,400 | 7,956 | ||||||
HB Fuller Co. |
100,600 | 2,198 | ||||||
Innophos Holdings, Inc. |
39,800 | 1,844 | ||||||
Kraton Performance Polymers, Inc.A |
66,400 | 3,065 | ||||||
NewMarket Corp. |
39,200 | 7,225 | ||||||
OM Group, Inc. |
424,685 | 15,391 | ||||||
PolyOne Corp. |
1,531,400 | 22,174 | ||||||
Solutia, Inc.A |
324,000 | 8,537 | ||||||
Stepan Co.B |
26,700 | 1,922 | ||||||
The Scotts Miracle-Gro Co. |
20,110 | 1,136 | ||||||
WR Grace & CoA |
131,100 | 5,947 | ||||||
81,040 | ||||||||
Construction Materials - 0.03% |
||||||||
Ameron International Corp. |
14,910 | 1,049 | ||||||
Containers & Packaging - 1.00% |
||||||||
Boise, Inc. |
233,000 | 2,288 | ||||||
Greif, Inc. |
205,100 | 12,738 | ||||||
Jarden Corp. |
235,455 | 8,568 | ||||||
Packaging Corp of America |
206,840 | 5,901 | ||||||
Rock-Tenn Co.B |
107,000 | 7,390 | ||||||
36,885 | ||||||||
Metals & Mining - 2.05% |
||||||||
AMCOL International Corp. |
91,770 | 3,416 | ||||||
Carpenter Technology Corp. |
176,220 | 9,033 | ||||||
Century Aluminum Co. |
157,600 | 3,149 | ||||||
Coeur dAlene Mines Corp. |
529,000 | 16,775 | ||||||
Gammon Gold, Inc.A |
174,453 | 1,903 | ||||||
Gibraltar Industries, Inc. |
433,339 | 5,061 | ||||||
James River Coal Co.A |
139,823 | 3,261 | ||||||
Kaiser Aluminum Corp.B |
87,200 | 4,370 | ||||||
Minefinders Corp.A B |
77,966 | 1,307 | ||||||
New Gold, Inc.A |
55,094 | 617 | ||||||
Noranda Aluminum Holding Corp.A |
1,121,900 | 19,061 | ||||||
RTI International Metals, Inc. |
75,300 | 2,405 | ||||||
Thompson Creek Metals Co, Inc.A |
109,320 | 1,348 | ||||||
Universal Stainless & AlloyA |
82,300 | 2,983 |
10
Shares | Value | |||||||
($000) | ||||||||
Worthington Industries, Inc. |
60,238 | 1,299 | ||||||
75,988 | ||||||||
Paper & Forest Products - 0.50% |
||||||||
Domtar Corp. |
78,600 | 7,311 | ||||||
Louisiana-Pacific Corp. |
965,430 | 8,979 | ||||||
PH Glatfelter Co. |
61,800 | 840 | ||||||
Wausau Paper Corp. |
222,810 | 1,504 | ||||||
18,634 | ||||||||
Total Materials |
213,596 | |||||||
TELECOMMUNICATION SERVICES - 0.19% |
||||||||
EchoStar Corp.A |
99,700 | 3,697 | ||||||
Loral Space & Communications, Inc.A |
46,000 | 3,215 | ||||||
Total Telecommunication Services |
6,912 | |||||||
UTILITIES - 4.95% |
||||||||
Electric Utilities - 3.39% |
||||||||
Allete, Inc. |
38,490 | 1,558 | ||||||
Black Hills Corp. |
105,100 | 3,652 | ||||||
El Paso Electric Co. |
375,270 | 11,626 | ||||||
Great Plains Energy, Inc. |
1,250,300 | 25,731 | ||||||
Hawaiian Electric Industries, Inc. |
312,620 | 7,969 | ||||||
IDACORP, Inc. |
189,280 | 7,422 | ||||||
NorthWestern Corp. |
329,130 | 10,713 | ||||||
NV Energy, Inc. |
582,503 | 8,848 | ||||||
Otter Tail Corp. |
32,413 | 758 | ||||||
PNM Resources, Inc. |
667,004 | 10,225 | ||||||
Portland General Electric Co. |
1,046,494 | 26,120 | ||||||
TECO Energy, Inc. |
19,335 | 373 | ||||||
The Empire District Electric Co. |
297,900 | 6,685 | ||||||
Unisource Energy Corp. |
100,100 | 3,717 | ||||||
125,397 | ||||||||
Gas Utilities - 0.98% |
||||||||
AGL Resources, Inc. |
132,200 | 5,488 | ||||||
Atmos Energy Corp. |
301,440 | 10,516 | ||||||
Southern Union Co. |
174,200 | 5,209 | ||||||
Southwest Gas Corp. |
61,300 | 2,438 | ||||||
UGI Corp. |
175,000 | 5,828 | ||||||
WGL Holdings, Inc. |
170,520 | 6,739 | ||||||
36,218 | ||||||||
Multi-Utilities - 0.58% |
||||||||
Avista Corp. |
155,500 | 3,786 | ||||||
Vectren Corp. |
49,640 | 1,419 | ||||||
Westar Energy, Inc. |
603,200 | 16,413 | ||||||
21,618 | ||||||||
Total Utilities |
183,233 | |||||||
Total Common Stock (Cost $2,709,847) |
3,483,179 | |||||||
Shares | ||||||||
SHORT-TERM INVESTMENTS- 5.41% |
||||||||
American Beacon U.S. Government Money Market
Select Fund D |
20,000,000 | 20,000 | ||||||
JPMorgan U.S. Government Money Market Fund |
180,247,178 | 180,247 | ||||||
Total Short-Term Investments
(Cost $200,247) |
200,247 | |||||||
SECURITIES LENDING COLLATERAL - 5.75% |
||||||||
American Beacon U.S. Government Money Market
Select FundD |
198,915,754 | 198,916 | ||||||
Wells Fargo Advantage Government Money Market Fund |
13,659,140 | 13,659 | ||||||
Total Securities Lending
Collateral(Cost $212,575) |
212,575 | |||||||
TOTAL INVESTMENTS - 105.33% (Cost $3,122,669) |
3,896,001 | |||||||
LIABILITIES, NET OF OTHER ASSETS (5.33%) |
(197,279 | ) | ||||||
TOTAL NET ASSETS - 100.00% |
$ | 3,698,722 | ||||||
Percentages are stated as a percent of net assets. |
A | Non-income producing security. | |
B | All or a portion of this security is on loan at April 30, 2011. | |
C | REIT | |
D | The Fund is affiliated by having the same investment advisor. |
11
Unrealized | ||||||||||||||||
Appreciation/ | ||||||||||||||||
Number of Contracts | Expiration Date | Value | (Depreciation) | |||||||||||||
Russell 2000 Mini Index Future |
4,836 | June, 2011 | 208,891 | 10,330 | ||||||||||||
208,891 | 10,330 | |||||||||||||||
12
Assets: |
||||
Investments in unaffiliated securities, at value A C |
$ | 3,697,085 | ||
Investments in affiliated securities, at value B |
198,916 | |||
Cash |
16 | |||
Deposit with brokers for futures contracts |
7,473 | |||
Receivable for investments sold |
23,898 | |||
Dividends and interest receivable |
855 | |||
Receivable for fund shares sold |
5,317 | |||
Receivable for variation margin on open futures contracts |
1,176 | |||
Prepaid expenses |
72 | |||
Total assets |
3,934,808 | |||
Liabilities: |
||||
Payable for investments purchased |
17,426 | |||
Payable upon return of securities loaned |
212,575 | |||
Payable for fund shares redeemed |
3,577 | |||
Management and investment advisory fees payable (Note 2) |
1,197 | |||
Administrative service and service fees payable (Note 2) |
1,050 | |||
Professional fees payable |
12 | |||
Other liabilities |
249 | |||
Total liabilities |
236,086 | |||
Net assets |
$ | 3,698,722 | ||
Analysis of Net Assets: |
||||
Paid-in-capital |
3,146,714 | |||
Undistributed net investment income |
2,629 | |||
Accumulated net realized loss |
(234,283 | ) | ||
Unrealized appreciation of investments, futures contracts, and foreign currency |
783,662 | |||
Net assets |
$ | 3,698,722 | ||
Shares outstanding (no par value): |
||||
Institutional Class |
90,194,064 | |||
Y Class |
145,689 | |||
Investor Class |
56,767,402 | |||
Advisor Class |
1,817,775 | |||
Retirement Class |
36,424 | |||
AMR Class |
21,438,462 | |||
A Class |
35,718 | |||
C Class |
14,087 | |||
Net asset value, offering and redemption price per share: |
||||
Institutional Class |
$ | 21.91 | ||
Y Class |
$ | 21.81 | ||
Investor Class |
$ | 21.34 | ||
Advisor Class |
$ | 21.26 | ||
Retirement Class |
$ | 21.12 | ||
AMR Class |
$ | 21.82 | ||
A Class (net asset value and redemption price) |
$ | 21.33 | ||
A Class (offering price) |
$ | 22.63 | ||
C Class |
$ | 21.25 | ||
A Cost of investments in unaffiliated securities |
$ | 2,923,753 | ||
B Cost of investments in affiliated securities |
$ | 198,916 | ||
C Market value of securities on loan |
$ | 207,711 |
13
Investment Income: |
||||
Dividend income from unaffiliated securities (net of foreign taxes)* |
$ | 21,461 | ||
Dividend income from affiliated securities |
6 | |||
Interest income |
6 | |||
Income derived from securities lending, net |
262 | |||
Total investment income |
21,735 | |||
Expenses: |
||||
Management and investment advisory fees (Note 2) |
7,229 | |||
Administrative service fees (Note 2): |
||||
Institutional Class |
2,622 | |||
Y Class |
3 | |||
Investor Class |
1,600 | |||
Advisor Class |
54 | |||
Retirement Class |
1 | |||
AMR Class |
104 | |||
A Class |
1 | |||
Transfer agent fees: |
||||
Institutional Class |
41 | |||
Investor Class |
27 | |||
Advisor Class |
1 | |||
AMR Class |
16 | |||
Custody and fund accounting fees |
187 | |||
Professional fees |
78 | |||
Registration fees and expenses |
61 | |||
Service fees (Note 2): |
||||
Y Class |
1 | |||
Investor Class |
1,930 | |||
Advisor Class |
45 | |||
Retirement Class |
1 | |||
Distribution fees (Note 2): |
||||
Advisor Class |
45 | |||
Retirement Class |
1 | |||
Prospectus and shareholder reports |
177 | |||
Insurance fees |
34 | |||
Trustee fees |
107 | |||
Other expenses |
91 | |||
Total expenses |
14,457 | |||
Net investment income |
7,278 | |||
Realized and unrealized gain (loss) on investments: |
||||
Net realized gain (loss) from: |
||||
Investments |
182,077 | |||
Commission recapture (Note 1) |
59 | |||
Futures contracts |
38,189 | |||
Change in net unrealized appreciation or depreciation of: |
||||
Investments |
433,751 | |||
Futures contracts |
2,805 | |||
Net gain on investments |
656,881 | |||
Net increase in net assets resulting from operations |
$ | 664,159 | ||
* Foreign taxes |
$ | 16 |
14
Six Months | Year Ended | |||||||
Ended | October 31, | |||||||
April 30, 2011 | 2010 | |||||||
(unaudited) | ||||||||
Increase (Decrease) in Net Assets: |
||||||||
Operations: |
||||||||
Net investment income |
$ | 7,278 | $ | 11,136 | ||||
Net realized gain on investments, futures contracts, and
foreign currency transactions |
220,325 | 179,781 | ||||||
Change in net unrealized appreciation of investments, futures
contracts, and foreign currency translations |
436,556 | 296,564 | ||||||
Net increase in net assets resulting from operations |
664,159 | 487,481 | ||||||
Distributions to Shareholders: |
||||||||
Net investment income: |
||||||||
Institutional Class |
(7,510 | ) | (6,896 | ) | ||||
Y Class |
(4 | ) | | |||||
Investor Class |
(3,709 | ) | (2,275 | ) | ||||
Advisor Class |
(117 | ) | | |||||
Retirement Class |
(1 | ) | | |||||
AMR Class |
(2,000 | ) | (2,187 | ) | ||||
Net distributions to shareholders |
(13,341 | ) | (11,358 | ) | ||||
Capital Share Transactions: |
||||||||
Proceeds from sales of shares |
583,649 | 942,144 | ||||||
Reinvestment of dividends and distributions |
13,190 | 11,249 | ||||||
Cost of shares redeemed |
(285,081 | ) | (752,815 | ) | ||||
Net increase in net assets from capital share transactions |
311,758 | 200,578 | ||||||
Net increase in net assets |
962,576 | 676,701 | ||||||
Net Assets: |
||||||||
Beginning of period |
2,736,146 | 2,059,445 | ||||||
End of Period * |
$ | 3,698,722 | $ | 2,736,146 | ||||
* Includes undistributed net investment income of |
$ | 2,629 | $ | 8,788 | ||||
15
Class: | Offered to: | |
Institutional Class
|
Investors making an initial investment of $250,000 | |
Y Class
|
Investors making an initial investment of $100,000 | |
Investor Class
|
General public and investors investing through an intermediary | |
Advisor Class
|
Investors investing through an intermediary | |
Retirement Class
|
Investors investing through an intermediary | |
AMR Class
|
Investors in the tax-exempt retirement and benefit plans of the Manager, AMR Corporation, and its affiliates | |
A Class
|
General public and investors investing through an intermediary with applicable sales charge | |
C Class
|
General public and investors investing through an intermediary with applicable sales charge |
16
Level 1 | Quoted prices in active markets for identical securities. | ||
Level 2 | Prices determined using other significant observable inputs. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, and others. | ||
Level 3 | Prices determined using other significant unobservable inputs. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in pricing an investment, and would be based on the best information available. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks |
$ | 3,483,179 | $ | | $ | | $ | 3,483,179 | ||||||||
Short-Term Investments |
200,247 | | | 200,247 | ||||||||||||
Securities Lending Collateral |
212,575 | | | 212,575 | ||||||||||||
Total Investments in Securities |
$ | 3,896,001 | $ | | $ | | $ | 3,896,001 | ||||||||
Futures Contracts |
10,330 | | | 10,330 |
17
Liability | ||||||
Statement of Assets and Liabilities | Derivatives | Fair Value | ||||
Unrealized appreciation of investments, futures contracts, and foreign currency
|
Equity Contracts* | $ | 10,330 |
Statement of Operations | Derivative | Fair Value | ||||||
Net realized gain (loss) from futures contracts |
Equity Contracts | $ | 38,189 | |||||
Change in net unrealized appreciation or depreciation of futures contracts |
Equity Contracts | $ | 2,805 |
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedule of Investments footnotes. Only current days variation margin is reported within the Statement of Assets and Liabilities. |
18
Amounts paid to | ||||||||||||
Management Fee Rate | Management Fee | Investment Advisors | Net Amounts Retained by Manager | |||||||||
0.30%-0.55%
|
$ | 7,229 | $ | 6,412 | $ | 817 |
19
20
Six Months Ended | Year Ended | |||||||
April 30, | October 31, | |||||||
2011 | 2010 | |||||||
(unaudited) | ||||||||
Distributions paid from: |
||||||||
Ordinary income* |
||||||||
Institutional Class |
$ | 7,510 | $ | 6,896 | ||||
Y Class |
4 | | ||||||
Investor Class |
3,709 | 2,275 | ||||||
Advisor Class |
117 | | ||||||
Retirement Class |
1 | | ||||||
AMR Class |
2,000 | 2,187 | ||||||
Total distributions paid |
$ | 13,341 | $ | 11,358 | ||||
* | For tax purposes, short-term capital gains are considered ordinary income distributions. |
Cost basis of investments for federal income tax purposes |
$ | 3,169,431 | ||
Unrealized appreciation |
802,109 | |||
Unrealized depreciation |
(75,539 | ) | ||
Net unrealized appreciation/(depreciation) |
726,570 | |||
Undistributed ordinary income |
(179 | ) | ||
Undistributed long-term gain/(loss) |
(184,713 | ) | ||
Undistributed long-term gain/(loss) |
10,330 | |||
Distributable earnings |
$ | 552,008 | ||
Paid-in-capital |
$ | 169 | ||
Undistributed net investment income |
(96 | ) | ||
Accumulated net realized gain (loss) |
(73 | ) | ||
Unrealized appreciation (depreciation) of investments, futures contracts and foreign currency |
|
21
October 31, 2010 | April 30, 2011 | |||||||||||||||
Affiliate | Shares/Market Value | Purchases | Sales | Shares/Market Value | ||||||||||||
Direct |
$ | | $ | 20,000 | $ | | $ | 20,000 | ||||||||
Security Lending |
48,791 | 389,824 | 239,699 | 198,916 |
22
Market Value of Securities on Loan | Non-Cash Collateral | Cash Collateral Posted by Borrower | ||
$ 207,711 | $ | $ 212,575 |
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold |
14,117 | $ | 287,546 | 100 | $ | 2,102 | 9,825 | $ | 195,490 | 354 | $ | 6,972 | ||||||||||||||||||||
Reinvestment of dividends |
372 | 7,454 | | 5 | 185 | 3,613 | 6 | 117 | ||||||||||||||||||||||||
Shares redeemed |
(6,702 | ) | (137,406 | ) | (7 | ) | (154 | ) | (5,639 | ) | (111,289 | ) | (405 | ) | (8,070 | ) | ||||||||||||||||
Net increase (decrease)
in shares outstanding |
7,787 | $ | 157,594 | 93 | $ | 1,953 | 4,371 | $ | 87,814 | (45 | ) | $ | (981 | ) | ||||||||||||||||||
Retirement Class | AMR Class | A Class | C Class | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold |
21 | $ | 419 | 4,686 | $ | 90,100 | 36 | $ | 736 | 14 | $ | 284 | ||||||||||||||||||||
Reinvestment of dividends |
| 1 | 100 | 2,000 | | | | | ||||||||||||||||||||||||
Shares redeemed |
(5 | ) | (99 | ) | (1,407 | ) | (28,034 | ) | (1 | ) | (28 | ) | | (1 | ) | |||||||||||||||||
Net increase (decrease)
in shares outstanding |
16 | $ | 321 | 3,379 | $ | 64,066 | 35 | $ | 708 | 14 | $ | 283 | ||||||||||||||||||||
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold |
26,437 | $ | 442,447 | 98 | $ | 1,732 | 15,077 | $ | 249,419 | 937 | $ | 15,835 | ||||||||||||||||||||
Reinvestment of dividends |
431 | 6,838 | | | 143 | 2,224 | | | ||||||||||||||||||||||||
Shares redeemed |
(16,704 | ) | (273,902 | ) | (46 | ) | (788 | ) | (14,033 | ) | (226,469 | ) | (1,102 | ) | (17,989 | ) | ||||||||||||||||
Net increase (decrease)
in shares outstanding |
10,074 | $ | 175,383 | 52 | $ | 944 | 1,187 | $ | 25,174 | (165 | ) | $ | (2,154 | ) | ||||||||||||||||||
Retirement Class | AMR Class | A Class | C Class | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold |
22 | $ | 390 | 13,750 | $ | 232,298 | 1 | $ | 17 | | $ | 6 | ||||||||||||||||||||
Reinvestment of dividends |
| | 138 | 2,187 | | | | | ||||||||||||||||||||||||
Shares redeemed |
(1 | ) | (25 | ) | (14,762 | ) | (233,642 | ) | | | | | ||||||||||||||||||||
Net increase (decrease)
in shares outstanding |
21 | $ | 365 | (874 | ) | $ | 843 | 1 | $ | 17 | | $ | 6 | |||||||||||||||||||
23
Institutional Class | Y Class | |||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||
April 30,F | Year Ended October 31, | April 30,F | ||||||||||||||||||||||||||||||
2011F | 2010 | 2009 | 2008 | 2007 | 2006 | 2011F | 2010 | |||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 17.84 | $ | 14.39 | $ | 12.53 | $ | 22.10 | $ | 22.53 | $ | 20.43 | $ | 17.76 | $ | 14.37 | ||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||
Net investment income |
0.05 | 0.08 | 0.10 | 0.25 | 0.22 | 0.19 | 0.04 | 0.14 | ||||||||||||||||||||||||
Net gains (losses) on securities (both
realized and unrealized) |
4.11 | 3.46 | 1.96 | (7.13 | ) | 1.10 | 2.94 | 4.09 | 3.36 | |||||||||||||||||||||||
Total income (loss) from investment operations |
4.16 | 3.54 | 2.06 | (6.88 | ) | 1.32 | 3.13 | 4.13 | 3.50 | |||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.09 | ) | (0.09 | ) | (0.20 | ) | (0.22 | ) | (0.19 | ) | (0.14 | ) | (0.08 | ) | (0.11 | ) | ||||||||||||||||
Distributions from net realized gains on
securities |
| | | (2.47 | ) | (1.56 | ) | (0.89 | ) | | | |||||||||||||||||||||
Total distributions |
(0.09 | ) | (0.09 | ) | (0.20 | ) | (2.69 | ) | (1.75 | ) | (1.03 | ) | (0.08 | ) | (0.11 | ) | ||||||||||||||||
Net asset value, end of period |
$ | 21.91 | $ | 17.84 | $ | 14.39 | $ | 12.53 | $ | 22.10 | $ | 22.53 | $ | 21.81 | $ | 17.76 | ||||||||||||||||
Total return A,B |
23.36 | %C | 24.71 | % | 16.97 | % | (34.84 | )% | 6.10 | % | 15.80 | % | 23.30 | %C | 24.44 | % | ||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 1,975,777 | $ | 1,470,084 | $ | 1,040,805 | $ | 826,232 | $ | 1,413,734 | $ | 1,319,024 | $ | 3,177 | $ | 931 | ||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||
Expenses, net of waivers |
0.79 | % | 0.81 | % | 0.84 | % | 0.81 | % | 0.80 | % | 0.82 | % | 0.90 | % | 0.91 | % | ||||||||||||||||
Expenses before waivers |
0.79 | % | 0.81 | % | 0.84 | % | 0.81 | % | 0.80 | % | 0.82 | % | 0.90 | % | 0.91 | % | ||||||||||||||||
Net investment income (loss), net
of waivers |
0.54 | % | 0.52 | % | 0.87 | % | 1.36 | % | 0.94 | % | 0.83 | % | 0.31 | % | 0.39 | % | ||||||||||||||||
Net investment income (loss),
before waivers |
0.54 | % | 0.52 | % | 0.87 | % | 1.36 | % | 0.94 | % | 0.83 | % | 0.31 | % | 0.39 | % | ||||||||||||||||
Portfolio turnover rate |
26 | %C | 59 | % | 61 | % | 62 | % | 52 | % | 48 | % | 26 | %C | 59 | % |
A | May include adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net assets for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. | |
B | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
C | Not annualized. | |
D | Annualized. | |
E | Portfolio turnover rate is for the period from November 1, 2008 through October 31, 2009. | |
F | On November 30, 2010 Metropolitan West Capital Management, LLC was terminated and ceased managing assets of the Small Cap Value Fund. |
24
Investor Class | Advisor Class | ||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
August 03 to | April 30, | Year Ended October 31, | April 30, | Year Ended October 31, | |||||||||||||||||||||||||||||||||||||||||||
October 31, 2009 | 2011F | 2010 | 2009 | 2008 | 2007 | 2006 | 2011F | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||
$ | 14.03 | $ | 17.40 | $ | 14.05 | $ | 12.22 | $ | 21.62 | $ | 22.08 | $ | 20.04 | $ | 17.33 | $ | 13.97 | $ | 12.13 | $ | 21.46 | $ | 21.94 | ||||||||||||||||||||||||
0.00 | 0.02 | 0.03 | 0.08 | 0.20 | 0.16 | 0.13 | 0.00 | 0.01 | 0.06 | 0.16 | 0.10 | ||||||||||||||||||||||||||||||||||||
0.34 | 3.99 | 3.37 | 1.91 | (6.97 | ) | 1.07 | 2.89 | 3.99 | 3.35 | 1.90 | (6.93 | ) | 1.07 | ||||||||||||||||||||||||||||||||||
0.34 | 4.01 | 3.40 | 1.99 | (6.77 | ) | 1.23 | 3.02 | 3.99 | 3.36 | 1.96 | (6.77 | ) | 1.17 | ||||||||||||||||||||||||||||||||||
| (0.07 | ) | (0.05 | ) | (0.16 | ) | (0.16 | ) | (0.13 | ) | (0.09 | ) | (0.06 | ) | | (0.12 | ) | (0.09 | ) | (0.09 | ) | ||||||||||||||||||||||||||
| | | | (2.47 | ) | (1.56 | ) | (0.89 | ) | | | | (2.47 | ) | (1.56 | ) | |||||||||||||||||||||||||||||||
| (0.07 | ) | (0.05 | ) | (0.16 | ) | (2.63 | ) | (1.69 | ) | (0.98 | ) | (0.06 | ) | | (0.12 | ) | (2.56 | ) | (1.65 | ) | ||||||||||||||||||||||||||
$ | 14.37 | $ | 21.34 | $ | 17.40 | $ | 14.05 | $ | 12.22 | $ | 21.62 | $ | 22.08 | $ | 21.26 | $ | 17.33 | $ | 13.97 | $ | 12.13 | $ | 21.46 | ||||||||||||||||||||||||
2.42 | % | 23.08 | %C | 24.21 | % | 16.59 | % | (35.04 | )% | 5.83 | % | 15.56 | % | 23.07 | %C | 24.05 | % | 16.41 | % | (35.19 | )% | 5.55 | % | ||||||||||||||||||||||||
$ | 1 | $ | 1,211,430 | $ | 911,737 | $ | 719,239 | $ | 699,670 | $ | 1,316,188 | $ | 1,333,814 | $ | 38,639 | $ | 32,295 | $ | 28,333 | $ | 33,479 | $ | 69,112 | ||||||||||||||||||||||||
1.11 | %D | 1.15 | % | 1.18 | % | 1.15 | % | 1.06 | % | 1.05 | % | 1.06 | % | 1.29 | % | 1.32 | % | 1.31 | % | 1.31 | % | 1.32 | % | ||||||||||||||||||||||||
1.11 | %D | 1.15 | % | 1.18 | % | 1.15 | % | 1.06 | % | 1.05 | % | 1.06 | % | 1.29 | % | 1.32 | % | 1.34 | % | 1.31 | % | 1.32 | % | ||||||||||||||||||||||||
0.03 | %D | 0.18 | % | 0.17 | % | 0.59 | % | 1.12 | % | 0.70 | % | 0.59 | % | 0.05 | % | 0.03 | % | 0.48 | % | 0.86 | % | 0.43 | % | ||||||||||||||||||||||||
0.03 | %D | 0.18 | % | 0.17 | % | 0.59 | % | 1.12 | % | 0.70 | % | 0.59 | % | 0.05 | % | 0.03 | % | 0.44 | % | 0.86 | % | 0.43 | % | ||||||||||||||||||||||||
61 | %E | 26 | %C | 59 | % | 61 | % | 62 | % | 52 | % | 48 | % | 26 | %C | 59 | % | 61 | % | 62 | % | 52 | % |
25
Advisor Class | Retirement Class | AMR Class | ||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||
April 30, | May 01 to October | April 30, | Year Ended October 31, | |||||||||||||||||||||||||||||
2006 | 2011G | 2010 | 31, 2009 | 2011G | 2010 | 2009 | 2008 | |||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 19.94 | $ | 17.23 | $ | 13.95 | $ | 11.58 | $ | 17.76 | $ | 14.32 | $ | 12.48 | $ | 22.05 | ||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
0.07 | 0.01 | 0.04 | (0.02 | ) | 0.02 | 0.18 | 0.11 | 0.33 | |||||||||||||||||||||||
Net gains (losses) on securities (both
realized and unrealized) |
2.88 | 3.93 | 3.28 | 2.39 | 4.14 | 3.38 | 1.97 | (7.15 | ) | |||||||||||||||||||||||
Total income (loss) from investment operations |
2.95 | 3.94 | 3.32 | 2.37 | 4.16 | 3.56 | 2.08 | (6.82 | ) | |||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.06 | ) | (0.05 | ) | (0.04 | ) | | (0.10 | ) | (0.12 | ) | (0.24 | ) | (0.28 | ) | |||||||||||||||||
Distributions from net realized gains on
securities |
(0.89 | ) | | | | | | | (2.47 | ) | ||||||||||||||||||||||
Total distributions |
(0.95 | ) | (0.05 | ) | (0.04 | ) | | (0.10 | ) | (0.12 | ) | (0.24 | ) | (2.75 | ) | |||||||||||||||||
Net asset value, end of period |
$ | 21.94 | $ | 21.12 | $ | 17.23 | $ | 13.95 | $ | 21.82 | $ | 17.76 | $ | 14.32 | $ | 12.48 | ||||||||||||||||
Total return A,B |
15.23 | % | 22.88 | %C | 23.82 | % | 20.47 | %C | 23.45 | %C | 25.00 | % | 17.30 | % | (34.71 | )% | ||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 70,602 | $ | 769 | $ | 360 | $ | 1 | $ | 467,868 | $ | 320,715 | $ | 271,066 | $ | 209,927 | ||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||
Expenses, net of waivers |
1.34 | % | 1.55 | % | 1.54 | % | 1.53 | %D | 0.54 | % | 0.57 | % | 0.59 | % | 0.56 | % | ||||||||||||||||
Expenses before waivers |
1.34 | % | 1.55 | % | 1.54 | % | 1.53 | %D | 0.54 | % | 0.57 | % | 0.59 | % | 0.56 | % | ||||||||||||||||
Net investment income (loss), net
of waivers |
0.31 | % | (0.27 | )% | (0.20 | )% | (0.28) | %D | 0.78 | % | 0.76 | % | 1.11 | % | 1.62 | % | ||||||||||||||||
Net investment income (loss),
before waivers |
0.31 | % | (0.27 | )% | (0.20 | )% | (0.28) | %D | 0.78 | % | 0.76 | % | 1.11 | % | 1.62 | % | ||||||||||||||||
Portfolio turnover rate |
48 | % | 26 | %C | 59 | % | 61 | %E | 26 | %C | 59 | % | 61 | % | 62 | % |
A | May include adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net assets for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. | |
B | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
C | Not annualized. | |
D | Annualized. | |
E | Portfolio turnover rate is for the period from November 1, 2008 through October 31, 2009. | |
F | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. | |
G | On November 30, 2010 Metropolitan West Capital Management, LLC was terminated and ceased managing assets of the Small Cap Value Fund. |
26
A Class | C Class | |||||||||||||||||||||
Six Months Ended | Six Months Ended | |||||||||||||||||||||
April 30, | May 17 to October | April 30, | September 01 to | |||||||||||||||||||
2007 | 2006 | 2011G | 31, 2010 | 2011G | October 31, 2010 | |||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||
$ | 22.48 | $ | 20.38 | $ | 17.39 | $ | 17.33 | $ | 17.37 | $ | 15.62 | |||||||||||
0.30 | 0.27 | 0.05 | 0.00 | 0.01 | (0.01 | ) | ||||||||||||||||
1.08 | 2.91 | 3.95 | 0.06 | 3.90 | 1.76 | |||||||||||||||||
1.38 | 3.18 | 4.00 | 0.06 | 3.91 | 1.75 | |||||||||||||||||
(0.25 | ) | (0.19 | ) | (0.06 | ) | | (0.03 | ) | | |||||||||||||
(1.56 | ) | (0.89 | ) | | | | | |||||||||||||||
(1.81 | ) | (1.08 | ) | (0.06 | ) | | (0.03 | ) | | |||||||||||||
$ | 22.05 | $ | 22.48 | $ | 21.33 | $ | 17.39 | $ | 21.25 | $ | 17.37 | |||||||||||
6.39 | % | 16.12 | % | 23.03 | %C | 0.35 | %C | 22.57 | %C | 11.20 | %C | |||||||||||
$ | 411,406 | $ | 412,857 | $ | 762 | $ | 18 | $ | 300 | $ | 6 | |||||||||||
0.54 | % | 0.55 | % | 1.27 | % | 1.28 | %D | 2.00 | % | 2.10 | %D | |||||||||||
0.54 | % | 0.55 | % | 1.27 | % | 1.28 | %D | 2.00 | % | 2.69 | %D | |||||||||||
1.21 | % | 1.10 | % | (0.25 | )% | 0.01 | %D | (1.00 | )% | (1.28) | %D | |||||||||||
1.21 | % | 1.10 | % | (0.25 | )% | 0.01 | %D | (1.01 | )% | (1.86) | %D | |||||||||||
52 | % | 48 | % | 26 | %C | 59 | %F | 26 | %C | 59 | %F |
27
28
29
7
|
8 | |
By E-mail:
|
On the Internet: | |
american_beacon.funds@ambeacon.com
|
Visit our website at www.americanbeaconfunds.com | |
(
|
- | |
By Telephone:
|
By Mail: | |
Institutional Class
|
American Beacon Funds | |
Call (800) 658-5811
|
P.O. Box 219643 | |
AMR ClassSM
|
Kansas City, MO 64121-9643 | |
Call (800) 345-2345 |
||
Investor Class®, Retirement, and Advisor Class |
||
Call (800) 388-3344 |
||
Availability of Quarterly Portfolio Schedules
|
Availability of Proxy Voting Policy and Records | |
In addition to the Schedule of Investments provided in
each semi-annual and annual report, the Fund files a
complete schedule of its portfolio holdings with the
Securities and Exchange Commission (SEC) on Form N-Q
as of the first and third fiscal quarters. The Funds
Forms N-Q are available on the SECs website at
www.sec.gov. The Forms N-Q may also be reviewed and
copied at the SECs Public Reference Room, 450 Fifth
Street, NW, Washington, DC 20549. Information regarding
the operation of the SECs Public Reference Room may be
obtained by calling 1-800-SEC-0330. A complete schedule
of the Funds portfolio holdings is also available on
the Funds website (www.americanbeaconfunds.com)
approximately twenty days after the end of each month.
|
A description of the policies and procedures the Fund uses to determine how to vote proxies relating to portfolio securities is available in the Funds Statement of Additional Information, is available free of charge on the Funds website (www.americanbeaconfunds.com) and by calling 1-800-967-9009 or by accessing the SECs website at www.sec.gov. The Funds proxy voting record for the most recent year ended June 30 is filed annually with the SEC on Form N-PX. The Funds Forms N-PX are available on the SECs website at www.sec.gov. The Funds proxy voting record may also be obtained by calling 1-800-967-9009. |
Custodian
|
Transfer Agent | Independent Registered | Distributor | |||
State Street Bank and Trust
|
Boston Financial Data Services | Public Accounting | Foreside Fund Services, LLC | |||
Boston, Massachusetts
|
Kansas City, Missouri | Firm Ernst & Young LLP | Portland, Maine | |||
Dallas, Texas |
l V I S I O N l E X P E R I E N C E Semi-Annual Report April 30, 2011 EMERGING MARKETS FUND INTERNATIONAL EQUITY FUND |
1 | ||||
2-8 | ||||
Schedule of Investments: |
||||
10 | ||||
16 | ||||
Back Cover |
American Beacon Funds | April 30, 2011 |
Best Regards, |
||||
![]() |
||||
Gene L. Needles, Jr. | ||||
President American Beacon Funds |
1
2
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional Class(1,7) |
7.50 | % | 18.77 | % | 8.51 | % | 16.11 | % | ||||||||
Y Class (1,2,7) |
7.50 | % | 18.69 | % | 8.48 | % | 16.09 | % | ||||||||
Investor Class(1,3,7) |
7.23 | % | 18.23 | % | 8.12 | % | 15.79 | % | ||||||||
A Class with sales
charge (1,4,7) |
1.17 | % | 11.39 | % | 6.83 | % | 15.11 | % | ||||||||
A Class without sales
charge (1,4,7) |
7.33 | % | 18.18 | % | 8.11 | % | 15.79 | % | ||||||||
C Class with sales
charges (1,5,7) |
5.87 | % | 16.59 | % | 8.00 | % | 15.73 | % | ||||||||
C Class without sales
charge (1,5,7) |
6.87 | % | 17.59 | % | 8.00 | % | 15.73 | % | ||||||||
AMR Class(1,7) |
7.45 | % | 18.74 | % | 8.72 | % | 16.36 | % | ||||||||
MSCI Emg Mkts
Index(6) |
9.74 | % | 20.67 | % | 9.85 | % | 16.58 | % | ||||||||
Lipper Emg Mkts Funds
Index(6) |
8.43 | % | 20.88 | % | 8.15 | % | 15.92 | % |
* | Not annualized |
1. | Performance shown is historical and may not be indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. A portion of the fees charged to the Institutional Class has been waived since 2010. Performance prior to waiving fees was lower than the actual returns shown. | |
2. | Fund performance for the one-year, five-year, and ten-year periods represent the total returns achieved by the Institutional Class from 4/30/01 up to 3/1/10, the inception date of the Y Class, and the returns of the Y Class since its inception. Expenses of the Y Class are higher than those of the Institutional Class. As a result, total returns shown may be higher than they would have been had the Y Class been in existence since 4/30/01. A portion of the fees charged to the Y Class has been waived since 2010. Performance prior to waiving fees was lower than the actual returns shown. | |
3. | Fund performance for the ten-year period represents the total returns achieved by the Institutional Class from 4/30/01 up to 10/1/02, the inception date of the Investor Class, and the returns of the Investor Class since its inception. Expenses of the Investor Class are higher than those of the Institutional Class. Therefore, total returns shown may be higher than they would have been had the Investor Class been in existence since 4/30/01. A portion of the fees charged to the Investor Class of the Fund was waived in 2004 to 2005, and since 2010 and recouped in 2006. Performance prior to fee waivers and fee recoupment is different than the actual returns shown. | |
4. | Fund performance for the one-year, five-year, and ten-year periods represents total returns achieved by the Institutional Class from 4/30/01 through 10/1/02, the Investor Class from 10/1/02 up to 5/17/10, the inception date of the A Class, and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Institutional and Investor Classes. As a result, total returns shown may be higher than they would have been had the A Class been in existence since 4/30/01. A portion of the fees charged to the A Class has been waived since 2010. Performance prior to waiving fees was lower than the actual returns shown. The maximum sales charge for A Class is 5.75%. | |
5. | Fund performance for the one-year, five-year, and ten-year periods represents total returns achieved by the Institutional Class from 4/30/01 through 10/1/02, the Investor Class from 10/1/02 up to 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Institutional and Investor Classes. As a result, total returns shown may be higher than they would have been had the C Class been in existence since 4/30/01. A portion of the fees charged to the C Class has been waived since 2010. Performance prior to waiving fees was lower than the actual returns shown. The maximum contingent deferred sales charge for C Class is 1.00% for shares redeemed within one year of the date of purchase. | |
6. | The MSCI Emerging Markets Index is a market capitalization weighted index composed of companies that are representative of the market structure of developing countries in Latin America, Asia, Eastern Europe, the Middle East and Africa. The Lipper Emerging Market Funds Index tracks the results of the 30 largest mutual funds in the Lipper Emerging Market Funds category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
7. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, Investor, A, C, and AMR Class shares was 1.59%, 1.83%, 1.87%, 2.27%, 3.42%, and 1.35%, respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that are based on expenses incurred during the period covered by this report. |
3
% of | ||||
Net Assets | ||||
Petroleo Brasileiro S.A. |
3.1 | % | ||
Hyundai Motor Co. |
1.8 | % | ||
China Mobile Ltd. |
1.7 | % | ||
Standard Bank Group Ltd/South Africa |
1.7 | % | ||
KB Financial Group, Inc. |
1.6 | % | ||
Gazprom OAO |
1.5 | % | ||
POSCO |
1.5 | % | ||
Samsung Electronics Co. Ltd. |
1.5 | % | ||
PetroChina Co. Ltd. |
1.3 | % | ||
Telefonica O2 Czech Republic AS |
1.7 | % |
% of | ||||
Equities | ||||
Financials |
22.9 | % | ||
Telecommunication Services |
13.1 | % | ||
Consumer Staples |
11.4 | % | ||
Information Technology |
10.5 | % | ||
Materials |
9.9 | % | ||
Energy |
9.8 | % | ||
Consumer Discretionary |
8.7 | % | ||
Utilities |
6.3 | % | ||
Industrials |
5.9 | % | ||
Health Care |
1.5 | % |
% of | ||||
Equities | ||||
South Korea |
18.5 | % | ||
Hong Kong/China |
18.1 | % | ||
Brazil |
16.4 | % | ||
South Africa |
6.8 | % | ||
India |
6.2 | % | ||
Taiwan |
6.0 | % | ||
Mexico |
4.5 | % | ||
Russia |
4.2 | % | ||
Turkey |
2.5 | % | ||
Czech Republic |
2.4 | % | ||
Indonesia |
2.2 | % | ||
Philippines |
2.1 | % | ||
Malaysia |
2.0 | % | ||
Thailand |
1.3 | % | ||
Poland |
1.3 | % | ||
Austria |
1.2 | % | ||
Hungary |
1.1 | % | ||
United States |
0.9 | % | ||
Egypt |
0.5 | % | ||
Peru |
0.4 | % | ||
Argentina |
0.4 | % | ||
Cayman Islands |
0.3 | % | ||
Singapore |
0.2 | % | ||
Lebanon |
0.2 | % | ||
United Kingdom |
0.1 | % | ||
Chile |
0.1 | % | ||
Israel |
0.1 | % |
4
Beginning | Ending | |||||||||||
Account | Account | Expenses Paid | ||||||||||
Value | Value | During Period* | ||||||||||
11/1/10 | 4/30/11 | 11/1/10-4/30/11 | ||||||||||
Institutional Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,075.02 | $ | 6.95 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,018.10 | $ | 6.76 | ||||||
Y Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,075.02 | $ | 7.45 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,017.62 | $ | 7.24 | ||||||
Investor Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,072.25 | $ | 9.19 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,015.93 | $ | 8.94 | ||||||
AMR Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,074.51 | $ | 6.70 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,018.34 | $ | 6.51 | ||||||
A Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,073.34 | $ | 9.01 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,016.11 | $ | 8.76 | ||||||
C Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,068.72 | $ | 13.04 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,012.18 | $ | 12.69 |
* | Expenses are equal to the Funds annualized expense ratios for the six-month period of 1.35%, 1.45%, 1.79%, 1.30%, 1.75% and 2.54% for the Institutional, Y, Investor, AMR, A and C Classes respectively, multiplied by the average account value over the period, multiplied by the number derived by dividing the number of days in the most recent fiscal half-year (181) by days in the year (365) to reflect the half year period. | |
** | 5% return before expenses. |
5
6
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional Class(1,8) |
13.58 | % | 20.22 | % | 2.24 | % | 6.67 | % | ||||||||
Y Class (1,2,8) |
13.49 | % | 19.99 | % | 2.20 | % | 6.65 | % | ||||||||
Investor Class(1,8) |
13.35 | % | 19.69 | % | 1.92 | % | 6.42 | % | ||||||||
Advisor Class
(1,3,8) |
13.32 | % | 19.53 | % | 1.65 | % | 6.18 | % | ||||||||
Retirement Class
(1,4,8) |
13.28 | % | 19.35 | % | 1.61 | % | 6.16 | % | ||||||||
A Class with sales
charge (1,5,8) |
6.80 | % | 12.62 | % | .69 | % | 5.77 | % | ||||||||
A Class without sales
charge (1,5,8) |
13.31 | % | 19.50 | % | 1.89 | % | 6.40 | % | ||||||||
C Class with sales
charge (1,6,8) |
11.83 | % | 17.78 | % | 1.77 | % | 6.33 | % | ||||||||
C Class without sales
charge (1,6,8) |
12.83 | % | 18.78 | % | 1.77 | % | 6.33 | % | ||||||||
AMR Class(1,8) |
13.74 | % | 20.49 | % | 2.49 | % | 6.94 | % | ||||||||
Lipper Intl. Funds
Index(7) |
12.72 | % | 19.89 | % | 2.85 | % | 6.42 | % | ||||||||
MSCI EAFE
Index (7) |
12.71 | % | 19.18 | % | 1.54 | % | 5.29 | % |
* | Not annualized | |
1. | Performance shown is historical and may not be indicative of future returns. Please note that the recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. | |
2. | Fund performance for the five year and ten-year periods represents the total returns achieved by the Institutional Class from 4/30/01 up to 8/3/09, the inception date of the Y Class, and the returns of the Y Class since its inception. | |
3. | Fund performance for the ten-year period represents the total returns achieved by the Investor Class from 4/30/01 up to 5/1/03, the inception date of the Advisor Class, and the returns of the Advisor Class since its inception. Expenses of the Advisor Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the Advisor Class been in existence since 4/30/01. A portion of the fees charged to the Advisor Class of the Fund was waived through 2007. Performance prior to waiving fees was lower than the actual returns shown for periods through 2007. | |
4. | Fund performance for the five-year and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 through 4/30/03 and the Advisor Class from 5/1/03 up to 5/1/09, the inception date of the Retirement Class, and the returns of the Retirement Class since its inception. Expenses of the Retirement Class are higher than those of the Advisor and Investor Classes. As a result, total returns shown may be higher than they would have been had the Retirement Class been in existence since 4/30/01. | |
5. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 up to 5/17/10, the inception date of the A Class, and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the A Class been in existence since 4/30/01. A portion of the fees charged to the A Class was waived since 2011. Performance prior to waiving fees was lower than the actual returns shown since 2011. The maximum sales charge for A Class is 5.75%. | |
6. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 up to 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the C Class been in existence since 4/30/01. A portion of the fees charged to the C Class was waived since 2011. Performance prior to waiving fees was lower than the actual returns shown since 2011. The maximum contingent deferred sales charge for C Class is 1.00% for shares redeemed within one year of the date of purchase. | |
7. | The Lipper International Funds Index tracks the results of the 30 largest mutual funds in the Lipper International Funds category. Lipper is an independent mutual fund research and ranking service. The MSCI EAFE Index is a market capitalization weighted index of international stock performance composed of equities from developed markets excluding the U.S. and Canada. One cannot directly invest in an index. | |
8. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, Investor, Advisor, Retirement, A, C, and AMR Class shares was 0.72%, 0.82%, 1.08%, 1.27%, 1.67%, 1.27%, 2.17%, and 0.47%, respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that are based on expenses incurred during the period covered by this report. |
7
% of | ||||
Net Assets | ||||
Sanofi-Aventis S.A. |
2.4 | % | ||
Novartis AG |
2.2 | % | ||
Siemens AG |
1.9 | % | ||
UBS AG |
1.8 | % | ||
HSBC Holdings plc |
1.7 | % | ||
Total S.A. |
1.6 | % | ||
Royal Dutch Shell plc |
1.5 | % | ||
DBS Group Holdings Ltd. |
1.5 | % | ||
GlaxoSmithKline plc |
1.5 | % | ||
Roche Holding Ltd. |
1.6 | % |
% of | ||||
Equities* | ||||
Financials |
23.1 | % | ||
Industrials |
15.1 | % | ||
Consumer Discretionary |
12.3 | % | ||
Health Care |
9.9 | % | ||
Materials |
9.6 | % | ||
Energy |
8.2 | % | ||
Consumer Staples |
6.7 | % | ||
Telecommunication Services |
6.1 | % | ||
Information Technology |
6.0 | % | ||
Utilities |
2.9 | % | ||
Private Placement |
0.1 | % |
Region | ||||
Europe |
73.4 | % | ||
Asia |
25.0 | % | ||
North America |
1.3 | % | ||
Middle East |
0.3 | % |
8
Beginning | Ending | |||||||||||
Account | Account | Expenses Paid | ||||||||||
Value | Value | During Period* | ||||||||||
11/1/10 | 4/30/11 | 11/1/10-4/30/11 | ||||||||||
Institutional Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,135.85 | $ | 3.77 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,021.26 | $ | 3.57 | ||||||
Y Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,134.88 | $ | 4.35 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,020.72 | $ | 4.12 | ||||||
Investor Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,133.49 | $ | 5.67 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,019.48 | $ | 5.37 | ||||||
Advisor Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,133.18 | $ | 6.51 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,018.69 | $ | 6.16 | ||||||
Retirement Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,132.80 | $ | 6.76 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,018.46 | $ | 6.40 | ||||||
AMR Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,137.39 | $ | 2.44 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,022.51 | $ | 2.31 | ||||||
A Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,133.08 | $ | 6.34 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,018.85 | $ | 6.00 | ||||||
C Class |
||||||||||||
Actual |
$ | 1,000.00 | $ | 1,128.28 | $ | 10.61 | ||||||
Hypothetical ** |
$ | 1,000.00 | $ | 1,014.82 | $ | 10.05 |
* | Expenses are equal to the Funds annualized expense ratios for the six-month period of 0.71%, 0.82%, 1.07%, 1.23%, 1.28%, 0.46%, 1.20% and 2.01% for the Institutional, Y, Investor, Advisor, Retirement, AMR, A and C Classes respectively, multiplied by the average account value over the period, multiplied by the number derived by dividing the number of days in the most recent fiscal half-year (181) by days in the year (365) to reflect the half year period. | |
** | 5% return before expenses. |
9
Shares | Value | |||||||
($000) | ||||||||
ARGENTINA - 0.34% |
||||||||
COMMON STOCKS - 0.34% (Cost $629) |
||||||||
Banco Macro S.A., ADRA |
2,592 | 96 | ||||||
Nortel Inversora S.A., ADRA |
18,400 | 480 | ||||||
Total Argentina |
576 | |||||||
AUSTRIA - 1.14% |
||||||||
COMMON STOCKS - 1.14% (Cost $1,750) |
||||||||
Erste Group Bank AG |
38,472 | 1,944 | ||||||
BRAZIL - 15.72% |
||||||||
COMMON STOCKS - 13.83% (Cost $20,231) |
||||||||
Banco do Brasil S.A. |
72,500 | 1,336 | ||||||
Banco Santander Brasil S.A./Brazil, ADRA
B |
176,970 | 2,055 | ||||||
BM&FBovespa S.A. |
50,900 | 382 | ||||||
BRF Brasil Foods S.A. |
32,010 | 642 | ||||||
Centrais Eletricas Brasileiras S.A., ADRA |
100,100 | 1,484 | ||||||
Centrais Eletricas Brasileiras S.A.B |
15,966 | 232 | ||||||
Cia de Bebidas das Americas, ADRA |
19,280 | 628 | ||||||
Cia de Saneamento de Minas Gerais-COPASAB |
21,200 | 387 | ||||||
Cielo S.A. |
33,700 | 312 | ||||||
Embraer S.A., ADRA |
9,280 | 301 | ||||||
Fibria Celulose S.A., ADRA |
25,500 | 412 | ||||||
Gerdau S.A., ADRA |
38,950 | 471 | ||||||
Grendene S.A. |
31,840 | 190 | ||||||
Hypermarcas S.A. |
13,400 | 180 | ||||||
Inpar S.A.B |
514,200 | 974 | ||||||
Itau Unibanco Holding S.A., ADRA |
49,279 | 1,170 | ||||||
JBS S.A. |
171,100 | 584 | ||||||
Magnesita Refratarios S.A.B C |
53,700 | 285 | ||||||
Marfrig Alimentos S.A. |
166,000 | 1,709 | ||||||
MRV Engenharia e Participacoes S.A. |
20,000 | 173 | ||||||
PDG Realty S.A. Empreendimentos e Participacoes |
60,000 | 352 | ||||||
Petroleo Brasileiro S.A., A Shares, ADRA |
101,479 | 3,387 | ||||||
Petroleo Brasileiro S.A., ADRA |
48,480 | 1,810 | ||||||
Porto Seguro S.A. |
5,360 | 90 | ||||||
Redecard S.A. |
126,900 | 1,835 | ||||||
Vale S.A., ADRA |
23,380 | 780 | ||||||
Vivo Participacoes S.A., ADRA |
31,700 | 1,325 | ||||||
Total Common Stocks |
23,486 | |||||||
PREFERRED STOCKS - 1.89% (Cost $1,812) |
||||||||
Cia de Tecidos do Norte de Minas Coteminas |
40,262 | 116 | ||||||
Cia Energetica de Minas Gerais |
20,803 | 426 | ||||||
Cia Energetica do Ceara |
31,800 | 698 | ||||||
Gerdau S.A. |
5,800 | 70 | ||||||
Itau Unibanco Holding S.A. |
23,255 | 548 | ||||||
Tele Norte Leste Participacoes S.A.,
ADRA |
22,660 | 386 | ||||||
Ultrapar Participacoes S.A. |
12,500 | 218 | ||||||
Vale S.A., A Shares |
10,704 | 313 | ||||||
Vale S.A., ADRA |
14,986 | 449 | ||||||
Total Preferred Stocks |
3,224 | |||||||
Total Brazil |
26,710 | |||||||
CAYMAN ISLANDS - 0.24% |
||||||||
COMMON STOCKS - 0.24% (Cost $415) |
||||||||
China Mengniu Dairy Co Ltd. |
66,000 | 204 | ||||||
Mindray Medical International Ltd., ADRA |
7,910 | 211 | ||||||
Total Cayman Islands |
415 | |||||||
CHILE - 0.14% |
||||||||
COMMON STOCKS - 0.14% (Cost $224) |
||||||||
Empresa Nacional de Electricidad S.A./Chile,
ADRA |
600 | 34 | ||||||
Empresa Nacional de Electricidad S.A./Chile |
109,000 | 206 | ||||||
Total Chile |
240 | |||||||
CZECH REPUBLIC - 2.30% |
||||||||
COMMON STOCKS - 2.30% (Cost $3,045) |
||||||||
CEZ AS |
10,500 | 602 | ||||||
Komercni Banka AS |
1,624 | 428 | ||||||
Telefonica Czech Republic AS |
111,788 | 2,870 | ||||||
Total Czech Republic |
3,900 | |||||||
EGYPT - 0.51% |
||||||||
COMMON STOCKS - 0.51% (Cost $1,021) |
||||||||
Commercial International Bank Egypt SAE |
82,672 | 383 | ||||||
Egyptian Financial Group-Hermes Holding,
GDRD |
5,325 | 32 | ||||||
Egyptian Financial Group-Hermes Holding |
17,649 | 53 | ||||||
Juhayna Food IndustriesB |
152,502 | 138 | ||||||
Telecom Egypt |
92,703 | 255 | ||||||
Total Egypt |
861 | |||||||
HONG KONG/CHINA - 17.34% |
||||||||
COMMON STOCKS - 17.34% (Cost $28,038) |
||||||||
Asia Cement China Holdings Corp. |
181,500 | 148 | ||||||
Bank of China Ltd. |
613,890 | 340 | ||||||
Bank of Communications Co Ltd.B E |
139,000 | 147 | ||||||
Beijing Capital International Airport Co Ltd. |
780,000 | 385 | ||||||
Belle International Holdings Ltd. |
165,000 | 323 | ||||||
BYD Electronic International Co Ltd. |
531,000 | 285 | ||||||
Chaoda Modern Agriculture Holdings Ltd. |
2,200,000 | 1,374 | ||||||
China Coal Energy Co Ltd. |
274,000 | 382 | ||||||
China Construction Bank Corp. |
1,348,325 | 1,276 | ||||||
China Dongxiang Group Co. |
1,469,000 | 514 | ||||||
China Gas Holdings Ltd. |
314,000 | 123 | ||||||
China Life Insurance Co Ltd. |
171,000 | 607 | ||||||
China Minsheng Banking Corp Ltd. |
234,000 | 224 | ||||||
China Mobile Ltd. |
321,000 | 2,955 | ||||||
China Pacific Insurance Group Co Ltd. |
95,400 | 412 | ||||||
China Petroleum & Chemical Corp. |
46,370 | 47 | ||||||
China Petroleum & Chemical Corp., ADRA |
1,260 | 127 | ||||||
China Power International Development Ltd. |
1,148,800 | 265 | ||||||
China Railway Construction Corp Ltd. |
310,500 | 274 | ||||||
China Railway Group Ltd. |
541,000 | 290 | ||||||
China Resources Power Holdings Co Ltd. |
1,086,000 | 2,003 | ||||||
China Shipping Container Lines Co Ltd. |
316,000 | 126 | ||||||
China Telecom Corp Ltd. |
500,000 | 289 | ||||||
China Yuchai International Ltd. |
25,420 | 841 | ||||||
China ZhengTong Auto Services Holdings
Ltd.B |
153,000 | 172 | ||||||
CNOOC Ltd. |
226,000 | 558 | ||||||
Dickson Concepts International Ltd. |
687,945 | 545 |
10
Shares | Value | |||||||
($000) | ||||||||
Dongfeng Motor Group Co Ltd. |
26,000 | 41 | ||||||
First Pacific Co Ltd/Hong Kong |
2,147,074 | 2,019 | ||||||
Global Bio-Chem Technology Group Co Ltd. |
1,622,520 | 397 | ||||||
Guangzhou Automobile Group Co Ltd. |
343,370 | 386 | ||||||
Hengan International Group Co Ltd. |
24,000 | 186 | ||||||
Huaneng Power International, Inc. |
655,900 | 362 | ||||||
Huaneng Power International, Inc., ADRA |
370 | 8 | ||||||
Industrial & Commercial Bank of China |
1,251,555 | 1,059 | ||||||
JA Solar Holdings Co Ltd., ADRA B |
20,110 | 138 | ||||||
Maanshan Iron & Steel |
262,000 | 137 | ||||||
NWS Holdings Ltd. |
209,651 | 308 | ||||||
Peoples Food Holdings Ltd. |
1,313,911 | 816 | ||||||
Perfect World Co Ltd., ADRA B |
15,730 | 428 | ||||||
PetroChina Co. Ltd. |
1,554,000 | 2,225 | ||||||
Ping An Insurance Group Co. |
38,000 | 416 | ||||||
Renhe Commercial Holdings Co Ltd. |
2,644,000 | 456 | ||||||
Shanghai Industrial Holdings Ltd. |
48,000 | 189 | ||||||
Sinotrans Ltd. |
5,671,058 | 1,387 | ||||||
Sohu.com, Inc.B |
3,300 | 349 | ||||||
Tencent Holdings Ltd. |
18,200 | 520 | ||||||
TPV Technology Ltd. |
264,970 | 152 | ||||||
Want Want China Holdings Ltd. |
234,000 | 210 | ||||||
Weiqiao Textile Co. |
1,422,600 | 1,293 | ||||||
West China Cement Ltd. |
470,000 | 193 | ||||||
Xinhua Winshare Publishing and Media Co Ltd. |
477,000 | 262 | ||||||
Xinjiang Goldwind Science & Technology Co
Ltd.C |
85,000 | 118 | ||||||
Yanzhou Coal Mining Co Ltd. |
94,000 | 366 | ||||||
Total Hong Kong/China |
29,453 | |||||||
HUNGARY - 1.05% |
||||||||
COMMON STOCKS - 1.05% (Cost $1,329) |
||||||||
Magyar Telekom Telecommunications plc |
421,763 | 1,438 | ||||||
Richter Gedeon Nyrt |
1,685 | 353 | ||||||
Total Hungary |
1,791 | |||||||
INDIA - 5.88% |
||||||||
COMMON STOCKS - 5.88% (Cost $8,482) |
||||||||
Asian Paints Ltd. |
3,385 | 212 | ||||||
Bank of India |
12,750 | 131 | ||||||
Coal India Ltd. |
11,816 | 102 | ||||||
Dr Reddys Laboratories Ltd. |
9,042 | 340 | ||||||
Engineers India Ltd. |
25,898 | 169 | ||||||
GAIL India Ltd. |
16,062 | 173 | ||||||
Glenmark Pharmaceuticals Ltd. |
77,523 | 523 | ||||||
HDFC Bank Ltd. |
9,836 | 511 | ||||||
Hindustan Petroleum Corp Ltd. |
40,070 | 337 | ||||||
ICICI Bank Ltd. |
12,759 | 320 | ||||||
India Cements Ltd. |
263,740 | 591 | ||||||
IndusInd Bank Ltd. |
51,650 | 303 | ||||||
Infosys Technologies Ltd. |
10,960 | 719 | ||||||
Infrastructure Development Finance Co Ltd. |
2,983 | 10 | ||||||
ITC Ltd. |
57,219 | 249 | ||||||
Jindal Steel & Power Ltd. |
17,032 | 256 | ||||||
Jubilant Life Sciences Ltd. |
70,760 | 287 | ||||||
Larsen & Toubro Ltd. |
6,647 | 240 | ||||||
Mahanagar Telephone Nigam |
186,640 | 205 | ||||||
NMDC Ltd. |
59,760 | 368 | ||||||
Patni Computer Systems Ltd. |
22,120 | 212 | ||||||
Reliance Industries Ltd. |
66,006 | 1,471 | ||||||
Rolta India Ltd. |
103,260 | 323 | ||||||
State Bank of India, GDRD E |
5,090 | 696 | ||||||
State Bank of India |
4,540 | 288 | ||||||
Steel Authority of India Ltd. |
53,610 | 194 | ||||||
Sterlite Industries India Ltd. |
77,650 | 319 | ||||||
Sterlite Industries India Ltd., ADRA |
40 | 1 | ||||||
Sun TV Network Ltd. |
5,915 | 57 | ||||||
Tata Consultancy Services Ltd. |
14,799 | 389 | ||||||
Total India |
9,996 | |||||||
INDONESIA - 2.08% |
||||||||
COMMON STOCKS - 2.08% (Cost $2,591) |
||||||||
Aneka Tambang Tbk PT |
194,000 | 52 | ||||||
Astra Agro Lestari Tbk PT |
45,500 | 123 | ||||||
Astra International Tbk PT |
57,400 | 376 | ||||||
Bank Central Asia Tbk PT |
406,000 | 351 | ||||||
Bank Mandiri Tbk PT |
355,500 | 297 | ||||||
Indofood Sukses Makmur Tbk PT |
431,500 | 280 | ||||||
Indosat Tbk PT |
797,500 | 498 | ||||||
Kalbe Farma Tbk PT |
176,500 | 74 | ||||||
Lippo Karawaci Tbk PT |
3,957,000 | 360 | ||||||
Medco Energi Internasional Tbk PT |
1,076,000 | 346 | ||||||
Telekomunikasi Indonesia Tbk PT |
872,800 | 784 | ||||||
Total Indonesia |
3,541 | |||||||
ISRAEL - 0.06% |
||||||||
COMMON STOCKS - 0.06% (Cost $102) |
||||||||
Teva Pharmaceutical Industries Ltd., ADRA |
2,330 | 107 | ||||||
LEBANON - 0.20% |
||||||||
COMMON STOCKS - 0.20% (Cost $375) |
||||||||
Banque Audi sal- Audi Saradar Group, GDRD |
22,681 | 171 | ||||||
BLOM Bank SAL, GDRD |
17,692 | 163 | ||||||
Total Lebanon |
334 | |||||||
MALAYSIA - 1.87% |
||||||||
COMMON STOCKS - 1.87% (Cost $2,732) |
||||||||
Axiata Group Bhd |
385,200 | 637 | ||||||
CIMB Group Holdings Bhd |
96,300 | 266 | ||||||
Genting Malaysia Bhd |
322,910 | 401 | ||||||
Malayan Banking Bhd |
156,318 | 462 | ||||||
Proton Holdings Bhd |
743,800 | 867 | ||||||
Sime Darby Bhd |
77,000 | 234 | ||||||
Tenaga Nasional Bhd |
149,750 | 304 | ||||||
Total Malaysia |
3,171 | |||||||
MEXICO - 4.27% |
||||||||
COMMON STOCKS - 4.27% (Cost $6,323) |
||||||||
America Movil SAB de CV, ADRA |
22,047 | 1,261 | ||||||
Cemex SAB de CV, ADRA |
191,880 | 1,666 | ||||||
Consorcio ARA SAB de CV |
299,700 | 177 | ||||||
Desarrolladora Homex SAB de CV, ADRA B |
17,650 | 498 | ||||||
Empresas ICA SAB de CV |
57,400 | 142 | ||||||
Fomento Economico Mexicano SAB de CV,
ADRA |
8,600 | 540 | ||||||
Gruma SAB de CV |
287,900 | 577 | ||||||
Grupo Continental SAB de CV |
51,150 | 192 | ||||||
Grupo Financiero Banorte SAB de CV |
131,989 | 659 | ||||||
Grupo Televisa S.A., ADRA |
21,000 | 498 | ||||||
Industrias CH SAB de CVB |
11,400 | 45 | ||||||
Telefonos de Mexico SAB de CV, ADRA |
30,050 | 563 | ||||||
Wal-Mart de Mexico SAB de CV |
141,900 | 444 | ||||||
Total Mexico |
7,262 | |||||||
11
Shares | Value | |||||||
($000) | ||||||||
PERU - 0.40% |
||||||||
COMMON STOCKS - 0.40% (Cost $692) |
||||||||
Cia de Minas Buenaventura S.A., ADRA |
8,330 | 347 | ||||||
Credicorp Ltd. |
3,410 | 329 | ||||||
Total Peru |
676 | |||||||
PHILIPPINES - 2.04% |
||||||||
COMMON STOCKS - 2.04% (Cost $3,046) |
||||||||
Ayala Corp. |
31,560 | 288 | ||||||
Bank of the Philippine Islands |
182,023 | 250 | ||||||
First Philippine Holdings Corp. |
911,470 | 1,408 | ||||||
Metro Pacific Investments Corp. |
3,025,000 | 259 | ||||||
Metropolitan Bank & Trust |
206,289 | 331 | ||||||
Pepsi-Cola Products Philippines, Inc.C |
4,938,000 | 283 | ||||||
Philippine Long Distance Telephone Co. |
5,620 | 326 | ||||||
SM Investments Corp. |
23,830 | 322 | ||||||
Total Philippines |
3,467 | |||||||
POLAND - 1.24% |
||||||||
COMMON STOCKS - 1.24% (Cost $1,918) |
||||||||
Asseco Poland S.A. |
24,141 | 483 | ||||||
Bank Pekao S.A. |
2,940 | 193 | ||||||
Central European Distribution Corp.B |
11,838 | 140 | ||||||
Eurocash S.A. |
41,000 | 502 | ||||||
Telekomunikacja Polska S.A. |
120,102 | 793 | ||||||
Total Poland |
2,111 | |||||||
RUSSIA - 4.03% |
||||||||
COMMON STOCKS - 4.03% (Cost $4,828) |
||||||||
Eurasia Drilling Co Ltd., GDRD |
6,265 | 212 | ||||||
Gazprom OAO, ADRA |
148,310 | 2,530 | ||||||
Lukoil OAO, ADRA |
31,131 | 2,168 | ||||||
Rosneft Oil Co., GDRB D E |
98,765 | 877 | ||||||
Sberbank of Russia, GDRD |
1,100 | 440 | ||||||
VimpelCom Ltd., ADRA |
42,230 | 615 | ||||||
Total Russia |
6,842 | |||||||
SINGAPORE - 0.18% |
||||||||
COMMON STOCKS - 0.18% (Cost $285) |
||||||||
Haw Par Corp Ltd. |
59,325 | 301 | ||||||
SOUTH AFRICA - 6.51% |
||||||||
COMMON STOCKS - 6.51% (Cost $8,810) |
||||||||
Anglo Platinum Ltd. |
7,782 | 791 | ||||||
ArcelorMittal South Africa Ltd. |
13,404 | 183 | ||||||
AVI Ltd. |
84,142 | 395 | ||||||
Clicks Group Ltd. |
57,180 | 382 | ||||||
Imperial Holdings Ltd. |
11,400 | 205 | ||||||
JD Group Ltd/South Africa |
48,110 | 351 | ||||||
MTN Group Ltd. |
96,311 | 2,142 | ||||||
Murray & Roberts Holdings Ltd. |
101,060 | 388 | ||||||
Naspers Ltd., N Shares |
15,039 | 905 | ||||||
Nedbank Group Ltd. |
21,490 | 479 | ||||||
Pick n Pay Stores Ltd. |
69,135 | 448 | ||||||
SABMiller plc |
20,375 | 770 | ||||||
Sappi Ltd. |
50,644 | 276 | ||||||
Sasol Ltd. |
4,820 | 278 | ||||||
Standard Bank Group Ltd/South Africa |
181,294 | 2,845 | ||||||
Telkom SA Ltd. |
39,640 | 231 | ||||||
Total South Africa |
11,069 | |||||||
SOUTH KOREA - 17.72% |
||||||||
COMMON STOCKS - 16.32% (Cost $22,377) |
||||||||
Amorepacific Corp. |
126 | 127 | ||||||
Cheil Industries, Inc. |
2,082 | 229 | ||||||
Cheil Worldwide, Inc. |
13,140 | 169 | ||||||
CJ CheilJedang Corp. |
2,036 | 472 | ||||||
Grand Korea Leisure Co Ltd. |
25,130 | 344 | ||||||
GS Engineering & Construction Corp. |
1,480 | 178 | ||||||
Hana Financial Group, Inc. |
270 | 11 | ||||||
Hite Brewery Co Ltd. |
2,811 | 308 | ||||||
Hynix Semiconductor, Inc. |
12,620 | 398 | ||||||
Hyundai Development Co. |
9,690 | 265 | ||||||
Hyundai Engineering & Construction Co Ltd. |
2,729 | 229 | ||||||
Hyundai Heavy Industries Co Ltd. |
471 | 235 | ||||||
Hyundai Mobis |
811 | 272 | ||||||
Hyundai Motor Co. |
3,446 | 792 | ||||||
Hyundai Steel Co. |
1,637 | 208 | ||||||
Jinro Ltd. |
5,440 | 184 | ||||||
KB Financial Group, Inc. |
49,824 | 2,674 | ||||||
Kia Motors Corp. |
4,580 | 329 | ||||||
Korea Electric Power Corp. |
88,035 | 2,103 | ||||||
Korea Exchange Bank |
74,480 | 633 | ||||||
Korean Reinsurance Co. |
21,023 | 241 | ||||||
KT Corp., ADRA |
4,090 | 83 | ||||||
KT Corp. |
2,720 | 98 | ||||||
KT&G Corp. |
9,264 | 548 | ||||||
LG Chem Ltd. |
1,263 | 624 | ||||||
LG Display Co Ltd. |
5,250 | 189 | ||||||
LG Electronics, Inc. |
4,020 | 387 | ||||||
Lotte Chilsung Beverage Co Ltd. |
1,359 | 1,456 | ||||||
Lotte Confectionery Co Ltd. |
804 | 1,192 | ||||||
NCSoft Corp. |
506 | 134 | ||||||
NHN Corp. |
1,230 | 244 | ||||||
NongShim Co Ltd. |
2,230 | 519 | ||||||
OCI Co Ltd. |
743 | 444 | ||||||
POSCO |
5,550 | 2,423 | ||||||
POSCO, ADRA |
790 | 87 | ||||||
Samsung Electronics Co. Ltd. |
2,790 | 2,324 | ||||||
Samsung Fire & Marine Insurance Co Ltd. |
2,836 | 609 | ||||||
Shinhan Financial Group Co Ltd. |
40,425 | 1,981 | ||||||
Shinsegae Co Ltd. |
1,751 | 441 | ||||||
SK Chemicals Co Ltd. |
2,921 | 206 | ||||||
SK Innovation Co Ltd. |
1,131 | 245 | ||||||
SK Telecom Co Ltd., ADRA |
25,410 | 482 | ||||||
SK Telecom Co Ltd. |
9,308 | 1,412 | ||||||
SSCP Co Ltd. |
10,075 | 31 | ||||||
Tong Yang Life Insurance |
34,240 | 409 | ||||||
Woongjin Coway Co Ltd. |
8,066 | 269 | ||||||
Yuhan Corp. |
3,503 | 469 | ||||||
Total Common Stocks |
27,707 | |||||||
PREFERRED STOCKS - 1.40% (Cost $1,671) |
||||||||
Hyundai Motor Co. |
29,132 | 2,188 | ||||||
Samsung Electronics Co. Ltd. |
313 | 184 | ||||||
Total Preferred Stocks |
2,372 | |||||||
Total South Korea |
30,079 | |||||||
TAIWAN - 5.78% |
||||||||
COMMON STOCKS - 5.78% (Cost $7,784) |
||||||||
Advanced Semiconductor Engineering, Inc. |
125,000 | 145 | ||||||
Asia Cement Corp. |
128,720 | 172 | ||||||
Asustek Computer, Inc. |
50,353 | 454 | ||||||
AU Optronics Corp., ADRA |
53,060 | 430 | ||||||
AU Optronics Corp. |
149,520 | 120 | ||||||
Chimei Innolux Corp. |
232,000 | 238 | ||||||
China Steel Corp. |
169,890 | 210 | ||||||
Chinatrust Financial Holding Co Ltd. |
193,914 | 178 |
12
Shares | Value | |||||||
($000) | ||||||||
E Ink Holdings, Inc. |
29,000 | 59 | ||||||
Epistar Corp.B |
23,000 | 76 | ||||||
First Financial Holding Co Ltd. |
177,406 | 164 | ||||||
Formosa Plastics Corp. |
93,000 | 380 | ||||||
Fubon Financial Holding Co Ltd. |
186,034 | 273 | ||||||
Hon Hai Precision Industry Co Ltd. |
284,645 | 1,078 | ||||||
HTC Corp. |
11,818 | 537 | ||||||
KGI Securities Co Ltd. |
365,000 | 191 | ||||||
Nan Ya Plastics Corp.B |
47,000 | 144 | ||||||
Nan Ya Printed Circuit Board Corp. |
157,019 | 513 | ||||||
Novatek Microelectronics Corp.B |
107,000 | 327 | ||||||
Powertech Technology, Inc. |
84,000 | 305 | ||||||
Quanta Computer, Inc. |
133,000 | 262 | ||||||
Siliconware Precision Industries Co. |
100,000 | 133 | ||||||
SinoPac Financial Holdings Co Ltd. |
1,327,987 | 630 | ||||||
Taiwan Semiconductor Manufacturing Co Ltd. |
418,385 | 1,070 | ||||||
Tatung Co Ltd. |
397,298 | 199 | ||||||
Transcend Information, Inc. |
120,520 | 353 | ||||||
Uni-President Enterprises Corp. |
231,400 | 333 | ||||||
United Microelectronics Corp. |
1,008,226 | 524 | ||||||
Young Fast Optoelectronics Co Ltd. |
46,000 | 315 | ||||||
Total Taiwan |
9,813 | |||||||
THAILAND - 1.25% |
||||||||
COMMON STOCKS - 1.25% (Cost $1,322) |
||||||||
Bangkok Bank PCL |
35,790 | 204 | ||||||
Kasikornbank PCL, NVDRF |
103,600 | 439 | ||||||
Kasikornbank PCL |
49,100 | 214 | ||||||
Land and Houses PCL, NVDRF |
689,100 | 152 | ||||||
PTT PCL |
30,500 | 383 | ||||||
Siam Cement PCL, NVDRF |
33,800 | 425 | ||||||
Total Access Communication PCL, NVDRF |
186,400 | 315 | ||||||
Total Thailand |
2,132 | |||||||
TURKEY - 2.43% |
||||||||
COMMON STOCKS - 2.43% (Cost $3,529) |
||||||||
Anadolu Efes Biracilik Ve Malt Sanayii AS |
33,142 | 510 | ||||||
Asya Katilim Bankasi AS |
137,080 | 271 | ||||||
Coca-Cola Icecek AS |
14,868 | 224 | ||||||
TAV Havalimanlari Holding ASB |
39,704 | 200 | ||||||
Turk Telekomunikasyon AS |
85,095 | 443 | ||||||
Turkcell Iletisim Hizmetleri AS, ADRA |
3,540 | 52 | ||||||
Turkcell Iletisim Hizmetleri AS |
31,130 | 184 | ||||||
Turkiye Is Bankasi |
169,572 | 600 | ||||||
Turkiye Vakiflar Bankasi Tao |
621,147 | 1,650 | ||||||
Total Turkey |
4,134 | |||||||
UNITED KINGDOM - 0.09% |
||||||||
COMMON STOCKS - 0.09% (Cost $107) |
||||||||
JKX Oil & Gas plc |
30,390 | 156 | ||||||
UNITED STATES - 0.85% |
||||||||
COMMON STOCKS - 0.85% (Cost $1,592) |
||||||||
Flextronics International Ltd.B |
206,600 | 1,440 | ||||||
SHORT-TERM INVESTMENTS - 2.46% (Cost $4,185) |
||||||||
JPMorgan U.S. Government Money Market Fund. |
4,184,849 | 4,185 | ||||||
TOTAL INVESTMENTS - 98.12% (Cost $141,245) |
166,706 | |||||||
OTHER ASSETS, NET OF LIABILITIES - 1.88% |
3,202 | |||||||
TOTAL NET ASSETS - 100.00% |
$ | 169,908 | ||||||
A | ADR American Depositary Receipt | |
B | Non-income producing security. | |
C | Private Placement | |
D | GDR Global Depositary Receipt | |
E | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $1,010 or 0.59% of net assets. The Fund has no right to demand registration of these securities | |
F | NVDR Non Voting Depositary Receipt |
13
Unrealized | ||||||||||||||||
Appreciation/ | ||||||||||||||||
Number of Contracts | Expiration Date | Value | (Depreciation) | |||||||||||||
MSCI Emerging Market EMini Future |
101 | June, 2011 | 6,105 | 208 | ||||||||||||
6,105 | 208 | |||||||||||||||
14
Shares | Value | |||||||
($000) | ||||||||
AUSTRALIA - 1.78% |
||||||||
COMMON STOCKS - 1.78% (Cost $23,138) |
||||||||
National Australia Bank Ltd. |
155,420 | 4,613 | ||||||
Nufarm Ltd/Australia |
307,090 | 1,626 | ||||||
Primary Health Care Ltd. |
615,815 | 2,342 | ||||||
QBE Insurance Group Ltd. |
627,176 | 12,863 | ||||||
Telstra Corp Ltd. |
2,156,700 | 6,879 | ||||||
Total Australia |
28,323 | |||||||
AUSTRIA - 0.20% |
||||||||
COMMON STOCKS - 0.20% (Cost $5,477) |
||||||||
Telekom Austria AG |
202,700 | 3,134 | ||||||
BELGIUM - 0.59% |
||||||||
COMMON STOCKS - 0.59% (Cost $3,538) |
||||||||
Anheuser-Busch InBev N.V.A |
147,800 | 9,424 | ||||||
CANADA - 0.88% |
||||||||
COMMON STOCKS - 0.88% (Cost $9,775) |
||||||||
Potash Corp of Saskatchewan, Inc. |
57,600 | 3,254 | ||||||
Rogers Communications, Inc., Class B |
79,600 | 3,013 | ||||||
Talisman Energy, Inc. |
319,100 | 7,706 | ||||||
Total Canada |
13,973 | |||||||
FINLAND - 1.20% |
||||||||
COMMON STOCKS - 1.20% (Cost $19,796) |
||||||||
Nokia OYJ |
1,639,103 | 15,101 | ||||||
Sampo OYJ |
115,100 | 3,873 | ||||||
Total Finland |
18,974 | |||||||
FRANCE - 13.10% |
||||||||
COMMON STOCKS - 13.10% (Cost $155,103) |
||||||||
Air Liquide S.A. |
24,680 | 3,651 | ||||||
Alstom S.A. |
164,934 | 10,968 | ||||||
AXA S.A.A |
643,806 | 14,447 | ||||||
BNP Paribas |
183,467 | 14,520 | ||||||
Carrefour S.A. |
179,760 | 8,523 | ||||||
Cie Generale des Etablissements Michelin |
90,220 | 9,043 | ||||||
Danone |
82,250 | 6,025 | ||||||
EDF S.A. |
145,570 | 6,129 | ||||||
European Aeronautic Defence and Space Co N.V. |
203,875 | 6,308 | ||||||
France Telecom S.A. |
533,910 | 12,522 | ||||||
Gemalto N.V. |
103,177 | 5,288 | ||||||
Legrand S.A., ADRB |
224,328 | 10,244 | ||||||
Sanofi-Aventis S.A. |
489,577 | 38,721 | ||||||
Societe Generale |
131,225 | 8,777 | ||||||
Technip S.A. |
69,550 | 7,846 | ||||||
Total S.A. |
390,727 | 25,012 | ||||||
Valeo S.A. |
110,396 | 7,030 | ||||||
Vinci S.A. |
140,197 | 9,365 | ||||||
Vivendi S.A. |
112,220 | 3,521 | ||||||
Total France |
207,940 | |||||||
GERMANY - 8.64% |
||||||||
COMMON STOCKS - 8.64% (Cost $100,240) |
||||||||
Bayer AGA |
76,715 | 6,744 | ||||||
Bayerische Motoren Werke AG |
89,030 | 8,396 | ||||||
Celesio AG |
245,480 | 5,952 | ||||||
Deutsche Post AG |
986,027 | 19,512 | ||||||
E.ON AGA |
426,700 | 14,587 | ||||||
Linde AG |
81,883 | 14,748 | ||||||
Merck KGaA |
81,929 | 8,679 | ||||||
Muenchener Rueckversicherungs AG |
92,550 | 15,278 | ||||||
SAP AG |
204,010 | 13,144 | ||||||
Siemens AG |
207,383 | 30,169 | ||||||
Total Germany |
137,209 | |||||||
GREECE - 0.53% |
||||||||
COMMON STOCKS - 0.53% (Cost $9,226) |
||||||||
OPAP S.A. |
396,130 | 8,373 | ||||||
HONG KONG/CHINA - 3.57% |
||||||||
COMMON STOCKS - 3.57% (Cost $49,810) |
||||||||
AIA Group Ltd.C |
2,400,400 | 8,113 | ||||||
Cheung Kong Holdings Ltd. |
472,500 | 7,435 | ||||||
Esprit Holdings Ltd. |
2,382,723 | 9,879 | ||||||
Hang Seng Bank Ltd. |
343,800 | 5,383 | ||||||
HSBC Holdings plc |
1,128,796 | 12,253 | ||||||
Hutchison Whampoa Ltd. |
187,000 | 2,138 | ||||||
Swire Pacific Ltd. |
237,100 | 3,621 | ||||||
Yue Yuen Industrial Holdings Ltd. |
2,281,667 | 7,874 | ||||||
Total Hong Kong/China |
56,696 | |||||||
IRELAND - 0.93% |
||||||||
COMMON STOCKS - 0.93% (Cost $16,845) |
||||||||
CRH plc |
243,030 | 5,943 | ||||||
James Hardie Industries SEC |
385,203 | 2,491 | ||||||
Smurfit Kappa Group plc |
465,636 | 6,383 | ||||||
Total Ireland |
14,817 | |||||||
ISRAEL - 0.30% |
||||||||
COMMON STOCKS - 0.30% (Cost $5,277) |
||||||||
Teva Pharmaceutical Industries Ltd., ADRB |
102,650 | 4,694 | ||||||
ITALY - 3.23% |
||||||||
COMMON STOCKS - 3.23% (Cost $46,854) |
||||||||
Atlantia SpA |
218,530 | 5,376 | ||||||
ENI SpA |
233,856 | 6,252 | ||||||
Finmeccanica SpA |
586,755 | 7,926 | ||||||
Intesa Sanpaolo SpA |
1,072,743 | 3,562 | ||||||
Saras SpA |
4,087,555 | 10,263 | ||||||
Snam Rete Gas SpA |
1,005,074 | 6,252 | ||||||
UniCredit SpA |
4,501,489 | 11,588 | ||||||
Total Italy |
51,219 | |||||||
JAPAN - 14.79% |
||||||||
COMMON STOCKS - 14.79% (Cost $218,466) |
||||||||
Asics Corp. |
151,980 | 2,188 | ||||||
Canon, Inc. |
139,900 | 6,553 | ||||||
Daito Trust Construction Co Ltd. |
104,900 | 8,341 | ||||||
Don Quijote Co Ltd. |
143,200 | 5,323 | ||||||
eAccess Ltd.A |
4,290 | 2,010 | ||||||
East Japan Railway Co. |
96,900 | 5,346 | ||||||
FUJIFILM Holdings Corp. |
107,900 | 3,339 | ||||||
Haseko Corp. |
3,521,018 | 2,344 | ||||||
Honda Motor Co Ltd. |
393,500 | 15,475 | ||||||
ITOCHU Corp. |
221,700 | 2,293 | ||||||
JGC Corp. |
332,000 | 8,182 | ||||||
JS Group Corp. |
245,600 | 5,886 | ||||||
JX Holdings, Inc. |
350,500 | 2,428 | ||||||
KDDI Corp. |
1,397 | 9,266 | ||||||
Keyence Corp. |
10,900 | 2,843 | ||||||
Kirin Holdings Co Ltd. |
336,000 | 4,672 | ||||||
Konica Minolta Holdings, Inc. |
347,500 | 3,046 | ||||||
Medipal Holdings Corp. |
557,900 | 4,615 |
15
Shares | Value | |||||||
($000) | ||||||||
Mitsubishi Corp. |
125,000 | 3,358 | ||||||
Mitsubishi UFJ Financial Group, Inc. |
2,099,400 | 10,016 | ||||||
Nintendo Co. Ltd. |
11,400 | 2,694 | ||||||
Ricoh Co Ltd. |
445,000 | 4,883 | ||||||
Ryohin Keikaku Co Ltd. |
36,100 | 1,660 | ||||||
Sankyo Co Ltd. |
110,800 | 5,723 | ||||||
Seven & I Holdings Co Ltd. |
194,300 | 4,846 | ||||||
Shin-Etsu Chemical Co Ltd. |
246,000 | 12,737 | ||||||
SMC Corp/Japan |
44,700 | 8,128 | ||||||
Sony Financial Holdings, Inc. |
521,800 | 9,643 | ||||||
Sumitomo Mitsui Financial Group, Inc. |
399,000 | 12,274 | ||||||
Taiyo Nippon Sanso Corp. |
473,000 | 3,802 | ||||||
Tokyo Electron Ltd. |
89,200 | 5,130 | ||||||
Tokyo Steel Manufacturing Co Ltd. |
773,200 | 8,322 | ||||||
Toyoda Gosei Co Ltd. |
291,900 | 6,352 | ||||||
Toyota Motor Corp. |
542,800 | 21,615 | ||||||
Yahoo Japan Corp. |
15,781 | 5,757 | ||||||
Yamada Denki Co. Ltd. |
196,470 | 13,612 | ||||||
Total Japan |
234,702 | |||||||
NETHERLANDS - 5.50% |
||||||||
COMMON STOCKS - 5.50% (Cost $75,614) |
||||||||
Akzo Nobel N.V.A |
230,998 | 17,942 | ||||||
ING Groep N.V. |
1,331,840 | 17,557 | ||||||
Koninklijke Philips Electronics N.V. |
499,917 | 14,824 | ||||||
Randstad Holding N.V. |
83,910 | 4,720 | ||||||
Reed Elsevier N.V. |
1,076,005 | 14,100 | ||||||
SBM Offshore N.V.D |
265,765 | 7,776 | ||||||
TNT N.V. |
420,924 | 10,365 | ||||||
Total Netherlands |
87,284 | |||||||
NORWAY - 1.60% |
||||||||
COMMON STOCKS - 1.60% (Cost $13,517) |
||||||||
Aker Solutions ASAA |
271,430 | 6,550 | ||||||
Statoil ASA |
266,630 | 7,801 | ||||||
Telenor ASA |
640,840 | 11,072 | ||||||
Total Norway |
25,423 | |||||||
PORTUGAL - 0.58% |
||||||||
COMMON STOCKS - 0.58% (Cost $5,853) |
||||||||
Portugal Telecom SGPS S.A. |
747,760 | 9,128 | ||||||
SINGAPORE - 2.34% |
||||||||
COMMON STOCKS - 2.34% (Cost $22,314) |
||||||||
DBS Group Holdings Ltd. |
1,898,060 | 23,228 | ||||||
Singapore Telecommunications Ltd. |
3,428,000 | 8,738 | ||||||
United Overseas Bank Ltd. |
321,000 | 5,145 | ||||||
Total Singapore |
37,111 | |||||||
SOUTH KOREA - 2.46% |
||||||||
COMMON STOCKS - 2.46% (Cost $24,294) |
||||||||
Hyundai Heavy Industries Co Ltd. |
18,721 | 9,346 | ||||||
Hyundai Mobis |
12,664 | 4,242 | ||||||
KB Financial Group, Inc., ADRB |
143,018 | 7,621 | ||||||
KT&G Corp. |
174,380 | 10,318 | ||||||
LG Electronics, Inc. |
33,975 | 3,265 | ||||||
Samsung Electronics Co Ltd., GDRE F |
10,114 | 4,202 | ||||||
Total South Korea |
38,994 | |||||||
SPAIN - 3.61% |
||||||||
COMMON STOCKS - 3.61% (Cost $41,707) |
||||||||
Amadeus IT Holding S.A., A Shares |
221,700 | 4,643 | ||||||
Banco Santander S.A. |
884,366 | 11,295 | ||||||
Enagas S.A. |
332,547 | 8,228 | ||||||
Gamesa Corp Tecnologica S.A. |
537,029 | 5,049 | ||||||
Iberdrola S.A. |
720,388 | 6,690 | ||||||
Repsol YPF S.A. |
257,990 | 9,213 | ||||||
Tecnicas Reunidas S.A. |
83,252 | 5,226 | ||||||
Telefonica S.A. |
259,268 | 6,970 | ||||||
Total Spain |
57,314 | |||||||
SWEDEN - 1.84% |
||||||||
COMMON STOCKS - 1.84% (Cost $20,878) |
||||||||
Assa Abloy AB |
110,800 | 3,326 | ||||||
Skandinaviska Enskilda Banken AB, A Shares |
768,910 | 7,393 | ||||||
Swedbank AB |
258,100 | 4,895 | ||||||
Telefonaktiebolaget LM Ericsson, B Shares |
898,630 | 13,646 | ||||||
Total Sweden |
29,260 | |||||||
SWITZERLAND - 7.84% |
||||||||
COMMON STOCKS - 7.84% (Cost $105,450) |
||||||||
Adecco S.A. |
69,120 | 4,934 | ||||||
Givaudan S.A. |
8,771 | 9,755 | ||||||
Julius Baer Group Ltd. |
75,000 | 3,505 | ||||||
Nestle S.A. |
67,550 | 4,194 | ||||||
Novartis AG |
601,310 | 35,695 | ||||||
Roche Holding AG |
153,510 | 24,899 | ||||||
Swiss Reinsurance Co. Ltd. |
100,960 | 6,017 | ||||||
UBS AG |
1,404,024 | 28,064 | ||||||
Zurich Financial Services AG |
26,423 | 7,423 | ||||||
Total Switzerland |
124,486 | |||||||
UNITED KINGDOM - 20.66% |
||||||||
COMMON STOCKS - 20.66% (Cost $260,660) |
||||||||
Anglo American plc |
104,458 | 5,445 | ||||||
Aviva plc |
1,725,862 | 12,880 | ||||||
BAE Systems plc |
1,267,054 | 6,940 | ||||||
Balfour Beatty plc |
799,846 | 4,379 | ||||||
Barclays plc |
1,148,487 | 5,416 | ||||||
BG Group plc |
137,442 | 3,521 | ||||||
BHP Billiton plc |
206,292 | 8,699 | ||||||
BP plc |
1,563,839 | 12,082 | ||||||
British American Tobacco plc |
423,629 | 18,476 | ||||||
Diageo plc |
188,780 | 3,841 | ||||||
Eurasian Natural Resources Corp plc |
288,256 | 4,389 | ||||||
GlaxoSmithKline plc |
1,056,382 | 23,036 | ||||||
Home Retail Group plc |
2,002,916 | 7,357 | ||||||
HSBC Holdings plc |
1,318,252 | 14,431 | ||||||
Informa plc |
870,343 | 6,058 | ||||||
International Power plc |
597,900 | 3,302 | ||||||
Kingfisher plc |
1,370,800 | 6,285 | ||||||
Lloyds Banking Group plc |
4,600,244 | 4,553 | ||||||
Marks & Spencer Group plc |
646,520 | 4,190 | ||||||
Michael Page International plc |
685,409 | 6,320 | ||||||
Pearson plc |
305,380 | 5,871 | ||||||
Petrofac Ltd. |
107,812 | 2,719 | ||||||
Prudential plc |
744,080 | 9,607 | ||||||
Resolution Ltd. |
1,398,029 | 7,069 | ||||||
Rexam plc |
1,625,299 | 10,604 | ||||||
Rio Tinto plc |
130,610 | 9,511 | ||||||
Rolls-Royce Group plcC |
177,126,365 | 19,859 | ||||||
Royal Dutch Shell plc, A Shares |
299,638 | 11,624 | ||||||
Royal Dutch Shell plc, B Shares |
299,206 | 11,630 | ||||||
Standard Chartered plc |
379,252 | 10,509 | ||||||
Tesco plc |
779,330 | 5,253 | ||||||
Unilever plc |
674,242 | 21,871 | ||||||
Vodafone Group plc |
7,927,941 | 22,724 | ||||||
WM Morrison Supermarkets plc |
929,100 | 4,575 | ||||||
WPP plc |
352,600 | 4,603 |
16
Shares | Value | |||||||
($000) | ||||||||
Xstrata plc |
326,530 | 8,299 | ||||||
Total United Kingdom |
327,928 | |||||||
UNITED STATES - 0.37% |
||||||||
COMMON STOCKS - 0.37% (Cost $8,673) |
||||||||
Flextronics International Ltd.C |
848,510 | 5,914 | ||||||
SHORT-TERM INVESTMENTS - 2.29% (Cost $36,307) |
||||||||
JPMorgan U.S. Government Money Market Fund |
36,307,130 | 36,307 | ||||||
SECURITIES LENDING COLLATERAL - 4.99% (Cost
$79,228) |
||||||||
Wells Fargo Advantage Government Money
Market Fund |
7,000,000 | 7,000 | ||||||
American Beacon U.S. Government Money Market
Select FundG |
72,228,163 | 72,228 | ||||||
Total Securities Lending Collateral |
79,228 | |||||||
TOTAL INVESTMENTS - 103.82% (Cost $1,358,041) |
1,647,855 | |||||||
LIABILITIES, NET OF OTHER ASSETS (3.82%) |
(60,672 | ) | ||||||
TOTAL NET ASSETS - 100.00% |
$ | 1,587,183 | ||||||
A | All or a portion of this security is on loan at April 30, 2011. | |
B | ADR American Depositary Receipt | |
C | Non-income producing security. | |
D | Private Placement | |
E | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $4,202 or 0.27% of net assets. The Fund has no right to demand registration of these securities | |
F | GDR Global Depositary Receipt | |
G | The Fund is affiliated by having the same investment advisor. |
Unrealized | ||||||||||||||||
Appreciation/ | ||||||||||||||||
Number of Contracts | Expiration Date | Value | (Depreciation) | |||||||||||||
France CAC 40 Index |
83 | June, 2011 | 4,938 | 290 | ||||||||||||
Germany DAX Index |
15 | June, 2011 | 4,189 | 365 | ||||||||||||
UK FTSE 100 Index |
106 | June, 2011 | 10,667 | 488 | ||||||||||||
Hang Seng Index |
8 | May, 2011 | 1,209 | (23 | ) | |||||||||||
Italy MIB 30 Index |
9 | June, 2011 | 1,474 | 47 | ||||||||||||
Tokyo FE TOPIX Index |
101 | June, 2011 | 10,624 | 101 | ||||||||||||
Spain IBEX 35 Index |
11 | May, 2011 | 1,751 | 13 | ||||||||||||
Sweden OMX Index |
82 | May, 2011 | 1,575 | 40 | ||||||||||||
Canada S&PCDA 60 Index |
34 | June, 2011 | 5,711 | 21 | ||||||||||||
Australia SPI Index |
32 | June, 2011 | 4,209 | 40 | ||||||||||||
Netherlands 200 AEX Index |
12 | May, 2011 | 1,273 | (1 | ) | |||||||||||
47,621 | 1,382 | |||||||||||||||
17
Unrealized Gain/ | ||||||||||||||||
Contracts To Deliver | Settlement Date | Market Value | (Loss) | |||||||||||||
1,309 |
Canadian Dollar | 6/17/2011 | 1,382 | (35 | ) | |||||||||||
734 |
Swiss Franc | 6/17/2011 | 849 | (54 | ) | |||||||||||
2,221 |
Euro Currency | 6/17/2011 | 3,286 | (156 | ) | |||||||||||
1,517 |
Pound Sterling | 6/17/2011 | 2,532 | (86 | ) | |||||||||||
216,605 |
Japanese Yen | 6/17/2011 | 2,671 | (58 | ) | |||||||||||
2,259 |
Swedish Krona | 6/17/2011 | 373 | (17 | ) | |||||||||||
946 |
Australian Dollar | 6/17/2011 | 1,031 | (72 | ) | |||||||||||
Total contracts to deliver |
$ | 12,124 | (478 | ) | ||||||||||||
(Receivable amount $11,646) |
||||||||||||||||
Unrealized Gain/ | ||||||||||||||||
Contracts To Receive | Settlement Date | Market Value | (Loss) | |||||||||||||
5,209 |
Canadian Dollar | 6/17/2011 | 5,500 | 193 | ||||||||||||
3,627 |
Swiss Franc | 6/17/2011 | 4,194 | 276 | ||||||||||||
8,805 |
Euro Currency | 6/17/2011 | 13,025 | 855 | ||||||||||||
6,258 |
Pound Sterling | 6/17/2011 | 10,447 | 428 | ||||||||||||
821,825 |
Japanese Yen | 6/17/2011 | 10,134 | 43 | ||||||||||||
9,368 |
Swedish Krona | 6/17/2011 | 1,547 | 90 | ||||||||||||
3,850 |
Australian Dollar | 6/17/2011 | 4,196 | 403 | ||||||||||||
Total contracts to recieve |
$ | 49,043 | 2,288 | |||||||||||||
(Payable amount $(46,755)) |
||||||||||||||||
Net Currency Fluctuation |
1,810 | |||||||||||||||
18
Emerging | International | |||||||
Markets Fund | Equity Fund | |||||||
Assets: |
||||||||
Investments in unaffiliated securities, at value A D |
$ | 166,706 | $ | 1,575,627 | ||||
Investments in affiliated securities, at value B |
| 72,228 | ||||||
Foreign currency, at value C |
1,103 | 2,039 | ||||||
Cash |
| 24 | ||||||
Deposit with brokers for futures contracts |
757 | 6,356 | ||||||
Receivable for investments sold |
1,042 | 9,829 | ||||||
Dividends and interest receivable |
617 | 7,553 | ||||||
Receivable for fund shares sold |
221 | 2,074 | ||||||
Receivable for tax reclaims |
5 | 1,632 | ||||||
Receivable for expense reimbursement (Note 2) |
5 | | ||||||
Receivable for variation margin on open futures contracts |
53 | 33 | ||||||
Net unrealized Appreciation on foreign currency contracts |
| 1,810 | ||||||
Prepaid expenses |
56 | 79 | ||||||
Total assets |
170,565 | 1,679,284 | ||||||
Liabilities: |
||||||||
Payable for investments purchased |
518 | 10,270 | ||||||
Payable upon return of securities loaned |
| 79,228 | ||||||
Payable for fund shares redeemed |
11 | 1,355 | ||||||
Management and investment advisory fees payable (Note 2) |
97 | 405 | ||||||
Administrative service and service fees payable (Note 2) |
14 | 428 | ||||||
Professional fees payable |
7 | 39 | ||||||
Trustee fees payable |
2 | 29 | ||||||
Prospectus and shareholder reports |
| 148 | ||||||
Other liabilities |
8 | 199 | ||||||
Total liabilities |
657 | 92,101 | ||||||
Net Assets |
$ | 169,908 | $ | 1,587,183 | ||||
Analysis of Net Assets: |
||||||||
Paid-in-capital |
137,657 | 1,449,619 | ||||||
Undistributed net investment income |
(118 | ) | 19,050 | |||||
Accumulated net realized gain (loss) |
6,675 | (175,127 | ) | |||||
Unrealized appreciation of investments, futures contracts, and foreign
currency |
25,694 | 293,641 | ||||||
Net assets |
$ | 169,908 | $ | 1,587,183 | ||||
Shares outstanding (no par value): |
||||||||
Institutional Class |
587,429 | 31,803,168 | ||||||
Y Class |
362,054 | 36,604 | ||||||
Investor Class |
842,608 | 28,226,610 | ||||||
Advisor Class |
N/A | 86,147 | ||||||
Retirement Class |
N/A | 86 | ||||||
AMR Class |
9,108,115 | 26,197,042 | ||||||
A Class |
3,860 | 1,378 | ||||||
C Class |
671 | 579 | ||||||
Net asset value, offering and redemption price per share: |
||||||||
Institutional Class |
$ | 15.51 | $ | 18.43 | ||||
Y Class |
$ | 15.62 | $ | 19.10 | ||||
Investor Class |
$ | 15.27 | $ | 18.26 | ||||
Advisor Class |
N/A | $ | 18.78 | |||||
Retirement Class |
N/A | $ | 18.68 | |||||
AMR Class |
$ | 15.61 | $ | 18.45 | ||||
A Class (net asset value and redemption price) |
$ | 15.30 | $ | 18.53 | ||||
A Class (offering price) |
$ | 16.23 | $ | 19.66 | ||||
C Class |
$ | 15.24 | $ | 18.47 | ||||
A Cost of investments in unaffiliated securities |
$ | 141,245 | $ | 1,285,813 | ||||
B Cost of investments in affiliated securities |
$ | | $ | 72,228 | ||||
C Cost of foreign currency |
$ | 1,090 | $ | 1,986 | ||||
D Market value of securities on loan |
$ | | $ | 75,812 |
19
Emerging | International | |||||||
Markets Fund | Equity Fund | |||||||
Investment Income: |
||||||||
Dividend income from unaffiliated securities (net of foreign taxes) A |
$ | 1,600 | $ | 21,893 | ||||
Interest income |
4 | 12 | ||||||
Income derived from securities lending, net |
| 243 | ||||||
Total investment income |
1,604 | 22,148 | ||||||
Expenses: |
||||||||
Management and investment advisory fees (Note 2) |
622 | 2,323 | ||||||
Administrative service fees (Note 2): |
||||||||
Institutional Class |
15 | 811 | ||||||
Y Class |
7 | 1 | ||||||
Investor Class |
19 | 708 | ||||||
Advisor Class |
| 2 | ||||||
AMR Class |
35 | 115 | ||||||
Transfer agent fees: |
||||||||
Institutional Class |
| 18 | ||||||
Y Class |
2 | | ||||||
Investor Class |
1 | 19 | ||||||
AMR Class |
4 | 13 | ||||||
A Class |
2 | 2 | ||||||
C Class |
2 | 2 | ||||||
Custody and fund accounting fees |
321 | 307 | ||||||
Professional fees |
18 | 52 | ||||||
Registration fees and expenses |
37 | 67 | ||||||
Service fees (Note 2): |
||||||||
Y Class |
2 | | ||||||
Investor Class |
15 | 848 | ||||||
Advisor Class |
| 2 | ||||||
Distribution fees (Note 2): |
||||||||
Advisor Class |
| 2 | ||||||
Prospectus and shareholder reports |
10 | 88 | ||||||
Trustee fees |
5 | 52 | ||||||
Other expenses |
18 | 93 | ||||||
Total expenses |
1,135 | 5,525 | ||||||
Net (fees waived and expenses reimbursed) (Note 2) |
(21 | ) | (3 | ) | ||||
Net expenses |
1,114 | 5,522 | ||||||
Net investment income |
490 | 16,626 | ||||||
Realized and unrealized gain (loss) on investments: |
||||||||
Net realized gain (loss) from: B |
||||||||
Investments |
15,922 | 28,287 | ||||||
Commission recapture (Note 1) |
| 28 | ||||||
Foreign currency transactions |
1,857 | 24,835 | ||||||
Futures contracts |
1,001 | 4,817 | ||||||
Change in net unrealized appreciation or depreciation of: |
||||||||
Investments |
(9,571 | ) | 70,409 | |||||
Foreign currency translations |
2,030 | 45,870 | ||||||
Futures contracts |
(184 | ) | 542 | |||||
Net gain on investments |
11,055 | 174,788 | ||||||
Net increase in net assets resulting from operations |
$ | 11,545 | $ | 191,414 | ||||
A Foreign taxes |
$ | 166 | $ | 1,842 | ||||
B Net of foreign withholding taxes on capital gains |
$ | | $ | |
20
Emerging Markets Fund | International Equity Fund | |||||||||||||||
Six Months Ended | Year Ended | Six Months Ended | Year Ended | |||||||||||||
April 30, 2011 | October 31, 2010 | April 30, 2011 | October 31, 2010 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
Increase (Decrease) in Net Assets: |
||||||||||||||||
Operations: |
||||||||||||||||
Net investment income |
$ | 490 | $ | 1,026 | $ | 16,626 | $ | 29,764 | ||||||||
Net realized gain on investments, futures contracts, and
foreign currency transactions |
18,780 | 19,496 | 57,967 | 35,831 | ||||||||||||
Change in net unrealized appreciation or depreciation of
investments, futures contracts, and foreign currency
translations |
(7,725 | ) | 8,049 | 116,821 | 81,056 | |||||||||||
Net increase in net assets resulting from operations |
11,545 | 28,571 | 191,414 | 146,651 | ||||||||||||
Distributions to Shareholders: |
||||||||||||||||
Net investment income: |
||||||||||||||||
Institutional Class |
(85 | ) | (130 | ) | (14,155 | ) | (15,298 | ) | ||||||||
Y Class |
| | (7 | ) | | |||||||||||
Investor Class |
(43 | ) | (131 | ) | (8,721 | ) | (12,702 | ) | ||||||||
Advisor Class |
| | (13 | ) | | |||||||||||
AMR Class |
(942 | ) | (1,717 | ) | (15,008 | ) | (14,360 | ) | ||||||||
Net distributions to shareholders |
(1,070 | ) | (1,978 | ) | (37,904 | ) | (42,360 | ) | ||||||||
Capital Share Transactions: |
||||||||||||||||
Proceeds from sales of shares |
35,245 | 19,983 | 119,113 | 253,975 | ||||||||||||
Reinvestment of dividends and distributions |
1,067 | 1,969 | 35,604 | 39,420 | ||||||||||||
Cost of shares redeemed |
(27,259 | ) | (27,910 | ) | (182,906 | ) | (304,686 | ) | ||||||||
Redemption fees |
22 | 36 | 29 | 177 | ||||||||||||
Net increase (decrease) in net assets from capital
share transactions |
9,075 | (5,922 | ) | (28,160 | ) | (11,114 | ) | |||||||||
Net increase in net assets |
19,550 | 20,671 | 125,350 | 93,177 | ||||||||||||
Net Assets: |
||||||||||||||||
Beginning of period |
150,358 | 129,687 | 1,461,833 | 1,368,656 | ||||||||||||
End of Period * |
$ | 169,908 | $ | 150,358 | $ | 1,587,183 | $ | 1,461,833 | ||||||||
* Includes undistributed net investment income (loss) of |
$ | (118 | ) | $ | 408 | $ | 19,050 | $ | 32,347 | |||||||
21
Class: | Offered to: | |
Institutional Class
|
Investors making an initial investment of $250,000 | |
Y Class
|
Investors making an initial investment of $100,000 | |
Investor Class
|
General public and investors investing through an intermediary | |
Advisor Class
|
Investors investing through an intermediary | |
Retirement Class
|
Investors investing through an intermediary | |
A Class
|
General public and investors investing through an intermediary with applicable sales charges | |
C Class
|
General public and investors investing through an intermediary with applicable sales charges | |
AMR Class
|
Investors in the tax-exempt retirement and benefit plans of the Manager, AMR Corporation, and its affiliates |
22
Emerging Markets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks |
$ | 156,925 | $ | | $ | | $ | 156,925 | ||||||||
Preferred Stocks |
5,596 | | | 5,596 | ||||||||||||
Short Term Investments |
4,185 | | | 4,185 | ||||||||||||
Total Investments in Securities |
$ | 166,706 | $ | | $ | | $ | 166,706 | ||||||||
Futures Contracts |
208 | | | 208 |
International Equity | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks |
$ | 1,532,320 | $ | | $ | | $ | 1,532,320 | ||||||||
Short Term Investments |
36,307 | | | 36,307 | ||||||||||||
Securities Lending Collateral |
79,228 | | | 79,228 | ||||||||||||
Total Investments in Securities |
$ | 1,647,855 | $ | | $ | | $ | 1,647,855 | ||||||||
Forward Exchange Contracts Assets |
$ | 2,288 | $ | | $ | | $ | 2,288 | ||||||||
Forward Exchange Contracts Liabilities |
(478 | ) | | | (478 | ) | ||||||||||
Futures Contracts |
1,382 | 1,382 |
23
24
Liability | ||||||
Statement of Assets and Liabilities | Derivatives | Fair Value | ||||
Unrealized appreciation of investments, futures contracts, and foreign currency
|
Equity Contracts* | $ | 208 |
Statement of Operations | Derivative | Fair Value | ||||
Net realized gain (loss) from futures contracts
|
Equity Contracts | $ | 1,001 | |||
Change in net unrealized appreciation or depreciation of futures contracts
|
Equity Contracts | (184 | ) |
Statement of Assets and Liabilities | Asset Derivatives | Fair Value | ||||
Foreign Exchange | ||||||
Net unrealized appreciation on foreign currency contracts
|
Currency Contracts | $ | 2,288 | |||
Unrealized appreciation of investments, futures contracts, and foreign currency
|
Equity Contracts* | 1,382 |
Liability Derivatives | Fair Value | |||||
Foreign Exchange | ||||||
Net unrealized appreciation on foreign currency contracts
|
Currency Contracts | $ | (478 | ) |
Statement of Operations | Derivative | Fair Value | ||||
Net realized gain (loss) from futures contracts
|
Equity Contracts | $ | 4,817 | |||
Change in net unrealized appreciation or depreciation of futures contracts
|
Equity Contracts | 542 |
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedule of Investments footnotes. Only current days variation margin is reported within the Statements of Assets and Liabilities. |
25
Amounts paid to | Net Amounts | |||||||||||||||
Management | Management | Investment | Retained by | |||||||||||||
Fee Rate | Fee | Advisors | Manager | |||||||||||||
Emerging Markets |
0.60%-0.95 | % | $ | 622 | $ | 581 | $ | 41 | ||||||||
International Equity |
0.20%-0.55 | % | $ | 2,323 | $ | 1,955 | $ | 368 |
26
Securities Lending | ||||||||||||
Direct Investments in | Collateral Invested | |||||||||||
Select Funds | in Select Funds | Total | ||||||||||
International Equity Fund |
$ | 1,753 | $ | 9,854 | $ | 11,607 |
27
Expense Cap | ||||||||||
11/1/10 | 3/1/11 | Waived or | ||||||||
to | to | Reimbursed | ||||||||
Fund | Class | 2/28/11 | 4/30/11 | Expenses | ||||||
Emerging Markets |
Institutional | 1.35% | 1.35% | $ | 9,699 | |||||
Emerging Markets |
Y | 1.45% | 1.45% | 6,824 | ||||||
Emerging Markets |
Investor | 1.79% | 1.79% | 1,689 | ||||||
Emerging Markets |
A | 1.79% | 1.79% | 1,690 | ||||||
Emerging Markets |
C | 2.54% | 2.54% | 1,652 | ||||||
International Equity |
A | | 1.25% | 1,657 | ||||||
International Equity |
C | | 1.99% | 1,649 |
28
Emerging Markets | International Equity | |||||||||||||||
Six Months Ended | Year Ended | Six Months Ended | Year Ended | |||||||||||||
April 30, | October 31, | April 30, | October 31, | |||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
Distributions paid from: |
||||||||||||||||
Ordinary income* |
||||||||||||||||
Institutional Class |
$ | 85 | $ | 130 | $ | 14,155 | $ | 15,298 | ||||||||
Y Class |
| | 7 | | ||||||||||||
Investor Class |
43 | 131 | 8,721 | 12,702 | ||||||||||||
Advisor Class |
| | 13 | | ||||||||||||
AMR Class |
942 | 1,717 | 15,008 | 14,360 | ||||||||||||
A Class |
| | | | ||||||||||||
C Class |
| | | | ||||||||||||
Total distributions paid |
$ | 1,070 | $ | 1,978 | $ | 37,904 | $ | 42,360 | ||||||||
* | For tax purposes, short-term capital gains are considered ordinary income distributions. |
Emerging Markets | International Equity | |||||||
Cost basis of investments for federal income tax purposes |
$ | 147,548 | $ | 1,381,402 | ||||
Unrealized appreciation |
26,607 | 328,775 | ||||||
Unrealized depreciation |
(7,449 | ) | (62,322 | ) | ||||
Net unrealized appreciation |
19,158 | 266,453 | ||||||
Undistributed ordinary income |
489 | 22,857 | ||||||
Undistributed long-term gain |
12,372 | (156,603 | ) | |||||
Other temporary differences |
232 | 4,857 | ||||||
Distributable earnings |
$ | 32,251 | $ | 137,564 | ||||
Emerging Markets | International Equity | |||||||
Paid-in-capital |
$ | (1 | ) | $ | 210 | |||
Undistributed net investment income |
54 | 7,981 | ||||||
Accumulated net realized gain (loss) |
(63 | ) | (8,191 | ) | ||||
Unrealized depreciation of investments, futures contracts and foreign currency |
| |
29
Emerging | International | |||||||
Markets | Equity | |||||||
Purchases |
$ | 119,615 | $ | 288,194 | ||||
Sales and maturities |
$ | 109,444 | $ | 321,053 |
October 31, 2010 | April 30, 2011 | |||||||||||||||||||
Affiliated Fund | Shares/Market Value | Purchases | Sales | Shares/Market Value | ||||||||||||||||
International Equity |
USG Select Fund | $ | 4,370 | 337,585 | $ | 269,727 | $ | 72,228 |
30
Market Value of Securities on Loan |
Non-Cash Collateral | Cash Collateral Posted by Borrower | ||
$75,812 | $ | $79,228 |
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||
Emerging Markets Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
101 | $ | 1,489 | 375 | $ | 5,536 | 134 | $ | 1,954 | |||||||||||||||
Reinvestment of dividends |
5 | 84 | | | 3 | 41 | ||||||||||||||||||
Shares redeemed |
(139 | ) | (2,001 | )* | (14 | ) | (206 | )* | (168 | ) | (2,436 | )* | ||||||||||||
Net increase (decrease)
in shares outstanding |
(33 | ) | $ | (428 | ) | 361 | $ | 5,330 | (31 | ) | $ | (441 | ) | |||||||||||
AMR Class | A Class | C Class | ||||||||||||||||||||||
Emerging Markets Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
1,764 | $ | 26,204 | 4 | $ | 54 | 1 | $ | 8 | |||||||||||||||
Reinvestment of dividends |
63 | 942 | | | | | ||||||||||||||||||
Shares redeemed |
(1,534 | ) | (22,594 | )* | | | * | | | * | ||||||||||||||
Net increase (decrease)
in shares outstanding |
293 | $ | 4,552 | 4 | $ | 54 | 1 | $ | 8 | |||||||||||||||
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
International Equity Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
2,837 | $ | 48,280 | 22 | $ | 399 | 3,250 | $ | 55,146 | 58 | $ | 986 | ||||||||||||||||||||
Reinvestment of dividends |
732 | 11,984 | | 7 | 529 | 8,593 | 1 | 13 | ||||||||||||||||||||||||
Shares redeemed |
(3,431 | ) | (58,666 | )* | | (7 | )* | (3,796 | ) | (64,100 | )* | (17 | ) | (300 | )* | |||||||||||||||||
Net increase (decrease)
in shares outstanding |
138 | $ | 1,598 | 22 | $ | 399 | (17 | ) | $ | (361 | ) | 42 | $ | 699 | ||||||||||||||||||
Retirement Class | AMR Class | A Class | C Class | |||||||||||||||||||||||||||||
International Equity Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
| $ | | 833 | $ | 14,274 | 1 | $ | 19 | 1 | $ | 9 | ||||||||||||||||||||
Reinvestment of dividends |
| | 917 | 15,007 | | | | | ||||||||||||||||||||||||
Shares redeemed |
| | (3,532 | ) | (59,804 | )* | | | * | | | * | ||||||||||||||||||||
Net increase (decrease)
in shares outstanding |
| $ | | (1,782 | ) | $ | (30,523 | ) | 1 | $ | 19 | 1 | $ | 9 | ||||||||||||||||||
31
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||
Emerging Markets Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
76 | $ | 969 | 1 | $ | 11 | 344 | $ | 4,388 | |||||||||||||||
Reinvestment of dividends |
10 | 125 | | | 10 | 127 | ||||||||||||||||||
Shares redeemed |
(260 | ) | (3,540 | )* | | | * | (348 | ) | (4,368 | )* | |||||||||||||
Net increase (decrease)
in shares outstanding |
(174 | ) | $ | (2,446 | ) | 1 | $ | 11 | 6 | $ | 147 | |||||||||||||
AMR Class | A Class | C Class | ||||||||||||||||||||||
Emerging Markets Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
1,102 | $ | 14,612 | | $ | 2 | | $ | 1 | |||||||||||||||
Reinvestment of dividends |
137 | 1,717 | | | | | ||||||||||||||||||
Shares redeemed |
(1,572 | ) | (19,966 | )* | | | * | | | * | ||||||||||||||
Net increase (decrease)
in shares outstanding |
(333 | ) | $ | (3,637 | ) | | $ | 2 | | $ | 1 | |||||||||||||
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
International Equity Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
5,496 | $ | 83,841 | 15 | $ | 227 | 7,001 | $ | 105,328 | 20 | $ | 300 | ||||||||||||||||||||
Reinvestment of dividends |
802 | 12,580 | | | 806 | 12,480 | | | ||||||||||||||||||||||||
Shares redeemed |
(6,209 | ) | (96,106 | )* | (1 | ) | (9 | )* | (8,688 | ) | (132,955 | )* | (89 | ) | (1,424 | )* | ||||||||||||||||
Net increase (decrease)
in shares outstanding |
89 | $ | 315 | 14 | $ | 218 | (881 | ) | $ | (15,147 | ) | (69 | ) | $ | (1,124 | ) | ||||||||||||||||
Retirement Class | AMR Class | A Class | C Class | |||||||||||||||||||||||||||||
International Equity Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
| $ | | 4,214 | $ | 64,274 | | $ | 4 | | $ | 1 | ||||||||||||||||||||
Reinvestment of dividends |
| | 912 | 14,360 | | | | | ||||||||||||||||||||||||
Shares redeemed |
| | * | (4,789 | ) | (74,015 | )* | | | * | | | * | |||||||||||||||||||
Net increase (decrease)
in shares outstanding |
| $ | | 337 | $ | 4,619 | | $ | 4 | | $ | 1 | ||||||||||||||||||||
* | Net of Redemption Fees |
32
33
Y Class | ||||||||||||||||||||||||||||||||
Institutional Class | Six Months Ended | March 01 to | ||||||||||||||||||||||||||||||
Six Months Ended | Year Ended October 31, | April 30, | October 31, | |||||||||||||||||||||||||||||
April 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2011 | 2010 | |||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 14.55 | $ | 11.95 | $ | 9.00 | $ | 24.20 | $ | 17.42 | $ | 15.10 | $ | 14.53 | $ | 12.29 | ||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
0.03 | 0.13 | 0.05 | 0.23 | 0.26 | 0.11 | 0.00 | 0.04 | ||||||||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
1.06 | 2.63 | 4.42 | (11.78 | ) | 9.11 | 4.63 | 1.09 | 2.20 | |||||||||||||||||||||||
Total income (loss) from investment operations |
1.09 | 2.76 | 4.47 | (11.55 | ) | 9.37 | 4.74 | 1.09 | 2.24 | |||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.13 | ) | (0.16 | ) | (0.21 | ) | (0.10 | ) | (0.10 | ) | (0.21 | ) | | | ||||||||||||||||||
Distributions from net realized gains on securities |
| | (1.31 | ) | (3.55 | ) | (2.49 | ) | (2.21 | ) | | | ||||||||||||||||||||
Total distributions |
(0.13 | ) | (0.16 | ) | (1.52 | ) | (3.65 | ) | (2.59 | ) | (2.42 | ) | | | ||||||||||||||||||
Redemption fees added to beneficial interests |
| A | | A | | | | | | A | | A | ||||||||||||||||||||
Net asset value, end of period |
$ | 15.51 | $ | 14.55 | $ | 11.95 | $ | 9.00 | $ | 24.20 | $ | 17.42 | $ | 15.62 | $ | 14.53 | ||||||||||||||||
Total return B,C |
7.50 | %D | 23.36 | % | 60.56 | % | (55.59 | )% | 60.83 | % | 34.58 | % | 7.50 | %D | 18.23 | %D | ||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 9,109 | $ | 9,023 | $ | 9,494 | $ | 5,478 | $ | 13,773 | $ | 16,552 | $ | 5,654 | $ | 13 | ||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||
Expenses, net of waivers |
1.35 | % | 1.39 | % | 1.66 | % | 1.38 | % | 1.60 | % | 1.56 | % | 1.45 | % | 1.42 | %E | ||||||||||||||||
Expenses, before waivers |
1.55 | % | 1.58 | % | 1.66 | % | 1.38 | % | 1.60 | % | 1.56 | % | 1.73 | % | 1.82 | %E | ||||||||||||||||
Net investment income (loss), net of waivers |
0.52 | % | 0.77 | % | 0.95 | % | 1.35 | % | 0.93 | % | 0.80 | % | 0.56 | % | 0.79 | %E | ||||||||||||||||
Net investment income (loss), before waivers |
0.32 | % | 0.58 | % | 0.95 | % | 1.35 | % | 0.93 | % | 0.80 | % | 0.28 | % | 0.40 | %E | ||||||||||||||||
Portfolio turnover rate |
70 | %D | 64 | % | 70 | % | 82 | % | 81 | % | 67 | % | 70 | %D | 64 | %F |
A | Amounts represent less than $0.01 per share. | |
B | May include adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. | |
C | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
D | Not annualized. | |
E | Annualized. | |
F | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. | |
G | At the close of business on December 31, 2010, Brandes Investment Partners, L.P. began managing assets of the Fund. |
34
A Class | C Class | |||||||||||||||||||||||||||||||||||||||
Investor Class | Six Months | May 17 | Six Months | September 01 | ||||||||||||||||||||||||||||||||||||
Six Months Ended | Year Ended October 31, | Ended | to | Ended | to | |||||||||||||||||||||||||||||||||||
April 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | April 30, 2011 | October 31, 2010 | April 30, 2011 | October 31, 2010 | |||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||||||||
$ | 14.29 | $ | 11.77 | $ | 8.85 | $ | 23.91 | $ | 17.22 | $ | 14.98 | $ | 14.27 | $ | 12.10 | $ | 14.26 | $ | 12.89 | |||||||||||||||||||||
0.01 | 0.04 | 0.04 | 0.17 | 0.11 | 0.09 | 0.02 | 0.02 | 0.02 | (0.02 | ) | ||||||||||||||||||||||||||||||
1.02 | 2.63 | 4.35 | (11.60 | ) | 9.11 | 4.55 | 1.02 | 2.15 | 0.96 | 1.39 | ||||||||||||||||||||||||||||||
1.03 | 2.67 | 4.39 | (11.43 | ) | 9.22 | 4.64 | 1.04 | 2.17 | 0.98 | 1.37 | ||||||||||||||||||||||||||||||
(0.05 | ) | (0.15 | ) | (0.16 | ) | (0.08 | ) | (0.04 | ) | (0.19 | ) | (0.01 | ) | | | | ||||||||||||||||||||||||
| | (1.31 | ) | (3.55 | ) | (2.49 | ) | (2.21 | ) | | | | | |||||||||||||||||||||||||||
(0.05 | ) | (0.15 | ) | (1.47 | ) | (3.63 | ) | (2.53 | ) | (2.40 | ) | (0.01 | ) | | | | ||||||||||||||||||||||||
| A | | A | | | | | | A | | A | | A | | A | |||||||||||||||||||||||||
$ | 15.27 | $ | 14.29 | $ | 11.77 | $ | 8.85 | $ | 23.91 | $ | 17.22 | $ | 15.30 | $ | 14.27 | $ | 15.24 | $ | 14.26 | |||||||||||||||||||||
7.23 | %D | 22.85 | % | 60.24 | % | (55.75 | )% | 60.38 | % | 34.01 | % | 7.33 | %D | 17.93 | %D | 6.87 | %D | 10.63 | %D | |||||||||||||||||||||
$ | 12,865 | $ | 12,478 | $ | 10,208 | $ | 5,183 | $ | 11,694 | $ | 5,841 | $ | 59 | $ | 2 | $ | 10 | $ | 1 | |||||||||||||||||||||
1.79 | % | 1.77 | % | 1.96 | % | 1.72 | % | 1.96 | % | 2.04 | % | 1.75 | % | 1.78 | %E | 2.54 | % | 2.54 | %E | |||||||||||||||||||||
1.82 | % | 1.86 | % | 1.96 | % | 1.72 | % | 1.96 | % | 1.91 | % | 24.45 | % | 2.26 | %E | 69.90 | % | 4.49 | %E | |||||||||||||||||||||
0.15 | % | 0.37 | % | 0.65 | % | 1.00 | % | 0.65 | % | 0.49 | % | 1.80 | % | 0.39 | %E | 0.10 | % | (0.96) | %E | |||||||||||||||||||||
0.13 | % | 0.29 | % | 0.65 | % | 1.00 | % | 0.65 | % | 0.62 | % | (20.90 | )% | (0.10) | %E | (67.26 | )% | (2.91) | %E | |||||||||||||||||||||
70 | %D | 64 | % | 70 | % | 82 | % | 81 | % | 67 | % | 70 | %D | 64 | %F | 70 | %D | 64 | %F |
35
AMR Class | ||||||||||||||||||||||||
Six Months Ended | Year Ended October 31, | |||||||||||||||||||||||
April 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 14.62 | $ | 12.02 | $ | 9.06 | $ | 24.37 | $ | 17.52 | $ | 15.17 | ||||||||||||
Income from investment operations: |
||||||||||||||||||||||||
Net investment income (loss) |
0.04 | 0.11 | 0.09 | 0.33 | 0.19 | 0.15 | ||||||||||||||||||
Net gains (losses) on securities (both realized and
unrealized) |
1.04 | 2.68 | 4.43 | (11.91 | ) | 9.30 | 4.65 | |||||||||||||||||
Total income (loss) from investment operations |
1.08 | 2.79 | 4.52 | (11.58 | ) | 9.49 | 4.80 | |||||||||||||||||
Less distributions: |
||||||||||||||||||||||||
Dividends from net investment income |
(0.09 | ) | (0.19 | ) | (0.25 | ) | (0.18 | ) | (0.15 | ) | (0.24 | ) | ||||||||||||
Distributions from net realized gains on securities |
| | (1.31 | ) | (3.55 | ) | (2.49 | ) | (2.21 | ) | ||||||||||||||
Total distributions |
(0.09 | ) | (0.19 | ) | (1.56 | ) | (3.73 | ) | (2.64 | ) | (2.45 | ) | ||||||||||||
Redemption fees added to beneficial interests |
| A | | A | | | | | ||||||||||||||||
Net asset value, end of period |
$ | 15.61 | $ | 14.62 | $ | 12.02 | $ | 9.06 | $ | 24.37 | $ | 17.52 | ||||||||||||
Total return B,C |
7.45 | %D | 23.47 | % | 61.01 | % | (55.48 | )% | 61.28 | % | 34.88 | % | ||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 142,211 | $ | 128,841 | $ | 109,985 | $ | 72,516 | $ | 271,726 | $ | 135,146 | ||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||
Expenses, net of waivers |
1.30 | % | 1.34 | % | 1.42 | % | 1.17 | % | 1.37 | % | 1.30 | % | ||||||||||||
Expenses, before waivers |
1.30 | % | 1.34 | % | 1.42 | % | 1.17 | % | 1.37 | % | 1.30 | % | ||||||||||||
Net investment income (loss), net of waivers |
0.64 | % | 0.79 | % | 1.27 | % | 1.46 | % | 1.25 | % | 1.01 | % | ||||||||||||
Net investment income (loss), before waivers |
0.64 | % | 0.79 | % | 1.27 | % | 1.46 | % | 1.25 | % | 1.01 | % | ||||||||||||
Portfolio turnover rate |
70 | %D | 64 | % | 70 | % | 82 | % | 81 | % | 67 | % |
A | Amounts represent less than $0.01 per share. | |
B | May include adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. | |
C | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
D | Not annualized. | |
E | Annualized. | |
F | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. | |
G | At the close of business on December 31, 2010, Brandes Investment Partners, L.P. began managing assets of the Fund |
36
37
Institutional Class | Y Class | |||||||||||||||||||||||||||
Six Months Ended | Year Ended October 31, | Six Months Ended | ||||||||||||||||||||||||||
April 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | April 30, 2011 | ||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 16.67 | $ | 15.51 | $ | 13.13 | $ | 27.32 | $ | 24.68 | $ | 20.98 | $ | 17.17 | ||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||
Net investment incomeA,B |
0.20 | 0.35 | 0.54 | 0.77 | 0.65 | 0.60 | 0.26 | |||||||||||||||||||||
Net gains (losses) on securities (both realized and
unrealized)A |
2.01 | 1.30 | 2.78 | (11.60 | ) | 4.31 | 4.86 | 2.01 | ||||||||||||||||||||
Total income (loss) from investment operations |
2.21 | 1.65 | 3.32 | (10.83 | ) | 4.96 | 5.46 | 2.27 | ||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||
Dividends from net investment income |
(0.45 | ) | (0.49 | ) | (0.61 | ) | (0.70 | ) | (0.50 | ) | (0.43 | ) | (0.34 | ) | ||||||||||||||
Distributions from net realized gains on securities |
| | (0.33 | ) | (2.66 | ) | (1.82 | ) | (1.33 | ) | | |||||||||||||||||
Total distributions |
(0.45 | ) | (0.49 | ) | (0.94 | ) | (3.36 | ) | (2.32 | ) | (1.76 | ) | (0.34 | ) | ||||||||||||||
Redemption fees added to beneficial interestC |
| | 0.00 | 0.00 | 0.00 | 0.00 | | |||||||||||||||||||||
Net asset value, end of period |
$ | 18.43 | $ | 16.67 | $ | 15.51 | $ | 13.13 | $ | 27.32 | $ | 24.68 | $ | 19.10 | ||||||||||||||
Total return D,E |
13.58 | %F | 10.81 | % | 27.44 | % | (44.81 | )% | 21.54 | % | 27.55 | % | 13.49 | %F | ||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 586,018 | $ | 527,718 | $ | 489,837 | $ | 567,414 | $ | 1,686,668 | $ | 1,549,521 | $ | 699 | ||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||
Expenses, net of waiversA |
0.71 | % | 0.71 | % | 0.73 | % | 0.66 | % | 0.67 | % | 0.71 | % | 0.82 | % | ||||||||||||||
Expenses, before waiversA |
0.71 | % | 0.71 | % | 0.73 | % | 0.66 | % | 0.67 | % | 0.71 | % | 0.82 | % | ||||||||||||||
Net investment income, net of waiversA |
2.30 | % | 2.21 | % | 2.76 | % | 2.91 | % | 2.46 | % | 2.52 | % | 2.60 | % | ||||||||||||||
Net investment income (loss), before waiversA |
2.30 | % | 2.21 | % | 2.76 | % | 2.91 | % | 2.46 | % | 2.52 | % | 2.60 | % | ||||||||||||||
Portfolio turnover rateG |
20 | %F | 38 | % | 41 | % | 31 | % | 38 | % | 40 | % | 20 | %F |
A | The per share amounts and ratios reflect income and expenses assuming inclusion of the Funds proportionate share of the income and expenses of the American Beacon International Equity Portfolio through February 28, 2006. | |
B | Class expenses per share were subtracted from net investment income per share for the Fund before class expenses to determine net investment income per share through October 31, 2005. | |
C | Amounts represent less than $0.01 per share. | |
D | May include adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. | |
E | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
F | Not annualized. | |
G | The International Equity Fund invested all of its investable assets in the American Beacon International Equity Portfolio through February 28, 2006. Portfolio turnover rate through February 28, 2006 is that of the American Beacon International Equity Portfolio. | |
H | Portfolio turnover rate is for the period from November 1, 2008 through October 31, 2009. |
38
Investor Class | ||||||||||||||||||||||||||||||||
August 03 to | Six Months Ended | Year Ended October 31, | ||||||||||||||||||||||||||||||
2010 | October 31, 2009 | April 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||||||||||
$ | 15.52 | $ | 14.89 | $ | 16.42 | $ | 15.30 | $ | 12.95 | $ | 26.99 | $ | 24.42 | $ | 20.79 | |||||||||||||||||
0.04 | 0.04 | 0.17 | 0.29 | 0.37 | 0.66 | 0.58 | 0.50 | |||||||||||||||||||||||||
1.61 | 0.59 | 1.98 | 1.27 | 2.87 | (11.41 | ) | 4.26 | 4.84 | ||||||||||||||||||||||||
1.65 | 0.63 | 2.15 | 1.56 | 3.24 | (10.75 | ) | 4.84 | 5.34 | ||||||||||||||||||||||||
| | (0.31 | ) | (0.44 | ) | (0.56 | ) | (0.63 | ) | (0.45 | ) | (0.38 | ) | |||||||||||||||||||
| | | | (0.33 | ) | (2.66 | ) | (1.82 | ) | (1.33 | ) | |||||||||||||||||||||
| | (0.31 | ) | (0.44 | ) | (0.89 | ) | (3.29 | ) | (2.27 | ) | (1.71 | ) | |||||||||||||||||||
| 0.00 | | | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||||||
$ | 17.17 | $ | 15.52 | $ | 18.26 | $ | 16.42 | $ | 15.30 | $ | 12.95 | $ | 26.99 | $ | 24.42 | |||||||||||||||||
10.63 | % | 4.23 | % | 13.35 | %F | 10.36 | % | 27.08 | % | (44.96 | )% | 21.22 | % | 27.20 | % | |||||||||||||||||
$ | 245 | $ | 1 | $ | 515,554 | $ | 463,704 | $ | 445,596 | $ | 426,473 | $ | 909,385 | $ | 771,298 | |||||||||||||||||
0.81 | % | 0.69 | % | 1.07 | % | 1.07 | % | 1.05 | % | 0.92 | % | 0.93 | % | 0.96 | % | |||||||||||||||||
0.81 | % | 0.69 | % | 1.07 | % | 1.07 | % | 1.05 | % | 0.92 | % | 0.93 | % | 0.96 | % | |||||||||||||||||
1.44 | % | 1.00 | % | 1.95 | % | 1.83 | % | 2.45 | % | 2.82 | % | 2.26 | % | 2.25 | % | |||||||||||||||||
1.44 | % | 1.00 | % | 1.95 | % | 1.83 | % | 2.45 | % | 2.82 | % | 2.26 | % | 2.25 | % | |||||||||||||||||
38 | % | 41 | %H | 20 | %F | 38 | % | 41 | % | 31 | % | 38 | % | 40 | % |
39
Advisor Class | Retirement Class | |||||||||||||||||||||||||||||||
Six Months Ended | Year Ended October 31, | Six Months Ended | ||||||||||||||||||||||||||||||
April 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | April 30, 2011 | 2010 | |||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 16.74 | $ | 15.20 | $ | 12.86 | $ | 26.83 | $ | 24.24 | $ | 20.61 | $ | 16.71 | $ | 15.20 | ||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||
Net investment income (loss)A,B |
(0.45 | ) | 0.89 | 0.31 | 0.62 | 0.56 | 0.46 | 0.15 | 0.22 | |||||||||||||||||||||||
Net gains (losses) on securities (both realized and
unrealized)A |
2.66 | 0.65 | 2.86 | (11.35 | ) | 4.20 | 4.76 | 2.04 | 1.29 | |||||||||||||||||||||||
Total income (loss) from investment operations |
2.21 | 1.54 | 3.17 | (10.73 | ) | 4.76 | 5.22 | 2.19 | 1.51 | |||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.17 | ) | | (0.50 | ) | (0.58 | ) | (0.35 | ) | (0.26 | ) | (0.22 | ) | | ||||||||||||||||||
Distributions from net realized gains on securities |
| | (0.33 | ) | (2.66 | ) | (1.82 | ) | (1.33 | ) | | | ||||||||||||||||||||
Total distributions |
(0.17 | ) | | (0.83 | ) | (3.24 | ) | (2.17 | ) | (1.59 | ) | (0.22 | ) | | ||||||||||||||||||
Redemption fees added to beneficial interestC |
| | 0.00 | 0.00 | 0.00 | 0.00 | | | ||||||||||||||||||||||||
Net asset value, end of period |
$ | 18.78 | $ | 16.74 | $ | 15.20 | $ | 12.86 | $ | 26.83 | $ | 24.24 | $ | 18.68 | $ | 16.71 | ||||||||||||||||
Total return D,E |
13.32 | %F | 10.13 | % | 26.58 | % | (45.10 | )% | 21.00 | % | 26.73 | % | 13.28 | %F | 9.93 | % | ||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 1,618 | $ | 746 | $ | 1,722 | $ | 1,546 | $ | 4,932 | $ | 4,740 | $ | 2 | $ | 1 | ||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||
Expenses, net of waiversA |
1.23 | % | 1.26 | % | 1.44 | % | 1.19 | % | 1.12 | % | 1.16 | % | 1.28 | % | 1.47 | % | ||||||||||||||||
Expenses, before waiversA |
1.23 | % | 1.26 | % | 1.45 | % | 1.19 | % | 1.15 | % | 1.19 | % | 1.28 | % | 1.66 | % | ||||||||||||||||
Net investment income, net of waiversA |
1.90 | % | 1.64 | % | 2.26 | % | 2.36 | % | 2.04 | % | 2.09 | % | 1.74 | % | 1.44 | % | ||||||||||||||||
Net investment income (loss), before waiversA |
1.90 | % | 1.64 | % | 2.25 | % | 2.36 | % | 2.01 | % | 2.05 | % | 1.74 | % | 1.25 | % | ||||||||||||||||
Portfolio turnover rateH |
20 | %F | 38 | % | 41 | % | 31 | % | 38 | % | 40 | % | 20 | %F | 38 | % |
A | The per share amounts and ratios reflect income and expenses assuming inclusion of the Funds proportionate share of the income and expenses of the American Beacon International Equity Portfolio through February 28, 2006. | |
B | Class expenses per share were subtracted from net investment income per share for the Fund before class expenses to determine net investment income per share through October 31, 2005. | |
C | Amounts represent less than $0.01 per share. | |
D | May include adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. | |
E | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
F | Not annualized. | |
G | Annualized. | |
H | The International Equity Fund invested all of its investable assets in the American Beacon International Equity Portfolio through February 28, 2006. Portfolio turnover rate through February 28, 2006 is that of the American Beacon International Equity Portfolio. | |
I | Portfolio turnover rate is for the period from November 1, 2008 through October 31, 2009. |
40
AMR Class | A Class | C Class | ||||||||||||||||||||||||||||||||||||||||
May 01 to | Six | Six | May | Six | September | |||||||||||||||||||||||||||||||||||||
October 31, | Months Ended | Year Ended October 31, | Months Ended | 17 to October | Months Ended | 01 to October 31, | ||||||||||||||||||||||||||||||||||||
2009 | April 30, 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | April 30, 2011 | 31, 2010 | April 30, 2011 | 2010 | ||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||||||||||
$ | 11.78 | $ | 16.78 | $ | 15.61 | $ | 13.25 | $ | 27.54 | $ | 24.86 | $ | 21.12 | $ | 16.40 | $ | 14.14 | $ | 16.39 | $ | 14.82 | |||||||||||||||||||||
0.12 | 0.23 | 0.39 | 0.37 | 0.72 | 0.73 | 0.63 | 0.13 | 0.03 | 0.04 | (0.01 | ) | |||||||||||||||||||||||||||||||
3.30 | 2.00 | 1.30 | 2.99 | (11.58 | ) | 4.33 | 4.92 | 2.05 | 2.23 | 2.04 | 1.58 | |||||||||||||||||||||||||||||||
3.42 | 2.23 | 1.69 | 3.36 | (10.86 | ) | 5.06 | 5.55 | 2.18 | 2.26 | 2.08 | 1.57 | |||||||||||||||||||||||||||||||
| (0.56 | ) | (0.52 | ) | (0.67 | ) | (0.77 | ) | (0.56 | ) | (0.48 | ) | (0.05 | ) | | | | |||||||||||||||||||||||||
| | | (0.33 | ) | (2.66 | ) | (1.82 | ) | (1.33 | ) | | | | | ||||||||||||||||||||||||||||
| (0.56 | ) | (0.52 | ) | (1.00 | ) | (3.43 | ) | (2.38 | ) | (1.81 | ) | (0.05 | ) | | | | |||||||||||||||||||||||||
0.00 | | | 0.00 | 0.00 | 0.00 | 0.00 | | | | | ||||||||||||||||||||||||||||||||
$ | 15.20 | $ | 18.45 | $ | 16.78 | $ | 15.61 | $ | 13.25 | $ | 27.54 | $ | 24.86 | $ | 18.53 | $ | 16.40 | $ | 18.47 | $ | 16.39 | |||||||||||||||||||||
29.03 | % | 13.7 | %F | 11.05 | % | 27.70 | % | (44.65 | )% | 21.86 | % | 27.88 | % | 13.31 | %F | 15.98 | %F | 12.83 | %F | 10.59 | %F | |||||||||||||||||||||
$ | 1 | $ | 483,256 | $ | 469,414 | $ | 431,499 | $ | 328,083 | $ | 672,680 | $ | 563,231 | $ | 26 | $ | 4 | $ | 11 | $ | 1 | |||||||||||||||||||||
1.48 | % | 0.46 | % | 0.46 | % | 0.48 | % | 0.41 | % | 0.42 | % | 0.45 | % | 1.20 | % | 1.25 | %G | 2.01 | % | 1.99 | %G | |||||||||||||||||||||
1.48 | % | 0.46 | % | 0.46 | % | 0.48 | % | 0.41 | % | 0.42 | % | 0.45 | % | 20.82 | % | 1.26 | %G | 157.11 | % | 2.60 | %G | |||||||||||||||||||||
1.72 | % | 2.53 | % | 2.45 | % | 3.00 | % | 3.24 | % | 2.77 | % | 2.76 | % | 2.20 | % | 0.98 | %G | 1.99 | % | (0.20) | %G | |||||||||||||||||||||
1.72 | % | 2.53 | % | 2.45 | % | 3.00 | % | 3.24 | % | 2.77 | % | 2.76 | % | (17.42 | )% | 0.96%G | (153.10 | )% | (0.81) | %G | ||||||||||||||||||||||
41 | %I | 20 | %F | 38 | % | 41 | % | 31 | % | 38 | % | 40 | % | 20 | %F | 38 | % | 20 | %F | 38 | % |
41
42
43
44
45
7
|
8 | |
By E-mail: | On the Internet: | |
american_beacon.funds@ambeacon.com | Visit our website at www.americanbeaconfunds.com | |
( | - | |
By Telephone: | By Mail: | |
Institutional, Y, Investor, Advisor and Retirement Classes | American Beacon Funds | |
Call (800) 658-5811 | P.O. Box 219643 | |
AMR ClassSM | Kansas City, MO 64121-9643 | |
Call (800) 345-2345 |
Availability of Quarterly Portfolio Schedules | Availability of Proxy Voting Policy and Records | |
In addition to the Schedule of Investments provided in
each semi-annual and annual report, the Fund files a
complete schedule of its portfolio holdings with the
Securities and Exchange Commission (SEC) on Form N-Q as
of the first and third fiscal quarters. The Funds Forms
N-Q are available on the SECs website at www.sec.gov.
The Forms N-Q may also be reviewed and copied at the
SECs Public Reference Room, 450 Fifth Street, NW,
Washington, DC 20549. Information regarding the operation
of the SECs Public Reference Room may be obtained by
calling 1-800-SEC-0330. A complete schedule of the Funds
portfolio holdings is also available on the Funds
website (www.americanbeaconfunds.com) approximately
twenty days after the end of each month.
|
A description of the policies and procedures the Fund uses to determine how to vote proxies relating to portfolio securities is available in the Funds Statement of Additional Information, is available free of charge on the Funds website (www.americanbeaconfunds.com) and by calling 1-800-967-9009 or by accessing the SECs website at www.sec.gov. The Funds proxy voting record for the most recent year ended June 30 is filed annually with the SEC on Form N-PX. The Funds Forms N-PX are available on the SECs website at www.sec.gov. The Funds proxy voting record may also be obtained by calling 1-800-967-9009. |
Custodian
|
Transfer Agent | Independent | Distributor | |||
State Street
|
Boston Financial Data | Registered | Foreside Fund | |||
Bank and Trust
|
Services | Public | Services, LLC | |||
Boston, Massachusetts
|
Kansas City, Missouri | Accounting | Portland, Maine | |||
Firm | ||||||
Ernst & Young LLP | ||||||
Dallas, Texas |
l V I S I O N l E X P E R I E N C E Semi-Annual Report April 30, 2011 B A L A N C E D F U N D L A R G E C A P G R OWT H F U N D M I D C A P V A L U E F U N D |
1 | ||||
2-8 | ||||
American Beacon Schedules of Investments |
||||
12 | ||||
21 | ||||
24 | ||||
Back Cover |
American Beacon Funds | April 30, 2011 |
Best Regards, |
||||
![]() |
||||
Gene L. Needles, Jr. | ||||
President
American Beacon Funds |
1
2
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional Class(1,8) |
9.65 | % | 10.75 | % | 3.64 | % | 5.84 | % | ||||||||
Y Class (1,2,8) |
9.50 | % | 10.62 | % | 3.60 | % | 5.81 | % | ||||||||
Investor Class(1,8) |
9.46 | % | 10.33 | % | 3.33 | % | 5.55 | % | ||||||||
Advisor Class(1,3,8) |
9.32 | % | 10.16 | % | 3.12 | % | 5.39 | % | ||||||||
A Class with sales
Charge (1,4,8) |
3.09 | % | 3.99 | % | 2.11 | % | 4.92 | % | ||||||||
A Class without sales
Charge (1,4,8) |
9.39 | % | 10.31 | % | 3.33 | % | 5.54 | % | ||||||||
C Class with sales
Charge (1,5,8) |
7.98 | % | 8.57 | % | 3.19 | % | 5.47 | % | ||||||||
C Class without sales
Charge (1,5,8) |
8.98 | % | 9.57 | % | 3.19 | % | 5.47 | % | ||||||||
AMR Class(1,8) |
9.74 | % | 11.03 | % | 3.91 | % | 6.12 | % | ||||||||
Balanced Composite
Index (6) |
10.17 | % | 11.66 | % | 3.79 | % | 5.25 | % | ||||||||
Russell 1000 Value
Index(7) |
17.29 | % | 15.24 | % | 1.40 | % | 4.31 | % | ||||||||
Barclays Capital
Aggregate Index(7) |
0.02 | % | 5.36 | % | 6.33 | % | 5.74 | % | ||||||||
Lipper Mixed-Asset
Target Allocations
Growth Funds Index(7) |
11.79 | % | 14.93 | % | 4.56 | % | 5.25 | % |
* | Not annualized |
1. | Performance shown is historical and may not be indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please call 1-800-967-9009 or visit www.americanbeaconfunds.com Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. | |
2. | Fund performance for the five-year and ten-year periods represents the total returns achieved by the Institutional Class from 4/30/01 up to 3/1/10, the inception date of the Y Class, and the returns of the Y Class since its inception. Expenses of the Institutional Class are lower than those of the Y Class. Therefore, total returns shown may be lower than they would have been had the Y Class been in existence since 4/30/01. | |
3. | Fund performance for the five-year and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 up to 5/31/05, the inception date of the Advisor Class, and the returns of the Advisor Class since its inception. Expenses of the Advisor Class are higher than those of the Investor Class. Therefore, total returns shown may be higher than they would have been had the Advisor Class been in existence since 4/30/01. A portion of the fees charged to the Advisor Class of the Fund was waived in 2005. Performance prior to waiving fees was lower than actual returns shown for 2005. | |
4. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 up to 5/17/10, the inception date of the A Class, and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Investor Class. As a result total returns shown may be higher than they would have been had the A Class been in existence since 4/30/01. A Class has a maximum sales charge of 5.75%. | |
5. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Investor Class from 4/30/01 up to 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the C Class been in existence since 4/30/01. The maximum contingent deferred sales charge for C Class is 1.00% for shares redeemed within one year of the date of purchase. | |
6. | To reflect the Funds allocation of its assets between investment grade fixed-income securities and equity securities, the returns of the Russell 1000 Value Index and the Barclays Capital Aggregate Index have been combined in a 60%/40% proportion. | |
7. | The Russell 1000 Value Index is an unmanaged index of those stocks in the Russell 1000 Index with lower price-to-book ratios and lower forecasted growth values. Russell 1000 Value Index and Russell 1000 Index are registered trademarks of Frank Russell Company. The Barclays Capital Aggregate Index is a market value weighted index of government, corporate, mortgage-backed and asset-backed fixed-rate debt securities of all maturities. The Lipper Mixed-Asset Target Allocation Growth Funds Index tracks the results of the 30 largest mutual funds in the Lipper Mixed-Asset Target Allocation Growth Funds category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
8. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, Investor, Advisor, A, C, and AMR Class shares was 0.59%, 0.69% 0.94%, 1.10%, 1.09%, 1.87%, and 0.34% respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that are based on expenses incurred during the period covered by this report. |
3
% of | ||||
Net Assets | ||||
JPMorgan Chase & Co. |
2.2 | % | ||
ConocoPhillips |
2.3 | % | ||
Bank of America Corp. |
1.8 | % | ||
Wells Fargo & Co. |
1.9 | % | ||
Hewlett-Packard Co. |
1.6 | % | ||
Vodafone Group plc |
1.5 | % | ||
Pfizer, Inc. |
1.5 | % | ||
Microsoft Corp. |
1.4 | % | ||
International Business Machines Corp. |
1.2 | % | ||
PNC Financial Services Group, Inc. |
1.1 | % |
% of | ||||
Equities | ||||
Financials |
25.6 | % | ||
Information Technology |
12.8 | % | ||
Energy |
12.4 | % | ||
Health Care |
10.7 | % | ||
Industrials |
9.7 | % | ||
Consumer Discretionary |
8.5 | % | ||
Consumer Staples |
7.6 | % | ||
Utilities |
4.4 | % | ||
Telecommunication Services |
4.4 | % | ||
Materials |
3.9 | % |
% of | ||||
Fixed Income | ||||
Corporate |
45.3 | % | ||
Mortgage-Backed |
19.2 | % | ||
U.S. Treasury |
14.3 | % | ||
Agency |
14.0 | % | ||
Commercial Mortgage Backed Securities |
3.3 | % | ||
Asset-Backed |
2.6 | % | ||
Municipal Obligations |
1.2 | % | ||
Other Government |
0.2 | % |
4
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional
Class(1,6) |
18.12 | % | 21.66 | % | 1.80 | % | 0.62 | % | ||||||||
Y Class (1,2,6) |
18.14 | % | 21.48 | % | 1.77 | % | 0.60 | % | ||||||||
A Class with sales
charge (1,3,6) |
10.82 | % | 13.95 | % | .48 | % | -0.04 | % | ||||||||
A Class without
sales charge
(1,3,6) |
17.67 | % | 20.99 | % | 1.69 | % | 0.56 | % | ||||||||
C Class with sales
charge (1,4,6) |
16.53 | % | 19.64 | % | 1.63 | % | 0.53 | % | ||||||||
C Class without
sales charge
(1,4,6) |
17.53 | % | 20.64 | % | 1.63 | % | 0.53 | % | ||||||||
AMR Class(1,6) |
18.25 | % | 21.99 | % | 2.12 | % | 0.84 | % | ||||||||
Russell 1000
Growth Index(5) |
16.96 | % | 20.87 | % | 5.06 | % | 2.11 | % | ||||||||
Lipper Large-Cap
Growth Funds
Index(5) |
15.03 | % | 17.97 | % | 3.52 | % | 1.23 | % |
* | Not annualized |
1. | Performance shown is historical and may not be indicative of future returns. Please note that the recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. A portion of the fees charged to the Institutional Class of the Fund has been waived since 2004. Performance prior to waiving the fees was lower than the actual returns shown for periods since 2004. | |
2. | Fund performance for the six month, one-year, five-year and 10-year periods represents the total returns achieved by the Institutional Class from 4/30/01 up to 3/1/10, the inception date of the Y Class, and the returns of the Y Class since its inception. Expenses of the Institutional Class are lower than those of the Y Class. Therefore, total returns shown may be lower than they would have been had the Y Class been in existence since 7/31/00. A portion of the fees charged to the Y Class was waived in 2011. Performance prior to waiving the fees was lower than the actual returns shown since 2011. | |
3. | Fund performance for the one-year, five-year, and ten-year periods represents the total returns achieved by the Institutional Class from 4/30/01 up to 5/17/10, the inception date of the A Class, and the returns of the A class since its inception. Expenses of the A Class are higher than those of the Institutional Class. Therefore, total returns shown may be higher than they would have been had the A Class been in existences since 4/30/01. A portion of the fees charged to the A Class was waived in 2011. Performance prior to waiving the fees was lower than the actual returns shown since 2011. A Class has a maximum sales charge of 5.75%. | |
4. | Fund performance of the one-year, five-year, and ten-year periods represents the total returns achieved by the Institutional Class from 4/30/01 up to 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Institutional Class. Therefore, total returns shown may be higher than they would have been had the C Class been in existence since 4/30/01. A portion of the fees charged to the C Class was waived since 2011. Performance prior to waiving the fees was lower than the actual returns shown since 2011. The maximum contingent deferred sales charge for C Class is 1.00% for shares redeemed within one year of the date of purchase. | |
5. | The Russell 1000 Growth Index is an unmanaged index of those stocks in the Russell 1000 Index with higher price-to-book ratios and higher forecasted growth values. Russell 1000 Growth Index and Russell 1000 Index are registered trademarks of Frank Russell Company. The Lipper Large-Cap Growth Funds Index tracks the results of the 30 largest mutual funds in the Lipper Large-Cap Growth Funds category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
6. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, A, C, and AMR Class shares was 0.95%, 1.07%, 1.50%, 2.54% and 0.70%, respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that are based on expenses incurred during the period covered by this report. |
5
% of | ||||
Net Assets | ||||
Apple, Inc. |
3.1 | % | ||
Oracle Corp. |
2.4 | % | ||
Union Pacific Corp. |
2.3 | % | ||
EMC Corp/Massachusetts |
2.3 | % | ||
Express Scripts, Inc. |
2.1 | % | ||
Cognizant Technology Solutions Corp. |
2.1 | % | ||
Occidental Petroleum Corp. |
2.0 | % | ||
Deere & Co. |
1.9 | % | ||
Google, Inc. |
1.7 | % | ||
Altera Corp. |
1.6 | % |
% of | ||||
Equities | ||||
Information Technology |
33.6 | % | ||
Industrials |
19.7 | % | ||
Consumer Discretionary |
16.4 | % | ||
Health Care |
8.8 | % | ||
Energy |
7.3 | % | ||
Financials |
6.8 | % | ||
Materials |
4.6 | % | ||
Consumer Staples |
2.0 | % | ||
Telecommunication Services |
0.8 | % |
6
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
Since | ||||||||||||||||
Incep. | ||||||||||||||||
6 Months* | 1 Year | 5 Years | (6/30/04) | |||||||||||||
Institutional
Class(1,3,9) |
19.05 | % | 17.28 | % | 4.86 | % | 7.69 | % | ||||||||
Y Class (1,4,9) |
19.06 | % | 17.29 | % | 4.86 | % | 7.69 | % | ||||||||
Investor Class (1,2,9) |
19.65 | % | 17.73 | % | 4.70 | % | 7.57 | % | ||||||||
Advisor Class (1,5,9) |
18.80 | % | 16.75 | % | 4.50 | % | 7.42 | % | ||||||||
A Class with sales
charge (1,6,9) |
11.94 | % | 9.91 | % | 3.27 | % | 6.49 | % | ||||||||
A Class without sales
charge (1,6,9) |
18.77 | % | 16.61 | % | 4.50 | % | 7.42 | % | ||||||||
C Class with sales
charge (1,7,9) |
17.22 | % | 15.07 | % | 4.41 | % | 7.35 | % | ||||||||
C Class without sales
charge (1,7,9 |
18.22 | % | 16.07 | % | 4.41 | % | 7.35 | % | ||||||||
AMR Class (1,9) |
19.19 | % | 17.54 | % | 5.02 | % | 7.83 | % | ||||||||
Russell Midcap®
Value Index(8) |
18.95 | % | 19.84 | % | 4.34 | % | 8.51 | % | ||||||||
Lipper Mid-Cap
Value Funds Index(8) |
19.47 | % | 18.83 | % | 4.50 | % | 7.33 | % |
* | Not annualized | |
1. | Performance shown is historical and may not be indicative of future returns. Please note that the recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. A portion of the fees charged to the AMR Class of the Fund was waived through 2005. Performance prior to waiving fees was lower than the actual returns shown for periods through 2005. | |
2. | Fund performance for the five-year and since inception periods represents the total returns achieved by the AMR Class from 6/30/04 up to 3/1/06, the inception date of the Investor Class, and the returns of the Investor Class since its inception. Expenses of the Investor Class are higher than those of the AMR Class. As a result, total returns shown may be higher than they would have been had the Investor Class been inexistence since 6/30/04. A portion of the fees charged to the Investor Class of the Fund has been waived since 2006. Performance prior to waiving fees was lower than actual returns shown since 2006. | |
3. | Fund performance for the year and since inception periods represents the total returns achieved by the AMR Class from 6/30/04 up to 11/30/05, the inception date of the Institutional Class, and the returns of the Institutional Class since its inception. Expenses of the Institutional Class are higher than those of the AMR Class. As a result, total returns shown may be higher than they would have been had the Institutional Class been in existence since 6/30/04. A portion of the fees charged to the Institutional Class of the Fund has been waived since 2007. Performance prior to waiving fees was lower than the actual returns show since 2007. | |
4. | Fund performance for the one-year, five-year, and since inception periods represents the total returns achieved by the AMR Class from 6/30/04 up to 11/30/05, the inception date of the Institutional Class, and the total returns of the Institutional Class from 11/30/05 up to 3/1/10, the inception date of the Y Class and the returns of the Y Class since its inception. Expenses of the AMR and Institutional Classes are lower than those of the Y Class. As a result, total returns shown may be higher than they would have been had the Y Class been inexistence since 6/30/04. A portion of the fees charged to the Y Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown for the periods since 2010. | |
5. | Fund performance for the five-year and since inception periods represents the total returns achieved by the AMR Class from 6/30/04 to 11/30/05, the Institutional Class from 11/30/05 to 3/1/06 and the Investor Class from 3/1/06 to 6/29/07. Because the AMR, Institutional, and Investor Classes had lower expenses, their performance was better than the Advisor Class would have realized during the same period. A portion of the fees charged to the Advisor Class of the Fund has been waived since 2007. Performance prior to waiving fees was lower than the actual returns shown since 2007. | |
6. | Performance shown prior to the 5/17/10 inception of the A Class is that of the AMR Class from 6/30/04 to 11/30/05, the Institutional Class from 11/30/05 to 3/1/06 and the Investor Class from 3/1/06 to 5/17/10. Because the AMR, Institutional, and Investor Classes had lower expenses, their performance was better than the A Class would have realized during the same period. A portion of the fees charged to the A Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown for the periods since 2010. A Class has a maximum sales charge of 5.75%. | |
7. | Performance shown prior to the 9/1/10 inception of the C Class is that of the AMR Class from 6/30/04 to 11/30/05, the Institutional Class from 11/30/05 to 3/1/06 and the Investor Class from 3/1/06 to 9/1/10. Because the AMR, Institutional, and Investor Classes had lower expenses, their performance was better than the C Class would have realized during the same period. A portion of the fees charged to the C Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown for the periods since 2010. The maximum contingent deferred sales charge for the C Class is 1.00% for shares redeemed within one year of the date of purchase. | |
8. | The Russell Midcap Value Index is an unmanaged index of those stocks in the Russell Midcap Index with lower price-to-book ratios and lower forecasted growth values. The Russell Midcap Index measures the performance of the 800 smallest companies in the Russell 1000 Index. Russell Midcap Value Index, Russell Midcap Index and Russell 1000 Index are registered trademarks of Frank Russell Company. The Lipper Mid-Cap Value Funds Index tracks the results of the 30 largest mutual funds in the Lipper Mid-Cap Value Funds category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
9. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, Investor, Advisor, A, C, and AMR Class shares was 1.07%, 1.06%, 1.28%, 1.56%, 1.52%, 2.43%, and 0.78%, respectively. The expense ratios above |
7
may vary from the expense ratios presented in other sections of this report that are based on expenses incurred during the period covered by this report. |
% of | ||||
Net Assets | ||||
L-3 Communications Holdings, Inc. |
2.9 | % | ||
Masco Corp. |
2.0 | % | ||
Fifth Third Bancorp |
2.0 | % | ||
Brady Corp. |
1.8 | % | ||
Omnicom Group, Inc. |
1.7 | % | ||
Hospitality Properties Trust |
1.6 | % | ||
Avnet, Inc. |
1.6 | % | ||
Zimmer Holdings, Inc. |
1.5 | % | ||
Molex, Inc. |
1.5 | % | ||
Capital One Financial Corp. |
1.5 | % |
% of | ||||
Equities | ||||
Financials |
28.4 | % | ||
Industrials |
20.1 | % | ||
Consumer Discretionary |
13.6 | % | ||
Health Care |
12.0 | % | ||
Information Technology |
7.5 | % | ||
Utilities |
6.9 | % | ||
Materials |
4.6 | % | ||
Energy |
3.6 | % | ||
Consumer Staples |
3.3 | % |
8
Large Cap | ||||||||||||
Balanced | Growth | Mid-Cap | ||||||||||
Institutional Class | Fund | Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 4/30/11 |
$ | 1,096.50 | $ | 1,181.18 | $ | 1,190.49 | ||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 3.01 | $ | 5.14 | $ | 5.32 | ||||||
Annualized Expense Ratio |
0.58 | % | 0.95 | % | 0.98 | % |
Large Cap | ||||||||||||
Balanced | Growth | Mid-Cap | ||||||||||
Y Class | Fund | Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | | $ | 1,000.00 | ||||||
Ending Account Value 4/30/11 |
$ | 1,094.60 | $ | | $ | 1,196.51 | ||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 4.73 | $ | | $ | 6.64 | ||||||
Annualized Expense Ratio |
0.91 | % | | % | 1.22 | % |
Balanced | Mid-Cap | |||||||
Investor Class | Fund | Value Fund | ||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | ||||
Ending Account Value 4/30/11 |
$ | 1,094.60 | $ | 1,196.51 | ||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 4.73 | $ | 6.64 | ||||
Annualized Expense Ratio |
0.91 | % | 1.22 | % |
Balanced | Mid-Cap | |||||||
Advisor Class | Fund | Value Fund | ||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | ||||
Ending Account Value 4/30/11 |
$ | 1,093.20 | $ | 1,188.00 | ||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 5.61 | $ | 8.08 | ||||
Annualized Expense Ratio |
1.08 | % | 1.49 | % |
Balanced | Large Cap | Mid-Cap | ||||||||||
A Class | Fund | Growth Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 4/30/2011 |
$ | 1,093.94 | $ | 1,176.67 | $ | 1,187.74 | ||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 5.57 | $ | 7.81 | $ | 7.86 | ||||||
Annualized Expense Ratio |
1.07 | % | 1.45 | % | 1.45 | % |
Balanced | Large Cap | Mid-Cap | ||||||||||
C Class | Fund | Growth Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 4/30/2011 |
$ | 1,089.84 | $ | 1,175.26 | $ | 1,182.16 | ||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 9.46 | $ | 11.13 | $ | 12.12 | ||||||
Annualized Expense Ratio |
1.83 | % | 2.06 | % | 2.24 | % |
9
Balanced | Large Cap | Mid-Cap | ||||||||||
AMR Class | Fund | Growth Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10
|
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 4/30/2011
|
$ | 1,097.38 | $ | 1,182.53 | $ | 1,191.85 | ||||||
Expenses Paid During Period 11/1/10-04/30/11 *
|
$ | 1.72 | $ | 3.79 | $ | 4.24 | ||||||
Annualized Expense Ratio
|
0.33 | % | 0.70 | % | 0.78 | % |
* | Expenses are equal to the Funds annualized expense ratio for the six-month period multiplied by the average account value over the period, multiplied by the number derived by dividing the number of days in the most recent fiscal half-year ( 181 ) by days in the year ( 365 ) to reflect the half-year period. |
Large Cap | ||||||||||||
Balanced | Growth | Mid-Cap | ||||||||||
Institutional Class | Fund | Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 04/30/11 |
$ | 1,021.92 | $ | 1,020.08 | $ | 1,019.93 | ||||||
Expenses Paid During Period 11/1/10-04/30/11 * |
$ | 2.91 | $ | 4.76 | $ | 4.91 | ||||||
Annualized Expense Ratio |
0.58 | % | 0.95 | % | 0.98 | % |
Large Cap | ||||||||||||
Balanced | Growth | Mid-Cap | ||||||||||
Y Class | Fund | Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | | $ | 1,000.00 | ||||||
Ending Account Value 04/30/11 |
$ | 1,020.28 | $ | | $ | 1,018.74 | ||||||
Expenses Paid During Period 11/1/10-04/30/11 * |
$ | 4.56 | $ | | $ | 6.11 | ||||||
Annualized Expense Ratio |
0.91 | % | | % | 1.22 | % |
Balanced | Mid-Cap | |||||||
Investor Class | Fund | Value Fund | ||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | ||||
Ending Account Value 04/30/11 |
$ | 1,020.28 | $ | 1,018.74 | ||||
Expenses Paid During Period 11/1/10-04/30/11 * |
$ | 4.56 | $ | 6.11 | ||||
Annualized Expense Ratio |
0.91 | % | 1.22 | % |
Balanced | Mid-Cap | |||||||
Advisor Class | Fund | Value Fund | ||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | ||||
Ending Account Value 04/30/11 |
$ | 1,019.44 | $ | 1,017.41 | ||||
Expenses Paid During Period 11/1/10-04/30/11 * |
$ | 5.41 | $ | 7.45 | ||||
Annualized Expense Ratio |
1.08 | % | 1.49 | % |
10
Balanced | Large Cap | Mid-Cap | ||||||||||
A Class | Fund | Growth Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 4/30/2011 |
$ | 1,019.48 | $ | 1,017.62 | $ | 1,017.61 | ||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 5.37 | $ | 7.24 | $ | 7.25 | ||||||
Annualized Expense Ratio |
1.07 | % | 1.45 | % | 1.45 | % |
Balanced | Large Cap | Mid-Cap | ||||||||||
C Class | Fund | Growth Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 4/30/2011 |
$ | 1,015.74 | $ | 1,014.57 | $ | 1,013.68 | ||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 9.13 | $ | 10.30 | $ | 11.19 | ||||||
Annualized Expense Ratio |
1.83 | % | 2.06 | % | 2.24 | % |
Large Cap | ||||||||||||
Balanced | Growth | Mid-Cap | ||||||||||
AMR Class | Fund | Fund | Value Fund | |||||||||
Beginning Account Value 11/1/10.
|
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 04/30/11.
|
$ | 1,023.16 | $ | 1,021.32 | $ | 1,020.93 | ||||||
Expenses Paid During Period 11/1/10-04/30/11 *
|
$ | 1.66 | $ | 3.51 | $ | 3.91 | ||||||
Annualized Expense Ratio. |
* | Expenses are equal to the Funds annualized expense ratios for the six-month period multiplied by the average account value over the period, multiplied by the number derived by dividing the number of days in the most recent fiscal half-year ( 181 ) by days in the year ( 365 ) to reflect the half year period. |
11
Shares | Value | |||||||
($000) | ||||||||
COMMON STOCK - 61.56% |
||||||||
CONSUMER DISCRETIONARY - 4.94% |
||||||||
Auto Components - 0.43% |
||||||||
Johnson Controls, Inc. |
$ | 42,700 | $ | 1,751 | ||||
Magna International, Inc. |
40,500 | 2,075 | ||||||
3,826 | ||||||||
Automobiles - 0.47% |
||||||||
General Motors Co.A |
52,900 | 1,698 | ||||||
Toyota Motor Corp.B |
31,000 | 2,470 | ||||||
4,168 | ||||||||
Hotels, Restaurants & Leisure - 0.79% |
||||||||
Carnival Corp. |
56,300 | 2,143 | ||||||
McDonalds Corp. |
33,500 | 2,624 | ||||||
Wyndham Worldwide Corp. |
67,100 | 2,322 | ||||||
7,089 | ||||||||
Media - 0.91% |
||||||||
CBS Corp. |
97,600 | 2,461 | ||||||
Comcast Corp. |
115,600 | 2,839 | ||||||
The Interpublic Group of Cos Inc. |
72,500 | 852 | ||||||
Time Warner Cable, Inc. |
26,100 | 2,039 | ||||||
8,191 | ||||||||
Multiline Retail - 0.62% |
||||||||
JC Penney Co., Inc. |
107,800 | 4,145 | ||||||
Target Corp. |
27,950 | 1,372 | ||||||
5,517 | ||||||||
Specialty Retail - 1.72% |
||||||||
Abercrombie & Fitch Co. |
35,200 | 2,492 | ||||||
Best Buy Co, Inc. |
70,200 | 2,192 | ||||||
Home Depot, Inc. |
60,250 | 2,238 | ||||||
RadioShack Corp. |
73,400 | 1,160 | ||||||
The Gap, Inc. |
318,700 | 7,406 | ||||||
15,488 | ||||||||
Total Consumer Discretionary |
44,279 | |||||||
CONSUMER STAPLES - 4.72% |
||||||||
Beverages - 1.24% |
||||||||
Diageo plcB |
64,400 | 5,240 | ||||||
PepsiCo, Inc. |
85,600 | 5,897 | ||||||
11,137 | ||||||||
Food & Drug Retailing - 1.50% |
||||||||
CVS Caremark Corp. |
160,600 | 5,820 | ||||||
Safeway, Inc. |
71,100 | 1,728 | ||||||
Sysco Corp. |
30,500 | 882 | ||||||
Wal-Mart Stores, Inc. |
90,700 | 4,987 | ||||||
13,417 | ||||||||
Food Products - 0.16% |
||||||||
Kraft Foods, Inc. |
42,500 | 1,427 | ||||||
Household Products - 0.10% |
||||||||
Kimberly-Clark Corp. |
13,800 | 912 | ||||||
Tobacco - 1.72% |
||||||||
Altria Group, Inc. |
97,200 | 2,609 | ||||||
Imperial Tobacco Group plcB |
81,900 | 5,807 | ||||||
Philip Morris International, Inc. |
$ | 100,700 | $ | 6,992 | ||||
15,408 | ||||||||
Total Consumer Staples |
42,301 | |||||||
ENERGY - 7.68% |
||||||||
Energy Equipment & Services - 0.40% |
||||||||
Cobalt International Energy, Inc.A |
81,800 | 1,145 | ||||||
Transocean Ltd. |
33,700 | 2,452 | ||||||
3,597 | ||||||||
Oil & Gas - 7.28% |
||||||||
BP plcB |
181,400 | 8,370 | ||||||
Chevron Corp. |
62,128 | 6,799 | ||||||
ConocoPhillips |
259,676 | 20,496 | ||||||
Exxon Mobil Corp. |
61,000 | 5,368 | ||||||
Marathon Oil Corp. |
7,900 | 427 | ||||||
Occidental Petroleum Corp. |
59,700 | 6,823 | ||||||
Royal Dutch Shell plcB |
101,900 | 7,985 | ||||||
Spectra Energy Corp. |
222,900 | 6,473 | ||||||
Total S.A.B |
38,000 | 2,441 | ||||||
65,182 | ||||||||
Total Energy |
68,779 | |||||||
FINANCIALS - 15.81% |
||||||||
Banks - 5.67% |
||||||||
Bank of America Corp. |
1,316,080 | 16,161 | ||||||
Fifth Third Bancorp |
127,700 | 1,695 | ||||||
First Horizon National Corp. |
84,400 | 924 | ||||||
KeyCorp. |
138,857 | 1,204 | ||||||
PNC Financial Services Group, Inc. |
164,758 | 10,271 | ||||||
SunTrust Banks, Inc. |
98,500 | 2,777 | ||||||
Wells Fargo & Co. |
576,098 | 16,770 | ||||||
Zions Bancorporation |
41,550 | 1,016 | ||||||
50,818 | ||||||||
Diversified Financials - 5.81% |
||||||||
American Express Co. |
115,300 | 5,659 | ||||||
Capital One Financial Corp. |
115,300 | 6,310 | ||||||
Citigroup, Inc. |
1,694,603 | 7,779 | ||||||
JPMorgan Chase & Co. |
440,934 | 20,121 | ||||||
Mastercard, Inc. |
2,100 | 579 | ||||||
Morgan Stanley |
171,100 | 4,474 | ||||||
SLM Corp. |
155,900 | 2,586 | ||||||
State Street Corp. |
46,900 | 2,183 | ||||||
The Goldman Sachs Group Inc. |
16,300 | 2,461 | ||||||
52,152 | ||||||||
Insurance - 3.72% |
||||||||
ACE Ltd. |
43,100 | 2,898 | ||||||
Genworth Financial, Inc. |
213,000 | 2,596 | ||||||
Hartford Financial Services Group, Inc. |
126,400 | 3,662 | ||||||
Lincoln National Corp. |
78,500 | 2,452 | ||||||
MetLife, Inc. |
152,688 | 7,144 | ||||||
Prudential Financial, Inc. |
21,200 | 1,345 | ||||||
The Allstate Corp. |
174,900 | 5,919 | ||||||
The Travelers Cos., Inc. |
32,900 | 2,082 | ||||||
XL Group plc |
213,000 | 5,201 | ||||||
33,299 | ||||||||
12
Shares | Value | |||||||
($000) | ||||||||
Real Estate - 0.61% |
||||||||
Annaly Capital Management, Inc.C |
$ | 201,100 | $ | 3,587 | ||||
Chimera Investment Corp.C |
452,272 | 1,832 | ||||||
5,419 | ||||||||
Total Financials |
141,688 | |||||||
HEALTH CARE - 6.65% |
||||||||
Biotechnology - 0.36% |
||||||||
Amgen, Inc. |
57,200 | 3,252 | ||||||
Health Care Equipment & Supplies - 1.14% |
||||||||
Baxter International, Inc. |
89,200 | 5,076 | ||||||
Covidien plc |
23,700 | 1,320 | ||||||
Medtronic, Inc. |
92,200 | 3,849 | ||||||
10,245 | ||||||||
Health Care Providers & Services - 0.41% |
||||||||
WellPoint, Inc. |
48,000 | 3,686 | ||||||
Pharmaceuticals - 4.74% |
||||||||
Bristol-Myers Squibb Co. |
107,900 | 3,032 | ||||||
Eli Lilly & Co. |
102,600 | 3,797 | ||||||
Johnson & Johnson |
134,600 | 8,846 | ||||||
Merck & Co, Inc. |
262,376 | 9,432 | ||||||
Novartis AGB |
66,400 | 3,929 | ||||||
Pfizer, Inc. |
635,454 | 13,319 | ||||||
42,355 | ||||||||
Total Health Care |
59,538 | |||||||
INDUSTRIALS - 6.00% |
||||||||
Aerospace & Defense - 1.84% |
||||||||
Huntington Ingalls Industries, Inc.A |
7,350 | 294 | ||||||
Lockheed Martin Corp. |
73,000 | 5,785 | ||||||
Northrop Grumman Corp. |
44,100 | 2,805 | ||||||
Raytheon Co. |
94,400 | 4,583 | ||||||
The Boeing Co. |
38,200 | 3,048 | ||||||
16,515 | ||||||||
Air Freight & Couriers - 0.27% |
||||||||
FedEx Corp. |
25,700 | 2,459 | ||||||
Electrical Equipment - 0.36% |
||||||||
TE Connectivity Ltd. |
90,425 | 3,242 | ||||||
Industrial Conglomerates - 1.99% |
||||||||
3M Co. |
42,800 | 4,161 | ||||||
General Electric Co. |
343,600 | 7,026 | ||||||
Honeywell International, Inc. |
80,200 | 4,910 | ||||||
Tyco International Ltd. |
34,725 | 1,692 | ||||||
17,789 | ||||||||
Machinery - 1.54% |
||||||||
Cummins, Inc. |
11,800 | 1,418 | ||||||
Illinois Tool Works, Inc. |
51,100 | 2,985 | ||||||
ITT Corp. |
72,700 | 4,201 | ||||||
PACCAR, Inc. |
97,200 | 5,163 | ||||||
13,767 | ||||||||
Total Industrials |
53,772 | |||||||
INFORMATION TECHNOLOGY - 7.92% |
||||||||
Communications Equipment - 0.31% |
||||||||
Cisco Systems, Inc. |
$ | 158,500 | $ | 2,783 | ||||
Computers & Peripherals - 3.21% |
||||||||
Apple, Inc. |
11,110 | 3,869 | ||||||
Hewlett-Packard Co. |
358,700 | 14,481 | ||||||
International Business Machines Corp. |
61,500 | 10,491 | ||||||
28,841 | ||||||||
Electronic Equipment & Instruments - 0.18% |
||||||||
Avnet, Inc. |
44,100 | 1,602 | ||||||
Office Electronics - 0.21% |
||||||||
Xerox Corp. |
182,600 | 1,842 | ||||||
Semiconductor Equipment & Products - 1.98% |
||||||||
Applied Materials, Inc. |
114,800 | 1,801 | ||||||
ASML Holding N.V. |
26,930 | 1,125 | ||||||
Intel Corp. |
412,700 | 9,570 | ||||||
Micron Technology, Inc. |
294,500 | 3,325 | ||||||
Texas Instruments, Inc. |
53,000 | 1,883 | ||||||
17,704 | ||||||||
Software - 2.03% |
||||||||
CA, Inc. |
201,774 | 4,962 | ||||||
Microsoft Corp. |
470,900 | 12,252 | ||||||
Oracle Corp. |
26,200 | 945 | ||||||
18,159 | ||||||||
Total Information Technology |
70,931 | |||||||
MATERIALS - 2.40% |
||||||||
Chemicals - 1.20% |
||||||||
Air Products & Chemicals, Inc. |
22,100 | 2,111 | ||||||
Celanese Corp. |
29,000 | 1,448 | ||||||
EI du Pont de Nemours & Co. |
56,400 | 3,203 | ||||||
PPG Industries, Inc. |
9,700 | 918 | ||||||
The Dow Chemical Co. |
75,300 | 3,087 | ||||||
10,767 | ||||||||
Metals & Mining - 0.75% |
||||||||
Cliffs Natural Resources, Inc. |
48,900 | 4,583 | ||||||
Newmont Mining Corp. |
35,900 | 2,104 | ||||||
6,687 | ||||||||
Paper & Forest Products - 0.45% |
||||||||
International Paper Co. |
129,700 | 4,005 | ||||||
Total Materials |
21,459 | |||||||
TELECOMMUNICATION SERVICES - 2.74% |
||||||||
Diversified Telecommunication Services - 1.19% |
||||||||
AT&T, Inc. |
229,877 | 7,154 | ||||||
Nokia OYJB |
177,300 | 1,636 | ||||||
Verizon Communications, Inc. |
49,808 | 1,882 | ||||||
10,672 | ||||||||
Wireless Telecommunication Services - 1.55% |
||||||||
Vodafone Group plcB |
475,300 | 13,841 | ||||||
Total Telecommunication Services |
24,513 | |||||||
13
Shares | Value | |||||||
($000) | ||||||||
UTILITIES - 2.70% |
||||||||
CenterPoint Energy, Inc. |
$ | 197,800 | $ | 3,679 | ||||
Dominion Resources, Inc. |
101,400 | 4,707 | ||||||
Edison International |
71,300 | 2,800 | ||||||
Entergy Corp. |
20,100 | 1,401 | ||||||
Exelon Corp. |
129,800 | 5,472 | ||||||
PPL Corp. |
64,300 | 1,764 | ||||||
Public Service Enterprise Group, Inc. |
134,300 | 4,320 | ||||||
Total Utilities |
24,143 | |||||||
Total Common Stock (Cost $475,662) |
551,403 | |||||||
PREFERRED STOCK - 0.35 (Cost $3,130) |
||||||||
CONSUMER DISCRETIONARY - 0.35% |
||||||||
General Motors Co. |
62,400 | 3,108 | ||||||
Par Amount | Value | |||||||
(dollars in thousands) | ||||||||
CORPORATE OBLIGATION - 14.88% |
||||||||
Finance - 6.62% |
||||||||
AEGON Funding Co., LLC, |
||||||||
5.75%, Due 12/15/2020 |
350 | 372 | ||||||
Aflac, Inc., |
||||||||
8.50%, Due 5/15/2019 |
190 | 232 | ||||||
American Express Co., |
||||||||
8.15%, Due 3/19/2038 |
225 | 307 | ||||||
American Express Credit Corp., |
||||||||
5.125%, Due 8/25/2014 |
720 | 786 | ||||||
2.75%, Due 9/15/2015 |
150 | 150 | ||||||
American International Group, Inc., |
||||||||
6.40%, Due 12/15/2020 |
625 | 684 | ||||||
ANZ National Intl Ltd/London, |
||||||||
2.375%, Due 12/21/2012D |
350 | 355 | ||||||
Bank of America Corp., |
||||||||
4.50%, Due 4/1/2015 |
380 | 400 | ||||||
6.50%, Due 8/1/2016 |
2,090 | 2,355 | ||||||
7.80%, Due 9/15/2016 |
700 | 807 | ||||||
7.625%, Due 6/1/2019 |
925 | 1,091 | ||||||
Bank One Corp., |
||||||||
4.90%, Due 4/30/2015 |
250 | 266 | ||||||
Barclays Bank plc, |
||||||||
3.90%, Due 4/7/2015 |
330 | 346 | ||||||
6.75%, Due 5/22/2019 |
350 | 400 | ||||||
BNP Paribas, |
||||||||
3.60%, Due 2/23/2016 |
320 | 325 | ||||||
Canadian Imperial Bank of Commerce/Canada, |
||||||||
1.45%, Due 9/13/2013 |
515 | 517 | ||||||
Citigroup, Inc., |
||||||||
1.235%, Due 4/1/2014E |
300 | 300 | ||||||
6.375%, Due 8/12/2014 |
920 | 1,028 | ||||||
0.591%, Due 11/5/2014E |
320 | 312 | ||||||
6.01%, Due 1/15/2015 |
540 | 599 | ||||||
6.125%, Due 11/21/2017 |
660 | 732 | ||||||
8.50%, Due 5/22/2019 |
1,000 | 1,246 | ||||||
CME Group, Inc., |
||||||||
5.40%, Due 8/1/2013 |
260 | 284 | ||||||
5.75%, Due 2/15/2014 |
465 | 517 | ||||||
CNA Financial Corp., |
||||||||
7.35%, Due 11/15/2019 |
245 | 284 | ||||||
Cooperatieve Centrale Raiffeisen-Boerenleenbank
BA/Netherlands, |
||||||||
4.20%, Due 5/13/2014D |
200 | 214 | ||||||
2.125%, Due 10/13/2015 |
385 | 377 | ||||||
Deutsche Bank AG/London, |
||||||||
3.875%, Due 8/18/2014 |
325 | 342 | ||||||
Fifth Third Bancorp, |
||||||||
3.625%, Due 1/25/2016 |
325 | 330 | ||||||
8.25%, Due 3/1/2038 |
1,500 | 1,840 | ||||||
General Electric Capital Corp., |
||||||||
0.493%, Due 1/8/2016E |
1,125 | 1,090 | ||||||
5.40%, Due 2/15/2017 |
390 | 428 | ||||||
5.625%, Due 5/1/2018 |
765 | 838 | ||||||
6.00%, Due 8/7/2019 |
350 | 390 | ||||||
5.50%, Due 1/8/2020 |
250 | 269 | ||||||
5.30%, Due 2/11/2021 |
190 | 197 | ||||||
5.875%, Due 1/14/2038 |
625 | 632 | ||||||
HCP, Inc., |
||||||||
5.375%, Due 2/1/2021 |
400 | 416 | ||||||
HSBC Finance Corp., |
||||||||
0.528%, Due 1/15/2014E |
1,050 | 1,035 | ||||||
ING Bank N.V., |
||||||||
5.125%, Due 5/1/2015D |
450 | 465 | ||||||
JPMorgan Chase & Co., |
||||||||
1.074%, Due 1/24/2014E |
1,375 | 1,381 | ||||||
3.70%, Due 1/20/2015 |
1,240 | 1,288 | ||||||
6.00%, Due 1/15/2018 |
375 | 417 | ||||||
5.50%, Due 10/15/2040 |
325 | 325 | ||||||
JPMorgan Chase Bank NA, |
||||||||
0.640%, Due 6/13/2016D E |
415 | 399 | ||||||
KeyCorp, |
||||||||
5.10%, Due 3/24/2021 |
200 | 205 | ||||||
Liberty Mutual Insurance Co., |
||||||||
7.875%, Due 10/15/2026D |
1,500 | 1,660 | ||||||
Lincoln National Corp., |
||||||||
4.75%, Due 2/15/2014 |
245 | 259 | ||||||
Lloyds TSB Bank plc, |
||||||||
4.375%, Due 1/12/2015D |
325 | 336 | ||||||
6.375%, Due 1/21/2021 |
210 | 225 | ||||||
Mellon Funding Corp., |
||||||||
0.463%, Due 5/15/2014E |
250 | 249 | ||||||
Merrill Lynch & Co, Inc., |
||||||||
6.40%, Due 8/28/2017 |
1,000 | 1,115 | ||||||
6.50%, Due 7/15/2018 |
260 | 285 | ||||||
6.11%, Due 1/29/2037 |
365 | 357 | ||||||
MetLife Institutional Funding II, |
||||||||
1.201%, Due 4/4/2014D E |
600 | 602 | ||||||
MetLife, Inc., |
||||||||
5.00%, Due 11/24/2013 |
495 | 535 | ||||||
6.375%, Due 6/15/2034 |
350 | 388 | ||||||
Monumental Global Funding III, |
||||||||
0.478%, Due 1/15/2014D E |
325 | 314 | ||||||
Morgan Stanley, |
||||||||
0.590%, Due 1/9/2014E |
2,860 | 2,799 | ||||||
0.758%, Due 10/15/2015E |
920 | 887 | ||||||
7.30%, Due 5/13/2019 |
350 | 401 | ||||||
5.625%, Due 9/23/2019 |
350 | 364 | ||||||
National Australia Bank Ltd., |
||||||||
4.375%, Due 12/10/2020D |
325 | 317 |
14
Par Amount | Value | |||||||
($000) | ||||||||
National Rural Utilities Cooperative Finance
Corp., |
||||||||
1.125%, Due 11/1/2013 |
380 | 380 | ||||||
Nationwide Building Society, |
||||||||
5.50%, Due 7/18/2012D |
500 | 524 | ||||||
4.875%, Due 1/27/2020D |
300 | 310 | ||||||
PNC Funding Corp., |
||||||||
4.25%, Due 9/21/2015 |
730 | 776 | ||||||
4.375%, Due 8/11/2020 |
330 | 333 | ||||||
Pricoa Global Funding I, |
||||||||
5.40%, Due 10/18/2012D |
175 | 185 | ||||||
Prudential Financial, Inc., |
||||||||
5.10%, Due 9/20/2014 |
445 | 484 | ||||||
7.375%, Due 6/15/2019 |
300 | 357 | ||||||
Societe Generale, |
||||||||
2.20%, Due 9/14/2013D |
300 | 302 | ||||||
1.326%, Due 4/11/2014D E |
900 | 901 | ||||||
State Street Corp., |
||||||||
4.30%, Due 5/30/2014 |
290 | 313 | ||||||
2.875%, Due 3/7/2016 |
570 | 575 | ||||||
SunTrust Banks, Inc., |
||||||||
3.60%, Due 4/15/2016 |
200 | 203 | ||||||
The Bank of New York Mellon Corp, |
||||||||
4.95%, Due 11/1/2012 |
| | ||||||
1.50%, Due 1/31/2014 |
380 | 382 | ||||||
4.30%, Due 5/15/2014 |
380 | 411 | ||||||
The Bear Stearns Cos., Inc., |
||||||||
7.25%, Due 2/1/2018 |
1,460 | 1,715 | ||||||
The Goldman Sachs Group, Inc., |
||||||||
5.35%, Due 1/15/2016 |
725 | 786 | ||||||
6.25%, Due 9/1/2017 |
650 | 724 | ||||||
5.95%, Due 1/18/2018 |
565 | 618 | ||||||
6.00%, Due 6/15/2020 |
175 | 189 | ||||||
6.75%, Due 10/1/2037 |
1,902 | 1,971 | ||||||
The Travelers Cos Inc, |
||||||||
3.90%, Due 11/1/2020 |
160 | 155 | ||||||
Travelers Property Casualty Corp., |
||||||||
5.00%, Due 3/15/2013 |
640 | 685 | ||||||
UBS AG/Stamford CT, |
||||||||
5.875%, Due 12/20/2017 |
325 | 363 | ||||||
UnitedHealth Group, Inc., |
||||||||
6.625%, Due 11/15/2037 |
1,625 | 1,808 | ||||||
US Bancorp, |
||||||||
1.375%, Due 9/13/2013 |
570 | 572 | ||||||
Wachovia Corp., |
||||||||
0.648%, Due 10/15/2016E |
650 | 615 | ||||||
5.75%, Due 2/1/2018 |
775 | 865 | ||||||
Wells Fargo & Co., |
||||||||
5.625%, Due 12/11/2017 |
250 | 279 | ||||||
4.60%, Due 4/1/2021 |
380 | 384 | ||||||
Westpac Banking Corp., |
||||||||
2.25%, Due 11/19/2012 |
330 | 336 | ||||||
Willis North America, Inc., |
||||||||
6.20%, Due 3/28/2017 |
360 | 392 | ||||||
59,284 | ||||||||
Industrials - 6.77% |
||||||||
Alltel Corp., |
||||||||
7.00%, Due 7/1/2012 |
300 | 321 | ||||||
Altria Group, Inc., |
||||||||
9.70%, Due 11/10/2018 |
365 | 486 | ||||||
America Movil SAB de CV, |
||||||||
6.375%, Due 3/1/2035 |
350 | 381 | ||||||
American Honda Finance Corp., |
||||||||
4.625%, Due 4/2/2013D |
425 | 451 | ||||||
3.875%, Due 9/21/2020D |
150 | 147 | ||||||
Analog Devices, Inc., |
||||||||
3.00%, Due 4/15/2016 |
$ | 170 | $ | 173 | ||||
Anheuser-Busch InBev Worldwide, Inc., |
||||||||
3.00%, Due 10/15/2012 |
470 | 484 | ||||||
5.00%, Due 4/15/2020 |
330 | 354 | ||||||
8.00%, Due 11/15/2039 |
125 | 171 | ||||||
Apache Corp., |
||||||||
5.10%, Due 9/1/2040 |
170 | 163 | ||||||
AT&T, Inc., |
||||||||
5.10%, Due 9/15/2014 |
860 | 949 | ||||||
5.625%, Due 6/15/2016 |
400 | 451 | ||||||
5.50%, Due 2/1/2018 |
300 | 331 | ||||||
6.80%, Due 5/15/2036 |
150 | 166 | ||||||
6.40%, Due 5/15/2038 |
1,840 | 1,963 | ||||||
5.35%, Due 9/1/2040D |
283 | 265 | ||||||
Baxter International, Inc., |
||||||||
1.80%, Due 3/15/2013 |
230 | 234 | ||||||
Becton Dickinson and Co., |
||||||||
3.25%, Due 11/12/2020 |
375 | 353 | ||||||
BP Capital Markets plc, |
||||||||
3.20%, Due 3/11/2016 |
855 | 862 | ||||||
Burlington Northern Santa Fe LLC, |
||||||||
5.75%, Due 3/15/2018 |
425 | 480 | ||||||
7.95%, Due 8/15/2030 |
205 | 264 | ||||||
5.75%, Due 5/1/2040 |
170 | 175 | ||||||
Cameron International Corp., |
||||||||
6.375%, Due 7/15/2018 |
215 | 244 | ||||||
Canadian National Railway Co., |
||||||||
5.55%, Due 5/15/2018 |
350 | 392 | ||||||
Canadian Natural Resources Ltd., |
||||||||
6.25%, Due 3/15/2038 |
365 | 403 | ||||||
Caterpillar Financial Services Corp., |
||||||||
1.90%, Due 12/17/2012 |
300 | 306 | ||||||
6.125%, Due 2/17/2014 |
620 | 701 | ||||||
2.75%, Due 6/24/2015 |
340 | 350 | ||||||
Cellco Partnership / Verizon Wireless Capital
LLC, |
||||||||
3.75%, Due 5/20/2011 |
360 | 360 | ||||||
8.50%, Due 11/15/2018 |
415 | 539 | ||||||
Cisco Systems, Inc., |
||||||||
1.625%, Due 3/14/2014 |
575 | 578 | ||||||
Cliffs Natural Resources, Inc., |
||||||||
4.875%, Due 4/1/2021 |
225 | 228 | ||||||
Coca-Cola Refreshments USA, Inc., |
||||||||
7.375%, Due 3/3/2014 |
175 | 204 | ||||||
Comcast Cable Communications Holdings, Inc., |
||||||||
8.375%, Due 3/15/2013 |
128 | 144 | ||||||
Comcast Corp., |
||||||||
6.30%, Due 11/15/2017 |
480 | 552 | ||||||
5.875%, Due 2/15/2018 |
305 | 340 | ||||||
6.45%, Due 3/15/2037 |
2,630 | 2,791 | ||||||
6.55%, Due 7/1/2039 |
350 | 378 | ||||||
ConocoPhillips, |
||||||||
4.60%, Due 1/15/2015 |
900 | 989 | ||||||
5.20%, Due 5/15/2018 |
425 | 474 |
15
Par Amount | Value | |||||||
($000) | ||||||||
Cooper US, Inc., |
||||||||
2.375%, Due 1/15/2016 |
570 | 567 | ||||||
3.875%, Due 12/15/2020 |
250 | 248 | ||||||
CSX Corp., |
||||||||
5.50%, Due 4/15/2041 |
325 | 320 | ||||||
CVS Caremark Corp., |
||||||||
3.25%, Due 5/18/2015 |
170 | 174 | ||||||
Daimler Finance North America LLC, |
||||||||
5.75%, Due 9/8/2011 |
550 | 560 | ||||||
EI du Pont de Nemours & Co, |
||||||||
5.875%, Due 1/15/2014 |
95 | 106 | ||||||
3.25%, Due 1/15/2015 |
545 | 570 | ||||||
Ensco plc, |
||||||||
4.70%, Due 3/15/2021 |
280 | 283 | ||||||
EOG Resources, Inc., |
||||||||
2.50%, Due 2/1/2016 |
325 | 322 | ||||||
Express Scripts, Inc., |
||||||||
6.25%, Due 6/15/2014 |
570 | 639 | ||||||
France Telecom S.A., |
||||||||
4.375%, Due 7/8/2014 |
295 | 319 | ||||||
2.125%, Due 9/16/2015 |
150 | 149 | ||||||
GlaxoSmithKline Capital, Inc., |
||||||||
5.65%, Due 5/15/2018 |
250 | 284 | ||||||
Health Care REIT, Inc., |
||||||||
3.625%, Due 3/15/2016 |
240 | 240 | ||||||
5.25%, Due 1/15/2022 |
280 | 281 | ||||||
Hewlett-Packard Co., |
||||||||
6.125%, Due 3/1/2014 |
460 | 518 | ||||||
2.20%, Due 12/1/2015 |
325 | 323 | ||||||
Home Depot, Inc., |
||||||||
4.40%, Due 4/1/2021 |
300 | 302 | ||||||
Honeywell International, Inc., |
||||||||
4.25%, Due 3/1/2013 |
580 | 616 | ||||||
Hospira, Inc., |
||||||||
6.05%, Due 3/30/2017 |
260 | 292 | ||||||
International Business Machines Corp., |
||||||||
4.75%, Due 11/29/2012 |
480 | 510 | ||||||
7.625%, Due 10/15/2018 |
770 | 974 | ||||||
ITT Corp., |
||||||||
4.90%, Due 5/1/2014 |
490 | 530 | ||||||
John Deere Capital Corp., |
||||||||
4.90%, Due 9/9/2013 |
620 | 675 | ||||||
Johnson Controls, Inc., |
||||||||
5.00%, Due 3/30/2020 |
320 | 340 | ||||||
Kellogg Co., |
||||||||
4.25%, Due 3/6/2013 |
500 | 528 | ||||||
Koninklijke Philips Electronics N.V., |
||||||||
5.75%, Due 3/11/2018 |
335 | 379 | ||||||
Kraft Foods, Inc., |
||||||||
6.50%, Due 2/9/2040 |
245 | 273 | ||||||
Lorillard Tobacco Co., |
||||||||
8.125%, Due 6/23/2019 |
310 | 367 | ||||||
Marathon Oil Corp., |
||||||||
6.00%, Due 10/1/2017 |
415 | 473 | ||||||
Marathon Petroleum Corp., |
||||||||
3.50%, Due 3/1/2016D |
335 | 339 | ||||||
McKesson Corp., |
||||||||
3.25%, Due 3/1/2016 |
160 | 164 | ||||||
Medtronic, Inc., |
||||||||
3.00%, Due 3/15/2015 |
1,065 | 1,105 | ||||||
Norfolk Southern Corp., |
||||||||
5.75%, Due 4/1/2018 |
425 | 483 | ||||||
Northrop Grumman Corp., |
||||||||
5.05%, Due 8/1/2019 |
150 | 161 | ||||||
Novartis Capital Corp., |
||||||||
2.90%, Due 4/24/2015 |
695 | 718 | ||||||
Petrobras International Finance Co. Pifco, |
||||||||
3.875%, Due 1/27/2016 |
360 | 365 | ||||||
6.875%, Due 1/20/2040 |
125 | 131 | ||||||
4.00%, Due 3/29/2021 |
400 | 398 | ||||||
Shell International Finance BV, |
||||||||
3.10%, Due 6/28/2015 |
340 | 353 | ||||||
Simon Property Group LP, |
||||||||
5.75%, Due 12/1/2015 |
460 | 515 | ||||||
10.35%, Due 4/1/2019 |
325 | 452 | ||||||
Teck Resources Ltd., |
||||||||
6.00%, Due 8/15/2040 |
165 | 171 | ||||||
Telecom Italia Capital S.A., |
||||||||
4.95%, Due 9/30/2014 |
195 | 206 | ||||||
Telefonica Emisiones SAU, |
||||||||
4.949%, Due 1/15/2015 |
185 | 198 | ||||||
6.421%, Due 6/20/2016 |
350 | 394 | ||||||
The Boeing Co, |
||||||||
1.875%, Due 11/20/2012 |
350 | 356 | ||||||
The Coca-Cola Co, |
||||||||
0.75%, Due 11/15/2013 |
930 | 922 | ||||||
The Dow Chemical Co, |
||||||||
2.50%, Due 2/15/2016 |
155 | 152 | ||||||
4.25%, Due 11/15/2020 |
195 | 191 | ||||||
Thomson Reuters Corp., |
||||||||
4.70%, Due 10/15/2019 |
150 | 159 | ||||||
Time Warner Cable, Inc., |
||||||||
5.85%, Due 5/1/2017 |
350 | 389 | ||||||
6.75%, Due 7/1/2018 |
755 | 870 | ||||||
7.30%, Due 7/1/2038 |
1,920 | 2,203 | ||||||
Time Warner, Inc., |
||||||||
4.875%, Due 3/15/2020 |
160 | 166 | ||||||
4.75%, Due 3/29/2021 |
325 | 331 | ||||||
Transocean, Inc., |
||||||||
6.80%, Due 3/15/2038 |
3,170 | 3,425 | ||||||
Tyco Electronics Group S.A., |
||||||||
6.55%, Due 10/1/2017 |
455 | 532 | ||||||
Tyco International Finance S.A., |
||||||||
3.75%, Due 1/15/2018 |
325 | 326 | ||||||
8.50%, Due 1/15/2019 |
385 | 492 | ||||||
Union Pacific Corp., |
||||||||
7.875%, Due 1/15/2019 |
350 | 443 | ||||||
United Parcel Service, Inc., |
||||||||
3.125%, Due 1/15/2021 |
745 | 699 | ||||||
United Technologies Corp., |
||||||||
6.125%, Due 7/15/2038 |
210 | 237 | ||||||
UnitedHealth Group, Inc., |
||||||||
4.875%, Due 2/15/2013 |
595 | 633 | ||||||
3.875%, Due 10/15/2020 |
325 | 315 | ||||||
Valero Energy Corp., |
||||||||
9.375%, Due 3/15/2019 |
155 | 201 | ||||||
6.625%, Due 6/15/2037 |
185 | 195 | ||||||
Verizon Communications, Inc., |
||||||||
5.50%, Due 4/1/2017 |
350 | 393 | ||||||
4.60%, Due 4/1/2021 |
380 | 388 | ||||||
6.90%, Due 4/15/2038 |
275 | 315 |
16
Par Amount | Value | |||||||
($000) | ||||||||
Viacom, Inc., |
||||||||
6.875%, Due 4/30/2036 |
$ | 2,880 | $ | 3,224 | ||||
Vodafone Group plc, |
||||||||
6.15%, Due 2/27/2037 |
365 | 398 | ||||||
Wal-Mart Stores, Inc., |
||||||||
7.55%, Due 2/15/2030 |
350 | 451 | ||||||
5.625%, Due 4/15/2041 |
205 | 212 | ||||||
Xerox Corp., |
||||||||
5.65%, Due 5/15/2013 |
75 | 81 | ||||||
8.25%, Due 5/15/2014 |
160 | 188 | ||||||
4.25%, Due 2/15/2015 |
400 | 424 | ||||||
60,618 | ||||||||
Other Government - 0.08% |
||||||||
Province of Ontario Canada, |
||||||||
4.10%, Due 6/16/2014 |
350 | 379 | ||||||
3.15%, Due 12/15/2017 |
325 | 328 | ||||||
707 | ||||||||
Utilities - 1.41% |
||||||||
Columbus Southern Power Co., |
||||||||
5.50%, Due 3/1/2013 |
660 | 709 | ||||||
Commonwealth Edison Co., |
||||||||
4.00%, Due 8/1/2020 |
175 | 172 | ||||||
Consolidated Edison Co of New York, Inc., |
||||||||
5.50%, Due 12/1/2039 |
350 | 360 | ||||||
Dominion Resources, Inc., |
||||||||
1.80%, Due 3/15/2014 |
800 | 804 | ||||||
Duke Energy Carolinas LLC, |
||||||||
5.10%, Due 4/15/2018 |
350 | 385 | ||||||
Duke Energy Indiana, Inc., |
||||||||
6.05%, Due 6/15/2016 |
520 | 591 | ||||||
EDF S.A., |
||||||||
4.60%, Due 1/27/2020D |
320 | 330 | ||||||
Energy Transfer Partners LP, |
||||||||
8.50%, Due 4/15/2014 |
605 | 710 | ||||||
9.00%, Due 4/15/2019 |
260 | 332 | ||||||
Enterprise Products Operating LLC, |
||||||||
5.65%, Due 4/1/2013 |
400 | 432 | ||||||
6.125%, Due 10/15/2039 |
310 | 316 | ||||||
Exelon Generation Co LLC, |
||||||||
5.20%, Due 10/1/2019 |
275 | 286 | ||||||
6.25%, Due 10/1/2039 |
310 | 315 | ||||||
FirstEnergy Solutions Corp., |
||||||||
4.80%, Due 2/15/2015 |
175 | 186 | ||||||
Midamerican Energy Holdings Co., |
||||||||
5.875%, Due 10/1/2012 |
760 | 810 | ||||||
6.125%, Due 4/1/2036 |
350 | 376 | ||||||
ONEOK Partners LP, |
||||||||
6.125%, Due 2/1/2041 |
400 | 413 | ||||||
Pacific Gas & Electric Co., |
||||||||
6.25%, Due 12/1/2013 |
175 | 194 | ||||||
3.50%, Due 10/1/2020 |
300 | 281 | ||||||
Progress Energy, Inc., |
||||||||
4.875%, Due 12/1/2019 |
350 | 369 | ||||||
Sempra Energy, |
||||||||
6.50%, Due 6/1/2016 |
315 | 363 | ||||||
Southern Power Co., |
||||||||
6.25%, Due 7/15/2012 |
525 | 556 | ||||||
Spectra Energy Capital LLC, |
||||||||
5.668%, Due 8/15/2014 |
310 | 343 | ||||||
5.65%, Due 3/1/2020 |
310 | 333 | ||||||
TransCanada PipeLines Ltd., |
||||||||
7.625%, Due 1/15/2039 |
340 | 430 | ||||||
6.10%, Due 6/1/2040 |
170 | 183 | ||||||
Union Electric Co., |
||||||||
6.70%, Due 2/1/2019 |
$ | 430 | $ | 500 | ||||
Virginia Electric and Power Co., |
||||||||
5.40%, Due 4/30/2018 |
350 | 388 | ||||||
Westar Energy, Inc., |
||||||||
6.00%, Due 7/1/2014 |
175 | 193 | ||||||
Xcel Energy, Inc., |
||||||||
5.613%, Due 4/1/2017 |
869 | 956 | ||||||
12,616 | ||||||||
Total
Corporate Obligations (Cost $124,712) |
133,225 | |||||||
NON-AGENCY MORTGAGE-BACKED OBLIGATIONS - 1.21% |
||||||||
Banc of America Commercial Mortgage, Inc., |
||||||||
5.317%, Due 9/10/2047, 2006-5 A2 |
332 | 337 | ||||||
5.634%, Due 4/10/2049, 2007-2 A2 |
491 | 501 | ||||||
Bear Stearns Commercial Mortgage Securities, |
||||||||
5.201%, Due 12/11/2038, 2006-PWR14 A4 |
665 | 721 | ||||||
5.54%, Due 9/11/2041, 2006-PW13 A4 |
1,070 | 1,179 | ||||||
4.831%, Due 7/11/2042, 2004-PWR5 A4 |
510 | 530 | ||||||
Citigroup Commercial Mortgage Trust, |
||||||||
4.38%, Due 10/15/2041, 2004-C2 A3 |
552 | 556 | ||||||
Citigroup/Deutsche Bank Commercial Mortgage
Trust, |
||||||||
5.886%, Due 11/15/2044, 2007-CD5
A4 |
930 | 1,030 | ||||||
GS Mortgage Securities Corp II, |
||||||||
4.607%, Due 7/10/2039, 2005-GG4 A3 |
350 | 357 | ||||||
3.679%, Due 8/10/2043, 2010-C1 A1D |
386 | 396 | ||||||
3.849%, Due 12/10/2043, 2010-C2D |
546 | 563 | ||||||
3.645%, Due 3/10/2044, 2011-GC3 A2 |
500 | 510 | ||||||
JP Morgan Chase Commercial Mortgage Securities
Corp., |
||||||||
4.678%, Due 7/15/2042, 2005-LDP2 A3A |
314 | 324 | ||||||
3.853%, Due 6/15/2043, 2010-C1 A1D |
688 | 713 | ||||||
4.388%, Due 2/16/2046, 2011-C3A A3D |
550 | 566 | ||||||
4.625%, Due 3/15/2046, 2005-LDP1 A2 |
409 | 415 | ||||||
5.932%, Due 2/12/2049, 2007-CB19 A4 |
550 | 606 | ||||||
5.629%, Due 2/12/2051, 2007-CB20 A2 |
664 | 686 | ||||||
LB-UBS Commercial Mortgage Trust, |
||||||||
5.424%, Due 2/15/2040, 2007-C1 A4 |
500 | 543 | ||||||
Wachovia Bank Commercial Mortgage Trust, |
||||||||
5.927%, Due 6/15/2049, 2007-C32 A2 |
310 | 325 | ||||||
Total Non-Agency Mortgage-Backed
Obligations (Cost $9,996) |
10,858 |
17
Par Amount | Value | |||||||
($000) | ||||||||
ASSET-BACKED SECURITIES - 0.88% |
$ | 353 | ||||||
American Express Credit Account Master Trust, |
||||||||
5.35%, Due 1/15/2014, 2006-2 A |
1,400 | 1,410 | ||||||
Citibank Credit Card Issuance Trust, |
||||||||
1.769%, Due 5/15/2014, 2009-A2 A2E |
650 | 659 | ||||||
CNH Equipment Trust, |
||||||||
1.17%, Due 5/15/2015, 2010-C A3 |
520 | 521 | ||||||
Discover Card Master Trust, |
||||||||
1.519%, Due 2/17/2015, 2009-A2 AE |
200 | 203 | ||||||
Ford Credit Auto Lease Trust, |
||||||||
1.04%, Due 3/15/2013, 2010-A A2D |
227 | 227 | ||||||
Ford Credit Floorplan Master Owner Trust, |
||||||||
1.769%, Due 9/15/2014, 2009-2 AE |
350 | 355 | ||||||
Harley-Davidson Motorcycle Trust, |
||||||||
1.87%, Due 2/15/2014, 2009-4 A3 |
350 | 352 | ||||||
Honda Auto Receivables Owner Trust, |
||||||||
3.30%, Due 9/15/2015, 2009-3 A4 |
470 | 487 | ||||||
Hyundai Auto Receivables Trust, |
||||||||
3.15%, Due 3/15/2016, 2009-A A4 |
270 | 281 | ||||||
John Deere Owner Trust, |
||||||||
2.59%, Due 10/15/2013, 2009-A A3 |
144 | 145 | ||||||
3.96%, Due 5/16/2016, 2009-A A4 |
265 | 274 | ||||||
Nissan Master Owner Trust Receivables, |
||||||||
1.369%, Due 1/15/2015, 2010-AA AD E |
650 | 657 | ||||||
Volkswagen Auto Loan Enhanced Trust, |
||||||||
0.66%, Due 5/21/2012, 2010-1 A2 |
74 | 74 | ||||||
6.24%, Due 7/20/2015, 2008-2 A4A |
400 | 424 | ||||||
World Omni Auto Receivables Trust, |
||||||||
1.11%, Due 5/15/2015, 2011-A A3 |
380 | 380 | ||||||
Total Asset-Backed Securities (Cost $7,764) |
7,867 | |||||||
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 6.00% |
||||||||
Federal Home Loan Mortgage Corporation |
||||||||
4.50%, Due 3/1/2019 |
396 | 421 | ||||||
5.00%, Due 10/1/2020 |
156 | 168 | ||||||
4.50%, Due 5/1/2025 |
2,031 | 2,149 | ||||||
3.50%, Due 10/1/2025 |
1,098 | 1,114 | ||||||
4.00%, Due 3/15/2026 |
805 | 848 | ||||||
5.00%, Due 8/1/2033 |
858 | 911 | ||||||
5.50%, Due 2/1/2034 |
720 | 779 | ||||||
5.00%, Due 3/1/2034 |
652 | 692 | ||||||
6.00%, Due 6/1/2034 |
502 | 555 | ||||||
6.00%, Due 8/1/2034 |
398 | 439 | ||||||
5.00%, Due 8/1/2035 |
620 | 657 | ||||||
5.00%, Due 9/1/2035 |
1,224 | 1,297 | ||||||
6.00%, Due 8/1/2036 |
335 | 367 | ||||||
5.50%, Due 11/1/2036 |
587 | 632 | ||||||
5.50%, Due 4/1/2037 |
797 | 858 | ||||||
5.50%, Due 5/1/2037 |
402 | 433 | ||||||
6.00%, Due 9/1/2037 |
256 | 280 | ||||||
5.50%, Due 12/1/2037 |
678 | 731 | ||||||
6.00%, Due 3/1/2038 |
1,183 | 1,296 | ||||||
5.50%, Due 5/1/2038 |
337 | 363 | ||||||
5.50%, Due 10/1/2039 |
734 | 790 | ||||||
4.00%, Due 1/1/2041 |
1,491 | 1,483 | ||||||
4.50%, Due 2/1/2041 |
1,495 | 1,538 | ||||||
18,801 | ||||||||
Federal National Mortgage Association |
||||||||
5.50%, Due 2/1/2014 |
$ | 97 | $ | 105 | ||||
6.00%, Due 4/1/2016 |
126 | 137 | ||||||
5.00%, Due 12/1/2017 |
359 | 387 | ||||||
4.50%, Due 9/1/2018 |
240 | 256 | ||||||
4.00%, Due 8/1/2020 |
429 | 451 | ||||||
5.00%, Due 12/1/2023 |
281 | 300 | ||||||
4.50%, Due 4/1/2024 |
539 | 572 | ||||||
4.50%, Due 3/1/2025 |
534 | 566 | ||||||
4.50%, Due 5/1/2025 |
1,170 | 1,236 | ||||||
3.50%, Due 1/1/2026 |
393 | 399 | ||||||
5.00%, Due 3/1/2034 |
936 | 994 | ||||||
4.50%, Due 9/1/2034 |
452 | 469 | ||||||
5.50%, Due 12/1/2035 |
451 | 488 | ||||||
5.50%, Due 1/1/2036 |
514 | 556 | ||||||
5.00%, Due 2/1/2036 |
434 | 460 | ||||||
5.50%, Due 2/1/2036 |
421 | 455 | ||||||
5.00%, Due 3/1/2036 |
786 | 834 | ||||||
5.50%, Due 4/1/2036 |
562 | 607 | ||||||
6.00%, Due 9/1/2036 |
442 | 485 | ||||||
6.50%, Due 9/1/2036 |
941 | 1,062 | ||||||
5.50%, Due 12/1/2036 |
722 | 779 | ||||||
5.50%, Due 2/1/2037 |
726 | 783 | ||||||
5.50%, Due 8/1/2037 |
578 | 625 | ||||||
5.50%, Due 3/1/2038 |
1,182 | 1,273 | ||||||
5.00%, Due 6/1/2038 |
1,156 | 1,222 | ||||||
5.50%, Due 6/1/2038 |
1,541 | 1,661 | ||||||
6.00%, Due 9/1/2038 |
251 | 275 | ||||||
4.50%, Due 1/1/2040 |
1,821 | 1,877 | ||||||
5.00%, Due 7/1/2040 |
2,013 | 2,129 | ||||||
4.00%, Due 9/1/2040 |
1,414 | 1,410 | ||||||
5.00%, Due 1/1/2041 |
2,145 | 2,266 | ||||||
25,119 | ||||||||
Government National Mortgage Association |
||||||||
7.00%, Due 12/15/2025 |
189 | 217 | ||||||
6.50%, Due 8/15/2027 |
211 | 239 | ||||||
6.50%, Due 11/15/2027 |
218 | 248 | ||||||
7.50%, Due 12/15/2028 |
176 | 204 | ||||||
5.50%, Due 7/15/2033 |
543 | 595 | ||||||
6.00%, Due 12/15/2033 |
562 | 627 | ||||||
5.00%, Due 10/15/2039 |
3,025 | 3,260 | ||||||
5.50%, Due 2/20/2034 |
767 | 838 | ||||||
5.50%, Due 2/15/2040 |
1,189 | 1,295 | ||||||
4.50%, Due 10/20/2040 |
1,101 | 1,153 | ||||||
5.00%, Due 2/20/2041 |
1,070 | 1,148 | ||||||
9,824 | ||||||||
Total U.S. Agency Mortgage-Backed
Obligations (Cost $51,547) |
53,744 | |||||||
U.S. AGENCY OBLIGATIONS - 4.76% |
||||||||
Federal Home Loan Mortgage Corporation |
||||||||
4.50%, Due 1/15/2015 |
22,140 | 24,494 | ||||||
Federal National Mortgage Association |
||||||||
5.125%, Due 1/2/2014 |
645 | 708 | ||||||
4.625%, Due 10/15/2014 |
1,000 | 1,109 | ||||||
6.25%, Due 5/15/2029 |
12,200 | 14,840 | ||||||
16,657 | ||||||||
18
Par Amount | Value | |||||||
($000) | ||||||||
Government National Mortgage Association |
||||||||
1.692%, Due 11/16/2035 |
347 | 347 | ||||||
2.989%, Due 3/16/2039 |
988 | 1,008 | ||||||
1,437 | ||||||||
Total U.S. Agency Obligations (Cost $37,905) |
42,588 | |||||||
U.S. TREASURY OBLIGATIONS - 4.68% |
||||||||
U.S. Treasury Bonds |
||||||||
7.875%, Due 2/15/2021 |
1,200 | 1,667 | ||||||
6.25%, Due 8/15/2023 |
800 | 1,005 | ||||||
6.875%, Due 8/15/2025 |
580 | 773 | ||||||
5.25%, Due 11/15/2028 |
750 | 858 | ||||||
4.75%, Due 2/15/2037 |
130 | 138 | ||||||
4.50%, Due 8/15/2039 |
1,630 | 1,655 | ||||||
4.25%, Due 11/15/2040 |
3,885 | 3,777 | ||||||
9,873 | ||||||||
U.S. Treasury Notes |
||||||||
1.375%, Due 1/15/2013 |
2,480 | 2,517 | ||||||
2.625%, Due 7/31/2014 |
5,000 | 5,236 | ||||||
2.25%, Due 1/31/2015 |
1,600 | 1,650 | ||||||
2.50%, Due 4/30/2015 |
1,000 | 1,039 | ||||||
2.00%, Due 1/31/2016 |
3,600 | 3,621 | ||||||
3.00%, Due 9/30/2016 |
600 | 627 | ||||||
3.125%, Due 10/31/2016 |
4,500 | 4,723 | ||||||
4.25%, Due 8/15/2015 |
1,200 | 1,330 | ||||||
3.75%, Due 11/15/2018 |
2,500 | 2,663 | ||||||
3.625%, Due 2/15/2020 |
1,975 | 2,054 | ||||||
3.625%, Due 2/15/2021 |
6,380 | 6,552 | ||||||
32,012 | ||||||||
Total U.S. Treasury Obligations (Cost $40,736) |
41,885 |
Par Amount | ||||||||
MUNICIPAL OBLIGATIONS - 0.38% |
||||||||
Municipal Electric Authority of Georgia, |
||||||||
6.64%, Due 4/1/2057 |
1,920 | 1,827 | ||||||
6.66%, Due 4/1/2057 |
710 | 668 | ||||||
New Jersey State Turnpike Authority, |
||||||||
7.102%, Due 1/1/2041 |
790 | 890 | ||||||
Total Municipal Obligations (Cost $3,407) |
3,385 | |||||||
Shares | ||||||||
SHORT-TERM INVESTMENTS - 4.62% |
||||||||
JPMorgan U.S. Government Money Market Fund |
20,398,562 | 20,399 |
Par Amount | ||||||||
United States Treasury Bill, |
||||||||
0.193%, Due 8/25/2011 |
5,900 | 5,896 | ||||||
United States Treasury Bill, |
||||||||
0.01%, Due 3/8/2012 |
15,120 | 15,089 | ||||||
Total Short-Term Investments (Cost $41,384) |
41,384 | |||||||
TOTAL INVESTMENTS - 99.32% (Cost $796,243) |
889,447 | |||||||
OTHER ASSETS, NET OF LIABILITIES - 0.68% |
6,113 | |||||||
TOTAL NET ASSETS - 100.00% |
$ | 895,560 | ||||||
A | Non-income producing security. | |
B | ADR American Depositary Receipt. | |
C | REIT | |
D | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $13,029 or 1.46% of net assets. The Fund has no right to demand registration of these securities. | |
E | The coupon rate shown on floating or adjustable rate securities represents the rate at period end. The due date on these types of securities reflects the final maturity date. |
19
Unrealized | ||||||||||||||||
Number of | Appreciation/ | |||||||||||||||
Contracts | Expiration Date | Value | (Depreciation) | |||||||||||||
S&P 500 Mini E Index Future |
294 | June, 2011 | 19,988 | 802 | ||||||||||||
19,988 | 802 | |||||||||||||||
20
Shares | Value | |||||||
($000) | ||||||||
COMMON STOCK - 96.19% |
||||||||
CONSUMER DISCRETIONARY - 15.77% |
||||||||
Auto Components - 0.54% |
||||||||
BorgWarner, Inc. |
6,800 | $ | 525 | |||||
Automobiles - 0.50% |
||||||||
Ford Motor Co. |
31,100 | 481 | ||||||
Hotels, Restaurants & Leisure - 3.29% |
||||||||
Ctrip.com International Ltd., ADRA |
9,600 | 468 | ||||||
Darden Restaurants, Inc. |
15,404 | 724 | ||||||
Las Vegas Sands Corp.B |
15,500 | 729 | ||||||
The Cheesecake Factory IncB |
25,377 | 746 | ||||||
Yum! Brands, Inc. |
9,400 | 504 | ||||||
3,171 | ||||||||
Household Durables - 0.88% |
||||||||
Whirlpool Corp. |
9,829 | 847 | ||||||
Internet & Catalog Retail - 2.36% |
||||||||
Amazon.com, Inc.B |
5,850 | 1,150 | ||||||
priceline.com, Inc.B |
2,050 | 1,121 | ||||||
2,271 | ||||||||
Media - 1.22% |
||||||||
Scripps Networks Interactive, Inc. |
9,200 | 473 | ||||||
The Walt Disney Co. |
16,300 | 703 | ||||||
1,176 | ||||||||
Multiline Retail - 0.96% |
||||||||
Costco Wholesale Corp. |
6,000 | 485 | ||||||
Dollar General Corp.B |
13,400 | 437 | ||||||
922 | ||||||||
Specialty Retail - 5.15% |
||||||||
AutoZone, Inc.B |
2,885 | 815 | ||||||
Dollar Tree, Inc.B |
16,003 | 920 | ||||||
Ltd Brands, Inc. |
25,551 | 1,051 | ||||||
OReilly Automotive, Inc.B |
8,850 | 523 | ||||||
PetSmart, Inc. |
18,911 | 797 | ||||||
Ross Stores, Inc. |
11,611 | 856 | ||||||
4,962 | ||||||||
Textiles & Apparel - 0.87% |
||||||||
Coach, Inc. |
13,943 | 834 | ||||||
Total Consumer Discretionary |
15,189 | |||||||
CONSUMER STAPLES - 1.93% |
||||||||
Food & Drug Retailing - 0.85% |
||||||||
Walgreen Co. |
19,162 | 819 | ||||||
Food Products - 0.49% |
||||||||
Green Mountain Coffee Roasters, Inc.B |
7,000 | 469 | ||||||
Personal Products - 0.59% |
||||||||
The Estee Lauder Cos Inc. |
5,900 | 572 | ||||||
Total Consumer Staples |
1,860 | |||||||
ENERGY - 6.99% |
||||||||
Energy Equipment & Services - 3.58% |
||||||||
FMC Technologies, Inc.B |
20,000 | 930 | ||||||
Halliburton Co. |
9,600 | 485 | ||||||
Helmerich & Payne, Inc. |
12,753 | 846 | ||||||
Schlumberger Ltd. |
13,200 | 1,184 | ||||||
3,445 | ||||||||
Oil & Gas - 3.41% |
||||||||
Concho Resources, Inc.B |
4,500 | 481 | ||||||
Occidental Petroleum Corp. |
17,137 | 1,958 | ||||||
Peabody Energy Corp. |
12,672 | 847 | ||||||
3,286 | ||||||||
Total Energy |
6,731 | |||||||
FINANCIALS - 6.58% |
||||||||
Diversified Financials - 5.78% |
||||||||
American Express Co. |
16,743 | 822 | ||||||
Ameriprise Financial, Inc. |
13,575 | 842 | ||||||
CME Group, Inc. |
1,500 | 444 | ||||||
Franklin Resources, Inc. |
5,300 | 684 | ||||||
IntercontinentalExchange, Inc.B |
3,550 | 427 | ||||||
JPMorgan Chase & Co. |
16,000 | 730 | ||||||
TD Ameritrade Holding Corp. |
20,800 | 448 | ||||||
The Charles Schwab Corp. |
25,000 | 458 | ||||||
The Goldman Sachs Group Inc. |
4,700 | 710 | ||||||
5,565 | ||||||||
Real Estate - 0.80% |
||||||||
CB Richard Ellis Group, Inc.B |
29,000 | 775 | ||||||
Total Financials |
6,340 | |||||||
HEALTH CARE - 8.51% |
||||||||
Biotechnology - 0.78% |
||||||||
Gilead Sciences, Inc.B |
19,301 | 750 | ||||||
Health Care Equipment & Supplies - 1.09% |
||||||||
Edwards Lifesciences Corp.B |
2,900 | 250 | ||||||
Intuitive Surgical, Inc.B |
1,000 | 350 | ||||||
Varian Medical Systems, Inc. |
6,400 | 449 | ||||||
1,049 | ||||||||
Health Care Providers & Services - 5.31% |
||||||||
AmerisourceBergen Corp. |
22,379 | 909 | ||||||
Cardinal Health, Inc. |
20,439 | 893 | ||||||
Express Scripts, Inc.B |
36,269 | 2,058 | ||||||
UnitedHealth Group, Inc. |
25,409 | 1,251 | ||||||
5,111 | ||||||||
Pharmaceuticals - 1.33% |
||||||||
Mylan, Inc.B |
18,600 | 464 | ||||||
Perrigo Co. |
1,550 | 140 | ||||||
Shire plc, ADRA |
7,300 | 680 | ||||||
1,284 | ||||||||
Total Health Care |
8,194 | |||||||
INDUSTRIALS - 18.96% |
||||||||
Aerospace & Defense - 1.46% |
||||||||
Goodrich Corp. |
5,500 | 486 | ||||||
United Technologies Corp. |
10,300 | 923 | ||||||
1,409 | ||||||||
Air Freight & Couriers - 0.54% |
||||||||
CH Robinson Worldwide, Inc. |
6,500 | 521 | ||||||
21
Shares | Value | |||||||
($000) | ||||||||
Construction & Engineering - 0.83% |
||||||||
Fluor Corp. |
11,400 | $ | 797 | |||||
Industrial Conglomerates - 2.65% |
||||||||
General Electric Co. |
38,640 | 790 | ||||||
Honeywell International, Inc. |
14,315 | 877 | ||||||
KBR, Inc. |
23,146 | 888 | ||||||
2,555 | ||||||||
Machinery - 10.24% |
||||||||
Caterpillar, Inc. |
7,395 | 853 | ||||||
Cummins, Inc. |
7,791 | 936 | ||||||
Danaher Corp. |
23,300 | 1,287 | ||||||
Deere & Co. |
18,614 | 1,816 | ||||||
Dover Corp. |
12,660 | 861 | ||||||
Eaton Corp. |
15,678 | 839 | ||||||
Illinois Tool Works, Inc. |
13,800 | 806 | ||||||
Joy Global, Inc. |
8,704 | 879 | ||||||
Oshkosh Corp. |
22,840 | 723 | ||||||
Parker Hannifin Corp. |
9,119 | 860 | ||||||
9,860 | ||||||||
Road & Rail - 2.31% |
||||||||
Union Pacific Corp. |
21,525 | 2,227 | ||||||
Trading Companies & Distributors - 0.93% |
||||||||
WW Grainger, Inc. |
5,883 | 892 | ||||||
Total Industrials |
18,261 | |||||||
INFORMATION TECHNOLOGY - 32.33% |
||||||||
Communications Equipment - 1.20% |
||||||||
Cisco Systems, Inc. |
44,215 | 776 | ||||||
Juniper Networks, Inc.B |
9,800 | 376 | ||||||
1,152 | ||||||||
Computers & Peripherals - 11.94% |
||||||||
Apple, Inc. |
8,620 | 3,001 | ||||||
Dell, Inc.B |
52,497 | 814 | ||||||
EMC Corp/Massachusetts |
76,785 | 2,176 | ||||||
Hewlett-Packard Co. |
16,546 | 668 | ||||||
International Business Machines Corp. |
5,116 | 873 | ||||||
Lexmark International, Inc.B |
20,947 | 676 | ||||||
NetApp, Inc.B |
9,600 | 499 | ||||||
SanDisk Corp.B |
18,156 | 892 | ||||||
Teradata Corp.B |
17,039 | 953 | ||||||
Western Digital Corp.B |
24,084 | 959 | ||||||
11,511 | ||||||||
Internet Software & Services - 2.99% |
||||||||
Baidu Inc/China, ADRA B |
5,050 | 750 | ||||||
Google, Inc.B |
3,059 | 1,664 | ||||||
VeriSign, Inc. |
12,500 | 462 | ||||||
2,876 | ||||||||
IT Consulting & Services - 2.82% |
||||||||
Cognizant Technology Solutions Corp.B |
24,000 | 1,989 | ||||||
Visa, Inc. |
9,250 | 723 | ||||||
2,712 | ||||||||
Semiconductor Equipment & Products - 6.80% |
||||||||
Altera Corp. |
31,331 | 1,526 | ||||||
Intel Corp. |
34,521 | 801 | ||||||
QLogic Corp.B |
45,227 | 813 | ||||||
QUALCOMM, Inc. |
25,600 | 1,455 | ||||||
Skyworks Solutions, Inc. |
21,852 | 687 | ||||||
Texas Instruments, Inc. |
35,930 | 1,277 | ||||||
6,559 | ||||||||
Software - 6.58% |
||||||||
Autodesk, Inc. |
14,700 | 661 | ||||||
Cerner Corp.B |
4,300 | 517 | ||||||
Citrix Systems, Inc.B |
9,200 | 776 | ||||||
Intuit, Inc.B |
9,300 | 517 | ||||||
Microsoft Corp. |
27,145 | 706 | ||||||
Oracle Corp. |
63,226 | 2,279 | ||||||
Salesforce.com, Inc.B |
4,400 | 610 | ||||||
VMware, Inc.B |
2,900 | 277 | ||||||
6,343 | ||||||||
Total Information Technology |
31,153 | |||||||
MATERIALS - 4.39% |
||||||||
Chemicals - 1.42% |
||||||||
Albemarle Corp. |
13,992 | 987 | ||||||
Ecolab, Inc. |
7,150 | 377 | ||||||
1,364 | ||||||||
Metals & Mining - 2.97% |
||||||||
Cliffs Natural Resources, Inc. |
6,160 | 577 | ||||||
Freeport-McMoRan Copper & Gold, Inc. |
15,254 | 840 | ||||||
Walter Energy, Inc. |
10,501 | 1,452 | ||||||
2,869 | ||||||||
Total Materials |
4,233 | |||||||
TELECOMMUNICATION SERVICES - 0.73% |
||||||||
American Tower Corp. |
13,400 | 701 | ||||||
Total Common Stock (Cost $67,743) |
92,662 | |||||||
SHORT-TERM INVESTMENTS - 3.14%
(Cost $3,024) |
||||||||
JPMorgan U.S. Government
Money Market Fund |
3,024,233 | 3,024 | ||||||
TOTAL INVESTMENTS - 99.33% (Cost $70,767) |
95,686 | |||||||
OTHER ASSETS, NET OF LIABILITIES - 0.67% |
648 | |||||||
TOTAL NET ASSETS - 100.00% |
$ | 96,334 | ||||||
A | ADR American Depositary Receipt. | |
B | Non-income producing security. |
22
Unrealized | ||||||||||||||||
Number of | Appreciation/ | |||||||||||||||
Contracts | Expiration Date | Value | (Depreciation) | |||||||||||||
S&P 500 Mini E Index Future |
48 | June, 2011 | 3,263 | 107 | ||||||||||||
3,263 | 107 | |||||||||||||||
23
Shares | Value | |||||||
($000 | ) | |||||||
COMMON STOCK - 93.60% |
||||||||
CONSUMER DISCRETIONARY - 12.21% |
||||||||
Hotels, Restaurants & Leisure - 2.14% |
||||||||
International Game Technology |
85,200 | $ | 1,507 | |||||
Royal Caribbean Cruises Ltd. |
26,900 | 1,071 | ||||||
2,578 | ||||||||
Household Durables - 2.84% |
||||||||
Fortune Brands, Inc. |
16,400 | 1,067 | ||||||
Newell Rubbermaid, Inc. |
28,000 | 534 | ||||||
Sealy Corp. |
93,775 | 248 | ||||||
Stanley Black & Decker, Inc. |
21,600 | 1,569 | ||||||
3,418 | ||||||||
Media - 1.72% |
||||||||
Omnicom Group, Inc. |
42,150 | 2,073 | ||||||
Multiline Retail - 1.36% |
||||||||
JC Penney Co., Inc. |
42,775 | 1,645 | ||||||
Specialty Retail - 4.15% |
||||||||
Hanesbrands, Inc.A |
48,600 | 1,580 | ||||||
Ltd Brands, Inc. |
29,200 | 1,202 | ||||||
Rent-A-Center, Inc. |
38,850 | 1,183 | ||||||
The Sherwin-Williams Co. |
12,675 | 1,043 | ||||||
5,008 | ||||||||
Total Consumer Discretionary |
14,722 | |||||||
CONSUMER STAPLES - 3.09% |
||||||||
Personal Products - 0.98% |
||||||||
Avon Products, Inc. |
40,175 | 1,180 | ||||||
Tobacco - 2.11% |
||||||||
Lorillard, Inc. |
12,000 | 1,279 | ||||||
Reynolds American, Inc. |
34,100 | 1,265 | ||||||
2,544 | ||||||||
Total Consumer Staples |
3,724 | |||||||
ENERGY - 3.41% |
||||||||
Murphy Oil Corp. |
19,800 | 1,534 | ||||||
Seadrill Ltd. |
45,800 | 1,633 | ||||||
Spectra Energy Corp. |
32,500 | 944 | ||||||
Total Energy |
4,111 | |||||||
FINANCIALS - 26.76% |
||||||||
Banks - 6.51% |
||||||||
Comerica, Inc. |
22,675 | 860 | ||||||
Fifth Third Bancorp |
178,950 | 2,374 | ||||||
KeyCorp. |
122,000 | 1,058 | ||||||
New York Community Bancorp, Inc. |
56,600 | 940 | ||||||
PNC Financial Services Group, Inc. |
24,800 | 1,546 | ||||||
Regions Financial Corp. |
145,250 | 1,066 | ||||||
7,844 | ||||||||
Diversified Financials - 6.08% |
||||||||
Ameriprise Financial, Inc. |
20,900 | 1,297 | ||||||
Capital One Financial Corp. |
33,600 | 1,839 | ||||||
Discover Financial Services |
70,500 | 1,751 | ||||||
SLM Corp. |
73,400 | 1,218 | ||||||
The Western Union Co. |
57,700 | 1,226 | ||||||
7,331 | ||||||||
Insurance - 10.99% |
||||||||
Axis Capital Holdings Ltd. |
47,875 | 1,693 | ||||||
Chubb Corp. |
9,300 | 606 | ||||||
Delphi Financial Group, Inc. |
56,500 | 1,805 | ||||||
Protective Life Corp. |
57,425 | 1,545 | ||||||
RenaissanceRe Holdings Ltd. |
24,425 | 1,717 | ||||||
Torchmark Corp. |
26,675 | 1,785 | ||||||
Validus Holdings Ltd. |
37,607 | 1,224 | ||||||
Willis Group Holdings plc |
40,400 | 1,669 | ||||||
XL Group plc |
49,600 | 1,211 | ||||||
13,255 | ||||||||
Real Estate - 3.18% |
||||||||
Annaly Capital Management, Inc.B |
42,200 | 753 | ||||||
Essex Property Trust, Inc. |
8,700 | 1,179 | ||||||
Hospitality Properties TrustB |
78,725 | 1,901 | ||||||
3,833 | ||||||||
Total Financials |
32,263 | |||||||
HEALTH CARE - 11.35% |
||||||||
Health Care Equipment & Supplies - 3.55% |
||||||||
Becton Dickinson and Co. |
13,800 | 1,186 | ||||||
Immucor, Inc.A |
56,225 | 1,227 | ||||||
Zimmer Holdings, Inc.A |
28,625 | 1,868 | ||||||
4,281 | ||||||||
Health Care Providers & Services - 6.33% |
||||||||
Aetna, Inc. |
41,100 | 1,701 | ||||||
Cardinal Health, Inc. |
31,500 | 1,376 | ||||||
CIGNA Corp. |
28,900 | 1,353 | ||||||
Coventry Health Care, Inc.A |
52,300 | 1,688 | ||||||
Omnicare, Inc. |
48,100 | 1,511 | ||||||
7,629 | ||||||||
Pharmaceuticals - 1.47% |
||||||||
Forest Laboratories, Inc.A |
53,425 | 1,772 | ||||||
Total Health Care |
13,682 | |||||||
INDUSTRIALS - 18.93% |
||||||||
Aerospace & Defense - 6.61% |
||||||||
Curtiss-Wright Corp. |
49,575 | 1,648 | ||||||
Goodrich Corp. |
11,700 | 1,034 | ||||||
L-3 Communications Holdings, Inc. |
43,550 | 3,492 | ||||||
Spirit Aerosystems Holdings, Inc.A |
72,875 | 1,793 | ||||||
7,967 | ||||||||
Building Products - 2.02% |
||||||||
Masco Corp. |
181,050 | 2,430 | ||||||
Commercial Services & Supplies - 2.75% |
||||||||
Apollo Group, Inc.A |
21,850 | 875 | ||||||
Con-way, Inc. |
41,850 | 1,628 | ||||||
Dun & Bradstreet Corp. |
9,900 | 814 | ||||||
3,317 | ||||||||
Electrical Equipment - 4.88% |
||||||||
Brady Corp. |
58,350 | 2,201 | ||||||
Molex, Inc. |
68,900 | 1,860 | ||||||
TE Connectivity Ltd. |
50,800 | 1,821 | ||||||
5,882 | ||||||||
Machinery - 2.67% |
||||||||
Eaton Corp. |
20,200 | 1,081 | ||||||
ITT Corp. |
16,100 | 930 |
24
Shares | Value | |||||||
($000 | ) | |||||||
SPX Corp. |
14,000 | $ | 1,211 | |||||
3,222 | ||||||||
Total Industrials |
22,818 | |||||||
INFORMATION TECHNOLOGY - 7.10% |
||||||||
Electronic Equipment & Instruments - 2.39% |
||||||||
Avnet, Inc. |
51,525 | 1,871 | ||||||
Ingram Micro, Inc.A |
53,350 | 999 | ||||||
2,870 | ||||||||
IT Consulting & Services - 0.90% |
||||||||
Computer Sciences Corp. |
21,400 | 1,091 | ||||||
Office Electronics - 1.22% |
||||||||
Xerox Corp. |
145,400 | 1,467 | ||||||
Semiconductor Equipment & Products - 1.23% |
||||||||
Microchip Technology, Inc. |
36,200 | 1,486 | ||||||
Software - 1.36% |
||||||||
CA, Inc. |
66,800 | 1,643 | ||||||
Total Information Technology |
8,557 | |||||||
MATERIALS - 4.27% |
||||||||
Chemicals - 1.35% |
||||||||
PPG Industries, Inc. |
17,225 | 1,631 | ||||||
Containers & Packaging - 2.92% |
||||||||
Jarden Corp. |
48,725 | 1,773 | ||||||
Sealed Air Corp. |
67,600 | 1,742 | ||||||
3,515 | ||||||||
Total Materials |
5,146 | |||||||
UTILITIES - 6.48% |
||||||||
Electric Utilities - 5.07% |
||||||||
CenterPoint Energy, Inc. |
74,100 | 1,378 | ||||||
Edison International |
29,725 | 1,167 | ||||||
Entergy Corp. |
21,225 | 1,481 | ||||||
Pinnacle West Capital Corp. |
22,700 | 985 | ||||||
Xcel Energy, Inc. |
45,300 | 1,102 | ||||||
6,113 | ||||||||
Gas Utilities - 1.41% |
||||||||
MDU Resources Group, Inc. |
44,450 | 1,062 | ||||||
Oneok, Inc. |
9,200 | 643 | ||||||
1,705 | ||||||||
Total Utilities |
7,818 | |||||||
Total Common Stock (Cost $89,436) |
112,841 | |||||||
PREFERRED STOCK - 0.63% (Cost $940) |
||||||||
CONSUMER DISCRETIONARY - 0.63% |
||||||||
Sealy Corp.A |
9,571 | 762 | ||||||
SHORT-TERM INVESTMENTS - 7.12%
(Cost $8,586) |
||||||||
JPMorgan U.S. Government
Money Market Fund |
8,586,292 | 8,586 | ||||||
TOTAL INVESTMENTS - 101.35% (Cost $98,962) |
122,189 | |||||||
LIABILITIES, NET OF OTHER ASSETS (1.35%) |
(1,632 | ) | ||||||
TOTAL NET ASSETS - 100.00% |
$ | 120,557 | ||||||
A | Non-income producing security. | |
B | REIT |
25
Unrealized | ||||||||||||||||
Number of | Appreciation/ | |||||||||||||||
Contracts | Expiration Date | Value | (Depreciation) | |||||||||||||
S&P Midcap 400 Mini E Index Future |
9,100 | June, 2011 | 9,223 | 194 | ||||||||||||
9,223 | 194 | |||||||||||||||
26
Balanced | Large Cap | Mid-Cap | ||||||||||
Fund | Growth Fund | Value Fund | ||||||||||
Assets: |
||||||||||||
Investments in unaffiliated securities, at value A. |
$ | 889,447 | $ | 95,686 | $ | 122,189 | ||||||
Cash |
9 | | 1 | |||||||||
Deposit with brokers for futures contracts |
1,341 | 221 | 570 | |||||||||
Receivable for investments sold |
1,482 | 315 | 260 | |||||||||
Dividends and interest receivable |
3,454 | 41 | 98 | |||||||||
Receivable for fund shares sold |
1,354 | 587 | 234 | |||||||||
Receivable for tax reclaims |
37 | | | |||||||||
Receivable for expense reimbursement (Note 2) |
| | 6 | |||||||||
Receivable for variation margin on open futures contracts. |
72 | 12 | 36 | |||||||||
Prepaid expenses |
54 | 66 | 89 | |||||||||
Total assets |
897,250 | 96,928 | 123,483 | |||||||||
Liabilities: |
||||||||||||
Payable for investments purchased |
1,242 | 534 | 2,663 | |||||||||
Payable for fund shares redeemed |
91 | | 172 | |||||||||
Management and investment advisory fees payable (Note 2) |
188 | 39 | 54 | |||||||||
Administrative service and service fees payable (Note 2) |
81 | 4 | 15 | |||||||||
Professional fees payable |
26 | 11 | 11 | |||||||||
Trustee fees payable |
12 | 1 | 2 | |||||||||
Prospectus and shareholder reports |
15 | | | |||||||||
Other liabilities |
35 | 5 | 9 | |||||||||
Total liabilities |
1,690 | 594 | 2,926 | |||||||||
Net Assets |
$ | 895,560 | $ | 96,334 | $ | 120,557 | ||||||
Analysis of Net Assets: |
||||||||||||
Paid-in-capital |
866,322 | 89,356 | 111,178 | |||||||||
Undistributed net investment income |
(1,202 | ) | (5 | ) | 290 | |||||||
Accumulated net realized (loss) |
(63,567 | ) | (18,042 | ) | (14,332 | ) | ||||||
Unrealized appreciation of investments, futures contracts, and
foreign currency |
94,007 | 25,025 | 23,421 | |||||||||
Net assets |
$ | 895,560 | $ | 96,334 | $ | 120,557 | ||||||
Shares outstanding (no par value): |
||||||||||||
Institutional Class |
2,553,559 | 33,545 | 4,005,582 | |||||||||
Y Class |
30,185 | 3,768 | 1,314 | |||||||||
Investor Class |
7,045,266 | N/A | 678,501 | |||||||||
Advisor Class |
439,669 | N/A | 6,365 | |||||||||
AMR Class |
58,850,202 | 13,770,550 | 6,337,522 | |||||||||
A Class |
26,355 | 72,976 | 11,636 | |||||||||
C Class |
15,255 | 194 | 121 | |||||||||
Net asset value, offering and redemption price per share: |
||||||||||||
Institutional Class |
$ | 13.66 | $ | 6.89 | $ | 10.92 | ||||||
Y Class |
$ | 13.69 | $ | 6.88 | $ | 10.92 | ||||||
Investor Class |
$ | 12.64 | N/A | $ | 10.91 | |||||||
Advisor Class |
$ | 13.11 | N/A | $ | 10.75 | |||||||
AMR Class |
$ | 13.00 | $ | 6.94 | $ | 10.92 | ||||||
A Class (net asset value and redemption price) |
$ | 12.76 | $ | 6.86 | $ | 10.82 | ||||||
A Class (offering price) |
$ | 13.54 | $ | 7.28 | $ | 11.48 | ||||||
C Class |
$ | 12.82 | $ | 6.85 | $ | 10.81 | ||||||
A Cost of investments in unaffiliated securities |
$ | 796,243 | $ | 70,767 | $ | 98,962 |
27
Large Cap | ||||||||||||
Balanced | Growth | Mid-Cap | ||||||||||
Fund | Fund | Value Fund | ||||||||||
Investment Income: |
||||||||||||
Dividend income from unaffiliated securities (net of foreign taxes) A |
$ | 6,771 | $ | 399 | $ | 1,182 | ||||||
Dividend income from affiliated securities |
1 | | | |||||||||
Interest income |
6,536 | | | |||||||||
Total investment income |
13,308 | 399 | 1,182 | |||||||||
Expenses: |
||||||||||||
Management and investment advisory fees (Note 2) |
995 | 238 | 322 | |||||||||
Administrative service fees (Note 2): |
||||||||||||
Institutional Class |
52 | | 44 | |||||||||
Investor Class |
130 | | 22 | |||||||||
Advisor Class |
9 | | | |||||||||
A Class |
| 1 | | |||||||||
AMR Class |
189 | 22 | 17 | |||||||||
Transfer agent fees: |
||||||||||||
Institutional Class |
1 | | 6 | |||||||||
Y Class |
| 2 | 2 | |||||||||
Investor Class |
4 | | 1 | |||||||||
AMR Class |
20 | 4 | 3 | |||||||||
A Class |
| 1 | 2 | |||||||||
C Class |
| 2 | 2 | |||||||||
Custody and fund accounting fees |
51 | 5 | 6 | |||||||||
Professional fees |
28 | 15 | 15 | |||||||||
Registration fees and expenses |
44 | 14 | 29 | |||||||||
Service fees (Note 2): |
||||||||||||
Investor Class |
144 | | 18 | |||||||||
Advisor Class |
8 | | | |||||||||
Distribution fees (Note 2): |
||||||||||||
Advisor Class |
8 | | | |||||||||
C Class |
1 | | | |||||||||
Prospectus and shareholder reports |
8 | 4 | 5 | |||||||||
Trustee fees |
31 | 3 | 4 | |||||||||
Other expenses |
46 | 5 | 11 | |||||||||
Total expenses |
1,769 | 316 | 509 | |||||||||
Net (fees waived and expenses reimbursed) (Note 2) |
| (4 | ) | (22 | ) | |||||||
Net expenses |
1,769 | 312 | 487 | |||||||||
Net investment income |
11,539 | 87 | 695 | |||||||||
Realized and unrealized gain (loss) on investments: |
||||||||||||
Net realized gain (loss) from: |
||||||||||||
Investments |
26,266 | 5,782 | 5,018 | |||||||||
Commission recapture (Note 1) |
14 | 1 | 4 | |||||||||
Futures contracts |
4,848 | 670 | 1,296 | |||||||||
Change in net unrealized appreciation or depreciation of: |
||||||||||||
Investments |
40,235 | 8,528 | 12,165 | |||||||||
Futures contracts |
(611 | ) | (10 | ) | (223 | ) | ||||||
Net gain on investments |
70,752 | 14,971 | 18,260 | |||||||||
Net increase in net assets resulting from operations |
$ | 82,291 | $ | 15,058 | $ | 18,955 | ||||||
A Foreign taxes |
$ | 23 | $ | 1 | $ | |
28
Balanced Fund | Large Cap Growth Fund | Mid-Cap Value Fund | ||||||||||||||||||||||
Six Months | Six Months | Year | Six Months | |||||||||||||||||||||
Ended | Year Ended | Ended | Ended | Ended | Year Ended | |||||||||||||||||||
April 30, | October 31, | April 30, | October | April 30, | October 31, | |||||||||||||||||||
2011 | 2010 | 2011 | 31, 2010 | 2011 | 2010 | |||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||
Increase (Decrease) in Net Assets: |
||||||||||||||||||||||||
Operations: |
||||||||||||||||||||||||
Net investment income |
$ | 11,539 | $ | 24,341 | $ | 87 | $ | 143 | $ | 695 | $ | 967 | ||||||||||||
Net realized gain on investments, futures
contracts, and foreign currency transactions |
31,128 | 27,481 | 6,453 | 4,153 | 6,318 | 1,543 | ||||||||||||||||||
Change in net unrealized appreciation or
depreciation of investments, futures contracts, and
foreign currency translations |
39,624 | 48,535 | 8,518 | 8,876 | 11,942 | 15,705 | ||||||||||||||||||
Net increase in net assets resulting from
operations |
82,291 | 100,357 | 15,058 | 13,172 | 18,955 | 18,214 | ||||||||||||||||||
Distributions to Shareholders: |
||||||||||||||||||||||||
Net investment income: |
||||||||||||||||||||||||
Institutional Class |
(457 | ) | (1,651 | ) | | | (30 | ) | (15 | ) | ||||||||||||||
Y Class |
(5 | ) | | | | | | |||||||||||||||||
Investor Class |
(846 | ) | (4,637 | ) | | | (343 | ) | (161 | ) | ||||||||||||||
Advisor Class |
(55 | ) | (314 | ) | | | (1 | ) | | |||||||||||||||
AMR Class |
(10,904 | ) | (42,865 | ) | (167 | ) | (342 | ) | (753 | ) | (561 | ) | ||||||||||||
A Class |
(2 | ) | | | | | | |||||||||||||||||
C Class |
(2 | ) | | | | | | |||||||||||||||||
Net distributions to shareholders |
(12,271 | ) | (49,467 | ) | (167 | ) | (342 | ) | (1,127 | ) | (737 | ) | ||||||||||||
Capital Share Transactions: |
||||||||||||||||||||||||
Proceeds from sales of shares |
30,336 | 75,404 | 12,917 | 46,887 | 54,917 | 42,825 | ||||||||||||||||||
Reinvestment of dividends and distributions |
12,233 | 49,350 | 167 | 342 | 1,127 | 736 | ||||||||||||||||||
Cost of shares redeemed |
(89,577 | ) | (115,828 | ) | (28,774 | ) | (34,211 | ) | (55,454 | ) | (38,192 | ) | ||||||||||||
Redemption fees |
| | | | 28 | 88 | ||||||||||||||||||
Net increase (decrease) in net assets from
capital share transactions |
(47,008 | ) | 8,926 | (15,690 | ) | 13,019 | 618 | 5,457 | ||||||||||||||||
Net increase (decrease) in net assets |
23,012 | 59,816 | (799 | ) | 25,849 | 18,446 | 22,934 | |||||||||||||||||
Net Assets: |
||||||||||||||||||||||||
Beginning of period |
872,548 | 812,732 | 97,133 | 71,284 | 102,111 | 79,177 | ||||||||||||||||||
End of Period * |
$ | 895,560 | $ | 872,548 | $ | 96,334 | $ | 97,133 | $ | 120,557 | $ | 102,111 | ||||||||||||
*Includes undistributed net investment income (loss) of |
$ | (1,202 | ) | $ | (724 | ) | $ | (5 | ) | $ | 75 | $ | 290 | $ | 722 | |||||||||
29
Class: | Offered to: | |
Institutional Class
|
Investors making an initial investment of $250,000 | |
Y Class
|
Investors making an initial investment of $100,000 | |
Investor Class
|
General public and investors investing through an intermediary | |
Advisor Class
|
Investors investing through an intermediary | |
A Class
|
General public and investors investing through an intermediary with applicable sales charges | |
C Class
|
General public and investors investing through an intermediary with applicable sales charges | |
AMR Class
|
Investors in the tax-exempt retirement and benefit plans of the Manager, AMR Corporation and its affiliates |
30
Level 1 Quoted prices in active markets for identical securities. | |||
Level 2 Prices determined using other significant observable inputs. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, and others. Level 2 securities are fixed-income securities that are valued using observable inputs as stated above. | |||
Level 3 Prices determined using other significant unobservable inputs. Unobservable inputs reflect the Funds own assumptions about the factors market participants would use in pricing an investment, and would be based on the best information available. |
Balanced Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock |
$ | 551,403 | | | $ | 551,403 | ||||||||||
Corporate Obligations |
| 133,225 | | 133,225 | ||||||||||||
Non-Agency Mortgage Backed Obligations. |
| 10,858 | | 10,858 | ||||||||||||
Asset Backed Securities |
| 7,867 | | 7,867 | ||||||||||||
U.S. Agency Mortgage Backed Obligations |
| 53,744 | | 53,744 | ||||||||||||
U.S. Agency Obligations |
| 42,588 | | 42,588 | ||||||||||||
U.S. Treasury Obligations |
| 41,885 | | 41,885 | ||||||||||||
Preferred Stock |
3,108 | | | 3,108 | ||||||||||||
Municipal Obligations |
| 3,385 | | 3,385 | ||||||||||||
Short-Term Investments |
41,384 | | | 41,384 | ||||||||||||
Total Investments in Securities |
$ | 595,895 | $ | 293,552 | $ | | $ | 889,447 | ||||||||
Futures Contracts |
$ | 802 | | | $ | 802 |
Large Cap Growth Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock |
$ | 92,662 | $ | | $ | | $ | 92,662 | ||||||||
Short-Term Investments |
3,024 | | | 3,024 | ||||||||||||
Total Investments in Securities |
$ | 95,686 | $ | | $ | | $ | 95,686 | ||||||||
Futures Contracts |
$ | 107 | | | $ | 107 |
Mid-Cap Value Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock |
112,841 | | | 112,841 | ||||||||||||
Preferred Stock |
762 | | | 762 | ||||||||||||
Short-Term Investments |
8,586 | | | 8,586 | ||||||||||||
Total Investments in Securities |
$ | 122,189 | $ | | $ | | $ | 122,189 | ||||||||
Futures Contracts |
194 | | | 194 |
31
Liability | ||||||||
Statement of Assets and Liabilities | Derivatives | Total | ||||||
Unrealized appreciation of investments, futures contracts, and foreign currency |
Equity Contracts* | $ | 802 |
Statement of Operations | Derivative | Total | ||||||
Net realized gain (loss) from futures contracts |
Equity Contracts | $ | 4,848 | |||||
Change in net unrealized appreciation or depreciation of futures contracts |
Equity Contracts | (611 | ) |
Liability | ||||||||
Statement of Assets and Liabilities | Derivatives | Total | ||||||
Unrealized appreciation of investments, futures contracts, and foreign currency |
Equity Contracts* | $ | 107 |
Statement of Operations | Derivative | Total | ||||||
Net realized gain (loss) from futures contracts |
Equity Contracts | $ | 670 | |||||
Change in net unrealized appreciation or depreciation of futures contracts |
Equity Contracts | (10 | ) |
Liability | ||||||||
Statement of Assets and Liabilities | Derivatives | Total | ||||||
Unrealized appreciation of investments, futures contracts, and foreign currency |
Equity Contracts* | $ | 194 |
32
Statement of Operations | Derivative | Total | ||||||
Net realized gain (loss) from futures contracts |
Equity Contracts | $ | 1,296 | |||||
Change in net unrealized appreciation or depreciation of futures contracts |
Equity Contracts | (223 | ) |
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedule of Investments footnotes. Only current days variation margin is reported within the Statements of Assets and Liabilities. |
33
Amounts paid | Net Amounts | |||||||||||||||
Management | Management | to Investment | Retained by | |||||||||||||
Fee Rate | Fee | Advisors | Manager | |||||||||||||
Balanced |
0.175%-0.65 | % | $ | 995 | $ | 774 | $ | 221 | ||||||||
Large Cap Growth |
0.30%-0.60 | % | 238 | 215 | 23 | |||||||||||
Mid-Cap Value |
0.35%-0.90 | % | 322 | 295 | 27 |
34
Expense Cap | ||||||||||||||||
11/1/10 | 3/1/11 | Waived or | ||||||||||||||
to | to | Reimbursed | ||||||||||||||
Fund | Class | 2/28/11 | 4/30/11 | Expenses | ||||||||||||
Large Cap Growth |
Y | * | N/A | N/A | $ | 1,651 | ||||||||||
Large Cap Growth |
A | * | N/A | N/A | 1,293 | |||||||||||
Large Cap Growth |
C | | 2.20 | % | 1,648 | |||||||||||
Mid-Cap Value |
Institutional | 0.98 | % | 0.98 | % | 13,227 | ||||||||||
Mid-Cap Value |
Y | 1.08 | % | 1.08 | % | 1,653 | ||||||||||
Mid-Cap Value |
Investor | 1.23 | % | 1.23 | % | 3,424 | ||||||||||
Mid-Cap Value |
Advisor | 1.49 | % | 1.49 | % | 215 | ||||||||||
Mid-Cap Value |
A | 1.49 | % | 1.49 | % | 1,677 | ||||||||||
Mid-Cap Value |
C | 2.24 | % | 2.24 | % | 1,647 |
* | Voluntary reimbursement. |
35
Balanced | Large Cap Growth | Mid-Cap Value | ||||||||||||||||||||||
Six Months Ended | Year Ended | Six Months Ended | Year Ended | Six Months Ended | Year Ended | |||||||||||||||||||
April 30, | October 31, | April 30, | October 31, | April 30, | October 31, | |||||||||||||||||||
2011 | 2010 | 2011 | 2010 | 2011 | 2010 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Distributions paid from: |
||||||||||||||||||||||||
Ordinary income* |
||||||||||||||||||||||||
Institutional Class |
$ | 457 | $ | 1,651 | $ | | $ | | $ | 30 | $ | 15 | ||||||||||||
Y Class |
5 | | | | | |||||||||||||||||||
Investor Class |
846 | 4,637 | | | 343 | 161 | ||||||||||||||||||
Advisor Class |
55 | 314 | | | 1 | | ||||||||||||||||||
AMR Class |
10,904 | 42,865 | 167 | 342 | 753 | 561 | ||||||||||||||||||
A Class |
2 | | | | | | ||||||||||||||||||
C Class |
2 | | | | | | ||||||||||||||||||
Total distributions paid |
$ | 12,271 | $ | 49,467 | $ | 167 | $ | 342 | $ | 1,127 | $ | 737 | ||||||||||||
* | For tax purposes, short-term capital gains are considered ordinary income distributions. |
Balanced | Large Cap Growth | Mid-Cap Value | ||||||||||
Cost basis of investments for federal
income tax purpose |
$ | 827,795 | $ | 71,218 | $ | 99,641 | ||||||
Unrealized appreciation |
120,057 | 25,128 | 23,830 | |||||||||
Unrealized depreciation |
(58,409 | ) | (660 | ) | (1,282 | ) | ||||||
Net unrealized appreciation (depreciation) |
61,652 | 24,468 | 22,548 | |||||||||
Undistributed ordinary income |
(333 | ) | (5 | ) | 290 | |||||||
Undistributed long-term gain (loss) |
(32,888 | ) | (17,592 | ) | (13,652 | ) | ||||||
Other temporary differences |
807 | 107 | 193 | |||||||||
Distributable earnings (losses) |
$ | 29,238 | $ | 6,978 | $ | 9,379 | ||||||
36
Balanced | Large Cap Growth | Mid-Cap Value | ||||||||||
Paid-in-capital |
$ | | $ | | $ | | ||||||
Undistributed net investment income |
254 | | | |||||||||
Accumulated net realized gain (loss) |
(255 | ) | | | ||||||||
Unrealized appreciation (depreciation) of investments, futures contracts and foreign currency |
1 | | |
Fund | 2016 | 2017 | Total | |||||||||
Balanced |
$ | 7,659 | $ | 24,427 | $ | 32,086 | ||||||
Large Cap Growth |
4,622 | 12,863 | 17,485 | |||||||||
Mid-Cap Value |
5,062 | 8,397 | 13,459 |
Balanced | Large Cap Growth | Mid-Cap Value | ||||||||||
Purchases (excluding U.S. government securities) |
$ | 204,427 | $ | 28,796 | $ | 21,090 | ||||||
Sales and maturities (excluding U.S. government securities) |
245,775 | 39,320 | 20,024 | |||||||||
Purchases of U.S. government securities |
60,115 | | | |||||||||
Sales and maturities of U.S. government securities |
58,950 | | |
October 31, 2010 | April 30, 2011 | |||||||||||||||||||
Affiliate | Shares/Market Value | Purchases | Sales | Shares/Market Value | ||||||||||||||||
Balanced |
USG Select Fund | $ | 2,900 | $ | | $ | 2,900 | $ | |
37
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
Balanced Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
419 | $ | 5,573 | 26 | $ | 348 | 823 | $ | 9,996 | 43 | $ | 549 | ||||||||||||||||||||
Reinvestment of dividends |
34 | 451 | 1 | 5 | 66 | 815 | 4 | 55 | ||||||||||||||||||||||||
Shares redeemed |
(546 | ) | (7,228 | ) | | (1 | ) | (1,089 | ) | (13,297 | ) | (113 | ) | (1,455 | ) | |||||||||||||||||
Net increase (decrease)
in shares outstanding |
(93 | ) | $ | (1,204 | ) | 27 | $ | 352 | (200 | ) | $ | (2,486 | ) | (66 | ) | $ | (851 | ) | ||||||||||||||
AMR Class | A Class | C Class | ||||||||||||||||||||||
Balanced Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
1,063 | $ | 13,402 | 23 | $ | 282 | 15 | $ | 186 | |||||||||||||||
Reinvestment of dividends |
859 | 10,904 | | 2 | | 1 | ||||||||||||||||||
Shares redeemed |
(5,349 | ) | (67,590 | ) | (1 | ) | (5 | ) | | (1 | ) | |||||||||||||
Net increase (decrease)
in shares outstanding |
(3,427 | ) | $ | (43,284 | ) | 22 | $ | 279 | 15 | $ | 186 | |||||||||||||
Institutional Class | Y Class | AMR Class | ||||||||||||||||||||||
Large Cap Growth Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
23 | $ | 148 | 1 | $ | 5 | 1,903 | $ | 12,264 | |||||||||||||||
Reinvestment of dividends |
| | | | 26 | 167 | ||||||||||||||||||
Shares redeemed |
(11 | ) | (70 | ) | (1 | ) | (5 | ) | (4,662 | ) | (28,658 | ) | ||||||||||||
Net increase (decrease)
in shares outstanding |
12 | $ | 78 | | $ | | (2,733 | ) | $ | (16,227 | ) | |||||||||||||
A Class | C Class | |||||||||||||||
Large Cap Growth Fund | Shares | Amount | Shares | Amount | ||||||||||||
Shares sold |
78 | $ | 500 | | $ | | ||||||||||
Reinvestment of dividends |
| | | | ||||||||||||
Shares redeemed |
(6 | ) | (41 | ) | | | ||||||||||
Net increase (decrease)
in shares outstanding |
72 | $ | 459 | | $ | | ||||||||||
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
Mid-Cap Value Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
| $ | 40,486 | | $ | 12 | | $ | 7,644 | | $ | 1 | ||||||||||||||||||||
Reinvestment of dividends |
| 30 | | | | 343 | | 1 | ||||||||||||||||||||||||
Shares redeemed |
| (3,653 | )* | | | * | | (38,766 | )* | | (23 | )* | ||||||||||||||||||||
Net increase (decrease)
in shares outstanding |
| $ | 36,863 | | $ | 12 | | $ | (30,779 | ) | | $ | (21 | ) | ||||||||||||||||||
AMR Class | A Class | C Class | ||||||||||||||||||||||
Mid-Cap Value Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
| $ | 6,674 | | $ | 100 | | $ | | |||||||||||||||
Reinvestment of dividends |
| 753 | | | | | ||||||||||||||||||
Shares redeemed |
| (12,983 | )* | | (1 | )* | | | * | |||||||||||||||
Net increase (decrease)
in shares outstanding |
| $ | (5,556 | ) | | $ | 99 | | $ | | ||||||||||||||
* | Net of Redemption Fees |
38
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
Balanced Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
938 | $ | 11,665 | 4 | $ | 46 | 2,259 | $ | 25,989 | 97 | $ | 1,140 | ||||||||||||||||||||
Reinvestment of dividends |
133 | 1,630 | | 1 | 402 | 4,540 | 27 | 314 | ||||||||||||||||||||||||
Shares redeemed |
(944 | ) | (11,665 | ) | | | (4,078 | ) | (46,277 | ) | (218 | ) | (2,568 | ) | ||||||||||||||||||
Net increase (decrease)
in shares outstanding |
127 | $ | 1,630 | 4 | $ | 47 | (1,417 | ) | $ | (15,748 | ) | (94 | ) | $ | (1,114 | ) | ||||||||||||||||
AMR Class | A Class | C Class | ||||||||||||||||||||||
Balanced Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
3,103 | $ | 36,517 | 4 | $ | 46 | | $ | 1 | |||||||||||||||
Reinvestment of dividends |
3,684 | 42,865 | | | | | ||||||||||||||||||
Shares redeemed |
(4,724 | ) | (55,318 | ) | | | | | ||||||||||||||||
Net increase (decrease)
in shares outstanding |
2,063 | $ | 24,064 | 4 | $ | 46 | | $ | 1 | |||||||||||||||
Institutional Class | Y Class | AMR Class | ||||||||||||||||||||||
Large Cap Growth Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
7 | $ | 38 | 4 | $ | 20 | 8,548 | $ | 46,823 | |||||||||||||||
Reinvestment of dividends |
| | | | 63 | 342 | ||||||||||||||||||
Shares redeemed |
(12 | ) | (66 | ) | | | (6,328 | ) | (34,145 | ) | ||||||||||||||
Net increase (decrease)
in shares outstanding |
(5 | ) | $ | (28 | ) | 4 | $ | 20 | 2,283 | $ | 13,020 | |||||||||||||
A Class | C Class | |||||||||||||||
Large Cap Growth Fund | Shares | Amount | Shares | Amount | ||||||||||||
Shares sold |
1 | $ | 6 | | $ | 1 | ||||||||||
Reinvestment of dividends |
| | | | ||||||||||||
Shares redeemed |
| | | | ||||||||||||
Net increase (decrease)
in shares outstanding |
1 | $ | 6 | | $ | 1 | ||||||||||
Institutional Class | Y Class | Investor Class | Advisor Class | |||||||||||||||||||||||||||||
Mid-Cap Value Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
59 | $ | 506 | | $ | 1 | 1,672 | $ | 14,465 | 8 | $ | 64 | ||||||||||||||||||||
Reinvestment of dividends |
2 | 14 | | | 20 | 161 | | | ||||||||||||||||||||||||
Shares redeemed |
(51 | ) | (440 | )* | | | * | (963 | ) | (8,239 | )* | | | * | ||||||||||||||||||
Net increase (decrease)
in shares outstanding |
10 | $ | 80 | | $ | 1 | 729 | $ | 6,387 | 8 | $ | 64 | ||||||||||||||||||||
AMR Class | A Class | C Class | ||||||||||||||||||||||
Mid-Cap Value Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
3,214 | $ | 27,770 | 2 | $ | 17 | | $ | 1 | |||||||||||||||
Reinvestment of dividends |
68 | 561 | | | | | ||||||||||||||||||
Shares redeemed |
(3,444 | ) | (29,426 | )* | | | * | | | * | ||||||||||||||
Net increase (decrease)
in shares outstanding |
(162 | ) | $ | (1,095 | ) | 2 | $ | 17 | | $ | 1 | |||||||||||||
* | Net of Redemption Fees |
39
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||||||||||||||||||
Six | Six | Six | Year | |||||||||||||||||||||||||||||||||||||
Months | Months | March 01 | Months | Ended | ||||||||||||||||||||||||||||||||||||
Ended | Ended | to | Ended | October | ||||||||||||||||||||||||||||||||||||
April 30, | Year Ended October 31, | April 30, | October | April 30, | 31, | |||||||||||||||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2011 | 31, 2010 | 2011 | 2010 | |||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 12.62 | $ | 11.83 | $ | 10.63 | $ | 16.09 | $ | 15.83 | $ | 15.00 | $ | 12.78 | $ | 12.20 | $ | 11.66 | $ | 10.96 | ||||||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||||||||||
Net investment income |
0.16 | 0.35 | 0.43 | 0.47 | 0.50 | 0.39 | 0.20 | 0.16 | 0.12 | 0.25 | ||||||||||||||||||||||||||||||
Net gains (losses) on securities (both
realized and unrealized) |
1.05 | 1.10 | 1.25 | (4.70 | ) | 0.90 | 1.54 | 1.00 | 0.57 | 0.98 | 1.04 | |||||||||||||||||||||||||||||
Total income (loss) from investment operations |
1.21 | 1.45 | 1.68 | (4.23 | ) | 1.40 | 1.93 | 1.20 | 0.73 | 1.10 | 1.29 | |||||||||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.17 | ) | (0.66 | ) | (0.48 | ) | (0.44 | ) | (0.42 | ) | (0.38 | ) | (0.29 | ) | (0.15 | ) | (0.12 | ) | (0.59 | ) | ||||||||||||||||||||
Distributions from net realized gains on
securities |
| | | (0.79 | ) | (0.72 | ) | (0.72 | ) | | | | | |||||||||||||||||||||||||||
Total distributions |
(0.17 | ) | (0.66 | ) | (0.48 | ) | (1.23 | ) | (1.14 | ) | (1.10 | ) | (0.29 | ) | (0.15 | ) | (0.12 | ) | (0.59 | ) | ||||||||||||||||||||
Net asset value, end of period |
$ | 13.66 | $ | 12.62 | $ | 11.83 | $ | 10.63 | $ | 16.09 | $ | 15.83 | $ | 13.69 | $ | 12.78 | $ | 12.64 | $ | 11.66 | ||||||||||||||||||||
Total returnA |
9.65 | %B | 12.47 | % | 16.64 | % | (28.23 | )% | 9.31 | % | 13.60 | % | 9.50 | %B | 5.99 | %B | 9.46 | %B | 12.06 | % | ||||||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 34,878 | $ | 33,405 | $ | 29,808 | $ | 36,557 | $ | 51,399 | $ | 22,587 | $ | 413 | $ | 46 | $ | 89,043 | $ | 84,500 | ||||||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||||||||||
Expenses, net of waivers |
0.58 | % | 0.58 | % | 0.60 | % | 0.56 | % | 0.57 | % | 0.59 | % | 0.68 | % | 0.68 | %C | 0.91 | % | 0.93 | % | ||||||||||||||||||||
Expenses, before waivers |
0.58 | % | 0.58 | % | 0.60 | % | 0.56 | % | 0.57 | % | 0.59 | % | 0.68 | % | 0.68 | %C | 0.91 | % | 0.93 | % | ||||||||||||||||||||
Net investment income, net of waivers |
2.42 | % | 2.67 | % | 3.60 | % | 3.37 | % | 2.91 | % | 2.81 | % | 2.17 | % | 2.54 | %C | 2.09 | % | 2.34 | % | ||||||||||||||||||||
Net investment income, before waivers |
2.42 | % | 2.67 | % | 3.60 | % | 3.37 | % | 2.91 | % | 2.81 | % | 2.17 | % | 2.54 | %C | 2.09 | % | 2.34 | % | ||||||||||||||||||||
Portfolio turnover rate |
24 | %B | 40 | % | 57 | % | 53 | % | 50 | % | 59 | % | 24 | %B | 40 | %D | 24 | %B | 40 | % |
A | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
B | Not annualized. | |
C | Annualized. | |
D | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. |
40
Advisor Class | |||||||||||||||||||||||||||||||||||||||
Six Months Ended April 30, |
Year Ended October 31, | ||||||||||||||||||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||||||||||||
$ | 9.91 | $ | 15.09 | $ | 14.91 | $ | 14.20 | $ | 12.11 | $ | 11.35 | $ | 9.77 | $ | 14.95 | $ | 14.83 | $ | 14.16 | ||||||||||||||||||||
0.30 | 0.41 | 0.41 | 0.35 | 0.16 | 0.32 | 0.37 | 0.34 | 0.41 | 0.38 | ||||||||||||||||||||||||||||||
1.23 | (4.39 | ) | 0.87 | 1.44 | 0.97 | 1.01 | 1.21 | (4.31 | ) | 0.83 | 1.35 | ||||||||||||||||||||||||||||
1.53 | (3.98 | ) | 1.28 | 1.79 | 1.13 | 1.33 | 1.58 | (3.97 | ) | 1.24 | 1.73 | ||||||||||||||||||||||||||||
(0.48 | ) | (0.41 | ) | (0.38 | ) | (0.36 | ) | (0.13 | ) | (0.57 | ) | | (0.42 | ) | (0.40 | ) | (0.34 | ) | |||||||||||||||||||||
| (0.79 | ) | (0.72 | ) | (0.72 | ) | | | | (0.79 | ) | (0.72 | ) | (0.72 | ) | ||||||||||||||||||||||||
(0.48 | ) | (1.20 | ) | (1.10 | ) | (1.08 | ) | (0.13 | ) | (0.57 | ) | (1.21 | ) | (1.12 | ) | (1.06 | ) | ||||||||||||||||||||||
$ | 10.96 | $ | 9.91 | $ | 15.09 | $ | 14.91 | $ | 13.11 | $ | 12.11 | $ | 11.35 | $ | 9.77 | $ | 14.95 | $ | 14.83 | ||||||||||||||||||||
16.29 | % | (28.39 | )% | 9.06 | % | 13.31 | % | 9.32 | %B | 11.96 | % | 16.17 | % | (28.65 | )% | 8.83 | % | 12.94 | % | ||||||||||||||||||||
$ | 94,915 | $ | 105,473 | $ | 202,750 | $ | 111,837 | $ | 5,764 | $ | 6,127 | $ | 6,812 | $ | 7,674 | $ | 9,504 | $1,562 | |||||||||||||||||||||
0.89 | % | 0.82 | % | 0.83 | % | 0.85 | % | 1.08 | % | 1.09 | % | 1.09 | % | 1.07 | % | 1.07 | % | 1.22 | % | ||||||||||||||||||||
0.89 | % | 0.82 | % | 0.83 | % | 0.85 | % | 1.08 | % | 1.09 | % | 1.09 | % | 1.07 | % | 1.07 | % | 1.22 | % | ||||||||||||||||||||
3.26 | % | 3.12 | % | 2.65 | % | 2.55 | % | 1.94 | % | 2.18 | % | 3.06 | % | 2.86 | % | 2.34 | % | 2.18 | % | ||||||||||||||||||||
3.26 | % | 3.12 | % | 2.65 | % | 2.55 | % | 1.94 | % | 2.18 | % | 3.06 | % | 2.86 | % | 2.34 | % | 2.17 | % | ||||||||||||||||||||
57 | % | 53 | % | 50 | % | 59 | % | 24 | %B | 40 | % | 57 | % | 53 | % | 50 | % | 59 | % |
41
AMR Class | ||||||||||||||||||||||||||||||||||||||||
Year Ended October 31, | A Class | C Class | ||||||||||||||||||||||||||||||||||||||
Six Months Ended April 30, 2011 |
2010 | 2009 | 2008 | 2007 | 2006 | Six Months Ended April 30, 2011 |
May 17 to October 31, 2010 |
Six Months Ended April 30, 2011 |
September 01 to October 31, 2010 |
|||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 12.02 | $ | 11.31 | $ | 10.19 | $ | 15.49 | $ | 15.27 | $ | 14.49 | $ | 11.94 | $ | 11.50 | $ | 11.92 | $ | 11.32 | ||||||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||||||||||
Net investment income |
0.16 | 0.35 | 0.39 | 0.49 | 0.50 | 0.45 | 0.25 | 0.02 | 0.09 | 0.01 | ||||||||||||||||||||||||||||||
Net gains (losses) on
securities (both realized and
unrealized) |
1.01 | 1.07 | 1.24 | (4.52 | ) | 0.89 | 1.46 | 0.86 | 0.43 | 0.96 | 0.59 | |||||||||||||||||||||||||||||
Total income (loss) from
investment operations |
1.17 | 1.42 | 1.63 | (4.03 | ) | 1.39 | 1.91 | 1.11 | 0.45 | 1.05 | 0.60 | |||||||||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||||||||||
Dividends from net investment
income |
(0.19 | ) | (0.71 | ) | (0.51 | ) | (0.48 | ) | (0.45 | ) | (0.41 | ) | (0.29 | ) | (0.01 | ) | (0.15 | ) | 0.00 | |||||||||||||||||||||
Distributions from net
realized gains on securities |
| | | (0.79 | ) | (0.72 | ) | (0.72 | ) | | | | | |||||||||||||||||||||||||||
Total distributions |
(0.19 | ) | (0.71 | ) | (0.51 | ) | (1.27 | ) | (1.17 | ) | (1.13 | ) | (0.29 | ) | (0.01 | ) | (0.15 | ) | 0.00 | |||||||||||||||||||||
Net asset value, end of period |
$ | 13.00 | $ | 12.02 | $ | 11.31 | $ | 10.19 | $ | 15.49 | $ | 15.27 | $ | 12.76 | $ | 11.94 | $ | 12.82 | $ | 11.92 | ||||||||||||||||||||
Total return A |
9.74 | %B | 12.84 | % | 16.95 | % | (28.08 | )% | 9.59 | % | 13.98 | % | 9.39 | %B | 3.90 | %B | 8.98 | %B | 5.33 | %B | ||||||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (in
thousands) |
$ | 764,930 | $ | 748,422 | $ | 681,197 | $ | 604,209 | $ | 898,584 | $ | 817,333 | $ | 336 | $ | 47 | $ | 196 | $ | 1 | ||||||||||||||||||||
Ratios to average net assets
(annualized): |
||||||||||||||||||||||||||||||||||||||||
Expenses, net of waivers |
0.33 | % | 0.33 | % | 0.35 | % | 0.31 | % | 0.31 | % | 0.33 | % | 1.07 | % | 1.08 | %C | 1.83 | % | 1.86 | %C | ||||||||||||||||||||
Expenses, before waivers |
0.33 | % | 0.33 | % | 0.35 | % | 0.31 | % | 0.31 | % | 0.33 | % | 1.07 | % | 1.08 | %C | 1.83 | % | 2.14 | %C | ||||||||||||||||||||
Net investment income, net of
waivers |
2.68 | % | 2.92 | % | 3.75 | % | 3.62 | % | 3.21 | % | 3.08 | % | 1.76 | % | 1.51 | %C | 0.98 | % | 0.48 | %C | ||||||||||||||||||||
Net investment income, before
waivers |
2.68 | % | 2.92 | % | 3.75 | % | 3.62 | % | 3.21 | % | 3.08 | % | 1.76 | % | 1.51 | %C | 0.98 | % | 0.20 | %C | ||||||||||||||||||||
Portfolio turnover rate |
24 | %B | 40 | % | 57 | % | 53 | % | 50 | % | 59 | % | 24 | %B | 40 | %D | 24 | %B | 40 | %D |
A | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
B | Not annualized. | |
C | Annualized. | |
D | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. |
42
43
Institutional Class | ||||||||||||||||||||||||
Six | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
April 30, | Year Ended October 31, | |||||||||||||||||||||||
2011 | 2010 | 2009A | 2008 | 2007 | 2006B | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 5.84 | $ | 4.97 | $ | 4.49 | $ | 7.67 | $ | 6.89 | $ | 6.18 | ||||||||||||
Income from investment operations: |
||||||||||||||||||||||||
Net investment income (loss) |
0.01 | 0.00 | 0.03 | 0.05 | 0.04 | 0.04 | ||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
1.05 | 0.88 | 0.50 | (2.97 | ) | 0.77 | 0.70 | |||||||||||||||||
Total income (loss) from investment operations |
1.06 | 0.88 | 0.53 | (2.92 | ) | 0.81 | 0.74 | |||||||||||||||||
Less distributions: |
||||||||||||||||||||||||
Dividends from net investment income |
(0.01 | ) | (0.01 | ) | (0.05 | ) | (0.04 | ) | (0.03 | ) | (0.03 | ) | ||||||||||||
Distributions from net realized gains on securities |
| | | (0.22 | ) | | | |||||||||||||||||
Total distributions |
(0.01 | ) | (0.01 | ) | (0.05 | ) | (0.26 | ) | (0.03 | ) | (0.03 | ) | ||||||||||||
Net asset value, end of period |
$ | 6.89 | $ | 5.84 | $ | 4.97 | $ | 4.49 | $ | 7.67 | $ | 6.89 | ||||||||||||
Total return C |
18.12 | %D | 17.70 | % | 12.09 | % | (39.35 | )% | 11.84 | % | 12.04 | % | ||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 231 | $ | 125 | $ | 130 | $ | 83 | $ | 119 | $ | 110 | ||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||
Expenses, net of waivers |
0.95 | % | 0.94 | % | 0.93 | % | 0.89 | % | 0.90 | % | 0.90 | % | ||||||||||||
Expenses, before waivers |
0.95 | % | 0.94 | % | 0.94 | % | 0.95 | % | 1.06 | % | 0.99 | % | ||||||||||||
Net investment income (loss), net of waivers |
(0.09 | )% | (0.02 | )% | 0.38 | % | 0.74 | % | 0.58 | % | 0.56 | % | ||||||||||||
Net investment income (loss), before waivers |
(0.09 | )% | (0.02 | )% | 0.36 | % | 0.68 | % | 0.42 | % | 0.48 | % | ||||||||||||
Portfolio turnover rate |
33 | %D | 92 | % | 147 | % | 112 | % | 128 | % | 181 | % |
A | On March 17, 2009, Winslow Capital Management, Inc. assumed management of the Large Cap Growth Funds assets previously managed by Goldman Sachs Asset Management, L.P. | |
B | On September 12, 2006, The Renaissance Group, LLC assumed management of the Large Cap Growth Funds assets previously managed by J.P. Morgan Investment Management, Inc. | |
C | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
D | Not annualized. | |
E | Annualized. | |
F | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. |
44
Y Class | AMR Class | A Class | C Class | |||||||||||||||||||||||||||||||||||||||||||
Six | Six | Six | Six | |||||||||||||||||||||||||||||||||||||||||||
Months | March | Months | Months | May | Months | September | ||||||||||||||||||||||||||||||||||||||||
Ended | 01 to | Ended | Ended | 17 to | Ended | 01 to | ||||||||||||||||||||||||||||||||||||||||
April 30, | October 31, | April 30, | Year Ended October 31, | April 30, | October 31, | April 30, | October 31, | |||||||||||||||||||||||||||||||||||||||
2011 | 2010 | 2011 | 2010 | 2009A | 2008 | 2007 | 2006B | 2011 | 2010 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||||||||||||||||||||||||||||||||
$ | 5.83 | $ | 5.41 | $ | 5.88 | $ | 5.00 | $ | 4.52 | $ | 7.72 | $ | 6.95 | $ | 6.21 | $ | 5.83 | $ | 5.40 | $ | 5.83 | $ | 5.17 | |||||||||||||||||||||||
(0.01 | ) | 0.00 | 0.01 | 0.01 | 0.04 | 0.07 | 0.06 | 0.05 | (0.01 | ) | (0.01 | ) | (0.04 | ) | (0.02 | ) | ||||||||||||||||||||||||||||||
1.07 | 0.42 | 1.06 | 0.89 | 0.51 | (2.99 | ) | 0.77 | 0.73 | 1.04 | 0.44 | 1.06 | 0.68 | ||||||||||||||||||||||||||||||||||
1.06 | 0.42 | 1.07 | 0.90 | 0.55 | (2.92 | ) | 0.83 | 0.78 | 1.03 | 0.43 | 1.02 | 0.66 | ||||||||||||||||||||||||||||||||||
(0.01 | ) | | (0.01 | ) | (0.02 | ) | (0.07 | ) | (0.06 | ) | (0.06 | ) | (0.04 | ) | | | | | ||||||||||||||||||||||||||||
| | | | | (0.22 | ) | | | | | | | ||||||||||||||||||||||||||||||||||
(0.01 | ) | | (0.01 | ) | (0.02 | ) | (0.07 | ) | (0.28 | ) | (0.06 | ) | (0.04 | ) | | | | | ||||||||||||||||||||||||||||
$ | 6.88 | $ | 5.83 | $ | 6.94 | $ | 5.88 | $ | 5.00 | $ | 4.52 | $ | 7.72 | $ | 6.95 | $ | 6.86 | $ | 5.83 | $ | 6.85 | $ | 5.83 | |||||||||||||||||||||||
18.14 | %D | 7.76 | %D | 18.25 | %D | 18.11 | % | 12.46 | % | (39.17 | )% | 12.07 | % | 12.52 | % | 17.67 | %D | 7.96 | %D | 17.53 | %D | 12.77 | %D | |||||||||||||||||||||||
$ | 26 | $ | 22 | $ | 95,574 | $ | 96,978 | $ | 71,154 | $ | 56,976 | $ | 101,698 | $ | 82,042 | $ | 501 | $ | 7 | $ | 2 | $ | 1 | |||||||||||||||||||||||
1.05 | % | 1.06 | %E | 0.70 | % | 0.69 | % | 0.63 | % | 0.59 | % | 0.60 | % | 0.59 | % | 1.45 | % | 1.49 | %E | 2.06 | % | 2.20 | %E | |||||||||||||||||||||||
14.83 | % | 1.06 | %E | 0.70 | % | 0.69 | % | 0.63 | % | 0.59 | % | 0.60 | % | 0.59 | % | 2.34 | % | 1.49 | %E | 271.68 | % | 3.14 | %E | |||||||||||||||||||||||
(0.15 | )% | (0.33 | )%E | 0.20 | % | 0.19 | % | 0.86 | % | 1.05 | % | 0.85 | % | 0.88 | % | (0.75 | )% | (0.90 | )%E | (1.14 | )% | (1.68 | )%E | |||||||||||||||||||||||
(13.94 | )% | (0.33 | )%E | 0.20 | % | 0.19 | % | 0.86 | % | 1.05 | % | 0.85 | % | 0.88 | % | (1.64 | )% | (0.90 | )%E | (270.75 | )% | (2.62 | )%E | |||||||||||||||||||||||
33 | %D | 92 | %F | 33 | %D | 92 | % | 147 | % | 112 | % | 128 | % | 181 | % | 33 | %D | 92 | %F | 33 | %D | 92 | %F |
45
Institutional Class | Y Class | |||||||||||||||||||||||||||||||
Six | Six | |||||||||||||||||||||||||||||||
Months | November | Months | March | |||||||||||||||||||||||||||||
Ended | 30 to | Ended | 01 to | |||||||||||||||||||||||||||||
April 30, | Year Ended October 31, | October | April 30, | October | ||||||||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 31, 2006 | 2011 | 31, 2010 | |||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 9.27 | $ | 7.57 | $ | 5.94 | $ | 11.01 | $ | 10.81 | $ | 12.09 | $ | 9.27 | $ | 8.48 | ||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
0.02 | 0.08 | 0.10 | 0.16 | 0.12 | 0.21 | 0.06 | 0.06 | ||||||||||||||||||||||||
Net gains (losses) on securities (both realized and
unrealized) |
1.74 | 1.67 | 1.65 | (4.31 | ) | 0.41 | 1.25 | 1.70 | 0.73 | |||||||||||||||||||||||
Total income (loss) from investment operations |
1.76 | 1.75 | 1.75 | (4.15 | ) | 0.53 | 1.46 | 1.76 | 0.79 | |||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.11 | ) | (0.05 | ) | (0.12 | ) | (0.16 | ) | (0.07 | ) | (0.16 | ) | (0.11 | ) | | |||||||||||||||||
Distributions from net realized gains on securities |
| | | (0.76 | ) | (0.26 | ) | (2.58 | ) | | | |||||||||||||||||||||
Total distributions |
(0.11 | ) | (0.05 | ) | (0.12 | ) | (0.92 | ) | (0.33 | ) | (2.74 | ) | (0.11 | ) | | |||||||||||||||||
Redemption fees added to beneficial interestsA |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | 0.00 | ||||||||||||||||||||||||
Net asset value, end of period |
$ | 10.92 | $ | 9.27 | $ | 7.57 | $ | 5.94 | $ | 11.01 | $ | 10.81 | $ | 10.92 | $ | 9.27 | ||||||||||||||||
Total return B,C |
19.05 | %D | 23.19 | % | 30.24 | % | (40.86 | )% | 4.97 | % | 15.19 | %D | 19.06 | %D | 9.32 | %D | ||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 43,743 | $ | 2,778 | $ | 2,197 | $ | 2,256 | $ | 6,047 | $ | 3,396 | $ | 14 | $ | 1 | ||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||
Expenses, net of waivers |
0.98 | % | 0.98 | % | 0.98 | % | 0.98 | % | 0.92 | % | 1.19 | %E | 1.01 | % | 1.01 | %E | ||||||||||||||||
Expenses, before waivers |
1.07 | % | 1.06 | % | 1.13 | % | 1.16 | % | 1.09 | % | 1.19 | %E | 79.75 | % | 1.05 | %E | ||||||||||||||||
Net investment income, net of waivers |
0.83 | % | 0.99 | % | 1.29 | % | 1.51 | % | 1.22 | % | 1.11 | %E | 0.80 | % | 0.97 | %E | ||||||||||||||||
Net investment income (loss), before waivers |
0.74 | % | 0.90 | % | 1.14 | % | 1.33 | % | 1.05 | % | 1.11 | %E | (77.94 | )% | 0.93 | %E | ||||||||||||||||
Portfolio turnover rate |
19 | %D | 40 | % | 42 | % | 28 | % | 35 | % | 42 | %F | 19 | %D | 40 | %G |
A | Amounts represent less than $0.01 per share. | |
B | May include adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. | |
C | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
D | Not annualized. | |
E | Annualized. | |
F | Portfolio turnover rate is for the period from November 1, 2005 through October 31, 2006. | |
G | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. | |
H | Portfolio turnover rate is for the period from November 1, 2006 through October 31, 2007. | |
I | On November 30, 2005, the Mid-Cap Value Funds Institutional Class of shares was renamed the AMR Class and the Fund began offering a new class of shares known as the Institutional Class. |
46
Investor Class | Advisor Class | |||||||||||||||||||||||||||||||||||||||||
Six | Six | |||||||||||||||||||||||||||||||||||||||||
Months | February | Months | June | |||||||||||||||||||||||||||||||||||||||
Ended | 28 to | Ended | 29 to | |||||||||||||||||||||||||||||||||||||||
April 30, | Year Ended October 31, | October | April 30, | Year Ended October 31, | October | |||||||||||||||||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 31, 2006 | 2011 | 2010 | 2009 | 2008 | 31, 2007 | ||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||||||||||||
$ |
9.20 | $ | 7.54 | $ | 5.92 | $ | 10.96 | $ | 10.80 | $ | 9.80 | $ | 9.12 | $ | 7.49 | $ | 5.87 | $ | 10.94 | $ | 11.73 | |||||||||||||||||||||
(0.10 | ) | 0.06 | 0.07 | 0.14 | 0.10 | 0.01 | 0.03 | 0.07 | 0.15 | 0.10 | 0.01 | |||||||||||||||||||||||||||||||
1.90 | 1.65 | 1.66 | (4.31 | ) | 0.40 | 0.99 | 1.68 | 1.61 | 1.60 | (4.27 | ) | (0.80 | ) | |||||||||||||||||||||||||||||
1.80 | 1.71 | 1.73 | (4.17 | ) | 0.50 | 1.00 | 1.71 | 1.68 | 1.75 | (4.17 | ) | (0.79 | ) | |||||||||||||||||||||||||||||
(0.09 | ) | (0.05 | ) | (0.11 | ) | (0.11 | ) | (0.08 | ) | | (0.08 | ) | (0.05 | ) | (0.13 | ) | (0.14 | ) | | |||||||||||||||||||||||
| | | (0.76 | ) | (0.26 | ) | | | | | (0.76 | ) | | |||||||||||||||||||||||||||||
(0.09 | ) | (0.05 | ) | (0.11 | ) | (0.87 | ) | (0.34 | ) | | (0.08 | ) | (0.05 | ) | (0.13 | ) | (0.90 | ) | | |||||||||||||||||||||||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||||||||||||||
$ |
10.91 | $ | 9.20 | $ | 7.54 | $ | 5.92 | $ | 10.96 | $ | 10.80 | $ | 10.75 | $ | 9.12 | $ | 7.49 | $ | 5.87 | $ | 10.94 | |||||||||||||||||||||
19.65 | %D | 22.93 | % | 29.93 | % | (41.04 | )% | 4.68 | % | 10.20 | %D | 18.80 | %D | 22.37 | % | 30.64 | % | (41.28 | )% | (6.73 | )%D | |||||||||||||||||||||
$ |
7,405 | $ | 35,223 | $ | 23,369 | $ | 16,550 | $ | 43,158 | $ | 27,240 | $ | 69 | $ | 78 | $ | 7 | $ | 1 | $ | 1 | |||||||||||||||||||||
1.22 | % | 1.23 | % | 1.23 | % | 1.23 | % | 1.23 | % | 1.49 | %E | 1.49 | % | 1.44 | % | 1.50 | % | 1.50 | % | 1.50 | %E | |||||||||||||||||||||
1.27 | % | 1.27 | % | 1.34 | % | 1.32 | % | 1.26 | % | 1.61 | %E | 2.08 | % | 1.55 | % | 1.58 | % | 2.04 | % | 1.80 | %E | |||||||||||||||||||||
1.61 | % | 0.75 | % | 0.98 | % | 1.27 | % | 0.93 | % | 0.57 | %E | 0.69 | % | 0.47 | % | 0.22 | % | 1.02 | % | 0.32 | %E | |||||||||||||||||||||
1.56 | % | 0.70 | % | 0.87 | % | 1.18 | % | 0.90 | % | 0.44 | %E | 0.10 | % | 0.36 | % | 0.14 | % | 0.48 | % | 0.02 | %E | |||||||||||||||||||||
19 | %D | 40 | % | 42 | % | 28 | % | 35 | % | 42 | %F | 19 | %D | 40 | % | 42 | % | 28 | % | 35 | %H |
47
AMR Class (formerly Institutional Class prior to December 1, 2005)I | A Class | |||||||||||||||||||||||||||||||
Six | Six | |||||||||||||||||||||||||||||||
Months | Months | May | ||||||||||||||||||||||||||||||
Ended | Ended | 17 to | ||||||||||||||||||||||||||||||
April 30, | Year Ended October 31, | April 30, | October | |||||||||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2011 | 31, 2010 | |||||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 9.27 | $ | 7.59 | $ | 5.97 | $ | 11.07 | $ | 10.87 | $ | 11.72 | $ | 9.18 | $ | 9.00 | ||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||
Net investment income (loss) |
0.08 | 0.10 | 0.07 | 0.18 | 0.18 | 0.12 | 0.07 | 0.01 | ||||||||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
1.69 | 1.66 | 1.70 | (4.35 | ) | 0.36 | 1.75 | 1.65 | 0.17 | |||||||||||||||||||||||
Total income (loss) from investment operations |
1.77 | 1.76 | 1.77 | (4.17 | ) | 0.54 | 1.87 | 1.72 | 0.18 | |||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.12 | ) | (0.08 | ) | (0.15 | ) | (0.17 | ) | (0.08 | ) | (0.14 | ) | (0.08 | ) | | |||||||||||||||||
Distributions from net realized gains on securities |
| | | (0.76 | ) | (0.26 | ) | (2.58 | ) | | | |||||||||||||||||||||
Total distributions |
(0.12 | ) | (0.08 | ) | (0.15 | ) | (0.93 | ) | (0.34 | ) | (2.72 | ) | (0.08 | ) | | |||||||||||||||||
Redemption fees added to beneficial interestsA |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | 0.00 | ||||||||||||||||||||||||
Net asset value, end of period |
$ | 10.92 | $ | 9.27 | $ | 7.59 | $ | 5.97 | $ | 11.07 | $ | 10.87 | $ | 10.82 | $ | 9.18 | ||||||||||||||||
Total return B,C |
19.19 | %D | 23.28 | % | 30.56 | % | (40.82 | )% | 5.09 | % | 19.16 | % | 18.77 | %D | 2.00 | %D | ||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 69,199 | $ | 64,012 | $ | 53,604 | $ | 34,253 | $ | 78,794 | $ | 66,290 | $ | 126 | $ | 18 | ||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||
Expenses, net of waivers |
0.78 | % | 0.77 | % | 0.83 | % | 0.82 | % | 0.75 | % | 0.97 | % | 1.45 | % | 1.48 | %E | ||||||||||||||||
Expenses, before waivers |
0.78 | % | 0.77 | % | 0.82 | % | 0.82 | % | 0.75 | % | 0.92 | % | 6.41 | % | 1.51 | %E | ||||||||||||||||
Net investment income (loss), net of waivers |
1.39 | % | 1.19 | % | 1.38 | % | 1.68 | % | 1.41 | % | 1.38 | % | 0.51 | % | 0.47 | %E | ||||||||||||||||
Net investment income (loss), before waivers |
1.39 | % | 1.19 | % | 1.38 | % | 1.68 | % | 1.40 | % | 1.42 | % | (4.45 | )% | 0.44 | %E | ||||||||||||||||
Portfolio turnover rate |
19 | %D | 40 | % | 42 | % | 28 | % | 35 | % | 42 | % | 19 | %D | 40 | %G |
A | Amounts represent less than $0.01 per share. | |
B | May include adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. | |
C | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
D | Not annualized. | |
E | Annualized. | |
F | Portfolio turnover rate is for the period from November 1, 2005 through October 31, 2006. | |
G | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. | |
H | Portfolio turnover rate is for the period from November 1, 2006 through October 31, 2007. | |
I | On November 30, 2005, the Mid-Cap Value Funds Institutional Class of shares was renamed the AMR Class and the Fund began offering a new class of shares known as the Institutional Class. |
48
C Class | ||||||||
Six Months | September | |||||||
Ended | 01 to | |||||||
April 30, | October | |||||||
2011 | 31, 2010 | |||||||
(unaudited) | ||||||||
$ | 9.18 | $ | 8.30 | |||||
0.00 | (0.01 | ) | ||||||
1.68 | 0.89 | |||||||
1.68 | 0.88 | |||||||
(0.05 | ) | | ||||||
| | |||||||
(0.05 | ) | | ||||||
| 0.00 | |||||||
$ | 10.81 | $ | 9.18 | |||||
18.22 | %D | 10.60 | %D | |||||
$ | 1 | $ | 1 | |||||
2.24 | % | 2.24 | %E | |||||
274.79 | % | 3.20 | %E | |||||
(0.04 | )% | (0.36 | )%E | |||||
(272.59 | )% | (1.32 | )%E | |||||
19 | %D | 40 | %G | |||||
· |
49
7 | 8 | |
By E-mail:
|
On the Internet: | |
american_beacon.funds@ambeacon.com
|
Visit our website at www.americanbeaconfunds.com | |
( | - | |
By Telephone:
|
By Mail: | |
Institutional, Y, Investor, and Advisor Classes | American Beacon Funds | |
Call (800) 658-5811
|
P.O. Box 219643 | |
AMR ClassSM
|
Kansas City, MO 64121-9643 | |
Call (800) 345-2345 |
||
Availability of Quarterly Portfolio Schedules
|
Availability of Proxy Voting Policy and Records | |
In addition to the Schedule of Investments
provided in each semi-annual and annual
report, the Fund files a complete schedule of
its portfolio holdings with the Securities and
Exchange Commission (SEC) on Form N-Q as of
the first and third fiscal quarters. The
Funds Forms N-Q are available on the SECs
website at www.sec.gov. The Forms N-Q may also
be reviewed and copied at the SECs Public
Reference Room, 450 Fifth Street, NW,
Washington, DC 20549. Information regarding
the operation of the SECs Public Reference
Room may be obtained by calling
1-800-SEC-0330. A complete schedule of the
Funds portfolio holdings is also available on
the Funds website
(www.americanbeaconfunds.com) approximately
twenty days after the end of each month.
|
A description of the policies and procedures the Fund uses to determine how to vote proxies relating to portfolio securities is available in the Funds Statement of Additional Information, is available free of charge on the Funds website (www.americanbeaconfunds.com) and by calling 1-800-967-9009 or by accessing the SECs website at www.sec.gov. The Funds proxy voting record for the most recent year ended June 30 is filed annually with the SEC on Form N-PX. The Funds Forms N-PX are available on the SECs website at www.sec.gov. The Funds proxy voting record may also be obtained by calling 1-800-967-9009. |
Custodian State Street Bank and Trust Boston, Massachusetts |
Transfer Agent Boston Financial Data Services Kansas City, Missouri |
Independent
Registered Public Accounting Firm Ernst & Young LLP Dallas, Texas |
Distributor Foreside Fund Services, LLC Portland, Maine |
HIGH YIELD BOND FUND RETIREMENT INCOME AND APPRECIATION FUND |
INTERMEDIATE BOND FUND SHORT-TERM BOND FUND |
Semi-Annual Report |
April 30, 2011 |
1 | ||||
2-12 | ||||
American Beacon Schedules of Investments |
||||
15 | ||||
21 | ||||
29 | ||||
37 | ||||
Back Cover |
Best Regards, |
||||
![]() |
||||
Gene L. Needles, Jr. | ||||
President American Beacon Funds |
1
2
3
4
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional
Class(1,8) |
6.81 | % | 13.28 | % | 7.04 | % | 8.07 | % | ||||||||
Y Class (1,2,8) |
6.83 | % | 13.47 | % | 7.08 | % | 8.09 | % | ||||||||
Investor Class(1,3,8) |
6.65 | % | 13.09 | % | 6.78 | % | 7.81 | % | ||||||||
A Class with sales
charge (1,5,8) |
1.49 | % | 7.88 | % | 5.77 | % | 7.30 | % | ||||||||
A Class without sales
charge (1,5,8) |
6.52 | % | 13.21 | % | 6.80 | % | 7.82 | % | ||||||||
C Class with sales
charge (1,6,8) |
4.34 | % | 11.36 | % | 6.64 | % | 7.74 | % | ||||||||
C Class without sales
charge (1,6,8) |
5.34 | % | 12.36 | % | 6.64 | % | 7.74 | % | ||||||||
AMR Class (1,4,8) |
6.94 | % | 13.69 | % | 7.27 | % | 8.18 | % | ||||||||
JPMorgan GlobaL
High-Yield Index(7) |
6.56 | % | 13.51 | % | 9.38 | % | 9.42 | % | ||||||||
Lipper High Current
Yield Funds Index(7) |
6.64 | % | 13.47 | % | 7.08 | % | 7.03 | % |
* | Not annualized |
1. | Performance shown is historical and may not be indicative of future returns. Please note that recent market performance has helped to produce short-term returns that are not typical and may not continue in the future. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. A portion of the fees charged to the Institutional Class of the Fund was waived through 2004. Performance prior to waiving fees was lower than the actual returns shown for periods through 2004. | |
2. | Fund performance for the five-year and ten-year period represents the total returns achieved by the Institutional Class from 4/30/01 up to 3/1/10, the inception date of the Y Class, and the returns of the Y Class since its inception. Expenses of the Y Class are higher than those of the Institutional Class. As a result, total returns shown may be higher than they would have been had the Y Class been in existence since 4/30/01. A portion of the fees charged to the Y Class of the Fund was waived in 2011. Performance prior to waiving fees was lower than the actual returns shown. | |
3. | Fund performance for the ten-year period represents the total returns achieved by the Institutional Class from 4/30/01 up to 3/1/02, the inception date of the Investor Class, and the returns of the Investor Class since its inception. Expenses of the Investor Class are higher than those of the Institutional Class. As a result, total returns shown may be higher than they would have been had the Investor Class been in existence since 4/30/01. | |
4. | Fund performance for the five-year and ten-year periods represents the total returns achieved by the Institutional Class from 4/30/01 up to 9/4/07, the inception date of the AMR Class, and the returns of the AMR Class since its inception. Expenses of the AMR Class are lower than those of the Institutional Class. As a result, total returns shown may be lower than they would have been had the AMR Class been in existence since 4/30/01. | |
5. | Fund performance for the one-year, five-year, and ten-year periods represent the returns achieved by the Institutional Class from 4/30/01 through 3/1/02, and the returns of the Investor Class from 3/1/02 up to 5/17/10, the inception date of the A Class, and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Institutional and Investor Classes. As a result, total returns shown may be higher than they would have been had the A Class been in existence since 4/30/01. A portion of the fees charged to the A Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. The maximum sales charge for A Class is 4.75%. | |
6. | Fund performance for the one-year, five-year, and ten-year periods represent the returns achieved by the Institutional Class from 4/30/01 through 3/1/02, and the returns of the Investor Class from 3/1/02 up to 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Institutional and Investor Classes. As a result, total returns shown may be higher than they would have been had the C Class been in existence since 4/30/01. A portion of the fees charged to the C Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. The maximum contingent deferred sales charge for C Class is 1.00% for shares redeemed within one year of the date of purchase. | |
7. | The JPMorgan Global High-Yield Index (JPMorgan Index) is an unmanaged index of fixed income securities with a maximum credit rating of BB+ or Ba1. Issues must be publicly registered or issued under Rule 144A under the Securities Act of 1933, with a minimum issue size of $75 million (par amount). A maximum of two issues per issuer are included in the JPMorgan Index. Convertible bonds, preferred stock, and floating-rate bonds are excluded from the JPMorgan Index. The Lipper High Current Yield Funds Index tracks the results of the 30 largest mutual funds in the Lipper High Current Yield Funds category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
8. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, Investor, A, C, and AMR Class shares was 0.80%, 0.83%, 1.05%, 1.31%, 2.06%, and 0.55%, respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that are based on expenses incurred during the period covered by this report. |
5
% of | ||||
Net Assets | ||||
RITE AID Corp., 9.750%, Due 6/12/2016 |
1.0 | % | ||
CIT Group, Inc., 7.000%, Due 5/1/2017 |
1.0 | % | ||
HCA, Inc., 9.625%, Due 11/15/2016 |
0.9 | % | ||
Visant Corp., 10.000%, Due 10/1/2017 |
0.9 | % | ||
Enterprise Products Operating LLC, 7.034%, Due 1/15/2068 |
0.9 | % | ||
MacDermid, Inc., 9.500%, Due 4/15/2017 |
0.8 | % | ||
Energy XXI Gulf Coast, Inc., 9.250%, Due 12/15/2017 |
0.8 | % | ||
Caesars Entertainment Operating Co, Inc., 11.250%, Due 6/1/2017 |
0.8 | % | ||
DISH DBS Corp., 7.125%, Due 2/1/2016 |
0.8 | % | ||
Petco Animal Supplies, Inc., 9.250%, Due 12/1/2018 |
0.7 | % |
% of | ||||
Fixed Income | ||||
Corporate |
99.1 | % | ||
Convertibles |
0.9 | % |
% of | ||||
Equities | ||||
Financials |
39.0 | % | ||
Telecommunication Services |
30.2 | % | ||
Rights/Warrants |
16.5 | % | ||
Consumer Discretionary |
14.3 | % |
6
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
Since | ||||||||||||||||
Incep. | ||||||||||||||||
6 Months* | 1 Year | 5 Years | (7/1/03) | |||||||||||||
Y Class (1,2,7) |
2.24 | % | 7.58 | % | 6.01 | % | 5.02 | % | ||||||||
Investor Class(1,7) |
2.12 | % | 7.35 | % | 5.98 | % | 4.99 | % | ||||||||
A Class with sales
charge (1,3,7) |
-2.82 | % | 2.20 | % | 4.95 | % | 4.34 | % | ||||||||
A Class without
sales charge
(1,3,7) |
2.04 | % | 7.30 | % | 5.97 | % | 4.99 | % | ||||||||
C Class with sales
charge (1,4,7) |
0.78 | % | 5.81 | % | 5.87 | % | 4.93 | % | ||||||||
C Class without
sales charge
(1,4,7) |
1.78 | % | 6.81 | % | 5.87 | % | 4.93 | % | ||||||||
Retirement Income
and Appreciation
Composite
Index(6) |
2.82 | % | 8.04 | % | 6.34 | % | 5.36 | % | ||||||||
Barclays Capital
Aggregrate
Index (5) |
0.02 | % | 5.36 | % | 6.33 | % | 4.79 | % | ||||||||
BofA Merrill Lynch
All
U.S.Convertibles
Index (5) |
11.55 | % | 15.87 | % | 5.88 | % | 7.36 | % | ||||||||
Lipper Intermediate
Investment
Grade Index (5) |
0.86 | % | 6.78 | % | 6.11 | % | 4.70 | % |
* | Not annualized |
1. | Performance shown is historical and may not be indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. | |
2. | Fund performance for the five-year and since inception period represent the returns achieved by the Investor Class from 7/1/03 up to 3/1/10, the inception date of the Y Class, and the returns of the Y Class since its inception. Expenses of the Y Class are lower than those of the Investor Class. As a result, total returns shown may be lower than they would have been had the Y Class been in existence since 7/1/03. A portion of the fees charged to the Y Class of the Fund was waived in 2011. Performance prior to waiving fees was lower than the actual returns shown. | |
3. | Fund performance for the one-year, five-year, and since inception periods represent the returns achieved by the Investor Class from 7/1/03 up to 5/17/10, the inception date of the A Class and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the A Class been in existence since 7/1/03. A portion of the fees charged to the A Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. The maximum sales charge for A Class is 4.75%. | |
4. | Fund performance for the one-year, five-year, and since inception periods represent the returns achieved by the Investor Class from 7/1/03 up to 9/1/10, the inception date of the C Class and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the C Class been in existence since 7/1/03. A portion of the fees charged to the C Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. The maximum contingent deferred sales charge for Class is 1.00% for shares redeemed within one year of the date of purchase. | |
5. | The Barclays Capital Aggregate Index represents returns of the Barclays Capital Gov./Credit Intermediate Index (Intermediate Index) up to October 31, 2006 and the Barclays Capital Aggregate Index (Aggregate Index) thereafter. The Intermediate Index is an unmanaged index of investment grade corporate and government debt issues with maturities between one and ten years. The Aggregate Index is a market value weighted index of government, corporate, mortgage-backed and asset-backed fixed-rate debt securities of all maturities. The BofA Merrill Lynch All U.S. Convertibles Index is an unmanaged index of domestic securities of all quality grades that are convertible into U.S. dollar-denominated common stock, ADRs or cash equivalents. The Lipper Intermediate Investment Grade Index tracks the results of the 30 largest mutual funds in the Lipper Intermediate Investment Grade category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
6. | To reflect the Funds allocation of its assets between investment grade fixed-income securities and convertible securities, the returns of the Barclays Capital Aggregate Index and the BofA Merrill Lynch All U.S. Convertibles Index have been combined in a 75%/25% proportion. | |
7. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Investor, Y, A and C, Class shares was 1.09%, 0.81%, 1.21% and 2.01%, respectively. The expense ratio above may vary from the expense ratio presented in other sections of this report that is based on expenses incurred during the period covered by this report. |
7
% of | ||||
Net Assets | ||||
Freddie Mac Gold Pool, 4.500%, Due 2/1/2041 |
1.4 | % | ||
Freddie Mac Gold Pool, 4.000%, Due 1/1/2041 |
1.2 | % | ||
EMC Corp., 1.750%, Due 12/1/2013 |
1.1 | % | ||
Fannie Mae Pool, 4.50%, Due 1/1/2040 |
1.0 | % | ||
Freddie Mac Gold Pool, 5.000%, Due 9/1/2035 |
0.9 | % | ||
Societe Generale, 1.326%, Due 4/11/2014 |
0.8 | % | ||
Fannie Mae Pool, 4.000%, Due 9/1/2040 |
0.7 | % | ||
Bank of America Corp., 7.625%, Due 6/1/2019 |
0.7 | % | ||
American Express Credit Account Master Trust, 5.350%, Due
1/15/2014 |
0.7 | % | ||
General Electric Capital Corp., 0.503%, Due 1/8/2016 |
0.7 | % |
% of | ||||
Fixed Income | ||||
Corporate |
39.2 | % | ||
U.S. Treasury |
22.7 | % | ||
Mortgage-Backed |
15.7 | % | ||
Convertibles |
13.1 | % | ||
Asset-Backed |
3.5 | % | ||
Commercial Mortgage-Backed Securities |
3.3 | % | ||
Convertible Obligations |
2.1 | % | ||
Other Government |
0.4 | % |
% of | ||||
Equities | ||||
Energy |
27.2 | % | ||
Information Technology. |
26.0 | % | ||
Financials |
14.9 | % | ||
Consumer Staples |
11.4 | % | ||
Industrials |
9.0 | % | ||
Materials |
4.5 | % | ||
Commingled Fund |
3.5 | % | ||
Health Care |
3.5 | % |
8
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional Class(1,5) |
-0.07 | % | 5.06 | % | 6.61 | % | 5.71 | % | ||||||||
Y Class (1,2,5) |
0.14 | % | 5.15 | % | 6.63 | % | 5.72 | % | ||||||||
Investor Class (1,3,5) |
-0.31 | % | 4.56 | % | 6.38 | % | 5.59 | % | ||||||||
A Class with sales
charge (1,4,7) |
-5.12 | % | -0.59 | % | 5.30 | % | 5.05 | % | ||||||||
A Class without sales
charge (1,4,7) |
-0.41 | % | 4.33 | % | 6.33 | % | 5.57 | % | ||||||||
C Class with sales
charge (1,5,7) |
-1.76 | % | 2.95 | % | 6.25 | % | 5.53 | % | ||||||||
C Class without sales
charge (1,5,7) |
-0.76 | % | 3.95 | % | 6.25 | % | 5.53 | % | ||||||||
Barclays Capital Agg.
Index (6) |
0.02 | % | 5.36 | % | 6.33 | % | 5.74 | % | ||||||||
Lipper Intermediate Inv.
Grade Index (6) |
0.86 | % | 6.78 | % | 6.11 | % | 5.55 | % |
* | Not annualized |
1. | Performance shown is historical and may not be indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. Performance shown reflects the Funds receipt in December 2006 and March 2008 of class action proceeds that were related to investment activity in 2002. The Funds performance was higher than it would have been absent receipt of the settlement proceeds. | |
2. | Fund performance for the five-year and ten-year period represents the returns achieved by the Institutional Class from 4/30/01 up to 3/1/10, the inception date of the Y Class, and the returns of the Y Class since its inception. Expenses of the Y Class are higher than those of the Institutional Class. As a result, total returns shown may be higher than they would have been had the Y Class been in existence since 4/30/01. A portion of the fees charged to the Y Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. | |
3. | Fund performance represents the total returns achieved by the Institutional Class up to 3/2/09, the inception date of the Investor Class, and the returns of the Investor Class since its inception. Expenses of the Investor Class are higher than those of the Institutional Class. As a result, total returns shown may be higher than they would have been had the Investor Class been in existence since 4/30/01. A portion of the fees charged to the Investor Class of the Fund was waived since 2009. Performance prior to waiving fees was lower than the actual returns shown since 2009. | |
4. | Fund performance for the one-year, five-year, and ten-year period represents the total returns achieved by the Institutional Class from 4/30/01 through 3/2/09, the Investor Class from 3/2/09 up to 5/17/10, the inception date of the A Class, and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Institutional and Investor Classes. As a result, total returns shown may be higher than they would have been had the A Class been in existence since 4/30/01. A portion of the fees charged to the A Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. The maximum sales charge for A Class is 4.75%. | |
5. | Fund performance for the one-year, five-year, and ten-year period represents the total returns achieved by the Institutional Class from 4/30/01 through 3/2/09, the Investor Class from 3/2/09 up to 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Institutional and Investor Classes. As a result, total returns shown may be higher than they would have been had the C Class been in existence since 4/30/01. A portion of the fees charged to the C Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. The maximum contingent deferred sales charge is 1.00% for shares redeemed within one year of the date of purchase. | |
6. | The Barclays Capital Aggregate Index is a market value weighted index of government, corporate, mortgage-backed and asset-backed fixed-rate debt securities of all maturities. The Lipper Intermediate Investment Grade Index tracks the results of the 30 largest mutual funds in the Lipper Intermediate Investment Grade category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
7. | The total annual Fund operating expense ratios set forth in the most recent Fund prospectus for the Institutional, Y, Investor, A and C Class shares was 0.34%, 0.68%, 0.84%, 1.06, and 1.83%, respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that is based on expenses incurred during the period covered by this report. |
9
% of | ||||
Net Assets | ||||
Freddie Mac Gold Pool, 5.00%, Due 4/1/2040 |
1.6 | % | ||
Fannie Mae Pool, 5.00%, Due 5/1/2040 |
1.4 | % | ||
Fannie Mae Pool, 4.500%, Due 3/1/2025 |
1.2 | % | ||
Fannie Mae Pool, 4.50%, Due 1/1/2040 |
1.2 | % | ||
Freddie Mac Gold Pool, 5.00%, Due 5/1/2040 |
1.0 | % | ||
Fannie Mae Pool, 5.50%, Due 6/1/2040 |
0.9 | % | ||
Fannie Mae Pool, 4.50%, Due 6/1/2025 |
0.9 | % | ||
The Bear Stearns Cos., Inc., 7.25%, Due 2/1/2018 |
0.8 | % | ||
Fannie Mae Pool, 5.00%, Due 1/1/2041 |
0.8 | % | ||
Fannie Mae Pool, 4.50%, Due 8/1/2040 |
0.8 | % |
% of | ||||
Fixed Income | ||||
Corporate |
45.1 | % | ||
Mortgage-Backed |
25.5 | % | ||
U.S. Treasury |
21.5 | % | ||
Commercial Mortgage Backed Securities |
4.0 | % | ||
Asset-Backed |
3.2 | % | ||
Agency |
0.4 | % | ||
Other Government |
0.3 | % |
10
Annualized Total Returns | ||||||||||||||||
Periods Ended 4/30/11 | ||||||||||||||||
6 Months* | 1 Year | 5 Years | 10 Years | |||||||||||||
Institutional Class(1,4) |
0.24 | % | 2.35 | % | 4.24 | % | 3.91 | % | ||||||||
Y Class (1,2,4) |
0.18 | % | 2.16 | % | 4.22 | % | 3.90 | % | ||||||||
Investor Class(1,4) |
0.13 | % | 1.90 | % | 3.81 | % | 3.44 | % | ||||||||
A Class with sales charge (1,3,6) |
-2.57 | % | -0.84 | % | 3.26 | % | 3.16 | % | ||||||||
A Class without sales charge
(1,3,6) |
-0.05 | % | 1.74 | % | 3.78 | % | 3.42 | % | ||||||||
C Class with sales charge (1,4,6) |
-1.37 | % | 0.35 | % | 3.70 | % | 3.38 | % | ||||||||
C Class without sales charge
(1,4,6) |
-0.37 | % | 1.35 | % | 3.70 | % | 3.38 | % | ||||||||
Lipper Short Inv. Grade
Index(3) |
0.73 | % | 3.29 | % | 3.83 | % | 3.44 | % | ||||||||
BofA Merrill Lynch 1-3 Yr.
Gov./Corp. Index(3) |
0.34 | % | 2.26 | % | 4.46 | % | 4.02 | % |
* | Not annualized |
1. | Performance shown is historical and may not be indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please visit www.americanbeaconfunds.com or call 1-800-967-9009. Fund performance in the table above does not reflect the deduction of taxes a shareholder would pay on distributions or the redemption of shares. A portion of the fees charged to the Investor Class of the Fund has been waived. Performance prior to waiving fees was lower than the actual returns shown. Performance shown reflects the Funds receipt in December 2006 and March 2008 of class action proceeds that were related to investment activity in 2002. The Funds performance was higher than it would have been absent receipt of the settlement proceeds. | |
2. | Fund performance for the five-year and ten-year period represents the total returns achieved by the Institutional Class from 4/30/01 up to 3/1/10, the inception date of the Y Class, and the returns of the Y Class since its inception. Expenses of the Y Class are higher than those of the Institutional Class. As a result, total returns shown may be higher than they would have been had the Y Class been in existence since 4/30/01. A portion of the fees charged to the Y Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. | |
3. | Fund performance for the one-year, five-year, and ten-year period represents the total returns achieved by the Investor Class from 4/30/01 up to 5/17/10, the inception date of the A Class, and the returns of the A Class since its inception. Expenses of the A Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the A Class been in existence since 4/30/01. A portion of the fees charged to the A Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. The maximum sales charge for A Class is 2.50%. | |
4. | Fund performance for the one-year, five-year, and ten-year period represents the total returns achieved by the Investor Class from 4/30/01 up to 9/1/10, the inception date of the C Class, and the returns of the C Class since its inception. Expenses of the C Class are higher than those of the Investor Class. As a result, total returns shown may be higher than they would have been had the C Class been in existence since 4/30/01. A portion of the fees charged to the C Class of the Fund was waived since 2010. Performance prior to waiving fees was lower than the actual returns shown since 2010. The maximum contingent deferred sales charge is 1.00% for shares redeemed within one year of the date of purchase. | |
5. | The BofA Merrill Lynch 1-3 Yr. Gov./Corp. Index is a market value weighted performance benchmark for government and corporate fixed-rate debt securities with maturities between one and three years. The Lipper Short Investment Grade Bond Funds Index tracks the results of the 30 largest mutual funds in the Lipper Short Investment Grade Bond Funds category. Lipper is an independent mutual fund research and ranking service. One cannot directly invest in an index. | |
6. | The total annual Fund operating expense ratio set forth in the most recent Fund prospectus for the Institutional, Y, Investor, A and C Class shares was 0.35%, 0.65%, 0.86%, 1.02%, and 2.05%, respectively. The expense ratios above may vary from the expense ratios presented in other sections of this report that are based on expenses incurred during the period covered by this report. |
11
% of | ||||
Net Assets | ||||
GE Capital Credit Card Master Note Trust, 3.690%, Due
7/15/2015 |
2.3 | % | ||
Ally Master Owner Trust, 1.969%, Due 1/15/2015 |
1.8 | % | ||
Government National Mortgage Association, 1.864%, Due 8/16/2031 |
1.8 | % | ||
Ford Credit Floorplan Master Owner Trust, 1.769%, Due 9/15/2014 |
1.7 | % | ||
ING Bank N.V., 1.359%, Due 3/15/2013 |
1.6 | % | ||
Nissan Master Owner Trust Receivables, 1.405%, Due 1/15/2015 |
1.6 | % | ||
Government National Mortgage Association, 2.450%, Due 7/16/2038 |
1.6 | % | ||
Verizon Communications, Inc., 0.918%, Due 3/28/2014 |
1.6 | % | ||
Government National Mortgage Association, 2.210%, Due 11/16/2034 |
1.6 | % | ||
Government National Mortgage Association, 2.210%, Due 12/16/2035 |
1.6 | % |
% of | ||||
Fixed Income | ||||
Corporate |
50.0 | % | ||
Asset-Backed |
21.0 | % | ||
Mortgage-Backed |
16.2 | % | ||
U.S. Treasury |
11.0 | % | ||
Commercial Mortgage Backed Securities |
1.8 | % |
12
High Yield | Intermediate | Short-Term | ||||||||||
Institutional Class | Bond Fund | Bond Fund | Bond Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 4/30/11 |
$ | 1,068.06 | $ | 999.30 | $ | 1,002.37 | ||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 4.22 | $ | 1.58 | $ | 1.56 | ||||||
Annualized Expense Ratio |
0.82 | % | 0.32 | % | 0.31 | % |
Retirement | ||||||||||||||||
Income and | ||||||||||||||||
High Yield | Appreciation | Intermediate | Short-Term | |||||||||||||
Y Class | Bond Fund | Fund | Bond Fund | Bond Fund | ||||||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Ending Account Value 4/30/11 |
$ | 1,068.29 | $ | 1,022.36 | $ | 1001.41 | $ | 1,001.83 | ||||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 4.31 | $ | 4.18 | $ | 3.22 | $ | 3.21 | ||||||||
Annualized Expense Ratio |
0.84 | % | 0.83 | % | 0.65 | % | 0.65 | % |
Retirement | ||||||||||||||||
Income and | ||||||||||||||||
High Yield | Appreciation | Intermediate | Short-Term | |||||||||||||
Investor Class | Bond Fund | Fund | Bond Fund | Bond Fund | ||||||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Ending Account Value 4/30/11 |
$ | 1,066.53 | $ | 1,021.21 | $ | 996.93 | $ | 1,001.28 | ||||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 5.49 | $ | 5.49 | $ | 3.91 | $ | 3.76 | ||||||||
Annualized Expense Ratio |
1.07 | % | 1.10 | % | 0.79 | % | 0.76 | % |
Retirement | ||||||||||||||||
Income and | ||||||||||||||||
High Yield | Appreciation | Intermediate | Short-Term | |||||||||||||
A Class | Bond Fund | Fund | Bond Fund | Bond Fund | ||||||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Ending Account Value 4/30/11 |
$ | 1,065.22 | $ | 1,020.37 | $ | 995.93 | $ | 999.52 | ||||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 5.75 | $ | 5.96 | $ | 4.86 | $ | 4.09 | ||||||||
Annualized Expense Ratio |
1.12 | % | 1.19 | % | 0.98 | % | 0.83 | % |
Retirement | ||||||||||||||||
Income and | ||||||||||||||||
High Yield | Appreciation | Intermediate | Short-Term | |||||||||||||
C Class | Bond Fund | Fund | Bond Fund | Bond Fund | ||||||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Ending Account Value 4/30/11 |
$ | 1,062.71 | $ | 1,017.84 | $ | 992.40 | $ | 996.26 | ||||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 9.30 | $ | 9.91 | $ | 8.45 | $ | 7.80 | ||||||||
Annualized Expense Ratio |
1.82 | % | 1.98 | % | 1.71 | % | 1.58 | % |
High Yield | ||||
AMR Class | Bond Fund | |||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | ||
Ending Account Value 4/30/2011 |
$ | 1,069.38 | ||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 2.90 | ||
Annualized Expense Ratio |
0.57 | % |
13
High Yield | Intermediate | Short-Term | ||||||||||
Institutional Class | Bond Fund | Bond Fund | Bond Fund | |||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
Ending Account Value 4/30/11 |
$ | 1,020.72 | $ | 1,023.22 | $ | 1,023.24 | ||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 4.12 | $ | 1.60 | $ | 1.58 | ||||||
Annualized Expense Ratio |
0.82 | % | 0.32 | % | 0.31 | % |
Retirement | ||||||||||||||||
Income and | ||||||||||||||||
High Yield | Appreciation | Intermediate | Short-Term | |||||||||||||
Y Class | Bond Fund | Fund | Bond Fund | Bond Fund | ||||||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Ending Account Value 4/30/11 |
$ | 1,020.62 | $ | 1,020.66 | $ | 1,021.58 | $ | 1,021.58 | ||||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 4.21 | $ | 4.18 | $ | 3.25 | $ | 3.24 | ||||||||
Annualized Expense Ratio |
0.84 | % | 0.83 | % | 0.65 | % | 0.65 | % |
Retirement | ||||||||||||||||
Income and | ||||||||||||||||
High Yield | Appreciation | Intermediate | Short-Term | |||||||||||||
Investor Class | Bond Fund | Fund | Bond Fund | Bond Fund | ||||||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Ending Account Value 4/30/11 |
$ | 1,019.48 | $ | 1,019.36 | $ | 1,020.88 | $ | 1,021.03 | ||||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 5.37 | $ | 5.49 | $ | 3.95 | $ | 3.80 | ||||||||
Annualized Expense Ratio |
1.07 | % | 1.10 | % | 0.79 | % | 0.76 | % |
Retirement | ||||||||||||||||
Income and | ||||||||||||||||
High Yield | Appreciation | Intermediate | Short-Term | |||||||||||||
A Class | Bond Fund | Fund | Bond Fund | Bond Fund | ||||||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Ending Account Value 4/30/11 |
$ | 1,019.22 | $ | 1,018.89 | $ | 1,019.93 | $ | 1,020.70 | ||||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 5.63 | $ | 5.96 | $ | 4.92 | $ | 4.14 | ||||||||
Annualized Expense Ratio |
1.12 | % | 1.19 | % | 0.98 | % | 0.83 | % |
Retirement | ||||||||||||||||
Income and | ||||||||||||||||
High Yield | Appreciation | Intermediate | Short-Term | |||||||||||||
C Class | Bond Fund | Fund | Bond Fund | Bond Fund | ||||||||||||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
Ending Account Value 4/30/11 |
$ | 1,015.78 | $ | 1,014.97 | $ | 1,016.31 | $ | 1,016.98 | ||||||||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 9.09 | $ | 9.90 | $ | 8.55 | $ | 7.88 | ||||||||
Annualized Expense Ratio |
1.82 | % | 1.98 | % | 1.71 | % | 1.58 | % |
High Yield | ||||
AMR Class | Bond Fund | |||
Beginning Account Value 11/1/10 |
$ | 1,000.00 | ||
Ending Account Value 4/30/11 |
$ | 1,021.99 | ||
Expenses Paid During Period 11/1/10-4/30/11 * |
$ | 2.83 | ||
Annualized Expense Ratio |
0.57 | % |
* | Expenses are equal to the Funds annualized expense ratio for the six-month period multiplied by the average account value over the period, multiplied by the number derived by dividing the number of days in the most recent fiscal half-year ( 181 ) by days in the year ( 365 ) to reflect the half-year period. |
14
Value | ||||||||
Shares | ($000) | |||||||
COMMON STOCKS - 0.63% |
||||||||
COMMUNICATIONS- 0.28% |
||||||||
Communications - 0.21% |
||||||||
Charter Communications, Inc. |
$ | 9,435 | $ | 308 | ||||
308 | ||||||||
Media - 0.07% |
||||||||
Dex One Corp.A |
23,761 | 100 | ||||||
SuperMedia, Inc.A |
1,037 | 5 | ||||||
105 | ||||||||
CONSUMER DISCRETIONARY- 0.14% |
||||||||
Automobiles -
0.14% |
||||||||
General Motors Co.A |
6,092 | 196 | ||||||
FINANCIALS- 0.05% |
||||||||
Finance -
0.05% |
||||||||
Marsico Holdings LLCA |
13,199 | 66 | ||||||
RIGHTS/WARRANTS- 0.16% |
||||||||
Rights/Warrants - 0.16% |
||||||||
General
Motors Co.,A
B |
||||||||
Due 7/10/2016A B |
5,538 | 128 | ||||||
Due 7/10/2019A B |
5,538 | 99 | ||||||
Total Common Stocks (Cost $2,464) |
902 | |||||||
PREFERRED STOCKS - 0.33% |
||||||||
FINANCIALS- 0.33% |
||||||||
Diversified
Financials - 0.01% |
||||||||
Federal Home Loan Mortgage Corp. |
10,000 | 20 | ||||||
Finance -
0.32% |
||||||||
Ally Financial, Inc. |
11,759 | 449 | ||||||
449 | ||||||||
Total Preferred Stocks (Cost $541) |
469 | |||||||
Par Amount | Value | ||||||||
($000) | ($000) | ||||||||
CORPORATE OBLIGATIONS - 93.97% |
|||||||||
Finance - 10.71% |
|||||||||
Alliant Holdings I, Inc., 11.00%, Due 5/1/2015C |
575 | 608 | |||||||
Ally Financial, Inc., |
|||||||||
6.875%, Due 8/28/2012 |
600 | 631 | |||||||
8.00%, Due 12/31/2018 |
300 | 332 | |||||||
7.50%, Due 9/15/2020C |
300 | 327 | |||||||
Bank of America Corp., 8.125%, Due 12/29/2049 |
800 | 865 | |||||||
Bank of New York Mellon SA Institucion de Banca Multiple, 9.625%, Due 5/2/2021C |
275 | 277 | |||||||
Bank One Capital III, 8.75%, Due 9/1/2030 |
420 | 536 | |||||||
CIT Group, Inc., |
|||||||||
7.00%, Due 5/1/2017 |
1,400 | 1,411 | |||||||
6.625%, Due 4/1/2018C |
100 | 107 | |||||||
Diversey Holdings, Inc., 10.50%, Due 5/15/2020E |
600 | 699 | |||||||
E*Trade Financial Corp., 12.50%, Due 11/30/2017E |
275 | 328 | |||||||
Fontainebleau Las Vegas Holdings LLC, 10.25%, Due 6/15/2015C F |
1,800 | 1 | |||||||
Forest City Enterprises, Inc., 7.625%, Due 6/1/2015 |
600 | 588 | |||||||
Harbinger Group, Inc., 10.625%, Due 11/15/2015C |
300 | 309 | |||||||
HUB International Holdings, Inc., 10.25%, Due 6/15/2015C |
825 | 858 | |||||||
International Lease Finance Corp., 5.65%, Due 6/1/2014 |
1,000 | 1,019 | |||||||
iPayment Holdings, Inc., 10.25%, Due 5/15/2018C |
325 | 328 | |||||||
Liberty Mutual Group, Inc., 10.75%, Due 6/15/2058C D |
735 | 1,000 | |||||||
Marsico Holdings LLC / Marsico Co Notes Corp., 10.625%, Due 1/15/2020C E |
805 | 644 | |||||||
MBNA Capital A, 8.278%, Due 12/1/2026 |
625 | 644 | |||||||
MetLife, Inc., 10.75%, Due 8/1/2039 |
300 | 423 | |||||||
Nationwide Mutual Insurance Co., 9.375%, Due 8/15/2039C |
500 | 629 | |||||||
Needle Merger Sub Corp., 8.125%, Due 3/15/2019C |
300 | 308 |
15
Par Amount | Value | |||||||
($000) | ($000) | |||||||
Nuveen Investments, Inc., 10.50%, Due 11/15/2015 |
$ | 350 | $ | 364 | ||||
Oppenheimer Holdings, Inc., 8.75%, Due 4/15/2018C |
275 | 287 | ||||||
Orascom Telecom Finance SCA, 7.875%, Due 2/8/2014C |
660 | 673 | ||||||
UPCB Finance III Ltd., 6.625%, Due 7/1/2020C |
800 | 787 | ||||||
Yanlord Land Group Ltd., 10.625%, Due 3/29/2018C |
300 | 308 | ||||||
15,291 | ||||||||
Industrials - 76.30% |
||||||||
Abengoa Finance SAU, 8.875%, Due 11/1/2017C |
700 | 711 | ||||||
Accuride Corp., 9.50%, Due 8/1/2018 |
310 | 346 | ||||||
Advanced Micro Devices, Inc., |
||||||||
8.125%, Due 12/15/2017 |
200 | 212 | ||||||
7.75%, Due 8/1/2020 |
300 | 313 | ||||||
AEP Industries, Inc., 8.25%, Due 4/15/2019C |
400 | 410 | ||||||
Allison Transmission, Inc., 7.125%, Due 5/15/2019C |
575 | 582 | ||||||
American Petroleum Tankers Parent LLC / AP Tankers Co., 10.25%, Due 5/1/2015C |
679 | 720 | ||||||
Aquilex Holdings LLC/Aquilex Finance Corp., 11.125%, Due 12/15/2016 |
250 | 258 | ||||||
ARAMARK Holdings Corp., 8.625%, Due 5/1/2016C E |
100 | 103 | ||||||
Ardagh Packaging Finance plc, 9.125%, Due 10/15/2020C |
250 | 276 | ||||||
Atkore International, Inc., 9.875%, Due 1/1/2018C |
415 | 451 | ||||||
Avaya, Inc., 7.00%, Due 4/1/2019C |
700 | 693 | ||||||
Aviv Healthcare Properties LP, 7.75%, Due 2/15/2019C |
500 | 528 | ||||||
Berry Petroleum Co., 10.25%, Due 6/1/2014 |
397 | 462 | ||||||
Blue Merger Sub, Inc., 7.625%, Due 2/15/2019C |
400 | 410 | ||||||
Boart Longyear Management Pty Ltd., 7.00%, Due 4/1/2021C |
100 | 104 | ||||||
BreitBurn Energy Partners LP / BreitBurn Finance Corp., 8.625%, Due 10/15/2020 |
400 | 426 | ||||||
Brickman Group Holdings, Inc., 9.125%, Due 11/1/2018C |
435 | 455 | ||||||
Brightstar Corp., 9.50%, Due 12/1/2016C |
635 | 679 | ||||||
Brown Shoe Co, Inc., 7.125%, Due 5/15/2019C |
140 | 140 | ||||||
Buccaneer Merger Sub, Inc., 9.125%, Due 1/15/2019C |
300 | 322 | ||||||
Building Materials Corp of America, 6.75%, Due 5/1/2021C |
180 | 182 | ||||||
Cablevision Systems Corp., 8.625%, Due 9/15/2017 |
500 | 560 | ||||||
Caesars Entertainment Operating Co, Inc., |
||||||||
10.75%, Due 2/1/2016 |
750 | 739 | ||||||
11.25%, Due 6/1/2017 |
1,000 | 1,139 | ||||||
Calumet Specialty Products Partners LP/Calumet Finance Corp., 9.375%, Due 5/1/2019C |
310 | 324 | ||||||
CCH II LLC / CCH II Capital Corp., 13.50%, Due 11/30/2016 |
400 | 483 | ||||||
CCO Holdings LLC / CCO Holdings Capital Corp., 7.25%, Due 10/30/2017 |
300 | 320 | ||||||
CDW LLC / CDW Finance Corp., |
||||||||
11.50%, Due 10/12/2015E |
214 | 233 | ||||||
8.50%, Due 4/1/2019C |
500 | 505 | ||||||
CEDC Finance Corp International, Inc., 9.125%, Due 12/1/2016C |
950 | 918 | ||||||
Cemex SAB de CV, 9.00%, Due 1/11/2018C |
500 | 518 | ||||||
Cengage Learning Acquisitions, Inc., 10.50%, Due 1/15/2015C |
625 | 642 | ||||||
Central Garden and Pet Co., 8.25%, Due 3/1/2018 |
445 | 469 | ||||||
Cenveo Corp., 8.875%, Due 2/1/2018 |
475 | 477 | ||||||
CEVA Group plc, |
||||||||
11.625%, Due 10/1/2016C |
100 | 111 | ||||||
8.375%, Due 12/1/2017C |
100 | 104 | ||||||
11.50%, Due 4/1/2018C |
500 | 546 | ||||||
Chaparral Energy, Inc., |
||||||||
9.875%, Due 10/1/2020C |
600 | 678 | ||||||
8.25%, Due 9/1/2021C |
500 | 529 | ||||||
CHC Helicopter S.A., 9.25%, Due 10/15/2020C |
940 | 920 | ||||||
Chesapeake Energy Corp., |
||||||||
6.625%, Due 8/15/2020 |
900 | 969 | ||||||
6.125%, Due 2/15/2021 |
100 | 103 | ||||||
Citadel Broadcasting Corp., 7.75%, Due 12/15/2018C |
300 | 325 | ||||||
Clayton Williams Energy, Inc., 7.75%, Due 4/1/2019C |
690 | 692 | ||||||
Clear Channel Communications, Inc., 9.00%, Due 3/1/2021C |
900 | 915 | ||||||
Clearwire Communications LLC/Clearwire Finance, Inc., 12.00%, Due 12/1/2017C |
410 | 444 | ||||||
ClubCorp Club Operations, Inc., 10.00%, Due 12/1/2018C |
500 | 511 | ||||||
CMA CGM S.A., 8.50%, Due 4/15/2017C |
280 | 276 |
16
Par Amount | Value | |||||||
($000) | ($000) | |||||||
Coffeyville Resources LLC / Coffeyville Finance, Inc., 10.875%, Due 4/1/2017C |
$ | 560 | $ | 638 | ||||
Colt Defense LLC / Colt Finance Corp., 8.75%, Due 11/15/2017C |
730 | 610 | ||||||
CommScope, Inc., 8.25%, Due 1/15/2019C |
300 | 316 | ||||||
Community Health Systems, Inc., 8.875%, Due 7/15/2015 |
200 | 205 | ||||||
Consol Energy, Inc., |
||||||||
8.00%, Due 4/1/2017 |
770 | 851 | ||||||
8.25%, Due 4/1/2020 |
365 | 407 | ||||||
CRC Health Corp., 10.75%, Due 2/1/2016 |
675 | 689 | ||||||
Cricket Communications, Inc., 7.75%, Due 10/15/2020 |
1,030 | 1,051 | ||||||
Cumulus Media, Inc., 7.75%, Due 5/1/2019C |
100 | 100 | ||||||
Dave & Busters, Inc., 11.00%, Due 6/1/2018 |
600 | 656 | ||||||
Dean Foods Co., 9.75%, Due 12/15/2018C |
600 | 623 | ||||||
Digicel Group Ltd., 9.125%, Due 1/15/2015C |
475 | 494 | ||||||
DISH DBS Corp., 7.125%, Due 2/1/2016 |
1,100 | 1,171 | ||||||
DJO Finance LLC / DJO Finance Corp., 7.75%, Due 4/15/2018C |
100 | 103 | ||||||
DynCorp International, Inc., 10.375%, Due 7/1/2017C |
980 | 1,048 | ||||||
eAccess Ltd., 8.25%, Due 4/1/2018C |
400 | 406 | ||||||
Energy XXI Gulf Coast, Inc., 9.25%, Due 12/15/2017C |
1,105 | 1,203 | ||||||
EnergySolutions Inc / EnergySolutions LLC, 10.75%, Due 8/15/2018C |
575 | 638 | ||||||
Equinox Holdings, Inc., 9.50%, Due 2/1/2016C |
125 | 134 | ||||||
Euramax International, Inc., 9.50%, Due 4/1/2016C |
400 | 416 | ||||||
EVERTEC, Inc., 11.00%, Due 10/1/2018C |
600 | 647 | ||||||
Expro Finance Luxembourg SCA, 8.50%, Due 12/15/2016C |
800 | 782 | ||||||
FAGE Dairy Industry SA / FAGE USA Dairy Industry, Inc., 9.875%, Due 2/1/2020C |
815 | 823 | ||||||
First Data Corp., |
||||||||
9.875%, Due 9/24/2015 |
526 | 544 | ||||||
8.25%, Due 1/15/2021C |
224 | 223 | ||||||
12.625%, Due 1/15/2021C |
374 | 410 | ||||||
FMG Resources August 2006 Pty Ltd., |
||||||||
7.00%, Due 11/1/2015C |
300 | 317 | ||||||
6.875%, Due 2/1/2018C |
400 | 422 | ||||||
Ford Motor Credit Co LLC, |
||||||||
6.625%, Due 8/15/2017 |
600 | 661 | ||||||
5.00%, Due 5/15/2018 |
560 | 560 | ||||||
8.125%, Due 1/15/2020 |
900 | 1,068 | ||||||
Freescale Semiconductor, Inc., |
||||||||
8.875%, Due 12/15/2014 |
200 | 209 | ||||||
10.75%, Due 8/1/2020C |
500 | 575 | ||||||
Frontier Communications Corp., |
||||||||
8.25%, Due 4/15/2017 |
200 | 217 | ||||||
8.50%, Due 4/15/2020 |
300 | 325 | ||||||
8.75%, Due 4/15/2022 |
400 | 433 | ||||||
GCI, Inc., 8.625%, Due 11/15/2019 |
370 | 408 | ||||||
Giant Funding Corp., 8.25%, Due 2/1/2018C |
300 | 311 | ||||||
Goodrich Petroleum Corp., 8.875%, Due 3/15/2019C |
500 | 505 | ||||||
HCA Holdings, Inc., 7.75%, Due 5/15/2021C |
200 | 209 | ||||||
HCA, Inc., 9.625%, Due 11/15/2016E |
1,200 | 1,288 | ||||||
Helix Energy Solutions Group, Inc., 9.50%, Due 1/15/2016C |
330 | 350 | ||||||
Hilcorp Energy I LP/Hilcorp Finance Co., 8.00%, Due 2/15/2020C |
500 | 536 | ||||||
Hyva Global BV, 8.625%, Due 3/24/2016C |
200 | 206 | ||||||
IASIS Healthcare LLC / IASIS Capital Corp., 8.375%, Due 5/15/2019C |
375 | 381 | ||||||
Ineos Finance plc, 9.00%, Due 5/15/2015C |
200 | 219 | ||||||
Ineos Group Holdings plc, 8.50%, Due 2/15/2016C |
600 | 621 | ||||||
Intelsat Jackson Holdings S.A., |
||||||||
11.25%, Due 6/15/2016 |
600 | 638 | ||||||
7.25%, Due 10/15/2020C |
100 | 101 | ||||||
7.50%, Due 4/1/2021C |
500 | 508 | ||||||
Intelsat Luxembourg S.A., 11.25%, Due 2/4/2017 |
625 | 682 | ||||||
International Coal Group, Inc., 9.125%, Due 4/1/2018 |
430 | 487 | ||||||
inVentiv Health, Inc., 10.00%, Due 8/15/2018C |
625 | 666 | ||||||
Jarden Corp., |
||||||||
7.50%, Due 5/1/2017 |
700 | 752 | ||||||
6.125%, Due 11/15/2022 |
100 | 100 |
17
Par Amount | Value | |||||||
($000) | ($000) | |||||||
JBS Finance II Ltd., 8.25%, Due 1/29/2018C |
$ | 165 | $ | 171 | ||||
JBS USA LLC/JBS USA Finance, Inc., 11.625%, Due 5/1/2014 |
375 | 439 | ||||||
Kabel BW Erste Beteiligungs GmbH / Kabel Baden-Wurttemberg GmbH & Co KG, 7.50%, Due
3/15/2019C |
650 | 666 | ||||||
Key Energy Services, Inc., 6.75%, Due 3/1/2021 |
520 | 534 | ||||||
Liberty Tire Recycling, 11.00%, Due 10/1/2016C |
425 | 476 | ||||||
Linn Energy LLC/Linn Energy Finance Corp., |
||||||||
8.625%, Due 4/15/2020 |
700 | 774 | ||||||
7.75%, Due 2/1/2021C |
670 | 718 | ||||||
M/I Homes, Inc., 8.625%, Due 11/15/2018C |
500 | 498 | ||||||
MacDermid, Inc., 9.50%, Due 4/15/2017C |
1,125 | 1,197 | ||||||
Mandalay Resort Group, 7.625%, Due 7/15/2013 |
500 | 503 | ||||||
Marina District Finance Co, Inc., 9.875%, Due 8/15/2018C |
300 | 322 | ||||||
MedAssets, Inc., 8.00%, Due 11/15/2018C |
300 | 308 | ||||||
Media General, Inc., 11.75%, Due 2/15/2017 |
300 | 305 | ||||||
Meritor, Inc., 10.625%, Due 3/15/2018 |
500 | 566 | ||||||
MetroPCS Wireless, Inc., 7.875%, Due 9/1/2018 |
400 | 431 | ||||||
MGM Resorts International, 6.625%, Due 7/15/2015 |
1,000 | 963 | ||||||
Michaels Stores, Inc., 7.75%, Due 11/1/2018C |
600 | 620 | ||||||
Midwest Gaming Borrower LLC / Midwest Finance Corp., 11.625%, Due 4/15/2016C |
625 | 669 | ||||||
Midwest Vanadium Pty Ltd., 11.50%, Due 2/15/2018C |
415 | 431 | ||||||
Momentive Performance Materials, Inc., 9.00%, Due 1/15/2021C |
465 | 501 | ||||||
Mylan, Inc., 7.875%, Due 7/15/2020C |
700 | 774 | ||||||
Nalco Co., 6.625%, Due 1/15/2019C |
465 | 479 | ||||||
NBTY, Inc., 9.00%, Due 10/1/2018C |
225 | 245 | ||||||
NCL Corp Ltd., |
||||||||
11.75%, Due 11/15/2016 |
400 | 469 | ||||||
9.50%, Due 11/15/2018C |
200 | 213 | ||||||
NES Rentals Holdings, Inc., 12.25%, Due 4/15/2015C |
300 | 300 | ||||||
NewPage Corp., 11.375%, Due 12/31/2014 |
700 | 697 | ||||||
NII Capital Corp., 7.625%, Due 4/1/2021 |
310 | 328 | ||||||
Norske Skogindustrier ASA, 6.125%, Due 10/15/2015C |
1,100 | 968 | ||||||
Nortek, Inc., 8.50%, Due 4/15/2021C |
95 | 95 | ||||||
Novasep Holding SAS, 9.75%, Due 12/15/2016C |
280 | 158 | ||||||
Novelis, Inc., 8.75%, Due 12/15/2020 |
400 | 447 | ||||||
NPC International, Inc., 9.50%, Due 5/1/2014 |
625 | 638 | ||||||
NXP BV / NXP Funding LLC, 9.75%, Due 8/1/2018C |
300 | 347 | ||||||
OnCure Holdings, Inc., 11.75%, Due 5/15/2017 |
650 | 676 | ||||||
OPTI Canada, Inc., |
||||||||
9.00%, Due 12/15/2012C |
100 | 101 | ||||||
9.75%, Due 8/15/2013C |
300 | 303 | ||||||
8.25%, Due 12/15/2014 |
645 | 343 | ||||||
Oshkosh Corp., 8.50%, Due 3/1/2020 |
410 | 457 | ||||||
Packaging Dynamics Corp., 8.75%, Due 2/1/2016C |
200 | 207 | ||||||
Peabody Energy Corp., 7.375%, Due 11/1/2016 |
800 | 902 | ||||||
Petco Animal Supplies, Inc., 9.25%, Due 12/1/2018C |
990 | 1,068 | ||||||
Petrohawk Energy Corp., 10.50%, Due 8/1/2014 |
700 | 802 | ||||||
PharmaNet Development Group, Inc., 10.875%, Due 4/15/2017C |
300 | 332 | ||||||
Pilgrims Pride Corp., 7.875%, Due 12/15/2018C |
425 | 398 | ||||||
Pinnacle Entertainment, Inc., 7.50%, Due 6/15/2015 |
800 | 816 | ||||||
Pinnacle Foods Finance LLC / Pinnacle Foods Finance Corp., |
||||||||
9.25%, Due 4/1/2015 |
800 | 836 | ||||||
10.625%, Due 4/1/2017 |
400 | 430 | ||||||
Pittsburgh Glass Works LLC, 8.50%, Due 4/15/2016C |
970 | 1,013 | ||||||
Plains Exploration & Production Co., |
||||||||
10.00%, Due 3/1/2016 |
800 | 904 | ||||||
6.625%, Due 5/1/2021 |
210 | 211 | ||||||
Pokagon Gaming Authority, 10.375%, Due 6/15/2014C |
600 | 619 | ||||||
Prestige Brands, Inc., 8.25%, Due 4/1/2018 |
630 | 673 | ||||||
Quicksilver Resources, Inc., |
||||||||
8.25%, Due 8/1/2015 |
300 | 318 | ||||||
9.125%, Due 8/15/2019 |
500 | 549 | ||||||
Quiksilver, Inc., 6.875%, Due 4/15/2015 |
405 | 399 |
18
Par Amount | Value | |||||||
($000) | ($000) | |||||||
QVC, Inc., 7.50%, Due 10/1/2019C |
$ | 320 | $ | 340 | ||||
RBS Global Inc / Rexnord LLC, 8.50%, Due 5/1/2018 |
800 | 868 | ||||||
Regal Cinemas Corp., 8.625%, Due 7/15/2019 |
350 | 377 | ||||||
Reliance Intermediate Holdings LP, 9.50%, Due 12/15/2019C |
610 | 673 | ||||||
Reynolds Group Issuer Inc / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu, |
||||||||
8.50%, Due 5/15/2018C |
900 | 926 | ||||||
9.00%, Due 4/15/2019C |
450 | 474 | ||||||
8.25%, Due 2/15/2021C |
100 | 102 | ||||||
Rite Aid Corp., |
||||||||
9.75%, Due 6/12/2016 |
1,255 | 1,412 | ||||||
8.00%, Due 8/15/2020 |
100 | 108 | ||||||
Rotech Healthcare, Inc., 10.50%, Due 3/15/2018C |
375 | 380 | ||||||
Ryerson, Inc., 12.00%, Due 11/1/2015 |
295 | 319 | ||||||
SandRidge Energy, Inc., |
||||||||
8.00%, Due 6/1/2018C |
800 | 846 | ||||||
7.50%, Due 3/15/2021C |
415 | 437 | ||||||
Shingle Springs Tribal Gaming Authority, 9.375%, Due 6/15/2015C |
400 | 280 | ||||||
Simmons Foods, Inc., 10.50%, Due 11/1/2017C |
500 | 539 | ||||||
Sitel LLC / Sitel Finance Corp., 11.50%, Due 4/1/2018 |
400 | 377 | ||||||
Smurfit Kappa Treasury Funding Ltd., 7.50%, Due 11/20/2025 |
900 | 875 | ||||||
Solo Cup Co., 8.50%, Due 2/15/2014 |
300 | 263 | ||||||
Spectrum Brands Holdings, Inc., 9.50%, Due 6/15/2018C |
325 | 363 | ||||||
Sprint Capital Corp., 8.75%, Due 3/15/2032 |
780 | 854 | ||||||
Sprint Nextel Corp., 8.375%, Due 8/15/2017 |
800 | 897 | ||||||
Station Casinos, Inc., |
||||||||
6.875%, Due 3/1/2016F |
500 | 0 | ||||||
7.75%, Due 8/15/2016F |
500 | 0 | ||||||
SunGard Data Systems, Inc., |
||||||||
10.25%, Due 8/15/2015 |
100 | 105 | ||||||
7.625%, Due 11/15/2020C |
600 | 626 | ||||||
Telesat Canada / Telesat LLC, 12.50%, Due 11/1/2017 |
500 | 595 | ||||||
The Goodyear Tire & Rubber Co, 8.25%, Due 8/15/2020 |
800 | 889 | ||||||
The Hertz Corp, |
||||||||
7.50%, Due 10/15/2018C |
400 | 420 | ||||||
6.75%, Due 4/15/2019C |
400 | 408 | ||||||
The Manitowoc Co Inc, |
||||||||
9.50%, Due 2/15/2018 |
600 | 672 | ||||||
8.50%, Due 11/1/2020 |
100 | 110 | ||||||
Ticketmaster Entertainment LLC / Ticketmaster Noteco, Inc., 10.75%, Due 8/1/2016. |
700 | 766 | ||||||
Titan International, Inc., 7.875%, Due 10/1/2017C |
440 | 473 | ||||||
Trans Union LLC/TransUnion Financing Corp., 11.375%, Due 6/15/2018 |
300 | 347 | ||||||
Trimas Corp., 9.75%, Due 12/15/2017 |
200 | 220 | ||||||
Tutor Perini Corp., 7.625%, Due 11/1/2018C |
440 | 449 | ||||||
tw telecom holdings, Inc., 8.00%, Due 3/1/2018 |
325 | 353 | ||||||
Uncle Acquisition 2010 Corp., 8.625%, Due 2/15/2019C |
450 | 478 | ||||||
United Rentals North America, Inc., 8.375%, Due 9/15/2020 |
520 | 554 | ||||||
United Surgical Partners International, Inc., 9.25%, Due 5/1/2017E |
700 | 741 | ||||||
Univision Communications, Inc., |
||||||||
6.875%, Due 5/15/2019C |
475 | 477 | ||||||
7.875%, Due 11/1/2020C |
500 | 533 | ||||||
Virgolino de Oliveira Finance Ltd., 10.50%, Due 1/28/2018C |
400 | 431 | ||||||
Visant Corp., 10.00%, Due 10/1/2017 |
1,220 | 1,317 | ||||||
WCA Waste Corp., 9.25%, Due 6/15/2014 |
800 | 822 | ||||||
West Corp., 7.875%, Due 1/15/2019C |
800 | 824 | ||||||
Wind Acquisition Finance S.A., |
||||||||
11.75%, Due 7/15/2017C E |
475 | 552 | ||||||
7.25%, Due 2/15/2018C |
325 | 344 | ||||||
Wind Acquisition Holdings Finance S.A., 12.25%, Due 7/15/2017C |
227 | 280 | ||||||
WMG Acquisition Corp., 9.50%, Due 6/15/2016 |
800 | 852 | ||||||
Yonkers Racing Corp., 11.375%, Due 7/15/2016C |
750 | 825 | ||||||
108,956 | ||||||||
Utilities - 6.96% |
19
Par Amount | Value | |||||||
($000) | ($000) | |||||||
Calpine Corp., |
||||||||
7.875%, Due 7/31/2020C |
$ | 200 | $ | 216 | ||||
7.50%, Due 2/15/2021C |
600 | 635 | ||||||
Copano Energy LLC / Copano Energy Finance Corp., 7.125%, Due 4/1/2021 |
200 | 205 | ||||||
Crosstex Energy LP / Crosstex Energy Finance Corp., 8.875%, Due 2/15/2018 |
500 | 546 | ||||||
Dynegy Holdings, Inc., 8.375%, Due 5/1/2016 |
300 | 260 | ||||||
El Paso Corp., 7.00%, Due 6/15/2017 |
800 | 887 | ||||||
Elwood Energy LLC, 8.159%, Due 7/5/2026 |
631 | 614 | ||||||
Energy Future Holdings Corp., 5.55%, Due 11/15/2014 |
410 | 359 | ||||||
Energy Future Intermediate Holding Co LLC / EFIH Finance, Inc., 10.00%, Due 12/1/2020 |
308 | 331 | ||||||
Energy Transfer Equity LP, 7.50%, Due 10/15/2020 |
275 | 301 | ||||||
Enterprise Products Operating LLC, 7.034%, Due 1/15/2068 |
1,210 | 1,276 | ||||||
Genesis Energy LP/Genesis Energy Finance Corp., 7.875%, Due 12/15/2018C |
435 | 442 | ||||||
Inergy LP/Inergy Finance Corp., 7.00%, Due 10/1/2018C |
410 | 433 | ||||||
MarkWest Energy Partners LP / MarkWest Energy Finance Corp., 6.75%, Due 11/1/2020 |
500 | 516 | ||||||
Martin Midstream Partners LP / Martin Midstream Finance Corp., 8.875%, Due 4/1/2018 |
820 | 877 | ||||||
Regency Energy Partners LP/Regency Energy Finance Corp., |
||||||||
9.375%, Due 6/1/2016 |
475 | 540 | ||||||
6.875%, Due 12/1/2018 |
45 | 48 | ||||||
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 6.875%, Due 2/1/2021C |
440 | 438 | ||||||
Texas Competitive Electric Holdings Co LLC / TCEH Finance, Inc., |
||||||||
10.25%, Due 11/1/2015 |
300 | 194 | ||||||
11.50%, Due 10/1/2020C |
400 | 411 | ||||||
15.00%, Due 4/1/2021C |
400 | 354 | ||||||
The AES Corp, 9.75%, Due 4/15/2016 |
50 | 58 | ||||||
9,941 | ||||||||
Total Corporate Obligations (Cost $126,026) |
134,188 | |||||||
CONVERTIBLE OBLIGATIONS - 0.88% |
||||||||
Finance - 0.26% |
||||||||
E*Trade Financial Corp., %, Due 8/31/2019 |
240 | 377 | ||||||
Hotels, Restaurants & Leisure - 0.62% |
||||||||
Horizon Lines, Inc., 4.25%, Due 8/15/2012 |
1,025 | 875 | ||||||
Total Convertible Obligations (Cost $1,080) |
1,252 | |||||||
Shares | ||||||||
SHORT-TERM INVESTMENTS - 3.05% (Cost $4,361) |
||||||||
JPMorgan U.S. Government Money Market Fund |
4,361,232 | 4,361 | ||||||
TOTAL INVESTMENTS - 98.86% (Cost $134,473) |
141,172 | |||||||
OTHER ASSETS, NET OF LIABILITIES - 1.14% |
1,632 | |||||||
TOTAL NET ASSETS - 100.00% |
$ | 142,804 | ||||||
Percentages are stated as a percent of net assets. |
A | Non-income producing security. | |
B | Warrant | |
C | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $68,470 or 47.95% of net assets. The Fund has no right to demand registration of these securities. | |
D | The coupon rate shown on floating or adjustable rate securities represents the rate at period end. The due date on these types of securities reflects the final maturity date. | |
E | Is Payment in Kind. | |
F | Non-income producing, issuer is in default. |
20
Value | ||||||||
Shares | ($000) | |||||||
COMMON STOCKS - 5.93% |
||||||||
COMMINGLED FUND- 0.28% |
||||||||
Commingled Fund - 0.28% |
||||||||
MetLife, Inc. |
4,800 | $ | 420 | |||||
ENERGY- 1.62% |
||||||||
Energy Equipment & Services - 1.04% |
||||||||
Baker Hughes, Inc. |
5,500 | 426 | ||||||
Helmerich & Payne, Inc. |
8,000 | 530 | ||||||
Noble Corp. |
9,500 | 409 | ||||||
Superior Energy Services, Inc.A |
5,500 | 211 | ||||||
1,576 | ||||||||
Oil & Gas - 0.58% |
||||||||
Occidental Petroleum Corp. |
3,800 | 434 | ||||||
Suncor Energy, Inc. |
9,500 | 438 | ||||||
872 | ||||||||
FINANCIALS- 0.60% |
||||||||
Diversified Financials - 0.60% |
||||||||
Affiliated Managers Group, Inc.A |
3,700 | 404 | ||||||
T Rowe Price Group, Inc. |
7,700 | 494 | ||||||
HEALTH CARE- 0.28% |
||||||||
Health Care Equipment & Supplies - 0.28% |
||||||||
Covidien plc |
7,500 | 418 | ||||||
INDUSTRIALS- 0.72% |
||||||||
Aerospace & Defense - 0.13% |
||||||||
United Technologies Corp. |
2,150 | 193 | ||||||
Industrial Conglomerates - 0.31% |
||||||||
Siemens AGB |
3,250 | 473 | ||||||
Machinery - 0.28% |
||||||||
Eaton Corp. |
7,800 | 418 | ||||||
INFORMATION TECHNOLOGY- 2.07% |
||||||||
Communications Equipment - 0.20% |
||||||||
Cisco Systems, Inc. |
17,000 | 299 | ||||||
IT Consulting & Services - 0.29% |
||||||||
Accenture plc |
7,770 | 444 | ||||||
Semiconductor Equipment & Products - 0.69% |
||||||||
Applied Materials, Inc. |
28,000 | 439 | ||||||
QUALCOMM, Inc. |
10,600 | 603 | ||||||
1,042 | ||||||||
Software - 0.89% |
||||||||
Autodesk, Inc. |
9,500 | 427 | ||||||
Microsoft Corp. |
12,000 | 312 | ||||||
Oracle Corp. |
17,000 | 613 | ||||||
1,352 | ||||||||
MATERIALS- 0.36% |
||||||||
Metals & Mining - 0.36% |
||||||||
Barrick Gold Corp. |
10,700 | 546 | ||||||
Total Common Stocks (Cost $7,857) |
8,951 | |||||||
CONVERTIBLE PREFERRED STOCKS - 0.65% |
||||||||
CONSUMER STAPLES- 0.44% |
||||||||
Food Products - 0.44% |
||||||||
Bunge Ltd. |
6,058 | 651 | ||||||
FINANCIALS- 0.21% |
||||||||
Diversified Financials - 0.21% |
||||||||
Wells Fargo & Co. |
300 | 324 | ||||||
Total Convertible Preferred Stocks (Cost $749) |
975 | |||||||
PREFERRED STOCKS - 1.41% |
||||||||
CONSUMER STAPLES- 0.48% |
||||||||
Food Products - 0.48% |
||||||||
Archer-Daniels-Midland Co. |
15,350 | 719 |
21
Value | ||||||||
Shares | ($000) | |||||||
ENERGY- 0.55% |
||||||||
Energy - 0.55% |
||||||||
Apache Corp. |
11,750 | $ | 826 | |||||
FINANCIALS- 0.38% |
||||||||
Diversified Financials - 0.38% |
||||||||
AMG Capital Trust I |
4,150 | 204 | ||||||
Vale Capital II |
4,000 | 374 | ||||||
Total Preferred Stocks (Cost $1,619) |
2,123 | |||||||
Par Amount | Value | |||||||
($000) | ($000) | |||||||
CORPORATE OBLIGATIONS - 33.54% |
||||||||
Finance - 15.73% |
||||||||
AEGON Funding Co., LLC, 5.75%, Due 12/15/2020 |
250 | 265 | ||||||
American Express Credit Corp., 2.75%, Due 9/15/2015 |
125 | 125 | ||||||
American International Group, Inc., 6.40%, Due 12/15/2020 |
575 | 629 | ||||||
ANZ National Intl Ltd/London, 2.375%, Due 12/21/2012C |
300 | 305 | ||||||
Bank of America Corp., |
||||||||
7.80%, Due 9/15/2016 |
600 | 692 | ||||||
7.625%, Due 6/1/2019 |
875 | 1,032 | ||||||
Bank One Corp., 4.90%, Due 4/30/2015 |
250 | 266 | ||||||
Barclays Bank plc, |
||||||||
3.90%, Due 4/7/2015 |
290 | 304 | ||||||
6.75%, Due 5/22/2019 |
300 | 343 | ||||||
BNP Paribas, 3.60%, Due 2/23/2016 |
280 | 285 | ||||||
Citigroup, Inc., |
||||||||
1.235%, Due 4/1/2014D |
300 | 300 | ||||||
0.591%, Due 11/5/2014D |
300 | 292 | ||||||
6.125%, Due 11/21/2017 |
275 | 305 | ||||||
8.50%, Due 5/22/2019 |
750 | 934 | ||||||
CME Group, Inc., 5.40%, Due 8/1/2013 |
230 | 251 | ||||||
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands, 4.20%, Due 5/13/2014C |
200 | 214 | ||||||
Credit Suisse/New York NY, 5.30%, Due 8/13/2019 |
250 | 268 | ||||||
Danske Bank A/S, 1.331%, Due 4/14/2014C D |
600 | 600 | ||||||
Deutsche Bank AG/London, 3.875%, Due 8/18/2014 |
275 | 289 | ||||||
Fifth Third Bancorp, 3.625%, Due 1/25/2016 |
275 | 279 | ||||||
General Electric Capital Corp., |
||||||||
0.493%, Due 1/8/2016D |
1,033 | 1,001 | ||||||
5.625%, Due 5/1/2018 |
250 | 274 | ||||||
6.00%, Due 8/7/2019 |
300 | 334 | ||||||
5.50%, Due 1/8/2020 |
350 | 376 | ||||||
HSBC Finance Corp., 0.528%, Due 1/15/2014D |
850 | 838 | ||||||
ING Bank N.V., 5.125%, Due 5/1/2015C |
300 | 310 | ||||||
Janus Capital Group, Inc., 6.70%, Due 6/15/2017D |
125 | 137 | ||||||
JPMorgan Chase & Co., |
||||||||
3.70%, Due 1/20/2015 |
500 | 519 | ||||||
6.00%, Due 1/15/2018 |
175 | 195 | ||||||
5.50%, Due 10/15/2040 |
250 | 250 | ||||||
JPMorgan Chase Bank NA, 0.640%, Due 6/13/2016C D |
375 | 360 | ||||||
Leucadia National Corp., |
||||||||
8.125%, Due 9/15/2015 |
100 | 111 | ||||||
7.125%, Due 3/15/2017 |
192 | 202 | ||||||
Lincoln National Corp., 4.75%, Due 2/15/2014 |
105 | 111 | ||||||
Lloyds TSB Bank plc, 4.375%, Due 1/12/2015C |
300 | 310 | ||||||
Mellon Funding Corp., 0.463%, Due 5/15/2014D |
250 | 249 | ||||||
Merrill Lynch & Co, Inc., 6.11%, Due 1/29/2037 |
275 | 269 | ||||||
MetLife Institutional Funding II, 1.201%, Due 4/4/2014C D |
800 | 802 | ||||||
MetLife, Inc., 6.375%, Due 6/15/2034 |
250 | 277 | ||||||
Monumental Global Funding III, 0.478%, Due 1/15/2014C D |
300 | 290 | ||||||
Morgan Stanley, |
||||||||
0.758%, Due 10/15/2015D |
900 | 867 | ||||||
7.30%, Due 5/13/2019 |
280 | 321 |
22
Par Amount | Value | |||||||
($000) | ($000) | |||||||
5.625%, Due 9/23/2019 |
$ | 250 | $ | 260 | ||||
National Australia Bank Ltd., 4.375%, Due 12/10/2020C |
250 | 244 | ||||||
Nationwide Building Society, 5.50%, Due 7/18/2012C |
450 | 472 | ||||||
Nordea Bank AB, |
||||||||
2.50%, Due 11/13/2012C |
250 | 255 | ||||||
4.875%, Due 1/27/2020C |
250 | 259 | ||||||
PNC Funding Corp., 4.375%, Due 8/11/2020 |
260 | 262 | ||||||
Pricoa Global Funding I, 5.40%, Due 10/18/2012C |
150 | 159 | ||||||
Prudential Financial, Inc., 7.375%, Due 6/15/2019 |
250 | 298 | ||||||
Societe Generale, |
||||||||
2.20%, Due 9/14/2013C |
250 | 252 | ||||||
1.326%, Due 4/11/2014C D |
1,200 | 1,202 | ||||||
The Bear Stearns Cos., Inc., 7.25%, Due 2/1/2018 |
500 | 587 | ||||||
The Goldman Sachs Group, Inc., |
||||||||
5.35%, Due 1/15/2016 |
475 | 515 | ||||||
6.25%, Due 9/1/2017 |
550 | 612 | ||||||
6.00%, Due 6/15/2020 |
135 | 146 | ||||||
The Travelers Cos Inc, 3.90%, Due 11/1/2020 |
130 | 126 | ||||||
UBS AG/Stamford CT, 5.875%, Due 12/20/2017 |
275 | 307 | ||||||
Wachovia Corp., |
||||||||
0.648%, Due 10/15/2016D |
600 | 568 | ||||||
5.75%, Due 2/1/2018 |
475 | 530 | ||||||
Wells Fargo & Co., 5.625%, Due 12/11/2017 |
275 | 307 | ||||||
23,742 | ||||||||
Industrials - 15.71% |
||||||||
Advanced Micro Devices, Inc., |
||||||||
8.125%, Due 12/15/2017 |
130 | 137 | ||||||
7.75%, Due 8/1/2020 |
175 | 182 | ||||||
America Movil SAB de CV, 6.375%, Due 3/1/2035 |
275 | 299 | ||||||
American Axle & Manufacturing, Inc., 7.875%, Due 3/1/2017 |
272 | 279 | ||||||
American Honda Finance Corp., |
||||||||
4.625%, Due 4/2/2013C |
325 | 345 | ||||||
3.875%, Due 9/21/2020C |
125 | 122 | ||||||
Anheuser-Busch InBev Worldwide, Inc., |
||||||||
5.00%, Due 4/15/2020 |
290 | 311 | ||||||
8.00%, Due 11/15/2039 |
100 | 137 | ||||||
Apache Corp., 5.10%, Due 9/1/2040 |
130 | 125 | ||||||
AT&T, Inc., |
||||||||
5.625%, Due 6/15/2016 |
200 | 225 | ||||||
5.50%, Due 2/1/2018 |
400 | 441 | ||||||
6.80%, Due 5/15/2036 |
125 | 138 | ||||||
6.40%, Due 5/15/2038 |
125 | 133 | ||||||
Bio-Rad Laboratories, Inc., 8.00%, Due 9/15/2016 |
275 | 306 | ||||||
BP Capital Markets plc, 3.20%, Due 3/11/2016 |
280 | 282 | ||||||
Burlington Northern Santa Fe LLC, |
||||||||
5.75%, Due 3/15/2018 |
325 | 367 | ||||||
5.75%, Due 5/1/2040 |
140 | 144 | ||||||
Calfrac Holdings LP, 7.50%, Due 12/1/2020C |
375 | 393 | ||||||
Canadian National Railway Co., 5.55%, Due 5/15/2018 |
250 | 280 | ||||||
Canadian Natural Resources Ltd., 6.25%, Due 3/15/2038 |
275 | 303 | ||||||
Caterpillar Financial Services Corp., |
||||||||
1.90%, Due 12/17/2012 |
100 | 102 | ||||||
4.25%, Due 2/8/2013 |
250 | 265 | ||||||
2.75%, Due 6/24/2015 |
280 | 288 | ||||||
Cellco Partnership / Verizon Wireless Capital LLC, 3.75%, Due 5/20/2011 |
270 | 270 | ||||||
Coca-Cola Refreshments USA, Inc., 7.375%, Due 3/3/2014 |
150 | 175 | ||||||
Comcast Cable Communications Holdings, Inc., 8.375%, Due 3/15/2013 |
109 | 123 | ||||||
Comcast Corp., 6.55%, Due 7/1/2039 |
300 | 324 | ||||||
Comstock Resources, Inc., 8.375%, Due 10/15/2017 |
300 | 317 | ||||||
Concho Resources Inc/Midland TX, 8.625%, Due 10/1/2017 |
275 | 304 | ||||||
ConocoPhillips, |
||||||||
4.60%, Due 1/15/2015 |
200 | 220 |
23
Par Amount | Value | |||||||
($000) | ($000) | |||||||
5.20%, Due 5/15/2018 |
$ | 325 | $ | 362 | ||||
CSX Corp., 5.50%, Due 4/15/2041 |
250 | 246 | ||||||
CVS Caremark Corp., 3.25%, Due 5/18/2015 |
140 | 144 | ||||||
Daimler Finance North America LLC, |
||||||||
5.75%, Due 9/8/2011 |
250 | 254 | ||||||
3.00%, Due 3/28/2016C |
150 | 151 | ||||||
DISH DBS Corp., 7.875%, Due 9/1/2019 |
300 | 325 | ||||||
EOG Resources, Inc., 2.50%, Due 2/1/2016 |
250 | 247 | ||||||
Exide Technologies, 8.625%, Due 2/1/2018C |
350 | 375 | ||||||
France Telecom S.A., 2.125%, Due 9/16/2015 |
125 | 124 | ||||||
GlaxoSmithKline Capital, Inc., 5.65%, Due 5/15/2018 |
125 | 142 | ||||||
Hanesbrands, Inc., 8.00%, Due 12/15/2016 |
300 | 326 | ||||||
Hewlett-Packard Co., 2.20%, Due 12/1/2015 |
250 | 248 | ||||||
Holly Corp., 9.875%, Due 6/15/2017 |
140 | 158 | ||||||
Home Depot, Inc., 4.40%, Due 4/1/2021 |
300 | 302 | ||||||
iGate Corp., 9.00%, Due 5/1/2016C |
300 | 308 | ||||||
International Business Machines Corp., 7.625%, Due 10/15/2018 |
150 | 190 | ||||||
Jabil Circuit, Inc., 8.25%, Due 3/15/2018 |
325 | 373 | ||||||
Jarden Corp., |
||||||||
7.50%, Due 5/1/2017 |
30 | 32 | ||||||
7.50%, Due 1/15/2020 |
120 | 128 | ||||||
Johnson Controls, Inc., 5.00%, Due 3/30/2020 |
300 | 318 | ||||||
Kellogg Co., 4.25%, Due 3/6/2013 |
250 | 264 | ||||||
Liberty Media LLC, 8.25%, Due 2/1/2030 |
450 | 437 | ||||||
McKesson Corp., 3.25%, Due 3/1/2016 |
140 | 143 | ||||||
MEMC Electronic Materials, Inc., 7.75%, Due 4/1/2019C |
358 | 372 | ||||||
Norfolk Southern Corp., 5.75%, Due 4/1/2018 |
325 | 369 | ||||||
Northrop Grumman Corp., 5.05%, Due 8/1/2019 |
150 | 161 | ||||||
Oshkosh Corp., |
||||||||
8.25%, Due 3/1/2017 |
50 | 55 | ||||||
8.50%, Due 3/1/2020 |
125 | 139 | ||||||
Perry Ellis International, Inc., 7.875%, Due 4/1/2019 |
210 | 219 | ||||||
Petrobras International Finance Co. Pifco, 3.875%, Due 1/27/2016 |
200 | 203 | ||||||
Petroleos Mexicanos, 6.00%, Due 3/5/2020 |
300 | 321 | ||||||
Quest Diagnostics, Inc., 4.75%, Due 1/30/2020 |
125 | 128 | ||||||
Qwest Capital Funding, Inc., 7.75%, Due 2/15/2031 |
250 | 267 | ||||||
Royal Caribbean Cruises Ltd., 7.50%, Due 10/15/2027 |
500 | 500 | ||||||
Seagate HDD Cayman, 6.875%, Due 5/1/2020C |
350 | 355 | ||||||
Service Corp International, 7.00%, Due 5/15/2019 |
225 | 239 | ||||||
SESI LLC, 6.875%, Due 6/1/2014 |
435 | 444 | ||||||
Shell International Finance BV, 3.10%, Due 6/28/2015 |
280 | 290 | ||||||
Simon Property Group LP, 10.35%, Due 4/1/2019 |
300 | 417 | ||||||
Spirit Aerosystems, Inc., 7.50%, Due 10/1/2017 |
450 | 489 | ||||||
Swift Energy Co., 7.125%, Due 6/1/2017 |
375 | 384 | ||||||
Telefonica Emisiones SAU, 6.421%, Due 6/20/2016 |
300 | 338 | ||||||
Terex Corp., 8.00%, Due 11/15/2017 |
125 | 132 | ||||||
The Boeing Co, 1.875%, Due 11/20/2012 |
250 | 255 | ||||||
Thomson Reuters Corp., 4.70%, Due 10/15/2019 |
125 | 133 | ||||||
Time Warner Cable, Inc., 5.85%, Due 5/1/2017 |
300 | 334 | ||||||
Time Warner, Inc., |
||||||||
4.875%, Due 3/15/2020 |
150 | 155 | ||||||
4.75%, Due 3/29/2021 |
325 | 331 | ||||||
Triumph Group, Inc., 8.00%, Due 11/15/2017 |
300 | 320 | ||||||
Tyco International Finance S.A., 3.75%, Due 1/15/2018 |
275 | 276 | ||||||
Union Pacific Corp., 7.875%, Due 1/15/2019 |
300 | 380 | ||||||
United Technologies Corp., 6.125%, Due 7/15/2038 |
165 | 186 | ||||||
UnitedHealth Group, Inc., 3.875%, Due 10/15/2020 |
250 | 243 | ||||||
Verizon Communications, Inc., |
||||||||
5.50%, Due 4/1/2017 |
250 | 281 | ||||||
4.60%, Due 4/1/2021 |
340 | 347 | ||||||
6.90%, Due 4/15/2038 |
325 | 372 | ||||||
Vodafone Group plc, 6.15%, Due 2/27/2037 |
275 | 300 | ||||||
Wal-Mart Stores, Inc., 7.55%, Due 2/15/2030 |
250 | 322 |
24
Par Amount | Value | |||||||
($000) | ($000) | |||||||
WESCO Distribution, Inc., 7.50%, Due 10/15/2017 |
$ | 450 | $ | 466 | ||||
Xerox Corp., |
||||||||
5.65%, Due 5/15/2013 |
75 | 81 | ||||||
8.25%, Due 5/15/2014 |
150 | 176 | ||||||
23,714 | ||||||||
Other Government - 0.38% |
||||||||
Province of Ontario Canada, |
||||||||
4.10%, Due 6/16/2014 |
300 | 324 | ||||||
3.15%, Due 12/15/2017 |
250 | 253 | ||||||
577 | ||||||||
Utilities - 1.72% |
||||||||
Commonwealth Edison Co., 4.00%, Due 8/1/2020 |
135 | 132 | ||||||
Consolidated Edison Co of New York, Inc., 5.50%, Due 12/1/2039 |
300 | 308 | ||||||
Duke Energy Carolinas LLC, 5.10%, Due 4/15/2018 |
250 | 275 | ||||||
EDF S.A., 4.60%, Due 1/27/2020C |
300 | 310 | ||||||
FirstEnergy Solutions Corp., 4.80%, Due 2/15/2015 |
150 | 159 | ||||||
Midamerican Energy Holdings Co., 6.125%, Due 4/1/2036 |
275 | 295 | ||||||
Pacific Gas & Electric Co., |
||||||||
6.25%, Due 12/1/2013 |
175 | 194 | ||||||
3.50%, Due 10/1/2020 |
250 | 235 | ||||||
Progress Energy, Inc., 4.875%, Due 12/1/2019 |
250 | 264 | ||||||
TransCanada PipeLines Ltd., 6.10%, Due 6/1/2040 |
140 | 150 | ||||||
Virginia Electric and Power Co., 5.40%, Due 4/30/2018 |
250 | 277 | ||||||
2,599 | ||||||||
Total Corporate Obligations (Cost $47,892) |
50,632 | |||||||
CONVERTIBLE OBLIGATIONS - 12.93% |
||||||||
Basic Materials - 0.84% |
||||||||
Goldcorp, Inc., 2.00%, Due 8/1/2014 |
225 | 300 | ||||||
Newmont Mining Corp., |
||||||||
3.00%, Due 2/15/2012 |
50 | 65 | ||||||
1.25%, Due 7/15/2014 |
425 | 585 | ||||||
1.625%, Due 7/15/2017 |
220 | 311 | ||||||
1,261 | ||||||||
Communications - 1.74% |
||||||||
Anixter International, Inc., 1.00%, Due 2/15/2013 |
610 | 805 | ||||||
Omnicom Group, Inc., 0.000%, Due 7/1/2038 |
400 | 446 | ||||||
priceline.com, Inc., 1.25%, Due 3/15/2015C |
300 | 561 | ||||||
Symantec Corp., 1.00%, Due 6/15/2013 |
660 | 814 | ||||||
2,626 | ||||||||
Convertible Obligations - 1.82% |
||||||||
Chesapeake Energy Corp., 2.75%, Due 11/15/2035 |
700 | 815 | ||||||
General Cable Corp., 0.875%, Due 11/15/2013 |
400 | 462 | ||||||
Illumina, Inc., 0.25%, Due 3/15/2016C |
775 | 798 | ||||||
Rovi Corp., 2.625%, Due 2/15/2040 |
99 | 122 | ||||||
SYNNEX Corp., 4.00%, Due 5/15/2018 |
275 | 359 | ||||||
Xilinx, Inc., 3.125%, Due 3/15/2037 |
150 | 184 | ||||||
2,740 | ||||||||
Energy - 0.12% |
||||||||
SESI LLC, 1.50%, Due 12/15/2026 |
175 | 182 | ||||||
Finance - 0.56% |
||||||||
Janus Capital Group, Inc., 3.25%, Due 7/15/2014 |
340 | 408 | ||||||
Leucadia National Corp., 3.75%, Due 4/15/2014 |
250 | 444 | ||||||
852 | ||||||||
Health Care - 0.23% |
||||||||
LifePoint Hospitals, Inc., 3.50%, Due 5/15/2014 |
325 | 350 | ||||||
Industrials - 2.41% |
||||||||
Alpha Natural Resources, Inc., 2.375%, Due 4/15/2015 |
300 | 398 | ||||||
Danaher Corp., 0.01%, Due 1/22/2021 |
370 | 591 | ||||||
Hologic, Inc., 2.00%, Due 12/15/2037D |
660 | 796 | ||||||
Molson Coors Brewing Co., 2.50%, Due 7/30/2013 |
150 | 172 | ||||||
ON Semiconductor Corp., 2.625%, Due 12/15/2026 |
300 | 368 |
25
Par Amount | Value | |||||||
($000) | ($000) | |||||||
Stanley Black & Decker, Inc., 0.01%, Due 5/17/2012D |
$ | 275 | $ | 332 | ||||
The Interpublic Group of Cos Inc, |
||||||||
4.25%, Due 3/15/2023 |
425 | 478 | ||||||
4.75%, Due 3/15/2023 |
90 | 111 | ||||||
Tyson Foods, Inc., 3.25%, Due 10/15/2013 |
300 | 398 | ||||||
3,644 | ||||||||
Pharmaceuticals - 1.63% |
||||||||
Endo Pharmaceuticals Holdings, Inc., 1.75%, Due 4/15/2015 |
250 | 358 | ||||||
Gilead Sciences, Inc., 1.625%, Due 5/1/2016C |
625 | 696 | ||||||
Life Technologies Corp., 1.50%, Due 2/15/2024 |
246 | 289 | ||||||
Mylan, Inc., 1.25%, Due 3/15/2012 |
705 | 806 | ||||||
Salix Pharmaceuticals Ltd., 2.75%, Due 5/15/2015 |
275 | 314 | ||||||
2,463 | ||||||||
Technology - 3.58% |
||||||||
CACI International, Inc., 2.125%, Due 5/1/2014 |
230 | 288 | ||||||
EMC Corp/Massachusetts, 1.75%, Due 12/1/2013 |
900 | 1,623 | ||||||
Intel Corp., 3.25%, Due 8/1/2039C |
500 | 636 | ||||||
Linear Technology Corp., 3.00%, Due 5/1/2027 |
295 | 319 | ||||||
Microsoft Corp., %, Due 6/15/2013C |
300 | 313 | ||||||
Navistar International Corp., 3.00%, Due 10/15/2014 |
300 | 456 | ||||||
SanDisk Corp., |
||||||||
1.00%, Due 5/15/2013 |
375 | 368 | ||||||
1.50%, Due 8/15/2017 |
625 | 724 | ||||||
Xilinx, Inc., 2.625%, Due 6/15/2017C |
525 | 681 | ||||||
5,408 | ||||||||
Total Convertible Obligations (Cost $16,411) |
19,526 | |||||||
ASSET-BACKED SECURITIES - 3.11% |
||||||||
American Express Credit Account Master Trust, 5.35%, Due 1/15/2014, 2006-2 A |
1,050 | 1,056 | ||||||
BMW Floorplan Master Owner Trust, 1.369%, Due 9/15/2014, 2009-1A AC D |
250 | 252 | ||||||
Capital One Multi-Asset Execution Trust, 5.15%, Due 6/15/2014, 2006-A10 A10 |
800 | 810 | ||||||
Citibank Credit Card Issuance Trust, 1.769%, Due 5/15/2014, 2009-A2 A2D |
600 | 609 | ||||||
Discover Card Master Trust, 1.519%, Due 2/17/2015, 2009-A2 AD |
200 | 203 | ||||||
Ford Credit Auto Lease Trust, 1.04%, Due 3/15/2013, 2010-A A2C |
215 | 216 | ||||||
Ford Credit Floorplan Master Owner Trust, 1.769%, Due 9/15/2014, 2009-2 AD |
250 | 254 | ||||||
Harley-Davidson Motorcycle Trust, 1.87%, Due 2/15/2014, 2009-4 A3 |
300 | 302 | ||||||
Nissan Master Owner Trust Receivables, 1.369%, Due 1/15/2015, 2010-AA AC D |
600 | 607 | ||||||
Volkswagen Auto Loan Enhanced Trust, |
||||||||
0.66%, Due 5/21/2012, 2010-1 A2 |
69 | 69 | ||||||
6.24%, Due 7/20/2015, 2008-2 A4A |
300 | 318 | ||||||
Total Asset-Backed Securities (Cost $4,645) |
4,696 | |||||||
NON-AGENCY MORTGAGE-BACKED OBLIGATIONS - 3.73% |
||||||||
Banc of America Commercial Mortgage, Inc., |
||||||||
5.317%, Due 9/10/2047, 2006-5 A2 |
256 | 260 | ||||||
5.634%, Due 4/10/2049, 2007-2 A2 |
456 | 465 | ||||||
GS Mortgage Securities Corp II, |
||||||||
4.607%, Due 7/10/2039, 2005-GG4 A3 |
270 | 275 | ||||||
3.849%, Due 12/10/2043, 2010-C2C |
645 | 666 | ||||||
3.645%, Due 3/10/2044, 2011-GC3 A2 |
750 | 765 | ||||||
JP Morgan Chase Commercial Mortgage Securities Corp., |
||||||||
4.678%, Due 7/15/2042, 2005-LDP2 A3A |
242 | 250 | ||||||
3.853%, Due 6/15/2043, 2010-C1 A1C |
540 | 561 | ||||||
4.388%, Due 2/16/2046, 2011-C3A A3C |
650 | 669 | ||||||
5.932%, Due 2/12/2049, 2007-CB19 A4 |
400 | 441 | ||||||
5.629%, Due 2/12/2051, 2007-CB20 A2 |
521 | 539 | ||||||
LB-UBS Commercial Mortgage Trust, 5.424%, Due 2/15/2040, 2007-C1 A4 |
450 | 489 | ||||||
Wachovia Bank Commercial Mortgage Trust, 5.927%, Due 6/15/2049, 2007-C32 A2 |
245 | 256 | ||||||
Total Non-Agency Mortgage-Backed Obligations (Cost $5,478) |
5,636 |
26
Par Amount | Value | |||||||
($000) | ($000) | |||||||
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 11.60% |
||||||||
Federal Home Loan Mortgage Corporation - 5.34% |
||||||||
5.00%, Due 2/1/2021 |
$ | 469 | $ | 504 | ||||
4.50%, Due 4/1/2021 |
487 | 518 | ||||||
5.00%, Due 9/1/2035 |
1,353 | 1,433 | ||||||
5.50%, Due 4/1/2037 |
399 | 429 | ||||||
5.00%, Due 3/1/2038 |
779 | 822 | ||||||
5.50%, Due 5/1/2038 |
482 | 519 | ||||||
4.00%, Due 1/1/2041 |
1,789 | 1,779 | ||||||
4.50%, Due 2/1/2041 |
1,993 | 2,051 | ||||||
8,055 | ||||||||
Federal National Mortgage Association - 5.01% |
||||||||
3.50%, Due 1/1/2026 |
491 | 498 | ||||||
6.50%, Due 7/1/2032 |
229 | 259 | ||||||
5.50%, Due 6/1/2033 |
471 | 511 | ||||||
4.50%, Due 9/1/2034 |
271 | 281 | ||||||
5.50%, Due 12/1/2035 |
541 | 585 | ||||||
5.00%, Due 2/1/2036 |
434 | 460 | ||||||
5.50%, Due 4/1/2036 |
749 | 811 | ||||||
5.50%, Due 2/1/2037 |
544 | 587 | ||||||
6.00%, Due 9/1/2037 |
339 | 371 | ||||||
6.00%, Due 1/1/2038 |
497 | 544 | ||||||
4.50%, Due 1/1/2040 |
1,490 | 1,535 | ||||||
4.00%, Due 9/1/2040 |
1,131 | 1,128 | ||||||
7,570 | ||||||||
Government National Mortgage Association - 1.25% |
||||||||
6.00%, Due 2/15/2033 |
521 | 582 | ||||||
5.50%, Due 4/15/2033 |
701 | 767 | ||||||
5.00%, Due 5/15/2033 |
501 | 541 | ||||||
1,890 | ||||||||
Total U.S. Agency Mortgage-Backed Obligations (Cost $16,594) |
17,515 | |||||||
U.S. AGENCY OBLIGATIONS - 0.76% |
||||||||
4.201%, Due 8/16/2026 2006-9 A |
64 | 64 | ||||||
1.692%, Due 11/16/2035 2009-148 A |
310 | 310 | ||||||
2.989%, Due 3/16/2039 2010-71 AC |
753 | 769 | ||||||
Total U.S. Agency Obligations (Cost $1,133) |
1,143 | |||||||
U.S. TREASURY OBLIGATIONS - 19.32% |
||||||||
U.S. Treasury Bonds - 4.32% |
||||||||
7.875%, Due 2/15/2021 |
300 | 417 | ||||||
6.25%, Due 8/15/2023 |
1,500 | 1,884 | ||||||
6.875%, Due 8/15/2025 |
250 | 333 | ||||||
5.25%, Due 11/15/2028 |
1,050 | 1,201 | ||||||
4.75%, Due 2/15/2037 |
420 | 446 | ||||||
4.50%, Due 8/15/2039 |
2,210 | 2,244 | ||||||
6,525 | ||||||||
U.S. Treasury Notes - 15.00% |
||||||||
2.625%, Due 7/31/2014 |
7,000 | 7,329 | ||||||
2.25%, Due 1/31/2015 |
1,400 | 1,443 | ||||||
2.50%, Due 4/30/2015 |
1,000 | 1,039 | ||||||
3.00%, Due 9/30/2016 |
800 | 836 | ||||||
3.125%, Due 10/31/2016 |
2,200 | 2,309 | ||||||
3.00%, Due 2/28/2017 |
2,000 | 2,076 | ||||||
4.25%, Due 8/15/2015 |
1,200 | 1,330 | ||||||
3.75%, Due 11/15/2018 |
1,050 | 1,119 | ||||||
3.625%, Due 2/15/2020 |
1,325 | 1,378 | ||||||
2.625%, Due 11/15/2020 |
4,000 | 3,784 | ||||||
22,643 | ||||||||
Total U.S. Treasury Obligations (Cost $28,858) |
29,168 | |||||||
27
Shares | ||||||||
SHORT-TERM INVESTMENTS - 6.07% |
||||||||
JPMorgan U.S. Government Money Market Fund |
2,173,145 | $ | 2,173 | |||||
United States Treasury Bill |
7,000,000 | 6,995 | ||||||
Total Short-Term Investments (Cost 9,168) |
9,168 | |||||||
TOTAL INVESTMENTS - 99.05% (Cost $140,406) |
149,532 | |||||||
OTHER ASSETS, NET OF LIABILITIES - 0.95% |
1,433 | |||||||
TOTAL NET ASSETS - 100.00% |
$ | 150,965 | ||||||
A | Non-income producing security. | |
B | ADR - American Depositary Receipt. | |
C | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $15,420 or 10.21% of net assets. The Fund has no right to demand registration of these securities. | |
D | The coupon rate shown on floating or adjustable rate securities represents the rate at period end. The due date on these types of securities reflects the final maturity date. | |
28
Par Amount | Value | |||||||
($000) | ($000) | |||||||
CORPORATE OBLIGATIONS - 43.87% |
||||||||
Finance - 19.66% |
||||||||
AEGON Funding Co., LLC, 5.75%, Due 12/15/2020 |
$ | 400 | $ | 425 | ||||
Aflac, Inc., 8.50%, Due 5/15/2019 |
240 | 294 | ||||||
American Express Co., 8.15%, Due 3/19/2038 |
325 | 444 | ||||||
American Express Credit Corp., |
||||||||
5.125%, Due 8/25/2014 |
910 | 994 | ||||||
2.75%, Due 9/15/2015 |
225 | 224 | ||||||
American International Group, Inc., 6.40%, Due 12/15/2020 |
800 | 875 | ||||||
ANZ National Intl Ltd/London, 2.375%, Due 12/21/2012A |
350 | 355 | ||||||
Bank of America Corp., |
||||||||
4.50%, Due 4/1/2015 |
490 | 516 | ||||||
7.80%, Due 9/15/2016 |
700 | 807 | ||||||
7.625%, Due 6/1/2019 |
1,200 | 1,415 | ||||||
Bank One Corp., 4.90%, Due 4/30/2015 |
500 | 533 | ||||||
Barclays Bank plc, |
||||||||
3.90%, Due 4/7/2015 |
380 | 399 | ||||||
6.75%, Due 5/22/2019 |
350 | 400 | ||||||
BNP Paribas, 3.60%, Due 2/23/2016 |
400 | 407 | ||||||
Canadian Imperial Bank of Commerce/Canada, 1.45%, Due 9/13/2013 |
745 | 747 | ||||||
Citigroup, Inc., |
||||||||
1.235%, Due 4/1/2014B |
400 | 400 | ||||||
0.591%, Due 11/5/2014B |
380 | 370 | ||||||
6.01%, Due 1/15/2015 |
605 | 671 | ||||||
6.125%, Due 11/21/2017 |
755 | 837 | ||||||
8.50%, Due 5/22/2019 |
1,450 | 1,806 | ||||||
CME Group, Inc., |
||||||||
5.40%, Due 8/1/2013 |
260 | 284 | ||||||
5.75%, Due 2/15/2014 |
650 | 723 | ||||||
CNA Financial Corp., 7.35%, Due 11/15/2019 |
210 | 243 | ||||||
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands, |
||||||||
4.20%, Due 5/13/2014A |
600 | 642 | ||||||
2.125%, Due 10/13/2015 |
510 | 500 | ||||||
Covidien International Finance S.A., 2.80%, Due 6/15/2015 |
500 | 507 | ||||||
Credit Suisse/New York NY, 5.30%, Due 8/13/2019 |
425 | 455 | ||||||
Danske Bank A/S, 1.331%, Due 4/14/2014A B |
780 | 780 | ||||||
Deutsche Bank AG/London, 3.875%, Due 8/18/2014 |
400 | 421 | ||||||
Fifth Third Bancorp, 3.625%, Due 1/25/2016 |
400 | 406 | ||||||
General Electric Capital Corp., |
||||||||
0.493%, Due 1/8/2016B |
1,300 | 1,258 | ||||||
5.40%, Due 2/15/2017 |
480 | 527 | ||||||
5.625%, Due 5/1/2018 |
870 | 953 | ||||||
6.00%, Due 8/7/2019 |
350 | 390 | ||||||
5.50%, Due 1/8/2020 |
800 | 860 | ||||||
5.30%, Due 2/11/2021 |
240 | 249 | ||||||
5.875%, Due 1/14/2038 |
745 | 753 | ||||||
HCP, Inc., 5.375%, Due 2/1/2021 |
500 | 520 | ||||||
HSBC Finance Corp., 0.528%, Due 1/15/2014B |
1,100 | 1,084 | ||||||
ING Bank N.V., 5.125%, Due 5/1/2015A |
250 | 259 | ||||||
JPMorgan Chase & Co., |
||||||||
3.70%, Due 1/20/2015 |
1,730 | 1,795 | ||||||
6.00%, Due 1/15/2018 |
450 | 501 | ||||||
5.50%, Due 10/15/2040 |
425 | 425 | ||||||
JPMorgan Chase Bank NA, 0.640%, Due 6/13/2016A B |
480 | 461 | ||||||
KeyCorp, 5.10%, Due 3/24/2021 |
245 | 251 | ||||||
Lincoln National Corp., 4.75%, Due 2/15/2014 |
50 | 53 | ||||||
Lloyds TSB Bank plc, |
||||||||
4.375%, Due 1/12/2015A |
375 | 388 | ||||||
6.375%, Due 1/21/2021 |
260 | 279 | ||||||
Mellon Funding Corp., 0.463%, Due 5/15/2014B |
500 | 497 | ||||||
Merrill Lynch & Co, Inc., |
||||||||
6.40%, Due 8/28/2017 |
1,015 | 1,131 |
29
Par Amount | Value | |||||||
($000) | ($000) | |||||||
6.50%, Due 7/15/2018 |
$ | 520 | $ | 570 | ||||
6.11%, Due 1/29/2037 |
360 | 353 | ||||||
MetLife Institutional Funing II, 1.201%, Due 4/4/2014A B |
600 | 602 | ||||||
MetLife, Inc., |
||||||||
5.00%, Due 11/24/2013 |
620 | 670 | ||||||
6.375%, Due 6/15/2034 |
500 | 554 | ||||||
Monumental Global Funding III, 0.478%, Due 1/15/2014A B |
375 | 362 | ||||||
Morgan Stanley, |
||||||||
0.758%, Due 10/15/2015B |
1,180 | 1,137 | ||||||
7.30%, Due 5/13/2019 |
370 | 424 | ||||||
5.625%, Due 9/23/2019 |
600 | 624 | ||||||
National Australia Bank Ltd., 4.375%, Due 12/10/2020A |
425 | 414 | ||||||
National Rural Utilities Cooperative Finance Corp., 1.125%, Due 11/1/2013 |
485 | 484 | ||||||
Nationwide Building Society, 5.50%, Due 7/18/2012A |
550 | 577 | ||||||
Nordea Bank AB, |
||||||||
2.50%, Due 11/13/2012A |
400 | 408 | ||||||
4.875%, Due 1/27/2020A |
450 | 465 | ||||||
PNC Funding Corp., |
||||||||
4.25%, Due 9/21/2015 |
1,010 | 1,074 | ||||||
4.375%, Due 8/11/2020 |
410 | 414 | ||||||
Pricoa Global Funding I, 5.40%, Due 10/18/2012A |
175 | 185 | ||||||
Prudential Financial, Inc., |
||||||||
5.10%, Due 9/20/2014 |
475 | 517 | ||||||
7.375%, Due 6/15/2019 |
450 | 536 | ||||||
Societe Generale, |
||||||||
2.20%, Due 9/14/2013A |
450 | 453 | ||||||
1.326%, Due 4/11/2014A B |
900 | 901 | ||||||
State Street Corp., |
||||||||
4.30%, Due 5/30/2014 |
360 | 388 | ||||||
2.875%, Due 3/7/2016 |
705 | 711 | ||||||
SunTrust Banks, Inc., 3.60%, Due 4/15/2016 |
245 | 248 | ||||||
The Bank of New York Mellon Corp, |
||||||||
4.95%, Due 11/1/2012 |
| | ||||||
1.50%, Due 1/31/2014 |
475 | 477 | ||||||
4.30%, Due 5/15/2014 |
470 | 509 | ||||||
The Bear Stearns Cos., Inc., 7.25%, Due 2/1/2018 |
1,970 | 2,314 | ||||||
The Goldman Sachs Group, Inc., |
||||||||
5.35%, Due 1/15/2016 |
800 | 868 | ||||||
6.25%, Due 9/1/2017 |
800 | 891 | ||||||
5.95%, Due 1/18/2018 |
760 | 832 | ||||||
6.00%, Due 6/15/2020 |
490 | 530 | ||||||
6.75%, Due 10/1/2037 |
345 | 358 | ||||||
The Travelers Cos Inc, 3.90%, Due 11/1/2020 |
210 | 203 | ||||||
Travelers Property Casualty Corp., 5.00%, Due 3/15/2013 |
805 | 861 | ||||||
UBS AG/Stamford CT, 5.875%, Due 12/20/2017 |
400 | 447 | ||||||
US Bancorp, 1.375%, Due 9/13/2013 |
850 | 853 | ||||||
Wachovia Corp., |
||||||||
0.648%, Due 10/15/2016B |
750 | 710 | ||||||
5.75%, Due 2/1/2018 |
750 | 837 | ||||||
Wells Fargo & Co., |
||||||||
5.625%, Due 12/11/2017 |
475 | 530 | ||||||
4.60%, Due 4/1/2021 |
470 | 475 | ||||||
Westpac Banking Corp., 2.25%, Due 11/19/2012 |
375 | 382 | ||||||
Willis North America, Inc., 6.20%, Due 3/28/2017 |
280 | 305 | ||||||
55,967 | ||||||||
Industrials - 18.95% |
||||||||
Alltel Corp., 7.00%, Due 7/1/2012 |
215 | 230 | ||||||
Altria Group, Inc., 9.70%, Due 11/10/2018 |
375 | 499 | ||||||
America Movil SAB de CV, 6.375%, Due 3/1/2035 |
375 | 408 | ||||||
American Honda Finance Corp., |
||||||||
4.625%, Due 4/2/2013A |
250 | 265 | ||||||
3.875%, Due 9/21/2020A |
225 | 220 |
30
Par Amount | Value | |||||||
($000) | ($000) | |||||||
Analog Devices, Inc., 3.00%, Due 4/15/2016 |
$ | 210 | $ | 213 | ||||
Anheuser-Busch InBev Worldwide, Inc., |
||||||||
3.00%, Due 10/15/2012 |
540 | 556 | ||||||
5.00%, Due 4/15/2020 |
380 | 407 | ||||||
8.00%, Due 11/15/2039 |
175 | 239 | ||||||
Apache Corp., 5.10%, Due 9/1/2040 |
200 | 192 | ||||||
AT&T, Inc., |
||||||||
5.10%, Due 9/15/2014 |
955 | 1,053 | ||||||
5.625%, Due 6/15/2016 |
400 | 451 | ||||||
5.50%, Due 2/1/2018 |
600 | 662 | ||||||
6.80%, Due 5/15/2036 |
225 | 249 | ||||||
6.40%, Due 5/15/2038 |
200 | 213 | ||||||
5.35%, Due 9/1/2040A |
283 | 265 | ||||||
Baxter International, Inc., 1.80%, Due 3/15/2013 |
270 | 274 | ||||||
Becton Dickinson and Co., 3.25%, Due 11/12/2020 |
475 | 448 | ||||||
BP Capital Markets plc, 3.20%, Due 3/11/2016 |
1,065 | 1,074 | ||||||
Burlington Northern Santa Fe LLC, |
||||||||
5.75%, Due 3/15/2018 |
600 | 677 | ||||||
7.95%, Due 8/15/2030 |
180 | 231 | ||||||
5.75%, Due 5/1/2040 |
190 | 196 | ||||||
Cameron International Corp., 6.375%, Due 7/15/2018 |
225 | 255 | ||||||
Canadian National Railway Co., 5.55%, Due 5/15/2018 |
400 | 448 | ||||||
Canadian Natural Resources Ltd., 6.25%, Due 3/15/2038 |
360 | 397 | ||||||
Caterpillar Financial Services Corp., |
||||||||
1.90%, Due 12/17/2012 |
100 | 102 | ||||||
4.25%, Due 2/8/2013 |
250 | 265 | ||||||
6.125%, Due 2/17/2014 |
750 | 847 | ||||||
2.75%, Due 6/24/2015 |
380 | 391 | ||||||
Cellco Partnership / Verizon Wireless Capital LLC, |
||||||||
3.75%, Due 5/20/2011 |
370 | 371 | ||||||
8.50%, Due 11/15/2018 |
535 | 694 | ||||||
Cisco Systems, Inc., 1.625%, Due 3/14/2014 |
705 | 709 | ||||||
Cliffs Natural Resources, Inc., 4.875%, Due 4/1/2021 |
280 | 284 | ||||||
Coca-Cola Refreshments USA, Inc., 7.375%, Due 3/3/2014 |
175 | 204 | ||||||
Comcast Cable Communications Holdings, Inc., 8.375%, Due 3/15/2013 |
128 | 144 | ||||||
Comcast Corp., |
||||||||
6.30%, Due 11/15/2017 |
465 | 535 | ||||||
5.875%, Due 2/15/2018 |
235 | 262 | ||||||
6.55%, Due 7/1/2039 |
500 | 540 | ||||||
ConocoPhillips, |
||||||||
4.60%, Due 1/15/2015 |
1,210 | 1,332 | ||||||
5.20%, Due 5/15/2018 |
600 | 669 | ||||||
Cooper US, Inc., |
||||||||
2.375%, Due 1/15/2016 |
730 | 726 | ||||||
3.875%, Due 12/15/2020 |
315 | 312 | ||||||
CSX Corp., 5.50%, Due 4/15/2041 |
425 | 419 | ||||||
CVS Caremark Corp., 3.25%, Due 5/18/2015 |
190 | 195 | ||||||
Daimler Finance North America LLC, |
||||||||
5.75%, Due 9/8/2011 |
200 | 204 | ||||||
3.00%, Due 3/28/2016A |
190 | 191 | ||||||
Dell, Inc., 3.375%, Due 6/15/2012 |
235 | 241 | ||||||
DIRECTV Holdings LLC / DIRECTV Financing Co, Inc., |
||||||||
3.55%, Due 3/15/2015 |
625 | 647 | ||||||
6.35%, Due 3/15/2040 |
145 | 151 | ||||||
Eaton Corp., 5.60%, Due 5/15/2018 |
380 | 427 | ||||||
eBay, Inc., 0.875%, Due 10/15/2013 |
335 | 333 | ||||||
EI du Pont de Nemours & Co, |
||||||||
5.875%, Due 1/15/2014 |
67 | 75 | ||||||
3.25%, Due 1/15/2015 |
660 | 690 | ||||||
Ensco plc, 4.70%, Due 3/15/2021 |
350 | 353 | ||||||
EOG Resources, Inc., 2.50%, Due 2/1/2016 |
425 | 421 | ||||||
Express Scripts, Inc., 6.25%, Due 6/15/2014 |
685 | 768 | ||||||
France Telecom S.A., |
31
Par Amount | Value | |||||||
($000) | ($000) | |||||||
4.375%, Due 7/8/2014 |
$ | 385 | $ | 416 | ||||
2.125%, Due 9/16/2015 |
225 | 223 | ||||||
GlaxoSmithKline Capital, Inc., 5.65%, Due 5/15/2018 |
125 | 142 | ||||||
Health Care REIT, Inc., |
||||||||
3.625%, Due 3/15/2016 |
295 | 295 | ||||||
5.25%, Due 1/15/2022 |
345 | 346 | ||||||
Hewlett-Packard Co., |
||||||||
6.125%, Due 3/1/2014 |
485 | 546 | ||||||
2.20%, Due 12/1/2015 |
425 | 422 | ||||||
Home Depot, Inc., 4.40%, Due 4/1/2021 |
400 | 402 | ||||||
Honeywell International, Inc., 4.25%, Due 3/1/2013 |
620 | 659 | ||||||
Hospira, Inc., 6.05%, Due 3/30/2017 |
205 | 231 | ||||||
International Business Machines Corp., |
||||||||
4.75%, Due 11/29/2012 |
525 | 558 | ||||||
7.625%, Due 10/15/2018 |
845 | 1,069 | ||||||
ITT Corp., 4.90%, Due 5/1/2014 |
615 | 665 | ||||||
John Deere Capital Corp., 4.90%, Due 9/9/2013 |
650 | 707 | ||||||
Johnson Controls, Inc., 5.00%, Due 3/30/2020 |
480 | 509 | ||||||
Kellogg Co., 4.25%, Due 3/6/2013 |
250 | 264 | ||||||
Koninklijke Philips Electronics N.V., 5.75%, Due 3/11/2018 |
465 | 526 | ||||||
Kraft Foods, Inc., 6.50%, Due 2/9/2040 |
220 | 245 | ||||||
Lorillard Tobacco Co., 8.125%, Due 6/23/2019 |
255 | 302 | ||||||
Marathon Oil Corp., 6.00%, Due 10/1/2017 |
475 | 542 | ||||||
Marathon Petroleum Corp., 3.50%, Due 3/1/2016A |
420 | 426 | ||||||
McKesson Corp., 3.25%, Due 3/1/2016 |
200 | 204 | ||||||
Medtronic, Inc., 3.00%, Due 3/15/2015 |
965 | 1,002 | ||||||
Norfolk Southern Corp., 5.75%, Due 4/1/2018 |
300 | 341 | ||||||
Northrop Grumman Corp., 5.05%, Due 8/1/2019 |
200 | 214 | ||||||
Novartis Capital Corp., 2.90%, Due 4/24/2015 |
880 | 910 | ||||||
Petrobras International Finance Co. Pifco, |
||||||||
3.875%, Due 1/27/2016 |
505 | 512 | ||||||
6.875%, Due 1/20/2040 |
110 | 116 | ||||||
Petroleos Mexicanos, 6.00%, Due 3/5/2020 |
375 | 401 | ||||||
PPG Industries, Inc., 1.90%, Due 1/15/2016 |
250 | 240 | ||||||
Quest Diagnostics, Inc., 4.75%, Due 1/30/2020 |
225 | 230 | ||||||
Rogers Communications, Inc., 5.50%, Due 3/15/2014 |
475 | 525 | ||||||
Sanofi, |
||||||||
1.625%, Due 3/28/2014 |
740 | 746 | ||||||
4.00%, Due 3/29/2021 |
495 | 493 | ||||||
Shell International Finance BV, 3.10%, Due 6/28/2015 |
380 | 394 | ||||||
Simon Property Group LP, |
||||||||
5.75%, Due 12/1/2015 |
460 | 515 | ||||||
10.35%, Due 4/1/2019 |
375 | 522 | ||||||
Teck Resources Ltd., 6.00%, Due 8/15/2040 |
205 | 212 | ||||||
Telecom Italia Capital S.A., 4.95%, Due 9/30/2014 |
245 | 258 | ||||||
Telefonica Emisiones SAU, |
||||||||
4.949%, Due 1/15/2015 |
240 | 257 | ||||||
6.421%, Due 6/20/2016 |
450 | 507 | ||||||
The Boeing Co, 1.875%, Due 11/20/2012 |
400 | 407 | ||||||
The Coca-Cola Co, 0.75%, Due 11/15/2013 |
1,190 | 1,181 | ||||||
The Dow Chemical Co, |
||||||||
2.50%, Due 2/15/2016 |
200 | 196 | ||||||
4.25%, Due 11/15/2020 |
250 | 245 | ||||||
Thomson Reuters Corp., 4.70%, Due 10/15/2019 |
225 | 239 | ||||||
Time Warner Cable, Inc., |
||||||||
5.85%, Due 5/1/2017 |
450 | 501 | ||||||
6.75%, Due 7/1/2018 |
825 | 950 | ||||||
Time Warner, Inc., |
||||||||
4.875%, Due 3/15/2020 |
290 | 301 | ||||||
4.75%, Due 3/29/2021 |
350 | 357 | ||||||
Tyco Electronics Group S.A., 6.55%, Due 10/1/2017 |
225 | 263 | ||||||
Tyco International Finance S.A., |
||||||||
3.75%, Due 1/15/2018 |
400 | 401 |
32
Par Amount | Value | |||||||
($000) | ($000) | |||||||
8.50%, Due 1/15/2019 |
$ | 320 | $ | 409 | ||||
Union Pacific Corp., 7.875%, Due 1/15/2019 |
550 | 696 | ||||||
United Parcel Service, Inc., 3.125%, Due 1/15/2021 |
955 | 896 | ||||||
United Technologies Corp., 6.125%, Due 7/15/2038 |
125 | 141 | ||||||
UnitedHealth Group, Inc., |
||||||||
4.875%, Due 2/15/2013 |
750 | 797 | ||||||
3.875%, Due 10/15/2020 |
425 | 412 | ||||||
Valero Energy Corp., |
||||||||
9.375%, Due 3/15/2019 |
170 | 221 | ||||||
6.625%, Due 6/15/2037 |
205 | 216 | ||||||
Verizon Communications, Inc., |
||||||||
5.50%, Due 4/1/2017 |
500 | 561 | ||||||
4.60%, Due 4/1/2021 |
280 | 286 | ||||||
6.90%, Due 4/15/2038 |
500 | 573 | ||||||
Vodafone Group plc, 6.15%, Due 2/27/2037 |
360 | 393 | ||||||
Wal-Mart Stores, Inc., |
||||||||
7.55%, Due 2/15/2030 |
400 | 515 | ||||||
5.625%, Due 4/15/2041 |
255 | 263 | ||||||
Xerox Corp., |
||||||||
5.65%, Due 5/15/2013 |
50 | 54 | ||||||
8.25%, Due 5/15/2014 |
190 | 223 | ||||||
4.25%, Due 2/15/2015 |
500 | 530 | ||||||
53,945 | ||||||||
Other Government - 0.28% |
||||||||
Province of Ontario Canada, |
||||||||
4.10%, Due 6/16/2014 |
350 | 379 | ||||||
3.15%, Due 12/15/2017 |
425 | 429 | ||||||
808 | ||||||||
Utilities - 4.98% |
||||||||
Columbus Southern Power Co., 5.50%, Due 3/1/2013 |
595 | 639 | ||||||
Commonwealth Edison Co., 4.00%, Due 8/1/2020 |
190 | 186 | ||||||
Consolidated Edison Co of New York, Inc., 5.50%, Due 12/1/2039 |
350 | 360 | ||||||
Dominion Resources, Inc., 1.80%, Due 3/15/2014 |
990 | 994 | ||||||
Duke Energy Carolinas LLC, 5.10%, Due 4/15/2018 |
400 | 441 | ||||||
Duke Energy Indiana, Inc., 6.05%, Due 6/15/2016 |
450 | 512 | ||||||
EDF S.A., 4.60%, Due 1/27/2020A |
580 | 598 | ||||||
Energy Transfer Partners LP, |
||||||||
8.50%, Due 4/15/2014 |
605 | 709 | ||||||
9.00%, Due 4/15/2019 |
300 | 383 | ||||||
Enterprise Products Operating LLC, |
||||||||
5.65%, Due 4/1/2013 |
555 | 599 | ||||||
6.125%, Due 10/15/2039 |
350 | 357 | ||||||
Exelon Generation Co LLC, |
||||||||
5.20%, Due 10/1/2019 |
350 | 365 | ||||||
6.25%, Due 10/1/2039 |
365 | 370 | ||||||
FirstEnergy Solutions Corp., 4.80%, Due 2/15/2015 |
175 | 186 | ||||||
Midamerican Energy Holdings Co., |
||||||||
5.875%, Due 10/1/2012 |
605 | 645 | ||||||
6.125%, Due 4/1/2036 |
375 | 403 | ||||||
ONEOK Partners LP, 6.125%, Due 2/1/2041 |
500 | 516 | ||||||
Pacific Gas & Electric Co., |
||||||||
6.25%, Due 12/1/2013 |
150 | 166 | ||||||
3.50%, Due 10/1/2020 |
450 | 422 | ||||||
Progress Energy, Inc., 4.875%, Due 12/1/2019 |
600 | 633 | ||||||
Sempra Energy, 6.50%, Due 6/1/2016 |
325 | 374 | ||||||
Southern Power Co., 6.25%, Due 7/15/2012 |
550 | 583 | ||||||
Spectra Energy Capital LLC, |
||||||||
5.668%, Due 8/15/2014 |
320 | 354 | ||||||
5.65%, Due 3/1/2020 |
265 | 285 | ||||||
TransCanada PipeLines Ltd., |
||||||||
7.625%, Due 1/15/2039 |
520 | 657 | ||||||
6.10%, Due 6/1/2040 |
290 | 312 |
33
Par Amount | Value | |||||||
($000) | ($000) | |||||||
Union Electric Co., 6.70%, Due 2/1/2019 |
$ | 510 | $ | 594 | ||||
Virginia Electric and Power Co., 5.40%, Due 4/30/2018 |
400 | 443 | ||||||
Westar Energy, Inc., 6.00%, Due 7/1/2014 |
200 | 221 | ||||||
Xcel Energy, Inc., 5.613%, Due 4/1/2017 |
781 | 859 | ||||||
14,166 | ||||||||
Total Corporate Obligations (Cost $119,074) |
124,886 | |||||||
ASSET-BACKED SECURITIES - 3.20% |
||||||||
American Express Credit Account Master Trust, 5.35%, Due 1/15/2014, 2006-2 A |
1,550 | 1,559 | ||||||
BMW Floorplan Master Owner Trust, 1.369%, Due 9/15/2014, 2009-1A AA B |
400 | 404 | ||||||
Capital One Multi-Asset Execution Trust, 5.15%, Due 6/15/2014, 2006-A10 A10 |
1,150 | 1,166 | ||||||
Citibank Credit Card Issuance Trust, 1.769%, Due 5/15/2014, 2009-A2 A2B |
750 | 761 | ||||||
CNH Equipment Trust, 1.17%, Due 5/15/2015, 2010-C A3 |
665 | 666 | ||||||
Discover Card Master Trust, 1.519%, Due 2/17/2015, 2009-A2 AB |
600 | 608 | ||||||
Ford Credit Auto Lease Trust, 1.04%, Due 3/15/2013, 2010-A A2A |
275 | 275 | ||||||
Ford Credit Floorplan Master Owner Trust, 1.769%, Due 9/15/2014, 2009-2 AB |
400 | 406 | ||||||
Harley-Davidson Motorcycle Trust, 1.87%, Due 2/15/2014, 2009-4 A3 |
350 | 352 | ||||||
Honda Auto Receivables Owner Trust, 3.30%, Due 9/15/2015, 2009-3 A4 |
385 | 399 | ||||||
Hyundai Auto Receivables Trust, 3.15%, Due 3/15/2016, 2009-A A4 |
220 | 229 | ||||||
John Deere Owner Trust, |
||||||||
2.59%, Due 10/15/2013, 2009-A A3 |
119 | 120 | ||||||
3.96%, Due 5/16/2016, 2009-A A4 |
510 | 528 | ||||||
Nissan Master Owner Trust Receivables, 1.369%, Due 1/15/2015, 2010-AA AA B |
750 | 758 | ||||||
Volkswagen Auto Loan Enhanced Trust, |
||||||||
0.66%, Due 5/21/2012, 2010-1 A2 |
86 | 86 | ||||||
6.24%, Due 7/20/2015, 2008-2 A4A |
300 | 318 | ||||||
World Omni Auto Receivables Trust, 1.11%, Due 5/15/2015, 2011-A A3 |
470 | 470 | ||||||
Total Asset-Backed Securities (Cost $9,014) |
9,105 | |||||||
NON-AGENCY MORTGAGE-BACKED OBLIGATIONS - 4.44% |
||||||||
Banc of America Commercial Mortgage, Inc., |
||||||||
5.317%, Due 9/10/2047, 2006-5 A2 |
360 | 366 | ||||||
5.634%, Due 4/10/2049, 2007-2 A2 |
596 | 609 | ||||||
Bear Stearns Commercial Mortgage Securities, |
||||||||
5.201%, Due 12/11/2038, 2006-PWR14 A4 |
790 | 857 | ||||||
5.54%, Due 9/11/2041, 2006-PW13 A4 |
1,285 | 1,414 | ||||||
4.831%, Due 7/11/2042, 2004-PWR5 A4 |
835 | 868 | ||||||
Citigroup Commercial Mortgage Trust, 4.38%, Due 10/15/2041, 2004-C2 A3 |
427 | 430 | ||||||
Citigroup/Deutsche Bank Commercial Mortgage Trust, 5.886%, Due 11/15/2044, 2007-CD5 A4 |
840 | 931 | ||||||
GS Mortgage Securities Corp II, |
||||||||
4.607%, Due 7/10/2039, 2005-GG4 A3 |
380 | 388 | ||||||
3.679%, Due 8/10/2043, 2010-C1 A1A |
579 | 594 | ||||||
3.849%, Due 12/10/2043, 2010-C2A |
793 | 819 | ||||||
3.645%, Due 3/10/2044, 2011-GC3 A2 |
750 | 765 | ||||||
JP Morgan Chase Commercial Mortgage Securities Corp., |
||||||||
4.678%, Due 7/15/2042, 2005-LDP2 A3A |
341 | 352 | ||||||
3.853%, Due 6/15/2043, 2010-C1 A1A |
737 | 764 | ||||||
4.388%, Due 2/16/2046, 2011-C3A A3A |
800 | 824 | ||||||
4.625%, Due 3/15/2046, 2005-LDP1 A2 |
310 | 314 | ||||||
5.932%, Due 2/12/2049, 2007-CB19 A4 |
550 | 606 | ||||||
5.629%, Due 2/12/2051, 2007-CB20 A2 |
711 | 735 | ||||||
LB-UBS Commercial Mortgage Trust, 5.424%, Due 2/15/2040, 2007-C1 A4 |
550 | 597 | ||||||
Wachovia Bank Commercial Mortgage Trust, 5.927%, Due 6/15/2049, 2007-C32 A2 |
386 | 404 | ||||||
Total Non-Agency Mortgage-Backed Obligations (Cost $11,792) |
12,637 | |||||||
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 23.56% |
||||||||
Federal Home Loan Mortgage Corporation - 7.74% |
||||||||
4.50%, Due 3/1/2019 |
264 | 280 |
34
Par Amount | Value | |||||||
($000) | ($000) | |||||||
5.00%, Due 10/1/2020 |
$ | 624 | $ | 671 | ||||
5.00%, Due 4/1/2023 |
0 | 0 | ||||||
3.50%, Due 10/1/2025 |
1,098 | 1,114 | ||||||
4.00%, Due 3/15/2026 |
993 | 1,046 | ||||||
5.00%, Due 8/1/2033 |
390 | 414 | ||||||
5.50%, Due 2/1/2034 |
480 | 519 | ||||||
6.00%, Due 8/1/2034 |
234 | 258 | ||||||
5.00%, Due 8/1/2035 |
266 | 282 | ||||||
5.00%, Due 9/1/2035 |
677 | 717 | ||||||
6.00%, Due 8/1/2036 |
207 | 228 | ||||||
5.50%, Due 4/1/2037 |
399 | 429 | ||||||
5.50%, Due 12/1/2037 |
1,683 | 1,816 | ||||||
5.00%, Due 3/1/2038 |
573 | 605 | ||||||
6.00%, Due 3/1/2038 |
974 | 1,067 | ||||||
5.50%, Due 5/1/2038 |
603 | 648 | ||||||
5.50%, Due 6/1/2038 |
443 | 477 | ||||||
5.50%, Due 10/1/2039 |
661 | 711 | ||||||
5.00%, Due 4/1/2040 |
4,355 | 4,600 | ||||||
5.00%, Due 5/1/2040 |
2,764 | 2,925 | ||||||
4.00%, Due 1/1/2041 |
1,689 | 1,680 | ||||||
4.50%, Due 2/1/2041 |
1,495 | 1,538 | ||||||
22,025 | ||||||||
Federal National Mortgage Association - 14.07% |
||||||||
6.50%, Due 2/1/2017 |
105 | 115 | ||||||
5.00%, Due 12/1/2017 |
359 | 387 | ||||||
4.50%, Due 9/1/2018 |
721 | 768 | ||||||
4.00%, Due 8/1/2020 |
184 | 193 | ||||||
4.50%, Due 4/1/2024 |
483 | 512 | ||||||
4.50%, Due 3/1/2025 |
3,256 | 3,449 | ||||||
4.50%, Due 5/1/2025 |
1,026 | 1,085 | ||||||
4.50%, Due 6/1/2025 |
2,474 | 2,614 | ||||||
3.50%, Due 1/1/2026 |
590 | 598 | ||||||
5.00%, Due 3/1/2034 |
516 | 549 | ||||||
5.50%, Due 6/1/2034 |
287 | 311 | ||||||
4.50%, Due 9/1/2034 |
181 | 188 | ||||||
5.50%, Due 2/1/2035 |
576 | 624 | ||||||
5.00%, Due 11/1/2035 |
734 | 779 | ||||||
5.50%, Due 12/1/2035 |
416 | 450 | ||||||
5.50%, Due 1/1/2036 |
491 | 531 | ||||||
5.00%, Due 2/1/2036 |
434 | 460 | ||||||
5.50%, Due 4/1/2036 |
936 | 1,012 | ||||||
6.00%, Due 9/1/2036 |
190 | 208 | ||||||
6.50%, Due 9/1/2036 |
702 | 793 | ||||||
6.50%, Due 12/1/2036 |
342 | 385 | ||||||
5.50%, Due 2/1/2037 |
544 | 587 | ||||||
5.50%, Due 8/1/2037 |
1,436 | 1,554 | ||||||
6.00%, Due 9/1/2037 |
509 | 557 | ||||||
6.00%, Due 1/1/2038 |
794 | 870 | ||||||
5.50%, Due 3/1/2038 |
1,396 | 1,511 | ||||||
5.00%, Due 4/1/2038 |
513 | 542 | ||||||
5.00%, Due 6/1/2038 |
694 | 733 | ||||||
5.50%, Due 6/1/2038 |
1,055 | 1,137 | ||||||
4.50%, Due 1/1/2040 |
3,311 | 3,412 | ||||||
5.00%, Due 5/1/2040 |
3,645 | 3,853 | ||||||
5.50%, Due 6/1/2040 |
2,435 | 2,623 | ||||||
4.50%, Due 8/1/2040 |
2,212 | 2,279 | ||||||
4.00%, Due 9/1/2040 |
2,168 | 2,161 | ||||||
5.00%, Due 1/1/2041 |
2,125 | 2,247 | ||||||
40,077 | ||||||||
Government National Mortgage Association - 1.75% |
||||||||
6.50%, Due 3/15/2028 |
243 | 275 | ||||||
6.00%, Due 4/15/2031 |
279 | 312 |
35
Par Amount | Value | |||||||
($000) | ($000) | |||||||
5.50%, Due 2/20/2034 |
$ | 329 | $ | 359 | ||||
5.50%, Due 2/15/2040 |
1,084 | 1,182 | ||||||
4.50%, Due 10/20/2040 |
1,357 | 1,421 | ||||||
5.00%, Due 2/20/2041 |
1,319 | 1,415 | ||||||
4,964 | ||||||||
Total U.S. Agency Mortgage-Backed Obligations (Cost $65,536) |
67,066 | |||||||
U.S. AGENCY OBLIGATIONS - 0.90% |
||||||||
Federal National Mortgage Association - 0.34% |
||||||||
5.125%, Due 1/2/2014 |
385 | 423 | ||||||
4.625%, Due 10/15/2014 |
500 | 554 | ||||||
977 | ||||||||
Government
National Mortgage Association - 0.56% |
||||||||
4.201%, Due 8/16/2026 2006-9 A |
36 | 36 | ||||||
1.692%, Due 11/16/2035 2009-148 A |
446 | 446 | ||||||
2.989%, Due 3/16/2039 2010-71 AC |
1,083 | 1,105 | ||||||
1,587 | ||||||||
Total U.S. Agency Obligations (Cost $2,465) |
2,564 | |||||||
U.S. TREASURY OBLIGATIONS - 20.89% |
||||||||
U.S. Treasury Bonds - 4.80% |
||||||||
7.875%, Due 2/15/2021 |
1,050 | 1,459 | ||||||
6.25%, Due 8/15/2023 |
1,400 | 1,758 | ||||||
6.875%, Due 8/15/2025 |
770 | 1,026 | ||||||
5.25%, Due 11/15/2028 |
750 | 858 | ||||||
4.75%, Due 2/15/2037 |
1,300 | 1,381 | ||||||
4.50%, Due 8/15/2039 |
2,810 | 2,854 | ||||||
4.25%, Due 11/15/2040 |
4,465 | 4,340 | ||||||
13,676 | ||||||||
U.S.
Treasury Notes - 16.09% |
||||||||
1.375%, Due 1/15/2013 |
3,145 | 3,192 | ||||||
0.75%, Due 8/15/2013 |
5,000 | 5,003 | ||||||
2.625%, Due 7/31/2014 |
5,000 | 5,236 | ||||||
2.25%, Due 1/31/2015 |
1,000 | 1,031 | ||||||
2.50%, Due 4/30/2015 |
5,000 | 5,193 | ||||||
2.00%, Due 1/31/2016 |
8,475 | 8,526 | ||||||
3.00%, Due 9/30/2016 |
2,150 | 2,245 | ||||||
3.125%, Due 10/31/2016 |
1,400 | 1,469 | ||||||
4.25%, Due 8/15/2015 |
2,000 | 2,217 | ||||||
3.75%, Due 11/15/2018 |
600 | 639 | ||||||
3.625%, Due 2/15/2020 |
2,700 | 2,807 | ||||||
3.625%, Due 2/15/2021 |
8,005 | 8,223 | ||||||
45,781 | ||||||||
Total U.S. Treasury Obligations (Cost $59,143) |
59,457 | |||||||
Shares | ||||||||
SHORT-TERM INVESTMENTS - 2.21% (Cost $6,293) |
||||||||
JPMorgan U.S. Government Money Market Fund |
6,292,791 | 6,293 | ||||||
TOTAL INVESTMENTS - 99.07% (Cost $273,316) |
282,009 | |||||||
OTHER
ASSETS, NET OF LIABILITIES - 0.93% |
2,658 | |||||||
TOTAL NET
ASSETS - 100.00% |
$ | 284,667 | ||||||
Percentages are stated as a percent of net assets. |
A | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $13,655 or 4.80% of net assets. The Fund has no right to demand registration of these securities. | |
B | The coupon rate shown on floating or adjustable rate securities represents the rate at period end. The due date on these types of securities reflects the final maturity date. |
36
Par Amount | Value | |||||||
($000) | ($000) | |||||||
CORPORATE OBLIGATIONS - 45.83% |
||||||||
Finance - 26.27% |
||||||||
ABN Amro Bank N.V., 2.043%, Due 1/30/2014A B |
$ | 2,000 | $ | 2,044 | ||||
American Express Co., 7.25%, Due 5/20/2014 |
1,000 | 1,148 | ||||||
American International Group, Inc., 3.65%, Due 1/15/2014 |
2,000 | 2,050 | ||||||
ANZ National International Ltd/New Zealand, 1.309%, Due 12/20/2013A B |
2,000 | 2,002 | ||||||
Bank of America Corp., 0.640%, Due 9/15/2014A |
1,290 | 1,263 | ||||||
Barclays Bank plc, 5.45%, Due 9/12/2012 |
1,000 | 1,060 | ||||||
Citigroup, Inc., |
||||||||
1.235%, Due 4/1/2014A |
1,000 | 999 | ||||||
0.591%, Due 11/5/2014A |
2,573 | 2,507 | ||||||
CME Group, Inc., 5.40%, Due 8/1/2013 |
250 | 273 | ||||||
Credit Suisse/New York NY, 5.00%, Due 5/15/2013 |
2,000 | 2,144 | ||||||
Danske Bank A/S, 1.331%, Due 4/14/2014A B |
3,000 | 3,000 | ||||||
Dexia Credit Local/New York NY, 0.710%, Due 3/5/2013A B |
3,000 | 2,988 | ||||||
General Electric Capital Corp., |
||||||||
0.439%, Due 3/20/2014A |
1,446 | 1,427 | ||||||
0.570%, Due 9/15/2014A |
1,218 | 1,203 | ||||||
HSBC Finance Corp., 0.528%, Due 1/15/2014A |
1,000 | 986 | ||||||
ING Bank N.V., 1.360%, Due 3/15/2013A B |
3,100 | 3,105 | ||||||
Lloyds TSB Bank plc, 2.624%, Due 1/24/2014A |
2,000 | 2,054 | ||||||
MassMutual Global Funding II, 3.625%, Due 7/16/2012B |
500 | 514 | ||||||
MetLife Institutional Funding II, 1.201%, Due 4/4/2014A B |
3,000 | 3,007 | ||||||
Metropolitan Life Global Funding I, 2.875%, Due 9/17/2012B |
1,000 | 1,022 | ||||||
Monumental Global Funding III, 0.478%, Due 1/15/2014A B |
1,000 | 965 | ||||||
Morgan Stanley, 0.758%, Due 10/15/2015A |
3,000 | 2,891 | ||||||
National Australia Bank Ltd., 1.70%, Due 12/10/2013B |
2,000 | 1,992 | ||||||
Nationwide Building Society, 5.50%, Due 7/18/2012B |
1,000 | 1,049 | ||||||
Pricoa Global Funding I, 5.40%, Due 10/18/2012B |
500 | 530 | ||||||
Prudential Financial, Inc., 4.50%, Due 7/15/2013 |
1,000 | 1,054 | ||||||
Societe Generale, 1.326%, Due 4/11/2014A B |
2,000 | 2,003 | ||||||
Svenska Handelsbanken AB, 4.875%, Due 6/10/2014B |
1,500 | 1,620 | ||||||
The Goldman Sachs Group Inc, |
||||||||
4.75%, Due 7/15/2013 |
2,000 | 2,127 | ||||||
0.674%, Due 7/22/2015A |
1,000 | 976 | ||||||
Wachovia Bank NA, 0.691%, Due 11/3/2014A |
1,000 | 982 | ||||||
50,985 | ||||||||
Industrials - 16.98% |
||||||||
American Honda Finance Corp., 4.625%, Due 4/2/2013B |
1,000 | 1,060 | ||||||
Anheuser-Busch InBev Worldwide, Inc., |
||||||||
3.00%, Due 10/15/2012 |
1,000 | 1,029 | ||||||
2.50%, Due 3/26/2013 |
1,000 | 1,025 | ||||||
BP Capital Markets plc, 0.910%, Due 3/11/2014A |
2,000 | 2,013 | ||||||
Burlington Northern Santa Fe LLC, 4.875%, Due 1/15/2015 |
1,000 | 1,091 | ||||||
Canadian Natural Resources Ltd., 6.70%, Due 7/15/2011 |
1,000 | 1,012 | ||||||
Caterpillar Financial Services Corp., 4.25%, Due 2/8/2013 |
500 | 529 | ||||||
Cellco Partnership / Verizon Wireless Capital LLC, 5.25%, Due 2/1/2012 |
1,000 | 1,035 | ||||||
Comcast Cable Communications Holdings, Inc., 8.375%, Due 3/15/2013 |
1,365 | 1,539 | ||||||
Daimler Finance North America LLC, |
||||||||
5.75%, Due 9/8/2011 |
1,000 | 1,018 | ||||||
0.919%, Due 3/28/2014A B |
2,000 | 2,001 | ||||||
Devon Financing Corp ULC, 6.875%, Due 9/30/2011 |
1,000 | 1,026 | ||||||
EOG Resources Canada, Inc., 4.75%, Due 3/15/2014B |
1,000 | 1,084 | ||||||
France Telecom S.A., 4.375%, Due 7/8/2014 |
1,000 | 1,081 | ||||||
General Mills, Inc., 5.25%, Due 8/15/2013 |
1,000 | 1,089 | ||||||
Hewlett-Packard Co., 4.50%, Due 3/1/2013A |
1,000 | 1,066 | ||||||
John Deere Capital Corp., 5.25%, Due 10/1/2012 |
1,000 | 1,062 | ||||||
Johnson Controls, Inc., 1.75%, Due 3/1/2014 |
500 | 502 | ||||||
Kraft Foods, Inc., 5.625%, Due 11/1/2011 |
64 | 66 | ||||||
Nissan Motor Acceptance Corp., 4.50%, Due 1/30/2015B |
1,000 | 1,051 | ||||||
Quest Diagnostics, Inc., 1.159%, Due 3/24/2014A |
1,000 | 1,005 | ||||||
Telefonica Emisiones SAU, 0.641%, Due 2/4/2013A |
1,000 | 992 |
37
Par Amount | Value | |||||||
($000) | ($000) | |||||||
Time Warner Cable, Inc., 5.40%, Due 7/2/2012 |
$ | 1,000 | $ | 1,052 | ||||
Tyco International Finance S.A., 4.125%, Due 10/15/2014 |
500 | 535 | ||||||
Union Pacific Corp., |
||||||||
6.50%, Due 4/15/2012 |
500 | 527 | ||||||
5.45%, Due 1/31/2013 |
1,000 | 1,076 | ||||||
Verizon Communications, Inc., 0.919%, Due 3/28/2014A |
3,000 | 3,030 | ||||||
Volkswagen International Finance N.V., |
||||||||
1.625%, Due 8/12/2013B |
1,000 | 1,007 | ||||||
0.917%, Due 4/1/2014A B |
2,000 | 2,007 | ||||||
Xerox Corp., 5.65%, Due 5/15/2013 |
300 | 324 | ||||||
32,934 | ||||||||
Utilities - 2.58% |
||||||||
Dominion Resources, Inc., 5.70%, Due 9/17/2012 |
1,000 | 1,063 | ||||||
EDF S.A., 5.50%, Due 1/26/2014B |
1,000 | 1,099 | ||||||
Midamerican Energy Holdings Co., 3.15%, Due 7/15/2012 |
1,000 | 1,028 | ||||||
NextEra Energy Capital Holdings, Inc., 0.712%, Due 11/9/2012A |
1,000 | 1,003 | ||||||
Pacific Gas & Electric Co., 6.25%, Due 12/1/2013 |
730 | 808 | ||||||
5,001 | ||||||||
Total Corporate Obligations (Cost $87,518) |
88,920 | |||||||
ASSET-BACKED SECURITIES - 20.72% |
||||||||
Ally Master Owner Trust, 1.969%, Due 1/15/2015, 2010-1 AA B |
3,500 | 3,569 | ||||||
Bank of America Auto Trust, |
||||||||
2.67%, Due 7/15/2013, 2009-1A A3B |
569 | 574 | ||||||
2.13%, Due 9/15/2013, 2009-2A A3B |
688 | 693 | ||||||
BMW Floorplan Master Owner Trust, 1.369%, Due 9/15/2014, 2009-1A AA B |
2,000 | 2,019 | ||||||
Capital One Multi-Asset Execution Trust, |
||||||||
3.20%, Due 4/15/2014, 2009-A2 A2 |
2,000 | 2,007 | ||||||
4.70%, Due 6/15/2015, 2005-A7 A7 |
2,300 | 2,418 | ||||||
CarMax Auto Owner Trust, |
||||||||
0.83%, Due 11/15/2012, 2010-1 A2 |
369 | 369 | ||||||
0.72%, Due 11/15/2013, 2011-1 A2 |
1,000 | 1,001 | ||||||
Chase Issuance Trust, 1.769%, Due 4/15/2014, 2009-A2 A2A |
2,000 | 2,027 | ||||||
Citibank Credit Card Issuance Trust, 2.70%, Due 6/24/2013, 2009-A3 A3 |
2,000 | 2,007 | ||||||
Discover Card Master Trust, 1.519%, Due 2/17/2015, 2009-A2 AA |
2,000 | 2,027 | ||||||
Ford Credit Auto Owner Trust, 2.17%, Due 10/15/2013, 2009-D A3 |
797 | 805 | ||||||
Ford Credit Floorplan Master Owner Trust, |
||||||||
1.769%, Due 9/15/2014, 2009-2 AA |
3,200 | 3,249 | ||||||
0.819%, Due 2/15/2016, 2011-1 A2A |
2,000 | 2,000 | ||||||
GE Capital Credit Card Master Note Trust, 3.69%, Due 7/15/2015, 2009-2 A |
4,300 | 4,450 | ||||||
GE Equipment Midticket LLC, 2.34%, Due 6/17/2013, 2009-1 A3 |
564 | 569 | ||||||
GE Equipment Small Ticket LLC, 1.45%, Due 1/21/2018, 2011-1 A3B |
1,000 | 1,003 | ||||||
Harley-Davidson Motorcycle Trust, 5.52%, Due 11/15/2013, 2007-3 A4 |
1,061 | 1,087 | ||||||
Honda Auto Receivables Owner Trust, 2.31%, Due 5/15/2013, 2009-3 A3 |
1,024 | 1,034 | ||||||
Mercedes-Benz Auto Receivables Trust, 0.70%, Due 8/15/2012, 2010-1 A2 |
503 | 503 | ||||||
Nissan Auto Lease Trust, |
||||||||
1.12%, Due 12/15/2013, 2010-B A3 |
1,000 | 1,004 | ||||||
2.07%, Due 1/15/2015, 2009-B A3 |
1,452 | 1,457 | ||||||
Nissan Master Owner Trust Receivables, 1.369%, Due 1/15/2015, 2010-AA AA B |
3,000 | 3,034 | ||||||
Volkswagen Auto Loan Enhanced Trust, |
||||||||
0.66%, Due 5/21/2012, 2010-1 A2 |
229 | 229 | ||||||
6.24%, Due 7/20/2015, 2008-2 A4A |
1,000 | 1,059 | ||||||
Total Asset-Backed Securities (Cost $39,900) |
40,194 | |||||||
NON-AGENCY MORTGAGE-BACKED OBLIGATIONS - 2.47% |
||||||||
Banc of America Commercial Mortgage, Inc., |
||||||||
4.561%, Due 11/10/2041, 2004-5 A3 |
883 | 892 | ||||||
5.634%, Due 4/10/2049, 2007-2 A2 |
561 | 573 | ||||||
GS Mortgage Securities Corp II, 2.716%, Due 2/10/2021, 2011-ALF AB |
1,500 | 1,509 |
38
Par Amount | Value | |||||||
($000) | ($000) | |||||||
JP Morgan Chase Commercial Mortgage Securities Corp., 3.853%, Due 6/15/2043, 2010-C1 A1B |
$ | 982 | $ | 1,019 | ||||
NCUA Guaranteed Notes, 1.84%, Due 10/7/2020, 2010-R1 2A |
794 | 797 | ||||||
Total Non-Agency Mortgage-Backed Obligations (Cost $4,748) |
4,790 | |||||||
U.S. AGENCY OBLIGATIONS - 14.40% |
||||||||
Government National Mortgage Association - 14.40% |
||||||||
4.968%, Due 12/16/2021 2006-18 A |
167 | 168 | ||||||
4.201%, Due 8/16/2026 2006-9 A |
182 | 182 | ||||||
1.864%, Due 8/16/2031 2010-141 A |
3,544 | 3,559 | ||||||
2.239%, Due 12/16/2031 2009-115 IO |
2,979 | 3,015 | ||||||
2.21%, Due 11/16/2034 2011-16 A |
2,988 | 3,022 | ||||||
1.692%, Due 11/16/2035 2009-148 A |
2,971 | 2,972 | ||||||
2.21%, Due 12/16/2035 2011-10 Z |
2,994 | 3,026 | ||||||
2.782%, Due 6/16/2036 2010-13 AD |
1,942 | 1,988 | ||||||
3.069%, Due 6/16/2036 2010-52 A |
2,904 | 3,016 | ||||||
2.45%, Due 7/16/2038 2011-49 A |
3,000 | 3,043 | ||||||
2.989%, Due 3/16/2039 2010-71 AC |
1,883 | 1,921 | ||||||
3.210%, Due 10/16/2039 2010-22 AB |
1,959 | 2,026 | ||||||
Total U.S. Agency Obligations (Cost $27,721) |
27,938 | |||||||
U.S. TREASURY OBLIGATIONS - 10.30% |
||||||||
2.50%, Due 3/31/2015 |
11,500 | 11,954 | ||||||
1.75%, Due 7/31/2015 |
8,000 | 8,038 | ||||||
Total U.S. Treasury Obligations (Cost $19,563) |
19,992 | |||||||
Shares | ||||||||
SHORT-TERM INVESTMENTS - 5.77% (Cost $11,202) |
||||||||
JPMorgan U.S. Government Money Market Fund |
11,201,584 | 11,202 | ||||||
TOTAL INVESTMENTS - 99.49% (Cost $190,651) |
193,036 | |||||||
OTHER
ASSETS, NET OF LIABILITIES - 0.51% |
971 | |||||||
TOTAL NET
ASSETS - 100.00% |
$ | 194,007 | ||||||
Percentages are stated as a percent of net assets. |
A | The coupon rate shown on floating or adjustable rate securities represents the rate at period end. The due date on these types of securities reflects the final maturity date. | |
B | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $48,570 or 25.04% of net assets. The Fund has no right to demand registration of these securities. |
39
Retirement | ||||||||||||||||
High Yield | Income and | Intermediate | Short-Term | |||||||||||||
Bond Fund | Appreciation Fund | Bond Fund | Bond Fund | |||||||||||||
Assets: |
||||||||||||||||
Investments in unaffiliated securities, at value A |
$ | 141,172 | $ | 149,532 | $ | 282,009 | $ | 193,036 | ||||||||
Receivable for investments sold |
3,453 | 1,059 | 309 | | ||||||||||||
Dividends and interest receivable |
2,952 | 1,096 | 2,225 | 702 | ||||||||||||
Receivable for fund shares sold |
226 | 97 | 620 | 365 | ||||||||||||
Receivable for tax reclaims |
3 | 7 | 7 | 3 | ||||||||||||
Receivable for expense reimbursement (Note 2) |
| | | 2 | ||||||||||||
Prepaid expenses |
45 | 50 | 98 | 88 | ||||||||||||
Total assets |
147,851 | 151,841 | 285,268 | 194,196 | ||||||||||||
Liabilities: |
||||||||||||||||
Payable for investments purchased |
4,728 | 704 | 518 | | ||||||||||||
Payable for fund shares redeemed |
180 | 45 | 6 | 114 | ||||||||||||
Dividends payable |
49 | 6 | 1 | 3 | ||||||||||||
Management and investment advisory fees payable (Note 2) |
46 | 36 | 47 | 31 | ||||||||||||
Administrative service and service fees payable (Note 2) |
19 | 64 | 12 | 21 | ||||||||||||
Professional fees payable |
15 | 14 | 13 | 12 | ||||||||||||
Trustee fees payable |
5 | | 1 | 2 | ||||||||||||
Other liabilities |
5 | 7 | 3 | 6 | ||||||||||||
Total liabilities |
5,047 | 876 | 601 | 189 | ||||||||||||
Net Assets |
$ | 142,804 | $ | 150,965 | $ | 284,667 | $ | 194,007 | ||||||||
Analysis of Net Assets: |
||||||||||||||||
Paid-in-capital |
138,998 | 142,293 | 275,671 | 199,847 | ||||||||||||
Undistributed net investment income |
502 | (194 | ) | 501 | (179 | ) | ||||||||||
Accumulated net realized gain (loss) |
(3,395 | ) | (260 | ) | (198 | ) | (8,046 | ) | ||||||||
Unrealized appreciation of investments, futures contracts, and
foreign currency |
6,699 | 9,126 | 8,693 | 2,385 | ||||||||||||
Net assets |
$ | 142,804 | $ | 150,965 | $ | 284,667 | $ | 194,007 | ||||||||
Shares outstanding (no par value): |
||||||||||||||||
Institutional Class |
4,778,874 | N/A | 26,191,649 | 18,229,382 | ||||||||||||
Y Class |
754 | 47,413 | 3,025 | 38,863 | ||||||||||||
Investor Class |
1,141,097 | 13,674,133 | 311,157 | 3,576,543 | ||||||||||||
AMR Class |
9,411,491 | N/A | N/A | N/A | ||||||||||||
A Class |
7,452 | 40,311 | 38,668 | 155,780 | ||||||||||||
C Class |
21,786 | 97,004 | 20,420 | 30,871 | ||||||||||||
Net asset value, offering and redemption price per share: |
||||||||||||||||
Institutional Class |
$ | 9.29 | N/A | $ | 10.72 | $ | 8.80 | |||||||||
Y Class |
$ | 9.30 | $ | 10.88 | $ | 10.76 | $ | 8.82 | ||||||||
Investor Class |
$ | 9.30 | $ | 10.89 | $ | 10.70 | $ | 8.81 | ||||||||
AMR Class |
$ | 9.30 | N/A | N/A | N/A | |||||||||||
A Class (net asset value and redemption price) |
$ | 9.31 | $ | 10.90 | $ | 10.69 | $ | 8.80 | ||||||||
A Class (offering price) |
$ | 9.77 | $ | 11.44 | $ | 11.22 | $ | 9.03 | ||||||||
C Class |
$ | 9.29 | $ | 10.91 | $ | 10.70 | $ | 8.81 | ||||||||
A Cost of investments in unaffiliated securities |
$ | 134,473 | $ | 140,406 | $ | 273,316 | $ | 190,651 |
40
Retirement | ||||||||||||||||
High Yield | Income and | Intermediate | Short-Term | |||||||||||||
Bond Fund | Appreciation Fund | Bond Fund | Bond Fund | |||||||||||||
Investment Income: |
||||||||||||||||
Dividend income from unaffiliated securities (net of foreign taxes) A |
$ | 13 | $ | 137 | $ | 1 | $ | 1 | ||||||||
Interest income |
7,494 | 2,131 | 4,899 | 1,850 | ||||||||||||
Total investment income |
7,507 | 2,268 | 4,900 | 1,851 | ||||||||||||
Expenses: |
||||||||||||||||
Management and investment advisory fees (Note 2) |
337 | 215 | 281 | 161 | ||||||||||||
Administrative service fees (Note 2): |
||||||||||||||||
Institutional Class |
63 | | 71 | 35 | ||||||||||||
Y Class |
| 1 | | | ||||||||||||
Investor Class |
64 | 201 | 5 | 36 | ||||||||||||
A Class |
| 1 | 1 | | ||||||||||||
AMR Class |
21 | | | | ||||||||||||
C Class |
| 2 | 1 | 1 | ||||||||||||
Transfer agent fees: |
||||||||||||||||
Institutional Class |
3 | | 7 | 2 | ||||||||||||
Y Class |
2 | 2 | | 2 | ||||||||||||
Investor Class |
3 | 4 | | 2 | ||||||||||||
AMR Class |
3 | | | | ||||||||||||
A Class |
2 | 2 | | 2 | ||||||||||||
C Class |
2 | | | 2 | ||||||||||||
Custody and fund accounting fees |
12 | 9 | 20 | 9 | ||||||||||||
Professional fees |
19 | 19 | 20 | 12 | ||||||||||||
Registration fees and expenses |
38 | 30 | 26 | 20 | ||||||||||||
Service fees (Note 2): |
||||||||||||||||
Investor Class |
53 | 245 | 4 | 30 | ||||||||||||
C Class |
| 1 | | | ||||||||||||
Distribution fees (Note 2): |
||||||||||||||||
C Class |
| 5 | 1 | 1 | ||||||||||||
Prospectus and shareholder reports |
7 | 2 | 8 | 1 | ||||||||||||
Trustee fees |
7 | 4 | 8 | 3 | ||||||||||||
Other expenses |
9 | 9 | 8 | 4 | ||||||||||||
Total expenses |
645 | 752 | 461 | 323 | ||||||||||||
Net (fees waived and expenses reimbursed) (Note 2) |
(5 | ) | (3 | ) | (1 | ) | (14 | ) | ||||||||
Net expenses |
640 | 749 | 460 | 309 | ||||||||||||
Net investment income |
6,867 | 1,519 | 4,440 | 1,542 | ||||||||||||
Realized and unrealized gain (loss) on investments: |
||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||
Investments |
7,264 | 1,350 | 99 | 585 | ||||||||||||
Change in net unrealized appreciation or depreciation of: |
||||||||||||||||
Investments |
(3,074 | ) | 265 | (4,979 | ) | (1,545 | ) | |||||||||
Net gain (loss) on investments |
4,190 | 1,615 | (4,880 | ) | (960 | ) | ||||||||||
Net increase (decrease) in net assets resulting from operations |
$ | 11,057 | $ | 3,134 | $ | (440 | ) | $ | 582 | |||||||
A Foreign taxes |
$ | | $ | 2 | $ | | $ | |
41
High Yield Bond Fund | Retirement Income and Appreciation Fund |
|||||||||||||||
Six Months Ended | Year Ended | Six Months Ended | Year Ended | |||||||||||||
April 30, 2011 | October 31, 2010 | April 30, 2011 | October 31, 2010 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
Increase (Decrease) in Net Assets: |
||||||||||||||||
Operations: |
||||||||||||||||
Net investment income |
$ | 6,867 | $ | 19,682 | $ | 1,519 | $ | 3,236 | ||||||||
Net realized gain on investments, futures
contracts, and foreign currency transactions |
7,264 | 17,096 | 1,350 | 871 | ||||||||||||
Change in net unrealized appreciation or
depreciation of investments, futures contracts, and
foreign currency translations |
(3,074 | ) | (1,037 | ) | 265 | 5,410 | ||||||||||
Net increase in net assets resulting from
operations |
11,057 | 35,741 | 3,134 | 9,517 | ||||||||||||
Distributions to Shareholders: |
||||||||||||||||
Net investment income: |
||||||||||||||||
Institutional Class |
(1,687 | ) | (3,870 | ) | | | ||||||||||
Y Class |
| | (7 | ) | (2 | ) | ||||||||||
Investor Class |
(1,634 | ) | (6,758 | ) | (1,813 | ) | (3,375 | ) | ||||||||
AMR Class |
(3,538 | ) | (9,049 | ) | | | ||||||||||
A Class |
(2 | ) | | (4 | ) | | ||||||||||
C Class |
(3 | ) | | (9 | ) | (1 | ) | |||||||||
Net distributions to shareholders |
(6,864 | ) | (19,677 | ) | (1,833 | ) | (3,378 | ) | ||||||||
Capital Share Transactions: |
||||||||||||||||
Proceeds from sales of shares |
17,637 | 256,394 | 30,399 | 41,365 | ||||||||||||
Reinvestment of dividends and distributions |
6,346 | 17,683 | 1,721 | 2,727 | ||||||||||||
Cost of shares redeemed |
(71,060 | ) | (335,193 | ) | (10,046 | ) | (16,368 | ) | ||||||||
Redemption fees |
17 | 74 | | | ||||||||||||
Net increase (decrease) in net assets from
capital share transactions |
(47,060 | ) | (61,042 | ) | 22,074 | 27,724 | ||||||||||
Net increase (decrease) in net assets |
(42,867 | ) | (44,978 | ) | 23,375 | 33,863 | ||||||||||
Net Assets: |
||||||||||||||||
Beginning of period |
185,671 | 230,649 | 127,590 | 93,727 | ||||||||||||
End of Period * |
$ | 142,804 | $ | 185,671 | $ | 150,965 | $ | 127,590 | ||||||||
* Includes undistributed net investment income (loss) of |
$ | 502 | $ | 503 | $ | (194 | ) | $ | (62 | ) | ||||||
42
Intermediate Bond Fund | Short-Term Bond Fund | |||||||||||||||
Six Months Ended | Year Ended | Six Months Ended | Year Ended | |||||||||||||
April 30, 2011 | October 31, 2010 | April 30, 2011 | October 31, 2010 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
Increase (Decrease) in Net Assets: |
||||||||||||||||
Operations: |
||||||||||||||||
Net investment income |
$ | 4,440 | $ | 8,674 | $ | 1,542 | $ | 3,569 | ||||||||
Net realized gain on investments, futures
contracts, and foreign currency transactions |
99 | 5,763 | 585 | 1,400 | ||||||||||||
Change in net unrealized appreciation or
depreciation of investments, futures contracts, and
foreign currency translations |
(4,979 | ) | 5,150 | (1,545 | ) | 837 | ||||||||||
Net increase (decrease) in net assets
resulting from operations |
(440 | ) | 19,587 | 582 | 5,806 | |||||||||||
Distributions to Shareholders: |
||||||||||||||||
Net investment income: |
||||||||||||||||
Institutional Class |
(4,663 | ) | (8,812 | ) | (1,703 | ) | (3,855 | ) | ||||||||
Y Class |
(3 | ) | (2 | ) | (2 | ) | | |||||||||
Investor Class |
(50 | ) | (89 | ) | (245 | ) | (945 | ) | ||||||||
A Class |
(3 | ) | | (2 | ) | | ||||||||||
C Class |
(2 | ) | (1 | ) | (2 | ) | | |||||||||
Net realized gain on investments: |
||||||||||||||||
Institutional Class |
(4,838 | ) | | | | |||||||||||
Y Class |
(6 | ) | | | | |||||||||||
Investor Class |
(63 | ) | | | | |||||||||||
A Class |
(2 | ) | | | | |||||||||||
C Class |
(6 | ) | | | | |||||||||||
Net distributions to shareholders |
(9,636 | ) | (8,904 | ) | (1,954 | ) | (4,800 | ) | ||||||||
Capital Share Transactions: |
||||||||||||||||
Proceeds from sales of shares |
31,439 | 210,797 | 70,050 | 84,366 | ||||||||||||
Reinvestment of dividends and distributions |
9,614 | 8,901 | 1,932 | 4,725 | ||||||||||||
Cost of shares redeemed |
(41,626 | ) | (148,261 | ) | (31,188 | ) | (90,705 | ) | ||||||||
Net increase (decrease) in net assets from
capital share transactions |
(573 | ) | 71,437 | 40,794 | (1,614 | ) | ||||||||||
Net increase (decrease) in net assets |
(10,649 | ) | 82,120 | 39,422 | (608 | ) | ||||||||||
Net Assets: |
||||||||||||||||
Beginning of period |
295,316 | 213,196 | 154,585 | 155,193 | ||||||||||||
End of Period * |
$ | 284,667 | $ | 295,316 | $ | 194,007 | $ | 154,585 | ||||||||
| ||||||||||||||||
* Includes undistributed net investment income (loss) of |
$ | 501 | ) | $ | 501 | $ | (179 | ) | $ | (539 | ) | |||||
43
Class: | Offered to: | |
Institutional Class
|
Investors making an initial investment of $250,000 | |
Y Class
|
Investors making an initial investment of $100,000 | |
Investor Class
|
General public and investors investing through an intermediary | |
A Class
|
General public and investors investing through an intermediary with applicable sales charges | |
C Class
|
General public and investors investing through an intermediary with applicable sales charges | |
AMR Class
|
Investors in the tax-exempt retirement and benefit plans of the Manager, AMR Corporation, and its affiliates |
44
High Yield Bond | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks |
$ | 902 | $ | | $ | | $ | 902 | ||||||||
Preferred Stocks |
469 | | | 469 | ||||||||||||
Corporate Obligations |
| 134,188 | | 134,188 | ||||||||||||
Convertible Obligations |
| 1,252 | | 1,252 | ||||||||||||
Short Term Investments |
4,361 | | | 4,361 | ||||||||||||
Total Investments in Securities |
$ | 5,584 | $ | 135,588 | $ | | $ | 141,172 | ||||||||
Retirement Income and Appreciation Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks |
$ | 8,951 | $ | | $ | | $ | 8,951 | ||||||||
Convertible Preferred |
975 | | | 975 | ||||||||||||
Preferred Stock |
2,123 | | | 2,123 | ||||||||||||
Corporate Obligations |
| 50,884 | | 50,884 | ||||||||||||
Convertible Obligations |
| 19,526 | | 19,526 | ||||||||||||
Asset-Backed Obligations |
| 4,444 | | 4,444 | ||||||||||||
Non-Agency Mortgage Backed Obligations |
| 5,636 | | 5,636 | ||||||||||||
U.S. Agency Mortgage Backed Obligations |
| 18,657 | | 18,657 | ||||||||||||
U.S. Treasury Obligations |
| 29,168 | | 29,168 | ||||||||||||
Short Term Investments |
2,173 | | | 2,173 | ||||||||||||
Total Investments in Securities |
$ | 14,222 | $ | 135,310 | $ | | $ | 149,532 | ||||||||
Intermediate Bond Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Obligations |
$ | | $ | 125,290 | $ | | $ | 125,290 | ||||||||
Asset-Backed Securities |
| 8,701 | | 8,701 | ||||||||||||
Non-Agency Mortgage Backed Obligations |
| 12,637 | | 12,637 | ||||||||||||
U.S. Agency Mortgage Backed Obligations |
| 68,653 | | 68,653 | ||||||||||||
U.S. Agency Obligations |
| 977 | | 977 | ||||||||||||
U.S. Treasury Obligations |
| 59,457 | | 59,457 | ||||||||||||
Short Term Investments |
6,293 | | | 6,293 | ||||||||||||
Total Investments in Securities |
$ | 6,293 | $ | 275,717 | $ | | $ | 282,009 | ||||||||
Short-Term Bond Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Obligations |
$ | | $ | 89,920 | $ | | $ | 89,920 | ||||||||
Asset-Backed Securities |
| 40,194 | | 40,194 | ||||||||||||
Non-Agency Mortgage Backed Obligations |
| 4,790 | | 4,790 | ||||||||||||
U.S. Agency Mortgage Backed Obligations |
| 27,938 | | 27,938 | ||||||||||||
U.S. Treasury Obligations |
| 19,992 | | 19,992 | ||||||||||||
Short Term Investments |
11,202 | | | 11,202 | ||||||||||||
Total Investments in Securities |
$ | 11,202 | $ | 181,834 | $ | | $ | 193,036 | ||||||||
45
46
Amounts paid | Net Amounts | |||||||||||||||
Management | Management | to Investment | Retained by | |||||||||||||
Fee Rate | Fee | Advisors | Manager | |||||||||||||
High Yield Bond |
0.30%-0.45 | % | $ | 337 | $ | 294 | $ | 43 | ||||||||
Retirement Income and Appreciation |
0.20%-0.80 | % | 215 | 181 | 34 | |||||||||||
Intermediate Bond |
0.20 | % | 281 | 115 | 166 |
47
Expense Caps | ||||||||||
3/1/10 to | 3/1/11 to | Reimbursed | Expiration of | |||||||
Fund | Class | 2/28/11 | 4/30/11 | Expenses | Reimbursements | |||||
High Yield Bond |
Y* | N/A | N/A | $1,657 | 2014 | |||||
High Yield Bond |
A | 1.12% | 1.12% | 1,709 | 2014 | |||||
High Yield Bond |
C | 1.87% | 1.87% | 1,692 | 2014 | |||||
Retirement Income and Appreciation |
Y* | N/A | N/A | 1,655 | 2014 | |||||
Retirement Income and Appreciation |
A | N/A | 1.14% | 1,713 | 2014 | |||||
Retirement Income and Appreciation |
C | N/A | 1.96% | 31 | 2014 | |||||
Intermediate Bond |
Y | 0.65% | 0.65% | 18 | 2014 | |||||
Intermediate Bond |
Investor | 0.79% | 0.79% | 588 | 2014 | |||||
Intermediate Bond |
A | 0.99% | 0.99% | 111 | 2014 | |||||
Intermediate Bond |
C | 1.74% | 1.74% | 146 | 2014 | |||||
Short-Term Bond |
Y | 0.65% | N/A | 1,676 | 2014 | |||||
Short-Term Bond |
Investor | 0.79% | 0.79% | 8,430 | 2014 | |||||
Short-Term Bond |
A | 0.85% | 0.85% | 1,944 | 2014 | |||||
Short Term Bond |
C | 1.60% | 1.60% | 1,929 | 2014 |
* | Voluntary reimbursement |
48
Retirement Income and | ||||||||||||||||
High Yield Bond | Appreciation | |||||||||||||||
Six Months | Six Months | |||||||||||||||
Ended | Year Ended | Ended | Year Ended | |||||||||||||
April 30, | October 31, | April 30, | October 31, | |||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
Distributions paid from: |
||||||||||||||||
Ordinary income* |
||||||||||||||||
Institutional Class |
$ | 1,687 | $ | 3,870 | $ | | $ | | ||||||||
Y Class |
| | 7 | 2 | ||||||||||||
Investor Class |
1,634 | 6,758 | 1,813 | 3,375 | ||||||||||||
A Class |
2 | | 4 | | ||||||||||||
C Class |
3 | | 9 | 1 | ||||||||||||
AMR Class |
3,538 | 9,049 | | | ||||||||||||
Long-term capital gain |
||||||||||||||||
Institutional Class |
| | | | ||||||||||||
Y Class |
| | | | ||||||||||||
Investor Class |
| | | | ||||||||||||
A Class |
| | | | ||||||||||||
C Class |
| | | | ||||||||||||
AMR Class |
| | | | ||||||||||||
Total distributions paid |
$ | 6,864 | $ | 19,677 | $ | 1,833 | $ | 3,378 | ||||||||
Intermediate Bond | Short-Term Bond | |||||||||||||||
Six Months | Six Months | |||||||||||||||
Ended | Year Ended | Ended | Year Ended | |||||||||||||
April 30, | October 31, | April 30, | October 31, | |||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
Distributions paid from: |
||||||||||||||||
Ordinary income* |
||||||||||||||||
Institutional Class |
$ | 7,973 | | $ | 1,703 | 2 | ||||||||||
Y Class |
7 | 2 | ||||||||||||||
Investor Class |
93 | 245 | ||||||||||||||
A Class |
4 | 2 | ||||||||||||||
C Class |
6 | 2 | ||||||||||||||
Long-term capital gain |
||||||||||||||||
Institutional Class |
1,528 | 2 | | | ||||||||||||
Y Class |
2 | 89 | | 945 | ||||||||||||
Investor Class |
20 | | | | ||||||||||||
A Class |
1 | 1 | | | ||||||||||||
C Class |
2 | | | | ||||||||||||
Total distributions paid |
$ | 9,636 | $ | 8,904 | $ | 1,954 | $ | 4,800 | ||||||||
* | For tax purposes, short-term capital gains are considered ordinary income distributions. |
49
Retirement | ||||||||||||||||
High Yield | Income and | Intermediate | Short-Term | |||||||||||||
Bond | Appreciation | Bond | Bond | |||||||||||||
Cost basis of investments for federal
income tax purpose |
$ | 134,982 | $ | 140,785 | $ | 273,336 | $ | 191,362 | ||||||||
Unrealized appreciation |
10,913 | 9,292 | 9,626 | 2,219 | ||||||||||||
Unrealized depreciation |
(4,723 | ) | (545 | ) | (953 | ) | (545 | ) | ||||||||
Net unrealized appreciation (depreciation) |
6,190 | 8,747 | 8,673 | 1,674 | ||||||||||||
Undistributed ordinary income |
552 | 185 | 502 | 535 | ||||||||||||
Undistributed long-term gain (loss) |
(2,887 | ) | (254 | ) | (178 | ) | (8,046 | ) | ||||||||
Other temporary differences |
(49 | ) | (6 | ) | (1 | ) | (3 | ) | ||||||||
Distributable earnings (losses) |
$ | 3,806 | $ | 8,672 | $ | 8,996 | $ | (5,840 | ) | |||||||
Retirement | ||||||||||||||||
High Yield | Income and | Intermediate | Short-Term | |||||||||||||
Bond | Appreciation | Bond | Bond | |||||||||||||
Paid-in-capital |
$ | | $ | (325 | ) | $ | | $ | | |||||||
Undistributed net investment income |
(4 | ) | 182 | 281 | 772 | |||||||||||
Accumulated net realized gain (loss) |
4 | 144 | (281 | ) | (772 | ) | ||||||||||
Unrealized appreciation (depreciation) of investments and futures contracts |
| (1 | ) | | |
Fund | 2014 | 2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||
High Yield Bond |
| | | 2,887 | | 2,887 | ||||||||||||||||||
Retirement Income and Appreciation |
| | | 254 | | 254 | ||||||||||||||||||
Intermediate Bond |
| | | | 178 | 178 | ||||||||||||||||||
Short-Term Bond |
2,194 | 467 | 5,198 | | 187 | 8,046 |
Retirement | ||||||||||||||||
High Yield | Income and | Intermediate | Short-Term | |||||||||||||
Bond | Appreciation | Bond | Bond | |||||||||||||
Purchases (excluding U.S. government securities) |
$ | 98,797 | $ | 45,247 | $ | 130,714 | $ | 94,036 | ||||||||
Sales and maturities (excluding U.S. government securities) |
144,289 | 28,876 | 133,262 | 63,816 | ||||||||||||
Purchases of U.S. government securities |
| 11,400 | 67,375 | 4,000 | ||||||||||||
Sales and maturities of U.S. government securities |
| 6,225 | 79,375 | 2,000 |
50
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||
High Yield Bond Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
457 | $ | 4,183 | 1 | $ | 6 | 346 | $ | 3,160 | |||||||||||||||
Reinvestment of dividends |
134 | 1,230 | | | 173 | 1,574 | ||||||||||||||||||
Shares redeemed |
(391 | ) | (3,564 | )* | | | * | (5,354 | ) | (49,172 | )* | |||||||||||||
Net increase (decrease)
in shares outstanding |
200 | $ | 1,849 | 1 | $ | 6 | (4,835 | ) | $ | (44,438 | ) | |||||||||||||
AMR Class | A Class | C Class | ||||||||||||||||||||||
High Yield Bond Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
1,106 | $ | 10,098 | 3 | $ | 28 | 18 | $ | 162 | |||||||||||||||
Reinvestment of dividends |
387 | 3,538 | | 2 | | 2 | ||||||||||||||||||
Shares redeemed |
(2,018 | ) | (18,305 | )* | | (1 | )* | | (1 | )* | ||||||||||||||
Net increase (decrease) in shares outstanding |
(525 | ) | $ | (4,669 | ) | 3 | $ | 29 | 18 | $ | 163 | |||||||||||||
* | Net of Redemption Fees |
Y Class | Investor Class | A Class | C Class | |||||||||||||||||||||||||||||
Retirement Income and | ||||||||||||||||||||||||||||||||
Appreciation Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
13 | $ | 139 | 2,781 | $ | 29,822 | 25 | $ | 265 | 16 | $ | 173 | ||||||||||||||||||||
Reinvestment of dividends |
| 7 | 159 | 1,703 | | 4 | 1 | 7 | ||||||||||||||||||||||||
Shares redeemed |
| (3 | ) | (921 | ) | (9,877 | ) | | (1 | ) | (16 | ) | (165 | ) | ||||||||||||||||||
Net increase in shares outstanding |
13 | $ | 143 | 2,019 | $ | 21,648 | 25 | $ | 268 | 1 | $ | 15 | ||||||||||||||||||||
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||
Intermediate Bond Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
2,845 | $ | 30,574 | 3 | $ | 26 | 39 | $ | 413 | |||||||||||||||
Reinvestment of dividends |
890 | 9,496 | 1 | 9 | 10 | 105 | ||||||||||||||||||
Shares redeemed |
(3,736 | ) | (40,217 | ) | (35 | ) | (368 | ) | (83 | ) | (885 | ) | ||||||||||||
Net increase (decrease)
in shares outstanding |
(1 | ) | $ | (147 | ) | (31 | ) | $ | (333 | ) | (34 | ) | $ | (367 | ) | |||||||||
A Class | C Class | |||||||||||||||
Intermediate Bond Fund | Shares | Amount | Shares | Amount | ||||||||||||
Shares sold |
40 | $ | 426 | | $ | | ||||||||||
Reinvestment of dividends |
| 1 | | 3 | ||||||||||||
Shares redeemed |
(5 | ) | (59 | ) | (9 | ) | (97 | ) | ||||||||
Net increase (decrease) in
shares outstanding |
35 | $ | 368 | (9 | ) | $ | (94 | ) | ||||||||
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||
Short-Term Bond Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
5,928 | $ | 52,119 | 33 | $ | 290 | 1,771 | $ | 15,602 | |||||||||||||||
Reinvestment of dividends |
193 | 1,701 | | 2 | 26 | 227 | ||||||||||||||||||
Shares redeemed |
(2,665 | ) | (23,470 | ) | | (1 | ) | (826 | ) | (7,276 | ) | |||||||||||||
Net increase in shares outstanding |
3,456 | $ | 30,350 | 33 | $ | 291 | 971 | $ | 8,553 | |||||||||||||||
51
A Class | C Class | |||||||||||||||
Short-Term Bond Fund | Shares | Amount | Shares | Amount | ||||||||||||
Shares sold |
175 | $ | 1,540 | 57 | $ | 499 | ||||||||||
Reinvestment of dividends |
| 1 | | 1 | ||||||||||||
Shares redeemed |
(24 | ) | (213 | ) | (26 | ) | (228 | ) | ||||||||
Net increase in shares outstanding |
151 | $ | 1,328 | 31 | $ | 272 | ||||||||||
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||
High Yield Bond Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
1,192 | $ | 10,318 | | $ | 1 | 10,613 | $ | 91,795 | |||||||||||||||
Reinvestment of dividends |
228 | 1,978 | | | 767 | 6,656 | ||||||||||||||||||
Shares redeemed |
(2,453 | ) | (21,256 | )* | | | * | (16,175 | ) | (139,538 | )* | |||||||||||||
Net increase (decrease)
in shares outstanding |
(1,033 | ) | $ | (8,960 | ) | | $ | 1 | (4,795 | ) | $ | (41,087 | ) | |||||||||||
AMR Class | A Class | C Class | ||||||||||||||||||||||
High Yield Bond Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
17,993 | $ | 154,205 | 4 | $ | 39 | 4 | $ | 36 | |||||||||||||||
Reinvestment of dividends |
1,042 | 9,049 | | | | | ||||||||||||||||||
Shares redeemed |
(20,103 | ) | (174,325 | )* | | | * | | | * | ||||||||||||||
Net increase (decrease) in shares outstanding |
(1,068 | ) | $ | (11,071 | ) | 4 | $ | 39 | 4 | $ | 36 | |||||||||||||
* | Net of Redemption Fees |
Y Class | Investor Class | A Class | C Class | |||||||||||||||||||||||||||||
Retirement Income and | ||||||||||||||||||||||||||||||||
Appreciation Fund | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||||||||
Shares sold |
34 | $ | 357 | 3,818 | $ | 39,811 | 15 | $ | 164 | 96 | $ | 1,033 | ||||||||||||||||||||
Reinvestment of dividends |
| 2 | 262 | 2,724 | | | | 1 | ||||||||||||||||||||||||
Shares redeemed |
| | (1,567 | ) | (16,368 | ) | | | | | ||||||||||||||||||||||
Net increase in shares outstanding |
34 | $ | 359 | 2,513 | $ | 26,167 | 15 | $ | 164 | 96 | $ | 1,034 | ||||||||||||||||||||
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||
Intermediate Bond Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
19,109 | $ | 208,277 | 34 | $ | 381 | 163 | $ | 1,767 | |||||||||||||||
Reinvestment of dividends |
812 | 8,811 | | 2 | 8 | 88 | ||||||||||||||||||
Shares redeemed |
(13,473 | ) | (147,900 | ) | | (2 | ) | (33 | ) | (359 | ) | |||||||||||||
Net increase in shares outstanding |
6,448 | $ | 69,188 | 34 | $ | 381 | 138 | $ | 1,495 | |||||||||||||||
A Class | C Class | |||||||||||||||
Intermediate Bond Fund | Shares | Amount | Shares | Amount | ||||||||||||
Shares sold |
4 | $ | 46 | 29 | $ | 326 | ||||||||||
Reinvestment of dividends |
| | | | ||||||||||||
Shares redeemed |
| | | | ||||||||||||
Net increase in shares outstanding |
4 | $ | 46 | 29 | $ | 326 | ||||||||||
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||
Short-Term Bond Fund | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Shares sold |
3,254 | $ | 28,766 | 6 | $ | 51 | 6,276 | $ | 55,504 | |||||||||||||||
Reinvestment of dividends |
435 | 3,852 | | | 99 | 873 | ||||||||||||||||||
Shares redeemed |
(3,048 | ) | (26,963 | ) | | | (7,209 | ) | (63,742 | ) | ||||||||||||||
Net increase (decrease)
in shares outstanding |
641 | $ | 5,655 | 6 | $ | 51 | (834 | ) | $ | (7,365 | ) | |||||||||||||
52
A Class | C Class | |||||||||||||||
Short-Term Bond Fund | Shares | Amount | Shares | Amount | ||||||||||||
Shares sold |
5 | $ | 44 | | $ | 1 | ||||||||||
Reinvestment of dividends |
| | | | ||||||||||||
Shares redeemed |
| | | | ||||||||||||
Net increase (decrease) in
shares outstanding |
5 | $ | 44 | | $ | 1 | ||||||||||
53
Institutional Class | Y Class | Investor Class | ||||||||||||||||||||||||||||||||||||||
Six | Six | Year | ||||||||||||||||||||||||||||||||||||||
Months | Six Months | March 01 | Months | Ended | ||||||||||||||||||||||||||||||||||||
Ended | Ended | to | Ended | October | ||||||||||||||||||||||||||||||||||||
April 30, | Year Ended October 31, | April 30, | October | April 30, | 31, | |||||||||||||||||||||||||||||||||||
2011 | 2010 | 2009 | 2008A | 2007 | 2006B | 2011 | 31, 2010 | 2011 | 2010 | |||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 9.05 | $ | 8.42 | $ | 6.77 | $ | 10.11 | $ | 10.20 | $ | 10.22 | $ | 9.06 | $ | 8.63 | $ | 9.06 | $ | 8.42 | ||||||||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||||||||||||||
Net investment income |
0.37 | 0.75 | 0.79 | 0.78 | 0.77 | 0.88 | 0.37 | 0.50 | 0.35 | 0.73 | ||||||||||||||||||||||||||||||
Net gains (losses) on securities (both
realized and unrealized) |
0.23 | 0.63 | 1.66 | (3.34 | ) | (0.09 | ) | 0.09 | 0.24 | 0.43 | 0.24 | 0.64 | ||||||||||||||||||||||||||||
Total income (loss) from investment operations |
0.60 | 1.38 | 2.45 | (2.56 | ) | 0.68 | 0.97 | 0.61 | 0.93 | 0.59 | 1.37 | |||||||||||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||||||||||||||
Dividends from net investment income |
(0.36 | ) | (0.75 | ) | (0.80 | ) | (0.78 | ) | (0.77 | ) | (0.88 | ) | (0.37 | ) | (0.50 | ) | (0.35 | ) | (0.73 | ) | ||||||||||||||||||||
Distributions from net realized gains on
securities |
| | | | | (0.11 | ) | | | | | |||||||||||||||||||||||||||||
Total distributions |
(0.36 | ) | (0.75 | ) | (0.80 | ) | (0.78 | ) | (0.77 | ) | (0.99 | ) | (0.37 | ) | (0.50 | ) | (0.35 | ) | (0.73 | ) | ||||||||||||||||||||
Redemption fees added to beneficial interests |
| | | | | | | | | | ||||||||||||||||||||||||||||||
Net asset value, end of period |
$ | 9.29 | $ | 9.05 | $ | 8.42 | $ | 6.77 | $ | 10.11 | $ | 10.20 | $ | 9.30 | $ | 9.06 | $ | 9.30 | $ | 9.06 | ||||||||||||||||||||
Total return C |
6.81 | %D | 17.17 | % | 39.06 | % | (27.03 | )% | 6.85 | % | 8.78 | % | 6.83 | %D | 11.17 | %D | 6.65 | %D | 17.00 | % | ||||||||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 44,418 | $ | 41,459 | $ | 47,254 | $ | 62,138 | $ | 114,911 | $ | 231,693 | $ | 7 | $ | 1 | $ | 10,613 | $ | 54,142 | ||||||||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||||||||||||||
Expenses, net of waivers |
0.82 | % | 0.79 | % | 0.79 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.85 | % | 0.82 | %E | 1.07 | % | 1.04 | % | ||||||||||||||||||||
Expenses, before waivers |
0.82 | % | 0.79 | % | 0.79 | % | 0.85 | % | 0.86 | % | 0.85 | % | 130.81 | % | 0.82 | %E | 1.07 | % | 1.04 | % | ||||||||||||||||||||
Net investment income, net of waivers |
8.03 | % | 8.69 | % | 11.46 | % | 8.38 | % | 7.55 | % | 7.55 | % | 7.89 | % | 8.53 | %E | 7.80 | % | 8.48 | % | ||||||||||||||||||||
Net investment income (loss), before
waivers |
8.03 | % | 8.69 | % | 11.46 | % | 8.38 | % | 7.54 | % | 7.55 | % | (122.07 | )% | 8.53 | %E | 7.80 | % | 8.48 | % | ||||||||||||||||||||
Portfolio turnover rate |
61 | %D | 176 | % | 212 | % | 157 | % | 92 | % | 88 | % | 61 | %D | 176 | %F | 61 | %D | 176 | % |
A | On May 21, 2008, Post Advisory Group, LLC ceased managing a portion of the High Yield Bond Fund and on May 22, 2008 Logan Circle Partners, L.P. began managing a portion of the High Yield Bond Fund. | |
B | Franklin Advisers, Inc. was added as an investment advisor to the High Yield Bond Fund on September 12, 2006. | |
C | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
D | Not annualized. | |
E | Annualized. | |
F | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. | |
G | Portfolio turnover rate is for the period from November 1, 2006 through October 31, 2007. |
54
AMR Class | A Class | C Class | ||||||||||||||||||||||||||||||||||||||||||||||||||
Six | Six | Six | ||||||||||||||||||||||||||||||||||||||||||||||||||
Months | September | Months | May 17 | Months | September | |||||||||||||||||||||||||||||||||||||||||||||||
Ended | 04 to | Ended | to | Ended | 01 to | |||||||||||||||||||||||||||||||||||||||||||||||
April 30, | Year Ended October 31, | October | April 30, | October | April 30, | October | ||||||||||||||||||||||||||||||||||||||||||||||
2009 | 2008A | 2007 | 2006B | 2011 | 2010 | 2009 | 2008A | 31,2007 | 2011 | 31, 2010 | 2011 | 31, 2010 | ||||||||||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 6.77 | $ | 10.11 | $ | 10.21 | $ | 10.22 | $ | 9.06 | $ | 8.42 | $ | 6.77 | $ | 10.11 | $ | 9.94 | $ | 9.08 | $ | 8.67 | $ | 9.05 | $ | 8.68 | |||||||||||||||||||||||||||
0.78 | 0.75 | 0.75 | 0.85 | 0.38 | 0.78 | 0.81 | 0.80 | 0.12 | 0.35 | 0.32 | 0.32 | 0.09 | ||||||||||||||||||||||||||||||||||||||||
1.65 | (3.34 | ) | (0.10 | ) | 0.10 | 0.24 | 0.63 | 1.65 | (3.34 | ) | 0.17 | 0.23 | 0.41 | 0.24 | 0.37 | |||||||||||||||||||||||||||||||||||||
2.43 | (2.59 | ) | 0.65 | 0.95 | 0.62 | 1.41 | 2.46 | (2.54 | ) | 0.29 | 0.58 | 0.73 | 0.56 | 0.46 | ||||||||||||||||||||||||||||||||||||||
(0.78 | ) | (0.75 | ) | (0.75 | ) | (0.85 | ) | (0.38 | ) | (0.77 | ) | (0.81 | ) | (0.80 | ) | (0.12 | ) | (0.35 | ) | (0.32 | ) | (0.32 | ) | (0.09 | ) | |||||||||||||||||||||||||||
| | | (0.11 | ) | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||
(0.78 | ) | (0.75 | ) | (0.75 | ) | (0.96 | ) | (0.38 | ) | (0.77 | ) | (0.81 | ) | (0.80 | ) | (0.12 | ) | (0.35 | ) | (0.32 | ) | (0.32 | ) | (0.09 | ) | |||||||||||||||||||||||||||
| | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||
$ | 8.42 | $ | 6.77 | $ | 10.11 | $ | 10.21 | $ | 9.30 | $ | 9.06 | $ | 8.42 | $ | 6.77 | $ | 10.11 | $ | 9.31 | $ | 9.08 | $ | 9.29 | $ | 9.05 | |||||||||||||||||||||||||||
38.70 | % | (27.24 | )% | 6.52 | % | 8.63 | % | 6.94%D | 17.59 | % | 39.41 | % | (26.84 | )% | 2.94%D | 6.52%D | 8.66%D | 6.27%D | 5.31%D | |||||||||||||||||||||||||||||||||
$ | 90,736 | $ | 13,949 | $ | 28,758 | $ | 80,284 | $ | 87,494 | $ | 89,992 | $ | 92,659 | $ | 44,060 | $ | 82,322 | $ | 70 | $ | 40 | $ | 202 | $ | 37 | |||||||||||||||||||||||||||
1.01 | % | 1.10 | % | 1.08 | % | 1.08 | % | 0.57 | % | 0.54 | % | 0.53 | % | 0.58 | % | 0.61 | %E | 1.12 | % | 1.12 | %E | 1.82 | % | 1.87 | %E | |||||||||||||||||||||||||||
1.01 | % | 1.10 | % | 1.08 | % | 1.08 | % | 0.57 | % | 0.54 | % | 0.53 | % | 0.58 | % | 0.61 | %E | 8.91 | % | 1.30 | %E | 5.61 | % | 2.29 | %E | |||||||||||||||||||||||||||
9.36 | % | 8.06 | % | 7.32 | % | 7.33 | % | 8.29 | % | 8.91 | % | 10.34 | % | 8.64 | % | 7.54 | %E | 7.70 | % | 7.11 | %E | 6.77 | % | 5.40 | %E | |||||||||||||||||||||||||||
9.36 | % | 8.06 | % | 7.32 | % | 7.33 | % | 8.29 | % | 8.91 | % | 10.34 | % | 8.64 | % | 7.54 | %E | (0.09 | )% | 6.93 | %E | 2.98 | % | 4.97 | %E | |||||||||||||||||||||||||||
212 | % | 157 | % | 92 | % | 88 | % | 61 | %D | 176 | % | 212 | % | 157 | % | 92 | %G | 61 | %D | 176 | %F | 61 | %D | 176 | %F |
55
Y Class | Investor Class | |||||||||||||||||||||||||||
Six | Six | |||||||||||||||||||||||||||
Months | March 01 | Months | ||||||||||||||||||||||||||
Ended | to | Ended | ||||||||||||||||||||||||||
April 30, | October | April 30, | Year Ended October 31, | |||||||||||||||||||||||||
2011 | 31, 2010 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 10.80 | $ | 10.31 | $ | 10.81 | $ | 10.25 | $ | 8.80 | $ | 10.50 | $ | 10.25 | ||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||
Net investment income |
0.13 | 0.20 | 0.16 | 0.36 | 0.32 | 0.41 | 0.36 | |||||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
0.11 | 0.49 | 0.07 | 0.51 | 1.53 | (1.39 | ) | 0.32 | ||||||||||||||||||||
Total income (loss) from investment operations |
0.24 | 0.69 | 0.23 | 0.87 | 1.85 | (0.98 | ) | 0.68 | ||||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||
Dividends from net investment income |
(0.16 | ) | (0.20 | ) | (0.15 | ) | (0.31 | ) | (0.40 | ) | (0.49 | ) | (0.42 | ) | ||||||||||||||
Distributions from net realized gains on securities |
| | | | | (0.23 | ) | (0.01 | ) | |||||||||||||||||||
Return of capital |
| | | | | | | |||||||||||||||||||||
Total distributions |
(0.16 | ) | (0.20 | ) | (0.15 | ) | (0.31 | ) | (0.40 | ) | (0.72 | ) | (0.43 | ) | ||||||||||||||
Net asset value, end of period |
$ | 10.88 | $ | 10.80 | $ | 10.89 | $ | 10.81 | $ | 10.25 | $ | 8.80 | $ | 10.50 | ||||||||||||||
Total return A |
2.24 | %B | 6.78 | %B | 2.12 | %B | 8.60 | % | 21.50 | % | (10.02 | )% | 6.75 | % | ||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 516 | $ | 367 | $ | 148,952 | $ | 126,022 | $ | 93,727 | $ | 100,469 | $ | 99,789 | ||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||
Expenses |
0.83 | % | 0.80 | %C | 1.10 | % | 1.08 | % | 1.01 | % | 0.92 | % | 0.94 | % | ||||||||||||||
Expenses, before waivers |
1.54 | % | 0.80 | %C | 1.10 | % | 1.08 | % | 1.01 | % | 0.92 | % | 0.94 | % | ||||||||||||||
Net investment income |
2.44 | % | 2.74 | %C | 2.19 | % | 2.79 | % | 3.86 | % | 3.64 | % | 3.69 | % | ||||||||||||||
Net investment income, before waivers |
1.74 | % | 2.74 | %C | 2.19 | % | 2.79 | % | 3.86 | % | 3.64 | % | 3.69 | % | ||||||||||||||
Portfolio turnover rate |
22 | %B | 51 | %D | 22 | %B | 51 | % | 53 | % | 76 | % | 103 | % |
A | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
B | Not annualized. | |
C | Annualized. | |
D | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. |
56
A Class | C Class | |||||||||||||||||||
Six | Six | |||||||||||||||||||
Months | May 17 | Months | September | |||||||||||||||||
Ended | to | Ended | 01 to | |||||||||||||||||
April 30, | October | April 30, | October | |||||||||||||||||
2006 | 2011 | 31, 2010 | 2011 | 31, 2010 | ||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||
$ | 9.98 | $ | 10.81 | $ | 10.37 | $ | 10.82 | $ | 10.61 | |||||||||||
0.33 | 0.11 | 0.13 | 0.07 | 0.03 | ||||||||||||||||
0.29 | 0.11 | 0.44 | 0.11 | 0.20 | ||||||||||||||||
0.62 | 0.22 | 0.57 | 0.18 | 0.23 | ||||||||||||||||
(0.35 | ) | (0.13 | ) | (0.13 | ) | (0.09 | ) | (0.02 | ) | |||||||||||
| | | | | ||||||||||||||||
| | | | | ||||||||||||||||
(0.35 | ) | (0.13 | ) | (0.13 | ) | (0.09 | ) | (0.02 | ) | |||||||||||
$ | 10.25 | $ | 10.90 | $ | 10.81 | $ | 10.91 | $ | 10.82 | |||||||||||
6.36 | % | 2.04 | %B | 5.52 | %B | 1.78 | %B | 2.19 | %B | |||||||||||
$ | 125,915 | $ | 439 | $ | 166 | $ | 1,058 | $ | 1,035 | |||||||||||
0.93 | % | 1.19 | % | 1.14 | %C | 1.98 | % | 1.96 | %C | |||||||||||
0.93 | % | 2.15 | % | 1.20 | %C | 1.99 | % | 2.33 | %C | |||||||||||
3.21 | % | 2.05 | % | 2.10 | %C | 1.31 | % | 1.77 | %C | |||||||||||
3.21 | % | 1.09 | % | 2.03 | %C | 1.30 | % | 1.40 | %C | |||||||||||
65 | % | 22 | %B | 51 | %D | 22 | %B | 51 | %D |
57
Institutional Class | Y Class | |||||||||||||||||||||||||||
Six | Six | |||||||||||||||||||||||||||
Months | Months | |||||||||||||||||||||||||||
Ended | Ended | |||||||||||||||||||||||||||
April 30, | Year Ended October 31, | April 30, | ||||||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2011 | ||||||||||||||||||||||
(unaudited) | (unaudited) | |||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 11.10 | $ | 10.69 | $ | 9.61 | $ | 10.10 | $ | 10.02 | $ | 10.01 | $ | 11.10 | ||||||||||||||
Income from investment operations: |
||||||||||||||||||||||||||||
Net investment income |
0.17 | 0.39 | 0.46 | 0.50 | 0.50 | 0.46 | 0.15 | E | ||||||||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
(0.18 | ) | 0.40 | 1.07 | (0.51 | ) | 0.07 | 0.02 | (0.14 | ) | ||||||||||||||||||
Total income (loss) from investment operations |
(0.01 | ) | 0.79 | 1.53 | (0.01 | ) | 0.57 | 0.48 | 0.01 | |||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||||||
Dividends from net investment income |
(0.18 | ) | (0.38 | ) | (0.45 | ) | (0.48 | ) | (0.49 | ) | (0.47 | ) | (0.16 | ) | ||||||||||||||
Distributions from net realized gains on securities |
(0.19 | ) | | | | | | (0.19 | ) | |||||||||||||||||||
Total distributions |
(0.37 | ) | (0.38 | ) | (0.45 | ) | (0.48 | ) | (0.49 | ) | (0.47 | ) | (0.35 | ) | ||||||||||||||
Net asset value, end of period |
$ | 10.72 | $ | 11.10 | $ | 10.69 | $ | 9.61 | $ | 10.10 | $ | 10.02 | $ | 10.76 | ||||||||||||||
Total return A |
(0.07) | %B | 7.56 | % | 16.17 | % | (0.26 | )% | 5.83 | % | 4.96 | % | 0.14 | %B | ||||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 280,673 | $ | 290,734 | $ | 210,983 | $ | 147,634 | $ | 109,674 | $ | 97,319 | $ | 33 | ||||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||||||
Expenses, net of waivers |
0.32 | % | 0.33 | % | 0.32 | % | 0.30 | % | 0.34 | % | 0.35 | % | 0.65 | % | ||||||||||||||
Expenses, before waivers |
0.32 | % | 0.33 | % | 0.32 | % | 0.30 | % | 0.34 | % | 0.35 | % | 0.67 | % | ||||||||||||||
Net investment income, net of waivers |
3.17 | % | 3.39 | % | 4.32 | % | 4.70 | % | 4.86 | % | 4.64 | % | 2.80 | % | ||||||||||||||
Net investment income, before waivers |
3.17 | % | 3.39 | % | 4.31 | % | 4.70 | % | 4.86 | % | 4.64 | % | 2.78 | % | ||||||||||||||
Portfolio turnover rate |
47 | %B | 96 | % | 157 | % | 105 | % | 85 | % | 122 | % | 47 | %B |
A | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
B | Not annualized. | |
C | Annualized. | |
D | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. | |
E | For purposes of this calculation, the change in undistributed net investment income per share was derived by dividing the change in undistributed net investment income by average shares outstanding for the period. | |
F | Portfolio turnover rate is for the period from November 1, 2008 through October 31, 2009. |
58
Investor Class | A Class | C Class | ||||||||||||||||||||||||||||
Six | Six | Six | ||||||||||||||||||||||||||||
March | Months | Year | March | Months | May 17 | Months | September | |||||||||||||||||||||||
01 to | Ended | Ended | 02 to | Ended | to | Ended | 01 to | |||||||||||||||||||||||
October 31, | April 30, | October | October | April 30, | October | April 30, | October | |||||||||||||||||||||||
2010 | 2011 | 31, 2010 | 31, 2009 | 2011 | 31, 2010 | 2011 | 31, 2010 | |||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||||||
$ | 10.69 | $ | 11.08 | $ | 10.68 | $ | 10.14 | $ | 11.07 | $ | 10.74 | $ | 11.08 | $ | 11.05 | |||||||||||||||
0.23 | 0.14 | 0.33 | 0.27 | 0.14 | 0.13 | 0.10E | 0.03 | |||||||||||||||||||||||
0.41 | (0.18 | ) | 0.41 | 0.54 | (0.19 | ) | 0.33 | (0.19 | ) | 0.03 | ||||||||||||||||||||
0.64 | (0.04 | ) | 0.74 | 0.81 | (0.05 | ) | 0.46 | (0.09 | ) | 0.06 | ||||||||||||||||||||
(0.23 | ) | (0.15 | ) | (0.34 | ) | (0.27 | ) | (0.14 | ) | (0.13 | ) | (0.10 | ) | (0.03 | ) | |||||||||||||||
| (0.19 | ) | | | (0.19 | ) | | (0.19 | ) | | ||||||||||||||||||||
(0.23 | ) | (0.34 | ) | (0.34 | ) | (0.27 | ) | (0.33 | ) | (0.13 | ) | (0.29 | ) | (0.03 | ) | |||||||||||||||
$ | 11.10 | $ | 10.70 | $ | 11.08 | $ | 10.68 | $ | 10.69 | $ | 11.07 | $ | 10.70 | $ | 11.08 | |||||||||||||||
6.03 | %B | (0.31 | )%B | 7.01 | % | 8.05 | %B | (0.41 | )%B | 4.31 | %B | (0.76 | )%B | 0.56 | %B | |||||||||||||||
$ | 382 | $ | 3,329 | $ | 3,829 | $ | 2,213 | $ | 414 | $ | 46 | $ | 218 | $ | 325 | |||||||||||||||
0.64 | %C | 0.79 | % | 0.76 | % | 0.81 | %C | 0.98 | % | 0.95 | %C | 1.71 | % | 1.74 | %C | |||||||||||||||
0.67 | %C | 0.82 | % | 0.83 | % | 1.22 | %C | 1.07 | % | 1.05 | %C | 1.83 | % | 2.09 | %C | |||||||||||||||
2.60 | %C | 2.68 | % | 2.95 | % | 3.74 | %C | 2.50 | % | 2.25 | %C | 1.78 | % | 1.23 | %C | |||||||||||||||
2.58 | %C | 2.64 | % | 2.88 | % | 3.33 | %C | 2.41 | % | 2.15 | %C | 1.66 | % | 0.88 | %C | |||||||||||||||
96 | %D | 47 | %B | 96 | % | 157 | %F | 47 | %B | 96 | %D | 47 | %B | 96 | %D |
59
Institutional Class | ||||||||||||||||||||||||
Six | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
April 30, | Year Ended October 31, | |||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 8.89 | $ | 8.83 | $ | 8.58 | $ | 8.79 | $ | 8.74 | $ | 8.75 | ||||||||||||
Income from investment operations: |
||||||||||||||||||||||||
Net investment income (loss) |
0.20 | 0.23 | 0.22 | A | 0.35 | A | 0.39 | A | 0.32 | A | ||||||||||||||
Net gains (losses) on securities (both realized and unrealized) |
(0.18 | ) | 0.10 | 0.33 | (0.15 | ) | 0.09 | 0.07 | ||||||||||||||||
Total income (loss) from investment operations |
0.02 | 0.33 | 0.55 | 0.20 | 0.48 | 0.39 | ||||||||||||||||||
Less distributions: |
||||||||||||||||||||||||
Dividends from net investment income |
(0.11 | ) | (0.27 | ) | (0.30 | ) | (0.41 | ) | (0.43 | ) | (0.40 | ) | ||||||||||||
Distributions from net realized gains on securities |
| | | | | | ||||||||||||||||||
Total distributions |
(0.11 | ) | (0.27 | ) | (0.30 | ) | (0.41 | ) | (0.43 | ) | (0.40 | ) | ||||||||||||
Net asset value, end of period |
$ | 8.80 | $ | 8.89 | $ | 8.83 | $ | 8.58 | $ | 8.79 | $ | 8.74 | ||||||||||||
Total return
B |
0.24 | %C | 3.78 | % | 6.56 | % | 2.21 | % | 5.61 | % | 4.56 | % | ||||||||||||
Ratios and supplemental data: |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 160,507 | $ | 131,314 | $ | 124,791 | $ | 255,725 | $ | 89,427 | $ | 73,417 | ||||||||||||
Ratios to average net assets (annualized): |
||||||||||||||||||||||||
Expenses, net of waivers |
0.31 | % | 0.35 | % | 0.33 | % | 0.31 | % | 0.37 | % | 0.35 | % | ||||||||||||
Expenses, before waivers |
0.31 | % | 0.35 | % | 0.33 | % | 0.31 | % | 0.37 | % | 0.35 | % | ||||||||||||
Net investment income (loss), net of waivers |
1.99 | % | 2.27 | % | 2.62 | % | 3.75 | % | 4.48 | % | 3.64 | % | ||||||||||||
Net investment income (loss), before waivers |
1.99 | % | 2.27 | % | 2.61 | % | 3.75 | % | 4.48 | % | 3.64 | % | ||||||||||||
Portfolio turnover rate |
40 | %C | 60 | % | 140 | % | 21 | % | 40 | % | 48 | % |
A | For purposes of this calculation, the change in undistributed net investment income per share was derived by dividing the change in undistributed net investment income by average shares outstanding for the period. | |
B | Based on net asset value, which does not reflect the sales charge, redemption fee, or contingent deferred sales charge, if applicable. | |
C | Not annualized. | |
D | Annualized. | |
E | Portfolio turnover rate is for the period from November 1, 2009 through October 31, 2010. |
60
Y Class | Investor Class | A Class | C Class | |||||||||||||||||||||||||||||||||||||||||||
Six | Six | Six | Six | |||||||||||||||||||||||||||||||||||||||||||
Months | March | Months | Months | May | Months | September | ||||||||||||||||||||||||||||||||||||||||
Ended | 01 to | Ended | Ended | 17 to | Ended | 01 to | ||||||||||||||||||||||||||||||||||||||||
April 30, | October 31, | April 30, | Year Ended October 31, | April 30, | October 31, | April 30, | October 31, | |||||||||||||||||||||||||||||||||||||||
2011 | 2010 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2011 | 2010 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||
(unaudited) | (unaudited) | (unaudited) | (unaudited) | |||||||||||||||||||||||||||||||||||||||||||
$ | 8.90 | $ | 8.84 | $ | 8.89 | $ | 8.84 | $ | 8.59 | $ | 8.81 | $ | 8.76 | $ | 8.77 | $ | 8.89 | $ | 8.84 | $ | 8.90 | $ | 8.88 | |||||||||||||||||||||||
0.10 | 0.15 | 0.17 | 0.08 | 0.20 | A | 0.29 | A | 0.35 | A | 0.27 | A | 0.09 | 0.09 | 0.10 | (0.04 | ) | ||||||||||||||||||||||||||||||
(0.08 | ) | 0.08 | (0.16 | ) | 0.21 | 0.34 | (0.15 | ) | 0.09 | 0.07 | (0.09 | ) | 0.07 | (0.13 | ) | 0.08 | ||||||||||||||||||||||||||||||
0.02 | 0.23 | 0.01 | 0.29 | 0.54 | 0.14 | 0.44 | 0.34 | 0.00 | 0.16 | (0.03 | ) | 0.04 | ||||||||||||||||||||||||||||||||||
(0.10 | ) | (0.17 | ) | (0.09 | ) | (0.24 | ) | (0.29 | ) | (0.36 | ) | (0.39 | ) | (0.35 | ) | (0.09 | ) | (0.11 | ) | (0.06 | ) | (0.02 | ) | |||||||||||||||||||||||
| | | | | | | | | | | | |||||||||||||||||||||||||||||||||||
(0.10 | ) | (0.17 | ) | (0.09 | ) | (0.24 | ) | (0.29 | ) | (0.36 | ) | (0.39 | ) | (0.35 | ) | (0.09 | ) | (0.11 | ) | (0.06 | ) | (0.02 | ) | |||||||||||||||||||||||
$ | 8.82 | $ | 8.90 | $ | 8.81 | $ | 8.89 | $ | 8.84 | $ | 8.59 | $ | 8.81 | $ | 8.76 | $ | 8.80 | $ | 8.89 | $ | 8.81 | $ | 8.90 | |||||||||||||||||||||||
0.18 | %C | 2.55 | %C | 0.13 | %C | 3.33 | % | 6.34 | % | 1.54 | % | 5.08 | % | 4.01 | % | (0.05) | %C | 1.78 | %C | (0.37) | %C | 0.48 | %C | |||||||||||||||||||||||
$ | 343 | $ | 51 | $ | 31,514 | $ | 23,175 | $ | 30,402 | $ | 7,733 | $ | 2,976 | $ | 7,189 | $ | 1,371 | $ | 44 | $ | 272 | $ | 1 | |||||||||||||||||||||||
0.65 | % | 0.64 | %D | 0.76 | % | 0.67 | % | 0.54 | % | 0.85 | % | 0.87 | % | 0.88 | % | 0.83 | % | 0.81 | %D | 1.58 | % | 1.60 | %D | |||||||||||||||||||||||
2.38 | % | 0.65 | %D | 0.83 | % | 0.86 | % | 0.85 | % | 0.88 | % | 0.98 | % | 0.90 | % | 2.49 | % | 1.02 | %D | 3.05 | % | 2.28 | %D | |||||||||||||||||||||||
1.51 | % | 1.47 | %D | 1.52 | % | 1.94 | % | 2.20 | % | 3.19 | % | 3.91 | % | 3.10 | % | 1.24 | % | 0.69 | %D | 0.64 | % | (2.88) | %D | |||||||||||||||||||||||
(0.22 | )% | 1.45 | %D | 1.45 | % | 1.75 | % | 1.89 | % | 3.16 | % | 3.81 | % | 3.08 | % | (0.43 | )% | 0.49 | %D | (0.83 | )% | (3.57) | %D | |||||||||||||||||||||||
40 | %C | 60 | %E | 40 | %C | 60 | % | 140 | % | 21 | % | 40 | % | 48 | % | 40 | %C | 60 | %E | 40 | %C | 60 | %E |
61
7
|
8 | |
By E-mail:
|
On the Internet: | |
american_beacon.funds@ambeacon.com
|
Visit our website at www.americanbeaconfunds.com | |
(
|
- | |
By Telephone:
|
By Mail: | |
Institutional Class
|
American Beacon Funds | |
Call (800) 658-5811
|
P.O. Box 219643 | |
AMR ClassSM
|
Kansas City, MO 64121-9643 | |
Call (800) 345-2345 |
||
Investor Class® Class |
||
Call (800) 388-3344 |
||
Availability of Quarterly Portfolio Schedules
|
Availability of Proxy Voting Policy and Records | |
In addition to the Schedule of Investments
provided in each semi-annual and annual
report, the Fund files a complete schedule
of its portfolio holdings with the
Securities and Exchange Commission (SEC)
on Form N-Q as of the first and third fiscal
quarters. The Funds Forms N-Q are available
on the SECs website at www.sec.gov. The
Forms N-Q may also be reviewed and copied at
the SECs Public Reference Room, 450 Fifth
Street, NW, Washington, DC 20549.
Information regarding the operation of the
SECs Public Reference Room may be obtained
by calling 1-800-SEC-0330. A complete
schedule of the Funds portfolio holdings is
also available on the Funds website
(www.americanbeaconfunds.com) approximately
twenty days after the end of each month.
|
A description of the policies and procedures the Fund uses to determine how to vote proxies relating to portfolio securities is available in the Funds Statement of Additional Information, is available free of charge on the Funds website (www.americanbeaconfunds.com) and by calling 1-800-967-9009 or by accessing the SECs website at www.sec.gov. The Funds proxy voting record for the most recent year ended June 30 is filed annually with the SEC on Form N-PX. The Funds Forms N-PX are available on the SECs website at www.sec.gov. The Funds proxy voting record may also be obtained by calling 1-800-967-9009. |
Custodian State Street Bank and Trust Boston, Massachusetts |
Transfer Agent Boston Financial Data Services Kansas City, Missouri |
Independent Registered Public Accounting Firm Ernst & Young LLP Dallas, Texas |
Distributor Foreside Fund Services Portland, Maine |
62
ITEM 1. | REPORTS TO STOCKHOLDERS. |
ITEM 2. | CODE OF ETHICS. |
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
ITEM 6. | SCHEDULE OF INVESTMENTS. |
ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. |
ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
ITEM 11. | CONTROLS AND PROCEDURES. |
ITEM 12. | EXHIBITS. |
(Registrant): American Beacon Funds |
||||
By | /s/ Gene L. Needles, Jr. | |||
Gene L. Needles, Jr. | ||||
President American Beacon Funds |
||||
By | /s/ Gene L. Needles, Jr. | |||
Gene L. Needles, Jr. | ||||
President American Beacon Funds |
||||
By | /s/ Melinda G. Heika | |||
Melinda G. Heika | ||||
Treasurer American Beacon Funds |
||||
Date: July 7, 2011 | /s/ Melinda G. Heika | |||
Melinda G. Heika Treasurer |
||||
American Beacon Funds |
Date: July 7, 2011 | /s/ Gene L. Needles, Jr. | |||
Gene L. Needles, Jr. | ||||
President American Beacon Funds |
||||
/s/ Gene L. Needles, Jr.
|
/s/ Melinda G. Heika
|
|||||
Gene L. Needles, Jr.
|
Melinda G. Heika | |||||
President
|
Treasurer | |||||
American Beacon Funds
|
American Beacon Funds |
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