SEMI-ANNUAL REPORT - First Investors

More documents

Recommendations

Info

Portfolio of Investments (continued) FLOATING RATE FUND March 31, 2014 Principal Amount Security Value Retail-General Merchandise (continued) $ 597 M Pilot Travel Centers, LLC, 3.75%, 3/30/2018 $ 600,022 497 M Wendy’s International, Inc., 3.25%, 5/15/2019 496,915 6,458,198 Services—2.7% 300 M Allied Security Holdings, LLC, 4.25%, 2/12/2021 (a) 299,532 Brickman Group, Ltd., LLC: 488 M 4%, 12/18/2020 489,835 1 M 5.25%, 12/18/2020 1,231 623 M Garda World Security Corp., 4%, 11/6/2020 625,385 497 M Monitronics International, Inc., 4.25%, 3/23/2018 499,450 1,915,433 Telecommunications—1.3% 900 M XO Communications, Inc., 4.25%, 3/4/2021 (a) 906,750 Utilities—.7% 497 M Calpine Corp., 4%, 10/9/2019 500,238 Wireless Communications—2.1% 845 M Crown Castle Operating Co., 3.25%, 1/31/2019 845,834 600 M Intelsat Jackson Holdings SA, 3.75%, 6/30/2019 602,813 1,448,647 Total Value of Loan Participations (cost $60,709,336) 60,829,964 CORPORATE BONDS—8.0% Automotive—.8% 500 M Goodyear Tire & Rubber Co., 8.25%, 8/15/2020 559,375 Consumer Non-Durables—1.5% 500 M Hanesbrands, Inc., 6.375%, 12/15/2020 548,750 500 M Reynolds Group Issuer, Inc., 7.125%, 4/15/2019 531,250 1,080,000 Energy—.4% 250 M Expro Finance Luxembourg SCA, 8.5%, 12/15/2016 (b) 261,719 Gaming/Leisure—.4% 250 M National CineMedia, LLC, 7.875%, 7/15/2021 277,187 34
Principal Amount Security Value Health Care—1.0% Community Health Systems, Inc.: $ 250 M 5.125%, 8/15/2018 $ 263,125 75 M 8%, 11/15/2019 82,781 300 M HCA, Inc., 7.25%, 9/15/2020 325,125 671,031 Media-Cable TV—1.3% 475 M CCO Holdings, LLC, 8.125%, 4/30/2020 521,313 150 M Unitymedia Hessen GmbH & Co., 7.5%, 3/15/2019 (b) 163,500 200 M Virgin Media Finance, PLC, 8.375%, 10/15/2019 215,000 899,813 Metals/Mining—.4% 300 M FMG Resources (August 2006) Property, Ltd., 6%, 4/1/2017 (b) 316,688 Retail-General Merchandise—.8% 250 M Michaels Stores, Inc., 7.75%, 11/1/2018 268,438 300 M Sally Holdings, LLC, 6.875%, 11/15/2019 330,000 598,438 Services—.2% 100 M FTI Consulting, Inc., 6.75%, 10/1/2020 108,250 Telecommunications—.4% 250 M PAETEC Holding Corp., 9.875%, 12/1/2018 275,625 Wireless Communications—.8% 550 M MetroPCS Wireless, Inc., 7.875%, 9/1/2018 585,750 Total Value of Corporate Bonds (cost $5,601,708) 5,633,876 Total Value of Investments (cost $66,311,044) 94.7% 66,463,840 Other Assets, Less Liabilities 5.3 3,712,967 Net Assets 100.0% $70,176,807 † Interest rates are determined and reset periodically. The interest rates above are the rates in effect at March 31, 2014. (a) A portion or all of the security purchased on a when-issued or delayed delivery basis. (b) Security exempt from registration under Rule 144A of the Securities Act of 1933 (see Note 4). 35
Page 1 and 2: SEMI-ANNUAL REPORT INCOME FUNDS ■
Page 3 and 4: Market Overview FIRST INVESTORS INC
Page 5 and 6: Thank you for placing your trust in
Page 7 and 8: Fund Expenses (unaudited) CASH MANA
Page 9 and 10: Principal Amount Security Interest
Page 11 and 12: Fund Expenses (unaudited) GOVERNMEN
Page 13 and 14: Principal Amount Security Value COM
Page 15 and 16: Fund Expenses (unaudited) INVESTMEN
Page 17 and 18: Principal Amount Security Value Fin
Page 19 and 20: Principal Amount Security Value Inf
Page 21 and 22: Accounting Standards Codification 8
Page 23 and 24: Portfolio of Investments (continued
Page 25 and 26: Fund Expenses (unaudited) INTERNATI
Page 27 and 28: Principal Amount Security Value Sou
Page 29 and 30: (a) Interest rates are determined a
Page 31 and 32: Fund Expenses (unaudited) FLOATING
Page 35: Principal Amount Security Value Man
Page 39 and 40: Fund Expenses (unaudited) FUND FOR
Page 41 and 42: Principal Amount Security Value Con
Page 43 and 44: Principal Amount Security Value Ene
Page 45 and 46: Principal Amount Security Value Hea
Page 47 and 48: Principal Amount Security Value Med
Page 49 and 50: Principal Amount Security Value Ser
Page 51 and 52: Principal Amount Security Value Was
Page 53 and 54: Principal Amount Security Value PAS
Page 55 and 56: The following is a reconciliation o
Page 59 and 60: Shares Security Value Health Care
Page 61 and 62: Shares or Principal Amount Security
Page 65 and 66: Principal Amount Security Value Rea
Page 67 and 68: Principal Amount Security Value SHO
Page 69 and 70: Fund Expenses (unaudited) EQUITY IN
Page 71 and 72: Shares Security Value Energy—8.3%
Page 73 and 74: Shares Security Value Information T
Page 75 and 76: * Non-income producing (a) A portio
Page 77 and 78: Fund Expenses (unaudited) GROWTH &
Page 79 and 80: Shares Security Value Energy—10.1
Page 81 and 82: Shares Security Value Information T
Page 83 and 84: Accounting Standards Codification 8
Page 87 and 88:
Shares Security Value Japan (contin
Page 89 and 90:
Principal Amount Security Value SHO
Page 91 and 92:
Fund Expenses (unaudited) SELECT GR
Page 93 and 94:
Shares or Principal Amount Security
Page 95 and 96:
Fund Expenses (unaudited) OPPORTUNI
Page 97 and 98:
Shares Security Value Energy (conti
Page 99 and 100:
Shares Security Value Information T
Page 101 and 102:
Accounting Standards Codification 8
Page 103 and 104:
Portfolio of Investments (continued
Page 105 and 106:
Shares Security Value Industrials (
Page 107 and 108:
Accounting Standards Codification 8
Page 109 and 110:
Portfolio of Investments (continued
Page 111 and 112:
Shares or Principal Amount Security
Page 113 and 114:
Level 1 Level 2 Level 3 Total Japan
Page 115 and 116:
GOVERNMENT INVESTMENT GRADE STRATEG
Page 117 and 118:
Page 119 and 120:
FLOATING RATE FUND FOR INCOME $ 66,
Page 121 and 122:
FLOATING RATE FUND FOR INCOME $66,1
Page 123 and 124:
EQUITY INCOME GROWTH & INCOME GLOBA
Page 125 and 126:
Page 127 and 128:
OPPORTUNITY SPECIAL SITUATIONS INTE
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
FLOATING RATE* FUND FOR INCOME $ 70
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
10/1/2013 to 3/31/2014 GOVERNMENT I
Page 141 and 142:
10/1/2013 to 3/31/2014 GOVERNMENT I
Page 143 and 144:
FLOATING RATE 10/21/2013 to 3/31/20
Page 145 and 146:
FLOATING RATE 10/21/2013 to 3/31/20
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
10/1/2013 to 3/31/2014 OPPORTUNITY
Page 153 and 154:
10/1/2013 to 3/31/2014 OPPORTUNITY
Page 155 and 156:
Special Situations Fund seeks long-
Page 157 and 158:
Foreign exchange contracts that are
Page 159 and 160:
investments. These changes are incl
Page 161 and 162:
The Strategic Income Fund may inves
Page 163 and 164:
Special Situations Fund—1% on the
Page 165 and 166:
limitation has been made by ADM, pr
Page 167 and 168:
transactions, but rather represents
Page 169 and 170:
The effect of International Opportu
Page 171 and 172:
defined-compensation plans (the “
Page 173 and 174:
Total Return* Net Assets End of Per
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
R A T I O S / S U P P L E M E N T A
Page 181 and 182:
Page 183 and 184:
Net Asset Value, End of Period Tota
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
This page left intentionally blank.
Page 191 and 192:
In our opinion, the financial state
Page 193 and 194:
• Total expenses of the New Fund
Page 195 and 196:
Shareholder Information Investment
Page 197 and 198:
NOTES 195
Page 199 and 200:
NOTES 197
show all

SEMI-ANNUAL REPORT - First Investors

Create successful ePaper yourself

Delete template?

Save as template?