UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number
811-06400
The Advisors Inner Circle Fund
(Exact name of registrant as specified in charter)
101 Federal
Street
Boston, MA 02110
(Address of principal executive offices) (Zip code)
SEI
Corporation
One Freedom Valley Drive
Oaks, PA 19456
(Name and address of agent for service)
Registrants telephone number, including area code: 1-877-446-3863
Date of fiscal year end: October 31, 2014
Date of reporting period: January 31, 2014
Item 1.
|
Schedule of Investments
|
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
SCHEDULE OF INVESTMENTS
|
|
|
|
|
|
|
COMMON STOCK 91.5%
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
Argentina 0.9%
|
|
|
|
|
|
|
|
|
Petrobras Argentina ADR *
|
|
|
123,908
|
|
|
$
|
583,606
|
|
Telecom Argentina ADR
|
|
|
61,241
|
|
|
|
933,313
|
|
Ternium ADR
|
|
|
344,574
|
|
|
|
10,261,414
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,778,333
|
|
|
|
|
|
|
|
|
|
|
Brazil 7.1%
|
|
|
|
|
|
|
|
|
ALL - America Latina Logistica
|
|
|
118,100
|
|
|
|
323,481
|
|
Banco do Brasil
|
|
|
1,643,600
|
|
|
|
14,227,620
|
|
BRF
|
|
|
183,000
|
|
|
|
3,278,948
|
|
CETIP - Mercados Organizados
|
|
|
139,300
|
|
|
|
1,333,401
|
|
Cia de Saneamento Basico do Estado de Sao Paulo
|
|
|
494,663
|
|
|
|
4,562,809
|
|
Cia de Saneamento Basico do Estado de Sao Paulo ADR
|
|
|
567,640
|
|
|
|
5,182,553
|
|
Cia de Saneamento de Minas Gerais-COPASA
|
|
|
124,700
|
|
|
|
1,626,151
|
|
Cia Energetica de Minas Gerais ADR
|
|
|
413,702
|
|
|
|
2,387,060
|
|
Cia Siderurgica Nacional
|
|
|
630,600
|
|
|
|
2,924,029
|
|
Cosan
|
|
|
494,138
|
|
|
|
5,712,235
|
|
Duratex
|
|
|
1,057,030
|
|
|
|
5,190,430
|
|
EDP - Energias do Brasil
|
|
|
251,000
|
|
|
|
1,003,688
|
|
Embratel Participacoes
|
|
|
794
|
|
|
|
2
|
|
Fibria Celulose *
|
|
|
516,100
|
|
|
|
5,784,940
|
|
JBS
|
|
|
1,332,507
|
|
|
|
4,665,776
|
|
Kroton Educacional
|
|
|
370,600
|
|
|
|
5,663,619
|
|
Light
|
|
|
285,000
|
|
|
|
2,252,129
|
|
Marfrig Global Foods *
|
|
|
1,078,800
|
|
|
|
1,859,653
|
|
Porto Seguro
|
|
|
550,300
|
|
|
|
6,419,122
|
|
Sao Martinho
|
|
|
19,300
|
|
|
|
197,859
|
|
Seara Alimentos (A)*
|
|
|
911
|
|
|
|
2
|
|
Telefonica Brasil ADR
|
|
|
173,346
|
|
|
|
3,293,574
|
|
Tim Participacoes
|
|
|
1,617,900
|
|
|
|
8,474,155
|
|
Tim Participacoes ADR
|
|
|
200,654
|
|
|
|
5,223,024
|
|
Ultrapar Participacoes
|
|
|
47,600
|
|
|
|
1,051,313
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
92,637,573
|
|
|
|
|
|
|
|
|
|
|
Chile 0.7%
|
|
|
|
|
|
|
|
|
Enersis ADR
|
|
|
635,171
|
|
|
|
8,428,719
|
|
|
|
|
|
|
|
|
|
|
China 14.1%
|
|
|
|
|
|
|
|
|
Agricultural Bank of China
|
|
|
19,201,000
|
|
|
|
8,382,162
|
|
Anhui Conch Cement
|
|
|
277,000
|
|
|
|
1,068,480
|
|
ANTA Sports Products
|
|
|
204,000
|
|
|
|
297,871
|
|
Bank of China
|
|
|
63,379,000
|
|
|
|
26,751,019
|
|
Changyou.com ADR *
|
|
|
6,694
|
|
|
|
201,021
|
|
China Citic Bank
|
|
|
17,078,000
|
|
|
|
8,191,804
|
|
China Construction Bank
|
|
|
28,281,000
|
|
|
|
19,591,567
|
|
China Lodging Group ADR *
|
|
|
12,877
|
|
|
|
349,611
|
|
China Merchants Bank
|
|
|
2,669,500
|
|
|
|
4,702,102
|
|
China Petroleum & Chemical
|
|
|
24,171,800
|
|
|
|
19,093,163
|
|
China Railway Construction
|
|
|
486,000
|
|
|
|
405,452
|
|
China Sports International *
|
|
|
670,000
|
|
|
|
12,594
|
|
China Techfaith Wireless Communication Technology ADR *
|
|
|
39,097
|
|
|
|
74,284
|
|
1
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
COMMON STOCK continued
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
China continued
|
|
|
|
|
|
|
|
|
China Telecom
|
|
|
20,246,000
|
|
|
$
|
9,302,030
|
|
Chongqing Rural Commercial Bank
|
|
|
3,546,000
|
|
|
|
1,505,098
|
|
CSR
|
|
|
1,322,000
|
|
|
|
961,645
|
|
Giant Interactive Group ADR
|
|
|
748,723
|
|
|
|
8,243,440
|
|
Great Wall Motor
|
|
|
401,500
|
|
|
|
1,889,535
|
|
Greentown China Holdings
|
|
|
628,000
|
|
|
|
894,951
|
|
Haitian International Holdings
|
|
|
162,000
|
|
|
|
350,707
|
|
Huadian Power International
|
|
|
1,038,000
|
|
|
|
430,712
|
|
Huaneng Power International
|
|
|
5,494,000
|
|
|
|
5,129,511
|
|
Industrial & Commercial Bank of China
|
|
|
23,031,000
|
|
|
|
14,199,989
|
|
Jiangling Motors
|
|
|
67,800
|
|
|
|
243,606
|
|
Jiangsu Future Land
|
|
|
561,100
|
|
|
|
331,049
|
|
KongZhong ADR *
|
|
|
25,776
|
|
|
|
203,888
|
|
NetEase ADR *
|
|
|
219,310
|
|
|
|
16,441,671
|
|
New Oriental Education & Technology Group ADR
|
|
|
442,592
|
|
|
|
12,985,649
|
|
Perfect World ADR
|
|
|
100,403
|
|
|
|
1,942,798
|
|
Qingling Motors
|
|
|
778,000
|
|
|
|
215,949
|
|
Semiconductor Manufacturing International *
|
|
|
4,278,000
|
|
|
|
433,542
|
|
Shanghai Friendship Group
|
|
|
327,270
|
|
|
|
431,015
|
|
Shanghai Mechanical and Electrical Industry
|
|
|
268,300
|
|
|
|
535,795
|
|
SinoMedia Holding
|
|
|
290,000
|
|
|
|
199,846
|
|
Sinopec Shanghai Petrochemical
|
|
|
916,000
|
|
|
|
260,569
|
|
Sinotrans
|
|
|
961,000
|
|
|
|
396,563
|
|
SOHO China
|
|
|
709,000
|
|
|
|
562,440
|
|
Sohu.com *
|
|
|
30,827
|
|
|
|
2,243,589
|
|
SouFun Holdings ADR
|
|
|
66,121
|
|
|
|
5,381,588
|
|
TAL Education Group ADR *
|
|
|
96,588
|
|
|
|
2,313,283
|
|
Weiqiao Textile
|
|
|
992,000
|
|
|
|
532,003
|
|
WuXi PharmaTech Cayman ADR *
|
|
|
122,525
|
|
|
|
4,276,122
|
|
Xinhua Winshare Publishing and Media
|
|
|
433,000
|
|
|
|
244,937
|
|
Xinyuan Real Estate ADR
|
|
|
24,178
|
|
|
|
116,296
|
|
Zhuzhou CSR Times Electric
|
|
|
212,000
|
|
|
|
653,733
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
182,974,679
|
|
|
|
|
|
|
|
|
|
|
Egypt 0.3%
|
|
|
|
|
|
|
|
|
Commercial International Bank Egypt SAE
|
|
|
335,463
|
|
|
|
1,647,436
|
|
Ezz Steel *
|
|
|
408,960
|
|
|
|
1,013,128
|
|
Talaat Moustafa Group *
|
|
|
521,702
|
|
|
|
548,639
|
|
Telecom Egypt
|
|
|
282,406
|
|
|
|
611,814
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,821,017
|
|
|
|
|
|
|
|
|
|
|
Hong Kong 0.6%
|
|
|
|
|
|
|
|
|
Chaoda Modern Agriculture Holdings ADR *
|
|
|
6,346
|
|
|
|
19,228
|
|
China Ocean Resources *
|
|
|
71,580
|
|
|
|
207,865
|
|
China Resources Cement Holdings
|
|
|
744,000
|
|
|
|
507,749
|
|
China Unicom Hong Kong
|
|
|
1,922,000
|
|
|
|
2,506,106
|
|
Dah Chong Hong Holdings
|
|
|
311,000
|
|
|
|
182,605
|
|
Geely Automobile Holdings
|
|
|
3,900,000
|
|
|
|
1,593,768
|
|
GOME Electrical Appliances Holding
|
|
|
8,140,000
|
|
|
|
1,410,839
|
|
New China Life Insurance *
|
|
|
97,300
|
|
|
|
289,530
|
|
Peoples Insurance Group of China
|
|
|
532,000
|
|
|
|
230,274
|
|
2
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
COMMON STOCK continued
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
Hong Kong continued
|
|
|
|
|
|
|
|
|
TCL Multimedia Technology Holdings
|
|
|
710,000
|
|
|
$
|
329,029
|
|
Tonly Electronics Holdings *
|
|
|
71,000
|
|
|
|
56,425
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,333,418
|
|
|
|
|
|
|
|
|
|
|
Hungary 0.0%
|
|
|
|
|
|
|
|
|
Richter Gedeon Nyrt
|
|
|
17,305
|
|
|
|
349,932
|
|
|
|
|
|
|
|
|
|
|
India 8.5%
|
|
|
|
|
|
|
|
|
Aban Offshore
|
|
|
43,698
|
|
|
|
312,941
|
|
Apollo Tyres
|
|
|
1,949,182
|
|
|
|
3,524,736
|
|
Aptech
|
|
|
68,832
|
|
|
|
76,407
|
|
Aurobindo Pharma
|
|
|
354,110
|
|
|
|
2,665,080
|
|
Biocon
|
|
|
102,850
|
|
|
|
716,117
|
|
Britannia Industries
|
|
|
56,438
|
|
|
|
794,978
|
|
Cairn India
|
|
|
1,150,843
|
|
|
|
5,957,640
|
|
Ceat
|
|
|
63,505
|
|
|
|
301,739
|
|
Dishman Pharmaceuticals & Chemicals
|
|
|
58,387
|
|
|
|
76,228
|
|
Divis Laboratories *
|
|
|
14,566
|
|
|
|
305,826
|
|
Dr Reddys Laboratories
|
|
|
163,293
|
|
|
|
6,801,073
|
|
Escorts *
|
|
|
142,168
|
|
|
|
281,477
|
|
Geometric
|
|
|
101,511
|
|
|
|
160,882
|
|
Gitanjali Gems
|
|
|
38,150
|
|
|
|
38,269
|
|
HCL Technologies
|
|
|
845,746
|
|
|
|
19,737,448
|
|
Hexaware Technologies
|
|
|
694,141
|
|
|
|
1,494,528
|
|
Indraprastha Gas
|
|
|
230,706
|
|
|
|
912,072
|
|
Infosys ADR
|
|
|
251,426
|
|
|
|
14,728,535
|
|
Infosys
|
|
|
268,643
|
|
|
|
15,869,038
|
|
JSW Steel *
|
|
|
42,675
|
|
|
|
624,817
|
|
Lupin
|
|
|
318,832
|
|
|
|
4,487,718
|
|
MAX India
|
|
|
47,303
|
|
|
|
143,408
|
|
Mindtree
|
|
|
28,292
|
|
|
|
645,607
|
|
MRF
|
|
|
8,326
|
|
|
|
2,582,508
|
|
NIIT Technologies
|
|
|
107,712
|
|
|
|
691,691
|
|
Sasken Communications Technologies
|
|
|
175,093
|
|
|
|
464,316
|
|
SRF
|
|
|
40,927
|
|
|
|
134,496
|
|
Sun Pharmaceutical Industries
|
|
|
126,607
|
|
|
|
1,189,586
|
|
Syndicate Bank
|
|
|
550,011
|
|
|
|
742,214
|
|
Tata Communications *
|
|
|
54,921
|
|
|
|
241,931
|
|
Tata Consultancy Services
|
|
|
35,410
|
|
|
|
1,266,548
|
|
Tata Motors
|
|
|
1,814,121
|
|
|
|
10,120,916
|
|
Uflex
|
|
|
195,499
|
|
|
|
221,537
|
|
UPL
|
|
|
96,151
|
|
|
|
290,195
|
|
Wipro
|
|
|
1,150,933
|
|
|
|
10,563,307
|
|
WNS Holdings ADR *
|
|
|
80,743
|
|
|
|
1,738,397
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
110,904,206
|
|
|
|
|
|
|
|
|
|
|
Indonesia 1.0%
|
|
|
|
|
|
|
|
|
Agung Podomoro Land
|
|
|
5,873,000
|
|
|
|
109,294
|
|
Alam Sutera Realty
|
|
|
6,268,900
|
|
|
|
262,059
|
|
Bakrie Sumatera Plantations *
|
|
|
12,254,367
|
|
|
|
50,016
|
|
Bank Negara Indonesia Persero
|
|
|
3,781,500
|
|
|
|
1,356,034
|
|
3
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
COMMON STOCK continued
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
Indonesia continued
|
|
|
|
|
|
|
|
|
Bank Rakyat Indonesia
|
|
|
90,000
|
|
|
$
|
61,504
|
|
Darma Henwa *
|
|
|
6,998,260
|
|
|
|
28,658
|
|
Gajah Tunggal
|
|
|
2,750,778
|
|
|
|
425,681
|
|
Indofood Sukses Makmur
|
|
|
3,497,500
|
|
|
|
1,999,371
|
|
Lippo Cikarang *
|
|
|
339,500
|
|
|
|
154,942
|
|
Matahari Department Store *
|
|
|
604,500
|
|
|
|
576,371
|
|
Perusahaan Gas Negara Persero
|
|
|
3,485,500
|
|
|
|
1,355,817
|
|
Surya Semesta Internusa
|
|
|
8,109,000
|
|
|
|
445,813
|
|
Telekomunikasi Indonesia ADR
|
|
|
79,449
|
|
|
|
2,881,615
|
|
Telekomunikasi Indonesia Persero
|
|
|
19,835,000
|
|
|
|
3,678,121
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,385,296
|
|
|
|
|
|
|
|
|
|
|
Malaysia 3.6%
|
|
|
|
|
|
|
|
|
Affin Holdings
|
|
|
35,200
|
|
|
|
43,253
|
|
AMMB Holdings
|
|
|
976,600
|
|
|
|
2,136,385
|
|
DRB-Hicom
|
|
|
1,127,000
|
|
|
|
907,692
|
|
Kulim Malaysia *
|
|
|
515,000
|
|
|
|
492,361
|
|
Malayan Banking
|
|
|
2,737,900
|
|
|
|
7,888,021
|
|
Petronas Chemicals Group
|
|
|
242,500
|
|
|
|
481,219
|
|
POS Malaysia
|
|
|
156,300
|
|
|
|
261,443
|
|
Puncak Niaga Holdings
|
|
|
260,200
|
|
|
|
228,662
|
|
RHB Capital
|
|
|
143,200
|
|
|
|
328,847
|
|
Telekom Malaysia
|
|
|
2,953,800
|
|
|
|
4,862,497
|
|
Tenaga Nasional
|
|
|
8,138,300
|
|
|
|
28,691,152
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46,321,532
|
|
|
|
|
|
|
|
|
|
|
Mexico 4.9%
|
|
|
|
|
|
|
|
|
Alfa, Ser A
|
|
|
4,592,396
|
|
|
|
12,938,648
|
|
America Movil ADR, Ser L
|
|
|
1,035,493
|
|
|
|
22,014,581
|
|
America Movil, Ser L
|
|
|
2,162,547
|
|
|
|
2,305,811
|
|
Axtel *
|
|
|
762,000
|
|
|
|
310,520
|
|
Banregio Grupo Financiero
|
|
|
49,402
|
|
|
|
270,392
|
|
Bio Pappel *
|
|
|
143,800
|
|
|
|
334,394
|
|
Empresas ICA *
|
|
|
425,041
|
|
|
|
820,907
|
|
Fomento Economico Mexicano ADR
|
|
|
2,844
|
|
|
|
256,643
|
|
Gruma *
|
|
|
510,790
|
|
|
|
4,163,011
|
|
Grupo Aeroportuario del Centro Norte Sab
|
|
|
69,200
|
|
|
|
214,782
|
|
Grupo Aeroportuario del Pacifico
|
|
|
697,864
|
|
|
|
3,804,491
|
|
Grupo Aeroportuario del Pacifico ADR
|
|
|
13,336
|
|
|
|
722,678
|
|
Grupo Financiero Banorte
|
|
|
1,539,700
|
|
|
|
9,718,968
|
|
Grupo Financiero Inbursa
|
|
|
259,524
|
|
|
|
647,161
|
|
Grupo Lala
|
|
|
150,800
|
|
|
|
321,355
|
|
Grupo Simec *
|
|
|
39,900
|
|
|
|
148,812
|
|
OHL Mexico *
|
|
|
1,899,083
|
|
|
|
4,656,118
|
|
TF Administradora Industrial S de RL REIT
|
|
|
126,130
|
|
|
|
233,323
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
63,882,595
|
|
|
|
|
|
|
|
|
|
|
Pakistan 0.2%
|
|
|
|
|
|
|
|
|
Attock Refinery
|
|
|
268,591
|
|
|
|
552,135
|
|
Bank Alfalah
|
|
|
904,800
|
|
|
|
237,195
|
|
DG Khan Cement
|
|
|
1,948,800
|
|
|
|
1,768,679
|
|
4
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
COMMON STOCK continued
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
Pakistan continued
|
|
|
|
|
|
|
|
|
Pakistan Telecommunication
|
|
|
1,728,382
|
|
|
$
|
469,328
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,027,337
|
|
|
|
|
|
|
|
|
|
|
Panama 0.1%
|
|
|
|
|
|
|
|
|
Avianca Holdings ADR *
|
|
|
44,932
|
|
|
|
713,071
|
|
|
|
|
|
|
|
|
|
|
Peru 0.0%
|
|
|
|
|
|
|
|
|
Credicorp
|
|
|
2,353
|
|
|
|
310,408
|
|
|
|
|
|
|
|
|
|
|
Philippines 0.1%
|
|
|
|
|
|
|
|
|
Cebu Air
|
|
|
136,660
|
|
|
|
149,054
|
|
Globe Telecom
|
|
|
6,955
|
|
|
|
261,497
|
|
Lopez Holdings
|
|
|
116,800
|
|
|
|
11,136
|
|
Metropolitan Bank & Trust
|
|
|
303,602
|
|
|
|
507,117
|
|
Vista Land & Lifescapes
|
|
|
2,465,500
|
|
|
|
282,394
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,211,198
|
|
|
|
|
|
|
|
|
|
|
Poland 1.4%
|
|
|
|
|
|
|
|
|
Asseco Poland
|
|
|
21,098
|
|
|
|
308,170
|
|
Grupa Lotos *
|
|
|
116,387
|
|
|
|
1,304,184
|
|
PGE
|
|
|
447,244
|
|
|
|
2,341,220
|
|
Polski Koncern Naftowy Orlen
|
|
|
849,301
|
|
|
|
10,451,899
|
|
Tauron Polska Energia
|
|
|
2,327,921
|
|
|
|
3,161,010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,566,483
|
|
|
|
|
|
|
|
|
|
|
Russia 4.1%
|
|
|
|
|
|
|
|
|
LUKOIL ADR
|
|
|
485,141
|
|
|
|
27,580,266
|
|
OAO Gazprom ADR
|
|
|
2,128,359
|
|
|
|
17,580,245
|
|
Sistema GDR
|
|
|
256,982
|
|
|
|
6,935,944
|
|
Surgutneftegas ADR
|
|
|
66,607
|
|
|
|
512,208
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
52,608,663
|
|
|
|
|
|
|
|
|
|
|
South Africa 4.7%
|
|
|
|
|
|
|
|
|
FirstRand
|
|
|
2,657,768
|
|
|
|
7,443,616
|
|
Imperial Holdings
|
|
|
621,693
|
|
|
|
10,322,851
|
|
Liberty Holdings
|
|
|
254,071
|
|
|
|
2,605,991
|
|
MMI Holdings
|
|
|
2,247,998
|
|
|
|
4,766,488
|
|
Mondi
|
|
|
110,107
|
|
|
|
1,667,534
|
|
MTN Group
|
|
|
154,483
|
|
|
|
2,745,700
|
|
Murray & Roberts Holdings *
|
|
|
102,526
|
|
|
|
228,830
|
|
Netcare
|
|
|
107,468
|
|
|
|
215,197
|
|
Sanlam
|
|
|
678,532
|
|
|
|
2,912,226
|
|
Sappi *
|
|
|
324,039
|
|
|
|
1,003,773
|
|
Sasol
|
|
|
385,950
|
|
|
|
18,523,099
|
|
Standard Bank Group
|
|
|
46,498
|
|
|
|
489,398
|
|
Steinhoff International Holdings
|
|
|
1,360,659
|
|
|
|
5,608,440
|
|
Sun International
|
|
|
2,999
|
|
|
|
26,585
|
|
Telkom *
|
|
|
660,239
|
|
|
|
1,797,438
|
|
Woolworths Holdings
|
|
|
53,277
|
|
|
|
290,083
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
60,647,249
|
|
|
|
|
|
|
|
|
|
|
South Korea 19.0%
|
|
|
|
|
|
|
|
|
AtlasBX *
|
|
|
249,908
|
|
|
|
9,469,012
|
|
5
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
COMMON STOCK continued
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
South Korea continued
|
|
|
|
|
|
|
|
|
CJ *
|
|
|
98,940
|
|
|
$
|
10,850,760
|
|
CJ E&M *
|
|
|
13,951
|
|
|
|
436,436
|
|
CKH Food & Health
|
|
|
80,755
|
|
|
|
277,485
|
|
Daelim Industrial *
|
|
|
20,591
|
|
|
|
1,575,194
|
|
Daou Data *
|
|
|
15,940
|
|
|
|
75,259
|
|
Daou Technology *
|
|
|
39,180
|
|
|
|
573,032
|
|
Dongbu Insurance
|
|
|
7,309
|
|
|
|
363,942
|
|
Dongyang E&P *
|
|
|
15,443
|
|
|
|
256,064
|
|
Ecoplastic *
|
|
|
228,571
|
|
|
|
429,453
|
|
Hana Financial Group
|
|
|
486,830
|
|
|
|
18,421,355
|
|
Hanil E-Wha *
|
|
|
173,830
|
|
|
|
2,685,495
|
|
Hansol Paper *
|
|
|
24,320
|
|
|
|
272,518
|
|
Hanwha *
|
|
|
283,370
|
|
|
|
9,535,930
|
|
Hanwha Life Insurance
|
|
|
41,690
|
|
|
|
284,166
|
|
Hite Holdings *
|
|
|
14,760
|
|
|
|
157,813
|
|
Husteel *
|
|
|
22,760
|
|
|
|
381,511
|
|
Hwa Shin *
|
|
|
18,740
|
|
|
|
190,045
|
|
Hyosung *
|
|
|
35,677
|
|
|
|
2,228,541
|
|
Hyundai Hy Communications & Networks *
|
|
|
50,240
|
|
|
|
264,255
|
|
Hyundai Motor
|
|
|
98,906
|
|
|
|
21,465,100
|
|
Hyundai Steel *
|
|
|
6,218
|
|
|
|
437,946
|
|
Industrial Bank of Korea *
|
|
|
95,090
|
|
|
|
1,097,502
|
|
INTOPS
|
|
|
8,242
|
|
|
|
152,159
|
|
Kia Motors
|
|
|
364,370
|
|
|
|
18,179,585
|
|
Kolon *
|
|
|
25,730
|
|
|
|
385,424
|
|
Kolon Industries *
|
|
|
5,073
|
|
|
|
237,278
|
|
Korea District Heating *
|
|
|
2,802
|
|
|
|
188,073
|
|
KT
|
|
|
536,820
|
|
|
|
15,535,063
|
|
Ktis *
|
|
|
65,330
|
|
|
|
298,082
|
|
LG Display *
|
|
|
603,090
|
|
|
|
14,085,843
|
|
LG Uplus
|
|
|
190,080
|
|
|
|
1,946,261
|
|
LIG Insurance
|
|
|
31,920
|
|
|
|
934,187
|
|
Lotte Food *
|
|
|
387
|
|
|
|
282,347
|
|
Mando *
|
|
|
1,946
|
|
|
|
217,366
|
|
NEOWIZ HOLDINGS *
|
|
|
6,358
|
|
|
|
72,809
|
|
POSCO
|
|
|
3,133
|
|
|
|
870,975
|
|
Samsung Electronics
|
|
|
58,941
|
|
|
|
69,798,447
|
|
SK Holdings *
|
|
|
75,349
|
|
|
|
12,547,316
|
|
SK Hynix *
|
|
|
67,630
|
|
|
|
2,356,495
|
|
SK Telecom
|
|
|
56,162
|
|
|
|
11,315,818
|
|
Sungwoo Hitech *
|
|
|
23,079
|
|
|
|
330,097
|
|
Taekwang Industrial *
|
|
|
36
|
|
|
|
47,125
|
|
Taeyoung Engineering & Construction *
|
|
|
67,270
|
|
|
|
339,303
|
|
TS *
|
|
|
17,738
|
|
|
|
463,192
|
|
Woori Finance Holdings *
|
|
|
1,172,265
|
|
|
|
13,410,913
|
|
Youngone Holdings *
|
|
|
16,154
|
|
|
|
1,087,977
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
246,810,949
|
|
|
|
|
|
|
|
|
|
|
Taiwan 11.4%
|
|
|
|
|
|
|
|
|
AcBel Polytech
|
|
|
444,000
|
|
|
|
460,390
|
|
Accton Technology
|
|
|
450,000
|
|
|
|
243,117
|
|
6
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
COMMON STOCK continued
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
Taiwan continued
|
|
|
|
|
|
|
|
|
Advanced Semiconductor Engineering
|
|
|
942,000
|
|
|
$
|
863,133
|
|
AmTRAN Technology
|
|
|
639,000
|
|
|
|
412,036
|
|
Cheng Loong
|
|
|
2,253,680
|
|
|
|
1,058,424
|
|
Chia Chang
|
|
|
160,000
|
|
|
|
201,683
|
|
Chimei Materials Technology
|
|
|
123,000
|
|
|
|
161,997
|
|
China General Plastics
|
|
|
681,580
|
|
|
|
357,295
|
|
China Life Insurance
|
|
|
339,000
|
|
|
|
323,071
|
|
China Man-Made Fiber *
|
|
|
1,958,000
|
|
|
|
789,230
|
|
ChipMOS Technologies
|
|
|
10,263
|
|
|
|
194,586
|
|
CMC Magnetics *
|
|
|
3,274,000
|
|
|
|
522,687
|
|
Compal Electronics
|
|
|
1,192,169
|
|
|
|
886,260
|
|
Coretronic
|
|
|
450,000
|
|
|
|
416,852
|
|
CTBC Financial Holding
|
|
|
1,678,200
|
|
|
|
1,104,734
|
|
Elitegroup Computer Systems
|
|
|
398,040
|
|
|
|
234,319
|
|
Feng TAY Enterprise
|
|
|
106,734
|
|
|
|
240,180
|
|
Formosa Chemicals & Fibre
|
|
|
99,000
|
|
|
|
259,305
|
|
Formosa Taffeta
|
|
|
387,000
|
|
|
|
409,022
|
|
FSP Technology
|
|
|
217,357
|
|
|
|
215,948
|
|
Fubon Financial Holding
|
|
|
15,057,520
|
|
|
|
21,242,529
|
|
Gigabyte Technology
|
|
|
54,000
|
|
|
|
71,264
|
|
Global Brands Manufacture
|
|
|
389,643
|
|
|
|
140,125
|
|
GMI Technology *
|
|
|
177,916
|
|
|
|
86,077
|
|
Grand Pacific Petrochemical
|
|
|
1,166,000
|
|
|
|
844,368
|
|
Hannstar Board
|
|
|
509,234
|
|
|
|
191,244
|
|
Hon Hai Precision Industry
|
|
|
10,941,600
|
|
|
|
30,566,306
|
|
Innolux *
|
|
|
19,346,000
|
|
|
|
6,708,810
|
|
Inventec
|
|
|
7,533,851
|
|
|
|
6,950,772
|
|
King Yuan Electronics
|
|
|
2,127,000
|
|
|
|
1,453,003
|
|
Kings Town Bank
|
|
|
907,000
|
|
|
|
883,363
|
|
Lingsen Precision Industries
|
|
|
448,000
|
|
|
|
253,781
|
|
Lite-On Technology
|
|
|
6,127,711
|
|
|
|
9,075,194
|
|
Long Bon International
|
|
|
53,000
|
|
|
|
28,648
|
|
Mega Financial Holding
|
|
|
7,669,419
|
|
|
|
6,192,123
|
|
Mercuries & Associates
|
|
|
1,323,138
|
|
|
|
870,857
|
|
Mercuries Life Insurance *
|
|
|
380,000
|
|
|
|
243,768
|
|
Micro-Star International
|
|
|
993,000
|
|
|
|
863,929
|
|
Nien Hsing Textile
|
|
|
286,143
|
|
|
|
283,380
|
|
Pegatron
|
|
|
6,414,343
|
|
|
|
8,382,493
|
|
Pou Chen
|
|
|
8,669,270
|
|
|
|
11,983,894
|
|
Powertech Technology
|
|
|
485,000
|
|
|
|
669,264
|
|
President Chain Store
|
|
|
42,000
|
|
|
|
281,227
|
|
P-Two Industries
|
|
|
49,000
|
|
|
|
23,220
|
|
Shihlin Development
|
|
|
148,800
|
|
|
|
191,304
|
|
Shin Kong Financial Holding
|
|
|
9,603,617
|
|
|
|
3,216,263
|
|
Shinkong Synthetic Fibers
|
|
|
649,000
|
|
|
|
212,433
|
|
Silicon Motion Technology ADR
|
|
|
29,982
|
|
|
|
504,597
|
|
SinoPac Financial Holdings
|
|
|
5,062,973
|
|
|
|
2,358,991
|
|
Ta Chong Bank *
|
|
|
673,080
|
|
|
|
234,359
|
|
Taichung Commercial Bank
|
|
|
669,240
|
|
|
|
240,552
|
|
Taishin Financial Holding
|
|
|
8,437,245
|
|
|
|
3,983,379
|
|
7
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
COMMON STOCK continued
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
Taiwan continued
|
|
|
|
|
|
|
|
|
Taiwan Business Bank *
|
|
|
596,299
|
|
|
$
|
176,987
|
|
Taiwan Life Insurance *
|
|
|
316,000
|
|
|
|
292,464
|
|
Taiwan Semiconductor
|
|
|
454,000
|
|
|
|
440,139
|
|
Taiwan Surface Mounting Technology
|
|
|
593,250
|
|
|
|
877,224
|
|
Taiwan Union Technology
|
|
|
395,000
|
|
|
|
360,660
|
|
Tatung *
|
|
|
3,520,000
|
|
|
|
1,007,766
|
|
Topco Scientific
|
|
|
117,287
|
|
|
|
219,524
|
|
TYC Brother Industrial
|
|
|
179,162
|
|
|
|
94,562
|
|
United Integrated Services
|
|
|
256,000
|
|
|
|
327,059
|
|
United Microelectronics
|
|
|
25,149,000
|
|
|
|
10,291,025
|
|
Vanguard International Semiconductor
|
|
|
975,000
|
|
|
|
1,066,879
|
|
Winbond Electronics *
|
|
|
13,969,000
|
|
|
|
3,366,942
|
|
Yageo
|
|
|
1,407,700
|
|
|
|
579,567
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
147,686,584
|
|
|
|
|
|
|
|
|
|
|
Thailand 5.3%
|
|
|
|
|
|
|
|
|
Advanced Info Service NVDR
|
|
|
1,832,200
|
|
|
|
11,600,418
|
|
Airports of Thailand NVDR
|
|
|
1,316,900
|
|
|
|
6,841,816
|
|
Bangchak Petroleum NVDR
|
|
|
2,550,300
|
|
|
|
2,066,662
|
|
Bangkok Bank
|
|
|
803,000
|
|
|
|
4,171,902
|
|
Bangkok Bank NVDR
|
|
|
193,500
|
|
|
|
1,005,309
|
|
Bangkok Expressway
|
|
|
166,400
|
|
|
|
161,309
|
|
Delta Electronics Thailand NVDR
|
|
|
169,700
|
|
|
|
272,466
|
|
Jasmine International NVDR
|
|
|
3,153,900
|
|
|
|
673,584
|
|
Krung Thai Bank
|
|
|
5,257,400
|
|
|
|
2,659,757
|
|
Krung Thai Bank NVDR
|
|
|
5,878,300
|
|
|
|
2,973,875
|
|
Krungthai Card NVDR
|
|
|
218,200
|
|
|
|
193,346
|
|
Lanna Resources
|
|
|
220,600
|
|
|
|
74,179
|
|
PTT Exploration & Production NVDR
|
|
|
210,800
|
|
|
|
977,050
|
|
PTT Global Chemical NVDR
|
|
|
3,624,700
|
|
|
|
7,823,686
|
|
PTT NVDR
|
|
|
1,147,000
|
|
|
|
9,590,185
|
|
Ratchaburi Electricity Generating Holding NVDR
|
|
|
131,200
|
|
|
|
189,785
|
|
Sri Trang Agro-Industry NVDR
|
|
|
434,100
|
|
|
|
161,752
|
|
Thai Airways International NVDR
|
|
|
768,500
|
|
|
|
328,260
|
|
Thai Oil NVDR
|
|
|
996,700
|
|
|
|
1,592,727
|
|
Thanachart Capital
|
|
|
3,005,900
|
|
|
|
2,822,869
|
|
Thanachart Capital NVDR
|
|
|
2,550,300
|
|
|
|
2,395,010
|
|
Tisco Financial Group NVDR
|
|
|
121,200
|
|
|
|
135,850
|
|
Total Access Communication NVDR
|
|
|
3,087,900
|
|
|
|
8,956,874
|
|
TPI Polene
|
|
|
710,600
|
|
|
|
226,032
|
|
TPI Polene
|
|
|
3,208,900
|
|
|
|
1,020,704
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
68,915,407
|
|
|
|
|
|
|
|
|
|
|
Turkey 3.5%
|
|
|
|
|
|
|
|
|
Aksa Akrilik Kimya Sanayii
|
|
|
424,858
|
|
|
|
1,405,794
|
|
Alarko Gayrimenkul Yatirim Ortakligi REIT
|
|
|
66,476
|
|
|
|
563,132
|
|
Alarko Holding
|
|
|
125,921
|
|
|
|
259,574
|
|
Arcelik
|
|
|
290,540
|
|
|
|
1,433,036
|
|
BIM Birlesik Magazalar
|
|
|
17,625
|
|
|
|
300,949
|
|
Eregli Demir ve Celik Fabrikalari
|
|
|
9,481,275
|
|
|
|
11,366,122
|
|
Gubre Fabrikalari *
|
|
|
382,432
|
|
|
|
556,578
|
|
8
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
COMMON STOCK continued
|
|
|
|
Shares/Number
of Rights
|
|
|
Value
|
|
Turkey continued
|
|
|
|
|
|
|
|
|
Ipek Matbacilik Sanayi Ve Ticaret *
|
|
|
302,419
|
|
|
$
|
303,677
|
|
Is Yatirim Menkul Degerler
|
|
|
86,763
|
|
|
|
44,521
|
|
Kiler Gayrimenkul Yatirim Ortakligi REIT *
|
|
|
425,158
|
|
|
|
191,834
|
|
Koza Anadolu Metal Madencilik Isletmeleri *
|
|
|
834,501
|
|
|
|
804,748
|
|
Pinar Entegre Et ve Un Sanayi
|
|
|
36,787
|
|
|
|
131,487
|
|
Sekerbank *
|
|
|
145,394
|
|
|
|
129,919
|
|
Soda Sanayii
|
|
|
125,259
|
|
|
|
154,593
|
|
Tumosan Motor ve Traktor Sanayi
|
|
|
99,367
|
|
|
|
201,758
|
|
Turk Hava Yollari
|
|
|
2,189,650
|
|
|
|
6,528,462
|
|
Turk Sise ve Cam Fabrikalari
|
|
|
4,202,852
|
|
|
|
4,647,938
|
|
Turkiye Is Bankasi
|
|
|
4,884,026
|
|
|
|
8,750,025
|
|
Turkiye Vakiflar Bankasi Tao
|
|
|
4,810,452
|
|
|
|
7,341,440
|
|
Vestel Elektronik Sanayi ve Ticaret *
|
|
|
400,917
|
|
|
|
248,290
|
|
Yazicilar Holding, Cl A
|
|
|
23,627
|
|
|
|
186,039
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
45,549,916
|
|
|
|
|
|
|
|
|
|
|
TOTAL COMMON STOCK
(Cost $1,088,517,511)
|
|
|
|
|
|
|
1,186,864,565
|
|
|
|
|
|
|
|
|
|
|
PREFERRED STOCK 7.2%
|
|
|
|
|
|
|
|
Brazil 7.2%
|
|
|
|
|
|
|
|
|
Bradespar
|
|
|
185,400
|
|
|
|
1,713,217
|
|
Braskem, Ser A *
|
|
|
596,410
|
|
|
|
4,591,857
|
|
Cia Brasileira de Distribuicao Grupo Pao de Acucar
|
|
|
424,901
|
|
|
|
16,444,941
|
|
Cia Energetica de Minas Gerais
|
|
|
2,040,916
|
|
|
|
11,780,777
|
|
Cia Energetica de Sao Paulo
|
|
|
406,100
|
|
|
|
3,882,203
|
|
Cia Energetica do Ceara
|
|
|
19,930
|
|
|
|
396,577
|
|
Cia Paranaense de Energia, Ser B
|
|
|
303,800
|
|
|
|
3,503,472
|
|
Eletropaulo Metropolitana Eletricidade de Sao Paulo
|
|
|
178,300
|
|
|
|
648,699
|
|
Embratel Participacoes
|
|
|
60
|
|
|
|
|
|
Gerdau
|
|
|
1,246,800
|
|
|
|
8,860,507
|
|
Metalurgica Gerdau
|
|
|
707,400
|
|
|
|
6,278,880
|
|
Petroleo Brasileiro
|
|
|
2,526,000
|
|
|
|
15,386,802
|
|
San Carlos Empreendimentos e Participacoes (A) *
|
|
|
455
|
|
|
|
|
|
Telefonica Brasil
|
|
|
566,000
|
|
|
|
10,758,281
|
|
Usinas Siderurgicas de Minas Gerais, Ser A *
|
|
|
1,807,900
|
|
|
|
8,914,953
|
|
|
|
|
|
|
|
|
|
|
TOTAL PREFERRED STOCK
(Cost $116,784,736)
|
|
|
|
|
|
|
93,161,166
|
|
|
|
|
|
|
|
|
|
|
RIGHTS 0.0%
|
|
|
|
|
|
|
|
Brazil 0.0%
|
|
|
|
|
|
|
|
|
Marfrig Global Foods, Expires 2/27/14 *
(Cost $)
|
|
|
490
|
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
9
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT 1.1%
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
|
Union Bank, N.A. Diversified Money Market Fund, Fiduciary
Shares, 0.020% (B)
(Cost
$14,468,908)
|
|
|
14,468,908
|
|
|
$
|
14,468,908
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS 99.8%
(Cost $1,219,771,155)
|
|
|
|
|
|
$
|
1,294,494,641
|
|
|
|
|
|
|
|
|
|
|
Percentages are based on Net Assets of $1,297,574,028.
*
|
|
Non-income producing security.
|
(A)
|
|
Security is fair valued using methods determined in good faith by the Fair Value Pricing Committee of the Board of Trustees. The total value of such
securities as of January 31, 2014, was $2 and represented 0.0% of net assets.
|
(B)
|
|
The rate reported is the 7-day effective yield as of January 31, 2014.
|
|
|
At January 31, 2014, the tax basis cost of the Funds investments was $1,219,771,155, and the unrealized appreciation and depreciation were
$182,232,694 and $(107,509,208), respectively.
|
ADR American Depositary Receipt
Cl Class
GDR Global Depositary Receipt
NVDR
Non-Voting Depositary Receipt
REIT Real Estate Investment Trust
Ser Series
10
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS PORTFOLIO
|
|
|
January 31, 2014
|
|
|
(Unaudited)
|
The list of inputs used to value the Portfolios net assets as of January 31, 2014 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments
in Securities
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Argentina
|
|
$
|
11,778,333
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
11,778,333
|
|
Brazil
|
|
|
92,637,571
|
|
|
|
|
|
|
|
2
|
|
|
|
92,637,573
|
|
Chile
|
|
|
8,428,719
|
|
|
|
|
|
|
|
|
|
|
|
8,428,719
|
|
China
|
|
|
56,083,694
|
|
|
|
126,890,985
|
|
|
|
|
|
|
|
182,974,679
|
|
Egypt
|
|
|
|
|
|
|
3,821,017
|
|
|
|
|
|
|
|
3,821,017
|
|
Hong Kong
|
|
|
75,653
|
|
|
|
7,257,765
|
|
|
|
|
|
|
|
7,333,418
|
|
Hungary
|
|
|
349,932
|
|
|
|
|
|
|
|
|
|
|
|
349,932
|
|
India
|
|
|
110,904,206
|
|
|
|
|
|
|
|
|
|
|
|
110,904,206
|
|
Indonesia
|
|
|
2,910,273
|
|
|
|
10,475,023
|
|
|
|
|
|
|
|
13,385,296
|
|
Malaysia
|
|
|
|
|
|
|
46,321,532
|
|
|
|
|
|
|
|
46,321,532
|
|
Mexico
|
|
|
63,882,595
|
|
|
|
|
|
|
|
|
|
|
|
63,882,595
|
|
Pakistan
|
|
|
3,027,337
|
|
|
|
|
|
|
|
|
|
|
|
3,027,337
|
|
Panama
|
|
|
713,071
|
|
|
|
|
|
|
|
|
|
|
|
713,071
|
|
Peru
|
|
|
310,408
|
|
|
|
|
|
|
|
|
|
|
|
310,408
|
|
Philippines
|
|
|
|
|
|
|
1,211,198
|
|
|
|
|
|
|
|
1,211,198
|
|
Poland
|
|
|
17,566,483
|
|
|
|
|
|
|
|
|
|
|
|
17,566,483
|
|
Russia
|
|
|
52,608,663
|
|
|
|
|
|
|
|
|
|
|
|
52,608,663
|
|
South Africa
|
|
|
60,647,249
|
|
|
|
|
|
|
|
|
|
|
|
60,647,249
|
|
South Korea
|
|
|
463,192
|
|
|
|
246,347,757
|
|
|
|
|
|
|
|
246,810,949
|
|
Taiwan
|
|
|
699,183
|
|
|
|
146,987,401
|
|
|
|
|
|
|
|
147,686,584
|
|
Thailand
|
|
|
68,915,407
|
|
|
|
|
|
|
|
|
|
|
|
68,915,407
|
|
Turkey
|
|
|
45,549,916
|
|
|
|
|
|
|
|
|
|
|
|
45,549,916
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Common Stock
|
|
|
597,551,885
|
|
|
|
589,312,678
|
|
|
|
2
|
|
|
|
1,186,864,565
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred Stock
|
|
|
93,161,166
|
|
|
|
|
|
|
|
^
|
|
|
|
93,161,166
|
|
Rights
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
Short-Term Investment
|
|
|
14,468,908
|
|
|
|
|
|
|
|
|
|
|
|
14,468,908
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments in Securities
|
|
$
|
705,181,961
|
|
|
$
|
589,312,678
|
|
|
$
|
2
|
|
|
$
|
1,294,494,641
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as are either $0 or have been rounded to $0.
A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Portfolio has
a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.
^ Represents security labeled as Level 3 in which the market value is $0 or has been rounded to $0.
For the period ended January 31, 2014, there were transfers between Level 1 and Level 2 assets and liabilities. The primary reason
for changes in the classifications between Levels 1 and 2 occurs when foreign equity securities are fair valued using other observable market based inputs in place of the closing exchange price due to events occurring after the close of the exchange
or market on which the investment is principally traded.
For information on the Portfolios policy regarding
valuation of investments and other significant accounting policies, please refer to the Portfolios most recent semi-annual or annual financial statements.
ACA-QH-003-1400
11
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS DEBT FUND
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
SCHEDULE OF INVESTMENTS
|
|
|
|
|
|
|
|
|
GLOBAL BONDS 93.1%
|
|
|
|
|
|
|
|
|
|
|
Face
Amount
(000)
(1)
|
|
|
Value
|
|
Barbados 0.6%
|
|
|
|
|
|
|
|
|
|
|
Barbados Government International Bond
6.625%, 12/05/35
|
|
|
|
|
310
|
|
|
$
|
226,300
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil 11.6%
|
|
|
|
|
|
|
|
|
|
|
Brazil Notas do Tesouro Nacional, Ser F
10.000%, 01/01/17
|
|
BRL
|
|
|
3,945
|
|
|
|
1,521,682
|
|
10.000%, 01/01/21
|
|
BRL
|
|
|
2,807
|
|
|
|
996,221
|
|
10.000%, 01/01/23
|
|
BRL
|
|
|
5,868
|
|
|
|
2,014,067
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,531,970
|
|
|
|
|
|
|
|
|
|
|
|
|
Colombia 3.6%
|
|
|
|
|
|
|
|
|
|
|
Colombian TES
6.000%, 04/28/28
|
|
COP
|
|
|
2,666,200
|
|
|
|
1,142,700
|
|
Empresa de Telecomunicaciones de Bogota
7.000%, 01/17/23 (A)
|
|
COP
|
|
|
664,000
|
|
|
|
281,288
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,423,988
|
|
|
|
|
|
|
|
|
|
|
|
|
Dominican Republic 2.0%
|
|
|
|
|
|
|
|
|
|
|
Dominican Republic International Bond
15.000%, 04/05/19 (A)
|
|
DOP
|
|
|
17,300
|
|
|
|
446,933
|
|
14.500%, 02/10/23 (A)
|
|
DOP
|
|
|
6,700
|
|
|
|
162,433
|
|
14.000%, 02/06/15 (A)
|
|
DOP
|
|
|
8,000
|
|
|
|
193,160
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
802,526
|
|
|
|
|
|
|
|
|
|
|
|
|
Ghana 3.7%
|
|
|
|
|
|
|
|
|
|
|
Ghana Government Bond
24.000%, 05/25/15
|
|
GHS
|
|
|
400
|
|
|
|
175,933
|
|
21.000%, 10/26/15
|
|
GHS
|
|
|
2,120
|
|
|
|
908,019
|
|
19.240%, 05/30/16
|
|
GHS
|
|
|
650
|
|
|
|
270,572
|
|
16.900%, 03/07/16
|
|
GHS
|
|
|
250
|
|
|
|
100,140
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,454,664
|
|
|
|
|
|
|
|
|
|
|
|
|
Grenada 0.3%
|
|
|
|
|
|
|
|
|
|
|
Grenada Government International Bond
6.000%, 09/15/25 (A) (B)
|
|
|
|
|
375
|
|
|
|
121,875
|
|
|
|
|
|
|
|
|
|
|
|
|
Indonesia 7.2%
|
|
|
|
|
|
|
|
|
|
|
Indonesia Treasury Bond
11.000%, 11/15/20
|
|
IDR
|
|
|
7,830,000
|
|
|
|
719,071
|
|
11.000%, 09/15/25
|
|
IDR
|
|
|
954,000
|
|
|
|
87,313
|
|
10.250%, 07/15/22
|
|
IDR
|
|
|
2,600,000
|
|
|
|
227,961
|
|
10.000%, 02/15/28
|
|
IDR
|
|
|
5,033,000
|
|
|
|
425,188
|
|
9.500%, 05/15/41
|
|
IDR
|
|
|
680,000
|
|
|
|
54,717
|
|
8.375%, 03/15/24
|
|
IDR
|
|
|
2,375,000
|
|
|
|
186,847
|
|
8.375%, 03/15/34
|
|
IDR
|
|
|
4,120,000
|
|
|
|
303,011
|
|
6.625%, 05/15/33
|
|
IDR
|
|
|
13,847,000
|
|
|
|
839,212
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,843,320
|
|
|
|
|
|
|
|
|
|
|
|
|
Ivory Coast 0.8%
|
|
|
|
|
|
|
|
|
|
|
Ivory Coast Government International Bond
5.750%, 12/31/32
|
|
|
|
|
340
|
|
|
|
294,100
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS DEBT FUND
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GLOBAL BONDS continued
|
|
|
|
|
|
|
|
|
|
|
|
Face Amount
(000)
(1)
|
|
|
Value
|
|
|
|
|
|
|
|
|
|
|
|
Malaysia 3.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
Malaysia Government Bond
4.935%, 09/30/43
|
|
|
MYR
|
|
|
|
1,350
|
|
|
$
|
403,115
|
|
3.492%, 03/31/20
|
|
|
MYR
|
|
|
|
1,440
|
|
|
|
416,692
|
|
3.480%, 03/15/23
|
|
|
MYR
|
|
|
|
1,465
|
|
|
|
410,643
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,230,450
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico 6.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
America Movil
6.450%, 12/05/22
|
|
|
MXN
|
|
|
|
3,530
|
|
|
|
238,799
|
|
Mexican Bonos
8.500%, 11/18/38
|
|
|
MXN
|
|
|
|
11,905
|
|
|
|
964,083
|
|
8.000%, 12/07/23
|
|
|
MXN
|
|
|
|
8,182
|
|
|
|
672,500
|
|
Petroleos Mexicanos
7.650%, 11/24/21 (A)
|
|
|
MXN
|
|
|
|
11,130
|
|
|
|
842,776
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,718,158
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mozambique 1.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
EMATUM Via Mozambique EMATUM Finance 2020
6.305%, 09/11/20
|
|
|
|
|
|
|
540
|
|
|
|
504,900
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nigeria 4.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
Nigeria Government Bond
16.390%, 01/27/22
|
|
|
NGN
|
|
|
|
115,750
|
|
|
|
801,270
|
|
16.000%, 06/29/19
|
|
|
NGN
|
|
|
|
96,460
|
|
|
|
642,829
|
|
10.700%, 05/30/18
|
|
|
NGN
|
|
|
|
62,150
|
|
|
|
345,883
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,789,982
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peru 0.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
Peru Government Bond
6.900%, 08/12/37
|
|
|
PEN
|
|
|
|
345
|
|
|
|
112,861
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Philippines 1.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
Philippine Government International Bond
6.250%, 01/14/36
|
|
|
PHP
|
|
|
|
10,000
|
|
|
|
221,756
|
|
3.900%, 11/26/22
|
|
|
PHP
|
|
|
|
18,000
|
|
|
|
374,002
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
595,758
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Poland 2.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
Poland Government Bond
4.000%, 10/25/23
|
|
|
PLN
|
|
|
|
775
|
|
|
|
232,353
|
|
2.750%, 08/25/23
|
|
|
PLN
|
|
|
|
1,425
|
|
|
|
543,647
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
776,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Russia 11.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
RusHydro JSC via RusHydro Finance MTN
7.875%, 10/28/15
|
|
|
RUB
|
|
|
|
26,400
|
|
|
|
739,230
|
|
Russian Agricultural Bank Via RSHB Capital
8.625%, 02/17/17 (A)
|
|
|
RUB
|
|
|
|
8,300
|
|
|
|
232,145
|
|
Russian Federal Bond - OFZ
8.150%, 02/03/27
|
|
|
RUB
|
|
|
|
27,730
|
|
|
|
782,937
|
|
7.600%, 07/20/22
|
|
|
RUB
|
|
|
|
21,205
|
|
|
|
580,621
|
|
7.500%, 03/15/18
|
|
|
RUB
|
|
|
|
40,170
|
|
|
|
1,134,857
|
|
7.050%, 01/19/28
|
|
|
RUB
|
|
|
|
17,795
|
|
|
|
453,198
|
|
7.000%, 01/25/23
|
|
|
RUB
|
|
|
|
21,320
|
|
|
|
560,430
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,483,418
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS DEBT FUND
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
GLOBAL BONDS continued
|
|
|
|
|
|
|
|
|
|
|
Face
Amount
(000)
(1)
|
|
|
Value
|
|
Serbia 2.4%
|
|
|
|
|
|
|
|
|
|
|
Serbia Treasury Bonds
10.000%, 04/04/15
|
|
RSD
|
|
|
28,750
|
|
|
$
|
335,629
|
|
10.000%, 10/17/16
|
|
RSD
|
|
|
29,810
|
|
|
|
342,605
|
|
10.000%, 01/24/18
|
|
RSD
|
|
|
24,150
|
|
|
|
271,615
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
949,849
|
|
|
|
|
|
|
|
|
|
|
|
|
South Africa 5.3%
|
|
|
|
|
|
|
|
|
|
|
South Africa Government Bond
10.500%, 12/21/26
|
|
ZAR
|
|
|
1,537
|
|
|
|
154,481
|
|
8.750%, 02/28/48
|
|
ZAR
|
|
|
10,565
|
|
|
|
885,686
|
|
7.000%, 02/28/31
|
|
ZAR
|
|
|
9,235
|
|
|
|
667,058
|
|
6.250%, 03/31/36
|
|
ZAR
|
|
|
5,580
|
|
|
|
358,558
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,065,783
|
|
|
|
|
|
|
|
|
|
|
|
|
Supra-National 0.8%
|
|
|
|
|
|
|
|
|
|
|
International Finance MTN
7.750%, 12/03/16
|
|
INR
|
|
|
19,630
|
|
|
|
316,123
|
|
|
|
|
|
|
|
|
|
|
|
|
Tanzania 2.7%
|
|
|
|
|
|
|
|
|
|
|
Standard Bank
7.250%, 10/07/14
|
|
|
|
|
1,000
|
|
|
|
1,046,600
|
|
|
|
|
|
|
|
|
|
|
|
|
Thailand 1.9%
|
|
|
|
|
|
|
|
|
|
|
Thailand Government Bond
3.775%, 06/25/32
|
|
THB
|
|
|
4,250
|
|
|
|
119,565
|
|
3.625%, 06/16/23
|
|
THB
|
|
|
15,000
|
|
|
|
442,985
|
|
3.580%, 12/17/27
|
|
THB
|
|
|
7,017
|
|
|
|
199,593
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
762,143
|
|
|
|
|
|
|
|
|
|
|
|
|
Turkey 6.5%
|
|
|
|
|
|
|
|
|
|
|
Turkey Government Bond
10.500%, 01/15/20
|
|
TRY
|
|
|
1,430
|
|
|
|
640,799
|
|
9.500%, 01/12/22
|
|
TRY
|
|
|
1,665
|
|
|
|
711,488
|
|
7.100%, 03/08/23
|
|
TRY
|
|
|
3,225
|
|
|
|
1,183,375
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,535,662
|
|
|
|
|
|
|
|
|
|
|
|
|
Uganda 4.7%
|
|
|
|
|
|
|
|
|
|
|
Republic of Uganda Government Bond
11.000%, 01/21/21
|
|
UGX
|
|
|
245,000
|
|
|
|
84,120
|
|
10.750%, 01/26/17
|
|
UGX
|
|
|
1,740,800
|
|
|
|
658,809
|
|
10.750%, 02/22/18
|
|
UGX
|
|
|
1,500,000
|
|
|
|
555,510
|
|
Republic of Uganda Government Bonds
14.625%, 11/01/18
|
|
UGX
|
|
|
330,900
|
|
|
|
138,193
|
|
10.250%, 10/09/14
|
|
UGX
|
|
|
1,053,000
|
|
|
|
424,439
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,861,071
|
|
|
|
|
|
|
|
|
|
|
|
|
Uruguay 0.8%
|
|
|
|
|
|
|
|
|
|
|
Uruguay Notas del Tesoro
11.000%, 03/21/17
|
|
UYU
|
|
|
4,350
|
|
|
|
175,708
|
|
Uruguay Treasury Bills
13.551%, 11/07/14 (C)
|
|
UYU
|
|
|
3,800
|
|
|
|
153,146
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
328,854
|
|
|
|
|
|
|
|
|
|
|
|
|
Venezuela 3.7%
|
|
|
|
|
|
|
|
|
|
|
Petroleos de Venezuela
5.250%, 04/12/17
|
|
|
|
|
590
|
|
|
|
399,725
|
|
4.900%, 10/28/14
|
|
|
|
|
1,132
|
|
|
|
1,049,930
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,449,655
|
|
|
|
|
|
|
|
|
|
|
|
|
3
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS DEBT FUND
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
GLOBAL BONDS continued
|
|
|
|
|
|
|
|
|
|
|
Face
Amount
(000)
(1)
/
Number of
Warrants/
Shares
|
|
|
Value
|
|
Zambia 3.4%
|
|
|
|
|
|
|
|
|
|
|
Zambia Government Bond
15.000%, 08/15/23
|
|
ZMK
|
|
|
320
|
|
|
$
|
48,442
|
|
14.000%, 08/16/18
|
|
ZMK
|
|
|
290
|
|
|
|
47,396
|
|
13.000%, 09/01/22
|
|
ZMK
|
|
|
2,800
|
|
|
|
412,491
|
|
12.000%, 02/20/17
|
|
ZMK
|
|
|
980
|
|
|
|
157,036
|
|
11.000%, 09/02/17
|
|
ZMK
|
|
|
2,615
|
|
|
|
402,218
|
|
10.000%, 03/19/15
|
|
ZMK
|
|
|
1,565
|
|
|
|
267,569
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,335,152
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL GLOBAL BONDS
(Cost $41,450,604)
|
|
|
|
|
|
|
|
|
36,561,162
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WARRANTS 1.0%
|
|
|
|
|
|
|
|
|
Central Bank of Nigeria, Expires 11/15/20 *
|
|
|
|
|
1,250
|
|
|
|
202,500
|
|
Venezuela Government International Bond, Expires 04/15/20 *
|
|
|
|
|
7,000
|
|
|
|
169,750
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL WARRANTS
(Cost $456,000)
|
|
|
|
|
|
|
|
|
372,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT 5.0%
|
|
|
|
|
|
|
|
|
Reich & Tang Daily Money Market Fund, Institutional
Class, 0.040%
(D) (Cost $1,980,290)
|
|
|
|
|
1,980,290
|
|
|
|
1,980,290
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS 99.1%
(Cost $43,886,894)
|
|
|
|
|
|
|
|
$
|
38,913,702
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS DEBT FUND
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
The summary of outstanding forward foreign currency contracts held by the Fund at January 31, 2014, is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Settlement
Date
|
|
Currency to Receive
|
|
|
Currency to Deliver
|
|
|
Contract
Value
|
|
|
Unrealized
Appreciation
(Depreciation)
|
|
2/3/14-3/18/14
|
|
USD
|
|
|
392,197
|
|
|
|
ZAR
|
|
|
|
(4,408,522
|
)
|
|
$
|
(395,263
|
)
|
|
$
|
(3,067
|
)
|
2/6/14
|
|
HRK
|
|
|
7,691,310
|
|
|
|
EUR
|
|
|
|
(1,005,000
|
)
|
|
|
1,355,765
|
|
|
|
291
|
|
2/6/14
|
|
EUR
|
|
|
1,003,419
|
|
|
|
HRK
|
|
|
|
(7,691,310
|
)
|
|
|
1,353,342
|
|
|
|
(2,423
|
)
|
2/7/14
|
|
USD
|
|
|
755,000
|
|
|
|
HUF
|
|
|
|
(170,356,300
|
)
|
|
|
(735,690
|
)
|
|
|
19,310
|
|
2/7/14
|
|
HUF
|
|
|
588,300,000
|
|
|
|
USD
|
|
|
|
(2,650,000
|
)
|
|
|
2,540,594
|
|
|
|
(109,406
|
)
|
2/10/14
|
|
USD
|
|
|
406,977
|
|
|
|
ARS
|
|
|
|
(3,500,000
|
)
|
|
|
(425,241
|
)
|
|
|
(21,264
|
)
|
2/10/14
|
|
ARS
|
|
|
980,200
|
|
|
|
USD
|
|
|
|
(145,000
|
)
|
|
|
119,932
|
|
|
|
(25,068
|
)
|
2/10/14-2/28/14
|
|
USD
|
|
|
830,000
|
|
|
|
UAH
|
|
|
|
(7,242,500
|
)
|
|
|
(829,606
|
)
|
|
|
394
|
|
2/10/14-6/3/14
|
|
ARS
|
|
|
8,548,550
|
|
|
|
USD
|
|
|
|
(1,125,000
|
)
|
|
|
920,430
|
|
|
|
(204,570
|
)
|
2/10/14-10/3/14
|
|
USD
|
|
|
1,284,000
|
|
|
|
INR
|
|
|
|
(83,524,660
|
)
|
|
|
(1,318,163
|
)
|
|
|
(34,163
|
)
|
2/10/14-10/3/14
|
|
INR
|
|
|
63,828,800
|
|
|
|
USD
|
|
|
|
(980,000
|
)
|
|
|
1,000,612
|
|
|
|
20,612
|
|
2/13/14
|
|
USD
|
|
|
914,510
|
|
|
|
COP
|
|
|
|
(1,778,669,750
|
)
|
|
|
(881,694
|
)
|
|
|
32,816
|
|
2/13/14
|
|
USD
|
|
|
1,630,000
|
|
|
|
MYR
|
|
|
|
(5,296,737
|
)
|
|
|
(1,581,634
|
)
|
|
|
48,366
|
|
2/13/14
|
|
COP
|
|
|
685,125,000
|
|
|
|
USD
|
|
|
|
(350,000
|
)
|
|
|
339,619
|
|
|
|
(10,381
|
)
|
2/13/14
|
|
MYR
|
|
|
14,413,586
|
|
|
|
USD
|
|
|
|
(4,475,000
|
)
|
|
|
4,303,973
|
|
|
|
(171,027
|
)
|
2/18/14
|
|
USD
|
|
|
215,000
|
|
|
|
CZK
|
|
|
|
(4,328,466
|
)
|
|
|
(212,040
|
)
|
|
|
2,960
|
|
2/20/14
|
|
USD
|
|
|
178,159
|
|
|
|
CLP
|
|
|
|
(96,847,500
|
)
|
|
|
(173,946
|
)
|
|
|
4,214
|
|
2/20/14
|
|
CLP
|
|
|
96,847,500
|
|
|
|
USD
|
|
|
|
(185,000
|
)
|
|
|
173,946
|
|
|
|
(11,054
|
)
|
2/21/14-12/9/14
|
|
USD
|
|
|
1,005,000
|
|
|
|
PEI
|
|
|
|
(2,919,670
|
)
|
|
|
(994,892
|
)
|
|
|
10,108
|
|
2/21/14-12/9/14
|
|
PEI
|
|
|
4,617,630
|
|
|
|
USD
|
|
|
|
(1,608,995
|
)
|
|
|
1,593,256
|
|
|
|
(15,739
|
)
|
2/26/14
|
|
PLN
|
|
|
11,141,836
|
|
|
|
USD
|
|
|
|
(3,596,113
|
)
|
|
|
3,529,123
|
|
|
|
(66,990
|
)
|
2/26/14-3/3/14
|
|
USD
|
|
|
430,000
|
|
|
|
PLN
|
|
|
|
(1,324,138
|
)
|
|
|
(419,366
|
)
|
|
|
10,634
|
|
2/27/14
|
|
RON
|
|
|
1,925,493
|
|
|
|
EUR
|
|
|
|
(431,000
|
)
|
|
|
575,998
|
|
|
|
(5,338
|
)
|
2/28/14
|
|
USD
|
|
|
2,172,148
|
|
|
|
MXP
|
|
|
|
(28,396,439
|
)
|
|
|
(2,118,704
|
)
|
|
|
53,444
|
|
2/28/14
|
|
MXP
|
|
|
44,278,570
|
|
|
|
USD
|
|
|
|
(3,368,000
|
)
|
|
|
3,303,695
|
|
|
|
(64,305
|
)
|
3/3/14
|
|
PLN
|
|
|
1,098,869
|
|
|
|
EUR
|
|
|
|
(260,000
|
)
|
|
|
347,951
|
|
|
|
(2,741
|
)
|
3/3/14
|
|
EUR
|
|
|
220,000
|
|
|
|
PLN
|
|
|
|
(925,498
|
)
|
|
|
296,739
|
|
|
|
3,686
|
|
3/3/14
|
|
GTQ
|
|
|
6,702,250
|
|
|
|
USD
|
|
|
|
(830,000
|
)
|
|
|
854,673
|
|
|
|
24,673
|
|
3/10/14-6/27/14
|
|
USD
|
|
|
1,853,101
|
|
|
|
TRY
|
|
|
|
(3,730,461
|
)
|
|
|
(1,601,035
|
)
|
|
|
252,066
|
|
3/10/14-6/27/14
|
|
TRY
|
|
|
6,161,268
|
|
|
|
USD
|
|
|
|
(2,990,000
|
)
|
|
|
2,665,285
|
|
|
|
(324,716
|
)
|
3/18/14
|
|
ZAR
|
|
|
19,162,501
|
|
|
|
USD
|
|
|
|
(1,815,000
|
)
|
|
|
1,712,854
|
|
|
|
(102,146
|
)
|
3/20/14
|
|
UYU
|
|
|
9,752,400
|
|
|
|
USD
|
|
|
|
(430,000
|
)
|
|
|
433,063
|
|
|
|
3,063
|
|
3/20/14-7/25/14
|
|
USD
|
|
|
805,000
|
|
|
|
UYU
|
|
|
|
(18,676,700
|
)
|
|
|
(815,320
|
)
|
|
|
(10,320
|
)
|
3/20/14-8/13/14
|
|
RUB
|
|
|
73,843,320
|
|
|
|
USD
|
|
|
|
(2,172,000
|
)
|
|
|
2,040,702
|
|
|
|
(131,298
|
)
|
3/26/14-6/18/14
|
|
KZT
|
|
|
276,624,750
|
|
|
|
USD
|
|
|
|
(1,752,000
|
)
|
|
|
1,749,163
|
|
|
|
(2,837
|
)
|
3/31/14
|
|
HUF
|
|
|
94,350,827
|
|
|
|
EUR
|
|
|
|
(315,000
|
)
|
|
|
405,862
|
|
|
|
(18,988
|
)
|
4/3/14
|
|
USD
|
|
|
415,000
|
|
|
|
PHP
|
|
|
|
(18,467,500
|
)
|
|
|
(407,128
|
)
|
|
|
7,872
|
|
4/4/14
|
|
NGN
|
|
|
52,928,000
|
|
|
|
USD
|
|
|
|
(320,000
|
)
|
|
|
318,970
|
|
|
|
(1,030
|
)
|
4/8/14
|
|
USD
|
|
|
300,000
|
|
|
|
KRW
|
|
|
|
(319,800,000
|
)
|
|
|
(297,567
|
)
|
|
|
2,433
|
|
4/14/14
|
|
USD
|
|
|
2,985,000
|
|
|
|
RUB
|
|
|
|
(100,934,790
|
)
|
|
|
(2,827,709
|
)
|
|
|
157,291
|
|
4/16/14
|
|
USD
|
|
|
171,034
|
|
|
|
EUR
|
|
|
|
(125,000
|
)
|
|
|
(168,593
|
)
|
|
|
2,441
|
|
4/16/14
|
|
USD
|
|
|
440,000
|
|
|
|
THB
|
|
|
|
(14,663,000
|
)
|
|
|
(442,445
|
)
|
|
|
(2,445
|
)
|
4/16/14
|
|
THB
|
|
|
98,789,400
|
|
|
|
USD
|
|
|
|
(2,995,000
|
)
|
|
|
2,980,895
|
|
|
|
(14,105
|
)
|
4/28/14
|
|
USD
|
|
|
965,000
|
|
|
|
BRL
|
|
|
|
(2,355,256
|
)
|
|
|
(954,751
|
)
|
|
|
10,249
|
|
5/8/14
|
|
USD
|
|
|
451,417
|
|
|
|
CNH
|
|
|
|
(2,787,703
|
)
|
|
|
(460,435
|
)
|
|
|
(9,018
|
)
|
5/8/14
|
|
CNH
|
|
|
2,787,703
|
|
|
|
USD
|
|
|
|
(445,000
|
)
|
|
|
460,435
|
|
|
|
15,435
|
|
5/12/14-6/30/14
|
|
EGP
|
|
|
9,805,760
|
|
|
|
USD
|
|
|
|
(1,315,000
|
)
|
|
|
897,445
|
|
|
|
43,753
|
|
6/18/14
|
|
USD
|
|
|
847,292
|
|
|
|
KZT
|
|
|
|
(136,583,500
|
)
|
|
|
(856,674
|
)
|
|
|
(9,382
|
)
|
7/24/14-8/19/14
|
|
USD
|
|
|
1,000,000
|
|
|
|
IDR
|
|
|
|
(11,416,200,000
|
)
|
|
|
(903,686
|
)
|
|
|
96,314
|
|
7/24/14-8/19/14
|
|
IDR
|
|
|
11,416,200,000
|
|
|
|
USD
|
|
|
|
(911,141
|
)
|
|
|
903,686
|
|
|
|
(7,455
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
(558,851
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS DEBT FUND
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
A summary of the counterparties for the open forward foreign currency contracts held by the Fund at January 31,2014, is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Counterparty
|
|
Currency to
Receive
|
|
|
Currency to
Deliver
|
|
|
Unrealized
Appreciation
(Depreciation)
|
|
Bank of New York
|
|
$
|
630,000$
|
|
|
$
|
(619,168
|
)
|
|
$
|
10,832
|
|
Brown Brothers Harriman
|
|
|
5,400,645
|
|
|
|
(5,595,953
|
)
|
|
|
(195,308
|
)
|
Citigroup
|
|
|
4,775,214
|
|
|
|
(4,708,231
|
)
|
|
|
66,983
|
|
HSBC
|
|
|
1,602,736
|
|
|
|
(1,588,923
|
)
|
|
|
13,813
|
|
State Street
|
|
|
20,591,651
|
|
|
|
(20,511,092
|
)
|
|
|
80,559
|
|
UBS
|
|
|
25,084,903
|
|
|
|
(25,620,633
|
)
|
|
|
(535,730
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
(558,851
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the period ended January 31, 2014, the total amount of all open forward foreign currency
contracts, as presented in the table above, are representative of the volume of activity for this derivative type during the period.
Currency Legend
|
|
|
|
|
|
|
|
|
|
|
ARS
|
|
Argentine Peso
|
|
HUF
|
|
Hungarian Forint
|
|
RON
|
|
Romanian Leu
|
BRL
|
|
Brazilian Real
|
|
IDR
|
|
Indonesia Rupiah
|
|
RSD
|
|
Serbian Dinar
|
CLP
|
|
Chilean Peso
|
|
INR
|
|
Indian Rupee
|
|
RUB
|
|
Russian Ruble
|
CNH
|
|
Chinese Offshore Yuan Renminbi
|
|
KRW
|
|
South Korean Won
|
|
THB
|
|
Thai Baht
|
COP
|
|
Colombian Peso
|
|
KZT
|
|
Kazakhstan Tenge
|
|
TRY
|
|
Turkish Lira
|
CZK
|
|
Czech Koruna
|
|
MXN
|
|
Mexican Peso
|
|
UAH
|
|
Ukraine Hryvnia
|
DOP
|
|
Dominican Peso
|
|
MYR
|
|
Malaysian Ringgit
|
|
UGX
|
|
Ugandan Shilling
|
EGP
|
|
Egyption Pound
|
|
NGN
|
|
Nigerian Naira
|
|
USD
|
|
U.S. Dollar
|
EUR
|
|
Euro Dollar
|
|
PEI
|
|
Peruvian Inca
|
|
UYU
|
|
Uruguayan Peso
|
GHS
|
|
Ghana Cedi
|
|
PEN
|
|
Peruvian Nuevo Sol
|
|
ZAR
|
|
South African Rand
|
GTQ
|
|
Guatemalan Quetzal
|
|
PHP
|
|
Philippine Peso
|
|
ZMK
|
|
Zambian Kwacha
|
HRK
|
|
Croatian Kuna
|
|
PLN
|
|
Polish Zloty
|
|
|
|
|
Outstanding open swap agreements held by the Fund at January 31, 2014, is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Rate Swaps
|
|
Counterparty
|
|
Fund Pays
|
|
Fund
Receives
|
|
|
Termination
Date
|
|
|
Currency
|
|
Notional
Amount
|
|
|
Net Unrealized
Depreciation
|
|
Citigroup
|
|
Float Quarterly JIBAR
|
|
|
6.64
|
%
|
|
|
12/13/2016
|
|
|
ZAR
|
|
|
16,000,000
|
|
|
$
|
(40,458
|
)
|
Citigroup
|
|
Float Quarterly JIBAR
|
|
|
6.07
|
%
|
|
|
08/15/2015
|
|
|
ZAR
|
|
|
18,000,000
|
|
|
|
(24,814
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
(65,272
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the period ended January 31, 2014, the total amount of all open swap agreements, as presented in
the tables above, are representative of the volume of activity for this derivative type during the period.
Percentages are
based on Net Assets of $39,254,788.
*
|
|
Non-income producing security.
|
(1)
|
|
In U.S dollars unless otherwise indicated.
|
(A)
|
|
Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as
amended, and may be sold only to dealers in that program or other accredited investors. These securities have been determined to be liquid under guidelines established by the Board of Trustees.
|
(B)
|
|
Security in default on interest payments.
|
(C)
|
|
Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.
|
(D)
|
|
The rate reported is the 7-day effective yield as of January 31, 2014.
|
|
|
At January 31, 2014, the tax basis cost of the Funds investments was $43,886,894, and the unrealized appreciation and depreciation were
$137,152 and $(5,110,344,) respectively.
|
JIBAR Johannesburg Interbank Agreed Rate
MTN Medium Term Note
Ser Series
6
|
|
|
THE ADVISORS INNER CIRCLE FUND
|
|
ACADIAN EMERGING
|
|
|
MARKETS DEBT FUND
|
|
|
JANUARY 31, 2014
|
|
|
(Unaudited)
|
The list of inputs used to value the Funds net assets as of January 31, 2014 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments
in Securities
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Global Bonds
|
|
$
|
|
|
|
$
|
36,561,162
|
|
|
$
|
|
|
|
$
|
36,561,162
|
|
Warrants
|
|
|
|
|
|
|
372,250
|
|
|
|
|
|
|
|
372,250
|
|
Short-Term Investment
|
|
|
1,980,290
|
|
|
|
|
|
|
|
|
|
|
|
1,980,290
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments in Securities
|
|
$
|
1,980,290
|
|
|
$
|
36,933,412
|
|
|
$
|
|
|
|
$
|
38,913,702
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial
Instruments*
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Forward Contracts
Appreciation
|
|
$
|
|
|
|
$
|
842,570
|
|
|
$
|
|
|
|
$
|
842,570
|
|
Forward Contracts
Depreciation
|
|
|
|
|
|
|
(1,401,421
|
)
|
|
|
|
|
|
|
(1,401,421
|
)
|
Interest Rate Swaps
Depreciation
|
|
|
|
|
|
|
(65,272
|
)
|
|
|
|
|
|
|
(65,272
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Financial Instruments
|
|
$
|
|
|
|
$
|
(624,123
|
)
|
|
$
|
|
|
|
$
|
(624,123
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Forward contracts and swaps are valued at the net unrealized appreciation (depreciation) on the
instrument.
Amounts designated as are either $0 or have been rounded to $0.
For the period ended January 31, 2014, there have been no transfers between Level 1 and Level 2 assets and liabilities.
For the period ended January 31, 2014, there have been no transfers between Level 2 and Level 3 assets and
liabilities.
For the period ended January 31, 2014 there were no Level 3 investments.
For information on the Funds policy regarding valuation of investments and other significant accounting policies, please refer to
the Funds most recent semi-annual or annual financial statements.
ACA-QH-003-1400
7
Item 2.
|
Controls and Procedures
|
(a) The
registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company
Act of 1940 (the 1940 Act)) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date
within 90 days of the filing date of this report.
(b) There were no significant changes in the registrants internal control over
financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control
over financial reporting.
(a) A separate certification
for the principal executive officer and the principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), are filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
|
|
|
|
|
|
|
(Registrant)
|
|
|
|
|
|
The Advisors Inner Circle Fund
|
|
|
|
|
By (Signature and Title)
|
|
|
|
|
|
/s/ Michael Beattie
|
|
|
|
|
|
|
Michael Beattie
|
|
|
|
|
|
|
President
|
Date: March 31, 2014
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.
|
|
|
|
|
|
|
By (Signature and Title)
|
|
|
|
|
|
/s/ Michael Beattie
|
|
|
|
|
|
|
Michael Beattie
|
|
|
|
|
|
|
President
|
Date: March 31, 2014
|
|
|
|
|
|
|
By (Signature and Title)
|
|
|
|
|
|
/s/ Michael Lawson
|
|
|
|
|
|
|
Michael Lawson
|
|
|
|
|
|
|
Treasurer, Controller & CFO
|
Date: March 31, 2014
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