Investment Strategies - Fixed Income

Separate Accounts

 

Portfolio Characteristics as of June 30, 2008

 M&C Fixed IncomeLB Govt/CreditLB Aggregate
Average YTM 4.56% 4.54% 5.03%
Average Coupon 5.14% 5.36% 5.42%
Average Maturity 5.85 Yrs 8.05 Yrs 6.87 Yrs
Average Quality AAA AA1 AAA
Current Yield 5.10% 5.13% 5.32%
Effective Duration 4.30 Yrs 5.32 Yrs 4.77 Yrs

Distribution by Maturity as of June 30, 2008

 M&C Fixed IncomeLB Govt/CreditLB Aggregate
0-1 7.65% 0.00% 0.00%
1-3 20.34% 28.60% 18.40%
3-5 14.68% 21.70% 27.90%
5-7 35.87% 10.60% 24.70%
7-10 16.74% 18.70% 17.70%
10-15 0.00% 5.10% 2.90%
15-20 0.00% 4.00% 2.20%
20-25 0.00% 4.60% 2.60%
25+ 4.72% 6.70% 3.60%

Top Ten Holdings as of June 30, 2008

 Company% Owned
1FNMA 933735 5.000% 4.9%
2FHLMC Gold G03035 5.500%4.7%
3FHLMC Gold G03811 5.500%4.7%
4U S Treasury Note 4.500%4.5%
5U S Treasury 4.500%4.5%
6Freddie Mac 6.625%4.2%
7U S Treasury Note 4.250%4.0%
8Citigroup Inc 5.125%3.9%
9Freddie Mac 5.125%3.8%
10Fannie Mae 6.000%3.8%

Disclosure

Source: BondEdge, Advent/AXYS
Data as of June 30, 2008

The characteristics shown above were derived from a representative account ("M&C Fixed Income"). The Representative Fixed Income Account is an actual, separately managed portfolio representative of Montag & Caldwell’s fixed income strategy.

The Lehman Brothers Government/Credit Bond Index and the Lehman Brothers Aggregate Bond Index are unmanaged indices that are commonly used as benchmarks to measure fixed income performance and characteristics.

The investment services and products described on this site are for U.S. and Canadian persons only. This site is not to be construed as an offer or solicitation of any investment services or products to investors residing outside the United States or Canada.

This site is controlled and monitored from the United States of America and no representation is made that materials are appropriate or available for use in other locations.

Disclosure for Top Ten Holdings

References to specific securities are not intended as recommendations of said securities and carry no implications about past or future performance. Stock references might include non-public information.

The investment services and products described on this site are for U.S. and Canadian persons only. This site is not to be construed as an offer or solicitation of any investment services or products to investors residing outside the United States or Canada.

This site is controlled and monitored from the United States of America and no representation is made that materials are appropriate or available for use in other locations.