Ganancia/pérdida

No. de títulos

Descripción de los valores

Valor contable

Valor de mercado

no realizada

540000

FHLMC DEB DTD 07/10/2000 7 07-15-2005

566,659.80

550,368.00

16291.8

100000

U.S. TREAS 6.25 NT DUE 02-28-2002 REG

100,875.00

99,015.63

1859.37

159000

US T BOND 6.25% (WI) BDS 15/05/2030

177,383.58

171,820.00

5563.58

105000

US TREAS BDS 6.125 DUE 08-15-2029 REG

114,204.30

107,165.63

7038.67

1259000

US TREAS BDS BD 5.25 DUE 02-15-2029 REG

1,206,084.23

1,112,838.61

93245.62

375000

US TREAS NT 4.75 DUE 02-15-2004 REG

370,428.75

356,132.81

14295.94

70000

US TREAS NTS DTD 00854 6 DUE 08-15-2009 REG

73,861.20

70,275.54

3585.66

600000

US TREAS NTS DTD 00874 5.75 DUE 08-15-2010 REG

628,782.00

612,812.50

15969.5

1705000

USA TREASURY BDS 6% 15/2/2026 USD1000

1,796,643.75

1,710,168.47

86475.28

125000

USA TREASURY BDS 7.875% 15/2/21 USD1000

159,062.50

149,384.77

9677.73

155000

USA TREASURY NTS 5.5% 31/12/2000 USD1000

155,000.00

154,690.16

309.84

74000

USA TREASURY NTS 7.25% 15/5/04 USD1000

78,729.34

74,896.10

3833.24

130000

USA TREASURY STRIP STRIP INT PMT 15/2/11 USD

76,455.60

76,454.30

1.3

125000

AXA SA US$ SUB NT 8.6 DUE 12-15-2030 BEO

127,143.75

124,643.75

2500

260000

ING CAP FUNDING TR GTD TR PRD VAR RATE PREP

264,513.86

260,000.00

4513.86

275000

CITIGROUP INC SUB NT 7.25 DUE 10-01-2010BEO

284,429.75

273,740.50

10689.25

105000

DUKE ENERGY FIELD SVCS LLC NT 7.875 DUE 08-16-2010 BEO

111,777.75

104,878.20

6899.55

105000

ENERGY EAST CORP 8.08% NT 15/11/2010

107,468.55

104,942.25

2526.3

260000

FORD MTR CR CO 7.875 DUE 06-15-2010BEO

268,481.76

259,183.60

9298.16

130000

KEYSPAN CORP 8% NOTES 15.11.2030

139,950.20

129,797.20

10153

500000

NEWS AMER HLDGS INC GTD SR 10.125 DEB DUE 10-15-2012 REG

533,585.00

567,335.00

-33750

858022.71

DLJ MTG ACCEP CORP SER 1998-2 6.75 CTF DUE 06-19-2028 BEO

847,297.43

861,709.52

-14412.09

950000

FED NATL MORT ASSC 6.625% BDS 15/11/10 USD1000

996,901.50

946,661.30

50240.2

395000

FED NATL MORT ASSC 6.625% NTS 15/10/2007 USD10

412,218.05

392,795.90

19422.15

636741.19

FHLMC GOLD POOL C00921 7.5 02-01-2030

646,489.70

623,906.88

22582.82

239966.88

FNMA POOL #535039 8 DUE 12-01-2029 REG

245,889.26

243,678.88

2210.38

566312.66

FNMA POOL #535095 8 DUE 01-01-2030 REG

580,289.26

578,258.32

2030.94

434726.87

GNMA, POOL # 780250 SERIES 2025 7.5% DUE 09-15-2025

442,334.59

440,670.48

1664.11

750000

DISCOVER CARD MASTER TR I 1998-7 CR CTF CL A 5.6 DUE 05-16-2006 BEO

742,732.50

705,468.76

37263.74

325000

LB UBS 6.51% 2000-C5 A2 15.11.2010

326,768.33

326,459.90

308.43

Subtotal

12,582,441.29

12,190,152.96

Renta acumulada

190,496.65

190,496.65

Total

12,772,937.94

12,380,649.61

392,288.33

Ganancia/pérdida

No. de títulos

Descripción de los valores

Valor contable

Valor de mercado

no realizada

11,500,000

DENMARK(KINGDOM) 7% BDS 15/12/04 DKK0.01

1,552,013.23

1,902,240.25

-350227.02

4,630,000

FRANCE(GOVT OF) 5.5% OAT 25/4/2029 EUR1

4,353,407.57

4,169,493.65

183913.92

2,180,020

FRANCE(GOVT OF) 8.5% OAT 25/10/08 EUR1

2,519,509.00

3,445,038.02

-925529.02

3,891,779

GERMANY(FED REP) 5.625% BDS 4/1/28 EUR0.01

3,757,940.06

3,897,509.11

-139569.05

3,809,124

GERMANY(FED REP) 6.5% BDS 14/10/05 EUR0.01

3,859,798.83

4,699,018.56

-839219.73

2,608,102

ITALY(REP OF) 8.5% BTP 1/8/2004 EUR0.01

2,732,663.46

3,286,949.80

-554286.34

3,260,000

NEW ZEALAND(GOVT) 8% LN 15/4/2004 NZD100

1,524,340.57

1,696,586.06

-172245.49

2,614,402

SPAIN(KINGDOM OF) 8% BDS 30/5/04 EUR

2,704,164.45

3,282,282.12

-578117.67

15,900,000

SWEDEN(KINGDOM OF) 8% BDS 15/8/2007 SEK '1037'

1,999,738.22

2,432,647.58

-432909.36

1,000,000

JAPAN FINANCE CORP 9.125% GTD BDS 16/2/05 GBP

1,660,293.09

1,935,672.22

-275379.13

170,000,000

INTL BANK RECON&DV 4.5% BDS 20/3/03 JPY

1,619,844.15

1,721,162.45

-101318.3

3,000,000

BIRKA ENERGI AB 6.375% MTN 03/11/2006 EUR

2,883,310.02

2,752,923.44

130386.58

3,600,000

BAT INTL FINANCE 4.875% GTD MTN 25/02/09 EUR

2,985,269.40

3,598,579.26

-613309.86

280,000,000

GEN MTRS ACCEP CORP NT CPN RT=3MO YLIBOR+10BP DUE 07-26-2002 BEO

2,441,541.16

2,458,098.79

-16557.63

666,000,000

KFW INTERNATIONAL 1.75% BK GUAR 23.03.2010

5,937,822.81

6,152,448.85

-214626.04

Subtotal

42,531,656.02

47,430,650.16

Renta acumulada

1,071,884.74

1,071,884.74

Total

43,603,540.76

48,502,534.90

(4,898,994.14)

Ganancia/pérdida

No. de títulos

Descripción de los valores

Valor contable

Valor de mercado

no realizada

594,056

FIDUCIARY INTL EMERG MKTS BD

5,887,091.49

5,925,512.20

(38,420.71)

309,733

FIDUCIARY TST GBL US HIGH GWTH EQ FD

10,843,746.38

3,430,368.00

7,413,378.38

32,500

ASIA EX JAPAN EQT FD UNT 10 PLAC

249,275.00

325,000.00

(75,725.00)

TOTAL

16,980,112.87

9,680,880.20

7,299,232.67

Ganancia/pérdida

No. de títulos

Descripción de los valores

Valor contable

Valor de mercado

no realizada

0

SWISS FRANC

-

-

0

0

GERMAN DEUTSCHE MARK

-

-

0

0

SPANISH PESETA

-

-

0

0

EURO

-

-

0

0

BRITISH POUND STERLING

-

-

0

0

SINGAPORE DOLLAR

-

-

0

0

UNITED STATES DOLLAR

-

-

0

337.1

SWISS FRANC

337.10

337.10

0

79.35

DANISH KRONE

79.35

79.35

0

-1414888.29

EURO

(1,414,888.29)

(1,414,888.29)

0

823.09

BRITISH POUND STERLING

823.09

823.09

0

81166.08

GREEK DRACHMA

81,166.08

81,166.08

0

70.61

HONG KONG DOLLAR

70.61

70.61

0

502.35

JAPANSESE YEN

502.35

502.35

0

187584.4

MEXICAN PESO

187,584.40

187,584.40

0

110.3

NORWEGIAN KRONE

110.30

110.30

0

354

NEW ZEALAND DOLLAR

354.00

354.00

0

-86074.79

SWEDISH KRONA

(86,074.79)

(86,074.79)

0

124.83

SINGAPORE DOLLAR

124.83

124.83

0

1203949.4

SWISS FRANC

1,203,949.40

1,203,949.40

0

416357.44

DANISH KRONE

416,357.44

416,357.44

0

0

EURO

-

-

0

1035209.06

BRITISH POUND STERLING

1,035,209.06

1,035,209.06

0

0

GREEK DRACHMA

-

-

0

1110911.68

HONG KONG DOLLAR

1,110,911.68

1,110,911.68

0

3683887.92

JAPANSESE YEN

3,683,887.92

3,683,887.92

0

412239.16

MEXICAN PESO

412,239.16

412,239.16

0

143561.83

NORWEGIAN KRONE

143,561.83

143,561.83

0

115049.85

NEW ZEALAND DOLLAR

115,049.85

115,049.85

0

0

SWEDISH KRONA

-

-

0

988465.97

SINGAPORE DOLLAR

988,465.97

988,465.97

0

1674657.14

UNITED STATES DOLLAR

1,674,657.14

1,674,657.14

0

0

CANADIAN DOLLAR

2,908,416.17

2,900,000.00

8416.17

0

UNITED STATES DOLLAR

(2,900,000.00)

(2,900,000.00)

0

0

UNITED STATES DOLLAR

(385,425.00)

(385,425.00)

0

0

MEXICAN PESO

14,179.29

14,228.90

-49.61

0

UNITED STATES DOLLAR

422,866.35

422,866.35

0

Subtotal

9,614,515.29

9,606,148.73

Renta acumulado e impuestos recuperables

46818.48

46818.48

Total

9,661,333.77

9,652,967.21

8,366.56

Unrealized

Market Value

Cost

Gain/Loss

Portfolio Total:

Equities - US Dollar

61,553,288.79

45,662,114.80

16,461,493.49

Equities - Non-US Dollar

72,335,783.57

57,268,442.15

14,497,021.92

Fixed Income - US Dollar

12,772,937.94

12,380,649.61

392,288.33

Fixed Income - Non-US Dollar

43,603,540.76

48,502,534.90

(4,898,994.14)

Venture Capital

16,980,112.87

9,680,880.20

7,299,232.67

Temporary Investments

9,661,333.77

9,652,967.21

8,366.56

Grand Total

216,906,997.70

183,147,588.87

33,759,408.83