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 September 30, 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, 1997 to September 30, 2004 Batting Average Returns are gross of fees. Incept is December 31, 1997 to September 30, 2004 Batting Average
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 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
9/30/2004 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
40,181 Universe R-Squared 24,767 Universe R-Squared 13,845 Universe R-Squared 19,038 Universe R-Squared
398 5th %-tile Sharpe Ratio 971 5th %-tile Sharpe Ratio -283 5th %-tile Sharpe Ratio -308 5th %-tile Sharpe Ratio
-340 25th %-tile Treynor Ratio -754 25th %-tile Treynor Ratio 410 25th %-tile Treynor Ratio -338 25th %-tile Treynor Ratio
40,238 50th %-tile Tracking Error 24,985 50th %-tile Tracking Error 13,973 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
265 -0.86   7 3,707   -1.77   8 -1,589   0.63 9 -942 -1.89   7
486 60 41.67 10   77   25 467   43   50 -240 73 41.67
40,238 0.33   -7.44 24,985 0.04   -17.97 13,973 0.68 -2.27 18,391 -0.02   -5.61
12/31/1997 34 8.62 12/31/1997 47 14.93 12/31/1997 40 5.39 12/31/1997 45 6.85
Incept 2.5 16.06 Incept 2.4 32.9 Incept 3.9 7.66 Incept 2.27 12.46
15,998 0.59 -9.47 10,999 0.71 -25.12 4,811 1.12 0.09 15,998 0.58 -7.44
13,382 -0.39 8.89 10,007 -0.14 18.55 2,511 0.48 4.12 -5,825 -0.3 7.51
10,858 -1.88 0.83 3,978     -1.66 0.99 6,651     0.05 0.95 8,218 -2.07 0.83
40,238  40,238,000 -5.29 -0.23 24,985   24,985,000 -5.24 -0.98 13,973   13,973,000 -0.44 0.31 18,391  18,391,000 -5.49 -1.54
Investment Policy 3 Qtrs 0.99 Investment Policy 3 Qtrs 0.99 Investment Policy 3 Qtrs 0.99 Investment Policy 3 Qtrs 0.95
Index 1.2 0.36 Index 0.31 0.14 Index 3.22 1.13 Index -1.27 0.25
S&P 500 63 3.84 S&P 500 80 2.58 Lehman Aggregate Bond 36 4.89 S&P 500 86 2.23
Lehman Aggregate Bond 2.69 2 Russell 2000 Value 2.18 1.44 Total 3.35 0.47 Lehman Gov/Credit-Intermediate 2.04 2.23
Russell 2000 Value 34 -0.57 Total 46 -0.75 Weight 32 0 Total 48 -1.14
Total 6.19 Policy Weight 7.82 Policy 100 6.1 LBAB Weight 7.52 Policy
Weight 3.19 4 83.3 3.66 4 100 3.65 4 55 3.62 5
50 1.8 8 16.7 1.91 8 Trailing Returns through September 30, 2004 2.79 8 45 1.88 7
40 0.56 58.33 100 0.51 75 Fund 1.69 50 100 0.27 58.33
10 -2.94 -9.11 Trailing Returns through September 30, 2004 -3.26 -17.68 LBAB 0.66 -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 September 30, 2004 1 Yr FUND 7.95 0.0795 19.65 Policy 1 Yr FUND 12.55 0.1255 33.76 1 Yr 1 Yr FUND 3.36 0.0336 8.32 Policy 1 Yr FUND 3.59 0.0359 15.67
Fund UNIVERSE 61 -11.04 Diff UNIVERSE 36 -24.41 3.36 UNIVERSE 45 0.33 Diff UNIVERSE 84 -6.91
Policy POLICY 10.73 0.1073 10.65 1 Yr POLICY 15.46 0.1546 18.66 3.68 POLICY 3.68 0.0368 4.32 1 Yr POLICY 8.81 0.0881 8.81
Diff 40 1 12.55 26 1 -0.32 38 1 3.59 55 1
1 Yr 18.76 0 15.46 23.25 0 2 Yr 12.2 0 8.81 21.62 0
7.95 13.12 1 -2.91 15.66 1 4.44 4.61 1 -5.22 14.25 1
10.73 9.21 0.41 2 Yr 8.67 0.19 4.56 3.13 1.08 2 Yr 9.46 0.5
-2.78 5.04 4.33 18.4 4.25 3.63 -0.12 1.77 4.65 8 5.51 4.4
2 Yr 1.73 0 20.04 0.85 0 3 Yr 0.72 0 12.39 0.93 0
11.12 2 Yr Diff -1.64 2 Yr Diff 1/6/1900 2 Yr Diff -4.39 2 Yr Diff
13.84 11.12   1 3 Yr 18.4     0 6.06 4.44   -1 3 Yr 8   0
-2.72 63 -1 3.96 32   0 0 41 1 3.26 80 0
3 Yr 13.84   -16.66 5.04 20.04     -50 4 Yr 4.56   0 5.81 12.39   -16.66
4.6 47 1.67 ################################## 24 -0.29 1/7/1900 39 0.17 -2.55 56 0.47
5.74 24.94 -1.92 4 Yr 28.63 -1.15 7.85 19.26 -0.49 4 Yr 26.19 -2.74
############################## 18.76 -3.59 -4.51 19.67 -0.86 0.02 6.04 -0.66 ################################ 18.87 -3.21
4 Yr 13.19 1.57 -4.05 14.4 -0.71 5 Yr 3.9 -0.24 2.12 13.51 -0.53
0.74 9.17 -1.76 -0.46 5.69 -0.11 7.61 2.44 -0.2 -3.22 8.55 -1.3
0.86 2.53 -0.17 5 Yr 1.19 -0.01 1/7/1900 1.34 -0.05 5 Yr 1.76 -0.17
-0.12 3 Yr -0.23 -2.07 3 Yr -0.98 -0.01 3 Yr 0.31 2.38 3 Yr -1.54
5 Yr 3 YR FUND 4.6 0.046 -0.01 -1.16 3 YR FUND 3.96 0.0396 -0.01 6 Yr 3 YR FUND 6.06 0.0606 -0.01 3.71 3 YR FUND 3.26 0.0326 -0.05
2.46 UNIVERSE 60 -0.05 -0.91 UNIVERSE 60 -0.05 1/6/1900 UNIVERSE 28 0.05 -1.33 UNIVERSE 70 -0.25
2.58 POLICY 5.74 0.0574 -0.49 6 Yr POLICY 5.04 0.0504 -1.05 1/6/1900 POLICY 6.06 0.0606 0.24 6 Yr POLICY 5.81 0.0581 -2.17
-0.12 48 2 1/1/1900 50 1.44 0.06 28 0.47 1/5/1900 51 2.23
6 Yr 13.99 5 Yr 5 Yr 3.17 18.05 5 Yr 5 Yr 7 Yr 8 Yr 9 Yr 10 Yr 12.23 5 Yr 5 Yr 1/4/1900 14.01 5 Yr 5 Yr
1/4/1900 8.12 # of Negative Qtrs -1.74 9.04 # of Negative Qtrs 12/31/1997 6.3 # of Negative Qtrs 1/0/1900 9.5 # of Negative Qtrs
4.62 5.32 # of Positive Qtrs 7 Yr 8 Yr 9 Yr 10 Yr 4.98 # of Positive Qtrs Incept 4.9 # of Positive Qtrs 7 Yr 8 Yr 9 Yr 10 Yr 5.85 # of Positive Qtrs
-0.44 3.4 Batting Average 12/31/1997 2.51 Batting Average 6.88 3.78 Batting Average 12/31/1997 2.49 Batting Average
7 Yr 8 Yr 9 Yr 10 Yr 0.54 Worst Qtr Incept 0.17 Worst Qtr 6.75 2.17 Worst Qtr Incept -1.28 Worst Qtr
12/31/1997 4 Yr Best Qtr 1/2/1900 4 Yr Best Qtr 1/0/1900 4 Yr Best Qtr 1/6/1900 4 Yr Best Qtr
Incept 0.74 Range 3.7 -4.51 Range Calendar Year Returns 7.87 Range 5.03 -1.1 Range
1/5/1900 59 Worst 4 Qtrs -1.11 80 Worst 4 Qtrs Fund 15 Worst 4 Qtrs 1/1/1900 69 Worst 4 Qtrs
5.27 0.86 Standard Deviation Calendar Year Returns -4.05 Standard Deviation LBAB 7.85 Standard Deviation Calendar Year Returns 2.12 Standard Deviation
-0.13 58 Beta Fund 78 Beta Diff 16 Beta Fund 51 Beta
Calendar Year Returns 8.87 Annualized Alpha Policy 10.93 Annualized Alpha 9/30/2004 9.1 Annualized Alpha Policy 10.9 Annualized Alpha
Fund 4.66 R-Squared Diff 5.01 R-Squared Qtr 7.31 R-Squared Diff 5.79 R-Squared
Policy 1.8 Sharpe Ratio 9/30/2004 2 Sharpe Ratio 2.97 6.37 Sharpe Ratio 9/30/2004 2.17 Sharpe Ratio
Diff -1.69 Treynor Ratio Qtr -3.18 Treynor Ratio 3.2 5.13 Treynor Ratio Qtr -2.3 Treynor Ratio
9/30/2004 -9.22 Tracking Error ################################## -14.85 Tracking Error ################################## 3.24 Tracking Error ################################ -9.09 Tracking Error
Qtr 5 Yr Information Ratio -1.53 5 Yr Information Ratio 6/26/1905 5 Yr Information Ratio 0.19 5 Yr Information Ratio
############################## 5 YR FUND 2.46 0.0246 Fund ################################## 5 YR FUND -2.07 -0.0207 Fund YTD 5 YR FUND 7.61 0.0761 Fund ################################ 5 YR FUND 2.38 0.0238 Fund
0.37 UNIVERSE 70 9 2004 UNIVERSE 90 9 3.22 UNIVERSE 13 4 2004 UNIVERSE 69 9
############################## POLICY 2.58 0.0258 11 YTD POLICY -1.16 -0.0116 11 3.35 POLICY 7.62 0.0762 16 YTD POLICY 3.71 0.0371 11
2004 69 Batting Average 60 1/0/1900 87 Batting Average 40 -0.13 13 Batting Average 50 -1.27 55 Batting Average 50
YTD 9.77 -7.44 2.18 12.39 -17.97 2003 8.55 -2.27 2.04 10.92 -7.29
1.2 5.86 8.62 -1.87 5.86 14.93 1/4/1900 7.02 5.39 -3.31 6.78 10.46
2.69 4.04 16.06 2003 3.58 32.9 4.11 6.22 7.66 2003 4.15 17.75
-1.49 2.03 -9.99 29.32 1.02 -26 0.02 5.11 0.09 13.64 1.27 -13.1
2003 -2.53 Standard Deviation 8.65 30.42 -4.63 Standard Deviation 17.75   6/24/1905 3.51 Standard Deviation 3.92 17.65 -3.82 Standard Deviation 9.21
16.85 6 Yr Beta 0.82 ################################## 6 Yr Beta 0.93   10.98 6 Yr Beta 0.94   -4.01 6 Yr Beta 1.02
19.45 4.18 Annualized Alpha 0.26 0.0026 2002 1.43 Annualized Alpha -1.03 -0.0103 10.95 6.11 Annualized Alpha 0.46 0.0046 2002 5.1 Annualized Alpha -1.3 -0.013
############################## 61 R-Squared 0.98 -21.11 92 R-Squared 0.96 0.03 17 R-Squared 0.98 ################################ 52 R-Squared 0.88
2002 4.62 -0.06 ################################## 3.17 -0.28 2001 6.05 1.19 -6.27 4.21 -0.06
-7.7 54 -0.61 ################################## 68 -5.41 1/8/1900 18 4.95 -0.13 68 -0.57
-9.09 12.3 2.19 2001 14.06 3.64 8.43 6.98 0.61 2001 10.98 3.25
1/1/1900 7.75 -0.05 -12.36 7.57 -0.25 0.36 5.76 -0.02 ################################ 7.19 -0.41
2001 4.83 Policy Policy -13.47 4.19 Policy Policy 2000 5.12 Policy LBAB -1.65 5.27 Policy Policy
-3.37 3.53 9 1.11 2.77 9 11.24 4.5 5 -2.81 3.6 9
-4.78 1.6 11 2000 0.12 11 1/11/1900 3.47 15 2000 0.78 11
1.41 7 Yr 40 -6.79 7 Yr 60 -0.71 7 Yr 50 1.47 7 Yr 50
2000 7.88 -9.11 -9.85 8.33 -17.68 1999 7.39 -2.44 1.22 8.49 -6.08
0.7 5.49 10.54 3.06 5.31 16.08 -1.19 6.3 5.88 0.25 5.95 9.59
-1.52 4.36 19.65 1999 4.24 33.76 -2.05 5.69 8.32 1999 4.21 15.67
2.22 3.39 -12.48 8.77 2.96 -26.85 0.86 4.91 0.33 15.52 2.55 -8.19
1999 1.39 Standard Deviation 10.42 21.04 0.39 Standard Deviation 18.69 1998 3.43 Standard Deviation 4.15 7.59 -0.51 Standard Deviation 8.46
6.98 8 Yr 1 -12.27 8 Yr 1 9.83 8 Yr 1 7.93 8 Yr 1
11.44 9.39 0 1998 11.23 0 9.53 7.72 0 1998 9.02 0
-4.46 7.07 1 30.71 8.15 1 0.3 6.7 1 29.92 7.03 1
1998 5.42 -0.04 28.58 5.31 -0.22 1997 1996 1995 6.1 1.12 15.57 5.57 0.09
23.44 4.21 -0.38 2.13 3.85 -4.12 Returns in Up Markets 5.26 4.66 14.35 4.24 0.75
21.37 2.09 0 1997 1996 1995 1.69 0 Fund 4.2 0 1997 1996 1995 1.75 0
2.07 Calendar Year Returns Diff