SUNRISE POLICE SCROLL TO RIGHT------> Small Cap
LOCK DOM. EQ. TOTAL EXECUTIVE HERE LOCK LOCK DOM.EQ. TOTAL UNIVERSE HERE LOCK LOCK DOM. EQ. 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 % Sunrise Police Sunrise Police Sunrise Police Sunrise Police % Sunrise Police Sunrise Police % Sunrise Police Sunrise Police Sunrise Police Sunrise Police
Domestic Equity Domestic Equity Domestic Equity 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 Risk Measures Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures
30 Broad Large Cap Core Equity 32 37 Broad Large Cap Growth Core Equity 41 51 Broad Large Cap Value Core Equity 55 58 Broad Small Cap Value Core 62
Inception date is December 31, 1997 31 3 Yr 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
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 All dollar values are shown in thousands. 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. # 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 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 December 31, 1997 to March 31, 2004 Batting Average Returns are gross of fees. Incept is December 31, 1997 to December 31, 2004 Batting Average Returns are gross of fees. Incept is December 31, 2002 to December 31, 2004 Batting Average Returns are gross of fees. Incept is March 31, 2004 to December 31, 2004 Batting Average
Account Reconciliation Trailing Returns through March 31, 2004 Worst Qtr Account Reconciliation Trailing Returns through December 31, 2004 Worst Qtr Account Reconciliation Trailing Returns through December 31, 2004 Worst Qtr Account Reconciliation Trailing Returns through December 31, 2004 Worst Qtr
Beginning Value Fund Best Qtr Beginning Value Fund Best Qtr Beginning Value Fund Best Qtr Beginning Value Fund Best Qtr
Net Flows Return Range Net Flows Return Range Net Flows Return Range Net Flows Return Range
Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs
Ending Value S&P500 Standard Deviation Ending Value S&P500 Standard Deviation Ending Value S&P500 Standard Deviation Ending Value R2000V Standard Deviation
3/31/2004 Return Beta 12/31/2004 Return Beta 12/31/2004 Return Beta 12/31/2004 Return Beta
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
19,769 Universe R-Squared 10,630 Universe R-Squared 11,800 Universe R-Squared 3,297 Universe R-Squared
4,333 5th %-tile Sharpe Ratio 127 5th %-tile Sharpe Ratio 537 5th %-tile Sharpe Ratio -9 5th %-tile Sharpe Ratio
390 25th %-tile Treynor Ratio 1,155 25th %-tile Treynor Ratio 1,095 25th %-tile Treynor Ratio 419 25th %-tile Treynor Ratio
24,492 50th %-tile Tracking Error 11,913 50th %-tile Tracking Error 13,433 50th %-tile Tracking Error 3,707 50th %-tile Tracking Error
2004 75th %-tile Information Ratio 2004 75th %-tile Information Ratio 2004 75th %-tile Information Ratio 2004 75th %-tile Information Ratio
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund
19,769   2 Qtrs   4 10,474 2 Qtrs 5 10,084   2 Qtrs   2 0 2 Qtrs 1
4,333   14.53 8 777 5.44 7 2,033   7.99 2 3,137 9.13 2
390   33   58.33 661 44 41.67 1,316   44   50 571 81 Batting Average 33.33
24,492 14.08 -17.77 11,913 7.19 -15.29 13,433 7.19 -0.95 3,707 13.37 -3.21
12/31/1997 40 14.61 12/31/1997 23 11.55 12/31/2002 57 9.02 3/31/2004 21 12.75
Incept 19.01 32.38 Incept 9.61 26.84 Incept 13.74 9.97 Incept 16.25 15.96
  10,999 15.19 -25.33 10,999 7.02 -23.77   6,658 9.46 11.3 2,986 12.95 Standard Deviation 14.98
8,274 13.84 20.64 -4,815 4.93 16.7 3,027 7.39 7.08 151 11.49 Beta 0.81
5,218     12.4 0.99 5,728     3.36 0.88 3,748     6.89 0.94   571 9.5 Annualized Alpha 8.55
24,492  24,492,000 9.7 0.67 11,913  11,913,000 0.92 -2.03 13,433  13,433,000 3.89 1.06 0.0106 3,707   3,707,000 6.55 R-Squared 0.61
Investment Policy 3 Qtrs 1 Investment Policy 3 Qtrs 0.96 Investment Policy 3 Qtrs 0.86 Investment Policy 3 Qtrs 1.15
Index 18.62 -0.03 Index 6.8 -0.01 Index 7.25 1.42 Index 18.24 21.27
S&P 500 24 -0.6 S&P 500 43 -0.15 S&P 500 84 10.7 Russell 2000 Value 4 9.78
Total 17.09 1.29 Total 9.03 4.01 Total 9.03 2.71 Total 14.34 0.4
Weight 40 0.52 Weight 17 -0.59 Weight 46 0.15 Weight 42 Policy R2000V
100 24.7 S&P500 100 11.55 S&P500 100 15.93 S&P500 100 17.81 0
100 18.47 4 100 8.17 4 100 11.03 1 100 15.19 3
Trailing Returns through March 31, 2004 16.8 8 Trailing Returns through December 31, 2004 6.28 8 Trailing Returns through December 31, 2004 8.82 3 Trailing Returns through December 31, 2004 13.67 66.67
Fund 15.49 41.67 Fund 4.29 58.33 Fund 8.08 50 Fund 11.17 0.15
S&P500 11.19 -17.28 S&P500 1.53 -17.28 S&P500 4.49 -1.87 R2000V 6.61 13.21
Diff   1 Yr   15.39 Diff   1 Yr   15.39 Diff   1 Yr   9.23 Diff 1 Yr 13.06
1 Yr 1 Yr FUND 35.96 0.3596 32.67 1 Yr 1 Yr FUND 6.06 0.0606 32.67 1 Yr 1 Yr FUND 11.3 0.113 11.1 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 26.37 14.42
35.96 UNIVERSE 34 -24.76 1/6/1900 UNIVERSE 66 -24.76 1/11/1900 UNIVERSE 46 10.88 3/31/2004 22.14 1
35.12 POLICY 35.12 0.3512 20.91 10.88 POLICY 10.88 0.1088 18.48 10.88 POLICY 10.88 0.1088 6.99 Incept 20.01 0
0.84 39 1 -4.82 20 1 0.42 50 1 18.24 16.76 1
2 Yr 46.22 0 2 Yr 15.53 0 2 Yr 20.36 0 14.34 10.8 0.92
0.76 37.64 1 1/14/1900 10.23 1 1/22/1900 13.83 1 3.9 2 Yr 13.33
0.83 34.56 -0.06 19.45 7.31 0.12 19.45 10.8 1.38 Calendar Year Returns 36.83 0
-0.07 31.35 -1.26 -5.2 4.74 2.25 3.2 10.08 9.64 Fund 31.65 Diff
3 Yr 25.07 0 3 Yr 1.66 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 5.98 0 R2000V 29.38 1
1/1/1900 2 Yr Diff 1.21 2 Yr Diff 12/31/2002 2 Yr Diff Diff 26.58 -1
   0.63 0.76   0   1/3/1900 14.25   1    Incept 22.65   1   12/31/2004 20.84 -33.34
   1/0/1900 43 0   ################################## 84 -1    1/22/1900 13 -1   Qtr 3 Yr -3.36
  4 Yr 0.83   16.66   4 Yr 19.45   -16.66   19.45 19.45   0   12.75 19.71 -0.46
-4.76 41 -0.49 -3.43 28 1.99 3.2 38 0.92 13.21 15.77 2.9
-5.48 6.66 -0.78 ################################## 26.08 -3.84 Calendar Year Returns 25.47 -0.21 -0.46 13.27 0.56
1/0/1900 2.3 -0.29 -2.91 19.74 -5.83 Fund 20.35 -1.13 2004 10.87 -0.19
5 Yr 0.54 -0.57 5 Yr 17.05 0.99 S&P500 18.99 0.42 YTD 2003 2002 2001 2000 1999 1998 1997 1996 1995 5.73 8.55
-1.83 -0.89 -0.27 -4.01 15.13 -1.78 Diff 18.03 0.09 Returns in Up Markets 4 Yr -0.39
############################## -3.75 -0.01 -2.3 12.72 -0.12 12/31/2004 14.27 -0.06 Fund 19.9 0.23
-0.63 3 Yr 0.67 -1.71 3 Yr -2.03 Qtr 3 Yr 1.06 R2000V 15.47 7.94
6 Yr 3 YR FUND 1.3 0.013 0 6 Yr 3 YR FUND 1.21 0.0121 -0.04 1/9/1900   11.27   -0.14 Ratio 13.3 9.78
1/1/1900 UNIVERSE 31 0.03 1/0/1900 UNIVERSE 39 -0.13 1/9/1900   6.2 0.04 3/31/2004 10.93
1.83 POLICY 0.63 0.0063 0.66 1.25 POLICY 3.59 0.0359 -2.4 -0.21   3.82   1.06 Incept 5.88
-0.67 41 1.29 -0.72 19 4.01 2004   2.96 2.71 18.2 5 Yr
7 Yr 8 Yr 9 Yr 10 Yr 6.89 5 Yr 5 Yr 7 Yr 7.11 5 Yr 5 Yr YTD 0.42 Incept Incept 14.3 21.95
12/31/1997 1.67 # of Negative Qtrs 1/5/1900 2.7 # of Negative Qtrs 1/11/1900 4 Yr # of Negative Qtrs 127.2 16.83
Incept 0.35 # of Positive Qtrs 4.77 0.13 # of Positive Qtrs 10.88 9.19 # of Positive Qtrs Returns in Down Markets 14.24
3.26 -0.93 Batting Average 1/0/1900 -1.84 Batting Average 0.42 3.61 Batting Average Fund 11.69
3.91 -3.92 Worst Qtr 8 Yr 9 Yr 10 Yr -3.53 Worst Qtr 2003 0.21 Worst Qtr R2000V 7.68
############################## 4 Yr Best Qtr 12/31/1997 4 Yr Best Qtr 2/4/1900 -0.98 Best Qtr Ratio 6 Yr
Calendar Year Returns -4.76 Range Incept -3.43 Range 1/28/1900 -3.24 Range 3/31/2004 18.97
Fund 40 Worst 4 Qtrs 1/5/1900 34 Worst 4 Qtrs 6.48 5 Yr Worst 4 Qtrs Incept 14.96
S&P500 -5.48 Standard Deviation 4.77 -0.52 Standard Deviation 2002 2001 2000 1999 1998 1997 1996 1995 11.15 Standard Deviation 12.71
Diff 49 Beta 1/0/1900 12 Beta Returns in Up Markets 4.86 Beta 10.4
3/31/2004 3.81 Annualized Alpha Calendar Year Returns 1.24 Annualized Alpha Fund 0.68 Annualized Alpha 7.69
Qtr -2.09 R-Squared Fund -2.53 R-Squared S&P500 -2.42 R-Squared 7 Yr
2.06 -5.61 Sharpe Ratio S&P500 -5.05 Sharpe Ratio Ratio -3.38 Sharpe Ratio 14.37
1.69 -6.74 Treynor Ratio Diff -6.95 Treynor Ratio 1 Yr 6 Yr Treynor Ratio 11.77
1/0/1900 -10.38 Tracking Error 12/31/2004 -9.23 Tracking Error 1/12/1900 10.26 Tracking Error 9.97
2004 5 Yr Information Ratio Qtr 5 Yr Information Ratio 13 4.83 Information Ratio 8.67
YTD 5 YR FUND -1.83 -0.0183 Fund 1/10/1900 5 YR FUND -4.01 -0.0401 Fund 95.2 2.7   Fund 5.56
2.06 UNIVERSE 69 8 9.23 UNIVERSE 27 Fund 9 12/31/2002   0.95 3 8 Yr
1.69 POLICY -1.2 -0.012   12 1.63 POLICY -2.3 -0.023 11 Incept   -0.38     5 15.38
1/0/1900 51 Batting Average 55 2004 18 45 2/4/1900   7 Yr Batting Average 62.5 13.58
2003 9.66 -17.77 YTD 2.13 Batting Average -16.95 31.1 9.65 -3.96 11.87
1/29/1900 1.38 14.61 6.06 -3.86 11.55 4/23/1900 6.18 17.8 10.72
28.68 -1.18 32.38 1/10/1900 -6.44 28.5 Returns in Down Markets 4.71 21.76 7.71
0.77 -2.09 -25.89 ################################## -8.43 -33.13 Fund 4.02 11.3 Calendar Year Returns
2002 -4.94 Standard Deviation 18.42 2003 -10.8 18.56 S&P500 2.04 Standard Deviation 10.32 Fund
-21.99 6 Yr Beta 0.94   23.08 6 Yr Standard Deviation 0.99 Ratio 8 Yr Beta 1.02   Return
-22.1 1.16 Annualized Alpha -0.72 -0.0072 28.68 0.53 Beta -1.62 -0.0162 1 Yr 11.67 Annualized Alpha 2.4 0.024 %-tile
1/0/1900 67 R-Squared 0.97 -5.6 37 Annualized Alpha 0.92 ################################ 8.98 R-Squared 0.87 R2000V
6/23/1905 1.83 -0.28 2002 1.25 R-Squared -0.37 ################################ 7.69 2.08 Return
-11.7 44 -5.48 -20.58 31 -6.87 50.8 6.64 21.07 QU. FUND %-tile
-11.88 7.64 3.6 -22.1 8.41 5.2 12/31/2002 4.53 3.7 UNIVERSE Universe
1/0/1900 2.97 -0.17 1.52 2.28 -0.33 Incept Calendar Year Returns 0.86 POLICY 5th %-tile
2000 1.62 Policy S&P500 2001 -0.75 S&P500 -4.9 Fund Policy S&P500 25th %-tile
-5.58 0.67 9 -16.13 -2.38 Policy 9 -5 Return 2 50th %-tile
-9.11 -2.03 11 -11.88 -4.51 11 98.2 %-tile 6 75th %-tile
3.53 7 Yr 45 -4.25 7 Yr 55 S&P500 37.5 95th %-tile
1999 11.91 -17.28 2000 5.44 -17.28 Return -3.15 Qtr
8.77 8.12 15.39 -6.27 26 15.39 %-tile   15.39 12.75 0.1275
1/21/1900 7.04 32.67 -9.11 4.77 32.67 Universe 18.54 36
-12.27 5.65 -26.62 2.84 34 -26.62 5th %-tile   10.88 13.21 0.1321
1998 2.86 Standard Deviation 19.2 6/21/1905 9.87 18.02 25th %-tile Standard Deviation 9.43 28
30.71 8 Yr 1 26.62 5.47 Standard Deviation 1 QU. FUND 50th %-tile 1 15.13
28.58 11.91 0 21.04 3.49 0 UNIVERSE 75th %-tile 0 13.41
2.13 8.87 1 5.58 1.72 1 POLICY 95th %-tile 1 12.17
1997 1996 1995 8.22 -0.24 1998 -0.25 -0.28 Qtr 1.94 10.65
Returns in Up Markets 6.8 -4.52 40.41 8 Yr -5.09 9.02 0.0902 18.29 9.62
Fund 4.05 0 28.58 12.56 0 54 0 YTD
S&P500 Calendar Year Returns Diff 11.83 7.89 Diff 9.23 0.0923 Diff 26.37
Ratio Fund -1 1997 1996 1995 6.15 0 35 1 22.14
3 Yr Return   1 Returns in Up Markets 4.64   0 11.63   -1 20.01
32.2 %-tile 10 Fund 2.32 -10 9.64 25 16.76
31.2 S&P500   -0.49 S&P500 Calendar Year Returns   0.33 9.1   -0.81 10.8
103 Return -0.78 Ratio Fund -3.84 8.37 2.41 2003
5 Yr %-tile -0.29 3 Yr Return -4.17 6.82 3.22 53.56
31 Universe 0.73 23.4 %-tile -6.51 YTD 0.42 43.94
32.4 5th %-tile -0.78 27.8 S&P500 0.54 11.3 0.89 38.98
95.6 25th %-tile -0.06 3/24/1900 Return -0.01 46 0.02 35.3
6 Yr 50th %-tile   -0.72 5 Yr %-tile   -1.62 10.88   2.4 27.69
32.7 75th %-tile -0.03 27.6 Universe -0.08 50 -0.13 2002
34.9 95th %-tile   -0.04 27.6 5th %-tile   -0.09 20.36   0.14 1.2
93.7 Qtr -0.96 4/8/1900 25th %-tile -1.78 13.83 2.78 -6.32
12/31/1997 QU. FUND 2.06 0.0206 3.6 6 Yr QU. FUND 50th %-tile 5.2 2003 FUND 10.8 3.7 -11.28
Incept UNIVERSE 37 6 Yr 31.1 UNIVERSE 75th %-tile 6 Yr UNIVERSE 10.08 -15.78
34.8 POLICY 1.69 0.0169 # of Negative Qtrs 30.3 POLICY 95th %-tile # of Negative Qtrs POLICY 5.98 -20.15
36.9 50 # of Positive Qtrs 102.4 Qtr # of Positive Qtrs 2003 2001
4/3/1900 4.69 Batting Average 12/31/1997 10.86 0.1086 Batting Average 35.16 0.3516 26.57
Returns in Down Markets 2.55 Worst Qtr Incept 26 Worst Qtr 1 17.56
Fund 1.68 Best Qtr 37.3 9.23 0.0923 Best Qtr 28.68 0.2868 11.75
S&P500 1.24 Range 35.2 70 Range 23 5.92
Ratio -0.36   Worst 4 Qtrs 106 14.01   Worst 4 Qtrs 32.31 -0.83
3 Yr YTD Standard Deviation Returns in Down Markets 10.91 Standard Deviation 28.49 2000
-40.5 2.06   Beta Fund 9.84   Beta 2002 FUND 27.67 34.76
-40.8 37 Annualized Alpha S&P500 8.83 Annualized Alpha UNIVERSE 25.15 23.25
99.2 1.69 R-Squared Ratio 7.52 R-Squared NA 22.17   17.5
5 Yr 50 Sharpe Ratio 3 Yr YTD Sharpe Ratio 2002 11.3
-31 4.69 Treynor Ratio -31.9 6.06 Treynor Ratio -11.31 -0.1131 1.04
-30.9 2.55 Tracking Error -31.9 66 Tracking Error -16.33 1999
100.2 1.68   Information Ratio 4/9/1900 10.88   Information Ratio -19.88 -0.1988 16.81
6 Yr 1.24 Fund 5 Yr 20 Fund -22.33 11.34
-30.8 -0.36   9 -32.2 15.53   10 -25.04 4.25
-31.3 2003 15 -29.5 10.23 14 2001 -1.13
98.5 2003 FUND 29.45 0.2945 54.17 4/18/1900 2003 FUND 7.31 50 2001 FUND 5.61 0.0561 -6.81
12/31/1997 UNIVERSE 27 -17.77 6 Yr UNIVERSE 4.74 -16.95 UNIVERSE -3.21 1998
Incept POLICY 28.68 0.2868 19.75 -30.7 POLICY 1.66 18.83 POLICY -8.64 -0.0864 6.9
-30.8 34 37.52 -28.9 2003 35.78 -12.12 -0.79
-31.3 35.07 -25.89 106.1 23.08 0.2308 -33.13 -14.21   -5.04
4/7/1900 29.63 18.99 12/31/1997 83 18.92 2000 -8.98
27.91   0.93 Incept 28.68 0.2868 1.01   20.68 0.2068 -13.11
25.2 -0.59 -0.0059 -29.9 37 -0.57 -0.0057 9.66   1997
20.9   0.97 -29.4 38.01 0.92 0.81 0.0081 38.7
2002 -0.13 101.8 30.97 -0.14 -9.06 32.43
2002 FUND -21.99 -0.2199 -2.59 2002 FUND 26.77   -2.56 2000 FUND -9.96 27.92
UNIVERSE 44 3.58 UNIVERSE 24.36 5.2 UNIVERSE 1999 23.21
POLICY -22.1 -0.221 -0.19 POLICY 20.43   -0.14 POLICY 22.9 17.47
47 S&P500 2002 S&P500 20.37 1996
-15.02 10 -20.58 -0.2058 10 14.99   35.44
-19.91 14 14 14 3.15 26.68
-22.25   45.83 -22.1 -0.221 50 -5.6   22.12
-23.64 -17.28 19 -17.28 1998 19.15
-26.8   21.3 -15.91 15.39 30.24 12.56
2001 38.58 -23 32.67 28.06
2001 FUND -11.7 -0.117 -26.62 2001 FUND -25.5   -26.62 1999 FUND 19.31
UNIVERSE 46 20.04 UNIVERSE -28.94 18.01 UNIVERSE 11.45
POLICY -11.88 -0.1188 1 POLICY -32.42   1 POLICY 4.41
48 0 2001 0 1997
0.69 1 -16.13 -0.1613 1 38.51  
-8.82 -0.09 31 -0.1 32.94
-12.07   -1.74 -11.88 -0.1188 -1.87 30.77  
-13.76 0 2 0 26.72
-19.6   Diff -12.27 Diff 22.19
2000 -1 -15.3 0 1996
2000 FUND -5.58 -0.0558 1 2000 FUND -19.4   0 28.7
UNIVERSE 45 8.34 UNIVERSE -22.65 0 23.06
POLICY -9.11 -0.0911 -0.49 POLICY -26.27   0.33 21.86
65 -1.55 2000 3.44 19.07
15.56 -1.06 -6.27 -0.0627 3.11 14.29
0.06 0.73 22 -6.51
-6.88   -1.05 -9.11 -0.0911 0.91
-9.62 -0.07 36 0.01
-15.34   -0.59 -0.8 -0.57
1999 -0.03 -7.05 -0.08
1999 FUND 8.77 0.0877 -0.04 1999 FUND -11.72   -0.04
UNIVERSE 89 -0.85 UNIVERSE -16.14 -0.69
POLICY 21.04 0.2104 3.58 POLICY -22.27   5.2
41 Incept 1999 Incept
40.15 # of Negative Qtrs 26.62 0.2662 # of Negative Qtrs
24.24 # of Positive Qtrs 75 # of Positive Qtrs
20.43 Batting Average 21.04 0.2104 Batting Average
15.61 Worst Qtr 93 Worst Qtr
5.6 Best Qtr 56.01 Best Qtr
1998 Range 40.12 Range
1998 FUND 30.71 Worst 4 Qtrs 32.43 Worst 4 Qtrs
UNIVERSE 16 Standard Deviation 26.37 Standard Deviation
POLICY 28.58 Beta 19.99 Beta
25 Annualized Alpha 1998 Annualized Alpha
35.85 R-Squared 40.41 R-Squared
28.5 Sharpe Ratio 18 Sharpe Ratio
25.14 Treynor Ratio 28.58 Treynor Ratio
17.48 Tracking Error 66 Tracking Error
7.55 Information Ratio 49.36 Information Ratio
1997 Fund 37.1 Fund
36.26 9 31.26 11
32.81 16 26.52 17
30.27 56 16.34 57.14
25.81 -17.77 1997 -16.95
15.95 19.75 36.92 21.83
1996 37.52 32.06 38.78
28.82 -25.89 28.41 -33.13
23.34 19.32 23.82 20.1
21.69 0.94 17.55 1
18.67 -0.44 1996 0.8
13.52 0.97 31.41 0.93
-0.02 23.23 0.1
-0.4 20.57 2.05
3.51 17.81 5.28
-0.19 11.91 0.13
S&P500 S&P500
10 11
15 17
44 42.86
-17.28 -17.28
21.3 21.3
38.58 38.58
-26.62 -26.62
20.28 19.43
1 1
0 0
1 1
0.01 0.07
0.27 1.38
0 0
Diff Diff
-1 0
1 0
12 14.28
-0.49 0.33
-1.55 0.53
-1.06 0.2
0.73 -6.51
-0.96 0.67
-0.06 0
-0.44 0.8
-0.03 -0.07
-0.03 0.03
-0.67 0.67
3.51 5.28