Destinations Global Fixed Income Opportunities Fund

Overview

The Destinations Global Fixed Income Opportunities Fund seeks to maximize total return and invests in global investment grade credit, global high yield credit, global sovereign debt, bank loans, preferred securities and convertible securities.

Employing a multi-manager approach, the Fund currently allocates assets among the following sub-advisers:

CrossingBridge Advisors, LLC is the sub-adviser of CrossingBridge Corporate Credit which employs an opportunistic approach, allocating to high yield and investment grade credit opportunities.
DoubleLine Capital LP is the sub-adviser of DoubleLine Low Duration Emerging Markets which employs a value-oriented, research driven approach to identify countries and companies with the potential for improving credit fundamentals and ratings.
Nuveen Asset Management, LLC is the sub-adviser of Nuveen Preferred Securities Opportunities which employs a top-down quantitative driven process complemented by fundamental credit research analysis with a focus on relative value, resulting in a concentrated portfolio of preferred securities.

I Share Fund performance as of 9/30/18

Annualized

MTD

QTD

YTD

1 Year

3 Years

5 Years

Since
Inception

Destinations Global Fixed Income Opportunities Fund

0.19%

1.08%

1.00%

1.22%

N/A

2.97%

Bloomberg Barclays U.S. Universal Bond Index

-0.43%

0.27%

-1.41%

-1.00%

N/A

1.41%

*Effective June 30, 2018, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2019. The agreement may be amended or terminated only with the consent of the Board of Trustees.

Bloomberg Barclays U.S. Universal Bond Index Definition: Represents the union of the U.S. Aggregate Index, U.S. Corporate High Yield Index, Investment Grade 144A Index, Eurodollar Index, U.S. Emerging Markets Index, and the non-ERISA eligible portion of the CMBS Index. The index covers USD-denominated, taxable bonds that are rated either investment grade or high-yield. One cannot invest directly in an index.

An investment in the Destinations Global Fixed Income Opportunities Fund is subject to risk, including the possible loss of principal amount invested.

Derivatives, such as futures, involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues include tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund.

The prices of the Fund’s fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments and their agencies. Generally, the Fund’s fixed income securities will decrease in value if interest rates rise and vice versa. In a low interest rate environment, risks associated with rising rates are heightened.

Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies.

Risks of foreign investment tend to be greater in emerging markets, which tend to be more likely to experience political turmoil or rapid change to market or economic conditions.

The risk that debt instruments quality are predominantly speculative. Known as ‘junk bonds,’ these have a higher degree of default risk and may be less liquid than higher-rated bonds, may be subject to greater price volatility.

Liquidity risk refers to the possibility that securities cannot be readily sold within seven days at approximately the price at which the Fund has valued them.

With securities lending risk, the Fund may lose money from securities lending if, for example, it is delayed in or prevented from selling the collateral after the loan is made or recovering the securities loaned or if it incurs losses on the reinvestment of cash collateral.

Fund facts

Ticker: DGFFX
CUSIP: 10964R806
Benchmark: Bloomberg Barclays U.S. Universal Bond Index
Inception date: 03/20/2017
Gross expense ratio: 1.05%
Net expense ratio: 0.94%*

Daily NAV

Date:

11/16/2018

NAV:

$9.79
NAV change:

$0.00
Total assets ($m):

$801.4

Quick links

Management team

Jeffrey W. Raupp Chief Investment Officer
Jeffrey W. Raupp, CFA, MBA, is Chief Investment Officer at Brinker Capital with portfolio management responsibilities for the Destinations program. He also serves as chair of Brinker Capital’s asset allocation committee. Mr. Raupp joined Brinker Capital in 1996 as an operations manager and has been a portfolio manager for the Destinations program since 2001. Prior to joining Brinker Capital, Mr. Raupp was an electronic engineer and project manager for a small electronics firm. He also served as an officer in the United States Army. Mr. Raupp has a B.S. in Mechanical Engineering from the University of Delaware and a MBA in Finance from Villanova University.
Amy L. Magnotta Senior Vice President
Amy L. Magnotta, CFA, is a Senior Vice President at Brinker Capital with portfolio management responsibilities for the Destinations program. Ms. Magnotta joined Brinker Capital in 2006 as a senior analyst and has been portfolio manager for the Destinations program since 2007. Prior to joining Brinker Capital, Ms. Magnotta was an associate at Franklin Park Associates from 2004 to 2006 and an associate at BlackRock from 2001 to 2004. Ms. Magnotta has a B.S. in Finance from Lehigh University.
Leigh A. Lowman Investment Manager
Leigh A. Lowman, CFA is an Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Prior to joining Brinker Capital in 2015, Ms. Lowman was an outreach analyst for The Investment Fund for Foundations (TIFF) and a senior associate for Mondrian Investment Partners. Ms. Lowman was previously at Brinker Capital from 2004 to 2010 as an investment associate and operations analyst. Ms. Lowman has a B.A. in Economics from Wittenberg University.

Performance

I Share Fund performance as of 9/30/18

Annualized

MTD

QTD

YTD

1 Year

3 Years

5 Years

Since
Inception

Inception
Date

Gross
expense
ratio

Net
expense
ratio*

Destinations Global Fixed Income Opportunities Fund

0.19%

1.08%

1.00%

1.22%

N/A

2.97%

3/20/2017

1.05%

0.94%

Bloomberg Barclays U.S. Universal Bond Index

-0.43%

0.27%

-1.41%

-1.00%

N/A

1.41%

Holdings

Security Description	Ticker Symbol	Security ID	Security Type Description	Quantity	Base Market Value	Percent TNA
CANADIAN DOLLAR		CASHCAD	CURRENCY	-64,508.4500	-49,003.68	-.01
US DOLLARS		CASHUSD	CURRENCY	41,355,356.5600	41,355,356.56	5.06
FRONTERA ENERGY CORP	FECCF	35905B107	COMMON STOCK	21,182.0000	276,001.46	.03
AXIS CAPITAL HLDGS LTD /PFD/	AXS PRE	05461T305	PREFERRED STOCK	31,722.0000	732,778.20	.09
DAIRY FARMERS OF AMERICA /PFD/	DFRMP	23385H406	PREFERRED STOCK	1,000.0000	115,000.00	.01
DELPHI FINANCIAL GROUP PFD		247131303	PREFERRED STOCK	50,000.0000	1,125,000.00	.14
ENSTAR GROUP LTD /PFD/	ESGRP	29359U109	PREFERRED STOCK	42,868.0000	1,101,278.92	.13
FARM CREDIT BK OF TEXAS /PFD/	FCTXZ	30767E406	PREFERRED STOCK	21,710.0000	2,301,260.00	.28
RA PARENT INC /RESTRICTED/		33TG3R	COMMON STOCK	52.0400	2,063,089.02	.25
FORUM MERGER II CORP-CL A	FMCI	34986F103	COMMON STOCK	219,500.0000	2,089,640.00	.26
FORUM MERGER II WT EX 9/30/25		34986F111	WARRANTS	219,500.0000	109,750.00	.01
GMAC CAP 8.125% 2/15/40 /PFD/	ALLY PRA	361860208	PREFERRED STOCK	25,550.0000	670,943.00	.08
HUNTINGTON BANCSHARES IN /PFD/	HBANO	446150708	PREFERRED STOCK	54,847.0000	1,407,374.02	.17
KEYCORP /PREFERRED/	KEY PRI	493267702	PREFERRED STOCK	4,240.0000	111,512.00	.01
MORGAN STANLEY /PFD/	MS PRI	61761J406	PREFERRED STOCK	10,600.0000	277,508.00	.03
MORGAN STANLEY /PFD/	MS PRK	61762V606	PREFERRED STOCK	95,960.0000	2,418,192.00	.30
MORGAN STANLEY PFD	MS PRF	61763E207	PREFERRED STOCK	4,400.0000	117,964.00	.01
NY COMMUNITY BANCORP INC PREF	NYCB PRA	649445202	PREFERRED STOCK	20,000.0000	507,200.00	.06
NUSTAR ENERGY LP SER B /PFD/	NS PRB	67058H300	PREFERRED STOCK	45,000.0000	943,200.00	.12
REGIONS FINANCIAL CORP PFD	RF PRB	7591EP506	PREFERRED STOCK	35,972.0000	958,294.08	.12
APPVION INC		989713111	COMMON STOCK	101,912.0000	1,324,856.00	.16
ASPEN INSURANCE HLDG LTD /PFD/	AHL PRD	G05384162	PREFERRED STOCK	30,926.0000	706,349.84	.09
REPUBLIC OF AR 5.625% 01/26/22		040114HK9	GOVERNMENT BONDS	3,500,000.0000	3,150,000.00	.39
YPF SOCIEDAD ANO 8.5% 03/23/21		BD3J1L2	CORPORATE BONDS	2,400,000.0000	2,422,800.00	.30
PAMPA ENERGIA 7.375% 07/21/23		P7873PAE6	CORPORATE BONDS	1,600,000.0000	1,477,920.00	.18
BHP BILLITON FIN V/R 10/19/75		055451AX6	CORPORATE BONDS	550,000.0000	595,375.00	.07
CNOOC FINANCE 2.625% 05/05/20		12634GAA1	CORPORATE BONDS	3,915,000.0000	3,860,358.35	.47
QBE INSURANCE GRO V/R 12/02/44		BSSWBW2	CORPORATE BONDS	2,000,000.0000	2,050,000.00	.25
OAS INVESTMENTS 8.25% 10/19/19		A57902AA5	CORPORATE BONDS	400,000.0000	10,500.00	.00
ESAL GMBH 6.25% 02/05/23		A9617TAA9	CORPORATE BONDS	1,500,000.0000	1,473,750.00	.18
VOSTOK NEW 6.15% 06/14/22/SEK/		33TD4C	CORPORATE BONDS	1,000,000.0000	110,924.23	.01
CATLIN INSURANCE V/R PERPETUAL 144A PP		149206AA2	CORPORATE BONDS	1,000,000.0000	982,500.00	.12
DIGICEL GROUP L 8.25% 09/30/20		B8K3F98	CORPORATE BONDS	800,000.0000	572,008.00	.07
STOLT-NIELSEN 6.375% 09/21/22		BF2P5M4	CORPORATE BONDS	5,100,000.0000	4,857,750.00	.59
SHIP FINANCE IN 5.75% 10/15/21		G81075AF3	CORPORATE BONDS	3,233,000.0000	3,109,793.60	.38
ITAU UNIBANCO HL 6.2% 12/21/21		46556MAE2	CORPORATE BONDS	400,000.0000	413,804.00	.05
GLOBO COMMUNIC 4.875% 04/11/22		P47773AL3	CORPORATE BONDS	2,730,000.0000	2,706,112.50	.33
POSTMEDIA 8.25% 07/15/21/CAD/		73753MAA5	CORPORATE BONDS	893,000.0000	657,878.61	.08
AVISON YOUNG CAN 9.5% 12/15/21		05381NAA5	CORPORATE BONDS	1,708,000.0000	1,789,130.00	.22
EMERA INC V/R 06/15/76		290876AD3	CORPORATE BONDS	1,950,000.0000	2,032,875.00	.25
NOVA CHEMICALS 5.25% 06/01/27		66977WAR0	CORPORATE BONDS	2,328,000.0000	2,101,020.00	.26
CK HUTCHISON I 2.875% 04/05/22		12563UAA5	CORPORATE BONDS	2,630,000.0000	2,549,794.10	.31
NEXTEER AUTO G 5.875% 11/15/21		65341EAA8	CORPORATE BONDS	2,295,000.0000	2,335,286.18	.29
SPARC EM SPC PANA ZCP 12/05/22		846502AC6	CORPORATE BONDS	3,065,000.0000	2,769,993.75	.34
PERU ENHANCED PAS ZCP 06/02/25		B1VYKW9	CORPORATE BONDS	280,000.0000	241,850.00	.03
GRUPO AVAL LTD 4.75% 09/26/22		B8FB0M5	CORPORATE BONDS	2,400,000.0000	2,353,824.00	.29
SPARC EM SPC PANA ZCP 12/05/22		BF7TXZ0	CORPORATE BONDS	3,565,000.0000	3,221,904.40	.39
CK HUTCHISON I 2.875% 04/05/22		BYQCLD7	CORPORATE BONDS	3,080,000.0000	2,985,835.16	.36
AGROMERCANTIL S 6.25% 04/10/19		G0131LAA6	CORPORATE BONDS	1,250,000.0000	1,253,012.50	.15
GUANAY FINANCE LTD 6% 12/15/20		G4182JAA1	CORPORATE BONDS	1,134,913.1570	1,140,587.72	.14
INTEROCEANICA IV 0% 11/30/18		P52715AA0	CORPORATE BONDS	92,053.1980	91,510.08	.01
BANCO SANTANDE 3.875% 09/20/22		05967FAB2	CORPORATE BONDS	1,850,000.0000	1,833,793.09	.22
BANCO DEL ESTA 3.875% 02/08/22		05968AAA4	CORPORATE BONDS	5,295,000.0000	5,259,040.23	.64
BANCO SANTANDER 2.5% 12/15/20		05970FAA9	CORPORATE BONDS	300,000.0000	291,912.00	.04
CELULOSA ARAUC 4.75% 01/11/22		151191AW3	CORPORATE BONDS	500,000.0000	505,000.00	.06
REPUBLIC OF CHI 3.25% 09/14/21		168863AW8	GOVERNMENT BONDS	500,000.0000	497,525.00	.06
REPUBLIC OF CHI 2.25% 10/30/22		168863BN7	GOVERNMENT BONDS	8,825,000.0000	8,412,078.25	1.03
E.CL SA 5.625% 01/15/21		P36020AA6	CORPORATE BONDS	1,400,000.0000	1,442,000.00	.18
INVERSIONES CMPC 4.5% 04/25/22		P58073AA8	CORPORATE BONDS	5,135,000.0000	5,154,125.87	.63
SACI FALABELLA 3.75% 04/30/23		P82290AA8	CORPORATE BONDS	1,440,000.0000	1,405,015.60	.17
TELEFONICA CHI 3.875% 10/12/22		P9047EAA6	CORPORATE BONDS	4,350,000.0000	4,276,269.20	.52
ECOPETROL SA 7.625% 07/23/19	EC19	279158AB5	CORPORATE BONDS	50,000.0000	51,450.00	.01
EMPRESAS PUBLI 7.625% 07/29/19		B3VZTW9	CORPORATE BONDS	2,000,000.0000	2,047,500.00	.25
ECOPETROL SA 5.875% 09/18/23	EC23	BDV82X0	CORPORATE BONDS	5,500,000.0000	5,750,250.00	.70
OLEODUCTO CENTRAL 4% 05/07/21		P7358RAC0	CORPORATE BONDS	2,600,000.0000	2,570,776.00	.31
TRANSPRTDRA DE G 5.7% 03/20/22		P93077AA6	CORPORATE BONDS	5,295,000.0000	5,395,605.00	.66
BANCO NAL COST 5.875% 04/25/21		059613AC3	CORPORATE BONDS	400,000.0000	383,000.00	.05
BANCO NAL COST 4.875% 11/01/18		BG3DSS1	CORPORATE BONDS	680,000.0000	680,000.00	.08
COSTA RICA GOV 9.995% 08/01/20		P3699PAA5	GOVERNMENT BONDS	1,150,000.0000	1,189,100.00	.15
GEORG JENSEN V/R 05/15/23/EUR/		33SND1	CORPORATE BONDS	800,000.0000	873,965.80	.11
DOMINICAN REPU 7.5% 05/06/21		P3579EAH0	GOVERNMENT BONDS	4,830,000.0000	4,999,050.00	.61
BNP PARIBAS V/R /PERP/		05565AAN3	CORPORATE BONDS	1,400,000.0000	1,438,500.00	.18
CREDIT AGRICOLE SA V/R /PERP/		225313AJ4	CORPORATE BONDS	2,300,000.0000	2,466,901.80	.30
SOCIETE GENERALE V/R /PERP/		83367TBF5	CORPORATE BONDS	1,290,000.0000	1,298,062.50	.16
SOCIETE GENERALE V/R /PERP/		83368JFA3	CORPORATE BONDS	710,000.0000	720,650.00	.09
INDIAN OIL COR 5.625% 08/02/21		B4MR909	CORPORATE BONDS	2,995,000.0000	3,101,693.88	.38
ONGC VIDESH LTD 3.75% 05/07/23		B8CH8T9	CORPORATE BONDS	300,000.0000	288,320.10	.04
INDIAN OIL CORP 5.75% 08/01/23		BCHH9P5	CORPORATE BONDS	2,700,000.0000	2,808,855.90	.34
OIL INDIA LTD 3.875% 04/17/19		BLMHTW0	CORPORATE BONDS	2,290,000.0000	2,289,242.01	.28
ONGC VIDESH LTD 3.25% 07/15/19		BP3YP86	CORPORATE BONDS	2,995,000.0000	2,987,847.94	.37
EXPORT-IMPORT B 2.75% 04/01/20		BWK1PH8	GOVERNMENT BONDS	200,000.0000	197,324.40	.02
ADANI PORTS AND 3.5% 07/29/20		Y00130CZ8	CORPORATE BONDS	3,495,000.0000	3,446,796.96	.42
ADANI PORTS AND 3.95% 01/19/22		Y00130HS9	CORPORATE BONDS	1,000,000.0000	977,839.00	.12
BHARAT PETROLE 4.625% 10/25/22		Y0882ZBH0	CORPORATE BONDS	4,220,000.0000	4,203,542.00	.51
EXPORT-IMPORT 3.125% 07/20/21		Y23874TK9	GOVERNMENT BONDS	3,200,000.0000	3,122,416.61	.38
REPUBLIC OF INDO 3.7% 01/08/22		BYNPMT2	GOVERNMENT BONDS	2,795,000.0000	2,748,429.71	.34
REPUBLIC OF IN 4.875% 05/05/21		Y20721AU3	GOVERNMENT BONDS	4,495,000.0000	4,589,718.64	.56
ISRAEL ELECTRI 6.875% 06/21/23		46507NAE0	CORPORATE BONDS	500,000.0000	546,221.00	.07
STATE OF ISRAEL 4% 06/30/22		46513AGA2	GOVERNMENT BONDS	4,800,000.0000	4,874,169.60	.60
DELEK & AVNER 4.435% 12/30/20		BMJJM83	CORPORATE BONDS	2,479,000.0000	2,476,037.60	.30
INTESA SANPAOLO SPA V/R /PERP/		46115HAU1	CORPORATE BONDS	1,625,000.0000	1,472,656.25	.18
UNICREDIT SPA V/R /PERP/		BL25ZT3	CORPORATE BONDS	1,250,000.0000	1,122,170.00	.14
EURONAV LUXEMBOU 7.5% 05/31/22		BZ121X9	CORPORATE BONDS	1,400,000.0000	1,373,750.00	.17
WAKALA GLOBAL 4.646% 07/06/21		B45VGR4	CORPORATE BONDS	3,315,000.0000	3,418,792.65	.42
IOI INVESTMENT 4.375% 06/27/22		B8GJJP4	CORPORATE BONDS	800,000.0000	794,334.40	.10
MALAYAN BANKING B V/R 10/29/26		BD3C8K9	CORPORATE BONDS	1,215,000.0000	1,197,346.05	.15
AXIATA SPV2 BH 3.466% 11/19/20		BD5WCP0	CORPORATE BONDS	5,315,000.0000	5,281,042.47	.65
PETRONAS CAPIT 3.125% 03/18/22		Y68856AM8	CORPORATE BONDS	1,600,000.0000	1,569,560.00	.19
PETRONAS GLOBA 2.707% 03/18/20		Y68868AA9	CORPORATE BONDS	4,260,000.0000	4,221,033.78	.52
WAKALA GLOBAL 4.646% 07/06/21		Y9485PAB8	CORPORATE BONDS	1,870,000.0000	1,928,549.70	.24
BOREALIS FINANCE 7.5% 11/16/22		09972AAA0	CORPORATE BONDS	5,067,000.0000	4,965,660.00	.61
GOLAR LNG PARTNER V/R 05/22/20		BXQ9SM9	CORPORATE BONDS	3,400,000.0000	3,357,500.00	.41
CHEMBULK HOLDING L 8% 02/02/23		Y12677AA1	CORPORATE BONDS	3,900,000.0000	3,947,190.00	.48
UPL CORP LTD 3.25% 10/13/21		BD2N5F7	CORPORATE BONDS	3,000,000.0000	2,894,400.00	.35
AMERICA MOVIL 3.125% 07/16/22	AMX22	02364WBD6	CORPORATE BONDS	3,245,000.0000	3,155,649.61	.39
BANCO SANTANDER M V/R 10/01/28		05969BAC7	CORPORATE BONDS	1,750,000.0000	1,751,277.50	.21
COCA-COLA FEMS 4.625% 02/15/20		191241AD0	CORPORATE BONDS	1,700,000.0000	1,722,674.07	.21
UNITED MEXICAN 3.625% 03/15/22		91086QBA5	GOVERNMENT BONDS	2,530,000.0000	2,499,640.00	.31
BBVA BANCOMER 7.25% 04/22/20		B3L6LN7	CORPORATE BONDS	100,000.0000	103,026.00	.01
CREDITO REAL SA 7.25% 07/20/23		BD0PB02	CORPORATE BONDS	2,700,000.0000	2,693,250.00	.33
UNIFIN FINANCIE 7.25% 09/27/23		BD878V0	CORPORATE BONDS	2,850,000.0000	2,754,525.00	.34
BANCO MERCANTIL DE V/R /PERP/		P14008AD1	CORPORATE BONDS	2,320,000.0000	2,291,464.00	.28
BANCO NACIONAL CO V/R 08/11/26		P14517AB5	CORPORATE BONDS	1,200,000.0000	1,151,412.00	.14
BBVA BANCOMER S 6.75% 09/30/22		P16259AH9	CORPORATE BONDS	3,000,000.0000	3,154,500.00	.39
COMISION FED D 4.875% 05/26/21		P30179AJ7	CORPORATE BONDS	3,450,000.0000	3,456,934.50	.42
GRUPO BIMBO SA 4.875% 06/30/20		P4949BAG9	CORPORATE BONDS	1,500,000.0000	1,526,835.54	.19
GRUPO IDESA SA 7.875% 12/18/20		P4954WAA8	CORPORATE BONDS	400,000.0000	338,000.00	.04
PETROBRAS GLOB 4.375% 05/20/23		71647NAF6	CORPORATE BONDS	4,500,000.0000	4,331,250.00	.53
COOPERATIEVE RABOBA V/R /PERP/		749770AQ6	CORPORATE BONDS	1,500,000.0000	1,569,000.00	.19
BHARTI AIRTEL 5.125% 03/11/23		N1384FAA3	CORPORATE BONDS	4,185,000.0000	4,059,383.04	.50
BRASKEM NETHERLA 3.5% 01/10/23		N15516AA0	CORPORATE BONDS	6,000,000.0000	5,653,200.00	.69
MARFRIG HOLDING EU 8% 06/08/23		N54468AF5	CORPORATE BONDS	4,000,000.0000	4,045,000.00	.49
VTR FINANCE BV 6.875% 01/15/24		N9417JAB7	CORPORATE BONDS	1,299,000.0000	1,315,237.50	.16
MPC CONTAINER SHI V/R 09/22/22		R4S03TAA4	CORPORATE BONDS	3,800,000.0000	3,897,280.00	.48
T/L AUTOPARTS HOL 0% 12/23/21		LX158275	LOAN	2,298,789.4000	2,298,789.40	.28
BULK INDUSTR V/R 05/26/21/NOK/		BFZNFV4	CORPORATE BONDS	11,000,000.0000	1,310,427.46	.16
BANISTMO SA 3.65% 09/19/22		06034LAA8	CORPORATE BONDS	300,000.0000	284,250.00	.03
MULTIBANK INC. 4.375% 11/09/22		BF8QD50	CORPORATE BONDS	3,600,000.0000	3,474,036.00	.42
T/L MCDERMOTT INTE 0% 05/12/25		LX170450	LOAN	3,707,130.6000	3,656,157.55	.45
BANCO LATINOAME 3.25% 05/07/20		P1393HAB4	CORPORATE BONDS	3,655,000.0000	3,614,795.00	.44
BANISTMO SA 3.65% 09/19/22		P15383AC9	CORPORATE BONDS	3,400,000.0000	3,221,500.00	.39
ENA NORTE TRUST 4.95% 04/25/23		P3716XAA7	CORPORATE BONDS	4,205,517.7480	4,173,976.36	.51
GLOBAL BANK CO 5.125% 10/30/19		P47718AA2	CORPORATE BONDS	3,000,000.0000	3,026,100.00	.37
GLOBAL BANK CORP 4.5% 10/20/21		P47718AC8	CORPORATE BONDS	1,000,000.0000	990,600.00	.12
TELFON CELUAR D 6.75% 12/13/22		P90475AA5	CORPORATE BONDS	200,000.0000	203,018.00	.02
BANCO CREDITO 5.375% 09/16/20		B679CQ1	CORPORATE BONDS	2,950,000.0000	3,039,090.00	.37
BBVA BANCO CONTINE 5% 08/26/22		B8HLLL9	CORPORATE BONDS	165,000.0000	168,342.90	.02
BANCO INTL DEL 5.75% 10/07/20		P1342SAC0	CORPORATE BONDS	4,095,000.0000	4,227,104.70	.52
BANCO INTERNAC 3.375% 01/18/23		P13435AB1	CORPORATE BONDS	1,500,000.0000	1,425,000.00	.17
FONDO MIVIVIENDA 3.5% 01/31/23		P42009AA1	GOVERNMENT BONDS	3,150,000.0000	3,024,000.00	.37
REPUBLIC OF PHILIP 4% 01/15/21		718286BK2	GOVERNMENT BONDS	7,000,000.0000	7,069,090.00	.86
BDO UNIBANK IN 2.625% 10/24/21		BD3V3H8	CORPORATE BONDS	960,000.0000	922,618.56	.11
BDO UNIBANK INC 2.95% 03/06/23		BF0DWX0	CORPORATE BONDS	3,500,000.0000	3,291,526.00	.40
UNION BK OF PH 3.369% 11/29/22		BF2WQR7	CORPORATE BONDS	2,700,000.0000	2,566,185.30	.31
OVERSEA-CHINESE B V/R 10/15/24		69033DAB3	CORPORATE BONDS	4,300,000.0000	4,312,470.00	.53
TEMASEK FINANC 2.375% 01/23/23		87973RAC4	CORPORATE BONDS	3,450,000.0000	3,294,436.91	.40
SP POWERASSETS L 2.7% 09/14/22		B6RVFW4	CORPORATE BONDS	4,950,000.0000	4,794,015.60	.59
UNITED OVERSEAS B V/R 09/16/26		BDFSK43	CORPORATE BONDS	3,500,000.0000	3,444,385.00	.42
UNITED OVERSEAS B V/R 09/19/24		BKRQS51	CORPORATE BONDS	2,000,000.0000	2,000,300.00	.24
UNITED OVERSEAS BAN V/R /PERP/		BYWHFW3	CORPORATE BONDS	1,000,000.0000	928,062.00	.11
UNITED OVERSEAS B V/R 03/08/27		BYZBLR9	CORPORATE BONDS	200,000.0000	192,082.00	.02
ONGC VIDESH VA 2.875% 01/27/22		BZ30F84	CORPORATE BONDS	4,015,000.0000	3,817,104.67	.47
DBS GROUP HOLDINGS V/R /PERP/		BZCN164	CORPORATE BONDS	3,865,000.0000	3,706,535.00	.45
CREDIT SUISSE GROUP V/R /PERP/		225401AJ7	CORPORATE BONDS	255,000.0000	259,462.50	.03
CREDIT SUISSE GROUP V/R /PERP/		22546DAB2	CORPORATE BONDS	1,000,000.0000	1,041,160.00	.13
UBS GROUP FUNDING S V/R /PERP/		BVXZ4Q2	CORPORATE BONDS	1,600,000.0000	1,666,000.00	.20
SB HOLDCO PL V/R 07/13/22/EUR/		G7837UAA8	CORPORATE BONDS	1,600,000.0000	1,803,099.19	.22
BARCLAYS PLC V/R /PERP/		06738EBA2	CORPORATE BONDS	600,000.0000	598,620.00	.07
FERROGLOBE / G 9.375% 03/01/22		315419AA9	CORPORATE BONDS	3,979,000.0000	4,163,028.75	.51
INMARSAT FINANCE 6.5% 10/01/24		45763PAF3	CORPORATE BONDS	1,824,000.0000	1,798,920.00	.22
LLOYDS BANKING GROU V/R /PERP/		539439AG4	CORPORATE BONDS	2,150,000.0000	2,168,812.50	.27
ROYAL BK SCOTLND GR V/R /PERP/		780097BB6	CORPORATE BONDS	1,945,000.0000	2,044,681.25	.25
BARCLAYS PLC V/R /PERP/		BD88738	CORPORATE BONDS	2,100,000.0000	2,163,000.00	.26
FRESNILLO PLC 5.5% 11/13/23		G371E2AA6	CORPORATE BONDS	5,400,000.0000	5,590,350.00	.68
AERCAP GLOBAL AVI V/R 06/15/45		00773HAA5	CORPORATE BONDS	1,585,000.0000	1,624,625.00	.20
AMERICA WEST A 8.057% 07/02/20		023650AG9	CORPORATE BONDS	194,846.9130	207,687.32	.03
AMERICAN AXLE & 6.5% 04/01/27		02406PAU4	CORPORATE BONDS	714,000.0000	679,192.50	.08
AMERICAN EXPRESS CO V/R /PERP/		025816BJ7	CORPORATE BONDS	1,291,000.0000	1,291,000.00	.16
AMERICAN INTL GRO V/R 05/15/58	AIG58	026874BS5	CORPORATE BONDS	1,500,000.0000	1,845,000.00	.23
AMERICAN INTL GRO V/R 04/01/48		026874DM6	CORPORATE BONDS	2,350,000.0000	2,219,293.00	.27
ASSURANT INC V/R 03/27/48		04621XAK4	CORPORATE BONDS	2,000,000.0000	2,000,000.00	.24
AVIS BUDGET CA 5.125% 06/01/22		053773AY3	CORPORATE BONDS	4,935,000.0000	5,061,484.05	.62
BANK OF AMERICA COR V/R /PERP/		060505EL4	CORPORATE BONDS	945,000.0000	1,002,125.25	.12
BANK OF AMERICA COR V/R /PERP/		060505EN0	CORPORATE BONDS	260,000.0000	266,825.00	.03
BANK OF AMERICA COR V/R /PERP/		060505EU4	CORPORATE BONDS	2,440,000.0000	2,571,150.00	.31
BANK OF NY MELLON C V/R /PERP/		064058AD2	CORPORATE BONDS	1,315,000.0000	1,323,218.75	.16
BAYER US FINANCE V/R 06/25/21		07274NAC7	CORPORATE BONDS	245,000.0000	245,092.00	.03
BRUNSWICK CORP 4.625% 05/15/21		117043AP4	CORPORATE BONDS	5,896,000.0000	5,897,266.99	.72
CAPITAL ONE FINANCI V/R /PERP/		14040HBH7	CORPORATE BONDS	1,600,000.0000	1,616,000.00	.20
CARROLS RESTAURANT 8% 05/01/22		14574XAD6	CORPORATE BONDS	8,298,000.0000	8,619,547.50	1.05
CENTERPOINT ENERGY V/R /PERP/		15189TAS6	CORPORATE BONDS	995,000.0000	1,003,706.25	.12
CITIGROUP INC V/R /PERP/		172967JK8	CORPORATE BONDS	3,565,000.0000	3,614,018.75	.44
CITIZENS FINANCIAL V/R /PERP/		174610AH8	CORPORATE BONDS	1,000,000.0000	1,007,500.00	.12
TAPESTRY INC 4.25% 04/01/25		189754AA2	CORPORATE BONDS	4,224,000.0000	4,144,068.66	.51
COMCAST CORP 3.3% 10/01/20		20030NCP4	CORPORATE BONDS	520,000.0000	519,916.80	.06
COMCAST CORP V/R 10/01/20		20030NCV1	CORPORATE BONDS	520,000.0000	520,088.92	.06
COMCAST CORP V/R 10/01/21		20030NCW9	CORPORATE BONDS	260,000.0000	260,095.42	.03
CONTINENTAL AI 5.983% 04/19/22		21079NAA9	CORPORATE BONDS	495,806.8390	519,060.18	.06
CONTINENTAL AIR 7.707% 4/2/21		210805DD6	ASSET BACKED	461,379.4870	486,616.94	.06
CONTL AIRLINES 6.236% 03/15/20		210805DS3	CORPORATE BONDS	98,766.2620	100,741.59	.01
COTT HOLDINGS IN 5.5% 04/01/25		221644AA5	CORPORATE BONDS	5,256,000.0000	5,006,340.00	.61
DXC TECHNOLOGY CO V/R 03/01/21		23355LAE6	CORPORATE BONDS	2,922,000.0000	2,922,067.21	.36
DAIRY FARMERS OF 7.125% /PERP/		23385HAA7	CORPORATE BONDS	35,000.0000	36,575.00	.00
DISCOVER FINANCIAL V/R /PERP/		254709AN8	CORPORATE BONDS	1,060,000.0000	1,001,700.00	.12
DOLLAR TREE INC V/R 04/17/20		256746AE8	CORPORATE BONDS	6,325,000.0000	6,330,154.88	.77
VISTRA ENERGY 7.375% 11/01/22		26817RAN8	CORPORATE BONDS	7,988,000.0000	8,287,550.00	1.01
FARM CREDIT BK OF T V/R /PERP/		30767EAC3	GOVERNMENT BONDS	135,000.0000	135,000.00	.02
ASSURED GUARANTY V/R 12/15/66		31769PAB6	CORPORATE BONDS	2,369,000.0000	2,297,930.00	.28
FIRST DATA CORPORA 7% 12/01/23		319963BP8	CORPORATE BONDS	6,391,000.0000	6,627,467.00	.81
FIVE POINT OP 7.875% 11/15/25		33834YAA6	CORPORATE BONDS	1,944,000.0000	1,925,920.80	.24
FORD MOTOR CREDIT V/R 06/12/20		345397YN7	CORPORATE BONDS	5,222,000.0000	5,203,787.18	.64
FRESH MARKET IN 9.75% 05/01/23		35804HAA4	CORPORATE BONDS	2,126,000.0000	1,551,980.00	.19
FXI HOLDINGS I 7.875% 11/01/24		36120RAA7	CORPORATE BONDS	3,477,000.0000	3,242,302.50	.40
TEGNA INC 5.125% 10/15/19		364725BD2	CORPORATE BONDS	1,699,000.0000	1,694,752.50	.21
GENERAL ELECTRIC CO V/R /PERP/		369604BQ5	CORPORATE BONDS	3,480,000.0000	3,210,300.00	.39
GENERAL MOTORS FINL V/R /PERP/		37045XCA2	CORPORATE BONDS	2,935,000.0000	2,642,908.80	.32
GOLDMAN SACHS GROUP V/R /PERP/		38148BAB4	CORPORATE BONDS	2,601,000.0000	2,630,261.25	.32
GOLDMAN SACHS GROUP V/R /PERP/		38148BAC2	CORPORATE BONDS	655,000.0000	638,625.00	.08
HC2 HOLDINGS INC 11% 12/01/19		404139AA5	CORPORATE BONDS	12,859,000.0000	12,762,557.50	1.56
HADRIAN MERGER S 8.5% 05/01/26		42239PAA7	CORPORATE BONDS	1,410,000.0000	1,343,025.00	.16
HEXION INC 10.375% 02/01/22		42829LAD6	CORPORATE BONDS	2,070,000.0000	1,860,412.50	.23
INVISTA FINANCE 4.25% 10/15/19		46186RAA7	CORPORATE BONDS	5,665,000.0000	5,676,896.50	.69
J2 CLOUD LLC/GLOBA 6% 07/15/25		466253AA9	CORPORATE BONDS	458,000.0000	453,992.50	.06
JPMORGAN CHASE & CO V/R /PERP/		46625HHA1	CORPORATE BONDS	358,000.0000	359,342.50	.04
JPMORGAN CHASE & CO V/R /PERP/		46625HJQ4	CORPORATE BONDS	2,870,000.0000	3,060,855.00	.37
JPMORGAN CHASE & CO V/R /PERP/		46625HKK5	CORPORATE BONDS	1,000,000.0000	1,015,000.00	.12
JONES ENERGY HL 9.25% 03/15/23		48019TAE4	CORPORATE BONDS	1,137,000.0000	579,870.00	.07
KEYCORP V/R /PERP/		493267AK4	CORPORATE BONDS	1,485,000.0000	1,411,678.13	.17
LAND O'LAKES INC 7.25% /PERP/		514666AM8	CORPORATE BONDS	1,950,000.0000	2,023,125.00	.25
LAND O'LAKES INC 7% /PERP/		514666AN6	CORPORATE BONDS	415,000.0000	414,481.25	.05
LEE ENTERPRISES 9.5% 03/15/22		523768AF6	CORPORATE BONDS	8,502,000.0000	8,767,687.50	1.07
M&T BANK CORPORATIO V/R /PERP/		55261FAH7	CORPORATE BONDS	1,125,000.0000	1,103,906.25	.13
MAI HOLDINGS INC 9.5% 06/01/23		552915AC4	CORPORATE BONDS	1,637,000.0000	1,690,202.50	.21
MACQUARIE INFRASTR 2% 10/01/23		55608BAB1	CORPORATE BONDS	2,950,000.0000	2,625,615.05	.32
WELBILT INC 9.5% 02/15/24		563568AB0	CORPORATE BONDS	5,628,000.0000	6,078,240.00	.74
MCDERMOTT TEC 10.625% 05/01/24		58003XAA0	CORPORATE BONDS	679,000.0000	611,100.00	.07
METLIFE INC V/R /PERP/		59156RBP2	CORPORATE BONDS	300,000.0000	301,875.00	.04
METLIFE INC V/R /PERP/		59156RBT4	CORPORATE BONDS	1,800,000.0000	1,795,500.00	.22
MICHAELS STORE 5.875% 12/15/20		594087AT5	CORPORATE BONDS	7,737,000.0000	7,737,000.00	.95
MORGAN STANLEY V/R /PERP/		617474AA9	CORPORATE BONDS	775,000.0000	782,750.00	.10
MUELLER INDUSTRIES 6% 03/01/27		624756AE2	CORPORATE BONDS	13,692,000.0000	13,110,090.00	1.60
NETFLIX INC 5.875% 11/15/28		64110LAQ9	CORPORATE BONDS	2,846,000.0000	2,796,195.00	.34
NETFLIX INC 6.375% 05/15/29		64110LAR7	CORPORATE BONDS	3,105,000.0000	3,103,059.38	.38
NISOURCE INC V/R /PERP/		65473PAC9	CORPORATE BONDS	1,260,000.0000	1,235,052.00	.15
PNC FINANCIAL SERVI V/R /PERP/		693475AQ8	CORPORATE BONDS	1,630,000.0000	1,576,210.00	.19
PAN AMERICAN E 7.875% 05/07/21		69783UAA9	CORPORATE BONDS	200,000.0000	203,760.00	.02
PROVIDENT FINA 7.405% 03/15/38		743863AA0	CORPORATE BONDS	1,000,000.0000	1,070,000.00	.13
RIVERS PITTSBU 6.125% 08/15/21		76882AAB6	CORPORATE BONDS	3,384,000.0000	3,367,080.00	.41
SALEM MEDIA GRO 6.75% 06/01/24		794093AG9	CORPORATE BONDS	710,000.0000	635,450.00	.08
SIRIUS XM RADIO IN 5% 08/01/27		82967NBA5	CORPORATE BONDS	2,273,000.0000	2,135,915.37	.26
SPRINT CORP 7.25% 09/15/21		85207UAE5	CORPORATE BONDS	6,200,000.0000	6,471,250.00	.79
STATE STREET CORP V/R /PERP/		857477AQ6	CORPORATE BONDS	1,500,000.0000	1,516,875.00	.19
SUNTRUST BANKS INC V/R /PERP/		867914BN2	CORPORATE BONDS	1,360,000.0000	1,314,576.00	.16
TOLL ROAD INV PAR ZCP 02/15/45		88948ABL0	CORPORATE BONDS	1,566,363.9370	353,322.60	.04
TRIMBLE INC 4.75% 12/01/24		896239AA8	CORPORATE BONDS	3,901,000.0000	3,924,230.69	.48
TRIMBLE INC 4.15% 06/15/23		896239AB6	CORPORATE BONDS	2,930,000.0000	2,920,361.79	.36
TRIUMPH GROUP I 7.75% 08/15/25		896818AP6	CORPORATE BONDS	945,000.0000	888,300.00	.11
VOYA FINANCIAL INC V/R /PERP/		929089AG5	CORPORATE BONDS	1,725,000.0000	1,714,218.75	.21
W & T OFFSHORE 9.75% 11/01/23		92922PAL0	CORPORATE BONDS	3,105,000.0000	3,004,708.50	.37
WACHOVIA CAP TRUST V/R /PERP/	WFC/TP	92978AAA0	CORPORATE BONDS	635,000.0000	619,125.00	.08
WELLS FARGO V/R /PERP/PFD/ K		949746PM7	CORPORATE BONDS	1,250,000.0000	1,259,375.00	.15
WELLS FARGO & COMPA V/R /PERP/		949746RN3	CORPORATE BONDS	2,560,000.0000	2,636,800.00	.32
WESTERN DIGITAL 4.75% 02/15/26		958102AM7	CORPORATE BONDS	-1,035,000.0000	-956,081.25	-.12
T/L REAL ALLOY 2 0% 05/31/23		989712946	LOAN	1,176,821.0000	1,176,821.00	.14
T/L EASTMAN KODAK 0% 9/3/19		LX131438	LOAN	5,620,907.3100	5,357,455.38	.65
T/L LEE ENTERPRISES 0% 3/31/19		LX136193	LOAN	39,666.3700	39,616.79	.00
T/L LEE ENTERPRISE 0% 12/15/22		LX136195	LOAN	1,898,250.0500	1,936,215.05	.24
T/L MONITRONICS IN 0% 9/30/22		LX154976	LOAN	1,374,822.1800	1,344,754.82	.16
T/L ENVIGO HOLD 0% 11/3/21		LX156308	LOAN	2,795,997.4800	2,802,987.47	.34
T/L INTERNAP NETW 0% 4/6/22		LX161977	LOAN	5,411,946.5100	5,429,968.29	.66
T/L DELL INTER 0% 9/7/2021		LX168772	LOAN	6,631,843.4900	6,618,049.26	.81
T/L DELL INTL LLC 0% 9/7/23		LX169099	LOAN	4,802,104.0200	4,794,900.86	.59
T/L YOUNG INNOVATI 0% 11/7/24		LX169121	LOAN	4,289,735.4600	4,289,735.46	.52
T/L YOUNG INNOVATI 0% 11/7/24		LX169122	LOAN	1,078,256.7600	1,078,256.76	.13
T/L LSC COMMUNICAT 0% 09/30/22		LX169586	LOAN	2,764,937.6900	2,771,850.03	.34
T/L TACALA LLC 0% 1/31/25		LX170720	LOAN	758,531.6400	758,721.27	.09
T/L CRESTWOOD HOLD 0% 03/06/23		LX171649	LOAN	6,914,863.3400	6,883,193.27	.84
T/L PMHC II 0% 3/31/26		LX171969	LOAN	1,079,000.0000	1,003,470.00	.12
T/L BI LO LLC 0% 05/31/24		LX173260	LOAN	4,650,345.0000	4,586,402.76	.56
T/L APPVION OPER 0% 06/12/26		LX174398	LOAN	1,420,771.9800	1,406,564.26	.17
T/L PRODUCTION RES 0% 08/21/24		LX175621	LOAN	2,450,000.0000	2,404,062.50	.29
RELIANCE HOLDING 4.5% 10/19/20		U75888AA2	CORPORATE BONDS	3,495,000.0000	3,529,219.58	.43
RELIANCE HOLDING 5.4% 02/14/22		U75888AC8	CORPORATE BONDS	2,400,000.0000	2,475,293.09	.30
SINOPEC GRP OVERSE 3% 04/12/22		82938NAA2	CORPORATE BONDS	200,000.0000	193,997.40	.02
SINOPEC GRP OVERSE 2% 09/29/21		82939CAG2	CORPORATE BONDS	800,000.0000	760,514.40	.09
SINOPEC GRP DEV 3.75% 09/12/23		82939GAA6	CORPORATE BONDS	1,000,000.0000	986,943.00	.12
SINOPEC GRP OVERSE 3% 04/12/22		BYP3573	CORPORATE BONDS	1,000,000.0000	969,987.00	.12
SINOPEC GRP OV 2.125% 05/03/19		BYYXKP7	CORPORATE BONDS	880,000.0000	874,828.24	.11
CNPC GENERAL CA 3.95% 04/19/22		G22004AB4	CORPORATE BONDS	2,365,000.0000	2,365,221.27	.29
CNPC GENERAL CA 2.75% 05/14/19		G22004AG3	CORPORATE BONDS	2,500,000.0000	2,490,342.10	.30
CNOOC FINANCE 3.875% 05/02/22		G23530AA9	CORPORATE BONDS	2,120,000.0000	2,115,554.36	.26
SINOPEC GRP OVERSE 2% 09/29/21		G8200TAG5	CORPORATE BONDS	200,000.0000	190,128.60	.02
SINOPEC GRP OVER 2.5% 04/28/20		G8201JAB7	CORPORATE BONDS	2,000,000.0000	1,968,398.06	.24
AT&T INC DISC 5/28/19		0020A3SU5	SHORT TERMS	5,953,000.0000	5,851,046.54	.72
ARROW ELECTRS 0% 12/20/18		04273MML4	SHORT TERMS	11,360,000.0000	11,314,765.62	1.38
BEMIS COMPANY DISC 11/02/18		08143UL28	SHORT TERMS	12,568,000.0000	12,566,338.51	1.54
CBS CORP DISC 11/28/18		1248C3LU6	SHORT TERMS	6,727,000.0000	6,713,940.87	.82
CAMPBELL SOUP CO 2.8% 1/16/19		13443DNG0	SHORT TERMS	8,080,000.0000	8,034,011.87	.98
EI DUPONT DISC 11/13/18		2635J5LD9	SHORT TERMS	6,339,000.0000	6,333,419.14	.77
GENERAL ELECTR DISC 12/28/18		36960MMU4	SHORT TERMS	11,834,000.0000	11,783,780.05	1.44
HARRIS CORP DEL 0% 11/28/18		41388FLU4	SHORT TERMS	12,410,000.0000	12,383,785.12	1.51
MARRIOTT INTER DISC 12/03/18		57163UM37	SHORT TERMS	12,937,000.0000	12,907,234.55	1.58
MONDELEZ INT I DISC 11/05/18		60920WL57	SHORT TERMS	9,753,000.0000	9,749,753.23	1.19
NETAPP INC DISC 11/09/18		64112QL92	SHORT TERMS	8,589,000.0000	8,583,797.64	1.05
ROYAL CARIBBEA DISC 12/04/18		78015GM42	SHORT TERMS	8,520,000.0000	8,499,787.15	1.04
SHERWIN WILLIAMS 0% 12/10/18		82434UMA2	SHORT TERMS	11,614,000.0000	11,584,100.92	1.42
EUR/USD FWD 20181115 000000010 USD	EUR	1295307624	FORWARD	-2,415,000.0000	-2,738,011.42	-.33
NOK/USD FWD 20181115 000000010 USD	NOK	1295293036	FORWARD	-11,096,000.0000	-1,316,791.63	-.16
SEK/USD FWD 20181115 000000010 USD	SEK	1295293035	FORWARD	-1,020,500.0000	-111,642.25	-.01
USD/SEK FWD 20181115 000000010 USD	USD	1295293035	FORWARD	113,761.7700	113,761.77	.01
USD/NOK FWD 20181115 000000010 USD	USD	1295293036	FORWARD	1,352,939.7400	1,352,939.74	.17
USD/EUR FWD 20181115 000000010 USD	USD	1295307624	FORWARD	2,798,985.0000	2,798,985.00	.34

As of 10/31/2018.

Distributions

Fund Name	Fund Cusip	Distribution Type	Amount per Share	Ex Date	Reinvest Date	Reinvest Price
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.032246	10/30/2018	10/30/2018	$9.81
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.028701	9/27/2018	9/27/2018	$9.88
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.030826	8/30/2018	8/30/2018	$9.89
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.027209	7/30/2018	7/30/2018	$9.89
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.031041	6/28/2018	6/28/2018	$9.87
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.032159	5/30/2018	5/30/2018	$9.89
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.032271	4/27/2018	4/27/2018	$9.93
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.028055	3/28/2018	3/28/2018	$9.94
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.029096	2/27/2018	2/27/2018	$9.98
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.028428	1/30/2018	1/30/2018	$10.04
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.032600	12/28/2017	12/28/2017	$10.06
Destinations Global Fixed Income Opportunities Fund	10964R806	Short-Term Capital Gains	0.006355	12/15/2017	12/15/2017	$10.08
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.032793	11/29/2017	11/29/2017	$10.08
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.030892	10/30/2017	10/30/2017	$10.13
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.032901	9/28/2017	9/28/2017	$10.14
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.030927	8/30/2017	8/30/2017	$10.14
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.030234	7/27/2017	7/27/2017	$10.14
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.043367	6/29/2017	6/29/2017	$10.13
Destinations Global Fixed Income Opportunities Fund	10964R806	Dividend	0.055388	5/30/2017	5/30/2017	$10.14

Fees and expenses

Type	Amount
Management Fees	0.85%
Distribution and Service (12b-1) Fees	None
Other Expenses	0.20%
Total Annual Fund Operating Expenses	1.05%
Fee Waivers and Expense Reimbursements	(0.11%)
Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements	0.94%*

Overview

Employing a multi-manager approach, the Fund currently allocates assets among the following sub-advisers:

CrossingBridge Advisors, LLC is the sub-adviser of CrossingBridge Corporate Credit which employs an opportunistic approach, allocating to high yield and investment grade credit opportunities.
DoubleLine Capital LP is the sub-adviser of DoubleLine Low Duration Emerging Markets which employs a value-oriented, research driven approach to identify countries and companies with the potential for improving credit fundamentals and ratings.
Nuveen Asset Management, LLC is the sub-adviser of Nuveen Preferred Securities Opportunities which employs a top-down quantitative driven process complemented by fundamental credit research analysis with a focus on relative value, resulting in a concentrated portfolio of preferred securities.

Z Share Fund performance as of 9/30/18

Annualized

MTD

QTD

YTD

1 Year

3 Years

5 Years

Since
Inception

Destinations Global Fixed Income Opportunities Fund

0.20%

N/A

0.70%

Bloomberg Barclays U.S. Universal Bond Index

-0.43%

N/A

-0.20%

Barclays U.S. Universal Bond Index Definition: Represents the union of the U.S. Aggregate Index, U.S. Corporate High Yield Index, Investment Grade 144A Index, Eurodollar Index, U.S. Emerging Markets Index, and the non-ERISA eligible portion of the CMBS Index. The index covers USD-denominated, taxable bonds that are rated either investment grade or high-yield. One cannot invest directly in an index.

An investment in the Destinations Global Fixed Income Opportunities Fund is subject to risk, including the possible loss of principal amount invested.

Risks of foreign investment tend to be greater in emerging markets, which tend to be more likely to experience political turmoil or rapid change to market or economic conditions.

Liquidity risk refers to the possibility that securities cannot be readily sold within seven days at approximately the price at which the Fund has valued them.

Fund facts

Ticker: DGFZX
CUSIP: 10964R798
Benchmark: Bloomberg Barclays U.S. Universal Bond Index
Inception date: 07/16/2018
Gross expense ratio: 0.90%
Net expense ratio: 0.79%*

Daily NAV

Date:

11/16/2018

NAV:

$9.95
NAV change:

$0.00
Total assets ($m):

$12.5

Quick links

Management team

Jeffrey W. Raupp Chief Investment Officer
Jeffrey W. Raupp, CFA, MBA, is Chief Investment Officer at Brinker Capital with portfolio management responsibilities for the Destinations program. He also serves as chair of Brinker Capital’s asset allocation committee. Mr. Raupp joined Brinker Capital in 1996 as an operations manager and has been a portfolio manager for the Destinations program since 2001. Prior to joining Brinker Capital, Mr. Raupp was an electronic engineer and project manager for a small electronics firm. He also served as an officer in the United States Army. Mr. Raupp has a B.S. in Mechanical Engineering from the University of Delaware and a MBA in Finance from Villanova University.
Amy L. Magnotta Senior Vice President
Amy L. Magnotta, CFA, is a Senior Vice President at Brinker Capital with portfolio management responsibilities for the Destinations program. Ms. Magnotta joined Brinker Capital in 2006 as a senior analyst and has been portfolio manager for the Destinations program since 2007. Prior to joining Brinker Capital, Ms. Magnotta was an associate at Franklin Park Associates from 2004 to 2006 and an associate at BlackRock from 2001 to 2004. Ms. Magnotta has a B.S. in Finance from Lehigh University.
Leigh A. Lowman Investment Manager
Leigh A. Lowman, CFA is an Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Prior to joining Brinker Capital in 2015, Ms. Lowman was an outreach analyst for The Investment Fund for Foundations (TIFF) and a senior associate for Mondrian Investment Partners. Ms. Lowman was previously at Brinker Capital from 2004 to 2010 as an investment associate and operations analyst. Ms. Lowman has a B.A. in Economics from Wittenberg University.

Performance

Z Share Fund performance as of 9/30/18

Annualized

MTD

QTD

YTD

1 Year

3 Years

5 Years

Since
Inception

Inception
Date

Gross
expense
ratio

Net
expense
ratio*

Destinations Global Fixed Income Opportunities Fund

0.20%

N/A

0.70%

7/16/2018

0.90%

0.79%

Bloomberg Barclays U.S. Universal Bond Index

-0.43%

N/A

-0.20%

Holdings

Security Description	Ticker Symbol	Security ID	Security Type Description	Quantity	Base Market Value	Percent TNA
CANADIAN DOLLAR		CASHCAD	CURRENCY	-64,508.4500	-49,003.68	-.01
US DOLLARS		CASHUSD	CURRENCY	41,355,356.5600	41,355,356.56	5.06
FRONTERA ENERGY CORP	FECCF	35905B107	COMMON STOCK	21,182.0000	276,001.46	.03
AXIS CAPITAL HLDGS LTD /PFD/	AXS PRE	05461T305	PREFERRED STOCK	31,722.0000	732,778.20	.09
DAIRY FARMERS OF AMERICA /PFD/	DFRMP	23385H406	PREFERRED STOCK	1,000.0000	115,000.00	.01
DELPHI FINANCIAL GROUP PFD		247131303	PREFERRED STOCK	50,000.0000	1,125,000.00	.14
ENSTAR GROUP LTD /PFD/	ESGRP	29359U109	PREFERRED STOCK	42,868.0000	1,101,278.92	.13
FARM CREDIT BK OF TEXAS /PFD/	FCTXZ	30767E406	PREFERRED STOCK	21,710.0000	2,301,260.00	.28
RA PARENT INC /RESTRICTED/		33TG3R	COMMON STOCK	52.0400	2,063,089.02	.25
FORUM MERGER II CORP-CL A	FMCI	34986F103	COMMON STOCK	219,500.0000	2,089,640.00	.26
FORUM MERGER II WT EX 9/30/25		34986F111	WARRANTS	219,500.0000	109,750.00	.01
GMAC CAP 8.125% 2/15/40 /PFD/	ALLY PRA	361860208	PREFERRED STOCK	25,550.0000	670,943.00	.08
HUNTINGTON BANCSHARES IN /PFD/	HBANO	446150708	PREFERRED STOCK	54,847.0000	1,407,374.02	.17
KEYCORP /PREFERRED/	KEY PRI	493267702	PREFERRED STOCK	4,240.0000	111,512.00	.01
MORGAN STANLEY /PFD/	MS PRI	61761J406	PREFERRED STOCK	10,600.0000	277,508.00	.03
MORGAN STANLEY /PFD/	MS PRK	61762V606	PREFERRED STOCK	95,960.0000	2,418,192.00	.30
MORGAN STANLEY PFD	MS PRF	61763E207	PREFERRED STOCK	4,400.0000	117,964.00	.01
NY COMMUNITY BANCORP INC PREF	NYCB PRA	649445202	PREFERRED STOCK	20,000.0000	507,200.00	.06
NUSTAR ENERGY LP SER B /PFD/	NS PRB	67058H300	PREFERRED STOCK	45,000.0000	943,200.00	.12
REGIONS FINANCIAL CORP PFD	RF PRB	7591EP506	PREFERRED STOCK	35,972.0000	958,294.08	.12
APPVION INC		989713111	COMMON STOCK	101,912.0000	1,324,856.00	.16
ASPEN INSURANCE HLDG LTD /PFD/	AHL PRD	G05384162	PREFERRED STOCK	30,926.0000	706,349.84	.09
REPUBLIC OF AR 5.625% 01/26/22		040114HK9	GOVERNMENT BONDS	3,500,000.0000	3,150,000.00	.39
YPF SOCIEDAD ANO 8.5% 03/23/21		BD3J1L2	CORPORATE BONDS	2,400,000.0000	2,422,800.00	.30
PAMPA ENERGIA 7.375% 07/21/23		P7873PAE6	CORPORATE BONDS	1,600,000.0000	1,477,920.00	.18
BHP BILLITON FIN V/R 10/19/75		055451AX6	CORPORATE BONDS	550,000.0000	595,375.00	.07
CNOOC FINANCE 2.625% 05/05/20		12634GAA1	CORPORATE BONDS	3,915,000.0000	3,860,358.35	.47
QBE INSURANCE GRO V/R 12/02/44		BSSWBW2	CORPORATE BONDS	2,000,000.0000	2,050,000.00	.25
OAS INVESTMENTS 8.25% 10/19/19		A57902AA5	CORPORATE BONDS	400,000.0000	10,500.00	.00
ESAL GMBH 6.25% 02/05/23		A9617TAA9	CORPORATE BONDS	1,500,000.0000	1,473,750.00	.18
VOSTOK NEW 6.15% 06/14/22/SEK/		33TD4C	CORPORATE BONDS	1,000,000.0000	110,924.23	.01
CATLIN INSURANCE V/R PERPETUAL 144A PP		149206AA2	CORPORATE BONDS	1,000,000.0000	982,500.00	.12
DIGICEL GROUP L 8.25% 09/30/20		B8K3F98	CORPORATE BONDS	800,000.0000	572,008.00	.07
STOLT-NIELSEN 6.375% 09/21/22		BF2P5M4	CORPORATE BONDS	5,100,000.0000	4,857,750.00	.59
SHIP FINANCE IN 5.75% 10/15/21		G81075AF3	CORPORATE BONDS	3,233,000.0000	3,109,793.60	.38
ITAU UNIBANCO HL 6.2% 12/21/21		46556MAE2	CORPORATE BONDS	400,000.0000	413,804.00	.05
GLOBO COMMUNIC 4.875% 04/11/22		P47773AL3	CORPORATE BONDS	2,730,000.0000	2,706,112.50	.33
POSTMEDIA 8.25% 07/15/21/CAD/		73753MAA5	CORPORATE BONDS	893,000.0000	657,878.61	.08
AVISON YOUNG CAN 9.5% 12/15/21		05381NAA5	CORPORATE BONDS	1,708,000.0000	1,789,130.00	.22
EMERA INC V/R 06/15/76		290876AD3	CORPORATE BONDS	1,950,000.0000	2,032,875.00	.25
NOVA CHEMICALS 5.25% 06/01/27		66977WAR0	CORPORATE BONDS	2,328,000.0000	2,101,020.00	.26
CK HUTCHISON I 2.875% 04/05/22		12563UAA5	CORPORATE BONDS	2,630,000.0000	2,549,794.10	.31
NEXTEER AUTO G 5.875% 11/15/21		65341EAA8	CORPORATE BONDS	2,295,000.0000	2,335,286.18	.29
SPARC EM SPC PANA ZCP 12/05/22		846502AC6	CORPORATE BONDS	3,065,000.0000	2,769,993.75	.34
PERU ENHANCED PAS ZCP 06/02/25		B1VYKW9	CORPORATE BONDS	280,000.0000	241,850.00	.03
GRUPO AVAL LTD 4.75% 09/26/22		B8FB0M5	CORPORATE BONDS	2,400,000.0000	2,353,824.00	.29
SPARC EM SPC PANA ZCP 12/05/22		BF7TXZ0	CORPORATE BONDS	3,565,000.0000	3,221,904.40	.39
CK HUTCHISON I 2.875% 04/05/22		BYQCLD7	CORPORATE BONDS	3,080,000.0000	2,985,835.16	.36
AGROMERCANTIL S 6.25% 04/10/19		G0131LAA6	CORPORATE BONDS	1,250,000.0000	1,253,012.50	.15
GUANAY FINANCE LTD 6% 12/15/20		G4182JAA1	CORPORATE BONDS	1,134,913.1570	1,140,587.72	.14
INTEROCEANICA IV 0% 11/30/18		P52715AA0	CORPORATE BONDS	92,053.1980	91,510.08	.01
BANCO SANTANDE 3.875% 09/20/22		05967FAB2	CORPORATE BONDS	1,850,000.0000	1,833,793.09	.22
BANCO DEL ESTA 3.875% 02/08/22		05968AAA4	CORPORATE BONDS	5,295,000.0000	5,259,040.23	.64
BANCO SANTANDER 2.5% 12/15/20		05970FAA9	CORPORATE BONDS	300,000.0000	291,912.00	.04
CELULOSA ARAUC 4.75% 01/11/22		151191AW3	CORPORATE BONDS	500,000.0000	505,000.00	.06
REPUBLIC OF CHI 3.25% 09/14/21		168863AW8	GOVERNMENT BONDS	500,000.0000	497,525.00	.06
REPUBLIC OF CHI 2.25% 10/30/22		168863BN7	GOVERNMENT BONDS	8,825,000.0000	8,412,078.25	1.03
E.CL SA 5.625% 01/15/21		P36020AA6	CORPORATE BONDS	1,400,000.0000	1,442,000.00	.18
INVERSIONES CMPC 4.5% 04/25/22		P58073AA8	CORPORATE BONDS	5,135,000.0000	5,154,125.87	.63
SACI FALABELLA 3.75% 04/30/23		P82290AA8	CORPORATE BONDS	1,440,000.0000	1,405,015.60	.17
TELEFONICA CHI 3.875% 10/12/22		P9047EAA6	CORPORATE BONDS	4,350,000.0000	4,276,269.20	.52
ECOPETROL SA 7.625% 07/23/19	EC19	279158AB5	CORPORATE BONDS	50,000.0000	51,450.00	.01
EMPRESAS PUBLI 7.625% 07/29/19		B3VZTW9	CORPORATE BONDS	2,000,000.0000	2,047,500.00	.25
ECOPETROL SA 5.875% 09/18/23	EC23	BDV82X0	CORPORATE BONDS	5,500,000.0000	5,750,250.00	.70
OLEODUCTO CENTRAL 4% 05/07/21		P7358RAC0	CORPORATE BONDS	2,600,000.0000	2,570,776.00	.31
TRANSPRTDRA DE G 5.7% 03/20/22		P93077AA6	CORPORATE BONDS	5,295,000.0000	5,395,605.00	.66
BANCO NAL COST 5.875% 04/25/21		059613AC3	CORPORATE BONDS	400,000.0000	383,000.00	.05
BANCO NAL COST 4.875% 11/01/18		BG3DSS1	CORPORATE BONDS	680,000.0000	680,000.00	.08
COSTA RICA GOV 9.995% 08/01/20		P3699PAA5	GOVERNMENT BONDS	1,150,000.0000	1,189,100.00	.15
GEORG JENSEN V/R 05/15/23/EUR/		33SND1	CORPORATE BONDS	800,000.0000	873,965.80	.11
DOMINICAN REPU 7.5% 05/06/21		P3579EAH0	GOVERNMENT BONDS	4,830,000.0000	4,999,050.00	.61
BNP PARIBAS V/R /PERP/		05565AAN3	CORPORATE BONDS	1,400,000.0000	1,438,500.00	.18
CREDIT AGRICOLE SA V/R /PERP/		225313AJ4	CORPORATE BONDS	2,300,000.0000	2,466,901.80	.30
SOCIETE GENERALE V/R /PERP/		83367TBF5	CORPORATE BONDS	1,290,000.0000	1,298,062.50	.16
SOCIETE GENERALE V/R /PERP/		83368JFA3	CORPORATE BONDS	710,000.0000	720,650.00	.09
INDIAN OIL COR 5.625% 08/02/21		B4MR909	CORPORATE BONDS	2,995,000.0000	3,101,693.88	.38
ONGC VIDESH LTD 3.75% 05/07/23		B8CH8T9	CORPORATE BONDS	300,000.0000	288,320.10	.04
INDIAN OIL CORP 5.75% 08/01/23		BCHH9P5	CORPORATE BONDS	2,700,000.0000	2,808,855.90	.34
OIL INDIA LTD 3.875% 04/17/19		BLMHTW0	CORPORATE BONDS	2,290,000.0000	2,289,242.01	.28
ONGC VIDESH LTD 3.25% 07/15/19		BP3YP86	CORPORATE BONDS	2,995,000.0000	2,987,847.94	.37
EXPORT-IMPORT B 2.75% 04/01/20		BWK1PH8	GOVERNMENT BONDS	200,000.0000	197,324.40	.02
ADANI PORTS AND 3.5% 07/29/20		Y00130CZ8	CORPORATE BONDS	3,495,000.0000	3,446,796.96	.42
ADANI PORTS AND 3.95% 01/19/22		Y00130HS9	CORPORATE BONDS	1,000,000.0000	977,839.00	.12
BHARAT PETROLE 4.625% 10/25/22		Y0882ZBH0	CORPORATE BONDS	4,220,000.0000	4,203,542.00	.51
EXPORT-IMPORT 3.125% 07/20/21		Y23874TK9	GOVERNMENT BONDS	3,200,000.0000	3,122,416.61	.38
REPUBLIC OF INDO 3.7% 01/08/22		BYNPMT2	GOVERNMENT BONDS	2,795,000.0000	2,748,429.71	.34
REPUBLIC OF IN 4.875% 05/05/21		Y20721AU3	GOVERNMENT BONDS	4,495,000.0000	4,589,718.64	.56
ISRAEL ELECTRI 6.875% 06/21/23		46507NAE0	CORPORATE BONDS	500,000.0000	546,221.00	.07
STATE OF ISRAEL 4% 06/30/22		46513AGA2	GOVERNMENT BONDS	4,800,000.0000	4,874,169.60	.60
DELEK & AVNER 4.435% 12/30/20		BMJJM83	CORPORATE BONDS	2,479,000.0000	2,476,037.60	.30
INTESA SANPAOLO SPA V/R /PERP/		46115HAU1	CORPORATE BONDS	1,625,000.0000	1,472,656.25	.18
UNICREDIT SPA V/R /PERP/		BL25ZT3	CORPORATE BONDS	1,250,000.0000	1,122,170.00	.14
EURONAV LUXEMBOU 7.5% 05/31/22		BZ121X9	CORPORATE BONDS	1,400,000.0000	1,373,750.00	.17
WAKALA GLOBAL 4.646% 07/06/21		B45VGR4	CORPORATE BONDS	3,315,000.0000	3,418,792.65	.42
IOI INVESTMENT 4.375% 06/27/22		B8GJJP4	CORPORATE BONDS	800,000.0000	794,334.40	.10
MALAYAN BANKING B V/R 10/29/26		BD3C8K9	CORPORATE BONDS	1,215,000.0000	1,197,346.05	.15
AXIATA SPV2 BH 3.466% 11/19/20		BD5WCP0	CORPORATE BONDS	5,315,000.0000	5,281,042.47	.65
PETRONAS CAPIT 3.125% 03/18/22		Y68856AM8	CORPORATE BONDS	1,600,000.0000	1,569,560.00	.19
PETRONAS GLOBA 2.707% 03/18/20		Y68868AA9	CORPORATE BONDS	4,260,000.0000	4,221,033.78	.52
WAKALA GLOBAL 4.646% 07/06/21		Y9485PAB8	CORPORATE BONDS	1,870,000.0000	1,928,549.70	.24
BOREALIS FINANCE 7.5% 11/16/22		09972AAA0	CORPORATE BONDS	5,067,000.0000	4,965,660.00	.61
GOLAR LNG PARTNER V/R 05/22/20		BXQ9SM9	CORPORATE BONDS	3,400,000.0000	3,357,500.00	.41
CHEMBULK HOLDING L 8% 02/02/23		Y12677AA1	CORPORATE BONDS	3,900,000.0000	3,947,190.00	.48
UPL CORP LTD 3.25% 10/13/21		BD2N5F7	CORPORATE BONDS	3,000,000.0000	2,894,400.00	.35
AMERICA MOVIL 3.125% 07/16/22	AMX22	02364WBD6	CORPORATE BONDS	3,245,000.0000	3,155,649.61	.39
BANCO SANTANDER M V/R 10/01/28		05969BAC7	CORPORATE BONDS	1,750,000.0000	1,751,277.50	.21
COCA-COLA FEMS 4.625% 02/15/20		191241AD0	CORPORATE BONDS	1,700,000.0000	1,722,674.07	.21
UNITED MEXICAN 3.625% 03/15/22		91086QBA5	GOVERNMENT BONDS	2,530,000.0000	2,499,640.00	.31
BBVA BANCOMER 7.25% 04/22/20		B3L6LN7	CORPORATE BONDS	100,000.0000	103,026.00	.01
CREDITO REAL SA 7.25% 07/20/23		BD0PB02	CORPORATE BONDS	2,700,000.0000	2,693,250.00	.33
UNIFIN FINANCIE 7.25% 09/27/23		BD878V0	CORPORATE BONDS	2,850,000.0000	2,754,525.00	.34
BANCO MERCANTIL DE V/R /PERP/		P14008AD1	CORPORATE BONDS	2,320,000.0000	2,291,464.00	.28
BANCO NACIONAL CO V/R 08/11/26		P14517AB5	CORPORATE BONDS	1,200,000.0000	1,151,412.00	.14
BBVA BANCOMER S 6.75% 09/30/22		P16259AH9	CORPORATE BONDS	3,000,000.0000	3,154,500.00	.39
COMISION FED D 4.875% 05/26/21		P30179AJ7	CORPORATE BONDS	3,450,000.0000	3,456,934.50	.42
GRUPO BIMBO SA 4.875% 06/30/20		P4949BAG9	CORPORATE BONDS	1,500,000.0000	1,526,835.54	.19
GRUPO IDESA SA 7.875% 12/18/20		P4954WAA8	CORPORATE BONDS	400,000.0000	338,000.00	.04
PETROBRAS GLOB 4.375% 05/20/23		71647NAF6	CORPORATE BONDS	4,500,000.0000	4,331,250.00	.53
COOPERATIEVE RABOBA V/R /PERP/		749770AQ6	CORPORATE BONDS	1,500,000.0000	1,569,000.00	.19
BHARTI AIRTEL 5.125% 03/11/23		N1384FAA3	CORPORATE BONDS	4,185,000.0000	4,059,383.04	.50
BRASKEM NETHERLA 3.5% 01/10/23		N15516AA0	CORPORATE BONDS	6,000,000.0000	5,653,200.00	.69
MARFRIG HOLDING EU 8% 06/08/23		N54468AF5	CORPORATE BONDS	4,000,000.0000	4,045,000.00	.49
VTR FINANCE BV 6.875% 01/15/24		N9417JAB7	CORPORATE BONDS	1,299,000.0000	1,315,237.50	.16
MPC CONTAINER SHI V/R 09/22/22		R4S03TAA4	CORPORATE BONDS	3,800,000.0000	3,897,280.00	.48
T/L AUTOPARTS HOL 0% 12/23/21		LX158275	LOAN	2,298,789.4000	2,298,789.40	.28
BULK INDUSTR V/R 05/26/21/NOK/		BFZNFV4	CORPORATE BONDS	11,000,000.0000	1,310,427.46	.16
BANISTMO SA 3.65% 09/19/22		06034LAA8	CORPORATE BONDS	300,000.0000	284,250.00	.03
MULTIBANK INC. 4.375% 11/09/22		BF8QD50	CORPORATE BONDS	3,600,000.0000	3,474,036.00	.42
T/L MCDERMOTT INTE 0% 05/12/25		LX170450	LOAN	3,707,130.6000	3,656,157.55	.45
BANCO LATINOAME 3.25% 05/07/20		P1393HAB4	CORPORATE BONDS	3,655,000.0000	3,614,795.00	.44
BANISTMO SA 3.65% 09/19/22		P15383AC9	CORPORATE BONDS	3,400,000.0000	3,221,500.00	.39
ENA NORTE TRUST 4.95% 04/25/23		P3716XAA7	CORPORATE BONDS	4,205,517.7480	4,173,976.36	.51
GLOBAL BANK CO 5.125% 10/30/19		P47718AA2	CORPORATE BONDS	3,000,000.0000	3,026,100.00	.37
GLOBAL BANK CORP 4.5% 10/20/21		P47718AC8	CORPORATE BONDS	1,000,000.0000	990,600.00	.12
TELFON CELUAR D 6.75% 12/13/22		P90475AA5	CORPORATE BONDS	200,000.0000	203,018.00	.02
BANCO CREDITO 5.375% 09/16/20		B679CQ1	CORPORATE BONDS	2,950,000.0000	3,039,090.00	.37
BBVA BANCO CONTINE 5% 08/26/22		B8HLLL9	CORPORATE BONDS	165,000.0000	168,342.90	.02
BANCO INTL DEL 5.75% 10/07/20		P1342SAC0	CORPORATE BONDS	4,095,000.0000	4,227,104.70	.52
BANCO INTERNAC 3.375% 01/18/23		P13435AB1	CORPORATE BONDS	1,500,000.0000	1,425,000.00	.17
FONDO MIVIVIENDA 3.5% 01/31/23		P42009AA1	GOVERNMENT BONDS	3,150,000.0000	3,024,000.00	.37
REPUBLIC OF PHILIP 4% 01/15/21		718286BK2	GOVERNMENT BONDS	7,000,000.0000	7,069,090.00	.86
BDO UNIBANK IN 2.625% 10/24/21		BD3V3H8	CORPORATE BONDS	960,000.0000	922,618.56	.11
BDO UNIBANK INC 2.95% 03/06/23		BF0DWX0	CORPORATE BONDS	3,500,000.0000	3,291,526.00	.40
UNION BK OF PH 3.369% 11/29/22		BF2WQR7	CORPORATE BONDS	2,700,000.0000	2,566,185.30	.31
OVERSEA-CHINESE B V/R 10/15/24		69033DAB3	CORPORATE BONDS	4,300,000.0000	4,312,470.00	.53
TEMASEK FINANC 2.375% 01/23/23		87973RAC4	CORPORATE BONDS	3,450,000.0000	3,294,436.91	.40
SP POWERASSETS L 2.7% 09/14/22		B6RVFW4	CORPORATE BONDS	4,950,000.0000	4,794,015.60	.59
UNITED OVERSEAS B V/R 09/16/26		BDFSK43	CORPORATE BONDS	3,500,000.0000	3,444,385.00	.42
UNITED OVERSEAS B V/R 09/19/24		BKRQS51	CORPORATE BONDS	2,000,000.0000	2,000,300.00	.24
UNITED OVERSEAS BAN V/R /PERP/		BYWHFW3	CORPORATE BONDS	1,000,000.0000	928,062.00	.11
UNITED OVERSEAS B V/R 03/08/27		BYZBLR9	CORPORATE BONDS	200,000.0000	192,082.00	.02
ONGC VIDESH VA 2.875% 01/27/22		BZ30F84	CORPORATE BONDS	4,015,000.0000	3,817,104.67	.47
DBS GROUP HOLDINGS V/R /PERP/		BZCN164	CORPORATE BONDS	3,865,000.0000	3,706,535.00	.45
CREDIT SUISSE GROUP V/R /PERP/		225401AJ7	CORPORATE BONDS	255,000.0000	259,462.50	.03
CREDIT SUISSE GROUP V/R /PERP/		22546DAB2	CORPORATE BONDS	1,000,000.0000	1,041,160.00	.13
UBS GROUP FUNDING S V/R /PERP/		BVXZ4Q2	CORPORATE BONDS	1,600,000.0000	1,666,000.00	.20
SB HOLDCO PL V/R 07/13/22/EUR/		G7837UAA8	CORPORATE BONDS	1,600,000.0000	1,803,099.19	.22
BARCLAYS PLC V/R /PERP/		06738EBA2	CORPORATE BONDS	600,000.0000	598,620.00	.07
FERROGLOBE / G 9.375% 03/01/22		315419AA9	CORPORATE BONDS	3,979,000.0000	4,163,028.75	.51
INMARSAT FINANCE 6.5% 10/01/24		45763PAF3	CORPORATE BONDS	1,824,000.0000	1,798,920.00	.22
LLOYDS BANKING GROU V/R /PERP/		539439AG4	CORPORATE BONDS	2,150,000.0000	2,168,812.50	.27
ROYAL BK SCOTLND GR V/R /PERP/		780097BB6	CORPORATE BONDS	1,945,000.0000	2,044,681.25	.25
BARCLAYS PLC V/R /PERP/		BD88738	CORPORATE BONDS	2,100,000.0000	2,163,000.00	.26
FRESNILLO PLC 5.5% 11/13/23		G371E2AA6	CORPORATE BONDS	5,400,000.0000	5,590,350.00	.68
AERCAP GLOBAL AVI V/R 06/15/45		00773HAA5	CORPORATE BONDS	1,585,000.0000	1,624,625.00	.20
AMERICA WEST A 8.057% 07/02/20		023650AG9	CORPORATE BONDS	194,846.9130	207,687.32	.03
AMERICAN AXLE & 6.5% 04/01/27		02406PAU4	CORPORATE BONDS	714,000.0000	679,192.50	.08
AMERICAN EXPRESS CO V/R /PERP/		025816BJ7	CORPORATE BONDS	1,291,000.0000	1,291,000.00	.16
AMERICAN INTL GRO V/R 05/15/58	AIG58	026874BS5	CORPORATE BONDS	1,500,000.0000	1,845,000.00	.23
AMERICAN INTL GRO V/R 04/01/48		026874DM6	CORPORATE BONDS	2,350,000.0000	2,219,293.00	.27
ASSURANT INC V/R 03/27/48		04621XAK4	CORPORATE BONDS	2,000,000.0000	2,000,000.00	.24
AVIS BUDGET CA 5.125% 06/01/22		053773AY3	CORPORATE BONDS	4,935,000.0000	5,061,484.05	.62
BANK OF AMERICA COR V/R /PERP/		060505EL4	CORPORATE BONDS	945,000.0000	1,002,125.25	.12
BANK OF AMERICA COR V/R /PERP/		060505EN0	CORPORATE BONDS	260,000.0000	266,825.00	.03
BANK OF AMERICA COR V/R /PERP/		060505EU4	CORPORATE BONDS	2,440,000.0000	2,571,150.00	.31
BANK OF NY MELLON C V/R /PERP/		064058AD2	CORPORATE BONDS	1,315,000.0000	1,323,218.75	.16
BAYER US FINANCE V/R 06/25/21		07274NAC7	CORPORATE BONDS	245,000.0000	245,092.00	.03
BRUNSWICK CORP 4.625% 05/15/21		117043AP4	CORPORATE BONDS	5,896,000.0000	5,897,266.99	.72
CAPITAL ONE FINANCI V/R /PERP/		14040HBH7	CORPORATE BONDS	1,600,000.0000	1,616,000.00	.20
CARROLS RESTAURANT 8% 05/01/22		14574XAD6	CORPORATE BONDS	8,298,000.0000	8,619,547.50	1.05
CENTERPOINT ENERGY V/R /PERP/		15189TAS6	CORPORATE BONDS	995,000.0000	1,003,706.25	.12
CITIGROUP INC V/R /PERP/		172967JK8	CORPORATE BONDS	3,565,000.0000	3,614,018.75	.44
CITIZENS FINANCIAL V/R /PERP/		174610AH8	CORPORATE BONDS	1,000,000.0000	1,007,500.00	.12
TAPESTRY INC 4.25% 04/01/25		189754AA2	CORPORATE BONDS	4,224,000.0000	4,144,068.66	.51
COMCAST CORP 3.3% 10/01/20		20030NCP4	CORPORATE BONDS	520,000.0000	519,916.80	.06
COMCAST CORP V/R 10/01/20		20030NCV1	CORPORATE BONDS	520,000.0000	520,088.92	.06
COMCAST CORP V/R 10/01/21		20030NCW9	CORPORATE BONDS	260,000.0000	260,095.42	.03
CONTINENTAL AI 5.983% 04/19/22		21079NAA9	CORPORATE BONDS	495,806.8390	519,060.18	.06
CONTINENTAL AIR 7.707% 4/2/21		210805DD6	ASSET BACKED	461,379.4870	486,616.94	.06
CONTL AIRLINES 6.236% 03/15/20		210805DS3	CORPORATE BONDS	98,766.2620	100,741.59	.01
COTT HOLDINGS IN 5.5% 04/01/25		221644AA5	CORPORATE BONDS	5,256,000.0000	5,006,340.00	.61
DXC TECHNOLOGY CO V/R 03/01/21		23355LAE6	CORPORATE BONDS	2,922,000.0000	2,922,067.21	.36
DAIRY FARMERS OF 7.125% /PERP/		23385HAA7	CORPORATE BONDS	35,000.0000	36,575.00	.00
DISCOVER FINANCIAL V/R /PERP/		254709AN8	CORPORATE BONDS	1,060,000.0000	1,001,700.00	.12
DOLLAR TREE INC V/R 04/17/20		256746AE8	CORPORATE BONDS	6,325,000.0000	6,330,154.88	.77
VISTRA ENERGY 7.375% 11/01/22		26817RAN8	CORPORATE BONDS	7,988,000.0000	8,287,550.00	1.01
FARM CREDIT BK OF T V/R /PERP/		30767EAC3	GOVERNMENT BONDS	135,000.0000	135,000.00	.02
ASSURED GUARANTY V/R 12/15/66		31769PAB6	CORPORATE BONDS	2,369,000.0000	2,297,930.00	.28
FIRST DATA CORPORA 7% 12/01/23		319963BP8	CORPORATE BONDS	6,391,000.0000	6,627,467.00	.81
FIVE POINT OP 7.875% 11/15/25		33834YAA6	CORPORATE BONDS	1,944,000.0000	1,925,920.80	.24
FORD MOTOR CREDIT V/R 06/12/20		345397YN7	CORPORATE BONDS	5,222,000.0000	5,203,787.18	.64
FRESH MARKET IN 9.75% 05/01/23		35804HAA4	CORPORATE BONDS	2,126,000.0000	1,551,980.00	.19
FXI HOLDINGS I 7.875% 11/01/24		36120RAA7	CORPORATE BONDS	3,477,000.0000	3,242,302.50	.40
TEGNA INC 5.125% 10/15/19		364725BD2	CORPORATE BONDS	1,699,000.0000	1,694,752.50	.21
GENERAL ELECTRIC CO V/R /PERP/		369604BQ5	CORPORATE BONDS	3,480,000.0000	3,210,300.00	.39
GENERAL MOTORS FINL V/R /PERP/		37045XCA2	CORPORATE BONDS	2,935,000.0000	2,642,908.80	.32
GOLDMAN SACHS GROUP V/R /PERP/		38148BAB4	CORPORATE BONDS	2,601,000.0000	2,630,261.25	.32
GOLDMAN SACHS GROUP V/R /PERP/		38148BAC2	CORPORATE BONDS	655,000.0000	638,625.00	.08
HC2 HOLDINGS INC 11% 12/01/19		404139AA5	CORPORATE BONDS	12,859,000.0000	12,762,557.50	1.56
HADRIAN MERGER S 8.5% 05/01/26		42239PAA7	CORPORATE BONDS	1,410,000.0000	1,343,025.00	.16
HEXION INC 10.375% 02/01/22		42829LAD6	CORPORATE BONDS	2,070,000.0000	1,860,412.50	.23
INVISTA FINANCE 4.25% 10/15/19		46186RAA7	CORPORATE BONDS	5,665,000.0000	5,676,896.50	.69
J2 CLOUD LLC/GLOBA 6% 07/15/25		466253AA9	CORPORATE BONDS	458,000.0000	453,992.50	.06
JPMORGAN CHASE & CO V/R /PERP/		46625HHA1	CORPORATE BONDS	358,000.0000	359,342.50	.04
JPMORGAN CHASE & CO V/R /PERP/		46625HJQ4	CORPORATE BONDS	2,870,000.0000	3,060,855.00	.37
JPMORGAN CHASE & CO V/R /PERP/		46625HKK5	CORPORATE BONDS	1,000,000.0000	1,015,000.00	.12
JONES ENERGY HL 9.25% 03/15/23		48019TAE4	CORPORATE BONDS	1,137,000.0000	579,870.00	.07
KEYCORP V/R /PERP/		493267AK4	CORPORATE BONDS	1,485,000.0000	1,411,678.13	.17
LAND O'LAKES INC 7.25% /PERP/		514666AM8	CORPORATE BONDS	1,950,000.0000	2,023,125.00	.25
LAND O'LAKES INC 7% /PERP/		514666AN6	CORPORATE BONDS	415,000.0000	414,481.25	.05
LEE ENTERPRISES 9.5% 03/15/22		523768AF6	CORPORATE BONDS	8,502,000.0000	8,767,687.50	1.07
M&T BANK CORPORATIO V/R /PERP/		55261FAH7	CORPORATE BONDS	1,125,000.0000	1,103,906.25	.13
MAI HOLDINGS INC 9.5% 06/01/23		552915AC4	CORPORATE BONDS	1,637,000.0000	1,690,202.50	.21
MACQUARIE INFRASTR 2% 10/01/23		55608BAB1	CORPORATE BONDS	2,950,000.0000	2,625,615.05	.32
WELBILT INC 9.5% 02/15/24		563568AB0	CORPORATE BONDS	5,628,000.0000	6,078,240.00	.74
MCDERMOTT TEC 10.625% 05/01/24		58003XAA0	CORPORATE BONDS	679,000.0000	611,100.00	.07
METLIFE INC V/R /PERP/		59156RBP2	CORPORATE BONDS	300,000.0000	301,875.00	.04
METLIFE INC V/R /PERP/		59156RBT4	CORPORATE BONDS	1,800,000.0000	1,795,500.00	.22
MICHAELS STORE 5.875% 12/15/20		594087AT5	CORPORATE BONDS	7,737,000.0000	7,737,000.00	.95
MORGAN STANLEY V/R /PERP/		617474AA9	CORPORATE BONDS	775,000.0000	782,750.00	.10
MUELLER INDUSTRIES 6% 03/01/27		624756AE2	CORPORATE BONDS	13,692,000.0000	13,110,090.00	1.60
NETFLIX INC 5.875% 11/15/28		64110LAQ9	CORPORATE BONDS	2,846,000.0000	2,796,195.00	.34
NETFLIX INC 6.375% 05/15/29		64110LAR7	CORPORATE BONDS	3,105,000.0000	3,103,059.38	.38
NISOURCE INC V/R /PERP/		65473PAC9	CORPORATE BONDS	1,260,000.0000	1,235,052.00	.15
PNC FINANCIAL SERVI V/R /PERP/		693475AQ8	CORPORATE BONDS	1,630,000.0000	1,576,210.00	.19
PAN AMERICAN E 7.875% 05/07/21		69783UAA9	CORPORATE BONDS	200,000.0000	203,760.00	.02
PROVIDENT FINA 7.405% 03/15/38		743863AA0	CORPORATE BONDS	1,000,000.0000	1,070,000.00	.13
RIVERS PITTSBU 6.125% 08/15/21		76882AAB6	CORPORATE BONDS	3,384,000.0000	3,367,080.00	.41
SALEM MEDIA GRO 6.75% 06/01/24		794093AG9	CORPORATE BONDS	710,000.0000	635,450.00	.08
SIRIUS XM RADIO IN 5% 08/01/27		82967NBA5	CORPORATE BONDS	2,273,000.0000	2,135,915.37	.26
SPRINT CORP 7.25% 09/15/21		85207UAE5	CORPORATE BONDS	6,200,000.0000	6,471,250.00	.79
STATE STREET CORP V/R /PERP/		857477AQ6	CORPORATE BONDS	1,500,000.0000	1,516,875.00	.19
SUNTRUST BANKS INC V/R /PERP/		867914BN2	CORPORATE BONDS	1,360,000.0000	1,314,576.00	.16
TOLL ROAD INV PAR ZCP 02/15/45		88948ABL0	CORPORATE BONDS	1,566,363.9370	353,322.60	.04
TRIMBLE INC 4.75% 12/01/24		896239AA8	CORPORATE BONDS	3,901,000.0000	3,924,230.69	.48
TRIMBLE INC 4.15% 06/15/23		896239AB6	CORPORATE BONDS	2,930,000.0000	2,920,361.79	.36
TRIUMPH GROUP I 7.75% 08/15/25		896818AP6	CORPORATE BONDS	945,000.0000	888,300.00	.11
VOYA FINANCIAL INC V/R /PERP/		929089AG5	CORPORATE BONDS	1,725,000.0000	1,714,218.75	.21
W & T OFFSHORE 9.75% 11/01/23		92922PAL0	CORPORATE BONDS	3,105,000.0000	3,004,708.50	.37
WACHOVIA CAP TRUST V/R /PERP/	WFC/TP	92978AAA0	CORPORATE BONDS	635,000.0000	619,125.00	.08
WELLS FARGO V/R /PERP/PFD/ K		949746PM7	CORPORATE BONDS	1,250,000.0000	1,259,375.00	.15
WELLS FARGO & COMPA V/R /PERP/		949746RN3	CORPORATE BONDS	2,560,000.0000	2,636,800.00	.32
WESTERN DIGITAL 4.75% 02/15/26		958102AM7	CORPORATE BONDS	-1,035,000.0000	-956,081.25	-.12
T/L REAL ALLOY 2 0% 05/31/23		989712946	LOAN	1,176,821.0000	1,176,821.00	.14
T/L EASTMAN KODAK 0% 9/3/19		LX131438	LOAN	5,620,907.3100	5,357,455.38	.65
T/L LEE ENTERPRISES 0% 3/31/19		LX136193	LOAN	39,666.3700	39,616.79	.00
T/L LEE ENTERPRISE 0% 12/15/22		LX136195	LOAN	1,898,250.0500	1,936,215.05	.24
T/L MONITRONICS IN 0% 9/30/22		LX154976	LOAN	1,374,822.1800	1,344,754.82	.16
T/L ENVIGO HOLD 0% 11/3/21		LX156308	LOAN	2,795,997.4800	2,802,987.47	.34
T/L INTERNAP NETW 0% 4/6/22		LX161977	LOAN	5,411,946.5100	5,429,968.29	.66
T/L DELL INTER 0% 9/7/2021		LX168772	LOAN	6,631,843.4900	6,618,049.26	.81
T/L DELL INTL LLC 0% 9/7/23		LX169099	LOAN	4,802,104.0200	4,794,900.86	.59
T/L YOUNG INNOVATI 0% 11/7/24		LX169121	LOAN	4,289,735.4600	4,289,735.46	.52
T/L YOUNG INNOVATI 0% 11/7/24		LX169122	LOAN	1,078,256.7600	1,078,256.76	.13
T/L LSC COMMUNICAT 0% 09/30/22		LX169586	LOAN	2,764,937.6900	2,771,850.03	.34
T/L TACALA LLC 0% 1/31/25		LX170720	LOAN	758,531.6400	758,721.27	.09
T/L CRESTWOOD HOLD 0% 03/06/23		LX171649	LOAN	6,914,863.3400	6,883,193.27	.84
T/L PMHC II 0% 3/31/26		LX171969	LOAN	1,079,000.0000	1,003,470.00	.12
T/L BI LO LLC 0% 05/31/24		LX173260	LOAN	4,650,345.0000	4,586,402.76	.56
T/L APPVION OPER 0% 06/12/26		LX174398	LOAN	1,420,771.9800	1,406,564.26	.17
T/L PRODUCTION RES 0% 08/21/24		LX175621	LOAN	2,450,000.0000	2,404,062.50	.29
RELIANCE HOLDING 4.5% 10/19/20		U75888AA2	CORPORATE BONDS	3,495,000.0000	3,529,219.58	.43
RELIANCE HOLDING 5.4% 02/14/22		U75888AC8	CORPORATE BONDS	2,400,000.0000	2,475,293.09	.30
SINOPEC GRP OVERSE 3% 04/12/22		82938NAA2	CORPORATE BONDS	200,000.0000	193,997.40	.02
SINOPEC GRP OVERSE 2% 09/29/21		82939CAG2	CORPORATE BONDS	800,000.0000	760,514.40	.09
SINOPEC GRP DEV 3.75% 09/12/23		82939GAA6	CORPORATE BONDS	1,000,000.0000	986,943.00	.12
SINOPEC GRP OVERSE 3% 04/12/22		BYP3573	CORPORATE BONDS	1,000,000.0000	969,987.00	.12
SINOPEC GRP OV 2.125% 05/03/19		BYYXKP7	CORPORATE BONDS	880,000.0000	874,828.24	.11
CNPC GENERAL CA 3.95% 04/19/22		G22004AB4	CORPORATE BONDS	2,365,000.0000	2,365,221.27	.29
CNPC GENERAL CA 2.75% 05/14/19		G22004AG3	CORPORATE BONDS	2,500,000.0000	2,490,342.10	.30
CNOOC FINANCE 3.875% 05/02/22		G23530AA9	CORPORATE BONDS	2,120,000.0000	2,115,554.36	.26
SINOPEC GRP OVERSE 2% 09/29/21		G8200TAG5	CORPORATE BONDS	200,000.0000	190,128.60	.02
SINOPEC GRP OVER 2.5% 04/28/20		G8201JAB7	CORPORATE BONDS	2,000,000.0000	1,968,398.06	.24
AT&T INC DISC 5/28/19		0020A3SU5	SHORT TERMS	5,953,000.0000	5,851,046.54	.72
ARROW ELECTRS 0% 12/20/18		04273MML4	SHORT TERMS	11,360,000.0000	11,314,765.62	1.38
BEMIS COMPANY DISC 11/02/18		08143UL28	SHORT TERMS	12,568,000.0000	12,566,338.51	1.54
CBS CORP DISC 11/28/18		1248C3LU6	SHORT TERMS	6,727,000.0000	6,713,940.87	.82
CAMPBELL SOUP CO 2.8% 1/16/19		13443DNG0	SHORT TERMS	8,080,000.0000	8,034,011.87	.98
EI DUPONT DISC 11/13/18		2635J5LD9	SHORT TERMS	6,339,000.0000	6,333,419.14	.77
GENERAL ELECTR DISC 12/28/18		36960MMU4	SHORT TERMS	11,834,000.0000	11,783,780.05	1.44
HARRIS CORP DEL 0% 11/28/18		41388FLU4	SHORT TERMS	12,410,000.0000	12,383,785.12	1.51
MARRIOTT INTER DISC 12/03/18		57163UM37	SHORT TERMS	12,937,000.0000	12,907,234.55	1.58
MONDELEZ INT I DISC 11/05/18		60920WL57	SHORT TERMS	9,753,000.0000	9,749,753.23	1.19
NETAPP INC DISC 11/09/18		64112QL92	SHORT TERMS	8,589,000.0000	8,583,797.64	1.05
ROYAL CARIBBEA DISC 12/04/18		78015GM42	SHORT TERMS	8,520,000.0000	8,499,787.15	1.04
SHERWIN WILLIAMS 0% 12/10/18		82434UMA2	SHORT TERMS	11,614,000.0000	11,584,100.92	1.42
EUR/USD FWD 20181115 000000010 USD	EUR	1295307624	FORWARD	-2,415,000.0000	-2,738,011.42	-.33
NOK/USD FWD 20181115 000000010 USD	NOK	1295293036	FORWARD	-11,096,000.0000	-1,316,791.63	-.16
SEK/USD FWD 20181115 000000010 USD	SEK	1295293035	FORWARD	-1,020,500.0000	-111,642.25	-.01
USD/SEK FWD 20181115 000000010 USD	USD	1295293035	FORWARD	113,761.7700	113,761.77	.01
USD/NOK FWD 20181115 000000010 USD	USD	1295293036	FORWARD	1,352,939.7400	1,352,939.74	.17
USD/EUR FWD 20181115 000000010 USD	USD	1295307624	FORWARD	2,798,985.0000	2,798,985.00	.34

As of 10/31/2018.

Distributions

Fund Name	Fund Cusip	Distribution Type	Amount per Share	Ex Date	Reinvest Date	Reinvest Price
Destinations Global Fixed Income Opportunities Fund	10964R798	Dividend	0.033505	10/30/2018	10/30/2018	$9.96
Destinations Global Fixed Income Opportunities Fund	10964R798	Dividend	0.029826	9/27/2018	9/27/2018	$10.04

Fees and expenses

Type	Amount
Management Fees	0.85%
Distribution and Service (12b-1) Fees	None
Other Expenses	0.05%
Total Annual Fund Operating Expenses	0.90%
Fee Waivers and Expense Reimbursements	(0.11%)
Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements	0.79%*

Contact

Individual Investor Contact Information
1-877-771-7979
Monday – Friday 8:30 am – 5:00 pm EST

Or write to the Funds at:
Brinker Capital Destinations Funds
P.O. Box 2175
Milwaukee, WI 53201

Overnight/Certified Mail:
Brinker Capital Destinations Funds
235 W. Galena Street
Milwaukee, WI 53212

Investment Adviser
Brinker Capital, Inc.
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312
www.brinkercapital.com

Distributor
Foreside Fund Services, LLC
Three Canal Plaza, Suite 100
Portland, ME 04101
www.foreside.com

Media Relations
marketingmembers@brinkercapital.com

Mutual fund investing involves risk. The value of your investment in a Fund could go down. Multi-investment management styles may lead to overlapping securities transactions and higher transaction expenses compared to single investment management styles. Outcomes depend on the skill of the sub-advisers and adviser and the allocation of assets amongst them, as well as market fluctuations and industry/economic trends etc.

Before investing you should consider the Destinations Funds’ investment objectives, risks, charges and expenses carefully. The prospectus contains this and other information about the Funds. You may obtain a copy of the prospectus by calling 1-877-771-7979. The prospectus should be read carefully before investing.

Any tax or legal information provided is not an exhaustive interpretation of some of the current income tax regulations. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Funds nor any of their representatives may give legal or tax advice.

The Destinations Funds are distributed by Foreside Fund Services, LLC.