Investment Objective

To provide long-term total return by investing principally in fixed income securities of issuers located anywhere in the world.

Investment Strategy

This Series provides access to a diversified portfolio of developed and emerging market bonds primarily consisting of government debt and investment-grade corporate debt, bank debt, securitized/collateralized instruments, and money market securities. A substantial portion of its assets may be in high-yield, high-risk bonds. At least 40% of the portfolio will be invested in non-U.S. securities.

May be Appropriate for Investors

  • Seeking a long-term investment and who are willing to accept the risk of interest rate fluctuations and investing in foreign securities
  • Seeking to diversify a portfolio by adding a global bond component

Daily Price

$9.77

Daily $ Change

$0.00

Daily % Change

0.00%

as of 01/18/2018

Ticker

MNGIX

CUSIP

56382P161

Inception Date

10/01/2012

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans that are not discretionary investment clients of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-05/11/17

Annualized Performance

As of 12/31/2017

YTD

---

1 Year

6.34%

3 Year

0.25%

5 Year

0.20%

10 Year

---

Inception
(10/01/2012)

0.37%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.73%
Net 0.70%*

*Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (04/30/2018) without the approval of the Fund’s Board of Directors.

Top Ten Investments

As of 12/31/2017

TREASURY NOTES 14.18%
GOVERNMENT AGENCY 7.55%
TREASURY BONDS 4.64%
FRANCE (GOVT OF) 0.25000 11/25/2026 4.10%
FRANCE (GOVT OF) 0.00000 05/25/2022 3.71%
BUNDESREPUB.DEUTSCHLAND 1.00000 08/15/2024 3.53%
BONOS Y OBLIG DEL ESTADO 5.40000 01/31/2023 3.05%
UK TSY 1.75% 2022 1.75000 09/07/2022 2.30%
BUNDESREPUB.DEUTSCHLAND 1.50000 09/04/2022 2.26%
UK TSY 5% 2018 5.00000 03/07/2018 2.06%

Top Ten Investments list is unaudited and excludes cash.

Country Allocation

As of 12/31/2017

United States 49.83%
United Kingdom 7.56%
France 7.48%
Germany 6.52%
Mexico 5.66%
Spain 4.50%
Canada 4.02%
Ireland 2.41%
South Korea 2.01%
Singapore 1.89%
Italy 1.20%
Sweden 1.09%
Luxembourg 1.08%
Chile 1.04%
Australia 1.04%
Japan 0.74%
Brazil 0.59%
Supra-national 0.54%
Cayman Islands 0.44%
Marshall Islands 0.18%
Bermuda 0.11%
Panama 0.07%

Sector Allocation

As of 12/31/2017

Government 39.22%
Treasury 19.99%
Agency 4.59%
Cash 4.72%
Corporate 24.58%
Mortgage 6.90%

Credit Quality Distribution

As of 12/31/2017

AAA 47.64%
AA 15.42%
A 12.00%
BBB 16.63%
BB 2.61%
B 1.98%
CCC 0.20%
NR 3.52%

Credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Not Rated (NR) is used to classify securities for which a rating is not available. Credit quality ratings for each issue are obtained from Bloomberg using ratings derived from Moody’s Investors Services (Moody’s) or Standard & Poor’s. When ratings from Moody’s are not available, ratings from Standard & Poor’s are used.

December Fund Holdings

As of 12/31/2017

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 100,000 $97,375.00
00206REM0 AT&T INC 3.90000 08/14/2027 US 700,000 $704,677.23
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 2,000,000 $1,968,720.00
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 200,000 $210,750.00
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 760,000 $765,347.28
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 765,000 $803,417.38
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 55,000 $58,025.00
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 135,000 $143,100.00
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 25,000 $22,550.00
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 515,000 $514,870.11
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 95,000 $97,493.75
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 55,000 $55,275.00
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 350,000 $350,527.46
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 85,000 $87,337.50
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 570,000 $602,263.79
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 770,000 $784,118.47
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 700,000 $692,762.71
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 695,000 $690,356.86
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 610,000 $970,129.95
03938LAQ7 ARCELORMITTAL 5.75000 08/05/2020 LU 25,000 $26,375.00
045167DQ3 ASIAN DEVELOPMENT BANK 1.00000 08/16/2019 SNA 1,000,000 $984,047.29
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 925,000 $996,600.46
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 760,000 $789,618.01
05582QAD9 BMWOT 2016-A A3 1.16000 11/25/2020 US 500,000 $496,149.70
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 595,000 $619,015.25
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 310,000 $377,807.19
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 430,000 $479,643.81
105756BV1 FED REPUBLIC OF BRAZIL 4.25000 01/07/2025 BR 600,000 $610,200.00
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 180,000 $169,650.00
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 12,000 $13,083.60
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 180,000 $177,300.00
14312QAB2 CARMX 2016-4 A2 1.21000 11/15/2019 US 213,718.16 $213,269.44
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 180,000 $180,900.00
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 90,000 $89,775.00
161175BB9 CHARTER COMM OPT LLC/CAP 4.46400 07/23/2022 US 40,000 $41,733.97
161571GY4 CHAIT 2015- A5 A5 1.36000 04/15/2020 US 500,000 $499,460.20
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 130,000 $132,275.00
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 140,000 $159,337.50
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 250,000 $249,195.88
168863AU2 REPUBLIC OF CHILE 5.50000 08/05/2020 CL 700,000,000 $1,190,489.11
172967JL6 CITIGROUP INC 3.87500 03/26/2025 US 800,000 $818,918.89
20030NBP5 COMCAST CORP 4.40000 08/15/2035 US 439,000 $479,956.25
20826FAG1 CONOCOPHILLIPS COMPANY 3.35000 05/15/2025 US 400,000 $411,986.32
21987BAW8 CODELCO INC 3.62500 08/01/2027 CL 695,000 $695,757.55
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 90,000 $90,450.00
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 130,000 $129,961.00
25470DAR0 DISCOVERY COMMUNICATIONS 3.95000 03/20/2028 US 520,000 $517,220.92
25470XAJ4 DISH DBS CORP 5.87500 07/15/2022 US 40,000 $40,200.00
256677AC9 DOLLAR GENERAL CORP 3.25000 04/15/2023 US 390,000 $395,259.36
257559AH7 DOMTAR CORP 4.40000 04/01/2022 US 390,000 $410,291.68
262006208 DREYFUS GVT CSH MANAGEMENT US 8,538,893.97 $8,538,893.97
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 135,000 $136,012.50
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 350,000 $347,045.37
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 820,000 $853,749.34
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 350,000 $351,475.66
29413XAB3 ENVIVA PARTNERS LP /FIN C 8.50000 11/01/2021 US 130,000 $138,450.00
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,500,000 $1,486,753.50
30219GAK4 EXPRESS SCRIPTS HOLDING 3.50000 06/15/2024 US 375,000 $378,316.90
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 869,774.22 $961,390.11
3128P8A92 FHLM POOL C91832 3.50000 06/01/2035 US 856,067.84 $889,389.45
3132FEAT8 FHLM POOL Z50018 3.50000 07/01/2026 US 867,800.9 $897,025.08
3132LNE34 FHLM POOL K92054 4.00000 10/01/2034 US 631,789.96 $667,680.98
3135G0ZR7 FEDERAL NATL MTG ASSN 2.62500 09/06/2024 US 6,979,000 $7,071,925.39
3137AJMG6 FMHS K016 X1 FLT 1.52418 10/25/2021 US 3,927,021.59 $187,539.24
3137AL6W4 FHMS K706 X1 FLT 1.54648 10/25/2018 US 5,637,005.63 $50,987.28
3137B36J2 FHMS K029 A2 3.32000 02/25/2023 US 860,000 $894,198.50
3137B3NB0 FHMS K030 X1 FLT 0.20689 04/25/2023 US 22,441,202.23 $214,903.68
3137EADB2 FREDDIE MAC 2.37500 01/13/2022 US 1,218,000 $1,228,951.04
31402RDD8 FEDERAL NATL MTG ASSN 735500 5.50000 05/01/2035 US 632,844.3 $702,125.87
31418BC46 FEDERAL NATL MTG ASSN MA1890 4.00000 05/01/2034 US 565,367.45 $596,803.15
35671DBH7 FREEPORT-MCMORAN INC 4.00000 11/14/2021 US 25,000 $25,000.00
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 55,000 $56,711.00
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 175,000 $180,906.25
38013GAC3 GMALT 2015-2 A3 1.68000 12/20/2018 US 145,250.93 $145,223.48
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 390,000 $407,600.66
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 135,000 $139,050.00
404119BM0 HCA INC 3.75000 03/15/2019 US 40,000 $40,350.00
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 40,000 $42,400.00
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 90,000 $92,250.00
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 125,000 $127,812.50
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 90,000 $91,773.00
437302AA0 HOME PARTNERS OF AMERICA FLT RT 3.10951 03/17/2033 US 267,258.64 $268,874.73
43814RAB2 HAROT 2016-4 A2 1.04000 04/18/2019 US 225,811.61 $225,385.07
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 230,000 $234,600.00
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 135,000 $135,843.75
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 260,000 $259,350.00
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 95,000 $99,550.93
46115HAL1 INTESA SANPAOLO SPA 3.87500 01/15/2019 IT 380,000 $385,069.75
46647PAE6 JPMORGAN CHASE & CO 2.77600 04/25/2023 US 775,000 $775,751.15
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 500,000 $506,835.95
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 500,000 $506,640.65
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 180,000 $181,350.00
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 115,000 $116,150.00
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 2,200,000 $2,150,802.30
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 85,000 $86,487.50
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 125,000 $128,750.00
539439AM1 LLOYDS BANKING GROUP PLC 4.58200 12/10/2025 GB 787,000 $825,210.02
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 430,000 $456,987.79
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 145,000 $140,650.00
580037AB5 MCDERMOTT INTERNATIONAL 8.00000 05/01/2021 PA 130,000 $133,620.50
58768MAC5 MBALT 2016-B A3 1.35000 08/15/2019 US 450,000 $448,470.14
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 90,000 $91,575.00
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 550,000 $601,832.96
61744YAG3 MORGAN STANLEY FLT 2.61703 05/08/2024 US 600,000 $612,617.20
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 95,000 $93,931.25
62944TAE5 NVR INC 3.95000 09/15/2022 US 640,000 $668,106.79
63940HAA1 NAVSL 2016-3A A1 2.15213 06/25/2065 US 148,868.33 $149,143.23
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 149,705.65 $153,335.79
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 194,025.13 $198,253.05
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 220,000 $227,150.00
66977WAQ2 NOVA CHEMICALS CORP 4.87500 06/01/2024 CA 100,000 $99,750.00
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 125,000 $129,062.50
69318FAG3 PBF HOLDING CO LLC 7.25000 06/15/2025 US 100,000 $105,000.00
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 75,000 $71,625.00
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 370,000 $378,865.07
71654QCB6 PETROLEOS MEXICANOS 6.87500 08/04/2026 MX 325,000 $368,468.75
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 135,000 $140,400.00
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 370,000 $404,225.00
767754CH5 RITE AID CORP 6.12500 04/01/2023 US 25,000 $22,562.50
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 175,000 $183,312.50
780097AY7 ROYAL BK SCOTLND GRP PLC 6.10000 06/10/2023 GB 40,000 $44,046.50
78442FET1 SLM CORP 6.12500 03/25/2024 US 85,000 $86,062.50
78442PGC4 SLM CORP 5.12500 04/05/2022 US 145,000 $150,800.00
80282KAQ9 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 615,000 $612,603.67
81663AAC9 SEMGROUP CORP 6.37500 03/15/2025 US 120,000 $118,200.00
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 90,000 $90,900.00
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 40,000 $40,100.00
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 235,271.1 $235,802.88
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 150,000 $149,610.32
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 150,000 $150,200.03
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 364,216.63 $362,744.76
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 380,000 $388,020.77
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 1.62100 12/01/2023 US 210,014.6 $210,002.00
84265VAH8 SOUTHERN COPPER CORP 3.87500 04/23/2025 US 461,000 $478,070.68
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 100,000 $103,875.00
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 40,000 $42,104.00
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 40,000 $42,400.00
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 70,000 $69,475.00
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 180,000 $184,725.00
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 125,000 $102,500.00
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 40,000 $40,400.00
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 367,493.8 $364,848.32
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 400,000 $394,380.16
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 500,000 $497,947.00
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 135,000 $128,250.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 135,000 $145,125.00
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 200,000 $201,380.00
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 2,600,000 $3,655,335.94
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,400,000 $1,865,117.18
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,424,564.1 $1,438,428.91
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 2,600,000 $2,478,632.81
912828K25 US TREASURY N/B 0.75000 04/15/2018 US 1,440,000 $1,437,516.99
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 969,036 $967,048.75
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 5,160,000 $5,096,104.70
912828N97 UNITED STATES TREAS NTS 1.71222 01/31/2018 US 2,930,000 $2,930,696.37
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 1,870,000 $1,812,950.40
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,925,000 $1,813,109.38
912828S76 US TREASURY N/B 1.12500 07/31/2021 US 3,750,000 $3,626,367.19
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 1,330,444.35 $1,320,111.79
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 4,220,000 $4,147,303.92
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 3,612,000 $3,601,700.17
91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 25,000 $26,250.00
92343VDY7 VERIZON COMMUNICATIONS 4.12500 03/16/2027 US 900,000 $938,441.66
92826CAC6 VISA INC 2.80000 12/14/2022 US 565,000 $573,277.61
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 115,000 $114,425.00
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 130,000 $129,350.00
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 90,000 $91,800.00
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 70,000 $74,725.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 490,000 $491,018.45
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 100,000 $101,250.00
B071W09 BANCO SANTANDER SA 4.00000 04/07/2020 ES 100,000 $131,474.13
B1VWPC8 UK TSY 5% 2018 5.00000 03/07/2018 GB 2,610,000 $3,553,484.73
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 2,485,000 $2,024,098.73
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 71,000,000 $3,487,621.11
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 2,500,000 $2,065,672.24
B4KTTW9 AUSTRALIAN GOVERNMENT 4.50000 04/15/2020 AU 600,000 $493,562.78
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 64,000,000 $3,115,648.57
B4S3JD4 IRISH TSY 3.9% 2023 3.90000 03/20/2023 IE 750,000 $1,077,669.66
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 4,515,000 $3,415,223.04
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 1,995,000 $1,596,015.87
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 57,500,000 $2,948,035.60
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 6,500,000 $330,760.33
B6TKW39 FMC FINANCE VIII SA 6.50000 09/15/2018 LU 1,540,000 $1,930,207.00
B7L9SL1 UK TSY 1.75% 2022 1.75000 09/07/2022 GB 2,800,000 $3,959,225.56
B7YJD46 BUNDESREPUB.DEUTSCHLAND 1.50000 09/04/2022 DE 3,000,000 $3,894,226.34
B8D7092 BNP PARIBAS HOME LOAN 3.75000 04/20/2020 FR 50,000 $65,640.78
B9F7GF5 BONOS Y OBLIG DEL ESTADO 5.40000 01/31/2023 ES 3,505,000 $5,254,463.66
BB0RD97 AUSTRALIAN GOVERNMENT 3.25000 04/21/2025 AU 1,700,000 $1,389,351.14
BD6VMZ6 FRANCE (GOVT OF) 0.25000 11/25/2026 FR 6,050,000 $7,073,964.53
BDB46H0 JAPAN (2 YEAR ISSUE) 0.10000 10/15/2018 JP 150,000,000 $1,333,831.82
BDRHNP0 UK TSY 1 1/4% 2027 1.25000 07/22/2027 GB 2,200,000 $2,977,957.50
BDSF8N6 FRANCE (GOVT OF) 0.00000 05/25/2022 FR 5,300,000 $6,396,959.59
BF425L2 BUNDESREPUB DEUTSCHLAND 0.50000 08/15/2027 DE 1,500,000 $1,811,291.75
BJ0X0K1 NOTA DO TESOURO NACIONAL 10.00000 01/01/2025 BR 1,500,000 $451,646.92
BJ38CQ3 IRISH TSY 0.8% 2022 FLT 0.80000 03/15/2022 IE 2,000,000 $2,489,940.49
BQSC2Z8 BUNDESREPUB.DEUTSCHLAND 1.00000 08/15/2024 DE 4,775,000 $6,092,158.40
BVGC318 BONO Y OBLIG DEL ESTADO 1.60000 04/30/2025 ES 2,200,000 $2,760,046.55
BW38YX5 BUONI POLIENNALI DEL TES 1.50000 06/01/2025 IT 975,000 $1,165,589.66
BYNV6D2 BUONI POLIENNALI DEL TES 1.45000 09/15/2022 IT 500,000 $619,070.36
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 130,000 $137,475.00

Investments will change over time.

Investments will change over time.

Daily Price

$9.77

Daily $ Change

$0.00

Daily % Change

0.00%

as of 01/18/2018

Ticker

MNGIX

CUSIP

56382P161

Inception Date

10/01/2012

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans that are not discretionary investment clients of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-05/11/17

Investment Objective

To provide long-term total return by investing principally in fixed income securities of issuers located anywhere in the world.

Investment Strategy

This Series provides access to a diversified portfolio of developed and emerging market bonds primarily consisting of government debt and investment-grade corporate debt, bank debt, securitized/collateralized instruments, and money market securities. A substantial portion of its assets may be in high-yield, high-risk bonds. At least 40% of the portfolio will be invested in non-U.S. securities.

May be Appropriate for Investors

  • Seeking a long-term investment and who are willing to accept the risk of interest rate fluctuations and investing in foreign securities
  • Seeking to diversify a portfolio by adding a global bond component

Annualized Performance

As of 12/31/2017

YTD

---

1 Year

6.34%

3 Year

0.25%

5 Year

0.20%

10 Year

---

Inception
(10/01/2012)

0.37%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.73%
Net 0.70%*

*Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (04/30/2018) without the approval of the Fund’s Board of Directors.

Top Ten Investments

As of 12/31/2017

TREASURY NOTES 14.18%
GOVERNMENT AGENCY 7.55%
TREASURY BONDS 4.64%
FRANCE (GOVT OF) 0.25000 11/25/2026 4.10%
FRANCE (GOVT OF) 0.00000 05/25/2022 3.71%
BUNDESREPUB.DEUTSCHLAND 1.00000 08/15/2024 3.53%
BONOS Y OBLIG DEL ESTADO 5.40000 01/31/2023 3.05%
UK TSY 1.75% 2022 1.75000 09/07/2022 2.30%
BUNDESREPUB.DEUTSCHLAND 1.50000 09/04/2022 2.26%
UK TSY 5% 2018 5.00000 03/07/2018 2.06%

Top Ten Investments list is unaudited and excludes cash.

Country Allocation

As of 12/31/2017

United States
49.83%
United Kingdom
7.56%
France
7.48%
Germany
6.52%
Mexico
5.66%
Spain
4.50%
Canada
4.02%
Ireland
2.41%
South Korea
2.01%
Singapore
1.89%
Italy
1.20%
Sweden
1.09%
Luxembourg
1.08%
Chile
1.04%
Australia
1.04%
Japan
0.74%
Brazil
0.59%
Supra-national
0.54%
Cayman Islands
0.44%
Marshall Islands
0.18%
Bermuda
0.11%
Panama
0.07%

Sector Allocation

As of 12/31/2017

Government
39.22%
Treasury
19.99%
Agency
4.59%
Cash
4.72%
Corporate
24.58%
Mortgage
6.90%

Credit Quality Distribution

As of 12/31/2017

AAA
47.64%
AA
15.42%
A
12.00%
BBB
16.63%
BB
2.61%
B
1.98%
CCC
0.20%
NR
3.52%

Credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Not Rated (NR) is used to classify securities for which a rating is not available. Credit quality ratings for each issue are obtained from Bloomberg using ratings derived from Moody’s Investors Services (Moody’s) or Standard & Poor’s. When ratings from Moody’s are not available, ratings from Standard & Poor’s are used.

December Fund Holdings

As of 12/31/2017

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 100,000 $97,375.00
00206REM0 AT&T INC 3.90000 08/14/2027 US 700,000 $704,677.23
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 2,000,000 $1,968,720.00
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 200,000 $210,750.00
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 760,000 $765,347.28
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 765,000 $803,417.38
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 55,000 $58,025.00
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 135,000 $143,100.00
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 25,000 $22,550.00
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 515,000 $514,870.11
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 95,000 $97,493.75
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 55,000 $55,275.00
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 350,000 $350,527.46
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 85,000 $87,337.50
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 570,000 $602,263.79
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 770,000 $784,118.47
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 700,000 $692,762.71
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 695,000 $690,356.86
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 610,000 $970,129.95
03938LAQ7 ARCELORMITTAL 5.75000 08/05/2020 LU 25,000 $26,375.00
045167DQ3 ASIAN DEVELOPMENT BANK 1.00000 08/16/2019 SNA 1,000,000 $984,047.29
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 925,000 $996,600.46
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 760,000 $789,618.01
05582QAD9 BMWOT 2016-A A3 1.16000 11/25/2020 US 500,000 $496,149.70
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 595,000 $619,015.25
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 310,000 $377,807.19
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 430,000 $479,643.81
105756BV1 FED REPUBLIC OF BRAZIL 4.25000 01/07/2025 BR 600,000 $610,200.00
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 180,000 $169,650.00
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 12,000 $13,083.60
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 180,000 $177,300.00
14312QAB2 CARMX 2016-4 A2 1.21000 11/15/2019 US 213,718.16 $213,269.44
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 180,000 $180,900.00
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 90,000 $89,775.00
161175BB9 CHARTER COMM OPT LLC/CAP 4.46400 07/23/2022 US 40,000 $41,733.97
161571GY4 CHAIT 2015- A5 A5 1.36000 04/15/2020 US 500,000 $499,460.20
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 130,000 $132,275.00
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 140,000 $159,337.50
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 250,000 $249,195.88
168863AU2 REPUBLIC OF CHILE 5.50000 08/05/2020 CL 700,000,000 $1,190,489.11
172967JL6 CITIGROUP INC 3.87500 03/26/2025 US 800,000 $818,918.89
20030NBP5 COMCAST CORP 4.40000 08/15/2035 US 439,000 $479,956.25
20826FAG1 CONOCOPHILLIPS COMPANY 3.35000 05/15/2025 US 400,000 $411,986.32
21987BAW8 CODELCO INC 3.62500 08/01/2027 CL 695,000 $695,757.55
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 90,000 $90,450.00
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 130,000 $129,961.00
25470DAR0 DISCOVERY COMMUNICATIONS 3.95000 03/20/2028 US 520,000 $517,220.92
25470XAJ4 DISH DBS CORP 5.87500 07/15/2022 US 40,000 $40,200.00
256677AC9 DOLLAR GENERAL CORP 3.25000 04/15/2023 US 390,000 $395,259.36
257559AH7 DOMTAR CORP 4.40000 04/01/2022 US 390,000 $410,291.68
262006208 DREYFUS GVT CSH MANAGEMENT US 8,538,893.97 $8,538,893.97
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 135,000 $136,012.50
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 350,000 $347,045.37
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 820,000 $853,749.34
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 350,000 $351,475.66
29413XAB3 ENVIVA PARTNERS LP /FIN C 8.50000 11/01/2021 US 130,000 $138,450.00
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,500,000 $1,486,753.50
30219GAK4 EXPRESS SCRIPTS HOLDING 3.50000 06/15/2024 US 375,000 $378,316.90
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 869,774.22 $961,390.11
3128P8A92 FHLM POOL C91832 3.50000 06/01/2035 US 856,067.84 $889,389.45
3132FEAT8 FHLM POOL Z50018 3.50000 07/01/2026 US 867,800.9 $897,025.08
3132LNE34 FHLM POOL K92054 4.00000 10/01/2034 US 631,789.96 $667,680.98
3135G0ZR7 FEDERAL NATL MTG ASSN 2.62500 09/06/2024 US 6,979,000 $7,071,925.39
3137AJMG6 FMHS K016 X1 FLT 1.52418 10/25/2021 US 3,927,021.59 $187,539.24
3137AL6W4 FHMS K706 X1 FLT 1.54648 10/25/2018 US 5,637,005.63 $50,987.28
3137B36J2 FHMS K029 A2 3.32000 02/25/2023 US 860,000 $894,198.50
3137B3NB0 FHMS K030 X1 FLT 0.20689 04/25/2023 US 22,441,202.23 $214,903.68
3137EADB2 FREDDIE MAC 2.37500 01/13/2022 US 1,218,000 $1,228,951.04
31402RDD8 FEDERAL NATL MTG ASSN 735500 5.50000 05/01/2035 US 632,844.3 $702,125.87
31418BC46 FEDERAL NATL MTG ASSN MA1890 4.00000 05/01/2034 US 565,367.45 $596,803.15
35671DBH7 FREEPORT-MCMORAN INC 4.00000 11/14/2021 US 25,000 $25,000.00
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 55,000 $56,711.00
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 175,000 $180,906.25
38013GAC3 GMALT 2015-2 A3 1.68000 12/20/2018 US 145,250.93 $145,223.48
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 390,000 $407,600.66
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 135,000 $139,050.00
404119BM0 HCA INC 3.75000 03/15/2019 US 40,000 $40,350.00
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 40,000 $42,400.00
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 90,000 $92,250.00
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 125,000 $127,812.50
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 90,000 $91,773.00
437302AA0 HOME PARTNERS OF AMERICA FLT RT 3.10951 03/17/2033 US 267,258.64 $268,874.73
43814RAB2 HAROT 2016-4 A2 1.04000 04/18/2019 US 225,811.61 $225,385.07
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 230,000 $234,600.00
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 135,000 $135,843.75
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 260,000 $259,350.00
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 95,000 $99,550.93
46115HAL1 INTESA SANPAOLO SPA 3.87500 01/15/2019 IT 380,000 $385,069.75
46647PAE6 JPMORGAN CHASE & CO 2.77600 04/25/2023 US 775,000 $775,751.15
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 500,000 $506,835.95
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 500,000 $506,640.65
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 180,000 $181,350.00
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 115,000 $116,150.00
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 2,200,000 $2,150,802.30
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 85,000 $86,487.50
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 125,000 $128,750.00
539439AM1 LLOYDS BANKING GROUP PLC 4.58200 12/10/2025 GB 787,000 $825,210.02
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 430,000 $456,987.79
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 145,000 $140,650.00
580037AB5 MCDERMOTT INTERNATIONAL 8.00000 05/01/2021 PA 130,000 $133,620.50
58768MAC5 MBALT 2016-B A3 1.35000 08/15/2019 US 450,000 $448,470.14
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 90,000 $91,575.00
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 550,000 $601,832.96
61744YAG3 MORGAN STANLEY FLT 2.61703 05/08/2024 US 600,000 $612,617.20
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 95,000 $93,931.25
62944TAE5 NVR INC 3.95000 09/15/2022 US 640,000 $668,106.79
63940HAA1 NAVSL 2016-3A A1 2.15213 06/25/2065 US 148,868.33 $149,143.23
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 149,705.65 $153,335.79
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 194,025.13 $198,253.05
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 220,000 $227,150.00
66977WAQ2 NOVA CHEMICALS CORP 4.87500 06/01/2024 CA 100,000 $99,750.00
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 125,000 $129,062.50
69318FAG3 PBF HOLDING CO LLC 7.25000 06/15/2025 US 100,000 $105,000.00
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 75,000 $71,625.00
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 370,000 $378,865.07
71654QCB6 PETROLEOS MEXICANOS 6.87500 08/04/2026 MX 325,000 $368,468.75
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 135,000 $140,400.00
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 370,000 $404,225.00
767754CH5 RITE AID CORP 6.12500 04/01/2023 US 25,000 $22,562.50
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 175,000 $183,312.50
780097AY7 ROYAL BK SCOTLND GRP PLC 6.10000 06/10/2023 GB 40,000 $44,046.50
78442FET1 SLM CORP 6.12500 03/25/2024 US 85,000 $86,062.50
78442PGC4 SLM CORP 5.12500 04/05/2022 US 145,000 $150,800.00
80282KAQ9 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 615,000 $612,603.67
81663AAC9 SEMGROUP CORP 6.37500 03/15/2025 US 120,000 $118,200.00
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 90,000 $90,900.00
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 40,000 $40,100.00
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 235,271.1 $235,802.88
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 150,000 $149,610.32
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 150,000 $150,200.03
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 364,216.63 $362,744.76
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 380,000 $388,020.77
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 1.62100 12/01/2023 US 210,014.6 $210,002.00
84265VAH8 SOUTHERN COPPER CORP 3.87500 04/23/2025 US 461,000 $478,070.68
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 100,000 $103,875.00
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 40,000 $42,104.00
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 40,000 $42,400.00
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 70,000 $69,475.00
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 180,000 $184,725.00
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 125,000 $102,500.00
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 40,000 $40,400.00
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 367,493.8 $364,848.32
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 400,000 $394,380.16
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 500,000 $497,947.00
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 135,000 $128,250.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 135,000 $145,125.00
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 200,000 $201,380.00
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 2,600,000 $3,655,335.94
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,400,000 $1,865,117.18
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,424,564.1 $1,438,428.91
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 2,600,000 $2,478,632.81
912828K25 US TREASURY N/B 0.75000 04/15/2018 US 1,440,000 $1,437,516.99
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 969,036 $967,048.75
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 5,160,000 $5,096,104.70
912828N97 UNITED STATES TREAS NTS 1.71222 01/31/2018 US 2,930,000 $2,930,696.37
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 1,870,000 $1,812,950.40
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,925,000 $1,813,109.38
912828S76 US TREASURY N/B 1.12500 07/31/2021 US 3,750,000 $3,626,367.19
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 1,330,444.35 $1,320,111.79
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 4,220,000 $4,147,303.92
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 3,612,000 $3,601,700.17
91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 25,000 $26,250.00
92343VDY7 VERIZON COMMUNICATIONS 4.12500 03/16/2027 US 900,000 $938,441.66
92826CAC6 VISA INC 2.80000 12/14/2022 US 565,000 $573,277.61
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 115,000 $114,425.00
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 130,000 $129,350.00
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 90,000 $91,800.00
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 70,000 $74,725.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 490,000 $491,018.45
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 100,000 $101,250.00
B071W09 BANCO SANTANDER SA 4.00000 04/07/2020 ES 100,000 $131,474.13
B1VWPC8 UK TSY 5% 2018 5.00000 03/07/2018 GB 2,610,000 $3,553,484.73
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 2,485,000 $2,024,098.73
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 71,000,000 $3,487,621.11
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 2,500,000 $2,065,672.24
B4KTTW9 AUSTRALIAN GOVERNMENT 4.50000 04/15/2020 AU 600,000 $493,562.78
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 64,000,000 $3,115,648.57
B4S3JD4 IRISH TSY 3.9% 2023 3.90000 03/20/2023 IE 750,000 $1,077,669.66
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 4,515,000 $3,415,223.04
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 1,995,000 $1,596,015.87
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 57,500,000 $2,948,035.60
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 6,500,000 $330,760.33
B6TKW39 FMC FINANCE VIII SA 6.50000 09/15/2018 LU 1,540,000 $1,930,207.00
B7L9SL1 UK TSY 1.75% 2022 1.75000 09/07/2022 GB 2,800,000 $3,959,225.56
B7YJD46 BUNDESREPUB.DEUTSCHLAND 1.50000 09/04/2022 DE 3,000,000 $3,894,226.34
B8D7092 BNP PARIBAS HOME LOAN 3.75000 04/20/2020 FR 50,000 $65,640.78
B9F7GF5 BONOS Y OBLIG DEL ESTADO 5.40000 01/31/2023 ES 3,505,000 $5,254,463.66
BB0RD97 AUSTRALIAN GOVERNMENT 3.25000 04/21/2025 AU 1,700,000 $1,389,351.14
BD6VMZ6 FRANCE (GOVT OF) 0.25000 11/25/2026 FR 6,050,000 $7,073,964.53
BDB46H0 JAPAN (2 YEAR ISSUE) 0.10000 10/15/2018 JP 150,000,000 $1,333,831.82
BDRHNP0 UK TSY 1 1/4% 2027 1.25000 07/22/2027 GB 2,200,000 $2,977,957.50
BDSF8N6 FRANCE (GOVT OF) 0.00000 05/25/2022 FR 5,300,000 $6,396,959.59
BF425L2 BUNDESREPUB DEUTSCHLAND 0.50000 08/15/2027 DE 1,500,000 $1,811,291.75
BJ0X0K1 NOTA DO TESOURO NACIONAL 10.00000 01/01/2025 BR 1,500,000 $451,646.92
BJ38CQ3 IRISH TSY 0.8% 2022 FLT 0.80000 03/15/2022 IE 2,000,000 $2,489,940.49
BQSC2Z8 BUNDESREPUB.DEUTSCHLAND 1.00000 08/15/2024 DE 4,775,000 $6,092,158.40
BVGC318 BONO Y OBLIG DEL ESTADO 1.60000 04/30/2025 ES 2,200,000 $2,760,046.55
BW38YX5 BUONI POLIENNALI DEL TES 1.50000 06/01/2025 IT 975,000 $1,165,589.66
BYNV6D2 BUONI POLIENNALI DEL TES 1.45000 09/15/2022 IT 500,000 $619,070.36
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 130,000 $137,475.00

Investments will change over time.

Distributions

  • Global Fixed Income Class I Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2017 Distributions
  • Second Quarter 2017 Distributions
  • First Quarter 2017 Distributions
  • Tax Letter
  • Global Fixed Income Return of Capital 2015

A Word About Risk

There is an inverse relationship between bond prices and interest rates; as interest rates rise, bond prices (and therefore the value of bond funds) fall. Likewise, as interest rates fall, bond prices and the value of bond funds rise. Investments in higher-yielding, lower-rated securities involve additional risks, including a higher risk of default and loss of principal. Additionally, funds whose investments are concentrated in foreign countries may be subject to fluctuating currency values, different accounting standards, and economic and political instability.


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