Actual return (actual mix at actual return) Calculate 1

Strategic return (strategic mix at strategic return) Calculate 2

Allocation return (actual mix at strategic return) Calculate 3

Pension return (long-term objective) 7.0%

Strategic Mix Actual Mix Beta

Cash 5% 10% 0.0

Bonds 40% 30% 0.6

Equity 55% 60% 1.1

Strategic Return Actual Return

Cash 3% 1%

Bonds 6% 6%%

Equity 9% 12%

Results:

Overall performance gain versus strategy: ______________________________________

Gain versus long-term objective: ___________________________________________

A - Strategy Policy Return _____________

B - Allocation Return _____________ impact +/- to return A ________

C - Actual Return _____________ impact +/- to return B ________

D What is the portfolio Beta?

E What is your overall assessment of the portfolio performance?