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
43 Broad Large Cap Core Broad Large Cap Core 51 53 Broad Large Cap Growth Core Broad Large Cap Growth Core 59 61 Broad Small Cap Broad Small Cap 67 69 Broad Large Cap Value Core Broad Large Cap Value Core 75
Inception date is September 30, 1992 45 46 3 Yr Inception date is March 31, 2000 55 56 2 Yr Inception date is March 31, 2003 63 64 Incept 1 Yr Inception date is December 31, 2003 71 72 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 March 31, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2000 to March 31, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2003 to March 31, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is December 31, 2003 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 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 S&P 500 Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund S&P500 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 S&P500 -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 -10.00% -30.00% Worst 4 Qtrs Investment G/L -15.00% -50.00% Worst 4 Qtrs Investment G/L -10.00% -25.00% Worst 4 Qtrs Investment G/L -5.00% -20.00% Worst 4 Qtrs
Ending Value -5.00% -20.00% Standard Deviation Ending Value -10.00% -25.00% Standard Deviation Ending Value 0.00% 0.00% Standard Deviation Ending Value 0.00% -10.00% Standard Deviation
3/31/2005 0.00% -10.00% Beta 3/31/2005 -5.00% 0.00% Beta 3/31/2005 10.00% 25.00% Beta 3/31/2005 5.00% 0.00% Beta
Qtr 5.00% 0.00% Annualized Alpha Qtr 0.00% 25.00% Annualized Alpha Qtr 20.00% 50.00% Annualized Alpha Qtr 10.00% 10.00% Annualized Alpha
64,430 10.00% 10.00% R-Squared 20,960 5.00% 50.00% R-Squared 7,910 30.00% 75.00% R-Squared 11,421 15.00% 20.00% R-Squared
-2,994 15.00% 20.00% Sharpe Ratio -21 10.00% 75.00% Sharpe Ratio -16 40.00% 100.00% Sharpe Ratio -16 20.00% 30.00% Sharpe Ratio
-92 20.00% 30.00% Treynor Ratio -614 15.00% Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 Treynor Ratio -251 50.00% Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 Treynor Ratio 64 25.00% 40.00% Treynor Ratio
61,344 25.00% 40.00% Tracking Error 20,325 20.00% Fiscal Year Returns Ending September Tracking Error 7,643 Qtr YTD 1 Yr Incept Fiscal Year Returns Ending September Tracking Error 11,468 Qtr YTD 1 Yr Incept 50.00% Tracking Error
2005 30.00% 50.00% Information Ratio 2005 25.00% Fund Information Ratio 2005 Trailing Returns through March 31, 2005 Fund Information Ratio 2005 Trailing Returns through March 31, 2005 60.00% Information Ratio
YTD 35.00% 60.00% Fund YTD 30.00% Return Fund YTD Fund Return Fund Fund YTD Fund Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 Fund
57,066 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 18,899 2 Qtrs 3 Qtrs 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr %-tile 3 6,929 Return %-tile 2 10,442 Return Fiscal Year Returns Ending September 2
-128 Trailing Returns through March 31, 2005 Fiscal Year Returns Ending September 7 -40 Trailing Returns through March 31, 2005 S&P500 5 -31 %-tile FR2000 2 -31 %-tile Fund 2
4,406 Fund Fund 50 1,466 Fund Return 25 744 FR2000 Return Batting Average 100 1,058 R1000V Return 25
61,344 Return Return -14.76 20,325 Return %-tile -4.92 7,643 Return %-tile -3.18 11,468 Return %-tile -0.99
9/30/1992 %-tile %-tile 12.92 3/31/2000 %-tile Universe 11.01 3/31/2003 %-tile Universe 14.37 12/31/2003 %-tile R1000V 9.53
Incept S&P 500 S&P 500 27.68 Incept S&P500 5th %-tile 15.93 Incept Universe 5th %-tile 17.55 Incept Universe Return 10.52
  18,638 Return Return -19.42 10,795 Return 25th %-tile 4.16 4,822 5th %-tile 25th %-tile 14.08 7,800 5th %-tile %-tile 8.32  
-22,370 %-tile %-tile 13.1 12,574 %-tile 50th %-tile 9.22 -105 25th %-tile 50th %-tile Standard Deviation 11.34 2,457 25th %-tile Universe 7.31
65,076 Universe Universe 0.86 -3,043 Universe 75th %-tile 0.92 2,926 50th %-tile 75th %-tile Beta 0.7 1,211 50th %-tile 5th %-tile BETA 0.83
61,344  61,344,000  5th %-tile  5th %-tile 2.05 20,325  20,325,000 5th %-tile 95th %-tile -4.05 7,643    7,643,000 75th %-tile 95th %-tile Annualized Alpha 9.83 0.0983 11,468           11,468,000 75th %-tile 25th %-tile ALPHA -2.22 -0.0222 #REF!
Investment Policy 25th %-tile 25th %-tile 0.95 Investment Policy 25th %-tile Qtr 0.89 Investment Policy 95th %-tile Qtr R-Squared 0.86 Investment Policy 95th %-tile 50th %-tile 0.78
Index 50th %-tile 50th %-tile 0.24 Index 50th %-tile QU. FUND -2.93 -0.0293 1.33 Index Qtr QU. FUND -3.18 -0.0318 1.1 Index Qtr #VALUE! 75th %-tile 0.92
S&P 500 75th %-tile 75th %-tile 3.69 S&P 500 75th %-tile UNIVERSE 39   13.36 Russell 2000 -3.18 -0.0318 UNIVERSE 52   17.86 Russell 1000 Value 0.56 0.0056 95th %-tile 8.12
Total 95th %-tile 95th %-tile 3.56 Total 95th %-tile POLICY -2.15 -0.0215 3.21 Total 52 POLICY -5.34 -0.0534 6.26 Total 16   Qtr 3.69
Weight 1 Yr   Qtr   0.51 Weight 2 Qtrs 24 -2.02 Weight -5.34 -0.0534 84 1.38 Weight 0.09 0.0009 0.56 0.0056 -1.31
100 1 Yr FUND 7.91 0.0791 QU. FUND -0.17 -0.0017 S&P 500 100 7.76 -0.66 S&P500 100 84 0.19 Policy FR2000 100 20 16   R1000V
100 UNIVERSE 26   UNIVERSE 10   5 100 24 -2.29 2 100 0.19 -1.96 2 100 2.14 0.09 0.0009 0
Trailing Returns through March 31, 2005 POLICY 6.69 0.0669 POLICY -2.15 -0.0215 7 Trailing Returns through March 31, 2005 6.88 -3.56   6 Trailing Returns through March 31, 2005 -1.96 -3.12   2 Trailing Returns through March 31, 2005 -0.16 20 4
Fund 38 50 50 Fund 32 -4.83 75 Fund -3.12 -4.57 0 Fund -1.4   2.14 75
S&P 500 12.19 0.61 -17.28 S&P500 11.43 -6.76   -2.15 FR2000 -4.57 -7.43   -5.34 R1000V -2.2 -0.16 0.09
Diff 8.04 -1.3 15.39 Diff 7.49 YTD 15.39 Diff -7.43 YTD 14.09 Diff -3.82   -1.4   10.38
1 Yr 6.25 -2.16   32.67 1 Yr 5.82 7.76 17.54 1 Yr YTD 10.74 19.43 1 Yr YTD -2.2 10.29 1 Yr FUND #REF!
7.91 4.03 -2.68 -24.76 1/4/1900 4.16 24 6.69 1/14/1900 10.74 28 5.41 1/8/1900 10.14 -3.82   13.17 UNIVERSE
6.69 0.26 -4.81   14.81 6.69 2.39 6.88 9.43 5.41 28 8 Standard Deviation 15.06 13.17 20 YTD 7.81 POLICY #REF!
1.22 2 Yr YTD 1 -2.53 3 Qtrs 32 1 8.67 8 74 1 -4.85 10.48 10.14 1
2 Yr 19.09 7.46 0 2 Yr 2.46 11.43 0 2 Yr 74 13.63 0 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 19 20 0
19.09 62 37 1 1/13/1900 35 7.49 1 1/26/1900 13.63 10.87 1 12/31/2003 13.83 10.48 1
20.07 20.07 6.88 0.09 20.07 4.89 5.82 1.99 31.42 10.87 9.34 0.25 Incept 9.42 19 1.48
-0.98 40 49 1.37 -6.49 19 4.16 18.78 -4.52 9.34 7.91 3.83 9.96 7.41 13.83 11.59
3 Yr 26.56 11.83 0 3 Yr 7.7 2.39 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 7.91 5 0 13.07 6.58 9.42 0
1/4/1900 22.06 8.66 Diff 0.24 3.7 2004   Diff 3/31/2003 INCEPTION 5 2004   Diff -3.11 4.16 7.41 Diff
Incept ROR 2.75 19.67 6.84 0   1/2/1900 0.75 2004 FUND 4.69 0.0469 1 Incept UNIVERSE 1 Yr 2004 FUND 22.46 0.2246 0 Fiscal Year Returns Ending September 1 Yr   6.58 2     
Fund 1.8 17.09 5.98 0   -2.51 -0.65 UNIVERSE 87   -1 26.9 POLICY 14.08 0.1408 UNIVERSE 26   0 Fund 8.32 0.0832 4.16 -2     
Policy 4 Yr 12.78 3.71 0   4 Yr -4.09 POLICY 13.87 0.1387 -50 31.42 9 POLICY 18.78 0.1878 100 R1000V 40   2004   -50    
5.45 3 Yr   2004   2.52 1/0/1900 1 Yr 10 -2.77 -4.52 5.41 0.0541 54 2.16 Diff 13.17 0.1317 23.92 0.2392 -1.08
2.11 3 Yr FUND 4.55 0.0455 2004 FUND 13.63 0.1363 -2.47 1/2/1900 1 Yr FUND 4.16 0.0416 15.25 -4.38 Fiscal Year Returns Ending September 64 28.92 0.28 3/31/2005 13 18.34   -0.85
3.34 UNIVERSE 19   UNIVERSE 39   -4.99 -1.44 UNIVERSE 30 11.67 -1.61 Fund 14.91 0.1491 22.49 -1.88 Qtr 16.51 14.42 0.1442 0.23
5 Yr POLICY 2.75 0.0275 POLICY 13.87 0.1387 5.34 5 Yr POLICY 6.69 0.0669 8.28   -2.53 FR2000   11.45 19.1   8.67 0.56 10.51 13.02 -4.85
-2.01 39 35 -1.71 ############################## 16 6.32 -0.21 Diff 7.67 0.0767 16.07 -3.72 1/0/1900 7.12   8.08 -0.5
-3.16 7.35 19.71 -0.14 -3.16 9.2 2.06   -0.08 3/31/2005 3.56 8.02   -0.3 0.47 6.06 2003 -0.17
1.15 4.04 14.67 2.05 -1.36 4.83 2003   -4.05 Qtr -2.23 2003   9.83 2005 1.82   27.67   -2.22
6 Yr 2.42 13.19   -0.05 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 2.07 2003 FUND 19.31 0.1931 -0.11 -3.18 3 Yr FUND Incept 2003 FUND 48.25 0.4825 -0.14 YTD Incept   23.98 -0.22 3 Yr FUND #REF!
2.13 0.94 10.23 0.15 36616.00 0.38 UNIVERSE 63   -0.66 ################################# UNIVERSE 26.9 0.269 UNIVERSE 34.58   0.85 1/10/1900 9.96 0.0996 21.95   -0.56  N/A
0.06 -2.36 5.93   2.32 Incept -3.53 POLICY 24.4 0.244 -5.42 2.16 POLICY 73 POLICY 30.01 0.3001 14.03 10.48 30   19.27   -3.47   #REF!
2.07 4 Yr 2003   3.56 -4.52 2 Yr 23 3.21 2005 31.42 0.3142 25.9 6.26 -0.34 13.07 0.1307 15.84 0.1584 3.69
7 Yr 5.45 2003 FUND 20.49 0.2049 5 Yr -3.16 13.58 0.1358 30.61 3 Yr YTD 39 19.17 Incept 2004 2003 2002 2001 2000 1999 1998 1997 1996 16 2002   Incept
3.74 10 UNIVERSE 73   5 Yr # of Negative Qtrs -1.36 78 23.77 # of Negative Qtrs 10.74 39.27 2002 # of Negative Qtrs Returns in Up Markets 15.7 -6.38 -0.0638 # of Negative Qtrs
1/2/1900 2.11 POLICY 24.4 0.244 # of Positive Qtrs Fiscal Year Returns Ending September 20.07 0.2007 20.39 # of Positive Qtrs 1/8/1900 32.95 6.59 # of Positive Qtrs Fund 10.4 -15.42 # of Positive Qtrs
1.21   39 25 Batting Average Fund 17 18.37 Batting Average 1/2/1900 30.14 -1.82 Batting Average R1000V 7.14 -18.95 Batting Average
8 Yr   7.32 29.75 Worst Qtr S&P500 23.58 14.19 Worst Qtr 2004 26.2 -7.42 Worst Qtr Ratio 6.12 -20.72 Worst Qtr
1/8/1900 3.13 24.33 Best Qtr Diff 18.64 2002   Best Qtr 1/22/1900 21.56 -12.12   Best Qtr 1 Yr 2.53 -24.03 Best Qtr
7.33 1.84 23.28 Range 3/31/2005 16.04 2002 FUND -17.07 -0.1707 Range 1/18/1900 40.17 2002 FUND -19.94 -0.1994 Range 1/8/1900   2001 Range
0.81 0.61 20.05 Worst 4 Qtrs Qtr 13.85 UNIVERSE 15   Worst 4 Qtrs 3.68 37.27 UNIVERSE 2001   Worst 4 Qtrs 13.2 0 5.47 Worst 4 Qtrs
9 Yr -2.51 14.08 Standard Deviation -2.93 11.6 POLICY -20.49 -0.2049 Standard Deviation 2003 2002 2001 2000 1999 1998 1997 1996 33.56 POLICY 9.26 0.0926 Standard Deviation 63.2   -5.14   Standard Deviation 5 Yr FUND
9.29 5 Yr   2002   Beta ############################## 3 Yr 40 Beta Returns in Up Markets 26.71 -2.9 Beta 12/31/2003 0 -13.19 -0.1319 Beta  N/A
8.67 5 Yr FUND -2.01 -0.0201 2002 FUND -7.86 -0.0786 Annualized Alpha -0.78 3 Yr FUND 0.24 0.0024 -12.11 Annualized Alpha Fund -15.03 Annualized Alpha Incept -23.01   Annualized Alpha  
0.62 UNIVERSE 35   UNIVERSE 1   R-Squared 2005 UNIVERSE 43 -19.07 R-Squared FR2000 -25.09 R-Squared 10 -27 -0.27 R-Squared
10 Yr POLICY -3.16 -0.0316 POLICY -20.49 -0.2049 Sharpe Ratio YTD POLICY 2.75 0.0275 -21.45   Sharpe Ratio Ratio -41.08   Sharpe Ratio 13.1 2000 Sharpe Ratio
10.7 48 60 Treynor Ratio 7.76 18 -23.71 Treynor Ratio 1 Yr 2000 Treynor Ratio 76.2   22.25 Treynor Ratio
1/10/1900 4.64 -10.38 Tracking Error 1/6/1900 5.13 -29.04   Tracking Error 1/19/1900 62.14   Tracking Error Returns in Down Markets 13.38 Tracking Error
-0.18 -0.35 -17.12 Information Ratio 0.88 1.84   2001   Information Ratio 14.6 39.49   Information Ratio Fund   8.39   Information Ratio
9/30/1992 -3.32 -19.82   Fund Fund 2004 -0.56 2001 FUND -30.23 -0.3023 Fund 133.2 5 Yr FUND 2001 FUND 30.15 0.3015 Fund R1000V   3.08 Fund #REF!
Incept -4.92 -21.16 10 4.69 -2.26 UNIVERSE 7   6 3/31/2003 N/A UNIVERSE 19.95   2 Ratio 0 -3.5   2
11.36 -8.37 -25.68   10 13.87 -4.07 POLICY -26.62 -0.2662 6 Incept   POLICY 9.11 0.0911 6 1 Yr   1999   3 #REF!
10.87 6 Yr 2001   Batting Average 55 -9.18 4 Yr 2 41.67 2/10/1900 1999 50 12/31/2003 0 28.08 0.2808 40
0.49 2.13 2001 FUND -31.06 -0.3106 -15.47 2003 0.67 0.0067 -29.08 -14.71 52.2 50.94 -3.18 Incept 20.54   -0.99
Fiscal Year Returns Ending September 27 UNIVERSE 84   14.77 19.31 31 -35.09 11.01 79.9 31.67 14.47 15.47 0.1547 9.53
Fund 0.06 POLICY -26.62 -0.2662 30.24 1/24/1900 2.11 0.0211 -38.5 25.72 Returns in Down Markets 21.4 17.65 11.7 10.52
S&P 500 52 52 -31.06 -5.09   18 -43.41 -21.93 Fund 11.57 14.08 4.46 8.32
Diff 7.63 -12.56 Standard Deviation 15.76 2002   4.83 -51.41 13.06 FR2000 1.61 10.35 1998 7.03
3/31/2005 2.24 -20.73 Beta 0.98 -17.07 1.13 2000   0.85 Ratio 1998   Beta 0.6 9.83 0.85
Qtr 0.12 -26.57 Annualized Alpha 1.18 0.0118 -20.49 -1.12 2000 FUND 46.3 0.463 -2.14   1 Yr 2000 FUND -1.61 -0.0161 Alpha 7.55 0.0755     6.07 -0.93 -0.0093  
-0.17 -0.89 -28.89 R-Squared 0.92   3.42 -3.23 UNIVERSE 27.14   0.93 -4.5 UNIVERSE -9.72   0.79 0 1.83 0.78
-2.15 -3.57 -35.02 -0.3 2001 -5.55 POLICY 20.88 0.2088 -0.09 -8 POLICY -16.12 -0.1612 2.47   -0.8   1.21
1.98 7 Yr 2000   -4.74 -30.23 5 Yr 14.34 -1.34 56.3 -20.15 42.68 0 -5.82 -0.0582 10.01
2005 3.74 2000 FUND 16.14 0.1614 4.39 -26.62 5 Yr FUND -4.52 -0.0452 8.45 4.03 3/31/2003 -27.66 7.73 1997   3.5
YTD 22 UNIVERSE 30   0.26 -3.61 UNIVERSE 15 1999 -0.62 Incept 1997 -0.58 40.89 0.4089 -0.89
7.46 2.53 POLICY 13.28 0.1328 Policy S&P 500 2000 1999 1998 1997 1996 POLICY -3.16 -0.0316 38.21 S&P500 -4.5 50.43 FR2000 37.35 R1000V
6.88 41 46 10 Returns in Up Markets 11 31.55 5 -8 37.65 2 34.36 0
0.58 6.61 27.56 10 Fund -2.08 27.96 7 56.3 31.25 6 29.65 5
2004 3.4 17 45 S&P500 -6.87 26.33 58.33 23.64 50 22.45 60
13.63 2.31 13.02 -17.28 Ratio -9.1 20.01 -17.28 13.98 -5.34 0.09
13.87 1.23 9.15 15.39 2 Yr -11.05 1998 15.39 10.54 23.42 10.38
################################### -1.52 1.34 32.67 25 -13.93 16.52 32.67 28.76 10.29
2003 8 Yr 1999 -26.62 31.1 6 Yr 9.1 -24.76 5.41 13.17
20.49 8.14 30.59 15.5 80.4   6.72 7.45 14.81 15.36 7.29
1/24/1900 20 19 Standard Deviation 1 3 Yr 0.17 2.95 1   1 1
################################### 7.33 26.68 0 25.2 -2.56 -4.96 0 0 0
2002 33 41 1 32.1 -4.03 1997 1   1 1
-7.86 10.76 36.18 -0.37 78.6 -6.69 47.4 0.09 1.96 1.59
-20.49 7.62 28.77 -5.8 4 Yr 7 Yr 40.13 1.37 30.13 11.62 QU. FUND #REF!
12.63 6.92 24.51 0 24.9 7.29 36.8 0 0 0 UNIVERSE
2001 5.58 16.71 Diff 29.6 2.94 32.7 Diff Diff Diff POLICY #REF!
-31.06 2.83 9.03 0 83.9 0.97 28.02 1 0 2
-26.62 9 Yr 1998 0 3/31/2000 -0.89 11.91 -1 0 -2
-4.44 9.29 6.61 10 Incept -2.54 -16.66 0 -20
2000 20 31 1.81 24.9 8 Yr 2.57 2.16 -1.08
16.14 8.67 10.1 -0.62 29.6 12.15 -4.38 -8.95 -0.85
13.28 27 13   -2.43 83.9 7.44 -6.95 QU. FUND   -11.11 0.23
2.86 11.4 15.53 -4.44 Returns in Down Markets 5.99 2.83 UNIVERSE 8.67 -4.85
1999 8.73 7.46   0.26 Fund 4.3 -1.75 POLICY   -5.01 -0.26
30.59 7.95 3.17 -0.02 S&P500 2.33 -0.15 -0.4 -0.15
26.68 6.58 -0.89 1.18 Ratio 8 Yr -2.14 7.55 -0.93
3.91 4.22 -8.95 -0.08 2 Yr 12.56 -0.07 -0.21 -0.22
1998 10 Yr 1997 0.07 -7.7 7.89 -0.18 0.51 -0.38
6.61 10.7 35.14 1.06 -4 6.15 -2.71 12.55 -1.61
10.1 28 53 4.39 193.5 4.64 4.03 7.73 3.5
################################### 10.88 40.62 10 Yr 3 Yr 2.32 4 Yr Incept
1997 24 10 # of Negative Qtrs -26.6 # of Negative Qtrs
35.14 13.4 42.56 # of Positive Qtrs -27.7 # of Positive Qtrs
40.62 10.8 38.43   Batting Average 95.9 Batting Average 2002 FUND #REF!
-5.48 9.94 35.41 Worst Qtr 4 Yr Worst Qtr UNIVERSE
1996 8.55 32.81   Best Qtr -29.7 Best Qtr POLICY #REF!
20.02 6.17 27.93 Range -31.4 Range
21.32 8.4 Worst 4 Qtrs 4/3/1900 Worst 4 Qtrs
-1.3 6.23 Standard Deviation 3/31/2000 Standard Deviation
Returns in Up Markets Beta Incept Beta
Fund Annualized Alpha -27 Annualized Alpha
S&P 500   R-Squared -27.7 R-Squared 2002 FUND  
Ratio Sharpe Ratio 97.6 Sharpe Ratio UNIVERSE
3 Yr   Treynor Ratio Treynor Ratio POLICY   2001 FUND #REF!
26.7 Tracking Error Tracking Error UNIVERSE
32.1   Information Ratio Information Ratio POLICY #REF!
83.3 Fund Fund
5 Yr 12 7
30.3 28 9  
29.6 47.5 50 Batting Average
102.3 -15.47 -14.71
10 Yr   22.14 11.01 2001 FUND  
31.7 37.61 25.72 UNIVERSE
33.2   -31.06 -21.93 POLICY   2000 FUND #REF!
95.5 15.44 13.45  N/A Standard Deviation
9/30/1992   0.96 0.86   #REF! Beta
Incept 0.34   -1.22 Annualized Alpha #REF!
28.2 0.92 0.94 R-Squared
28.2 0.44 -0.08
100.1 7.07 -1.33
Returns in Down Markets 4.42 3.97
Fund   -0.04 -0.36 2000 FUND  
S&P 500 S&P 500 S&P500 UNIVERSE Policy
Ratio   12 6 POLICY   1999 FUND #REF!
3 Yr 28 10  N/A
-20.1   52.5 50   #REF!
-27.7 -17.28 -17.28
72.6 21.13 15.39
5 Yr 38.41 32.67
-26.3 -26.62 -24.76
-27.7 15.48 15.11 Standard Deviation
95.2   1 1 1999 FUND  
10 Yr 0 0 N/A
-26.2   1 1     1998 FUND #REF!
-27.7 0.45 0.02  N/A
94.5   6.97 0.3   #REF!
9/30/1992 0 0
Incept Diff Diff
-25.4 0 1
-26.6 0 -1
95.5 -5 0
1.81 2.57 1998 FUND
1.01 -4.38 N/A
  -0.8 -6.95     #REF!
-4.44 2.83  
  -0.04 -1.66   #REF!
-0.04 -0.14
0.34 -1.22
-0.08 -0.06
-0.01 -0.1
0.1 -1.63
4.42 3.97
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
13 10
  37 10
Batting Average 50 Batting Average 50
-15.47 -14.71
22.14 11.01
37.61 25.72
-31.06 -30.23
Standard Deviation 14.37 Standard Deviation 14.61
Beta 0.96 Beta 0.9
Annualized Alpha 0.91 0.0091 Annualized Alpha -1.73 -0.0173 0 0
R-Squared 0.91 R-Squared 0.91
0.52 -0.49
7.79 -7.96
4.3 4.69
0.11 -0.29
Policy S&P 500 Policy S&P500
13 10
37 10
50 50
-17.28 -17.28
21.13 15.39
38.41 32.67
-26.62 -26.62
Standard Deviation 14.29 Standard Deviation 15.5
1 1
0 0
1 1
0.49 -0.37
6.99 -5.8
0 0
Diff Diff
0 0
0 0
0 0
1.81 2.57
1.01 -4.38
-0.8 -6.95
-4.44 -3.61
0.08 -0.89
-0.04 -0.1
0.91 -1.73
-0.09 -0.09
0.03 -0.12
0.8 -2.16
4.3 4.69
-0.09
0.02
0.64
4.32