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% Brd. LC Growth Conservative Eq., 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 net of fees. Incept is December 31, 1997 to March 31, 2007 Batting Average
Returns are net of fees. Incept is December 31, 1997 to March 31, 2007 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2007 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2007 Batting Average Account Reconciliation Trailing Returns through March 31, 2007 Worst Qtr
Account Reconciliation Trailing Returns through March 31, 2007 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2007 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2007 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 3/31/2007 Return Beta
3/31/2007 Return Beta 3/31/2007 Return Beta 3/31/2007 Return Beta Qtr %-tile Annualized Alpha
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha 22,064 Universe R-Squared
49,420 Universe R-Squared 30,765 Universe R-Squared 17,583 Universe R-Squared -5,699 5th %-tile Sharpe Ratio
136 5th %-tile Sharpe Ratio -5,999 5th %-tile Sharpe Ratio 129 5th %-tile Sharpe Ratio 431 25th %-tile Treynor Ratio
806 25th %-tile Treynor Ratio 566 25th %-tile Treynor Ratio 321 25th %-tile Treynor Ratio 16,797 50th %-tile Tracking Error
50,361 50th %-tile Tracking Error 25,332 50th %-tile Tracking Error 18,032 50th %-tile Tracking Error 2,007 75th %-tile Information Ratio
2007 75th %-tile Information Ratio 2007 75th %-tile Information Ratio 2007 75th %-tile Information Ratio YTD 95th %-tile Fund
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund 21,262 3 Qtrs 4
47,765 3 Qtrs 4 28,972   3 Qtrs   3 16,893   3 Qtrs   5 -5,335 6.86 8
-124 9.08   8 -5,998   11.86   9 646   6.29 7 869 77   33.33
2,721 75 33.33 2,358   71   33.33 493   33   41.67 16,797 10.04 -2.32
50,361 10.74   -1.7 25,332 13.47   -3.08 18,032 6.67 -2.27 35,795 11   6.49
12/31/1997 28 6.82 12/31/1997 33 10.79 12/31/1997 25 3.42 Incept 10.52 8.81
Incept 12.29 8.52 Incept 15.76 13.87 Incept 10.6 5.69 15,998 9.38 2.13
15,998 10.82 3.58 10,999 13.87 4.95 4,811 6.66 -0.36 -10,428 8.31 5.03
14,674 9.87 4.96 2,269 12.73 7.8 5,158 5.4 2.92 11,227 7 1.16
19,689 9.04 1 12,063     11.62 0.99 8,064     4.62 0.9 16,797  16,797,000 4.78 -2.96
50,361  50,361,000 7.67 -1.27 25,332   25,332,000 9.17 -1.24 18,032   18,032,000 3.66 0.31 Investment Policy     1 Yr 0.83
Investment Policy 1 Yr 0.9 Investment Policy 1 Yr 0.93 Investment Policy 1 Yr 0.99 Index 4.38 0.0438 0.25
Index 7.22 0.0722 0.64 Index 9.12 0.0912 0.77 Index 6.2 0.062 -0.02 S&P 500 69 1.09
S&P 500 79 3.17 S&P 500 73 6.07 Lehman Aggregate Bond 33 -0.06 Lehman Gov/Credit-Intermediate 9.29 0.0929 2.2
Lehman Aggregate Bond 9.62 0.0962 1.55 Russell 2000 Value 11.6 0.116 2.13 Total 6.58 0.0658 0.41 Total 7 -0.95
Russell 2000 Value 28 -0.86 Total 31 -0.69 Weight 25 -0.05 Weight 9.58 Policy
Total 11.82 Policy Weight 15 Policy 100 10.51 LBAB 55 7.48 3
Weight 9.8 3 83.3 12.16 3 100 6.51 5 45 6.1 9
50 8.6 9 16.7 10.52 9 Trailing Returns through March 31, 2007 5.46 7 100 3.76 66.67
40 7.48 66.67 100 8.67 66.67 Fund 4.74 58.33 Trailing Returns through March 31, 2007 1.1 -1.56
10 4.65 -1.64 Trailing Returns through March 31, 2007 3.98 -2.45 LBAB 3.89 -2.44 Fund 2 Yr 5.22
100 2 Yr 6.28 Fund   2 Yr 9.9 Diff   2 Yr   3.81 Policy 1 Yr FUND 5.88 0.0588 6.78
Trailing Returns through March 31, 2007 1 Yr FUND 7.55   7.92 Policy 1 Yr FUND 10.34   12.35 1 Yr 1 Yr FUND 4.38 0.0438 6.25 Diff UNIVERSE 77   3.48
Fund UNIVERSE 91 4.02 Diff UNIVERSE 88 4.91 6.2 UNIVERSE 41 -0.81 1 Yr POLICY 8.32 0.0832 3.94
Policy POLICY 9.36   4.69 1 Yr POLICY 12.65   7.56 6.58 POLICY 4.4 0.044 3.24 4.38 15   1
Diff 41 1 9.12 37 1 -0.38 40 1 9.29 9.52 0
1 Yr 11.93 0 11.6 15.47 0 2 Yr 8.99 0 -4.91 7.54 1
7.22 9.99 1 -2.48 13.22 1 4.38 5.11 1 2 Yr 6.86 0.86
9.62 9.07 0.96 2 Yr 12.19 0.99 4.4 4.14 -0.01 5.88 5.96 3.37
-2.4 8.39 4.5 10.34 11.34 7.48 -0.02 3.61 -0.03 8.32 3.09 0
2 Yr 7.21 0 12.65 9.56 0 3 Yr 2.79 0 -2.44 3 Yr Diff
7.55 3 Yr Diff -2.31 3 Yr Diff 1/3/1900 3 Yr Diff 3 Yr 4.61 0.0461 1
9.36 6.51 0.0651 1 3 Yr 9.35 0.0935   0 3.31 3.29 0.0329 0 4.61 66   -1
-1.81 85 -1 9.35 81   0 -0.02 52 0 6.71 6.71 0.0671 -33.34
3 Yr 7.84 0.0784 -33.34 10.82 10.82 0.1082   -33.34 4 Yr 3.31 0.0331 -16.66 -2.1 14   -0.76
6.51 51 -0.06 ################################## 45 -0.63 1/3/1900 52 0.17 4 Yr 7.43 1.27
7.84 10.46 0.54 4 Yr 13.98 0.89 3.83 8.21 -0.39 6.96 6.1 2.03
-1.33 8.94 0.6 15.69 11.77 1.52 -0.09 4.42 -0.56 1/10/1900 5.09 -1.35
4 Yr 7.88 -0.44 17.23 10.6 0.04 5 Yr 3.34 0.45 -3.16 4.28 1.09
9.84 7.1 0.27 -1.54 9.8 0.24 5.54 2.66 -0.32 5 Yr 2.53 0.16
11.8 5.75 0 5 Yr 7.6 -0.01 1/5/1900 1.84 -0.1 3.91 4 Yr -2.96
-1.96 4 Yr -1.27 6.05 4 Yr -1.24 -0.09 4 Yr 0.31 6.48 3 YR FUND 6.96 0.0696 -0.17
5 Yr 3 YR FUND 9.84 -0.1 7.38 3 YR FUND 15.69 -0.07 6 Yr 3 YR FUND 3.74 0.0374 -0.01 -2.57 UNIVERSE 82   -0.61
5.67 UNIVERSE 95 -0.32 -1.33 UNIVERSE 80 -0.22 1/5/1900 UNIVERSE 53 -0.01 6 Yr POLICY 10.12 0.1012 -2.28
6.81 POLICY 11.8 -1.33 6 Yr POLICY 17.23 -1.41 1/5/1900 POLICY 3.83 0.0383 -0.03 3.92 9   2.2
-1.14 60 1.55 1/5/1900 50 2.13 0.05 51 0.41 1/5/1900 10.8 5 Yr 5 Yr
6 Yr 15.72 5 Yr 5 Yr 5.9 20.88 5 Yr 5 Yr 7 Yr 11.43 5 Yr 5 Yr ################################ 9.1 # of Negative Qtrs
1/5/1900 13.51 # of Negative Qtrs -0.62 18.53 # of Negative Qtrs 1/6/1900 5.18 # of Negative Qtrs 7 Yr 8.22 # of Positive Qtrs
5.96 12.14 # of Positive Qtrs 7 Yr 17.22 # of Positive Qtrs 6.4 3.84 # of Positive Qtrs 1.73 7.37 Batting Average
-0.74 11.27 Batting Average 1/0/1900 16.12 Batting Average 0.08 2.99 Batting Average 1/4/1900 6.11 Worst Qtr
7 Yr 9.76 Worst Qtr 1.32 13.52 Worst Qtr 8 Yr 2.07 Worst Qtr -2.39 5 Yr Best Qtr
1/3/1900 5 Yr Best Qtr ################################## 5 Yr Best Qtr 1/5/1900 5 Yr Best Qtr 8 Yr 3.91 0.0391 Range
3.59 5.67 0.0567 Range 8 Yr 6.05 0.0605 Range 1/5/1900 5.54 0.0554 Range 1/3/1900 73 Worst 4 Qtrs
-0.37 80 Worst 4 Qtrs 1/2/1900 79 Worst 4 Qtrs 0.01 30 Worst 4 Qtrs 1/4/1900 6.48 0.0648 Standard Deviation
8 Yr 6.81 0.0681 Standard Deviation 1/3/1900 7.38 0.0738 Standard Deviation 9 Yr 5.63 0.0563 Standard Deviation ################################ 8 Beta
1/3/1900 45 Beta -1.12 49 Beta 1/5/1900 29 Beta 9 Yr 7.01 Annualized Alpha
1/4/1900 9.28 Annualized Alpha 9 Yr 10.68 Annualized Alpha 1/5/1900 9.59 Annualized Alpha 1/5/1900 5.41 R-Squared
-0.55 7.6 R-Squared 1/3/1900 8.63 R-Squared 0.08 5.84 R-Squared 5.42 4.63 Sharpe Ratio
9 Yr 6.62 Sharpe Ratio 1/4/1900 7.32 Sharpe Ratio 10 Yr 4.88 Sharpe Ratio 1/0/1900 3.78 Treynor Ratio
1/5/1900 5.84 Treynor Ratio -1.11 6.39 Treynor Ratio 12/31/1997 4.14 Treynor Ratio 10 Yr 2.81 Tracking Error
1/5/1900 4.46 Tracking Error 10 Yr 4.04 Tracking Error Incept 2.76 Tracking Error 12/31/1997 6 Yr Information Ratio
-0.53 6 Yr Information Ratio 12/31/1997 6 Yr Information Ratio 1/6/1900 6 Yr Information Ratio Incept 5 YR FUND 3.92 0.0392 Fund
10 Yr 5 YR FUND 5.22 Fund Incept 5 YR FUND 5.28 Fund 5.92 5 YR FUND 5.49 0.0549 Fund 1/6/1900 UNIVERSE 44   7
12/31/1997 UNIVERSE 62 7 5.08 UNIVERSE 65 6 0.09 UNIVERSE 25 6 5.86 POLICY 5.86 0.0586 13
Incept POLICY 5.96 13 6.16 POLICY 5.9 14 Fiscal Year Returns Ending September POLICY 5.44 0.0544 14 1/0/1900 4   Batting Average 35
5.94 41 Batting Average 35 ################################## 51 Batting Average 30 Fund 26 Batting Average 40 Fiscal Year Returns Ending September 5.71 -5.61
6.35 8.1 -7.44 Fiscal Year Returns Ending September 9.43 -17.97 LBAB 8.56 -2.27 Fund 4.64 6.85
-0.41 6.58 8.62 Fund 7.29 14.93 Diff 5.46 5.39 Policy 3.77 12.46
Fiscal Year Returns Ending September 5.64 16.06 Policy 5.91 32.9 3/31/2007 4.67 7.66 Diff 3.1 -7.44
Fund 4.79 -9.47 Diff 4.82 -25.12 Qtr 4.04 -0.36 3/31/2007 1.98 Standard Deviation 6.52
Policy 3.15 Standard Deviation 7.53 3/31/2007 2 Standard Deviation 14.91   1/1/1900 2.99 Standard Deviation 3.62 Qtr 7 Yr Beta 0.86
Diff 7 Yr Beta 0.85 Qtr 7 Yr Beta 0.99   1.5 7 Yr Beta 0.94   2.14 1.73 Annualized Alpha -1.56 -0.0156
3/31/2007 3.22 Annualized Alpha -0.14 -0.0014 1.83 0.89 Annualized Alpha -1.15 -0.0115 0.27 6.48 Annualized Alpha 0.24 0.0024 1.09 49 R-Squared 0.9  
Qtr 51 R-Squared 0.97 0.78 60 R-Squared 0.99 2007 17 R-Squared 0.99 1/1/1900 4.12 0.21
1.64 3.59 0.42 1/1/1900 1.32 0.24 YTD 6.4 0.84 2007 7 1.63
1.08 43 3.72 6/29/1905 51 3.58 1/2/1900 18 3.22 YTD 4.37 2.32
0.56 7.17 1.81 YTD 7.66 1.81 2.75 7.82 0.44 4.23 2.5 -1.11
2007.00 5.09 -0.63 8.19 4.12 -0.73 0.03 5.99 -0.2 1/5/1900 1.7 Policy Policy
YTD 3.25 Policy Policy 7.92 1.35 Policy Policy 2006 5.4 Policy LBAB -1.02 0.7 6
5.76 2.31 6 0.27 -0.04 6 3.48 4.76 6 2006 -1.2 14
5.86 0.27 14 2006 -3.9 14 1/3/1900 3.53 14 3.73 8 Yr 65
-0.1 8 Yr 65 9.02 8 Yr 70 -0.19 8 Yr 60 7.52 3.55 -6.08
2006 3.94 -9.11 11.36 2.1 -17.68 2005 5.84 -2.44 -3.79 22 9.59
6.57 63 10.54 -2.34 78 16.08 2.95 15 5.88 2005 4.8 15.67
8.28 4.49 19.65 2005 3.22 33.76 2.8 5.83 8.32 8.2 7 -6.91
-1.71 47 -11.04 12.84 54 -24.41 0.15 16 -0.81 7.39 5.54 Standard Deviation 7.22
2005 6.48 Standard Deviation 8.72 13.21 7.22 Standard Deviation 15.02 2004 7.09 Standard Deviation 3.83 0.81 3.43 1
8.42 5.44 1 -0.37 5.35 1 3.36 5.24 1 2004 2.87 0
9.06 4.35 0 2004 3.42 0 3.68 4.64 0 3.06 2.25 1
-0.64 3.45 1 12.55 2.22 1 -0.32 4.13 1 8.81 1.28 0.55
2004 2.13 0.49 15.46 -0.21 0.32 2003 3.36 0.81 -5.75 9 Yr 3.97
7.44 9 Yr 4.3 -2.91 9 Yr 4.87 5.52 9 Yr 3.12 2003 5.49 0
10.73 5 0 6/25/1905 3.7 0 1/5/1900 5.98 0 12.61 7 Diff
-3.29 43 Diff 24.55 75 Diff 0.08 9 Diff 16.1 5.42 1
6/25/1905 5.53 1 24.8 4.81 0 2002 5.9 0 ################################ 8 -1
14.37 19   -1 -0.25 42   0 9.39 9   0 2002 5.92   -30
17.04 6.32 -30 2002 6.92 -40 9.11 6.33 -20 -5.61 4.31 0.47
-2.67 5.34   1.67 -19.84 5.41   -0.29 0.28 5.15   0.17 -6.21 3.68   -2.74
2002 4.76 -1.92 -19.57 4.53 -1.15 2001 4.67 -0.49 0.6 3.1 -3.21
-7.32 4.21 -3.59 -0.27 3.7 -0.86 1/13/1900 4.19 -0.66 2001 1.66 -0.53
-8.77 3.14 1.57 2001 1.75 -0.71 13.41 3.48 0.45 -13.1 Fiscal Year Returns Ending September -0.7
1.45 Fiscal Year Returns Ending September -1.19 ################################## Fiscal Year Returns Ending September -0.11 0.07 Fiscal Year Returns Ending September -0.21 ################################ Fund -0.14
2001 Fund -0.15 -26.85 Fund -0.01 2000 Fund -0.06 -4.91 Return -1.56
############################## Return   -0.14 0.85 Return   -1.15 1/6/1900 Return   0.24 6/22/1905 %-tile   -0.1
-12.48 %-tile -0.03 2000 %-tile -0.01 6.72 %-tile -0.01 17.54 Policy -0.34
2.49 Policy   -0.07 1/8/1900 Policy   -0.08 -0.15 LBAB   0.03 1/10/1900 Return   -2.34
2000 Return -0.58 11.3 Return -1.29 1999 Return 0.1 7.25 %-tile 2.32
1/9/1900 %-tile 1.81 -2.99 QU. FUND %-tile 1.81 ################################## %-tile 0.44 6/21/1905 Universe   9 Yr
9.76 Universe 9 Yr 1999 UNIVERSE Universe 9 Yr -1.48 Universe 9 Yr 19.87 5th %-tile # of Negative Qtrs
-0.14 5th %-tile # of Negative Qtrs 1/20/1900 POLICY 5th %-tile # of Negative Qtrs 0.38 5th %-tile # of Negative Qtrs 1/6/1900 25th %-tile   # of Positive Qtrs
1999 25th %-tile # of Positive Qtrs 27.81 25th %-tile # of Positive Qtrs 1998 25th %-tile # of Positive Qtrs 13.1 QU. FUND 50th %-tile Batting Average
1/13/1900 QU. FUND 50th %-tile Batting Average ################################## 50th %-tile Batting Average Returns in Up Markets QU. FUND 50th %-tile Batting Average 1998 UNIVERSE 75th %-tile Worst Qtr
15.47 UNIVERSE 75th %-tile Worst Qtr 1998 75th %-tile Worst Qtr Fund UNIVERSE 75th %-tile Worst Qtr Returns in Up Markets POLICY 95th %-tile Best Qtr
############################## POLICY 95th %-tile Best Qtr Returns in Up Markets 95th %-tile Best Qtr LBAB POLICY 95th %-tile Best Qtr Fund Qtr Range
1998 Qtr Range Fund Qtr Range Ratio Qtr Range Policy 2.14 0.0214 Worst 4 Qtrs
Returns in Up Markets 1.64 0.0164 Worst 4 Qtrs Policy 1.83 0.0183 Worst 4 Qtrs 3 Yr 1.77 0.0177 Worst 4 Qtrs Ratio 4 Standard Deviation
Fund 23 Standard Deviation Ratio 24 Standard Deviation 7.9 19 Standard Deviation 3 Yr 1.09 0.0109 Beta
Policy 1.08 0.0108 Beta 3 Yr 0.78 0.0078 Beta 8.4 1.5 0.015 Beta 1/8/1900 50   Annualized Alpha
Ratio 61 Annualized Alpha 16.2 78 Annualized Alpha 93.9 30 Annualized Alpha 10.2 2.11 R-Squared
3 Yr 2.38 R-Squared 17.6 2.89 R-Squared 5 Yr 2.74 R-Squared 81.9 1.47 Sharpe Ratio
10.2 1.6 Sharpe Ratio 91.8 1.79 Sharpe Ratio 1/9/1900 1.57 Sharpe Ratio 5 Yr 1.08 Treynor Ratio
11.9 1.2 Treynor Ratio 5 Yr 1.22 Treynor Ratio 9.5 1.24 Treynor Ratio 10.6 0.76 Tracking Error
85.6 0.91 Tracking Error 1/23/1900 0.84 Tracking Error 96.5 0.71 Tracking Error 1/14/1900 -0.08 Information Ratio
5 Yr 0.41   Information Ratio 24.6 -0.06   Information Ratio 9 Yr 0.51   Information Ratio 75.6 YTD   Fund
1/13/1900 YTD Fund 94.2 YTD Fund 1/9/1900 YTD Fund 9 Yr 4.23 13
16.3 5.76   13 9 Yr 8.19 13 10 2.78   10 15 66   23
83.8 56 23 1/26/1900 50 23 98.2 31 26 1/13/1900 5.25 47.22
9 Yr 5.86 50 27.9 7.92 38.89 12/31/1997 2.75 47.22 110.9 28   -7.29
1/15/1900 51 -7.44 92.9 60 -17.97 Incept 32 -2.27 12/31/1997 6.44 14.62
17.6 8.27 12.53 12/31/1997 10.87   19.75 9.7 7.03 5.39 Incept 5.32   21.91
89 6.62 19.97 Incept 9.11 37.72 9.8 2.99 7.66 1/16/1900 2004 FUND 4.69 0.0469 -13.1
12/31/1997 2004 FUND 5.88 0.0588 -9.99 27.5 2004 FUND 8.17 0.0817 -26 98.4 2004 FUND 2.35 0.0235 -1.19 13.9 UNIVERSE 3.8 8.96
Incept UNIVERSE 5.31 8.46 1/29/1900 UNIVERSE 7.54 16.08 Returns in Down Markets UNIVERSE 1.67 3.81 116.1 POLICY 2.97 0.0297 1.12
16.8 POLICY 4.43 0.0443 0.88 4/2/1900 POLICY 6.15 0.0615 0.93 Fund POLICY 1.25 0.0125 0.95 Returns in Down Markets 2006   -0.46
1/18/1900 2006 0.1 0.001 Returns in Down Markets 2006 -0.79   LBAB 2006 0.36 0.0036 Fund 3.73 0.77 0.0077
3/30/1900 6.57   0.97 Fund 9.02 0.97 Ratio 3.48 0.98 Policy 70   0.22
Returns in Down Markets 72 0.18 Policy 68 0.01 3 Yr 63 0.65 Ratio 7.52 1.79
Fund 8.28 1.72 Ratio   11.36   0.23 -2.8 3.67   2.62 3 Yr 11   4.38
Policy 30 1.93 3 Yr   20 3.2 -3.4 54 0.56 ################################ 8.01 0.02
Ratio 10.53 -0.27 -6.7   13.53   -0.35 82.5 7.62   0.14 -2.4 6.02   Policy
3 Yr 8.49 Policy -5.5 10.99 Policy 5 Yr 4.69 LBAB 185.6 2003 FUND 4.64 0.0464 12
-2.9 2003 FUND 7.42 0.0742 13 121.3 2003 FUND 9.94 0.0994 13 -2.5 2003 FUND 3.76 0.0376 11 5 Yr UNIVERSE 3.09 24
-2.7 UNIVERSE 6.42 23 5 Yr UNIVERSE 8.24 23 -2.9 UNIVERSE 3.21 25 -10.3 POLICY -0.37 -0.0037 52.78
109 POLICY 4.52 0.0452 50 -25.2 POLICY 4.94 0.0494 61.11 86.4 POLICY 2.3 0.023 52.78 -9.3 2005   -6.08
5 Yr 2005 -9.11 -24.2 2005 -17.68 9 Yr 2005 -2.44 109.9 8.2 9.59
-10.8 8.42   12.55 104.4 12.84 21.3 -2.2 2.95 5.88 9 Yr 40   15.67
-12.4 86 21.66 9 Yr 80 38.98 -2.8 36 8.32 -11.2 7.39 -8.19
87.2 9.06 -12.48 -26.5 13.21   -26.85 78.2 2.8   -2.05 -9.1 60   7.02
9 Yr 73 9.44 -26.3 74 16.91 12/31/1997 40 3.97 123.8 11.59 1
-11.6 13.34 1 100.5 18.82   1 Incept 7.26   1 12/31/1997 9.09   0
-12.9 11.49 0 12/31/1997 15.95 0 -2.2 3.57 0 Incept 2002 FUND 7.71 0.0771 1
89.5 2002 FUND 10.12 0.1012 1 Incept 2002 FUND 14.36 0.1436 1 -2.8 2002 FUND 2.54 0.0254 1 -11.2 UNIVERSE 5.99 0.27
12/31/1997 UNIVERSE 8.95 0.22 -26.5 UNIVERSE 13.14 0.08 78.2 UNIVERSE 1.72 0.61 -9.1 POLICY 3.99 0.0399 1.93
Incept POLICY 7.53 0.0753 2.04 -26.3 POLICY 11.02 0.1102 1.32 POLICY 0.86 0.0086 2.41 123.8 2004   0
-11.6 2004 0 100.5 2004 0 2004 0 3.06 Diff
-12.9 7.44   Diff 12.55 Diff 3.36 Diff 100   1
89.5 94 0 80 0 45 -1 8.81 -1
10.73 0 15.46   0 3.68   1 8   -5.56
60 0 51 -22.22 38 -5.56 10.05 -1.21
15.19 1.67 20.83   -0.29 12.2   0.17 7.21   5.03
13.1 -0.02 17.65 -1.55 4.61 -0.49 2001 FUND 6.19 0.0619 6.24
2001 FUND 11.12 0.1112 -1.69 2001 FUND 15.48 0.1548 -1.26 2001 FUND 3.13 0.0313 -0.66 UNIVERSE 5.39 -4.91
UNIVERSE 9.77 2.49 UNIVERSE 13.51 0.85 UNIVERSE 1.77 0.86 POLICY 4.07 0.0407 1.94
POLICY 7.06 0.0706 -0.98 POLICY 9.07 0.0907 -0.83 POLICY 0.72 0.0072 -0.16 2003   0.12
2003 -0.12 2003 -0.07 2003 -0.05 12.61 -0.46
14.37   0.1 24.55 -0.79 5.52 0.36 51   -0.23
82 -0.03 30 -0.03 41 -0.02 16.1 -0.05
17.04 -0.04 24.8   -0.07 5.44   0.04 13   -0.14
33 -0.32 28 -1.09 42 0.21 18.8 4.38
25.02 1.93 28.7   3.2 26.81   0.56 14.45   Incept
17.93 Incept 24.96 Incept 7.58 Incept 2000 FUND 12.64 0.1264 # of Negative Qtrs
2000 FUND 15.96 0.1596 # of Negative Qtrs 2000 FUND 23.46 0.2346 # of Negative Qtrs 2000 FUND 4.69 0.0469 # of Negative Qtrs UNIVERSE 11.35 # of Positive Qtrs
UNIVERSE 14.71 # of Positive Qtrs UNIVERSE 21.97 # of Positive Qtrs UNIVERSE 2.87 # of Positive Qtrs POLICY 8.45 0.0845 Batting Average
POLICY 12.64 0.1264 Batting Average POLICY 18.62 0.1862 Batting Average POLICY 1.6 0.016 Batting Average 2002 Worst Qtr
2002 Worst Qtr 2002 Worst Qtr 2002 Worst Qtr -5.61 Best Qtr
-7.32 Best Qtr -19.84 Best Qtr 9.39 Best Qtr 34 Range
32 Range 77 Range 9 Range -6.21 Worst 4 Qtrs
-8.77 Worst 4 Qtrs -19.57 Worst 4 Qtrs 9.11 Worst 4 Qtrs 46 Standard Deviation
60 Standard Deviation 72 Standard Deviation 10 Standard Deviation -2.83 Beta
-4.49 Beta -11.32 Beta 10.2 Beta -5.09 Annualized Alpha
-6.91 Annualized Alpha -16.04 Annualized Alpha 7.74 Annualized Alpha -6.4 R-Squared
-8.37 R-Squared -18.24 R-Squared 6.13 R-Squared -8.25 Sharpe Ratio
-9.59 Sharpe Ratio -19.77 Sharpe Ratio 4.06 Sharpe Ratio -12.76 Treynor Ratio
-12.65 Treynor Ratio -21.94 Treynor Ratio -4.43 Treynor Ratio 2001 Tracking Error
2001 Tracking Error 2001 Tracking Error 2001 Tracking Error -13.1 Information Ratio
-9.99 Information Ratio -26 Information Ratio 13.48 Information Ratio 54 Fund
33 Fund 46 Fund 9 Fund -8.19 13
-12.48 13 -26.85 13 13.41 10 21 24
50 24 51 24 10 27 -3.26 48.65
1.6 51.35 -5.07 40.54 13.98 48.65 -9.11 -7.29
-7.53 -7.44 -17.49 -17.97 12.52 -2.27 -12.7 14.62
-12.49 12.53 -26.8 19.75 11.24 5.39 -16.29 21.91
-15.92 19.97 -29.45 37.72 9.07 7.66 -23.9 -13.1
-21.92 -9.99 -40.85   -26 -11.92 -1.19 2000 9.26
2000 8.8 2000 16.4 2000 3.76 17.54 1.15
9.62 0.9 8.31   0.94 6.57 0.95 34 -0.21
53 0.21 80 -0.7 24 0.37 10.29 0.77
9.76 0.96 11.3 0.97 6.72 0.98 78 0.31
51 0.27 62 0.09 20 0.66 44.89 2.5
22.84 2.67 33.48   1.64 7.97 2.6 19.6 4.58
13.38 1.94 17.71 3.16 6.53 0.55 15.25 0.12
9.79 -0.21 12.63   -0.34 5.96 0.16 10.86 Policy
7.44 Policy 9.39 Policy 5.16 LBAB 4.47 12
2.26 13 0.53 13 -0.46 11 1999 25
1999 24 1999 24 1999 26 19.87 51.35
13.24 48.65 20.9 59.46 -1.1 51.35 3 -6.08
71 -9.11 73 -17.68 68 -2.44 6.77 9.59
15.47 12.55 27.81 21.3 -1.48 5.88 84 15.67
56 21.66 32 38.98 72 8.32 17.87 -8.19
23.99 -12.48 39.94 -26.85 7.11 -2.05 11.77 7.03
18.64 9.62 29.37 17.16 2.41 3.92 8.99 1
15.86 1 27.21 1 0.41 1 7.47 0
10.84 0 18.99 0 -1.8 0 4.59 1
5.43 1 10.56 1 -4.55 1 0.33
0.29 0.15 0.61 2.32
2.81 2.62 2.38 0
0 0 0 Diff
Diff Diff Diff 1
0 0 -1 -1
0 0 1 -2.7
2.7 -18.92 -2.7 -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 2.23
-0.82 -0.76 -0.16 0.15
-0.1 -0.06 -0.05 -0.21
0.21 -0.7 0.37 -0.23
-0.04 -0.03 -0.02 -0.02
-0.02 -0.06 0.05 0.18
-0.14 -0.98 0.22 4.58
1.94 3.16 0.55 5.08