Did the total 3- and
5-year returns exceed the policy, which is comprised of 47% S&P500,
20.50% LBIGC, 20.50% LBGC, 5% S&P500 Barra Growth, 2% S&P500 Midcap,
and 5% Cash?
COMBINED EQUITY
1.
Is the amount
invested in any one issuing company less than 5% of the Fund's total market
value?
2.
Is the aggregate
investment in any one company less than 5% of the outstanding stock of the
company?
3.
Is the amount
invested in foreign securities less than or equal to 10% of the Fund's total
assets?
4.
Is the amount
invested in total equities less than or equal to 50% of the cost value of the
total fund.
INDIVIDUAL EQUITY
Inverness
1.
Did the equity return
equal or exceed the S&P500 over the trailing 3- and 5- year periods?
2.
Is Inverness'
trailing 5-year standard deviation below the standard deviation of the
S&P500?
3.
Do the 3- and 5-year
equity returns rank in the top 50% of the Mobius Broad Large Cap Core
Universe?
4.
Did the equity return
rank in the top 75% of the Mobius Broad Large Cap Core Universe over two
consecutive quarters or over an annual period?
ASSET CONSULTING GROUP
a division of Gabriel,
Roeder, Smith, & Co.
INDIVIDUAL EQUITY
(continued)
5.
Has Inverness' equity
performance fallen in the southeast quadrant of the risk/return scattergram
over the 3- and 5-year period?
6.
Has Inverness'
trailing 3- and 5-year equity returns outperformed its index for four
consecutive quarters?
7.
Has Inverness' equity
annualized alpha been positive over rolling 3-year periods?
Davis
Hamilton Jackson
1.
Did the equity return
equal or exceed it's index comprised of 75% S&P500 Barra Growth and 25%
S&P Midcap 400 over the trailing1- and 2- year periods?
2.
Is DHJ's trailing
2-year standard deviation below the standard deviation of its index comprised
of 75% S&P500 Barra Growth and 25% S&P Midcap 400?
3.
Does the 2-year
equity return rank in the top 50% of the Mobius Broad Large Cap Growth
Universe?
4.
Did the equity return
rank in the top 75% of the Mobius Broad Large Cap Growth Universe over two
consecutive quarters or over an annual period?
5.
Has DHJ's equity
performance fallen in the southeast quadrant of the risk/return scattergram
over the 2-year period?
6.
Has DHJ's quarterly
equity return outperformed its index for four consecutive quarters?
7.
Has DHJ's equity
annualized alpha been positive over rolling 2-year periods?
ASSET CONSULTING GROUP
a division of Gabriel,
Roeder, Smith, & Co.
INVERNESS FIXED
INCOME
1.
Do the 3- and 5-year
total fixed income return exceed the policy (50% LBIGC, 50% LBGC)?
2.
Do the 3- and 5-year
total fixed income returns rank in the top 40% of the Mobius Broad Fixed
Income Universe?
3.
Are all fixed income
investments ranked in the highest four categories by Standard and Poors,
Moody's, or Fitch's Manual?
4.
Has Inverness' fixed
income performance fallen in the southeast quadrant of the risk/return
scattergram over the 5-year period?
5.
Has Inverness'
trailing 3- and 5-year fixed income returns outperformed its index for four
consecutive quarters?
6.
Has Inverness' fixed
income annualized alpha been positive over rolling 3-year periods?
INDIVIDUAL MANAGERS
Inverness
1.
Have there been any
material changes in Inverness' organization, investment philosophy and/or
personnel?
2.
Have there been any
changes in the Inverness' professional staff?
3.
Has Inverness
experienced any significant loss of business?
4.
Has Inverness
experienced any significant increase in business?
5.
Has Inverness
undergone any change in ownership and/or control?
ASSET CONSULTING GROUP
a division of Gabriel,
Roeder, Smith, & Co.
INDIVIDUAL MANAGERS
(continued)
Davis
Hamilton Jackson
1.
Have there been any
material changes in DHJ's organization, investment philosophy and/or
personnel?
2.
Have there been any
changes in the DHJ's professional staff?
3.
Has DHJ's experienced
any significant loss of business?
4.
Has DHJ's experienced
any significant increase in business?
5.
Has DHJ's undergone
any change in ownership and/or control?
