SUNRISE POLICE SCROLL TO RIGHT------> Small Cap
LOCK BUCKHEAD TOTAL EXECUTIVE HERE LOCK LOCK BUCKHEAD TOTAL UNIVERSE HERE LOCK LOCK BUCKHEAD TOTAL RISK HERE LOCK LOCK DHJ EQ. TOTAL EXECUTIVE HERE LOCK LOCK DHJ EQ. UNIVERSE HERE LOCK LOCK DHJ TOTAL RISK HERE LOCK LOCK BUCKHEAD EQUITY EXECUTIVE HERE LOCK LOCK  BUCKHEAD EQUITY UNIVERSE HERE LOCK LOCK BUCKHEAD EQUITY RISK HERE LOCK BUCKHEAD EQUITY EXECUTIVE HERE LOCK LOCK  BUCKHEAD EQUITY UNIVERSE HERE LOCK LOCK BUCKHEAD EQUITY RISK HERE LOCK
Sunrise Police Sunrise Police % Sunrise Police Sunrise Police Sunrise Police Sunrise Police % Sunrise Police Sunrise Police % Sunrise Police Sunrise Police Sunrise Police Sunrise Police
Domestic Equity Domestic Equity Domestic Equity DHJ Large Cap Growth Equity DHJ Large Cap Growth Equity DHJ Large Cap Growth Equity Buckhead (Large Cap Value Equity + Cash) Buckhead (Large Cap Value Equity + Cash) Buckhead (Large Cap Value Equity + Cash) Buckhead (Small Cap Equity + Cash) Buckhead (Small Cap Equity + Cash) Buckhead (Small Cap Equity + Cash)
Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures Executive Summary Universe Comparisons Risk Measures
30 Broad Large Cap Core Equity 32 37 Broad Large Cap Growth Core Equity 41 51 Broad Large Cap Value Core Equity 55 58 Broad Small Cap Value Core 62
Inception date is December 31, 1997 31 3 Yr Inception date is December 31, 1997 39 3 Yr Inception date is December 31, 2002 53 1 Yr Inception date is March 31, 2004 60 Incept Incept
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, 2004 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2005 Batting Average Returns are gross of fees. Incept is December 31, 2002 to March 31, 2005 Batting Average Returns are gross of fees. Incept is March 31, 2004 to March 31, 2005 Batting Average
Account Reconciliation Trailing Returns through March 31, 2004 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2005 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2005 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2005 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 S&P500 Standard Deviation Ending Value S&P500 Standard Deviation Ending Value S&P500 Standard Deviation Ending Value R2000V Standard Deviation
3/31/2004 Return Beta 3/31/2005 Return Beta 3/31/2005 Return Beta 3/31/2005 Return Beta
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
19,769 Universe R-Squared 11,913 Universe R-Squared 13,433 Universe R-Squared 3,724 Universe R-Squared
4,333 5th %-tile Sharpe Ratio -62 5th %-tile Sharpe Ratio 120 5th %-tile Sharpe Ratio -10 5th %-tile Sharpe Ratio
390 25th %-tile Treynor Ratio -341 25th %-tile Treynor Ratio 68 25th %-tile Treynor Ratio -107 25th %-tile Treynor Ratio
24,492 50th %-tile Tracking Error 11,510 50th %-tile Tracking Error 13,621 50th %-tile Tracking Error 3,607 50th %-tile Tracking Error
2004 75th %-tile Information Ratio 2005 75th %-tile Information Ratio 2005 75th %-tile Information Ratio 2005 75th %-tile Information Ratio
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund
19,769   2 Qtrs   4 11,913 2 Qtrs 6 13,433   2 Qtrs   2 3,724 2 Qtrs 2
4,333   14.53 8 -62 7.74 6 120   9.56 2 -10 9.99 0.0999 2
390   33   58.33 -341 24 33.33 68   24   50 -107 53 Batting Average 75
24,492 14.08 -17.77 11,510 6.88 -15.29 13,621 6.88 -0.95 3,607 8.7 0.087 -3.21
12/31/1997 40 14.61 12/31/1997 32 11.55 12/31/2002 59 9.02 3/31/2004 76 13.24
Incept 19.01 32.38 Incept 11.43 26.84 Incept 13.83 9.97 Incept 14.23 16.45
  10,999 15.19 -25.33 10,999 7.49 -23.77   6,658 9.42 7.77 2,986 11.36 15.35
8,274 13.84 20.64 -4,877 5.82 16.79 3,148 7.41 7.03 141 10.15 Standard Deviation 14.26
5,218     12.4 0.99 5,388     4.16 0.89 3,816     6.58 0.83   480 8.72 Beta 0.83  
24,492  24,492,000 9.7 0.67 11,510  11,510,000 2.39 -2.89 13,621  13,621,000 4.16 2.12 0.0212 3,607   3,607,000 5.96 Annualized Alpha 6.96 0.0696
Investment Policy 3 Qtrs 1 Investment Policy 3 Qtrs 0.97 Investment Policy 3 Qtrs 0.84 Investment Policy 3 Qtrs R-Squared 0.66
Index 18.62 -0.03 Index 2.47 -0.11 Index 8.52 0.88 Index 6.46 0.0646 0.97
S&P 500 24 -0.6 S&P 500 35 -1.99 S&P 500 31 7.46 Russell 2000 Value 82 16.59
Total 17.09 1.29 Total 4.89 3.76 Total 4.89 3.06 Total 8.87 0.0887 8.65
Weight 40 0.52 Weight 19 -0.84 Weight 62 0.35 Weight 62 0.64
100 24.7 S&P500 100 7.7 S&P500 100 14.07 S&P500 100 14.7 Policy R2000V
100 18.47 4 100 3.7 5 100 8.99 2 100 10.47 1
Trailing Returns through March 31, 2004 16.8 8 Trailing Returns through March 31, 2005 0.75 7 Trailing Returns through March 31, 2005 6.09 2 Trailing Returns through March 31, 2005 9.57 3
Fund 15.49 41.67 Fund -0.65 66.67 Fund 4.52 50 Fund 6.93 25
S&P500 11.19 -17.28 S&P500 -4.09 -17.28 S&P500 1.83 -2.15 R2000V 2.84 -3.98
Diff   1 Yr   15.39 Diff   1 Yr   15.39 Diff   1 Yr   9.23 Diff 1 Yr 13.21
1 Yr 1 Yr FUND 35.96 0.3596 32.67 1 Yr 1 Yr FUND 3.79 0.0379 32.67 1 Yr 1 Yr FUND 7.77 0.0777 11.38 1 Yr 15.35 0.1535 17.19
35.96 UNIVERSE 34 -24.76 1/3/1900 UNIVERSE 34 -24.76 1/7/1900 UNIVERSE 45 6.69 1/15/1900 14 9.79
35.12 POLICY 35.12 0.3512 20.91 6.69 POLICY 6.69 0.0669 18.58 6.69 POLICY 6.69 0.0669 7.77 9.79 9.79 0.0979 13.89
0.84 39 1 -2.9 16 1 1.08 58 1 5.56 66 1
2 Yr 46.22 0 2 Yr 9.2 0 2 Yr 16.51 0 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 17.01 0
0.76 37.64 1 1/13/1900 4.83 1 1/25/1900 10.51 1 3/31/2004 13.26 1
0.83 34.56 -0.06 20.07 2.07 0.07 20.07 7.12 0.66 Incept 11.57 0.59
-0.07 31.35 -1.26 -6.19 0.38 1.37 5.39 6.06 5.11 15.35 8.51 8.21
3 Yr 25.07 0 3 Yr -3.53 0 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 1.82 0 9.79 2.54 0
1/1/1900 2 Yr Diff -0.39 2 Yr Diff 12/31/2002 2 Yr Diff 5.56 2 Yr Diff
   0.63 0.76   0   1/2/1900 13.88   1    Incept 2 Yr FUND 25.46 0.2546 0   Calendar Year Returns 39.69 1
   1/0/1900 43 0   ################################## 75 -1    20.16 UNIVERSE 14 0   Fund 33.59 -1
  4 Yr 0.83   16.66   4 Yr 20.07   -33.34   15.99 POLICY 20.07 0.2007 0   R2000V 31.77 50
-4.76 41 -0.49 0.44 17 1.99 4.17 51 1.2 Diff 28.81 0.77
-5.48 6.66 -0.78 1/2/1900 23.58 -3.84 Calendar Year Returns 29.25 -0.21 3/31/2005 24.08 0.03
1/0/1900 2.3 -0.29 -1.67 18.64 -5.83 Fund 23.33 -1.41 Qtr 3 Yr -0.74
5 Yr 0.54 -0.57 5 Yr 16.04 0.99 S&P500 20.07 1.08 -2.87 16.04 5.56
-1.83 -0.89 -0.27 -6.07 13.85 -1.79 Diff 19.19 -0.74 -3.98 11.72 0.37
################################# -3.75 -0.01 -3.16 11.6 -0.11 3/31/2005 15.29 -0.17 1.11 9.88 -0.17
-0.63 3 Yr 0.67 -2.91 3 Yr -2.89 Qtr 3 Yr 2.12 2005 8.6 6.96
6 Yr 3 YR FUND 1.3 0.013 0 6 Yr 3 YR FUND -0.39 -0.0039 -0.03 1/0/1900   9.51   -0.16 YTD 2.52 -0.34
1/1/1900 UNIVERSE 31 0.03 ################################## UNIVERSE 49 -0.18 ################################   5.31 0.22 ################################### 4 Yr 0.38
1.83 POLICY 0.63 0.0063 0.66 0.07 POLICY 2.75 0.0275 -3.36 2.64   2.85   2.35 -3.98 19.71 8.38
-0.67 41 1.29 -0.87 18 3.76 2005   2.11 3.06 1.11 15.45 8.65
7 Yr 8 Yr 9 Yr 10 Yr 6.89 5 Yr 5 Yr 7 Yr 5.13 5 Yr 5 Yr YTD -0.2 2 Yr 2004 2003 2002 2001 2000 1999 1998 1997 1996 13.01
12/31/1997 1.67 # of Negative Qtrs 1/3/1900 1.84 # of Negative Qtrs 1/0/1900 4 Yr # of Negative Qtrs Returns in Up Markets 11.82
Incept 0.35 # of Positive Qtrs 2.51 -0.56 # of Positive Qtrs -2.15 10.46 # of Positive Qtrs Fund 5.36
3.26 -0.93 Batting Average 1/0/1900 -2.26 Batting Average 2.64 4.7 Batting Average R2000V 5 Yr
3.91 -3.92 Worst Qtr 8 Yr 9 Yr 10 Yr -4.07 Worst Qtr 2004 2.27 Worst Qtr Ratio 20.13
################################# 4 Yr Best Qtr 12/31/1997 4 Yr Best Qtr 1/11/1900 1.52 Best Qtr 3/31/2004 15.74
Calendar Year Returns -4.76 Range Incept 0.44 Range 1/10/1900 -1.07 Range Incept 12.67
Fund 40 Worst 4 Qtrs 1/4/1900 33 Worst 4 Qtrs 0.42 5 Yr Worst 4 Qtrs 18.8 9.51
S&P500 -5.48 Standard Deviation 4.29 2.11 Standard Deviation 2003 11.11 Standard Deviation 14.3 5.28
Diff 49 Beta 1/0/1900 18 Beta 35.16 4.73 Beta 130.8 6 Yr
3/31/2004 3.81 Annualized Alpha Calendar Year Returns 4.83 Annualized Alpha 1/28/1900 -0.37 Annualized Alpha Returns in Down Markets 21.72
Qtr -2.09 R-Squared Fund 1.13 R-Squared 6.48 -3.36 R-Squared Fund 16.58
2.06 -5.61 Sharpe Ratio S&P500 -1.12 Sharpe Ratio 2002 2001 2000 1999 1998 1997 1996 -5.23 Sharpe Ratio R2000V 14.38
1.69 -6.74 Treynor Ratio Diff -3.23 Treynor Ratio Returns in Up Markets 6 Yr Treynor Ratio Ratio 12.28
1/0/1900 -10.38 Tracking Error 3/31/2005 -5.55 Tracking Error Fund 10.16 Tracking Error 3/31/2004 8.81
2004 5 Yr Information Ratio Qtr 5 Yr Information Ratio S&P500 4.71 Information Ratio Incept 7 Yr
YTD 5 YR FUND -1.83 -0.0183 Fund ################################## 5 YR FUND -6.07 -0.0607 Fund Fund Ratio 2.11   Fund -2.9 12.84
2.06 UNIVERSE 69 8 -2.15 UNIVERSE 20 10 1 Yr   -0.11 2 -4 10.23
1.69 POLICY -1.2 -0.012   12 -0.67 POLICY -3.16 -0.0316 10 8.3   -1.35   6 72.1 7.96
1/0/1900 51 Batting Average 55 2005 11 Batting Average 40 1/11/1900   7 Yr 75 6.39
2003 9.66 -17.77 YTD -2.08 -16.95 74.4 8.19 -0.95 4.06
1/29/1900 1.38 14.61 -2.82 -6.87 11.55 2 Yr 4.43 17.8 8 Yr
28.68 -1.18 32.38 ################################## -9.1 28.5 35.7 2.75 18.75 15.97
0.77 -2.09 -25.89 ################################## -11.05 -33.13 1/31/1900 2.06 7.77 13.53
2002 -4.94 Standard Deviation 18.42 2004 -13.93 Standard Deviation 18.12 114.9 0.33 9.9 11.96
-21.99 6 Yr Beta 0.94   6.06 6 Yr Beta 0.98 12/31/2002 8 Yr 0.97   10.63
-22.1 1.16 Annualized Alpha -0.72 -0.0072 10.88 -0.8 Annualized Alpha -2.97 -0.0297 Incept 11.8 5.17 0.0517 8.6
1/0/1900 67 R-Squared 0.97 -4.82 32 R-Squared 0.94 2/4/1900 8.71 0.86 Calendar Year Returns
6/23/1905 1.83 -0.28 2003 0.07 -0.48 1/31/1900 7.27 2.44 Fund
-11.7 44 -5.48 23.08 26 -8.89 114.9 6.36 24.92 Return
-11.88 7.64 3.6 28.68 6.72 4.27 Returns in Down Markets 4.43 3.76 %-tile
1/0/1900 2.97 -0.17 -5.6 0.17 -0.68 Fund Calendar Year Returns 1.43 R2000V
2000 1.62 Policy S&P500 2002 -2.56 Policy S&P500 S&P500 Fund S&P500 Return
-5.58 0.67 9 -20.58 -4.03 10 Ratio Return 2 %-tile
-9.11 -2.03 11 -22.1 -6.69 10 1 Yr %-tile 6 Universe
3.53 7 Yr 45 1.52 7 Yr 60 -0.5 S&P500 25 5th %-tile
1999 11.91 -17.28 2001 3.06 -17.28 -4 Return -2.15 25th %-tile
8.77 8.12 15.39 -16.13 24 15.39 11.6 %-tile   15.39 50th %-tile
1/21/1900 7.04 32.67 -11.88 2.51 32.67 2 Yr Universe 17.54 75th %-tile
-12.27 5.65 -26.62 -4.25 30 -26.62 -0.5 5th %-tile   6.69 95th %-tile
1998 2.86 Standard Deviation 19.2 6/22/1905 7.29 Standard Deviation 18.01 -4 25th %-tile 9.43 Qtr
30.71 8 Yr 1 -6.27 2.94 1 11.6 50th %-tile 1 QU. FUND -2.87 -0.0287
28.58 11.91 0 -9.11 0.97 0 12/31/2002 75th %-tile 0 UNIVERSE 74
2.13 8.87 1 2.84 -0.89 1 Incept 95th %-tile 1 POLICY -3.98 -0.0398
1997 1996 1995 8.22 -0.24 1999 -2.54 -0.32 ################################ Qtr 1.99 88
Returns in Up Markets 6.8 -4.52 26.62 8 Yr -5.8 -7 QU. FUND 0.49 0.0049 18.78 0.4
Fund 4.05 0 21.04 12.15 0 62.9 UNIVERSE 16 0 -0.8
S&P500 Calendar Year Returns Diff 5.58 7.44 Diff POLICY -2.15 -0.0215 Diff -2.02
Ratio Fund -1 1998 5.99 0 70 0 -2.92
3 Yr Return   1 40.41 4.3   0 2.14   0 -5.15
32.2 %-tile 10 28.58 2.33 -20 -0.16 50 YTD
31.2 S&P500   -0.49 11.83 Calendar Year Returns   0.33 -1.4   1.2 -2.87
103 Return -0.78 1997 1996 Fund -3.84 -2.2 2.41 74
5 Yr %-tile -0.29 Returns in Up Markets Return -4.17 -3.82 1.21 -3.98
31 Universe 0.73 Fund %-tile -6.51 YTD 1.08 88
32.4 5th %-tile -0.78 S&P500 <