Spectrum Asset Management, Inc.

Spectrum Asset Management is a world-leading manager of preferred securities, with over US$11.3 billion in assets under management as of December 31, 2010. Spectrum was founded in 1987 and has been a wholly owned and independently run affiliate of Principal Global Investors, a member of the Principal Financial Group®, since 2001. Spectrum has a team of sixteen dedicated investment professionals and is based in Stamford, Connecticut. Spectrum manages portfolios of preferred securities for an international universe of corporate, pension fund, insurance and endowment clients, open-end and closed-end mutual funds domiciled in the United States, Ireland and Japan, and separately managed account programs for high net worth individual investors sponsored by a variety of broker-dealers. Spectrum has produced a record of strong performance by consistently implementing its fundamental credit-based investment philosophy, leveraging its expertise in capital structure analysis and employing and retaining its experienced team of investment professionals. Spectrum seeks to provide superior investment returns to investors in preferred securities by: * Employing a long-term, actively managed and diversified portfolio approach; * Emphasizing fundamental, qualitative and quantitative credit analyses to company and credit selection and relative value analysis to the individual security and sector selection; and * Taking advantage of the inefficiencies found in the retail-oriented $25 par market and as between the retail-oriented $25 par market and the institutional-oriented $1,000 par market. Spectrum believes that its global perspective, deep knowledge and extensive experience uniquely position the firm to assist investors seeking the income, total return and diversification potential offered by a professionally managed portfolio of preferred securities.

Address: 2 High Ridge Park, Stamford, Connecticut 06905, USA

Phone: +1 203 322 0189
FAX: +1 203 968 1455