exhibit1058.htm


    
      

      

    

    Exhibit 10.58



     

    INVESTMENT
ADVISORY AGREEMENT

    This
INVESTMENT ADVISORY AGREEMENT, dated as of January 4, 2010 is by and between The
Lincoln National Life Insurance Company (the “Client”) and Delaware
Investment Advisers, a series of Delaware Management Business Trust (the “Adviser”).

    W I T N E S S E T
H

    WHEREAS,
the Client desires to engage the Adviser to provide investment advice to the
Client, and the Adviser is willing to undertake these responsibilities, on the
terms and conditions set forth herein.

    NOW,
THEREFORE, in consideration of the conditions and mutual agreements hereinafter
set forth, the parties hereto hereby agree as follows:

    SECTION
1

    APPOINTMENT OF THE
ADVISER

    1.1           Appointment.  The
Client hereby appoints the Adviser, and the Adviser hereby agrees, for the term
of this Agreement to advise the Client with respect to management of the
funds (other than in respect of the Non-Managed Assets ) in all the accounts
comprising the Client's general account (each an "Account") in accordance with
the provisions of this Agreement.  All of Client's Accounts in
existence on the date hereof are identified on Schedule
A hereto,
with the exception of those Accounts that have been excluded with the mutual
agreement of the Client and the Adviser. Schedule
A may be
amended from time to time with the mutual agreement of the Client and the
Adviser.

    1.2           Accounts;
Custodian.  The Client shall designate in writing all of the
assets in each Account, other than the Non-Managed Assets, to be managed by the
Adviser and shall promptly notify its custodian (the “Custodian”) as to the
appointment of the Adviser as investment manager of such assets held at the
Custodian.  The Client has notified the Adviser as to the identity of
the Custodian on or prior to the date hereof, and shall notify the Adviser of
any subsequent changes in the identity of the Custodian.  The Client
shall be responsible for any custodial arrangements and the payment of all
custodial charges, and the Adviser shall have no responsibility or liability
with respect to custodial arrangements or acts or omissions of the
Custodian.  The Client shall direct the Custodian to (i) accept
instructions from the Adviser regarding the execution of transactions in respect
of the Accounts permitted hereby, and to grant access to Agents and, if
applicable, Sub-Advisers and (ii) deliver to the Adviser in a timely manner any
proxies for which the Adviser has the right and obligation to vote pursuant to
Section 2.6. The Adviser shall have no authority to act as a custodian for any
Account, any earnings therefrom or any other securities or other assets from
time to time credited to any Account or to make any withdrawals of any nature
whatsoever from any Account.

    


    
      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    


    1.3           Exclusivity.

    (a)           During
the Initial Term, except with respect to any assets invested in the Excluded
Asset Classes and New Asset Classes that are not managed by the Adviser pursuant
to this Section 1.3, the Adviser will have the exclusive right to manage the
assets in each Account; provided, however, that such
right will not apply to any assets that may be added to such Accounts as a
result of any acquisition (however effected, including a merger) by the Client
of another insurance company or block of business of another insurance company
(“Acquired
Assets”).  Except as provided in this Section 1.3 with respect
to New Asset Classes that are not managed by the Adviser, the Client, during the
Initial Term, shall not engage any other investment manager, investment adviser
or other Person to manage any portion of the Accounts other than Excluded Assets
and Acquired Assets.

    (b)           In
the event that the Client determines to invest any portion of an Account (other
than Excluded Assets or Acquired Assets) in an asset class that the Client
reasonably determines in good faith is not a Current Asset Class (a “New Asset Class”),
the Client shall provide an Investment Notice to the Adviser as soon as
practicable following the Client’s determination to invest in the New Asset
Class, such Investment Notice to describe, in reasonable detail, the New Asset
Class.

    (c)           The
Adviser shall have 45 days from the receipt of an Investment Notice to make a
written proposal (an “Adviser Proposal”) to
the Client to manage the applicable New Asset Class, which proposal shall set
forth the objectives, fees and identities of the investment management
professionals who will manage the applicable New Asset Class and such other
information as may be reasonably requested by the Client in order to assist the
Client in its evaluation of the Adviser Proposal.  During such period
and for a period of 15 days after the submission of the Adviser Proposal (the
“Evaluation
Period”), the Client and the Adviser shall discuss the applicable Adviser
Proposal in good faith (including at least one in person meeting if requested by
the Adviser) and, during the applicable Evaluation Period, the Adviser shall
have, at its option, the opportunity to make a presentation to the investment
committee of the Client in furtherance of its Adviser Proposal.  No
later than 30 days after the end of the applicable Evaluation Period, the Client
shall deliver a written notice to the Adviser indicating whether it accepts or
does not accept such Adviser Proposal, such written notice to set forth, in the
case of a non-acceptance, the primary basis for such
non-acceptance.  For the avoidance of doubt, nothing in this Section
1.3 shall restrict the ability of the Client to retain investment consultants or
other Persons during the Evaluation Period (or thereafter) to evaluate an
Adviser Proposal or any other proposal from another investment
manager.

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          2

          
            

          

        

        
           


        

      

    

    


    


    (d)           In
the event that the Client accepts an Adviser Proposal or appoints the Adviser to
manage a New Asset Class pursuant to Section 1.3(e), (x) the New Asset Class
shall be considered a Current Asset Class and Schedule
B shall be updated to reflect such new Current Asset Class and the
applicable fee rate and (y) and the assets invested in such new Current Asset
Class will be included for purposes of calculating Management Fees.

    (e)           In
the event that the Client, in the exercise of its reasonable judgment and
consistent with its fiduciary duties, does not accept an Adviser Proposal, the
Client shall have the right to engage other Persons to manage the assets to be
invested in the New Asset Class (which, for the avoidance of doubt, may be the
Adviser if so determined by the Client after its evaluation of other managers
pursuant to this Section 1.3(e)); provided that, as
part of the foregoing determination by the Client, such other Persons shall have
been determined to have demonstrated experience managing assets in the New Asset
Class and the terms of the engagement with such Persons shall be more favorable
to the Client, taken as a whole, than the terms of the Adviser Proposal, taken
as a whole.  If a Person other than the Adviser is appointed to manage
a New Asset Class, the assets attributable to such New Asset Class shall not be
covered by this Section 1.3 for so long as such assets are invested in such New
Asset Class (or an Excluded Asset Class thereafter).  In the event
that the Client determines to replace an investment manager that manages a New
Asset Class (other than in connection with the determination to invest in an
Excluded Asset Class), the provisions of this Section 1.3 shall apply with
respect to the process to appoint a replacement manager to manage the assets in
such New Asset Class.  Anytime after the Client has selected a Person
(other than the Adviser) to manage a New Asset Class, the Client agrees to
consider in good faith any future proposals from the Adviser to manage the
assets in such New Asset Class in the event that the Adviser believes that it
has the necessary capabilities to manage such assets.

    SECTION
2

    AUTHORITY AND DUTIES OF THE
ADVISER; CERTAIN OTHER MATTERS

    2.1           General Authority of
Adviser.  Subject to the provisions of this Agreement
(including Section 2.2), the Client grants to the Adviser the sole discretion
and authority to make all investment decisions with respect to the assets
designated pursuant to Section 1.2.

    2.2           Investment Objectives and
Restrictions.

    (a)           In
performing its duties and exercising its discretion under this Agreement, the
Adviser shall act in good faith and exercise all the due skill, care and
diligence that would be expected of a professional investment
manager.  The Adviser shall manage each Account in accordance with the
written

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          3

          
            

          

        

        
           


        

      

    

    


    investment
objectives, restrictions and policies (the “Investment Policies”)
provided to the Adviser by the Client from time to time.  Any
restrictions on the management of the Accounts imposed by any applicable rule,
regulation or law that the Client requests the Adviser to follow shall be
reflected in the Investment Policies.  To the extent practicable, the
Client shall notify the Adviser in advance of any changes to the Investment
Policies.  The Client agrees to discuss in good faith with the Adviser
mutually agreeable solutions with respect to any Investment Policies that the
Adviser cannot satisfy.

    (b)           The
Adviser shall perform trading activities, including derivatives transactions, on
behalf of the Client to the extent necessary in connection with the Lincoln
Financial Group variable annuity hedging program and fixed index annuity hedging
program, each as may be in effect from time to time.  The performance
of the trading activities with respect to the variable annuity hedging program
shall comply with the Trade Positioning System guidelines provided to the
Adviser by the Client from time to time; provided that after
prior consultation with the Client to the extent practicable (and in the case of
a material variance from such guidelines, in all cases), trade execution may be
effected outside of such guidelines if determined by the Adviser in its
reasonable judgment to be in the best interests of the Client.  With
respect to the fixed indexed annuity hedging program, the Adviser shall comply
with the guidelines/directives provided to the Adviser by the Client from time
to time.

    (c)           The
Adviser may, but has no obligation to, select and, with the prior written
consent of the Client, contract with one or more investment advisers (each, a
“Sub-Adviser”)
registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), to
perform some or all of the services for an Account for which it is responsible
under this Agreement.  The Adviser may, if it
determines it is not adverse to the interests of the Client, without the consent
of the Client, terminate the services of any Sub-Adviser at any time, and shall
at such time assume the responsibilities of such Sub-Adviser unless and until a
successor Sub-Adviser is selected.  The Adviser shall continue to have
responsibility for all advisory services furnished by any Sub-Adviser and for
the payment of any such Sub-Adviser.

    2.3           Further Authority of
Adviser.  Subject to the other provisions of this Agreement,
unless the Client instructs the Adviser otherwise, the Adviser shall have the
authority to select the brokerage firms through which orders for an Account
shall be placed.  The Adviser shall place orders for the execution of
transactions for an Account on a “best execution” basis, taking into account all
relevant factors, including price, commission rates, reliability, efficiency of
execution and timeliness and quality of the provision of market
information.  Notwithstanding the foregoing, to the extent authorized
by applicable law (including Section 28(e) of the Securities Exchange Act of
1934, as amended) and consistent with the “soft dollar” practices described in
Part II of the Adviser’s Form ADV, the Adviser may agree to pay a member of an
exchange, a broker or a dealer a commission for effecting a securities
transaction in an Account that exceeds

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          4

          
            

          

        

        
           


        

      

    

    


    the
commission another member of an exchange, broker or dealer would charge for
effecting the transaction if the Adviser determines in good faith that such
commission is reasonable in relation to the value of the brokerage and research
services provided by such member, broker or dealer, viewed in terms either of
that particular transaction or of the Adviser’s overall responsibilities with
respect to the applicable Account and other advisory accounts for which the
Adviser or any Sub-Adviser exercises investment discretion.  If the
Adviser engages in any transaction described in the immediately preceding
sentence, the Adviser shall provide to the Client regular reports in such form
and at such times as may reasonably be required by the Client, setting forth the
amount of total brokerage business placed by the Adviser with respect to the
Accounts and the allocation thereof among brokers and dealers, identifying those
brokers and dealers which provided research services, and containing such other
information as the Client may reasonably request.  In the event that
the Client instructs the Adviser to place orders for an Account through a
particular brokerage firm (a “Directed Broker”),
the Client hereby acknowledges that the Adviser may not achieve “best execution”
and waives any applicable “best execution” requirements with respect to
transactions with such Directed Broker.

    2.4           Reporting and Information
Obligations.

    (a)           The
Adviser agrees to make available to the Client such reports, information and
certifications with respect to the Accounts as the Client may from time to time
reasonably request, including reports detailing the holdings in the Accounts and
any transactions effected by the Adviser with respect thereto and information
concerning the sale or other disposition of securities during the period covered
by such reports.  Initially, the reports to be provided are as
identified on Schedule
C hereto.  The Adviser shall, upon reasonable notice at the
reasonable request of the Client, participate by telephone or in-person at
meetings (including meetings of the investment committees of the Client and its
Affiliates and meetings with, and presentations to, rating agencies, investors
and research analysts) to review the performance of the Accounts and other
matters related to the management of the Accounts (including the investment
objectives, restrictions and policies).

    (b)           The
Adviser shall provide the Client with such data and other information related to
any Account, any investment in any Account and/or the services provided by the
Adviser hereunder, including such data and information described in Schedule
D, electronically in such form described in Schedule
D or as otherwise may be reasonably requested by the Client.

    (c)           The
Adviser shall, and shall cause its Affiliates to, cooperate with the Client and
its representatives to the extent necessary to enable such Persons to verify all
calculations made by the Adviser in connection with any Account.

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          5

          
            

          

        

        
           


        

      

    

    


    


    2.5           Allocations.  The
Adviser may, but is not required to, aggregate sales and purchase orders placed
with respect to an Account with similar orders for brokerage transactions being
made simultaneously for other accounts managed by the Adviser to the extent
permitted by applicable law.  When such aggregate orders occur, the
objective of the Adviser (and any of its Affiliates involved in such
transactions) shall be to allocate the costs incurred in connection with the
execution of such orders among the applicable Account and the other accounts
managed by the Adviser in a manner the Adviser believes is fair and equitable
over time to the applicable Account and in accordance with the Adviser’s written
allocation procedures as then in effect, taking into account the Client’s
investment guidelines and the size of the order placed for the Client, among
other factors.  The Adviser shall provide the Client with a copy of
its written allocation policies applicable to the Accounts and a copy of any
subsequent amendments to such policies, provided that the
Adviser shall not be obligated to provide copies of any such amendments if they
are summarized in Part II of the Adviser’s Form ADV.

    2.6           Proxies and Other
Actions.

    (a)           The
Client delegates to the Adviser the right and obligation to (i) vote any proxies
in respect of securities held in any Account and (ii) act upon or exercise any
option, subscription, bankruptcy, reorganization, consolidation, merger,
indenture revision or liquidation right or any other right or privilege of
whatsoever nature, incident, appurtenant or pertaining to securities in any
Account and, upon prior written notice or notice by telephone from the Adviser
to the Client of the Adviser’s intention to participate in such matters, the
Adviser shall automatically and without further action by the Client be
appointed as the Client’s attorney-in-fact for any such purpose, including
causing the Client to be bound to any such plan, agreement or
arrangement.  Notwithstanding the foregoing, the Client may designate
another Person to exercise any such right or obligation upon written notice to
the Adviser.

    (b)           In
the case of any action  to be taken in respect of securities held in
any Account (other than private placements) where such action requires the
payment of any funds by the Client in connection with such action, the Adviser
agrees to consult with and assist the Client in the evaluation of such action
and the recommended course of action in respect thereof and, upon payment or
advancement (or the agreement to pay or advance) by the Client of any funds
required to be paid to a third party in connection with such action, follow the
reasonable and lawful instructions of the Client in the taking or not taking of
such action.

    2.7           Compliance.  The
Adviser represents that it is duly registered with the Securities and Exchange
Commission (the “SEC”) pursuant to the
Advisers Act.  The Adviser shall at all times act in accordance with
(a) this Agreement and (b) any provision of applicable law, including the
Advisers Act and all applicable rules and regulations of

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          6

          
            

          

        

        
           


        

      

    

    


    the SEC
promulgated thereunder, including by maintaining all necessary licenses, permits
and other authorizations from the SEC and any other Regulatory
Authority.

    2.8           Certain
Notifications.

    (a)           The
Adviser shall notify the Client promptly upon becoming aware of (i) any changes
or events that could reasonably be expected to materially and adversely affect
an Account or the Adviser’s management of an Account, including the
following:  any audit, investigation, action or other proceeding by
any Regulatory Authority involving the Adviser or an Account of which the
Adviser or one of its Affiliates has received written notification from such
Regulatory Authority, other than routine inspections and examinations, or any
termination of any Approved Manager and (ii) any financial condition of or
significant corporate event involving the Adviser that would reasonably be
expected to impair its ability to meet contractual commitments to the Client
under this Agreement.  Changes or events not specific to the Adviser
or its Affiliates, including  general economic conditions or changes
in the market environment do not require notification under this Section
2.8(a).

    (b)           The
Adviser shall furnish the Client promptly with copies of any amendments or
supplements to the Adviser's Form ADV.  The Client, upon reasonable
request with reasonable notice, may review any other filings, reviews, reports
or notices submitted (or received) by the Adviser or one of its investment
advisory Affiliates to (or from) the SEC or any other Regulatory Authority,
other than such filings, reviews, reports or notices which do not contain
information which could reasonably be viewed as material by the Client, at the
offices of the Adviser.

    (c)           The
Adviser shall promptly notify the Client of the occurrence of any Termination
Event.

    (d)           The
Client represents that none of the Accounts is currently subject to
ERISA.  The Client shall notify the Adviser in writing in advance of
any assets of an Account becoming “plan assets” under ERISA if practicable, and
if such advance notice is not practicable, the Client shall notify the Adviser
in writing promptly after the Client becomes aware of any assets of an Account
becoming “plan assets” under ERISA and, in either case, will assist the Adviser
in obtaining all information necessary to comply with ERISA.

    2.9           Adviser as Independent
Contractor.  Notwithstanding the services provided by the
Adviser hereunder, the Adviser shall be an independent contractor and not a
partner of or joint venturer with the Client, and unless otherwise expressly
provided herein, shall not be authorized to manage the affairs of, act in the
name of, or represent or bind the Client.

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          7

          
            

          

        

        
           


        

      

    

    


    


    2.10           Insurance.  The
Adviser shall maintain in full force and effect during the term of this
Agreement errors and omissions liability coverage of not less than $50,000,000
and on other material terms and conditions that are usual and customary for
asset management businesses similarly situated to the Adviser.  Upon
the reasonable request of the Client (to be made no more than once every 12
months) or in the event that the assets of the Accounts have increased
materially after the date hereof (which request may be made more than one time
over the term of this Agreement), the Adviser shall increase such coverage
limits to such amounts as are reasonably requested by the Client to reflect the
increase in the assets in the Accounts.  The Adviser shall provide the
Client with a certificate evidencing the existence of such insurance upon the
request of the Client (to be made no more than once every 12
months).  The Adviser shall provide prior written notice to the Client
in the event that the Adviser proposes to amend or modify any material term or
condition of such insurance that could reasonably be expected to be adverse to
the Client.

    2.11           Management
Team

    (a)           Schedule
E hereto sets forth the names of certain investment professionals
employed by the Adviser on a full-time basis and who manage the Accounts (each,
and together with any other investment professional approved by the Client
pursuant to Section 2.11(a) or (b), an “Approved
Manager”).  In the event that an Approved Manager ceases to be
employed by the Adviser on a full-time basis or otherwise ceases to manage the
Accounts (a “Departing
Manager”), the Adviser shall nominate in writing, for approval by the
Client, one or more investment professionals with demonstrated experience
managing assets of a type and style similar to the Account (or portion thereof)
to be managed by such professionals (each such investment professional, a “Manager Candidate”)
to replace such Departing Manager as an Approved Manager.  In
connection with the Client’s evaluation of each such Manager Candidate, during
the 30 day period following delivery of the applicable written nomination
notice, the Adviser shall provide such information relating to each Manager
Candidate (including the date on which such Manager Candidate is able to
commence full-time employment with the Adviser) as is reasonably requested by
the Client and the Client shall have the opportunity to interview each Manager
Candidate.  On or prior to the last day of such 30 day period, the
Client shall provide written notice to the Adviser of its decision to approve or
disapprove the appointment of such Manager Candidate.  The Client
agrees that its approval or disapproval of a Manager Candidate (x) shall be
based on the foregoing information and, if applicable, the interview and such
other criteria as would generally be used by a third party investment consultant
in a similar manager search and (y) shall not be unreasonably withheld or
delayed (and the Client shall not be deemed to be acting unreasonable if a
Manager Candidate is not able to commence full-time employment with the Adviser
within 60 days of the

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          8

          
            

          

        

        
           


        

      

    

    


    expiration
of the 90 day period referred to clause (b) in the definition of Termination
Event).

    (b)           In
addition to the Adviser’s right to propose one or more Manager Candidates
pursuant to Section 2.11(a), the Adviser may, no more frequently than once every
three months, propose one or more Manager Candidates, who for purposes of this
Section 2.11(b) must have been employed by the Adviser for no less than six
consecutive months and shall have managed one or more Accounts during such six
month period, to become additional Approved Managers by delivery of a written
notice to the Client.  In connection with the Client’s evaluation of
each such Manager Candidate, the Adviser shall provide such information relating
to each Manager Candidate as is reasonably requested by the Client and the
Client shall have the opportunity to interview each Manager
Candidate.  The Client agrees that its approval or disapproval of any
such Manager Candidate (x) shall be based on the foregoing information and, if
applicable, the interview and such other criteria as would generally be used by
a third party investment consultant in a similar manager search and (y) shall
not be unreasonably withheld or delayed.

    (c)           In
the event that the Client approves any Manager Candidate and such Manager
Candidate becomes an Approved Manager pursuant to Section 2.11(a) or (b), Schedule E
shall be updated to reflect such new Approved Manager.

    2.12           Cooperation between the
Parties regarding Private Placements. The parties agree that to the
extent either party requires access to information  (including
books and records) or personnel relating to private placements, such access
shall be provided consistent with practices in place prior to the date of
this Agreement.  The Client agrees to provide resources that will
provide the Client's internal legal support for the private placements in which
the Accounts may invest from time to time consistent with practices in place
prior to the date of this Agreement.

    SECTION
3

    CONFLICTS OF
INTEREST

    3.1           Devotion of Time;
Non-Exclusive.  The Adviser hereby agrees to devote such of its
time and activity as is necessary for the accomplishment of its duties
hereunder.  The Client acknowledges and understands that the Adviser
acts as investment adviser to other clients and may give advice and take action
with respect to the assets of such other clients which may differ from the
advice given, or the timing or nature of action taken, with respect to the
Accounts.  Subject to applicable law, nothing herein shall restrict
the Adviser, its principals, Affiliates, or employees from purchasing or selling
any securities for its or their own accounts.  Furthermore, the
Adviser shall have no obligation to purchase or sell for any Account, or to
recommend for purchase or sale for any Account, any security which the Adviser,
its principals, Affiliates or employees may purchase or sell for themselves or
for any other clients.

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          9

          
            

          

        

        
           


        

      

    

    


    


    SECTION
4

    EXPENSES; FEE; VALUATION;
STANDARD OF LIABILITY

    4.1           Expenses.  The
Client shall pay for all custodial fees, brokerage commissions, taxes, interest
and other expenses related to the purchase, sale or transmittal of Account
assets and such other expenses related to the Accounts to the extent that such
expenses have been borne directly by the Client pursuant to the past practice of
the Adviser and the Client prior to the date hereof.  Only expenses
incurred by the Adviser in its fulfillment of its duties and obligations
hereunder, including such expenses related to the Accounts to the extent that
such expenses have been borne by the Adviser pursuant to the past practice of
the Adviser and Client prior to the date hereof, shall be borne by the Adviser;
provided that
the Adviser shall have no obligation to bear any expenses for services provided
to the Client, prior to the date hereof, by resources of the Adviser that were
transferred to the Client on or prior to the date hereof.  Amounts
payable to the Adviser under this Section 4.1 shall be paid by the Client upon
submission of detailed invoices by the Adviser to the Client.

    4.2           Management
Fee.  The Client shall pay the Adviser a fee (the “Management Fee”) for
the services to be rendered hereunder.  The Management Fee payable
with respect to each Account will be calculated at the end of each month based
upon the prior month-end book value of the assets (as designated pursuant to
Section 1.2) in such Account at the annual rate of 0.09%, inclusive of
derivatives trading and support, subject to Section 1.3(d).  The
Adviser shall calculate the Management Fee for each calendar month in accordance
with this Agreement and shall provide the Client an invoice reflecting the
amount of such Management Fee for each such calendar month, and the calculations
and methodology used to calculate such Management Fee.  The Management
Fee shall be payable monthly within 10 business days of receipt of
invoice.  For purposes of calculating the Management Fee, the portion
of any Account consisting of Non-Managed Assets shall be excluded.  In
the event there is a material change in the allocation (as of the date hereof)
of assets in the Accounts across asset classes (a “Reallocation”) that
persists for at least six months, the Client and the Adviser will negotiate, in
good faith, mutually agreeable modifications to the Management Fees to reflect
such change; provided that if a
Reallocation persists for three months, the Client and the Adviser agree to
discuss, in good faith, such Reallocation and any issues, concerns, questions or
other matters related thereto.

    4.3           Valuation.  The
Client shall be responsible for determining the value of each security or other
asset in each Account at the times required under this Agreement, provided that, in
connection therewith, the Adviser agrees to provide such assistance and
cooperation to the Client in determining the value of securities as is
reasonably requested by the Client, including, without limitation, obtaining
broker quotes for securities and providing inputs to Client to assist it in
its pricing of private placements.  The value of each private
placement debt security for which pricing is not readily available and that was
held in the Accounts on November 30, 2009 is set forth on

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          10

          
            

          

        

        
           


        

      

    

    


    Schedule
F.  The parties agree that updated values for each private placement
debt security for which pricing is not readily available held in the Accounts as
of December 31, 2009 will be provided as soon as possible, and such values shall
replace those on Schedule
F once available.

    4.4           Standard of
Liability.  Neither the Adviser nor any of its officers,
directors, shareholders, members, partners, Agents, employees and Affiliates
shall be liable for any Loss (including any decrease in the value of assets) (i)
incurred with respect to the management of any Account pursuant to Sections
2.2(a) or (b), other than any Loss arising out of the gross negligence of the
Adviser or (ii) incurred by reason of any act or omission of any bank, broker,
custodian, administrator, trustee or similar Person so long as the Adviser had
followed the reasonable instructions of the Client (if any) and the Adviser was
not grossly negligent in the performance of its obligations in respect to such
Person.  Nothing contained herein shall be deemed to waive any
liability (x) which cannot be waived under applicable state or federal law or
any rules or regulations adopted thereunder, including state and federal
securities laws and ERISA or (y) for breaches by the Adviser of any provision of
this Agreement other than Sections 2.2(a) and (b).

    


    SECTION
5

    TERMINATION

    5.1           Term.  This
Agreement shall continue in full force and effect until the ten year anniversary
of the date hereof (such ten year period, the “Initial Term”),
unless terminated by the Client pursuant to Section 5.2 or the Adviser pursuant
to Section 5.3 (the date that any termination hereunder becomes effective, the
“Termination
Date”).  Absent such termination, this Agreement will
automatically renew for additional one year periods (each, a “Subsequent Term”)
unless, no later than 90 days prior to the expiration of the Initial Term or 30
days prior to the expiration of any Subsequent Term (as applicable), the Client
or the Adviser provides written notice to the other that it elects not to renew
this Agreement.

    5.2           Termination by the
Client.  The Client shall have the right to terminate this
Agreement in its entirety at any time, upon (a) the occurrence of a Termination
Event or (b) 30 days written notice to the Adviser.

    5.3           Termination by the
Adviser. The Adviser may terminate this Agreement in its
entirety  (a) upon a material breach of this Agreement by the Client
(including a breach of Section 4.2) that (if curable) has not been cured by the
Client within 10 business days of the Adviser providing written notice to the
Client of such breach, unless the Adviser agrees in writing to extend such cure
period; or (b) on not less than 150 days written notice to the
Client.

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          11

          
            

          

        

        
           


        

      

    

    


    


    5.4           Consequences of
Termination.  In connection with the termination of this
Agreement for any reason, (a) the Adviser shall be entitled to receive any
unpaid portion of the Management Fee earned through the Termination Date, which
shall be paid in accordance with Section 4.2 and (b) each party to this
Agreement shall promptly destroy or deliver to the other party, or to such other
Person as such other party directs, all Confidential Information in the
possession of or under the control of the Adviser or the Client, as applicable;
provided, however, that the
Adviser or the Client, as applicable, may retain copies of any Confidential
Information to the extent required by applicable law and such party’s then
effective document retention policy.

    5.5           Plan. In the event
that there is a Material Variance pursuant to clause (c)(i) of the definition of
Termination Event (provided that, solely for purposes of this Section 5.5, the
5% referenced therein shall be replaced with 3%), the Adviser shall, no later
than 30 days after the end of the applicable Measurement Quarter, submit a
written plan (a “Plan”) to the Client
that sets forth the material cause(s) of the Material Variance and the steps
that the Adviser proposes to take to address such causes and eliminate the
Material Variance.  The Client agrees to cooperate with the Adviser in
connection with the Adviser’s preparation and (after a Plan is agreed to by the
Client) implementation of a Plan to the extent contemplated thereby, including
by making available its personnel to meet with the Adviser.

    SECTION
6

    MISCELLANEOUS

    6.1           Assignments.  No
assignment (as defined in the Advisers Act) of this Agreement by the Adviser
shall be made without the prior written consent of the Client (which consent
will not be unreasonably withheld in the case of a proposed assignment to a U.S.
domiciled wholly-owned subsidiary of Macquarie Bank Limited that is registered
as an investment adviser under the Advisers Act).  Except as otherwise
expressly provided herein, the provisions hereof shall inure to the benefit of,
and be binding upon, the successors and permitted assigns of the parties hereto
(including binding any successor or assignee of the Client following a change of
control of the Client, Lincoln National Corporation or any of its Affiliates who
directly or indirectly own or control the Client).  Notwithstanding
the foregoing, the Adviser may outsource certain ancillary support services that
do not constitute investment management services, including trading,
back-office, proxy voting and accounting services, to its Agents, provided that the
Adviser shall continue to have responsibility for all services provided by its
Agents and for the payment of such Agents.  For the avoidance of
doubt, the engagement by the Adviser of a Sub-Adviser pursuant to Section 2.2(c)
shall not be deemed an assignment.  No assignment of this Agreement by
the Client shall be made without the prior written consent of the Adviser (such
consent not to be unreasonably withheld).

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          12

          
            

          

        

        
           


        

      

    

    


    


    6.2           Notices.  For
purposes of this Agreement, all notices or other communications given or made
hereunder shall be in writing and shall be given or made to the Client at
Lincoln Financial Group, General Account Investment Strategies, 100 North Greene
Street, Greensboro, NC 27401, Attention: C. Phillip Elam II, Senior Vice
President, with a copy to: Lincoln Financial Group, Radnor Financial Center, 150
North Radnor Chester Road, Radnor, PA 19087, Attention: General Counsel, and to
the Adviser at Delaware Investment Advisers, 2005 Market Street, 39th Floor,
Philadelphia, PA 19103, Attention:  See Yeng Quek, with a copy to:
Delaware Investment Advisers, 2005 Market Street, Philadelphia, PA 19103,
Attention:  General Counsel, or at such other place or places as shall
from time-to-time be specified in a written communication signed by the party
that is seeking to change its address for the receipt of notices and that is
delivered to the other party.  Any notice in writing shall be deemed
given and received (a) if delivered in person, on the date delivered, (b) if
transmitted by telecopy (provided receipt is confirmed by telephone), on the
date sent or (c) if delivered by express courier, on the second Business Day
after mailing, to the parties at the addresses set forth above.

    6.3           Amendments.  No
modification, amendment or waiver of this Agreement, or any part hereof
(including any defined term used herein), shall be valid or effective unless in
writing and signed by the party or parties sought to be charged
therewith.  No waiver of any breach or condition of this Agreement
shall be deemed to be a waiver of any subsequent or other breach or condition,
whether of like or different nature.  The failure of any party hereto
to insist upon strict adherence to any term of this Agreement on any occasion
shall not be considered a waiver thereof and shall not deprive such party of the
right thereafter to insist upon strict adherence to that term or any other term
of this Agreement.

    6.4           Books and
Records.  The Adviser shall keep (or cause to be kept) such
books and records as are required by the Advisers Act, shall permit the Client
and its representatives to inspect such books and records with respect to the
Accounts at all reasonable times and to make copies of any such books and
records as any of them may reasonably request, and shall promptly provide them
with such information and explanations as they may reasonably require in
connection therewith.  In furtherance thereof, the Adviser shall (i)
make its books and records available to, and provide such information related to
this Agreement and the services contemplated hereby reasonably requested by, the
Client and its representatives for audit and compliance review promptly upon
request and (ii) in the event that the Client receives a request from a
Regulatory Authority for information or records in the possession of the Adviser
related to any Account, upon notice of such request, provide reasonable access
(including to officials of any such agency) to such information or
records.  Notwithstanding the foregoing, (w) any access or cooperation
pursuant to this Section 6.4 shall not unreasonably interfere with the conduct
of the business of the Adviser, (x) such access or review shall occur only
during normal business hours upon reasonable advance notice by the Client to the
Adviser, under the supervision of personnel of the Adviser, (y) such access or
review shall occur only after the Client shall have (1) entered into a customary
and reasonable

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          13

          
            

          

        

        
           


        

      

    

    


    non-disclosure
agreement with the Adviser and (2) identified, in reasonable detail, its purpose
in seeking access or cooperation pursuant to this Section 6.4 and such purpose
is commercially reasonable and (z) the Client shall be responsible for any
out-of-pocket costs and expenses incurred by the Adviser and its Affiliates in
connection with its compliance with this Section 6.4.  Notwithstanding
the obligations contained in this Section 6.4, the Adviser shall not be required
to provide access or information or to disclose information where such access or
disclosure would jeopardize the attorney-client privilege of it or its
Affiliates (based on the advice of counsel) or contravene any applicable law or
fiduciary duty or breach a binding agreement in effect on the date
hereof.

    6.5           Confidentiality.  Unless
directed by the other party and except as required by applicable law, each party
to this Agreement shall keep confidential any and all Confidential Information
and shall not disclose any such information to any Person (other than its
attorneys, regulatory authorities and its Affiliates who need to know such
information in connection with the provision of services under this Agreement
and on behalf of whom the Adviser shall be liable under this
Agreement).  Notwithstanding the foregoing, the Adviser may (i)
provide information as necessary for broker/dealers, Agents and Sub-Advisers
perform their duties for the Adviser on behalf of the Client; (ii) include the
Client’s name on the Adviser’s client list to be circulated to external parties;
and (iii) include the Account’s performance in the Adviser’s
composites.  Except as described in the foregoing sentence of this
Section 6.5, the Adviser shall in no event distribute or circulate any sales
material, promotional or other material or make any public communications or
press releases which contains any reference to the Client or any Account without
the prior written consent of the Client.

    6.6           Entire
Agreement.  This Agreement (including any annex or schedule
hereto and the Investment Policies) contains the entire understanding of the
parties and supersedes any prior agreements and understandings between the
parties with respect to the subject matter hereof or thereof.

    6.7           Required
Bonds.  The Client agrees to obtain and maintain during the
effectiveness of this Agreement such bonds as may be required by Section 412 of
ERISA, if applicable, and to include the Adviser among those covered by such
bonds.

    6.8           Severability.  In
case any one or more of the provisions of this Agreement or any portion thereof,
or the application of any such provision or any portion thereof to any party,
shall be held invalid, illegal or unenforceable, the remaining portion of such
provision and the remaining provisions of this Agreement, or the application of
such provision as is held invalid, illegal or unenforceable to persons or
circumstances other than those as to which it is held invalid, illegal or
unenforceable, shall not be affected thereby.

    6.9           Captions.  Captions
contained in this Agreement are inserted only as a matter of convenience and in
no way define, limit, extend or otherwise affect the scope or intent of this
Agreement or any provision hereof.

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          14

          
            

          

        

        
           


        

      

    

    


    


    6.10           Counterparts.  This
Agreement may be executed in one or more counterparts each of which, for all
purposes, shall be deemed to be an original, and all of which when taken
together shall constitute but one and the same instrument.

    6.11           Governing Law; Submission to
Jurisdiction.  This Agreement shall be governed and construed
in accordance with the laws of the State of New York, without regard to the
conflict of law provisions thereof that would result in the application of the
laws of any other jurisdiction.  However, nothing in this Agreement
shall be construed contrary to the Advisers Act, ERISA (if any Account is
subject to ERISA) or any rule or order of the SEC under the Advisers
Act.  The parties hereto irrevocably and unconditionally consent to
submit to the exclusive jurisdiction of the Supreme Court of the State of New
York, New York County and of the federal court located in New York, New York for
any actions, suits or proceedings arising out of or relating to this Agreement
or the transactions contemplated hereby (and the parties agree not to commence
any action, suit or proceeding relating thereto except in such
courts).  The parties hereby irrevocably and unconditionally waive any
objection to the laying of venue of any action, suit or proceeding arising out
of this Agreement or the transactions contemplated hereby in the Supreme Court
of the State of New York, New York County and the federal court located in New
York, New York, and hereby further irrevocably and unconditionally waive and
agree not to plead or claim in any such court that any such action, suit or
proceeding brought in any such court has been brought in an inconvenient
forum.  The parties agree that a final judgment in any such action,
suit or proceeding brought in any such court shall be conclusive and binding and
may be enforced in any other courts to whose jurisdiction the parties are or may
be subject, by suit upon such judgment.

    6.12           WAIVER OF JURY
TRIAL.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

    6.13           Form
ADV.  The Client acknowledges that it has received Part II of
the current Form ADV of the Adviser at least 48 hours before entering into this
Agreement.

    6.14           Binding Effect; Persons
Benefiting.  Other than the parties to this Agreement, no
Person shall have any right or obligation under this Agreement.  No
provision of this Agreement is intended or shall be construed to confer upon any
entity or Person other than the parties and their respective successors and
permitted assigns any right, remedy or claim under or by reason of this
Agreement or any part hereof.

    6.15           Interpretation.  When
a reference is made in this Agreement to Sections, Schedules or Annexes, such
reference shall be to a Section of, Schedule to or Annex to, this Agreement
unless otherwise indicated.  Whenever the words
“include,”

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          15

          
            

          

        

        
           


        

      

    

    


    “includes”
or “including” are used in this Agreement, they shall be deemed to be followed
by the words “without limitation.”  All pronouns and any variations
thereof refer to the masculine, feminine or neuter, single or plural, as the
context may require.  All capitalized terms defined in this Agreement
shall be equally applicable to the singular and plural forms
thereof.  All references to any period of days shall be deemed to be
to the relevant number of calendar days unless otherwise
specified.  The parties hereto have participated jointly in the
negotiation and drafting of this Agreement.  In the event any
ambiguity or question of intent or interpretation arises, this Agreement shall
be construed as if drafted jointly by all parties hereto, and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provision of this Agreement.  References to any
Person include the successors and assigns of that Person.

     

    [Signature
Page Follows]

    


    
      
        
          
             

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            


          

           


        

        
          16

          
            

          

        

        
           


        

      

    

    


    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.

    


    DELAWARE
INVESTMENT ADVISERS,

    a series
of Delaware Management Business Trust

    


    


    By: /s/ David P.
O’Connor

    Name:  David P.
O’Connor

    Title:  Senior Vice
President

    


    


    THE
LINCOLN NATIONAL LIFE INSURANCE COMPANY

    


    


    By: /s/ Keith
Ryan

    Name:  Keith
Ryan

    Title: Vice President

    


    
      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    ANNEX
A

    Defined
Terms

    


    “Account” has the
meaning set forth in Section 1.1.

    “Acquired Assets” has
the meaning set forth in Section 1.3(a).

    “Adviser” has the
meaning set forth in the preamble to this Agreement.

    “Advisers Act” has the
meaning set forth in Section 2.2(c).

    “Adviser Proposal” has
the meaning set forth in Section 1.3(c).

    “Affiliate” means any
individual, partnership, corporation, entity or other Person that directly, or
indirectly through one or more intermediaries, controls, is controlled by, or is
under common control with, the Person specified.  For purposes of this
definition, “control” (including, with correlative meaning, the terms
“controlling” and “controlled”) means the possession, directly or indirectly, of
the power to direct or cause the direction of the management and policies of
such Person, whether through ownership of voting securities, by contract or
otherwise.

    “Agents” means the
Adviser’s proxy voting service and its investment accountant.

    “Agreement” means,
this Investment Advisory Agreement, as the same may be amended, restated,
supplemented or otherwise modified from time to time.

    “Approved Manager” has
the meaning set forth in Section 2.11(a).

    “Client” has the
meaning set forth in the preamble to this Agreement.

    “Confidential
Information” means and includes, but not be limited to, each party’s
respective proprietary or confidential market and/or computerized investment
approaches, trading systems or programs, mathematical models, simulated results,
simulation software, price or research databases, information relating to
private placements, other research, algorithms, numerical techniques, analytical
results, technical data, strategies and methodologies, business methods, trade
secrets, internal marketing materials or memoranda, corporate policies,
supervisory and risk control techniques and procedures, fee and compensation
structures, trader trial programs, investor and contact lists, knowledge of
facilities and any books and records made available to either party and any
other proprietary materials or information; provided, however, that the
term Confidential Information shall not include any such information which is or
has been made generally available to the public through the disclosure thereof
in a manner which was authorized by the applicable party and did not violate any
common law or contractual rights of the applicable party.

    “Custodian” has the
meaning set forth in Section 1.2.

    


    
      
        
          
            A-1

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    


    “Current Asset Class”
means an asset class listed on Schedule
B.

    “Departing Manager”
has the meaning set forth in Section 2.11(a).

    “Directed Broker” has
the meaning set forth in Section 2.3.

    “ERISA” means the Employee Retirement
Income Security Act of 1974, as amended, and the rules, regulations and class
exemptions of the Department of Labor thereunder.

    “Evaluation Period”
has the meaning set forth in Section 1.3(c).

    “Excluded Assets”
means assets in the Accounts invested (i) as seed capital in investment products
of the Client or its Affiliates and the Adviser and its Affiliates or (ii) in
Excluded Asset Classes.

    “Excluded Asset
Classes” means cash (other than direct short-term investments), money
market mutual funds invested primarily in United States securities and assets,
direct United States real estate investments, real estate limited partnerships
investing primarily in United States real estate, direct United States
commercial mortgage investments and corporate owned life insurance.

    “Initial Term” has the
meaning set forth in Section 5.1.

    “Investment Notice”
means a written notice of the Client’s decision to invest any portion of an
Account (other than the Excluded Assets or the Acquired Assets) in a New Asset
Class.

    “Investment Policies”
has the meaning set forth in Section 2.2(a).

    “Loss” means losses,
damages, liabilities, judgments, costs and expenses (including reasonable
attorneys’ fees and disbursements) and amounts paid in settlement.

    “Management Fee” has
the meaning set forth in Section 4.2.

    “Manager Candidate”
has the meaning set forth in Section 2.11(a).

    “Material Variance”
shall mean, with respect to any rolling two year period, a negative variance of
more than 5% per annum of the annual rate of return of the Accounts measured
against the Risk Management Benchmark for that same period.  The
parties agree that (a) for purposes of calculating the annual rate of return for
the one year period ending as of the calendar quarter ending immediately prior
to the Closing, such annual rate of return shall be deemed to equal the Risk
Management Benchmark for such period, (b) for the purposes of determining the
annual rate of return for the Accounts and the Risk Management Benchmark, the
annual rate of return and Risk Management Benchmark shall not include any
portion thereof attributable to (i) Excluded Assets, (ii)

    


    
      
        
          
            A-2

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    any
portion of an Account comprised of limited partnerships or (iii) any action
taken or not taken as a result of instructions by, or restrictions and practices
of, the Client; provided, that, for
the purpose of this sub-paragraph (iii), the rate of return applicable to the
class of asset to which any such instruction, restriction or practice applies
shall be deemed to equal the Risk Management Benchmark for the duration of such
exclusion.

    “Measurement Quarter”
has the meaning set forth in the definition of “Termination Event”.

    “New Asset Class” has
the meaning set forth in Section 1.3(b).

    “Non-Managed Assets”
means any Acquired Assets not managed by the Adviser, the Excluded Assets, and
any assets invested in a New Asset Class not managed by the
Adviser.

    “Person” means any
individual, partnership, corporation, company, trust, unincorporated
organization or other entity and any government or agency or political
subdivision thereof.

    “Plan” has the meaning
set forth in Section 5.5.

    “Reallocation” has the
meaning set forth in Section 4.2.

    “Regulatory Authority”
means any regulatory, self-regulatory or other governmental
authority.

    “Risk Management
Benchmark” shall mean the risk management benchmark utilized in the
Lincoln Financial Group Investment Review process for the Accounts as quarterly
re-weighted and which shall be consistent with the past practice of the Client
as of the date hereof, with any variance from such risk management benchmark
determined in accordance with the methodology employed in the Lincoln Financial
Group Investment Review process as of the date hereof, excluding the variance,
if any, attributable to the Accounts’ Investment Policies.

    


    “SEC” has the meaning
set forth in Section 2.7.

    “Sub-Adviser” has the
meaning set forth in Section 2.2(c).

    “Subsequent Term” has
the meaning set forth in Section 5.1.

    “Termination Date” has
the meaning set forth in Section 5.1.

    “Termination Event”
means any of:

    
      	
               
      

            	
              (a)

            	
              (i)
      the gross negligence or willful misconduct of the Adviser in managing any
      Account, (ii) a material violation of law by the Adviser with respect to
      the management of any Account or (iii) the imposition of any material
      sanction, restriction or penalty
imposed

            


    

    


    
      
        
          
            A-3

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    by a
Regulatory Authority on the Adviser that the Client determines could reasonably
be expected to have a material and adverse effect on the Adviser’s ability to
manage the Accounts;

    
      	
               
      

            	
              (b)

            	
              for
      a period of 90 consecutive days, the number of Approved Managers managing
      the Accounts is less than a majority of the total number of Approved
      Managers set forth in Schedule
      E; provided that
      the Client may not terminate this Agreement pursuant to this clause (b) if
      the Client has approved pursuant to Section 2.11(a) a sufficient number of
      new Approved Managers so that the number of Approved Managers is a
      majority of the total number of Approved Managers set forth in Schedule
      E;

            


    

    
      	
               
      

            	
              (c)

            	
              (c)
      (i) if, for any calendar quarter ending on or after the one year
      anniversary of the Closing Date, there is a Material Variance of the
      Accounts for any rolling two year period ending at the end of any such
      calendar quarter (any such calendar quarter at the end of which there is a
      Material Variance, a “Measurement
      Quarter”) and (ii) there remains a Material Variance for each two
      year rolling period ending at the end of each of the next four calendar
      quarters following the Measurement Quarter, a decision by the Client’s
      board of directors in the good faith exercise of its fiduciary duties to
      terminate the Agreement because the Client’s interests are better served
      with another investment adviser; or

            


    

    
      	
               
      

            	
              (d)

            	
              the
      Adviser’s material breach of this Agreement (other than breaches of
      Section 2.7 which shall be subject to the standard set forth in clause (a)
      above) that (if curable) has not been cured by the Adviser within 30 days
      of the Client providing written notice, unless the Client agrees in
      writing to extend such cure period.

            


    

    


    
      
        
          
            A-4

            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    Schedule
A

     

    Accounts

    


    
      	
              Company
      Name

            	
              Portfolio

            
	
              The
      Lincoln National Life Insurance Company

            	
              JPF661201

              JPF661203

              JPF661205

              JPL671122

              LNL01001

              LNL01002T

              LNL01003T

              LNL01004

              LNL01009

              LNL01010

              LNL01011

              LNL010122

              LNL01015

              LNL01017

              LNL01020

              LNL01021

              LNL01024

              LNL01027

              LNL01040

              LNL01042

              LNL01046

              LNL01052

              LNL01056

              LNL01057

              LNL01057L

              LNL01062

              LNL01063

              LNL01065

              LNL01066

              LNL01071

              LNL01072

              LNL01073

              LNL01074

              LNL01074T

              LNL01075

              LNL01075T

              LNL01076

              LNL01078

              LNL01079

              LNL010110

              LNL
      01001P

            


    

    


    


    
      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    
      


      
        	
                Company
      Name

              	
                Portfolio

              
	
                 

              	
                
                  SA01002

                SA01002E

              


      

      
 

    

    

      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

     

     

    
 

    Schedule
B

     

    Current Asset
Classes

     

    
      	
               
      

            	
              1.

            	
              Active
      Fixed Income

            


    

    
      	
               
      

            	
              2.

            	
              MBS

            


    

    
      	
               
      

            	
              3.

            	
              ABS

            


    

    
      	
               
      

            	
              4.

            	
              High
      Yield

            


    

    
      	
               
      

            	
              5.

            	
              Government

            


    

    
      	
               
      

            	
              6.

            	
              Direct
      short-term investments

            


    

    
      	
               
      

            	
              7.

            	
              Private
      Debt

            


    

    
      	
               
      

            	
              8.

            	
              Partnerships

            


    

    
      	
               
      

            	
              9.

            	
              Equity

            


    

    
      	
               
      

            	
              10.

            	
              Emerging
      Market Debt

            


    

    


    
      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    Schedule
C

     

    Reports

     

    
      	
              Report
      Name

            	
              Source

            	
              Customer

            	
              Frequency

            	
              Due
      Date

            
	
              Identification
      of Troubled and Watch Securities

            	
              DIA
      Fixed Income

            	
              CAO
      & CFO

            	
              Quarterly

            	
              Prior
      to the Writedown Committee Meeting and Final as of Quarter End Business
      Day 2

            
	
              Paragraph
      Code Reporting

            	
              DIA
      Compliance

            	
              Invest
      Acctg

            	
              Monthly

            	
              Changes
      by the 15th
      of each month

            
	
              Cash
      Flow and Recovery Value Calculations Report

            	
              DIA
      Fixed Income

            	
              Invest
      Acctg

            	
              Quarterly

            	
              Prior
      to the Writedown Committee Meeting and Final as of Quarter End Business
      Day 1

            
	
              CLN
      Reports

            	
              DIA
      Fixed Income

            	
              Invest
      Acctg

            	
              Quarterly

            	
              Business
      Day 5

            
	
              TPS
      Notices

            	
              DIA
      Fixed Income

            	
              EqRM
      Protection

            	
              Daily

            	
              Daily
      p.m.

            
	
              Trade
      Notifications

            	
              DIA
      Fixed Income

            	
              EqRM
      Protection

            	
              Daily

            	
              Daily
      p.m.

            
	
              Spreads
      for Index

            	
              DIA
      Fixed Income

            	
              Portfolio
      Management

            	
              Weekly

            	
              Weekly

            
	
              Econ
      Summary/Inv. Com. Commentary

            	
              DIA
      Fixed Income

            	
              Portfolio
      Management

            	
              Monthly

            	
              Prior
      to Investment Committee

            
	
              Derivative
      Report Summary

            	
              DIA
      Fixed Income

            	
              EqRM/ALM
      Committee

            	
              Monthly

            	
              Prior
      to EqRM/ALM meeting

            
	
              CLN
      one pager(s) for Investment Com.

            	
              DIA
      Fixed Income

            	
              Portfolio
      Management

            	
              Monthly

            	
              Prior
      to each Investment Committee meeting

            
	
              CLN
      Disclosure 10Q

            	
              DIA
      Fixed Income

            	
              Financial
      Reporting

            	
              Quarterly

            	 
      
	
              Industry/Company
      Research

            	
              DIA
      Fixed Income

            	
              Portfolio
      Management

            	
              Upon
      Request

            	 
      
	
              Supporting
      Data for Sovereign Risk Report

            	
              DIA
      Fixed Income

            	
              Portfolio
      Management

            	
              Currently
      Weekly

            	 
      
	
              Trade
      summary following each indexed annuity issue day

            	
              DIA
      Fixed Income

            	
              Fixed
      Annuity Product Management

            	
              Weekly

            	 
      


    

    


    
 

    
      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

     

     

    
      
        	
                Report
      Name

              	
                Source

              	
                Customer

              	
                Frequency

              	
                Due
      Date

              
	
                Indexed
      annuity option blotter summary

              	
                DIA
      Fixed Income

              	
                Fixed
      Annuity Product Management

              	
                Weekly

              	 
      
	
                SAS
      701

              	
                The
      Adviser to select the provider

              	
                Financial

                Accounting

              	
                Annual

              	
                Reasonable
      period of time following year end2

              
	
                Compliance
      Certificate

              	
                DIA
      Compliance

              	
                Internal
      Audit

              	
                Quarterly

              	
                Within
      two weeks of quarter end

              
	
                Certification
      of Investment Adviser

              	
                Mr.
      Capuzzi and Mr. Quek, or their successors

              	
                Financial
      Reporting/Internal Audit

              	
                Quarterly

              	
                Within
      two weeks of quarter end

              
	
                California
      Department of Insurance Questionnaire

              	
                DIA
      Compliance

              	
                Financial
      Reporting

              	
                Annually

              	
                As
      requested by California Department of Insurance

              
	
                Risk
      Benchmark

              	
                DIA
      Fixed Income

              	
                Portfolio
      Management

              	
                Quarterly

              	
                Within
      ten business days of receiving Lincoln portfolio return data (per Schedule
      D)

              


      

      


      


      

        

      

       

        1SAS 70 report to only cover trade
operations.

      

       

        2Initial SAS 70 report (to be a Type I
report) will cover 1/1/10 to 9/30/10, with the resulting report
provided to the Client no later than 12/31/10 or
such other date as the parties mutually agree.  Each subsequent
SAS 70 report (each of which to be a Type
II report) will cover the period 10/1 through 9/30 each year, with the
resulting report provided
to the Client no later than 12/31 of the applicable year or such other date as the parties mutually
agree.

      


      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      



     

    Schedule
D

     

    Data and Other
Information

     

    
      	
              Currently
      Automated Investment Information Needs

            	
              Automated
      References

            
	 
      	 
      
	
              Trade
      Information for General Accounts

            	
              Currently
      entered into the following applications: Short Term Trade, Long Term
      Trade, Docket, Bloomberg, email Notifications

            
	
              Industry
      and credit exposure information for short terms

            	
              Currently
      part of Short Term Trade application

            
	
              Maintain
      asset codes and indicators

            	
              As
      currently maintained in internally written applications:  Trade
      Interface Application to be maintained by Lincoln going
      forward.

            
	
              Investment
      Data Management

            	
              Currently
      Delaware provides data to support investment data
    management.

            
	
              State
      Compliance Information

            	
              Currently
      in Paragraph Code Compliance Application and
  spreadsheets.

            
	
              Information
      on Troubled and Watched Securities

            	
              Currently
      part of Investment Data Management or spreadsheet to Investment Accounting
      to enter on Prism.

            
	
              Pricing
      and Analytic Information for assets where public information is not
      available or accurate

            	
              Currently
      get this information from Intex (for CMBS, ABS, etc) - manually modeled by
      Delaware, Delaware to provide information to Lincoln so that Lincoln may
      use Axiom (for public securities and private placements), and spreadsheets
      for manually priced private placements.

            
	
              Underlying
      assumptions to

              generate
      cash flow data

            	
              Currently
      provided by Delaware personnel.

            
	
              Admitted
      Assets

            	
              Currently
      provided by Lincoln to Delaware to permit Delaware compliance to do
      paragraph coding

            
	
              Insurance
      law updates

            	
              Currently
      provided by LNY and LNL personnel.

            
	
              Security
      level data and aggregation

            	
              Lincoln
      to provide Delaware with total return of the portfolio at the CUSIP, asset
      class and total portfolio level and any other data necessary to generate
      the risk benchmark and its attribution.

            
	
              GIPS
      data

            	
              Upon
      reasonable prior notice, Lincoln personnel to provide information to
      Delaware so
      that Delaware
      may prepare GIPS compliant returns as/when
  requested.

            


    

    


    
      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    
 

     

    
      
        	
                Data
      necessary to calculate investment advisory fees

              	
                Lincoln
      to provide Delaware with book value of the assets and other data as
      necessary to calculate the Management Fees due under the
      Agreement.

              


      

       

      
 

      
        
          
            
              An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

            

             


          

          
             


            
              

            

          

          
             


          

        

      

      


    

     

    Schedule
E

     

    Approved
Managers

    


    


    
      	
               
      

            	
              1.

            	
              *

            


    

    
      	
               
      

            	
              2.

            	
              *

            


    

    
      	
               
      

            	
              3.

            	
              *

            


    

    
      	
               
      

            	
              4.

            	
              *

            


    

    
      	
               
      

            	
              5.

            	
              *

            


    

    


    
      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.

          

           


        

        
           


          
            

          

        

        
           


        

      

    

    


    Schedule
F

     

    Private Placement Debt
Securities

     

    
      	
              Eom
      date

            	
              Cusip

            	
              Security
      Name

            	
              Coupon

            	
              Maturity
      Date

            	
              Price
      Source

            	
              Sum
      of Book Value

            	
              Sum
      of Par Value

            	
              Sum
      of Market Value

            
	
              30-Nov-09

            	
              39063@AD2

            	
              GREAT
      LAKES GAS TRANS L P

            	
              9.09

            	
              30-Oct-21

            	
              AXIOM

            	
                         8,036,288

            	
                                  7,102,000

            	
                            8,667,565

            
	
              30-Nov-09

            	
              19238VA#2

            	
              COGECO
      CABLE INC SER A SR SEC NT

            	
              7

            	
              01-Oct-15

            	
              AXIOM

            	
                       25,000,000

            	
                                25,000,000

            	
                           27,852,500

            
	
              30-Nov-09

            	
              52465#AC9

            	
              LEGG
      MASON MTG CAP TR RITE AID 98-CTL-

            	
              6.55153

            	
              10-Mar-20

            	
              AXIOM

            	
                         1,726,359

            	
                                  2,222,033

            	
                            1,928,636

            
	
              30-Nov-09

            	
              24713@AA4

            	
              DELOITTE
      & TOUCHE USA LLP SER A GTD NT

            	
              6.24

            	
              20-Nov-11

            	
              AXIOM

            	
                       10,064,058

            	
                                10,000,000

            	
                           10,618,000

            
	
              30-Nov-09

            	
              907821T28

            	
              UNION
      PAC RR CO (BNY MIDWEST TR) J

            	
              3.86

            	
              29-Sep-12

            	
              AXIOM

            	
                            775,879

            	
                                     775,879

            	
                               799,240

            
	
              30-Nov-09

            	
              58526#AK5

            	
              MEIJER
      FINANCE INC SR SEC NTS B3

            	
              8.24

            	
              01-Jun-20

            	
              AXIOM

            	
                         2,975,603

            	
                                  2,742,900

            	
                            3,344,692

            
	
              30-Nov-09

            	
              99BLOX9B3

            	
              OXBOW
      CARBON LLC TRNCH DD TERM LOAN LN

            	
              2.31

            	
              30-Apr-14

            	
              OBROK

            	
                            231,706

            	
                                     231,706

            	
                               216,355

            
	
              30-Nov-09

            	
              00855LAB5

            	
              AGUA
      CALIENTE BAND CAHUILLA INDIANS SR

            	
              6.85

            	
              01-Oct-21

            	
              AXIOM

            	
                         7,029,382

            	
                                  7,000,000

            	
                            5,974,780

            
	
              30-Nov-09

            	
              D5894#AB6

            	
              OILTANKING
      GMBH SR NTS

            	
              6.04

            	
              05-Jan-19

            	
              AXIOM

            	
                       19,196,556

            	
                                20,000,000

            	
                           20,792,800

            
	
              30-Nov-09

            	
              12532@AA8

            	
              BURLINGTON
      NORTHERN SANTA FE CFT BNSF2

            	
              5.66

            	
              15-Jan-23

            	
              AXIOM

            	
                         2,498,625

            	
                                  2,592,593

            	
                            2,752,633

            
	
              30-Nov-09

            	
              97181#CF8

            	
              WILM'TN
      TR SER B (BPASSUMPSOLVAY95)

            	
              7.52

            	
              01-Jan-18

            	
              AXIOM

            	
                            346,825

            	
                                     321,175

            	
                               385,683

            
	
              30-Nov-09

            	
              857449#V4

            	
              STATE
      STREET BK & TR (AIRBUS) SER B CT

            	
              8.99

            	
              15-Sep-18

            	
              AXIOM

            	
                         1,631,856

            	
                                  1,401,986

            	
                            1,869,927

            
	
              30-Nov-09

            	
              718282AA4

            	
              PHILIPPINE
      PWR TRUST I (OPIC INS) CTFS

            	
              5.4

            	
              26-Sep-18

            	
              IDSI

            	
                       29,979,358

            	
                                30,600,000

            	
                           31,703,130

            
	
              30-Nov-09

            	
              92203#AB4

            	
              VANGUARD
      GROUP INC SER B SR SEC NTS

            	
              7.52

            	
              19-Sep-10

            	
              AXIOM

            	
                       16,250,000

            	
                                16,250,000

            	
                           16,906,175

            
	
              30-Nov-09

            	
              25469#AC1

            	
              DISCOVERY
      COMMUNICATIONS SER C SR NTS

            	
              8.37

            	
              09-Mar-11

            	
              AXIOM

            	
                       10,282,205

            	
                                10,000,000

            	
                           10,724,200

            
	
              30-Nov-09

            	
              97180*UV8

            	
              WILMINGTON/TUCSON
      ELEC SER C-5

            	
              10.73239

            	
              01-Jan-13

            	
              AXIOM

            	
                         1,919,477

            	
                                  1,900,284

            	
                            2,104,774

            
	
              30-Nov-09

            	
              P7906#AA7

            	
              PORT
      OF SPAIN WATERFRONT DEV SER A SEC

            	
              6.09

            	
              01-Jan-23

            	
              AXIOM

            	
                       52,105,833

            	
                                52,105,833

            	
                           46,574,277

            
	
              30-Nov-09

            	
              09690@AA2

            	
              BODDIE
      MIDLOTHIAN LLC 6.83% CTL NT

            	
              6.73

            	
              01-Aug-27

            	
              AXIOM

            	
                         3,448,650

            	
                                  3,448,650

            	
                            4,055,957

            
	
              30-Nov-09

            	
              97181#KH5

            	
              WILMINGTON
      TR UPRR 2004-H

            	
              5.85

            	
              29-Jun-24

            	
              AXIOM

            	
                         6,623,270

            	
                                  6,611,448

            	
                            7,243,568

            
	
              30-Nov-09

            	
              29481#AC7

            	
              ERGON
      INC GTD SR NT

            	
              5.5

            	
              20-May-18

            	
              AXIOM

            	
                       14,000,000

            	
                                14,000,000

            	
                           13,697,460

            
	
              30-Nov-09

            	
              C5864@AC3

            	
              MULLEN
      GROUP LTD SER C SR GTD NT(CAD)

            	
              5.6

            	
              30-Jun-16

            	
              MANUL

            	
                         9,425,959

            	
                                10,000,000

            	
                            9,577,425

            
	
              30-Nov-09

            	
              75074#AD1

            	
              RAIL
      CO VII INVESTORS SECD NT (TR 3)

            	
              6.98

            	
              01-Apr-11

            	
              AXIOM

            	
                         2,225,841

            	
                                  2,225,841

            	
                            2,376,575

            
	
              30-Nov-09

            	
              99BLGY9B0

            	
              GRACEWAY
      PHARM LLC TRNCH B 1ST LIEN TE

            	
              3.06875

            	
              31-Dec-14

            	
              OBROK

            	
                         3,954,942

            	
                                  3,955,517

            	
                            2,887,527

            
	
              30-Nov-09

            	
              97180*KC1

            	
              WILMINGTON
      TR (CSX) SER B BNY-2 LEV LE

            	
              10.23

            	
              26-Mar-10

            	
              AXIOM

            	
                            956,269

            	
                                     947,053

            	
                               972,311

            
	
              30-Nov-09

            	
              74831*AA8

            	
              QUEENSLAND
      1995 PASS-THROUGH TRUST

            	
              7.82

            	
              03-Jan-33

            	
              AXIOM

            	
                       14,420,000

            	
                                14,420,000

            	
                           18,009,859

            
	
              30-Nov-09

            	
              63615#AG6

            	
              NATIONAL
      FOOTALL LEAGUE SER B SR NT

            	
              5.6

            	
              31-Mar-24

            	
              AXIOM

            	
                         9,000,000

            	
                                  9,000,000

            	
                            9,343,980

            
	
              30-Nov-09

            	
              564905A#4

            	
              MAPLE
      LEAF FOODS INC SER E SR GTD NT

            	
              5.21

            	
              08-Dec-11

            	
              AXIOM

            	
                       15,000,000

            	
                                15,000,000

            	
                           15,683,550

            
	
              30-Nov-09

            	
              92240@AD7

            	
              VECTREN
      SR NTS

            	
              4.99

            	
              15-Dec-10

            	
              AXIOM

            	
                         2,959,615

            	
                                  3,000,000

            	
                            3,074,550

            
	
              30-Nov-09

            	
              592688A*6

            	
              METTLER-TOLEDO
      INTL INC 2009-A SR NT

            	
              6.3

            	
              25-Jun-15

            	
              AXIOM

            	
                       15,000,000

            	
                                15,000,000

            	
                           16,492,800

            
	
              30-Nov-09

            	
              81683RB#0

            	
              SEMINOLE
      INDIAN TRIBE OF FLORIDA TRNCH

            	
              2.125

            	
              05-Mar-14

            	
              OBROK

            	
                              64,122

            	
                                       64,122

            	
                                 59,473

            
	
              30-Nov-09

            	
              G1696#AC0

            	
              BUNZL
      FINANCE PLC SER C GTD NTS

            	
              7.1

            	
              02-Jul-11

            	
              AXIOM

            	
                         7,128,746

            	
                                  7,000,000

            	
                            7,499,310

            
	
              30-Nov-09

            	
              Q3126#AE1

            	
              DB
      RREEF FIN PTY LTD SER E GTD SR NT

            	
              5.49

            	
              29-Mar-15

            	
              AXIOM

            	
                         9,000,000

            	
                                  9,000,000

            	
                            8,562,780

            
	
              30-Nov-09

            	
              05577@AK6

            	
              BTMU
      CAP CORP SER D (BNSF 2009-A)

            	
              6.55

            	
              26-Feb-21

            	
              AXIOM

            	
                         3,838,048

            	
                                  3,838,048

            	
                            4,413,755

            
	
              30-Nov-09

            	
              97181#EU3

            	
              WILMINGTON
      TR NT BP&SOLVAY EQ TR 98

            	
              6.63

            	
              02-Jan-20

            	
              AXIOM

            	
                         1,898,356

            	
                                  1,859,561

            	
                            2,071,012

            
	
              30-Nov-09

            	
              22822*AB6

            	
              CROWN
      CCR HLDGS GP SER B SR GTD NT

            	
              7.58

            	
              12-Aug-18

            	
              AXIOM

            	
                       24,918,000

            	
                                25,000,000

            	
                           26,807,250

            
	
              30-Nov-09

            	
              698525AA0

            	
              PANOCHE
      ENERGY CENTER LLC SR SEC 144A

            	
              6.885

            	
              31-Jul-29

            	
              IDSI

            	
                         7,000,000

            	
                                  7,000,000

            	
                            6,764,100

            
	
              30-Nov-09

            	
              97181#KY8

            	
              WILMINGTON
      TR UPRR 2005-B2

            	
              5.36

            	
              29-Dec-28

            	
              AXIOM

            	
                            433,811

            	
                                     477,497

            	
                               506,844

            
	
              30-Nov-09

            	
              857449#X0

            	
              STATE
      STREET BK & TR (AIRBUS) SER B CT

            	
              8.99

            	
              15-Sep-18

            	
              AXIOM

            	
                         1,630,870

            	
                                  1,401,139

            	
                            1,868,797

            
	
              30-Nov-09

            	
              Q9194#AC9

            	
              TRANSURBAN
      FIN CO PTY TR-C 2004-1 SR N

            	
              5.47

            	
              07-Dec-19

            	
              AXIOM

            	
                       10,155,906

            	
                                11,800,000

            	
                           12,881,234

            
	
              30-Nov-09

            	
              48124#AA4

            	
              JP
      HOSPITALITY DEFEASANCE LLC BOYNTON

            	
              9.099

            	
              01-Jan-18

            	
              AXIOM

            	
                         7,910,847

            	
                                  6,916,765

            	
                            8,989,996

            
	
              30-Nov-09

            	
              F1790#AA0

            	
              CIMENTS
      FRANCAIS SA SER A SR NT

            	
              5.63

            	
              15-Nov-12

            	
              AXIOM

            	
                       19,000,000

            	
                                19,000,000

            	
                           19,822,320

            
	
              30-Nov-09

            	
              12626#AG0

            	
              CRH
      AMERICA INC GTD SER B SR NTS

            	
              7.9

            	
              22-Sep-11

            	
              AXIOM

            	
                       12,041,679

            	
                                12,000,000

            	
                           13,008,360

            
	
              30-Nov-09

            	
              Q5581#AB0

            	
              LION
      NATHAN FIN (AUSTRALIA) PTY LTD SR

            	
              4.53

            	
              28-Aug-15

            	
              AXIOM

            	
                         9,433,203

            	
                                10,000,000

            	
                           10,637,900

            
	
              30-Nov-09

            	
              N6510*AF2

            	
              NUTRECO
      HLDG NV SER C SR NT

            	
              8.22

            	
              08-Apr-19

            	
              AXIOM

            	
                       15,000,000

            	
                                15,000,000

            	
                           18,787,950

            
	
              30-Nov-09

            	
              88162FA*6

            	
              TETRA
      TECHNOLOGIES INC SR NT

            	
              5.07

            	
              30-Sep-11

            	
              AXIOM

            	
                         5,883,997

            	
                                  6,000,000

            	
                            6,175,800

            
	
              30-Nov-09

            	
              89653QA#2

            	
              TRINITY
      MIRROR PLC SER B SR NTS

            	
              7.04

            	
              24-Oct-11

            	
              AXIOM

            	
                       13,218,317

            	
                                13,000,000

            	
                           12,318,670

            
	
              30-Nov-09

            	
              52465#AA3

            	
              LEGG
      MASON MTG CAP TR RITE AID 97-C1

            	
              7.3

            	
              10-Mar-19

            	
              AXIOM

            	
                         1,592,118

            	
                                  1,724,822

            	
                            1,636,649

            
	
              30-Nov-09

            	
              58983*DY2

            	
              MERIDIAN
      TRUST USWEST GTD LEASE SER B

            	
              8.75

            	
              01-Jan-12

            	
              AXIOM

            	
                            326,177

            	
                                     324,316

            	
                               335,686

            
	
              30-Nov-09

            	
              G1744#AE8

            	
              CADOGAN
      ESTATES LTD SER A GTD SR NT

            	
              6.45

            	
              07-Aug-18

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,249,700

            
	
              30-Nov-09

            	
              02078@AA9

            	
              ALPHAGEN
      POWER LLC SR SEC NTS

            	
              9.018

            	
              01-Jul-24

            	
              AXIOM

            	
                       11,565,798

            	
                                11,565,798

            	
                           14,446,722

            
	
              30-Nov-09

            	
              254012AA5

            	
              DIGNITY
      PARTNERS FNDG CP SR NTS

            	
              9.17

            	
              10-Mar-05

            	
              MANUL

            	
                            908,626

            	
                                  9,996,690

            	
                               899,702

            
	
              30-Nov-09

            	
              75074#AC3

            	
              RAIL
      CO VII INVESTORS INC TR2 SEC NT

            	
              6.97

            	
              01-Apr-11

            	
              AXIOM

            	
                         2,946,044

            	
                                  2,946,044

            	
                            3,145,109

            
	
              30-Nov-09

            	
              D3917#AE8

            	
              DEUTZ
      AG SER E SR NT

            	
              6.12

            	
              16-Jul-17

            	
              AXIOM

            	
                       18,000,000

            	
                                18,000,000

            	
                           16,622,460

            
	
              30-Nov-09

            	
              910637M*5

            	
              UNITED
      ILLUMINATING CO SER B SR NT

            	
              4.89

            	
              12-Dec-09

            	
              AXIOM

            	
                         2,998,834

            	
                                  3,000,000

            	
                            3,002,790

            
	
              30-Nov-09

            	
              85746*CA6

            	
              STATE
      ST BK & TR NOVA CHEMICALS INC LE

            	
              7.11

            	
              27-Sep-16

            	
              AXIOM

            	
                         8,774,580

            	
                                  9,720,320

            	
                            9,548,950

            
	
              30-Nov-09

            	
              21864*AC5

            	
              CORDOVA
      FUNDING SR SEC NTS A3 144A WO

            	
              9.07

            	
              15-Dec-19

            	
              AXIOM

            	
                         1,456,656

            	
                                  1,405,966

            	
                            1,339,296

            
	
              30-Nov-09

            	
              70383#AD8

            	
              PAVESTONE
      SEC SER B

            	
              6.73

            	
              15-Jul-11

            	
              AXIOM

            	
                         2,352,942

            	
                                  2,376,504

            	
                            2,387,911

            
	
              30-Nov-09

            	
              99BLPI9A7

            	
              PINNACLE
      FOODS FINANCE LLC TRNCH B TER

            	
              3.25063

            	
              02-Apr-14

            	
              OBROK

            	
                            682,699

            	
                                     684,250

            	
                               632,363

            
	
              30-Nov-09

            	
              335867G@0

            	
              FIRST
      OMNI BANK NA AMSOUTH TR 99 A-1 S

            	
              6.65

            	
              02-Jan-21

            	
              MANUL

            	
                            806,564

            	
                                  1,412,250

            	
                            1,412,250

            
	
              30-Nov-09

            	
              D1769@AB9

            	
              DEUTSCHE
      BORSE AG SER B SR NT

            	
              5.86

            	
              12-Jun-18

            	
              AXIOM

            	
                       30,000,000

            	
                                30,000,000

            	
                           31,665,600

            
	
              30-Nov-09

            	
              81675*AB0

            	
              SEMINOLE
      ELECTRIC COOPERATIVE SER A SR

            	
              5.57

            	
              28-Dec-24

            	
              AXIOM

            	
                         9,338,843

            	
                                  9,338,843

            	
                            9,644,877

            
	
              30-Nov-09

            	
              29266RC#3

            	
              ENERGIZER
      HOLDINGS INC SR NTS SER A-5

            	
              3.63

            	
              30-Jun-10

            	
              AXIOM

            	
                         4,946,238

            	
                                  5,000,000

            	
                            5,058,650

            
	
              30-Nov-09

            	
              16166#AC6

            	
              CHASKA
      CAPITAL CORP SEC EQ NT (TR 3)

            	
              6.98

            	
              01-Apr-11

            	
              AXIOM

            	
                            145,150

            	
                                     145,150

            	
                               154,980

            
	
              30-Nov-09

            	
              25247*AA8

            	
              DHC
      LNL BEDFORD RET RES DEFEASANCE NT

            	
              5.81

            	
              10-Apr-25

            	
              AXIOM

            	
                         6,671,936

            	
                                  6,671,936

            	
                            7,941,738

            
	
              30-Nov-09

            	
              Q0307#AB4

            	
              AMCOR
      LIMITED SER B SR NT

            	
              5.65

            	
              17-Dec-12

            	
              AXIOM

            	
                         7,000,000

            	
                                  7,000,000

            	
                            7,435,610

            
	
              30-Nov-09

            	
              G3651#AE5

            	
              QUINN
      GROUP LTD SER B SR GTD NT

            	
              6.11

            	
              25-Apr-13

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           20,909,000

            
	
              30-Nov-09

            	
              96218PAR1

            	
              WEYERHAEUSER
      REAL ESTATE 144A MTN

            	
              5.5

            	
              16-Dec-10

            	
              IDSI

            	
                         1,981,752

            	
                                  2,000,000

            	
                            2,029,000

            
	
              30-Nov-09

            	
              G6843#AB3

            	
              P&O
      PRINCESS CRUISES PLC SER B SR NT

            	
              7.72

            	
              31-Jul-15

            	
              AXIOM

            	
                       12,403,805

            	
                                12,000,000

            	
                           13,169,400

            
	
              30-Nov-09

            	
              N4577#AB2

            	
              INTL
      ENDESA SA BV SER B SR GTD NT

            	
              5.23

            	
              09-Sep-12

            	
              AXIOM

            	
                       10,813,778

            	
                                11,000,000

            	
                           11,684,640

            
	
              30-Nov-09

            	
              300674AA6

            	
              EXCEL
      PARALUBES FUNDING CORP

            	
              7.43

            	
              01-Nov-15

            	
              IDSI

            	
                       28,373,805

            	
                                28,000,000

            	
                           31,101,280

            
	
              30-Nov-09

            	
              003708AB0

            	
              ABLE
      EMPIRE GROUP LP NTS (GSA-DEA) 144

            	
              7.26

            	
              15-Jun-11

            	
              AXIOM

            	
                         3,747,576

            	
                                  3,716,387

            	
                            3,789,972

            
	
              30-Nov-09

            	
              74731@BU2

            	
              QUAD/GRAPHICS
      INC SR SEC SER 01-1 A

            	
              7.46

            	
              10-Apr-16

            	
              AXIOM

            	
                         1,691,966

            	
                                  1,625,000

            	
                            1,631,370

            
	
              30-Nov-09

            	
              25241@AA2

            	
              DHC
      JP SHERIDAN EAST DEFEASANCE LLC NT

            	
              5.9

            	
              01-Jan-13

            	
              AXIOM

            	
                       12,364,412

            	
                                12,389,983

            	
                           14,137,590

            
	
              30-Nov-09

            	
              08863@AA5

            	
              BGC
      PARTNERS SR NT

            	
              5.19

            	
              01-Apr-10

            	
              AXIOM

            	
                         6,573,366

            	
                                  6,600,000

            	
                            6,596,700

            
	
              30-Nov-09

            	
              71839#AA2

            	
              PHILLIES
      FDG LP SR SEC REV BKD NTS

            	
              6.21

            	
              10-Jun-30

            	
              AXIOM

            	
                       10,571,697

            	
                                11,020,305

            	
                           10,011,396

            
	
              30-Nov-09

            	
              Q3946*AC7

            	
              FOXTEL
      MGT PTY LTD SER C GTD SR SEC NT

            	
              6.2

            	
              24-Sep-19

            	
              AXIOM

            	
                       13,000,000

            	
                                13,000,000

            	
                           13,569,920

            
	
              30-Nov-09

            	
              44440*AD8

            	
              HUGHES
      AIRCRAFT/AURORA-IRE SER A SEC N

            	
              10.36

            	
              30-Sep-12

            	
              AXIOM

            	
                            170,498

            	
                                     154,040

            	
                               187,804

            
	
              30-Nov-09

            	
              G5655@AC2

            	
              LOUGHMANE
      LTD SER C SR GTD NT

            	
              5.78

            	
              21-Dec-14

            	
              AXIOM

            	
                         9,819,241

            	
                                10,000,000

            	
                           10,394,800

            
	
              30-Nov-09

            	
              G0682#AC8

            	
              AVIS
      FINANCE CO PLC SR NTS

            	
              5.66

            	
              09-Jun-11

            	
              AXIOM

            	
                         8,529,827

            	
                                  9,000,000

            	
                            8,869,590

            
	
              30-Nov-09

            	
              N2962#AB9

            	
              ENECO
      HOLDING NV SER B SR NT

            	
              4.72

            	
              28-Mar-17

            	
              MANUL

            	
                       28,457,598

            	
                                19,000,000

            	
                           27,259,406

            
	
              30-Nov-09

            	
              97180*VN5

            	
              WILM'TN
      TR B (FED EXPRS N605FE)

            	
              7.7

            	
              29-Jan-12

            	
              AXIOM

            	
                         1,824,523

            	
                                  1,785,250

            	
                            1,982,841

            
	
              30-Nov-09

            	
              25654#AB8

            	
              DODGER
      TICKETS LLC 2007-A SR SEC NT

            	
              6.07

            	
              31-Mar-32

            	
              AXIOM

            	
                       15,000,000

            	
                                15,000,000

            	
                           13,647,600

            
	
              30-Nov-09

            	
              97180*KB3

            	
              WILMINGTON
      TR (CSX) SER B BNY-1 LEVD L

            	
              10.23

            	
              26-Mar-13

            	
              AXIOM

            	
                         3,909,650

            	
                                  3,740,930

            	
                            4,259,124

            
	
              30-Nov-09

            	
              71838#AA3

            	
              PHILLIES
      BALLPARK LP SR SEC NT

            	
              6.19

            	
              01-Nov-14

            	
              AXIOM

            	
                         6,108,832

            	
                                  6,108,832

            	
                            6,236,262

            
	
              30-Nov-09

            	
              03040#AA0

            	
              AMERICAN
      WATER CAP CORP SR NT

            	
              6.87

            	
              29-Mar-11

            	
              AXIOM

            	
                         6,006,522

            	
                                  6,000,000

            	
                            6,221,520

            
	
              30-Nov-09

            	
              D8884#AA4

            	
              VOITH
      AG SER A NTS

            	
              5.88

            	
              17-Aug-14

            	
              AXIOM

            	
                         6,887,365

            	
                                  7,000,000

            	
                            7,529,480

            
	
              30-Nov-09

            	
              30215*AL2

            	
              EXPLORER
      PIPELINE CO SER K SR NTS

            	
              6.76

            	
              31-Jul-17

            	
              AXIOM

            	
                         8,401,518

            	
                                  8,000,000

            	
                            8,646,560

            
	
              30-Nov-09

            	
              74731@AL3

            	
              QUAD/GRAPHICS
      INC SR SEC SER 96-1 TR K

            	
              8.16

            	
              15-Dec-16

            	
              AXIOM

            	
                         2,936,125

            	
                                  2,727,273

            	
                            2,774,782

            
	
              30-Nov-09

            	
              21864*AB7

            	
              CORDOVA
      FUNDING SR SEC A2 144A

            	
              8.79

            	
              15-Dec-19

            	
              AXIOM

            	
                         1,528,125

            	
                                  1,502,387

            	
                            1,403,860

            
	
              30-Nov-09

            	
              23307#AB4

            	
              DB
      RREEF INDL PROPS SER B SR GTD NT

            	
              5.53

            	
              08-Feb-13

            	
              AXIOM

            	
                       14,000,000

            	
                                14,000,000

            	
                           13,930,840

            
	
              30-Nov-09

            	
              78487#AA2

            	
              SWA/WHEAT
      RIDGE LLC (WALGREEN)6.70%CTL

            	
              6.6

            	
              01-Sep-27

            	
              AXIOM

            	
                         2,340,308

            	
                                  2,340,308

            	
                            2,727,302

            
	
              30-Nov-09

            	
              82048@AE0

            	
              SOUTHERN
      PAC TRANS CO-LESSEE;SHAWMUT

            	
              7.22

            	
              02-Jul-13

            	
              AXIOM

            	
                         4,518,211

            	
                                  4,504,699

            	
                            5,001,702

            
	
              30-Nov-09

            	
              G2978#AE3

            	
              ELECTRICITY
      SUPPLY BOARD (ESB) SR NTS

            	
              6.05

            	
              15-Dec-23

            	
              AXIOM

            	
                       10,016,520

            	
                                10,000,000

            	
                            9,734,400

            
	
              30-Nov-09

            	
              251526E#2

            	
              DEUTSCHE
      BK NY(CENTRICA) FLTG PERFORM

            	
              1.48313

            	
              04-Oct-26

            	
              AXIOM

            	
                       65,000,000

            	
                                65,000,000

            	
                           68,809,000

            
	
              30-Nov-09

            	
              24713#AD6

            	
              DELOITTE
      & TOUCHE SER C SR GTD NTS

            	
              7.6

            	
              01-Oct-11

            	
              AXIOM

            	
                         7,030,466

            	
                                  7,000,000

            	
                            7,587,440

            
	
              30-Nov-09

            	
              Q3915#AD8

            	
              FLETCHER
      BLDG INTL LP SER B GTD SR N

            	
              3.7

            	
              27-Oct-15

            	
              MANUL

            	
                       30,551,343

            	
                                43,072,506

            	
                           30,772,545

            
	
              30-Nov-09

            	
              K7802#AH2

            	
              ROYAL
      GREENLAND A/S SER A SR NT

            	
              5.69

            	
              01-Oct-13

            	
              AXIOM

            	
                       17,000,000

            	
                                17,000,000

            	
                           17,068,510

            
	
              30-Nov-09

            	
              14150BA*5

            	
              CATALENT
      PHARMA SOLUTIONS INC TRNCH B

            	
              2.56875

            	
              10-Apr-14

            	
              OBROK

            	
                         3,910,000

            	
                                  3,910,000

            	
                            3,339,805

            
	
              30-Nov-09

            	
              31435*AA8

            	
              FELLOWES
      INC SR NT

            	
              4.76

            	
              07-Aug-15

            	
              AXIOM

            	
                         9,900,000

            	
                                  9,900,000

            	
                           10,322,631

            
	
              30-Nov-09

            	
              45957@AC0

            	
              INTERNATIONAL
      GROUP GTD SR NTS

            	
              7.2

            	
              10-Sep-12

            	
              AXIOM

            	
                         2,251,585

            	
                                  2,181,818

            	
                            2,266,407

            
	
              30-Nov-09

            	
              492520A*2

            	
              KERZNER
      INTL LTD/NO AM TRNCH B (KIL/KI

            	
              3.5975

            	
              31-Aug-13

            	
              OBROK

            	
                         3,477,712

            	
                                  3,492,817

            	
                            1,921,049

            
	
              30-Nov-09

            	
              16937#AB6

            	
              CHINA
      BASIN BALLPARK CO LLC SR SEC NTS

            	
              8.09

            	
              26-Nov-17

            	
              AXIOM

            	
                       16,996,486

            	
                                16,996,486

            	
                           16,996,486

            
	
              30-Nov-09

            	
              N4281@BD6

            	
              KONINKLIJKE
      VOPAK NV SER P SR NT

            	
              6.14

            	
              19-Jun-22

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,103,050

            
	
              30-Nov-09

            	
              59447#AB9

            	
              MICHIGAN
      ELEC TRANS CO SR SEC NTS

            	
              5.75

            	
              10-Dec-15

            	
              AXIOM

            	
                       11,000,000

            	
                                11,000,000

            	
                           12,053,690

            
	
              30-Nov-09

            	
              507199AC1

            	
              LAGUNA
      DEV CORP ENTERPRISE TXBLE RV BD

            	
              7.26

            	
              01-Jun-21

            	
              MANUL

            	
                       15,000,000

            	
                                15,000,000

            	
                           13,116,600

            
	
              30-Nov-09

            	
              G2978#AB9

            	
              ELECTRICITY
      SUPPLY BOARD (ESB) SR NTS

            	
              5.04

            	
              15-Dec-13

            	
              AXIOM

            	
                         9,725,603

            	
                                10,000,000

            	
                           10,443,600

            
	
              30-Nov-09

            	
              875127B#8

            	
              TAMPA
      ELECTRIC CO SR NTS

            	
              6.25

            	
              15-Apr-16

            	
              AXIOM

            	
                       19,042,476

            	
                                20,000,000

            	
                           21,405,600

            
	
              30-Nov-09

            	
              89838@AC3

            	
              TRSTEES
      EST JAMES CAMPBELL SER C SR NT

            	
              5.77

            	
              30-Sep-16

            	
              AXIOM

            	
                       14,849,456

            	
                                15,000,000

            	
                           15,711,750

            
	
              30-Nov-09

            	
              58528#FA0

            	
              MEIJER,
      INC. E-2

            	
              7.64

            	
              01-Jun-24

            	
              AXIOM

            	
                         1,091,448

            	
                                  1,020,000

            	
                            1,265,606

            
	
              30-Nov-09

            	
              N4577#AC0

            	
              INTL
      ENDESA BV SER C GTD SR NTS

            	
              5.47

            	
              09-Sep-14

            	
              AXIOM

            	
                       38,000,000

            	
                                38,000,000

            	
                           40,796,420

            
	
              30-Nov-09

            	
              24713#AH7

            	
              DELOITTE
      & TOUCHE LLP GTD SER C SR NT

            	
              7.89

            	
              17-Apr-25

            	
              AXIOM

            	
                       27,361,512

            	
                                25,000,000

            	
                           28,681,000

            
	
              30-Nov-09

            	
              99BLBT9B6

            	
              BOSTON
      GENERATING LLC REVOLVER LOAN LN

            	
              3.47

            	
              21-Dec-13

            	
              OBROK

            	
                            145,386

            	
                                     145,394

            	
                               101,897

            
	
              30-Nov-09

            	
              99BLFT9A4

            	
              FIRST
      DATA CORP TRNCH B-3 TERM LOAN LN

            	
              3.06875

            	
              24-Sep-14

            	
              OBROK

            	
                         1,920,146

            	
                                  1,960,000

            	
                            1,628,035

            
	
              30-Nov-09

            	
              44702@AA5

            	
              HUNTSVILLE
      3S LLC 6.77% CTL(WALGREEN)

            	
              6.67

            	
              01-May-27

            	
              AXIOM

            	
                         2,197,460

            	
                                  2,197,460

            	
                            2,572,302

            
	
              30-Nov-09

            	
              74731@BA6

            	
              QUAD/GRAPHICS
      INC SR SEC SER 98-6 TR B

            	
              7.2

            	
              26-Jun-23

            	
              AXIOM

            	
                         8,841,699

            	
                                  8,500,000

            	
                            7,069,110

            
	
              30-Nov-09

            	
              04626RAB2

            	
              ASTORIA
      DEP CORP SER B CTFS 144A

            	
              8.144

            	
              01-May-21

            	
              AXIOM

            	
                       18,748,804

            	
                                19,000,000

            	
                           16,775,670

            
	
              30-Nov-09

            	
              97181#LA9

            	
              WILMINGTON
      TR UPRR 2005B-4

            	
              5.38

            	
              02-Jul-28

            	
              AXIOM

            	
                            225,035

            	
                                     246,814

            	
                               262,718

            
	
              30-Nov-09

            	
              16166#AA0

            	
              CHASKA
      CAP CORP (CARGILL-LESSEE)EQ NT

            	
              6.96

            	
              01-Apr-11

            	
              AXIOM

            	
                            163,158

            	
                                     163,158

            	
                               174,168

            
	
              30-Nov-09

            	
              75074#AF6

            	
              RAIL
      CO VII INVESTORS (TR 5) SECD NT

            	
              7

            	
              01-Apr-11

            	
              AXIOM

            	
                         1,340,865

            	
                                  1,340,865

            	
                            1,431,990

            
	
              30-Nov-09

            	
              80102#AA3

            	
              SANIMAX
      GP (SANIMAL) GTD SR NTS

            	
              5.1

            	
              29-Jun-12

            	
              AXIOM

            	
                       12,665,619

            	
                                13,000,000

            	
                           13,805,480

            
	
              30-Nov-09

            	
              22268*AF8

            	
              AKZO
      NOBEL FKA COURTAULDS SER C GTD

            	
              7.52

            	
              23-Apr-12

            	
              AXIOM

            	
                       18,148,222

            	
                                17,500,000

            	
                           19,226,200

            
	
              30-Nov-09

            	
              05577*AA0

            	
              BPUS
      NEWFINANCE LLC SER 1 SR SEC NT

            	
              5.68

            	
              19-Dec-12

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,281,550

            
	
              30-Nov-09

            	
              29481#AB9

            	
              ERGON
      INC SR NTS

            	
              5.17

            	
              10-Feb-15

            	
              AXIOM

            	
                       11,334,781

            	
                                11,900,000

            	
                           11,701,627

            
	
              30-Nov-09

            	
              564759K#4

            	
              M&T
      BANK CORP PTC (CVS CORP

            	
              7.15

            	
              15-Jan-20

            	
              AXIOM

            	
                       10,331,265

            	
                                  9,835,442

            	
                           11,382,950

            
	
              30-Nov-09

            	
              124900A@0

            	
              CCL
      INDUSTRIES INC SR GTD NTS

            	
              6.97

            	
              16-Sep-12

            	
              AXIOM

            	
                         2,825,215

            	
                                  2,727,273

            	
                            2,916,818

            
	
              30-Nov-09

            	
              38214*CF7

            	
              GOOD
      WILL CO INC SER B GTD MTN NTS

            	
              10.27

            	
              01-Mar-11

            	
              AXIOM

            	
                         2,449,604

            	
                                  2,406,209

            	
                            2,647,528

            
	
              30-Nov-09

            	
              76159#AA3

            	
              RAIL
      CO II (CARGILL-LESSEE) SE

            	
              8.71

            	
              31-Aug-12

            	
              AXIOM

            	
                         4,650,589

            	
                                  4,648,682

            	
                            5,372,946

            
	
              30-Nov-09

            	
              D8282#AC8

            	
              SURTECO
      AG SER A SR NT

            	
              5.4925

            	
              16-Aug-14

            	
              MANUL

            	
                       14,977,683

            	
                                10,000,000

            	
                           13,924,571

            
	
              30-Nov-09

            	
              58526#AF6

            	
              MEIJER
      FINANCE INC SR SEC NTS B2

            	
              8.24

            	
              01-Jun-20

            	
              AXIOM

            	
                         2,706,889

            	
                                  2,495,200

            	
                            3,042,647

            
	
              30-Nov-09

            	
              492520A@0

            	
              KERZNER
      INTL LTD/NO AM INC DELAYED DRA

            	
              3.285

            	
              31-Aug-13

            	
              OBROK

            	
                         1,744,707

            	
                                  1,751,964

            	
                               963,580

            
	
              30-Nov-09

            	
              008272A*7

            	
              AFFIRMATIVE
      INSURANCE HLDGS INC TRNCH

            	
              9.25

            	
              30-Dec-14

            	
              OBROK

            	
                         3,590,907

            	
                                  3,570,871

            	
                            1,780,972

            
	
              30-Nov-09

            	
              G5655@AA6

            	
              LOUGHMANE
      LTD SER A SR GTD NT

            	
              5.32

            	
              21-Dec-11

            	
              AXIOM

            	
                       26,000,000

            	
                                26,000,000

            	
                           26,879,320

            
	
              30-Nov-09

            	
              Q0307#AC2

            	
              AMCOR
      LIMITED SER C SR NT

            	
              4.91

            	
              17-Dec-12

            	
              AXIOM

            	
                         9,870,313

            	
                                10,000,000

            	
                           10,408,900

            
	
              30-Nov-09

            	
              G1418#AH6

            	
              CARIBBEAN
      UTILITIES CO LTD SR NT

            	
              5.96

            	
              15-Dec-20

            	
              AXIOM

            	
                       10,078,098

            	
                                10,000,000

            	
                           10,547,900

            
	
              30-Nov-09

            	
              B6235#AB4

            	
              INBEV,
      FKA INTERBREW SA SR U/S SER B N

            	
              4.41

            	
              22-Oct-10

            	
              AXIOM

            	
                       24,726,425

            	
                                25,000,000

            	
                           25,638,250

            
	
              30-Nov-09

            	
              97180*SE9

            	
              WILMINGTON
      TR AIRBUS IND CTF-92 NW-C

            	
              9.03

            	
              28-Nov-14

            	
              AXIOM

            	
                            154,701

            	
                                     141,185

            	
                               165,104

            
	
              30-Nov-09

            	
              705322AG0

            	
              PEDERNALIS
      ELEC COOP FMB 144A SER 95-A

            	
              7.55

            	
              15-Nov-15

            	
              AXIOM

            	
                         1,163,696

            	
                                  1,131,416

            	
                            1,312,566

            
	
              30-Nov-09

            	
              D7625#AC6

            	
              SOLARWORLD
      AG SER C SR NT

            	
              6.12

            	
              21-Dec-18

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,258,650

            
	
              30-Nov-09

            	
              060340A*7

            	
              BANISTMO
      CREDIT CD RCVBLS TR 2004 SER

            	
              5.858

            	
              15-Dec-11

            	
              AXIOM

            	
                         7,705,226

            	
                                  7,705,226

            	
                            7,836,061

            
	
              30-Nov-09

            	
              78443*AH4

            	
              SLBP
      HLDGS CORP SER A SR NT

            	
              7.8

            	
              30-Jun-12

            	
              MANUL

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,100,000

            
	
              30-Nov-09

            	
              871655C*5

            	
              SYPRIS
      SOLUTIONS INC SER A SR SEC NT

            	
              12

            	
              15-Jan-12

            	
              AXIOM

            	
                         1,441,940

            	
                                  1,451,445

            	
                            1,372,646

            
	
              30-Nov-09

            	
              48124#AB2

            	
              JP
      HOSPITALITY DEFEASANCE LLC BOCA HOS

            	
              8.375

            	
              01-Feb-17

            	
              AXIOM

            	
                         2,960,361

            	
                                  2,686,180

            	
                            3,343,247

            
	
              30-Nov-09

            	
              29266RD@4

            	
              ENERGIZER
      HLDGS INC SER A-7 SR NT

            	
              4.1

            	
              30-Jun-12

            	
              AXIOM

            	
                         6,807,444

            	
                                  7,000,000

            	
                            7,300,510

            
	
              30-Nov-09

            	
              37930EAA4

            	
              GLITNIR
      BANKI HF AMORTIZING SR NT

            	
              6.31

            	
              28-Jul-11

            	
              MANUL

            	
                            600,000

            	
                                12,000,000

            	
                               600,000

            
	
              30-Nov-09

            	
              92428FAB3

            	
              VERMONT
      TRANSCO LLC SER R FMB ACCD INV

            	
              5.75

            	
              01-Apr-37

            	
              AXIOM

            	
                       19,000,000

            	
                                19,000,000

            	
                           19,709,080

            
	
              30-Nov-09

            	
              Q3946*AB9

            	
              FOXTEL
      MGT PTY LTD SER B GTD SR SEC NT

            	
              5.83

            	
              24-Sep-16

            	
              AXIOM

            	
                         5,954,000

            	
                                  6,000,000

            	
                            6,303,360

            
	
              30-Nov-09

            	
              736508G*7

            	
              PORTLAND
      GENERAL ELEC SER A 1ST MTG BD

            	
              6.26

            	
              01-May-31

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           22,351,600

            
	
              30-Nov-09

            	
              29266RH#8

            	
              ENERGIZER
      HOLDINGS INC SER 2006-B SR N

            	
              6.05

            	
              30-Jun-11

            	
              AXIOM

            	
                         7,000,000

            	
                                  7,000,000

            	
                            7,453,250

            
	
              30-Nov-09

            	
              031100D*8

            	
              AMETEK
      INC SER G SR NT

            	
              7.18

            	
              17-Dec-18

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,704,450

            
	
              30-Nov-09

            	
              729237B@5

            	
              PLUM
      CREEK TIMBER CO LP

            	
              7.97

            	
              13-Nov-11

            	
              AXIOM

            	
                            405,101

            	
                                     395,269

            	
                               428,274

            
	
              30-Nov-09

            	
              G3651#AH8

            	
              QUINN
      GROUP LTD SER B SR NT

            	
              5.75

            	
              03-Apr-14

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,256,000

            
	
              30-Nov-09

            	
              253651A#0

            	
              DIEBOLD
      INC SER 2006A GTD SR NT

            	
              5.5

            	
              02-Mar-16

            	
              AXIOM

            	
                         1,657,019

            	
                                  2,000,000

            	
                            2,084,420

            
	
              30-Nov-09

            	
              58526#BG3

            	
              MEIJER
      FINANCE INC GTD SR SEC NT B2 ST

            	
              8.03

            	
              01-Jan-11

            	
              AXIOM

            	
                         3,443,855

            	
                                  3,379,400

            	
                            3,609,639

            
	
              30-Nov-09

            	
              75074#AE9

            	
              RAIL
      CO VII INVESTORS INC SEC NT (TR 4

            	
              6.99

            	
              01-Apr-11

            	
              AXIOM

            	
                         4,636,989

            	
                                  4,636,989

            	
                            4,951,748

            
	
              30-Nov-09

            	
              03040#AF9

            	
              AMERICAN
      WATER CAP CORP SER E SR NT

            	
              5.62

            	
              29-Mar-19

            	
              AXIOM

            	
                         3,200,000

            	
                                  3,200,000

            	
                            3,280,576

            
	
              30-Nov-09

            	
              97180*UR7

            	
              WILMINGTON/TUCSON
      ELEC SER C-1

            	
              10.73239

            	
              01-Jan-12

            	
              AXIOM

            	
                         1,980,159

            	
                                  1,969,394

            	
                            2,110,599

            
	
              30-Nov-09

            	
              99BLOX9A5

            	
              OXBOW
      CARBON LLC TRNCH B TERM LOAN

            	
              2.285

            	
              31-Dec-14

            	
              OBROK

            	
                         2,424,876

            	
                                  2,424,876

            	
                            2,264,228

            
	
              30-Nov-09

            	
              B6385#AB2

            	
              OMEGA
      PHARMA NV SER B GTD SR NT

            	
              5.44

            	
              28-Jul-11

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           20,817,800

            
	
              30-Nov-09

            	
              C4862#AB8

            	
              ISLAND
      TIMBERLANDS FIN SER 2 SR SEC BD

            	
              6.16

            	
              30-Aug-25

            	
              AXIOM

            	
                       29,494,913

            	
                                29,500,000

            	
                           28,939,205

            
	
              30-Nov-09

            	
              705322AH8

            	
              PEDERNALES
      ELEC COOP INC 02 SER A 144A

            	
              4.093

            	
              15-Nov-12

            	
              IDSI

            	
                         4,899,142

            	
                                  4,899,142

            	
                            4,993,794

            
	
              30-Nov-09

            	
              99BLGE9A6

            	
              GEO
      GROUP INC (THE) TRNCH B TERM LOAN

            	
              2.29

            	
              24-Jan-14

            	
              OBROK

            	
                         2,974,609

            	
                                  2,971,884

            	
                            2,867,868

            
	
              30-Nov-09

            	
              58526#AN9

            	
              MEIJER
      FINANCE INC SR SEC NTS A4

            	
              8.04

            	
              01-Jun-12

            	
              AXIOM

            	
                         1,811,865

            	
                                  1,758,733

            	
                            1,924,265

            
	
              30-Nov-09

            	
              252398AC6

            	
              DFS
      FDG CORP 2005C SR SEC NT

            	
              6.038

            	
              15-Jun-10

            	
              AXIOM

            	
                         2,500,000

            	
                                  2,500,000

            	
                            2,513,900

            
	
              30-Nov-09

            	
              88713UAF3

            	
              TIMBERSTAR
      TR I 2006-1 CL E CMBS

            	
              6.5024

            	
              15-Oct-36

            	
              OBROK

            	
                       12,000,000

            	
                                12,000,000

            	
                           10,980,000

            
	
              30-Nov-09

            	
              90477#AA9

            	
              UNIFIRST
      CORP SER A SR NT

            	
              5.27

            	
              14-Jun-11

            	
              AXIOM

            	
                         8,676,090

            	
                                  9,000,000

            	
                            9,401,760

            
	
              30-Nov-09

            	
              909279R#0

            	
              UNITED
      AIRLINES INC TRNCH B TERM LOAN

            	
              2.375

            	
              01-Feb-14

            	
              OBROK

            	
                         3,048,604

            	
                                  4,183,333

            	
                            3,202,342

            
	
              30-Nov-09

            	
              73931@AB5

            	
              POWERCOR
      AUSTRALIA LLC SER B SR NT

            	
              4.9

            	
              12-Nov-16

            	
              AXIOM

            	
                       15,000,000

            	
                                15,000,000

            	
                           15,653,400

            
	
              30-Nov-09

            	
              74932#AB0

            	
              RC
      CEMENT HLDG SER B GTD SR NT

            	
              6.92

            	
              29-May-13

            	
              AXIOM

            	
                       12,000,000

            	
                                12,000,000

            	
                           12,857,880

            
	
              30-Nov-09

            	
              04249@AC5

            	
              ARMY
      AND AIR FORCE EXCH SVC SER C SR N

            	
              5.74

            	
              17-Jun-14

            	
              AXIOM

            	
                         6,000,000

            	
                                  6,000,000

            	
                            6,805,560

            
	
              30-Nov-09

            	
              25246@AA7

            	
              DHC
      LNL GWINNETT MED DEFEASANCE LLC NT

            	
              5.58

            	
              05-Aug-13

            	
              AXIOM

            	
                         5,949,808

            	
                                  5,949,808

            	
                            6,802,475

            
	
              30-Nov-09

            	
              252398AB8

            	
              DFS
      FDG CORP 2005B SR SEC NTS

            	
              6.369

            	
              15-Jun-12

            	
              AXIOM

            	
                       14,437,500

            	
                                14,437,500

            	
                           14,767,253

            
	
              30-Nov-09

            	
              67109@AA5

            	
              OWT
      HOMELITE ROYAL METCO FDG SER C GTD

            	
              7.17

            	
              22-Mar-12

            	
              AXIOM

            	
                         3,000,000

            	
                                  3,000,000

            	
                            3,258,420

            
	
              30-Nov-09

            	
              92964@AA7

            	
              WY
      GEORGIA SEC NTS

            	
              5.59

            	
              14-Sep-19

            	
              AXIOM

            	
                         6,737,734

            	
                                  7,000,000

            	
                            7,461,230

            
	
              30-Nov-09

            	
              63615#AB7

            	
              NATL
      FOOTBALL LEAGUE SER A SR NTS

            	
              6.56

            	
              15-Oct-17

            	
              AXIOM

            	
                       37,163,149

            	
                                36,929,905

            	
                           39,465,881

            
	
              30-Nov-09

            	
              29266RD#2

            	
              ENERGIZER
      HOLDINGS INC SR NTS SERIES A

            	
              4.25

            	
              30-Jun-13

            	
              AXIOM

            	
                         9,586,008

            	
                                10,000,000

            	
                           10,488,900

            
	
              30-Nov-09

            	
              15889#AA8

            	
              CHANDLER
      GFP LLC 5.72% CTL (CVS)

            	
              5.62

            	
              10-Sep-29

            	
              AXIOM

            	
                         2,523,349

            	
                                  2,523,349

            	
                            2,601,648

            
	
              30-Nov-09

            	
              90341WA*9

            	
              US
      AIRWAYS GROUP INC TRNCH LCC LN32644

            	
              2.785

            	
              23-Mar-14

            	
              OBROK

            	
                         2,545,490

            	
                                  2,555,000

            	
                            1,689,494

            
	
              30-Nov-09

            	
              86708*AA2

            	
              SUNBELT
      CHLOR ALKALI PTRSP SER G SR NT

            	
              7.23

            	
              22-Dec-17

            	
              AXIOM

            	
                         5,111,763

            	
                                  5,625,000

            	
                            4,931,213

            
	
              30-Nov-09

            	
              486606B@4

            	
              KAYNE
      ANDERSON MLP INV CO SER K SR NT

            	
              5.991

            	
              19-Jun-13

            	
              MANUL

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,749,000

            
	
              30-Nov-09

            	
              21864*AA9

            	
              CORDOVA
      FUNDING SR SEC NTS A-1 144A

            	
              8.64

            	
              15-Dec-19

            	
              AXIOM

            	
                         4,519,991

            	
                                  4,487,328

            	
                            4,149,432

            
	
              30-Nov-09

            	
              009344B@0

            	
              AIRCRAFT
      INDETEDNESS REPKG TR 98-2 A

            	
              9.65

            	
              02-Mar-13

            	
              AXIOM

            	
                         1,619,923

            	
                                  1,724,652

            	
                            1,788,120

            
	
              30-Nov-09

            	
              16724*AC5

            	
              CHICAGO
      BASEBALL HLDGS SER C SR SEC NT

            	
              7.17

            	
              15-Jan-22

            	
              AXIOM

            	
                         7,000,000

            	
                                  7,000,000

            	
                            6,882,470

            
	
              30-Nov-09

            	
              226829AA7

            	
              CROCKET
      COGENERATION SR SEC NT 144A

            	
              5.869

            	
              30-Mar-25

            	
              IDSI

            	
                       18,914,002

            	
                                20,056,102

            	
                           19,708,128

            
	
              30-Nov-09

            	
              25244#AA7

            	
              DHC
      JP COUNTRY VILLAGE DEV DEFEASANCE

            	
              5.91

            	
              01-Jun-24

            	
              AXIOM

            	
                         5,181,437

            	
                                  5,329,377

            	
                            6,447,480

            
	
              30-Nov-09

            	
              99BLHW9B3

            	
              HAWKER
      BEECHCRAFT INC TRNCH LC LN32708

            	
              2.1

            	
              26-Mar-14

            	
              OBROK

            	
                            132,979

            	
                                     132,979

            	
                               101,951

            
	
              30-Nov-09

            	
              72925#AJ6

            	
              PLUM
      CREEK TIMBERLANDS SER O SR NTS

            	
              6.18

            	
              21-Jan-13

            	
              AXIOM

            	
                       13,021,885

            	
                                13,175,649

            	
                           14,016,782

            
	
              30-Nov-09

            	
              78347@AA4

            	
              RUTTENBERG
      FAMILY (WALGREEN) 6.70% CTL

            	
              6.6

            	
              01-May-28

            	
              AXIOM

            	
                         2,858,424

            	
                                  2,858,424

            	
                            3,334,323

            
	
              30-Nov-09

            	
              81683RB@2

            	
              SEMINOLE
      INDIAN TRIBE OF FLORIDA TRNCH

            	
              2.125

            	
              05-Mar-14

            	
              OBROK

            	
                              80,848

            	
                                       80,848

            	
                                 74,987

            
	
              30-Nov-09

            	
              48562@AA5

            	
              KAR
      HLDGS INC TRNCH B (ADESA) TERM LOA

            	
              2.56

            	
              30-Dec-14

            	
              OBROK

            	
                         6,699,795

            	
                                  6,699,795

            	
                            6,205,685

            
	
              30-Nov-09

            	
              97181#KE2

            	
              WILMINGTON
      TR UPRR 2004A

            	
              5.85

            	
              24-Jun-24

            	
              AXIOM

            	
                         5,418,534

            	
                                  5,409,366

            	
                            5,932,128

            
	
              30-Nov-09

            	
              Q0455#AJ7

            	
              APT
      PIPELINE LTD SER E SR NT (USD SWAP

            	
              7.4

            	
              15-May-19

            	
              MANUL

            	
                       33,810,797

            	
                                37,183,937

            	
                           28,178,880

            
	
              30-Nov-09

            	
              62825RAA1

            	
              MUTUAL
      FUND FEE TR X 1999-3 ABS

            	
              8.67

            	
              31-Aug-10

            	
              MANUL

            	
                                    90

            	
                                  2,048,465

            	
                                 20,485

            
	
              30-Nov-09

            	
              707064AA9

            	
              PENGROWTH
      CORP SR NT

            	
              6.35

            	
              26-Jul-17

            	
              AXIOM

            	
                       21,978,711

            	
                                22,000,000

            	
                           23,452,220

            
	
              30-Nov-09

            	
              42823#AH6

            	
              HEWITT
      ASSOCIATES LLC SER F SR NT

            	
              6.57

            	
              21-Aug-15

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,438,400

            
	
              30-Nov-09

            	
              99BLCD9B0

            	
              CHS/COMMUNITY
      HEALTH SYSTEMS INC TRNCH

            	
              2.56

            	
              25-Jul-14

            	
              OBROK

            	
                         5,346,317

            	
                                  5,346,317

            	
                            4,890,757

            
	
              30-Nov-09

            	
              78443*AK7

            	
              SLBP
      HLDGS CORP SER C SR NT

            	
              8

            	
              30-Jun-16

            	
              MANUL

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,085,000

            
	
              30-Nov-09

            	
              56081#AC4

            	
              MAJOR
      LEAGUE BASEBALL TR TERM NT

            	
              4.88

            	
              16-Dec-13

            	
              AXIOM

            	
                       30,005,734

            	
                                30,125,000

            	
                           31,278,486

            
	
              30-Nov-09

            	
              795770AN6

            	
              SALTON
      SEA FUNDING CORP SR SEC BDS

            	
              7.475

            	
              30-Nov-18

            	
              IDSI

            	
                         9,657,707

            	
                                  9,677,831

            	
                           10,621,613

            
	
              30-Nov-09

            	
              99BLRS9A3

            	
              RSC
      HLDGS INC II/III/RENTAL SERV CORP

            	
              4.08

            	
              30-Nov-12

            	
              OBROK

            	
                         1,796,427

            	
                                  1,784,694

            	
                            1,624,072

            
	
              30-Nov-09

            	
              55474*AC5

            	
              MACLEAN-FOGG
      SER B SR SECD NTS

            	
              10.41

            	
              30-Jun-12

            	
              MANUL

            	
                         9,766,862

            	
                                10,000,000

            	
                            9,869,400

            
	
              30-Nov-09

            	
              88162FB@3

            	
              TETRA
      TECHNOLOGIES INC 2008-B SR NT

            	
              6.56

            	
              30-Apr-15

            	
              AXIOM

            	
                       27,000,000

            	
                                27,000,000

            	
                           29,014,470

            
	
              30-Nov-09

            	
              69350*AA9

            	
              PLT
      FIN LP ENHANCEMENT NT

            	
              1.25

            	
              09-Sep-99

            	
              MANUL

            	
                                    25

            	
                                  7,985,121

            	
                                 79,851

            
	
              30-Nov-09

            	
              335867H*1

            	
              FIRST
      OMNI BANK NA AMSOUTH TR 99 A-1 S

            	
              6.65

            	
              02-Jan-21

            	
              MANUL

            	
                            409,475

            	
                                     720,996

            	
                               720,996

            
	
              30-Nov-09

            	
              41168*AA0

            	
              HARDEE
      POWER PARTNERS SER A

            	
              7.8

            	
              01-Jul-12

            	
              AXIOM

            	
                         4,319,046

            	
                                  4,318,691

            	
                            4,563,777

            
	
              30-Nov-09

            	
              B6385#AC0

            	
              OMEGA
      PHARMA NV SER C GTD SR NT

            	
              5.86

            	
              28-Jul-14

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,688,900

            
	
              30-Nov-09

            	
              G2083#AA3

            	
              CHEMRING
      GRP PLC SR SEC NT

            	
              6.28

            	
              12-Nov-17

            	
              AXIOM

            	
                       14,000,000

            	
                                14,000,000

            	
                           15,272,880

            
	
              30-Nov-09

            	
              97181#CS0

            	
              WILMINGTON
      TR SER B NT BPAMOCPOL EQT95

            	
              7.97

            	
              01-Jan-17

            	
              AXIOM

            	
                         1,243,744

            	
                                  1,141,931

            	
                            1,310,308

            
	
              30-Nov-09

            	
              00171*AB9

            	
              AM
      GENERAL LLC TRNCH LC TERM LOAN

            	
              3

            	
              29-Sep-12

            	
              OBROK

            	
                            225,806

            	
                                     225,806

            	
                               213,387

            
	
              30-Nov-09

            	
              90073@AA9

            	
              TUSCARORA
      GAS TRANSMISSION SR SEC NT

            	
              7.13

            	
              21-Dec-10

            	
              AXIOM

            	
                       10,672,142

            	
                                10,578,750

            	
                           11,039,243

            
	
              30-Nov-09

            	
              D2736#AC3

            	
              FRITZ
      DRAXLMAIER SER C SR NT

            	
              5.22

            	
              07-Apr-11

            	
              AXIOM

            	
                       24,000,000

            	
                                24,000,000

            	
                           23,906,160

            
	
              30-Nov-09

            	
              29481#AA1

            	
              ERGON
      INC SR GTD NTS

            	
              7.18

            	
              31-May-11

            	
              AXIOM

            	
                         5,087,065

            	
                                  5,000,000

            	
                            5,170,250

            
	
              30-Nov-09

            	
              335867F*3

            	
              FIRST
      OMNI BANK NA ICX TR 98A-1 SER PD

            	
              6.65

            	
              02-Jul-20

            	
              MANUL

            	
                            398,823

            	
                                     697,950

            	
                               697,950

            
	
              30-Nov-09

            	
              97381WA@3

            	
              WINDSTREAM
      CORP TRNCH B1 TERM LOAN LN3

            	
              1.95

            	
              17-Jul-13

            	
              OBROK

            	
                         8,823,835

            	
                                  8,797,500

            	
                            8,318,036

            
	
              30-Nov-09

            	
              10468*AB0

            	
              BRADY
      CORP SER 2006A SR NT

            	
              5.3

            	
              14-Feb-16

            	
              AXIOM

            	
                       19,551,740

            	
                                20,000,000

            	
                           21,004,400

            
	
              30-Nov-09

            	
              42208#AA6

            	
              HD
      FINDLAY OH LANDLORD (HOME DEPOT)CTL

            	
              7.23

            	
              31-Aug-30

            	
              AXIOM

            	
                       29,840,000

            	
                                29,840,000

            	
                           35,042,604

            
	
              30-Nov-09

            	
              28257VAC6

            	
              EIRLES
      THREE LTD CL C SR SEC NT 144A

            	
              5.93

            	
              19-Dec-19

            	
              AXIOM

            	
                       50,136,809

            	
                                50,000,000

            	
                           52,354,500

            
	
              30-Nov-09

            	
              97181#KG7

            	
              WILMINGTON
      TR UPRR 2004-G

            	
              5.85

            	
              29-Mar-24

            	
              AXIOM

            	
                         6,421,903

            	
                                  6,411,101

            	
                            7,039,389

            
	
              30-Nov-09

            	
              88713UAD8

            	
              TIMBERSTAR
      TR I 2006-1 CL C CMBS

            	
              5.8842

            	
              15-Oct-36

            	
              IDSI

            	
                         5,000,000

            	
                                  5,000,000

            	
                            4,500,000

            
	
              30-Nov-09

            	
              52465#AF2

            	
              LEGG
      MASON MTG CAP TR RITE AID 8 98-6

            	
              7.13

            	
              10-Jan-21

            	
              AXIOM

            	
                       13,088,258

            	
                                16,257,292

            	
                           14,278,455

            
	
              30-Nov-09

            	
              74731@BH1

            	
              QUAD/GRAPHICS
      INC SER 98-9 TRANCHE B

            	
              7.03

            	
              11-Dec-13

            	
              AXIOM

            	
                       12,240,000

            	
                                12,240,000

            	
                           12,309,890

            
	
              30-Nov-09

            	
              29266RK#4

            	
              ENERGIZER
      HOLDINGS INC SER 2007-D SR N

            	
              6.23

            	
              15-Oct-14

            	
              AXIOM

            	
                       20,500,000

            	
                                20,500,000

            	
                           23,113,135

            
	
              30-Nov-09

            	
              97786#AB8

            	
              WOLSELEY
      SR NTS

            	
              4.79

            	
              16-Nov-10

            	
              AXIOM

            	
                         7,947,988

            	
                                  8,000,000

            	
                            8,073,120

            
	
              30-Nov-09

            	
              23338*AA3

            	
              DR
      LEASE TRUST 97 CL-A WALMART CTL

            	
              7.52

            	
              15-Jan-17

            	
              AXIOM

            	
                         1,945,523

            	
                                  1,836,885

            	
                            2,160,398

            
	
              30-Nov-09

            	
              03040#AH5

            	
              AMERICAN
      WATER CAP CORP SER G SR NT

            	
              6.25

            	
              15-May-18

            	
              AXIOM

            	
                         3,000,000

            	
                                  3,000,000

            	
                            3,240,600

            
	
              30-Nov-09

            	
              Q3629#AE3

            	
              ETSA
      UTILS FIN PTY LTD SER C GTD SR NT

            	
              6.31

            	
              16-Sep-19

            	
              AXIOM

            	
                       19,780,000

            	
                                20,000,000

            	
                           21,733,600

            
	
              30-Nov-09

            	
              D8282#AA2

            	
              SURTECO
      AG SER C SR NT

            	
              5.7025

            	
              16-Aug-19

            	
              MANUL

            	
                       26,959,830

            	
                                18,000,000

            	
                           22,168,543

            
	
              30-Nov-09

            	
              89407#AA6

            	
              TRANSWESTERN
      PIPELINE SER A SR UNSC NT

            	
              5.39

            	
              17-Nov-14

            	
              AXIOM

            	
                       27,021,247

            	
                                27,000,000

            	
                           28,451,520

            
	
              30-Nov-09

            	
              67109*AA7

            	
              OWT
      HOMELITE ROYAL FDG TR SER A GTD SR

            	
              6.09

            	
              30-Jun-10

            	
              AXIOM

            	
                       25,000,000

            	
                                25,000,000

            	
                           25,499,750

            
	
              30-Nov-09

            	
              97180*US5

            	
              WILMINGTON/TUCSON
      ELEC SER C-2

            	
              10.73239

            	
              01-Jan-13

            	
              AXIOM

            	
                         1,289,245

            	
                                  1,278,995

            	
                            1,398,069

            
	
              30-Nov-09

            	
              24713@AD8

            	
              DELOITTE
      & TOUCHE USA LLP GTD SER D NT

            	
              6.99

            	
              20-Nov-21

            	
              AXIOM

            	
                         7,500,000

            	
                                  7,500,000

            	
                            7,964,400

            
	
              30-Nov-09

            	
              16166#AB8

            	
              CHASKA
      CAPITAL CORP SEC EQ NT (TR2)

            	
              6.97

            	
              01-Apr-11

            	
              AXIOM

            	
                            192,265

            	
                                     192,265

            	
                               205,256

            
	
              30-Nov-09

            	
              879369D#0

            	
              TELEFLEX
      INC SER B SR NT

            	
              7.94

            	
              01-Oct-14

            	
              AXIOM

            	
                         9,001,841

            	
                                  9,000,000

            	
                            9,870,390

            
	
              30-Nov-09

            	
              X4761*AB1

            	
              LANDSBANKI
      ISLANDS HF 2006-1 TR A SR N

            	
              5.74

            	
              30-Mar-11

            	
              MANUL

            	
                         1,400,000

            	
                                28,000,000

            	
                            1,400,000

            
	
              30-Nov-09

            	
              Q5995#AA2

            	
              MERIDIAN
      ENERGY LTD SER 2004-1 TR A SR

            	
              4.64

            	
              29-Apr-12

            	
              AXIOM

            	
                       35,000,000

            	
                                35,000,000

            	
                           35,991,550

            
	
              30-Nov-09

            	
              82894*AR8

            	
              JR
      SIMPLOT COMPANY SR U/S NTS

            	
              7.92

            	
              03-Apr-12

            	
              AXIOM

            	
                         5,114,979

            	
                                  5,000,000

            	
                            5,620,100

            
	
              30-Nov-09

            	
              74731@AV1

            	
              QUAD/GRAPHICS
      INC SR SEC NTS 1998 4 TR

            	
              6.91

            	
              24-Apr-18

            	
              AXIOM

            	
                         1,620,520

            	
                                  1,700,000

            	
                            1,652,876

            
	
              30-Nov-09

            	
              009344A*3

            	
              AIRCRAFT
      INDEBTEDNESS REPKG TR 98-1 A

            	
              9.52

            	
              11-Feb-13

            	
              AXIOM

            	
                         3,225,823

            	
                                  3,430,184

            	
                            3,553,362

            
	
              30-Nov-09

            	
              87275*AA3

            	
              TRT
      HLDGS SER A SR SEC NT

            	
              5.24

            	
              07-Nov-10

            	
              AXIOM

            	
                         9,800,000

            	
                                  9,800,000

            	
                            9,810,682

            
	
              30-Nov-09

            	
              421924B*1

            	
              HEALTHSOUTH
      CORP TRNCH B TERM LOAN

            	
              2.54

            	
              10-Mar-13

            	
              OBROK

            	
                         2,937,326

            	
                                  2,937,326

            	
                            2,770,280

            
	
              30-Nov-09

            	
              25087*AB9

            	
              DETROIT
      INTL BRIDGE CO SER A-2 SR SEC

            	
              6.28

            	
              02-Sep-17

            	
              AXIOM

            	
                       21,390,000

            	
                                21,500,000

            	
                           24,881,090

            
	
              30-Nov-09

            	
              39843#AE5

            	
              GRIFOLS
      INC GTD SER E SR GTD NT

            	
              7.14

            	
              07-Oct-21

            	
              AXIOM

            	
                       34,000,000

            	
                                34,000,000

            	
                           35,298,120

            
	
              30-Nov-09

            	
              C7208#AE8

            	
              PENGROWTH
      CORP SER A SR NT

            	
              6.98

            	
              21-Aug-18

            	
              AXIOM

            	
                       19,930,000

            	
                                20,000,000

            	
                           22,009,600

            
	
              30-Nov-09

            	
              25241*AA4

            	
              DHC
      JP LERAY HSG DEFEASANCE LLC NT

            	
              8.63

            	
              15-Nov-10

            	
              AXIOM

            	
                         1,092,374

            	
                                  1,052,214

            	
                            1,115,031

            
	
              30-Nov-09

            	
              89676AAN3

            	
              TRITON
      CONTAINER FIN 2006-1A SEC FLTG

            	
              0.455

            	
              26-Nov-21

            	
              MANUL

            	
                         8,456,120

            	
                                13,592,393

            	
                           13,022,871

            
	
              30-Nov-09

            	
              89838@AB5

            	
              TRSTES
      EST JAMES CAMPBELL SER B SR NT

            	
              5.58

            	
              30-Sep-14

            	
              AXIOM

            	
                       26,801,054

            	
                                27,000,000

            	
                           28,465,830

            
	
              30-Nov-09

            	
              G2624@AD5

            	
              DAIRY
      CREST GRP PLC SER A SR EURO NTS

            	
              4.735

            	
              04-Apr-14

            	
              MANUL

            	
                       34,298,895

            	
                                22,900,000

            	
                           35,560,565

            
	
              30-Nov-09

            	
              G3651#AB1

            	
              QUINN
      GRP LTD SER B SR GTD NT

            	
              5.4

            	
              13-Oct-12

            	
              AXIOM

            	
                       30,000,000

            	
                                30,000,000

            	
                           30,777,600

            
	
              30-Nov-09

            	
              97181#CY7

            	
              WILM'TN
      TR SER C (BPASSUMPSOLVAY95)

            	
              8.01

            	
              01-Jul-18

            	
              AXIOM

            	
                         1,753,540

            	
                                  1,572,902

            	
                            1,946,860

            
	
              30-Nov-09

            	
              97629#AA1

            	
              WINTHROP
      INC PROP 1ST (HAVERTY) MTG

            	
              10.6

            	
              01-Jan-11

            	
              AXIOM

            	
                         1,056,147

            	
                                  1,010,036

            	
                            1,022,894

            
	
              30-Nov-09

            	
              51157*AA2

            	
              LAKEHEAD
      PIPELINE FMB

            	
              9.15

            	
              15-Dec-11

            	
              AXIOM

            	
                         1,239,056

            	
                                  1,200,000

            	
                            1,283,304

            
	
              30-Nov-09

            	
              33604*AA9

            	
              FIRST
      PARTNERS LP IV MANHEIM PA CAP

            	
              6.7471

            	
              01-Jan-10

            	
              AXIOM

            	
                            111,276

            	
                                     111,247

            	
                               114,204

            
	
              30-Nov-09

            	
              00171*AA1

            	
              AM
      GENERAL LLC TRNCH B TERM LOAN

            	
              3.28063

            	
              29-Sep-13

            	
              OBROK

            	
                         5,363,292

            	
                                  5,363,292

            	
                            5,068,311

            
	
              30-Nov-09

            	
              71880*AD8

            	
              PHL
      FUNDING I INC SER A5

            	
              9.25

            	
              20-Jul-16

            	
              AXIOM

            	
                         2,257,870

            	
                                  2,036,455

            	
                            2,337,851

            
	
              30-Nov-09

            	
              335867F#9

            	
              FIRST
      OMNI BANK NA AMSOUTH TR 99 A-1 S

            	
              6.65

            	
              02-Jan-21

            	
              MANUL

            	
                         1,406,436

            	
                                  2,473,291

            	
                            2,473,291

            
	
              30-Nov-09

            	
              24713@AE6

            	
              DELOITTE
      & TOUCHE USA LLP SER E GTD NT

            	
              7.33

            	
              20-Nov-26

            	
              AXIOM

            	
                       18,033,031

            	
                                17,500,000

            	
                           18,672,325

            
	
              30-Nov-09

            	
              89407#AB4

            	
              TRANSWESTERN
      PIPELINE SERIES B SR NTS

            	
              5.54

            	
              17-Nov-16

            	
              AXIOM

            	
                         4,002,758

            	
                                  4,000,000

            	
                            4,153,120

            
	
              30-Nov-09

            	
              74732@AF5

            	
              QUAD/GRAPHICS
      TR F 2006-1 SR SEC NTS

            	
              6.49

            	
              14-Apr-36

            	
              AXIOM

            	
                         1,000,000

            	
                                  1,000,000

            	
                               717,770

            
	
              30-Nov-09

            	
              16724*AB7

            	
              CHICAGO
      BASEBALL HLDGS SER B SR SEC NT

            	
              7.02

            	
              15-Jan-20

            	
              AXIOM

            	
                       15,000,000

            	
                                15,000,000

            	
                           15,110,700

            
	
              30-Nov-09

            	
              879369D@2

            	
              TELEFLEX
      INC SER A SR NT

            	
              7.62

            	
              01-Oct-12

            	
              AXIOM

            	
                         6,001,959

            	
                                  6,000,000

            	
                            6,449,460

            
	
              30-Nov-09

            	
              23327@AA4

            	
              DFA
      PFD CAP TR I CUM GTD PFD SECS

            	
              7.38

            	
              02-Oct-12

            	
              AXIOM

            	
                       19,203,989

            	
                                19,200,000

            	
                           20,820,864

            
	
              30-Nov-09

            	
              13810@AA9

            	
              CANTERBURY
      APTS KALAMAZOO LP GTD PART

            	
              6.25

            	
              19-Jun-14

            	
              MANUL

            	
                            853,909

            	
                                     839,649

            	
                               860,640

            
	
              30-Nov-09

            	
              74732@AB4

            	
              QUAD/GRAPHICS
      TR B 2006-1 SR SEC NTS

            	
              6.29

            	
              30-Jan-31

            	
              AXIOM

            	
                            500,000

            	
                                     500,000

            	
                               369,010

            
	
              30-Nov-09

            	
              980888B*1

            	
              WOOLWORTHS
      NTS

            	
              5.41

            	
              26-Apr-20

            	
              AXIOM

            	
                         5,611,853

            	
                                  6,000,000

            	
                            6,469,200

            
	
              30-Nov-09

            	
              86708*AB0

            	
              SUNBELT
      CHLOR ALKALI PTRSP SER 0 SR NT

            	
              7.23

            	
              22-Dec-17

            	
              AXIOM

            	
                         5,542,913

            	
                                  5,625,000

            	
                            5,824,238

            
	
              30-Nov-09

            	
              60527TA*5

            	
              MISSISSIPPI
      BUS FIN CO SER 99A SR SEC

            	
              7.13

            	
              20-Oct-21

            	
              AXIOM

            	
                       19,244,489

            	
                                19,000,000

            	
                           23,063,910

            
	
              30-Nov-09

            	
              88642@AA5

            	
              TIDEWATER
      INC SER A SR NTS

            	
              3.91

            	
              30-Jul-10

            	
              AXIOM

            	
                         4,940,025

            	
                                  5,000,000

            	
                            5,073,200

            
	
              30-Nov-09

            	
              55068#AF6

            	
              LUXOTTICA
      U.S. HLDGS SER C SR GTD NT

            	
              6.77

            	
              01-Jul-18

            	
              AXIOM

            	
                       13,000,000

            	
                                13,000,000

            	
                           14,738,880

            
	
              30-Nov-09

            	
              V1040#AB8

            	
              BEZON
      SHIPPING/MICHSON 2006-B SR SEC

            	
              6.09

            	
              15-Jun-16

            	
              AXIOM

            	
                       29,000,000

            	
                                29,000,000

            	
                           31,493,130

            
	
              30-Nov-09

            	
              62826WAA9

            	
              MUTUAL
      FUND FEE TRUST IX SER 99-2 ABS

            	
              8.28

            	
              01-May-07

            	
              MANUL

            	
                              21,768

            	
                                  2,434,475

            	
                                        -

            
	
              30-Nov-09

            	
              29266RK*8

            	
              ENERGIZER
      HOLDINGS INC SER 2007-B SR N

            	
              6.01

            	
              15-Oct-12

            	
              AXIOM

            	
                         8,500,000

            	
                                  8,500,000

            	
                            9,325,860

            
	
              30-Nov-09

            	
              75935@AC4

            	
              REINALT-THOMAS
      CORP SR U/S NTS

            	
              7

            	
              28-Mar-12

            	
              AXIOM

            	
                         2,166,078

            	
                                  2,142,849

            	
                            2,309,777

            
	
              30-Nov-09

            	
              48335#AA9

            	
              KALAELOA
      PARTNERS L P SR SECD NT

            	
              9.72

            	
              31-Mar-14

            	
              AXIOM

            	
                         6,843,995

            	
                                  6,530,720

            	
                            7,352,938

            
	
              30-Nov-09

            	
              29266RF#0

            	
              ENERGIZER
      HLDGS INC SER 2004-C SR NT

            	
              4.38

            	
              09-Nov-11

            	
              AXIOM

            	
                         2,000,000

            	
                                  2,000,000

            	
                            2,085,940

            
	
              30-Nov-09

            	
              20715MAB1

            	
              CONFEDERATED
      TRIBES 144A 2006B NTS

            	
              9.75

            	
              01-Nov-20

            	
              AXIOM

            	
                       15,000,000

            	
                                15,000,000

            	
                           14,053,500

            
	
              30-Nov-09

            	
              C4862#AA0

            	
              ISLAND
      TIMBERLAND GTD SECD NT SER A

            	
              5.57

            	
              30-Aug-15

            	
              AXIOM

            	
                         2,949,706

            	
                                  3,000,000

            	
                            3,136,530

            
	
              30-Nov-09

            	
              711123B*9

            	
              PEOPLES
      GAS LT & COKE SER UU 1ST & REF

            	
              4.63

            	
              01-Sep-19

            	
              AXIOM

            	
                       18,000,000

            	
                                18,000,000

            	
                           18,053,100

            
	
              30-Nov-09

            	
              74732@AE8

            	
              QUAD/GRAPHICS
      TR E 2006-1 SR SEC NTS

            	
              6.29

            	
              14-Apr-31

            	
              AXIOM

            	
                            500,000

            	
                                     500,000

            	
                               367,985

            
	
              30-Nov-09

            	
              87266@AA2

            	
              TPC
      FUNDING LLC NKA OGPA FDG SEC NTS

            	
              7.73

            	
              31-Jul-15

            	
              AXIOM

            	
                         4,110,999

            	
                                  3,926,954

            	
                            4,314,976

            
	
              30-Nov-09

            	
              G1418#AD5

            	
              CARIBBEAN
      UTILITIES AMENDED & RESTATED

            	
              8.47

            	
              01-Jun-10

            	
              AXIOM

            	
                            715,194

            	
                                     708,800

            	
                               730,206

            
	
              30-Nov-09

            	
              97180*UT3

            	
              WILMINGTON/TUCSON
      ELEC SER C-3

            	
              10.73239

            	
              01-Jan-12

            	
              AXIOM

            	
                            662,482

            	
                                     658,595

            	
                               706,732

            
	
              30-Nov-09

            	
              98978#AA6

            	
              ZUFFA
      LLC TRNCH B TERM LOAN LN338922

            	
              2.375

            	
              18-Jun-15

            	
              OBROK

            	
                         1,955,000

            	
                                  1,955,000

            	
                            1,759,500

            
	
              30-Nov-09

            	
              25242@AA1

            	
              DHC
      JP CTRY VLG ACQ DEFEASANCE LLC NT

            	
              5.62

            	
              01-Jan-31

            	
              AXIOM

            	
                         6,652,238

            	
                                  7,050,962

            	
                            8,392,619

            
	
              30-Nov-09

            	
              928457AC4

            	
              VITA
      CAPITAL II LTD NTS 144A/3C7

            	
              2.18969

            	
              01-Jan-10

            	
              IDCBR

            	
                       18,965,636

            	
                                19,000,000

            	
                           18,929,700

            
	
              30-Nov-09

            	
              Q7397#AE4

            	
              PRATT
      FIN PROPRIETARY LTD SER E SR NTS

            	
              8.12

            	
              23-May-16

            	
              AXIOM

            	
                       20,898,165

            	
                                19,000,000

            	
                           22,166,350

            
	
              30-Nov-09

            	
              P7883#AF3

            	
              PHOENIX
      GAS PROCESSORS LTD SR SEC NTS

            	
              5.28

            	
              01-Apr-17

            	
              AXIOM

            	
                         8,095,653

            	
                                  8,095,653

            	
                            8,536,542

            
	
              30-Nov-09

            	
              G7895#AA0

            	
              SCOTTISH
      & NEWCASTLE PLC SER A SR NTS

            	
              4.83

            	
              05-Dec-09

            	
              AXIOM

            	
                       28,998,534

            	
                                29,000,000

            	
                           29,014,500

            
	
              30-Nov-09

            	
              008548AF6

            	
              AGUA
      CALIENTE BAND CAHUILLA SER B SR S

            	
              6.51

            	
              01-Oct-21

            	
              AXIOM

            	
                         4,039,553

            	
                                  4,000,000

            	
                            3,315,400

            
	
              30-Nov-09

            	
              74151#AH1

            	
              PRICEWATERHOUSECOOPERS
      SER K SR NT

            	
              6.94

            	
              27-Aug-19

            	
              AXIOM

            	
                       31,150,000

            	
                                31,000,000

            	
                           33,434,120

            
	
              30-Nov-09

            	
              63730*AA3

            	
              NATIONAL
      RAILROAD PASS CORP GE LEASE G

            	
              8.48

            	
              30-Jun-11

            	
              AXIOM

            	
                            191,348

            	
                                     183,231

            	
                               204,403

            
	
              30-Nov-09

            	
              233244AH5

            	
              DOT
      HDQTRS LS BK MTG FIN TR A-2 144A

            	
              5.594

            	
              07-Dec-21

            	
              MANUL

            	
                         7,390,472

            	
                                  7,390,452

            	
                            7,433,240

            
	
              30-Nov-09

            	
              Y6937*AA6

            	
              P T
      JAWA POWER SR SEC NTS

            	
              9.3

            	
              15-Jan-11

            	
              AXIOM

            	
                         3,045,000

            	
                                  3,045,000

            	
                            3,122,800

            
	
              30-Nov-09

            	
              23406#AA6

            	
              DAK
      AMERICAS (GRUPO PETROTEMEX) GTD SR

            	
              6.85

            	
              23-Jun-14

            	
              AXIOM

            	
                         6,428,571

            	
                                  6,428,571

            	
                            6,490,221

            
	
              30-Nov-09

            	
              64244*AA0

            	
              NEW
      BOSTON GARDEN CORP SR SEC(DEL NO)

            	
              8.45

            	
              22-Sep-15

            	
              AXIOM

            	
                       10,340,992

            	
                                10,370,320

            	
                           10,656,748

            
	
              30-Nov-09

            	
              784010AA8

            	
              SCL
      TERMINAL AEREO SANTIAGO SR SECD

            	
              6.95

            	
              01-Jul-12

            	
              IDSI

            	
                         7,732,288

            	
                                  7,733,334

            	
                            7,577,816

            
	
              30-Nov-09

            	
              46648@AL3

            	
              J M
      HUBER CORP SER A SR NTS

            	
              5.71

            	
              06-Jan-14

            	
              AXIOM

            	
                       12,860,021

            	
                                13,000,000

            	
                           12,032,800

            
	
              30-Nov-09

            	
              81683RAJ3

            	
              SEMINOLE
      TRIBE FL 2007B TXBL OBLIG 144

            	
              7.804

            	
              01-Oct-20

            	
              AXIOM

            	
                       23,366,921

            	
                                23,350,000

            	
                           26,590,980

            
	
              30-Nov-09

            	
              D1769@AA1

            	
              DEUTSCHE
      BORSE AG SER A SR NT

            	
              5.52

            	
              12-Jun-15

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           21,307,000

            
	
              30-Nov-09

            	
              07783@AA4

            	
              BELK
      INC NTS SER A

            	
              5.05

            	
              12-Jul-12

            	
              MANUL

            	
                         4,748,380

            	
                                  5,000,000

            	
                            5,141,000

            
	
              30-Nov-09

            	
              908594A*5

            	
              UNION
      TANK CAR COMPANY SR SEC'D NTS

            	
              6.82

            	
              01-Jun-16

            	
              MANUL

            	
                         3,448,167

            	
                                  3,292,802

            	
                            3,893,738

            
	
              30-Nov-09

            	
              33903*DH9

            	
              FLEET
      NATIONAL BANK NOVA CHEM-LESSEE

            	
              7.86

            	
              27-Sep-16

            	
              AXIOM

            	
                         4,528,991

            	
                                  4,818,493

            	
                            4,886,241

            
	
              30-Nov-09

            	
              00855LAC3

            	
              AGUA
      CALIENTE BAND CAHUILLA SER 2008 S

            	
              6.35

            	
              01-Oct-15

            	
              AXIOM

            	
                         4,000,000

            	
                                  4,000,000

            	
                            3,588,000

            
	
              30-Nov-09

            	
              87277@AA9

            	
              TPF
      GENERATION HLDGS LLC TRNCH B TERM

            	
              2.31

            	
              15-Dec-13

            	
              OBROK

            	
                         1,230,151

            	
                                  1,227,938

            	
                            1,163,471

            
	
              30-Nov-09

            	
              C3322#AE8

            	
              ENERMARK
      INC SER C SR NT

            	
              7.97

            	
              18-Jun-21

            	
              AXIOM

            	
                       35,000,000

            	
                                35,000,000

            	
                           41,611,150

            
	
              30-Nov-09

            	
              Q9194#AL9

            	
              TRANSURBAN
      FIN CO PTY SER D 2006-1 DEF

            	
              6.06

            	
              14-Nov-26

            	
              AXIOM

            	
                       26,679,978

            	
                                28,707,372

            	
                           31,782,793

            
	
              30-Nov-09

            	
              Q0455#AH1

            	
              APT
      PIPELINES LIMITED SER D USD SR NT

            	
              5.99

            	
              15-May-19

            	
              AXIOM

            	
                       32,000,000

            	
                                32,000,000

            	
                           32,690,880

            
	
              30-Nov-09

            	
              55068#AE9

            	
              LUXOTTICA
      U.S. HLDGS SER B SR GTD NT

            	
              6.42

            	
              01-Jul-15

            	
              AXIOM

            	
                       12,000,000

            	
                                12,000,000

            	
                           13,442,400

            
	
              30-Nov-09

            	
              97786#AD4

            	
              WOLSELEY
      SR NTS

            	
              5.05

            	
              16-Nov-15

            	
              AXIOM

            	
                         9,730,225

            	
                                10,000,000

            	
                            9,561,000

            
	
              30-Nov-09

            	
              N6704@AD1

            	
              OILTANKING
      FIN BV SER B SR NT

            	
              7.69

            	
              31-Aug-21

            	
              AXIOM

            	
                       16,105,825

            	
                                16,000,000

            	
                           18,472,000

            
	
              30-Nov-09

            	
              94978#FF9

            	
              WELLS
      FARGO CTF BARBADOS CORR 2006 A&B

            	
              7.54

            	
              15-Jan-32

            	
              MANUL

            	
                       45,127,209

            	
                                45,127,209

            	
                           45,600,445

            
	
              30-Nov-09

            	
              G4551#AC8

            	
              HOLCIM
      CAP CORP LTD SR GTD NT

            	
              7.05

            	
              28-Aug-11

            	
              AXIOM

            	
                       30,390,526

            	
                                30,000,000

            	
                           31,812,600

            
	
              30-Nov-09

            	
              D3141#AB2

            	
              HAUS
      CRAMER HLDG KG SER B SR NT

            	
              6.33

            	
              10-May-16

            	
              AXIOM

            	
                       48,000,000

            	
                                48,000,000

            	
                           53,031,360

            
	
              30-Nov-09

            	
              33632*DJ3

            	
              FIRST
      SECURITY BK UTAH SEC LN CTF 89-

            	
              10.31

            	
              28-Mar-10

            	
              AXIOM

            	
                              70,951

            	
                                       68,114

            	
                                 70,198

            
	
              30-Nov-09

            	
              99BLA19A0

            	
              ALGOMA
      STEEL INC TERM LOAN LN344061

            	
              8

            	
              30-Jun-13

            	
              OBROK

            	
                         1,399,328

            	
                                  1,399,328

            	
                            1,318,867

            
	
              30-Nov-09

            	
              942749A@1

            	
              WATTS
      WATER TECHNOLOGIES SER B SR NT

            	
              5.47

            	
              15-May-13

            	
              AXIOM

            	
                         3,976,293

            	
                                  4,000,000

            	
                            4,164,680

            
	
              30-Nov-09

            	
              99BLTY9A8

            	
              TOYS
      R US TRNCH B TERM LOAN

            	
              4.5175

            	
              19-Jul-12

            	
              OBROK

            	
                         3,485,496

            	
                                  3,482,587

            	
                            3,359,617

            
	
              30-Nov-09

            	
              D9493#AB3

            	
              VOSSLOH
      AG SR U/S NTS

            	
              6.05

            	
              24-Jun-16

            	
              AXIOM

            	
                         9,893,693

            	
                                10,000,000

            	
                           11,037,300

            
	
              30-Nov-09

            	
              20444PAA4

            	
              COMPANIA
      DE DESARROLLO AERO ST SEC NTS

            	
              10.19

            	
              31-May-11

            	
              AXIOM

            	
                         1,650,000

            	
                                  1,650,000

            	
                            1,736,147

            
	
              30-Nov-09

            	
              29164#AA5

            	
              EMPIRE
      DISTRICT GAS CO FIRST MTG BDS

            	
              6.82

            	
              01-Jun-36

            	
              AXIOM

            	
                       47,000,000

            	
                                47,000,000

            	
                           49,711,430

            
	
              30-Nov-09

            	
              16166#AE2

            	
              CHASKA
      CAP CORP (TRANCHE 5) SECD EQ NT

            	
              7

            	
              01-Apr-11

            	
              AXIOM

            	
                              87,441

            	
                                       87,441

            	
                                 93,383

            
	
              30-Nov-09

            	
              24713@AC0

            	
              DELOITTE
      & TOUCHE USA LLP SER C GTD NT

            	
              6.59

            	
              20-Nov-16

            	
              AXIOM

            	
                         1,017,821

            	
                                  1,000,000

            	
                            1,079,280

            
	
              30-Nov-09

            	
              335867G*2

            	
              FIRST
      OMNI BANK NA AMSOUTH TR 99 A-1 S

            	
              6.65

            	
              02-Jan-21

            	
              MANUL

            	
                            651,780

            	
                                  1,137,606

            	
                            1,137,606

            
	
              30-Nov-09

            	
              X8687#AA1

            	
              STRAUMUR-BURDARAS
      INV BK SER A SR NT

            	
              7.24

            	
              29-Mar-11

            	
              MANUL

            	
                         5,512,500

            	
                                15,750,000

            	
                            5,512,500

            
	
              30-Nov-09

            	
              914906A#9

            	
              UNIVISION
      COMM INC TRNCH B TERM LOAN L

            	
              2.56875

            	
              28-Sep-14

            	
              OBROK

            	
                       10,465,878

            	
                                10,500,000

            	
                            8,620,500

            
	
              30-Nov-09

            	
              589497AA4

            	
              MEREY
      SWEENY LP/SWEENY FDG CORP SR BDS

            	
              8.85

            	
              18-Dec-19

            	
              IDSI

            	
                       38,179,715

            	
                                35,997,443

            	
                           40,979,130

            
	
              30-Nov-09

            	
              564905B*7

            	
              MAPLE
      LEAF FOODS INC SER F SR GTD NT

            	
              5.61

            	
              08-Dec-14

            	
              AXIOM

            	
                       14,225,695

            	
                                14,500,000

            	
                           15,437,715

            
	
              30-Nov-09

            	
              74042#AA9

            	
              PREFCO
      1X LTD PTSP SEC NTS BELL 144A

            	
              8.97

            	
              01-Jan-11

            	
              AXIOM

            	
                         1,480,345

            	
                                  1,447,676

            	
                            1,505,902

            
	
              30-Nov-09

            	
              70383#AC0

            	
              PAVESTONE
      SEC SER A

            	
              6.63

            	
              15-Jul-10

            	
              AXIOM

            	
                            946,625

            	
                                     950,602

            	
                               953,549

            
	
              30-Nov-09

            	
              99BLGW9A6

            	
              GREENWOOD
      RACING INC TERM LOAN LN30387

            	
              2.72

            	
              20-Oct-11

            	
              OBROK

            	
                         1,951,110

            	
                                  1,945,000

            	
                            1,857,475

            
	
              30-Nov-09

            	
              89365QAA2

            	
              TRANSGAS
      DE OCCIDENTE S A SR SEC NT

            	
              9.79

            	
              01-Nov-10

            	
              AXIOM

            	
                            424,956

            	
                                     424,424

            	
                               435,709

            
	
              30-Nov-09

            	
              94978#AH0

            	
              WELLS
      FARGO MTG SEC TR CVS DISTR CTRS

            	
              7.53

            	
              10-Jan-24

            	
              AXIOM

            	
                       14,131,850

            	
                                12,952,673

            	
                           15,392,179

            
	
              30-Nov-09

            	
              Q1403*AB9

            	
              BLUESCOPE
      STEEL (FINANCE) SER B SR GTD

            	
              5.74

            	
              01-Jul-14

            	
              AXIOM

            	
                       16,515,116

            	
                                17,000,000

            	
                           18,319,710

            
	
              30-Nov-09

            	
              91055@AC5

            	
              UNITED
      GROUP INV PARTNERSHIP SER C SR

            	
              6.91

            	
              24-Jun-18

            	
              AXIOM

            	
                       23,000,000

            	
                                23,000,000

            	
                           24,770,310

            
	
              30-Nov-09

            	
              D8211@AF9

            	
              SUD-CHEMIE
      FIN GMBH SER C SR GTD NT

            	
              5.88

            	
              30-Sep-16

            	
              AXIOM

            	
                         7,000,000

            	
                                  7,000,000

            	
                            7,123,060

            
	
              30-Nov-09

            	
              G1252@AA2

            	
              BORD
      GAIS EIREANN SER A SR NTS

            	
              4.58

            	
              22-Oct-10

            	
              AXIOM

            	
                       19,793,326

            	
                                20,000,000

            	
                           20,341,400

            
	
              30-Nov-09

            	
              26969PA*9

            	
              EAGLE
      MATERIALS TR A SR NT

            	
              5.25

            	
              15-Nov-12

            	
              AXIOM

            	
                         4,177,000

            	
                                  4,177,000

            	
                            4,359,869

            
	
              30-Nov-09

            	
              22004*AB6

            	
              CORPORATE
      TRINITY CO (CARGILL-

            	
              8.71

            	
              31-Aug-12

            	
              AXIOM

            	
                            355,647

            	
                                     355,558

            	
                               416,732

            
	
              30-Nov-09

            	
              99BLSF9A0

            	
              S&F
      STORES MERGER SUB LLC 1ST LIEN TRN

            	
              3.31

            	
              31-Dec-14

            	
              OBROK

            	
                         1,954,849

            	
                                  1,954,849

            	
                            1,752,034

            
	
              30-Nov-09

            	
              688239B@0

            	
              OSHKOSH
      TRUCK CORP TRNCH B TERM LOAN L

            	
              6.64

            	
              06-Dec-13

            	
              OBROK

            	
                         1,471,292

            	
                                  1,463,538

            	
                            1,457,143

            
	
              30-Nov-09

            	
              N4661#AC7

            	
              ISTELLO
      HLDG BV SER A SR GTD NT

            	
              9.5

            	
              01-Apr-16

            	
              AXIOM

            	
                       10,586,155

            	
                                16,991,156

            	
                           10,407,933

            
	
              30-Nov-09

            	
              G3651#AJ4

            	
              QUINN
      GROUP LTD SER C SR NT

            	
              5.87

            	
              03-Apr-17

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            4,918,650

            
	
              30-Nov-09

            	
              10510@AA8

            	
              BRAMBLES
      USA SER A GTD SR NT

            	
              5.39

            	
              04-Aug-11

            	
              AXIOM

            	
                       24,000,000

            	
                                24,000,000

            	
                           24,928,080

            
	
              30-Nov-09

            	
              G4588#AT8

            	
              INTERMEDIATE
      CAPITAL GRP PLC SER B NT

            	
              6.5

            	
              28-Feb-14

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           18,842,800

            
	
              30-Nov-09

            	
              G2614#AB9

            	
              DCC
      FUNDING 2007 LTD NV SER B GTD SR N

            	
              6.19

            	
              11-Jul-19

            	
              AXIOM

            	
                       28,000,000

            	
                                28,000,000

            	
                           30,733,080

            
	
              30-Nov-09

            	
              574754AB3

            	
              MASHANTUCKET
      WESTERN PEQUOT TRIBE TXBL

            	
              6.57

            	
              01-Sep-13

            	
              AXIOM

            	
                         5,267,406

            	
                                  5,299,998

            	
                            5,168,770

            
	
              30-Nov-09

            	
              883199B*1

            	
              TEXTRON
      FINANCIAL CORP SER B SR NT

            	
              4.59

            	
              14-Sep-17

            	
              MANUL

            	
                       12,631,579

            	
                                12,631,579

            	
                           11,014,737

            
	
              30-Nov-09

            	
              58526#AJ8

            	
              MEIJER
      FINANCE INC SR SEC NTS A3

            	
              8.04

            	
              01-Jun-12

            	
              AXIOM

            	
                         1,883,843

            	
                                  1,828,600

            	
                            2,000,708

            
	
              30-Nov-09

            	
              81683RB*4

            	
              SEMINOLE
      INDIAN TRIBE OF FLORIDA TRNCH

            	
              2.125

            	
              05-Mar-14

            	
              OBROK

            	
                              22,439

            	
                                       22,439

            	
                                 20,812

            
	
              30-Nov-09

            	
              N2962#AD5

            	
              ENECO
      HOLDING NV SER D SR NT

            	
              4.905

            	
              28-Mar-22

            	
              MANUL

            	
                       22,466,525

            	
                                15,000,000

            	
                           20,718,854

            
	
              30-Nov-09

            	
              34486@AA8

            	
              FOOTBALL
      CLUB TERM NTS 2015 TR

            	
              5.24

            	
              05-Nov-15

            	
              AXIOM

            	
                         4,799,335

            	
                                  5,000,000

            	
                            5,094,000

            
	
              30-Nov-09

            	
              29266RG#9

            	
              ENERGIZER
      HOLDINGS INC SR NTS

            	
              5.09

            	
              29-Sep-12

            	
              AXIOM

            	
                         4,928,550

            	
                                  5,000,000

            	
                            5,355,550

            
	
              30-Nov-09

            	
              G1980#AA9

            	
              CAYMAN
      ISLAND GOVT NT

            	
              5.3

            	
              08-Apr-18

            	
              AXIOM

            	
                       19,833,335

            	
                                19,833,335

            	
                           20,002,513

            
	
              30-Nov-09

            	
              29266RL@5

            	
              ENERGIZER
      HOLDINGS INC SER 2007-F SR N

            	
              6.48

            	
              15-Oct-16

            	
              AXIOM

            	
                         9,000,000

            	
                                  9,000,000

            	
                           10,282,320

            
	
              30-Nov-09

            	
              23307#AC2

            	
              DB
      RREEF INDL PROP INC SER C GTD NT

            	
              5.67

            	
              08-Feb-16

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                            9,355,600

            
	
              30-Nov-09

            	
              G3651#AC9

            	
              QUINN
      GRP LTD SER C SR GTD NTS

            	
              5.58

            	
              13-Oct-15

            	
              AXIOM

            	
                       17,500,000

            	
                                17,500,000

            	
                           17,409,350

            
	
              30-Nov-09

            	
              05544NAC5

            	
              BHN
      IV MTG TRUST 144A CL AF SER 2000-1

            	
              8

            	
              31-Mar-11

            	
              MANUL

            	
                                    22

            	
                                  7,469,073

            	
                               298,763

            
	
              30-Nov-09

            	
              G1257*AB7

            	
              BOREALIS
      FUNDING CO LTD SER B GTD SR N

            	
              9.63

            	
              07-Jul-19

            	
              AXIOM

            	
                       22,628,000

            	
                                22,000,000

            	
                           28,071,780

            
	
              30-Nov-09

            	
              32485*AC1

            	
              FIRST
      NATL BANK OF COMMERCE SER C NT

            	
              12.03

            	
              01-May-14

            	
              AXIOM

            	
                         4,504,483

            	
                                  4,139,315

            	
                            5,110,357

            
	
              30-Nov-09

            	
              G3651#AG0

            	
              QUINN
      GROUP LTD SER A SR NT

            	
              5.62

            	
              03-Apr-12

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,154,900

            
	
              30-Nov-09

            	
              126624AC9

            	
              CVRD
      FIN LTD 144A NTS

            	
              8.926

            	
              15-Oct-10

            	
              IDSI

            	
                         3,299,469

            	
                                  3,299,469

            	
                            3,364,766

            
	
              30-Nov-09

            	
              94016#AA9

            	
              WASHINGTON
      10 GAS HOLDINGS INC SEC NT

            	
              7.238

            	
              30-Jun-29

            	
              AXIOM

            	
                         9,080,339

            	
                                  9,080,339

            	
                           10,201,125

            
	
              30-Nov-09

            	
              05577@AJ9

            	
              BTMU
      CAP CORP SER C (BNSF 2009-A)

            	
              6.55

            	
              26-Feb-21

            	
              AXIOM

            	
                         3,806,456

            	
                                  3,806,456

            	
                            4,377,425

            
	
              30-Nov-09

            	
              Q0455#AN8

            	
              APT
      PIPELINES LTD SERA GTD SR NT

            	
              8.35

            	
              01-Jul-16

            	
              AXIOM

            	
                       32,000,000

            	
                                32,000,000

            	
                           38,018,880

            
	
              30-Nov-09

            	
              33903*CW7

            	
              FLEET
      NATL BK-TRUSTEE BUNGE NA (EAST)

            	
              7.86

            	
              30-Mar-17

            	
              AXIOM

            	
                         2,293,314

            	
                                  2,273,841

            	
                            2,543,632

            
	
              30-Nov-09

            	
              58526#AA7

            	
              MEIJER
      FINANCE INC SR SEC NTS A1

            	
              8.04

            	
              01-Jun-12

            	
              AXIOM

            	
                         1,883,843

            	
                                  1,828,600

            	
                            2,000,708

            
	
              30-Nov-09

            	
              81371#AA5

            	
              SECURED
      LEASE FIN CORP (CIRCUIT CITY)

            	
              6.75

            	
              15-Sep-13

            	
              MANUL

            	
                            779,066

            	
                                     898,704

            	
                               449,352

            
	
              30-Nov-09

            	
              L7919*AB8

            	
              RELUXCO
      INTL SA SER B GTD SR NT

            	
              5.61

            	
              27-Mar-17

            	
              AXIOM

            	
                       32,000,000

            	
                                32,000,000

            	
                           31,671,360

            
	
              30-Nov-09

            	
              97181#KZ5

            	
              WILMINGTON
      TR UPRR 2005-B3

            	
              5.36

            	
              02-Jul-28

            	
              AXIOM

            	
                            343,698

            	
                                     377,981

            	
                               401,873

            
	
              30-Nov-09

            	
              N6510*AE5

            	
              NUTRECO
      HLDG NV SER B SR NT

            	
              7.87

            	
              08-Apr-16

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            6,034,250

            
	
              30-Nov-09

            	
              97180*LY2

            	
              WILMINGTON
      TR (CSX) SER B BNY-3 LEVD L

            	
              10.23

            	
              26-Jun-12

            	
              AXIOM

            	
                         1,109,710

            	
                                  1,064,181

            	
                            1,221,393

            
	
              30-Nov-09

            	
              99BLHA9A3

            	
              HANESBRANDS
      INC TRNCH B TERM LOAN

            	
              5.25375

            	
              30-Sep-13

            	
              OBROK

            	
                         2,207,765

            	
                                  2,193,598

            	
                            2,198,402

            
	
              30-Nov-09

            	
              92707#AA7

            	
              BDRE
      HUNTINGTON FKA VILLAGE DE WALGREE

            	
              7.88

            	
              01-Jul-18

            	
              AXIOM

            	
                         1,450,695

            	
                                  1,327,157

            	
                            1,593,517

            
	
              30-Nov-09

            	
              N2962#AA1

            	
              ENECO
      HOLDING NV SER A SR NT

            	
              4.62

            	
              28-Mar-14

            	
              MANUL

            	
                       28,457,598

            	
                                19,000,000

            	
                           28,403,297

            
	
              30-Nov-09

            	
              97180*UX4

            	
              WILMINGTON/TUCSON
      ELEC SER C-7

            	
              10.73239

            	
              01-Jan-13

            	
              AXIOM

            	
                         2,490,071

            	
                                  2,468,298

            	
                            2,712,042

            
	
              30-Nov-09

            	
              34487*AA9

            	
              FOOTBALL
      CLUB TERM NOTE 2018 TR CTF

            	
              6.11

            	
              12-Nov-18

            	
              AXIOM

            	
                       18,000,000

            	
                                18,000,000

            	
                           18,711,720

            
	
              30-Nov-09

            	
              G4588#AM3

            	
              INTERMEDIATE
      CAP GRP PLC SER D GTD SR

            	
              8.03

            	
              28-Jun-11

            	
              AXIOM

            	
                         7,000,000

            	
                                  7,000,000

            	
                            7,113,120

            
	
              30-Nov-09

            	
              Q2759#AJ6

            	
              CONSOLIDATED
      PRESS FIN LTD SER I GTD S

            	
              4.93

            	
              29-Apr-12

            	
              AXIOM

            	
                         1,875,000

            	
                                  1,875,000

            	
                            1,875,563

            
	
              30-Nov-09

            	
              74731@AF6

            	
              QUAD/GRAPHICS
      INC SR SEC SER 96-1 TR F

            	
              8.1

            	
              30-Sep-16

            	
              AXIOM

            	
                         2,582,274

            	
                                  2,386,364

            	
                            2,430,440

            
	
              30-Nov-09

            	
              48268@AG9

            	
              KPMG
      LLP SER 2008 SR NT

            	
              6.25

            	
              15-Jul-15

            	
              AXIOM

            	
                       45,069,034

            	
                                45,000,000

            	
                           47,590,650

            
	
              30-Nov-09

            	
              D6574*AA7

            	
              CLAAS
      KGAA MBH SR NT

            	
              5.76

            	
              27-Dec-14

            	
              AXIOM

            	
                       53,677,391

            	
                                53,800,000

            	
                           57,494,984

            
	
              30-Nov-09

            	
              58526#AE9

            	
              MEIJER
      FINANCE INC SR SEC NTS A2

            	
              8.04

            	
              01-Jun-12

            	
              AXIOM

            	
                         1,713,721

            	
                                  1,663,467

            	
                            1,820,032

            
	
              30-Nov-09

            	
              21864*AD3

            	
              CORDOVA
      FUNDING SR SEC NTS A4 144A WO

            	
              8.82

            	
              15-Dec-19

            	
              AXIOM

            	
                         2,842,311

            	
                                  2,788,933

            	
                            2,611,445

            
	
              30-Nov-09

            	
              25247#AA4

            	
              DHC
      LNL OAKMONT RET RES DEFEASANCE NT

            	
              5.64

            	
              10-Aug-26

            	
              AXIOM

            	
                         4,517,952

            	
                                  4,517,952

            	
                            5,333,217

            
	
              30-Nov-09

            	
              714046A@8

            	
              PERKINELMER
      INC SER 2008-A SR NT

            	
              6

            	
              30-May-15

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           21,666,600

            
	
              30-Nov-09

            	
              90781#AG7

            	
              UNION
      PACIFIC RAILROAD TR SER 2008-2

            	
              4.4

            	
              16-Jan-16

            	
              AXIOM

            	
                         6,963,874

            	
                                  6,963,874

            	
                            7,244,657

            
	
              30-Nov-09

            	
              N4281@BB0

            	
              KONINKLIJKE
      VOPAK NV SER N SR NT

            	
              5.89

            	
              19-Jun-17

            	
              AXIOM

            	
                         7,000,000

            	
                                  7,000,000

            	
                            7,392,770

            
	
              30-Nov-09

            	
              99BLPC9A0

            	
              PAETEC
      HLDGS CORP TRNCH B TERM LOAN LN

            	
              2.81875

            	
              28-Feb-13

            	
              OBROK

            	
                              61,473

            	
                                       61,035

            	
                                 57,576

            
	
              30-Nov-09

            	
              D8211@AE2

            	
              SUD-CHEMIE
      FIN GMBH SER B SR GTD NT

            	
              5.73

            	
              30-Sep-14

            	
              AXIOM

            	
                         7,000,000

            	
                                  7,000,000

            	
                            7,262,570

            
	
              30-Nov-09

            	
              20763#EF4

            	
              CONNECTICUT
      NATIONAL BANK-OWNE

            	
              8.86

            	
              30-Mar-11

            	
              AXIOM

            	
                         2,256,964

            	
                                  2,251,428

            	
                            2,385,523

            
	
              30-Nov-09

            	
              97180*SF6

            	
              WILMINGTON
      TR AIRBUS IND CTF-92 NW-D

            	
              9.03

            	
              29-Nov-14

            	
              AXIOM

            	
                            154,703

            	
                                     141,185

            	
                               165,124

            
	
              30-Nov-09

            	
              486606A*7

            	
              KAYNE
      ANDERSON MLP INV CO SER G SR NT

            	
              5.645

            	
              19-Jun-11

            	
              MANUL

            	
                       17,000,000

            	
                                17,000,000

            	
                           17,736,100

            
	
              30-Nov-09

            	
              46648@AP4

            	
              J M
      HUBER CORP SR NT

            	
              5.75

            	
              01-Feb-18

            	
              AXIOM

            	
                         7,257,890

            	
                                  7,500,000

            	
                            6,026,700

            
	
              30-Nov-09

            	
              Q5516@AC0

            	
              LEIGHTON
      FIN LTD SER C GTD SR NT

            	
              7.66

            	
              15-Oct-18

            	
              AXIOM

            	
                       30,000,000

            	
                                30,000,000

            	
                           33,607,200

            
	
              30-Nov-09

            	
              68210*AC7

            	
              OMEGA
      LEASING (US) LLC SR SEC NT

            	
              5.98

            	
              12-Jul-16

            	
              AXIOM

            	
                       19,681,026

            	
                                19,681,026

            	
                           21,842,002

            
	
              30-Nov-09

            	
              124900C*0

            	
              CCL
      INDUSTRIES INC SR GTD NT SER B

            	
              5.57

            	
              07-Mar-16

            	
              AXIOM

            	
                       11,832,548

            	
                                12,000,000

            	
                           12,550,920

            
	
              30-Nov-09

            	
              97786#AF9

            	
              WOLSELEY
      SR NTS

            	
              5.32

            	
              16-Nov-20

            	
              AXIOM

            	
                       14,149,498

            	
                                15,000,000

            	
                           13,044,600

            
	
              30-Nov-09

            	
              G2624@AB9

            	
              DAIRY
      CREST GROUP PLC SER B GTD SR NT

            	
              5.83

            	
              04-Apr-16

            	
              AXIOM

            	
                         8,000,000

            	
                                  8,000,000

            	
                            8,750,000

            
	
              30-Nov-09

            	
              89464#AA6

            	
              TWO
      LLC SR SEC

            	
              6.8

            	
              30-Jun-18

            	
              AXIOM

            	
                       17,060,411

            	
                                17,060,411

            	
                           18,109,797

            
	
              30-Nov-09

            	
              335867F@1

            	
              FIRST
      OMNI BANK NA NICHIMEN TR 98A-2 S

            	
              6.65

            	
              02-Jul-20

            	
              MANUL

            	
                            889,218

            	
                                  1,593,237

            	
                            1,593,237

            
	
              30-Nov-09

            	
              88642@AB3

            	
              TIDEWATER
      INC SER B SR NTS

            	
              4.16

            	
              30-Jul-11

            	
              AXIOM

            	
                         2,921,460

            	
                                  3,000,000

            	
                            3,105,990

            
	
              30-Nov-09

            	
              99BLSU9B5

            	
              SURGICAL
      CARE INC TRNCH B TERM LOAN LN

            	
              3.22

            	
              29-Dec-14

            	
              OBROK

            	
                         1,955,000

            	
                                  1,955,000

            	
                            1,796,156

            
	
              30-Nov-09

            	
              45069KAA6

            	
              ITW
      CUPIDS FIN TR I GTD 144A CUPIDS

            	
              6.55

            	
              31-Dec-11

            	
              IDSI

            	
                         9,995,909

            	
                                10,000,000

            	
                           10,075,000

            
	
              30-Nov-09

            	
              N4281@BC8

            	
              KONINKLIJKE
      VOPAK NV SER O SR NT

            	
              5.99

            	
              19-Jun-19

            	
              AXIOM

            	
                       13,000,000

            	
                                13,000,000

            	
                           13,543,790

            
	
              30-Nov-09

            	
              124900B@9

            	
              CCL
      INDUSTRIES INC SER C SR NTS

            	
              7.09

            	
              08-Jul-18

            	
              AXIOM

            	
                       16,974,432

            	
                                16,000,000

            	
                           17,996,960

            
	
              30-Nov-09

            	
              58526#AT6

            	
              MEIJER
      FINANCE INC SEC NTS B1

            	
              8.13

            	
              01-Sep-10

            	
              AXIOM

            	
                         2,931,950

            	
                                  2,891,100

            	
                            3,032,070

            
	
              30-Nov-09

            	
              008548AE9

            	
              AGUA
      CALIENTE BAND CAHUILLA SER A SR S

            	
              6.08

            	
              01-Oct-16

            	
              AXIOM

            	
                            738,000

            	
                                     738,000

            	
                               646,230

            
	
              30-Nov-09

            	
              Q3126#AD3

            	
              DB
      RREEF FIN PTY LTD SER D GTD SR NT

            	
              5.44

            	
              21-Dec-14

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                            9,536,200

            
	
              30-Nov-09

            	
              L8992#AB2

            	
              SYNGENTA
      FINANCE N.V. SR NTS - B

            	
              5.35

            	
              08-Dec-25

            	
              AXIOM

            	
                         9,213,698

            	
                                10,000,000

            	
                           10,060,400

            
	
              30-Nov-09

            	
              G2613@AA4

            	
              DCC
      CORP SERVICES LTD SER A SR NTS

            	
              5.12

            	
              19-Apr-14

            	
              AXIOM

            	
                       24,000,000

            	
                                24,000,000

            	
                           25,383,120

            
	
              30-Nov-09

            	
              303250B@2

            	
              FAIR
      ISAAC CORP SER D SR NT

            	
              7.18

            	
              07-May-18

            	
              AXIOM

            	
                       30,000,000

            	
                                30,000,000

            	
                           33,952,800

            
	
              30-Nov-09

            	
              64318@AA9

            	
              NEW
      CARDINALS STADIUM 2007-A SR SEC NT

            	
              6.18

            	
              30-Jun-32

            	
              AXIOM

            	
                       24,084,062

            	
                                24,084,062

            	
                           22,614,453

            
	
              30-Nov-09

            	
              G7578#AB2

            	
              RITTON
      MARITIME(FIRST OMEGA) 2005-B GT

            	
              5.41

            	
              15-Jun-15

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,766,200

            
	
              30-Nov-09

            	
              92964*AA9

            	
              WY
      CAROLINA HLDGS SR SEC NTS

            	
              5.64

            	
              23-Dec-18

            	
              AXIOM

            	
                       15,500,000

            	
                                15,500,000

            	
                           16,687,765

            
	
              30-Nov-09

            	
              N0021#AB2

            	
              ABERTIS
      INFRAESTRUCTURAS FIN SER B-1

            	
              4.91

            	
              21-Dec-14

            	
              AXIOM

            	
                       37,606,649

            	
                                38,000,000

            	
                           41,423,800

            
	
              30-Nov-09

            	
              736508H*6

            	
              PORTLAND
      GENERAL ELECTRIC CO 1ST MTG B

            	
              5.8

            	
              01-Jun-39

            	
              AXIOM

            	
                         9,000,000

            	
                                  9,000,000

            	
                            9,552,510

            
	
              30-Nov-09

            	
              42205*AA3

            	
              HD
      WESTFIELD MA LANDLORD SEC LS-BCKD N

            	
              6.7

            	
              30-Sep-30

            	
              AXIOM

            	
                       44,360,000

            	
                                44,360,000

            	
                           49,924,962

            
	
              30-Nov-09

            	
              74731@AY5

            	
              QUAD/GRAPHICS
      INC SR SEC SER 98-5 TR B

            	
              7.1

            	
              22-May-18

            	
              AXIOM

            	
                         8,727,006

            	
                                  8,500,000

            	
                            7,695,475

            
	
              30-Nov-09

            	
              G8967#AF0

            	
              TRITON
      CONTAINER INTL SR SEC 2008-A-2

            	
              7.66

            	
              30-Sep-18

            	
              MANUL

            	
                       40,000,000

            	
                                40,000,000

            	
                           46,308,000

            
	
              30-Nov-09

            	
              99BLBG9B4

            	
              BIG
      WEST OIL LLC TRNCH DD DELAYED DRAW

            	
              4.47125

            	
              15-May-14

            	
              OBROK

            	
                         2,730,854

            	
                                  2,730,854

            	
                            2,594,312

            
	
              30-Nov-09

            	
              14155#AA8

            	
              CARDINALS
      BALLPARK LLC SR SEC NTS

            	
              5.72

            	
              30-Sep-27

            	
              AXIOM

            	
                       24,383,200

            	
                                24,383,200

            	
                           20,930,051

            
	
              30-Nov-09

            	
              54401PA#3

            	
              LORD
      CORP SER 2006A SR NT

            	
              4.7625

            	
              12-Jul-16

            	
              MANUL

            	
                       24,933,123

            	
                                16,646,849

            	
                           25,293,683

            
	
              30-Nov-09

            	
              94868#AA8

            	
              WEIN
      ALABAMA LLC(WALGREEN) 6.69% CTL N

            	
              6.59

            	
              01-Apr-28

            	
              AXIOM

            	
                         2,622,142

            	
                                  2,622,142

            	
                            3,056,081

            
	
              30-Nov-09

            	
              03040#AD4

            	
              AMERICAN
      WATER CAP CORP SER C SR NT

            	
              5.62

            	
              21-Dec-18

            	
              AXIOM

            	
                       24,200,000

            	
                                24,200,000

            	
                           24,891,878

            
	
              30-Nov-09

            	
              G6843#AA5

            	
              P&O
      PRINCESS CRUISES PLC SER A SR NT

            	
              7.35

            	
              31-Jul-10

            	
              AXIOM

            	
                       18,990,661

            	
                                19,000,000

            	
                           19,455,050

            
	
              30-Nov-09

            	
              857449#T9

            	
              STATE
      STREET BK & TR (AIRBUS) SER B CT

            	
              8.99

            	
              15-Sep-18

            	
              AXIOM

            	
                         1,638,429

            	
                                  1,407,652

            	
                            1,877,583

            
	
              30-Nov-09

            	
              12533@AA7

            	
              BURLINGTON
      NORTHERN SANTA FE CFT BNSF2

            	
              5.66

            	
              15-Jan-23

            	
              AXIOM

            	
                         1,998,989

            	
                                  2,074,074

            	
                            2,202,169

            
	
              30-Nov-09

            	
              16725#AG1

            	
              CHICAGO
      BRIDGE & IRON(DEL) VR RT SER C

            	
              3.3975

            	
              06-Nov-14

            	
              AXIOM

            	
                       45,000,000

            	
                                45,000,000

            	
                           42,525,000

            
	
              30-Nov-09

            	
              89838@AA7

            	
              TRSTEES
      EST JAMES CAMPBELL SER A SR NT

            	
              5.17

            	
              30-Sep-11

            	
              AXIOM

            	
                         1,000,000

            	
                                  1,000,000

            	
                            1,039,020

            
	
              30-Nov-09

            	
              97180*SG4

            	
              WILMINGTON
      TR AIRBUS IND CTF-92 NW-E

            	
              9.03

            	
              29-Nov-14

            	
              AXIOM

            	
                            154,703

            	
                                     141,185

            	
                               165,124

            
	
              30-Nov-09

            	
              97181#KV4

            	
              WILMINGTON
      TR UPRR 2005 B-1

            	
              5.36

            	
              30-Nov-28

            	
              AXIOM

            	
                            720,062

            	
                                     792,675

            	
                               841,583

            
	
              30-Nov-09

            	
              G2978#AD5

            	
              ELECTRICITY
      SUPPLY BOARD (ESB) SR NTS

            	
              5.39

            	
              15-Dec-18

            	
              AXIOM

            	
                         4,793,030

            	
                                  5,000,000

            	
                            4,978,100

            
	
              30-Nov-09

            	
              85746*BZ2

            	
              STATE
      ST BK & TR (NOVA CHEM)

            	
              7.89

            	
              27-Sep-16

            	
              AXIOM

            	
                         4,675,950

            	
                                  4,964,535

            	
                            5,001,869

            
	
              30-Nov-09

            	
              88642@AD9

            	
              TIDEWATER
      INC SER D SR NTS

            	
              4.44

            	
              30-Jul-13

            	
              AXIOM

            	
                         4,755,393

            	
                                  5,000,000

            	
                            5,263,600

            
	
              30-Nov-09

            	
              24713#AC8

            	
              DELOITTE
      & TOUCHE LLP SER B GTD SR NTS

            	
              7.41

            	
              01-Oct-11

            	
              AXIOM

            	
                         1,916,869

            	
                                  1,915,301

            	
                            2,048,530

            
	
              30-Nov-09

            	
              N0431#AG5

            	
              ARUBA
      SER E SR NT

            	
              6.71

            	
              15-Oct-13

            	
              MANUL

            	
                       18,000,000

            	
                                18,000,000

            	
                           18,074,813

            
	
              30-Nov-09

            	
              42823#AJ2

            	
              HEWITT
      ASSOCIATES LLC SER G SR NT

            	
              6.98

            	
              21-Aug-18

            	
              AXIOM

            	
                       11,981,500

            	
                                12,000,000

            	
                           13,111,200

            
	
              30-Nov-09

            	
              46458KAF2

            	
              ISLANDSBANKI
      HF (GLITNIR BANK) 144A SR

            	
              5.44

            	
              22-Dec-15

            	
              MANUL

            	
                         1,500,000

            	
                                30,000,000

            	
                            1,500,000

            
	
              30-Nov-09

            	
              66939#AF0

            	
              NORWEST
      BANK MN UTC EQ TR 2000-A L16

            	
              8.13

            	
              30-Jun-16

            	
              MANUL

            	
                         6,384,160

            	
                                  5,799,465

            	
                            6,829,450

            
	
              30-Nov-09

            	
              01583*AF0

            	
              ALGONQUIN
      GAS TRANMISSION CO SR NT

            	
              5.69

            	
              26-Nov-12

            	
              AXIOM

            	
                       23,000,000

            	
                                23,000,000

            	
                           24,773,300

            
	
              30-Nov-09

            	
              16735#AA2

            	
              CHICAGO
      FAUCET CO GTD SER A SR NTS

            	
              5

            	
              19-Dec-09

            	
              AXIOM

            	
                       12,500,000

            	
                                12,500,000

            	
                           12,513,625

            
	
              30-Nov-09

            	
              97180*SC3

            	
              WILMINGTON
      TR AIRBUS IND CTF-92 NW-A

            	
              9.03

            	
              27-Nov-14

            	
              AXIOM

            	
                            154,699

            	
                                     141,185

            	
                               165,084

            
	
              30-Nov-09

            	
              97181#HX4

            	
              WILMINGTON/OXYCHEM
      TR B GTD CONSTR NT

            	
              8.0678

            	
              15-Jan-27

            	
              AXIOM

            	
                       21,000,000

            	
                                21,000,000

            	
                           26,449,500

            
	
              30-Nov-09

            	
              F9181#AG7

            	
              THOMSON
      SER C SR NT

            	
              8.33

            	
              17-May-13

            	
              MANUL

            	
                       40,000,000

            	
                                40,000,000

            	
                           28,000,000

            
	
              30-Nov-09

            	
              G2624@AA1

            	
              DAIRY
      CREST GROUP PLC SER A GTD SR NT

            	
              5.73

            	
              04-Apr-13

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,903,200

            
	
              30-Nov-09

            	
              59179#AA5

            	
              METROPCS
      WIRELESS INC TRNCH B TERM LOA

            	
              2.625

            	
              20-Feb-14

            	
              OBROK

            	
                         2,427,932

            	
                                  2,437,186

            	
                            2,247,548

            
	
              30-Nov-09

            	
              74915#AA3

            	
              R&L
      SHERWOOD 5.72% CTL NT (KOHLS)

            	
              5.6365

            	
              10-Jan-24

            	
              AXIOM

            	
                         4,850,059

            	
                                  4,850,059

            	
                            5,173,267

            
	
              30-Nov-09

            	
              99BLBT9C4

            	
              BOSTON
      GENERATING LLC TRNCH LC LN31019

            	
              2.8475

            	
              21-Dec-13

            	
              OBROK

            	
                            519,265

            	
                                     519,265

            	
                               363,917

            
	
              30-Nov-09

            	
              58526#AP4

            	
              MEIJER
      FINANCE INC SR SEC NTS A4

            	
              8.24

            	
              01-Jun-20

            	
              AXIOM

            	
                         2,861,912

            	
                                  2,638,100

            	
                            3,216,899

            
	
              30-Nov-09

            	
              63250@AE3

            	
              NATL
      AMUSEMENTS INC/NAI LTD SER A NT

            	
              10

            	
              31-Dec-10

            	
              AXIOM

            	
                       23,600,433

            	
                                24,013,993

            	
                           24,256,054

            
	
              30-Nov-09

            	
              D3917#AC2

            	
              DEUTZ
      AG SER C SR NT

            	
              5.98

            	
              16-Jul-14

            	
              AXIOM

            	
                       17,000,000

            	
                                17,000,000

            	
                           16,680,060

            
	
              30-Nov-09

            	
              038521A*1

            	
              ARAMARK
      CORP TRNCH LC BANK LOAN

            	
              2.46876

            	
              26-Jan-14

            	
              OBROK

            	
                              58,120

            	
                                       58,426

            	
                                 52,921

            
	
              30-Nov-09

            	
              C5864@AA7

            	
              MULLEN
      GROUP LTD SER A SR GTD NT (USA

            	
              6.29

            	
              30-Jun-16

            	
              AXIOM

            	
                         9,000,000

            	
                                  9,000,000

            	
                            9,854,370

            
	
              30-Nov-09

            	
              N4281@AQ8

            	
              VOPAK
      SER C SR NTS

            	
              8.37

            	
              19-Jun-11

            	
              AXIOM

            	
                       14,364,024

            	
                                14,000,000

            	
                           15,224,860

            
	
              30-Nov-09

            	
              99BLPP9B9

            	
              PIVOTAL
      PROMONTORY LLC SECOND LIEN TER

            	
              11.83

            	
              28-Jul-11

            	
              MANUL

            	
                            150,000

            	
                                  2,000,000

            	
                                 60,000

            
	
              30-Nov-09

            	
              335867E*4

            	
              FIRST
      OMNI BANK NA ICX TR 98A-1 SER C

            	
              6.65

            	
              02-Jul-20

            	
              MANUL

            	
                         1,877,442

            	
                                  3,236,854

            	
                            3,236,854

            
	
              30-Nov-09

            	
              74500PAC8

            	
              PUEBLO
      OF SANTA ANA 144A BDS

            	
              6.29

            	
              01-Apr-15

            	
              AXIOM

            	
                         6,300,000

            	
                                  6,300,000

            	
                            5,377,680

            
	
              30-Nov-09

            	
              W0805#AE8

            	
              ASSA
      ABLOY FINANCIAL SVCS SER E GTD SR

            	
              5.41

            	
              15-May-20

            	
              AXIOM

            	
                         7,632,803

            	
                                  8,000,000

            	
                            7,902,000

            
	
              30-Nov-09

            	
              G4916#AE4

            	
              INVESTCORP
      CAP LTD SER A GTD SR NT

            	
              6.64

            	
              17-Dec-10

            	
              AXIOM

            	
                         8,850,000

            	
                                  8,850,000

            	
                            8,475,114

            
	
              30-Nov-09

            	
              43014*AA2

            	
              HIGHLAND
      HOUSE APTS LLC 6.62% CTL (WAL

            	
              6.52

            	
              01-Dec-27

            	
              AXIOM

            	
                         3,523,130

            	
                                  3,523,130

            	
                            4,083,343

            
	
              30-Nov-09

            	
              29266RH*2

            	
              ENERGIZER
      HOLDINGS INC SR NTS

            	
              5.23

            	
              29-Sep-15

            	
              AXIOM

            	
                         4,855,503

            	
                                  5,000,000

            	
                            5,385,500

            
	
              30-Nov-09

            	
              12533*AA9

            	
              BURLINGTON
      NORTHERN SANTA FE CFT BNSF

            	
              5.66

            	
              15-Jan-23

            	
              AXIOM

            	
                         2,748,610

            	
                                  2,851,852

            	
                            3,027,982

            
	
              30-Nov-09

            	
              99BLBG9A6

            	
              BIG
      WEST OIL LLC TRNCH B TERM LOAN

            	
              4.5

            	
              31-Dec-14

            	
              OBROK

            	
                         2,172,271

            	
                                  2,172,271

            	
                            2,063,657

            
	
              30-Nov-09

            	
              97180*SD1

            	
              WILMINGTON
      TR AIRBUS IND CTF-92 NW-B

            	
              9.03

            	
              29-Nov-14

            	
              AXIOM

            	
                            154,703

            	
                                     141,185

            	
                               165,124

            
	
              30-Nov-09

            	
              G7895#AC6

            	
              SCOTTISH
      & NEWCASTLE PLC SER C SR NT

            	
              5.57

            	
              05-Dec-14

            	
              AXIOM

            	
                       32,713,234

            	
                                33,000,000

            	
                           36,954,390

            
	
              30-Nov-09

            	
              58526#AZ2

            	
              MEIJER
      FINANCE INC SEC NTS B3

            	
              8.13

            	
              01-Sep-10

            	
              AXIOM

            	
                         3,484,143

            	
                                  3,435,600

            	
                            3,603,120

            
	
              30-Nov-09

            	
              Q8815#AA4

            	
              TABCORP
      INV NO 4 PTY LTD SER A GTD SR

            	
              5.27

            	
              21-Dec-14

            	
              AXIOM

            	
                       22,000,000

            	
                                22,000,000

            	
                           21,772,740

            
	
              30-Nov-09

            	
              085209C@1

            	
              GOVT
      OF BERMUDA SR NT

            	
              5.93

            	
              10-Nov-19

            	
              MANUL

            	
                       25,000,000

            	
                                25,000,000

            	
                           25,000,000

            
	
              30-Nov-09

            	
              F9181#AA0

            	
              THOMSON
      SER A SR NT

            	
              6.13

            	
              30-Jun-10

            	
              MANUL

            	
                         4,000,000

            	
                                  4,000,000

            	
                            2,800,000

            
	
              30-Nov-09

            	
              58528#FF9

            	
              MEIJER,
      INC. E-3

            	
              7.64

            	
              01-Jun-24

            	
              AXIOM

            	
                         1,095,408

            	
                                  1,023,700

            	
                            1,270,197

            
	
              30-Nov-09

            	
              41242*AD4

            	
              HARDWOOD
      FUNDING LLC (NBA) SR NTS SER

            	
              5.31

            	
              08-Dec-12

            	
              AXIOM

            	
                         7,884,927

            	
                                  8,000,000

            	
                            8,260,880

            
	
              30-Nov-09

            	
              99BLNE9A8

            	
              NES
      RENTALS HLDGS 2ND LIEN TERM LOAN

            	
              7.125

            	
              30-Sep-13

            	
              OBROK

            	
                         1,725,712

            	
                                  1,725,712

            	
                            1,117,399

            
	
              30-Nov-09

            	
              70383#AF3

            	
              PAVESTONE
      SEC SER D

            	
              6.96

            	
              15-Jul-13

            	
              AXIOM

            	
                         2,336,330

            	
                                  2,376,504

            	
                            2,349,982

            
	
              30-Nov-09

            	
              68205*AA8

            	
              OMAHA
      WORLD-HERALD CO SR NTS

            	
              6.82

            	
              01-Jul-13

            	
              MANUL

            	
                         6,921,257

            	
                                  7,272,727

            	
                            6,819,127

            
	
              30-Nov-09

            	
              674627A*5

            	
              OCE
      NV SER A SR NT

            	
              8.43

            	
              19-Apr-11

            	
              AXIOM

            	
                       35,000,000

            	
                                35,000,000

            	
                           36,649,200

            
	
              30-Nov-09

            	
              58526#AB5

            	
              MEIJER
      FINANCE INC SR SEC NTS B1

            	
              8.24

            	
              01-Jun-20

            	
              AXIOM

            	
                         2,975,603

            	
                                  2,742,900

            	
                            3,344,692

            
	
              30-Nov-09

            	
              871655C@3

            	
              SYPRIS
      SOLUTIONS INC SER B SR SEC NT

            	
              10.2

            	
              15-Jan-12

            	
              AXIOM

            	
                         1,186,899

            	
                                  1,209,537

            	
                            1,104,368

            
	
              30-Nov-09

            	
              03079@AB4

            	
              AMERIGAS
      PROPANE LP SER E SEC NT

            	
              8.5

            	
              01-Jul-10

            	
              AXIOM

            	
                         8,587,010

            	
                                  8,500,000

            	
                            8,820,620

            
	
              30-Nov-09

            	
              97180*UW6

            	
              WILMINGTON/TUCSON
      ELEC SER C-6

            	
              10.73239

            	
              01-Jan-11

            	
              AXIOM

            	
                         6,329,932

            	
                                  6,312,425

            	
                            6,571,803

            
	
              30-Nov-09

            	
              345370C#5

            	
              FORD
      MOTOR CO TRNCH B TERM LOAN

            	
              3.32

            	
              15-Dec-13

            	
              OBROK

            	
                         6,824,505

            	
                                  6,819,826

            	
                            5,987,261

            
	
              30-Nov-09

            	
              N6510*AD7

            	
              NUTRECO
      HLDG NV SER A SR NT

            	
              7.23

            	
              08-Apr-14

            	
              AXIOM

            	
                         7,000,000

            	
                                  7,000,000

            	
                            8,087,100

            
	
              30-Nov-09

            	
              Q2264@AC1

            	
              CHALLENGER
      LIFE NO 2 LTD SER C SB NT

            	
              6.53

            	
              07-Dec-26

            	
              AXIOM

            	
                       25,000,000

            	
                                25,000,000

            	
                           22,132,000

            
	
              30-Nov-09

            	
              542290AF8

            	
              LONE
      STAR INDS 144A GTD SR NT (DYCKERH

            	
              9.25

            	
              01-Jun-10

            	
              AXIOM

            	
                         3,816,676

            	
                                  3,850,000

            	
                            3,961,727

            
	
              30-Nov-09

            	
              073252AA6

            	
              BAYVIEW
      RESH CTR LS FIN TR 04 US GOVT

            	
              6.33

            	
              15-Jan-37

            	
              MANUL

            	
                       19,967,260

            	
                                19,967,260

            	
                           19,767,587

            
	
              30-Nov-09

            	
              D7625#AA0

            	
              SOLARWORLD
      AG SER A SR NT

            	
              5.89

            	
              21-Dec-13

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           21,556,400

            
	
              30-Nov-09

            	
              G2978#AC7

            	
              ELECTRICITY
      SUPPLY BOARD (ESB) SR NTS

            	
              5.19

            	
              15-Dec-15

            	
              AXIOM

            	
                         4,826,337

            	
                                  5,000,000

            	
                            5,129,550

            
	
              30-Nov-09

            	
              877904AA0

            	
              TEAM
      CLASSIC GOLF SVCS INC SR NTS

            	
              7.15

            	
              01-Dec-10

            	
              AXIOM

            	
                         3,400,766

            	
                                  3,385,920

            	
                            3,217,741

            
	
              30-Nov-09

            	
              10468*AA2

            	
              BRADY
      CORP SR NTS

            	
              5.14

            	
              28-Jun-14

            	
              AXIOM

            	
                       16,169,024

            	
                                16,785,714

            	
                           17,596,464

            
	
              30-Nov-09

            	
              23307*AC6

            	
              DC
      ARENA LP GTD SR SEC NT

            	
              6.56

            	
              30-Nov-23

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,035,600

            
	
              30-Nov-09

            	
              36129#AA4

            	
              G
      & R DEV LLC (WALGREEN) 6.38% CTL NT

            	
              6.28

            	
              01-Jun-28

            	
              AXIOM

            	
                         3,314,131

            	
                                  3,314,131

            	
                            3,775,094

            
	
              30-Nov-09

            	
              96218PAN0

            	
              WEYERHAUESER
      REAL EST 144A MTNE

            	
              6.22

            	
              17-Sep-14

            	
              IDSI

            	
                         2,000,000

            	
                                  2,000,000

            	
                            1,866,820

            
	
              30-Nov-09

            	
              74734*AD0

            	
              QINETIQ
      NORTH AMERICA INC SER D GTD SR

            	
              7.62

            	
              05-Feb-19

            	
              AXIOM

            	
                       13,000,000

            	
                                13,000,000

            	
                           15,251,730

            
	
              30-Nov-09

            	
              P4948#AA4

            	
              GRUPO
      CEMENTOS DE CHIHUAHUA SER A SR G

            	
              6.74

            	
              31-Jul-16

            	
              AXIOM

            	
                       16,150,000

            	
                                16,150,000

            	
                           14,897,245

            
	
              30-Nov-09

            	
              C0445#AF3

            	
              ARC
      RESOURCES LTD SER C SR SEC NT

            	
              7.19

            	
              14-Apr-16

            	
              AXIOM

            	
                       12,500,000

            	
                                12,500,000

            	
                           14,182,375

            
	
              30-Nov-09

            	
              96432WAA3

            	
              WHITE
      PINE HYDRO LLC OPCO SR SEC 144A

            	
              6.31

            	
              10-Jul-17

            	
              IDSI

            	
                       17,059,749

            	
                                18,100,000

            	
                           15,745,371

            
	
              30-Nov-09

            	
              64079*AB8

            	
              NEPTUNE
      REGIONAL TRANSMSN TR A SR SEC

            	
              6.21

            	
              30-Jun-27

            	
              AXIOM

            	
                       19,335,554

            	
                                19,335,554

            	
                           20,432,267

            
	
              30-Nov-09

            	
              97181#BU6

            	
              WILM'TN
      TR SER A (BPASSUMPSOLVAY 95)

            	
              7.52

            	
              01-Jul-17

            	
              AXIOM

            	
                            336,435

            	
                                     312,387

            	
                               374,489

            
	
              30-Nov-09

            	
              11283#AA9

            	
              BROOKFIELD
      POWER NY FIN SER 1 SR SEC

            	
              5.45

            	
              18-Dec-17

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           10,161,600

            
	
              30-Nov-09

            	
              58526#BC2

            	
              MEIJER
      FINANCE INC GTD SR SEC NT B1 ST

            	
              8.03

            	
              01-Jan-11

            	
              AXIOM

            	
                         3,935,660

            	
                                  3,862,000

            	
                            4,125,118

            
	
              30-Nov-09

            	
              69352BAC8

            	
              PPL
      MONTANA LLC PASS THRU CTFS

            	
              8.903

            	
              02-Jul-20

            	
              AXIOM

            	
                       17,081,470

            	
                                16,544,687

            	
                           18,261,860

            
	
              30-Nov-09

            	
              88713UAE6

            	
              TIMBERSTAR
      TR I 2006-1 CL D CMBS

            	
              6.2082

            	
              15-Oct-36

            	
              IDSI

            	
                         6,000,000

            	
                                  6,000,000

            	
                            5,340,000

            
	
              30-Nov-09

            	
              58983*CF4

            	
              MERIDIAN
      TRUST TTX EQ TR 32-A

            	
              9.85

            	
              29-Jan-10

            	
              AXIOM

            	
                               3,462

            	
                                        3,385

            	
                                   3,434

            
	
              30-Nov-09

            	
              D9493#AA5

            	
              VOSSLOH
      AG SR U/S NTS

            	
              5.9

            	
              24-Jun-14

            	
              AXIOM

            	
                         4,975,272

            	
                                  5,000,000

            	
                            5,509,950

            
	
              30-Nov-09

            	
              716747AA8

            	
              PETROPOWER
      I FDG TRUST 144A US TR CTF

            	
              7.36

            	
              15-Feb-14

            	
              IDSI

            	
                         2,950,195

            	
                                  2,980,203

            	
                            2,991,081

            
	
              30-Nov-09

            	
              G1418#AC7

            	
              CARIBBEAN
      UTILITIES CO LTD SR NTS

            	
              7.64

            	
              01-Jun-14

            	
              AXIOM

            	
                         3,750,000

            	
                                  3,750,000

            	
                            4,142,025

            
	
              30-Nov-09

            	
              795549AA2

            	
              SALT
      CREEK PTC 144A W/O RR SER 2004

            	
              5.672

            	
              15-Dec-14

            	
              AXIOM

            	
                       15,196,805

            	
                                15,000,000

            	
                           16,771,800

            
	
              30-Nov-09

            	
              Q5516@AA4

            	
              LEIGHTON
      FIN LTD SER A GTD SR NT

            	
              6.91

            	
              15-Oct-13

            	
              AXIOM

            	
                         2,000,000

            	
                                  2,000,000

            	
                            2,183,880

            
	
              30-Nov-09

            	
              92964#AA5

            	
              WY
      TENN HLDGS LLC SR SEC NTS

            	
              5.81

            	
              17-Dec-18

            	
              AXIOM

            	
                         5,500,000

            	
                                  5,500,000

            	
                            5,993,240

            
	
              30-Nov-09

            	
              93045#AC2

            	
              WAGNER
      EQUIPMENT CO SR NTS

            	
              6.58

            	
              04-Oct-11

            	
              AXIOM

            	
                         7,542,754

            	
                                  7,500,000

            	
                            7,830,225

            
	
              30-Nov-09

            	
              75737#AE8

            	
              REDFIRE
      INC SER B SR GTD NT

            	
              7.5

            	
              17-Jun-16

            	
              AXIOM

            	
                       30,000,000

            	
                                30,000,000

            	
                           35,620,500

            
	
              30-Nov-09

            	
              736508K*2

            	
              PORTLAND
      GENERAL ELECTRIC CO FMB

            	
              5.43

            	
              03-May-40

            	
              AXIOM

            	
                       16,000,000

            	
                                16,000,000

            	
                           15,474,400

            
	
              30-Nov-09

            	
              K1601#AA3

            	
              COLOPLAST
      A/S SR NT

            	
              5

            	
              30-Apr-13

            	
              AXIOM

            	
                       34,712,729

            	
                                35,000,000

            	
                           36,625,750

            
	
              30-Nov-09

            	
              12638VAC0

            	
              CSN
      ISLANDS VI CORP SER 2004-1 SR NTS

            	
              7.427

            	
              03-May-12

            	
              AXIOM

            	
                         7,273,158

            	
                                  7,273,158

            	
                            7,610,851

            
	
              30-Nov-09

            	
              91374*AN7

            	
              UNITED
      TELEPHONE NORTHWEST SER Q FMB

            	
              8.77

            	
              01-Aug-17

            	
              AXIOM

            	
                         3,039,000

            	
                                  3,039,000

            	
                            3,666,645

            
	
              30-Nov-09

            	
              B7108#AA8

            	
              ROULARTA
      MEDIA GROUP NV SR NT

            	
              8.43

            	
              26-Apr-14

            	
              AXIOM

            	
                       14,112,130

            	
                                14,112,130

            	
                           12,802,948

            
	
              30-Nov-09

            	
              D8884#AB2

            	
              VOITH
      AG SER B SR NTS

            	
              6.03

            	
              17-Aug-16

            	
              AXIOM

            	
                       17,732,086

            	
                                18,000,000

            	
                           19,221,480

            
	
              30-Nov-09

            	
              99BLTP9C3

            	
              TPF
      GENERATION HLDGS LLC REVOLVER BANK

            	
              2.1

            	
              15-Dec-13

            	
              OBROK

            	
                            141,828

            	
                                     141,576

            	
                               134,143

            
	
              30-Nov-09

            	
              34486#AA6

            	
              FOOTBALL
      CLUB TERM NOTES 2014 TR CTF

            	
              5.05

            	
              05-Oct-14

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,205,900

            
	
              30-Nov-09

            	
              55359#AA5

            	
              MRED
      HWY12/HWY13 6.85% CTL NT

            	
              6.75

            	
              05-Aug-27

            	
              AXIOM

            	
                         2,479,654

            	
                                  2,479,654

            	
                            2,920,686

            
	
              30-Nov-09

            	
              99BLHW9A5

            	
              HAWKER
      BEECHCRAFT INC TRNCH B TERM LOA

            	
              2.285

            	
              26-Mar-14

            	
              OBROK

            	
                         2,247,340

            	
                                  2,247,340

            	
                            1,722,968

            
	
              30-Nov-09

            	
              883199A@0

            	
              TEXTRON
      FINANCIAL CORP SR NTS

            	
              4.39

            	
              24-Dec-13

            	
              MANUL

            	
                         8,912,226

            	
                                  9,473,684

            	
                            8,751,316

            
	
              30-Nov-09

            	
              25248#AA3

            	
              DHC
      LNL KNOXVILLE FOREST RIDGE II DEFE

            	
              6.8

            	
              01-Jan-13

            	
              MANUL

            	
                       19,385,177

            	
                                18,682,055

            	
                           20,923,902

            
	
              30-Nov-09

            	
              03016*AA4

            	
              AMERICAN
      TAX CR CORP FXD IX LP PROM NT

            	
              6.9453

            	
              01-Jan-11

            	
              AXIOM

            	
                         2,802,992

            	
                                  2,797,403

            	
                            2,890,808

            
	
              30-Nov-09

            	
              04626RAA4

            	
              ASTORIA
      DEP CORP SER A PASS-THRU CTFS

            	
              5.744

            	
              01-May-16

            	
              AXIOM

            	
                       22,673,225

            	
                                22,754,238

            	
                           21,831,099

            
	
              30-Nov-09

            	
              10600PAA5

            	
              BRAZILIAN
      MER VOUCH RECV 2003-1 SR SEC

            	
              5.911

            	
              15-Jun-11

            	
              AXIOM

            	
                         5,590,335

            	
                                  5,590,335

            	
                            5,776,941

            
	
              30-Nov-09

            	
              75945EA*0

            	
              RELIANCE
      ENERGY LIMITED SR NT

            	
              6.63

            	
              20-Nov-16

            	
              AXIOM

            	
                       25,000,000

            	
                                25,000,000

            	
                           21,561,500

            
	
              30-Nov-09

            	
              N4345#AF4

            	
              IBERDROLA
      INT BV SER A GTD SR NT

            	
              5.53

            	
              21-Dec-17

            	
              AXIOM

            	
                       50,000,000

            	
                                50,000,000

            	
                           52,739,500

            
	
              30-Nov-09

            	
              87277@AC5

            	
              TPF
      GENERATION HLDGS LLC LOC BANK LOAN

            	
              2.1

            	
              15-Dec-13

            	
              OBROK

            	
                            452,436

            	
                                     451,628

            	
                               427,918

            
	
              30-Nov-09

            	
              36229KB*4

            	
              GTC
      TRANSCNTL GRP 2002A TR 1 SR NTS

            	
              5.62

            	
              15-Dec-12

            	
              AXIOM

            	
                       11,000,000

            	
                                11,000,000

            	
                           10,796,830

            
	
              30-Nov-09

            	
              Q1403*AD5

            	
              BLUESCOPE
      STEEL (FINANCE) SER B SR GTD

            	
              6.71

            	
              30-Jun-18

            	
              AXIOM

            	
                       26,085,000

            	
                                26,000,000

            	
                           28,871,180

            
	
              30-Nov-09

            	
              74732@AC2

            	
              QUAD/GRAPHICS
      TR C 2006-1 SR SEC NTS

            	
              6.49

            	
              30-Jan-36

            	
              AXIOM

            	
                         1,000,000

            	
                                  1,000,000

            	
                               718,800

            
	
              30-Nov-09

            	
              30215*AM0

            	
              EXPLORER
      PIPELINE CO SER L SR NTS

            	
              7.01

            	
              31-Jul-22

            	
              AXIOM

            	
                       10,824,399

            	
                                10,000,000

            	
                           10,934,600

            
	
              30-Nov-09

            	
              22281NA@2

            	
              COVANTA
      ENERGY CORP TRNCH LC

            	
              1.6

            	
              09-Feb-14

            	
              OBROK

            	
                         1,655,369

            	
                                  1,649,485

            	
                            1,535,670

            
	
              30-Nov-09

            	
              12533#AA5

            	
              BURLINGTON
      NORTHERN SANTA FE CFT BNSF

            	
              5.66

            	
              15-Jan-23

            	
              AXIOM

            	
                         3,747,938

            	
                                  3,888,890

            	
                            4,128,951

            
	
              30-Nov-09

            	
              313855E*5

            	
              FEDERAL
      SIGNAL CORP SR NTS

            	
              6.24

            	
              15-Dec-12

            	
              AXIOM

            	
                         5,159,494

            	
                                  5,693,575

            	
                            5,572,359

            
	
              30-Nov-09

            	
              99BLBT9A8

            	
              BOSTON
      GENERATING LLC TRNCH B TERM LOA

            	
              2.56875

            	
              20-Dec-13

            	
              OBROK

            	
                         2,282,403

            	
                                  2,282,534

            	
                            1,599,668

            
	
              30-Nov-09

            	
              335867G#8

            	
              FIRST
      OMNI BANK NA AMSOUTH TR 99 A-1 S

            	
              6.65

            	
              02-Jan-21

            	
              MANUL

            	
                         1,573,505

            	
                                  2,746,371

            	
                            2,746,371

            
	
              30-Nov-09

            	
              74966*AC1

            	
              RPC
      INC SR U/S NTS

            	
              7.63

            	
              15-Nov-12

            	
              AXIOM

            	
                         6,893,925

            	
                                  7,000,000

            	
                            7,277,900

            
	
              30-Nov-09

            	
              13861#AA5

            	
              CANTOR
      FITZGERALD SR NT

            	
              5.19

            	
              01-Apr-10

            	
              AXIOM

            	
                         4,382,233

            	
                                  4,400,000

            	
                            4,397,800

            
	
              30-Nov-09

            	
              10510@AF7

            	
              BRAMBLES
      USA INC SER C GTD SR NT

            	
              8.23

            	
              07-May-19

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           23,676,800

            
	
              30-Nov-09

            	
              11283#AB7

            	
              BROOKFIELD
      POWER NY FIN SER 2 SR SEC

            	
              5.91

            	
              16-Dec-25

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            4,698,800

            
	
              30-Nov-09

            	
              12626#AJ4

            	
              CRH
      AMERICA INC GTD SER D SR NTS

            	
              8.06

            	
              22-Sep-14

            	
              AXIOM

            	
                         9,993,620

            	
                                10,000,000

            	
                           11,562,600

            
	
              30-Nov-09

            	
              90781#AF9

            	
              UNION
      PACIFIC RAILROADTR SER 2008-3

            	
              4.2

            	
              30-Apr-15

            	
              AXIOM

            	
                         4,587,341

            	
                                  4,587,341

            	
                            4,730,741

            
	
              30-Nov-09

            	
              57169*AJ6

            	
              MARS
      INC SER B SR NT

            	
              6.47

            	
              06-Oct-18

            	
              AXIOM

            	
                       48,000,000

            	
                                48,000,000

            	
                           56,641,440

            
	
              30-Nov-09

            	
              43460#AA7

            	
              HOGAN
      REAL ESTATE (WALGREEN) 6.27% CTL

            	
              6.17

            	
              01-Jan-29

            	
              AXIOM

            	
                         2,710,692

            	
                                  2,710,692

            	
                            3,062,486

            
	
              30-Nov-09

            	
              33903*DA4

            	
              FLEET
      NATIONAL BANK NOVA CHEM LESSEE

            	
              8.26

            	
              27-Mar-16

            	
              AXIOM

            	
                         5,487,313

            	
                                  5,736,107

            	
                            5,803,965

            
	
              30-Nov-09

            	
              70383#AE6

            	
              PAVESTONE
      SEC SER C

            	
              6.85

            	
              15-Jul-12

            	
              AXIOM

            	
                            937,402

            	
                                     950,602

            	
                               949,547

            
	
              30-Nov-09

            	
              74731@AB5

            	
              QUAD/GRAPHICS
      INC SER 96-1 TR B

            	
              8.04

            	
              15-Jun-16

            	
              AXIOM

            	
                         5,134,903

            	
                                  4,772,727

            	
                            4,855,964

            
	
              30-Nov-09

            	
              857449#R3

            	
              STATE
      STREET BK & TR (AIRBUS) SER B CT

            	
              8.99

            	
              15-Sep-18

            	
              AXIOM

            	
                         1,639,387

            	
                                  1,408,484

            	
                            1,878,763

            
	
              30-Nov-09

            	
              F9731#AA5

            	
              VICAT
      S A SER A SR NTS

            	
              4.92

            	
              05-Aug-10

            	
              AXIOM

            	
                       19,000,000

            	
                                19,000,000

            	
                           19,158,080

            
	
              30-Nov-09

            	
              97180*SH2

            	
              WILMINGTON
      TR AIRBUS IND CTF-92 NW-F

            	
              9.03

            	
              28-Nov-14

            	
              AXIOM

            	
                            154,701

            	
                                     141,185

            	
                               165,104

            
	
              30-Nov-09

            	
              29266RD*6

            	
              ENERGIZER
      HOLDINGS INC SR NTS SER A-6

            	
              3.86

            	
              30-Jun-11

            	
              AXIOM

            	
                         4,863,238

            	
                                  5,000,000

            	
                            5,153,500

            
	
              30-Nov-09

            	
              Q5581#AA2

            	
              LION
      NATHAN FIN (AUSTRALIA) SR GTD NTS

            	
              8.65

            	
              28-Feb-12

            	
              AXIOM

            	
                         6,684,757

            	
                                  6,600,000

            	
                            7,171,296

            
	
              30-Nov-09

            	
              754427AA0

            	
              RAVENSWOOD
      UNIT 40 (KEYSPAN) SR SEC NT

            	
              5.996

            	
              15-Jan-19

            	
              AXIOM

            	
                         7,136,203

            	
                                  7,136,203

            	
                            7,587,639

            
	
              30-Nov-09

            	
              907821S94

            	
              UNION
      PAC RR CO (BNY MIDWEST TR) I

            	
              3.86

            	
              29-Sep-12

            	
              AXIOM

            	
                         1,217,703

            	
                                  1,217,703

            	
                            1,254,502

            
	
              30-Nov-09

            	
              47580*AY5

            	
              JELD-WEN
      INC SER D SR NT VR(MIN 8.99%)

            	
              10.49

            	
              30-Sep-12

            	
              MANUL

            	
                         5,696,651

            	
                                  5,696,651

            	
                            5,630,342

            
	
              30-Nov-09

            	
              G2083#AB1

            	
              CHEMRING
      GRP PLC SR SEC NT (USD SWAP)

            	
              6.81

            	
              12-Nov-17

            	
              MANUL

            	
                       20,612,777

            	
                                12,500,000

            	
                           21,982,801

            
	
              30-Nov-09

            	
              97180*UU0

            	
              WILMINGTON/TUCSON
      ELEC SER C-4

            	
              10.73239

            	
              01-Jan-13

            	
              AXIOM

            	
                         1,279,133

            	
                                  1,266,856

            	
                            1,400,497

            
	
              30-Nov-09

            	
              62894@AA5

            	
              NCFE
      LLC (FORMERLY BETSY LLC) WALGREEN

            	
              7.75

            	
              05-Jul-15

            	
              AXIOM

            	
                         1,128,749

            	
                                  1,060,200

            	
                            1,215,043

            
	
              30-Nov-09

            	
              L0549*AB1

            	
              CHASE
      MANHATTAN BK LUXEMBOURG CL B DEP

            	
              0

            	
              27-Aug-32

            	
              AXIOM

            	
                         2,712,910

            	
                                20,000,000

            	
                            2,692,400

            
	
              30-Nov-09

            	
              G8295TAD8

            	
              PENNON
      GRP PLC SR INDEX LNKD NT

            	
              6

            	
              13-Jul-22

            	
              MANUL

            	
                       49,470,664

            	
                                30,000,000

            	
                           48,657,564

            
	
              30-Nov-09

            	
              58526#BL2

            	
              MEIJER
      FINANCE INC GTD SEC SR NT B3 ST

            	
              8.03

            	
              01-Jan-11

            	
              AXIOM

            	
                         3,150,973

            	
                                  3,092,000

            	
                            3,302,658

            
	
              30-Nov-09

            	
              87275*AC9

            	
              TRT
      HOLDINGS INC SER C SR SEC NT

            	
              6.01

            	
              19-May-16

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                            9,529,900

            
	
              30-Nov-09

            	
              037705AA8

            	
              APPALACHIAN
      NPI SR SEC NTS

            	
              7.76

            	
              29-Feb-16

            	
              AXIOM

            	
                         5,491,764

            	
                                  5,041,500

            	
                            5,586,083

            
	
              30-Nov-09

            	
              99BLBD9A3

            	
              BUILDING
      MATERIALS CORP TRNCH BLN31292

            	
              3.0625

            	
              22-Feb-14

            	
              OBROK

            	
                         4,867,440

            	
                                  4,864,206

            	
                            4,438,588

            
	
              30-Nov-09

            	
              G5241#AC1

            	
              KERRY
      GRP FINL SVCS TR C SR NT

            	
              5.14

            	
              30-Apr-15

            	
              AXIOM

            	
                       37,253,658

            	
                                38,000,000

            	
                           41,106,500

            
	
              30-Nov-09

            	
              41242*AG7

            	
              HARDWOOD
      FDG (NBA) SER G SR NT

            	
              8.27

            	
              26-Feb-16

            	
              AXIOM

            	
                       24,000,000

            	
                                24,000,000

            	
                           27,941,040

            
	
              30-Nov-09

            	
              39121JAE0

            	
              GREAT
      RIVER ENERGY SER 2007A FMB 144A

            	
              6.254

            	
              01-Jul-38

            	
              IDSI

            	
                       39,231,430

            	
                                45,000,000

            	
                           45,997,200

            
	
              30-Nov-09

            	
              25467LA*7

            	
              DISCOVERY
      COMMUNICATIONS BONDS

            	
              6.01

            	
              01-Dec-15

            	
              AXIOM

            	
                       29,590,714

            	
                                30,000,000

            	
                           32,160,300

            
	
              30-Nov-09

            	
              97180*SW9

            	
              WILMINGTON
      TRUST (CONS PWR CO) SEC NT

            	
              7.99

            	
              02-Jul-11

            	
              AXIOM

            	
                         1,254,040

            	
                                  1,227,538

            	
                            1,272,785

            
	
              30-Nov-09

            	
              G2083#AD7

            	
              CHEMRING
      GROP PLC SER B SR SEC NT

            	
              5.68

            	
              19-Nov-19

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           21,109,000

            
	
              30-Nov-09

            	
              05577@AM2

            	
              BTMU
      CAP CORP SER E (BNSF 2009-A)

            	
              6.55

            	
              26-Feb-21

            	
              AXIOM

            	
                         1,592,920

            	
                                  1,592,920

            	
                            1,831,857

            
	
              30-Nov-09

            	
              G1252@AC8

            	
              BORD
      GAIS EIREANN SER C SR. NTS

            	
              5.26

            	
              22-Oct-14

            	
              AXIOM

            	
                         4,858,212

            	
                                  5,000,000

            	
                            5,125,000

            
	
              30-Nov-09

            	
              39812#AA0

            	
              GREYSTONE
      GRP SOLON LTD -WALGREEN 6.07

            	
              5.97

            	
              10-Feb-28

            	
              AXIOM

            	
                         4,276,123

            	
                                  4,276,123

            	
                            4,759,368

            
	
              30-Nov-09

            	
              G9284#AQ0

            	
              VITOL
      FIN LTD SER C GTD SR UNSEC NT

            	
              5.81

            	
              12-Nov-14

            	
              AXIOM

            	
                       22,958,122

            	
                                23,000,000

            	
                           24,463,260

            
	
              30-Nov-09

            	
              C1466#AA6

            	
              CPR
      LEASG (CANADIAN PACIFIC R) SR SECU

            	
              5.41

            	
              03-Mar-24

            	
              AXIOM

            	
                         6,569,843

            	
                                  7,017,144

            	
                            7,121,068

            
	
              30-Nov-09

            	
              G3144#AB6

            	
              FENNER
      INTL LTD

            	
              7.29

            	
              01-Jun-12

            	
              MANUL

            	
                         4,412,195

            	
                                  4,309,091

            	
                            4,395,272

            
	
              30-Nov-09

            	
              56032#AA8

            	
              MAIN-BLAINE
      LLC (WALGREEN)6.79% CTL

            	
              6.69

            	
              05-Jun-28

            	
              AXIOM

            	
                         2,283,862

            	
                                  2,283,862

            	
                            2,682,418

            
	
              30-Nov-09

            	
              713291A@1

            	
              PEPCO
      HOLDINGS INC NT

            	
              6

            	
              26-Apr-19

            	
              AXIOM

            	
                       25,000,000

            	
                                25,000,000

            	
                           26,234,750

            
	
              30-Nov-09

            	
              11283#AD3

            	
              BROOKFIELD
      POWER NEW YORK FIN SER 4 NT

            	
              5.62

            	
              19-Dec-17

            	
              AXIOM

            	
                         9,000,000

            	
                                  9,000,000

            	
                            9,247,770

            
	
              30-Nov-09

            	
              705322AK1

            	
              PEDERNALES
      EL COOP INC 02 SER A 144A F

            	
              6.202

            	
              15-Nov-32

            	
              MANUL

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,350,000

            
	
              30-Nov-09

            	
              97181#ET6

            	
              WILM'TN
      TR (BP&SOLVAY MIN EQ TR 98)

            	
              6.63

            	
              02-Jan-20

            	
              AXIOM

            	
                         1,464,523

            	
                                  1,429,858

            	
                            1,618,256

            
	
              30-Nov-09

            	
              33632*TW7

            	
              FIRST
      SECURITY BNK OF UT 1999 SER A

            	
              7.65

            	
              10-Jan-23

            	
              AXIOM

            	
                       12,718,600

            	
                                11,482,418

            	
                           13,774,423

            
	
              30-Nov-09

            	
              99BLFB9A3

            	
              FR
      BRAND HLDGS CORP TRNCH B TERM LOAN

            	
              2.625

            	
              07-Feb-14

            	
              OBROK

            	
                         2,941,202

            	
                                  2,925,000

            	
                            2,643,469

            
	
              30-Nov-09

            	
              10510@AB6

            	
              BRAMBLES
      USA SER B GTD SR UNSEC NT

            	
              5.77

            	
              04-Aug-14

            	
              AXIOM

            	
                         4,000,000

            	
                                  4,000,000

            	
                            4,233,800

            
	
              30-Nov-09

            	
              Q0307#AA6

            	
              AMCOR
      LIMITED SR NTS SER A

            	
              5.03

            	
              17-Dec-09

            	
              AXIOM

            	
                         4,996,301

            	
                                  5,000,000

            	
                            5,006,200

            
	
              30-Nov-09

            	
              N0060#AB4

            	
              ADIDAS
      INTL FIN BV SER B SR NT

            	
              5.25

            	
              24-Jan-11

            	
              AXIOM

            	
                       13,071,498

            	
                                13,000,000

            	
                           13,440,960

            
	
              30-Nov-09

            	
              99BLFS9A6

            	
              FRESENIUS
      MED CARE HLDGS INC TRNCH B T

            	
              1.9725

            	
              31-Mar-11

            	
              OBROK

            	
                         1,794,720

            	
                                  1,793,963

            	
                            1,720,518

            
	
              30-Nov-09

            	
              75952AAF4

            	
              RELIANT
      ENERGY MID ATL PWR HLDGS

            	
              9.237

            	
              02-Jul-17

            	
              IDSI

            	
                       19,787,369

            	
                                19,761,805

            	
                           20,255,850

            
	
              30-Nov-09

            	
              Q2759#AM9

            	
              CONSOLIDATED
      PRESS FIN SER L GTD SR NT

            	
              5.56

            	
              09-Jun-14

            	
              AXIOM

            	
                       10,233,257

            	
                                10,250,000

            	
                           10,138,070

            
	
              30-Nov-09

            	
              Q8277*AF8

            	
              SANTOS
      FINANCE LTD SER B SR NTS

            	
              5.85

            	
              03-Oct-12

            	
              AXIOM

            	
                       12,963,762

            	
                                13,000,000

            	
                           13,749,320

            
	
              30-Nov-09

            	
              33761NA*0

            	
              FIRSTSERVICE
      INC SEC

            	
              5.44

            	
              01-Apr-15

            	
              AXIOM

            	
                       19,142,510

            	
                                20,000,000

            	
                           21,396,600

            
	
              30-Nov-09

            	
              798737AA0

            	
              SAN
      MANUEL ENTERTAINMENT SR SEC 2004-A

            	
              5.69

            	
              01-Dec-15

            	
              AXIOM

            	
                       15,978,635

            	
                                16,000,000

            	
                           15,608,640

            
	
              30-Nov-09

            	
              507199AB3

            	
              LAGUNA
      DEV CORP ENTERPRISE TXBL REV BD

            	
              6.66

            	
              01-Jun-15

            	
              AXIOM

            	
                       13,100,000

            	
                                13,100,000

            	
                           12,529,888

            
	
              30-Nov-09

            	
              48268@AH7

            	
              KPMG
      LLP SER 2009 SR NT

            	
              5.71

            	
              28-Oct-16

            	
              AXIOM

            	
                       29,881,000

            	
                                30,000,000

            	
                           30,336,000

            
	
              30-Nov-09

            	
              Q9194#AK1

            	
              TRANSURBAN
      FIN CO PTY SER C 2006-1 DEF

            	
              5.95

            	
              14-Nov-21

            	
              AXIOM

            	
                       11,446,779

            	
                                11,923,144

            	
                           13,208,102

            
	
              30-Nov-09

            	
              74734*AC2

            	
              QINETIQ
      NORTH AMERICA INC SER C GTD SR

            	
              7.13

            	
              05-Feb-16

            	
              AXIOM

            	
                         5,000,000

            	
                                  5,000,000

            	
                            5,700,850

            
	
              30-Nov-09

            	
              W7468#AB7

            	
              SANDVIK
      SR NTS

            	
              5.13

            	
              06-Oct-20

            	
              AXIOM

            	
                       23,351,087

            	
                                25,000,000

            	
                           21,270,000

            
	
              30-Nov-09

            	
              Q9768*AB1

            	
              JOHN
      FAIRFAX PUBLICATIONS SER B GTD SR

            	
              6.35

            	
              10-Jul-14

            	
              AXIOM

            	
                       13,140,754

            	
                                13,000,000

            	
                           11,713,780

            
	
              30-Nov-09

            	
              74932#AA2

            	
              RC
      CEMENT HLDG SER A GTD SR NT

            	
              6.6

            	
              29-May-10

            	
              AXIOM

            	
                         2,666,697

            	
                                  2,666,697

            	
                            2,713,338

            
	
              30-Nov-09

            	
              372460A@4

            	
              GENUINE
      PARTS CO SER B SR NTS

            	
              6.23

            	
              30-Nov-11

            	
              AXIOM

            	
                       25,982,504

            	
                                26,040,000

            	
                           27,644,324

            
	
              30-Nov-09

            	
              479142B*1

            	
              JOHNSON
      MATTHEY PLC SER C SR NTS

            	
              4.95

            	
              26-Mar-15

            	
              AXIOM

            	
                       14,355,745

            	
                                15,000,000

            	
                           15,795,600

            
	
              30-Nov-09

            	
              99BLBX9A9

            	
              BNY
      CONVERGEX GROUP LLC TRNCH B 1ST LI

            	
              3.32

            	
              29-Sep-13

            	
              OBROK

            	
                         5,646,111

            	
                                  5,642,857

            	
                            5,395,982

            
	
              30-Nov-09

            	
              Q7397#AG9

            	
              PRATT
      FIN PROPRIETARY LTD SER A SR NT

            	
              5.6

            	
              17-Dec-13

            	
              AXIOM

            	
                       22,500,000

            	
                                22,500,000

            	
                           23,703,300

            
	
              30-Nov-09

            	
              45957@AE6

            	
              INTERNATIONAL
      GROUP SR NTS SER B

            	
              5.98

            	
              01-Nov-16

            	
              AXIOM

            	
                         8,343,685

            	
                                  8,500,000

            	
                            8,111,295

            
	
              30-Nov-09

            	
              G7578#AA4

            	
              RITTON
      MARITIME(FIRST OMEGA) 2005-A GT

            	
              5.12

            	
              15-Jun-12

            	
              AXIOM

            	
                       11,000,000

            	
                                11,000,000

            	
                           11,684,200

            
	
              30-Nov-09

            	
              26969PA@7

            	
              EAGLE
      MTERIALS INC. TR B SR NTS

            	
              5.38

            	
              15-Nov-15

            	
              AXIOM

            	
                       21,785,000

            	
                                21,785,000

            	
                           22,229,196

            
	
              30-Nov-09

            	
              C7277*AB4

            	
              PIPELINE
      MANAGEMENT SER B GTD SR NT

            	
              6.1

            	
              28-Oct-14

            	
              MANUL

            	
                       31,026,487

            	
                                32,916,000

            	
                           32,012,117

            
	
              30-Nov-09

            	
              G1418#AG8

            	
              CARIBBEAN
      UTILITIES CO LTD SR NT

            	
              5.09

            	
              01-Jun-18

            	
              AXIOM

            	
                       12,211,227

            	
                                12,600,000

            	
                           12,922,308

            
	
              30-Nov-09

            	
              74731@BK4

            	
              QUAD/GRAPHICS
      INC SR SEC SER D

            	
              7.92

            	
              11-Dec-23

            	
              AXIOM

            	
                       11,060,403

            	
                                10,000,000

            	
                            8,843,200

            
	
              30-Nov-09

            	
              05577@AH3

            	
              BTMU
      CAP CORP SER B (BNSF 2009-A)

            	
              6.55

            	
              26-Feb-21

            	
              AXIOM

            	
                       12,205,637

            	
                                12,205,637

            	
                           14,036,482

            
	
              30-Nov-09

            	
              83239*AA7

            	
              SMITHS
      GROUP PP INC GTD SR NT

            	
              5.45

            	
              28-Jan-13

            	
              AXIOM

            	
                       52,130,752

            	
                                52,500,000

            	
                           55,699,875

            
	
              30-Nov-09

            	
              335867E@2

            	
              FIRST
      OMNI BANK NA ICX TR 98A-1 SER CH

            	
              6.65

            	
              02-Jan-20

            	
              MANUL

            	
                         1,477,159

            	
                                  2,595,424

            	
                            2,595,424

            
	
              30-Nov-09

            	
              89732#AA2

            	
              TROY
      CHEMICAL CORP INC AMENDED & RESTA

            	
              5.71

            	
              09-Aug-12

            	
              AXIOM

            	
                         9,906,014

            	
                                10,000,000

            	
                           10,077,800

            
	
              30-Nov-09

            	
              25247@AA6

            	
              DHC
      LNL ROSEBURG RET RES DEFEASANCE NT

            	
              5.69

            	
              10-Mar-16

            	
              AXIOM

            	
                         2,440,161

            	
                                  2,440,161

            	
                            2,760,505

            
	
              30-Nov-09

            	
              82894*AS6

            	
              JR
      SIMPLOT COMPANY SR NTS

            	
              6.14

            	
              01-Mar-15

            	
              AXIOM

            	
                         8,703,811

            	
                                  9,000,000

            	
                           10,043,280

            
	
              30-Nov-09

            	
              20557#AE1

            	
              COMPUTERSHARE
      US GTD SR NT

            	
              6.34

            	
              29-Jul-18

            	
              AXIOM

            	
                       31,216,966

            	
                                31,000,000

            	
                           34,866,940

            
	
              30-Nov-09

            	
              36720#AD1

            	
              GAS
      TRANSMISSION NORTHWEST SR NTS D

            	
              5.69

            	
              01-Jun-35

            	
              AXIOM

            	
                       11,912,317

            	
                                12,000,000

            	
                           11,041,200

            
	
              30-Nov-09

            	
              84861#AA6

            	
              SPIRITS
      OF ST LOUIS BASKETBALL SR SEC

            	
              6.09

            	
              31-Dec-21

            	
              AXIOM

            	
                       26,233,614

            	
                                26,233,614

            	
                           26,525,857

            
	
              30-Nov-09

            	
              78443*AJ0

            	
              SLBP
      HLDGS CORP SER B SR NT

            	
              7.9

            	
              30-Jun-14

            	
              MANUL

            	
                       16,000,000

            	
                                16,000,000

            	
                           16,240,000

            
	
              30-Nov-09

            	
              29266RJ@8

            	
              ENERGIZER
      HOLDINGS INC SER 2006-D SR N

            	
              6.24

            	
              30-Jun-16

            	
              AXIOM

            	
                         6,000,000

            	
                                  6,000,000

            	
                            6,769,080

            
	
              30-Nov-09

            	
              99BLCD9A2

            	
              CHS/COMMUNITY
      HEALTH SYS INC TRNCH DD

            	
              2.56

            	
              25-Jul-14

            	
              OBROK

            	
                            272,745

            	
                                     272,745

            	
                               249,504

            
	
              30-Nov-09

            	
              52465#AH8

            	
              LEGG
      MASON MTG CAP TR 99-CTL-2 (RA 9)

            	
              7.11

            	
              10-Mar-21

            	
              AXIOM

            	
                       10,330,585

            	
                                12,871,112

            	
                           11,307,143

            
	
              30-Nov-09

            	
              79603#AR2

            	
              SAMSON
      INVESTMENT CO SR NT

            	
              7.58

            	
              19-Mar-14

            	
              AXIOM

            	
                       40,000,000

            	
                                40,000,000

            	
                           45,918,000

            
	
              30-Nov-09

            	
              58528#EV5

            	
              MEIJER,
      INC. E-1

            	
              7.64

            	
              01-Jun-24

            	
              AXIOM

            	
                         1,019,220

            	
                                     952,500

            	
                            1,181,852

            
	
              30-Nov-09

            	
              943315B@9

            	
              WAUSAU
      PAPER CORP SER C SR. NTS

            	
              7.43

            	
              31-Aug-11

            	
              AXIOM

            	
                       15,222,368

            	
                                15,000,000

            	
                           15,432,150

            
	
              30-Nov-09

            	
              39063@AC4

            	
              GREAT
      LAKES GAS TRANS LTD PART SR NT A

            	
              8.74

            	
              30-Oct-11

            	
              AXIOM

            	
                         3,843,093

            	
                                  3,800,000

            	
                            4,108,294

            
	
              30-Nov-09

            	
              07783@AB2

            	
              BELK
      INC NTS SER B

            	
              5.31

            	
              12-Jul-15

            	
              MANUL

            	
                         5,428,649

            	
                                  6,000,000

            	
                            6,036,000

            
	
              30-Nov-09

            	
              Y3915@AA7

            	
              INDIAN
      OIL CORP LTD SR NT

            	
              6.12

            	
              01-Aug-18

            	
              AXIOM

            	
                       21,000,000

            	
                                21,000,000

            	
                           18,714,360

            
	
              30-Nov-09

            	
              G6843#AD9

            	
              CARNIVAL
      (P&O PRINCESS) SR SER D

            	
              7.09

            	
              16-Feb-16

            	
              AXIOM

            	
                       15,867,330

            	
                                15,000,000

            	
                           15,901,200

            
	
              30-Nov-09

            	
              33632*UB1

            	
              FIRST
      SECURITY BANK OF UTAH PTC CVS LE

            	
              8.19

            	
              10-Jan-23

            	
              AXIOM

            	
                       13,380,262

            	
                                11,656,819

            	
                           14,254,075

            
	
              30-Nov-09

            	
              37930EAG1

            	
              GLITNIR
      BANKI HF SR NT 144A

            	
              7.32

            	
              10-Jan-13

            	
              MANUL

            	
                         1,016,807

            	
                                17,500,000

            	
                               875,000

            
	
              30-Nov-09

            	
              L7919*AA0

            	
              RELUXCO
      INTL SA SER A GTD SR NT

            	
              5.51

            	
              27-Mar-14

            	
              AXIOM

            	
                       13,000,000

            	
                                13,000,000

            	
                           13,401,960

            
	
              30-Nov-09

            	
              26439#AC6

            	
              DUKE
      ENERGY CORP NTS

            	
              6.9

            	
              30-Dec-16

            	
              AXIOM

            	
                         7,466,667

            	
                                  7,466,667

            	
                            8,342,432

            
	
              30-Nov-09

            	
              05577@AN0

            	
              BTMU
      CAP CORP (UPRR 2009A) EQ NT

            	
              4.83

            	
              15-Oct-24

            	
              AXIOM

            	
                       11,000,000

            	
                                11,000,000

            	
                           11,321,530

            
	
              30-Nov-09

            	
              99BLCC9D8

            	
              CHARTER
      COMM OPERATING LLC TERM LOAN

            	
              6.25

            	
              06-Mar-14

            	
              OBROK

            	
                         1,965,000

            	
                                  1,965,000

            	
                            1,811,494

            
	
              30-Nov-09

            	
              71912NAA5

            	
              PHOENIX
      PARK FUNDING LTD SR BDS 144A

            	
              7.267

            	
              01-Apr-13

            	
              AXIOM

            	
                         3,615,651

            	
                                  3,615,651

            	
                            3,904,072

            
	
              30-Nov-09

            	
              36218#AA6

            	
              GPI
      PROPERTIES 1995 LLC SECD NT

            	
              7.49

            	
              01-Mar-16

            	
              MANUL

            	
                       10,520,665

            	
                                  9,999,806

            	
                           10,500,796

            
	
              30-Nov-09

            	
              25244@AA9

            	
              DHC
      JP COUNTRY VLG DEV II DEFEASANCE L

            	
              5.66

            	
              01-Jun-14

            	
              AXIOM

            	
                         1,065,511

            	
                                  1,077,863

            	
                            1,244,318

            
	
              30-Nov-09

            	
              22281NA*4

            	
              COVANTA
      ENERGY CORP TRNCH B TERM LOAN

            	
              1.875

            	
              09-Feb-14

            	
              OBROK

            	
                         3,275,659

            	
                                  3,266,753

            	
                            3,041,347

            
	
              30-Nov-09

            	
              99BLWD9B8

            	
              WIND
      TELECOMUNICAZIONI SPA TRNCH B&C T

            	
              3.92563

            	
              17-Dec-13

            	
              OBROK

            	
                         4,971,560

            	
                                  5,000,000

            	
                            4,775,000

            
	
              30-Nov-09

            	
              81725TC*9

            	
              SENSIENT
      TECHNOLOGIES CORP SER B SR NT

            	
              7.31

            	
              28-Nov-13

            	
              AXIOM

            	
                       11,000,000

            	
                                11,000,000

            	
                           12,682,560

            
	
              30-Nov-09

            	
              63615#AA9

            	
              NATL
      FOOTBALL LEAGUE 2001 SR NT

            	
              6.69

            	
              15-Oct-16

            	
              AXIOM

            	
                       18,159,786

            	
                                17,651,703

            	
                           18,983,524

            
	
              30-Nov-09

            	
              72925#AC1

            	
              PLUM
      CREEK TIMBERLANDS SER J SR NTS

            	
              7.66

            	
              01-Oct-11

            	
              AXIOM

            	
                         3,833,138

            	
                                  3,764,471

            	
                            4,047,183

            
	
              30-Nov-09

            	
              335867E#0

            	
              FIRST
      OMNI BANK NA ICX TR 98A-1 SER G

            	
              6.65

            	
              02-Jul-20

            	
              MANUL

            	
                            430,496

            	
                                     760,001

            	
                               760,001

            
	
              30-Nov-09

            	
              51265#AA7

            	
              LAKEWOOD
      PIPELINE EASEMENT ARCO LESSEE

            	
              8.11

            	
              01-Apr-26

            	
              AXIOM

            	
                         1,493,363

            	
                                  1,275,551

            	
                            1,578,150

            
	
              30-Nov-09

            	
              92977@AD6

            	
              WACHOVIA
      DEV GTD ROSS STORES CR PRM NT

            	
              5.65

            	
              23-Jul-13

            	
              AXIOM

            	
                       12,000,000

            	
                                12,000,000

            	
                           12,904,800

            
	
              30-Nov-09

            	
              40410*AA8

            	
              HBI
      BRANDED APPAREL LTD INC 2ND LIEN T

            	
              3.99375

            	
              15-Apr-14

            	
              OBROK

            	
                         1,500,000

            	
                                  1,500,000

            	
                            1,492,500

            
	
              30-Nov-09

            	
              21089#AA4

            	
              CONTINENTAL
      AUTO REC INC. SER A SR SUB

            	
              12

            	
              30-Apr-05

            	
              MANUL

            	
                            525,934

            	
                                  8,765,044

            	
                               525,903

            
	
              30-Nov-09

            	
              Q9768*AC9

            	
              JOHN
      FAIRFAX PUBLICATIONS SER C GTD SR

            	
              6.48

            	
              10-Jul-17

            	
              AXIOM

            	
                         8,000,000

            	
                                  8,000,000

            	
                            6,488,240

            
	
              30-Nov-09

            	
              48003#AH5

            	
              JONES
      EDWARD D & CO LP SB CAP NT

            	
              7.33

            	
              12-Jun-14

            	
              AXIOM

            	
                       12,000,000

            	
                                12,000,000

            	
                           12,490,560

            
	
              30-Nov-09

            	
              42210*BC1

            	
              H E
      BUTT GROCERY CO SER B SR NTS

            	
              6.68

            	
              01-Mar-19

            	
              AXIOM

            	
                         7,142,581

            	
                                  7,000,000

            	
                            7,848,050

            
	
              30-Nov-09

            	
              72925#AH0

            	
              PLUM
      CREEK TIMBERLANDS SER N SR NT

            	
              5.48

            	
              21-Jan-10

            	
              AXIOM

            	
                       15,057,884

            	
                                15,057,884

            	
                           15,115,556

            
	
              30-Nov-09

            	
              05577@AG5

            	
              BTMU
      CAP CCRP SER A (BNSF 2009-A)

            	
              6.55

            	
              26-Feb-21

            	
              AXIOM

            	
                       12,681,940

            	
                                12,681,940

            	
                           14,584,231

            
	
              30-Nov-09

            	
              376085AA4

            	
              GILROY
      ENERGY CTR LLC 144A SR NT

            	
              4

            	
              15-Aug-11

            	
              AXIOM

            	
                         1,416,810

            	
                                  1,412,506

            	
                            1,418,848

            
	
              30-Nov-09

            	
              Q2264@AA5

            	
              CHALLENGER
      LIFE NO 2 LTD SER A SB NT

            	
              6.29

            	
              07-Dec-16

            	
              AXIOM

            	
                         5,800,000

            	
                                  5,800,000

            	
                            5,738,404

            
	
              30-Nov-09

            	
              58526#AW9

            	
              MEIJER
      FINANCE INC SEC NTS B2

            	
              8.13

            	
              01-Sep-10

            	
              AXIOM

            	
                         2,851,631

            	
                                  2,811,900

            	
                            2,949,008

            
	
              30-Nov-09

            	
              41242*AA0

            	
              HARDWOOD
      FDG SER A SR SEC NTS

            	
              4.3

            	
              07-Jun-10

            	
              AXIOM

            	
                         7,938,786

            	
                                  8,000,000

            	
                            8,043,200

            
	
              30-Nov-09

            	
              97181#CE1

            	
              WILMINGTON
      TR SERA NT AMOCPOLY EQ TR95

            	
              7.52

            	
              01-Jul-17

            	
              AXIOM

            	
                         1,180,716

            	
                                  1,030,391

            	
                            1,178,653

            
	
              30-Nov-09

            	
              32485*AB3

            	
              FIRST
      NATL BK COM(BK ONE)SER B SR SEC

            	
              12.01

            	
              01-Nov-10

            	
              AXIOM

            	
                         3,140,344

            	
                                  3,090,698

            	
                            3,290,450

            
	
              30-Nov-09

            	
              D8884#AC0

            	
              VOITH
      AG SER C SR NTS

            	
              6.23

            	
              17-Aug-19

            	
              AXIOM

            	
                         4,887,255

            	
                                  5,000,000

            	
                            5,266,400

            
	
              30-Nov-09

            	
              86357KAC7

            	
              STRUCTURED
      PLACEMENTS TR SER PAC 94-1

            	
              2.9194862

            	
              17-Jul-13

            	
              AXIOM

            	
                            551,145

            	
                                     545,703

            	
                               546,424

            
	
              30-Nov-09

            	
              031100B*0

            	
              AMETEK
      INC SER A SR NT

            	
              6.2

            	
              18-Dec-17

            	
              AXIOM

            	
                       34,000,000

            	
                                34,000,000

            	
                           36,628,200

            
	
              30-Nov-09

            	
              Q9194#AA3

            	
              TRANSURBAN
      FIN CO PTY TR-A 2004-1 SR N

            	
              5.02

            	
              07-Dec-14

            	
              AXIOM

            	
                         7,711,069

            	
                                  8,250,000

            	
                            9,037,133

            
	
              30-Nov-09

            	
              75074#AB5

            	
              RAIL
      CO VII INVTRS(CARGILL-LESSEE)6.96

            	
              6.96

            	
              01-Apr-11

            	
              AXIOM

            	
                         2,501,971

            	
                                  2,501,971

            	
                            2,670,804

            
	
              30-Nov-09

            	
              39063@AF7

            	
              GREAT
      LAKES GAS TRANS LP SER A SR NTS

            	
              6.73

            	
              25-Mar-18

            	
              AXIOM

            	
                       26,610,186

            	
                                25,200,000

            	
                           27,189,792

            
	
              30-Nov-09

            	
              99BLAC9B4

            	
              AMSCAN
      HLDGS INC TERM LOAN LN337597

            	
              2.535

            	
              01-May-13

            	
              OBROK

            	
                         3,900,000

            	
                                  3,900,000

            	
                            3,549,000

            
	
              30-Nov-09

            	
              46656#AA4

            	
              JACK
      STEARNS (WALGREEN) 6.32% CTL NT

            	
              6.22

            	
              01-Oct-27

            	
              AXIOM

            	
                         3,059,378

            	
                                  3,059,378

            	
                            3,468,632

            
	
              30-Nov-09

            	
              099514A@0

            	
              BORAL
      LTD GTD SR NT

            	
              7.12

            	
              16-Apr-18

            	
              AXIOM

            	
                       25,000,000

            	
                                25,000,000

            	
                           27,316,750

            
	
              30-Nov-09

            	
              36130@AA3

            	
              G
      & R PARTNERS LLC(WALGREEN) 6.09% CTL

            	
              5.99

            	
              01-May-29

            	
              AXIOM

            	
                         3,026,091

            	
                                  3,026,091

            	
                            3,371,005

            
	
              30-Nov-09

            	
              48124@AA6

            	
              JP
      LEGION CROSSING DEFEASANCE

            	
              8.25

            	
              01-Jan-16

            	
              AXIOM

            	
                         1,385,944

            	
                                  1,279,118

            	
                            1,550,789

            
	
              30-Nov-09

            	
              99BLWD9A0

            	
              WIND
      TELECOMUNICAZIONI SPA 2ND LIEN TR

            	
              7.92563

            	
              17-Dec-14

            	
              OBROK

            	
                         4,000,000

            	
                                  4,000,000

            	
                            4,020,000

            
	
              30-Nov-09

            	
              501673AA5

            	
              LA
      ARENA FUNDING LLC ARENA REV-BCKD

            	
              7.656

            	
              15-Dec-26

            	
              AXIOM

            	
                       18,146,270

            	
                                18,146,270

            	
                           19,362,614

            
	
              30-Nov-09

            	
              L7919*AC6

            	
              RELUXCO
      INTL SA SER C GTD SR NT

            	
              5.71

            	
              27-Mar-19

            	
              AXIOM

            	
                       27,000,000

            	
                                27,000,000

            	
                           26,018,550

            
	
              30-Nov-09

            	
              N4661#AD5

            	
              ISTELLO
      HLDG BV SER B SR GTD NT

            	
              9.5

            	
              01-Apr-16

            	
              AXIOM

            	
                         7,082,505

            	
                                11,364,395

            	
                            6,980,239

            
	
              30-Nov-09

            	
              N0431#AF7

            	
              ARUBA
      SER D SR NTS

            	
              6.19

            	
              30-Oct-12

            	
              MANUL

            	
                         5,013,834

            	
                                  5,000,000

            	
                            5,013,629

            
	
              30-Nov-09

            	
              56633#AF0

            	
              MARCUS
      CORP SER C TRANCHE B SR NTS

            	
              6.82

            	
              01-May-14

            	
              AXIOM

            	
                       15,723,767

            	
                                15,714,285

            	
                           15,254,799

            
	
              30-Nov-09

            	
              359694C#1

            	
              FULLER
      H B COMPANY SR NTS

            	
              6.6

            	
              02-Jun-10

            	
              AXIOM

            	
                         7,080,191

            	
                                  7,080,000

            	
                            7,225,636

            
	
              30-Nov-09

            	
              10510@AC4

            	
              BRAMBLES
      USA SR NTS

            	
              5.94

            	
              04-Aug-16

            	
              AXIOM

            	
                       19,714,327

            	
                                20,000,000

            	
                           20,923,800

            
	
              30-Nov-09

            	
              47922*AM8

            	
              JOHNSON
      (SC) & SON SR NTS

            	
              6.74

            	
              04-Dec-13

            	
              AXIOM

            	
                       10,123,434

            	
                                10,000,000

            	
                           10,798,600

            
	
              30-Nov-09

            	
              616912AA9

            	
              MORGANBERRY
      CORPORATION CL A BTD MTG N

            	
              7.802

            	
              31-Mar-19

            	
              IDSI

            	
                         5,646,055

            	
                                  5,646,055

            	
                            5,579,827

            
	
              30-Nov-09

            	
              031100C@7

            	
              AMETEK
      INC SER E SR NT

            	
              7.08

            	
              17-Sep-18

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           11,344,200

            
	
              30-Nov-09

            	
              30243QAB2

            	
              FEP
      REC FNDG III 2000-1 CL A2 144A W/O

            	
              8.08654

            	
              18-May-08

            	
              MANUL

            	
                                      2

            	
                                  2,374,401

            	
                                     237

            
	
              30-Nov-09

            	
              361652A*1

            	
              GFI
      GROUP INC SR SEC NT

            	
              8.17

            	
              30-Jan-13

            	
              AXIOM

            	
                       25,864,057

            	
                                25,500,000

            	
                           25,571,655

            
	
              30-Nov-09

            	
              250847G*5

            	
              DETROIT
      EDISON 1ST MTG

            	
              5.19

            	
              01-Oct-23

            	
              AXIOM

            	
                       11,976,967

            	
                                13,000,000

            	
                           12,998,440

            
	
              30-Nov-09

            	
              942749A#9

            	
              WATTS
      WATER TECHNOLOGIES INC SR NT

            	
              5.85

            	
              30-Apr-16

            	
              AXIOM

            	
                       30,000,000

            	
                                30,000,000

            	
                           30,723,900

            
	
              30-Nov-09

            	
              12532*AA0

            	
              BURLINGTON
      NORTHERN SANTA FE CFT BNSF2

            	
              5.66

            	
              15-Jan-23

            	
              AXIOM

            	
                         2,498,625

            	
                                  2,592,593

            	
                            2,752,633

            
	
              30-Nov-09

            	
              28253@AA1

            	
              DHC
      LNL QUAIL RIDGE DEFEASANCE LLC NT

            	
              9.05

            	
              15-Jul-10

            	
              AXIOM

            	
                       27,321,935

            	
                                27,263,657

            	
                           28,746,255

            
	
              30-Nov-09

            	
              16166#AD4

            	
              CHASKA
      CAP CORP SECD EQ NT (TR 4)

            	
              6.99

            	
              01-Apr-11

            	
              AXIOM

            	
                            302,403

            	
                                     302,403

            	
                               322,930

            
	
              30-Nov-09

            	
              Q3629#AD5

            	
              ETSA
      UTILS FIN PTY SER B GTD SR NTS

            	
              5.89

            	
              16-Sep-16

            	
              AXIOM

            	
                       35,000,000

            	
                                35,000,000

            	
                           37,817,150

            
	
              30-Nov-09

            	
              09951#AE6

            	
              BORAL
      USA SR NTS

            	
              5.42

            	
              09-May-15

            	
              AXIOM

            	
                       13,699,652

            	
                                14,000,000

            	
                           14,276,220

            
	
              30-Nov-09

            	
              423012A*4

            	
              HEINEKEN
      NV SER A SR NT

            	
              5.86

            	
              15-Aug-15

            	
              AXIOM

            	
                       10,000,000

            	
                                10,000,000

            	
                           11,359,300

            
	
              30-Nov-09

            	
              63615#AD3

            	
              NATIONAL
      FOOTBALL LEAGUE SER A SR NT

            	
              5.6

            	
              31-Mar-24

            	
              AXIOM

            	
                       12,000,000

            	
                                12,000,000

            	
                           12,434,640

            
	
              30-Nov-09

            	
              88713UAC0

            	
              TIMBERSTAR
      TR I 2006-1 CL B CMBS

            	
              5.7467

            	
              15-Oct-36

            	
              IDSI

            	
                         7,000,000

            	
                                  7,000,000

            	
                            6,370,000

            
	
              30-Nov-09

            	
              84901#AA8

            	
              SPOKANE
      ENERGY FDG TR SR SEC NTS

            	
              7.327236

            	
              31-Jan-15

            	
              AXIOM

            	
                         9,921,424

            	
                                  9,533,471

            	
                           10,333,138

            
	
              30-Nov-09

            	
              68278#AB4

            	
              ONESTEEL
      US INV 2008A TR 2 GTD SR NT

            	
              7.33

            	
              09-Jul-18

            	
              AXIOM

            	
                       40,290,673

            	
                                40,000,000

            	
                           45,522,800

            
	
              30-Nov-09

            	
              53028*AA5

            	
              LIBERTY
      BOILING SPRINGS LLC(WALGREEN)

            	
              6.71

            	
              10-Dec-28

            	
              AXIOM

            	
                         2,492,818

            	
                                  2,492,818

            	
                            2,935,019

            
	
              30-Nov-09

            	
              G4691*AB5

            	
              IAWS
      FINANCE PP LTD GTD SER B SR NT

            	
              5.86

            	
              13-Jun-17

            	
              AXIOM

            	
                       25,000,000

            	
                                25,000,000

            	
                           27,154,250

            
	
              30-Nov-09

            	
              Q8773#AK2

            	
              STOCKLAND
      FIN PTY LTD SER D GTD SR NT

            	
              4.99

            	
              14-Jul-15

            	
              AXIOM

            	
                       20,000,000

            	
                                20,000,000

            	
                           19,018,800

            
	
              30-Nov-09

            	
              83787#AA9

            	
              SOUTH
      FT MEADE PRTNRSHP SR SEC CARGILL

            	
              6.92

            	
              13-Dec-10

            	
              AXIOM

            	
                         2,926,404

            	
                                  2,891,316

            	
                            3,006,448

            
	
              30-Nov-09

            	
              78405#AA1

            	
              SBM
      DIXIE LLC (WALGREEN) 5.60% CTL

            	
              5.5

            	
              10-Sep-29

            	
              AXIOM

            	
                         3,319,209

            	
                                  3,319,209

            	
                            3,553,877

            
	
              30-Nov-09

            	
              72349CAA0

            	
              PINNACLE
      TOWERS ACQ HLDGS 2009-1 A1 SR

            	
              6.25

            	
              15-Aug-19

            	
              MANUL

            	
                       25,884,639

            	
                                26,000,000

            	
                           26,847,600

            
	
              30-Nov-09

            	
              21864*AE1

            	
              CORDOVA
      FUNDING SR SEC NTS A5 144A WO

            	
              8.48

            	
              15-Dec-19

            	
              AXIOM

            	
                            609,857

            	
                                     612,064

            	
                               559,623

            
	
              30-Nov-09

            	
              15150#AA0

            	
              CENTER
      LAND CO INC FLEMING GTD PROM NT

            	
              7.5

            	
              01-Dec-13

            	
              AXIOM

            	
                            588,014

            	
                                     569,869

            	
                               629,079

            
	
              30-Nov-09

            	
              99BLAK9C4

            	
              ARAMARK
      CORP TRNCH B TERM LOAN LN29580

            	
              3.095

            	
              26-Jan-14

            	
              OBROK

            	
                            885,754

            	
                                     890,451

            	
                               806,553

            
	
              30-Nov-09

            	
              N0060#AC2

            	
              ADIDAS
      INTL FIN BV SER C SR NT

            	
              5.34

            	
              24-Jan-13

            	
              AXIOM

            	
                       26,000,000

            	
                                26,000,000

            	
                           27,730,300

            
	
              30-Nov-09

            	
              72349CAB8

            	
              PINNACLE
      TOWERS ACQ HLDGS 2009-1 CL A2

            	
              9

            	
              15-Aug-29

            	
              MANUL

            	
                       20,000,000

            	
                                20,000,000

            	
                           21,402,000

            
	
              30-Nov-09

            	
              388608AA9

            	
              GRAPEVINE
      FIN LLC SR SEC NON-REC NT

            	
              6.712

            	
              15-Jul-21

            	
              AXIOM

            	
                       58,337,878

            	
                                57,350,000

            	
                           57,381,543

            
	
              30-Nov-09

            	
              53154#AA7

            	
              LIBERTY-US
      125 LLC (WALGREEN) 6.81% CT

            	
              6.71

            	
              10-Dec-28

            	
              AXIOM

            	
                         2,848,936

            	
                                  2,848,936

            	
                            3,354,309

            
	
              30-Nov-09

            	
              P7883#AE6

            	
              PHOENIX
      PARK GAS PROCESSORS SER E SR S

            	
              5.76

            	
              01-Apr-20

            	
              AXIOM

            	
                       11,322,143

            	
                                11,322,143

            	
                           12,057,743

            
	
              30-Nov-09

            	
              868733A*7

            	
              SUREWEST
      COMMUNICATIONS SER B SR NT

            	
              4.74

            	
              13-Mar-13

            	
              AXIOM

            	
                       17,964,097

            	
                                18,400,000

            	
                           18,240,840

            
	
              30-Nov-09

            	
              96218PAM2

            	
              WEYERHAEUSER
      REAL ESTATE 144A SER E MT

            	
              6.12

            	
              17-Sep-12

            	
              IDSI

            	
                       13,550,705

            	
                                13,500,000

            	
                           13,862,610

            
	
              30-Nov-09

            	
              L8992#AA4

            	
              SYNGENTA
      FINANCE N.V. SR NTS - A

            	
              5.11

            	
              08-Dec-20

            	
              AXIOM

            	
                         6,514,999

            	
                                  7,000,000

            	
                            7,177,730

            


    

     

    


    


    
      
        
          
            An [*]
represents confidential information that has been omitted and filed separately
with the Securities and Exchange Commission.