SUNRISE POLICE SCROLL TO RIGHT------> Small Cap
LOCK N/A LOCK LOCK N/A LOCK LOCK N/A LOCK LOCK DHJ LG.GR. EXECUTIVE HERE LOCK LOCK DHJ EQ. UNIVERSE HERE LOCK LOCK DHJ EQ RISK HERE LOCK LOCK COHEN & STEERS LOCK LOCK COHEN & STEERS LOCK LOCK COHEN & STEERS 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
DHJ Large Cap Growth Equity (R1000G) DHJ Large Cap Growth Equity (R1000G) DHJ Large Cap Growth Equity (R1000G) Cohen & Steers (equity + cash) Cohen & Steers (equity + cash) Cohen & Steers (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
49 Broad Large Cap Growth Equity 54 57 Broad Large Cap Value Core Equity 61 64 Broad Small Cap Value Core 68
Inception date is December 31, 1997 51 3 Yr Inception date is June 30, 2008 59 Incept Inception date is March 31, 2004 66 Incept 2 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
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, 2008 Batting Average Returns are net of fees. Incept is June 30, 2008 to September 30, 2008 Batting Average Returns are net of fees. Incept is March 31, 2004 to September 30, 2008 Batting Average
Account Reconciliation Trailing Returns through September 30, 2008 Worst Qtr Account Reconciliation Trailing Returns through September 30, 2008 Worst Qtr Account Reconciliation Trailing Returns through September 30, 2008 Worst 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
Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs Investment G/L %-tile Worst 4 Qtrs
Ending Value R1000G Standard Deviation Ending Value R1000V Standard Deviation Ending Value R2000V Standard Deviation
9/30/2008 Return Beta 9/30/2008 Return Beta 9/30/2008 Return Beta
Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha Qtr %-tile Annualized Alpha
4,154 Universe R-Squared 10,493 Universe R-Squared 4,200 Universe R-Squared
411 5th %-tile Sharpe Ratio -2 5th %-tile Sharpe Ratio -1 5th %-tile Sharpe Ratio
-459 25th %-tile Treynor Ratio -678 25th %-tile Treynor Ratio 100 25th %-tile Treynor Ratio
4,106 50th %-tile Tracking Error 9,814 50th %-tile Tracking Error 4,300 50th %-tile Tracking Error
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
    6,597 1 Yr 3 0   2 Qtrs   1 5,109 2 Qtrs 3
  -1,519 -17.28 -0.1728 9 10,491   -7.73 0 -3 5.04 0.0504 5
    -972 10 58.33 -678   -10.45   0 -806 1 Batting Average 50
4,106 -20.88 -0.2088 -10.32 9,814 -10.95 -6.46 4,300 1.24 0.0124 -13.6
12/31/1997 32 6.11 6/30/2008 -11.84 -6.46 3/31/2004 10 9.61
Incept -15.25 16.43 Incept -13.71 0 Incept 2.18 23.21
  10,999 -20.07 -17.28   10,493 3 Qtrs 11.26 2,986 -0.06 -23.35
-13,770 -22.53 11.47 -2 -16.34 0.84 660 -2.28 Standard Deviation 14.84
                  - 6,877 -25.72 0.9 -678     -17.99 -5.49   654 -3.18 Beta 0.92  
4,106    4,106,000 -29.44 0.93 9,814    9,814,000 -19.2 0.99 0.0099 4,300   4,300,000 -5.18 Annualized Alpha 0.69 0.0069
Investment Policy 2 Yr 0.96 Investment Policy -20.57 -0.61 Investment Policy 3 Qtrs R-Squared 0.8
Index -0.65 -0.0065 -0.26 Index -22.95 -8.2 Index -2.52 -0.0252 -0.44
Russell 1000 Growth 14 -3.31 Russell 1000 Value 1 Yr 2.34 Russell 2000 Value 18 -7.05
Total -2.82 -0.0282 2.6 Total -19.18 -0.15 Total -5.37 -0.0537 6.79
Weight 34 0.37 Weight -21.11 R1000V Weight 28 0.12
70 100 0.44 R1000G 100 -22.52 1 100 -0.51 Policy R2000V
30 100 -1.96 4 100 -24.11 0 100 -5.3 4
100 50 Trailing Returns through September 30, 2008 -3.98 8 Trailing Returns through September 30, 2008 -28.06 100 Trailing Returns through September 30, 2008 -7.52 4
Trailing Returns through March 31, 2008 -8.57 Fund -5.66 41.67 Fund 2 Yr -6.11 Fund -8.46 50
Fund 5.08 R1000G -9.89 -12.33 R1000V -2.27 -6.11 R2000V -8.95 -7.27
Policy     13.65 Diff   3 Yr   6.86 Diff   -4.42   0 Diff 1 Yr #VALUE! 9.03
Diff 1 Yr FUND 0 -8.71 1 Yr 1 Yr FUND 1.01 0.0101 19.19 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 1 Yr FUND -5.28 -0.0528 13.41 1 Yr -15.78 -0.1578 16.3
1 Yr UNIVERSE 11.19 ################################## UNIVERSE 25 -20.88 6/30/2008 UNIVERSE -6.65 1 ################################### 80 0.8 -21.63
-12.71 POLICY 0 1 -20.88 POLICY 0.04 0.0004 12.47 Incept POLICY -10.89 -0.1089 0 -12.25 -12.25 -0.1225 14.37
-8.71 0 3.6 40 1 -6.46 3 Yr 1 -3.53 29 1
-4 1 2 Yr 2.91 0 -6.11 2.71 -0.49 2 Yr -8.19 0
2 Yr -1.15 ################################## 0.92 1 ################################ 0.9 -6.54 ################################### -11.35 1
################################# -12.9 -2.82 -0.48 -0.32 Fiscal Year Returns Ending September 0 0 -3.52 -14.45 -0.51
0.85 0 2.17 -1.91 -3.95 Fund -0.93 Diff 0.8 -14.96 -7.29
-2.2 Diff 3 Yr -4.66 0 R1000V -3.57 0 3 Yr -17.49 0
3 Yr 0 1.01 4 Yr Diff Diff 4 Yr 0 1/1/1900 2 Yr = Diff
   1/2/1900   0   1/0/1900 3.88 0.0388 -1    9/30/2008 2 Yr FUND 6.21 0.0621 -100   1/2/1900 -2.72 -0.0272 -1
   1/5/1900 0   1/0/1900 25 1    Qtr UNIVERSE 4.06 -0.35   -0.9 43 1
  -2.98   -0.9   4 Yr 2.81 0.0281 16.66   -6.46 POLICY 3.05 0.0305 -0.35   4 Yr -3.52 -0.0352 0
4 Yr 0.89 3.88 51 2.01 ################################ 2.36 0 1/3/1900 58 -6.33
1/4/1900 2.02 1.79 1/2/1900 6.27 -0.75 ################################ -0.25 -2.15 1/5/1900 0.29 0.58
1/6/1900 1.06 -4 1.07 3.87 -2.76 2008   5 Yr -0.16 -1.79 -1.08 6.91
-1.99 0.12 0.13 5 Yr 2.84 3.6 YTD 2007 2006 2005 2004 2003 2002 2001 2000 1999 8.7 -5.49 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr -3.33 -1.72
5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr -1.17 -0.08 3.99 1.48 -1 Returns in Up Markets 6.76 -0.01 3/31/2004 -3.82 0.47
3/31/2004 3 Yr -4.94 3.74 -0.94 -0.1 Fund 5.36 -0.12 Incept -8.28 -0.08
Incept 2.48 -0.17 0.25 5 Yr 0.93 R1000V 4.75 -1.66 4.52 3 Yr #VALUE! 0.69
1/4/1900 3 YR FUND 99 0.99 -0.34 6 Yr 3 YR FUND 3.99 0.0399 -0.04 Ratio   2.86 0.0286 2.34 5.31 1.1 0.011 -0.2
1/6/1900 UNIVERSE 5.46 -5.47 1/6/1900 UNIVERSE 54 0.06 39629.00   6 Yr -0.14 ################################### 64 0.64 0.07
-1.99 POLICY 54 0.54 4.69 7.14 POLICY 3.74 0.0374 0.64 Incept   11.18 0.1118 -1.83 Fiscal Year Returns Ending September 2 0.02 0.24
Fiscal Year Returns Ending September 9.29 2 Yr -0.63 61 2.6 Returns in Down Markets   9 3.34 Fund 42 6.79
Fund 6.48 5 Yr # of Negative Qtrs 7 Yr 7.53 5 Yr 5 Yr Fund 8.2 4 Yr R2000V 4.39 3 Yr
Policy 5.57 # of Positive Qtrs 1/2/1900 5.4 # of Negative Qtrs R1000V 7.6 # of Negative Qtrs Diff 2.93 # of Negative Qtrs
Diff 4.79 Batting Average 2.29 4.11 # of Positive Qtrs Ratio 6.5 # of Positive Qtrs 9/30/2008 1.75 # of Positive Qtrs
3/31/2008 3.37 Worst Qtr 1/0/1900 3.05 Batting Average 6/30/2008 7 Yr Batting Average Qtr 0.55 Batting Average
Qtr 4 Yr Best Qtr 8 Yr 0.23 Worst Qtr Incept 7.32 Worst Qtr 2.39 -0.59 Worst Qtr
################################# 4.02 Range ################################## 6 Yr Best Qtr ################################ 5.27 Best Qtr 1/4/1900 4 Yr #VALUE! Best Qtr
################################# 99 Worst 4 Qtrs ################################## 6.51 0.0651 Range ################################ 4.21 0.0421 Range ################################### 3.94 0.0394 Range
1.57 6.01 Standard Deviation 1/2/1900 59 Worst 4 Qtrs 105.7 3.23 Worst 4 Qtrs 2008 93 0.93 Worst 4 Qtrs
2008 64 Beta 9 Yr 7.14 0.0714 Standard Deviation -6.46 1.76 0.0176 Standard Deviation YTD 5.73 0.0573 Standard Deviation
YTD 9.49 Annualized Alpha 1/0/1900 43 Beta -6.11 8 Yr Beta ################################### 47 Beta
################################# 7.35 R-Squared ################################## 9.61 Annualized Alpha ################################ 6.53 Annualized Alpha -12.25 8.95 Annualized Alpha
-12.7 6.39 Sharpe Ratio 2.82 7.83 R-Squared 2008 4.24 R-Squared -3.53 7.05 R-Squared
-3.11 5.72 Treynor Ratio 10 Yr 6.92 Sharpe Ratio YTD 2.34 Sharpe Ratio 2007 5.48 Sharpe Ratio
2007 4.77 Tracking Error 1/2/1900 5.83 Treynor Ratio ################################ -0.66 Treynor Ratio 1/12/1900 4.94 Treynor Ratio
1/13/1900 5 Yr Information Ratio 1/0/1900 3.9 Tracking Error ################################ -1.39 Tracking Error 1/6/1900 3.82 Tracking Error
13.3 16.12 Fund 2.23 7 Yr Information Ratio -0.14 Fiscal Year Returns Ending September Information Ratio 6.29 5 Yr Information Ratio
-0.13 5 YR FUND 14.16 0.1416 4 12/31/1997 5 YR FUND 2.66 0.0266 Fund Fund 2007 Fund ####### Fund 2006 12.44 Fund
2006 UNIVERSE 13.2 4 Incept UNIVERSE 50 6 1/13/1900   Return 6 1/9/1900 10.37 4
11.07 POLICY 12.39 0.1239   62.5 1/3/1900 POLICY 2.29 0.0229 14 14.45   %-tile ####### 10 14 9.05 8
1/11/1900 11.7 Batting Average -9.47 1/1/1900 57 Batting Average 50 ################################   R1000V 31.25 -4.79 8.75 50
-0.74 6 Yr 7.59 2.58 5.35 -10.32 2006 Return -8.13 2005 8.01 -13.6
6/27/1905 8.92 17.06 Fiscal Year Returns Ending September 3.8 10.86 1/11/1900 %-tile 8.88 1/12/1900 6 Yr 13.53
1/11/1900 6.86 -12.71 Fund 2.64 21.18 14.62 Universe 17.01 1/17/1900 14.64 27.13
13.96 5.93 9.84 R1000G 1.59 -17.28 ################################ 5th %-tile -23.7 -4.82 13.31 -23.35
-2.79 5.15 Standard Deviation 0.96 Diff 0.38 Standard Deviation 10.81 2005 25th %-tile 9.88 2004 2003 2002 2001 2000 1999 12.22 14.54
2004 2003 2002 2001 2000 1999 4.14 Beta -2.1   9/30/2008 8 Yr Beta 0.93 1/10/1900 50th %-tile 0.87   Returns in Up Markets 11.91 0.95
Returns in Up Markets 7 Yr Annualized Alpha 0.87 0.0087 Qtr -2.7 Annualized Alpha 0.49 0.0049 1/16/1900 75th %-tile -1.68 -0.0168 Fund 10.22 -0.62 -0.0062
Fund 8.61 R-Squared -0.6 -10.32 52 R-Squared 0.95 ################################ 95th %-tile 0.89 R2000V 7 Yr 0.8
Policy 7.29 -6.19 -12.33 -5.48 0.08 6/26/1905 Qtr -0.19 Ratio 13.71 -0.2
Ratio 6.41 3.62 2.01 84 0.97 1/16/1900 -6.46 -0.0646 -2.14 2 Yr 12.06 -3.04
1 Yr 5.65 -0.61 2008 1.15 2.46 1/20/1900 18 3.58 23.5 10.68 6.57
1/6/1900 4.87 Policy YTD -1.04 0.1 ################################ -6.11 -0.0611 -0.63 18.8 10.1 -0.14
5.1 8 Yr Policy 4 -17.28 -2.55 Policy R1000G 2003 2002 2001 2000 1999 16 R1000V 124.9 9.16 R2000V
117.5 8.67 4 -20.88 -4.59 6 Returns in Up Markets -3.53 5 3 Yr 8 Yr 5
2 Yr 7.07 37.5 3.6 -7.36 14 Fund -6.82 11 22.3 13.52 7
20 5.68 -8.57 2007 9 Yr 50 R1000V -8.33 68.75 20.8 11.99 50
19.2 3.75 7.4 19.32 0.19 -12.33 Ratio -8.48 -8.72 107.2 10.3 -7.27
104.2 2.26 15.97 19.35 48 10.41 3 Yr -9.83   10.38 4 Yr 9.29 13.5
3 Yr Fiscal Year Returns Ending September -8.71 -0.03 -2.63 22.74 1/15/1900 YTD 19.1 1/22/1900 7.75 20.77
1/15/1900 Fund 9.52 2006 84 -20.88 16.9 -19.18   -23.56 23.8 Fiscal Year Returns Ending September -21.63
17.3 Return Standard Deviation 1 1/4/1900 3.9 Standard Deviation 11.39 88.4 -21.11 10.67 94 Fund 13.64
88.2 %-tile 0 6.03 1.22 1 4 Yr -22.52 1 3/31/2004 QU. FUND Return #VALUE! 1
3/31/2004 Policy 1 -1.61 0.1 0 1/13/1900 -24.11 0 Incept UNIVERSE %-tile 0
Incept Return -0.39 2005 -1.73 1 16.8 -28.06 1 20.1 POLICY R2000V #VALUE! 1
1/16/1900 %-tile -3.74 12.97 -6.14 0.06 3/19/1900 2007 0.04 19.9 Return -0.15
18.9 Universe 0 11.6 10 Yr 0.65 5 Yr QU. FUND 20.48 0.39 101.1 %-tile #VALUE! -1.99
89 5th %-tile Diff 1.37 2.82 0 1/14/1900 UNIVERSE 16.5 0 Returns in Down Markets Universe 0
Returns in Down Markets 25th %-tile 0 2004 50 Diff 17.8 POLICY 15.89 Diff Fund 5th %-tile #VALUE! Diff
Fund 50th %-tile 0 4.45 0.59 0 80.2 14.26 1 R2000V 25th %-tile -1
Policy 75th %-tile   25 7.51 88   0 12/31/2002 9.99 0.0999 -1 Ratio 50th %-tile #VALUE! 1
Ratio 95th %-tile -0.9 -3.06 6.79 0 Incept 2006 -37.5 2 Yr 75th %-tile 0
1 Yr Qtr   0.19 2003 3.93   2.01 18 16.37 0.1637 0.59 -23.3 95th %-tile #VALUE! -6.33
-17.6 -7 1.09 20.02 2.76 0.45 20.6 13.23 -1.5 -21.6 Qtr #VALUE! 0.03
################################# 7 -4 1/25/1900 1.61 -1.56 3/27/1900 11.43 0.1143 -2.09 108 2.39 0.0239 6.36
134.2 -8.57 0.32 -5.89 -0.47 3.6 Returns in Down Markets 10.52 -0.14 3 Yr 36 0.36 -1.72
2 Yr 46 -0.04 2002 Fiscal Year Returns Ending September -0.58 Fund 8.78 0.0878 -0.79 -22.5 4.96 0.0496 0.9
-18.9 -6.78 -2.1 ################################## Fund -0.07 R1000V 2005 -0.13 -19.5 3 -0.05
################################# -7.9   -0.13 ################################## Return   0.49 Ratio 19.58 0.1958 -1.68 115.5 4.77 -0.62
128.7 -8.75 -0.21 4.82 %-tile -0.05 3 Yr 16.25 -0.11 4 Yr 3.51 -0.2
3 Yr -9.5   -2.45 2001 R1000G   0.02 -19.8 12.45 0.1245 -0.23 -20.9 0.31 -0.05
-18.9 -10.48 3.62 ################################## Return 0.32 -19.5 11.74 -2.53 -18.8 -0.81 -1.05
################################# QU. FUND YTD ####### 3 Yr ################################## %-tile 2.46 101.6 8.75 3.58 111.1 -2.12 6.57
128.7 UNIVERSE -15.81 # of Negative Qtrs 12.51 Universe 10 Yr 4 Yr 2004 Incept 5 Yr 3/31/2004 YTD 4 Yr
3/31/2004 POLICY 98 0.98 # of Positive Qtrs 2000 5th %-tile # of Negative Qtrs -19.8 22.45 # of Negative Qtrs Incept -15.78 # of Negative Qtrs
Incept -12.7 Batting Average 26.61 25th %-tile # of Positive Qtrs -19.5 18.97 # of Positive Qtrs -20.9 80 # of Positive Qtrs
################################# 54 Worst Qtr 1/23/1900 QU. FUND 50th %-tile Batting Average 4/10/1900 2004 FUND 16.22 0.1622 Batting Average -18.8 -12.25 Batting Average
-12.4 -9.88 Best Qtr 3.18 UNIVERSE 75th %-tile Worst Qtr 5 Yr UNIVERSE 13.84 Worst Qtr 111.1 29 Worst Qtr
114.6 -11.53 Range 1999 POLICY 95th %-tile Best Qtr -19.8 POLICY 13.19 0.1319 Best Qtr -8.19 Best Qtr
S&P500 -12.52 Worst 4 Qtrs 29.82 Qtr Range -19.5 2003 Range -11.35 Range
Ratio -13.62   Standard Deviation 2/3/1900 -10.32 -0.1032 Worst 4 Qtrs 101.6 29.45 Worst 4 Qtrs -14.45 Worst 4 Qtrs
3 Yr -15.19 Beta -5.03 27 Standard Deviation 12/31/2002 24.5 Standard Deviation -14.96 Standard Deviation
-40.5 2007   Annualized Alpha Returns in Up Markets -12.33 -0.1233 Beta Incept 23.64 Beta -17.49 Beta
-40.8 13.17 R-Squared Fund 50 Annualized Alpha -19 20.59 Annualized Alpha 2007 Annualized Alpha
99.2 83 Sharpe Ratio R1000G -6.28 R-Squared -19.3 16.24   R-Squared 12.37 R-Squared
5 Yr 13.3 Treynor Ratio Ratio -10.13 Sharpe Ratio 4/7/1900 2002 Sharpe Ratio 55 Sharpe Ratio
-31 82 Tracking Error 3 Yr -12.35 Treynor Ratio 2003 FUND -8.3 -0.083 Treynor Ratio 6.08 Treynor Ratio
-30.9 20.14 Information Ratio 14.2 -14.65 Tracking Error UNIVERSE -14.37 Tracking Error 100 Tracking Error
100.2 16.71   Fund 1/15/1900 -20.68   Information Ratio POLICY -17.9 -0.179 Information Ratio 23.98 Information Ratio
6 Yr 15.09 4 3/31/1900 YTD Fund -20.69 Fund 15.39 Fund
-30.8 13.63   8 5 Yr -17.28   14 -22.62 8 12.62 5
-31.3 11.48 50 1/15/1900 10 26 2001   12 9.91 11
98.5 2003 FUND 2006 20.06 -9.47 1/17/1900 -20.88 47.5 7.8   Batting Average 35 7.04 43.75
12/31/1997 UNIVERSE 11.07 7.59 3/29/1900 32 -16.95 -2.53 -8.13 2006 -13.6
Incept POLICY 44 0.44 17.06 10 Yr -15.25 21.83 -10.48   14.81 9.21 13.53
-30.8 11.81 -12.71 27.1 -20.07 38.78 -26.59 22.94 55 27.13
-31.3 28 9.18 31.8 2004 FUND -22.53 -0.2253 -33.13 2002 FUND -27.09   -23.7 14 -23.35
4/7/1900 13.63 0.91 3/25/1900 UNIVERSE -25.72 17.07 UNIVERSE 2000 Standard Deviation 9.85 1 14.95
11.93   -2.35 12/31/1997 POLICY -29.44 -0.2944 0.78   NA 26.23   Beta 0.88 13.25 0.97
10.71 0.87 0.0087 Incept 2007 2 0.02 16.75 Annualized Alpha -1.57 -0.0157 11.5 -1.38 -0.0138
8.99   -0.19 28.7 19.32 0.96 12.87   R-Squared 0.87 9.78 0.82
6.6 -1.9 2/1/1900 46 -0.03 7.17 0.15 6.28 0.02
2002 FUND 2005 20.05 3.47 87.6 19.35   -0.73 1.36 1.72 -2.91 0.33
UNIVERSE 11.17 -0.86 Returns in Down Markets 46 5.8 13.23 3.72 2005 6.35
POLICY 95 0.95 Policy Fund 27.74   0.38 11.43 -0.68 12.93 -0.28
13.96 4 R1000G 21.53 R1000G 10.52 Policy R1000V 91 R2000V
66 8 Ratio 2003 FUND 18.79 0.1879 16   8.78   5 17.75 6
22.41 50 3 Yr UNIVERSE 15.69 24   2005 15 71 10
17.21   -8.57 -20.9 POLICY 10.15 0.1015 52.5   10.7   65 24.63 56.25
14.97 7.4 -24.9 2006 -21.35 85 -8.72 21.81 -7.27
13.26   15.97 83.9 4.42 26.74 16.69 14.19 20.3 13.5
11.01 -8.71 5 Yr 65 48.09 23 22.91 16.98 20.77
2001 FUND 2004 20.04 9.37 ################################## 6.03   -45.64   19.58 -23.56 11.37 -21.63
UNIVERSE 23.62 1 ################################## 49 21.39   16.25 Standard Deviation 10.43 2004 13.93
POLICY 19.76 0.1976 0 3/23/1900 11.56   1   12.45 1 33.25 1
17.24 1 10 Yr 8.5 0 11.74 0 24.88 0
15.21 0.13 -25.2 2002 FUND 5.96 0.0596 1 8.75   1 22.79 1
12.19 1.25 -32.9 UNIVERSE 3.16 -0.13 2004 0.39 19.56 0.15
2003   0 76.4 POLICY -3.37 -0.0337 -2.8 16.73   4.03 13.41 2.11
27.84 Diff 12/31/1997 2005 0 43 0 2003 0
25.03   0 Incept 12.97 Diff 20.52 Diff 36.11 Diff
23.22 0 -25 63 -2 10 3 29.71 -1
2000 FUND 20.96 0.2096 0 -32.9 11.6   2 22.45 -3 26.15 1
UNIVERSE 18.02 -0.9 76 74 -5 18.97 -30 22.71 -12.5
POLICY 2002 20.02 0.19 26.56   4.4 16.22 0.59 14.77 -6.33
-5.31 1.09 18.97 -4.91 13.84 0.62 2002 0.03
-10.93 -4 2001 FUND 14.4 0.144 -9.31 13.19 0.03 9.49 6.36
-13.63 -0.19 UNIVERSE 11.48 12.51 2003 -0.14 2.65 -1.72
-15.7   -0.09 POLICY 7.67 0.0767 -4.32 29.45 -0.58 -2.41 1.02
-18.62 -2.35 2004 -0.22 24.5 -0.12 -6.84 -0.03
2001   -0.13 4.45 2 23.64 -1.57 -14.06 -1.38
4.41 -0.32 88 -0.04 20.59 -0.13 2001 -0.18
1999 FUND -3.06 -0.0306 -3.15 7.51   0.1 16.24 -0.24 14.31 -0.13
UNIVERSE -8.63 3.47 63 2.07 2002 -2.31 8.77 -1.78
POLICY -15.13 -0.1513 Incept 17.89   5.8 -8.3 3.72 3.66 6.35
-20.75 # of Negative Qtrs 11.72 Incept -14.37 Incept -5.01 Incept
2000 # of Positive Qtrs 2000 FUND 8.74 0.0874 # of Negative Qtrs -17.9 # of Negative Qtrs -19.22 # of Negative Qtrs
22.04 Batting Average UNIVERSE 6.26 # of Positive Qtrs -20.69 # of Positive Qtrs 2000 # of Positive Qtrs
15.71 Worst Qtr POLICY 2.04 0.0204 Batting Average -22.62 Batting Average 37.32 Batting Average
11.94 Best Qtr 2003 Worst Qtr 2001 Worst Qtr 26.91 Worst Qtr
7.53 Range 20.02 Best Qtr 7.8 Best Qtr 19.81 Best Qtr
2.05 Worst 4 Qtrs 63 Range -2.53 Range 14.46 Range
1998 FUND 30.71 Standard Deviation 25.91 Worst 4 Qtrs -10.48 Worst 4 Qtrs -0.83 Worst 4 Qtrs
UNIVERSE 16 Beta 19 Standard Deviation -26.59 Standard Deviation Sunrise Standard Deviation
POLICY 28.58 Annualized Alpha 34.24 Beta -27.09 Beta Beta
25 R-Squared 24.4 Annualized Alpha 2000 Annualized Alpha Annualized Alpha
35.85 Sharpe Ratio 21.58 R-Squared 26.23 R-Squared R-Squared
28.5 Treynor Ratio 18.63 Sharpe Ratio 16.75 Sharpe Ratio Sharpe Ratio
25.14 Tracking Error 13.1 Treynor Ratio 12.87 Treynor Ratio Treynor Ratio
17.48 Information Ratio 2002 Tracking Error 7.17 Tracking Error Tracking Error
7.55 Fund -17.69 Information Ratio 1.36 Information Ratio Information Ratio
1997 6 19 Fund Fund Fund
36.26 10 -22.51 15 9 6
32.81 43.75 60 28 14 12
30.27 -9.47 -12.54 48.84 43.48 44.44
25.81 9.74 -18.67 -16.95 -8.13 -13.6
15.95 19.21 -21.5 21.83 17.8 13.53
1996 -12.71 -24.59 38.78 25.93 27.13
28.82 8.97 -30.7 -33.13 -23.7 -23.35
23.34 0.89 2001 17.18 10.39 14.63
21.69 -1.22 -33.13 0.79 0.9 0.93
18.67 0.86 24 2.52 -0.71 -0.0071 -0.22 -0.0022
13.52 0.05 -45.64 0.96 0.88 0.78
0.53 74 0.03 0.4 0.08
3.51 -27.62 0.59 4.58 1.27
-0.57 -33.35 5.73 3.78 6.94
Policy -38.5 0.45 -0.43 -0.11
6 -46.64 R1000G R1000V R2000V
10 -56.07 17 6 6
56.25 2000 26 17 12
-8.57 26.61 51.16 56.52 55.56
10.43 29 -21.35 -8.72 -7.27
19 23.43 26.74 17.27 13.5
-8.71 40 48.09 25.99 20.77
9.37 47.93 -45.64 -23.56 -21.63
1 27.65 21.34 10.79 13.89
0 19.97 1 1 1
1 13.09 0 0 0
0.26 7.83 1 1 1
2.46 -0.1 0.53 0.14
0 -2.11 5.76 1.97
Diff 0 0 0
0 Diff Diff Diff
0 -2 3 0
-12.5 2 -3 0
-0.9 -2.32 -13.04 -11.12
-0.69 4.4 0.59 -6.33
0.21 -4.91 0.53 0.03
-4 -9.31 -0.06 6.36
-0.4 12.51 -0.14 -1.72
-0.11 -4.16 -0.4 0.74
-1.22 -0.21 -0.1 -0.07
-0.14 2.52 -0.71 -0.22
-0.21 -0.04 -0.12 -0.22
-1.93 0.13 -0.13 -0.06
3.51 2.7 -1.18 -0.7
3.51 5.73 3.78 6.94