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 Universe 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 2 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 June 30, 2007 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2000 to June 30, 2007 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is March 31, 2003 to June 30, 2007 Fiscal Year Returns Ending September Batting Average Returns are net of fees. Incept is December 31, 2003 to June 30, 2007 Fiscal Year Returns Ending September Batting Average
Account Reconciliation Trailing Returns through June 30, 2007 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through June 30, 2007 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through June 30, 2007 5-25th %tile 25-50th %tile 50-75th %tile Worst Qtr Account Reconciliation Trailing Returns through June 30, 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
6/30/2007 Return -10.00% Beta 6/30/2007 Return 0.00% Beta 6/30/2007 Return 25.00% Beta 6/30/2007 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
68,901 Universe 10.00% R-Squared 24,560 Universe 50.00% R-Squared 10,717 Universe 75.00% R-Squared 14,653 Universe 20.00% R-Squared
-733 5th %-tile 20.00% Sharpe Ratio -2 5th %-tile 75.00% Sharpe Ratio 6 5th %-tile 100.00% Sharpe Ratio -1 5th %-tile 30.00% Sharpe Ratio
6,653 25th %-tile 30.00% Treynor Ratio 1,435 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 737 25th %-tile Qtr YTD 2005 2004 2003 2002 2001 2000 1999 1998 Treynor Ratio 818 25th %-tile 40.00% Treynor Ratio
74,821 50th %-tile 40.00% Tracking Error 25,993 50th %-tile Fiscal Year Returns Ending September Tracking Error 11,460 50th %-tile Fiscal Year Returns Ending September Tracking Error 15,470 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 0
-5,360 25.47 0.2547 Fund 8 -6 8.58 R1000G 9 15 13.06 FR2000 6 -3 6.62 %-tile 4
12,227 1   Return 50 2,725 8 Return 50 2,230 13 Return Batting Average 75 1,881 82 R1000V 25
74,821 20.59 0.2059 %-tile -1.92 25,993 8.13 %-tile -5.04 11,460 6.45 %-tile -2.78 15,470 6.23 Return 0.98
9/30/1992 37 S&P 500 9.72 3/31/2000 21 Universe 10.88 3/31/2003 86 Universe 11.93 12/31/2003 89 %-tile 6.77
Incept 24.43 Return 11.64 Incept 8.66 5th %-tile 15.92 Incept 14.55 5th %-tile 14.71 Incept 11.27 Universe 5.79
  18,638 21.18 %-tile 5.29 10,795 8.02 25th %-tile 3.43 4,822 11.87 25th %-tile 9.79 7,800 8.36 5th %-tile 19.45  
-32,717 20.25 Universe 7.65 14,079 7.37 50th %-tile 8.5 27 9.58 50th %-tile Standard Deviation 9.9 3,104 7.31 25th %-tile 6.02
88,899 19.16 5th %-tile 0.95 1,119 7.08 75th %-tile 0.93 6,611 7.49 75th %-tile Beta 0.83 4,566 6.86 50th %-tile BETA 0.84
74,821  74,821,000                                                                                                             16 25th %-tile 3.12 25,993  25,993,000 6.76 95th %-tile -0.6 11,460  11,460,000 4.33 95th %-tile Annualized Alpha 6.55 0.0655 15,470           15,470,000 5.6 75th %-tile ALPHA 1.1 0.011 #REF!
Investment Policy 2 Yr 50th %-tile 0.82 Investment Policy 3 Qtrs Qtr 0.94 Investment Policy 3 Qtrs Qtr R-Squared 0.93 Investment Policy 3 Qtrs 95th %-tile 0.76
Index 19.4 75th %-tile 1.41 Index 11.71 QU. FUND -3.66 -0.0366 0.44 Index 24.18 QU. FUND -2.59 -0.0259 1.58 Index 13.84 Qtr 2.39
S&P 500 1 95th %-tile 11.38 Russell 1000 Growth 100 UNIVERSE 39   4.04 Russell 2000 8 UNIVERSE 12   18.87 Russell 1000 Value 85 -0.49 -0.0049 17.12
Total 14.45 Qtr 3.23 Total 14.53 POLICY -3.9 -0.039 2.23 Total 15.93 POLICY -5.02 -0.0502 3.24 Total 14.73 36   3.13
Weight 45 -1.55 -0.0155 0.87 Weight 15 46 -0.57 Weight 77 54 1.44 Weight 48 0.59 0.0059 -0.77
100 1 Yr FUND 18.29 QU. FUND 41   S&P 500 100 15.63 -1.39 R1000G 100 25.04 -1.91 Policy FR2000 100 20.53 13 R1000V
100 UNIVERSE 15.4 UNIVERSE -1.44 -0.0144 3 100 14.06 -3.05 3 100 20.35 -3.39 1 100 16.73 1.73 0
Trailing Returns through June 30, 2007 POLICY 14.34 POLICY 30 9 Trailing Returns through June 30, 2007 12.8 -4.08   9 Trailing Returns through June 30, 2007 18.27 -4.84   7 Trailing Returns through June 30, 2007 14.42 -0.06 4
Fund 13.57 0.64 50 Fund 12.46 -5.16 50 Fund 16.13 -6.35 25 Fund 13.99 -1.29 75
S&P 500 10.82 -1.19 -2.15 R1000G 12.22 -6.87   -5.23 FR2000 11.62 -9.22   -5.02 R1000V 13.18 -1.6 1.24
Diff 3 Yr -1.85 9.23 Diff 1 Yr YTD 9.17 Diff 1 Yr YTD 13.93 Diff 1 Yr -3.2   8
1 Yr 14.49 0.1449 -3.28   11.38 1 Yr 14.04 0.1404 2.22 14.4 1 Yr 23.82 0.2382 10.76 18.95 1 Yr 19.45 0.1945 YTD 6.76 1 Yr FUND #REF!
25.47 13   -5.66 4.91 1/14/1900 100 64 1.68 1/23/1900 10 20 5.91 1/19/1900 93   6.81   21.86 UNIVERSE
20.59 11.68 0.1168 YTD   7.29 19.04 19.04 0.1904 2.02 8.83 16.44 16.44 0.1644 9.44 Standard Deviation 11.44 21.86 21.86 0.2186 24 6.2 POLICY #REF!
4.88 50 6.94 1 -5 18 67 1 7.38 59 28 1 -2.41 39 7.91 1
2 Yr 15.88 16 0 2 Yr 20.61 8.65 0 2 Yr 26.54 13.84 0 2 Yr 26.75 13 0
19.4 12.81 4.85 1 1/9/1900 18.58 5.33 1 1/20/1900 20.08 9.78 1 1/12/1900 22.69 9.32 1
14.45 11.65 42 1.1 12.39 16.56 2.98 0.57 15.5 17.42 7.83 0.96 16.88 21.13 6.74 2.71
4.95 11.01 8.45 8 -2.89 16 1.38 5.02 4.67 14.93 5.58 10.99 -4.01 20.44 4.82 16.79
3 Yr 7.78 5.82 0 3 Yr 15.02 -1.66 0 3 Yr 9.78 1.51 0 3 Yr 19.15   4.38 0
1/14/1900 4 Yr 4.67 Diff 7.44 2 Yr 2005   Diff 1/17/1900 INCEPTION 2 Yr 2005   Diff 1/11/1900 2 Yr 1.98 Diff
Incept ROR 11.68 15.64 3.13 1   1/8/1900 9.5 2004 FUND 13.12 0.1312 0 1/13/1900 UNIVERSE 20.17 2004 FUND 21.9 0.219 1 1/15/1900 12.87 0.1287 2005 0     
Fund 2.81 15 0.06 -1   -1.26 100 UNIVERSE 55   0 4.06 POLICY 14 UNIVERSE 23   -1 -4.11 100 11.9 0.119 0     
Policy 4 Yr 13.49 2005 0   4 Yr 12.39 POLICY 11.6 0.116 0 4 Yr 15.5 POLICY 17.95 0.1795 50 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 16.88 0.1688 62   -50    
15.64 46 14.04   0.23 1/8/1900 27 71 0.19 1/20/1900 54 63 2.24 12/31/2003 23 16.69 0.1669 -0.26
13.49 3 Yr FUND 17.15 2004 FUND 38 0.49 1/10/1900 1 Yr FUND 15.28 25.77 1.71 1/18/1900 22.11 26.4 -2 Incept 20.65 23 -1.23
2.15 UNIVERSE 14.67 UNIVERSE 12.25 0.26 -2.05 UNIVERSE 12.45 18.07 1.52 2.14 17.69 21.72 -4.24 11 16.68 24.1 -0.97
5 Yr POLICY 13.37 POLICY 57 0.38 5 Yr POLICY 11.32 13.56   1.75 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr   15.79 19.25   3.88 14.77 15.41 16.12 -2.41
12.30 12.61 22.88 0.36 1/6/1900 11.05 11.02 -0.33 3/31/2003 13.83 16.53 -1.54 ############################################### 14.39 12.74   -0.18
10.71 9.78 15.79 -0.05 9.28 10.33 7.76   -0.07 Incept 10.27 11.14   -0.17 Fiscal Year Returns Ending September 13.53 11.06 -0.16
1.59 5 Yr   12.59 3.12 -2.7 3 Yr 2004   -0.6 22.52 3 Yr 2004   6.55 Fund 3 Yr 7.98   1.1
6 Yr 12.3 0.123 11.47 -0.18 6 Yr 7.44 0.0744 2003 FUND 4.69 0.0469 -0.06 22.92 3 Yr FUND 17.51 0.1751 2003 FUND 22.46 0.2246 -0.07 R1000V 11.82 0.1182 2004   -0.24 3 Yr FUND #REF!
8.51 16   7.61 0.31 2.43 100 UNIVERSE 87   -0.13 ############################################### UNIVERSE 10 UNIVERSE 26   0.62 Diff 70 23.92 0.2392 -0.32  N/A
5.31 10.71 0.1071 2004 3.38 1/2/1900 8.7 0.087 POLICY 7.51 0.0751 -0.98 Fiscal Year Returns Ending September POLICY 13.45 0.1345 POLICY 18.78 0.1878 7.88 6/30/2007 15.93 0.1593 18.34   0.33   #REF!
3.2 40 13.63 3.23 0.14 57 61 2.23 Fund 60 54 3.24 Qtr 16 14.42 0.1442 3.13
7 Yr 13.74 2003 FUND 39 5 Yr 7 Yr 12.19 15.25 5 Yr FR2000 18.7 28.92 3 Yr 5.58 17.84 13.02 2 Yr
4.03 11.68 UNIVERSE 13.87 5 Yr # of Negative Qtrs ############################################### 10.12   11.67 # of Negative Qtrs Diff 15.74 22.49 # of Negative Qtrs 4.92 14.78 8.08 # of Negative Qtrs
1/2/1900 10.51 POLICY 35 # of Positive Qtrs ############################################### 8.79 8.28 # of Positive Qtrs 6/30/2007 14.08 19.1 # of Positive Qtrs 1/0/1900 13.12 2003 # of Positive Qtrs
1.87   9.64 19.71 Batting Average 1/3/1900 8.41 6.32 Batting Average Qtr 12.57 16.07 Batting Average 6/29/1905 11.63 27.67 Batting Average
8 Yr   7.82 14.67 Worst Qtr 8 Yr 9 Yr 10 Yr 7.86 2.06 Worst Qtr 6.88 9.94 8.02 Worst Qtr YTD 11.03 23.98 Worst Qtr
1/5/1900 6 Yr 13.19 Best Qtr 3/31/2000 4 Yr 2003   Best Qtr 1/4/1900 4 Yr 2003   Best Qtr 1/13/1900 4 Yr 21.95 Best Qtr
2.76 8.51 10.23 Range Incept 8.88 2002 FUND 19.31 0.1931 Range 1/2/1900 20.27 0.2027 2002 FUND 48.25 0.4825 Range 1/14/1900 19.06 19.27   Range
2.57 12 5.93 Worst 4 Qtrs -0.85 100 UNIVERSE 63   Worst 4 Qtrs 2007 24 UNIVERSE 34.58   Worst 4 Qtrs -0.89 16.02 15.84 Worst 4 Qtrs
9 Yr 5.31 2003 Standard Deviation -4.59 10.93 POLICY 25.91 0.2591 Standard Deviation YTD 18.13 0.1813 POLICY 30.01 0.3001 Standard Deviation 2006 14.86 2002   Standard Deviation 5 Yr FUND
6.61 48 20.49 Beta 1/3/1900 42 17 Beta 1/24/1900 57 25.9 Beta 1/11/1900 13.38 -6.38 Beta  N/A
4.83 5 Yr FUND 9.65 2002 FUND 73 Annualized Alpha Fiscal Year Returns Ending September 3 Yr FUND 15.1 30.61 Annualized Alpha 15.93 23.15 19.17 Annualized Alpha 14.62 12.41 -15.42 Annualized Alpha  
1.78 UNIVERSE 6.76 UNIVERSE 24.4 R-Squared Fund UNIVERSE 11.48 23.77 R-Squared 8.25 20.17 2002 R-Squared -2.99 5 Yr -18.95 R-Squared
10 Yr POLICY 5.18 POLICY 25 Sharpe Ratio R1000G POLICY 10.67 20.39   Sharpe Ratio 2006 18.65 6.59   Sharpe Ratio 2005 14.72 -20.72 Sharpe Ratio
8.44 4.47 29.75 Treynor Ratio Diff 10.45 18.37 Treynor Ratio 9.79 16.64 -1.82 Treynor Ratio 11.29 12.34 -24.03   Treynor Ratio
1/7/1900 2.28 24.33 Tracking Error 6/30/2007 9.3 14.19   Tracking Error 1/9/1900 14.25 -7.42   Tracking Error 1/16/1900 11.32 2001 Tracking Error
1.29 7 Yr 23.28 Information Ratio Qtr 5 Yr 2002   Information Ratio -0.13 5 Yr -12.12   Information Ratio -5.4 10.53 5.47   Information Ratio
9/30/1992 4.03 20.05 Fund Fund 5.84 6.58 0.0658 2001 FUND -17.07 -0.1707 Fund 2005 5 Yr FUND 18.42 2001 FUND -19.94 -0.1994 Fund 2004 2003 2002 2001 2000 1999 1998 9.22 -5.14   Fund #REF!
Incept 31 14.08 6 6.86 100 UNIVERSE 15   6 1/20/1900 N/A 16.15 UNIVERSE 2001   4 Returns in Up Markets 6 Yr -13.19 -0.27 1
12.2 2.16 2002 14 -1.02 9.28 0.0928 POLICY -22.51 -0.2251 14 17.95   14.31 POLICY 9.26 0.0926 8 Fund 10.26 -23.01   7 #REF!
11.26 52 -7.86 Batting Average 50 2007 24 63 35 1/3/1900 12.57 -2.9 75 R1000V 8.61 -27 0.2225 25
0.94 10.22 2001 FUND 1 -14.76 YTD 11.46 -12.11 -14.83 2004 10.93 -15.03 -3.38 Ratio 7.33 2000 -0.62
Fiscal Year Returns Ending September 5.38 UNIVERSE -20.49 12.92 11.71 9.1 -19.07 10.88 1/21/1900 6 Yr -25.09 14.17 1 Yr 5.26 22.25 6.77
Fund 2.2 POLICY 60 27.68 1/14/1900 8.09 -21.45 25.71 1/18/1900 16.6 -41.08 17.55 1/19/1900 4.45 13.38 7.39
S&P 500 1.54 -10.38 -0.14 -2.82   7.76 -23.71 -2.11 2.72 13.8 2000 7.22 21.9 7 Yr 8.39 6.66
Diff -1.93 -17.12 Standard Deviation 10.87 2006   6.85 -29.04 10.77 2003 2002 2001 2000 1999 1998 11.11 62.14 10.88 89 11.8 3.08 6.43
6/30/2007 8 Yr -19.82 Beta 0.91 3.97 6 Yr 2001   0.9 Returns in Up Markets 8.96 39.49   Beta 0.78 2 Yr 8.91 -3.5 0.79
Qtr 5.33 -21.16 Annualized Alpha 2.41 0.0241 6.03 2.43 2000 FUND -30.23 -0.3023 -1.6 -0.016 Fund 4.49 2000 FUND 30.15 0.3015 Alpha 6.37 0.0637   12.9 7 1999   -0.27 -0.0027  
9.72 27 -25.68 R-Squared 0.92   -2.06 47 UNIVERSE 7   0.94 FR2000 7 Yr UNIVERSE 19.95   0.92 1/16/1900 3.05 28.08 0.1547 0.68
6.28 2.76 2001 0.89 2005 2.29 POLICY -45.64 -0.4564 0.36 Ratio 18.73 POLICY 9.11 0.0911 1.27 76.2 2 20.54   1.3
3.44 59 -31.06 10.58 12.44 49 84 4.34 2 Yr 15.41 1999 17.73 3 Yr 8 Yr 15.47 0.0446 10.58
2007 7.94 2000 FUND 84 3.31 11.6 5 Yr FUND 5.67 -29.08 2.95 1/25/1900 11.08 50.94 4.23 11.8 8.6 11.7 3.91
YTD 5.66 UNIVERSE -26.62 0.48 0.84 UNIVERSE 3.86 -35.09 -0.92 21.4 5.58 31.67 0.96 1/15/1900 6.87 4.46 -1.03
18.68 3.13 POLICY 52 Policy S&P 500 2004 POLICY 2.27 -38.5 R1000G 118.4 -2.34 21.4 FR2000 74.2 5.72 1998 R1000V
14.12 2.37 -12.56 5 1/4/1900 1.69 -43.41 5 3 Yr 8 Yr 11.57 3 12/31/2003 2.88 9.83 0
4.56 0.74 -20.73 15 7.51 1.26 -51.41 15 28.4 17.69 1.61 9 Incept 2.33 6.07 8
2006 9 Yr -26.57 50 -3.34 7 Yr 2000 65 25.7 14.17 1998 25 11 Fiscal Year Returns Ending September 1.83 75
13.06 6.61 -28.89 -17.28 2003 -0.84 46.3 -15.05 110.8 11.9 -1.61 -5.34 14.8 Fund -0.8 0.59
10.79 26 -35.02 15.39 18.73 32 27.14 14.31 4 Yr 9.12 -9.72 14.09 74.5 Return -5.82 8
1/2/1900 4.83 2000 32.67 25.91 -4.37 20.88 29.36 1/28/1900 5.94 -16.12 19.43 Returns in Down Markets %-tile 7.41
2005 49 16.14 0.25 -7.18 83 14.34 1.16 28 Fiscal Year Returns Ending September -20.15 4.55 Fund R1000V 12.1
14.04 8.75 30 11.49 2002   4.13 8.45 11.64 102.1 Fund -27.66 13.27 R1000V Return 6.66
1/12/1900 6.63 13.28 Standard Deviation 1 ############################################### 0.19 1999 1 3/31/2003 Return   1 Ratio %-tile 1
1/1/1900 4.78 46 0 -22.51 -2.44 38.21 0 Incept %-tile 0 1 Yr 2 Yr 3 Yr Universe 0
2004 4.43 27.56 1 5.01 -3.44 31.55 1 30.9 FR2000   1 12/31/2003 5th %-tile 1
13.63 3.29 17 0.7 2001 -5.66 27.96 0.57 33.5 Return 0.74 Incept 25th %-tile 1.86
13.87 10 Yr 13.02 8.04 -30.55 8 Yr 26.33 6.61 92.1 %-tile 9.77 50th %-tile #VALUE! 12.37 QU. FUND #REF!
-0.24 8.44 9.15 0 -45.64 6.26 20.01 0 Returns in Down Markets Universe 0 75th %-tile 0 UNIVERSE
2003 23 1.34 Diff 15.09 1.56 1998 Diff Fund 5th %-tile Diff 95th %-tile #VALUE! Diff POLICY #REF!
20.49 7.15 1999 1 2000 1999 1998 0.49 16.52 1 FR2000 25th %-tile 1 Qtr 1
24.4 45 30.59 -1 Returns in Up Markets -0.16 9.1 -1 Ratio 50th %-tile #VALUE! -1 5.58 0.0558 -1
-3.91 10.29 19 0 Fund -2.33 7.45 -30 2 Yr 75th %-tile 50 86 -50
2002 8.22 26.68 2.52 R1000G Fiscal Year Returns Ending September 2.95 0.22 -2.8 95th %-tile #VALUE! 1.96 4.92 0.0492 -1.21
-7.86 6.98 41 -2.47 Ratio Fund -4.96 -3.43 -5 Qtr 0.08 96 -1.23
-20.49 6.53 36.18   -4.99 3 Yr Return -3.65 55.4 QU. FUND 6.88 0.0688   -1.88 8.47 -0.02
12.63 4.32 28.77 -0.39 1/16/1900 %-tile -3.27 3 Yr UNIVERSE 39 2.67 7.15 -5.44
2001 Fiscal Year Returns Ending September 24.51   -0.62 18.7 R1000G -0.87 -7.6 POLICY 4.42 0.0442   -2.39 6.4 -0.23
-31.06 Fund 16.71 -0.09 86.3 Return -0.1 -12.7 82 -0.22 6.15 -0.21
-26.62 Return 9.03 2.41 5 Yr %-tile -1.6 59.8 9.7 6.37 4.98 -0.27
-4.44 %-tile 1998 -0.08 1/17/1900 Universe -0.06 4 Yr 7.81 -0.08 YTD -0.32
2000 S&P 500 6.61 0.19 22.2 5th %-tile -0.21 -7.6 6.05 0.53 13.84 -0.56
16.14 Return 31 2.54 80.7 25th %-tile -2.27 -12.7 4.79 7.96 85 -1.79
13.28 %-tile 10.1 3.31 7 Yr 50th %-tile #VALUE! 2.95 59.8 2.95 4.23 14.73 3.91
1/2/1900 Universe 13 10 Yr 1/19/1900 75th %-tile 7 Yr 3/31/2003 YTD 4 Yr 48 3 Yr Incept
1999 5th %-tile 15.53 # of Negative Qtrs 25.8 95th %-tile #VALUE! # of Negative Qtrs Incept 24.18 # of Negative Qtrs 20.53 # of Negative Qtrs
30.59 25th %-tile 7.46 # of Positive Qtrs 75.3 Qtr # of Positive Qtrs -7.6 8 # of Positive Qtrs 16.73 # of Positive Qtrs
26.68 50th %-tile 3.17   Batting Average 3/31/2000 5.84 0.0584 Batting Average -12.7 15.93 Batting Average 14.42 Batting Average 2002 FUND #REF!
3.91 75th %-tile -0.89 Worst Qtr Incept 90 Worst Qtr 59.8 77 Worst Qtr 13.99 Worst Qtr UNIVERSE
1998 95th %-tile -8.95   Best Qtr 19.4 6.86 0.0686 Best Qtr 25.04 Best Qtr 13.18 Best Qtr POLICY #REF!
6.61 Qtr 27.93 Range 25.8 36 Range 20.35 Range 2006 Range
10.1 9.72 0.0972 Worst 4 Qtrs 3/15/1900 7.63 Worst 4 Qtrs 18.27 Worst 4 Qtrs 11.63 Worst 4 Qtrs
-3.49 1 Standard Deviation Returns in Down Markets 7.09 Standard Deviation 16.13 Standard Deviation 46 Standard Deviation
Returns in Up Markets 6.28 0.0628 Beta Fund 6.38 Beta 11.62 Beta 14.62 Beta
Fund 50 Annualized Alpha R1000G 6.03 Annualized Alpha 2006 Annualized Alpha 9 Annualized Alpha
S&P 500 8.9   R-Squared Ratio 5.79 R-Squared 2002 FUND 9.79   R-Squared 15.53 R-Squared
Ratio 6.96 Sharpe Ratio 3 Yr YTD Sharpe Ratio UNIVERSE 30 Sharpe Ratio 13.04 Sharpe Ratio
3 Yr 6.27   Treynor Ratio -11.4 11.71 Treynor Ratio POLICY 9.92   Treynor Ratio 11.24 Treynor Ratio 2001 FUND #REF!
21.7 6 Tracking Error -12.6 100 Tracking Error 29 Tracking Error 10.32 Tracking Error UNIVERSE
18.7 4.66   Information Ratio 90.3 14.53 Information Ratio 14.58 Information Ratio 7.31 Information Ratio POLICY #REF!
116.1 YTD Fund 5 Yr 15 Fund 10.38 Fund 2005 Fund
5 Yr 18.68 14 -21.3 15.63 10 7.72 4 11.29 2
23.2 6 26 -21.9 14.06 18 4.83 12 73 10  
23.3 14.12 52.5 97.4 12.8 46.43 2.19 62.5 16.69 25 Batting Average
99.8 50 -15.47 7 Yr 12.46 -14.83 2005 -3.38 23 -1.13
10 Yr 18.94   22.14 -25.6 12.22 10.88 2001 FUND 20.95   14.26 24.1 9.38
29.3 15.41 37.61 -37.4 2006 25.71 UNIVERSE 35 17.64 16.12 10.51
28.2 14.1   -31.06 68.4 3.97 -30.55 POLICY 17.95   7.22 12.74 4.62 2000 FUND #REF!
104 13.61 14.87 3/31/2000 78 13.03 63 10.34 11.06 6.74  N/A Standard Deviation
9/30/1992 10.47   0.96 Incept 6.03 0.67 26.4 0.74 7.98 0.82   #REF! Beta
Incept 2006 1.55   -23.8 59 1.93 0.0193 21.72 6.29 0.0629 2004 -0.96 -0.0096 Annualized Alpha #REF!
26.7 13.06 0.92 -35.5 12.28 0.86 19.25 0.88 23.92 0.72 R-Squared
25.9 9 0.32 3/7/1900 10.11 -0.3 16.53 1.67 18.34 1.21
103.2 10.79 4.98 6.63 -5.82 11.14 23.35 14.42 9.93
Returns in Down Markets 29 4.26 4.5 7.57 2004 4.98 13.02 3.76
Fund 13.68   0.3 0.01 0.47 2000 FUND 21.5   0.43 8.08 -1.09
S&P 500 10.94 S&P 500 2005 R1000G UNIVERSE 31 FR2000 2003 R1000V Policy
Ratio 10.25   13 12.44 11 POLICY 18.78   3 27.67 0 1999 FUND #REF!
3 Yr 7.48 27 65 17 54 13 23.98 12  N/A
-3.6 2.85   47.5 11.6 53.57 28.92 37.5 21.95 75   #REF!
-5.4 2005 -17.28 71 -21.35 22.49 -5.34 19.27 0.09
67.2 14.04 21.13 25.06 15.14 19.1 14.52 15.84 10.38
5 Yr 38 38.41 17.68 36.49 16.07 19.86 2002 10.29
-15 12.25 -26.62 13.67 -45.64 8.02 4.55 -6.38 7.05
-19.9 57 14.89 10.23 17.95 2003 13.12 -15.42 6.97 Standard Deviation
75.8 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 0.23 94 -0.41 25.9 1.15 2001 1.76  N/A
94.7 7.61   3.49 7.51 -7.43 19.17 15.14 5.47 12.25   #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 -1 -1.82 1 -23.01 2
-25.3 13.87 -1 10.02 1 -7.42 -1 -27 -2
95.6 35 5 7.03 -7.14 -12.12 25 2000 -50
19.71 1.81 3.61 6.52 1998 FUND -19.94 1.96 22.25 -1.22
14.67 1.01 2003 -4.26 N/A 2001 -0.26 13.38 -1
13.19   -0.8 18.73 -10.78   9.26   -2.22 8.39 0.22 #REF!
10.23 -4.44 70 15.09   -2.9 2.67 3.08 -2.43
5.93   -0.02 25.91 -4.92 -15.03   -2.78 -3.5 -0.23 #REF!
2003 -0.04 8 -0.33 -25.09 -0.26 1999 -0.18
20.49 1.55 26.39 1.93 -41.08 6.29 28.08 -0.96
73 -0.08 23.7 -0.14 2000 -0.12 20.54 -0.28
24.4 0.09 21.45 0.11 62.14 0.52 15.47 -0.55
25 1.49 17.27 1.61 39.49 8.21 11.7 -2.32
29.75 4.26 11.31 7.57 30.15 4.98 4.46 3.76
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   44 -33.4 18 13 11
-12.56 Batting Average 50.85 -36.39 Batting Average 48.28 58.82 28.57
-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 13.54 12.4 Standard Deviation 13 10.33 6.56
16.14 Beta 0.96 6.57 Beta 0.67 0.68 0.81
30 Annualized Alpha 1.34 0.0134 1999 Annualized Alpha 2.05 0.0205 6.38 0.0638 0.000638 -0.7 -0.007
13.28 R-Squared 0.91 38.73 R-Squared 0.87 0.85 0.72
46 0.61 29.66 -0.31 1.9 1.18
27.56 8.59 25.66 -5.97 28.88 9.53
17 4.18 20.21 7.61 6.01 3.7
13.02 0.22 17.15 0.49 -0.07 -1.02
9.15 Policy S&P 500 Policy R1000G FR2000 R1000V
1.34 14 12 3 0
1999 45 17 14 14
30.59 49.15 51.72 41.18 71.43
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 13.43 Standard Deviation 18.04 14 6.89
24.51 1 1 1 1
16.71 0 0 0 0
9.03 1 1 1 1
0.54 -0.43 1.43 1.67
7.31 -7.74 20.04 11.49
0 0 0 0
Diff Diff Diff Diff
1 -1 1 3
-1 1 -1 -3
1.7 -3.44 17.64 -42.86
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
0.11 -5.04 -3.67 -0.33
-0.04 -0.33 -0.32 -0.19
1.34 2.05 6.38 -0.7
-0.09 -0.13 -0.15 -0.28
0.07 0.12 0.47 -0.49
1.28 1.77 8.84 -1.96
4.18 7.61 6.01 3.7
-0.09
0.02
0.64
4.32