Amtrak 2013 Annual Report Download - page 99

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National Railroad Passenger Corporation and Subsidiaries (Amtrak)
Notes to Consolidated Financial Statements (continued)
1411-1359280 60
13. Postretirement Employee Benefits (continued)
Common/Collective Trust
This category (collectively “the Funds”) consists of an investment in the Thornburg International
Equity Fund (the “Thornburg Fund”), Eaton Vance Parametric Fund (the “Eaton Vance Fund”),
and Loomis Sayles Multi Sector Credit (the “Loomis Sayles Fund”). The Thornburg Fund (fair
value of $44.0 million and $38.3 million at September 30, 2013 and 2012, respectively) is a trust
for the collective investment of assets of participating tax qualified pension and profit-sharing
plans and related trusts and governmental plans. The Thornburg Fund seeks long-term capital
appreciation by investing in equity securities of all types. As a secondary consideration, the
Thornburg Fund also seeks current income. The units are not traded on a recognized stock
exchange and the value of the Thornburg Fund units is determined daily by calculating the NAV.
The investments in the Thornburg Fund are redeemable any day the Thornburg Fund is open for
business. The Loomis Sayles Fund (fair value of $18.2 million and $17.3 million at
September 30, 2013 and 2012, respectively) seeks to generate solid long-term risk-adjusted
investment performance with significant allocations to non-U.S. dollar and emerging markets
debt securities. Securities rated below BBB- are limited to 35-50% of the portfolio. The units are
not traded on a recognized stock exchange and the value of the Loomis units is determined daily
by calculating NAV. The investments in the Loomis Sayles Fund are redeemable any day the
Loomis Sayles Fund is open for business. The Eaton Vance Fund (fair value of $11.1 million and
$10.6 million at September 30, 2013 and 2012, respectively) seeks long-term capital appreciation
and normally invests at least 80% of its net assets in equity securities of companies located in
emerging market countries. It intends to invest primarily in securities of companies located in
countries included in the MSCI Emerging Markets Index or the MSCI Frontier Markets Index.
The units are not traded on a recognized stock exchange and the value of the Eaton units is
determined daily by calculating NAV. The investments in the Eaton Vance Fund are redeemable
any day the Eaton Vance Fund is open for business.