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 (Inverness + DHJ + Eagle + Israeli Bonds) Total Fund Total Gross Returns (Inverness + DHJ + Eagle + Israeli Bonds) Total Gross Returns (Inverness + DHJ + Eagle + Israeli Bonds) Total Fund Total Gross Returns (Inverness + DHJ + Eagle + Israeli Bonds) 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
1 33%BLCC,10%BLCGC,7%BLCVC,4%BSC,23%BFI,23%IFI 33%BLCC,10%BLCGC,7%BLCVC,4%BSC,23%BFI,23%IFI 20 33 61.1%BLCC, 18.5%BLCGC, 13%BLCVC, 7.4%BSC 61.1%BLCC, 18.5%BLCGC, 13%BLCVC, 7.4%BSC 41 23 50% Broad FI, 50% Intermediate FI 50% Broad FI, 50% Intermediate FI 31
Inception date is September 30, 1992 3 4 3 Yr Inception date is September 30, 1992 35 36 3 Yr Inception date is September 30, 1992 25 26 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, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is September 30, 1992 to March 31, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is September 30, 1992 to March 31, 2005 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through March 31, 2005 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2005 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 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 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 -40.00% Range Net Flows 75-95th %tile Fund Index -5.00% Range
Investment G/L -5.00% -15.00% Worst 4 Qtrs Investment G/L -10.00% -30.00% Worst 4 Qtrs Investment G/L -1.00% 0.00% Worst 4 Qtrs
Ending Value 0.00% -10.00% Standard Deviation Ending Value -5.00% -20.00% Standard Deviation Ending Value 0.00% 5.00% Standard Deviation
3/31/2005 5.00% -5.00% Beta 3/31/2005 0.00% -10.00% Beta 3/31/2005 1.00% 10.00% Beta
Qtr 10.00% 0.00% Annualized Alpha Qtr 5.00% 0.00% Annualized Alpha Qtr 2.00% 15.00% Annualized Alpha
167,957 15.00% 5.00% R-Squared 103,665 10.00% 10.00% R-Squared 58,106 3.00% 20.00% R-Squared
-624 20.00% 10.00% Sharpe Ratio -3,091 15.00% 20.00% Sharpe Ratio 278 4.00% 25.00% Sharpe Ratio
-1,300 25.00% 15.00% Treynor Ratio -900 20.00% 30.00% Treynor Ratio -440 5.00% Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 Treynor Ratio
166,033 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 20.00% Tracking Error 99,674 25.00% 40.00% Tracking Error 57,944 6.00% Fiscal Year Returns Ending September Tracking Error
2005 Trailing Returns through March 31, 2005 25.00% Information Ratio 2005 30.00% 50.00% Information Ratio 2005 7.00% Fund Information Ratio
YTD Fund 30.00% Fund YTD 35.00% 60.00% Fund YTD 8.00% Return Fund
159,123 Return Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 4 92,448 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 5 60,176 9.00% %-tile 2
-798 %-tile   Fiscal Year Returns Ending September 8 -437 Trailing Returns through March 31, 2005 Fiscal Year Returns Ending September   7 -2,203 10.00% Index 10
7,708 Index Fund 66.67 7,664 Fund Fund 50 -29 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr Return 66.67
166,033 Return   Return -5.6 99,674 Return Return   -14.86 57,944 Trailing Returns through March 31, 2005 %-tile -2.18
9/30/1992 %-tile %-tile 7.4 9/30/1992 %-tile %-tile 12.58 9/30/1992 Fund Universe 4.93
Incept Universe Index 13 Incept Index Index 27.44 Incept Return 5th %-tile 7.11
59,084 5th %-tile Return -6.19 18,638 Return Return -20.21 36,929 %-tile 25th %-tile 0.65
-390 25th %-tile %-tile 6.32 14,046 %-tile %-tile 13.07 -16,233 Index 50th %-tile 3.99
107,339 50th %-tile Universe 0.8 66,990 Universe Universe 0.86 37,248 Return 75th %-tile 0.88
166,033  166,033,000 75th %-tile 5th %-tile 1.26 99,674     99,674,000 5th %-tile 5th %-tile 0.9 57,944    57,944,000  %-tile  95th %-tile 1.11
Investment Policy 95th %-tile 25th %-tile 0.94 Investment Policy 25th %-tile 25th %-tile 0.97 Investment Policy Universe Qtr 0.99
Index 1 Yr   50th %-tile 0.63 Index 50th %-tile 50th %-tile 0.21 Index 5th %-tile QU. FUND -0.76 -0.0076 1.26
S&P 500 1 Yr FUND 4.94 0.0494 75th %-tile 4.94 S&P 500 75th %-tile 75th %-tile 3.14 Lehman Gov/Credit-Intermediate 25th %-tile UNIVERSE 80 5.73
Lehman Gov/Credit-Intermediate UNIVERSE 19 0.19 95th %-tile 2.21 Russell 1000 Value 95th %-tile   95th %-tile   3.05 Lehman Gov/Credit Bond 50th %-tile   POLICY -0.78 -0.0078 0.72
Lehman Gov/Credit Bond POLICY 4.08 0.0408 Qtr ####### 0.13 Russell 2000 1 Yr     Qtr 0.17 Total 75th %-tile 81   0.61
Other 38 Qtr -0.78 -0.0078 Index Total 1 Yr FUND 7.75 0.0775 Qtr -0.88 -0.0088 Index Weight 95th %-tile   -0.04 Index
Weight 5.95 UNIVERSE 11 0.11 5 Weight UNIVERSE 17   UNIVERSE 8 5 50 1 Yr -0.34   3
43 4.52 POLICY -1.47 -0.0147 7 79.6 POLICY 7.45 0.0745 POLICY -2.1 -0.021 7 50 1 Yr FUND 0.65 0.0065 -0.51 9
23 3.59 49 33.33 13 22 42 50 100 UNIVERSE 58 -0.69 33.33
23 2.68 -0.49 -7.33 7.4 9.46 -0.51 -17.28 Trailing Returns through March 31, 2005 POLICY 0.04 0.0004 -1.12 -2.84
11 1.27 -1.14 9.96 100 7.18 -1.73   15.98 Fund 85 YTD 5.11
Trailing Returns through March 31, 2005 2 Yr   -1.5 17.29 Trailing Returns through March 31, 2005 5.94 -2.32 33.26 Index 3.8 -0.06   7.95
Fund 11.61 -1.81 -8.76 Fund 4.4 -2.88   -24.76 Diff 1.45 85 -0.38
Index 69   -2.69 7.7 Index 1.71 -4.06 14.97 1 Yr 0.81 -0.16   4.51
Diff 12.7 YTD 1 Diff 2 Yr YTD 1 0.65 0.23 91 1
1 Yr 44 4.86 0 1 Yr 18.88 8.16 0 0.04 -0.41 1.81 0
4.94 15.47 19 1 7.75 71 25 1 0.61 2 Yr 0.72 1
4.08 13.73 3.94 0.48 7.45 21.48 7.44 0.14 2 Yr 3.6 0.37 1.02
0.86 12.45 58 3.66 0.3 30 41 2.17 3.6 27 0.07 4.6
2 Yr 11.31 5.79 0 2 Yr 25.25 9.86 0 2.85 2.85 -0.31 0
11.61 9.45 4.65 Diff 18.88 21.97 8.15 Diff 1/0/1900 46 2004 Diff
12.7 3 Yr   4.05 -1 21.48 20.21   7.08   0 3 Yr 8.31 2004 3.49 0.0349 -1
-1.09 3 YR FUND 5.33 0.0533 3.54 1 -2.6 18.13 6.25   0 6.42 3.66 UNIVERSE 33 1
3 Yr UNIVERSE 34   2.7 33.34 3 Yr 14.38 4.68     0 5.98 2.68 0.0268 POLICY 3 0.03 33.34
5.33 POLICY 5.04 0.0504 2004   1.73 4.08 3 Yr   2004 2.42 0.44 2.04 49   0.66
5.04 43 2004 8.55 0.0855 -2.56 3.55 3 YR FUND 4.08 0.0408 2004 12.54 0.1254 -3.4 4 Yr 1.33 0.0133 7.43 -0.18
0.29 6.96 UNIVERSE 48   -4.29 0.53 UNIVERSE 23   UNIVERSE 58 -5.82 6.22 3 Yr 3.83   -0.84
4 Yr 5.61 POLICY 9.37 0.0937 2.57 4 Yr POLICY 3.55 0.0355 POLICY 14.84 0.1484 4.55 5.71 3 YR FUND 6.42 0.0642 2.96 1.03
5.53 4.83 30 -1.38 4.81 31 25 -1.9 0.51 UNIVERSE 18 2.27 -0.52
4.48 4.01 11.45 -0.2 2.71 6.23 17.78 -0.14 5 Yr POLICY 5.98 0.0598 1.54 -0.12
1.05 2.57 9.65 1.26 2.1 3.9 14.77   0.9 7.43 24 2003 1.11
5 Yr 4 Yr   8.49 -0.06 5 Yr 2.67 12.96 -0.03 7 8 2003 7.39 0.0739 -0.01
1.91 5.53 7.48 0.15 -2.41 1.5 10.89   0.07 0.43 5.93 UNIVERSE 21 0.24
2.04 10   5.4 1.28 -2.71 -0.88 7.53   0.97 6 Yr 5.21 POLICY 6.26 0.0626 1.13
-0.13 4.48 2003   2.21 0.3 4 Yr 2003 3.05 6.4 4.46 27   0.72
6 Yr 29 2003 13.14 0.1314 5 Yr 5 Yr 6 Yr 4.81 2003 20.44 0.2044 5 Yr 5 Yr 6.13 3.55 15.41 5 Yr 5 Yr
4.08 6.28 UNIVERSE 84   # of Negative Qtrs 1.83 11 UNIVERSE 82 # of Negative Qtrs 0.27 4 Yr 6.36   # of Negative Qtrs
3.33 4.57 POLICY 16.76 0.1676 # of Positive Qtrs 0.46 2.71 POLICY 25.6 0.256 # of Positive Qtrs 7 Yr 6.22 4.78 # of Positive Qtrs
0.75 3.87 27 Batting Average 1.37 30 22 Batting Average 6.45 13 3.82 Batting Average
7 Yr 3.22 20.94 Worst Qtr 7 Yr 6.69 29.28 Worst Qtr 6.19 5.71 2.69 Worst Qtr
4.94 1.64 16.86 Best Qtr 1/3/1900 3 25.33 Best Qtr 1/0/1900 21 2002 Best Qtr
4.67 5 Yr   15.32 Range 3 2.05 24.24 Range 8 Yr 6.88 2002 8.77 0.0877 Range
1/0/1900 5 YR FUND 1.91 0.0191 13.86 Worst 4 Qtrs 1/0/1900 1.06 22.01 Worst 4 Qtrs 7.06 5.56 UNIVERSE 6 Worst 4 Qtrs
8 Yr UNIVERSE 46   11.56 Standard Deviation 8 Yr -1.16 17.02   Standard Deviation 6.78 5 0.05 POLICY 8.65 0.0865 Standard Deviation
1/7/1900 POLICY 2.04 0.0204 2002   Beta 7.89 5 Yr #VALUE! 2002 Beta 0.28 4.46 8   Beta
6.93 43 2002 -1.69 -0.0169 Annualized Alpha 7.76 5 YR FUND -2.41 -0.0241 2002 -9.95 -0.0995 Annualized Alpha 9 Yr 3.75 0.0375 8.8 Annualized Alpha
0.51 5.71 UNIVERSE 5   R-Squared 0.13 UNIVERSE 38 0.38 UNIVERSE 6 R-Squared 6.77 5 Yr 7.65   R-Squared
9 Yr 3.27 POLICY -7.61 -0.0761 Sharpe Ratio 9 Yr POLICY -2.71 -0.0271 POLICY -20.49 -0.2049 Sharpe Ratio 6.54 5 YR FUND 7.43 0.0743 6.86 Sharpe Ratio
7.88 1.72 48 Treynor Ratio 9.07 41 57 Treynor Ratio 0.23 UNIVERSE 4 5.67 Treynor Ratio
7.35 0.78 -1.95 Tracking Error 1/9/1900 4.03 -8.33 Tracking Error 10 Yr POLICY 7 0.07 1.79 Tracking Error
0.53 -0.68 -6.48 Information Ratio 1/0/1900 -0.32 -17.88   Information Ratio 7.18 12 2001 Information Ratio
10 Yr 6 Yr   -7.67 Fund Fund 10 Yr -3.36 -20.15 Fund Fund 6.9 7.28 2001 13.27 0.1327 Fund Fund
8.76 4.08 -8.77 8 10.5 -4.53 -21.01   10 0.28 6.62 UNIVERSE 4 2
1/8/1900 29   -11.11 12 1/11/1900 -7.69 -24.73   10 9/30/1992 6.17 POLICY 13.04 0.1304 18
0.36 3.33 2001   Batting Average 60 -0.74 6 Yr 2001 Batting Average 55 Incept 5.61 7   Batting Average 60
9/30/1992 45 2001 -13.09 -0.1309 -5.87 9/30/1992 1.83 2001 -31.03 -0.3103 -15 6.58 4.86 13.13 -2.18
Incept 6.69 UNIVERSE 84   7.4 Incept 29 UNIVERSE 79 13.48 1/6/1900 6 Yr 12.35   4.93
8.81 4.28 POLICY -9.93 -0.0993 13.27 11.2 0.46 POLICY -26.62 -0.2662 28.48 0.15 6.4 11.69 7.11
8.13 3.13 63 -13.09 11.16 47 38 -31.03   Fiscal Year Returns Ending September 6 10.55 0.65
0.68 2.44 0.04 Standard Deviation 7.77 0.04 6.78 -12.04 Standard Deviation 15.48 Fund 6.13 0.57 Standard Deviation 3.77
Fiscal Year Returns Ending September 1.09 -6.62 Beta 0.93 Fiscal Year Returns Ending September 2.2 -22.54 Beta 0.96 Index 11 2000 Beta 0.9
Fund 7 Yr -9.13 Annualized Alpha 0.03 0.0003 Fund 0.26 -27.39 Annualized Alpha 0.23 0.0023 Diff 6.4 2000 6.22 0.0622 Annualized Alpha 1.12 0.0112
Index 4.94 -11.8 R-Squared 0.92 Index -0.76 -29.93 R-Squared 0.94 3/31/2005 5.74 UNIVERSE 33 R-Squared 0.98
Diff 26 -16.2 -0.09 Diff -3.17 -37.2   -0.33 Qtr 5.36 POLICY 6.47 0.0647 1.27
3/31/2005 4.67 2000   -0.78 3/31/2005 7 Yr 2000 -5.26 -0.76 4.93 17   5.32
Qtr 33 2000 12.75 0.1275 2.29 Qtr 3.48 2000 17.11 0.1711 3.73 -0.78 4.4 6.94 0.72
-0.78 6.53 UNIVERSE 24   -0.06 -0.88 22 UNIVERSE 34 0.08 0.02 7 Yr 6.33   0.6
-1.47 4.96 POLICY 9.86 0.0986 Policy Index -2.1 3 POLICY 13.28 0.1328 Policy Index 2005 6.45 5.96 Policy Index
0.69 4.23 51 9 1.22 29 56 10 YTD 2 5.47 4
2005 3.67 21.12 11 2005 6.58 35.63 10 ################################## 6.19 2.92 16
YTD 2.54 12.55 40 YTD 3.17 20.34 45 -0.16 5 1999 40
4.86 8 Yr 9.88 -7.33 8.16 2.17 13.77 -17.28 0.1 6.17 -0.41 -2.84
3.94 7.44 8.58 9.96 7.44 1.21 11.36 15.98 2004 5.69 72 5.11
0.92 15 4.65 17.29 0.72 -1.45 1.97 33.26 3.49 5.36 -0.5 7.95
2004 6.93 1999 -9.93 2004 8 Yr 1999 -26.62 3 4.99 75 -0.38
8.55 28 14.56 Standard Deviation 8.05 12.54 7.89 30.59 Standard Deviation 15.61 0.49 4.39 3.72 Standard Deviation 4.17
9.37 8.35 38 1 14.84 20 20 1 2003 8 Yr 1.67 1
-0.82 7 12.85 0 -2.3 7.76 27.81 0 7.39 7.06 0.54 0
2003 6.48 65 1 2003 22 36 1 6.26 3 -0.58 1
13.14 5.78 20.69 -0.07 20.44 10.02 39.72 -0.34 1.13 6.78 -2.06 1.05
16.76 4.6 15.7 -0.6 25.6 7.49 29.61 -5.35 2002 9 1998 4.36
-3.62 9 Yr 13.75 0 -5.16 6.72 27.09 0 8.77 6.88 11.65 0
2002 7.88 10.94 Diff 2002 5.35 20.66 Diff 8.65 6.36 7 Diff
-1.69 12 6.34 -1 -9.95 2.88 12 0 0.12 5.99 11.62 -2
-7.61 7.35 1998 1 -20.49 9 Yr 1998 0 2001 5.56 8 2
5.92 23 9.13 20 10.54 9.07 6.61 10 13.27 5.05 12.17 20
2001 8.68 12 1.46 2001 18 39 2.28 13.04 9 Yr 9.97 0.66
-13.09 7.23 9.72 -2.56 -31.03 9.06 10.1 -2.5 0.23 6.77 8.86 -0.18
-9.93 6.78 7 -4.02 -26.62 19 10 -4.78 2000 5 7.67 -0.84
-3.16 6.06 10.24 -3.16 -4.41 11.09 11.38 -4.41 6.22 6.54 2.96 1.03
2000 4.84 7.94 -0.28 2000 8.56 8.54 -0.13 6.47 10 1997 -0.4
12.75 10 Yr 5.28 -0.07 17.11 7.63 4.44 -0.04 -0.25 6.65 9.19 -0.1
9.86 8.76 2.68 0.03 13.28 6.49 -1.33 0.23 1999 6.17 50 1.12
2.89 13 -1.93 -0.08 3.83 4.08 -11.71 -0.06 -0.41 5.83 8.89 -0.02
1999 8.4 1997 -0.02 1999 10 Yr 1997 0.01 -0.5 5.46 59 0.22
14.56 21 21.02 -0.18 30.59 10.5 35.14 0.09 0.09 4.99 12.78 0.96
12.85 9.48 36 2.29 27.81 33 68 3.73 1998 10 Yr 10.29 0.72
1.71 8.3 20.52 10 Yr 2.78 11.24 40.62 10 Yr 11.65 7.18 9.17 10 Yr
1998 7.78 48 # of Negative Qtrs 1998 17 19 # of Negative Qtrs 11.62 5 8.3 # of Negative Qtrs
9.13 7.16 24.25 # of Positive Qtrs 6.61 13.17 45.59 # of Positive Qtrs 0.03 6.9 7.27 # of Positive Qtrs
9.72 5.89 21.44 Batting Average 1/10/1900 10.74 40.08   Batting Average 6/19/1905 12 16.26   Batting Average
-0.59 7.17 20.41 Worst Qtr -3.49 9.84 37.36 Worst Qtr 9.19 7.08 12.82 Worst Qtr
6/19/1905 5.92 18.81 Best Qtr 1997 8.43 34.17   Best Qtr 8.89 6.59 8.28   Best Qtr
21.02 4.24 15.55 Range 35.14 6.08 27.06 Range 0.3 6.23 27 Range
20.52 Worst 4 Qtrs 2/9/1900 7.63 21.63   Worst 4 Qtrs 6/18/1905 5.85 9.46   Worst 4 Qtrs
0.5 Standard Deviation -5.48 3.74 19 Standard Deviation 4.88 5.38 3.7 Standard Deviation
6/18/1905 Beta 1996 17.44   Beta 4.82 2.37   Beta
12.17 Annualized Alpha 20.02 15.88 Annualized Alpha 0.06 1.11 Annualized Alpha
1/11/1900 R-Squared 21.32 14.26 R-Squared Returns in Up Markets 0.39 R-Squared
0.87 Sharpe Ratio -1.3 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 9.8 29 Fund
3 Yr 10 3 Yr 17.59 12 10 16.11 6
15.6 30 27.7 14.43 28 98.8 5.92 34
19.6 60 33.6 13.01 47.5 5 Yr 3.67 65
79.8 -5.87 82.4 11.77 -15 10 1.98 -2.18
5 Yr 11.41 5 Yr 9.97 22.14 10 0.87 5.99
14.9 17.28 30.1 2002 37.14 100.1 2002 8.17
16.2 -13.09 30.6 2002 FUND -21.65   -31.03 10 Yr 2002 FUND 10.49   -0.66
92.2 8.06 4/7/1900 UNIVERSE 88 15.31 1/10/1900 UNIVERSE 11 3.72
10 Yr 0.98 10 Yr POLICY -20.67   0.95 10.1 POLICY 11.02   0.96
1/17/1900 0.48 31.7 84   -0.11 100.4 8 0.54
1/17/1900 0.92 2/2/1900 -9.82 0.93 9/30/1992 11.72   0.97
100.6 0.6 4/3/1900 -13.94 0.43 Incept 9.31 0.88
9/30/1992 4.95 9/30/1992 -16.68 6.94 10.1 7.69   3.41
Incept 2.31 Incept -19.33 4.1 10.2 4.45 0.64
16.6 0.16 28.2 -23.14 -0.18 99.4 -2.07 0.44
1/15/1900 Index 28.5 2001 Index Returns in Down Markets 2001 Index
104.1 11 98.8 2001 FUND -5.89   12 Fund 2001 FUND 8.73   9
Returns in Down Markets 29 Returns in Down Markets UNIVERSE 74 28 Index UNIVERSE 14 31
Fund 40 Fund POLICY -11.08   52.5 Ratio POLICY 8.51   35
Index -7.33 Index 96 -17.28 3 Yr 18 -2.84
Ratio 10.4 Ratio 5.46 21.3 -2.4 9.68   5.74
3 Yr 17.73 3 Yr -0.02 38.58 -3.8 8.13 8.58
-7.6 -9.93 -21.8 -3.26 -26.62 62.9 7.33   -0.89
-12.4 7.85 -27.5 -6.04 15.54 5 Yr 6.21 3.83
61 1 79.3 -10.93 1 -2.2 0.36 1
5 Yr 0 5 Yr 2000 0 -4.2 2000 0
-12 1 -26.8 2000 FUND -5.56   1 53.6 2000 FUND 12.61   1
-12.9 0.57 -27.5 UNIVERSE 98 0.47 10 Yr UNIVERSE 8 0.78
92.9 4.49 97.4 POLICY -6.49   7.33 -2.5 POLICY 11.84   2.99
10 Yr 0 10 Yr 99 0 -3.5 15 0
-11.6 Diff -26.6 16.45 Diff 70.7 13.05   Diff
-12.4 -1 ################################ 9.38 0 9/30/1992 11.01 -3
93.4 1 96.5 5.82 0 Incept 9.44   3
9/30/1992 20 9/30/1992 1.47 -5 -2.8 7.02 30
Incept 1.46 Incept -4.06 2.28 -3.5 -8.83 0.66
-10.6 1.01 -25.8 1999 0.84 80.2 1999 0.25
-11.3 -0.45 -26.4 1999 FUND 19.52   -1.44 1999 FUND -2.72   -0.41
93.5 -3.16 97.5 UNIVERSE 46 -4.41 UNIVERSE 88 0.23
0.21 POLICY 20.41   -0.23 POLICY -2.15   -0.11
-0.02 41 -0.05 83 -0.04
0.48 35.59 -0.11 7   0.54
-0.08 24.4 -0.07 2.72 -0.03
0.03 18.88 -0.04 0.33   0.1
0.46 13.96 -0.39 -1.4 0.42
2.31 8.02 4.1 -3.93 0.64
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 10
39 23.64 37 7.12 40
62 16.88 50 5.89 64
-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
7.57 52 14.26 74 3.79
0.98 28.78 0.95 13.49 0.96
0.78 24.05 0.56 5.37 0.37
0.91 21.49 0.92 3.97 0.97
0.65 18.8 0.51 2.83 0.71
5.03 14.89 7.71 1.19 2.81
2.33 1995 4.05 1995 0.67
0.29 37.47 0.01 23.05 0.22
Index 31.79 Index 18.43 Index
13 28.75 13 16.26 13
37 25.73 37 12.82 37
38 21.74 50 8.28 36
-7.33 -17.28 -2.84
10.4 21.3 5.74
17.73 38.58 8.58
-9.93 -26.62 -2.9
7.32 14.35 3.88
1 1 1
0 0 0
1 1 1
0.58 0.51 0.66
4.25 7.28 2.55
0 0 0
Diff Diff Diff
-2 0 -3
2 0 3
24 0 28
1.46 2.28 0.06
1.01 0.84 0.25
-0.45 -1.44 0.19
-3.16 -4.41 -0.75
0.25 -0.09 -0.09
-0.02 -0.05 -0.04
0.78 0.56 0.37
-0.09 -0.08 -0.03
0.07 0 0.05
0.78 0.43 0.26
2.33 4.05 0.67