Hollywood Police Officers' Pension Fund
Compliance Report
September 30, 2009
YES NO
TOTAL FUND RETURNS
           
1. Did the total 3-year return exceed the policy, which is comprised of 24% S&P500, 10% R1000G, 7% R1000V, 4% R2000, 5% S&P Mid. 400, 23% BCIGC, 23% BCGC and 4% T-Bill? [1.28 vs. 0.36]
2. Did the total 5-year return exceed the policy, which is comprised of 24% S&P500, 10% R1000G, 7% R1000V, 4% R2000, 5% S&P Mid. 400, 23% BCIGC, 23% BCGC and 4% T-Bill? [3.97 vs. 3.20]
COMBINED EQUITY
1. Is the amount invested in all issuing companies less than 5% of the Fund's total market value?
2. Is the aggregate investment in all companies 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?
INDIVIDUAL  EQUITY
Inverness
1. Did the equity return equal or exceed the S&P500 over the trailing 3-year period?                                                                  [-2.81 vs. -5.43]
2. Did the equity return equal or exceed the S&P500 over the trailing 5-year period?                                        [3.43 vs. 1.02]
3. Is Inverness' trailing 5-year standard deviation below the standard deviation of the S&P500?                                      [15.84 vs. 15.82]
4. Did the 3-year equity return rank in the top 50% of the Mobius Broad Large Cap Core Universe?   [16th]
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INDIVIDUAL EQUITY (continued)
5. Did the 5-year equity return rank in the top 50% of the Mobius Broad Large Cap Core Universe?   [12th]
6. Did the equity return rank in the top 75% of the Mobius Broad Large Cap Core Universe for one of the last 2 quarters or for the last year? [this quarter: 74th]
7. Did Inverness' equity performance fall outside the southeast quadrant of the risk/return scattergram over the 3-year period? 
8. Did Inverness' equity performance fall outside the southeast quadrant of the risk/return scattergram over the 5-year period? 
9. Has Inverness' trailing 3-year equity return outperformed its index for at least 1 of the last 4 quarters? [-2.81 vs. -5.43; -5.46 vs. -8.22. -9.72 vs. -13.06, -4.70 vs. -8.36]
10. Has Inverness' trailing 5-year equity return outperformed its index for at least 1 of the last 4 quarters?  [3.43 vs. 1.02; 0.21 vs. -2.24, -1.75 vs. -4.76, 0.40 vs. -2.19]
11. Has Inverness' equity annualized alpha been positive for the last 3 years? [2.64]
Davis Hamilton Jackson
1. Did the equity return equal or exceed its R1000G index during the trailing 3-year period?                           [-2.42 vs. -2.50]
2. Did the equity return equal or exceed its R1000G index during the trailing 5-year period?                                 [1.67 vs. 1.86]
3. Is DHJ trailing 5-year standard deviation below the standard deviation of its R1000G index?                                                                                               [15.03 vs. 16.04]
4. Does the 3-year equity return rank in the top 50% of the Mobius Broad Large Cap Growth Conservative Universe? [34th]
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INDIVIDUAL EQUITY (continued)
5. Did the equity return rank in the top 75% of the Mobius Broad Large Cap Growth Universe for one of the last 2 quarters or for the last year? [1-Year: 72nd]
6. Has DHJ equity performance fallen outside the southeast quadrant of the risk/return scattergram over the 3-year period?
7. Has DHJ quarterly equity return outperformed its index for at least 1 of the last 4 quarters?                                          [12.14 vs. 13.97; 13.89 vs. 16.32, -3.07 vs. -4.12, -23.43 vs. -22.79]
8. Has DHJ equity annualized alpha been positive for the last 3 years? [-0.24]
Eagle Asset Management
1. Did the equity return equal or exceed its R2000 index during the trailing 3-year period?                           [-1.83 vs. -4.57]
 
2. Did the equity return equal or exceed its R2000 index during the trailing  5-year period?                           [4.67 vs. 2.41]
3. Is Eagle's trailing 3-year standard deviation below the standard deviation of its R2000 index?                                                                                               [20.85 vs. 24.30]
4. Does the 5-year equity return rank in the top 50% of the Mobius Broad Small Cap Universe?                       [23rd]
5. Did the equity return rank in the top 75% of the Mobius Broad Small Cap Universe for one of the last 2 quarters or for the last year? [1yr: 83rd]
 
6. Has Eagle's equity performance fallen outside the southeast quadrant of the risk/return scattergram over the 3-year period? 
7. Has Eagle's quarterly equity return outperformed its index for at least 1 of the last 4 quarters?                    [15.67 vs. 19.28; 13.29 vs. 20.69, -11.17 vs. -14.95, -22.88 vs. -26.12]
8. Has Eagle's equity annualized alpha been positive for the last 3 years? [1.79]
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INDIVIDUAL EQUITY (continued)
Buckhead
1. Did the equity return equal or exceed its R1000V index during the trailing 3-year period?                           [-5.13 vs. -7.87]
2. Did the equity return equal or exceed its R1000V index during the trailing 5-year period?                           [1.18 vs. 0.90]
3. Is the Buckhead trailing 3-year standard deviation below the standard deviation of its R1000V index?  [17.01 vs. 20.95]
4. Does the 3-year equity return rank in the top 50% of the Mobius Broad Large Cap Value Core Universe? [19th]
5. Did the equity return rank in the top 75% of the Mobius Broad Large Cap Value Core Universe for one of the last 2 quarters or for the last year?  [1-Year: 15th]
6. Has Buckhead's equity performance fallen outside the southeast quadrant of the risk/return scattergram over the 3-year period? 
7. Has Buckhead's quarterly equity return outperformed its index for at least 1 of the last 4 quarters?           [14.76 vs. 18.24; 13.35 vs. 16.70, -9.51 vs. -16.77, -19.01 vs. -22.18]
8. Has Buckhead's equity annualized alpha been positive for the last 3 years? [0.89]
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INVERNESS FIXED INCOME
1. Did the 3-year fixed income return exceed the policy (50% BCIGC, 50% BCGC)?  [7.27 vs. 6.21]
2. Did the 5-year fixed income return exceed the policy (50% BCIGC, 50% BCGC)?  [5.44 vs. 4.80]
3. Did the 3-year total fixed income return rank in the top 50% of the Fixed Income Universe (50% Broad Fixed & 50% Intermediate)? [3rd]
4. Did the 5-year total fixed income return rank in the top 50% of the Fixed Income Universe (50% Broad Fixed & 50% Intermediate)? [5th]
5. Are all fixed income investments ranked in the highest four categories by Standard and Poors, Moody's, or Fitch's Manual?
6. Has Inverness' fixed income performance fallen outside the southeast quadrant of the risk/return scattergram over the 5-year period?
7. Has Inverness' trailing 3-year fixed income returns outperformed its index for at least 1 of the last 4 quarters?  [7.27 vs. 6.21; 7.10 vs. 6.16, 5.74 vs. 5.55, 5.35 vs. 5.54]
8. Has Inverness' trailing 5-year fixed income returns outperformed its index for at least 1 of the last 4 quarters?  [5.44 vs. 4..80; 5.24 vs. 4.69, 3.96 vs. 3.72, 4.32 vs. 4.43]
9.
Has Inverness' fixed income annualized alpha been positive over rolling 3-year periods? [0.36]
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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?
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 experienced any significant loss of business?
4. Has DHJ experienced any significant increase in business? (Gained $56.9M, 3.26% of AUM)
5. Has DHJ undergone any change in ownership and/or control?
Eagle Asset Management
1. Have there been any material changes in Eagle's organization, investment philosophy and/or personnel? 
2. Have there been any changes in Eagle's professional staff? 
3. Has Eagle experienced any significant loss of business?
4. Has Eagle experienced any significant increase in business?(Gained $33.3M in assets)
5. Has Eagle undergone any change in ownership and/or control?
Buckhead Capital Management
1. Have there been any material changes in Buckhead's organization, investment philosophy and/or personnel?   
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2.
Have there been any changes in Buckhead's professional staff? 
3. Has Buckhead experienced any significant loss of business?
4. Has Buckhead experienced any significant increase in business?(Gained $120M, 6.6%)
5. Has Buckhead undergone any change in ownership and/or control?
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