PftiE IK D Return Dttuui petition     PACE Publi ?h"?il Piffeierue Mztinijed Felum -1IjUv V, -1 L U7 \. OIj[i Beiiiluridih Return r:: *■ ]^2 \ iihri SftWfiellJUl 1 it % 1 21 % Blip EifiprtPd Mi-fnp R^tui-i-i II I ITS.   E:i H|itniriril -itrv 1 11 %   MrithHtTitiiirni 1 r\   stULl1 iuluLllUII 1 T4-y.   F^rtnt i niittih II c4 '^.   Irdjnn .t 1. r irtr. 0 -u . U.4 I LI LIU J OOU J   SrtlueR^tUIIH 1 -1 i fc = F.li till UnrtlllH n CU ! spe-imc Return inintiihi ii i "s > Ciiiitiibuuiistn Specific Return (All entries in %) Top W free isstpsgz of report far Tap and Bo!H>m3[]J ^ Slock Corrtribution Active Wgt   QCOM QLLALCOMvlINC P.43 1.10 HET HURRAHS ENTERTAINMENT INC 0.34 1 99 JPM jp morgan chase a eo 0 20 -0 60 FRE FREDDIEMAC 0 20 2 03 BLS BELLSOUTH CORP 013 -0 57 ENR EMERGES* HOLDINGS IMC 013 0 95 VCI VAL^SSIS COMMUNICATIONS INC 0.1 5 0.99 KRB MBNACOPP 014 1 15 CL COLGATE-PALM OLIVE CO 013 1 21 ecu CLEAR CHANNEL COMMUNICATIONS 012 0 44 Bottom   Stock Contribution Active W TSG SABRE HOLDINGS CORP -022 0,62 T ATST CORP -0 22 -0 50 PEP PEPSICO INC -0.21 1.62 UVN UNIV1SI0N COIiMJNICATIONS-A -0.19 0.S6 WYE WYETH -016 0 47 CD CENDANT CORP -0.15 120 HOT STARWOOD HOTELS 8 PESOPTS -0.14 0.T6 L LIBERTY MEDIACOHP-A -0.14 0.T6 ABK AiJBAC FINANCIAL GROUP INC -013 18B TMPW IMP WORLDWIDE INC -012 0 29   Contributors to Active Return by Sector (All entries in %               Avg         AVg       Contrib Act Exp. HR IR   Contrib ^ct Exp. HR IR Utilities 0.40 -2 37 57 03 13 62 Industrials 0 08 -0 38 53.52 26 95 Telecommunication; 0.35 -1 79 55 47 14 28 Consumer MoneyclieaIs -0 06 222 53.13 -4 02 Consumer cyclic els 0.22 -1.11 55. OS 39.26 Technology -0.08 0.49 52.81 -5.64 Energy 0.21 -OSS 50 DO 2618 Financial -0 06 -165 51.56 -2 27 Transport 0.17 -1.44 54.17 16.42 Cammerciel services -0.28 1.21 4T.92 -27.93 Health care 014 -2.81 50 39 7 33 Consumer services -0 91 8 42 47.66 -22 72 Basic Materials 0.14 -U71 52 73 15 35           Daily Return Attribution Previous Month Attribution Previous Quarter Attribution Previous Year Attribution Cuntiibiitois to Active Return by Style (All entries in'.   Top 5 Contrib Btp In SD HR IR Diviaena-1o-PriGe 017 -0.19 59 38 4 20 Price Momentum 0.13 0.04 50.94 13 03 Earnings-to-Price 0.10 -0.11 5156 3 29 Boot-to-Price 0 06 -0.09 54 69 3 01 Debt Sensrtivity 0 04 0.10 5313 2 25   Bottom 5 A>g Active lontrib &p in SD HR IR Volatility -0.12 0.03 43.75 -6 94 Market Cap -0 06 01T 46 SB -1.53 FX Sensitivity -0 03 0Q4 45 31 -4.13 Earnings Variability -□.02 0.03 50.00 -6 31 Liquidity -0.02 -0.01 54.69 -4 73 Contributors to Active Return by Industry (Ail entries in'.   T"|)5 Contrib Avg. .Aai e HR IR Banks 0 51 -3 73 59 36 6 5B Electric utilities 036 -1 96 60 94 717 Telephones 0.30 -1.32 57.81 8.59 Energy Reserves & 0 20 -0 31 50 00 16 75 Chemicals 017 -0 84 60 94 9 42   Bottom 5 Contrib ""o am e HR IR Financial services -0S3 3 71 39 06 -10 02 Hotels -0.4S 3.68 39.06 -5.60 Cam outer software -0 37 1 76 39 06 -1013 Media -0 28 2 59 50 00 -3 58 Information services -0.25 1.05 45.31 -9.74 FIGURE 19.1 PACK Factor Attrihntinn