Hollywood Police Officers' Pension Fund
Alpha & Beta: 5-Years Trailing (or Inception if Less)
June 30, 2006
BETA
				Current
				Policy	Jun-06	Mar-06	Dec-05	Sep-05	Jun-05	Mar-05	Dec-04	Sep-04
	Total Fund			*	0.84	0.85	0.87	0.88	0.92	0.93	0.92	0.94
	Managers, Equities
	Davis, Hamilton, Jackson			R1000G	0.77	0.76	0.68	0.69	0.67	0.90	0.90	0.89
	Inverness			S&P500	0.92	0.94	0.97	0.98	0.98	0.98	0.95	0.96
	Eagle			R2000	0.67	0.67	0.65	0.63	0.62	0.60	0.56	0.56
	Buckhead			R1000V	0.80	0.78	0.82	0.87	0.83	0.85	0.96
	Inverness Fixed Income		50% LBGC, 50% LBIGC		0.89	0.89	0.89	0.89	0.89	0.90	0.89	0.89
ALPHA
	Total Fund			*	1.82%	2.03%	1.48%	0.88%	-0.06%	0.03%	-0.23%	0.47%
	Managers, Equities
	Davis, Hamilton, Jackson			R1000G	1.24%	1.29%	1.37%	1.87%	2.63%	-1.73%	-1.61%	-2.29%
	Inverness			S&P500	3.05%	3.53%	2.61%	1.38%	0.85%	1.18%	0.37%	1.56%
	Eagle			R2000	5.78%	6.22%	6.00%	7.10%	6.70%	7.55%	10.24%	7.51%
	Buckhead			R1000V	-1.03%	-0.46%	-0.89%	-2.57%	-0.75%	-0.93%	-3.33%
	Inverness Fixed Income		50% LBGC, 50% LBIGC		0.94%	0.92%	0.97%	1.04%	1.21%	1.12%	1.06%	1.09%
* 33% S&P500, 23% LBIGC, 23% LBGC, 10% R1000G, 7% R1000V, 4% R2000
	ASSET CONSULTING GROUP, INC.
	Formerly a division of Gabriel, Roeder, Smith, & Co.											Page 21