Open End Mutual Funds Screening Report March 2012

DAWOOD CAPITAL MANAGEMENT LIMITED

OPEN END MUTUAL FUNDS SCREENING REPORT MARCH 2012

Prepared by:

MUSTANSIR SHABBAR HEAD OF CUSTOMER SERVICES

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5B LAKSON SQUARE BUILDING NO. 1, SARWAR SHAHEED ROAD,SADDAR, KARACHI-74200, PAKISTAN UAN: 111-DAWOOD (+92 21 111-329-663); DIR: +92 21 35621002; FAX: +92 21 35621010; CELL: +92 321 3746282 EMAIL: [email protected], [email protected]; URL: www.edawood.com Source: MUFAP & Monthly FMR’s of AMCs

mailto:[email protected]

mailto:[email protected]

http://www.edawood.com/

DAWOOD CAPITAL MANAGEMENT LIMITED

AMC ANALYTICAL REPORT

MARCH 2012

Overall Industry

Pakistan Mutual Funds Industry recorded a decline in overall AUMs by 7.89% MoM and reached to 333.61 bn. It has

recorded a rise of 15.63% QoQ and 34.40% YTD for FY12. The MoM decline was mainly due to quarter end profit taking

by institutional clients to shape up their balance sheets and hopefully we will see an increase in the upcoming months.

Conventional vs. Islamic

Besides overall position, the conventional AUMs were decreased by 9.38% MoM as opposed to 1.31% increase in

Islamic AUMs. However, on QoQ and YTD basis conventional AUMs were increased by 17.34% and 35.28% as compared

to increase of 7.04% and 29.77% in Islamic AUMs respectively.

Mutual Funds vs. Pension Funds

Overall mutual funds have witnessed a decline of 7.97% MoM as opposed to a growth of 6.26% in Pension Funds. On

QoQ and YTD, mutual funds showed a growth of 15.63% and 34.40% as compared to the growth of 15.11% and 35.16%

in Pension Funds respectively. This whopping escalation in Pension Funds growth shows the inclination of investors and

popularity of Pension Schemes. Also the added tax benefits introduced has played a vital role in this regard.

Bond Funds

Bond Funds have witnessed a decline in Mar’12 by 11.79% MoM. Again it was the quarter end issue where major

institutional investors have realized their profits. The major decline was observed in income funds by 13.03%

MoM. On QoQ and YTD they have showed a growth of 15.22% and 53.79% respectively. The major growth was

seen in the sovereign funds which indicate the investors’ inclination towards short term low risk investment

strategies.

Equity Funds

Besides a remarkable performance in the equity markets, equity funds remained static throughout. They saw a meager

growth of 3.67% MoM in Mar’12. On QoQ and YTD, they observed a growth of 18.07% and 0.08% respectively.

Hybrid Funds

Hybrid Funds also remained somehow unresponsive during the Mar’12. They combined showed a meager growth

of 0.83% MoM. However, on QoQ and YTD they have shown a reasonable growth of 7.95% and 5.16% respectively.

The major reason is that unlike vanilla stock funds, hybrid funds come with the facility to take positions according to

the market sentiments and movements saving investors from any major risk.

Special Funds

These funds have witnessed a growth of 2.28% MoM during Mar’12. However, on QoQ and YTD, they have shown a

reasonable increase of 16.65% and 37.77% respectively. The investment strategies of these funds are designed for

special segment of investors looking to take advantage of particular segment of financial markets.

Pension Funds – Conventional vs. Islamic

Conventional Pension Funds have shown a growth of 5.11% MoM in Mar’12 as compared of 7.04% growth in

Islamic. On QoQ basis, conventional funds have witnessed a growth of 12.71% and 29.05% as compared to the

growth of 16.77% and 39.60% in Islamic Funds respectively. This indicates the inclination of investors towards

Islamic savings options for retirement planning. This is the very positive sign for Islamic Financial Industry.

-7.89%

15.63%

34.40%

-20.00%

-10.00%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

MoM QoQ YTD

Total AUMs

-9.38%

17.34%

35.28%

1.31%

7.04%

29.77%

-20.00%

-10.00%

0.00%

10.00%

20.00%

30.00%

40.00%

MoM QoQ YTD

Conventional

Islamic

-7.97%

15.63%

34.40%

6.26%

15.11%

35.16%

-20.00%

0.00%

20.00%

40.00%

MoM QoQ YTD

Mutual Funds

Pension Funds

1.59

%

-0.9

4%

-10.

73%

-13.

03%

18.2

2%

65.5

6%

-11.

62% 14

.26%

53.0

8%

-11.

79%

15.2

2%

53.7

9%

-20.00%

0.00%

20.00%

40.00%

60.00%

80.00%

MoM QoQ YTD

Aggressive Fixed Income Funds

Income Funds

Money Market Funds

Total

3.67%

18.07%

0.08%

0.00%

5.00%

10.00%

15.00%

20.00%

MoM QoQ YTD

Equity Funds

-2.4

2% 4.22

%

22.5

1%

3.02

%

10.4

7%

-3.5

6%0.83

%

7.95

%

5.16

%

-10.00%

0.00%

10.00%

20.00%

30.00%

MoM QoQ YTD

Asset Allocation Funds

Balanced Funds

Total

9.14

%

19

.52

%

6.9

4%

0.8

0%

2.73

%

41.3

5%

3.18

%

47.6

4%

41.4

9%

2.28

%

16.6

5%

37.7

7%

0.00%

20.00%

40.00%

60.00%

MoM QoQ YTD

Index Tracker Funds

Capital Protected Funds

Fund of Funds

Total

5.11

%

12

.71

%

29.0

5%

7.04

%

16.7

7%

39.6

0%

6.26

%

15.1

1%

35.1

6%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

MoM QoQ YTD

Pension Funds Conventional

Pension Funds Islamic

Total

Prepared by: Mustansir Shabbar

FUNDS SCREENING MEASURES

CONVENTIONAL MONEY MARKET FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min SD

Risk Assessment Measures

Standard Deviation 0.03% 0.04% 0.04% 0.03% 0.02% 0.03% 0.07% 0.09% 0.10% 0.09% 0.10% 0.10% 0.08% 0.10% 0.02% 0.03%

Downside Deviation 0.94% 0.94% 0.95% 0.95% 0.99% 1.00% 0.98% 0.85% 0.85% 0.85% 0.86% 0.85% 0.85% 0.90% 1.00% 0.85% 0.07%

Active Return / Alpha -0.10% -0.12% -0.04% -0.01% -0.09% 0.12% 0.14% 0.05% -0.20% -0.19% -0.16% -0.25% -0.19% -0.09% 0.14% -0.25% 0.15%

Corelation (0.38) (0.18) (0.21) (0.28) (1.00) 0.41 0.59 0.05 (0.09) (0.15) (0.23) (0.26) (0.08) 0.59 (1.00) 0.48

Beta (0.19) (0.10) (0.11) (0.14) (0.09) 0.07 0.23 0.04 (0.07) (0.11) (0.21) (0.24) (0.05) 0.23 (0.24) 0.15

R-Squared 0.15 0.03 0.04 0.08 1.00 0.17 0.35 0.00 0.01 0.02 0.05 0.07 0.21 1.00 0.00 0.34

Performance Measures

Annualized Return (YTD) 11.47% 11.50% 11.46% 11.46% 11.64% 11.84% 11.76% 12.09% 11.75% 11.49% 11.37% 11.22% 11.11% 11.59% 12.09% 11.11% 0.31%

Annualized Return (MoM) 12.34% 12.77% 11.95% 12.54% 11.64% 12.00% 11.56% 13.00% 10.32% 10.15% 10.55% 10.08% 10.20% 11.01% 13.00% 10.08% 1.03%

Absolute Return (YTD) 0.99% 2.01% 2.96% 4.06% 4.91% 5.78% 6.68% 7.48% 8.35% 4.80% 8.35% 0.99% 2.51%

Absolute Return (MoM) 0.99% 0.99% 0.96% 0.98% 0.99% 1.02% 0.95% 1.10% 0.85% 0.86% 0.89% 0.80% 0.86% 0.92% 1.10% 0.80% 0.10%

Sum Abs. Return (MoM) 8.45% 9.44% 10.41% 11.38% 0.99% 2.00% 2.95% 4.05% 4.90% 5.76% 6.65% 7.45% 8.31% 4.78% 8.31% 0.99% 2.50%

Benchmark Return 1.10% 1.12% 1.01% 0.98% 1.08% 0.90% 0.81% 1.05% 1.05% 1.05% 1.05% 1.05% 1.05% 1.01% 1.08% 0.81% 0.09%

Risk Adjusted Return -0.11% -0.11% -0.13% -0.15% -0.14% -0.07% -0.14% 0.08% -0.13% -0.13% -0.08% -0.18% -0.12% -0.10% 0.08% -0.18% 0.07%

Coefficient of Variation 0.04 0.04 0.04 0.04 0.02 0.04 0.06 0.10 0.10 0.10 0.11 0.10 0.08 0.11 0.02 0.03

Sharpe (4.01) (3.70) (3.83) (3.92) (4.91) (3.35) (1.03) (0.86) (0.91) (0.94) (0.98) (1.04) (1.75) (0.86) (4.91) 1.53

Sortino (0.15) (0.14) (0.14) (0.14) (0.14) (0.10) (0.12) (0.08) (0.09) (0.10) (0.10) (0.12) (0.12) (0.11) (0.08) (0.14) 0.02

Treynor 0.01 0.01 0.01 0.01 0.01 (0.02) (0.00) (0.02) 0.01 0.01 0.00 0.00 (0.00) 0.01 (0.02) 0.01

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.08% 0.08% 0.08% 0.08% 0.14% 0.13% 0.10% 0.15% 0.15% 0.15% 0.15% 0.15% 0.14% 0.15% 0.10% 0.02%

Information Ratio (1.45) (1.54) (1.47) (1.31) 0.09 0.44 0.53 0.02 (0.19) (0.32) (0.47) (0.58) (0.06) 0.53 (0.58) 0.41

VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR -0.14% -0.14% -0.14% -0.14% -0.14% -0.10% -0.12% -0.07% -0.08% -0.09% -0.09% -0.10% -0.10% -0.10% -0.07% -0.14% 0.02%

Misc. Info

Last NAVs 50.5390 50.6206 50.6883 51.1828 50.1377 50.1889 50.2229 50.3344 50.3189 50.3103 50.3185 50.2788 50.2719 50.26 50.33 50.14 0.07

Payouts 0.42 0.42 0.42 1.1801 0.3581 0.4583 0.4414 0.4414 0.4414 0.4414 0.4414 0.4414 0.4414 0.43 0.46 0.36 0.03

Net Assets 2,390 2,950 2,750 2,710.68 1,868.22 2,123.45 1,930.44 2,001.53 1,876.37 1,896.39 2,050.51 2,033.19 2,367.13 2,016.36 2,367.13 1,868.22 157.91

MoM + / (-) % in NA -22.40% 23.43% -6.78% -1.43% -31.08% 13.66% -9.09% 3.68% -6.25% 1.07% 8.13% -0.85% 16.42% -1.49% 16.42% -31.08% 14.25%

Total + / (-) YTD % in NA 15.91% 43.06% 33.37% 31.46% -31.08% -21.66% -28.78% -26.16% -30.78% -30.04% -24.35% -24.99% -12.67% -25.61% -12.67% -31.08% 5.83%




Active Return / Alpha 0.11% 0.15% 0.09% 0.08% 0.11% 0.17% 0.09% 0.34% 0.03% -0.02% 0.12% -0.04% 0.03% 0.09% 0.34% -0.04% 0.12%

Corelation 0.71 0.62 0.61 0.62 (1.00) (0.25) (0.93) 0.14 0.39 0.40 0.50 0.53 (0.03) 0.53 (1.00) 0.63

Beta 1.11 1.18 1.19 1.20 (2.20) (1.14) (2.63) 0.43 1.37 1.30 1.80 1.95 0.11 1.95 (2.63) 1.84

R-Squared 0.50 0.38 0.38 0.38 1.00 0.06 0.86 0.02 0.15 0.16 0.25 0.28 0.35 1.00 0.02 0.37










Sharpe (3.42) (2.89) (3.03) (3.22) (2.63) (2.56) (0.51) (0.55) (0.65) (0.66) (0.74) (0.81) (1.14) (0.51) (2.63) 0.90

Sortino (0.16) (0.16) (0.16) (0.16) (0.14) (0.09) (0.11) (0.05) (0.08) (0.10) (0.10) (0.12) (0.13) (0.10) (0.05) (0.14) 0.03

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.00 0.00 0.00 0.00 (0.01) (0.00) (0.01) 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.01) 0.00

Tracking Error 0.03% 0.04% 0.04% 0.04% 0.04% 0.04% 0.12% 0.12% 0.13% 0.12% 0.12% 0.12% 0.10% 0.13% 0.04% 0.03%

Information Ratio 2.04 1.83 1.95 2.05 3.20 2.79 1.55 1.26 0.97 1.06 0.84 0.81 1.56 3.20 0.81 0.92

VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 100.4104 101.4283 102.3916 100.2433 101.2300 102.2784 100.4213 101.5879 102.4360 100.5343 101.4615 102.2336 100.5815 101.42 102.44 100.42 0.79

Payouts 2.7500 3.1179 2.8300 2.7100 2.5000 2.68 2.83 2.50 0.17

Net Assets 14,536 14,490 15,697 15,588.18 18,588.54 19,411.81 15,928.97 18,532.54 20,655.13 19,367.37 24,115.79 29,169.58 25,678.12 21,271.98 29,169.58 15,928.97 4,192.18

MoM + / (-) % in NA 0.04% -0.31% 8.33% -0.69% 19.25% 4.43% -17.94% 16.34% 11.45% -6.23% 24.52% 20.96% -11.97% 5.70% 24.52% -17.94% 15.50%

Total + / (-) YTD % in NA 85.45% 84.87% 100.27% 98.88% 19.25% 24.53% 2.19% 18.89% 32.51% 24.24% 54.71% 87.13% 64.73% 36.46% 87.13% 2.19% 26.89%

FOR FY 2011-12

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Prepared by: Mustansir Shabbar, Head of Customer Services, Dawood Capital Management Limited, www.edawood.com



FOR FY 2011-12




Active Return / Alpha 0.33% 0.37% 0.31% 0.31% 0.29% 0.46% 0.38% 0.52% 0.19% 0.14% 0.23% 0.21% 0.26% 0.27% 0.52% 0.14% 0.13%

Corelation (0.19) (0.20) (0.21) (0.22) (1.00) (1.00) 0.65 0.05 (0.20) (0.24) 0.15 0.27 (0.16) 0.65 (1.00) 0.58

Beta (3.60) (3.60) (3.79) (3.94) (6.63) (8.79) 2.64 0.27 (1.23) (1.51) 0.73 1.09 (1.68) 2.64 (8.79) 3.99

R-Squared 0.04 0.04 0.04 0.05 1.00 1.00 0.42 0.00 0.04 0.06 0.02 0.07 0.33 1.00 0.00 0.44








Risk Adjusted Return -0.14% -0.10% -0.14% -0.17% -0.19% 0.00% -0.07% 0.16% -0.12% -0.18% -0.09% -0.17% -0.14% -0.09% 0.16% -0.19% 0.11%


Sharpe 0.01 (0.01) (0.04) (0.08) (0.88) (1.15) (0.24) (0.35) (0.47) (0.52) (0.60) (0.67) (0.61) (0.24) (1.15) 0.29

Sortino 0.00 (0.01) (0.02) (0.04) (0.21) (0.15) (0.11) (0.04) (0.06) (0.09) (0.09) (0.11) (0.11) (0.11) (0.04) (0.21) 0.05

Treynor (0.00) 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.02) (0.02) (0.02) (0.02) (0.03) (0.04) 0.01 0.00 (0.01) (0.01) 0.00 0.00 (0.01) 0.01 (0.04) 0.02

Tracking Error 0.49% 0.46% 0.44% 0.42% 0.12% 0.08% 0.10% 0.13% 0.15% 0.14% 0.14% 0.13% 0.12% 0.15% 0.08% 0.02%


VAMI 1.10 1.11 1.12 1.13 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR 0.00% -0.01% -0.02% -0.03% -0.19% -0.10% -0.09% -0.03% -0.04% -0.07% -0.07% -0.08% -0.09% -0.08% -0.03% -0.19% 0.05%

Misc. Info

Last NAVs 100.4106 101.4222 102.3880 103.3587 101.0419 102.1400 103.1743 104.3981 105.2931 106.1411 103.0800 103.9109 104.7900 103.77 106.14 101.04 1.59

Payouts 1.5000 3.2500 4.0000 4.00 4.00 4.00 #DIV/0!

Net Assets 588.00 624.00 682.00 594.53 571.98 580.05 585.20 771.21 771.69 643.84 676.87 627.57 896.23 680.51 896.23 571.98 110.79

MoM + / (-) % in NA 6.91% 6.12% 9.29% -12.83% -3.79% 1.41% 0.89% 31.78% 0.06% -16.57% 5.13% -7.28% 42.81% 4.67% 42.81% -16.57% 18.99%

Total + / (-) YTD % in NA 6.72% 13.25% 23.77% 7.90% -3.79% -2.44% -1.57% 29.72% 29.80% 8.29% 13.85% 5.56% 50.75% 14.46% 50.75% -3.79% 18.63%




Active Return / Alpha 0.00% 0.02% -0.02% -0.02% 0.01% 0.11% 0.01% 0.32% 0.01% -0.04% 0.11% -0.07% -0.02% 0.05% 0.32% -0.07% 0.12%

Corelation 0.93 0.93 0.92 0.92 (1.00) (0.31) (0.92) 0.06 0.32 0.32 0.45 0.49 (0.07) 0.49 (1.00) 0.60

Beta 0.95 1.02 1.01 1.01 (1.70) (0.81) (2.03) 0.13 0.74 0.66 1.03 1.16 (0.10) 1.16 (2.03) 1.25

R-Squared 0.87 0.86 0.85 0.85 1.00 0.09 0.84 0.00 0.10 0.10 0.20 0.24 0.32 1.00 0.00 0.38










Sharpe (2.12) (1.96) (2.06) (2.18) (1.45) (1.78) (0.20) (0.31) (0.43) (0.41) (0.51) (0.59) (0.71) (0.20) (1.78) 0.58

Sortino (0.13) (0.12) (0.12) (0.12) (0.14) (0.08) (0.09) (0.03) (0.05) (0.07) (0.06) (0.08) (0.09) (0.08) (0.03) (0.14) 0.03

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.00) 0.00

Tracking Error 0.02% 0.02% 0.02% 0.02% 0.07% 0.06% 0.15% 0.13% 0.13% 0.12% 0.12% 0.12% 0.11% 0.15% 0.06% 0.03%

Information Ratio (0.72) (0.51) (0.57) (0.63) 0.91 0.83 0.80 0.70 0.54 0.64 0.47 0.42 0.66 0.91 0.42 0.18

VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 103.1093 101.6049 102.6029 100.6900 101.3300 102.4095 100.6272 100.7880 101.6605 100.4959 100.4399 100.1981 100.1599 100.90 102.41 100.16 0.75

Payouts 2.5700 3.2745 2.7726 1.0576 2.0030 1.0234 1.0221 0.8755 1.46 2.77 0.88 0.76

Net Assets 3,928 5,314 6,435 6,389.90 6,910.82 7,268.30 5,711.36 6,735.78 7,314.73 7,372.91 17,160.26 18,252.62 10,856.95 9,731.53 18,252.62 5,711.36 4,738.48

MoM + / (-) % in NA -2.02% 35.29% 21.10% -0.70% 8.15% 5.17% -21.42% 17.94% 8.60% 0.80% 132.75% 6.37% -40.52% 6.07% 132.75% -40.52% 48.36%

Total + / (-) YTD % in NA 90.49% 157.71% 212.08% 209.89% 8.15% 13.75% -10.62% 5.41% 14.47% 15.38% 168.55% 185.65% 69.91% 52.30% 185.65% -10.62% 74.16%

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FOR FY 2011-12





Corelation (0.22) (0.28) (0.28) (0.27) 1.00 1.00 1.00 (0.45) (0.25) (0.18) (0.07) (0.20) 0.23 1.00 (0.45) 0.65

Beta (0.18) (0.26) (0.27) (0.26) 7.69 10.33 9.56 (1.74) (1.10) (0.75) (0.32) (0.87) 2.85 10.33 (1.74) 5.32

R-Squared 0.05 0.08 0.08 0.08 1.00 1.00 1.00 0.20 0.06 0.03 0.00 0.04 0.42 1.00 0.00 0.48










Sharpe (4.05) (3.77) (3.89) (4.16) (2.71) (3.42) (0.60) (0.64) (0.72) (0.74) (0.81) (0.88) (1.31) (0.60) (3.42) 1.10

Sortino (0.18) (0.18) (0.17) (0.18) (0.18) (0.12) (0.13) (0.07) (0.09) (0.10) (0.10) (0.11) (0.12) (0.12) (0.07) (0.18) 0.03

Treynor 0.01 0.01 0.01 0.01 (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) 0.05 0.06 0.05 (0.01) (0.01) (0.00) (0.00) (0.01) 0.02 0.06 (0.01) 0.03

Tracking Error 0.07% 0.07% 0.06% 0.06% 0.04% 0.03% 0.09% 0.13% 0.13% 0.12% 0.12% 0.12% 0.10% 0.13% 0.03% 0.04%


VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 102.0074 100.1331 101.0762 102.0080 101.2033 102.2303 100.0682 101.2328 102.0815 102.9440 100.1334 100.9182 100.0762 101.21 102.94 100.07 1.04

Payouts 2.8662 1.7578 3.1330 3.7526 1.6894 2.86 3.75 1.69 1.06

Net Assets 8,509 10,031 10,219 10,393.12 10,808.13 11,862.90 8,472.50 10,579.35 10,730.78 11,215.55 12,087.44 12,844.55 12,247.67 11,205.43 12,844.55 8,472.50 1,285.85

MoM + / (-) % in NA -20.49% 17.89% 1.87% 1.70% 3.99% 9.76% -28.58% 24.87% 1.43% 4.52% 7.77% 6.26% -4.65% 1.84% 24.87% -28.58% 14.22%

Total + / (-) YTD % in NA 30.41% 53.73% 56.61% 59.28% 3.99% 14.14% -18.48% 1.79% 3.25% 7.91% 16.30% 23.59% 17.84% 7.82% 23.59% -18.48% 12.37%





Corelation (0.12) 0.24 0.14 0.11 (1.00) (0.96) (0.85) (0.46) (0.63) (0.65) (0.72) (0.73) (0.75) (0.46) (1.00) 0.18

Beta (0.11) 2.96 1.31 1.04 (0.15) (0.20) (0.43) (0.59) (0.81) (0.84) (0.89) (0.83) (0.59) (0.15) (0.89) 0.30

R-Squared 0.01 0.06 0.02 0.01 1.00 0.92 0.72 0.21 0.40 0.43 0.51 0.54 0.59 1.00 0.21 0.27








Risk Adjusted Return -0.16% 1.76% -0.15% -0.19% -0.19% -0.11% -0.14% 0.01% -0.19% -0.18% -0.01% -0.16% -0.15% -0.12% 0.01% -0.19% 0.07%


Sharpe (4.07) 0.00 (0.02) (0.05) (5.63) (7.57) (2.45) (1.36) (1.37) (1.27) (1.32) (1.39) (2.79) (1.27) (7.57) 2.44

Sortino (0.22) 0.00 (0.01) (0.03) (0.20) (0.16) (0.15) (0.13) (0.15) (0.16) (0.14) (0.14) (0.15) (0.15) (0.13) (0.20) 0.02

Treynor 0.02 0.00 (0.00) (0.00) 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00

Jensen's Alpha (0.00) 0.01 0.01 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.07% 0.62% 0.59% 0.57% 0.11% 0.08% 0.10% 0.13% 0.14% 0.14% 0.14% 0.15% 0.12% 0.15% 0.08% 0.02%


VAMI 1.08 1.11 1.12 1.13 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.08 1.05 1.08 1.01 0.03

Excess Return on RFR -0.19% 0.00% -0.01% -0.03% -0.19% -0.15% -0.15% -0.11% -0.12% -0.13% -0.11% -0.12% -0.12% -0.13% -0.11% -0.19% 0.02%

Misc. Info

Last NAVs 10.4638 10.3576 10.4558 10.5535 10.1477 10.2466 10.3438 10.2008 10.2814 10.1146 10.2122 10.2961 10.1322 10.22 10.34 10.11 0.08

Payouts 0.2000 0.5000 0.2500 0.2500 0.2500 0.25 0.25 0.25 0.00

Net Assets 891.43 851.76 857.11 675.99 761.98 757.31 690.41 683.74 715.34 749.20 640.40 492.62 558.72 672.19 761.98 492.62 93.34

MoM + / (-) % in NA -18.38% -4.45% 0.63% -21.13% 12.72% -0.61% -8.83% -0.97% 4.62% 4.73% -14.52% -23.08% 13.42% -2.09% 13.42% -23.08% 12.20%

Total + / (-) YTD % in NA -56.77% -58.69% -58.43% -67.22% 12.72% 12.03% 2.13% 1.15% 5.82% 10.83% -5.27% -27.13% -17.35% -0.56% 12.72% -27.13% 13.81%

BM

A E

MP

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B C

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FOR FY 2011-12




Active Return / Alpha -0.03% -0.08% -0.03% -0.07% -0.04% -0.07% -0.08% -0.04% -0.06% -0.05% -0.03% -0.09% -0.04% -0.05% -0.03% -0.09% 0.02%

Corelation 0.72 0.77 0.76 0.77 1.00 0.83 0.98 0.99 0.99 0.99 0.99 0.99 0.97 1.00 0.83 0.06

Beta 0.57 0.59 0.60 0.60 0.27 0.51 0.82 0.84 0.84 0.85 0.91 0.91 0.74 0.91 0.27 0.23

R-Squared 0.52 0.59 0.58 0.59 1.00 0.69 0.97 0.98 0.99 0.98 0.98 0.97 0.95 1.00 0.69 0.10










Sharpe (3.35) (3.20) (3.34) (3.49) (5.45) (4.31) (0.73) (0.72) (0.79) (0.82) (0.88) (0.95) (1.83) (0.72) (5.45) 1.91

Sortino (0.18) (0.17) (0.17) (0.17) (0.16) (0.12) (0.13) (0.08) (0.10) (0.12) (0.11) (0.13) (0.14) (0.12) (0.08) (0.16) 0.02

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.04% 0.04% 0.04% 0.03% 0.02% 0.02% 0.02% 0.02% 0.01% 0.02% 0.02% 0.02% 0.02% 0.02% 0.01% 0.00%

Information Ratio (1.37) (1.49) (1.49) (1.59) (2.90) (3.48) (3.17) (3.68) (3.88) (3.21) (2.81) (2.76) (3.24) (2.76) (3.88) 0.41

VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.08 1.05 1.08 1.01 0.03


Misc. Info

Last NAVs 100.0678 100.0856 100.0620 101.0097 100.0613 100.1258 100.1097 100.3497 100.2418 100.0996 100.0708 100.0774 100.0825 100.14 100.35 100.06 0.10

Payouts 2.9383 0.9598 0.9645 1.0096 0.9112 0.9391 0.9619 0.9043 0.9340 0.9352 0.9335 0.7503 0.8350 0.90 0.96 0.75 0.07

Net Assets 3,719 4,022 4,215 4,154.53 4,899.38 4,939.95 5,008.47 5,609.90 5,756.73 5,782.87 5,907.45 5,912.92 5,845.36 5,518.11 5,912.92 4,899.38 436.87

MoM + / (-) % in NA -2.92% 8.15% 4.80% -1.43% 17.93% 0.83% 1.39% 12.01% 2.62% 0.45% 2.15% 0.09% -1.14% 3.87% 17.93% -1.14% 6.47%

Total + / (-) YTD % in NA 23.84% 33.93% 40.36% 38.35% 17.93% 18.91% 20.55% 35.03% 38.57% 39.19% 42.19% 42.32% 40.70% 32.82% 42.32% 17.93% 10.52%




Active Return / Alpha -0.02% -0.05% 0.00% -0.03% -0.05% 0.00% -0.02% 0.13% -0.08% -0.10% -0.85% -0.14% -0.03% -0.13% 0.13% -0.85% 0.28%

Corelation 0.23 0.29 0.36 0.42 (1.00) (1.00) (0.98) 0.29 0.48 0.59 0.56 0.52 (0.07) 0.59 (1.00) 0.77

Beta 0.07 0.09 0.13 0.15 (1.07) (1.43) (0.79) 0.40 0.81 3.63 3.32 3.00 0.98 3.63 (1.43) 2.07

R-Squared 0.05 0.08 0.13 0.18 1.00 1.00 0.97 0.08 0.23 0.34 0.32 0.27 0.53 1.00 0.08 0.39










Sharpe (5.54) (5.73) (5.14) (5.04) (6.47) (8.79) (2.86) (1.62) (1.53) (0.74) (0.80) (0.81) (2.95) (0.74) (8.79) 3.03

Sortino (0.20) (0.20) (0.20) (0.20) (0.22) (0.17) (0.17) (0.12) (0.14) (0.16) (0.31) (0.31) (0.30) (0.21) (0.12) (0.31) 0.08

Treynor (0.03) (0.02) (0.01) (0.01) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) 0.00 (0.00) 0.00

Tracking Error 0.09% 0.09% 0.08% 0.08% 0.04% 0.03% 0.08% 0.08% 0.08% 0.32% 0.30% 0.28% 0.15% 0.32% 0.03% 0.13%

Information Ratio 0.28 0.20 0.19 0.16 (0.66) (0.94) 0.17 (0.05) (0.25) (0.43) (0.46) (0.45) (0.38) 0.17 (0.94) 0.35

VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.06 1.06 1.07 1.04 1.07 1.01 0.02


Misc. Info

Last NAVs 10.3461 10.1654 10.2624 10.3594 10.1769 10.1838 10.1889 10.2020 10.1909 10.1821 10.0941 10.0789 10.0745 10.15 10.20 10.07 0.05

Payouts 0.2757 0.2757 0.0908 0.0908 0.0908 0.0928 0.0887 0.0887 0.0887 0.0887 0.09 0.09 0.09 0.00

Net Assets 10,093 11,082 10,878 10,810.43 12,349.83 12,202.11 10,312.46 15,456.07 14,187.40 15,631.64 15,906.38 16,181.50 15,938.24 14,240.63 16,181.50 10,312.46 2,121.31

MoM + / (-) % in NA -4.20% 9.80% -1.84% -0.62% 14.24% -1.20% -15.49% 49.88% -8.21% 10.18% 1.76% 1.73% -1.50% 4.41% 49.88% -15.49% 18.77%

Total + / (-) YTD % in NA 73.87% 90.90% 87.39% 86.23% 14.24% 12.87% -4.61% 42.97% 31.24% 44.60% 47.14% 49.68% 47.43% 31.73% 49.68% -4.61% 19.62%

LAK

SON

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AFA

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SEC

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FOR FY 2011-12





Corelation (0.69) (0.71) (0.72) (0.72) (1.00) 0.28 (0.76) 0.28 0.63 0.56 0.66 0.68 0.17 0.68 (1.00) 0.67

Beta (1.03) (1.17) (1.21) (1.26) (3.89) 1.52 (3.88) 1.53 2.45 1.63 2.09 2.10 0.44 2.45 (3.89) 2.69

R-Squared 0.48 0.50 0.52 0.52 1.00 0.08 0.58 0.08 0.39 0.31 0.44 0.46 0.42 1.00 0.08 0.29










Sharpe (4.18) (3.79) (3.89) (3.90) (2.76) (2.62) (0.81) (0.75) (0.81) (0.83) (0.89) (0.95) (1.30) (0.75) (2.76) 0.86

Sortino (0.19) (0.18) (0.18) (0.18) (0.15) (0.10) (0.12) (0.07) (0.09) (0.11) (0.11) (0.13) (0.13) (0.11) (0.07) (0.15) 0.02

Treynor 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.01) 0.00 (0.01) 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.01) 0.01

Tracking Error 0.06% 0.06% 0.06% 0.06% 0.04% 0.04% 0.09% 0.10% 0.10% 0.09% 0.10% 0.09% 0.08% 0.10% 0.04% 0.03%


VAMI 1.08 1.10 1.11 1.12 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 516.28 507.30 512.07 516.97 502.88 503.06 502.80 503.43 503.65 503.72 504.29 504.15 504.45 503.60 504.45 502.80 0.61

Payouts 14.00 15.00 4.00 5.00 5.00 5.00 4.00 4.00 4.00 4.00 4.00 4.33 5.00 4.00 0.50

Net Assets 2,560 2,844 3,312 3,316.62 3,824.84 4,325.06 3,583.37 3,939.30 4,242.08 4,138.63 4,502.29 4,851.46 4,259.71 4,185.19 4,851.46 3,583.37 375.41

MoM + / (-) % in NA -1.54% 11.09% 16.46% 0.14% 15.32% 13.08% -17.15% 9.93% 7.69% -2.44% 8.79% 7.76% -12.20% 2.82% 15.32% -17.15% 11.43%

Total + / (-) YTD % in NA 24.15% 37.92% 60.62% 60.84% 15.32% 30.41% 8.04% 18.77% 27.90% 24.78% 35.75% 46.28% 28.44% 26.19% 46.28% 8.04% 11.32%





Corelation 0.60 0.63 0.64 0.66 (1.00) (0.63) (0.90) 0.15 0.38 0.41 0.49 0.50 (0.07) 0.50 (1.00) 0.65

Beta 6.17 6.51 6.69 6.64 (2.62) (1.64) (1.31) 0.27 0.77 0.78 1.07 1.12 (0.20) 1.12 (2.62) 1.45

R-Squared 0.36 0.39 0.41 0.43 1.00 0.40 0.80 0.02 0.14 0.17 0.24 0.25 0.38 1.00 0.02 0.34










Sharpe (1.03) (0.98) (0.96) (0.95) (1.99) (2.74) (1.21) (1.04) (1.07) (1.12) (1.16) (1.24) (1.45) (1.04) (2.74) 0.61

Sortino (0.56) (0.50) (0.46) (0.44) (0.24) (0.15) (0.15) (0.11) (0.13) (0.16) (0.15) (0.17) (0.17) (0.16) (0.11) (0.24) 0.04

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.01 0.01 0.02 0.02 (0.01) (0.01) (0.01) (0.00) 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.01) 0.00

Tracking Error 0.39% 0.38% 0.36% 0.35% 0.09% 0.06% 0.11% 0.11% 0.11% 0.10% 0.10% 0.10% 0.10% 0.11% 0.06% 0.02%


VAMI 1.06 1.07 1.08 1.09 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.07 1.08 1.05 1.08 1.01 0.02


Misc. Info

Last NAVs 500.71 500.66 500.73 505.44 500.63 500.61 500.62 500.67 500.71 500.67 500.62 500.64 500.53 500.63 500.71 500.53 0.05

Payouts 4.36 5.00 4.57 5.40 3.94 5.08 4.72 5.37 3.97 3.93 4.42 3.69 4.17 4.37 5.37 3.69 0.58

Net Assets 1,148.99 1,478.96 1,477.62 1,439.20 1,612.59 1,515.50 1,297.87 1,556.95 1,434.31 1,201.17 1,230.37 1,230.30 1,109.97 1,354.34 1,612.59 1,109.97 179.32

MoM + / (-) % in NA -3.98% 28.72% -0.09% -2.60% 12.05% -6.02% -14.36% 19.96% -7.88% -16.25% 2.43% -0.01% -9.78% -2.84% 19.96% -16.25% 12.09%

Total + / (-) YTD % in NA -44.28% -28.28% -28.34% -30.20% 12.05% 5.30% -9.82% 8.18% -0.34% -16.54% -14.51% -14.51% -22.88% -5.90% 12.05% -22.88% 12.46%

ALF

ALA

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FOR FY 2011-12




Active Return / Alpha 0.20% 0.17% 0.12% 0.04% 0.18% 0.27% 0.11% 0.34% 0.06% 0.01% 0.16% -0.07% 0.14% 0.13% 0.34% -0.07% 0.12%

Corelation 0.27 0.25 0.22 0.21 (1.00) (1.00) (0.91) (0.30) 0.28 0.32 0.23 0.28 (0.26) 0.32 (1.00) 0.62

Beta 0.60 0.59 0.51 0.47 (3.11) (4.25) (2.31) (1.18) 1.23 1.07 0.99 0.94 (0.83) 1.23 (4.25) 2.19

R-Squared 0.07 0.06 0.05 0.04 1.00 1.00 0.83 0.09 0.08 0.10 0.05 0.08 0.41 1.00 0.05 0.45










Sharpe (1.59) (1.50) (1.58) (1.72) (0.63) (0.89) (0.21) (0.30) (0.43) (0.44) (0.54) (0.58) (0.50) (0.21) (0.89) 0.21

Sortino (0.15) (0.14) (0.14) (0.14) (0.09) (0.05) (0.08) (0.02) (0.04) (0.07) (0.07) (0.09) (0.10) (0.07) (0.02) (0.10) 0.03

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.01) (0.01) (0.01) (0.00) 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.01) 0.01

Tracking Error 0.00 0.00 0.00 0.00 0.06% 0.08% 0.10% 0.11% 0.12% 0.11% 0.13% 0.12% 0.11% 0.13% 0.06% 0.02%


VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 102.28 103.34 104.33 105.30 101.84 102.97 101.47 102.63 103.54 101.38 102.33 103.10 101.52 102.31 103.54 101.38 0.80

Payouts 2.50 4.50 2.50 3.00 2.50 2.67 3.00 2.50 0.29

Net Assets 1,309.55 1,330.73 1,435.70 1,443.90 1,644.84 1,674.12 1,504.44 1,595.83 1,616.21 1,632.12 1,530.24 1,598.86 1,534.71 1,592.37 1,674.12 1,504.44 57.61

MoM + / (-) % in NA 4.19% 1.62% 7.89% 0.57% 13.92% 1.78% -10.14% 6.07% 1.28% 0.98% -6.24% 4.48% -4.01% 0.68% 13.92% -10.14% 7.13%

Total + / (-) YTD % in NA -7.80% -6.31% 1.08% 1.66% 13.92% 15.94% 4.19% 10.52% 11.93% 13.04% 5.98% 10.73% 6.29% 10.28% 15.94% 4.19% 3.99%





Corelation 0.44 0.42 0.52 0.31 (1.00) (0.85) (0.86) (0.41) (0.08) (0.01) 0.14 0.17 (0.36) 0.17 (1.00) 0.48

Beta 0.64 0.62 0.79 0.40 (0.65) (0.64) (0.83) (0.57) (0.13) (0.01) 0.22 0.28 (0.29) 0.28 (0.83) 0.43

R-Squared 0.19 0.18 0.27 0.10 1.00 0.72 0.73 0.17 0.01 0.00 0.02 0.03 0.33 1.00 0.00 0.41










Sharpe (2.51) (2.65) (2.39) (2.47) (0.47) (0.63) (0.16) (0.29) (0.40) (0.42) (0.51) (0.56) (0.43) (0.16) (0.63) 0.15

Sortino (0.16) (0.16) (0.15) (0.15) (0.22) (0.11) (0.09) (0.03) (0.05) (0.07) (0.07) (0.09) (0.09) (0.09) (0.03) (0.22) 0.06

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.05 (0.00) (0.00) 0.01 0.05 (0.00) 0.02

Jensen's Alpha 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 (0.00) 0.00

Tracking Error 0.00 0.00 0.00 0.00 0.28% 0.20% 0.19% 0.18% 0.17% 0.15% 0.15% 0.14% 0.18% 0.28% 0.14% 0.05%


VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 100.7557 100.6847 100.7704 101.7529 100.1150 100.4846 100.4646 100.7141 100.6331 100.7118 100.8554 100.8955 100.9618 100.65 100.96 100.12 0.26

Payouts 2.8032 1.0258 0.9391 1.5245 1.0351 0.7739 1.0498 0.9174 0.9449 0.7732 0.7877 0.7596 0.8384 0.88 1.05 0.76 0.11

Net Assets 1,959 2,253 2,437 2,694.68 3,290.93 3,863.60 3,364.35 3,567.07 3,829.09 3,700.19 3,422.21 3,659.56 3,549.45 3,582.94 3,863.60 3,290.93 199.76

MoM + / (-) % in NA -2.15% 15.01% 8.17% 10.57% 22.13% 17.40% -12.92% 6.03% 7.35% -3.37% -7.51% 6.94% -3.01% 3.11% 22.13% -12.92% 11.47%

Total + / (-) YTD % in NA 140.07% 176.10% 198.65% 230.23% 22.13% 43.38% 24.85% 32.37% 42.10% 37.31% 27.00% 35.81% 31.72% 32.96% 43.38% 22.13% 7.41%

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FOR FY 2011-12





Corelation 0.97 0.97 0.97 0.97 1.00 0.79 (0.38) 0.18 0.43 0.34 0.53 0.55 0.43 1.00 (0.38) 0.41

Beta 1.25 1.28 1.29 1.30 0.68 1.40 (1.58) 1.01 2.48 1.34 2.14 2.11 1.20 2.48 (1.58) 1.28

R-Squared 0.95 0.93 0.93 0.93 1.00 0.62 0.14 0.03 0.19 0.11 0.29 0.30 0.34 1.00 0.03 0.32










Sharpe (0.86) (0.84) (0.85) (0.87) (3.47) (2.64) (0.53) (0.58) (0.68) (0.68) (0.75) (0.80) (1.27) (0.53) (3.47) 1.13

Sortino (0.28) (0.26) (0.25) (0.24) (0.14) (0.10) (0.12) (0.06) (0.09) (0.11) (0.10) (0.12) (0.12) (0.11) (0.06) (0.14) 0.02

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.00 0.00 0.00 0.00 0.00 0.01 (0.01) 0.00 0.01 0.00 0.01 0.01 0.00 0.01 (0.01) 0.01

Tracking Error 0.10% 0.11% 0.10% 0.10% 0.01% 0.03% 0.11% 0.12% 0.13% 0.12% 0.12% 0.11% 0.09% 0.13% 0.01% 0.05%


VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 10.0088 10.1105 10.2057 10.0188 10.1175 10.2213 10.0164 10.1330 10.2158 10.0246 10.1184 10.1940 10.0276 10.12 10.22 10.02 0.08

Payouts 0.2943 0.2832 0.3008 0.2738 0.2554 0.28 0.30 0.26 0.02

Net Assets 7,269 8,613 13,406 10,650.82 14,873.01 14,572.48 13,431.18 34,324.24 34,124.66 18,616.61 23,041.24 25,661.00 20,092.00 22,081.82 34,324.24 13,431.18 7,967.08

MoM + / (-) % in NA -8.59% 18.49% 55.65% -20.55% 39.64% -2.02% -7.83% 155.56% -0.58% -45.45% 23.77% 11.37% -21.70% 7.31% 155.56% -45.45% 57.52%

Total + / (-) YTD % in NA 308.14% 383.60% 652.72% 498.02% 39.64% 36.82% 26.10% 222.27% 220.39% 74.79% 116.33% 140.93% 88.64% 107.33% 222.27% 26.10% 74.80%




Active Return / Alpha -0.01% -0.01% -0.08% 0.00% 0.06% 0.11% 0.02% 0.23% 0.01% 0.00% 0.11% 0.00% 0.05% 0.06% 0.23% 0.00% 0.08%

Corelation 0.97 0.98 0.97 0.97 (1.00) (0.86) (0.97) 0.68 0.79 0.75 0.81 0.82 0.13 0.82 (1.00) 0.89

Beta 0.49 0.50 0.49 0.49 (1.06) (2.17) (3.48) 1.14 1.35 1.06 1.19 1.18 (0.10) 1.35 (3.48) 1.89

R-Squared 0.95 0.95 0.94 0.94 1.00 0.74 0.94 0.47 0.63 0.57 0.66 0.68 0.71 1.00 0.47 0.18










Sharpe (1.22) (1.20) (1.23) (1.27) (3.01) (2.39) (0.39) (0.45) (0.55) (0.59) (0.67) (0.74) (1.10) (0.39) (3.01) 1.01

Sortino (0.22) (0.20) (0.20) (0.20) (0.11) (0.07) (0.08) (0.03) (0.06) (0.08) (0.08) (0.10) (0.11) (0.08) (0.03) (0.11) 0.02

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.00) 0.00

Tracking Error 0.13% 0.12% 0.13% 0.12% 0.04% 0.04% 0.09% 0.09% 0.09% 0.08% 0.08% 0.08% 0.07% 0.09% 0.04% 0.02%


VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 102.9783 101.1066 102.0744 103.0504 101.0174 102.0788 103.0806 101.5203 102.3651 103.2108 101.3905 102.1863 103.0517 102.21 103.21 101.02 0.80

Payouts 2.9000 3.0500 2.7500 2.7500 2.75 2.75 2.75 0.00

Net Assets 2,976.30 3,628.50 4,190.10 4,112.34 5,900.43 6,515.01 5,040.44 7,070.81 7,616.76 7,892.59 7,798.14 8,528.24 8,248.35 7,178.97 8,528.24 5,040.44 1,156.98

MoM + / (-) % in NA 9.95% 21.91% 15.48% -1.86% 43.48% 10.42% -22.63% 40.28% 7.72% 3.62% -1.20% 9.36% -3.28% 8.04% 43.48% -22.63% 20.77%

Total + / (-) YTD % in NA 309.39% 399.11% 476.35% 465.66% 43.48% 58.43% 22.57% 71.94% 85.22% 91.92% 89.63% 107.38% 100.58% 74.57% 107.38% 22.57% 28.13%

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FOR FY 2011-12




Active Return / Alpha 0.10% 0.02% 0.06% 0.05% 0.04% -0.02% 0.17% 0.30% 0.00% 0.00% 0.08% -0.09% 0.03% 0.06% 0.30% -0.09% 0.12%

Corelation 0.99 0.98 0.98 0.98 1.00 0.31 (0.67) 0.11 0.33 0.34 0.39 0.40 0.27 1.00 (0.67) 0.46

Beta 0.81 0.84 0.88 0.91 3.97 4.56 (1.45) 0.24 0.73 0.75 1.02 1.06 1.36 4.56 (1.45) 1.97

R-Squared 0.97 0.96 0.96 0.96 1.00 0.10 0.45 0.01 0.11 0.11 0.15 0.16 0.26 1.00 0.01 0.33










Sharpe (1.61) (1.78) (1.85) (1.95) (4.18) (1.54) (0.83) (0.86) (0.95) (0.98) (1.04) (1.10) (1.44) (0.83) (4.18) 1.13

Sortino (0.31) (0.30) (0.21) (0.24) (0.16) (0.12) (0.14) (0.16) (0.15) (0.17) (0.17) (0.17) (0.12) (0.24) 0.04

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) 0.00 0.00 0.01 0.01 (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.01 (0.00) 0.00

Tracking Error 0.03% 0.03% 0.03% 0.03% 0.04% 0.10% 0.14% 0.14% 0.13% 0.12% 0.12% 0.12% 0.11% 0.14% 0.04% 0.03%


VAMI 1.03 1.04 1.05 1.06 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.07 1.08 1.05 1.08 1.01 0.03


Misc. Info

Last NAVs 102.94 101.83 102.75 103.68 101.26 102.13 103.20 100.59 101.38 102.18 103.09 102.18 103.04 102.12 103.20 100.59 0.91

Payouts 2.00 3.35 3.75 1.65 2.70 3.75 1.65 1.48

Net Assets 321.71 439.71 511.00 579.74 692.04 674.42 574.02 410.42 1,492.82 1,889.17 1,783.35 1,996.94 2,084.11 1,288.59 2,084.11 410.42 688.90

MoM + / (-) % in NA -35.27% 36.68% 16.21% 13.45% 19.37% -2.55% -14.89% -28.50% 263.73% 26.55% -5.60% 11.98% 4.37% 15.28% 263.73% -28.50% 89.09%

Total + / (-) YTD % in NA -15.12% 16.02% 34.83% 52.96% 19.37% 16.33% -0.99% -29.21% 157.50% 225.87% 207.61% 244.46% 259.49% 122.27% 259.49% -29.21% 118.83%




Active Return / Alpha 0.13% 0.06% 0.16% 0.15% 0.25% 0.07% 0.18% 0.35% 0.02% -0.01% 0.15% -0.04% 0.03% 0.11% 0.35% -0.04% 0.13%

Corelation 0.84 0.83 0.84 0.85 1.00 0.59 (0.42) 0.13 0.34 0.33 0.42 0.46 0.36 1.00 (0.42) 0.40

Beta 0.54 0.54 0.58 0.62 6.56 3.15 (1.36) 0.58 1.68 1.61 2.33 2.56 2.14 6.56 (1.36) 2.27

R-Squared 0.71 0.69 0.70 0.72 1.00 0.34 0.18 0.02 0.11 0.11 0.18 0.21 0.27 1.00 0.02 0.31










Sharpe (1.43) (1.54) (1.53) (1.46) (0.76) (0.98) (0.40) (0.49) (0.60) (0.59) (0.68) (0.75) (0.66) (0.40) (0.98) 0.18

Sortino (0.32) (0.30) (0.27) (0.25) (0.02) (0.10) (0.10) (0.05) (0.08) (0.10) (0.09) (0.11) (0.12) (0.09) (0.02) (0.12) 0.03

Treynor (0.01) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) 0.00 0.02 0.01 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.02 (0.00) 0.01

Tracking Error 0.12% 0.12% 0.10% 0.09% 0.13% 0.09% 0.12% 0.13% 0.14% 0.13% 0.14% 0.13% 0.13% 0.14% 0.09% 0.02%


VAMI 1.03 1.04 1.05 1.06 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 100.2449 100.1967 100.2025 101.2108 100.3609 100.2661 100.2755 100.4204 100.2888 100.2774 100.4299 100.3360 100.3169 100.33 100.43 100.27 0.06

Payouts 0.8500 0.9500 0.9500 1.1000 0.8500 1.0000 1.0000 1.0000 0.9500 0.8000 0.8000 0.8500 0.8500 0.90 1.00 0.80 0.09

Net Assets 336 1,089 1,087 1,189.12 1,247.46 1,063.98 753.82 1,311.10 1,952.82 1,940.11 2,363.11 2,205.99 2,318.28 1,684.07 2,363.11 753.82 597.19

MoM + / (-) % in NA -3.45% 224.11% -0.18% 9.39% 4.91% -14.71% -29.15% 73.93% 48.95% -0.65% 21.80% -6.65% 5.09% 7.70% 73.93% -29.15% 32.22%

Total + / (-) YTD % in NA -6.93% 201.66% 201.11% 229.40% 4.91% -10.52% -36.61% 10.26% 64.22% 63.15% 98.73% 85.51% 94.96% 41.62% 98.73% -36.61% 50.22%

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FOR FY 2011-12


Standard Deviation 0.18% 0.14% 0.12% 0.04% 0.04% 0.08% 0.11% 0.12% 0.11% 0.12% 0.12% 0.09% 0.12% 0.04% 0.04%


Active Return / Alpha -0.15% -0.16% -0.16% -0.19% -0.15% -0.08% -0.16% 0.10% -0.16% -0.19% -0.11% -0.23% -0.15% -0.12% 0.10% -0.23% 0.10%

Corelation 1.00 1.00 1.00 (1.00) (0.28) (0.91) 0.23 0.44 0.50 0.58 0.60 0.02 0.60 (1.00) 0.67

Beta 0.48 0.63 0.68 (1.07) (0.60) (1.09) 0.31 0.68 0.75 0.98 1.02 0.12 1.02 (1.09) 0.90

R-Squared 1.00 1.00 0.99 1.00 0.08 0.83 0.05 0.19 0.25 0.34 0.36 0.39 1.00 0.05 0.35









Coefficient of Variation 0.22 0.17 0.14 0.04 0.04 0.08 0.11 0.13 0.12 0.14 0.13 0.10 0.14 0.04 0.04

Sharpe (1.60) (1.73) (1.90) (3.13) (3.06) (0.89) (0.79) (0.85) (0.91) (0.96) (1.04) (1.45) (0.79) (3.13) 1.02

Sortino (0.60) (0.35) (0.29) (0.26) (0.16) (0.11) (0.13) (0.08) (0.10) (0.12) (0.12) (0.14) (0.15) (0.12) (0.08) (0.16) 0.02

Treynor (0.01) (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.01% 0.01% 0.02% 0.05% 0.05% 0.12% 0.11% 0.11% 0.10% 0.10% 0.10% 0.09% 0.12% 0.05% 0.03%

Information Ratio (18.99) (17.96) (10.16) (2.20) (2.87) (0.58) (0.78) (0.96) (1.06) (1.19) (1.30) (1.37) (0.58) (2.87) 0.78

VAMI 1.01 1.02 1.03 1.04 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.08 1.05 1.08 1.01 0.03


Misc. Info

Last NAVs 100.6900 101.1400 102.0800 103.03 101.00 102.03 102.99 101.39 102.22 103.04 101.13 101.88 102.73 102.04 103.04 101.00 0.77

Payouts 0.5000 3.00 2.75 2.80 2.78 2.80 2.75 0.04

Net Assets 396.86 613.11 598.89 569.99 636.48 940.07 1,008.52 1,117.87 1,296.23 1,394.20 1,030.44 1,129.33 1,099.33 1,072.50 1,394.20 636.48 215.95

MoM + / (-) % in NA 54.49% -2.32% -4.83% 11.67% 47.70% 7.28% 10.84% 15.96% 7.56% -26.09% 9.60% -2.66% 7.57% 47.70% -26.09% 19.13%

Total + / (-) YTD % in NA 54.49% 50.91% 43.62% 11.67% 64.93% 76.94% 96.12% 127.41% 144.60% 80.78% 98.13% 92.87% 88.16% 144.60% 11.67% 37.89%


Standard Deviation 0.24% 0.35% 0.30% 0.35% 0.24% 0.07%

Downside Deviation 0.00% 0.47% 0.38% 0.28% 0.47% 0.00% 0.25%

Active Return / Alpha -0.52% -0.16% 0.19% -0.17% 0.19% -0.52% 0.35%

Corelation (1.00) (0.86) (0.93) (0.86) (1.00) 0.10

Beta (13.79) (27.78) (20.79) (13.79) (27.78) 9.89

R-Squared 1.00 0.74 0.87 1.00 0.74 0.18


Annualized Return (YTD) 9.78% 12.47% 12.24% 11.50% 12.47% 9.78% 1.49%

Annualized Return (MoM) 9.78% 8.40% 12.01% 9.96% 12.01% 8.40% 1.83%

Absolute Return (YTD) 0.32% 0.99% 2.01% 1.11% 2.01% 0.32% 0.85%

Absolute Return (MoM) 0.32% 0.67% 1.02% 0.60% 1.02% 0.32% 0.35%

Sum Abs. Return (MoM) 0.32% 0.99% 2.00% 1.10% 2.00% 0.32% 0.85%

Benchmark Return 0.84% 0.83% 0.83% 0.83% 0.84% 0.83% 0.01%

Risk Adjusted Return 0.29% -0.31% 0.03% 0.00% 0.29% -0.31% 0.30%

Coefficient of Variation 0.49 0.52 0.51 0.52 0.49 0.02

Sharpe (1.98) (0.89) (1.43) (0.89) (1.98) 0.77

Sortino (1.02) (0.81) (0.92) (0.81) (1.02) 0.15

Treynor 0.00 0.00 0.00 0.00 0.00 0.00

Jensen's Alpha (0.02) (0.04) (0.03) (0.02) (0.04) 0.01

Tracking Error 0.25% 0.35% 0.30% 0.35% 0.25% 0.07%

Information Ratio (1.36) (0.47) (0.91) (0.47) (1.36) 0.63

VAMI 1.00 1.01 1.02 1.01 1.02 1.00 0.01

Excess Return on RFR -0.65% -0.48% -0.31% -0.48% -0.31% -0.65% 0.17%

Misc. Info

Last NAVs 50.16 50.06 50.57 50.26 50.57 50.06 0.27

Payouts 0.4364 0.44 0.44 0.44 #DIV/0!

Net Assets 95.38 95.57 103.11 98.02 103.11 95.38 4.41

MoM + / (-) % in NA 0.20% 7.89% 1.24% 7.89% 0.20% 5.44%

Total + / (-) YTD % in NA 0.20% 8.10% 4.15% 8.10% 0.20% 5.59%

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Standard Deviation 0.51% 0.51% 0.51% 0.51% #DIV/0!

Downside Deviation 0.00% 0.63% 0.31% 0.63% 0.00% 0.45%

Active Return / Alpha -0.67% 0.31% -0.18% 0.31% -0.67% 0.69%

Corelation (1.00) (1.00) (1.00) (1.00) #DIV/0!

Beta (1.39) (1.39) (1.39) (1.39) #DIV/0!

R-Squared 1.00 1.00 1.00 1.00 #DIV/0!


Annualized Return (YTD) 10.43% 12.55% 11.49% 12.55% 10.43% 1.50%

Annualized Return (MoM) 10.43% 10.51% 10.47% 10.51% 10.43% 0.06%

Absolute Return (YTD) 0.17% 1.06% 0.62% 1.06% 0.17% 0.63%

Absolute Return (MoM) 0.17% 0.89% 0.39% 0.89% 0.17% 0.51%

Sum Abs. Return (MoM) 0.17% 1.06% 0.62% 1.06% 0.17% 0.63%

Benchmark Return 0.84% 0.58% 0.70% 0.84% 0.58% 0.18%

Risk Adjusted Return 0.14% -0.10% 0.02% 0.14% -0.10% 0.17%

Coefficient of Variation 0.96 0.96 0.96 0.96 #DIV/0!

Sharpe (0.89) (0.89) (0.89) (0.89) #DIV/0!

Sortino (0.72) (0.72) (0.72) (0.72) #DIV/0!

Treynor 0.00 0.00 0.00 0.00 #DIV/0!

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) #DIV/0!

Tracking Error 0.69% 0.69% 0.69% 0.69% #DIV/0!

Information Ratio (0.26) (0.26) (0.26) (0.26) #DIV/0!

VAMI 1.00 1.01 1.01 1.01 1.00 0.01

Excess Return on RFR -0.81% -0.45% -0.63% -0.45% -0.81% 0.25%

Misc. Info

Last NAVs 10.0171 10.0193 10.02 10.02 10.02 0.00

Payouts 0.0870 0.09 0.09 0.09 #DIV/0!

Net Assets 1,145.00 1,113.00 1,129.00 1,145.00 1,113.00 22.63

MoM + / (-) % in NA -2.79% -2.79% -2.79% -2.79% #DIV/0!

Total + / (-) YTD % in NA -2.79% -2.79% -2.79% -2.79% #DIV/0!




Active Return / Alpha 0.13% 0.24% 0.11% 0.11% 0.12% 0.20% 0.15% 0.32% 0.05% 0.03% 0.07% -0.05% 0.10% #NUM! 0.32% -0.05% 0.11%

Corelation 0.38 0.44 0.44 0.43 (0.41) (0.17) (0.43) 0.10 0.27 0.27 0.29 0.25 0.02 0.29 (0.43) 0.31

Beta 0.51 0.71 0.63 0.58 (0.30) (0.01) (0.58) 0.18 0.69 0.72 0.27 (0.63) 0.04 0.72 (0.63) 0.52

R-Squared 0.43 0.46 0.47 0.46 1.00 0.53 0.68 0.14 0.23 0.23 0.33 0.40 0.44 1.00 0.14 0.29

Performance Measures - -









Sharpe (2.56) (2.19) (2.20) (2.27) (2.97) (2.97) (0.83) (0.70) (0.78) (0.75) (0.93) (0.98) (1.36) (0.70) (2.97) 1.00

Sortino (0.23) (0.19) (0.19) (0.19) (0.16) (0.12) (0.12) (0.07) (0.09) (0.11) (0.11) (0.19) (0.23) (0.13) (0.07) (0.23) 0.05

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00 (0.00) 0.00 0.00 (0.00) (0.00) 0.00 0.00 (0.00) 0.00

Jensen's Alpha (0.00) 0.00 (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Tracking Error 0.12% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.12% 0.18% 0.07% 0.04%

Information Ratio 1.35 (0.04) 0.10 0.59 4.40 2.49 1.65 1.11 0.88 1.01 0.77 0.80 1.64 4.40 0.77 1.26

VAMI 1.07 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.13 1.19 1.20 1.08 1.20 1.01 0.07


Misc. Info - - -

Last NAVs 130.2495 129.5404 130.3024 131.1681 129.0912 129.6264 129.4161 129.4466 129.8533 129.7667 132.3659 133.1547 133.1400 130.65 133.15 129.09 1.71

Payouts 2.0462 2.5898 1.5687 3.0337 1.8491 1.9060 2.0667 2.0235 1.6190 1.6004 2.1498 1.3689 1.3843 1.77 2.15 1.37 0.29

Net Assets 3,701.8595 4,214.9864 4,716.9658 4,547.87 5,322.44 5,546.48 4,658.70 6,780.22 7,036.07 6,180.27 7,373.05 8,095.11 7,052.97 6,449.48 8,095.11 4,658.70 1,103.62

MoM + / (-) % in NA -6.52% 29.88% 9.10% -1.93% 13.17% 5.80% -12.99% 26.45% 21.09% -1.79% 10.46% 3.48% -1.72% 6.48% 26.45% -12.99% 12.21%

Total + / (-) YTD % in NA 61.10% 97.24% 126.08% 118.64% 13.17% 19.60% 4.48% 32.36% 50.66% 45.84% 56.50% 64.51% 55.69% 38.09% 64.51% 4.48% 21.48%

Category NA 61,782.62 70,175.81 78,710.80 75,874.56 88,868.91 92,774.61 77,899.97 113,706.75 118,178.85 103,863.37 124,111.50 136,386.50 118,790.46 108,286.77 136,386.50 77,899.97 18,835.40

1.10% 1.10% 1.10% 1.12% 1.12% 1.09% 1.09% 1.02% 0.98% 0.99% 0.97% 0.98% 0.99% 1.02% 1.12% 0.97% 0.06%Risk Free Rate - 3M T-Bill (MoM)

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CONVENTIONAL INCOME FUNDFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min SD



Downside Deviation 0.44% 0.41% 0.39% 0.38% 0.70% 0.57% 0.50% 0.56% 0.52% 0.49% 0.53% 0.50% 0.55% 0.70% 0.49% 0.07%

Active Return / Alpha 1.68% 2.06% 1.48% 1.77% 0.27% -0.12% 0.00% 0.24% -0.22% -0.74% 0.01% -0.20% 0.08% -0.08% 0.27% -0.74% 0.30%

Corelation 0.22 0.27 0.28 0.30 1.00 0.96 0.06 0.58 0.68 0.60 0.62 0.56 0.63 1.00 0.06 0.29

Beta 9.45 11.51 12.03 12.90 5.93 6.83 0.16 1.70 3.39 2.84 2.87 2.57 3.29 6.83 0.16 2.16

R-Squared 0.05 0.07 0.08 0.09 1.00 0.93 0.00 0.33 0.46 0.36 0.38 0.32 0.47 1.00 0.00 0.33








Risk Adjusted Return 1.70% 2.08% 1.50% 1.78% 0.30% -0.09% 0.03% 0.24% -0.21% -0.73% 0.03% -0.19% 0.09% -0.06% 0.30% -0.73% 0.30%


Sharpe 0.40 0.48 0.54 0.60 0.34 0.35 0.64 0.21 (0.18) (0.16) (0.22) (0.17) 0.10 0.64 (0.22) 0.33

Sortino 1.78 2.19 2.43 2.72 0.14 0.14 0.24 0.10 (0.15) (0.13) (0.14) (0.12) 0.01 0.24 (0.15) 0.16

Treynor 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 0.01 (0.00) 0.00

Jensen's Alpha 0.01 0.01 0.01 0.01 (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Tracking Error 1.93% 1.87% 1.78% 1.72% 0.28% 0.20% 0.19% 0.22% 0.37% 0.34% 0.32% 0.30% 0.28% 0.37% 0.19% 0.07%

Information Ratio 0.39 0.48 0.53 0.59 0.27 0.25 0.52 0.16 (0.25) (0.23) (0.30) (0.25) 0.02 0.52 (0.30) 0.32

VAMI 1.18 1.22 1.25 1.28 1.01 1.02 1.04 1.05 1.06 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR 0.78% 0.91% 0.96% 1.03% 0.30% 0.10% 0.08% 0.12% 0.05% -0.08% -0.06% -0.08% -0.06% 0.04% 0.30% -0.08% 0.12%

Misc. Info

Last NAVs 77.0802 79.5344 81.5970 83.9655 73.9004 74.6347 75.4683 76.4228 77.0117 77.2111 77.9875 78.6022 79.4492 76.7431 79.4492 73.9004 1.8328

Payouts 11.1000

Net Assets 381.77 437.68 460.39 452.13 444.53 478.54 475.96 482.48 486.61 450.25 484.04 479.80 454.12 470.70 486.61 444.53 16.28

MoM + / (-) % in NA 3.74% 14.64% 5.19% -1.80% -1.68% 7.65% -0.54% 1.37% 0.86% -7.47% 7.51% -0.88% -5.35% 0.05% 7.65% -7.47% 5.07%

Total + / (-) YTD % in NA -0.61% 13.95% 19.86% 17.71% -1.68% 5.84% 5.27% 6.71% 7.63% -0.42% 7.06% 6.12% 0.44% 4.11% 7.63% -1.68% 3.60%




Active Return / Alpha 0.17% 0.47% 0.33% -0.56% -0.16% -0.39% -0.14% -0.42% -0.25% 0.35% -0.12% -0.10% 0.23% -0.11% 0.35% -0.42% 0.26%

Corelation 0.22 0.19 0.18 0.18 1.00 0.57 0.67 0.79 0.14 0.20 0.25 0.12 0.47 1.00 0.12 0.34

Beta 5.80 4.80 4.54 4.44 1.88 0.46 0.38 0.51 0.10 0.15 0.19 0.09 0.47 1.88 0.09 0.59

R-Squared 0.05 0.04 0.03 0.03 1.00 0.33 0.45 0.62 0.02 0.04 0.06 0.01 0.32 1.00 0.01 0.36








Risk Adjusted Return 0.16% 0.47% 0.26% -0.69% -0.22% -0.49% -0.42% -0.16% -0.47% 0.05% -0.34% -0.35% -0.10% -0.28% 0.05% -0.49% 0.18%


Sharpe 0.26 0.26 0.26 0.23 (1.62) (2.32) (2.15) (2.08) (1.40) (1.53) (1.65) (1.55) (1.79) (1.40) (2.32) 0.34

Sortino 1.59 1.57 1.54 1.35 (0.24) (0.47) (0.52) (0.42) (0.49) (0.43) (0.45) (0.46) (0.41) (0.43) (0.24) (0.52) 0.08

Treynor 0.00 0.00 0.00 0.00 (0.00) (0.01) (0.01) (0.01) (0.03) (0.02) (0.02) (0.03) (0.01) (0.00) (0.03) 0.01

Jensen's Alpha 0.02 0.02 0.01 0.01 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 4.29% 4.05% 3.85% 3.70% 0.16% 0.14% 0.15% 0.13% 0.28% 0.26% 0.24% 0.26% 0.20% 0.28% 0.13% 0.06%

Information Ratio 0.29 0.29 0.29 0.26 (1.71) (1.64) (1.86) (2.10) (0.60) (0.63) (0.64) (0.43) (1.20) (0.43) (2.10) 0.68

VAMI 1.21 1.23 1.24 1.25 1.01 1.02 1.02 1.03 1.04 1.05 1.05 1.06 1.07 1.04 1.07 1.01 0.02

Excess Return on RFR 1.13% 1.06% 0.99% 0.85% -0.22% -0.36% -0.38% -0.33% -0.35% -0.29% -0.29% -0.30% -0.28% -0.31% -0.22% -0.38% 0.05%

Misc. Info

Last NAVs 51.45 52.26 52.97 53.20 52.43 52.74 52.29 52.74 53.01 53.56 52.53 52.86 52.23 52.7100 53.5600 52.2300 0.4115

Payouts 1.50 1.24 0.80 1.37 1.10 1.0900 1.3700 0.8000 0.2851

Net Assets 1,900 1,880 1,810 1,813.58 1,794.10 1,722.24 1,710.62 1,692.09 1,701.57 1,684.86 1,681.03 1,417.94 1,422.00 1,647.38 1,794.10 1,417.94 133.25

MoM + / (-) % in NA 0.53% -1.05% -3.72% 0.20% -1.07% -4.01% -0.67% -1.08% 0.56% -0.98% -0.23% -15.65% 0.29% -2.67% 0.56% -15.65% 5.09%

Total + / (-) YTD % in NA -9.52% -10.48% -13.81% -13.64% -1.07% -5.04% -5.68% -6.70% -6.18% -7.10% -7.31% -21.82% -21.59% -9.16% -1.07% -21.82% 7.35%

FOR FY 2011-12

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FOR FY 2011-12




Active Return / Alpha 0.16% 0.20% -0.23% -0.01% -0.07% 0.19% 0.04% 0.34% 0.04% -0.22% 0.37% -0.05% 0.16% 0.09% 0.37% -0.22% 0.20%

Corelation (0.42) (0.41) (0.40) (0.36) (1.00) (0.41) 0.88 0.91 0.94 0.83 0.85 0.84 0.48 0.94 (1.00) 0.75

Beta (0.55) (0.57) (0.58) (0.54) (1.09) (0.52) 1.35 1.21 1.42 1.21 1.27 1.19 0.75 1.42 (1.09) 0.98

R-Squared 0.17 0.16 0.16 0.13 1.00 0.17 0.78 0.82 0.89 0.69 0.73 0.70 0.72 1.00 0.17 0.25








Risk Adjusted Return -0.06% -0.07% -0.48% -0.20% -0.13% 0.09% -0.08% 0.61% -0.17% -0.53% 0.16% -0.31% -0.17% -0.06% 0.61% -0.53% 0.32%


Sharpe (1.05) (0.99) (1.09) (1.11) (0.16) (0.40) 0.41 0.20 (0.09) (0.02) (0.13) (0.18) (0.05) 0.41 (0.40) 0.25

Sortino (0.33) (0.29) (0.33) (0.32) (0.13) (0.03) (0.05) 0.17 0.09 (0.05) (0.01) (0.07) (0.09) (0.02) 0.17 (0.13) 0.09

Treynor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00

Tracking Error 0.37% 0.36% 0.34% 0.33% 0.19% 0.13% 0.18% 0.16% 0.20% 0.22% 0.21% 0.20% 0.19% 0.22% 0.13% 0.03%


VAMI 1.07 1.09 1.09 1.10 1.01 1.02 1.03 1.05 1.06 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR -0.27% -0.25% -0.27% -0.27% -0.13% -0.02% -0.04% 0.12% 0.06% -0.04% -0.01% -0.05% -0.06% -0.02% 0.12% -0.13% 0.07%

Misc. Info

Last NAVs 51.14 51.67 51.99 52.47 50.19 50.78 49.76 50.57 50.98 51.21 49.74 50.07 49.73 50.3367 51.2100 49.7300 0.5675

Payouts 2.77 1.53 2.05 0.75 1.4433 2.0500 0.7500 0.6543

Net Assets 1,910 1,930 1,660 2,944.46 2,892.78 2,927.27 5,106.56 5,894.72 6,758.47 6,000.77 6,308.71 6,163.15 5,977.94 5,336.71 6,758.47 2,892.78 1,442.39

MoM + / (-) % in NA 1.06% 1.05% -13.99% 77.38% -1.76% 1.19% 74.45% 15.43% 14.65% -11.21% 5.13% -2.31% -3.01% 8.19% 74.45% -11.21% 25.53%

Total + / (-) YTD % in NA 26.85% 28.18% 10.24% 95.55% -1.76% -0.58% 73.43% 100.20% 129.53% 103.80% 114.26% 109.31% 103.02% 81.25% 129.53% -1.76% 48.99%




Active Return / Alpha 0.35% -0.22% -7.88% -1.27% -0.15% 0.85% -0.01% 0.71% -0.11% -0.44% 0.19% -0.14% -0.04% 0.09% 0.85% -0.44% 0.42%

Corelation (0.05) (0.12) (0.39) (0.39) (1.00) (0.82) (0.54) (0.16) 0.14 0.14 0.12 0.15 (0.25) 0.15 (1.00) 0.48

Beta (0.21) (0.40) (3.09) (2.95) (11.21) (13.18) (2.56) (0.80) 0.85 0.78 0.73 0.87 (3.06) 0.87 (13.18) 5.78

R-Squared 0.00 0.01 0.15 0.15 1.00 0.67 0.30 0.02 0.02 0.02 0.02 0.02 0.26 1.00 0.02 0.38



Annualized Return (MoM) 18.83% 12.15% -56.10% -1.27% 11.62% 22.87% 13.33% 19.83% 10.84% 6.40% 13.58% 11.45% 11.29% 12.69% 22.87% 6.40% 4.97%


Absolute Return (MoM) 1.48% 0.95% -6.75% -0.11% 0.98% 1.94% 1.09% 1.68% 0.89% 0.54% 1.15% 0.91% 0.96% 1.06% 1.94% 0.54% 0.43%



Risk Adjusted Return 0.37% -0.16% -7.85% -1.23% -0.14% 0.85% 0.01% 0.66% -0.09% -0.44% 0.18% -0.07% -0.03% 0.10% 0.85% -0.44% 0.41%


Sharpe 0.33 0.30 (0.15) (0.19) 0.53 0.46 0.75 0.55 0.27 0.30 0.26 0.24 0.42 0.75 0.24 0.18

Sortino 0.94 0.68 (0.20) (0.24) (0.14) 0.51 0.42 0.70 0.43 0.24 0.27 0.20 0.16 0.31 0.70 (0.14) 0.24

Treynor (0.02) (0.01) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00

Jensen's Alpha 0.00 0.00 (0.01) (0.01) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Tracking Error 1.21% 1.19% 2.81% 2.70% 0.70% 0.54% 0.50% 0.48% 0.52% 0.47% 0.45% 0.42% 0.51% 0.70% 0.42% 0.09%

Information Ratio 0.63 0.56 (0.04) (0.08) 0.49 0.42 0.69 0.54 0.27 0.31 0.25 0.23 0.40 0.69 0.23 0.17

VAMI 1.14 1.15 1.07 1.07 1.01 1.03 1.04 1.06 1.07 1.07 1.09 1.10 1.11 1.06 1.11 1.01 0.03

Excess Return on RFR 0.39% 0.33% -0.41% -0.48% -0.14% 0.35% 0.24% 0.34% 0.26% 0.14% 0.15% 0.12% 0.10% 0.17% 0.35% -0.14% 0.15%

Misc. Info

Last NAVs 90.80 91.66 85.47 85.38 86.22 87.89 86.35 87.80 88.58 86.06 87.05 87.84 86.18 87.1078 88.5800 86.0600 0.9433

Payouts 2.00 2.50 3.00 2.50 2.6667 3.0000 2.5000 0.2887

Net Assets 709.44 630.89 524.37 721.09 724.13 679.05 694.32 776.34 771.29 673.86 678.91 688.69 705.67 710.25 776.34 673.86 39.22

MoM + / (-) % in NA -1.32% -11.07% -16.88% 37.51% 0.42% -6.23% 2.25% 11.81% -0.65% -12.63% 0.75% 1.44% 2.47% -0.24% 11.81% -12.63% 6.64%

Total + / (-) YTD % in NA -28.82% -36.70% -47.39% -27.65% 0.42% -5.83% -3.71% 7.66% 6.96% -6.55% -5.85% -4.49% -2.14% -1.50% 7.66% -6.55% 5.44%

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FOR FY 2011-12




Active Return / Alpha 1.02% 0.03% -0.33% -1.10% -1.05% -5.01% 0.14% -0.03% -0.19% -0.03% -0.08% -0.26% -0.33% -0.77% 0.14% -5.01% 1.63%

Corelation 0.28 0.32 0.32 0.26 1.00 0.06 (0.31) (0.40) (0.36) (0.39) (0.40) (0.41) (0.15) 1.00 (0.41) 0.49

Beta 7.14 7.80 7.76 6.16 113.84 9.56 (28.75) (26.27) (11.02) (9.49) (9.66) (9.70) 3.56 113.84 (28.75) 46.08

R-Squared 0.08 0.10 0.10 0.07 1.00 0.00 0.10 0.16 0.13 0.15 0.16 0.17 0.23 1.00 0.00 0.31


Annualized Return (YTD) 6.78% 7.55% 7.72% 7.11% 1.23% -22.32% -10.21% -4.52% -1.53% 0.64% 2.10% 3.02% 3.63% -3.11% 3.63% -22.32% 8.42%

Annualized Return (MoM) 28.65% 15.24% 9.86% 0.59% 1.23% -45.81% 15.40% 12.66% 10.92% 11.40% 10.77% 9.72% 8.28% 1.66% 15.40% -45.81% 19.02%

Absolute Return (YTD) 0.10% -3.78% -2.57% -1.52% -0.64% 0.32% 1.23% 2.01% 2.73% -0.23% 2.73% -3.78% 2.13%

Absolute Return (MoM) 2.16% 1.17% 0.80% 0.05% 0.10% -3.88% 1.26% 1.07% 0.89% 0.97% 0.91% 0.77% 0.70% 0.30% 1.26% -3.88% 1.60%

Sum Abs. Return (MoM) 5.06% 6.23% 7.04% 7.08% 0.10% -3.78% -2.51% -1.44% -0.55% 0.42% 1.33% 2.10% 2.80% -0.17% 2.80% -3.78% 2.15%


Risk Adjusted Return 1.06% 0.07% -0.29% -1.07% -1.02% -4.97% 0.18% 0.05% -0.08% -0.02% -0.06% -0.21% -0.28% -0.73% 0.18% -4.97% 1.63%

Coefficient of Variation 2.16 1.86 1.72 1.80 (1.49) (3.22) (6.66) (19.70) 28.31 9.63 6.50 5.15 2.31 28.31 (19.70) 13.97

Sharpe (0.42) (0.39) (0.40) (0.46) (1.06) (0.72) (0.60) (0.54) (0.49) (0.46) (0.45) (0.44) (0.60) (0.44) (1.06) 0.21

Sortino (0.99) (0.93) (0.84) (0.98) (9.83) (1.09) (0.86) (0.74) (0.66) (0.58) (0.53) (0.51) (0.49) (1.70) (0.49) (9.83) 3.05

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.07) (0.02) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.01) 0.00 (0.07) 0.02

Tracking Error 1.20% 1.15% 1.09% 1.05% 2.80% 2.70% 2.41% 2.16% 2.00% 1.86% 1.73% 1.63% 2.16% 2.80% 1.63% 0.44%


VAMI 1.05 1.06 1.07 1.07 1.00 0.96 0.97 0.98 0.99 1.00 1.01 1.02 1.03 1.00 1.03 0.96 0.02


Misc. Info

Last NAVs 515.82 509.87 513.96 514.21 500.98 481.54 487.62 492.85 497.26 502.06 506.64 510.54 514.12 499.2900 514.1200 481.5400 10.6530

Payouts 12.00 13.75

Net Assets 840.00 792.00 795.00 786.94 745.96 661.03 739.22 746.33 814.96 820.23 824.08 862.42 878.47 788.08 878.47 661.03 69.64

MoM + / (-) % in NA -17.08% -5.71% 0.38% -1.01% -5.21% -11.39% 11.83% 0.96% 9.20% 0.65% 0.47% 4.65% 1.86% 1.23% 11.83% -11.39% 6.97%

Total + / (-) YTD % in NA -34.48% -38.22% -37.99% -38.62% -5.21% -16.00% -6.06% -5.16% 3.56% 4.23% 4.72% 9.59% 11.63% 0.15% 11.63% -16.00% 8.85%




Active Return / Alpha 1.88% 1.14% 1.51% -5.36% -0.03% -0.85% -4.28% -0.44% -0.40% -1.66% -4.76% -0.10% 1.70% -1.22% 1.70% -4.76% 2.08%

Corelation 0.18 0.28 0.34 0.03 1.00 0.96 0.28 0.06 0.15 0.37 0.29 0.17 0.41 1.00 0.06 0.37

Beta 5.03 8.08 10.50 1.20 11.88 36.69 7.41 1.22 2.39 7.79 6.38 4.35 9.76 36.69 1.22 11.38

R-Squared 0.03 0.08 0.12 0.00 1.00 0.93 0.08 0.00 0.02 0.14 0.08 0.03 0.29 1.00 0.00 0.42


Annualized Return (YTD) 6.45% 8.65% 10.82% 5.43% 13.22% 8.22% -7.40% -3.84% -1.70% -2.85% -8.82% -6.51% -2.34% -1.34% 13.22% -8.82% 7.35%

Annualized Return (MoM) 42.07% 31.68% 36.07% -40.78% 13.22% 3.17% -39.13% 6.84% 7.20% -8.58% -44.91% 11.19% 31.81% -5.50% 31.81% -44.91% 25.00%

Absolute Return (YTD) 1.12% 1.39% -1.86% -1.29% -0.71% -1.43% -5.18% -4.34% -1.76% -1.56% 1.39% -5.18% 2.17%

Absolute Return (MoM) 3.03% 2.29% 2.65% -4.21% 1.12% 0.27% -3.21% 0.58% 0.59% -0.73% -3.80% 0.89% 2.69% -0.20% 2.69% -3.80% 2.09%

Sum Abs. Return (MoM) 4.85% 7.14% 9.79% 5.58% 1.12% 1.39% -1.82% -1.24% -0.65% -1.38% -5.18% -4.29% -1.60% -1.52% 1.39% -5.18% 2.16%


Risk Adjusted Return 1.92% 1.18% 1.55% -5.34% 0.00% -0.82% -4.29% -0.44% -0.39% -1.71% -4.78% -0.09% 1.71% -1.22% 1.71% -4.78% 2.10%

Coefficient of Variation 2.77 2.12 1.74 4.49 0.87 (3.78) (6.34) (13.46) (6.90) (2.67) (3.58) (11.79) (5.96) 0.87 (13.46) 4.77

Sharpe (0.36) (0.24) (0.12) (0.30) (0.68) (0.74) (0.71) (0.68) (0.81) (0.90) (0.82) (0.57) (0.74) (0.57) (0.90) 0.10

Sortino (0.57) (0.41) (0.23) (0.42) (0.50) (0.87) (0.80) (0.76) (0.87) (0.90) (0.84) (0.68) (0.78) (0.50) (0.90) 0.13

Treynor (0.00) (0.00) (0.00) (0.01) (0.00) (0.00) (0.00) (0.01) (0.01) (0.00) (0.00) (0.00) (0.00) (0.00) (0.01) 0.00

Jensen's Alpha (0.01) (0.01) (0.00) (0.01) (0.01) (0.02) (0.01) (0.01) (0.01) (0.02) (0.02) (0.01) (0.01) (0.01) (0.02) 0.00

Tracking Error 1.49% 1.50% 1.54% 2.09% 0.58% 2.25% 1.95% 1.74% 1.57% 1.95% 1.90% 2.08% 1.75% 2.25% 0.58% 0.52%


VAMI 1.05 1.07 1.10 1.05 1.01 1.01 0.98 0.99 0.99 0.99 0.95 0.96 0.98 0.98 1.01 0.95 0.02

Excess Return on RFR -0.54% -0.37% -0.19% -0.62% 0.00% -0.41% -1.71% -1.39% -1.19% -1.28% -1.78% -1.57% -1.20% -1.17% 0.00% -1.78% 0.59%

Misc. Info

Last NAVs 10.1459 10.1806 10.4504 10.0100 9.8227 9.8491 9.5332 9.5884 9.6450 9.5749 9.2107 9.2924 9.5428 9.5621 9.8491 9.2107 0.2108

Payouts 0.1974 0.2961

Net Assets 2,869 2,677 2,687 2,505.16 2,397.98 2,378.00 2,242.70 2,209.15 2,143.55 2,082.54 1,905.81 1,838.54 1,705.80 2,100.45 2,397.98 1,705.80 240.32

MoM + / (-) % in NA 1.31% -6.69% 0.37% -6.77% -4.28% -0.83% -5.69% -1.50% -2.97% -2.85% -8.49% -3.53% -7.22% -4.18% -0.83% -8.49% 2.55%

Total + / (-) YTD % in NA -26.72% -31.62% -31.37% -36.01% -4.28% -5.08% -10.48% -11.82% -14.43% -16.87% -23.92% -26.61% -31.91% -16.16% -4.28% -31.91% 9.59%

ATL

AS

INC

OM

E FU

ND

NA

FA I

NC

OM

E O

PP

OR

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FOR FY 2011-12




Active Return / Alpha 1.91% -0.07% -0.71% -8.63% -6.22% -0.53% -0.01% -0.56% -0.17% -8.92% -0.70% 0.46% 0.25% -1.87% 0.46% -8.92% 3.35%

Corelation 0.66 0.66 0.64 0.21 1.00 1.00 0.20 (0.05) 0.56 0.48 0.38 0.33 0.49 1.00 (0.05) 0.37

Beta 26.76 25.66 24.54 11.60 64.97 89.77 9.77 (1.89) 24.94 21.41 17.76 15.64 30.30 89.77 (1.89) 30.88

R-Squared 0.43 0.43 0.41 0.04 1.00 1.00 0.04 0.00 0.32 0.23 0.15 0.11 0.35 1.00 0.00 0.41


Annualized Return (YTD) 2.62% 3.68% 3.80% -4.03% -60.85% -27.15% -14.11% -9.23% -5.51% -20.10% -16.75% -12.79% -9.83% -19.59% -5.51% -60.85% 16.75%

Annualized Return (MoM) 42.60% 13.89% 5.11% -61.17% -60.85% 6.91% 13.45% 5.47% 10.04% -94.29% 3.48% 18.36% 14.73% -29.29% 18.36% -94.29% 39.94%

Absolute Return (YTD) -5.15% -4.60% -3.55% -3.10% -2.30% -10.11% -9.84% -8.53% -7.39% -6.06% -2.30% -10.11% 2.97%

Absolute Return (MoM) 3.06% 1.08% 0.42% -7.48% -5.15% 0.59% 1.10% 0.46% 0.82% -7.99% 0.29% 1.46% 1.25% -0.85% 1.46% -7.99% 3.37%

Sum Abs. Return (MoM) 2.18% 3.26% 3.68% -3.80% -5.15% -4.57% -3.47% -3.00% -2.18% -10.17% -9.87% -8.42% -7.17% -6.00% -2.18% -10.17% 3.01%


Risk Adjusted Return 1.96% -0.03% -0.67% -8.60% -6.28% -0.50% 0.02% -0.56% -0.16% -8.97% -0.68% 0.48% 0.26% -1.87% 0.48% -8.97% 3.38%

Coefficient of Variation 10.00 7.06 6.52 (9.69) (1.78) (3.00) (3.93) (6.07) (2.29) (2.57) (3.33) (4.23) (3.40) (1.78) (6.07) 1.35

Sharpe (0.34) (0.33) (0.34) (0.46) (0.84) (0.65) (0.62) (0.56) (0.71) (0.67) (0.59) (0.54) (0.65) (0.54) (0.84) 0.09

Sortino (0.51) (0.47) (0.49) (0.54) (1.22) (0.92) (0.75) (0.70) (0.63) (0.70) (0.68) (0.61) (0.57) (0.76) (0.57) (1.22) 0.20

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.01 (0.00) (0.00) (0.00) (0.00) 0.00 0.01 (0.00) 0.00

Jensen's Alpha (0.01) (0.01) (0.01) (0.02) (0.03) (0.02) (0.02) (0.01) (0.03) (0.02) (0.02) (0.02) (0.02) (0.01) (0.03) 0.00

Tracking Error 2.39% 2.27% 2.15% 3.06% 4.03% 3.45% 2.94% 2.65% 3.85% 3.60% 3.48% 3.35% 3.42% 4.03% 2.65% 0.45%


VAMI 1.02 1.03 1.03 0.96 0.95 0.95 0.96 0.97 0.98 0.90 0.90 0.91 0.93 0.94 0.98 0.90 0.03


Misc. Info

Last NAVs 10.6506 10.4517 10.4960 9.7109 9.2104 9.2643 9.3664 9.4098 9.4872 8.7295 8.7552 8.8826 8.9934 9.1221 9.4872 8.7295 0.2886

Payouts 0.3134

Net Assets 520 497 499 460.93 437.10 439.54 443.78 438.37 440.48 405.87 406.27 410.43 415.53 426.37 443.78 405.87 16.32

MoM + / (-) % in NA 2.77% -4.42% 0.40% -7.63% -5.17% 0.56% 0.96% -1.22% 0.48% -7.86% 0.10% 1.02% 1.24% -1.15% 1.24% -7.86% 3.23%

Total + / (-) YTD % in NA -10.65% -14.60% -14.26% -20.80% -5.17% -4.64% -3.72% -4.90% -4.44% -11.95% -11.86% -10.96% -9.85% -7.50% -3.72% -11.95% 3.54%




Active Return / Alpha 0.24% 0.19% 0.14% 0.17% 0.16% 0.22% 0.21% 0.30% 0.18% 0.15% -0.66% 0.10% 0.16% 0.09% 0.30% -0.66% 0.29%

Corelation 0.55 0.67 0.68 0.73 (1.00) (0.70) (0.91) (0.60) (0.44) 0.44 0.43 0.42 (0.30) 0.44 (1.00) 0.62

Beta 0.88 1.06 1.00 1.04 (0.37) (0.43) (0.94) (0.81) (0.83) 6.45 6.33 6.27 1.96 6.45 (0.94) 3.64

R-Squared 0.30 0.45 0.46 0.53 1.00 0.50 0.82 0.35 0.20 0.19 0.18 0.18 0.43 1.00 0.18 0.32








Risk Adjusted Return -0.17% -0.18% -0.22% -0.21% -0.23% -0.16% -0.16% -0.04% -0.09% -0.13% -0.95% -0.18% -0.13% -0.23% -0.04% -0.95% 0.27%


Sharpe (4.39) (3.90) (4.00) (3.87) (10.73) (11.47) (4.46) (3.82) (3.20) (0.75) (0.78) (0.79) (4.50) (0.75) (11.47) 4.33

Sortino (0.31) (0.30) (0.29) (0.29) (0.25) (0.21) (0.20) (0.16) (0.15) (0.15) (0.30) (0.29) (0.27) (0.22) (0.15) (0.30) 0.06

Treynor (0.00) (0.00) (0.00) (0.00) 0.01 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) 0.00 0.01 (0.00) 0.00

Jensen's Alpha 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) 0.02 0.02 0.02 0.00 0.02 (0.00) 0.01

Tracking Error 0.05% 0.05% 0.04% 0.04% 0.04% 0.03% 0.06% 0.05% 0.05% 0.33% 0.31% 0.29% 0.14% 0.33% 0.03% 0.14%


VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.06 1.06 1.07 1.04 1.07 1.01 0.02


Misc. Info

Last NAVs 10.2986 10.1226 10.2109 10.3042 10.1181 10.1224 10.1250 10.1408 10.1391 10.1354 10.0455 10.0354 10.0389 10.1001 10.1408 10.0354 0.0458

Payouts 0.2712 0.2762 0.0892 0.0913 0.0832 0.0913 0.0903 0.0923 0.0903 0.0822

Net Assets 564 565 566 545.24 573.25 579.35 656.82 653.43 687.63 604.27 936.22 1,159.61 1,282.96 792.62 1,282.96 573.25 267.78

MoM + / (-) % in NA -7.54% 0.18% 0.18% -3.67% 5.14% 1.06% 13.37% -0.52% 5.24% -12.12% 54.93% 23.86% 10.64% 9.97% 54.93% -12.12% 19.15%

Total + / (-) YTD % in NA -3.75% -3.58% -3.41% -6.96% 5.14% 6.26% 20.47% 19.84% 26.12% 10.83% 71.71% 112.68% 135.30% 45.37% 135.30% 5.14% 49.11%

NA

FA S

AV

ING

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FOR FY 2011-12




Active Return / Alpha 0.81% -0.17% -0.14% 0.09% -0.26% 0.03% -0.02% -0.20% -0.15% -0.25% -0.01% -0.23% -0.12% -0.13% 0.03% -0.26% 0.11%

Corelation 0.16 0.13 0.12 0.15 (1.00) (0.71) 0.36 0.52 0.66 0.52 0.58 0.58 0.19 0.66 (1.00) 0.65

Beta 3.05 2.24 2.06 2.44 (5.30) (2.58) 0.88 1.01 1.36 1.03 1.22 1.19 (0.15) 1.36 (5.30) 2.46

R-Squared 0.03 0.02 0.01 0.02 1.00 0.50 0.13 0.27 0.43 0.27 0.34 0.34 0.41 1.00 0.13 0.26








Risk Adjusted Return 0.80% -0.17% -0.15% 0.08% -0.26% 0.04% -0.03% -0.21% -0.14% -0.25% 0.00% -0.22% -0.12% -0.13% 0.04% -0.26% 0.11%


Sharpe (0.11) (0.14) (0.15) (0.14) (0.59) (0.61) (0.76) (0.84) (0.93) (0.86) (0.94) (0.99) (0.82) (0.59) (0.99) 0.15

Sortino (0.12) (0.12) (0.13) (0.11) (0.30) (0.18) (0.11) (0.14) (0.15) (0.18) (0.16) (0.18) (0.18) (0.18) (0.11) (0.30) 0.05

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.62% 0.59% 0.56% 0.53% 0.21% 0.16% 0.14% 0.12% 0.12% 0.12% 0.12% 0.11% 0.14% 0.21% 0.11% 0.03%


VAMI 1.09 1.10 1.11 1.13 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.07 1.08 1.05 1.08 1.01 0.02


Misc. Info

Last NAVs 104.5766 102.1439 103.1102 104.3446 102.1988 103.3515 101.0656 101.8918 102.7442 103.5014 101.1061 101.8689 101.0784 102.0896 103.5014 101.0656 0.9455

Payouts 3.5049 3.0199 3.3774 3.4026 1.6677 2.8159 3.4026 1.6677 0.9945

Net Assets 4,058 4,210 4,477 5,019.70 5,279.57 4,902.79 5,246.31 5,156.92 5,492.07 5,800.84 6,042.87 6,158.66 6,445.00 5,613.89 6,445.00 4,902.79 522.34

MoM + / (-) % in NA -8.48% 3.75% 6.34% 12.12% 5.18% -7.14% 7.01% -1.70% 6.50% 5.62% 4.17% 1.92% 4.65% 2.82% 7.01% -7.14% 4.61%

Total + / (-) YTD % in NA -32.03% -29.48% -25.01% -15.92% 5.18% -2.33% 4.51% 2.73% 9.41% 15.56% 20.38% 22.69% 28.39% 11.84% 28.39% -2.33% 10.41%




Active Return / Alpha 2.15% -0.55% -0.17% 0.59% -0.24% 0.06% -0.31% -0.56% -0.27% 1.04% 0.56% -0.20% 0.31% 0.04% 1.04% -0.56% 0.51%

Corelation 0.36 0.19 0.15 0.20 (1.00) (0.23) 0.34 0.35 (0.43) (0.53) (0.35) (0.38) (0.28) 0.35 (1.00) 0.45

Beta 9.65 4.68 3.44 4.30 (3.66) (1.42) 3.26 1.10 (2.91) (3.51) (2.16) (2.29) (1.45) 3.26 (3.66) 2.42

R-Squared 0.13 0.04 0.02 0.04 1.00 0.05 0.12 0.13 0.19 0.28 0.12 0.14 0.25 1.00 0.05 0.31








Risk Adjusted Return 2.19% -0.51% -0.13% 0.62% -0.21% 0.09% -0.29% -0.48% -0.26% 1.05% 0.58% -0.20% 0.31% 0.07% 1.05% -0.48% 0.50%


Sharpe 0.20 0.14 0.12 0.17 (0.35) (0.72) (0.86) (0.99) (0.03) 0.13 0.07 0.14 (0.32) 0.14 (0.99) 0.47

Sortino 0.68 0.41 0.27 0.38 (0.24) (0.10) (0.20) (0.33) (0.34) (0.03) 0.12 0.06 0.12 (0.10) 0.12 (0.34) 0.18

Treynor 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.00) 0.00

Tracking Error 1.07% 1.04% 0.99% 0.96% 0.21% 0.20% 0.25% 0.22% 0.57% 0.57% 0.53% 0.51% 0.38% 0.57% 0.20% 0.17%

Information Ratio 0.20 0.13 0.11 0.16 (0.43) (0.84) (1.04) (1.21) (0.08) 0.07 0.02 0.08 (0.43) 0.08 (1.21) 0.53

VAMI 1.12 1.13 1.14 1.16 1.01 1.02 1.03 1.03 1.04 1.06 1.08 1.09 1.10 1.05 1.10 1.01 0.03

Excess Return on RFR 0.22% 0.15% 0.12% 0.16% -0.21% -0.06% -0.14% -0.22% -0.23% -0.02% 0.07% 0.04% 0.07% -0.08% 0.07% -0.23% 0.13%

Misc. Info

Last NAVs 101.4652 99.0674 100.0220 101.7642 99.4110 100.5769 101.3823 99.9356 100.6528 102.7026 101.7994 102.5900 103.9235 101.4416 103.9235 99.4110 1.4561

Payouts 3.0000 3.2500 2.0000 2.5000 2.2500 2.5000 2.0000 0.3536

Net Assets 1,473 1,479 1,495 1,512.90 1,529.12 1,543.92 1,554.53 1,791.24 1,609.36 1,623.36 1,640.58 1,679.50 1,725.04 1,632.96 1,791.24 1,529.12 87.51

MoM + / (-) % in NA -0.27% 0.41% 1.08% 1.20% 1.07% 0.97% 0.69% 15.23% -10.15% 0.87% 1.06% 2.37% 2.71% 1.47% 15.23% -10.15% 6.40%

Total + / (-) YTD % in NA -7.94% -7.56% -6.56% -5.44% 1.07% 2.05% 2.75% 18.40% 6.38% 7.30% 8.44% 11.01% 14.02% 7.94% 18.40% 1.07% 5.78%

MC

B D

YN

AM

IC C

ASH

FU

ND

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L IN

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FUN

DM

CB

DY

NA

MIC

CA

SH F

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D

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L IN

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ME

FUN

D




FOR FY 2011-12




Active Return / Alpha -0.18% -0.24% -0.18% -0.22% -0.28% 0.10% 0.03% 0.23% -0.27% -0.86% 0.00% 0.06% -0.22% -0.14% 0.23% -0.86% 0.32%

Corelation (0.14) (0.11) (0.06) (0.03) (1.00) (0.98) (0.74) 0.22 0.51 0.40 0.33 0.35 (0.11) 0.51 (1.00) 0.67

Beta (0.30) (0.23) (0.12) (0.06) (4.83) (5.86) (1.78) 0.60 2.63 1.85 1.51 1.59 (0.53) 2.63 (5.86) 3.25

R-Squared 0.02 0.01 0.00 0.00 1.00 0.97 0.55 0.05 0.26 0.16 0.11 0.13 0.40 1.00 0.05 0.39








Risk Adjusted Return -0.14% -0.20% -0.14% -0.20% -0.26% 0.13% 0.06% 0.23% -0.26% -0.85% 0.00% 0.07% -0.21% -0.12% 0.23% -0.85% 0.32%


Sharpe (1.81) (1.92) (1.93) (2.02) (0.26) (0.13) 0.22 (0.09) (0.38) (0.35) (0.30) (0.35) (0.20) 0.22 (0.38) 0.20

Sortino (0.22) (0.22) (0.21) (0.21) (0.30) (0.10) (0.05) 0.09 (0.04) (0.34) (0.32) (0.27) (0.26) (0.18) 0.09 (0.34) 0.15

Treynor 0.01 0.01 0.02 0.03 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Tracking Error 0.12% 0.11% 0.11% 0.10% 0.27% 0.20% 0.22% 0.23% 0.39% 0.36% 0.35% 0.32% 0.29% 0.39% 0.20% 0.07%

Information Ratio (1.77) (1.89) (1.96) (2.06) (0.34) (0.25) 0.08 (0.18) (0.45) (0.42) (0.36) (0.42) (0.29) 0.08 (0.45) 0.18

VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.05 1.05 1.05 1.06 1.08 1.08 1.05 1.08 1.01 0.02

Excess Return on RFR -0.19% -0.19% -0.19% -0.19% -0.26% -0.06% -0.02% 0.04% -0.02% -0.16% -0.14% -0.11% -0.12% -0.09% 0.04% -0.26% 0.09%

Misc. Info

Last NAVs 101.0994 102.0168 102.9911 103.9445 101.4311 102.6629 101.3017 102.5676 103.3053 100.6291 101.6088 102.6759 101.1123 101.9216 103.3053 100.6291 0.9013

Payouts 2.3267 3.3867 2.5341 2.8172 2.3646 2.5720 2.8172 2.3646 0.2287

Net Assets 1,260 1,482 1,351 830.10 893.86 981.79 998.31 1,330.39 1,428.47 1,318.46 992.97 1,303.46 1,144.49 1,154.69 1,428.47 893.86 194.75

MoM + / (-) % in NA -16.45% 17.62% -8.84% -38.56% 7.68% 9.84% 1.68% 33.26% 7.37% -7.70% -24.69% 31.27% -12.20% 3.63% 33.26% -24.69% 18.95%

Total + / (-) YTD % in NA -48.28% -39.16% -44.54% -65.92% 7.68% 18.27% 20.26% 60.27% 72.08% 58.83% 19.62% 57.02% 37.87% 39.10% 72.08% 7.68% 23.46%




Active Return / Alpha -0.13% -0.09% -0.25% -0.22% -0.18% -0.10% -0.13% 0.39% -0.25% -0.73% 0.26% -0.41% -0.15% -0.14% 0.39% -0.73% 0.33%

Corelation 0.19 0.25 0.25 0.26 (1.00) (1.00) (0.99) (0.05) 0.36 0.16 0.26 0.27 (0.25) 0.36 (1.00) 0.63

Beta 1.02 1.37 1.35 1.36 (0.77) (1.02) (2.82) (0.14) 1.64 0.75 1.23 1.24 0.01 1.64 (2.82) 1.51

R-Squared 0.04 0.06 0.06 0.07 1.00 1.00 0.98 0.00 0.13 0.03 0.07 0.07 0.41 1.00 0.00 0.48








Risk Adjusted Return -0.10% -0.06% -0.22% -0.20% -0.16% -0.07% -0.09% 0.39% -0.24% -0.72% 0.27% -0.40% -0.15% -0.13% 0.39% -0.72% 0.33%


Sharpe (0.98) (0.93) (0.98) (1.02) (3.30) (4.31) 0.07 (0.15) (0.40) (0.24) (0.35) (0.38) (1.13) 0.07 (4.31) 1.68

Sortino (0.30) (0.26) (0.26) (0.26) (0.17) (0.12) (0.11) 0.02 (0.04) (0.19) (0.13) (0.18) (0.18) (0.12) 0.02 (0.19) 0.07

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Tracking Error 0.23% 0.22% 0.21% 0.20% 0.06% 0.04% 0.26% 0.25% 0.36% 0.37% 0.35% 0.33% 0.25% 0.37% 0.04% 0.13%


VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.07 1.08 1.05 1.08 1.01 0.03


Misc. Info

Last NAVs 103.83 101.16 102.05 102.99 101.56 102.59 103.61 102.57 103.33 103.60 104.89 102.50 103.36 103.1122 104.8900 101.5600 0.9425

Payouts 3.75 2.40 2.50 3.00 2.7500 3.0000 2.5000 0.3536

Net Assets 4,676 5,019 5,176 4,555.72 5,067.23 4,887.51 4,181.33 4,565.05 4,479.72 3,633.17 3,621.79 3,043.18 2,572.00 4,005.67 5,067.23 2,572.00 847.12

MoM + / (-) % in NA -33.95% 7.34% 3.13% -11.98% 11.23% -3.55% -14.45% 9.18% -1.87% -18.90% -0.31% -15.98% -15.48% -6.15% 11.23% -18.90% 11.23%

Total + / (-) YTD % in NA -33.86% -29.01% -26.79% -35.56% 11.23% 7.28% -8.22% 0.20% -1.67% -20.25% -20.50% -33.20% -43.54% -12.07% 11.23% -43.54% 18.59%

IGI I

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FOR FY 2011-12




Active Return / Alpha -0.16% -0.20% -0.20% -0.17% -0.21% -0.14% -0.19% 0.02% -0.27% -0.32% -0.19% -0.34% -0.26% -0.21% 0.02% -0.34% 0.11%

Corelation 0.72 0.74 0.75 0.78 (1.00) (0.88) (0.96) 0.43 0.60 0.63 0.68 0.70 0.02 0.70 (1.00) 0.81

Beta 2.19 2.15 2.16 2.20 (1.22) (1.46) (0.80) 0.65 1.13 1.12 1.36 1.41 0.27 1.41 (1.46) 1.22

R-Squared 0.52 0.55 0.57 0.61 1.00 0.77 0.93 0.18 0.36 0.39 0.46 0.49 0.57 1.00 0.18 0.29










Sharpe (2.28) (2.28) (2.32) (2.26) (4.19) (5.60) (1.95) (1.12) (1.12) (1.20) (1.24) (1.33) (2.22) (1.12) (5.60) 1.72

Sortino (0.28) (0.27) (0.26) (0.25) (0.21) (0.16) (0.16) (0.13) (0.17) (0.20) (0.20) (0.23) (0.24) (0.19) (0.13) (0.24) 0.04

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.08% 0.08% 0.08% 0.08% 0.05% 0.04% 0.10% 0.11% 0.12% 0.11% 0.11% 0.11% 0.09% 0.12% 0.04% 0.03%


VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.05 1.06 1.07 1.08 1.05 1.08 1.01 0.02


Misc. Info

Last NAVs 102.87 101.17 102.09 103.07 101.00 101.99 102.95 101.33 102.07 102.77 100.90 101.57 102.33 101.8795 102.9500 100.9018 0.7347

Payouts 2.65 3.00 2.70 2.70 2.7000 2.7000 2.7000 -

Net Assets 1,570 1,470 1,400 1,251.46 1,313.94 1,363.18 1,207.07 1,405.08 1,460.38 1,460.66 1,483.54 1,484.14 1,119.65 1,366.40 1,484.14 1,119.65 130.30

MoM + / (-) % in NA -13.26% -6.37% -4.76% -10.61% 4.99% 3.75% -11.45% 16.40% 3.94% 0.02% 1.57% 0.04% -24.56% -1.23% 16.40% -24.56% 11.50%

Total + / (-) YTD % in NA -7.65% -13.53% -17.65% -26.38% 4.99% 8.93% -3.55% 12.28% 16.69% 16.72% 18.54% 18.59% -10.53% 9.18% 18.59% -10.53% 10.41%



Downside Deviation 0.89% 0.89% 0.87% 0.84% 0.62% 0.72% 0.62% 0.67% 0.70% 0.72% 0.69% 0.65% 0.68% 0.72% 0.62% 0.04%

Active Return / Alpha -0.43% -0.28% -0.44% -1.59% 4.06% -0.25% -0.23% 0.68% -0.17% -0.19% -0.15% -0.57% 3.93% 0.78% 4.06% -0.57% 1.85%

Corelation 0.39 0.32 0.28 0.15 1.00 0.94 0.32 0.44 0.49 0.52 0.55 0.23 0.56 1.00 0.23 0.28

Beta 23.97 18.44 15.92 8.29 101.90 145.29 10.00 10.49 11.15 11.25 12.21 6.39 38.58 145.29 6.39 53.76

R-Squared 0.15 0.10 0.08 0.02 1.00 0.89 0.10 0.19 0.24 0.27 0.31 0.05 0.38 1.00 0.05 0.36



Annualized Return (MoM) 8.39% 10.77% 8.16% -5.47% 61.38% 10.31% 10.90% 20.21% 10.16% 9.69% 10.07% 5.68% 58.27% 15.29% 61.38% 5.68% 21.88%


Absolute Return (MoM) 0.69% 0.84% 0.67% -0.46% 5.20% 0.87% 0.89% 1.71% 0.83% 0.82% 0.85% 0.45% 4.94% 1.28% 5.20% 0.45% 1.86%



Risk Adjusted Return -0.42% -0.26% -0.43% -1.58% 4.07% -0.21% -0.19% 0.69% -0.15% -0.17% -0.12% -0.53% 3.95% 0.80% 4.07% -0.53% 1.84%


Sharpe 0.13 0.11 0.08 0.01 0.63 0.49 0.53 0.45 0.39 0.35 0.27 0.44 0.44 0.63 0.27 0.11

Sortino 0.30 0.24 0.18 0.01 3.13 1.70 1.74 1.25 0.97 0.78 0.61 1.25 1.43 3.13 0.61 0.79

Treynor 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Jensen's Alpha 0.00 0.00 0.00 (0.00) (0.01) (0.03) 0.01 0.01 0.00 0.00 0.00 0.01 (0.00) 0.01 (0.03) 0.01

Tracking Error 2.09% 1.98% 1.89% 1.87% 3.04% 2.48% 2.04% 1.85% 1.71% 1.59% 1.52% 1.85% 2.01% 3.04% 1.52% 0.51%


VAMI 1.13 1.14 1.14 1.14 1.05 1.06 1.07 1.09 1.10 1.11 1.12 1.12 1.18 1.10 1.18 1.05 0.04

Excess Return on RFR 0.27% 0.22% 0.16% 0.01% 4.07% 1.93% 1.22% 1.09% 0.84% 0.67% 0.56% 0.43% 0.82% 1.29% 4.07% 0.43% 1.13%

Misc. Info

Last NAVs 101.9138 102.7741 103.4613 102.9837 108.3375 109.2835 110.2600 108.8470 109.7532 110.6537 111.5979 107.6004 108.4114 109.4161 111.5979 107.6004 1.2713

Payouts 3.3000 4.5000 4.5000 4.1000 4.5000 3.3000 0.6928

Net Assets 102.97 94.56 94.90 91.95 93.90 92.03 86.69 89.14 83.67 82.27 82.86 83.41 62.28 84.03 93.90 62.28 9.17

MoM + / (-) % in NA -6.66% -8.17% 0.36% -3.11% 2.12% -2.00% -5.80% 2.83% -6.14% -1.68% 0.72% 0.65% -25.33% -4.24% 2.83% -25.33% 8.66%

Total + / (-) YTD % in NA -63.03% -66.05% -65.92% -66.98% 2.12% 0.08% -5.72% -3.05% -9.00% -10.53% -9.88% -9.29% -32.27% -8.62% 2.12% -32.27% 9.97%

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FOR FY 2011-12




Active Return / Alpha -0.17% -0.14% -0.18% -0.18% -0.07% -0.06% -0.11% 0.63% -0.19% -0.43% 0.07% -0.34% -0.17% -0.07% 0.63% -0.43% 0.30%

Corelation 0.82 0.83 0.84 0.85 1.00 0.72 (0.92) (0.15) 0.19 0.16 0.27 0.30 0.20 1.00 (0.92) 0.57

Beta 0.82 0.94 0.96 0.97 0.35 1.00 (3.77) (0.54) 0.84 0.66 1.18 1.30 0.13 1.30 (3.77) 1.68

R-Squared 0.67 0.69 0.70 0.72 1.00 0.52 0.85 0.02 0.04 0.03 0.07 0.09 0.33 1.00 0.02 0.41










Sharpe (3.34) (2.88) (2.93) (2.95) (1.97) (1.24) 0.39 0.19 (0.06) (0.01) (0.13) (0.18) (0.38) 0.39 (1.97) 0.80

Sortino (0.19) (0.18) (0.18) (0.18) (0.04) (0.03) (0.05) 0.13 0.07 (0.02) (0.01) (0.06) (0.07) (0.01) 0.13 (0.07) 0.07

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Tracking Error 0.03% 0.03% 0.03% 0.03% 0.01% 0.03% 0.35% 0.33% 0.35% 0.32% 0.32% 0.30% 0.25% 0.35% 0.01% 0.15%

Information Ratio (6.53) (5.85) (6.13) (6.40) (8.41) (2.58) 0.27 0.12 (0.11) (0.07) (0.19) (0.25) (1.40) 0.27 (8.41) 2.97

VAMI 1.08 1.10 1.11 1.12 1.01 1.02 1.03 1.05 1.06 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR -0.17% -0.17% -0.16% -0.16% -0.04% -0.04% -0.05% 0.12% 0.06% -0.02% 0.00% -0.04% -0.06% -0.01% 0.12% -0.06% 0.06%

Misc. Info

Last NAVs 10.0090 10.1092 10.2057 10.0195 10.1280 10.2351 10.0217 10.1867 10.2687 10.0184 10.1248 10.1908 10.0222 10.1329 10.2687 10.0184 0.0955

Payouts 0.2906 0.2848 0.3158 0.3089 0.2530 0.2926 0.3158 0.2530 0.0344

Net Assets 5,220 5,262 4,826 4,878.54 5,285.49 5,494.86 4,561.04 5,794.18 8,010.81 7,698.65 5,201.29 5,239.69 4,993.06 5,808.79 8,010.81 4,561.04 1,209.77

MoM + / (-) % in NA -16.77% 0.80% -8.29% 1.09% 8.34% 3.96% -16.99% 27.04% 38.26% -3.90% -32.44% 0.74% -4.71% 0.26% 38.26% -32.44% 21.25%

Total + / (-) YTD % in NA -37.56% -37.06% -42.27% -41.64% 8.34% 12.63% -6.51% 18.77% 64.21% 57.81% 6.62% 7.40% 2.35% 19.07% 64.21% -6.51% 24.80%




Active Return / Alpha 0.55% 0.17% -0.35% -0.15% -0.06% -0.09% -0.13% -0.19% -0.17% -0.54% -0.18% -0.35% -0.29% -0.22% -0.06% -0.54% 0.15%

Corelation 0.00 0.07 (0.03) (0.04) 1.00 (0.37) (0.60) (0.58) (0.52) (0.46) (0.50) (0.51) (0.32) 1.00 (0.60) 0.54

Beta 0.02 0.27 (0.13) (0.16) 0.15 (0.13) (0.12) (0.18) (1.46) (1.32) (1.52) (1.58) (0.77) 0.15 (1.58) 0.76

R-Squared 0.00 0.00 0.00 0.00 1.00 0.14 0.36 0.33 0.27 0.21 0.25 0.26 0.35 1.00 0.14 0.27








Risk Adjusted Return 0.54% 0.16% -0.31% -0.14% -0.20% -0.15% -0.18% -0.11% -0.09% -0.43% -0.07% -0.25% -0.20% -0.19% -0.07% -0.43% 0.11%


Sharpe (0.13) (0.08) (0.15) (0.17) (22.47) (12.49) (12.01) (8.56) (1.31) (1.30) (1.38) (1.47) (7.63) (1.30) (22.47) 7.76

Sortino (0.10) (0.06) (0.10) (0.11) (0.22) (0.19) (0.19) (0.17) (0.16) (0.22) (0.20) (0.22) (0.22) (0.20) (0.16) (0.22) 0.02

Treynor (0.03) (0.00) 0.00 0.00 (0.01) 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.01 (0.01) 0.01

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.41% 0.39% 0.39% 0.37% 0.02% 0.03% 0.06% 0.05% 0.17% 0.16% 0.16% 0.15% 0.10% 0.17% 0.02% 0.06%

Information Ratio 0.06 0.10 0.01 (0.03) (3.92) (2.68) (2.04) (2.33) (1.12) (1.21) (1.35) (1.48) (2.02) (1.12) (3.92) 0.95

VAMI 1.10 1.11 1.12 1.13 1.01 1.02 1.03 1.04 1.05 1.05 1.06 1.07 1.08 1.04 1.08 1.01 0.02


Misc. Info

Last NAVs 106.86 108.21 109.06 110.13 102.57 103.53 104.47 105.42 106.36 106.95 107.91 108.69 109.54 106.1600 109.5400 102.5700 2.3654

Payouts 8.50

Net Assets 187.00 193.00 170.26 171.54 164.31 164.14 228.90 213.46 205.51 206.58 207.16 206.13 122.48 190.97 228.90 122.48 33.57

MoM + / (-) % in NA -3.61% 3.21% -11.78% 0.75% -4.21% -0.10% 39.46% -6.75% -3.73% 0.52% 0.28% -0.49% -40.58% -3.67% 39.46% -40.58% 20.17%

Total + / (-) YTD % in NA -38.05% -36.07% -43.60% -43.17% -4.21% -4.31% 33.44% 24.44% 19.80% 20.43% 20.76% 20.17% -28.60% 11.32% 33.44% -28.60% 19.57%

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FOR FY 2011-12




Active Return / Alpha -0.86% -0.44% -0.04% 0.46% 0.20% 0.21% 0.12% 0.14% -0.01% -0.10% 0.04% -0.13% -0.14% 0.04% 0.21% -0.14% 0.14%

Corelation 0.50 0.52 0.52 0.34 1.00 0.85 0.98 0.89 0.81 0.82 0.76 0.68 0.85 1.00 0.68 0.11

Beta 0.04 0.05 0.05 0.03 0.53 0.52 0.66 0.81 0.91 0.95 0.98 0.87 0.78 0.98 0.52 0.19

R-Squared 0.25 0.27 0.27 0.12 1.00 0.72 0.96 0.80 0.66 0.67 0.58 0.46 0.73 1.00 0.46 0.18










Sharpe (2.66) (2.66) (2.81) (2.57) (0.93) (1.25) 0.00 (0.18) (0.33) (0.38) (0.48) (0.54) (0.51) 0.00 (1.25) 0.41

Sortino (0.20) (0.19) (0.20) (0.19) (0.23) (0.11) (0.10) 0.00 (0.04) (0.08) (0.09) (0.12) (0.12) (0.10) 0.00 (0.23) 0.06

Treynor (0.04) (0.04) (0.04) (0.05) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Tracking Error 0.65% 0.62% 0.59% 0.59% 0.01% 0.05% 0.04% 0.09% 0.12% 0.12% 0.13% 0.14% 0.09% 0.14% 0.01% 0.05%


VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 100.2461 100.2596 100.1543 101.1605 100.2225 100.3484 100.4016 100.7206 100.5852 100.3863 100.3404 100.3388 100.3374 100.4090 100.7206 100.2225 0.1508

Payouts 2.8893 0.9481 0.9632 0.9979 0.8598 0.9563 0.9471 1.0151 0.9414 0.9403 0.9115 0.7405 0.8401 0.9058 1.0151 0.7405 0.0810

Net Assets 1,017 1,017 1,016 1,006.20 1,000.60 1,010.68 1,017.64 1,176.13 1,257.35 1,273.55 1,315.81 1,243.79 1,354.00 1,183.28 1,354.00 1,000.60 139.04

MoM + / (-) % in NA 4.41% 0.00% -0.10% -0.96% -0.56% 1.01% 0.69% 15.57% 6.91% 1.29% 3.32% -5.47% 8.86% 3.35% 15.57% -5.47% 6.15%

Total + / (-) YTD % in NA 125.50% 125.50% 125.28% 123.10% -0.56% 0.45% 1.14% 16.89% 24.96% 26.57% 30.77% 23.61% 34.57% 17.60% 34.57% -0.56% 13.82%




Active Return / Alpha 0.00% -0.05% -0.06% -0.09% -0.03% 0.09% 0.06% 0.45% -0.06% -0.31% 0.23% -0.25% -1.28% -0.12% 0.45% -1.28% 0.49%

Corelation 0.87 0.87 0.86 0.82 (1.00) (0.63) (0.95) 0.10 0.48 0.34 0.46 0.46 (0.09) 0.48 (1.00) 0.66

Beta 1.46 1.38 1.33 1.19 (2.47) (1.18) (3.38) 0.29 1.86 1.26 1.85 3.67 0.24 3.67 (3.38) 2.41

R-Squared 0.76 0.76 0.75 0.67 1.00 0.40 0.91 0.01 0.23 0.12 0.21 0.21 0.39 1.00 0.01 0.37



Annualized Return (MoM) 12.01% 11.93% 11.26% 11.41% 11.28% 12.45% 12.34% 15.92% 9.69% 6.33% 12.81% 7.54% -5.01% 9.10% 15.92% -5.01% 6.08%


Absolute Return (MoM) 0.97% 0.93% 0.91% 0.89% 0.96% 1.05% 1.01% 1.35% 0.79% 0.54% 1.08% 0.60% -0.42% 0.77% 1.35% -0.42% 0.51%





Sharpe (3.25) (3.28) (3.41) (3.63) (1.44) (1.85) 0.07 (0.13) (0.36) (0.27) (0.40) (0.49) (0.61) 0.07 (1.85) 0.67

Sortino (0.22) (0.22) (0.22) (0.22) (0.18) (0.10) (0.09) 0.01 (0.03) (0.12) (0.09) (0.14) (0.36) (0.12) 0.01 (0.36) 0.10

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.00) 0.00

Tracking Error 0.04% 0.03% 0.03% 0.03% 0.08% 0.06% 0.21% 0.20% 0.25% 0.24% 0.25% 0.49% 0.22% 0.49% 0.06% 0.13%

Information Ratio (1.45) (1.53) (1.63) (1.71) 0.36 0.65 0.68 0.50 0.13 0.26 0.09 (0.25) 0.30 0.68 (0.25) 0.31

VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.07 1.05 1.08 1.01 0.02


Misc. Info

Last NAVs 10.8185 10.9192 11.0186 11.1169 10.1933 10.3008 10.4050 10.5453 10.6291 10.6861 10.8020 10.8665 10.8204 10.5832 10.8665 10.1933 0.2403

Payouts 1.0201

Net Assets 2,900 3,100 3,300 3,055.50 2,676.28 2,662.72 2,528.63 2,769.46 2,785.57 2,801.77 2,830.91 2,717.10 2,526.02 2,699.83 2,830.91 2,526.02 112.65

MoM + / (-) % in NA -6.45% 6.90% 6.45% -7.41% -12.41% -0.51% -5.04% 9.52% 0.58% 0.58% 1.04% -4.02% -7.03% -2.09% 9.52% -12.41% 6.17%

Total + / (-) YTD % in NA -21.62% -16.22% -10.81% -17.42% -12.41% -12.85% -17.24% -9.36% -8.83% -8.30% -7.35% -11.08% -17.33% -11.64% -7.35% -17.33% 3.69%

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FOR FY 2011-12




Active Return / Alpha 0.28% -0.10% -0.29% -0.11% -0.14% 0.12% 0.04% 0.28% -0.08% -0.50% 0.27% -0.12% -0.06% -0.02% 0.28% -0.50% 0.24%

Corelation 0.28 0.30 0.26 0.27 (1.00) (0.94) (0.85) 0.12 0.46 0.28 0.33 0.35 (0.16) 0.46 (1.00) 0.65

Beta 2.21 2.21 1.95 1.98 (3.15) (3.49) (1.45) 0.23 1.65 0.97 1.16 1.21 (0.36) 1.65 (3.49) 2.06

R-Squared 0.08 0.09 0.07 0.08 1.00 0.88 0.72 0.01 0.22 0.08 0.11 0.12 0.39 1.00 0.01 0.40








Risk Adjusted Return 0.32% -0.06% -0.25% -0.08% -0.11% 0.15% 0.07% 0.28% -0.07% -0.49% 0.29% -0.10% -0.05% 0.00% 0.29% -0.49% 0.24%


Sharpe (0.34) (0.34) (0.39) (0.40) 0.12 0.31 0.77 0.40 (0.10) 0.06 0.01 (0.02) 0.19 0.77 (0.10) 0.29

Sortino (0.24) (0.20) (0.21) (0.19) (0.11) 0.03 0.06 0.19 0.11 (0.05) 0.03 0.00 (0.01) 0.03 0.19 (0.11) 0.09

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00 0.00 (0.00) 0.00 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00

Tracking Error 0.36% 0.34% 0.33% 0.31% 0.19% 0.13% 0.18% 0.17% 0.27% 0.27% 0.25% 0.24% 0.21% 0.27% 0.13% 0.05%

Information Ratio (0.42) (0.43) (0.49) (0.50) (0.04) 0.06 0.44 0.27 (0.17) (0.00) (0.06) (0.09) 0.05 0.44 (0.17) 0.20

VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.05 1.06 1.06 1.08 1.09 1.10 1.05 1.10 1.01 0.03

Excess Return on RFR -0.13% -0.12% -0.13% -0.13% -0.11% 0.02% 0.04% 0.10% 0.06% -0.03% 0.02% 0.00% 0.00% 0.01% 0.10% -0.11% 0.06%

Misc. Info

Last NAVs 10.8817 10.9952 11.0879 11.2029 10.2475 10.3744 10.4941 10.6309 10.7276 10.7811 10.9168 11.0123 11.1151 10.7000 11.1151 10.2475 0.2920

Payouts 1.0581

Net Assets 2,020 2,050 2,100 2,013.73 1,914.75 1,947.39 1,981.84 2,057.27 2,066.29 2,102.46 2,159.45 2,224.94 2,224.04 2,075.38 2,224.94 1,914.75 113.80

MoM + / (-) % in NA 1.51% 1.49% 2.44% -4.11% -4.91% 1.70% 1.77% 3.81% 0.44% 1.75% 2.71% 3.03% -0.04% 1.11% 3.81% -4.91% 2.57%

Total + / (-) YTD % in NA -12.17% -10.87% -8.70% -12.45% -4.91% -3.29% -1.58% 2.16% 2.61% 4.41% 7.24% 10.49% 10.44% 3.06% 10.49% -4.91% 5.65%




Active Return / Alpha -0.15% -0.13% -0.17% -0.16% -0.19% 0.03% 0.02% 0.64% -0.16% -0.75% 0.43% -0.41% -0.20% -0.07% 0.64% -0.75% 0.42%

Corelation 0.99 0.99 0.99 0.99 (1.00) (1.00) (1.00) (0.18) 0.28 0.10 0.21 0.24 (0.29) 0.28 (1.00) 0.60

Beta 0.71 0.73 0.74 0.75 (2.45) (3.22) (4.19) (0.69) 1.58 0.55 1.22 1.39 (0.73) 1.58 (4.19) 2.28

R-Squared 0.98 0.97 0.97 0.97 1.00 1.00 1.00 0.03 0.08 0.01 0.04 0.06 0.40 1.00 0.01 0.49








Risk Adjusted Return -0.13% -0.12% -0.15% -0.15% -0.18% 0.03% 0.02% 0.62% -0.16% -0.76% 0.43% -0.41% -0.21% -0.07% 0.62% -0.76% 0.41%


Sharpe (1.09) (1.07) (1.08) (1.09) (0.60) (0.42) 0.41 0.21 (0.15) 0.00 (0.11) (0.16) (0.10) 0.41 (0.60) 0.32

Sortino (0.28) (0.26) (0.25) (0.24) (0.19) (0.11) (0.08) 0.26 0.12 (0.14) 0.00 (0.11) (0.13) (0.04) 0.26 (0.19) 0.15

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Tracking Error 0.06% 0.06% 0.06% 0.06% 0.15% 0.12% 0.36% 0.33% 0.45% 0.45% 0.44% 0.42% 0.34% 0.45% 0.12% 0.13%

Information Ratio (2.74) (2.78) (2.92) (3.05) (0.54) (0.40) 0.35 0.20 (0.15) 0.01 (0.11) (0.16) (0.10) 0.35 (0.54) 0.29

VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.05 1.06 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR -0.24% -0.23% -0.22% -0.22% -0.18% -0.07% -0.04% 0.12% 0.07% -0.07% 0.00% -0.05% -0.07% -0.03% 0.12% -0.18% 0.09%

Misc. Info

Last NAVs 100.3266 101.3183 102.2807 103.2693 101.4172 102.5520 100.9407 102.5972 103.4336 100.8701 102.2811 102.8586 100.9053 101.9840 103.4336 100.8701 0.9661

Payouts 2.7000 2.8000 2.7500 2.8000 2.7500 2.7667 2.8000 2.7500 0.0289

Net Assets 1,801.00 1,423.00 1,435.00 1,337.25 1,503.96 1,671.58 1,232.90 1,373.41 1,424.78 1,078.97 1,049.93 1,023.77 937.34 1,255.18 1,671.58 937.34 251.56

MoM + / (-) % in NA -13.91% -20.99% 0.84% -6.81% 12.47% 11.14% -26.24% 11.40% 3.74% -24.27% -2.69% -2.49% -8.44% -3.87% 12.47% -26.24% 14.64%

Total + / (-) YTD % in NA -21.70% -38.13% -37.61% -41.86% 12.47% 25.00% -7.80% 2.70% 6.55% -19.31% -21.49% -23.44% -29.91% -6.14% 25.00% -29.91% 18.81%

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FOR FY 2011-12




Active Return / Alpha -0.14% -0.10% -0.21% -0.19% -0.15% 0.10% -0.04% 0.86% -0.22% -0.55% 0.09% -0.30% -0.17% -0.04% 0.86% -0.55% 0.39%

Corelation 0.95 0.94 0.94 0.93 (1.00) (0.87) (0.99) (0.18) 0.18 0.16 0.25 0.28 (0.27) 0.28 (1.00) 0.58

Beta 0.72 0.77 0.77 0.77 (3.05) (3.15) (4.83) (0.80) 0.94 0.80 1.25 1.40 (0.93) 1.40 (4.83) 2.43

R-Squared 0.91 0.89 0.88 0.87 1.00 0.76 0.98 0.03 0.03 0.03 0.06 0.08 0.37 1.00 0.03 0.46








Risk Adjusted Return -0.12% -0.08% -0.18% -0.19% -0.14% 0.11% 0.01% 0.84% -0.22% -0.54% 0.10% -0.29% -0.17% -0.03% 0.84% -0.54% 0.39%


Sharpe (1.39) (1.29) (1.38) (1.46) (0.07) (0.03) 0.53 0.29 0.02 0.05 (0.04) (0.08) 0.08 0.53 (0.08) 0.22

Sortino (0.25) (0.22) (0.22) (0.22) (0.14) (0.02) (0.01) 0.42 0.22 0.02 0.05 (0.03) (0.06) 0.05 0.42 (0.14) 0.17

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.00 (0.00) 0.00 (0.00) (0.00) 0.00 0.00 (0.00) 0.00

Tracking Error 0.05% 0.05% 0.05% 0.05% 0.18% 0.12% 0.45% 0.44% 0.47% 0.43% 0.41% 0.39% 0.36% 0.47% 0.12% 0.13%

Information Ratio (2.97) (2.77) (2.92) (3.11) (0.16) (0.25) 0.42 0.25 (0.00) 0.03 (0.07) (0.11) 0.01 0.42 (0.25) 0.22

VAMI 1.05 1.06 1.07 1.08 1.01 1.02 1.03 1.05 1.06 1.07 1.08 1.08 1.09 1.06 1.09 1.01 0.03

Excess Return on RFR -0.22% -0.20% -0.20% -0.20% -0.14% -0.01% 0.00% 0.21% 0.12% 0.01% 0.02% -0.02% -0.03% 0.02% 0.21% -0.14% 0.10%

Misc. Info

Last NAVs 105.3795 106.4596 107.4363 100.1372 101.1262 102.3409 103.4661 105.3959 106.1943 106.6629 107.8045 108.5410 100.9282 104.7178 108.5410 100.9282 2.8514

Payouts 8.3000 8.5000 8.5000 8.5000 8.5000

Net Assets 1,291 1,552 2,238 2,206.00 2,200.77 2,267.01 2,312.73 2,471.48 4,974.21 5,007.51 5,003.00 5,182.06 5,255.65 3,852.71 5,255.65 2,200.77 1,465.12

MoM + / (-) % in NA 9.54% 20.17% 44.20% -1.43% -0.24% 3.01% 2.02% 6.86% 101.26% 0.67% -0.09% 3.58% 1.42% 10.13% 101.26% -0.24% 33.11%

Total + / (-) YTD % in NA 29.15% 55.20% 123.80% 120.60% -0.24% 2.77% 4.84% 12.03% 125.49% 126.99% 126.79% 134.91% 138.24% 74.65% 138.24% -0.24% 66.42%


Standard Deviation 0.82% 0.62% 0.72% 0.64% 0.62% 0.57% 0.54% 0.50% 0.63% 0.82% 0.50% 0.10%

Downside Deviation 0.16% 0.11% 0.09% 0.08% 0.35% 0.38% 0.35% 0.39% 0.46% 0.26% 0.46% 0.08% 0.15%

Active Return / Alpha 0.01% 0.35% 0.13% 0.97% -0.10% -0.42% 0.16% -0.25% -0.07% 0.08% 0.97% -0.42% 0.40%

Corelation 1.00 0.99 0.85 0.78 0.65 0.66 0.61 0.60 0.77 1.00 0.60 0.16

Beta 0.71 0.86 1.15 1.13 1.06 1.09 1.06 1.06 1.01 1.15 0.71 0.15

R-Squared 1.00 0.97 0.73 0.61 0.43 0.43 0.38 0.36 0.61 1.00 0.36 0.26


Annualized Return (YTD) 11.45% 15.01% 14.39% 16.91% 15.21% 13.34% 13.17% 12.49% 12.17% 13.79% 16.91% 11.45% 1.73%

Annualized Return (MoM) 11.45% 15.56% 13.45% 22.15% 9.49% 5.50% 12.30% 7.94% 9.66% 11.13% 22.15% 5.50% 4.86%


Absolute Return (MoM) 0.16% 1.32% 1.10% 1.88% 0.78% 0.47% 1.04% 0.63% 0.82% 0.76% 1.88% 0.16% 0.50%

Sum Abs. Return (MoM) 0.16% 1.47% 2.58% 4.45% 5.23% 5.70% 6.74% 7.37% 8.19% 4.65% 8.19% 0.16% 2.75%

Benchmark Return 0.15% 0.97% 0.97% 0.90% 0.88% 0.89% 0.88% 0.88% 0.89% 0.74% 0.97% 0.15% 0.26%

Risk Adjusted Return -0.97% 0.23% 0.02% 0.85% -0.20% -0.52% 0.07% -0.35% -0.17% -0.12% 0.85% -0.97% 0.51%

Coefficient of Variation 1.11 0.72 0.64 0.61 0.65 0.59 0.58 0.55 0.68 1.11 0.55 0.18

Sharpe (0.45) (0.39) 0.05 (0.02) (0.16) (0.13) (0.20) (0.23) (0.19) 0.05 (0.45) 0.17

Sortino (6.19) (3.33) (2.66) 0.42 (0.04) (0.26) (0.21) (0.27) (0.25) (1.42) 0.42 (6.19) 2.20

Treynor (0.01) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.01) 0.00

Jensen's Alpha 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Tracking Error 0.24% 0.17% 0.43% 0.43% 0.48% 0.43% 0.43% 0.40% 0.38% 0.48% 0.17% 0.11%

Information Ratio 0.73 0.95 0.85 0.64 0.33 0.36 0.25 0.21 0.54 0.95 0.21 0.29

VAMI 1.00 1.01 1.03 1.05 1.05 1.06 1.07 1.08 1.08 1.05 1.08 1.00 0.03

Excess Return on RFR -0.97% -0.37% -0.24% 0.03% -0.01% -0.10% -0.07% -0.11% -0.11% -0.22% 0.03% -0.97% 0.31%

Misc. Info

Last NAVs 100.1564 101.4763 100.4950 102.3804 103.1769 100.3878 101.4333 102.0716 100.5065 101.3427 103.1769 100.1564 1.0450

Payouts 2.1000 3.2700 2.4000 2.5900 3.2700 2.1000 0.6077

Net Assets 1,181.70 1,166.35 1,016.70 1,685.75 4,239.23 4,930.60 5,299.82 5,259.12 5,215.06 3,332.70 5,299.82 1,016.70 1,996.72

MoM + / (-) % in NA -1.30% -12.83% 65.81% 151.47% 16.31% 7.49% -0.77% -0.84% 20.39% 151.47% -12.83% 55.31%

Total + / (-) YTD % in NA -1.30% -13.96% 42.65% 258.74% 317.25% 348.49% 345.05% 341.32% 204.78% 348.49% -13.96% 165.24%

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FOR FY 2011-12




Active Return / Alpha 0.01% 0.11% 0.09% 0.46% -0.15% -0.25% 2.44% -0.26% -0.06% 0.26% 2.44% -0.26% 0.84%

Corelation 1.00 1.00 0.93 0.87 0.79 0.37 0.34 0.33 0.70 1.00 0.33 0.30

Beta 0.56 0.74 0.92 0.89 0.86 1.11 1.07 1.05 0.90 1.11 0.56 0.19

R-Squared 1.00 1.00 0.87 0.75 0.63 0.14 0.12 0.11 0.58 1.00 0.11 0.40





Absolute Return (MoM) 0.14% 1.02% 1.00% 1.31% 0.74% 0.63% 3.26% 0.56% 0.77% 0.79% 3.26% 0.14% 0.89%

Sum Abs. Return (MoM) 0.14% 1.15% 2.15% 3.46% 4.20% 4.82% 8.08% 8.64% 9.41% 4.67% 9.41% 0.14% 3.37%

Benchmark Return 0.12% 0.91% 0.91% 0.84% 0.88% 0.87% 0.82% 0.82% 0.83% 0.69% 0.91% 0.12% 0.25%

Risk Adjusted Return -0.99% -0.07% -0.09% 0.28% -0.24% -0.36% 2.28% -0.41% -0.22% 0.02% 2.28% -0.99% 0.91%


Sharpe (0.85) (0.76) (0.42) (0.50) (0.60) 0.12 0.05 0.02 (0.37) 0.12 (0.85) 0.38

Sortino (7.21) (0.73) (0.46) (0.30) (0.31) (0.34) 0.18 0.08 0.03 (1.01) 0.18 (7.21) 2.34

Treynor (0.01) (0.01) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) 0.00 (0.01) 0.00

Jensen's Alpha (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00

Tracking Error 0.07% 0.05% 0.20% 0.22% 0.25% 0.93% 0.89% 0.84% 0.43% 0.93% 0.05% 0.39%


VAMI 1.00 1.01 1.02 1.04 1.04 1.05 1.08 1.09 1.10 1.05 1.10 1.00 0.04

Excess Return on RFR 0.12% -0.53% -0.38% -0.21% -0.22% -0.24% 0.12% 0.05% 0.02% -0.14% 0.12% -0.53% 0.23%

Misc. Info

Last NAVs 10.0137 10.1155 10.2166 10.0936 10.1679 10.2317 10.3350 10.1632 10.2414 10.1754 10.3350 10.0137 0.0944

Payouts 0.2566 0.2300 0.2300 0.2389 0.2566 0.2300 0.0154

Net Assets 400.22 380.68 363.09 322.65 284.18 342.26 361.04 345.14 232.81 336.90 400.22 232.81 51.37

MoM + / (-) % in NA -4.88% -4.62% -11.14% -11.92% 20.44% 5.49% -4.40% -32.55% -6.55% 20.44% -32.55% 15.12%

Total + / (-) YTD % in NA -4.88% -9.28% -19.38% -28.99% -14.48% -9.79% -13.76% -41.83% -17.80% -4.88% -41.83% 12.17%


Standard Deviation 0.63% 0.48% 0.41% 0.37% 0.34% 0.44% 0.63% 0.34% 0.12%

Downside Deviation 0.53% 0.66% 0.59% 0.54% 0.58% 0.66% 0.53% 0.06%

Active Return / Alpha 0.16% 0.16% 0.01% 0.07% 0.09% 0.13% 0.10% 0.16% 0.01% 0.06%

Corelation 1.00 0.99 0.99 0.99 0.99 0.99 1.00 0.99 0.00

Beta 0.50 0.61 0.68 0.73 0.77 0.66 0.77 0.50 0.11

R-Squared 1.00 0.98 0.98 0.98 0.98 0.98 1.00 0.98 0.01


Annualized Return (YTD) 15.10% 13.12% 8.16% 8.99% 9.69% 10.14% 10.87% 15.10% 8.16% 2.67%

Annualized Return (MoM) 15.10% 12.84% 10.74% 11.30% 12.40% 12.14% 12.35% 15.10% 10.74% 1.52%

Absolute Return (YTD) 0.17% 1.22% 2.14% 3.12% 4.13% 5.18% 2.66% 5.18% 0.17% 1.86%

Absolute Return (MoM) 0.17% 1.05% 0.91% 0.96% 0.98% 1.03% 0.73% 1.05% 0.17% 0.34%

Sum Abs. Return (MoM) 0.17% 1.22% 2.13% 3.08% 4.07% 5.10% 2.63% 5.10% 0.17% 1.83%

Benchmark Return 0.01% 0.90% 0.90% 0.89% 0.89% 0.90% 0.42% 0.90% 0.01% 0.36%

Risk Adjusted Return 0.15% 0.07% -0.08% -0.02% 0.01% 0.04% 0.03% 0.15% -0.08% 0.08%

Coefficient of Variation 1.03 0.67 0.53 0.45 0.40 0.62 1.03 0.40 0.25

Sharpe (0.62) (0.60) (0.54) (0.47) (0.41) (0.53) (0.41) (0.62) 0.09

Sortino (0.55) (0.33) (0.29) (0.26) (0.36) (0.26) (0.55) 0.13

Treynor (0.01) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.01) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 (0.00) 0.00

Tracking Error 0.00 0.08% 0.07% 0.06% 0.06% 0.06% 0.08% 0.00% 0.03%

Information Ratio 1.27 1.35 1.53 1.76 1.48 1.76 1.27 0.22

VAMI 1.00 1.01 1.02 1.03 1.04 1.05 1.03 1.05 1.00 0.02

Excess Return on RFR -0.86% -0.39% -0.29% -0.22% -0.17% -0.14% -0.34% -0.14% -0.86% 0.27%

Misc. Info

Last NAVs 10.0165 10.1219 10.2140 10.3118 10.2131 10.3181 10.1992 10.3181 10.0165 0.1154

Payouts 0.2000 0.2000 0.2000 0.2000

Net Assets 800.30 997.08 1,049.86 1,506.34 1,570.05 1,825.00 1,291.44 1,825.00 800.30 398.68

MoM + / (-) % in NA 24.59% 5.29% 43.48% 4.23% 16.24% 17.92% 43.48% 4.23% 16.15%

Total + / (-) YTD % in NA 24.59% 31.18% 88.22% 96.18% 128.04% 73.64% 128.04% 24.59% 44.41%

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FOR FY 2011-12


Standard Deviation 0.48% 0.58% 0.48% 0.42% 0.49% 0.58% 0.42% 0.07%

Downside Deviation 0.52% 0.43% 0.53% 0.61% 0.52% 0.61% 0.43% 0.08%

Active Return / Alpha -0.01% -0.15% 0.34% -0.11% -0.02% 0.01% 0.34% -0.15% 0.19%

Corelation 1.00 0.91 0.88 0.89 0.92 1.00 0.88 0.05

Beta 0.41 0.75 0.78 0.82 0.69 0.82 0.41 0.18

R-Squared 1.00 0.82 0.78 0.79 0.85 1.00 0.78 0.10


Annualized Return (YTD) 9.52% 8.75% 11.45% 10.89% 10.77% 10.28% 11.45% 8.75% 1.11%

Annualized Return (MoM) 9.52% 8.70% 14.28% 9.52% 10.17% 10.27% 14.28% 8.70% 2.21%

Absolute Return (YTD) 0.05% 0.79% 2.00% 2.77% 3.65% 1.85% 3.65% 0.05% 1.45%

Absolute Return (MoM) 0.05% 0.74% 1.21% 0.75% 0.86% 0.50% 1.21% 0.05% 0.42%

Sum Abs. Return (MoM) 0.05% 0.79% 2.00% 2.75% 3.61% 1.84% 3.61% 0.05% 1.44%

Benchmark Return 0.06% 0.88% 0.87% 0.87% 0.88% 0.51% 0.88% 0.06% 0.37%

Risk Adjusted Return 0.05% -0.25% 0.24% -0.22% -0.12% -0.06% 0.24% -0.25% 0.20%

Coefficient of Variation 1.23 0.87 0.69 0.58 0.84 1.23 0.58 0.28

Sharpe (1.21) (0.54) (0.61) (0.61) (0.74) (0.54) (1.21) 0.32

Sortino (1.13) (0.74) (0.55) (0.42) (0.71) (0.42) (1.13) 0.31

Treynor (0.01) (0.00) (0.00) (0.00) (0.01) (0.00) (0.01) 0.01

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.10% 0.25% 0.22% 0.19% 0.19% 0.25% 0.10% 0.07%

Information Ratio (0.76) 0.25 0.09 0.06 (0.09) 0.25 (0.76) 0.46

VAMI 1.00 1.01 1.02 1.03 1.04 1.02 1.04 1.00 0.01

Excess Return on RFR -0.93% -0.59% -0.31% -0.29% -0.26% -0.47% -0.26% -0.93% 0.28%

Misc. Info

Last NAVs 10.0052 10.0286 10.1499 10.2265 10.0300 10.0880 10.2265 10.0052 0.0959

Payouts 0.0503 0.2846 0.1675 0.2846 0.0503 0.1657

Net Assets 801.20 1,128.12 31,458.86 31,756.35 19,641.61 16,957.23 31,756.35 801.20 15,395.58

MoM + / (-) % in NA 40.80% 2688.62% 0.95% -38.15% 122.51% 2688.62% -38.15% 1344.10%

Total + / (-) YTD % in NA 40.80% 3826.47% 3863.60% 2351.52% 2520.60% 3863.60% 40.80% 1796.93%




Active Return / Alpha 0.47% 0.10% -0.35% -0.75% -0.21% -0.22% -0.21% 0.21% -0.15% -0.69% -0.07% -0.18% 0.14% -0.15% 0.21% -0.69% 0.26%

Corelation 0.35 0.36 0.35 0.31 (0.04) (0.06) (0.17) 0.24 0.35 0.32 0.35 0.32 0.16 0.35 (0.17) 0.22

Beta 4.65 4.45 4.24 2.94 11.44 11.05 (0.85) (0.41) 1.88 2.10 2.09 1.75 3.63 11.44 (0.85) 4.84

R-Squared 0.26 0.26 0.27 0.24 1.00 0.66 0.55 0.28 0.30 0.25 0.25 0.23 0.44 1.00 0.23 0.28








Risk Adjusted Return 0.49% 0.11% -0.37% -0.80% -0.34% -0.26% -0.25% 0.22% -0.18% -0.75% -0.11% -0.22% 0.09% -0.20% 0.22% -0.75% 0.27%

Coefficient of Variation 1.24 1.02 1.09 0.49 0.14 (0.24) (0.51) (1.35) 1.15 0.54 0.34 (0.10) (0.01) 1.15 (1.35) 0.75

Sharpe (1.04) (0.98) (1.03) (1.05) (2.22) (1.93) (0.86) (0.77) (0.53) (0.36) (0.42) (0.42) (0.94) (0.36) (2.22) 0.73

Sortino (0.00) 0.01 (0.02) (0.03) (1.38) (0.20) (0.23) 0.02 (0.07) (0.19) (0.14) (0.17) (0.14) (0.28) 0.02 (1.38) 0.42

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.01) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.01) 0.00

Tracking Error 0.95% 0.91% 0.95% 0.99% 0.59% 0.58% 0.59% 0.53% 0.62% 0.65% 0.62% 0.63% 0.60% 0.65% 0.53% 0.04%

Information Ratio (0.77) (0.73) (0.79) (0.83) 0.67 (0.20) 0.23 (0.02) (0.03) (0.13) (0.19) (0.19) 0.02 0.67 (0.20) 0.30

VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.02 1.04 1.04 1.05 1.06 1.06 1.08 1.04 1.08 1.01 0.02


Misc. Info

Last NAVs 87.5291 87.3307 87.8134 87.9960 84.9080 84.7195 84.8693 82.2771 82.9014 82.8995 83.1718 83.4115 83.1347 83.5881 84.9080 82.2771 0.9835

Payouts 1.9511 2.9594 0.9632 3.7449 0.8598 0.5228 1.6946 1.6936 0.5164 1.8895 1.6571 1.4601 2.3090 1.4003 2.3090 0.5164 0.6276

Net Assets 1,713.76 1,734.87 1,749.35 1,753.35 1,761.55 1,756.59 1,764.68 1,912.28 2,275.13 2,213.90 2,167.68 2,157.70 2,108.18 2,013.08 2,275.13 1,756.59 213.24

MoM + / (-) % in NA -5.40% 0.32% 0.12% 1.21% 0.82% 0.17% 2.25% 9.68% 14.11% -2.40% 2.97% 0.95% -5.71% 2.39% 14.11% -5.71% 6.01%

Total + / (-) YTD % in NA -12.13% -11.41% -9.74% -7.88% 0.82% 1.02% 2.72% 12.50% 30.49% 28.59% 32.32% 34.59% 29.84% 19.21% 34.59% 0.82% 14.67%

Category NA 37,702.63 38,167.14 38,485.73 38,573.81 40,515.55 40,401.66 40,587.70 45,894.80 54,603.22 53,133.62 52,024.41 51,784.73 50,596.43 47,726.90 54,603.22 40,401.66 5,912.62


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CONVENTIONAL AGGRESSIVE INCOME FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min SD




Active Return / Alpha 1.13% 1.56% 1.56% -14.28% 1.41% 2.07% -2.11% 4.09% 0.56% 0.05% 1.31% 0.91% 0.95% 1.01% 4.09% -2.11% 1.65%

Corelation 0.33 0.40 0.44 (0.11) (1.00) 0.05 (0.66) (0.48) (0.32) (0.31) (0.31) (0.29) (0.41) 0.05 (1.00) 0.31

Beta 2.74 3.01 3.19 (1.50) (7.27) 3.59 (17.10) (11.79) (7.69) (6.76) (6.92) (6.29) (7.53) 3.59 (17.10) 5.81

R-Squared 0.11 0.16 0.19 0.01 1.00 0.00 0.44 0.23 0.10 0.09 0.09 0.08 0.26 1.00 0.00 0.33


Annualized Return (YTD) 9.36% 11.94% 14.02% -1.99% 29.97% 34.09% 18.76% 29.79% 28.03% 25.61% 26.28% 26.53% 26.57% 27.29% 34.09% 18.76% 4.15%

Annualized Return (MoM) 30.04% 38.60% 36.61% -81.91% 29.97% 37.27% -12.21% 59.69% 18.95% 12.21% 26.81% 24.60% 22.81% 23.07% 59.69% -12.21% 19.27%


Absolute Return (MoM) 2.26% 2.72% 2.68% -13.11% 2.54% 3.16% -1.00% 5.06% 1.55% 1.03% 2.27% 1.95% 1.93% 2.04% 5.06% -1.00% 1.63%

Sum Abs. Return (MoM) 7.01% 9.73% 12.41% -0.70% 2.54% 5.70% 4.69% 9.75% 11.30% 12.34% 14.61% 16.56% 18.49% 10.66% 18.49% 2.54% 5.50%


Risk Adjusted Return 1.15% 1.62% 1.59% -14.23% 1.41% 2.07% -2.09% 4.03% 0.58% 0.05% 1.30% 0.97% 0.95% 1.02% 4.03% -2.09% 1.63%

Coefficient of Variation 3.31 2.58 2.16 (81.23) 0.15 1.43 1.04 0.98 1.00 0.90 0.84 0.79 0.89 1.43 0.15 0.36

Sharpe (0.12) (0.04) 0.02 (0.24) 3.99 0.21 0.54 0.54 0.49 0.56 0.60 0.63 0.94 3.99 0.21 1.24

Sortino (0.16) (0.06) 0.03 (0.28) 0.81 2.71 2.68 2.47 2.78 2.94 3.09 2.50 3.09 0.81 0.77

Treynor (0.00) (0.00) 0.00 0.01 (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.01 0.01 0.01 (0.02) 0.02 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.00 0.00

Tracking Error 2.50% 2.40% 2.31% 4.76% 0.47% 2.24% 2.58% 2.26% 2.08% 1.90% 1.76% 1.65% 1.87% 2.58% 0.47% 0.64%

Information Ratio 0.03 0.09 0.15 (0.18) 3.72 0.20 0.53 0.53 0.49 0.55 0.59 0.62 0.90 3.72 0.20 1.14

VAMI 1.07 1.10 1.13 0.98 1.03 1.06 1.05 1.10 1.12 1.13 1.15 1.18 1.20 1.11 1.20 1.03 0.06

Excess Return on RFR -0.30% -0.11% 0.05% -1.14% 1.41% 1.74% 0.47% 1.36% 1.20% 1.01% 1.05% 1.04% 1.03% 1.15% 1.74% 0.47% 0.35%

Misc. Info

Last NAVs 103.34 106.15 109.00 94.71 85.22 87.91 87.03 91.43 92.85 93.81 95.94 97.81 99.70 92.41 99.70 85.22 4.98

Payouts 11.60

Net Assets 81.98 84.68 61.68 57.28 58.49 59.12 61.37 63.29 61.04 61.68 65.82 68.53 72.40 63.53 72.40 58.49 4.58

MoM + / (-) % in NA 1.26% 3.29% -27.16% -7.13% 2.11% 1.08% 3.80% 3.12% -3.55% 1.04% 6.73% 4.11% 5.65% 2.64% 6.73% -3.55% 3.02%

Total + / (-) YTD % in NA 5.17% 8.63% -20.87% -26.52% 1.55% 2.36% 5.24% 7.70% 4.82% 5.63% 10.96% 14.42% 19.39% 8.01% 19.39% 1.55% 5.88%




Active Return / Alpha 0.48% 0.17% 0.37% 0.10% -0.02% 0.60% 0.59% -0.50% 0.61% 1.23% 0.96% 0.13% 0.85% 0.49% 1.23% -0.50% 0.54%

Corelation 0.17 0.21 0.25 0.25 1.00 0.42 0.06 0.12 (0.19) (0.26) 0.03 0.02 0.15 1.00 (0.26) 0.40

Beta 0.52 0.64 0.75 0.77 2.46 0.58 0.03 0.06 (0.12) (0.16) 0.03 0.01 0.36 2.46 (0.16) 0.88

R-Squared 0.03 0.05 0.06 0.06 1.00 0.17 0.00 0.01 0.04 0.07 0.00 0.00 0.16 1.00 0.00 0.34








Risk Adjusted Return 0.42% 0.16% 0.30% -0.06% -0.10% 0.72% 0.33% 0.33% 0.34% 0.89% 0.79% -0.21% 0.48% 0.40% 0.89% -0.21% 0.38%


Sharpe (0.25) (0.21) (0.16) (0.16) 0.56 0.81 1.00 1.15 1.30 1.50 0.99 1.08 1.05 1.50 0.56 0.29

Sortino (0.33) (0.28) (0.21) (0.18) (0.10) 0.42 0.53 0.62 0.70 1.00 1.21 0.85 0.93 0.69 1.21 (0.10) 0.38

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.01 0.11 0.05 (0.04) (0.03) 0.14 0.30 0.07 0.30 (0.04) 0.11

Jensen's Alpha (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Tracking Error 0.74% 0.70% 0.67% 0.64% 0.00 0.00 0.01 0.00 0.01 0.01 0.01 0.01 0.51% 0.60% 0.35% 0.08%


VAMI 1.08 1.10 1.11 1.12 1.01 1.03 1.04 1.06 1.07 1.09 1.11 1.12 1.14 1.07 1.14 1.01 0.04

Excess Return on RFR -0.19% -0.15% -0.11% -0.11% -0.10% 0.31% 0.31% 0.32% 0.32% 0.42% 0.47% 0.39% 0.40% 0.31% 0.47% -0.10% 0.17%

Misc. Info

Last NAVs 51.29 51.43 51.64 52.1900 51.99 52.04 52.00 52.09 52.09 52.20 52.31 52.06 52.07 52.09 52.31 51.99 0.10

Payouts 0.51 0.51 0.51 0.3309 0.40 0.48 0.29 0.32 0.36 0.50 0.30 0.35 0.40 0.38 0.50 0.29 0.07

Net Assets 1,680 1,690 1,630 1,624.41 1,587.38 1,487.32 1,456.49 1,295.78 1,293.32 1,332.19 1,329.65 1,310.72 1,296.00 1,376.54 1,587.38 1,293.32 106.98

MoM + / (-) % in NA -4.55% 0.60% -3.55% -0.37% -2.28% -6.30% -2.07% -11.03% -0.19% 3.01% -0.19% -1.42% -1.12% -2.48% 3.01% -11.03% 4.05%

Total + / (-) YTD % in NA -24.46% -24.01% -26.71% -26.98% -1.67% -6.16% -7.55% -14.78% -14.89% -13.14% -13.25% -14.11% -14.77% -11.15% -1.67% -14.89% 4.81%

FUNDS SCREENING MEASURESFOR FY 2011-12

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Active Return / Alpha -0.51% -0.82% -0.49% -6.12% -0.32% -0.06% 1.32% 3.35% -0.06% -0.22% 1.08% 10.49% 1.07% 1.80% 10.49% -0.32% 3.44%

Corelation 0.35 0.38 0.40 0.17 (1.00) (0.59) (0.94) (0.34) (0.13) (0.16) (0.34) (0.30) (0.47) (0.13) (1.00) 0.34

Beta 16.20 17.13 18.40 9.19 (3.12) (16.77) (21.12) (6.18) (2.23) (2.43) (15.26) (13.65) (10.10) (2.23) (21.12) 7.46

R-Squared 0.12 0.14 0.16 0.03 1.00 0.35 0.88 0.12 0.02 0.02 0.11 0.09 0.32 1.00 0.02 0.39


Annualized Return (YTD) -9.31% -8.07% -6.70% -10.84% 9.79% 11.16% 17.40% 26.60% 23.80% 21.49% 22.26% 20.86% 21.38% 19.42% 26.60% 9.79% 5.64%




Sum Abs. Return (MoM) -7.10% -6.77% -6.13% -11.10% 0.83% 1.88% 4.32% 8.69% 9.62% 10.40% 12.45% 23.93% 26.00% 10.90% 26.00% 0.83% 8.89%


Risk Adjusted Return -0.47% -0.78% -0.45% -6.10% -0.30% -0.03% 1.35% 3.35% -0.05% -0.21% 1.08% 10.50% 1.08% 1.81% 10.50% -0.30% 3.44%

Coefficient of Variation (2.84) (3.16) (3.71) (2.54) 0.17 0.60 0.75 0.79 0.83 0.74 1.22 1.18 0.79 1.22 0.17 0.33

Sharpe (0.83) (0.82) (0.79) (0.86) (1.04) 0.39 0.67 0.57 0.48 0.56 0.54 0.55 0.34 0.67 (1.04) 0.56

Sortino (0.84) (0.83) (0.81) (0.84) (0.36) (0.17) 0.44 1.63 1.19 0.93 1.09 3.07 3.09 1.21 3.09 (0.36) 1.24

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.02) (0.02) (0.02) (0.02) (0.00) 0.01 0.02 0.01 0.01 0.01 0.02 0.02 0.01 0.02 (0.00) 0.01

Tracking Error 2.23% 2.13% 2.05% 2.34% 0.18% 0.88% 1.68% 1.54% 1.45% 1.33% 3.66% 3.44% 1.77% 3.66% 0.18% 1.20%

Information Ratio (0.85) (0.84) (0.81) (0.87) (1.04) 0.35 0.64 0.55 0.46 0.55 0.53 0.54 0.32 0.64 (1.04) 0.56

VAMI 0.93 0.93 0.94 0.89 1.01 1.02 1.04 1.09 1.10 1.11 1.13 1.26 1.29 1.12 1.29 1.01 0.10

Excess Return on RFR -1.87% -1.76% -1.64% -2.01% -0.30% -0.16% 0.34% 1.09% 0.86% 0.69% 0.74% 1.96% 1.86% 0.79% 1.96% -0.30% 0.78%

Misc. Info

Last NAVs 43.2584 43.3997 43.6788 41.5056 41.8497 42.2903 43.3206 45.2154 45.6352 45.9907 42.8331 43.1797 44.0736 43.82 45.99 41.85 1.49

Payouts 4.0993 4.10 4.10 4.10

Net Assets 752 755 760 721.73 727.71 607.88 622.69 649.93 656.46 661.07 674.33 679.84 739.93 668.87 739.93 607.88 43.43

MoM + / (-) % in NA 0.67% 0.40% 0.66% -5.00% 0.83% -16.47% 2.44% 4.37% 1.00% 0.70% 2.01% 0.82% 8.84% 0.28% 8.84% -16.47% 6.88%

Total + / (-) YTD % in NA -7.55% -7.18% -6.56% -11.23% 0.74% -14.00% -12.18% -8.83% -8.02% -7.46% -5.83% -5.15% 2.24% -6.50% 2.24% -14.00% 5.34%




Active Return / Alpha 0.08% 0.43% 0.31% -0.44% -0.06% 0.19% -0.15% 0.19% 2.59% -0.29% 0.83% 0.01% 4.41% 0.85% 4.41% -0.29% 1.60%

Corelation (0.11) 0.06 0.14 0.13 (1.00) (0.48) (0.41) (0.72) (0.41) (0.43) (0.34) (0.42) (0.53) (0.34) (1.00) 0.22

Beta (1.38) 0.93 2.23 1.94 (2.70) (2.69) (0.77) (9.01) (5.06) (5.01) (3.94) (8.61) (4.72) (0.77) (9.01) 2.88

R-Squared 0.01 0.00 0.02 0.02 1.00 0.23 0.17 0.52 0.17 0.19 0.12 0.17 0.32 1.00 0.12 0.30








Risk Adjusted Return 0.11% 0.46% 0.34% -0.43% -0.05% 0.20% -0.13% 0.17% 2.59% -0.29% 0.84% 0.01% 4.40% 0.85% 4.40% -0.29% 1.59%


Sharpe (0.90) (0.64) (0.52) (0.56) 0.53 0.06 0.35 0.51 0.40 0.49 0.46 0.55 0.42 0.55 0.06 0.16

Sortino (0.80) (0.67) (0.58) (0.58) (0.04) 0.10 0.01 0.07 0.87 0.64 0.79 0.74 1.62 0.53 1.62 (0.04) 0.55

Treynor 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.01 0.00 0.01 0.00 0.00

Tracking Error 0.51% 0.56% 0.57% 0.55% 0.18% 0.18% 0.18% 1.15% 1.08% 1.00% 0.94% 1.60% 0.79% 1.60% 0.18% 0.54%

Information Ratio (0.93) (0.69) (0.57) (0.61) 0.37 (0.04) 0.24 0.48 0.38 0.47 0.44 0.54 0.36 0.54 (0.04) 0.19

VAMI 1.06 1.07 1.09 1.10 1.01 1.02 1.03 1.05 1.08 1.09 1.11 1.12 1.18 1.08 1.18 1.01 0.06

Excess Return on RFR -0.46% -0.36% -0.30% -0.31% -0.05% 0.08% 0.01% 0.05% 0.56% 0.42% 0.48% 0.42% 0.86% 0.31% 0.86% -0.05% 0.31%

Misc. Info

Last NAVs 104.13 102.26 103.73 104.45 103.05 104.38 105.38 103.64 104.23 104.95 106.85 104.71 106.98 104.91 106.98 103.05 1.33

Payouts 3.50 2.50 3.00 3.20 3.10 3.20 3.00 0.14

Net Assets 630.73 632.12 640.00 603.55 604.65 611.24 616.39 618.44 544.11 542.70 545.52 458.41 479.83 557.92 618.44 458.41 59.88

MoM + / (-) % in NA -0.64% 0.22% 1.25% -5.63% 0.18% 1.09% 0.84% 0.33% -12.02% -0.26% 0.52% -15.97% 4.67% -2.52% 4.67% -15.97% 6.86%

Total + / (-) YTD % in NA -15.56% -15.38% -14.32% -19.14% 0.15% 1.03% 1.72% 1.99% -7.96% -8.15% -7.77% -19.43% -16.56% -6.11% 1.99% -19.43% 8.02%

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Active Return / Alpha 1.38% 0.82% 0.62% 0.35% -0.41% 0.29% -0.44% -0.33% -0.53% -0.41% 0.27% -0.07% 0.72% -0.10% 0.72% -0.53% 0.43%

Corelation 0.05 0.11 0.14 0.16 (1.00) (0.97) 0.01 0.39 0.45 0.12 0.08 (0.12) (0.13) 0.45 (1.00) 0.56

Beta 2.42 4.97 6.18 6.85 (9.42) (13.75) 0.07 1.86 2.03 0.63 0.40 (0.80) (2.37) 2.03 (13.75) 5.87

R-Squared 0.00 0.01 0.02 0.03 1.00 0.93 0.00 0.15 0.20 0.02 0.01 0.01 0.29 1.00 0.00 0.42








Risk Adjusted Return 1.42% 0.86% 0.66% 0.37% -0.38% 0.32% -0.38% -0.30% -0.49% -0.37% 0.32% -0.03% 0.76% -0.06% 0.76% -0.49% 0.43%


Sharpe (0.19) (0.14) (0.10) (0.08) (0.07) (0.38) (0.55) (0.72) (0.84) (0.53) (0.51) (0.15) (0.47) (0.07) (0.84) 0.26

Sortino (0.30) (0.21) (0.16) (0.12) (0.51) (0.04) (0.21) (0.26) (0.37) (0.41) (0.31) (0.25) (0.10) (0.27) (0.04) (0.51) 0.15

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.03) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00 (0.03) 0.01

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Tracking Error 2.12% 2.04% 1.96% 1.87% 0.49% 0.41% 0.34% 0.33% 0.30% 0.35% 0.33% 0.43% 0.37% 0.49% 0.30% 0.07%


VAMI 1.06 1.08 1.10 1.12 1.01 1.02 1.03 1.04 1.04 1.05 1.06 1.07 1.09 1.04 1.09 1.01 0.03


Misc. Info

Last NAVs 47.9788 48.9226 49.783 50.5272 47.1752 47.8367 48.1723 48.5211 48.7575 49.0565 49.6894 50.1614 51.0377 48.93 51.04 47.18 1.20

Payouts 3.7000

Net Assets 431.99 406.02 404.81 413.69 418.44 422.66 423.88 421.27 423.31 437.26 430.78 434.82 443.02 428.38 443.02 418.44 8.43

MoM + / (-) % in NA 2.06% -6.01% -0.30% 2.19% 1.15% 1.01% 0.29% -0.61% 0.48% 3.29% -1.48% 0.94% 1.88% 0.76% 3.29% -1.48% 1.38%

Total + / (-) YTD % in NA -10.02% -15.43% -15.68% -13.83% 1.15% 2.17% 2.46% 1.83% 2.33% 5.70% 4.13% 5.11% 7.09% 3.55% 7.09% 1.15% 2.04%




Active Return / Alpha 0.59% 0.34% -3.17% 4.97% -0.22% -0.09% -0.24% 0.89% -1.83% -16.51% 1.91% 0.30% 5.02% -1.38% 5.02% -16.51% 6.05%

Corelation 0.20 0.27 0.21 0.32 (1.00) (0.04) (0.93) 0.36 0.44 0.27 0.20 0.08 (0.08) 0.44 (1.00) 0.57

Beta 7.91 10.86 8.65 16.51 (0.89) (0.07) (5.77) 4.06 35.97 21.22 15.29 6.28 9.51 35.97 (5.77) 13.86

R-Squared 0.04 0.07 0.05 0.10 1.00 0.00 0.86 0.13 0.20 0.07 0.04 0.01 0.29 1.00 0.00 0.40


Annualized Return (YTD) -9.95% -7.35% -8.72% -2.37% 11.47% 11.99% -1.26% 4.62% 1.80% -28.51% -20.28% -16.19% -7.45% -4.87% 11.99% -28.51% 14.28%

Annualized Return (MoM) 23.04% 20.18% -21.08% 106.85% 11.47% 12.40% 11.05% 22.85% -9.92% -182.60% 34.63% 16.67% 71.38% -1.34% 71.38% -182.60% 71.52%

Absolute Return (YTD) 0.97% 2.03% -0.32% 1.55% 0.75% -14.33% -11.92% -10.79% -5.60% -4.18% 2.03% -14.33% 6.58%

Absolute Return (MoM) 1.78% 1.52% -1.99% 6.16% 0.97% 1.05% 0.91% 1.94% -0.81% -15.47% 2.93% 1.32% 6.05% -0.30% 6.05% -15.47% 6.05%

Sum Abs. Return (MoM) -7.58% -6.06% -8.05% -1.89% 0.97% 2.02% 2.93% 4.86% 4.05% -11.42% -8.48% -7.16% -1.12% -1.48% 4.86% -11.42% 6.01%


Risk Adjusted Return 0.67% 0.42% -3.09% 5.03% -0.15% -0.04% -0.18% 0.91% -1.79% -16.45% 1.96% 0.34% 5.06% -1.33% 5.06% -16.45% 6.05%

Coefficient of Variation (2.97) (4.09) (3.26) (19.18) 0.05 0.07 0.40 1.23 (3.52) (5.27) (6.68) (48.79) (7.81) 1.23 (48.79) 16.81

Sharpe (0.77) (0.68) (0.76) (0.41) (1.71) (1.71) 0.28 (0.25) (0.44) (0.35) (0.32) (0.19) (0.59) 0.28 (1.71) 0.73

Sortino (0.79) (0.73) (0.79) (0.57) (0.16) (0.09) (0.13) 0.16 (0.30) (0.46) (0.38) (0.35) (0.22) (0.21) 0.16 (0.46) 0.19

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.02 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.02 (0.00) 0.01

Jensen's Alpha (0.02) (0.02) (0.02) (0.02) (0.00) (0.00) 0.00 (0.00) (0.05) (0.03) (0.03) (0.01) (0.02) 0.00 (0.05) 0.02

Tracking Error 2.49% 2.46% 2.37% 3.00% 0.09% 0.08% 0.54% 0.98% 6.67% 6.37% 5.97% 6.05% 3.34% 6.67% 0.08% 3.14%

Information Ratio (0.79) (0.71) (0.79) (0.43) (1.78) (2.35) 0.16 (0.31) (0.45) (0.36) (0.33) (0.20) (0.70) 0.16 (2.35) 0.87

VAMI 0.92 0.94 0.92 0.98 1.01 1.02 1.03 1.05 1.04 0.88 0.91 0.92 0.97 0.98 1.05 0.88 0.06


Misc. Info

Last NAVs 46.8396 47.5528 46.6063 49.4753 49.9560 48.8906 47.7291 48.6527 48.2569 40.7935 41.9901 42.5447 45.1169 45.99 49.96 40.79 3.45

Payouts 1.5900 1.59 1.59 1.59

Net Assets 284.65 273.30 267.83 284.29 287.03 275.71 269.14 273.23 268.45 226.93 236.72 236.98 251.02 258.36 287.03 226.93 21.00

MoM + / (-) % in NA -0.02% -3.99% -2.00% 6.14% 0.96% -3.94% -2.39% 1.52% -1.75% -15.47% 4.32% 0.11% 5.93% -1.37% 5.93% -15.47% 6.20%

Total + / (-) YTD % in NA -53.73% -55.57% -56.46% -53.78% 0.44% -1.39% -2.46% -1.80% -2.58% -9.33% -7.73% -7.69% -5.41% -4.22% 0.44% -9.33% 3.41%

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Active Return / Alpha -0.80% 2.16% 0.47% -0.54% 0.10% 0.11% -2.83% 0.05% -0.61% -0.17% -1.05% -0.30% -0.34% -0.56% 0.11% -2.83% 0.93%

Corelation 0.02 0.14 0.16 0.16 1.00 0.49 0.16 0.08 (0.01) 0.09 0.04 0.02 0.23 1.00 (0.01) 0.35

Beta 0.85 7.37 8.66 7.76 0.26 27.02 7.95 1.41 (0.16) 1.15 0.56 0.28 4.81 27.02 (0.16) 9.35

R-Squared 0.00 0.02 0.03 0.03 1.00 0.24 0.03 0.01 0.00 0.01 0.00 0.00 0.16 1.00 0.00 0.35


Annualized Return (YTD) -0.19% 3.77% 5.20% 5.41% 14.71% 14.69% 2.93% 5.62% 5.44% 6.21% 5.21% 5.67% 5.93% 7.38% 14.71% 2.93% 4.26%

Annualized Return (MoM) 3.93% 48.13% 20.32% 7.70% 14.71% 14.49% -20.87% 13.54% 4.61% 9.75% -0.66% 8.76% 7.70% 5.19% 14.71% -20.87% 11.17%


Absolute Return (MoM) 0.33% 3.28% 1.58% 0.61% 1.25% 1.23% -1.71% 1.15% 0.38% 0.83% -0.06% 0.69% 0.65% 0.49% 1.25% -1.71% 0.93%



Risk Adjusted Return -0.78% 2.18% 0.49% -0.51% 0.12% 0.14% -2.80% 0.12% -0.60% -0.16% -1.03% -0.28% -0.33% -0.54% 0.14% -2.80% 0.93%


Sharpe (0.50) (0.33) (0.29) (0.30) 10.00 (0.50) (0.41) (0.48) (0.46) (0.56) (0.57) (0.58) 0.81 10.00 (0.58) 3.71

Sortino (0.69) (0.51) (0.45) (0.46) (0.86) (0.70) (0.77) (0.67) (0.82) (0.77) (0.74) (0.76) (0.67) (0.86) 0.06

Treynor (0.01) (0.00) (0.00) (0.00) 0.01 (0.00) (0.00) (0.00) 0.03 (0.01) (0.01) (0.02) (0.00) 0.03 (0.02) 0.02

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) 0.00 (0.02) (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) 0.00 (0.02) 0.00

Tracking Error 2.16% 2.28% 2.20% 2.09% 0.01% 1.69% 1.46% 1.26% 1.14% 1.06% 0.99% 0.93% 1.07% 1.69% 0.01% 0.50%

Information Ratio (0.50) (0.33) (0.29) (0.30) 8.57 (0.52) (0.44) (0.50) (0.49) (0.59) (0.59) (0.60) 0.60 8.57 (0.60) 3.22

VAMI 1.00 1.03 1.05 1.05 1.01 1.02 1.01 1.02 1.02 1.03 1.03 1.04 1.04 1.03 1.04 1.01 0.01

Excess Return on RFR -1.07% -0.75% -0.64% -0.62% 0.12% 0.13% -0.84% -0.60% -0.60% -0.53% -0.60% -0.56% -0.54% -0.45% 0.13% -0.84% 0.34%

Misc. Info

Last NAVs 94.7600 97.8700 99.4200 100.0281 99.3725 100.5923 98.8712 100.0048 100.3826 101.2120 101.1557 101.8579 102.5226 100.66 102.52 98.87 1.16

Payouts 1.8786

Net Assets 1,270 1,429 1,533 1,731.52 1,842.99 1,999.62 1,852.75 1,901.79 1,900.18 1,904.99 1,499.00 1,509.72 1,499.26 1,767.81 1,999.62 1,499.00 203.68

MoM + / (-) % in NA 0.95% 12.52% 7.28% 12.98% 6.44% 8.50% -7.34% 2.65% -0.08% 0.25% -21.31% 0.72% -0.69% -1.59% 8.50% -21.31% 8.78%

Total + / (-) YTD % in NA -3.27% 8.83% 16.76% 31.91% 8.49% 20.42% 9.23% 12.97% 12.85% 13.21% -17.71% -16.89% -17.69% 2.76% 20.42% -17.71% 15.51%




Active Return / Alpha -0.66% -3.01% -0.80% -7.42% -0.38% -1.76% -5.22% -0.87% -0.73% -14.70% 0.81% -0.79% 0.05% -2.74% 0.81% -14.70% 4.84%

Corelation 0.15 (0.17) (0.02) (0.38) 1.00 1.00 0.05 (0.24) 0.72 0.22 0.05 (0.08) 0.34 1.00 (0.24) 0.49

Beta 3.46 (3.78) (0.42) (15.82) 276.55 389.47 10.37 (22.08) 127.52 29.21 5.48 (6.50) 101.25 389.47 (22.08) 153.03

R-Squared 0.02 0.03 0.00 0.15 1.00 1.00 0.00 0.06 0.52 0.05 0.00 0.01 0.33 1.00 0.00 0.45


Annualized Return (YTD) -3.78% -5.60% -4.75% -10.38% 8.91% 0.72% -15.83% -11.12% -8.12% -32.95% -25.56% -22.23% -18.54% -13.86% 8.91% -32.95% 13.08%

Annualized Return (MoM) 5.49% -20.68% 3.97% -54.63% 8.91% -7.42% -49.96% 2.95% 4.38% -160.95% 21.94% 2.85% 12.36% -18.33% 21.94% -160.95% 57.21%


Absolute Return (MoM) 0.45% -1.89% 0.33% -6.29% 0.75% -0.63% -4.10% 0.25% 0.36% -13.63% 1.86% 0.23% 1.05% -1.65% 1.86% -13.63% 4.84%

Sum Abs. Return (MoM) -2.86% -4.74% -4.41% -10.70% 0.75% 0.13% -3.97% -3.72% -3.36% -16.99% -15.13% -14.91% -13.86% -7.90% 0.75% -16.99% 7.18%


Risk Adjusted Return -0.65% -2.99% -0.76% -7.41% -0.37% -1.71% -5.18% -0.77% -0.62% -14.62% 0.89% -0.75% 0.06% -2.68% 0.89% -14.62% 4.83%

Coefficient of Variation (2.72) (2.01) (2.34) (2.15) 15.44 (1.89) (2.35) (2.95) (1.97) (2.49) (2.72) (3.14) (0.26) 15.44 (3.14) 6.36

Sharpe (1.61) (1.63) (1.58) (1.03) (1.07) (0.97) (0.92) (0.87) (0.70) (0.59) (0.57) (0.53) (0.78) (0.53) (1.07) 0.20

Sortino (1.60) (1.52) (1.51) (0.97) (0.49) (1.50) (1.00) (0.95) (0.91) (0.67) (0.59) (0.57) (0.54) (0.80) (0.49) (1.50) 0.32

Treynor (0.00) 0.00 0.04 0.00 (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.01) 0.00 (0.00) 0.00 (0.01) 0.00

Jensen's Alpha (0.01) (0.02) (0.01) (0.02) (0.09) (0.15) (0.03) (0.00) (0.12) (0.05) (0.03) (0.02) (0.06) (0.00) (0.15) 0.05

Tracking Error 0.86% 0.96% 0.94% 1.94% 0.98% 2.49% 2.19% 1.98% 5.56% 5.39% 5.06% 4.84% 3.56% 5.56% 0.98% 1.83%


VAMI 0.97 0.95 0.96 0.90 1.01 1.00 0.96 0.96 0.97 0.83 0.85 0.85 0.86 0.92 1.01 0.83 0.07


Misc. Info

Last NAVs 94.8173 93.0289 93.3371 87.4664 88.1265 87.5730 83.9865 84.1965 84.4989 72.9796 74.3356 74.5035 75.2837 80.61 88.13 72.98 6.20

Payouts

Net Assets 3,933 3,716 3,684 3,431.30 3,350.98 3,322.10 3,157.89 3,155.95 3,065.80 2,724.04 2,771.03 2,764.10 2,778.77 3,010.07 3,350.98 2,724.04 253.17

MoM + / (-) % in NA -2.72% -5.52% -0.86% 0.03% -2.34% -0.86% -4.94% -0.06% -2.86% -11.15% 1.72% -0.25% 0.53% -2.32% 1.72% -11.15% 3.89%

Total + / (-) YTD % in NA -52.22% -54.85% -55.24% -55.23% -0.98% -1.33% -3.32% -3.35% -4.44% -8.59% -8.02% -8.11% -7.93% -5.12% -0.98% -8.59% 3.08%

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Active Return / Alpha -2.79% 1.20% -0.85% -0.89% 2.07% 1.52% -1.81% -36.47% 1.48% 10.96% 1.49% -0.36% 3.92% -2.93% 10.96% -36.47% 13.45%

Corelation (0.32) (0.22) (0.20) (0.18) 1.00 0.64 0.99 0.57 0.31 0.24 0.22 0.17 0.52 1.00 0.17 0.34

Beta (56.42) (36.60) (32.96) (26.52) 13.21 70.31 205.76 100.79 58.61 44.72 38.77 30.24 70.30 205.76 13.21 60.86

R-Squared 0.10 0.05 0.04 0.03 1.00 0.41 0.99 0.32 0.10 0.06 0.05 0.03 0.37 1.00 0.03 0.41


Annualized Return (YTD) -9.92% -6.44% -5.60% -4.92% 38.04% 35.17% 20.83% -95.50% -72.76% -43.93% -34.29% -29.45% -20.86% -22.53% 38.04% -95.50% 46.60%

Annualized Return (MoM) -17.98% 32.20% 3.06% 2.98% 38.04% 31.28% -8.30% -418.82% 30.17% 141.36% 29.40% 8.12% 58.14% -10.07% 141.36% -418.82% 158.98%

Absolute Return (YTD) 3.22% 5.96% 5.24% -32.10% -30.42% -22.08% -20.14% -19.63% -15.67% -13.96% 5.96% -32.10% 15.00%

Absolute Return (MoM) -1.67% 2.32% 0.26% 0.24% 3.22% 2.65% -0.68% -35.47% 2.47% 11.97% 2.49% 0.64% 4.92% -1.88% 11.97% -35.47% 13.46%

Sum Abs. Return (MoM) -6.34% -4.02% -3.76% -3.52% 3.22% 5.87% 5.19% -30.28% -27.81% -15.84% -13.35% -12.70% -7.78% -10.39% 5.87% -30.28% 13.43%


Risk Adjusted Return -2.77% 1.22% -0.84% -0.88% 2.10% 1.56% -1.77% -36.50% 1.50% 10.99% 1.52% -0.33% 3.94% -2.91% 10.99% -36.50% 13.47%

Coefficient of Variation (8.53) (14.30) (15.95) (17.74) 0.14 1.22 (2.47) (3.02) (6.30) (8.03) (8.94) (15.58) (5.37) 1.22 (15.58) 5.51

Sharpe (0.30) (0.26) (0.26) (0.26) 4.52 0.30 (0.46) (0.39) (0.22) (0.19) (0.18) (0.14) 0.40 4.52 (0.46) 1.68

Sortino (0.40) (0.35) (0.35) (0.35) 1.61 (0.49) (0.42) (0.25) (0.22) (0.21) (0.16) (0.02) 1.61 (0.49) 0.73

Treynor 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.02) (0.01) (0.01) (0.01) 0.01 (0.02) (0.13) (0.09) (0.05) (0.04) (0.03) (0.03) (0.05) 0.01 (0.13) 0.04

Tracking Error 6.01% 5.75% 5.46% 5.20% 0.39% 2.10% 18.61% 16.75% 16.61% 15.29% 14.19% 13.45% 12.17% 18.61% 0.39% 6.95%

Information Ratio (0.30) (0.26) (0.26) (0.27) 4.62 0.28 (0.47) (0.40) (0.22) (0.19) (0.19) (0.14) 0.41 4.62 (0.47) 1.71

VAMI 0.92 0.95 0.95 0.95 1.03 1.06 1.05 0.68 0.70 0.78 0.80 0.80 0.84 0.86 1.06 0.68 0.15

Excess Return on RFR -1.78% -1.48% -1.42% -1.38% 2.10% 1.83% 0.63% -8.65% -6.62% -3.69% -2.94% -2.62% -1.89% -2.43% 2.10% -8.65% 3.65%

Misc. Info

Last NAVs 8.6865 8.8881 8.9109 8.9324 9.2202 9.4645 9.4001 6.0655 6.2155 6.9597 7.1330 7.1789 7.5324 7.69 9.46 6.07 1.34

Payouts

Net Assets 110.76 110.79 109.80 111.81 125.30 128.23 123.41 72.40 106.56 122.41 155.59 303.52 305.48 160.32 305.48 72.40 84.61

MoM + / (-) % in NA -7.39% 0.03% -0.89% 1.83% 12.07% 2.34% -3.76% -41.33% 47.18% 14.87% 27.11% 95.07% 0.65% 11.82% 95.07% -41.33% 37.84%

Total + / (-) YTD % in NA -68.89% -68.88% -69.16% -68.59% 3.79% 4.61% 3.26% -11.07% -1.47% 2.98% 12.30% 53.85% 54.40% 13.63% 54.40% -11.07% 23.77%




Active Return / Alpha -3.15% -0.33% -28.09% -8.10% -0.65% 0.57% -4.88% -0.31% 0.02% 0.71% 0.58% -0.28% 3.17% -0.14% 3.17% -4.88% 2.11%

Corelation (0.22) (0.11) (0.25) (0.27) (1.00) 0.33 (0.15) (0.29) (0.40) (0.45) (0.44) (0.50) (0.36) 0.33 (1.00) 0.37

Beta (9.72) (5.00) (41.64) (44.98) (18.31) 33.25 (5.15) (7.37) (9.92) (10.93) (10.27) (14.07) (5.35) 33.25 (18.31) 16.10

R-Squared 0.05 0.01 0.06 0.07 1.00 0.11 0.02 0.08 0.16 0.20 0.19 0.25 0.25 1.00 0.02 0.31


Annualized Return (YTD) -12.69% -10.65% -35.87% -38.11% 5.89% 12.97% -6.58% -2.84% 0.12% 3.51% 5.72% 6.14% 11.23% 4.02% 12.97% -6.58% 6.30%

Annualized Return (MoM) -21.17% 10.34% -97.52% -58.37% 5.89% 19.94% -45.98% 8.40% 12.36% 20.22% 18.51% 8.99% 49.23% 7.62% 49.23% -45.98% 24.92%

Absolute Return (YTD) 0.50% 2.20% -1.65% -0.95% 0.05% 1.76% 3.36% 4.09% 8.43% 1.98% 8.43% -1.65% 3.08%

Absolute Return (MoM) -2.00% 0.81% -26.95% -6.95% 0.50% 1.69% -3.77% 0.71% 1.01% 1.71% 1.57% 0.71% 4.17% 0.90% 4.17% -3.77% 2.08%

Sum Abs. Return (MoM) -9.93% -9.12% -36.07% -43.02% 0.50% 2.19% -1.58% -0.87% 0.14% 1.86% 3.43% 4.14% 8.31% 2.01% 8.31% -1.58% 3.02%


Risk Adjusted Return -3.10% -0.29% -28.05% -8.07% -0.63% 0.60% -4.85% -0.31% 0.04% 0.73% 0.60% -0.26% 3.18% -0.12% 3.18% -4.85% 2.10%

Coefficient of Variation (2.00) (2.38) (2.48) (2.18) 0.77 (5.45) (11.16) 74.98 6.65 3.96 3.47 2.25 9.43 74.98 (11.16) 27.10

Sharpe (0.99) (0.92) (0.54) (0.60) (0.01) (0.57) (0.54) (0.47) (0.36) (0.28) (0.28) (0.05) (0.32) (0.01) (0.57) 0.21

Sortino (0.95) (0.91) (0.52) (0.56) (1.25) (0.03) (0.74) (0.67) (0.60) (0.47) (0.37) (0.37) (0.08) (0.51) (0.03) (1.25) 0.37

Treynor 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00

Jensen's Alpha (0.02) (0.02) (0.03) (0.04) 0.00 (0.03) (0.01) (0.01) (0.01) (0.00) (0.00) 0.00 (0.01) 0.00 (0.03) 0.01

Tracking Error 2.22% 2.18% 8.13% 7.82% 0.86% 2.86% 2.43% 2.19% 2.09% 1.97% 1.83% 2.11% 2.04% 2.86% 0.86% 0.57%


VAMI 0.90 0.91 0.67 0.62 1.00 1.02 0.98 0.99 1.00 1.02 1.03 1.04 1.08 1.02 1.08 0.98 0.03


Misc. Info

Last NAVs 77.2946 77.9224 56.9219 52.9665 53.2308 54.1300 52.0900 52.4608 52.9924 53.9000 54.7450 55.1351 57.4339 54.01 57.43 52.09 1.63

Payouts

Net Assets 633 607 425 369.44 365.87 371.74 357.50 383.99 387.88 394.33 403.03 405.80 427.25 388.60 427.25 357.50 21.85

MoM + / (-) % in NA -3.51% -4.11% -29.98% -14.35% -0.96% 1.60% -3.83% 7.41% 1.01% 1.66% 2.21% 0.69% 5.29% 1.63% 7.41% -3.83% 3.26%

Total + / (-) YTD % in NA -33.99% -36.70% -55.68% -62.04% -0.37% 0.24% -1.24% 1.52% 1.92% 2.60% 3.50% 3.79% 6.03% 2.00% 6.03% -1.24% 2.28%

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Active Return / Alpha -0.62% 0.19% -3.41% -3.64% 0.21% 0.35% -1.70% -3.29% 0.22% -2.10% 0.88% 1.12% 2.12% -0.26% 2.12% -3.29% 1.75%

Corelation 0.06 0.11 0.13 0.01 (0.11) 0.20 (0.20) (0.10) 0.00 (0.09) (0.10) (0.14) (0.07) 0.20 (0.20) 0.12

Beta (3.98) (0.60) (3.68) (5.85) 28.91 56.08 19.36 5.54 21.88 7.89 2.64 (1.37) 17.62 56.08 (1.37) 18.72

R-Squared 0.05 0.06 0.07 0.06 1.00 0.28 0.38 0.16 0.14 0.08 0.07 0.07 0.27 1.00 0.07 0.31


Annualized Return (YTD) -2.01% -0.73% -2.77% -5.05% 15.96% 16.33% 6.63% -2.14% 0.03% -2.95% 0.30% 1.53% 4.69% 4.49% 16.33% -2.95% 7.26%

Annualized Return (MoM) 7.33% 18.91% -1.19% -11.23% 15.96% 17.44% -7.51% -25.52% 14.60% -13.39% 21.88% 26.34% 36.34% 7.73% 36.34% -25.52% 20.39%


Absolute Return (MoM) 0.50% 1.33% -2.29% -2.51% 1.35% 1.48% -0.62% -2.16% 1.20% -1.13% 1.85% 2.09% 3.08% 0.78% 3.08% -2.16% 1.71%



Risk Adjusted Return -0.60% 0.22% -3.38% -3.63% 0.23% 0.39% -1.70% -3.18% 0.22% -2.12% 0.88% 1.11% 2.09% -0.25% 2.09% -3.18% 1.72%

Coefficient of Variation 49.89 (1.66) (2.13) (13.23) 1.92 0.35 (1.15) 8.41 (0.02) (0.77) (1.09) (6.70) 0.12 8.41 (6.70) 4.18

Sharpe (0.70) (0.62) (0.54) (0.49) 1.75 (0.22) 0.06 0.03 0.05 0.13 0.07 0.15 0.25 1.75 (0.22) 0.62

Sortino (0.73) (0.65) (0.58) (0.53) (0.40) (0.21) 0.08 0.26 0.27 0.28 0.39 0.59 0.78 0.23 0.78 (0.40) 0.37

Treynor (0.00) (0.00) 0.00 0.00 0.00 0.00 0.01 0.01 (0.00) (0.00) 0.01 0.03 0.01 0.03 (0.00) 0.01

Jensen's Alpha (0.01) (0.01) (0.01) (0.02) (0.01) (0.02) (0.02) (0.01) (0.02) (0.01) (0.01) (0.00) (0.01) (0.00) (0.02) 0.01

Tracking Error 2.19% 2.16% 2.75% 3.15% 0.40% 1.43% 3.35% 3.18% 4.14% 3.88% 3.88% 3.84% 3.01% 4.14% 0.40% 1.36%

Information Ratio (0.65) (0.58) (0.51) (0.46) 1.55 (0.28) (0.06) (0.06) (0.02) 0.04 0.04 0.12 0.17 1.55 (0.28) 0.57

VAMI 0.98 1.00 0.98 0.95 1.01 1.03 1.02 1.00 1.01 1.00 1.01 1.04 1.07 1.02 1.07 1.00 0.02

Excess Return on RFR -1.24% -1.09% -1.30% -1.50% 0.23% 0.31% -0.36% -1.07% -0.81% -1.03% -0.76% -0.52% -0.23% -0.47% 0.31% -1.07% 0.50%

Misc. Info

Last NAVs 69.3796 69.8335 68.1383 65.7471 64.6684 65.2523 64.4231 64.8617 65.2391 63.6439 64.1436 64.3311 65.6348 64.69 65.63 63.64 0.63

Payouts 0.5100 2.0050 0.5100 4.0774 0.4000 1.0350 0.2900 1.6600 0.3600 0.5000 2.1997 1.7750 0.4000 0.96 2.20 0.29 0.74

Net Assets 1,041.79 1,033.10 1,012.37 1,020.49 994.49 984.78 946.40 934.98 920.42 885.59 853.41 859.73 872.21 916.89 994.49 853.41 52.57

MoM + / (-) % in NA -1.77% 0.38% -6.14% -1.28% 1.89% -1.44% -1.92% -3.67% 3.19% -0.59% 2.57% 9.32% 3.30% 1.34% 9.32% -3.67% 3.87%

Total + / (-) YTD % in NA -28.28% -27.23% -32.03% -32.40% 1.35% 0.64% -0.81% -1.74% -2.20% -2.47% -3.73% 0.08% 2.19% -0.74% 2.19% -3.73% 1.95%

Category NA 9,376.12 9,297.89 9,111.31 9,184.38 8,950.40 8,862.98 8,517.62 8,414.79 8,283.79 7,970.33 7,680.70 7,737.60 7,849.93 8,252.02 8,950.40 7,680.70 473.17


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CONVENTIONAL STOCK FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Maximum Minimum Std. Dev.




Active Return / Alpha 2.69% -1.59% -0.36% -2.07% 1.17% 2.85% 0.75% 0.64% -3.11% -0.99% 1.42% -4.66% -6.86% -1.03% 2.85% -6.86% 3.23%

Corelation 0.98 0.97 0.97 0.97 1.00 1.00 1.00 0.92 0.92 0.93 0.90 0.83 0.94 1.00 0.83 0.06

Beta 0.90 0.91 0.92 0.93 0.38 0.58 0.64 0.73 0.76 0.83 0.70 0.61 0.65 0.83 0.38 0.14

R-Squared 0.96 0.95 0.95 0.94 1.00 1.00 0.99 0.85 0.84 0.87 0.81 0.69 0.88 1.00 0.69 0.11


Annualized Return (YTD) -15.10% -44.47% -4.24% 1.37% -13.18% -15.83% -4.05% 1.97% 1.75% -10.20% 1.97% -44.47% 14.74%

Annualized Return (MoM) -15.10% -74.80% 85.33% 18.24% -72.50% -30.64% 71.57% 47.78% 0.00% -15.20% 85.33% -74.80% 58.03%

Absolute Return (YTD) -1.28% -7.53% -1.07% 0.46% -5.51% -7.96% -2.38% 1.31% 1.31% -2.52% 1.31% -7.96% 3.63%

Absolute Return (MoM) 7.30% 0.51% 0.19% 1.01% -1.28% -6.34% 6.99% 1.54% -5.94% -2.59% 6.06% 3.79% 0.00% 0.15% 6.99% -6.34% 4.82%

Sum Abs. Return (MoM) 21.61% 22.12% 22.31% 23.32% -1.28% -7.61% -0.62% 0.92% -5.02% -7.61% -1.55% 2.23% 2.23% -2.03% 2.23% -7.61% 3.86%

Benchmark Return 4.61% 2.10% 0.54% 3.08% -2.45% -9.19% 6.25% 0.91% -2.83% -1.61% 4.65% 8.45% 6.86% 1.08% 8.45% -9.19% 5.78%

Risk Adjusted Return 6.13% -0.67% -0.98% -0.17% -2.45% -7.46% 5.90% 0.53% -6.97% -3.65% 5.00% 2.71% -1.09% -0.94% 5.90% -7.46% 4.82%

Coefficient of Variation 2.60 2.67 2.78 2.77 (0.94) (32.55) 24.08 (5.53) (3.95) (24.12) 18.44 19.40 (0.65) 24.08 (32.55) 20.64

Sharpe 0.20 0.18 0.16 0.15 (1.39) (0.20) (0.16) (0.38) (0.47) (0.24) (0.16) (0.17) (0.39) (0.16) (1.39) 0.42

Sortino 0.34 0.30 0.26 0.24 (1.92) (1.08) (0.36) (0.27) (0.53) (0.63) (0.38) (0.25) (0.27) (0.63) (0.25) (1.92) 0.55

Treynor 0.01 0.01 0.01 0.01 (0.13) (0.02) (0.01) (0.03) (0.03) (0.02) (0.01) (0.01) (0.03) (0.01) (0.13) 0.04

Jensen's Alpha 0.00 (0.00) (0.00) (0.00) (0.02) 0.00 0.01 (0.00) (0.00) 0.00 (0.00) (0.01) (0.00) 0.01 (0.02) 0.01

Tracking Error 0.01 0.01 0.01 0.01 1.19% 1.11% 1.03% 2.18% 2.04% 1.92% 2.52% 3.23% 1.90% 3.23% 1.03% 0.77%

Information Ratio 0.04 (0.08) (0.10) (0.22) 1.69 1.43 1.32 0.21 0.11 0.20 (0.10) (0.30) 0.57 1.69 (0.30) 0.78

VAMI 1.22 1.23 1.23 1.24 0.99 0.92 0.99 1.00 0.94 0.92 0.98 1.01 1.01 0.97 1.01 0.92 0.04


Misc. Info

Last NAVs 31.60 31.76 31.82 32.14 27.78 26.02 27.84 28.27 26.59 25.90 27.47 28.51 28.51 27.43 28.51 25.90 1.02

Payouts 4.00

Net Assets 37,030 38,020 38,020 40,464.55 36,946.75 34,653.92 37,043.85 37,498.22 35,106.15 34,359.76 36,434.73 38,299.36 40,225.11 36,729.76 40,225.11 34,359.76 1,873.05

MoM + / (-) % in NA 7.62% 2.67% 0.00% 6.43% -8.69% -6.21% 6.90% 1.23% -6.38% -2.13% 6.04% 5.12% 5.03% -0.07% 6.90% -8.69% 6.09%

Total + / (-) YTD % in NA 22.79% 26.08% 26.08% 34.18% -8.69% -14.36% -8.45% -7.33% -13.24% -15.09% -9.96% -5.35% -0.59% -9.23% -0.59% -15.09% 4.63%




Active Return / Alpha 3.59% -2.57% -0.13% -4.87% 0.93% 5.66% -2.06% -1.87% -2.12% -1.89% 2.40% -2.06% -0.89% -0.24% 5.66% -2.12% 2.72%

Corelation 0.94 0.93 0.93 0.89 1.00 0.98 0.93 0.83 0.81 0.81 0.87 0.88 0.89 1.00 0.81 0.07

Beta 0.74 0.75 0.76 0.75 0.15 0.34 0.36 0.41 0.43 0.60 0.63 0.66 0.45 0.66 0.15 0.17

R-Squared 0.89 0.87 0.87 0.80 1.00 0.96 0.87 0.69 0.65 0.66 0.75 0.78 0.80 1.00 0.65 0.13


Annualized Return (YTD) -17.92% -29.48% -4.04% -5.84% -16.30% -20.03% -6.35% 3.63% 11.36% -9.44% 11.36% -29.48% 12.69%

Annualized Return (MoM) -17.92% -41.67% 51.08% -11.31% -60.38% -41.22% 83.22% 80.66% 70.50% -1.88% 83.22% -60.38% 58.23%

Absolute Return (YTD) -1.52% -4.99% -1.02% -1.96% -6.82% -10.07% -3.73% 2.42% 8.54% -2.13% 8.54% -10.07% 5.38%

Absolute Return (MoM) 8.20% -0.47% 0.41% -1.80% -1.52% -3.53% 4.19% -0.96% -4.95% -3.49% 7.05% 6.39% 5.97% 0.91% 7.05% -4.95% 4.83%

Sum Abs. Return (MoM) 22.37% 21.90% 22.31% 20.51% -1.52% -5.05% -0.86% -1.82% -6.77% -10.26% -3.21% 3.18% 9.15% -1.90% 9.15% -10.26% 5.64%


Risk Adjusted Return 7.02% -1.65% -0.76% -2.97% -2.69% -4.65% 3.09% -1.97% -5.98% -4.55% 5.99% 5.32% 4.88% -0.17% 5.99% -5.98% 4.83%

Coefficient of Variation 2.14 2.33 2.40 2.79 (0.56) (13.96) (7.23) (2.57) (1.89) (9.68) 11.99 4.75 (2.39) 11.99 (13.96) 8.21

Sharpe 0.25 0.21 0.18 0.12 (2.58) (0.35) (0.47) (0.70) (0.86) (0.35) (0.14) (0.01) (0.68) (0.01) (2.58) 0.81

Sortino 0.50 0.41 0.36 0.24 (1.77) (1.35) (0.64) (0.79) (0.86) (0.95) (0.56) (0.27) (0.03) (0.80) (0.03) (1.77) 0.53

Treynor 0.02 0.01 0.01 0.01 (0.25) (0.04) (0.04) (0.06) (0.06) (0.03) (0.01) (0.00) (0.06) (0.00) (0.25) 0.08

Jensen's Alpha 0.00 0.00 0.00 (0.00) (0.03) (0.00) (0.01) (0.01) (0.02) (0.01) (0.00) (0.00) (0.01) (0.00) (0.03) 0.01

Tracking Error 2.01% 2.08% 1.98% 2.33% 3.34% 3.89% 3.60% 3.35% 3.11% 3.01% 2.89% 2.72% 3.24% 3.89% 2.72% 0.39%

Information Ratio 0.07 (0.06) (0.07) (0.23) 0.98 0.39 0.18 0.03 (0.07) 0.05 (0.04) (0.08) 0.18 0.98 (0.08) 0.36

VAMI 1.23 1.23 1.23 1.21 0.98 0.95 0.99 0.98 0.93 0.90 0.96 1.02 1.09 0.98 1.09 0.90 0.05


Misc. Info

Last NAVs 61.24 60.95 61.20 60.10 52.98 51.11 53.25 52.74 50.13 48.38 51.79 55.10 58.39 52.65 58.39 48.38 2.90

Payouts 6.30

Net Assets 1,360 1,290 1,280 1,243.57 1,208.98 1,038.03 1,073.17 1,030.62 951.88 941.15 989.49 1,005.95 974.00 1,023.70 1,208.98 941.15 81.36

MoM + / (-) % in NA 9.68% -5.15% -0.78% -2.85% -2.78% -14.14% 3.38% -3.96% -7.64% -1.13% 5.14% 1.66% -3.18% -2.68% 5.14% -14.14% 5.88%

Total + / (-) YTD % in NA -26.09% -29.89% -30.43% -32.41% -2.78% -16.53% -13.70% -17.12% -23.46% -24.32% -20.43% -19.11% -21.68% -17.68% -2.78% -24.32% 6.54%

FOR FY 2011-12

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FOR FY 2011-12




Active Return / Alpha 3.40% 4.48% -0.66% -5.33% 0.56% 6.23% -0.29% -0.07% -0.37% -2.56% 2.51% -2.84% -1.67% 0.13% 6.23% -2.84% 2.80%

Corelation 0.86 0.83 0.83 0.81 1.00 0.94 0.93 0.89 0.81 0.84 0.86 0.88 0.90 1.00 0.81 0.06

Beta 1.00 1.01 1.02 1.01 0.08 0.40 0.43 0.48 0.51 0.64 0.61 0.62 0.47 0.64 0.08 0.18

R-Squared 0.74 0.69 0.69 0.66 1.00 0.89 0.87 0.79 0.66 0.71 0.75 0.77 0.80 1.00 0.66 0.11


Annualized Return (YTD) -22.30% -28.25% 3.53% 5.15% -3.65% -11.20% 1.92% 10.20% 16.44% -3.13% 16.44% -28.25% 14.84%

Annualized Return (MoM) -22.30% -34.85% 72.67% 9.89% -39.07% -49.19% 84.55% 70.78% 61.37% 4.70% 84.55% -49.19% 55.15%

Absolute Return (YTD) -1.89% -4.78% 0.89% 1.73% -1.53% -5.63% 1.13% 6.80% 12.35% 1.01% 12.35% -5.63% 5.65%

Absolute Return (MoM) 8.01% 6.58% -0.11% -2.25% -1.89% -2.95% 5.96% 0.84% -3.20% -4.17% 7.16% 5.61% 5.20% 1.30% 7.16% -4.17% 4.59%

Sum Abs. Return (MoM) 8.00% 14.58% 14.47% 12.22% -1.89% -4.84% 1.12% 1.95% -1.25% -5.42% 1.75% 7.35% 12.55% 1.26% 12.55% -5.42% 5.74%


Risk Adjusted Return 6.84% 5.41% -1.29% -3.42% -3.06% -4.08% 4.86% -0.18% -4.23% -5.22% 6.10% 4.54% 4.11% 0.22% 6.10% -5.22% 4.59%

Coefficient of Variation 8.89 5.26 5.54 6.90 (0.31) 13.08 8.15 (15.29) (4.18) 18.45 5.07 3.29 3.53 18.45 (15.29) 10.46

Sharpe (0.03) 0.04 0.02 (0.02) (4.75) (0.16) (0.15) (0.35) (0.53) (0.18) (0.03) 0.07 (0.76) 0.07 (4.75) 1.62

Sortino (0.04) 0.06 0.03 (0.02) (1.62) (1.44) (0.38) (0.34) (0.62) (0.76) (0.34) (0.07) 0.15 (0.60) 0.15 (1.62) 0.59

Treynor (0.00) 0.00 0.00 (0.00) (0.45) (0.02) (0.01) (0.03) (0.04) (0.01) (0.00) 0.01 (0.07) 0.01 (0.45) 0.15

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.03) 0.00 0.00 (0.00) (0.01) 0.00 0.00 0.00 (0.00) 0.00 (0.03) 0.01

Tracking Error 4.11% 4.31% 4.09% 4.11% 4.01% 3.55% 3.10% 2.83% 2.96% 2.80% 2.91% 2.80% 3.12% 4.01% 2.80% 0.44%


VAMI 1.05 1.12 1.12 1.10 0.98 0.95 1.01 1.02 0.98 0.94 1.01 1.07 1.12 1.01 1.12 0.94 0.06

Excess Return on RFR -0.25% 0.32% 0.17% -0.13% -3.06% -3.57% -0.76% -0.61% -1.34% -1.99% -0.83% -0.16% 0.32% -1.33% 0.32% -3.57% 1.30%

Misc. Info

Last NAVs 8.90 8.90 8.89 8.69 8.13 7.89 8.36 8.43 8.16 7.82 8.38 8.85 9.31 8.37 9.31 7.82 0.47

Payouts 0.40

Net Assets 990 980 780 608.24 593.50 572.76 593.17 587.42 566.61 541.03 452.49 457.98 452.00 535.22 593.50 452.00 62.89

MoM + / (-) % in NA 5.32% -1.01% -20.41% -22.02% -2.42% -3.49% 3.56% -0.97% -3.54% -4.52% -16.37% 1.21% -1.31% -3.24% 3.56% -16.37% 5.59%

Total + / (-) YTD % in NA -60.89% -61.28% -69.18% -75.97% -2.42% -5.83% -2.48% -3.42% -6.84% -11.05% -25.61% -24.70% -25.69% -12.01% -2.42% -25.69% 10.34%





Corelation 0.47 0.47 0.46 0.46 1.00 0.94 0.91 0.80 0.71 0.76 0.82 0.84 0.85 1.00 0.71 0.10

Beta 0.55 0.55 0.55 0.55 0.05 0.30 0.32 0.37 0.39 0.58 0.59 0.63 0.40 0.63 0.05 0.19

R-Squared 0.22 0.22 0.22 0.21 1.00 0.88 0.83 0.64 0.51 0.58 0.66 0.71 0.73 1.00 0.51 0.16


Annualized Return (YTD) -20.03% -23.79% 0.42% 0.32% -10.40% -17.30% -2.89% 6.36% 14.40% -5.88% 14.40% -23.79% 12.84%


Absolute Return (YTD) -1.70% -4.03% 0.11% 0.11% -4.35% -8.70% -1.70% 4.24% 10.82% -0.58% 10.82% -8.70% 5.57%

Absolute Return (MoM) 8.15% 0.00% 0.41% -0.92% -1.70% -2.37% 4.31% 0.00% -4.45% -4.55% 7.67% 6.04% 6.31% 1.15% 7.67% -4.55% 4.85%

Sum Abs. Return (MoM) -3.41% -3.41% -3.00% -3.92% -1.70% -4.07% 0.24% 0.24% -4.21% -8.76% -1.09% 4.95% 11.26% -0.35% 11.26% -8.76% 5.76%


Risk Adjusted Return 6.97% -1.17% -0.76% -2.10% -2.87% -3.50% 3.21% -1.01% -5.48% -5.60% 6.61% 4.97% 5.22% 0.07% 6.61% -5.60% 4.85%

Coefficient of Variation (20.78) (21.77) (25.86) (20.57) (0.24) 46.09 50.18 (3.91) (2.27) (29.45) 7.72 3.88 9.00 50.18 (29.45) 26.61

Sharpe (0.19) (0.20) (0.20) (0.22) (6.66) (0.29) (0.35) (0.59) (0.77) (0.27) (0.10) 0.04 (1.12) 0.04 (6.66) 2.25

Sortino (0.24) (0.24) (0.25) (0.27) (1.69) (1.54) (0.62) (0.71) (0.81) (0.89) (0.47) (0.19) 0.07 (0.76) 0.07 (1.69) 0.57

Treynor (0.03) (0.03) (0.03) (0.03) (0.63) (0.04) (0.03) (0.05) (0.07) (0.02) (0.01) 0.00 (0.11) 0.00 (0.63) 0.21

Jensen's Alpha (0.02) (0.02) (0.02) (0.02) (0.03) (0.00) (0.00) (0.01) (0.02) (0.00) (0.00) 0.00 (0.01) 0.00 (0.03) 0.01

Tracking Error 7.33% 6.91% 6.60% 6.31% 4.29% 4.48% 3.92% 3.61% 3.54% 3.43% 3.33% 3.12% 3.72% 4.48% 3.12% 0.47%


VAMI 0.94 0.94 0.94 0.94 0.98 0.96 1.00 1.00 0.96 0.91 0.98 1.04 1.11 0.99 1.11 0.91 0.06

Excess Return on RFR -1.52% -1.48% -1.42% -1.47% -2.87% -3.18% -1.05% -1.04% -1.93% -2.54% -1.23% -0.46% 0.17% -1.57% 0.17% -3.18% 1.13%

Misc. Info

Last NAVs 9.69 9.69 9.73 9.64 9.27 9.05 9.44 9.44 9.02 8.61 9.27 9.83 10.45 9.38 10.45 8.61 0.53

Payouts 0.21

Net Assets 730.00 710.00 710.00 687.53 649.39 611.27 602.33 583.97 545.65 516.86 503.06 492.65 484.72 554.43 649.39 484.72 59.39

MoM + / (-) % in NA 4.29% -2.74% 0.00% -3.17% -5.55% -5.87% -1.46% -3.05% -6.56% -5.28% -2.67% -2.07% -1.61% -3.81% -1.46% -6.56% 2.01%

Total + / (-) YTD % in NA -58.28% -59.42% -59.42% -60.71% -5.55% -11.09% -12.39% -15.06% -20.64% -24.82% -26.83% -28.34% -29.50% -19.36% -5.55% -29.50% 8.64%

PA

KIS

TAN

PR

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UN

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FOR FY 2011-12




Active Return / Alpha 4.78% -0.77% -1.03% -5.46% 1.37% 5.09% 0.59% 1.14% -1.26% -5.18% 7.44% -0.43% -0.76% 0.83% 7.44% -5.18% 3.65%

Corelation 0.93 0.92 0.91 0.84 1.00 0.98 0.98 0.92 0.77 0.80 0.82 0.83 0.89 1.00 0.77 0.09

Beta 0.75 0.76 0.78 0.77 0.22 0.48 0.53 0.60 0.63 0.89 0.85 0.83 0.63 0.89 0.22 0.23

R-Squared 0.86 0.84 0.82 0.71 1.00 0.97 0.97 0.84 0.60 0.63 0.68 0.69 0.80 1.00 0.60 0.17


Annualized Return (YTD) -12.75% -30.29% 5.39% 10.21% -1.90% -14.97% 6.22% 17.95% 25.02% 0.54% 25.02% -30.29% 17.41%






Risk Adjusted Return 8.22% 0.16% -1.66% -3.56% -2.25% -5.22% 5.74% 1.04% -5.11% -7.84% 11.03% 6.95% 5.01% 0.85% 11.03% -7.84% 6.51%

Coefficient of Variation 1.33 1.36 1.49 1.75 (0.82) 10.19 5.03 (61.37) (4.16) 9.60 4.18 3.08 (4.28) 10.19 (61.37) 23.56

Sharpe 0.55 0.52 0.45 0.35 (1.75) (0.10) (0.04) (0.25) (0.46) (0.06) 0.08 0.16 (0.30) 0.16 (1.75) 0.62

Sortino 1.37 1.30 1.16 0.90 (2.09) (1.25) (0.24) (0.08) (0.44) (0.62) (0.11) 0.17 0.35 (0.48) 0.35 (2.09) 0.76

Treynor 0.04 0.04 0.03 0.02 (0.17) (0.01) (0.00) (0.02) (0.04) (0.00) 0.01 0.01 (0.03) 0.01 (0.17) 0.06

Jensen's Alpha 0.02 0.02 0.02 0.01 (0.02) 0.01 0.01 0.00 (0.01) 0.01 0.01 0.01 0.00 0.01 (0.02) 0.01

Tracking Error 2.26% 2.28% 2.29% 2.93% 2.63% 2.41% 2.06% 2.31% 3.39% 4.11% 3.85% 3.65% 3.05% 4.11% 2.06% 0.79%


VAMI 1.42 1.44 1.43 1.40 0.99 0.95 1.01 1.03 0.99 0.92 1.04 1.12 1.19 1.03 1.19 0.92 0.08

Excess Return on RFR 2.99% 2.71% 2.31% 1.82% -2.25% -3.74% -0.58% -0.17% -1.16% -2.28% -0.37% 0.54% 1.04% -1.00% 1.04% -3.74% 1.52%

Misc. Info

Last NAVs 451.34 457.34 455.11 444.26 330.65 317.11 338.79 345.73 331.60 309.11 346.48 374.26 397.09 343.42 397.09 309.11 27.48

Payouts 110.00

Net Assets 687 686 672 650.26 603.34 625.07 629.40 645.69 628.77 577.48 630.64 667.74 679.46 631.95 679.46 577.48 30.78

MoM + / (-) % in NA 9.05% -0.15% -2.04% -3.24% -7.22% 3.60% 0.69% 2.59% -2.62% -8.16% 9.21% 5.88% 1.75% 0.49% 9.21% -8.16% 5.75%

Total + / (-) YTD % in NA 6.51% 6.36% 4.19% 0.82% -7.22% -3.87% -3.21% -0.70% -3.30% -11.19% -3.02% 2.69% 4.49% -2.82% 4.49% -11.19% 4.73%




Active Return / Alpha -0.27% -3.38% -0.22% -2.91% -0.30% 1.29% -1.64% -2.16% 1.50% -0.68% -0.18% 6.11% 9.10% 1.39% 9.10% -2.16% 3.76%

Corelation 0.90 0.88 0.88 0.87 1.00 1.00 0.99 0.97 0.97 0.97 0.93 0.91 0.97 1.00 0.91 0.03

Beta 0.63 0.64 0.65 0.65 0.38 0.54 0.59 0.61 0.64 0.70 0.96 1.12 0.69 1.12 0.38 0.24

R-Squared 0.81 0.77 0.77 0.75 1.00 1.00 0.98 0.95 0.95 0.95 0.86 0.82 0.94 1.00 0.82 0.07





Absolute Return (MoM) 4.34% -1.28% 0.32% 0.16% -2.74% -7.90% 4.60% -1.25% -1.33% -2.28% 4.46% 14.56% 15.96% 2.40% 15.96% -7.90% 8.08%





Sharpe 0.23 0.16 0.13 0.11 (1.77) (0.50) (0.57) (0.63) (0.73) (0.46) (0.01) 0.20 (0.56) 0.20 (1.77) 0.59

Sortino 0.43 0.30 0.25 0.20 (1.43) (1.09) (0.65) (0.69) (0.73) (0.80) (0.60) (0.02) 0.54 (0.61) 0.54 (1.43) 0.57

Treynor 0.02 0.01 0.01 0.01 (0.17) (0.06) (0.05) (0.05) (0.05) (0.03) (0.00) 0.01 (0.05) 0.01 (0.17) 0.06

Jensen's Alpha 0.00 (0.00) (0.00) (0.00) (0.04) (0.02) (0.02) (0.01) (0.01) (0.01) 0.00 0.01 (0.01) 0.01 (0.04) 0.02

Tracking Error 2.72% 2.76% 2.62% 2.60% 1.12% 1.47% 1.54% 1.66% 1.50% 1.37% 2.60% 3.76% 1.88% 3.76% 1.12% 0.88%

Information Ratio (0.05) (0.17) (0.17) (0.25) 0.44 (0.15) (0.46) (0.16) (0.22) (0.23) 0.19 0.39 (0.02) 0.44 (0.46) 0.32

VAMI 1.21 1.19 1.19 1.20 0.97 0.90 0.94 0.93 0.91 0.89 0.93 1.07 1.24 0.97 1.24 0.89 0.11

Excess Return on RFR 1.07% 0.72% 0.58% 0.44% -3.91% -6.47% -3.15% -2.93% -2.81% -2.90% -2.00% -0.06% 1.59% -2.52% 1.59% -6.47% 2.28%

Misc. Info

Last NAVs 31.2500 30.8500 30.9500 31.0000 30.1500 27.7685 29.0462 28.6818 28.3000 27.6534 28.8877 33.0924 38.3747 30.22 38.37 27.65 3.47

Payouts

Net Assets 511.80 491.90 453.61 458.98 440.45 367.11 388.13 384.30 376.15 347.92 369.61 435.13 522.17 403.44 522.17 347.92 54.04

MoM + / (-) % in NA 19.40% -3.89% -7.78% 1.18% -4.04% -16.65% 5.73% -0.98% -2.12% -7.51% 6.23% 17.73% 20.00% 1.44% 20.00% -16.65% 11.75%

Total + / (-) YTD % in NA 6.90% 2.74% -5.26% -4.13% -4.04% -20.02% -15.44% -16.27% -18.05% -24.20% -19.47% -5.20% 13.77% -12.10% 13.77% -24.20% 11.77%

ATL

AS

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FOR FY 2011-12




Active Return / Alpha 4.45% (0.01) (0.02) (0.05) 1.41% 4.49% -0.70% 1.02% -1.07% -4.33% 4.50% -0.42% -0.49% 0.45% 4.50% -4.33% 2.79%

Corelation 0.98 0.97 0.96 0.92 1.00 1.00 0.99 0.94 0.83 0.84 0.87 0.88 0.92 1.00 0.83 0.07

Beta 0.90 0.91 0.94 0.93 0.27 0.45 0.51 0.58 0.61 0.79 0.79 0.79 0.60 0.79 0.27 0.19

R-Squared 0.96 0.94 0.92 0.84 1.00 0.99 0.99 0.89 0.68 0.71 0.76 0.77 0.85 1.00 0.68 0.13


Annualized Return (YTD) -12.28% -33.59% -1.84% 8.68% -2.63% -13.44% 3.29% 14.34% 20.61% -1.87% 20.61% -33.59% 16.41%


Absolute Return (YTD) -1.04% -5.69% -0.46% 2.92% -1.10% -6.76% 1.94% 9.56% 15.48% 1.65% 15.48% -6.76% 7.07%


Sum Abs. Return (MoM) 34.41% 35.54% 34.17% 32.61% -1.04% -5.74% -0.20% 3.20% -0.70% -6.43% 2.90% 10.38% 15.78% 2.02% 15.78% -6.43% 7.20%


Risk Adjusted Return 7.88% -0.04% -2.54% -2.74% -2.21% -5.82% 4.44% 2.38% -4.93% -6.78% 8.27% 6.41% 4.31% 0.53% 8.27% -6.78% 5.68%

Coefficient of Variation 1.63 1.67 1.88 2.10 (0.90) (79.62) 5.72 (31.98) (4.31) 13.91 4.54 3.24 (11.18) 13.91 (79.62) 30.80

Sharpe 0.43 0.41 0.34 0.27 (1.55) (0.23) (0.07) (0.27) (0.47) (0.12) 0.04 0.12 (0.32) 0.12 (1.55) 0.53

Sortino 0.89 0.84 0.71 0.58 (2.13) (1.18) (0.43) (0.13) (0.44) (0.63) (0.21) 0.07 0.24 (0.54) 0.24 (2.13) 0.73

Treynor 0.03 0.03 0.02 0.02 (0.15) (0.03) (0.01) (0.02) (0.04) (0.01) 0.00 0.01 (0.03) 0.01 (0.15) 0.05

Jensen's Alpha 0.02 0.01 0.01 0.01 (0.02) 0.00 0.01 0.00 (0.01) 0.00 0.01 0.01 (0.00) 0.01 (0.02) 0.01

Tracking Error 1.29% 1.44% 1.66% 2.26% 2.18% 2.61% 2.16% 2.21% 2.95% 3.16% 2.95% 2.79% 2.63% 3.16% 2.16% 0.40%


VAMI 1.38 1.40 1.38 1.36 0.99 0.94 1.00 1.03 0.99 0.93 1.02 1.10 1.15 1.02 1.15 0.93 0.07


Misc. Info

Last NAVs 44.08 44.58 43.97 43.28 34.26 32.65 34.46 35.63 34.24 32.28 35.29 37.93 39.98 35.19 39.98 32.28 2.45

Payouts 8.66

Net Assets 1,315 1,299 1,341 1,293.28 1,256.75 1,221.62 1,256.04 1,477.56 1,397.41 1,177.05 1,323.38 1,774.60 1,550.76 1,381.69 1,774.60 1,177.05 191.93

MoM + / (-) % in NA 12.01% -1.22% 3.23% -3.56% -2.82% -2.80% 2.82% 17.64% -5.42% -15.77% 12.43% 34.10% -12.61% 2.04% 34.10% -15.77% 15.83%

Total + / (-) YTD % in NA 26.20% 24.66% 28.69% 24.12% -2.82% -5.54% -2.88% 14.25% 8.05% -8.99% 2.33% 37.22% 19.91% 6.84% 37.22% -8.99% 14.84%




Active Return / Alpha 1.60% -0.51% -1.26% 0.36% -0.61% 4.46% -1.30% 1.68% 0.03% 1.19% -1.22% 1.84% 8.20% 1.55% 8.20% -1.30% 3.08%

Corelation 0.99 0.98 0.97 0.97 1.00 0.98 0.96 0.94 0.95 0.97 0.96 0.87 0.95 1.00 0.87 0.04

Beta 0.74 0.75 0.77 0.78 0.20 0.41 0.46 0.53 0.58 0.65 0.71 0.75 0.54 0.75 0.20 0.18

R-Squared 0.97 0.96 0.95 0.95 1.00 0.95 0.93 0.88 0.89 0.94 0.93 0.76 0.91 1.00 0.76 0.07


Annualized Return (YTD) -9.87% -30.17% -1.07% 4.79% -5.65% -13.56% 1.94% 14.46% 27.34% -1.31% 27.34% -30.17% 16.55%


Absolute Return (YTD) -0.84% -5.11% -0.27% 1.61% -2.36% -6.82% 1.14% 9.64% 20.54% 1.95% 20.54% -6.82% 8.39%



Benchmark Return 5.67% 1.34% 0.40% -1.50% -0.23% -8.77% 6.40% 0.20% -3.94% -5.75% 9.76% 6.56% 1.75% 0.50% 9.76% -8.77% 6.17%


Coefficient of Variation 1.77 1.81 2.00 2.22 (0.95) (324.17) 8.71 (9.61) (3.56) 18.80 4.30 2.64 (37.98) 18.80 (324.17) 115.95

Sharpe 0.36 0.33 0.27 0.22 (1.51) (0.24) (0.16) (0.38) (0.56) (0.16) 0.04 0.20 (0.35) 0.20 (1.51) 0.53

Sortino 0.73 0.68 0.57 0.46 (2.40) (1.20) (0.45) (0.29) (0.57) (0.72) (0.29) 0.08 0.47 (0.60) 0.47 (2.40) 0.83

Treynor 0.03 0.02 0.02 0.01 (0.18) (0.03) (0.01) (0.03) (0.04) (0.01) 0.00 0.02 (0.04) 0.02 (0.18) 0.06

Jensen's Alpha 0.01 0.01 0.01 0.01 (0.03) (0.00) 0.00 (0.00) (0.00) 0.00 0.01 0.01 (0.00) 0.01 (0.03) 0.01

Tracking Error 1.45% 1.44% 1.49% 1.42% 3.59% 3.15% 2.60% 2.30% 2.06% 2.05% 1.94% 3.08% 2.59% 3.59% 1.94% 0.61%


VAMI 1.30 1.31 1.30 1.28 0.99 0.95 1.00 1.02 0.98 0.93 1.01 1.10 1.21 1.02 1.21 0.93 0.08


Misc. Info

Last NAVs 7.8162 7.6960 7.6297 7.5427 6.4551 6.1768 6.4920 6.6142 6.3558 6.0657 6.5837 7.1371 7.8467 6.64 7.85 6.07 0.55

Payouts 0.1850 1.0332

Net Assets 990 979 967 926.80 891.82 800.03 894.40 1,060.89 1,051.00 836.74 1,012.32 1,075.36 1,101.17 969.30 1,101.17 800.03 113.68

MoM + / (-) % in NA 11.24% -1.11% -1.23% -4.16% -3.77% -10.29% 11.80% 18.62% -0.93% -20.39% 20.98% 6.23% 2.40% 1.93% 20.98% -20.39% 13.41%

Total + / (-) YTD % in NA 3.23% 2.09% 0.83% -3.36% -3.77% -13.68% -3.50% 14.47% 13.40% -9.72% 9.23% 16.03% 18.81% 4.59% 18.81% -13.68% 12.27%

UN

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FOR FY 2011-12




Active Return / Alpha 1.60% -0.13% -1.03% 1.17% -0.31% 5.61% -0.51% 0.90% 0.37% 0.83% -1.69% -0.72% 4.99% 1.02% 5.61% -1.69% 2.54%

Corelation 0.98 0.98 0.97 0.97 1.00 0.95 0.95 0.92 0.92 0.96 0.96 0.92 0.95 1.00 0.92 0.03

Beta 0.70 0.71 0.73 0.74 0.15 0.39 0.44 0.51 0.57 0.62 0.64 0.66 0.50 0.66 0.15 0.17

R-Squared 0.97 0.96 0.94 0.94 1.00 0.91 0.91 0.85 0.85 0.92 0.93 0.84 0.90 1.00 0.84 0.05









Coefficient of Variation 1.60 1.62 1.77 1.90 (1.01) 6.37 4.63 (67.98) (4.57) 12.06 4.56 2.92 (5.38) 12.06 (67.98) 25.77

Sharpe 0.41 0.39 0.33 0.28 (1.61) (0.09) (0.07) (0.30) (0.49) (0.14) 0.00 0.13 (0.32) 0.13 (1.61) 0.55

Sortino 0.87 0.83 0.71 0.62 (1.32) (0.22) (0.17) (0.53) (0.69) (0.26) 0.00 0.28 (0.36) 0.28 (1.32) 0.49

Treynor 0.03 0.03 0.02 0.02 (0.19) (0.01) (0.01) (0.02) (0.03) (0.01) 0.00 0.01 (0.03) 0.01 (0.19) 0.07

Jensen's Alpha 0.01 0.01 0.01 0.01 (0.02) 0.00 0.00 0.00 (0.00) 0.00 0.00 0.01 0.00 0.01 (0.02) 0.01

Tracking Error 1.67% 1.62% 1.64% 1.57% 4.18% 3.48% 2.86% 2.52% 2.26% 2.33% 2.21% 2.54% 2.80% 4.18% 2.21% 0.70%


VAMI 1.32 1.34 1.33 1.32 0.99 0.96 1.02 1.03 0.99 0.95 1.02 1.08 1.15 1.02 1.15 0.95 0.06


Misc. Info

Last NAVs 102.9605 104.2084 103.5493 103.2059 82.2647 79.6636 84.3523 85.2779 82.2337 78.1886 84.5022 89.4420 95.4627 84.60 95.46 78.19 5.23

Payouts 20.5000

Net Assets 645 646 674 692.87 641.28 622.02 636.04 714.17 693.73 690.68 750.50 796.41 622.08 685.21 796.41 622.02 61.13

MoM + / (-) % in NA 7.14% 0.16% 4.33% 2.80% -7.45% -3.00% 2.25% 12.28% -2.86% -0.44% 8.66% 6.12% -21.89% -1.19% 12.28% -21.89% 10.10%

Total + / (-) YTD % in NA -0.92% -0.77% 3.53% 6.43% -7.45% -10.23% -8.20% 3.07% 0.12% -0.32% 8.32% 14.94% -10.22% -1.11% 14.94% -10.23% 8.82%




Active Return / Alpha 0.19% -1.21% -0.40% -2.90% -2.01% 4.70% -2.28% -0.39% 0.75% 0.93% -2.21% -0.36% 0.44% -0.07% 4.70% -2.28% 2.18%

Corelation 0.83 0.83 0.83 0.84 1.00 0.93 0.93 0.93 0.93 0.96 0.96 0.96 0.95 1.00 0.93 0.02

Beta 0.76 0.77 0.78 0.82 0.11 0.35 0.39 0.43 0.48 0.58 0.62 0.64 0.45 0.64 0.11 0.17

R-Squared 0.69 0.69 0.69 0.70 1.00 0.86 0.86 0.87 0.87 0.92 0.92 0.92 0.90 1.00 0.86 0.05





Absolute Return (MoM) 5.87% 0.13% 0.00% -4.39% -2.24% -4.07% 4.12% -0.19% -3.19% -4.82% 7.56% 6.20% 2.18% 0.52% 7.56% -4.82% 4.60%





Sharpe 0.20 0.17 0.15 0.06 (3.32) (0.43) (0.48) (0.67) (0.86) (0.32) (0.13) (0.10) (0.79) (0.10) (3.32) 1.05

Sortino 0.44 0.38 0.32 0.12 (1.52) (1.31) (0.69) (0.73) (0.87) (0.93) (0.53) (0.25) (0.19) (0.78) (0.19) (1.52) 0.44

Treynor 0.02 0.01 0.01 0.00 (0.40) (0.05) (0.04) (0.05) (0.06) (0.03) (0.01) (0.01) (0.08) (0.01) (0.40) 0.13

Jensen's Alpha 0.01 0.00 0.00 (0.00) (0.04) (0.01) (0.01) (0.01) (0.01) (0.01) (0.00) (0.00) (0.01) (0.00) (0.04) 0.01

Tracking Error 3.80% 3.61% 3.43% 3.38% 4.75% 3.95% 3.24% 2.82% 2.55% 2.51% 2.32% 2.18% 3.04% 4.75% 2.18% 0.90%

Information Ratio 0.06 0.03 0.02 (0.06) 0.28 0.03 0.00 0.05 0.11 (0.03) (0.05) (0.02) 0.05 0.28 (0.05) 0.11

VAMI 1.23 1.23 1.23 1.17 0.98 0.94 0.98 0.97 0.94 0.90 0.97 1.03 1.05 0.97 1.05 0.90 0.05


Misc. Info

Last NAVs 30.68 30.72 30.72 29.37 25.78 24.73 25.75 25.70 24.88 23.68 25.47 27.05 27.64 25.63 27.64 23.68 1.19

Payouts 3.00

Net Assets 206 206 131 147.86 121.45 116.40 121.28 121.00 117.16 111.47 119.61 125.24 126.30 119.99 126.30 111.47 4.55

MoM + / (-) % in NA 0.98% 0.00% -36.41% 12.87% -17.86% -4.16% 4.19% -0.23% -3.18% -4.85% 7.30% 4.70% 0.85% -1.74% 7.30% -17.86% 7.45%

Total + / (-) YTD % in NA -5.50% -5.50% -39.91% -32.17% -17.86% -21.28% -17.98% -18.17% -20.77% -24.61% -19.11% -15.30% -14.58% -18.85% -14.58% -24.61% 3.08%

MC

B D

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FOR FY 2011-12





Corelation 0.96 0.94 0.93 0.88 1.00 1.00 0.93 0.82 0.68 0.73 0.79 0.76 0.84 1.00 0.68 0.12

Beta 0.70 0.71 0.73 0.73 0.18 0.27 0.28 0.33 0.34 0.53 0.53 0.49 0.37 0.53 0.18 0.13

R-Squared 0.92 0.89 0.87 0.78 1.00 1.00 0.86 0.68 0.46 0.54 0.62 0.58 0.72 1.00 0.46 0.21


Annualized Return (YTD) 4.11% -10.49% 9.15% 6.62% -2.23% -10.63% 3.77% 12.04% 13.68% 2.89% 13.68% -10.63% 8.97%

Annualized Return (MoM) 4.11% -25.00% 50.63% -0.86% -37.68% -52.58% 94.25% 71.82% 24.59% 4.08% 94.25% -52.58% 50.22%

Absolute Return (YTD) 0.35% -1.78% 2.30% 2.22% -0.93% -5.34% 2.21% 8.03% 10.28% 1.93% 10.28% -5.34% 4.80%

Absolute Return (MoM) 6.74% 0.24% -1.26% -2.00% 0.35% -2.12% 4.15% -0.07% -3.09% -4.45% 7.98% 5.69% 2.08% 1.09% 7.98% -4.45% 4.17%

Sum Abs. Return (MoM) 27.11% 27.35% 26.09% 24.09% 0.35% -1.77% 2.38% 2.31% -0.78% -5.23% 2.75% 8.44% 10.52% 2.11% 10.52% -5.23% 4.90%




Sharpe 0.38 0.33 0.26 0.19 (1.17) (0.11) (0.20) (0.44) (0.64) (0.16) (0.01) 0.02 (0.34) 0.02 (1.17) 0.40

Sortino 0.81 0.72 0.57 0.40 (2.37) (1.34) (0.27) (0.49) (0.74) (0.82) (0.31) (0.01) 0.05 (0.70) 0.05 (2.37) 0.76

Treynor 0.03 0.02 0.02 0.01 (0.11) (0.01) (0.02) (0.04) (0.06) (0.01) (0.00) 0.00 (0.03) 0.00 (0.11) 0.04

Jensen's Alpha 0.01 0.01 0.00 0.00 (0.01) 0.00 0.00 (0.00) (0.01) 0.00 0.00 0.00 (0.00) 0.00 (0.01) 0.01

Tracking Error 1.90% 1.96% 1.98% 2.43% 3.02% 4.58% 4.15% 3.70% 3.72% 3.54% 3.54% 3.76% 3.75% 4.58% 3.02% 0.46%

Information Ratio 0.35 0.21 0.11 (0.10) 1.63 0.56 0.41 0.35 0.17 0.28 0.15 (0.02) 0.44 1.63 (0.02) 0.51

VAMI 1.29 1.30 1.28 1.25 1.00 0.98 1.02 1.02 0.99 0.95 1.02 1.08 1.10 1.02 1.10 0.95 0.05


Misc. Info

Last NAVs 102.03 102.27 100.98 98.96 80.74 79.03 82.31 82.25 79.71 76.16 82.24 86.92 88.73 82.01 88.73 76.16 3.86

Payouts 18.50

Net Assets 194.78 194.14 189.87 162.24 151.00 149.28 155.48 155.60 144.90 137.79 147.90 156.26 159.29 150.83 159.29 137.79 6.72

MoM + / (-) % in NA 6.62% -0.33% -2.20% -14.55% -6.93% -1.14% 4.15% 0.08% -6.88% -4.91% 7.34% 5.66% 1.93% -0.20% 7.34% -6.93% 5.33%

Total + / (-) YTD % in NA -11.08% -11.37% -13.32% -25.93% -6.93% -7.99% -4.17% -4.09% -10.69% -15.07% -8.84% -3.69% -1.82% -7.03% -1.82% -15.07% 4.14%




Active Return / Alpha 3.57% -1.02% -0.54% -4.94% 1.85% 5.82% -0.70% -0.64% -0.32% -4.00% 4.11% -2.23% -2.18% 0.15% 5.82% -4.00% 3.17%

Corelation 0.95 0.95 0.94 0.89 1.00 0.99 0.96 0.91 0.76 0.79 0.83 0.84 0.89 1.00 0.76 0.09

Beta 0.71 0.72 0.74 0.73 0.21 0.39 0.42 0.47 0.49 0.68 0.66 0.65 0.49 0.68 0.21 0.16

R-Squared 0.91 0.90 0.89 0.80 1.00 0.98 0.92 0.83 0.58 0.63 0.69 0.70 0.79 1.00 0.58 0.16










Sharpe 0.37 0.35 0.30 0.23 (1.60) (0.13) (0.17) (0.37) (0.57) (0.16) (0.01) 0.07 (0.37) 0.07 (1.60) 0.54

Sortino 0.77 0.72 0.64 0.48 (2.97) (1.29) (0.31) (0.37) (0.65) (0.75) (0.30) (0.03) 0.14 (0.72) 0.14 (2.97) 0.94

Treynor 0.03 0.02 0.02 0.01 (0.15) (0.02) (0.02) (0.03) (0.05) (0.01) (0.00) 0.01 (0.03) 0.01 (0.15) 0.05

Jensen's Alpha 0.01 0.01 0.01 0.00 (0.02) 0.01 0.00 (0.00) (0.01) 0.00 0.00 0.00 (0.00) 0.01 (0.02) 0.01

Tracking Error 1.96% 1.92% 1.85% 2.34% 2.81% 3.28% 3.06% 2.79% 3.28% 3.31% 3.26% 3.17% 3.12% 3.31% 2.79% 0.21%


VAMI 1.29 1.31 1.31 1.28 0.99 0.96 1.01 1.02 0.98 0.93 1.01 1.07 1.12 1.01 1.12 0.93 0.06


Misc. Info

Last NAVs 104.7435 105.8714 105.8714 103.9008 93.1925 90.0561 95.0541 95.3090 92.3091 87.1303 94.7621 100.6494 105.3680 94.87 105.37 87.13 5.43

Payouts 10.1500

Net Assets 2,030 2,020 2,020 1,986.28 1,975.17 1,908.65 2,013.59 2,019.19 1,955.44 1,845.92 2,007.97 2,131.90 2,210.12 2,007.55 2,210.12 1,845.92 109.74

MoM + / (-) % in NA 7.98% -0.49% 0.00% -1.67% -0.56% -3.37% 5.50% 0.28% -3.16% -5.60% 8.78% 6.17% 3.67% 1.19% 8.78% -5.60% 4.96%

Total + / (-) YTD % in NA 27.75% 27.12% 27.12% 25.00% -0.56% -3.91% 1.38% 1.66% -1.55% -7.07% 1.09% 7.33% 11.27% 1.07% 11.27% -7.07% 5.52%

HB

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FOR FY 2011-12




Active Return / Alpha 4.86% -0.72% -1.38% -3.13% 4.24% 0.33% 1.12% -0.51% -0.09% -2.03% 4.21% -1.26% -2.79% 0.33% 4.24% -2.79% 2.49%

Corelation 0.90 0.90 0.89 0.87 1.00 0.97 0.95 0.95 0.92 0.93 0.93 0.91 0.95 1.00 0.91 0.03

Beta 0.71 0.72 0.74 0.73 0.79 0.69 0.74 0.81 0.84 0.97 0.88 0.83 0.82 0.97 0.69 0.09

R-Squared 0.81 0.80 0.79 0.76 1.00 0.94 0.91 0.90 0.85 0.87 0.86 0.83 0.89 1.00 0.83 0.06


Annualized Return (YTD) 21.21% -42.60% -1.51% 0.05% -6.94% -12.78% 3.17% 13.77% 18.14% -0.83% 21.21% -42.60% 19.37%

Annualized Return (MoM) 21.21% -104.54% 89.90% 4.70% -35.60% -42.87% 104.62% 90.64% 48.09% #NUM! 104.62% -104.54% 71.25%

Absolute Return (YTD) 1.80% -7.22% -0.38% 0.02% -2.90% -6.43% 1.86% 9.18% 13.63% 1.06% 13.63% -7.22% 6.79%

Absolute Return (MoM) 9.47% 1.38% -0.83% -0.05% 1.80% -8.85% 7.37% 0.40% -2.92% -3.63% 8.86% 7.18% 4.07% 1.43% 8.86% -8.85% 5.94%



Risk Adjusted Return 8.30% 0.20% -2.01% -1.22% 0.62% -9.98% 6.27% -0.61% -3.94% -4.69% 7.80% 6.11% 2.98% 0.35% 7.80% -9.98% 5.94%


Sharpe 0.36 0.35 0.29 0.25 (0.62) (0.12) (0.14) (0.26) (0.37) (0.10) 0.03 0.09 (0.19) 0.09 (0.62) 0.23

Sortino 0.85 0.82 0.69 0.60 (0.75) (0.20) (0.21) (0.37) (0.50) (0.17) 0.06 0.15 (0.25) 0.15 (0.75) 0.29

Treynor 0.03 0.02 0.02 0.02 (0.06) (0.01) (0.01) (0.02) (0.02) (0.01) 0.00 0.01 (0.02) 0.01 (0.06) 0.02

Jensen's Alpha 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.00 0.01 0.01 0.00 0.01 0.01 0.00 0.00

Tracking Error 2.63% 2.52% 2.47% 2.56% 2.77% 2.07% 2.07% 1.90% 2.11% 2.38% 2.35% 2.49% 2.27% 2.77% 1.90% 0.28%


VAMI 1.30 1.31 1.30 1.30 1.02 0.93 1.00 1.00 0.97 0.94 1.02 1.09 1.14 1.01 1.14 0.93 0.07

Excess Return on RFR 1.92% 1.75% 1.41% 1.19% 0.62% -4.68% -1.03% -0.93% -1.53% -2.06% -0.65% 0.20% 0.51% -1.06% 0.62% -4.68% 1.63%

Misc. Info

Last NAVs 131.0811 132.8838 131.7755 131.7106 109.0623 99.4054 106.7301 107.1553 104.0289 100.2517 109.1349 116.9728 121.7374 108.28 121.74 99.41 7.27

Payouts 24.5731

Net Assets 309 352 358 282.39 223.63 222.20 222.89 315.94 308.58 281.86 344.73 310.00 270.00 277.76 344.73 222.20 46.15

MoM + / (-) % in NA 0.00% 13.92% 1.70% -21.12% -20.81% -0.64% 0.31% 41.75% -2.33% -8.66% 22.31% -10.07% -12.90% -0.50% 41.75% -20.81% 19.41%

Total + / (-) YTD % in NA -27.65% -17.58% -16.17% -33.88% -20.81% -21.32% -21.07% 11.88% 9.27% -0.19% 22.08% 9.78% -4.39% -1.64% 22.08% -21.32% 16.34%




Active Return / Alpha 0.40% -2.12% -1.13% -5.78% 1.41% 3.95% 0.26% 0.51% -0.23% -4.55% 3.84% -3.41% -3.12% -0.19% 3.95% -4.55% 3.06%

Corelation 0.98 0.97 0.97 0.91 1.00 1.00 0.99 0.97 0.84 0.86 0.86 0.85 0.92 1.00 0.84 0.07

Beta 0.69 0.70 0.71 0.70 0.31 0.51 0.57 0.62 0.65 0.81 0.72 0.69 0.61 0.81 0.31 0.15

R-Squared 0.96 0.94 0.93 0.82 1.00 0.99 0.99 0.94 0.71 0.74 0.73 0.72 0.85 1.00 0.71 0.14




Absolute Return (YTD) -1.03% -6.21% -0.11% 1.30% -1.79% -7.84% -0.02% 5.02% 8.95% -0.19% 8.95% -7.84% 5.14%

Absolute Return (MoM) 5.01% -0.02% -0.59% -2.71% -1.03% -5.23% 6.51% 1.41% -3.06% -6.16% 8.49% 5.04% 3.74% 0.96% 8.49% -6.16% 5.26%



Risk Adjusted Return 3.84% -1.19% -1.76% -3.88% -2.20% -6.36% 5.41% 0.40% -4.08% -7.22% 7.43% 3.97% 2.65% -0.12% 7.43% -7.22% 5.26%


Sharpe 0.23 0.19 0.14 0.05 (1.44) (0.18) (0.14) (0.30) (0.50) (0.17) (0.06) (0.00) (0.35) (0.00) (1.44) 0.47

Sortino 0.41 0.34 0.26 0.10 (2.14) (1.14) (0.34) (0.26) (0.50) (0.66) (0.29) (0.11) (0.00) (0.60) (0.00) (2.14) 0.67

Treynor 0.02 0.01 0.01 0.00 (0.14) (0.02) (0.01) (0.02) (0.04) (0.01) (0.00) (0.00) (0.03) (0.00) (0.14) 0.04

Jensen's Alpha 0.00 0.00 (0.00) (0.01) (0.02) 0.00 0.01 0.00 (0.01) 0.00 0.00 (0.00) (0.00) 0.01 (0.02) 0.01

Tracking Error 1.69% 1.71% 1.64% 2.21% 1.79% 1.89% 1.69% 1.66% 2.77% 2.88% 3.04% 3.06% 2.35% 3.06% 1.66% 0.64%

Information Ratio (0.08) (0.19) (0.25) (0.39) 1.49 0.99 0.91 0.71 0.08 0.26 0.07 (0.05) 0.56 1.49 (0.05) 0.55

VAMI 1.21 1.21 1.20 1.17 0.99 0.94 1.00 1.01 0.98 0.92 1.00 1.05 1.09 1.00 1.09 0.92 0.05


Misc. Info

Last NAVs 64.33 64.32 63.94 62.21 54.64 51.78 55.15 55.93 54.22 50.88 55.20 57.98 60.15 55.10 60.15 50.88 2.84

Payouts 7.00

Net Assets 155.29 155.28 131.57 128.00 113.60 107.64 114.65 116.27 112.72 105.79 113.34 119.04 123.23 114.03 123.23 105.79 5.32

MoM + / (-) % in NA 5.00% -0.01% -15.27% -2.71% -11.25% -5.24% 6.51% 1.42% -3.05% -6.15% 7.14% 5.03% 3.52% -0.42% 7.14% -11.25% 6.46%

Total + / (-) YTD % in NA -16.34% -16.35% -29.12% -31.04% -11.25% -15.90% -10.43% -9.16% -11.94% -17.35% -11.45% -7.00% -3.73% -10.91% -3.73% -17.35% 4.15%

ALF

ALA

H G

HP

ALP

HA

FU

ND

IGI S

TOC

K F

UN

DIG

I STO

CK

FU

ND

A

LFA

LAH

GH

P A

LPH

A F

UN

D




FOR FY 2011-12




Active Return / Alpha 2.31% -0.65% -1.25% 1.21% 0.23% 4.09% -0.27% 4.09% 0.48% 0.63% 0.22% 2.64% 5.00% 1.88% 5.00% -0.27% 2.05%

Corelation 0.99 0.98 0.98 0.98 1.00 0.99 0.94 0.93 0.93 0.96 0.96 0.94 0.96 1.00 0.93 0.03

Beta 0.75 0.76 0.78 0.79 0.27 0.47 0.54 0.62 0.69 0.74 0.79 0.81 0.62 0.81 0.27 0.18

R-Squared 0.98 0.97 0.95 0.95 1.00 0.98 0.88 0.86 0.86 0.92 0.92 0.89 0.91 1.00 0.86 0.05


Annualized Return (YTD) -0.01% -27.68% 4.58% 16.34% 4.41% -6.72% 10.67% 24.08% 31.79% 6.38% 31.79% -27.68% 17.52%


Absolute Return (YTD) 0.00% -4.69% 1.15% 5.49% 1.84% -3.38% 6.27% 16.05% 23.88% 5.18% 23.88% -4.69% 9.32%


Sum Abs. Return (MoM) 27.93% 28.62% 27.77% 27.48% 0.00% -4.69% 1.44% 5.73% 2.27% -2.85% 7.13% 16.33% 23.08% 5.38% 23.08% -4.69% 9.08%



Coefficient of Variation 1.79 1.85 2.03 2.17 (1.41) 11.31 3.37 10.38 (10.07) 5.79 3.03 2.34 3.09 11.31 (10.07) 6.78

Sharpe 0.35 0.33 0.27 0.23 (1.05) (0.12) 0.07 (0.13) (0.33) (0.01) 0.16 0.25 (0.15) 0.25 (1.05) 0.41

Sortino 0.72 0.66 0.56 0.48 (1.05) (0.24) 0.14 (0.24) (0.49) (0.02) 0.35 0.57 (0.12) 0.57 (1.05) 0.51

Treynor 0.03 0.02 0.02 0.01 (0.13) (0.01) 0.01 (0.01) (0.02) (0.00) 0.01 0.02 (0.02) 0.02 (0.13) 0.05

Jensen's Alpha 0.01 0.01 0.01 0.01 (0.02) 0.00 0.01 0.01 0.01 0.01 0.01 0.02 0.01 0.02 (0.02) 0.01

Tracking Error 1.30% 1.31% 1.38% 1.33% 2.73% 2.39% 2.38% 2.18% 2.00% 1.89% 1.81% 2.05% 2.18% 2.73% 1.81% 0.31%


VAMI 1.30 1.31 1.30 1.30 1.00 0.95 1.01 1.05 1.02 0.97 1.06 1.16 1.24 1.05 1.24 0.95 0.09

Excess Return on RFR 1.97% 1.72% 1.38% 1.14% -1.17% -3.49% -0.65% 0.33% -0.63% -1.56% -0.06% 0.96% 1.49% -0.53% 1.49% -3.49% 1.48%

Misc. Info

Last NAVs 13.0276 13.1174 13.0059 10.0408 10.0407 9.5700 10.1564 10.5923 10.2259 9.7017 10.6703 11.6525 12.4390 10.56 12.44 9.57 0.94

Payouts 2.9280

Net Assets 493.49 506.43 574.42 642.03 666.50 634.17 385.26 427.49 411.80 293.65 308.56 306.99 198.38 403.65 666.50 198.38 156.46

MoM + / (-) % in NA 8.25% 2.62% 13.43% 11.77% 3.81% -4.85% -39.25% 10.96% -3.67% -28.69% 5.08% -0.51% -35.38% -12.23% 10.96% -39.25% 18.92%

Total + / (-) YTD % in NA 31.19% 34.63% 52.71% 70.68% 3.81% -1.22% -39.99% -33.42% -35.86% -54.26% -51.94% -52.18% -69.10% -37.13% 3.81% -69.10% 24.37%




Active Return / Alpha 2.58% -1.49% 0.08% -4.31% 1.04% 3.40% -1.27% -2.22% -1.47% -2.63% 1.91% -2.36% -3.43% -0.80% 3.40% -3.43% 2.34%

Corelation 0.96 0.95 0.95 0.93 1.00 1.00 0.96 0.94 0.90 0.90 0.92 0.92 0.94 1.00 0.90 0.04

Beta 0.74 0.75 0.76 0.75 0.32 0.47 0.49 0.55 0.57 0.71 0.71 0.68 0.56 0.71 0.32 0.14

R-Squared 0.92 0.91 0.91 0.86 1.00 1.00 0.92 0.87 0.81 0.80 0.85 0.84 0.89 1.00 0.80 0.08


Annualized Return (YTD) -16.63% -41.98% -9.89% -11.21% -18.90% -23.47% -10.24% -0.45% 4.16% -14.29% 4.16% -41.98% 13.49%


Absolute Return (YTD) -1.41% -7.11% -2.49% -3.77% -7.90% -11.80% -6.02% -0.30% 3.12% -4.19% 3.12% -11.80% 4.51%





Coefficient of Variation 2.60 2.65 2.68 3.03 (0.86) (7.33) (5.02) (2.64) (1.92) (6.08) 69.31 10.87 7.04 69.31 (7.33) 25.78

Sharpe 0.17 0.15 0.13 0.08 (1.53) (0.35) (0.45) (0.64) (0.80) (0.39) (0.20) (0.13) (0.56) (0.13) (1.53) 0.45

Sortino 0.30 0.26 0.23 0.14 (1.83) (1.13) (0.54) (0.65) (0.79) (0.88) (0.58) (0.33) (0.22) (0.77) (0.22) (1.83) 0.48

Treynor 0.01 0.01 0.01 0.00 (0.15) (0.04) (0.04) (0.05) (0.05) (0.03) (0.01) (0.01) (0.05) (0.01) (0.15) 0.04

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.02) (0.01) (0.01) (0.01) (0.02) (0.01) (0.01) (0.01) (0.01) (0.01) (0.02) 0.01

Tracking Error 1.82% 1.75% 1.67% 1.95% 1.67% 2.33% 2.51% 2.31% 2.31% 2.30% 2.26% 2.34% 2.25% 2.51% 1.67% 0.25%

Information Ratio (0.19) (0.26) (0.24) (0.37) 1.33 0.45 0.09 (0.04) (0.23) (0.08) (0.20) (0.33) 0.12 1.33 (0.33) 0.54

VAMI 1.18 1.19 1.20 1.18 0.99 0.93 0.98 0.96 0.92 0.88 0.94 1.00 1.03 0.96 1.03 0.88 0.05


Misc. Info

Last NAVs 110.13 110.80 111.49 110.11 98.70 92.99 97.62 96.34 92.20 88.30 94.09 99.81 103.24 95.92 103.24 88.30 4.52

Payouts 10.00

Net Assets 116.45 122.07 123.14 123.31 113.15 106.67 111.99 110.42 105.57 102.30 109.01 110.70 114.51 109.37 114.51 102.30 3.91

MoM + / (-) % in NA 6.71% 4.83% 0.88% 0.13% -8.24% -5.73% 4.99% -1.40% -4.39% -3.10% 6.56% 1.55% 3.44% -0.82% 6.56% -8.24% 5.11%

Total + / (-) YTD % in NA -10.42% -6.10% -5.28% -5.15% -8.24% -13.49% -9.18% -10.45% -14.38% -17.03% -11.59% -10.22% -7.13% -11.30% -7.13% -17.03% 3.17%

AB

L ST

OC

K F

UN

DFI

RST

HA

BIB

STO

CK

FU

ND

AB

L ST

OC

K F

UN

D

FIR

ST H

AB

IB S

TOC

K F

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D




FOR FY 2011-12





Corelation 0.97 0.96 0.96 0.92 1.00 1.00 0.97 0.96 0.83 0.84 0.87 0.87 0.92 1.00 0.83 0.07

Beta 0.70 0.71 0.72 0.71 0.34 0.49 0.52 0.57 0.60 0.79 0.78 0.75 0.61 0.79 0.34 0.16

R-Squared 0.94 0.93 0.93 0.84 1.00 1.00 0.94 0.92 0.69 0.71 0.76 0.76 0.85 1.00 0.69 0.13










Sharpe 0.25 0.22 0.19 0.11 (1.28) (0.20) (0.26) (0.42) (0.61) (0.20) (0.04) 0.02 (0.37) 0.02 (1.28) 0.42

Sortino 0.47 0.42 0.36 0.22 (2.62) (1.10) (0.37) (0.45) (0.64) (0.75) (0.35) (0.08) 0.05 (0.70) 0.05 (2.62) 0.80

Treynor 0.02 0.01 0.01 0.01 (0.12) (0.02) (0.02) (0.03) (0.04) (0.01) (0.00) 0.00 (0.03) 0.00 (0.12) 0.04

Jensen's Alpha 0.00 0.00 0.00 (0.00) (0.02) 0.00 (0.00) (0.00) (0.01) 0.00 0.00 0.00 (0.00) 0.00 (0.02) 0.01

Tracking Error 1.76% 1.72% 1.64% 2.09% 1.50% 2.05% 2.25% 2.02% 2.82% 3.08% 2.91% 2.90% 2.44% 3.08% 1.50% 0.57%

Information Ratio (0.01) (0.09) (0.11) (0.28) 1.85 0.87 0.45 0.39 (0.04) 0.17 0.11 (0.00) 0.48 1.85 (0.04) 0.63

VAMI 1.22 1.23 1.23 1.20 0.99 0.94 1.00 0.99 0.96 0.90 0.99 1.06 1.10 0.99 1.10 0.90 0.06


Misc. Info

Last NAVs 121.1598 121.9175 121.9809 119.6452 101.4587 96.0382 101.7959 101.4572 98.4411 92.3987 100.7053 108.0310 112.5609 101.43 112.56 92.40 6.00

Payouts 17.4453

Net Assets 204 205 180 132.99 145.64 137.87 146.13 145.65 141.32 132.67 144.60 152.50 149.69 144.01 152.50 132.67 6.00

MoM + / (-) % in NA 30.77% 0.49% -12.20% -26.11% 9.51% -5.34% 5.99% -0.33% -2.97% -6.12% 8.99% 5.46% -1.84% 1.32% 9.51% -6.12% 6.08%

Total + / (-) YTD % in NA 59.38% 60.16% 40.63% 3.90% 9.51% 3.66% 9.88% 9.51% 6.26% -0.24% 8.73% 14.67% 12.55% 8.28% 14.67% -0.24% 4.51%




Active Return / Alpha 6.54% -1.73% 0.22% -0.18% -1.11% 2.62% 0.54% -2.87% 0.51% 1.54% -0.74% 3.24% 3.19% 0.75% 3.24% -2.87% 2.10%

Corelation 0.86 0.85 0.85 0.85 1.00 0.97 0.93 0.93 0.93 0.96 0.95 0.94 0.95 1.00 0.93 0.03

Beta 0.78 0.80 0.81 0.83 0.28 0.57 0.62 0.66 0.67 0.73 0.82 0.84 0.65 0.84 0.28 0.18

R-Squared 0.73 0.72 0.72 0.73 1.00 0.95 0.86 0.87 0.87 0.93 0.91 0.89 0.91 1.00 0.86 0.05





Absolute Return (MoM) 12.22% -0.39% 0.62% -1.68% -1.33% -6.15% 6.94% -2.67% -3.43% -4.21% 9.03% 9.81% 4.94% 1.27% 9.81% -6.15% 6.20%





Sharpe 0.41 0.36 0.33 0.27 (1.43) (0.20) (0.34) (0.49) (0.63) (0.23) (0.01) 0.06 (0.41) 0.06 (1.43) 0.47

Sortino 0.97 0.86 0.80 0.65 (1.88) (1.10) (0.36) (0.56) (0.71) (0.81) (0.41) (0.03) 0.12 (0.64) 0.12 (1.88) 0.60

Treynor 0.03 0.03 0.03 0.02 (0.17) (0.02) (0.03) (0.04) (0.04) (0.02) (0.00) 0.00 (0.04) 0.00 (0.17) 0.06

Jensen's Alpha 0.02 0.01 0.01 0.01 (0.03) (0.00) (0.01) (0.01) (0.01) (0.00) 0.00 0.01 (0.01) 0.01 (0.03) 0.01

Tracking Error 3.52% 3.48% 3.32% 3.19% 2.64% 1.87% 2.34% 2.05% 1.95% 1.82% 2.02% 2.10% 2.10% 2.64% 1.82% 0.27%

Information Ratio 0.46 0.37 0.36 0.34 0.29 0.37 (0.09) (0.03) 0.11 0.04 0.23 0.37 0.16 0.37 (0.09) 0.18

VAMI 1.38 1.38 1.38 1.36 0.99 0.93 0.99 0.96 0.93 0.89 0.97 1.07 1.12 0.98 1.12 0.89 0.07


Misc. Info

Last NAVs 87.36 87.02 87.56 87.56 51.86 48.67 52.05 50.66 48.92 46.86 51.09 56.10 58.87 51.68 58.87 46.86 3.75

Payouts 35.00

Net Assets 1,634.98 1,637.88 1,685.30 1,474.72 1,445.43 1,307.72 1,373.21 1,290.92 1,246.35 1,165.36 1,269.71 1,392.90 1,287.81 1,308.82 1,445.43 1,165.36 84.15

MoM + / (-) % in NA -0.70% 0.18% 2.90% -12.50% -1.99% -9.53% 5.01% -5.99% -3.45% -6.50% 8.95% 9.70% -7.54% -1.49% 9.70% -9.53% 7.30%

Total + / (-) YTD % in NA -24.06% -23.92% -21.72% -31.50% -1.99% -11.32% -6.88% -12.46% -15.49% -20.98% -13.90% -5.55% -12.67% -11.25% -1.99% -20.98% 5.71%

LAK

SON

EQ

UIT

Y F

UN

DJS

LA

RG

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AP

FU

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LAK

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UIT

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JS L

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FOR FY 2011-12


Standard Deviation 0.54% 1.52% 2.59% 4.46% 4.96% 4.57% 3.11% 4.96% 0.54% 1.83%

Downside Deviation 0.16% 0.67% 1.28% 2.67% 2.38% 2.18% 2.02% 1.62% 2.67% 0.16% 0.94%

Active Return / Alpha -6.08% 0.02% 0.82% -3.24% 2.54% -0.96% -3.65% -1.54% 2.54% -6.08% 2.97%

Corelation (1.00) 0.64 0.62 0.67 0.79 0.78 0.42 0.79 (1.00) 0.70

Beta -7.15% 14.21% 29.73% 61.00% 72.53% 69.42% 0.40 0.73 (0.07) 0.33

R-Squared 1.00 0.41 0.38 0.45 0.63 0.61 0.58 1.00 0.38 0.23


Annualized Return (YTD) 15.03% 11.41% -5.25% -21.81% 2.98% 20.14% 23.62% 6.59% 23.62% -21.81% 15.96%

Annualized Return (MoM) 15.03% 10.93% -24.42% -57.08% 84.64% 94.27% 37.87% 10.77% 94.27% -57.08% 54.73%

Absolute Return (YTD) 0.16% 1.09% -0.93% -5.74% 1.04% 8.61% 12.10% 2.33% 12.10% -5.74% 6.03%

Absolute Return (MoM) 0.16% 0.93% -2.01% -4.85% 7.19% 7.49% 3.22% 1.65% 7.49% -4.85% 4.57%

Sum Abs. Return (MoM) 0.16% 1.09% -0.91% -5.76% 1.43% 8.92% 12.13% 2.44% 12.13% -5.76% 6.09%

Benchmark Return 6.25% 0.91% -2.83% -1.61% 4.65% 8.45% 6.86% 3.16% 8.45% -2.83% 4.42%

Risk Adjusted Return -0.93% -0.08% -3.03% -5.91% 6.13% 6.42% 2.12% 0.58% 6.42% -5.91% 4.57%

Coefficient of Variation 0.99 (5.00) (1.80) 15.65 3.34 2.64 2.64 15.65 (5.00) 7.08

Sharpe (0.94) (0.89) (0.96) (0.17) 0.09 0.15 (0.45) 0.15 (0.96) 0.53

Sortino (5.68) (0.76) (1.06) (0.93) (0.32) 0.20 0.33 (1.17) 0.33 (5.68) 2.06

Treynor 0.07 (0.10) (0.08) (0.01) 0.01 0.01 (0.02) 0.07 (0.10) 0.06

Jensen's Alpha (0.00) (0.01) (0.02) (0.01) (0.01) (0.01) (0.01) (0.00) (0.02) 0.01

Tracking Error 4.31% 3.78% 3.17% 3.45% 3.09% 2.97% 3.46% 4.31% 2.97% 0.51%

Information Ratio (0.70) (0.46) (0.67) (0.34) (0.37) (0.51) (0.51) (0.34) (0.70) 0.15

VAMI 1.00 1.01 0.99 0.94 1.01 1.09 1.12 1.02 1.12 0.94 0.06

Excess Return on RFR -0.93% -0.51% -1.35% -2.49% -0.77% 0.43% 0.67% -0.71% 0.67% -2.49% 1.07%

Misc. Info

Last NAVs 100.1647 101.0945 99.0653 94.2625 101.0385 108.6060 112.0995 102.33 112.10 94.26 6.03

Payouts

Net Assets 126.68 102.73 101.84 96.53 103.99 111.79 115.01 108.36 126.68 96.53 10.20

MoM + / (-) % in NA -18.91% -0.87% -5.21% 7.73% 7.50% 2.89% -1.60% 7.73% -18.91% 10.02%

Total + / (-) YTD % in NA -18.91% -19.61% -23.80% -17.91% -11.75% -9.21% -16.86% -9.21% -23.80% 5.40%


Standard Deviation

Downside Deviation 0.02%

Active Return / Alpha -0.42%

Corelation

Beta

R-Squared


Annualized Return (YTD) 4.43%

Annualized Return (MoM) 4.43%

Absolute Return (YTD) 0.02%

Absolute Return (MoM) 0.02%

Sum Abs. Return (MoM) 0.02%

Benchmark Return 0.44%

Risk Adjusted Return -0.05%

Coefficient of Variation

Sharpe

Sortino (44.13)

Treynor

Jensen's Alpha

Tracking Error

Information Ratio

VAMI 1.00

Excess Return on RFR -1.07%

Misc. Info

Last NAVs 100.0242

Payouts

Net Assets 100.02

MoM + / (-) % in NA

Total + / (-) YTD % in NA

PIC

IC S

TOC

K F

UN

DA

SKA

RI E

QU

ITY

FU

ND

PIC

IC S

TOC

K F

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D

ASK

AR

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UIT

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D




FOR FY 2011-12




Active Return / Alpha 2.77% -1.10% -0.75% -3.21% 0.84% 4.35% -0.95% -0.20% -0.40% -1.96% 2.09% -0.75% -0.17% 0.30% 4.35% -1.96% 1.89%

Corelation 0.91 0.90 0.90 0.88 1.00 97.82% 85.35% 90.09% 84.42% 86.84% 88.70% 87.41% 0.90 1.00 0.84 0.06

Beta 0.75 0.76 0.77 0.77 0.26 44.85% 46.30% 52.78% 56.64% 70.76% 72.21% 72.36% 0.55 0.72 0.26 0.16

R-Squared 0.85 0.83 0.82 0.78 1.00 95.74% 92.00% 81.77% 72.23% 76.21% 79.02% 76.68% 0.84 1.00 0.72 0.10




Absolute Return (YTD) -0.99% -5.67% -0.34% 0.27% -3.27% -7.79% -0.31% 6.83% 11.92% 0.07% 11.92% -7.79% 6.06%





Coefficient of Variation 1.08 0.90 0.81 1.45 (0.95) (27.00) 5.23 (14.35) (3.60) (0.07) 9.99 4.96 (3.22) 9.99 (27.00) 12.06

Sharpe 0.27 0.25 0.21 0.15 (2.06) (0.22) (0.27) (0.45) (0.61) (0.20) (0.02) 0.06 (0.47) 0.06 (2.06) 0.68

Sortino 0.59 0.54 0.46 0.34 (2.02) (1.20) (0.68) (0.41) (0.64) (0.75) (0.34) (0.04) (2.07) (0.91) (0.04) (2.07) 0.72

Treynor 0.02 0.02 0.01 0.01 (0.21) (0.03) (0.02) (0.04) (0.05) (0.01) (0.00) 0.00 (0.04) 0.00 (0.21) 0.07

Jensen's Alpha 0.01 0.00 0.00 0.00 (0.02) 0.00 0.00 (0.00) (0.01) 0.00 0.00 0.00 (0.00) 0.00 (0.02) 0.01

Tracking Error 2.47% 2.45% 2.39% 2.57% 2.79% 2.81% 2.68% 2.54% 2.66% 2.70% 2.73% 2.88% 2.72% 2.88% 2.54% 0.11%

Information Ratio 0.24 0.15 0.09 (0.03) 1.03 0.59 0.40 28.07% 9.19% 17.69% 13.71% 10.46% 0.35 1.03 0.09 0.32

VAMI 1.25 1.26 1.25 1.24 0.99 0.94 1.00 1.00 0.97 0.92 1.00 1.07 1.12 1.00 1.12 0.92 0.06


Misc. Info

Last NAVs 84.08 84.72 84.45 82.96 67.08 63.87 69.41 69.86 67.40 63.88 69.63 74.63 79.41 69.46 79.41 63.87 4.98

Payouts 0.19 16.45

Net Assets 2,755.71 2,805.59 2,793.94 2,894.77 2,677.10 2,511.25 2,520.40 2,567.79 2,419.11 2,329.58 2,480.82 2,627.50 2,573.29 2,522.98 2,677.10 2,329.58 105.67

MoM + / (-) % in NA 8.41% 0.49% -3.99% -4.58% -5.50% -5.49% 1.84% 3.74% -3.79% -7.64% 7.36% 5.85% -2.78% -0.85% 7.36% -7.64% 5.50%

Total + / (-) YTD % in NA -3.18% -2.69% -5.89% -9.51% -5.50% -10.77% -9.37% -5.88% -9.41% -16.33% -9.91% -4.51% -6.82% -8.72% -4.51% -16.33% 3.61%

Category NA 49,602.79 50,500.70 50,290.91 52,105.90 48,187.83 45,202.42 47,887.66 48,788.05 45,963.00 44,262.00 47,135.64 49,922.49 51,465.82 47,646.10 51,465.82 44,262.00 2,289.79

1.17% 1.17% 1.17% 1.17% 1.17% 1.12% 1.10% 1.01% 1.03% 1.06% 1.06% 1.07% 1.09% 1.08% 1.17% 1.01% 0.05%Risk Free Rate - 10Y PIB (MoM)

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CONVENTIONAL BALANCED FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min Std. Dev.




Active Return / Alpha 4.40% -1.68% -4.08% -2.23% -0.63% 2.66% 0.35% -0.29% -0.95% -0.06% 2.04% 1.43% 3.47% 0.88% 3.47% -0.95% 1.57%

Corelation 0.92 0.91 0.87 0.87 1.00 0.92 0.90 0.86 0.88 0.93 0.94 0.91 0.92 1.00 0.86 0.04

Beta 1.00 1.03 1.07 1.11 0.12 0.45 0.50 0.60 0.66 0.88 0.93 0.96 0.64 0.96 0.12 0.29

R-Squared 0.86 0.83 0.76 0.76 1.00 0.84 0.80 0.74 0.77 0.86 0.88 0.82 0.84 1.00 0.74 0.08


Annualized Return (YTD) -1.68% -7.96% 10.81% 9.29% 1.45% -3.69% 9.18% 16.24% 21.60% 6.14% 21.60% -7.96% 9.75%


Absolute Return (YTD) -0.14% -1.35% 2.72% 3.12% 0.61% -1.86% 5.39% 10.83% 16.23% 3.95% 16.23% -1.86% 6.04%

Absolute Return (MoM) 7.85% -0.45% -3.29% -2.40% -0.14% -1.21% 4.12% 0.39% -2.44% -2.45% 7.38% 5.16% 4.88% 1.69% 7.38% -2.45% 3.68%

Sum Abs. Return (MoM) 19.48% 19.04% 15.75% 13.35% -0.14% -1.35% 2.77% 3.17% 0.73% -1.72% 5.66% 10.82% 15.69% 3.96% 15.69% -1.72% 5.89%

Benchmark Returns 3.45% 1.23% 0.79% -0.17% 0.49% -3.87% 3.77% 0.68% -1.49% -2.39% 5.34% 3.73% 1.41% 0.81% 5.34% -3.87% 3.08%



Sharpe 0.26 0.20 0.08 (0.00) (2.39) (0.07) (0.13) (0.38) (0.55) (0.07) 0.08 0.19 (0.42) 0.19 (2.39) 0.83

Sortino 0.54 0.42 0.15 (0.01) (9.09) (2.10) (0.27) (0.47) (0.76) (0.90) (0.18) 0.22 0.56 (1.44) 0.56 (9.09) 2.97

Treynor 0.01 0.01 0.00 (0.00) (0.15) (0.00) (0.01) (0.02) (0.02) (0.00) 0.00 0.01 (0.02) 0.01 (0.15) 0.05

Jensen's Alpha 0.00 0.00 (0.00) (0.00) (0.01) 0.00 0.00 (0.00) (0.00) 0.00 0.01 0.01 0.00 0.01 (0.01) 0.01

Tracking Error 1.59% 1.64% 2.03% 2.03% 2.33% 1.69% 1.48% 1.44% 1.30% 1.38% 1.32% 1.57% 1.56% 2.33% 1.30% 0.34%

Information Ratio 0.29 0.15 (0.07) (0.16) 0.44 0.47 0.35 0.16 0.14 0.33 0.43 0.57 0.36 0.57 0.14 0.15

VAMI 1.20 1.20 1.16 1.13 1.00 0.99 1.03 1.03 1.01 0.98 1.05 1.11 1.16 1.04 1.16 0.98 0.06

Excess Return on RFR 1.05% 0.78% 0.31% -0.02% -1.27% -1.79% -0.17% -0.28% -0.92% -1.35% -0.25% 0.29% 0.79% -0.55% 0.79% -1.79% 0.84%

Misc. Info

Last NAVs 109.77 109.28 105.69 103.15 98.51 97.32 101.33 101.73 99.25 96.82 103.97 109.33 114.66 102.55 114.66 96.82 5.96

Payouts 4.50

Net Assets 1,874.67 1,845.03 1,762.22 1,735.47 1,725.49 1,608.20 1,633.55 1,612.07 1,564.00 1,515.28 1,613.12 1,616.12 1,617.92 1,611.75 1,725.49 1,515.28 55.98

MoM + / (-) % in NA 5.05% -1.58% -4.49% -1.52% -0.58% -6.80% 1.58% -1.32% -2.98% -3.12% 6.46% 0.19% 0.11% -0.78% 6.46% -6.80% 3.65%

Total + / (-) YTD % in NA -22.08% -23.32% -26.76% -27.87% -0.58% -7.33% -5.87% -7.11% -9.88% -12.69% -7.05% -6.88% -6.77% -7.13% -0.58% -12.69% 3.23%

Risk Free Rate (MoM) 1.15% 1.15% 1.15% 1.16% 1.15% 1.11% 1.09% 1.02% 1.01% 1.04% 1.03% 1.04% 1.06% 1.06% 1.15% 1.01% 0.05%




Active Return / Alpha 1.51% 1.51% -2.49% -7.13% -1.45% -0.80% -0.36% 0.70% -2.93% 0.68% -0.23% -0.15% -2.80% -0.82% 0.70% -2.93% 1.34%

Corelation 0.97 0.96 0.95 0.83 1.00 0.99 0.96 0.91 0.90 0.91 0.93 0.87 0.93 1.00 0.87 0.04

Beta 1.14 1.15 1.19 1.17 0.38 0.72 0.86 0.99 1.06 1.08 1.08 0.93 0.89 1.08 0.38 0.24

R-Squared 0.95 0.93 0.90 0.69 1.00 0.98 0.92 0.83 0.80 0.83 0.86 0.76 0.88 1.00 0.76 0.08



Annualized Return (MoM) -20.52% -44.06% 33.52% 19.37% -46.07% 14.46% 27.98% 43.31% 10.72% -1.31% 43.31% -46.07% 33.17%


Absolute Return (MoM) 4.25% 3.21% -1.59% -5.13% -1.74% -3.73% 2.75% 1.64% -3.78% 1.22% 2.37% 3.43% 0.91% 0.31% 3.43% -3.78% 2.74%


Benchmark Returns 2.74% 1.70% 0.90% 2.00% -0.29% -2.93% 3.11% 0.94% -0.85% 0.54% 2.60% 3.58% 3.71% 1.13% 3.71% -2.93% 2.28%

Risk Adjusted Return 3.11% 2.07% -2.73% -6.28% -2.88% -4.83% 1.66% 0.62% -4.77% 0.21% 1.36% 2.42% -0.12% -0.74% 2.42% -4.83% 2.76%


Sharpe 0.11 0.15 0.08 (0.06) (2.73) (0.61) (0.45) (0.67) (0.58) (0.43) (0.27) (0.26) (0.75) (0.26) (2.73) 0.82

Sortino 0.17 0.25 0.13 (0.09) (1.66) (1.32) (0.85) (0.66) (0.82) (0.73) (0.58) (0.39) (0.37) (0.82) (0.37) (1.66) 0.42

Treynor 0.00 0.01 0.00 (0.00) (0.10) (0.03) (0.02) (0.02) (0.02) (0.01) (0.01) (0.01) (0.03) (0.01) (0.10) 0.03

Jensen's Alpha (0.00) (0.00) (0.00) (0.01) (0.03) (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) (0.03) 0.01

Tracking Error 1.33% 1.37% 1.49% 2.43% 0.46% 0.55% 0.90% 1.35% 1.38% 1.27% 1.19% 1.34% 1.05% 1.38% 0.46% 0.37%


VAMI 1.14 1.18 1.16 1.10 0.98 0.95 0.97 0.99 0.95 0.96 0.99 1.02 1.03 0.98 1.03 0.95 0.03

Excess Return on RFR 0.44% 0.60% 0.30% -0.25% -2.86% -3.85% -2.00% -1.34% -2.03% -1.66% -1.23% -0.77% -0.60% -1.81% -0.60% -3.85% 1.03%

Misc. Info

Last NAVs 75.00 77.41 76.18 72.27 61.63 59.33 60.96 61.96 59.62 60.35 61.78 63.90 64.48 61.56 64.48 59.33 1.76

Payouts 9.55

Net Assets 388.59 400.30 380.90 360.19 328.35 305.27 313.11 318.09 229.43 231.87 233.19 231.93 229.96 269.02 328.35 229.43 45.17

MoM + / (-) % in NA 1.60% 3.01% -4.85% -5.44% -8.84% -7.03% 2.57% 1.59% -27.87% 1.06% 0.57% -0.54% -0.85% -4.86% 2.57% -27.87% 9.64%

Total + / (-) YTD % in NA -24.74% -22.47% -26.23% -30.24% -8.84% -15.25% -13.07% -11.69% -36.30% -35.63% -35.26% -35.61% -36.16% -25.31% -8.84% -36.30% 12.54%


FOR FY 2011-12

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FOR FY 2011-12




Active Return / Alpha 1.60% -1.11% 0.37% -0.43% 0.41% 3.03% -2.26% 1.99% -0.49% 0.48% -0.88% 1.62% 2.50% 0.70% 3.03% -2.26% 1.73%

Corelation 0.96 0.93 0.93 0.93 1.00 0.99 0.73 0.68 0.73 0.85 0.85 0.83 0.83 1.00 0.68 0.12

Beta 0.74 0.76 0.77 0.80 0.19 0.21 0.25 0.36 0.43 0.53 0.63 0.66 0.41 0.66 0.19 0.19

R-Squared 0.92 0.87 0.87 0.86 1.00 0.97 0.53 0.46 0.53 0.73 0.73 0.69 0.70 1.00 0.46 0.20


Annualized Return (YTD) 9.51% -0.34% 5.70% 12.22% 4.83% 0.06% 7.60% 15.03% 18.99% 8.18% 18.99% -0.34% 6.50%

Annualized Return (MoM) 9.51% -10.10% 18.18% 31.13% -24.47% -23.02% 52.34% 67.11% 45.57% 14.14% 67.11% -24.47% 33.30%

Absolute Return (YTD) 0.81% -0.06% 1.43% 4.11% 2.02% 0.03% 4.46% 10.02% 14.27% 4.12% 14.27% -0.06% 4.93%

Absolute Return (MoM) 5.00% 0.08% 1.14% -0.64% 0.81% -0.86% 1.49% 2.64% -2.01% -1.95% 4.43% 5.32% 3.86% 1.49% 5.32% -2.01% 2.74%

Sum Abs. Return (MoM) 22.56% 22.64% 23.78% 23.14% 0.81% -0.05% 1.44% 4.08% 2.07% 0.12% 4.56% 9.87% 13.73% 4.07% 13.73% -0.05% 4.76%

Benchmark Returns 3.40% 1.19% 0.77% -0.21% 0.40% -3.89% 3.75% 0.65% -1.52% -2.43% 5.31% 3.70% 1.36% 0.77% 5.31% -3.89% 3.08%

Risk Adjusted Return 3.86% -1.06% 0.00% -1.79% -0.34% -1.95% 0.40% 1.62% -3.01% -2.97% 3.42% 4.29% 2.82% 0.44% 4.29% -3.01% 2.75%

Coefficient of Variation 1.14 1.24 1.24 1.39 (46.74) 2.51 1.43 4.47 94.37 3.72 2.25 1.80 7.98 94.37 (46.74) 38.97

Sharpe 0.49 0.41 0.39 0.30 (0.98) (0.52) (0.05) (0.35) (0.54) (0.17) 0.07 0.17 (0.30) 0.17 (0.98) 0.38

Sortino 1.76 1.53 1.46 1.14 (0.42) (1.38) (0.93) (0.12) (0.63) (0.84) (0.35) 0.17 0.47 (0.45) 0.47 (1.38) 0.57

Treynor 0.02 0.02 0.01 0.01 (0.06) (0.03) (0.00) (0.02) (0.02) (0.01) 0.00 0.01 (0.02) 0.01 (0.06) 0.02

Jensen's Alpha 0.01 0.01 0.01 0.01 (0.01) (0.00) 0.00 (0.00) (0.00) (0.00) 0.00 0.01 (0.00) 0.01 (0.01) 0.00

Tracking Error 1.00% 1.12% 1.07% 1.07% 1.86% 2.65% 2.30% 2.07% 1.86% 1.78% 1.71% 1.73% 1.99% 2.65% 1.71% 0.33%


VAMI 1.25 1.25 1.26 1.25 1.01 1.00 1.01 1.04 1.02 1.00 1.04 1.10 1.14 1.04 1.14 1.00 0.05


Misc. Info

Last NAVs 10.9252 10.6643 10.7856 10.7166 9.3516 9.2716 9.4098 9.6579 9.4642 9.2797 9.6911 10.2064 10.6003 9.66 10.60 9.27 0.46

Payouts 0.2700 1.4397

Net Assets 720 712 715 705.99 703.89 696.06 590.92 593.52 579.47 561.97 585.72 610.13 624.91 616.29 703.89 561.97 50.69

MoM + / (-) % in NA 4.65% -1.11% 0.42% -1.26% -0.30% -1.11% -15.11% 0.44% -2.37% -3.02% 4.23% 4.17% 2.42% -1.35% 4.23% -15.11% 5.84%

Total + / (-) YTD % in NA -27.71% -28.51% -28.21% -29.12% -0.30% -1.41% -16.30% -15.93% -17.92% -20.40% -17.04% -13.58% -11.48% -12.71% -0.30% -20.40% 7.18%





Active Return / Alpha 2.94% -0.44% -1.98% -0.78% 1.10% 3.42% 0.30% 0.32% -0.84% -2.94% 4.85% 0.15% 0.14% 0.70% 4.85% -2.94% 2.27%

Corelation 0.92 0.91 0.89 0.89 1.00 0.98 0.95 0.85 0.71 0.70 0.76 0.78 0.84 1.00 0.70 0.12

Beta 0.92 0.94 0.97 0.97 0.21 0.42 0.47 0.55 0.63 0.84 0.82 0.82 0.59 0.84 0.21 0.23

R-Squared 0.84 0.83 0.80 0.79 1.00 0.97 0.90 0.72 0.51 0.49 0.58 0.61 0.72 1.00 0.49 0.21


Annualized Return (YTD) 5.30% -4.29% 12.93% 9.73% 1.58% -7.33% 3.70% 10.73% 15.33% 5.30% 15.33% -7.33% 7.71%



Absolute Return (MoM) 5.81% 1.17% -1.16% 1.32% 0.45% -1.17% 4.01% 0.02% -2.53% -4.32% 6.08% 4.88% 4.07% 1.22% 6.08% -4.32% 3.63%


Benchmark Returns 2.86% 1.61% 0.83% 2.10% -0.65% -4.59% 3.71% -0.30% -1.69% -1.38% 1.23% 4.72% 3.93% 0.51% 4.72% -4.59% 3.09%

Risk Adjusted Return 4.67% 0.03% -2.29% 0.18% -0.70% -2.28% 2.91% -1.00% -3.53% -5.34% 5.07% 3.85% 3.04% 0.17% 5.07% -5.34% 3.63%


Sharpe 0.34 0.33 0.23 0.23 (1.30) (0.01) (0.12) (0.38) (0.58) (0.19) (0.03) 0.06 (0.32) 0.06 (1.30) 0.45

Sortino 0.87 0.83 0.59 0.58 (1.56) (1.68) (0.03) (0.42) (0.73) (0.79) (0.36) (0.07) 0.13 (0.61) 0.13 (1.68) 0.65

Treynor 0.01 0.01 0.01 0.01 (0.07) (0.00) (0.01) (0.02) (0.03) (0.01) (0.00) 0.00 (0.02) 0.00 (0.07) 0.02

Jensen's Alpha 0.01 0.01 0.00 0.00 (0.01) 0.01 0.00 0.00 (0.00) 0.01 0.01 0.01 0.00 0.01 (0.01) 0.01

Tracking Error 1.37% 1.33% 1.46% 1.42% 1.64% 1.62% 1.47% 1.59% 2.10% 2.60% 2.42% 2.27% 1.96% 2.60% 1.47% 0.43%


VAMI 1.22 1.23 1.22 1.24 1.00 0.99 1.03 1.03 1.01 0.96 1.02 1.07 1.12 1.03 1.12 0.96 0.04

Excess Return on RFR 1.17% 1.06% 0.75% 0.71% -0.68% -1.48% 0.00% -0.25% -0.91% -1.65% -0.69% -0.12% 0.33% -0.60% 0.33% -1.65% 0.67%

Misc. Info

Last NAVs 98.1132 99.2624 98.1132 99.4110 84.5386 83.5488 86.8958 86.9125 84.7157 81.0600 85.9890 90.1824 93.8573 86.41 93.86 81.06 3.77

Payouts 15.2500

Net Assets 401.06 405.87 401.06 333.34 334.80 330.90 344.18 344.27 335.59 321.08 340.74 357.38 370.91 342.21 370.91 321.08 14.74

MoM + / (-) % in NA 5.81% 1.20% -1.18% -16.89% 0.44% -1.16% 4.01% 0.03% -2.52% -4.32% 6.12% 4.88% 3.79% 1.19% 6.12% -4.32% 3.61%

Total + / (-) YTD % in NA 11.13% 12.46% 11.13% -7.64% 0.44% -0.73% 3.25% 3.28% 0.68% -3.68% 2.22% 7.21% 11.27% 2.66% 11.27% -3.68% 4.42%


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FOR FY 2011-12




Active Return / Alpha 0.48% -1.69% -0.56% -3.06% -0.52% 2.96% 0.09% -1.13% -1.44% -3.45% 2.96% -0.82% -1.22% -0.31% 2.96% -3.45% 2.08%

Corelation 0.91 0.90 0.90 0.85 (1.00) 0.91 0.87 0.82 0.70 0.76 0.80 0.81 0.58 0.91 (1.00) 0.64

Beta 0.60 0.61 0.62 0.61 (0.04) 0.47 0.49 0.55 0.57 0.82 0.81 0.79 0.56 0.82 (0.04) 0.28

R-Squared 0.83 0.80 0.80 0.72 1.00 0.83 0.76 0.68 0.50 0.57 0.64 0.66 0.70 1.00 0.50 0.16



Annualized Return (MoM) -22.68% -19.35% 47.44% -1.58% -31.03% -45.41% 69.15% 52.80% 35.17% 1.95% 69.15% -45.41% 42.10%



Sum Abs. Return (MoM) 14.10% 14.10% 14.35% 13.49% -1.92% -3.56% 0.33% 0.19% -2.35% -6.20% -0.34% 3.85% 6.82% -0.35% 6.82% -6.20% 3.89%

Benchmark Returns 3.10% 1.69% 0.81% 2.20% -1.40% -4.60% 3.80% 1.00% -1.10% -0.40% 2.90% 5.00% 4.20% 1.00% 5.00% -4.60% 3.19%


Coefficient of Variation 1.68 1.79 1.86 2.13 (0.11) 29.95 55.08 (5.52) (2.61) (74.22) 7.57 4.62 1.84 55.08 (74.22) 36.89

Sharpe 0.18 0.12 0.08 0.00 (14.58) (0.31) (0.39) (0.60) (0.78) (0.31) (0.16) (0.08) (2.15) (0.08) (14.58) 5.03

Sortino 0.37 0.26 0.17 0.01 (1.60) (1.63) (0.69) (0.82) (0.96) (0.98) (0.56) (0.31) (0.17) (0.86) (0.17) (1.63) 0.51

Treynor 0.01 0.00 0.00 0.00 0.66 (0.02) (0.02) (0.03) (0.04) (0.01) (0.01) (0.00) 0.07 0.66 (0.04) 0.24

Jensen's Alpha 0.00 (0.00) (0.00) (0.00) (0.03) (0.00) (0.00) (0.01) (0.01) (0.00) (0.00) (0.00) (0.01) (0.00) (0.03) 0.01

Tracking Error 1.56% 1.55% 1.48% 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 2.08% 2.46% 1.76% 0.25%

Information Ratio (0.09) (0.19) (0.22) (0.34) 0.50 0.45 0.19 (0.01) (0.28) (0.03) (0.08) (0.14) 0.08 0.50 (0.28) 0.28

VAMI 1.15 1.15 1.15 1.14 0.98 0.96 1.00 1.00 0.98 0.94 0.99 1.03 1.07 0.99 1.07 0.94 0.04


Misc. Info

Last NAVs 8.11 8.11 8.13 8.06 7.32 7.20 7.48 7.47 7.28 7.00 7.41 7.72 7.95 7.43 7.95 7.00 0.28

Payouts 0.60

Net Assets 430 410 400 390.39 376.51 365.95 367.53 359.73 347.51 332.02 349.39 359.38 360.26 357.59 376.51 332.02 13.06

MoM + / (-) % in NA 4.88% -4.65% -2.44% -2.40% -3.55% -2.81% 0.43% -2.12% -3.40% -4.46% 5.23% 2.86% 0.25% -0.89% 5.23% -4.46% 3.28%

Total + / (-) YTD % in NA -2.27% -6.82% -9.09% -11.28% -3.55% -6.26% -5.86% -7.85% -10.98% -14.95% -10.50% -7.94% -7.72% -8.40% -3.55% -14.95% 3.35%





Active Return / Alpha 2.19% -0.68% -1.75% -2.73% -0.22% 2.25% -0.38% 0.32% -1.33% -1.05% 1.75% 0.45% 0.42% 0.24% 2.25% -1.33% 1.18%

Corelation 0.94 0.92 0.91 0.87 0.60 0.96 0.88 0.83 0.78 0.83 0.86 0.84 0.82 0.96 0.60 0.10

Beta 0.88 0.90 0.92 0.93 0.17 0.45 0.51 0.61 0.67 0.83 0.85 0.83 0.62 0.85 0.17 0.24

R-Squared 0.88 0.85 0.83 0.76 1.00 0.92 0.78 0.69 0.62 0.70 0.74 0.71 0.77 1.00 0.62 0.13







Benchmark Returns 3.11% 1.48% 0.82% 1.18% -0.29% -3.98% 3.63% 0.59% -1.33% -1.21% 3.48% 4.15% 2.92% 0.85% 4.15% -3.98% 2.82%


Coefficient of Variation 1.77 1.77 2.07 2.71 (10.33) 6.86 10.21 5.72 14.73 (14.34) 5.47 3.88 2.77 14.73 (14.34) 9.98

Sharpe 0.27 0.24 0.17 0.09 (4.40) (0.30) (0.23) (0.47) (0.61) (0.23) (0.06) 0.02 (0.79) 0.02 (4.40) 1.47

Sortino 0.74 0.66 0.50 0.33 (2.87) (1.62) (0.55) (0.50) (0.78) (0.85) (0.41) (0.08) 0.12 (0.84) 0.12 (2.87) 0.91

Treynor 0.01 0.01 0.01 0.00 0.06 (0.02) (0.01) (0.02) (0.02) (0.01) (0.00) 0.00 (0.00) 0.06 (0.02) 0.03

Jensen's Alpha 0.00 0.00 0.00 (0.00) (0.02) (0.00) (0.00) (0.00) (0.01) 0.00 0.00 0.00 (0.00) 0.00 (0.02) 0.01

Tracking Error 1.37% 1.40% 1.51% 1.71% 1.75% 1.67% 1.59% 1.64% 1.75% 1.87% 1.76% 1.80% 1.73% 1.87% 1.59% 0.09%

Information Ratio 0.26 0.17 0.05 (0.05) 0.15 0.09 0.25 0.05 (0.05) 0.07 0.10 0.11 0.10 0.25 (0.05) 0.09

VAMI 1.19 1.20 1.19 1.17 0.99 0.98 1.01 1.02 0.99 0.97 1.02 1.07 1.10 1.02 1.10 0.97 0.04


Misc. Info

Last NAVs 60.3837 60.9453 59.7798 58.7215 52.2700 51.3341 53.2151 53.5461 52.0660 50.9019 53.7680 56.2678 58.3095 53.52 58.31 50.90 2.40

Payouts 0.2700 6.2673

Net Assets 762.86 754.64 731.84 705.07 693.81 661.27 649.86 645.53 611.20 592.44 624.43 634.98 640.79 639.37 693.81 592.44 29.22

MoM + / (-) % in NA 4.40% -0.63% -2.51% -5.50% -2.57% -3.78% -1.30% -0.28% -7.83% -2.77% 4.52% 2.31% 1.14% -1.23% 4.52% -7.83% 3.65%

Total + / (-) YTD % in NA -13.14% -13.73% -15.83% -21.23% -2.57% -6.20% -7.57% -7.86% -14.88% -17.47% -13.53% -11.36% -10.17% -10.18% -2.57% -17.47% 4.66%


Category NA 3,814.32 3,773.20 3,659.18 3,525.37 3,469.04 3,306.37 3,249.29 3,227.67 3,056.00 2,962.22 3,122.16 3,174.92 3,203.97 3,196.85 3,469.04 2,962.22 146.11

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CONVENTIONAL ASSET ALLOCATION FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Maximum Minimum Std. Dev.




Active Return / Alpha 0.67% -0.43% -10.73% -3.10% -3.60% -0.51% -2.53% -1.13% 0.08% -1.06% 2.00% 0.50% 1.23% -0.57% 2.00% -3.60% 1.77%

Corelation 0.82 0.82 0.62 0.64 1.00 0.93 0.91 0.86 0.88 0.89 0.91 0.90 0.91 1.00 0.86 0.04

Beta 0.83 0.84 0.95 0.99 0.16 0.48 0.55 0.53 0.57 0.92 0.98 1.01 0.65 1.01 0.16 0.29

R-Squared 0.68 0.68 0.38 0.40 1.00 0.87 0.82 0.74 0.77 0.80 0.83 0.81 0.83 1.00 0.74 0.08


Annualized Return (YTD) -37.21% -44.81% -25.71% -20.56% -20.11% -23.36% -9.21% -2.32% 1.15% -20.24% 1.15% -44.81% 15.13%


Absolute Return (YTD) -3.15% -7.59% -6.46% -6.91% -8.41% -11.74% -5.41% -1.55% 0.87% -5.59% 0.87% -11.74% 3.81%

Absolute Return (MoM) 4.08% 0.76% -9.95% -3.30% -3.15% -4.58% 1.22% -0.48% -1.61% -3.64% 7.17% 4.08% 2.45% 0.10% 7.17% -4.58% 3.91%

Sum Abs. Return (MoM) 7.65% 8.41% -1.54% -4.84% -3.15% -7.74% -6.51% -6.99% -8.60% -12.24% -5.07% -0.99% 1.47% -5.54% 1.47% -12.24% 4.15%

Benchmark Return 3.41% 1.19% 0.78% -0.20% 0.45% -4.07% 3.75% 0.65% -1.69% -2.58% 5.17% 3.58% 1.22% 0.68% 5.17% -4.07% 3.11%


Coefficient of Variation 3.88 3.70 (31.45) (10.63) (0.26) (1.39) (1.49) (1.32) (1.06) (5.53) (33.08) 23.98 (2.52) 23.98 (33.08) 15.38

Sharpe (0.08) (0.09) (0.29) (0.35) (4.93) (1.09) (1.09) (1.23) (1.43) (0.44) (0.29) (0.23) (1.34) (0.23) (4.93) 1.52

Sortino (0.14) (0.15) (0.36) (0.44) (1.36) (1.27) (1.02) (1.02) (1.07) (1.11) (0.69) (0.49) (0.39) (0.94) (0.39) (1.36) 0.34

Treynor (0.00) (0.00) (0.01) (0.02) (0.32) (0.07) (0.05) (0.05) (0.05) (0.02) (0.01) (0.01) (0.07) (0.01) (0.32) 0.10

Jensen's Alpha (0.01) (0.01) (0.02) (0.02) (0.05) (0.03) (0.02) (0.02) (0.02) (0.01) (0.01) (0.01) (0.02) (0.01) (0.05) 0.01

Tracking Error 1.88% 1.78% 3.45% 3.31% 2.18% 1.57% 1.39% 1.51% 1.36% 1.80% 1.75% 1.77% 1.67% 2.18% 1.36% 0.27%


VAMI 1.07 1.08 0.97 0.94 0.97 0.92 0.94 0.93 0.92 0.88 0.95 0.98 1.01 0.94 1.01 0.88 0.04


Misc. Info

Last NAVs 43.39 43.72 39.37 38.07 36.87 35.18 35.61 35.44 34.87 33.60 36.01 37.48 38.40 35.94 38.40 33.60 1.45

Payouts

Net Assets 417 415 370 414.41 346.56 330.82 334.92 329.45 324.33 313.59 336.33 350.14 359.56 336.19 359.56 313.59 14.03

MoM + / (-) % in NA 3.99% -0.48% -10.84% 12.00% -16.37% -4.54% 1.24% -1.63% -1.55% -3.31% 7.25% 4.11% 2.69% -1.57% 7.25% -16.37% 6.77%

Total + / (-) YTD % in NA -9.94% -10.37% -20.09% -10.49% -16.37% -20.17% -19.18% -20.50% -21.74% -24.33% -18.84% -15.51% -13.24% -18.88% -13.24% -24.33% 3.39%





Active Return / Alpha 2.92% -1.00% -0.31% -2.06% -0.04% 5.21% -1.51% -1.08% -0.50% 0.18% -0.36% -1.53% 5.54% 0.62% 5.54% -1.53% 2.74%

Corelation 0.96 0.96 0.96 0.95 1.00 0.98 0.95 0.91 0.91 0.95 0.95 0.90 0.94 1.00 0.90 0.04

Beta 0.74 0.75 0.76 0.78 0.19 0.37 0.40 0.48 0.54 0.67 0.68 0.70 0.50 0.70 0.19 0.18

R-Squared 0.92 0.92 0.92 0.90 1.00 0.96 0.90 0.83 0.83 0.90 0.91 0.80 0.89 1.00 0.80 0.07






Sum Abs. Return (MoM) 20.02% 20.37% 20.45% 16.90% -0.27% -3.83% 1.07% 0.19% -4.26% -9.83% -0.43% 4.61% 11.54% -0.13% 11.54% -9.83% 5.97%



Coefficient of Variation 2.51 2.61 2.73 3.61 (1.22) 12.00 76.33 (4.30) (2.32) (87.94) 9.27 4.23 0.76 76.33 (87.94) 44.45

Sharpe 0.20 0.17 0.14 0.06 (1.31) (0.18) (0.30) (0.53) (0.71) (0.21) (0.09) 0.04 (0.41) 0.04 (1.31) 0.44

Sortino 0.34 0.29 0.25 0.09 (5.40) (1.21) (0.38) (0.57) (0.75) (0.83) (0.37) (0.17) 0.08 (1.07) 0.08 (5.40) 1.67

Treynor 0.02 0.01 0.01 0.00 (0.16) (0.02) (0.03) (0.04) (0.05) (0.02) (0.01) 0.00 (0.04) 0.00 (0.16) 0.05

Jensen's Alpha 0.00 0.00 0.00 (0.00) (0.02) (0.00) (0.00) (0.01) (0.01) (0.00) (0.00) 0.01 (0.01) 0.01 (0.02) 0.01

Tracking Error 1.94% 1.86% 1.77% 1.77% 3.71% 3.53% 3.11% 2.74% 2.45% 2.25% 2.18% 2.74% 2.84% 3.71% 2.18% 0.57%


VAMI 1.20 1.21 1.21 1.17 1.00 0.96 1.01 1.00 0.96 0.90 0.99 1.04 1.11 1.00 1.11 0.90 0.06


Misc. Info

Last NAVs 23.25 23.33 23.35 22.52 22.46 21.66 22.72 22.52 21.52 20.32 22.23 23.35 24.97 22.42 24.97 20.32 1.29

Payouts

Net Assets 135.35 135.50 134.35 122.45 120.87 114.47 119.49 117.96 111.30 102.74 112.21 117.67 125.48 115.80 125.48 102.74 6.58

MoM + / (-) % in NA 8.01% 0.11% -0.85% -8.86% -1.29% -5.30% 4.39% -1.29% -5.64% -7.69% 9.22% 4.86% 6.64% 0.27% 9.22% -7.69% 6.05%

Total + / (-) YTD % in NA -11.65% -11.55% -12.30% -20.07% -1.29% -6.52% -2.42% -3.67% -9.10% -16.10% -8.36% -3.90% 2.48% -5.43% 2.48% -16.10% 5.38%


FOR FY 2011-12

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FOR FY 2011-12




Active Return / Alpha 1.26% -1.25% -1.06% -1.53% 0.13% -8.24% -0.44% -0.62% -1.05% -3.83% 3.56% 0.60% -0.58% -1.21% 3.56% -8.24% 3.27%

Corelation 0.90 0.90 0.90 0.90 (1.00) (0.07) (0.11) 0.07 0.22 0.36 0.52 0.55 0.07 0.55 (1.00) 0.50

Beta 0.87 0.88 0.89 0.90 (0.38) (0.06) (0.11) 0.07 0.23 0.57 0.80 0.85 0.25 0.85 (0.38) 0.45

R-Squared 0.80 0.80 0.81 0.80 1.00 0.00 0.01 0.01 0.05 0.13 0.27 0.30 0.22 1.00 0.00 0.34





Absolute Return (MoM) 4.15% 0.36% -0.21% 0.57% -0.53% -4.17% 3.23% 0.36% -1.98% -4.12% 6.39% 5.30% 3.34% 0.80% 6.39% -4.17% 3.91%


Benchmark Return 2.89% 1.61% 0.85% 2.10% -0.66% 4.07% 3.67% 0.98% -0.93% -0.29% 2.83% 4.70% 3.92% 2.01% 4.70% -0.93% 2.25%



Sharpe (0.16) (0.18) (0.21) (0.22) (1.35) (0.43) (0.45) (0.61) (0.80) (0.30) (0.12) (0.05) (0.51) (0.05) (1.35) 0.42

Sortino (0.25) (0.28) (0.33) (0.34) (3.15) (1.17) (0.66) (0.65) (0.81) (0.89) (0.50) (0.22) (0.09) (0.91) (0.09) (3.15) 0.91

Treynor (0.01) (0.01) (0.01) (0.01) 0.09 0.26 0.13 (0.25) (0.10) (0.02) (0.01) (0.00) 0.01 0.26 (0.25) 0.15

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.03) (0.02) (0.01) (0.02) (0.02) (0.01) (0.01) (0.01) (0.02) (0.01) (0.03) 0.01

Tracking Error 1.46% 1.38% 1.31% 1.25% 5.92% 4.68% 3.98% 3.49% 3.21% 3.68% 3.49% 3.27% 3.96% 5.92% 3.21% 0.92%


VAMI 1.05 1.05 1.05 1.06 0.99 0.95 0.98 0.99 0.97 0.93 0.99 1.04 1.07 0.99 1.07 0.93 0.04


Misc. Info

Last NAVs 52.49 52.68 52.57 52.87 50.35 48.25 49.81 49.99 49.00 46.98 49.98 52.63 54.39 50.15 54.39 46.98 2.22

Payouts 2.25

Net Assets 436.44 437.90 435.17 437.40 427.99 409.73 421.23 422.76 414.37 397.06 422.18 443.68 456.72 423.97 456.72 397.06 17.71

MoM + / (-) % in NA -0.06% 0.33% -0.62% 0.51% -2.15% -4.27% 2.81% 0.36% -1.98% -4.18% 6.33% 5.09% 2.94% 0.48% 6.33% -4.27% 3.94%

Total + / (-) YTD % in NA -7.28% -6.97% -7.55% -7.08% -2.15% -6.33% -3.70% -3.35% -5.26% -9.22% -3.48% 1.44% 4.42% -3.07% 4.42% -9.22% 4.05%





Active Return / Alpha 2.69% -1.62% -2.01% 0.40% -2.61% -6.08% 4.70% -3.10% -2.86% -6.83% 8.47% 4.35% 2.03% -0.34% 8.47% -6.83% 5.30%

Corelation 0.41 0.38 0.31 0.31 1.00 (0.46) (0.03) 0.08 0.27 0.14 (0.08) (0.10) 0.10 1.00 (0.46) 0.42

Beta 19.10 18.29 14.24 14.54 35.22 (46.72) (1.77) 3.24 11.28 9.14 (4.47) (6.06) (0.02) 35.22 (46.72) 23.00

R-Squared 0.16 0.15 0.10 0.10 1.00 0.21 0.00 0.01 0.07 0.02 0.01 0.01 0.17 1.00 0.00 0.34


Annualized Return (YTD) -12.78% -33.28% 0.72% -4.58% -7.31% -16.65% 1.16% 9.54% 13.26% -5.55% 13.26% -33.28% 14.20%


Absolute Return (YTD) -1.08% -5.64% 0.18% -1.54% -3.06% -8.37% 0.68% 6.36% 9.96% -0.28% 9.96% -8.37% 5.64%

Absolute Return (MoM) 4.22% -0.14% -0.48% 1.88% -1.08% -4.60% 6.16% -1.72% -1.54% -5.48% 9.88% 5.64% 3.39% 1.06% 9.88% -5.48% 5.29%

Sum Abs. Return (MoM) 12.03% 11.88% 11.41% 13.28% -1.08% -5.69% 0.48% -1.24% -2.78% -8.26% 1.62% 7.26% 10.64% 0.11% 10.64% -8.26% 5.91%


Risk Adjusted Return 3.07% -1.30% -1.63% 0.72% -2.26% -5.73% 5.07% -2.73% -2.57% -6.54% 8.82% 4.57% 2.30% -0.02% 8.82% -6.54% 5.29%

Coefficient of Variation 2.78 2.98 3.27 2.93 (0.88) 34.50 (14.79) (7.20) (2.98) 24.53 6.16 4.47 5.48 34.50 (14.79) 16.43

Sharpe 0.06 0.02 (0.03) (0.01) (1.60) (0.18) (0.31) (0.41) (0.60) (0.15) (0.03) 0.02 (0.41) 0.02 (1.60) 0.52

Sortino 0.10 0.03 (0.05) (0.01) (2.08) (1.19) (0.36) (0.56) (0.70) (0.79) (0.30) (0.06) 0.04 (0.67) 0.04 (2.08) 0.65

Treynor 0.00 0.00 (0.00) (0.00) (0.00) 0.00 0.01 (0.01) (0.00) (0.00) 0.00 (0.00) (0.00) 0.01 (0.01) 0.00

Jensen's Alpha (0.06) (0.06) (0.05) (0.05) (0.17) 0.16 (0.01) (0.03) (0.06) (0.04) 0.01 0.02 (0.01) 0.16 (0.17) 0.09

Tracking Error 3.69% 3.51% 3.37% 3.23% 2.45% 5.51% 4.58% 4.00% 4.09% 5.66% 5.59% 5.30% 4.65% 5.66% 2.45% 1.11%


VAMI 1.12 1.12 1.11 1.13 0.99 0.94 1.00 0.98 0.97 0.92 1.01 1.06 1.10 1.00 1.10 0.92 0.06

Excess Return on RFR 0.22% 0.07% -0.09% -0.02% -2.26% -3.99% -0.97% -1.41% -1.64% -2.46% -0.85% -0.17% 0.10% -1.52% 0.10% -3.99% 1.26%

Misc. Info

Last NAVs 40.5461 40.4884 40.2959 41.0517 40.6072 38.7374 41.1255 40.4198 39.7964 37.6154 41.3316 43.6622 45.1411 40.94 45.14 37.62 2.31

Payouts

Net Assets 160.91 158.87 158.23 177.15 175.24 167.43 176.85 175.55 172.96 167.70 179.89 197.91 202.20 179.52 202.20 167.43 12.36

MoM + / (-) % in NA 3.42% -1.27% -0.40% 11.96% -1.08% -4.46% 5.63% -0.74% -1.48% -3.04% 7.27% 10.01% 2.17% 1.48% 10.01% -4.46% 5.00%

Total + / (-) YTD % in NA -26.69% -27.62% -27.91% -19.29% -1.08% -5.49% -0.17% -0.90% -2.37% -5.33% 1.55% 11.72% 14.14% 1.34% 14.14% -5.49% 6.98%


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FOR FY 2011-12




Active Return / Alpha -1.82% -0.50% -0.09% -12.90% 20.95% 7.24% -3.31% 0.00% 1.68% 2.19% -4.83% -2.91% 2.48% 2.36% 20.95% -4.83% 7.80%

Corelation 0.74 0.74 0.74 0.55 1.00 0.27 0.22 0.30 0.38 0.34 0.33 0.33 0.40 1.00 0.22 0.25

Beta 0.35 0.36 0.37 0.49 1.30 0.28 0.27 0.40 0.54 0.37 0.34 0.34 0.48 1.30 0.27 0.34

R-Squared 0.55 0.55 0.55 0.30 1.00 0.07 0.05 0.09 0.14 0.12 0.11 0.11 0.21 1.00 0.05 0.32








Risk Adjusted Return 2.68% -0.34% -0.86% -15.57% 19.55% -2.66% 1.99% -0.81% -3.29% -4.62% 3.88% 2.58% 3.13% 1.98% 19.55% -4.62% 7.19%


Sharpe 0.23 0.21 0.17 (0.14) 0.54 0.54 0.44 0.31 0.19 0.24 0.27 0.30 0.35 0.54 0.19 0.13

Sortino 0.63 0.55 0.46 (0.18) 7.77 7.09 5.82 2.41 0.92 1.18 1.31 1.46 3.50 7.77 0.92 2.89

Treynor 0.02 0.02 0.02 (0.02) 0.06 0.23 0.17 0.07 0.03 0.05 0.06 0.06 0.09 0.23 0.03 0.07

Jensen's Alpha 0.00 0.00 0.00 (0.01) 0.16 0.07 0.05 0.04 0.03 0.03 0.02 0.02 0.05 0.16 0.02 0.05

Tracking Error 4.55% 4.29% 4.07% 5.32% 9.69% 12.16% 10.76% 9.54% 8.63% 8.67% 8.33% 7.80% 9.45% 12.16% 7.80% 1.43%


VAMI 1.18 1.19 1.20 1.02 1.21 1.19 1.23 1.23 1.20 1.16 1.21 1.26 1.31 1.22 1.31 1.16 0.04

Excess Return on RFR 0.81% 0.69% 0.55% -0.79% 19.55% 8.44% 6.29% 4.52% 2.95% 1.69% 2.00% 2.08% 2.19% 5.52% 19.55% 1.69% 5.74%

Misc. Info

Last NAVs 80.6542 81.3290 81.5803 69.8356 69.2148 68.1509 70.2551 70.3977 68.8062 66.3559 69.6316 72.1749 75.2249 70.02 75.22 66.36 2.53

Payouts 12.5000

Net Assets 334 334 334 332.58 327.35 323.50 331.30 330.73 321.09 308.80 323.69 332.00 114.56 301.45 332.00 114.56 70.44

MoM + / (-) % in NA 3.09% 0.00% 0.00% -0.43% -1.57% -1.18% 2.41% -0.17% -2.92% -3.83% 4.82% 2.57% -65.49% -11.17% 4.82% -65.49% 22.02%

Total + / (-) YTD % in NA -17.12% -17.12% -17.12% -17.47% -1.57% -2.73% -0.39% -0.56% -3.46% -7.15% -2.67% -0.17% -65.55% -9.36% -0.17% -65.55% 21.18%





Active Return / Alpha 0.11% -1.10% -0.72% -2.75% 0.37% -1.16% -3.78% -1.55% -1.81% -3.39% 1.04% -0.44% 1.00% -1.10% 1.04% -3.78% 1.76%

Corelation 0.85 0.85 0.85 0.84 1.00 0.85 0.85 0.85 0.80 0.80 0.87 0.88 0.86 1.00 0.80 0.06

Beta 0.59 0.60 0.61 0.62 0.73 0.42 0.48 0.53 0.55 0.79 0.89 0.99 0.67 0.99 0.42 0.21

R-Squared 0.72 0.72 0.72 0.71 1.00 0.71 0.73 0.73 0.64 0.64 0.75 0.77 0.75 1.00 0.64 0.11


Annualized Return (YTD) -3.26% -32.25% -22.13% -18.19% -20.76% -23.97% -14.74% -7.13% -0.08% -15.84% -0.08% -32.25% 10.54%

Annualized Return (MoM) -3.26% -61.41% -1.27% -6.90% -33.32% -43.60% 45.54% 53.96% 58.19% -8.33% 58.19% -61.41% 43.60%

Absolute Return (YTD) -0.28% -5.46% -5.56% -6.11% -8.68% -12.05% -8.66% -4.75% -0.06% -5.74% -0.06% -12.05% 3.88%

Absolute Return (MoM) 2.99% 0.52% 0.12% -0.65% -0.28% -5.20% -0.10% -0.58% -2.73% -3.69% 3.86% 4.28% 4.93% -0.01% 4.93% -5.20% 3.64%

Sum Abs. Return (MoM) 14.82% 15.34% 15.46% 14.80% -0.28% -5.48% -5.58% -6.17% -8.90% -12.59% -8.73% -4.46% 0.47% -5.75% 0.47% -12.59% 4.13%


Risk Adjusted Return 1.85% -0.62% -1.01% -1.80% -1.42% -6.31% -1.20% -1.60% -3.73% -4.72% 2.84% 3.25% 3.89% -1.06% 3.89% -6.31% 3.65%

Coefficient of Variation 2.43 2.47 2.57 2.83 (1.27) (1.56) (1.59) (1.23) (1.00) (2.37) (6.04) 69.70 6.83 69.70 (6.04) 25.45

Sharpe 0.13 0.11 0.08 0.03 (1.11) (1.03) (1.08) (1.31) (1.50) (0.78) (0.48) (0.27) (0.94) (0.27) (1.50) 0.41

Sortino 0.24 0.20 0.14 0.06 (5.16) (1.05) (0.99) (1.00) (1.08) (1.11) (0.88) (0.65) (0.43) (1.37) (0.43) (5.16) 1.44

Treynor 0.01 0.01 0.00 0.00 (0.05) (0.07) (0.05) (0.05) (0.06) (0.03) (0.02) (0.01) (0.04) (0.01) (0.07) 0.02

Jensen's Alpha (0.00) (0.00) (0.01) (0.01) (0.01) (0.02) (0.02) (0.02) (0.02) (0.02) (0.01) (0.01) (0.02) (0.01) (0.02) 0.01

Tracking Error 2.71% 2.55% 2.42% 2.36% 1.09% 2.10% 1.72% 1.49% 1.52% 1.78% 1.69% 1.76% 1.64% 2.10% 1.09% 0.29%


VAMI 1.15 1.16 1.16 1.15 1.00 0.95 0.94 0.94 0.91 0.88 0.91 0.95 1.00 0.94 1.00 0.88 0.04


Misc. Info

Last NAVs 57.84 58.14 58.21 57.83 50.56 47.93 47.88 47.60 46.30 44.59 46.31 48.29 50.67 47.79 50.67 44.59 1.97

Payouts 7.13

Net Assets 243.61 238.56 216.82 214.86 139.26 111.67 132.33 132.93 127.99 107.01 104.70 109.16 141.38 122.94 141.38 104.70 14.68

MoM + / (-) % in NA 104.01% -2.07% -9.11% -0.90% -35.18% -19.81% 18.50% 0.45% -3.71% -16.39% -2.16% 4.26% 29.52% -4.54% 29.52% -35.18% 19.63%

Total + / (-) YTD % in NA 135.17% 130.29% 109.31% 107.42% -35.18% -48.03% -38.41% -38.13% -40.43% -50.20% -51.27% -49.20% -34.20% -42.78% -34.20% -51.27% 6.83%


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FOR FY 2011-12




Active Return / Alpha 1.90% -1.73% -1.11% -3.48% -1.08% -0.37% 0.97% -1.50% 0.08% -1.81% -0.97% 0.77% -1.17% -0.57% 0.97% -1.81% 0.99%

Corelation 0.77 0.76 0.76 0.73 1.00 0.85 0.70 0.68 0.56 0.77 0.86 0.89 0.79 1.00 0.56 0.14

Beta 1.02 1.03 1.05 1.05 0.30 0.88 0.66 0.66 0.55 0.68 0.92 0.86 0.69 0.92 0.30 0.20

R-Squared 0.59 0.57 0.57 0.53 1.00 0.72 0.49 0.46 0.31 0.60 0.75 0.79 0.64 1.00 0.31 0.22



Annualized Return (MoM) -12.71% -25.33% 17.58% -6.20% -7.01% -14.56% 21.65% 50.73% 39.64% 4.31% 50.73% -25.33% 26.39%


Absolute Return (MoM) 5.12% -0.06% -0.15% -1.64% -1.08% -2.15% 1.44% -0.52% -0.57% -1.23% 1.83% 4.02% 3.36% 0.55% 4.02% -2.15% 2.18%


Benchmark Return 3.22% 1.67% 0.96% 1.84% 0.00% -1.78% 0.47% 0.98% -0.65% 0.58% 2.80% 3.25% 4.52% 1.11% 4.52% -1.78% 2.01%



Sharpe 0.27 0.23 0.19 0.12 (3.61) (0.93) (1.11) (1.26) (1.46) (0.95) (0.41) (0.22) (1.24) (0.22) (3.61) 1.04

Sortino 0.56 0.48 0.40 0.26 (2.06) (1.61) (1.23) (1.35) (1.46) (1.52) (1.30) (0.84) (0.51) (1.32) (0.51) (2.06) 0.45

Treynor 0.01 0.01 0.01 0.00 (0.09) (0.02) (0.03) (0.02) (0.03) (0.02) (0.01) (0.01) (0.03) (0.01) (0.09) 0.03

Jensen's Alpha 0.01 0.00 0.00 (0.00) (0.02) (0.00) (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) (0.00) (0.02) 0.01

Tracking Error 3.05% 2.98% 2.87% 2.95% 0.50% 1.04% 1.08% 0.97% 1.05% 0.97% 1.03% 0.99% 0.95% 1.08% 0.50% 0.19%

Information Ratio 0.24 0.16 0.12 0.01 (1.43) (0.15) (0.46) (0.39) (0.59) (0.69) (0.48) (0.57) (0.60) (0.15) (1.43) 0.38

VAMI 1.23 1.23 1.23 1.21 0.99 0.97 0.98 0.98 0.97 0.96 0.98 1.02 1.05 0.99 1.05 0.96 0.03


Misc. Info

Last NAVs 72.04 72.00 71.89 70.71 65.25 63.85 64.77 64.43 64.06 63.27 64.43 67.02 69.27 65.15 69.27 63.27 1.87

Payouts 4.75

Net Assets 352.99 369.27 355.00 351.58 307.23 300.58 318.79 302.69 303.06 299.23 305.20 317.22 313.30 307.48 318.79 299.23 7.25

MoM + / (-) % in NA 33.45% 4.61% -3.86% -0.96% -12.61% -2.16% 6.06% -5.05% 0.12% -1.26% 2.00% 3.94% -1.24% -1.27% 6.06% -12.61% 5.44%

Total + / (-) YTD % in NA 15.54% 20.87% 16.20% 15.08% -12.61% -14.50% -9.33% -13.91% -13.80% -14.89% -13.19% -9.77% -10.89% -12.54% -9.33% -14.89% 2.06%





Active Return / Alpha 0.15% -0.43% 0.31% 1.04% 0.53% 1.83% -1.15% 0.70% -0.28% 0.97% 0.44% 2.03% 2.34% 0.82% 2.34% -1.15% 1.13%

Corelation 0.86 0.84 0.84 0.84 1.00 0.98 0.94 0.83 0.85 0.91 0.88 0.85 0.90 1.00 0.83 0.06

Beta 0.69 0.71 0.72 0.72 0.27 0.28 0.32 0.42 0.44 0.63 0.76 0.79 0.49 0.79 0.27 0.21

R-Squared 0.75 0.71 0.71 0.71 1.00 0.96 0.89 0.68 0.71 0.82 0.78 0.73 0.82 1.00 0.68 0.12





Absolute Return (MoM) 2.62% 0.57% 1.06% 1.13% 1.02% -0.52% 1.55% 1.35% -1.07% -0.43% 4.15% 4.67% 3.46% 1.55% 4.67% -1.07% 2.11%


Benchmark Return 2.47% 1.00% 0.75% 0.09% 0.49% -2.35% 2.70% 0.65% -0.79% -1.40% 3.71% 2.64% 1.12% 0.73% 3.71% -2.35% 2.03%



Sharpe 0.48 0.40 0.37 0.35 (0.80) (0.40) (0.25) (0.51) (0.66) (0.11) 0.14 0.25 (0.29) 0.25 (0.80) 0.37

Sortino 3.44 2.24 1.33 0.98 (0.12) (1.08) (0.65) (0.42) (0.86) (1.12) (0.31) 0.51 0.98 (0.34) 0.98 (1.12) 0.71

Treynor 0.01 0.01 0.01 0.01 (0.03) (0.02) (0.01) (0.01) (0.02) (0.00) 0.00 0.01 (0.01) 0.01 (0.03) 0.01

Jensen's Alpha 0.01 0.01 0.01 0.01 (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.01 0.01 0.00 0.01 (0.00) 0.00

Tracking Error 0.94% 0.95% 0.90% 0.87% 0.92% 1.49% 1.23% 1.12% 1.03% 0.94% 1.04% 1.13% 1.11% 1.49% 0.92% 0.18%


VAMI 1.16 1.17 1.18 1.19 1.01 1.00 1.02 1.03 1.02 1.02 1.06 1.11 1.15 1.05 1.15 1.00 0.05


Misc. Info

Last NAVs 11.3122 11.0762 11.1941 11.3204 10.3748 10.3209 10.4809 10.6221 10.5084 10.4630 10.8968 11.4058 11.7999 10.76 11.80 10.32 0.51

Payouts 0.3000 1.0500

Net Assets 233 236 247 282.72 301.29 319.40 359.63 378.55 388.24 402.04 396.62 429.78 437.69 379.25 437.69 301.29 45.98

MoM + / (-) % in NA 4.95% 1.29% 4.66% 14.46% 6.57% 6.01% 12.59% 5.26% 2.56% 3.56% -1.35% 8.36% 1.84% 4.98% 12.59% -1.35% 4.04%

Total + / (-) YTD % in NA 126.21% 129.13% 139.81% 174.48% 6.57% 12.98% 27.20% 33.90% 37.32% 42.21% 40.29% 52.02% 54.82% 34.14% 54.82% 6.57% 16.26%


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FOR FY 2011-12



Downside Deviation 0.54% 0.66% 0.69% 0.73% 0.72% 0.68% 0.67% 0.73% 0.54% 0.07%

Active Return / Alpha 1.01% 0.15% -0.30% -1.50% -1.59% -0.50% -0.46% 1.01% -1.59% 0.99%

Corelation 1.00 0.93 0.93 0.64 0.49 0.80 1.00 0.49 0.22

Beta 10.26% 9.69% 7.95% 5.17% 6.25% 0.08 0.10 0.05 0.02

R-Squared 1.00 0.86 0.87 0.41 0.24 0.68 1.00 0.24 0.33







Benchmark Return -0.47% 0.61% 1.04% 2.36% 2.24% 0.91% 1.11% 2.36% -0.47% 1.06%

Risk Adjusted Return -0.48% -0.23% -0.27% -0.14% -0.35% -0.61% -0.35% -0.14% -0.61% 0.17%


Sharpe (2.27) (2.69) (2.12) (2.48) (2.14) (2.34) (2.12) (2.69) 0.24

Sortino (0.89) (0.54) (0.48) (0.38) (0.41) (0.51) (0.54) (0.38) (0.89) 0.18

Treynor (0.03) (0.03) (0.04) (0.06) (0.06) (0.04) (0.03) (0.06) 0.01

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 0.01 0.67% 1.05% 1.11% 0.99% 0.88% 1.11% 0.61% 0.23%

Information Ratio 0.96 0.43 (0.15) (0.40) (0.46) 0.07 0.96 (0.46) 0.61

VAMI 1.01 1.01 1.02 1.03 1.04 1.04 1.02 1.04 1.01 0.01


Misc. Info

Last NAVs 100.5399 101.3054 102.0528 102.9262 103.6000 104.0251 102.41 104.03 100.54 1.35

Payouts

Net Assets 310.23 313.19 315.61 318.12 320.20 321.51 316.48 321.51 310.23 4.30

MoM + / (-) % in NA 0.95% 0.77% 0.79% 0.65% 0.41% 0.72% 0.95% 0.41% 0.20%

Total + / (-) YTD % in NA 0.95% 1.73% 2.54% 3.21% 3.64% 2.42% 3.64% 0.95% 1.09%

Risk Free Rate (MoM) 1.02% 0.99% 1.01% 1.00% 1.01% 1.02% 1.01% 1.02% 0.99% 0.01%




Active Return / Alpha 3.64% 1.37% 0.04% -3.41% -1.97% 0.79% 0.05% 3.64% -3.41% 2.50%

Corelation 1.00 0.93 0.93 0.75 0.58 0.84 1.00 0.58 0.17

Beta 4.26% 3.82% 2.97% 2.46% 3.36% 0.03 0.04 0.02 0.01

R-Squared 1.00 0.86 0.86 0.56 0.34 0.72 1.00 0.34 0.27







Benchmark Return -3.10% -0.62% 0.70% 4.26% 2.62% -0.44% 0.54% 4.26% -3.10% 2.60%



Sharpe (2.42) (2.77) (2.17) (2.54) (2.00) (2.38) (2.00) (2.77) 0.30

Sortino (0.90) (0.56) (0.48) (0.39) (0.42) (0.54) (0.55) (0.39) (0.90) 0.18

Treynor (0.09) (0.09) (0.10) (0.12) (0.11) (0.10) (0.09) (0.12) 0.02

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 1.60% 1.82% 2.95% 2.76% 2.50% 2.33% 2.95% 1.60% 0.59%

Information Ratio 1.56 0.92 0.14 (0.02) 0.03 0.53 1.56 (0.02) 0.69

VAMI 1.01 1.01 1.02 1.03 1.04 1.04 1.02 1.04 1.01 0.01


Misc. Info

Last NAVs 100.5378 101.2912 102.0408 102.9091 103.5827 103.9417 102.38 103.94 100.54 1.33

Payouts

Net Assets 309.86 312.60 315.03 317.71 319.79 320.89 315.98 320.89 309.86 4.27

MoM + / (-) % in NA 0.89% 0.78% 0.85% 0.65% 0.34% 0.70% 0.89% 0.34% 0.22%

Total + / (-) YTD % in NA 0.89% 1.67% 2.53% 3.20% 3.56% 2.37% 3.56% 0.89% 1.10%


LAK

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FOR FY 2011-12




Active Return / Alpha -0.63% -0.40% 0.44% -1.17% -1.81% 0.61% -0.50% 0.61% -1.81% 0.93%

Corelation (1.00) (0.40) 0.35 0.05 0.62 (0.08) 0.62 (1.00) 0.64

Beta (25.50) -6.20% 4.74% 0.55% 10.07% (5.08) 0.10 (25.50) 11.42

R-Squared 1.00 0.16 0.12 0.00 0.38 0.33 1.00 0.00 0.40







Benchmark Return 1.17% 1.17% 0.30% 2.02% 2.46% -0.33% 1.13% 2.46% -0.33% 1.04%



Sharpe (2.28) (2.74) (2.21) (2.57) (1.81) (2.32) (1.81) (2.74) 0.36

Sortino (0.86) (0.52) (0.47) (0.38) (0.41) (0.55) (0.53) (0.38) (0.86) 0.17

Treynor 0.00 0.05 (0.06) (0.54) (0.04) (0.12) 0.05 (0.54) 0.24

Jensen's Alpha 0.04 (0.00) (0.00) (0.00) (0.00) 0.01 0.04 (0.00) 0.02

Tracking Error 0.16% 0.56% 0.67% 0.84% 0.93% 0.63% 0.93% 0.16% 0.30%

Information Ratio (3.29) (0.35) (0.66) (0.85) (0.53) (1.14) (0.35) (3.29) 1.22

VAMI 1.01 1.01 1.02 1.03 1.04 1.04 1.02 1.04 1.01 0.01


Misc. Info

Last NAVs 100.5487 101.3184 102.0655 102.9316 103.6041 103.8929 102.39 103.89 100.55 1.32

Payouts

Net Assets 354.69 357.85 360.50 363.56 365.90 366.87 361.56 366.87 354.69 4.76

MoM + / (-) % in NA 0.89% 0.74% 0.85% 0.64% 0.27% 0.68% 0.89% 0.27% 0.25%

Total + / (-) YTD % in NA 0.89% 1.64% 2.50% 3.16% 3.43% 2.32% 3.43% 0.89% 1.06%





Active Return / Alpha 0.98% -1.01% -1.96% -3.05% 1.83% -0.26% -0.88% -0.39% -0.32% -1.22% 0.30% -0.18% 1.25% 0.01% 1.83% -1.22% 0.98%

Corelation 0.79 0.78 0.75 0.72 0.75 0.54 0.55 0.51 0.57 0.67 0.61 0.63 0.60 0.75 0.51 0.08

Beta 3.02 2.93 2.45 2.51 4.72 (5.51) 0.10 (1.73) 1.34 1.27 0.09 (0.03) 0.03 4.72 (5.51) 2.91

R-Squared 0.65 0.64 0.59 0.56 1.00 0.56 0.49 0.59 0.49 0.54 0.49 0.48 0.58 1.00 0.48 0.17





Absolute Return (MoM) 4.45% 0.40% -1.15% -2.50% 1.92% -3.29% 2.69% -0.06% -1.27% -2.32% 4.56% 3.51% 3.01% 0.94% 4.56% -3.29% 2.79%



Risk Adjusted Return 3.31% -0.75% -2.29% -3.65% 0.76% -4.40% 1.59% -1.08% -2.27% -3.34% 3.54% 2.49% 1.97% -0.12% 3.54% -4.40% 2.80%

Coefficient of Variation 2.74 2.77 (1.48) 2.95 0.10 4.51 5.97 (1.38) (0.38) (9.38) (0.23) 10.47 1.21 10.47 (9.38) 5.90

Sharpe 0.14 0.11 0.05 (0.02) (1.77) (0.46) (0.52) (1.14) (1.38) (0.84) (0.78) (0.55) (0.93) (0.46) (1.77) 0.47

Sortino 0.62 0.42 0.23 0.05 (2.76) (0.10) 0.23 (0.22) (0.54) (0.72) (0.39) (0.17) (0.04) (0.52) 0.23 (2.76) 0.88

Treynor 0.01 0.01 0.00 (0.00) (0.06) 0.04 0.02 (0.04) (0.03) (0.02) (0.06) (0.01) (0.02) 0.04 (0.06) 0.04

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.02) 0.02 (0.00) (0.00) (0.01) (0.01) (0.00) 0.00 (0.00) 0.02 (0.02) 0.01

Tracking Error 2.53% 2.41% 2.52% 2.63% 3.31% 4.01% 3.48% 2.47% 2.40% 2.77% 2.71% 2.65% 2.98% 4.01% 2.40% 0.57%

Information Ratio (0.09) (0.14) (0.17) (0.23) (0.22) (0.23) -31.68% -30.33% -19.87% -21.57% -22.65% -14.13% (0.23) (0.14) (0.32) 0.06

VAMI 1.15 1.15 1.14 1.11 1.02 0.99 1.01 1.01 1.00 0.97 1.02 1.05 1.08 1.02 1.08 0.97 0.03

Excess Return on RFR 0.50% 0.37% 0.13% -0.19% 0.76% -1.82% -0.68% -0.74% -1.03% -1.41% -0.70% -0.30% -0.05% -0.66% 0.76% -1.82% 0.76%

Misc. Info

Last NAVs 47.69 47.85 47.31 45.53 43.21 41.76 42.83 58.46 58.07 57.21 59.05 60.62 61.98 53.69 61.98 41.76 8.44

Payouts 0.30 5.54

Net Assets 289.16 290.64 281.32 291.64 268.23 259.70 274.32 287.76 286.09 280.85 289.11 300.31 287.29 281.52 300.31 259.70 12.29

MoM + / (-) % in NA 20.11% 0.32% -2.63% 3.47% -7.96% -4.46% 6.70% -0.35% -1.08% -3.08% 3.26% 4.11% -1.81% -0.61% 6.70% -7.96% 4.57%

Total + / (-) YTD % in NA 25.53% 25.83% 22.54% 27.82% -7.96% -11.35% -5.80% -5.89% -5.10% -7.27% -4.40% -0.35% -3.40% -5.72% -0.35% -11.35% 3.07%


Category NA 2,313.30 2,325.10 2,250.57 2,333.15 2,145.80 2,077.61 2,194.53 3,165.38 3,146.98 3,089.31 3,180.21 3,303.44 3,160.16 2,829.27 3,303.44 2,077.61 521.30

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CONVENTIONAL INDEX TRACKER FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min Std. Dev.




Active Return / Alpha -0.16% -0.27% -0.07% -0.46% 0.01% -0.12% -0.33% -0.07% -0.02% -0.23% -0.36% -0.40% -0.51% -0.23% 0.01% -0.51% 0.18%

Corelation 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00

Beta 0.88 0.89 0.90 0.90 0.51 0.66 0.74 0.79 0.82 0.84 0.86 0.87 0.76 0.87 0.51 0.12

R-Squared 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00








Risk Adjusted Return 3.28% 0.65% -0.69% 1.45% -3.61% -10.43% 4.81% -0.18% -3.88% -2.89% 3.23% 6.97% 5.26% -0.22% 6.97% -10.43% 5.65%


Sharpe 0.17 0.17 0.15 0.17 (1.45) (0.40) (0.37) (0.48) (0.54) (0.37) (0.13) (0.01) (0.47) (0.01) (1.45) 0.43

Sortino 0.27 0.28 0.24 0.27 (1.48) (1.03) (0.55) (0.49) (0.59) (0.65) (0.48) (0.21) (0.02) (0.61) (0.02) (1.48) 0.43

Treynor 0.01 0.01 0.01 0.01 (0.14) (0.05) (0.03) (0.03) (0.03) (0.02) (0.01) (0.00) (0.04) (0.00) (0.14) 0.04

Jensen's Alpha (0.00) (0.00) (0.00) (0.00) (0.03) (0.01) (0.01) (0.01) (0.01) (0.00) (0.00) (0.00) (0.01) (0.00) (0.03) 0.01

Tracking Error 0.13% 0.12% 0.12% 0.14% 0.09% 0.17% 0.15% 0.13% 0.13% 0.15% 0.16% 0.18% 0.15% 0.18% 0.09% 0.03%


VAMI 1.19 1.21 1.22 1.25 0.98 0.88 0.94 0.95 0.92 0.90 0.94 1.02 1.08 0.96 1.08 0.88 0.06


Misc. Info

Last NAVs 8.2100 8.3600 8.4000 8.6200 8.4100 7.6275 8.0786 8.1460 7.9135 7.7682 8.1011 8.7528 9.3089 8.23 9.31 7.63 0.52

Payouts

Net Assets 175.37 176.61 177.40 190.67 182.01 164.74 174.53 178.72 173.62 174.78 184.71 191.60 193.23 179.77 193.23 164.74 9.14

MoM + / (-) % in NA 4.12% 0.71% 0.45% 7.48% -4.54% -9.49% 5.94% 2.40% -2.85% 0.67% 5.68% 3.73% 0.85% 0.15% 5.94% -9.49% 5.08%

Total + / (-) YTD % in NA 14.24% 15.05% 15.56% 24.20% -4.54% -13.60% -8.47% -6.27% -8.94% -8.33% -3.13% 0.49% 1.35% -5.71% 1.35% -13.60% 4.79%





Active Return / Alpha 1.84% -0.21% 0.06% 0.88% -0.30% 0.59% 0.31% 1.12% 0.44% 0.53% -0.71% 0.30% 2.73% 0.55% 2.73% -0.71% 0.97%

Corelation 0.99 0.99 0.99 0.99 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.99 1.00 1.00 0.99 0.00

Beta 0.88 0.90 0.91 0.91 0.45 0.65 0.74 0.79 0.82 0.81 0.84 0.86 0.74 0.86 0.45 0.14

R-Squared 0.98 0.98 0.98 0.98 1.00 1.00 0.99 0.99 0.99 0.99 0.99 0.98 0.99 1.00 0.98 0.01








Risk Adjusted Return 6.34% -0.04% -0.71% -1.80% -1.70% -9.31% 5.62% 0.31% -4.53% -6.28% 8.00% 5.79% 3.39% -0.02% 8.00% -9.31% 6.02%


Sharpe 0.25 0.24 0.22 0.18 (1.02) (0.24) (0.21) (0.35) (0.50) (0.18) (0.04) 0.02 (0.31) 0.02 (1.02) 0.33

Sortino 0.43 0.41 0.37 0.31 (3.22) (0.95) (0.38) (0.31) (0.48) (0.63) (0.29) (0.07) 0.04 (0.70) 0.04 (3.22) 0.99

Treynor 0.02 0.02 0.01 0.01 (0.12) (0.03) (0.02) (0.02) (0.03) (0.01) (0.00) 0.00 (0.03) 0.00 (0.12) 0.04

Jensen's Alpha 0.01 0.01 0.01 0.01 (0.03) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) 0.00 (0.03) 0.01

Tracking Error 0.94% 0.92% 0.88% 0.85% 0.63% 0.45% 0.59% 0.51% 0.46% 0.61% 0.56% 0.97% 0.60% 0.97% 0.45% 0.16%

Information Ratio 0.59 0.52 0.50 0.56 22.76% 44.02% 72.78% 84.26% 97.34% 46.51% 50.63% 57.29% 0.59 0.97 0.23 0.24

VAMI 1.26 1.27 1.28 1.27 0.99 0.91 0.97 0.99 0.95 0.90 0.98 1.05 1.10 0.98 1.10 0.90 0.06


Misc. Info

Last NAVs 30.04 30.38 30.52 30.33 30.17 27.70 29.56 29.95 28.90 27.39 29.87 31.92 33.35 29.87 33.35 27.39 1.88

Payouts

Net Assets 73.85 74.09 68.70 60.58 59.82 54.59 57.23 60.32 57.31 53.55 58.47 59.63 88.03 60.99 88.03 53.55 10.40

MoM + / (-) % in NA 7.01% 0.32% -7.27% -11.82% -1.25% -8.75% 4.83% 5.40% -4.99% -6.57% 9.20% 1.98% 47.64% 4.24% 47.64% -8.75% 16.98%

Total + / (-) YTD % in NA 5.80% 6.15% -1.58% -13.20% -1.25% -9.89% -5.54% -0.44% -5.40% -11.62% -3.49% -1.57% 45.31% 0.68% 45.31% -11.62% 17.17%


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CONVENTIONAL INDEX TRACKER FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min Std. Dev.

FOR FY 2011-12




Active Return / Alpha 0.08% -0.05% -0.36% -0.17% 0.72% 0.58% -0.74% -0.76% 0.26% 0.37% -1.12% -0.44% -0.22% -0.15% 0.72% -1.12% 0.66%

Corelation 0.95 0.95 0.95 0.95 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00

Beta 0.80 0.81 0.83 0.83 0.51 0.61 0.68 0.72 0.76 0.78 0.80 0.82 0.71 0.82 0.51 0.11

R-Squared 0.91 0.90 0.90 0.91 1.00 1.00 0.99 0.99 0.99 1.00 1.00 1.00 1.00 1.00 0.99 0.00






Sum Abs. Return (MoM) 14.39% 15.74% 16.45% 15.88% -0.88% -8.59% -2.03% -2.29% -4.83% -11.26% 0.42% 6.48% 9.96% -1.45% 9.96% -11.26% 6.68%


Risk Adjusted Return 5.77% 0.17% -0.47% -1.74% -2.05% -8.84% 5.46% -1.27% -3.57% -7.49% 10.62% 4.99% 2.39% -0.15% 10.62% -8.84% 6.38%

Coefficient of Variation 2.36 2.30 2.35 2.60 (1.13) (10.53) (10.18) (5.30) (2.72) 116.50 8.34 5.77 12.59 116.50 (10.53) 42.52

Sharpe 0.22 0.21 0.18 0.13 (1.13) (0.25) (0.29) (0.40) (0.58) (0.15) (0.04) 0.00 (0.35) 0.00 (1.13) 0.37

Sortino 0.34 0.33 0.28 0.20 (2.34) (0.99) (0.40) (0.43) (0.56) (0.70) (0.26) (0.07) 0.01 (0.64) 0.01 (2.34) 0.71

Treynor 0.02 0.01 0.01 0.01 (0.11) (0.03) (0.02) (0.03) (0.04) (0.01) (0.00) 0.00 (0.03) 0.00 (0.11) 0.03

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.02) (0.01) (0.01) (0.01) (0.01) (0.00) (0.00) (0.00) (0.01) (0.00) (0.02) 0.01

Tracking Error 1.74% 1.63% 1.52% 1.44% 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.65% 0.81% 0.10% 0.23%

Information Ratio (0.57) (0.53) (0.53) (0.51) 6.68 0.23 (0.06) 0.02 0.11 (0.13) (0.20) (0.23) 0.80 6.68 (0.23) 2.38

VAMI 1.14 1.16 1.17 1.16 0.99 0.91 0.97 0.97 0.95 0.89 0.99 1.05 1.09 0.98 1.09 0.89 0.06


Misc. Info

Last NAVs 57.18 57.95 58.36 58.03 55.34 51.07 54.42 54.28 52.90 49.50 55.28 58.63 60.67 54.68 60.67 49.50 3.46

Payouts 2.20

Net Assets 120 120 120 122.69 121.44 109.69 117.05 116.50 113.55 106.25 118.89 115.16 118.63 115.24 121.44 106.25 4.78

MoM + / (-) % in NA 9.09% 0.00% 0.00% 2.24% -1.01% -9.68% 6.71% -0.47% -2.54% -6.42% 11.89% -3.13% 3.01% -0.37% 11.89% -9.68% 6.59%

Total + / (-) YTD % in NA 14.29% 14.29% 14.29% 16.84% -1.01% -10.59% -4.60% -5.04% -7.45% -13.40% -3.10% -6.13% -3.31% -6.07% -1.01% -13.40% 3.89%





Active Return / Alpha 0.59% -0.18% -0.12% 0.08% 0.14% 0.35% -0.25% 0.10% 0.22% 0.22% -0.73% -0.18% 0.67% 0.06% 0.67% -0.73% 0.40%

Corelation 0.98 0.98 0.98 0.98 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00

Beta 0.85 0.87 0.88 0.88 0.49 0.64 0.72 0.77 0.80 0.81 0.83 0.85 0.74 0.85 0.49 0.12

R-Squared 0.96 0.96 0.96 0.96 1.00 1.00 0.99 0.99 1.00 1.00 1.00 0.99 1.00 1.00 0.99 0.00








Risk Adjusted Return 5.13% 0.26% -0.62% -0.70% -2.45% -9.53% 5.30% -0.38% -3.99% -5.55% 7.28% 5.92% 3.68% -0.12% 7.28% -9.53% 5.85%


Sharpe 0.21 0.21 0.18 0.16 (1.20) (0.30) (0.29) (0.41) (0.54) (0.23) (0.07) 0.00 (0.38) 0.00 (1.20) 0.37

Sortino 0.35 0.34 0.30 0.26 (2.35) (0.99) (0.45) (0.41) (0.54) (0.66) (0.34) (0.12) 0.01 (0.65) 0.01 (2.35) 0.70

Treynor 0.02 0.01 0.01 0.01 (0.12) (0.03) (0.02) (0.03) (0.03) (0.02) (0.01) 0.00 (0.03) 0.00 (0.12) 0.04

Jensen's Alpha 0.00 (0.00) (0.00) (0.00) (0.03) (0.01) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.01) 0.00 (0.03) 0.01

Tracking Error 0.93% 0.89% 0.84% 0.81% 0.27% 0.48% 0.52% 0.45% 0.42% 0.50% 0.48% 0.61% 0.46% 0.61% 0.27% 0.10%

Information Ratio (0.55) (0.61) (0.56) (0.52) 2.10 (0.06) (0.07) 0.02 0.03 (0.25) (0.29) (0.29) 0.15 2.10 (0.29) 0.80

VAMI 1.20 1.22 1.22 1.23 0.99 0.90 0.96 0.97 0.94 0.90 0.97 1.04 1.09 0.97 1.09 0.90 0.06


Misc. Info

Last NAVs 31.81 32.23 32.43 32.33 31.31 28.80 30.69 30.79 29.90 28.22 31.08 33.10 34.44 30.93 34.44 28.22 1.94

Payouts 2.20

Net Assets 123.07 123.57 122.03 124.65 121.09 109.68 116.27 118.51 114.82 111.53 120.69 122.13 133.30 118.67 133.30 109.68 6.97

MoM + / (-) % in NA 6.74% 0.34% -2.28% -0.70% -2.27% -9.30% 5.82% 2.44% -3.46% -4.11% 8.92% 0.86% 17.17% 1.52% 17.17% -9.30% 7.96%

Total + / (-) YTD % in NA 11.44% 11.83% 9.42% 9.28% -2.27% -11.36% -6.20% -3.92% -7.27% -11.12% -3.24% -2.41% 14.45% -3.70% 14.45% -11.36% 7.63%


Category NA 369.22 370.70 366.10 373.94 363.27 329.03 348.80 355.54 344.47 334.58 362.06 366.40 399.90 356.00 399.90 329.03 20.90

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ISLAMIC MONEY MARKET FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min SD





Corelation 0.59 0.59 0.58 0.59 1.00 0.19 0.27 0.90 0.93 0.88 0.89 0.91 0.74 1.00 0.19 0.32

Beta 1.66 1.80 1.99 2.08 18.74 0.43 0.65 2.44 2.56 2.00 2.49 2.51 3.98 18.74 0.43 6.03

R-Squared 0.35 0.35 0.34 0.35 1.00 0.04 0.07 0.80 0.87 0.77 0.80 0.82 0.65 1.00 0.04 0.37










Sharpe (4.16) (4.03) (3.66) (3.72) (7.72) (10.40) (11.00) (4.43) (3.94) (3.89) (3.13) (3.14) (5.96) (3.13) (11.00) 3.27

Sortino (0.26) (0.25) (0.24) (0.24) (0.22) (0.18) (0.17) (0.16) (0.15) (0.15) (0.14) (0.14) (0.14) (0.16) (0.14) (0.22) 0.03

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Jensen's Alpha 0.00 0.00 0.01 0.01 0.08 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.08 0.00 0.03

Tracking Error 0.05% 0.05% 0.05% 0.05% 0.02% 0.02% 0.01% 0.02% 0.02% 0.02% 0.03% 0.03% 0.02% 0.03% 0.01% 0.01%


VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.07 1.08 1.05 1.08 1.01 0.03


Misc. Info

Last NAVs 50.06 50.52 50.15 50.61 50.49 50.12 50.14 50.17 50.11 50.15 50.16 50.14 50.17 50.18 50.49 50.11 0.12

Payouts 1.35 0.85 0.58 0.85 0.45 0.44 0.49 0.40 0.43 0.44 0.40 0.49 0.85 0.40 0.15

Net Assets 6,376 6,266 5,648 5,955.83 5,808.80 6,514.97 5,807.29 6,362.93 6,532.42 6,601.07 6,620.55 6,873.58 7,742.00 6,540.40 7,742.00 5,807.29 577.69

MoM + / (-) % in NA 0.57% -1.73% -9.86% 5.45% -2.47% 12.16% -10.86% 9.57% 2.66% 1.05% 0.30% 3.82% 12.63% 2.96% 12.63% -10.86% 7.53%

Total + / (-) YTD % in NA 22.05% 19.95% 8.12% 14.01% -2.47% 9.39% -2.49% 6.84% 9.68% 10.83% 11.16% 15.41% 29.99% 9.82% 29.99% -2.49% 9.70%


Standard Deviation 0.18% 0.05% 0.03% 0.03% 0.03% 0.04% 0.04% 0.05% 0.05% 0.04% 0.05% 0.03% 0.01%

Downside Deviation 0.60% 0.74% 0.88% 0.85% 0.85% 0.85% 0.84% 0.84% 0.83% 0.82% 0.82% 0.84% 0.88% 0.82% 0.02%

Active Return / Alpha 0.06% 0.15% 0.18% 0.12% 0.27% 0.21% 0.14% 0.13% 0.11% 0.18% -5.81% -0.52% 0.27% -5.81% 1.99%

Corelation 1.00 1.00 (0.13) (0.12) (0.07) (0.09) (0.10) 0.44 0.08 0.13 1.00 (0.13) 0.40

Beta 0.77 7.95 (0.05) (0.05) (0.04) (0.07) (0.08) 0.36 0.00 1.00 7.95 (0.08) 2.81

R-Squared 1.00 1.00 0.02 0.02 0.01 0.01 0.01 0.20 0.01 0.16 1.00 0.01 0.35


Annualized Return (YTD) 9.92% 10.51% 10.39% 10.04% 10.23% 10.30% 10.23% 10.13% 10.03% 9.96% 9.96% 10.14% 10.39% 9.96% 0.15%

Annualized Return (MoM) 9.92% 10.96% 10.39% 9.60% 10.44% 10.26% 9.80% 9.44% 9.21% 9.31% 9.76% 9.79% 10.44% 9.21% 0.47%


Absolute Return (MoM) 0.60% 0.86% 0.88% 0.81% 0.86% 0.87% 0.80% 0.80% 0.78% 0.74% 0.83% 0.82% 0.88% 0.74% 0.05%

Sum Abs. Return (MoM) 0.60% 1.46% 0.88% 1.69% 2.55% 3.42% 4.22% 5.02% 5.80% 6.54% 7.37% 4.17% 7.37% 0.88% 2.22%

Benchmark Return 0.54% 0.71% 0.70% 0.70% 0.59% 0.66% 0.66% 0.67% 0.67% 0.56% 6.64% 0.84% 6.64% 0.56% 2.00%

Risk Adjusted Return -0.50% -0.26% -0.25% -0.27% -0.23% -0.15% -0.17% -0.19% -0.19% -0.24% -0.16% -0.21% -0.15% -0.27% 0.04%

Coefficient of Variation 0.25 0.06 0.04 0.03 0.04 0.04 0.05 0.06 0.06 0.05 0.06 0.03 0.01

Sharpe (2.07) (5.53) (7.43) (7.76) (6.32) (5.92) (5.34) (4.39) (4.55) (5.90) (4.39) (7.76) 1.23

Sortino (0.83) (0.51) (0.28) (0.31) (0.29) (0.26) (0.25) (0.25) (0.25) (0.26) (0.25) (0.27) (0.25) (0.31) 0.02

Treynor (0.00) (0.00) 0.06 0.04 0.05 0.03 0.02 (0.01) (1.30) (0.14) 0.06 (1.30) 0.47

Jensen's Alpha (0.00) 0.03 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.03 (0.00) 0.01

Tracking Error 0.06% 0.04% 0.08% 0.06% 0.06% 0.06% 0.06% 0.05% 1.99% 0.30% 1.99% 0.04% 0.68%

Information Ratio 1.57 3.33 2.42 3.01 3.07 3.05 2.91 3.16 (0.25) 2.59 3.33 (0.25) 1.18

VAMI 1.01 1.01 1.01 1.02 1.03 1.03 1.04 1.05 1.06 1.07 1.08 1.04 1.08 1.01 0.02

Excess Return on RFR -0.50% -0.38% -0.25% -0.26% -0.25% -0.23% -0.22% -0.21% -0.21% -0.21% -0.21% -0.23% -0.21% -0.26% 0.02%

Misc. Info

Last NAVs 100.5979 101.4612 100.8810 101.7017 102.5724 101.2138 102.0269 102.8424 101.3946 102.1428 102.9871 101.97 102.99 100.88 0.74

Payouts 1.4600 2.2500 2.2500 2.25 2.25 2.25 0.00

Net Assets 391.97 397.44 401.82 405.16 410.62 412.15 441.93 425.54 429.27 434.76 437.67 422.10 441.93 401.82 14.95

MoM + / (-) % in NA 1.40% 1.10% 0.83% 1.35% 0.37% 7.23% -3.71% 0.88% 1.28% 0.67% 1.08% 7.23% -3.71% 2.78%

Total + / (-) YTD % in NA 1.40% 1.10% 1.94% 3.32% 3.70% 11.20% 7.07% 8.01% 9.39% 10.12% 6.21% 11.20% 1.10% 3.76%

FOR FY 2011-12

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ISLAMIC MONEY MARKET FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min SD

FOR FY 2011-12




Active Return / Alpha 0.25% 0.23% 0.18% 0.18% 0.20% 0.19% 0.25% 0.22% 0.17% 0.17% 0.17% 0.17% -2.81% -0.15% 0.25% -2.81% 1.00%

Corelation 0.78 0.78 0.78 0.85 1.00 0.03 0.07 0.41 0.42 0.39 0.67 0.49 0.44 1.00 0.03 0.31

Beta 1.42 1.50 1.60 1.35 13.35 0.19 0.30 1.20 1.25 0.96 1.43 1.26 2.49 13.35 0.19 4.41

R-Squared 0.65 0.65 0.64 0.76 1.00 0.03 0.04 0.40 0.44 0.39 0.50 0.41 0.40 1.00 0.03 0.30










Sharpe (2.85) (2.78) (2.59) (2.44) (6.62) (8.91) (9.38) (5.38) (4.93) (4.62) (3.76) (3.84) (5.93) (3.76) (9.38) 2.18

Sortino (0.38) (0.36) (0.51) (0.39) (0.25) (0.24) (0.23) (0.21) (0.20) (0.20) (0.20) (0.20) (0.20) (0.21) (0.20) (0.25) 0.02

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) 0.03 0.02 0.02 0.02 0.01 (0.00) (0.65) (0.07) 0.03 (0.65) 0.24

Jensen's Alpha 0.00 0.00 0.00 0.00 0.05 (0.00) (0.00) 0.00 0.00 0.00 0.00 0.00 0.01 0.05 (0.00) 0.02

Tracking Error 0.06% 0.06% 0.06% 0.06% 0.03% 0.05% 0.04% 0.04% 0.04% 0.04% 0.04% 1.01% 0.16% 1.01% 0.03% 0.34%


VAMI 1.07 1.08 1.06 1.07 1.01 1.02 1.03 1.04 1.04 1.05 1.06 1.07 1.08 1.04 1.08 1.01 0.02


Misc. Info

Last NAVs 30.03 30.31 53.64 54.03 75.6855 75.9109 76.3562 75.6899 76.0695 76.4962 75.7795 76.1416 76.5786 76.08 76.58 75.69 0.34

Payouts 0.80 0.8500 0.7649 0.8500 0.4500 1.3450 0.4900 0.4000 1.3400 0.4400 0.4000 0.71 1.35 0.40 0.41

Net Assets 3,407.81 3,359.10 2,173.45 2,389.96 3,105.31 3,460.06 3,108.96 3,387.54 3,487.18 3,513.30 3,524.91 3,654.17 4,089.83 3,481.25 4,089.83 3,105.31 294.20

MoM + / (-) % in NA 1.37% 0.57% -1.82% 25.61% -0.68% 6.49% -4.76% 4.97% 4.95% -1.33% 0.59% 2.55% 6.65% 2.09% 6.65% -4.76% 3.96%

Total + / (-) YTD % in NA 15.98% 16.50% 14.10% 39.85% -0.68% 5.67% 0.41% 5.27% 10.44% 8.95% 9.59% 12.40% 20.06% 8.01% 20.06% -0.68% 6.32%

Category NA 6,815.62 6,718.19 6,520.34 7,169.87 6,210.62 6,920.13 6,217.91 6,775.07 6,974.35 7,026.60 7,049.83 7,308.34 8,179.67 6,962.50 8,179.67 6,210.62 588.39


IND

UST

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ISLAMIC INCOME FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min Std. Dev.




Active Return / Alpha 1.31% 0.76% 0.69% 0.64% 0.69% 0.57% -1.22% 0.44% -3.56% 1.57% 3.10% 4.49% 1.33% 0.80% 4.49% -3.56% 2.32%

Corelation (0.22) (0.21) (0.17) (0.15) (1.00) (0.54) (0.42) (0.40) (0.25) (0.09) 0.01 0.02 (0.33) 0.02 (1.00) 0.34

Beta (29.47) (29.39) (23.89) (20.29) (6.75) (80.55) (67.44) (155.69) (111.89) (54.42) 9.57 17.22 (56.24) 17.22 (155.69) 60.81

R-Squared 0.05 0.04 0.03 0.02 1.00 0.30 0.17 0.16 0.06 0.01 0.00 0.00 0.21 1.00 0.00 0.34


Annualized Return (YTD) 10.37% 10.81% 11.07% 11.24% 13.91% 13.33% 6.04% 7.37% -1.58% 2.78% 8.59% 15.24% 16.05% 9.08% 16.05% -1.58% 6.06%

Annualized Return (MoM) 23.38% 16.36% 14.80% 14.64% 13.91% 12.59% -8.82% 11.15% -37.34% 24.45% 42.48% 62.99% 21.63% 12.40% 62.99% -37.34% 28.53%

Absolute Return (YTD) 1.18% 2.26% 1.52% 2.48% -0.66% 1.40% 5.05% 10.16% 12.06% 3.94% 12.06% -0.66% 4.36%

Absolute Return (MoM) 1.80% 1.25% 1.18% 1.13% 1.18% 1.07% -0.72% 0.94% -3.06% 2.07% 3.60% 4.99% 1.83% 1.30% 4.99% -3.06% 2.32%

Sum Abs. Return (MoM) 7.63% 8.88% 10.06% 11.19% 1.18% 2.24% 1.52% 2.47% -0.59% 1.48% 5.08% 10.07% 11.90% 3.93% 11.90% -0.59% 4.29%


Risk Adjusted Return 0.70% 0.15% 0.08% 0.01% 0.05% -0.02% -1.81% -0.08% -4.04% 1.09% 2.63% 4.01% 0.85% 0.27% 4.01% -4.04% 2.34%

Coefficient of Variation 0.74 0.68 0.63 0.59 0.07 2.10 1.46 (15.31) 7.54 2.92 1.96 1.76 0.31 7.54 (15.31) 6.68

Sharpe (0.37) (0.32) (0.29) (0.27) 0.21 (0.55) (0.52) (0.65) (0.43) (0.15) 0.09 0.13 (0.23) 0.21 (0.65) 0.35

Sortino (0.43) (0.38) (0.35) (0.33) 0.02 (0.80) (0.58) (0.76) (0.57) (0.24) 0.19 0.26 (0.31) 0.26 (0.80) 0.43

Treynor 0.00 0.00 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00

Jensen's Alpha (0.18) (0.18) (0.14) (0.12) (0.04) (0.49) (0.40) (0.89) (0.62) (0.30) 0.05 0.09 (0.32) 0.09 (0.89) 0.35

Tracking Error 0.63% 0.60% 0.58% 0.56% 0.09% 1.07% 0.90% 1.82% 1.86% 2.12% 2.47% 2.32% 1.58% 2.47% 0.09% 0.82%

Information Ratio 0.57 0.66 0.73 0.80 7.34 0.01 0.13 (0.34) (0.14) 0.11 0.31 0.35 0.97 7.34 (0.34) 2.58

VAMI 1.08 1.09 1.11 1.12 1.01 1.02 1.02 1.02 0.99 1.01 1.05 1.10 1.12 1.04 1.12 0.99 0.04

Excess Return on RFR -0.23% -0.19% -0.17% -0.15% 0.05% 0.02% -0.59% -0.46% -1.18% -0.80% -0.31% 0.23% 0.30% -0.31% 0.30% -1.18% 0.50%

Misc. Info

Last NAVs 50.26 50.89 50.49 51.06 50.65 51.19 50.82 51.30 49.73 50.76 51.29 51.85 50.80 50.93 51.85 49.73 0.59

Payouts 1.75 1.00 1.00 1.2965 2.0000 2.0000 1.77 2.00 1.30 0.41

Net Assets 2,743 2,768 2,502 2,541.94 2,561.48 2,597.45 2,506.35 2,489.61 2,342.61 1,718.22 1,527.28 1,501.69 1,226.79 2,052.39 2,597.45 1,226.79 548.87

MoM + / (-) % in NA 0.11% 0.91% -9.61% 1.60% 0.77% 1.40% -3.51% -0.67% -5.90% -26.65% -11.11% -1.68% -18.31% -7.78% 1.40% -26.65% 9.64%

Total + / (-) YTD % in NA -19.18% -18.44% -26.28% -25.11% 0.77% 2.18% -1.40% -2.06% -7.84% -32.41% -39.92% -40.92% -51.74% -19.26% 2.18% -51.74% 21.59%





Corelation 0.36 0.38 0.38 0.38 1.00 0.69 0.74 0.93 0.44 0.63 (0.46) (0.35) 0.45 1.00 (0.46) 0.56

Beta 1.18 1.35 1.70 1.71 30.41 3.28 3.88 3.62 1.55 2.09 (26.58) (19.28) (0.13) 30.41 (26.58) 17.11

R-Squared 0.13 0.14 0.14 0.14 1.00 0.48 0.54 0.86 0.19 0.40 0.21 0.12 0.48 1.00 0.12 0.32








Risk Adjusted Return -0.16% -0.15% -0.05% -0.20% -0.19% -0.10% -0.09% -0.07% -0.09% 0.01% -0.08% 2.41% -0.13% 0.19% 2.41% -0.19% 0.83%


Sharpe (3.07) (2.95) (2.28) (2.43) (3.92) (3.76) (3.81) (2.33) (1.95) (1.77) 0.26 0.23 (2.13) 0.26 (3.92) 1.70

Sortino (0.22) (0.21) (0.19) (0.19) (0.20) (0.15) (0.13) (0.11) (0.11) (0.10) (0.10) 0.28 0.23 (0.04) 0.28 (0.20) 0.17

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Jensen's Alpha 0.00 0.00 0.00 0.01 0.12 0.01 0.01 0.01 0.00 0.01 (0.09) (0.06) 0.00 0.12 (0.09) 0.06

Tracking Error 0.06% 0.06% 0.07% 0.07% 0.04% 0.03% 0.03% 0.04% 0.04% 0.04% 0.87% 0.82% 0.24% 0.87% 0.03% 0.38%


VAMI 1.08 1.09 1.10 1.11 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.10 1.11 1.05 1.11 1.01 0.04

Excess Return on RFR -0.19% -0.19% -0.17% -0.18% -0.19% -0.14% -0.12% -0.11% -0.10% -0.09% -0.08% 0.23% 0.19% -0.05% 0.23% -0.19% 0.15%

Misc. Info

Last NAVs 50.06 50.54 50.19 50.65 50.48 50.98 50.19 50.67 51.12 50.33 50.78 51.20 50.34 50.68 51.20 50.19 0.37

Payouts 2.10 0.88 0.64 1.30 1.30 1.30 1.30 1.30 1.30 1.30 0.00

Net Assets 9,491 10,258 10,819 12,545.66 13,543.92 14,050.93 13,719.41 15,214.20 16,659.08 18,798.10 19,264.91 19,657.64 18,872.54 16,642.30 19,657.64 13,543.92 2,561.49

MoM + / (-) % in NA -9.43% 8.08% 5.47% 15.96% 7.96% 3.74% -2.36% 10.90% 9.50% 12.84% 2.48% 2.04% -3.99% 4.64% 12.84% -3.99% 5.88%

Total + / (-) YTD % in NA 877.45% 956.44% 1014.21% 1192.04% 7.96% 12.00% 9.36% 21.27% 32.79% 49.84% 53.56% 56.69% 50.43% 32.65% 56.69% 7.96% 20.42%

FOR FY 2011-12

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FOR FY 2011-12




Active Return / Alpha 0.16% 0.17% 0.22% 0.28% 0.45% 0.24% 0.39% 0.57% -0.37% 0.10% 0.13% 0.05% 0.10% 0.18% 0.57% -0.37% 0.28%

Corelation 0.62 0.65 0.62 0.59 (1.00) 0.16 0.53 0.94 0.41 0.36 0.41 0.41 0.28 0.94 (1.00) 0.56

Beta 0.46 0.56 0.72 0.91 (1,281.76) 25.95 119.91 273.28 29.71 17.88 17.71 15.29 (97.75) 273.28 (1,281.76) 486.67

R-Squared 0.38 0.42 0.39 0.34 1.00 0.03 0.28 0.88 0.16 0.13 0.17 0.17 0.35 1.00 0.03 0.37










Sharpe (8.96) (7.71) (5.85) (4.35) (0.72) (0.79) (0.10) (0.41) (0.49) (0.55) (0.63) (0.69) (0.55) (0.10) (0.79) 0.22

Sortino (0.43) (0.42) (0.40) (0.38) (0.02) (0.11) (0.09) (0.02) (0.19) (0.21) (0.22) (0.24) (0.25) (0.15) (0.02) (0.25) 0.09

Treynor (0.01) (0.01) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.00) (0.00) 0.00 0.00 (5.80) 0.11 0.51 1.11 0.12 0.07 0.07 0.06 (0.47) 1.11 (5.80) 2.18

Tracking Error 0.04% 0.04% 0.04% 0.06% 0.15% 0.11% 0.14% 0.37% 0.34% 0.31% 0.29% 0.28% 0.25% 0.37% 0.11% 0.10%


VAMI 1.07 1.08 1.09 1.10 1.01 1.02 1.03 1.04 1.05 1.05 1.06 1.07 1.08 1.05 1.08 1.01 0.02


Misc. Info

Last NAVs 512.50 504.75 509.19 513.95 505.97 510.47 515.80 509.62 511.04 514.86 507.32 510.81 514.59 511.16 515.80 505.97 3.38

Payouts 12.00 13.50 12.50 11.50 12.00 12.50 11.50 0.71

Net Assets 283.00 288.00 388.00 379.81 391.27 414.25 430.92 428.41 432.66 445.14 421.32 426.18 447.31 426.38 447.31 391.27 16.81

MoM + / (-) % in NA 2.17% 1.77% 34.72% -2.11% 3.02% 5.87% 4.02% -0.58% 0.99% 2.88% -5.35% 1.15% 4.96% 1.83% 5.87% -5.35% 3.39%

Total + / (-) YTD % in NA -18.44% -17.00% 11.82% 9.45% 3.02% 9.07% 13.46% 12.80% 13.92% 17.20% 10.93% 12.21% 17.77% 12.26% 17.77% 3.02% 4.43%




Active Return / Alpha 0.22% 0.13% 0.49% -0.08% 0.47% 0.60% 0.07% 1.07% 0.29% 0.17% 0.17% 0.11% 0.09% 0.23% 1.07% 0.07% 0.33%

Corelation 0.85 0.86 0.72 0.61 1.00 0.86 0.00 0.31 0.50 0.57 0.63 0.67 0.57 1.00 0.00 0.31

Beta 1.26 1.26 1.74 1.57 7.59 24.87 0.12 7.34 8.21 8.19 8.63 9.04 9.25 24.87 0.12 6.93

R-Squared 0.72 0.74 0.52 0.37 1.00 0.74 0.00 0.10 0.25 0.33 0.40 0.45 0.41 1.00 0.00 0.33








Risk Adjusted Return -0.23% -0.32% 0.05% -0.57% -0.02% 0.15% -0.39% 0.67% -0.08% -0.23% -0.22% -0.28% -0.31% -0.08% 0.67% -0.39% 0.33%


Sharpe (3.72) (3.74) (2.06) (2.15) 0.66 (0.30) 0.25 0.17 0.04 (0.05) (0.14) (0.23) 0.05 0.66 (0.30) 0.31

Sortino (0.53) (0.52) (0.49) (0.52) (0.02) 0.08 (0.11) 0.16 0.09 0.02 (0.02) (0.07) (0.11) 0.00 0.16 (0.11) 0.09

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.01 0.00 0.00 (0.00) (0.00) (0.00) 0.00 0.01 (0.00) 0.00

Jensen's Alpha 0.00 0.00 0.01 0.00 0.04 0.12 0.00 0.03 0.04 0.03 0.04 0.04 0.04 0.12 0.00 0.03

Tracking Error 0.06% 0.06% 0.12% 0.14% 0.09% 0.28% 0.41% 0.37% 0.36% 0.35% 0.34% 0.33% 0.31% 0.41% 0.09% 0.10%


VAMI 1.06 1.07 1.09 1.09 1.01 1.02 1.03 1.05 1.06 1.07 1.07 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR -0.38% -0.37% -0.33% -0.35% -0.02% 0.07% -0.09% 0.10% 0.07% 0.02% -0.02% -0.05% -0.08% 0.00% 0.10% -0.09% 0.07%

Misc. Info

Last NAVs 52.7653 51.4000 51.9877 52.2736 50.8498 51.4806 51.8407 51.6903 52.1526 52.5467 52.9438 52.0170 52.3699 51.99 52.94 50.85 0.62

Payouts 1.7813 1.9777 1.0275 1.2965 1.16 1.30 1.03 0.19

Net Assets 319.08 332.04 376.80 431.56 309.36 306.99 307.95 311.71 325.81 313.16 305.55 306.64 320.43 311.95 325.81 305.55 6.91

MoM + / (-) % in NA -8.85% 4.06% 13.48% 14.53% -28.32% -0.76% 0.31% 1.22% 4.52% -3.88% -2.43% 0.36% 4.50% -3.25% 4.52% -28.32% 9.99%

Total + / (-) YTD % in NA 30.50% 35.80% 54.10% 76.50% -28.32% -28.86% -28.64% -27.77% -24.50% -27.44% -29.20% -28.95% -25.75% -27.71% -24.50% -29.20% 1.60%

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FOR FY 2011-12




Active Return / Alpha 0.14% 0.13% 0.47% -0.02% 0.43% 0.47% 0.21% -1.86% 0.34% 0.24% 0.57% 0.05% 0.17% 0.06% 0.57% -1.86% 0.74%

Corelation 0.21 0.21 0.20 0.20 1.00 (0.39) 0.36 (0.10) (0.16) (0.26) (0.23) (0.23) (0.00) 1.00 (0.39) 0.46

Beta 4.63 4.76 4.78 4.81 1.94 (4.68) 45.70 (4.30) (5.72) (8.60) (7.24) (7.01) 1.26 45.70 (8.60) 18.24

R-Squared 0.04 0.04 0.04 0.04 1.00 0.15 0.13 0.01 0.03 0.07 0.05 0.05 0.19 1.00 0.01 0.33



Annualized Return (MoM) 10.16% 10.33% 14.46% 8.36% 12.83% 13.40% 10.74% -14.21% 11.80% 10.23% 14.02% 8.45% 9.33% 8.16% 14.02% -14.21% 8.72%


Absolute Return (MoM) 0.83% 0.81% 1.15% 0.66% 1.09% 1.14% 0.88% -1.20% 0.97% 0.87% 1.19% 0.67% 0.79% 0.71% 1.19% -1.20% 0.74%



Risk Adjusted Return -0.28% -0.29% 0.06% -0.46% -0.04% 0.05% -0.21% -2.23% -0.01% -0.12% 0.22% -0.31% -0.20% -0.32% 0.22% -2.23% 0.73%


Sharpe (0.15) (0.20) (0.18) (0.25) 0.15 (0.48) (0.54) (0.49) (0.47) (0.39) (0.42) (0.43) (0.38) 0.15 (0.54) 0.22

Sortino (0.14) (0.17) (0.15) (0.20) (0.04) 0.01 (0.08) (0.66) (0.52) (0.46) (0.39) (0.40) (0.38) (0.32) 0.01 (0.66) 0.23

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.00

Jensen's Alpha 0.02 0.02 0.02 0.02 0.01 (0.02) 0.18 (0.02) (0.03) (0.04) (0.03) (0.03) 0.00 0.18 (0.04) 0.07

Tracking Error 0.53% 0.50% 0.48% 0.47% 0.03% 0.14% 1.12% 1.00% 0.90% 0.86% 0.79% 0.74% 0.70% 1.12% 0.03% 0.40%

Information Ratio 0.59 0.59 0.65 0.61 17.62 2.67 (0.17) (0.08) (0.03) 0.07 0.07 0.09 2.53 17.62 (0.17) 6.17

VAMI 1.09 1.10 1.11 1.12 1.01 1.02 1.03 1.02 1.03 1.04 1.05 1.06 1.07 1.04 1.07 1.01 0.02

Excess Return on RFR -0.08% -0.10% -0.09% -0.12% -0.04% 0.01% -0.07% -0.61% -0.49% -0.43% -0.33% -0.33% -0.32% -0.29% 0.01% -0.61% 0.21%

Misc. Info

Last NAVs 103.9824 100.7761 101.9386 102.6136 101.2917 102.4414 103.3436 102.1002 103.0880 100.8716 100.8720 100.3509 100.3068 101.63 103.34 100.31 1.15

Payouts 4.0500 2.4107 3.1092 1.1978 1.1967 0.8367 1.59 3.11 0.84 1.03

Net Assets 256 210 262 452.75 422.22 493.54 495.26 481.38 557.21 604.86 656.18 737.17 746.62 577.16 746.62 422.22 116.52

MoM + / (-) % in NA 9.40% -17.97% 24.76% 72.81% -6.74% 16.89% 0.35% -2.80% 15.75% 8.55% 8.48% 12.34% 1.28% 5.72% 16.89% -6.74% 8.37%

Total + / (-) YTD % in NA 6.22% -12.86% 8.71% 87.86% -6.74% 9.01% 9.39% 6.32% 23.07% 33.60% 44.93% 62.82% 64.91% 27.48% 64.91% -6.74% 25.74%




Active Return / Alpha 0.11% 0.11% 0.20% 0.16% 0.15% 0.17% 0.16% 0.15% 0.82% -0.01% -0.18% -0.09% -0.22% 0.11% 0.82% -0.22% 0.31%

Corelation 0.29 0.33 0.45 0.51 1.00 1.00 0.24 (0.97) (0.32) 0.04 0.17 0.30 0.18 1.00 (0.97) 0.65

Beta 1.69 1.91 3.14 3.65 3.77 4.96 0.50 (16.54) (4.85) 0.55 2.59 4.73 (0.54) 4.96 (16.54) 7.20

R-Squared 0.09 0.11 0.20 0.26 1.00 1.00 0.06 0.93 0.11 0.00 0.03 0.09 0.40 1.00 0.00 0.48








Risk Adjusted Return -0.28% -0.28% -0.17% -0.24% -0.26% -0.19% -0.20% -0.14% 0.54% -0.30% -0.46% -0.37% -0.51% -0.21% 0.54% -0.51% 0.31%


Sharpe (5.20) (5.36) (4.33) (4.19) (12.77) (16.90) (18.79) (0.18) (0.33) (0.47) (0.57) (0.68) (6.34) (0.18) (18.79) 8.30

Sortino (0.36) (0.36) (0.34) (0.33) (0.30) (0.26) (0.25) (0.23) (0.07) (0.12) (0.20) (0.24) (0.30) (0.22) (0.07) (0.30) 0.08

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.00 0.00 0.01 0.01 0.01 0.02 (0.00) (0.06) (0.02) 0.00 0.01 0.01 (0.00) 0.02 (0.06) 0.02

Tracking Error 0.05% 0.05% 0.06% 0.06% 0.02% 0.01% 0.01% 0.30% 0.29% 0.31% 0.30% 0.31% 0.19% 0.31% 0.01% 0.15%


VAMI 1.07 1.08 1.09 1.10 1.01 1.02 1.03 1.04 1.05 1.06 1.06 1.07 1.08 1.05 1.08 1.01 0.02


Misc. Info

Last NAVs 100.8058 101.6400 102.5773 103.4862 101.0994 102.0007 100.3418 101.2228 102.7575 101.3298 101.8505 102.4673 100.7293 101.53 102.76 100.34 0.80

Payouts 2.1926 3.2552 2.5609 2.1287 2.2220 2.30 2.56 2.13 0.23

Net Assets 455.00 484.00 502.00 680.47 487.24 398.40 404.22 409.85 450.33 400.32 405.25 398.91 325.00 408.84 487.24 325.00 43.61

MoM + / (-) % in NA 0.44% 6.37% 3.72% 35.55% -28.40% -18.23% 1.46% 1.39% 9.88% -11.11% 1.23% -1.57% -18.53% -7.88% 9.88% -28.40% 12.54%

Total + / (-) YTD % in NA 14.90% 22.22% 26.77% 71.84% -28.40% -41.45% -40.60% -39.77% -33.82% -41.17% -40.45% -41.38% -52.24% -39.92% -28.40% -52.24% 6.41%

ASK

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FOR FY 2011-12




Active Return / Alpha 0.22% 0.07% 0.22% -0.06% 0.37% 0.52% 0.04% 0.90% 0.12% -0.18% 0.10% -0.15% 0.06% 0.20% 0.90% -0.18% 0.34%

Corelation 0.08 0.10 0.10 0.07 1.00 0.01 0.35 0.55 0.72 0.71 0.76 0.76 0.61 1.00 0.01 0.31

Beta 2.35 2.47 2.58 2.01 6.61 0.24 15.99 10.54 14.26 12.40 13.34 12.75 10.77 15.99 0.24 5.08

R-Squared 0.01 0.01 0.01 0.01 1.00 0.00 0.12 0.30 0.52 0.51 0.58 0.58 0.45 1.00 0.00 0.31










Sharpe (1.79) (1.93) (1.84) (1.95) 0.71 (0.18) 0.34 0.20 (0.04) (0.10) (0.22) (0.28) 0.05 0.71 (0.28) 0.34

Sortino (0.34) (0.34) (0.32) (0.34) (0.02) 0.11 (0.06) 0.18 0.10 (0.02) (0.05) (0.12) (0.14) (0.00) 0.18 (0.14) 0.11

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.01 0.01 0.01 0.00 0.02 0.00 0.05 0.03 0.04 0.04 0.04 0.04 0.03 0.05 0.00 0.02

Tracking Error 0.14% 0.13% 0.13% 0.14% 0.11% 0.25% 0.36% 0.34% 0.39% 0.36% 0.36% 0.34% 0.31% 0.39% 0.11% 0.09%


VAMI 1.08 1.09 1.10 1.10 1.01 1.02 1.03 1.05 1.06 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR -0.25% -0.26% -0.25% -0.26% -0.02% 0.08% -0.04% 0.12% 0.07% -0.02% -0.04% -0.08% -0.10% 0.00% 0.12% -0.10% 0.08%

Misc. Info

Last NAVs 103.6500 101.8300 102.8100 103.5100 101.52 102.81 103.62 102.58 103.44 103.99 104.83 101.42 102.20 102.93 104.83 101.42 1.14

Payouts 2.6500 3.1000 2.75 4.00 3.38 4.00 2.75 0.88

Net Assets 169.72 251.28 263.24 295.40 297.40 309.46 380.11 394.80 580.86 872.93 547.35 568.15 578.56 503.29 872.93 297.40 180.75

MoM + / (-) % in NA -9.24% 48.06% 4.76% 12.22% 0.68% 4.05% 22.83% 3.87% 47.13% 50.28% -37.30% 3.80% 1.83% 7.75% 50.28% -37.30% 26.60%

Total + / (-) YTD % in NA -49.12% -24.67% -21.09% -11.44% 0.68% 4.76% 28.68% 33.65% 96.63% 195.50% 85.29% 92.33% 95.86% 70.37% 195.50% 0.68% 61.19%





Corelation 0.97 0.97 0.97 0.97 (1.00) (0.19) 0.57 0.58 (0.42) (0.05) 0.22 0.33 0.01 0.58 (1.00) 0.54

Beta 1.17 1.19 1.21 1.19 (0.30) (0.23) 0.42 0.39 (0.55) (0.07) 0.30 0.36 0.04 0.42 (0.55) 0.37

R-Squared 0.94 0.94 0.94 0.93 1.00 0.03 0.32 0.33 0.18 0.00 0.05 0.11 0.25 1.00 0.00 0.33








Risk Adjusted Return -0.23% -0.24% -0.21% -0.28% -0.20% -0.18% -0.22% -0.08% -0.08% 0.06% -0.13% -0.16% -0.14% -0.13% 0.06% -0.22% 0.08%


Sharpe (1.53) (1.53) (1.51) (1.54) (15.02) (7.15) (5.50) (5.58) (1.96) (1.87) (1.82) (1.89) (5.10) (1.82) (15.02) 4.54

Sortino (0.50) (0.48) (0.45) (0.42) (0.22) (0.21) (0.23) (0.19) (0.17) (0.15) (0.15) (0.15) (0.16) (0.18) (0.15) (0.23) 0.03

Treynor (0.00) (0.00) (0.00) (0.00) 0.01 0.01 (0.00) (0.00) 0.00 0.02 (0.00) (0.00) 0.00 0.02 (0.00) 0.01

Jensen's Alpha 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00 (0.00) 0.00

Tracking Error 0.08% 0.08% 0.08% 0.07% 0.03% 0.03% 0.03% 0.03% 0.09% 0.08% 0.07% 0.07% 0.05% 0.09% 0.03% 0.02%


VAMI 1.07 1.07 1.08 1.09 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.07 1.08 1.05 1.08 1.01 0.03


Misc. Info

Last NAVs 10.0086 10.0949 10.1848 10.0163 10.1085 10.1997 10.0146 10.1086 10.1990 10.0387 10.1228 10.2052 10.0276 10.11 10.21 10.01 0.08

Payouts 0.2567 0.2546 0.2733 0.2665 0.2642 0.27 0.27 0.26 0.00

Net Assets 439.62 452.19 480.37 816.61 793.86 725.12 674.56 671.69 585.20 701.12 793.73 821.32 797.24 729.31 821.32 585.20 78.50

MoM + / (-) % in NA 2.18% 2.86% 6.23% 70.00% -2.79% -8.66% -6.97% -0.43% -12.88% 19.81% 13.21% 3.47% -2.93% -0.27% 19.81% -12.88% 10.52%

Total + / (-) YTD % in NA 9.91% 13.05% 20.09% 104.15% -2.79% -11.20% -17.39% -17.75% -28.34% -14.14% -2.80% 0.58% -2.37% -10.69% 0.58% -28.34% 9.61%

FAY

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FOR FY 2011-12




Active Return / Alpha 0.24% 0.21% 0.53% -0.04% 0.36% 0.22% 0.24% 0.16% 0.19% 0.29% -0.64% 0.07% 0.19% 0.12% 0.36% -0.64% 0.30%

Corelation 0.88 0.89 0.80 0.72 1.00 0.66 0.29 0.24 0.23 0.05 0.06 0.02 0.32 1.00 0.02 0.34

Beta 1.79 1.87 2.23 2.00 21.59 1.52 0.82 0.74 0.79 0.87 1.03 0.22 3.45 21.59 0.22 7.34

R-Squared 0.78 0.79 0.64 0.52 1.00 0.43 0.08 0.06 0.05 0.00 0.00 0.00 0.20 1.00 0.00 0.35








Risk Adjusted Return -0.17% -0.20% 0.13% -0.46% -0.05% -0.16% -0.18% -0.15% -0.08% 0.00% -0.91% -0.22% -0.15% -0.21% 0.00% -0.91% 0.27%

Coefficient of Variation 25.06% 24.20% 28.85% 28.24% 0.10 0.09 0.09 0.09 0.08 0.42 0.39 0.36 0.20 0.42 0.08 0.16

Sharpe (2.00) (1.91) (1.30) (1.41) (1.02) (1.43) (1.52) (1.55) (1.38) (0.64) (0.69) (0.71) (1.12) (0.64) (1.55) 0.40

Sortino (0.49) (0.45) (0.41) (0.43) (0.05) (0.10) (0.13) (0.14) (0.13) (0.12) (0.28) (0.28) (0.27) (0.17) (0.05) (0.28) 0.08

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.01) (0.00) (0.00) (0.01) 0.00

Jensen's Alpha 0.00 0.00 0.01 0.01 0.08 0.00 0.00 0.00 0.00 0.00 0.00 (0.00) 0.01 0.08 (0.00) 0.03

Tracking Error 0.12% 0.12% 0.17% 0.18% 0.10% 0.08% 0.08% 0.08% 0.07% 0.34% 0.32% 0.30% 0.17% 0.34% 0.07% 0.12%


VAMI 1.06 1.07 1.08 1.09 1.01 1.02 1.03 1.04 1.05 1.06 1.06 1.07 1.08 1.05 1.08 1.01 0.02


Misc. Info

Last NAVs 10.3412 10.1847 10.3097 10.3779 10.1861 10.1931 10.1948 10.2042 10.2030 10.2232 10.1488 10.1433 10.1454 10.18 10.22 10.14 0.03

Payouts 0.2500 0.3000 0.0877 0.0907 0.0796 0.0927 0.0806 0.0806 0.0826 0.0826 0.08 0.09 0.08 0.01

Net Assets 269 329 361 376.78 396.63 425.17 494.67 521.42 560.73 635.56 753.58 786.69 802.19 597.40 802.19 396.63 154.62

MoM + / (-) % in NA 3.46% 22.30% 9.73% 4.37% 5.27% 7.20% 16.35% 5.41% 7.54% 13.34% 18.57% 4.39% 1.97% 8.76% 18.57% 1.97% 5.78%

Total + / (-) YTD % in NA 151.40% 207.48% 237.38% 252.13% 5.27% 12.84% 31.29% 38.39% 48.82% 68.68% 100.01% 108.79% 112.91% 58.56% 112.91% 5.27% 41.04%





Corelation 0.88 0.86 0.87 0.86 (1.00) 0.15 (0.11) (0.45) (0.33) (0.35) 0.19 0.35 (0.19) 0.35 (1.00) 0.44

Beta 1.93 1.87 1.98 1.94 (11.16) 0.21 (0.39) (2.63) (2.15) (2.55) 1.40 2.24 (1.88) 2.24 (11.16) 4.17

R-Squared 0.77 0.74 0.76 0.74 1.00 0.02 0.01 0.21 0.11 0.12 0.03 0.12 0.20 1.00 0.01 0.33








Risk Adjusted Return -0.14% -0.18% -0.10% -0.19% -0.13% -0.13% -0.10% -0.11% -0.12% 0.01% -0.08% -0.15% -0.12% -0.10% 0.01% -0.15% 0.05%


Sharpe (1.69) (1.84) (1.78) (1.93) (4.90) (6.26) (3.32) (2.13) (1.79) (1.72) (1.56) (1.60) (2.91) (1.56) (6.26) 1.78

Sortino (0.22) (0.22) (0.20) (0.20) (0.13) (0.13) (0.12) (0.12) (0.12) (0.11) (0.11) (0.12) (0.12) (0.12) (0.11) (0.13) 0.01

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 (0.01) 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) 0.00 (0.01) 0.00

Jensen's Alpha 0.01 0.01 0.01 0.01 (0.05) (0.00) (0.00) (0.01) (0.01) (0.01) 0.00 0.01 (0.01) 0.01 (0.05) 0.02

Tracking Error 0.08% 0.07% 0.07% 0.07% 0.03% 0.02% 0.04% 0.06% 0.06% 0.06% 0.06% 0.06% 0.05% 0.06% 0.02% 0.02%


VAMI 1.05 1.06 1.07 1.08 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 104.5975 105.5693 106.6178 100.1635 101.1604 102.1296 103.1352 104.0805 104.9780 106.0232 100.5642 101.3974 100.4709 102.66 106.02 100.47 2.01

Payouts 7.4500 6.4000 1.8000 4.10 6.40 1.80 3.25

Net Assets 1,579 1,779 2,083 2,185.31 2,216.40 2,308.56 2,489.18 2,516.92 2,633.21 3,718.43 3,650.45 3,711.58 3,865.42 3,012.24 3,865.42 2,216.40 699.48

MoM + / (-) % in NA 5.97% 12.67% 17.09% 4.91% 1.42% 4.16% 7.82% 1.11% 4.62% 41.21% -1.83% 1.67% 4.14% 6.54% 41.21% -1.83% 13.06%

Total + / (-) YTD % in NA 105.87% 131.94% 171.58% 184.92% 1.42% 5.64% 13.90% 15.17% 20.50% 70.16% 67.04% 69.84% 76.88% 37.84% 76.88% 1.42% 32.01%

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FOR FY 2011-12



Downside Deviation 0.25% 0.87% 0.90% 0.88% 0.76% 0.77% 0.77% 0.78% 0.73% 0.73% 0.80% 0.90% 0.73% 0.07%

Active Return / Alpha -0.10% 0.52% 0.59% 0.58% 0.53% 0.34% 0.31% 0.24% 1.41% 0.16% 0.44% 1.41% 0.16% 0.37%

Corelation 1.00 0.80 0.97 0.63 0.41 0.20 0.48 0.35 0.60 1.00 0.20 0.29

Beta 87.79 0.53 0.65 0.51 0.35 0.15 1.41 1.00 11.55 87.79 0.15 30.81

R-Squared 1.00 0.63 0.93 0.40 0.17 0.04 0.23 0.12 0.44 1.00 0.04 0.37


Annualized Return (YTD) 6.35% 10.24% 10.71% 10.54% 11.19% 10.96% 10.77% 10.67% 12.39% 12.00% 11.05% 12.39% 10.24% 0.71%

Annualized Return (MoM) 6.35% 10.24% 11.09% 10.02% 12.77% 9.67% 9.36% 9.55% 25.22% 8.83% 11.21% 25.22% 8.83% 5.14%


Absolute Return (MoM) 0.25% 0.87% 0.94% 0.82% 1.08% 0.79% 0.79% 0.81% 2.00% 0.75% 0.94% 2.00% 0.75% 0.39%

Sum Abs. Return (MoM) 0.25% 0.87% 1.81% 2.63% 3.71% 4.50% 5.29% 6.10% 8.10% 8.85% 4.65% 8.85% 0.87% 2.73%

Benchmark Return 0.35% 0.35% 0.35% 0.25% 0.55% 0.45% 0.48% 0.57% 0.58% 0.58% 0.45% 0.58% 0.25% 0.12%

Risk Adjusted Return -0.87% -0.26% -0.15% -0.26% 0.06% -0.19% -0.19% -0.16% 1.02% -0.24% -0.04% 1.02% -0.26% 0.41%


Sharpe (3.98) (3.77) (1.34) (1.38) (1.47) (1.55) (0.04) (0.10) (1.70) (0.04) (3.98) 1.47

Sortino (3.43) (0.30) (0.22) (0.25) (0.20) (0.21) (0.21) (0.21) (0.02) (0.06) (0.19) (0.02) (0.30) 0.09

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.01) (0.00) (0.00) (0.00) (0.00) (0.01) 0.00

Jensen's Alpha 0.66 0.00 0.00 0.00 0.00 (0.00) 0.01 0.01 0.09 0.66 (0.00) 0.23

Tracking Error 0.05% 0.04% 0.03% 0.10% 0.12% 0.14% 0.37% 0.37% 0.15% 0.37% 0.03% 0.14%


VAMI 1.00 1.01 1.02 1.03 1.04 1.05 1.05 1.06 1.08 1.09 1.05 1.09 1.01 0.03

Excess Return on RFR -0.87% -0.26% -0.20% -0.22% -0.15% -0.16% -0.16% -0.16% -0.02% -0.04% -0.15% -0.02% -0.26% 0.08%

Misc. Info

Last NAVs 100.2532 101.1224 102.0719 102.9104 104.0239 104.8480 105.6795 100.1259 100.8265 100.2806 102.43 105.68 100.13 2.05

Payouts 6.4087 1.3000 1.3000 3.00 6.41 1.30 2.95

Net Assets 181.56 199.39 257.18 291.01 357.77 491.94 644.80 825.84 956.23 1,060.86 565.00 1,060.86 199.39 321.16

MoM + / (-) % in NA 9.82% 28.98% 13.15% 22.94% 37.50% 31.07% 28.08% 15.79% 10.94% 19.88% 37.50% 9.82% 9.98%

Total + / (-) YTD % in NA 9.82% 41.65% 60.28% 97.05% 170.96% 255.15% 354.87% 426.68% 484.31% 211.20% 484.31% 9.82% 176.89%




Active Return / Alpha 0.33% 0.24% 0.39% 0.13% 0.40% 0.40% 0.11% 0.25% -0.14% 0.32% 0.39% 0.89% 0.23% 0.32% 0.89% -0.14% 0.28%

Corelation 0.44 0.45 0.44 0.42 0.33 0.29 0.22 0.12 0.14 0.19 0.17 0.22 0.21 0.33 0.12 0.07

Beta (1.58) (1.48) (0.56) (0.19) (136.42) (2.69) 13.23 12.93 (7.79) (2.62) 2.27 3.91 (14.65) 13.23 (136.42) 49.76

R-Squared 0.33 0.34 0.30 0.27 1.00 0.35 0.16 0.39 0.16 0.17 0.16 0.18 0.32 1.00 0.16 0.29








Risk Adjusted Return -0.11% -0.20% -0.04% -0.36% -0.09% -0.06% -0.36% -0.12% -0.49% -0.04% 0.06% 0.54% -0.13% -0.08% 0.54% -0.49% 0.29%

Coefficient of Variation 0.24 0.23 0.24 0.23 0.07 0.33 0.53 (1.34) 1.18 0.68 0.63 0.60 0.33 1.18 (1.34) 0.75

Sharpe (2.99) (2.88) (2.21) (2.10) (2.40) (3.41) (3.11) (0.82) (0.76) (0.65) (0.43) (0.47) (1.51) (0.43) (3.41) 1.25

Sortino (0.35) (0.34) (0.32) (0.64) (0.12) (0.08) (0.20) (0.17) (0.19) (0.19) (0.18) (0.10) (0.11) (0.15) (0.08) (0.20) 0.05

Treynor (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.62) (0.03) 0.04 0.02 (0.05) (0.02) 0.01 0.02 (0.08) 0.04 (0.62) 0.22

Tracking Error 0.19% 0.18% 0.19% 0.19% 0.07% 0.22% 0.34% 0.49% 0.48% 0.53% 0.65% 0.61% 0.42% 0.65% 0.07% 0.20%


VAMI 1.07 1.08 1.09 1.09 1.01 1.02 1.03 1.04 1.04 1.05 1.06 1.08 1.09 1.05 1.09 1.01 0.03


Misc. Info

Last NAVs 121.00 119.73 120.68 118.8338 117.4330 118.5767 119.2197 118.7492 119.3357 119.6614 118.0725 118.2482 118.2233 118.61 119.66 117.43 0.71

Payouts 2.01 4.15 0.94 3.7371 0.0877 1.3172 4.0893 0.0927 1.6546 4.0950 1.6460 1.3736 1.79 4.09 0.09 1.55

Net Assets 1,729.42 1,855.48 1,950.78 2,007.12 2,082.53 2,156.19 2,151.91 2,312.61 2,503.44 2,815.15 2,835.77 2,905.09 2,824.57 2,509.70 2,905.09 2,082.53 340.85

MoM + / (-) % in NA -0.66% 9.58% 11.57% 17.76% -4.93% 2.70% 5.25% 2.21% 10.45% 9.72% -3.03% 2.50% -2.46% 2.36% 10.45% -4.93% 5.40%

Total + / (-) YTD % in NA 122.18% 142.32% 164.13% 204.24% -4.93% -1.65% 3.94% 6.45% 18.84% 37.11% 28.02% 32.38% 32.11% 16.92% 37.11% -4.93% 16.22%

Category NA 15,564.80 16,699.32 17,557.04 20,071.23 20,825.31 21,561.92 21,519.07 23,126.08 25,034.45 28,151.50 28,357.71 29,050.86 28,245.72 25,096.96 29,050.86 20,825.31 3,408.51


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Funds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Maximum Minimum Std. Dev.




Active Return / Alpha -0.67% -0.23% -2.34% -4.39% 0.35% 0.33% -4.89% -0.40% -0.47% -7.03% 1.19% 0.88% 1.56% -0.98% 1.56% -7.03% 2.97%

Corelation 0.30 0.17 (0.01) (0.22) (1.00) (0.74) (0.38) (0.28) (0.29) (0.24) (0.28) (0.40) (0.45) (0.24) (1.00) 0.27

Beta 40.78 8.99 (0.36) (10.32) (0.65) (218.69) (92.18) (65.18) (111.93) (101.63) (124.31) (155.15) (108.71) (0.65) (218.69) 63.70

R-Squared 0.09 0.03 0.00 0.05 1.00 0.55 0.14 0.08 0.08 0.06 0.08 0.16 0.27 1.00 0.06 0.34


Annualized Return (YTD) 1.04% 1.56% -0.37% -4.00% 12.92% 12.92% -8.10% -4.99% -3.32% -15.06% -9.81% -6.33% -2.68% -2.72% 12.92% -15.06% 9.61%

Annualized Return (MoM) -0.14% 6.37% -17.49% -36.54% 12.92% 12.78% -50.45% 4.31% 3.59% -73.99% 23.06% 20.64% 27.27% -11.44% 27.27% -73.99% 35.42%


Absolute Return (MoM) -0.01% 0.51% -1.62% -3.67% 1.09% 1.08% -4.13% 0.37% 0.29% -6.27% 1.95% 1.64% 2.31% -0.23% 2.31% -6.27% 2.97%

Sum Abs. Return (MoM) 0.98% 1.48% -0.13% -3.80% 1.09% 2.18% -1.96% -1.59% -1.30% -7.57% -5.61% -3.98% -1.67% -2.27% 2.18% -7.57% 3.06%


Risk Adjusted Return -1.12% -0.60% -2.71% -4.79% -0.03% 0.00% -5.22% -0.66% -0.68% -7.25% 0.98% 0.66% 1.32% -1.25% 1.32% -7.25% 2.97%

Coefficient of Variation 20.26 13.97 (166.30) (6.98) 0.01 (4.62) (6.32) (8.47) (2.49) (3.89) (6.06) (16.02) (5.98) 0.01 (16.02) 4.80

Sharpe (0.44) (0.45) (0.54) (0.63) (2.01) (0.58) (0.59) (0.60) (0.73) (0.59) (0.51) (0.41) (0.75) (0.41) (2.01) 0.52

Sortino (0.60) (0.60) (0.70) (0.77) (0.03) (0.02) (0.69) (0.67) (0.66) (0.74) (0.63) (0.56) (0.47) (0.50) (0.02) (0.74) 0.28

Treynor (0.00) (0.00) 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Jensen's Alpha 0.17 0.03 (0.01) (0.06) (0.00) (0.78) (0.31) (0.21) (0.35) (0.30) (0.35) (0.43) (0.34) (0.00) (0.78) 0.22

Tracking Error 2.19% 2.07% 2.04% 2.22% 0.01% 3.02% 2.52% 2.20% 3.15% 3.12% 3.01% 2.97% 2.50% 3.15% 0.01% 1.06%


VAMI 1.01 1.01 1.00 0.96 1.01 1.02 0.98 0.98 0.99 0.92 0.94 0.96 0.98 0.98 1.02 0.92 0.03


Misc. Info

Last NAVs 99.5630 100.0699 98.4497 94.8374 89.1729 90.1383 86.4112 86.7268 86.9817 81.5309 83.1234 84.4825 86.4338 86.11 90.14 81.53 2.73

Payouts 6.6300

Net Assets 371 366 358 341.46 328.15 325.49 309.32 313.30 312.10 286.60 292.70 297.13 304.32 307.68 328.15 286.60 14.06

MoM + / (-) % in NA -1.33% -1.35% -2.19% -4.62% -3.90% -0.81% -4.97% 1.28% -0.38% -8.17% 2.13% 1.51% 2.42% -1.27% 2.42% -8.17% 3.69%

Total + / (-) YTD % in NA -58.31% -58.88% -59.78% -61.63% -3.90% -4.68% -9.41% -8.25% -8.60% -16.07% -14.28% -12.98% -10.88% -9.89% -3.90% -16.07% 4.12%




Active Return / Alpha 1.05% -2.45% 3.48% -0.27% 0.12% 0.52% -1.65% -0.79% 0.42% 3.55% 1.51% 0.12% 5.54% 1.02% 5.54% -1.65% 2.23%

Corelation 0.17 0.06 0.26 0.22 (1.00) 0.98 0.83 0.86 (0.08) (0.01) (0.04) (0.61) 0.12 0.98 (1.00) 0.72

Beta 10.53 3.83 14.24 10.86 (119.42) 32.53 30.40 34.06 (5.86) (0.67) (2.73) (44.05) (9.47) 34.06 (119.42) 51.64

R-Squared 0.03 0.00 0.07 0.05 1.00 0.96 0.70 0.74 0.01 0.00 0.00 0.37 0.47 1.00 0.00 0.43



Annualized Return (MoM) 21.39% -20.25% 61.26% 4.80% 9.21% 13.91% -12.55% -1.56% 13.23% 49.36% 25.61% 9.93% 72.41% 17.63% 72.41% -12.55% 26.14%


Absolute Return (MoM) 1.66% -1.84% 4.14% 0.39% 0.78% 1.18% -1.03% -0.13% 1.08% 4.18% 2.17% 0.79% 6.13% 1.66% 6.13% -1.03% 2.21%



Risk Adjusted Return 0.56% -2.95% 3.05% -0.74% -0.35% 0.09% -2.11% -1.15% 0.11% 3.20% 1.20% -0.19% 5.15% 0.64% 5.15% -2.11% 2.24%


Sharpe (0.12) (0.21) (0.09) (0.11) (0.45) (0.67) (0.89) (0.73) (0.02) 0.08 0.06 0.30 (0.29) 0.30 (0.89) 0.45

Sortino (0.15) (0.27) (0.13) (0.15) (0.44) (0.23) (1.06) (1.36) (1.18) (0.07) 0.28 0.18 1.30 (0.28) 1.30 (1.36) 0.84

Treynor (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) 0.00 (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.05 0.01 0.07 0.05 (0.53) 0.14 0.12 0.13 (0.02) (0.00) (0.01) (0.16) (0.04) 0.14 (0.53) 0.22

Tracking Error 3.02% 2.97% 3.01% 2.88% 0.28% 1.15% 0.97% 0.92% 1.77% 1.67% 1.55% 2.23% 1.32% 2.23% 0.28% 0.61%

Information Ratio 0.05 (0.04) 0.07 0.06 1.13 (0.29) (0.47) (0.30) 0.20 0.31 0.31 0.47 0.17 1.13 (0.47) 0.52

VAMI 1.06 1.04 1.09 1.09 1.01 1.02 1.01 1.01 1.02 1.06 1.08 1.09 1.16 1.05 1.16 1.01 0.05

Excess Return on RFR -0.36% -0.62% -0.29% -0.32% -0.35% -0.13% -0.79% -0.88% -0.68% -0.04% 0.14% 0.10% 0.66% -0.22% 0.66% -0.88% 0.50%

Misc. Info

Last NAVs 8.2327 7.8873 8.2140 8.2457 7.2752 7.3609 7.2852 7.2756 7.3545 7.6620 7.8282 7.8898 8.3737 7.59 8.37 7.28 0.38

Payouts 0.1937 1.0268

Net Assets 192 175 179 178.44 171.86 173.87 171.80 155.51 157.17 162.92 165.75 166.52 176.60 166.89 176.60 155.51 7.35

MoM + / (-) % in NA 1.59% -8.85% 2.29% -0.32% -3.69% 1.17% -1.19% -9.48% 1.07% 3.65% 1.74% 0.46% 6.05% -0.12% 6.05% -9.48% 4.48%

Total + / (-) YTD % in NA -4.95% -13.37% -11.39% -11.67% -3.69% -2.56% -3.72% -12.85% -11.92% -8.70% -7.11% -6.68% -1.03% -6.47% -1.03% -12.85% 4.12%


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Funds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Maximum Minimum Std. Dev.

FUNDS SCREENING MEASURESFOR FY 2011-12ISLAMIC AGGRESSIVE INCOME FUNDS




Active Return / Alpha 0.22% -0.65% -0.51% -2.77% -0.38% -0.21% -0.39% 0.25% -0.35% -0.44% -0.65% -0.49% -0.38% -0.34% 0.25% -0.65% 0.25%

Corelation 0.31 0.33 0.35 0.27 (1.00) (0.26) (0.93) (0.19) 0.09 0.31 0.38 0.40 (0.15) 0.40 (1.00) 0.56

Beta 1.99 2.09 2.20 1.75 (1.99) (0.81) (3.17) (0.57) 0.27 1.14 1.42 1.46 (0.28) 1.46 (3.17) 1.68

R-Squared 0.09 0.11 0.12 0.08 1.00 0.07 0.86 0.04 0.01 0.10 0.15 0.16 0.30 1.00 0.01 0.40


Annualized Return (YTD) -3.44% -2.52% -1.63% -3.09% 9.14% 9.99% 9.68% 11.12% 10.53% 9.92% 9.09% 8.78% 8.63% 9.65% 11.12% 8.63% 0.83%






Risk Adjusted Return 0.26% -0.61% -0.47% -2.75% -0.35% -0.18% -0.36% 0.25% -0.34% -0.42% -0.64% -0.48% -0.37% -0.32% 0.25% -0.64% 0.25%

Coefficient of Variation (7.30) (9.66) (14.94) (7.23) 0.11 0.12 0.27 0.29 0.31 0.39 0.40 0.38 0.28 0.40 0.11 0.12

Sharpe (0.68) (0.67) (0.66) (0.75) (2.74) (3.12) (0.64) (0.78) (0.91) (0.99) (1.10) (1.19) (1.43) (0.64) (3.12) 0.94

Sortino (0.88) (0.88) (0.86) (0.94) (0.45) (0.31) (0.36) (0.23) (0.28) (0.35) (0.46) (0.51) (0.52) (0.39) (0.23) (0.52) 0.10

Treynor (0.01) (0.01) (0.01) (0.01) 0.00 0.00 0.00 0.00 (0.01) (0.00) (0.00) (0.00) (0.00) 0.00 (0.01) 0.00

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00

Tracking Error 1.93% 1.83% 1.74% 1.73% 0.12% 0.10% 0.30% 0.27% 0.26% 0.28% 0.27% 0.25% 0.23% 0.30% 0.10% 0.08%


VAMI 0.97 0.98 0.99 0.97 1.01 1.02 1.02 1.04 1.04 1.05 1.05 1.06 1.07 1.04 1.07 1.01 0.02


Misc. Info

Last NAVs 96.7493 97.2318 97.8400 96.2502 96.9957 97.8789 98.5923 99.8475 100.4876 101.0511 98.3917 98.8812 99.4900 99.07 101.05 97.00 1.28

Payouts 3.0000 3.00 3.00 3.00

Net Assets 203 203 207 207.35 202.82 215.45 218.02 221.56 223.14 223.77 217.32 218.43 221.44 218.00 223.77 202.82 6.34

MoM + / (-) % in NA 0.50% 0.00% 1.97% 0.17% -2.18% 6.23% 1.19% 1.62% 0.71% 0.28% -2.88% 0.51% 1.38% 0.73% 6.23% -2.88% 2.58%

Total + / (-) YTD % in NA -23.97% -23.97% -22.47% -22.34% -2.18% 3.91% 5.15% 6.85% 7.62% 7.92% 4.81% 5.35% 6.80% 5.14% 7.92% -2.18% 3.06%




Active Return / Alpha 0.20% -1.11% 0.21% -2.48% 0.03% 0.21% -2.31% -0.31% -0.13% -1.30% 0.68% 0.17% 2.24% -0.09% 2.24% -2.31% 1.26%

Corelation 0.26 0.19 0.20 0.09 (1.00) (0.01) (0.16) 0.13 (0.09) 0.02 0.02 (0.20) (0.16) 0.13 (1.00) 0.36

Beta 17.77 4.97 5.36 0.77 (40.69) (62.32) (21.65) (10.56) (39.17) (33.72) (41.87) (65.91) (39.49) (10.56) (65.91) 18.57

R-Squared 0.07 0.05 0.06 0.06 1.00 0.52 0.57 0.29 0.03 0.05 0.07 0.23 0.35 1.00 0.03 0.34



Annualized Return (MoM) 12.85% -2.55% 17.13% -16.61% 10.43% 12.48% -18.03% 5.93% 8.21% -6.00% 17.55% 12.28% 35.65% 7.79% 35.65% -18.03% 14.89%


Absolute Return (MoM) 1.00% -0.28% 1.05% -1.64% 0.88% 1.06% -1.48% 0.50% 0.67% -0.51% 1.49% 0.97% 3.02% 0.73% 3.02% -1.48% 1.25%



Risk Adjusted Return -0.10% -1.38% -0.05% -2.76% -0.24% -0.03% -2.56% -0.52% -0.30% -1.49% 0.51% 0.00% 2.03% -0.30% 2.03% -2.56% 1.27%

Coefficient of Variation 5.73 3.58 (59.15) (3.47) 0.14 (0.24) (0.37) (1.89) (0.14) (0.69) (1.43) (4.78) (1.18) 0.14 (4.78) 1.61

Sharpe (0.41) (0.44) (0.43) (0.50) (1.73) (1.46) (0.71) (0.70) (0.56) (0.50) (0.51) (0.43) (0.82) (0.43) (1.73) 0.49

Sortino (0.54) (0.58) (0.56) (0.62) (0.31) (0.19) (0.70) (0.75) (0.71) (0.38) (0.27) (0.30) 0.10 (0.39) 0.10 (0.75) 0.28

Treynor (0.00) (0.00) 0.01 (0.00) 0.00 0.00 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha 0.07 0.01 0.02 (0.01) (0.18) (0.21) (0.06) (0.03) (0.12) (0.10) (0.12) (0.20) (0.13) (0.03) (0.21) 0.07

Tracking Error 2.38% 2.29% 2.26% 2.28% 0.14% 1.43% 1.26% 1.13% 1.72% 1.69% 1.61% 1.82% 1.35% 1.82% 0.14% 0.54%


VAMI 1.01 1.01 1.02 1.01 1.01 1.02 1.00 1.01 1.02 1.01 1.03 1.04 1.07 1.02 1.07 1.00 0.02


Misc. Info

Last NAVs 68.18 68.40 68.17 66.44 64.48 65.13 64.10 64.62 64.94 63.41 63.11 63.75 64.77 64.26 65.13 63.11 0.70

Payouts 0.19 3.83 3.00 3.00 3.00 3.00

Net Assets 255.33 248.00 248.00 242.42 234.28 238.27 233.05 230.12 230.80 224.43 225.26 227.36 234.12 230.85 238.27 224.43 4.58

MoM + / (-) % in NA 0.25% -3.40% 0.69% -1.59% -3.26% 2.20% -1.65% -2.19% 0.47% -1.41% 0.33% 0.83% 3.28% -0.18% 3.28% -3.26% 2.14%

Total + / (-) YTD % in NA -29.08% -32.07% -31.21% -31.88% -3.26% -1.11% -2.66% -4.75% -4.30% -5.61% -5.53% -4.77% -1.70% -3.74% -1.11% -5.61% 1.64%

Category NA 766.00 744.00 744.00 727.25 702.83 714.81 699.14 690.36 692.41 673.29 675.78 682.08 702.36 692.56 714.81 673.29 13.73


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ISLAMIC STOCK FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min Std. Dev.




Active Return / Alpha -0.70% 0.35% -0.46% -1.00% -0.53% 1.44% -0.40% -1.66% 0.47% 0.25% 2.38% 0.14% 1.91% 0.44% 2.38% -1.66% 1.28%

Corelation 0.99 0.99 0.99 0.98 1.00 0.99 0.98 0.99 0.99 0.97 0.97 0.97 0.98 1.00 0.97 0.01

Beta 0.81 0.81 0.82 0.84 0.35 0.56 0.59 0.65 0.70 0.84 0.85 0.88 0.68 0.88 0.35 0.18

R-Squared 0.97 0.97 0.97 0.97 1.00 0.99 0.97 0.97 0.98 0.94 0.95 0.94 0.97 1.00 0.94 0.02










Sharpe 0.44 0.44 0.41 0.37 (0.83) (0.05) 0.04 (0.21) (0.40) (0.04) 0.08 0.16 (0.16) 0.16 (0.83) 0.32

Sortino 1.00 0.99 0.91 0.84 (0.57) (0.97) (0.11) 0.07 (0.35) (0.57) (0.08) 0.17 0.33 (0.23) 0.33 (0.97) 0.42

Treynor 0.03 0.03 0.02 0.02 (0.08) (0.00) 0.00 (0.01) (0.02) (0.00) 0.01 0.01 (0.01) 0.01 (0.08) 0.03

Jensen's Alpha 0.00 0.00 0.00 0.00 (0.02) (0.00) (0.00) (0.00) (0.01) 0.00 0.00 0.00 (0.00) 0.00 (0.02) 0.01

Tracking Error 1.01% 0.97% 0.92% 0.91% 1.40% 1.10% 1.28% 1.16% 1.05% 1.33% 1.24% 1.28% 1.23% 1.40% 1.05% 0.12%

Information Ratio (0.29) (0.24) (0.27) (0.35) 0.33 0.16 (0.22) (0.11) (0.07) 0.21 0.21 0.35 0.11 0.35 (0.22) 0.21

VAMI 1.34 1.37 1.38 1.39 1.01 0.97 1.02 1.05 1.01 0.96 1.05 1.12 1.17 1.04 1.17 0.96 0.07


Misc. Info

Last NAVs 49.97 51.02 51.32 51.57 41.88 40.23 42.58 43.58 41.82 39.89 43.78 46.40 48.68 43.20 48.68 39.89 2.84

Payouts 10.00

Net Assets 4,376 4,393 4,445 4,497.09 4,586.77 4,358.21 4,565.39 4,750.46 4,573.27 4,346.33 4,714.64 5,033.52 5,273.52 4,689.12 5,273.52 4,346.33 302.23

MoM + / (-) % in NA 5.80% 0.39% 1.18% 1.17% 1.99% -4.98% 4.75% 4.05% -3.73% -4.96% 8.47% 6.76% 4.77% 1.79% 8.47% -4.98% 5.17%

Total + / (-) YTD % in NA 10.34% 10.77% 12.08% 13.39% 1.99% -3.09% 1.52% 5.63% 1.69% -3.35% 4.84% 11.93% 17.27% 4.27% 17.27% -3.35% 6.72%




Active Return / Alpha -0.23% 1.16% -0.68% -1.51% 0.73% 0.55% 1.53% 0.18% 1.92% 0.40% 1.92% -1.51% 1.09%

Corelation 1.00 1.00 0.99 0.99 0.99 0.98 0.98 0.98 0.99 1.00 0.98 0.01

Beta 0.40 0.56 0.60 0.65 0.68 0.80 0.82 0.85 0.67 0.85 0.40 0.15

R-Squared 1.00 1.00 0.98 0.99 0.99 0.96 0.97 0.95 0.98 1.00 0.95 0.02





Absolute Return (MoM) 1.05% -4.23% 5.56% 2.49% -3.78% -4.31% 8.90% 6.02% 4.92% 1.74% 8.90% -4.31% 4.97%

Sum Abs. Return (MoM) 1.05% -3.18% 2.38% 4.87% 1.09% -3.22% 5.68% 11.70% 16.62% 4.11% 16.62% -3.22% 6.57%

Benchmark Return 1.28% -5.38% 6.24% 4.00% -4.51% -4.86% 7.37% 5.84% 3.00% 1.33% 7.37% -5.38% 5.10%

Risk Adjusted Return -0.12% -4.23% 5.56% 2.49% -3.78% -4.31% 8.90% 6.02% 4.92% 1.61% 8.90% -4.31% 5.01%

Coefficient of Variation (2.35) 6.18 3.36 19.28 (7.78) 6.43 3.54 2.69 3.92 19.28 (7.78) 7.80

Sharpe (0.73) (0.07) 0.03 (0.21) (0.39) (0.05) 0.07 0.15 (0.15) 0.15 (0.73) 0.29

Sortino (0.12) (0.89) (0.14) 0.05 (0.34) (0.55) (0.10) 0.15 0.32 (0.18) 0.32 (0.89) 0.37

Treynor (0.07) (0.01) 0.00 (0.01) (0.02) (0.00) 0.00 0.01 (0.01) 0.01 (0.07) 0.03

Jensen's Alpha (0.01) (0.00) (0.00) (0.00) (0.01) 0.00 0.00 0.00 (0.00) 0.00 (0.01) 0.01

Tracking Error 0.98% 0.96% 1.12% 1.07% 1.00% 1.08% 1.00% 1.09% 1.04% 1.12% 0.96% 0.06%

Information Ratio 0.47 0.09 (0.28) (0.10) 0.00 0.21 0.22 0.37 0.12 0.47 (0.28) 0.25

VAMI 1.01 0.97 1.02 1.05 1.01 0.96 1.05 1.11 1.17 1.04 1.17 0.96 0.07

Excess Return on RFR -0.12% -2.74% -0.34% 0.11% -0.87% -1.62% -0.27% 0.38% 0.77% -0.52% 0.77% -2.74% 1.08%

Misc. Info

Last NAVs 12.41 12.54 10.26 10.83 11.10 10.68 10.22 11.13 11.80 12.38 11.22 12.54 10.22 0.85

Payouts 1.75 1.75 1.75 1.75

Net Assets 1,707.32 1,724.23 1,392.10 1,466.62 1,540.21 1,478.73 1,409.72 1,538.79 1,607.81 1,641.64 1,533.32 1,724.23 1,392.10 109.80

MoM + / (-) % in NA 0.99% -19.26% 5.35% 5.02% -3.99% -4.67% 9.16% 4.49% 2.10% -0.43% 9.16% -19.26% 8.45%

Total + / (-) YTD % in NA 0.99% -18.46% -14.10% -9.79% -13.39% -17.43% -9.87% -5.83% -3.85% -10.19% 0.99% -18.46% 6.43%

FOR FY 2011-12

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Active Return / Alpha 3.32% 0.92% -0.74% -1.92% 1.29% 1.14% 1.15% -2.91% -1.84% -2.28% 3.63% 0.84% 9.78% 1.14% 9.78% -2.91% 3.84%

Corelation 0.95 0.95 0.95 0.95 1.00 1.00 0.91 0.93 0.94 0.95 0.96 0.87 0.95 1.00 0.87 0.04

Beta 0.90 0.90 0.92 0.94 0.51 0.67 0.65 0.80 0.89 1.03 1.05 1.13 0.84 1.13 0.51 0.22

R-Squared 0.90 0.90 0.90 0.90 1.00 1.00 0.84 0.87 0.89 0.91 0.92 0.77 0.90 1.00 0.77 0.08


Annualized Return (YTD) 30.33% -10.55% 21.74% 19.71% -0.36% -14.48% 4.97% 14.69% 31.71% 10.86% 31.71% -14.48% 16.90%

Annualized Return (MoM) 30.33% -50.15% 90.09% 12.97% -77.51% -84.27% 129.86% 84.30% 150.83% -6.92% 150.83% -84.27% 88.34%





Risk Adjusted Return 9.60% 1.50% -0.87% -1.60% 1.40% -4.25% 7.38% 1.10% -6.35% -7.14% 11.00% 6.68% 12.78% 2.27% 12.78% -7.14% 7.41%


Sharpe 0.42 0.43 0.39 0.34 (0.41) 0.13 0.12 (0.18) (0.38) (0.07) 0.04 0.21 (0.07) 0.21 (0.41) 0.24

Sortino 0.89 0.90 0.82 0.73 (0.66) 0.31 0.28 (0.29) (0.51) (0.12) 0.08 0.45 (0.06) 0.45 (0.66) 0.41

Treynor 0.03 0.03 0.02 0.02 (0.04) 0.01 0.01 (0.01) (0.02) (0.00) 0.00 0.01 (0.01) 0.01 (0.04) 0.02

Jensen's Alpha 0.00 0.00 0.00 (0.00) (0.00) 0.01 0.00 (0.00) (0.01) 0.00 0.00 0.01 0.00 0.01 (0.01) 0.01

Tracking Error 1.89% 1.81% 1.73% 1.74% 0.11% 0.09% 2.05% 1.99% 1.97% 2.40% 2.24% 3.84% 1.83% 3.84% 0.09% 1.23%

Information Ratio (0.03) 0.02 (0.02) (0.11) 11.13 13.80 0.08 (0.12) (0.29) 0.01 0.06 0.31 3.12 13.80 (0.29) 5.81

VAMI 1.37 1.40 1.41 1.40 1.03 0.98 1.05 1.07 1.00 0.93 1.03 1.10 1.24 1.05 1.24 0.93 0.09

Excess Return on RFR 2.56% 2.46% 2.16% 1.84% 1.40% -1.99% 0.77% 0.60% -1.00% -2.20% -0.46% 0.30% 1.56% -0.11% 1.56% -2.20% 1.38%

Misc. Info

Last NAVs 79.78 81.91 82.16 81.81 40.73 39.00 41.88 42.34 39.65 36.82 40.87 43.60 49.17 41.56 49.17 36.82 3.48

Payouts 42.10

Net Assets 236.50 243.87 243.92 235.62 226.79 216.74 228.80 239.59 224.88 214.21 235.43 248.08 273.64 234.24 273.64 214.21 18.21

MoM + / (-) % in NA 10.18% 3.12% 0.02% -3.40% -3.75% -4.43% 5.56% 4.72% -6.14% -4.75% 9.91% 5.37% 10.30% 1.68% 10.30% -6.14% 6.60%

Total + / (-) YTD % in NA -38.17% -36.24% -36.23% -38.40% -3.75% -8.01% -2.89% 1.69% -4.56% -9.09% -0.08% 5.29% 16.14% -0.58% 16.14% -9.09% 7.73%




Active Return / Alpha 0.64% -0.29% -0.83% -2.01% 0.48% 2.35% 0.18% 0.02% 0.14% -0.66% 3.21% 0.05% 3.37% 1.01% 3.37% -0.66% 1.53%

Corelation 0.97 0.96 0.96 0.95 1.00 1.00 1.00 0.99 0.98 0.97 0.97 0.96 0.98 1.00 0.96 0.01

Beta 0.71 0.73 0.74 0.77 0.36 0.54 0.60 0.71 0.79 0.91 0.91 0.94 0.72 0.94 0.36 0.21

R-Squared 0.93 0.93 0.92 0.90 1.00 0.99 0.99 0.97 0.96 0.95 0.95 0.93 0.97 1.00 0.93 0.03



Annualized Return (MoM) 0.21 -35.79% 78.35% 47.48% -53.37% -65.16% 124.95% 74.31% 75.23% 9.56% 124.95% -65.16% 67.16%





Risk Adjusted Return 6.92% 0.29% -0.96% -1.69% 0.58% -3.03% 6.42% 4.02% -4.37% -5.52% 10.58% 5.89% 6.37% 2.19% 10.58% -5.52% 5.65%

Coefficient of Variation 1.16 1.18 1.27 1.39 (5.29) 2.76 1.76 4.79 (40.20) 4.28 2.94 2.29 (3.33) 4.79 (40.20) 15.22

Sharpe 0.62 0.59 0.53 0.46 (0.53) 0.12 0.30 (0.03) (0.25) 0.05 0.15 0.25 0.01 0.30 (0.53) 0.28

Sortino 1.95 1.87 1.72 1.53 (0.83) 0.33 0.78 (0.05) (0.38) 0.11 0.33 0.54 0.10 0.78 (0.83) 0.52

Treynor 0.04 0.04 0.03 0.03 (0.05) 0.01 0.02 (0.00) (0.02) 0.00 0.01 0.01 (0.00) 0.02 (0.05) 0.02

Jensen's Alpha 0.01 0.01 0.01 0.00 (0.01) 0.01 0.01 0.00 0.00 0.01 0.01 0.01 0.01 0.01 (0.01) 0.01

Tracking Error 1.68% 1.60% 1.55% 1.60% 1.33% 1.18% 1.08% 0.98% 1.02% 1.41% 1.33% 1.53% 1.23% 1.53% 0.98% 0.20%


VAMI 1.42 1.44 1.45 1.44 1.02 0.99 1.05 1.09 1.04 0.99 1.09 1.16 1.23 1.07 1.23 0.99 0.08

Excess Return on RFR 2.94% 2.68% 2.35% 2.01% 0.58% -1.79% 0.58% 1.19% -0.13% -1.20% 0.33% 0.89% 1.38% 0.20% 1.38% -1.79% 1.07%

Misc. Info

Last NAVs 404.43 410.34 411.23 409.09 309.42 300.04 319.31 332.15 317.62 300.09 331.85 351.39 373.78 326.18 373.78 300.04 24.33

Payouts 105.00

Net Assets 284 290 326 318.78 311.58 330.96 367.90 403.32 383.40 377.56 414.96 446.13 514.33 394.46 514.33 311.58 60.78

MoM + / (-) % in NA 7.58% 2.11% 12.41% -2.22% -2.26% 6.22% 11.16% 9.63% -4.94% -1.52% 9.91% 7.51% 15.29% 5.46% 15.29% -4.94% 6.96%

Total + / (-) YTD % in NA 12.25% 14.62% 28.85% 26.00% -2.26% 3.82% 15.41% 26.52% 20.27% 18.44% 30.17% 39.95% 61.34% 23.74% 61.34% -2.26% 19.07%

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Standard Deviation 3.43% 2.73% 3.92% 3.39% 4.20% 4.60% 5.14% 5.01% 4.70% 4.21% 5.14% 2.73% 0.83%

Downside Deviation 0.81% 0.00% 1.38% 1.13% 0.98% 2.08% 2.88% 2.67% 2.50% 2.35% 1.77% 2.88% 0.00% 0.96%

Active Return / Alpha 2.65% -2.64% 0.63% 3.43% -0.35% 0.18% 0.30% -0.46% 0.55% -0.20% 0.03% 0.45% 3.43% -0.46% 1.18%

Corelation (1.00) 1.00 1.00 1.00 0.97 0.96 0.97 0.97 0.97 0.98 1.00 0.96 0.01

Beta (5.46) 0.29 0.45 0.50 0.63 0.73 0.78 0.79 0.80 0.62 0.80 0.29 0.19

R-Squared 1.00 1.00 0.99 0.99 0.94 0.92 0.94 0.95 0.95 0.96 1.00 0.92 0.03





Absolute Return (MoM) 3.69% -1.15% 1.91% -1.96% 5.89% 4.18% -4.21% -5.32% 7.92% 5.64% 3.03% 1.80% 7.92% -5.32% 4.70%

Sum Abs. Return (MoM) 3.69% 2.54% 1.91% -0.05% 5.84% 10.02% 5.81% 0.49% 8.41% 14.05% 17.08% 7.06% 17.08% -0.05% 5.95%

Benchmark Return 1.05% 1.49% 1.28% -5.38% 6.24% 4.00% -4.51% -4.86% 7.37% 5.84% 3.00% 1.33% 7.37% -5.38% 5.10%

Risk Adjusted Return 2.52% -2.32% 0.73% -1.96% 5.89% 4.18% -4.21% -5.32% 7.92% 5.64% 3.03% 1.67% 7.92% -5.32% 4.72%

Coefficient of Variation 2.69 (108.82) 2.02 1.35 3.61 56.55 4.28 2.85 2.48 (4.46) 56.55 (108.82) 46.19

Sharpe 0.03 (0.43) 0.21 0.41 0.02 (0.22) 0.02 0.14 0.17 0.04 0.41 (0.43) 0.26

Sortino 0.12 (0.85) 0.72 1.43 0.04 (0.35) 0.05 0.27 0.35 0.21 1.43 (0.85) 0.68

Treynor (0.00) (0.04) 0.02 0.03 0.00 (0.01) 0.00 0.01 0.01 0.00 0.03 (0.04) 0.02

Jensen's Alpha 0.01 (0.00) 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.01 (0.00) 0.00

Tracking Error 3.74% 1.98% 1.96% 1.69% 1.49% 1.43% 1.31% 1.25% 1.18% 1.54% 1.98% 1.18% 0.31%

Information Ratio 0.00 1.03 0.63 0.58 0.56 0.43 0.47 0.41 0.39 0.56 1.03 0.39 0.21

VAMI 1.04 1.03 1.02 1.00 1.06 1.10 1.06 1.00 1.08 1.14 1.17 1.07 1.17 1.00 0.06

Excess Return on RFR 2.52% 0.10% 0.73% -1.17% 0.81% 1.40% 0.08% -1.00% 0.12% 0.68% 0.82% 0.27% 1.40% -1.17% 0.87%

Misc. Info

Last NAVs 103.6948 102.5007 102.8762 100.8623 106.7990 111.2674 106.5853 100.9107 108.9031 115.0483 118.5384 107.98 118.54 100.86 6.16

Payouts 1.5500

Net Assets 266.12 268.59 273.79 268.76 284.31 301.07 288.91 273.65 292.31 312.51 341.73 293.00 341.73 268.76 23.03

MoM + / (-) % in NA 0.93% 1.94% -1.84% 5.79% 5.90% -4.04% -5.28% 6.82% 6.91% 9.35% 2.71% 9.35% -5.28% 5.35%

Total + / (-) YTD % in NA 0.93% 1.94% 0.06% 5.85% 12.10% 7.57% 1.88% 8.83% 16.35% 27.23% 9.09% 27.23% 0.06% 8.58%




Active Return / Alpha 1.08% 0.32% 0.16% -1.89% 0.33% 1.90% -0.02% -1.09% -0.23% -0.79% 2.44% 0.21% 3.77% 0.71% 3.77% -1.09% 1.62%

Corelation 0.97 0.97 0.97 0.47 1.00 1.00 0.97 0.97 0.97 0.97 0.97 0.95 0.97 1.00 0.95 0.02

Beta 0.80 0.81 0.83 (0.73) 0.38 0.55 0.59 0.70 0.78 0.89 0.90 0.94 0.72 0.94 0.38 0.20

R-Squared 0.94 0.93 0.93 0.94 1.00 0.99 0.95 0.94 0.94 0.94 0.94 0.90 0.95 1.00 0.90 0.03








Risk Adjusted Return 7.37% 0.90% 0.03% -1.58% 0.43% -3.48% 6.22% 2.91% -4.74% -5.65% 9.81% 6.05% 6.77% 1.90% 9.81% -5.65% 5.65%


Sharpe 0.50 0.49 0.44 0.30 (0.59) 0.07 0.22 (0.10) (0.31) (0.01) 0.10 0.20 (0.05) 0.22 (0.59) 0.28

Sortino 1.28 1.25 1.15 0.81 (0.35) (0.84) 0.22 0.64 (0.17) (0.45) (0.01) 0.21 0.42 (0.04) 0.64 (0.84) 0.46

Treynor 0.03 0.03 0.03 1.66% -5.53% 0.60% 1.49% -0.67% -1.95% -0.05% 0.66% 1.20% (0.01) 0.01 (0.06) 0.02

Jensen's Alpha 0.01 0.00 0.00 0.26% -0.86% 0.55% 0.58% 0.05% -0.27% 0.38% 0.42% 0.80% 0.00 0.01 (0.01) 0.01

Tracking Error 1.53% 1.46% 1.40% 2.00% 1.16% 1.06% 1.52% 1.40% 1.37% 1.61% 1.51% 1.95% 1.45% 1.95% 1.06% 0.28%


VAMI 1.38 1.41 1.32 1.31 1.02 0.98 1.04 1.08 1.03 0.97 1.06 1.13 1.20 1.06 1.20 0.97 0.07

Excess Return on RFR 2.61% 2.44% 2.24% 1.42% 0.43% -2.09% 0.32% 0.83% -0.49% -1.52% -0.06% 0.57% 1.14% -0.10% 1.14% -2.09% 1.09%

Misc. Info

Last NAVs 178.0600 181.0900 162.1012 161.2427 101.4892 98.0785 104.2798 132.3344 126.4188 119.4277 131.3508 139.1096 147.5421 122.23 147.54 98.08 17.58

Payouts 39.6625 1.7500 1.75 1.75 1.75

Net Assets 1,632.17 1,642.29 1,320.26 1,330.02 1,424.63 1,313.36 1,382.60 1,423.61 1,367.62 1,302.93 1,414.33 1,510.06 1,600.80 1,415.55 1,600.80 1,302.93 93.48

MoM + / (-) % in NA 7.85% 1.87% 4.54% -0.88% -0.22% -4.86% 6.52% 6.07% -4.71% -4.13% 8.78% 6.64% 9.93% 2.51% 9.93% -4.86% 6.10%

Total + / (-) YTD % in NA -5.19% -3.62% 1.57% 0.48% -0.22% -5.13% 1.16% 11.48% 6.24% 1.97% 10.94% 18.38% 30.49% 8.37% 30.49% -5.13% 10.95%

Category NA 4,896.50 4,926.87 5,281.04 5,320.07 7,123.15 6,566.78 6,913.02 5,694.44 5,470.46 5,211.73 5,657.34 6,040.24 6,403.22 6,120.04 7,123.15 5,211.73 667.40

1.17% 1.17% 1.17% 1.17% 1.17% 1.12% 1.10% 1.01% 1.03% 1.06% 1.06% 1.07% 1.09% 1.08% 1.17% 1.01% 0.05%Risk Free Rate - 10Y PIB (MoM)

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ISLAMIC BALANCED FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min SD




Active Return / Alpha 0.95% -2.48% 2.06% -1.49% 0.37% 1.73% -3.88% -0.63% 0.20% 0.91% -0.58% 0.45% 3.83% 0.25% 3.83% -3.88% 2.06%

Corelation 0.89 0.87 0.84 0.84 1.00 0.15 0.34 0.58 0.64 0.76 0.78 0.67 0.62 1.00 0.15 0.27

Beta 0.96 1.03 0.99 1.03 0.29 0.04 0.12 0.26 0.30 0.44 0.53 0.59 0.32 0.59 0.04 0.19

R-Squared 0.80 0.76 0.70 0.70 1.00 0.02 0.11 0.33 0.41 0.58 0.62 0.45 0.44 1.00 0.02 0.31


Annualized Return (YTD) 15.63% 4.19% 1.01% 5.99% 0.51% -2.00% 4.02% 9.17% 16.10% 6.07% 16.10% -2.00% 6.43%

Annualized Return (MoM) 15.63% -7.15% -5.51% 20.70% -21.50% -14.39% 40.21% 46.21% 66.57% 12.16% 66.57% -21.50% 30.43%

Absolute Return (YTD) 1.32% 0.71% 0.25% 2.01% 0.21% -1.01% 2.36% 6.11% 12.09% 2.68% 12.09% -1.01% 4.07%

Absolute Return (MoM) 4.96% -1.29% 2.93% -0.42% 1.32% -0.61% -0.45% 1.75% -1.76% -1.22% 3.41% 3.66% 5.64% 1.28% 5.64% -1.76% 2.54%

Sum Abs. Return (MoM) 24.47% 23.18% 26.10% 25.69% 1.32% 0.72% 0.27% 2.02% 0.26% -0.96% 2.44% 6.10% 11.74% 2.66% 11.74% -0.96% 3.95%


Risk Adjusted Return 3.82% -2.43% 1.79% -1.56% 0.17% -1.71% -1.54% 0.74% -2.77% -2.24% 2.39% 2.64% 4.60% 0.22% 4.60% -2.77% 2.54%

Coefficient of Variation 1.06 1.29 1.20 1.32 3.80 12.09 2.39 28.41 (8.74) 5.33 2.73 1.94 5.99 28.41 (8.74) 10.70

Sharpe 0.56 0.40 0.44 0.36 (0.56) (0.96) (0.49) (0.70) (0.87) (0.38) (0.14) 0.10 (0.50) 0.10 (0.96) 0.36

Sortino 2.11 1.45 1.59 1.34 (1.79) (2.35) (1.55) (1.19) (1.32) (0.83) (0.36) 0.33 (1.13) 0.33 (2.35) 0.84

Treynor 0.02 0.01 0.01 0.01 (0.03) (0.27) (0.05) (0.04) (0.04) (0.02) (0.01) 0.00 (0.06) 0.00 (0.27) 0.09

Jensen's Alpha 0.00 0.00 0.00 0.00 (0.00) (0.01) (0.01) (0.01) (0.01) (0.01) (0.00) 0.00 (0.01) 0.00 (0.01) 0.00

Tracking Error 1.30% 1.51% 1.56% 1.56% 0.96% 2.93% 2.39% 2.10% 1.96% 1.79% 1.68% 2.06% 1.99% 2.93% 0.96% 0.57%

Information Ratio 0.25 0.03 0.15 0.06 1.10 (0.20) (0.25) (0.21) (0.11) (0.15) (0.11) 0.13 0.02 1.10 (0.25) 0.45

VAMI 1.27 1.25 1.29 1.28 1.01 1.01 1.00 1.02 1.00 0.99 1.02 1.06 1.12 1.03 1.12 0.99 0.04

Excess Return on RFR 1.61% 1.21% 1.26% 1.03% 0.17% -0.77% -1.03% -0.59% -1.02% -1.23% -0.71% -0.29% 0.25% -0.58% 0.25% -1.23% 0.53%

Misc. Info

Last NAVs 10.9508 10.5438 10.8523 10.8072 9.2244 9.1685 9.1271 9.2871 9.1234 9.0122 9.3191 9.6603 10.2050 9.35 10.21 9.01 0.37

Payouts 0.2655 1.7033

Net Assets 283 279 288 288.58 280.82 279.37 247.74 250.32 245.01 241.98 246.09 253.77 267.64 256.97 280.82 241.98 15.04

MoM + / (-) % in NA 4.81% -1.41% 3.23% 0.35% -2.69% -0.51% -11.32% 1.04% -2.12% -1.23% 1.70% 3.12% 5.47% -0.83% 5.47% -11.32% 4.75%

Total + / (-) YTD % in NA -26.87% -27.91% -25.58% -25.32% -2.69% -3.19% -14.15% -13.26% -15.10% -16.15% -14.72% -12.06% -7.26% -10.95% -2.69% -16.15% 5.21%





Active Return / Alpha 2.68% 0.86% -1.61% -2.86% -0.61% 0.56% -0.35% -0.20% -0.94% 0.63% 1.32% 1.61% 2.46% 0.49% 2.46% -0.94% 1.13%

Corelation 0.97 0.97 0.96 0.95 1.00 0.99 0.99 0.98 0.97 0.96 0.96 0.94 0.97 1.00 0.94 0.02

Beta 1.28 1.29 1.32 1.36 0.32 0.55 0.63 0.77 0.76 0.89 0.97 1.01 0.74 1.01 0.32 0.23

R-Squared 0.94 0.94 0.93 0.89 1.00 0.98 0.98 0.95 0.94 0.93 0.92 0.88 0.95 1.00 0.88 0.04










Sharpe 0.38 0.38 0.32 0.23 (1.11) (0.17) 0.00 (0.30) (0.43) (0.09) 0.08 0.20 (0.23) 0.20 (1.11) 0.41

Sortino 0.75 0.76 0.65 0.48 (1.24) (1.39) (0.42) 0.00 (0.52) (0.71) (0.19) 0.21 0.51 (0.41) 0.51 (1.39) 0.63

Treynor 0.01 0.01 0.01 0.01 (0.05) (0.01) 0.00 (0.01) (0.01) (0.00) 0.00 0.01 (0.01) 0.01 (0.05) 0.02

Jensen's Alpha 0.00 0.00 (0.00) (0.00) (0.01) (0.00) (0.00) (0.00) (0.00) 0.00 0.00 0.00 (0.00) 0.00 (0.01) 0.00

Tracking Error 1.65% 1.56% 1.61% 1.79% 0.83% 0.61% 0.50% 0.56% 0.63% 0.80% 0.92% 1.13% 0.75% 1.13% 0.50% 0.21%

Information Ratio 0.27 0.31 0.18 0.02 (0.03) (0.21) (0.29) (0.55) (0.24) 0.07 0.28 0.44 (0.07) 0.44 (0.55) 0.32

VAMI 1.27 1.29 1.29 1.26 1.01 0.99 1.02 1.04 1.01 1.00 1.05 1.11 1.16 1.04 1.16 0.99 0.06


Misc. Info

Last NAVs 84.61 86.47 85.95 84.54 70.44 69.28 71.51 73.15 71.10 70.12 73.92 77.56 80.99 73.12 80.99 69.28 3.87

Payouts 14.46

Net Assets 499 504 487 478.00 485.69 472.56 483.49 489.69 473.92 459.00 481.64 499.58 519.35 484.99 519.35 459.00 17.26

MoM + / (-) % in NA 7.08% 1.00% -3.37% -1.85% 1.61% -2.70% 2.31% 1.28% -3.22% -3.15% 4.93% 3.72% 3.96% 0.93% 4.93% -3.22% 3.21%

Total + / (-) YTD % in NA -4.77% -3.82% -7.06% -8.78% 1.61% -1.14% 1.15% 2.45% -0.85% -3.98% 0.76% 4.51% 8.65% 1.46% 8.65% -3.98% 3.61%



FOR FY 2011-12

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ISLAMIC BALANCED FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min SD


FOR FY 2011-12




Active Return / Alpha 0.49% -1.10% -0.17% -2.03% -0.12% 1.15% -2.12% -0.41% -0.37% 0.77% 0.37% 1.03% 3.15% 0.37% 3.15% -2.12% 1.44%

Corelation 0.68 0.67 0.65 0.65 1.00 0.57 0.66 0.78 0.81 0.86 0.87 0.80 0.79 1.00 0.57 0.13

Beta 2.45 2.39 2.01 1.98 0.31 0.30 0.38 0.52 0.53 0.67 0.75 0.80 0.53 0.80 0.30 0.20

R-Squared 0.55 0.54 0.52 0.51 1.00 0.50 0.55 0.64 0.68 0.76 0.77 0.66 0.69 1.00 0.50 0.15










Sharpe 0.22 0.17 0.15 0.09 (0.84) (0.57) (0.24) (0.50) (0.65) (0.23) (0.03) 0.15 (0.36) 0.15 (0.84) 0.33

Sortino 0.66 0.51 0.48 0.31 (1.24) (1.59) (1.39) (0.77) (0.85) (1.01) (0.51) (0.08) 0.42 (0.78) 0.42 (1.59) 0.64

Treynor 0.02 0.01 0.01 0.00 (0.04) (0.14) (0.02) (0.02) (0.03) (0.01) (0.00) 0.01 (0.03) 0.01 (0.14) 0.05

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.01) (0.01) (0.00) (0.01) (0.01) (0.00) 0.00 0.00 (0.00) 0.00 (0.01) 0.00

Tracking Error 2.59% 2.53% 2.45% 2.43% 0.89% 1.77% 1.45% 1.33% 1.30% 1.30% 1.30% 1.60% 1.37% 1.77% 0.89% 0.26%

Information Ratio (0.12) (0.17) (0.17) (0.24) 0.53 (0.21) (0.27) (0.38) (0.17) (0.04) 0.08 0.28 (0.02) 0.53 (0.38) 0.31

VAMI 1.18 1.18 1.19 1.18 1.01 1.00 1.01 1.03 1.01 1.00 1.04 1.08 1.14 1.04 1.14 1.00 0.05


Misc. Info

Last NAVs 69.2617 69.6827 69.9820 69.0396 39.83 39.22 40.32 41.22 40.11 39.57 41.62 43.61 45.60 41.23 45.60 39.22 2.11

Payouts 0.2655 8.2951

Net Assets 297.15 296.87 294.95 290.08 383.26 375.97 365.61 370.01 359.46 350.49 363.87 376.67 393.50 370.98 393.50 350.49 12.98

MoM + / (-) % in NA 3.38% 0.00% -0.16% -1.24% -0.54% -1.61% -4.51% 1.16% -2.67% -2.19% 3.32% 3.42% 4.71% 0.08% 4.71% -4.51% 3.19%

Total + / (-) YTD % in NA 4.95% 5.14% 5.03% 3.52% -0.54% -2.16% -6.50% -5.41% -7.98% -10.06% -6.98% -3.78% 0.70% -4.75% 0.70% -10.06% 3.57%


Category NA 2,080.02 2,078.10 2,064.68 2,030.54 766.51 751.93 731.22 740.02 718.92 700.98 727.74 753.35 786.99 741.96 786.99 700.98 25.96

IND

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ISLAMIC ASSET ALLOCATION FUNDSFunds Measures Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min SD




Active Return / Alpha 0.68% 0.15% 0.64% -4.76% -0.37% 1.31% -0.32% -1.17% 1.11% 1.01% -1.02% -0.81% 0.35% 0.01% 1.31% -1.17% 0.96%

Corelation 0.03 0.03 0.04 0.07 (1.00) 0.81 0.56 0.58 0.62 0.72 0.74 0.70 0.47 0.81 (1.00) 0.60

Beta 0.10 0.12 0.14 0.27 (0.01) 0.27 0.22 0.21 0.23 0.25 0.26 0.28 0.22 0.28 (0.01) 0.09

R-Squared 0.00 0.00 0.00 0.00 1.00 0.66 0.32 0.33 0.39 0.51 0.55 0.49 0.53 1.00 0.32 0.22








Risk Adjusted Return 1.73% -0.22% 0.10% -5.21% -0.88% -0.82% 0.46% -0.87% -0.70% -0.89% 0.14% -0.04% 0.40% -0.36% 0.46% -0.89% 0.59%


Sharpe 0.12 0.11 0.10 0.01 (64.94) (0.56) (0.80) (0.96) (1.13) (0.90) (0.82) (0.61) (8.84) (0.56) (64.94) 22.67

Sortino 0.59 0.52 0.51 0.05 (3.36) (3.14) (1.87) (2.58) (2.50) (2.94) (2.61) (1.16) (0.97) (2.35) (0.97) (3.36) 0.84

Treynor 0.07 0.05 0.04 0.00 1.53 (0.01) (0.02) (0.03) (0.03) (0.02) (0.02) (0.01) 0.17 1.53 (0.03) 0.55

Jensen's Alpha 0.01 0.01 0.01 0.00 (0.01) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.01) 0.00

Tracking Error 6.10% 5.75% 5.46% 5.42% 1.19% 0.96% 1.04% 1.06% 1.02% 1.05% 1.02% 0.96% 1.04% 1.19% 0.96% 0.07%

Information Ratio 0.09 0.09 0.09 0.01 0.40 0.21 (0.13) 0.11 0.26 0.08 (0.03) 0.01 0.11 0.40 (0.13) 0.17

VAMI 1.16 1.17 1.18 1.13 1.00 1.01 1.02 1.02 1.03 1.03 1.04 1.05 1.06 1.03 1.06 1.00 0.02


Misc. Info

Last NAVs 114.5979 115.6261 117.0327 112.2587 102.0238 102.3084 103.8918 104.0439 104.3469 104.4637 105.6514 106.6715 108.1787 104.62 108.18 102.02 1.97

Payouts 10.5000

Net Assets 352.80 355.97 360.30 344.30 329.05 329.78 334.89 335.38 336.36 336.74 339.16 342.44 347.26 336.78 347.26 329.05 5.72

MoM + / (-) % in NA 2.85% 0.90% 1.22% -4.44% -4.43% 0.22% 1.55% 0.15% 0.29% 0.11% 0.72% 0.97% 1.41% 0.10% 1.55% -4.43% 1.79%

Total + / (-) YTD % in NA 52.40% 53.77% 55.64% 48.73% -4.43% -4.22% -2.73% -2.59% -2.30% -2.20% -1.49% -0.54% 0.86% -2.18% 0.86% -4.43% 1.66%





Active Return / Alpha -1.90% -0.56% -0.42% -0.22% 0.24% 0.46% -0.30% 1.47% -0.24% -0.49% -0.14% 0.19% -0.18% 0.11% 1.47% -0.49% 0.59%

Corelation 0.69 0.68 0.67 0.66 1.00 1.00 0.96 0.97 0.97 0.97 0.98 0.98 0.98 1.00 0.96 0.01

Beta 0.86 0.85 0.84 0.83 0.47 0.58 0.73 0.84 0.91 0.89 0.91 0.92 0.78 0.92 0.47 0.17

R-Squared 0.48 0.46 0.45 0.44 1.00 1.00 0.92 0.94 0.94 0.95 0.95 0.95 0.96 1.00 0.92 0.03








Risk Adjusted Return 1.01% -0.51% -0.71% -0.31% 0.05% -3.02% 2.05% 2.78% -3.18% -3.61% 2.87% 2.41% 0.61% 0.07% 2.87% -3.61% 2.70%


Sharpe (0.24) (0.24) (0.25) (0.25) (0.67) (0.12) 0.18 (0.09) (0.29) (0.10) 0.02 0.04 (0.13) 0.18 (0.67) 0.26

Sortino (0.35) (0.35) (0.36) (0.35) (1.10) (0.28) 0.49 (0.20) (0.52) (0.20) 0.03 0.08 (0.21) 0.49 (1.10) 0.46

Treynor (0.01) (0.01) (0.01) (0.01) (0.03) (0.01) 0.01 (0.00) (0.01) (0.00) 0.00 0.00 (0.01) 0.01 (0.03) 0.01

Jensen's Alpha (0.02) (0.02) (0.02) (0.01) (0.01) (0.00) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.01) 0.00

Tracking Error 2.87% 2.75% 2.64% 2.56% 0.15% 0.39% 0.74% 0.71% 0.72% 0.67% 0.62% 0.59% 0.57% 0.74% 0.15% 0.20%


VAMI 1.01 1.01 1.02 1.03 1.01 0.99 1.02 1.06 1.04 1.01 1.05 1.09 1.11 1.04 1.11 0.99 0.04

Excess Return on RFR -0.96% -0.91% -0.89% -0.85% 0.05% -1.48% -0.31% 0.47% -0.26% -0.82% -0.29% 0.04% 0.11% -0.28% 0.47% -1.48% 0.58%

Misc. Info

Last NAVs 55.67 56.02 56.26 56.73 53.87 52.84 54.50 56.57 55.33 53.89 55.97 57.88 58.82 55.52 58.82 52.84 1.98

Payouts 3.50

Net Assets 323.80 325.59 324.73 327.40 311.51 305.53 315.08 327.00 319.81 311.49 323.50 334.51 339.97 320.93 339.97 305.53 11.41

MoM + / (-) % in NA 2.15% 0.55% -0.26% 0.82% -4.85% -1.92% 3.13% 3.78% -2.20% -2.60% 3.86% 3.40% 1.63% 0.42% 3.86% -4.85% 3.36%

Total + / (-) YTD % in NA -2.38% -1.84% -2.10% -1.29% -4.85% -6.68% -3.76% -0.12% -2.32% -4.86% -1.19% 2.17% 3.84% -1.97% 3.84% -6.68% 3.48%



FOR FY 2011-12

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FOR FY 2011-12




Active Return / Alpha 1.93% -4.72% -0.32% -2.67% -0.99% 1.87% 2.18% -4.77% 0.15% -0.79% 0.85% -0.74% 4.62% 0.23% 4.62% -4.77% 2.61%

Corelation 0.89 0.88 0.87 0.88 1.00 0.91 0.67 0.74 0.79 0.88 0.90 0.84 0.84 1.00 0.67 0.10

Beta 0.82 0.85 0.84 0.86 0.21 0.64 0.39 0.48 0.56 0.74 0.76 0.80 0.57 0.80 0.21 0.21

R-Squared 0.80 0.77 0.76 0.77 1.00 0.82 0.45 0.55 0.62 0.77 0.80 0.71 0.72 1.00 0.45 0.17





Absolute Return (MoM) 7.18% -2.54% 0.11% -1.97% -0.89% -2.93% 4.98% 0.43% -3.35% -4.59% 8.15% 5.16% 6.72% 1.42% 8.15% -4.59% 4.80%





Sharpe 0.24 0.14 0.12 0.05 (2.12) (0.18) (0.21) (0.43) (0.62) (0.17) (0.04) 0.09 (0.46) 0.09 (2.12) 0.70

Sortino 0.47 0.27 0.23 0.10 (2.32) (1.41) (0.42) (0.45) (0.70) (0.81) (0.34) (0.09) 0.20 (0.70) 0.20 (2.32) 0.76

Treynor 0.01 0.01 0.01 0.00 (0.15) (0.01) (0.02) (0.03) (0.04) (0.01) (0.00) 0.01 (0.03) 0.01 (0.15) 0.05

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.02) 0.00 (0.01) (0.01) (0.01) (0.00) (0.00) 0.00 (0.01) 0.00 (0.02) 0.01

Tracking Error 2.13% 2.27% 2.19% 2.11% 2.02% 1.75% 3.23% 2.81% 2.52% 2.35% 2.18% 2.61% 2.43% 3.23% 1.75% 0.47%

Information Ratio (0.65) (0.76) (0.73) (0.80) 0.22 0.58 (0.13) (0.11) (0.16) (0.09) (0.13) 0.10 0.04 0.58 (0.16) 0.26

VAMI 1.20 1.17 1.17 1.15 0.99 0.96 1.01 1.01 0.98 0.94 1.01 1.06 1.14 1.01 1.14 0.94 0.06


Misc. Info

Last NAVs 45.70 44.54 44.59 43.71 37.79 36.68 38.51 38.68 37.38 35.66 38.57 40.56 43.28 38.57 43.28 35.66 2.24

Payouts 5.58

Net Assets 370 360 350 337.21 326.07 306.91 319.31 312.50 299.54 272.07 283.08 293.05 312.00 302.72 326.07 272.07 17.49

MoM + / (-) % in NA 0.00% -2.70% -2.78% -3.71% -3.30% -5.88% 4.04% -2.13% -4.15% -9.17% 4.05% 3.52% 6.47% -0.86% 6.47% -9.17% 5.40%

Total + / (-) YTD % in NA -9.76% -12.20% -14.63% -17.80% -3.30% -8.99% -5.31% -7.33% -11.17% -19.32% -16.05% -13.10% -7.48% -10.23% -3.30% -19.32% 5.19%





Active Return / Alpha -2.61% -0.06% -0.49% -0.71% 0.72% 1.71% -3.21% -0.66% 0.50% 0.41% -0.62% 0.49% 2.04% 0.14% 2.04% -3.21% 1.55%

Corelation 0.80 0.81 0.81 0.81 1.00 0.47 0.55 0.70 0.76 0.84 0.84 0.80 0.75 1.00 0.47 0.17

Beta 0.75 0.76 0.78 0.79 0.35 0.12 0.19 0.30 0.37 0.49 0.57 0.61 0.37 0.61 0.12 0.17

R-Squared 0.65 0.65 0.66 0.66 1.00 0.22 0.31 0.49 0.58 0.70 0.71 0.64 0.58 1.00 0.22 0.25


Annualized Return (YTD) 18.75% 4.97% 4.19% 8.09% 2.88% -1.10% 4.72% 9.82% 14.11% 7.38% 18.75% -1.10% 6.09%


Absolute Return (YTD) 1.59% 0.84% 1.05% 2.72% 1.21% -0.56% 2.78% 6.55% 10.60% 2.98% 10.60% -0.56% 3.48%


Sum Abs. Return (MoM) 19.39% 20.50% 20.82% 21.12% 1.59% 0.85% 1.06% 2.71% 1.24% -0.50% 2.85% 6.52% 10.32% 2.96% 10.32% -0.50% 3.39%


Risk Adjusted Return 0.31% -0.03% -0.82% -0.85% 0.44% -1.84% -0.88% 0.63% -2.47% -2.76% 2.33% 2.64% 2.77% 0.07% 2.77% -2.76% 2.19%

Coefficient of Variation 1.54 1.54 1.60 1.66 3.85 3.30 1.70 5.60 (17.73) 4.61 2.56 1.91 0.72 5.60 (17.73) 7.57

Sharpe 0.32 0.30 0.26 0.22 (0.43) (0.65) (0.36) (0.60) (0.78) (0.35) (0.11) 0.04 (0.40) 0.04 (0.78) 0.27

Sortino 0.78 0.71 0.62 0.53 (1.35) (1.73) (1.08) (1.11) (1.17) (0.72) (0.28) 0.12 (0.92) 0.12 (1.73) 0.60

Treynor 0.01 0.01 0.01 0.01 (0.02) (0.06) (0.02) (0.03) (0.03) (0.01) (0.00) 0.00 (0.02) 0.00 (0.06) 0.02

Jensen's Alpha 0.00 0.00 (0.00) (0.00) (0.00) (0.01) (0.00) (0.01) (0.01) (0.00) (0.00) 0.00 (0.00) 0.00 (0.01) 0.00

Tracking Error 2.03% 1.92% 1.82% 1.74% 0.70% 2.60% 2.13% 1.89% 1.71% 1.57% 1.47% 1.55% 1.70% 2.60% 0.70% 0.55%

Information Ratio (0.13) (0.13) (0.15) (0.17) 1.74 (0.10) (0.17) (0.10) (0.05) (0.11) (0.06) 0.10 0.16 1.74 (0.17) 0.64

VAMI 1.21 1.22 1.22 1.23 1.02 1.01 1.01 1.03 1.01 0.99 1.03 1.07 1.11 1.03 1.11 0.99 0.03

Excess Return on RFR 1.05% 0.94% 0.78% 0.64% 0.44% -0.70% -0.76% -0.41% -0.83% -1.15% -0.65% -0.24% 0.10% -0.47% 0.44% -1.15% 0.50%

Misc. Info

Last NAVs 62.30 62.99 63.19 63.38 53.08 52.69 52.80 53.67 52.88 51.96 53.70 55.67 57.79 53.80 57.79 51.96 1.82

Payouts 11.13

Net Assets 128.35 129.74 129.99 130.37 107.42 106.79 107.07 108.87 117.30 105.35 108.88 112.87 119.47 110.45 119.47 105.35 4.99

MoM + / (-) % in NA 3.52% 1.08% 0.19% 0.28% -17.60% -0.58% 0.26% 1.67% 7.74% -10.18% 3.35% 3.66% 5.85% -0.97% 7.74% -17.60% 8.15%

Total + / (-) YTD % in NA 17.04% 18.31% 18.54% 18.88% -17.60% -18.08% -17.87% -16.49% -10.03% -19.19% -16.48% -13.42% -8.36% -15.28% -8.36% -19.19% 3.83%


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PA

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FOR FY 2011-12




Active Return / Alpha 1.67% -0.86% -1.07% -1.52% -1.31% -2.21% 2.24% -1.08% -3.46% -5.00% 5.27% 1.74% 0.82% -0.38% 5.27% -5.00% 3.17%

Corelation 0.45 0.42 0.34 0.32 1.00 (0.56) (0.11) 0.44 0.58 0.33 0.14 0.10 0.24 1.00 (0.56) 0.47

Beta 12.37 11.82 9.14 8.71 9.52 (24.28) (2.83) 9.27 14.93 13.48 5.12 3.81 3.63 14.93 (24.28) 12.62

R-Squared 0.20 0.18 0.12 0.10 1.00 0.32 0.01 0.19 0.34 0.11 0.02 0.01 0.25 1.00 0.01 0.33










Sharpe 0.14 0.10 0.06 (0.00) (2.19) (0.06) (0.16) (0.41) (0.61) (0.15) (0.06) (0.02) (0.46) (0.02) (2.19) 0.73

Sortino 0.25 0.18 0.11 (0.00) (7.67) (2.51) (0.30) (0.72) (0.83) (0.85) (0.31) (0.14) (0.05) (1.49) (0.05) (7.67) 2.44

Treynor 0.00 0.00 0.00 (0.00) (0.00) 0.00 0.00 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) 0.00 (0.00) 0.00

Jensen's Alpha (0.03) (0.03) (0.02) (0.02) (0.04) 0.07 0.00 (0.03) (0.06) (0.04) (0.02) (0.01) (0.02) 0.07 (0.06) 0.04

Tracking Error 2.03% 1.94% 1.87% 1.82% 0.64% 2.35% 1.95% 2.12% 2.46% 3.49% 3.35% 3.17% 2.44% 3.49% 0.64% 0.93%

Information Ratio 0.02 (0.03) (0.08) (0.14) (2.76) (0.18) (0.30) (0.55) (0.73) (0.23) (0.14) (0.10) (0.63) (0.10) (2.76) 0.89

VAMI 1.13 1.14 1.14 1.14 1.00 0.99 1.03 1.03 1.01 0.97 1.03 1.07 1.09 1.02 1.09 0.97 0.04


Misc. Info

Last NAVs 111.0035 111.5889 111.9989 111.8516 100.7950 99.9692 103.5743 103.8001 101.4821 97.6910 104.1329 107.2096 109.4387 103.12 109.44 97.69 3.64

Payouts 11.1899

Net Assets 123.07 123.81 124.66 124.49 112.38 122.49 122.68 116.89 116.41 112.96 120.20 124.33 127.57 119.55 127.57 112.38 5.22

MoM + / (-) % in NA 3.21% 0.60% 0.69% -0.14% -9.72% 8.99% 0.16% -4.72% -0.41% -2.97% 6.42% 3.43% 2.60% 0.27% 8.99% -9.72% 5.75%

Total + / (-) YTD % in NA 9.01% 9.66% 10.42% 10.27% -9.72% -1.60% -1.45% -6.10% -6.49% -9.26% -3.44% -0.13% 2.47% -3.97% 2.47% -9.72% 4.19%





Active Return / Alpha 0.49% -1.10% -0.17% -2.03% -0.34% 0.63% 0.12% -1.24% -0.39% -0.97% 0.87% 0.17% 1.53% 0.04% 1.53% -1.24% 0.89%

Corelation 0.68 0.67 0.65 0.65 0.60 0.53 0.53 0.69 0.74 0.75 0.72 0.69 0.65 0.75 0.53 0.09

Beta 2.45 2.39 2.01 1.98 2.11 (4.53) (0.26) 2.22 3.40 3.17 1.52 1.28 1.11 3.40 (4.53) 2.55

R-Squared 0.55 0.54 0.52 0.51 1.00 0.60 0.40 0.50 0.57 0.61 0.61 0.56 0.61 1.00 0.40 0.17










Sharpe 0.22 0.17 0.15 0.09 (14.07) (0.31) (0.27) (0.50) (0.68) (0.33) (0.21) (0.09) (2.06) (0.09) (14.07) 4.86

Sortino 0.66 0.51 0.48 0.31 (4.45) (1.90) (0.92) (0.87) (1.07) (1.26) (0.84) (0.33) (0.12) (1.31) (0.12) (4.45) 1.29

Treynor 0.02 0.01 0.01 0.00 0.27 (0.02) (0.01) (0.02) (0.02) (0.01) (0.00) (0.00) 0.02 0.27 (0.02) 0.10

Jensen's Alpha (0.01) (0.01) (0.01) (0.01) (0.02) 0.01 (0.00) (0.01) (0.02) (0.01) (0.00) (0.00) (0.01) 0.01 (0.02) 0.01

Tracking Error 2.59% 2.53% 2.45% 2.43% 0.94% 1.61% 1.82% 1.72% 1.68% 1.82% 1.73% 1.78% 1.64% 1.82% 0.94% 0.29%

Information Ratio (0.12) (0.17) (0.17) (0.24) 0.38 0.17 (0.02) (0.04) (0.08) (0.03) (0.02) 0.06 0.05 0.38 (0.08) 0.15

VAMI 1.18 1.18 1.19 1.18 1.00 0.99 1.02 1.03 1.01 0.99 1.03 1.07 1.10 1.03 1.10 0.99 0.04


Misc. Info

Last NAVs 69.2617 69.6827 69.9820 69.0396 69.51 68.90 70.66 71.35 70.28 68.73 71.60 73.60 75.50 71.13 75.50 68.73 2.23

Payouts 0.2655 8.2951

Net Assets 297.15 296.87 294.95 290.08 237.29 234.30 239.81 240.13 237.88 227.72 234.97 241.44 249.25 238.09 249.25 227.72 5.87

MoM + / (-) % in NA 3.38% 0.00% -0.16% -1.24% -7.98% 0.17% 1.83% -0.25% 0.26% -4.96% 3.68% 3.00% 3.59% -0.15% 3.68% -7.98% 3.99%

Total + / (-) YTD % in NA 4.95% 5.14% 5.03% 3.52% -7.98% -7.91% -6.22% -6.53% -6.46% -10.97% -7.73% -5.00% -1.73% -6.73% -1.73% -10.97% 2.51%


Category NA 2,080.02 2,078.10 2,064.68 2,030.54 1,186.43 1,171.50 1,199.04 1,200.64 1,189.42 1,138.60 1,174.83 1,207.20 1,246.26 1,190.11 1,246.26 1,138.60 29.33

IND

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MoM RETURNS INDUSTRY AVERAGES

OPEN END MUTUAL FUNDS CATEGORIESFunds Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012 Mean Max Min Std. Dev.

Conventional

Money Market Funds 12.11% 12.43% 11.78% 12.19% 11.47% 12.02% 11.82% 13.34% 10.12% 9.56% 10.74% 10.78% 11.33% 11.39% 13.34% 9.56% 1.37%

Fixed Income Fund 20.98% 16.01% 10.50% 6.56% 10.20% 9.75% 10.17% 14.67% 9.70% 2.78% 10.16% 9.56% 12.72% 9.54% 14.67% 2.78% 3.82%

Agg. Fixed Income Fund 7.33% 18.91% -1.19% -11.23% 15.96% 17.44% -7.51% -25.52% 14.60% -13.39% 21.88% 26.34% 36.34% 0.26% 17.44% -25.52% 18.21%

Bond Mean 13.47% 15.79% 7.03% 2.51% 12.54% 13.07% 4.83% 0.83% 11.48% -0.35% 14.26% 15.56% 20.13% 7.06% 13.07% -0.35% 6.07%

Stock Funds 7.67% 0.79% -0.24% -1.41% -0.99% -4.72% 5.33% 0.60% -3.52% -4.65% 8.10% 7.17% 5.05% -1.33% 0.05 (0.05) 0.04

Asset Allocation Funds 4.45% 0.40% -1.15% -2.50% 1.92% -3.29% 2.69% -0.06% -1.27% -2.32% 4.56% 3.51% 3.01% -0.39% 0.03 (0.03) 0.02

Balanced Funds 5.30% 0.80% -0.93% -1.54% -0.51% -1.72% 3.25% 0.91% -2.66% -2.27% 5.23% 4.59% 3.34% -0.50% 0.03 (0.03) 0.02

Index Funds 6.30% 1.44% 0.55% 0.48% -1.28% -8.40% 6.40% 0.63% -2.97% -4.50% 8.34% 6.99% 4.77% -1.69% 0.06 (0.08) 0.05

Stock Mean 5.93% 0.86% -0.44% -1.24% -0.22% -4.53% 4.42% 0.52% -2.60% -3.43% 6.56% 5.57% 4.04% -0.97% 4.42% -4.53% 3.26%

Islamic

Islamic MM Funds 11.22% 11.39% 10.90% 11.16% 10.62% 10.41% 10.94% 10.62% 10.20% 9.88% 9.84% 9.89% 9.94% 10.45% 10.94% 9.88% 0.37%

Islamic Fix. Inc. Fund 12.39% 11.54% 13.18% 10.02% 12.18% 12.17% 8.89% 10.64% 5.95% 11.13% 12.14% 19.17% 10.14% 10.16% 12.18% 5.95% 2.40%

Islamic Agg. Fix. Inc. Fund 12.85% -2.55% 17.13% -16.61% 10.43% 12.48% -18.03% 5.93% 8.21% -6.00% 17.55% 12.28% 35.65% 2.17% 12.48% -18.03% 11.83%

Islamic Bond Mean 12.15% 6.79% 13.74% 1.53% 11.08% 11.69% 0.60% 9.06% 8.12% 5.00% 13.18% 13.78% 18.58% 7.59% 11.69% 0.60% 4.17%

Islamic St. Funds 8.54% 2.08% 1.20% -0.40% 1.60% -3.48% 6.22% 2.91% -4.74% -5.65% 9.81% 6.05% 6.77% -0.52% 6.22% -5.65% 4.79%

Islamic Ast. All. Funds 4.08% 0.22% 0.68% -1.01% 1.02% -0.62% 6.16% 1.57% -1.14% -2.27% 7.08% 5.48% 6.18% 0.79% 6.16% -2.27% 2.99%

Islamic Bal. Funds 4.08% 0.22% 0.68% -1.01% 0.92% -1.13% 1.38% 2.02% -2.28% -1.30% 4.41% 4.29% 5.03% -0.06% 2.02% -2.28% 1.73%

Islamic Stock Mean 5.57% 0.84% 0.85% -0.81% 1.18% -1.74% 4.59% 2.17% -2.72% -3.07% 7.10% 5.27% 6.00% 0.07% 4.59% -3.07% 3.07%

Category Means

Bond Funds Mean 12.81% 11.29% 10.39% 2.02% 11.81% 12.38% 2.71% 4.95% 9.80% 2.33% 13.72% 14.67% 19.35% 7.33% 12.38% 2.33% 4.55%

Stock Funds Mean 5.75% 0.85% 0.21% -1.03% 0.48% -3.14% 4.50% 1.34% -2.66% -3.25% 6.83% 5.42% 5.02% -0.45% 4.50% -3.25% 3.12%

FOR FY 2011-12

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-8%

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%

12%

Mar-2011 Apr-2011 May-2011 Jun-2011 Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012

ISLAMIC STOCK FUNDS

Islamic St. Funds

Islamic Ast. All. Funds

Islamic Bal. Funds

Islamic Stock Mean

-30%

-20%

-10%

0%

10%

20%

30%

40%

CONVENTIONAL BOND FUNDS

Money Market Funds

Fixed Income Fund

Agg. Fixed Income Fund

Bond Mean-10%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%


CONVENTIONAL STOCK FUNDS

Stock Funds


Balanced Funds

Index Funds

Stock Mean

-30%

-20%

-10%

0%

10%

20%

30%

40%

ISLAMIC BOND FUNDS

Islamic MM FundsIslamic Fix. Inc. FundIslamic Agg. Fix. Inc. FundIslamic Bond Mean


-30%

-20%

-10%

0%

10%

20%

30%

40%


ISLAMIC FUNDS Islamic MM Funds Islamic Fix. Inc. Fund

Islamic Agg. Fix. Inc. Fund Islamic St. Funds

Islamic Ast. All. Funds Islamic Bal. Funds

-30%

-20%

-10%

0%

10%

20%

30%

40%

BOND FUNDS

Money Market FundsFixed Income FundAgg. Fixed Income FundIslamic MM Funds -10%

-5%

0%

5%

10%

15%


STOCK FUNDS Stock Funds Asset Allocation Funds Balanced Funds

Index Funds Islamic St. Funds Islamic Ast. All. Funds

Islamic Bal. Funds Stock Funds Mean

-30%

-20%

-10%

0%

10%

20%

30%

40%

CONVENTIONAL FUNDS

Stock FundsMoney Market FundsBalanced FundsFixed Income FundAgg. Fixed Income Fund



CONVENTIONAL MONEY MARKET FUNDSMarch-2012Funds Face

Value

Ex-NAV Last NAV Payouts Total NAV Net Assets

(Mln)

SD DD Active

Return

Corelati

on

Beta R2 Ann.

Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return

RAR CV Sharpe Sortino Treynor Jensen's

Alpha

IR VAMI * Star

Ranking

Stability

Pakistan Cash Management Fund 50 50.0027 50.2719 3.9062 54.1781 2,367.13 0.10% 0.85% -0.19% (0.26) (0.24) 0.07 11.11% 10.20% 8.35% 0.86% 8.31% -0.12% 0.10 (1.04) (0.12) 0.00 (0.00) (0.58) 1.09 4 AAA(f)

UBL Liquidity Plus Fund 100 100.2433 100.5815 8.0400 108.6215 25,678.12 0.13% 0.84% 0.03% 0.53 1.95 0.28 11.12% 9.79% 8.36% 0.83% 8.27% -0.16% 0.14 (0.81) (0.13) (0.00) 0.00 0.81 1.09 3 AA+(f)

KASB Cash Fund 100 100.1087 104.7900 4.0000 108.7900 896.23 0.13% 0.78% 0.26% 0.27 1.09 0.07 11.54% 9.99% 8.67% 0.85% 8.42% -0.14% 0.14 (0.67) (0.11) (0.00) 0.00 2.32 1.09 3 AA+(f)

Askari Sovereign Cash Fund 100 100.3378 100.1599 8.7542 108.9141 10,856.95 0.14% 0.86% -0.02% 0.49 1.16 0.24 11.38% 9.87% 8.55% 0.84% 8.50% -0.15% 0.14 (0.59) (0.09) (0.00) 0.00 0.42 1.09 3 AA+(f)

MCB Cash Management Optimizer Fund 100 100.2502 100.0762 8.5750 108.6512 12,247.67 0.12% 0.84% 0.29% (0.20) (0.87) 0.04 11.15% 9.91% 8.38% 0.84% 8.30% -0.15% 0.13 (0.88) (0.12) 0.00 (0.01) 3.32 1.09 3 AA+(f)

BMA Empress Cash Fund 10 10.0535 10.1322 0.7500 10.8822 558.72 0.09% 0.84% 0.06% (0.73) (0.83) 0.54 10.97% 9.87% 8.24% 0.84% 8.12% -0.15% 0.10 (1.39) (0.15) 0.00 (0.00) 1.48 1.08 4 AA+(f)

Lakson Money Market Fund 100 100.0001 100.0825 8.1045 108.1870 5,845.36 0.12% 0.83% -0.04% 0.99 0.91 0.97 10.90% 9.91% 8.19% 0.84% 8.18% -0.15% 0.13 (0.95) (0.14) (0.00) (0.00) (2.76) 1.08 3 AA(f)

NAFA Government Securities Liquid Fund 10 10.0837 10.0745 0.7200 10.7945 15,938.24 0.30% 0.83% -0.03% 0.52 3.00 0.27 9.38% 9.87% 7.05% 0.84% 7.00% -0.15% 0.39 (0.81) (0.30) (0.00) 0.00 (0.45) 1.07 3 AAA(f)

Atlas Money Market Fund 500 501.9700 504.4500 39.0000 543.4500 4,259.71 0.11% 0.84% 0.08% 0.68 2.10 0.46 11.00% 10.07% 8.26% 0.85% 8.24% -0.13% 0.12 (0.95) (0.13) (0.00) 0.00 1.24 1.09 3 AA+(f)

Alfalah GHP Cash Fund 500 500.0400 4.1700 39.2900 43.4600 1,109.97 0.11% 0.81% 0.09% 0.50 1.12 0.25 10.59% 9.57% 7.96% 0.81% 7.95% -0.17% 0.13 (1.24) (0.17) (0.00) 0.00 1.56 1.08 3 AA+(f)

JS Cash Fund 100 100.8000 101.5200 8.0000 109.5200 1,534.71 0.13% 0.80% 0.14% 0.28 0.94 0.08 11.51% 10.54% 8.65% 0.89% 8.54% -0.09% 0.14 (0.58) (0.10) (0.00) 0.00 1.07 1.09 3 AA+(f)

IGI Money Market Fund 100 100.2284 100.9618 7.8800 108.8418 3,549.45 0.13% 0.79% 0.34% 0.17 0.28 0.03 11.44% 10.59% 8.59% 0.90% 8.57% -0.09% 0.14 (0.56) (0.09) (0.00) 0.00 2.53 1.09 3 AA+(f)

ABL Cash Fund 10 10.0188 10.0276 0.8300 10.8576 20,092.00 0.13% 0.84% 0.27% 0.55 2.11 0.30 11.14% 10.31% 8.37% 0.87% 8.30% -0.11% 0.14 (0.80) (0.12) (0.00) 0.01 2.57 1.09 3 A+(f)

HBL Money Market Fund 100 100.0004 103.0517 5.5000 108.5517 8,248.35 0.12% 0.86% 0.05% 0.82 1.18 0.68 11.38% 10.00% 8.55% 0.85% 8.39% -0.14% 0.13 (0.74) (0.11) (0.00) 0.00 0.85 1.09 3 AA+(f)

Faysal Money Market Fund 100 100.3300 103.0400 5.4000 108.4400 2,084.11 0.13% 0.81% 0.03% 0.40 1.06 0.16 10.76% 9.94% 8.08% 0.84% 7.96% -0.14% 0.14 (1.10) (0.17) (0.00) 0.00 0.48 1.08 3 AA+(f)

PICIC Cash Fund 100 100.1108 100.3169 8.1000 108.4169 2,318.28 0.14% 0.85% 0.03% 0.46 2.56 0.21 11.04% 9.78% 8.30% 0.83% 8.28% -0.16% 0.15 (0.75) (0.12) (0.00) 0.00 0.85 1.09 3 AA+(f)

First Habib Cash Fund 100 100.0300 102.7271 8.2500 110.9771 1,099.33 0.12% 0.83% -0.15% 0.60 1.02 0.36 10.97% 9.81% 8.24% 0.83% 8.10% -0.16% 0.13 (1.04) (0.15) (0.00) (0.00) (1.30) 1.08 3 AA+(f)

AKD Cash Fund 50 50.0000 50.5671 1.0035 51.5706 103.11 0.35% 0.38% 0.19% (0.86) (27.78) 0.74 12.24% 12.01% 2.01% 1.02% 2.00% 0.03% 0.52 (0.89) (0.81) 0.00 (0.04) (0.47) 1.02 1

NAFA Money Market Fund 10 10.0000 10.0193 0.0870 10.1063 1,113.00 0.51% 0.63% 0.31% (1.00) (1.39) 1.00 12.55% 10.51% 1.06% 0.89% 1.06% -0.10% 0.96 (0.89) (0.72) 0.00 (0.01) (0.26) 1.01 1

Minimum 103.11 0.09% 0.38% -0.19% (1.00) (27.78) 0.03 9.38% 9.57% 1.06% 0.81% 1.06% -0.17% 0.10 (1.39) (0.81) (0.00) (0.04) (2.76) 1.01 3

Maximum 25,678.12 0.51% 0.86% 0.34% 0.99 3.00 1.00 12.55% 12.01% 8.67% 1.02% 8.57% 0.03% 0.96 (0.56) (0.09) 0.00 0.01 3.32 1.09 4

Mean 6,310.55 0.16% 0.80% 0.09% 0.22 (0.56) 0.36 11.17% 10.13% 7.57% 0.86% 7.50% -0.13% 0.21 (0.88) (0.20) (0.00) (0.00) 0.72 1.08 3

Standard Deviation 7,392.76 0.11% 0.11% 0.15% 0.57 6.69 0.30 0.64% 0.53% 2.16% 0.05% 2.14% 0.05% 0.21 0.22 0.20 0.00 0.01 1.48 0.02 0

RISK MEASURES RATINGSMISC. INFO PERFORMANCE MEASURES

* Star Rankings are according to PACRA's methodology

8%

9%

10%

11%

12%

13%

14%

15%

Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012

MoM ANNUALIZED RETURNS

Pakistan Cash Management Fund UBL Liquidity Plus Fund KASB Cash Fund Askari Sovereign Cash Fund MCB Cash Management Optimizer Fund BMA Empress Cash Fund Lakson Money Market Fund

NAFA Government Securities Liquid Fund Atlas Money Market Fund Alfalah GHP Cash Fund JS Cash Fund IGI Money Market Fund ABL Cash Fund HBL Money Market Fund

Faysal Money Market Fund PICIC Cash Fund First Habib Cash Fund AKD Cash Fund NAFA Money Market Fund INDUSTRY AVERAGES



CONVENTIONAL INCOME FUNDMarch-2012Funds Face

Value


(Mln)

SD DD Active

Return

Corelation Beta R2 Ann.

Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

Dawood Income Fund 100 72.8655 79.4492 79.4492 454.12 0.34% 0.50% 0.08% 0.56 2.57 0.32 12.03% 12.72% 9.04% 1.08% 8.70% 0.09% 0.35 (0.17) (0.12) (0.00) (0.00) (0.25) 1.09 3 A-(f)

Pakistan Income Fund 50 51.9603 52.2300 3.2700 55.5000 1,422.00 0.18% 0.68% 0.23% 0.12 0.09 0.01 9.07% 10.50% 6.81% 0.89% 6.72% -0.10% 0.24 (1.55) (0.41) (0.03) (0.00) (0.43) 1.07 3 AA-(f)

Metrobank Pakistan Soveriegn Fund 50 49.6961 49.7300 4.3300 54.0600 5,977.94 0.34% 0.66% 0.16% 0.84 1.19 0.70 11.69% 9.67% 8.78% 0.82% 8.68% -0.17% 0.35 (0.18) (0.09) (0.00) 0.00 0.45 1.09 3 AA(f)

JS Income Fund 100 85.3800 86.1800 8.0000 94.1800 705.67 0.43% 0.65% -0.04% 0.15 0.87 0.02 13.72% 11.29% 10.31% 0.96% 10.14% -0.03% 0.38 0.24 0.16 0.00 0.00 0.23 1.11 3 A+(f)

Atlas Income Fund 500 500.4600 514.1200 514.1200 878.47 1.60% 1.44% -0.33% (0.41) (9.70) 0.17 3.63% 8.28% 2.73% 0.70% 2.80% -0.28% 5.15 (0.44) (0.49) 0.00 (0.00) (0.47) 1.03 2 A+(f)

NAFA Income Opportunity Fund 10 9.7139 9.5428 9.5428 1,705.80 2.09% 1.77% 1.70% 0.17 4.35 0.03 -2.34% 31.81% -1.76% 2.69% -1.60% 1.71% (11.79) (0.57) (0.68) (0.00) (0.01) (0.58) 0.98 1 A(f)

NAFA Income Fund 10 9.7109 8.9934 8.9934 415.53 3.37% 3.19% 0.25% 0.33 15.64 0.11 -9.83% 14.73% -7.39% 1.25% -7.17% 0.26% (4.23) (0.54) (0.57) (0.00) (0.02) (0.54) 0.93 1 A-(f)

NAFA Savings Plus Fund 10 10.0280 10.0389 0.7101 10.7490 1,282.96 0.29% 0.84% 0.16% 0.42 6.27 0.18 9.57% 10.08% 7.19% 0.85% 7.14% -0.13% 0.37 (0.79) (0.27) (0.00) 0.02 0.32 1.07 3 AA-(f)"

MCB Dynamic Cash Fund 100 101.3247 101.0784 8.4477 109.5261 6,445.00 0.13% 0.75% -0.12% 0.58 1.19 0.34 10.77% 10.17% 8.09% 0.86% 8.03% -0.12% 0.15 (0.99) (0.18) (0.00) (0.00) (1.21) 1.08 4 A+(f)

HBL Income Fund 100 98.5142 103.9235 4.5000 108.4235 1,725.04 0.48% 0.57% 0.31% (0.38) (2.29) 0.14 13.39% 15.35% 10.06% 1.30% 9.82% 0.31% 0.44 0.14 0.12 (0.00) 0.00 0.08 1.10 3 A(f)

IGI Income Fund 100 100.5578 101.1123 7.7159 108.8282 1,144.49 0.34% 0.46% -0.22% 0.35 1.59 0.13 10.95% 9.21% 8.22% 0.78% 8.13% -0.21% 0.38 (0.35) (0.26) (0.00) (0.00) (0.42) 1.08 3 A+(f)

Faysal Savings & Growth Fund 100 100.5900 103.3600 5.5000 108.8600 2,572.00 0.34% 0.72% -0.15% 0.27 1.24 0.07 10.94% 9.91% 8.22% 0.84% 8.05% -0.15% 0.38 (0.38) (0.18) (0.00) (0.00) (0.43) 1.08 3 A+(f)

First Habib Income Fund 100 100.0700 102.3290 7.6500 109.9790 1,119.65 0.14% 0.77% -0.26% 0.70 1.41 0.49 10.19% 8.79% 7.65% 0.74% 7.53% -0.24% 0.17 (1.33) (0.24) (0.00) (0.00) (1.98) 1.08 4 AA-(f)

NAMCO Income Fund 100 102.9837 108.4114 12.3000 120.7114 62.28 1.86% 0.65% 3.93% 0.23 6.39 0.05 22.91% 58.27% 17.21% 4.94% 16.57% 3.95% 1.01 0.44 1.25 0.00 0.01 0.43 1.18 3 A(f)

ABL Income Fund 10 10.0195 10.0222 0.8777 10.8999 4,993.06 0.32% 0.77% -0.17% 0.30 1.30 0.09 11.69% 9.78% 8.79% 0.83% 8.71% -0.16% 0.33 (0.18) (0.07) (0.00) (0.00) (0.25) 1.09 3 A+(f)

Crosby Phoenix Fund 100 101.6300 109.5400 109.5400 122.48 0.13% 0.84% -0.29% (0.51) (1.58) 0.26 10.36% 9.23% 7.78% 0.78% 7.53% -0.20% 0.15 (1.47) (0.22) 0.00 (0.00) (1.48) 1.08 4 A(f)

Lakson Income Fund 100 100.1626 100.3374 8.1521 108.4895 1,354.00 0.19% 0.83% -0.14% 0.68 0.87 0.46 11.06% 9.87% 8.31% 0.84% 8.30% -0.15% 0.21 (0.54) (0.12) (0.00) 0.00 0.26 1.09 4 AA-(f)

NIT Government Bond Fund 10 10.0968 10.8204 10.8204 2,526.02 0.51% 0.71% -1.28% 0.46 3.67 0.21 9.54% -5.01% 7.17% -0.42% 6.96% -1.41% 0.67 (0.49) (0.36) (0.00) 0.00 (0.25) 1.07 3 AA(f)

NIT Income Fund 10 10.1448 11.1151 11.1151 2,224.04 0.25% 0.64% -0.06% 0.35 1.21 0.12 12.73% 11.02% 9.56% 0.93% 9.18% -0.05% 0.25 (0.02) (0.01) (0.00) (0.00) (0.09) 1.10 4 AA-(f)

PICIC Income Fund 100 100.4693 100.9053 8.3000 109.2053 937.34 0.43% 0.53% -0.20% 0.24 1.39 0.06 11.57% 9.14% 8.70% 0.77% 8.60% -0.21% 0.45 (0.16) (0.13) (0.00) (0.00) (0.16) 1.09 3 A+(f)

UBL Savings Income Fund 100 100.1372 100.9282 8.5000 109.4282 5,255.65 0.40% 0.57% -0.17% 0.28 1.40 0.08 12.35% 9.65% 9.28% 0.82% 8.92% -0.17% 0.41 (0.08) (0.06) (0.00) (0.00) (0.11) 1.09 3 AA-(f)

UBL Government Securities Fund 100 100.0000 100.5065 7.7700 108.2765 5,215.06 0.50% 0.46% -0.07% 0.60 1.06 0.36 12.17% 9.66% 8.28% 0.82% 8.19% -0.17% 0.55 (0.23) (0.25) (0.00) 0.00 0.21 1.08 3

Pak Oman Government Securities Fund 10 10.0000 10.2414 0.7166 10.9580 232.81 0.89% 0.66% -0.06% 0.33 1.05 0.11 14.14% 9.08% 9.58% 0.77% 9.41% -0.22% 0.85 0.02 0.03 0.00 0.00 0.32 1.10 3 AA(f)

NAFA Financial Sector Income Fund 10 10.0000 10.3181 0.2000 10.5181 1,825.00 0.34% 0.54% 0.13% 0.99 0.77 0.98 10.14% 12.14% 5.18% 1.03% 5.10% 0.04% 0.40 (0.41) (0.26) (0.00) 0.00 1.76 1.05 3

ABL Government Securities Fund 10 10.0000 10.0300 0.3349 10.3649 19,641.61 0.42% 0.61% -0.02% 0.89 0.82 0.79 10.77% 10.17% 3.65% 0.86% 3.61% -0.12% 0.58 (0.61) (0.42) (0.00) (0.00) 0.06 1.04 0

Minimum 62.28 0.13% 0.46% -1.28% (0.51) (9.70) 0.01 -9.83% -5.01% -7.39% -0.42% -7.17% -1.41% (11.79) (1.55) (0.68) (0.03) (0.02) (1.98) 0.93 1

Maximum 19,641.61 3.37% 3.19% 3.93% 0.99 15.64 0.98 22.91% 58.27% 17.21% 4.94% 16.57% 3.95% 5.15 0.44 1.25 0.00 0.02 1.76 1.18 4

Mean 2,809.52 0.65% 0.83% 0.13% 0.34 1.71 0.25 10.13% 12.62% 7.26% 1.07% 7.12% 0.08% (0.07) (0.43) (0.15) (0.00) (0.00) (0.18) 1.07 3




-80%

-60%

-40%

-20%

0%

20%

40%

60%

80%

Jul-2011 Aug-2011 Sep-2011 Oct-2011 Nov-2011 Dec-2011 Jan-2012 Feb-2012 Mar-2012


Dawood Income Fund Pakistan Income Fund Metrobank Pakistan Soveriegn Fund JS Income Fund Atlas Income Fund NAFA Income Opportunity Fund

NAFA Income Fund NAFA Savings Plus Fund MCB Dynamic Cash Fund HBL Income Fund IGI Income Fund Faysal Savings & Growth Fund

First Habib Income Fund NAMCO Income Fund ABL Income Fund Crosby Phoenix Fund Lakson Income Fund NIT Government Bond Fund

NIT Income Fund PICIC Income Fund UBL Savings Income Fund UBL Government Securities Fund Pak Oman Government Securities Fund NAFA Financial Sector Income Fund

ABL Government Securities Fund INDUSTRY AVERAGES



CONVENTIONAL AGGRESSIVE INCOME FUNDSMarch-2012Funds Face

Value

Ex-NAV

FY-12

Last NAV Payouts Total NAV Net Assets

(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

JS Aggressive Income Fund 100 83.1100 99.7000 99.7000 72.40 1.63% 0.33% 0.95% (0.29) (6.29) 0.08 26.57% 22.81% 19.96% 1.93% 18.49% 0.95% 0.79 0.63 3.09 (0.00) 0.01 0.62 1.20 4 BBB-(f)

Pakistan Income Enhancement Fund 50 51.8591 52.0700 3.4000 55.4700 1,296.00 0.37% 0.43% 0.85% 0.02 0.01 0.00 9.27% 17.35% 6.96% 1.47% 12.78% 0.48% 0.26 1.08 0.93 0.30 0.00 0.92 1.14 5 AA-(f)

IGI Aggressive Income Fund 50 41.5056 44.0736 4.0993 48.1729 739.93 3.42% 0.60% 1.07% (0.30) (13.65) 0.09 21.38% 24.44% 16.06% 2.07% 26.00% 1.08% 1.18 0.55 3.09 (0.00) 0.02 0.54 1.29 3 BBB(f)

Faysal Income & Growth Fund 100 101.9500 106.9800 6.2000 113.1800 479.83 1.57% 0.53% 4.41% (0.42) (8.61) 0.17 14.66% 63.62% 11.02% 5.39% 16.97% 4.40% 0.83 0.55 1.62 (0.00) 0.01 0.54 1.18 3 A(f)

AKD Aggressive Income Fund 50 46.8272 51.0377 51.0377 443.02 0.42% 0.62% 0.72% (0.12) (0.80) 0.01 11.97% 20.63% 8.99% 1.75% 7.92% 0.76% 0.44 (0.15) (0.10) 0.00 (0.00) (0.23) 1.09 4 BBB(f)

Alfalah GHP Income Multiplier Fund 50 49.4753 45.1169 1.5900 46.7069 251.02 6.05% 5.19% 5.02% 0.08 6.28 0.01 -7.45% 71.38% -5.60% 6.05% -1.12% 5.06% (48.79) (0.19) (0.22) (0.00) (0.01) (0.20) 0.97 2 BBB+(f)

Askari High Yield Scheme 100 98.1495 102.5226 102.5226 1,499.26 0.93% 0.72% -0.34% 0.02 0.28 0.00 5.93% 7.70% 4.46% 0.65% 4.40% -0.33% 1.90 (0.58) (0.74) (0.02) (0.01) (0.60) 1.04 3

United Growth & Income Fund 100 87.4664 75.2837 75.2837 2,778.77 4.84% 4.76% 0.05% (0.08) (6.50) 0.01 -18.54% 12.36% -13.93% 1.05% -13.86% 0.06% (3.14) (0.53) (0.54) 0.00 (0.02) (0.54) 0.86 1 BBB-(f)

BMA Chundrigar Road Savings Fund 10 8.9324 7.5324 7.5324 305.48 13.46% 11.83% 3.92% 0.17 30.24 0.03 -20.86% 58.14% -15.67% 4.92% -7.78% 3.94% (15.58) (0.14) (0.16) (0.00) (0.03) (0.14) 0.84 1 BB+(f)

KASB Income Opportunity Fund 100 52.9665 57.4339 57.4339 427.25 2.08% 1.31% 3.17% (0.50) (14.07) 0.25 11.23% 49.23% 8.43% 4.17% 8.31% 3.18% 2.25 (0.05) (0.08) 0.00 0.00 (0.06) 1.08 3 BBB+(f)

Minimum 72.40 0.37% 0.33% -0.34% (0.50) (14.07) 0.00 -20.86% 7.70% -15.67% 0.65% -13.86% -0.33% (48.79) (0.58) (0.74) (0.02) (0.03) (0.60) 0.84 1

Maximum 2,778.77 13.46% 11.83% 5.02% 0.17 30.24 0.25 26.57% 71.38% 19.96% 6.05% 26.00% 5.06% 2.25 1.08 3.09 0.30 0.02 0.92 1.29 5

Mean 829.29 3.48% 2.63% 1.98% (0.14) (1.31) 0.07 5.42% 34.77% 4.07% 2.94% 7.21% 1.96% (5.99) 0.12 0.69 0.03 (0.00) 0.08 1.07 3

Standard Deviation 822.58 3.98% 3.71% 1.95% 0.22 12.81 0.09 16.02% 23.37% 12.04% 1.98% 12.27% 1.98% 15.94 0.55 1.44 0.10 0.01 0.53 0.14 1



-500%

-400%

-300%

-200%

-100%

0%

100%

200%



JS Aggressive Income Fund Pakistan Income Enhancement Fund IGI Aggressive Income Fund Faysal Income & Growth Fund AKD Aggressive Income Fund Alfalah GHP Income Multiplier Fund

Askari High Yield Scheme United Growth & Income Fund BMA Chundrigar Road Savings Fund KASB Income Opportunity Fund INDUSTRY AVERAGES



CONVENTIONAL STOCK FUNDSMarch-2012Funds Face

Value


(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

National Investment (Unit) Trust 10 28.1400 28.5100 28.5100 40,225.11 4.82% 3.05% -6.86% 0.83 0.61 0.69 1.75% 0.00% 1.31% 0.00% 2.23% -1.09% 19.40 (0.17) (0.27) (0.01) (0.01) (0.30) 1.01 1

Pakistan Stock Market Fund 50 53.7964 58.3900 58.3900 974.00 4.83% 2.41% -0.89% 0.88 0.66 0.78 11.36% 70.50% 8.54% 5.97% 9.15% 4.88% 4.75 (0.01) (0.03) (0.00) (0.00) (0.08) 1.09 2

Pakistan Strategic Allocation Fund 100 8.2865 9.3100 9.3100 452.00 4.59% 2.12% -1.67% 0.88 0.62 0.77 16.44% 61.37% 12.35% 5.20% 12.55% 4.11% 3.29 0.07 0.15 0.01 0.00 0.06 1.12 3

Pakistan Premier Fund 100 9.4300 10.4500 10.4500 484.72 4.85% 2.33% -0.56% 0.84 0.63 0.71 14.40% 74.47% 10.82% 6.31% 11.26% 5.22% 3.88 0.04 0.07 0.00 0.00 0.01 1.11 3

Atlas Stock Market Fund 500 334.2600 397.0900 397.0900 679.46 6.51% 2.99% -0.76% 0.83 0.83 0.69 25.02% 72.02% 18.80% 6.10% 19.05% 5.01% 3.08 0.16 0.35 0.01 0.01 0.24 1.19 4

AKD Opportunity Fund 50 31.0000 38.3747 38.3747 522.17 8.08% 2.95% 9.10% 0.91 1.12 0.82 31.66% 188.46% 23.79% 15.96% 24.07% 14.87% 3.02 0.20 0.54 0.01 0.01 0.39 1.24 4

United Stock Advantage Fund 100 34.6200 39.9800 39.9800 1,550.76 5.68% 2.81% -0.49% 0.88 0.79 0.77 20.61% 63.81% 15.48% 5.40% 15.78% 4.31% 3.24 0.12 0.24 0.01 0.01 0.18 1.15 4

NAFA Stock Fund 10 6.5095 7.8467 7.8467 1,101.17 5.94% 2.48% 8.20% 0.87 0.75 0.76 27.34% 117.38% 20.54% 9.94% 20.26% 8.85% 2.64 8.20% 0.47 0.02 0.01 0.52 1.21 4

MCB Dynamic Stock Fund 100 82.7059 95.4627 95.4627 622.08 5.02% 2.29% 4.99% 0.92 0.66 0.84 20.53% 79.47% 15.42% 6.73% 15.45% 5.64% 2.92 0.13 0.28 0.01 0.01 0.41 1.15 4

KASB Stock Market Fund 50 26.3700 27.6400 27.6400 126.30 4.60% 2.47% 0.44% 0.96 0.64 0.92 6.41% 25.75% 4.82% 2.18% 5.55% 1.09% 7.45 (0.10) (0.19) (0.01) (0.00) (0.02) 1.05 2

Crosby Dragon Fund 100 80.4600 88.7300 88.7300 159.29 4.17% 1.94% -4.78% 0.76 0.49 0.58 13.68% 24.59% 10.28% 2.08% 10.52% 0.99% 3.57 0.02 0.05 0.00 0.00 (0.02) 1.10 3

HBL Stock Fund 100 93.7508 105.3680 105.3680 2,210.12 5.04% 2.43% -2.18% 0.84 0.65 0.70 16.49% 55.35% 12.39% 4.69% 12.76% 3.60% 3.55 0.07 0.14 0.01 0.00 0.06 1.12 3

IGI Stock Fund 100 107.1375 121.7374 121.7374 270.00 5.94% 3.34% -2.79% 0.91 0.83 0.83 18.14% 48.09% 13.63% 4.07% 14.28% 2.98% 3.74 0.09 0.15 0.01 0.00 0.14 1.14 3

Alfalah GHP Alpha Fund 50 55.2100 60.1500 60.1500 123.23 5.26% 2.90% -3.12% 0.85 0.69 0.72 11.91% 44.19% 8.95% 3.74% 9.71% 2.65% 4.87 (0.00) (0.00) (0.00) (0.00) (0.05) 1.09 2

ABL Stock Fund 10 10.0408 12.4390 12.4390 198.38 5.99% 2.59% 5.00% 0.94 0.81 0.89 31.79% 79.69% 23.88% 6.75% 23.08% 5.66% 2.34 0.25 0.57 0.02 0.02 0.93 1.24 5

First Habib Stock Fund 100 100.1100 103.2379 103.2379 114.51 4.85% 2.86% -3.43% 0.92 0.68 0.84 4.16% 40.56% 3.12% 3.44% 4.02% 2.34% 10.87 (0.13) (0.22) (0.01) (0.01) (0.33) 1.03 1

Lakson Equity Fund 100 102.1999 112.5609 112.5609 149.69 5.59% 2.90% -2.67% 0.87 0.75 0.76 13.49% 49.51% 10.14% 4.19% 10.94% 3.10% 4.60 0.02 0.05 0.00 0.00 (0.00) 1.10 3

JS Large Cap Fund 100 52.5600 58.8700 58.8700 1,287.81 6.20% 2.91% 3.19% 0.94 0.84 0.89 15.98% 58.30% 12.01% 4.94% 12.92% 3.85% 4.32 0.06 0.12 0.00 0.01 0.37 1.12 3

PICIC Stock Fund 100 100.0000 112.0995 112.0995 115.01 4.57% 2.02% -3.65% 0.78 69.42% 0.61 23.62% 37.87% 12.10% 3.22% 12.13% 2.12% 2.64 0.15 0.33 0.01 (0.01) (0.51) 1.12 4

Askari Equity Fund 100 100.0000 100.0242 100.0242 100.02 0.02% -0.42% 4.43% 4.43% 0.02% 0.02% 0.02% -0.05% (44.13) 1.00

Minimum 100.02 4.17% 0.02% -6.86% 0.76 0.49 0.58 1.75% 0.00% 0.02% 0.00% 0.02% -1.09% 2.34 (0.17) (44.13) (0.01) (0.01) (0.51) 1.00 1

Maximum 40,225.11 8.08% 3.34% 9.10% 0.96 1.12 0.92 31.79% 188.46% 23.88% 15.96% 24.07% 14.87% 19.40 0.25 0.57 0.02 0.02 0.93 1.24 5

Mean 2,573.29 5.40% 2.49% -0.17% 0.87 0.72 0.77 16.46% 59.79% 11.92% 5.05% 12.29% 4.01% 4.96 0.05 (2.07) 0.00 0.00 0.10 1.12 3


RISK MEASURES RATINGSMISC. INFO


-15%

-10%

-5%

0%

5%

10%

15%

20%


MoM ABSOLUTE RETURNS

National Investment (Unit) Trust Pakistan Stock Market Fund Pakistan Strategic Allocation Fund Pakistan Premier Fund Atlas Stock Market Fund AKD Opportunity Fund United Stock Advantage Fund

NAFA Stock Fund MCB Dynamic Stock Fund KASB Stock Market Fund Crosby Dragon Fund HBL Stock Fund IGI Stock Fund Alfalah GHP Alpha Fund

ABL Stock Fund First Habib Stock Fund Lakson Equity Fund JS Large Cap Fund PICIC Stock Fund INDUSTRY AVERAGES



CONVENTIONAL BALANCED FUNDSMarch-2012Funds Face

Value

Ex-NAV Last NAV Payouts Total

NAV

Net Assets

(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

Unit Trust of Pakistan 100 98.6500 114.6600 ####### 1,617.92 3.68% 1.23% 3.47% 0.91 0.96 0.82 21.60% 57.56% 16.23% 4.88% 15.69% 3.81% 2.11 0.19 0.56 0.01 0.01 0.57 1.16 4

Faysal Balanced Growth Fund 100 62.7200 64.4800 64.4800 229.96 2.74% 1.89% -2.80% 0.87 0.93 0.76 3.73% 10.72% 2.81% 0.91% 3.07% -0.12% 8.02 (0.26) (0.37) (0.01) (0.01) (0.61) 1.03 1

NAFA Multi-Asset Fund 10 9.2769 10.6003 10.6003 624.91 2.74% 1.01% 2.50% 0.83 0.66 0.69 18.99% 45.57% 14.27% 3.86% 13.73% 2.82% 1.80 0.17 0.47 0.01 0.01 0.41 1.14 4

HBL Multi-Asset Fund 100 84.1610 93.8573 93.8573 370.91 3.63% 1.72% 0.14% 0.78 0.82 0.61 15.33% 48.11% 11.52% 4.07% 11.49% 3.04% 2.84 0.06 0.13 0.00 0.01 0.32 1.12 3

Pakistan Capital Market Fund 10 7.4634 7.9500 7.9500 360.26 3.51% 1.75% -1.22% 0.81 0.79 0.66 8.68% 35.17% 6.52% 2.98% 6.82% 1.94% 4.62 (0.08) (0.17) (0.00) (0.00) (0.14) 1.07 2

Minimum 229.96 2.74% 1.01% -2.80% 0.78 0.66 0.61 3.73% 10.72% 2.81% 0.91% 3.07% -0.12% 1.80 (0.26) (0.37) (0.01) (0.01) (0.61) 1.03 1

Maximum 1,617.92 3.68% 1.89% 3.47% 0.91 0.96 0.82 21.60% 57.56% 16.23% 4.88% 15.69% 3.81% 8.02 0.19 0.56 0.01 0.01 0.57 1.16 4

Mean 640.79 3.26% 1.52% 0.42% 0.84 0.83 0.71 13.67% 39.43% 10.27% 3.34% 10.16% 2.30% 3.88 0.02 0.12 0.00 0.00 0.11 1.10 3


MISC. INFO RISK MEASURES RATINGS


-6%

-4%

-2%

0%

2%

4%

6%

8%

10%



Unit Trust of Pakistan Faysal Balanced Growth Fund NAFA Multi-Asset Fund HBL Multi-Asset Fund Pakistan Capital Market Fund INDUSTRY AVERAGES



CONVENTIONAL ASSET ALLOCATION FUNDSMarch-2012Funds Face

Value


(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

KASB Asset Allocation Fund 50 38.0700 38.4000 38.4000 359.56 3.91% 2.29% 1.23% 0.90 1.01 0.81 1.15% 28.98% 0.87% 2.45% 1.47% 1.42% 23.98 (0.23) (0.39) (0.01) (0.01) (0.31) 1.01 2

JS Aggressive Asset Allocation Fund 50 22.5200 24.9700 24.9700 125.48 5.42% 2.67% 5.54% 0.90 0.70 0.80 14.48% 81.91% 10.88% 6.94% 11.54% 5.88% 4.23 0.04 0.08 0.00 0.01 0.24 1.11 3

Alfalah GHP Value Fund 50 50.6200 54.3900 54.3900 456.72 3.91% 2.07% -0.58% 0.55 0.85 0.30 9.91% 39.48% 7.45% 3.34% 7.82% 2.31% 4.50 (0.05) (0.09) (0.00) (0.01) (0.36) 1.07 3

Askari Asset Allocation Fund 50 41.0517 45.1411 45.1411 202.20 5.29% 2.53% 2.03% (0.10) (6.06) 0.01 13.26% 39.99% 9.96% 3.39% 10.64% 2.30% 4.47 0.02 0.04 (0.00) 0.02 (0.04) 1.10 3

MCB Dynamic Allocation Fund 100 57.3356 75.2249 75.2249 114.56 7.23% 1.50% 2.48% 0.33 0.34 0.11 41.53% 49.89% 31.20% 4.23% 29.47% 3.13% 2.21 0.30 1.46 0.06 0.02 0.33 1.31 5

PakOman Asset Allocation Fund 50 50.7000 50.6700 50.6700 141.38 3.64% 2.32% 1.00% 0.88 0.99 0.77 -0.08% 58.19% -0.06% 4.93% 0.47% 3.89% 69.70 (0.27) (0.43) (0.01) (0.01) (0.62) 1.00 2

Faysal Asset Allocation Fund 100 65.9600 69.2700 69.2700 313.30 2.18% 0.94% -1.17% 0.89 0.86 0.79 6.68% 39.64% 5.02% 3.36% 5.10% 2.33% 3.84 (0.22) (0.51) (0.01) (0.01) (0.57) 1.05 3

NAFA Asset Allocation Fund 10 10.2704 11.7999 11.7999 437.69 2.11% 0.54% 2.34% 0.85 0.79 0.73 19.82% 40.79% 14.89% 3.46% 14.16% 2.43% 1.34 0.25 0.98 0.01 0.01 0.73 1.15 4

Lakson Developed Markets Fund 100 100.0000 104.0251 104.0251 321.51 0.16% 0.68% -0.50% 0.49 6.25% 0.24 8.47% 4.84% 4.03% 0.41% 3.96% -0.61% 0.25 (2.14) - (0.06) (0.00) (0.46) 1.04 5

Lakson Emerging Markets Fund 100 100.0000 103.9417 103.9417 320.89 0.18% 0.67% 0.79% 0.58 3.36% 0.34 8.29% 4.09% 3.94% 0.35% 3.88% -0.67% 0.28 (2.00) (0.54) (0.11) (0.00) 0.03 1.04 5

Lakson Global Commodities Fund 100 100.0000 103.8929 103.8929 366.87 0.20% 0.67% 0.61% 0.62 10.07% 0.38 8.19% 3.29% 3.89% 0.28% 3.83% -0.74% 0.32 (1.81) (0.55) (0.04) (0.00) (0.53) 1.04 5

Minimum 114.56 2.11% 0.54% -1.17% (0.10) (6.06) 0.01 -0.08% 28.98% -0.06% 2.45% 0.47% 1.42% 1.34 (0.27) (0.51) (0.01) (0.01) (0.62) 1.00 2

Maximum 456.72 7.23% 2.67% 5.54% 0.90 1.01 0.81 41.53% 81.91% 31.20% 6.94% 29.47% 5.88% 69.70 0.30 1.46 0.06 0.02 0.73 1.31 5

Mean 268.86 4.21% 1.86% 1.61% 0.65 (0.07) 0.54 13.34% 47.36% 10.03% 4.01% 10.08% 2.96% 14.28 (0.02) 0.14 0.01 0.00 (0.07) 1.10 3




-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%



KASB Asset Allocation Fund JS Aggressive Asset Allocation Fund Alfalah GHP Value Fund Askari Asset Allocation Fund MCB Dynamic Allocation Fund PakOman Asset Allocation Fund

Faysal Asset Allocation Fund NAFA Asset Allocation Fund Lakson Developed Markets Fund Lakson Emerging Markets Fund Lakson Global Commodities Fund INDUSTRY AVERAGES



CONVENTIONAL INDEX TRACKER FUNDSMarch-2012

Funds Face

Value


NAV

Net

Assets

(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

AKD Index Tracker Fund 10 8.6200 9.3089 9.3089 193.23 5.64% 3.41% -0.51% 1.00 0.87 1.00 10.64% 75.01% 7.99% 6.35% 9.00% 5.26% 5.64 (0.01) (0.02) (0.00) (0.00) (1.23) 1.08 2

JS KSE-30 Fund 100 30.3300 33.3500 33.3500 88.03 6.02% 3.45% 2.73% 0.99 0.86 0.98 13.25% 52.89% 9.96% 4.48% 10.99% 3.39% 4.93 0.02 0.04 0.00 0.00 57.29% 1.10 4

AH Dow Jones Safe Pakistan Titans 15 Index Fund 50 55.8300 60.6700 60.6700 118.63 6.38% 3.47% -0.22% 1.00 0.82 1.00 11.54% 41.08% 8.67% 3.48% 9.96% 2.39% 5.77 0.00 0.01 0.00 (0.00) (0.23) 1.09 2

Minimum 88.03 5.64% 3.41% -0.51% 0.99 0.82 0.98 10.64% 41.08% 7.99% 3.48% 9.00% 2.39% 4.93 (0.01) (0.02) (0.00) (0.00) (1.23) 1.08 2

Maximum 193.23 6.38% 3.47% 2.73% 1.00 0.87 1.00 13.25% 75.01% 9.96% 6.35% 10.99% 5.26% 5.77 0.02 0.04 0.00 0.00 0.57 1.10 4

Mean 133.30 6.01% 3.44% 0.67% 1.00 0.85 0.99 11.81% 56.33% 8.87% 4.77% 9.98% 3.68% 5.44 0.00 0.01 0.00 0.00 (0.29) 1.09 3




-15%

-10%

-5%

0%

5%

10%

15%



AKD Index Tracker Fund JS KSE-30 Fund AH Dow Jones Safe Pakistan Titans 15 Index Fund INDUSTRY AVERAGES



ISLAMIC MONEY MARKET FUNDSMarch-2012Funds Face

Value


(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

Meezan Cash Fund 50 50.0300 50.1700 5.2550 55.4250 7,742.00 0.04% 0.90% 0.19% 0.91 2.51 0.82 10.75% 10.12% 8.08% 0.86% 8.05% -0.13% 0.05 (3.14) (0.14) (0.00) 0.01 7.17 1.08 4 AA(f)

HBL Islamic Money Market Fund 100 100.0012 102.9871 1.4600 104.4471 437.67 0.05% 0.82% -5.81% 0.08 0.00 0.01 9.96% 9.76% 7.49% 0.83% 7.37% -0.16% 0.06 (4.55) (0.25) (1.30) (0.00) (0.25) 1.08 2

Minimum 437.67 0.04% 0.82% -5.81% 0.08 0.00 0.01 9.96% 9.76% 7.49% 0.83% 7.37% -0.16% 0.05 (4.55) (0.25) (1.30) (0.00) (0.25) 1.08 2

Maximum 7,742.00 0.05% 0.90% 0.19% 0.91 2.51 0.82 10.75% 10.12% 8.08% 0.86% 8.05% -0.13% 0.06 (3.14) (0.14) (0.00) 0.01 7.17 1.08 4

Mean 4,089.83 0.04% 0.86% -2.81% 0.49 1.26 0.41 10.36% 9.94% 7.78% 0.84% 7.71% -0.14% 0.05 (3.84) (0.20) (0.65) 0.00 3.46 1.08 3




8%

9%

9%

10%

10%

11%

11%

12%

12%



Meezan Cash Fund HBL Islamic Money Market Fund INDUSTRY AVERAGES



ISLAMIC INCOME FUNDSMarch-2012Funds Face

Value


(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

Meezan Islamic Income Fund 50 50.0600 50.8000 5.2965 56.0965 1,226.79 2.32% 1.15% 1.33% 0.02 17.22 0.00 16.05% 21.63% 12.06% 1.83% 11.90% 0.85% 1.76 0.13 0.26 0.00 0.09 0.35 1.12 4 A(f)

Meezan Sovereign Fund 50 50.0100 50.3400 5.2000 55.5400 18,872.54 0.82% 0.82% 0.19% (0.35) (19.28) 0.12 14.72% 10.15% 11.06% 0.86% 10.91% -0.13% 0.67 0.23 0.23 (0.00) (0.06) 0.65 1.11 3 AA+(f)

Atlas Islamic Income Fund 500 500.4500 514.5900 35.5000 550.0900 447.31 0.28% 0.77% 0.10% 0.41 15.29 0.17 10.14% 8.74% 7.62% 0.74% 7.49% -0.25% 0.34 (0.69) (0.25) (0.00) 0.06 0.67 1.08 2 AA-(f)

PakOman Advantage Islamic Income Fund 50 50.2959 52.3699 2.3240 54.6939 320.43 0.34% 0.71% 0.09% 0.67 9.04 0.45 11.64% 8.01% 8.74% 0.68% 8.52% -0.31% 0.36 (0.23) (0.11) (0.00) 0.04 1.04 1.09 3 A+(f)

Askari Islamic Income Fund 100 100.2029 100.3068 6.3404 106.6472 746.62 0.74% 0.83% 0.17% (0.23) (7.01) 0.05 8.56% 9.33% 6.43% 0.79% 6.38% -0.20% 1.04 (0.43) (0.38) 0.00 (0.03) 0.09 1.07 2 AA-(f)

IGI Islamic Income Fund 100 100.2310 100.7293 6.9116 107.6409 325.00 0.31% 0.70% -0.22% 0.30 4.73 0.09 9.84% 5.58% 7.39% 0.47% 7.31% -0.51% 0.38 (0.68) (0.30) (0.00) 0.01 0.34 1.08 2 A+(f)

Faysal Islamic Savings Growth Fund 100 100.4100 102.2000 6.7500 108.9500 578.56 0.36% 0.70% 0.06% 0.76 12.75 0.58 11.32% 9.08% 8.51% 0.77% 8.32% -0.22% 0.39 (0.28) (0.14) (0.00) 0.04 0.57 1.09 3 A+(f)

ABL Islamic Income Fund 10 10.0163 10.0276 0.8040 10.8316 797.24 0.07% 0.83% 0.30% 0.33 0.36 0.11 10.83% 10.02% 8.14% 0.85% 8.06% -0.14% 0.08 (1.89) (0.16) (0.00) 0.00 3.46 1.08 4 AA(f)

NAFA Riba Free Savings Fund 10 10.0779 10.1454 0.6771 10.8225 802.19 0.30% 0.79% 0.19% 0.02 0.22 0.00 9.83% 9.86% 7.39% 0.84% 7.32% -0.15% 0.36 (0.71) (0.27) (0.01) (0.00) 0.41 1.08 4 AA-(f)

UBL Islamic Savings Fund 100 100.1635 100.4709 8.2000 108.6709 3,865.42 0.06% 0.86% 0.23% 0.35 2.24 0.12 11.30% 10.17% 8.49% 0.86% 8.29% -0.12% 0.07 (1.60) (0.12) (0.00) 0.01 4.37 1.09 2 AA-(f)

MCB Islamic Income Fund 100 100.2532 100.2806 9.0087 109.2893 1,060.86 0.39% 0.73% 0.16% 0.35 1.00 0.12 12.00% 8.83% 9.01% 0.75% 8.85% -0.24% 0.40 (0.10) (0.06) (0.00) 0.01 1.41 1.09 4

Minimum 320.43 0.06% 0.70% -0.22% (0.35) (19.28) 0.00 8.56% 5.58% 6.43% 0.47% 6.38% -0.51% 0.07 (1.89) (0.38) (0.01) (0.06) 0.09 1.07 2

Maximum 18,872.54 2.32% 1.15% 1.33% 0.76 17.22 0.58 16.05% 21.63% 12.06% 1.83% 11.90% 0.85% 1.76 0.23 0.26 0.00 0.09 4.37 1.12 4

Mean 2,640.27 0.54% 0.81% 0.24% 0.24 3.32 0.17 11.48% 10.13% 8.62% 0.86% 8.49% -0.13% 0.53 (0.57) (0.12) (0.00) 0.01 1.21 1.09 3




-60%

-40%

-20%

0%

20%

40%

60%

80%



Meezan Islamic Income Fund Meezan Sovereign Fund Atlas Islamic Income Fund PakOman Advantage Islamic Income Fund Askari Islamic Income Fund IGI Islamic Income Fund

Faysal Islamic Savings Growth Fund ABL Islamic Income Fund NAFA Riba Free Savings Fund UBL Islamic Savings Fund MCB Islamic Income Fund INDUSTRY AVERAGES



ISLAMIC AGGRESSIVE INCOME FUNDSMarch-2012Funds Face

Value


(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

United Islamic Income Fund 100 88.2074 86.4338 86.4338 304.32 2.97% 2.56% 1.56% (0.40) (155.15) 0.16 -2.68% 27.27% -2.01% 2.31% -1.67% 1.32% (16.02) (0.41) (0.47) 0.00 (0.43) (0.32) 0.98 2 BBB-(f)

NAFA Islamic Aggressive Income Fund 10 7.2189 8.3737 8.3737 176.60 2.21% 0.51% 5.54% (0.61) (44.05) 0.37 21.29% 72.41% 16.00% 6.13% 15.15% 5.15% 1.31 0.30 1.30 (0.00) (0.16) 0.47 1.16 3 BBB(f)

KASB Islamic Income Opportunity Fund 100 96.2502 99.4900 3.0000 102.4900 221.44 0.27% 0.62% -0.38% 0.40 1.46 0.16 8.63% 7.27% 6.48% 0.62% 6.34% -0.37% 0.38 (1.19) (0.52) (0.00) (0.00) (1.34) 1.07 4 BBB(f)

Minimum 176.60 0.27% 0.51% -0.38% (0.61) (155.15) 0.16 -2.68% 7.27% -2.01% 0.62% -1.67% -0.37% (16.02) (1.19) (0.52) (0.00) (0.43) (1.34) 0.98 2

Maximum 304.32 2.97% 2.56% 5.54% 0.40 1.46 0.37 21.29% 72.41% 16.00% 6.13% 15.15% 5.15% 1.31 0.30 1.30 0.00 (0.00) 0.47 1.16 4

Mean 234.12 1.82% 1.23% 2.24% (0.20) (65.91) 0.23 9.08% 35.65% 6.82% 3.02% 6.61% 2.03% (4.78) (0.43) 0.10 (0.00) (0.20) (0.40) 1.07 3




-100%

-80%

-60%

-40%

-20%

0%

20%

40%

60%

80%



United Islamic Income Fund NAFA Islamic Aggressive Income Fund KASB Islamic Income Opportunity Fund INDUSTRY AVERAGES



ISLAMIC STOCK FUNDSMarch-2012Funds Face

Value


(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

Meezan Islamic Fund 50 41.57 48.6800 48.6800 5,273.52 5.20% 2.44% 1.91% 0.97 0.88 0.94 22.76% 58.01% 17.10% 4.91% 16.99% 4.91% 2.75 0.16 0.33 0.01 0.00 0.35 1.17 2

AlMeezan Mutual Fund 10 12.41 12.3800 1.7500 14.1300 1,641.64 4.97% 2.40% 1.92% 0.98 0.85 0.95 18.45% 58.03% 13.86% 4.92% 16.62% 4.92% 2.69 0.15 0.32 0.01 0.00 0.37 1.17 2

JS Islamic Fund 100 39.7100 49.1700 49.1700 273.64 7.40% 3.49% 9.78% 0.87 1.13 0.77 31.71% 150.83% 23.82% 12.78% 23.77% 12.78% 2.80 0.21 0.45 0.01 0.01 0.31 1.24 3

Atlas Islamic Stock Fund 500 304.09 373.7800 373.7800 514.33 5.61% 2.56% 3.37% 0.96 0.94 0.93 30.50% 75.23% 22.92% 6.37% 22.11% 6.37% 2.29 0.25 0.54 0.01 0.01 0.67 1.23 4

HBL Islamic Stock Fund 100 100.9507 118.5384 118.5384 341.73 4.70% 2.35% 0.03% 0.97 0.80 0.95 23.19% 35.82% 17.42% 3.03% 17.08% 3.03% 2.48 0.17 0.35 0.01 0.01 0.39 1.17 3

Minimum 273.64 4.70% 2.35% 0.03% 0.87 0.80 0.77 18.45% 35.82% 13.86% 3.03% 16.62% 3.03% 2.29 0.15 0.32 0.01 0.00 0.31 1.17 2

Maximum 5,273.52 7.40% 3.49% 9.78% 0.98 1.13 0.95 31.71% 150.83% 23.82% 12.78% 23.77% 12.78% 2.80 0.25 0.54 0.01 0.01 0.67 1.24 4

Mean 1,608.97 5.58% 2.65% 3.40% 0.95 0.92 0.91 25.32% 75.58% 19.03% 6.40% 19.32% 6.40% 2.60 0.19 0.40 0.01 0.01 0.42 1.20 3




-10%

-5%

0%

5%

10%

15%



Meezan Islamic Fund AlMeezan Mutual Fund JS Islamic Fund Atlas Islamic Stock Fund HBL Islamic Stock Fund INDUSTRY AVERAGES



ISLAMIC BALANCED FUNDSMarch-2012Funds Face

Value


NAV

Net

Assets

(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

Nafa Islamic Multi Asset Fund 10 9.1039 10.2050 10.2050 267.64 2.54% 0.76% 3.83% 0.67 0.59 0.45 16.10% 66.57% 12.09% 5.64% 11.74% 4.60% 1.94 0.10 0.33 0.00 0.00 0.13 1.12 2

United Composite Islamic Fund 100 70.0800 80.9900 80.9900 519.35 3.10% 1.19% 2.46% 0.94 1.01 0.88 20.72% 52.21% 15.57% 4.42% 14.96% 3.38% 1.86 0.20 0.51 0.01 0.00 0.44 1.16 4

Minimum 267.64 2.54% 0.76% 2.46% 0.67 0.45 0.45 16.10% 52.21% 12.09% 4.42% 11.74% 3.38% 1.86 0.10 0.33 0.00 0.00 0.13 1.12 2

Maximum 519.35 3.10% 1.19% 3.83% 0.94 0.88 0.88 20.72% 66.57% 15.57% 5.64% 14.96% 4.60% 1.94 0.20 0.51 0.01 0.00 0.44 1.16 4

Mean 393.50 2.82% 0.97% 3.15% 0.80 0.66 0.66 18.41% 59.39% 13.83% 5.03% 13.35% 3.99% 1.90 0.15 0.42 0.01 0.00 0.28 1.14 3




-4%

-2%

0%

2%

4%

6%

8%



Nafa Islamic Multi Asset Fund United Composite Islamic Fund INDUSTRY AVERAGES



ISLAMIC ASSET ALLOCATION FUNDSMarch-2012Funds Face

Value

Ex-NAV Last NAV Payouts Total NAV Net

Assets

(Mln)

SD DD Active

Return


Return

(YTD)

Ann.

Return

(MoM)

Abs.

Return

(YTD)

Abs.

Return

(MoM)

Sum

Abs.

Return


Alpha

IR VAMI PACRA

Star

Ranking

Stability

Dawood Islamic Fund 100 101.7587 108.1787 108.1787 347.26 0.58% 0.36% 0.35% 0.70 0.28 0.49 8.40% 16.68% 6.31% 1.41% 6.15% 0.40% 0.85 (0.61) (0.97) (0.01) (0.00) 0.01 1.06 3

Alfalah GHP Islamic Fund 50 53.2300 58.8200 58.8200 339.97 2.70% 1.30% -0.18% 0.98 0.92 0.95 13.98% 19.17% 10.50% 1.62% 10.33% 0.61% 2.35 0.04 0.08 0.00 0.00 0.19 1.11 3

Pakistan Int'l Element Islamic Asset Allocation Fund 50 38.1272 43.2823 43.2823 312.00 4.80% 2.16% 4.62% 0.84 0.80 0.71 17.99% 79.30% 13.52% 6.72% 13.68% 5.62% 3.16 0.09 0.20 0.01 0.00 0.10 1.14 3

Pak Oman Islamic Asset Allocation Fund 50 52.2500 57.7900 57.7900 119.47 2.19% 0.80% 2.04% 0.80 0.61 0.64 14.11% 44.96% 10.60% 3.81% 10.32% 2.77% 1.91 0.04 0.12 0.00 0.00 0.10 1.11 3

Askari Islamic Asset Allocation Fund 100 100.6617 109.4387 109.4387 127.57 3.17% 1.48% 0.82% 0.10 3.81 0.01 11.60% 24.55% 8.72% 2.08% 8.80% 1.04% 3.25 (0.02) (0.05) (0.00) (0.01) (0.10) 1.09 2

Minimum 119.47 0.58% 0.36% -0.18% 0.10 0.01 0.01 8.40% 16.68% 6.31% 1.41% 6.15% 0.40% 0.85 (0.61) (0.97) (0.01) (0.01) (0.10) 1.06 2

Maximum 347.26 4.80% 2.16% 4.62% 0.98 0.95 0.95 17.99% 79.30% 13.52% 6.72% 13.68% 5.62% 3.25 0.09 0.20 0.01 0.00 0.19 1.14 3

Mean 249.25 2.69% 1.22% 1.53% 0.69 0.56 0.56 13.22% 36.93% 9.93% 3.13% 9.86% 2.09% 2.30 (0.09) (0.12) (0.00) (0.00) 0.06 1.10 3




-6%

-4%

-2%

0%

2%

4%

6%

8%

10%



Dawood Islamic Fund Alfalah GHP Islamic Fund Pakistan Int'l Element Islamic Asset Allocation Fund

Pak Oman Islamic Asset Allocation Fund Askari Islamic Asset Allocation Fund INDUSTRY AVERAGES


COMPLETE MUTUAL FUNDS PAYOUTS FY 2011-12

Interim Final Total FV Ex-NAV Annual

DIF (DMMF) 100 - - - 0.00% 0.00% 0.00% 79.4492 79.4492 79.4492 9.04% 12.03% 275 0.87% 0.08% 0.72% 0.01% 0.74% 0.07%

DIF (ISLAMIC) 100 - - - 0.00% 0.00% 0.00% 108.1787 108.1787 108.1787 6.31% 8.40% 275 0.87% 0.05% 0.98% 0.02% 1.01% 0.06%

FDMF 10 - 0.3300 0.3300 3.30% 3.48% 4.64% 8.9400 8.6100 8.2800 -5.60% -7.45% 275 0.09% 0.00% 0.08% 0.00% 0.08% 0.00%

TOTAL 210 - 0.3300 0.3300 1.10% 1.16% 1.55% 196.5679 196.2379 195.9079 3.25% 4.32% 275 1.82% 0.13% 1.78% 0.03% 1.84% 0.13%

PIF 50 3.2700 - 3.2700 6.54% 6.29% 8.38% 55.5000 52.2300 52.2300 6.81% 9.07% 275 0.43% 0.03% 0.50% 0.00% 0.49% 0.03%

PCF 50 3.9062 - 3.9062 7.81% 7.81% 10.40% 54.1781 50.2719 50.2719 8.35% 11.11% 275 0.43% 0.04% 0.49% 0.01% 0.47% 0.04%

PSM 50 - - - 0.00% 0.00% 0.00% 58.3900 58.3900 58.3900 8.54% 11.36% 275 0.43% 0.04% 0.53% 0.01% 0.55% 0.05%

PCM 10 - - - 0.00% 0.00% 0.00% 7.9500 7.9500 7.9500 6.52% 8.68% 275 0.09% 0.01% 0.07% 0.00% 0.07% 0.00%

PIIF 50 - - - 0.00% 0.00% 0.00% 43.2823 43.2823 43.2823 13.52% 17.99% 275 0.43% 0.06% 0.39% 0.01% 0.41% 0.05%

PIEF 50 3.4000 - 3.4000 6.80% 6.56% 8.73% 55.4700 52.0700 52.0700 6.96% 9.27% 275 0.43% 0.03% 0.50% 0.00% 0.49% 0.03%

MSF 50 4.3300 - 4.3300 8.66% 8.71% 11.60% 54.0600 49.7300 49.7300 8.78% 11.69% 275 0.43% 0.04% 0.49% 0.01% 0.47% 0.04%

PCPF-FIS 10 - 0.00% 0.00% 0.00% 10.4400 10.4400 10.4400 2.52% 3.35% 275 0.09% 0.00% 0.09% 0.00% 0.10% 0.00%

AHDJSPTIF 50 - - - 0.00% 0.00% 0.00% 60.6700 60.6700 60.6700 8.67% 11.54% 275 0.43% 0.04% 0.55% 0.01% 0.57% 0.05%

PSAF 10 - - - 0.00% 0.00% 0.00% 9.3100 9.3100 9.3100 12.35% 16.44% 275 0.09% 0.01% 0.08% 0.00% 0.09% 0.01%

PPF 10 - - - 0.00% 0.00% 0.00% 10.4500 10.4500 10.4500 10.82% 14.40% 275 0.09% 0.01% 0.09% 0.00% 0.10% 0.01%

MDSF 100 - - - 0.00% 0.00% 0.00% 95.4627 95.4627 95.4627 15.42% 20.53% 275 0.87% 0.13% 0.86% 0.03% 0.89% 0.14%

MDCF 100 8.4477 - 8.4477 8.45% 8.34% 11.10% 109.5261 101.0784 101.0784 8.09% 10.77% 275 0.87% 0.07% 0.99% 0.02% 0.95% 0.08%

MDAF 100 - - - 0.00% 0.00% 0.00% 75.2249 75.2249 75.2249 31.20% 41.53% 275 0.87% 0.27% 0.68% 0.04% 0.71% 0.22%

MCOP 100 8.5750 - 8.5750 8.58% 8.55% 11.38% 108.6512 100.0762 100.0762 8.38% 11.15% 275 0.87% 0.07% 0.98% 0.02% 0.94% 0.08%

MCBIIF 100 8.2000 - 8.2000 8.20% 8.18% 10.89% 109.2893 100.2806 100.2806 9.01% 12.00% 275 0.87% 0.08% 0.99% 0.02% 0.94% 0.08%

TOTAL 890 40.1289 - 40.1289 3.44% 3.40% 4.53% 917.8546 876.9170 876.9170 10.37% 13.80% 275 7.71% 0.92% 8.29% 0.19% 8.22% 0.93%

UGIF 100 - - - 0.00% 0.00% 0.00% 75.2837 75.2837 75.2837 -13.93% -18.54% 275 0.87% -0.12% 0.68% -0.02% 0.71% -0.10%

USF 100 - - - 0.00% 0.00% 0.00% 39.9800 39.9800 39.9800 15.48% 20.61% 275 0.87% 0.13% 0.36% 0.01% 0.37% 0.06%

UCIF 100 - - - 0.00% 0.00% 0.00% 80.9900 80.9900 80.9900 15.57% 20.72% 275 0.87% 0.14% 0.73% 0.03% 0.76% 0.12%

UIIF 100 - - - 0.00% 0.00% 0.00% 86.4338 86.4338 86.4338 -2.01% -2.68% 275 0.87% -0.02% 0.78% 0.00% 0.81% -0.02%

ULPF 100 8.0400 - 8.0400 8.04% 8.02% 10.67% 108.6215 100.5815 100.5815 8.36% 11.12% 275 0.87% 0.07% 0.98% 0.02% 0.94% 0.08%

UCPF-II 100 - - - 0.00% 0.00% 0.00% 102.3400 102.3400 102.3400 2.34% 3.11% 275 0.87% 0.02% 0.92% 0.01% 0.96% 0.02%

UBLSIF 100 8.5000 - 8.5000 8.50% 8.49% 11.30% 109.4282 100.9282 100.9282 9.28% 12.35% 275 0.87% 0.08% 0.99% 0.03% 0.95% 0.09%

UBLISF 100 0.6771 - 0.6771 0.68% 0.68% 0.90% 108.6709 100.4709 100.4709 8.49% 11.30% 275 0.87% 0.07% 0.98% 0.02% 0.94% 0.08%

UGSF 100 7.7700 - 7.7700 7.77% 7.77% 18.00% 108.2765 100.5065 100.5065 8.28% 12.17% 158 0.87% 0.05% 0.98% 0.02% 0.94% 0.05%

UCPF-I 100 - - - 0.00% 0.00% 0.00% 105.1400 105.1400 105.1400 5.14% 32.44% 58 0.87% 0.04% 0.95% 0.01% 0.99% 0.05%

TOTAL 900 24.9871 - 24.9871 2.50% 2.50% 4.09% 925.1646 892.6546 892.6546 5.70% 10.26% 275 8.67% 0.47% 8.35% 0.12% 8.37% 0.43%

JSIF 100 8.0000 - 8.0000 8.00% 9.37% 12.47% 94.1800 86.1800 86.1800 10.31% 13.72% 275 0.87% 0.09% 0.85% 0.02% 0.81% 0.08%

JSAIF 100 - - - 0.00% 0.00% 0.00% 99.7000 99.7000 99.7000 19.96% 26.57% 275 0.87% 0.17% 0.90% 0.05% 0.93% 0.19%

UTP 100 - - - 0.00% 0.00% 0.00% 114.6600 114.6600 114.6600 16.23% 21.60% 275 0.87% 0.14% 1.04% 0.05% 1.07% 0.17%

JSISF 100 - - - 0.00% 0.00% 0.00% 49.1700 49.1700 49.1700 23.82% 31.71% 275 0.87% 0.21% 0.44% 0.01% 0.46% 0.11%

JSPSF I 100 5.7500 - 5.7500 5.75% 4.91% 6.53% 127.8600 122.1100 122.1100 9.17% 12.20% 275 0.87% 0.08% 1.15% 0.04% 1.14% 0.11%

JSAAAF 100 - - - 0.00% 0.00% 0.00% 24.9700 24.9700 24.9700 10.88% 14.48% 275 0.87% 0.09% 0.23% 0.00% 0.23% 0.03%

JSFoF 100 - 0.00% 0.00% 0.00% 95.5300 95.5300 95.5300 10.44% 13.89% 275 0.87% 0.09% 0.86% 0.02% 0.90% 0.09%

JS KSE30 100 - - - 0.00% 0.00% 0.00% 33.3500 33.3500 33.3500 9.96% 13.25% 275 0.87% 0.09% 0.30% 0.00% 0.31% 0.03%

JSPSFII 100 - - - 0.00% 0.00% 0.00% 101.9300 101.9300 101.9300 0.80% 1.07% 275 0.87% 0.01% 0.92% 0.00% 0.96% 0.01%

JSCF 100 8.0000 - 8.0000 8.00% 7.94% 10.56% 109.5200 101.5200 101.5200 8.65% 11.51% 275 0.87% 0.08% 0.99% 0.02% 0.95% 0.08%

JSLCF 10 - - - 0.00% 0.00% 0.00% 58.8700 58.8700 58.8700 12.01% 15.98% 275 0.09% 0.01% 0.53% 0.01% 0.55% 0.07%

JSGF 10 - 1.0000 1.0000 10.00% 9.42% 12.53% 9.8600 8.8600 7.8600 -7.16% -9.52% 275 0.09% -0.01% 0.09% 0.00% 0.08% -0.01%

JSVFL 10 - 0.2000 0.2000 2.00% 1.97% 2.62% 9.6400 9.4400 9.2400 -5.21% -6.94% 275 0.09% 0.00% 0.09% 0.00% 0.09% 0.00%

TOTAL 1,030 21.7500 1.2000 22.9500 2.60% 2.58% 3.44% 929.2400 906.2900 905.0900 9.22% 12.27% 275 8.93% 1.04% 8.39% 0.24% 8.49% 0.96%

AIF 500 - - - 0.00% 0.00% 0.00% 514.1200 514.1200 514.1200 2.73% 3.63% 275 4.33% 0.12% 4.64% 0.18% 4.82% 0.13%

ASMF 500 - - - 0.00% 0.00% 0.00% 397.0900 397.0900 397.0900 18.80% 25.02% 275 4.33% 0.82% 3.59% 0.73% 3.72% 0.70%

AISF 500 - - - 0.00% 0.00% 0.00% 373.7800 373.7800 373.7800 22.92% 30.50% 275 4.33% 1.00% 3.38% 0.79% 3.50% 0.81%

AIIF 500 35.5000 - 35.5000 7.10% 7.09% 9.44% 550.0900 514.5900 514.5900 7.62% 10.14% 275 4.33% 0.33% 4.97% 0.53% 4.82% 0.37%

AMMF 500 39.0000 - 39.0000 7.80% 7.77% 10.34% 543.4500 504.4500 504.4500 8.26% 11.00% 275 4.33% 0.36% 4.91% 0.56% 4.73% 0.39%

AFoF 10 - 1.5000 1.5000 15.00% 15.42% 20.52% 10.2400 8.7400 7.2400 5.24% 6.98% 275 0.09% 0.00% 0.09% 0.00% 0.08% 0.00%

TOTAL 2,510 74.5000 1.5000 76.0000 4.98% 5.05% 6.72% 2,388.7700 2,312.7700 2,311.2700 10.93% 14.54% 275 21.75% 2.63% 21.57% 2.80% 21.68% 2.40%

AHYS 100 - - - 0.00% 0.00% 0.00% 102.5226 102.5226 102.5226 4.46% 5.93% 275 0.87% 0.04% 0.93% 0.01% 0.96% 0.04%

AAAF 100 - - - 0.00% 0.00% 0.00% 45.1411 45.1411 45.1411 9.96% 13.26% 275 0.87% 0.09% 0.41% 0.01% 0.42% 0.04%

ASCF 100 8.7542 - 8.7542 8.75% 8.72% 11.61% 108.9141 100.1599 100.1599 8.55% 11.38% 275 0.87% 0.07% 0.98% 0.02% 0.94% 0.08%

AIIF 100 6.3404 - 6.3404 6.34% 6.33% 8.42% 106.6472 100.3068 100.3068 6.43% 8.56% 275 0.87% 0.06% 0.96% 0.02% 0.94% 0.06%

AIAAF 100 - - - 0.00% 0.00% 0.00% 109.4387 109.4387 109.4387 8.72% 11.60% 275 0.87% 0.08% 0.99% 0.03% 1.03% 0.09%

AEF 100 - - - 0.00% 0.00% 0.00% 100.0242 100.0242 100.0242 0.02% 4.43% 2 0.87% 0.00% 0.90% 0.00% 0.94% 0.00%

TOTAL 600 15.0946 - 15.0946 2.52% 2.51% 3.34% 572.6879 557.5933 557.5933 6.36% 9.19% 275 5.20% 0.33% 5.17% 0.08% 5.23% 0.32%

NIOF 10 - - - 0.00% 0.00% 0.00% 9.5428 9.5428 9.5428 -1.76% -2.34% 275 0.09% 0.00% 0.09% 0.00% 0.09% 0.00%

NIF 10 - - - 0.00% 0.00% 0.00% 8.9934 8.9934 8.9934 -7.39% -9.83% 275 0.09% -0.01% 0.08% 0.00% 0.08% -0.01%

NSF 10 - - - 0.00% 0.00% 0.00% 7.8467 7.8467 7.8467 20.54% 27.34% 275 0.09% 0.02% 0.07% 0.00% 0.07% 0.02%

NMF 10 - - - 0.00% 0.00% 0.00% 10.6003 10.6003 10.6003 14.27% 18.99% 275 0.09% 0.01% 0.10% 0.00% 0.10% 0.01%

NIAIF 10 - - - 0.00% 0.00% 0.00% 8.3737 8.3737 8.3737 16.00% 21.29% 275 0.09% 0.01% 0.08% 0.00% 0.08% 0.01%

NIMF 10 - - - 0.00% 0.00% 0.00% 10.2050 10.2050 10.2050 12.09% 16.10% 275 0.09% 0.01% 0.09% 0.00% 0.10% 0.01%

NGSLF 10 0.7200 - 0.7200 7.20% 7.14% 9.50% 10.7945 10.0745 10.0745 7.05% 9.38% 275 0.09% 0.01% 0.10% 0.00% 0.09% 0.01%

NSPF 10 0.7101 - 0.7101 7.10% 7.08% 9.42% 10.7490 10.0389 10.0389 7.19% 9.57% 275 0.09% 0.01% 0.10% 0.00% 0.09% 0.01%

NRFSF 10 6.7500 - 6.7500 67.50% 66.98% 89.14% 10.8225 10.1454 10.1454 7.39% 9.83% 275 0.09% 0.01% 0.10% 0.00% 0.10% 0.01%

NAAF 10 - - - 0.00% 0.00% 0.00% 11.7999 11.7999 11.7999 14.89% 19.82% 275 0.09% 0.01% 0.11% 0.00% 0.11% 0.02%

NFSIF 10 0.2000 - 0.2000 2.00% 2.00% 4.69% 10.5181 10.3181 10.3181 5.18% 10.14% 156 0.09% 0.00% 0.09% 0.00% 0.10% 0.00%

NMMF 10 0.0870 - 0.0870 0.87% 0.87% 8.61% 10.1063 10.0193 10.0193 1.06% 12.55% 37 0.09% 0.00% 0.09% 0.00% 0.09% 0.00%

TOTAL 120 8.4671 - 8.4671 7.06% 7.01% 10.11% 120.3522 117.9580 117.9580 8.04% 11.90% 275 1.04% 0.08% 1.09% 0.00% 1.11% 0.09%

KIOF 100 - - - 0.00% 0.00% 0.00% 57.4339 57.4339 57.4339 8.43% 11.23% 275 0.87% 0.07% 0.52% 0.01% 0.54% 0.05%

KSMF 50 - - - 0.00% 0.00% 0.00% 27.6400 27.6400 27.6400 4.82% 6.41% 275 0.43% 0.02% 0.25% 0.00% 0.26% 0.01%

KAAF 50 - - - 0.00% 0.00% 0.00% 38.4000 38.4000 38.4000 0.87% 1.15% 275 0.43% 0.00% 0.35% 0.00% 0.36% 0.00%

KIIOF 100 3.0000 - 3.0000 3.00% 3.12% 4.15% 102.4900 99.4900 99.4900 6.48% 8.63% 275 0.87% 0.06% 0.93% 0.02% 0.93% 0.06%

KCF 100 4.0000 - 4.0000 4.00% 4.00% 5.32% 108.7900 104.7900 104.7900 8.67% 11.54% 275 0.87% 0.08% 0.98% 0.02% 0.98% 0.09%

KCPGF 100 5.2400 - 5.2400 5.24% 5.23% 7.36% 105.2400 100.0000 100.0000 4.99% 7.02% 260 0.87% 0.04% 0.95% 0.01% 0.94% 0.05%

CDF 100 - - - 0.00% 0.00% 0.00% 88.7300 88.7300 88.7300 10.28% 13.68% 275 0.87% 0.09% 0.80% 0.02% 0.83% 0.09%

CPF 100 - - - 0.00% 0.00% 0.00% 109.5400 109.5400 109.5400 7.78% 10.36% 275 0.87% 0.07% 0.99% 0.02% 1.03% 0.08%

TOTAL 700 12.2400 - 12.2400 1.53% 1.54% 2.10% 638.2639 626.0239 626.0239 6.54% 8.75% 275 6.07% 0.43% 5.76% 0.11% 5.87% 0.42%

MIF 50 - - - 0.00% 0.00% 0.00% 48.6800 48.6800 48.6800 17.10% 22.76% 275 0.43% 0.07% 0.44% 0.01% 0.46% 0.08%

AMMF 10 1.7500 - 1.7500 17.50% 14.10% 18.77% 14.1300 12.3800 12.3800 13.86% 18.45% 275 0.09% 0.01% 0.13% 0.00% 0.12% 0.02%

MIIF 50 5.2965 - 5.2965 10.59% 10.58% 14.08% 56.0965 50.8000 50.8000 12.06% 16.05% 275 0.43% 0.05% 0.51% 0.01% 0.48% 0.06%

MCF 50 3.9000 - 3.9000 7.80% 7.80% 10.37% 55.4250 50.1700 50.1700 8.08% 10.75% 275 0.43% 0.04% 0.50% 0.01% 0.47% 0.04%

MSF 50 5.2000 - 5.2000 10.40% 10.40% 13.84% 55.5400 50.3400 50.3400 11.06% 14.72% 275 0.43% 0.05% 0.50% 0.01% 0.47% 0.05%

MCPF-II 50 - - - 0.00% 0.00% 0.00% 51.9600 51.9600 51.9600 3.92% 5.33% 269 0.43% 0.02% 0.47% 0.00% 0.49% 0.02%

MBF 10 - 1.7500 1.7500 17.50% 13.78% 18.34% 13.0600 11.3100 9.5600 2.83% 3.77% 275 0.09% 0.00% 0.12% 0.00% 0.11% 0.00%

TOTAL 270 16.1465 1.7500 17.8965 9.11% 8.09% 10.77% 294.8915 275.6400 273.8900 9.84% 13.12% 275 2.34% 0.24% 2.66% 0.04% 2.58% 0.26%

AGVF 50 - - - 0.00% 0.00% 0.00% 54.3900 54.3900 54.3900 7.45% 9.91% 275 0.43% 0.03% 0.49% 0.01% 0.51% 0.04%

AGIMF 50 1.5900 - 1.5900 3.18% 3.21% 4.28% 46.7069 45.1169 45.1169 -5.60% -7.45% 275 0.43% -0.02% 0.42% 0.00% 0.42% -0.02%

AGIF 50 - - - 0.00% 0.00% 0.00% 58.8200 58.8200 58.8200 10.50% 13.98% 275 0.43% 0.05% 0.53% 0.01% 0.55% 0.06%

AGAF 50 - - - 0.00% 0.00% 0.00% 60.1500 60.1500 60.1500 8.95% 11.91% 275 0.43% 0.04% 0.54% 0.01% 0.56% 0.05%

AGPPF-II 50 - - - 0.00% 0.00% 0.00% 52.4200 52.4200 52.4200 1.10% 4.68% 86 0.43% 0.00% 0.47% 0.00% 0.49% 0.01%

AGCF 500 39.2900 - 39.2900 7.86% 7.86% 10.46% 43.4600 4.1700 4.1700 7.96% 10.59% 275 4.33% 0.35% 0.39% 0.00% 0.04% 0.00%

TOTAL 750 40.8800 - 40.8800 1.84% 1.85% 2.46% 315.9469 275.0669 275.0669 5.06% 7.27% 275 6.50% 0.44% 2.85% 0.02% 2.58% 0.13%

FBGF 100 - - - 0.00% 0.00% 0.00% 64.4800 64.4800 64.4800 2.81% 3.73% 275 0.87% 0.02% 0.58% 0.00% 0.60% 0.02%

FIGF 100 6.2000 - 6.2000 6.20% 6.08% 8.09% 113.1800 106.9800 106.9800 11.02% 14.66% 275 0.87% 0.10% 1.02% 0.03% 1.00% 0.11%

FSGF 100 5.5000 - 5.5000 5.50% 5.47% 7.28% 108.8600 103.3600 103.3600 8.22% 10.94% 275 0.87% 0.07% 0.98% 0.02% 0.97% 0.08%

FAAF 100 - - - 0.00% 0.00% 0.00% 69.2700 69.2700 69.2700 5.02% 6.68% 275 0.87% 0.04% 0.63% 0.01% 0.65% 0.03%

FISGF 100 0.8040 - 0.8040 0.80% 0.80% 1.07% 108.9500 102.2000 102.2000 8.51% 11.32% 275 0.87% 0.07% 0.98% 0.02% 0.96% 0.08%

FMMF 100 5.4000 - 5.4000 5.40% 5.38% 7.16% 108.4400 103.0400 103.0400 8.08% 10.76% 275 0.87% 0.07% 0.98% 0.02% 0.97% 0.08%

TOTAL 600 17.9040 - 17.9040 2.98% 2.96% 3.93% 573.1800 549.3300 549.3300 7.27% 9.68% 275 5.20% 0.38% 5.18% 0.11% 5.15% 0.40%

IGIIF 100 7.7159 - 7.7159 7.72% 7.67% 10.21% 108.8282 101.1123 101.1123 8.22% 10.95% 275 0.87% 0.07% 0.98% 0.02% 0.95% 0.08%

IGISF 100 - - - 0.00% 0.00% 0.00% 121.7374 121.7374 121.7374 13.63% 18.14% 275 0.87% 0.12% 1.10% 0.05% 1.14% 0.16%

IGIIIF 100 6.9116 - 6.9116 6.91% 6.90% 9.18% 107.6409 100.7293 100.7293 7.39% 9.84% 275 0.87% 0.06% 0.97% 0.02% 0.94% 0.07%

IGIMMF 100 7.8800 - 7.8800 7.88% 7.86% 10.46% 108.8418 100.9618 100.9618 8.59% 11.44% 275 0.87% 0.07% 0.98% 0.02% 0.95% 0.08%

IGIAIF 50 4.0993 - 4.0993 8.20% 9.88% 13.14% 48.1729 44.0736 44.0736 16.06% 21.38% 275 0.43% 0.07% 0.44% 0.01% 0.41% 0.07%

IGICPF 100 - - - 0.00% 0.00% 0.00% 100.6438 100.6438 100.6438 0.64% 1.32% 179 0.87% 0.01% 0.91% 0.00% 0.94% 0.01%

TOTAL 550 26.6068 - 26.6068 5.12% 5.38% 7.17% 595.8650 569.2582 569.2582 9.09% 12.18% 275 4.77% 0.40% 5.38% 0.13% 5.34% 0.46%

AKDOF 50 - - - 0.00% 0.00% 0.00% 38.3747 38.3747 38.3747 23.79% 31.66% 275 0.43% 0.10% 0.35% 0.01% 0.36% 0.09%

AKDITF 10 - - - 0.00% 0.00% 0.00% 9.3089 9.3089 9.3089 7.99% 10.64% 275 0.09% 0.01% 0.08% 0.00% 0.09% 0.01%

AKDAIF 50 - - - 0.00% 0.00% 0.00% 51.0377 51.0377 51.0377 8.99% 11.97% 275 0.43% 0.04% 0.46% 0.01% 0.48% 0.04%

GASSF 10 - 0.7500 0.7500 7.50% 11.85% 15.77% 5.6783 4.9283 4.1783 -10.30% -13.70% 275 0.09% -0.01% 0.05% 0.00% 0.05% 0.00%

AKDCF 50 1.0035 - 1.0035 2.01% 2.01% 10.20% 51.5706 50.0577 50.0577 2.01% 12.24% 72 0.43% 0.01% 0.47% 0.00% 0.47% 0.01%

TOTAL 170 1.0035 0.7500 1.7535 1.90% 2.77% 5.19% 155.9702 153.7073 152.9573 6.50% 10.56% 275 1.47% 0.15% 1.41% 0.02% 1.44% 0.14%

FHIF 100 7.6500 - 7.6500 7.65% 7.64% 10.17% 109.9790 102.3290 102.3290 7.65% 10.19% 275 0.87% 0.07% 0.99% 0.02% 0.96% 0.07%

FHSF 100 - - - 0.00% 0.00% 0.00% 103.2379 103.2379 103.2379 3.12% 4.16% 275 0.87% 0.03% 0.93% 0.01% 0.97% 0.03%

FHCF 100 8.2500 - 8.2500 8.25% 8.25% 10.98% 110.9771 102.7271 102.7271 8.24% 10.97% 275 0.87% 0.07% 1.00% 0.02% 0.96% 0.08%

TOTAL 300 15.9000 - 15.9000 5.30% 5.30% 7.05% 324.1940 308.2940 308.2940 6.34% 8.44% 275 2.60% 0.17% 2.93% 0.05% 2.89% 0.18%

HBLIF 100 4.5000 - 4.5000 4.50% 4.57% 6.08% 108.4235 103.9235 103.9235 10.06% 13.39% 275 0.87% 0.09% 0.98% 0.03% 0.97% 0.10%

HBLMF 100 - - - 0.00% 0.00% 0.00% 93.8573 93.8573 93.8573 11.52% 15.33% 275 0.87% 0.10% 0.85% 0.03% 0.88% 0.10%

HBLSF 100 - - - 0.00% 0.00% 0.00% 105.3680 105.3680 105.3680 12.39% 16.49% 275 0.87% 0.11% 0.95% 0.03% 0.99% 0.12%

HBLMMF 100 5.5000 - 5.5000 5.50% 5.50% 7.32% 108.5517 103.0517 103.0517 8.55% 11.38% 275 0.87% 0.07% 0.98% 0.02% 0.97% 0.08%

HBLIMMF 100 4.5000 - 4.5000 4.50% 4.50% 5.99% 104.4471 102.9871 102.9871 7.49% 9.96% 275 0.87% 0.07% 0.94% 0.02% 0.97% 0.07%

HBLISF 100 - - - 0.00% 0.00% 0.00% 118.5384 118.5384 118.5384 17.42% 23.19% 275 0.87% 0.15% 1.07% 0.06% 1.11% 0.19%

TOTAL 600 14.5000 - 14.5000 2.42% 2.43% 3.23% 639.1860 627.7260 627.7260 11.24% 14.96% 275 5.20% 0.59% 5.77% 0.19% 5.88% 0.67%

FUNDS FACE

VALUE

DAWOOD

MCB AHIML

ASSET

MANAGER

UBLFM

MUTUAL FUNDS LIST

WEIGHTED AVERAGES

Weight

Last NAV

Wt. Avg.

Return PN

Total NAV

HBL AM

ATLAS AMC

ASKARI IM

NAFA

Weight

Total NAV

DIVIDEND PAYOUTS FY 2011-12

DIVIDEND PAYOUTS

PKR % Last NAV Ex-NAV Abs. Return

%

Ann.

Return %

No. of

Days

Weight

Par NAV

Wt. Avg.

Return LN

PERFORMANCE

Wt. Avg.

Return TN

IGIIM

AKDIM

HABIB AM

KASB AMC

ALMEEZAN

ALFALAH

GHP

FAYSAL AM

JSIL

Prepared by: Mustansir Shabbar, Head of Customer Servcies, DCM Ltd.

COMPLETE MUTUAL FUNDS PAYOUTS FY 2011-12

Interim Final Total FV Ex-NAV Annual

FUNDS FACE

VALUE

DAWOOD

ASSET

MANAGER

MUTUAL FUNDS LIST

WEIGHTED AVERAGES

Weight

Last NAV

Wt. Avg.

Return PN

Total NAV Weight

Total NAV

DIVIDEND PAYOUTS FY 2011-12

DIVIDEND PAYOUTS

PKR % Last NAV Ex-NAV Abs. Return

%

Ann.

Return %

No. of

Days

Weight

Par NAV

Wt. Avg.

Return LN

PERFORMANCE

Wt. Avg.

Return TN

NI(U)T 10 - - - 0.00% 0.00% 0.00% 28.5100 28.5100 28.5100 1.31% 1.75% 275 0.09% 0.00% 0.26% 0.00% 0.27% 0.00%

NITGBF 10 - - - 0.00% 0.00% 0.00% 10.8204 10.8204 10.8204 7.17% 9.54% 275 0.09% 0.01% 0.10% 0.00% 0.10% 0.01%

NITIF 10 - - - 0.00% 0.00% 0.00% 11.1151 11.1151 11.1151 9.56% 12.73% 275 0.09% 0.01% 0.10% 0.00% 0.10% 0.01%

TOTAL 30 - - - 0.00% 0.00% 0.00% 50.4455 50.4455 50.4455 6.02% 8.01% 275 0.26% 0.02% 0.46% 0.00% 0.47% 0.02%

POIAAF 50 - - - 0.00% 0.00% 0.00% 57.7900 57.7900 57.7900 10.60% 14.11% 275 0.43% 0.05% 0.52% 0.01% 0.54% 0.06%

POAIIF 50 2.3240 - 2.3240 4.65% 4.62% 6.15% 54.6939 52.3699 52.3699 8.74% 11.64% 275 0.43% 0.04% 0.49% 0.01% 0.49% 0.04%

POAAF 50 - - - 0.00% 0.00% 0.00% 50.6700 50.6700 50.6700 -0.06% -0.08% 275 0.43% 0.00% 0.46% 0.00% 0.47% 0.00%

POGSF 10 0.7166 - 0.7166 7.17% 7.17% 10.58% 10.9580 10.2414 10.2414 9.58% 14.14% 248 0.09% 0.01% 0.10% 0.00% 0.10% 0.01%

POAF 10 - 1.0173 1.0173 10.17% 10.17% 13.54% 11.7573 10.7400 9.7227 4.51% 6.00% 275 0.09% 0.00% 0.11% 0.00% 0.10% 0.00%

TOTAL 170 3.0406 1.0173 4.0579 4.40% 4.39% 6.05% 185.8692 181.8113 180.7940 6.68% 9.16% 275 1.47% 0.10% 1.68% 0.02% 1.70% 0.11%

BCSF 10 - - - 0.00% 0.00% 0.00% 7.5324 7.5324 7.5324 -15.67% -20.86% 275 0.09% -0.01% 0.07% 0.00% 0.07% -0.01%

BECF 10 0.7500 - 0.7500 7.50% 7.46% 9.93% 10.8822 10.1322 10.1322 8.24% 10.97% 275 0.09% 0.01% 0.10% 0.00% 0.09% 0.01%

TOTAL 20 0.7500 - 0.7500 3.75% 3.73% 4.96% 18.4146 17.6646 17.6646 -3.72% -4.94% 275 0.17% -0.01% 0.17% 0.00% 0.17% 0.00%

NIF 100 12.3000 - 12.3000 12.30% 11.94% 15.90% 120.7114 108.4114 108.4114 17.21% 22.91% 275 0.87% 0.15% 1.09% 0.06% 1.02% 0.18%

NBF 10 - 0.8000 0.8000 8.00% 10.44% 13.90% 7.9252 7.1252 6.3252 3.46% 4.61% 275 0.09% 0.00% 0.07% 0.00% 0.07% 0.00%

TOTAL 110 12.3000 0.8000 13.1000 10.15% 11.19% 14.90% 128.6366 115.5366 114.7366 10.34% 13.76% 275 0.95% 0.15% 1.16% 0.06% 1.08% 0.18%

ABLIF 10 0.8777 - 0.8777 8.78% 8.76% 11.66% 10.8999 10.0222 10.0222 8.79% 11.69% 275 0.09% 0.01% 0.10% 0.00% 0.09% 0.01%

ABLSF 10 - - - 0.00% 0.00% 0.00% 12.4390 12.4390 12.4390 23.88% 31.79% 275 0.09% 0.02% 0.11% 0.00% 0.12% 0.03%

ABLCF 10 0.8300 - 0.8300 8.30% 8.28% 11.03% 10.8576 10.0276 10.0276 8.37% 11.14% 275 0.09% 0.01% 0.10% 0.00% 0.09% 0.01%

ABLIIF 10 0.8040 - 0.8040 8.04% 8.03% 10.68% 10.8316 10.0276 10.0276 8.14% 10.83% 275 0.09% 0.01% 0.10% 0.00% 0.09% 0.01%

ABLGSF 10 0.3349 - 0.3349 3.35% 3.35% 9.88% 10.3649 10.0300 10.0300 3.65% 10.77% 124 0.09% 0.00% 0.09% 0.00% 0.09% 0.00%

TOTAL 50 2.8466 - 2.8466 5.69% 5.68% 8.65% 55.3930 52.5464 52.5464 10.57% 15.25% 275 0.43% 0.05% 0.50% 0.00% 0.49% 0.06%

LMMF 100 8.1045 - 8.1045 8.10% 8.10% 10.79% 108.1870 100.0825 100.0825 8.19% 10.90% 275 0.87% 0.07% 0.98% 0.02% 0.94% 0.08%

LIF 100 8.1521 - 8.1521 8.15% 8.14% 10.83% 108.4895 100.3374 100.3374 8.31% 11.06% 275 0.87% 0.07% 0.98% 0.02% 0.94% 0.08%

LEF 100 - - - 0.00% 0.00% 0.00% 112.5609 112.5609 112.5609 10.14% 13.49% 275 0.87% 0.09% 1.02% 0.03% 1.05% 0.11%

LDMF 100 - - - 0.00% 0.00% 0.00% 104.0251 104.0251 104.0251 4.03% 8.47% 174 0.87% 0.03% 0.94% 0.01% 0.97% 0.04%

LEMF 100 - - - 0.00% 0.00% 0.00% 103.9417 103.9417 103.9417 3.94% 8.29% 174 0.87% 0.03% 0.94% 0.01% 0.97% 0.04%

LGCF 100 - - - 0.00% 0.00% 0.00% 103.8929 103.8929 103.8929 3.89% 8.19% 174 0.87% 0.03% 0.94% 0.01% 0.97% 0.04%

TOTAL 600 16.2566 - 16.2566 2.71% 2.71% 3.60% 641.0971 624.8405 624.8405 6.42% 10.07% 275 5.20% 0.33% 5.79% 0.11% 5.86% 0.38%

PICIC-IF 100 8.3000 - 8.3000 8.30% 8.26% 10.99% 109.2053 100.9053 100.9053 8.70% 11.57% 275 0.87% 0.08% 0.99% 0.02% 0.95% 0.08%

PICIC-CF 100 8.1000 - 8.1000 8.10% 8.09% 10.77% 108.4169 100.3169 100.3169 8.30% 11.04% 275 0.87% 0.07% 0.98% 0.02% 0.94% 0.08%

PICIC-SF 100 - - - 0.00% 0.00% 0.00% 112.0995 112.0995 112.0995 12.10% 23.62% 188 0.87% 0.11% 1.01% 0.04% 1.05% 0.13%

PICIC-EF 10 - 1.5000 1.5000 15.00% 15.00% 19.96% 10.5600 9.0600 7.5600 -0.38% -0.50% 275 0.09% 0.00% 0.10% 0.00% 0.08% 0.00%

PICIC-GF 10 - 2.5500 2.5500 25.50% 25.50% 33.94% 26.3300 23.7800 21.2300 -3.76% -5.01% 275 0.09% 0.00% 0.24% 0.00% 0.22% -0.01%

PICIC-IF 10 - 1.2500 1.2500 12.50% 12.50% 16.64% 12.1200 10.8700 9.6200 -3.58% -4.76% 275 0.09% 0.00% 0.11% 0.00% 0.10% 0.00%

TOTAL 330 16.4000 5.3000 21.7000 11.57% 11.56% 15.38% 378.7317 357.0317 351.7317 3.56% 5.99% 275 2.86% 0.25% 3.42% 0.08% 3.35% 0.28%

FCMF 10 - - - 0.00% 0.00% 0.00% 8.5200 8.5200 8.5200 -0.35% -0.47% 275 0.09% 0.00% 0.08% 0.00% 0.08% 0.00%

TOTAL 10 - - - 0.00% 0.00% 0.00% 8.5200 8.5200 8.5200 -0.35% -0.47% 275 0.09% 0.00% 0.08% 0.00% 0.08% 0.00%

ASFL 10 - 0.6600 0.6600 6.60% 9.21% 12.25% 6.7200 6.0600 5.4000 -6.28% -8.35% 275 0.09% -0.01% 0.06% 0.00% 0.06% 0.00%

SMFL 10 - 1.1200 1.1200 11.20% 9.21% 12.26% 11.3800 10.2600 9.1400 -6.41% -8.54% 275 0.09% -0.01% 0.10% 0.00% 0.10% -0.01%

TOTAL 20 - 1.7800 1.7800 8.90% 9.21% 12.25% 18.1000 16.3200 14.5400 -6.35% -8.45% 275 0.17% -0.01% 0.16% 0.00% 0.15% -0.01%

11,540 381.7023 14.4273 396.1296 4.23% 4.29% 5.90% 11,073.3424 10,670.1837 10,655.7564 6.20% 8.73% 275 100.87% 9.28% 100.00% 4.38% 100.00% 8.93%

Money Market Funds

Conventional 2,230 166.1034 - 166.1034 7.45% 19.32% 1.58% 17.37% 0.82% 16.46% 1.35%

Islamic 150 8.4000 - 8.4000 5.60% 1.30% 0.10% 1.44% 0.03% 1.44% 0.11%

Total 2,380 174.5034 - 174.5034 7.33% 20.62% 1.68% 18.81% 0.85% 17.90% 1.46%

Income Funds

Conventional 1,970 96.7401 - 96.7401 4.91% 17.07% 1.24% 18.80% 0.51% 18.60% 1.35%

Islamic 1,170 78.8076 - 78.8076 6.74% 10.14% 0.83% 11.55% 0.66% 11.17% 0.91%

Total 3,140 175.5477 - 175.5477 5.59% 27.21% 2.07% 30.35% 1.18% 29.78% 2.27%

Aggressive Income Funds

Conventional 710 15.2893 - 15.2893 2.15% 6.15% 0.36% 5.93% 0.10% 6.01% 0.40%

Islamic 210 3.0000 - 3.0000 1.43% 1.82% 0.05% 1.78% 0.01% 1.82% 0.06%

Total 920 18.2893 - 18.2893 1.99% 7.97% 0.41% 7.72% 0.11% 7.84% 0.45%

Stock Funds

Conventional 1,560 - - - 0.00% 13.52% 1.89% 13.44% 0.99% 13.95% 1.86%

Islamic 760 1.7500 - 1.7500 0.23% 6.59% 1.44% 5.46% 0.88% 5.65% 1.20%

Total 2,320 1.7500 - 1.7500 0.08% 20.10% 3.33% 18.90% 1.87% 19.59% 3.06%

Balanced Funds

Conventional 320 - - - 0.00% 2.77% 0.28% 2.63% 0.08% 2.73% 0.31%

Islamic 110 - - - 0.00% 0.95% 0.15% 0.82% 0.03% 0.85% 0.13%

Total 430 - - - 0.00% 3.73% 0.43% 3.46% 0.11% 3.59% 0.44%


Conventional 860 - - - 0.00% 7.45% 0.65% 6.16% 0.09% 6.39% 0.49%

Islamic 350 - - - 0.00% 3.03% 0.28% 3.41% 0.07% 3.54% 0.32%

Total 1,210 - - - 0.00% 10.49% 0.93% 9.57% 0.16% 9.93% 0.82%

Index Tracker Funds

Conventional 160 - - - 0.00% 1.39% 0.13% 0.93% 0.01% 0.97% 0.09%

Islamic - - - - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Total 160 - - - 0.00% 1.39% 0.13% 0.93% 0.01% 0.97% 0.09%

Capital Protected Funds

Conventional 710 10.9900 - 10.9900 1.55% 3.99% 0.16% 4.52% 0.06% 4.59% 0.19%

Islamic 50 - - - 0.00% 0.43% 0.02% 0.47% 0.00% 0.49% 0.02%

Total 760 10.9900 - 10.9900 1.45% 4.42% 0.17% 4.99% 0.06% 5.07% 0.21%

Fund of Funds

Conventional 100 - - - 0.00% 0.87% 0.09% 0.86% 0.02% 0.90% 0.09%

Islamic - - - - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Total 100 - - - 0.00% 0.87% 0.09% 0.86% 0.02% 0.90% 0.09%

Net Open End Funds Payouts

Conventional 8,620 289.1228 - 289.1228 3.35% 72.53% 6.38% 70.64% 2.69% 70.60% 6.14%

Islamic 2,800 91.9576 - 91.9576 3.28% 24.26% 2.87% 24.94% 1.68% 24.96% 2.76%

Total 11,420 381.0804 - 381.0804 3.34% 96.79% 9.25% 95.58% 4.37% 95.55% 8.89%

AMC Avg.

Returns

Avg.

Payouts

ABL 15.25% 8.65%

ALFALAH 7.27% 2.46%

MCB AHIML 13.80% 4.53%

AKD IM 10.56% 5.19%

ALMEEZAN 13.12% 10.77%

ASKARI 9.19% 3.34%

ATLAS 14.54% 6.72%

BMA -4.94% 4.96%

DAWOOD 4.32% 1.55%

FAYSAL 9.68% 3.93%

FIRST CAPITAL -0.47% 0.00%

HABIB AM 8.44% 7.05%

HBL AM 14.96% 3.23%

IGI IM 12.18% 7.17%

JSIL 12.27% 3.44%

KASB 8.75% 2.10%

LAKSON 10.07% 3.60%

NAFA 11.90% 10.11%

NAMCO 13.76% 14.90%

NIT 8.01% 0.00%

PICIC 5.99% 15.38%

PAKOMAN 9.16% 6.05%

SAFEWAY -8.45% 12.25%

UBL FM 10.26% 4.09%

TOTAL / AVERAGE

NIUT

SAFEWAY

FIRST

CAPITAL

LAKSON

AMC

PICIC AM

ABLAMC

PAKOMAN

AMC

BMA

NAMCO

166.10

-

166.10

8.40 0.00

8.40

0

50

100

150

200

Interim Final Total

Money Marke Funds Payouts

Conventional

Islamic

15.29

-

15.29

3.00

0.00

3.00

0

5

10

15

20

Interim Final Total

Agressive Income Funds Payouts

Conventional

Islamic

- - - - - - 0

0

0

1

1

1

Interim Final Total

Balanced Funds Payouts

Conventional

Islamic

- - - - - -

0

0

0

1

1

1

Interim Final Total

Index Tracker Funds Payouts

Conventional

Islamic

- - - - - -

0

0

0

1

1

1

Interim Final Total

Fund of Funds Payouts

Conventional

Islamic

96.74

-

96.74

78.81

0.00

78.81

0

20

40

60

80

100

120

Interim Final Total

Income Funds Payouts

Conventional

Islamic

0.00 0.00 0.00

1.75

-

1.75

0

1

1

2

2

Interim Final Total

Stock Funds Payouts

Conventional

Islamic

- - - - - -

0

0

0

1

1

1

Interim Final Total

Asset Allocation Funds Payouts

Conventional

Islamic

10.99

-

10.99

- - - 0

2

4

6

8

10

12

Interim Final Total

Capital Protected Funds Payouts

Conventional

Islamic

289.12

-

289.12

91.96

0.00

91.96

0

100

200

300

400

Interim Final Total

Net Open End Funds Payouts

Conventional

Islamic

15

.25

%

7.2

7%

13

.80

%

10

.56

% 13

.12

%

9.1

9%

14

.54

%

-4.9

4%

4.3

2%

9.6

8%

-0.4

7%

8.4

4%

14

.96

%

12

.18

%

12

.27

%

8.7

5%

10

.07

%

11

.90

%

13

.76

%

8.0

1%

5.9

9%

9.1

6%

-8.4

5%

10

.26

%

8.6

5%

2.4

6%

4.5

3%

5.1

9%

10

.77

%

3.3

4%

6.7

2%

4.9

6%

1.5

5%

3.9

3%

0.0

0%

7.0

5%

3.2

3%

7.1

7%

3.4

4%

2.1

0%

3.6

0%

10

.11

%

14

.90

%

0.0

0%

15

.38

%

6.0

5%

12

.25

%

4.0

9%

-10.00%

-5.00%

0.00%

5.00%

10.00%

15.00%

20.00%

AB

L

ALF

ALA

H

MC

B A

HIM

L

AK

D IM

ALM

EEZA

N

ASK

AR

I

ATL

AS

BM

A

DA

WO

OD

FAY

SAL

FIR

ST C

AP

ITA

L

HA

BIB

AM

HB

L A

M

IGI I

M

JSIL

KA

SB

LAK

SON

NA

FA

NA

MC

O

NIT

PIC

IC

PA

KO

MA

N

SAFE

WA

Y

UB

L FM

AMC Returns Vs. Payouts Snapshot Avg. Returns

Avg. Payouts

Prepared by: Mustansir Shabbar, Head of Customer Servcies, DCM Ltd.

Open End Mutual Funds Screening Report March 2012

Documents

Transcript of Open End Mutual Funds Screening Report March 2012