HOLLYWOOD POLICE PDF
LOCK INVERNESS EQUITY EXECUTIVE HERE LOCK LOCK INVERNESS EQ. UNIVERSE HERE(p1) INVERNESS EQ. UNIVERSE HERE(p2) LOCK LOCK INVERNESS EQUITY RISK HERE LOCK LOCK DHJ EQUITY EXECUTIVE HERE LOCK LOCK DHJ EQUITY EXECUTIVE HERE(p1) DHJ EQUITY EXECUTIVE HERE(P2) LOCK LOCK DHJ EQUITY RISK HERE LOCK EAGLE SMALL CAP EXECUTIVE HERE LOCK LOCK EAGLE SMALL CAP UNIVERSE HERE(P1) EAGLE SMALL CAP UNIVERSE HERE(p2) LOCK LOCK EAGLE SMALL CAP RISK HERE LOCK LOCK BUCKHEAD TOTAL EQ EXECUTIVE HERE LOCK LOCK BUCKHEAD TOTAL EQ UNIVERSE HERE(P1) BUCKHEAD TOTAL EQ UNIVERSE HERE(p2) LOCK LOCK BUCKHEAD TOTAL EQ RISK HERE LOCK LOCK LOCK LOCK LOCK LOCK LOCK LOCK
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 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 Hollywood Police Pension Fund Hollywood Police Pension Fund %
Inverness Stock Returns Inverness Stock Returns Inverness Stock Returns Inverness Stock Returns DHJ Total Gross Returns (Stocks + Cash) DHJ Total Gross Returns (Stocks + Cash) DHJ Total Gross Returns (Stocks + Cash) DHJ Total Gross Returns (Stocks + Cash) EAM Gross Total (Stocks + Cash) EAM Gross Total (Stocks + Cash) EAM Gross Total (Stocks + Cash) EAM Gross Total (Stocks + Cash) Buckhead Gross Total (Equity + Cash) Buckhead Gross Total (Equity + Cash) Buckhead Gross Total (Equity + Cash) Buckhead Gross Total (Equity + Cash)
Executive Summary Universe Comparisons Universe Comparisons Risk Measures Executive Summary Universe Comparisons Universe Comparisons Risk Measures Executive Summary Universe Comparisons Universe Comparisons Risk Measures Executive Summary Universe Comparisons Universe Comparisons Risk Measures
46 Broad Large Cap Core Broad Large Cap Core 54 56 Broad Large Cap Growth Core Broad Large Cap Growth Core 62 64 Broad Small Cap Broad Small Cap 70 72 Broad Large Cap Value Core Broad Large Cap Value Core 78
Inception date is September 30, 1992 48 49 3 Yr Inception date is March 31, 2000 58 59 3 Yr Inception date is March 31, 2003 66 67 Incept 1 Yr Inception date is December 31, 2003 74 75 1 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 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 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 December 31, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2000 to December 31, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2003 to December 31, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is December 31, 2003 to December 31, 2005 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through December 31, 2005 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 2005 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 2005 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 2005 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 S&P 500 Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund R1000G Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund FR2000 Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund R1000V Best Qtr
Net Flows 75-95th %tile Fund S&P 500 -40.00% Range Net Flows 75-95th %tile Fund R1000G -75.00% Range Net Flows 75-95th %tile Fund FR2000 -50.00% Range Net Flows 75-95th %tile Fund R1000V -30.00% Range
Investment G/L -5.00% -30.00% Worst 4 Qtrs Investment G/L -10.00% -50.00% Worst 4 Qtrs Investment G/L -5.00% -25.00% Worst 4 Qtrs Investment G/L 0.00% -20.00% Worst 4 Qtrs
Ending Value 0.00% -20.00% Standard Deviation Ending Value -5.00% -25.00% Standard Deviation Ending Value 0.00% 0.00% Standard Deviation Ending Value 5.00% -10.00% Standard Deviation
12/31/2005 5.00% -10.00% Beta 12/31/2005 0.00% 0.00% Beta 12/31/2005 5.00% 25.00% Beta 12/31/2005 10.00% 0.00% Beta
Qtr 10.00% 0.00% Annualized Alpha Qtr 5.00% 25.00% Annualized Alpha Qtr 10.00% 50.00% Annualized Alpha Qtr 15.00% 10.00% Annualized Alpha
61,936 15.00% 10.00% R-Squared 22,361 10.00% 50.00% R-Squared 8,379 15.00% 75.00% R-Squared 11,618 20.00% 20.00% R-Squared
389 20.00% 20.00% Sharpe Ratio -17 15.00% 75.00% Sharpe Ratio -17 20.00% 100.00% Sharpe Ratio -16 Qtr YTD 1 Yr Incept 30.00% Sharpe Ratio
1,206 25.00% 30.00% Treynor Ratio 721 20.00% Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 117 25.00% Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 344 Trailing Returns through December 31, 2005 40.00% Treynor Ratio
63,531 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 40.00% Tracking Error 23,066 25.00% Fiscal Year Returns Ending September Tracking Error 8,479 30.00% Fiscal Year Returns Ending September Tracking Error 11,946 Fund Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Tracking Error
2006 Trailing Returns through December 31, 2005 50.00% Information Ratio 2006 30.00% Fund Information Ratio 2006 35.00% Fund Information Ratio 2006 Return Fiscal Year Returns Ending September Information Ratio
YTD Fund Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Fund YTD 2 Qtrs 3 Qtrs 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr Return Fund YTD 40.00% Return Fund Fund YTD %-tile Fund Fund
61,936 Return Fiscal Year Returns Ending September 4 22,361 Trailing Returns through December 31, 2005 %-tile 4 8,379 Qtr YTD 1 Yr 2 Yr Incept %-tile 1 11,618 R1000V Return 0
389 %-tile Fund 8 -17 Fund R1000G 8 -17 Trailing Returns through December 31, 2005 FR2000 3 -16 Return %-tile 4
1,206 S&P 500 Return 41.67 721 Return Return 33.33 117 Fund Return Batting Average 75 344 %-tile R1000V 50
63,531 Return %-tile -1.92 23,066 %-tile %-tile -4.92 8,479 Return %-tile -3.18 11,946 Universe Return 0.39
9/30/1992 %-tile S&P 500 12.92 3/31/2000 R1000G Universe 11.01 3/31/2003 %-tile Universe 6.11 12/31/2003 5th %-tile %-tile 2.96
Incept Universe Return 14.84 Incept Return 5th %-tile 15.93 Incept FR2000 5th %-tile 9.29 Incept 25th %-tile Universe 2.57
  18,638 5th %-tile %-tile 5.29 10,795 %-tile 25th %-tile 3.94 4,822 Return 25th %-tile 8.08 7,800 50th %-tile 5th %-tile 5.18  
-24,914 25th %-tile Universe 8.87 13,574 Universe 50th %-tile 9.3 -155 %-tile 50th %-tile Standard Deviation 12.13 2,408 75th %-tile 25th %-tile 6.36
69,806 50th %-tile 5th %-tile 0.93 -1,303 5th %-tile 75th %-tile 0.95 3,812 Universe 75th %-tile Beta 0.84 1,738 95th %-tile 50th %-tile BETA 0.7
63,531  63,531,000  75th %-tile  25th %-tile 1.49 23,066  23,066,000 25th %-tile 95th %-tile -1.18 8,479    8,479,000 5th %-tile 95th %-tile Annualized Alpha 4.05 0.0405 11,946           11,946,000 Qtr 75th %-tile ALPHA 0.31 0.0031 #REF!
Investment Policy 95th %-tile 50th %-tile 0.9 Investment Policy 50th %-tile Qtr 0.95 Investment Policy 25th %-tile Qtr R-Squared 0.93 Investment Policy 2.96 0.0296 95th %-tile 0.6
Index 1 Yr 75th %-tile 1.5 Index 75th %-tile QU. FUND 3.22 0.0322 1.01 Index 50th %-tile QU. FUND 1.41 0.0141 0.42 Index 15   Qtr 0.34
S&P 500 7.98 0.0798 95th %-tile 14.27 Russell 1000 Growth 95th %-tile UNIVERSE 49   9.92 Russell 2000 75th %-tile UNIVERSE 55   6.05 Russell 1000 Value 1.26 0.0126 2.96 0.0296 3.11
Total 22   Qtr 2.8 Total 2 Qtrs POLICY 2.98 0.0298 2.23 Total 95th %-tile POLICY 1.13 0.0113 4.01 Total 76 15   4.53
Weight 4.91 0.0491 1.91 0.0191 0.23 Weight 6.81 59 -0.91 Weight Qtr 63 0.88 Weight 3.97 1.26 0.0126 -0.41
100 1 Yr FUND 58 QU. FUND 70   S&P 500 100 71 6.62 R1000G 100 1.41 0.0141 4.59 Policy FR2000 100 2.45 76 R1000V
100 UNIVERSE 11.35 UNIVERSE 2.09 0.0209 3 100 7.11 4.13 3 100 55 2.65 1 100 1.95 3.97 0
Trailing Returns through December 31, 2005 POLICY 7.45 POLICY 50 9 Trailing Returns through December 31, 2005 65 3.19   9 Trailing Returns through December 31, 2005 1.13 0.0113 1.55   3 Trailing Returns through December 31, 2005 1.3 2.45 4
Fund 5.38 4.22 58.33 Fund 14.83 2.25 66.67 Fund 63 0.61 25 Fund 0   1.95 50
S&P 500 4.27 2.82 -3.15 R1000G 9.49 1.16   -5.23 FR2000 4.59 -0.84   -5.34 R1000V YTD 1.3 0.09
Diff 1.07 2.08 15.39 Diff 7.68 YTD 14.31 Diff 2.65 YTD 4.69 Diff 2.96   0   3.88
1 Yr 2 Yr 1.68   18.54 1 Yr 6.45 3.22 19.54 1 Yr 1.55 1.41 10.03 1 Yr 15 YTD 3.79 1 Yr FUND #REF!
7.98 8.56 0.26 4.91 1/5/1900 4.7 49 1.16 1/8/1900 0.61 55 4.55 1/5/1900 1.26 2.96   7.05 UNIVERSE
4.91 39 YTD   9.04 5.26 3 Qtrs 2.98 9.53 4.55 -0.84 1.13 Standard Deviation 13.92 7.05 76 15 7.08 POLICY #REF!
3.07 7.85 1.91 1 -0.08 8.35 59 1 3.53 YTD 63 1 -1.87 3.97 1.26 1
2 Yr 50 70 0 2 Yr 79 6.62 0 2 Yr 1.41 4.59 0 2 Yr 2.45 76 0
8.56 13.41 2.09 1 1/5/1900 9.75 4.13 1 1/15/1900 55 2.65 1 1/8/1900 1.95 3.97 1
7.85 9.86 50 1.4 5.78 66 3.19 1.2 11.23 1.13 1.55 0.11 11.67 1.3 2.45 0.57
0.71 7.79 4.22 12.62 0.14 20.71 2.25 11.46 3.77 63 0.61 1.55 -3.15 0 1.95 4.05
3 Yr 6.91 2.82 0 3 Yr 13.42 1.16 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 4.59 -0.84 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 1 Yr 1.3 0
1/15/1900 4.05 2.08 Diff 11.19 10.87 2005   Diff 3/31/2003 INCEPTION 2.65 2005   Diff 12/31/2003 5.18 0.0518 0 Diff
Incept ROR 14.39 3 Yr 1.68 1   1/13/1900 8.72 2004 FUND 13.12 0.1312 1 Incept UNIVERSE 1.55 2004 FUND 21.9 0.219 0 Incept 54   2005 0     
Fund 0.65 15.04 0.1504 0.26 -1   -2.04 5.88 UNIVERSE 55   -1 23.77 POLICY 0.61 UNIVERSE 23   0 8.52 7.05 0.0705 11.9 0.119 0     
Policy 4 Yr 37   2005 -16.66   4 Yr 1 Yr POLICY 11.6 0.116 -33.34 26.47 -0.84 POLICY 17.95 0.1795 50 11.67 30 62   0    
6.32 14.39 0.1439 14.04   1.23 1/2/1900 5.18 0.0518 71 0.31 -2.7 1 Yr 63 2.16 -3.15 12.72 16.69 0.1669 0.3
3.92 3 Yr FUND 47 2004 FUND 38 -2.47 1/1/1900 1 Yr FUND 68 25.77 -3.3 Fiscal Year Returns Ending September 8.08 0.0808 26.4 1.42 Fiscal Year Returns Ending September 7.47 23 -0.92
2.4 UNIVERSE 19.94 UNIVERSE 12.25 -3.7 1.66 UNIVERSE 5.26 0.0526 18.07 -3.61 Fund 41 21.72 -0.74 Fund 5.42 24.1 -1.22
5 Yr POLICY 16.03 POLICY 57 0.38 5 Yr POLICY 67 13.56   2.78 FR2000   4.55 0.0455 19.25   3.53 R1000V 4.28 16.12 -1.87
3.10 14.17 22.88 -0.17 ############################## 15.78 11.02 -0.23 Diff 74 16.53 -1.79 Diff 1.54   12.74   -0.72
0.54 13.11 15.79 -0.07 -3.59 10.53 7.76   -0.05 12/31/2005 13.19 11.14   -0.16 12/31/2005 Incept 11.06 -0.3
2.56 9.99 12.59 1.49 2.75 6.99 2004   -1.18 Qtr 9.89 2004   4.05 Qtr 8.52   7.98   0.31
6 Yr 4 Yr 11.47 -0.1 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 4.43 2003 FUND 4.69 0.0469 -0.05 1.41 3 Yr FUND 7.14 2003 FUND 22.46 0.2246 -0.07 2.96 42   2004   -0.4 3 Yr FUND #REF!
-0.29 6.32 7.61 0.1 36616.00 1.85 UNIVERSE 87   -0.19 1/1/1900 UNIVERSE 4.47 UNIVERSE 26   0.31 1/1/1900 11.67 0.1167 23.92 0.2392 -0.23  N/A
-1.13 19 2004 1.65 Incept 2 Yr POLICY 7.51 0.0751 -1.54 0.28 POLICY -0.44 POLICY 18.78 0.1878 4.5 1.7 12   18.34   -0.94   #REF!
0.84 3.92 13.63 2.8 -2.6 5.92 0.0592 61 2.23 2006 2 Yr 54 4.01 2006 14.2 0.142 14.42 0.1442 4.53
7 Yr 48 2003 FUND 39 5 Yr -8.41 72 15.25 4 Yr YTD 15 0.15 28.92 2 Yr YTD 9.86 13.02 Incept
3.3 9.64 UNIVERSE 13.87 5 Yr # of Negative Qtrs 5.81 5.78 0.0578 11.67 # of Negative Qtrs 1.41 19 22.49 # of Negative Qtrs 2.96 8.06 8.08 # of Negative Qtrs
1/1/1900 5.61 POLICY 35 # of Positive Qtrs Fiscal Year Returns Ending September 73 8.28 # of Positive Qtrs 1/1/1900 11.23 0.1123 19.1 # of Positive Qtrs 1/1/1900 7.17 2003 # of Positive Qtrs
1.64   3.78 19.71 Batting Average Fund 15.84 6.32 Batting Average 1/0/1900 60 16.07 Batting Average 1/1/1900 4.67 27.67 Batting Average
8 Yr   2.91 14.67 Worst Qtr R1000G 11.11 2.06 Worst Qtr 2005 17.24 8.02 Worst Qtr 2005 7.14 23.98 Worst Qtr
1/5/1900 0.47 13.19 Best Qtr Diff 7.73 2003   Best Qtr 1/21/1900 14.38 2003   Best Qtr 1/11/1900 4.64 21.95 Best Qtr
4.79 5 Yr   10.23 Range 12/31/2005 5.52 2002 FUND 19.31 0.1931 Range 1/17/1900 11.97 2002 FUND 48.25 0.4825 Range 1/16/1900   19.27   Range
1.15 3.1 0.031 5.93 Worst 4 Qtrs Qtr 2.74 UNIVERSE 63   Worst 4 Qtrs 3.95 9.52 UNIVERSE 34.58   Worst 4 Qtrs -4.79 0 15.84 Worst 4 Qtrs
9 Yr 22   2003 Standard Deviation 3.22 3 Yr POLICY 25.91 0.2591 Standard Deviation 2004 5.34 POLICY 30.01 0.3001 Standard Deviation 2004 2003 2002 2001 2000 1999 1998 1997   2002   Standard Deviation 5 Yr FUND
8.61 0.54 0.0054 20.49 Beta 1/2/1900 11.19 0.1119 17 Beta 1/22/1900 Incept 25.9 Beta Returns in Up Markets 0 -6.38 Beta  N/A
7.65 5 Yr FUND 51 2002 FUND 73 Annualized Alpha 0.24 3 Yr FUND 89 30.61 Annualized Alpha 18.78 23.77 19.17 Annualized Alpha Fund -15.42 Annualized Alpha  
0.96 UNIVERSE 7.1 UNIVERSE 24.4 R-Squared 2006 UNIVERSE 13.23 0.1323 23.77 R-Squared 3.68 72 2002 R-Squared R1000V -18.95 R-Squared
10 Yr POLICY 2.51 POLICY 25 Sharpe Ratio YTD POLICY 64 20.39   Sharpe Ratio 2003 2002 2001 2000 1999 1998 1997 26.47 6.59   Sharpe Ratio Ratio -20.72 Sharpe Ratio
9.75 0.56 29.75 Treynor Ratio 3.22 20.98 18.37 Treynor Ratio Returns in Up Markets 38 -1.82 Treynor Ratio 1 Yr   -24.03   Treynor Ratio
1/9/1900 -0.27 24.33 Tracking Error 1/2/1900 16.83   14.19   Tracking Error Fund 31.8 -7.42   Tracking Error 1/5/1900 2001 Tracking Error
0.6 -3.3 23.28 Information Ratio 0.24 14.4 2002   Information Ratio FR2000 27.53 -12.12   Information Ratio 7.1   5.47   Information Ratio
9/30/1992 6 Yr 20.05 Fund Fund 2005 12.28 2001 FUND -17.07 -0.1707 Fund Ratio 5 Yr FUND 25.74 2001 FUND -19.94 -0.1994 Fund 73.5   -5.14   Fund #REF!
Incept -0.29 14.08 8 13.12 10.33 UNIVERSE 15   6 1 Yr N/A 23.32 UNIVERSE 2001   2 12/31/2003 0 -13.19 -0.27 2
11.34 47 2002 12 11.6 4 Yr POLICY -22.51 -0.2251 10 11.6   18.94 POLICY 9.26 0.0926 6 Incept   -23.01   6 #REF!
10.81 -1.13 -7.86 Batting Average 50 1.52 2.81 0.0281 63 43.75 1/10/1900 -2.9 75 1/8/1900 0 -27 0.2225 37.5
0.53 58 2001 FUND 1 -15.47 2004 45 -12.11 -14.71 111.3 -15.03 -3.18 11.7 2000 -0.99
Fiscal Year Returns Ending September 8.78 UNIVERSE -20.49 14.77 4.69 1.15 0.0115 -19.07 11.01 2 Yr -25.09 14.37 73 22.25 9.53
Fund 2.56 POLICY 60 30.24 1/7/1900 67 -21.45 25.72 1/24/1900 -41.08 17.55 Returns in Down Markets 13.38 10.52
S&P 500 -0.67 -10.38 -19.42 -2.82   9.59 -23.71 -21.93 21.9 2000 8.08 Fund 8.39 5.18
Diff -1.8 -17.12 Standard Deviation 14.84 2003   4.94 -29.04 12.25 110.9 62.14 11.18 R1000V 3.08 6.9
12/31/2005 -4.82 -19.82 Beta 0.97 19.31 2.23 2001   0.83 3/31/2003 39.49   Beta 0.75 Ratio -3.5 0.82
Qtr 7 Yr -21.16 Annualized Alpha 2.61 0.0261 25.91 0.59 2000 FUND -30.23 -0.3023 1.75   Incept 2000 FUND 30.15 0.3015 Alpha 6.14 0.0614   1 Yr   1999   -0.89 -0.0089  
1.91 3.3 -25.68 R-Squared 0.93   -6.6 -1.39 UNIVERSE 7   0.92 32.5 UNIVERSE 19.95   0.88 12/31/2003 0 28.08 0.1547 0.71
2.09 34 2001 0.06 2002 5 Yr POLICY -45.64 -0.4564 0.09 38.3 POLICY 9.11 0.0911 1.15 Incept   20.54   0.93
-0.18 1.66 -31.06 0.92 -17.07 -0.84 -0.0084 84 1.28 84.8 1999 17.17 0 15.47 0.0446 7.8
2006 58 2000 FUND 84 4.02 -22.51 5 Yr FUND 36 -29.08 4.25 Returns in Down Markets 50.94 5.3 11.7 3.91
YTD 9.31 UNIVERSE -26.62 0.64 5.44 UNIVERSE -3.59 -0.0359 -35.09 0.39 Fund 31.67 0.71 4.46 -0.81
1.91 4.33 POLICY 52 Policy S&P 500 2001 POLICY 65 -38.5 R1000G FR2000 21.4 FR2000 1998 R1000V
2.09 1.95 -12.56 7 ############################## 6.75 -43.41 6 Ratio 11.57 2 9.83 0
-0.18 1.08 -20.73 13 -45.64 0.42 -51.41 10 1 Yr 1.61 6 6.07 8
2005 -1.01 -26.57 50 15.41 -2.31 2000 56.25 -3.2 1998 25 1.83 62.5
14.04 8 Yr -28.89 -17.28 2000 1999 1998 1997 -4.55 46.3 -18.67 -5.3 -1.61 -5.34 -0.8 0.09
12.25 5.94 -35.02 15.39 Returns in Up Markets -6.77 27.14 14.31 59.6 -9.72 14.09 -5.82 10.38
1/1/1900 22 2000 32.67 Fund 6 Yr 20.88 32.98 2 Yr -16.12 19.43 10.29
2004 4.79 16.14 -24.76 R1000G 8.74 14.34 -27.89 -4.5 -20.15 4.55 7.05
13.63 44 30 14.82 Ratio   -0.82 8.45 14.16 -8 -27.66 14.07 7.07
1/13/1900 9.04 13.28 Standard Deviation 1 3 Yr -3.76 1999 1 2/25/1900   1 1
################################### 5.67 46 0 20.3 -6.13 38.21 0 3/31/2003 0 0
2003 4.62 27.56 1 23.7 -8.47 31.55 1 Incept   1 1
20.49 3.75 17 -0.11 85.4 7 Yr 27.96 -0.04 -4.5 0.65 1.35
24.4 1.66 13.02 -1.67 4 Yr 10.2 26.33 -0.6 -8 9.11 9.55 QU. FUND #REF!
-3.91 9 Yr 9.15 0 20.9 3.88 20.01 0 56.3 0 0 UNIVERSE
2002 8.61 1.34 Diff 24.5 1.09 1998 Diff Diff Diff POLICY #REF!
-7.86 20 1999 1 85.2 -0.8 16.52 0 0 2
-20.49 7.65 30.59 -1 5 Yr -3.31 9.1 0 0 -2
12.63 36 19 0 22.6 8 Yr 7.45 -12.5 50 -25
2001 11 26.68 1.81 29.3 9.74 2.95 3.96 2.16 -1.08
-31.06 8.24 41 -0.62 77.3 6.27 -4.96 -3.3 0.28 -0.85
-26.62 7.3 36.18   -2.43 3/31/2000 4.15 -7.26 QU. FUND   -1.88 0.23
-4.44 6.14 28.77 5.34 Incept 2.71 5.96 UNIVERSE 3.53 -1.87
2000 4.11 24.51   0.02 22.6 0.42 -1.91 POLICY   -2.89 -0.17
16.14 10 Yr 16.71 -0.03 29.3 2.04 -0.17 -0.25 -0.18
13.28 9.75 9.03 2.61 77.3 -0.03 1.75 6.14 -0.89
2.86 21 1998 -0.07 Returns in Down Markets 12.56 -0.08 -0.12 -0.29
1999 9.15 6.61 0.17 Fund 7.89 0.13 0.5 -0.42
30.59 35 31 2.59 R1000G 6.15 1.88 8.06 -1.75
26.68 11.93 10.1 4.02 Ratio 4.64 4.25 5.3 3.91
1/3/1900 9.62 13 10 Yr 3 Yr 2.32 5 Yr Incept Incept
1998 8.56 15.53 # of Negative Qtrs -9.2 # of Negative Qtrs # of Negative Qtrs
6.61 7.61 7.46 # of Positive Qtrs -10.1 # of Positive Qtrs # of Positive Qtrs
10.1 5.66 3.17   Batting Average 91.6 Batting Average Batting Average 2002 FUND #REF!
-3.49 7.64 -0.89 Worst Qtr 4 Yr Worst Qtr Worst Qtr UNIVERSE
1997 5.25 -8.95   Best Qtr -21.5 Best Qtr Best Qtr POLICY #REF!
35.14 6.17 27.93 Range -28.4 Range Range
40.62 8.4 Worst 4 Qtrs 3/15/1900 Worst 4 Qtrs Worst 4 Qtrs
-5.48 6.23 Standard Deviation 5 Yr Standard Deviation Standard Deviation
Returns in Up Markets Beta -27.9 Beta Beta
Fund Annualized Alpha -37.9 Annualized Alpha Annualized Alpha
S&P 500   R-Squared 73.6 R-Squared 2002 FUND   R-Squared
Ratio Sharpe Ratio 3/31/2000 Sharpe Ratio UNIVERSE Sharpe Ratio
3 Yr   Treynor Ratio Incept Treynor Ratio POLICY   Treynor Ratio 2001 FUND #REF!
22.1 Tracking Error -24.2 Tracking Error Tracking Error UNIVERSE
23.6   Information Ratio -37.1 Information Ratio Information Ratio POLICY #REF!
93.7 Fund 65.3 Fund Fund
5 Yr 13 8 2
25.6 27 12 9  
24.7 50 45 54.55 Batting Average
103.4 -15.47 -14.71 -3.18
10 Yr   22.14 11.01 2001 FUND   14.47
30.1 37.61 25.72 UNIVERSE 17.65
30.2   -31.06 -21.93 POLICY   8.08 2000 FUND #REF!
99.6 15.45 13.56 10.94  N/A Standard Deviation
9/30/1992   0.96 0.68 0.65   #REF! Beta
Incept 0.95   1.37 0.0137 6 0.06 Annualized Alpha #REF!
26.8 0.92 0.87 0.83 R-Squared
26.7 0.39 -0.22 2.01
100.5 6.28 -4.49 33.77
Returns in Down Markets 4.28 7.63 6.93
Fund   0.14 0.36 2000 FUND   -0.39
S&P 500 S&P 500 R1000G UNIVERSE FR2000 Policy
Ratio   12 8 POLICY   2 1999 FUND #REF!
3 Yr 28 12 9  N/A
-2.8   50 55 45.45   #REF!
-7 -17.28 -20.9 -5.34
40.3 21.13 15.14 23.42
5 Yr 38.41 36.04 28.76
-28.5 -26.62 -27.89 4.55
-32.6 15.46 18.53 15.21 Standard Deviation
87.4   1 1 1999 FUND   1
10 Yr 0 0 N/A 0
-26.2   1 1     1 1998 FUND #REF!
-27.7 0.35 -0.31 1.62  N/A
94.5   5.43 -5.8 24.65   #REF!
9/30/1992 0 0 0
Incept Diff Diff Diff
-25.4 1 0 0
-26.6 -1 0 0
95.5 0 -10 9.1
1.81 6.19 1998 FUND 2.16
1.01 -4.13 N/A -8.95
  -0.8 -10.32     -11.11 #REF!
-4.44 5.96   3.53
  -0.01 -4.97   -4.27 #REF!
-0.04 -0.32 -0.35
0.95 1.37 6
-0.08 -0.13 -0.17
0.04 0.09 0.39
0.85 1.31 9.12
4.28 7.63 6.93
Incept Incept Incept Incept
  # of Negative Qtrs # of Negative Qtrs    
# of Positive Qtrs # of Positive Qtrs
  Batting Average Batting Average    
Worst Qtr Worst Qtr
Best Qtr Best Qtr
Range Range
Worst 4 Qtrs Worst 4 Qtrs
Standard Deviation Standard Deviation
Beta Beta
Annualized Alpha Annualized Alpha
R-Squared R-Squared
Sharpe Ratio Sharpe Ratio
Treynor Ratio Treynor Ratio
Tracking Error Tracking Error
Information Ratio Information Ratio
Fund Fund Fund Fund
14 10
  39 13
Batting Average 49.06 Batting Average 52.17
-15.47 -14.71
22.14 11.01
37.61 25.72
-31.06 -30.23
Standard Deviation 14.09 Standard Deviation 14.15
Beta 0.96 Beta 0.67
Annualized Alpha 0.94 0.0094 Annualized Alpha 2.94 0.0294 0 0
R-Squared 0.91 R-Squared 0.87
0.53 -0.38
7.8 -7.94
4.24 8.36
0.13 0.69
Policy S&P 500 Policy R1000G
13 11
40 12
50.94 47.83
-17.28 -21.35
21.13 15.14
38.41 36.49
-26.62 -45.64
Standard Deviation 13.99 Standard Deviation 19.74
1 1
0 0
1 1
0.5 -0.56
6.96 -11.13
0 0
Diff Diff
1 -1
-1 1
-1.88 4.34
1.81 6.64
1.01 -4.13
-0.8 -10.77
-4.44 15.41
0.1 -5.59
-0.04 -0.33
0.94 2.94
-0.09 -0.13
0.03 0.18
0.84 3.19
4.24 8.36
-0.09
0.02
0.64
4.32