Asset Allocation

As of December 31, 2025.
Type % Net
Cash 0.18%
Stock 0.00%
Bond 93.46%
Convertible 0.00%
Preferred 0.00%
Other 6.37%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 80.56%
Corporate 17.17%
Securitized 0.00%
Municipal 1.29%
Other 0.98%
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Region Exposure

% Developed Markets: 7.30%    % Emerging Markets: 85.99%    % Unidentified Markets: 6.71%

Americas 30.08%
2.93%
United States 2.93%
27.15%
Argentina 3.19%
Brazil 2.81%
Colombia 3.21%
Mexico 4.85%
Venezuela 0.91%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 52.54%
United Kingdom 1.23%
2.23%
Ireland 0.56%
Netherlands 0.21%
14.23%
Turkey 5.17%
34.84%
Egypt 3.70%
Nigeria 3.33%
South Africa 3.61%
Greater Asia 10.67%
Japan 0.00%
0.00%
0.00%
10.67%
China 0.55%
India 1.34%
Kazakhstan 3.35%
Pakistan 1.05%
Unidentified Region 6.71%

Bond Credit Quality Exposure

AAA 2.65%
AA 0.34%
A 0.00%
BBB 14.41%
BB 31.81%
B 21.78%
Below B 14.96%
    CCC 13.00%
    CC 1.05%
    C 0.19%
    DDD 0.00%
    DD 0.00%
    D 0.71%
Not Rated 1.23%
Not Available 12.82%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
8.05%
Less than 1 Year
8.05%
Intermediate
68.79%
1 to 3 Years
10.71%
3 to 5 Years
14.87%
5 to 10 Years
43.21%
Long Term
23.16%
10 to 20 Years
6.40%
20 to 30 Years
15.61%
Over 30 Years
1.15%
Other
0.00%
As of December 31, 2025
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