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 Universe 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 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 2 Yr Inception date is December 31, 2003 56 76 2 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 March 31, 2008 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2000 to March 31, 2008 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2003 to March 31, 2008 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is December 31, 2003 to March 31, 2008 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through March 31, 2008 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2008 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2008 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2008 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
3/31/2008 Return -10.00% Beta 3/31/2008 Return 0.00% Beta 3/31/2008 Return 25.00% Beta 3/31/2008 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
76,998 Universe 10.00% R-Squared 27,645 Universe 50.00% R-Squared 11,186 Universe 75.00% R-Squared 14,203 Universe 20.00% R-Squared
1,925 5th %-tile 20.00% Sharpe Ratio -2 5th %-tile 75.00% Sharpe Ratio 3 5th %-tile 100.00% Sharpe Ratio -1 5th %-tile 30.00% Sharpe Ratio
-6,411 25th %-tile 30.00% Treynor Ratio -2,276 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio -1,007 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio -990 25th %-tile 40.00% Treynor Ratio
72,511 50th %-tile 40.00% Tracking Error 25,368 50th %-tile Fiscal Year Returns Ending September Tracking Error 10,183 50th %-tile Fiscal Year Returns Ending September Tracking Error 13,212 50th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Tracking Error
2008 75th %-tile 50.00% Information Ratio 2008 75th %-tile Fund Information Ratio 2008 75th %-tile Fund Information Ratio 2008 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
79,422 1 Yr Fiscal Year Returns Ending September 4 27,634 2 Qtrs %-tile 2 11,345 2 Qtrs %-tile 5 15,453 2 Qtrs Return 4
1,886 4.15 0.0415 Fund 8 -1 -8.2 R1000G 10 8 -10.31 FR2000 3 -2 -14.49 %-tile 4
-8,797 1   Return 66.67 -2,265 7 Return 50 -1,170 14 Return Batting Average 87.5 -2,238 82 R1000V 25
72,511 -5.08 -0.0508 %-tile -8.43 25,368 -10.87 %-tile -8.23 10,183 -14.02 %-tile -9 13,212 -14.01 Return -8.08
9/30/1992 31 S&P 500 9.72 3/31/2000 29 Universe 5.84 3/31/2003 51 Universe 9.83 12/31/2003 78 %-tile 6.77
Incept 1.39 Return 18.15 Incept -7.98 5th %-tile 14.07 Incept -8.87 5th %-tile 18.83 Incept -9.1 Universe 14.85
  18,638 -4.01 %-tile 4.15 10,795 -10.64 25th %-tile 2.81 4,822 -11.99 25th %-tile -5.64 7,800 -11.06 5th %-tile -10.31  
-31,204 -5.39 Universe 9.15 14,204 -12.66 50th %-tile 9.24 97 -13.98 50th %-tile Standard Deviation 11.48 3,183 -12.52 25th %-tile 9.26
85,078 -7.21 5th %-tile 0.99 370 -14.04 75th %-tile 0.93 5,264 -16.26 75th %-tile Beta 0.9 2,229 -13.75 50th %-tile BETA 0.93
72,511  72,511,000                                                                                                            (12) 25th %-tile 4.63 25,368  25,368,000 -16.91 95th %-tile -0.18 10,183  10,183,000 -21.27 95th %-tile Annualized Alpha 6.92 0.0692 13,212           13,212,000 -15.98 75th %-tile ALPHA -1.89 -0.0189 #REF!
Investment Policy 2 Yr 50th %-tile 0.85 Investment Policy 3 Qtrs Qtr 0.93 Investment Policy 3 Qtrs Qtr R-Squared 0.89 Investment Policy 3 Qtrs 95th %-tile 0.89
Index 8.29 75th %-tile 0.7 Index -2.86 QU. FUND -3.66 -0.0366 0.16 Index -11.71 QU. FUND -2.59 -0.0259 -0.13 Index -15.05 Qtr -0.45
S&P 500 2 95th %-tile 6.42 Russell 1000 Growth 15 UNIVERSE 39   1.57 Russell 2000 20 UNIVERSE 12   -1.67 Russell 1000 Value 83 -0.49 -0.0049 -4.48
Total 3.03 Qtr 3.58 Total -7.12 POLICY -3.9 -0.039 2.52 Total -16.68 POLICY -5.02 -0.0502 4.01 Total -14.22 36   3.08
Weight 25 -1.55 -0.0155 1.32 Weight 38 46 -0.26 Weight 57 54 1.77 Weight 78 0.59 0.0059 -0.69
100 1 Yr FUND 6.92 QU. FUND 41   S&P 500 100 -1.18 -1.39 R1000G 100 -7.51 -1.91 Policy FR2000 100 -6.35 13 R1000V
100 UNIVERSE 2.99 UNIVERSE -1.44 -0.0144 3 100 -5.01 -3.05 3 100 -12.61 -3.39 4 100 -10.72 1.73 3
Trailing Returns through March 31, 2008 POLICY 2.53 POLICY 30 9 Trailing Returns through March 31, 2008 -8.56 -4.08   9 Trailing Returns through March 31, 2008 -15.51 -4.84   4 Trailing Returns through March 31, 2008 -11.55 -0.06 5
Fund 1.13 0.64 33.33 Fund -11.44 -5.16 50 Fund -19.64 -6.35 12.5 Fund -13.68 -1.29 75
S&P 500 -1.7 -1.19 -9.45 R1000G -16.01 -6.87   -10.18 FR2000 -23.43 -9.22   -9.9 R1000V -16.74 -1.6 -8.72
Diff 3 Yr -1.85 6.7 Diff 1 Yr YTD 6.86 Diff 1 Yr YTD 8.9 Diff 1 Yr -3.2   8
1 Yr 10.57 0.1057 -3.28   16.15 1 Yr 2.81 0.0281 2.22 17.04 1 Yr -5.64 -0.0564 10.76 18.8 1 Yr -10.31 -0.1031 YTD 16.72 1 Yr FUND #REF!
4.15 3   -5.66 -5.08 1/2/1900 19 64 -0.75 ############################################### 20 20 -13 ############################################### 83   6.81   -9.99 UNIVERSE
-5.08 5.85 0.0585 YTD   8.55 -0.75 -0.75 -0.0075 2.02 9.6 -13 -13 -0.13 9.44 Standard Deviation 12.09 -9.99 -9.99 -0.0999 24 9.42 POLICY #REF!
9.23 38 6.94 1 3.56 37 67 1 7.36 63 28 1 -0.32 81 7.91 1
2 Yr 9.72 16 0 2 Yr 6.67 8.65 0 2 Yr 1.38 13.84 0 2 Yr 1.34 13 0
8.29 6.31 4.85 1 1/3/1900 0.85 5.33 1 1/3/1900 -7.19 9.78 1 1/0/1900 -5.09 9.32 1
3.03 5.65 42 0.19 3.08 -2.04 2.98 0.22 -4.01 -10.94 7.83 -0.71 2.54 -6.18 6.74 -0.22
5.26 4.91 8.45 1.64 0.16 -6.19 1.38 2.12 7.1 -14.75 5.58 -8.6 -2.12 -8.63 4.82 -2.05
3 Yr 2.59 5.82 0 3 Yr -12.47 -1.66 0 3 Yr -18.97 1.51 0 3 Yr -12.44   4.38 0
1/10/1900 4 Yr 4.67 Diff 5.67 2 Yr 2005   Diff 1/9/1900 INCEPTION 2 Yr 2005   Diff 1/3/1900 2 Yr 1.98 Diff
Incept ROR 5.85 9.9 3.13 1   1/6/1900 3.24 2004 FUND 13.12 0.1312 -1 1/5/1900 UNIVERSE 3.09 2004 FUND 21.9 0.219 1 1/6/1900 0.42 0.0042 2005 1     
Fund 4.72 4 0.06 -1   -0.66 28 UNIVERSE 55   1 4.63 POLICY 10 UNIVERSE 23   -1 -2.98 88 11.9 0.119 -1     
Policy 4 Yr 6.06 2005 33.34   4 Yr 3.08 POLICY 11.6 0.116 0 4 Yr -4.01 POLICY 17.95 0.1795 75 4 Yr 2.54 0.0254 62   -50    
9.9 39 14.04   1.02 1/5/1900 29 71 1.95 1/10/1900 64 63 0.9 1/4/1900 58 16.69 0.1669 0.64
6.06 3 Yr FUND 9.41 2004 FUND 38 3.02 1/5/1900 1 Yr FUND 6.01 25.77 -1.02 1/5/1900 4.29 26.4 0.93 1/7/1900 7.05 23 -1.23
3.84 UNIVERSE 6.59 UNIVERSE 12.25 2 0.15 UNIVERSE 3.48 18.07 -2.97 5.4 -0.32 21.72 0.03 -3.58 3.63 24.1 -1.87
5 Yr POLICY 5.84 POLICY 57 9.23 5 Yr POLICY 1.85 13.56   3.56 5 Yr   -2.72 19.25   7.36 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 2.85 16.12 -0.32
13.90 5.14 22.88 0.6 1/8/1900 -0.28 11.02 -0.36 1/15/1900 -5.45 16.53 -0.61 12/31/2003 1.53 12.74   -0.16
11.32 3.23 15.79 -0.01 9.96 -3.79 7.76   -0.07 1/14/1900 -9.49 11.14   -0.1 Incept -0.37 11.06 -0.07
2.58 5 Yr   12.59 4.63 -1.41 3 Yr 2004   -0.18 1.02 3 Yr 2004   6.92 4.88 3 Yr 7.98   -1.89
6 Yr 13.9 0.139 11.47 -0.15 6 Yr 5.67 0.0567 2003 FUND 4.69 0.0469 -0.07 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 3 Yr FUND 9.69 0.0969 2003 FUND 22.46 0.2246 -0.11 8.04 3.03 0.0303 2004   -0.11 3 Yr FUND #REF!
7.52 9   7.61 0.51 2.66 51 UNIVERSE 87   -0.06 3/31/2003 UNIVERSE 15 UNIVERSE 26   0.58 ############################################### 94 23.92 0.2392 -0.23  N/A
4.29 11.32 0.1132 2004 4.78 1/2/1900 6.33 0.0633 POLICY 7.51 0.0751 -0.55 Incept POLICY 5.06 0.0506 POLICY 18.78 0.1878 6.93 Fiscal Year Returns Ending September 6.01 0.0601 18.34   -2.43   #REF!
3.23 42 13.63 3.58 -0.1 40 61 2.52 15.92 53 54 4.01 Fund 37 14.42 0.1442 3.08
7 Yr 14.77 2003 FUND 39 5 Yr 7 Yr 8.96 15.25 5 Yr 14.9 12.13 28.92 3 Yr R1000V 11.03 13.02 3 Yr
7.62 12.34 UNIVERSE 13.87 5 Yr # of Negative Qtrs 1/2/1900 7.23   11.67 # of Negative Qtrs 1.02 7.31 22.49 # of Negative Qtrs Diff 6.67 8.08 # of Negative Qtrs
1/3/1900 11.13 POLICY 35 # of Positive Qtrs 1/2/1900 5.71 8.28 # of Positive Qtrs Fiscal Year Returns Ending September 5.18 19.1 # of Positive Qtrs 3/31/2008 5.76 2003 # of Positive Qtrs
3.92   10.48 19.71 Batting Average 1/0/1900 4.36 6.32 Batting Average Fund 3.56 16.07 Batting Average Qtr 4.7 27.67 Batting Average
8 Yr   8.26 14.67 Worst Qtr 8 Yr 1.76 2.06 Worst Qtr FR2000 -0.14 8.02 Worst Qtr -6.97 2.83 23.98 Worst Qtr
1/2/1900 6 Yr 13.19 Best Qtr ############################################### 4 Yr 2003   Best Qtr Diff 4 Yr 2003   Best Qtr ############################################### 4 Yr 21.95 Best Qtr
0.12 7.52 10.23 Range ############################################### 5.16 2002 FUND 19.31 0.1931 Range 3/31/2008 10.55 0.1055 2002 FUND 48.25 0.4825 Range 1/1/1900 4.18 0.0418 19.27   Range
2.41 5 5.93 Worst 4 Qtrs 3.92 45 UNIVERSE 63   Worst 4 Qtrs Qtr 8 UNIVERSE 34.58   Worst 4 Qtrs 2008 96 15.84 Worst 4 Qtrs
9 Yr 4.29 2003 Standard Deviation 9 Yr 10 Yr 5.01 POLICY 25.91 0.2591 Standard Deviation -9 5.15 0.0515 POLICY 30.01 0.3001 Standard Deviation YTD 7.76 0.0776 2002   Standard Deviation 5 Yr FUND
4.87 44 20.49 Beta 3/31/2000 49 17 Beta ############################################### 62 25.9 Beta ############################################### 23 -6.38 Beta  N/A
1.95 5 Yr FUND 7.47 2002 FUND 73 Annualized Alpha Incept 3 Yr FUND 8 30.61 Annualized Alpha 0.9 11.47 19.17 Annualized Alpha -14.01 10.86 -15.42 Annualized Alpha  
2.92 UNIVERSE 5.25 UNIVERSE 24.4 R-Squared -1.13 UNIVERSE 5.9 23.77 R-Squared 2008 8.11 2002 R-Squared -0.48 7.49 -18.95 R-Squared
10 Yr POLICY 4.11 POLICY 25 Sharpe Ratio -5.05 POLICY 4.96 20.39   Sharpe Ratio YTD 6.18 6.59   Sharpe Ratio 2007 6.05 -20.72 Sharpe Ratio
5.75 3.61 29.75 Treynor Ratio 3.92 3.76 18.37 Treynor Ratio -10.31 4.25 -1.82 Treynor Ratio 13.09 5.66 -24.03   Treynor Ratio
1/3/1900 2.04 24.33 Tracking Error Fiscal Year Returns Ending September 1.75 14.19   Tracking Error ############################################### 1.83 -7.42   Tracking Error 1/14/1900 4.25 2001 Tracking Error
2.23 7 Yr 23.28 Information Ratio Fund 5 Yr 2002   Information Ratio 3.71 5 Yr -12.12   Information Ratio -1.36 5 Yr 5.47   Information Ratio
9/30/1992 7.62 20.05 Fund Fund R1000G 8.55 0.0855 2001 FUND -17.07 -0.1707 Fund 2007 5 Yr FUND 15.92 0.1592 2001 FUND -19.94 -0.1994 Fund 2006 16.42 -5.14   Fund #REF!
Incept 2 14.08 6 Diff 77 UNIVERSE 15   5 1/22/1900 N/A 40 UNIVERSE 2001   5 1/11/1900 13.12 -13.19 -0.27 4
11.2 3.7 2002 14 3/31/2008 9.96 0.0996 POLICY -22.51 -0.2251 15 12.34   14.9 0.149 POLICY 9.26 0.0926 7 14.62 11.91 -23.01   8 #REF!
9.88 45 -7.86 Batting Average 55 Qtr 51 63 45 1/9/1900 57 -2.9 75 ############################################### 11.19 -27 0.2225 25
1.32 7.11 2001 FUND 1 -8.43 -8.23 12.54 -12.11 -8.23 2006 19.94 -15.03 -9 2005 10.57 2000 -8.08
Fiscal Year Returns Ending September 4.73 UNIVERSE -20.49 12.92 -10.18 10.85 -19.07 10.88 1/9/1900 17.1 -25.09 11.93 1/11/1900 6 Yr 22.25 6.77
Fund 3.55 POLICY 60 21.35 1/1/1900 9.99 -21.45 19.11 1/9/1900 15.24 -41.08 20.93 1/16/1900 9.07 13.38 14.85
S&P 500 3.04 -10.38 4.15 2008   8.67 -23.71 2.81 -0.13 13.48 2000 -5.64 -5.4 6.11 8.39 -10.31
Diff 1.1 -17.12 Standard Deviation 9.3 YTD   6.28 -29.04 9.28 2005 10.98 62.14 12.02 2004 2003 2002 2001 2000 1999 4.99 3.08 8.35
3/31/2008 8 Yr -19.82 Beta 0.96 -8.2 6 Yr 2001   0.92 1/20/1900 6 Yr 39.49   Beta 0.84 Returns in Up Markets 4.12 -3.5 0.87
Qtr 2.53 -21.16 Annualized Alpha 2.86 0.0286 -10.87 2.66 2000 FUND -30.23 -0.3023 -0.51 -0.0051 17.95 12.45 2000 FUND 30.15 0.3015 Alpha 5.2 0.052   Fund 2.76 1999   -2.09 -0.0209  
-8.43 29 -25.68 R-Squared 0.88   2.67 53 UNIVERSE 7   0.93 3 8.93 UNIVERSE 19.95   0.91 R1000V 7 Yr 28.08 0.1547 0.82
-9.45 0.12 2001 1.17 2007 2.76 POLICY -45.64 -0.4564 0.59 2004 7.55 POLICY 9.11 0.0911 0.46 Ratio 7.52 20.54   -0.14
1.02 46 -31.06 11.32 18.2 51 84 6 1/21/1900 5.33 1999 6.52 2 Yr 5.91 15.47 0.0446 -1.36
2008 6.86 2000 FUND 84 3.31 19.35 5 Yr FUND 5.38 -29.08 2.52 1/18/1900 0.82 50.94 4.24 14.7 4.66 11.7 3.68
YTD 3.38 UNIVERSE -26.62 0.78 -1.15 UNIVERSE 3.63 -35.09 -0.56 2.72 7 Yr 31.67 1.09 1/17/1900 3.64 4.46 -0.81
-11.15 0 POLICY 52 Policy S&P 500 2006 POLICY 2.77 -38.5 R1000G 2003 2002 2001 2000 1999 13.46 21.4 FR2000 83.1 3.3 1998 R1000V
-12.46 -0.5 -12.56 5 1/3/1900 1.78 -43.41 5 Returns in Up Markets 11.08 11.57 4 3 Yr 8 Yr 9.83 3
1.31 -5.52 -20.73 15 6.03 -0.92 -51.41 15 Fund 8.76 1.61 8 11.9 7.73 6.07 9
2007 9 Yr -26.57 45 -2.06 7 Yr 2000 55 FR2000 7.07 1998 25 15.7 5.65 1.83 75
26.79 4.87 -28.89 -9.45 2005 2.49 46.3 -10.18 Ratio 3.57 -1.61 -9.9 75.6 3.87 -0.8 -8.72
16.44 22 -35.02 15.39 12.44 35 27.14 14.31 2 Yr 8 Yr -9.72 13.93 4 Yr 0.28 -5.82 8
1/10/1900 1.95 2000 24.84 11.6 2.06 20.88 24.49 1/23/1900 14.31 -16.12 23.83 10.6 -0.1 16.72
2006 53 16.14 -5.08 0.84 42 14.34 -0.75 16.4 11.02 -20.15 -13 1/14/1900 Fiscal Year Returns Ending September -9.99
13.06 6.64 30 9.1 2004   4.37 8.45 9.78 144.9 7.47 -27.66 13.63 70.9 Fund 8.66
1/10/1900 4.49 13.28 Standard Deviation 1 1/4/1900 3.07 1999 1 3 Yr 3.09   1 12/31/2003 Return 1
1/2/1900 2 46 0 7.51 1.86 38.21 0 1/24/1900 -3.7 0 Incept %-tile 0
2005 1.51 27.56 1 -3.34 1.05 31.55 1 21 Fiscal Year Returns Ending September   1 1/11/1900 R1000V 1
14.04 -1.03 17 0.91 2003 -1.12 27.96 0.71 114.1 Fund 0.06 14.8 Return 0.21
12.25 10 Yr 13.02 8.29 18.73 8 Yr 26.33 6.93 4 Yr Return 0.85 74.5 %-tile #VALUE! 1.8 QU. FUND #REF!
1.79 5.75 9.15 0 25.91 -1.13 20.01 0 27.4 %-tile 0 Returns in Down Markets Universe 0 UNIVERSE
2004 12 1.34 Diff -7.18 35 1998 Diff 23.1 FR2000 Diff Fund 5th %-tile #VALUE! Diff POLICY #REF!
13.63 3.52 1999 1 2002 -5.05 16.52 0 118.7 Return 1 R1000V 25th %-tile 1
13.87 38 30.59 -1 ############################################### 80 9.1 0 3/31/2003 %-tile #VALUE! -1 Ratio 50th %-tile #VALUE! -1
-0.24 6.48 19 10 -22.51 1.91 7.45 -10 Incept Universe 50 2 Yr 75th %-tile -50
2003 4.19 26.68 1.02 5.01 -0.46 2.95 1.95 30.9 5th %-tile #VALUE! 0.9 -15 95th %-tile #VALUE! 0.64
20.49 3.3 41 -2.47 2001 -2.56 -4.96 -3.43 33.5 25th %-tile -2 -14.2 Qtr -1.23
24.4 2.91 36.18   -3.49 ############################################### -4.69 -5.38 92.1 QU. FUND 50th %-tile #VALUE!   -2.9 105.8 -6.97 -0.0697 -1.87
-3.91 0.13 28.77 9.23 ############################################### -6.84 3.56 Returns in Down Markets UNIVERSE 75th %-tile 7.36 3 Yr 1 -0.32
2002 Fiscal Year Returns Ending September 24.51   0.2 15.09 Fiscal Year Returns Ending September -0.5 Fund POLICY 95th %-tile #VALUE!   -1.61 -15 -8.72 -0.0872 -0.31
-7.86 Fund 16.71 -0.04 2000 1999 Fund -0.08 FR2000 Qtr -0.16 -14.2 30 -0.13
-20.49 Return 9.03 2.86 Returns in Up Markets Return -0.51 Ratio -9 -0.09 5.2 105.8 -7.36 -2.09
12.63 %-tile 1998 -0.12 Fund %-tile -0.07 2 Yr 35 -0.09 4 Yr -8.31 -0.18
2001 S&P 500 6.61 0.26 R1000G R1000G -0.12 -14.2 -9.9 -0.099 0.4 -15 -9.44 -0.35
-31.06 Return 31 3.03 Ratio Return -0.93 -20.9 45 5.67 -14.2 -9.63 -3.16
-26.62 %-tile 10.1 3.31 3 Yr %-tile #VALUE! 2.52 67.9 -4.57 4.24 105.8 -10.65 3.68
############################################### Universe 13 10 Yr 1/13/1900 Universe 7 Yr 3 Yr -7.88 4 Yr 12/31/2003 YTD 4 Yr Incept
2000 5th %-tile 15.53 # of Negative Qtrs 16.3 5th %-tile #VALUE! # of Negative Qtrs -14.2 -10.27 # of Negative Qtrs Incept -14.49 # of Negative Qtrs
16.14 25th %-tile 7.46 # of Positive Qtrs 84.5 25th %-tile # of Positive Qtrs -20.9 -12.38 # of Positive Qtrs -15 82 # of Positive Qtrs
13.28 50th %-tile 3.17   Batting Average 5 Yr 50th %-tile #VALUE! Batting Average 67.9 -16.55 Batting Average -14.2 -14.01 Batting Average 2002 FUND #REF!
2.86 75th %-tile -0.89 Worst Qtr 17.9 75th %-tile Worst Qtr 4 Yr YTD Worst Qtr 105.8 78 Worst Qtr UNIVERSE
1999 95th %-tile -8.95   Best Qtr 21.3 95th %-tile #VALUE! Best Qtr -12.7 -10.31 Best Qtr -9.1 Best Qtr POLICY #REF!
30.59 Qtr 27.93 Range 83.9 Qtr Range -19.1 14 Range -11.06 Range
26.68 -8.43 -0.0843 Worst 4 Qtrs 7 Yr -8.23 -0.0823 Worst 4 Qtrs 3/6/1900 -14.02 Worst 4 Qtrs -12.52 Worst 4 Qtrs
3.91 15 Standard Deviation 1/19/1900 5 Standard Deviation 3/31/2003 51 Standard Deviation -13.75 Standard Deviation
Returns in Up Markets -9.45 -0.0945 Beta 25.3 -10.18 -0.1018 Beta Incept -8.87 Beta -15.98 Beta
Fund 37 Annualized Alpha 77.9 24 Annualized Alpha -12.7 -11.99 Annualized Alpha 2007 Annualized Alpha
S&P 500 -7.51   R-Squared 3/31/2000 -8.37 R-Squared -19.1 2002 FUND -13.98   R-Squared 13.09 R-Squared
Ratio -9.2 Sharpe Ratio Incept -10.24 Sharpe Ratio 66.3 UNIVERSE -16.26 Sharpe Ratio 86 Sharpe Ratio
3 Yr -9.52   Treynor Ratio 19.7 -11.3 Treynor Ratio POLICY -21.27   Treynor Ratio 14.45 Treynor Ratio 2001 FUND #REF!
21.3 -10.46 Tracking Error 25.3 -12.47 Tracking Error 2007 Tracking Error 78 Tracking Error UNIVERSE
15.2 -12.55   Information Ratio 77.9 -14.88 Information Ratio 22.24 Information Ratio 22.93 Information Ratio POLICY #REF!
140.5 YTD Fund Returns in Down Markets YTD Fund 20 Fund 17.32 Fund
5 Yr -11.15 16 Fund -8.2 9 12.34 7 16.09 6
24 20 24 R1000G 7 19 72 9 14.63 10  
21.3 -12.46 57.5 Ratio -10.87 46.43 29.81 81.25 10.97 25 Batting Average
112.5 36 -15.47 3 Yr 29 -14.83 20.77 -9 2006 -8.08
10 Yr -9.12   22.14 -11.7 -7.98 10.88 2001 FUND 15.19   14.17 11.63 9.38
29.2 -12.07 37.61 -14.3 -10.64 25.71 UNIVERSE 11.98 23.17 46 17.46
26.4 -12.61   -31.06 81.3 -12.66 -22.33 POLICY 8.13   -5.64 14.62 -10.31 2000 FUND #REF!
110.6 -13.58 14.64 5 Yr -14.04 11.85 2006 11.85 9 8.1  N/A Standard Deviation
9/30/1992 -15.98   0.96 -15.2 -16.91 0.78 9.79 0.8 15.53 0.86   #REF! Beta
Incept 2007 2.35   -18.1 2007 0.76 0.0076 30 6.15 0.0615 13.04 -2.29 -0.0229 Annualized Alpha #REF!
26.8 26.79 0.91 84.1 18.2 0.9 9.92 0.89 11.24 0.81 R-Squared
25.5 1 0.15 7 Yr 55 -0.03 29 0.59 10.32 0.08
105.1 16.44 2.28 -22.5 19.35 -0.44 14.58 8.75 7.31 0.73
Returns in Down Markets 43 4.32 -29.5 46 4.95 10.38 4.85 2005 3.72
Fund 22.84   0.52 76.4 27.74 0.09 2000 FUND 7.72   1.11 11.29 -0.96
S&P 500 17.81 S&P 500 3/31/2000 21.53 R1000G UNIVERSE 4.83 FR2000 73 R1000V Policy
Ratio 16.27   15 Incept 18.79 10 POLICY 2.19   6 16.69 3 1999 FUND #REF!
3 Yr 15.53 25 -22.7 15.69 18 2005 10 23 13  N/A
-12.5 12.47   42.5 -33.5 10.15 53.57 20.95 18.75 24.1 75   #REF!
-13.7 2006 -17.28 67.7 2006 -19.41 35 -9.9 16.12 -8.72
91.3 13.06 21.13 3.97 15.14 17.95 14.09 12.74 10.38
5 Yr 9 38.41 70 34.55 63 23.99 11.06 19.1
-11.7 10.79 -26.62 6.03 -27.89 26.4 -13 7.98 -9.99
-14 29 14.54 49 14.51 21.72 14 2004 8.49 Standard Deviation
83.3 13.68   1 11.56 1 1999 FUND 19.25   1 23.92 1
10 Yr 10.94 0 8.5 0 N/A 16.53 0 18.34 0
-24.3 10.25   1 5.96 1   11.14   1 14.42 1 1998 FUND #REF!
-25.8 7.48 0 3.16 -0.05 2004 0.11 13.02 0.5  N/A
94.1 2.85   -0.04 -3.37 -0.77 21.5 1.6 8.08 4.21   #REF!
9/30/1992 2005 0 2005 0 31 0 2003 0
Incept 14.04 Diff 12.44 Diff 18.78 Diff 27.67 Diff
-23.8 38 1 67 -1 54 1 23.98 3
-25 12.25 -1 11.6 1 28.92 -1 21.95 -3
95 57 15 74 -7.14 22.49 62.5 19.27 -50
22.88 1.81 26.56 4.58 1998 FUND 19.1 0.9 15.84 0.64
15.79 1.01 18.97 -4.26 N/A 16.07 0.08 2002 -1
12.59   -0.8 14.4 -8.84   8.02   -0.82 -6.38 -1.64 #REF!
11.47 -4.44 11.48 5.56   2003 7.36 -15.42 -0.32
7.61   0.1 7.67 -2.66 48.25   -2.15 -18.95 -0.39 #REF!
2004 -0.04 2004 -0.22 34.58 -0.2 -20.72 -0.14
13.63 2.35 4.17 0.76 30.01 6.15 -24.03 -2.29
39 -0.09 90 -0.1 25.9 -0.11 2001 -0.19
13.87 0.15 7.51 0.02 19.17 0.48 5.47 -0.42
35 2.32 63 0.33 2002 7.15 -5.14 -3.48
19.71 4.32 17.89 4.95 6.59 4.85 -13.19 3.72
14.67 Incept Incept 11.72 Incept Incept -1.82 Incept -23.01 Incept
13.19   # of Negative Qtrs 8.74 # of Negative Qtrs -7.42   # of Negative Qtrs -27 # of Negative Qtrs  
10.23 # of Positive Qtrs 6.26 # of Positive Qtrs -12.12 # of Positive Qtrs 2000 # of Positive Qtrs
5.93   Batting Average 2.04 Batting Average -19.94   Batting Average 22.25 Batting Average  
2003 Worst Qtr 2003 Worst Qtr 2001 Worst Qtr 13.38 Worst Qtr
20.49 Best Qtr 18.73 Best Qtr 9.26 Best Qtr 8.39 Best Qtr
73 Range 75 Range -2.9 Range 3.08 Range
24.4 Worst 4 Qtrs 25.91 Worst 4 Qtrs -15.03 Worst 4 Qtrs -3.5 Worst 4 Qtrs
25 Standard Deviation 19 Standard Deviation -25.09 Standard Deviation Standard Deviation
29.75 Beta 34.24 Beta -41.08 Beta Beta
24.33 Annualized Alpha 24.4 Annualized Alpha 2000 Annualized Alpha Annualized Alpha
23.28 R-Squared 21.58 R-Squared 62.14 R-Squared R-Squared
20.05 Sharpe Ratio 18.63 Sharpe Ratio 39.49 Sharpe Ratio Sharpe Ratio
14.08 Treynor Ratio 13.1 Treynor Ratio 30.15 Treynor Ratio Treynor Ratio
2002 Tracking Error 2002 Tracking Error 19.95 Tracking Error Tracking Error
-7.86 Information Ratio -17.5 Information Ratio 9.11 Information Ratio Information Ratio
1 Fund Fund 18 Fund Fund Fund Fund
-20.49 17 -22.51 12 7 6
60   45 60 20 13 11
-10.38 Batting Average 53.23 -12.54 Batting Average 53.13 65 29.41
-17.12 -15.47 -18.67 -14.83 -9 -8.08
-19.82 22.14 -21.5 10.88 14.26 9.38
-21.16 37.61 -24.59 25.71 23.26 17.46
-25.68 -31.06 -30.7 -30.55 -5.64 -10.31
2001 Standard Deviation 13.52 2001 Standard Deviation 12.93 11.55 8
-31.06 Beta 0.96 -30.55 Beta 0.69 0.72 0.87
84 Annualized Alpha 1.65 0.0165 14 Annualized Alpha 2.19 0.0219 4.73 0.0473 0.000473 -1.91 -0.0191
-26.62 R-Squared 0.91 -45.64 R-Squared 0.87 0.85 0.81
52 0.54 74 -0.34 1.12 0.19
-12.56 7.55 -27.62 -6.32 17.9 1.71
-20.73 4.2 -33.35 7.28 6.01 3.66
-26.57 0.31 -38.5 0.54 0.17 -0.86
-28.89 Policy S&P 500 -46.64 Policy R1000G FR2000 R1000V
-35.02 16 -56.07 14 6 3
2000 46 2000 18 14 14
16.14 46.77 47.93 46.87 35 70.59
30 -17.28 27.65 -21.35 -9.9 -8.72
13.28 21.13 19.97 15.14 23.42 10.38
46 38.41 13.09 36.49 33.32 19.1
27.56 -26.62 7.83 -45.64 -13 -9.99
17 Standard Deviation 13.39 Standard Deviation 17.57 14.71 8.32
13.02 1 1 1 1
9.15 0 0 0 0
1.34 1 1 1 1
0.44 -0.47 0.81 0.56
5.93 -8.28 11.87 4.65
0 0 0 0
Diff Diff Diff Diff
1 -2 1 3
-1 2 -1 -3
6.46 6.26 30 -41.18
1.81 6.52 0.9 0.64
1.01 -4.26 -9.16 -1
-0.8 -10.78 -10.06 -1.64
-4.44 15.09 7.36 -0.32
0.13 -4.64 -3.16 -0.32
-0.04 -0.31 -0.28 -0.13
1.65 2.19 4.73 -1.91
-0.09 -0.13 -0.15 -0.19
0.1 0.13 0.31 -0.37
1.62 1.96 6.03 -2.94
4.2 7.28 6.01 3.66
-0.09
0.02
0.64
4.32