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 LOCK BUCKHEAD TOTAL EQ EXECUTIVE HERE LOCK LOCK BUCKHEAD TOTAL EQ UNIVERSE HERE(P1) BUCKHEAD TOTAL EQ UNIVERSE HERE(p2) 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 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) Buckhead Gross Total (Equity + Cash) Buckhead Gross Total (Equity + Cash) Buckhead Gross Total (Equity + Cash) Buckhead Gross 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
47 Broad Large Cap Core Broad Large Cap Core 55 57 Broad Large Cap Growth Core Broad Large Cap Growth Core 63 65 Broad Small Cap Broad Small Cap 71 73 Broad Large Cap Value Core Broad Large Cap Value Core 79
Inception date is September 30, 1992 49 50 3 Yr Inception date is March 31, 2000 59 60 3 Yr Inception date is March 31, 2003 67 68 Incept 1 Yr Inception date is December 31, 2003 75 76 1 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, 2006 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2000 to March 31, 2006 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2003 to March 31, 2006 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is December 31, 2003 to March 31, 2006 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through March 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2006 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 R1000G Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund FR2000 Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund R1000V Best Qtr
Net Flows 75-95th %tile Fund S&P 500 -40.00% Range Net Flows 75-95th %tile Fund R1000G -75.00% Range Net Flows 75-95th %tile Fund FR2000 -50.00% Range Net Flows 75-95th %tile Fund R1000V -30.00% Range
Investment G/L -10.00% -30.00% Worst 4 Qtrs Investment G/L -10.00% -50.00% Worst 4 Qtrs Investment G/L 5.00% -25.00% Worst 4 Qtrs Investment G/L 0.00% -20.00% Worst 4 Qtrs
Ending Value -5.00% -20.00% Standard Deviation Ending Value -5.00% -25.00% Standard Deviation Ending Value 10.00% 0.00% Standard Deviation Ending Value 5.00% -10.00% Standard Deviation
3/31/2006 0.00% -10.00% Beta 3/31/2006 0.00% 0.00% Beta 3/31/2006 15.00% 25.00% Beta 3/31/2006 10.00% 0.00% Beta
Qtr 5.00% 0.00% Annualized Alpha Qtr 5.00% 25.00% Annualized Alpha Qtr 20.00% 50.00% Annualized Alpha Qtr 15.00% 10.00% Annualized Alpha
63,531 10.00% 10.00% R-Squared 23,066 10.00% 50.00% R-Squared 8,479 25.00% 75.00% R-Squared 11,946 20.00% 20.00% R-Squared
93 15.00% 20.00% Sharpe Ratio -17 15.00% 75.00% Sharpe Ratio -18 30.00% 100.00% Sharpe Ratio -17 25.00% 30.00% Sharpe Ratio
4,212 20.00% 30.00% Treynor Ratio 643 20.00% Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 1,028 35.00% Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 507 Qtr YTD 1 Yr 2 Yr Incept 40.00% Treynor Ratio
67,835 25.00% 40.00% Tracking Error 23,692 25.00% Fiscal Year Returns Ending September Tracking Error 9,490 40.00% Fiscal Year Returns Ending September Tracking Error 12,435 Trailing Returns through March 31, 2006 Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Tracking Error
2006 30.00% 50.00% Information Ratio 2006 30.00% Fund Information Ratio 2006 Qtr YTD 1 Yr 2 Yr Incept Fund Information Ratio 2006 Fund Fiscal Year Returns Ending September 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 2005 2004 2003 2002 2001 2000 1999 1998 Fund YTD 35.00% Return Fund YTD Trailing Returns through March 31, 2006 Return Fund Fund YTD Return Fund Fund
61,936 Trailing Returns through March 31, 2006 Fiscal Year Returns Ending September 3 22,361 2 Qtrs 3 Qtrs 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr %-tile 3 8,379 Fund %-tile 0 11,618 %-tile Return 0
482 Fund Fund 9 -33 Trailing Returns through March 31, 2006 R1000G 9 -35 Return FR2000 4 -34 R1000V %-tile 4
5,417 Return Return 41.67 1,364 Fund Return 33.33 1,146 %-tile Return Batting Average 50 851 Return R1000V 25
67,835 %-tile %-tile -1.92 23,692 Return %-tile -4.92 9,490 FR2000 %-tile 1.41 12,435 %-tile Return 0.39
9/30/1992 S&P 500 S&P 500 12.92 3/31/2000 %-tile Universe 11.01 3/31/2003 Return Universe 12.13 12/31/2003 Universe %-tile 4.25
Incept Return Return 14.84 Incept R1000G 5th %-tile 15.93 Incept %-tile 5th %-tile 10.72 Incept 5th %-tile Universe 3.86
  18,638 %-tile %-tile 5.29 10,795 Return 25th %-tile 3.94 4,822 Universe 25th %-tile 25.17 7,800 25th %-tile 5th %-tile 9.04  
-24,821 Universe Universe 9 13,557 %-tile 50th %-tile 9.04 -172 5th %-tile 50th %-tile Standard Deviation 12.37 2,391 50th %-tile 25th %-tile 5.94
74,018 5th %-tile 5th %-tile 0.98 -660 Universe 75th %-tile 0.94 4,840 25th %-tile 75th %-tile Beta 0.8 2,245 75th %-tile 50th %-tile BETA 0.66
67,835  67,835,000  25th %-tile  25th %-tile 0.87 23,692  23,692,000 5th %-tile 95th %-tile -0.96 9,490    9,490,000 50th %-tile 95th %-tile Annualized Alpha 3.94 0.0394 12,435           12,435,000 95th %-tile 75th %-tile ALPHA 0.47 0.0047 #REF!
Investment Policy 50th %-tile 50th %-tile 0.89 Investment Policy 25th %-tile Qtr 0.94 Investment Policy 75th %-tile Qtr R-Squared 0.94 Investment Policy Qtr 95th %-tile 0.51
Index 75th %-tile 75th %-tile 1.76 Index 50th %-tile QU. FUND 2.79 0.0279 1.2 Index 95th %-tile QU. FUND 12.13 0.1213 1.75 Index 4.25 0.0425 Qtr 0.94
S&P 500 95th %-tile 95th %-tile 16.12 Russell 1000 Growth 75th %-tile UNIVERSE 81   11.52 Russell 2000 Qtr UNIVERSE 42   27.12 Russell 1000 Value 48   4.25 0.0425 8.44
Total 1 Yr Qtr 2.99 Total 95th %-tile POLICY 3.09 0.0309 2.22 Total 12.13 0.1213 POLICY 13.94 0.1394 4.22 Total 5.93 0.0593 48   4.7
Weight 15.28 0.1528 6.59 0.0659 0.2 Weight 2 Qtrs 75 -0.88 Weight 42 20 -0.16 Weight 16 5.93 0.0593 -0.91
100 1 Yr FUND 22   QU. FUND 10   S&P 500 100 6.1 8.81 R1000G 100 13.94 0.1394 16.37 Policy FR2000 100 7.18 16 R1000V
100 UNIVERSE 11.73 0.1173 UNIVERSE 4.21 0.0421 2 100 76 5.33 2 100 20 13.37 0 100 5.29 7.18 0
Trailing Returns through March 31, 2006 POLICY 58 POLICY 50 10 Trailing Returns through March 31, 2006 6.16 4.22   10 Trailing Returns through March 31, 2006 16.37 11.65   4 Trailing Returns through March 31, 2006 4.19 5.29 4
Fund 20.99 7.3 58.33 Fund 76 3.07 66.67 Fund 13.37 9.2 50 Fund 3.81 4.19 75
S&P 500 14.78 5.2 -2.15 R1000G 14.15 1.22   -5.23 FR2000 11.65 6.53   1.13 R1000V 2.53   3.81 1.26
Diff 12.24 4.19 15.39 Diff 8.94 YTD 14.31 Diff 9.2 YTD 13.94 Diff YTD 2.53   5.93
1 Yr 11.05 3.57   17.54 1 Yr 7.3 6.1 19.54 1 Yr 6.53 13.71 12.81 1 Yr 7.34   YTD 4.67 1 Yr FUND #REF!
15.28 7.68 1.88 4.91 1/11/1900 6.17 76 1.16 1/25/1900 YTD 46 25.85 1/9/1900 22 7.34   13.31 UNIVERSE
11.73 2 Yr YTD   8.66 13.14 4.64 6.16 9.29 25.85 13.71 15.23 Standard Deviation 14.91 13.31 7.27 22 6.48 POLICY #REF!
3.55 11.54 8.62 1 -1.76 3 Qtrs 76 1 -0.68 46 27 1 -4.27 23 7.27 1
2 Yr 20 15 0 2 Yr 9.79 14.15 0 2 Yr 15.23 19.04 0 2 Yr 9.63 23 0
11.54 9.18 6.38 1 1/7/1900 80 8.94 1 1/19/1900 27 15.32 1 1/8/1900 7.16 9.63 1
9.18 50 52 1.76 6.99 10.42 7.3 1.38 15.18 19.04 13.41 1.5 13.24 6.28 7.16 1.52
2.36 14.69 10.47 15.21 0.72 76 6.17 12.79 4.31 15.32 11.32 22.38 -4.56 5.64 6.28 9.84
3 Yr 10.93 7.65 0 3 Yr 20.86 4.64 0 3 Yr 13.41 7.33 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 3.31 5.64 0
1/17/1900 9.13 6.4 Diff 12.84 15.42 2005   Diff 1/26/1900 INCEPTION 11.32 2005   Diff 12/31/2003 1 Yr 3.31 Diff
Incept ROR 17.22 8.15 5.85 1   1/14/1900 12.06 2004 FUND 13.12 0.1312 1 1/29/1900 UNIVERSE 7.33 2004 FUND 21.9 0.219 0 Incept 9.04 0.0904 2005 0     
Fund 0.59 4.88 4.34 -1   -1.96 10.51 UNIVERSE 55   -1 -3.21 POLICY 1 Yr UNIVERSE 23   0 9.55 85   11.9 0.119 0     
Policy 4 Yr 3 Yr 2005 -16.66   4 Yr 7.73 POLICY 11.6 0.116 -33.34 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 25.17 0.2517 POLICY 17.95 0.1795 0 13.17 13.31 0.1331 62   -50    
7.13 17.81 0.1781 14.04   0.23 1/2/1900 1 Yr 71 0.31 3/31/2003 37 63 0.28 -3.62 24 16.69 0.1669 -0.87
4.92 3 Yr FUND 38   2004 FUND 38 -2.47 1/2/1900 1 Yr FUND 11.38 0.1138 25.77 -3.3 Incept 25.85 0.2585 26.4 -1.81 Fiscal Year Returns Ending September 19.34 23 -1.68
2.21 UNIVERSE 17.22 0.1722 UNIVERSE 12.25 -2.7 0.31 UNIVERSE 84 18.07 -3.61 26.32 31 21.72 -2.09 Fund 13.16 24.1 -0.81
5 Yr POLICY 46 POLICY 57 0.38 5 Yr POLICY 13.14 0.1314 13.56   2.78 29.53   32.78 19.25   -0.68 R1000V 11.43 16.12 -4.27
7.35 23.87 22.88 0.34 1/2/1900 70 11.02 -0.25 ################################# 26.96 16.53 -2.54 Diff 10.31 12.74   -0.54
3.97 19.16 15.79 -0.02 1.66 25.95 7.76   -0.06 Fiscal Year Returns Ending September 23.53 11.14   -0.2 3/31/2006 6.52   11.06 -0.34
3.38 16.94 12.59 0.87 1.06 19.14 2004   -0.96 Fund 20.22 2004   3.94 Qtr 2 Yr 7.98   0.47
6 Yr 15.55 11.47 -0.11 6 Yr 15.12 2003 FUND 4.69 0.0469 -0.06 FR2000 3 Yr FUND 14.74 2003 FUND 22.46 0.2246 -0.06 4.25 8.68 0.0868 2004   -0.49 3 Yr FUND #REF!
0.68 12.54 7.61 0 -2.04 12.77 UNIVERSE 87   -0.18 Diff UNIVERSE 2 Yr UNIVERSE 26   0.25 1/5/1900 72   23.92 0.2392 -0.58  N/A
-0.83 4 Yr 2004 0.91 ############################## 9.3 POLICY 7.51 0.0751 -1.27 3/31/2006 POLICY 19.49 0.1949 POLICY 18.78 0.1878 4.74 -1.68 13.24 0.1324 18.34   -1.4   #REF!
1.51 7.13 13.63 2.99 5.57 2 Yr 61 2.22 Qtr 9 54 4.22 2006 14 14.42 0.1442 4.7
7 Yr 19 2003 FUND 39 5 Yr 7 Yr 8 Yr 9 Yr 10 Yr 7.71 0.0771 15.25 4 Yr 12.13 15.18 0.1518 28.92 2 Yr YTD 16.15 13.02 2 Yr
3.92 4.92 UNIVERSE 13.87 5 Yr # of Negative Qtrs 3/31/2000 69 11.67 # of Negative Qtrs 13.94 47 22.49 # of Negative Qtrs 7.34 11.11 8.08 # of Negative Qtrs
1/1/1900 46 POLICY 35 # of Positive Qtrs Incept 6.99 0.0699 8.28 # of Positive Qtrs ################################# 20.45 19.1 # of Positive Qtrs 1/7/1900 9.2 2003 # of Positive Qtrs
2.28   10.51 19.71 Batting Average ############################## 78 6.32 Batting Average 6/28/1905 16.88 16.07 Batting Average 1/0/1900 8.6 27.67 Batting Average
8 Yr   6.43 14.67 Worst Qtr -7.61 17.93 2.06 Worst Qtr YTD 14.87 8.02 Worst Qtr 2005 5.78 23.98 Worst Qtr
1/5/1900 4.72 13.19 Best Qtr 1/5/1900 11.86 2003   Best Qtr 1/13/1900 12.53 2003   Best Qtr 1/11/1900 Incept 21.95 Best Qtr
3.64 3.67 10.23 Range Fiscal Year Returns Ending September 9.22 2002 FUND 19.31 0.1931 Range 1/15/1900 9.14 2002 FUND 48.25 0.4825 Range 1/16/1900 9.55 19.27   Range
1.48 1.18 5.93 Worst 4 Qtrs Fund 7.31 UNIVERSE 63   Worst 4 Qtrs -1.52 Incept UNIVERSE 34.58   Worst 4 Qtrs -4.79 46   15.84 Worst 4 Qtrs
9 Yr 5 Yr   2003 Standard Deviation R1000G 4.54 POLICY 25.91 0.2591 Standard Deviation 2005 26.32 POLICY 30.01 0.3001 Standard Deviation 2004 2003 2002 2001 2000 1999 1998 1997 13.17 0.46 2002   Standard Deviation 5 Yr FUND
8.91 7.35 0.0735 20.49 Beta Diff 3 Yr 17 Beta 1/21/1900 58 25.9 Beta Returns in Up Markets 14   -6.38 Beta  N/A
7.81 5 Yr FUND 14   2002 FUND 73 Annualized Alpha 3/31/2006 3 Yr FUND 12.84 0.1284 30.61 Annualized Alpha 17.95 29.53 19.17 Annualized Alpha Fund 16.53 0.14 -15.42 Annualized Alpha  
1.1 UNIVERSE 3.97 0.0397 UNIVERSE 24.4 R-Squared Qtr UNIVERSE 91 23.77 R-Squared 3.95 26 2002 R-Squared R1000V 11.57 -18.95 R-Squared
10 Yr POLICY 47 POLICY 25 Sharpe Ratio 2.79 POLICY 14.8 0.148 20.39   Sharpe Ratio 2004 34.49 6.59   Sharpe Ratio Ratio 9.16 -20.72 Sharpe Ratio
9.87 10.98 29.75 Treynor Ratio 3.09 73 18.37 Treynor Ratio 22.46 29.68 -1.82 Treynor Ratio 1 Yr 8.43 -24.03   Treynor Ratio
1/8/1900 5.42 24.33 Tracking Error ############################## 25.44 14.19   Tracking Error 1/18/1900 27.45 -7.42   Tracking Error 1/9/1900 6.19   2001 Tracking Error
0.9 3.8 23.28 Information Ratio 2006 19.79   2002   Information Ratio 3.68 24.73 -12.12   Information Ratio 13.3 5.47   Information Ratio
9/30/1992 2.83 20.05 Fund Fund YTD 16.58 2001 FUND -17.07 -0.1707 Fund 2003 2002 2001 2000 1999 1998 1997 5 Yr FUND 21.19 2001 FUND -19.94 -0.1994 Fund 67.9   -5.14   Fund #REF!
Incept -0.24 14.08 7 6.1 14.44 UNIVERSE 15   6 Returns in Up Markets N/A 23.32 UNIVERSE 2001   2 2 Yr   -13.19 -0.27 2
11.64 6 Yr 2002 13 6.16 12.4 POLICY -22.51 -0.2251 10 Fund   18.94 POLICY 9.26 0.0926 6 8.7 0 -23.01   6 #REF!
10.94 0.68 -7.86 Batting Average 55 -0.06 4 Yr 63 37.5 FR2000 -2.9 75 1/13/1900   -27 0.2225 25
0.7 37 2001 FUND 1 -15.47 2005 2.91 0.0291 -12.11 -14.71 Ratio -15.03 -3.18 65.6 0 2000 -0.99
Fiscal Year Returns Ending September -0.83 UNIVERSE -20.49 14.77 13.12 66 -19.07 11.01 1 Yr -25.09 14.37 12/31/2003 22.25 9.53
Fund 52 POLICY 60 30.24 1/11/1900 2.6 0.026 -21.45 25.72 1/25/1900 -41.08 17.55 Incept 13.38 10.52
S&P 500 10.78 -10.38 -19.42 1.52   71 -23.71 -21.93 25.8 2000 8.08 9.5 8.39 5.18
Diff 2.99 -17.12 Standard Deviation 13.62 2004   11.65 -29.04 12.17 97.4 62.14 11.94 13.2 3.08 6.66
3/31/2006 -0.79 -19.82 Beta 0.94 4.69 6.53 2001   0.85 2 Yr 39.49   Beta 0.74 72.5 -3.5 0.76
Qtr -2.28 -21.16 Annualized Alpha 3.53 0.0353 7.51 4.25 2000 FUND -30.23 -0.3023 0.62   30.8 2000 FUND 30.15 0.3015 Alpha 7.47 0.0747   Returns in Down Markets 1999   -1.08 -0.0108  
6.59 -6.7 -25.68 R-Squared 0.92   -2.82 2.13 UNIVERSE 7   0.93 27.7 UNIVERSE 19.95   0.9 Fund   28.08 0.1547 0.67
4.21 7 Yr 2001 0.38 2003 0.2 POLICY -45.64 -0.4564 0.08 111.2 POLICY 9.11 0.0911 1.42 R1000V 0 20.54   0.92
2.38 3.92 -31.06 5.54 19.31 5 Yr 84 1.19 3/31/2003 1999 22.93 Ratio   15.47 0.0446 8.11
2006 27 2000 FUND 84 4.02 25.91 5 Yr FUND 2.72 0.0272 -29.08 3.79 Incept 50.94 5.47 1 Yr 2 Yr 0 11.7 4.22
YTD 1.64 UNIVERSE -26.62 0.84 -6.6 UNIVERSE 50 -35.09 0.08 34.8 31.67 0.79 12/31/2003 4.46 -1.08
8.62 55 POLICY 52 Policy S&P 500 2002 POLICY 1.66 0.0166 -38.5 R1000G 41.1 21.4 FR2000 Incept 1998 R1000V
6.38 12.3 -12.56 6 ############################## 63 -43.41 5 84.8 11.57 2 9.83 0
2.24 4.11 -20.73 14 -22.51 12.79 -51.41 11 Returns in Down Markets 1.61 6 6.07 8
2005 1.82 -26.57 45 5.44 5.06 2000 62.5 Fund 1998 25 1.83 75
14.04 0.89 -28.89 -17.28 2001 2.65 46.3 -18.67 FR2000 -1.61 -5.34 -0.8 0.09
12.25 -1.74 -35.02 15.39 -30.23 0.7 27.14 14.31 Ratio -9.72 14.09 -5.82 10.38
1/1/1900 8 Yr 2000 32.67 -45.64 -1.67 20.88 32.98 1 Yr 2 Yr -16.12 19.43 10.29
2004 5.12 16.14 -24.76 15.41 6 Yr 14.34 -26.76 -4.5 -20.15 4.55 7.05
13.63 20 30 13.87 2000 1999 1998 1997   -2.04 8.45 13.9 -8 -27.66 15.21 7.18
1/13/1900 3.64 13.28 Standard Deviation 1 Returns in Up Markets 35 1999 1 2/25/1900   1 1
################################### 42 46 0 Fund -7.61 38.21 0 3/31/2003 0 0
2003 9.32 27.56 1 R1000G 84 31.55 1 Incept   1 1
20.49 4.58 17 0.13 Ratio 8.43 27.96 0.05 -4.5 0.83 1.49
24.4 3.41 13.02 1.83 3 Yr -0.68 26.33 0.7 -8 12.66 10.72 QU. FUND #REF!
-3.91 2.58 9.15 0 19.4 -4.03 20.01 0 56.3 0 0 UNIVERSE
2002 0.16 1.34 Diff 22.6 -6.56 1998 Diff Diff Diff POLICY #REF!
-7.86 9 Yr 1999 1 85.7 -9.32 16.52 1 0 2
-20.49 8.91 30.59 -1 4 Yr 7 Yr 9.1 -1 0 -2
12.63 20 19 10 20 13.16 7.45 -25 50 -50
2001 7.81 26.68 1.81 23.4 3.41 2.95 3.96 2.16 -1.08
-31.06 35 41 -0.62 85.5 0.69 -4.96 -3.3 0.28 -0.85
-26.62 12.67 36.18   -2.43 5 Yr -1.12 -7.26 QU. FUND   -1.88 0.23
-4.44 8.4 28.77 5.34 1/21/1900 -3.91 4.83 UNIVERSE 3.53 -1.87
2000 7.42 24.51   -0.25 27.9 8 Yr -1.73 POLICY   -3.27 -0.52
16.14 6.33 16.71 -0.06 77.8 9.38 -0.15 -0.26 -0.24
13.28 4.24 9.03 3.53 3/31/2000 4.98 0.62 7.47 -1.08
2.86 10 Yr 1998 -0.08 Incept 2.88 -0.07 -0.1 -0.33
1999 9.87 6.61 0.25 21.7 1.2 0.03 0.59 -0.57
30.59 19 31 3.71 27.9 -0.77 0.49 10.27 -2.61
26.68 8.97 10.1 4.02 77.8 4.64 3.79 5.47 4.22
1/3/1900 30 13 10 Yr Returns in Down Markets 2.32 5 Yr Incept Incept Incept
1998 12.29 15.53 # of Negative Qtrs Fund # of Negative Qtrs # of Negative Qtrs # of Negative Qtrs
6.61 9.28 7.46 # of Positive Qtrs R1000G # of Positive Qtrs # of Positive Qtrs # of Positive Qtrs
10.1 8.34 3.17   Batting Average Ratio Batting Average Batting Average Batting Average 2002 FUND #REF!
-3.49 7.09 -0.89 Worst Qtr 3 Yr Worst Qtr Worst Qtr Worst Qtr UNIVERSE
1997 5.02 -8.95   Best Qtr -7.7 Best Qtr Best Qtr Best Qtr POLICY #REF!
35.14 6.17 27.93 Range -9.1 Range Range Range
40.62 8.4 Worst 4 Qtrs 3/24/1900 Worst 4 Qtrs Worst 4 Qtrs Worst 4 Qtrs
-5.48 6.23 Standard Deviation 4 Yr Standard Deviation Standard Deviation Standard Deviation
Returns in Up Markets Beta -26.6 Beta Beta Beta
Fund Annualized Alpha -31.7 Annualized Alpha Annualized Alpha Annualized Alpha
S&P 500   R-Squared 84 R-Squared 2002 FUND   R-Squared R-Squared
Ratio Sharpe Ratio 5 Yr Sharpe Ratio UNIVERSE Sharpe Ratio Sharpe Ratio
3 Yr   Treynor Ratio -25.1 Treynor Ratio POLICY   Treynor Ratio Treynor Ratio 2001 FUND #REF!
22.8 Tracking Error -33.7 Tracking Error Tracking Error Tracking Error UNIVERSE
23   Information Ratio 74.4 Information Ratio Information Ratio Information Ratio POLICY #REF!
99 Fund 3/31/2000 Fund Fund Fund
5 Yr 13 Incept 7 2 2
25.8 27 -24.2 13 10 7  
24.2 52.5 -37.1 40 50 33.33 Batting Average
106.6 -15.47 65.3 -14.71 -3.18 -0.99
10 Yr   22.14 11.01 2001 FUND   14.47 9.53
30.3 37.61 25.72 UNIVERSE 17.65 10.52
29.9   -31.06 -21.93 POLICY   8.08 5.18 2000 FUND #REF!
101.3 15.5 12.68 11.07 6.57  N/A Standard Deviation
9/30/1992   0.96 0.76 0.67 0.78   #REF! Beta
Incept 1.21   1.29 0.0129 6.22 0.0622 -0.46 -0.0046 Annualized Alpha #REF!
26.9 0.92 0.9 0.84 0.67 R-Squared
26.4 0.4 0.05 2.2 1.1
101.6 6.44 0.76 36.28 9.24
Returns in Down Markets 4.35 5.56 6.78 4.08
Fund   0.21 0.19 2000 FUND   -0.47 -0.89
S&P 500 S&P 500 R1000G UNIVERSE FR2000 R1000V Policy
Ratio   12 7 POLICY   2 0 1999 FUND #REF!
3 Yr 28 13 10 9  N/A
-2.1   47.5 60 50 66.67   #REF!
-4 -17.28 -19.41 -5.34 0.09
52.3 21.13 15.14 23.42 10.38
5 Yr 38.41 34.55 28.76 10.29
-25.9 -26.62 -27.89 4.55 7.05
-31.4 15.45 15.91 15.22 6.94 Standard Deviation
82.5   1 1 1999 FUND   1 1
10 Yr 0 0 N/A 0 0
-26.2   1 1     1 1 1998 FUND #REF!
-27.7 0.34 -0.03 1.81 1.56  N/A
94.5   5.28 -0.48 27.52 10.83   #REF!
9/30/1992 0 0 0 0
Incept Diff Diff Diff Diff
-25.4 1 0 0 2
-26.6 -1 0 0 -2
95.5 5 -20 0 -33.34
1.81 4.7 1998 FUND 2.16 -1.08
1.01 -4.13 N/A -8.95 -0.85
  -0.8 -8.83     -11.11 0.23 #REF!
-4.44 5.96   3.53 -1.87
  0.05 -3.23   -4.15 -0.37 #REF!
-0.04 -0.24 -0.33 -0.22
1.21 1.29 6.22 -0.46
-0.08 -0.1 -0.16 -0.33
0.06 0.08 0.39 -0.46
1.16 1.24 8.76 -1.59
4.35 5.56 6.78 4.08
Incept Incept Incept Incept
  # of Negative Qtrs # of Negative Qtrs    
# of Positive Qtrs # of Positive Qtrs
  Batting Average Batting Average    
Worst Qtr Worst Qtr
Best Qtr Best Qtr
Range Range
Worst 4 Qtrs Worst 4 Qtrs
Standard Deviation Standard Deviation
Beta Beta
Annualized Alpha Annualized Alpha
R-Squared R-Squared
Sharpe Ratio Sharpe Ratio
Treynor Ratio Treynor Ratio
Tracking Error Tracking Error
Information Ratio Information Ratio
Fund Fund Fund Fund
14 10
  40 14
Batting Average 50 Batting Average 50
-15.47 -14.71
22.14 11.01
37.61 25.72
-31.06 -30.23
Standard Deviation 14.01 Standard Deviation 13.88
Beta 0.96 Beta 0.67
Annualized Alpha 1.09 0.0109 Annualized Alpha 2.94 0.0294 0 0
R-Squared 0.91 R-Squared 0.87
0.56 -0.35
8.11 -7.19
4.26 8.19
0.16 0.68
Policy S&P 500 Policy R1000G
13 11
41 13
50 50
-17.28 -21.35
21.13 15.14
38.41 36.49
-26.62 -45.64
Standard Deviation 13.87 Standard Deviation 19.37
1 1
0 0
1 1
0.51 -0.54
7.09 -10.39
0 0
Diff Diff
1 -1
-1 1
0 0
1.81 6.64
1.01 -4.13
-0.8 -10.77
-4.44 15.41
0.14 -5.49
-0.04 -0.33
1.09 2.94
-0.09 -0.13
0.05 0.19
1.02 3.2
4.26 8.19
-0.09
0.02
0.64
4.32