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) TOTAL EQUITY UNIVERSE HERE(p2) LOCK LOCK TOTAL EQUITY RISK HERE LOCK LOCK TOTAL FIXED EXECUTIVE HERE LOCK TOTAL FIXED UNIVERSE HERE(p1) TOTAL FIXED UNIVERSE HERE(p2) 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 Gross Returns (Inverness + DHJ + Eagle + Israeli Bonds) Total Fund Total Gross Returns (Inverness + DHJ + Eagle + Israeli Bonds) Total Gross Returns (Inverness + DHJ + Eagle + Israeli Bonds) Total Fund Total Gross Returns (Inverness + DHJ + Eagle + Israeli Bonds) 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
1 33%BLCC,10%BLCGC,7%BLCVC,4%BSC,23%BFI,23%IFI 33%BLCC,10%BLCGC,7%BLCVC,4%BSC,23%BFI,23%IFI 20 33 61.1%BLCC, 18.5%BLCGC, 13%BLCVC, 7.4%BSC 61.1%BLCC, 18.5%BLCGC, 13%BLCVC, 7.4%BSC 41 23 50% Broad FI, 50% Intermediate FI 50% Broad FI, 50% Intermediate FI 31
Inception date is September 30, 1992 3 4 3 Yr Inception date is September 30, 1992 35 36 3 Yr Inception date is September 30, 1992 25 26 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 gross of fees. Incept is September 30, 1992 to June 30, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is September 30, 1992 to June 30, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is September 30, 1992 to June 30, 2005 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through June 30, 2005 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through June 30, 2005 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through June 30, 2005 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 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund Index Best Qtr Beginning Value 5-25th %tile 25-50th %tile 50-75th %tile 75-95th %tile Fund Index Best Qtr
Net Flows 75-95th %tile Fund Index -20.00% Range Net Flows 75-95th %tile Fund Index -40.00% Range Net Flows 75-95th %tile Fund Index -5.00% Range
Investment G/L 0.00% -15.00% Worst 4 Qtrs Investment G/L -10.00% -30.00% Worst 4 Qtrs Investment G/L 1.00% 0.00% Worst 4 Qtrs
Ending Value 5.00% -10.00% Standard Deviation Ending Value -5.00% -20.00% Standard Deviation Ending Value 2.00% 5.00% Standard Deviation
6/30/2005 10.00% -5.00% Beta 6/30/2005 0.00% -10.00% Beta 6/30/2005 3.00% 10.00% Beta
Qtr 15.00% 0.00% Annualized Alpha Qtr 5.00% 0.00% Annualized Alpha Qtr 4.00% 15.00% Annualized Alpha
166,033 20.00% 5.00% R-Squared 99,674 10.00% 10.00% R-Squared 57,944 5.00% 20.00% R-Squared
-745 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 10.00% Sharpe Ratio -3,051 15.00% 20.00% Sharpe Ratio 435 6.00% 25.00% Sharpe Ratio
2,217 Trailing Returns through June 30, 2005 15.00% Treynor Ratio 606 20.00% 30.00% Treynor Ratio 1,538 7.00% Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 Treynor Ratio
167,505 Fund 20.00% Tracking Error 97,230 25.00% 40.00% Tracking Error 59,917 8.00% Fiscal Year Returns Ending September Tracking Error
2005 Return 25.00% Information Ratio 2005 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 50.00% Information Ratio 2005 9.00% Fund Information Ratio
YTD %-tile 30.00% Fund YTD Trailing Returns through June 30, 2005 60.00% Fund YTD 10.00% Return Fund
159,123 Index Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 3 92,448 Fund Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 4 60,176 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr %-tile 2
-1,543 Return   Fiscal Year Returns Ending September 9 -3,488 Return Fiscal Year Returns Ending September   8 -1,768 Trailing Returns through June 30, 2005 Index 10
9,925 %-tile Fund 58.33 8,270 %-tile Fund 41.67 1,509 Fund Return 66.67
167,505 Universe   Return -5.6 97,230 Index Return   -14.86 59,917 Return %-tile -2.18
9/30/1992 5th %-tile %-tile 7.4 9/30/1992 Return %-tile 12.58 9/30/1992 %-tile Universe 4.93
Incept 25th %-tile Index 13 Incept %-tile Index 27.44 Incept Index 5th %-tile 7.11
59,084 50th %-tile Return 4.81 18,638 Universe Return -0.56 36,929 Return 25th %-tile 0.65
-1,135 75th %-tile %-tile 6.16 10,995 5th %-tile %-tile 12.64 -15,798 %-tile 50th %-tile 3.95
109,556 95th %-tile Universe 0.82 67,596 25th %-tile Universe 0.89 38,786 Universe 75th %-tile 0.88
167,505  167,505,000 1 Yr 5th %-tile 0.66 97,230     97,230,000 50th %-tile 5th %-tile -0.35 59,917    59,917,000  5th %-tile  95th %-tile 1.08
Investment Policy 5.86 0.0586 25th %-tile 0.93 Investment Policy 75th %-tile 25th %-tile 0.97 Investment Policy 25th %-tile Qtr 0.99
Index 59 0.3 50th %-tile 0.93 Index 95th %-tile 50th %-tile 0.51 Index 50th %-tile QU. FUND 2.67 0.0267 1.19
S&P 500 1 Yr FUND 6.97 0.0697 75th %-tile 7 S&P 500 1 Yr 75th %-tile 7.24 Lehman Gov/Credit-Intermediate 75th %-tile UNIVERSE 25 5.33
Lehman Gov/Credit-Intermediate UNIVERSE 30 95th %-tile 2.09 Russell 1000 Value 6.27 0.0627   95th %-tile   2.62 Lehman Gov/Credit Bond 95th %-tile   POLICY 2.96 0.0296 0.73
Lehman Gov/Credit Bond POLICY 8.89 Qtr -0.35 Russell 2000 59     Qtr -0.5 Total 1 Yr 9   0.56
Other 7.19 Qtr 1.35 0.0135 Index Total 1 Yr FUND 7.57 0.0757 Qtr 0.67 0.0067 Index Weight 5.64 0.0564 3.02 Index
Weight 6.17 UNIVERSE 96 0.96 4 Weight UNIVERSE 36 UNIVERSE 97 4 50 52 2.66   3
43 5.24 POLICY 2.26 0.0226 8 79.6 POLICY 11.59 POLICY 1.64 0.0164 8 50 1 Yr FUND 6.01 0.0601 2.36 9
23 3.94 36 41.67 13 8.34 67 58.33 100 UNIVERSE 41 1.99 33.33
23 2 Yr   3.1 -7.33 7.4 6.83 3.6 -17.28 Trailing Returns through June 30, 2005 POLICY 8.13 1.58 -2.84
11 8.42 2.42 9.96 100 5.28 2.42   15.98 Fund 6.52 YTD 5.11
Trailing Returns through June 30, 2005 49   2.09 17.29 Trailing Returns through June 30, 2005 3.05 1.9 33.26 Index 5.67 2.61   7.95
Fund 8.69 1.81 4.08 Fund 2 Yr 1.49   0.76 Diff 4.53 59 -0.38
Index 41 1.38 7.23 Index 12.41 0.88 13.93 1 Yr 3.33 2.79   4.47
Diff 11.06 YTD 1 Diff 63 YTD 1 5.64 2 Yr 53 1
1 Yr 9.4 6.27 0 1 Yr 13.72 8.88 0 6.01 3.31 4.34 0
5.86 8.37 51 1 6.27 33 63 1 -0.37 33 3.33 1
6.97 7.6 6.3 0.9 7.57 17.79 9.2 0.56 2 Yr 2.77 2.84 0.96
-1.11 6.1 50 6.48 -1.3 14.17 55 7.75 3.31 53 2.24 4.28
2 Yr 3 Yr   8.56 0 2 Yr 12.97   13.63 0 2.77 6.33 1.59 0
8.42 7.21 0.0721 6.99 Diff 12.41 11.64 10.44 Diff 1/0/1900 3.62 2004 Diff
8.69 58   6.29 -1 13.72 9.41 9.35   0 3 Yr 2.82 2004 3.49 0.0349 -1
-0.27 3 YR FUND 7.95 0.0795 5.67 1 -1.31 3 Yr   8.25   0 6.16 2.19 UNIVERSE 33 1
3 Yr UNIVERSE 33 4.67 16.66 3 Yr 7.91 0.0791 6.83     -16.66 5.75 1.46 POLICY 3 0.03 33.34
7.21 POLICY 10.02 2004   1.73 7.91 63   2004 2.42 0.41 3 Yr 49   0.66
7.95 8.29 2004 8.55 0.0855 -2.56 9.22 3 YR FUND 9.22 0.0922 2004 12.54 0.1254 -3.4 4 Yr 6.16 0.0616 7.43 -0.18
-0.74 7.42 UNIVERSE 53   -4.29 -1.31 UNIVERSE 28 UNIVERSE 59 -5.82 6.8 22 3.83   -0.84
4 Yr 6.65 POLICY 9.37 0.0937 0.73 4 Yr POLICY 11.85 POLICY 14.84 0.1484 -1.32 6.36 3 YR FUND 5.75 0.0575 2.96 1.03
4.84 5.57 32 -1.07 3.1 9.29 24 -1.29 0.44 UNIVERSE 28 2.27 -0.52
4.18 4 Yr   11.56 -0.18 1.67 8.37 17.76 -0.11 5 Yr POLICY 8.94 1.54 -0.12
0.66 4.84 9.85 0.66 1.43 7.36 14.68   -0.35 7.72 5.92 2003 1.08
5 Yr 21   8.62 -0.07 5 Yr 5.58 13 -0.03 7.29 4.97 2003 7.39 0.0739 -0.01
2.37 4.18 7.5 0.03 -1.85 4 Yr 11.25   -0.05 0.43 4.14 UNIVERSE 21 0.23
2.64 37 5.58 0.52 -1.87 3.1 8.46   -0.51 6 Yr 3.24 POLICY 6.26 0.0626 1.05
-0.27 6.28 2003   2.09 0.02 15 2003 2.62 7.04 4 Yr 27   0.73
6 Yr 4.65 2003 13.14 0.1314 5 Yr 5 Yr 6 Yr 1.67 2003 20.44 0.2044 5 Yr 5 Yr 6.78 6.8 15.41 5 Yr 5 Yr
3.74 3.92 UNIVERSE 88   # of Negative Qtrs 0.85 37 UNIVERSE 84 # of Negative Qtrs 0.26 14 6.36   # of Negative Qtrs
3.16 3.22 POLICY 16.76 0.1676 # of Positive Qtrs -0.4 5.33 POLICY 25.6 0.256 # of Positive Qtrs 7 Yr 6.36 4.78 # of Positive Qtrs
0.58 1.79 30 Batting Average 1.25 2.29 27 Batting Average 6.54 21 3.82 Batting Average
7 Yr 5 Yr   21.6 Worst Qtr 7 Yr 1.19 29.74 Worst Qtr 6.29 7.72 2.69 Worst Qtr
4.72 2.37 0.0237 17.25 Best Qtr 1/3/1900 0.4 25.78 Best Qtr 1/0/1900 6.21 2002 Best Qtr
4.58 56   15.62 Range 2.74 -2.07 24.29 Range 8 Yr 5.59 2002 8.77 0.0877 Range
1/0/1900 5 YR FUND 2.64 0.0264 14.26 Worst 4 Qtrs 1/0/1900 5 Yr 22.15 Worst 4 Qtrs 6.96 4.89 UNIVERSE 6 Worst 4 Qtrs
8 Yr UNIVERSE 44 12.26 Standard Deviation 8 Yr -1.85 -0.0185 16.96   Standard Deviation 6.74 4.05 POLICY 8.65 0.0865 Standard Deviation
1/6/1900 POLICY 6.35 2002   Beta 5.73 41 2002 Beta 0.22 5 Yr 8   Beta
6.14 3.96 2002 -1.69 -0.0169 Annualized Alpha 5.86 5 YR FUND -1.87 -0.0187 2002 -9.95 -0.0995 Annualized Alpha 9 Yr 7.72 0.0772 8.8 Annualized Alpha
0.16 2.5 UNIVERSE 5   R-Squared -0.13 UNIVERSE 42 UNIVERSE 6 R-Squared 7.06 6 7.65   R-Squared
9 Yr 1.62 POLICY -7.61 -0.0761 Sharpe Ratio 9 Yr POLICY 5.04 POLICY -20.49 -0.2049 Sharpe Ratio 6.82 5 YR FUND 7.29 0.0729 6.86 Sharpe Ratio
7.7 0 49 Treynor Ratio 8.47 -0.27 56 Treynor Ratio 0.24 UNIVERSE 13 5.67 Treynor Ratio
7.36 6 Yr   -2.27 Tracking Error 1/8/1900 -2.24 -8.97 Tracking Error 10 Yr POLICY 7.73 1.79 Tracking Error
0.34 3.74 -6.32 Information Ratio ################################ -3.22 -17.56   Information Ratio 6.84 6.91 2001 Information Ratio
10 Yr 32   -7.69 Fund Fund 10 Yr -6.45 -20.14 Fund Fund 6.62 6.41 2001 13.27 0.1327 Fund Fund
8.19 3.16 -8.88 7 9.71 6 Yr -20.94   9 0.22 5.79 UNIVERSE 4 2
1/7/1900 46 -11 13 1/10/1900 0.85 -24.85   11 9/30/1992 4.95 POLICY 13.04 0.1304 18
0.25 6.36 2001   Batting Average 60 -0.71 31 2001 Batting Average 50 Incept 6 Yr 7   Batting Average 60
9/30/1992 4 2001 -13.09 -0.1309 -5.87 9/30/1992 -0.4 2001 -31.03 -0.3103 -15 6.67 7.04 13.13 -2.18
Incept 3.04 UNIVERSE 85   7.4 Incept 48 UNIVERSE 81 13.48 1/6/1900 6 12.35   4.93
8.75 2.36 POLICY -9.93 -0.0993 13.27 11.02 7.39 POLICY -26.62 -0.2662 28.48 0.13 6.78 11.69 7.11
8.15 1.1 64 -13.09 11.07 1.48 37 -31.03   Fiscal Year Returns Ending September 12 10.55 0.65
0.6 7 Yr 0.26 Standard Deviation 7.68 -0.05 -0.61 -11.83 Standard Deviation 15.45 Fund 7.11 0.57 Standard Deviation 3.69
Fiscal Year Returns Ending September 4.72 -6.3 Beta 0.92 Fiscal Year Returns Ending September -1.56 -22.64 Beta 0.96 Index 6.37 2000 Beta 0.89
Fund 30 -9.18 Annualized Alpha -0.06 -0.0006 Fund -3.84 -27.46 Annualized Alpha -0.03 -0.0003 Diff 5.94 2000 6.22 0.0622 Annualized Alpha 1.21 0.0121
Index 4.58 -11.43 R-Squared 0.92 Index 7 Yr -29.97 R-Squared 0.94 6/30/2005 5.42 UNIVERSE 33 R-Squared 0.98
Diff 33 -15.32 -0.02 Diff 3.07 -36.71   -0.28 Qtr 4.73 POLICY 6.47 0.0647 1.42
6/30/2005 6.81 2000   -0.13 6/30/2005 29 2000 -4.52 2.67 7 Yr 17   5.88
Qtr 4.91 2000 12.75 0.1275 2.29 Qtr 2.74 2000 17.11 0.1711 3.74 2.96 6.54 6.94 0.72
1.35 4.23 UNIVERSE 30   -0.12 0.67 35 UNIVERSE 34 0.01 -0.29 2 6.33   0.6
2.26 3.69 POLICY 9.86 0.0986 Policy Index 1.64 6.76 POLICY 13.28 0.1328 Policy Index 2005 6.29 5.96 Policy Index
-0.91 2.5 55 8 -0.97 3.3 54 9 YTD 5 5.47 4
2005 8 Yr 23.22 12 2005 2.21 40.85 11 1/2/1900 6.26 2.92 16
YTD 6.3 13.94 40 YTD 1.33 20.53 50 2.79 5.78 1999 40
6.27 21 10.35 -7.33 8.88 -1.04 13.6 -17.28 -0.18 5.42 -0.41 -2.84
6.3 6.14 8.96 9.96 9.2 8 Yr 11.66 15.98 2004 5.03 72 5.11
-0.03 27 5.16 17.29 -0.32 5.73 2.84 33.26 3.49 4.45 -0.5 7.95
2004 7.72 1999 -9.93 2004 28 1999 -26.62 3 8 Yr 75 -0.38
8.55 6.16 14.56 Standard Deviation 7.99 12.54 5.86 30.59 Standard Deviation 15.6 0.49 6.96 3.72 Standard Deviation 4.11
9.37 5.59 34 1 14.84 26 21 1 2003 3 1.67 1
-0.82 5 12.85 0 -2.3 8.03 27.81 0 7.39 6.74 0.54 0
2003 3.9 61 1 2003 5.9 38 1 6.26 6 -0.58 1
13.14 9 Yr 19.88 0.02 20.44 4.98 41.16 -0.28 1.13 6.76 -2.06 1.17
16.76 7.7 15.18 0.15 25.6 4.01 29.93 -4.36 2002 6.26 1998 4.8
-3.62 18 13.65 0 -5.16 2.1 27.21 0 8.77 5.88 11.65 0
2002 7.36 11.08 Diff 2002 9 Yr 21.43 Diff 8.65 5.43 7 Diff
-1.69 26 6.26 -1 -9.95 8.47 14.07 0 0.12 4.87 11.62 -2
-7.61 8.93 1998 1 -20.49 25 1998 0 2001 9 Yr 8 2
5.92 7.39 9.13 20 10.54 8.74 6.61 0 13.27 7.06 12.17 20
2001 6.85 12 1.46 2001 21 40 2.28 13.04 4 9.97 0.66
-13.09 6.26 9.72 -2.56 -31.03 10.75 10.1 -2.5 0.23 6.82 8.86 -0.18
-9.93 5.18 7 -4.02 -26.62 8.45 10 -4.78 2000 10 7.67 -0.84
-3.16 10 Yr 9.95 -3.16 -4.41 7.65 13.37 -4.41 6.22 6.94 2.96 1.03
2000 8.19 7.92 -0.31 2000 6.35 8.63 -0.15 6.47 6.44 1997 -0.42
12.75 15 5.95 -0.08 17.11 4.35 4.34 -0.04 -0.25 6.06 9.19 -0.11
9.86 7.94 3.23 -0.06 13.28 10 Yr -1.66 -0.03 1999 5.65 50 1.21
2.89 22 -1.48 -0.08 3.83 9.71 -11.52 -0.06 -0.41 5.13 8.89 -0.02
1999 9.27 1997 -0.04 1999 36 1997 0 -0.5 10 Yr 59 0.25
14.56 7.83 21.02 -0.28 30.59 10.42 35.14 -0.16 0.09 6.84 12.78 1.08
12.85 7.3 37 2.29 27.81 18 69 3.74 1998 5 10.29 0.72
1.71 6.7 20.52 10 Yr 2.78 12.35 40.62 10 Yr 11.65 6.62 9.17 10 Yr
1998 5.66 46 # of Negative Qtrs 1998 10.02 22 # of Negative Qtrs 11.62 11 8.3 # of Negative Qtrs
9.13 7.16 24.04 # of Positive Qtrs 6.61 9.18 45.59 # of Positive Qtrs 0.03 6.8 7.27 # of Positive Qtrs
9.72 5.89 21.55 Batting Average 1/10/1900 7.91 40.31   Batting Average 6/19/1905 6.28 16.26   Batting Average
-0.59 7.17 20.32 Worst Qtr -3.49 5.79 38.07 Worst Qtr 9.19 5.93 12.82 Worst Qtr
6/19/1905 5.92 18.69 Best Qtr 1997 8.43 34.17   Best Qtr 8.89 5.55 8.28   Best Qtr
21.02 4.24 15.23 Range 35.14 6.08 25.8 Range 0.3 5.08 27 Range
20.52 Worst 4 Qtrs 2/9/1900 7.63 21.63   Worst 4 Qtrs 6/18/1905 5.85 9.46   Worst 4 Qtrs
0.5 Standard Deviation -5.48 3.74 19 Standard Deviation 4.88 5.38 3.7 Standard Deviation
6/18/1905 Beta 1996 17.44   Beta 4.82 2.37   Beta
12.17 Annualized Alpha 20.02 15.88 Annualized Alpha 0.06 1.11 Annualized Alpha
1/11/1900 R-Squared 21.32 14.26 R-Squared Returns in Up Markets 0.39 R-Squared
0.87 Sharpe Ratio -1.3 YTD Sharpe Ratio Fund YTD Sharpe Ratio
Returns in Up Markets Treynor Ratio Returns in Up Markets 12.31 Treynor Ratio Index 4.44 Treynor Ratio
Fund Tracking Error Fund 65 Tracking Error Ratio 37 Tracking Error
Index Information Ratio Index 13.02 Information Ratio 3 Yr 5.23 Information Ratio
Ratio Fund Ratio 50 Fund 9.5 29 Fund
3 Yr 10 3 Yr 17.59 12 9.6 16.11 6
14.3 30 24.2 14.43 28 98.5 5.92 34
18.3 57.5 29.9 13.01 47.5 5 Yr 3.67 62.5
78.4 -5.87 81.1 11.77 -15 10.4 1.98 -2.18
5 Yr 11.41 5 Yr 9.97 22.14 10.4 0.87 4.93
14.1 17.28 27.3 2002 37.14 100.1 2002 7.11
15.6 -13.09 28.2 2002 FUND -21.65   -31.03 10 Yr 2002 FUND 10.49   -0.66
90.4 8.04 4/5/1900 UNIVERSE 88 15.34 1/9/1900 UNIVERSE 11 3.58
10 Yr 0.99 10 Yr POLICY -20.67   0.95 9.7 POLICY 11.02   0.95
1/16/1900 0.37 30.3 84   -0.15 99.5 8 0.53
1/16/1900 0.92 2/1/1900 -9.82 0.93 9/30/1992 11.72   0.97
99.8 0.54 4/3/1900 -13.94 0.38 Incept 9.31 0.84
9/30/1992 4.4 9/30/1992 -16.68 6.19 10.1 7.69   3.17
Incept 2.31 Incept -19.33 4.07 10.2 4.45 0.64
16.3 0.11 27.4 -23.14 -0.17 99 -2.07 0.34
1/15/1900 Index 27.9 2001 Index Returns in Down Markets 2001 Index
103.4 11 98.4 2001 FUND -5.89   12 Fund 2001 FUND 8.73   9
Returns in Down Markets 29 Returns in Down Markets UNIVERSE 74 28 Index UNIVERSE 14 31
Fund 42.5 Fund POLICY -11.08   52.5 Ratio POLICY 8.51   37.5
Index -7.33 Index 96 -17.28 3 Yr 18 -2.84
Ratio 10.4 Ratio 5.46 21.3 -2.4 9.68   5.11
3 Yr 17.73 3 Yr -0.02 38.58 -3.8 8.13 7.95
-5.7 -9.93 -18.6 -3.26 -26.62 62.9 7.33   -0.89
-10 7.82 -22.7 -6.04 15.55 5 Yr 6.21 3.71
56.8 1 81.7 -10.93 1 -2.2 0.36 1
5 Yr 0 5 Yr 2000 0 -4.2 2000 0
-13 1 -28.6 2000 FUND -5.56   1 53.6 2000 FUND 12.61   1
-14.1 0.53 -29.2 UNIVERSE 98 0.42 10 Yr UNIVERSE 8 0.75
92.2 4.11 97.8 POLICY -6.49   6.59 -2.5 POLICY 11.84   2.79
10 Yr 0 10 Yr 99 0 -3.5 15 0
-11.6 Diff -26.6 16.45 Diff 70.7 13.05   Diff
-12.4 -1 ################################ 9.38 0 9/30/1992 11.01 -3
93.4 1 96.5 5.82 0 Incept 9.44   3
9/30/1992 15 9/30/1992 1.47 -5 -2.8 7.02 25
Incept 1.46 Incept -4.06 2.28 -3.5 -8.83 0.66
-10.6 1.01 -25.8 1999 0.84 80.2 1999 -0.18
-11.3 -0.45 -26.4 1999 FUND 19.52   -1.44 1999 FUND -2.72   -0.84
93.5 -3.16 97.5 UNIVERSE 46 -4.41 UNIVERSE 88 0.23
0.22 POLICY 20.41   -0.21 POLICY -2.15   -0.13
-0.01 41 -0.05 83 -0.05
0.37 35.59 -0.15 7   0.53
-0.08 24.4 -0.07 2.72 -0.03
0.01 18.88 -0.04 0.33   0.09
0.29 13.96 -0.4 -1.4 0.38
2.31 8.02 4.07 -3.93 0.64
Incept 1998 Incept 1998 Incept
# of Negative Qtrs 1998 FUND 16.91   # of Negative Qtrs 1998 FUND 9.74   # of Negative Qtrs
# of Positive Qtrs UNIVERSE 13 # of Positive Qtrs UNIVERSE 7 # of Positive Qtrs
Batting Average POLICY 20.4   Batting Average POLICY 9.47   Batting Average
Worst Qtr 6 Worst Qtr 8 Worst Qtr
Best Qtr 21.24 Best Qtr 9.93   Best Qtr
Range 14.25 Range 8.09 Range
Worst 4 Qtrs 9.97 Worst 4 Qtrs 6.94 Worst 4 Qtrs
Standard Deviation 6.68 Standard Deviation 5.76 Standard Deviation
Beta 1.46 Beta -0.13 Beta
Annualized Alpha 1997 Annualized Alpha 1997 Annualized Alpha
R-Squared 38.59 R-Squared 8.55 R-Squared
Sharpe Ratio 1 Sharpe Ratio 54 Sharpe Ratio
Treynor Ratio 30.86 Treynor Ratio 9.75 Treynor Ratio
Tracking Error 16 Tracking Error 26 Tracking Error
Information Ratio 33.38 Information Ratio 14.34 Information Ratio
Fund 29.54 Fund 9.77 Fund
11 26.7 13 8.72 10
40 23.64 38 7.12 41
60.78 16.88 49.02 5.89 62.75
-5.87 1996 -15 1996 -2.78
11.41 19.67 22.14 5.98 5.99
17.28 69 37.14 20 8.77
-13.09 21.34 -31.03 2.91 -3.65
7.53 52 14.19 74 3.76
0.99 28.78 0.96 13.49 0.96
0.69 24.05 0.46 5.37 0.35
0.91 21.49 0.92 3.97 0.97
0.65 18.8 0.5 2.83 0.75
4.94 14.89 7.46 1.19 2.93
2.31 1995 4.02 1995 0.67
0.26 37.47 -0.01 23.05 0.19
Index 31.79 Index 18.43 Index
13 28.75 13 16.26 13
38 25.73 38 12.82 38
39.22 21.74 50.98 8.28 37.25
-7.33 -17.28 -2.84
10.4 21.3 5.74
17.73 38.58 8.58
-9.93 -26.62 -2.9
7.27 14.25 3.85
1 1 1
0 0 0
1 1 1
0.59 0.51 0.7
4.29 7.21 2.68
0 0 0
Diff Diff Diff
-2 0 -3
2 0 3
21.56 -1.96 25.5
1.46 2.28 0.06
1.01 0.84 0.25
-0.45 -1.44 0.19
-3.16 -4.41 -0.75
0.26 -0.06 -0.09
-0.01 -0.04 -0.04
0.69 0.46 0.35
-0.09 -0.08 -0.03
0.06 -0.01 0.05
0.65 0.25 0.25
2.31 4.02 0.67