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
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)
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
Inception date is September 30, 1992 45 46 3 Yr Inception date is March 31, 2000 55 56 1 Yr Inception date is March 31, 2003 63 64 Incept 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
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 March 31, 2004 Calendar Year Returns Batting Average Returns are gross of fees. Incept is March 31, 2000 to March 31, 2004 Calendar Year Returns Batting Average Returns are gross of fees. Incept is March 31, 2003 to March 31, 2004 Calendar Year Returns Batting Average
Account Reconciliation Trailing Returns through March 31, 2004 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2004 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 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
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
Investment G/L -20.00% -20.00% Worst 4 Qtrs Investment G/L -20.00% -30.00% Worst 4 Qtrs Investment G/L 0.00% -30.00% Worst 4 Qtrs
Ending Value -10.00% -10.00% Standard Deviation Ending Value -10.00% -20.00% Standard Deviation Ending Value 10.00% -20.00% Standard Deviation
3/31/2004 0.00% 0.00% Beta 3/31/2004 0.00% -10.00% Beta 3/31/2004 20.00% -10.00% Beta
Qtr 10.00% 10.00% Annualized Alpha Qtr 10.00% 0.00% Annualized Alpha Qtr 30.00% 0.00% Annualized Alpha
65,370 20.00% 20.00% R-Squared 18,651 20.00% 10.00% R-Squared 6,517 40.00% 10.00% R-Squared
-3,716 30.00% 30.00% Sharpe Ratio -20 30.00% 20.00% Sharpe Ratio -13 50.00% 20.00% Sharpe Ratio
658 40.00% 40.00% Treynor Ratio -111 40.00% 30.00% Treynor Ratio 251 60.00% 30.00% Treynor Ratio
62,312 50.00% 50.00% Tracking Error 18,521 50.00% 40.00% Tracking Error 6,755 70.00% 40.00% Tracking Error
2004 60.00% 60.00% Information Ratio 2004 60.00% 50.00% Information Ratio 2004 80.00% 50.00% 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 2 Qtrs 60.00% Fund YTD 90.00% 60.00% Fund Fund
65,370 Trailing Returns through March 31, 2004 Calendar Year Returns 4 18,651 3 Qtrs 70.00% 1 6,517 Qtr YTD Incept 70.00% 0
-3,716 Fund Fund 8 -20 1 Yr Qtr YTD 2003 2002 2001 2000 1999 1998 1997 1996 3 -13 Trailing Returns through March 31, 2004 Qtr YTD 2003 2002 2001 2000 1999 1998 1997 1996 4
658 Return Return 58.33 -111 2 Yr Calendar Year Returns 25 251 Fund Calendar Year Returns Batting Average 0
62,312 %-tile %-tile -15.47 18,521 3 Yr Fund -0.6 6,755 Return Fund 3.85
9/30/1992 S&P 500 S&P 500 14.77 3/31/2000 4 Yr Return 10.56 3/31/2003 %-tile Return 14.47
Incept Return Return 30.24 Incept 5 Yr %-tile 11.16 Incept FR2000 %-tile 10.62
  18,638 %-tile %-tile -19.42 10,795 6 Yr S&P500 23.84 4,822 Return FR2000 41.17
-16,808 Universe Universe 16.29 11,625 7 Yr Return 8.28 -46 %-tile Return Standard Deviation 8.16
60,482 5th %-tile 5th %-tile 0.93 -3,899 8 Yr %-tile 0.81 1,979 Universe %-tile Beta 0.53
62,312  62,312,000  25th %-tile 25th %-tile 4.04 18,521  18,521,000 Trailing Returns through March 31, 2004 Universe -3.11 6,755    6,755,000 5th %-tile Universe Annualized Alpha 8.58 0.0858
Investment Policy 50th %-tile 50th %-tile 0.93 Investment Policy Fund 5th %-tile 0.9 Investment Policy 25th %-tile 5th %-tile R-Squared 0.68
Index 75th %-tile 75th %-tile 0.17 Index Return QU. FUND 25th %-tile #VALUE! 2.76 Index 50th %-tile 25th %-tile 4.92
S&P 500 95th %-tile 95th %-tile 2.97 S&P 500 %-tile UNIVERSE 50th %-tile 28.2 Russell 2000 75th %-tile 50th %-tile 75.79
Total 1 Yr Qtr 4.54 Total S&P500 POLICY 75th %-tile #VALUE! 3.24 Total 95th %-tile 75th %-tile 7.58
Weight 31.43 0.3143 QU. FUND 0.98 0.0098 0.89 Weight Return 95th %-tile -3.48 Weight Qtr 95th %-tile   -2.99
100 75 UNIVERSE 81 S&P 100 %-tile Qtr S&P500 100 3.85 Qtr. FUND Qtr Policy FR2000
100 35.12 0.3512 POLICY 1.69 0.0169 500 100 Universe -0.6 -0.006 0 100 84 UNIVERSE 3.85 0.0385 0
Trailing Returns through March 31, 2004 1 Yr FUND 39 50 4 Trailing Returns through March 31, 2004 5th %-tile 92 4 Trailing Returns through March 31, 2004 6.26 POLICY 84 4
Fund UNIVERSE 46.22 4.69 8 Fund 25th %-tile 1.69 0.0169 75 Fund 34 6.26 0.0626 100
S&P 500 POLICY 37.64 2.55 41.67 S&P500 50th %-tile 35 1.69 FR2000 8.77 34 6.26
Diff 34.56 1.68 -17.28 Diff 75th %-tile 4.8 15.39 Diff 6.87 8.77 23.42
1 Yr 31.35 1.24   15.39 1 Yr 95th %-tile 2.11 13.7 1 Yr 5.64 6.87   17.16
31.43 25.07 -0.36 32.67 1/23/1900 2 Qtrs 1.21 35.12 2/10/1900 4.36 5.64 63.83
35.12 2 Yr YTD   -24.76 35.12 8.3 0.61 9.66 63.83 2.51 4.36   Standard Deviation 12.71
-3.69 2.91 0.98 16.85 -11.28 95 -1.1 1 -22.66 YTD 2.51 1
2 Yr 20 81 1 2 Yr 14.08 YTD 0 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 3.85 YTD 0
2.91 0.83 1.69 0 ############################## 19 -0.6 1 3/31/2003 84 3.85 1
0.83 41 50 1 0.83 17.3 92 3.53 Incept 6.26 84 4.94
2.08 6.66 4.69 -0.07 -2.5 13.46 1.69 34.12 41.17 34 6.26 62.83
3 Yr 2.3 2.55 -1.26 3 Yr 12.14 35 0 63.83 8.77 34 0
1/4/1900 0.54 1.68 0 -0.47 10.46 4.8 Diff -22.66 INCEPTION 6.87 0.0687 8.77 Diff
Incept ROR 0.63 -0.89 1.24 Diff   1/0/1900 8.17 2002 FUND 2.11 0.0211 1 Calendar Year Returns UNIVERSE 5.64 6.87 0
Fund 4.02 -3.75 -0.36 0   -1.1 3 Qtrs UNIVERSE 1.21 -1 Fund POLICY 4.36 0.0436 5.64 0
Policy 4 Yr 3 Yr 2003 0   4 Yr 12.01 POLICY 0.61 0.0061 -50 FR2000 2.51 4.36 -100
-4.35 4.65 0.0465 2002 FUND 29.18 0.2918 16.66 ############################## 89 -1.1 -2.29 Diff Incept 2.51 -2.41
-5.48 9 UNIVERSE 29 1.81 ############################## 17.09 2003 -4.83 3/31/2004 41.17 2003 -8.95
1.13 0.63 0.0063 POLICY 28.68 0.2868 -0.62 -1.1 33 22.53 0.2253 -2.54 Qtr 96 59.11 -6.54
5 Yr 3 Yr FUND 41 34 -2.43 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 24.86 85 -11.28 3.85   63.83 45.79 -22.66
1.02 UNIVERSE 6.89 35.07 5.34 3/31/2000 17.52 28.68 0.2868 -1.38 1/6/1900 16 40.3 -4.55
-1.22 POLICY 1.67 29.63 -0.56 Incept 15.89 37 -0.19 -2.41 76.67 36.49 -0.47
2.24 0.35 27.91 -0.07 -6.58 13.61 38.01 -3.11 2004 61.25 29.24 8.58
6 Yr -0.93 25.2   4.04 -5.48 10.48 2001 FUND 30.97 -0.1 YTD 3 Yr FUND 56.32 2002   -0.32
3.06 -3.92 20.9 -0.07 -1.10 1 Yr UNIVERSE 26.77 -0.77 1/3/1900 UNIVERSE 50.27 -4.62 -0.02
1.85 4 Yr 2002   0.24 Calendar Year Returns 1 Yr FUND 23.84 0.2384 POLICY 24.36 -5.92 6.26 POLICY 44.53 -12.79   12.96
1.21 -4.35 2001 FUND -16.08 -0.1608 4.23 Fund UNIVERSE 94 20.43 3.24 -2.41 -17 7.58
7 Yr 37 UNIVERSE 8 4.54 S&P500 POLICY 35.12 0.3512 2002 2 Yr 2003 2002 2001 2000 1999 1998 1997 1996 1995 -22.21
8.17 -5.48 POLICY -22.1 -0.221 5 Yr 5 Yr Diff 26 -18.73 -0.1873 # of Negative Qtrs Returns in Up Markets -30.29
1/7/1900 49 47 # of Negative Qtrs 3/31/2004 45.44 9 # of Positive Qtrs Fund 2001
0.75 3.81 -15.02 # of Positive Qtrs Qtr 35.21 -22.1 -0.221 Batting Average FR2000 28.96
8 Yr -2.09 -19.91 Batting Average -0.6 31.09 19 Worst Qtr Ratio 15.1
1/9/1900   -5.61 -22.25 Worst Qtr 1/1/1900 27.75 -15.91 Best Qtr 3/31/2003 6
8.92   -6.74 -23.64 Best Qtr -2.29 23.27 2000 FUND -23 Range Incept -2.67
0.54 -10.38 -26.8 Range 2004 2 Yr UNIVERSE -25.5 Worst 4 Qtrs 41.2 -14.89
9 Yr 5 Yr 2001 Worst 4 Qtrs YTD -1.67 N/A -28.94 Standard Deviation 63.8 2000
11.01 1.02 0.0102 2000 FUND -8.82 -0.0882 Standard Deviation ############################## 51 -32.42 Beta 3/4/1900 32.63
11.36 28 UNIVERSE 26 Beta 1.69 0.83 2001 Annualized Alpha Returns in Down Markets 20.08
-0.35 -1.22 -0.0122 POLICY -11.88 -0.1188 Annualized Alpha -2.29 30 -14.21 -0.1421 R-Squared Fund 11.34
10 Yr 5 Yr FUND 52 48 R-Squared 2003 5.12 18 Sharpe Ratio FR2000 2.49
11.43 UNIVERSE 9.66 0.69 Sharpe Ratio 22.53 1.45 -11.88 -0.1188 Treynor Ratio Ratio -14.08
1/11/1900 POLICY 1.38 -8.82 Treynor Ratio 1/28/1900   -1.62 Tracking Error 3/31/2003 1999
-0.34 -1.18 -12.07 Tracking Error -6.15 -3.6 Information Ratio Incept 49.45
9/30/1992 -2.09 -13.76   Information Ratio 2002 -5.7 Fund 5 Yr FUND 29.79  
Incept -4.94 -19.6 Fund Fund -18.73 3 Yr 4 N/A 15.79
11.66 6 Yr 2000   9 -22.1 3 Yr FUND -0.47 -0.0047 4   5.54  
11.24 3.06 1999 FUND -15.65 -0.1565 11 3.37 UNIVERSE 36 50 -3.68
0.42 25 UNIVERSE 96 Batting Average 55 2001 POLICY 0.63 0.0063 -14.71 1998
Calendar Year Returns 1.85 POLICY -9.11 -0.0911 -15.47 -14.21 28 10.56 18.23
Fund 44 65 19.48 ############################## 3.68 25.27 4.91
S&P 500 7.64 15.56 34.95 -2.33 0.91 -21.93 0.03
Diff 2.97 0.06 -31.06 2000 1999 1998 1997 1996 1995 -2.05 14.51 -6.16
3/31/2004 1.62 -6.88 Standard Deviation 16.81 Returns in Up Markets -3.86 0.82 -12.27
Qtr 0.67 -9.62 Beta 0.96   Fund -6.43 -2.51   1997  
0.98 -2.03 -15.34 Annualized Alpha 2.28 0.0228 S&P500 4 Yr 0.95 37.13
1.69 7 Yr 1999 R-Squared 0.91 Ratio -6.58   -0.2 31.48
-0.71 8.17 1998 FUND 27.75 0.2775 -0.14 1 Yr 18 -3.6 25.91
2004 25 UNIVERSE 18 -2.4 23.8 -5.48 4.5 20.09
YTD 7.42 POLICY 20.14 0.2014 4.98 35.1 13 -0.56 13.07
0.98 36 53 0.45 67.9 -3.16 S&P500 1996
1.69 11.91 40.15 Policy S&P 2 Yr -7.8 3 34.75
-0.71 8.12 24.24 500 24.4 5 Yr FUND -10.62 5 25.3
2003 7.04 20.43 9 35.7 N/A -12.88 50 20.84
29.18 5.65 15.61 11 68.3 -15.73 -17.28 17.4
28.68 2.86 5.6 45 3 Yr 5 Yr 15.39 10.54
1/0/1900 8 Yr 1998 -17.28 24.2 6.8 32.67
2002 9.46 26.36 15.39 31.2 0.19 -24.76
-16.08 20 45 32.67 77.7   -2.87 17.27
################################### 8.92 29.62 -26.62 3/31/2000 -4.9 1  
1/6/1900 25 19 Standard Deviation 16.79 Incept -8.04 0
2001 11.91 35.85 1 24.2 6 Yr 1  
-8.82 8.87 28.5 0 31.2 7.42 -0.03
-11.88 8.22 25.14 1 77.7 3.26 -0.45
3.06 6.8 17.48 -0.27 Returns in Down Markets 0.88 0
2000 4.05 7.55 -4.54 Fund -1.08 Diff
-15.65 9 Yr 1997 0 S&P500 -3.27 1
-9.11 11.01 32.63 Diff Ratio 7 Yr -1
-6.54 32 29 0 1 Yr 2 Yr 11.05 0
1999 11.36 33.5 0 -26.4 7.94 2.57
27.75 21 18 10 -30.6 6.16 -4.83
20.14 13.95 36.26   1.81 86.2 4.64 -7.4 QU. FUND  
7.61 11.11 32.81 4.09 3 Yr 2.08 2.83 UNIVERSE
1998 10.3 30.27   2.28 -36.1 8 Yr -2.76 POLICY  
26.36 8.79 25.81 -4.44 -40.8 12.22 -0.18
29.62 6.48 15.95 0.02 88.5 8.7 -2.51
-3.26 10 Yr 1996 -0.04 3/31/2000 7.17 -0.05
1997 11.43 20.54 2.28 Incept 5.68 -0.17
32.63 27 61 -0.09 -29.7 3.66 -3.15
33.5 11.77 23.66 0.13 -31.9 4.5
################################### 20 23 2.14 4/2/1900 3 Yr
1996 13.52 28.82 4.98 # of Negative Qtrs
20.54 11.46 23.34 10 Yr # of Positive Qtrs
23.66 10.59 21.69   # of Negative Qtrs Batting Average
-3.12 8.92 18.67 # of Positive Qtrs Worst Qtr
1995 6.61 13.52   Batting Average Best Qtr
27.6 9.87 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  
32.6 Sharpe Ratio Tracking Error
31.2   Treynor Ratio Information Ratio
104.5 Tracking Error Fund
5 Yr Information Ratio 5
34.4 Fund 7
32.5 10 58.33
105.9 30 -14.71
10 Yr   47.5 10.56 2001 FUND  
30.1 -15.47 25.27 UNIVERSE
31.3   22.14 -21.93 POLICY  
95.9 37.61 14.53
9/30/1992   -31.06 0.84
Incept 15.48   -1.14
28.6 0.95 0.95
28.4 0.25 -0.16
100.5 0.92 -2.81
Returns in Down Markets 0.46 4.28
Fund   7.57 -0.26 2000 FUND  
S&P 500 4.55 S&P500 UNIVERSE
Ratio   -0.07 4 POLICY  
3 Yr S&P 8
-34.8   500 41.67
-40.8 10 -17.28
85.4 30 15.39
5 Yr 52.5 32.67
-28.7 -17.28 -24.76
-31 21.13 16.85
92.7   38.41 1 1999 FUND  
10 Yr -26.62 0 N/A
-29.9   15.52 1    
-31.1 1 -0.07
96.2   0 -1.26
9/30/1992 1 0
Incept 0.49 Diff
-28.7 7.53 1
-29.6 0 -1
97.2 Diff 16.66
0 2.57 1998 FUND
0 -4.83 N/A
  -5 -7.4    
1.81 2.83  
  1.01 -2.32  
-0.8 -0.16
-4.44 -1.14
-0.04 -0.05
-0.05 -0.09
0.25 -1.55
-0.08 4.28
Incept -0.03 Incept Incept
  0.04 # of Negative Qtrs  
4.55 # 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 8
  Information Ratio 8
Batting Average Fund Batting Average 56.25
11 -14.71
35 10.56
50 25.27
-15.47 -30.23
Standard Deviation 22.14 Standard Deviation 15.58
Beta 37.61 Beta 0.88
Annualized Alpha -31.06 -0.3106 Annualized Alpha -1.84 -0.0184 0
R-Squared 14.8 R-Squared 0.91
0.96 -0.61
0.86 -10.77
0.91 5.04
0.51 -0.22
Policy 7.89 Policy S&P500
4.43 8
0.09 8
S&P 43.75
500 -17.28
11 15.39
35 32.67
50 -26.62
Standard Deviation -17.28 Standard Deviation 16.83
21.13 1
38.41 0
-26.62 1
14.72 -0.5
1 -8.38
0 0
1 Diff
0.49 0
7.15 0
0 12.5
Diff 2.57
0 -4.83
0 -7.4
0 -3.61
1.81 -1.25
1.01 -0.12
-0.8 -1.84
-4.44 -0.09
0.08 -0.11
-0.04 -2.39
0.86 5.04
-0.09
0.02
0.74
4.43