HOLLYWOOD POLICE PDF
LOCK TOTAL FUND EXECUTIVE HERE LOCK LOCK TOTAL FUND UNIVERSE HERE(p1) LOCK TOTAL FUND UNIVERSE HERE(p2) LOCK TOTAL FUND RISK MEASURES LOCK LOCK TOTAL EQUITY EXECUTIVE HERE LOCK LOCK TOTAL EQUITY UNIVERSE HERE(p1) N/A LOCK LOCK TOTAL EQUITY RISK HERE LOCK LOCK TOTAL FIXED EXECUTIVE HERE LOCK TOTAL FIXED UNIVERSE HERE(p1) N/A LOCK LOCK TOTAL FIXED RISK MEAS. HERE LOCK
START @B3 Hollywood Police Pension Fund START @E3 Hollywood Police Pension Fund % Hollywood Police Pension Fund START @H3 Hollywood Police Pension Fund % START @N3 Hollywood Police Pension Fund START @Q3 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
Total Fund Total Net Returns Total Fund Total Net Returns Total Net Returns Total Fund Total Net Returns Total Equity Total Equity Returns Total Equity Total Equity Returns Total Equity Returns Total Equity Returns INVERNESS Bond Returns INVERNESS Bond Returns INVERNESS Bond Returns INVERNESS Bond Returns
Executive Summary Universe Universe Comparisons Universe Comparisons Risk Measures Risk Measures Executive Summary Universe Universe Comparisons Universe Comparisons Risk Measures Executive Summary Universe Comparisons Universe Comparisons Risk Measures
3 33%BLCC,10%BLCGC,7%BLCVC,4%BSC,23%BFI,23%IFI 33%BLCC,10%BLCGC,7%BLCVC,4%BSC,23%BFI,23%IFI 22 25 61.1%BLCC, 18.5%BLCGC, 13%BLCVC, 7.4%BSC 61.1%BLCC, 18.5%BLCGC, 13%BLCVC, 7.4%BSC 27 35 50% Broad FI, 50% Intermediate FI 50% Broad FI, 50% Intermediate FI 37
Inception date is September 30, 1992 5 6 3 Yr Inception date is September 30, 1992 26 40 3 Yr Inception date is September 30, 1992 36 29 3 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
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 net of fees. Incept is September 30, 1992 to March 31, 2007 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is September 30, 1992 to March 31, 2007 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is September 30, 1992 to March 31, 2007 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through March 31, 2007 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2007 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through March 31, 2007 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 Index Best Qtr Beginning Value Fund 75-95th %tile Fund Index Best Qtr Beginning Value Fund 75-95th %tile Fund Index Best Qtr
Net Flows 75-95th %tile Fund Index -20.00% Range Net Flows Return -40.00% Range Net Flows Return -5.00% Range
Investment G/L 0.00% -15.00% Worst 4 Qtrs Investment G/L %-tile -30.00% Worst 4 Qtrs Investment G/L %-tile 0.00% Worst 4 Qtrs
Ending Value 5.00% -10.00% Standard Deviation Ending Value Index -20.00% Standard Deviation Ending Value Index 5.00% Standard Deviation
3/31/2007 10.00% -5.00% Beta 3/31/2007 Return -10.00% Beta 3/31/2007 Return 10.00% Beta
Qtr 15.00% 0.00% Annualized Alpha Qtr %-tile 0.00% Annualized Alpha Qtr %-tile 15.00% Annualized Alpha
192,800 20.00% 5.00% R-Squared 120,647 Universe 10.00% R-Squared 63,278 Universe 20.00% R-Squared
-396 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 10.00% Sharpe Ratio -7,379 5th %-tile 20.00% Sharpe Ratio 6,456 5th %-tile 25.00% Sharpe Ratio
4,543 Trailing Returns through March 31, 2007 15.00% Treynor Ratio 3,524 25th %-tile 30.00% Treynor Ratio 1,154 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio
196,947 Fund 20.00% Tracking Error 116,792 50th %-tile 40.00% Tracking Error 70,889 50th %-tile Fiscal Year Returns Ending September Tracking Error
2007 Return 25.00% Information Ratio 2007 75th %-tile 50.00% Information Ratio 2007 75th %-tile Fund Information Ratio
YTD %-tile 30.00% Fund YTD 95th %-tile 60.00% Fund YTD 95th %-tile Return Fund
185,449 Index Qtr YTD 2006 2005 2004 2003 2002 2001 2000 1999 3 111,946 1 Yr Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 3 65,148 1 Yr %-tile 4
381 Return   Fiscal Year Returns Ending September 9 -4,666 11.09 0.1109 Fiscal Year Returns Ending September   9 3,878 6.53 0.0653 Index 8
11,117 %-tile Fund 58.33 9,512 27 Fund 50 1,862 24 Return 66.67
196,947 Universe   Return -1.25 116,792 11.15 0.1115 Return   -2.4 70,889 6.26 0.0626 %-tile -2.18
9/30/1992 5th %-tile %-tile 5.57 9/30/1992 26 %-tile 9.12 9/30/1992 33 Universe 3.46
Incept 25th %-tile Index 6.82 Incept 13.15 Index 11.52 Incept 8.26 5th %-tile 5.64
59,084 50th %-tile Return 4.49 18,638 11.2 Return 6.27 36,929 6.48 25th %-tile -0.51
4,624 75th %-tile %-tile 4.46 4,816 10.06 %-tile 7.39 -8,555 5.85 50th %-tile 2.92
133,238 95th %-tile Universe 1.02 93,338 8.61 Universe 0.97 42,515 5.36 75th %-tile 0.9
196,947  196,947,000 1 Yr 5th %-tile 0.43 116,792   116,792,000 5.59 5th %-tile 1.12 70,889    70,889,000                                                    5 95th %-tile 0.56
Investment Policy 8.68 0.0868 25th %-tile 0.91 Investment Policy 2 Yr 25th %-tile 0.94 Investment Policy 2 Yr Qtr 0.99
Index 33 0.33 50th %-tile ####### 0.91 Index 12.84 0.1284 50th %-tile 1.05 Index 4.26 0.0426 QU. FUND 0.1 0.001 -0.1
S&P 500 1 Yr FUND 8.93 0.0893 75th %-tile 3.96 S&P 500 15 75th %-tile 8.02 Lehman Gov/Credit-Intermediate 43 UNIVERSE 49 -0.32
Lehman Gov/Credit-Intermediate UNIVERSE 24 0.24 95th %-tile ####### 1.31 Russell 1000 Growth 12.18 0.1218   95th %-tile   1.84 Lehman Gov/Credit Bond 4.13 0.0413 POLICY 0.03 0.0003 0.43
Lehman Gov/Credit Bond POLICY 10.18 Qtr 0.44 Russell 1000 Value 31   Qtr 0.49 Total 51 59   0.7
Other 8.89 Qtr 2.37 0.0237 Index Russell 2000 1 Yr FUND 14.07 Qtr -1.98 -0.0198 Index Weight 6.44 0.61 Index
Weight 8.15 UNIVERSE 2 3 Weight UNIVERSE 12.44 UNIVERSE 29 3 50 4.64 0.31   4
33 7.36 POLICY 1.22 0.0122 9 61.1 POLICY 11.64 POLICY -1.9 -0.019 9 50 1 Yr FUND 4.14 0.09 8
23 5.46 46 41.67 18.5 10.78 26 50 100 UNIVERSE 3.71 -0.1 33.33
23 2 Yr 2.1 -1.67 13 9.29 -0.9 -2.46 Trailing Returns through March 31, 2007 POLICY 3.19 -0.36 -2.84
21 8.86   1.43 5.49 7.4 3 Yr -1.9   9.73 Fund 3 Yr YTD 3.55
Trailing Returns through March 31, 2007 21 1.17 7.16 Trailing Returns through March 31, 2007 11.12 0.1112 -2.42 12.19 Index 3.05 0.0305 0.07   6.39
Fund 8.49   0.95 3.54 Fund 17 -3.3   5.26 Diff 60 71 -0.86
Index 34 0.66 4.19 Index 10.22 0.1022 -4.73 7.38 1 Yr 2.75 0.0275 -0.12   3.23
Diff 9.74 YTD 1 Diff 39 YTD 1 6.53 76 81 1
1 Yr 8.7 6 0 1 Yr 12.31 6.28 0 6.26 5.55 2.16 0
8.68 8.13 20 1 11.09 10.64 12 1 0.27 3.82 1.15 1
8.93 7.63 5.44 0.83 11.15 9.86 5.07 0.93 2 Yr 3.23 0.49 -0.18
-0.25 6.85 45 3.47 -0.06 8.98 37 6.88 4.26 2.76 -0.05 -0.59
2 Yr 3 Yr 6.75 0 2 Yr 7.35 7.09 0 4.13 2.23 -0.53 0
8.86 7.38 0.0738 5.86 Diff 12.84 4 Yr   5.48 Diff 1/0/1900 4 Yr 2005 Diff
8.49 28 0.28 5.35 0 12.18 15.82 0.1582 4.59   0 3 Yr 3.93 2004 2.02 0.0202 0
0.37 3 YR FUND 6.81 0.0681 4.98 0 0.66 53 3.64   0 3.05 46 UNIVERSE 68 0
3 Yr UNIVERSE 54 0.54 4.36 16.66 3 Yr 16.34 0.1634 1.56     0 2.75 3.48 POLICY 2.02 0.0202 33.34
7.38 POLICY 8.25 2006   0.42 11.12 37 2005 0.06 0.3 66 68   0.66
6.81 7.42 2004 7.57 0.0757 0.08 10.22 3 YR FUND 18.82 2004 14.34 0.1434 -0.61 4 Yr 7.52 4.66 -0.09
0.57 6.85 UNIVERSE 18   -0.34 0.9 UNIVERSE 16.81 UNIVERSE 41 -0.67 3.93 4.68 2.94   -0.75
4 Yr 6.28 POLICY 7.18 0.0718 0.95 4 Yr POLICY 15.91 POLICY 13.15 0.1315 1.01 3.48 3 YR FUND 3.86 2.38 0.35
10 5.26 29 0.27 15.82 15 63 0.01 0.45 UNIVERSE 3.24 1.89 -0.31
10.37 4 Yr   8.32 0.02 16.34 12.97 18.21 -0.03 5 Yr POLICY 2.6 1.28 -0.1
-0.37 10 7.28 0.43 -0.52 5 Yr 15.44   1.12 5.55 5 Yr 2004 0.56
5 Yr 71   6.65 -0.09 5 Yr 7.5 0.075 13.73 -0.06 5.24 5.55 0.0555 2003 3.49 0.0349 -0.01
6.47 10.37 5.81 0.08 7.5 22 12.47   0.12 0.31 26 UNIVERSE 33 0.08
6.19 57 4.5 0.49 6.52 6.52 0.0652 9.75   1.14 6 Yr 5.24 0.0524 POLICY 3 0.03 0.27
0.28 12.35 2005   1.31 0.98 41 2004 1.84 5.56 37 49   0.43
6 Yr 11.27 2003 8.74 0.0874 5 Yr 5 Yr 6 Yr 8.78 2003 12.54 0.1254 5 Yr 5 Yr 5.18 7.2 7.43 5 Yr 5 Yr
6.37 10.54 UNIVERSE 46   # of Negative Qtrs 7.42 7.23 UNIVERSE 59 # of Negative Qtrs 0.38 5.56 3.83   # of Negative Qtrs
5.59 9.83 POLICY 8.03 0.0803 # of Positive Qtrs 5.38 6.18 POLICY 13.64 0.1364 # of Positive Qtrs 7 Yr 4.96 2.96 # of Positive Qtrs
0.78 8.7 76 Batting Average 2.04 5.48 40 Batting Average 6.52 4.43 2.27 Batting Average
7 Yr 5 Yr   10.88 Worst Qtr 7 Yr 3.61 18.31 Worst Qtr 6.17 3.73 1.54 Worst Qtr
3.58 6.47 0.0647 9.4 Best Qtr 1/1/1900 6 Yr 14.62 Best Qtr 1/0/1900 6 Yr 2003 Best Qtr
3.24 43 0.43 8.65 Range 0.21 7.42 13.05 Range 8 Yr 5.56 2002 7.39 0.0739 Range
1/0/1900 5 YR FUND 6.19 0.0619 8.06 Worst 4 Qtrs 1/1/1900 10 11.06 Worst 4 Qtrs 5.86 19 UNIVERSE 21 Worst 4 Qtrs
8 Yr UNIVERSE 55 0.55 6.86 Standard Deviation 8 Yr 5.38 0.0538 8.09   Standard Deviation 5.62 5.18 POLICY 6.26 0.0626 Standard Deviation
1/4/1900 POLICY 7.9 2004   Beta 4.48 40 2003 Beta 0.24 30 27   Beta
4.07 6.92 2002 8.1 0.081 Annualized Alpha 2.26 5 YR FUND 7.83 0.0783 2002 20.44 0.2044 Annualized Alpha 9 Yr 6.66 15.41 Annualized Alpha
0.91 6.28 UNIVERSE 77   R-Squared 2.22 UNIVERSE 6.04 UNIVERSE 88 R-Squared 5.96 5.32 0.0532 6.36   R-Squared
9 Yr 5.66 POLICY 8.75 0.0875 Sharpe Ratio 9 Yr POLICY 4.99 POLICY 25.89 0.2589 Sharpe Ratio 5.73 5 YR FUND 4.81 4.78 Sharpe Ratio
5.51 4.68 60 Treynor Ratio 5.49 4.27 18 Treynor Ratio 0.23 UNIVERSE 4.34 0.0434 3.82 Treynor Ratio
5.02 6 Yr   11.7 Tracking Error 1/3/1900 1.92 28.13 Tracking Error 10 Yr POLICY 3.8 2.69 Tracking Error
0.49 6.37 10.22 Information Ratio 1/1/1900 7 Yr 25.31   Information Ratio 6.5 7 Yr 2002 Information Ratio
10 Yr 19   9.06 Fund Fund 10 Yr 1.72 23.7 Fund Fund 6.24 6.52 2001 8.77 0.0877 Fund Fund
7.43 5.59 8.19 5 8.87 30 21.94   6 0.26 11 UNIVERSE 6 4
1/6/1900 38 6.4 15 1/7/1900 0.21 18.64   14 9/30/1992 6.17 POLICY 8.65 0.0865 16
0.64 6.96 2003   Batting Average 60 1.18 60 2002 Batting Average 45 Incept 18 8   Batting Average 65
9/30/1992 6.09 2001 12.74 0.1274 -5.68 9/30/1992 6.79 2001 -9.95 -0.0995 -14.86 6.26 6.72 8.8 -2.18
Incept 5.32 UNIVERSE 94   7.3 Incept 2.68 UNIVERSE 5 12.58 1/6/1900 6 7.65   4.93
8.55 4.69 POLICY 16.91 0.1691 12.98 11.42 0.51 POLICY -20.84 -0.2084 27.44 0.15 5.58 6.86 7.11
7.85 3.52 20 -6.57 10.63 -0.45 71 -20.21   Fiscal Year Returns Ending September 5.13 5.67 -0.51
0.7 7 Yr 20.25 Standard Deviation 5.58 0.79 -4.54 -10.38 Standard Deviation 11.09 Fund 4.54 1.79 Standard Deviation 3.5
Fiscal Year Returns Ending September 3.58 16.46 Beta 0.83 Fiscal Year Returns Ending September 8 Yr -17.34 Beta 0.87 Index 8 Yr 2001 Beta 0.89
Fund 44 15.09 Annualized Alpha 1.26 0.0126 Fund 4.48 -19.53 Annualized Alpha 1.67 0.0167 Diff 5.86 2000 13.27 0.1327 Annualized Alpha 0.85 0.0085
Index 3.24 14.09 R-Squared 0.92 Index 24 -21.08 R-Squared 0.96 3/31/2007 10 UNIVERSE 4 R-Squared 0.99
Diff 58 12.47 0.71 Diff 2.26 -23.77   0.45 Qtr 5.62 POLICY 13.04 0.1304 0.87
3/31/2007 6.5 2002   4.77 3/31/2007 61 2001 5.74 1.77 15 7   3.42
Qtr 4.58 2000 -2.02 -0.0202 1.91 Qtr 5.92 2000 -31.03 -0.3103 2.73 1.53 6.09 13.13 0.6
2.37 3.43 UNIVERSE 1   0.15 3.05 4.33 UNIVERSE 76 0.36 0.24 5.34 12.35   0.52
1.22 2.75 POLICY -7.82 -0.0782 Policy Index 0.92 2.71 POLICY -30.46 -0.3046 Policy Index 2007 4.95 11.69 Policy Index
1.15 0.55 56 6 2.13 1.7 73 6 YTD 4.58 10.55 5
2007 8 Yr -4.77 14 2007 -0.51 -5.3 14 1/2/1900 4.07 0.57 15
YTD 4.98 -6.56 40 YTD 9 Yr -17.68 55 2.58 9 Yr 2000 35
6 52 -7.65 -7.1 8.47 5.49 -27.57 -16.86 0.29 5.96 6.22 -2.84
5.44 4.07 -8.69 9.86 7.87 10 -30.96 15.78 2006 3 33 5.11
0.56 78 -10.42 16.96 0.6 3.97 -39.84 32.64 3.52 5.73 6.47 7.95
2006 6.86 2001 -8.99 2006 50 2000 -25.12 3.43 6 17 -0.86
7.57 5.75 -13.38 Standard Deviation 6.42 11.04 5.99 17.11 Standard Deviation 12.43 0.09 5.82 6.94 Standard Deviation 3.9
7.18 5.01 77 1 10.36 4.68 36 1 2005 5.26 6.33 1
0.39 4.13 -12.38 0 0.68 3.96 12.38 0 2.02 4.93 5.96 0
2005 3.03 71 1 2005 3.3 67 1 2.02 4.61 5.47 1
8.74 9 Yr 1.52 0.57 14.34 1.42 37.21 0.32 0 4.16 2.92 0.7
8.03 5.51 -6.13 3.68 13.15 10 Yr 20.71 4.01 2004 10 Yr 1999 2.73
0.71 12 -10.2 0 1.19 8.87 14.58 0 3.49 6.5 -0.41 0
2004 5.02 -13.11 Diff 2004 9 10.6 Diff 3 5 72 Diff
8.1 32 -18.96 -1 12.54 7.69 2.15 0 0.49 6.24 -0.5 -1
8.75 5.93 2000 1 13.64 44 1999 0 2003 11 75 1
-0.65 5.16 12.39 20 -1.1 9.24 30.59 -10 7.39 6.44 3.72 30
2003 4.75 66 1.42 2003 8.17 23 2 6.26 5.85 1.67 0.66
12.74 4.34 9.42 -2.56 20.44 7.56 26.68 -3.2 1.13 5.5 0.54 -0.18
16.91 3.5 84 -3.98 25.89 6.65 51 -5.2 2002 5.16 -0.58 -0.84
-4.17 10 Yr 24.59 2.42 -5.45 5.15 42.92 4.91 8.77 4.67 -2.06 0.35
2002 7.43 17.13 -0.84 2002 Fiscal Year Returns Ending September 29.79 -1.34 8.65 Fiscal Year Returns Ending September 1998 -0.4
-2.02 7 14.19 -0.17 -9.95 Fund 26.74 -0.13 0.12 Fund 11.65 -0.11
-7.82 6.79 10.41 1.26 -20.84 Return 17.54 1.67 2001 Return 7 0.85
5.8 30 6.43 -0.08 10.89 %-tile 2.98 -0.04 13.27 %-tile 11.62 -0.01
2001 7.54 1999 0.14 2001 Index 1998 0.13 13.04 Index 8 0.17
-13.38 6.88 14.22 1.09 -31.03 Return 6.61 1.73 0.23 Return 12.17 0.69
-12.38 6.52 67 1.91 -30.46 %-tile 37 2.73 2000 %-tile 9.97 0.6
-1 6.03 12.79 10 Yr -0.57 Universe 10.1 10 Yr 6.22 Universe 8.86 10 Yr
2000 5.16 77 # of Negative Qtrs 2000 5th %-tile 11 # of Negative Qtrs 6.47 5th %-tile 7.67 # of Negative Qtrs
12.39 5.04 24.47 # of Positive Qtrs 17.11 25th %-tile 12.45 # of Positive Qtrs -0.25 25th %-tile 2.96 # of Positive Qtrs
9.42 5.89 20.17 Batting Average 1/12/1900 50th %-tile 8.45   Batting Average 6/21/1905 50th %-tile 16.26   Batting Average
2.97 7.17 17.8 Worst Qtr 4.73 75th %-tile 4.58 Worst Qtr -0.41 75th %-tile 12.82 Worst Qtr
6/21/1905 5.92 13 Best Qtr 1999 95th %-tile -2.5   Best Qtr -0.5 95th %-tile 8.28   Best Qtr
14.22 4.24 7.72 Range 30.59 Qtr -15.76 Range 0.09 Qtr 27 Range
12.79 Worst 4 Qtrs 1/26/1900 3.05 0.0305 -17.25   Worst 4 Qtrs 6/20/1905 1.77 0.0177 9.46   Worst 4 Qtrs
1.43 Standard Deviation 3.91 1 19 Standard Deviation 11.65 13 3.7 Standard Deviation
6/20/1905 Beta 1998 0.92 0.0092 17.44   Beta 11.62 1.53 0.0153 2.37   Beta
8.8 Annualized Alpha 6.61 59 15.88 Annualized Alpha 0.03 25 1.11 Annualized Alpha
1/9/1900 R-Squared 10.1 2.24 14.26 R-Squared Returns in Up Markets 2.06 0.39 R-Squared
-0.85 Sharpe Ratio -3.49 1.42 YTD Sharpe Ratio Fund 1.53 YTD Sharpe Ratio
Returns in Up Markets Treynor Ratio Returns in Up Markets 1.02 12.31 Treynor Ratio Index 1.32 4.44 Treynor Ratio
Fund Tracking Error Fund 0.72 65 Tracking Error Ratio 1.07 37 Tracking Error
Index Information Ratio Index 0.15 13.02 Information Ratio 3 Yr 0.88 5.23 Information Ratio
Ratio Fund Ratio YTD 50 Fund 6.7 YTD 29 Fund
3 Yr 11 3 Yr 8.47 17.59 13 6.8 2.87 16.11 6
10.8 29 17.8 19 14.43 27 98.2 29 5.92 34
10.7 57.5 17.2 7.87 13.01 55 5 Yr 2.58 3.67 62.5
101 -5.94 103.6 39 11.77 -15 8.5 48 1.98 -2.18
5 Yr 11.33 5 Yr 9.41 9.97 22.14 8.6 4.81 0.87 4.93
13.1 17.27 21.8 8.24 2002 37.14 98.6 2.97 2002 7.11
14.7 -13.38 23.9 2002 FUND 7.62 -21.65   -31.03 10 Yr 2002 FUND 2.54 10.49   -0.66
89 7.82 3/31/1900 UNIVERSE 7.07 88 14.89 1/9/1900 UNIVERSE 2.17 11 3.44
10 Yr 0.95 10 Yr POLICY 6.05 -20.67   0.93 9.2 POLICY 1.83 11.02   0.93
1/17/1900 0.93 31.2 2006 84   1.61 99.7 2006 8 0.63
1/17/1900 0.93 2/1/1900 11.04 -9.82 0.94 9/30/1992 3.52 11.72   0.97
99.4 0.48 4/6/1900 14 -13.94 0.35 Incept 51 9.31 0.82
9/30/1992 3.96 9/30/1992 10.36 -16.68 5.59 9.6 3.43 7.69   3.04
Incept 2.16 Incept 26 -19.33 3.67 9.7 56 4.45 0.62
15.6 0.3 26.5 12.17 -23.14 0.32 99.3 5.33 -2.07 0.42
1/15/1900 Index 27 10.37 2001 Index Returns in Down Markets 4 2001 Index
101.9 13 98.2 2001 FUND 9.39 -5.89   14 Fund 2001 FUND 3.53 8.73   9
Returns in Down Markets 27 Returns in Down Markets UNIVERSE 8.21 74 26 Index UNIVERSE 3.11 14 31
Fund 42.5 Fund POLICY 5.54 -11.08   45 Ratio POLICY 2.62 8.51   37.5
Index -7.1 Index 2005 96 -16.86 3 Yr 2005 18 -2.84
Ratio 10.38 Ratio 14.34 5.46 21.13 -3.9 2.02 9.68   5.11
3 Yr 17.48 3 Yr 32 -0.02 37.99 -5 68 8.13 7.95
-1.8 -12.38 -5.2 13.15 -3.26 -30.46 78.6 2.02 7.33   -0.89
-3.1 7.91 -6.3 59 -6.04 15.57 5 Yr 68 6.21 3.63
57.1 1 81.5 16.92 -10.93 1 -2.8 4.66 0.36 1
5 Yr 0 5 Yr 14.74 2000 0 -4.2 2.94 2000 0
-7.5 1 -19.6 2000 FUND 13.48 -5.56   1 65.3 2000 FUND 2.38 12.61   1
-11.2 0.39 -25.1 UNIVERSE 12.44 98 0.26 10 Yr UNIVERSE 1.89 8 0.71
66.5 3.12 78.1 POLICY 10.77 -6.49   4.02 -2.1 POLICY 1.28 11.84   2.57
10 Yr 0 10 Yr 2004 99 0 -3.2 2004 15 0
-10 Diff -23 12.54 16.45 Diff 65.1 3.49 13.05   Diff
-11.8 -2 ################################ 69 9.38 -1 9/30/1992 33 11.01 -3
84.8 2 87.5 13.64 5.82 1 Incept 3 9.44   3
9/30/1992 15 9/30/1992 47 1.47 10 -2.7 49 7.02 25
Incept 1.16 Incept 17.73 -4.06 1.86 -3.5 7.43 -8.83 0.66
-9.4 0.95 -22.5 15.34 1999 1.01 79.4 3.83 1999 -0.18
-11 -0.21 -25.4 1999 FUND 13.43 19.52   -0.85 1999 FUND 2.96 -2.72   -0.84
85.4 -1 88.6 UNIVERSE 12.14 46 -0.57 UNIVERSE 2.27 88 0.23
-0.09 POLICY 8.65 20.41   -0.68 POLICY 1.54 -2.15   -0.19
-0.05 2003 41 -0.07 2003 83 -0.07
0.93 20.44 35.59 1.61 7.39 7   0.63
-0.07 89 24.4 -0.06 21 2.72 -0.03
0.09 25.89 18.88 0.09 6.26 0.33   0.11
0.84 8 13.96 1.57 27 -1.4 0.47
2.16 26.11 8.02 3.67 15.41 -3.93 0.62
Incept 24.47 1998 Incept 6.36 1998 Incept
# of Negative Qtrs 1998 FUND 23.46 16.91   # of Negative Qtrs 1998 FUND 4.78 9.74   # of Negative Qtrs
# of Positive Qtrs UNIVERSE 21.67 13 # of Positive Qtrs UNIVERSE 3.82 7 # of Positive Qtrs
Batting Average POLICY 19.03 20.4   Batting Average POLICY 2.69 9.47   Batting Average
Worst Qtr 2002 6 Worst Qtr 2002 8 Worst Qtr
Best Qtr -9.95 21.24 Best Qtr 8.77 9.93   Best Qtr
Range 1 14.25 Range 6 8.09 Range
Worst 4 Qtrs -20.84 9.97 Worst 4 Qtrs 8.65 6.94 Worst 4 Qtrs
Standard Deviation 77 6.68 Standard Deviation 8 5.76 Standard Deviation
Beta -14.32 1.46 Beta 8.8 -0.13 Beta
Annualized Alpha -17.77 1997 Annualized Alpha 7.65 1997 Annualized Alpha
R-Squared -19.74 38.59 R-Squared 6.86 8.55 R-Squared
Sharpe Ratio -20.8 1 Sharpe Ratio 5.67 54 Sharpe Ratio
Treynor Ratio -22.6 30.86 Treynor Ratio 1.79 9.75 Treynor Ratio
Tracking Error 2001 16 Tracking Error 2001 26 Tracking Error
Information Ratio -31.03 33.38 Information Ratio 13.27 14.34 Information Ratio
Fund 77 29.54 Fund 4 9.77 Fund
12 -30.46 26.7 14 13.04 8.72 12
46 75 23.64 44 7 7.12 46
58.62 -7.25 16.88 51.72 13.13 5.89 63.79
-5.94 -21.85 1996 -15 12.35 1996 -2.78
11.33 -27.81 19.67 22.14 11.69 5.98 5.99
17.27 -30.53 69 37.14 10.55 20 8.77
-13.38 -41.98 21.34 -31.03 0.57 2.91 -3.65
7.2 2000 52 13.49 2000 74 3.65
0.96 17.11 28.78 0.93 6.22 13.49 0.96
0.94 32 24.05 1.4 33 5.37 0.37
0.91 12.38 21.49 0.93 6.47 3.97 0.97
0.64 64 18.8 0.56 17 2.83 0.64
4.81 33.18 14.89 8.05 6.94 1.19 2.43
2.17 19.34 1995 3.74 6.33 1995 0.63
0.32 13.52 37.47 0.21 5.96 23.05 0.24
Index 10.99 31.79 Index 5.47 18.43 Index
15 -1.18 28.75 15 2.92 16.26 15
43 1999 25.73 43 1999 12.82 43
41.38 30.59 21.74 48.28 -0.41 8.28 36.21
-7.1 20 -16.86 72 -2.84
10.38 26.68 21.13 -0.5 5.74
17.48 59 37.99 75 8.58
-12.38 38.05 -30.46 3.72 -2.9
7.12 29.22 13.9 1.67 3.74
1 27.21 1 0.54 1
0 21.35 0 -0.58 0
1 10.33 1 -2.06 1
0.55 0.48 0.58
3.92 6.7 2.18
0 0 0
Diff Diff Diff
-3 -1 -3
3 1 3
17.24 3.44 27.58
1.16 1.86 0.06
0.95 1.01 0.25
-0.21 -0.85 0.19
-1 -0.57 -0.75
0.08 -0.41 -0.09
-0.04 -0.07 -0.04
0.94 1.4 0.37
-0.09 -0.07 -0.03
0.09 0.08 0.06
0.89 1.35 0.25
2.17 3.74 0.63