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
2 40%BLCC, 10%BSCVC, 10%BSC, 24%IFI, 16%BFI 22 23 66.6% BLC Core, 16.7% BSCV Core, 16.7% BSC 25 28 62.5% Intermediate FI, 37.5% Broad FI 30 Inception date is December 31, 1997 55% Broad LC Growth Equity, 45% IFI 3 Yr
Inception date is December 31, 1997 4 3 Yr Inception date is December 31, 1997 24 3 Yr Inception date is December 31, 1997 29 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, 2008 Batting Average
Returns are net of fees. Incept is December 31, 1997 to March 31, 2008 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2008 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2008 Batting Average Account Reconciliation Trailing Returns through March 31, 2008 Worst Qtr
Account Reconciliation Trailing Returns through March 31, 2008 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2008 Worst Qtr Account Reconciliation Trailing Returns through March 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 3/31/2008 Return Beta
3/31/2008 Return Beta 3/31/2008 Return Beta 3/31/2008 Return Beta Qtr %-tile Annualized Alpha
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha 19,182 Universe R-Squared
52,999 Universe R-Squared 30,818 Universe R-Squared 20,248 Universe R-Squared -1,952 5th %-tile Sharpe Ratio
551 5th %-tile Sharpe Ratio -4,203 5th %-tile Sharpe Ratio -385 5th %-tile Sharpe Ratio -198 25th %-tile Treynor Ratio
-1,850 25th %-tile Treynor Ratio -2,285 25th %-tile Treynor Ratio 586 25th %-tile Treynor Ratio 17,032 50th %-tile Tracking Error
51,701 50th %-tile Tracking Error 24,330 50th %-tile Tracking Error 20,449 50th %-tile Tracking Error 2,008 75th %-tile Information Ratio
2008 75th %-tile Information Ratio 2008 75th %-tile Information Ratio 2008 75th %-tile Information Ratio YTD 95th %-tile Fund
YTD 95th %-tile Fund YTD 95th %-tile Fund YTD 95th %-tile Fund 18,533 1 Yr 2
54,074 1 Yr 3 33,783   1 Yr   3 19,418   1 Yr   4 -1,663 7.24 0.0724 10
836 -0.44 -0.0044 9 -5,235   -6.12 -0.0612 9 -208   9.83 0.0983 8 162 2   41.67
-3,209 15 41.67 -4,218   40   41.67 1,239   1   50 17,032 3.75 0.0375 -2.32
51,701 -0.83 -0.0083 -3.47 24,330 -7.01 -0.0701 -7.54 20,449 8.61 0.0861 -0.44 35,795 19   4.24
12/31/1997 19 4.06 12/31/1997 58 6.31 12/31/1997 3 3.63 Incept 5.45 6.56
Incept 1.15 7.53 Incept -1.3 13.85 Incept 7.39 4.07 15,998 2.8 3.12
15,998 -1.44 -0.44 10,999 -5.08 -6.12 4,811 5.25 -0.36 -11,460 0.6 4.23
16,246 -2.79 5.21 3,054 -6.69 8.85 5,735 3.29 2.75 12,493 -1.48 0.75
19,456 -4.25 0.98 10,276     -7.99 0.97 9,903     1.17 0.98 17,032  17,032,000 -4.88 1.73
51,701  51,701,000 -6.85 -0.86 24,330   24,330,000 -11.84 -0.87 20,449   20,449,000 -2.45 0.47 Investment Policy     2 Yr 0.78
Investment Policy 2 Yr 0.92 Investment Policy 2 Yr 0.95 Investment Policy 2 Yr 0.97 Index 5.93 0.0593 0.52
Index 3.36 0.0336 0.12 Index 1.22 0.0122 0.04 Index 8 0.08 0.71 Russell 1000 Growth 5 2.95
S&P 500 28 0.65 S&P 500 60 0.36 Lehman Gov/Credit-Intermediate 1 1.99 Lehman Gov/Credit-Intermediate 5.22 0.0522 2.33
Lehman Gov/Credit-Intermediate 4.27 0.0427 1.46 S&P Midcap 400 1.87 0.0187 2.07 LBAB A+ 7.62 0.0762 0.49 Total 12 0.1
LBAB A+ 9 -0.69 Russell 2000 Value 38 -0.54 Total 2 0.73 Weight 5.7 Policy
Other 4.88 Policy Total 5.07 Policy Weight 6.78 Policy 55 4.33 2
Weight 3.4 3 Weight 2.25 3 62.5 5.61 4 45 3.36 10
40 2.73 9 66.6 1.57 9 37.5 4.58 8 100 2.15 58.33
24 1.91 58.33 16.7 0.47 58.33 100 3.64 50 Trailing Returns through March 31, 2008 0.04 -4.33
16 0.63 -4.29 16.7 -1.49 -8.86 Trailing Returns through March 31, 2008 1.91 -0.68 Fund 3 Yr 3.71
20 3 Yr 4.72 100   3 Yr 7.09 Fund   3 Yr   3.81 Policy 1 Yr FUND 6.42 0.0642 8.04
Trailing Returns through March 31, 2008 1 Yr FUND 4.85 0.0485 9.01 Trailing Returns through March 31, 2008 1 Yr FUND 4.56 0.0456 15.95 Policy 1 Yr FUND 6.16 0.0616 4.49 Diff UNIVERSE 13   3.32
Fund UNIVERSE 62 -0.83 Fund UNIVERSE 82 -7.01 Diff UNIVERSE 7 -0.81 1 Yr POLICY 6.18 0.0618 4.98
Policy POLICY 5.86 0.0586 5.09 Policy POLICY 5.68 0.0568 8.92 1 Yr POLICY 5.8 0.058 2.77 7.24 18   1
Diff 19 1 Diff 42 1 9.83 10 1 3.75 7.02 0
1 Yr 7.14 0 1 Yr 8.76 0 8.61 6.52 0 3.49 5.96 1
-0.44 5.6 1 -6.12 6.17 1 1.22 4.79 1 2 Yr 4.98 0.4
-0.83 5 0.32 -7.01 5.53 0.16 2 Yr 4.2 0.57 5.93 4.18 1.97
0.39 4.51 1.65 0.89 4.83 1.47 8 3.65 1.59 5.22 3.01 0
2 Yr 3.51 0 2 Yr 3.35 0 7.62 2.43 0 0.71 4 Yr Diff
3.36 4 Yr Diff 1.22 4 Yr Diff 1/0/1900 4 Yr Diff 3 Yr 5.33 0.0533 0
4.27 4.75 0.0475 0 1.87 5.26 0.0526   0 3 Yr 4.88 0.0488 0 6.42 12   0
-0.91 70 0 -0.65 77   0 6.16 18 0 6.18 4.76 0.0476 -16.66
3 Yr 5.61 0.0561 -16.66 3 Yr 6.07 0.0607   -16.66 5.8 4.62 0.0462 0 0.24 29   2.01
4.85 29 0.82 1/4/1900 47 1.32 1/0/1900 20 0.24 4 Yr 5.93 0.53
5.86 7.19 -0.66 5.68 9.05 -0.78 4 Yr 6.44 -0.18 5.33 4.85 -1.48
-1.01 5.69 -1.48 -1.12 6.81 -2.1 4.88 4.33 -0.42 1/4/1900 4.25 -0.2
4 Yr 5.05 0.39 4 Yr 5.97 0.89 4.62 3.61 0.45 0.57 3.56 -0.75
4.75 4.61 0.12 5.26 5.32 -0.07 0.26 2.91 -0.02 5 Yr 2.37 -0.25
5.61 3.67 -0.02 6.07 3.85 -0.03 5 Yr 1.98 -0.02 7.07 5 Yr 1.73
-0.86 5 Yr -0.86 -0.81 5 Yr -0.87 4.93 5 Yr 0.47 7.57 3 YR FUND 7.07 0.0707 -0.22
5 Yr 3 YR FUND 7.72 0.0772 -0.08 5 Yr 3 YR FUND 10.96 0.1096 -0.05 4.78 3 YR FUND 4.93 0.0493 -0.03 -0.5 UNIVERSE 55   0.12
7.72 UNIVERSE 90 -0.2 10.96 UNIVERSE 83 -0.12 1/0/1900 UNIVERSE 27 0.14 6 Yr POLICY 7.57 0.0757 0.98
9.16 POLICY 9.16 0.0916 -1 1/11/1900 POLICY 11.92 0.1192 -1.11 6 Yr POLICY 4.78 0.0478 0.4 4.5 35   2.33
-1.44 47 1.46 ################################## 53 2.07 6.24 28 0.49 1/4/1900 8.84 5 Yr 5 Yr
6 Yr 11.53 5 Yr 5 Yr 6 Yr 15.55 5 Yr 5 Yr 6.13 9.87 5 Yr 5 Yr ################################ 7.8 # of Negative Qtrs
1/4/1900 9.77 # of Negative Qtrs 3.92 13.11 # of Negative Qtrs 1/0/1900 5.21 # of Negative Qtrs 7 Yr 7.2 # of Positive Qtrs
5.5 9.04 # of Positive Qtrs 4.84 12.01 # of Positive Qtrs 7 Yr 3.94 # of Positive Qtrs 4.43 6.56 Batting Average
-0.86 8.39 Batting Average ################################## 11.27 Batting Average 6.1 3.26 Batting Average 1/4/1900 5.59 Worst Qtr
7 Yr 7.31 Worst Qtr 7 Yr 9.7 Worst Qtr 5.9 2.33 Worst Qtr 0.05 6 Yr Best Qtr
1/4/1900 6 Yr Best Qtr 1/3/1900 6 Yr Best Qtr 1/0/1900 6 Yr Best Qtr 8 Yr 4.5 0.045 Range
4.96 4.64 0.0464 Range 3.96 3.92 0.0392 Range 8 Yr 6.24 0.0624 Range 1/2/1900 34 Worst 4 Qtrs
-0.55 66 Worst 4 Qtrs ################################## 84 Worst 4 Qtrs 6.89 14 Worst 4 Qtrs 1/1/1900 4.78 0.0478 Standard Deviation
8 Yr 5.5 0.055 Standard Deviation 8 Yr 4.84 0.0484 Standard Deviation 6.68 6.13 0.0613 Standard Deviation 1/1/1900 24 Beta
1/2/1900 30 Beta -0.02 52 Beta 1/0/1900 15 Beta 9 Yr 5.67 Annualized Alpha
1/3/1900 6.9 Annualized Alpha 0.24 7.64 Annualized Alpha 9 Yr 8.63 Annualized Alpha 1/3/1900 4.72 R-Squared
-0.26 5.65 R-Squared ################################## 5.95 R-Squared 6.28 5.44 R-Squared 2.86 4.15 Sharpe Ratio
9 Yr 4.98 Sharpe Ratio 9 Yr 4.87 Sharpe Ratio 6.14 4.7 Sharpe Ratio 1/1/1900 3.64 Treynor Ratio
1/3/1900 4.39 Treynor Ratio 1.15 4.21 Treynor Ratio 1/0/1900 3.98 Treynor Ratio 10 Yr 2.5 Tracking Error
1/3/1900 3.66 Tracking Error 1/2/1900 2.89 Tracking Error 10 Yr 2.91 Tracking Error 1/5/1900 7 Yr Information Ratio
-0.44 7 Yr Information Ratio ################################## 7 Yr Information Ratio 1/6/1900 7 Yr Information Ratio 1/3/1900 5 YR FUND 4.43 0.0443 Fund
10 Yr 5 YR FUND 4.41 Fund 10 Yr 5 YR FUND 3.57 Fund 1/6/1900 5 YR FUND 6.1 0.061 Fund 1/1/1900 UNIVERSE 16   5
1/4/1900 UNIVERSE 53 6 2.68 UNIVERSE 73 5 0.18 UNIVERSE 16 7 12/31/1997 POLICY 4.38 0.0438 15
1/4/1900 POLICY 4.96 14 1/3/1900 POLICY 3.96 15 12/31/1997 POLICY 5.9 0.059 13 Incept 17   Batting Average 35
-0.43 31 Batting Average 35 ################################## 55 Batting Average 40 Incept 18 Batting Average 45 1/6/1900 4.95 -2.32
12/31/1997 6.22 -3.47 12/31/1997 7.04 -7.54 6.37 7.52 -2.27 4.31 4.09 6.85
Incept 5.2 8.62 Incept 5.17 14.93 1/6/1900 5.29 3.63 2.22 3.5 9.17
1/5/1900 4.46 12.09 3.94 4.09 22.47 1/0/1900 4.65 5.9 Fiscal Year Returns Ending September 2.89 2.13
5.63 3.85 -0.44 4.8 3.5 -6.12 Fiscal Year Returns Ending September 4.04 -0.36 Fund 1.67 Standard Deviation 4.94
-0.32 2.9 Standard Deviation 6.08 ################################## 2.07 Standard Deviation 10.94   Fund 3.14 Standard Deviation 3.36 Policy 8 Yr Beta 0.75
Fiscal Year Returns Ending September 8 Yr Beta 0.89 Fiscal Year Returns Ending September 8 Yr Beta 0.96   Policy 8 Yr Beta 0.99   Diff 2.43 Annualized Alpha 1.35 0.0135
Fund 2.77 Annualized Alpha -0.37 -0.0037 Fund -0.02 Annualized Alpha -0.38 -0.0038 Diff 6.89 Annualized Alpha 0.2 0.002 3/31/2008 33 R-Squared 0.84  
Policy 42 R-Squared 0.94 Policy 59 R-Squared 0.96 3/31/2008 8 R-Squared 0.98 Qtr 1.19 0.82
Diff 3.03 0.77 Diff 0.24 0.72 Qtr 6.68 0.57 -0.96 66 5.39
3/31/2008 35 5.27 3/31/2008 52 8.26 1/2/1900 10 1.92 -4.33 3.9 2.47
Qtr 5.79 1.65 Qtr 5.71 2.13 2.79 7.33 0.5 3.37 2.72 -0.2
-3.47 3.75 -0.87 -7.54 2.83 -0.45 0.13 5.7 0.3 6/30/1905 1.75 Policy Policy
-4.29 2.47 Policy Policy -8.86 0.3 Policy Policy 2008 5.2 Policy Policy YTD 0.77 5
0.82 1.75 5 1.32 -0.63 5 YTD 4.62 7 0.97 -1.06 15
2008 -0.21 15 2008 -4.17 15 1/6/1900 3.46 13 -3.45 9 Yr 65
YTD 9 Yr 65 YTD 9 Yr 60 5.84 9 Yr 55 4.42 3.99 -4.33
-5.89 3.45 -4.29 -12.91 1.15 -8.86 0.55 6.28 -2.44 2007 17 9
-5.44 52 10.54 -12.5 86 16.08 2007 9 3.81 10.97 2.86 13.33
-0.45 3.89 14.83 -0.41 2.03 24.94 6.1 6.14 6.25 12.99 53 0.61
2007 38 -0.83 2007 64 -7.01 5.49 10 -0.81 -2.02 5 Standard Deviation 6.03
11.96 5.74 Standard Deviation 6.66 16.64 6.27 Standard Deviation 11.24 0.61 6.87 Standard Deviation 3.36 2006 3.67 1
11.03 4.48 1 14.69 4.26 1 2006 5.17 1 3.73 2.94 0
0.93 3.48 0 1.95 2.45 0 3.48 4.56 0 4.97 2.1 1
2006 2.92 1 2006 1.64 1 3.67 4.1 1 -1.24 0.84 0.75
6.57 1.97 0.92 9.02 0.21 0.79 -0.19 3.42 0.52 2005 10 Yr 4.54
8.28 10 Yr 6.13 11.36 10 Yr 8.89 2005 10 Yr 1.75 8.2 5.69 0
-1.71 4.45 0 ################################## 2.68 0 1/2/1900 6.36 0 7.07 5 Diff
2005 32 Diff 2005 83 Diff 2.8 5 Diff 1.13 3.86 0
1/8/1900 4.88 1 12.84 3.56 0 0.15 6.18 0 6/26/1905 35 0
9.06 20   -1 13.21 51   0 2004 5   0 3.06 5.56   -30
-0.64 5.67 -30 -0.37 6.03 -20 3.36 6.03 -10 5.45 4.12 2.01
2004 4.62   0.82 2004 4.26   1.32 3.68 5.13   0.17 -2.39 3.5   -2.15
7.44 4.1 -1.92 12.55 3.57 -1.15 -0.32 4.62 -0.18 2003 2.79 -4.16
10.73 3.69 -2.74 15.46 2.94 -2.47 6/25/1905 4.15 -0.35 12.61 1.55 1.52
-3.29 2.57 0.39 -2.91 1.65 0.89 5.52 3.43 0.45 16.84 Fiscal Year Returns Ending September -1.09
2003 Fiscal Year Returns Ending September -0.58 6/25/1905 Fiscal Year Returns Ending September -0.3 5.44 Fiscal Year Returns Ending September 0 ################################ Fund -0.25
14.37 Fund -0.11 24.55 Fund -0.04 0.08 Fund -0.01 2002 Return 1.35
1/17/1900 Return   -0.37 24.8 Return   -0.38 6/24/1905 Return   0.2 ################################ %-tile   -0.16
-2.67 %-tile -0.06 -0.25 %-tile -0.04 9.39 %-tile -0.02 -7.3 Policy 0.07
2002 Policy   -0.15 6/24/1905 Policy   -0.07 9.11 Policy   0.05 1/1/1900 Return   0.85
-7.32 Return -0.86 -19.84 Return -0.63 0.28 Return 0.17 2001 %-tile 2.47
############################## %-tile 1.65 -19.57 QU. FUND %-tile 2.13 6/23/1905 %-tile 0.5 ################################ Universe   10 Yr
1.45 Universe 10 Yr -0.27 UNIVERSE Universe 10 Yr 13.48 Universe 10 Yr -20.13 5th %-tile # of Negative Qtrs
2001 5th %-tile # of Negative Qtrs 6/23/1905 POLICY 5th %-tile # of Negative Qtrs 13.41 5th %-tile # of Negative Qtrs 1/7/1900 25th %-tile   # of Positive Qtrs
-9.99 25th %-tile # of Positive Qtrs -26 25th %-tile # of Positive Qtrs 0.07 25th %-tile # of Positive Qtrs 2000 QU. FUND 50th %-tile Batting Average
############################## QU. FUND 50th %-tile Batting Average ################################## 50th %-tile Batting Average 6/22/1905 QU. FUND 50th %-tile Batting Average 17.54 UNIVERSE 75th %-tile Worst Qtr
2.49 UNIVERSE 75th %-tile Worst Qtr 0.85 75th %-tile Worst Qtr 6.57 UNIVERSE 75th %-tile Worst Qtr 15.51 POLICY 95th %-tile Best Qtr
6/22/1905 POLICY 95th %-tile Best Qtr 6/22/1905 95th %-tile Best Qtr 6.72 POLICY 95th %-tile Best Qtr 1/2/1900 Qtr Range
9.62 Qtr Range 8.31 Qtr Range -0.15 Qtr Range 1999 -0.96 -0.0096 Worst 4 Qtrs
1/9/1900 -3.47 -0.0347 Worst 4 Qtrs 1/11/1900 -7.54 -0.0754 Worst 4 Qtrs 6/21/1905 2.92 0.0292 Worst 4 Qtrs 19.87 1 Standard Deviation
-0.14 1 Standard Deviation -2.99 3 Standard Deviation -1.1 2 Standard Deviation 1/8/1900 -4.33 -0.0433 Beta
6/21/1905 -4.29 -0.0429 Beta 6/21/1905 -8.86 -0.0886 Beta -1.48 2.79 0.0279 Beta 1/11/1900 11   Annualized Alpha
13.24 5 Annualized Alpha 20.9 28 Annualized Alpha 0.38 2 Annualized Alpha Returns in Up Markets -3.93 R-Squared
1/15/1900 -4.34 R-Squared 27.81 -7.71 R-Squared Returns in Up Markets 2.27 R-Squared Fund -5.15 Sharpe Ratio
-2.23 -5.16 Sharpe Ratio -6.91 -8.81 Sharpe Ratio Fund 1.12 Sharpe Ratio Policy -5.96 Treynor Ratio
Returns in Up Markets -5.79 Treynor Ratio Returns in Up Markets -9.54 Treynor Ratio Policy 0.33 Treynor Ratio Ratio -6.83 Tracking Error
Fund -6.46 Tracking Error Fund -10.27 Tracking Error Ratio -0.79 Tracking Error 3 Yr -8.4 Information Ratio
Policy -7.47   Information Ratio Policy -11.77   Information Ratio 3 Yr -3.02   Information Ratio 9.2 YTD   Fund
Ratio YTD Fund Ratio YTD Fund 1/10/1900 YTD Fund 1/10/1900 0.97 14
3 Yr -5.89   15 3 Yr -12.91 15 9.7 6.39   11 89.2 1   26
10.3 18 25 1/14/1900 56 25 103.8 1 29 5 Yr -3.45 47.5
11.1 -5.44 52.5 15.1 -12.5 42.5 5 Yr 5.84 50 11.7 12   -7.29
4/1/1900 9 -7.44 93.6 42 -17.97 1/9/1900 2 -2.27 1/13/1900 -2.72 14.62
5 Yr -5.11 12.53 5 Yr -10.27   19.75 9 5.04 5.39 87.2 -4.42   21.91
13.1 -6.3 19.97 1/21/1900 -11.88 37.72 100.8 3.38 7.66 10 Yr 2004 FUND -5.56 -0.0556 -13.1
1/14/1900 2004 FUND -7.3 -0.073 -9.99 22.3 2004 FUND -12.75 -0.1275 -26 10 Yr 2004 FUND 1.76 0.0176 -1.19 15.3 UNIVERSE -6.89 8.58
3/28/1900 UNIVERSE -8.22 8.29 4/5/1900 UNIVERSE -13.6 15.74 1/10/1900 UNIVERSE 0.14 3.8 15.4 POLICY -9.02 -0.0902 0.84
10 Yr POLICY -9.53 -0.0953 0.89 10 Yr POLICY -15.51 -0.1551 0.94 1/10/1900 POLICY -2.86 -0.0286 0.97 99.4 2007   2.42
1/15/1900 2007 0.11 0.0011 1/25/1900 2007 -0.66   100.2 2007 0.38 0.0038 12/31/1997 10.97 0.81 0.0081
1/17/1900 11.96   0.96 1/26/1900 16.64 0.96 12/31/1997 6.1 0.98 Incept 72   0.25
3/30/1900 28 0.11 4/3/1900 32 -0.06 Incept 17 0.74 16.3 12.99 2.54
12/31/1997 11.03 1 12/31/1997   14.69   -0.94 10.1 5.49   2.89 1/15/1900 46   4.04
Incept 51 1.91 Incept   72 3.15 10.1 21 0.59 4/12/1900 17.32 0.45
16.5 14.44 -0.23 26.6   20.99   -0.28 100.4 7.7   0.31 Returns in Down Markets 13.97   Policy
1/17/1900 12.09 Policy 28.1 17 Policy Returns in Down Markets 5.02 Policy Fund 2003 FUND 12.73 0.1273 14
92.3 2003 FUND 11.06 0.1106 15 94.8 2003 FUND 15.66 0.1566 15 Fund 2003 FUND 4.06 0.0406 12 Policy UNIVERSE 10.65 26
Returns in Down Markets UNIVERSE 10.15 25 Returns in Down Markets UNIVERSE 14.53 25 Policy UNIVERSE 3.35 28 Ratio POLICY 7.15 0.0715 52.5
Fund POLICY 8.22 0.0822 47.5 Fund POLICY 11.19 0.1119 57.5 Ratio POLICY 2.42 0.0242 50 3 Yr 2006   -9.05
Policy 2006 -9.11 Policy 2006 -17.68 3 Yr 2006 -2.44 -3.3 3.73 11.93
Ratio 6.57   12.55 Ratio 9.02 21.3 -1.3 3.48 5.88 -6.3 76   20.98
3 Yr 79 21.66 3 Yr 74 38.98 -1.7 63 8.32 51.7 4.97 -20.13
-7.5 8.28 -12.48 -15 11.36   -26.85 78.4 3.67   -2.05 5 Yr 50   9.25
-6.4 33 9.19 -13.9 23 16.51 5 Yr 57 3.88 -5.8 7.76 1
117 10.04 1 107.9 13.81   1 -2.4 7.4   1 ################################ 6.18   0
5 Yr 8.63 0 5 Yr 11.18 0 -2.7 4.68 0 69.4 2002 FUND 4.94 0.0494 1
-7 2002 FUND 7.69 0.0769 1 -15.3 2002 FUND 10.26 0.1026 1 89.2 2002 FUND 3.82 0.0382 1 10 Yr UNIVERSE 3.81 0.03
############################## UNIVERSE 6.82 0.14 -14.1 UNIVERSE 8.91 0 10 Yr UNIVERSE 3.26 0.68 -10 POLICY 1.46 0.0146 0.3
108.4 POLICY 4.92 0.0492 1.32 108.3 POLICY 5.71 0.0571 0 ################################## POLICY 2.51 0.0251 2.62 -14.5 2005   0
10 Yr 2005 0 10 Yr 2005 0 ################################## 2005 0 68.9 8.2 Diff
-11.6 8.42   Diff -26.2 12.84 Diff 80.1 2.95 Diff 12/31/1997 44   0
-12.6 85 0 ################################## 72 0 12/31/1997 57 -1 Incept 7.07 0
91.5 9.06 0 4/9/1900 13.21   0 Incept 2.8   1 -10 72   -5
12/31/1997 70 5 12/31/1997 66 -15 -2.1 60 0 -14.5 11.49 1.76
Incept 13.28 1.67 Incept 19.23   -0.29 -2.7 8.49   0.17 68.9 9.27   2.69
-11.6 11.18 -0.02 -26.2 16.21 -1.55 80.1 4.78 -0.49 2001 FUND 7.9 0.079 0.93
-12.6 2001 FUND 9.84 0.0984 -1.69 -26 2001 FUND 13.95 0.1395 -1.26 2001 FUND 3.31 0.0331 -0.66 UNIVERSE 6.95 7.03
91.5 UNIVERSE 8.83 2.49 100.8 UNIVERSE 12.66 0.85 UNIVERSE 2.14 0.86 POLICY 5.61 0.0561 -0.67
POLICY 7.86 0.0786 -0.9 POLICY 10.9 0.109 -0.77 POLICY 1.11 0.0111 -0.08 2004   -0.16
2004 -0.11 2004 -0.06 2004 -0.03 3.06 2.42
7.44   0.11 12.55 -0.66 3.36 0.38 98   -0.19
96 -0.04 85 -0.04 66 -0.02 5.45 0.22
10.73 -0.03 15.46   -0.06 3.68   0.06 76   2.24
58 -0.32 50 -0.94 57 0.27 10.34 4.04
15.07 1.91 20.99   3.15 12.1   0.59 7.97   Incept
12.8 Incept 17.47 Incept 5.79 Incept 2000 FUND 6.57 0.0657 # of Negative Qtrs
2000 FUND 11.16 0.1116 # of Negative Qtrs 2000 FUND 15.45 0.1545 # of Negative Qtrs 2000 FUND 4.02 0.0402 # of Negative Qtrs UNIVERSE 5.53 # of Positive Qtrs
UNIVERSE 9.84 # of Positive Qtrs UNIVERSE 13.7 # of Positive Qtrs UNIVERSE 2.71 # of Positive Qtrs POLICY 3.88 0.0388 Batting Average
POLICY 7.45 0.0745 Batting Average POLICY 9.74 0.0974 Batting Average POLICY 1.06 0.0106 Batting Average 2003 Worst Qtr
2003 Worst Qtr 2003 Worst Qtr 2003 Worst Qtr 12.61 Best Qtr
14.37 Best Qtr 24.55 Best Qtr 5.52 Best Qtr 76 Range
82 Range 37 Range 33 Range 16.84 Worst 4 Qtrs
17.04 Worst 4 Qtrs 24.8 Worst 4 Qtrs 5.44 Worst 4 Qtrs 27 Standard Deviation
35 Standard Deviation 33 Standard Deviation 33 Standard Deviation 21.88 Beta
25.21 Beta 30.37 Beta 27.31 Beta 17.05 Annualized Alpha
18.57 Annualized Alpha 25.48 Annualized Alpha 6.97 Annualized Alpha 14.57 R-Squared
16.16 R-Squared 23.76 R-Squared 3.76 R-Squared 12.66 Sharpe Ratio
14.85 Sharpe Ratio 22.04 Sharpe Ratio 2.87 Sharpe Ratio 9.79 Treynor Ratio
12.73 Treynor Ratio 19.06 Treynor Ratio 1.34 Treynor Ratio 2002 Tracking Error
2002 Tracking Error 2002 Tracking Error 2002 Tracking Error -5.61 Information Ratio
-7.32 Information Ratio -19.84 Information Ratio 9.39 Information Ratio 19 Fund
36 Fund 79 Fund 7 Fund -7.3 14
-8.77 15 -19.57 15 9.11 11 47 27
63 26 72 26 10 30 -3.91 48.78
-4.18 53.66 -11.99 43.9 9.57 51.22 -6.1 -7.29
-6.64 -7.44 -15.92 -17.97 8.26 -2.27 -7.5 14.62
-8.06 12.53 -17.85 19.75 6.61 5.39 -9.29 21.91
-9.47 19.97 -19.7 37.72 4.54 7.66 -12.96 -13.1
-12.09 -9.99 -21.28   -26 -3.94 -1.19 2001 8.87
2001 8.62 2001 16.06 2001 3.75 -13.1 0.86
-9.99 0.9 -26   0.94 13.48 0.97 49 2.78
33 0.21 48 -0.58 4 0.39 -20.13 0.8
-12.48 0.96 -26.85 0.97 13.41 0.98 87 0.33
52 0.2 53 0.02 5 0.74 -3.11 3.41
1.57 1.9 -5.11   0.36 13.25 2.86 -9.03 4.17
-7.87 1.92 -19 3.11 11.22 0.58 -13.3 0.53
-12.27 -0.17 -26.58   -0.28 9.77 0.33 -17.22 Policy
-15.25 Policy -29.15 Policy 7.43 Policy -23.92 14
-22.27 15 -41.09 15 -9.74 12 2000 27
2000 26 2000 26 2000 29 17.54 51.22
9.62 46.34 8.31 56.1 6.57 48.78 39 -9.05
52 -9.11 84 -17.68 15 -2.44 15.51 11.93
9.76 12.55 11.3 21.3 6.72 5.88 49 20.98
50 21.66 62 38.98 13 8.32 34.55 -20.13
24.09 -12.48 35.22 -26.85 7.98 -2.05 20.59 9.24
12.89 9.38 16.8 16.78 6.18 3.84 15.23 1
9.74 1 12.26 1 5.28 1 10.73 0
7.86 0 10.02 0 4.33 0 6.56 1
3.35 1 1.53 1 0.35 1 0.08
0.22 0.07 0.67 0.71
2.03 1.2 2.58 0
0 0 0 Diff
Diff Diff Diff 0
0 0 -1 0
0 0 1 -2.44
7.32 -12.2 2.44 1.76
1.67 -0.29 0.17 2.69
-0.02 -1.55 -0.49 0.93
-1.69 -1.26 -0.66 7.03
2.49 0.85 0.86 -0.37
-0.76 -0.72 -0.09 -0.14
-0.1 -0.06 -0.03 2.78
0.21 -0.58 0.39 -0.2
-0.04 -0.03 -0.02 0.25
-0.02 -0.05 0.07 2.7
-0.13 -0.84 0.28 4.17
1.92 3.11 0.58 5.08