UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY SCHEDULE OF PORTFOLIO
HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT
COMPANY
INVESTMENT
COMPANY ACT FILE NUMBER: 811-05083
VAN ECK WORLDWIDE INSURANCE TRUST -
WORLDWIDE BOND FUND
(Exact
name of registrant as specified in its charter)
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99 Park Avenue -
8th Floor, New York, N.Y.
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10016
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(Address
of principal executive offices)
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(Zip
Code)
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Bruce J.
Smith
Chief
Financial Officer
Worldwide
Bond Fund
99 Park
Avenue - 8th
Floor
New York,
N.Y. 10016
(Name and
address of agent for service)
Registrant's
telephone number, including area code: (212)
687-5200
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Date
of fiscal year end:
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December
31
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Date
of reporting period:
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March
31, 2008
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Form N-Q
is to be used by management investment companies, other than small business
investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after the
close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the
Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the
information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A
registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget (“OMB”) control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 100 F Street, Washington, DC
20549. The OMB has reviewed this collection of information under the clearance
requirements of 44 U.S.C. § 3507.
ITEM 1.
Schedule of Investments.
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Worldwide Bond
Fund
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|||||
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Schedule of
Investments
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|||||
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March 31, 2008
(unaudited)
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Principal
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|||||
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Amount
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Value
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||||
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BONDS
AND NOTES: 82.7%
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|||||
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Austria:
4.8%
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|||||
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JPY
300,000,000
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Oester
Kontroll Bank Bond
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||||
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1.80%,
3/22/10
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$3,070,895
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||||
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Belgium:
4.4%
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|||||
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EUR
1,800,000
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Belgium
Kingdom
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||||
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4.00%,
3/28/17
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2,801,733
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||||
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Canada:
6.7%
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|||||
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CAD
4,000,000
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Canadian
Government Bond
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||||
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6.00%,
6/1/11
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4,277,890
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||||
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France:
4.6%
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|||||
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EUR
1,900,000
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French
Treasury Note
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||||
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3.75%,
4/25/17
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2,932,395
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||||
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Germany:
11.4%
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|||||
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Bundesrepublik
Deutschland Bonds
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|||||
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EUR
1,500,000
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4.50%,
7/4/09
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2,388,042
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EUR
3,000,000
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4.75%,
7/4/28
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4,877,893
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7,265,935
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|||||
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Italy:
4.6%
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|||||
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EUR
1,800,000
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Italian
Government Bond
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||||
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5.00%
, 2/1/12
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2,950,615
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||||
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Netherlands:
4.7%
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|||||
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EUR
1,900,000
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Netherlands
Government Bond
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||||
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4.00%,
7/15/16
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3,006,996
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||||
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New
Zealand: 5.5%
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|||||
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NZD
4,500,000
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New
Zealand Government Bond
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||||
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6.50%,
4/15/13 †
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3,549,784
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Spain:
7.4%
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|||||
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EUR
3,000,000
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Spanish
Government Bond
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||||
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4.00%,
1/31/10
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4,758,980
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||||
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United
Kingdom: 7.5%
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|||||
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GBP
2,400,000
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Great
Britain Government Bond
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||||
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4.25%
, 3/7/11
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4,811,784
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||||
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United
States: 21.1%
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|||||
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JPY
300,000,000
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KFW
International Finance, Inc. Bond
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||||
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1.75%
, 3/23/10
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3,072,210
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||||
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U.S.
Treasury Notes/Bonds:
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|||||
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$2,500,000
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5.50%,
5/15/09 †
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2,610,940
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5,000,000
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4.00%,
3/15/10 †
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5,230,470
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2,000,000
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6.625%,
2/15/27 †
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2,602,970
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13,516,590
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|||||
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Total
Bonds and Notes
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|||||
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(Cost:
$41,020,443)
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52,943,597
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||||
| Number | |||||
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of
Shares
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|||||
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MONEY
MARKET FUND: 16.1%
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|||||
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(Cost:
$10,291,579)
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|||||
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AIM
Treasury Portfolio -
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|||||
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10,291,579
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Institutional
Class
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10,291,579
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Total
Investments Before Collateral
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|||||
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for
Securities Loaned: 98.8%
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|||||
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(Cost:
$51,312,022)
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$63,235,176
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SHORT-TERM
INVESTMENT HELD
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|||||
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AS
COLLATERAL FOR
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|||||
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SECURITIES
LOANED: 20.6%
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|||||
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(Cost:
$13,154,564)
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|||||
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State
Street Navigator Securities
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|||||
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13,154,564
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Lending
Prime Portfolio
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13,154,564
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Total
Investments: 119.4%
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76,389,740
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||||
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(Cost:
$64,466,586)
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|||||
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Liabilities
in excess of other assets (19.4)%
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(12,414,775)
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||||
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NET
ASSETS: 100.0%
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$63,974,965
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†
Security fully or partially on loan. Total market value of
securities on loan is $12,895,409.
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CAD -
Canadian Dollar
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|||||
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EUR
- Euro
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GBP -
British Pound
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JPY
- Japanese Yen
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NZD
- New Zealand Dollar
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The
aggregate cost of investments owned for Federal income tax purposes is
$64,466,586, and unrealized appreciation (depreciation) on such
investments is:
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|||||
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|||||
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Gross
Unrealized Appreciation
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$11,923,154
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Gross
Unrealized Depreciation
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-
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Net
Unrealized Appreciation
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$11,923,154
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Summary
of Investments By Sector
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%
of
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||||
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Excluding
Collateral for Securities
Loaned
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Investments
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Value
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Foreign
Government Bonds
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57.5%
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$36,356,112
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U.S.
Government Bonds
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16.5
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10,444,380
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Foreign
Banks
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9.7
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6,143,105
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Money
Market Fund
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16.3
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10,291,579
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100.0%
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$63,235,176
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||||
See Note
to Schedule of Investments
Worldwide
Bond Fund
Note to
Schedule of Investments
March 31,
2008 (unaudited)
Security
Valuation—Securities
traded on national exchanges or on the NASDAQ National Market System are valued
at the last sales price as reported at the close of each business day.
Securities traded on the NASDAQ Stock Market are valued at the NASDAQ official
closing price. Over-the-counter securities not included in the NASDAQ National
Market System and listed securities for which no sale was reported are valued at
the mean of the bid and ask prices. Securities for which market values are not
readily available, or whose values have been affected by events occurring before
the Fund’s pricing time (4:00 p.m. Eastern Time) but after the close of the
securities’ primary market, are valued using methods approved by the Board of
Trustees. The Fund may also fair value securities in other situations, for
example, when a particular foreign market is closed but the Fund is open. The
price which the Fund may realize upon sale of an investment may differ
materially from the value presented on the Schedule of Investments. Short-term
obligations purchased with more than sixty days remaining to maturity are valued
at market value. Short-term obligations purchased with sixty days or less to
maturity are valued at amortized cost, which with accrued interest approximates
market value. Futures are valued using the closing price reported at the close
of the respective exchange. Forward foreign currency contracts are valued at the
spot currency rate plus an amount (“points”) which reflects the differences in
interest rates between the U.S. and foreign markets. Securities for which
quotations are not available are stated at fair value as determined by a Pricing
Committee of the Adviser appointed by the Board of Trustees. Certain factors
such as economic conditions, political events, market trends and security
specific information are used to determine the fair value for these securities.
Short-term investments held as collateral for securities loaned are valued
at net asset value.
Adoption of
Statement of Financial Accounting Standards No. 157 “Fair Value Measurements”
(“FAS 157”) – In September 2006, the Financial Accounting
Standards
Board issued FAS 157 effective for fiscal years beginning after November 15,
2007. This standard clarifies the definition of fair value for financial
reporting, establishes
a framework for measuring fair value and requires additional disclosures about
the use of fair value measurements. The Fund has adopted FAS 157 as of
January
1, 2008. The three levels of the fair value hierarchy under FAS 157 are
described below:
Level 1 -
quoted prices in active markets for identical securities
Level 2 -
significant observable inputs (including quoted prices for similar securities,
interest rates, prepayment speeds, credit risk, etc.)
Level 3 -
significant unobservable inputs (including the Fund’s own assumptions in
determining the fair value of investments)
The
inputs or methodology used for valuing securities are not necessarily an
indication of the risk associated with investing in those
securities.
The
summary of inputs used to value the Fund’s net assets as of March 31, 2008 is as
follows:
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Level
1 -
Quoted Prices
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Level
2 - Significant
Observable
Inputs
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Level
3 - Significant
Unobservable
Inputs
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Market
Value
of
Investments
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None
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$76,389,740
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None
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$76,389,740
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ITEM
2. Controls and Procedures.
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(a)
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The
registrant's principal executive and principal financial officers, or
persons performing similar functions, have concluded that the registrant's
disclosure controls and procedures (as defined in Rule 30a-3(c) under the
Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR
270.30a-3 (c))) are effective, as of a date within 90 days of the filing
date of the report that includes the disclosure required by this
paragraph, based on their evaluation of these controls and procedures
required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and
Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as
amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)).
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(b)
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There
were no changes in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR
270.30a-3(d)) that occurred during the registrant's last fiscal quarter
that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial
reporting.
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ITEM 3.
Exhibits.
Certifications
of principal executive officer and principal financial officer as required by
Rule 30a2(a) under the Investment Company Act of 1940 are attached as Exhibit
99.CERT
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
(Registrant)
Worldwide Bond
Fund
By
/s/ Bruce J. Smith, Chief
Financial Officer, Worldwide
Bond Fund
Date: May 29,
2008
Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons
on behalf of the registrant and in the capacities and on the dates
indicated.
By
/s/ Keith J. Carlson, Chief
Executive Officer, Worldwide Bond Fund
Date: May 29,
2008
By
/s/ Bruce J. Smith, Chief
Financial Officer, Worldwide Bond Fund
Date:
May 29,
2008