PIA High Yield Fund

Class No Load (PHYSX)
Scorecard
---
Lipper ---
Zacks Investment Research
1 (Strong Buy)
Standard & Poor's
3 / 5 Stars
TheStreet.com
B+ (Buy)

Fund Holdings

Asset Allocation

% Long % Net
Cash 0.45 0.45
Stocks 0.0 0.0
Bonds 83.97 83.97
Other 0.0 0.0
Foreign Bonds 15.58 15.58
Foreign Stocks 0.0 0.0
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 03.31.2013

Top 10 Holdings

Performance as of 04.30.2013

Portfolio as of 03.31.2013

% Net Assets
Amer Gilsonite 144A 11.5% 2.14
Bumble Bee Acquisition 144A 9% 2.0
Transunion Hldg Co. 9.625% 1.93
Casella Waste Sys 7.75% 1.8
Cascades 7.75% 1.64
Accuride Corp New 9.5% 1.63
Rsc Equip Rent Inc / Rsc Hldgs 8.25% 1.63
Aep Inds 8.25% 1.56
Hexion U S Fin 6.625% 1.54
Kraton Polymers Llc / Kraton 6.75% 1.52

Bond Ratings (%)

Updated 03.31.2013

Sector PHYSX
AAA 0.9
AA 0.0
A 0.0
BBB 0.0
BB 17.2
B 58.7
Below B 22.1
Other 1.1
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