For the fiscal year ended 6/30/2008, the Group's portfolio declined 11.81% including
realized dividend gains of approximately $14,000 on the year. This compared to the
S&P 500 Index, which lost 14.86% during the same period. Consequently, the Group achieved outperformance of
304 basis points for the year.
Performance was driven largely by advancements in a number of individual positions with strong
company-specific theses that all performed above and beyond the Group's expectations.
The fiscal year marked another year of strong outperformance for the Group and it was an exhilarating period
with strong group participation and new, innovative investment ideas. More importantly,
the decision making process that went into the purchase of these securities benefited the entire group as every member
added valuable input into each equity purchase.
| |
|
| Period |
|
OUSEMG |
S&P 500 |
Difference |
| 2008 Fiscal |
|
(11.81%) |
(14.86%) |
3.04% |
| 2007 Fiscal |
|
30.71% |
18.36% |
12.35% |
| 2006 Fiscal |
|
6.91% |
6.62% |
0.29% |
| 2005 Fiscal |
|
1.11% |
4.43% |
(3.32%) |
| 2004 Fiscal |
|
39.25% |
17.07% |
22.18% |
| 2003 Fiscal |
|
0.72% |
(1.55%) |
2.27% |
| 2002 Fiscal |
|
(12.78%) |
(15.08%) |
2.30% |
| |
|
|
|
|
| 2007 Calendar |
|
22.24% |
3.53% |
18.71% |
| 2006 Calendar |
|
11.21% |
13.62% |
(2.41%) |
| 2005 Calendar |
|
1.08% |
3.00% |
(1.92%) |
| 2004 Calendar |
|
20.65% |
8.99% |
11.66% |
| 2003 Calendar |
|
36.31% |
26.38% |
9.93% |
| 2002 Calendar |
|
(21.12%) |
(24.51%) |
3.39% |
| |
|
|
|
|
| Since Inception |
|
51.29% |
8.69% |
42.61% |
|
|
|
|
| Alpha* |
3.04% |
| Annual Return |
(11.81%) |
| Standard Deviation |
4.81% |
| Sharpe Ratio |
2.38 |
| Treynor Ratio |
(0.19) |
|
|
|
|
| Alpha* |
16.79% |
| Annual Return |
11.56% |
| Standard Deviation |
4.98 |
| Sharpe Ratio |
1.01 |
| Treynor Ratio |
0.06 |
|
|
|
|
|
| Alpha* |
35.65% |
| Beta |
0.82 |
| Mean Annual Return |
18.32% |
| R-squared |
0.46 |
| Standard Deviation |
4.48% |
| Sharpe Ratio |
5.92 |
| Treynor Ratio |
0.32 |
|
|
|
|
| Russell 3000 Growth Index |
21.26% |
| McDermott International |
9.51% |
| Omnicom Group |
9.04% |
| Number of Positions |
11 |
|
|
|
|
|
|
Attribution Analysis vs. S&P 500 Index**
|
Selection
43.63%
|
Allocation
(0.17%)
|
Interaction
(0.85%)
|
Active Manager Effect
43.46%
|
Alpha
42.61%
|
|
|
|
|
Attribution Analysis vs. Russell 3000 Growth Index**
|
Selection
26.92%
|
Allocation
(0.51%)
|
Interaction
(0.52%)
|
Active Manager Effect
26.42%
|
Alpha
25.90%
|
|
* Compared to the S&P 500 Index
|
|
** Since Inception, March 2002
|
|
|
