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 March 31, 2009 Batting Average
Returns are net of fees. Incept is December 31, 1997 to March 31, 2009 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2009 Batting Average Returns are gross of fees. Incept is December 31, 1997 to March 31, 2009 Batting Average Account Reconciliation Trailing Returns through March 31, 2009 Worst Qtr
Account Reconciliation Trailing Returns through March 31, 2009 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2009 Worst Qtr Account Reconciliation Trailing Returns through March 31, 2009 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 3/31/2009 Return Beta
3/31/2009 Return Beta 3/31/2009 Return Beta 3/31/2009 Return Beta Qtr %-tile Annualized Alpha
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha 17,221 Universe R-Squared
43,836 Universe R-Squared 18,188 Universe R-Squared 20,538 Universe R-Squared 3,783 5th %-tile Sharpe Ratio
704 5th %-tile Sharpe Ratio 1,979 5th %-tile Sharpe Ratio -1,382 5th %-tile Sharpe Ratio 57 25th %-tile Treynor Ratio
-2,213 25th %-tile Treynor Ratio -1,648 25th %-tile Treynor Ratio -8 25th %-tile Treynor Ratio 21,061 50th %-tile Tracking Error
42,327 50th %-tile Tracking Error 18,519 50th %-tile Tracking Error 19,148 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 6
49,517 1 Yr 7 23,009   1 Yr   7 20,564   1 Yr   4 4,130 -6.67 -0.0667 6
1,045 -21.46 -0.2146 5 2,970   -37.67 -0.3767 5 -2,422   2.85 0.0285 8 -345 1   58.33
-8,234 12 58.33 -7,460   68   50 1,007   6   58.33 21,061 -11.14 -0.1114 -3.83
42,327 -23.25 -0.2325 -12.24 18,519 -37.98 -0.3798 -25.32 19,148 2.7 0.027 -1.44 35,795 30   4.24
12/31/1997 41 4.06 12/31/1997 78 6.31 12/31/1997 7 5.23 Incept -8.22 8.07
Incept -20.7 16.3 Incept -34 31.63 Incept 2.95 6.67 15,998 -10.93 -7.56
15,998 -22.44 -21.46 10,999 -35.94 -37.67 4,811 -1.02 2.85 -6,300 -13.96 6.07
18,297 -23.91 10.73 7,033 -36.96 18.25 3,906 -4.61 3.84 11,362 -17.42 0.76
8,032 -25.83 0.92 487     -37.92 0.97 10,431     -8.24 1.01 21,061  21,061,000 -22.91 1.93
42,327  42,327,000 -30.55 -0.36 18,519   18,519,000 -39.44 -0.62 19,148   19,148,000 -16.83 0.26 Investment Policy     2 Yr 0.91
Investment Policy 2 Yr 0.97 Investment Policy 2 Yr 0.97 Investment Policy 2 Yr 0.97 Index 0.04 0.0004 -0.31
Index -11.57 -0.1157 -0.85 Index -23.5 -0.235 -0.95 Index 6.29 0.0629 0.74 Barclays Capital Gov/Credit-Intermediate 1 -2.46
Barclays Capital Gov/Credit-Intermediate 8 -9.89 Russell 1000 Value 57 -17.84 Barclays Capital Gov/Credit-Intermediate 2 2.81 Russell 1000 Growth -3.98 -0.0398 2.58
Russell 1000 Value -12.76 -0.1276 2.2 Russell 1000 Growth -24.06 -0.2406 3.09 BCAB A+ 5.6 0.056 0.68 Total 18 0.81
Russell 1000 Growth 25 0.08 S&P Midcap 400 70 -0.07 Total 3 0.46 Weight -2.55 Policy
Other -11.14 Policy Russell 2000 Value -19.94 Policy Weight 4.91 Policy 66.67 -4.69 6
Weight -12.81 7 Weight -22.28 7 62.5 2.07 5 33.33 -6.6 6
25 -13.96 5 33.33 -23.27 5 37.5 -0.65 7 100 -9.01 41.67
20 -15.37 41.67 33.33 -24.32 50 100 -3.48 41.67 Trailing Returns through March 31, 2009 -12.64 -4.94
20 -18.27 -12.55 16.67 -25.76 -23.37 Trailing Returns through March 31, 2009 -9.56 -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 1.55 0.0155 8.65
Trailing Returns through March 31, 2009 1 Yr FUND -5.68 -0.0568 17.27 Trailing Returns through March 31, 2009 1 Yr FUND -13.88 -0.1388 30.46 Policy 1 Yr FUND 6.26 0.0626 6.34 Diff UNIVERSE 1   -13.89
Fund UNIVERSE 17 -23.25 Fund UNIVERSE 76 -37.98 Diff UNIVERSE 1 2.7 1 Yr POLICY -0.54 -0.0054 7.62
Policy POLICY -5.85 -0.0585 11.53 Policy POLICY -13.66 -0.1366 18.48 1 Yr POLICY 5.95 0.0595 3.76 -6.67 15   1
Diff 21 1 Diff 67 1 2.85 2 1 -11.14 0.26 0
1 Yr -5.19 0 1 Yr -11.26 0 2.7 5.01 0 4.47 -1.33 1
-21.46 -6.01 1 -37.67 -12.51 1 0.15 3.16 1 2 Yr -2.62 -0.52
-23.25 -6.85 -0.8 -37.98 -13.22 -0.92 2 Yr 1.5 0.67 0.04 -4.23 -3.96
1.79 -7.82 -9.27 0.31 -13.88 -17.08 6.29 -0.24 2.53 -3.98 -7.44 0
2 Yr -9.77 0 2 Yr -15.12 0 5.6 -4.39 0 4.02 4 Yr Diff
-11.57 4 Yr Diff -23.5 4 Yr Diff 1/0/1900 4 Yr Diff 3 Yr 2.98 0.0298 0
-12.76 -2.46 -0.0246 0 -24.06 -8.12 -0.0812   0 3 Yr 5.33 0.0533 -1 1.55 3   0
1.19 35 0 0.56 88   0 6.26 1 1 -0.54 1.56 0.0156 16.66
3 Yr -2.32 -0.0232 16.66 3 Yr -7.5 -0.075   0 5.95 5.01 0.0501 16.66 2.09 19   1.11
-5.68 29 0.31 ################################## 70 -1.95 1/0/1900 2 -0.07 4 Yr 2.48 0.53
-5.85 -1.48 -0.66 -13.66 -5.4 -0.78 4 Yr 4.45 0.26 2.98 1.22 -0.58
0.17 -2.26 -0.97 -0.22 -6.49 1.17 5.33 3.21 0.33 1/1/1900 0.07 6.33
4 Yr -2.89 1.79 4 Yr -7.04 0.31 5.01 2 0.15 1.42 -0.97 -1.55
-2.46 -3.63 -0.8 -8.12 -7.67 -0.23 0.32 0.65 0.08 5 Yr -4.02 -0.24
-2.32 -5.04 -0.08 -7.5 -8.56 -0.03 5 Yr -2.66 0.01 2.81 5 Yr 1.93
-0.14 5 Yr -0.36 -0.62 5 Yr -0.62 4.47 5 Yr 0.26 1.37 3 YR FUND 2.81 0.0281 -0.09
5 Yr 3 YR FUND -1.11 -0.0111 -0.03 5 Yr 3 YR FUND -5.21 -0.0521 -0.03 4.23 3 YR FUND 4.47 0.0447 -0.03 1.44 UNIVERSE 2   0.21
-1.11 UNIVERSE 42 -0.05 -5.21 UNIVERSE 88 -0.03 1/0/1900 UNIVERSE 2 0.07 6 Yr POLICY 1.37 0.0137 1.5
-0.92 POLICY -0.92 -0.0092 -0.62 ################################## POLICY -4.73 -0.0473 -0.76 6 Yr POLICY 4.23 0.0423 0.28 4.65 28   2.58
-0.19 33 2.2 ################################## 71 3.09 4.58 3 0.68 1/4/1900 2.38 5 Yr 5 Yr
6 Yr 0.01 5 Yr 5 Yr 6 Yr -2.27 5 Yr 5 Yr 4.42 3.84 5 Yr 5 Yr 1/0/1900 1.51 # of Negative Qtrs
1/2/1900 -0.77 # of Negative Qtrs 0.79 -3.67 # of Negative Qtrs 1/0/1900 2.87 # of Negative Qtrs 7 Yr 0.55 # of Positive Qtrs
2.93 -1.26 # of Positive Qtrs 1.43 -4.26 # of Positive Qtrs 7 Yr 1.94 # of Positive Qtrs 2.83 -0.41 Batting Average
-0.74 -1.9 Batting Average ################################## -4.89 Batting Average 5.75 0.91 Batting Average 1/2/1900 -2.2 Worst Qtr
7 Yr -2.81 Worst Qtr 7 Yr -5.62 Worst Qtr 5.63 -0.72 Worst Qtr 0.49 6 Yr Best Qtr
1/0/1900 6 Yr Best Qtr ################################## 6 Yr Best Qtr 1/0/1900 6 Yr Best Qtr 8 Yr 4.65 0.0465 Range
0.81 2.19 0.0219 Range -2.74 0.79 0.0079 Range 8 Yr 4.58 0.0458 Range 1/2/1900 17 Worst 4 Qtrs
-0.37 84 Worst 4 Qtrs ################################## 90 Worst 4 Qtrs 5.69 14 Worst 4 Qtrs 1/2/1900 4.2 0.042 Standard Deviation
8 Yr 2.93 0.0293 Standard Deviation 8 Yr 1.43 0.0143 Standard Deviation 5.49 4.42 0.0442 Standard Deviation 1/0/1900 33 Beta
1/0/1900 53 Beta -2.8 73 Beta 1/0/1900 15 Beta 9 Yr 5.33 Annualized Alpha
1/0/1900 4.5 Annualized Alpha -2.54 3.93 Annualized Alpha 9 Yr 6.37 Annualized Alpha 1/1/1900 4.39 R-Squared
-0.17 3.6 R-Squared ################################## 2.57 R-Squared 6.44 3.72 R-Squared -0.26 3.63 Sharpe Ratio
9 Yr 3.02 Sharpe Ratio 9 Yr 1.87 Sharpe Ratio 6.23 2.7 Sharpe Ratio 1/1/1900 2.79 Treynor Ratio
############################## 2.37 Treynor Ratio -5.13 1.33 Treynor Ratio 1/0/1900 1.76 Treynor Ratio 10 Yr 1.37 Tracking Error
############################## 1.52 Tracking Error ################################## 0.38 Tracking Error 10 Yr 0.14 Tracking Error 1/2/1900 7 Yr Information Ratio
0.03 7 Yr Information Ratio ################################## 7 Yr Information Ratio 1/5/1900 7 Yr Information Ratio 1/1/1900 5 YR FUND 2.83 0.0283 Fund
10 Yr 5 YR FUND 0.44 Fund 10 Yr 5 YR FUND -3.4 Fund 1/5/1900 5 YR FUND 5.75 0.0575 Fund 1/1/1900 UNIVERSE 17   9
1/0/1900 UNIVERSE 48 10 -3.63 UNIVERSE 93 9 0.14 UNIVERSE 6 8 12/31/1997 POLICY 2.34 0.0234 11
1/0/1900 POLICY 0.81 10 ################################## POLICY -2.74 11 12/31/1997 POLICY 5.63 0.0563 12 Incept 31   Batting Average 50
-0.15 31 Batting Average 50 ################################## 69 Batting Average 45 Incept 7 Batting Average 55 1/5/1900 3.32 -3.83
12/31/1997 1.97 -12.24 12/31/1997 -0.33 -25.32 6.06 6.12 -2.27 2.83 2.49 6.49
Incept 1.03 6.82 Incept -1.58 10.79 1/5/1900 4.4 5.23 2.45 1.74 10.32
1/2/1900 0.39 19.06 -0.68 -2.25 36.11 1/0/1900 3.47 7.5 Fiscal Year Returns Ending September 0.85 -7.56
2.68 -0.14 -21.46 0.03 -2.9 -37.67 Fiscal Year Returns Ending September 2.57 -0.36 Fund -0.69 Standard Deviation 5.89
-0.08 -0.87 Standard Deviation 9.11 ################################## -3.5 Standard Deviation 15.43   Fund 0.67 Standard Deviation 3.63 Policy 8 Yr Beta 0.83
Fiscal Year Returns Ending September 8 Yr Beta 0.93 Fiscal Year Returns Ending September 8 Yr Beta 0.97   Policy 8 Yr Beta 0.97   Diff 2.97 Annualized Alpha 1.64 0.0164
Fund 0.76 Annualized Alpha -0.28 -0.0028 Fund -2.8 Annualized Alpha -0.61 -0.0061 Diff 5.69 Annualized Alpha 0.36 0.0036 3/31/2009 8 R-Squared 0.9  
Policy 43 R-Squared 0.96 Policy 81 R-Squared 0.97 3/31/2009 6 R-Squared 0.98 Qtr 2.3 -0.04
Diff 0.93 -0.46 Diff -2.54 -0.54 Qtr 5.49 0.39 -0.01 24 -0.3
3/31/2009 35 -4.48 3/31/2009 71 -8.53 1/0/1900 8 1.45 -1.28 3.24 2.19
Qtr 2.26 1.99 Qtr 0.17 2.78 -0.01 5.79 0.58 1.27 2.25 0.66
-4.76 1.15 -0.1 -7.98 -1.23 -0.17 0.01 4.47 0.41 7/1/1905 1.61 Policy Policy
-6.97 0.63 Policy Policy -11.79 -2.06 Policy Policy 2009 3.62 Policy Policy YTD 0.82 9
2.21 0.05 9 3.81 -2.64 9 YTD 2.8 9 -2.43 -0.45 11
2009 -0.74 11 2009 -3.49 11 1/5/1900 1.72 11 -6.07 9 Yr 50
YTD 9 Yr 50 YTD 9 Yr 55 4.96 9 Yr 45 3.64 1.38 -4.94
-16.42 -0.26 -12.55 -31.28 -5.13 -23.37 0.28 6.44 -2.44 2008 16 5.19
-18.65 40 6.28 -32.4 75 9.9 2008 3 4.97 -3.41 -0.26 10.13
2.23 -0.29 18.83 1.12 -4.97 33.27 3.98 6.23 7.41 -8.67 61 -13.89
2008 40 -23.25 2008 70 -37.98 3.56 4 -0.81 5.26 2.55 Standard Deviation 6.68
-11.57 2.28 Standard Deviation 9.63 -21 0.56 Standard Deviation 15.57 0.42 5.81 Standard Deviation 3.7 2007 0.85 1
-10.79 0.51 1 -19.72 -2.24 1 2007 4.74 1 10.97 0.05 0
-0.78 -0.58 0 -1.28 -4.36 0 6.1 4.09 0 12.99 -0.78 1
2007 -1.36 1 2007 -5.15 1 5.48 3.34 1 -2.02 -2.89 -0.25
11.96 -2.97 -0.41 16.64 -7.14 -0.5 0.62 1.79 0.32 2006 10 Yr -1.69
11.03 10 Yr -3.98 14.69 10 Yr -7.79 2006 10 Yr 1.17 3.73 2.87 0
0.93 0.64 0 1/1/1900 -3.63 0 1/3/1900 5.93 0 4.97 9 Diff
2006 50 Diff 2006 94 Diff 3.67 4 Diff -1.24 1.36 0
1/6/1900 0.79 1 9.02 -2.93 0 -0.19 5.79 -1 6/27/1905 50 0
8.28 41   -1 11.36 72   0 2005 5   1 8.2 3.2   0
-1.71 2.83 0 -2.34 1.09 -10 2.95 5.69 10 7.07 2.14 1.11
2005 1.39   0.31 2005 -1.09   -1.95 2.8 4.44   0.17 1.13 1.34   1.3
8.42 0.63 0.54 12.84 -2.2 0.89 0.15 3.73 0.26 2004 0.47 0.19
9.06 0.05 0.23 13.21 -3.01 2.84 6/26/1905 3.13 0.09 3.06 -0.9 6.33
-0.64 -0.92 1.79 -0.37 -3.83 0.31 3.36 1.72 0.45 5.45 Fiscal Year Returns Ending September -0.79
2004 Fiscal Year Returns Ending September -0.52 6/26/1905 Fiscal Year Returns Ending September -0.14 3.68 Fiscal Year Returns Ending September -0.07 ################################ Fund -0.17
7.44 Fund -0.07 12.55 Fund -0.03 -0.32 Fund -0.03 2003 Return 1.64
1/10/1900 Return   -0.28 15.46 Return   -0.61 6/25/1905 Return   0.36 1/12/1900 %-tile   -0.1
-3.29 %-tile -0.04 -2.91 %-tile -0.03 5.52 %-tile -0.02 16.84 Policy 0.21
2003 Policy   -0.05 6/25/1905 Policy   -0.04 5.44 Policy   0.07 ################################ Return   1.39
14.37 Return -0.5 24.55 Return -0.74 0.08 Return 0.28 2002 %-tile 2.19
1/17/1900 %-tile 1.99 24.8 QU. FUND %-tile 2.78 6/24/1905 %-tile 0.58 ################################ 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 -0.01 -0.0001 Worst 4 Qtrs
############################## -4.76 -0.0476 Worst 4 Qtrs ################################## -7.98 -0.0798 Worst 4 Qtrs 6/22/1905 0 0 Worst 4 Qtrs 17.54 15 Standard Deviation
2.49 23 Standard Deviation 0.85 10 Standard Deviation 6.57 84 Standard Deviation 1/15/1900 -1.28 -0.0128 Beta
6/22/1905 -6.97 -0.0697 Beta 6/22/1905 -11.79 -0.1179 Beta 6.72 -0.01 -0.0001 Beta 1/2/1900 46   Annualized Alpha
9.62 92 Annualized Alpha 8.31 87 Annualized Alpha -0.15 85 Annualized Alpha Returns in Up Markets 0.88 R-Squared
1/9/1900 -3.92 R-Squared 11.3 -7.41 R-Squared Returns in Up Markets 3.79 R-Squared Fund -0.54 Sharpe Ratio
-0.14 -4.86 Sharpe Ratio -2.99 -9.08 Sharpe Ratio Fund 2.34 Sharpe Ratio Policy -1.48 Treynor Ratio
Returns in Up Markets -5.61 Treynor Ratio Returns in Up Markets -10.21 Treynor Ratio Policy 1.36 Treynor Ratio Ratio -2.52 Tracking Error
Fund -6.35 Tracking Error Fund -11.24 Tracking Error Ratio 0.41 Tracking Error 3 Yr -4.61 Information Ratio
Policy -7.61   Information Ratio Policy -12.56   Information Ratio 3 Yr -1.99   Information Ratio 10.4 YTD   Fund
Ratio YTD Fund Ratio YTD Fund 1/12/1900 YTD Fund 1/11/1900 -2.43 17
3 Yr -16.42 -0.1642 18 3 Yr -31.28 -0.3128 18 12 5.24 0.0524 12 88.4 1   23
12.2 6 22 1/16/1900 59 22 105.7 4 28 5 Yr -6.07 47.5
12.7 -18.65 -0.1865 55 16.2 -32.4 -0.324 42.5 5 Yr 4.96 0.0496 52.5 10.8 23   -7.29
4/4/1900 47 -12.24 100.1 86 -25.32 1/10/1900 5 -2.27 1/11/1900 -4.36 10.46
5 Yr -16.3 8.62 5 Yr -28.51   14.93 10.5 4.9 5.39 95.3 -6.29   17.75
10.6 -17.62 20.86 1/16/1900 -30.02 40.25 102.3 2.54 7.66 10 Yr 2004 FUND -8.47 -0.0847 -13.1
1/11/1900 2004 FUND -18.79 -0.1879 -21.46 16.8 2004 FUND -31 -0.31 -37.67 10 Yr 2004 FUND -0.27 -0.0027 -0.36 14 UNIVERSE -11.04 7.45
3/31/1900 UNIVERSE -20.27 8.73 4/5/1900 UNIVERSE -31.95 16.76 1/10/1900 UNIVERSE -3.17 3.89 15.7 POLICY -15.42 -0.1542 0.76
10 Yr POLICY -22.92 -0.2292 0.88 10 Yr POLICY -33.22 -0.3322 0.96 1/10/1900 POLICY -9.24 -0.0924 0.97 89.2 2008   1.76
1/14/1900 2008 -0.09 -0.0009 1/23/1900 2008 -0.81   100.4 2008 0.32 0.0032 12/31/1997 -3.41 0.9 0.009
1/15/1900 -11.57   0.96 1/24/1900 -21 0.96 12/31/1997 3.98 0.98 Incept 1   -0.04
3/29/1900 21 -0.29 4/4/1900 74 -0.41 Incept 3 0.7 16.3 -8.67 -0.42
12/31/1997 -10.79 -2.9 12/31/1997   -19.72   -7.1 10.5 3.56   2.82 1/15/1900 16   3.21
Incept 11 2.08 Incept   51 3.32 10.4 3 0.61 4/12/1900 -7.32 0.47
16.5 -10.04 -0.07 26.6   -16.33   -0.21 100.7 2.79   0.23 Returns in Down Markets -9.61   Policy
1/17/1900 -11.8 Policy 28.1 -18.46 Policy Returns in Down Markets -0.24 Policy Fund 2003 FUND -11.34 -0.1134 18
92.3 2003 FUND -12.97 -0.1297 18 94.8 2003 FUND -19.69 -0.1969 18 Fund 2003 FUND -2.67 -0.0267 14 Policy UNIVERSE -13.25 22
Returns in Down Markets UNIVERSE -14.36 22 Returns in Down Markets UNIVERSE -21.12 22 Policy UNIVERSE -5.43 26 Ratio POLICY -17.79 -0.1779 52.5
Fund POLICY -17.27 -0.1727 45 Fund POLICY -23.26 -0.2326 57.5 Ratio POLICY -10.61 -0.1061 47.5 3 Yr 2007   -9.05
Policy 2007 -12.55 Policy 2007 -23.37 3 Yr 2007 -2.44 -6.6 10.97 11.93
Ratio 11.96   10.54 Ratio 16.64 16.08 -2.2 6.1 5.88 -11.5 83   20.98
3 Yr 20 23.09 3 Yr 25 39.45 -2 12 8.32 57.3 12.99 -20.13
-16.7 11.03 -23.25 -30.5 14.69   -37.98 107.9 5.48   -0.81 5 Yr 45   9.33
-17.2 38 9.74 -30.1 70 17.12 5 Yr 17 3.97 -6.2 16.05 1
96.9 13.5 1 101 19.32   1 -2.7 7.79   1 ################################ 14.07   0
5 Yr 11.63 0 5 Yr 16.58 0 -3 4.82 0 64.4 2002 FUND 12.74 0.1274 1
-13.7 2002 FUND 10.7 0.107 1 -26.1 2002 FUND 15.21 0.1521 1 91.3 2002 FUND 3.96 0.0396 1 10 Yr UNIVERSE 11.46 -0.2
############################## UNIVERSE 10.1 -0.25 -25.7 UNIVERSE 14.29 -0.36 10 Yr UNIVERSE 3.3 0.65 -9.3 POLICY 9.98 0.0998 -1.83
95.8 POLICY 8.5 0.085 -2.4 101.6 POLICY 12.02 0.1202 -6.12 ################################## POLICY 2.14 0.0214 2.6 -13.8 2006   0
10 Yr 2006 0 10 Yr 2006 0 ################################## 2006 0 67.4 3.73 Diff
-13.7 6.57   Diff -28.7 9.02 Diff 87.1 3.48 Diff 12/31/1997 79   -1
-15 86 0 ################################## 82 0 12/31/1997 65 -2 Incept 4.97 1
91.5 8.28 0 4/10/1900 11.36   0 Incept 3.67   2 -9.3 57   -5
12/31/1997 40 10 12/31/1997 27 -15 -2.3 57 5 -13.8 7.96 1.76
Incept 10.45 0.31 Incept 13.91   -1.95 -2.7 8.16   0.17 67.4 6.64   -1.47
-13.7 8.92 -1.92 -28.8 11.73 -1.15 85.6 4.79 -0.49 2001 FUND 5.21 0.0521 -3.23
-15 2001 FUND 7.99 0.0799 -2.23 -28.7 2001 FUND 10.72 0.1072 0.8 2001 FUND 3.86 0.0386 -0.66 UNIVERSE 3.94 7.03
91.7 UNIVERSE 7.22 1.79 100.3 UNIVERSE 9.62 0.31 UNIVERSE 3.24 0.45 POLICY 2.1 0.021 -1.88
POLICY 5.53 0.0553 -1.01 POLICY 7.34 0.0734 -0.36 POLICY 2.36 0.0236 -0.08 2005   -0.24
2005 -0.12 2005 -0.04 2005 -0.03 8.2 1.76
8.42   -0.09 12.84 -0.81 2.95 0.32 49   -0.1
86 -0.04 78 -0.04 58 -0.02 7.07 0.16
9.06 -0.04 13.21   -0.05 2.8   0.05 75   1.41
69 -0.5 69 -0.98 61 0.22 11.99 3.21
13.04 2.08 18.73   3.32 8.66   0.61 9.73   Incept
11.13 Incept 15.49 Incept 4.96 Incept 2000 FUND 8.15 0.0815 # of Negative Qtrs
2000 FUND 9.76 0.0976 # of Negative Qtrs 2000 FUND 13.79 0.1379 # of Negative Qtrs 2000 FUND 3.36 0.0336 # of Negative Qtrs UNIVERSE 7.05 # of Positive Qtrs
UNIVERSE 8.82 # of Positive Qtrs UNIVERSE 12.93 # of Positive Qtrs UNIVERSE 2.29 # of Positive Qtrs POLICY 5.63 0.0563 Batting Average
POLICY 7.74 0.0774 Batting Average POLICY 11.22 0.1122 Batting Average POLICY 1.1 0.011 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 100 Range
99 Range 88 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
63 Standard Deviation 54 Standard Deviation 59 Standard Deviation 9.97 Beta
15.65 Beta 20.96 Beta 12.4 Beta 8.12 Annualized Alpha
12.98 Annualized Alpha 17.96 Annualized Alpha 5.91 Annualized Alpha 7.11 R-Squared
11.36 R-Squared 15.62 R-Squared 4.07 R-Squared 5.97 Sharpe Ratio
10.16 Sharpe Ratio 14.42 Sharpe Ratio 2.8 Sharpe Ratio 4.77 Treynor Ratio
8.08 Treynor Ratio 10.63 Treynor Ratio 0.85 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 70 Fund
81 Fund 39 Fund 29 Fund 16.84 18
17.04 19 24.8 19 5.44 13 23 27
40 26 36 26 30 32 23.08 51.11
26.69 55.56 30.88 44.44 26.73 53.33 16.55 -7.29
18.73 -12.24 25.84 -25.32 6.22 -2.27 14.22 14.62
16.38 12.53 23.98 19.75 3.67 5.39 12.21 21.91
14.92 24.77 22.03 45.07 2.68 7.66 9.62 -13.1
12.33 -21.46 17.8   -37.67 1.49 -1.19 2002 8.73
2002 9.54 2002 17.63 2002 3.94 -5.61 0.85
-7.32 0.91 -19.84   0.95 9.39 0.98 32 2.82
36 0.14 83 -0.7 10 0.31 -7.3 0.81
-8.77 0.96 -19.57 0.97 9.11 0.98 66 0.22
65 -0.08 77 -0.23 13 0.68 0.34 2.24
-3.96 -0.86 -10.31   -4.27 9.95 2.73 -5.02 4.04
-6.51 2.02 -15.3 3.29 8.39 0.61 -6.63 0.61
-8.13 -0.04 -17.84   -0.22 7.17 0.31 -8.02 Policy
-9.39 Policy -19.52 Policy 5.06 Policy -12.79 18
-12.64 19 -20.9 19 -2.06 15 2001 27
2001 26 2001 26 2001 30 -13.1 48.89
-9.99 44.44 -26 55.56 13.48 46.67 46 -9.05
36 -12.55 53 -23.37 6 -2.44 -20.13 11.93
-12.48 12.55 -26.85 21.3 13.41 5.88 84 20.98
58 25.1 60 44.67 6 8.32 -2.47 -20.13
1.72 -23.25 -2.79 -37.98 13.49 -2.05 -9.57 9.2
-7.06 10.29 -16.55 18.16 11.38 3.98 -13.73 1
-11.65 1 -25.68 1 9.65 1 -18.21 0
-14.63 0 -28.24 0 7.27 0 -24.99 1
-22.53 1 -38.51 1 -12.08 1 -0.06
-0.07 -0.18 0.63 -0.55
-0.7 -3.35 2.49 0
0 0 0 Diff
Diff Diff Diff 0
0 0 -2 0
0 0 2 2.22
11.12 -11.12 6.66 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
1.79 0.31 0.86 -0.47
-0.75 -0.53 -0.04 -0.15
-0.09 -0.05 -0.02 2.82
0.14 -0.7 0.31 -0.19
-0.04 -0.03 -0.02 0.28
-0.01 -0.05 0.05 2.79
-0.16 -0.92 0.24 4.04
2.02 3.29 0.61 5.08