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 (Excluding FI A+ before 1/1/2007) Total Fund DHJ Total (Excluding FI A+ before 1/1/2007) Total Fund DHJ Total (Excluding FI A+ before 1/1/2007)
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
3 20%BLCC 20%BLCVC 10%BSCVC,10%BSC,25%IFI15%BFI 21 24 33.33BLCGC,33.33LBCVC,16.67%BSCVC,16.67%BSC 26 29 62.5% Intermediate FI, 37.5% Broad FI 31 Inception date is December 31, 1997 33.33% Broad LC Growth Core Eq., 66.67% IFI 3 Yr
Inception date is December 31, 1997 5 3 Yr Inception date is December 31, 1997 25 3 Yr Inception date is December 31, 1997 30 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 December 31, 2008 Batting Average
Returns are net of fees. Incept is December 31, 1997 to December 31, 2008 Batting Average Returns are gross of fees. Incept is December 31, 1997 to December 31, 2008 Batting Average Returns are gross of fees. Incept is December 31, 1997 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 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 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 Policy Standard Deviation 12/31/2008 Return Beta
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 Qtr %-tile Annualized Alpha 17,276 Universe R-Squared
49,517 Universe R-Squared 23,009 Universe R-Squared 20,564 Universe R-Squared 347 5th %-tile Sharpe Ratio
341 5th %-tile Sharpe Ratio 991 5th %-tile Sharpe Ratio -1,040 5th %-tile Sharpe Ratio -402 25th %-tile Treynor Ratio
-6,022 25th %-tile Treynor Ratio -5,812 25th %-tile Treynor Ratio 1,014 25th %-tile Treynor Ratio 17,221 50th %-tile Tracking Error
43,836 50th %-tile Tracking Error 18,188 50th %-tile Tracking Error 20,538 50th %-tile Tracking Error 2,009 75th %-tile Information Ratio
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 YTD 95th %-tile Fund 17,276 1 Yr 5
49,517 1 Yr 6 23,009   1 Yr   6 20,564   1 Yr   5 347 -7.56 -0.0756 7
341 -20.4 -0.204 6 991   -37.37 -0.3737 6 -1,040   5.85 0.0585 7 -402 1   50
-6,022 4 50 -5,812   81   41.67 1,014   3   58.33 17,221 -13.89 -0.1389 -3.83
43,836 -21.03 -0.2103 -12.24 18,188 -35.92 -0.3592 -25.32 20,538 5.56 0.0556 -1.44 35,795 14   4.24
12/31/1997 7 4.06 12/31/1997 47 6.31 12/31/1997 3 5.23 Incept -12.5 8.07
Incept -20.74 16.3 Incept -33.89 31.63 Incept 4.22 6.67 15,998 -15.3 -7.56
15,998 -22.73 -20.4 10,999 -35.18 -37.37 4,811 -0.81 3.9 -10,083 -18.17 5.33
17,594 -24.71 9.85 5,055 -36.04 16.62 5,288 -5.52 3.85 11,305 -21.99 0.72
10,244 -26.65 0.97 2,134     -36.99 1.01 10,439     -10.91 1.02 17,221  17,221,000 -28.06 1.73
43,836  43,836,000 -30.49 -0.72 18,188   18,188,000 -38.46 -1.74 20,538   20,538,000 -19.46 0.28 Investment Policy     2 Yr 0.91
Investment Policy 2 Yr 0.97 Investment Policy 2 Yr 0.98 Investment Policy 2 Yr 0.97 Index 1.24 0.0124 -0.32
Index -8.62 -0.0862 -0.71 Index -19.52 -0.1952 -0.83 Index 7.22 0.0722 0.61 Barclays Capital Gov/Credit-Intermediate 1 -2.36
Barclays Capital Gov/Credit-Intermediate 7 -7.16 Russell 1000 Value 75 -13.66 Barclays Capital Gov/Credit-Intermediate 1 2.29 Russell 1000 Growth -2.69 -0.0269 2.57
Russell 1000 Value -9.05 -0.0905 1.59 Russell 1000 Growth -18.83 -0.1883 2.52 LBAB A+ 6.42 0.0642 0.62 Total 12 0.65
Russell 1000 Growth 10 -0.4 S&P Midcap 400 57 -0.7 Total 2 0.61 Weight -1.56 Policy
Other -8.44 Policy Russell 2000 Value -15.93 Policy Weight 4.91 Policy 66.67 -4.21 5
Weight -10.05 6 Weight -17.75 6 62.5 2.19 5 33.33 -6.21 7
25 -11.3 6 33.33 -18.59 6 37.5 -0.54 7 100 -8.55 50
20 -12.77 50 33.33 -19.56 58.33 100 -3.55 41.67 Trailing Returns through December 31, 2008 -11.84 -4.94
20 -15.06 -12.55 16.67 -21.48 -23.37 Trailing Returns through December 31, 2008 -8.55 -1.37 Fund 3 Yr 3.71
35 3 Yr 4.72 16.67   3 Yr 7.09 Fund   3 Yr   4.97 Policy 1 Yr FUND 2.06 0.0206 8.65
Trailing Returns through December 31, 2008 1 Yr FUND -3.19 -0.0319 17.27 Trailing Returns through December 31, 2008 1 Yr FUND -10.04 -0.1004 30.46 Policy 1 Yr FUND 6.1 0.061 6.34 Diff UNIVERSE 2   -13.89
Fund UNIVERSE 16 -21.03 Fund UNIVERSE 91 -35.92 Diff UNIVERSE 1 3.56 1 Yr POLICY 0.39 0.0039 7.08
Policy POLICY -2.55 -0.0255 9.99 Policy POLICY -8.28 -0.0828 16.24 1 Yr POLICY 5.72 0.0572 3.75 -7.56 10   1
Diff 6 1 Diff 44 1 5.85 2 1 -13.89 0.91 0
1 Yr -2.53 0 1 Yr -6.45 0 5.56 4.6 0 6.33 -0.61 1
-20.4 -3.5 1 -37.37 -7.87 1 0.29 2.73 1 2 Yr -2.05 -0.48
-21.03 -4.43 -0.63 -35.92 -8.43 -0.74 2 Yr 1.22 0.52 1.24 -3.57 -3.37
0.63 -5.23 -6.31 -1.45 -9.17 -12.04 7.22 -0.54 1.96 -2.69 -6.83 0
2 Yr -7 0 2 Yr -10.65 0 6.42 -4.07 0 3.93 4 Yr Diff
-8.62 4 Yr Diff -19.52 4 Yr Diff 1/0/1900 4 Yr Diff 3 Yr 2.47 0.0247 0
-9.05 -1.54 -0.0154 0 -18.83 -6.51 -0.0651   0 3 Yr 5.23 0.0523 0 2.06 2   0
0.43 25 0 -0.69 93   0 6.1 1 0 0.39 1.21 0.0121 0
3 Yr -0.95 -0.0095 0 3 Yr -5.15 -0.0515   -16.66 5.72 4.89 0.0489 16.66 1.67 16   1.11
-3.19 10 0.31 ################################## 56 -1.95 1/0/1900 1 -0.07 4 Yr 1.98 0.53
-2.55 -0.61 -0.66 -8.28 -3.03 -0.78 4 Yr 4.06 0.26 2.47 0.75 -0.58
-0.64 -1.54 -0.97 -1.76 -4.51 1.17 5.23 2.58 0.33 1/1/1900 -0.39 6.33
4 Yr -2.31 0.63 4 Yr -5.05 -1.45 4.89 1.63 0.34 1.26 -1.59 -1.75
-1.54 -2.95 -0.14 -6.51 -5.68 0.38 0.34 0.12 0.1 5 Yr -3.83 -0.28
-0.95 -4.22 -0.03 -5.15 -6.69 0.01 5 Yr -2.92 0.02 2.92 5 Yr 1.73
-0.59 5 Yr -0.72 -1.36 5 Yr -1.74 5.01 5 Yr 0.28 1.94 3 YR FUND 2.92 0.0292 -0.09
5 Yr 3 YR FUND 0.25 0.0025 -0.03 5 Yr 3 YR FUND -3.22 -0.0322 -0.02 4.78 3 YR FUND 5.01 0.0501 -0.03 0.98 UNIVERSE 6   0.16
0.25 UNIVERSE 42 -0.08 -3.22 UNIVERSE 94 -0.09 1/0/1900 UNIVERSE 1 0.09 6 Yr POLICY 1.94 0.0194 1.01
0.99 POLICY 0.99 0.0099 -0.85 ################################## POLICY -1.89 -0.0189 -1.62 6 Yr POLICY 4.78 0.0478 0.33 4.61 23   2.57
-0.74 14 1.59 ################################## 58 2.52 4.86 2 0.62 1/4/1900 3.01 5 Yr 5 Yr
6 Yr 1.52 5 Yr 5 Yr 6 Yr 0.5 5 Yr 5 Yr 4.67 4.16 5 Yr 5 Yr 1/0/1900 1.82 # of Negative Qtrs
1/2/1900 0.62 # of Negative Qtrs 1.57 -1.09 # of Negative Qtrs 1/0/1900 3.13 # of Negative Qtrs 7 Yr 1 # of Positive Qtrs
3.86 0.06 # of Positive Qtrs 2.88 -1.72 # of Positive Qtrs 7 Yr 2.15 # of Positive Qtrs 2.96 0.01 Batting Average
-1.04 -0.55 Batting Average ################################## -2.33 Batting Average 5.71 1.05 Batting Average 1/2/1900 -1.73 Worst Qtr
7 Yr -1.58 Worst Qtr 7 Yr -3.36 Worst Qtr 5.54 -0.88 Worst Qtr 0.65 6 Yr Best Qtr
1/1/1900 6 Yr Best Qtr ################################## 6 Yr Best Qtr 1/0/1900 6 Yr Best Qtr 8 Yr 4.61 0.0461 Range
1.9 2.82 0.0282 Range -0.93 1.57 0.0157 Range 8 Yr 4.86 0.0486 Range 1/2/1900 19 Worst 4 Qtrs
-0.65 67 Worst 4 Qtrs ################################## 93 Worst 4 Qtrs 6.09 12 Worst 4 Qtrs 1/1/1900 4.47 0.0447 Standard Deviation
8 Yr 3.86 0.0386 Standard Deviation 8 Yr 2.88 0.0288 Standard Deviation 5.9 4.67 0.0467 Standard Deviation 1/0/1900 23 Beta
1/0/1900 28 Beta -3.38 59 Beta 1/0/1900 13 Beta 9 Yr 5.37 Annualized Alpha
1/1/1900 5.23 Annualized Alpha -2.59 5.14 Annualized Alpha 9 Yr 6.2 Annualized Alpha 1/1/1900 4.39 R-Squared
-0.38 3.99 R-Squared ################################## 3.66 R-Squared 6.65 3.55 R-Squared 0.42 3.59 Sharpe Ratio
9 Yr 3.3 Sharpe Ratio 9 Yr 3.04 Sharpe Ratio 6.55 2.67 Sharpe Ratio 1/1/1900 2.67 Treynor Ratio
1/0/1900 2.62 Treynor Ratio -3.77 2.43 Treynor Ratio 1/0/1900 1.72 Treynor Ratio 10 Yr 1.37 Tracking Error
1/0/1900 1.67 Tracking Error ################################## 1.34 Tracking Error 10 Yr 0.33 Tracking Error 1/3/1900 7 Yr Information Ratio
-0.09 7 Yr Information Ratio ################################## 7 Yr Information Ratio 1/5/1900 7 Yr Information Ratio 1/1/1900 5 YR FUND 2.96 0.0296 Fund
10 Yr 5 YR FUND 1.25 Fund 10 Yr 5 YR FUND -2.03 Fund 1/5/1900 5 YR FUND 5.71 0.0571 Fund 1/1/1900 UNIVERSE 12   8
1/1/1900 UNIVERSE 50 9 -2.58 UNIVERSE 93 8 0.18 UNIVERSE 6 8 12/31/1997 POLICY 2.31 0.0231 12
1/1/1900 POLICY 1.9 11 ################################## POLICY -0.93 12 12/31/1997 POLICY 5.54 0.0554 12 Incept 31   Batting Average 45
-0.49 28 Batting Average 45 ################################## 62 Batting Average 40 Incept 7 Batting Average 50 1/5/1900 3.35 -3.83
12/31/1997 3.03 -12.24 12/31/1997 2.09 -25.32 6.2 5.79 -2.27 3.02 2.45 6.49
Incept 1.96 6.82 Incept 0.24 10.79 1/6/1900 4.19 5.23 2.39 1.67 10.32
1/3/1900 1.24 19.06 0.06 -0.63 36.11 1/0/1900 3.42 7.5 Fiscal Year Returns Ending September 0.84 -7.56
3.41 0.64 -20.4 1.17 -1.24 -37.37 Fiscal Year Returns Ending September 2.63 -0.36 Fund -0.4 Standard Deviation 5.44
-0.29 -0.28 Standard Deviation 8.41 ################################## -2.22 Standard Deviation 14.12   Fund 1.35 Standard Deviation 3.61 Policy 8 Yr Beta 0.81
Fiscal Year Returns Ending September 8 Yr Beta 0.98 Fiscal Year Returns Ending September 8 Yr Beta 1.01   Policy 8 Yr Beta 0.98   Diff 2 Annualized Alpha 1.32 0.0132
Fund 0.66 Annualized Alpha -0.71 -0.0071 Fund -3.38 Annualized Alpha -1.27 -0.0127 Diff 6.09 Annualized Alpha 0.32 0.0032 12/31/2008 16 R-Squared 0.88  
Policy 45 R-Squared 0.97 Policy 89 R-Squared 0.97 12/31/2008 5 R-Squared 0.98 Qtr 1.26 -0.03
Diff 1.04 -0.34 Diff -2.59 -0.45 Qtr 5.9 0.53 -2.43 33 -0.22
12/31/2008 34 -2.91 12/31/2008 62 -6.26 1/5/1900 7 1.95 -4.85 2.59 2.22
Qtr 2.94 1.58 Qtr 1.44 2.39 4.97 6.08 0.54 2.42 1.62 0.44
-12.24 1.39 -0.47 -25.32 -1.14 -0.56 0.26 4.6 0.43 7/1/1905 0.69 Policy Policy
-12.55 0.52 Policy Policy -23.37 -2.33 Policy Policy 2009 3.82 Policy Policy YTD -0.04 8
0.31 -0.18 8 -1.95 -2.92 8 YTD 3.03 8 -2.43 -1.34 12
2009 -1.16 12 2009 -4.1 12 1/5/1900 1.79 12 -4.85 9 Yr 55
YTD 9 Yr 55 YTD 9 Yr 60 4.97 9 Yr 50 2.42 1.94 -4.94
-12.24 0.66 -12.55 -25.32 -3.77 -23.37 0.26 6.65 -2.44 2008 15 5.19
-12.55 45 6.28 -23.37 76 9.9 2008 2 4.97 -3.41 0.42 10.13
0.31 0.75 18.83 -1.95 -3.43 33.27 3.98 6.55 7.41 -8.67 55 -13.89
2008 44 -21.03 2008 65 -35.92 3.56 2 -0.81 5.26 2.8 Standard Deviation 6.33
-11.57 3.48 Standard Deviation 8.44 -21 1.93 Standard Deviation 13.76 0.42 5.86 Standard Deviation 3.65 2007 1.48 1
-10.79 1.69 1 -19.72 -0.77 1 2007 4.97 1 10.97 0.63 0
-0.78 0.44 0 -1.28 -2.79 0 6.1 4.32 0 12.99 -0.36 1
2007 -0.44 1 2007 -3.74 1 5.48 3.43 1 -2.02 -1.92 -0.18
11.96 -1.56 -0.25 16.64 -5.31 -0.36 0.62 1.8 0.46 2006 10 Yr -1.16
11.03 10 Yr -2.11 14.69 10 Yr -4.99 2006 10 Yr 1.68 3.73 3.23 0
0.93 1.28 0 1/1/1900 -2.58 0 1/3/1900 5.84 0 4.97 7 Diff
2006 58 Diff 2006 98 Diff 3.67 4 Diff -1.24 1.6 0
1/6/1900 1.77 1 9.02 -1.22 0 -0.19 5.66 0 6/27/1905 52 0
8.28 42   -1 11.36 67   0 2005 5   0 8.2 3.33   -10
-1.71 3.83 -10 -2.34 3.13 -20 2.95 5.52 0 7.07 2.35 1.11
2005 2.37   0.31 2005 0.7   -1.95 2.8 4.28   0.17 1.13 1.64   1.3
8.42 1.51 0.54 12.84 -0.68 0.89 0.15 3.63 0.26 2004 0.78 0.19
9.06 0.72 0.23 13.21 -1.5 2.84 6/26/1905 3.04 0.09 3.06 -0.69 6.33
-0.64 -0.15 0.63 -0.37 -2.36 -1.45 3.36 1.81 0.45 5.45 Fiscal Year Returns Ending September -0.89
2004 Fiscal Year Returns Ending September -0.03 6/26/1905 Fiscal Year Returns Ending September 0.36 3.68 Fiscal Year Returns Ending September -0.04 ################################ Fund -0.19
7.44 Fund -0.02 12.55 Fund 0.01 -0.32 Fund -0.02 2003 Return 1.32
1/10/1900 Return   -0.71 15.46 Return   -1.27 6/25/1905 Return   0.32 1/12/1900 %-tile   -0.12
-3.29 %-tile -0.03 -2.91 %-tile -0.03 5.52 %-tile -0.02 16.84 Policy 0.15
2003 Policy   -0.09 6/25/1905 Policy   -0.09 5.44 Policy   0.07 ################################ Return   0.94
14.37 Return -0.8 24.55 Return -1.27 0.08 Return 0.27 2002 %-tile 2.22
1/17/1900 %-tile 1.58 24.8 QU. FUND %-tile 2.39 6/24/1905 %-tile 0.54 ################################ Universe   10 Yr
-2.67 Universe 10 Yr -0.25 UNIVERSE Universe 10 Yr 9.39 Universe 10 Yr -7.3 5th %-tile # of Negative Qtrs
2002 5th %-tile # of Negative Qtrs 6/24/1905 POLICY 5th %-tile # of Negative Qtrs 9.11 5th %-tile # of Negative Qtrs 1/1/1900 25th %-tile   # of Positive Qtrs
-7.32 25th %-tile # of Positive Qtrs -19.84 25th %-tile # of Positive Qtrs 0.28 25th %-tile # of Positive Qtrs 2001 QU. FUND 50th %-tile Batting Average
############################## QU. FUND 50th %-tile Batting Average ################################## 50th %-tile Batting Average 6/23/1905 QU. FUND 50th %-tile Batting Average -13.1 UNIVERSE 75th %-tile Worst Qtr
1.45 UNIVERSE 75th %-tile Worst Qtr -0.27 75th %-tile Worst Qtr 13.48 UNIVERSE 75th %-tile Worst Qtr -20.13 POLICY 95th %-tile Best Qtr
6/23/1905 POLICY 95th %-tile Best Qtr 6/23/1905 95th %-tile Best Qtr 13.41 POLICY 95th %-tile Best Qtr 1/7/1900 Qtr Range
-9.99 Qtr Range -26 Qtr Range 0.07 Qtr Range 2000 -2.43 -0.0243 Worst 4 Qtrs
############################## -12.24 -0.1224 Worst 4 Qtrs ################################## -25.32 -0.2532 Worst 4 Qtrs 6/22/1905 5.23 0.0523 Worst 4 Qtrs 17.54 1 Standard Deviation
2.49 8 Standard Deviation 0.85 100 Standard Deviation 6.57 1 Standard Deviation 1/15/1900 -4.85 -0.0485 Beta
6/22/1905 -12.55 -0.1255 Beta 6/22/1905 -23.37 -0.2337 Beta 6.72 4.97 0.0497 Beta 1/2/1900 14   Annualized Alpha
9.62 12 Annualized Alpha 8.31 59 Annualized Alpha -0.15 2 Annualized Alpha Returns in Up Markets -3.78 R-Squared
1/9/1900 -11.86 R-Squared 11.3 -21.67 R-Squared Returns in Up Markets 4.23 R-Squared Fund -5.7 Sharpe Ratio
-0.14 -13.42 Sharpe Ratio -2.99 -22.58 Sharpe Ratio Fund 1.43 Sharpe Ratio Policy -7.57 Treynor Ratio
Returns in Up Markets -14.49 Treynor Ratio Returns in Up Markets -23.16 Treynor Ratio Policy -1.32 Treynor Ratio Ratio -9.76 Tracking Error
Fund -15.95 Tracking Error Fund -23.73 Tracking Error Ratio -4.67 Tracking Error 3 Yr -13.44 Information Ratio
Policy -18.4   Information Ratio Policy -24.56   Information Ratio 3 Yr -10.58   Information Ratio 9.8 YTD   Fund
Ratio YTD Fund Ratio YTD Fund 1/12/1900 YTD Fund 1/11/1900 -2.43 16
3 Yr -12.24 -0.1224 17 3 Yr -25.32 -0.2532 17 12 5.23 0.0523 13 89.1 1   24
12.3 8 23 1/17/1900 100 23 105.7 1 27 5 Yr -4.85 47.5
12.8 -12.55 -0.1255 52.5 17.6 -23.37 -0.2337 40 5 Yr 4.97 0.0497 52.5 10.1 14   -7.29
4/4/1900 12 -12.24 96.4 59 -25.32 1/10/1900 2 -2.27 1/10/1900 -3.78 10.46
5 Yr -11.86 8.62 5 Yr -21.67   14.93 10.6 4.23 5.39 92.1 -5.7   17.75
10.3 -13.42 20.86 1/15/1900 -22.58 40.25 101.8 1.43 7.66 10 Yr 2004 FUND -7.57 -0.0757 -13.1
1/11/1900 2004 FUND -14.49 -0.1449 -20.4 16.1 2004 FUND -23.16 -0.2316 -37.37 10 Yr 2004 FUND -1.32 -0.0132 -1.19 14.1 UNIVERSE -9.76 7.49
3/30/1900 UNIVERSE -15.95 8.59 4/5/1900 UNIVERSE -23.73 16.61 1/10/1900 UNIVERSE -4.67 3.93 15.2 POLICY -13.44 -0.1344 0.76
10 Yr POLICY -18.4 -0.184 0.89 10 Yr POLICY -24.56 -0.2456 0.97 1/10/1900 POLICY -10.58 -0.1058 0.96 92.4 2008   1.94
1/13/1900 2008 -0.32 -0.0032 1/22/1900 2008 -1.37   100.4 2008 0.38 0.0038 12/31/1997 -3.41 0.9 0.009
1/15/1900 -11.57   0.96 1/24/1900 -21 0.97 12/31/1997 3.98 0.98 Incept 1   -0.01
3/28/1900 14 -0.24 4/2/1900 73 -0.35 Incept 3 0.65 16.3 -8.67 -0.09
12/31/1997 -10.79 -2.27 12/31/1997   -19.72   -6.06 10.5 3.56   2.65 1/15/1900 13   3.27
Incept 7 1.97 Incept   46 3.13 10.4 4 0.62 4/12/1900 -7.64 0.5
16.5 -10.67 -0.25 26.6   -16.64   -0.43 100.7 3.4   0.29 Returns in Down Markets -9.67   Policy
1/17/1900 -12.19 Policy 28.1 -18.87 Policy Returns in Down Markets 0.27 Policy Fund 2003 FUND -11.63 -0.1163 17
92.3 2003 FUND -13.39 -0.1339 17 94.8 2003 FUND -19.93 -0.1993 17 Fund 2003 FUND -2.24 -0.0224 14 Policy UNIVERSE -13.48 23
Returns in Down Markets UNIVERSE -14.78 23 Returns in Down Markets UNIVERSE -21.15 23 Policy UNIVERSE -5.03 26 Ratio POLICY -17.63 -0.1763 52.5
Fund POLICY -17.14 -0.1714 47.5 Fund POLICY -23.3 -0.233 60 Ratio POLICY -10.34 -0.1034 47.5 3 Yr 2007   -9.05
Policy 2007 -12.55 Policy 2007 -23.37 3 Yr 2007 -2.44 -7.8 10.97 11.93
Ratio 11.96   10.54 Ratio 16.64 16.08 -2.5 6.1 5.88 -12.7 81   20.98
3 Yr 15 23.09 3 Yr 18 39.45 -2.5 17 8.32 61.5 12.99 -20.13
-16.5 11.03 -21.03 -30.8 14.69   -35.92 100 5.48   -2.05 5 Yr 41   9.31
-15.8 36 9.47 -28.5 69 16.8 5 Yr 21 4.03 -6.9 15.78 1
104.4 12.97 1 108.3 18.96   1 -3.1 8.3   1 ################################ 13.82   0
5 Yr 11.42 0 5 Yr 16.2 0 -3.3 5.01 0 68.2 2002 FUND 12.49 0.1249 1
-13.2 2002 FUND 10.73 0.1073 1 -25.8 2002 FUND 15.25 0.1525 1 91.6 2002 FUND 4.07 0.0407 1 10 Yr UNIVERSE 11.2 -0.18
############################## UNIVERSE 10.04 -0.16 -23.8 UNIVERSE 14.23 -0.27 10 Yr UNIVERSE 3.31 0.59 -9.8 POLICY 9.28 0.0928 -1.7
102.6 POLICY 8.47 0.0847 -1.53 108.6 POLICY 11.34 0.1134 -4.52 ################################## POLICY 2.2 0.022 2.36 -14.3 2006   0
10 Yr 2006 0 10 Yr 2006 0 ################################## 2006 0 68.7 3.73 Diff
-13.5 6.57   Diff -28.8 9.02 Diff 85.5 3.48 Diff 12/31/1997 79   -1
-14.3 90 0 ################################## 84 0 12/31/1997 67 -1 Incept 4.97 1
93.9 8.28 0 4/13/1900 11.36   0 Incept 3.67   1 -9.8 58   -5
12/31/1997 44 5 12/31/1997 29 -20 -2.5 59 5 -14.3 8.07 1.76
Incept 10.61 0.31 Incept 13.81   -1.95 -2.9 7.75   0.17 68.7 6.63   -1.47
-13.5 9.03 -1.92 -28.8 11.56 -1.15 85.5 4.9 -0.49 2001 FUND 5.23 0.0523 -3.23
-14.4 2001 FUND 8.06 0.0806 -2.23 -28 2001 FUND 10.6 0.106 0.8 2001 FUND 3.87 0.0387 -0.66 UNIVERSE 4.02 7.03
93.9 UNIVERSE 7.29 0.63 102.7 UNIVERSE 9.68 -1.45 UNIVERSE 3.32 0.86 POLICY 1.79 0.0179 -1.82
POLICY 5.92 0.0592 -0.88 POLICY 7.11 0.0711 -0.19 POLICY 2.51 0.0251 -0.1 2005   -0.24
2005 -0.11 2005 -0.03 2005 -0.04 8.2 1.94
8.42   -0.32 12.84 -1.37 2.95 0.38 47   -0.1
83 -0.04 73 -0.03 56 -0.02 7.07 0.17
9.06 -0.08 13.21   -0.08 2.8   0.06 77   1.61
66 -0.74 63 -1.54 58 0.29 11.87 3.27
13.27 1.97 19.52   3.13 8.87   0.62 9.28   Incept
11.21 Incept 15.93 Incept 4.73 Incept 2000 FUND 8.09 0.0809 # of Negative Qtrs
2000 FUND 9.7 0.097 # of Negative Qtrs 2000 FUND 13.65 0.1365 # of Negative Qtrs 2000 FUND 3.25 0.0325 # of Negative Qtrs UNIVERSE 7.15 # of Positive Qtrs
UNIVERSE 8.76 # of Positive Qtrs UNIVERSE 12.76 # of Positive Qtrs UNIVERSE 2.09 # of Positive Qtrs POLICY 5.89 0.0589 Batting Average
POLICY 7.41 0.0741 Batting Average POLICY 10.99 0.1099 Batting Average POLICY 1.07 0.0107 Batting Average 2004 Worst Qtr
2004 Worst Qtr 2004 Worst Qtr 2004 Worst Qtr 3.06 Best Qtr
7.44 Best Qtr 12.55 Best Qtr 3.36 Best Qtr 99 Range
99 Range 91 Range 65 Range 5.45 Worst 4 Qtrs
10.73 Worst 4 Qtrs 15.46 Worst 4 Qtrs 3.68 Worst 4 Qtrs 87 Standard Deviation
67 Standard Deviation 61 Standard Deviation 58 Standard Deviation 10.21 Beta
15.87 Beta 22.58 Beta 12.12 Beta 8.37 Annualized Alpha
13.38 Annualized Alpha 18.45 Annualized Alpha 5.38 Annualized Alpha 7.34 R-Squared
11.45 R-Squared 16.03 R-Squared 4.04 R-Squared 6.15 Sharpe Ratio
10.22 Sharpe Ratio 14.65 Sharpe Ratio 2.79 Sharpe Ratio 4.48 Treynor Ratio
8.41 Treynor Ratio 11.27 Treynor Ratio 1.07 Treynor Ratio 2003 Tracking Error
2003 Tracking Error 2003 Tracking Error 2003 Tracking Error 12.61 Information Ratio
14.37 Information Ratio 24.55 Information Ratio 5.52 Information Ratio 79 Fund
85 Fund 47 Fund 32 Fund 16.84 17
17.04 18 24.8 18 5.44 13 28 27
44 26 43 26 33 31 22.78 50
27.07 54.55 29.04 43.18 26.57 52.27 17.05 -7.29
18.86 -12.24 25.93 -25.32 6.94 -2.27 15 14.62
16.53 12.53 24.35 19.75 3.77 5.39 12.95 21.91
15.14 24.77 22.64 45.07 2.78 7.66 10.29 -13.1
12.37 -20.4 18.59   -37.37 1.62 -1.19 2002 8.82
2002 9.5 2002 17.65 2002 3.96 -5.61 0.86
-7.32 0.92 -19.84   0.97 9.39 0.98 35 2.79
41 -0.05 86 -1.05 9 0.32 -7.3 0.81
-8.77 0.97 -19.57 0.97 9.11 0.98 67 0.22
66 -0.03 78 -0.19 12 0.69 -0.61 2.28
-2.95 -0.36 -9.19   -3.49 9.93 2.81 -5.08 4.08
-6.21 1.92 -15.28 3.1 8.22 0.62 -6.64 0.59
-7.87 -0.15 -17.51   -0.36 6.92 0.31 -8.08 Policy
-9.38 Policy -19.36 Policy 4.9 Policy -12.01 17
-12.07 18 -20.81 18 -2.62 14 2001 27
2001 26 2001 26 2001 30 -13.1 50
-9.99 45.45 -26 56.82 13.48 47.73 48 -9.05
44 -12.55 53 -23.37 7 -2.44 -20.13 11.93
-12.48 12.55 -26.85 21.3 13.41 5.88 87 20.98
64 25.1 60 44.67 7 8.32 -2.66 -20.13
3.13 -21.03 -2.78 -35.92 13.75 -2.05 -9.03 9.28
-5.32 10.14 -16.44 17.99 11.19 4 -13.44 1
-11.28 1 -25.75 1 9.73 1 -17.24 0
-14 0 -28.16 0 7.93 0 -24.81 1
-20.8 1 -38.24 1 -11.52 1 -0.05
0 -0.13 0.64 -0.43
-0.04 -2.28 2.56 0
0 0 0 Diff
Diff Diff Diff 0
0 0 -1 0
0 0 1 0
9.1 -13.64 4.54 1.76
0.31 -1.95 0.17 2.69
-0.02 -1.55 -0.49 0.93
-0.33 0.4 -0.66 7.03
0.63 -1.45 0.86 -0.46
-0.64 -0.34 -0.04 -0.14
-0.08 -0.03 -0.02 2.79
-0.05 -1.05 0.32 -0.19
-0.03 -0.03 -0.02 0.27
-0.03 -0.06 0.05 2.71
-0.32 -1.21 0.25 4.08
1.92 3.1 0.62 5.08