Asset Allocation

As of December 31, 2025.
Type % Net
Cash 3.05%
Stock 0.00%
Bond 93.19%
Convertible 0.00%
Preferred 0.00%
Other 3.76%
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Bond Sector Exposure

As of December 31, 2025
Type % Net
Government 78.13%
Corporate 20.81%
Securitized 0.00%
Municipal 0.74%
Other 0.32%
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Region Exposure

% Developed Markets: 16.45%    % Emerging Markets: 76.37%    % Unidentified Markets: 7.17%

Americas 42.27%
3.60%
Canada 0.36%
United States 3.24%
38.68%
Argentina 3.83%
Brazil 2.62%
Chile 2.51%
Colombia 2.56%
Mexico 3.87%
Peru 2.47%
Venezuela 1.50%
As of December 31, 2025. Region breakdown data is calculated by using the long position holdings of the portfolio.
Greater Europe 35.87%
United Kingdom 0.49%
3.11%
Ireland 0.65%
Netherlands 0.64%
10.75%
Poland 1.00%
Turkey 2.75%
21.52%
Egypt 3.32%
Nigeria 2.10%
Saudi Arabia 0.57%
South Africa 1.15%
United Arab Emirates 3.31%
Greater Asia 14.68%
Japan 0.00%
0.36%
Australia 0.36%
0.61%
Hong Kong 0.61%
13.71%
India 0.62%
Indonesia 3.63%
Kazakhstan 1.04%
Malaysia 0.91%
Pakistan 1.49%
Philippines 1.09%
Unidentified Region 7.17%

Bond Credit Quality Exposure

AAA 0.37%
AA 2.15%
A 5.82%
BBB 27.12%
BB 24.85%
B 19.30%
Below B 10.89%
    CCC 10.33%
    CC 0.00%
    C 0.19%
    DDD 0.00%
    DD 0.00%
    D 0.38%
Not Rated 1.64%
Not Available 7.86%
Short Term 0.00%
As of December 31, 2025
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Bond Maturity Exposure

Short Term
7.24%
Less than 1 Year
7.24%
Intermediate
50.06%
1 to 3 Years
6.39%
3 to 5 Years
16.60%
5 to 10 Years
27.07%
Long Term
40.95%
10 to 20 Years
12.48%
20 to 30 Years
21.58%
Over 30 Years
6.89%
Other
1.75%
As of December 31, 2025
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