HOLLYWOOD POLICE PDF
LOCK INVERNESS EQUITY EXECUTIVE HERE LOCK LOCK INVERNESS EQ. UNIVERSE HERE(p1) N/A LOCK LOCK INVERNESS EQUITY RISK HERE LOCK LOCK DHJ EQUITY EXECUTIVE HERE LOCK LOCK DHJ EQUITY EXECUTIVE HERE(p1) N/A LOCK LOCK DHJ EQUITY RISK HERE LOCK EAGLE SMALL CAP EXECUTIVE HERE LOCK LOCK EAGLE SMALL CAP UNIVERSE HERE(P1) N/A LOCK LOCK EAGLE SMALL CAP RISK HERE LOCK LOCK BUCKHEAD TOTAL EQ EXECUTIVE HERE LOCK LOCK BUCKHEAD TOTAL EQ UNIVERSE HERE(P1) N/A 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 December 31, 2006 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2000 to December 31, 2006 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2003 to December 31, 2006 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is December 31, 2003 to December 31, 2006 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through December 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through December 31, 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
12/31/2006 Return -10.00% Beta 12/31/2006 Return 0.00% Beta 12/31/2006 Return 25.00% Beta 12/31/2006 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
67,953 Universe 10.00% R-Squared 23,273 Universe 50.00% R-Squared 9,215 Universe 75.00% R-Squared 13,593 Universe 20.00% R-Squared
1,768 5th %-tile 20.00% Sharpe Ratio -2 5th %-tile 75.00% Sharpe Ratio 4 5th %-tile 100.00% Sharpe Ratio -1 5th %-tile 30.00% Sharpe Ratio
3,444 25th %-tile 30.00% Treynor Ratio 671 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 907 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 920 25th %-tile 40.00% Treynor Ratio
73,165 50th %-tile 40.00% Tracking Error 23,942 50th %-tile Fiscal Year Returns Ending September Tracking Error 10,126 50th %-tile Fiscal Year Returns Ending September Tracking Error 14,512 50th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Tracking Error
2007 75th %-tile 50.00% Information Ratio 2007 75th %-tile Fund Information Ratio 2007 75th %-tile Fund Information Ratio 2007 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
67,953 1 Yr Fiscal Year Returns Ending September 4 23,273 2 Qtrs %-tile 4 9,215 2 Qtrs %-tile 2 13,593 2 Qtrs Return 1
1,768 16.39 0.1639 Fund 8 -2 5.03 R1000G 8 4 9.51 FR2000 2 -1 12.03 %-tile 3
3,444 28   Return 41.67 671 76 Return 41.67 907 22 Return Batting Average 50 920 78 R1000V 0
73,165 15.8 0.158 %-tile -1.92 23,942 10.1 %-tile -5.04 10,126 9.38 %-tile -2.78 14,512 14.72 Return -0.62
9/30/1992 34 S&P 500 7.64 3/31/2000 36 Universe 10.88 3/31/2003 24 Universe 11.93 12/31/2003 12 %-tile 6.77
Incept 21.03 Return 9.56 Incept 12.52 5th %-tile 15.92 Incept 12.06 5th %-tile 14.71 Incept 15.44 Universe 7.39
  18,638 16.81 %-tile 5.29 10,795 10.88 25th %-tile 3.43 4,822 9.32 25th %-tile 19.16 7,800 13.91 5th %-tile 15.91  
-25,589 15.4 Universe 7.47 14,083 8.38 50th %-tile 8.16 16 7.5 50th %-tile Standard Deviation 10.67 3,107 12.75 25th %-tile 5.22
80,116 12.43 5th %-tile 1 -935 5.12 75th %-tile 0.94 5,288 5.32 75th %-tile Beta 0.8 3,606 12.35 50th %-tile BETA 0.73
73,165  73,165,000                                                       5 25th %-tile 0.63 23,942  23,942,000 2.71 95th %-tile -1.55 10,126  10,126,000 2.03 95th %-tile Annualized Alpha 3.99 0.0399 14,512           14,512,000 9.54 75th %-tile ALPHA 0.09 0.0009 #REF!
Investment Policy 2 Yr 50th %-tile 0.84 Investment Policy 3 Qtrs Qtr 0.92 Investment Policy 3 Qtrs Qtr R-Squared 0.96 Investment Policy 3 Qtrs 95th %-tile 0.58
Index 12.1 75th %-tile 1.09 Index 1.05 QU. FUND -3.66 -0.0366 0.22 Index 6.46 QU. FUND -2.59 -0.0259 1.35 Index 11.33 Qtr 2.14
S&P 500 19 95th %-tile 8.12 Russell 1000 Growth 68 UNIVERSE 39   1.94 Russell 2000 14 UNIVERSE 12   18 Russell 1000 Value 58 -0.49 -0.0049 15.27
Total 10.22 Qtr 3 Total 5.8 POLICY -3.9 -0.039 2.35 Total 3.89 POLICY -5.02 -0.0502 3.33 Total 15.4 36   3.69
Weight 49 -1.55 -0.0155 0.22 Weight 38 46 -0.88 Weight 34 54 0.24 Weight 10 0.59 0.0059 -1.72
100 1 Yr FUND 14.16 QU. FUND 41   S&P 500 100 11.45 -1.39 R1000G 100 8.41 -1.91 Policy FR2000 100 16.27 13 R1000V
100 UNIVERSE 11.43 UNIVERSE -1.44 -0.0144 3 100 8.05 -3.05 3 100 4.6 -3.39 1 100 14.22 1.73 0
Trailing Returns through December 31, 2006 POLICY 10.15 POLICY 30 9 Trailing Returns through December 31, 2006 4.6 -4.08   9 Trailing Returns through December 31, 2006 2.06 -4.84   3 Trailing Returns through December 31, 2006 12.05 -0.06 4
Fund 8.86 0.64 58.33 Fund 0.25 -5.16 58.33 Fund -0.94 -6.35 50 Fund 10.97 -1.29 100
S&P 500 5.41 -1.19 -2.15 R1000G -3.69 -6.87   -5.23 FR2000 -4.81 -9.22   -5.02 R1000V 7.85 -1.6 0.59
Diff 3 Yr -1.85 9.23 Diff 1 Yr YTD 9.17 Diff 1 Yr YTD 13.93 Diff 1 Yr -3.2   8
1 Yr 11.11 0.1111 -3.28   11.38 1 Yr 3.75 0.0375 2.22 14.4 1 Yr 19.16 0.1916 10.76 18.95 1 Yr 15.91 0.1591 YTD 7.41 1 Yr FUND #REF!
16.39 37   -5.66 4.91 1/3/1900 70 64 1.16 1/19/1900 13 20 18.36 1/15/1900 64   6.81   22.25 UNIVERSE
15.8 10.44 0.1044 YTD   6.82 9.07 9.07 0.0907 2.02 8.31 18.36 18.36 0.1836 9.44 Standard Deviation 13.03 22.25 22.25 0.2225 24 5.43 POLICY #REF!
0.59 49 6.94 1 -5.32 39 67 1 0.8 18 28 1 -6.34 9 7.91 1
2 Yr 14.36 16 0 2 Yr 16.74 8.65 0 2 Yr 21.91 13.84 0 2 Yr 23.22 13 0
12.1 11.84 4.85 1 1/4/1900 12.01 5.33 1 1/13/1900 16.61 9.78 1 1/10/1900 19.8 9.32 1
10.22 10.34 42 1.09 7.15 7.79 2.98 0.47 11.25 14.29 7.83 1.04 14.4 17.17 6.74 3.22
1.88 9.11 8.45 7.45 -3 2.9 1.38 3.88 1.78 11.21 5.58 13.6 -4.28 15.59 4.82 17.49
3 Yr 5.82 5.82 0 3 Yr -3.49 -1.66 0 3 Yr 4.82 1.51 0 3 Yr 11.15   4.38 0
1/11/1900 4 Yr 4.67 Diff 4.81 2 Yr 2005   Diff 1/15/1900 INCEPTION 2 Yr 2005   Diff 1/10/1900 2 Yr 1.98 Diff
Incept ROR 10.44 15.38 3.13 1   1/6/1900 4.15 2004 FUND 13.12 0.1312 1 1/13/1900 UNIVERSE 13.03 2004 FUND 21.9 0.219 1 1/15/1900 10.12 0.1012 2005 1     
Fund 0.67 34 0.06 -1   -2.06 81 UNIVERSE 55   -1 2.2 POLICY 20 UNIVERSE 23   -1 -4.52 77 11.9 0.119 -1     
Policy 4 Yr 14.74 2005 -16.66   4 Yr 7.15 POLICY 11.6 0.116 -16.66 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11.25 POLICY 17.95 0.1795 0 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 14.4 0.144 62   -100    
15.38 45 14.04   0.23 1/8/1900 47 71 0.19 3/31/2003 45 63 2.24 12/31/2003 11 16.69 0.1669 -1.21
14.74 3 Yr FUND 18.2 2004 FUND 38 -1.59 1/12/1900 1 Yr FUND 10.84 25.77 1.71 Incept 15.68 26.4 -2 Incept 15.62 23 -1.23
0.64 UNIVERSE 15.89 UNIVERSE 12.25 -1.82 -3.33 UNIVERSE 8.49 18.07 1.52 21.83 12.64 21.72 -4.24 10.57 12.81 24.1 -0.02
5 Yr POLICY 14.51 POLICY 57 0.38 5 Yr POLICY 6.98 13.56   2.27 24.26   10.8 19.25   0.8 15.09 11.41 16.12 -6.34
8.26 13.31 22.88 0.65 1/2/1900 5.13 11.02 -0.15 ################################# 8.68 16.53 -2.36 ################################# 10.15 12.74   -0.21
6.19 10.12 15.79 0 2.69 -0.85 7.76   -0.06 Fiscal Year Returns Ending September 4.97 11.14   -0.2 Fiscal Year Returns Ending September 7.87 11.06 -0.27
2.07 5 Yr   12.59 0.63 -0.12 3 Yr 2004   -1.55 Fund 3 Yr 2004   3.99 Fund 3 Yr 7.98   0.09
6 Yr 8.26 0.0826 11.47 -0.16 6 Yr 4.81 0.0481 2003 FUND 4.69 0.0469 -0.08 FR2000 3 Yr FUND 15.76 0.1576 2003 FUND 22.46 0.2246 -0.04 R1000V 10.57 0.1057 2004   -0.42 3 Yr FUND #REF!
5.2 24   7.61 0 -0.52 81 UNIVERSE 87   -0.25 Diff UNIVERSE 17 UNIVERSE 26   0.31 Diff 69 23.92 0.2392 -1.08  N/A
2.94 6.19 0.0619 2004 0.67 ############################## 6.87 0.0687 POLICY 7.51 0.0751 -1.94 12/31/2006 POLICY 13.56 0.1356 POLICY 18.78 0.1878 4.4 12/31/2006 15.09 0.1509 18.34   -2.22   #REF!
2.26 49 13.63 3 1.06 49 61 2.35 Qtr 50 54 3.33 Qtr 7 14.42 0.1442 3.69
7 Yr 10.23 2003 FUND 39 5 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11.26 15.25 5 Yr 9.83 17.9 28.92 2 Yr 6.77 15.49 13.02 2 Yr
1.94 7.95 UNIVERSE 13.87 5 Yr # of Negative Qtrs 3/31/2000 8.43   11.67 # of Negative Qtrs 8.9 15.02 22.49 # of Negative Qtrs 8 12.96 8.08 # of Negative Qtrs
1/1/1900 6.1 POLICY 35 # of Positive Qtrs Incept 6.77 8.28 # of Positive Qtrs 1/0/1900 13.51 19.1 # of Positive Qtrs ################################# 11.76 2003 # of Positive Qtrs
0.81   4.88 19.71 Batting Average ############################## 5.4 6.32 Batting Average 6/29/1905 11.09 16.07 Batting Average 6/29/1905 10.34 27.67 Batting Average
8 Yr   1.42 14.67 Worst Qtr -6.01 2.06 2.06 Worst Qtr YTD 6.71 8.02 Worst Qtr YTD 7.62 23.98 Worst Qtr
1/4/1900 6 Yr 13.19 Best Qtr 1/3/1900 4 Yr 2003   Best Qtr 1/9/1900 4 Yr 2003   Best Qtr 1/6/1900 4 Yr 21.95 Best Qtr
3.33 5.2 10.23 Range Fiscal Year Returns Ending September 8.85 2002 FUND 19.31 0.1931 Range 1/8/1900 25.08 2002 FUND 48.25 0.4825 Range 1/8/1900 18.82 19.27   Range
1.52 26 5.93 Worst 4 Qtrs Fund 76 UNIVERSE 63   Worst 4 Qtrs 0.93 21.83 UNIVERSE 34.58   Worst 4 Qtrs -1.23 16.82 15.84 Worst 4 Qtrs
9 Yr 2.94 2003 Standard Deviation R1000G 12.18 POLICY 25.91 0.2591 Standard Deviation 2006 20.17 POLICY 30.01 0.3001 Standard Deviation 2006 15.63 2002   Standard Deviation 5 Yr FUND
7.05 48 20.49 Beta Diff 25 17 Beta 1/9/1900 18.29 25.9 Beta 1/11/1900 14.58 -6.38 Beta  N/A
5.96 5 Yr FUND 7.87 2002 FUND 73 Annualized Alpha 12/31/2006 3 Yr FUND 14.1 30.61 Annualized Alpha 9.92 14.55 19.17 Annualized Alpha 14.62 12.02 -15.42 Annualized Alpha  
1.09 UNIVERSE 5.34 UNIVERSE 24.4 R-Squared Qtr UNIVERSE 12.15 23.77 R-Squared -0.13 5 Yr 2002 R-Squared -2.99 5 Yr -18.95 R-Squared
10 Yr POLICY 2.77 POLICY 25 Sharpe Ratio 2.88 POLICY 10.88 20.39   Sharpe Ratio 2005 16.82 6.59   Sharpe Ratio 2005 11.04 -20.72 Sharpe Ratio
9.37 2.1 29.75 Treynor Ratio 5.93 8.87 18.37 Treynor Ratio 20.95 13.7 -1.82 Treynor Ratio 11.29 9.43 -24.03   Treynor Ratio
1/8/1900 -1.84 24.33 Tracking Error ############################## 7.31 14.19   Tracking Error 1/17/1900 11.82 -7.42   Tracking Error 1/16/1900 7.89 2001 Tracking Error
0.93 7 Yr 23.28 Information Ratio 2007 5 Yr 2002   Information Ratio 3 8.92 -12.12   Information Ratio -5.4 6.11 5.47   Information Ratio
9/30/1992 1.94 20.05 Fund Fund YTD 2.57 0.0257 2001 FUND -17.07 -0.1707 Fund 2004 5 Yr FUND 4.5 2001 FUND -19.94 -0.1994 Fund 2004 2003 2002 2001 2000 1999 1998 4.88 -5.14   Fund #REF!
Incept 40 14.08 7 2.88 54 UNIVERSE 15   7 1/21/1900 N/A 6 Yr UNIVERSE 2001   3 Returns in Up Markets 6 Yr -13.19 -0.27 1
11.68 1.13 2002 13 5.93 2.69 0.0269 POLICY -22.51 -0.2251 13 18.78   17.82 POLICY 9.26 0.0926 5 Fund 9.16 -23.01   7 #REF!
11.15 50 -7.86 Batting Average 50 -3.05 53 63 40 1/2/1900 14.35 -2.9 62.5 R1000V 7.15 -27 0.2225 25
0.53 8.47 2001 FUND 1 -14.76 2006 6.2 -12.11 -14.83 2003 2002 2001 2000 1999 1998 10.8 -15.03 -3.38 Ratio 5.34 2000 -0.62
Fiscal Year Returns Ending September 5.24 UNIVERSE -20.49 12.92 3.97 3.98 -19.07 10.88 Returns in Up Markets 7.11 -25.09 11.93 1 Yr 3.38 22.25 6.77
Fund 1.09 POLICY 60 27.68 1/6/1900 2.88 -21.45 25.71 Fund 1.45 -41.08 15.31 1/15/1900 2.79 13.38 7.39
S&P 500 0.46 -10.38 -19.42 -2.06   1.11 -23.71 -22.33 FR2000 7 Yr 2000 7.22 22.2 7 Yr 8.39 4.62
Diff -3.92 -17.12 Standard Deviation 11.19 2005   -0.57 -29.04 11.22 Ratio 18.46 62.14 11.44 71.5 8.99 3.08 5.94
12/31/2006 8 Yr -19.82 Beta 0.87 12.44 6 Yr 2001   0.82 1 Yr 14.78 39.49   Beta 0.82 2 Yr 7.37 -3.5 0.71
Qtr 4.85 -21.16 Annualized Alpha 2.73 0.0273 11.6 -0.52 2000 FUND -30.23 -0.3023 0.28 0.0028 22.6 11.62 2000 FUND 30.15 0.3015 Alpha 3.53 0.0353   10.1 5.52 1999   0.13 0.0013  
4.91 30 -25.68 R-Squared 0.91   0.84 46 UNIVERSE 7   0.91 24.6 5.76 UNIVERSE 19.95   0.94 1/14/1900 1.92 28.08 0.1547 0.62
6.7 3.33 2001 0.53 2004 -1.58 POLICY -45.64 -0.4564 0.02 91.6 -6.22 POLICY 9.11 0.0911 0.8 70.3 0.91 20.54   1.05
-1.79 50 -31.06 6.79 4.17 79 84 0.27 2 Yr 8 Yr 1999 11.16 12/31/2003 8 Yr 15.47 0.0446 8.79
2007 7.71 2000 FUND 84 3.67 7.51 5 Yr FUND 4.17 -29.08 4.04 1/22/1900 17.58 50.94 3.7 Incept 9.61 11.7 4.15
YTD 5.74 UNIVERSE -26.62 0.56 -3.34 UNIVERSE 1.27 -35.09 -0.03 23.7 14.21 31.67 0.48 1/10/1900 7.17 4.46 -1.03
4.91 3.29 POLICY 52 Policy S&P 500 2003 POLICY -0.92 -38.5 R1000G 95.9 12.05 21.4 FR2000 15.1 5.85 1998 R1000V
6.7 2.55 -12.56 6 1/18/1900 -1.51 -43.41 7 3 Yr 8.8 11.57 2 70 4.19 9.83 0
-1.79 -0.39 -20.73 14 25.91 -2.08 -51.41 13 25.9 3.84 1.61 6 Returns in Down Markets 3.25 6.07 8
2006 9 Yr -26.57 50 -7.18 7 Yr 2000 60 25.8 Fiscal Year Returns Ending September 1998 37.5 Fund Fiscal Year Returns Ending September 1.83 75
13.06 7.05 -28.89 -17.28 2002 3.8 46.3 -18.67 100.2 Fund -1.61 -5.34 R1000V Fund -0.8 0.09
10.79 19 -35.02 15.39 -17.5 0.14 27.14 14.31 3/31/2003 Return -9.72 13.93 Ratio Return -5.82 8
1/2/1900 5.96 2000 32.67 -22.51 -2.59 20.88 32.98 Incept %-tile -16.12 19.27 1 Yr 2 Yr %-tile 7.91
2005 38 16.14 -24.76 5.01 -3.04 14.34 -27.89 31.4 FR2000 -20.15 4.55 12/31/2003 R1000V 7.05
14.04 8.24 30 12.3 2001   -3.8 8.45 13.06 37.2 Return -27.66 13.6 Incept Return 6.59
1/12/1900 6.45 13.28 Standard Deviation 1 ############################## 8 Yr 1999 1 3/24/1900 %-tile   1 %-tile 1
1/1/1900 5.66 46 0 -45.64 6.13 38.21 0 Returns in Down Markets Universe 0 Universe 0
2004 4.61 27.56 1 15.09 2.71 31.55 1 Fund 5th %-tile   1 5th %-tile 1
13.63 2.09 17 0.31 2000 1999 1998 1.39 27.96 0.03 FR2000 25th %-tile 0.54 25th %-tile 1.6
13.87 10 Yr 13.02 3.84 Returns in Up Markets 0.66 26.33 0.34 Ratio 50th %-tile 7.37 50th %-tile #VALUE! 10.52 QU. FUND #REF!
-0.24 9.37 9.15 0 Fund 0.27 20.01 0 1 Yr 75th %-tile 0 75th %-tile 0 UNIVERSE
2003 15 1.34 Diff R1000G Fiscal Year Returns Ending September 1998 Diff -2.8 95th %-tile Diff 95th %-tile #VALUE! Diff POLICY #REF!
20.49 8.44 1999 1 Ratio Fund 16.52 0 -5 Qtr 1 Qtr 1
24.4 31 30.59 -1 3 Yr Return 9.1 0 55.4 9.83 0.0983 -1 6.77 0.0677 -1
-3.91 10.24 19 0 12.4 %-tile 7.45 -20 2 Yr 15 25 57 -50
2002 8.7 26.68 2.52 16 R1000G 2.95 3.84 -6.1 8.9 0.089 1.96 8 0.08 -0.71
-7.86 8.06 41 -2.47 77.1 Return -4.96 -3.43 -10.1 27 -2 17 -1.23
-20.49 6.35 36.18   -4.99 5 Yr %-tile -7.27 60.2 QU. FUND 11.22   -3.96 8.7 -0.52
12.63 3.05 28.77 5.34 1/17/1900 Universe 5.56 3 Yr UNIVERSE 8.95 2.67 7.62 -2.43
2001 Fiscal Year Returns Ending September 24.51   -1.11 23.1 5th %-tile -1.84 -7.6 POLICY 8.08   -2.16 6.92 -0.65
-31.06 Fund 16.71 -0.13 77.8 25th %-tile -0.18 -12.7 6.96 -0.18 6.6 -0.29
-26.62 Return 9.03 2.73 6 Yr 50th %-tile 0.28 59.8 5.08 3.53 4.92 0.13
-4.44 %-tile 1998 -0.09 1/19/1900 75th %-tile -0.09 3/31/2003 YTD -0.06 YTD -0.38
2000 S&P 500 6.61 0.22 27 95th %-tile -0.01 Incept 9.83 0.26 6.77 -0.55
16.14 Return 31 2.95 72.6 Qtr -0.07 -7.6 15 3.79 57 -1.73
13.28 %-tile 10.1 3.67 3/31/2000 2.88 0.0288 4.04 -12.7 8.9 3.7 8 4.15
1/2/1900 Universe 13 10 Yr Incept 88 6 Yr 2/28/1900 27 3 Yr 17 Incept Incept
1999 5th %-tile 15.53 # of Negative Qtrs 19.6 5.93 0.0593 # of Negative Qtrs 11.22 # of Negative Qtrs 8.7 # of Negative Qtrs
30.59 25th %-tile 7.46 # of Positive Qtrs 27 37 # of Positive Qtrs 8.95 # of Positive Qtrs 7.62 # of Positive Qtrs
26.68 50th %-tile 3.17   Batting Average 72.6 7.26 Batting Average 8.08 Batting Average 6.92 Batting Average 2002 FUND #REF!
3.91 75th %-tile -0.89 Worst Qtr Returns in Down Markets 6.22 Worst Qtr 6.96 Worst Qtr 6.6 Worst Qtr UNIVERSE
1998 95th %-tile -8.95   Best Qtr Fund 5.69 Best Qtr 5.08 Best Qtr 4.92 Best Qtr POLICY #REF!
6.61 Qtr 27.93 Range R1000G 4.14 Range 2006 Range 2006 Range
10.1 4.91 0.0491 Worst 4 Qtrs Ratio 2.24 Worst 4 Qtrs 9.79 Worst 4 Qtrs 11.63 Worst 4 Qtrs
-3.49 91 Standard Deviation 3 Yr YTD Standard Deviation 30 Standard Deviation 46 Standard Deviation
Returns in Up Markets 6.7 0.067 Beta -11.4 2.88 Beta 9.92 Beta 14.62 Beta
Fund 45 Annualized Alpha -12.6 88 Annualized Alpha 29 Annualized Alpha 9 Annualized Alpha
S&P 500 8.29   R-Squared 90.3 5.93 R-Squared 2002 FUND 14.58   R-Squared 15.53 R-Squared
Ratio 7.18 Sharpe Ratio 5 Yr 37 Sharpe Ratio UNIVERSE 10.38 Sharpe Ratio 13.04 Sharpe Ratio
3 Yr 6.64   Treynor Ratio -20.9 7.26 Treynor Ratio POLICY 7.72   Treynor Ratio 11.24 Treynor Ratio 2001 FUND #REF!
17 6.03 Tracking Error -26.6 6.22 Tracking Error 4.83 Tracking Error 10.32 Tracking Error UNIVERSE
17 4.41   Information Ratio 78.4 5.69 Information Ratio 2.19 Information Ratio 7.31 Information Ratio POLICY #REF!
99.9 YTD Fund 6 Yr 4.14 Fund 2005 Fund 2005 Fund
5 Yr 4.91 14 -26.8 2.24 9 20.95 4 11.29 3
21.9 91 26 -35.7 2006 15 35 8 73 9  
22.9 6.7 52.5 75.2 3.97 41.67 17.95 66.67 16.69 25 Batting Average
95.8 45 -15.47 3/31/2000 78 -14.83 63 -3.38 23 -1.13
10 Yr 8.29   22.14 Incept 6.03 10.88 2001 FUND 26.4   14.17 24.1 9.38
31 7.18 37.61 -23.8 59 25.71 UNIVERSE 21.72 17.55 16.12 10.51
30.5 6.64   -31.06 -35.5 12.28 -22.33 POLICY 19.25   7.22 12.74 4.62 2000 FUND #REF!
101.5 6.03 15.16 67 10.11 12.6 16.53 10.99 11.06 6.4  N/A Standard Deviation
9/30/1992 4.41   0.96 6.63 0.68 11.14 0.76 7.98 0.79   #REF! Beta
Incept 2006 1.25   4.5 0.33 0.0033 2004 5.02 0.0502 2004 -1.08 -0.0108 Annualized Alpha #REF!
26.7 13.06 0.92 0.01 0.87 21.5 0.9 23.92 0.68 R-Squared
26.5 9 0.38 2005 -0.25 31 1.16 18.34 1.18
100.8 10.79 5.94 12.44 -4.65 18.78 16.8 14.42 9.59
Returns in Down Markets 29 4.31 65 7.1 54 4.77 13.02 3.86
Fund 13.68   0.22 11.6 0.15 2000 FUND 28.92   0.46 8.08 -1.17
S&P 500 10.94 S&P 500 71 R1000G UNIVERSE 22.49 FR2000 2003 R1000V Policy
Ratio 10.25   13 25.06 9 POLICY 19.1   3 27.67 0 1999 FUND #REF!
3 Yr 7.48 27 17.68 15 16.07 9 23.98 12  N/A
-3.6 2.85   47.5 13.67 58.33 8.02 33.33 21.95 75   #REF!
-5.4 2005 -17.28 10.23 -20.9 2003 -5.34 19.27 0.09
67.2 14.04 21.13 6.73 15.14 48.25 14.09 15.84 10.38
5 Yr 38 38.41 2004 36.04 34.58 19.43 2002 10.29
-18 12.25 -26.62 4.17 -27.89 30.01 4.55 -6.38 7.05
-24.5 57 15.18 94 17.19 25.9 13.75 -15.42 6.68 Standard Deviation
73.5 22.88   1 7.51 1 1999 FUND 19.17   1 -18.95 1
10 Yr 15.79 0 73 0 N/A 2002 0 -20.72 0
-24.8 12.59   1 18.36 1   6.59   1 -24.03 1 1998 FUND #REF!
-26.2 11.47 0.31 12.29 -0.25 -1.82 0.77 2001 1.81  N/A
94.7 7.61   4.77 10.02 -4.22 -7.42 10.57 5.47 12.1   #REF!
9/30/1992 2004 0 7.03 0 -12.12 0 -5.14 0
Incept 13.63 Diff 3.61 Diff -19.94 Diff -13.19 Diff
-24.2 39 1 2003 0 2001 1 -23.01 3
-25.3 13.87 -1 18.73 0 9.26 -1 -27 -3
95.6 35 5 70 -16.66 -2.9 33.34 2000 -50
19.71 1.81 25.91 6.07 1998 FUND -15.03 1.96 22.25 -1.22
14.67 1.01 8 -4.26 N/A -25.09 0.08 13.38 -1
13.19   -0.8 26.39 -10.33   -41.08   -1.88 8.39 0.22 #REF!
10.23 -4.44 23.7 5.56   2000 2.67 3.08 -2.43
5.93   -0.02 21.45 -4.59 62.14   -2.76 -3.5 -0.28 #REF!
2003 -0.04 17.27 -0.32 39.49 -0.24 1999 -0.21
20.49 1.25 11.31 0.33 30.15 5.02 28.08 -1.08
73 -0.08 2002 -0.13 19.95 -0.1 20.54 -0.32
24.4 0.07 -17.5 0 9.11 0.39 15.47 -0.63
25 1.17 31 -0.43 1999 6.23 11.7 -2.51
29.75 4.31 -22.51 7.1 50.94 4.77 4.46 3.86
24.33 Incept Incept 76 Incept Incept 31.67 Incept
23.28   # of Negative Qtrs -9.79 # of Negative Qtrs 21.4   # of Negative Qtrs  
20.05 # of Positive Qtrs -16.66 # of Positive Qtrs 11.57 # of Positive Qtrs
14.08   Batting Average -19.49 Batting Average 1.61   Batting Average  
2002 Worst Qtr -22.37 Worst Qtr Worst Qtr
-7.86 Best Qtr -28.93 Best Qtr Best Qtr
1 Range 2001 Range Range
-20.49 Worst 4 Qtrs -30.55 Worst 4 Qtrs Worst 4 Qtrs
60 Standard Deviation 45 Standard Deviation Standard Deviation
-10.38 Beta -45.64 Beta Beta
-17.12 Annualized Alpha 100 Annualized Alpha Annualized Alpha
-19.82 R-Squared -25.35 R-Squared R-Squared
-21.16 Sharpe Ratio -28.09 Sharpe Ratio Sharpe Ratio
-25.68 Treynor Ratio -31.08 Treynor Ratio Treynor Ratio
2001 Tracking Error -33.4 Tracking Error Tracking Error
-31.06 Information Ratio -36.39 Information Ratio Information Ratio
84 Fund Fund 2000 Fund Fund Fund
-26.62 15 33.35 11 4
52   42 16.1 16 11
-12.56 Batting Average 49.12 12.97 Batting Average 48.15 53.33
-20.73 -15.47 12.4 -14.83 -3.38
-26.57 22.14 6.57 10.88 14.26
-28.89 37.61 1999 25.71 17.64
-35.02 -31.06 38.73 -30.55 7.22
2000 Standard Deviation 13.7 29.66 Standard Deviation 13.25 10.85
16.14 Beta 0.96 25.66 Beta 0.67 0.68
30 Annualized Alpha 0.95 0.0095 20.21 Annualized Alpha 1.72 0.0172 4.88 0.0488 0.000488
13.28 R-Squared 0.91 17.15 R-Squared 0.86 0.86
46 0.57 -0.39 1.77
27.56 8.09 -7.66 28.29
17 4.2 7.87 6.18
13.02 0.13 0.5 -0.39
9.15 Policy S&P 500 Policy R1000G FR2000
1.34 14 12 3
1999 43 15 12
30.59 50.88 51.85 46.67
19 -17.28 -21.35 -5.34
26.68 21.13 15.14 23.42
41 38.41 36.49 28.76
36.18 -26.62 -45.64 4.55
28.77 Standard Deviation 13.57 Standard Deviation 18.48 14.69
24.51 1 1 1
16.71 0 0 0
9.03 1 1 1
0.53 -0.49 1.48
7.24 -9.03 21.67
0 0 0
Diff Diff Diff
1 -1 1
-1 1 -1
-1.76 -3.7 6.66
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 -5.23 -3.84
-0.04 -0.33 -0.32
0.95 1.72 4.88
-0.09 -0.14 -0.14
0.04 0.1 0.29
0.85 1.37 6.62
4.2 7.87 6.18
-0.09
0.02
0.64
4.32