SUNRISE POLICE SCROLL TO RIGHT------> Small Cap
LOCK BUCKHEAD TOTAL EXECUTIVE HERE LOCK LOCK BUCKHEAD TOTAL UNIVERSE HERE LOCK LOCK BUCKHEAD TOTAL RISK HERE LOCK LOCK DHJ EQ. TOTAL EXECUTIVE HERE LOCK LOCK DHJ EQ. UNIVERSE HERE LOCK LOCK DHJ TOTAL RISK HERE LOCK LOCK BUCKHEAD EQUITY EXECUTIVE HERE LOCK LOCK  BUCKHEAD EQUITY UNIVERSE HERE LOCK LOCK BUCKHEAD EQUITY RISK HERE LOCK BUCKHEAD EQUITY EXECUTIVE HERE LOCK LOCK  BUCKHEAD EQUITY UNIVERSE HERE LOCK LOCK BUCKHEAD EQUITY RISK HERE LOCK
Sunrise Police Sunrise Police % SDG DID NOT SEND Sunrise Police Sunrise Police Sunrise Police % Sunrise Police Sunrise Police % Sunrise Police Sunrise Police Sunrise Police Sunrise Police
Buckhead Equity (Large Cap Value + Small Cap Value + Cash) Buckhead Equity (Large Cap Value + Small Cap Value + Cash) DHJ Large Cap Growth Equity DHJ Large Cap Growth Equity DHJ Large Cap Growth Equity Buckhead (Large Cap Value Equity + Cash) Buckhead (Large Cap Value Equity + Cash) Buckhead (Large Cap Value Equity + Cash) Buckhead (Small Cap Equity + Cash) Buckhead (Small Cap Equity + Cash) Buckhead (Small Cap Equity + Cash)
Executive Summary Universe Comparisons Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures
Inception date is March 31, 2004 70% Broad LC V Core. 30% Broad SCV Core 37 Broad Large Cap Growth Core Equity 41 51 Broad Large Cap Value Core Equity 55 58 Broad Small Cap Value Core 62
All dollar values are shown in thousands. Returns are in percent. "%-tile" is the percentile ranking within the universe. Inception date is December 31, 1997 39 3 Yr Inception date is December 31, 2002 53 1 Yr Inception date is March 31, 2004 60 Incept 1 Yr
Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. All dollar values are shown in thousands. 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. # of Negative Qtrs All dollar values are shown in thousands. Returns are in percent. "%-tile" is the percentile ranking within the universe. # of Negative Qtrs
Returns are gross of fees. Incept is March 31, 2004 to December 31, 2005 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. # of Positive Qtrs Returns for periods exceeding one year are annualized. Returns for periods exceeding one year are annualized. # of Positive Qtrs
Account Reconciliation Trailing Returns through December 31, 2005 Returns are gross of fees. Incept is December 31, 1997 to December 31, 2005 Batting Average Returns are gross of fees. Incept is December 31, 2002 to December 31, 2005 Batting Average Returns are gross of fees. Incept is March 31, 2004 to December 31, 2005 Batting Average
Beginning Value Fund Account Reconciliation Trailing Returns through December 31, 2005 Worst Qtr Account Reconciliation Trailing Returns through December 31, 2005 Worst Qtr Account Reconciliation Trailing Returns through December 31, 2005 Worst Qtr
Net Flows Return Beginning Value Fund Best Qtr Beginning Value Fund Best Qtr Beginning Value Fund Best Qtr
Investment G/L %-tile Net Flows Return Range Net Flows Return Range Net Flows Return Range
Ending Value Policy Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs
12/31/2005 Return Ending Value S&P500 Standard Deviation Ending Value S&P500 Standard Deviation Ending Value R2000V Standard Deviation
Qtr %-tile 12/31/2005 Return Beta 12/31/2005 Return Beta 12/31/2005 Return Beta
17,522 Universe Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
-34 5th %-tile 12,007 Universe R-Squared 13,801 Universe R-Squared 3,721 Universe R-Squared
465 25th %-tile -84 5th %-tile Sharpe Ratio -21 5th %-tile Sharpe Ratio -14 5th %-tile Sharpe Ratio
17,953 50th %-tile 395 25th %-tile Treynor Ratio 406 25th %-tile Treynor Ratio 59 25th %-tile Treynor Ratio
2,006 75th %-tile 12,317 50th %-tile Tracking Error 14,187 50th %-tile Tracking Error 3,766 50th %-tile Tracking Error
YTD 95th %-tile 2006 75th %-tile Information Ratio 2006 75th %-tile Information Ratio 2006 75th %-tile Information Ratio
17,522 2 Qtrs YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund
-34   3.57   4 12,007 2 Qtrs 4 13,801   2 Qtrs   0 3,721 2 Qtrs 1
465   95 8 -84 6.88 8 -21   3.32 4 -14 4.48 0.0448 3
17,953   5.18   58.33 395 70 41.67 406   91   50 59 79 Batting Average 50
38,077 68 -17.77 12,317 5.77 -4.9 14,187 5.77 0.37 3,766 3.78 0.0378 -2.87
Incept 8.78 14.61 12/31/1997 86 11.55 12/31/2002 42 2.94 3/31/2004 85 2.83
13,788 6.88 32.38 Incept 14.83 16.45 Incept 9.58 2.57 Incept 13.18 5.7
  1,871 5.85 -25.33 10,999 9.49 3.79   6,658 6.82 5.09 2,986 7.32 2.34
2,293 4.82 20.64 -5,030 7.68 10.25 3,093 5.58 6.38 108 6.03 Standard Deviation 12.26
17,953     3.5 0.99 6,347     6.45 0.88 4,436     4.43 0.72   672 4.59 Beta 0.92  
Investment Policy #VALUE! 3 Qtrs 0.67 12,317  12,317,000 4.7 -1.22 14,187  14,187,000 2.62 1.51 0.0151 3,766   3,766,000 1.54 Annualized Alpha -1.89 -0.0189
Index 4.74 1 Investment Policy 3 Qtrs 0.9 Investment Policy 3 Qtrs 0.74 Investment Policy 3 Qtrs R-Squared 0.92
S&P 500 97 -0.03 Index 8.38 0.92 Index 4.57 0.33 Index 5.36 0.0536 -0.05
Russell 2000 Value 7.81 -0.6 S&P 500 79 10.72 S&P 500 91 2.9 Russell 2000 Value 92 -0.72
Total 54 1.29 Total 7.21 3.57 Total 7.21 3.9 Total 9.05 0.0905 3.58
Weight 11.42 0.52 Weight 88 -0.89 Weight 45 0.05 Weight 62 -0.66
70 9.15 S&P500 100 20.71 S&P500 100 12.09 S&P500 100 15.06 Policy R2000V
30 7.95 4 100 13.42 3 100 8.6 1 100 11.59 1
100 6.82 8 Trailing Returns through December 31, 2005 10.87 9 Trailing Returns through December 31, 2005 7 3 Trailing Returns through December 31, 2005 9.65 3
Trailing Returns through December 31, 2005 5.11 41.67 Fund 8.72 58.33 Fund 5.89 50 Fund 8.17 50
Fund 1 Yr -17.28 S&P500 5.88 -3.15 S&P500 3.6 -2.15 R2000V 3.94 -3.98
Policy   4.49   15.39 Diff   1 Yr   15.39 Diff   1 Yr   3.61 Diff 1 Yr 5.08
Diff 1 Yr FUND 80 0.8 32.67 1 Yr 1 Yr FUND 5.33 0.0533 18.54 1 Yr 1 Yr FUND 5.09 0.0509 5.76 1 Yr 2.34 0.0234 9.06
1 Yr UNIVERSE 4.9 -24.76 1/5/1900 UNIVERSE 66 4.91 1/5/1900 UNIVERSE 56 4.91 1/2/1900 89 4.71
4.49 POLICY 74 0.74 20.91 4.91 POLICY 4.91 0.0491 11.08 4.91 POLICY 4.91 0.0491 7.58 4.71 4.71 0.0471 12.85
4.9 11.16 1 0.42 70 1 0.18 59 1 -2.37 78 1
-0.41 7.81 0 2 Yr 15.78 0 2 Yr 12.72 0 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 14.94 0
2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 6.21 1 1/5/1900 10.53 1 1/8/1900 7.47 1 3/31/2004 9.19 1
3/31/2004 4.8 -0.06 7.85 6.99 1.14 7.85 5.42 0.25 Incept 7.35 0.13
Incept 2.76 -1.26 -2.16 4.43 12.62 0.3 4.28 1.91 11.79 5.22 1.71
8.11 2 Yr 0 3 Yr 1.85 0 3 Yr 1.54 0 10.83 -0.04 0
1/8/1900 14.4 Diff 11.2 2 Yr Diff 1/16/1900 2 Yr Diff 0.96 2 Yr Diff
   -0.79 11.48   0   1/14/1900 5.69   1    1/14/1900 2 Yr FUND 8.15 0.0815 -1   Fiscal Year Returns Ending September 18.45 0
   Fiscal Year Returns Ending September 9.99 0   ################################## 74 -1    2.10 UNIVERSE 53 1   Fund 15.25 0
  Fund 8.71   16.66   4 Yr 7.85   -16.66   4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr POLICY 7.85 0.0785 0   R2000V 13.49 0
Policy 7.01 -0.49 2.22 48 -1.75 12/31/2002 58 2.52 Diff 11.38 1.11
Diff 3 Yr -0.78 1/3/1900 15.84 -3.84 Incept 15.06 -0.67 12/31/2005 7.57 -2.25
12/31/2005 21.02 -0.29 -1.7 11.11 -2.09 16.49   10.44 -3.19 Qtr 3 Yr -3.36
Qtr 18.29 -0.57 5 Yr 7.73 -1.12 14.39 8.32 0.18 1.6 29.19 -2.37
2.66 16.87 -0.27 -1.74 5.52 -0.83 2.1 7.16 -1.2 0.66 23.81 -0.59
1/1/1900 15.71 -0.01 0.54 2.74 -0.12 Fiscal Year Returns Ending September 4.53 -0.28 0.94 22.08 -0.08
1 14.12 0.67 -2.28 3 Yr -1.22 Fund 3 Yr 1.51 2006 20.62 -1.89
6/28/1905 3 YR FUND 4 Yr ####### 0 6 Yr 3 YR FUND 11.2 0.112 -0.1 S&P500   16.49 0.1649 -0.26 YTD 17.79 -0.08
YTD UNIVERSE 11.11 0.03 ################################## UNIVERSE 89 -0.22 Diff   24 0.08 1/1/1900 4 Yr -0.18
2.66 POLICY 8.51 0.0851 0.66 -1.13 POLICY 14.39 0.1439 -1.9 12/31/2005   14.39 0.1439 0.99 0.66 19.39 -2.43
1.66 7.01 1.29 -1.38 51 3.57 Qtr   48 3.9 0.94 14.17 3.58
1/1/1900 5.81 5 Yr 5 Yr 7 Yr 20.98 5 Yr 5 Yr 1/2/1900 20.45 2 Yr 2005 12.07 Incept
6/27/1905 4.34 # of Negative Qtrs 1/1/1900 16.83 # of Negative Qtrs 1/2/1900 16.36 # of Negative Qtrs 14.06 10.4 # of Negative Qtrs
11.87 5 Yr # of Positive Qtrs 1.77 14.4 # of Positive Qtrs 0.85 14.23 # of Positive Qtrs 17.75 7.09 # of Positive Qtrs
13.96 9.97 Batting Average ################################## 12.28 Batting Average 2006 13.36 Batting Average -3.69 5 Yr Batting Average
-2.09 6.67 Worst Qtr 8 Yr 10.33 Worst Qtr YTD 10.62 Worst Qtr 2004 2003 2002 2001 2000 1999 1998 1997 20.62 Worst Qtr
2004 2003 2002 2001 2000 1999 1998 1997 5.09 Best Qtr 1/5/1900 4 Yr Best Qtr 1/2/1900 4 Yr Best Qtr Returns in Up Markets 14.64 Best Qtr
Returns in Up Markets 3.68 Range 1/4/1900 2.22 Range 1/2/1900 10.56 Range Fund 11.88 Range
Fund 2.03 Worst 4 Qtrs 1/0/1900 51 Worst 4 Qtrs 0.85 6.47 Worst 4 Qtrs R2000V 9.89 Worst 4 Qtrs
Policy 6 Yr Standard Deviation 9 Yr 10 Yr 3.92 Standard Deviation 2005 4.52 Standard Deviation Ratio 5.39 Standard Deviation
Ratio 11.33 Beta 12/31/1997 35 Beta 11.29 3.39 Beta 1 Yr 6 Yr Beta
1 Yr 7.53 Annualized Alpha Incept 9.59 Annualized Alpha 1/12/1900 1.52 Annualized Alpha 5.4 20.61 Annualized Alpha
4.7 5.22 R-Squared 5.43 4.94 R-Squared -0.96 5 Yr R-Squared 9 15.61 R-Squared
7.8 3.32 Sharpe Ratio 4.79 2.23 Sharpe Ratio 2004 8.91 Sharpe Ratio 59.2 13.08 Sharpe Ratio
60.7 1.41 Treynor Ratio 1/0/1900 0.59 Treynor Ratio 1/17/1900 3.79 Treynor Ratio 3/31/2004 10.38 Treynor Ratio
3/31/2004 7 Yr Tracking Error Fiscal Year Returns Ending September -1.39 Tracking Error 1/13/1900 1.76 Tracking Error Incept 6.09 Tracking Error
Incept 10.71 Information Ratio Fund 5 Yr Information Ratio 3.49 0.24 Information Ratio 16.1 7 Yr Information Ratio
13.1 5 YR FUND 7.61 0.0761 Fund S&P500 5 YR FUND -1.74 -0.0174 Fund Fund 2003 2002 2001 2000 1999 1998 1997 -1.17   Fund 15.8 20.17 Fund
16.3 UNIVERSE 6.06 8 Diff UNIVERSE 43 8 Returns in Up Markets   6 Yr 2 101.8 14.12 2
80.2 POLICY 4.78 0.0478   12 12/31/2005 POLICY 0.54 0.0054 12 Fund   10.75   6 Returns in Down Markets 12.11 5
Returns in Down Markets 3.28 Batting Average 55 Qtr 25 Batting Average 40 S&P500   5 50 Fund 10.08 57.14
Fund 8 Yr -17.77 3.37 6.75 -16.95 Ratio 1.81 -0.95 R2000V 7.45 -3.21
Policy 10.09 14.61 2.09 0.42 11.55 1 Yr -1.11 9.02 Ratio 8 Yr 13.24
Ratio 7.7 32.38 1/1/1900 -2.31 28.5 4.6 -2.51 9.97 1 Yr 16.89 16.45
1 Yr 6.59 -25.89 6/28/1905 -4.55 -23.77 1/7/1900 7 Yr 5.09 -2.9 11.92 2.34
-0.2 5.62 Standard Deviation 18.42 YTD -6.77 Standard Deviation 17.57 63.4 10.08 6.79 -4 9.54 13.88
-2.7 4.47 Beta 0.94   3.37 6 Yr Beta 0.97 2 Yr 5.19 0.82   72.1 7.86 0.88
8.5 Fiscal Year Returns Ending September Annualized Alpha -0.72 -0.0072 2.09 -2.51 Annualized Alpha -2.21 -0.0221 1/11/1900 3.16 1.63 0.0163 3/31/2004 6.23 2.26 0.0226
3/31/2004 Fund R-Squared 0.97 1.28 37 R-Squared 0.95 1/13/1900 1.61 0.79 Incept Fiscal Year Returns Ending September 0.75
Incept Return -0.28 2005 -1.13 -0.22 3/23/1900 0.21 0.89 -2.9 Fund 0.68
-1.7 %-tile -5.48 12.97 28 -4.07 12/31/2002 8 Yr 7.35 -4 Return 10.8
-3.9 Policy 3.6 12.25 8.74 3.94 Incept 9.83 3.36 72.1 %-tile 7.1
2/12/1900 Return -0.17 0.72 -0.82 -0.58 1/25/1900 6.3 0.09 R2000V 0.14
2000 %-tile Policy S&P500 2004 -3.76 Policy S&P500 23.6 4.91 S&P500 Return R2000V
-5.58 Universe 9 4.45 -6.13 7 106.3 4.11 2 %-tile 1
-9.11 5th %-tile 11 13.87 -8.47 13 Returns in Down Markets 2.49 6 Universe 6
3.53 25th %-tile 45 -9.42 7 Yr 60 Fund Fiscal Year Returns Ending September 50 5th %-tile 42.86
1999 50th %-tile -17.28 2003 1.2 -17.28 S&P500 Fund -2.15 25th %-tile -3.98
8.77 75th %-tile 15.39 20.02 49 15.39 Ratio Return   9.23 50th %-tile 13.21
1/21/1900 95th %-tile 32.67 24.4 1.77 32.67 1 Yr %-tile 11.38 75th %-tile 17.19
-12.27 Qtr -26.62 -4.38 43 -24.76 0.5 S&P500   4.91 95th %-tile 4.71
1998 2.66 Standard Deviation 19.2 6/24/1905 10.2 Standard Deviation 17.71 -2.1 Return 7.34 Qtr 13.68
30.71 14 1 -17.69 3.88 1 -22.8 %-tile 1 QU. FUND 1.6 0.016 1
28.58 1.66 0 -20.49 1.09 0 2 Yr Universe 0 UNIVERSE 39 0
2.13 54 1 2.8 -0.8 1 -0.5 5th %-tile 1 POLICY 0.66 0.0066 1
1997 1996 1995 3.23 -0.24 2001 -3.31 -0.09 ################################ 25th %-tile 0.78 64 0.62
Returns in Up Markets 2.26 -4.52 -33.13 8 Yr -1.67 11.6 QU. FUND 50th %-tile 5.73 4.31 8.54
Fund 1.73 0 -26.62 5.43 0 12/31/2002 UNIVERSE 75th %-tile 0 2.15 0
S&P500 1.19 Diff -6.51 35 Diff Incept POLICY 95th %-tile Diff 1.33 Diff
Ratio 0.35 -1 2000 4.79 1 -4.4 Qtr 0 0.33 1
3 Yr YTD   1 26.61 43   -1 -7 2.94 0.0294 0 -0.9 -1
32.2 2.66 10 13.28 9.74 -20 62.9 16 0 YTD 14.28
31.2 14   -0.49 13.33 6.27   0.33 2.09 0.0209 1.2 1.6 0.77
103 1.66 -0.78 1999 4.15 -3.84 39 -0.21 39 0.03
5 Yr 54 -0.29 1/29/1900 2.71 -4.17 3.97 -1.41 0.66 -0.74
31 3.23 0.73 27.81 0.42 0.99 2.45 0.18 64 -2.37
32.4 2.26 -0.78 2.01 Fiscal Year Returns Ending September -0.14 1.95 -0.55 4.31 0.2
95.6 1.73 -0.06 1998 1997 Fund -0.03 1.3 -0.18 2.15 -0.12
6 Yr 1.19   -0.72 Returns in Up Markets Return   -2.21 0   1.63 1.33 2.26
32.7 0.35 -0.03 Fund %-tile -0.05 YTD -0.21 0.33 -0.25
34.9 2005   -0.04 S&P500 S&P500   -0.13 2.94   0.11 -0.9 0.06
93.7 11.87 -0.96 Ratio Return -2.4 16 1.62 2005 2.26
12/31/1997 QU. FUND 91 0.91 3.6 3 Yr %-tile 3.94 2.09 3.36 14.06 7.1
Incept UNIVERSE 13.96 6 Yr 20.5 Universe 7 Yr 39 Incept Incept 88
34.8 POLICY 66 0.66 # of Negative Qtrs 23.6 5th %-tile # of Negative Qtrs 3.97 # of Negative Qtrs 17.75
36.9 22.41 # of Positive Qtrs 86.9 25th %-tile # of Positive Qtrs 2.45 # of Positive Qtrs 71
4/3/1900 17.21 Batting Average 5 Yr QU. FUND 50th %-tile Batting Average 2004 FUND 1.95 0.0195 Batting Average 24.63
Returns in Down Markets 14.97 Worst Qtr 22.9 UNIVERSE 75th %-tile Worst Qtr UNIVERSE 1.3 Worst Qtr 21.81
Fund 13.26 Best Qtr 24.7 POLICY 95th %-tile Best Qtr POLICY 0 0 Best Qtr 20.3
S&P500 11.01 Range 92.7 Qtr Range 2005 Range 16.98
Ratio 2004   Worst 4 Qtrs 7 Yr 3.37 0.0337 Worst 4 Qtrs 11.29 Worst 4 Qtrs 11.37
3 Yr 23.62 Standard Deviation 27.3 41 Standard Deviation 73 Standard Deviation 2004
-40.5 19.76   Beta 1/26/1900 2.09 0.0209 Beta 12.25 Beta 33.25
-40.8 17.24 Annualized Alpha 103.4 79 Annualized Alpha 57 Annualized Alpha 24.88
99.2 15.21 R-Squared 12/31/1997 6.62 R-Squared 24.1   R-Squared 22.79
5 Yr 12.19 Sharpe Ratio Incept 4.13 Sharpe Ratio 16.12 Sharpe Ratio 19.56
-31 2003 Treynor Ratio 33.1 3.19 Treynor Ratio 2003 FUND 12.74 0.1274 Treynor Ratio 13.41
-30.9 27.84 Tracking Error 31.1 2.25 Tracking Error UNIVERSE 11.06 Tracking Error 2003
100.2 25.03   Information Ratio 4/15/1900 1.16   Information Ratio POLICY 7.98 0.0798 Information Ratio 36.11
6 Yr 23.22 Fund Returns in Down Markets YTD Fund 2004 Fund 29.71
-30.8 20.96   9 Fund 3.37   11 17.36 3 26.15
-31.3 18.02 15 S&P500 41 17 30   9 22.71
98.5 2003 FUND 2002 20.02 54.17 Ratio 2.09 50 13.87   Batting Average 58.33 14.77
12/31/1997 UNIVERSE -5.31 -17.77 3 Yr 79 -16.95 57 -3.96 2002
Incept POLICY -10.93 -0.1093 19.75 -9.6 6.62 18.83 23.92   17.8 9.49
-30.8 -13.63 37.52 -7 4.13 35.78 18.34 21.76 2.65
-31.3 -15.7 -25.89 136.9 2004 FUND 3.19 0.0319 -33.13 2002 FUND 14.42   5.09 -2.41
4/7/1900 -18.62 18.99 5 Yr UNIVERSE 2.25 17.62 UNIVERSE 13.02 Standard Deviation 9.45 -6.84
2001   0.93 -35.2 POLICY 1.16 0.0116 1.01   NA 8.08   Beta 0.96 -14.06
4.41 -0.59 -0.0059 -32.6 2005 -0.44 -0.0044 2003 Annualized Alpha 2.48 0.0248 2001
-3.06   0.97 107.9 12.97 0.92 27.67   R-Squared 0.84 14.31
-8.63 -0.13 7 Yr 57 -0.11 23.98 1.56 8.77
2002 FUND -15.13 -0.1513 -2.59 -29 12.25   -1.88 21.95 15.33 3.66
UNIVERSE -20.75 3.58 ################################## 64 4.85 19.27 3.79 -5.01
POLICY 2000 20 -0.19 106.7 25.77   -0.12 15.84 0.55 -19.22
22.04 S&P500 12/31/1997 18.07 S&P500 2002 Policy S&P500 2000
15.71 10 Incept 2003 FUND 13.56 0.1356 11   -6.38   3 37.32
11.94 14 -28.5 UNIVERSE 11.02 17   -15.42 9 26.91
7.53   45.83 -27.8 POLICY 7.76 0.0776 50   -18.95   41.67 19.81
2.05 -17.28 102.4 2004 -17.28 -20.72 -3.15 14.46
1999   21.3 4.45 15.39 -24.03 15.39 -0.83
23.94 38.58 89 32.67 2001 18.54 1999
2001 FUND 18.65 0.1865 -26.62 13.87   -26.62   5.47 4.91 25.16
UNIVERSE 14.96 20.04 10 16.76   -5.14 Standard Deviation 9.04 19.69
POLICY 11.42 0.1142 1 15.25   1   -13.19 1 10.99
6.56 0 11.67 0 -23.01 0 7.81
1998 1 2002 FUND 8.28 0.0828 1 -27   1 2.47
2.88 -0.09 UNIVERSE 6.32 -0.08 2000 1.4 1998
-0.47   -1.74 POLICY 2.06 0.0206 -1.33 22.25   12.62 -4.72
-3.2 0 2003 0 13.38 0 -11.02
-5.81   Diff 20.02 Diff 8.39 Diff -15.76
-9.68 -1 54 0 3.08 0 -19.37
2000 FUND -5.58 -0.0558 1 24.4   0 -3.5 0 -28.19
UNIVERSE 45 8.34 23 0 1999 16.66
POLICY -9.11 -0.0911 -0.49 30.61   0.33 28.08 -0.81
65 -1.55 23.77 3.44 20.54 2.41
15.56 -1.06 2001 FUND 20.39 0.2039 3.11 15.47 3.22
0.06 0.73 UNIVERSE 18.37 -6.51 11.7 0.18
-6.88   -1.05 POLICY 14.19 0.1419 0.86 4.46 0.41
-9.62 -0.07 2002 0.01 1998 -0.04
-15.34   -0.59 -17.69 -0.44 9.83 2.48
1999 -0.03 18 -0.08 6.07 -0.16
1999 FUND 8.77 0.0877 -0.04 -20.49   -0.03 1.83 0.16
UNIVERSE 89 -0.85 40 -0.55 -0.8 2.71
POLICY 21.04 0.2104 3.58 -12.11   4.85 -5.82 3.79
41 Incept -19.07 Incept
40.15 # of Negative Qtrs 2000 FUND -21.45 -0.2145 # of Negative Qtrs
24.24 # of Positive Qtrs UNIVERSE -23.71 # of Positive Qtrs
20.43 Batting Average POLICY -29.04 -0.2904 Batting Average
15.61 Worst Qtr 2001 Worst Qtr
5.6 Best Qtr -33.13 Best Qtr
1998 Range 14 Range
1998 FUND 30.71 Worst 4 Qtrs -26.62 Worst 4 Qtrs
UNIVERSE 16 Standard Deviation 2 Standard Deviation
POLICY 28.58 Beta -29.08 Beta
25 Annualized Alpha -35.09 Annualized Alpha
35.85 R-Squared -38.5 R-Squared
28.5 Sharpe Ratio -43.41 Sharpe Ratio
25.14 Treynor Ratio -51.41 Treynor Ratio
17.48 Tracking Error 2000 Tracking Error
7.55 Information Ratio 26.61 Information Ratio
1997 Fund 28 Fund
36.26 9 13.28 12
32.81 16 82 20
30.27 56 46.3 56.25
25.81 -17.77 27.14 -16.95
15.95 19.75 20.88 21.83
1996 37.52 14.34 38.78
28.82 -25.89 8.45 -33.13
23.34 19.32 1999 18.89
21.69 0.94 29.82 1
18.67 -0.44 36 0.75
13.52 0.97 27.81 0.93
-0.02 54 0.11
-0.4 38.21 2.09
3.51 31.55 4.97
-0.19 27.96 0.13
S&P500 26.33 S&P500
10 20.01 12
15 1998 20
44 16.52 43.75
-17.28 9.1 -17.28
21.3 7.45 21.3
38.58 2.95 38.58
-26.62 -4.96 -26.62
20.28 18.24
1 1
0 0
1 1
0.01 0.08
0.27 1.45
0 0
Diff Diff
-1 0
1 0
12 12.5
-0.49 0.33
-1.55 0.53
-1.06 0.2
0.73 -6.51
-0.96 0.65
-0.06 0
-0.44 0.75
-0.03 -0.07
-0.03 0.03
-0.67 0.64
3.51 4.97