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 Universe 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 Executive Summary Universe Comparisons Risk Measures
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 Inception date is December 31, 1997 55% Broad Large Cap Core Equity, 45% Broad FI 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 December 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, 1997 to December 31, 2004 Batting Average Returns are gross of fees. Incept is December 31, 1997 to September 30, 2004 Batting Average
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 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 Policy Standard Deviation Ending Value Policy Standard Deviation Ending Value LBAB Standard Deviation Ending Value Policy Standard Deviation
12/31/2004 Return Beta 12/31/2004 Return Beta 12/31/2004 Return Beta 9/30/2004 Return Beta
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
40,239 Universe R-Squared 24,985 Universe R-Squared 13,973 Universe R-Squared 19,038 Universe R-Squared
55 5th %-tile Sharpe Ratio 578 5th %-tile Sharpe Ratio -875 5th %-tile Sharpe Ratio -308 5th %-tile Sharpe Ratio
2,786 25th %-tile Treynor Ratio 2,665 25th %-tile Treynor Ratio 113 25th %-tile Treynor Ratio -338 25th %-tile Treynor Ratio
43,079 50th %-tile Tracking Error 28,229 50th %-tile Tracking Error 13,210 50th %-tile Tracking Error 18,391 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
39,487 2 Qtrs 5 21,268   2 Qtrs   4 15,094   2 Qtrs   3 19,572 2 Qtrs 5
319 6.01   7 4,286   7.32   8 -2,464   3.84 9 -942 -1.89   7
3,273 54 50 2,676   63   33.33 580   44   41.67 -240 73 41.67
43,079 6.66   -7.44 28,229 8.22   -17.97 13,210 4.18 -2.27 18,391 -0.02   -5.61
12/31/1997 35 8.62 12/31/1997 37 14.93 12/31/1997 36 5.39 12/31/1997 45 6.85
Incept 9.18 16.06 Incept 11.36 32.9 Incept 9.39 7.66 Incept 2.27 12.46
15,998 7.23 -9.47 10,999 9 -25.12 4,811 4.91 0.09 15,998 0.58 -7.44
13,436 6.11 9.24 10,586 7.78 18.69 1,635 3.61 4.04 -5,825 -0.3 7.51
13,645 5.23 0.86 6,643     6.69 1 6,764     2.1 0.95 8,218 -2.07 0.83
43,079  43,079,000 3.64 0.23 28,229   28,229,000 4.58 -0.68 13,210   13,210,000 0.84 0.25 18,391  18,391,000 -5.49 -1.54
Investment Policy 3 Qtrs 0.98 Investment Policy 3 Qtrs 0.99 Investment Policy 3 Qtrs 0.99 Investment Policy 3 Qtrs 0.95
Index 6 0.43 Index 8.77 0.16 Index 1.49 1.24 Index -1.27 0.25
S&P 500 57 4.58 S&P 500 60 2.91 Lehman Aggregate Bond 47 5.27 S&P 500 86 2.23
Lehman Aggregate Bond 6.63 1.99 Russell 2000 Value 9.94 1.56 Total 1.64 0.47 Lehman Gov/Credit-Intermediate 2.04 2.23
Russell 2000 Value 38 -0.27 Total 29 -0.47 Weight 43 -0.15 Total 48 -1.14
Total 9.59 Policy Weight 12.5 Policy 100 8.78 LBAB Weight 7.52 Policy
Weight 7.28 4 83.3 10.23 4 100 2.52 3 55 3.62 5
50 6.19 8 16.7 9.22 8 Trailing Returns through December 31, 2004 1.36 9 45 1.88 7
40 5.23 50 100 7.82 66.67 Fund 0.54 58.33 100 0.27 58.33
10 3.72 -9.11 Trailing Returns through December 31, 2004 5.78 -17.68 LBAB -0.32 -2.44 Trailing Returns through September 30, 2004 -3.72 -6.08
100 1 Yr 10.54 Fund   1 Yr   16.08 Diff   1 Yr   5.88 Fund 1 Yr 9.59
Trailing Returns through December 31, 2004 1 Yr FUND 8.21 0.0821 19.65 Policy 1 Yr FUND 11.07 0.1107 33.76 1 Yr 1 Yr FUND 4.09 0.0409 8.32 Policy 1 Yr FUND 3.59 0.0359 15.67
Fund UNIVERSE 59 -11.04 Diff UNIVERSE 63 -24.41 4.09 UNIVERSE 41 0.33 Diff UNIVERSE 84 -6.91
Policy POLICY 9.14 0.0914 10.68 1 Yr POLICY 12.3 0.123 18.64 4.34 POLICY 4.34 0.0434 4.23 1 Yr POLICY 8.81 0.0881 8.81
Diff 38 1 11.07 42 1 -0.25 36 1 3.59 55 1
1 Yr 12.84 0 12.3 16.58 0 2 Yr 10.91 0 8.81 21.62 0
8.21 10.01 1 -1.23 13.46 1 4.11 5.09 1 -5.22 14.25 1
9.14 8.55 0.42 2 Yr 11.86 0.2 4.22 3.7 1.2 2 Yr 9.46 0.5
-0.93 7.4 4.48 19.85 10.08 3.64 -0.11 2.1 5.08 8 5.51 4.4
2 Yr 5.35 0 21.02 7.1 0 3 Yr 0.87 0 12.39 0.93 0
12.45 2 Yr Diff -1.17 2 Yr Diff 1/6/1900 2 Yr Diff -4.39 2 Yr Diff
14.18 12.45   1 3 Yr 19.85     0 6.42 4.11   0 3 Yr 8   0
-1.73 79 -1 4.25 64   0 -0.07 41 0 3.26 80 0
3 Yr 14.18   0 4.98 21.02     -33.34 4 Yr 4.22   -16.66 5.81 12.39   -16.66
5.28 47 1.67 ################################## 44 -0.29 1/6/1900 40 0.17 -2.55 56 0.47
5.82 20.55 -1.92 4 Yr 25.32 -1.15 6.92 18.5 -0.49 4 Yr 26.19 -2.74
############################## 15.78 -3.59 -0.17 22.44 -0.86 0.04 5.74 -0.66 ################################ 18.87 -3.21
4 Yr 13.99 1.57 0.03 20.54 -0.71 5 Yr 3.63 -0.24 2.12 13.51 -0.53
3.05 12.61 -1.44 -0.2 18.94 0.05 7.8 2.25 -0.19 -3.22 8.55 -1.3
3.07 10.68 -0.14 5 Yr 16.24 0 1/7/1900 1.13 -0.05 5 Yr 1.76 -0.17
-0.02 3 Yr 0.23 -1.53 3 Yr -0.68 -0.1 3 Yr 0.25 2.38 3 Yr -1.54
5 Yr 3 YR FUND 5.28 0.0528 -0.02 -2.03 3 YR FUND 4.25 0.0425 -0.01 6 Yr 3 YR FUND 6.35 0.0635 -0.01 3.71 3 YR FUND 3.26 0.0326 -0.05
2.58 UNIVERSE 46 0.01 0.5 UNIVERSE 66 -0.04 1/6/1900 UNIVERSE 29 0.04 -1.33 UNIVERSE 70 -0.25
2.13 POLICY 5.82 0.0582 0.1 6 Yr POLICY 4.98 0.0498 -0.73 1/6/1900 POLICY 6.42 0.0642 0.19 6 Yr POLICY 5.81 0.0581 -2.17
0.45 36 1.99 1/0/1900 51 1.56 0.07 28 0.47 1/5/1900 51 2.23
6 Yr 9.09 5 Yr 5 Yr 1.49 9.21 5 Yr 5 Yr 7 Yr 11.72 5 Yr 5 Yr 1/4/1900 14.01 5 Yr 5 Yr
1/3/1900 6.51 # of Negative Qtrs -1.37 6.64 # of Negative Qtrs 1/6/1900 6.67 # of Negative Qtrs 1/0/1900 9.5 # of Negative Qtrs
3.63 5.08 # of Positive Qtrs 7 Yr 5.01 # of Positive Qtrs 6.65 5.26 # of Positive Qtrs 7 Yr 8 Yr 9 Yr 10 Yr 5.85 # of Positive Qtrs
-0.33 3.87 Batting Average 1/4/1900 3.61 Batting Average 0.1 3.94 Batting Average 12/31/1997 2.49 Batting Average
7 Yr 2.4 Worst Qtr 4.97 1.03 Worst Qtr 8 Yr 9 Yr 10 Yr 2.05 Worst Qtr Incept -1.28 Worst Qtr
1/5/1900 4 Yr Best Qtr ################################## 4 Yr Best Qtr 12/31/1997 4 Yr Best Qtr 1/6/1900 4 Yr Best Qtr
5.99 3.05 Range 8 Yr 9 Yr 10 Yr -0.17 Range Incept 6.96 Range 5.03 -1.1 Range
############################## 39 Worst 4 Qtrs 12/31/1997 59 Worst 4 Qtrs 6.75 25 Worst 4 Qtrs 1/1/1900 69 Worst 4 Qtrs
8 Yr 9 Yr 10 Yr 3.07 Standard Deviation Incept 0.03 Standard Deviation 6.65 6.92 Standard Deviation Calendar Year Returns 2.12 Standard Deviation
12/31/1997 39 Beta 4 56 Beta 0.1 25 Beta Fund 51 Beta
Incept 5.91 Annualized Alpha 4.97 5.9 Annualized Alpha Calendar Year Returns 10.43 Annualized Alpha Policy 10.9 Annualized Alpha
5.96 3.63 R-Squared -0.97 2 R-Squared Fund 6.88 R-Squared Diff 5.79 R-Squared
5.99 2.5 Sharpe Ratio Calendar Year Returns 0.24 Sharpe Ratio LBAB 5.76 Sharpe Ratio 9/30/2004 2.17 Sharpe Ratio
-0.03 1.41 Treynor Ratio Fund -1.2 Treynor Ratio Diff 4.74 Treynor Ratio Qtr -2.3 Treynor Ratio
Calendar Year Returns -0.17 Tracking Error Policy -3.74 Tracking Error 12/31/2004 3.07 Tracking Error ################################ -9.09 Tracking Error
Fund 5 Yr Information Ratio Diff 5 Yr Information Ratio Qtr 5 Yr Information Ratio 0.19 5 Yr Information Ratio
Policy 5 YR FUND 2.58 0.0258 Fund 12/31/2004 5 YR FUND -1.53 -0.0153 Fund 0.85 5 YR FUND 7.8 0.078 Fund ################################ 5 YR FUND 2.38 0.0238 Fund
Diff UNIVERSE 28 9 Qtr UNIVERSE 46 9 0.95 UNIVERSE 14 3 2004 UNIVERSE 69 9
12/31/2004 POLICY 2.13 0.0213 11 10.73 POLICY -2.03 -0.0203 11 -0.1 POLICY 7.9 0.079 17 YTD POLICY 3.71 0.0371 11
Qtr 35 Batting Average 65 1/9/1900 53 Batting Average 45 2004 12 Batting Average 45 -1.27 55 Batting Average 50
6.92 5.05 -7.44 0.83 4.79 -17.97 YTD 9.04 -2.27 2.04 10.92 -7.29
6.28 2.75 8.62 2004 0.03 14.93 1/4/1900 7.26 5.39 -3.31 6.78 10.46
0.64 1.46 16.06 YTD -1.87 32.9 4.34 6.44 7.66 2003 4.15 17.75
2004 0.44 -9.99 11.07 -3.4 -26 -0.25 5.18 0.09 13.64 1.27 -13.1
YTD -1.3 Standard Deviation 8.73 12.3 -6.21 Standard Deviation 18.06   6/25/1905 3.5 Standard Deviation 3.85 17.65 -3.82 Standard Deviation 9.21
8.21 6 Yr Beta 0.85 ################################## 6 Yr Beta 1   4.13 6 Yr Beta 0.94   -4.01 6 Yr Beta 1.02
9.14 3.3 Annualized Alpha 0.69 0.0069 2003 0.12 Annualized Alpha 0.52 0.0052 4.11 6.25 Annualized Alpha 0.34 0.0034 2002 5.1 Annualized Alpha -1.3 -0.013
############################## 51 R-Squared 0.98 29.32 83 R-Squared 0.99 0.02 18 R-Squared 0.98 ################################ 52 R-Squared 0.88
2003 3.63 -0.02 1/30/1900 1.49 -0.24 2002 6.18 1.3 -6.27 4.21 -0.06
16.85 41 -0.25 ################################## 57 -4.32 1/10/1900 19 5.33 -0.13 68 -0.57
19.45 6.79 1.95 2002 7.18 1.84 10.95 7.3 0.59 2001 10.98 3.25
############################## 4.34 0.23 -21.11 3.49 0.27 0.03 5.92 -0.17 ################################ 7.19 -0.41
2002 3.32 Policy Policy -21 1.83 Policy Policy 2001 5.26 Policy LBAB -1.65 5.27 Policy Policy
-7.7 2.52 9 -0.11 0.58 9 8.79 4.58 4 -2.81 3.6 9
-9.09 0.98 11 2001 -1.7 11 1/8/1900 3.58 16 2000 0.78 11
1.39 7 Yr 35 -12.36 7 Yr 55 0.36 7 Yr 55 1.47 7 Yr 50
2001 5.96 -9.11 -13.47 4 -17.68 2000 6.75 -2.44 1.22 8.49 -6.08
-3.37 19 10.54 1.11 66 16.08 11.24 10 5.88 0.25 5.95 9.59
-4.78 5.99 19.65 2000 4.97 33.76 11.95 6.65 8.32 1999 4.21 15.67
1.41 19 -12.48 -6.79 41 -26.85 -0.71 11 0.33 15.52 2.55 -8.19
2000 7.29 Standard Deviation 10.11 -9.85 7.79 Standard Deviation 18.02 1999 7.15 Standard Deviation 4.04 7.59 -0.51 Standard Deviation 8.46
0.7 5.77 1 3.06 5.61 1 -1.19 6.09 1 7.93 8 Yr 1
-1.52 5.1 0 1999 4.59 0 -2.05 5.51 0 1998 9.02 0
2.22 4.34 1 8.77 3.35 1 0.86 4.78 1 29.92 7.03 1
1999 2.81 -0.07 21.04 1.16 -0.27 1998 3.63 1.26 15.57 5.57 0.09
6.98 8 Yr -0.66 -12.27 8 Yr -4.82 9.83 8 Yr 5.11 14.35 4.24 0.75
11.44 8.92 0 6/20/1905 10.69 0 1/9/1900 7.49 0 1997 1996 1995 1.75 0
-4.46 7.72 Diff 30.71 8.55