/raid1/www/Hosts/bankrupt/TCREUR_Public/180713.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Monday, July 9, 2018, Vol. 19, No. 134

                            Headlines


F R A N C E

AUTODIS GROUP: S&P Affirms B Issuer Credit Rating, Outlook Stable


G E O R G I A

SWISS CAPITAL: Fitch Assigns 'B-' Long-Term IDR, Outlook Stable


G R E E C E

HELLENIC REPUBLIC: DBRS Raises LT Issuer Ratings to B(high)


I R E L A N D

CARLYLE EURO 2018-2: Moody's Rates Class E Notes '(P)B2'
CARLYLE EURO 2018-2: Fitch Rates Class E Debt 'B-(EXP)sf'
RICHMOND PARK: Moody's Assigns (P)B2(sf) Rating to Cl. F-R Notes
RICHMOND PARK: Fitch Assigns 'B-(EXP)' Rating to Class F Debt


I T A L Y

AC MILAN: Chinese Owner Fails to Repay Debt to Elliot Management
GOLDEN BAR 2016-1: DBRS Confirms BB Issuer Rating on Cl. D Notes


L U X E M B O U R G

DAKAR FINANCE: Moody's Affirms B2 CFR, Outlook Stable


N E T H E R L A N D S

NORTH WESTERLY V: Fitch Assigns 'B-(EXP)' Rating to Cl. F Notes


S L O V E N I A

TELEKOM SLOVENIJE: S&P Puts 'BB+' ICR on CreditWatch Negative


S P A I N

AYT GENOVA X: S&P Affirms B-(sf) Rating on Class B Notes
PYMES SANTANDER 12: DBRS Withdraws C Rating on Series C Notes


T U R K E Y

BEREKET ENERJI: Puts Power Plants Up for Sale to Repay Debt


U N I T E D   K I N G D O M

HONOURS PLC: Fitch Affirms 'CCsf' Rating on Class D Notes
HOUSE OF FRASER: Landlords Oppose Restructuring Plans
IRIS DEBTCO: Moody's Assigns B2 CFR, Outlook Stable
LONDON LIVE: Needs Extra Funding to Stay Afloat After Losses
OSE EUROPEAN: DFH Transport Buys Business Out of Administration


X X X X X X X X

* BOND PRICING: For the Week July 2 to July 6, 2018


                            *********



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AUTODIS GROUP: S&P Affirms B Issuer Credit Rating, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term issuer credit
ratings on France-based auto parts distribution company Autodis
Group S.A.S. and Luxembourg-registered Dakar Finance S.A., an
intermediate parent holding company of Autodis. The outlooks are
stable.

S&P said, "At the same time, we assigned our 'B' issue rating to
the proposed EUR175 million senior secured floating rate notes, to
be issued by Autodis S.A. The recovery rating on these notes is
'4', indicating our expectations of average recovery prospects
(30%-50%, rounded estimate 30%).

"In addition, we affirmed our existing 'B' issue ratings on the
group's EUR340 million senior secured floating rate notes and
EUR260 million senior secured fixed rate notes, both due 2022. The
recovery ratings on these notes remain '4', indicating our
expectations of average recovery prospects (30%-50%, rounded
estimate 30%).

"In addition, we affirmed our 'BB-' issue ratings on the group's
revolving credit facility (RCF), which is to be upsized by EUR30
million to EUR80 million, with a potential further increase to
EUR90 million. The recovery rating remains '1', indicating our
expectations of very high recovery prospects (90%-100%, rounded
estimate 95%). We also affirmed our 'CCC+' issue ratings on the
remaining EUR64 million payment-in-kind (PIK) notes at Dakar
Finance. The recovery rating remains at '6', indicating our
expectations of negligible recovery prospects (0%-10%, rounded
estimate 0%).

"We plan to withdraw our issuer level ratings on Dakar Finance and
the existing PIK notes once fully repaid.

"The affirmation reflects our view that Autodis will show
profitable growth and positive FOCF, with reduced leverage,
despite spending on acquisitions to support its growth strategy."

The EUR175 million gross proceeds from the notes issue will be
used to fund a distribution to intermediate parent holding company
Dakar Finance to fully repay EUR64 million outstanding under PIK
notes issued by Dakar Finance in 2015; EUR62 million drawings
under an RCF, which were used to finance recent acquisitions
(Geevers and G-Group); EUR46 million for general corporate
purposes; and EUR3 million in fees.

S&P said, "Pro forma of the transaction, we estimate S&P Global
Ratings-adjusted debt will rise by EUR135 million, to around
EUR1.1 billion. The new EUR175 million notes will be offset by the
repayment of EUR64 million of remaining PIK notes at Dakar
Finance, but added to by about EUR24 million of debt acquired
(from the Geevers and G-Group acquisitions). Our analytical
adjustments to reported gross debt of EUR696 million (as at Dec.
31, 2017) are approximately EUR131 million for operating leases,
EUR64 million of remaining PIK notes (to be repaid), EUR60 million
for off-balance sheet factoring, and EUR27 million for pensions.
We do not net cash from gross debt due to the company's private
equity ownership. At Dec. 31, 2017, our ratios of adjusted debt to
EBITDA was 7.5x and funds from operations to debt was 8%."

Autodis is a leading independent aftermarket distributor of
automotive spare parts in France, Italy, and Benelux countries.
S&P expects Autodis will continue to grow mainly by way of bolt-on
acquisitions in fragmented automotive distribution markets in
Western Europe, as it has done in recent years. These include
businesses in Benelux countries and in Italy including, this year,
Geevers and G-Group, as well as expanding its product range.

International expansion has somewhat diversified the revenue base,
reducing geographic revenues concentration in France from 91% in
2016 to 79% in 2017, which we view positively. However, S&P
continues to regard the group's business as rather limited in
scale, scope, and diversification.

Autodis stands to benefit from somewhat favorable industry trends
as auto parts distribution is less cyclical than new car sales and
depends primarily on the size of the car parc -- its average age
and the mileage. Over the next two years, S&P sees only limited
prospects for organic revenue growth in the French auto spare
parts independent aftermarket.

Autodis has been able to gradually strengthen its S&P Global
Ratings-adjusted EBITDA margins to 10.4% in 2017 from 9% in 2016.
When compared to peers, S&P considers Autodis' EBITDA margin to be
above average and it expects further strengthening, supported by
purchasing synergies from newly acquired businesses.

S&P said, "In 2018, we estimate that the company's S&P Global
Ratings-adjusted leverage will be about 6.0x-6.5x and FFO to
adjusted debt will be 9%-11%. In 2019, we expect adjusted leverage
to strengthen to 5.5x-6.0x and FFO to adjusted debt to 10%-12% due
to EBITDA growth. We expect Autodis to maintain positive FOCF in
2018 and 2019."

S&P's base case for 2018 and 2019 assumes:

-- Real GDP growth of 1.7% in 2018 and 1.6% in 2019 in the core
    geographic market, France.

-- Revenue growth supported by past and recent acquisitions.
    EBITDA margins to continue to strengthen to around 12% due to
    purchasing synergies.

-- Capital expenditures (capex) of about EUR35 million per year
    (2%-3% of revenues per year).

-- Further investments in working capital.

-- Bolt-on acquisitions of around EUR50 million per year.

-- No dividend payments.

Based on these assumptions, S&P arrived at the following credit
measures:

-- Adjusted debt-to-EBITDA ratio of about 6.0x-6.5x in 2018 and
    5.5x-6.0x in 2019.

-- FFO to debt of 9%-11% in 2018 and 10%-12% in 2019.

-- Positive FOCF in 2018 and 2019.

S&P said, "The stable outlook reflects our view that the company
will continue to show profitable growth with EBITDA margins of
around 12% and ongoing positive FOCF, with adjusted debt to EBITDA
ratios of 6.0x-6.5x in 2018 and 5.5x-6.0x in 2019, due mainly by
growth in EBITDA from acquisitions. This forecast assumes only
limited spending on such acquisitions, so should there be larger,
possibly debt-financed transactions, then these ratios may not be
achieved.

"We could lower the rating if Autodis undertakes a more aggressive
financial policy, such as additional debt financed acquisitions or
pays material dividends. Factors include debt to EBITDA increasing
beyond 7.5x. Another factor would be weaker profit margins, or
consistently negative FOCF, for example due to weaker market
conditions.

"We could consider raising the rating if the company generated
more sizable positive FOCF and maintained above average profit
margins, and showed a sustainable ratio of debt to EBITDA of below
5x."



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SWISS CAPITAL: Fitch Assigns 'B-' Long-Term IDR, Outlook Stable
---------------------------------------------------------------
Fitch Ratings has assigned JSC Microfinance Organization Swiss
Capital a Long-Term Issuer Default Rating of 'B-'. The Outlook is
Stable. Fitch has also assigned the company's proposed local bond
an expected senior unsecured 'B-(EXP)', aligned with the IDR. The
final rating is contingent upon the receipt of final documents
conforming to the information already received.

KEY RATING DRIVERS

IDRS AND SENIOR DEBT

The ratings of Swiss Capital reflect its business focus on
consumer and micro lending in the high-risk Georgian operating
environment, its rapid recent growth, and market and refinancing
risks resulting from a concentrated funding profile with a high
share of foreign currency. The ratings also reflect the company's
high risk appetite, which has resulted in large credit losses.
Such losses are being compensated by wide interest rate spreads,
while capitalisation is seen as a strength and should support
future rapid growth.

The ratings are constrained by Swiss Capital's mono-line business
model, as the company is focused on consumer and micro lending in
Georgia. The franchise is narrow as the company accounts for a low
5% of total microfinance sector assets, despite significant
lending expansion in 2014-2017 (43% average loan growth).

Swiss Capital at end-2017 reported a 15% non-performing loans
ratio (NPLs, loans overdue over 90 days to gross loans), while
reserve coverage of NPLs was low at 44% (11% and 51% at end-2016,
respectively). The unreserved portion of problem loans was 14.5%
of equity at end-2017, which is moderate in Fitch's view. At the
same time, the NPL origination ratio (defined as net increase in
NPLs plus write-offs divided by average performing loans) was 10%
in 2017, up from 3% in 2016.

Positively, the majority of loans are secured either with vehicles
(64% of the total) or with real estate (20%). Loans in foreign
currency, which Fitch views as higher-risk composed 20% of end-
2017 total loans but this portfolio is in run-off mode due to
regulatory restrictions.

Swiss Capital demonstrates strong, albeit rather volatile,
profitability, with the pre-tax profit-to-average assets ratio at
12% in 2017, down from 30% in 2016. Wide interest rate margin (45%
in 2017) was driving the bottom-line results. Due to these wide
margins impairment charges were a moderate 23% of pre-impairment
profit (4% of average loans), but would increase to over 50%
should the company fully provide for the new NPLs generated in
2017. Fitch expects Swiss Capital's profitability to moderate due
to recent regulatory initiatives to cap the interest rate for
microfinance organisations at 50% (2017 interest yield amounted to
49.6% of average portfolio).

Debt-to-tangible equity was a robust 84% at end-2017, and Swiss
Capital management plans to maintain it below 100% in the medium
term, supported by strong earnings and profit retention. Higher
than peers' capital adequacy mitigates Swiss Capital's elevated
credit risk and aggressive growth.

The main funding sources for Swiss Capital are concentrated and
short-term with the main sources being secured bank loans (39% of
total funding at end-2017), unsecured promissory notes and other
loans (38%) and related-party funding (23%). Regulator-imposed
limitations on promissory notes restricting individuals to hold
less than GEL100,000. Swiss Capital therefore needs to refinance
GEL3.7 million of promissory notes (12% of end-2017 funding).
Management plans to refinance those with a debut issue of local
bonds and/or bank financing. Short-term funding (maturing in 2018)
is a significant 48% of total debt, making Swiss Capital reliant
on refinancing and new borrowings.

RATING SENSITIVITIES

IDRS AND SENIOR DEBT

Improving asset quality metrics, coupled with a notable
strengthening of Swiss Capital's franchise and diversification of
funding, while maintaining strong profitability and capitalisation
would provide upside for the ratings.

The ratings could be downgraded due to significant pressure on
liquidity increasing refinancing risks or following deterioration
of asset quality and profitability leading to capital erosion.

The rating actions are as follows:

  Long-Term Foreign Currency Issuer Default Rating assigned at
  'B-'; Outlook Stable

  Long-Term Local Currency Issuer Default Rating assigned at 'B-';
  Outlook Stable

  Short-Term Foreign Currency Issuer Default Rating assigned at
  'B'

  Short-Term Local Currency Issuer Default Rating assigned at 'B'

  Expected senior unsecured rating at 'B-(EXP)', Recovery Rating
  'RR4'



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HELLENIC REPUBLIC: DBRS Raises LT Issuer Ratings to B(high)
-----------------------------------------------------------
DBRS Ratings Limited upgraded the Hellenic Republic's Long-Term
Foreign and Local Currency - Issuer Ratings from B to B (high) and
maintained the Positive trend. DBRS confirmed the Short-Term
Foreign and Local Currency - Issuer Ratings at R-4 with a Stable
trend.

KEY RATING CONSIDERATIONS

DBRS views the Eurogroup statement with respect to the Hellenic
Republic published on the June 22, 2018 as warranting an
extraordinary review of the sovereign rating. The subsequent
upgrade is underpinned by new medium-term debt relief measures and
clarification on the size of the liquidity backstop included
therein. DBRS views the debt relief as being supportive of public
debt repayment capacity in the medium term. Following completion
of the European Stability Mechanism (ESM) Third Economic
Adjustment Programme in August the liquidity backstop provides a
precautionary funding buffer while Greece returns to bond
issuance; and a portion of it is planned to be used to amortize
debt.

The expected unprecedented activation of the European Commission's
(EC) quarterly reporting under the "Enhanced Surveillance"
mechanism, in Greece's case, linking additional beneficial
financial measures to post programme policy commitments, is
another positive rating factor. This should provide an additional
incentive to encourage Greece to stay on course with structural
reforms, thereby supporting economic growth. Improvements in the
'Debt and Liquidity' building block of our methodology underpin
the upgrade.

The Positive trend reflects the likelihood that Greece will
continue on its reform path under the enhanced surveillance
mechanism and gradually return to market funding. The benefits of
euro zone membership as demonstrated by EU institutional support
to Greece since 2010, as well as marked progress with fiscal
adjustment and structural reforms are credit strengths. Challenges
include the still very high level of public debt and still weak
banks' asset quality.

RATING DRIVERS

Triggers for an upgrade include: (1) continued implementation of
fiscal and structural reforms to support future economic growth;
(2) compliance with post-programme monitoring; and (3) greater
bond market access.

By contrast, a return to a Stable trend could stem from: (1) a
reversal or stalling in structural reforms; (2) material fiscal
slippage (3) renewed financial-sector instability.

RATING RATIONALE

Debt Sustainability is Partially Addressed with Official Sector
Debt Relief

New measures announced by the Eurogroup include a further deferral
of EFSF interest and amortizations by 10 years and an extension of
the weighted average maturity by 10 years. In addition, and
conditional on compliance with policy commitments and monitoring,
the abolition of the step-up interest rate margin related to the
debt buy-back tranche of the second Greek programme was outlined.
As was the use of 2014 Security Markets Programme (SMP) profits
from the ESM segregated account and the restoration of the
transfer of ANFA and SMP income equivalent amounts -- if
conditions are met to be disbursed in equal portions on a semi-
annual basis in December and June from 2018 to June 2022.

The new debt measures improve the EC's projections of debt and
gross financing needs (GFN) (% of GDP) under a baseline and
adverse scenario. In the baseline scenario, from 188.6% in 2018
the debt ratio declines to 96.8% in 2060 compared with 127% prior
to the measures. Moreover, the measures extend the time period the
GFN remains below the 15% benchmark. The GFN ratio lies below the
20% longer term benchmark throughout the forecast period with the
new measures. A cash buffer of EUR24bn accounting for almost two
years of Greece's debt repayment needs provides a key backstop.
This allows time for Greece to demonstrate continuation of
policies that are supportive to growth raising confidence in the
government's ability to stay on track. EUR5.5bn of the final
programme tranche of EUR15bn is set-aside for amortization.

Completion of the Fourth and Final Review to Increase Confidence,
Supporting Additional Improvement in the Banks

Economic confidence is supported by the successful conclusion of
the fourth and final review, as has been the case with past review
completions. After a prolonged period of recession, the Greek
economy moved to expansionary territory in 2017, with real GDP
increasing by 1.4%. The main drivers were goods and services
exports and investment, while consumption and goods and services
imports had a negative impact on growth. The growth rate was below
the 1.8% estimated by the government in the 2018 budget, however,
it is the strongest growth Greece recorded in its decade-long
crisis.

The 2.3% growth in the first quarter of this year, due to stronger
growth in exports of goods and services, suggests that the gradual
recovery is strengthening. According to the European Commission,
real GDP is expected to reach 1.9% this year with private
consumption and investment being the main contributors, on the
back of the significant improvement in the labor market and the
business climate. On the back of the labor market reforms,
employment has been growing and the unemployment rate has been
falling amounting to 20.1% in March 2018, however, it remains the
highest in the EU. DBRS considers that the continuation of the
reform effort and safeguarding the reforms that have already been
adopted, will support Greece's ability to remain on a sustained
growth path.

Greece's banks' profitability continues to improve helped by more
positive economic developments. However, high levels of impaired
assets prevail, with a non-performing exposure ratio of 43.1% at
end-December 2017. This year, reduced reliance on the ECB's
Emergency Liquidity Assistance (ELA) is reflected in the decline
in the ceiling from EUR24.8bn in mid-December to EUR10.9bn
according to most recent data. This demonstrates banks' improved
liquidity including access to wholesale markets. Also, deposits
placed by the private sector increased at an annual rate of 7.4%
in May. Capital controls introduced in June 2015 have been eased;
credit to the domestic private sector is stabilizing. The waiver
related to the use of Greek bonds as collateral for financing
operations with the ECB is to be reviewed by the end of the
programme in August, but estimates suggest that if it is
withdrawn, banks should fill the gap with repatriating deposits,
secured interbank funding, or if necessary, with more expensive
ELA. It is possible that the enhanced surveillance to be put in
place will support a decision on the continuation of the waiver.

Stronger GDP Boosts Employment Growth to Help Achieve Primary
Fiscal Surplus

Greece has managed to restore its fiscal sustainability. Since
2010, it went through an unprecedented fiscal adjustment, with the
cumulative improvement in the primary balance exceeding 16
percentage points in 2017. For a second consecutive year Greece
delivered a primary surplus of 4.2% well above the 1.75% target
set by the programme. The target for the primary surplus is set at
3.5% a year in 2019-2022. DBRS considers that the fiscal reforms
undertaken under the adjustment programs have restored Greece's
fiscal sustainability, however its durability is contingent on the
sustained economy recovery.

Since the Crisis the External Imbalances Have Receded
Substantially

Greece's current account deficit has been on an improving trend,
falling by almost 12 percentage points since 2009. The current
account deficit in 2017 was 0.8% of GDP compared with a deficit
high of 12.3% of GDP in 2009. In 2018, the current account is
expected to be around the 2017 levels, supported by the strong
performance of exports of goods and services. Greece's exports of
goods have increased by 58% since 2009 in nominal terms. The
strong services balance also contributed, increasing to a surplus
of 9.8% of GDP in 2017 from a surplus of 4.8% of GDP in 2009. This
is mainly attributed to the improvement in the travel balance,
with tourist revenues increasing by 10.8% in 2017 due to an
increase in the number of inbound visitors and a rise in the
expenditure per trip. Foreign arrivals increased by 9.7% in 2017
and are expected to grow even more strongly in 2018 mainly driven
by increased air connectivity and the extension of the tourist
season.

From a stock perspective, Greece's negative net international
investment position (NIIP) remains high at 141.4% of GDP at end-
2017 up from 88.8% in 2011, mostly reflecting public sector
external debt. It is expected to remain at high levels because of
the long-term horizon of foreign official-sector loans to the
public sector. A current account close to balance, if sustained,
should prevent a material deterioration in the external borrowing
position.

DBRS Currently Sees a Durable Commitment to Reforms

Greece's political landscape changed drastically during the crisis
years, resulting in five national elections, eight prime ministers
and four coalition governments. The SYRIZA-ANEL coalition
government elected in September 2015, despite the slim
parliamentary majority, is the longest-serving since the onset of
the debt crisis in 2009. However, the legislation of a number of
unpopular measures had a negative impact on popular support for
SYRIZA. The latest opinion polls show that the center-right, New
Democracy is leading by almost 10 percentage points. DBRS
believes, that the increased political stability observed over the
last two years is likely to be maintained after the end of the
current adjustment programme and we do not expect any policy
reversals under a potential New Democracy-led government.

RATING COMMITTEE SUMMARY

The DBRS Sovereign Scorecard generates a result in the BB
(high) - BB (low) range. Additional considerations factored into
the Rating Committee decision include the high debt stock and the
political challenge of remaining on track with the fiscal and
reform agenda. The main points discussed during the Rating
Committee include the impact of the June 22 Eurogroup statement on
debt relief and the cash buffer, as well as recent economic and
financial trends.

KEY INDICATORS

Fiscal Balance (% GDP): 0.8 (2017); 0.8 (2018F); 0.9 (2019F)
Gross Debt (% GDP): 178.6 (2017); 179.5 (2018F); 177.9 (2019F)
Nominal GDP (EUR billions): 177.2 (2017); 184.8 (2018F); 192.4
(2019F)
GDP per Capita (EUR): 16,641 (2017); 17,307 (2018F); 18,120
(2019F)
Real GDP growth (%): 1.4 (2017); 1.9 (2018F); 2.3 (2019F)
Consumer Price Inflation (%): 1.1 (2017); 0.7 (2018F); 1.1 (2019F)
Domestic Credit (% GDP): 132.0 (Sep-2017)
Current Account (% GDP): -1.1 (2017); -0.8 (2018F); -0.6 (2019F)
International Investment Position (% GDP): -139.5 (2016); -141.4
(2017)
Gross External Debt (% GDP): 248.2 (2016); 228.6 (2017)
Governance Indicator (percentile rank): 62.5 (2016)
Human Development Index: 0.87 (2015)

Notes: All figures are in Euros unless otherwise noted. Public
finance statistics reported on a general government basis unless
specified. Governance indicator represents an average percentile
rank (0-100) from Rule of Law, Voice and Accountability and
Government Effectiveness indicators (all World Bank). Human
Development Index (UNDP) ranges from 0-1, with 1 representing a
very high level of human development.



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CARLYLE EURO 2018-2: Moody's Rates Class E Notes '(P)B2'
--------------------------------------------------------
Moody's Investors Service announced that it has assigned the
following provisional ratings to notes to be issued by Carlyle
Euro CLO 2018-2 Designated Activity Company:

EUR2,000,000 Class X Senior Secured Floating Rate Notes due 2031,
Assigned (P)Aaa (sf)

EUR232,000,000 Class A-1-A Senior Secured Floating Rate Notes due
2031, Assigned (P)Aaa (sf)

EUR16,000,000 Class A-1-B Senior Secured Floating Rate Notes due
2031, Assigned (P)Aaa (sf)

EUR7,868,000 Class A-2-A Senior Secured Floating Rate Notes due
2031, Assigned (P)Aa2 (sf)

EUR20,000,000 Class A-2-B Senior Secured Fixed Rate Notes due  
2031, Assigned (P)Aa2 (sf)

EUR12,632,000 Class A-2-C Senior Secured Floating Rate Notes due
2031, Assigned (P)Aa2 (sf)

EUR7,802,000 Class B-1 Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)A2 (sf)

EUR18,948,000 Class B-2 Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)A2 (sf)

EUR20,000,000 Class C Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)Baa2 (sf)

EUR25,750,000 Class D Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)Ba2 (sf)

EUR12,000,000 Class E Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)B2 (sf)

Moody's issues provisional ratings in advance of the final sale of
financial instruments, but these ratings only represent Moody's
preliminary credit opinions. Upon a conclusive review of a
transaction and associated documentation, Moody's will endeavor to
assign definitive ratings. A definitive rating (if any) may differ
from a provisional rating.

RATINGS RATIONALE

Moody's provisional ratings of the rated notes address the
expected loss posed to noteholders by the legal final maturity of
the notes in 2031. The provisional ratings reflect the risks due
to defaults on the underlying portfolio of loans given the
characteristics and eligibility criteria of the constituent
assets, the relevant portfolio tests and covenants as well as the
transaction's capital and legal structure. Furthermore, Moody's is
of the opinion that the collateral manager, CELF Advisors LLP, has
sufficient experience and operational capacity and is capable of
managing this CLO.

Carlyle Euro CLO 2018-2 Designated Activity Company is a managed
cash flow CLO. At least 90% of the portfolio must consist of
senior secured loans and senior secured bonds and up to 10% of the
portfolio may consist of unsecured obligations, second-lien loans,
mezzanine loans and high yield bonds. The portfolio is expected to
be approximately 95% ramped up as of the closing date and to be
comprised predominantly of corporate loans to obligors domiciled
in Western Europe.

CELF Advisors will manage the CLO. It will direct the selection,
acquisition and disposition of collateral on behalf of the Issuer
and may engage in trading activity, including discretionary
trading, during the transaction's four-year reinvestment period.
Thereafter, purchases are permitted using principal proceeds from
unscheduled principal payments and proceeds from sales of credit
risk obligations, and are subject to certain restrictions.

In addition to the eleven classes of notes rated by Moody's, the
Issuer will issue EUR35.25M of subordinated notes, which will not
be rated.

The transaction incorporates interest and par coverage tests
which, if triggered, divert interest and principal proceeds to pay
down the notes in order of seniority.

Methodology Underlying the Rating Action:

The principal methodology used in these ratings was "Moody's
Global Approach to Rating Collateralized Loan Obligations"
published in August 2017.

Factors that would lead to an upgrade or downgrade of the ratings:

The rated notes' performance is subject to uncertainty. The notes'
performance is sensitive to the performance of the underlying
portfolio, which in turn depends on economic and credit conditions
that may change. CELF Advisors' investment decisions and
management of the transaction will also affect the notes'
performance.

Loss and Cash Flow Analysis:

Moody's modeled the transaction using CDOEdge, a cash flow model
based on the Binomial Expansion Technique, as described in Section
2.3 of the "Moody's Global Approach to Rating Collateralized Loan
Obligations" rating methodology published in August 2017. The cash
flow model evaluates all default scenarios that are then weighted
considering the probabilities of the binomial distribution assumed
for the portfolio default rate. In each default scenario, the
corresponding loss for each class of notes is calculated given the
incoming cash flows from the assets and the outgoing payments to
third parties and noteholders. Therefore, the expected loss or EL
for each tranche is the sum product of (i) the probability of
occurrence of each default scenario and (ii) the loss derived from
the cash flow model in each default scenario for each tranche. As
such, Moody's encompasses the assessment of stressed scenarios.

Moody's used the following base-case modeling assumptions:

Par amount: EUR 400,000,000

Diversity Score: 44

Weighted Average Rating Factor (WARF): 2900

Weighted Average Spread (WAS): 3.60%

Weighted Average Coupon (WAC): 4.00%

Weighted Average Recovery Rate (WARR): 44.0%

Weighted Average Life (WAL): 8.75 years*

*8.75 years WAL was modelled instead of 8.5 years as according to
the WAL definition only full quarters are counted and
determination date is almost always before payment date so that
the current quarter won't be counted.

Moody's has analysed the potential impact associated with
sovereign related risk of peripheral European countries. As part
of the base case, Moody's has addressed the potential exposure to
obligors domiciled in countries with local currency country risk
ceiling of A1 or below. Following the effective date, and given
the portfolio constraints and the current sovereign ratings in
Europe, such exposure may not exceed 10% of the total portfolio.
As a result and in conjunction with the A3 local currency country
risk ceiling the eligibility criteria, as a worst case scenario, a
maximum 10% of the pool would be domiciled in countries with A3.
The remainder of the pool will be domiciled in countries which
currently have a local currency country risk ceiling of Aaa or Aa1
to Aa3.

Stress Scenarios:

Together with the set of modeling assumptions, Moody's conducted
additional sensitivity analysis, which was an important component
in determining the provisional ratings assigned to the rated
notes. This sensitivity analysis includes increased default
probability relative to the base case. Here is a summary of the
impact of an increase in default probability (expressed in terms
of WARF level) on each of the rated notes (shown in terms of the
number of notch difference versus the current model output,
whereby a negative difference corresponds to higher expected
losses), holding all other factors equal.

Change in WARF: WARF + 15% (to 3335 from 2900)

Ratings Impact in Rating Notches:

Class X Senior Secured Floating Rate Notes: 0

Class A-1-A Senior Secured Floating Rate Notes: 0

Class A-1-B Senior Secured Floating Rate Notes: -1

Class A-2-A Senior Secured Floating Rate Notes: -2

Class A-2-B Senior Secured Fixed Rate Notes: -2

Class A-2-C Senior Secured Floating Rate Notes: -2

Class B-1 Senior Secured Deferrable Floating Rate Notes: -2

Class B-2 Senior Secured Deferrable Floating Rate Notes: -2

Class C Senior Secured Deferrable Floating Rate Notes: -2

Class D Senior Secured Deferrable Floating Rate Notes: -1

Class E Senior Secured Deferrable Floating Rate Notes: 0

Percentage Change in WARF: WARF +30% (to 3770 from 2900)

Ratings Impact in Rating Notches:

Class X Senior Secured Floating Rate Notes: 0

Class A-1-A Senior Secured Floating Rate Notes: -1

Class A-1-B Senior Secured Floating Rate Notes: -3

Class A-2-A Senior Secured Floating Rate Notes: -3

Class A-2-B Senior Secured Fixed Rate Notes: -3

Class A-2-C Senior Secured Floating Rate Notes: -3

Class B-1 Senior Secured Deferrable Floating Rate Notes: -4

Class B-2 Senior Secured Deferrable Floating Rate Notes: -4

Class C Senior Secured Deferrable Floating Rate Notes: -3

Class D Senior Secured Deferrable Floating Rate Notes.-2

Class E Senior Secured Deferrable Floating Rate Notes: -3


CARLYLE EURO 2018-2: Fitch Rates Class E Debt 'B-(EXP)sf'
---------------------------------------------------------
Fitch Ratings has assigned Carlyle Euro CLO 2018-2 DAC expected
ratings, as follows:

EUR2 million Class X: 'AAA(EXP)sf'; Outlook Stable

EUR232 million Class A-1A: 'AAA(EXP)sf'; Outlook Stable

EUR16 million Class A-1B: 'AAA(EXP)sf'; Outlook Stable

EUR7.868 million Class A-2A: 'AA(EXP)sf'; Outlook Stable

EUR20 million Class A-2B: 'AA(EXP)sf'; Outlook Stable

EUR12.632 million Class A-2C: 'AA(EXP)sf'; Outlook Stable

EUR7.802 million Class B-1: 'A(EXP)sf'; Outlook Stable

EUR18.948 million Class B-2: 'A(EXP)sf'; Outlook Stable

EUR20 million Class C: 'BBB(EXP)sf'; Outlook Stable

EUR25.75 million Class D: 'BB(EXP)sf'; Outlook Stable

EUR12 million Class E: 'B-(EXP)sf'; Outlook Stable

EUR35.25 million subordinated notes: not rated

The assignment of the final ratings is contingent on the receipt
of final documents conforming to information already reviewed.

Carlyle Euro CLO 2018-2 DAC is a cash flow collateralised loan
obligation (CLO). Net proceeds from the issuance of the notes will
be used to purchase a portfolio of EUR400 million of mostly
European leveraged loans and bonds. The portfolio is actively
managed by CELF Advisors LLP. The CLO envisages a 4.25-year
reinvestment period and an 8.5-year weighted average life (WAL).

KEY RATING DRIVERS

'B'/'B-' Portfolio Credit Quality

Fitch places the average credit quality of the obligors in the 'B'
range. The Fitch weighted average rating factor (WARF) of the
identified portfolio is 33.5, below the indicative maximum
covenant of 34.

Recovery Expectations

At least 90% of the portfolio will consist of senior secured
obligations. Fitch views the recovery prospects for these assets
as more favourable than for second-lien, unsecured and mezzanine
assets. The Fitch weighted average recovery rate (WARR) of the
identified portfolio is 65.9%%, above the minimum covenant of
63.5%.

Stress Portfolio

For the analysis, Fitch created a stress portfolio based on the
transaction's portfolio profile tests and collateral quality
tests. These included a top 10 obligor limit at 20%, an 8.5-year
weighted average life, top industry limit at 17.5% with the top
three industries at 40%, and a maximum 'CCC' bucket at 7.5%.

Limited Interest Rate Exposure

Up to 10% of the portfolio can be invested in fixed-rate assets,
while fixed-rate liabilities represent 5% of the target par. Fitch
modelled both 0% and 10% fixed rate buckets and found that the
rated notes can withstand the interest rate mismatch associated
with each scenario.

RATING SENSITIVITIES

A 125% default multiplier applied to the portfolio's mean default
rate, and with this increase added to all rating default levels,
would lead to a downgrade of up to two notches for the rated
notes. A 25% reduction in recovery rates would lead to a downgrade
of up to four notches for the rated notes.

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO RULE 17G-10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

The majority of the underlying assets or risk-presenting entities
have ratings or credit opinions from Fitch and/or other Nationally
Recognised Statistical Rating Organisations and/or European
Securities and Markets Authority-registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information.

Overall, Fitch's assessment of the asset pool information relied
upon for the agency's rating analysis according to its applicable
rating methodologies indicates that it is adequately reliable.

SOURCES OF INFORMATION

The information here was used in the analysis.

  - Loan-by-loan data provided by Deutsche Bank as at June 25,
    2018
  
  - Draft offering circular provided by Deutsche Bank as at June
    25, 2018


RICHMOND PARK: Moody's Assigns (P)B2(sf) Rating to Cl. F-R Notes
----------------------------------------------------------------
Moody's Investors Service has assigned provisional ratings to ten
classes of notes to be issued by Richmond Park CLO Designated
Activity Company:

EUR1,600,000 Class X Senior Secured Floating Rate Notes due 2031,
Assigned (P)Aaa (sf)

EUR321,900,000 Class A Senior Secured Floating Rate Notes due
2031, Assigned (P)Aaa (sf)

EUR 18,500,000 Class B-1 Senior Secured Floating Rate Notes due
2031, Assigned (P)Aa2 (sf)

EUR 15,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2031,
Assigned (P)Aa2 (sf)

EUR 23,100,000 Class B-3 Senior Secured Floating Rate Notes due
2031, Assigned (P)Aa2 (sf)

EUR 13,000,000 Class C-1 Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)A2 (sf)

EUR 21,000,000 Class C-2 Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)A2 (sf)

EUR 22,800,000 Class D-R Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)Baa2 (sf)

EUR 31,000,000 Class E-R Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)Ba2 (sf)

EUR 14,300,000 Class F-R Senior Secured Deferrable Floating Rate
Notes due 2031, Assigned (P)B2 (sf)

Moody's issues provisional ratings in advance of the final sale of
financial instruments, but these ratings only represent Moody's
preliminary credit opinions. Upon a conclusive review of a
transaction and associated documentation, Moody's will endeavour
to assign definitive ratings. A definitive rating (if any) may
differ from a provisional rating.

RATINGS RATIONALE

Moody's provisional ratings of the rated notes address the
expected loss posed to noteholders by the legal final maturity of
the notes in July 2031. The provisional ratings reflect the risks
due to defaults on the underlying portfolio of assets, the
transaction's legal structure, and the characteristics of the
underlying assets. Furthermore, Moody's is of the opinion that the
Collateral Manager, Blackstone/GSO Debt Funds Management Europe
Limited ("Blackstone/GSO") has sufficient experience and
operational capacity and is capable of managing this CLO.

The Issuer will issue the Class X Notes, the Class A Notes, the
Class B-1 Notes, the Class B-2 Notes, the Class B-3 Notes, the
Class C-1 Notes, the Class C-2 Notes, the Class D-R Notes, the
Class E-R Notes and the Class F-R Notes in connection with the
refinancing of the Class A-1 Senior Secured Floating Rate due
2027, the Class A-2 Senior Secured Floating Rate Notes due 2027,
the Class B Senior Secured Deferrable Floating Rate Notes due
2027, the Class C Senior Secured Deferrable Floating Rate Notes
due 2027, the Class D Senior Secured Deferrable Floating Rate
Notes due 2027 and the Class E Senior Secured Deferrable Floating
Rate Notes due 2027, originally issued on January 9, 2014. The
Class A-1 Senior Secured Floating Rate due 2027, the Class A-2
Senior Secured Floating Rate Notes due 2027, the Class B Senior
Secured Deferrable Floating Rate Notes due 2027, the Class C
Senior Secured Deferrable Floating Rate Notes due 2027, the Class
D Senior Secured Deferrable Floating Rate Notes due 2027 were
refinanced on October 16, 2017. The Issuer will use the proceeds
from the issuance of the Refinancing Notes to redeem in full the
Original Notes that will be refinanced. On the Original Issue
Date, the Issuer also issued EUR 67,550,000 of unrated
Subordinated Notes, which will remain outstanding.

Richmond Park is a managed cash flow CLO. At least 90% of the
portfolio must consist of secured senior obligations and up to 10%
of the portfolio may consist of unsecured senior loans, unsecured
senior bonds, second lien loans, mezzanine obligations, high yield
bonds and/or first lien last out loans. The portfolio is expected
to be fully invested at closing and comprised predominantly of
corporate loans to obligors domiciled in Western Europe.

Blackstone/GSO will manage the CLO. It will direct the selection,
acquisition and disposition of collateral on behalf of the Issuer
and may engage in trading activity, including discretionary
trading, during the transaction's three-years reinvestment period.
Thereafter, purchases are permitted using principal proceeds from
unscheduled principal payments and proceeds from the sale of
credit risk obligations and credit improved obligations, and are
subject to certain restrictions.

The transaction incorporates interest and par coverage tests
which, if triggered, divert interest and principal proceeds to pay
down the notes in order of seniority.

Methodology Underlying the Rating Action:

The principal methodology used in these ratings was "Moody's
Global Approach to Rating Collateralized Loan Obligations"
published in August 2017.

Factors that would lead to an upgrade or downgrade of the ratings:

The performance of the notes is subject to uncertainty. The
performance of the notes is sensitive to the performance of the
underlying portfolio, which in turn depends on economic and credit
conditions that may change. The Manager's investment decisions and
management of the transaction will also affect the performance of
the notes.

Loss and Cash Flow Analysis:

Moody's modeled the transaction using a cash flow model based on
the Binomial Expansion Technique, as described in Section 2.3 of
the "Moody's Global Approach to Rating Collateralized Loan
Obligations" rating methodology published in August 2017.

The cash flow model evaluates all default scenarios that are then
weighted considering the probabilities of the binomial
distribution assumed for the portfolio default rate. In each
default scenario, the corresponding loss for each class of notes
is calculated given the incoming cash flows from the assets and
the outgoing payments to third parties and noteholders. Therefore,
the expected loss or EL for each tranche is the sum product of (i)
the probability of occurrence of each default scenario and (ii)
the loss derived from the cash flow model in each default scenario
for each tranche. As such, Moody's encompasses the assessment of
stressed scenarios.

The key model inputs Moody's used in its analysis, such as par,
weighted average rating factor, diversity score and the weighted
average recovery rate, are based on its published methodology and
could differ from the trustee's reported numbers.

For modeling purposes, Moody's used the following base-case
assumptions:

Target Par Amount: EUR515,000,000

Defaulted par: EUR13,020,406(1)

Diversity Score: 44

Weighted Average Rating Factor (WARF): 2850

Weighted Average Spread (WAS): 3.45%

Weighted Average Fixed Coupon (WAC): 4.00%

Weighted Average Recovery Rate (WARR): 44.50%

Weighted Average Life (WAL): 7 years

(1) Collateral Administrator report as of June 12, 2018

As part of its analysis, Moody's has addressed the potential
exposure to obligors domiciled in countries with local currency
government bond ratings of A1 or below. According to the portfolio
eligibility criteria, obligors must be domiciled in a jurisdiction
the Moody's local currency country risk ceiling of which is at
least "A3". In addition, according to the portfolio constraints,
the total exposure to countries with a local currency country bond
ceiling ("LCC") of "A1" or below shall not exceed 10.0%. Given
this portfolio composition, and in accordance with its
methodology, Moody's did not adjust the target par amount
depending on the target rating of each class of notes.

Stress Scenarios:

Together with the set of modeling assumptions, Moody's conducted
an additional sensitivity analysis, which was a component in
determining the provisional ratings assigned to the rated notes.
This sensitivity analysis includes increased default probability
relative to the base case.

Here is a summary of the impact of an increase in default
probability (expressed in terms of WARF level) on the notes (shown
in terms of the number of notch difference versus the current
model output, whereby a negative difference corresponds to higher
expected losses), assuming that all other factors are held equal.

Percentage Change in WARF -- increase of 15% (from 2850 to 3278)

Rating Impact in Rating Notches:

Class X Senior Secured Floating Rate Notes: 0

Class A Senior Secured Floating Rate Notes: 0

Class B-1 Senior Secured Floating Rate Notes: -2

Class B-2 Senior Secured Fixed Rate Notes: -2

Class B-3 Senior Secured Floating Rate Notes: -2

Class C-1 Senior Secured Deferrable Floating Rate Notes: -2

Class C-2 Senior Secured Deferrable Floating Rate Notes: -2

Class D-R Senior Secured Deferrable Floating Rate Notes: -2

Class E-R Senior Secured Deferrable Floating Rate Notes: -1

Class F-R Senior Secured Deferrable Floating Rate Notes: -1

Percentage Change in WARF -- increase of 30% (from 2850 to 3705)

Class X Senior Secured Floating Rate Notes: 0

Class A Senior Secured Floating Rate Notes: -1

Class B-1 Senior Secured Floating Rate Notes: -3

Class B-2 Senior Secured Fixed Rate Notes: -3

Class B-3 Senior Secured Floating Rate Notes: -3

Class C-1 Senior Secured Deferrable Floating Rate Notes: -4

Class C-2 Senior Secured Deferrable Floating Rate Notes: -4

Class D-R Senior Secured Deferrable Floating Rate Notes: -2

Class E-R Senior Secured Deferrable Floating Rate Notes: -2

Class F-R Senior Secured Deferrable Floating Rate Notes: -3


RICHMOND PARK: Fitch Assigns 'B-(EXP)' Rating to Class F Debt
-------------------------------------------------------------
Fitch Ratings has assigned Richmond Park CLO Designated Activity
Company expected ratings, as follows:

EUR1.6 million Class X: 'AAA(EXP)sf'; Outlook Stable

EUR321.9 million Class A: 'AAA(EXP)sf'; Outlook Stable

EUR16.6 million Class B-1: 'AA(EXP)sf'; Outlook Stable

EUR15 million Class B-2: 'AA(EXP)sf'; Outlook Stable

EUR25 million Class B-3: 'AA(EXP)sf'; Outlook Stable

EUR9 million Class C-1: 'A(EXP)sf'; Outlook Stable

EUR25 million Class C-2: 'A(EXP)sf'; Outlook Stable

EUR22.8 million Class D: 'BBB(EXP)sf'; Outlook Stable

EUR31 million Class E: 'BB(EXP)sf'; Outlook Stable

EUR14.3 million Class F: 'B-(EXP)sf'; Outlook Stable

EUR67.55 million subordinated notes: not rated

The assignment of the final ratings is contingent on the receipt
of final documents conforming to information already reviewed.

Richmond Park CLO Designated Activity Company is a cash flow
collateralised loan obligation (CLO). Net proceeds from the
issuance of the notes will be used to reset a portfolio of EUR515
million of mostly European leveraged loans and bonds. The
portfolio is actively managed by Blackstone/GSO Debt Funds
Management Europe Limited. The CLO envisages a three-year
reinvestment period and a seven-year weighted average life (WAL).

KEY RATING DRIVERS

'B' Portfolio Credit Quality

Fitch places the average credit quality of the obligors in the 'B'
range. The Fitch weighted average rating factor (WARF) of the
identified portfolio is 32, below the indicative maximum covenant
of 33.

High Recovery Expectations

At least 90% of the portfolio will consist of senior secured
obligations. Fitch views the recovery prospects for these assets
as more favourable than for second-lien, unsecured and mezzanine
assets. The Fitch weighted average recovery rate (WARR) of the
identified portfolio is 67.1%, above the minimum covenant of 64.6%

Stress Portfolio

For the analysis, Fitch created a stress portfolio based on the
transaction's portfolio profile tests and collateral quality
tests. These included a top 10 obligor limit at 20%, a seven-year
weighted average life, a top industry limit at 17.5% with the top
three industries at 40%, and a maximum 'CCC' bucket at 7.5%.

Limited Interest Rate Exposure

Up to 10% of the portfolio can be invested in fixed-rate assets,
while fixed-rate liabilities represent 2.9% of the target par.
Fitch modelled both 0% and 10% fixed rate buckets and found that
the rated notes can withstand the interest rate mismatch
associated with each scenario.

RATING SENSITIVITIES

A 125% default multiplier applied to the portfolio's mean default
rate, and with this increase added to all rating default levels,
would lead to a downgrade of up to two notches for the rated
notes. A 25% reduction in recovery rates would lead to a downgrade
of up to four notches for the rated notes.

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO RULE 17G-10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

The majority of the underlying assets or risk-presenting entities
have ratings or credit opinions from Fitch and/or other Nationally
Recognised Statistical Rating Organisations and/or European
Securities and Markets Authority-registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information.

Overall, Fitch's assessment of the asset pool information relied
upon for the agency's rating analysis according to its applicable
rating methodologies indicates that it is adequately reliable.



=========
I T A L Y
=========


AC MILAN: Chinese Owner Fails to Repay Debt to Elliot Management
----------------------------------------------------------------
Murad Ahmed, Robert Smith and Rachel Sanderson at The Financial
Times report that AC Milan, one of European football's most
successful clubs, is close to being taken over by the Elliott
Management, after its Chinese owner failed to repay debt owed to
the US-based hedge fund.

Li Yonghong, who acquired the Italian club last year, has failed
to make a EUR32 million payment, which was due to paid to Elliott
last week, the FT relays, citing people close to AC Milan's
leadership.

Mr. Li also required high-interest loans worth more than EUR300
million from the hedge fund founded by billionaire Paul Singer in
order to fund the acquisition, the FT states.

According to the FT, people with knowledge of the situation said
Mr. Li appears not to have paid the latest installment due on the
debt, putting Elliott in position to take full control of the club
as soon as Monday, July 9.

These people added that Elliott's intentions for the club remain
unclear, with reports suggesting that Mr. Li is still seeking a
buyer or new funding, the FT notes.

The club's leadership has been in turmoil through the course of
last season, the FT relates.

Hopes that revenues at AC Milan could be boosted through on-pitch
performance were dashed by its failure to qualify for next
season's Champions League, the continent's lucrative and
prestigious club tournament, which it has won seven times in the
past, the FT discloses.

In May, Uefa, European football's governing body, banned AC Milan
from participating in any European competition, saying it had
breached its so-called Financial Fair Play rules due to issues
around spending on players and concerns about the club's attempts
to refinance its loans, the FT recounts.


GOLDEN BAR 2016-1: DBRS Confirms BB Issuer Rating on Cl. D Notes
----------------------------------------------------------------
DBRS Ratings Limited confirmed its ratings on the bonds issued by
Golden Bar (Securitization) S.r.l. - Series 2016-1 as follows:

-- Class A Notes at A (low) (sf)
-- Class B Notes at BBB (high) (sf)
-- Class C Notes at BBB (sf)
-- Class D Notes at BB (sf)

The rating on the Class A Notes addresses the timely payment of
interest and ultimate payment of principal on or before the final
legal maturity date. The ratings on the Class B Notes, Class C
Notes and Class D Notes address the ultimate payment of interest
and principal on or before the legal final maturity date.

The rating actions follow an annual review of the transaction and
are based on the following analytical considerations:

-- Portfolio performance, in terms of delinquencies, defaults and
losses as of the April 2018 payment date.

-- Probability of default (PD), loss given default (LGD) and
expected loss assumptions on the remaining receivables.

-- Current available credit enhancement (CE) to the notes to
cover the expected losses at their respective rating levels.

-- No Purchase Termination Events have occurred.

The Issuer is a securitization of salary assignment, pension
assignment and delegation of payment receivables originated in
Italy by Santander Consumer Bank S.p.A. The transaction is
currently in its four-year ramp-up period, which is scheduled to
terminate in July 2020. During the ramp-up period, the Seller may
assign subsequent portfolios to the Issuer, subject to certain
conditions. Additional portfolios are funded through principal
collections on the receivables or additional subscription of the
notes up to the programme limit of EUR 1.3 billion.

PORTFOLIO PERFORMANCE

As of April 2018, loans that were two- to three-months in arrears
represented 0.1% of the outstanding portfolio balance, down from
0.2% in April 2017. The 90+ delinquency ratio was 0.1%, up from
0.0% in April 2017. The cumulative default ratio was 4.2%.

CREDIT ENHANCEMENT

As of the April 2018 payment date, CE to the Class A, Class B,
Class C and Class D Notes was 20.5%, 18.0%, 14.5% and 9.5%,
respectively. These levels have been stable since the DBRS initial
rating because of the transaction ramp-up period.

The transaction benefits from a Cash Reserve, which covers senior
fees, interest shortfall and principal losses on the Class A to D
Notes. The Cash Reserve is currently at its target level of EUR
27.5 million. Following additional subscriptions of the Notes, the
cash reserve can reach a level of EUR 32.5 million. The Cash
Reserve is permitted to amortize provided that certain conditions
have been met.

The transaction also benefits from a non-amortizing liquidity
reserve funded to its target level of EUR 22.0 million, which
covers senior fees and any interest shortfall on the Class A
Notes. The target balance of the liquidity reserve is 2.00% of the
total subscription amount, and can therefore reach EUR 26.0
million following additional subscriptions.

Banco Santander SA acts as the account bank for the transaction.
On the basis of the account bank reference rating of A (high) -
being one notch below the DBRS public Long-Term Critical
Obligations Rating of Banco Santander SA of AA (low) - and the
mitigants outlined in the transaction documents, DBRS considers
the risk arising from the exposure to the banks to be consistent
with the rating assigned to the Class A Notes.



===================
L U X E M B O U R G
===================


DAKAR FINANCE: Moody's Affirms B2 CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service has affirmed the B2 corporate family
rating (CFR) and B2-PD probability of default rating (PDR) of
Dakar Finance S.A. (Autodis or the company), a leading distributor
of aftermarket parts for light vehicles and trucks in the
independent automotive aftermarket in France, the Benelux and
Italy. Moody's also affirmed the B2 rating on the senior secured
fixed rate and floating rate notes due 2022 and issued by Autodis
S.A. This also includes the new EUR175 million add-on to the
existing floating rate notes. The outlook on all ratings is
stable.

Net proceeds from the additional notes will be used to fully
redeem the EUR64 million of outstanding senior pay-if-you-can
(PIYC) notes due 2020 at Dakar Finance S.A. as well as repay the
EUR62 million currently drawn under the revolving credit facility
(RCF) due 2020. EUR46 million will be left on the balance sheet
for general corporate purposes including, in part, potential
acquisitions.

The Caa1 rating on the senior PIYC notes is unchanged and will be
withdrawn upon redemption of the notes. Concurrently, Moody's
expects to move the CFR to Autodis Group S.A.S., which is the top
entity of restricted group for the senior secured notes, from
Dakar Finance S.A.

"We view Autodis' CFR as weakly positioned due to the high
Moody's-adjusted leverage of 7.0x at closing but expect the
leverage to reduce towards 6.0x in the next 12 to 18 months,
driven by modest organic growth, procurement synergies and EBITDA-
accretive acquisitions funded with excess cash", says Eric Kang,
Moody's lead analyst for Autodis. "However, the company's
acquisitive strategy could slow the deleveraging profile if future
acquisitions are funded with additional debt", adds Mr. Kang.

RATINGS RATIONALE

The B2 CFR with a stable outlook balances the high pro-forma
Moody's-adjusted debt/EBITDA of 7.0x as of March 2018 (pro-forma
for the envisaged refinancing transaction and completed
acquisitions, and before future synergies) with Moody's
expectation that modest organic growth, procurement synergies, and
EBITDA-accretive acquisitions funded with excess cash will support
deleveraging towards 6.0x in the next 12 to 18 months. Moody's
also cautions that the B2 CFR is weakly positioned, and that
material deleveraging will remain constrained by the company's
aggressive debt-funded acquisitions strategy.

Moody's views the markets in which Autodis operates as fairly
mature, and therefore expect organic growth to be flat to slightly
positive driven by car parc growth, car parc aging, increase in
average car mileage and spare parts price increases due to
increasing complexity of parts.

Moody's also expects the company to continue playing an active
role in the consolidation of the independent automotive
aftermarket channel. It completed the acquisition of Geevers in
May 2018, a leading independent distributor of car body parts in
the Benelux, and G-Group in June 2018, a leading distributor of
auto parts in central and southern Italy. These acquisitions will
strengthen Autodis' market position in the Benelux and Italy as
well as generate procurement synergies but these benefits are
initially offset by the company's aggressive financial policy
evidenced by its track record of debt-funded acquisitions. Moody's
nonetheless notes that the company has to date a good track record
in integrating and extracting synergies from acquired companies.

Lastly, Moody's expects the company to generate free cash flow of
around EUR30 million in 2018 compared to EUR35 million in 2017.
This reflects large working capital outflows estimated at around
EUR25-30 million reflecting the company's strategy to improve
product availability at its new Logisteo automated logistic
platform, and annual capex of around EUR35 million broadly at the
same level as last year.

LIQUIDITY

Autodis' liquidity is adequate reflecting Moody's expectation of
modest positive free cash flow generation in the next 12 to 18
months, closing cash of approximately EUR105 million, as well as
access to a EUR80 million revolving credit facility (undrawn) and
on- and off-balance sheet factoring facilities of EUR190 million
in aggregate with an average utilisation of EUR60 million
throughout the year. That said, Moody's understands that the
company plans to use part of its cash balances to fund potential
acquisitions. Moody's also understands that certain RCF lenders
have offered to increase the total commitment under the RCF by
EUR10 million but this has not yet been formally documented.

The RCF benefits from a springing financial maintenance covenant,
set at 0.7x super senior net leverage when the RCF is drawn. A
breach of this maintenance covenant triggers a draw-stop, but not
an event of default.

STRUCTURAL CONSIDERATIONS

The weakly positioned B2 rating on the senior secured notes, at
the same level as the CFR, reflects their subordination to the
relatively small super senior RCF ranking ahead as well as trade
payables at operating subsidiaries mitigating the senior secured
notes relatively weak guarantor and security packages. While the
RCF benefits from the same security package as the notes, it will
rank ahead of the notes in an enforcement scenario under the
provisions of the intercreditor agreement. Also, the obligations
of the notes' subsidiary guarantor are capped at EUR200 million.

RATING OUTLOOK

The stable outlook assumes that modest organic growth, procurement
synergies, EBITDA-accretive acquisitions funded with excess cash
will lead to a reduction in Autodis' debt/EBITDA towards 6.0x in
the next 12 to 18 months. Given the weak rating positioning, the
stable outlook does not tolerate any deterioration in operating
performance, or material debt-funded acquisitions or distributions
to shareholders.

FACTORS THAT COULD LEAD TO AN UPGRADE/DOWNGRADE

While unlikely in the near term given the weak rating positioning,
Moody's will consider upgrading Autodis' ratings if growth in
earnings and a more conservative financial policy would result in
a Moody's-adjusted debt/EBITDA of below 5.0x on a sustained basis,
free cash flow/debt of around 5%, and a good liquidity.

Conversely, Moody's will consider downgrading Autodis' ratings in
the event of weaker operating performance or a more aggressive
debt-funded acquisition strategy which would result in the
Moody's-adjusted debt/EBITDA remaining well above 6.0x for an
extended period of time. Weakening liquidity or sustained weak to
negative free cash flow will also exert downward pressure on the
ratings.



=====================
N E T H E R L A N D S
=====================


NORTH WESTERLY V: Fitch Assigns 'B-(EXP)' Rating to Cl. F Notes
---------------------------------------------------------------
Fitch Ratings has assigned North Westerly V B.V. notes expected
ratings, as follows:

Class A: 'AAA(EXP)sf'; Outlook Stable

Class B-1: 'AA(EXP)sf'; Outlook Stable

Class B-2: 'AA(EXP)sf'; Outlook Stable

Class C: 'A(EXP)sf'; Outlook Stable

Class D: 'BBB(EXP)sf'; Outlook Stable

Class E: 'BB(EXP)sf'; Outlook Stable

Class F: 'B-(EXP)sf'; Outlook Stable

Subordinated notes: not rated

North Westerly V B.V. is a cash flow collateralised loan
obligation (CLO). Net proceeds from the notes will be used to
purchase a portfolio of EUR400 million of mostly European
leveraged loans and bonds. The portfolio is actively managed by
NIBC Bank N.V. The CLO envisages a four-year reinvestment period
and an 8.5 year weighted average life (WAL)

The assignment of final ratings is contingent on the receipt of
final documents conforming to information already received.

KEY RATING DRIVERS

'B+'/'B' Portfolio Credit Quality

Fitch places the average credit quality of obligors in the
'B+'/'B' range. The Fitch-weighted average rating factor (WARF) of
the identified portfolio is 31.12, below the indicative maximum
covenant WARF of 33.5 for assigning the expected ratings.

High Recovery Expectations

At least 90% of the portfolio comprises senior secured
obligations. Fitch views the recovery prospects for these assets
as more favourable than for second-lien, unsecured and mezzanine
assets. The Fitch-weighted average recovery rate (WARR) of the
current portfolio is 66.14 above the indicative minimum covenant
WARR of 62.5 for assigning the expected ratings

Diversified Asset Portfolio

The covenanted maximum exposure to the top 10 obligors for
assigning the expected ratings is 20% of the portfolio balance.
The transaction also includes limits on maximum industry exposure
based on Fitch industry definitions. The maximum exposure to the
three largest (Fitch-defined) industries in the portfolio is
covenanted at 40%. These covenants ensure that the asset portfolio
will not be exposed to excessive concentration.

Reinvestment Criteria Similar to Peers

The transaction features a four-year reinvestment period and
includes reinvestment criteria similar to other European
transactions. Fitch's analysis is based on a stressed-case
portfolio with the aim of testing the robustness of the
transaction structure against its covenants and portfolio
guidelines.

Ratings Resilient to Rate Mismatch: Fitch used a customised
proprietary cash flow model to replicate the principal and
interest waterfalls and the various structural features of the
transaction, and to assess their effectiveness, including the
structural protection provided by excess spread diverted through
the par value and interest coverage tests.

A maximum of 5% of the portfolio can be invested in fixed-rate
assets, while fixed-rate liabilities represent 2.5% of the target
par. Fitch modelled both 0% and 5% fixed-rate buckets and found
that the rated notes can withstand the interest rate mismatch
associated with each scenario.

RATING SENSITIVITIES

A 125% default multiplier applied to the portfolio's mean default
rate, and with this increase added to all rating default levels,
would lead to a downgrade of up to two notches for the rated
notes. A 25% reduction in recovery rates would lead to a downgrade
of up to five notches for the rated notes.

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO RULE 17G-10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

The majority of the underlying assets or risk-presenting entities
have ratings or credit opinions from Fitch and/or other Nationally
Recognised Statistical Rating Organisations and/or European
Securities and Markets Authority-registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information.
Overall, Fitch's assessment of the asset pool information relied
upon for the agency's rating analysis according to its applicable
rating methodologies indicates that it is adequately reliable.

SOURCES OF INFORMATION

The information here was used in the analysis.

  - Offering circular and structure information provided by
    Morgan Stanley as at June 19, 2018
  
  - Loan by loan information provided by NIBC Bank N.V. as at
    June 6, 2018



===============
S L O V E N I A
===============


TELEKOM SLOVENIJE: S&P Puts 'BB+' ICR on CreditWatch Negative
-------------------------------------------------------------
S&P Global Ratings placed its 'BB+' long-term issuer credit rating
on Slovenian incumbent telecommunications network operator Telekom
Slovenije, d.d. on CreditWatch with negative implications.

S&P said, "The CreditWatch placement captures our view that a
higher-than-expected dividend payment will significantly reduce
Telekom Slovenije's cash balances and require the company to draw
on a combination of committed long-term and short-term credit
facilities, increasing its reliance on short-term credit
facilities if it does not successfully secure additional long-term
funding.

"The CreditWatch placement follows the company's annual general
meeting in May, where management proposed a total dividend pay-out
of about EUR41 million, but the Slovenian sovereign holding that
manages the 72% direct and indirect government stake in Telekom
Slovenije instead implemented a dividend pay-out of EUR93 million.

"Aside from modest cash balances and its funds from operations
(FFO), Telekom Slovenije has an undrawn EUR70 million revolving
credit facility (RCF) due October 2020 and EUR100 million of
credit lines with maturities of between six and 12 months with
which to fund both the dividend payment and its ongoing cash
needs. Its cash needs include sizable capital expenditure (capex).
Although capex could now be reduced, we had estimated it at EUR140
million-EUR160 million for the next 12 months, including spectrum
costs. Even with lower capex, we anticipate that the company will
likely have to draw on both the RCF and short-term lines to pay
the dividend.

"We acknowledge that the company is currently in the process of
securing additional long-term credit lines of up to EUR200 million
and has received government approval to do so, as long as it
completes the process by mid-December 2018. The CreditWatch
placement incorporates our view that the company's capacity to
absorb further liquidity setbacks would structurally weaken if
this process fails. Nevertheless, we anticipate that the company's
solid credit metrics--our forecast adjusted debt to EBITDA for
2018 and 2019 stands at 2.0x-2.5x -- suggests that it will succeed."

One reason why Telekom Slovenije makes frequent use of short-term
facilities is that it requires government approval to issue debt
with maturities of more than 12 months and the process can be
time-consuming.

S&P added: "Our assessments of Telekom Slovenije's business and
financial risk are broadly unchanged and were described in our
previous summary analysis on Telekom Slovenije, published on Jan.
5, 2018. We aim to resolve the CreditWatch placement within the
next six months, based on the timeframe set by the company and the
window for debt issuance set by the government.

"We could lower the rating if we no longer view Telekom
Slovenije's liquidity as adequate. This will likely happen if it
does not strengthen its liquidity profile by issuing sufficient
additional long-term funding or agreeing additional RCFs within
the set timeframe. This could be combined with additional
liquidity relief achieved by making small asset disposals or
lowering capex. We could also lower the rating if there were
further unexpected and material liquidity outflows. A downgrade
would likely be limited to one notch due the company's low
leverage and its position as Slovenia's incumbent network
operator. This leads us to believe that the company, in
cooperation with the government, would have solid access to
funding sources and seek to avoid even more serious situations of
liquidity distress.

"We could affirm the rating if Telekom Slovenije manages to secure
sufficient additional long-term funding or agree additional RCFs,
potentially combined with cash from smaller asset disposals."



=========
S P A I N
=========


AYT GENOVA X: S&P Affirms B-(sf) Rating on Class B Notes
--------------------------------------------------------
S&P Global Ratings took various credit rating actions in two
Spanish residential mortgage-backed securities (RMBS)
transactions, AyT Genova Hipotecario IX Fondo de Titulizacion
Hipotecaria and AyT Genova Hipotecario X Fondo de Titulizacion
Hipotecaria.

S&P said, "The rating actions follow the application of our
relevant criteria and our full analysis of the most recent
transaction information that we have received, and reflect the
transactions' current structural features. We have also considered
our updated outlook assumptions for the Spanish residential
mortgage market.

"Our structured finance ratings above the sovereign (RAS) criteria
classify the sensitivity of these transactions as moderate.
Therefore, after our March 23, 2018, upgrade of Spain to 'A-' from
'BBB+', the highest rating that we can assign to the senior-most
tranche in these transactions is six notches above the sovereign
rating on Spain, or 'AAA (sf)', if certain conditions are met. For
all the other tranches, the highest rating that we can assign is
four notches above the sovereign rating.

"Following the sovereign upgrade, on April 6, 2018, we raised to
'A' from 'A-' our long-term issuer credit rating (ICR) on Banco
Santander S.A., which is the swap provider in these transactions.
We also raised to 'BBB+' from 'BBB' our long-term ICR on CaixaBank
S.A., which is the bank account provider in Genova Hipotecario X.

"Considering the remedial actions defined in the swap agreements,
and the current ICR on Banco Santander, the maximum rating on the
notes is not constrained according to our counterparty criteria.
However in AyT Genova Hipotecario X, the downgrade language in the
transaction account provider documents stipulates that the bank
account provider (Caixabank; BBB+/Stable/A-2) has to put in place
remedies, in line with our current counterparty criteria, to
support a minimum rating of 'A- (sf)' on the notes.

"Our European residential loans criteria, as applicable to Spanish
residential loans, establish how our loan-level analysis
incorporates our current opinion of the local market outlook. Our
current outlook for the Spanish housing and mortgage markets, as
well as for the overall economy in Spain, is benign. Therefore, we
revised our expected level of losses for an archetypal Spanish
residential pool at the 'B' rating level to 0.9% from 1.6%, in
line with table 87 of our European residential loans criteria, by
lowering our foreclosure frequency assumption to 2.00% from 3.33%
for the archetypal pool at the 'B' rating level."

GENOVA IX

The application of S&P's European residential loans criteria
resulted in the following weighted-average foreclosure frequency
(WAFF) and weighted-average loss severity (WALS) assumptions:

  Rating level     WAFF (%)   WALS (%)

  AAA                 8.46       15.21
  AA                  5.80       11.03
  A                   4.40        5.24
  BBB                 3.26        2.78
  BB                  2.16        2.00
  B                   1.31        2.00

S&P said, "The class A2, B, C, and D notes' credit enhancement is
8.5%, 6.3%, 4.1%, and 2.0%, respectively, and it has been stable
since our previous review due to the pro rata amortization of the
notes. The reserve fund is amortizing and is at its required
level.

"The transaction has performed in line with our expectations and
arrears have always been lower than our Spanish RMBS index.
Cumulative defaults, which stand at 1.1% of the original pool
balance, are also lower than other Spanish RMBS transactions that
we rate. The collateral's strong quality is due to the strong
underwriting procedures for granted mortgage loans with a
weighted-average original loan-to-value (LTV) ratio that is lower
than other Spanish mortgage lenders.

"Following the application of our criteria, we have determined
that our assigned ratings on the classes of notes in this
transaction should be the lower of (i) the rating as capped by our
RAS criteria, (ii) the rating as capped by our counterparty
criteria, or (iii) the rating that the class of notes can attain
under our European residential loans criteria.

"Taking into account the results of our updated credit and cash
flow analysis, we consider the available credit enhancement for
the class A2 notes to be commensurate with a higher rating than
previously assigned. We have therefore raised to 'AAA (sf)' from
'AA+ (sf)' and removed from CreditWatch positive our rating on
this class of notes.

"We consider the available credit enhancement for the class B and
C notes to be commensurate with higher ratings than previously
assigned. We have therefore raised to 'A+ (sf)' from 'BBB+ (sf)'
and removed from CreditWatch positive our rating on the class B
notes. We have also raised to 'BBB+ (sf)' from 'BB+ (sf)' and
removed from CreditWatch positive our rating on the class C notes.
The upgrades are lower than the ratings indicated by our cash flow
results as we take into account the fact the credit enhancement
has not increased since our previous review because of the pro
rata priority of payments, the amortizing reserve fund, and the
lack of excess spread.

"Credit enhancement has remained stable for the class D notes due
to the pro-rata priority of payments. This class did not pass our
cash flow analysis at any rating level. Following the application
of our criteria and guidance for assigning 'CCC' category ratings,
we believe that payments on this class of notes do not depend upon
favorable financial and economic conditions. We have therefore
affirmed and removed from CreditWatch positive our 'B (sf)' rating
on the class D notes."

GENOVA X

The application of S&P's European residential loans criteria
resulted in the following WAFF and WALS assumptions:

  Rating level     WAFF (%)   WALS (%)

  AAA                 7.74       14.80
  AA                  5.29       10.80
  A                   4.04        5.49
  BBB                 3.01        3.27
  BB                  2.01        2.07
  B                   1.25        2.00

S&P said, "The class A2, B, C, and D notes' credit enhancement is
13.0%, 9.0%, 6.0%, and 2.2%, respectively, and it has increased
since our previous review thanks to structural deleveraging. The
transaction pays sequentially as the reserve fund is below its
required level.

"The transaction has performed in line with our expectations and
arrears have always been lower than our Spanish RMBS index, but
slightly worse than other, more seasoned Genova transactions.
Cumulative defaults, which stand at 1.5% of the original pool
balance, are also lower than other Spanish RMBS transactions that
we rate. The collateral's strong quality is due to the strong
underwriting procedures for granted mortgage loans with a
weighted-average original LTV ratio that is lower than other
Spanish mortgage lenders.  

"Following the application of our criteria, we have determined
that our assigned ratings on the classes of notes in this
transaction should be the lower of (i) the rating as capped by our
RAS criteria, (ii) the rating as capped by our counterparty
criteria, or (iii) the rating that the class of notes can attain
under our European residential loans criteria.

"Our cash flow results indicate that the class A2, B, and C notes
can attain higher ratings than those previously assigned. As
mentioned above, the ratings in this transaction are capped at 'A-
(sf)' because of the downgrade language established in the
transaction account documentation. We have therefore affirmed our
'A- (sf)' ratings on the class A2 and B notes. We have also raised
to 'A- (sf)' from 'BBB+ (sf)' and removed from CreditWatch
positive our rating on the class C notes.

"Credit enhancement has risen for the class D notes due to the
sequential priority of payments. This class did not pass our cash
flow analysis at any rating level. Following the application of
our criteria, and considering that the reserve fund is not at its
required level, the lower observed actual recoveries than the one
prevailing in Genova Hipotecario IX, and our guidance for
assigning 'CCC' category ratings, we believe that payments on this
class of notes do not depend upon favorable financial and economic
conditions. We have therefore affirmed and removed from
CreditWatch positive our 'B- (sf)' rating on the class D notes."

AyT Genova Hipotecario IX and X are Spanish RMBS transactions that
closed in December 2006 and June 2007, respectively.

  RATINGS LIST

  Class             Rating
              To               From

  AyT Genova Hipotecario IX, Fondo de Titulizacion Hipotecaria    
  EUR1 Billion Mortgage-Backed Floating-Rate Notes

  Ratings Raised And Removed From CreditWatch Positive

  A2          AAA (sf)         AA+ (sf)/Watch Pos
  B           A+ (sf)          BBB+ (sf)/Watch Pos
  C           BBB+ (sf)        BB+ (sf)/Watch Pos

  Rating Affirmed And Removed From CreditWatch Positive

  D           B (sf)           B (sf)/Watch Pos

  AyT Genova Hipotecario X, Fondo de Titulizacion Hipotecaria
  EUR1.05 Billion Mortgage-Backed Floating-Rate Notes


  Ratings Affirmed

  A2          A- (sf) B           A-(sf)

  Rating Raised And Removed From CreditWatch Positive

  C           A- (sf)          BBB+ (sf)/Watch Pos


  Rating Affirmed And Removed From CreditWatch Positive

  B           B- (sf)          B- (sf)/Watch Pos


PYMES SANTANDER 12: DBRS Withdraws C Rating on Series C Notes
-------------------------------------------------------------
DBRS Ratings Limited discontinued its ratings on the Series A,
Series B and Series C Notes (the Notes) issued by FT PYMES
Santander 12 (the Issuer).

The discontinuations reflect the payment in full of the Notes on
June 28, 2018. The remaining balance and the ratings of the Notes
before the payment in full were:

-- EUR 29,847,930.00 Series A Notes at A (high) (sf)
-- EUR 700,000,00.00 Series B Notes at B (sf)
-- EUR 84,290,962.00 Series C Notes at C (sf)



===========
T U R K E Y
===========


BEREKET ENERJI: Puts Power Plants Up for Sale to Repay Debt
-----------------------------------------------------------
Kerim Karakaya, Ercan Ersoy and Asli Kandemir at Bloomberg News
report that Turkey's Bereket Enerji group has put power plants on
sale as part of plans to refinance and pay down its debts, joining
other Turkish power companies that are renegotiating their
foreign-currency loans with lenders.

According to Bloomberg, seven people with knowledge of the plan
said Bereket, based in Turkey's western Denizli province, hired
Istanbul-based Yapi Kredi Yatirim Degerler AS to sell its cascaded
Goktas I and Goktas II hydroelectric power plants, which have a
combined 275 megawatts of capacity on the Seyhan river in Turkey's
south

The people said there are several local suitors for the plants,
Bloomberg notes.  Two of the people, as cited by Bloomberg, said
Bereket is seeking to earn at least US$400 million from the sales.

Bereket's debt load is the third-biggest among companies that have
so far requested restructuring, according to data compiled by
Bloomberg.

Turkey's banks are facing a tidal wave of debt-restructuring
requests, including from power producers, amid the lira's
depreciation and rising borrowing costs, Bloomberg states.



===========================
U N I T E D   K I N G D O M
===========================


HONOURS PLC: Fitch Affirms 'CCsf' Rating on Class D Notes
---------------------------------------------------------
Fitch Ratings is maintaining Honours Plc class A and B notes on
Rating Watch Evolving (RWE) while affirming the junior classes as
follows:

  - Class A1 and A2; 'A+sf', RWE maintained
  
  - Class B: 'BB-sf'; RWE maintained
  
  - Class C: affirmed at 'CCCsf'; Recovery Estimate (RE) 35%
  
  - Class D: affirmed at 'CCsf'; RE 0%

This transaction is a refinancing of the previous Honours Plc
transaction that closed in 1999, which was a securitisation of
student loans originated in the UK by the Student Loans Company
Limited.

The notes were first placed on Rating Watch Negative in 2016
following the announcement that particular arrears notices sent by
former servicer Capita to certain borrowers may not have been in
compliance with consumer credit legislation. In October 2016, the
issuer provided an estimate of GBP22.5 million for interests and
charges, which was later revised to GBP9 million. In December
2017, Capita agreed to pay the issuer GBP8 million for full and
final settlement of any claims the issuer may have against Capita.
The settlement amount has been deposited into the issuer's
accounts. In January 2018, Fitch changed the Rating Watch to
Evolving.

KEY RATING DRIVERS

Persisting Uncertainty over Remediation Plan

The issuer's remediation proposal has been further delayed,
although it is expected to be close to being finalised. However,
uncertainty persists around the final impact of the remediation
costs, as the last estimate provided in January 2018 still did not
factor in potential refunds to students for the period from
January 2016 onwards, the refunds to the UK government arising
from overpayments under the subsidy and any implementation costs.
A resolution of the Rating Watch status is contingent on the
remediation proposal being finalised. In the meantime Fitch is
maintaining its total liability estimate of GBP12 million.

Deteriorating Performance Increases Risk

Delinquencies for this student loan type are seasonally highly
fluctuating, due to the annual reset of the deferral right, which
may trigger repayments for borrowers whose obligations were
previously deferred. Fitch identifies an uptrend in delinquencies
(overdue loans) over the last two to three years, which represent
a risk to future performance, and notes an increase in estimated
reinstatements. In the payment date of June 2018 the principal
deficiency ledger (PDL)-based trigger has been breached, causing
the transaction to switch to a sequential repayment. This had
already been incorporated in Fitch's expectations.

Fitch has derived a total default expectation of 12.7% and has
confirmed its recovery assumption at 25%. However, given the
persistent uncertainty around the total impact of the remediation
plan and the significant uptrend in delinquencies Fitch has
decided not to change the ratings and to maintain the class A and
B notes on RWE. This constitutes a variation to Fitch's criteria,
as model-implied results would have led to an upgrade on the class
A and B notes.

Rating Constrained by UK Sovereign

The transaction is strongly reliant on the UK government making
cancellation payments on deferred loans as well as interest
subsidy on the qualifying loan balance, hence capping the rating
of the notes to that of the UK sovereign (AA/Negative).

VARIATIONS FROM CRITERIA

Fitch continues to apply the criteria variation applied in its
prior rating action, by deviating from the model-implied results.
The model-implied ratings would have led to an upgrade on class A
and B notes by one notch.

RATING SENSITIVITIES

Fitch has tested several scenarios to assess the impact of
different liability assumptions and also modelled sensitivity
based on increased default and decreased recovery assumptions.

Change in the liability assumption to GBP7 million:

  - Class A: 'AA-sf'
  
  - Class B: 'BBB-sf'
  
  - Class C: below 'Bsf', RE 100%
  
  - Class D: below 'Bsf', RE 0%

Change in the liability assumption to GBP15 million:

  - Class A: 'A+sf'
  
  - Class B: 'BB-sf'
  
  - Class C: below 'Bsf', RE 40%
  
  - Class D: below 'Bsf', RE 0%

Increase in defaults and decrease in recoveries by 50%:

  - Class A: 'BBB-sf'
  
  - Class B: below 'Bsf', RE 85%
  
  - Class C: below 'Bsf', RE 0%
  
  - Class D: below 'Bsf', RE 0%

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO RULE 17G-10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset
pool and the transaction. There were no findings that affected the
rating analysis. Fitch has not reviewed the results of any third-
party assessment of the asset portfolio information or conducted a
review of origination files as part of its ongoing monitoring.

Fitch did not undertake a review of the information provided about
the underlying asset pool ahead of the transaction's initial
closing. The subsequent performance of the transaction over the
years is consistent with the agency's expectations given the
operating environment and Fitch is therefore satisfied that the
asset pool information relied upon for its initial rating analysis
was adequately reliable.

Overall and together with the assumptions referred, Fitch's
assessment of the information relied upon for the agency's rating
analysis according to its applicable rating methodologies
indicates that it is adequately reliable.


HOUSE OF FRASER: Landlords Oppose Restructuring Plans
-----------------------------------------------------
Harriet Brown at Drapers reports that House of Fraser's
restructuring plans faced tough opposition from landlords, and
several high-profile investors attempted to block the department
store chain's company voluntary arrangement (CVA).

Landlords including British Land, Derwent, and Aldgate Investment
voted against the proposals, Drapers relays, citing documents
filed on Companies House.

Other landlords, including Hammerson and Intu, voted in favor of
the proposals, Drapers discloses.

According to Drapers, a report of the voting outcome of the CVA
showed that 91.82% of creditors for House of Fraser (Stores)
Limited voted for the resolution, with 8.18% of creditors voting
against.

The report shows the outcome for one of the two CVA proposals
voted on by creditors, with a second CVA vote for House of Fraser
Limited due to be published, Drapers relates.

It is thought that discussions between landlords impacted by the
CVA and legal advisers are ongoing, while the businesses decide
whether to challenge the CVA in court, Drapers notes.


IRIS DEBTCO: Moody's Assigns B2 CFR, Outlook Stable
---------------------------------------------------
Moody's Investors Service has assigned a B2 corporate family
rating (CFR) and B2-PD probability of default rating (PDR) to UK
software provider IRIS Debtco Limited ('IRIS'). Concurrently,
Moody's has assigned B2 ratings to the proposed GBP440 million
senior secured term loan B, GBP40 million revolving credit
facility (RCF) and GBP75 million acquisition facility (ACF), which
shall be borrowed by IRIS Bidco Limited, all rank pari passu and
are due in 2025. The outlook on all ratings is stable.

The proceeds from the facilities, as well as from shareholder
funding, will be used primarily to fund IRIS's acquisition by the
new Hg Saturn Fund alongside Intermediate Capital Group for a
consideration of GBP1.3 billion.

The new ratings assignment mainly reflects the following factors:

  -- Solid track record of growth, with very high recurring
     revenues of 85%

  -- High Moody's-adjusted leverage at opening of 6.7x

  -- Relatively small scale and degree of geographic and product
     concentration

  -- Solid free cash flow, above 5% of adjusted debt in the next
     18 months

RATINGS RATIONALE

"IRIS's credit quality is constrained by its high Moody's-adjusted
opening leverage of 6.7x, relatively small scale and somewhat
concentrated business profile although Moody's expects that the
group can delever on a gross basis by approximately 0.5x per
annum, supported by organic EBITDA growth" says Frederic Duranson,
a Moody's Assistant Vice President and lead analyst for IRIS. "We
also forecast that IRIS will generate solid free cash flow
generation and maintain high margins since it enjoys significant
recurring revenues and satisfactory attrition rates," Mr. Duranson
adds.

IRIS's B2 CFR reflects its leading position in certain software
niches in the UK such as accountancy and parts of the education
sector whilst Moody's expects that all of the markets that the
group caters for, including payroll/HR and bookkeeping for small
businesses, will grow in the mid-to-high single digits in
percentage terms. In addition, IRIS provides mission-critical
products which require a deep understanding of UK-specific laws
and regulations, with annual or multi-year subscriptions (i.e
recurring revenues) covering around 85% of revenue and customer
churn around 5% among a diversified client base. IRIS also has a
track record of organic growth in revenues and EBITDA in the
region of 10% per annum in the last four years, coupled with
forecast Moody's-adjusted EBITDA Margin stable around 45% and
continued solid free cash flow generation in the range of GBP30
million -- GBP40 million per annum.

However, IRIS's rating is constrained by the expected high
Moody's-adjusted gross debt/EBITDA of 6.7x at closing (pro forma
for the financing transaction) and Moody's expectation that the
group will continue to be acquisitive, which will probably slow
the deleveraging trajectory should it resort to debt financing.
Furthermore, IRIS is solely exposed to the UK and is reliant on a
few main products for revenue and cash flow generation, with a
shorter track record and less established market positions in
segments it has entered over the past few years.

The group will continue to benefit from healthy growth in its end-
markets, in mid-to-high single digits on average in percentage
terms. Moody's expects that underlying market growth and IRIS's
track record will result in revenue growth in the high-single
digits in percentage terms, with similar growth in EBITDA.
Therefore, the rating agency forecasts a stable Moody's-adjusted
EBITDA margin of around 45%. This reflects investment in product
functionality and integration.

Moody's expects that IRIS's FCF/debt will remain well above 5% in
the next 12 to 18 months. Cash flow generation will be supported
by the absence of working capital needs, owing to advance billing
on subscriptions representing approximately 85% of revenues,
limited capex spend (including the capitalisation of software
development costs), which will average approximately 3% of
revenues. Nevertheless, cash conversion will be reduced by
relatively high interest payments which will represent the largest
single use of cash.

Moody's views IRIS's liquidity as good. The transaction is
expected to leave cash on balance sheet of GBP7.5 million at
closing, which will build up with solid FCF generation. The
liquidity profile will also be supported by the new 6.5-year GBP40
million RCF and GBP75 million ACF. Although Moody's anticipates
full availability to be maintained under the RCF, the ACF could be
used to finance continuous bolt-on acquisitions which cash
generation may not be sufficient to fund.

The B2 ratings on the GBP440 million senior secured term loan B
and pari passu ranking GBP40 million RCF and GBP75 million ACF, in
line with the CFR, reflect the fact that they are the only
financial instruments in the restricted group.

RATIONALE FOR STABLE OUTLOOK

The stable outlook on IRIS's ratings reflects Moody's expectation
of (1) organic revenue and EBITDA growth of at least 5% per annum
and customer attrition not exceeding 5% leading to, (2) Moody's-
adjusted gross debt/EBITDA reducing from its opening level of
6.7x, (3) positive free cash flow generation with FCF/debt of at
least 5% and adequate liquidity and, (4) the absence of material
debt-funded acquisitions or shareholder distributions.

WHAT COULD CHANGE THE RATING UP/DOWN

IRIS's ratings could experience positive pressure should (1) the
group continue to increase its scale and enhance its competitive
position in segments other than accountancy, without any
deterioration in customer attrition, (2) Moody's-adjusted gross
debt/EBITDA sustainably decrease towards 5.0x, (3) FCF/debt rise
to around 10% on a sustainable basis and, (4) IRIS demonstrate a
conservative policy with the absence of debt-funded acquisitions
or shareholder distributions.

Conversely, IRIS's ratings could come under downward pressure if
any of the conditions required for a stable outlook was not to be
met.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Software
Industry published in December 2015.

IRIS, based in England, provides business critical software
solutions such as accounting and tax, payroll, managed payroll and
human resources, and non-pupil-related back office applications in
the UK education sector. The group primarily caters for
accountancy practices, payroll bureaus and small and medium
enterprises (SMEs) in the UK. The group has over 1,500 employees.
Management estimate that the group had GBP150 million of revenues
in the fiscal year ended April 30, 2018 (including a full year
contribution of acquisitions made during fiscal 2018). A new fund
managed by Hg, IRIS's ultimate majority shareholder, is in the
process of acquiring the business alongside Intermediate Capital
Group (ICG) and management.


LONDON LIVE: Needs Extra Funding to Stay Afloat After Losses
------------------------------------------------------------
Jack Torrance at The Telegraph reports that struggling TV channel
London Live will be forced to ask owner Evgeny Lebedev for more
cash after posting another year of losses.

According to The Telegraph, the broadcaster's owner ESTV revealed
a pre-tax loss of GBP3.5 million for the year to September 2017
and said it would need extra funding to stay afloat "for the
foreseeable future" because its finances remain in the red.

The news comes after reports that Mr. Lebedev was in touch with
regional rivals Made TV and That's TV and some larger broadcasters
about a sale or merger of the loss-making channel, The Telegraph
notes.

The channel, which shows a mix of news, lifestyle and fictional
programs focused on the capital, has struggled to attract a big
audience, The Telegraph discloses.


OSE EUROPEAN: DFH Transport Buys Business Out of Administration
---------------------------------------------------------------
Nick Hill at BDaily News reports that North East haulage business
DFH Transport Limited has saved 43 jobs after acquiring OSE
European Limited out of administration.

Directors of Gateshead-based OSE had called in administrators from
Wilson Field on June 18 after the company suffered cash flow
problems and arrears with HMRC, BDaily News relates.

DFH Transport bought the business and its assets for an
undisclosed sum with all staff being transferred to the new
company under TUPE, BDaily News discloses.

According to BDaily News, Kelly Burton, director and insolvency
practitioner at Wilson Field, said: "OSE had suffered a bad debt
in 2014 and despite implementing cost-cutting measures,
restructuring finance and the director introducing personal funds
into the company, cash flow problems ensued resulting in the
company entering a Company Voluntary Arrangement in 2016.

"Following a downturn in trade the CVA contributions fell behind
and in early 2018, arrears with HMRC placed the company under the
threat of winding up proceedings."

OSE specialized in freight transport and provided road transport
solutions for the UK and continental Europe.



===============
X X X X X X X X
===============


* BOND PRICING: For the Week July 2 to July 6, 2018
---------------------------------------------------

Issuer                        Coupon   Maturity  Currency  Price
------                        ------   --------  --------  -----
FF Group Finance Luxembour    1.750   7/3/2019    EUR    43.850
FF Group Finance Luxembour    3.250  11/2/2021    CHF    43.322
Casino Guichard Perrachon     1.941               EUR    58.719
Andrade Gutierrez Internat    4.000  4/30/2018    USD    70.000
Aryzta AG                     5.314               CHF    67.275
Steinhoff Europe AG           1.875  1/24/2025    EUR    69.394
VIEO BV                       6.750   9/7/2022    EUR    69.110
Mitsubishi UFJ Investor Se    4.177 12/15/2050    EUR    53.279
Aryzta AG                     3.500               CHF    63.371
Rallye SA                     3.250   2/8/2024    CHF    73.066
Astaldi SpA                   4.875  6/21/2024    EUR    68.258
New Look Secured Issuer PL    6.500   7/1/2022    GBP    50.500
Holdikks SAS                  6.750  7/15/2021    EUR    46.728
O1 Properties Finance PLC     8.250  9/27/2021    USD    64.553
Galapagos Holding SA          7.000  6/15/2022    EUR    61.100
QGOG Constellation SA         6.250  11/9/2019    USD    28.856
Steinhoff Finance Holding     1.250 10/21/2023    EUR    46.803
Ageasfinlux SA                1.022               EUR    60.344
House of Fraser Funding PL    6.377  9/15/2020    GBP    73.090
Credit Bank of Moscow Via     8.875               USD    76.950
Agrokor dd                    9.875   5/1/2019    EUR    24.243
QGOG Constellation SA         9.500  11/9/2024    USD    38.844
Teva Pharmaceutical Financ    4.100  10/1/2046    USD    73.454
Ensco PLC                     5.750  10/1/2044    USD    71.620
Offshore Drilling Holding     8.375  9/20/2020    USD    51.058
Oi Brasil Holdings Coopera    5.750  2/10/2022    USD     7.050
EA Partners I BV              6.875  9/28/2020    USD    73.030
BNP Paribas SA                2.528               USD    71.990
Turkey Government Bond        7.100   3/8/2023    TRY    69.650
Portugal Telecom Internati    5.000  11/4/2019    EUR     5.193
Rothschilds Continuation F    2.750               USD    71.414
Agrokor dd                    9.125   2/1/2020    EUR    23.883
EA Partners II BV             6.750   6/1/2021    USD    69.134
Portugal Telecom Internati    4.625   5/8/2020    EUR     5.852
Vallourec SA                  4.125  10/4/2022    EUR     7.289
Bank Otkritie Financial Co   10.000  4/26/2019    USD    16.667
Agrokor dd                    8.875   2/1/2020    USD    24.347
Bourbon Corp                  6.446               EUR    47.000
Neopost SA                    3.375               EUR    56.590
OAS Investments GmbH          8.250 10/19/2019    USD     6.100
New Look Senior Issuer PLC    8.000   7/1/2023    GBP    26.125
Immigon Portfolioabbau AG     5.982               EUR    15.750
BIM SAS                       2.500 11/13/2020    EUR    23.221
Econocom Group SA/NV          0.500   3/6/2023    EUR     7.988
Societe Generale SA           2.545               USD    74.575
Rickmers Holding AG           8.875  6/11/2018    EUR     2.255
New Look Secured Issuer PL    4.500   7/1/2022    EUR    49.343
Maisons du Monde SA           0.125  12/6/2023    EUR    48.680
Nexans SA                     2.500   1/1/2019    EUR    74.029
Promsvyazbank OJSC Via PSB   10.200  11/6/2019    USD    14.442
EOS Imaging SA                6.000  5/31/2023    EUR     6.790
America Movil BV              5.500  9/17/2018    EUR    73.027
Air Berlin PLC                8.250  4/19/2018    EUR     0.455
Portugal Telecom Internati    5.875  4/17/2018    EUR     4.732
Grupo Isolux Corsan SA        3.000 12/30/2021    EUR     0.628
Portugal Telecom Internati    4.375  3/24/2017    EUR     5.025
Genfit                        3.500 10/16/2022    EUR    30.846
Nexity SA                     0.125   1/1/2023    EUR    71.170
ADLER Real Estate AG          2.500  7/19/2021    EUR    16.151
Pacific Drilling SA           5.375   6/1/2020    USD    37.250
Mriya Agro Holding PLC        9.450  4/19/2018    USD     7.750
Transcapitalbank JSC Via T   10.000  9/18/2020    USD    55.000
DNB Bank ASA                  2.375               USD    71.692
Korian SA                     2.500               EUR    41.310
Grupo Isolux Corsan SA        0.250 12/30/2021    EUR     0.622
Portugal Telecom Internati    4.500  6/16/2025    EUR     6.637
DNB Bank ASA                  2.563               USD    71.692
Nexity SA                     0.250   3/2/2025    EUR    70.268
Banco Espirito Santo SA       4.750  1/15/2018    EUR    28.656
Banco Espirito Santo SA       2.625   5/8/2017    EUR    28.777
Turkey Government Bond        8.800  9/27/2023    TRY    74.100
Oi Brasil Holdings Coopera    5.625  6/22/2021    EUR     6.984
OGX Austria GmbH              8.500   6/1/2018    USD     0.366
Johnston Press Bond Plc       8.625   6/1/2019    GBP    68.718
Air Berlin PLC                6.750   5/9/2019    EUR     1.076
Privatbank CJSC Via UK SPV   10.250  1/23/2018    USD    25.000
FIGEAC-AERO                   1.125 10/18/2022    EUR    24.770
Mitsubishi UFJ Investor Se    3.921 12/30/2099    EUR     5.365
Avangardco Investments Pub   10.000 10/29/2018    USD    19.667
EFG International AG          1.262               EUR    56.234
Scandinavian Airlines Syst    0.625               CHF    26.167
Capital Raising GmbH          7.500               EUR    54.268
Scholz Holding Gmbh           8.500 12/31/2019    EUR     2.210
Portugal Telecom Internati    6.250  7/26/2016    EUR     5.000
Yuksel Insaat AS              9.500 11/10/2015    USD    18.932
Lambay Capital Securities     6.250               GBP     0.898
Banco Espirito Santo SA       4.000  1/21/2019    EUR    29.266
DNB Bank ASA                  2.375               USD    71.692
Pierre & Vacances SA          2.000   4/1/2023    EUR    56.634
Afren PLC                     6.625  12/9/2020    USD     0.058
Tonon Luxembourg SA          10.500  5/14/2024    USD     4.000
WPE International Cooperat   10.375  9/30/2020    USD    17.750
Alitalia-Societa Aerea Ita    5.250  7/30/2020    EUR     5.230
Privatbank CJSC Via UK SPV   11.000   2/9/2021    USD    10.840
Fred Olsen Energy ASA         4.030  2/28/2019    NOK    58.845
Orient Express Bank PJSC V   10.000               USD    56.004
Claranova SADIR               5.000   7/1/2023    EUR     1.120
UkrLandFarming PLC           10.875  3/26/2018    USD    20.000
Bilt Paper BV                 9.640               USD    22.348
Frey                          6.000 11/15/2022    EUR #N/A N/A
Intelsat Luxembourg SA       12.500 11/15/2024    USD    95.000
New World Resources NV        8.000   4/7/2020    EUR     1.477
Virgolino de Oliveira Fina   10.500  1/28/2018    USD     5.288
QGOG Constellation SA         9.500  11/9/2024    USD    38.934
Hamon & CIE SA                5.500  1/30/2020    EUR    62.531
Banco Espirito Santo SA       7.125 11/28/2023    EUR     0.222
OSX 3 Leasing BV             13.000  3/20/2015    USD    25.003
Mriya Agro Holding PLC       10.950  3/30/2016    USD     7.340
Cattles Ltd                   7.125   7/5/2017    GBP     0.238
3W Power SA                  10.000  8/29/2019    EUR     2.559
Veneto Banca SpA              9.500  12/1/2025    EUR     0.307
Santhera Pharmaceuticals H    5.000  2/17/2022    CHF    72.345
Credit Lyonnais SACA          0.765               EUR    70.000
Stichting Afwikkeling Onde    6.250 10/26/2020    EUR     4.577
Lloyds Bank PLC               0.755 12/27/2028    USD    63.918
Deutsche Bank AG/London       0.279 10/31/2034    USD    56.366
Waste Italia SpA             10.500 11/15/2019    EUR     2.204
Norske Skog Holding AS        8.000  2/24/2021    EUR     1.173
Hellenic Republic Governme    2.085  7/25/2057    EUR    39.875
Alno AG                       8.500  5/14/2018    EUR     2.189
Manchester Building Societ    6.750               GBP    15.701
Virgolino de Oliveira Fina   11.750   2/9/2022    USD     5.097
NTRP Via Interpipe Ltd       10.250   8/2/2017    USD    29.512
Dexia Credit Local SA         1.404               EUR     6.611
Pescanova SA                  8.750  2/17/2019    EUR     1.616
SeniVita Sozial gemeinnuet    7.000               EUR    63.500
Credit Suisse AG              2.328  2/27/2030    USD    69.000
Lloyds Bank PLC               0.116 10/25/2033    USD    59.485
Aralco Finance SA            10.125   5/7/2020    USD     2.983
Lehman Brothers UK Capital    6.900               USD     2.744
International Industrial B    9.000   7/6/2011    EUR     0.363
Air Berlin PLC                5.625   5/9/2019    CHF     1.011
German Pellets GmbH           7.250   7/9/2018    EUR     0.940
Sairgroup Finance BV          4.375   6/8/2006    EUR    11.125
Espirito Santo Financial G    3.125  12/2/2018    EUR     0.271
Barclays Bank PLC             0.995  9/13/2028    USD    63.528
Allied Irish Banks PLC       12.500  6/25/2035    GBP    74.509
Andrade Gutierrez Internat    4.000  4/30/2018    USD    69.431
New World Resources NV        4.000  10/7/2020    EUR     0.151
Norske Skogindustrier ASA     7.000 12/30/2026    EUR     1.000
Natwest Markets PLC           0.072 11/16/2030    USD    60.894
Elli Investments Ltd         12.250  6/15/2020    GBP    50.000
Beate Uhse AG                 7.750   7/9/2019    EUR     1.785
Sidetur Finance BV           10.000  4/20/2016    USD     5.251
Credit Suisse AG              3.744  4/29/2031    USD    73.750
BBVA International Preferr    1.665               GBP    55.774
Kaupthing ehf                 7.625  2/28/2015    USD     0.250
QGOG Constellation SA         6.250  11/9/2019    USD    29.023
Barclays Bank PLC             0.875  3/27/2029    USD    59.098
Afren PLC                    10.250   4/8/2019    USD     0.366
Havila Shipping ASA           5.650  11/7/2020    NOK    62.432
Azubu Investments SA          5.000  8/25/2018    EUR    10.000
Stichting Afwikkeling Onde   11.250               EUR     1.073
Lehman Brothers UK Capital    5.125               EUR     7.379
OGX Austria GmbH              8.500   6/1/2018    USD     0.366
Touax SCA-SGTR-CITE-SGT-CM    6.000  7/10/2020    EUR    17.788
Offshore Drilling Holding     8.375  9/20/2020    USD    51.565
KTG Agrar SE                  7.125   6/6/2017    EUR     3.823
Cirio Holding Luxembourg S    6.250  2/16/2004    EUR     0.975
Inside Secure SA              6.000  6/29/2022    EUR     3.781
Hybrid Raising GmbH           6.625               EUR    54.096
Praktiker AG                  5.875  2/10/2016    EUR     1.085
Kommunekredit                 0.500  7/30/2027    TRY    28.198
Pescanova SA                  5.125  4/20/2017    EUR     1.276
Rem Offshore ASA              5.000  12/8/2024    NOK    49.990
OGX Austria GmbH              8.375   4/1/2022    USD     0.421
O1 Group Finance              9.750  4/22/2027    RUB     2.550
Breeze Finance SA             6.708  4/19/2027    EUR    29.050
Depfa Funding IV LP           1.547               EUR    57.167
Depfa Funding III LP          1.064               EUR    56.472
Espirito Santo Financial G    9.750 12/19/2025    EUR     0.542
LBI HF                        6.100  8/25/2011    USD     5.000
Eniro AB                      6.000  4/14/2020    SEK     5.184
GEWA 5 to 1 GmbH & Co KG      6.500  3/24/2018    EUR    23.050
Bank Nadra Via NDR Finance    8.250  7/31/2018    USD     0.884
Privatbank CJSC Via UK SPV   10.875  2/28/2018    USD    24.848
GNB - Cia de Seguros de Vi    3.179               EUR    73.626
Afren PLC                    11.500   2/1/2016    USD     0.082
Lehman Brothers UK Capital    3.875               EUR     8.246
Kaupthing ehf                 5.750  10/4/2011    USD     0.250
Sazka AS                      9.000  7/12/2021    EUR     0.304
German Pellets GmbH           7.250 11/27/2019    EUR     1.101
Vseukrainsky Aktsinerny Ba   10.900  6/14/2019    USD     0.546
Eurobank Ergasias SA          6.410  1/17/2028    EUR    66.790
Home Money LLC               18.000  4/19/2022    RUB    25.700
Havila Shipping ASA           4.940  11/7/2020    NOK    50.592
House of Fraser Funding PL    6.377  9/15/2020    GBP    73.108
Tonon Luxembourg SA           9.250  1/24/2020    USD     4.882
Agrokor dd                    8.875   2/1/2020    USD    24.691
Espirito Santo Financial G    6.875 10/21/2019    EUR     0.094
Norske Skogindustrier ASA     7.125 10/15/2033    USD     4.226
JZ Capital Partners Ltd       6.000  7/30/2021    GBP    10.300
Banco Pastor SAU              2.079               EUR     6.712
Cirio Finance Luxembourg S    7.500  11/3/2002    EUR     4.587
Dexia SA                      1.451               EUR     8.665
Republic of Italy Governme    0.077  7/31/2045    EUR    74.439
Volkswagen Bank Rus OOO       9.950  7/16/2021    RUB    81.780
Vneshprombank Ltd Via VPB     9.000 11/14/2016    USD     0.087
KPNQwest NV                   7.125   6/1/2009    EUR     0.090
Banca Popolare di Vicenza     9.500  9/29/2025    EUR     0.463
Banco Pinto & Sotto Mayor     1.127               EUR    47.560
Portigon AG                   7.460 12/31/2019    EUR    30.300
Del Monte Finance Luxembou    6.625  5/24/2006    EUR     4.777
Northland Resources AB        4.000 10/15/2020    USD     0.138
AgroGeneration                8.000   4/1/2019    EUR    65.000
Bibby Offshore Services PL    7.500  6/15/2021    GBP    14.766
Barclays Bank PLC             0.116  5/30/2034    USD    61.500
INVEST-DEVELOPMENT PJSC      15.000   4/2/2026    RUB    65.000
Petrol AD                     6.000  1/26/2022    EUR    31.653
Tatfondbank OAO Via TFB Fi    8.500 11/12/2019    USD     8.470
SeaBird Exploration Financ    6.000  6/30/2020    USD    20.000
Sequa Petroleum NV            5.000  4/29/2020    USD    69.761
World Wide Supply AS          7.750  5/26/2017    USD    15.259
Russian Railways JSC          7.250   4/4/2033    RUB    61.250
Teksid Aluminum Luxembourg   11.375  7/15/2011    EUR     0.139
Turkey Government Internat    7.100   3/8/2023    TRY    69.659
Societe Generale SA           8.250  5/26/2020    EUR    72.760
CRC Breeze Finance SA         6.110   5/8/2026    EUR    46.101
Pierre & Vacances SA          3.500  10/1/2019    EUR    37.724
Barclays Bank PLC             1.352  9/30/2031    USD    55.483
New Look Senior Issuer PLC    8.000   7/1/2023    GBP    26.125
Deutsche Bank AG/London       3.000  2/23/2035    EUR    75.000
Cirio Finanziaria SpA         8.000 12/21/2005    EUR     0.880
Lehman Brothers Treasury C    6.000  2/15/2035    EUR     6.000
SAG Solarstrom AG             7.500  7/10/2017    EUR    33.625
Banco Espirito Santo SA       6.875  7/15/2016    EUR    27.574
Lehman Brothers UK Capital    5.750               EUR     3.000
Cooperatieve Rabobank UA      0.500 10/30/2043    MXN    11.629
Lloyds Bank PLC               0.496   7/5/2033    USD    55.676
Windreich GmbH                6.500  7/15/2016    EUR    13.125
Air Berlin Finance BV         6.000   3/6/2019    EUR     1.220
Ideal Standard Internation   11.750   5/1/2018    EUR     0.740
Finmek International SA       7.000  12/3/2004    EUR     5.158
Deutsche Bank AG/London       0.164 11/26/2034    USD    54.832
Rena GmbH                     8.250  7/11/2018    EUR     2.000
Alpine Holding GmbH           5.250  6/10/2016    EUR     0.151
Koninklijke Luchtvaart Maa    0.750               CHF    36.500
International Industrial B   11.000  2/19/2013    USD     0.209
Cooperatieve Rabobank UA      0.500  2/26/2029    HUF    60.500
Mobylife Holding A/S          7.250  5/23/2020    SEK     8.263
PNE AG                        3.750 10/10/2019    EUR     3.400
Corporate Commercial Bank     8.250   8/8/2014    USD     1.854
Lehman Brothers Treasury C    7.250  10/5/2035    EUR     6.000
Barclays Bank PLC             0.060 11/29/2030    USD    60.649
OT Logistics SA               6.810  2/23/2020    PLN    65.100
O1 Properties Finance PLC     8.250  9/27/2021    USD    67.281
Manchester Building Societ    8.000               GBP    21.697
Bank Nederlandse Gemeenten    0.500  9/20/2022    MXN    70.077
Oi Brasil Holdings Coopera    5.750  2/10/2022    USD     5.317
Phosphorus Holdco PLC        10.000   4/1/2019    GBP     3.224
UniCredit Bank Austria AG     0.171 12/31/2031    EUR    74.463
Alpine Holding GmbH           6.000  5/22/2017    EUR     0.196
Barclays Bank PLC             0.630  4/30/2029    USD    71.039
Portugal Telecom Internati    5.242  11/6/2017    EUR     5.458
Lloyds Bank PLC               1.540  9/26/2033    USD    61.800
Artea                         6.000   8/4/2019    EUR    14.120
ESFIL-Espirito Santo Finan    5.250  6/12/2015    EUR     0.034
Lehman Brothers Treasury C    6.000  11/2/2035    EUR     6.000
Decipher Production Ltd      12.500  9/27/2018    USD     1.873
A-TEC Industries AG           2.750  5/10/2014    EUR     0.357
Hellas Telecommunications     8.500 10/15/2013    EUR     0.424
Holdikks SAS                  6.750  7/15/2021    EUR    47.333
Bank Nederlandse Gemeenten    0.500  8/15/2022    ZAR    70.887
O1 Properties Finance PLC     7.000  1/29/2021    USD    69.923
Intelsat Luxembourg SA       12.500 11/15/2024    USD    75.000
New Look Secured Issuer PL    6.500   7/1/2022    GBP    50.300
Deutsche Bank AG/London       0.144  9/30/2029    USD    62.136
KPNQwest NV                  10.000  3/15/2012    EUR     0.090
Steilmann SE                  7.000   3/9/2017    EUR     1.588
HSBC France SA                0.635               EUR    61.550
Alpine Holding GmbH           5.250   7/1/2015    EUR     0.191
getgoods.de AG                7.750  10/2/2017    EUR     0.206
Sairgroup Finance BV          6.625  10/6/2010    EUR    11.125
Depfa Funding II LP           6.500               EUR    59.411
Windreich GmbH                6.500   3/1/2015    EUR    13.125
mybet Holding SE              6.250 12/12/2020    EUR    60.000
Alno AG                       8.000  3/21/2019    EUR     4.000
Agroton Public Ltd            6.000  7/14/2019    USD    16.000
PA Resources AB              13.500   3/3/2016    SEK     0.124
Galapagos Holding SA          7.000  6/15/2022    EUR    61.260
Norske Skogindustrier ASA     2.000 12/30/2115    EUR     1.113
Tonon Luxembourg SA          10.500  5/14/2024    USD     3.479
A-TEC Industries AG           5.750  11/2/2010    EUR     0.357
Turkey Government Internat    7.100   3/8/2023    TRY    69.659
SpareBank 1 SR-Bank ASA       1.457 12/21/2030    EUR    73.405
Republic of Italy Governme    0.082  7/31/2045    EUR    72.647
SAG Solarstrom AG             6.250 12/14/2015    EUR    33.625
getBACK SA                    6.100  5/10/2020    PLN    27.100
Afren PLC                    10.250   4/8/2019    USD     0.001
Steilmann SE                  7.000  9/23/2018    EUR     1.586
Pacific Drilling SA           5.375   6/1/2020    USD    34.938
Turkey Government Bond       10.600  2/11/2026    TRY    76.350
Lloyds Bank PLC               1.140  4/26/2027    USD    69.334
DEMIRE Deutsche Mittelstan    6.000 12/30/2018    EUR     4.151
Banco Espirito Santo SA       6.900  6/28/2024    EUR    27.191
Burovoya Kompaniya Eurasia   10.250  6/21/2019    RUB    76.180
Finance and Credit Bank JS    9.250  1/25/2019    USD     0.727
APP International Finance    11.750  10/1/2005    USD     0.189
KPNQwest NV                   8.875   2/1/2008    EUR     0.090
IT Holding Finance SA         9.875 11/15/2012    EUR     0.103
Bank Julius Baer & Co Ltd/   10.000  1/10/2019    EUR    73.100
Societe Generale SA           1.600   1/9/2020    GBP     1.120
Ahtium PLC                    9.750   4/4/2017    EUR     3.288
Virgolino de Oliveira Fina   10.875  1/13/2020    USD    26.032
Stichting Afwikkeling Onde    2.422               EUR     1.073
Region of Molise Italy        0.132 12/15/2033    EUR    57.850
Barclays Bank PLC             1.084 10/10/2029    USD    57.296
HSBC Bank PLC                 0.500  7/11/2023    BRL    60.334
BLT Finance BV               12.000  2/10/2015    USD    10.500
Barclays Bank PLC             1.248  1/31/2029    USD    56.144
Hamburgische Landesbank-Gi    0.052  1/22/2041    EUR    63.679
Svensk Exportkredit AB        0.500  4/24/2029    AUD    64.509
Landesbank Hessen-Thuering    0.061   5/3/2041    EUR    67.328
Waste Italia SpA             10.500 11/15/2019    EUR     2.204
Cooperatieve Rabobank UA      0.500  7/30/2043    MXN    11.600
IKS 5 Finance OOO             8.450   5/7/2032    RUB    81.260
MS Deutschland Beteiligung    6.875 12/18/2017    EUR     3.510
Steilmann SE                  6.750  6/27/2017    EUR     2.214
KTG Agrar SE                  7.250 10/15/2019    EUR     3.823
Norske Skog Holding AS        8.000  2/24/2021    EUR     1.173
Afren PLC                     6.625  12/9/2020    USD     0.001
Banco Santander SA            2.000               USD    65.981
Cirio Del Monte NV            7.750  3/14/2005    EUR     0.973
O1 Properties Finance PLC     6.000  5/18/2021    USD    65.017
EDOB Abwicklungs AG           7.500   4/1/2012    EUR     0.380
Barclays Bank PLC             0.025  3/21/2031    USD    62.850
Aralco Finance SA            10.125   5/7/2020    USD     4.900
Barclays Bank PLC             0.980  4/16/2029    USD    58.518
Region of Abruzzo Italy       0.111  11/7/2036    EUR    60.073
Turkey Government Bond       10.500  8/11/2027    TRY    74.700
Veneto Banca SpA              6.411               EUR     1.196
Otkritie Holding JSC         11.560  7/27/2028    RUB     7.770
Stichting Afwikkeling Onde    6.625  5/14/2018    EUR     4.354
KPNQwest NV                   8.125   6/1/2009    USD     0.090
Golden Gate AG                6.500 10/11/2014    EUR    39.100
Stichting Afwikkeling Onde    8.450  8/20/2018    USD     4.151
Deutsche Bank AG              1.725  1/16/2045    EUR    71.491
Pescanova SA                  6.750   3/5/2015    EUR     1.446
Rostelecom PJSC               8.650  4/14/2027    RUB    80.000
Norske Skog Holding AS        8.000  2/24/2023    USD     2.423
Ahtium PLC                    4.000 12/16/2015    EUR     1.500
Heta Asset Resolution AG      0.139 12/31/2023    EUR    34.625
Svensk Exportkredit AB        0.500  6/29/2029    AUD    64.002
Mriya Agro Holding PLC        9.450  4/19/2018    USD     8.074
OAS Investments GmbH          8.250 10/19/2019    USD     5.557
Svensk Exportkredit AB        0.500  8/29/2029    AUD    63.478
United Aircraft Corp PJSC     8.000  3/17/2020    RUB    61.900
Lehman Brothers Treasury C    7.000  5/17/2035    EUR     6.000
Lehman Brothers Treasury C    5.000  9/22/2014    EUR     6.000
Agrokor dd Via Aquarius +     4.921   8/8/2017    EUR    14.480
Barclays Bank PLC             0.248 10/30/2034    USD    58.207
New Look Secured Issuer PL    4.500   7/1/2022    EUR    49.500
Hamburgische Landesbank-Gi    0.052 10/30/2040    EUR    66.377
Municipality Finance PLC      0.500  6/19/2024    ZAR    58.512
New World Resources NV        8.000   4/7/2020    EUR     1.477
Stroika Finance Ltd Via Em    9.900  6/25/2019    RUB    11.600
Lehman Brothers Treasury C    5.100   5/8/2017    HKD     6.000
Wild Bunch AG                 8.000  3/23/2019    EUR    45.000
Societe Generale SA           8.000   8/9/2022    USD    58.130
SUEK Finance OOO             10.500 10/23/2019    RUB    64.310
Rosbank PJSC                  9.800 12/20/2026    RUB    81.410
Mox Telecom AG                7.250  11/2/2017    EUR     2.849
Finans-Avia OOO               9.000  7/31/2022    RUB    67.970
RENE LEZARD Mode GmbH         7.250 11/25/2017    EUR     1.191
Barclays Bank PLC             0.500  2/28/2034    USD    63.451
International Finance Faci    0.500  6/24/2024    ZAR    57.488
IDGC of Centre PJSC           6.950  3/28/2028    RUB    63.660
Agrokor dd                    9.125   2/1/2020    EUR    24.080
Gebr Sanders GmbH & Co KG     8.750 10/22/2018    EUR    20.216
Svensk Exportkredit AB        0.500  3/15/2022    ZAR    72.325
Landesbank Hessen-Thuering    0.068  4/23/2041    EUR    68.074
Solon SE                      1.375  12/6/2012    EUR     0.100
SiC Processing GmbH           7.125   3/1/2016    EUR     2.740
Petromena ASA                10.850 11/19/2018    USD     0.607
BNP Paribas SA                0.500  9/29/2029    AUD    66.129
Rio Forte Investments SA      4.000  7/22/2014    EUR     6.282
Deutsche Bank AG/London       0.500   4/5/2038    MXN    15.405
Kardan NV                     6.325  7/24/2018    ILS    40.150
Kommunalbanken AS             0.500  5/27/2022    ZAR    72.175
A-TEC Industries AG           8.750 10/27/2014    EUR     0.357
Deutsche Agrar Holding Gmb    7.250  9/28/2018    EUR     1.415
3W Power SA                   5.500 11/11/2020    EUR     1.000
ML 33 Invest AS               7.500               NOK    68.712
Kaupthing ehf                 5.750  10/4/2011    USD     0.250
Banca del Monte di Lucca-S    2.429  6/29/2020    EUR    58.963
Lloyds Bank PLC               0.459  7/26/2033    USD    59.555
Barclays Bank PLC             1.601  3/27/2029    USD    57.500
Virgolino de Oliveira Fina   10.500  1/28/2018    USD     5.288
WPE International Cooperat   10.375  9/30/2020    USD    17.500
Minicentrales Dos SA          6.450  4/14/2028    EUR    65.750
Rosselkhozbank JSC            8.500 10/11/2022    RUB    72.020
Lehman Brothers Treasury C    5.000  2/16/2015    EUR     6.000
BOA Offshore AS               0.398  7/17/2047    NOK    10.000
Agrokor dd                    9.875   5/1/2019    EUR    24.252
Cherkizovo Group PJSC        12.500  10/6/2020    RUB    81.260
Rosneft Oil Co PJSC           8.650  12/3/2020    RUB    62.010
OGX Austria GmbH              8.375   4/1/2022    USD     0.421
German Pellets GmbH           7.250   4/1/2016    EUR     1.018
Mifa Mitteldeutsche Fahrra    7.500  8/12/2018    EUR     2.260
Air Berlin Finance BV         8.500   3/6/2019    EUR     0.946
Gazprom PJSC                  3.400 10/21/2043    RUB    65.020
Kamaz PJSC                   11.240  7/18/2030    RUB    70.000
Delamare Finance PLC          1.952  2/19/2029    GBP    73.471
Bank Nederlandse Gemeenten   10.010  6/17/2025    TRY    73.791
Lehman Brothers Treasury C    1.600  6/21/2010    JPY     2.571
Afren PLC                    11.500   2/1/2016    USD     0.082
Bank Nederlandse Gemeenten    0.500   6/7/2022    ZAR    70.798
Minicentrales Dos SA          4.810 11/29/2034    EUR    65.750
IKS 5 Finance OOO            10.900   3/9/2023    RUB    66.230
SAir Group                    0.125   7/7/2005    CHF    13.150
getBACK SA                    6.100  9/14/2021    PLN     5.500
AKB Peresvet ZAO              0.510  2/14/2032    RUB    22.750
Turkey Government Internat    4.875  4/16/2043    USD    74.960
Rosneft Oil Co PJSC           7.350  1/18/2021    RUB    60.010
Espirito Santo Financial G    5.050 11/15/2025    EUR     0.598
Societe Generale SA           0.146  9/30/2034    USD    60.375
Muehl Product & Service AG    6.750  3/10/2005    DEM     0.051
Otkritie Holding JSC         12.500 12/10/2026    RUB     7.560
Delta Credit Bank JSC        11.000  5/18/2026    RUB    64.110
Home Money LLC               20.000 10/23/2018    RUB    19.000
La Veggia Finance SPA         7.125 11/14/2004    EUR     0.285
RN Bank JSC                  10.400   7/9/2021    RUB    62.120
Johnston Press Bond Plc       8.625   6/1/2019    GBP    69.979
Lehman Brothers Treasury C    8.250  12/3/2015    EUR     6.000
ECM Real Estate Investment    5.000  10/9/2011    EUR    15.375
Promsvyazbank OJSC Via PSB   10.200  11/6/2019    USD    14.442
Rena GmbH                     7.000 12/15/2015    EUR     2.000
Vnesheconombank               8.240 12/15/2022    RUB    63.200
Northland Resources AB        4.000 10/15/2020    NOK     0.138
SUEK Finance OOO             12.500  8/19/2025    RUB    66.010
Lehman Brothers Treasury C    2.400  6/20/2011    JPY     2.571
Bank Otkritie Financial Co   10.000  4/26/2019    USD    18.531
Gazprombank OJSC Via GPB E    8.750  6/29/2024    RUB    51.365
Lehman Brothers Treasury C    8.250  3/16/2035    EUR     6.000
Bank Julius Baer & Co Ltd/   12.100 12/27/2018    EUR    62.600
ADLER Real Estate AG          6.000 12/27/2018    EUR    14.001
Credit Agricole Corporate     2.400  5/17/2048    EUR    49.487
Grupo Isolux Corsan SA        3.000 12/30/2021    USD     1.822
Sberbank of Russia PJSC       0.010  5/16/2021    RUB    69.000
Veneto Banca SpA              6.944  5/15/2025    EUR     0.273
Barclays Bank PLC             0.500  4/24/2023    MXN    64.509
Lenta LLC                     8.700  5/26/2020    RUB   100.520
Neftegazholding AO            0.010  7/21/2020    RUB    65.000
O1 Properties Finance ZAO    13.000  10/2/2020    RUB    85.000
Bulgaria Steel Finance BV    12.000   5/4/2013    EUR     0.169
VEB-Leasing OAO               8.710   9/1/2025    RUB    62.000
Minaya Capital AG             7.000   8/1/2018    EUR    38.400
Lehman Brothers Treasury C   10.000  5/22/2009    USD     2.571
Russian Railways JSC          3.400  4/29/2043    RUB    62.020
Lehman Brothers Treasury C    7.000 11/26/2013    EUR     6.000
Lloyds Bank PLC               0.116  4/25/2034    USD    54.000
Russian Railways JSC          3.500  2/28/2040    RUB    62.020
Fast Finance SA              10.500  1/15/2021    PLN    65.100
Marine Subsea AS              9.000 12/16/2019    USD     0.688
Activa Resources AG           0.500 11/15/2021    EUR    20.500
Svensk Exportkredit AB        0.500  1/31/2022    ZAR    73.384
Severo-Zapadnaya Koncessio    5.180  9/26/2031    RUB    60.110
AKB Peresvet ZAO             13.500 10/16/2020    RUB    20.000
Credit Bank of Moscow Via     8.875               USD    75.400
Barclays Bank PLC             0.220 12/23/2033    USD    63.250
Espirito Santo Financial P    5.125  5/30/2016    EUR     4.181
Federal Grid Co Unified En    3.400  3/23/2050    RUB    63.200
Rosneft Oil Co PJSC           8.350 11/24/2027    RUB    63.010
HSBC Trinkaus & Burkhardt     6.500  6/22/2018    EUR    64.390
Rosneft Oil Co PJSC           9.400 11/28/2024    RUB   100.400
OGK-2 PJSC                    6.950  3/31/2023    RUB    62.020
Turkey Government Bond        9.000  7/24/2024    TRY    73.650
SUEK Finance OOO             12.500  8/19/2025    RUB    66.010
LBI HF                        6.100  8/25/2011    USD     5.000
Municipality Finance PLC      0.500  7/30/2029    AUD    73.313
Societe Generale SA          10.000  7/30/2032    USD    74.420
Rosneft Oil Co PJSC           8.350 11/24/2027    RUB    63.010
Ideal Standard Internation   11.750   5/1/2018    EUR     0.740
Orient Express Bank PJSC     11.700  7/17/2018    RUB    95.000
SG Issuer SA                  0.780  6/15/2020    SEK    48.480
Severo-Zapadnaya Koncessio    5.180  9/26/2031    RUB    65.010
Rossiysky Capital OJSC        7.750  1/20/2020    RUB    71.010
Oi Brasil Holdings Coopera    5.625  6/22/2021    EUR     6.984
Norske Skogindustrier ASA     7.125 10/15/2033    USD     4.226
Espirito Santo Financial G    5.050 11/15/2025    EUR     0.880
Vnesheconombank               9.760 12/17/2021    RUB    65.400
Tonon Luxembourg SA           9.250  1/24/2020    USD     4.882
Vimpel-Communications PJSC    1.000  10/3/2025    RUB    73.010
Deutsche Bank AG/London       0.500  10/5/2021    IDR    72.672
UmweltBank AG                 2.850               EUR    72.642
Norske Skog Holding AS        8.000  2/24/2023    USD     2.423
Cooperatieve Rabobank UA      0.500  1/31/2033    MXN    25.901
Bank Nederlandse Gemeenten    0.500   8/9/2022    MXN    70.610
Societe Generale SA           0.018 12/31/2034    USD    60.375
Otkritie Holding JSC         12.700  9/30/2027    RUB    16.160
Lehman Brothers Treasury C    5.000  2/27/2014    EUR     6.000
Heta Asset Resolution AG      0.219 12/31/2023    EUR    34.625
Veneto Banca SpA              6.950  2/25/2025    EUR     0.228
getBACK SA                    5.700  2/16/2021    PLN    36.000
New World Resources NV        4.000  10/7/2020    EUR     0.151
Mriya Agro Holding PLC       10.950  3/30/2016    USD     7.340
Oberbank Hybrid 1 GmbH        0.872               EUR    43.509
Bibby Offshore Services PL    7.500  6/15/2021    GBP    14.766
Grupo Isolux Corsan SA        0.250 12/30/2018    EUR     0.450
O1 Group Finance              9.750  5/13/2027    RUB     1.110
UkrLandFarming PLC           10.875  3/26/2018    USD    20.185
Lloyds Bank PLC               0.500  7/26/2028    MXN    37.283
Bilt Paper BV                 9.640               USD    22.348
International Bank of Azer    8.250  10/9/2024    USD    64.706
BNP Paribas SA               13.000  8/24/2027    USD    74.500
Rosneft Oil Co PJSC           7.350  1/18/2021    RUB    60.010
Atari SA                      0.100   4/1/2020    EUR     6.050
RESO-Garantia Insurance PJ   11.750  3/24/2023    RUB    75.000
Societe Generale SA           0.459 10/31/2033    USD    69.200
Lehman Brothers Treasury C    6.000  3/14/2011    EUR     6.000
Rosneft Oil Co PJSC           7.850  12/3/2020    RUB    62.010
Russian Railways JSC          3.500  2/28/2040    RUB    62.030
Royalbeach Spielwaren Und     7.375 11/10/2020    EUR     1.100
Norske Skogindustrier ASA     7.000 12/30/2026    EUR     1.000
HSBC Trinkaus & Burkhardt    10.070  6/22/2018    EUR    64.170
Plaza Centers NV              6.000   7/1/2020    ILS    65.000
Lehman Brothers Treasury C    5.000   5/2/2022    EUR     2.571
Gazprombank JSC               7.380  2/19/2021    RUB    70.010
Rosneft Oil Co PJSC          11.900 11/28/2024    RUB   100.400
Rosselkhozbank JSC            8.600 12/13/2024    RUB    64.490
Banco Santander SA            2.000               USD    64.345
Northland Resources AB       15.000  7/15/2019    USD     2.621
Virgolino de Oliveira Fina   10.875  1/13/2020    USD    26.032
Sistema PJSFC                10.900 10/31/2025    RUB    64.430
getBACK SA                    5.700  4/30/2021    PLN    28.000
Bank Julius Baer & Co Ltd/   10.500 11/30/2018    USD    62.650
Lehman Brothers Treasury C    6.000  9/20/2011    EUR     2.571
Russian Post FGUP             9.350 10/18/2019    RUB    73.010
Leonteq Securities AG        16.500 10/16/2018    CHF    47.230
Russian Regional Developme    7.800  7/30/2021    RUB   100.700
Societe Generale SA          10.000  6/30/2032    USD    67.625
Gazprom PJSC                  3.400 10/21/2043    RUB    65.020
Barclays Bank PLC             1.415  9/27/2028    USD    63.500
Solarwatt GmbH                7.000  11/1/2015    EUR    15.500
OOO SPV Structural Investm    0.010   9/1/2023    RUB    72.973
KPNQwest NV                   7.125   6/1/2009    EUR     0.090
Barclays Bank PLC             1.164 11/28/2029    USD    56.980
Lehman Brothers Treasury C    5.000   9/1/2011    EUR     2.571
Lehman Brothers Treasury C    7.600  5/21/2013    USD     2.571
Federal Grid Co Unified En    3.400   9/7/2048    RUB    63.200
ING Bank Eurasia JSC          7.150  3/30/2021    RUB    75.730
Sparebank 1 Ostfold Akersh    2.590  4/25/2028    NOK    73.762
Sberbank of Russia PJSC      12.270   1/2/2026    RUB    62.020
Salvator Grundbesitz-AG       9.500 12/31/2021    EUR     7.800
Rosneft Oil Co PJSC           7.350  1/18/2021    RUB    60.010
Lehman Brothers Treasury C    5.000  3/18/2015    EUR     6.000
Laurel GmbH                   7.125 11/16/2017    EUR     5.250
Svensk Exportkredit AB        0.500  2/22/2022    ZAR    72.688
Bank Nederlandse Gemeenten    0.500  7/12/2022    ZAR    71.317
Otkritie Holding JSC         12.620  4/25/2028    RUB     8.880
HPI AG                        3.500               EUR     1.150
Bayerische Landesbank         2.900  6/22/2018    EUR    46.330
Russian Railways JSC          3.200  9/20/2039    RUB    62.020
Investpro OOO                13.000 12/31/2018    RUB     0.700
Russian Railways JSC          8.650   2/4/2032    RUB    65.070
Lehman Brothers Treasury C    8.000  4/20/2009    EUR     2.571
Banca Popolare di Vicenza     9.500  10/2/2025    EUR     0.463
Lehman Brothers Treasury C    1.000   5/9/2012    EUR     2.571
Kaupthing ehf                 7.625  2/28/2015    USD     0.250
Rosneft Oil Co PJSC           7.350  1/18/2021    RUB    60.010
Deutsche Bank AG/London      13.750  6/20/2026    TRY    66.993
getBACK SA                    6.000  9/16/2018    PLN     5.500
Russian Railways JSC          3.200  8/18/2033    RUB    65.020
SAir Group                    5.500  7/23/2003    CHF    13.092
Astana Finance BV             7.875   6/8/2010    EUR    16.000
Atomenergoprom JSC           11.100 12/12/2025    RUB    71.010
BKS Hybrid alpha GmbH         7.350               EUR    58.157
Societe Generale SA           0.212  3/31/2034    USD    65.137
Autonomous Region of Yamal    7.000 12/25/2024    RUB    80.740
UBS AG/London                 7.000  9/26/2019    EUR    70.740
Rosneft Oil Co PJSC           8.500  7/14/2027    RUB    63.010
getBACK SA                    5.550  9/21/2018    PLN    15.000
DekaBank Deutsche Girozent    0.010  6/29/2046    EUR    55.670
Federal Grid Co Unified En    3.400  6/30/2048    RUB    63.220
Svensk Exportkredit AB        0.500  6/28/2022    ZAR    70.317
Municipality Finance PLC      0.500  4/26/2022    ZAR    71.525
Lenta LLC                    12.400  8/28/2025    RUB    81.260
Bank ZENIT PJSC               8.000  3/27/2025    RUB    80.430
Centrosolar Group AG          7.000  2/15/2016    EUR     0.805
Cooperatieve Rabobank UA      0.500 10/29/2027    MXN    44.115
Sidetur Finance BV           10.000  4/20/2016    USD     5.251
DOM RF Russia Housing and     7.600 12/13/2027    RUB   100.400
Elli Investments Ltd         12.250  6/15/2020    GBP    50.000
UniCredit Bank AO            12.000 11/20/2019    RUB    60.220
State Transport Leasing Co    9.000 11/24/2031    RUB    79.920
Credit Europe Bank Ltd       10.000  9/14/2018    RUB   103.000
German Pellets GmbH           8.000               EUR     0.010
Rosneft Oil Co PJSC           7.350  1/18/2021    RUB    60.010
Siberian Gostinecs PAO       16.500  6/26/2019    RUB    33.010
Federal Grid Co Unified En    0.100 10/16/2020    RUB    70.070
DOM RF Russia Housing and     6.750  3/24/2028    RUB    63.300
Svensk Exportkredit AB        0.500  8/28/2020    TRY    68.143
Avangard-Agro OOO             9.250 11/16/2027    RUB    67.050
Grupo Isolux Corsan SA        0.250 12/30/2021    USD     0.191
Phosphorus Holdco PLC        10.000   4/1/2019    GBP     3.224
Rio Forte Investments SA      4.750 11/10/2015    EUR     6.250
International Finance Faci    0.500  6/29/2027    ZAR    40.679
UBS AG/London                 8.500   1/6/2020    EUR    68.750
Araratbank OJSC               7.250  6/27/2018    USD    25.443
Lehman Brothers Treasury C    4.600 10/11/2017    ILS     6.000
AKB Peresvet ZAO             13.250  4/25/2018    RUB    22.750
Cerruti Finance SA            6.500  7/26/2004    EUR     1.130
Virgolino de Oliveira Fina   11.750   2/9/2022    USD     5.097
Rusfinans Bank OOO            9.900  7/18/2018    RUB    70.000
RusHydro PJSC                 0.100   2/2/2023    RUB    60.810
Baltic Leasing OOO            9.800  6/19/2020    RUB    62.370
LBI HF                        7.431               USD     0.001
Rosneft Oil Co PJSC           7.350  1/18/2021    RUB    60.010
Plaza Centers NV              6.900   7/1/2020    ILS    70.500
VTB Bank PJSC                 9.000  9/18/2046    RUB    62.010
getBACK SA                    5.780  3/17/2019    PLN    20.000
Federal Grid Co Unified En    3.400 10/30/2048    RUB    63.220
Lehman Brothers Treasury C   11.000 12/19/2011    USD     2.571
Lehman Brothers Treasury C    5.500  4/23/2014    EUR     2.571
Volga Capital PAO            12.000  6/27/2022    RUB    61.020
Leonteq Securities AG/Guer   10.650   9/6/2018    EUR    74.570
VEB-Leasing OAO               8.710  2/18/2025    RUB    97.010
Russian Railways JSC          3.400   6/8/2028    RUB    90.010
Otkritie Holding JSC         11.500  5/26/2032    RUB    30.580
Societe Generale SA           0.909  6/30/2035    USD    60.375
HSBC Bank PLC                 0.500 12/29/2026    AUD    71.954
Lehman Brothers Treasury C    6.000  2/14/2012    EUR     2.571
UBS AG/London                11.250   7/1/2019    EUR    69.050
Rosneft Oil Co PJSC           7.350  1/18/2021    RUB    60.010
getBACK SA                    5.770 11/27/2019    PLN    12.500
Kardan NV                     6.775   2/2/2020    ILS    55.890
Russian Railways JSC          3.500 10/15/2040    RUB    62.050
Otkritie Holding JSC         11.500  7/22/2030    RUB    12.125
Russian Railways JSC          9.700  5/22/2046    RUB    62.030
KB MIA AO                     8.250   3/7/2025    RUB   100.330
Lehman Brothers Treasury C   10.000  6/11/2038    JPY     2.571
Bank Nederlandse Gemeenten    0.500  9/20/2022    ZAR    70.224
Cooperatieve Rabobank UA      0.500 12/29/2027    MXN    42.016
Avangard-Agro OOO             9.500  9/23/2027    RUB    63.160
Credit Agricole Corporate     0.500   3/6/2023    RUB    72.278
Landesbank Baden-Wuerttemb    5.400 10/26/2018    EUR    55.840
Societe Generale SA           1.424  3/17/2032    USD    63.600
Federal Grid Co Unified En    3.400  3/23/2050    RUB    63.200
UniCredit Bank AG             4.300 10/17/2018    EUR    35.710
Russian Railways JSC          3.400 11/29/2028    RUB    65.020
Krakowski Bank Spoldzielcz    5.080  9/20/2023    PLN    57.010
Metalloinvest Holding Co O   11.900  2/12/2026    RUB    72.010
Heta Asset Resolution AG      0.432 12/31/2023    EUR    34.625
HSBC Bank PLC                 0.500 12/22/2025    BRL    44.663
Zurcher Kantonalbank Finan    8.212  8/23/2018    EUR    55.360
DekaBank Deutsche Girozent    6.230   8/1/2018    EUR    68.330
SPORTTOTAL AG                 6.000  3/17/2019    EUR     4.000
Rosneft Oil Co PJSC           9.400 11/28/2024    RUB   100.400
Cooperatieve Rabobank UA      0.500  8/21/2028    MXN    39.500
Freight One JSC              12.000 10/15/2025    RUB   106.850
Municipality Finance PLC      0.500   5/8/2029    AUD    68.975
Commerzbank AG                7.000  6/22/2018    EUR    58.660
Russian Railways JSC          6.400  5/30/2040    RUB    62.030
Sberbank of Russia PJSC       0.010  6/27/2021    RUB    62.470
Lehman Brothers Treasury C    4.000  7/20/2012    EUR     2.571
Metalloinvest Holding Co O    0.010   3/7/2022    RUB    65.000
Barclays Bank PLC             0.644 12/27/2028    USD    64.530
Bank Intesa AO                9.750 10/10/2019    RUB    67.010
Vimpel-Communications PJSC    1.000  10/3/2025    RUB    62.010
Lehman Brothers Treasury C    5.250   4/1/2023    EUR     2.571
Lehman Brothers Treasury C   11.000  6/29/2009    EUR     2.571
Kaupthing ehf                 5.000   1/4/2027    SKK     0.250
Turkey Government Bond        8.500  9/14/2022    TRY    75.200
Banco Espirito Santo SA      10.000  12/6/2021    EUR     0.213
Lehman Brothers Treasury C    2.875  3/14/2013    CHF     6.000
Lehman Brothers Treasury C   14.900  9/15/2008    EUR     2.571
Miratorg-Finans OOO          11.000  8/24/2021    RUB   100.000
Vnesheconombank              11.600  2/17/2025    RUB   100.000
Natwest Markets PLC           6.200   9/7/2018    GBP     1.010
Federal Grid Co Unified En    0.100 10/16/2020    RUB    63.030
Otkritie Holding JSC         12.140  10/3/2036    RUB    12.125
Otkritie Holding JSC         11.500   8/5/2025    RUB     8.600
Barclays Bank PLC             0.980  7/22/2024    USD    75.000
Cooperatieve Rabobank UA      0.500 11/30/2027    MXN    42.663
Rio Forte Investments SA      3.900  7/10/2014    USD     6.250
Lehman Brothers Treasury C    5.220   3/1/2024    EUR     2.571
4FINANS MFK OOO              15.000  3/24/2023    RUB    62.310
PSN Pm OOO                   12.000  8/31/2027    RUB     1.800
United Engine Corp JSC        8.800  4/17/2023    RUB    75.010
GPB Aerofinans OOO            9.670  3/15/2030    RUB    80.110
Lehman Brothers Treasury C    6.300 12/21/2018    USD     2.571
Societe Generale SA           0.500  5/30/2023    MXN    65.006
Lehman Brothers Treasury C    8.250   2/3/2016    EUR     2.571
Reso-Leasing OOO              9.250  9/21/2023    RUB    63.010
Heta Asset Resolution AG      4.350 12/31/2023    EUR    34.625
Astana Finance BV             9.000 11/16/2011    USD    16.000
Svensk Exportkredit AB        0.500  3/28/2029    AUD    73.207
Lehman Brothers Treasury C    5.550  3/12/2015    EUR     2.571
Raiffeisen Switzerland BV    10.000  2/11/2019    CHF    69.340
Leonteq Securities AG/Guer   11.000 12/12/2018    CHF    62.920
Deutsche Bank AG              5.200 12/27/2018    EUR    70.000
Leonteq Securities AG/Guer   10.000   9/5/2018    EUR    74.750
VTB Bank PJSC                 9.000  12/6/2044    RUB    62.010
Federal Grid Co Unified En    3.400  4/27/2048    RUB    65.000
Podkarpacki Bank Spoldziel    5.780 10/24/2024    PLN    50.000
Federal Grid Co Unified En    3.400  6/30/2048    RUB    63.220
Leonteq Securities AG         3.000  9/19/2019    CHF    61.720
KPNQwest NV                   8.875   2/1/2008    EUR     0.090
RusHydro PJSC                 9.500  4/12/2021    RUB    65.210
Reso-Leasing OOO              8.900  10/3/2025    RUB    65.010
Escher Marwick PLC            3.500 10/14/2031    USD    57.882
Northland Resources AB       12.250  3/26/2016    USD     2.621
Delta Credit Bank JSC         5.000 10/30/2025    RUB    71.000
Russian Railways JSC         11.200 10/16/2025    RUB    67.010
Natwest Markets PLC           0.296  8/18/2031    USD    60.246
Privatbank CJSC Via UK SPV   10.875  2/28/2018    USD    24.848
Kaupthing ehf                 9.000               USD     0.122
Svensk Exportkredit AB        0.500  6/20/2029    AUD    72.785
Lehman Brothers Treasury C    1.280  11/6/2010    JPY     6.000
Bayerische Landesbank         5.000  8/17/2018    EUR    71.970
getBACK SA                    5.900 12/30/2020    PLN    35.000
Credit Suisse AG/Nassau      10.000 10/29/2018    CHF    62.680
Russian Railways JSC          3.400  5/20/2044    RUB    90.010
Podkarpacki Bank Spoldziel    5.780  3/31/2025    PLN    40.000
SAir Group                    5.125   3/1/2003    CHF    13.000
Main Road JSC                 4.000 10/30/2029    RUB    60.860
Volga Sport ZAO               6.400  2/29/2024    RUB    65.000
Lehman Brothers Treasury C    7.600  1/31/2013    AUD     2.571
UniCredit Bank AO             9.000   8/6/2019    RUB    91.010
IT Holding Finance SA         9.875 11/15/2012    EUR     0.103
Western High-Speed Diamete   10.440  5/13/2031    RUB   101.000
Lehman Brothers Treasury C    0.500   8/1/2020    EUR     2.571
EDOB Abwicklungs AG           7.500   4/1/2012    EUR     0.380
Finconsult OOO                8.000   2/1/2028    RUB    63.000
Anglian Water Services Fin    0.929  1/26/2057    GBP    74.948
Lehman Brothers Treasury C    6.000  3/18/2015    USD     6.000
Transneft PJSC                8.750  4/14/2027    RUB    60.320
Credit Suisse AG/London       9.000  3/19/2021    USD     9.650
Societe Generale SA           8.000  5/28/2027    USD    49.600
Driver & Bengsch AG           8.500 12/31/2027    EUR     0.001
Finans-Avia OOO               0.010  7/31/2027    RUB    16.020
VTB Bank PJSC                 3.000  12/6/2044    RUB    62.010
Federal Grid Co Unified En    3.400  4/27/2048    RUB    63.250
Podkarpacki Bank Spoldziel    5.080  5/28/2023    PLN    45.100
VEB-Leasing OAO               8.650  1/16/2024    RUB    65.010
Russian Railways JSC          2.400 10/11/2038    RUB    62.020
Societe Generale SA           0.284 11/26/2034    USD    60.375
Windreich GmbH                6.750   3/1/2015    EUR    13.125
Region Invest OOO             9.530  1/12/2021    RUB     0.280
Reso-Leasing OOO             12.600  10/2/2026    RUB    85.000
Petromena ASA                 9.750  5/24/2016    NOK     0.607
Rusfinans Bank OOO            9.950  8/22/2019    RUB    63.990
Turkey Government Bond        8.000  3/12/2025    TRY    65.700
Norske Skogindustrier ASA     2.000 12/30/2115    EUR     1.113
HSBC Bank PLC                 0.500 11/25/2025    BRL    45.047
LBI HF                        5.080   3/1/2013    ISK     8.375
AKB Metallinvestbank PAO      8.500  5/21/2020    RUB    80.430
Lehman Brothers Treasury C    8.000  3/19/2012    USD     2.571
getBACK SA                    6.000  10/2/2018    PLN    50.000
Vontobel Financial Product   10.000  7/10/2018    EUR    63.420
National Developing Co PAO   12.000  7/19/2018    RUB     1.500
Federal Grid Co Unified En    3.400 10/30/2048    RUB    63.220
getBACK SA                    5.840  2/28/2019    PLN    15.000
Salvator Grundbesitz-AG       9.500               EUR    18.500
Russian Railways JSC          3.200  9/19/2033    RUB    62.020
Bayerische Landesbank         2.400  7/20/2018    EUR    47.300
Lehman Brothers Treasury C    3.500 12/20/2027    USD     2.571
Heta Asset Resolution AG      5.920 12/31/2023    EUR    34.625
Communaute Francaise de Be    0.500  6/27/2046    EUR    67.346
IDGC of Centre PJSC          11.580 11/11/2025    RUB    70.020
Rusfinans Bank OOO            8.050  6/30/2020    RUB    61.930
LBI HF                        2.250  2/14/2011    CHF     8.375
Societe Generale SA           1.139  1/31/2034    USD    60.375
Region Invest OOO            10.360  7/19/2022    RUB     0.170
Barclays Bank PLC             1.044  5/14/2029    USD    57.500
Bashneft PJSC                12.000   5/9/2025    RUB    62.040
Lehman Brothers Treasury C    8.000 10/17/2014    EUR     2.571
Zurcher Kantonalbank Finan    8.400  9/28/2018    CHF    63.150
Credit Suisse AG/London       9.100  6/23/2020    USD     9.996
UBS AG/London                 5.500  9/13/2018    CHF    55.100
Two Capitals Highway OOO     13.250  6/19/2030    RUB    64.630
SG Issuer SA                  6.800   1/6/2020    USD    70.510
getBACK SA                    5.750  9/18/2019    PLN    15.000
Russian Railways JSC          3.400  5/29/2035    RUB    62.020
Norddeutsche Landesbank Gi    3.000 10/30/2018    EUR    35.570
City of Predeal Romania       3.500  5/15/2026    RON    60.000
Bayerische Landesbank         3.000 12/21/2018    EUR    72.840
Leonteq Securities AG         8.200 10/17/2018    USD    48.150
Gold-Zack AG                  7.000 12/14/2005    EUR    12.700
Nutritek International Cor    8.750 12/11/2008    USD     2.000
SAir Group                    4.250   2/2/2007    CHF    13.125
Lehman Brothers Treasury C   11.000 12/20/2017    AUD     2.571
PIK Group PJSC                7.750  3/24/2028    RUB    62.010
Lehman Brothers Treasury C   10.000 10/23/2008    USD     2.571
BELLAGIO Holding GmbH         1.914               EUR    50.320
Lehman Brothers Treasury C    6.650  8/24/2011    AUD     6.000
SAir Group                    2.125  11/4/2004    CHF    13.125
Hellas Telecommunications     8.500 10/15/2013    EUR     1.048
Lehman Brothers Treasury C    4.000  2/28/2010    EUR     2.571
Malahit AO                   15.000  7/14/2025    RUB     0.010
Avangard Bank PJSC            7.250  2/20/2026    RUB    62.030
Credit Suisse AG              0.500 12/16/2025    BRL    47.277
Whale Finance LLC             8.750  3/13/2019    RUB    54.010
Lehman Brothers Treasury C   15.000  3/30/2011    EUR     2.571
TransFin-M PAO               10.500  9/17/2019    RUB    63.000
Lehman Brothers Treasury C    0.500   7/2/2020    EUR     2.571
Credit Suisse AG/London       9.000 10/30/2020    USD     9.842
Credit Suisse AG/Nassau       9.500  8/17/2018    CHF    55.100
Leonteq Securities AG        16.000   4/9/2019    CHF    57.850
IDGC of the South PJSC        9.240   7/1/2022    RUB    65.010
Finca Uco Cjsc                7.500  2/22/2019    USD    25.844
VTB Bank PJSC                 9.000  9/15/2044    RUB    62.010
UniCredit Bank AG             5.400 11/29/2019    USD    48.270
Leonteq Securities AG         7.000 10/23/2018    CHF    66.450
Podkarpacki Bank Spoldziel    4.980  10/6/2021    PLN    50.000
VTB Bank PJSC                 3.000 11/26/2043    RUB    65.000
UniCredit Bank AG            15.000  6/22/2018    EUR    69.140
Credit Suisse AG/London       8.000 11/29/2019    USD     7.550
Stroytemp CJSC                9.000 11/13/2019    RUB     1.000
Promnefteservis OOO          10.500 11/21/2019    RUB     1.550
Landesbank Baden-Wuerttemb    3.850  6/22/2018    EUR    72.780
Region Kapital OOO            9.250  7/10/2018    RUB    65.000
Lehman Brothers Treasury C    6.000 10/30/2012    EUR     2.571
Russian Railways JSC         10.300   4/3/2026    RUB    65.020
AKB Peresvet ZAO              0.510  6/23/2021    RUB    20.010
RGS Nedvizhimost OOO         12.500  1/19/2021    RUB     0.335
Transports publics fribour    0.471  7/29/2051    CHF    73.063
Rossiysky Capital OJSC       13.000 11/22/2019    RUB    61.310
MIK OAO                      15.000  2/19/2020    RUB     1.250
Turkey Government Bond       11.000  2/24/2027    TRY    76.650
RGS Nedvizhimost OOO         12.500  7/22/2021    RUB     0.335
Upravlenie Otkhodami ZAO     10.500  10/9/2030    RUB   100.000
Lehman Brothers Treasury C    2.500 12/15/2011    GBP     2.571
Archer Finance OOO            9.250  3/29/2022    RUB    60.100
Heta Asset Resolution AG      5.270 12/31/2023    EUR    34.625
Commerzbank AG                4.500 12/29/2022    USD #N/A N/A
Baltic Leasing OOO            9.800  6/19/2020    RUB    62.150
Province of Brescia Italy     0.032  6/30/2036    EUR    61.820
Kommunalbanken AS             4.800  12/1/2022    TRY    60.869
LBI HF                        7.431               USD     0.001
Hypo Vorarlberg Bank AG       5.870               EUR    40.688
Societe Generale SA          15.720  1/27/2020    USD    54.419
Credit Suisse AG/Nassau      11.050  2/11/2019    CHF    68.700
UBS AG/London                 8.250   7/4/2019    EUR    69.950
Commerzbank AG               10.250  8/24/2018    EUR    72.630
UBS AG/London                 8.000  7/26/2018    CHF    59.150
Vontobel Financial Product    9.500  9/28/2018    EUR    54.890
getBACK SA                    6.200  9/16/2019    PLN    70.000
Beluga Group PJSC            12.900  4/29/2020    RUB    67.260
Rosselkhozbank JSC            8.850  7/15/2025    RUB    62.540
Credit Suisse AG/London       7.550  11/9/2018    USD    69.100
Rosselkhozbank JSC           12.870 12/22/2021    RUB    68.120
VTB Bank PJSC                 3.000   9/1/2044    RUB    65.000
VTB Bank PJSC                 3.000  9/18/2046    RUB    65.000
Raiffeisen Centrobank AG      5.656  3/19/2019    EUR    66.590
Municipality Finance PLC      0.500  5/31/2022    ZAR    70.790
Lehman Brothers Treasury C    6.250 11/30/2012    EUR     2.571
Heta Asset Resolution AG      5.730 12/31/2023    EUR    34.625
AKB Peresvet ZAO             12.750  7/24/2018    RUB    21.010
VEB-Leasing OAO               7.270   4/2/2021    RUB    97.550
Lehman Brothers Treasury C   11.000 12/20/2017    AUD     2.571
RusHydro PJSC                 0.100   2/2/2023    RUB    70.000
Bulgaria Steel Finance BV    12.000   5/4/2013    EUR     0.169
Lehman Brothers Treasury C    7.250  6/20/2010    USD     2.571
Lehman Brothers Treasury C    3.025  1/31/2015    EUR     2.571
Kreditanstalt fuer Wiedera    0.250  10/6/2036    CAD    42.663
Kommunalbanken AS             5.000   9/8/2022    TRY    66.063
Baltic Leasing OOO           12.950  2/12/2021    RUB    65.730
Societe Generale SA           1.664  8/29/2034    USD    60.375
Rosbank PJSC                  7.850  12/2/2022    RUB    61.700
Center-Invest Commercial B   10.500  7/20/2018    RUB    63.000
Societe Generale SA           0.500   4/4/2024    MXN    60.107
Kaupthing ehf                 6.125  10/4/2016    USD     0.250
AKB Peresvet ZAO              0.510   8/4/2034    RUB    22.110
Lehman Brothers Treasury C    5.000  5/12/2011    CHF     2.571
Municipality Finance PLC      4.300 10/31/2022    TRY    73.282
Center-Invest Commercial B    8.400  8/17/2018    RUB    61.010
Vnesheconombank               8.350 11/24/2020    RUB    66.220
Lehman Brothers Treasury C    8.000  2/16/2016    EUR     2.571
getBACK SA                    6.000 12/14/2018    PLN    15.000
getBACK SA                    5.970 12/19/2018    PLN    15.000
EFG International Finance    10.400 11/15/2018    EUR    69.130
Leonteq Securities AG/Guer   15.200 11/28/2018    USD    72.180
Leonteq Securities AG        10.000  7/27/2018    EUR    64.320
Federal Grid Co Unified En    9.350 10/17/2051    RUB    65.000
UBS AG/London                 8.000  7/19/2018    EUR    72.400
Rosneft Oil Co PJSC           7.350  1/18/2021    RUB    60.010
EFG International Finance     6.210  7/22/2019    EUR    48.740
getBACK SA                    5.600  6/24/2019    PLN    10.000
Credit Suisse AG              7.000 11/30/2018    USD    10.010
EFG International Finance     9.600 10/15/2019    EUR    15.850
Kontsessii Vodosnabzheniya   10.250  3/17/2031    RUB    65.000
Bayerische Landesbank         2.700   7/6/2018    EUR    42.150
Podkarpacki Bank Spoldziel    5.810   7/2/2020    PLN    50.000
Agrokompleks OOO              0.100  7/29/2019    RUB     2.550
Lehman Brothers Treasury C    6.000   3/4/2015    USD     2.571
Lehman Brothers Treasury C    7.000  2/15/2010    CHF     2.571
Lehman Brothers Treasury C   13.000  2/16/2009    CHF     2.571
PSN Pm OOO                   13.000  9/10/2026    RUB    24.000
Lehman Brothers Holdings P    3.030  3/24/2009    JPY     2.756
Barclays Bank PLC             0.500  3/13/2023    RUB    72.026
HSBC Bank PLC                 0.500   6/9/2023    MXN    64.861
Lehman Brothers Treasury C    4.050  9/16/2008    EUR     2.571
Northland Resources AB       15.000  7/15/2019    USD     2.621
Region Invest OOO             7.350   5/4/2021    RUB     0.180
Barclays Bank PLC             0.500  1/28/2033    MXN    25.572
TransFin-M PAO               10.500  4/11/2019    RUB    65.000
Lehman Brothers Treasury C   10.442 11/22/2008    CHF     2.571
Otkritie Holding JSC         10.000  4/20/2028    RUB     7.300
SAir Group                    2.750  7/30/2004    CHF    13.125
Credit Suisse AG/Nassau       8.000  8/24/2018    CHF    63.850
HSBC Trinkaus & Burkhardt    12.000  6/22/2018    EUR    64.810
UBS AG/London                 5.500  11/1/2018    USD    60.500
Deutsche Bank AG/London       7.000 10/15/2018    USD     9.270
UBS AG/London                 6.250  11/5/2018    CHF    70.900
Landesbank Baden-Wuerttemb    6.500  8/24/2018    EUR    67.770
Credit Suisse AG/London      10.500   4/9/2021    USD    10.320
HSBC Trinkaus & Burkhardt     7.000  6/22/2018    EUR    72.560
EFG International Finance    12.200   8/2/2018    EUR    62.720
Araratbank OJSC               6.500 10/29/2019    USD    25.721
Samolet Group                12.000  5/17/2022    RUB    62.950
Commerzbank AG               30.000  6/30/2020    USD     0.580
Leonteq Securities AG         8.400   9/6/2018    USD    43.060
getBACK SA                    5.710 10/22/2019    PLN    15.000
Bank Julius Baer & Co Ltd/    8.350  9/24/2018    USD    55.050
National Developing Co PAO   16.000  4/15/2021    RUB     1.000
Penell GmbH Elektrogrossha    7.750  6/10/2019    EUR     3.550
TGC-1 PJSC                    4.000  2/14/2022    RUB   100.000
UniCredit Bank AG             4.000  6/26/2018    EUR    32.420
UniCredit Bank AG             4.400  9/19/2018    EUR    35.850
Agrokompleks OOO              0.100  12/8/2022    RUB     2.950
Praim Finans OOO              9.340  7/13/2021    RUB     5.000
Volga Sport ZAO               5.150   4/4/2022    RUB    60.220
Noyabrskaya Pge OOO           8.500 11/10/2020    RUB    60.000
Deutsche Bank AG              4.200 12/24/2018    EUR    73.180
Societe Generale SA           0.795 12/28/2029    USD    69.100
EFG International Finance     5.300  6/24/2019    EUR    49.330
RGS Nedvizhimost OOO         12.000 10/18/2017    RUB     0.335
KPNQwest NV                   8.875   2/1/2008    EUR     0.090
Lehman Brothers Treasury C    6.000 10/30/2012    USD     2.571
Bashneft PJSC                12.000  5/19/2025    RUB    62.050
Lehman Brothers Treasury C   13.500 11/28/2008    USD     2.571
Region Invest OOO            10.500  9/12/2019    RUB     0.240
National Capital JSC          9.250  4/22/2019    RUB   100.000
Pioneer Group CJSC            0.010   6/3/2021    RUB    70.010
Metalloinvest Holding Co O    0.010  3/10/2022    RUB    53.510
Metalloinvest Holding Co O    0.010   3/7/2022    RUB    63.000
Upravlenie Otkhodami ZAO      4.000  4/29/2027    RUB    68.250
KPNQwest NV                   7.125   6/1/2009    EUR     0.090
Municipality Finance PLC      0.250  6/28/2040    CAD    33.255
National Capital JSC          9.500  7/25/2018    RUB   100.000
Banca Adriatica Spa           7.200  6/30/2018    EUR     1.237
KIT Finance Capital OOO      12.000 12/21/2020    RUB    99.800
HSBC Bank PLC                 0.500  6/23/2027    MXN    43.929
RESO-Garantia Insurance PJ    0.020  9/13/2022    RUB    65.010
Oberbank AG                   7.400               EUR    68.738
SAir Group                    6.250  4/12/2005    CHF    13.125
Lehman Brothers Treasury C    3.860  9/21/2011    SGD     6.000
Bashneft PJSC                10.900  4/29/2026    RUB    93.010
RGS Nedvizhimost OOO         12.500  2/25/2021    RUB     0.335
Credito Padano Banca di Cr    3.100               EUR    36.477
Investpro OOO                12.750   9/6/2018    RUB     1.100
Horus Finance ZAO            13.000   3/6/2019    RUB    65.000
BNP Paribas SA                0.500 11/16/2032    MXN    25.287
Credit Suisse AG/London       0.500   1/8/2026    BRL    46.093
Heta Asset Resolution AG      7.500 12/31/2023    ATS    34.625
Bashneft PJSC                10.500  5/12/2026    RUB    62.020
Bashneft PJSC                12.100   6/3/2025    RUB    98.000
Heta Asset Resolution AG      4.875 12/31/2023    EUR    34.625
Espirito Santo Financial P    5.625  7/28/2017    EUR     3.947
Kaupthing ehf                 9.750  9/10/2015    USD     0.250
Lehman Brothers Treasury C   10.000   1/3/2012    BRL     2.571
ECM Real Estate Investment    5.000  10/9/2011    EUR    15.375
Bashneft PJSC                10.700  5/13/2024    RUB    98.010
Region Invest OOO             7.350  4/15/2021    RUB     0.400
Lehman Brothers Treasury C   23.300  9/16/2008    USD     2.571
Lehman Brothers Treasury C   11.000   7/4/2011    CHF     2.571
Region Invest OOO             7.350  4/19/2021    RUB     0.140
SG Issuer SA                  0.100  6/11/2029    NZD    61.918
Digital Invest OOO            7.350   4/8/2021    RUB     0.140
Region Invest OOO             7.350  4/20/2021    RUB     0.400
Lehman Brothers Treasury C    8.000  5/22/2009    USD     2.571
RGS Nedvizhimost OOO         12.000  6/21/2021    RUB     0.335
TransFin-M PAO               10.500 11/11/2024    RUB    63.000
EFG International Finance    11.800 10/18/2018    EUR    71.290
HSBC Trinkaus & Burkhardt     9.900  6/22/2018    EUR    74.960
getBACK SA                    5.730  9/22/2018    PLN    20.000
Kontsessii Vodosnabzheniya   11.250 11/30/2030    RUB    65.000
VTB Bank PJSC                 3.000  8/14/2043    RUB    65.000
EFG International Finance    11.000  7/19/2018    EUR    62.820
VTB Bank PJSC                 3.000  9/15/2044    RUB    65.000
Bayerische Landesbank         2.600 11/16/2018    EUR    53.200
Bayerische Landesbank         3.000  10/5/2018    EUR    50.480
Kontsessii Vodosnabzheniya   10.250   6/7/2031    RUB    63.000
Expobank LLC                 12.500  7/12/2019    RUB    80.000
EFG International Finance     7.190   5/6/2019    EUR     5.990
Bayerische Landesbank         3.200  7/27/2018    EUR    43.310
Kontsessii Vodosnabzheniya   11.000  8/10/2031    RUB    62.180
HSBC Bank PLC                 0.500  4/27/2027    NZD    73.502
HSBC Bank PLC                 0.500  4/11/2023    MXN    65.800
Lehman Brothers Treasury C    3.000  9/12/2036    JPY     6.000
Otkritie Holding JSC         11.500  7/23/2029    RUB    12.125
Otkritie Holding JSC         11.500  7/23/2029    RUB    12.125
Lehman Brothers Treasury C    0.500 12/20/2017    AUD     2.571
Lehman Brothers Treasury C    3.600  3/19/2018    JPY     2.571
Windreich GmbH                6.250   3/1/2015    EUR    13.125
Lehman Brothers Treasury C    8.600  7/31/2013    GBP     2.571
Lehman Brothers Treasury C    4.500 12/30/2010    USD     2.571
HSBC Bank PLC                 0.500  2/24/2027    NZD    74.057
Lehman Brothers Treasury C    9.000  5/15/2022    USD     2.571
Otkritie Holding JSC         11.500  7/20/2028    RUB     9.500
AKB Peresvet ZAO             13.000  10/7/2017    RUB    22.750
Lehman Brothers Treasury C    8.000 10/23/2008    USD     2.571
AKB Peresvet ZAO              3.589   9/2/2020    RUB    18.030
Kaupthing ehf                 7.000  7/24/2009    ISK     0.250
UniCredit Bank AG            12.400   1/3/2020    EUR    73.220
Vontobel Financial Product   13.000  6/28/2019    EUR    69.240
BNP Paribas Emissions- und   13.000  3/21/2019    EUR    68.570
UniCredit Bank AG            14.500  6/28/2019    EUR    69.360
UniCredit Bank AG            10.400   1/3/2020    EUR    72.180
Raiffeisen Schweiz Genosse   10.500 10/16/2018    CHF    61.970
Zurcher Kantonalbank Finan    5.000  8/12/2019    CHF    54.180
HSBC Trinkaus & Burkhardt     2.500  6/22/2018    EUR    59.240
Vontobel Financial Product    8.000   1/2/2019    EUR    73.930
DZ Bank AG Deutsche Zentra    6.000  6/22/2018    EUR    71.420
Vontobel Financial Product    8.250  7/27/2018    EUR    60.930
Goldman Sachs & Co Wertpap   16.000  6/26/2019    EUR    70.510
UBS AG/London                 8.000  4/29/2021    USD     9.780
getBACK SA                    5.800  10/1/2019    PLN    15.000
getBACK SA                    5.900  1/29/2019    PLN    12.500
Leonteq Securities AG/Guer    6.400   6/4/2020    CHF    60.790
Podkarpacki Bank Spoldziel    5.810  2/23/2025    PLN    50.000
Rosselkhozbank JSC            8.850  7/11/2025    RUB    62.030
BNP Paribas Emissions- und    3.000 10/12/2018    EUR    44.430
Rosselkhozbank JSC            8.850  7/14/2025    RUB    62.020
Landesbank Baden-Wuerttemb    3.050  6/22/2018    EUR    46.220
Landesbank Baden-Wuerttemb    8.000  9/28/2018    EUR    70.550
DZ Bank AG Deutsche Zentra    5.500  9/28/2018    EUR    73.060
DZ Bank AG Deutsche Zentra    9.250  6/22/2018    EUR    74.630
Otkritie Holding JSC          8.750  12/8/2027    RUB    16.010
getBACK SA                    5.700  2/28/2019    PLN    20.000
UniCredit Bank AG             4.400  7/13/2018    EUR    36.880
Leonteq Securities AG/Guer   13.000  3/15/2019    EUR    69.130
Landesbank Baden-Wuerttemb    7.000  6/28/2019    EUR    67.240
Region Kapital OOO            9.250  7/10/2018    RUB   100.000
Heta Asset Resolution AG      5.030 12/31/2023    EUR    34.625
Lehman Brothers Treasury C    2.000  6/21/2011    EUR     2.571
Eiendomskreditt AS            5.370               NOK    67.239
Digital Invest OOO            9.080   3/8/2021    RUB     0.140
Lehman Brothers Treasury C    4.050  9/16/2008    EUR     2.571
Lehman Brothers Treasury C   13.500   6/2/2009    USD     2.571
DZ Bank AG Deutsche Zentra    6.400  6/22/2018    EUR    67.970
HSBC Trinkaus & Burkhardt     4.000  7/27/2018    EUR    73.360
Landesbank Baden-Wuerttemb    5.000  1/24/2020    EUR    73.110
HSBC Trinkaus & Burkhardt     5.500  6/22/2018    EUR    53.160
Commerzbank AG               13.750  7/27/2018    EUR    71.500
Commerzbank AG               11.000  8/24/2018    EUR    73.800
DZ Bank AG Deutsche Zentra    5.000  9/24/2018    EUR    66.660
Vontobel Financial Product    6.500   1/2/2019    EUR    70.530
Vontobel Financial Product   10.500  6/22/2018    EUR    69.180
HSBC Trinkaus & Burkhardt     2.600  6/22/2018    EUR    73.970
Raiffeisen Schweiz Genosse    6.000  11/5/2018    CHF    55.990
Deutsche Bank AG              4.200 12/27/2018    EUR    60.700
Deutsche Bank AG              4.200  9/25/2018    EUR    56.900
Deutsche Bank AG              4.200 12/27/2018    EUR    57.900
Leonteq Securities AG/Guer   11.000   4/8/2019    EUR    68.540
Landesbank Baden-Wuerttemb    3.500  6/22/2018    EUR    74.050
Landesbank Baden-Wuerttemb    2.500  6/22/2018    EUR    71.200
Landesbank Baden-Wuerttemb    4.000  6/22/2018    EUR    67.270
Landesbank Baden-Wuerttemb    4.000  6/22/2018    EUR    68.690
Landesbank Baden-Wuerttemb    5.500  6/22/2018    EUR    64.140
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    68.240
DZ Bank AG Deutsche Zentra   10.500  6/22/2018    EUR    55.120
Commerzbank AG               17.500   1/2/2019    EUR    61.830
Commerzbank AG                6.250 11/23/2018    EUR    68.490
UBS AG/London                 9.400  3/28/2019    EUR    62.960
UBS AG/London                10.400  9/27/2018    EUR    62.090
UBS AG/London                10.600   1/3/2019    EUR    71.600
UBS AG/London                 8.700   1/3/2019    EUR    73.060
Deutsche Bank AG              2.700  9/25/2018    EUR    74.000
UBS AG/London                13.200   1/3/2019    EUR    59.870
UBS AG/London                 7.600  9/27/2018    EUR    65.260
UBS AG/London                 5.900  3/28/2019    EUR    67.630
UBS AG/London                 7.000  6/27/2019    EUR    69.280
UBS AG/London                12.200   1/3/2019    EUR    67.920
Vontobel Financial Product   11.000  6/22/2018    EUR    57.910
Commerzbank AG                9.500 11/23/2018    EUR    64.840
Vontobel Financial Product    6.000  9/28/2018    EUR    67.050
Vontobel Financial Product    7.500  9/28/2018    EUR    64.020
Vontobel Financial Product    8.550  9/28/2018    EUR    71.570
UniCredit Bank AG            13.900  6/22/2018    EUR    55.000
UniCredit Bank AG            11.500  6/22/2018    EUR    72.520
UniCredit Bank AG            12.500  6/22/2018    EUR    48.750
UniCredit Bank AG             7.600  6/22/2018    EUR    57.130
UniCredit Bank AG            14.100  6/22/2018    EUR    73.990
UBS AG/London                19.300  6/28/2018    EUR    61.570
Commerzbank AG               10.500  7/27/2018    EUR    70.600
HSBC Trinkaus & Burkhardt     8.800  9/28/2018    EUR    42.180
HSBC Trinkaus & Burkhardt     6.700  9/28/2018    EUR    46.550
UBS AG/London                18.000  6/28/2018    EUR    74.040
UBS AG/London                 6.100  9/27/2018    EUR    69.380
HSBC Trinkaus & Burkhardt     7.600  6/22/2018    EUR    61.100
HSBC Trinkaus & Burkhardt     8.000  9/28/2018    EUR    61.250
HSBC Trinkaus & Burkhardt     3.600  9/28/2018    EUR    70.510
HSBC Trinkaus & Burkhardt     9.200  6/22/2018    EUR    43.890
HSBC Trinkaus & Burkhardt     6.700  6/22/2018    EUR    49.750
UBS AG/London                 8.250   8/3/2018    CHF    57.000
Leonteq Securities AG         7.200   5/2/2019    CHF    51.260
Deutsche Bank AG              4.200  9/25/2018    EUR    59.700
Deutsche Bank AG              5.500  9/25/2018    EUR    62.500
Deutsche Bank AG              5.500 12/27/2018    EUR    64.800
Deutsche Bank AG              5.500 12/27/2018    EUR    62.900
DZ Bank AG Deutsche Zentra    6.500  6/22/2018    EUR    71.900
Deutsche Bank AG              6.200  7/25/2018    EUR    65.900
Deutsche Bank AG              6.200 10/24/2018    EUR    65.200
DekaBank Deutsche Girozent    6.700  1/31/2019    EUR    64.250
DZ Bank AG Deutsche Zentra    6.500  6/22/2018    EUR    67.580
UBS AG/London                11.900   1/3/2019    EUR    71.510
HSBC Trinkaus & Burkhardt     5.000  7/27/2018    EUR    70.400
Raiffeisen Switzerland BV     5.000  8/14/2020    EUR    59.690
Deutsche Bank AG              2.700  9/25/2018    EUR    59.900
Deutsche Bank AG              2.700 12/27/2018    EUR    64.400
UBS AG/London                 9.700   1/3/2019    EUR    73.360
Deutsche Bank AG             10.000  9/25/2018    EUR    55.200
UBS AG/London                15.200  9/27/2018    EUR    65.520
UBS AG/London                12.500  9/27/2018    EUR    69.470
Deutsche Bank AG             10.000  9/25/2018    EUR    64.300
UniCredit Bank AG            10.900  6/22/2018    EUR    60.000
UniCredit Bank AG            11.800  6/22/2018    EUR    58.230
UniCredit Bank AG             7.200  6/22/2018    EUR    65.100
UniCredit Bank AG            12.900  6/22/2018    EUR    56.570
UniCredit Bank AG             6.700  6/22/2018    EUR    70.810
DZ Bank AG Deutsche Zentra    4.500  9/28/2018    EUR    73.150
UniCredit Bank AG             7.500  6/22/2018    EUR    49.650
UniCredit Bank AG            10.700  6/22/2018    EUR    73.390
HSBC Trinkaus & Burkhardt     8.800  9/28/2018    EUR    61.620
HSBC Trinkaus & Burkhardt    12.100  6/22/2018    EUR    39.440
DekaBank Deutsche Girozent    4.050  5/17/2019    EUR    65.700
Vontobel Financial Product    6.750   1/2/2019    EUR    58.990
Leonteq Securities AG        14.000   8/2/2018    USD    39.830
Deutsche Bank AG              4.200  9/25/2018    EUR    59.700
Vontobel Financial Product   13.450 12/14/2018    EUR    63.140
Vontobel Financial Product    5.200 12/14/2018    EUR    67.490
Leonteq Securities AG/Guer   11.000  4/12/2019    EUR    64.500
DZ Bank AG Deutsche Zentra    4.750  9/24/2018    EUR    53.940
DZ Bank AG Deutsche Zentra    5.500 12/24/2018    EUR    58.310
DZ Bank AG Deutsche Zentra    5.250  3/18/2019    EUR    59.340
DZ Bank AG Deutsche Zentra    5.500  9/24/2018    EUR    70.020
DZ Bank AG Deutsche Zentra    6.500 12/24/2018    EUR    70.240
DZ Bank AG Deutsche Zentra    5.500 12/24/2018    EUR    72.650
DZ Bank AG Deutsche Zentra    6.250  3/18/2019    EUR    71.540
HSBC Trinkaus & Burkhardt     4.600  6/22/2018    EUR    72.150
HSBC Trinkaus & Burkhardt     4.100  8/24/2018    EUR    73.580
HSBC Trinkaus & Burkhardt    10.300  9/28/2018    EUR    41.460
HSBC Trinkaus & Burkhardt     7.500  9/28/2018    EUR    45.570
HSBC Trinkaus & Burkhardt     7.300  9/28/2018    EUR    73.580
Commerzbank AG               13.000  8/24/2018    EUR    72.240
Commerzbank AG               13.250  9/28/2018    EUR    71.430
Vontobel Financial Product    7.500  6/22/2018    EUR    57.990
Vontobel Financial Product   10.500  6/22/2018    EUR    57.840
Vontobel Financial Product   12.550  6/22/2018    EUR    65.780
Vontobel Financial Product    8.500   1/2/2019    EUR    63.480
Vontobel Financial Product    2.500  9/28/2018    EUR    50.200
Vontobel Financial Product   10.500  9/28/2018    EUR    39.240
Vontobel Financial Product   12.500  9/28/2018    EUR    37.920
HSBC Trinkaus & Burkhardt     7.600  6/22/2018    EUR    62.650
Commerzbank AG               11.500 10/26/2018    EUR    73.710
Commerzbank AG               16.000  7/27/2018    EUR    60.280
Vontobel Financial Product    9.500  8/24/2018    EUR    65.160
Vontobel Financial Product    7.000  8/24/2018    EUR    65.620
Commerzbank AG               15.250  8/24/2018    EUR    61.760
DZ Bank AG Deutsche Zentra    4.000   8/2/2018    EUR    66.540
Deutsche Bank AG              5.500  9/25/2018    EUR    66.700
Vontobel Financial Product    6.000  6/22/2018    EUR    51.790
Deutsche Bank AG              5.500  9/25/2018    EUR    60.600
Deutsche Bank AG              5.500 12/27/2018    EUR    71.200
Deutsche Bank AG              5.500 12/27/2018    EUR    67.900
Deutsche Bank AG              5.500 12/27/2018    EUR    66.800
DZ Bank AG Deutsche Zentra    8.000  6/22/2018    EUR    54.970
DZ Bank AG Deutsche Zentra    8.250  6/22/2018    EUR    71.920
Vontobel Financial Product   11.500  9/28/2018    EUR    74.070
Deutsche Bank AG              6.200  8/22/2018    EUR    68.100
Commerzbank AG               12.500 11/23/2018    EUR    66.830
Deutsche Bank AG              5.500  9/25/2018    EUR    68.400
Deutsche Bank AG              6.200  7/25/2018    EUR    67.700
Deutsche Bank AG              6.200  8/22/2018    EUR    68.600
Deutsche Bank AG              6.200  8/22/2018    EUR    64.100
Deutsche Bank AG              6.200  8/22/2018    EUR    60.200
Deutsche Bank AG              6.200 10/24/2018    EUR    67.300
UBS AG/London                 8.600  6/22/2018    EUR    57.170
UBS AG/London                10.700   1/3/2019    EUR    61.590
Deutsche Bank AG              2.700  9/25/2018    EUR    63.800
DZ Bank AG Deutsche Zentra    5.000  1/25/2019    EUR    65.350
Vontobel Financial Product   10.500  6/22/2018    EUR    54.290
HSBC Trinkaus & Burkhardt     8.470  1/25/2019    EUR    72.170
Vontobel Financial Product   13.000  6/22/2018    EUR    51.670
Vontobel Financial Product    5.000  9/28/2018    EUR    68.880
Vontobel Financial Product    7.550  9/28/2018    EUR    61.050
Vontobel Financial Product   10.550  9/28/2018    EUR    55.300
Vontobel Financial Product   14.000  9/28/2018    EUR    50.930
Vontobel Financial Product    5.000   1/2/2019    EUR    69.970
Vontobel Financial Product    8.500   1/2/2019    EUR    60.010
Vontobel Financial Product   12.550   1/2/2019    EUR    53.750
Commerzbank AG               14.750  8/24/2018    EUR    71.260
Deutsche Bank AG              6.200  7/25/2018    EUR    74.000
Deutsche Bank AG              6.200  7/25/2018    EUR    68.200
Deutsche Bank AG              6.200  7/25/2018    EUR    61.600
Deutsche Bank AG              6.200  7/25/2018    EUR    59.700
UniCredit Bank AG            11.900  6/22/2018    EUR    74.230
UniCredit Bank AG             9.100  6/28/2019    EUR    73.300
UniCredit Bank AG            13.300  6/28/2019    EUR    68.540
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    72.160
BNP Paribas Emissions- und   12.000 12/31/2018    EUR    73.270
UniCredit Bank AG            10.500  9/28/2018    EUR    67.140
BNP Paribas Emissions- und    9.500  6/27/2019    EUR    71.600
Deutsche Bank AG              5.200 12/27/2018    EUR    72.400
Deutsche Bank AG              6.200  9/25/2018    EUR    69.200
UniCredit Bank AG            14.700   1/3/2020    EUR    69.380
Deutsche Bank AG              6.200  9/25/2018    EUR    73.300
UniCredit Bank AG            14.700   1/4/2019    EUR    41.000
UniCredit Bank AG            14.900   1/4/2019    EUR    64.830
UniCredit Bank AG            14.500   1/4/2019    EUR     9.590
BNP Paribas Emissions- und   19.000  9/27/2018    EUR    62.440
BNP Paribas Emissions- und    6.000  6/27/2019    EUR    66.850
BNP Paribas Emissions- und    8.500  6/27/2019    EUR    64.800
BNP Paribas Emissions- und   19.000 12/31/2018    EUR    62.710
BNP Paribas Emissions- und   16.000  6/27/2019    EUR    68.870
UniCredit Bank AG             9.300  3/22/2019    EUR    71.990
BNP Paribas Emissions- und   11.000  9/27/2018    EUR    60.800
Commerzbank AG               11.250   1/2/2019    EUR    71.890
Vontobel Financial Product    7.100 12/14/2018    EUR    73.130
Vontobel Financial Product   12.650 12/14/2018    EUR    71.510
Commerzbank AG               10.750  7/27/2018    EUR    70.660
Raiffeisen Centrobank AG     10.237  3/19/2019    EUR    69.080
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    66.220
BNP Paribas Emissions- und   11.000 12/31/2018    EUR    64.660
Bank Julius Baer & Co Ltd/    8.000  11/2/2018    USD    62.300
Vontobel Financial Product    8.500  9/28/2018    EUR    66.580
BNP Paribas Emissions- und    9.000  3/21/2019    EUR    72.100
BNP Paribas Emissions- und    8.000  6/27/2019    EUR    72.290
UniCredit Bank AG             9.400  3/22/2019    EUR    72.470
BNP Paribas Emissions- und    9.000  3/21/2019    EUR    70.200
UniCredit Bank AG            13.600  3/22/2019    EUR    69.170
Commerzbank AG               12.250   1/2/2019    EUR    70.520
BNP Paribas Emissions- und    6.500 12/31/2018    EUR    72.660
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    68.420
Zurcher Kantonalbank Finan    6.600   4/3/2019    CHF    63.060
UBS AG/London                11.750  11/1/2018    USD    62.700
Leonteq Securities AG/Guer   10.400  2/13/2019    CHF    70.700
Vontobel Financial Product   13.400  9/14/2018    EUR    69.900
Vontobel Financial Product   15.750  9/14/2018    EUR    64.510
Vontobel Financial Product    5.050  9/14/2018    EUR    66.840
Vontobel Financial Product    6.400  9/14/2018    EUR    66.180
Vontobel Financial Product    7.800  9/14/2018    EUR    67.520
Vontobel Financial Product   10.800  9/14/2018    EUR    67.130
DZ Bank AG Deutsche Zentra   15.000  6/22/2018    EUR    73.720
DZ Bank AG Deutsche Zentra    6.750  6/22/2018    EUR    72.640
Commerzbank AG                7.500  8/24/2018    EUR    73.920
Vontobel Financial Product   10.050  9/14/2018    EUR    73.420
Commerzbank AG                5.500  8/24/2018    EUR    70.760
UBS AG/London                12.800  9/27/2018    EUR    72.160
Commerzbank AG               10.500  8/24/2018    EUR    74.030
UBS AG/London                17.100  9/27/2018    EUR    74.040
BNP Paribas Emissions- und   16.000  9/27/2018    EUR    61.700
BNP Paribas Emissions- und   12.000 10/25/2018    EUR    66.350
Vontobel Financial Product    7.550  1/25/2019    EUR    67.700
Vontobel Financial Product    9.250  9/14/2018    EUR    63.100
Commerzbank AG               22.000 11/23/2018    EUR    65.000
Commerzbank AG                8.500  8/24/2018    EUR    72.520
DZ Bank AG Deutsche Zentra   11.000  2/20/2019    EUR    62.730
BNP Paribas Emissions- und   16.000 12/31/2018    EUR    63.180
Commerzbank AG               11.750  8/24/2018    EUR    38.710
Commerzbank AG               10.000  9/28/2018    EUR    71.600
Commerzbank AG                4.500 12/29/2022    USD #N/A N/A
Vontobel Financial Product    8.550   1/2/2019    EUR    65.250
Raiffeisen Centrobank AG     12.706 12/28/2018    EUR    63.160
Raiffeisen Centrobank AG      6.026 12/27/2019    EUR    70.940
Bank Julius Baer & Co Ltd/    8.000 11/14/2018    EUR    66.800
Vontobel Financial Product   14.000   1/2/2019    EUR    73.160
Credit Suisse AG/Nassau       7.500  7/29/2019    CHF    49.770
UniCredit Bank AG            10.600  6/22/2018    EUR    75.000
UniCredit Bank AG            13.900  9/28/2018    EUR    71.580
UniCredit Bank AG            13.700  6/28/2019    EUR    72.370
UniCredit Bank AG            13.600  9/28/2018    EUR    68.970
DZ Bank AG Deutsche Zentra    7.750  9/26/2018    EUR #N/A N/A
UniCredit Bank AG            14.300   1/4/2019    EUR    71.680
HSBC Trinkaus & Burkhardt     1.000 12/28/2018    EUR    68.830
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    65.600
Commerzbank AG               13.000  9/28/2018    EUR    68.260
Commerzbank AG               10.250   1/2/2019    EUR    73.310
Vontobel Financial Product   12.250 12/14/2018    EUR    66.690
Commerzbank AG                9.750  7/27/2018    EUR    72.640
Commerzbank AG               12.750  7/27/2018    EUR    67.170
Commerzbank AG               23.250 10/26/2018    EUR    63.620
Commerzbank AG               20.000 11/23/2018    EUR    66.700
Commerzbank AG                9.500  8/24/2018    EUR    71.120
BNP Paribas Emissions- und   12.000 12/31/2018    EUR    68.080
BNP Paribas Emissions- und   13.000  6/27/2019    EUR    65.860
Commerzbank AG                6.500  8/24/2018    EUR    69.040
Commerzbank AG               12.500  8/24/2018    EUR    70.310
UBS AG/London                20.200  9/27/2018    EUR    71.020
Commerzbank AG                9.750  8/24/2018    EUR    40.940
BNP Paribas Emissions- und   20.000  9/27/2018    EUR    70.980
Landesbank Baden-Wuerttemb    5.000 11/23/2018    EUR    60.450
Commerzbank AG               10.500  6/22/2018    EUR    71.090
Commerzbank AG                9.500  8/24/2018    EUR    70.680
Vontobel Financial Product   10.050  6/22/2018    EUR    63.550
Vontobel Financial Product    8.000  9/28/2018    EUR    71.200
Vontobel Financial Product   13.500   1/2/2019    EUR    67.970
DZ Bank AG Deutsche Zentra    7.750  9/24/2018    EUR    71.850
HSBC Trinkaus & Burkhardt     9.000 12/28/2018    EUR    72.090
Commerzbank AG               21.750  9/28/2018    EUR    64.050
Vontobel Financial Product    9.800   3/8/2019    EUR    65.880
Vontobel Financial Product    7.000  6/28/2019    EUR    72.080
Vontobel Financial Product    7.000  6/28/2019    EUR    72.080
Raiffeisen Centrobank AG     12.395  6/25/2019    EUR    71.520
EFG International Finance     7.660  10/5/2018    USD    53.270
BNP Paribas Emissions- und   19.000 12/31/2018    EUR    69.980
Vontobel Financial Product    8.000 11/23/2018    EUR    64.630
Vontobel Financial Product   11.550  9/28/2018    EUR    68.830
Vontobel Financial Product    8.500   1/2/2019    EUR    72.470
Vontobel Financial Product   17.000   1/2/2019    EUR    65.760
Vontobel Financial Product    8.550  6/28/2019    EUR    72.820
Vontobel Financial Product   10.550  6/28/2019    EUR    70.560
Commerzbank AG                9.500  1/25/2019    EUR    69.970
HSBC Trinkaus & Burkhardt     7.600 10/26/2018    EUR    72.720
HSBC Trinkaus & Burkhardt     7.800 11/23/2018    EUR    73.300
HSBC Trinkaus & Burkhardt     3.500 10/26/2018    EUR    66.920
HSBC Trinkaus & Burkhardt    11.300  9/28/2018    EUR    72.510
HSBC Trinkaus & Burkhardt     5.400  9/28/2018    EUR    66.360
HSBC Trinkaus & Burkhardt     7.500  3/22/2019    EUR    65.540
Vontobel Financial Product   10.700  9/14/2018    EUR    65.810
Vontobel Financial Product   13.200  9/14/2018    EUR    64.110
Vontobel Financial Product   12.950 12/14/2018    EUR    65.000
Vontobel Financial Product   10.500  9/21/2018    EUR    63.560
Vontobel Financial Product   13.000   1/2/2019    EUR    65.800
Vontobel Financial Product   13.000  6/28/2019    EUR    67.880
Commerzbank AG                8.000  11/6/2020    USD     3.160
DZ Bank AG Deutsche Zentra    9.250  9/26/2018    EUR #N/A N/A
Bank Julius Baer & Co Ltd/    9.500  8/23/2018    USD    62.400
Commerzbank AG               15.000  7/27/2018    EUR    65.670
Commerzbank AG               14.000  8/24/2018    EUR    66.890
Raiffeisen Centrobank AG     11.943  3/19/2019    EUR    69.340
BNP Paribas Emissions- und    7.500  9/27/2018    EUR    71.600
Credit Suisse AG/London       8.000  10/9/2018    USD    53.450
Commerzbank AG                5.000  7/27/2018    EUR    45.820
BNP Paribas Emissions- und   19.000 10/25/2018    EUR    61.520
Vontobel Financial Product   11.650  9/14/2018    EUR    63.620
BNP Paribas Emissions- und   16.000 10/25/2018    EUR    62.740
Commerzbank AG               11.750  7/27/2018    EUR    68.850
Leonteq Securities AG/Guer   12.000  4/30/2019    EUR    72.270
Vontobel Financial Product    9.000 10/30/2018    EUR    70.540
Commerzbank AG               12.000  9/28/2018    EUR    71.880
BNP Paribas Emissions- und   13.000  6/27/2019    EUR    67.760
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    73.030
Commerzbank AG               11.500  8/24/2018    EUR    72.000
Commerzbank AG                3.750  8/24/2018    EUR    58.520
BNP Paribas Emissions- und   19.000  9/27/2018    EUR    60.220
Commerzbank AG                9.000  7/27/2018    EUR    69.880
DZ Bank AG Deutsche Zentra    6.500 11/21/2018    EUR    72.220
Commerzbank AG                4.500 12/30/2024    USD #N/A N/A
Raiffeisen Centrobank AG     10.166  6/25/2019    EUR    71.510
Vontobel Financial Product   11.550  9/28/2018    EUR    74.610
DZ Bank AG Deutsche Zentra    8.500   1/2/2019    EUR    69.330
Commerzbank AG                7.500  8/24/2018    EUR    67.800
UBS AG/London                16.600  9/27/2018    EUR    63.800
Commerzbank AG               12.000  6/22/2018    EUR    73.190
Commerzbank AG                5.750  8/24/2018    EUR    48.920
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    65.680
Vontobel Financial Product   12.350 12/14/2018    EUR    68.750
Vontobel Financial Product    9.800 12/14/2018    EUR    71.980
BNP Paribas Emissions- und   18.000 10/25/2018    EUR    71.790
Commerzbank AG               10.000  9/28/2018    EUR    40.110
Raiffeisen Centrobank AG      8.008  6/25/2019    EUR    71.970
Leonteq Securities AG/Guer   13.400   1/3/2019    EUR    64.120
Raiffeisen Centrobank AG     10.588 12/28/2018    EUR    69.680
Raiffeisen Centrobank AG      6.850 12/27/2019    EUR    73.080
Vontobel Financial Product    9.550  9/28/2018    EUR    70.910
Vontobel Financial Product    8.500   1/2/2019    EUR    63.320
Vontobel Financial Product    8.500  9/28/2018    EUR    72.260
UniCredit Bank AG            13.000   1/4/2019    EUR    61.850
UBS AG/London                 8.750  8/16/2018    CHF    64.000
DZ Bank AG Deutsche Zentra    6.000  9/28/2018    EUR    61.400
DZ Bank AG Deutsche Zentra    5.200  3/28/2019    EUR    61.600
DZ Bank AG Deutsche Zentra    5.000 12/28/2018    EUR    69.810
Raiffeisen Schweiz Genosse    5.400   8/2/2019    CHF    71.450
DZ Bank AG Deutsche Zentra    5.000  3/28/2019    EUR    61.810
DZ Bank AG Deutsche Zentra    7.250 12/24/2018    EUR    64.310
DZ Bank AG Deutsche Zentra    5.000  3/18/2019    EUR    67.720
DZ Bank AG Deutsche Zentra    8.250   1/2/2019    EUR    72.790
DZ Bank AG Deutsche Zentra    8.600 12/24/2018    EUR    69.730
DZ Bank AG Deutsche Zentra    7.600  3/18/2019    EUR    70.850
Commerzbank AG               25.250  8/24/2018    EUR    58.440
Commerzbank AG               14.500  9/28/2018    EUR    73.510
Commerzbank AG               17.250  7/27/2018    EUR    63.290
Commerzbank AG               16.250  8/24/2018    EUR    64.310
Commerzbank AG               12.500 10/26/2018    EUR    68.630
Commerzbank AG               14.500 10/26/2018    EUR    66.640
DZ Bank AG Deutsche Zentra    5.000  8/24/2018    EUR    67.290
Leonteq Securities AG/Guer   12.800  1/10/2019    CHF    62.150
UniCredit Bank AG            12.500  9/28/2018    EUR    67.260
UniCredit Bank AG            13.800  9/28/2018    EUR    65.050
BNP Paribas Emissions- und    8.500  9/27/2018    EUR    70.690
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    66.810
BNP Paribas Emissions- und   11.000 12/31/2018    EUR    68.980
UniCredit Bank AG            14.200  9/28/2018    EUR    63.970
UniCredit Bank AG            14.200  6/28/2019    EUR    73.130
UniCredit Bank AG            13.600  9/28/2018    EUR    70.160
Deutsche Bank AG              6.200 12/27/2018    EUR    70.500
UniCredit Bank AG            11.400  3/22/2019    EUR    67.240
Deutsche Bank AG              6.200  9/25/2018    EUR    71.700
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    72.570
BNP Paribas Emissions- und    9.000  3/21/2019    EUR    73.920
UniCredit Bank AG            13.400   1/3/2020    EUR    71.870
Deutsche Bank AG              5.200  9/25/2018    EUR    73.000
Credit Suisse AG/London       8.250  8/29/2018    USD    54.060
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    61.910
Deutsche Bank AG              6.200  2/20/2019    EUR    71.300
Commerzbank AG               10.500 10/26/2018    EUR    70.400
Commerzbank AG               11.500 10/26/2018    EUR    69.060
Commerzbank AG                5.250 10/26/2018    EUR    47.490
Commerzbank AG                7.250 10/26/2018    EUR    43.090
Commerzbank AG                9.250 10/26/2018    EUR    40.570
DZ Bank AG Deutsche Zentra   12.250  7/25/2018    EUR #N/A N/A
Commerzbank AG                8.750   1/2/2019    EUR    71.130
Deutsche Bank AG              6.200  2/20/2019    EUR    73.700
Deutsche Bank AG              6.200  2/20/2019    EUR    67.000
Commerzbank AG               19.750   1/2/2019    EUR    64.670
DZ Bank AG Deutsche Zentra    5.000  8/24/2018    EUR    67.160
UniCredit Bank AG            14.800  6/28/2019    EUR    69.770
UniCredit Bank AG            13.900  9/28/2018    EUR    67.280
Landesbank Hessen-Thuering    6.500  2/16/2023    EUR    73.530
UniCredit Bank AG             7.600  9/28/2018    EUR    69.670
BNP Paribas Emissions- und    7.500  3/21/2019    EUR    74.430
UniCredit Bank AG            14.900  9/28/2018    EUR    73.600
UniCredit Bank AG            11.800  9/28/2018    EUR    74.090
UniCredit Bank AG            13.800  6/28/2019    EUR    72.650
BNP Paribas Emissions- und   13.000  3/21/2019    EUR    73.650
UniCredit Bank AG            12.200  6/28/2019    EUR    67.530
Deutsche Bank AG              6.200 12/27/2018    EUR    72.900
Deutsche Bank AG              6.200 12/27/2018    EUR    68.300
Deutsche Bank AG              5.200 12/27/2018    EUR    67.800
Deutsche Bank AG              6.200  9/25/2018    EUR    66.900
UniCredit Bank AG            14.900  9/28/2018    EUR    59.310
UniCredit Bank AG             8.800  9/28/2018    EUR    68.940
UniCredit Bank AG            11.400  9/28/2018    EUR    70.490
UniCredit Bank AG            12.000   1/4/2019    EUR    43.030
UniCredit Bank AG             4.000   1/4/2019    EUR    59.440
UniCredit Bank AG            11.500   1/4/2019    EUR    67.250
DZ Bank AG Deutsche Zentra    7.200  3/28/2019    EUR    72.840
Commerzbank AG               10.500 10/26/2018    EUR    69.720
DZ Bank AG Deutsche Zentra    8.000  9/24/2018    EUR    63.160
Vontobel Financial Product   15.000  9/28/2018    EUR    69.770
DZ Bank AG Deutsche Zentra    5.000 12/24/2018    EUR    66.580
Commerzbank AG               22.250  9/28/2018    EUR    58.900
Commerzbank AG               21.000 10/26/2018    EUR    60.100
Commerzbank AG               17.750  7/27/2018    EUR    71.480
DZ Bank AG Deutsche Zentra    6.300  3/18/2019    EUR    73.980
Vontobel Financial Product    9.750  7/27/2018    EUR    62.070
DZ Bank AG Deutsche Zentra    9.200  9/24/2018    EUR    67.830
DZ Bank AG Deutsche Zentra    4.750  9/24/2018    EUR    61.890
DZ Bank AG Deutsche Zentra    6.500  3/18/2019    EUR    68.350
Vontobel Financial Product   13.500  6/22/2018    EUR    73.530
DZ Bank AG Deutsche Zentra    7.250  3/18/2019    EUR    73.730
DZ Bank AG Deutsche Zentra    6.600 12/24/2018    EUR    73.040
DZ Bank AG Deutsche Zentra    6.000  3/18/2019    EUR    73.850
Commerzbank AG                0.100 12/27/2018    RUB     2.160
DZ Bank AG Deutsche Zentra    8.250 12/24/2018    EUR    59.600
DZ Bank AG Deutsche Zentra    5.500  9/24/2018    EUR    66.850
DZ Bank AG Deutsche Zentra    6.250 12/24/2018    EUR    70.110
DZ Bank AG Deutsche Zentra    6.250 11/23/2018    EUR    41.410
Raiffeisen Centrobank AG      8.862  9/25/2018    EUR    68.080
DZ Bank AG Deutsche Zentra    5.500  3/20/2019    EUR    73.180
Commerzbank AG                9.500 10/26/2018    EUR    71.880
Commerzbank AG               14.750   1/2/2019    EUR    64.050
Commerzbank AG               10.000 11/23/2018    EUR    72.540
Commerzbank AG               11.000 11/23/2018    EUR    71.020
Leonteq Securities AG/Guer   12.800 10/30/2018    USD    72.260
DZ Bank AG Deutsche Zentra    6.500 12/24/2018    EUR    65.850
DZ Bank AG Deutsche Zentra    8.500  3/18/2019    EUR #N/A N/A
DZ Bank AG Deutsche Zentra    7.000  3/18/2019    EUR    69.170
DZ Bank AG Deutsche Zentra    5.500 12/24/2018    EUR    72.180
DZ Bank AG Deutsche Zentra    6.500 12/24/2018    EUR    73.810
DZ Bank AG Deutsche Zentra   15.000  7/25/2018    EUR #N/A N/A
Commerzbank AG               10.750   1/2/2019    EUR    67.940
Commerzbank AG               12.750   1/2/2019    EUR    65.740
Deutsche Bank AG              6.200  2/20/2019    EUR    72.400
Deutsche Bank AG              6.200  2/20/2019    EUR    71.300
Commerzbank AG               14.000 11/23/2018    EUR    67.460
Commerzbank AG               13.500   1/2/2019    EUR    68.640
Commerzbank AG               15.250  9/28/2018    EUR    65.610
UBS AG/London                 7.000  2/22/2019    EUR    73.140
Deutsche Bank AG              6.200  2/20/2019    EUR    72.400
Deutsche Bank AG              6.200  1/23/2019    EUR    73.300
DZ Bank AG Deutsche Zentra   11.250  7/25/2018    EUR    70.820
Commerzbank AG               14.250  9/28/2018    EUR    63.300
Deutsche Bank AG              6.200  2/20/2019    EUR    69.900
DZ Bank AG Deutsche Zentra   10.750  8/24/2018    EUR    61.330
DZ Bank AG Deutsche Zentra    6.500  9/28/2018    EUR    73.560
Deutsche Bank AG              8.500 10/15/2018    USD     8.080
DZ Bank AG Deutsche Zentra    8.250  3/18/2019    EUR    63.870
DZ Bank AG Deutsche Zentra    6.250  9/24/2018    EUR    70.020
DZ Bank AG Deutsche Zentra    7.250  9/24/2018    EUR    67.310
DZ Bank AG Deutsche Zentra    6.700  3/18/2019    EUR    72.240
Vontobel Financial Product   10.500 10/26/2018    EUR    68.390
Raiffeisen Centrobank AG      7.374  3/19/2019    EUR    65.960
DZ Bank AG Deutsche Zentra    5.000  9/24/2018    EUR    59.170
DZ Bank AG Deutsche Zentra    6.250  3/18/2019    EUR    67.270
DZ Bank AG Deutsche Zentra    7.200 12/24/2018    EUR    71.980
Deutsche Bank AG              6.200  1/23/2019    EUR    66.600
Deutsche Bank AG              6.200  2/20/2019    EUR    73.700
UniCredit Bank AG            12.800  9/28/2018    EUR    39.990
UniCredit Bank AG             6.600  6/28/2019    EUR    70.920
BNP Paribas Emissions- und    9.500  3/21/2019    EUR    72.060
UniCredit Bank AG            10.900   1/3/2020    EUR    72.820
Commerzbank AG                6.500 10/26/2018    EUR    72.980
BNP Paribas Emissions- und   18.000  9/27/2018    EUR    73.480
UniCredit Bank AG            12.300  3/22/2019    EUR    68.310
DZ Bank AG Deutsche Zentra    5.500  9/24/2018    EUR    59.300
Commerzbank AG               20.000 11/23/2018    EUR    61.210
DZ Bank AG Deutsche Zentra    6.700  9/24/2018    EUR    71.620
DZ Bank AG Deutsche Zentra    7.800  9/24/2018    EUR    69.640
DZ Bank AG Deutsche Zentra    7.600 12/24/2018    EUR    71.330
DZ Bank AG Deutsche Zentra    5.750  9/24/2018    EUR #N/A N/A
DZ Bank AG Deutsche Zentra    7.250  9/24/2018    EUR #N/A N/A
DZ Bank AG Deutsche Zentra    5.000 12/24/2018    EUR    73.740
DZ Bank AG Deutsche Zentra    5.000  3/18/2019    EUR    72.420
DZ Bank AG Deutsche Zentra    4.750  9/24/2018    EUR    68.190
DZ Bank AG Deutsche Zentra    5.250 12/24/2018    EUR    74.010
DZ Bank AG Deutsche Zentra    5.000  3/18/2019    EUR    74.990
Vontobel Financial Product   10.000  8/24/2018    EUR    69.670
Deutsche Bank AG              6.200  1/23/2019    EUR    72.000
Deutsche Bank AG              6.200  1/23/2019    EUR    69.500
Deutsche Bank AG              6.200  2/20/2019    EUR    69.900
Deutsche Bank AG              6.200  1/23/2019    EUR    70.900
Deutsche Bank AG              6.200  2/20/2019    EUR    67.000
Raiffeisen Centrobank AG     13.292  9/25/2018    EUR    66.820
Raiffeisen Centrobank AG      4.431  9/25/2018    EUR    70.450
Commerzbank AG               12.250  7/27/2018    EUR    73.790
DZ Bank AG Deutsche Zentra   13.750  7/25/2018    EUR #N/A N/A
Commerzbank AG                8.500 10/26/2018    EUR    73.560
Commerzbank AG                3.250 10/26/2018    EUR    57.160
Commerzbank AG               11.250 10/26/2018    EUR    38.860
Vontobel Financial Product    3.600   2/1/2019    EUR    69.910
Commerzbank AG               13.000 10/26/2018    EUR    64.660
Commerzbank AG               12.000 11/23/2018    EUR    69.680
Commerzbank AG               26.750  7/27/2018    EUR    56.760
Leonteq Securities AG/Guer   10.000  1/10/2019    USD    65.010
Commerzbank AG               12.750 10/26/2018    EUR    72.290
BNP Paribas Emissions- und    6.800 10/25/2018    EUR    69.180
UniCredit Bank AG             6.300  9/28/2018    EUR    47.890
Vontobel Financial Product   14.000   1/2/2019    EUR    66.860
Vontobel Financial Product   10.500  9/28/2018    EUR    71.000
Commerzbank AG               14.500  9/28/2018    EUR    66.560
Vontobel Financial Product    4.300 12/14/2018    EUR    58.870
HSBC Trinkaus & Burkhardt     4.500  9/28/2018    EUR    39.750
HSBC Trinkaus & Burkhardt     6.500  9/28/2018    EUR    69.160
HSBC Trinkaus & Burkhardt     5.800 12/28/2018    EUR    72.330
Commerzbank AG                6.500  6/22/2018    EUR    63.750
Commerzbank AG                3.000  9/28/2018    EUR    48.280
Vontobel Financial Product   13.550  6/22/2018    EUR    65.910
Vontobel Financial Product    7.000  8/24/2018    EUR    69.790
Vontobel Financial Product    8.500   1/2/2019    EUR    71.780
Leonteq Securities AG/Guer   13.200  1/16/2019    CHF    66.490
BNP Paribas Emissions- und    6.000  3/21/2019    EUR    74.280
BNP Paribas Emissions- und    5.000  6/27/2019    EUR    66.910
Commerzbank AG                5.750  8/24/2018    EUR    38.580
Commerzbank AG                8.750  9/28/2018    EUR    35.610
Commerzbank AG                4.500  7/27/2018    EUR    41.050
Commerzbank AG                6.500  7/27/2018    EUR    37.570
Commerzbank AG               10.250 10/26/2018    EUR    69.620
DZ Bank AG Deutsche Zentra    6.400  9/24/2018    EUR    72.310
Commerzbank AG               14.000  9/28/2018    EUR    73.970
Commerzbank AG               14.500  7/27/2018    EUR    71.360
DZ Bank AG Deutsche Zentra   11.000  2/20/2019    EUR    67.340
HSBC Trinkaus & Burkhardt     6.700  9/28/2018    EUR    62.300
HSBC Trinkaus & Burkhardt     4.000  6/28/2019    EUR    67.010
Vontobel Financial Product   10.500   1/2/2019    EUR    68.410
Vontobel Financial Product   12.000   1/2/2019    EUR    67.180
Vontobel Financial Product   15.000   1/2/2019    EUR    65.050
Vontobel Financial Product    8.500   1/2/2019    EUR    71.780
Commerzbank AG               11.500  9/28/2018    EUR    66.200
Commerzbank AG               12.750  8/24/2018    EUR    66.850
Commerzbank AG                8.500 11/23/2018    EUR    72.050
Raiffeisen Schweiz Genosse   10.000 10/16/2018    CHF    57.330
Vontobel Financial Product    8.000  9/28/2018    EUR    41.740
DZ Bank AG Deutsche Zentra    4.500 12/28/2018    EUR    70.910
Bank Julius Baer & Co Ltd/   12.750  4/23/2019    USD    69.650
Bank Julius Baer & Co Ltd/   14.100  1/24/2019    USD    68.300
Vontobel Financial Product   14.500   1/2/2019    EUR    72.360
Commerzbank AG               15.000  8/24/2018    EUR    67.790
BNP Paribas Emissions- und    7.000  3/21/2019    EUR    72.440
Commerzbank AG                3.750  8/24/2018    EUR    43.010
Commerzbank AG               11.750  8/24/2018    EUR    33.460
Commerzbank AG                4.750  9/28/2018    EUR    40.180
Vontobel Financial Product    7.750   3/8/2019    EUR    68.300
HSBC Trinkaus & Burkhardt     8.500  9/28/2018    EUR    70.950
HSBC Trinkaus & Burkhardt     9.000  3/22/2019    EUR    72.240
HSBC Trinkaus & Burkhardt    11.900 12/28/2018    EUR    68.480
Vontobel Financial Product    8.550  9/28/2018    EUR    69.790
Vontobel Financial Product   14.000  9/28/2018    EUR    64.620
Vontobel Financial Product   11.000  9/28/2018    EUR    68.080
Vontobel Financial Product    7.500  6/28/2019    EUR    73.560
Vontobel Financial Product    7.550   1/2/2019    EUR    73.700
Vontobel Financial Product   11.000  6/28/2019    EUR    69.210
Vontobel Financial Product    4.000  9/28/2018    EUR    47.310
BNP Paribas Emissions- und    3.000  6/27/2019    EUR    70.190
Commerzbank AG                8.000  2/22/2019    EUR    72.170
Commerzbank AG               10.500  7/27/2018    EUR    33.870
Commerzbank AG                8.500 10/26/2018    EUR    36.210
Commerzbank AG                7.750  8/24/2018    EUR    44.010
BNP Paribas Emissions- und   19.000  8/23/2018    EUR    61.100
Raiffeisen Centrobank AG      9.940 12/27/2019    EUR    72.550
Raiffeisen Centrobank AG      8.395 12/27/2019    EUR    72.650
Vontobel Financial Product    7.000  9/28/2018    EUR    62.540
Vontobel Financial Product   12.000  6/22/2018    EUR    63.560
Vontobel Financial Product    7.550   1/2/2019    EUR    69.390
Vontobel Financial Product    9.500   1/2/2019    EUR    63.840
Vontobel Financial Product   16.550  9/28/2018    EUR    65.470
BNP Paribas Emissions- und   13.000 10/25/2018    EUR    72.700
HSBC Trinkaus & Burkhardt    10.500  3/22/2019    EUR    70.790
HSBC Trinkaus & Burkhardt     6.400  3/22/2019    EUR    63.110
HSBC Trinkaus & Burkhardt     2.000 11/23/2018    EUR    72.320
HSBC Trinkaus & Burkhardt     3.500  2/23/2019    EUR    67.540
HSBC Trinkaus & Burkhardt     9.700 12/28/2018    EUR    73.890
HSBC Trinkaus & Burkhardt     5.600  3/22/2019    EUR    67.280
HSBC Trinkaus & Burkhardt     4.000  6/28/2019    EUR    70.010
HSBC Trinkaus & Burkhardt     3.300 10/26/2018    EUR    69.630
HSBC Trinkaus & Burkhardt     3.300 11/23/2018    EUR    69.680
Vontobel Financial Product   12.100   3/8/2019    EUR    64.020
Vontobel Financial Product    5.800   3/8/2019    EUR    71.250
Vontobel Financial Product    6.550   1/2/2019    EUR    70.990
Vontobel Financial Product    8.750  9/28/2018    EUR    65.170
Vontobel Financial Product    8.500  6/22/2018    EUR    73.470
Vontobel Financial Product   10.000  6/22/2018    EUR    70.710
Vontobel Financial Product    9.500   1/2/2019    EUR    70.030
Vontobel Financial Product   13.500   1/2/2019    EUR    66.060
Commerzbank AG                9.750   1/2/2019    EUR    67.880
Commerzbank AG               13.750  8/24/2018    EUR    66.110
BNP Paribas Emissions- und    5.000  3/21/2019    EUR    76.460
BNP Paribas Emissions- und    7.000  3/21/2019    EUR    72.240
BNP Paribas Emissions- und    8.500  3/21/2019    EUR    70.750
Commerzbank AG                7.750  8/24/2018    EUR    36.190
Commerzbank AG                9.750  8/24/2018    EUR    34.660
Commerzbank AG                6.750  9/28/2018    EUR    37.250
DZ Bank AG Deutsche Zentra    9.750  2/20/2019    EUR    67.510
Commerzbank AG               10.750 11/23/2018    EUR    69.420
Commerzbank AG               11.250 10/26/2018    EUR    68.680
Commerzbank AG               15.000  8/24/2018    EUR    73.400
Vontobel Financial Product    6.850   3/8/2019    EUR    70.520
HSBC Trinkaus & Burkhardt     5.800  9/28/2018    EUR    68.060
HSBC Trinkaus & Burkhardt     5.500 12/28/2018    EUR    68.770
HSBC Trinkaus & Burkhardt     8.000 12/28/2018    EUR    38.760
Vontobel Financial Product    8.050  9/21/2018    EUR    54.370
Vontobel Financial Product    5.750   3/8/2019    EUR    63.880
HSBC Trinkaus & Burkhardt     6.800  6/22/2018    EUR    69.480
HSBC Trinkaus & Burkhardt     6.800  6/22/2018    EUR    69.410
BNP Paribas Emissions- und   17.000  8/23/2018    EUR    71.210
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    72.320
Vontobel Financial Product   14.000  9/28/2018    EUR    67.060
Vontobel Financial Product   10.500  9/28/2018    EUR    61.650
Vontobel Financial Product   10.000   1/2/2019    EUR    70.740
Vontobel Financial Product   11.500   1/2/2019    EUR    69.150
Vontobel Financial Product   15.550   1/2/2019    EUR    66.960
HSBC Trinkaus & Burkhardt     7.800  3/22/2019    EUR    61.950
HSBC Trinkaus & Burkhardt     2.400  6/28/2019    EUR    70.790
HSBC Trinkaus & Burkhardt     3.400 11/23/2018    EUR    67.010
HSBC Trinkaus & Burkhardt     2.000  1/25/2019    EUR    72.440
HSBC Trinkaus & Burkhardt     2.000  2/23/2019    EUR    72.390
HSBC Trinkaus & Burkhardt     5.400 12/28/2018    EUR    67.280
HSBC Trinkaus & Burkhardt     3.600  2/23/2019    EUR    70.190
Vontobel Financial Product   11.050 12/14/2018    EUR    66.190
Vontobel Financial Product    4.750 12/21/2018    EUR    72.110
Vontobel Financial Product    8.500  3/22/2019    EUR    66.920
Vontobel Financial Product    7.000  9/28/2018    EUR    71.880
Vontobel Financial Product   10.050  9/28/2018    EUR    67.840
Vontobel Financial Product   12.000  9/28/2018    EUR    66.160
Vontobel Financial Product   16.000  9/28/2018    EUR    63.210
Vontobel Financial Product   12.500  9/28/2018    EUR    66.290
Vontobel Financial Product   11.500   1/2/2019    EUR    73.160
Vontobel Financial Product   10.000  3/22/2019    EUR    73.220
Vontobel Financial Product   10.000  6/28/2019    EUR    73.450
Vontobel Financial Product    8.500  9/28/2018    EUR    72.270
Vontobel Financial Product   10.000  9/28/2018    EUR    70.160
Vontobel Financial Product   11.550  6/22/2018    EUR    68.250
Vontobel Financial Product    9.000  6/28/2019    EUR    70.930
Vontobel Financial Product   11.000   1/2/2019    EUR    68.670
Leonteq Securities AG/Guer    7.000  4/16/2020    CHF    68.800
Commerzbank AG               11.000 10/26/2018    EUR    66.700
Commerzbank AG               12.500 11/23/2018    EUR    67.960
DZ Bank AG Deutsche Zentra    8.250  6/22/2018    EUR    70.500
DZ Bank AG Deutsche Zentra   10.500  6/22/2018    EUR    63.780
HSBC Trinkaus & Burkhardt     9.800  9/28/2018    EUR    69.980
Commerzbank AG               12.500  7/27/2018    EUR    32.640
Commerzbank AG               10.750  9/28/2018    EUR    34.460
Commerzbank AG                4.500 10/26/2018    EUR    41.250
Commerzbank AG                6.500 10/26/2018    EUR    37.920
Commerzbank AG               10.500 10/26/2018    EUR    35.040
Commerzbank AG                8.750 10/26/2018    EUR    72.950
Commerzbank AG               15.750  7/27/2018    EUR    66.030
Vontobel Financial Product    9.000  1/25/2019    EUR    66.060
DZ Bank AG Deutsche Zentra    8.500  9/24/2018    EUR    60.450
EFG International Finance    10.400   2/7/2019    EUR    73.880
Vontobel Financial Product   17.000   1/2/2019    EUR    63.960
Vontobel Financial Product   14.550  9/28/2018    EUR    66.250
Vontobel Financial Product   11.000   1/2/2019    EUR    70.340
UBS AG/London                16.000  8/30/2018    CHF    21.950
UBS AG/London                 6.000  8/30/2019    CHF    56.550
Zurcher Kantonalbank Finan   11.000   2/1/2019    EUR    71.400
Vontobel Financial Product   10.350   3/8/2019    EUR    60.510
Commerzbank AG               12.500   1/2/2019    EUR    69.140
Bank Julius Baer & Co Ltd/   14.400  1/24/2019    USD    68.700
Commerzbank AG                5.500  9/28/2018    EUR    62.920
HSBC Trinkaus & Burkhardt    12.300  6/22/2018    EUR    41.770
HSBC Trinkaus & Burkhardt    11.100  9/28/2018    EUR    40.630
HSBC Trinkaus & Burkhardt     3.900  9/28/2018    EUR    52.660
HSBC Trinkaus & Burkhardt    10.100 12/28/2018    EUR    42.850
Raiffeisen Schweiz Genosse    9.100   3/8/2019    CHF    59.380
Leonteq Securities AG/Guer   10.600  1/16/2019    EUR    72.010
Commerzbank AG               12.750  8/24/2018    EUR    65.020
Commerzbank AG                9.500 11/23/2018    EUR    70.800
Vontobel Financial Product    5.500  9/28/2018    EUR    44.820
BNP Paribas Emissions- und    3.500  9/26/2019    EUR    68.430
Commerzbank AG                7.000 11/23/2018    EUR    73.010
Commerzbank AG                8.500  7/27/2018    EUR    35.370
Commerzbank AG               12.000  9/28/2018    EUR    67.680
Commerzbank AG               15.750  7/27/2018    EUR    72.860
Vontobel Financial Product    9.200 12/14/2018    EUR    71.040
Vontobel Financial Product   11.600 12/14/2018    EUR    71.900
Vontobel Financial Product   15.550   1/2/2019    EUR    65.360
Vontobel Financial Product   12.550  9/28/2018    EUR    68.530
Vontobel Financial Product   12.500   1/2/2019    EUR    68.520
Vontobel Financial Product    3.950   3/8/2019    EUR    63.940
DZ Bank AG Deutsche Zentra    6.250  6/22/2018    EUR    53.150
DZ Bank AG Deutsche Zentra    6.250  6/22/2018    EUR    74.210
Vontobel Financial Product    5.500  6/22/2018    EUR    48.160
Commerzbank AG                7.000  8/24/2018    EUR    61.420
Commerzbank AG                8.000  9/28/2018    EUR    67.850
Commerzbank AG                6.500   1/2/2019    EUR    69.140
Commerzbank AG                4.000  7/27/2018    EUR    68.160
Commerzbank AG                3.750 10/26/2018    EUR    69.600
Commerzbank AG               12.250  7/27/2018    EUR    65.400
Leonteq Securities AG/Guer   11.000  9/12/2018    USD    48.580
DZ Bank AG Deutsche Zentra    8.500  6/22/2018    EUR    44.420
Vontobel Financial Product    9.000  8/24/2018    EUR    61.850
EFG International Finance    10.400  1/24/2019    EUR    72.550
Vontobel Financial Product    7.550   1/2/2019    EUR    73.190
Vontobel Financial Product    9.500  6/22/2018    EUR    61.940
Vontobel Financial Product   10.000  6/22/2018    EUR    59.710
Vontobel Financial Product    7.500  6/22/2018    EUR    73.200
UniCredit Bank AG            10.400  6/22/2018    EUR    50.590
UniCredit Bank AG             8.100  6/22/2018    EUR    54.760
UniCredit Bank AG             6.500  6/22/2018    EUR    51.280
UniCredit Bank AG             7.700  6/22/2018    EUR    48.100
UniCredit Bank AG            12.000  6/22/2018    EUR    40.590
HSBC Trinkaus & Burkhardt     8.900  1/25/2019    EUR    65.650
Vontobel Financial Product   10.550  6/22/2018    EUR    64.670
HSBC Trinkaus & Burkhardt    13.100  1/25/2019    EUR    71.140
DZ Bank AG Deutsche Zentra    5.000  9/24/2018    EUR    57.800
HSBC Trinkaus & Burkhardt     5.400  6/22/2018    EUR    74.740
HSBC Trinkaus & Burkhardt    11.900  1/25/2019    EUR    63.880
Commerzbank AG                7.500 11/23/2018    EUR    65.680
Vontobel Financial Product    2.500  1/29/2019    EUR    66.950
Commerzbank AG               13.000  7/27/2018    EUR    73.980
Commerzbank AG               15.500   1/2/2019    EUR    59.330
Commerzbank AG               12.500  7/27/2018    EUR    60.730
Commerzbank AG               10.500   1/2/2019    EUR    65.020
Vontobel Financial Product   11.000  6/22/2018    EUR    54.380
UBS AG/London                 9.300  9/27/2018    EUR    71.210
Deutsche Bank AG             10.000  9/25/2018    EUR    74.900
Deutsche Bank AG             10.000 12/27/2018    EUR    66.700
Landesbank Baden-Wuerttemb    4.500   1/4/2019    EUR    73.870
UniCredit Bank AG            10.800  6/22/2018    EUR    74.320
Vontobel Financial Product    8.500  6/22/2018    EUR    62.330
UniCredit Bank AG            13.900  6/22/2018    EUR    72.990
UniCredit Bank AG            13.600  6/22/2018    EUR    38.600
UniCredit Bank AG             9.100  6/22/2018    EUR    45.300
HSBC Trinkaus & Burkhardt     4.300  8/24/2018    EUR    69.510
HSBC Trinkaus & Burkhardt    12.600  1/25/2019    EUR    63.410
DZ Bank AG Deutsche Zentra    6.100  9/24/2018    EUR    63.590
DZ Bank AG Deutsche Zentra    7.900  9/24/2018    EUR    60.260
Vontobel Financial Product    8.500  6/22/2018    EUR    67.470
HSBC Trinkaus & Burkhardt    10.500  9/28/2018    EUR    74.220
Vontobel Financial Product    6.500  6/22/2018    EUR    70.470
HSBC Trinkaus & Burkhardt    14.700  1/25/2019    EUR    62.830
HSBC Trinkaus & Burkhardt     7.100  1/25/2019    EUR    71.650
HSBC Trinkaus & Burkhardt    17.800  6/22/2018    EUR    61.750
Vontobel Financial Product    9.000  9/28/2018    EUR    74.970
Vontobel Financial Product   13.000  6/22/2018    EUR    73.530
Leonteq Securities AG/Guer   11.200   5/8/2019    CHF    69.090
HSBC Trinkaus & Burkhardt     6.200  6/22/2018    EUR    72.000
HSBC Trinkaus & Burkhardt     4.600  3/22/2019    EUR    69.170
HSBC Trinkaus & Burkhardt     4.200  1/25/2019    EUR    70.770
DZ Bank AG Deutsche Zentra    5.000  9/24/2018    EUR    67.070
Commerzbank AG               11.500  7/27/2018    EUR    37.080
HSBC Trinkaus & Burkhardt    12.900  1/25/2019    EUR    73.010
HSBC Trinkaus & Burkhardt    11.100  1/25/2019    EUR    65.750
HSBC Trinkaus & Burkhardt    13.100  9/28/2018    EUR    61.410
Commerzbank AG                6.000  7/27/2018    EUR    63.210
Vontobel Financial Product   10.000  9/28/2018    EUR    73.400
DZ Bank AG Deutsche Zentra    5.750  6/22/2018    EUR    64.850
Vontobel Financial Product    7.000  6/22/2018    EUR    66.120
Commerzbank AG                5.000   1/2/2019    EUR    62.850
Commerzbank AG               10.500  8/24/2018    EUR    68.290
Commerzbank AG               10.750  9/28/2018    EUR    67.440
DZ Bank AG Deutsche Zentra    7.500   1/2/2019    EUR    65.080
Bank Julius Baer & Co Ltd/   10.200 11/15/2018    CHF    57.850
UniCredit Bank AG             9.400  6/22/2018    EUR    66.040
UniCredit Bank AG            11.400  6/22/2018    EUR    62.940
HSBC Trinkaus & Burkhardt     6.200  9/28/2018    EUR    67.400
HSBC Trinkaus & Burkhardt     4.800  9/28/2018    EUR    68.020
Commerzbank AG                5.750 10/26/2018    EUR    67.520
Commerzbank AG               10.000  7/27/2018    EUR    73.470
Commerzbank AG               12.750 10/26/2018    EUR    71.360
Leonteq Securities AG/Guer   11.000  2/18/2019    CHF    73.820
Vontobel Financial Product    7.000  6/22/2018    EUR    54.210
Vontobel Financial Product   10.500  6/22/2018    EUR    62.650
Vontobel Financial Product    9.500  6/22/2018    EUR    54.090
DZ Bank AG Deutsche Zentra    5.000  6/22/2018    EUR     1.630
UBS AG/London                 3.200  9/27/2018    EUR    73.740
UBS AG/London                 5.600   1/3/2019    EUR    70.600
Vontobel Financial Product    6.000  6/22/2018    EUR    70.740
UBS AG/London                 7.100  3/28/2019    EUR    64.690
UBS AG/London                 7.300   1/3/2019    EUR    67.190
UBS AG/London                 5.000  3/28/2019    EUR    71.140
Vontobel Financial Product   12.000  6/22/2018    EUR    56.220
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    69.710
Vontobel Financial Product    5.000  9/28/2018    EUR    68.660
Vontobel Financial Product    6.000  6/22/2018    EUR    65.680
Vontobel Financial Product    4.000  9/28/2018    EUR    70.370
Vontobel Financial Product    6.500  6/22/2018    EUR    75.000
UniCredit Bank AG             4.400  6/22/2018    EUR    65.650
UniCredit Bank AG            13.600  6/22/2018    EUR    60.120
UniCredit Bank AG            10.500  6/22/2018    EUR    42.810
UniCredit Bank AG             7.500  6/22/2018    EUR    69.480
HSBC Trinkaus & Burkhardt     9.300 12/28/2018    EUR    65.210
Vontobel Financial Product    4.500  6/22/2018    EUR    73.810
HSBC Trinkaus & Burkhardt     7.300 12/28/2018    EUR    66.600
HSBC Trinkaus & Burkhardt     5.100 12/28/2018    EUR    68.850
Vontobel Financial Product   11.000  6/22/2018    EUR    62.250
Vontobel Financial Product    2.000  6/22/2018    EUR    53.830
Vontobel Financial Product    5.500  6/22/2018    EUR    68.580
BNP Paribas Emissions- und    7.000  1/24/2019    EUR    67.040
Vontobel Financial Product    7.500  9/28/2018    EUR    68.560
Landesbank Baden-Wuerttemb    4.500 11/23/2018    EUR    69.430
Deutsche Bank AG             10.000 12/27/2018    EUR    57.700
Raiffeisen Centrobank AG      9.304  9/25/2018    EUR    70.960
Vontobel Financial Product    8.500  9/28/2018    EUR    62.680
Commerzbank AG               12.750  9/28/2018    EUR    72.400
Vontobel Financial Product    7.000  9/28/2018    EUR    74.200
Vontobel Financial Product    4.000  6/22/2018    EUR    69.420
Vontobel Financial Product    5.000  6/22/2018    EUR    67.500
UniCredit Bank AG             3.200  6/22/2018    EUR    72.920
BNP Paribas Emissions- und   11.000 12/31/2018    EUR    74.970
UniCredit Bank AG             4.200  6/22/2018    EUR    59.130
UniCredit Bank AG             5.800  6/22/2018    EUR    73.300
UniCredit Bank AG             5.300  6/22/2018    EUR    54.930
HSBC Trinkaus & Burkhardt     3.200  9/28/2018    EUR    72.740
HSBC Trinkaus & Burkhardt     4.300 10/26/2018    EUR    70.090
DZ Bank AG Deutsche Zentra    8.250  9/24/2018    EUR    58.570
DZ Bank AG Deutsche Zentra    6.750  9/24/2018    EUR    58.220
HSBC Trinkaus & Burkhardt     7.000  1/25/2019    EUR    66.900
Deutsche Bank AG              6.200  7/25/2018    EUR    63.700
Deutsche Bank AG              6.200  8/22/2018    EUR    66.300
Deutsche Bank AG              6.200 10/24/2018    EUR    69.600
Deutsche Bank AG              6.200 10/24/2018    EUR    63.100
Deutsche Bank AG              2.700  9/25/2018    EUR    68.300
Deutsche Bank AG              2.700 12/27/2018    EUR    68.700
Deutsche Bank AG              2.700 12/27/2018    EUR    60.500
UBS AG/London                 9.300   1/3/2019    EUR    64.300
Vontobel Financial Product    5.000  6/22/2018    EUR    73.450
Vontobel Financial Product    6.500  6/22/2018    EUR    68.220
EFG International Finance     8.400  8/23/2018    USD    55.130
Vontobel Financial Product    7.500  6/22/2018    EUR    65.870
Vontobel Financial Product    8.500  6/22/2018    EUR    64.000
Commerzbank AG               23.500  8/24/2018    EUR    57.060
Vontobel Financial Product    6.550  9/28/2018    EUR    65.420
UniCredit Bank AG             6.100  6/22/2018    EUR    59.700
UniCredit Bank AG            14.200  6/22/2018    EUR    70.310
UniCredit Bank AG            13.100  6/22/2018    EUR    47.030
Vontobel Financial Product    7.500  8/24/2018    EUR    68.260
HSBC Trinkaus & Burkhardt    11.800  6/22/2018    EUR    40.670
HSBC Trinkaus & Burkhardt     6.300  6/22/2018    EUR    51.400
HSBC Trinkaus & Burkhardt     9.800  6/22/2018    EUR    69.610
Raiffeisen Schweiz Genosse    6.000   5/9/2019    CHF    74.720
Commerzbank AG               25.000  7/27/2018    EUR    56.290
Deutsche Bank AG              5.500  9/25/2018    EUR    69.000
Deutsche Bank AG              5.500  9/25/2018    EUR    64.500
DZ Bank AG Deutsche Zentra    6.900  9/24/2018    EUR    67.640
UniCredit Bank AG            14.300  6/22/2018    EUR    55.780
Vontobel Financial Product   12.000  6/22/2018    EUR    74.930
Deutsche Bank AG              6.200 10/24/2018    EUR    69.100
Commerzbank AG               16.000  7/27/2018    EUR    70.060
Commerzbank AG               13.750  9/28/2018    EUR    72.400
Commerzbank AG                5.250 11/23/2018    EUR    69.890
Deutsche Bank AG              5.500 12/27/2018    EUR    70.700
Deutsche Bank AG              6.200  8/22/2018    EUR    62.100
Deutsche Bank AG              6.200 10/24/2018    EUR    61.200
Vontobel Financial Product   14.000  6/22/2018    EUR    56.360
Vontobel Financial Product   11.000  6/22/2018    EUR    63.300
Commerzbank AG                8.750  7/27/2018    EUR    68.630
Commerzbank AG               10.750  7/27/2018    EUR    63.050
Commerzbank AG               11.750  7/27/2018    EUR    61.460
Commerzbank AG                3.750  7/27/2018    EUR    60.570
Commerzbank AG                5.750  7/27/2018    EUR    50.920
Vontobel Financial Product   10.500  7/27/2018    EUR    60.130
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    62.570
Goldman Sachs & Co Wertpap   21.000  7/25/2018    EUR    65.290
Goldman Sachs & Co Wertpap   16.000 12/28/2018    EUR    71.500
Goldman Sachs & Co Wertpap   19.000  7/25/2018    EUR    70.060
Goldman Sachs & Co Wertpap   25.000  7/25/2018    EUR    64.730
Goldman Sachs & Co Wertpap   18.000  8/22/2018    EUR    71.250
Goldman Sachs & Co Wertpap   24.000  8/22/2018    EUR    66.430
Goldman Sachs & Co Wertpap   20.000  7/25/2018    EUR    70.710
Goldman Sachs & Co Wertpap   19.000  8/22/2018    EUR    72.210
Leonteq Securities AG/Guer   11.000 11/26/2018    EUR    60.890
Vontobel Financial Product   12.700  9/14/2018    EUR    60.160
DZ Bank AG Deutsche Zentra    5.600  6/22/2018    EUR    65.960
Commerzbank AG               11.250 10/26/2018    EUR    70.340
Bank Julius Baer & Co Ltd/    7.000   8/3/2018    CHF    50.350
Deutsche Bank AG              4.200  9/25/2018    EUR    56.800
Deutsche Bank AG              4.200  9/25/2018    EUR    53.700
Vontobel Financial Product   12.950  9/21/2018    EUR    68.940
DZ Bank AG Deutsche Zentra    7.500  6/22/2018    EUR    71.140
DZ Bank AG Deutsche Zentra    6.700  6/22/2018    EUR    62.910
Vontobel Financial Product   12.000 12/14/2018    EUR    70.450
DZ Bank AG Deutsche Zentra    4.600  6/22/2018    EUR    65.330
Vontobel Financial Product    9.500   1/2/2019    EUR    62.140
Bank Julius Baer & Co Ltd/   10.200  2/19/2019    USD    66.350
Commerzbank AG               10.000 11/23/2018    EUR    71.950
Vontobel Financial Product    8.500  6/22/2018    EUR    73.050
UniCredit Bank AG            12.600  6/22/2018    EUR    70.820
UniCredit Bank AG            13.700  6/22/2018    EUR    69.190
UniCredit Bank AG            14.900  6/22/2018    EUR    70.910
UniCredit Bank AG            14.100  6/22/2018    EUR    72.250
UniCredit Bank AG             4.900  6/22/2018    EUR    70.720
UniCredit Bank AG            11.000  6/22/2018    EUR    58.900
UniCredit Bank AG            14.400  6/22/2018    EUR    68.880
UniCredit Bank AG            14.500  6/22/2018    EUR    54.250
UniCredit Bank AG             4.800  6/22/2018    EUR    56.950
UniCredit Bank AG            12.200  6/22/2018    EUR    41.700
UniCredit Bank AG             7.600  6/22/2018    EUR    67.700
UniCredit Bank AG             5.600  6/22/2018    EUR    62.540
UniCredit Bank AG            13.000  6/22/2018    EUR    70.380
UniCredit Bank AG            11.800  6/22/2018    EUR    71.850
UniCredit Bank AG            14.900  6/22/2018    EUR    69.360
UniCredit Bank AG             9.900  6/22/2018    EUR    52.600
Vontobel Financial Product    9.500  6/22/2018    EUR    73.830
HSBC Trinkaus & Burkhardt    12.300  9/28/2018    EUR    37.270
HSBC Trinkaus & Burkhardt    11.100  9/28/2018    EUR    38.700
UBS AG/London                17.000  6/28/2018    EUR    53.700
HSBC Trinkaus & Burkhardt     8.800  9/28/2018    EUR    71.860
Vontobel Financial Product    9.250  9/14/2018    EUR    74.520
HSBC Trinkaus & Burkhardt     9.600  9/28/2018    EUR    60.040
DZ Bank AG Deutsche Zentra   10.750  6/22/2018    EUR    64.700
First Mortgage Co Universa    6.500 12/12/2019    USD    25.044
Deutsche Bank AG              6.200  9/25/2018    EUR    60.800
Deutsche Bank AG              6.200  9/25/2018    EUR    57.300
Deutsche Bank AG              4.200 12/27/2018    EUR    61.300
Vontobel Financial Product   14.700  9/14/2018    EUR    74.380
Landesbank Baden-Wuerttemb    6.000  1/24/2020    EUR    70.890
HSBC Trinkaus & Burkhardt     7.600  6/22/2018    EUR    48.210
Deutsche Bank AG              4.200 12/27/2018    EUR    54.700
Deutsche Bank AG              6.200  9/25/2018    EUR    54.200
Leonteq Securities AG/Guer   10.000   1/3/2020    CHF    71.920
Vontobel Financial Product   13.600 12/14/2018    EUR    60.380
DZ Bank AG Deutsche Zentra    7.700  6/22/2018    EUR    60.000
DZ Bank AG Deutsche Zentra    4.800  6/22/2018    EUR    71.900
HSBC Trinkaus & Burkhardt     6.200 12/28/2018    EUR    68.460
HSBC Trinkaus & Burkhardt     6.400  8/24/2018    EUR    66.520
HSBC Trinkaus & Burkhardt     5.800  9/28/2018    EUR    49.620
HSBC Trinkaus & Burkhardt     9.000  8/24/2018    EUR    42.540
HSBC Trinkaus & Burkhardt     8.800  9/28/2018    EUR    70.540
UBS AG/London                11.300  6/28/2018    EUR    60.240
HSBC Trinkaus & Burkhardt     2.800  6/22/2018    EUR    71.800
HSBC Trinkaus & Burkhardt     7.000 12/28/2018    EUR    66.730
Deutsche Bank AG              4.200  9/25/2018    EUR    62.800
Deutsche Bank AG              4.200 12/27/2018    EUR    60.700
Vontobel Financial Product    4.350  9/14/2018    EUR    61.280
HSBC Trinkaus & Burkhardt     6.400  9/28/2018    EUR    63.940
Vontobel Financial Product   13.300  9/14/2018    EUR    68.810
HSBC Trinkaus & Burkhardt     5.300 12/28/2018    EUR    72.660
HSBC Trinkaus & Burkhardt     9.500  6/22/2018    EUR    60.720
EFG International Finance    10.000  8/16/2018    EUR    68.120
Landesbank Baden-Wuerttemb    7.000  6/22/2018    EUR    60.150
EFG International Finance     8.000  5/26/2020    USD    60.510
BNP Paribas Emissions- und    5.500 12/31/2018    EUR    64.890
Deutsche Bank AG              6.200 12/27/2018    EUR    58.800
Deutsche Bank AG              6.200 12/27/2018    EUR    62.300
Vontobel Financial Product   10.700  9/14/2018    EUR    67.110
DZ Bank AG Deutsche Zentra    8.600  6/22/2018    EUR    58.070
Vontobel Financial Product   10.750 12/14/2018    EUR    69.860
UniCredit Bank AG            13.300  6/22/2018    EUR    73.650
UniCredit Bank AG             6.000  6/22/2018    EUR    73.460
UniCredit Bank AG             8.200  6/22/2018    EUR    66.040
UniCredit Bank AG            13.400  6/22/2018    EUR    74.670
UniCredit Bank AG            14.300  6/22/2018    EUR    54.990
UniCredit Bank AG             9.900  6/22/2018    EUR    61.880
UniCredit Bank AG             7.400  6/22/2018    EUR    68.340
DZ Bank AG Deutsche Zentra    4.500  6/22/2018    EUR    74.600
UniCredit Bank AG            14.600  6/22/2018    EUR    74.970
UniCredit Bank AG             9.600  6/22/2018    EUR    75.000
UBS AG/London                 6.300  3/28/2019    EUR    72.150
HSBC Trinkaus & Burkhardt    10.850  6/22/2018    EUR    57.370
HSBC Trinkaus & Burkhardt     4.200 12/28/2018    EUR    73.420
HSBC Trinkaus & Burkhardt     7.800  9/28/2018    EUR    75.030
Commerzbank AG               19.250  1/25/2019    EUR    71.490
DZ Bank AG Deutsche Zentra    9.500  9/26/2018    EUR    65.530
DZ Bank AG Deutsche Zentra    8.750 12/28/2018    EUR    69.850
UniCredit Bank AG             8.500   1/4/2019    EUR    72.630
UniCredit Bank AG            11.100   1/4/2019    EUR    74.530
UniCredit Bank AG            10.500   1/3/2020    EUR    71.450
UniCredit Bank AG            10.700  3/22/2019    EUR    69.170
UniCredit Bank AG             9.700  3/22/2019    EUR    75.690
UniCredit Bank AG            13.400  9/28/2018    EUR    72.210
UniCredit Bank AG             9.500  9/28/2018    EUR    70.890
UniCredit Bank AG             7.400  6/28/2019    EUR    73.140
UniCredit Bank AG            11.300  6/28/2019    EUR    69.920
BNP Paribas Emissions- und   18.000 12/31/2018    EUR    71.150
BNP Paribas Emissions- und   22.000 12/31/2018    EUR    68.410
BNP Paribas Emissions- und   16.000 12/31/2018    EUR    70.710
BNP Paribas Emissions- und   16.000  9/27/2018    EUR    70.910
BNP Paribas Emissions- und   19.000  9/27/2018    EUR    69.840
BNP Paribas Emissions- und   23.000  9/27/2018    EUR    75.470
BNP Paribas Emissions- und   24.000  9/27/2018    EUR    68.670
BNP Paribas Emissions- und   28.000  9/27/2018    EUR    64.700
BNP Paribas Emissions- und   17.000 12/31/2018    EUR    72.050
Citigroup Global Markets F   13.600  1/25/2023    SEK    71.880
Commerzbank AG               15.750  2/22/2019    EUR    70.810
Commerzbank AG               17.750  2/22/2019    EUR    69.040
SG Issuer SA                 11.350  3/26/2019    EUR    66.090
Commerzbank AG               11.000  2/22/2019    EUR    72.660
Vontobel Financial Product    4.500  3/22/2019    EUR    49.820
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    70.600
Vontobel Financial Product   10.000  3/22/2019    EUR    72.690
Vontobel Financial Product   11.000   1/2/2019    EUR    71.250
Vontobel Financial Product   13.000   1/2/2019    EUR    69.930
Vontobel Financial Product   15.050   1/2/2019    EUR    68.770
Vontobel Financial Product   13.000  3/22/2019    EUR    70.460
Vontobel Financial Product   11.550  6/28/2019    EUR    71.570
DZ Bank AG Deutsche Zentra   10.750  3/20/2019    EUR    70.530
DZ Bank AG Deutsche Zentra    7.750  9/26/2018    EUR    72.930
DZ Bank AG Deutsche Zentra    9.250  9/26/2018    EUR    69.640
HSBC Trinkaus & Burkhardt     9.300  6/22/2018    EUR    70.440
Vontobel Financial Product    8.000  6/22/2018    EUR    71.510
Vontobel Financial Product    9.000  6/22/2018    EUR    66.900
Vontobel Financial Product   10.500  6/22/2018    EUR    62.990
Vontobel Financial Product   12.000  6/22/2018    EUR    59.470
Raiffeisen Centrobank AG     11.137 12/25/2018    EUR    22.410
Raiffeisen Centrobank AG      6.216 12/25/2018    EUR    69.260
Raiffeisen Centrobank AG      7.252 12/25/2018    EUR    15.120
Raiffeisen Centrobank AG      8.029 12/25/2018    EUR    69.520
Raiffeisen Centrobank AG      2.321 12/28/2018    EUR    60.550
Raiffeisen Centrobank AG      4.126 12/28/2018    EUR     8.770
Raiffeisen Centrobank AG      9.324 12/25/2018    EUR    19.010
Raiffeisen Centrobank AG      3.868 12/28/2018    EUR    59.940
HSBC Trinkaus & Burkhardt     4.020  7/27/2018    EUR    69.930
HSBC Trinkaus & Burkhardt     5.000  8/24/2018    EUR    71.980
Landesbank Hessen-Thuering    4.350  2/24/2023    EUR    63.010
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    63.090
BNP Paribas Emissions- und    9.500 12/31/2018    EUR    61.060
BNP Paribas Emissions- und    4.500 12/31/2018    EUR    71.580
BNP Paribas Emissions- und    5.000 12/31/2018    EUR    69.890
Vontobel Financial Product    8.000  12/7/2018    EUR    69.700
HSBC Trinkaus & Burkhardt     9.100  6/22/2018    EUR    68.240
DekaBank Deutsche Girozent    3.000 11/30/2018    EUR    74.440
Landesbank Baden-Wuerttemb    9.000  7/27/2018    EUR    67.030
Landesbank Baden-Wuerttemb    4.000  7/27/2018    EUR    73.380
Landesbank Baden-Wuerttemb    4.000  7/27/2018    EUR    72.960
Landesbank Baden-Wuerttemb    5.000  7/27/2018    EUR    70.410
Vontobel Financial Product   14.500  6/22/2018    EUR    72.970
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    70.370
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    62.240
Vontobel Financial Product   10.500  6/22/2018    EUR    73.070
BNP Paribas Emissions- und    4.000 12/31/2018    EUR    60.930
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    61.960
EFG International Finance     8.500  2/27/2019    USD    50.210
Bank Julius Baer & Co Ltd/    9.400 10/11/2018    USD    54.500
EFG International Finance     7.200 10/26/2020    USD    72.850
EFG International Finance    11.000 10/25/2018    CHF    40.960
Raiffeisen Centrobank AG      8.571 12/27/2019    EUR    20.570
Raiffeisen Centrobank AG      6.429 12/27/2019    EUR    16.020
UBS AG/London                12.500 10/11/2018    CHF    57.900
UBS AG/London                 7.000 10/12/2018    USD    53.300
Raiffeisen Switzerland BV    11.400  4/12/2019    CHF    66.880
Leonteq Securities AG/Guer   12.000  1/23/2019    CHF    70.860
HSBC Trinkaus & Burkhardt     4.300 12/28/2018    EUR    44.830
HSBC Trinkaus & Burkhardt     3.100 12/28/2018    EUR    51.810
HSBC Trinkaus & Burkhardt     6.200  6/28/2019    EUR    43.140
HSBC Trinkaus & Burkhardt     4.400  6/28/2019    EUR    49.290
HSBC Trinkaus & Burkhardt     3.700  6/28/2019    EUR    55.090
HSBC Trinkaus & Burkhardt     9.300  6/22/2018    EUR    71.310
HSBC Trinkaus & Burkhardt     6.900  6/22/2018    EUR    71.310
HSBC Trinkaus & Burkhardt     9.200  9/28/2018    EUR    38.940
Raiffeisen Schweiz Genosse   10.000 10/23/2018    CHF    73.060
Credit Suisse AG/London       8.000 10/22/2018    USD    57.240
Bank Julius Baer & Co Ltd/    9.250 10/12/2018    USD    54.900
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    45.390
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    38.290
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    37.140
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    44.010
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    65.890
BNP Paribas Emissions- und   11.000  9/27/2018    EUR    64.910
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    63.390
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    70.160
BNP Paribas Emissions- und   16.000  9/27/2018    EUR    63.250
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    72.150
BNP Paribas Emissions- und    4.500  9/27/2018    EUR    73.100
BNP Paribas Emissions- und    8.000  9/27/2018    EUR    68.710
BNP Paribas Emissions- und    9.500  9/27/2018    EUR    67.050
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    71.810
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    66.470
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    62.320
BNP Paribas Emissions- und   16.000  9/27/2018    EUR    58.860
BNP Paribas Emissions- und    7.500 12/31/2018    EUR    73.170
BNP Paribas Emissions- und   14.000 12/31/2018    EUR    62.040
BNP Paribas Emissions- und    5.000 12/31/2018    EUR    73.360
BNP Paribas Emissions- und    5.500 12/31/2018    EUR    72.110
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    68.420
BNP Paribas Emissions- und    9.500 12/31/2018    EUR    67.440
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    73.400
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    73.410
Commerzbank AG                3.000  7/27/2018    EUR    54.220
Commerzbank AG               17.750  7/27/2018    EUR    73.780
Commerzbank AG               16.750  8/24/2018    EUR    74.640
Zurcher Kantonalbank Finan    5.250 10/24/2018    CHF    60.490
DZ Bank AG Deutsche Zentra    8.250  6/22/2018    EUR    60.850
DZ Bank AG Deutsche Zentra    6.500  6/22/2018    EUR    60.830
DZ Bank AG Deutsche Zentra    6.500  9/28/2018    EUR    63.370
DZ Bank AG Deutsche Zentra    6.750   1/2/2019    EUR    69.230
DZ Bank AG Deutsche Zentra    7.300 10/24/2018    EUR    72.970
DZ Bank AG Deutsche Zentra   10.500   1/2/2019    EUR    72.490
DZ Bank AG Deutsche Zentra    5.500 10/26/2018    EUR     3.870
Credit Suisse AG/Nassau       8.000 10/25/2018    USD    66.260
UniCredit Bank AG            13.000   1/4/2019    EUR    73.960
UniCredit Bank AG            14.000   1/4/2019    EUR    73.170
UniCredit Bank AG            14.500  9/28/2018    EUR    62.910
UniCredit Bank AG            14.900   1/4/2019    EUR    65.490
UniCredit Bank AG            10.300  9/28/2018    EUR    69.450
UniCredit Bank AG            12.600  9/28/2018    EUR    66.560
UniCredit Bank AG            14.900  6/22/2018    EUR    74.240
UniCredit Bank AG            13.300   1/4/2019    EUR    72.280
UniCredit Bank AG            14.900   1/4/2019    EUR    72.350
UniCredit Bank AG            13.200  9/28/2018    EUR    71.950
UniCredit Bank AG            10.600   1/3/2020    EUR    72.230
UniCredit Bank AG            14.500  6/28/2019    EUR    65.860
UniCredit Bank AG            10.400  6/28/2019    EUR    71.500
UniCredit Bank AG            11.000   1/3/2020    EUR    75.340
UniCredit Bank AG            12.400   1/3/2020    EUR    74.580
UniCredit Bank AG            11.800   1/3/2020    EUR    67.540
UniCredit Bank AG             5.000   1/3/2020    EUR    10.550
UniCredit Bank AG             8.900  6/28/2019    EUR    74.850
UniCredit Bank AG            13.700   1/3/2020    EUR    68.670
UniCredit Bank AG            12.200   1/3/2020    EUR    71.900
UniCredit Bank AG            11.600   1/3/2020    EUR    48.070
UniCredit Bank AG             5.800   1/3/2020    EUR    51.760
UniCredit Bank AG             9.600   1/3/2020    EUR    72.240
UniCredit Bank AG             4.300   1/3/2020    EUR    55.010
UniCredit Bank AG            10.800  6/28/2019    EUR    73.010
UniCredit Bank AG             8.900  6/28/2019    EUR    72.230
UniCredit Bank AG            13.300  6/28/2019    EUR    70.160
UniCredit Bank AG            14.200  6/28/2019    EUR    63.480
UniCredit Bank AG             9.900   1/3/2020    EUR    48.250
UniCredit Bank AG            11.600   1/3/2020    EUR    70.560
UniCredit Bank AG             3.100   1/3/2020    EUR    59.960
UniCredit Bank AG            10.200   1/3/2020    EUR    69.430
UniCredit Bank AG             3.400  6/28/2019    EUR    59.770
UniCredit Bank AG             6.300  6/28/2019    EUR    49.670
UniCredit Bank AG            11.300  6/28/2019    EUR    44.620
UniCredit Bank AG             9.200  6/28/2019    EUR    45.930
UniCredit Bank AG             8.700  6/28/2019    EUR    75.060
UniCredit Bank AG            13.100  6/28/2019    EUR    71.760
UniCredit Bank AG            15.000  6/28/2019    EUR    70.560
UniCredit Bank AG            11.900  6/28/2019    EUR    65.560
UniCredit Bank AG             8.700  6/28/2019    EUR    70.530
UniCredit Bank AG            13.200  6/28/2019    EUR    15.390
Landesbank Baden-Wuerttemb    7.000 10/26/2018    EUR    72.430
Vontobel Financial Product    9.000  9/28/2018    EUR    38.860
Vontobel Financial Product   11.000  9/28/2018    EUR    37.540
Vontobel Financial Product   14.550   1/2/2019    EUR    72.390
Vontobel Financial Product   10.000   1/2/2019    EUR    70.290
Vontobel Financial Product   12.500   1/2/2019    EUR    67.440
Vontobel Financial Product    2.500   1/2/2019    EUR    50.750
Vontobel Financial Product    3.000   1/2/2019    EUR    47.940
Vontobel Financial Product    4.000   1/2/2019    EUR    45.440
Vontobel Financial Product    6.000   1/2/2019    EUR    42.770
Vontobel Financial Product    8.000   1/2/2019    EUR    40.680
Vontobel Financial Product    9.550   1/2/2019    EUR    39.650
Bank Julius Baer & Co Ltd/    5.950  1/24/2019    CHF    71.450
Leonteq Securities AG/Guer   10.000  1/30/2019    CHF    58.920
Raiffeisen Schweiz Genosse   10.250 10/30/2018    CHF    57.080
Vontobel Financial Product   14.000  9/28/2018    EUR    71.090
Vontobel Financial Product   10.550 10/26/2018    EUR    70.090
Vontobel Financial Product    8.000 10/26/2018    EUR    70.290
Zurcher Kantonalbank Finan    8.000 10/31/2019    CHF    60.640
Bank Julius Baer & Co Ltd/   10.000 10/24/2018    USD    57.900
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    62.820
BNP Paribas Emissions- und   18.000  9/27/2018    EUR    59.360
BNP Paribas Emissions- und   13.000 12/31/2018    EUR    65.680
Zurcher Kantonalbank Finan    4.500  11/2/2018    CHF    55.040
Credit Suisse AG/London       5.150  12/7/2018    EUR    73.520
Commerzbank AG                1.000  11/2/2020    USD #N/A N/A
UBS AG/London                 7.300  6/22/2018    EUR    70.910
Leonteq Securities AG         9.000  3/27/2020    USD    56.900
HSBC Trinkaus & Burkhardt     8.000  6/22/2018    EUR    67.640
HSBC Trinkaus & Burkhardt     4.800  9/28/2018    EUR    72.570
HSBC Trinkaus & Burkhardt     8.000  6/22/2018    EUR    37.650
HSBC Trinkaus & Burkhardt     5.700  6/22/2018    EUR    42.850
HSBC Trinkaus & Burkhardt    12.000  6/22/2018    EUR    62.240
HSBC Trinkaus & Burkhardt     8.300  9/28/2018    EUR    70.650
HSBC Trinkaus & Burkhardt     7.700  6/22/2018    EUR    64.290
HSBC Trinkaus & Burkhardt     5.800  6/22/2018    EUR    67.860
HSBC Trinkaus & Burkhardt     5.200  6/22/2018    EUR    67.520
HSBC Trinkaus & Burkhardt     3.000  6/22/2018    EUR    74.220
HSBC Trinkaus & Burkhardt    11.700  6/22/2018    EUR    32.220
HSBC Trinkaus & Burkhardt    10.500  6/22/2018    EUR    33.600
Koncessii Teplosnabzheniya    9.250   4/6/2032    RUB    63.000
Vontobel Financial Product   11.500  6/22/2018    EUR    73.080
UniCredit Bank AG             5.200   5/4/2020    USD    54.020
Commerzbank AG               12.500  3/22/2019    EUR    69.640
Commerzbank AG               14.500  3/22/2019    EUR    67.530
Leonteq Securities AG/Guer   18.000   4/9/2019    USD    60.610
HSBC Trinkaus & Burkhardt     9.200  1/25/2019    EUR    70.280
Credit Suisse AG/London      11.900  3/31/2020    USD    10.130
Goldman Sachs & Co Wertpap   12.000 12/28/2018    EUR    72.990
Landesbank Hessen-Thuering    4.000  2/17/2021    EUR    67.340
DekaBank Deutsche Girozent    3.100  1/10/2020    EUR    65.530
Commerzbank AG               13.750 10/26/2018    EUR    67.380
Vontobel Financial Product    9.050   3/8/2019    EUR    71.040
Vontobel Financial Product   10.200   3/8/2019    EUR    59.480
EFG International Finance     7.400  9/13/2019    USD    60.910
Raiffeisen Schweiz Genosse    7.780  8/31/2018    USD    54.340
HSBC Trinkaus & Burkhardt     3.400  6/22/2018    EUR    57.060
HSBC Trinkaus & Burkhardt     8.700 12/28/2018    EUR    44.280
HSBC Trinkaus & Burkhardt     7.600 10/26/2018    EUR    44.850
Bank Julius Baer & Co Ltd/   11.500 10/10/2018    USD    54.400
HSBC Trinkaus & Burkhardt     6.300  3/22/2019    EUR    65.390
HSBC Trinkaus & Burkhardt     2.400  6/28/2019    EUR    73.270
UBS AG/London                 5.600  3/21/2019    EUR    71.610
UBS AG/London                 5.900   1/3/2019    EUR    70.850
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    35.420
Leonteq Securities AG/Guer   10.200 10/24/2018    USD    52.660
Deutsche Bank AG              6.200  9/25/2018    EUR    74.100
UBS AG/London                 6.300  9/26/2019    EUR    73.900
Commerzbank AG               14.000  6/22/2018    EUR    38.450
Deutsche Bank AG              4.200  9/25/2018    EUR    71.100
Deutsche Bank AG              3.200  9/25/2018    EUR    66.100
Deutsche Bank AG              3.200 12/27/2018    EUR    71.400
BNP Paribas Emissions- und    3.500  9/27/2018    EUR    73.760
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    34.390
Deutsche Bank AG              4.200 12/27/2018    EUR    67.300
UBS AG/London                 7.800  3/28/2019    EUR    69.110
Goldman Sachs & Co Wertpap   19.000  7/25/2018    EUR    70.750
Vontobel Financial Product   14.550  6/22/2018    EUR    72.880
Deutsche Bank AG              3.200 12/27/2018    EUR    64.600
UBS AG/London                12.900   1/3/2019    EUR    66.230
UBS AG/London                 5.900  3/28/2019    EUR    71.830
Deutsche Bank AG              4.200  9/25/2018    EUR    64.200
Commerzbank AG                5.000 12/21/2018    EUR    67.190
HSBC Trinkaus & Burkhardt     5.800  9/28/2018    EUR    48.020
BNP Paribas Emissions- und    7.400  7/26/2018    EUR    58.640
UBS AG/London                 6.400  6/27/2019    EUR    72.780
UBS AG/London                 9.200   1/3/2019    EUR    68.490
Zurcher Kantonalbank Finan    7.500   7/6/2018    CHF    54.640
Commerzbank AG               11.250 11/23/2018    EUR    70.500
HSBC Trinkaus & Burkhardt     3.000  6/22/2018    EUR    66.500
HSBC Trinkaus & Burkhardt    12.200  9/28/2018    EUR    38.090
HSBC Trinkaus & Burkhardt     7.400 12/28/2018    EUR    71.280
HSBC Trinkaus & Burkhardt     5.600  9/28/2018    EUR    67.180
DekaBank Deutsche Girozent    3.000  6/27/2018    EUR    32.760
Raiffeisen Centrobank AG      7.930 12/27/2019    EUR    73.250
Goldman Sachs & Co Wertpap   17.000  9/26/2018    EUR    71.220
Deutsche Bank AG              4.200 12/27/2018    EUR    65.100
Deutsche Bank AG              4.200 12/27/2018    EUR    71.900
BNP Paribas Emissions- und    9.500 12/31/2018    EUR    67.400
UBS AG/London                 8.000  6/22/2018    EUR    64.210
Landesbank Baden-Wuerttemb    4.000   1/4/2019    EUR    74.500
Landesbank Baden-Wuerttemb    5.000   1/4/2019    EUR    71.260
UniCredit Bank AG             6.900   1/4/2019    EUR    74.000
Landesbank Baden-Wuerttemb    3.000  2/22/2019    EUR    73.220
Landesbank Baden-Wuerttemb    4.000  2/22/2019    EUR    69.990
Deutsche Bank AG              5.200  7/25/2018    EUR    68.100
Vontobel Financial Product   10.000  3/27/2019    EUR    71.010
Deutsche Bank AG              5.200  7/25/2018    EUR    73.900
Deutsche Bank AG              5.200  7/25/2018    EUR    67.600
UBS AG/London                 7.700  6/22/2018    EUR    67.700
UniCredit Bank AG             8.400   1/4/2019    EUR    67.610
UniCredit Bank AG             7.700   1/4/2019    EUR    69.370
Vontobel Financial Product    6.000  9/28/2018    EUR    56.230
UBS AG/London                 8.300  6/22/2018    EUR    32.270
HSBC Trinkaus & Burkhardt     5.000  6/22/2018    EUR    60.340
Bank J Safra Sarasin AG/Gu   12.100   7/6/2018    CHF    52.010
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    64.110
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    74.040
Raiffeisen Schweiz Genosse    8.800   7/3/2018    CHF    60.900
BNP Paribas Emissions- und   12.000 12/31/2018    EUR    59.300
DZ Bank AG Deutsche Zentra    5.600  6/22/2018    EUR    68.410
HSBC Trinkaus & Burkhardt     6.500 12/28/2018    EUR    73.710
Raiffeisen Schweiz Genosse   10.000  10/3/2018    CHF    68.540
Vontobel Financial Product    5.500  6/22/2018    EUR    72.730
UBS AG/London                 6.900  6/22/2018    EUR    59.040
UBS AG/London                10.100  6/22/2018    EUR    64.140
Vontobel Financial Product    8.000  6/22/2018    EUR    71.330
Vontobel Financial Product    9.500  6/22/2018    EUR    67.230
Vontobel Financial Product   12.500  6/22/2018    EUR    59.460
UniCredit Bank AG            10.800  6/22/2018    EUR    63.240
Vontobel Financial Product    8.000  8/24/2018    EUR    62.410
Vontobel Financial Product    6.500  9/28/2018    EUR    69.260
Vontobel Financial Product   10.500  6/22/2018    EUR    61.650
Vontobel Financial Product    5.500  7/27/2018    EUR    73.420
UniCredit Bank AG             7.300   1/4/2019    EUR    70.500
Vontobel Financial Product    9.550   1/2/2019    EUR    64.020
UniCredit Bank AG             8.400   1/4/2019    EUR    47.920
UniCredit Bank AG            10.500   1/4/2019    EUR    68.950
UniCredit Bank AG            11.800   1/4/2019    EUR    66.590
Goldman Sachs & Co Wertpap   10.000  3/20/2019    EUR    63.130
UniCredit Bank AG             9.400  6/22/2018    EUR    66.080
Landesbank Hessen-Thuering    3.300  7/13/2018    EUR    67.700
UniCredit Bank AG             8.100  6/22/2018    EUR    69.200
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    69.520
BNP Paribas Emissions- und    8.000  9/27/2018    EUR    65.280
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    70.720
BNP Paribas Emissions- und    6.000  9/27/2018    EUR    71.990
BNP Paribas Emissions- und    6.500  9/27/2018    EUR    70.600
Vontobel Financial Product    6.000  9/28/2018    EUR    71.630
Vontobel Financial Product    7.500  9/28/2018    EUR    67.190
Vontobel Financial Product    7.000  7/27/2018    EUR    68.340
Vontobel Financial Product    9.000  7/27/2018    EUR    63.990
UniCredit Bank AG             6.800   1/4/2019    EUR    71.060
UniCredit Bank AG            10.100   1/4/2019    EUR    69.250
DZ Bank AG Deutsche Zentra    7.750  7/27/2018    EUR    42.390
Goldman Sachs & Co Wertpap   16.000  9/26/2018    EUR    70.910
Vontobel Financial Product    5.500  6/22/2018    EUR    73.470
UniCredit Bank AG            12.200   1/4/2019    EUR    60.720
UniCredit Bank AG            11.400   1/4/2019    EUR    61.860
UniCredit Bank AG            12.200   1/4/2019    EUR    65.550
DZ Bank AG Deutsche Zentra    8.250  9/28/2018    EUR    56.740
Vontobel Financial Product   14.500  6/22/2018    EUR    66.700
Vontobel Financial Product   10.500  9/28/2018    EUR    61.800
Vontobel Financial Product   11.500  7/27/2018    EUR    60.250
Vontobel Financial Product    6.500  6/22/2018    EUR    70.750
UniCredit Bank AG             9.000   1/4/2019    EUR    66.020
Goldman Sachs & Co Wertpap    6.000 12/28/2018    EUR    73.200
Goldman Sachs & Co Wertpap    7.000  3/20/2019    EUR    71.160
Bank Julius Baer & Co Ltd/    9.400  7/27/2018    EUR    69.900
Landesbank Baden-Wuerttemb    7.000  6/28/2019    EUR    73.250
UniCredit Bank AG             8.200   1/4/2019    EUR    73.810
Vontobel Financial Product    8.500  9/28/2018    EUR    65.260
Vontobel Financial Product   11.500  9/28/2018    EUR    60.280
Vontobel Financial Product   12.500  9/28/2018    EUR    58.870
Vontobel Financial Product    9.500  6/22/2018    EUR    63.700
Vontobel Financial Product   13.500  6/22/2018    EUR    57.940
UniCredit Bank AG             8.600   1/4/2019    EUR    68.310
Vontobel Financial Product    8.000   1/2/2019    EUR    67.120
UniCredit Bank AG             6.000   1/4/2019    EUR    52.680
UniCredit Bank AG             8.400   1/4/2019    EUR    71.110
DZ Bank AG Deutsche Zentra    5.250  9/28/2018    EUR    68.320
UniCredit Bank AG             9.200   1/4/2019    EUR    71.420
UniCredit Bank AG            12.400  6/22/2018    EUR    60.640
UniCredit Bank AG            14.000  6/22/2018    EUR    58.250
Landesbank Baden-Wuerttemb    2.000  6/28/2019    EUR    72.840
Landesbank Baden-Wuerttemb    4.000  6/28/2019    EUR    66.250
UBS AG/London                 9.400  6/22/2018    EUR    53.300
DZ Bank AG Deutsche Zentra    8.250  9/28/2018    EUR    54.900
Zurcher Kantonalbank Finan    3.000  7/22/2019    CHF    54.920
Deutsche Bank AG              7.200 12/27/2018    EUR    65.300
Deutsche Bank AG              5.200  9/25/2018    EUR    64.400
Deutsche Bank AG              5.200  7/25/2018    EUR    73.900
DZ Bank AG Deutsche Zentra    8.500  6/22/2018    EUR    61.830
Commerzbank AG               17.250  8/24/2018    EUR    70.930
Deutsche Bank AG              5.200  9/25/2018    EUR    67.700
Deutsche Bank AG              5.200 12/27/2018    EUR    68.500
Commerzbank AG               14.250  8/24/2018    EUR    69.020
Commerzbank AG               10.750  9/28/2018    EUR    72.290
Commerzbank AG               13.000 11/23/2018    EUR    70.630
DZ Bank AG Deutsche Zentra    4.750  9/24/2018    EUR    54.820
Commerzbank AG               16.250  8/24/2018    EUR    67.740
Commerzbank AG               14.750  9/28/2018    EUR    68.990
Vontobel Financial Product    9.000  6/22/2018    EUR    67.470
Vontobel Financial Product    3.000   1/2/2019    EUR    56.690
Vontobel Financial Product    4.000  6/22/2018    EUR    55.010
Vontobel Financial Product    9.500  6/22/2018    EUR    44.040
Vontobel Financial Product   14.500  6/22/2018    EUR    38.520
Zurcher Kantonalbank Finan    6.000  1/17/2019    USD    54.290
DZ Bank AG Deutsche Zentra    6.100  9/24/2018    EUR    61.590
Vontobel Financial Product    7.500  9/28/2018    EUR    68.380
Vontobel Financial Product    7.000  6/22/2018    EUR    70.520
DZ Bank AG Deutsche Zentra    5.750  6/22/2018    EUR    70.540
DZ Bank AG Deutsche Zentra    8.500  6/22/2018    EUR    70.700
DZ Bank AG Deutsche Zentra    9.500  6/22/2018    EUR    41.360
DZ Bank AG Deutsche Zentra    6.250  9/24/2018    EUR    71.850
Vontobel Financial Product   10.500  9/28/2018    EUR    63.600
Zurcher Kantonalbank Finan    6.750  8/20/2018    USD    45.350
Leonteq Securities AG/Guer    7.000  6/19/2019    USD    52.170
Commerzbank AG               14.750  8/24/2018    EUR    69.910
Vontobel Financial Product    7.000  7/27/2018    EUR    59.680
Vontobel Financial Product    5.500  9/28/2018    EUR    47.700
Vontobel Financial Product    8.500   1/2/2019    EUR    44.070
Vontobel Financial Product    6.500  6/22/2018    EUR    48.140
Vontobel Financial Product   12.500  6/22/2018    EUR    40.530
Vontobel Financial Product   11.000  2/22/2019    EUR    74.020
DZ Bank AG Deutsche Zentra   10.250  6/22/2018    EUR    55.100
Commerzbank AG               12.750  9/28/2018    EUR    70.470
Commerzbank AG               11.750 10/26/2018    EUR    71.520
Commerzbank AG               11.000 11/23/2018    EUR    72.370
Commerzbank AG               12.250  8/24/2018    EUR    70.790
Commerzbank AG               13.750 10/26/2018    EUR    69.910
Vontobel Financial Product    9.000  6/22/2018    EUR    61.970
Vontobel Financial Product   13.500  6/22/2018    EUR    59.200
DZ Bank AG Deutsche Zentra    8.750  6/22/2018    EUR    62.780
Vontobel Financial Product    5.500   1/2/2019    EUR    49.040
Vontobel Financial Product   15.500   1/2/2019    EUR    38.860
Vontobel Financial Product    2.500  6/22/2018    EUR    61.600
DZ Bank AG Deutsche Zentra    8.500  9/28/2018    EUR    58.750
DZ Bank AG Deutsche Zentra   11.000  6/22/2018    EUR    63.730
Vontobel Financial Product   11.000  7/27/2018    EUR    58.130
Vontobel Financial Product    5.000  6/22/2018    EUR    51.340
Vontobel Financial Product    2.550  9/28/2018    EUR    56.000
DZ Bank AG Deutsche Zentra    6.750  7/27/2018    EUR    71.420
Vontobel Financial Product    9.000  9/28/2018    EUR    42.000
DZ Bank AG Deutsche Zentra   11.750  6/22/2018    EUR    73.530
DZ Bank AG Deutsche Zentra   11.000  7/27/2018    EUR    64.690
Commerzbank AG                7.500  6/22/2018    EUR    63.310
EFG International Finance     7.400  6/28/2019    USD    52.720
DZ Bank AG Deutsche Zentra    5.900  9/24/2018    EUR    68.980
Bank J Safra Sarasin AG/Gu   11.000  7/10/2018    CHF    72.010
UniCredit Bank AG             7.100   1/4/2019    EUR    50.050
HSBC Trinkaus & Burkhardt    13.100 12/28/2018    EUR    71.760
UniCredit Bank AG            10.000   1/4/2019    EUR    65.900
Vontobel Financial Product   10.000  6/22/2018    EUR    61.430
UniCredit Bank AG             8.400   1/4/2019    EUR    68.320
UniCredit Bank AG             5.300   1/4/2019    EUR    74.260
BNP Paribas Emissions- und    7.500 12/31/2018    EUR    68.950
Vontobel Financial Product    8.000   8/7/2019    EUR    72.870
Landesbank Baden-Wuerttemb    4.500   1/4/2019    EUR    71.740
UniCredit Bank AG            10.900   1/4/2019    EUR    64.890
BNP Paribas Emissions- und    5.500  9/27/2018    EUR    73.460
UBS AG/London                 9.500  7/26/2018    EUR    59.350
UniCredit Bank AG             6.400   1/4/2019    EUR    73.350
UniCredit Bank AG             9.800   1/4/2019    EUR    64.480
UniCredit Bank AG            10.900   1/4/2019    EUR    64.050
UniCredit Bank AG            12.100   1/4/2019    EUR    73.720
UniCredit Bank AG            10.000   1/4/2019    EUR    63.280
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    65.740
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    61.860
Raiffeisen Centrobank AG      5.470  6/25/2019    EUR    71.010
HSBC Trinkaus & Burkhardt    16.800  9/28/2018    EUR    67.470
UniCredit Bank AG            10.800   1/4/2019    EUR    75.260
UniCredit Bank AG             9.200   1/4/2019    EUR    67.060
Vontobel Financial Product   11.000  6/22/2018    EUR    56.400
UniCredit Bank AG             7.200   1/4/2019    EUR    68.300
BNP Paribas Emissions- und   13.000 12/31/2018    EUR    41.710
UniCredit Bank AG            11.200   1/4/2019    EUR    67.340
Raiffeisen Centrobank AG      8.329  6/25/2019    EUR    18.310
BNP Paribas Emissions- und    8.500  9/27/2018    EUR    66.910
UniCredit Bank AG             7.300   1/4/2019    EUR    76.380
Vontobel Financial Product    9.500  9/28/2018    EUR    63.470
Vontobel Financial Product    8.500  6/22/2018    EUR    65.890
Vontobel Financial Product   13.000   1/2/2019    EUR    59.250
Vontobel Financial Product    6.500   1/2/2019    EUR    70.750
UniCredit Bank AG            11.500   1/4/2019    EUR    64.770
UniCredit Bank AG            10.600   1/4/2019    EUR    63.110
UniCredit Bank AG            11.600   1/4/2019    EUR    66.460
UniCredit Bank AG             6.000   1/4/2019    EUR    72.580
UniCredit Bank AG            11.800   1/4/2019    EUR    63.930
DZ Bank AG Deutsche Zentra    5.000  7/27/2018    EUR    64.630
DZ Bank AG Deutsche Zentra    5.250  7/27/2018    EUR     2.010
UniCredit Bank AG            10.000   1/4/2019    EUR    68.630
UniCredit Bank AG             4.900   1/4/2019    EUR    55.750
UniCredit Bank AG             9.800   1/4/2019    EUR    46.150
UniCredit Bank AG             7.500   1/4/2019    EUR    69.590
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    71.940
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    67.250
Raiffeisen Centrobank AG      6.837  6/25/2019    EUR    14.960
Raiffeisen Centrobank AG      8.826  6/25/2019    EUR    18.830
BNP Paribas Emissions- und    9.500  9/27/2018    EUR    71.590
Commerzbank AG               18.250  9/28/2018    EUR    70.230
UniCredit Bank AG             7.000   1/4/2019    EUR    71.260
Landesbank Baden-Wuerttemb    7.500   1/4/2019    EUR    73.990
DZ Bank AG Deutsche Zentra    8.500  7/27/2018    EUR    67.890
UniCredit Bank AG             5.500   1/4/2019    EUR    70.980
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    65.930
Vontobel Financial Product   15.000  6/22/2018    EUR    66.970
Vontobel Financial Product   12.000  6/22/2018    EUR    59.680
Vontobel Financial Product   15.050  6/22/2018    EUR    56.250
Vontobel Financial Product    7.500  6/22/2018    EUR    68.230
Vontobel Financial Product   14.000  7/27/2018    EUR    56.970
UniCredit Bank AG             6.000   1/4/2019    EUR    72.950
UniCredit Bank AG            10.100   1/4/2019    EUR    66.460
Vontobel Financial Product   11.000   1/2/2019    EUR    61.300
DZ Bank AG Deutsche Zentra    6.000  9/28/2018    EUR    71.730
DZ Bank AG Deutsche Zentra    8.750  6/22/2018    EUR    56.040
DZ Bank AG Deutsche Zentra    6.250  9/28/2018    EUR    64.170
UniCredit Bank AG            11.200   1/4/2019    EUR    44.620
Vontobel Financial Product    7.550  6/22/2018    EUR    57.720
DZ Bank AG Deutsche Zentra    5.000  7/27/2018    EUR     1.960
HSBC Trinkaus & Burkhardt     4.500 12/28/2018    EUR    59.910
HSBC Trinkaus & Burkhardt     4.500 12/28/2018    EUR    59.700
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    70.910
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    62.370
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    71.620
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    67.770
UBS AG/London                 6.500  7/19/2018    EUR    72.300
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    65.240
BNP Paribas Emissions- und    8.000  9/27/2018    EUR    42.070
Raiffeisen Centrobank AG     10.573 12/28/2018    EUR    68.860
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    65.790
BNP Paribas Emissions- und    6.000  9/27/2018    EUR    68.750
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    36.500
Raiffeisen Centrobank AG     12.454 12/28/2018    EUR    66.600
BNP Paribas Emissions- und    5.000 12/31/2018    EUR    70.970
HSBC Trinkaus & Burkhardt     7.300  6/22/2018    EUR    64.780
HSBC Trinkaus & Burkhardt    11.000  6/22/2018    EUR    60.770
HSBC Trinkaus & Burkhardt     7.900 12/28/2018    EUR    63.000
Vontobel Financial Product    6.500   1/2/2019    EUR    72.480
Bank Julius Baer & Co Ltd/    6.450  7/13/2018    USD    59.500
Landesbank Baden-Wuerttemb    4.550 11/23/2018    EUR    63.660
BNP Paribas Emissions- und    8.500 12/31/2018    EUR    69.840
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    65.030
BNP Paribas Emissions- und    6.000  9/27/2018    EUR    68.530
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    69.660
DZ Bank AG Deutsche Zentra    5.200  9/28/2018    EUR    71.980
Vontobel Financial Product    9.500  9/28/2018    EUR    57.130
Vontobel Financial Product    4.500  6/22/2018    EUR    57.700
BNP Paribas Emissions- und   11.000  9/27/2018    EUR    58.630
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    71.210
DZ Bank AG Deutsche Zentra    6.500  9/24/2018    EUR    58.090
HSBC Trinkaus & Burkhardt     6.200 12/28/2018    EUR    69.840
Leonteq Securities AG/Guer   18.000   2/4/2019    CHF    61.870
BNP Paribas Emissions- und    7.500 12/31/2018    EUR    66.020
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    42.560
Landesbank Hessen-Thuering    5.000  2/11/2019    EUR    72.700
UBS AG/London                16.400  6/28/2018    EUR    56.820
Bank Julius Baer & Co Ltd/    9.100   8/6/2018    USD    47.350
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    71.430
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    70.510
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    39.960
UBS AG/London                 4.300  9/27/2018    EUR    70.550
BNP Paribas Emissions- und    6.500 12/31/2018    EUR    68.610
HSBC Trinkaus & Burkhardt     8.900  6/22/2018    EUR    66.200
BNP Paribas Emissions- und    5.000  9/27/2018    EUR    70.190
Commerzbank AG                4.000   7/6/2018    EUR    29.980
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    69.510
BNP Paribas Emissions- und    5.500  9/27/2018    EUR    71.620
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    66.460
BNP Paribas Emissions- und    8.500 12/31/2018    EUR    66.430
BNP Paribas Emissions- und   11.000 12/31/2018    EUR    61.580
HSBC Trinkaus & Burkhardt     8.300  6/22/2018    EUR    60.810
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    61.600
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    70.630
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    66.750
BNP Paribas Emissions- und    7.500 12/31/2018    EUR    69.330
DZ Bank AG Deutsche Zentra    8.750  6/22/2018    EUR    58.070
DZ Bank AG Deutsche Zentra    6.400  9/24/2018    EUR    70.800
Landesbank Baden-Wuerttemb    6.000  7/27/2018    EUR    68.100
Landesbank Baden-Wuerttemb    4.000  7/27/2018    EUR    65.970
DZ Bank AG Deutsche Zentra    7.500  9/24/2018    EUR    71.780
Vontobel Financial Product   10.500  7/27/2018    EUR    57.270
Vontobel Financial Product    9.750  9/14/2018    EUR    71.510
Landesbank Hessen-Thuering    2.250  7/13/2020    EUR    66.600
Vontobel Financial Product   10.350  9/14/2018    EUR    74.920
Vontobel Financial Product    6.750  9/14/2018    EUR    53.950
Credit Suisse AG/Nassau       7.000  9/24/2018    EUR    66.200
Vontobel Financial Product    7.050   1/2/2019    EUR    70.940
Vontobel Financial Product    8.000  9/28/2018    EUR    69.460
Vontobel Financial Product    9.000  9/28/2018    EUR    69.720
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    68.450
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    61.970
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    60.260
Vontobel Financial Product    4.850  9/14/2018    EUR    70.690
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    63.590
BNP Paribas Emissions- und    6.500  9/27/2018    EUR    66.400
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    39.200
Deutsche Bank AG              5.200  9/25/2018    EUR    64.500
Deutsche Bank AG              5.200  9/25/2018    EUR    69.600
Landesbank Baden-Wuerttemb    6.000  7/27/2018    EUR    63.610
BNP Paribas Emissions- und    8.500  9/27/2018    EUR    64.110
Deutsche Bank AG              5.200  9/25/2018    EUR    74.000
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    71.480
UBS AG/London                 8.500  7/19/2018    CHF    57.250
Raiffeisen Centrobank AG     11.676 12/28/2018    EUR    67.880
Vontobel Financial Product   10.000  6/22/2018    EUR    72.530
Vontobel Financial Product    5.500  9/28/2018    EUR    68.820
Vontobel Financial Product    6.550  9/28/2018    EUR    69.090
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    63.660
Vontobel Financial Product    9.000  8/24/2018    EUR    69.920
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    65.130
Commerzbank AG               14.250  8/24/2018    EUR    73.660
Commerzbank AG               15.750  9/28/2018    EUR    72.510
Commerzbank AG               20.000  9/28/2018    EUR    67.100
Landesbank Baden-Wuerttemb    6.000  7/27/2018    EUR    66.930
Landesbank Baden-Wuerttemb    2.000  7/27/2018    EUR    71.600
DZ Bank AG Deutsche Zentra    9.000  6/22/2018    EUR    71.460
Vontobel Financial Product    6.450  9/14/2018    EUR    67.880
Commerzbank AG               15.000 10/26/2018    EUR    73.490
Credit Suisse AG/London       8.540   1/7/2020    USD     9.982
Deutsche Bank AG              7.200  9/25/2018    EUR    63.600
Deutsche Bank AG              5.200  9/25/2018    EUR    68.900
Vontobel Financial Product    6.550  9/28/2018    EUR    73.930
Commerzbank AG               10.000   3/2/2020    EUR    71.690
BNP Paribas Emissions- und    6.500  9/27/2018    EUR    67.030
EFG International Finance     8.000   3/9/2020    USD    56.840
Vontobel Financial Product    7.500  6/22/2018    EUR    56.680
Vontobel Financial Product    9.500  6/22/2018    EUR    56.730
Vontobel Financial Product    6.000  7/27/2018    EUR    66.840
MultiBotSystems Investment   10.250  7/14/2023    RUB   100.050
Vontobel Financial Product    3.550  9/28/2018    EUR    73.140
Vontobel Financial Product    6.000  1/18/2019    EUR    60.370
Vontobel Financial Product    4.000  9/28/2018    EUR    55.720
Vontobel Financial Product   10.550  7/27/2018    EUR    62.920
Vontobel Financial Product    5.550  6/22/2018    EUR    56.670
Vontobel Financial Product   10.550  7/27/2018    EUR    40.570
UBS AG/London                 6.000  9/27/2018    EUR    69.310
DekaBank Deutsche Girozent    3.000  6/21/2021    EUR    66.480
UBS AG/London                14.400   1/3/2019    EUR    65.100
Deutsche Bank AG              3.200  9/25/2018    EUR    68.400
Deutsche Bank AG              4.200 12/27/2018    EUR    69.500
Credit Suisse AG/London       7.000  10/9/2018    USD    74.050
Vontobel Financial Product   13.000  6/22/2018    EUR    56.350
Deutsche Bank AG              6.200 12/27/2018    EUR    69.000
Deutsche Bank AG              6.200  9/25/2018    EUR    73.000
Deutsche Bank AG              4.200  9/25/2018    EUR    66.300
Deutsche Bank AG              3.200 12/27/2018    EUR    69.000
HSBC Trinkaus & Burkhardt    10.700  9/28/2018    EUR    39.530
HSBC Trinkaus & Burkhardt     9.700  7/27/2018    EUR    39.640
HSBC Trinkaus & Burkhardt     6.700  9/28/2018    EUR    66.700
HSBC Trinkaus & Burkhardt     4.800  9/28/2018    EUR    69.940
Citigroup Global Markets F    7.000  6/16/2022    SEK    51.330
Bank Julius Baer & Co Ltd/    5.600   7/6/2018    EUR    66.250
HSBC Trinkaus & Burkhardt     8.100  9/28/2018    EUR    43.170
HSBC Trinkaus & Burkhardt    10.300  9/28/2018    EUR    63.920
Deutsche Bank AG              5.200  9/25/2018    EUR    72.700
Goldman Sachs & Co Wertpap   18.000  7/25/2018    EUR    67.500
Deutsche Bank AG              6.200 12/27/2018    EUR    74.300
Commerzbank AG               12.250   1/2/2019    EUR    71.570
Commerzbank AG               16.250  8/24/2018    EUR    71.140
HSBC Trinkaus & Burkhardt     8.300  9/28/2018    EUR    73.350
Vontobel Financial Product   10.000  6/22/2018    EUR    62.990
Deutsche Bank AG              6.200  9/25/2018    EUR    68.000
Deutsche Bank AG              3.200  9/25/2018    EUR    70.900
Deutsche Bank AG              4.200  9/25/2018    EUR    68.700
Deutsche Bank AG              3.200  9/25/2018    EUR    63.900
Deutsche Bank AG              3.200 12/27/2018    EUR    66.700
Vontobel Financial Product   11.500  6/22/2018    EUR    59.460
Goldman Sachs & Co Wertpap   14.000  7/25/2018    EUR    72.560
Goldman Sachs & Co Wertpap   17.000  8/22/2018    EUR    68.630
Goldman Sachs & Co Wertpap   20.000  7/25/2018    EUR    70.880
Commerzbank AG               11.750  1/25/2019    EUR    71.880
Deutsche Bank AG              6.200  9/25/2018    EUR    53.000
HSBC Trinkaus & Burkhardt     8.500  9/28/2018    EUR    67.660
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    65.010
Deutsche Bank AG              5.200 12/27/2018    EUR    73.800
Deutsche Bank AG              5.200  9/25/2018    EUR    52.700
BNP Paribas Emissions- und    5.000 12/31/2018    EUR    64.680
Goldman Sachs & Co Wertpap   16.000  9/26/2018    EUR    69.890
Goldman Sachs & Co Wertpap   15.000 12/28/2018    EUR    74.610
Goldman Sachs & Co Wertpap   14.000 12/28/2018    EUR    72.930
Vontobel Financial Product    1.650  9/14/2018    EUR    74.040
DZ Bank AG Deutsche Zentra   13.750  8/22/2018    EUR    68.820
Vontobel Financial Product   11.800  9/14/2018    EUR    74.240
UBS AG/London                 6.500   1/7/2019    CHF    50.700
Commerzbank AG               18.750   1/2/2019    EUR    71.140
DZ Bank AG Deutsche Zentra   11.000  6/22/2018    EUR    60.040
Raiffeisen Centrobank AG      7.536 12/28/2018    EUR    54.720
Deutsche Bank AG              5.200 12/27/2018    EUR    70.300
Zurcher Kantonalbank Finan    5.750  7/27/2018    CHF    61.570
Credit Suisse AG/London       8.250  7/26/2018    USD    50.060
Bank Julius Baer & Co Ltd/    6.600  7/27/2018    USD    63.600
UniCredit Bank AG             5.800  6/22/2018    EUR    69.130
Vontobel Financial Product    6.200  9/14/2018    EUR    75.850
Vontobel Financial Product    8.000  6/22/2018    EUR    71.000
Commerzbank AG               24.250  8/24/2018    EUR    64.870
Deutsche Bank AG              5.200  9/25/2018    EUR    71.400
Deutsche Bank AG              5.200  7/25/2018    EUR    68.100
Deutsche Bank AG              5.200  7/25/2018    EUR    63.600
Deutsche Bank AG              5.200  9/25/2018    EUR    68.900
Deutsche Bank AG              5.200 12/27/2018    EUR    65.700
Raiffeisen Schweiz Genosse    9.200  2/12/2019    CHF    69.510
DZ Bank AG Deutsche Zentra    5.000  9/24/2018    EUR    69.270
Vontobel Financial Product   10.500  6/22/2018    EUR    59.910
EFG International Finance     6.000   8/3/2020    USD    61.800
Commerzbank AG               15.250  8/24/2018    EUR    71.930
Commerzbank AG               17.250  8/24/2018    EUR    70.370
Commerzbank AG               14.750  9/28/2018    EUR    72.710
Commerzbank AG               14.000 10/26/2018    EUR    73.630
Vontobel Financial Product   13.000  6/22/2018    EUR    74.410
Deutsche Bank AG              5.200  7/25/2018    EUR    70.600
Commerzbank AG               17.000  8/24/2018    EUR    71.320
Commerzbank AG               15.500  9/28/2018    EUR    72.530
Deutsche Bank AG              5.200  9/25/2018    EUR    68.400
Vontobel Financial Product    9.000  7/27/2018    EUR    69.650
Landesbank Baden-Wuerttemb    8.000  7/27/2018    EUR    63.760
Landesbank Baden-Wuerttemb    4.500  7/27/2018    EUR    68.000
Vontobel Financial Product    5.500   1/2/2019    EUR    70.130
DZ Bank AG Deutsche Zentra    7.750  9/28/2018    EUR    68.300
DZ Bank AG Deutsche Zentra    7.400  9/24/2018    EUR    65.800
Vontobel Financial Product    7.800  9/14/2018    EUR    74.100
Vontobel Financial Product    9.500  6/22/2018    EUR    69.110
Vontobel Financial Product    6.000  6/22/2018    EUR    74.020
UniCredit Bank AG             4.000  6/22/2018    EUR    61.490
UniCredit Bank AG             3.500  6/22/2018    EUR    64.060
Vontobel Financial Product    5.800  9/14/2018    EUR    68.520
Vontobel Financial Product   10.300  9/14/2018    EUR    54.720
Vontobel Financial Product    8.600  9/14/2018    EUR    54.350
UniCredit Bank AG            12.900  6/22/2018    EUR    70.610
UniCredit Bank AG            14.400  6/22/2018    EUR    68.780
Zurcher Kantonalbank Finan    9.500  7/13/2018    CHF    65.910
Landesbank Baden-Wuerttemb    3.000 10/26/2018    EUR    72.520
Commerzbank AG               11.250  1/25/2019    EUR    67.880
Commerzbank AG               14.750  2/22/2019    EUR    64.470
Commerzbank AG               16.750  2/22/2019    EUR    62.850
Leonteq Securities AG/Guer   11.800 12/21/2018    USD    66.950
Vontobel Financial Product   10.500  9/28/2018    EUR    70.540
Deutsche Bank AG              6.200  9/24/2019    EUR    73.000
Deutsche Bank AG              6.200 12/27/2018    EUR    72.700
Deutsche Bank AG              6.200 12/27/2018    EUR    70.200
Deutsche Bank AG              4.200  3/19/2019    EUR    72.200
Bank Julius Baer & Co Ltd/    5.500  9/26/2018    CHF    57.150
DZ Bank AG Deutsche Zentra   10.750  9/28/2018    EUR    49.920
Commerzbank AG                9.250  1/25/2019    EUR    71.310
Commerzbank AG               13.250  1/25/2019    EUR    65.380
Deutsche Bank AG              4.200  9/24/2019    EUR    72.700
Deutsche Bank AG              4.200  3/19/2019    EUR    69.800
Deutsche Bank AG              4.200  6/25/2019    EUR    72.200
HSBC Trinkaus & Burkhardt     7.600  8/24/2018    EUR    40.030
BNP Paribas Emissions- und    8.000  9/27/2018    EUR    69.030
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    67.480
BNP Paribas Emissions- und   16.000  9/27/2018    EUR    67.290
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    72.770
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    37.640
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    42.990
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    69.810
Commerzbank AG                7.750  7/27/2018    EUR    45.640
Commerzbank AG                9.750  7/27/2018    EUR    42.170
DZ Bank AG Deutsche Zentra    7.000  6/22/2018    EUR    73.090
Vontobel Financial Product   13.900  9/14/2018    EUR    74.850
Credit Suisse AG/London       7.000  11/8/2018    USD    51.890
Vontobel Financial Product    6.000  6/22/2018    EUR    60.750
Goldman Sachs & Co Wertpap   19.000  1/23/2019    EUR    68.210
Goldman Sachs & Co Wertpap   23.000 12/28/2018    EUR    67.020
EFG International Finance     5.500  9/21/2020    USD    67.800
UBS AG/London                22.700  9/27/2018    EUR    58.850
UBS AG/London                16.100  9/27/2018    EUR    63.620
DZ Bank AG Deutsche Zentra    9.750  9/28/2018    EUR    73.050
Vontobel Financial Product   10.650   3/8/2019    EUR    66.290
Commerzbank AG               11.250  6/22/2018    EUR    40.310
DZ Bank AG Deutsche Zentra    8.000  9/26/2018    EUR    73.170
Zurcher Kantonalbank Finan    6.250  9/21/2018    CHF    58.610
Leonteq Securities AG/Guer    7.600  9/18/2019    USD    64.100
Raiffeisen Schweiz Genosse    6.750  3/15/2019    CHF    62.670
Vontobel Financial Product    9.750   3/8/2019    EUR    72.170
Raiffeisen Schweiz Genosse    4.000  7/24/2019    CHF    71.550
Vontobel Financial Product    6.700   3/8/2019    EUR    61.420
Commerzbank AG               13.250  6/22/2018    EUR    38.480
Raiffeisen Schweiz Genosse    8.990  7/22/2019    EUR    21.670
DZ Bank AG Deutsche Zentra    6.750 12/28/2018    EUR    74.120
Deutsche Bank AG              4.200 12/24/2019    EUR    73.200
Citigroup Global Markets F    5.600  9/15/2022    SEK    63.290
Commerzbank AG               10.250  7/27/2018    EUR    70.500
Commerzbank AG               12.250  7/27/2018    EUR    67.830
Commerzbank AG               11.750  8/24/2018    EUR    68.720
Vontobel Financial Product   13.050   3/8/2019    EUR    70.010
Vontobel Financial Product    8.750  9/28/2018    EUR    70.390
Goldman Sachs & Co Wertpap    7.000  6/26/2019    EUR    74.130
Goldman Sachs & Co Wertpap    7.000 10/24/2018    EUR    71.310
Landesbank Baden-Wuerttemb    2.900  7/27/2018    EUR    43.010
Raiffeisen Schweiz Genosse    4.200  7/17/2019    CHF    71.780
UniCredit Bank AG            14.400   1/4/2019    EUR    60.240
UniCredit Bank AG            12.000  9/28/2018    EUR    65.400
UniCredit Bank AG             3.400   1/4/2019    EUR    63.860
UniCredit Bank AG            13.500   1/4/2019    EUR    42.010
HSBC Trinkaus & Burkhardt     5.800  6/22/2018    EUR    69.470
Commerzbank AG               10.500 10/26/2018    EUR    39.640
Commerzbank AG               12.750 11/23/2018    EUR    73.770
DZ Bank AG Deutsche Zentra    9.500  9/24/2018    EUR    67.800
Bank Julius Baer & Co Ltd/    6.250  2/13/2019    CHF    69.450
Commerzbank AG                7.750  7/27/2018    EUR    69.600
DZ Bank AG Deutsche Zentra    6.750 10/26/2018    EUR    67.570
DZ Bank AG Deutsche Zentra    5.500  2/20/2019    EUR    71.430
HSBC Trinkaus & Burkhardt     5.500  3/22/2019    EUR    68.890
HSBC Trinkaus & Burkhardt     5.900 12/28/2018    EUR    65.950
Vontobel Financial Product   10.500  9/21/2018    EUR    70.090
Deutsche Bank AG              5.200 10/24/2018    EUR    73.300
Deutsche Bank AG              5.200 12/27/2018    EUR    72.200
Vontobel Financial Product    9.250  9/14/2018    EUR    72.110
Vontobel Financial Product   12.000  9/14/2018    EUR    67.900
Deutsche Bank AG              5.200 10/24/2018    EUR    64.800
Deutsche Bank AG              5.200 11/21/2018    EUR    69.700
Deutsche Bank AG              5.200 11/21/2018    EUR    65.300
Deutsche Bank AG              5.200  6/25/2019    EUR    72.400
Commerzbank AG               10.500  1/25/2019    EUR    71.180
Commerzbank AG                4.500  1/25/2019    EUR    70.020
Commerzbank AG                8.500  1/25/2019    EUR    65.790
Commerzbank AG               15.250  1/25/2019    EUR    69.340
Commerzbank AG                3.750 12/21/2018    EUR    73.140
Vontobel Financial Product    9.500  9/28/2018    EUR    69.080
Vontobel Financial Product    7.500   1/2/2019    EUR    70.060
HSBC Trinkaus & Burkhardt     7.400  3/22/2019    EUR    67.010
Commerzbank AG               13.500 11/23/2018    EUR    72.850
Deutsche Bank AG              5.200 10/24/2018    EUR    70.500
Deutsche Bank AG              5.200 11/21/2018    EUR    70.900
Deutsche Bank AG              5.200  3/19/2019    EUR    72.000
Deutsche Bank AG              5.200  3/19/2019    EUR    67.700
Deutsche Bank AG              5.200  6/25/2019    EUR    68.200
Deutsche Bank AG              5.200 10/24/2018    EUR    71.100
Deutsche Bank AG              5.200 11/21/2018    EUR    71.600
Deutsche Bank AG              5.200  6/25/2019    EUR    72.900
DZ Bank AG Deutsche Zentra    7.500  9/24/2018    EUR    69.140
DZ Bank AG Deutsche Zentra    5.000 12/28/2018    EUR #N/A N/A
Vontobel Financial Product    9.050   1/2/2019    EUR    69.130
Vontobel Financial Product   11.000   1/2/2019    EUR    67.680
Commerzbank AG                9.000  2/22/2019    EUR    72.070
Credit Suisse AG/London       7.000  7/19/2018    USD    73.380
Commerzbank AG                5.000 12/21/2018    EUR    74.550
DZ Bank AG Deutsche Zentra    7.250  9/24/2018    EUR    73.230
Commerzbank AG               12.500  1/25/2019    EUR    68.730
Commerzbank AG                6.500  1/25/2019    EUR    67.480
Commerzbank AG               13.250  1/25/2019    EUR    71.890
Commerzbank AG               19.250  1/25/2019    EUR    65.170
Commerzbank AG               10.500  1/25/2019    EUR    71.740
Commerzbank AG               11.750  1/25/2019    EUR    73.530
Commerzbank AG               16.000  8/24/2018    EUR    66.620
Vontobel Financial Product    8.800  9/14/2018    EUR    64.890
BNP Paribas Emissions- und   19.000  9/27/2018    EUR    69.730
UniCredit Bank AG             6.000  9/28/2018    EUR     4.180
UniCredit Bank AG             3.100  9/28/2018    EUR    58.320
Deutsche Bank AG              5.200  9/25/2018    EUR    66.600
UniCredit Bank AG            11.000  9/28/2018    EUR    63.810
UniCredit Bank AG            12.900  9/28/2018    EUR    61.420
Commerzbank AG                6.000 10/26/2018    EUR    66.830
UniCredit Bank AG            11.400   1/3/2020    EUR    69.510
UniCredit Bank AG            13.800   1/3/2020    EUR    69.280
BNP Paribas Emissions- und   18.000  9/27/2018    EUR    59.760
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    65.790
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    63.590
UniCredit Bank AG            11.500   1/4/2019    EUR    63.630
Vontobel Financial Product   16.100 12/14/2018    EUR    74.860
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    66.420
BNP Paribas Emissions- und   16.000 12/31/2018    EUR    65.330
BNP Paribas Emissions- und   18.000  6/27/2019    EUR    67.400
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    64.630
BNP Paribas Emissions- und    9.500 12/31/2018    EUR    62.630
BNP Paribas Emissions- und   14.000  3/21/2019    EUR    65.070
UniCredit Bank AG            14.800  3/22/2019    EUR    70.740
UniCredit Bank AG            14.400  3/22/2019    EUR    73.040
UBS AG/London                12.250  8/23/2018    USD    61.250
Vontobel Financial Product    9.550 12/14/2018    EUR    69.580
EFG International Finance    12.000 11/15/2018    CHF    71.220
Vontobel Financial Product   12.500  9/14/2018    EUR    71.190
Commerzbank AG               11.500  2/22/2019    EUR    69.320
HSBC Trinkaus & Burkhardt     6.100 12/28/2018    EUR    48.030
HSBC Trinkaus & Burkhardt     4.100 12/28/2018    EUR    53.520
HSBC Trinkaus & Burkhardt     7.800  7/27/2018    EUR    42.990
Raiffeisen Schweiz Genosse   12.000  9/11/2018    CHF    61.430
HSBC Trinkaus & Burkhardt     6.000  9/28/2018    EUR    64.620
Commerzbank AG               13.250  8/24/2018    EUR    73.830
Deutsche Bank AG              5.200 10/24/2018    EUR    69.300
Deutsche Bank AG              5.200 12/27/2018    EUR    73.000
Commerzbank AG                5.500  1/25/2019    EUR    68.640
Commerzbank AG                7.500  1/25/2019    EUR    66.480
Commerzbank AG               24.000  9/28/2018    EUR    60.200
Bank Julius Baer & Co Ltd/    6.800  9/12/2018    CHF    54.950
DZ Bank AG Deutsche Zentra    5.500 12/28/2018    EUR    74.180
Vontobel Financial Product    8.050  9/28/2018    EUR    70.630
Vontobel Financial Product   12.000  9/28/2018    EUR    75.420
UBS AG/London                 6.000  11/8/2018    EUR    65.750
Landesbank Baden-Wuerttemb    4.500  9/28/2018    EUR    70.590
Raiffeisen Centrobank AG      6.037  6/25/2019    EUR    12.950
HSBC Trinkaus & Burkhardt    16.200  9/28/2018    EUR    64.670
Vontobel Financial Product   10.000  9/28/2018    EUR    70.540
Commerzbank AG               16.500  8/24/2018    EUR    70.190
Vontobel Financial Product   15.050  9/14/2018    EUR    64.370
Deutsche Bank AG              5.200  3/19/2019    EUR    73.000
Deutsche Bank AG              5.200  6/25/2019    EUR    73.200
Commerzbank AG                9.500  1/25/2019    EUR    72.500
Commerzbank AG               11.500  1/25/2019    EUR    69.940
Bank Julius Baer & Co Ltd/    7.200  2/13/2019    CHF    70.400
Commerzbank AG               17.250  1/25/2019    EUR    67.160
Commerzbank AG                9.500  1/25/2019    EUR    72.850
Commerzbank AG               11.500  1/25/2019    EUR    70.750
Zurcher Kantonalbank Finan    5.000  7/11/2018    CHF    63.660
Vontobel Financial Product   10.500  6/22/2018    EUR    56.180
Vontobel Financial Product    7.000  6/22/2018    EUR    56.040
Vontobel Financial Product   10.050   1/2/2019    EUR    57.580
Vontobel Financial Product    6.550  9/28/2018    EUR    67.160
Vontobel Financial Product   13.000  9/28/2018    EUR    38.050
Vontobel Financial Product   12.000   1/2/2019    EUR    40.920
DZ Bank AG Deutsche Zentra    6.750  6/22/2018    EUR    70.650
DZ Bank AG Deutsche Zentra   10.750  7/27/2018    EUR    56.460
Landesbank Baden-Wuerttemb    4.000  7/27/2018    EUR    72.960
Landesbank Baden-Wuerttemb    4.000  7/27/2018    EUR    73.420
Landesbank Baden-Wuerttemb    3.000  7/27/2018    EUR    67.590
DZ Bank AG Deutsche Zentra    7.500  6/22/2018    EUR    63.770
Vontobel Financial Product   11.500  6/22/2018    EUR    56.070
Vontobel Financial Product    8.500  6/22/2018    EUR    56.050
Vontobel Financial Product    9.500   1/2/2019    EUR    57.290
Commerzbank AG               13.500 11/23/2018    EUR    70.940
Vontobel Financial Product    8.000  6/22/2018    EUR    56.040
Vontobel Financial Product   11.550  9/28/2018    EUR    55.410
Vontobel Financial Product    8.000   1/2/2019    EUR    56.520
Vontobel Financial Product   10.000  9/28/2018    EUR    55.020
Vontobel Financial Product    6.550   1/2/2019    EUR    63.960
Leonteq Securities AG/Guer    7.000  6/26/2019    CHF    51.860
DZ Bank AG Deutsche Zentra    9.500  9/28/2018    EUR    41.380
DZ Bank AG Deutsche Zentra   10.300   1/2/2019    EUR    61.850
Landesbank Baden-Wuerttemb    6.000 11/23/2018    EUR    65.590
Landesbank Baden-Wuerttemb    4.000 11/23/2018    EUR    71.590
Commerzbank AG               16.750  7/27/2018    EUR    70.000
Commerzbank AG               13.250 10/26/2018    EUR    72.690
BNP Paribas Emissions- und    4.500  9/27/2018    EUR    71.370
BNP Paribas Emissions- und    5.000 12/31/2018    EUR    68.730
HSBC Trinkaus & Burkhardt    11.900  6/22/2018    EUR    62.920
HSBC Trinkaus & Burkhardt    10.100  6/22/2018    EUR    67.220
Deutsche Bank AG              6.200  6/25/2019    EUR    71.900
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    59.110
Landesbank Baden-Wuerttemb    5.500  8/24/2018    EUR    68.530
Bank Julius Baer & Co Ltd/    7.300  8/16/2019    USD    68.850
DZ Bank AG Deutsche Zentra    5.500  9/28/2018    EUR    66.380
DZ Bank AG Deutsche Zentra    8.250  6/22/2018    EUR    70.420
DZ Bank AG Deutsche Zentra    5.500  6/22/2018    EUR    59.860
UniCredit Bank AG            14.700   1/4/2019    EUR    71.720
UniCredit Bank AG             3.400  6/22/2018    EUR    69.860
UniCredit Bank AG            14.600   1/4/2019    EUR    64.300
UniCredit Bank AG            13.500   1/4/2019    EUR    74.260
UniCredit Bank AG             9.600  9/28/2018    EUR    70.210
UniCredit Bank AG            11.500  9/28/2018    EUR    72.820
UniCredit Bank AG             9.700  9/28/2018    EUR    66.670
Landesbank Baden-Wuerttemb    4.600  3/22/2019    EUR    74.770
UniCredit Bank AG            10.100  9/28/2018    EUR    72.140
UniCredit Bank AG            10.500  9/28/2018    EUR    75.770
UniCredit Bank AG             5.700  9/28/2018    EUR    50.960
UniCredit Bank AG            11.800  9/28/2018    EUR    66.340
Landesbank Baden-Wuerttemb    3.000  6/28/2019    EUR    68.820
Landesbank Baden-Wuerttemb    5.000  3/22/2019    EUR    64.770
Vontobel Financial Product    4.000  6/22/2018    EUR    63.940
Vontobel Financial Product    8.000  6/22/2018    EUR    57.880
Vontobel Financial Product   11.000  6/22/2018    EUR    54.040
Commerzbank AG                8.750  7/27/2018    EUR    66.940
Commerzbank AG                9.750  7/27/2018    EUR    64.850
Commerzbank AG               11.750  7/27/2018    EUR    39.650
Commerzbank AG               13.750  7/27/2018    EUR    37.640
Vontobel Financial Product    9.500  7/27/2018    EUR    59.290
Commerzbank AG                6.000  7/27/2018    EUR    68.700
UniCredit Bank AG            14.800  6/22/2018    EUR    72.620
UniCredit Bank AG             9.100  6/22/2018    EUR    63.890
UniCredit Bank AG             4.200  6/22/2018    EUR    72.840
UniCredit Bank AG            12.100  6/22/2018    EUR    57.530
UniCredit Bank AG             9.000  6/22/2018    EUR    46.680
Commerzbank AG                7.750  7/27/2018    EUR    69.300
UniCredit Bank AG             5.000  6/29/2018    EUR    67.150
Leonteq Securities AG         7.400  4/24/2020    USD    56.430
BNP Paribas Emissions- und    7.500 12/31/2018    EUR    72.150
UniCredit Bank AG            13.900  6/22/2018    EUR    74.250
UniCredit Bank AG             5.600  6/22/2018    EUR    68.740
Landesbank Baden-Wuerttemb    4.000 11/23/2018    EUR    69.090
Commerzbank AG                8.500 11/23/2018    EUR    63.610
Deutsche Bank AG              5.500  9/25/2018    EUR    67.800
Deutsche Bank AG              5.500 12/27/2018    EUR    67.000
HSBC Trinkaus & Burkhardt     8.700  9/28/2018    EUR    69.960
Leonteq Securities AG        10.400 11/22/2019    EUR    68.690
Deutsche Bank AG              4.200 12/27/2018    EUR    71.900
DZ Bank AG Deutsche Zentra    9.000  6/22/2018    EUR    71.280
DZ Bank AG Deutsche Zentra   13.500  8/24/2018    EUR    63.510
UniCredit Bank AG            14.900  6/22/2018    EUR    67.650
Landesbank Hessen-Thuering    4.000 10/10/2018    EUR    69.100
UniCredit Bank AG             6.100  6/22/2018    EUR    53.050
UniCredit Bank AG            13.900  6/22/2018    EUR    39.590
UniCredit Bank AG            13.800  6/22/2018    EUR    58.790
UniCredit Bank AG            11.600  6/22/2018    EUR    61.480
Vontobel Financial Product   14.500  6/22/2018    EUR    62.660
HSBC Trinkaus & Burkhardt    13.400  6/22/2018    EUR    38.650
Vontobel Financial Product   11.500  6/22/2018    EUR    40.520
HSBC Trinkaus & Burkhardt     8.900  6/22/2018    EUR    45.400
Vontobel Financial Product    5.000  9/28/2018    EUR    44.690
Vontobel Financial Product   11.000   1/2/2019    EUR    40.400
HSBC Trinkaus & Burkhardt     8.300  9/28/2018    EUR    72.070
HSBC Trinkaus & Burkhardt     5.700  6/22/2018    EUR    66.030
Vontobel Financial Product    8.550   1/2/2019    EUR    65.830
DZ Bank AG Deutsche Zentra    5.000  1/25/2019    EUR    71.340
Vontobel Financial Product   12.000  6/22/2018    EUR    53.100
Vontobel Financial Product   14.000  6/22/2018    EUR    50.320
Vontobel Financial Product    4.000  9/28/2018    EUR    73.780
Vontobel Financial Product    6.050  9/28/2018    EUR    64.640
Vontobel Financial Product    9.000  9/28/2018    EUR    57.980
Vontobel Financial Product   12.500  9/28/2018    EUR    53.040
Vontobel Financial Product    6.000   1/2/2019    EUR    66.080
Vontobel Financial Product   10.000   1/2/2019    EUR    57.700
Vontobel Financial Product    7.000   1/2/2019    EUR    62.700
Vontobel Financial Product   11.500   1/2/2019    EUR    55.700
DZ Bank AG Deutsche Zentra    7.000  8/24/2018    EUR    64.610
Vontobel Financial Product    6.600  9/14/2018    EUR    64.560
Vontobel Financial Product   11.650  9/14/2018    EUR    55.160
Vontobel Financial Product    3.450  9/14/2018    EUR    68.150
Vontobel Financial Product   13.100  9/14/2018    EUR    55.270
UniCredit Bank AG             6.400  6/22/2018    EUR    66.870
Deutsche Bank AG              4.200 12/27/2018    EUR    74.600
Deutsche Bank AG              6.200 12/27/2018    EUR    72.900
UniCredit Bank AG            14.100  6/22/2018    EUR    68.970
DZ Bank AG Deutsche Zentra    8.500   1/2/2019    EUR    59.290
UniCredit Bank AG             5.900  6/22/2018    EUR    71.330
UniCredit Bank AG            11.600  6/22/2018    EUR    74.920
Landesbank Baden-Wuerttemb    4.000  8/24/2018    EUR    73.440
Landesbank Baden-Wuerttemb    7.000  8/24/2018    EUR    64.340
DZ Bank AG Deutsche Zentra    5.500  6/22/2018    EUR    66.790
DZ Bank AG Deutsche Zentra    6.500  6/22/2018    EUR    59.870
UniCredit Bank AG            11.700  9/28/2018    EUR    72.830
UniCredit Bank AG             4.600   1/4/2019    EUR     4.870
UniCredit Bank AG             8.600  9/28/2018    EUR    72.420
UniCredit Bank AG            10.100  6/22/2018    EUR     2.200
UniCredit Bank AG             3.100  6/22/2018    EUR     2.750
UniCredit Bank AG             7.700  6/22/2018    EUR     2.290
UniCredit Bank AG            10.800  9/28/2018    EUR    73.120
UniCredit Bank AG             8.200  9/28/2018    EUR    45.580
UniCredit Bank AG             4.700  9/28/2018    EUR    54.400
UBS AG/London                 6.000  9/27/2018    EUR    69.330
Leonteq Securities AG/Guer   11.000 11/21/2018    CHF    71.840
Vontobel Financial Product   10.500  8/24/2018    EUR    69.530
DZ Bank AG Deutsche Zentra    5.100   1/2/2019    EUR    73.040
Vontobel Financial Product   10.500   1/2/2019    EUR    63.870
Vontobel Financial Product    6.000  9/28/2018    EUR    70.070
Landesbank Baden-Wuerttemb    3.000 11/23/2018    EUR    72.710
Commerzbank AG               15.500  8/24/2018    EUR    70.940
Deutsche Bank AG              5.500  9/25/2018    EUR    66.000
Deutsche Bank AG              5.500 12/27/2018    EUR    68.700
BNP Paribas Emissions- und    5.000  3/21/2019    EUR    70.520
Bank Julius Baer & Co Ltd/    5.500  8/27/2018    CHF    65.700
Vontobel Financial Product    8.500  9/28/2018    EUR    67.010
Vontobel Financial Product   10.500  9/28/2018    EUR    64.950
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    63.010
Commerzbank AG                4.750 10/26/2018    EUR    67.280
BNP Paribas Emissions- und    5.500  9/27/2018    EUR    66.840
Deutsche Bank AG              5.500  9/25/2018    EUR    69.700
Deutsche Bank AG              5.500 12/27/2018    EUR    70.500
Vontobel Financial Product    7.000   1/2/2019    EUR    70.910
Vontobel Financial Product   10.500  6/22/2018    EUR    69.470
HSBC Trinkaus & Burkhardt     7.500  6/22/2018    EUR    74.730
Vontobel Financial Product    5.250  9/14/2018    EUR    68.750
Deutsche Bank AG              6.200  3/19/2019    EUR    72.700
UniCredit Bank AG            12.200  6/22/2018    EUR    71.770
Deutsche Bank AG              4.200 12/27/2018    EUR    63.700
Landesbank Baden-Wuerttemb    4.600 11/23/2018    EUR    73.920
Deutsche Bank AG              4.200 12/27/2018    EUR    57.800
Deutsche Bank AG              6.200 12/27/2018    EUR    55.700
Deutsche Bank AG              4.200  9/25/2018    EUR    60.200
Goldman Sachs & Co Wertpap   20.000  7/25/2018    EUR    73.900
HSBC Trinkaus & Burkhardt     8.700  8/24/2018    EUR    43.730
Goldman Sachs & Co Wertpap   13.000  1/23/2019    EUR    70.910
Goldman Sachs & Co Wertpap   20.000  2/20/2019    EUR    68.520
Goldman Sachs & Co Wertpap   19.000  3/20/2019    EUR    69.330
Goldman Sachs & Co Wertpap   24.000  9/26/2018    EUR    65.240
Goldman Sachs & Co Wertpap   13.000 10/24/2018    EUR    70.170
Goldman Sachs & Co Wertpap   25.000 10/24/2018    EUR    65.450
Goldman Sachs & Co Wertpap   20.000 11/21/2018    EUR    67.270
Goldman Sachs & Co Wertpap    7.000  3/20/2019    EUR    73.560
Goldman Sachs & Co Wertpap    7.000  9/26/2018    EUR    70.820
UBS AG/London                 8.750  8/28/2019    CHF    72.400
Landesbank Baden-Wuerttemb    3.100 10/25/2019    EUR    58.210
VTB Bank PJSC                 9.000  8/14/2043    RUB    62.010
SG Issuer SA                  0.800 11/30/2020    SEK    51.000
Landesbank Baden-Wuerttemb    2.800 11/23/2018    EUR    61.230
T-Generation CJSC            12.000  6/14/2019    RUB     0.500
DekaBank Deutsche Girozent    3.500 10/28/2019    EUR    42.610
Beluga Group PJSC             9.750  5/28/2020    RUB    65.000
Pongs & Zahn AG               8.500               EUR     0.002
getBACK SA                    5.720  10/5/2019    PLN    15.000
Landesbank Hessen-Thuering    7.770  7/15/2021    EUR    59.970
Landesbank Hessen-Thuering    3.250 12/27/2018    EUR    73.700
SG Issuer SA                  5.500  4/10/2021    EUR    65.970
Raiffeisen Schweiz Genosse    5.000   8/6/2018    CHF    69.970
Deutsche Bank AG              5.200  9/25/2018    EUR    74.000
Deutsche Bank AG              5.200  7/25/2018    EUR    67.600
Deutsche Bank AG              5.200  7/25/2018    EUR    70.600
DZ Bank AG Deutsche Zentra    9.000  9/28/2018    EUR    62.600
Bank Julius Baer & Co Ltd/    5.800  7/13/2018    USD    67.550
HSBC Trinkaus & Burkhardt     5.600  7/27/2018    EUR    68.230
HSBC Trinkaus & Burkhardt     5.800 10/26/2018    EUR    69.660
Vontobel Financial Product   12.000  2/22/2019    EUR    70.860
Vontobel Financial Product    9.000  6/22/2018    EUR    70.280
Vontobel Financial Product    6.500  6/22/2018    EUR    72.980
HSBC Trinkaus & Burkhardt     5.400  6/28/2019    EUR    69.450
HSBC Trinkaus & Burkhardt     4.500  6/28/2019    EUR    72.410
Commerzbank AG               21.000 10/26/2018    EUR    68.290
HSBC Trinkaus & Burkhardt     3.200  6/22/2018    EUR    67.070
HSBC Trinkaus & Burkhardt     6.500  9/28/2018    EUR    64.760
Commerzbank AG               14.000  6/22/2018    EUR    60.900
Vontobel Financial Product    7.000   1/2/2019    EUR    62.040
HSBC Trinkaus & Burkhardt     4.700  9/28/2018    EUR    71.390
HSBC Trinkaus & Burkhardt     9.800  6/22/2018    EUR    45.410
HSBC Trinkaus & Burkhardt     5.400  6/22/2018    EUR    51.390
HSBC Trinkaus & Burkhardt     8.200  9/28/2018    EUR    65.410
HSBC Trinkaus & Burkhardt     4.100  6/22/2018    EUR    41.430
HSBC Trinkaus & Burkhardt     5.200  6/22/2018    EUR    67.070
HSBC Trinkaus & Burkhardt     8.700  6/22/2018    EUR    64.990
Vontobel Financial Product    6.500   1/2/2019    EUR    52.970
Vontobel Financial Product    4.050  9/28/2018    EUR    53.490
Polski Bank Spoldzielczy w    5.300  9/14/2027    PLN    55.010
Commerzbank AG               20.250  8/24/2018    EUR    68.500
Commerzbank AG               22.250  8/24/2018    EUR    66.580
BNP Paribas Emissions- und    6.000 12/31/2018    EUR    39.280
BNP Paribas Emissions- und   16.000 12/31/2018    EUR    44.400
Commerzbank AG               14.000  7/27/2018    EUR    63.320
Commerzbank AG               15.250  8/24/2018    EUR    40.100
Commerzbank AG               12.250  9/28/2018    EUR    42.930
BNP Paribas Emissions- und   19.000 12/31/2018    EUR    64.840
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    72.930
BNP Paribas Emissions- und    4.500 12/31/2018    EUR    70.490
BNP Paribas Emissions- und    5.500 12/31/2018    EUR    70.990
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    66.740
BNP Paribas Emissions- und   18.000  9/27/2018    EUR    67.170
BNP Paribas Emissions- und   25.000  9/27/2018    EUR    61.730
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    63.910
BNP Paribas Emissions- und   12.000 12/31/2018    EUR    66.190
BNP Paribas Emissions- und   20.000  9/27/2018    EUR    59.860
BNP Paribas Emissions- und   16.000 12/31/2018    EUR    63.060
BNP Paribas Emissions- und   17.000  9/27/2018    EUR    70.770
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    65.450
BNP Paribas Emissions- und   18.000  9/27/2018    EUR    57.180
BNP Paribas Emissions- und    5.500 12/31/2018    EUR    72.770
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    64.400
BNP Paribas Emissions- und   17.000  9/27/2018    EUR    67.820
BNP Paribas Emissions- und   12.000 12/31/2018    EUR    71.950
UniCredit Bank AG             3.600   1/5/2020    EUR    75.140
Commerzbank AG               10.000  8/24/2018    EUR    63.900
Vontobel Financial Product    8.550  9/28/2018    EUR    74.600
Vontobel Financial Product    7.000   1/2/2019    EUR    75.710
Vontobel Financial Product    8.000   1/2/2019    EUR    74.480
BNP Paribas Emissions- und    3.000 12/31/2018    EUR    71.480
BNP Paribas Emissions- und    6.500 12/31/2018    EUR    64.500
Commerzbank AG               14.750  7/27/2018    EUR    72.510
Commerzbank AG               12.500 11/23/2018    EUR    41.200
Commerzbank AG               12.000  8/24/2018    EUR    61.660
Commerzbank AG                9.250  9/28/2018    EUR    65.200
Commerzbank AG               10.250  9/28/2018    EUR    63.950
Commerzbank AG               11.750 10/26/2018    EUR    62.500
Commerzbank AG                5.250 11/23/2018    EUR    73.340
Commerzbank AG                7.250 11/23/2018    EUR    68.920
Commerzbank AG                8.250 11/23/2018    EUR    67.180
Commerzbank AG                9.250 11/23/2018    EUR    65.750
Commerzbank AG               11.250 11/23/2018    EUR    63.360
Commerzbank AG                6.500 11/23/2018    EUR    47.980
DZ Bank AG Deutsche Zentra    6.250  3/20/2019    EUR    69.610
HSBC Trinkaus & Burkhardt    10.900  6/28/2019    EUR    67.850
DZ Bank AG Deutsche Zentra    7.750  9/26/2018    EUR #N/A N/A
DZ Bank AG Deutsche Zentra    4.250 12/28/2018    EUR    69.540
Goldman Sachs & Co Wertpap   15.000 11/21/2018    EUR    69.540
Commerzbank AG               14.250  7/27/2018    EUR    67.650
Commerzbank AG               13.750  8/24/2018    EUR    68.470
Commerzbank AG               15.250  6/22/2018    EUR    72.510
Commerzbank AG               11.000  9/28/2018    EUR    72.590
Commerzbank AG               12.000  9/28/2018    EUR    71.020
Commerzbank AG                3.750  9/28/2018    EUR    55.730
Commerzbank AG                5.750  9/28/2018    EUR    47.590
Commerzbank AG                7.750  9/28/2018    EUR    43.250
Commerzbank AG                9.750  9/28/2018    EUR    40.560
Commerzbank AG               11.750  9/28/2018    EUR    38.590
Commerzbank AG                6.000  9/28/2018    EUR    69.490
Commerzbank AG                7.000  9/28/2018    EUR    68.120
Commerzbank AG                8.000  9/28/2018    EUR    67.010
Vontobel Financial Product    8.500  9/28/2018    EUR    67.340
Deutsche Bank AG              4.200 12/27/2018    EUR    63.900
Credit Suisse AG/London       8.250  9/27/2018    USD    53.170
Leonteq Securities AG/Guer   10.200 12/20/2018    CHF    57.500
Leonteq Securities AG/Guer   12.200 12/20/2018    USD    57.680
Commerzbank AG                4.000  8/24/2018    EUR    52.150
DZ Bank AG Deutsche Zentra    5.000  3/20/2019    EUR    73.880
Commerzbank AG               15.250  1/25/2019    EUR    63.480
Deutsche Bank AG              4.200 12/27/2018    EUR    71.700
Deutsche Bank AG              4.200 12/27/2018    EUR    69.200
Deutsche Bank AG              4.200  6/25/2019    EUR    72.900
Deutsche Bank AG              4.200  9/24/2019    EUR    73.500
Samolet Group                13.500 10/30/2026    RUB   100.000
DZ Bank AG Deutsche Zentra    5.000  9/28/2018    EUR    68.950
Leonteq Securities AG         8.200 11/23/2018    USD    45.530
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    69.120
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    70.900
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    40.180
BNP Paribas Emissions- und    8.500  9/27/2018    EUR    74.210
Deutsche Bank AG              6.200  9/25/2018    EUR    69.800
Deutsche Bank AG              4.200 12/27/2018    EUR    69.800
Vontobel Financial Product    7.500  9/28/2018    EUR    69.580
Deutsche Bank AG              4.200  9/24/2019    EUR    70.500
Deutsche Bank AG              4.200 12/24/2019    EUR    71.000
Deutsche Bank AG              4.200  6/25/2019    EUR    69.900
Commerzbank AG                6.000  8/24/2018    EUR    44.070
Leonteq Securities AG/Guer   10.000 12/19/2018    CHF    38.630
BNP Paribas Emissions- und    9.000  9/27/2018    EUR    67.450
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    73.900
BNP Paribas Emissions- und    6.000  9/27/2018    EUR    41.560
BNP Paribas Emissions- und   11.000  9/27/2018    EUR    71.730
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    72.260
BNP Paribas Emissions- und    8.500  9/27/2018    EUR    71.950
Vontobel Financial Product   13.000  9/28/2018    EUR    66.420
Deutsche Bank AG              6.200  9/25/2018    EUR    63.600
Deutsche Bank AG              6.200 12/27/2018    EUR    70.800
Polski Bank Spoldzielczy w    4.780 11/26/2024    PLN    60.000
Landesbank Baden-Wuerttemb    2.500  8/24/2018    EUR    69.780
Zurcher Kantonalbank Finan    7.820   8/6/2018    EUR    50.800
Intertekhelektro-Novaya Ge    8.500  4/21/2020    RUB    65.000
Landesbank Baden-Wuerttemb    3.400  9/28/2018    EUR    41.610
DekaBank Deutsche Girozent    3.000  8/16/2019    EUR    59.410
Landesbank Baden-Wuerttemb    3.000 11/23/2018    EUR    63.170
Landesbank Baden-Wuerttemb    3.000  8/24/2018    EUR    67.490
getBACK SA                    5.680 10/30/2019    PLN    20.000
DekaBank Deutsche Girozent    2.600 10/12/2018    EUR    52.080
Leonteq Securities AG         7.000  8/22/2018    CHF    42.890
Landesbank Baden-Wuerttemb    3.000  9/27/2019    EUR    55.360
Landesbank Baden-Wuerttemb    3.350 11/23/2018    EUR    53.530
UniCredit Bank AG             4.100  10/1/2020    EUR    55.130
Leonteq Securities AG         5.000   9/4/2018    CHF    64.140
AKB Derzhava OJSC            15.000  9/12/2025    RUB   100.000
Rossiysky Capital OJSC        7.750  1/16/2020    RUB    61.900
Landesbank Hessen-Thuering    8.000 11/17/2020    EUR    73.480
UniCredit Bank AG             4.400 12/17/2019    EUR    70.910
Landesbank Baden-Wuerttemb    2.600  8/23/2019    EUR    46.150
EFG International Finance     7.200  7/29/2020    EUR    18.580
Leonteq Securities AG         5.200  8/14/2018    CHF    73.060
Rosbank PJSC                  0.030  4/30/2024    RUB   100.000
UBS AG/London                 5.000   8/6/2018    CHF    73.950
UniCredit Bank AG             6.800  6/22/2018    EUR    72.630
Raiffeisen Centrobank AG     10.954  6/25/2019    EUR    73.730
DZ Bank AG Deutsche Zentra    8.250  6/22/2018    EUR    67.200
UniCredit Bank AG             4.300  6/29/2018    EUR    57.020
Vontobel Financial Product    8.150  9/14/2018    EUR    60.960
Vontobel Financial Product    7.800  9/14/2018    EUR    60.660
Leonteq Securities AG        15.000  8/22/2018    CHF    71.820
Deutsche Bank AG              4.200  9/25/2018    EUR    73.600
Deutsche Bank AG              6.200  9/25/2018    EUR    71.300
Deutsche Bank AG              4.200 12/27/2018    EUR    75.000
UniCredit Bank AG            13.300  6/22/2018    EUR    74.860
DZ Bank AG Deutsche Zentra    7.600   1/2/2019    EUR    61.900
Landesbank Baden-Wuerttemb    7.000  1/25/2019    EUR    71.520
Credit Suisse AG/London       8.000  8/22/2018    CHF    68.100
Landesbank Baden-Wuerttemb    5.000  6/28/2019    EUR    71.240
Deutsche Bank AG              6.200  6/24/2019    EUR    72.990
DZ Bank AG Deutsche Zentra   11.750   1/2/2019    EUR    73.130
Raiffeisen Schweiz Genosse    4.200  5/22/2019    CHF    70.270
VTB Bank PJSC                 9.000 11/26/2043    RUB    62.010
SG Issuer SA                  0.800 10/21/2020    SEK    57.890
Leonteq Securities AG/Guer    5.000 12/27/2019    EUR    65.340
Landesbank Baden-Wuerttemb    3.150  6/22/2018    EUR    41.160
Landesbank Baden-Wuerttemb    3.300  6/22/2018    EUR    42.180
Raiffeisen Centrobank AG     10.627  9/25/2018    EUR    74.160
Raiffeisen Centrobank AG      8.635  9/25/2018    EUR    59.840
Raiffeisen Centrobank AG     10.627  9/25/2018    EUR    60.220
Raiffeisen Centrobank AG      7.970  9/25/2018    EUR    74.470
Landesbank Baden-Wuerttemb    3.000  9/28/2018    EUR    72.320
Landesbank Baden-Wuerttemb    4.000  9/28/2018    EUR    68.490
HSBC Trinkaus & Burkhardt     9.000  7/27/2018    EUR    68.600
DZ Bank AG Deutsche Zentra    6.000  6/22/2018    EUR    61.790
DZ Bank AG Deutsche Zentra    8.000  6/22/2018    EUR    58.920
Vontobel Financial Product   11.500  6/22/2018    EUR    52.970
Credit Suisse AG/Nassau       8.250  7/10/2018    EUR    65.960
UniCredit Bank AG            13.000  6/22/2018    EUR    72.040
UniCredit Bank AG             9.000  6/22/2018    EUR    72.160
UniCredit Bank AG            14.600  6/22/2018    EUR    59.160
Leonteq Securities AG         8.400  7/10/2018    CHF    45.140
Leonteq Securities AG        10.000  7/10/2018    USD    45.450
UniCredit Bank AG            14.000  6/22/2018    EUR    70.560
UniCredit Bank AG             3.500  6/22/2018    EUR    74.420
UniCredit Bank AG             4.700  6/22/2018    EUR    69.730
UniCredit Bank AG             4.000  6/22/2018    EUR    71.750
UniCredit Bank AG             5.400  6/22/2018    EUR    67.780
UniCredit Bank AG            10.800  6/22/2018    EUR    58.690
UniCredit Bank AG             7.000  6/22/2018    EUR    64.240
UniCredit Bank AG             8.800  6/22/2018    EUR    61.080
UniCredit Bank AG             7.900  6/22/2018    EUR    62.630
UniCredit Bank AG             9.800  6/22/2018    EUR    59.590
UniCredit Bank AG            11.800  6/22/2018    EUR    56.880
UniCredit Bank AG            10.700  6/22/2018    EUR    67.220
UniCredit Bank AG            11.700  6/22/2018    EUR    65.000
UniCredit Bank AG             9.800  6/22/2018    EUR    69.600
UniCredit Bank AG            12.600  6/22/2018    EUR    62.920
UniCredit Bank AG             8.100  6/22/2018    EUR    74.910
UniCredit Bank AG            15.000  6/22/2018    EUR    53.210
UniCredit Bank AG             6.200  6/22/2018    EUR    65.960
UniCredit Bank AG            13.900  6/22/2018    EUR    54.370
UniCredit Bank AG            12.800  6/22/2018    EUR    55.610
UniCredit Bank AG            12.000  6/22/2018    EUR    73.580
UniCredit Bank AG            13.600  6/22/2018    EUR    60.980
UniCredit Bank AG            14.900  6/22/2018    EUR    73.370
UniCredit Bank AG            13.800  6/22/2018    EUR    74.980
DZ Bank AG Deutsche Zentra    7.200  6/22/2018    EUR    74.240
DZ Bank AG Deutsche Zentra    9.900  6/22/2018    EUR    69.610
BNP Paribas Emissions- und    4.500  9/27/2018    EUR    74.030
BNP Paribas Emissions- und    5.000  9/27/2018    EUR    68.970
BNP Paribas Emissions- und    3.500  9/27/2018    EUR    62.860
DZ Bank AG Deutsche Zentra    5.250  6/22/2018    EUR    64.470
DZ Bank AG Deutsche Zentra    5.200  6/22/2018    EUR    71.910
DZ Bank AG Deutsche Zentra    5.300  6/22/2018    EUR    65.840
DZ Bank AG Deutsche Zentra    8.000  6/22/2018    EUR    61.420
DZ Bank AG Deutsche Zentra    9.500  6/22/2018    EUR    58.460
EFG International Finance     8.000  4/21/2020    USD    57.100
DZ Bank AG Deutsche Zentra    7.000  6/22/2018    EUR    70.700
DZ Bank AG Deutsche Zentra    6.500  6/22/2018    EUR    70.240
DZ Bank AG Deutsche Zentra    5.250  6/22/2018    EUR    65.030
Vontobel Financial Product   11.250  6/22/2018    EUR    63.710
Vontobel Financial Product    8.000  6/22/2018    EUR    63.840
BNP Paribas Emissions- und   12.000 12/31/2018    EUR    68.780
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    57.970
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    55.910
BNP Paribas Emissions- und   16.000  9/27/2018    EUR    50.480
BNP Paribas Emissions- und   18.000  9/27/2018    EUR    48.130
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    59.220
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    58.230
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    71.130
BNP Paribas Emissions- und    6.500  9/27/2018    EUR    71.760
BNP Paribas Emissions- und    8.000  9/27/2018    EUR    69.660
BNP Paribas Emissions- und   17.000  9/27/2018    EUR    60.030
BNP Paribas Emissions- und    6.500 12/31/2018    EUR    73.270
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    70.680
BNP Paribas Emissions- und   16.000  9/27/2018    EUR    67.970
BNP Paribas Emissions- und   14.000 12/31/2018    EUR    70.980
Deutsche Bank AG              4.200 10/24/2018    EUR    74.000
Deutsche Bank AG              4.200  6/25/2019    EUR    71.300
DZ Bank AG Deutsche Zentra    6.750  3/18/2019    EUR    66.880
DZ Bank AG Deutsche Zentra    7.500  9/24/2018    EUR    68.870
DZ Bank AG Deutsche Zentra    5.250   1/2/2019    EUR    71.430
Commerzbank AG                3.250 10/26/2018    EUR    49.930
Commerzbank AG               17.000  6/22/2018    EUR    72.350
Commerzbank AG               21.000  6/22/2018    EUR    66.840
Commerzbank AG               19.000  7/27/2018    EUR    62.800
Commerzbank AG               13.500  8/24/2018    EUR    71.640
Commerzbank AG               17.500  8/24/2018    EUR    64.700
Commerzbank AG               19.500  8/24/2018    EUR    62.240
Commerzbank AG               14.000  9/28/2018    EUR    70.230
Commerzbank AG               18.000  9/28/2018    EUR    63.960
Commerzbank AG               13.000 10/26/2018    EUR    72.020
Commerzbank AG               16.250 11/23/2018    EUR    66.320
Vontobel Financial Product    8.000 11/23/2018    EUR    60.410
Commerzbank AG                7.750  8/24/2018    EUR    70.720
Commerzbank AG                8.000  9/28/2018    EUR    70.660
Commerzbank AG               15.500  7/27/2018    EUR    37.870
Commerzbank AG                7.250 10/26/2018    EUR    47.630
Commerzbank AG                9.250 10/26/2018    EUR    44.650
Landesbank Hessen-Thuering    4.000  6/21/2019    EUR    64.200
Deutsche Bank AG              6.200  9/25/2018    EUR    70.100
Deutsche Bank AG              6.200  9/25/2018    EUR    64.400
Deutsche Bank AG              6.200 12/27/2018    EUR    71.500
Deutsche Bank AG              6.200 12/27/2018    EUR    65.900
Deutsche Bank AG              8.200  9/25/2018    EUR    70.600
Commerzbank AG               11.500  7/27/2018    EUR    65.960
Commerzbank AG               12.750  7/27/2018    EUR    70.810
Vontobel Financial Product    5.500   1/2/2019    EUR    72.620
Vontobel Financial Product    7.500   1/2/2019    EUR    69.000
Vontobel Financial Product    9.500   1/2/2019    EUR    65.880
Vontobel Financial Product   10.550   1/2/2019    EUR    64.530
Vontobel Financial Product   11.500   1/2/2019    EUR    63.240
Vontobel Financial Product    7.500  9/28/2018    EUR    67.190
Vontobel Financial Product   10.550  9/28/2018    EUR    63.730
DZ Bank AG Deutsche Zentra    6.500 12/24/2018    EUR    58.760
DZ Bank AG Deutsche Zentra    5.600  3/18/2019    EUR    68.660
DZ Bank AG Deutsche Zentra    5.400  9/24/2018    EUR    70.530
DZ Bank AG Deutsche Zentra    7.200  9/24/2018    EUR    66.560
DZ Bank AG Deutsche Zentra    6.800 12/24/2018    EUR    68.080
DZ Bank AG Deutsche Zentra    5.250  9/28/2018    EUR    69.170
DZ Bank AG Deutsche Zentra    5.250  3/22/2019    EUR    71.310
DZ Bank AG Deutsche Zentra    8.250   1/2/2019    EUR    65.470
DZ Bank AG Deutsche Zentra    8.500  9/28/2018    EUR    69.210
Commerzbank AG                9.500 10/26/2018    EUR    65.080
DZ Bank AG Deutsche Zentra    6.500  3/18/2019    EUR    60.180
Vontobel Financial Product    6.000  9/28/2018    EUR    44.950
Vontobel Financial Product    8.500  9/28/2018    EUR    41.870
Vontobel Financial Product   12.000  9/28/2018    EUR    39.630
Vontobel Financial Product    9.500   1/2/2019    EUR    41.460
Vontobel Financial Product   11.500   1/2/2019    EUR    40.610
Vontobel Financial Product    5.550  9/28/2018    EUR    71.510
Commerzbank AG                7.000   1/2/2019    EUR    72.030
Commerzbank AG                8.000   1/2/2019    EUR    69.850
Commerzbank AG                9.000   1/2/2019    EUR    68.410
Commerzbank AG               10.000   1/2/2019    EUR    66.970
Commerzbank AG               11.000   1/2/2019    EUR    65.560
Commerzbank AG               12.000   1/2/2019    EUR    64.610
Commerzbank AG               14.750   1/2/2019    EUR    70.410
Commerzbank AG               16.750   1/2/2019    EUR    68.170
Commerzbank AG                6.750   1/2/2019    EUR    70.720
Commerzbank AG                7.750   1/2/2019    EUR    69.710
Commerzbank AG                8.750   1/2/2019    EUR    68.830
Commerzbank AG               15.000  7/27/2018    EUR    59.790
Commerzbank AG               14.250  8/24/2018    EUR    60.790
Commerzbank AG               13.500  9/28/2018    EUR    61.900
Commerzbank AG               13.000 10/26/2018    EUR    62.710
Commerzbank AG               12.500 11/23/2018    EUR    63.500
Commerzbank AG               15.000  6/22/2018    EUR    63.990
Commerzbank AG               10.250  9/28/2018    EUR    44.790
Landesbank Baden-Wuerttemb    4.600  1/25/2019    EUR    59.910
BNP Paribas Emissions- und   15.000 12/31/2018    EUR    69.750
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    65.380
EFG International Finance    13.000  12/6/2018    EUR    71.770
Zurcher Kantonalbank Finan    4.750 11/30/2018    CHF    55.370
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    71.740
BNP Paribas Emissions- und   22.000  9/27/2018    EUR    63.200
BNP Paribas Emissions- und   13.000 12/31/2018    EUR    73.240
Bank Julius Baer & Co Ltd/    7.800 11/30/2018    USD    73.350
BNP Paribas Emissions- und    7.500  9/27/2018    EUR    67.230
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    59.540
BNP Paribas Emissions- und    7.500 12/31/2018    EUR    69.120
Commerzbank AG                5.750  6/22/2018    EUR    71.720
Vontobel Financial Product   10.550  9/28/2018    EUR    73.230
BNP Paribas Emissions- und   11.000 12/31/2018    EUR    70.360
Commerzbank AG               10.500 11/23/2018    EUR    42.700
Commerzbank AG               11.000  8/24/2018    EUR    62.740
Commerzbank AG               13.000  8/24/2018    EUR    60.740
Commerzbank AG               11.250  9/28/2018    EUR    62.800
Commerzbank AG               12.250  9/28/2018    EUR    61.790
Commerzbank AG                6.250 11/23/2018    EUR    70.880
Commerzbank AG               10.250 11/23/2018    EUR    64.430
Commerzbank AG                4.500 11/23/2018    EUR    53.450
Commerzbank AG                8.500 11/23/2018    EUR    44.780
Vontobel Financial Product    8.500   1/2/2019    EUR    70.560
Vontobel Financial Product    9.550  9/28/2018    EUR    63.530
Vontobel Financial Product   10.500   1/2/2019    EUR    64.190
Vontobel Financial Product   15.000   1/2/2019    EUR    66.520
DekaBank Deutsche Girozent    3.500 12/20/2018    EUR    58.610
DZ Bank AG Deutsche Zentra    8.250  3/20/2019    EUR    65.480
DZ Bank AG Deutsche Zentra    8.500 12/28/2018    EUR #N/A N/A
Rosselkhozbank JSC           12.870 12/21/2021    RUB    71.010
Vontobel Financial Product    8.500   1/2/2019    EUR    54.000
Vontobel Financial Product    7.500   1/2/2019    EUR    53.490
Vontobel Financial Product    4.050  9/14/2018    EUR    73.660
Vontobel Financial Product    9.800  9/14/2018    EUR    57.850
Deutsche Bank AG              6.200  3/19/2019    EUR    71.300
Deutsche Bank AG              6.200  6/25/2019    EUR    73.400
Goldman Sachs & Co Wertpap    7.000  9/26/2018    EUR    66.790
UniCredit Bank AG            14.600  6/22/2018    EUR    73.000
Deutsche Bank AG              5.200 12/24/2019    EUR    74.200
UniCredit Bank AG             8.100  6/22/2018    EUR    63.430
UniCredit Bank AG            10.000  6/22/2018    EUR    60.350
UniCredit Bank AG            13.100  6/22/2018    EUR    56.230
UniCredit Bank AG             9.000  6/22/2018    EUR    61.860
DZ Bank AG Deutsche Zentra   10.250  6/22/2018    EUR    62.750
DZ Bank AG Deutsche Zentra   10.750  8/24/2018    EUR    61.920
Raiffeisen Schweiz Genosse    7.600  8/22/2018    CHF    55.660
Deutsche Bank AG              4.200  9/25/2018    EUR    70.800
DZ Bank AG Deutsche Zentra    7.250  6/22/2018    EUR    70.650
DZ Bank AG Deutsche Zentra    8.250 12/24/2018    EUR    65.300
DZ Bank AG Deutsche Zentra    5.000 12/24/2018    EUR    66.990
DZ Bank AG Deutsche Zentra    6.250 12/24/2018    EUR    58.680
DZ Bank AG Deutsche Zentra   13.500  6/22/2018    EUR    58.590
UniCredit Bank AG            14.900  6/22/2018    EUR    57.540
UniCredit Bank AG            10.500  6/22/2018    EUR    44.040
UniCredit Bank AG             9.500  6/22/2018    EUR    64.440
UniCredit Bank AG            13.800  6/22/2018    EUR    71.120
DZ Bank AG Deutsche Zentra    6.800 12/24/2018    EUR    64.560
DZ Bank AG Deutsche Zentra    5.000  3/18/2019    EUR    64.750
DZ Bank AG Deutsche Zentra    9.750  6/22/2018    EUR    69.050
DZ Bank AG Deutsche Zentra    8.250   1/2/2019    EUR    67.260
DZ Bank AG Deutsche Zentra    7.250  6/22/2018    EUR    58.920
DZ Bank AG Deutsche Zentra    6.250  9/28/2018    EUR    54.400
Leonteq Securities AG/Guer   10.000  6/20/2019    CHF    74.490
DZ Bank AG Deutsche Zentra    6.400  9/24/2018    EUR    64.790
DZ Bank AG Deutsche Zentra    6.000 12/24/2018    EUR    66.110
DZ Bank AG Deutsche Zentra    4.600  3/18/2019    EUR    66.390
DZ Bank AG Deutsche Zentra   10.250  9/28/2018    EUR    71.670
DZ Bank AG Deutsche Zentra   10.500  6/22/2018    EUR    54.130
DZ Bank AG Deutsche Zentra    8.750   1/2/2019    EUR    44.850
DZ Bank AG Deutsche Zentra   12.250   1/2/2019    EUR    72.180
Vontobel Financial Product    5.050  9/28/2018    EUR    53.750
Vontobel Financial Product   11.550   1/2/2019    EUR    55.580
Vontobel Financial Product   13.500  9/28/2018    EUR    55.910
Vontobel Financial Product   12.550   1/2/2019    EUR    56.100
DZ Bank AG Deutsche Zentra    8.500  9/28/2018    EUR    60.630
BNP Paribas Emissions- und   13.000  9/27/2018    EUR    34.440
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    38.030
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    65.880
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    70.270
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    67.770
BNP Paribas Emissions- und   12.000  9/27/2018    EUR    66.970
BNP Paribas Emissions- und   16.000  9/27/2018    EUR    71.990
BNP Paribas Emissions- und    9.500  9/27/2018    EUR    72.510
BNP Paribas Emissions- und   12.000 12/31/2018    EUR    69.300
BNP Paribas Emissions- und    6.500  9/27/2018    EUR    73.600
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    72.140
BNP Paribas Emissions- und    8.000  9/27/2018    EUR    72.390
BNP Paribas Emissions- und    8.500  9/27/2018    EUR    71.000
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    74.380
BNP Paribas Emissions- und    7.500 12/31/2018    EUR    73.130
BNP Paribas Emissions- und    9.500 12/31/2018    EUR    69.970
Commerzbank AG               13.500  8/24/2018    EUR    36.380
Landesbank Baden-Wuerttemb    7.000 11/23/2018    EUR    71.410
Commerzbank AG                6.500  8/24/2018    EUR    68.190
Commerzbank AG                5.000 10/26/2018    EUR    72.590
Commerzbank AG                7.000 10/26/2018    EUR    68.070
HSBC Trinkaus & Burkhardt     5.900  9/28/2018    EUR    70.230
HSBC Trinkaus & Burkhardt     7.300 12/28/2018    EUR    69.320
HSBC Trinkaus & Burkhardt     5.600 12/28/2018    EUR    71.160
HSBC Trinkaus & Burkhardt     4.000  6/22/2018    EUR    74.910
HSBC Trinkaus & Burkhardt     9.600 12/28/2018    EUR    66.050
HSBC Trinkaus & Burkhardt    11.100  9/28/2018    EUR    68.830
Vontobel Financial Product   17.000  9/28/2018    EUR    69.280
Vontobel Financial Product   13.500  9/28/2018    EUR    68.390
DZ Bank AG Deutsche Zentra    8.250  3/18/2019    EUR    63.390
DZ Bank AG Deutsche Zentra    7.750  9/24/2018    EUR    66.010
Commerzbank AG               13.500  9/28/2018    EUR    39.050
Leonteq Securities AG/Guer   13.400  2/27/2019    EUR    67.900
DZ Bank AG Deutsche Zentra    8.500   1/2/2019    EUR    73.130
DZ Bank AG Deutsche Zentra    5.750  6/22/2018    EUR #N/A N/A
DZ Bank AG Deutsche Zentra   12.250  6/22/2018    EUR    73.640
DZ Bank AG Deutsche Zentra    4.250  9/28/2018    EUR    73.190
Commerzbank AG               13.250 10/26/2018    EUR    41.050
Commerzbank AG                7.000  9/28/2018    EUR    72.530
Commerzbank AG                5.250 10/26/2018    EUR    52.340
Commerzbank AG               11.250 10/26/2018    EUR    42.590
Deutsche Bank AG              4.200  9/25/2018    EUR    69.600
Deutsche Bank AG              4.200  9/25/2018    EUR    63.900
Deutsche Bank AG              4.200 12/27/2018    EUR    70.500
Deutsche Bank AG              4.200 12/27/2018    EUR    64.900
Commerzbank AG                8.750  8/24/2018    EUR    68.540
Commerzbank AG               17.000  6/22/2018    EUR    40.960
Deutsche Bank AG              8.200 12/27/2018    EUR    72.500
Deutsche Bank AG              8.200  9/25/2018    EUR    68.400
Deutsche Bank AG              8.200 12/27/2018    EUR    70.000
Vontobel Financial Product    7.500   1/2/2019    EUR    71.550
Vontobel Financial Product   10.000 11/23/2018    EUR    64.300
Vontobel Financial Product   14.000  9/28/2018    EUR    60.920
Vontobel Financial Product    6.500   1/2/2019    EUR    70.750
Vontobel Financial Product    8.550   1/2/2019    EUR    67.400
Vontobel Financial Product   13.000   1/2/2019    EUR    62.340
Vontobel Financial Product    6.500  9/28/2018    EUR    69.260
Vontobel Financial Product    9.050  9/28/2018    EUR    65.400
Vontobel Financial Product   12.000  9/28/2018    EUR    62.180
DZ Bank AG Deutsche Zentra    6.300  9/24/2018    EUR    68.400
DZ Bank AG Deutsche Zentra    6.100 12/24/2018    EUR    69.730
DZ Bank AG Deutsche Zentra    5.100  3/18/2019    EUR    70.290
DZ Bank AG Deutsche Zentra    5.000   1/2/2019    EUR    68.430
DZ Bank AG Deutsche Zentra    7.750  6/22/2018    EUR    69.660
Commerzbank AG                6.750  6/22/2018    EUR    68.700
Commerzbank AG               26.750  6/22/2018    EUR    66.560
DZ Bank AG Deutsche Zentra    5.000  3/18/2019    EUR    61.870
Vontobel Financial Product   14.550  9/28/2018    EUR    38.450
Vontobel Financial Product    4.500  9/28/2018    EUR    73.910
Zurcher Kantonalbank Finan    6.509  10/5/2018    CHF    44.630
Kontsessii Vodosnabzheniya   12.000   4/7/2031    RUB    62.430
Araratbank OJSC               7.000  6/18/2019    USD    25.545
Leonteq Securities AG        10.200 10/24/2018    EUR    63.820
Raiffeisen Schweiz Genosse    6.500   7/2/2018    USD    69.940
Leonteq Securities AG         8.400  9/27/2018    USD    45.140
Landesbank Hessen-Thuering    4.000 10/14/2020    EUR    67.790
DZ Bank AG Deutsche Zentra   15.000  8/22/2018    EUR    70.590
Vontobel Financial Product    7.550  6/22/2018    EUR    71.980
Commerzbank AG               19.000 10/26/2018    EUR    70.130
Commerzbank AG               18.000 11/23/2018    EUR    71.300
HSBC Trinkaus & Burkhardt     4.200 12/28/2018    EUR    71.170
Deutsche Bank AG              5.200  7/25/2018    EUR    73.300
Deutsche Bank AG              5.200  7/25/2018    EUR    63.600
Deutsche Bank AG              5.200 12/27/2018    EUR    69.500
HSBC Trinkaus & Burkhardt     5.600 12/28/2018    EUR    68.760
Commerzbank AG                3.000 11/23/2018    EUR    63.580
BNP Paribas Emissions- und    9.500  9/27/2018    EUR    70.930
BNP Paribas Emissions- und    8.500 12/31/2018    EUR    72.530
Deutsche Bank AG              4.200 10/24/2018    EUR    68.900
Deutsche Bank AG              4.200 11/21/2018    EUR    69.300
Deutsche Bank AG              4.200  3/19/2019    EUR    71.200
DZ Bank AG Deutsche Zentra    4.750  3/18/2019    EUR    72.430
DZ Bank AG Deutsche Zentra    6.200  3/18/2019    EUR    73.850
DZ Bank AG Deutsche Zentra    5.250 12/24/2018    EUR    69.640
DZ Bank AG Deutsche Zentra    5.000  3/18/2019    EUR    70.640
Commerzbank AG               19.000  6/22/2018    EUR    69.380
Commerzbank AG               15.000  7/27/2018    EUR    68.850
Commerzbank AG               17.000  7/27/2018    EUR    65.460
Commerzbank AG               21.000  7/27/2018    EUR    60.390
Commerzbank AG               23.000  7/27/2018    EUR    58.380
Commerzbank AG               15.500  8/24/2018    EUR    67.850
Commerzbank AG               21.500  8/24/2018    EUR    59.900
Commerzbank AG               16.000  9/28/2018    EUR    66.770
Commerzbank AG               20.000  9/28/2018    EUR    61.520
Commerzbank AG               15.000 10/26/2018    EUR    68.270
Commerzbank AG               17.000 10/26/2018    EUR    65.250
Commerzbank AG               19.000 10/26/2018    EUR    62.710
Commerzbank AG               14.250 11/23/2018    EUR    69.440
Commerzbank AG               18.250 11/23/2018    EUR    63.580
Vontobel Financial Product    7.500 11/23/2018    EUR    71.830
DZ Bank AG Deutsche Zentra    5.250   1/2/2019    EUR    66.840
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    38.600
BNP Paribas Emissions- und    7.000 12/31/2018    EUR    40.430
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    39.150
BNP Paribas Emissions- und    7.500  9/27/2018    EUR    70.430
BNP Paribas Emissions- und    6.500 12/31/2018    EUR    71.520
BNP Paribas Emissions- und   15.000  9/27/2018    EUR    68.840
Vontobel Financial Product    7.000  1/25/2019    EUR    66.760
BNP Paribas Emissions- und   14.000  9/27/2018    EUR    66.690
BNP Paribas Emissions- und   11.000 12/31/2018    EUR    70.920
BNP Paribas Emissions- und    9.500  6/27/2019    EUR    73.770
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    69.210
BNP Paribas Emissions- und    9.000 12/31/2018    EUR    71.740
BNP Paribas Emissions- und   11.000 12/31/2018    EUR    68.210
Leonteq Securities AG/Guer    8.000 12/27/2019    EUR    66.640
EFG International Finance    10.000 12/28/2018    EUR    69.640
Landesbank Hessen-Thuering    7.250  3/15/2023    EUR    69.490
Raiffeisen Schweiz Genosse    8.750 12/27/2018    CHF    48.910
Commerzbank AG                4.500  6/22/2018    EUR    73.370
Commerzbank AG                5.500  8/24/2018    EUR    70.370
Commerzbank AG                5.750  9/28/2018    EUR    70.130
Commerzbank AG                6.000 10/26/2018    EUR    70.180
Commerzbank AG                8.000 10/26/2018    EUR    66.380
HSBC Trinkaus & Burkhardt    16.000  6/22/2018    EUR    70.140
Vontobel Financial Product   15.550  9/28/2018    EUR    68.910
DZ Bank AG Deutsche Zentra    8.250 12/24/2018    EUR    61.570
DZ Bank AG Deutsche Zentra    8.750 12/24/2018    EUR    68.430
EFG International Finance    12.600 11/29/2018    EUR    65.020
DZ Bank AG Deutsche Zentra    5.250  3/22/2019    EUR    64.900
DZ Bank AG Deutsche Zentra   13.000  6/22/2018    EUR    71.590
DZ Bank AG Deutsche Zentra   12.250  6/22/2018    EUR    70.040
DZ Bank AG Deutsche Zentra    8.000  6/22/2018    EUR    70.000
DZ Bank AG Deutsche Zentra    9.250  6/22/2018    EUR    67.210
Commerzbank AG               13.000  3/13/2023    USD     9.250
Raiffeisen Schweiz Genosse    5.000  8/29/2018    CHF    73.230
BNP Paribas Emissions- und    8.000 12/31/2018    EUR    40.310
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    41.330
DZ Bank AG Deutsche Zentra    4.750  9/24/2018    EUR    56.710
Bank Julius Baer & Co Ltd/    5.600  12/5/2018    CHF    75.050
BNP Paribas Emissions- und   19.000 12/31/2018    EUR    45.940
DZ Bank AG Deutsche Zentra    8.250 12/24/2018    EUR    62.410
HSBC Trinkaus & Burkhardt     7.000 12/28/2018    EUR    60.900
BNP Paribas Emissions- und   13.000 12/31/2018    EUR    42.870
DekaBank Deutsche Girozent    3.000   1/7/2019    EUR    67.110
Credit Suisse AG/London       9.000  1/23/2020    USD     7.920
Vontobel Financial Product    6.500   1/2/2019    EUR    70.470
Raiffeisen Schweiz Genosse   10.000 12/31/2024    CHF    71.940
Vontobel Financial Product    7.000 12/27/2019    EUR    68.260
Vontobel Financial Product    9.500  9/28/2018    EUR    68.300
Polski Bank Spoldzielczy w    4.780  6/18/2020    PLN    50.000
BNP Paribas Emissions- und    3.000 12/31/2018    EUR    71.480
Vontobel Financial Product    6.000   1/2/2019    EUR    65.040
UniCredit Bank AG             3.500  1/29/2020    EUR    47.810
Vontobel Financial Product    7.500   1/2/2019    EUR    65.820
Vontobel Financial Product    8.000  9/28/2018    EUR    67.870
Vontobel Financial Product    8.500   1/2/2019    EUR    67.380
Vontobel Financial Product   10.000   1/2/2019    EUR    68.200
UniCredit Bank AG             3.500 12/19/2019    EUR    51.250
EFG International Finance     7.000 11/27/2019    EUR    10.020
Commerzbank AG                8.250 10/26/2018    EUR    69.540
Commerzbank AG                9.500  9/28/2018    EUR    67.940
Landesbank Hessen-Thuering    4.250   7/9/2019    EUR    62.800
Vontobel Financial Product    6.550  9/28/2018    EUR    67.450
Vontobel Financial Product   10.500   1/2/2019    EUR    55.040
Vontobel Financial Product    5.500   1/2/2019    EUR    52.450
Vontobel Financial Product   10.500  9/28/2018    EUR    55.140
Raiffeisen Schweiz Genosse    3.000  9/22/2020    CHF    73.580
DekaBank Deutsche Girozent    2.750  7/17/2019    EUR    48.050
HSBC Trinkaus & Burkhardt     9.900 12/28/2018    EUR    63.960
Vontobel Financial Product    2.850  9/21/2018    EUR    73.440
Vontobel Financial Product   12.000 12/14/2018    EUR    61.220
Vontobel Financial Product   14.900 12/14/2018    EUR    70.200
HSBC Trinkaus & Burkhardt     5.600  8/24/2018    EUR    68.720
Vontobel Financial Product    9.400 12/14/2018    EUR    63.460
Vontobel Financial Product   10.700 12/14/2018    EUR    62.280
Vontobel Financial Product   12.000  9/14/2018    EUR    72.190
HSBC Trinkaus & Burkhardt     7.700 12/28/2018    EUR    67.090
HSBC Trinkaus & Burkhardt     5.800  3/22/2019    EUR    71.600
HSBC Trinkaus & Burkhardt     5.800 11/23/2018    EUR    70.050
Vontobel Financial Product   15.450  9/14/2018    EUR    69.240
HSBC Trinkaus & Burkhardt     5.000 12/28/2018    EUR    72.020
Vontobel Financial Product   12.800  9/21/2018    EUR    71.490
Vontobel Financial Product   13.800 12/14/2018    EUR    71.310
HSBC Trinkaus & Burkhardt    10.600  6/22/2018    EUR    42.910
UniCredit Bank AG             3.750   9/7/2020    EUR    44.710
HSBC Trinkaus & Burkhardt     5.400  9/28/2018    EUR    46.420
Vontobel Financial Product    7.000 11/23/2018    EUR    66.160
DZ Bank AG Deutsche Zentra    8.250   1/2/2019    EUR    64.530
UniCredit Bank AG             4.600   7/2/2018    EUR    33.350
Landesbank Hessen-Thuering    4.000   4/8/2019    EUR    67.340
Vontobel Financial Product    3.050 12/14/2018    EUR    69.910
Vontobel Financial Product    4.100 12/14/2018    EUR    62.750
Deutsche Bank AG              6.200  9/24/2018    EUR    70.370
UniCredit Bank AG             3.750  10/2/2020    EUR    42.640
DZ Bank AG Deutsche Zentra   11.250   1/2/2019    EUR    61.390
Vontobel Financial Product    4.400 12/14/2018    EUR    66.770
Vontobel Financial Product    5.450 12/14/2018    EUR    68.230
Landesbank Baden-Wuerttemb    8.000  6/22/2018    EUR    64.420
Landesbank Baden-Wuerttemb    2.000  6/22/2018    EUR    74.200
Landesbank Baden-Wuerttemb    3.000  6/28/2019    EUR    43.750
Commerzbank AG               11.250  6/22/2018    EUR    71.390
UBS AG/London                 5.200   1/3/2019    EUR    70.330
Deutsche Bank AG              6.200  9/24/2018    EUR    73.170
Deutsche Bank AG              6.200  9/24/2018    EUR    70.370
Deutsche Bank AG              6.200  3/18/2019    EUR    72.550
Deutsche Bank AG              6.200 12/24/2018    EUR    71.540
Deutsche Bank AG              6.200  9/24/2018    EUR    73.170
Deutsche Bank AG              6.200 12/24/2018    EUR    71.540
UniCredit Bank AG             5.000  6/25/2019    EUR    36.840
Vontobel Financial Product    9.500 11/23/2018    EUR    39.900
Deutsche Bank AG              4.200  9/24/2018    EUR    69.860
DekaBank Deutsche Girozent    2.750  9/18/2018    EUR    65.810
Landesbank Hessen-Thuering    4.000  4/30/2019    EUR    38.240
Vontobel Financial Product    6.400 12/14/2018    EUR    55.380
Vontobel Financial Product    7.600 12/14/2018    EUR    55.940
UniCredit Bank AG             4.100  11/7/2018    EUR    72.470
UniCredit Bank AG             5.000  11/5/2018    EUR    59.490
Vontobel Financial Product    8.800 12/14/2018    EUR    56.500
Vontobel Financial Product    6.600 12/14/2018    EUR    67.800
Vontobel Financial Product    8.450 12/14/2018    EUR    64.830
Deutsche Bank AG              6.200  3/18/2019    EUR    72.550
Deutsche Bank AG              6.200  6/24/2019    EUR    72.990
EFG International Finance     7.200  2/25/2019    EUR     4.460
Vontobel Financial Product    7.750 12/14/2018    EUR    69.380
Landesbank Baden-Wuerttemb    3.350  6/22/2018    EUR    66.490
Leonteq Securities AG         5.000   5/7/2019    CHF    70.230
UBS AG/London                 6.000  3/28/2019    EUR    67.670
Deutsche Bank AG              4.200  6/24/2019    EUR    73.360
Deutsche Bank AG              4.200  6/24/2019    EUR    70.970
Deutsche Bank AG              4.200  9/24/2018    EUR    69.860
Deutsche Bank AG              4.200 12/24/2018    EUR    73.180
Deutsche Bank AG              4.200 12/24/2018    EUR    70.530
Deutsche Bank AG              4.200  3/18/2019    EUR    71.070
Bank Julius Baer & Co Ltd/    8.550 12/12/2018    CHF    50.550
Deutsche Bank AG              4.200  9/24/2018    EUR    72.660
Deutsche Bank AG              4.200  9/24/2018    EUR    72.660
Deutsche Bank AG              4.200 12/24/2018    EUR    70.530
Deutsche Bank AG              4.200  6/24/2019    EUR    73.360
Koncessii Teplosnabzheniya   11.000 11/11/2032    RUB    62.120
Deutsche Bank AG              4.200  3/18/2019    EUR    71.070
Deutsche Bank AG              4.200  6/24/2019    EUR    70.970
Zurcher Kantonalbank Finan    3.000 12/12/2018    CHF    48.120
EFG International Finance     6.400   4/9/2020    EUR    73.600
Landesbank Hessen-Thuering    8.000  5/15/2020    EUR    66.110
Vontobel Financial Product    8.250  9/28/2018    EUR    69.010
VTB Bank PJSC                 9.000   9/1/2044    RUB    62.010
Raiffeisen Switzerland BV     9.000   4/1/2019    EUR     9.570
SG Issuer SA                  0.820   8/2/2021    SEK    56.210
Commerzbank AG                7.250 10/26/2018    EUR    70.720
Commerzbank AG                9.250 10/26/2018    EUR    68.430
Commerzbank AG               10.250  8/24/2018    EUR    66.820
Vontobel Financial Product    8.000   1/2/2019    EUR    59.280
Vontobel Financial Product   10.000   1/2/2019    EUR    59.120
BNP Paribas Emissions- und   17.000 12/31/2018    EUR    67.720
BNP Paribas Emissions- und   13.000 12/31/2018    EUR    52.990
BNP Paribas Emissions- und   15.000 12/31/2018    EUR    51.210
Deutsche Bank AG              3.200  3/19/2019    EUR    69.500
UBS AG/London                 8.400   1/3/2019    EUR    63.820
EFG International Finance    11.000 12/20/2018    EUR    62.480
UniCredit Bank AG             5.500   1/4/2019    EUR    70.250
UniCredit Bank AG            15.000   1/4/2019    EUR    72.580
UBS AG/London                12.900   1/3/2019    EUR    72.850
UBS AG/London                 7.000   1/3/2019    EUR    67.030
UBS AG/London                19.000   1/3/2019    EUR    57.780
DekaBank Deutsche Girozent    2.750 10/29/2018    EUR    34.260
UBS AG/London                 5.600  6/27/2019    EUR    71.980
UBS AG/London                 5.600  9/26/2019    EUR    72.900
UniCredit Bank AG             5.000  7/30/2018    EUR    38.760
UBS AG/London                13.100   1/3/2019    EUR    59.880
UBS AG/London                14.700   1/3/2019    EUR    71.490
Landesbank Baden-Wuerttemb    4.000  6/22/2018    EUR    37.990
UBS AG/London                 4.800  3/28/2019    EUR    71.010
Landesbank Baden-Wuerttemb    3.000  7/26/2019    EUR    49.620
UBS AG/London                 8.750   6/6/2019    EUR    64.150
UBS AG/London                 5.000  9/27/2018    EUR    69.090
DekaBank Deutsche Girozent    2.800  5/13/2019    EUR    73.120
Raiffeisen Schweiz Genosse    4.300   6/5/2019    CHF    70.450
UniCredit Bank AG            12.700  9/28/2018    EUR    68.860
UniCredit Bank AG            14.900  9/28/2018    EUR    61.420
UniCredit Bank AG            13.300  9/28/2018    EUR    62.790
Deutsche Bank AG              3.200  6/25/2019    EUR    69.300
UniCredit Bank AG             7.600  9/28/2018    EUR    64.520
UniCredit Bank AG             3.800  7/23/2020    EUR    43.580
UniCredit Bank AG            14.400  9/28/2018    EUR    72.430
UniCredit Bank AG             6.300  9/28/2018    EUR    70.000
UniCredit Bank AG            12.800   1/4/2019    EUR    69.370
Landesbank Baden-Wuerttemb    3.000  6/22/2018    EUR    64.270
Landesbank Baden-Wuerttemb    3.500  7/27/2018    EUR    38.160
Leonteq Securities AG/Guer   10.600  3/15/2019    CHF    51.150
Vontobel Financial Product    5.400   1/6/2020    EUR    73.250
UniCredit Bank AG            11.800  9/28/2018    EUR    64.320
Landesbank Baden-Wuerttemb    3.000  8/24/2018    EUR    53.880
Landesbank Baden-Wuerttemb    3.200  7/27/2018    EUR    53.070
Landesbank Baden-Wuerttemb   12.400 11/23/2018    EUR    40.740
Landesbank Baden-Wuerttemb    5.000  6/22/2018    EUR    68.740
BNP Paribas Emissions- und    7.000  9/27/2018    EUR    70.700
BNP Paribas Emissions- und   10.000  9/27/2018    EUR    73.000
BNP Paribas Emissions- und    9.500 12/31/2018    EUR    74.150
BNP Paribas Emissions- und    9.500  9/27/2018    EUR    72.200
BNP Paribas Emissions- und    8.500 12/31/2018    EUR    73.680
BNP Paribas Emissions- und   10.000 12/31/2018    EUR    68.940
Deutsche Bank AG              4.200  9/25/2018    EUR    69.300
Deutsche Bank AG              4.200  9/25/2018    EUR    67.400
Deutsche Bank AG              4.200  9/25/2018    EUR    63.100
Deutsche Bank AG              4.200 12/27/2018    EUR    68.000
Deutsche Bank AG              6.200 12/27/2018    EUR    64.900
EFG International Finance     7.200  10/5/2020    USD    68.420
Raiffeisen Centrobank AG      7.653  3/19/2019    EUR    69.220
UBS AG/London                13.250   9/6/2018    CHF    51.000
Goldman Sachs & Co Wertpap   21.000  1/23/2019    EUR    67.560
Goldman Sachs & Co Wertpap   13.000  2/20/2019    EUR    71.870
Goldman Sachs & Co Wertpap   16.000 10/24/2018    EUR    68.760
Goldman Sachs & Co Wertpap   23.000 11/21/2018    EUR    66.540
Goldman Sachs & Co Wertpap    7.000  1/23/2019    EUR    72.770
Goldman Sachs & Co Wertpap    7.000  2/20/2019    EUR    73.170
Goldman Sachs & Co Wertpap    6.000  6/26/2019    EUR    72.250
Goldman Sachs & Co Wertpap    7.000 11/21/2018    EUR    71.750
Goldman Sachs & Co Wertpap    7.000 12/28/2018    EUR    72.330
UBS AG/London                17.500  9/27/2018    EUR    65.270
UBS AG/London                10.400  9/27/2018    EUR    70.520
Lehman Brothers Treasury C    7.500  7/31/2013    GBP     2.571
Lehman Brothers Treasury C    7.320  7/31/2013    GBP     2.571
Lehman Brothers Treasury C    3.500  6/20/2011    EUR     2.571
Lehman Brothers Treasury C    5.500  6/22/2010    USD     6.000
Lehman Brothers Treasury C   10.000 10/22/2008    USD     2.571
Lehman Brothers Treasury C    3.450  5/23/2013    USD     2.571
Lehman Brothers Treasury C    7.500  2/14/2010    AUD     2.571
TransFin-M PAO               10.000  10/3/2024    RUB    63.000
Business-Consulting OAO       9.000  3/26/2020    RUB    62.380
Center-Invest Commercial B    8.500 11/13/2018    RUB    61.310
TransFin-M PAO               10.500  2/26/2025    RUB    63.000
Lehman Brothers Treasury C    4.600  11/9/2011    EUR     6.000
Lehman Brothers Treasury C    4.800 11/16/2012    HKD     2.571
Lehman Brothers Treasury C   12.220 11/21/2017    USD     2.571
Digital Invest OOO            7.350  4/21/2020    RUB     0.140
Lehman Brothers Treasury C   10.000  2/16/2009    CHF     2.571
Lehman Brothers Treasury C    5.375   2/4/2014    USD     2.571
Ladya-Finans LLC             12.000 10/29/2021    RUB    62.010
Societe Generale SA           0.500  5/22/2024    MXN    59.358
Lehman Brothers Treasury C    1.000  2/26/2010    USD     2.571
Oberoesterreichische Lande    0.300  4/25/2042    EUR    70.965
Lehman Brothers Treasury C   11.000  2/16/2009    CHF     2.571
Societe Generale SA           0.500  4/30/2023    RUB    71.171
Lehman Brothers Treasury C    5.500 11/30/2012    CZK     2.571
Aragon OOO                   10.250   5/4/2022    RUB    65.000
Lehman Brothers Treasury C    7.800  3/31/2018    USD     2.571
Lehman Brothers Treasury C    7.150  3/21/2013    USD     2.571
Lehman Brothers Treasury C    7.050   4/8/2015    USD     2.571
Lehman Brothers Treasury C    4.000  3/10/2011    EUR     2.571
Lehman Brothers Treasury C   11.750   3/1/2010    EUR     2.571
Digital Invest OOO            7.350   4/9/2021    RUB     0.170
Digital Invest OOO            7.350   4/7/2021    RUB     0.140
Lehman Brothers Treasury C    6.000  2/19/2023    USD     2.571
SAir Group                    6.250 10/27/2002    CHF    13.125
Lenenergo PJSC                7.850   7/9/2025    RUB    99.950
Lehman Brothers Treasury C    4.200  12/3/2008    HKD     6.000
Risland OOO                   9.250  1/10/2019    RUB     1.000
Finstone OOO                  9.250  1/10/2019    RUB   100.000
Lehman Brothers Treasury C    1.950  11/4/2013    EUR     2.571
Lehman Brothers Treasury C    4.870  10/8/2013    USD     2.571
Lehman Brothers Treasury C    4.680 12/12/2045    EUR     2.571
Lehman Brothers Treasury C    6.700  4/21/2011    USD     2.571
Lehman Brothers Treasury C    7.500  6/15/2017    USD     2.571
Kaupthing ehf                 5.250  7/18/2017    BGN     0.250
Lehman Brothers Treasury C    4.100  6/10/2014    SGD     6.000
Lehman Brothers Treasury C    2.480  5/12/2009    USD     2.571
Lehman Brothers Treasury C    4.000  5/30/2010    USD     2.571
TransFin-M PAO               12.500  8/11/2025    RUB    63.000
Lehman Brothers Treasury C    6.000 12/30/2017    EUR     2.571
Lehman Brothers Treasury C   10.000   8/2/2037    JPY     2.571
Lehman Brothers Treasury C   13.000  7/25/2012    EUR     2.571
Lehman Brothers Treasury C    8.050 12/20/2010    HKD     2.571
Lehman Brothers Treasury C    3.000  12/3/2012    EUR     2.571
Lehman Brothers Treasury C    7.060 12/29/2008    EUR     2.571
Lehman Brothers Treasury C    0.500 12/20/2017    USD     2.571
Lehman Brothers Treasury C    0.500 12/20/2017    AUD     2.571
Lehman Brothers Treasury C    9.300 12/21/2010    EUR     2.571
Lehman Brothers Treasury C    0.500 12/20/2017    USD     2.571
Lehman Brothers Treasury C   16.000  10/8/2008    CHF     2.571
Lehman Brothers Treasury C   14.900 11/16/2010    EUR     2.571
Lehman Brothers Treasury C    2.500  11/9/2011    CHF     2.571
Kaupthing ehf                 3.750  2/15/2024    ISK     0.250
Rosbank PJSC                  0.040  4/30/2024    RUB   100.000
National Capital JSC          9.250  4/22/2019    RUB   100.000
Nota-Bank OJSC               13.500   4/1/2016    RUB    31.500
Lehman Brothers Treasury C    3.000  8/13/2011    EUR     2.571
Lehman Brothers Treasury C    0.500 12/20/2017    AUD     6.000
Lehman Brothers Treasury C   11.000 12/20/2017    AUD     2.571
Lehman Brothers Treasury C    4.000   1/4/2011    USD     2.571
Lehman Brothers Treasury C    0.500 12/20/2017    AUD     2.571
Lehman Brothers Treasury C    8.800 12/27/2009    EUR     2.571
Lehman Brothers Treasury C    7.625  7/22/2011    HKD     2.571
Lehman Brothers Treasury C    6.720 12/29/2008    EUR     2.571
Lehman Brothers Treasury C    2.500  8/23/2012    GBP     2.571
Lehman Brothers Treasury C    4.000  7/27/2011    EUR     2.571
Lehman Brothers Treasury C    5.000  8/16/2017    EUR     6.000
United Confectioners Finan    8.000   4/3/2023    RUB    65.000
Lehman Brothers Treasury C    2.250  5/12/2009    USD     2.571
Lehman Brothers Treasury C    2.750 10/28/2009    EUR     2.571
Barclays Bank PLC             1.645   6/3/2041    USD    70.900
Lehman Brothers Treasury C    7.000  9/20/2011    USD     2.571
Lehman Brothers Treasury C   16.800  8/21/2009    USD     2.571
Lehman Brothers Treasury C    6.450  2/20/2010    AUD     2.571
Lehman Brothers Treasury C    6.600  5/23/2012    AUD     2.571
Lehman Brothers Treasury C   16.000 10/28/2008    USD     2.571
Lehman Brothers Treasury C    5.250   7/8/2014    EUR     2.571
Lehman Brothers Treasury C    4.000  8/11/2010    USD     6.000
Lehman Brothers Treasury C    4.300   6/4/2012    USD     2.571
Lehman Brothers Treasury C    6.250   9/5/2011    EUR     2.571
Lehman Brothers Treasury C    4.600   8/1/2013    EUR     2.571
Lehman Brothers Treasury C   14.100 11/12/2008    USD     2.571
Lehman Brothers Treasury C    6.000   8/7/2013    EUR     2.571
Lehman Brothers Treasury C    8.280  7/31/2013    GBP     2.571
Lehman Brothers Treasury C   12.000   7/4/2011    EUR     2.571
Lehman Brothers Treasury C    4.000   6/5/2011    USD     2.571
Barclays Bank PLC             1.988  12/1/2040    USD    72.885
Lehman Brothers Treasury C    7.500  5/30/2010    AUD     2.571
Lehman Brothers Treasury C   11.000   5/9/2020    USD     2.571
IDGC of Centre PJSC           9.320  8/14/2026    RUB    70.020
Lehman Brothers Treasury C   13.150 10/30/2008    USD     2.571
Center-Invest Commercial B    8.250  5/22/2019    RUB    61.910
Metalenergmontazh OOO        10.000   5/7/2020    RUB    63.070
Lehman Brothers Treasury C    4.500   3/7/2015    EUR     2.571
Kommunekredit                 0.500  5/11/2029    CAD    75.236
Lehman Brothers Treasury C    0.750  3/29/2012    EUR     2.571
Lehman Brothers Treasury C    7.000   6/6/2017    EUR     2.571
Banca Adriatica Spa           7.750  6/30/2018    EUR     1.237
Banca Adriatica Spa           8.000  6/30/2018    EUR     1.237
Lehman Brothers Treasury C    8.280  3/26/2009    USD     2.571
Lehman Brothers Treasury C    7.600  3/26/2009    EUR     2.571
Lehman Brothers Treasury C    2.000  5/17/2010    EUR     2.571
Invektor                      7.000  7/30/2019    RUB    63.000
Profit Garant Ltd             7.000  7/30/2019    RUB    94.300
Otkritie Holding JSC         10.000  9/17/2027    RUB     7.500
Lehman Brothers Treasury C    5.120  4/30/2027    EUR     2.571
Lehman Brothers Treasury C    4.100  8/23/2010    USD     2.571
Lehman Brothers Treasury C    4.150  8/25/2020    EUR     2.571
Lehman Brothers Treasury C    6.000  12/6/2016    USD     2.571
Lehman Brothers Treasury C    7.750  2/21/2016    EUR     2.571
Lehman Brothers Treasury C    4.900  7/28/2020    EUR     2.571
Lehman Brothers Treasury C    6.000  7/28/2010    EUR     2.571
Lehman Brothers Treasury C    6.000  7/28/2010    EUR     2.571
Lehman Brothers Treasury C    7.500   8/1/2035    EUR     2.571
Lehman Brothers Treasury C    7.000  7/11/2010    EUR     2.571
Lehman Brothers Treasury C    3.000   8/8/2017    EUR     2.571
Lehman Brothers Treasury C    6.500  5/16/2015    EUR     2.571
Lehman Brothers Treasury C    3.500  9/29/2017    EUR     2.571
Lehman Brothers Treasury C   10.000   1/4/2010    USD     2.571
Lehman Brothers Treasury C    0.010  9/20/2011    USD     2.571
Lehman Brothers Treasury C    1.500   2/8/2012    CHF     2.571
Lehman Brothers Treasury C    3.000  8/15/2017    EUR     2.571
Soyuz AKB OAO                13.000 11/22/2019    RUB    65.010
Lehman Brothers Treasury C    9.250  6/20/2012    USD     2.571
Societe Generale SA           0.000  6/26/2034    USD    57.334
Lehman Brothers Treasury C    3.000  9/13/2010    JPY     6.000
Lehman Brothers Treasury C   11.250 12/31/2008    USD     2.571
Lehman Brothers Treasury C   12.000  7/13/2037    JPY     2.571
Lehman Brothers Treasury C    8.500   7/6/2009    CHF     2.571
Lehman Brothers Treasury C    4.600   7/6/2016    EUR     2.571
Lehman Brothers Treasury C    7.500  9/13/2009    CHF     2.571
Lehman Brothers Treasury C    5.103  6/22/2046    EUR     2.571
Lehman Brothers Treasury C    4.500   8/2/2009    USD     2.571
Solomenskij Lesozavod ZAO    10.000  9/29/2021    RUB #N/A N/A
Lehman Brothers Treasury C    8.000  5/22/2009    USD     2.571
Lehman Brothers Treasury C    7.250  10/6/2008    EUR     2.571
Digital Invest OOO            7.350 10/22/2020    RUB     0.120
Lehman Brothers Treasury C    7.000 11/28/2008    CHF     2.571
Lehman Brothers Treasury C    4.500   3/6/2013    CHF     2.571
Lehman Brothers Treasury C    9.000  3/17/2009    GBP     2.571
Lehman Brothers Treasury C    4.000  4/24/2009    USD     2.571
Lehman Brothers Treasury C    9.000  6/13/2009    USD     2.571
Kaupthing ehf                 6.125  10/4/2016    USD     0.250
Lehman Brothers Treasury C    7.375  9/20/2008    EUR     2.571
Lehman Brothers Treasury C   10.500   8/9/2010    EUR     2.571
Lehman Brothers Treasury C    4.350   8/8/2016    SGD     6.000
Lehman Brothers Treasury C    8.000 12/27/2032    JPY     2.571
Lehman Brothers Treasury C    3.500  9/19/2017    EUR     2.571
KIT Finance Capital OOO       8.000  9/16/2026    RUB   100.000
Lehman Brothers Treasury C    4.820 12/18/2036    EUR     2.571
Lehman Brothers Treasury C    2.300  4/28/2014    JPY     2.571
Lehman Brothers Treasury C    3.000  6/23/2009    EUR     6.000
Lehman Brothers Treasury C    6.850 12/22/2008    EUR     2.571
Lehman Brothers Treasury C    3.630   3/2/2012    EUR     2.571
Lehman Brothers Treasury C    5.250 11/21/2009    USD     2.571
BTV Hybrid I GmbH             6.500               EUR    29.475
Kaupthing ehf                 7.500   2/1/2045    USD     0.259
Lehman Brothers Treasury C    5.000   8/1/2025    EUR     2.571
Lehman Brothers Treasury C    7.000  4/14/2009    EUR     2.571
Lehman Brothers Treasury C    6.000 10/24/2008    EUR     2.571
Lehman Brothers Treasury C    5.500  6/15/2009    CHF     2.571
Lehman Brothers Treasury C    8.000   8/3/2009    USD     2.571
Lehman Brothers Treasury C    1.500 10/25/2011    EUR     2.571
Lehman Brothers Treasury C    4.500  7/24/2014    EUR     2.571
Lehman Brothers Treasury C    5.750  6/15/2009    CHF     2.571
Lehman Brothers Treasury C    3.850  4/24/2009    USD     2.571
Lehman Brothers Treasury C   10.000  3/27/2009    USD     2.571
Lehman Brothers Treasury C    0.250  7/21/2014    EUR     2.571
Lehman Brothers Treasury C    7.500 10/24/2008    USD     2.571
Lehman Brothers Treasury C    4.950 10/25/2036    EUR     2.571
Lehman Brothers Treasury C    7.750  1/30/2009    EUR     2.571
Lehman Brothers Treasury C    5.000 10/24/2008    CHF     2.571
Lehman Brothers Treasury C    4.000 10/24/2012    EUR     2.571
Lehman Brothers Treasury C    4.000 11/24/2016    EUR     2.571
Lehman Brothers Treasury C    7.585 11/22/2009    MXN     6.000
Lehman Brothers Treasury C    4.000  4/13/2011    CHF     2.571
HSBC Bank PLC                 0.500  12/8/2026    AUD    73.456
Lehman Brothers Treasury C    4.700  3/23/2016    EUR     2.571
Lehman Brothers Treasury C    3.700   6/6/2009    EUR     2.571
Univer Capital LLC           12.000   3/6/2019    RUB    59.000
Lehman Brothers Treasury C    4.250  3/13/2021    EUR     2.571
Lehman Brothers Treasury C    0.500  2/16/2009    EUR     2.571
KIT Finance Capital OOO      10.900 10/13/2026    RUB   100.500
Lehman Brothers Treasury C    5.250  5/26/2026    EUR     2.571
KIT Finance Capital OOO       9.800  3/21/2022    RUB   100.500
Lehman Brothers Treasury C    2.000 11/16/2009    EUR     2.571
Lehman Brothers Treasury C    6.000  3/17/2011    EUR     2.571
Lehman Brothers Treasury C    4.700  3/23/2016    EUR     2.571
KIT Finance Capital OOO      10.530   9/4/2019    RUB    66.670
HSBC Bank PLC                 0.500  1/29/2027    NZD    74.134
Priam JSC                    11.000  12/3/2026    RUB    98.500
Digital Invest OOO            7.350  11/3/2020    RUB     0.140
Kommunalbanken AS             0.500 12/16/2020    TRY    65.854
TransFin-M PAO               10.500  6/17/2024    RUB    63.000
Lehman Brothers Treasury C    7.550 12/29/2008    USD     2.571
Lehman Brothers Treasury C    3.820 10/20/2009    USD     2.571
Lehman Brothers Treasury C    5.000  12/6/2011    EUR     2.571
KIT Finance Capital OOO      11.500  12/9/2026    RUB    98.900
Lehman Brothers Treasury C   13.000 12/14/2012    USD     2.571
Lehman Brothers Treasury C    4.100  5/20/2009    USD     2.571
Eiendomskreditt AS            4.420               NOK    56.982
Lehman Brothers Treasury C    2.370  7/15/2013    USD     2.571
Kaupthing ehf                 7.500  12/5/2014    ISK     0.250
Kaupthing ehf                 6.500  10/8/2010    ISK     0.250
Lehman Brothers Treasury C    2.300  6/27/2013    USD     2.571
Landes-Hypothekenbank Stei    0.023   3/7/2043    EUR    70.065
Lehman Brothers Treasury C    5.000  3/13/2009    EUR     2.571
Commerzbank AG                6.000  1/25/2019    EUR    72.460
Lehman Brothers Treasury C    6.500  7/24/2026    EUR     2.571
Lehman Brothers Treasury C    5.000  4/24/2017    EUR     2.571
Lehman Brothers Treasury C    7.390   5/4/2017    USD     2.571
Societe Generale SA           0.500   4/3/2023    RUB    71.753
Lehman Brothers Treasury C    4.500   5/2/2017    EUR     6.000
Lehman Brothers Treasury C    6.000  5/23/2018    CZK     2.571
Lehman Brothers Treasury C    4.000  5/17/2010    USD     2.571
Credit Suisse AG/London       3.000 11/15/2025    ZAR    66.093
Lehman Brothers Treasury C    5.000  2/28/2032    EUR     2.571
Lehman Brothers Treasury C    0.250 10/19/2012    CHF     2.571
Lehman Brothers Treasury C    3.500 10/24/2011    USD     2.571
Lehman Brothers Treasury C    1.680   3/5/2015    EUR     2.571
Lehman Brothers Treasury C    6.750   4/5/2012    EUR     2.571
Lehman Brothers Treasury C    0.800 12/30/2016    EUR     2.571
Lehman Brothers Treasury C    3.350 10/13/2016    EUR     2.571
Lehman Brothers Treasury C    4.250  5/15/2010    EUR     2.571
Lehman Brothers Treasury C    1.750   2/7/2010    EUR     2.571
Lehman Brothers Treasury C    6.000  6/21/2011    EUR     2.571
Lehman Brothers Treasury C    7.000  2/15/2012    EUR     2.571
Lehman Brothers Treasury C    4.100  2/19/2010    EUR     2.571
Lehman Brothers Treasury C    6.600  2/22/2012    EUR     2.571
Lehman Brothers Treasury C    4.690  2/19/2017    EUR     2.571
Lehman Brothers Treasury C    5.200  3/19/2018    EUR     2.571
Lehman Brothers Treasury C    6.000  5/12/2017    EUR     2.571
Lehman Brothers Treasury C    7.500   5/2/2017    EUR     2.571
Lehman Brothers Treasury C    3.500 10/31/2011    USD     2.571
Lehman Brothers Treasury C   18.250  10/2/2008    USD     2.571
Lehman Brothers Treasury C    3.400  9/21/2009    HKD     2.571
Lehman Brothers Treasury C    4.000 10/12/2010    USD     2.571
Lehman Brothers Treasury C    1.500 10/12/2010    EUR     2.571
Lehman Brothers Treasury C    7.000 10/22/2010    EUR     2.571
Rosbank PJSC                  0.020  4/30/2024    RUB    61.900
Rosbank PJSC                  0.010  4/30/2024    RUB    61.900
Lehman Brothers Treasury C    6.600   2/9/2009    EUR     2.571
Lehman Brothers Treasury C    0.500 12/20/2017    AUD     2.571
Lehman Brothers Treasury C    8.000 12/31/2010    USD     2.571
Lehman Brothers Treasury C    0.500 12/20/2017    USD     2.571
Lehman Brothers Treasury C    0.500 12/20/2017    USD     2.571
Lehman Brothers Treasury C   16.000 12/26/2008    USD     2.571
Lehman Brothers Treasury C    7.750   1/3/2012    AUD     2.571
Lehman Brothers Treasury C    3.100   6/4/2010    USD     2.571
Lehman Brothers Treasury C    2.500  8/15/2012    CHF     2.571
Lehman Brothers Treasury C    5.000 11/22/2012    EUR     2.571
Lehman Brothers Treasury C   16.000  11/9/2008    USD     2.571
Lehman Brothers Treasury C    7.600   3/4/2010    NZD     2.571
Lehman Brothers Treasury C   10.000  6/17/2009    USD     2.571
Lehman Brothers Treasury C   17.000   6/2/2009    USD     2.571
Lehman Brothers Treasury C   13.432   1/8/2009    ILS     2.571
Lehman Brothers Treasury C    3.000   6/3/2010    EUR     2.571
Societe Generale SA           0.500  6/12/2023    RUB    70.535
Lehman Brothers Treasury C    0.500   6/2/2020    EUR     2.571
Lehman Brothers Treasury C   11.000   7/4/2011    USD     2.571
Lehman Brothers Treasury C    5.500   7/8/2013    EUR     2.571
National Capital JSC          9.800  9/15/2020    RUB   100.000
Lehman Brothers Treasury C   10.600  4/22/2014    MXN     2.571
Lehman Brothers Treasury C   16.200  5/14/2009    USD     2.571
Lehman Brothers Treasury C    9.000   5/6/2011    CHF     2.571
Lehman Brothers Treasury C    5.000  2/15/2018    EUR     2.571
LBI HF                        8.650   5/1/2011    ISK     8.375
Heta Asset Resolution AG      0.378 12/31/2023    EUR    34.625
Lehman Brothers Treasury C    8.000  3/21/2018    USD     2.571
Lehman Brothers Treasury C    8.875  1/28/2011    HKD     6.000
TransFin-M PAO               11.000  6/23/2021    RUB    65.000
Lehman Brothers Treasury C   12.400  6/12/2009    USD     2.571
Lehman Brothers Treasury C    9.750  6/22/2018    USD     2.571
Lehman Brothers Treasury C   15.000   6/4/2009    CHF     2.571
Lehman Brothers Treasury C    2.000  6/28/2011    EUR     2.571
Lehman Brothers Treasury C    4.000  12/2/2012    EUR     2.571
Lehman Brothers Treasury C    9.500   4/1/2018    USD     2.571
SAir Group                    2.750  7/30/2004    CHF    13.125
Lehman Brothers Treasury C    2.300   6/6/2013    USD     2.571
Lehman Brothers Treasury C    1.460  2/19/2012    JPY     6.000



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/booksto order any title today.


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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Marites O. Claro, Rousel Elaine T. Fernandez, Joy A. Agravante,
Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A. Chapman,
Editors.

Copyright 2018.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$775 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Peter Chapman at 215-945-7000.


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