Hollywood Police Officers' Pension Fund
Compliance Report
June 30, 2005
YES NO
TOTAL FUND RETURNS
           
1. Did the total 3-year return exceed the policy, which is comprised of 43% S&P500, 7% R1000V,   4% R2000, 23% LBIGC and 23% LBGC? [7.21 vs. 7.95]
2. Did the total 5-year return exceed the policy, which is comprised of 43% S&P500, 7% R1000V,   4% R2000, 23% LBIGC and 23% LBGC? [2.37 vs. 2.64]
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? [7.80 vs. 8.28]
2. Did the equity return equal or exceed the S&P500 over the trailing 5-year period? [-1.55 vs. -2.37]
3. Is Inverness' trailing 5-year standard deviation below the standard deviation of the S&P500?                                      [15.72 vs. 15.47]
4. Did the 3-year equity return rank in the top 50% of the Mobius Broad Large Cap Core Universe? [52nd.]
ASSET CONSULTING GROUP
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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? [38th.]
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?
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? [7.80 vs. 8.28, 4.55 vs. 2.75, 5.77 vs. 3.59, 8.06 vs. 4.05]
10. Has Inverness' trailing 5-year equity return outperformed its index for at least 1 of the last 4 quarters?
11. Has Inverness' equity annualized alpha been positive for the last 3 years? [0.30]
Davis Hamilton Jackson
1. Did the equity return equal or exceed its S&P500 index during the trailing  3-year period?                           [5.21 vs. 7.25]
2. Did the equity return equal or exceed its S&P500 index during the trailing  5-year period?                           [-4.23 vs. -10.36]
3. Is DHJ trailing 5-year standard deviation below the standard deviation of its  S&P500 index?                                                                                               [14.63 vs. 20.40]
4. Does the 3-year equity return rank in the top 50% of the Mobius Broad Large Cap Growth Core Universe? [71st.]
ASSET CONSULTING GROUP
a division of Gabriel, Roeder, Smith, & Co. Page 4
INDIVIDUAL EQUITY (continued)
5. Did the equity return rank in the top 75% of the Mobius Broad Large Cap Growth Core Universe for one of the last 2 quarters or for the last year?
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?                  [1.44 vs. 2.46, -2.93 vs. -2.15, 11.01 vs. 9.23, -4.92 vs. -1.87]
8. Has DHJ equity annualized alpha been positive for the last 3 years? [-1.31]
Eagle Asset Management
1. Did the equity return equal or exceed its R2000 index during the trailing  1-year period?                           [13.28 vs. 9.45]
 
2. Did the equity return equal or exceed its R2000 index during the trailing  3-year period?                           [Inception: 25.62 vs. 29.90]
3. Is Eagle's trailing 3-year standard deviation below the standard deviation of its R2000 index?                                                                                               [Inception: 10.71 vs. 15.73]
4. Does the 3-year equity return rank in the top 50% of the Mobius Broad Small Cap Universe?                       [2yr: 39th.]
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? 
 
6. Has Eagle's equity performance fallen outside the southeast quadrant of the risk/return scattergram over the 3-year period?  [Inception]
7. Has Eagle's quarterly equity return outperformed its index for at least 1 of the last 4 quarters?                    [3.74 vs. 4.32, -3.18 vs. -5.34, 14.37 vs. 14.09, -1.39 vs. -2.86]
8. Has Eagle's equity annualized alpha been positive for the last 3 years? [2yr: 6.45]
ASSET CONSULTING GROUP