ABN AMRO Funds

Statement of investments -Preferred Securities Fund 31-10-2005Statement of investments -Preferred Securities Fund 31-10-2005nominal inUSD unlessspecifiedTransferable securities admittedto exchange listing or dealt in onanother regulated marketmarketvaluex EUR 1,000 %BONDSAustralia1,000,000 5.647% QBE Insurance Group 03 - 01.07.2023 986 0.701,700,000 8.485% St George Funding 97 - 30.06.2017 5555 1,829 55 1.312,815 2.01Singapore1,000,000 5.375% United Overseas Bank 04 - 03.09.20195555 995 55 0.71995 0.71Sweden2,000,000 9.000% ForeningsSparbanken 00 - 29.12.2049 5555 2,285 55 1.632,285 1.63United Kingdom1,000,000 8.550% Barclays Bank 00 - 15.06.2049 1,159 0.83500,000 6.500% Prudential 03 - 29.06.2049 495 0.355555 551,654 1.18nominal inUSD unlessspecifiedTransferable securities admittedto exchange listing or dealt in onanother regulated marketmarketvaluex EUR 1,000 %FLOATING RATE NOTESUnited States1,000,000 Barclays Bank 05 15.12.2034 945 0.681,000,000 JP Morgan Chase Capital XIII 04 30.09.2034 997 0.711,000,000 Lehman Brothers HoldingsE-Capital Trust I 05 19.08.2065 1,003 0.721,000,000 Twin Reefs Pass-Through Trust 0410.12.2049 5555 998 55 0.713,943 2.825555 55TOTAL FLOATING RATE NOTES 3,943 2.82INVESTMENTS 131,621 94.00OTHER ASSETS LESS LIABILITIES (Including accrued interest) 8,396 6.00TOTAL NET ASSETS 140,017 100.00United States1,000,000 7.780% Bank of New YorkInstitutional Capital Trust 96 -01.12.2026 1,065 0.762,000,000 7.200% BNP Paribas Capital Trust V 02 -31.12.2049 2,043 1.46500,000 7.900% BT Capital Trust B 97 - 15.01.2027 531 0.381,100,000 7.875% BT Preferred Capital Trust II 97 -25.02.2027 1,173 0.841,000,000 7.000% CA Preferred Funding Trust 03 -30.01.2049 1,016 0.731,000,000 5.805% CBA Capital Trust I 03 - 31.12.2049 1,012 0.72400,000 8.845% Centura Capital Trust I 97 - 01.06.2027 437 0.311,000,000 8.000% Countrywide Capital I 96 - 15.12.2026 1,028 0.73500,000 9.330% Dime Capital Trust I 97 - 06.05.2027 551 0.39500,000 8.675% Executive Risk Capital Trust 97 -01.02.2027 538 0.381,000,000 8.277% First Empire Capital Trust II 97 -01.06.2027 1,081 0.771,500,000 8.410% First Security Cap I 97 - 15.12.2026 1,609 1.151,225,000 9.100% Greenpoint Capital Trust I 97 -01.06.2027 1,335 0.951,000,000 6.413% HBOS 05 - 29.09.2049 962 0.69450,000 8.380% HSBC America Capital Trust II 97 -15.05.2027 487 0.351,250,000 9.860% KBC Bank Funding Trust III 99 -31.12.2049 1,454 1.041,500,000 6.875% KeyCorp Capital II 99 - 17.03.2029 1,618 1.161,000,000 8.560% KN Capital Trust I 97 - 15.04.2027 1,076 0.771,000,000 7.995% Mellon Capital II 96 - 15.01.2027 1,069 0.761,000,000 8.375% MIC Financing Trust I 97 - 01.02.2027 1,030 0.741,500,000 7.950% PNC Institutional Capital Trust A 96 -15.12.2026 1,597 1.141,000,000 6.564% Popular North America Capital Trust I 04 -15.09.2034 1,004 0.721,000,000 7.640% Socgen Real Estate 97 - 29.12.2049 1,047 0.751,500,000 8.622% UBS Preferred Funding Trust I 00 -29.10.2049 1,718 1.231,000,000 4.028% Unicredito Italiano Capital Trust III 05 -27.10.2049 1,168 0.831,000,000 8.200% Union Planters Capital Trust - A - 97 -15.12.2026 1,068 0.761,000,000 8.197% WR Berkley Capital Trust 97 -15.12.2045 5555 1,025 55 0.7329,742 21.245555 55TOTAL BONDS 37,491 26.7772