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 Net Returns (Stocks + Cash) DHJ Total Net Returns (Stocks + Cash) DHJ Total Gross Returns (Stocks + Cash) DHJ Total Net Returns (Stocks + Cash) EAM Net Total (Stocks + Cash) EAM Net Total (Stocks + Cash) EAM Gross Total (Stocks + Cash) EAM Net Total (Stocks + Cash) Buckhead Net Total (Equity + Cash) Buckhead Net Total (Equity + Cash) Buckhead Gross Total (Equity + Cash) Buckhead Net 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
40 Broad Large Cap Core Broad Large Cap Core 42 45 Broad Large Cap Growth Conservative Broad Large Cap Growth Core 47 50 Broad Small Cap Broad Small Cap 52 55 Broad Large Cap Value Core Broad Large Cap Value Core 57
Inception date is September 30, 1992 41 50 3 Yr Inception date is March 31, 2000 46 60 3 Yr Inception date is March 31, 2003 51 68 Incept 1 Yr Inception date is December 31, 2003 56 76 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 September 30, 2006 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2000 to September 30, 2006 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2003 to September 30, 2006 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is December 31, 2003 to September 30, 2006 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through September 30, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through September 30, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through September 30, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through September 30, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr
Beginning Value Fund 75-95th %tile Fund S&P 500 Best Qtr Beginning Value Fund 75-95th %tile Fund R1000G Best Qtr Beginning Value Fund 75-95th %tile Fund FR2000 Best Qtr Beginning Value Fund 75-95th %tile Fund R1000V Best Qtr
Net Flows Return -40.00% Range Net Flows Return -75.00% Range Net Flows Return -50.00% Range Net Flows Return -30.00% Range
Investment G/L %-tile -30.00% Worst 4 Qtrs Investment G/L %-tile -50.00% Worst 4 Qtrs Investment G/L %-tile -25.00% Worst 4 Qtrs Investment G/L %-tile -20.00% Worst 4 Qtrs
Ending Value S&P 500 -20.00% Standard Deviation Ending Value R1000G -25.00% Standard Deviation Ending Value FR2000 0.00% Standard Deviation Ending Value R1000V -10.00% Standard Deviation
9/30/2006 Return -10.00% Beta 9/30/2006 Return 0.00% Beta 9/30/2006 Return 25.00% Beta 9/30/2006 Return 0.00% Beta
Qtr %-tile 0.00% Annualized Alpha Qtr %-tile 25.00% Annualized Alpha Qtr %-tile 50.00% Annualized Alpha Qtr %-tile 10.00% Annualized Alpha
63,933 Universe 10.00% R-Squared 22,800 Universe 50.00% R-Squared 9,232 Universe 75.00% R-Squared 12,357 Universe 20.00% R-Squared
382 5th %-tile 20.00% Sharpe Ratio -2 5th %-tile 75.00% Sharpe Ratio 11 5th %-tile 100.00% Sharpe Ratio 592 5th %-tile 30.00% Sharpe Ratio
3,639 25th %-tile 30.00% Treynor Ratio 475 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio -27 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 644 25th %-tile 40.00% Treynor Ratio
67,953 50th %-tile 40.00% Tracking Error 23,273 50th %-tile Fiscal Year Returns Ending September Tracking Error 9,215 50th %-tile Fiscal Year Returns Ending September Tracking Error 13,593 50th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Tracking Error
2006 75th %-tile 50.00% Information Ratio 2006 75th %-tile Fund Information Ratio 2006 75th %-tile Fund Information Ratio 2006 75th %-tile Fiscal Year Returns Ending September Information Ratio
YTD 95th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Fund YTD 95th %-tile Return Fund YTD 95th %-tile Return Fund Fund YTD 95th %-tile Fund Fund
61,936 1 Yr Fiscal Year Returns Ending September 4 22,361 2 Qtrs %-tile 4 8,379 2 Qtrs %-tile 2 11,618 2 Qtrs Return 1
-2,054 13.06 0.1306 Fund 8 25 -1.78 R1000G 8 16 -3.07 FR2000 2 589 4.27 %-tile 3
8,071 9   Return 41.67 887 71 Return 41.67 821 22 Return Batting Average 50 1,386 57 R1000V 25
67,953 10.79 0.1079 %-tile -1.92 23,273 -0.12 %-tile -5.04 9,215 -4.61 %-tile -2.78 13,593 6.85 Return -0.62
9/30/1992 29 S&P 500 12.06 3/31/2000 50 Universe 10.88 3/31/2003 43 Universe 11.93 12/31/2003 13 %-tile 4.93
Incept 13.68 Return 13.98 Incept 6.15 5th %-tile 15.92 Incept -0.52 5th %-tile 14.71 Incept 7.6 Universe 5.55
  18,638 10.94 %-tile 5.29 10,795 2.62 25th %-tile 3.43 4,822 -3.33 25th %-tile 9.79 7,800 5.91 5th %-tile 11.63  
-27,357 10.25 Universe 8.2 14,085 -0.25 50th %-tile 8.64 12 -5.42 50th %-tile Standard Deviation 11.7 3,108 4.59 25th %-tile 5.46
76,672 7.48 5th %-tile 1.01 -1,607 -2.73 75th %-tile 0.95 4,382 -7.19 75th %-tile Beta 0.85 2,686 3.8 50th %-tile BETA 0.64
67,953  67,953,000                                                       3 25th %-tile 1.11 23,273  23,273,000 -7.14 95th %-tile -1.09 9,215    9,215,000 -10.26 95th %-tile Annualized Alpha 1.23 0.0123 13,593           13,593,000 1.39 75th %-tile ALPHA 2.34 0.0234 #REF!
Investment Policy 2 Yr 50th %-tile 0.88 Investment Policy 3 Qtrs Qtr 0.94 Investment Policy 3 Qtrs Qtr R-Squared 0.95 Investment Policy 3 Qtrs 95th %-tile 0.61
Index 13.55 75th %-tile 1.33 Index 0.84 QU. FUND -3.66 -0.0366 0.48 Index 8.49 QU. FUND -2.59 -0.0259 0.46 Index 8.56 Qtr 1.32
S&P 500 16 95th %-tile 10.82 Russell 1000 Growth 82 UNIVERSE 39   4.36 Russell 2000 20 UNIVERSE 12   6.33 Russell 1000 Value 62 -0.49 -0.0049 11.28
Total 11.52 Qtr 2.88 Total 2.97 POLICY -3.9 -0.039 2.21 Total 8.69 POLICY -5.02 -0.0502 3.23 Total 13.19 36   4.2
Weight 45 -1.55 -0.0155 0.44 Weight 56 46 -0.71 Weight 19 54 -0.04 Weight 2 0.59 0.0059 -0.71
100 1 Yr FUND 15.52 QU. FUND 41   S&P 500 100 10.73 -1.39 R1000G 100 11.24 -1.91 Policy FR2000 100 12.98 13 R1000V
100 UNIVERSE 12.54 UNIVERSE -1.44 -0.0144 3 100 6.73 -3.05 3 100 7.93 -3.39 1 100 11.18 1.73 0
Trailing Returns through September 30, 2006 POLICY 11.34 POLICY 30 9 Trailing Returns through September 30, 2006 3.4 -4.08   9 Trailing Returns through September 30, 2006 5.59 -4.84   3 Trailing Returns through September 30, 2006 9.65 -0.06 4
Fund 9.9 0.64 58.33 Fund 1.68 -5.16 58.33 Fund 3.27 -6.35 50 Fund 8.31 -1.29 75
S&P 500 6.67 -1.19 -2.15 R1000G -3.16 -6.87   -5.23 FR2000 0.14 -9.22   -5.02 R1000V 4.95 -1.6 0.59
Diff 3 Yr -1.85 12.18 Diff 1 Yr YTD 10.41 Diff 1 Yr YTD 13.93 Diff 1 Yr -3.2   6.22
1 Yr 13.58 0.1358 -3.28   14.33 1 Yr 3.97 0.0397 2.22 15.64 1 Yr 9.79 0.0979 10.76 18.95 1 Yr 11.63 0.1163 YTD 5.63 1 Yr FUND #REF!
13.06 25   -5.66 4.91 1/3/1900 78 64 1.16 1/9/1900 30 20 9.92 1/11/1900 46   6.81   14.62 UNIVERSE
10.79 12.3 0.123 YTD   7.62 6.03 6.03 0.0603 2.02 8.76 9.92 9.92 0.0992 9.44 Standard Deviation 13.43 14.62 14.62 0.1462 24 6.67 POLICY #REF!
2.27 41 6.94 1 -2.06 59 67 1 -0.13 29 28 1 -2.99 9 7.91 1
2 Yr 16 16 0 2 Yr 12.28 8.65 0 2 Yr 14.58 13.84 0 2 Yr 15.53 13 0
13.55 13.5 4.85 1 1/8/1900 10.11 5.33 1 1/15/1900 10.38 9.78 1 1/11/1900 13.04 9.32 1
11.52 12.05 42 1.27 8.78 6.63 2.98 0.65 13.86 7.72 7.83 0.41 15.65 11.24 6.74 1.53
2.03 10.6 8.45 9.65 -0.66 4.5 1.38 5.7 1.38 4.83 5.58 5.51 -4.19 10.32 4.82 10.21
3 Yr 6.72 5.82 0 3 Yr 0.01 -1.66 0 3 Yr 2.19 1.51 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 7.31   4.38 0
1/13/1900 4 Yr 4.67 Diff 6.79 2 Yr 2005   Diff 1/17/1900 INCEPTION 2 Yr 2005   Diff 12/31/2003 2 Yr 1.98 Diff
Incept ROR 12.3 15.27 3.13 1   1/8/1900 8.12 2004 FUND 13.12 0.1312 1 1/15/1900 UNIVERSE 15.24 2004 FUND 21.9 0.219 1 Incept 11.46 0.1146 2005 1     
Fund 1.28 37 0.06 -1   -1.56 82 UNIVERSE 55   -1 1.81 POLICY 27 UNIVERSE 23   -1 8.95 71 11.9 0.119 -1     
Policy 4 Yr 15.21 2005 -16.66   4 Yr 8.78 POLICY 11.6 0.116 -16.66 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 13.86 POLICY 17.95 0.1795 0 13.35 15.65 0.1565 62   -50    
15.27 38 14.04   0.23 1/9/1900 62 71 0.19 3/31/2003 45 63 2.24 -4.4 12 16.69 0.1669 -1.21
15.21 3 Yr FUND 18.04 2004 FUND 38 -0.12 1/12/1900 1 Yr FUND 13.28 25.77 0.47 Incept 17.58 26.4 -2 Fiscal Year Returns Ending September 16.65 23 -1.29
0.06 UNIVERSE 16.05 UNIVERSE 12.25 -0.35 -2.85 UNIVERSE 11.49 18.07 0.28 20.29 15.39 21.72 -4.24 Fund 14.13 24.1 -0.08
5 Yr POLICY 14.88 POLICY 57 0.38 5 Yr POLICY 9.55 13.56   2.27 23.16   13.48 19.25   -0.13 R1000V 12.54 16.12 -2.99
10.22 13.09 22.88 0.58 1/3/1900 8.43 11.02 -0.12 ################################# 12.06 16.53 -1.73 Diff 11.38 12.74   -1.21
6.97 9.2 15.79 0.01 4.42 5.31 7.76   -0.05 Fiscal Year Returns Ending September 9.8 11.14   -0.15 9/30/2006 8.89 11.06 -0.36
3.25 5 Yr   12.59 1.11 -0.83 3 Yr 2004   -1.09 Fund 3 Yr 2004   1.23 Qtr 3 Yr 7.98   2.34
6 Yr 10.22 0.1022 11.47 -0.12 6 Yr 6.79 0.0679 2003 FUND 4.69 0.0469 -0.06 FR2000 3 Yr FUND 17.29 0.1729 2003 FUND 22.46 0.2246 -0.05 4.93 18.04 2004   -0.39 3 Yr FUND #REF!
1.93 9   7.61 0.06 -3.09 87 UNIVERSE 87   -0.17 Diff UNIVERSE 28 UNIVERSE 26   0.05 1/6/1900 15.21 23.92 0.2392 -0.21  N/A
0.46 6.97 0.0697 2004 1.17 ############################## 8.35 0.0835 POLICY 7.51 0.0751 -1.34 9/30/2006 POLICY 15.48 0.1548 POLICY 18.78 0.1878 0.82 -1.29 14.01 18.34   1.07   #REF!
1.47 44 13.63 2.88 3.26 68 61 2.21 Qtr 53 54 3.23 2006 12.23 14.42 0.1442 4.2
7 Yr 10.62 2003 FUND 39 5 Yr 7 Yr 8 Yr 9 Yr 10 Yr 14.18 15.25 5 Yr -0.29 21.06 28.92 2 Yr YTD 10.53 13.02 2 Yr
3.85 8.32 UNIVERSE 13.87 5 Yr # of Negative Qtrs 3/31/2000 11.24   11.67 # of Negative Qtrs 0.44 17.49 22.49 # of Negative Qtrs 11.63 4 Yr 8.08 # of Negative Qtrs
1/2/1900 6.76 POLICY 35 # of Positive Qtrs Incept 9.2 8.28 # of Positive Qtrs ################################# 15.63 19.1 # of Positive Qtrs 1/14/1900 18.91 2003 # of Positive Qtrs
1.65   5.47 19.71 Batting Average ############################## 8.04 6.32 Batting Average 6/28/1905 13.24 16.07 Batting Average ################################# 17.04 27.67 Batting Average
8 Yr   2.18 14.67 Worst Qtr -7.06 5.62 2.06 Worst Qtr YTD 10.76 8.02 Worst Qtr 2005 15.9 23.98 Worst Qtr
1/6/1900 6 Yr 13.19 Best Qtr 1/4/1900 4 Yr 2003   Best Qtr 1/9/1900 4 Yr 2003   Best Qtr 1/11/1900 14.99 21.95 Best Qtr
4.98 1.93 10.23 Range Fiscal Year Returns Ending September 9.65 2002 FUND 19.31 0.1931 Range 1/9/1900 26.46 2002 FUND 48.25 0.4825 Range 1/16/1900 13.2 19.27   Range
1.89 32 5.93 Worst 4 Qtrs Fund 83 UNIVERSE 63   Worst 4 Qtrs -0.13 21.26 UNIVERSE 34.58   Worst 4 Qtrs -5.4 5 Yr 15.84 Worst 4 Qtrs
9 Yr 0.46 2003 Standard Deviation R1000G 12.5 POLICY 25.91 0.2591 Standard Deviation 2005 19.49 POLICY 30.01 0.3001 Standard Deviation 2004 2003 2002 2001 2000 1999 1998 1997 11.46 2002   Standard Deviation 5 Yr FUND
6.84 49 20.49 Beta Diff 39 17 Beta 1/20/1900 17.95 25.9 Beta Returns in Up Markets 9.63 -6.38 Beta  N/A
5.54 5 Yr FUND 8.08 2002 FUND 73 Annualized Alpha 9/30/2006 3 Yr FUND 15.82 30.61 Annualized Alpha 17.95 15.46 19.17 Annualized Alpha Fund 8.17 -15.42 Annualized Alpha  
1.3 UNIVERSE 3.2 UNIVERSE 24.4 R-Squared Qtr UNIVERSE 13.41 23.77 R-Squared 3 5 Yr 2002 R-Squared R1000V 6.88 -18.95 R-Squared
10 Yr POLICY 0.35 POLICY 25 Sharpe Ratio 2.08 POLICY 11.74 20.39   Sharpe Ratio 2004 19.76 6.59   Sharpe Ratio Ratio 5.53 -20.72 Sharpe Ratio
9.38 -1.91 29.75 Treynor Ratio 3.94 10.43 18.37 Treynor Ratio 21.5 16.27 -1.82 Treynor Ratio 1 Yr 6 Yr -24.03   Treynor Ratio
1/8/1900 -7.84 24.33 Tracking Error ############################## 8.13 14.19   Tracking Error 1/18/1900 13.95 -7.42   Tracking Error 1/11/1900 8.77 2001 Tracking Error
0.77 7 Yr 23.28 Information Ratio 2006 5 Yr 2002   Information Ratio 2.72 11.68 -12.12   Information Ratio 14.6 6.52 5.47   Information Ratio
9/30/1992 3.85 20.05 Fund Fund YTD 3.59 0.0359 2001 FUND -17.07 -0.1707 Fund 2003 2002 2001 2000 1999 1998 1997 5 Yr FUND 8.35 2001 FUND -19.94 -0.1994 Fund 79.5 4.38 -5.14   Fund #REF!
Incept 29 14.08 7 3.97 74 UNIVERSE 15   7 Returns in Up Markets N/A 6 Yr UNIVERSE 2001   3 2 Yr 2.17 -13.19 -0.27 1
11.52 2.2 2002 13 6.03 4.42 0.0442 POLICY -22.51 -0.2251 13 Fund   17.22 POLICY 9.26 0.0926 5 11.5 0.34 -23.01   7 #REF!
10.85 50 -7.86 Batting Average 55 -2.06 63 63 40 FR2000 12.72 -2.9 62.5 1/15/1900 7 Yr -27 0.2225 25
0.67 8.52 2001 FUND 1 -14.76 2005 7.92 -12.11 -14.83 Ratio 7.86 -15.03 -3.38 73.2 8.74 2000 -0.62
Fiscal Year Returns Ending September 4.41 UNIVERSE -20.49 14.77 12.44 6.08 -19.07 10.88 1 Yr 1.23 -25.09 14.17 12/31/2003 6.87 22.25 9.38
Fund 2.2 POLICY 60 29.53 1/11/1900 5.07 -21.45 25.71 1/12/1900 -9.47 -41.08 17.55 Incept 5.29 13.38 10
S&P 500 0.93 -10.38 -19.42 0.84   3.47 -23.71 -22.33 15.7 7 Yr 2000 7.22 9 2.86 8.39 4.62
Diff -2.85 -17.12 Standard Deviation 11.77 2004   1.66 -29.04 11.47 82.3 18.59 62.14 11.8 13.4 1.95 3.08 6.44
9/30/2006 8 Yr -19.82 Beta 0.89 4.17 6 Yr 2001   0.79 2 Yr 14.67 39.49   Beta 0.79 67 8 Yr -3.5 0.74
Qtr 6.87 -21.16 Annualized Alpha 3.79 0.0379 7.51 -3.09 2000 FUND -30.23 -0.3023 0.03 0.0003 26 11.5 2000 FUND 30.15 0.3015 Alpha 3.86 0.0386   Returns in Down Markets 10.1 1999   0.1 0.001  
5.72 23 -25.68 R-Squared 0.91   -3.34 49 UNIVERSE 7   0.89 27.6 6.63 UNIVERSE 19.95   0.92 Fund 8.03 28.08 0.1547 0.66
5.67 4.98 2001 0.68 2003 -6.35 POLICY -45.64 -0.4564 0.12 94 0.79 POLICY 9.11 0.0911 1 R1000V 6.6 20.54   1.24
0.05 50 -31.06 8.99 18.73 77 84 1.73 3 Yr 8 Yr 1999 14.91 Ratio 5.27 15.47 0.0446 10.81
2006 9.96 2000 FUND 84 3.71 25.91 5 Yr FUND 1.52 -29.08 4.76 1/28/1900 20.34 50.94 4.41 1 Yr 2 Yr 4.48 11.7 4.18
YTD 6.58 UNIVERSE -26.62 0.88 -7.18 UNIVERSE -1.09 -35.09 -0.17 28.7 15.26 31.67 0.31 12/31/2003 Fiscal Year Returns Ending September 4.46 -1
13.06 4.93 POLICY 52 Policy S&P 500 2002 POLICY -3.24 -38.5 R1000G 98 12.71 21.4 FR2000 Incept Fund 1998 R1000V
10.79 4.14 -12.56 6 ############################## -5.81 -43.41 7 3/31/2003 9.79 11.57 2 Return 9.83 0
2.27 1.98 -20.73 14 -22.51 -11.54 -51.41 13 Incept 5.16 1.61 6 %-tile 6.07 8
2005 9 Yr -26.57 45 5.01 7 Yr 2000 60 30.2 Fiscal Year Returns Ending September 1998 37.5 R1000V 1.83 75
14.04 6.84 -28.89 -17.28 2001 3.77 46.3 -18.67 36.9 Fund -1.61 -5.34 Return -0.8 0.09
12.25 14 -35.02 15.39 -30.55 2.44 27.14 15.14 81.7 Return -9.72 14.09 %-tile -5.82 10.38
1/1/1900 5.54 2000 32.67 -45.64 0.25 20.88 33.81 Returns in Down Markets %-tile -16.12 19.43 Universe 10.29
2004 38 16.14 -24.76 15.09 -0.45 14.34 -27.89 Fund FR2000 -20.15 4.55 5th %-tile 7.05
13.63 8.52 30 12.64 2000 1999 1998 1997   -1.22 8.45 13.79 FR2000 Return -27.66 14.27 25th %-tile 7.08
1/13/1900 5.93 13.28 Standard Deviation 1 Returns in Up Markets 8 Yr 1999 1 Ratio %-tile   1 50th %-tile 1
################################### 5.24 46 0 Fund 6.48 38.21 0 1 Yr Universe 0 75th %-tile 0
2003 3.9 27.56 1 R1000G 5.34 31.55 1 -2.8 5th %-tile   1 95th %-tile 1
20.49 1.08 17 0.38 Ratio 3.74 27.96 0.16 -5 25th %-tile 0.73 Qtr 1.72
24.4 10 Yr 13.02 4.75 3 Yr 3.03 26.33 2.2 55.4 50th %-tile 10.4 4.93 0.0493 12.19 QU. FUND #REF!
-3.91 9.38 9.15 0 15.2 2.25 20.01 0 2 Yr 75th %-tile 0 71 0 UNIVERSE
2002 18 1.34 Diff 18.2 Fiscal Year Returns Ending September 1998 Diff -6.1 95th %-tile Diff 6.22 0.0622 Diff POLICY #REF!
-7.86 8.61 1999 1 83.6 Fund 16.52 0 -10.1 Qtr 1 20 1
-20.49 33 30.59 -1 5 Yr Return 9.1 0 60.2 -0.29 -0.0029 -1 7 -1
12.63 11.23 19 10 19.8 %-tile 7.45 -20 3 Yr 46 25 5.88 -50
2001 8.97 26.68 2.52 26.3 R1000G 2.95 3.84 -7.6 0.44 0.0044 1.96 5.57 -0.71
-31.06 8.24 41 -0.62 75.2 Return -4.96 -4.26 -12.7 30 0.08 4.81 -1
-26.62 6.46 36.18   -3.14 6 Yr %-tile -8.1 59.8 QU. FUND 3.16   -1.88 2.17 -0.29
-4.44 3.31 28.77 5.34 1/20/1900 Universe 5.56 3/31/2003 UNIVERSE 0.68 2.67 YTD -2.43
2000 Fiscal Year Returns Ending September 24.51   -0.87 27.1 5th %-tile -2.32 Incept POLICY -0.53   -2.47 11.63 -0.64
16.14 Fund 16.71 -0.11 74.4 25th %-tile -0.21 -7.6 -1.9 -0.21 46 -0.26
13.28 Return 9.03 3.79 3/31/2000 50th %-tile 0.03 -12.7 -3.45 3.86 14.62 0.1
2.86 %-tile 1998 -0.09 Incept 75th %-tile -0.11 59.8 YTD -0.08 9 -0.34
1999 S&P 500 6.61 0.3 20.2 95th %-tile -0.04 9.79 0.27 15.53 -0.48
30.59 Return 31 4.24 27.1 Qtr -0.47 30 4.51 13.04 -1.38
26.68 %-tile 10.1 3.71 74.4 2.08 0.0208 4.76 9.92 4.41 11.24 4.18
1/3/1900 Universe 13 10 Yr Returns in Down Markets 75 6 Yr 29 3 Yr 10.32 Incept Incept
1998 5th %-tile 15.53 # of Negative Qtrs Fund 3.94 0.0394 # of Negative Qtrs 14.58 # of Negative Qtrs 7.31 # of Negative Qtrs
6.61 25th %-tile 7.46 # of Positive Qtrs R1000G 46 # of Positive Qtrs 10.38 # of Positive Qtrs 2005 # of Positive Qtrs
10.1 50th %-tile 3.17   Batting Average Ratio 6.37 Batting Average 7.72 Batting Average 11.29 Batting Average 2002 FUND #REF!
-3.49 75th %-tile -0.89 Worst Qtr 3 Yr 5.1 Worst Qtr 4.83 Worst Qtr 73 Worst Qtr UNIVERSE
1997 95th %-tile -8.95   Best Qtr -11.4 3.27 Best Qtr 2.19 Best Qtr 16.69 Best Qtr POLICY #REF!
35.14 Qtr 27.93 Range -12.6 2.08 Range 2005 Range 23 Range
40.62 5.72 0.0572 Worst 4 Qtrs 3/30/1900 -1.05 Worst 4 Qtrs 20.95 Worst 4 Qtrs 24.1 Worst 4 Qtrs
-5.48 19 Standard Deviation 5 Yr YTD Standard Deviation 35 Standard Deviation 16.12 Standard Deviation
Returns in Up Markets 5.67 0.0567 Beta -20.9 3.97 Beta 17.95 Beta 12.74 Beta
Fund 20 Annualized Alpha -26.6 78 Annualized Alpha 63 Annualized Alpha 11.06 Annualized Alpha
S&P 500 6.59   R-Squared 78.4 6.03 R-Squared 2002 FUND 26.4   R-Squared 7.98 R-Squared
Ratio 5.6 Sharpe Ratio 6 Yr 59 Sharpe Ratio UNIVERSE 21.72 Sharpe Ratio 2004 Sharpe Ratio
3 Yr 5.05   Treynor Ratio -28.3 12.28 Treynor Ratio POLICY 19.25   Treynor Ratio 23.92 Treynor Ratio 2001 FUND #REF!
20.5 3.66 Tracking Error -38.9 10.11 Tracking Error 16.53 Tracking Error 18.34 Tracking Error UNIVERSE
19.6 0.74   Information Ratio 72.7 6.63 Information Ratio 11.14 Information Ratio 14.42 Information Ratio POLICY #REF!
104.2 YTD Fund 3/31/2000 4.5 Fund 2004 Fund 13.02 Fund
5 Yr 13.06 14 Incept 0.01 10 21.5 4 8.08 3
25.1 9 26 -23.8 2005 14 31 8 2003 8  
24.2 10.79 52.5 -35.5 12.44 45.83 18.78 58.33 27.67 27.27 Batting Average
103.8 29 -15.47 67 65 -14.83 54 -3.38 23.98 -1.13
10 Yr 13.68   22.14 11.6 10.88 2001 FUND 28.92   14.26 21.95 9.38
31 10.94 37.61 71 25.71 UNIVERSE 22.49 17.64 19.27 10.51
30.8 10.25   -31.06 25.06 -30.55 POLICY 19.1   7.22 15.84 4.62 2000 FUND #REF!
100.6 7.48 15.29 17.68 13.5 16.07 11.33 2002 6.48  N/A Standard Deviation
9/30/1992 2.85   0.96 13.67 0.69 8.02 0.76 -6.38 0.78   #REF! Beta
Incept 2005 1.12   10.23 1.13 0.0113 2003 5.03 0.0503 -15.42 -1.19 -0.0119 Annualized Alpha #REF!
26.8 14.04 0.92 6.73 0.87 48.25 0.9 -18.95 0.67 R-Squared
26.4 38 0.37 2004 -0.43 34.58 1.29 -20.72 0.95
101.5 12.25 5.94 4.17 -8.38 30.01 19.26 -24.03 7.88
Returns in Down Markets 57 4.32 94 7.48 25.9 4.86 2001 4.02
Fund 22.88   0.18 7.51 0.44 2000 FUND 19.17   0.37 5.47 -1.09
S&P 500 15.79 S&P 500 73 R1000G UNIVERSE 2002 FR2000 -5.14 R1000V Policy
Ratio 12.59   13 18.36 10 POLICY 6.59   3 -13.19 0 1999 FUND #REF!
3 Yr 11.47 27 12.29 14 -1.82 9 -23.01 11  N/A
-3.6 7.61   47.5 10.02 54.17 -7.42 41.67 -27 72.73   #REF!
-5.4 2004 -17.28 7.03 -21.35 -12.12 -5.34 2000 0.09
67.2 13.63 21.13 3.61 15.14 -19.94 14.52 22.25 10.38
5 Yr 39 38.41 2003 36.49 2001 19.86 13.38 10.29
-18 13.87 -26.62 18.73 -45.64 9.26 4.55 8.39 7.05
-24.5 35 15.34 70 18.23 -2.9 14.16 3.08 6.79 Standard Deviation
73.5 19.71   1 25.91 1 1999 FUND -15.03   1 -3.5 1
10 Yr 14.67 0 8 0 N/A -25.09 0 1999 0
-24.8 13.19   1 26.39 1   -41.08   1 28.08 1 1998 FUND #REF!
-26.2 10.23 0.32 23.7 -0.5 2000 0.91 20.54 1.55  N/A
94.7 5.93   4.93 21.45 -9.04 62.14 12.83 15.47 10.55   #REF!
9/30/1992 2003 0 17.27 0 39.49 0 11.7 0
Incept 20.49 Diff 11.31 Diff 30.15 Diff 4.46 Diff
-24.2 73 1 2002 0 19.95 1 1998 3
-25.3 24.4 -1 -17.5 0 9.11 -1 9.83 -3
95.6 25 5 31 -8.34 1999 16.66 6.07 -45.46
29.75 1.81 -22.51 6.52 1998 FUND 50.94 1.96 1.83 -1.22
24.33 1.01 76 -4.26 N/A 31.67 -0.26 -0.8 -1
23.28   -0.8 -9.79 -10.78   21.4   -2.22 -5.82 0.22 #REF!
20.05 -4.44 -16.66 15.09   11.57 2.67 -2.43
14.08   -0.05 -19.49 -4.73 1.61   -2.83 -0.31 #REF!
2002 -0.04 -22.37 -0.31 1998 -0.24 -0.22
-7.86 1.12 -28.93 1.13 -1.61 5.03 -1.19
1 -0.08 2001 -0.13 -9.72 -0.1 -0.33
-20.49 0.05 -30.55 0.07 -16.12 0.38 -0.6
60 1.01 45 0.66 -20.15 6.43 -2.67
-10.38 4.32 -45.64 7.48 -27.66 4.86 4.02
-17.12 Incept Incept 100 Incept Incept Incept
-19.82   # of Negative Qtrs -25.35 # of Negative Qtrs   # of Negative Qtrs  
-21.16 # of Positive Qtrs -28.09 # of Positive Qtrs # of Positive Qtrs
-25.68   Batting Average -31.08 Batting Average   Batting Average  
2001 Worst Qtr -33.4 Worst Qtr Worst Qtr
-31.06 Best Qtr -36.39 Best Qtr Best Qtr
84 Range 2000 Range Range
-26.62 Worst 4 Qtrs 33.35 Worst 4 Qtrs Worst 4 Qtrs
52 Standard Deviation 16.1 Standard Deviation Standard Deviation
-12.56 Beta 12.97 Beta Beta
-20.73 Annualized Alpha 12.4 Annualized Alpha Annualized Alpha
-26.57 R-Squared 6.57 R-Squared R-Squared
-28.89 Sharpe Ratio 1999 Sharpe Ratio Sharpe Ratio
-35.02 Treynor Ratio 38.73 Treynor Ratio Treynor Ratio
2000 Tracking Error 29.66 Tracking Error Tracking Error
16.14 Information Ratio 25.66 Information Ratio Information Ratio
30 Fund Fund 20.21 Fund Fund Fund
13.28 15 17.15 11 4
46   41 1998 15 10
27.56 Batting Average 50 19.21 Batting Average 50 50
17 -15.47 10.55 -14.83 -3.38
13.02 22.14 6.09 10.88 14.26
9.15 37.61 3.51 25.71 17.64
1.34 -31.06 0.04 -30.55 7.22
1999 Standard Deviation 13.81 Standard Deviation 13.46 11.05
30.59 Beta 0.96 Beta 0.67 0.68
19 Annualized Alpha 1.06 0.0106 Annualized Alpha 1.96 0.0196 4.24 0.0424 0.000424
26.68 R-Squared 0.91 R-Squared 0.86 0.86
41 0.55 -0.41 1.62
36.18 7.95 -8.3 26.28
28.77 4.2 7.97 6.35
24.51 0.16 0.56 -0.45
16.71 Policy S&P 500 Policy R1000G FR2000
9.03 14 12 3
1998 42 14 11
6.61 50 50 50
31 -17.28 -21.35 -5.34
10.1 21.13 15.14 23.42
13 38.41 36.49 28.76
15.53 -26.62 -45.64 4.55
7.46 Standard Deviation 13.68 Standard Deviation 18.75 15.03
3.17 1 1 1
-0.89 0 0 0
-8.95 1 1 1
0.51 -0.53 1.38
6.96 -10 20.74
0 0 0
Diff Diff Diff
1 -1 1
-1 1 -1
0 0 0
1.81 6.52 1.96
1.01 -4.26 -9.16
-0.8 -10.78 -11.12
-4.44 15.09 2.67
0.13 -5.29 -3.98
-0.04 -0.33 -0.32
1.06 1.96 4.24
-0.09 -0.14 -0.14
0.04 0.12 0.24
0.99 1.7 5.54
4.2 7.97 6.35
-0.09
0.02
0.64
4.32