Investment Strategies - Fixed Income
Separate Accounts
PORTFOLIO CHARACTERISTICS AS OF DECEMBER 31, 2011
| M&C Fixed Income | Barclays Capital Gov't/Credit | Barclays Capital Aggr | |
|---|---|---|---|
| Average YTM | 1.6 | 2.0 | 2.2 |
| Average Coupon | 4.0 | 3.3 | 4.0 |
| Average Maturity | 5.29 Yrs | 8.30 Yrs | 6.94 Yrs |
| Average Quality | Aa2 | Aa2 | Aa1 |
| Current Yield | 3.67 | 3.31 | 3.67 |
| Effective Duration | 4.15 | 6.01 | 4.84 |
DISTRIBUTION BY MATURITY AS OF DECEMBER 31, 2011(%)
| M&C Fixed Income | Barclays Capital Gov't/Credit | Barclays Capital Aggr | |
|---|---|---|---|
| 0-1 | 3.38 | 0.00 | 0.00 |
| 1-2 | 8.36 | 16.50 | 11.40 |
| 2-3 | 21.14 | 14.20 | 13.10 |
| 3-4 | 18.61 | 9.60 | 14.40 |
| 4-5 | 20.48 | 11.40 | 23.30 |
| 5-7 | 6.83 | 13.50 | 14.40 |
| 7-10 | 11.64 | 15.30 | 10.30 |
| 10-15 | 0.00 | 2.20 | 1.40 |
| 15-20 | 0.00 | 3.00 | 2.00 |
| 20-25 | 2.97 | 2.80 | 1.90 |
| 25+ | 3.58 | 11.50 | 7.70 |
TOP TEN HOLDINGS AS OF DECEMBER 31, 2011
| Company | % Owned | |
|---|---|---|
| 1 | U.S. Treasury Note 2.625% Due 04-30-16 | 4.5% |
| 2 | U.S. Treasury Note 3.125% Due 05-15-19 | 4.3% |
| 3 | U.S. Treasury Note 4.000% Due 02-15-14 | 4.2% |
| 4 | U.S. Treasury Note 4.000% Due 02-15-15 | 4.1% |
| 5 | General Electric Capital Corp. 4.375% Due 09-16-20 | 3.8% |
| 6 | Wal-Mart Stores Inc. 3.200% Due -5-5-14 | 3.8% |
| 7 | US Bancorp 4.200% Due 05-15-14 | 3.6% |
| 8 | Merk & Co. Inc. 4.750% Due 03-01-15 | 3.6% |
| 9 | Google Inc. 3.625% Due 05-19-21 | 3.5% |
| 10 | The Coca-Cola Company 5.350% Due 11-15-17 | 3.5% |
Disclosure
Source: BondEdge, Advent/AXYS
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 Barclays Capital Government/Credit Bond Index and the Barclays Capital 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.
