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
47 Broad Large Cap Core Broad Large Cap Core 55 57 Broad Large Cap Growth Core Broad Large Cap Growth Core 63 65 Broad Small Cap Broad Small Cap 71 73 Broad Large Cap Value Core Broad Large Cap Value Core 79
Inception date is September 30, 1992 49 50 3 Yr Inception date is March 31, 2000 59 60 3 Yr Inception date is March 31, 2003 67 68 Incept 1 Yr Inception date is December 31, 2003 75 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 June 30, 2006 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2000 to June 30, 2006 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is March 31, 2003 to June 30, 2006 Fiscal Year Returns Ending September Batting Average Returns are gross of fees. Incept is December 31, 2003 to June 30, 2006 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through June 30, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through June 30, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through June 30, 2006 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through June 30, 2006 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 -10.00% -50.00% Worst 4 Qtrs Investment G/L -10.00% -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 -5.00% -25.00% Standard Deviation Ending Value -5.00% 0.00% Standard Deviation Ending Value 0.00% -10.00% Standard Deviation
6/30/2006 0.00% -10.00% Beta 6/30/2006 0.00% 0.00% Beta 6/30/2006 0.00% 25.00% Beta 6/30/2006 5.00% 0.00% Beta
Qtr 5.00% 0.00% Annualized Alpha Qtr 5.00% 25.00% Annualized Alpha Qtr 5.00% 50.00% Annualized Alpha Qtr 10.00% 10.00% Annualized Alpha
67,835 10.00% 10.00% R-Squared 23,692 10.00% 50.00% R-Squared 9,490 10.00% 75.00% R-Squared 12,435 15.00% 20.00% R-Squared
-2,918 15.00% 20.00% Sharpe Ratio -26 15.00% 75.00% Sharpe Ratio -13 15.00% 100.00% Sharpe Ratio -18 20.00% 30.00% Sharpe Ratio
-985 20.00% 30.00% Treynor Ratio -867 20.00% Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio -245 20.00% Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio -60 Qtr YTD 1 Yr 2 Yr Incept 40.00% Treynor Ratio
63,933 25.00% 40.00% Tracking Error 22,800 25.00% Fiscal Year Returns Ending September Tracking Error 9,232 25.00% Fiscal Year Returns Ending September Tracking Error 12,357 Trailing Returns through June 30, 2006 Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Tracking Error
2006 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 50.00% Information Ratio 2006 2 Qtrs 3 Qtrs 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr Fund Information Ratio 2006 30.00% Fund Information Ratio 2006 Fund Fiscal Year Returns Ending September Information Ratio
YTD Trailing Returns through June 30, 2006 Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Fund YTD Trailing Returns through June 30, 2006 Return Fund YTD 35.00% Return Fund Fund YTD Return Fund Fund
61,936 Fund Fiscal Year Returns Ending September 4 22,361 Fund %-tile 4 8,379 40.00% %-tile 1 11,618 %-tile Return 1
-2,436 Return Fund 8 -59 Return R1000G 8 -48 Qtr YTD 1 Yr 2 Yr 3 Yr Incept FR2000 3 -51 R1000V %-tile 3
4,433 %-tile Return 41.67 497 %-tile Return 41.67 900 Trailing Returns through June 30, 2006 Return Batting Average 75 791 Return R1000V 25
63,933 S&P 500 %-tile -1.92 22,800 R1000G %-tile -4.92 9,232 Fund %-tile -2.59 12,357 %-tile Return -0.49
9/30/1992 Return S&P 500 12.06 3/31/2000 Return Universe 11.01 3/31/2003 Return Universe 12.13 12/31/2003 Universe %-tile 4.25
Incept %-tile Return 13.98 Incept %-tile 5th %-tile 15.93 Incept %-tile 5th %-tile 14.72 Incept 5th %-tile Universe 4.74
  18,638 Universe %-tile 5.29 10,795 Universe 25th %-tile 3.94 4,822 FR2000 25th %-tile 17.53 7,800 25th %-tile 5th %-tile 7.22  
-27,739 5th %-tile Universe 8.37 13,532 5th %-tile 50th %-tile 8.79 -185 Return 50th %-tile Standard Deviation 12.05 2,373 50th %-tile 25th %-tile 6.56
73,033 25th %-tile 5th %-tile 1.03 -1,527 25th %-tile 75th %-tile 1 4,595 %-tile 75th %-tile Beta 0.84 2,184 75th %-tile 50th %-tile BETA 0.73
63,933  63,933,000  50th %-tile  25th %-tile 0.98 22,800  22,800,000 50th %-tile 95th %-tile -0.48 9,232    9,232,000 Universe 95th %-tile Annualized Alpha 4.8 0.048 12,357           12,357,000 95th %-tile 75th %-tile ALPHA -1.38 -0.0138 #REF!
Investment Policy 75th %-tile 50th %-tile 0.87 Investment Policy 75th %-tile Qtr 0.95 Investment Policy 5th %-tile Qtr R-Squared 0.95 Investment Policy Qtr 95th %-tile 0.59
Index 95th %-tile 75th %-tile 1.22 Index 95th %-tile QU. FUND -3.66 -0.0366 0.62 Index 25th %-tile QU. FUND -2.59 -0.0259 1.13 Index -0.49 -0.0049 Qtr 0.5
S&P 500 1 Yr 95th %-tile 9.93 Russell 1000 Growth 2 Qtrs UNIVERSE 39   5.47 Russell 2000 50th %-tile UNIVERSE 12   16.17 Russell 1000 Value 36   -0.49 -0.0049 4.48
Total 13.62 0.1362 Qtr 2.97 Total -0.98 POLICY -3.9 -0.039 1.91 Total 75th %-tile POLICY -5.02 -0.0502 3.58 Total 0.59 0.0059 36   4.57
Weight 8   -1.55 -0.0155 0.44 Weight 65 46 -0.3 Weight 95th %-tile 54 0.83 Weight 13 0.59 0.0059 -1.07
100 1 Yr FUND 8.63 0.0863 QU. FUND 41   S&P 500 100 -0.93 -1.39 R1000G 100 Qtr -1.91 Policy FR2000 100 1.73 13 R1000V
100 UNIVERSE 47 UNIVERSE -1.44 -0.0144 3 100 64 -3.05 3 100 -2.59 -0.0259 -3.39 1 100 -0.06 1.73 0
Trailing Returns through June 30, 2006 POLICY 14.47 POLICY 30 9 Trailing Returns through June 30, 2006 4.9 -4.08   9 Trailing Returns through June 30, 2006 12 -4.84   3 Trailing Returns through June 30, 2006 -1.29 -0.06 4
Fund 10.4 0.64 58.33 Fund 2.03 -5.16 58.33 Fund -5.02 -0.0502 -6.35 25 Fund -1.6 -1.29 75
S&P 500 8.45 -1.19 -2.15 R1000G 0.28 -6.87   -5.23 FR2000 54 -9.22   -5.02 R1000V -3.2   -1.6 0.59
Diff 6.77 -1.85 12.18 Diff -1.67 YTD 10.41 Diff -1.91 YTD 13.93 Diff YTD -3.2   5.93
1 Yr 2.92 -3.28   14.33 1 Yr -4.38 2.22 15.64 1 Yr -3.39 10.76 18.95 1 Yr 6.81   YTD 5.34 1 Yr FUND #REF!
13.62 2 Yr -5.66 4.91 1/5/1900 3 Qtrs 64 1.16 1/17/1900 -4.84 20 14.57 1/7/1900 24 6.81   12.1 UNIVERSE
8.63 9.37 YTD   7.64 6.11 2.22 2.02 8.62 14.57 -6.35 9.44 Standard Deviation 13.97 12.1 7.91 24 6.87 POLICY #REF!
4.99 26 6.94 1 -0.34 64 67 1 2.96 -9.22 28 1 -4.88 13 7.91 1
2 Yr 7.47 16 0 2 Yr 2.02 8.65 0 2 Yr YTD 13.84 0 2 Yr 9.32 13 0
9.37 50 4.85 1 1/4/1900 67 5.33 1 1/15/1900 10.76 9.78 1 1/8/1900 6.74 9.32 1
7.47 13.45 42 1.17 3.87 8.65 2.98 0.7 11.98 20 7.83 0.76 13.07 4.82 6.74 1.19
1.9 9.47 8.45 8.91 0.98 5.33 1.38 6.04 3.4 9.44 5.58 10.62 -4.29 4.38 4.82 8.15
3 Yr 7.4 5.82 0 3 Yr 2.98 -1.66 0 3 Yr 28 1.51 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 1.98 4.38 0
1/12/1900 6.2 4.67 Diff 7.78 1.38 2005   Diff 1/20/1900 INCEPTION 13.84 2005   Diff 12/31/2003 1 Yr 1.98 Diff
Incept ROR 11.22 2.54 3.13 1   1/8/1900 -1.66 2004 FUND 13.12 0.1312 1 1/18/1900 UNIVERSE 9.78 2004 FUND 21.9 0.219 0 Incept 7.22 0.0722 2005 1     
Fund 1.32 3 Yr 0.06 -1   -0.57 1 Yr UNIVERSE 55   -1 1.35 POLICY 7.83 UNIVERSE 23   0 8.34 85   11.9 0.119 -1     
Policy 4 Yr 12.54 0.1254 2005 -16.66   4 Yr 5.77 0.0577 POLICY 11.6 0.116 -16.66 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 5.58 POLICY 17.95 0.1795 50 12.05 12.1 0.121 62   -50    
9.23 31   14.04   0.23 1/5/1900 71 71 0.31 3/31/2003 1.51 63 2.43 -3.71 16 16.69 0.1669 -1.08
8.37 3 Yr FUND 11.22 0.1122 2004 FUND 38 -0.12 1/6/1900 1 Yr FUND 6.11 0.0611 25.77 0.6 Incept 1 Yr 26.4 -1.8 Fiscal Year Returns Ending September 14.78 23 -1.68
0.86 UNIVERSE 46 UNIVERSE 12.25 -0.35 -1.62 UNIVERSE 67 18.07 0.29 23.07 17.53 0.1753 21.72 -4.23 Fund 10.78 24.1 -0.6
5 Yr POLICY 17.3 POLICY 57 0.38 5 Yr POLICY 16.13 13.56   2.78 24.98   18 19.25   2.96 R1000V 8.58 16.12 -4.88
5.40 12.96 22.88 0.73 1/0/1900 11.16 11.02 0.17 ################################# 14.57 0.1457 16.53 -1.92 Diff 7.95 12.74   -0.31
2.49 11 15.79 0.03 -0.76 7.39 7.76   0 Fiscal Year Returns Ending September 37 11.14   -0.16 6/30/2006 5.17   11.06 -0.27
2.91 9.54 12.59 0.98 1.54 5.36 2004   -0.48 Fund 23.55 2004   4.8 Qtr 2 Yr 7.98   -1.38
6 Yr 6.34 11.47 -0.13 6 Yr 2.75 2003 FUND 4.69 0.0469 -0.05 FR2000 3 Yr FUND 15.92 2003 FUND 22.46 0.2246 -0.05 -0.49 8.78 0.0878 2004   -0.41 3 Yr FUND #REF!
0.83 4 Yr 7.61 0.05 -2.63 2 Yr UNIVERSE 87   -0.08 Diff UNIVERSE 13.35 UNIVERSE 26   0.37 1/0/1900 43   23.92 0.2392 -0.69  N/A
-0.62 9.23 2004 1.02 ############################## 4.85 POLICY 7.51 0.0751 -0.57 6/30/2006 POLICY 10.66 POLICY 18.78 0.1878 5.55 -1.08 13.07 0.1307 18.34   -3.67   #REF!
1.45 29 13.63 2.97 5.17 65 61 1.91 Qtr 5.31 54 3.58 2006 10 14.42 0.1442 4.57
7 Yr 8.37 2003 FUND 39 5 Yr 7 Yr 8 Yr 9 Yr 10 Yr 3.87 15.25 5 Yr -2.59 2 Yr 28.92 2 Yr YTD 14.19 13.02 2 Yr
2.73 40 UNIVERSE 13.87 5 Yr # of Negative Qtrs 3/31/2000 78 11.67 # of Negative Qtrs -5.02 15.38 22.49 # of Negative Qtrs 6.81 10.41 8.08 # of Negative Qtrs
1/0/1900 12.61 POLICY 35 # of Positive Qtrs Incept 13.93 8.28 # of Positive Qtrs 1/2/1900 15 19.1 # of Positive Qtrs 1/7/1900 7.98 2003 # of Positive Qtrs
2.29   9.46 19.71 Batting Average ############################## 8.7 6.32 Batting Average 6/28/1905 11.98 16.07 Batting Average ################################# 7.03 27.67 Batting Average
8 Yr   8.04 14.67 Worst Qtr -7.9 5.88 2.06 Worst Qtr YTD 46 8.02 Worst Qtr 2005 4.91 23.98 Worst Qtr
1/4/1900 6.67 13.19 Best Qtr 1/5/1900 4.1 2003   Best Qtr 1/10/1900 17.76 2003   Best Qtr 1/11/1900 Incept 21.95 Best Qtr
3.01 4.47 10.23 Range Fiscal Year Returns Ending September 1.71 2002 FUND 19.31 0.1931 Range 1/9/1900 13.9 2002 FUND 48.25 0.4825 Range 1/16/1900 8.34 19.27   Range
1.45 5 Yr   5.93 Worst 4 Qtrs Fund 3 Yr UNIVERSE 63   Worst 4 Qtrs 1.32 11.65 UNIVERSE 34.58   Worst 4 Qtrs -4.79 37   15.84 Worst 4 Qtrs
9 Yr 5.4 0.054 2003 Standard Deviation R1000G 7.78 0.0778 POLICY 25.91 0.2591 Standard Deviation 2005 9.38 POLICY 30.01 0.3001 Standard Deviation 2004 2003 2002 2001 2000 1999 1998 1997 12.05 0.37 2002   Standard Deviation 5 Yr FUND
6.7 16   20.49 Beta Diff 78 17 Beta 1/21/1900 5.78 25.9 Beta Returns in Up Markets 11   -6.38 Beta  N/A
5.76 5 Yr FUND 2.49 0.0249 2002 FUND 73 Annualized Alpha 6/30/2006 3 Yr FUND 8.35 0.0835 30.61 Annualized Alpha 17.95 3 Yr 19.17 Annualized Alpha Fund 13.54 0.11 -15.42 Annualized Alpha  
0.94 UNIVERSE 48 UNIVERSE 24.4 R-Squared Qtr UNIVERSE 69 23.77 R-Squared 3.95 20.05 0.2005 2002 R-Squared R1000V 9.58 -18.95 R-Squared
10 Yr POLICY 8.79 POLICY 25 Sharpe Ratio -3.66 POLICY 17.01 20.39   Sharpe Ratio 2004 24 6.59   Sharpe Ratio Ratio 7.34 -20.72 Sharpe Ratio
9.09 3.96 29.75 Treynor Ratio -3.9 12.34   18.37 Treynor Ratio 22.46 18.7 0.187 -1.82 Treynor Ratio 1 Yr 6.88 -24.03   Treynor Ratio
1/8/1900 2.35 24.33 Tracking Error 1/0/1900 9.67 14.19   Tracking Error 1/18/1900 38 -7.42   Tracking Error 1/7/1900 4.77   2001 Tracking Error
0.74 1.14 23.28 Information Ratio 2006 8 2002   Information Ratio 3.68 23.84 -12.12   Information Ratio 12.1 5.47   Information Ratio
9/30/1992 -1.68 20.05 Fund Fund YTD 5.65 2001 FUND -17.07 -0.1707 Fund 2003 2002 2001 2000 1999 1998 1997 5 Yr FUND 19.91 2001 FUND -19.94 -0.1994 Fund 59.7   -5.14   Fund #REF!
Incept 6 Yr 14.08 8 2.22 4 Yr UNIVERSE 15   8 Returns in Up Markets N/A 17.74 UNIVERSE 2001   3 2 Yr   -13.19 -0.27 2
11.29 0.83 2002 12 2.02 5.35 POLICY -22.51 -0.2251 12 Fund   15.63 POLICY 9.26 0.0926 5 8.8 0 -23.01   6 #REF!
10.61 37 -7.86 Batting Average 50 0.2 77 63 45 FR2000 11.42 -2.9 75 1/13/1900   -27 0.2225 25
0.68 -0.62 2001 FUND 1 -15.47 2005 6.97 -12.11 -14.71 Ratio Incept -15.03 -3.18 67.2 0 2000 -0.99
Fiscal Year Returns Ending September 52 UNIVERSE -20.49 14.77 13.12 54 -19.07 11.01 1 Yr 23.07 -25.09 14.37 12/31/2003 22.25 9.53
Fund 11.08 POLICY 60 30.24 1/11/1900 13.61 -21.45 25.72 1/20/1900 55 -41.08 17.55 Incept 13.38 10.52
S&P 500 3.12 -10.38 -19.42 1.52   9.27 -23.71 -21.93 20.6 24.98 2000 8.08 8.3 8.39 5.18
Diff -0.56 -17.12 Standard Deviation 12.99 2004   7.21 -29.04 12.14 100.1 33 62.14 12.34 12 3.08 6.96
6/30/2006 -1.87 -19.82 Beta 0.92 4.69 5.46 2001   0.77 2 Yr 30.43 39.49   Beta 0.78 69.2 -3.5 0.81
Qtr -6.74 -21.16 Annualized Alpha 3.05 0.0305 7.51 3.71 2000 FUND -30.23 -0.3023 1.24 0.0124 33.2 25.57 2000 FUND 30.15 0.3015 Alpha 5.51 0.0551   Returns in Down Markets 1999   -1.51 -0.0151  
-1.55 7 Yr -25.68 R-Squared 0.91   -2.82 5 Yr UNIVERSE 7   0.9 33.6 23.49 UNIVERSE 19.95   0.92 Fund   28.08 0.1547 0.71
-1.44 2.73 2001 0.25 2003 0.78 0.0078 POLICY -45.64 -0.4564 -0.11 99.1 20.81 POLICY 9.11 0.0911 1 R1000V 0 20.54   0.83
-0.11 27 -31.06 3.52 19.31 45 84 -1.79 3 Yr 16.68 1999 15.88 Ratio   15.47 0.0446 7.15
2006 0.44 2000 FUND 84 3.97 25.91 5 Yr FUND -0.76 -0.0076 -29.08 5.04 1/31/1900 50.94 4.74 1 Yr 2 Yr 0 11.7 4.01
YTD 55 UNIVERSE -26.62 0.73 -6.6 UNIVERSE 65 -35.09 0.31 33.5 31.67 0.72 12/31/2003 4.46 -1.07
6.94 9.17 POLICY 52 Policy S&P 500 2002 POLICY 8.01 -38.5 R1000G 94.9 21.4 FR2000 Incept 1998 R1000V
4.85 2.99 -12.56 7 ############################## 2.81 -43.41 8 3/31/2003 11.57 3 9.83 0
2.09 0.62 -20.73 13 -22.51 0.34 -51.41 12 Incept 1.61 5 6.07 8
2005 -0.31 -26.57 50 5.44 -1.53 2000 55 34.8 1998 25 1.83 75
14.04 -3.04 -28.89 -17.28 2001 -3.62 46.3 -19.41 41.1 -1.61 -5.34 -0.8 0.09
12.25 8 Yr -35.02 15.39 -30.23 6 Yr 27.14 15.14 84.9 -9.72 14.09 -5.82 10.38
1/1/1900 4.46 2000 32.67 -45.64 -2.63 20.88 34.55 Returns in Down Markets -16.12 19.43 10.29
2004 26 16.14 -24.76 15.41 39 14.34 -27.89 Fund -20.15 4.55 7.05
13.63 3.01 30 13.49 2000 1999 1998 1997   -7.8 8.45 14.92 FR2000 -27.66 15.19 7.22
1/13/1900 48 13.28 Standard Deviation 1 Returns in Up Markets 87 1999 1 Ratio   1 1
################################### 8.82 46 0 Fund 8.04 38.21 0 1 Yr 0 0
2003 4.51 27.56 1 R1000G -0.32 31.55 1 -2.6   1 1
20.49 2.89 17 0.02 Ratio -3.9 27.96 -0.2 -5 0.59 1.4
24.4 2.03 13.02 0.33 3 Yr -6.59 26.33 -2.92 51.6 8.99 10.08 QU. FUND #REF!
-3.91 -0.3 9.15 0 16.4 -9.71 20.01 0 2 Yr 0 0 UNIVERSE
2002 9 Yr 1.34 Diff 18.2 7 Yr 1998 Diff -7 Diff Diff POLICY #REF!
-7.86 6.7 1999 1 90.4 7.46 16.52 0 -12.7 0 2
-20.49 23 30.59 -1 5 Yr 1.76 9.1 0 55.3 0 -2
12.63 5.76 19 0 21.4 -0.77 7.45 -10 3 Yr 50 -50
2001 37 26.68 1.81 27.1 -2.47 2.95 4.7 -7 2.16 -1.08
-31.06 10.57 41 -0.62 78.9 -5.18 -4.96 -4.13 -12.7 0.28 -0.85
-26.62 6.5 36.18   -2.43 6 Yr 8 Yr -8.83 55.3 QU. FUND   -1.88 0.23
-4.44 5.42 28.77 5.34 1/21/1900 9.85 5.96 3/31/2003 UNIVERSE 3.53 -1.87
2000 4.29 24.51   -0.5 27.9 4.03 -2.78 Incept POLICY   -2.85 -0.26
16.14 2.21 16.71 -0.08 77.8 2.06 -0.23 -7 -0.22 -0.19
13.28 10 Yr 9.03 3.05 3/31/2000 0.24 1.24 -12.7 5.51 -1.51
2.86 9.09 1998 -0.09 Incept -2.02 -0.1 55.3 -0.08 -0.29
1999 20 6.61 0.23 21.7 1.2 0.09 0.41 -0.57
30.59 8.35 31 3.19 27.9 -0.77 1.13 6.89 -2.93
26.68 30 10.1 3.97 77.8 4.64 5.04 4.74 4.01
1/3/1900 11.98 13 10 Yr Returns in Down Markets 2.32 6 Yr 3 Yr Incept Incept
1998 8.7 15.53 # of Negative Qtrs Fund # of Negative Qtrs # of Negative Qtrs # of Negative Qtrs
6.61 7.73 7.46 # of Positive Qtrs R1000G # of Positive Qtrs # of Positive Qtrs # of Positive Qtrs
10.1 6.66 3.17   Batting Average Ratio Batting Average Batting Average Batting Average 2002 FUND #REF!
-3.49 4.46 -0.89 Worst Qtr 3 Yr Worst Qtr Worst Qtr Worst Qtr UNIVERSE
1997 5.02 -8.95   Best Qtr -11.1 Best Qtr Best Qtr Best Qtr POLICY #REF!
35.14 6.17 27.93 Range -12.6 Range Range Range
40.62 8.4 Worst 4 Qtrs 3/27/1900 Worst 4 Qtrs Worst 4 Qtrs Worst 4 Qtrs
-5.48 6.23 Standard Deviation 5 Yr Standard Deviation Standard Deviation Standard Deviation
Returns in Up Markets Beta -23.7 Beta Beta Beta
Fund Annualized Alpha -31.5 Annualized Alpha Annualized Alpha Annualized Alpha
S&P 500   R-Squared 75.3 R-Squared 2002 FUND   R-Squared R-Squared
Ratio Sharpe Ratio 6 Yr Sharpe Ratio UNIVERSE Sharpe Ratio Sharpe Ratio
3 Yr   Treynor Ratio -25.2 Treynor Ratio POLICY   Treynor Ratio Treynor Ratio 2001 FUND #REF!
19 Tracking Error -37.4 Tracking Error Tracking Error Tracking Error UNIVERSE
18.1   Information Ratio 67.4 Information Ratio Information Ratio Information Ratio POLICY #REF!
105 Fund 3/31/2000 Fund Fund Fund
5 Yr 14 Incept 10 3 3
25.1 26 -23.4 14 9 7  
24.1 50 -35.5 50 58.33 30 Batting Average
104 -15.47 66 -14.71 -3.18 -0.99
10 Yr   22.14 11.01 2001 FUND   14.47 9.53
30.5 37.61 25.72 UNIVERSE 17.65 10.52
30.3   -31.06 -30.23 POLICY   8.08 5.18 2000 FUND #REF!
100.5 15.53 13.74 11.24 6.65  N/A Standard Deviation
9/30/1992   0.96 0.67 0.73 0.8   #REF! Beta
Incept 1.04   2.53 0.0253 5.76 0.0576 -1.03 -0.0103 Annualized Alpha #REF!
26.9 0.92 0.86 0.88 0.71 R-Squared
26.4 0.35 -0.39 1.58 0.87
101.6 5.64 -8 24.3 7.2
Returns in Down Markets 4.35 8.02 5.43 3.88
Fund   0.17 0.64 2000 FUND   0.25 -0.96
S&P 500 S&P 500 R1000G UNIVERSE FR2000 R1000V Policy
Ratio   13 11 POLICY   3 0 1999 FUND #REF!
3 Yr 27 13 9 10  N/A
-3.6   50 50 41.67 70   #REF!
-5.4 -17.28 -21.35 -5.34 0.09
67.2 21.13 15.14 14.52 10.38
5 Yr 38.41 36.49 19.86 10.29
-23.3 -26.62 -45.64 4.55 7.05
-28.2 15.48 18.95 14.39 7.03 Standard Deviation
82.8   1 1 1999 FUND   1 1
10 Yr 0 0 N/A 0 0
-24.8   1 1     1 1 1998 FUND #REF!
-26.2 0.3 -0.56 1.14 1.35  N/A
94.7   4.67 -10.53 16.39 9.47   #REF!
9/30/1992 0 0 0 0
Incept Diff Diff Diff Diff
-24.2 1 -1 0 3
-25.3 -1 1 0 -3
95.6 0 0 16.66 -40
1.81 6.64 1998 FUND 2.16 -1.08
1.01 -4.13 N/A -0.05 -0.85
  -0.8 -10.77     -2.21 0.23 #REF!
-4.44 15.41   3.53 -1.87
  0.05 -5.21   -3.15 -0.38 #REF!
-0.04 -0.33 -0.27 -0.2
1.04 2.53 5.76 -1.03
-0.08 -0.14 -0.12 -0.29
0.05 0.17 0.44 -0.48
0.97 2.53 7.91 -2.27
4.35 8.02 5.43 3.88
Incept Incept Incept Incept Incept
  # of Negative Qtrs # of Negative Qtrs   # of Negative Qtrs  
# of Positive Qtrs # of Positive Qtrs # of Positive Qtrs
  Batting Average Batting Average   Batting Average  
Worst Qtr Worst Qtr Worst Qtr
Best Qtr Best Qtr Best Qtr
Range Range Range
Worst 4 Qtrs Worst 4 Qtrs Worst 4 Qtrs
Standard Deviation Standard Deviation Standard Deviation
Beta Beta Beta
Annualized Alpha Annualized Alpha Annualized Alpha
R-Squared R-Squared R-Squared
Sharpe Ratio Sharpe Ratio Sharpe Ratio
Treynor Ratio Treynor Ratio Treynor Ratio
Tracking Error Tracking Error Tracking Error
Information Ratio Information Ratio Information Ratio
Fund Fund Fund Fund Fund
15 11 3
  40 14 10
Batting Average 49.09 Batting Average 52 53.85
-15.47 -14.71 -3.18
22.14 11.01 14.47
37.61 25.72 17.65
-31.06 -30.23 8.08
Standard Deviation 13.93 Standard Deviation 13.69 11.17
Beta 0.96 Beta 0.67 0.67
Annualized Alpha 1.06 0.0106 Annualized Alpha 2.66 0.0266 5.78 0.0578 0.000578
R-Squared 0.91 R-Squared 0.87 0.85
0.53 -0.39 1.87
7.73 -8.04 31.12
4.23 8.03 6.61
0.16 0.67 -0.29
Policy S&P 500 Policy R1000G FR2000
14 12 3
41 13 10
50.91 48 46.15
-17.28 -21.35 -5.34
21.13 15.14 23.42
38.41 36.49 28.76
-26.62 -45.64 4.55
Standard Deviation 13.79 Standard Deviation 19.01 15.31
1 1 1
0 0 0
1 1 1
0.49 -0.57 1.49
6.74 -10.75 22.76
0 0 0
Diff Diff Diff
1 -1 0
-1 1 0
-1.82 4 7.7
1.81 6.64 2.16
1.01 -4.13 -8.95
-0.8 -10.77 -11.11
-4.44 15.41 3.53
0.14 -5.32 -4.14
-0.04 -0.33 -0.33
1.06 2.66 5.78
-0.09 -0.13 -0.15
0.04 0.18 0.38
0.99 2.71 8.36
4.23 8.03 6.61
-0.09
0.02
0.64
4.32