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% IFI 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, 2006 Batting Average
Returns are gross of fees. Incept is December 31, 1997 to March 31, 2006 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2006 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2006 Batting Average Account Reconciliation Trailing Returns through March 31, 2006 Worst Qtr
Account Reconciliation Trailing Returns through March 31, 2006 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2006 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2006 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 3/31/2006 Return Beta
3/31/2006 Return Beta 3/31/2006 Return Beta 3/31/2006 Return Beta Qtr %-tile Annualized Alpha
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha 20,058 Universe R-Squared
45,022 Universe R-Squared 29,842 Universe R-Squared 13,721 Universe R-Squared 20 5th %-tile Sharpe Ratio
51 5th %-tile Sharpe Ratio -703 5th %-tile Sharpe Ratio 117 5th %-tile Sharpe Ratio 324 25th %-tile Treynor Ratio
1,403 25th %-tile Treynor Ratio 1,443 25th %-tile Treynor Ratio -60 25th %-tile Treynor Ratio 20,403 50th %-tile Tracking Error
46,476 50th %-tile Tracking Error 30,582 50th %-tile Tracking Error 13,777 50th %-tile Tracking Error 2,006 75th %-tile Information Ratio
2006 75th %-tile Information Ratio 2006 75th %-tile Information Ratio 2006 75th %-tile Information Ratio YTD 95th %-tile Fund
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund 19,409 2 Qtrs 3
43,648 2 Qtrs 3 28,875   2 Qtrs   2 12,999   2 Qtrs   5 240 3.84 9
475 5.37   9 -591   8.09   10 754   0.14 7 754 56   41.67
2,353 32 33.33 2,298   38   33.33 24   61   41.67 20,403 3.55 -1.87
46,476 4.56   -0.98 30,582 7.69   -3.08 13,777 -0.05 -2.27 35,795 68   6.85
12/31/1997 62 8.62 12/31/1997 49 14.93 12/31/1997 71 2.97 Incept 7.78 8.72
Incept 7.35 9.6 Incept 10.84 18.01 Incept 3.75 5.24 15,998 4.68 2.65
15,998 5.65 4.13 10,999 8.63 4.95 4,811 1.32 0.09 -6,149 3.95 5.46
13,647 4.8 5.97 10,109 7.67 10.55 1,916 0.4 3.21 10,555 3.25 0.84
16,831 4.27 0.87 9,474     6.89 0.96 7,051     -0.12 0.94 20,403  20,403,000 2.43 -0.37
46,476  46,476,000 3.39 0.31 30,582   30,582,000 5.41 -0.35 13,777   13,777,000 -0.77 0.17 Investment Policy     3 Qtrs 0.85
Investment Policy 3 Qtrs 0.95 Investment Policy 3 Qtrs 0.97 Investment Policy 3 Qtrs 0.99 Index 5.96 1.15
Index 6.6 1.54 Index 10.14 1.51 Index -0.27 0.29 S&P 500 59 7.48
S&P 500 71 10.54 S&P 500 84 16.63 Lehman Aggregate Bond 60 0.99 Lehman Gov/Credit-Intermediate 5.37 2.34
Lehman Aggregate Bond 6.51 1.62 Russell 2000 Value 11.49 1.93 Total -0.73 0.33 Total 72 -0.9
Russell 2000 Value 72 -0.84 Total 60 -0.62 Weight 75 0.03 Weight 11.2 Policy
Total 11.51 Policy Weight 17.53 Policy 100 5.49 LBAB 55 8.02 2
Weight 8.99 2 83.3 13.57 2 100 1.68 5 45 6.26 10
50 7.38 10 16.7 11.89 10 Trailing Returns through March 31, 2006 0.17 7 100 5.13 58.33
40 6.38 66.67 100 10.79 66.67 Fund -0.74 58.33 Trailing Returns through March 31, 2006 3.28 -1.56
10 4.92 -1.64 Trailing Returns through March 31, 2006 8.6 -2.45 LBAB -1.82 -2.44 Fund 1 Yr 9.59
100 1 Yr 10.54 Fund   1 Yr   16.08 Diff   1 Yr   3.2 Policy 1 Yr FUND 7.93 0.0793 11.15
Trailing Returns through March 31, 2006 1 Yr FUND 8.44 0.0844 12.18 Policy 1 Yr FUND 11.57 0.1157 18.53 1 Yr 1 Yr FUND 2.59 0.0259 5.64 Diff UNIVERSE 71   3.48
Fund UNIVERSE 77 4.02 Diff UNIVERSE 89 4.91 2.59 UNIVERSE 38 0.33 1 Yr POLICY 7.36 0.0736 5.98
Policy POLICY 9.1 0.091 6.68 1 Yr POLICY 13.72 0.1372 10.81 2.26 POLICY 2.26 0.0226 3.39 7.93 78   1
Diff 59 1 11.57 55 1 0.33 52 1 7.36 15.23 0
1 Yr 14.69 0 13.72 21.19 0 2 Yr 7.57 0 0.57 11.18 1
8.44 11.15 1 -2.15 15.97 1 1.86 2.97 1 2 Yr 9.03 1.4
9.1 9.61 1.58 2 Yr 13.9 1.59 1.71 2.28 0.27 5.25 7.61 8.39
-0.66 8.5 10.53 9.46 12.62 17.16 0.15 1.81 0.92 5.44 5.87 0
2 Yr 6.91 0 10.44 10.41 0 3 Yr 1.14 0 -0.19 2 Yr Diff
6.71 2 Yr Diff -0.98 2 Yr Diff 1/2/1900 2 Yr Diff 3 Yr 5.25 1
6.97 6.71   1 3 Yr 9.46     0 2.93 1.86   0 8.29 55   -1
-0.26 64 -1 17.97 73   0 0.01 44 0 10.4 5.44 -16.66
3 Yr 6.97   -33.34 19.17 10.44     -33.34 4 Yr 1.71   -16.66 -2.11 52   -0.31
11.18 57 0.66 ################################## 50 -0.63 1/5/1900 49 0.17 4 Yr 10.23 -2.74
12.54 10.67 -1.92 4 Yr 14.55 -1.15 5.4 7.37 -0.23 4.12 6.83 -2.43
-1.36 8.23 -2.58 5.3 11.78 -0.52 -0.02 2.44 -0.4 1/5/1900 5.53 -0.83
4 Yr 7.17 0.11 6.35 10.43 0.04 5 Yr 1.67 -0.24 -1.67 4.45 -0.52
5.62 6.32 -0.71 -1.05 9.26 -0.26 5.35 1.13 -0.18 5 Yr 2.97 -0.16
6.11 4.71 -0.13 5 Yr 6.87 -0.04 1/5/1900 0.47 -0.06 4.09 3 Yr -0.37
-0.49 3 Yr 0.31 4.53 3 Yr -0.35 0.13 3 Yr 0.17 5.19 3 YR FUND 8.29 0.0829 -0.15
5 Yr 3 YR FUND 11.18 0.1118 -0.05 4.8 3 YR FUND 17.97 0.1797 -0.03 6 Yr 3 YR FUND 2.94 0.0294 -0.01 -1.1 UNIVERSE 88   -0.25
5.09 UNIVERSE 89 -0.04 -0.27 UNIVERSE 70 -0.08 1/6/1900 UNIVERSE 41 0.02 6 Yr POLICY 10.4 0.104 -0.91
5.24 POLICY 12.54 0.1254 0.01 6 Yr POLICY 19.17 0.1917 -0.53 1/6/1900 POLICY 2.93 0.0293 0.07 1.5 46   2.34
-0.15 59 1.62 ################################## 50 1.93 0.15 41 0.33 1/3/1900 14.22 5 Yr 5 Yr
6 Yr 17.52 5 Yr 5 Yr -0.3 24.14 5 Yr 5 Yr 7 Yr 11.82 5 Yr 5 Yr ################################ 11.67 # of Negative Qtrs
1/2/1900 14.55 # of Negative Qtrs -0.13 20.92 # of Negative Qtrs 1/5/1900 4.2 # of Negative Qtrs 7 Yr 10.13 # of Positive Qtrs
2.61 13.09 # of Positive Qtrs 7 Yr 19.06 # of Positive Qtrs 5.72 2.57 # of Positive Qtrs 3.62 9.02 Batting Average
0.17 11.93 Batting Average 1/1/1900 17.66 Batting Average 0.07 1.87 Batting Average 1/4/1900 7.74 Worst Qtr
7 Yr 10.59 Worst Qtr 2.07 15.25 Worst Qtr 8 Yr 1.15 Worst Qtr -0.56 4 Yr Best Qtr
1/3/1900 4 Yr Best Qtr ################################## 4 Yr Best Qtr 1/5/1900 4 Yr Best Qtr 8 Yr 4.12 Range
3.78 5.62 Range 8 Yr 5.3 Range 1/5/1900 5.38 Range 1/5/1900 74 Worst 4 Qtrs
-0.12 55 Worst 4 Qtrs 1/3/1900 73 Worst 4 Qtrs 0.13 28 Worst 4 Qtrs 1/4/1900 5.79 Standard Deviation
8 Yr 6.11 Standard Deviation 1/3/1900 6.35 Standard Deviation 9 Yr 10 Yr 5.4 Standard Deviation 1/0/1900 34 Beta
1/4/1900 43 Beta -0.94 48 Beta 12/31/1997 28 Beta 9 Yr 10 Yr 8.88 Annualized Alpha
1/5/1900 9.35 Annualized Alpha 9 Yr 10 Yr 10.86 Annualized Alpha Incept 9.9 Annualized Alpha 12/31/1997 6.48 R-Squared
-0.14 6.94 R-Squared 12/31/1997 7.66 R-Squared 5.98 5.57 R-Squared Incept 5.04 Sharpe Ratio
9 Yr 10 Yr 5.75 Sharpe Ratio Incept 6.21 Sharpe Ratio 5.84 4.44 Sharpe Ratio 1/6/1900 4.05 Treynor Ratio
12/31/1997 4.87 Treynor Ratio 4.6 5.16 Treynor Ratio 0.14 3.38 Treynor Ratio 5.45 2.68 Tracking Error
Incept 3.72 Tracking Error 1/5/1900 3.29 Tracking Error Fiscal Year Returns Ending September 2.2 Tracking Error 1/1/1900 5 Yr Information Ratio
5.95 5 Yr Information Ratio -0.92 5 Yr Information Ratio Fund 5 Yr Information Ratio Fiscal Year Returns Ending September 5 YR FUND 4.09 0.0409 Fund
1/5/1900 5 YR FUND 5.09 0.0509 Fund Fiscal Year Returns Ending September 5 YR FUND 4.53 0.0453 Fund LBAB 5 YR FUND 5.35 0.0535 Fund Fund UNIVERSE 50   7
-0.02 UNIVERSE 48 7 Fund UNIVERSE 65 6 Diff UNIVERSE 25 6 Policy POLICY 5.19 0.0519 13
Fiscal Year Returns Ending September POLICY 5.24 0.0524 13 Policy POLICY 4.8 0.048 14 3/31/2006 POLICY 5.22 0.0522 14 Diff 29   Batting Average 45
Fund 43 Batting Average 50 Diff 60 Batting Average 40 Qtr 28 Batting Average 50 3/31/2006 8.55 -5.61
Policy 8.79 -7.44 3/31/2006 11.75 -17.97 -0.44 8.19 -2.27 Qtr 5.4 6.85
Diff 6.05 8.62 Qtr 6.54 14.93 ################################## 5.33 5.39 1.61 4.07 12.46
3/31/2006 5.02 16.06 4.89 5.11 32.9 0.2 4.39 7.66 2.13 2.86 -7.44
Qtr 4.1 -9.47 5.74 3.96 -25.12 2006 3.6 0.09 -0.52 1.24 Standard Deviation 7.22
3.11 2.8 Standard Deviation 8.1 -0.85 1.87 Standard Deviation 16.7   YTD 2.55 Standard Deviation 3.94 2006 6 Yr Beta 0.89
3.16 6 Yr Beta 0.84 6/28/1905 6 Yr Beta 0.98   0.14 6 Yr Beta 0.95   YTD 1.5 Annualized Alpha -0.53 -0.0053
-0.05 2.78 Annualized Alpha 0.62 0.0062 YTD -0.43 Annualized Alpha -0.19 -0.0019 -0.05 6.53 Annualized Alpha 0.4 0.004 3.84 50 R-Squared 0.93  
2006.00 39 R-Squared 0.98 8.09 58 R-Squared 0.99 0.19 18 R-Squared 0.99 1/3/1900 3.28 0.27
YTD 2.61 0.36 1/7/1900 -0.3 0.14 2005 6.38 0.81 0.29 27 2.19
5.37 44 3.51 1/0/1900 56 2.44 1/2/1900 20 3.38 2005 7.99 2.1
4.56 7.72 1.93 2005 9.02 1.77 2.8 7.72 0.42 8.74 3.35 -0.52
0.81 3.84 -0.08 12.84 2.51 -0.15 0.15 6.14 0.31 1/7/1900 1.41 Policy Policy
2005 2.32 Policy Policy 13.21 0.16 Policy Policy 2004 5.4 Policy LBAB 1.35 -0.12 7
9 0.99 6 -0.37 -1.47 6 3.36 4.52 7 2004 -2.31 13
9.06 -1.51 14 2004 -5.17 14 1/3/1900 3.33 13 3.59 7 Yr 55
-0.06 7 Yr 50 12.55 7 Yr 60 -0.32 7 Yr 50 8.81 3.62 -6.08
2004 3.66 -9.11 15.46 1.13 -17.68 2003 5.79 -2.44 -5.22 45 9.59
7.95 51 10.54 -2.91 79 16.08 5.52 17 5.88 2003 4.18 15.67
10.73 3.78 19.65 2003 2.07 33.76 5.44 5.72 8.32 12.61 38 -6.91
-2.78 48 -11.04 24.55 63 -24.41 0.08 18 0.33 16.1 9.24 Standard Deviation 7.79
2003 9.42 Standard Deviation 9.53 24.8 11.45 Standard Deviation 16.86 2002 6.85 Standard Deviation 4.14 -3.49 5.07 1
14.37 4.91 1 -0.25 4.29 1 9.39 5.46 1 2002 3.33 0
17.04 3.69 0 2002 2.62 0 9.11 4.8 0 -5.61 2.17 1
-2.67 2.85 1 -19.84 1.38 1 0.28 4.15 1 -6.21 0.45 0.39
2002 1.53 0.33 -19.57 -0.84 0.16 2001 3.29 0.74 0.6 8 Yr 3.05
-7.32 8 Yr 3.1 -0.27 8 Yr 2.66 13.48 8 Yr 3.08 2001 5.79 0
-8.77 4.89 0 6/23/1905 3.05 0 1/13/1900 5.95 0 -13.1 15 Diff
1.45 36 Diff -26 74 Diff 0.07 10 Diff -8.19 4.95 0
6/23/1905 5.03 1 -26.85 3.99 0 2000 5.82 -1 ################################ 26 0
-9.99 31   -1 0.85 49   0 6.57 13   1 2000 7.55   -10
-12.48 7.5 0 2000 8.8 -20 6.72 6.33 0 17.54 4.96 0.47
2.49 5.25   1.67 8.31 5.31   -0.29 -0.15 5.38   0.17 10.29 4.06   -2.74
2000 4.38 -1.92 11.3 3.97 -1.15 1999 4.84 -0.49 7.25 2.99 -3.21
9.62 3.63 -3.59 -2.99 2.95 -0.86 ################################## 4.23 -0.66 1999 1.22 -0.53
9.76 2.29 1.57 1999 0.93 -0.71 -1.48 3.31 -0.24 19.87 Fiscal Year Returns Ending September -0.57
-0.14 Fiscal Year Returns Ending September -1.43 1/20/1900 Fiscal Year Returns Ending September -0.16 0.38 Fiscal Year Returns Ending September -0.2 1/6/1900 Fund -0.11
1999 Fund -0.16 27.81 Fund -0.02 1998 1997 Fund -0.05 13.1 Return -0.53
1/13/1900 Return   0.62 -6.91 Return   -0.19 Returns in Up Markets Return   0.4 1998 1997 %-tile   -0.07
15.47 %-tile -0.02 1998 1997 %-tile -0.01 Fund %-tile -0.01 Returns in Up Markets Policy -0.12
-2.23 Policy   0.03 Returns in Up Markets Policy   -0.02 LBAB LBAB   0.07 Fund Return   -0.86
1998 1997 Return 0.41 Fund Return -0.22 Ratio Return 0.3 Policy %-tile 2.1
Returns in Up Markets %-tile 1.93 Policy QU. FUND %-tile 1.77 3 Yr %-tile 0.42 Ratio Universe   8 Yr
Fund Universe 8 Yr Ratio UNIVERSE Universe 8 Yr 7.4 Universe 8 Yr 3 Yr 5th %-tile # of Negative Qtrs
Policy 5th %-tile # of Negative Qtrs 3 Yr POLICY 5th %-tile # of Negative Qtrs 7.7 5th %-tile # of Negative Qtrs 1/10/1900 25th %-tile   # of Positive Qtrs
Ratio 25th %-tile # of Positive Qtrs 24.1 25th %-tile # of Positive Qtrs 95.2 25th %-tile # of Positive Qtrs 13.4 QU. FUND 50th %-tile Batting Average
3 Yr QU. FUND 50th %-tile Batting Average 1/25/1900 50th %-tile Batting Average 5 Yr QU. FUND 50th %-tile Batting Average 81.4 UNIVERSE 75th %-tile Worst Qtr
14 UNIVERSE 75th %-tile Worst Qtr 94.9 75th %-tile Worst Qtr 9.7 UNIVERSE 75th %-tile Worst Qtr 5 Yr POLICY 95th %-tile Best Qtr
1/16/1900 POLICY 95th %-tile Best Qtr 5 Yr 95th %-tile Best Qtr 9.8 POLICY 95th %-tile Best Qtr 1/12/1900 Qtr Range
87.5 Qtr Range 25 Qtr Range 98.5 Qtr Range 14.8 1.61 0.0161 Worst 4 Qtrs
5 Yr 3.11 0.0311 Worst 4 Qtrs 1/25/1900 4.89 0.0489 Worst 4 Qtrs 8 Yr -0.44 -0.0044 Worst 4 Qtrs 84.6 71 Standard Deviation
13.9 59 Standard Deviation 98.9 71 Standard Deviation 10 66 Standard Deviation 8 Yr 2.13 0.0213 Beta
1/16/1900 3.16 0.0316 Beta 8 Yr 5.74 0.0574 Beta 10.1 -0.64 -0.0064 Beta 1/16/1900 46   Annualized Alpha
87.4 57 Annualized Alpha 27.5 41 Annualized Alpha 98.6 80 Annualized Alpha 13.5 4.58 R-Squared
8 Yr 5.2 R-Squared 29.4 7.88 R-Squared 12/31/1997 2.7 R-Squared 119 2.58 Sharpe Ratio
16.5 3.96 Sharpe Ratio 93.5 6.26 Sharpe Ratio Incept 0.68 Sharpe Ratio 12/31/1997 2.01 Treynor Ratio
18.1 3.31 Treynor Ratio 12/31/1997 5.47 Treynor Ratio 9.8 -0.14 Treynor Ratio Incept 1.5 Tracking Error
90.9 2.8 Tracking Error Incept 4.73 Tracking Error 9.9 -0.58 Tracking Error 1/17/1900 0.4 Information Ratio
12/31/1997 1.75   Information Ratio 29.2 3.66   Information Ratio 98.9 -1.21   Information Ratio 13.9 YTD   Fund
Incept YTD Fund 31.1 YTD Fund Returns in Down Markets YTD Fund 5/3/1900 3.84 12
17.7 5.37   12 94.1 8.09 12 Fund 0.14   9 Returns in Down Markets 56   20
19.1 32 20 Returns in Down Markets 38 20 LBAB 61 23 Fund 3.55 53.13
92.8 4.56 56.25 Fund 7.69 40.63 Ratio -0.05 50 Policy 68   -7.29
Returns in Down Markets 62 -7.44 Policy 49 -17.97 3 Yr 71 -2.27 Ratio 7.78 14.62
Fund 7.35 12.53 Ratio 10.84   19.75 -3 3.75 5.39 3 Yr 4.68   21.91
Policy 5.65 19.97 3 Yr 8.63 37.72 -3.5 1.32 7.66 ################################ 2004 FUND 3.95 0.0395 -13.1
Ratio 2004 FUND 4.8 0.048 -9.99 -4.4 2004 FUND 7.67 0.0767 -26 85.9 2004 FUND 0.4 0.004 -1.19 -1.8 UNIVERSE 3.25 9.4
3 Yr UNIVERSE 4.27 8.85 ################################## UNIVERSE 6.89 16.9 5 Yr UNIVERSE -0.12 3.94 113.1 POLICY 2.43 0.0243 1.15
-1 POLICY 3.39 0.0339 0.88 4/19/1900 POLICY 5.41 0.0541 0.94 -2.3 POLICY -0.77 -0.0077 0.95 5 Yr 2005   0.2
############################## 2005 0.4 0.004 5 Yr 2005 -0.7   -2.9 2005 0.39 0.0039 ################################ 8.74 0.79 0.0079
2/27/1900 9   0.97 -31.2 12.84 0.97 79.4 2.95 0.98 ################################ 48   0.26
5 Yr 63 0.18 ################################## 69 -0.02 8 Yr 36 0.67 94.1 7.39 2.16
-13 9.06 1.8 100.8   13.21   -0.28 -2.4 2.8   2.78 8 Yr 71   4.44
############################## 62 1.94 8 Yr   64 3.31 -3 40 0.56 ################################ 14.77 0.19
80.7 14.35 -0.07 -27.7   19.9   -0.28 78 7.26   0.23 -9.6 10.77   Policy
8 Yr 11.43 Policy -27.8 16.45 Policy 12/31/1997 3.57 LBAB 117.8 2003 FUND 8.59 0.0859 11
-11.9 2003 FUND 9.55 0.0955 12 99.8 2003 FUND 14.03 0.1403 12 Incept 2003 FUND 2.54 0.0254 10 12/31/1997 UNIVERSE 6.95 21
-13.6 UNIVERSE 8.44 20 12/31/1997 UNIVERSE 12.19 20 -2.4 UNIVERSE 1.72 22 Incept POLICY 5.14 0.0514 46.87
87.2 POLICY 6.71 0.0671 43.75 Incept POLICY 9.09 0.0909 59.37 -3 POLICY 0.86 0.0086 50 -11.4 2004   -6.08
12/31/1997 2004 -9.11 -27.7 2004 -17.68 78 2004 -2.44 -9.6 3.59 9.59
Incept 7.95   12.55 -27.8 12.55 21.3 3.36 5.88 117.8 90   15.67
-11.9 86 21.66 99.8 70 38.98 45 8.32 8.81 -8.19
-13.6 10.73 -12.48 15.46   -26.85 3.68   -2.05 17   7.25
87.2 42 9.84 34 17.75 38 4.09 10.71 1
14.67 1 20.79   1 12.2   1 8.02   0
12.07 0 16.47 0 4.61 0 2002 FUND 6.45 0.0645 1
2002 FUND 10.24 0.1024 1 2002 FUND 14.34 0.1434 1 2002 FUND 3.13 0.0313 1 UNIVERSE 4.97 0.23
UNIVERSE 8.89 0.17 UNIVERSE 11.86 0.04 UNIVERSE 1.77 0.61 POLICY 2.9 0.029 1.64
POLICY 6.65 0.0665 1.72 POLICY 8.51 0.0851 0.68 POLICY 0.72 0.0072 2.51 2003   0
2003 0 2003 0 2003 0 12.61 Diff
14.37   Diff 24.55 Diff 5.52 Diff 81   1
84 0 36 0 41 -1 16.1 -1
17.04 0 24.8   0 5.44   1 37   6.26
45 12.5 33 -18.74 42 0 23.83 -1.21
25.85 1.67 28.9   -0.29 26.81   0.17 17.25   5.03
19.19 -0.02 25.29 -1.55 7.58 -0.49 2001 FUND 15 0.15 6.24
2001 FUND 16.58 0.1658 -1.69 2001 FUND 23.71 0.2371 -1.26 2001 FUND 4.69 0.0469 -0.66 UNIVERSE 13.07 -4.91
UNIVERSE 15.1 2.49 UNIVERSE 21.4 0.85 UNIVERSE 2.87 0.86 POLICY 11.21 0.1121 2.15
POLICY 12.52 0.1252 -0.99 POLICY 18.3 0.183 -0.85 POLICY 1.6 0.016 -0.15 2002   0.15
2002 -0.12 2002 -0.06 2002 -0.05 -5.61 0.2
-7.32   0.4 -19.84 -0.7 9.39 0.39 30   -0.21
32 -0.03 76 -0.03 9 -0.02 -6.21 0.03
-8.77 0.01 -19.57   -0.06 9.11   0.06 37   0.52
55 0.08 73 -0.96 10 0.27 0.33 4.44
-1.52 1.94 -6.44   3.31 10.2   0.56 -4.93   Incept
-6.75 Incept -14.81 Incept 7.74 Incept 2000 FUND -7.24 -0.0724 # of Negative Qtrs
2000 FUND -8.52 -0.0852 # of Negative Qtrs 2000 FUND -17.94 -0.1794 # of Negative Qtrs 2000 FUND 6.13 0.0613 # of Negative Qtrs UNIVERSE -9.31 # of Positive Qtrs
UNIVERSE -9.86 # of Positive Qtrs UNIVERSE -19.74 # of Positive Qtrs UNIVERSE 4.06 # of Positive Qtrs POLICY -13.63 -0.1363 Batting Average
POLICY -13.4 -0.134 Batting Average POLICY -22.45 -0.2245 Batting Average POLICY -4.43 -0.0443 Batting Average 2001 Worst Qtr
2001 Worst Qtr 2001 Worst Qtr 2001 Worst Qtr -13.1 Best Qtr
-9.99 Best Qtr -26 Best Qtr 13.48 Best Qtr 45 Range
33 Range 44 Range 9 Range -8.19 Worst 4 Qtrs
-12.48 Worst 4 Qtrs -26.85 Worst 4 Qtrs 13.41 Worst 4 Qtrs 18 Standard Deviation
53 Standard Deviation 50 Standard Deviation 10 Standard Deviation -3.02 Beta
-0.67 Beta -3.15 Beta 13.98 Beta -9.6 Annualized Alpha
-8.07 Annualized Alpha -20.61 Annualized Alpha 12.52 Annualized Alpha -13.85 R-Squared
-12.21 R-Squared -26.94 R-Squared 11.24 R-Squared -18.12 Sharpe Ratio
-16.43 Sharpe Ratio -30.49 Sharpe Ratio 9.07 Sharpe Ratio -27.09 Treynor Ratio
-24.13 Treynor Ratio -40.98 Treynor Ratio -11.92 Treynor Ratio 2000 Tracking Error
2000 Tracking Error 2000 Tracking Error 2000 Tracking Error 17.54 Information Ratio
9.62 Information Ratio 8.31 Information Ratio 6.57 Information Ratio 45 Fund
64 Fund 80 Fund 24 Fund 10.29 12
9.76 12 11.3 12 6.72 9 86 21
63 21 63 21 20 24 38.27 54.55
30.85 57.58 43 42.42 7.97 51.52 24.13 -7.29
15.05 -7.44 18.84 -17.97 6.53 -2.27 16.69 14.62
10.84 12.53 12.92 19.75 5.96 5.39 12.52 21.91
8.46 19.97 9.44 37.72 5.16 7.66 6.29 -13.1
3.85 -9.99 2.05   -26 -0.46 -1.19 1999 9.69
1999 9.2 1999 17.22 1999 3.88 19.87 1.19
13.24 0.9 20.9   0.94 -1.1 0.95 11 0.48
70 0.53 72 -0.59 68 0.4 6.77 0.79
15.47 0.97 27.81 0.97 -1.48 0.98 82 0.36
61 0.28 36 0.07 72 0.67 27.6 2.92
30.03 2.87 39.87   1.31 7.11 2.75 14.07 4.63
19.71 1.94 30.1 3.27 2.41 0.55 10.9 0.3
16.49 -0.01 26.99   -0.28 0.41 0.25 7.92 Policy
11.78 Policy 19.81 Policy -1.8 LBAB 1.3 11
3.33 12 6.7 12 -4.55 10 1998 22
1998 21 1998 21 1998 23 12.88 45.45
11.03 42.42 11.24 57.58 15.8 48.48 9.66 -6.08
7.72 -9.11 8.49 -17.68 10.74 -2.44 6.94 9.59
4.97 12.55 3.44 21.3 8.67 5.88 2.87 15.67
0.76 21.66 -3.84 38.98 6.54 8.32 -3.7 -8.19
-7.7 -12.48 -18.77 -26.85 -3.43 -2.05 7.27
10.03 18 4.03 1
1 1 1 0
0 0 0 1
1 1 1 0.29
0.26 0.12 0.61 2.08
2.6 2.15 2.47 0
0 0 0 Diff
Diff Diff Diff 1
0 0 -1 -1
0 0 1 9.1
15.16 -15.16 3.04 -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 2.42
-0.83 -0.78 -0.15 0.19
-0.1 -0.06 -0.05 0.48
0.53 -0.59 0.4 -0.21
-0.03 -0.03 -0.02 0.07
0.02 -0.05 0.06 0.84
0.27 -0.84 0.28 4.63
1.94 3.27 0.55 5.08