Level Two: Manager Fact Sheet
Used in the Directed Account Plan Stable Value Option
as of 6/30/10
The objective of the Wellington Core Bond portfolio is to achieve a long-term rate of return in excess of the broad investment grade U.S. bond market. The portfolio is expected to have a stable management style, and over a three-year period provide an annualized total return, net of fees, at least equal to the annualized rate of return of the Barclays US Aggregate Bond Index plus 35 basis points per annum.
Top Five Holdings (%)
| US Treas Note/Bond 0.6250% 06-30-12 | 8.4 |
| FNMA #9999999 Cnv30 5.5000% 07-01-40 | 7.2 |
| Fannie Mae 2.7500% 03-13-14 | 4.6 |
| FHLMC 4.5000% 01-15-13 | 3.1 |
| FNMA #9999999 Cnv30 6.0000% 07-01-40 | 3.0 |
These holdings are not indicative of future portfolio composition. Because this is a managed portfolio, the investment mix will change.
Portfolio Composition (%)*
| Pass-Thrus | 34.2 |
| Corp | 28.7 |
| Treasuries | 13.9 |
| Agencies | 10.5 |
| CMBS | 5.9 |
| CMO | 2.1 |
| ABS | 4.3 |
| Cash Equiv. | 1.6 |
| Municipal | 1.0 |
Annual Performance
Comparison to Benchmark
Investment Statistics
| Yield | Duration | Quality | |
| Portfolio: | 2.64 | 3.96 | AA |
| Barclays US Aggregate: | 2.29 | 4.30 | AA+ |
Wellington Core Bond portfolio market value as of 6/30/10: $179.1 million
* Note
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.