<strong>Portfolio</strong> <strong>of</strong> <strong>Investments</strong> (continued)INTERNATIONAL OPPORTUNITIES BOND FUNDSeptember 30, 2013PrincipalAmount Security ValueHungary—2.7%Hungary Government Bond:$535,000 M HUF 5.5%, 2/12/2016 $ 2,503,35569,000 M HUF 7.5%, 11/12/2020 352,3442,855,699Ireland—2.0%Republic <strong>of</strong> Ireland:885 M EUR 4.5%, 4/18/2020 1,263,954575 M EUR 5%, 10/18/2020 843,9882,107,942Turkey—1.3%2,795 M TRY Republic <strong>of</strong> Turkey, 9%, 3/5/2014 1,392,768Brazil—1.1%Nota Do Tesouro Nacional:1 M BRL 9.76%, 1/1/2021 214,0192 M BRL 9.76%, 1/1/2023 932,3871,146,406Total Value <strong>of</strong> Sovereign Bonds (cost $64,398,884) 63,664,613GOVERNMENT REGIONAL AGENCY—10.0%Australia—9.6%3,950 M AUD New South Wales Treasury Corp., 6%, 4/1/2016 3,962,373Queensland Treasury Corp.:3,260 M AUD 6.25%, 2/21/2020 3,404,427735 M AUD 6%, 7/21/2022 756,6672,045 M AUD Treasury Corp. <strong>of</strong> Victoria, 5.75%, 11/15/2016 2,058,96110,182,428Netherlands—.4%466 M USD Bank Nederlanse Gemeenten, 1%, 11/17/2014 (b) 469,147Total Value <strong>of</strong> Government Regional Agency (cost $11,520,103) 10,651,575GOVERNMENT SOVEREIGN AGENCY—5.8%Sweden—3.0%3,200 M USD Swedish Export Credit, 0.625%, 9/4/2015 3,210,71438
PrincipalAmount Security ValueNorway—1.2%$ 1,250 M USD Kommunalbanken AS, 0.33185%, 3/18/2016 (a)(b) $ 1,249,930Denmark—.9%940 M USD KommuneKredit, 0.3141%, 11/20/2014 (a) 940,653Canada—.7%1,677 M BRL Export Development Canada, 5.125%, 7/31/2014 733,388Total Value <strong>of</strong> Government Sovereign Agency (cost $6,239,231) 6,134,685U.S. GOVERNMENT OBLIGATIONS—5.7%United States6,010 M USD U.S. Treasury Note, 0.25%, 6/30/2014 (cost $6,013,738) 6,017,278GOVERNMENT GUARANTEED PROGRAM—5.5%Germany—3.5%1,000 M USD Erste Abwicklungsanstalt, 0.4581%, 6/7/2016 (a) 999,709Kreditanstalt fuer Wiederaufbau:905 M USD 0.375%, 5/15/2015 (c) 905,1431,735 M AUD 6.25%, 12/4/2019 (c) 1,799,0903,703,942Netherlands—1.3%1,350 M USD Neder Waterschapsbank, 0.3138%, 10/27/2014 (a)(b) 1,350,609New Zealand—.7%720 M USD Wespac Securities New Zealand, Ltd., 3.45%, 7/28/2014 (b) 738,729Total Value <strong>of</strong> Government Guaranteed Program (cost $6,016,912) 5,793,280SUPRANATIONAL—2.0%United States—1.1%2,800 M BRL Inter-American Development Bank, 5.25%, 7/19/2016 1,140,478Phillipines—.5%1,272 M BRL Asian Development Bank, 5.25%, 9/25/2015 532,051Luxembourg—.4%1,150 M BRL European Investment Bank, 6%, 1/25/2016 (b) 485,820Total Value <strong>of</strong> Supranational (cost $2,610,983) 2,158,34939
- Page 1 and 2: 2013 ANNUAL REPORTINCOME FUNDS■ C
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Portfolio of Investments (continued
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Shares Security ValueFinancials (co
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Shares orPrincipalAmount Security V
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Portfolio Manager’s LetterGROWTH
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Fund Expenses (unaudited)GROWTH & I
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* Average Annual Total Return figur
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Shares Security ValueEnergy—10.0%
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Shares Security ValueIndustrials (c
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Accounting Standards Codification (
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France-based global insurance and i
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Cumulative Performance Information
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Portfolio of Investments (continued
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Shares Security ValueJapan—10.9%9
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Shares Security ValueItaly—2.8%14
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Shares orPrincipalAmount Security V
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Level 1 Level 2 Level 3 TotalCommon
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We continue to believe our focus on
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Cumulative Performance Information
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Portfolio of Investments (continued
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Accounting Standards Codification (
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Elsewhere in the consumer staples s
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Cumulative Performance Information
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Portfolio of Investments (continued
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Shares Security ValueHealth Care (c
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PrincipalAmount Security ValueSHORT
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Portfolio Manager’s LetterSPECIAL
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Fund Expenses (unaudited)SPECIAL SI
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* Average Annual Total Return fi gu
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Shares Security ValueEnergy (contin
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Shares orPrincipalAmount Security V
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Portfolio Manager’s LetterINTERNA
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Fund Expenses (unaudited)INTERNATIO
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initial $10,000 investment in the F
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Shares Security ValueUnited States
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Accounting Standards Codification (
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INVESTMENTGRADESTRATEGICINCOMEINTER
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INVESTMENTGRADESTRATEGICINCOMEINTER
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EQUITYINCOMEGROWTH &INCOMEGLOBAL$ 3
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EQUITYINCOMEGROWTH &INCOMEGLOBAL$ 4
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OPPORTUNITYSPECIALSITUATIONSINTERNA
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OPPORTUNITYSPECIALSITUATIONSINTERNA
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INVESTMENTGRADESTRATEGICINCOME*INTE
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EQUITYINCOMEGROWTH &INCOMEGLOBAL$ 1
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OPPORTUNITYSPECIALSITUATIONSINTERNA
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GOVERNMENTINVESTMENT GRADESTRATEGIC
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GOVERNMENTINVESTMENT GRADESTRATEGIC
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FUND FORINCOME2013 2012$ 33,007,680
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FUND FORINCOME2013 201241,692,426 3
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EQUITY INCOME GROWTH & INCOME GLOBA
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EQUITY INCOME GROWTH & INCOME GLOBA
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OPPORTUNITY SPECIAL SITUATIONS INTE
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OPPORTUNITY SPECIAL SITUATIONS INTE
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A. Security Valuation—Except as p
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The aggregate value by input level,
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International Opportunities Bond Fu
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The Strategic Income Fund may inves
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net assets over $1.5 billion. For t
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investment subadviser to Global Fun
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For the year ended September 30, 20
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8. Capital—The Trusts are authori
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* Other accumulated losses consist
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with the Bondholder Plaintiffs and
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TotalReturn*Net AssetsEnd of Year(i
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TotalReturn*Net AssetsEnd of Year(i
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R A T I O S / S U P P L E M E N T A
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TotalReturn*Net AssetsEnd of Year(i
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Net AssetValue,End ofYearTotalRetur
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TotalReturn*Net AssetsEnd of Year(i
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TotalReturn*Net AssetsEnd of Year(i
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In our opinion, the financial state
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Management Fund. In addition, at th
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complex and that, unlike many other
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Based on the information considered
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Funds, which are discussed below. T
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• The cost of services to be prov
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collectively the “Funds”): Grow
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determinations with respect to the
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noted that FIMCO changed the portfo
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Profitability. The Board reviewed t
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Length ofTime Served Number of Othe
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Length ofTime Served Number of Othe
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A description of the policies and p
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NOTES255
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NOTES257