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 TOTAL 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 Total DHJ Total 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 Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures
30 Broad Large Cap Core Equity 32 37 Universe Comparisons Risk Measures 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 55% Broad Large Cap Core Equity, 45% Broad FI 3 Yr Inception date is December 31, 2002 53 1 Yr Inception date is March 18, 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 September 30, 2004 Batting Average Returns are gross of fees. Incept is December 31, 2002 to September 30, 2004 Batting Average Returns are gross of fees. Incept is March 18, 2004 to September 30, 2004 Batting Average
Account Reconciliation Trailing Returns through March 31, 2004 Worst Qtr Account Reconciliation Trailing Returns through September 30, 2004 Worst Qtr Account Reconciliation Trailing Returns through September 30, 2004 Worst Qtr Account Reconciliation Trailing Returns through September 30, 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 Policy Standard Deviation Ending Value S&P500 Standard Deviation Ending Value R2000V Standard Deviation
3/31/2004 Return Beta 9/30/2004 Return Beta 9/30/2004 Return Beta 9/30/2004 Return Beta
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
19,769 Universe R-Squared 11,384 Universe R-Squared 11,029 Universe R-Squared 3,415 Universe R-Squared
4,333 5th %-tile Sharpe Ratio -202 5th %-tile Sharpe Ratio 861 5th %-tile Sharpe Ratio -8 5th %-tile Sharpe Ratio
390 25th %-tile Treynor Ratio -551 25th %-tile Treynor Ratio -90 25th %-tile Treynor Ratio -110 25th %-tile Treynor Ratio
24,492 50th %-tile Tracking Error 10,630 50th %-tile Tracking Error 11,800 50th %-tile Tracking Error 3,296 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 8 650 -1.89 7 1,496   -1.63 2 3,058 4.86 1.14
390   33   58.33 -494 73 41.67 221   85   75 238 7 Batting Average 53.33
24,492 14.08 -17.77 10,630 -0.02 -5.61 11,800 -0.18 -0.95 3,296 1 -3.22
12/31/1997 40 14.61 12/31/1997 45 6.85 12/31/2002 50 14.95 3/18/2004 57 8.35
Incept 19.01 32.38 Incept 2.27 12.46 Incept 4.49 15.9 Incept 5.18 11.57
  10,999 15.19 -25.33 10,999 0.58 -7.44   6,658 1.66 17.36 2,899 2.45 Standard Deviation 11.07
8,274 13.84 20.64 -4,942 -0.3 7.51 2,490 -0.19 9.1 159 1.46 Beta 0.6
5,218     12.4 0.99 4,573     -2.07 0.83 2,653     -0.74 0.96   238 -0.56 Annualized Alpha 12.48
24,492  24,492,000 9.7 0.67 10,630  10,630,000 -5.49 -1.54 11,800  11,800,000 -3.29 3.64 0.0364 3,296   3,296,000 -3.25 R-Squared 0.46
Investment Policy 3 Qtrs 1 Investment Policy 3 Qtrs 0.95 Investment Policy 3 Qtrs 0.82 Investment Policy 3 Qtrs 0.67
Index 18.62 -0.03 Index -1.27 0.25 Index 2.09 1.79 Index 12.79 12.35
S&P 500 24 -0.6 S&P 500 86 2.23 S&P 500 50 17 Russell 2000 Value 8.55 9.61
Total 17.09 1.29 Total 2.04 2.23 Total 1.51 3.84 Total 6.81 0.67
Weight 40 0.52 Weight 48 -1.14 Weight 59 0.91 Weight 4.39 Policy R2000V
100 24.7 S&P500 100 7.52 Policy 100 9.04 S&P500 100 0.34 0
100 18.47 4 100 3.62 5 100 4.76 1 100 1 Yr 2.14
Trailing Returns through March 31, 2004 16.8 8 Trailing Returns through September 30, 2004 1.88 7 Trailing Returns through September 30, 2004 2.02 3 Trailing Returns through September 30, 2004 33.25 46.67
Fund 15.49 41.67 Fund 0.27 58.33 Fund 1.04 25 Fund 24.88 0.15
S&P500 11.19 -17.28 S&P500 -3.72 -6.08 S&P500 -1.78 -1.87 R2000V 22.79 0.85
Diff   1 Yr   15.39 Diff   1 Yr   9.59 Diff   1 Yr   12.18 Diff 19.56 0.7
1 Yr 1 Yr FUND 35.96 0.3596 32.67 1 Yr 1 Yr FUND 3.59 0.0359 15.67 1 Yr 1 Yr FUND 17.36 0.1736 14.05 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 13.41 12.52
35.96 UNIVERSE 34 -24.76 1/4/1900 UNIVERSE 84 -6.91 1/17/1900 UNIVERSE 30 13.87 3/18/2004 2 Yr 1
35.12 POLICY 35.12 0.3512 20.91 13.87 POLICY 8.81 0.0881 8.81 13.87 POLICY 13.87 0.1387 8.56 Incept 30.75 0
0.84 39 1 -9.42 55 1 3.49 57 1 8.01 26.84 1
2 Yr 46.22 0 2 Yr 21.62 0 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 23.92 0 1.58 25.14 0.08
0.76 37.64 1 1/11/1900 14.25 1 12/31/2002 18.34 1 6.43 22.91 0.98
0.83 34.56 -0.06 19.02 9.46 0.5 Incept 14.42 1.5 Calendar Year Returns 16.72 0
-0.07 31.35 -1.26 -7.05 5.51 4.4 20.2 13.02 12.83 Fund 3 Yr Diff
3 Yr 25.07 0 3 Yr 0.93 0 16.49 8.08 0 R2000V 21.49 1
1/1/1900 2 Yr Diff 1.05 2 Yr Diff 1/3/1900 2 Yr Diff Diff 17.7 -1
   0.63 0.76   0   1/4/1900 8   0    Calendar Year Returns 23.81   1   9/30/2004 15.11 6.66
   1/0/1900 43 0   ################################## 80 0    Fund 19.56 -1   Qtr 12.88 -3.37
  4 Yr 0.83   16.66   4 Yr 12.39   -16.66   S&P500 18.29   50   -3.22 6.83 7.5
-4.76 41 -0.49 -8.86 56 0.47 Diff 16.87 0.92 0.15 4 Yr 10.87
-5.48 6.66 -0.78 ################################## 26.19 -2.74 9/30/2004 14.05 2.77 -3.37 18.41 -1.45
1/0/1900 2.3 -0.29 -4.21 18.87 -3.21 Qtr 3 Yr 1.85 2004 14.13 -0.4
5 Yr 0.54 -0.57 5 Yr 13.51 -0.53 -0.95 12.19 3.49 YTD 2003 2002 2001 2000 1999 1998 1997 1996 1995 10.95 12.48
-1.83 -0.89 -0.27 -2.67 8.55 -1.3 -1.87 6.45 0.54 Returns in Up Markets 8.22 -0.54
############################## -3.75 -0.01 -1.31 1.76 -0.17 1/0/1900 4.1 -0.04 Fund 3.16 0.59
-0.63 3 Yr 0.67 -1.36 3 Yr -1.54 2004 3.25 3.64 R2000V 5 Yr 11.37
6 Yr 3 YR FUND 1.3 0.013 0 6 Yr 3 YR FUND 3.26 0.0326 -0.05 YTD   0.25   -0.18 Ratio 19.09 9.61
1/1/1900 UNIVERSE 31 0.03 1/2/1900 UNIVERSE 70 -0.25 1/2/1900   4 Yr 0.29 3/18/2004 15.41
1.83 POLICY 0.63 0.0063 0.66 3.04 POLICY 5.81 0.0581 -2.17 1.51   8.28   4.17 Incept 12.65
-0.67 41 1.29 -0.92 51 2.23 0.58   3.28 3.84 8 10.23
7 Yr 8 Yr 9 Yr 10 Yr 6.89 5 Yr 5 Yr 7 Yr 8 Yr 9 Yr 10 Yr 14.01 5 Yr 5 Yr 6/25/1905 -0.91 Incept Incept 1.6 6.29
12/31/1997 1.67 # of Negative Qtrs 12/31/1997 9.5 # of Negative Qtrs 2/4/1900 -4.78 # of Negative Qtrs 507 6 Yr
Incept 0.35 # of Positive Qtrs Incept 5.85 # of Positive Qtrs 28.68 -6 # of Positive Qtrs Returns in Down Markets 19.58
3.26 -0.93 Batting Average 1/4/1900 2.49 Batting Average 6.48 5 Yr Batting Average Fund 14.86
3.91 -3.92 Worst Qtr 1/3/1900 -1.28 Worst Qtr 2002 2001 2000 1999 1998 1997 1996 1995 10.12 Worst Qtr R2000V 12.36
############################## 4 Yr Best Qtr 1/0/1900 4 Yr Best Qtr Returns in Up Markets 4.34 Best Qtr Ratio 10.35
Calendar Year Returns -4.76 Range Calendar Year Returns -1.1 Range Fund 1.61 Range 3/18/2004 8.29
Fund 40 Worst 4 Qtrs Fund 69 Worst 4 Qtrs S&P500 -1.36 Worst 4 Qtrs Incept 7 Yr
S&P500 -5.48 Standard Deviation S&P500 2.12 Standard Deviation Ratio -2.38 Standard Deviation 12.56
Diff 49 Beta Diff 51 Beta 1 Yr 6 Yr Beta 9.96
3/31/2004 3.81 Annualized Alpha 9/30/2004 10.9 Annualized Alpha 1/18/1900 11.92 Annualized Alpha 7.73
Qtr -2.09 R-Squared Qtr 5.79 R-Squared 16 6.73 R-Squared 6.22
2.06 -5.61 Sharpe Ratio -4.9 2.17 Sharpe Ratio 115.2 4.33 Sharpe Ratio 4.34
1.69 -6.74 Treynor Ratio ################################## -2.3 Treynor Ratio 12/31/2002 2.71 Treynor Ratio 8 Yr
1/0/1900 -10.38 Tracking Error ################################## -9.09 Tracking Error Incept 0.67 Tracking Error 15.28
2004 5 Yr Information Ratio 2004 5 Yr Information Ratio 34.7 7 Yr Information Ratio 13.62
YTD 5 YR FUND -1.83 -0.0183 Fund YTD 5 YR FUND 2.38 0.0238 Fund 29 8.28   Fund 11.72
2.06 UNIVERSE 69 8 -4.34 UNIVERSE 69 Fund 9 119.6   5.44 3 10.45
1.69 POLICY -1.2 -0.012   12 1.51 POLICY 3.71 0.0371 11 Returns in Down Markets   3.87     4 7.7
1/0/1900 51 Batting Average 55 -5.85 55 50 Fund   2.78 Batting Average 71.43 Calendar Year Returns
2003 9.66 -17.77 2003 10.92 Batting Average -7.29 S&P500 0.73 -3.96 Fund
1/29/1900 1.38 14.61 23.08 6.78 10.46 Ratio 8 Yr 17.8 Return
28.68 -1.18 32.38 1/28/1900 4.15 17.75 1 Yr 11.73 21.76 %-tile
0.77 -2.09 -25.89 ################################## 1.27 -13.1 ################################ 9.05 17.36 R2000V
2002 -4.94 Standard Deviation 18.42 2002 -3.82 9.21 -1.9 7.5 Standard Deviation 10.78 Return
-21.99 6 Yr Beta 0.94   -20.58 6 Yr Standard Deviation 1.02 50.8 6.24 Beta 1.03   %-tile
-22.1 1.16 Annualized Alpha -0.72 -0.0072 -22.1 5.1 Beta -1.3 -0.013 12/31/2002 4.38 Annualized Alpha 2.87 0.0287 Universe
1/0/1900 67 R-Squared 0.97 1.52 52 Annualized Alpha 0.88 Incept Calendar Year Returns R-Squared 0.87 5th %-tile
6/23/1905 1.83 -0.28 2001 4.21 R-Squared -0.06 ################################ Fund 1.77 25th %-tile
-11.7 44 -5.48 -16.13 68 -0.57 -5 Return 18.57 QU. FUND 50th %-tile
-11.88 7.64 3.6 -11.88 10.98 3.25 98.2 %-tile 3.92 UNIVERSE 75th %-tile
1/0/1900 2.97 -0.17 -4.25 7.19 -0.41 S&P500 0.95 POLICY 95th %-tile
2000 1.62 Policy S&P500 2000 5.27 Policy Return Policy S&P500 Qtr
-5.58 0.67 9 -6.27 3.6 Policy 9 %-tile 2 -3.22 -0.0322
-9.11 -2.03 11 -9.11 0.78 11 Universe 5 92
3.53 7 Yr 45 2.84 7 Yr 50 5th %-tile 28.57 0.15 0.0015
1999 11.91 -17.28 1999 8.49 -6.08 25th %-tile -3.15 34
8.77 8.12 15.39 26.62 5.95 9.59 50th %-tile   15.39 3.05
1/21/1900 7.04 32.67 21.04 4.21 15.67 75th %-tile 18.54 0.67  
-12.27 5.65 -26.62 5.58 2.55 -8.19 95th %-tile   13.87 -0.74
1998 2.86 Standard Deviation 19.2 6/20/1905 -0.51 8.46 Qtr Standard Deviation 9.77 -1.94
30.71 8 Yr 1 40.41 8 Yr Standard Deviation 1 QU. FUND -0.95 -0.0095 1 -4.2
28.58 11.91 0 28.58 9.02 0 UNIVERSE 49 0 YTD
2.13 8.87 1 11.83 7.03 1 POLICY -1.87 -0.0187 1 12.79
1997 1996 1995 8.22 -0.24 1997 1996 1995 5.57 0.09 68 1.58 8.55
Returns in Up Markets 6.8 -4.52 Returns in Up Markets 4.24 0.75 4.38 15.42 6.81
Fund 4.05 0 Fund 1.75 0 0.38 0 4.39
S&P500 Calendar Year Returns Diff S&P500 Calendar Year Returns Diff -1.04 Diff 0.34
Ratio Fund -1 Ratio Fund 0 -1.99 1 2003
3 Yr Return   1 3 Yr Return   0 -3.49   -1 53.56
32.2 %-tile 10 23.1 %-tile 0 YTD 42.86 43.94
31.2 S&P500   -0.49 28.6 Policy   -1.21 2.09   -0.81 38.98
103 Return -0.78 80.7 Return 0.87 50 2.41 35.3
5 Yr %-tile -0.29 5 Yr %-tile 2.08 1.51 3.22 27.69
31 Universe 0.73 30.9 Universe -4.91 59 3.49 2002
32.4 5th %-tile -0.78 30 5th %-tile 0.75 9.04 1.01 1.2
95.6 25th %-tile -0.06 4/12/1900 25th %-tile 0.02 4.76 0.03 -6.32
6 Yr 50th %-tile   -0.72 6 Yr 50th %-tile   -1.3 2.02   2.87 -11.28
32.7 75th %-tile -0.03 34.6 75th %-tile -0.12 1.04 -0.13 -15.78
34.9 95th %-tile   -0.04 34.3 95th %-tile   -0.15 -1.78   0.19 -20.15
93.7 Qtr -0.96 4/10/1900 Qtr -1.32 2003 3.15 2001
12/31/1997 QU. FUND 2.06 0.0206 3.6 12/31/1997 QU. FUND -1.77 -0.0177 3.25 2003 FUND 35.16 0.3516 3.92 26.57
Incept UNIVERSE 37 6 Yr Incept UNIVERSE 73 6 Yr UNIVERSE 1 17.56
34.8 POLICY 1.69 0.0169 # of Negative Qtrs 36.5 POLICY 0.19 0.0019 # of Negative Qtrs POLICY 28.68 0.2868 11.75
36.9 50 # of Positive Qtrs 34.8 44 # of Positive Qtrs 23 5.92
4/3/1900 4.69 Batting Average 105 3.31 Batting Average 32.31 -0.83
Returns in Down Markets 2.55 Worst Qtr Returns in Down Markets 1.22 Worst Qtr 28.49 2000
Fund 1.68 Best Qtr Fund -0.08 Best Qtr 27.67 34.76
S&P500 1.24 Range S&P500 -2.02 Range 25.15 23.25
Ratio -0.36   Worst 4 Qtrs Ratio -4.96   Worst 4 Qtrs 22.17   17.5
3 Yr YTD Standard Deviation 3 Yr YTD Standard Deviation 2002 11.3
-40.5 2.06   Beta ################################## -1.27   Beta 2002 FUND -11.31   1.04
-40.8 37 Annualized Alpha -31.9 86 Annualized Alpha UNIVERSE -16.33 1999
99.2 1.69 R-Squared 100 2.04 R-Squared NA -19.88 16.81
5 Yr 50 Sharpe Ratio 5 Yr 48 Sharpe Ratio -22.33 11.34
-31 4.69 Treynor Ratio -32.2 7.52 Treynor Ratio -25.04 4.25
-30.9 2.55 Tracking Error -29.5 3.62 Tracking Error 2001 -1.13
100.2 1.68   Information Ratio 4/18/1900 1.88   Information Ratio 5.61 0.0561 -6.81
6 Yr 1.24 Fund 6 Yr 0.27 Fund -3.21 1998
-30.8 -0.36   9 -30.7 -3.72   10 -8.64 -0.0864 6.9
-31.3 2003 15 -28.9 2003 14 -12.12 -0.79
98.5 2003 FUND 29.45 0.2945 54.17 4/15/1900 2003 FUND 13.64 0.1364 54.17 2001 FUND -14.21   -5.04
12/31/1997 UNIVERSE 27 -17.77 12/31/1997 UNIVERSE 76 -7.29 UNIVERSE 2000 -8.98
Incept POLICY 28.68 0.2868 19.75 Incept POLICY 17.65 0.1765 14.62 POLICY 20.68   -13.11
-30.8 34 37.52 -29.9 62 21.91 9.66 1997
-31.3 35.07 -25.89 -29.4 46.12 -13.1 0.81 38.7
4/7/1900 29.63 18.99 101.8 32.88 10.26 -9.06 32.43
27.91   0.93 22.82   1.13   -9.96 -0.0996 27.92
25.2 -0.59 -0.0059 13.96 0.46 0.0046 1999   23.21
20.9   0.97 0.76   0.8 22.9 0.229 17.47
2002 -0.13 2002 0.18 20.37 1996
2002 FUND -21.99 -0.2199 -2.59 2002 FUND -6.4 -0.064 1.65 2000 FUND 14.99   35.44
UNIVERSE 44 3.58 UNIVERSE 41 4.77 UNIVERSE 3.15 26.68
POLICY -22.1 -0.221 -0.19 POLICY -6.27 -0.0627 0.19 POLICY -5.6   22.12
47 S&P500 40 Policy 1998 19.15
-15.02 10 7.91 10 30.24 12.56
-19.91 14 -0.59 14 28.06
-22.25   45.83 -8.29   45.83 19.31 0.1931
-23.64 -17.28 -15.06 -6.08 11.45
-26.8   21.3 -25.17   9.59 4.41 0.0441
2001 38.58 2001 15.67 1997
2001 FUND -11.7 -0.117 -26.62 2001 FUND -4.46 -0.0446 -8.19 1999 FUND 38.51  
UNIVERSE 46 20.04 UNIVERSE 59 8.09 UNIVERSE 32.94
POLICY -11.88 -0.1188 1 POLICY -1.65 -0.0165 1 POLICY 30.77  
48 0 47 0 26.72
0.69 1 10.57 1 22.19
-8.82 -0.09 4.14 0.12 1996
-12.07   -1.74 -2.86   0.97 28.7
-13.76 0 -8.27 0 23.06
-19.6   Diff -17.83   Diff 21.86
2000 -1 2000 0 19.07
2000 FUND -5.58 -0.0558 1 2000 FUND 1.47 0.0147 0 14.29
UNIVERSE 45 8.34 UNIVERSE 61 8.34
POLICY -9.11 -0.0911 -0.49 POLICY 1.22 0.0122 -1.21
65 -1.55 62 5.03
15.56 -1.06 17.94 6.24
0.06 0.73 9.14 -4.91
-6.88   -1.05 4.55   2.17
-9.62 -0.07 -3.01 0.13
-15.34   -0.59 -14.47   0.46
1999 -0.03 1999 -0.2
1999 FUND 8.77 0.0877 -0.04 1999 FUND 15.52 0.1552 0.06
UNIVERSE 89 -0.85 UNIVERSE 42 0.68
POLICY 21.04 0.2104 3.58 POLICY 7.59 0.0759 4.77
41 Incept 63 Incept
40.15 # of Negative Qtrs 52.34 # of Negative Qtrs
24.24 # of Positive Qtrs 24.73 # of Positive Qtrs
20.43 Batting Average 12.15 Batting Average
15.61 Worst Qtr 3.4 Worst Qtr
5.6 Best Qtr -2.48 Best Qtr
1998 Range 1998 Range
1998 FUND 30.71 Worst 4 Qtrs 29.92 Worst 4 Qtrs
UNIVERSE 16 Standard Deviation 4 Standard Deviation
POLICY 28.58 Beta 15.57 Beta
25 Annualized Alpha 21 Annualized Alpha
35.85 R-Squared 26.23 R-Squared
28.5 Sharpe Ratio 13.85 Sharpe Ratio
25.14 Treynor Ratio 7.34 Treynor Ratio
17.48 Tracking Error 4.99 Tracking Error
7.55 Information Ratio -1.97 Information Ratio
1997 Fund 1997 Fund
36.26 9 29.83 11
32.81 16 20.67 16
30.27 56 12.52 55.56
25.81 -17.77 7.45 -7.29
15.95 19.75 3.13 14.62
1996 37.52 1996 21.91
28.82 -25.89 23.98 -13.1
23.34 19.32 14.73 10.46
21.69 0.94 8.45 1.18
18.67 -0.44 4.55 0.65
13.52 0.97 2.89 0.78
-0.02 0.29
-0.4 2.57
3.51 5.08
-0.19 0.29
S&P500 Policy
10 10
15 17
44 44.44
-17.28 -6.08
21.3 9.59
38.58 15.67
-26.62 -8.19
20.28 7.81
1 1
0 0
1 1
0.01 0.2
0.27 1.58
0 0
Diff Diff
-1 1
1 -1
12 11.12
-0.49 -1.21
-1.55 5.03
-1.06 6.24
0.73 -4.91
-0.96 2.65
-0.06 0.18
-0.44 0.65
-0.03 -0.22
-0.03 0.09
-0.67 0.99
3.51 5.08