SUNRISE POLICE SCROLL TO RIGHT------> Small Cap
LOCK N/A LOCK LOCK N/A LOCK LOCK N/A LOCK LOCK DHJ LG.GR. EXECUTIVE HERE LOCK LOCK DHJ EQ. UNIVERSE HERE LOCK LOCK DHJ EQ RISK HERE LOCK LOCK COHEN & STEERS LOCK LOCK COHEN & STEERS LOCK LOCK COHEN & STEERS 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
DHJ Large Cap Growth Equity (R1000G) DHJ Large Cap Growth Equity (R1000G) DHJ Large Cap Growth Equity (R1000G) Cohen & Steers (Large Cap Value Equity + Cash) Cohen & Steers (Large Cap Value Equity + Cash) Cohen & Steers (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
49 Broad Large Cap Growth Equity 54 57 Broad Large Cap Value Core Equity 61 64 Broad Small Cap Value Core 68
Inception date is December 31, 1997 51 3 Yr Inception date is June 30, 2008 59 Incept Inception date is March 31, 2004 66 Incept 2 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
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 December 31, 2008 Batting Average Returns are net of fees. Incept is June 30, 2008 to December 31, 2008 Batting Average Returns are net of fees. Incept is March 31, 2004 to December 31, 2008 Batting Average
Account Reconciliation Trailing Returns through December 31, 2008 Worst Qtr Account Reconciliation Trailing Returns through December 31, 2008 Worst Qtr Account Reconciliation Trailing Returns through December 31, 2008 Worst 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
Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs
Ending Value R1000G Standard Deviation Ending Value R1000V Standard Deviation Ending Value R2000V Standard Deviation
12/31/2008 Return Beta 12/31/2008 Return Beta 12/31/2008 Return Beta
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
4,106 Universe R-Squared 9,814 Universe R-Squared 4,300 Universe R-Squared
1,026 5th %-tile Sharpe Ratio -1 5th %-tile Sharpe Ratio -1 5th %-tile Sharpe Ratio
-964 25th %-tile Treynor Ratio -2,152 25th %-tile Treynor Ratio -1,165 25th %-tile Treynor Ratio
4,168 50th %-tile Tracking Error 7,660 50th %-tile Tracking Error 3,134 50th %-tile Tracking Error
2009 75th %-tile Information Ratio 2009 75th %-tile Information Ratio 2009 75th %-tile Information Ratio
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund
    4,106 1 Yr 4 9,814   2 Qtrs   2 4,300 2 Qtrs 4
  1,026 -36.45 -0.3645 8 -1   -26.97 -0.2697 0 -1 -25.36 -0.2536 4
    -964 12 50 -2,152   37   50 -1,165 56 Batting Average 37.5
4,168 -38.44 -0.3844 -23.11 7,660 -27 -0.2693 -21.93 3,134 -21.17 -0.2117 -27.11
12/31/1997 43 6.11 6/30/2008 2/6/1900 -6.46 3/31/2004 21 6.75
Incept -32.98 29.22 Incept -23.59 15.47 Incept -16.69 33.86
  10,999 -37.61 -36.45   10,493 -26 22.78 2,986 -22.06 -28.94
-12,744 -39.5 15.6 -3 -28.18 0.98 659 -24.44 Standard Deviation 21.51
                  - 5,913 -42.38 0.94 -2,830     -29 -1.51 -0.0151 -512 -26.27 Beta 0.97  
4,168    4,168,000 -46.3 0.07 7,660    7,660,000 -30 0.99 0.0099 3,134   3,134,000 -28.01 Annualized Alpha -1.44 -0.0144
Investment Policy 2 Yr 0.98 Investment Policy 3 Qtrs -1.21 Investment Policy 3 Qtrs R-Squared 0.89
Index -14.24 -0.1424 -0.78 Index -27.26 -28.21 Index -23.43 -0.2343 -1.11
Russell 1000 Growth 10 -13.02 Russell 1000 Value -29.62 2.29 Russell 2000 Value 18 -24.67
Total -17.04 -0.1704 2.64 Total -30.43 -0.02 Total -23.96 -0.2396 7.03
Weight 35 0.24 Weight -30.76 R1000V Weight 20 -0.11
70 100 -13.53 R1000G 100 -32.33 2 100 -17.19 Policy R2000V
30 100 -16.52 5 100 1 Yr 0 100 -24.55 5
100 50 Trailing Returns through December 31, 2008 -18.15 7 Trailing Returns through December 31, 2008 -33.7 50 Trailing Returns through December 31, 2008 -27.32 3
Trailing Returns through March 31, 2008 -8.57 Fund -19.53 50 Fund -35.64 -22.18 Fund -28.32 62.5
Fund 5.08 R1000G -22.95 -22.79 R1000V -36.79 -6.11 R2000V -29.71 -24.89
Policy     13.65 Diff   3 Yr   6.86 Diff   -37.58   16.07 Diff 1 Yr #VALUE! 4.96
Diff 1 Yr FUND 0 -8.71 1 Yr 1 Yr FUND -8.48 -0.0848 29.65 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 1 Yr FUND -39.54 -0.3954 23.19 1 Yr -28.94 -0.2894 29.85
1 Yr UNIVERSE 11.19 ################################## UNIVERSE 25 -38.44 6/30/2008 UNIVERSE 2 Yr 1 ################################### 26 0.26 -28.93
-12.71 POLICY 0 1 -38.44 POLICY -9.11 -0.0911 16.4 Incept POLICY -16.4 -0.164 0 -28.93 -28.93 -0.2893 21.05
-8.71 0 1.99 37 1 -26.97 -17.99 1 -0.01 26 1
-4 1 2 Yr -6.59 0 -26.93 -18.75 -1.19 2 Yr -23.43 0
2 Yr -1.15 ################################## -8.48 1 ################################ -20.15 -27.61 ################################### -28.91 1
################################# -12.9 -17.04 -9.85 -0.78 Fiscal Year Returns Ending September -23.74 0 -19.92 -31.75 -1.1
0.85 0 2.8 -11.28 -12.87 Fund 3 Yr Diff -0.75 -32.11 -23.18
-2.2 Diff 3 Yr -13.3 0 R1000V -5.74 0 3 Yr -35.26 0
3 Yr 0 -8.48 4 Yr Diff Diff -7.5 0 ################################### 2 Yr = Diff
   1/2/1900   0   ################################## -5.2 -0.052 -1    12/31/2008 2 Yr FUND ################################# -0.0838 0   ################################### -20.67 -0.2067 -1
   1/5/1900 0   1/0/1900 32 1    Qtr UNIVERSE -9.18 0.25   -1.92 92 1
  -2.98   -0.9   4 Yr -5.71 -0.0571 0   -21.93 POLICY -11.76 -0.1176 -0.35   4 Yr -19.92 -0.1992 -25
4 Yr 0.89 -5.2 45 -0.32 ################################ 4 Yr -0.6 ################################### 59 -2.22
1/4/1900 2.02 1.79 ################################## -3.18 -0.75 1/0/1900 -2.52 -0.41 ################################### -16.37 1.79
1/6/1900 1.06 -4 0.51 -4.95 -0.43 2009   -4.19 -0.02 -2.26 -16.82 4.01
-1.99 0.12 0.13 5 Yr -5.97 1.99 YTD -5.07 -1.51 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr -17.74 -0.01
5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr -1.17 -0.08 -3.05 -7.02 -0.8 ################################ -5.68 -0.01 3/31/2004 -20.44 0.46
3/31/2004 3 Yr -4.94 -3.43 -8.77 -0.06 ################################ -8.07 -0.02 Incept -20.8 -0.03
Incept 2.48 -0.17 0.38 5 Yr 0.07 0.25 5 Yr -0.6 -2.43 3 Yr #VALUE! -1.44
1/4/1900 3 YR FUND 99 0.99 -0.34 6 Yr 3 YR FUND -3.05 -0.0305 -0.02 2008 2007 2006 2005 2004 2003 2002 2001 2000   0.93 0.0093 2.29 -1.12 -9.41 -0.0941 -0.11
1/6/1900 UNIVERSE 5.46 -5.47 1/0/1900 UNIVERSE 47 0 Returns in Up Markets   -0.77 -0.14 ################################### 84 0.84 -0.01
-1.99 POLICY 54 0.54 4.69 1.45 POLICY -3.43 -0.0343 -0.15 Fund   -1.9 -0.019 -1.83 Fiscal Year Returns Ending September -7.49 -0.0749 -1.49
Fiscal Year Returns Ending September 9.29 2 Yr -0.57 57 2.64 R1000V   -2.54 3.34 Fund 51 7.03
Fund 6.48 5 Yr # of Negative Qtrs 7 Yr -0.41 5 Yr 5 Yr Ratio -4.18 4 Yr R2000V -4.55 3 Yr
Policy 5.57 # of Positive Qtrs ################################## -2.14 # of Negative Qtrs 6/30/2008 6 Yr # of Negative Qtrs Diff -6.59 # of Negative Qtrs
Diff 4.79 Batting Average -3.38 -3.14 # of Positive Qtrs Incept 5.39 # of Positive Qtrs 12/31/2008 -7.41 # of Positive Qtrs
3/31/2008 3.37 Worst Qtr 1/0/1900 -4.21 Batting Average Returns in Down Markets 3.59 Batting Average Qtr -8.9 Batting Average
Qtr 4 Yr Best Qtr 8 Yr -6.07 Worst Qtr Fund 2.64 Worst Qtr -27.11 -11.15 Worst Qtr
################################# 4.02 Range ################################## 6 Yr Best Qtr R1000V 2.07 Best Qtr ################################### 4 Yr #VALUE! Best Qtr
################################# 99 Worst 4 Qtrs ################################## 0.88 0.0088 Range Ratio 0.7 0.007 Range ################################### -6.84 -0.0684 Range
1.57 6.01 Standard Deviation 1/1/1900 63 Worst 4 Qtrs 6/30/2008 7 Yr Worst 4 Qtrs 2009 92 0.92 Worst 4 Qtrs
2008 64 Beta 9 Yr 1.45 0.0145 Standard Deviation Incept 2.22 0.0222 Standard Deviation YTD -4.58 -0.0458 Standard Deviation
YTD 9.49 Annualized Alpha ################################## 53 Beta -27 0.35 Beta ################################### 63 Beta
################################# 7.35 R-Squared ################################## 3.8 Annualized Alpha ################################ -0.55 Annualized Alpha -24.89 -2.37 Annualized Alpha
-12.7 6.39 Sharpe Ratio 3.18 2.47 R-Squared 100.1 -1.6 R-Squared -2.22 -3.38 R-Squared
-3.11 5.72 Treynor Ratio 10 Yr 1.6 Sharpe Ratio YTD -2.49 Sharpe Ratio 2008 -4.14 Sharpe Ratio
2007 4.77 Tracking Error ################################## 0.24 Treynor Ratio ################################ 8 Yr Treynor Ratio ################################### -5.32 Treynor Ratio
1/13/1900 5 Yr Information Ratio ################################## -1.58 Tracking Error ################################ 2.4 Tracking Error ################################### -7.78 Tracking Error
13.3 16.12 Fund 2.46 7 Yr Information Ratio -0.14 0.22 Information Ratio -3.53 5 Yr Information Ratio
-0.13 5 YR FUND 14.16 0.1416 4 12/31/1997 5 YR FUND -2.51 -0.0251 Fund Fund 2007 -1.19 -0.0119 Fund 2007 3.06 Fund
2006 UNIVERSE 13.2 4 Incept UNIVERSE 44 7 1/13/1900   -2.9 6 1/12/1900 1.51 5
11.07 POLICY 12.39 0.1239   62.5 1/1/1900 POLICY -3.38 -0.0338 13 14.45   -3.46 -0.0346 10 6.08 0.21 7
1/11/1900 11.7 Batting Average -9.47 ################################## 65 Batting Average 50 ################################   Fiscal Year Returns Ending September 31.25 6.29 -0.23 41.67
-0.74 6 Yr 7.59 2.43 -0.15 -23.11 2006 Fund -8.13 2006 -3.13 -27.11
6/27/1905 8.92 17.06 Fiscal Year Returns Ending September -1.61 10.86 1/11/1900 Return 8.88 1/9/1900 6 Yr 13.53
1/11/1900 6.86 -12.71 Fund -2.78 33.97 14.62 %-tile 17.01 1/14/1900 9.19 40.64
13.96 5.93 9.84 R1000G -3.96 -36.45 ################################ R1000V -23.7 -4.79 7.42 -28.94
-2.79 5.15 Standard Deviation 0.96 Diff -5.33 Standard Deviation 13.57 2005 Return 9.88 2005 6.39 19.99
2004 2003 2002 2001 2000 1999 4.14 Beta -2.1   12/31/2008 8 Yr Beta 0.95 1/10/1900 %-tile 0.87   1/12/1900 5.62 0.98
Returns in Up Markets 7 Yr Annualized Alpha 0.87 0.0087 Qtr -4.32 Annualized Alpha 0.2 0.002 1/16/1900 Universe -1.68 -0.0168 1/17/1900 2.84 -1.98 -0.0198
Fund 8.61 R-Squared -0.6 -23.11 47 R-Squared 0.97 ################################ 5th %-tile 0.89 ################################### 7 Yr 0.89
Policy 7.29 -6.19 -22.79 -5.7 -0.45 6/26/1905 25th %-tile -0.19 2004 2003 2002 2001 2000 8.23 -0.66
Ratio 6.41 3.62 -0.32 68 -6.47 1/16/1900 50th %-tile ####### -2.14 Returns in Up Markets 4.45 -13.44
1 Yr 5.65 -0.61 2009 -1.92 2.45 1/20/1900 75th %-tile 3.58 Fund 3.92 6.64
1/6/1900 4.87 Policy YTD -3.17 0.16 ################################ 95th %-tile ####### -0.63 R2000V 2.52 -0.29
5.1 8 Yr Policy 4 -23.11 -4.51 Policy R1000G 2003 2002 2001 2000 1999 Qtr R1000V Ratio -0.06 R2000V
117.5 8.67 4 -22.79 -5.93 7 Returns in Up Markets -21.93 -0.2193 5 2 Yr 8 Yr 6
2 Yr 7.07 37.5 -0.32 -7.82 13 Fund 46 11 12.6 11.01 6
20 5.68 -8.57 2008 9 Yr 50 R1000V -22.18 -0.2218 68.75 8.9 6.3 58.33
19.2 3.75 7.4 -17.28 -4.54 -22.79 Ratio 77 -8.72 141.1 5.76 -24.89
104.2 2.26 15.97 -20.88 42 9.17 3 Yr -19.87   10.38 3 Yr 5.14 13.5
3 Yr Fiscal Year Returns Ending September -8.71 3.6 -7.72 31.96 1/15/1900 -21.18 19.1 1/25/1900 2.37 38.39
1/15/1900 Fund 9.52 2007 85 -38.44 16.9 -21.94   -23.56 24.1 Fiscal Year Returns Ending September -28.93
17.3 Return Standard Deviation 1 1/19/1900 -0.85 Standard Deviation 14.04 88.4 -22.14 10.67 105.1 Fund 19.14
88.2 %-tile 0 19.35 -3.79 1 4 Yr -23.55 1 4 Yr QU. FUND Return #VALUE! 1
3/31/2004 Policy 1 -0.03 -5.07 0 1/13/1900 YTD 0 1/18/1900 UNIVERSE %-tile 0
Incept Return -0.39 2006 -6.78 1 16.8 -21.93 1 20 POLICY R2000V #VALUE! 1
1/16/1900 %-tile -3.74 4.42 -9.11 -0.47 3/19/1900 46 0.04 92.8 Return -0.59
18.9 Universe 0 6.03 10 Yr -6.53 5 Yr QU. FUND -22.18 0.39 3/31/2004 %-tile #VALUE! -11.25
89 5th %-tile Diff -1.61 -1.81 0 1/14/1900 UNIVERSE 77 0 Incept Universe 0
Returns in Down Markets 25th %-tile 0 2005 44 Diff 17.8 POLICY -19.87 Diff 20.1 5th %-tile #VALUE! Diff
Fund 50th %-tile 0 12.97 -4.27 0 80.2 -21.18 1 19.9 25th %-tile -1
Policy 75th %-tile   25 11.6 85   0 12/31/2002 -21.94 -0.2194 -1 101.1 50th %-tile #VALUE! 1
Ratio 95th %-tile -0.9 1.37 0.91 0 Incept -22.14 -37.5 Returns in Down Markets 75th %-tile -16.66
1 Yr Qtr   0.19 2004 -0.82   -0.32 18 -23.55 -0.2355 0.59 Fund 95th %-tile #VALUE! -2.22
-17.6 -7 1.09 4.45 -2.08 1.69 20.6 2008 -1.5 R2000V Qtr #VALUE! 0.03
################################# 7 -4 1/7/1900 -3.22 2.01 3/27/1900 -18.71 -0.1871 -2.09 Ratio -27.11 -0.2711 2.25
134.2 -8.57 0.32 -3.06 -6.59 1.99 Returns in Down Markets -20.81 -0.14 2 Yr 94 0.94 -0.01
2 Yr 46 -0.04 2003 Fiscal Year Returns Ending September -0.47 Fund -22.33 -0.2233 -0.79 -37.2 -24.89 -0.2489 0.85
-18.9 -6.78 -2.1 1/20/1900 Fund -0.05 R1000V -23.92 -0.13 -34.6 53 -0.02
################################# -7.9   -0.13 1/25/1900 Return   0.2 Ratio -27.22 -0.2722 -1.68 107.7 -16.38 -1.98
128.7 -8.75 -0.21 -5.89 %-tile -0.03 3 Yr 2007 -0.11 3 Yr -23.81 -0.11
3 Yr -9.5   -2.45 2002 R1000G   0.02 -19.8 19 0.19 -0.23 -34.5 -24.71 -0.07
-18.9 -10.48 3.62 ################################## Return 0.06 -19.5 16.37 -2.53 -31 -25.63 -2.19
################################# QU. FUND YTD ####### 3 Yr ################################## %-tile 2.45 101.6 15.91 3.58 111.2 -27.67 6.64
128.7 UNIVERSE -15.81 # of Negative Qtrs 4.82 Universe 10 Yr 4 Yr 14.22 Incept 5 Yr 4 Yr YTD 4 Yr
3/31/2004 POLICY 98 0.98 # of Positive Qtrs 2001 5th %-tile # of Negative Qtrs -19.8 9.6 # of Negative Qtrs -31.7 -27.11 # of Negative Qtrs
Incept -12.7 Batting Average -33.13 25th %-tile # of Positive Qtrs -19.5 2006 # of Positive Qtrs -28.9 94 # of Positive Qtrs
################################# 54 Worst Qtr ################################## QU. FUND 50th %-tile Batting Average 4/10/1900 2004 FUND 15.52 0.1552 Batting Average 109.5 -24.89 Batting Average
-12.4 -9.88 Best Qtr 12.51 UNIVERSE 75th %-tile Worst Qtr 5 Yr UNIVERSE 13.19 Worst Qtr 3/31/2004 53 Worst Qtr
114.6 -11.53 Range 2000 POLICY 95th %-tile Best Qtr -19.8 POLICY 11.7 0.117 Best Qtr Incept -16.38 Best Qtr
S&P500 -12.52 Worst 4 Qtrs 26.61 Qtr Range -19.5 10.56 Range -31.7 -23.81 Range
Ratio -13.62   Standard Deviation 1/23/1900 -23.11 -0.2311 Worst 4 Qtrs 101.6 9.76 Worst 4 Qtrs -28.9 -24.71 Worst 4 Qtrs
3 Yr -15.19 Beta 3.18 54 Standard Deviation 12/31/2002 2005 Standard Deviation 109.5 -25.63 Standard Deviation
-40.5 2007   Annualized Alpha Returns in Up Markets -22.79 -0.2279 Beta Incept 19.68 Beta -27.67 Beta
-40.8 13.17 R-Squared Fund 50 Annualized Alpha -19 16.1 Annualized Alpha 2008 Annualized Alpha
99.2 83 Sharpe Ratio R1000G -20.31 R-Squared -19.3 12.39   R-Squared -15.78 R-Squared
5 Yr 13.3 Treynor Ratio Ratio -21.89 Sharpe Ratio 4/7/1900 11.83 Sharpe Ratio 80 Sharpe Ratio
-31 82 Tracking Error 3 Yr -22.82 Treynor Ratio 2003 FUND 8.34 0.0834 Treynor Ratio -12.25 Treynor Ratio
-30.9 20.14 Information Ratio 14.2 -24.41 Tracking Error UNIVERSE 2004 Tracking Error 29 Tracking Error
100.2 16.71   Fund 1/15/1900 -26.99   Information Ratio POLICY 22.45 0.2245 Information Ratio -8.19 Information Ratio
6 Yr 15.09 4 3/28/1900 YTD Fund 19.05 Fund -11.35 Fund
-30.8 13.63   8 5 Yr -23.11   15 16.36 8 -14.45 6
-31.3 11.48 50 1/13/1900 54 25 13.81   12 -14.96 10
98.5 2003 FUND 2006 20.06 -9.47 1/15/1900 -22.79 47.5 13.17   Batting Average 35 -17.49 43.75
12/31/1997 UNIVERSE 11.07 7.59 3/29/1900 50 -23.11 2003 -8.13 2007 -27.11
Incept POLICY 44 0.44 17.06 10 Yr -20.31 18.83 30.06   14.81 12.37 13.53
-30.8 11.81 -12.71 24.1 -21.89 41.94 24.33 22.94 55 40.64
-31.3 28 9.18 28 2004 FUND -22.82 -0.2282 -36.45 2002 FUND 23.74   -23.7 6.08 -28.94
4/7/1900 13.63 0.91 3/25/1900 UNIVERSE -24.41 17.37 UNIVERSE 20.77 Standard Deviation 9.85 100 18.42
11.93   -2.35 12/31/1997 POLICY -26.99 -0.2699 0.81   NA 16.26   Beta 0.88 23.98 0.98
10.71 0.87 0.0087 Incept 2008 1.42 0.0142 2002 Annualized Alpha -1.57 -0.0157 15.39 -2.32 -0.0232
8.99   -0.19 28.7 -17.28 0.95 -7.8   R-Squared 0.87 12.62 0.89
6.6 -1.9 2/1/1900 10 -0.29 -14.2 0.15 9.91 -0.57
2002 FUND 2005 20.05 3.47 87.6 -20.88   -6.31 -17.41 1.72 7.04 -10.62
UNIVERSE 11.17 -0.86 Returns in Down Markets 32 5.56 -20.64 3.72 2006 6.05
POLICY 95 0.95 Policy Fund -15.25   0.44 -22.62 -0.68 9.21 -0.37
13.96 4 R1000G -20.07 R1000G 2001 Policy R1000V 55 R2000V
66 8 Ratio 2003 FUND -22.53 -0.2253 17   12.69   5 14 7
22.41 50 3 Yr UNIVERSE -25.72 23   -2.53 15 1 9
17.21   -8.57 -32.8 POLICY -29.44 -0.2944 52.5   -10.61   65 13.25 56.25
14.97 7.4 -35.3 2007 -22.79 -26.62 -8.72 11.5 -24.89
13.26   15.97 92.9 19.32 25.14 -27.01 14.19 9.78 13.5
11.01 -8.71 5 Yr 46 47.93 23 22.91 6.28 38.39
2001 FUND 2004 20.04 9.37 ################################## 19.35   -45.64   19.58 -23.56 -2.91 -28.93
UNIVERSE 23.62 1 ################################## 46 20.96   16.25 Standard Deviation 10.43 2005 17.83
POLICY 19.76 0.1976 0 3/31/1900 27.74   1   12.45 1 12.93 1
17.24 1 10 Yr 21.53 0 11.74 0 91 0
15.21 0.13 -28.4 2002 FUND 18.79 0.1879 1 8.75   1 17.75 1
12.19 1.25 -35.4 UNIVERSE 15.69 -0.36 2004 0.39 71 -0.46
2003   0 80.3 POLICY 10.15 0.1015 -7.57 16.73   4.03 24.63 -8.15
27.84 Diff 12/31/1997 2006 0 43 0 21.81 0
25.03   0 Incept 4.42 Diff 20.52 Diff 20.3 Diff
23.22 0 -28.1 65 -2 10 3 16.98 -1
2000 FUND 20.96 0.2096 0 -35.2 6.03   2 22.45 -3 11.37 1
UNIVERSE 18.02 -0.9 79.8 49 -5 18.97 -30 2004 -12.5
POLICY 2002 20.02 0.19 11.56   -0.32 16.22 0.59 33.25 -2.22
-5.31 1.09 8.5 -6.31 13.84 0.62 24.88 0.03
-10.93 -4 2001 FUND 5.96 0.0596 -5.99 13.19 0.03 22.79 2.25
-13.63 -0.19 UNIVERSE 3.16 9.19 2003 -0.14 19.56 -0.01
-15.7   -0.09 POLICY -3.37 -0.0337 -3.59 29.45 -0.58 13.41 0.59
-18.62 -2.35 2005 -0.19 24.5 -0.12 2003 -0.02
2001   -0.13 12.97 1.42 23.64 -1.57 36.11 -2.32
4.41 -0.32 63 -0.05 20.59 -0.13 29.71 -0.11
1999 FUND -3.06 -0.0306 -3.15 11.6   0.07 16.24 -0.24 26.15 -0.11
UNIVERSE -8.63 3.47 74 1.26 2002 -2.31 22.71 -2.47
POLICY -15.13 -0.1513 Incept 26.56   5.56 -8.3 3.72 14.77 6.05
-20.75 # of Negative Qtrs 18.97 Incept -14.37 Incept 2002 Incept
2000 # of Positive Qtrs 2000 FUND 14.4 0.144 # of Negative Qtrs -17.9 # of Negative Qtrs 9.49 # of Negative Qtrs
22.04 Batting Average UNIVERSE 11.48 # of Positive Qtrs -20.69 # of Positive Qtrs 2.65 # of Positive Qtrs
15.71 Worst Qtr POLICY 7.67 0.0767 Batting Average -22.62 Batting Average -2.41 Batting Average
11.94 Best Qtr 2004 Worst Qtr 2001 Worst Qtr -6.84 Worst Qtr
7.53 Range 4.45 Best Qtr 7.8 Best Qtr -14.06 Best Qtr
2.05 Worst 4 Qtrs 88 Range -2.53 Range 2001 Range
1998 FUND 30.71 Standard Deviation 7.51 Worst 4 Qtrs -10.48 Worst 4 Qtrs 14.31 Worst 4 Qtrs
UNIVERSE 16 Beta 63 Standard Deviation -26.59 Standard Deviation 8.77 Standard Deviation
POLICY 28.58 Annualized Alpha 17.89 Beta -27.09 Beta 3.66 Beta
25 R-Squared 11.72 Annualized Alpha 2000 Annualized Alpha -5.01 Annualized Alpha
35.85 Sharpe Ratio 8.74 R-Squared 26.23 R-Squared -19.22 R-Squared
28.5 Treynor Ratio 6.26 Sharpe Ratio 16.75 Sharpe Ratio Sharpe Ratio
25.14 Tracking Error 2.04 Treynor Ratio 12.87 Treynor Ratio Treynor Ratio
17.48 Information Ratio 2003 Tracking Error 7.17 Tracking Error Tracking Error
7.55 Fund 20.02 Information Ratio 1.36 Information Ratio Information Ratio
1997 6 63 Fund Fund Fund
36.26 10 25.91 16 9 7
32.81 43.75 19 28 14 12
30.27 -9.47 34.24 47.73 43.48 42.11
25.81 9.74 24.4 -23.11 -8.13 -27.11
15.95 19.21 21.58 21.83 17.8 13.53
1996 -12.71 18.63 44.94 25.93 40.64
28.82 8.97 13.1 -36.45 -23.7 -28.94
23.34 0.89 2002 18.48 10.39 18.17
21.69 -1.22 -17.69 0.81 0.9 0.96
18.67 0.86 19 1.95 -0.71 -0.0071 -1.18 -0.0118
13.52 0.05 -22.51 0.96 0.88 0.86
0.53 60 -0.11 0.4 -0.31
3.51 -12.54 -2.48 4.58 -5.88
-0.57 -18.67 5.67 3.78 6.86
Policy -21.5 0.43 -0.43 -0.19
6 -24.59 R1000G R1000V R2000V
10 -30.7 18 6 7
56.25 2001 26 17 12
-8.57 -33.13 52.27 56.52 57.89
10.43 24 -22.79 -8.72 -24.89
19 -45.64 26.74 17.27 13.5
-8.71 74 49.53 25.99 38.39
9.37 -27.62 -45.64 -23.56 -28.93
1 -33.35 22.24 10.79 17.49
0 -38.5 1 1 1
1 -46.64 0 0 0
0.26 -56.07 1 1 1
2.46 -0.2 0.53 -0.25
0 -4.44 5.76 -4.33
Diff 0 0 0
0 Diff Diff Diff
0 -2 3 0
-12.5 2 -3 0
-0.9 -4.54 -13.04 -15.78
-0.69 -0.32 0.59 -2.22
0.21 -4.91 0.53 0.03
-4 -4.59 -0.06 2.25
-0.4 9.19 -0.14 -0.01
-0.11 -3.76 -0.4 0.68
-1.22 -0.19 -0.1 -0.04
-0.14 1.95 -0.71 -1.18
-0.21 -0.04 -0.12 -0.14
-1.93 0.09 -0.13 -0.06
3.51 1.96 -1.18 -1.55
3.51 5.67 3.78 6.86