Investment Strategies - Fixed Income
Separate Accounts
Portfolio Characteristics as of June 30, 2008
| M&C Fixed Income | LB Govt/Credit | LB 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 Income | LB Govt/Credit | LB 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 | |
|---|---|---|
| 1 | FNMA 933735 5.000% | 4.9% |
| 2 | FHLMC Gold G03035 5.500% | 4.7% |
| 3 | FHLMC Gold G03811 5.500% | 4.7% |
| 4 | U S Treasury Note 4.500% | 4.5% |
| 5 | U S Treasury 4.500% | 4.5% |
| 6 | Freddie Mac 6.625% | 4.2% |
| 7 | U S Treasury Note 4.250% | 4.0% |
| 8 | Citigroup Inc 5.125% | 3.9% |
| 9 | Freddie Mac 5.125% | 3.8% |
| 10 | Fannie 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.
