SUNRISE POLICE
LOCK TOTAL FUND EXECUTIVE HERE LOCK LOCK TOTAL FUND UNIVERSE HERE LOCK LOCK TOTAL FUND RISK MEASURES LOCK LOCK TOTAL EQUITY EXECUTIVE HERE LOCK LOCK TOTAL EQUITY UNIVERSE HERE LOCK LOCK TOTAL EQUITY RISK HERE LOCK LOCK TOTAL FIXED EXECUTIVE HERE LOCK LOCK TOTAL FIXED UNIVERSE HERE LOCK LOCK TOTAL FIXED RISK HERE LOCK LOCK DHJ TOTAL FUND EXECUTIVE HERE LOCK LOCK DHJ TOTAL FUND UNIVERSE HERE LOCK LOCK DHJ TOTAL FUND RISK MEASURES LOCK
START @B3 Sunrise Police START @E3 Sunrise Police % START @H3 Sunrise Police % START @K3 Sunrise Police START @N3 Sunrise Police % Sunrise Police Sunrise Police Sunrise Police Sunrise Police START @B3 Sunrise Police START @E3 Sunrise Police % START @H3 Sunrise Police %
Total Fund Total Account Total Fund Total Account Total Fund Total Account Total Equity Total Equity Total Equity Total Equity Total Equity Total Fixed Income Total Fixed Income Total Fixed Income Total Fund DHJ Total Total Fund DHJ Total Total Fund DHJ Total
Executive Summary Universe Universe Comparisons Risk Measures Risk Measures Executive Summary Universe Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Universe Comparisons Risk Measures Risk Measures
2 50% BLC Core Eq., 10% BSCV Core, 40% BFI 17 20 83.3% Brd. LC Core Equity, 16.7% BSCV Core 22 25 Broad Fixed Income 27 Inception date is December 31, 1997 55% Broad Large Cap Core Equity, 45% Broad FI 3 Yr
Inception date is December 31, 1997 4 3 Yr Inception date is December 31, 1997 21 3 Yr Inception date is December 31, 1997 26 3 Yr 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, 2005 Batting Average
Returns are gross of fees. Incept is December 31, 1997 to March 31, 2005 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2005 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2005 Batting Average Account Reconciliation Trailing Returns through March 31, 2005 Worst Qtr
Account Reconciliation Trailing Returns through March 31, 2005 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2005 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2005 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 Policy Standard Deviation
Ending Value Policy Standard Deviation Ending Value Policy Standard Deviation Ending Value LBAB Standard Deviation 3/31/2005 Return Beta
3/31/2005 Return Beta 3/31/2005 Return Beta 3/31/2005 Return Beta Qtr %-tile Annualized Alpha
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha 19,276 Universe R-Squared
43,096 Universe R-Squared 28,245 Universe R-Squared 13,210 Universe R-Squared -208 5th %-tile Sharpe Ratio
-187 5th %-tile Sharpe Ratio 83 5th %-tile Sharpe Ratio -514 5th %-tile Sharpe Ratio -359 25th %-tile Treynor Ratio
-418 25th %-tile Treynor Ratio -385 25th %-tile Treynor Ratio -43 25th %-tile Treynor Ratio 18,708 50th %-tile Tracking Error
42,491 50th %-tile Tracking Error 27,944 50th %-tile Tracking Error 12,653 50th %-tile Tracking Error 2,005 75th %-tile Information Ratio
2005 75th %-tile Information Ratio 2005 75th %-tile Information Ratio 2005 75th %-tile Information Ratio YTD 95th %-tile Fund
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund 19,276 2 Qtrs 6
43,096 2 Qtrs 6 28,245   2 Qtrs   5 13,210   2 Qtrs   3 -208 4.63 6
-187 5.92   6 83   9.32   7 -514   0.5 9 -359 19   41.67
-418 20 50 -385   18   33.33 -43   52   41.67 18,708 3.58 -5.61
42,491 4.53   -7.44 27,944 7.2   -17.97 12,653 0.48 -2.27 35,795 39   6.85
12/31/1997 62 8.62 12/31/1997 64 14.93 12/31/1997 54 5.39 Incept 6.22 12.46
Incept 7.2 16.06 Incept 11.29 32.9 Incept 3.57 7.66 15,998 4.13 -7.44
15,998 5.69 -9.47 10,999 8.69 -25.12 4,811 1.12 0.09 -6,354 3.23 8.04
13,250 4.82 9.34 10,670 7.51 18.77 1,121 0.54 4.05 9,065 2.29 0.87
13,243 4.13 0.86 6,275     6.68 1 6,721     0.05 0.96 18,708  18,708,000 1.22 -1.67
42,491  42,491,000 2.88 0.24 27,944   27,944,000 4.37 -0.66 12,653   12,653,000 -0.54 0.13 Investment Policy     3 Qtrs 0.94
Investment Policy 3 Qtrs 0.98 Investment Policy 3 Qtrs 0.99 Investment Policy 3 Qtrs 0.99 Index 2.77 0.19
Index 5.01 0.35 Index 5.96 0.1 Index 3.49 1.22 S&P 500 35 1.72
S&P 500 44 3.85 S&P 500 43 1.91 Lehman Aggregate Bond 42 5.16 Lehman Gov/Credit-Intermediate 3.77 2.34
Lehman Aggregate Bond 4.91 2.02 Russell 2000 Value 5.57 1.55 Total 3.69 0.43 Total 22 -1.03
Russell 2000 Value 47 -0.22 Total 51 -0.46 Weight 37 -0.3 Weight 5.85 Policy
Total 8.09 Policy Weight 10.48 Policy 100 8.2 LBAB 55 3.29 5
Weight 5.92 5 83.3 7.29 5 100 4.33 3 45 1.83 7
50 4.71 7 16.7 5.59 7 Trailing Returns through March 31, 2005 3.27 9 100 0.77 58.33
40 3.54 50 100 3.99 66.67 Fund 1.7 58.33 Trailing Returns through March 31, 2005 -1.05 -6.08
10 1.4 -9.11 Trailing Returns through March 31, 2005 0.47 -17.68 LBAB 0.78 -2.44 Fund 1 Yr 9.59
100 1 Yr 10.54 Fund   1 Yr   16.08 Diff   1 Yr   5.88 Policy 1 Yr FUND 2.65 0.0265 15.67
Trailing Returns through March 31, 2005 1 Yr FUND 5 0.05 19.65 Policy 1 Yr FUND 7.39 0.0739 33.76 1 Yr 1 Yr FUND 1.14 0.0114 8.32 Diff UNIVERSE 29   -6.91
Fund UNIVERSE 47 -11.04 Diff UNIVERSE 43 -24.41 1.14 UNIVERSE 49 0.33 1 Yr POLICY 3.56 0.0356 8.93
Policy POLICY 4.88 0.0488 10.81 1 Yr POLICY 7.25 0.0725 18.77 1.16 POLICY 1.16 0.0116 4.21 2.65 19   1
Diff 49 1 7.39 44 1 -0.02 48 1 3.56 5.49 0
1 Yr 8.45 0 7.25 12.04 0 2 Yr 7.3 0 -0.91 2.9 1
5 6.08 1 0.14 8.61 1 3.11 2.25 1 2 Yr 1.38 0.44
4.88 4.81 0.35 2 Yr 6.98 0.14 3.26 1.06 1.21 8.47 0.22 3.9
0.12 3.52 3.76 21.3 5.08 2.62 -0.15 0.14 5.08 11.96 -2.14 0
2 Yr 1.17 0 21.99 1.7 0 3 Yr -0.87 0 -3.49 2 Yr Diff
12.58 2 Yr Diff -0.69 2 Yr Diff 1/6/1900 2 Yr Diff 3 Yr 8.47 1
14.3 12.58   1 3 Yr 21.3     0 6.46 3.11   0 2.88 80   -1
-1.72 83 -1 3.29 61   0 -0.13 43 0 5.28 11.96 -16.66
3 Yr 14.3   0 4 21.99     -33.34 4 Yr 3.26   -16.66 -2.4 21   0.47
4.69 58 1.67 ################################## 51 -0.29 1/6/1900 40 0.17 4 Yr 13.9 -2.74
5.14 19.45 -1.92 4 Yr 27.79 -1.15 5.97 14.31 -0.49 3.16 11.24 -3.21
############################## 16.64 -3.59 2.84 24.42 -0.86 0.08 4.58 -0.66 1/4/1900 9.93 -0.53
4 Yr 14.8 1.57 2.68 22.03 -0.71 5 Yr 2.75 -0.24 -1.5 8.69 -0.89
4.27 13.31 -1.47 0.16 19.46 0 7.34 1.61 -0.16 5 Yr 7.35 -0.13
4.29 10.7 -0.14 5 Yr 15.97 0 1/7/1900 0.74 -0.04 0.27 3 Yr -1.67
-0.02 3 Yr 0.24 -2.66 3 Yr -0.66 0.12 3 Yr 0.13 2.48 3 YR FUND 2.88 0.0288 -0.06
5 Yr 3 YR FUND 4.69 0.0469 -0.02 -2.89 3 YR FUND 3.29 0.0329 -0.01 6 Yr 3 YR FUND 6.33 0.0633 -0.01 -2.21 UNIVERSE 56   -0.25
1.69 UNIVERSE 46 0 0.23 UNIVERSE 61 -0.04 1/6/1900 UNIVERSE 27 0.01 6 Yr POLICY 5.28 0.0528 -2.18
1.36 POLICY 5.14 0.0514 0.09 6 Yr POLICY 4 0.04 -0.71 1/6/1900 POLICY 6.46 0.0646 0.08 2.92 16   2.34
0.33 38 2.02 ################################## 49 1.55 0.03 26 0.43 1/3/1900 6.73 5 Yr 5 Yr
6 Yr 7.78 5 Yr 5 Yr 0.25 8.38 5 Yr 5 Yr 7 Yr 10.88 5 Yr 5 Yr ################################ 4.37 # of Negative Qtrs
1/2/1900 5.75 # of Negative Qtrs -0.76 5.28 # of Negative Qtrs 1/6/1900 6.47 # of Negative Qtrs 7 Yr 3.15 # of Positive Qtrs
2.92 4.52 # of Positive Qtrs 7 Yr 3.9 # of Positive Qtrs 6.34 5.18 # of Positive Qtrs 5.49 2.07 Batting Average
-0.03 3.5 Batting Average 1/1/1900 2.38 Batting Average 0.1 3.74 Batting Average 1/4/1900 0.59 Worst Qtr
7 Yr 1.78 Worst Qtr 2.67 0.04 Worst Qtr 8 Yr 9 Yr 10 Yr 2.01 Worst Qtr 0.88 4 Yr Best Qtr
1/4/1900 4 Yr Best Qtr ################################## 4 Yr Best Qtr 12/31/1997 4 Yr Best Qtr 8 Yr 9 Yr 10 Yr 3.16 Range
4.46 4.27 Range 8 Yr 9 Yr 10 Yr 2.84 Range Incept 6.05 Range 12/31/1997 31 Worst 4 Qtrs
############################## 35 Worst 4 Qtrs 12/31/1997 50 Worst 4 Qtrs 6.46 23 Worst 4 Qtrs Incept 4.66 Standard Deviation
8 Yr 9 Yr 10 Yr 4.29 Standard Deviation Incept 2.68 Standard Deviation 6.34 5.97 Standard Deviation 1/6/1900 11 Beta
12/31/1997 35 Beta 3.68 54 Beta 0.12 24 Beta 5.19 5.7 Annualized Alpha
Incept 7.02 Annualized Alpha 4.44 7.68 Annualized Alpha Calendar Year Returns 8.85 Annualized Alpha 1/1/1900 3.51 R-Squared
5.61 4.67 R-Squared -0.76 4.53 R-Squared Fund 5.88 R-Squared Calendar Year Returns 2.4 Sharpe Ratio
5.54 3.76 Sharpe Ratio Calendar Year Returns 2.81 Sharpe Ratio LBAB 4.92 Sharpe Ratio Fund 1.23 Treynor Ratio
0.07 2.83 Treynor Ratio Fund 1.52 Treynor Ratio Diff 3.93 Treynor Ratio Policy -0.31 Tracking Error
Calendar Year Returns 1.35 Tracking Error Policy -1.09 Tracking Error 3/31/2005 2.52 Tracking Error Diff 5 Yr Information Ratio
Fund 5 Yr Information Ratio Diff 5 Yr Information Ratio Qtr 5 Yr Information Ratio 3/31/2005 5 YR FUND 0.27 0.0027 Fund
Policy 5 YR FUND 1.69 0.0169 Fund 3/31/2005 5 YR FUND -2.66 -0.0266 Fund -0.34 5 YR FUND 7.34 0.0734 Fund Qtr UNIVERSE 25   10
Diff UNIVERSE 37 10 Qtr UNIVERSE 48 10 -0.47 UNIVERSE 14 4 -1.87 POLICY 2.48 0.0248 10
3/31/2005 POLICY 1.36 0.0136 10 -1.33 POLICY -2.89 -0.0289 10 0.13 POLICY 7.22 0.0722 16 ################################ 5   Batting Average 45
Qtr 41 Batting Average 65 ################################## 52 Batting Average 45 2005 16 Batting Average 50 -0.31 2.36 -7.29
-0.98 5.25 -7.44 1.12 3.77 -17.97 YTD 8.28 -2.27 2005 0.24 6.85
-1.64 2.59 8.62 2005 0.44 14.93 ################################## 6.81 5.39 YTD -1.05 14.14
0.66 0.87 16.06 YTD -2.83 32.9 -0.47 6.01 7.66 -1.87 -2.24 -13.1
2005 -0.34 -9.99 -1.33 -4.21 -26 0.13 4.87 0.09 -1.56 -4.63 Standard Deviation 8.31
YTD -2.26 Standard Deviation 8.67 -2.45 -7.28 Standard Deviation 17.95   6/26/1905 3.33 Standard Deviation 3.97 -0.31 6 Yr Beta 0.96
-0.98 6 Yr Beta 0.85 1/1/1900 6 Yr Beta 0.99   4.09 6 Yr Beta 0.95   2004 2.92 Annualized Alpha -2.05 -0.0205
-1.64 2.89 Annualized Alpha 0.47 0.0047 2004 -0.51 Annualized Alpha 0.22 0.0022 4.34 6.34 Annualized Alpha 0.45 0.0045 5.27 24 R-Squared 0.9  
1/0/1900 42 R-Squared 0.98 11.14 73 R-Squared 0.99 -0.25 15 R-Squared 0.99 1/7/1900 3.66 -0.29
2004 2.92 -0.11 1/12/1900 0.25 -0.3 2003 6.31 1.18 -2.1 18 -2.47
8.25 41 -1.12 ################################## 58 -5.35 1/4/1900 15 4.95 2003 6.18 2.59
9.14 5.91 1.89 2003 6.6 1.51 4.11 7.39 0.43 13.64 2.82 -0.85
############################## 3.64 0.17 29.32 2.64 0.15 0.02 5.89 0.28 1/17/1900 1.6 Policy Policy
2003 2.62 Policy Policy 30.42 0.76 Policy Policy 2002 5.22 Policy LBAB -4.01 0.66 10
16.85 1.68 10 -1.1 -0.68 10 10.98 4.41 5 2002 -1.68 10
19.45 0.23 10 2002 -2.94 10 1/10/1900 3.38 15 -6.4 7 Yr 55
-2.6 7 Yr 35 -21.11 7 Yr 55 0.03 7 Yr 50 -6.27 5.49 -6.08
2002 4.39 -9.11 -21 1.88 -17.68 2001 6.44 -2.44 -0.13 7 9.59
-7.7 29 10.54 -0.11 69 16.08 8.79 9 5.88 2001 4.61 15.67
-9.09 4.46 19.65 2001 2.67 33.76 8.43 6.34 8.32 -4.46 13 -8.19
1.39 28 -12.48 -12.36 51 -26.85 0.36 11 0.33 -1.65 5.9 Standard Deviation 8.26
2001 6.13 Standard Deviation 10.13 -13.47 7.7 Standard Deviation 18.02 2000 6.75 Standard Deviation 4.16 -2.81 3.85 1
-3.37 4.55 1 1.11 3.97 1 11.24 5.75 1 2000 2.82 0
-4.78 3.81 0 2000 2.74 0 11.95 5.19 0 1.47 1.92 1
1.41 3.04 1 -6.79 1.4 1 -0.71 4.5 1 1.22 0.58 -0.02
2000 1.68 -0.13 -9.85 -0.87 -0.31 1999 3.24 1.1 0.25 8 Yr -0.16
0.7 8 Yr -1.28 3.06 8 Yr -5.53 -1.19 8 Yr 4.58 1999 7.88 0
-1.52 8.97 0 6/21/1905 10.67 0 ################################## 7.63 0 15.52 5.95 Diff
2.22 7.48 Diff 8.77 8.05 Diff 0.86 6.5 Diff 7.59 5.11 0
6/21/1905 6.77 0 21.04 6.98 0 1998 5.88 -1 1/7/1900 4.35 0
6.98 6.06   0 -12.27 5.88   0 9.83 5.01   1 1998 3   -10
11.44 4.53 30 1998 3.13 -10 9.53 4.03 0 29.92 Calendar Year Returns -1.21
-4.46 Calendar Year Returns   1.67 30.71 Calendar Year Returns   -0.29 0.3 Calendar Year Returns   0.17 15.57 Fund   -2.74
1998 Fund -1.92 28.58 Fund -1.15 1997 1996 Fund -0.49 14.35 Return -1.53
23.44 Return -3.59 2.13 Return -0.86 Returns in Up Markets Return -0.66 1997 1996 %-tile -4.91
21.37 %-tile 2.49 1997 1996 %-tile 0.85 Fund %-tile -0.24 Returns in Up Markets Policy 0.05
2.07 Policy -1.46 Returns in Up Markets Policy -0.07 LBAB LBAB -0.19 Fund Return -0.04
1997 1996 Return -0.15 Fund Return -0.01 Ratio Return -0.05 Policy %-tile -2.05
Returns in Up Markets %-tile   0.47 Policy %-tile   0.22 3 Yr %-tile   0.45 Ratio Universe   -0.1
Fund Universe -0.02 Ratio Universe -0.01 9.9 Universe -0.01 3 Yr 5th %-tile -0.27
Policy 5th %-tile   0.02 3 Yr 5th %-tile   0.01 10.2 5th %-tile   0.08 1/13/1900 25th %-tile   -2.31
Ratio 25th %-tile 0.16 33.7 25th %-tile 0.18 97.5 25th %-tile 0.37 18.3 50th %-tile 2.59
3 Yr 50th %-tile 1.89 34.3 QU. FUND 50th %-tile 1.51 5 Yr 50th %-tile 0.43 3/13/1900 75th %-tile   7 Yr
18 75th %-tile 7 Yr 98.3 UNIVERSE 75th %-tile 7 Yr 10.8 75th %-tile 7 Yr 5 Yr 95th %-tile # of Negative Qtrs
21.4 95th %-tile # of Negative Qtrs 5 Yr POLICY 95th %-tile # of Negative Qtrs 10.8 95th %-tile # of Negative Qtrs 1/13/1900 Qtr   # of Positive Qtrs
84.2 Qtr # of Positive Qtrs 30.9 Qtr # of Positive Qtrs 99.8 Qtr # of Positive Qtrs 16.7 QU. FUND -1.87 -0.0187 Batting Average
5 Yr QU. FUND -0.98 -0.0098 Batting Average 1/30/1900 -1.33 -0.0133 Batting Average 7 Yr QU. FUND -0.34 -0.0034 Batting Average 82 UNIVERSE 39 Worst Qtr
16.2 UNIVERSE 28 Worst Qtr 101.9 24 Worst Qtr 10.3 UNIVERSE 40 Worst Qtr 7 Yr POLICY -1.56 -0.0156 Best Qtr
1/18/1900 POLICY -1.64 -0.0164 Best Qtr 7 Yr -2.45 -0.0245 Best Qtr 10.4 POLICY -0.47 -0.0047 Best Qtr 1/18/1900 30 Range
86.2 69 Range 31.8 72 Range 98.7 52 Range 15 -0.52 Worst 4 Qtrs
7 Yr 0.14   Worst 4 Qtrs 2/2/1900 0.2   Worst 4 Qtrs 12/31/1997 0.51   Worst 4 Qtrs 120.5 -1.36   Standard Deviation
18.6 -0.89 Standard Deviation 94.5 -1.37 Standard Deviation Incept -0.19 Standard Deviation 12/31/1997 -2.26 Beta
1/20/1900 -1.36   Beta 12/31/1997 -2.01   Beta 10.1 -0.46   Beta Incept -2.86   Annualized Alpha
90.6 -1.79 Annualized Alpha Incept -2.56 Annualized Alpha 10.2 -0.81 Annualized Alpha 19.5 -4.05 R-Squared
12/31/1997 -2.91 R-Squared 33.8 -4.27 R-Squared 99.1 -1.74 R-Squared 15.4 YTD Sharpe Ratio
Incept YTD Sharpe Ratio 35.5 YTD Sharpe Ratio Returns in Down Markets YTD Sharpe Ratio 126.4 -1.87 Treynor Ratio
20 -0.98 Treynor Ratio 95.1 -1.33 Treynor Ratio Fund -0.34 Treynor Ratio Returns in Down Markets 39 Tracking Error
21.6 28 Tracking Error Returns in Down Markets 24 Tracking Error LBAB 40 Tracking Error Fund -1.56 Information Ratio
92.8 -1.64   Information Ratio Fund -2.45   Information Ratio Ratio -0.47   Information Ratio Policy 30   Fund
Returns in Down Markets 69 Fund Policy 72 Fund 3 Yr 52 Fund Ratio -0.52 12
Fund 0.14   12 Ratio 0.2 12 -2.9 0.51   7 3 Yr -1.36   16
Policy -0.89 16 3 Yr -1.37 16 -3 -0.19 21 ################################ -2.26 53.57
Ratio -1.36 60.71 -28 -2.01 42.86 95.1 -0.46 50 -10.6 -2.86   -7.29
3 Yr -1.79 -7.44 -27.3 -2.56 -17.97 5 Yr -0.81 -2.27 4/6/1900 -4.05 14.62
-11.5 -2.91 12.53 102.8 -4.27   19.75 -2.5 -1.74 5.39 5 Yr 2004   21.91
-14 2004 19.97 5 Yr 2004 37.72 -3 2004 7.66 ################################ 2004 FUND 5.27 0.0527 -13.1
81.9 2004 FUND 8.25 0.0825 -9.99 -27.6 2004 FUND 11.14 0.1114 -26 84.5 2004 FUND 4.09 0.0409 -1.19 -10 UNIVERSE 57 10.04
5 Yr UNIVERSE 59 9.42 ################################## UNIVERSE 62 17.98 7 Yr UNIVERSE 41 4.03 115.8 POLICY 7.37 0.0737 1.15
-11 POLICY 9.14 0.0914 0.89 4/9/1900 POLICY 12.3 0.123 0.94 -2.5 POLICY 4.34 0.0434 0.96 7 Yr 24   0.3
############################## 42 0.4 0.004 7 Yr 42 -0.64   -3.1 36 0.36 0.0036 ################################ 11.04 0.79 0.0079
3/21/1900 12.59   0.97 -27.7 16.97 0.97 80.6 10.91 0.98 ################################ 7.24   0.22
7 Yr 10.28 0.12 ################################## 13.58 -0.08 12/31/1997 5.09 0.78 117.8 5.66 1.91
-11.9 8.63 1.24 99.8   11.9   -1.5 Incept 3.7   3.28 12/31/1997 3.91   4.73
############################## 7.34 2.01 12/31/1997   10 3.45 -2.5 2.1 0.58 Incept 2.18 0.19
87.2 5.45 -0.03 Incept   6.99   -0.23 -3.1 0.87   0.17 -11.4 2003   Policy
12/31/1997 2003 Policy -27.7 2003 Policy 80.6 2003 LBAB -9.6 2003 FUND 13.64 0.1364 11
Incept 2003 FUND 16.85 0.1685 12 -27.8 2003 FUND 29.32 0.2932 12 2003 FUND 4.13 0.0413 8 117.8 UNIVERSE 98 17
-11.9 UNIVERSE 92 16 99.8 UNIVERSE 58 16 UNIVERSE 43 20 POLICY 17.65 0.1765 46.43
-13.6 POLICY 19.45 0.1945 39.29 POLICY 30.42 0.3042 57.14 POLICY 4.11 0.0411 50 46   -6.08
87.2 57 -9.11 43 -17.68 43 -2.44 22.77 9.59
29.22   12.55 36.82 21.3 26.58 5.88 19.16   15.67
22.06 21.66 32.3 38.98 6.42 8.32 17.29 -8.19
19.85 -12.48 29.85   -26.85 3.67   -2.05 15.74   7.74
18.43 10.49 27.78 18.87 2.09 4.17 14.05 1
16.26 1 24.27   1 1.11   1 2002   0
2002 0 2002 0 2002 0 2002 FUND -6.4 -0.064 1
2002 FUND -7.7 -0.077 1 2002 FUND -21.11 -0.2111 1 2002 FUND 10.98 0.1098 1 UNIVERSE 11 0.17
UNIVERSE 25 0.11 UNIVERSE 59 -0.03 UNIVERSE 9 0.73 POLICY -6.27 -0.0627 1.32
POLICY -9.09 -0.0909 1.17 POLICY -21 -0.21 -0.62 POLICY 10.95 0.1095 3.05 10   0
50 0 57 0 9 0 -4.67 Diff
-5.42   Diff -15 Diff 11.72 Diff -7.9   1
-7.86 0 -18.49 0 9.31 -1 -9.88 -1
-9.12 0 -20.63   0 7.69   1 -11.83   7.14
-10.74 21.42 -22.12 -14.28 4.45 0 -15.67 -1.21
-14.31 1.67 -25.01   -0.29 -2.07   0.17 2001   5.03
2001 -0.02 2001 -1.55 2001 -0.49 2001 FUND -4.46 -0.0446 6.24
2001 FUND -3.37 -0.0337 -1.69 2001 FUND -12.36 -0.1236 -1.26 2001 FUND 8.79 0.0879 -0.66 UNIVERSE 31 -4.91
UNIVERSE 30 2.49 UNIVERSE 49 0.85 UNIVERSE 13 0.86 POLICY -1.65 -0.0165 2.3
POLICY -4.78 -0.0478 -1.07 POLICY -13.47 -0.1347 -0.89 POLICY 8.43 0.0843 -0.14 7   0.15
50 -0.11 61 -0.06 19 -0.04 -1.09 0.3
2.02   0.4 -1.19 -0.64 9.68 0.36 -3.75   -0.21
-2.73 -0.03 -9.13 -0.03 8.13 -0.02 -6.03 0.05
-4.8 0.01 -12.52   -0.05 7.33   0.05 -8.3   0.59
-6.27 0.07 -14.88 -0.88 6.21 0.23 -12.65 4.73
-9.49 2.01 -19.01   3.45 0.36   0.58 2000   Incept
2000 Incept 2000 Incept 2000 Incept 2000 FUND 1.47 0.0147 # of Negative Qtrs
2000 FUND 0.7 0.007 # of Negative Qtrs 2000 FUND -6.79 -0.0679 # of Negative Qtrs 2000 FUND 11.24 0.1124 # of Negative Qtrs UNIVERSE 28 # of Positive Qtrs
UNIVERSE 31 # of Positive Qtrs UNIVERSE 43 # of Positive Qtrs UNIVERSE 22 # of Positive Qtrs POLICY 1.22 0.0122 Batting Average
POLICY -1.52 -0.0152 Batting Average POLICY -9.85 -0.0985 Batting Average POLICY 11.95 0.1195 Batting Average 30 Worst Qtr
47 Worst Qtr 61 Worst Qtr 13 Worst Qtr 8.29 Best Qtr
8.15 Best Qtr 9.08 Best Qtr 13.05 Best Qtr 1.9 Range
1.67 Range -2.52 Range 11.01 Range -1.81 Worst 4 Qtrs
-1.84 Worst 4 Qtrs -8.46 Worst 4 Qtrs 9.44 Worst 4 Qtrs -5.31 Standard Deviation
-4.14 Standard Deviation -12.08 Standard Deviation 7.02 Standard Deviation -11.62 Beta
-9.07 Beta -17.64 Beta -8.83 Beta 1999 Annualized Alpha
1999 Annualized Alpha 1999 Annualized Alpha 1999 Annualized Alpha 15.52 R-Squared
6.98 R-Squared 8.77 R-Squared -1.19 R-Squared 54 Sharpe Ratio
85 Sharpe Ratio 90 Sharpe Ratio 72 Sharpe Ratio 7.59 Treynor Ratio
11.44 Treynor Ratio 21.04 Treynor Ratio -2.05 Treynor Ratio 97 Tracking Error
61 Tracking Error 42 Tracking Error 82 Tracking Error 32.62 Information Ratio
25.5 Information Ratio 42.65 Information Ratio 7 Information Ratio 20.05 Fund
15.67 Fund 25.39 Fund 2.72 Fund 15.92 12
12.33 12 20.6 12 0.33 7 12.59 17
8.99 17 15.03 17 -1.4 22 9.07 55.17
2.75 62.07 3.81 44.83 -3.93 51.72 1998 -7.29
1998 -7.44 1998 -17.97 1998 -2.27 29.92 14.62
23.44 12.53 30.71 19.75 9.83 5.39 1 21.91
10 19.97 19 37.72 6 7.66 15.57 -13.1
21.37 -9.99 28.58   -26 9.53 -1.19 39 10.34
18 9.8 30 18.31 8 3.96 21.16 1.19
24.89 0.9 36.48   0.94 9.93 0.96 16.7 0.65
20.32 0.56 28.93 -0.52 8.09 0.37 14.48 0.79
17.98 0.97 25.98 0.97 6.94 0.98 11.87 0.32
13.26 0.23 17.56 0.02 5.76 0.79 6.88 2.81
5.43 2.51 6.92   0.35 -0.13 3.24 1997 4.92
1997 2.02 1997 3.39 1997 0.58 18.8 0.3
25.44 0.03 36.67   -0.22 14.34 0.21 15.98 Policy
23.25 Policy 32.86 Policy 9.77 LBAB 14.29 11
21.43 12 30.18 12 8.72 8 12.69 18
19.01 17 26.13 17 7.12 21 10.29 44.83
13.6 37.93 17.94 55.17 5.89 48.28   -6.08
-9.11 -17.68 -2.44 9.59
12.55 21.3 5.88 15.67
21.66 38.98 8.32 -8.19
-12.48 -26.85 -2.05 7.75
10.68 19.13 4.09 1
1 1 1 0
0 0 0 1
1 1 1 0.24
0.21 0.06 0.73 1.84
2.19 1.09 2.99 0
0 0 0 Diff
Diff Diff Diff 1
0 0 -1 -1
0 0 1 10.34
24.14 -10.34 3.44 -1.21
1.67 -0.29 0.17 5.03
-0.02 -1.55 -0.49 6.24
-1.69 -1.26 -0.66 -4.91
2.49 0.85 0.86 2.59
-0.88 -0.82 -0.13 0.19
-0.1 -0.06 -0.04 0.65
0.56 -0.52 0.37 -0.21
-0.03 -0.03 -0.02 0.08
0.02 -0.04 0.06 0.97
0.32 -0.74 0.25 4.92
2.02 3.39 0.58 5.08