EFTA01410709.pdf

Account Number: Statement Period: 06/01/2015 - 06/30/2015 SOUTHERN TRUST COMPANY INC 6100 RED HOOK QUARTER B3 ST THOMAS VI 00802 Valuation at a Glance Beginning Account Value Adjusted Previous Account Value Dividends, Interest and Other Income Net Other Activity Net Change in Portfolio Ending Account Value Accrued Interest Your Client Advisor: DANIEL SABBA Commission Amount: $0.00 Estimated Annual Income This Period $8,015,841.16 8,015,841.16 109,247.59 0.00 36,092.35 $8,161,181.10 $23,129.84 $437,557.81 Year-to-Date $7,449,267.22 7,449,267.22 219,981.19 -24.00 491,956.69 $8,161,181.10 Asset Allocation USD Cash, Money Funds, and Bank Deposits Non-USD Cash, Money Funds, and Bank Deposits Non-USD Fixed Income USD Equities Account Total (Pie Chart) Prior Year-End 1,196,003.74 166,688.28 4,554,415.20 1,532,160.00 $7,449,267.22 Last Period 1,306,713.34 163,127.84 5,044,049.98 1,501,950.00 EFTA01410709 $8,015,841.16 See the Asset Allocation Disclosure and Footnotes section for important information regarding your Asset Allocation. 1,306,756.30 276,256.80 5,070,518.00 1,507,650.00 $8,161,181.10 This Period % Allocation 16.01% 3.39% 62.13% 18.47% 100.00% Please review your allocation periodically with your Client Advisor. Page 1 of 11 60097138CSF30023 EFTA01410710 Asset Allocation Disclosure and Footnotes All values are displayed in U.S. dollars based on interbank exchange rates as of 06/30/2015. Exchange rates can vary. Summary of Gains and Losses Long-Term Gain/Loss Realized This Period 0.00 Net Gain/Loss This summary excludes transactions where cost basis information is not available. For Your Information On June 5, 2014, the European Central Bank (the "ECB") introduced "negative interest rates". This negative interest rate applied to all deposits held at the ECB and other credit institutions. Effective February 1, 2015, the negative interest expense on any euro deposits will be charged to your account. The initial interest charge will be -.20% (20 basis points), and will reflect on your account statement as "Free Credit Balance Interest Charge". The interest will be reported on your Forms 1099 and/or 1042-S for tax year 2015. These rates are subject to change in response to market changes, and we may, in the future and based on our normal interest rate setting arrangements, begin to charge negative interest rates on additional foreign currency balances. Exchange Rate Table Currency BRITISH POUND USD Equivalent 1.5725 Currency per USD 0.6359 Exchange rates are based on interbank exchange rates as of 06/30/2015. Exchange rates can vary. Money Market Fund Detail Date Activity Type Sweep Money Market Fund DWS GOVERNMENT CASH INSTL Account Number: Current Yield: 0.04% Activity Ending: 06/30/15 05/30/15 06/30/15 06/30/15 Opening Balance Deposit Closing Balance Total All Money Market Funds INCOME REINVEST 1,306,713.34 42.96 1,306,713.34 EFTA01410711 1,306,756.30 $1,306,756.30 $1,306,756.30 Description Global Cash Currency BRITISH POUND Total Global Cash Balance Closing Balance 175,680.00 Amount in Base Currency USD 276,256.80 $276,256.80 0.00 Year-to-Date 0.00 0.00 Unrealized 77,972.85 77,972.85 Amount Balance Page 2 of 11 B0097138CSF30023 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410712 Statement Period: 06/01/2015 - 06/30/2015 Income and Expense Summary Dividend Income Equities Money Market Interest Income Bond Interest Total Dividends, Interest, Income and Expenses Portfolio Holdings U.S. DOLLARS Opening Date DWS GOVERNMENT CASH INSTL 05/30/15 Total Money Market Total Cash, Money Funds, and Bank Deposits Date Acquired Quantity Fixed Income (In Maturity Date Sequence) Corporate Bonds PETROLEOS DE VENEZUELA NOTES SENIOR ISIN#XS0460546525 5.000% 10/28/15 REG DTD 10/28/09 S & P Rating B+ 12/04/13 *,3,12 2,000,000.000 Total Corporate Bonds 2,000,000.000 Total Fixed Income 2,000,000.000 Page 3 of 11 80097138CSF3002 Account Number: SOUTHERN TRUST COMPANY INC $1,962,259.65 $1,962,000.00 -$259.65 $17,222.22 $100,000.00 Security Identifier: P7807HAF2 98.1130 1,962,259.65 98.1000 Original Cost Basis: $1,800,000.00 $1,962,259.65 1,962,000.00 $1,962,000.00 -259.65 -$259.65 17,222.22 $17,222.22 100,000.00 $100,000.00 EFTA01410713 5.09% Unit Cost Adjusted Cost Basis Quantity Cash, Money Funds, and Bank Deposits Money Market 1,306,756.300 0000001489 06/30/15 1,306,713.34 $1,306,713.34 $1,306,713.34 Market Price 1,306,756.30 $1,306,756.30 $1,306,756.30 Market Value 0.00 $0.00 $0.00 Unrealized Gain/Loss 214.06 $214.06 $214.06 Accrued Interest Estimated Annual Income Estimated Yield 0.04% 0.04% Account Number Activity Ending Opening Balance Closing Balance Accrued Income Income This Year 30-Day Yield Current Yield Current Period Taxable EFTA01410714 0.00 42.96 109,204.63 $109,247.59 Year-to-Date Non Taxable 0.00 0.00 0.00 $0.00 Taxable 60,562.50 214.06 159,204.63 $219,981.19 Non Taxable 0.00 0.00 0.00 $0.00 EFTA01410715 Portfolio Holdings (continued) U.S. DOLLARS (continued) Date Acquired Equities Quantity Preferred Stocks (Listed by expiration date) ALLY FINL INC FIX TO FLT DIV-8.50% FREQ-QTRLY CALLABLE @ 25.00 ON A QTRLY BASIS AFTER 05/15/2016 Dividend Option: Cash 06/11/13 *,13 Total Preferred Stocks Total Equities Total U.S. DOLLARS BRITISH POUND Description Cash, Money Funds, and Bank Deposits Global Cash Balance Total Cash, Money Funds, and Bank Deposits Description Fixed Income (In Maturity Date Sequence) Corporate Bonds NATIONWIDE BUILDING SOCIETY EURO ISSUE CONV GBP ISIN#XS1043181269 6.875% 09/20/88 REG DTD 03/11/14 S & P Rating BB+ Security Identifier: G63980UK3 Total Corporate Bonds : Total Fixed Income: 2,000,000.000 98.8400 1,976,800.00 3,108,518.00 2,000,000.000 2,000,000.000 1,976,800.00 3,108,518.00 1,976,800.00 3,108,518.00 GBP USD 3,756.83 5,907.62 GBP USD GBP USD 3,756.83 5,907.62 3,756.83 5,907.62 EFTA01410716 137,500.00 216,218.75 137,500.00 216,218.75 137,500.00 216,218.75 6.95% Quantity Unit Cost Cost Basis Market Price Market Value Unrealized Gain/Loss Estimated Annual Income Estimated Yield Security Identifier: ALLY PRB CUSIP: 02005N308 57,000.000 25.0780 1,429,417.50 $1,429,417.50 $1,429,417.50 Cost Basis $4,698,433.45 Quantity Opening Balance 106,920.00 106,920.00 Market Price 26.4500 1,507,650.00 $1,507,650.00 $1,507,650.00 Market Value $4,776,406.30 Closing Balance Currency 175,680.00 276,256.80 175,680.00 276,256.80 GBP USD GBP USD Market Value Currency 0.00 EFTA01410717 0.00 Accrued Interest Estimated Annual Income Estimated Yield 78,232.50 $78,232.50 $78,232.50 Unrealized Gain/Loss $77,972.85 Accrued Interest $17,222.22 Accrued Income 121,125.00 $121,125.00 $121,125.00 Estimated Annual Income $221,339.06 30-Day Yield 8.03% Page 4 of 11 B0097138CSF30023 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410718 Statement Period: 06/01/2015 - 06/30/2015 Portfolio Holdings (continued) BRITISH POUND (continued) Market Value Currency Total BRITISH POUND Cost Basis Total Portfolio Holdings - U.S. DOLLARS Footnotes * Noncovered under the cost basis rules as defined below. Securities acquired before 2011 or in retirement accounts are generally not subject to the new cost basis reporting rules set forth in the Internal Revenue Code of 1986, as amended ("IRC") (incorporating amendments enacted by P.L.110-343, the Emergency Economic Stabilization Act of 2008) and are, therefore, considered "noncovered," under the new cost basis reporting rules, and marked or denoted as such. All other securities in this section are securities which are "covered" under the new cost basis reporting rules. Securities which are "covered" under the new cost basis reporting rules are defined as non-retirement, US taxpayers securities which have been acquired on or after their "applicable date(s)" at which they are subject to the cost basis reporting rules and the adjusted basis will be reported to the IRS on form 1099-B for the applicable tax year in which the security is disposed. Reporting requirements generally will be phased in over a three-year period, as follows: • Stock in a corporation acquired on or after January 1, 2011 • Mutual funds and dividend reinvestment plan (DRP) shares acquired on or after January 1, 2012 • Options and any Debt Instruments that provide a simple fixed payment schedule for which a yield to maturity can be easily determined acquired on or after January 1, 2014. Cost Basis on fixed income securities may be adjusted for amortization, accretion, original issue discount adjustments, or principal paydowns. The calculation is based upon the taxpayer election, type of fixed income security, and certain attributes, obtained from sources believed to be reliable. In the event, one or more of these attributes is changed, there may be a temporary incorrect adjusted cost basis reflected until the cost basis system is amended to reflect this change. These calculations will not be performed under certain circumstances, including those involving foreign bonds, bonds sold short or bonds issued with less than one year to maturity. This information is meant as a general guide and you should consult your tax advisor in the preparation of your tax returns. 3 The cost basis of this security has been provided to us by you or your introducing firm and Pershing makes no representation as to the accuracy of this information. 12 Pershing has received updated cost basis information, therefore cost basis provided on previous client brokerage statements may differ from the new cost basis reported in this section. 13 The cost basis of this security has been provided to us by the delivering firm or transferring agent and Pershing makes no representation as to the accuracy of this information. EFTA01410719 $4,698,433.45 2,152,480.00 3,384,774.80 Market Value $8,161,181.10 GBP USD Unrealized Gain/Loss $77,972.85 Accrued Interest 3,756.83 5,907.62 Accrued Interest $23,129.84 Estimated Annual Income 137,500.00 216,218.75 Estimated Annual Income $437,557.81 Page 5 of 11 B0097138CSF30023 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410720 Holdings Summary by Currency Currency Cash U.S. DOLLARS BRITISH POUND Total USD Equivalent % of Allocation Messages Although a money market mutual fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in a money market mutual fund. Shares of a money market mutual fund or the balance of a bank deposit product held in your brokerage account may be liquidated upon request with the proceeds credited to your brokerage account. Please see the money market mutual fund's prospectus or the bank deposit product's disclosure document or contact your advisor for additional information. Please be advised that Reich & Tang Asset Management, LLC will be liquidating its funds (the "R&T Funds") by the end of July 2015 and as such the R&T Funds will no longer be available as money market funds in the DBSI cash sweep program (the "Sweep Program"). What this means for you: If you are currently invested in an R&T Fund, please refer to our earlier letter for more information about your available cash sweep options, or contact your client advisor. If you are not currently invested in the R&T Funds, this change will not affect the existing sweep for your uninvested cash balances and no action is required on your part. For information on all cash sweep options available in the Sweep Program, please visit our website at: http://wealth.deutscheawm.com/americas/en/- CashSweepOptions.html and click on "Cash Sweep Options-Rates". Activity Summary (All amounts shown are in base currency) Credits Dividends and Interest Fees Money Market Funds Total Credits 1,306,756 175,680 1,583,013 19.40% Fixed Income 1,962,000 1,976,800 5,070,518 62.13% Equities Total by Currency 1,507,650 0 1,507,650 EFTA01410721 18.47% 4,776,406 USD 2,152,480 GBP 8,161,181 USD 100.00% This Period $109,247.59 $0.00 $0.00 $109,247.59 Year-to-Date $219,981.19 $0.00 $24.00 $220,005.19 Debits Dividends and Interest Fees Money Market Funds Total Debits This Period $0.00 $0.00 $0.00 $0.00 Year-to-Date $0.00 -$24.00 -$80,408.52 -$80,432.52 Page 6 of 11 80097138CSF3002 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410722 Statement Period: 06/01/2015 - 06/30/2015 Transactions by Type of Activity Process/ Settlement Date Trade/ Transaction Date Dividends and Interest 06/30/15 Activity Type 06/20/15 FOREIGN BOND INTEREST G63980UK3 06/30/15 MONEY MARKET FUND INCOME RECEIVED 233993682 Total Dividends and Interest BRITISH POUND TOTAL USD EQUIVALENT UNITED STATES DOLLAR Transactions Summary BRITISH POUND UNITED STATES DOLLAR The price and quantity displayed may have been rounded. Client Service Information Your Client Advisor: DAN DANIEL SABBA 345 PARK AVENUE, 26TH FLOOR NEW YORK NY 10154 Total Accrued Interest 0.00 0.00 Total Amount Currency GBP USD 68,760.00 42.96 Total Accrued Interest USD Equivalent 0.00 0.00 Total Amount USD Equivalent 109,204.63 42.96 Description 2000000.00 SHARES NATIONWIDE BUILDING SOCIETY EURO ISSUE CONV GBP ISIN#XS1043181269 6.875% 09/20/88 REG DTD 03/11/14 CLB FOREIGN BOND INTEREST RD EFTA01410723 061915 PD 062015 AS OF 06/19/15 DWS GOVT CASH INSTL Quantity Price Accrued Interest Amount Currency 68,760.00 109,204.63 GBP USD 42.96 USD 0.00 0.00 0.00 68,760.00 GBP 109,204.63 USD 42.96 USD Page 7 of 11 80097138CSF3002 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410724 Your Account Information Tax Lot Default Disposition Method Default Method for Mutual Funds: FIRST IN FIRST OUT Default Method for Stocks in a Dividend Reinvestment Plan: FIRST IN FIRST OUT Default Method for all Other Securities: FIRST IN FIRST OUT Bond Amortization Elections: Treat all interest as original issue discount (OID): No Amortize premium on taxable bonds based on Constant Yield Method: Yes Accrual market discount method for all other bond types: Ratable Method Include market discount in income annually: No Electronic Delivery You have not selected any account communications for electronic delivery. To register and turn off paper communications, log in to your account or contact your Client Advisor for more information. Important Information and Disclosures Pricing This section includes the net market value of the securities in your account on a settlement date basis, including short positions, at the close of the statement period. The market prices, unless otherwise noted, have been obtained from independent vendor services, which we believe to be reliable. Market prices do not constitute a bid or an offer, and may differ from the actual sale price. Securities for which a price is not available are marked "N/A" and are omitted from the Total. THE AS OF PRICE DATE ONLY APPEARS WHEN THE PRICE DATE DOES NOT EQUAL THE STATEMENT DATE. Estimated Annual Figures The estimated annual income (EAI) and estimated annual yield (EAY) figures are estimates and for informational purposes only. These figures are not considered to be a forecast or guarantee of future results. These figures are computed using information from providers believed to be reliable; however, no assurance can be made as to the accuracy. Since interest and dividend rates are subject to change at any time, and may be affected by current and future economic, political, and business conditions, they should not be relied on for making investment, trading, or tax decisions. These figures assume that the position quantities, interest and dividend rates, and prices remain constant. A capital gain or return of principal may be included in the figures for certain securities, thereby overstating them. Refer to www.pershing.com/business_continuity.html for specific details as to formulas used to calculate the figures. Accrued interest represents interest earned but not yet received. Reinvestment The dollar amount of Mutual Fund distributions, Money Market Fund dividend income, Bank Deposit interest income, or dividends for other securities shown on your statement may have been reinvested. You will not receive confirmation of these reinvestments. Upon written request to your financial institution, information pertaining to these transactions, including the time of execution and the name of the person from whom your security was purchased, may be obtained. In dividend reinvestment transactions, Pershing acts as your agent and receives payment for order flow. EFTA01410725 Options Information with respect to commissions and other charges incurred in connection with the execution of option transactions has been included in confirmations previously furnished to you. A summary of this information is available to you promptly upon your written request directed to your introducing firm. In order to assist your introducing firm in maintaining current background and financial information concerning your option accounts, please promptly advise them in writing of any material change in your investment objectives or financial situation. Expiring options which are valuable are exercised automatically pursuant to the exercise by exception procedure of the Options Clearing Corporation. Additional information regarding this procedure is available upon written request to your introducing firm. Proxy Vote Securities not fully paid for in your margin account may be lent by Pershing to itself or others in accordance with the terms outlined in the Margin Agreement. The right to vote your shares held on margin may be reduced by the amount of shares on loan. The Proxy Voting Instruction Form sent to you may reflect a smaller number of shares entitled to vote than the number of shares in your margin account. Foreign Currency Transactions Pershing may execute foreign currency transactions as principal for your account. Pershing may automatically convert foreign currency to or from U.S. dollars for dividends and similar corporate action transactions unless you instruct your financial organization otherwise. Pershing's currency conversion rate will not exceed the highest interbank conversion rate identified from customary banking sources on the conversion date or the prior business day, increased by up to 1%, unless a particular rate is required by applicable law. Your financial organization may also increase the currency conversion rate. This conversion rate may differ from rates in effect on the date you executed a transaction, incurred a charge, or received a credit. Transactions converted by agents (such as depositories) will be billed at the rates such agents use. Ratings This statement may contain credit rating information obtained from Standard & Poor's. Reproducing and distributing any information received from Standard & Poor's is not permitted without prior written Page 8 of 11 80897138CSF3002 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410726 Statement Period: 06/01/2015 - 06/30/2015 Important Information and Disclosures (continued) Ratings (continued) authorization from Standard & Poor's. Standard & Poor's does not guarantee the accuracy, completeness, timeliness or availability of any information. Standard & Poor's is not responsible for any errors or omissions, regardless of the cause, or for the results of using such content. Standard & Poor's makes no express or implied warranties including warranties of merchantability or fitness for a particular purpose. Standard & Poor's shall not be legally responsible for any fees, costs, expenses or losses in connection with the use of their content. Credit ratings are opinions and not statements of facts; are not recommendations to purchase, hold or sell securities; and do not address suitability for investment purpose. Credit ratings should not be relied upon as investment advice. The Role of Pershing Pershing carries your account as clearing broker pursuant to a clearing agreement with your financial institution. Pershing may accept from your financial institution without inquiry or investigation (i) orders for the purchase and sale of securities and other property and (ii) any other instructions concerning your account. Pershing is not responsible or liable for any acts or omissions of your financial institution or its employees and it does not supervise them. Pershing provides no investment advice nor does it assess the suitability of any transaction or order. Pershing acts as the agent of your financial institution and you agree that you will not hold Pershing or any person controlling or under common control with it liable for any investment losses incurred by you. Pershing performs several key functions at the direction of your financial institution. It acts as custodian for funds and securities you may deposit with it directly or through your financial institution or that it receives as the result of securities transactions it processes. Your financial institution is responsible for adherence to the securities laws, regulations and rules which apply to it regarding its own operations and the supervision of your account, its sales representatives and other personnel. Your financial institution is also responsible for approving the opening of accounts and obtaining account documents; the acceptance and, in certain instances, execution of securities orders; the assessment of the suitability of those transactions, where applicable; the rendering of investment advice, if any, to you and in general, for the ongoing relationship that it has with you. Inquiries concerning the positions and balances in your account may be directed to the Pershing Customer Service Department at (201) 413-3333. All other inquiries regarding your account or activity should EFTA01410727 be directed to your financial institution. Your financial organization's contact information can be found on the first page of this statement. For a description of other functions performed by Pershing please consult the Disclosure Statement provided to you upon the opening of your account. This notice is not meant as a definitive enumeration of every possible circumstance, but as a general disclosure. If you have any questions regarding this notice or if you would like additional copies of the Disclosure Statement, please contact your financial institution. Pershing is a member of the Securities Investor Protection Corporation (SIPC® ). Please note that SIPC does not protect against loss due to market fluctuation. In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits. For more detailed information please visit: www.pershing.com/strength_stability.html. This statement will be deemed conclusive. You are advised to report any inaccuracy or discrepancy (including unauthorized trading) promptly, but no later than ten days after receipt of this statement, to your financial organization and Pershing. Please be advised that any oral communication should be re-confirmed in writing to further protect your rights, including your rights under the Securities Investor Protection Act. Your financial organization's contact information can be found on the first page of this statement. Pershing's contact information is as follows: Pershing LLC, Legal Department, One Pershing Plaza, Jersey City, New Jersey 07399; (201) 413-3330. Errors and Omissions excepted. Important Arbitration Disclosures All parties to this agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed. Arbitration awards are generally final and binding; a party's ability to have a court reverse or modify an arbitration award is very limited. The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings. The arbitrators do not have to explain the reason(s) for their award, unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date. • • • The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry. The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court. The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this agreement. EFTA01410728 Page 9 of 11 B0097138CSF30023 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410729 Important Information and Disclosures (continued) Important Arbitration Agreement Any controversy between you and Pershing LLC shall be submitted to arbitration before the Financial Industry Regulatory Authority. No person shall bring a putative or certified class action to arbitration, nor seek to enforce any predispute arbitration agreement against any person who has initiated in court a putative class action, who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until; (I) the class certification is denied; (II) the class is decertified; or (III) the client is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this agreement except to the extent stated herein. The laws of the State of New York govern. Pershing's contact information is as follows: Pershing LLC, Legal Department, One Pershing Plaza, Jersey City, New Jersey 07399; (201) 413-3330. Page 10 of 11 60097138CSF30023 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410730 Page 11 of 11 B0097138CSF30023 Account Number: SOUTHERN TRUST COMPANY INC EFTA01410731