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 Incept
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, 2004 Calendar Year Returns Batting Average Returns are gross of fees. Incept is March 31, 2000 to December 31, 2004 Calendar Year Returns Batting Average Returns are gross of fees. Incept is March 31, 2003 to December 31, 2004 Calendar Year Returns Batting Average Returns are gross of fees. Incept is December 31, 2003 to December 31, 2004 Calendar Year Returns Batting Average
Account Reconciliation Trailing Returns through December 31, 2004 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 2004 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 2004 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 2004 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 -30.00% Range Net Flows 75-95th %tile Fund S&P500 -40.00% Range Net Flows 75-95th %tile Fund FR2000 -40.00% Range Net Flows 75-95th %tile Fund R1000V -30.00% Range
Investment G/L -10.00% -20.00% Worst 4 Qtrs Investment G/L -15.00% -30.00% Worst 4 Qtrs Investment G/L 5.00% -30.00% Worst 4 Qtrs Investment G/L 5.00% -20.00% Worst 4 Qtrs
Ending Value -5.00% -10.00% Standard Deviation Ending Value -10.00% -20.00% Standard Deviation Ending Value 10.00% -20.00% Standard Deviation Ending Value 10.00% -10.00% Standard Deviation
12/31/2004 0.00% 0.00% Beta 12/31/2004 -5.00% -10.00% Beta 12/31/2004 15.00% -10.00% Beta 12/31/2004 15.00% 0.00% Beta
Qtr 5.00% 10.00% Annualized Alpha Qtr 0.00% 0.00% Annualized Alpha Qtr 20.00% 0.00% Annualized Alpha Qtr 20.00% 10.00% Annualized Alpha
57,066 10.00% 20.00% R-Squared 18,899 5.00% 10.00% R-Squared 6,929 25.00% 10.00% R-Squared 10,442 25.00% 20.00% R-Squared
2,866 15.00% 30.00% Sharpe Ratio -19 10.00% 20.00% Sharpe Ratio -14 30.00% 20.00% Sharpe Ratio -15 30.00% 30.00% Sharpe Ratio
4,498 20.00% 40.00% Treynor Ratio 2,080 15.00% 30.00% Treynor Ratio 995 35.00% 30.00% Treynor Ratio 994 Qtr YTD Incept 40.00% Treynor Ratio
64,430 25.00% 50.00% Tracking Error 20,960 20.00% 40.00% Tracking Error 7,910 40.00% 40.00% Tracking Error 11,421 Trailing Returns through December 31, 2004 50.00% Tracking Error
2004 30.00% 60.00% Information Ratio 2004 25.00% 50.00% Information Ratio 2004 45.00% 50.00% Information Ratio 2004 Fund Qtr YTD 2003 2002 2001 2000 1999 1998 1997 1996 Information Ratio
YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr Qtr YTD 2003 2002 2001 2000 1999 1998 1997 1996 Fund YTD 30.00% 60.00% Fund YTD 50.00% 60.00% Fund Fund YTD Return Calendar Year Returns Fund
65,370 Trailing Returns through December 31, 2004 Calendar Year Returns 4 18,651 35.00% 70.00% 3 6,517 55.00% 70.00% 1 7,800 %-tile Fund 2
-6,284 Fund Fund 8 949 2 Qtrs Qtr YTD 2003 2002 2001 2000 1999 1998 1997 1996 5 -56 Qtr YTD 1 Yr Incept Qtr YTD 2003 2002 2001 2000 1999 1998 1997 1996 3 2,474 R1000V Return 2
5,343 Return Return 50 1,359 3 Qtrs Calendar Year Returns 37.5 1,449 Trailing Returns through December 31, 2004 Calendar Year Returns Batting Average 75 1,148 Return %-tile 25
64,430 %-tile %-tile -14.76 20,960 1 Yr Fund -4.92 7,910 Fund Fund -1.39 11,421 %-tile R1000V -0.99
9/30/1992 S&P 500 S&P 500 12.92 3/31/2000 2 Yr Return 11.01 3/31/2003 Return Return 14.37 12/31/2003 Universe Return 9.53
Incept Return Return 27.68 Incept 3 Yr %-tile 15.93 Incept %-tile %-tile 15.76 Incept 5th %-tile %-tile 10.52
  18,638 %-tile %-tile -19.42 10,795 4 Yr S&P500 4.69 4,822 FR2000 FR2000 22.36 7,800 25th %-tile Universe 11.97  
-19,376 Universe Universe 13.06 12,594 5 Yr Return 9.06 -89 Return Return Standard Deviation 9.83 2,474 50th %-tile 5th %-tile 7.28
65,168 5th %-tile 5th %-tile 0.85 -2,429 6 Yr %-tile 0.9 3,177 %-tile %-tile Beta 0.64 1,148 75th %-tile 25th %-tile BETA 0.96
64,430  64,430,000  25th %-tile  25th %-tile 2.55 20,960  20,960,000 7 Yr Universe -2.63 7,910    7,910,000 Universe Universe Annualized Alpha 9.68 0.0968 11,421           11,421,000 95th %-tile 50th %-tile ALPHA -3.33 -0.0333 #REF!
Investment Policy 50th %-tile 50th %-tile 0.94 Investment Policy 8 Yr 5th %-tile 0.88 Investment Policy 5th %-tile 5th %-tile R-Squared 0.84 Investment Policy Qtr 75th %-tile 0.81
Index 75th %-tile 75th %-tile 0.34 Index Trailing Returns through December 31, 2004 QU. FUND 25th %-tile #VALUE! 1.45 Index 25th %-tile 25th %-tile 2.15 Index 9.53 0.0953 95th %-tile 1.47
S&P 500 95th %-tile 95th %-tile 5.21 S&P 500 Fund UNIVERSE 50th %-tile 14.63 Russell 2000 50th %-tile 50th %-tile 33 Russell 1000 Value 27 Qtr 11.18
Total 1 Yr Qtr 3.91 Total Return POLICY 75th %-tile #VALUE! 3.28 Total 75th %-tile 75th %-tile 6.33 Total 10.38 0.1038 9.53 3.15
Weight 9.15 0.0915 QU. FUND 7.64 0.0764 0.56 Weight %-tile 95th %-tile -1.56 Weight 95th %-tile 95th %-tile   0.64 Weight 16 27 -1.43
100 71 UNIVERSE 94 S&P 100 S&P500 Qtr S&P500 100 Qtr Qtr. FUND Qtr Policy FR2000 100 11.63 10.38 R1000V
100 10.88 0.1088 POLICY 9.23 0.0923 500 100 Return 11.01 0.1101 2 100 14.37 UNIVERSE 14.37 0.1437 1 100 9.64 16 0
Trailing Returns through December 31, 2004 1 Yr FUND 38 50 4 Trailing Returns through December 31, 2004 %-tile 23 6 Trailing Returns through December 31, 2004 22 POLICY 22 3 Trailing Returns through December 31, 2004 9.1 11.63 4
Fund UNIVERSE 15.79 12.2 8 Fund Universe 9.23 0.0923 62.5 Fund 14.09 14.09 0.1409 25 Fund 8.37 9.64 75
S&P 500 POLICY 11.97 10.21 50 S&P500 5th %-tile 70 -3.15 FR2000 27 27 -2.86 R1000V 6.82 9.1 0.88
Diff 10.46 9.22 -17.28 Diff 25th %-tile 14.01 15.39 Diff 16.09 16.09 14.09 Diff YTD 8.37 10.38
1 Yr 8.33 8.86   15.39 1 Yr 50th %-tile 10.91 18.54 1 Yr 14.13 14.13   16.95 1 Yr 11.97 0.1197 6.82 9.5 1 Yr FUND #REF!
9.15 5.06 7.45 32.67 1/6/1900 75th %-tile 9.84 10.88 1/22/1900 13.04 13.04 18.33 1/11/1900 42 YTD 16.49 UNIVERSE
10.88 2 Yr YTD   -24.76 10.88 95th %-tile 8.83 9.43 18.33 11.56 11.56   Standard Deviation 13.98 16.49 16.49 0.1649 11.97 6.84 POLICY #REF!
-1.73 18.74 9.15 14.86 -4.21 2 Qtrs 7.52 1 4.03 9.51 9.51 1 -4.52 13 42 1
2 Yr 56 71 1 2 Yr 5.56 YTD 0 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr YTD YTD 0 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 20.01 16.49 0
18.74 19.45 10.88 0 1/14/1900 42 6.67 1 3/31/2003 22.36 22.36 1 12/31/2003 13.83 13 1
19.45 38 38 1 19.45 7.19 60 1.94 Incept 15 15 1.22 Incept 10.91 20.01 2.23
-0.71 24.28 15.79 0.15 -5.12 23 10.88 18.29 33.74 18.33 18.33 17.09 11.97 10.2 13.83 15.25
3 Yr 20.57 11.97 2.25 3 Yr 9.61 20 0 41 40 40 0 16.49 6.91 10.91 0
1/5/1900 18.96 10.46 0 2.03 7.02 15.53 Diff -7.26 INCEPTION 25.34 25.34 Diff -4.52 Incept 10.2 Diff
Incept ROR 3.59 16.56 8.33 Diff   1/3/1900 4.93 2002 FUND 10.23 0.1023 1 Calendar Year Returns UNIVERSE 20.6 20.6 0 Calendar Year Returns 11.97 6.91 2     
Fund 2.18 13.62 5.06 0   -1.56 3.36 UNIVERSE 7.31 -1 Fund POLICY 16.62 16.62 0 Fund 42 2003 -2     
Policy 4 Yr 3 Yr 2003 0   4 Yr 0.92 POLICY 4.74 0.0474 -25 FR2000 13.62 13.62 50 R1000V 16.49 32.31 -50    
1.92 5.77 0.0577 2002 FUND 29.18 0.2918 0 ############################## 3 Qtrs 1.66 -1.77 Diff 8.17 8.17 1.47 Diff 13 28.49 -1.87
-0.52 18 UNIVERSE 29 2.52 ############################## 7.31 2003 -4.38 12/31/2004 1 Yr 2003 0.28 12/31/2004 20.01 27.67 -0.85
2.44 3.59 0.0359 POLICY 28.68 0.2868 -2.47 -1.78 34 22.53 0.2253 -2.61 Qtr 22.36 0.2236 59.11 -1.19 Qtr 13.83 25.15 1.02
5 Yr 3 Yr FUND 39 34 -4.99 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 9.03 85 -6.19 14.37   15 45.79 4.03 9.53 10.91 22.17 -4.52
-1.87 UNIVERSE 8.05 35.07 5.34 3/31/2000 17 28.68 0.2868 -0.37 1/14/1900 18.33 0.1833 40.3 -4.15 1/10/1900 10.2 2002 0.44
-2.30 POLICY 4.78 29.63 -1.8 Incept 11.55 37 -0.1 0.28 40 36.49 -0.36 -0.85 6.91 -11.31 -0.04
0.43 3.26 27.91 -0.15 -4.16 8.17 38.01 -2.63 2004 25.34 29.24 9.68 2004 -16.33 -3.33
6 Yr 1.65 25.2   2.55 -2.88 6.28 2001 FUND 30.97 -0.12 YTD 3 Yr FUND 20.6 2002   -0.16 YTD -19.88 -0.19 3 Yr FUND #REF!
2.54 -1.42 20.9 -0.06 -1.28 4.29 UNIVERSE 26.77 -0.49 1/22/1900 UNIVERSE 16.62 -4.62 0.93 1/11/1900 -22.33 -0.76  N/A
1.13 4 Yr 2002   0.19 Calendar Year Returns 1 Yr FUND 1.53 POLICY 24.36 -3.66 18.33 POLICY 13.62 -12.79   15.91 16.49 -25.04 -4.07   #REF!
1.41 1.92 2001 FUND -16.08 -0.1608 2.96 Fund UNIVERSE 1 Yr 20.43 3.28 4.03 8.17 -17 6.33 -4.52 2001 3.15
7 Yr 18 UNIVERSE 8 3.91 S&P500 POLICY 6.67 0.0667 2002 3 Yr 2003 2002 2001 2000 1999 1998 1997 1996 1995 Incept -22.21 Incept 2003 2002 2001 2000 1999 1998 1997 1996 1995 5.61
5.65 -0.52 POLICY -22.1 -0.221 5 Yr 5 Yr Diff 60 -18.73 -0.1873 # of Negative Qtrs Returns in Up Markets 33.74 -30.29 # of Negative Qtrs Returns in Up Markets -3.21
1/4/1900 42 47 # of Negative Qtrs 12/31/2004 10.88 0.1088 9 # of Positive Qtrs Fund 74 2001 # of Positive Qtrs Fund -8.64
0.87 5.2 -15.02 # of Positive Qtrs Qtr 20 -22.1 -0.221 Batting Average FR2000 41 28.96 Batting Average R1000V -12.12
8 Yr 0.76 -19.91 Batting Average 11.01 15.53 19 Worst Qtr Ratio 21 15.1 Worst Qtr Ratio -14.21
1/8/1900   -0.76 -22.25 Worst Qtr 1/9/1900 10.23 -15.91 Best Qtr 1 Yr 47.82 6 Best Qtr 12/31/2003 2000
8   -2.07 -23.64 Best Qtr 1.78 7.31 2000 FUND -23 Range 1/24/1900 40.17 -2.67 Range Incept 20.68
0.7 -5.67 -26.8 Range 2004 4.74 UNIVERSE -25.5 Worst 4 Qtrs 21.8 37.27 -14.89 Worst 4 Qtrs 12 9.66
9 Yr 5 Yr 2001 Worst 4 Qtrs YTD 1.66 N/A -28.94 Standard Deviation 110.5 33.56 2000 Standard Deviation 16.5 0.81 5 Yr FUND
9.95 -1.87 -0.0187 2000 FUND -8.82 -0.0882 Standard Deviation 1/6/1900 2 Yr -32.42 Beta 3/31/2003 26.71 32.63 Beta 3/12/1900 -9.06  N/A
9.64 42 UNIVERSE 26 Beta 10.88 14.33 2001 Annualized Alpha Incept 20.08 Annualized Alpha Returns in Down Markets -9.96  
0.31 -2.3 -0.023 POLICY -11.88 -0.1188 Annualized Alpha -4.21 83 -14.21 -0.1421 R-Squared 41.7 11.34 R-Squared Fund 1999
10 Yr 5 Yr FUND 49 48 R-Squared 2003 19.45 18 Sharpe Ratio 52.2 2.49 Sharpe Ratio R1000V 22.9
11.6 UNIVERSE 5.67 0.69 Sharpe Ratio 22.53 28 -11.88 -0.1188 Treynor Ratio 79.9 -14.08 Treynor Ratio Ratio 20.37
1/12/1900 POLICY 0.26 -8.82 Treynor Ratio 1/28/1900   26.08 2 Tracking Error Returns in Down Markets 1999 Tracking Error 12/31/2003 14.99
-0.54 -2.41 -12.07 Tracking Error -6.15 19.74   -12.27 Information Ratio Fund 49.45 Information Ratio Incept 3.15
9/30/1992 -3.65 -13.76   Information Ratio 2002 17.05 -15.3 Fund FR2000 5 Yr FUND 29.79   Fund -5.6 #REF!
Incept -6.82 -19.6 Fund Fund -18.73 15.13 -19.4 5 Ratio N/A 15.79 1 1998
11.62 6 Yr 2000   9 -22.1 3 Yr FUND 12.72 -22.65 7 1 Yr   5.54   6 30.24 #REF!
11.3 2.54 1999 FUND -15.65 -0.1565 11 3.37 UNIVERSE 3 Yr -26.27 50 ################################# -3.68 42.86 28.06
0.32 31 UNIVERSE 96 Batting Average 50 2001 POLICY 2.03 0.0203 2000 -14.71 -2.9 1998 -1.39 19.31
Calendar Year Returns 1.13 POLICY -9.11 -0.0911 -15.47 -14.21 32 -0.8 11.01 48.6 18.23 14.47 11.45
Fund 50 65 14.77 ############################## 3.59 0.0359 -7.05 25.72 3/31/2003 4.91 15.86 4.41
S&P 500 7.61 15.56 30.24 -2.33 19 -11.72 -21.93 Incept 0.03 22.36 1997
Diff 3.23 0.06 -31.06 2000 1999 1998 1997 1996 1995 7.11 -16.14 13.02 -1.4 -6.16 9.5 38.51
12/31/2004 1.09 -6.88 Standard Deviation 16.05 Returns in Up Markets 2.7 -22.27 0.85 -2.9 -12.27 Beta 0.56 32.94
Qtr 0.14 -9.62 Beta 0.95   Fund 0.13 1999 -1.06   48.6 1997 Alpha 10.24 0.1024   30.77  
7.64 -2.58 -15.34 Annualized Alpha 0.37 0.0037 S&P500 -1.84 56.01 0.93 37.13 0.78 26.72
9.23 7 Yr 1999 R-Squared 0.92 Ratio -3.53   40.12 0.05 31.48 3.43 22.19
-1.59 5.65 1998 FUND 27.75 0.2775 -0.29 2 Yr 4 Yr 32.43 0.81 25.91 58.2 1996
2004 21 UNIVERSE 18 -4.91 25 -2.3 26.37 4.13 20.09 7.99 28.7
YTD 4.78 POLICY 20.14 0.2014 4.71 31.1 24 19.99 -0.38 13.07 -0.91 23.06
9.15 35 53 0.09 80.4 -0.52 1998 S&P500 1996 FR2000 21.86
10.88 8.94 40.15 Policy S&P 3 Yr 12 49.36 4 34.75 1 19.07
-1.73 5.26 24.24 500 23.2 5 Yr FUND 1.24 37.1 8 25.3 6 14.29
2003 4.45 20.43 9 27.8 N/A -2.53 31.26 50 20.84 57.14
29.18 3.24 15.61 11 83.6 -5.05 26.52 -17.28 17.4 -2.86
28.68 0.97 5.6 50 4 Yr -6.95 16.34 15.39 10.54 23.42
1/0/1900 8 Yr 1998 -17.28 24.9 -9.23 1997 32.67 26.28
2002 8.7 26.36 15.39 29.6 5 Yr 36.92 -24.76 18.33
-16.08 19 45 32.67 83.9   2.13 32.06 14.86 14.98
################################### 8 29.62 -26.62 3/31/2000 -3.86 28.41 1   1
1/6/1900 27 19 Standard Deviation 16.21 Incept -6.44 23.82 0 0
2001 10.8 35.85 1 24.9 -8.43 17.55 1   1
-8.82 8.04 28.5 0 29.6 -10.8 1996 0.15 2.66
-11.88 7.37 25.14 1 83.9 6 Yr 31.41 2.25 39.85 QU. FUND #REF!
3.06 5.97 17.48 -0.31 Returns in Down Markets 8.41 23.23 0 0 UNIVERSE
2000 3.35 7.55 -5.09 Fund 2.28 20.57 Diff Diff POLICY #REF!
-15.65 9 Yr 1997 0 S&P500 -0.75 17.81 1 0
-9.11 9.95 32.63 Diff Ratio -2.38 11.91 -1 0
-6.54 21 29 0 2 Yr -4.51 0 -14.28
1999 9.64 33.5 0 -6.5 7 Yr 2.57 1.47
27.75 24 18 0 -5 9.87 -4.38 -8.95
20.14 12.23 36.26   1.81 130.6 5.47 -6.95 QU. FUND   -10.42
7.61 9.53 32.81 -0.62 3 Yr 3.49 2.83 UNIVERSE 4.03
1998 8.78 30.27   -2.43 -30 1.72 -1.84 POLICY   -5.48
26.36 7.47 25.81 -4.44 -31.9 -0.25 -0.15 -0.44
29.62 5.01 15.95 -0.16 94.1 8 Yr -1.06 10.24
-3.26 10 Yr 1996 -0.05 4 Yr 12.56 -0.07 -0.22
1997 11.6 20.54 0.37 -35.1 7.89 -0.1 0.77
32.63 37 61 -0.08 -36 6.15 -1.44 18.35
33.5 12.14 23.66 0.02 97.4 4.64 4.13 7.99
################################### 20 23 0.18 3/31/2000 2.32 4 Yr Incept
1996 14.39 28.82 4.71 Incept # of Negative Qtrs
20.54 11.87 23.34 10 Yr -28.6 # of Positive Qtrs
23.66 11.03 21.69   # of Negative Qtrs -29.5 Batting Average 2002 FUND #REF!
-3.12 9.64 18.67 # of Positive Qtrs 96.7 Worst Qtr UNIVERSE
1995 7.2 13.52   Batting Average Best Qtr POLICY #REF!
27.6 6.82 Worst Qtr Range
37.44 8.4 Best Qtr Worst 4 Qtrs
-9.84 6.23 Range Standard Deviation
Returns in Up Markets Worst 4 Qtrs Beta
Fund Standard Deviation Annualized Alpha
S&P 500   Beta R-Squared 2002 FUND  
Ratio Annualized Alpha Sharpe Ratio UNIVERSE
3 Yr   R-Squared Treynor Ratio POLICY   2001 FUND #REF!
25.1 Sharpe Ratio Tracking Error UNIVERSE
27.8   Treynor Ratio Information Ratio POLICY #REF!
90.4 Tracking Error Fund
5 Yr Information Ratio 7
27.5 Fund 9  
27.6 11 50 Batting Average
99.4 29 -14.71
10 Yr   45 11.01 2001 FUND  
31.9 -15.47 25.72 UNIVERSE
33.5   22.14 -21.93 POLICY   2000 FUND #REF!
95 37.61 14.37  N/A Standard Deviation
9/30/1992   -31.06 0.86   #REF! Beta
Incept 15.44   -1.95 Annualized Alpha #REF!
28.2 0.96 0.94 R-Squared
28.2 0.06 -0.3
100.1 0.92 -5.02
Returns in Down Markets 0.49 4.26
Fund   7.93 -0.42 2000 FUND  
S&P 500 4.45 S&P500 UNIVERSE Policy
Ratio   -0.12 6 POLICY   1999 FUND #REF!
3 Yr S&P 10  N/A
-24.4   500 50   #REF!
-31.9 11 -17.28
76.4 29 15.39
5 Yr 55 32.67
-28.7 -17.28 -24.76
-29.5 21.13 16.12 Standard Deviation
97.3   38.41 1 1999 FUND  
10 Yr -26.62 0 N/A
-28.1   15.46 1     1998 FUND #REF!
-29.2 1 -0.16  N/A
96.3   0 -2.54   #REF!
9/30/1992 1 0
Incept 0.53 Diff
-27.2 8.15 1
-27.9 0 -1
97.2 Diff 0
0 2.57 1998 FUND
0 -4.38 N/A
  -10 -6.95     #REF!
1.81 2.83  
  1.01 -1.75   #REF!
-0.8 -0.14
-4.44 -1.95
-0.02 -0.06
-0.04 -0.14
0.06 -2.48
-0.08 4.26
Incept -0.04 Incept Incept
  -0.22 # of Negative Qtrs    
4.45 # of Positive Qtrs
  Incept Batting Average    
# of Negative Qtrs Worst Qtr
# of Positive Qtrs Best Qtr
Batting Average Range
Worst Qtr Worst 4 Qtrs
Best Qtr Standard Deviation
Range Beta
Worst 4 Qtrs Annualized Alpha
Standard Deviation R-Squared
Beta Sharpe Ratio
Annualized Alpha Treynor Ratio
R-Squared Tracking Error
Sharpe Ratio Information Ratio
Fund Treynor Ratio Fund Fund
Tracking Error 9
  Information Ratio 10
Batting Average Fund Batting Average 52.63
12 -14.71
37 11.01
48.98 25.72
-15.47 -30.23
Standard Deviation 22.14 Standard Deviation 14.91
Beta 37.61 Beta 0.9
Annualized Alpha -31.06 -0.3106 Annualized Alpha -1.61 -0.0161 0 0
R-Squared 14.46 R-Squared 0.91
0.96 -0.46
0.77 -7.58
0.91 4.77
0.53 -0.27
Policy 8.02 Policy S&P500
4.32 9
0.07 10
S&P 47.37
500 -17.28
12 15.39
37 32.67
51.02 -26.62
Standard Deviation -17.28 Standard Deviation 15.82
21.13 1
38.41 0
-26.62 1
14.38 -0.35
1 -5.54
0 0
1 Diff
0.51 0
7.38 0
0 5.26
Diff 2.57
0 -4.38
0 -6.95
-2.04 -3.61
1.81 -0.91
1.01 -0.1
-0.8 -1.61
-4.44 -0.09
0.08 -0.11
-0.04 -2.04
0.77 4.77
-0.09
0.02
0.64
4.32