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 EXECUTIVE 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 Conservative 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 1 Yr Inception date is December 31, 2003 56 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, 2007 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2000 to March 31, 2007 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2003 to March 31, 2007 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is December 31, 2003 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 Account Reconciliation Trailing Returns through March 31, 2007 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
3/31/2007 Return -10.00% Beta 3/31/2007 Return 0.00% Beta 3/31/2007 Return 25.00% Beta 3/31/2007 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
73,165 Universe 10.00% R-Squared 23,942 Universe 50.00% R-Squared 10,126 Universe 75.00% R-Squared 14,512 Universe 20.00% R-Squared
-6,394 5th %-tile 20.00% Sharpe Ratio -2 5th %-tile 75.00% Sharpe Ratio 5 5th %-tile 100.00% Sharpe Ratio -1 5th %-tile 30.00% Sharpe Ratio
2,130 25th %-tile 30.00% Treynor Ratio 619 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 586 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 142 25th %-tile 40.00% Treynor Ratio
68,901 50th %-tile 40.00% Tracking Error 24,560 50th %-tile Fiscal Year Returns Ending September Tracking Error 10,717 50th %-tile Fiscal Year Returns Ending September Tracking Error 14,653 50th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Tracking Error
2007 75th %-tile 50.00% Information Ratio 2007 75th %-tile Fund Information Ratio 2007 75th %-tile Fund Information Ratio 2007 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
67,953 1 Yr Fiscal Year Returns Ending September 4 23,273 2 Qtrs %-tile 3 9,215 2 Qtrs %-tile 2 13,593 2 Qtrs Return 1
-4,626 12.59 0.1259 Fund 8 -4 5.55 R1000G 9 9 16.19 FR2000 2 -2 7.82 %-tile 3
5,574 26   Return 50 1,291 92 Return 50 1,493 5 Return Batting Average 75 1,063 53 R1000V 0
68,901 11.83 0.1183 %-tile -1.92 24,560 7.19 %-tile -5.04 10,717 11.02 %-tile -2.78 14,653 9.34 Return -0.62
9/30/1992 37 S&P 500 7.64 3/31/2000 40 Universe 10.88 3/31/2003 62 Universe 9.83 12/31/2003 22 %-tile 6.77
Incept 16.57 Return 9.56 Incept 9.46 5th %-tile 15.92 Incept 16.09 5th %-tile 12.61 Incept 11.3 Universe 7.39
  18,638 12.7 %-tile 5.29 10,795 7.77 25th %-tile 3.43 4,822 12.94 25th %-tile 12.62 7,800 9.05 5th %-tile 12.43  
-31,983 11.49 Universe 7.33 14,081 6.47 50th %-tile 8.22 21 11.4 50th %-tile Standard Deviation 8.34 3,105 7.94 25th %-tile 6.1
82,246 8.97 5th %-tile 0.98 -316 5.94 75th %-tile 0.95 5,874 10.15 75th %-tile Beta 0.83 3,748 7.27 50th %-tile BETA 0.95
68,901  68,901,000                                                       3 25th %-tile 1.94 24,560  24,560,000 5.33 95th %-tile -0.61 10,717  10,717,000 7.86 95th %-tile Annualized Alpha 7.38 0.0738 14,653           14,653,000 5.72 75th %-tile ALPHA -3.04 -0.0304 #REF!
Investment Policy 2 Yr 50th %-tile 0.83 Investment Policy 3 Qtrs Qtr 0.92 Investment Policy 3 Qtrs Qtr R-Squared 0.92 Investment Policy 3 Qtrs 95th %-tile 0.79
Index 13.93 75th %-tile 1.17 Index 7.75 QU. FUND -3.66 -0.0366 0.32 Index 15.85 QU. FUND -2.59 -0.0259 0.91 Index 13.13 Qtr 1.22
S&P 500 11 95th %-tile 8.72 Russell 1000 Growth 100 UNIVERSE 39   2.76 Russell 2000 9 UNIVERSE 12   9.19 Russell 1000 Value 72 -0.49 -0.0049 7.83
Total 11.78 Qtr 2.99 Total 11.4 POLICY -3.9 -0.039 2.32 Total 11.51 POLICY -5.02 -0.0502 2.87 Total 16.14 36   2.81
Weight 46 -1.55 -0.0155 0.61 Weight 39 46 -0.45 Weight 41 54 2.34 Weight 10 0.59 0.0059 -1.57
100 1 Yr FUND 16.05 QU. FUND 41   S&P 500 100 13.48 -1.39 R1000G 100 16.35 -1.91 Policy FR2000 100 17.24 13 R1000V
100 UNIVERSE 12.85 UNIVERSE -1.44 -0.0144 3 100 12.07 -3.05 3 100 12.82 -3.39 1 100 15.14 1.73 0
Trailing Returns through March 31, 2007 POLICY 11.64 POLICY 30 9 Trailing Returns through March 31, 2007 10.14 -4.08   9 Trailing Returns through March 31, 2007 10.61 -4.84   3 Trailing Returns through March 31, 2007 14.03 -0.06 4
Fund 10.75 0.64 50 Fund 9.47 -5.16 50 Fund 8.71 -6.35 25 Fund 12.94 -1.29 100
S&P 500 7.47 -1.19 -2.15 R1000G 8.31 -6.87   -5.23 FR2000 6.07 -9.22   -5.02 R1000V 10.92 -1.6 0.59
Diff 3 Yr -1.85 9.23 Diff 1 Yr YTD 9.17 Diff 1 Yr YTD 8.9 Diff 1 Yr -3.2   8
1 Yr 11.89 0.1189 -3.28   11.38 1 Yr 3.67 0.0367 2.22 14.4 1 Yr 12.62 0.1262 10.76 13.92 1 Yr 12.43 0.1243 YTD 7.41 1 Yr FUND #REF!
12.59 21   -5.66 4.91 1/3/1900 89 64 1.16 1/12/1900 4 20 5.91 1/12/1900 57   6.81   16.83 UNIVERSE
11.83 10.06 0.1006 YTD   6.86 7.06 7.06 0.0706 2.02 8.35 5.91 5.91 0.0591 9.44 Standard Deviation 9.67 16.83 16.83 0.1683 24 5.7 POLICY #REF!
0.76 48 6.94 1 -3.39 45 67 1 6.71 47 28 1 -4.4 14 7.91 1
2 Yr 13.95 16 0 2 Yr 12.66 8.65 0 2 Yr 12.11 13.84 0 2 Yr 18.13 13 0
13.93 11.54 4.85 1 1/7/1900 9.06 5.33 1 1/18/1900 8.41 9.78 1 1/10/1900 15.47 9.32 1
11.78 9.94 42 0.98 10.06 6.21 2.98 0.44 15.45 5.51 7.83 0.1 15.05 13 6.74 2.08
2.15 8.96 8.45 6.72 -2.93 5.85 1.38 3.67 2.82 2.58 5.58 0.92 -4.62 11.71 4.82 11.84
3 Yr 5.56 5.82 0 3 Yr 2.65 -1.66 0 3 Yr -0.76 1.51 0 3 Yr 8.82   4.38 0
1/11/1900 4 Yr 4.67 Diff 5.96 2 Yr 2005   Diff 1/16/1900 INCEPTION 2 Yr 2005   Diff 1/9/1900 2 Yr 1.98 Diff
Incept ROR 10.06 16.48 3.13 1   1/7/1900 7.13 2004 FUND 13.12 0.1312 0 1/12/1900 UNIVERSE 18.27 2004 FUND 21.9 0.219 1 1/14/1900 10.43 0.1043 2005 1     
Fund 1.83 39 0.06 -1   -1.05 100 UNIVERSE 55   0 4.55 POLICY 9 UNIVERSE 23   -1 -4.9 91 11.9 0.119 -1     
Policy 4 Yr 15.85 2005 0   4 Yr 10.06 POLICY 11.6 0.116 0 4 Yr 15.45 POLICY 17.95 0.1795 50 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 15.05 0.1505 62   -100    
16.48 49 14.04   0.23 1/10/1900 43 71 0.19 1/22/1900 38 63 2.24 12/31/2003 15 16.69 0.1669 -1.21
15.85 3 Yr FUND 20.44 2004 FUND 38 -1.59 1/12/1900 1 Yr FUND 15.12 25.77 1.71 1/23/1900 19.38 26.4 0.93 Incept 17.19 23 -1.23
0.63 UNIVERSE 17.51 UNIVERSE 12.25 -1.82 -2.77 UNIVERSE 10.77 18.07 1.52 -1.13 16.22 21.72 -1.31 10.04 13.72 24.1 -0.02
5 Yr POLICY 15.74 POLICY 57 0.38 5 Yr POLICY 9.52 13.56   2.27 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr   14.33 19.25   6.71 14.29 12.5 16.12 -4.4
8.20 14.39 22.88 0.47 1/2/1900 8.96 11.02 -0.13 3/31/2003 12.63 16.53 -1.33 ################################### 11.62 12.74   0.4
6.27 10.72 15.79 -0.02 3.47 8.18 7.76   -0.05 Incept 9.73 11.14   -0.17 Fiscal Year Returns Ending September 8.63 11.06 -0.05
1.93 5 Yr   12.59 1.94 -0.84 3 Yr 2004   -0.61 22.04 3 Yr 2004   7.38 Fund 3 Yr 7.98   -3.04
6 Yr 8.2 0.082 11.47 -0.17 6 Yr 5.96 0.0596 2003 FUND 4.69 0.0469 -0.08 23.17 3 Yr FUND 16.55 0.1655 2003 FUND 22.46 0.2246 -0.08 R1000V 9.52 0.0952 2004   -0.21 3 Yr FUND #REF!
8.21 21   7.61 0.19 2.44 92 UNIVERSE 87   -0.12 ################################# UNIVERSE 6 UNIVERSE 26   0.81 Diff 85 23.92 0.2392 -0.86  N/A
5.24 6.27 0.0627 2004 2 1/2/1900 7.01 0.0701 POLICY 7.51 0.0751 -0.91 Fiscal Year Returns Ending September POLICY 12 0.12 POLICY 18.78 0.1878 8.27 3/31/2007 14.42 0.1442 18.34   -4.01   #REF!
2.97 48 13.63 2.99 -0.1 54 61 2.32 Fund 57 54 2.87 Qtr 9 14.42 0.1442 2.81
7 Yr 10.13 2003 FUND 39 5 Yr 7 Yr 11.4 15.25 5 Yr FR2000 16.72 28.92 2 Yr 0.98 15.15 13.02 2 Yr
2.3 7.81 UNIVERSE 13.87 5 Yr # of Negative Qtrs ############################## 9.44   11.67 # of Negative Qtrs Diff 14.16 22.49 # of Negative Qtrs 1.24 12.71 8.08 # of Negative Qtrs
1/0/1900 6.16 POLICY 35 # of Positive Qtrs ############################## 7.14 8.28 # of Positive Qtrs 3/31/2007 12.45 19.1 # of Positive Qtrs ################################### 11.51 2003 # of Positive Qtrs
1.41   5.14 19.71 Batting Average 1/3/1900 6.5 6.32 Batting Average Qtr 10.66 16.07 Batting Average 6/29/1905 9.97 27.67 Batting Average
8 Yr   1.59 14.67 Worst Qtr 8 Yr 9 Yr 10 Yr 5.87 2.06 Worst Qtr 5.79 8.64 8.02 Worst Qtr YTD 7.79 23.98 Worst Qtr
1/4/1900 6 Yr 13.19 Best Qtr 3/31/2000 4 Yr 2003   Best Qtr 1/1/1900 4 Yr 2003   Best Qtr 1/7/1900 4 Yr 21.95 Best Qtr
2.87 8.21 10.23 Range Incept 10.04 2002 FUND 19.31 0.1931 Range 1/3/1900 22.04 0.2204 2002 FUND 48.25 0.4825 Range 1/9/1900 21.4 19.27   Range
2.09 15 5.93 Worst 4 Qtrs -1.68 100 UNIVERSE 63   Worst 4 Qtrs 2007 62 UNIVERSE 34.58   Worst 4 Qtrs -1.52 18.6 15.84 Worst 4 Qtrs
9 Yr 5.24 2003 Standard Deviation -5.64 12.81 POLICY 25.91 0.2591 Standard Deviation YTD 23.17 0.2317 POLICY 30.01 0.3001 Standard Deviation 2006 17.56 2002   Standard Deviation 5 Yr FUND
5.92 48 20.49 Beta 1/3/1900 44 17 Beta 1/16/1900 43 25.9 Beta 1/11/1900 15.77 -6.38 Beta  N/A
4.52 5 Yr FUND 9 2002 FUND 73 Annualized Alpha Fiscal Year Returns Ending September 3 Yr FUND 17.48 30.61 Annualized Alpha 11.02 28.36 19.17 Annualized Alpha 14.62 13.76 -15.42 Annualized Alpha  
1.4 UNIVERSE 6.92 UNIVERSE 24.4 R-Squared Fund UNIVERSE 13.95 23.77 R-Squared 5.17 24.7 2002 R-Squared -2.99 5 Yr -18.95 R-Squared
10 Yr POLICY 5.09 POLICY 25 Sharpe Ratio R1000G POLICY 12.23 20.39   Sharpe Ratio 2006 22.63 6.59   Sharpe Ratio 2005 10.93 -20.72 Sharpe Ratio
9.27 4.25 29.75 Treynor Ratio Diff 11.86 18.37 Treynor Ratio 9.79 20.76 -1.82 Treynor Ratio 11.29 8.95 -24.03   Treynor Ratio
1/8/1900 1.43 24.33 Tracking Error 3/31/2007 11.12 14.19   Tracking Error 1/9/1900 18.66 -7.42   Tracking Error 1/16/1900 7.76 2001 Tracking Error
1.07 7 Yr 23.28 Information Ratio Qtr 5 Yr 2002   Information Ratio -0.13 5 Yr -12.12   Information Ratio -5.4 6.18 5.47   Information Ratio
9/30/1992 2.3 20.05 Fund Fund 2.59 2.63 0.0263 2001 FUND -17.07 -0.1707 Fund 2005 5 Yr FUND 16.19 2001 FUND -19.94 -0.1994 Fund 2004 2003 2002 2001 2000 1999 1998 4.7 -5.14   Fund #REF!
Incept 36 14.08 7 1.19 90 UNIVERSE 15   7 1/20/1900 N/A 13.46 UNIVERSE 2001   2 Returns in Up Markets 6 Yr -13.19 -0.27 1
11.71 0.89 2002 13 1.4 3.47 0.0347 POLICY -22.51 -0.2251 13 17.95   11.42 POLICY 9.26 0.0926 6 Fund 9.6 -23.01   7 #REF!
11 49 -7.86 Batting Average 50 2007 60 63 40 1/3/1900 9.62 -2.9 62.5 R1000V 8.23 -27 0.2225 12.5
0.71 8.67 2001 FUND 1 -14.76 YTD 7.14 -12.11 -14.83 2004 6.96 -15.03 -2.78 Ratio 6.86 2000 -0.62
Fiscal Year Returns Ending September 4.52 UNIVERSE -20.49 12.92 5.55 5.01 -19.07 10.88 1/21/1900 6 Yr -25.09 11.93 1 Yr 5.11 22.25 6.77
Fund 0.8 POLICY 60 27.68 1/7/1900 3.79 -21.45 25.71 1/18/1900 18.02 -41.08 14.71 1/12/1900 4.04 13.38 7.39
S&P 500 0.23 -10.38 -19.42 -1.64   3.23 -23.71 -22.33 2.72 15.22 2000 9.79 16.8 7 Yr 8.39 6.66
Diff -5.3 -17.12 Standard Deviation 11.14 2006   2.42 -29.04 11.21 2003 2002 2001 2000 1999 1998 12.65 62.14 10.58 73.9 9.26 3.08 6
3/31/2007 8 Yr -19.82 Beta 0.88 3.97 6 Yr 2001   0.84 Returns in Up Markets 10.92 39.49   Beta 0.8 2 Yr 7.59 -3.5 0.79
Qtr 4.96 -21.16 Annualized Alpha 2.55 0.0255 6.03 2.44 2000 FUND -30.23 -0.3023 -0.34 -0.0034 Fund 7.4 2000 FUND 30.15 0.3015 Alpha 5.42 0.0542   10.4 5.07 1999   -1.09 -0.0109  
3.1 29 -25.68 R-Squared 0.92   -2.06 56 UNIVERSE 7   0.93 FR2000 7 Yr UNIVERSE 19.95   0.93 1/15/1900 1.76 28.08 0.1547 0.64
0.64 2.87 2001 0.51 2005 2.54 POLICY -45.64 -0.4564 0.01 Ratio 18.08 POLICY 9.11 0.0911 1.33 69.3 0.71 20.54   1.03
2.46 53 -31.06 6.47 12.44 53 84 0.14 1 Yr 14.78 1999 17.56 3 Yr 8 Yr 15.47 0.0446 7.86
2007 8.02 2000 FUND 84 3.43 11.6 5 Yr FUND 6.03 -29.08 3.66 1/15/1900 10.53 50.94 3.77 9.5 8.92 11.7 3.82
YTD 5.69 UNIVERSE -26.62 0.56 0.84 UNIVERSE 3.85 -35.09 -0.23 11.5 6.03 31.67 0.75 1/14/1900 7.19 4.46 -1.21
8.17 2.94 POLICY 52 Policy S&P 500 2004 POLICY 2.61 -38.5 R1000G 137.7 -1.87 21.4 FR2000 66 5.91 1998 R1000V
7.38 2.2 -12.56 6 1/4/1900 1.9 -43.41 6 2 Yr 8 Yr 11.57 1 12/31/2003 3.84 9.83 0
0.79 -0.99 -20.73 14 7.51 1.53 -51.41 14 23.1 19.7 1.61 7 Incept 2.79 6.07 8
2006 9 Yr -26.57 50 -3.34 7 Yr 2000 60 21.4 16.17 1998 37.5 10 Fiscal Year Returns Ending September 1.83 87.5
13.06 5.92 -28.89 -17.28 2003 -1.68 46.3 -18.67 108.2 13.51 -1.61 -5.02 14.3 Fund -0.8 0.59
10.79 17 -35.02 15.39 18.73 40 27.14 14.31 3 Yr 10.28 -9.72 13.93 70.3 Return -5.82 8
1/2/1900 4.52 2000 32.67 25.91 -5.64 20.88 32.98 1/27/1900 4.97 -16.12 18.95 Returns in Down Markets %-tile 7.41
2005 41 16.14 -24.76 -7.18 100 14.34 -26.76 23.5 Fiscal Year Returns Ending September -20.15 5.91 Fund R1000V 12.1
14.04 7.22 30 12.19 2002   3.08 8.45 12.88 114.8 Fund -27.66 12.84 R1000V Return 6.12
1/12/1900 5.24 13.28 Standard Deviation 1 ############################## -0.5 1999 1 3/31/2003 Return   1 Ratio %-tile 1
1/1/1900 4.28 46 0 -22.51 -3.4 38.21 0 Incept %-tile 0 1 Yr 2 Yr 3 Yr Universe 0
2004 3.39 27.56 1 5.01 -4.05 31.55 1 30.9 FR2000   1 12/31/2003 5th %-tile 1
13.63 0.62 17 0.31 2001 -5.25 27.96 0.07 34.7 Return 0.87 Incept 25th %-tile 1.77
13.87 10 Yr 13.02 3.76 -30.55 8 Yr 26.33 0.96 89 %-tile 11.23 50th %-tile #VALUE! 10.83 QU. FUND #REF!
-0.24 9.27 9.15 0 -45.64 6.79 20.01 0 Returns in Down Markets Universe 0 75th %-tile 0 UNIVERSE
2003 16 1.34 Diff 15.09 1.82 1998 Diff Fund 5th %-tile Diff 95th %-tile #VALUE! Diff POLICY #REF!
20.49 8.2 1999 1 2000 1999 1998 0.69 16.52 1 FR2000 25th %-tile 1 Qtr 1
24.4 38 30.59 -1 Returns in Up Markets -0.28 9.1 -1 Ratio 50th %-tile #VALUE! -1 0.98 0.0098 -1
-3.91 10.41 19 0 Fund -0.87 7.45 -20 1 Yr 75th %-tile 25 40 -75
2002 8.65 26.68 2.52 R1000G Fiscal Year Returns Ending September 2.95 3.84 -2.8 95th %-tile #VALUE! 2.24 1.24 0.0124 -1.21
-7.86 7.93 41 -2.47 Ratio Fund -4.96 -3.43 -5 Qtr -2 32 -1.23
-20.49 7.02 36.18   -4.99 3 Yr Return -7.27 55.4 QU. FUND 5.79 0.0579   -4.24 2.92 -0.02
12.63 4.88 28.77 5.34 1/14/1900 %-tile 4.43 2 Yr UNIVERSE 1 3.88 1.42 -5.44
2001 Fiscal Year Returns Ending September 24.51   -1.05 16.2 R1000G -1.67 -2.8 POLICY 1.95 0.0195   -2.26 0.69 -0.12
-31.06 Fund 16.71 -0.12 86.3 Return -0.16 -5 82 -0.2 0.41 -0.21
-26.62 Return 9.03 2.55 5 Yr %-tile -0.34 55.4 5.34 5.42 -0.42 -1.09
-4.44 %-tile 1998 -0.08 1/17/1900 Universe -0.07 3 Yr 4.1 -0.07 YTD -0.36
2000 S&P 500 6.61 0.2 21.7 5th %-tile -0.06 -7.6 3.3 0.46 7.82 -0.74
16.14 Return 31 2.71 80.3 25th %-tile -0.82 -12.7 2.34 6.33 53 -2.97
13.28 %-tile 10.1 3.43 6 Yr 50th %-tile #VALUE! 3.66 59.8 0.76 3.77 9.34 3.82
1/2/1900 Universe 13 10 Yr 1/19/1900 75th %-tile 6 Yr 3/31/2003 YTD 3 Yr 22 3 Yr Incept
1999 5th %-tile 15.53 # of Negative Qtrs 25.5 95th %-tile #VALUE! # of Negative Qtrs Incept 16.19 # of Negative Qtrs 11.3 # of Negative Qtrs
30.59 25th %-tile 7.46 # of Positive Qtrs 74.7 Qtr # of Positive Qtrs -7.6 5 # of Positive Qtrs 9.05 # of Positive Qtrs
26.68 50th %-tile 3.17   Batting Average 3/31/2000 2.59 0.0259 Batting Average -12.7 11.02 Batting Average 7.94 Batting Average 2002 FUND #REF!
3.91 75th %-tile -0.89 Worst Qtr Incept 6 Worst Qtr 59.8 62 Worst Qtr 7.27 Worst Qtr UNIVERSE
1998 95th %-tile -8.95   Best Qtr 19 1.19 0.0119 Best Qtr 16.09 Best Qtr 5.72 Best Qtr POLICY #REF!
6.61 Qtr 27.93 Range 25.5 45 Range 12.94 Range 2006 Range
10.1 3.1 0.031 Worst 4 Qtrs 3/14/1900 2.62 Worst 4 Qtrs 11.4 Worst 4 Qtrs 11.63 Worst 4 Qtrs
-3.49 3 Standard Deviation Returns in Down Markets 1.62 Standard Deviation 10.15 Standard Deviation 46 Standard Deviation
Returns in Up Markets 0.64 0.0064 Beta Fund 0.98 Beta 7.86 Beta 14.62 Beta
Fund 56 Annualized Alpha R1000G 0.63 Annualized Alpha 2006 Annualized Alpha 9 Annualized Alpha
S&P 500 2.85   R-Squared Ratio 0.35 R-Squared 2002 FUND 9.79   R-Squared 15.53 R-Squared
Ratio 1.37 Sharpe Ratio 3 Yr YTD Sharpe Ratio UNIVERSE 30 Sharpe Ratio 13.04 Sharpe Ratio
3 Yr 0.69   Treynor Ratio -11.4 5.55 Treynor Ratio POLICY 9.92   Treynor Ratio 11.24 Treynor Ratio 2001 FUND #REF!
18.1 0.4 Tracking Error -12.6 92 Tracking Error 29 Tracking Error 10.32 Tracking Error UNIVERSE
16.4 -1.21   Information Ratio 90.3 7.19 Information Ratio 14.58 Information Ratio 7.31 Information Ratio POLICY #REF!
109.9 YTD Fund 5 Yr 40 Fund 10.38 Fund 2005 Fund
5 Yr 8.17 14 -25 9.46 8 7.72 4 11.29 3
21.8 32 26 -29.1 7.77 16 4.83 8 73 9  
23 7.38 52.5 86 6.47 41.67 2.19 75 16.69 16.67 Batting Average
94.9 47 -15.47 6 Yr 5.94 -14.83 2005 -3.38 23 -1.13
10 Yr 10.3   22.14 -24.1 5.33 10.88 2001 FUND 20.95   14.17 24.1 9.38
30.8 8.5 37.61 -31.5 2006 25.71 UNIVERSE 35 17.55 16.12 10.51
30.1 7.32   -31.06 76.5 3.97 -22.33 POLICY 17.95   7.22 12.74 4.62 2000 FUND #REF!
102.4 6.94 15.04 3/31/2000 78 11.84 63 10.84 11.06 6.45  N/A Standard Deviation
9/30/1992 4.8   0.96 Incept 6.03 0.76 26.4 0.75 7.98 0.8   #REF! Beta
Incept 2006 1.36   -23.8 59 0.38 0.0038 21.72 6.93 0.0693 2004 -1.65 -0.0165 Annualized Alpha #REF!
26.4 13.06 0.92 -35.5 12.28 0.9 19.25 0.9 23.92 0.69 R-Squared
25.9 9 0.37 3/7/1900 10.11 -0.01 16.53 1.22 18.34 0.96
101.8 10.79 5.83 6.63 -0.22 11.14 17.61 14.42 7.72
Returns in Down Markets 29 4.29 4.5 5.24 2004 4.8 13.02 3.82
Fund 13.68   0.25 0.01 -0.02 2000 FUND 21.5   0.95 8.08 -1.28
S&P 500 10.94 S&P 500 2005 R1000G UNIVERSE 31 FR2000 2003 R1000V Policy
Ratio 10.25   13 12.44 8 POLICY 18.78   3 27.67 0 1999 FUND #REF!
3 Yr 7.48 27 65 16 54 9 23.98 12  N/A
-3.6 2.85   47.5 11.6 58.33 28.92 25 21.95 83.33   #REF!
-5.4 2005 -17.28 71 -19.41 22.49 -5.34 19.27 0.09
67.2 14.04 21.13 25.06 15.14 19.1 14.09 15.84 10.38
5 Yr 38 38.41 17.68 34.55 16.07 19.43 2002 10.29
-18 12.25 -26.62 13.67 -27.89 8.02 4.55 -6.38 7.05
-24.5 57 15.03 10.23 14.85 2003 13.67 -15.42 6.73 Standard Deviation
73.5 22.88   1 6.73 1 1999 FUND 48.25   1 -18.95 1
10 Yr 15.79 0 2004 0 N/A 34.58 0 -20.72 0
-24.8 12.59   1 4.17 1   30.01   1 -24.03 1 1998 FUND #REF!
-26.2 11.47 0.3 94 0 25.9 0.63 2001 1.65  N/A
94.7 7.61   4.53 7.51 -0.07 19.17 8.66 5.47 11.08   #REF!
9/30/1992 2004 0 73 0 2002 0 -5.14 0
Incept 13.63 Diff 18.36 Diff 6.59 Diff -13.19 Diff
-24.2 39 1 12.29 0 -1.82 1 -23.01 3
-25.3 13.87 -1 10.02 0 -7.42 -1 -27 -3
95.6 35 5 7.03 -16.66 -12.12 50 2000 -66.66
19.71 1.81 3.61 4.58 1998 FUND -19.94 1.96 22.25 -1.22
14.67 1.01 2003 -4.26 N/A 2001 0.08 13.38 -1
13.19   -0.8 18.73 -8.84   9.26   -1.88 8.39 0.22 #REF!
10.23 -4.44 70 5.56   -2.9 2.67 3.08 -2.43
5.93   0.01 25.91 -3.01 -15.03   -2.83 -3.5 -0.28 #REF!
2003 -0.04 8 -0.24 -25.09 -0.25 1999 -0.2
20.49 1.36 26.39 0.38 -41.08 6.93 28.08 -1.65
73 -0.08 23.7 -0.1 2000 -0.1 20.54 -0.31
24.4 0.07 21.45 -0.01 62.14 0.59 15.47 -0.69
25 1.3 17.27 -0.15 39.49 8.95 11.7 -3.35
29.75 4.29 11.31 5.24 30.15 4.8 4.46 3.82
24.33 Incept Incept 2002 Incept Incept 19.95 Incept Incept
23.28   # of Negative Qtrs -17.5 # of Negative Qtrs 9.11   # of Negative Qtrs # of Negative Qtrs  
20.05 # of Positive Qtrs 31 # of Positive Qtrs 1999 # of Positive Qtrs # of Positive Qtrs
14.08   Batting Average -22.51 Batting Average 50.94   Batting Average Batting Average  
2002 Worst Qtr 76 Worst Qtr 31.67 Worst Qtr Worst Qtr
-7.86 Best Qtr -9.79 Best Qtr 21.4 Best Qtr Best Qtr
1 Range -16.66 Range 11.57 Range Range
-20.49 Worst 4 Qtrs -19.49 Worst 4 Qtrs 1.61 Worst 4 Qtrs Worst 4 Qtrs
60 Standard Deviation -22.37 Standard Deviation Standard Deviation Standard Deviation
-10.38 Beta -28.93 Beta Beta Beta
-17.12 Annualized Alpha 2001 Annualized Alpha Annualized Alpha Annualized Alpha
-19.82 R-Squared -30.55 R-Squared R-Squared R-Squared
-21.16 Sharpe Ratio 45 Sharpe Ratio Sharpe Ratio Sharpe Ratio
-25.68 Treynor Ratio -45.64 Treynor Ratio Treynor Ratio Treynor Ratio
2001 Tracking Error 100 Tracking Error Tracking Error Tracking Error
-31.06 Information Ratio -25.35 Information Ratio Information Ratio Information Ratio
84 Fund Fund -28.09 Fund Fund Fund Fund
-26.62 15 -31.08 11 4 3
52   43 -33.4 17 12 10
-12.56 Batting Average 50 -36.39 Batting Average 50 56.25 23.08
-20.73 -15.47 2000 -14.83 -3.38 -1.13
-26.57 22.14 33.35 10.88 14.26 9.38
-28.89 37.61 16.1 25.71 17.64 10.51
-35.02 -31.06 12.97 -30.55 7.22 4.62
2000 Standard Deviation 13.6 12.4 Standard Deviation 13.07 10.51 6.39
16.14 Beta 0.96 6.57 Beta 0.67 0.68 0.81
30 Annualized Alpha 1.11 0.0111 1999 Annualized Alpha 1.93 0.0193 5.84 0.0584 0.000584 -1.21 -0.0121
13.28 R-Squared 0.91 38.73 R-Squared 0.86 0.85 0.7
46 0.57 29.66 -0.36 1.84 1.08
27.56 8.1 25.66 -7.12 28.37 8.51
17 4.17 20.21 7.73 6.14 3.74
13.02 0.17 17.15 0.51 -0.18 -1.14
9.15 Policy S&P 500 Policy R1000G FR2000 R1000V
1.34 14 12 3 0
1999 44 16 13 13
30.59 50 50 43.75 76.92
19 -17.28 -21.35 -5.34 0.09
26.68 21.13 15.14 23.42 10.38
41 38.41 36.49 28.76 10.29
36.18 -26.62 -45.64 4.55 7.05
28.77 Standard Deviation 13.48 Standard Deviation 18.2 14.29 6.6
24.51 1 1 1 1
16.71 0 0 0 0
9.03 1 1 1 1
0.52 -0.48 1.43 1.69
7.07 -8.73 20.42 11.14
0 0 0 0
Diff Diff Diff Diff
1 -1 1 3
-1 1 -1 -3
0 0 12.5 -53.84
1.81 6.52 1.96 -1.22
1.01 -4.26 -9.16 -1
-0.8 -10.78 -11.12 0.22
-4.44 15.09 2.67 -2.43
0.12 -5.13 -3.78 -0.21
-0.04 -0.33 -0.32 -0.19
1.11 1.93 5.84 -1.21
-0.09 -0.14 -0.15 -0.3
0.05 0.12 0.41 -0.61
1.03 1.61 7.95 -2.63
4.17 7.73 6.14 3.74
-0.09
0.02
0.64
4.32