Hollywood Police Officers' Pension Fund
December 31, 2003
Total Fund
		5 Year Return (p1)				5 Year Standard Deviation (p20)				Size		(p1)
		Fund	Policy	Ratio		Fund	Policy	Ratio
3/31/2003		2.38	1.61	0.77		9.28	9.18	0.1		0.343		Original Amount	59,084
6/30/2003		3.28	2.98	0.3		9.45	9.52	-0.07		0.49		Net Flows	2,575
9/30/2003		4.54	3.79	0.75		8.76	8.9	-0.14		0.7		Gain/Loss	97,043
12/31/2003		3.8	3.07	0.73		8.59	8.73	-0.14		1
												Total	158,702
Inverness Equities
		5 Year Return (p43)				5 Year Standard Deviation (p51)				Size		(p43)
		Fund	Policy	Ratio		Fund	Policy	Ratio
3/31/2003		-1.83	-3.74	1.91		18.28	18.24	0.04		0.343		Original Amount	18,638
6/30/2003		-0.11	-1.62	1.51		18.61	18.65	-0.04		0.49		Net Flows	-13,092
9/30/2003		3.03	0.82	2.21		17.38	17.39	-0.01		0.7		Gain/Loss	59,824
12/31/2003		1.27	-0.72	1.99		16.88	16.97	-0.09		1
												Total	65,370
DHJ Total (Equity + Cash)
		Inception Return (p53)				Inception Standard Deviation (p59)				Size		(p53)
		Fund	Policy	Ratio		Fund	Policy	Ratio
3/31/2003		-12.04	-13.25	1.21		16.77	17.97	-1.2		0.343		Original Amount	10,795
6/30/2003		-11.19	-11.12	-0.07		16.6	17.85	-1.25		0.49		Net Flows	11,645
9/30/2003		-9.57	-9.7	0.13		16.21	17.32	-1.11		0.7		Gain/Loss	-3,788
12/31/2003		-6.85	-6.26	-0.59		16.06	17.31	-1.25		1
												Total	18,652
Inverness Fixed Income
		5-Year Return (p23)				5-Year Standard Deviation (p31)				Size
		Fund	Policy	Ratio		Fund	Policy	Ratio
3/31/2003		7.62	7.55	0.07		3.4	3.41	-0.01		0.343
6/30/2003		7.86	7.74	0.12		3.7	3.66	0.04		0.49
9/30/2003		6.96	6.69	0.27		3.71	3.94	-0.23		0.7
12/31/2003		6.95	6.65	0.3		3.74	3.99	-0.25		1