HOLLYWOOD POLICE PDF
LOCK TOTAL FUND EXECUTIVE HERE LOCK LOCK TOTAL FUND UNIVERSE HERE(p1) LOCK TOTAL FUND UNIVERSE HERE(p2) LOCK TOTAL FUND RISK MEASURES LOCK LOCK TOTAL EQUITY EXECUTIVE HERE LOCK LOCK TOTAL EQUITY UNIVERSE HERE(p1) TOTAL EQUITY UNIVERSE HERE(p2) LOCK LOCK TOTAL EQUITY RISK HERE LOCK LOCK TOTAL FIXED EXECUTIVE HERE LOCK TOTAL FIXED UNIVERSE HERE(p1) TOTAL FIXED UNIVERSE HERE(p2) LOCK LOCK TOTAL FIXED RISK MEAS. HERE LOCK
START @B3 Hollywood Police Pension Fund START @E3 Hollywood Police Pension Fund % Hollywood Police Pension Fund START @H3 Hollywood Police Pension Fund % START @N3 Hollywood Police Pension Fund START @Q3 Hollywood Police Pension Fund Hollywood Police Pension Fund % Hollywood Police Pension Fund Hollywood Police Pension Fund Hollywood Police Pension Fund Hollywood Police Pension Fund Hollywood Police Pension Fund
Total Fund Total Gross Returns Total Fund Total Gross Returns Total Gross Returns Total Fund Total Gross Returns Total Equity Total Equity Returns Total Equity Total Equity Returns Total Equity Returns Total Equity Returns INVERNESS Bond Returns INVERNESS Bond Returns INVERNESS Bond Returns INVERNESS Bond Returns
Executive Summary Universe Universe Comparisons Universe Comparisons Risk Measures Risk Measures Executive Summary Universe Universe Comparisons Universe Comparisons Risk Measures Executive Summary Universe Comparisons Universe Comparisons Risk Measures
3 33%BLCC,10%BLCGC,7%BLCVC,4%BSC,23%BFI,23%IFI 33%BLCC,10%BLCGC,7%BLCVC,4%BSC,23%BFI,23%IFI 22 37 61.1%BLCC, 18.5%BLCGC, 13%BLCVC, 7.4%BSC 61.1%BLCC, 18.5%BLCGC, 13%BLCVC, 7.4%BSC 45 26 50% Broad FI, 50% Intermediate FI 50% Broad FI, 50% Intermediate FI 34
Inception date is September 30, 1992 5 6 3 Yr Inception date is September 30, 1992 39 40 3 Yr Inception date is September 30, 1992 28 29 3 Yr
All dollar values are shown in thousands. Returns are in percent. "%-tile" is the percentile ranking within the universe. Returns are in percent. "%-tile" is the percentile ranking within the universe. # of Negative Qtrs All dollar values are shown in thousands. Returns are in percent. "%-tile" is the percentile ranking within the universe. Returns are in percent. "%-tile" is the percentile ranking within the universe. # of Negative Qtrs All dollar values are shown in thousands. Returns are in percent. "%-tile" is the percentile ranking within the universe. Returns are in percent. "%-tile" is the percentile ranking within the universe. # of Negative Qtrs
Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. # of Positive Qtrs Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. # of Positive Qtrs Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. # of Positive Qtrs
Returns are gross of fees. Incept is September 30, 1992 to March 31, 2006 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is September 30, 1992 to March 31, 2006 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is September 30, 1992 to March 31, 2006 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through March 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr
Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund Index Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund Index Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund Index Best Qtr
Net Flows 75-95th %tile Fund Index -20.00% Range Net Flows 75-95th %tile Fund Index -50.00% Range Net Flows 75-95th %tile Fund Index -5.00% Range
Investment G/L -5.00% -10.00% Worst 4 Qtrs Investment G/L -10.00% -40.00% Worst 4 Qtrs Investment G/L 0.00% 0.00% Worst 4 Qtrs
Ending Value 0.00% 0.00% Standard Deviation Ending Value -5.00% -30.00% Standard Deviation Ending Value 1.00% 5.00% Standard Deviation
3/31/2006 5.00% 10.00% Beta 3/31/2006 0.00% -20.00% Beta 3/31/2006 2.00% 10.00% Beta
Qtr 10.00% 20.00% Annualized Alpha Qtr 5.00% -10.00% Annualized Alpha Qtr 3.00% 15.00% Annualized Alpha
175,351 15.00% 30.00% R-Squared 106,039 10.00% 0.00% R-Squared 63,453 4.00% 20.00% R-Squared
-428 20.00% 40.00% Sharpe Ratio -292 15.00% 10.00% Sharpe Ratio 194 5.00% 25.00% Sharpe Ratio
6,152 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 6,377 20.00% 20.00% Treynor Ratio -291 6.00% Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio
181,076 Trailing Returns through March 31, 2006 Fiscal Year Returns Ending September Tracking Error 112,125 25.00% 30.00% Tracking Error 63,357 7.00% Fiscal Year Returns Ending September Tracking Error
2006 Fund Fund Information Ratio 2006 30.00% 40.00% Information Ratio 2006 8.00% Fund Information Ratio
YTD Return Return Fund YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 50.00% Fund YTD 9.00% Return Fund
172,597 %-tile %-tile 2 103,027 Trailing Returns through March 31, 2006 60.00% 2 63,632 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr %-tile 4
-362 Index   Index 10 343 Fund Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998   10 -259 Trailing Returns through March 31, 2006 Index 8
8,841 Return Return 66.67 8,755 Return Fiscal Year Returns Ending September 41.67 -16 Fund Return 66.67
181,076 %-tile   %-tile -0.78 112,125 %-tile Fund   -2.4 63,357 Return %-tile -2.18
9/30/1992 Universe Universe 7.4 9/30/1992 Index Return 12.58 9/30/1992 %-tile Universe 3.25
Incept 5th %-tile 5th %-tile 8.18 Incept Return %-tile 14.98 Incept Index 5th %-tile 5.43
59,084 25th %-tile 25th %-tile 4.94 18,638 %-tile Index 6.27 36,929 Return 25th %-tile 0.65
-1,021 50th %-tile 50th %-tile 5.02 12,266 Universe Return 8.81 -11,990 %-tile 50th %-tile 3.73
123,013 75th %-tile 75th %-tile 0.91 81,221 5th %-tile %-tile 0.95 38,417 Universe 75th %-tile 0.87
181,076  181,076,000 95th %-tile 95th %-tile 0.97 112,125   112,125,000 25th %-tile Universe 0.21 63,357    63,357,000  5th %-tile  95th %-tile 0.82
Investment Policy 1 Yr Qtr 0.89 Investment Policy 50th %-tile 5th %-tile 0.95 Investment Policy 25th %-tile Qtr 0.99
Index 9.51 0.0951 3.52 0.0352 1.77 Index 75th %-tile 25th %-tile 1.75 Index 50th %-tile QU. FUND -0.46 -0.0046 0.29
S&P 500 1 Yr FUND 27 9 9.78 S&P 500 95th %-tile 50th %-tile 16.24 Lehman Gov/Credit-Intermediate 75th %-tile UNIVERSE 66 1.23
Lehman Gov/Credit-Intermediate UNIVERSE 8.04 0.0804 2.32 0.0232 1.7 Russell 1000 Growth 1 Yr   75th %-tile   2.05 Lehman Gov/Credit Bond 95th %-tile   POLICY -0.7 -0.007 0.7
Lehman Gov/Credit Bond POLICY 69 64 0.04 Russell 1000 Value 14.62 0.1462   95th %-tile -0.33 Total 1 Yr 88   0.71
Other 11.53 Qtr 3.78 Index Russell 2000 1 Yr FUND 39   Qtr Qtr Index Weight 2.05 0.0205 1.05 Index
Weight 9.61 UNIVERSE 2.95 2 Weight UNIVERSE 13.23 0.1323 UNIVERSE 5.99 0.0599 2 50 58 0.09   5
33 8.63 POLICY 2.52 10 61.1 POLICY 64 POLICY 14 10 50 1 Yr FUND 2.04 0.0204 -0.3 7
23 7.82 2.13 33.33 18.5 19.21 4.93 0.0493 58.33 100 UNIVERSE 59 -0.58 33.33
23 6.43 1.5 -1.67 13 15.49 48 -2.46 Trailing Returns through March 31, 2006 POLICY 4.64 -0.86 -2.84
21 2 Yr   YTD 9.86 7.4 13.96 6.84   15.78 Fund 2.49 YTD 3.13
Trailing Returns through March 31, 2006 7.2 5.15 11.53 Trailing Returns through March 31, 2006 12.54 5.51 18.24 Index 2.13 -0.03   5.97
Fund 21   10 3.54 Fund 10.67 4.9   5.26 Diff 1.83 71 -0.38
Index 5.77 3.74 5.2 Index 2 Yr 4.33 9 1 Yr 1.48 -0.15   4.27
Diff 62 70 1 Diff 11.13 3.51 1 2.05 2 Yr 80 1
1 Yr 8.36 5.64 0 1 Yr 22 YTD 0 2.04 1.35 1.8 0
9.51 6.97 4.59 1 14.62 9.76 8.42 1 0.01 60 0.64 1
8.04 6.09 4.14 1.7 13.23 54 21 1.79 2 Yr 1.03 0.2 0.13
1.47 5.46 3.64 8.84 1.39 13.5 7.11 16.11 1.35 84 -0.1 0.57
2 Yr 4.38 2.95 0 2 Yr 10.95 61 0 1.03 4.21 -0.4 0
7.2 3 Yr   2005 Diff 11.13 9.88 10.06 Diff 1/0/1900 1.92 2005 Diff
5.77 10.91 0.1091 9.21 0 9.76 8.99   8.15   0 3 Yr 1.49 2004 2.02 0.0202 -1
1.43 3 YR FUND 60   38 0 1.37 7.06 7.39   0 3.08 1.13 UNIVERSE 68 1
3 Yr UNIVERSE 10.85 0.1085 8.03 33.34 3 Yr 3 Yr 6.62     -16.66 2.58 0.69 POLICY 2.02 0.0202 33.34
10.91 POLICY 62 69   0.89 17.44 17.44 0.1744 5.72 0.06 0.5 3 Yr 68   0.66
10.85 14.16 2004 11.92 0.1192 -2.46 18.12 3 YR FUND 63   2004 2005 20.05 -3.2 4 Yr 3.08 0.0308 4.66 0.12
0.06 12.29 UNIVERSE 9.8   -3.35 -0.68 UNIVERSE 18.12 0.1812 UNIVERSE 14.34 -3.26 5.31 31 2.94   -0.54
4 Yr 11.32 POLICY 8.71 0.0871 1.4 4 Yr POLICY 47 POLICY 43 0.43 1.01 4.98 3 YR FUND 2.58 0.0258 2.38 1.03
6.36 10.35 7.86 -0.18 6.62 22.76 13.15 -0.19 0.33 UNIVERSE 50 1.89 -0.54
5.52 9.05 6.21 -0.09 5.4 19.42 64 -0.05 5 Yr POLICY 7.01 1.28 -0.13
0.84 4 Yr   2004 0.97 1.22 18 19.04   0.21 5.37 3.33 2004 0.82
5 Yr 6.36 8.55 -0.11 5 Yr 16.74 15.48 -0.05 4.97 2.57 2003 3.49 0.0349 -0.01
6.32 32   51 0.07 6.7 14.88 13.99   -0.04 0.4 2.1 UNIVERSE 33 0.16
4.94 5.52 8.75 0.94 4.27 4 Yr 12.49   0.13 6 Yr 1.61 POLICY 3 0.03 0.66
1.38 62 48   1.7 2.43 6.62 10.3 2.05 6.51 4 Yr 49   0.7
6 Yr 8.18 2003 11.82 0.1182 5 Yr 5 Yr 6 Yr 23 2003 2004 20.04 5 Yr 5 Yr 6.15 5.31 7.43 5 Yr 5 Yr
3.14 6.56 UNIVERSE 9.87   # of Negative Qtrs 0.24 5.4 UNIVERSE 12.54 # of Negative Qtrs 0.36 22 3.83   # of Negative Qtrs
2.33 5.84 POLICY 8.58 0.0858 # of Positive Qtrs -1.51 49 POLICY 51 0.51 # of Positive Qtrs 7 Yr 4.98 2.96 # of Positive Qtrs
0.81 5.11 7.45 Batting Average 1.75 9.37 13.64 Batting Average 5.76 29 2.27 Batting Average
7 Yr 3.89 5.7 Worst Qtr 7 Yr 6.47 37 Worst Qtr 5.53 7.09 1.54 Worst Qtr
4.84 5 Yr   2003 Best Qtr 1/3/1900 5.34 18.34 Best Qtr 1/0/1900 5.09 2003 Best Qtr
3.4 6.32 0.0632 13.14 Range 1.04 4.42 14.67 Range 8 Yr 4.46 2002 7.39 0.0739 Range
1/1/1900 5 YR FUND 14   89 Worst 4 Qtrs 1/2/1900 2.95 12.64 Worst 4 Qtrs 5.89 3.91 UNIVERSE 21 Worst 4 Qtrs
8 Yr UNIVERSE 4.94 0.0494 16.91 Standard Deviation 8 Yr 5 Yr 10.77   Standard Deviation 5.66 3.26 POLICY 6.26 0.0626 Standard Deviation
1/5/1900 POLICY 45 28   Beta 4.81 6.7 0.067 8.04 Beta 0.23 5 Yr 27   Beta
4.55 7.67 2002 20.95 0.2095 Annualized Alpha 3.1 5 YR FUND 14 2002 2003 20.03 Annualized Alpha 9 Yr 5.37 0.0537 15.41 Annualized Alpha
0.95 5.49 UNIVERSE 17.18   R-Squared 1.71 UNIVERSE 4.27 0.0427 UNIVERSE 20.44 R-Squared 6.49 17 6.36   R-Squared
9 Yr 4.81 POLICY 15.34 0.1534 Sharpe Ratio 9 Yr POLICY 53 POLICY 87 0.87 Sharpe Ratio 6.24 5 YR FUND 4.97 0.0497 4.78 Sharpe Ratio
7.66 4.19 14.01 Treynor Ratio 8.62 9.81 25.89 Treynor Ratio 0.25 UNIVERSE 25 3.82 Treynor Ratio
6.57 2.93 12.2 Tracking Error 1/7/1900 5.61 21 Tracking Error 10 Yr POLICY 6.26 2.69 Tracking Error
1.09 6 Yr   2002 Information Ratio 1/1/1900 4.38 28.1   Information Ratio 6.29 4.96 2002 Information Ratio
10 Yr 3.14 -1.69 Fund Fund 10 Yr 3.4 25.43 Fund Fund 6.08 4.44 2001 8.77 0.0877 Fund Fund
8.04 40   6 5 9.61 1.58 23.87   6 0.21 4 UNIVERSE 6 4
1/6/1900 2.33 -7.82 15 1/8/1900 6 Yr 22.08   14 9/30/1992 3.46 POLICY 8.65 0.0865 16
1.06 58 56   Batting Average 75 1.09 0.24 19.05 Batting Average 60 Incept 6 Yr 8   Batting Average 60
9/30/1992 7.43 2001 -0.87 -0.0087 -5.84 9/30/1992 42 2001 2002 20.02 -15 6.24 6.51 8.8 -2.18
Incept 4.13 UNIVERSE -6   7.4 Incept -1.51 UNIVERSE -9.95 13.48 1/6/1900 8 7.65   4.93
8.86 2.68 POLICY -7.59 -0.0759 13.24 11.45 66 POLICY 6 0.06 28.48 0.14 6.15 6.86 7.11
7.8 1.69 -8.72 -6.19 10.6 7.71 -20.84 -20.21   Fiscal Year Returns Ending September 16 5.67 0.65
1.06 -0.24 -10.68 Standard Deviation 6.4 0.85 2.34 72 Standard Deviation 13.35 Fund 6.64 1.79 Standard Deviation 3.77
Fiscal Year Returns Ending September 7 Yr 2001 Beta 0.85 Fiscal Year Returns Ending September -0.41 -9.21 Beta 0.91 Index 5.93 2001 Beta 0.89
Fund 4.84 -13.09 Annualized Alpha 2.03 0.0203 Fund -2.06 -17.18 Annualized Alpha 2.69 0.0269 Diff 5.52 2000 13.27 0.1327 Annualized Alpha 0.92 0.0092
Index 27 74 R-Squared 0.92 Index -5.3 -19.62 R-Squared 0.95 3/31/2006 5.07 UNIVERSE 4 R-Squared 0.98
Diff 3.4 -12.38 0.65 Diff 7 Yr -21.12   0.34 Qtr 4.46 POLICY 13.04 0.1304 0.86
3/31/2006 68 71   4.92 3/31/2006 3.57 -23.99 5.01 -0.46 7 Yr 7   3.63
Qtr 8.14 2000 1.96 0.0196 2.06 Qtr 29 2000 2001 20.01 3.21 -0.7 5.76 13.13 0.7
3.52 4.9 UNIVERSE -6.08   0.67 5.99 1.04 UNIVERSE -31.03 0.76 0.24 8 12.35   0.57
2.32 3.89 POLICY -9.9 -0.099 Policy Index 4.93 70 POLICY 73 0.73 Policy Index 2006 5.53 11.69 Policy Index
1.2 3.17 -13.34 7 1.06 10.85 -30.46 7 YTD 15 10.55 6
2006 2.08 -18.99 13 2006 3.96 71 13 ################################## 5.9 0.57 14
YTD 8 Yr 2000 25 YTD 1.97 -3.76 40 -0.15 5.28 2000 40
5.15 5.5 12.75 -7.1 8.42 0.71 -18.73 -16.86 0.12 4.92 6.22 -2.84
3.74 20 36 9.86 7.11 -1.4 -27.7 15.78 2005 4.56 33 5.11
1.41 4.55 9.42 16.96 1.31 8 Yr -31.47 32.64 2.02 4.12 6.47 7.95
2005 47 70 -8.99 2005 4.81 -40.46 -25.12 2.02 8 Yr 17 -0.38
9.21 6.91 26.59 Standard Deviation 7.23 14.34 22 2000 Standard Deviation 14.32 0 5.89 6.94 Standard Deviation 4.2
8.03 5.24 14.86 1 13.15 3.1 17.11 1 2004 3 6.33 1
1.18 4.48 10.93 0 1.19 56 38 0 3.49 5.66 5.96 0
2004 3.84 8.96 1 2004 7.53 12.38 1 3 8 5.47 1
8.55 2.79 4.02 0.39 12.54 4.53 70 0.15 0.49 5.75 2.92 0.67
8.75 9 Yr 1999 2.8 13.64 3.32 43.84 2.13 2003 5.28 1999 2.83
-0.2 7.66 14.56 0 -1.1 2.4 21.29 0 7.39 4.97 -0.41 0
2003 13 40 Diff 2003 0.72 14.79 Diff 6.26 4.65 72 Diff
13.14 6.57 12.85 -2 20.44 9 Yr 10.98 -1 1.13 4.19 -0.5 -2
16.91 44 58 2 25.89 8.62 1.34 1 2002 9 Yr 75 2
-3.77 8.76 23.28 50 -5.45 16 1999 20 8.77 6.49 3.72 20
2002 7.12 16.12 1.26 2002 7.31 30.59 1.86 8.65 5 1.67 0.66
-1.69 6.4 13.73 -2.46 -9.95 47 24 -2.3 0.12 6.24 0.54 -0.18
-7.82 5.8 9.27 -3.72 -20.84 10.85 26.68 -4.16 2001 11 -0.58 -0.84
6.13 4.55 2.8 2.8 10.89 7.99 53 4.91 13.27 6.41 -2.06 1.03
2001 10 Yr 1998 -0.83 2001 7.13 42.92 -0.97 13.04 5.92 1998 -0.43
-13.09 8.04 9.13 -0.15 -31.03 6 30.19 -0.09 0.23 5.59 11.65 -0.11
-12.38 10 11 2.03 -30.46 3.79 26.96 2.69 2000 5.22 7 0.92
-0.71 6.98 9.72 -0.08 -0.57 10 Yr 18.99 -0.05 6.22 4.75 11.62 -0.02
2000 36 8 0.26 2000 9.61 5.14 0.19 6.47 10 Yr 8 0.19
12.75 8.55 10.28 2.12 17.11 16 1998 2.88 -0.25 6.29 12.17 0.8
9.42 7.22 7.68 2.06 12.38 8.52 6.61 3.21 1999 7 9.97 0.7
3.33 6.71 5.46 10 Yr 4.73 34 40 10 Yr -0.41 6.08 8.86 10 Yr
1999 6.02 2.23 # of Negative Qtrs 1999 10.58 10.1 # of Negative Qtrs -0.5 13 7.67 # of Negative Qtrs
14.56 4.79 -5.66 # of Positive Qtrs 30.59 8.93 10 # of Positive Qtrs 0.09 6.39 2.96 # of Positive Qtrs
12.85 5.89 7.48 Batting Average 1/26/1900 7.83 12.16   Batting Average 6/20/1905 5.82 16.26   Batting Average
1.71 7.17 4.83 Worst Qtr 3.91 6.41 8.71 Worst Qtr 11.65 5.5 12.82 Worst Qtr
6/20/1905 5.92 1.43 Best Qtr 1998 3.49 4.56   Best Qtr 11.62 5.16 8.28   Best Qtr
9.13 4.24 -3.99 Range 6.61 6.08 -2.56 Range 0.03 4.76 27 Range
9.72 Worst 4 Qtrs 1/10/1900 7.63 -17.25   Worst 4 Qtrs 6/19/1905 4.94 9.46   Worst 4 Qtrs
-0.59 Standard Deviation -3.49 3.74 19 Standard Deviation 9.19 5.38 3.7 Standard Deviation
6/19/1905 Beta 1997 17.44   Beta 8.89 2.37   Beta
21.02 Annualized Alpha 35.14 15.88 Annualized Alpha 0.3 1.11 Annualized Alpha
1/20/1900 R-Squared 40.62 14.26 R-Squared Returns in Up Markets 0.39 R-Squared
0.5 Sharpe Ratio -5.48 YTD Sharpe Ratio Fund YTD Sharpe Ratio
Returns in Up Markets Treynor Ratio Returns in Up Markets 12.31 Treynor Ratio Index 4.44 Treynor Ratio
Fund Tracking Error Fund 65 Tracking Error Ratio 37 Tracking Error
Index Information Ratio Index 13.02 Information Ratio 3 Yr 5.23 Information Ratio
Ratio Fund Ratio 50 Fund 7.5 29 Fund
3 Yr 10 3 Yr 17.59 12 7.7 16.11 7
13.4 30 22.9 14.43 28 96.8 5.92 33
14.1 67.5 24.4 13.01 57.5 5 Yr 3.67 60
94.6 -5.87 93.9 11.77 -15 8.8 1.98 -2.18
5 Yr 11.41 5 Yr 9.97 22.14 8.9 0.87 4.93
14.8 17.28 26.5 2002 37.14 98.2 2002 7.11
15.9 -13.09 27.7 2002 FUND -21.65   -31.03 10 Yr 2002 FUND 10.49   -0.66
92.7 8.07 4/4/1900 UNIVERSE 88 15.36 1/9/1900 UNIVERSE 11 3.56
10 Yr 0.96 10 Yr POLICY -20.67   0.93 9.3 POLICY 11.02   0.95
1/16/1900 1.26 30.8 84   1.55 98.8 8 0.51
1/16/1900 0.93 1/31/1900 -9.82 0.94 9/30/1992 11.72   0.97
102 0.54 4/5/1900 -13.94 0.39 Incept 9.31 0.73
9/30/1992 4.53 9/30/1992 -16.68 6.37 9.9 7.69   2.74
Incept 2.22 Incept -19.33 3.79 10 4.45 0.63
16.1 0.48 27.1 -23.14 0.29 98.9 -2.07 0.33
1/15/1900 Index 27.6 2001 Index Returns in Down Markets 2001 Index
103.9 12 98.1 2001 FUND -5.89   13 Fund 2001 FUND 8.73   10
Returns in Down Markets 28 Returns in Down Markets UNIVERSE 74 27 Index UNIVERSE 14 30
Fund 32.5 Fund POLICY -11.08   42.5 Ratio POLICY 8.51   40
Index -7.1 Index 96 -16.86 3 Yr 18 -2.84
Ratio 10.4 Ratio 5.46 21.13 -2.8 9.68   5.11
3 Yr 17.5 3 Yr -0.02 37.99 -4.2 8.13 7.95
-0.3 -12.38 -3.3 -3.26 -30.46 65.3 7.33   -0.89
-2.1 8.07 -4.5 -6.04 15.97 5 Yr 6.21 3.71
15 1 72 -10.93 1 -2.2 0.36 1
5 Yr 0 5 Yr 2000 0 -3.7 2000 0
-7.7 1 -22.2 2000 FUND -5.56   1 58.3 2000 FUND 12.61   1
-12.8 0.41 -28.5 UNIVERSE 98 0.3 10 Yr UNIVERSE 8 0.64
60.6 3.29 77.9 POLICY -6.49   4.83 -2 POLICY 11.84   2.39
10 Yr 0 10 Yr 99 0 -3.1 15 0
-10.1 Diff -24.1 16.45 Diff 65.9 13.05   Diff
-12.5 -2 ################################ 9.38 -1 9/30/1992 11.01 -3
81.4 2 87.3 5.82 1 Incept 9.44   3
9/30/1992 35 9/30/1992 1.47 15 -2.7 7.02 20
Incept 1.23 Incept -4.06 1.86 -3.5 -8.83 0.66
-9.4 1.01 -23.5 1999 1.01 79.4 1999 -0.18
-11.5 -0.22 -26.6 1999 FUND 19.52   -0.85 1999 FUND -2.72   -0.84
82.2 -0.71 88.4 UNIVERSE 46 -0.57 UNIVERSE 88 0.23
0 POLICY 20.41   -0.61 POLICY -2.15   -0.15
-0.04 41 -0.07 83 -0.05
1.26 35.59 1.55 7   0.51
-0.07 24.4 -0.06 2.72 -0.03
0.13 18.88 0.09 0.33   0.09
1.24 13.96 1.54 -1.4 0.35
2.22 8.02 3.79 -3.93 0.63
Incept 1998 Incept 1998 Incept
# of Negative Qtrs 1998 FUND 16.91   # of Negative Qtrs 1998 FUND 9.74   # of Negative Qtrs
# of Positive Qtrs UNIVERSE 13 # of Positive Qtrs UNIVERSE 7 # of Positive Qtrs
Batting Average POLICY 20.4   Batting Average POLICY 9.47   Batting Average
Worst Qtr 6 Worst Qtr 8 Worst Qtr
Best Qtr 21.24 Best Qtr 9.93   Best Qtr
Range 14.25 Range 8.09 Range
Worst 4 Qtrs 9.97 Worst 4 Qtrs 6.94 Worst 4 Qtrs
Standard Deviation 6.68 Standard Deviation 5.76 Standard Deviation
Beta 1.46 Beta -0.13 Beta
Annualized Alpha 1997 Annualized Alpha 1997 Annualized Alpha
R-Squared 38.59 R-Squared 8.55 R-Squared
Sharpe Ratio 1 Sharpe Ratio 54 Sharpe Ratio
Treynor Ratio 30.86 Treynor Ratio 9.75 Treynor Ratio
Tracking Error 16 Tracking Error 26 Tracking Error
Information Ratio 33.38 Information Ratio 14.34 Information Ratio
Fund 29.54 Fund 9.77 Fund
11 26.7 13 8.72 12
43 23.64 41 7.12 42
66.67 16.88 53.7 5.89 62.96
-5.87 1996 -15 1996 -2.78
11.41 19.67 22.14 5.98 5.99
17.28 69 37.14 20 8.77
-13.09 21.34 -31.03 2.91 -3.65
7.39 52 13.9 74 3.74
0.96 28.78 0.94 13.49 0.96
1.29 24.05 1.44 5.37 0.35
0.91 21.49 0.93 3.97 0.97
0.68 18.8 0.55 2.83 0.64
5.22 14.89 8.09 1.19 2.49
2.22 1995 3.84 1995 0.65
0.48 37.47 0.22 23.05 0.22
Index 31.79 Index 18.43 Index
14 28.75 14 16.26 15
40 25.73 40 12.82 39
33.33 21.74 46.3 8.28 37.04
-7.1 -16.86 -2.84
10.4 21.13 5.74
17.5 37.99 8.58
-12.38 -30.46 -2.9
7.32 14.31 3.83
1 1 1
0 0 0
1 1 1
0.54 0.47 0.59
3.95 6.75 2.25
0 0 0
Diff Diff Diff
-3 -1 -3
3 1 3
33.34 7.4 25.92
1.23 1.86 0.06
1.01 1.01 0.25
-0.22 -0.85 0.19
-0.71 -0.57 -0.75
0.07 -0.41 -0.09
-0.04 -0.06 -0.04
1.29 1.44 0.35
-0.09 -0.07 -0.03
0.14 0.08 0.05
1.27 1.34 0.24
2.22 3.84 0.65