| Stock | 99.92% |
| Cash | 0.05% |
| Other* | 0.04% |
*May include dividends booked but not yet received.
Holdings Detail as of 5/15/2012 (Holdings subject to change)
| Symbol | Name |
% Net Assets |
Market Value ($) |
ISIN | Market | Sector |
Exchange Rate |
|---|---|---|---|---|---|---|---|
| TEL | TELECOM CORP OF NEW ZEALAND | 16.98 | $20,013,055 | NZTELE0001S4 | XNZE | Telecom Services | 1.29 |
| FBU | FLETCHER BUILDING LTD | 14.23 | $16,778,190 | NZFBUE0001S0 | XNZE | Materials | 1.29 |
| AIA | AUCKLAND INTL AIRPORT LTD | 6.96 | $8,209,559 | NZAIAE0001S8 | XNZE | Industrials | 1.29 |
| SKC | SKY CITY ENTERTAINMENT GROUP | 6.00 | $7,070,945 | NZSKCE0001S2 | XNZE | Consumer Discretionary | 1.29 |
| CEN | CONTACT ENERGY LTD | 4.81 | $5,673,225 | NZCENE0001S6 | XNZE | Utilities | 1.29 |
| FPH | FISHER & PAYKEL HEALTHCARE C | 4.54 | $5,352,229 | NZFAPE0001S2 | XNZE | Health Care | 1.29 |
| SKT | SKY NETWORK TELEVISION LTD | 4.31 | $5,080,104 | NZSKTE0001S6 | XNZE | Consumer Discretionary | 1.29 |
| CNU | CHORUS LTD | 4.22 | $4,968,454 | NZCNUE0001S2 | XNZE | Telecom Services | 1.29 |
| RYM | RYMAN HEALTHCARE LIMITED | 3.93 | $4,631,915 | NZRYME0001S4 | XNZE | Health Care | 1.29 |
| ANO | AMP NZ OFFICE LTD | 3.84 | $4,527,459 | NZAPTE0001S3 | XNZE | Financials | 1.29 |
| IFT | INFRATIL LTD | 3.82 | $4,500,953 | NZIFTE0003S3 | XNZE | Utilities | 1.29 |
| GMT | GOODMAN PROPERTY TRUST | 3.80 | $4,478,342 | NZCPTE0001S9 | XNZE | Financials | 1.29 |
| KIP | KIWI INCOME PROPERTY TRUST | 3.64 | $4,289,375 | NZKIPE0001S5 | XNZE | Financials | 1.29 |
| VCT | VECTOR LTD | 3.43 | $4,045,124 | NZVCTE0001S7 | XNZE | Utilities | 1.29 |
| MFT | MAINFREIGHT LTD | 3.42 | $4,031,606 | NZMFTE0001S9 | XNZE | Industrials | 1.29 |
| FRE | FREIGHTWAYS LTD | 2.73 | $3,213,803 | NZFREE0001S0 | XNZE | Industrials | 1.29 |
| NPX | NUPLEX INDUSTRIES LIMITED | 2.01 | $2,368,198 | NZNPXE0001S8 | XNZE | Materials | 1.29 |
| WHS | WAREHOUSE GROUP LIMITED/THE | 1.54 | $1,818,887 | NZWHSE0001S6 | XNZE | Consumer Discretionary | 1.29 |
| AIR | AIR NEW ZEALAND LTD | 1.48 | $1,740,139 | NZAIRE0001S2 | XNZE | Industrials | 1.29 |
| TWR | TOWER LTD | 1.46 | $1,715,920 | NZTWRE0001S3 | XNZE | Financials | 1.29 |
| FPA | FISHER & PAYKEL APPLIANCES H | 1.22 | $1,438,814 | NZFPAE0001S2 | XNZE | Consumer Discretionary | 1.29 |
| NZO | NEW ZEALAND OIL & GAS LTD | 1.15 | $1,355,087 | NZNOGE0001S6 | XNZE | Energy | 1.29 |
| PGW | PGG WRIGHTSON LTD | 0.40 | $474,122 | NZREIE0001S4 | XNZE | Consumer Staples | 1.29 |
| -- | BLACKROCK FDS III | 0.05 | $54,752 | -- | S-T Securities | 1.00 |
