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
43 Broad Large Cap Core Broad Large Cap Core 51 53 Broad Large Cap Growth Core Broad Large Cap Growth Core 59 61 Broad Small Cap Broad Small Cap 67 69 Broad Large Cap Value Core Broad Large Cap Value Core 75
Inception date is September 30, 1992 45 46 3 Yr Inception date is March 31, 2000 55 56 3 Yr Inception date is March 31, 2003 63 64 Incept 1 Yr Inception date is December 31, 2003 71 72 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 June 30, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2000 to June 30, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2003 to June 30, 2005 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is December 31, 2003 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 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 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 -15.00% -50.00% Worst 4 Qtrs Investment G/L 0.00% -25.00% Worst 4 Qtrs Investment G/L -5.00% -20.00% Worst 4 Qtrs
Ending Value -5.00% -20.00% Standard Deviation Ending Value -10.00% -25.00% Standard Deviation Ending Value 5.00% 0.00% Standard Deviation Ending Value 0.00% -10.00% Standard Deviation
6/30/2005 0.00% -10.00% Beta 6/30/2005 -5.00% 0.00% Beta 6/30/2005 10.00% 25.00% Beta 6/30/2005 5.00% 0.00% Beta
Qtr 5.00% 0.00% Annualized Alpha Qtr 0.00% 25.00% Annualized Alpha Qtr 15.00% 50.00% Annualized Alpha Qtr 10.00% 10.00% Annualized Alpha
61,344 10.00% 10.00% R-Squared 20,325 5.00% 50.00% R-Squared 7,643 20.00% 75.00% R-Squared 11,468 15.00% 20.00% R-Squared
-2,879 15.00% 20.00% Sharpe Ratio -18 10.00% 75.00% Sharpe Ratio -16 25.00% 100.00% Sharpe Ratio -16 20.00% 30.00% Sharpe Ratio
-100 20.00% 30.00% Treynor Ratio 293 15.00% Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 Treynor Ratio 285 30.00% Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 Treynor Ratio 137 25.00% 40.00% Treynor Ratio
58,365 25.00% 40.00% Tracking Error 20,601 20.00% Fiscal Year Returns Ending September Tracking Error 7,912 35.00% Fiscal Year Returns Ending September Tracking Error 11,589 Qtr YTD 1 Yr Incept 50.00% Tracking Error
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 25.00% Fund Information Ratio 2005 40.00% Fund Information Ratio 2005 Trailing Returns through June 30, 2005 60.00% Information Ratio
YTD Trailing Returns through June 30, 2005 60.00% Fund YTD 2 Qtrs 3 Qtrs 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr Return Fund YTD 45.00% Return Fund Fund YTD Fund Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 Fund
57,066 Fund Qtr YTD 2004 2003 2002 2001 2000 1999 1998 1997 5 18,899 Trailing Returns through June 30, 2005 %-tile 5 6,929 Qtr YTD 1 Yr 2 Yr Incept %-tile 2 10,442 Return Fiscal Year Returns Ending September 1
-3,007 Return Fiscal Year Returns Ending September 7 -58 Fund R1000G 7 -46 Trailing Returns through June 30, 2005 FR2000 2 -47 %-tile Fund 3
4,306 %-tile Fund 41.67 1,759 Return Return 33.33 1,029 Fund Return Batting Average 75 1,195 R1000V Return 25
58,365 S&P 500 Return -14.76 20,601 %-tile %-tile -14.71 7,912 Return %-tile -3.18 11,589 Return %-tile -0.99
9/30/1992 Return %-tile 12.92 3/31/2000 R1000G Universe 11.01 3/31/2003 %-tile Universe 14.37 12/31/2003 %-tile R1000V 9.53
Incept %-tile S&P 500 27.68 Incept Return 5th %-tile 25.72 Incept FR2000 5th %-tile 17.55 Incept Universe Return 10.52
  18,638 Universe Return -0.14 10,795 %-tile 25th %-tile -1.62 4,822 Return 25th %-tile 13.28 7,800 5th %-tile %-tile 10.37  
-25,249 5th %-tile %-tile 12.7 12,556 Universe 50th %-tile 12.67 -121 %-tile 50th %-tile Standard Deviation 12.61 2,441 25th %-tile Universe 7.31
64,975 25th %-tile Universe 0.9 -2,750 5th %-tile 75th %-tile 0.91 3,211 Universe 75th %-tile Beta 0.74 1,349 50th %-tile 5th %-tile BETA 0.87
58,365  58,365,000  50th %-tile  5th %-tile 0.3 20,601  20,601,000 25th %-tile 95th %-tile -1.31 7,912    7,912,000 5th %-tile 95th %-tile Annualized Alpha 5.8 0.058 11,589           11,589,000 75th %-tile 25th %-tile ALPHA -1.58 -0.0158 #REF!
Investment Policy 75th %-tile 25th %-tile 0.95 Investment Policy 50th %-tile Qtr 0.94 Investment Policy 25th %-tile Qtr R-Squared 0.91 Investment Policy 95th %-tile 50th %-tile 0.81
Index 95th %-tile 50th %-tile 0.5 Index 75th %-tile QU. FUND 1.44 0.0144 0.3 Index 50th %-tile QU. FUND 3.74 0.0374 0.89 Index Qtr #VALUE! 75th %-tile 1.14
S&P 500 1 Yr 75th %-tile 7.03 Russell 1000 Growth 95th %-tile UNIVERSE 80   4.11 Russell 2000 75th %-tile UNIVERSE 43   15.19 Russell 1000 Value 1.2 0.012 95th %-tile 9.57
Total 5.29 0.0529 95th %-tile 3.13 Total 2 Qtrs POLICY 2.46 0.0246 3.31 Total 95th %-tile POLICY 4.32 0.0432 5.67 Total 63   Qtr 3.35
Weight 71   Qtr   -0.15 Weight -1.53 50 -0.62 Weight Qtr 31 0.68 Weight 1.67 0.0167 1.2 0.012 -1.1
100 1 Yr FUND 6.32 0.0632 QU. FUND -0.1 -0.001 S&P 500 100 57 6.42 R1000G 100 3.74 0.0374 6.08 Policy FR2000 100 36 63   R1000V
100 UNIVERSE 50 UNIVERSE 94   4 100 -1.72 3.71 4 100 43 4.52 2 100 3.9 1.67 0.0167 0
Trailing Returns through June 30, 2005 POLICY 13.62 POLICY 1.37 0.0137 8 Trailing Returns through June 30, 2005 62 2.39   8 Trailing Returns through June 30, 2005 4.32 0.0432 3.44   2 Trailing Returns through June 30, 2005 1.99 36 4
Fund 8.97 57 58.33 Fund 3.41 1.76 66.67 Fund 31 2.47 25 Fund 1.34   3.9 75
S&P 500 6.25 4.17 -17.28 R1000G 0.17 0.21   -15.05 FR2000 6.08 0.78   -5.34 R1000V 0.85 1.99 0.09
Diff 4.59 2.22 15.39 Diff -1.24 YTD 14.31 Diff 4.52 YTD 14.09 Diff -0.35   1.34   10.38
1 Yr 0.71 1.44   32.67 1 Yr -2.39 9.32 29.36 1 Yr 3.44 14.88 19.43 1 Yr YTD 0.85 10.29 1 Yr FUND #REF!
5.29 2 Yr 1.18 0.25 1/3/1900 -4.32 42 1.16 1/13/1900 2.47 30 9.45 1/10/1900 11.47 -0.35   14.06 UNIVERSE
6.32 12.01 -0.24   13.75 1.68 3 Qtrs 7.29 13.57 9.45 0.78 12.66 Standard Deviation 16.29 14.06 24 YTD 7.55 POLICY #REF!
-1.03 57 YTD 1 2.26 9.32 67 1 3.83 YTD 57 1 -3.69 12.33 11.47 1
2 Yr 12.53 7.35 0 2 Yr 42 16.46 0 2 Yr 14.88 18.83 0 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 19 24 0
12.01 44 79 1 1/8/1900 7.29 10.8 1 1/21/1900 30 15.18 1 12/31/2003 18.31 12.33 1
12.53 18.86 8.35 0.5 9.48 67 8.49 0.43 20.82 12.66 13.23 0.45 Incept 11.19 19 1.59
-0.52 14.25 54 6.81 -0.69 16.46 6.74 5.78 0.51 57 11 7.41 9.09 8.83 18.31 12.02
3 Yr 12.25 15.11 0 3 Yr 10.8 3.95 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 18.83 6.64 0 12.01 7.81 11.19 0
1/7/1900 10.64 10.5 Diff 5.21 8.49 2004   Diff 3/31/2003 INCEPTION 15.18 2004   Diff -2.92 5.48 8.83 Diff
Incept ROR 8.28 7.24 8.45 1   1/7/1900 6.74 2004 FUND 4.69 0.0469 1 Incept UNIVERSE 13.23 2004 FUND 22.46 0.2246 0 Fiscal Year Returns Ending September 1 Yr   7.81 1     
Fund -0.48 3 Yr   7.63 -1   -2.04 3.95 UNIVERSE 87   -1 25.62 POLICY 11 UNIVERSE 26   0 Fund 10.37 0.1037 5.48 -1     
Policy 4 Yr 7.8 0.078 4.78 -16.66   4 Yr 1 Yr POLICY 7.51 0.0751 -33.34 29.9 6.64 POLICY 18.78 0.1878 50 R1000V 29   2004   -50    
3.44 52   2004   2.52 ############################## 3.94 0.0394 61 0.34 -4.28 1 Yr 54 2.16 Diff 14.06 0.1406 23.92 0.2392 -1.08
1.01 3 Yr FUND 8.28 0.0828 2004 FUND 13.63 0.1363 -2.47 ############################## 1 Yr FUND 50 15.25 -3.3 Fiscal Year Returns Ending September 13.28 0.1328 28.92 0.28 6/30/2005 11 18.34   -0.85
2.43 UNIVERSE 37 UNIVERSE 39   -4.99 1.98 UNIVERSE 1.68 0.0168 11.67 -3.64 Fund 27 22.49 -1.88 Qtr 18.61 14.42 0.1442 0.23
5 Yr POLICY 12.34 POLICY 13.87 0.1387 -0.39 5 Yr POLICY 73 8.28   -2.78 FR2000   9.45 0.0945 19.1   3.83 1.2 10.82 13.02 -3.69
-1.55 8.97 35 -1.05 ############################## 12.92 6.32 -0.9 Diff 53 16.07 -3.68 1/1/1900 7.83   8.08 -0.24
-2.37 7.84 19.71 -0.1 -10.36 7.39 2.06   -0.09 6/30/2005 17.81 8.02   -0.26 -0.47 5.83 2003 -0.13
0.82 6.13 14.67 0.3 6.13 3.89 2003   -1.31 Qtr 13.5 2003   5.8 2005 2.78   27.67   -1.58
6 Yr 4.19 13.19   -0.05 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 1.53 2003 FUND 19.31 0.1931 -0.06 3.74 3 Yr FUND 9.73 2003 FUND 48.25 0.4825 -0.09 YTD Incept   23.98 -0.19 3 Yr FUND #REF!
1.02 4 Yr 10.23 0 36616.00 -1.5 UNIVERSE 63   -0.13 1/4/1900 UNIVERSE 6.36 UNIVERSE 34.58   0.44 1/11/1900 9.09 0.0909 21.95   -0.45  N/A
-0.87 3.44 5.93   0.22 Incept 2 Yr POLICY 25.91 0.2591 -1.67 -0.58 POLICY 1.83 POLICY 30.01 0.3001 7.78 12.33 32   19.27   -2.45   #REF!
1.89 15 2003   3.13 -4.05 8.79 0.0879 17 3.31 2005 2 Yr 25.9 5.67 -0.86 12.01 0.1201 15.84 0.1584 3.35
7 Yr 1.01 2003 FUND 20.49 0.2049 5 Yr -10.36 72 30.61 4 Yr YTD 21.33 0.2133 19.17 2 Yr 2004 2003 2002 2001 2000 1999 1998 1997 1996 16 2002   Incept
3.21 44 UNIVERSE 73   5 Yr # of Negative Qtrs 6.31 9.48 0.0948 23.77 # of Negative Qtrs 14.88 39 2002 # of Negative Qtrs Returns in Up Markets 16.75 -6.38 -0.0638 # of Negative Qtrs
1/2/1900 6.07 POLICY 24.4 0.244 # of Positive Qtrs Fiscal Year Returns Ending September 61 20.39 # of Positive Qtrs 1/12/1900 20.82 0.2082 6.59 # of Positive Qtrs Fund 9.72 -15.42 # of Positive Qtrs
0.98   2.34 25 Batting Average Fund 19.38 18.37 Batting Average 1/2/1900 44 -1.82 Batting Average R1000V 7 -18.95 Batting Average
8 Yr   0.79 29.75 Worst Qtr R1000G 13.06 14.19 Worst Qtr 2004 26.52 -7.42 Worst Qtr Ratio 5.86 -20.72 Worst Qtr
1/5/1900 -0.34 24.33 Best Qtr Diff 10.1 2002   Best Qtr 1/22/1900 22.8 -12.12   Best Qtr 1 Yr 3.33 -24.03 Best Qtr
5.4 -2.85 23.28 Range 6/30/2005 8.55 2002 FUND -17.07 -0.1707 Range 1/18/1900 20.19 2002 FUND -19.94 -0.1994 Range 1/10/1900   2001 Range
0.46 5 Yr   20.05 Worst 4 Qtrs Qtr 5.42 UNIVERSE 15   Worst 4 Qtrs 3.68 17.25 UNIVERSE 2001   Worst 4 Qtrs 14.1 0 5.47 Worst 4 Qtrs
9 Yr -1.55 -0.0155 14.08 Standard Deviation 1.44 3 Yr POLICY -22.51 -0.2251 Standard Deviation 2003 2002 2001 2000 1999 1998 1997 1996 13.04 POLICY 9.26 0.0926 Standard Deviation 73.8   -5.14   Standard Deviation 5 Yr FUND
8.59 38   2002   Beta 1/2/1900 5.21 0.0521 63 Beta Returns in Up Markets Incept -2.9 Beta 12/31/2003 0 -13.19 -0.1319 Beta  N/A
8.32 5 Yr FUND -2.37 -0.0237 2002 FUND -7.86 -0.0786 Annualized Alpha -1.02 3 Yr FUND 71 -12.11 Annualized Alpha Fund 25.62 -15.03 Annualized Alpha Incept -23.01   Annualized Alpha  
0.27 UNIVERSE 50 UNIVERSE 1   R-Squared 2005 UNIVERSE 7.25 0.0725 -19.07 R-Squared FR2000 72 -25.09 R-Squared 9.1 -27 -0.27 R-Squared
10 Yr POLICY 5.58 POLICY -20.49 -0.2049 Sharpe Ratio YTD POLICY 38 -21.45   Sharpe Ratio Ratio 29.9 -41.08   Sharpe Ratio 12 2000 Sharpe Ratio
9.82 0.2 60 Treynor Ratio 9.32 11.61 -23.71 Treynor Ratio 1 Yr 36 2000 Treynor Ratio 75.7   22.25 Treynor Ratio
1/10/1900 -2.42 -10.38 Tracking Error 1/7/1900 8.85   -29.04   Tracking Error 1/18/1900 36.99 62.14   Tracking Error Returns in Down Markets 13.38 Tracking Error
-0.22 -3.59 -17.12 Information Ratio 2.03 6.39 2001   Information Ratio 19 31.21 39.49   Information Ratio Fund   8.39   Information Ratio
9/30/1992 -7.1 -19.82   Fund Fund 2004 4.8 2001 FUND -30.23 -0.3023 Fund 98.1 5 Yr FUND 28.19 2001 FUND 30.15 0.3015 Fund R1000V   3.08 Fund #REF!
Incept 6 Yr -21.16 10 4.69 2.99 UNIVERSE 7   7 2 Yr N/A 24.47 UNIVERSE 19.95   2 Ratio 0 -3.5   2
11.11 1.02 -25.68   10 7.51 4 Yr POLICY -45.64 -0.4564 9 33.5   20.59 POLICY 9.11 0.0911 6 1 Yr   1999   4 #REF!
10.77 30 2001   Batting Average 50 -2.82 -0.43 -0.0043 84 43.75 2/5/1900 1999 50 12/31/2003 0 28.08 0.2808 33.33
0.34 -0.87 2001 FUND -31.06 -0.3106 -15.47 2003 36 -29.08 -14.71 92.8 50.94 -3.18 Incept 20.54   -0.99
Fiscal Year Returns Ending September 56 UNIVERSE 84   14.77 19.31 -2.41 -0.0241 -35.09 11.01 3/31/2003 31.67 14.47 15.47 0.1547 9.53
Fund 6.16 POLICY -26.62 -0.2662 30.24 1/25/1900 58 -38.5 25.72 Incept 21.4 17.65 11.7 10.52
S&P 500 1.45 52 -31.06 -6.6   3.57 -43.41 -21.93 37.7 11.57 13.28 4.46 8.32
Diff -0.67 -12.56 Standard Deviation 15.72 2002   0.63 -51.41 13.02 46.9 1.61 10.81 1998 6.71
6/30/2005 -1.57 -20.73 Beta 0.98 -17.07 -1.7 2000   0.76 80.4 1998   Beta 0.69 9.83 0.83
Qtr -4.12 -26.57 Annualized Alpha 0.85 0.0085 -22.51 -3.88 2000 FUND 46.3 0.463 1.27   Returns in Down Markets 2000 FUND -1.61 -0.0161 Alpha 6.45 0.0645     6.07 -0.75 -0.0075  
-0.1 7 Yr -28.89 R-Squared 0.92   5.44 -5.64 UNIVERSE 27.14   0.9 Fund UNIVERSE -9.72   0.86 0 1.83 0.79
1.37 3.21 -35.02 -0.26 2001 5 Yr POLICY 20.88 0.2088 -0.16 FR2000 POLICY -16.12 -0.1612 1.83   -0.8   1.11
-1.47 29 2000   -4.12 -30.23 -4.23 -0.0423 14.34 -2.82 Ratio -20.15 28.74 0 -5.82 -0.0582 8.94
2005 2.23 2000 FUND 16.14 0.1614 4.41 -45.64 5 Yr FUND 22 8.45 5.59 1 Yr -27.66 6.14 1997   3.32
YTD 48 UNIVERSE 30   0.19 15.41 UNIVERSE -10.36 -0.1036 1999 0.35 -4.5 1997 0.08 40.89 0.4089 -0.88
7.35 7.1 POLICY 13.28 0.1328 Policy S&P 500 2000 1999 1998 1997 1996 POLICY 86 38.21 R1000G -8 50.43 FR2000 37.35 R1000V
8.35 3.48 46 9 Returns in Up Markets -1.02 31.55 7 56.3 37.65 2 34.36 0
-1 2.11 27.56 11 Fund -4.84 27.96 9 2 Yr 31.25 6 29.65 6
2004 1.19 17 50 R1000G -7.51 26.33 56.25 -4.5 23.64 50 22.45 66.67
13.63 -1.08 13.02 -17.28 Ratio -9.28 20.01 -19.41 -8 13.98 -5.34 0.09
13.87 8 Yr 9.15 15.39 3 Yr -12.13 1998 15.14 56.3 10.54 14.52 10.38
################################### 5.86 1.34 32.67 22.6 6 Yr 16.52 34.55 3/31/2003 19.86 10.29
2003 28 1999 -26.62 27.1 5.16 9.1 -27.89 Incept 5.41 13.17
20.49 5.4 30.59 15.47 83.6   -0.01 7.45 16.21 -4.5 14.57 7.13
1/24/1900 37 19 Standard Deviation 1 4 Yr -2.87 2.95 1 #################################   1 1
################################### 9.23 26.68 0 24.2 -4.4 -4.96 0 56.3 0 0
2002 6.11 41 1 31.7 -6.67 1997 1   1 1
-7.86 5.07 36.18 -0.31 76.2 7 Yr 47.4 -0.25 1.33 1.45
-20.49 3.95 28.77 -4.86 5 Yr 7.31 40.13 -4.12 19.32 10.34 QU. FUND #REF!
12.63 1.66 24.51 0 24.4 2.91 36.8 0 0 0 UNIVERSE
2001 9 Yr 16.71 Diff 32.4 0.87 32.7 Diff Diff Diff POLICY #REF!
-31.06 8.59 9.03 1 75.3 -0.76 28.02 0 0 2
-26.62 26 1998 -1 3/31/2000 -2.82 11.91 0 0 -2
-4.44 8.32 6.61 0 Incept 8 Yr -12.5 0 -33.34
2000 29 31 1.81 24.4 9.35 4.7 2.16 -1.08
16.14 11.33 10.1 -0.62 32.4 6.08 -4.13 -0.05 -0.85
13.28 8.6 13   -2.43 75.3 4.12 -8.83 QU. FUND   -2.21 0.23
2.86 7.72 15.53 -4.44 Returns in Down Markets 2.88 5.96 UNIVERSE 7.87 -4.85
1999 6.43 7.46   0.25 Fund 0.74 -3.19 POLICY   -3.76 -0.42
30.59 4.12 3.17 -0.02 R1000G 2.33 -0.24 -0.31 -0.17
26.68 10 Yr -0.89 0.85 Ratio 8 Yr 1.27 6.45 -0.75
3.91 9.82 -8.95 -0.08 3 Yr 12.56 -0.1 -0.14 -0.21
1998 31 1997 0.05 -22.6 7.89 0.09 0.5 -0.34
6.61 10.04 35.14 0.74 -23.6 6.15 1.3 9.42 -1.4
10.1 26 53 4.41 95.7 4.64 5.59 6.14 3.32
################################### 12.85 40.62 10 Yr 4 Yr 2.32 5 Yr Incept Incept
1997 10.07 10 # of Negative Qtrs -25.1 # of Negative Qtrs # of Negative Qtrs
35.14 9.2 42.56 # of Positive Qtrs -33.7 # of Positive Qtrs # of Positive Qtrs
40.62 7.89 38.43   Batting Average 74.4 Batting Average Batting Average 2002 FUND #REF!
-5.48 5.85 35.41 Worst Qtr 5 Yr Worst Qtr Worst Qtr UNIVERSE
1996 8.55 32.81   Best Qtr -26.3 Best Qtr Best Qtr POLICY #REF!
20.02 6.17 27.93 Range -39.3 Range Range
21.32 8.4 Worst 4 Qtrs 3/6/1900 Worst 4 Qtrs Worst 4 Qtrs
-1.3 6.23 Standard Deviation 3/31/2000 Standard Deviation Standard Deviation
Returns in Up Markets Beta Incept Beta Beta
Fund Annualized Alpha -24.2 Annualized Alpha Annualized Alpha
S&P 500   R-Squared -37.1 R-Squared 2002 FUND   R-Squared
Ratio Sharpe Ratio 65.3 Sharpe Ratio UNIVERSE Sharpe Ratio
3 Yr   Treynor Ratio Treynor Ratio POLICY   Treynor Ratio 2001 FUND #REF!
23 Tracking Error Tracking Error Tracking Error UNIVERSE
28.5   Information Ratio Information Ratio Information Ratio POLICY #REF!
80.7 Fund Fund Fund
5 Yr 13 9 2
27.2 27 11 7  
27.2 47.5 50 44.44 Batting Average
99.7 -15.47 -14.71 -3.18
10 Yr   22.14 11.01 2001 FUND   14.47
30.2 37.61 25.72 UNIVERSE 17.65
31.7   -31.06 -30.23 POLICY   13.28 2000 FUND #REF!
95.2 15.46 14.63 10.71  N/A Standard Deviation
9/30/1992   0.96 0.67 0.62   #REF! Beta
Incept 0.25   2.63 0.0263 6.7 0.067 Annualized Alpha #REF!
27.3 0.92 0.86 0.82 R-Squared
27.5 0.39 -0.46 2.26
99.4 6.24 -10.03 38.97
Returns in Down Markets 4.4 8.73 7.51
Fund   -0.05 0.7 2000 FUND   -0.57
S&P 500 S&P 500 R1000G UNIVERSE FR2000 Policy
Ratio   12 10 POLICY   2 1999 FUND #REF!
3 Yr 28 10 7  N/A
-17.2   52.5 50 55.56   #REF!
-23.1 -17.28 -21.35 -5.34
74.4 21.13 15.14 23.42
5 Yr 38.41 36.49 28.76
-28 -26.62 -45.64 5.41
-29.4 15.48 20.4 15.73 Standard Deviation
95.3   1 1 1999 FUND   1
10 Yr 0 0 N/A 0
-26.2   1 1     1 1998 FUND #REF!
-27.7 0.4 -0.63 1.81  N/A
94.5   6.21 -12.85 28.44   #REF!
9/30/1992 0 0 0
Incept Diff Diff Diff
-25.4 1 -1 0
-26.6 -1 1 0
95.5 -5 0 -11.12
1.81 6.64 1998 FUND 2.16
1.01 -4.13 N/A -8.95
  -0.8 -10.77     -11.11 #REF!
-4.44 15.41   7.87
  -0.02 -5.77   -5.02 #REF!
-0.04 -0.33 -0.38
0.25 2.63 6.7
-0.08 -0.14 -0.18
-0.01 0.17 0.45
0.03 2.82 10.53
4.4 8.73 7.51
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
  37 11
Batting Average 49.02 Batting Average 52.38
-15.47 -14.71
22.14 11.01
37.61 25.72
-31.06 -30.23
Standard Deviation 14.29 Standard Deviation 14.53
Beta 0.96 Beta 0.66
Annualized Alpha 0.77 0.0077 Annualized Alpha 2.77 0.0277 0 0
R-Squared 0.91 R-Squared 0.86
0.51 -0.46
7.55 -10.14
4.27 8.72
0.08 0.72
Policy S&P 500 Policy R1000G
13 11
38 10
50.98 47.62
-17.28 -21.35
21.13 15.14
38.41 36.49
-26.62 -45.64
Standard Deviation 14.19 Standard Deviation 20.39
1 1
0 0
1 1
0.49 -0.64
6.91 -13
0 0
Diff Diff
1 -1
-1 1
-1.96 4.76
1.81 6.64
1.01 -4.13
-0.8 -10.77
-4.44 15.41
0.1 -5.86
-0.04 -0.34
0.77 2.77
-0.09 -0.14
0.02 0.18
0.64 2.86
4.27 8.72
-0.09
0.02
0.64
4.32