Schulenberg & Associates, Inc.: Schulenberg Stock Strategist(TM), v. 1.20 Copyright(c) 2002-7, All Rights Reserved M U T U A L F U N D S R E P O R T Schulenberg Stock Strategist (SSS) --------------------------------------------- This is one of fourteen major Reports that form our daily Strategist Newsletter. The complete set of Reports consists of: Report 1: forecast.htm The daily Forecast (also emailed) Report 2: PREDTABL.TXT The Prediction Table (for QQQQ, SMH, SPY, and DIA) Report 3: MKTSTATS.TXT The Market Timing Report (contains ALL signals) Report 4: SIGNALS.TXT The Grail System (short-term) Signals Report Report 5: PORTSTAT.TXT The Grail System Portfolios Report (50 portfolios) Report 6: PORTCORR.TXT The Grail System Portfolios 'Neutralization' Report Report 7: MUTFUNDS.txt The Mutual Fund Performance Report Report 8: NEWPICKS.TXT The Preprocessor "Portfolios and Picks" Report Report 9: SECTION2.TXT The Intermediate-Term Signals Report Report 10: VARPORTA.TXT The Intermediate-Term Portfolios Reports (A-G) Report 11: diffhist.htm The Differential Signal (Back-Tested History) Report Report 12: voteqqqq.htm The QQQQ Voted Signal Report (Preprocessor Signals) Report 13: portperf.htm The PORTSTAT Portfolio Performance Report (Back-Tested) Report 14: portacts.htm The 'Actual' Portfolio Performance Report (5/4/07-...) This report provides performance information on mutual funds belonging to 21 different fund families. The emphasis is on 'stock' funds since that is where the best performance will be found WHEN our mutual fund timing indicator is in the 'buy' or 'hold' state. Please let us know which funds and fund families that you would like to see added to our Report. AIM Funds AllianceBernstein Funds American Funds American Century Funds BlackRock Funds Delaware Funds Dreyfus Funds Fidelity Funds General Electric Funds Ing Funds Janus Funds Morgan Stanley Funds Oppenheimer Funds Profunds Putnam Funds T. Rowe Price Funds Rydex Funds SunAmerica Funds USAA Funds Vanguard Funds Van Kampen Funds *** New (2/8/07). The overall accuracy of the "Decompositions" used to estimate the current holdings of a mutual fund have been increased by a simple expedient: If the R**2 (correlation coefficient) for the decomposition into a weighted linear sum of 5 ETFs is too low, then the calculation is redone using all of the Grail System signals (1,000 stocks and ETFs) in addition to the original set of ETFs. This means that 5 'basis' equities are used that are drawn from a set of over 1,000 equities ... rather than the 175 standard 'basis' ETFs. Now, this doesn't necessarily mean that the decomposition is more 'correct', even though its R**2 (correlation coefficient) is substantially greater, but at least it gives us a reasonable basis for assigning a current SCORE (ranking) for the mutual fund. Since we utilize a combination of SCORE plus 3-day percentage gain/loss when we perform mutual fund portfolio rebalancing, it doesn't matter as much if we are absolutely correct or not ... that is, since we are always choosing a set of funds from amongst the recent top performers, whether or not the SCORE is really correct or not becomes less significant. In any event, the uncertainty in the SCORE value will generally be small enough that the bottom-line Recommendation (Buy/Sell/Hold) is unlikely to shift. *** New (2/7/07). The SCORE values (and consequently the REC=Recommendation Field) are now based not solely on our intermediate-term signals (Star System), but also on our Grail System signals -- provided that the component stock/ETF in the decomposition is actually modeled within our Grail (short-term) System. This change makes our SCORE values more accurate in the short-term, and thus more reactive to current market conditions. *** New (2/6/07). In Section 1 for each fund family we now show the Inception Date (calculated by looking at the data) for each fund IF the fund was started after 8/16/02. The Inception Date (IN:mm/dd/yy) is not shown if it was earlier than 8/16/02. More importantly, the percentage gains for all funds are now normalized by calculating an "annualized" percentage gain. This means that funds that have been recently created are directly comparable with the older funds. *** New (2/6/07). In the 3-day performance section (Section 2) for each fund family, those funds that are currently in the SELL state (S or S?) are prefixed with '***' to emphasize that the fund should probably be swapped out for a better fund (one in the HOLD (H) or BUY (B) state). Remember that if you cannot find funds in the HOLD (H) or BUY (B) state, then you should probably be in cash (money market fund). *** New (2/6/07). A new fund 'family', MISC01, has been added to our report so that specific fund needs of our subscribers can be satisfied. We are planning on developing and distributing a new program, however, that users will be able to run on their own PCs, and that will allow them to generate 'subsets' of the MUTFUNDS report that consist exclusively of the funds that they are personally interested in. *** New (10/29/06). A SCORE value has been added to each Fund shown in Section 2 (Performance over the past 3 Trading Days). These SCORE values are based on the MUTCOMPS.TXT report (not part of the daily report set), and they represent the aggregate buy/hold/sell (intermediate-term) signals of the 5 different ETFs into which a Fund has been 'decomposed'. By finding a weighted sum of 5 ETFs which approximates the recent price history of the mutual fund, and then generating an aggregate Score for the combination, we effectively arrive at a buy/hold/sell signal for the mutual fund as a whole. The SCORE varies from 0 to 10, with a 0 representing a hard 'sell', a 5 representing an average 'hold' value, and a 10 representing a strong 'buy'. *** New (11/1/06). SCOREs are now suppressed for all 'shorting' funds: Bear, Short, Ursa, and INVERSE. Clearly, it is mathematical nonsense to try to find a set of 5 Long ETFs that will mirror the recent price history of shorted equities. Also, SCOREs are suppressed for any mutual fund that had a very poor 'fit' (low R**2 correlation coefficient) in the ETF Decomposition process. If the fit is poor, then it is unlikely that the set of 5 ETFs comes close to the actual composition of the mutual fund, and in this case trying to generate a 'score' is unjustified. *** New (11/2/06). American Funds have been added. *** New (11/3/06). ING Funds have been added. *** New (11/3/06). Section 3 has been eliminated. Mutual fund recommendations are now contained strictly within Section 2, which shows the performance of each mutual fund (%gain) over the past 3 trading days. The REC field has been added next to the SCORE field, and it will contain an 'S', 'H', or 'B' code depending on whether the mutual fund is considered a 'sell', a 'hold', or a 'buy'. If the ETF decomposition has a lower accuracy (a low R**2 value), then a question mark (?) will be suffixed to the Recommendation, producing, for example, S?, H?, and B? value. *** New (11/3/06). The current value of the Mutual Fund Timing Indicator (MFTI) is now shown at the beginning of the Report. This indicator has the states: 'buy', 'hold', and 'SELL', and for each state the report gives a recommendation about actions that should be taken for mutual fund portfolios. Also, the MFTI value is used for the BEAR funds (SHORT/BEAR/URSA/INVERSE) to FORCE a reasonable Recommendation (REC) value -- since an ETF decompositon and Score is not possible for such funds. *** New (11/6/06). SunAmerica Funds have been added. *** New (11/7/06). Many new funds have been added for GE Funds, Delaware, Vanguard, Fidelity, Oppenheimer, BlackRock, Rydex and Profunds. *** New (11/7/06). The REC field is now shown for all "long" funds, but a trailing question mark (?) is applied if the correlation coefficient (R**2) is less than 0.9800. *** New (11/8/06). Many new funds have been added for Putnam. *** New (11/9/06). Many new funds have been added for American Century, Morgan Stanley, Janus, Dreyfus, T. Rowe Price, USAA, and Van Kampen. *** New (11/9/06). Special error-checking logic has been added to detect mutual fund data errors and dividends. Dividends are now fully accounted for in the historical data used to perform ETF 'decompositions'. *** New (11/10/06). Many new funds have been added for AllianceBernstein and AIM Funds. *** New (11/10/06). The Recommendation (REC) field for Short/Bear/Ursa/ Inverse funds is now forced to a 'B' (Buy) when the QQQQ Grail System signal is a 'SELL',and to an 'S' (Sell) when the QQQQ Grail System signal is a 'buy'. This is currently our 'best guess' as to the appropriate time to purchase shorting funds. Note that this is PROBABLY not the best signal to employ for non-tech Bear funds, e.g., funds that short GOLD, OIL, REAL ESTATE, or Japan. This is currently an area that we are trying to improve. *** New (11/13/06). Shorting funds are now tracked according to the status of the QQQQ Grail System timing signal. In other words, the performance (%gain) shown in Section 1 for each Fund Family assumes that the shorting (BEAR) fund was bought when the QQQQ signal was a 'sell', and sold when the QQQQ signal went back to a 'buy'. Remember, however, that many shorting funds have rather recent inception dates, and so their Section 1 performance will not be indi- cative of their long-term performance. All Shorting (BEAR) funds are now clearly marked with the tag '**BEAR**'. Mutual Fund Timing Indicator (MFTI) =================================== The %profits shown (Section 1) assume that the fund has been "timed" according to our Mutual Fund Timing Indicator. When the indicator shows a "buy", then the fund is purchased; when the indicator shows a "sell", then the fund is sold. Since these "sell" intervals are very infrequent, the best procedure is for the investor to switch from the stock mutual fund to a Money Market fund within the same fund family. Note that these percentage gains have been "annualized" by taking into account the number of market days for which the mutual fund has existed. The start date for performance calculations is either the inception date (shown as (IN:mm/dd/yy)) or 8/16/02, whichever is the earlier date. The percentage gain is then annualized so that all funds are compared on a level playing field and are thus directly comparable. For 'shorting' mutual funds (SHORT/BEAR/URSA/INVERSE) the QQQQ Grail System timing signal is used to set the Recommendation (REC) field as follows: QQQQ REC (for BEAR Funds) ---- -------------------- SELL B (Buy) buy S (Sell) In other words, shorting mutual funds work oppositely to normal Long funds. Also, there is no SCORE value for shorting funds since it makes no sense to perform a 'decomposition' (that is, approximating a fund by a weighted sum of 5 Long ETFs). Instead, the SCORE field will contain the word 'BEAR' to indicate that it is a shorting funds. In Section 1 (for each Fund Family), the long-term performance of a **BEAR** fund is computed by assuming that buys and sells work 'oppositely' to the QQQQ signal. In other words, BEAR funds are bought when QQQQ goes to a 'sell', and sold when QQQQ goes to a 'buy'. Mutual Fund 'SCORES' ==================== The SCORE value, which is shown in Section 2 for each fund family, is calculated by examining the recent (45-day) price history of a given fund in an attempt to find a weighted sum of 5 different ETFs that would have provided exactly the same price profile. In other words, by 'decomposing' a mutual fund into 5 different ETFs (basis vectors) we are attempting to 'guesstimate' the current holdings of the mutual fund. Then, once we have a set of ETFs and their percentages, we can look at our intermediate-term (buy/sell/hold) signals for those ETFs, and (when available) our short-term (buy/sell) Grail System signals, and calculate a Score (signal) for the fund. We use a value of 0 for an ETF in the 'sell' state, a value of 1 for an ETF in the 'hold' state, and a value of 2 for an ETF in the 'buy' state. This means that mutual fund 'scores' can vary between 0 and 10, with 0 being a solid 'sell' and 10 being a strong 'buy'. We generally DO NOT include bond funds in this Report for two reasons: (1) they do not fit into this 'decomposition' (scoring) scheme since they are 100% bonds (no stocks), and (2) when our mutual fund timing indicator is in the 'buy' or 'hold' state, then stock mutual funds should far outperform bond funds. Shorting funds (Short/Bear/Ursa/Inverse) are listed, but their Scores are replaced by the 'BEAR' symbol to reflect the fact that they likewise do not 'decompose' into a set of "long" ETFs (this would be mathematical nonsense). The '????' symbol will be found in the SCORE column if the mutual fund had an inaccurate 'decomposition', and there really is no way to know the current holdings of the fund. Note that for 'shorting' (sHORT/BEAR/URSA/INVERSE) funds there is no valid SCORE value, and thus it is shown as 'BEAR'. The Recommendation (REC), however, is shown (B/S) -- and this is based strictly on the Grail System QQQQQ timing signal. If QQQQ is a 'buy', then obviously the recommendation for shorting funds should be a 'SELL'; if QQQQ is a 'SELL', then shorting funds should be bought ('BUY'). Note, however, that this strategy is NOT the ideal one for BEAR funds that short non-tech entities like OIL, GOLD, REAL ESTATE, and specific market areas like Japan. The development of correct signals for such funds will require a slightly different solution, and we are currently working on it. Report Sections =============== Within each fund family the mutual funds are listed twice. The first listing (Section 1) shows the annualized percentage gain that would have been made on that fund if it had been managed (according to our timing algorithm) since 8/16/02 -- or the inception date shown (IN:mm/dd/yy). The second listing (Section 2) shows how each of the funds have performed over the past 3 trading days. Based on extensive analysis, it turns out that the 3 trading day period gives optimal results. Section 2 is the basis for our "recommended" mutual fund rebalancing approach. Recommended Rebalancing Approach ================================ Whenever it is time to "buy" mutual funds then a (diversified) set of stock mutual funds should be selected from the top of the 3-day list. Even during an extended "buy" period it is advisable to rebalance the mutual fund portfolio by examining the recent performance of the currently held funds. We recommend portfolio rebalancing monthly, if possible. The "recommended" rebalancing approach is to consider the 8 funds at the top of the 3-day list (Section 2) -- and then to pick the 4 funds with the highest SCORE values. We have defined Recommendation codes (REC) based on the SCORE value: 0.0 <= SCORE < 5.0 S (SELL) 5.0 <= SCORE < 7.0 H (HOLD) 7.0 <= SCORE <= 10.0 B (BUY) If the REC field (and SCORE field) has a question mark suffix (e.g., H?), then this is due to the fact that the 'decomposition' had a lower-than-average correlation coefficient ... and thus that both the SCORE and the recommendation are somewhat uncertain. A question mark (?) suffix will often be generated if the fund is dramatically increasing or decreasing its cash component -- for example, trying to protect assets when the market is turning downward. Such an action decreases the accuracy of our decomposition because the amount of money invested in stocks will change substantially during our analysis period -- throwing off our calculations. By our ETF decomposition methodology, a SCORE value of 5.0 would mean that the average rating is an 'H' (Hold). Anything less than this suggests that the fund should be sold. At a SCORE value of 7 or greater, a 'B' (Buy) is likely to be profitable. By limiting ourselves to examining the top 8 contenders (highest-performing funds over the past 3 trading days), we are reducing the risk of utilizing SCOREs that may be somewhat in error. This is hopefully a win-win situation: we will obtain a mixture of funds that will perform well because they have performed well over the past 3 days -- or -- we will obtain a mixture of funds that will perform well because they have higher SCOREs. *** Note that the names of mutual funds in the 'SELL' (S) state are indented in Section 2, and prefixed by three asterisks (***), so that users do not inadvertently pick one of these funds for investment. Mutual Fund Symbols =================== A given mutual fund is packaged into a number of different pricing categories depending on how the 'load' is charged: A, B, C, I, etc. This practice means that there may be two or more different ticker symbols for the same mutual fund, and in our reports we pick just one representative symbol ... sometimes an 'A', sometimes a 'B', sometimes an 'I', ... Since all of these symbols represent the same fund, we are not too selective as to which one we utilize in our reports. You should locate mutual funds by their Fund Family, and their description, and then select the symbol based on how the fees are to be paid. Signal Accuracy =============== The overall accuracy of our individual mutual fund signals is limited by two important factors: (1) the decomposition of a fund into 'equivalent' ETFs is an artificial, and imperfect, process, and (2) the intermediate-term buy/ sell/hold signals (and short-term buy/sell signals) that we use for our ETFs are themselves limited by the normal difficulty in predicting the future trend of equities. Why is the 'ETF decomposition' imperfect? There are a number of reasons: (1) A mutual fund may have hundreds of holdings, and only the mutual fund managers know what the current composition of a fund is -- and they're not telling. It is a considerable simplification to assume that we can model the exact behavior of a fund by considering a weighted sum of only 5 ETFs. Not only is this a very limited number of variables, but it is unlikely that the component stocks within an ETF will match closely with the kinds of stock mixtures to be found in the fund. (2) We utilize a regression period of 45 market days. We have found this to be an optimal number; if it were any shorter then our accuracies would be reduced by having an insufficient sample period; if it were any longer then we would be impacted by the ever-changing composition of a fund (continuous churning within a fund creates a 'moving target' for us). (3) In determining the exact composition of a fund, we may have several ETFs (of quite different natures) that just happen to have almost identical price profiles over the past 45 trading days. As a result, the mathematical process involved in the 'decomposition' may select the 'wrong' ETF ... giving us, for example, an Internet ETF within a Bond Fund. We are improving the decomposition accuracy all of the time, but it will never be perfect. However, imperfect or not it is probably the BEST that can ever be done ... and even if we get decompositions that are obviously wrong (and even amusing), it is likely that our resultant Score will nonetheless be 'reasonable'. NOTES ===== Note 1: Normal stock mutual funds should be held ONLY when our Mutual Fund Timing Indicator is a 'buy' or a 'hold', and also ONLY when their individual recommendation (REC) is a 'buy' or a 'hold'. If any of these conditions are not met, then the fund should be sold. Note 2: If you are rebalancing your mutual fund portfolio monthly (recommended), then diversification is of less importance. Otherwise, when following the rebalancing method described above, an attempt should be made to avoid picking too many funds in the same category (all international, all 'tech', etc.) Note 3: If the R**2 value (for the Least Squares Curve Fit) is less than 0.9800, then the SCORE and REC fields will have an appended question mark (?). In these cases you should consider the SCORE/REC information to be untrustworthy, and give greater weight to the long-term performance (shown in Section 1), and the recent 3-day percentage gains (shown in Section 2). Note 4: The SCORE field will also be suppressed ('BEAR') for shorting funds (Bear/Ursa/Inverse) because it makes no mathematical sense to try to approximate shorted equities by using "long" ETFs. ******************************************************************************** Mutual Fund Timing Indicator: SELL *** When the Mutual Fund Timing Indicator is a "SELL", retain only money market or bond funds. ******************************************************************************** Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: AIM Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- AIM ABCFX 46.68% AIM China B (IN:04/13/06) AIM GTDBX 35.18% AIM Developing Markets B AIM IGDBX 33.79% AIM Gold & Precious Metals B AIM IEGBX 26.52% AIM International Small Company B AIM ESMBX 25.76% AIM European Small Company B AIM ASIBX 23.23% AIM Asia Pacific Growth B AIM IENBX 21.58% AIM Energy B AIM IDYBX 20.50% AIM Dynamics B AIM AEDBX 20.17% AIM European Growth B AIM AIEVX 20.10% AIM International Growth I AIM AGABX 16.69% AIM Global Aggressive Growth B AIM ITYBX 16.44% AIM Technology B AIM IBUTX 16.40% AIM Utilities B AIM AGGBX 16.00% AIM Global Growth B AIM MCOVX 15.70% AIM Opportunities II B AIM IBVBX 14.03% AIM Intl Core Equity B AIM INABX 13.94% AIM International Allocation B (IN:11/09/05) AIM MDCBX 13.33% AIM Mid Cap Basic Value B AIM AGWBX 13.25% AIM Select Equity B AIM CSTBX 12.96% AIM Constellation B AIM LCGBX 12.53% AIM Large Cap Growth B AIM IBMSX 12.50% AIM Multi-Sector B (IN:09/10/02) AIM GTSBX 12.17% AIM Small Cap Growth B AIM BCHTX 11.95% AIM Charter B AIM LCBBX 11.85% AIM Large Cap Basic Value B AIM SMEBX 11.21% AIM Small Cap Equity B AIM ISPIX 10.89% AIM S&P 500 Index Inv AIM AWSBX 10.86% AIM Global Value B AIM BSMMX 10.33% AIM Summit B (IN:11/11/05) AIM GTVBX 10.28% AIM Basic Value B AIM SCPBX 10.22% AIM Opportunities I B AIM AAEBX 9.65% AIM Growth Allocation B (IN:06/15/04) AIM ACDBX 9.10% AIM Capital Development B AIM BBLBX 9.04% AIM Basic Balanced B AIM ILSBX 9.01% AIM Leisure B AIM LCPBX 8.81% AIM Opportunities III B AIM AMBGX 8.51% AIM Moderate Growth Allocation B (IN:05/11/05) AIM GNDBX 8.36% AIM Global Equity B AIM BGREX 7.98% AIM Global Real Estate B (IN:05/11/05) AIM ATKBX 7.97% AIM Trimark B (IN:11/19/03) AIM ATDBX 7.30% AIM Trimark Endeavor B (IN:11/19/03) AIM ATIBX 7.11% AIM Trimark Small Companies B (IN:11/26/03) AIM LCEDX 6.84% AIM Diversified Dividend B AIM IGHBX 6.00% AIM Advantage Health Sci B AIM BASGX 5.77% AIM Structured Growth B (IN:04/13/06) AIM AMKBX 5.44% AIM Moderate Allocation B (IN:06/15/04) AIM AARBX 5.15% AIM Real Estate B AIM SBCUX 3.17% Aim Structured Core B (IN:04/13/06) AIM GTABX 3.11% AIM Mid Cap Core Equity B AIM GTHBX 2.89% AIM Global Health Care B AIM CMBAX 2.87% AIM Moderately Conservative Alloc B (IN:05/11/05) AIM ASBVX 1.60% AIM Structured Value B (IN:04/13/06) AIM BLIAX 1.05% AIM Income Allocation B (IN:11/09/05) AIM ACNBX 0.78% AIM Conservative Allocation B (IN:06/15/04) AIM IFSBX -1.35% AIM Financial Services B AIM AJFBX -1.84% AIM Japan B (IN:04/13/06) *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- AIM IFSBX 15.32% 5.90 H AIM Financial Services B AIM LCBBX 8.27% 5.87 H AIM Large Cap Basic Value B AIM GTVBX 8.15% 5.48 H AIM Basic Value B AIM AARBX 7.53% 8.46 B AIM Real Estate B AIM MDCBX 7.20% 4.25? S? *** AIM Mid Cap Basic Value B AIM BBLBX 4.80% 5.54 H AIM Basic Balanced B AIM ATDBX 4.74% 4.98? S? *** AIM Trimark Endeavor B AIM SMEBX 4.36% 3.55 S *** AIM Small Cap Equity B AIM ASBVX 4.28% 4.42 S *** AIM Structured Value B AIM GTSBX 4.28% 3.38 S *** AIM Small Cap Growth B AIM LCEDX 4.16% 5.88 H AIM Diversified Dividend B AIM SBCUX 3.93% 5.22 H Aim Structured Core B AIM IDYBX 3.90% 4.87 S *** AIM Dynamics B AIM ACDBX 3.88% 4.88 S *** AIM Capital Development B AIM BGREX 3.85% 4.79? S? *** AIM Global Real Estate B AIM ISPIX 3.71% 3.93 S *** AIM S&P 500 Index Inv AIM IBMSX 3.60% 3.66 S *** AIM Multi-Sector B AIM ATKBX 3.44% 5.83? H? AIM Trimark B AIM AAEBX 3.31% 5.62 H AIM Growth Allocation B AIM ILSBX 3.30% 4.50 S *** AIM Leisure B AIM BASGX 3.10% 5.11 H AIM Structured Growth B AIM AMBGX 2.89% 3.72 S *** AIM Moderate Growth Allocation B AIM ITYBX 2.86% 3.09 S *** AIM Technology B AIM GTHBX 2.64% 3.59 S *** AIM Global Health Care B AIM AGWBX 2.22% 3.10 S *** AIM Select Equity B AIM ATIBX 2.21% 4.15? S? *** AIM Trimark Small Companies B AIM BSMMX 2.10% 3.82 S *** AIM Summit B AIM CSTBX 2.10% 3.88 S *** AIM Constellation B AIM GNDBX 1.95% 4.80 S *** AIM Global Equity B AIM BCHTX 1.93% 4.97 S *** AIM Charter B AIM AMKBX 1.90% 4.35 S *** AIM Moderate Allocation B AIM AJFBX 1.84% 3.38? S? *** AIM Japan B AIM GTABX 1.83% 5.17 H AIM Mid Cap Core Equity B AIM AGABX 1.73% 4.40 S *** AIM Global Aggressive Growth B AIM LCGBX 1.62% 2.36 S *** AIM Large Cap Growth B AIM AGGBX 1.48% 5.75 H AIM Global Growth B AIM IBVBX 1.48% 6.46 H AIM Intl Core Equity B AIM CMBAX 1.43% 4.58 S *** AIM Moderately Conservative Alloc B AIM AIEVX 1.35% 3.57 S *** AIM International Growth I AIM BLIAX 1.18% 5.69 H AIM Income Allocation B AIM AEDBX 0.95% 4.87 S *** AIM European Growth B AIM AWSBX 0.92% 2.79 S *** AIM Global Value B AIM INABX 0.83% 3.70 S *** AIM International Allocation B AIM ACNBX 0.69% 3.44 S *** AIM Conservative Allocation B AIM ASIBX 0.18% 2.10 S *** AIM Asia Pacific Growth B AIM LCPBX 0.00% ???? ?? AIM Opportunities III B AIM SCPBX 0.00% ???? ?? AIM Opportunities I B AIM IGHBX 0.00% ???? ?? AIM Advantage Health Sci B AIM MCOVX 0.00% ???? ?? AIM Opportunities II B AIM IBUTX -0.56% 4.19 S *** AIM Utilities B AIM ESMBX -0.89% 5.03? H? AIM European Small Company B AIM IEGBX -1.13% 3.63 S *** AIM International Small Company B AIM GTDBX -1.13% 4.53 S *** AIM Developing Markets B AIM ABCFX -1.52% 2.19 S *** AIM China B AIM IENBX -2.61% 4.49 S *** AIM Energy B AIM IGDBX -12.30% 7.36 B AIM Gold & Precious Metals B Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: AllianceBernstein Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- ALLIBERN GCHBX 28.61% AllianceBernstein Great China '97 B ALLIBERN AWPBX 24.02% AllianceBernstein Intl Growth B ALLIBERN AIPBX 22.73% AllianceBernstein Intl Research Gr B ALLIBERN SNEMX 22.36% Bernstein Emerging Markets ALLIBERN QUABX 21.69% AllianceBernstein Small Cap Growth B ALLIBERN CHCBX 19.55% AllianceBernstein Mid-Cap Growth B ALLIBERN ABIBX 19.01% AllianceBernstein Intl Val B ALLIBERN ATEBX 18.55% AllianceBernstein Global Technology B ALLIBERN AUIBX 16.43% AllianceBernstein Utility Income B ALLIBERN SIMTX 15.85% Bernstein International Portfolio ALLIBERN AGBBX 14.67% AllianceBernstein Growth B ALLIBERN SNIVX 14.02% Bernstein Tax-Managed Intl Port ALLIBERN APGBX 12.40% AllianceBernstein Large Cap Growth B ALLIBERN CBBDX 11.28% AllianceBernstein Growth & Income B ALLIBERN ABZBX 10.65% AllianceBernstein Glb Research Growth B (IN:03/10/04) ALLIBERN ABBGX 10.58% AllianceBernstein Global Value B (IN:04/09/03) ALLIBERN ABBSX 10.27% AllianceBernstein Small-Mid Cap Value B ALLIBERN AWABX 9.89% AllianceBernstein Wealth Apprec Strat B (IN:12/15/03) ALLIBERN ABVBX 9.01% AllianceBernstein Value B ALLIBERN ATWBX 8.64% AllianceBernstein Tax-Managed Wealth B (IN:03/12/04) ALLIBERN AGIBX 7.65% AllianceBernstein Tx Mgd Bal Wlth St B ALLIBERN AIZBX 7.39% AllianceBernstein International B (IN:02/20/04) ALLIBERN AHLBX 6.74% AllianceBernstein Global Health Care B ALLIBERN ABWBX 6.31% AllianceBernstein Balance Wealth Strat B (IN:11/06/03) ALLIBERN ADGBX 6.08% AllianceBernstein Focused Growth & Inc B ALLIBERN ABBBX 5.43% AllianceBernstein BSS US Large Cap B (IN:12/03/02) ALLIBERN ABXBX 5.09% AllianceBernstein Tax-Managed Intl B (IN:02/20/04) ALLIBERN CABBX 5.06% AllianceBernstein Balanced Shares B ALLIBERN ACIBX 2.86% AllianceBernstein Tx Mgd Wlth Presv St B ALLIBERN ABPBX 2.14% AllianceBernstein Wealth Pres Strat B (IN:02/09/04) ALLIBERN AREBX 2.11% AllianceBernstein Rel Est Invmt B *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- ALLIBERN ABVBX 5.55% 2.61 S *** AllianceBernstein Value B ALLIBERN QUABX 4.60% 5.44 H AllianceBernstein Small Cap Growth B ALLIBERN ABBBX 4.21% 2.05 S *** AllianceBernstein BSS US Large Cap B ALLIBERN AGBBX 4.01% 3.79 S *** AllianceBernstein Growth B ALLIBERN AREBX 3.84% 2.10? S? *** AllianceBernstein Rel Est Invmt B ALLIBERN CHCBX 3.81% 5.11 H AllianceBernstein Mid-Cap Growth B ALLIBERN ABBGX 3.58% 4.60 S *** AllianceBernstein Global Value B ALLIBERN ATWBX 3.24% 4.76 S *** AllianceBernstein Tax-Managed Wealth B ALLIBERN ABBSX 3.24% 6.20 H AllianceBernstein Small-Mid Cap Value B ALLIBERN AWABX 3.15% 5.09 H AllianceBernstein Wealth Apprec Strat B ALLIBERN CBBDX 3.14% 0.85 S *** AllianceBernstein Growth & Income B ALLIBERN ABZBX 2.75% 4.55 S *** AllianceBernstein Glb Research Growth B ALLIBERN APGBX 2.65% 4.99 S *** AllianceBernstein Large Cap Growth B ALLIBERN AHLBX 2.57% 3.52 S *** AllianceBernstein Global Health Care B ALLIBERN ADGBX 2.50% 2.59 S *** AllianceBernstein Focused Growth & Inc B ALLIBERN ATEBX 2.40% 3.47 S *** AllianceBernstein Global Technology B ALLIBERN CABBX 2.21% 1.28 S *** AllianceBernstein Balanced Shares B ALLIBERN ABIBX 2.11% 5.21 H AllianceBernstein Intl Val B ALLIBERN ABWBX 1.80% 5.30 H AllianceBernstein Balance Wealth Strat B ALLIBERN AGIBX 1.24% 2.81 S *** AllianceBernstein Tx Mgd Bal Wlth St B ALLIBERN ABPBX 0.80% 4.08 S *** AllianceBernstein Wealth Pres Strat B ALLIBERN SNEMX 0.72% 4.23 S *** Bernstein Emerging Markets ALLIBERN ABXBX 0.72% 5.08 H AllianceBernstein Tax-Managed Intl B ALLIBERN SNIVX 0.70% 5.19 H Bernstein Tax-Managed Intl Port ALLIBERN SIMTX 0.66% 5.15 H Bernstein International Portfolio ALLIBERN AIZBX 0.62% 4.92 S *** AllianceBernstein International B ALLIBERN ACIBX 0.62% 2.31? S? *** AllianceBernstein Tx Mgd Wlth Presv St B ALLIBERN GCHBX 0.55% 1.64 S *** AllianceBernstein Great China '97 B ALLIBERN AIPBX -0.51% 3.98 S *** AllianceBernstein Intl Research Gr B ALLIBERN AUIBX -0.52% 4.83 S *** AllianceBernstein Utility Income B ALLIBERN AWPBX -0.61% 4.67 S *** AllianceBernstein Intl Growth B Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: American Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- AMERICAN NEWFX 23.33% American Funds New World A AMERICAN SMCWX 21.26% American Funds Smallcap World A AMERICAN ANEFX 18.57% American Funds New Economy A AMERICAN AEPGX 17.89% American Funds EuroPacific Gr A AMERICAN CWGIX 16.16% American Funds Capital World G/I A AMERICAN ANWPX 15.90% American Funds New Perspective A AMERICAN ANCFX 15.59% American Funds Fundamental Invs A AMERICAN AGTHX 14.87% American Funds Grth Fund of Amer A AMERICAN AMCPX 10.57% American Funds Amcap A AMERICAN CAIBX 8.40% American Funds Capital Inc Bldr A AMERICAN AWSHX 8.31% American Funds Washington Mutual A AMERICAN AIVSX 7.83% American Funds Invmt Co of Amer A AMERICAN AMRMX 7.37% American Funds American Mutual A AMERICAN ABALX 7.29% American Funds American Balanced A AMERICAN AMECX 6.80% American Funds Inc Fund of Amer A *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- AMERICAN AMCPX 5.05% 5.00 H American Funds Amcap A AMERICAN AWSHX 3.91% 4.55 S *** American Funds Washington Mutual A AMERICAN AMRMX 3.87% 3.78 S *** American Funds American Mutual A AMERICAN AIVSX 3.63% 4.36 S *** American Funds Invmt Co of Amer A AMERICAN ANEFX 3.60% 4.93 S *** American Funds New Economy A AMERICAN ABALX 2.45% 5.18 H American Funds American Balanced A AMERICAN AGTHX 2.37% 3.55 S *** American Funds Grth Fund of Amer A AMERICAN AMECX 2.18% 3.32 S *** American Funds Inc Fund of Amer A AMERICAN ANCFX 1.62% 4.86 S *** American Funds Fundamental Invs A AMERICAN CAIBX 1.29% 2.29 S *** American Funds Capital Inc Bldr A AMERICAN CWGIX 1.06% 5.46 H American Funds Capital World G/I A AMERICAN SMCWX 0.90% 3.67 S *** American Funds Smallcap World A AMERICAN ANWPX 0.85% 5.12 H American Funds New Perspective A AMERICAN AEPGX 0.85% 5.43 H American Funds EuroPacific Gr A AMERICAN NEWFX -0.11% 3.31 S *** American Funds New World A Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: American Century Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- AMERCENT BGEIX 38.20% American Century Global Gold Inv AMERCENT TWMIX 26.67% American Century Emerging Markets Inv AMERCENT TWGTX 23.98% American Century Giftrust Inv AMERCENT ATCIX 22.66% American Century Technology Inv AMERCENT TWHIX 21.45% American Century Heritage Inv AMERCENT TWCVX 20.53% American Century Vista Inv AMERCENT ANOIX 19.66% American Century New Oppor II Inv AMERCENT TWNOX 18.81% American Century New Oppor Inv AMERCENT AMVIX 18.74% American Century Veedot Inv AMERCENT AEVIX 18.37% American Century Newton (IN:09/16/03) AMERCENT ASKIX 17.25% American Century International Stock (IN:03/31/05) AMERCENT TWIEX 16.68% American Century Intl Growth Inv AMERCENT BULIX 16.64% American Century Utilities Inv AMERCENT ACFOX 16.24% American Century Legacy Foc Lg Cap Inv (IN:05/31/06) AMERCENT TWGGX 16.21% American Century Global Growth Inv AMERCENT AIOIX 15.88% American Century Intl Opport Inv AMERCENT TWEGX 14.68% American Century Intl Discovery Inv AMERCENT ASQIX 12.92% American Century Small Company Inv AMERCENT TWCGX 12.50% American Century Growth Inv AMERCENT ACMNX 12.13% American Century Legacy Multi Cap Inv (IN:05/31/06) AMERCENT AOVIX 11.88% American Century One Choice: Very Agg (IN:09/30/04) AMERCENT ACIVX 11.40% American Century Equity Index Inv AMERCENT BEQGX 11.24% American Century Equity Growth Inv AMERCENT TWCIX 10.89% American Century Select Inv AMERCENT ALVIX 10.58% American Century Large Co Val Inv AMERCENT ACTIX 10.32% American Century Capital Val Inv AMERCENT AOGIX 9.67% American Century One Choice: Agg (IN:09/30/04) AMERCENT ACGOX 9.58% American Century Legacy Lg Cap Inv (IN:05/31/06) AMERCENT AFDIX 8.91% American Century Fundamental Equity Inv (IN:07/29/05) AMERCENT TWSAX 8.87% American Century Strat Alloc: Agg Inv AMERCENT BIGRX 8.75% American Century Income & Growth Inv AMERCENT AOMIX 6.83% American Century One Choice: Mod (IN:09/30/04) AMERCENT ALSIX 6.76% American Century Life Sciences Inv AMERCENT TWSMX 6.36% American Century Strat Alloc: Mod Inv AMERCENT ADSIX 6.26% American Century Disciplined Growth Inv (IN:09/30/05) AMERCENT TWBIX 4.88% American Century Balanced Inv AMERCENT TWCUX 4.80% American Century Ultra Inv AMERCENT AFSIX 4.32% American Century Focused Growth Inv (IN:02/28/05) AMERCENT ACLIX 4.22% American Century Capital Growth Inv (IN:07/29/05) AMERCENT TWEIX 3.77% American Century Equity Income Inv AMERCENT ASVIX 3.44% American Century Small Cap Value Inv AMERCENT AOCIX 3.28% American Century One Choice: Con (IN:09/30/04) AMERCENT TWSCX 3.18% American Century Strat Alloc: Con Inv AMERCENT REACX 2.02% American Century Real Estate Inv AMERCENT TWVLX 1.93% American Century Value Inv AMERCENT ACMVX 1.15% American Century Mid Cap Value Inv (IN:03/31/04) AMERCENT AONIX 0.98% American Century One Choice: Very Con (IN:09/30/04) AMERCENT ACOVX -0.34% American Century Mason St Mid Cap Gr Inv (IN:04/04/06) AMERCENT ACWVX -6.69% American Century Mason St Sm Cap Gr Inv (IN:04/04/06) AMERCENT ACEVX -11.43% American Century Intl Value Inv (IN:04/04/06) *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- AMERCENT REACX 7.76% 7.23 B American Century Real Estate Inv AMERCENT ACTIX 5.45% 5.52 H American Century Capital Val Inv AMERCENT ALVIX 4.95% 5.15 H American Century Large Co Val Inv AMERCENT ACOVX 4.09% 4.00 S *** American Century Mason St Mid Cap Gr Inv AMERCENT TWVLX 3.94% 4.31 S *** American Century Value Inv AMERCENT AFDIX 3.90% 5.26 H American Century Fundamental Equity Inv AMERCENT ACIVX 3.73% 3.69 S *** American Century Equity Index Inv AMERCENT TWNOX 3.70% 4.62 S *** American Century New Oppor Inv AMERCENT ANOIX 3.69% 4.68 S *** American Century New Oppor II Inv AMERCENT ACWVX 3.57% 1.74 S *** American Century Mason St Sm Cap Gr Inv AMERCENT ALSIX 3.45% 4.31 S *** American Century Life Sciences Inv AMERCENT ASQIX 3.34% 5.28 H American Century Small Company Inv AMERCENT BEQGX 3.22% 6.33 H American Century Equity Growth Inv AMERCENT ASVIX 3.10% 5.52 H American Century Small Cap Value Inv AMERCENT ACMVX 3.00% 6.06 H American Century Mid Cap Value Inv AMERCENT BIGRX 2.94% 4.21 S *** American Century Income & Growth Inv AMERCENT ATCIX 2.84% 4.58 S *** American Century Technology Inv AMERCENT TWCGX 2.80% 6.09 H American Century Growth Inv AMERCENT ACLIX 2.77% 3.83 S *** American Century Capital Growth Inv AMERCENT TWCIX 2.70% 5.32 H American Century Select Inv AMERCENT TWCUX 2.68% 5.08 H American Century Ultra Inv AMERCENT AOVIX 2.58% 5.01 H American Century One Choice: Very Agg AMERCENT TWCVX 2.52% 0.99 S *** American Century Vista Inv AMERCENT TWEIX 2.51% 3.80 S *** American Century Equity Income Inv AMERCENT AFSIX 2.40% 6.11 H American Century Focused Growth Inv AMERCENT ADSIX 2.39% 5.73 H American Century Disciplined Growth Inv AMERCENT AOGIX 2.10% 6.56 H American Century One Choice: Agg AMERCENT TWHIX 2.09% 3.99 S *** American Century Heritage Inv AMERCENT TWGTX 2.07% 3.98 S *** American Century Giftrust Inv AMERCENT TWSAX 2.06% 4.10 S *** American Century Strat Alloc: Agg Inv AMERCENT AOMIX 1.79% 6.22 H American Century One Choice: Mod AMERCENT ACEVX 1.50% 5.83 H American Century Intl Value Inv AMERCENT AMVIX 1.43% 4.20 S *** American Century Veedot Inv AMERCENT AEVIX 1.37% 4.06 S *** American Century Newton AMERCENT AOCIX 1.36% 6.37 H American Century One Choice: Con AMERCENT TWBIX 1.27% 7.54 B American Century Balanced Inv AMERCENT TWSMX 1.11% 4.41 S *** American Century Strat Alloc: Mod Inv AMERCENT TWGGX 0.99% 6.29 H American Century Global Growth Inv AMERCENT AONIX 0.86% 7.40? B? American Century One Choice: Very Con AMERCENT ACFOX 0.82% 3.63 S *** American Century Legacy Foc Lg Cap Inv AMERCENT TWSCX 0.56% 5.79 H American Century Strat Alloc: Con Inv AMERCENT ACGOX 0.52% 6.52 H American Century Legacy Lg Cap Inv AMERCENT ACMNX 0.18% 5.57 H American Century Legacy Multi Cap Inv AMERCENT ASKIX 0.15% 4.13 S *** American Century International Stock AMERCENT TWMIX 0.11% 2.13 S *** American Century Emerging Markets Inv AMERCENT TWIEX 0.00% 5.40 H American Century Intl Growth Inv AMERCENT BULIX -0.31% 3.95 S *** American Century Utilities Inv AMERCENT TWEGX -1.49% 3.56 S *** American Century Intl Discovery Inv AMERCENT AIOIX -2.02% 3.20? S? *** American Century Intl Opport Inv AMERCENT BGEIX -13.54% 6.29 H American Century Global Gold Inv Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: BlackRock Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- BLKROCK MADCX 44.48% BlackRock Developing Captl Mkts I BLKROCK BACIX 42.20% BlackRock All-Cap Global Resources Inst (IN:02/15/05) BLKROCK MCLTX 41.82% BlackRock Latin America C BLKROCK MCGRX 29.79% Blackrock Natural Resources C BLKROCK SGLSX 28.67% BlackRock Global Resources Instl BLKROCK MAGGX 24.29% BlackRock Global Growth I BLKROCK BMCIX 23.45% BlackRock U.S. Opportunities Instl BLKROCK BISIX 22.16% BlackRock International Opp Instl BLKROCK BGSIX 21.76% BlackRock Global Sci & Tech Opp Instl BLKROCK MCGCX 20.82% BlackRock Global SmallCap C BLKROCK MCFOX 19.04% BlackRock Focus Twenty C BLKROCK MCVLX 18.41% BlackRock Global Value C BLKROCK MAIVX 18.31% BlackRock International Value I BLKROCK MCSWX 18.19% Blackrock Small Cap Growth C BLKROCK CMGIX 18.08% BlackRock Mid Cap Growth Instl BLKROCK MCGTX 17.71% BlackRock Global Technology C BLKROCK MAIIX 17.64% BlackRock International Index I BLKROCK SHSSX 17.27% BlackRock Health Sciences Ops Inst (IN:10/28/02) BLKROCK MCPCX 17.13% Blackrock Pacific C BLKROCK MCILX 17.08% BlackRock International C BLKROCK MAVCX 16.65% BlackRock Basic Value II C BLKROCK MAGUX 16.25% BlackRock Utilities & Telecomm I BLKROCK MCEGX 16.12% BlackRock Global Dynamic Equity C (IN:11/08/05) BLKROCK MADVX 14.26% BlackRock Equity Dividend I BLKROCK MALOX 14.20% BlackRock Global Allocation I BLKROCK MASKX 14.13% BlackRock Small Cap Index I BLKROCK MCBAX 13.30% BlackRock Basic Value C BLKROCK SSEGX 13.27% BlackRock Small/Mid Growth Instl (IN:11/08/02) BLKROCK MCEFX 13.22% BlackRock EuroFund C BLKROCK MCFGX 12.99% BlackRock Fundamental Growth C BLKROCK MCLVX 12.68% BlackRock Large Cap Value C BLKROCK BROIX 12.45% BlackRock Global Opportunities Inst (IN:01/26/06) BLKROCK PNEIX 12.33% BlackRock Investment Trust Instl BLKROCK SRLSX 12.31% BlackRock Legacy Instl (IN:11/08/02) BLKROCK BSQIX 11.97% BlackRock Small Cap Core Inst (IN:08/22/03) BLKROCK MCLHX 11.75% BlackRock Large Cap Growth C BLKROCK PNIEX 11.29% BlackRock Index Equity Instl BLKROCK MCPNX 11.29% BlackRock Focus Value C BLKROCK MASRX 11.20% BlackRock S&P 500 Index I BLKROCK MCLRX 10.91% BlackRock Large Cap Core C BLKROCK MCFNX 9.84% BlackRock Global Financial Svcs C BLKROCK STSEX 9.56% BlackRock Exchange Blackrock BLKROCK MCSPX 9.37% BlackRock Value Opportunities C BLKROCK MRBVX 9.18% BlackRock Basic Value R BLKROCK MCRFX 8.79% Blackrock Mid Cap Val Opportunties C BLKROCK PBAIX 6.93% BlackRock Asset Allocation Instl BLKROCK MCHCX 3.92% BlackRock Healthcare C BLKROCK MACPX 3.92% BlackRock Balanced Capital I BLKROCK CMVIX 3.79% BlackRock Mid-Cap Value Instl BLKROCK SSRCX 2.56% BlackRock Aurora Instl BLKROCK MCPUX 0.76% BlackRock Fundmtal Grth Prin Prot C (IN:11/25/02) BLKROCK MAPVX -0.74% BlackRock Basic Value Prin Pro I (IN:11/25/02) BLKROCK PNSEX -3.40% BlackRock Small Cap Value Instl BLKROCK BSEBX -10.83% BlackRock Small Cap Value BlackRock (IN:05/14/04) *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- BLKROCK MCFNX 9.09% 3.47 S *** BlackRock Global Financial Svcs C BLKROCK MCPNX 5.56% 3.94 S *** BlackRock Focus Value C BLKROCK BSEBX 5.53% 5.16? H? BlackRock Small Cap Value BlackRock BLKROCK PNSEX 5.53% 5.80 H BlackRock Small Cap Value Instl BLKROCK BSQIX 4.93% 4.49 S *** BlackRock Small Cap Core Inst BLKROCK MASKX 4.77% 4.51 S *** BlackRock Small Cap Index I BLKROCK SSRCX 4.57% 3.98 S *** BlackRock Aurora Instl BLKROCK SSEGX 4.47% 4.96 S *** BlackRock Small/Mid Growth Instl BLKROCK MCSWX 4.37% 4.68 S *** Blackrock Small Cap Growth C BLKROCK MCSPX 4.31% 3.87 S *** BlackRock Value Opportunities C BLKROCK MCBAX 4.28% 5.03 H BlackRock Basic Value C BLKROCK MRBVX 4.27% 3.51 S *** BlackRock Basic Value R BLKROCK PNIEX 4.14% 4.98 S *** BlackRock Index Equity Instl BLKROCK MASRX 4.13% 4.11 S *** BlackRock S&P 500 Index I BLKROCK MAPVX 3.62% 3.59 S *** BlackRock Basic Value Prin Pro I BLKROCK CMVIX 3.38% 4.00 S *** BlackRock Mid-Cap Value Instl BLKROCK CMGIX 3.21% 4.15 S *** BlackRock Mid Cap Growth Instl BLKROCK MCRFX 3.20% 4.47 S *** Blackrock Mid Cap Val Opportunties C BLKROCK MCFGX 3.11% 4.57 S *** BlackRock Fundamental Growth C BLKROCK SHSSX 3.09% 2.44 S *** BlackRock Health Sciences Ops Inst BLKROCK STSEX 3.08% 4.03 S *** BlackRock Exchange Blackrock BLKROCK SRLSX 3.03% 3.41 S *** BlackRock Legacy Instl BLKROCK MCLRX 2.79% 4.56 S *** BlackRock Large Cap Core C BLKROCK MACPX 2.72% 4.77 S *** BlackRock Balanced Capital I BLKROCK MCHCX 2.61% 2.79 S *** BlackRock Healthcare C BLKROCK BGSIX 2.53% 2.31 S *** BlackRock Global Sci & Tech Opp Instl BLKROCK MCFOX 2.50% 5.46 H BlackRock Focus Twenty C BLKROCK BMCIX 2.40% 4.57 S *** BlackRock U.S. Opportunities Instl BLKROCK MCGTX 2.35% 3.99 S *** BlackRock Global Technology C BLKROCK MCLVX 2.19% 5.24 H BlackRock Large Cap Value C BLKROCK MCLHX 2.17% 4.41 S *** BlackRock Large Cap Growth C BLKROCK MCPCX 1.58% 2.90 S *** Blackrock Pacific C BLKROCK MCPUX 1.38% 4.17 S *** BlackRock Fundmtal Grth Prin Prot C BLKROCK MADVX 1.36% 6.97 H BlackRock Equity Dividend I BLKROCK PBAIX 1.05% 5.39 H BlackRock Asset Allocation Instl BLKROCK MADCX 0.94% 3.27 S *** BlackRock Developing Captl Mkts I BLKROCK MAIIX 0.88% 5.54 H BlackRock International Index I BLKROCK MCILX 0.73% 5.00 S *** BlackRock International C BLKROCK MCGCX 0.43% 4.76 S *** BlackRock Global SmallCap C BLKROCK BROIX 0.35% 4.99 S *** BlackRock Global Opportunities Inst BLKROCK MAIVX 0.20% 3.43 S *** BlackRock International Value I BLKROCK MAGGX 0.19% 2.73 S *** BlackRock Global Growth I BLKROCK PNEIX 0.00% ???? ?? BlackRock Investment Trust Instl BLKROCK MAVCX 0.00% ???? ?? BlackRock Basic Value II C BLKROCK MCVLX 0.00% ???? ?? BlackRock Global Value C BLKROCK MCEGX -0.32% 2.81 S *** BlackRock Global Dynamic Equity C BLKROCK MCEFX -0.38% 4.05 S *** BlackRock EuroFund C BLKROCK MAGUX -0.41% 4.91 S *** BlackRock Utilities & Telecomm I BLKROCK MALOX -0.77% 4.01 S *** BlackRock Global Allocation I BLKROCK BISIX -1.26% 3.35 S *** BlackRock International Opp Instl BLKROCK MCLTX -2.17% 4.51 S *** BlackRock Latin America C BLKROCK SGLSX -3.21% 4.85? S? *** BlackRock Global Resources Instl BLKROCK MCGRX -3.94% 4.84 S *** Blackrock Natural Resources C BLKROCK BACIX -4.34% 4.21 S *** BlackRock All-Cap Global Resources Inst Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: Delaware Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- DELAWARE DASIX 18.35% Delaware American Services I DELAWARE VAGGX 18.18% Delaware Select Growth Instl DELAWARE DEMIX 17.76% Delaware Emerging Markets Instl DELAWARE DSCIX 16.05% Delaware Small Cap Growth Instl DELAWARE DGTIX 15.75% Delaware Trend Instl DELAWARE DPCEX 15.75% Delaware Pooled All-Cap Growth Equity DELAWARE OISGX 15.15% Delaware Optimum Small Cap Growth Instl (IN:07/23/03) DELAWARE DFDIX 14.38% Delaware Growth Opportunities Instl DELAWARE DPIEX 13.63% Delaware Pooled International Equity DELAWARE DEQIX 13.42% Delaware Intl Value Equity Instl DELAWARE OIIEX 13.22% Delaware Optimum International Eq Inst (IN:07/23/03) DELAWARE DELPX 13.01% Delaware Pooled Labor Select Intl Eq DELAWARE DPEMX 12.60% Delaware Pooled Emerging Markets DELAWARE DEUIX 11.47% Delaware U.S. Growth Instl DELAWARE DABIX 10.94% Delaware Global Value Inst DELAWARE OILGX 8.65% Delaware Optimum Large Cap Growth Instl (IN:07/23/03) DELAWARE DDVIX 8.32% Delaware Value Inst DELAWARE DPDEX 8.18% Delaware Pooled Large-Cap Value Eqty DELAWARE DSMIX 7.87% Delaware Pooled Smid-Cap Growth Eq (IN:12/09/04) DELAWARE OISVX 7.22% Delaware Optimum Small Cap Value Instl (IN:07/23/03) DELAWARE DEDIX 6.70% Delaware Large Cap Value Instl DELAWARE DEVIX 6.67% Delaware Small Cap Value Instl DELAWARE DGDIX 6.62% Delaware Large Cap Growth Instl DELAWARE OILVX 5.76% Delaware Optimum Large Cap Value Instl (IN:07/23/03) DELAWARE DCGTX 5.58% Delaware Pooled Focus Smid-Cap Gr Eq (IN:01/21/04) DELAWARE DEICX 5.52% Delaware Balanced Instl DELAWARE DPLGX 2.52% Delaware Pooled Large-Cap Growth Eqty (IN:11/04/05) DELAWARE DFFIX 1.86% Delaware Moderate Allocation I (IN:08/19/05) DELAWARE DDIIX 1.54% Delaware Dividend Income Instl (IN:10/02/03) DELAWARE DFGIX 1.01% Delaware Aggressive Allocation I (IN:08/19/05) DELAWARE DFIIX 0.23% Delaware Conservative Allocation I (IN:08/19/05) DELAWARE DCCIX -1.15% Delaware Small Cap Core I (IN:08/03/05) DELAWARE DPSGX -4.68% Delaware Pooled Small Cap Growth Eq DELAWARE DPRSX -6.83% Delaware REIT Instl DELAWARE DPRIX -6.86% Delaware Pooled Real Estate Inv Tr DELAWARE DPAGX -12.37% Delaware Pooled Mid-Cap Growth Equity DELAWARE DPRTX -19.23% Delaware Pooled Real Estate Inv Tr II *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- DELAWARE DPRTX 7.62% 8.87 B Delaware Pooled Real Estate Inv Tr II DELAWARE DPRSX 7.08% 8.80 B Delaware REIT Instl DELAWARE DPCEX 6.43% 4.62? S? *** Delaware Pooled All-Cap Growth Equity DELAWARE DASIX 6.17% 3.49 S *** Delaware American Services I DELAWARE DCGTX 5.84% 5.65? H? Delaware Pooled Focus Smid-Cap Gr Eq DELAWARE DDVIX 5.39% 4.96 S *** Delaware Value Inst DELAWARE VAGGX 5.36% 3.43? S? *** Delaware Select Growth Instl DELAWARE DPDEX 5.22% 5.00 H Delaware Pooled Large-Cap Value Eqty DELAWARE DGTIX 5.15% 3.49 S *** Delaware Trend Instl DELAWARE DPSGX 5.00% 2.93 S *** Delaware Pooled Small Cap Growth Eq DELAWARE DSCIX 4.96% 2.66 S *** Delaware Small Cap Growth Instl DELAWARE DEDIX 4.90% 2.85 S *** Delaware Large Cap Value Instl DELAWARE DSMIX 4.67% 3.56 S *** Delaware Pooled Smid-Cap Growth Eq DELAWARE DPLGX 4.57% 5.00 H Delaware Pooled Large-Cap Growth Eqty DELAWARE OILVX 4.44% 3.80 S *** Delaware Optimum Large Cap Value Instl DELAWARE DEUIX 4.42% 4.42 S *** Delaware U.S. Growth Instl DELAWARE DCCIX 4.16% 4.82 S *** Delaware Small Cap Core I DELAWARE OISVX 4.09% 4.41 S *** Delaware Optimum Small Cap Value Instl DELAWARE DPAGX 3.95% 4.42 S *** Delaware Pooled Mid-Cap Growth Equity DELAWARE OISGX 3.86% 5.00 H Delaware Optimum Small Cap Growth Instl DELAWARE DEVIX 3.83% 4.74 S *** Delaware Small Cap Value Instl DELAWARE DFDIX 3.24% 4.43 S *** Delaware Growth Opportunities Instl DELAWARE DFGIX 3.00% 4.33 S *** Delaware Aggressive Allocation I DELAWARE OILGX 2.54% 3.13 S *** Delaware Optimum Large Cap Growth Instl DELAWARE DDIIX 2.43% 3.61 S *** Delaware Dividend Income Instl DELAWARE DFFIX 2.37% 4.12 S *** Delaware Moderate Allocation I DELAWARE DEICX 2.27% 4.54 S *** Delaware Balanced Instl DELAWARE DABIX 2.11% 5.10 H Delaware Global Value Inst DELAWARE DEQIX 1.95% 6.53 H Delaware Intl Value Equity Instl DELAWARE DELPX 1.73% 3.73 S *** Delaware Pooled Labor Select Intl Eq DELAWARE DPIEX 1.68% 4.49 S *** Delaware Pooled International Equity DELAWARE DFIIX 1.35% 5.08 H Delaware Conservative Allocation I DELAWARE DPEMX 1.28% 4.53 S *** Delaware Pooled Emerging Markets DELAWARE OIIEX 1.28% 6.31 H Delaware Optimum International Eq Inst DELAWARE DEMIX 0.66% 5.65 H Delaware Emerging Markets Instl DELAWARE DGDIX 0.00% 4.16? S? *** Delaware Large Cap Growth Instl DELAWARE DPRIX 0.00% 4.34? S? *** Delaware Pooled Real Estate Inv Tr Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: Dreyfus Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- DREYFUS DSCVX 22.73% Dreyfus Small Company Value DREYFUS DIISX 18.76% Dreyfus Intl Stock Index DREYFUS DTGRX 16.44% Dreyfus Premier Technology Growth A DREYFUS DMCVX 16.28% Dreyfus Midcap Value DREYFUS DAGVX 15.88% Dreyfus Premier Strategic Value A DREYFUS DISSX 13.48% Dreyfus Small Cap Stock Index DREYFUS DPSAX 12.85% Dreyfus Premier Structured Midcap A (IN:12/18/02) DREYFUS PESPX 12.70% Dreyfus MidCap Index DREYFUS DSPIX 11.49% Dreyfus Basic S&P 500 Stock Index DREYFUS PEOPX 10.53% Dreyfus S&P 500 Index DREYFUS DLGIX 10.32% Dreyfus LifeTime Growth Inv DREYFUS DREQX 9.67% Dreyfus Growth Opportunity DREYFUS DREVX 8.23% Dreyfus DREYFUS DGRIX 7.95% Dreyfus Growth & Income DREYFUS DDSTX 7.10% Dreyfus Disciplined Stock DREYFUS DGAGX 6.55% Dreyfus Appreciation DREYFUS DRELX 4.37% Dreyfus Emerging Leaders DREYFUS DGIIX 4.14% Dreyfus LifeTime Growth & Income Inv DREYFUS DLMBX 1.10% Dreyfus Tax Managed Balanced (IN:10/27/05) DREYFUS DLIIX -0.09% Dreyfus LifeTime Income Inv *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- DREYFUS DSCVX 4.45% 5.00 S *** Dreyfus Small Company Value DREYFUS DISSX 4.32% 6.13 H Dreyfus Small Cap Stock Index DREYFUS DSPIX 4.14% 4.11 S *** Dreyfus Basic S&P 500 Stock Index DREYFUS PEOPX 4.13% 4.78 S *** Dreyfus S&P 500 Index DREYFUS DAGVX 4.02% 4.72 S *** Dreyfus Premier Strategic Value A DREYFUS DDSTX 3.96% 5.08 H Dreyfus Disciplined Stock DREYFUS DMCVX 3.80% 4.42 S *** Dreyfus Midcap Value DREYFUS DRELX 3.68% 5.39 H Dreyfus Emerging Leaders DREYFUS DREVX 3.44% 4.89 S *** Dreyfus DREYFUS DGRIX 3.33% 2.91 S *** Dreyfus Growth & Income DREYFUS PESPX 3.32% 3.51 S *** Dreyfus MidCap Index DREYFUS DLGIX 3.11% 5.62 H Dreyfus LifeTime Growth Inv DREYFUS DREQX 2.88% 6.41 H Dreyfus Growth Opportunity DREYFUS DTGRX 2.87% 2.30 S *** Dreyfus Premier Technology Growth A DREYFUS DGAGX 2.81% 4.68 S *** Dreyfus Appreciation DREYFUS DPSAX 2.50% 5.18 H Dreyfus Premier Structured Midcap A DREYFUS DGIIX 1.86% 5.43 H Dreyfus LifeTime Growth & Income Inv DREYFUS DLMBX 1.48% 4.64? S? *** Dreyfus Tax Managed Balanced DREYFUS DIISX 0.68% 4.67 S *** Dreyfus Intl Stock Index DREYFUS DLIIX 0.64% 5.99? H? Dreyfus LifeTime Income Inv Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: Fidelity Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- FIDELITY FLATX 43.95% Fidelity Latin America FIDELITY FLTAX 43.82% Fidelity Advisor Latin America A FIDELITY FLSAX 35.98% Fidelity Advisor Leveraged Co Stk A FIDELITY FEMKX 35.69% Fidelity Emerging Markets FIDELITY FLVCX 35.41% Fidelity Leveraged Company Stock FIDELITY FAMKX 32.69% Fidelity Advisor Emerging Markets A (IN:04/02/04) FIDELITY FNARX 30.92% Fidelity Select Natural Resources FIDELITY FSESX 30.67% Fidelity Select Energy Service FIDELITY FANAX 30.26% Fidelity Advisor Energy A FIDELITY FSEAX 29.05% Fidelity Southeast Asia FIDELITY FSNGX 27.22% Fidelity Select Natural Gas FIDELITY FICDX 27.10% Fidelity Canada FIDELITY FNORX 26.90% Fidelity Nordic FIDELITY FSAGX 26.73% Fidelity Select Gold FIDELITY FWRLX 26.61% Fidelity Select Wireless FIDELITY FSENX 26.21% Fidelity Select Energy FIDELITY FSCOX 25.50% Fidelity International Small Cap Opp (IN:08/09/05) FIDELITY FOPAX 25.32% Fidelity Advisor Intl Sm Cap Opp A (IN:08/09/05) FIDELITY FSDCX 25.08% Fidelity Select Communications Equip FIDELITY FNINX 24.97% Fidelity Select Network & Infrastruct FIDELITY FDMAX 24.88% Fidelity Advisor Communications Equip A FIDELITY FSDPX 24.85% Fidelity Select Materials FIDELITY FSCSX 24.23% Fidelity Select Software & Comp FIDELITY FEAAX 24.12% Fidelity Advisor Emerging Asia A FIDELITY FADTX 23.31% Fidelity Advisor Technology A FIDELITY FSPTX 22.77% Fidelity Select Technology FIDELITY FDEGX 22.18% Fidelity Aggressive Growth FIDELITY FISMX 22.05% Fidelity International Small Cap (IN:09/20/02) FIDELITY FSTCX 21.98% Fidelity Select Telecommunications FIDELITY FIEUX 21.85% Fidelity Europe FIDELITY FIGRX 21.33% Fidelity International Discovery FIDELITY FDGRX 21.05% Fidelity Growth Company FIDELITY FPBFX 20.73% Fidelity Pacific Basin FIDELITY FDCPX 20.69% Fidelity Select Computers FIDELITY FSELX 20.44% Fidelity Select Electronics FIDELITY FAKAX 20.37% Fidelity Advisor Korea A FIDELITY FELAX 20.35% Fidelity Advisor Electronics A FIDELITY FCLAX 20.29% Fidelity Advisor Indstrials A FIDELITY FDFFX 20.18% Fidelity Independence FIDELITY FSLEX 19.74% Fidelity Select Environmental FIDELITY FSCGX 19.57% Fidelity Select Industrial Equipment FIDELITY FLPSX 19.34% Fidelity Low-Priced Stock FIDELITY FARAX 19.16% Fidelity Advisor Dynamic Cap App A FIDELITY FOCPX 19.09% Fidelity OTC FIDELITY FDIVX 18.94% Fidelity Diversified International FIDELITY FUGAX 18.76% Fidelity Advisor Utilities A FIDELITY FSIIX 18.57% Fidelity Spartan International Index Inv FIDELITY FAOAX 18.37% Fidelity Advisor Overseas A FIDELITY FOSFX 18.36% Fidelity Overseas FIDELITY FSUTX 18.09% Fidelity Select Utilities Growth FIDELITY FAEAX 18.07% Fidelity Advisor Europe Cap Apprec A FIDELITY FSRFX 18.01% Fidelity Select Transportation FIDELITY FHKCX 17.82% Fidelity China Region FIDELITY FSLBX 17.66% Fidelity Select Brokerage & Investmnt FIDELITY FEXPX 17.41% Fidelity Export & Multinational FIDELITY FIUIX 17.23% Fidelity Utilities FIDELITY FSEMX 17.13% Fidelity Spartan Extended Mkt Index Inv FIDELITY FNIAX 17.12% Fidelity Advisor New Insights A (IN:08/01/03) FIDELITY FSMGX 16.82% Fidelity Mid Cap Growth FIDELITY FTXMX 16.80% Fidelity Tax-Managed Stock FIDELITY FIASX 16.66% Fidelity Advisor Intl Small Cap A (IN:05/28/03) FIDELITY FAIDX 16.55% Fidelity Advisor Intl Discovery A (IN:01/13/05) FIDELITY FMCSX 16.51% Fidelity Mid-Cap Stock FIDELITY FAMRX 16.41% Fidelity Asset Manager 85% FIDELITY FTAMX 16.41% Fidelity Advisor Tax Managed A FIDELITY FSAIX 16.39% Fidelity Select Air Transportation FIDELITY FCYIX 16.31% Fidelity Select Industrials FIDELITY FCPGX 16.14% Fidelity Small Cap Growth (IN:11/10/04) FIDELITY FSDAX 16.06% Fidelity Select Defense & Aerospace FIDELITY FCAGX 16.05% Fidelity Advisor Small Cap Growth A (IN:11/10/04) FIDELITY FECAX 15.80% Fidelity Europe Capital Appreciation FIDELITY FDVAX 15.64% Fidelity Advisor Diversified Intl A FIDELITY FIIAX 15.63% Fidelity Advisor Mid Cap II A (IN:08/13/04) FIDELITY FSAVX 15.48% Fidelity Select Automotive FIDELITY FBSOX 15.46% Fidelity Select IT Services FIDELITY FSCHX 15.46% Fidelity Select Chemicals FIDELITY FGVAX 15.31% Fidelity Advisor Aggressive Gr A FIDELITY FBIOX 15.31% Fidelity Select Biotechnology FIDELITY FFTYX 15.24% Fidelity Fifty FIDELITY EPGAX 15.03% Fidelity Advisor Equity Growth A FIDELITY FTQGX 14.96% Fidelity Focused Stock FIDELITY FJPNX 14.61% Fidelity Japan FIDELITY FAGAX 14.51% Fidelity Advisor Growth Opport A FIDELITY FJPAX 14.31% Fidelity Advisor Japan A FIDELITY FSCDX 14.27% Fidelity Advisor Small Cap A FIDELITY FSMVX 14.11% Fidelity Mid Cap Value FIDELITY FWWFX 14.03% Fidelity Worldwide FIDELITY FDSVX 13.95% Fidelity Discovery FIDELITY FBTAX 13.73% Fidelity Advisor Biotechnology A FIDELITY FTQAX 13.66% Fidelity Advisor Strategic Growth A FIDELITY FMCDX 13.59% Fidelity Advisor Mid Cap A FIDELITY FTRNX 13.49% Fidelity Trend FIDELITY FSLSX 13.45% Fidelity Value Strategies FIDELITY FDLSX 13.34% Fidelity Select Leisure FIDELITY FSLCX 13.34% Fidelity Small Cap Stock FIDELITY FVDFX 13.24% Fidelity Value Discovery (IN:12/11/02) FIDELITY FALAX 13.20% Fidelity Advisor Large Cap A FIDELITY FDCAX 13.20% Fidelity Capital Appreciation FIDELITY FDSSX 13.18% Fidelity Stock Selector FIDELITY FFIDX 13.11% Fidelity FIDELITY FLCSX 13.10% Fidelity Large Cap Stock FIDELITY FSLVX 12.91% Fidelity Large Cap Value FIDELITY FJSCX 12.86% Fidelity Japan Smaller Companies FIDELITY FDTOX 12.81% Fidelity Advisor Diversified Stock A FIDELITY FSTMX 12.79% Fidelity Spartan Total Market Index Inv FIDELITY FCNTX 12.72% Fidelity Contrafund FIDELITY FSOAX 12.51% Fidelity Advisor Value Strat A FIDELITY FBALX 12.34% Fidelity Balanced FIDELITY FDVLX 12.33% Fidelity Value FIDELITY FUSEX 11.55% Fidelity Spartan U.S. Equity Index Inv FIDELITY FDSCX 11.53% Fidelity Small Cap Independence FIDELITY FDLEX 11.47% Fidelity Exchange FIDELITY FIVFX 11.34% Fidelity Aggressive Intl FIDELITY FGEAX 11.33% Fidelity Advisor Global Cap App A FIDELITY FFNOX 11.25% Fidelity Four-in-One Index FIDELITY FSHOX 11.19% Fidelity Select Construction&Housing FIDELITY FSMKX 11.19% Fidelity Spartan 500 Index Investor FIDELITY FSPFX 11.13% Fidelity Select Paper & Forest Prod FIDELITY FGRTX 11.09% Fidelity Growth & Income II FIDELITY FSLGX 11.00% Fidelity Large Cap Growth FIDELITY FCPVX 10.96% Fidelity Small Cap Value (IN:11/10/04) FIDELITY FCVAX 10.77% Fidelity Advisor Small Cap Value A (IN:11/10/04) FIDELITY FMILX 10.73% Fidelity New Millennium FIDELITY FDEQX 10.65% Fidelity Disciplined Equity FIDELITY FBMPX 10.53% Fidelity Select Multimedia FIDELITY FFYAX 10.37% Fidelity Advisor Fifty A FIDELITY FPHAX 10.11% Fidelity Select Pharmaceuticals FIDELITY FGIRX 10.08% Fidelity Advisor Growth & Income A FIDELITY FEIAX 9.79% Fidelity Advisor Equity Income A FIDELITY FEQIX 9.58% Fidelity Equity-Income FIDELITY FHEAX 9.54% Fidelity Advisor Real Estate A FIDELITY FSCRX 9.37% Fidelity Small Cap Retirement FIDELITY FAVAX 9.21% Fidelity Advisor Equity Value A FIDELITY CNGRX 9.11% Fidelity Congress Street FIDELITY FGBLX 8.92% Fidelity Global Balanced tion FIDELITY FDFAX 8.88% Fidelity Select Consumer Staples FIDELITY FNCMX 8.86% Fidelity Nasdaq Composite Index (IN:09/26/03) FIDELITY FLOAX 8.69% Fidelity Advisor Asset Manager 70% A FIDELITY FCPAX 8.60% Fidelity Advisor Intl Capital App A FIDELITY FSHCX 8.38% Fidelity Select Medical Delivery FIDELITY FASGX 8.32% Fidelity Asset Manager 70% FIDELITY FBGRX 8.26% Fidelity Blue Chip Growth FIDELITY FSPCX 8.15% Fidelity Select Insurance FIDELITY FBCVX 8.11% Fidelity Blue Chip Value (IN:06/18/03) FIDELITY FEQTX 7.98% Fidelity Equity-Income II FIDELITY FDTTX 7.83% Fidelity Advisor Destiny II A FIDELITY FDETX 7.82% Fidelity Destiny II FIDELITY FTVFX 7.71% Fidelity Advisor Value T (IN:01/06/04) FIDELITY FAVFX 7.68% Fidelity Advisor Value A (IN:01/06/04) FIDELITY FADAX 7.57% Fidelity Advisor Dividend Growth A FIDELITY FDGFX 7.51% Fidelity Dividend Growth FIDELITY FVLAX 7.44% Fidelity Advisor Value Leaders A (IN:06/18/03) FIDELITY FRESX 7.37% Fidelity Real Estate Investment FIDELITY FAFDX 7.20% Fidelity Advisor Financial Svc A FIDELITY FSMEX 7.08% Fidelity Select Medical Equip/Systems FIDELITY FPURX 6.19% Fidelity Puritan FIDELITY FCNAX 6.12% Fidelity Advisor Consumer Disc A FIDELITY FMAGX 6.03% Fidelity Magellan FIDELITY FACDX 5.84% Fidelity Advisor Health Care A FIDELITY FIDSX 5.07% Fidelity Select Financial Services FIDELITY FSDIX 5.03% Fidelity Strategic Dividend & Income (IN:01/06/04) FIDELITY FASDX 4.94% Fidelity Advisor Strategic Div & Inc A (IN:01/06/04) FIDELITY FABLX 4.78% Fidelity Advisor Balanced A FIDELITY FSRPX 4.51% Fidelity Select Retailing FIDELITY FGRIX 4.37% Fidelity Growth & Income FIDELITY FASMX 3.93% Fidelity Asset Manager 50% FIDELITY FIVLX 3.76% Fidelity International Value (IN:05/23/06) FIDELITY FIVMX 3.74% Fidelity Advisor International Value A (IN:05/23/06) FIDELITY FASIX 3.54% Fidelity Asset Manager 20% FIDELITY FSRRX 3.20% Fidelity Strategic Real Return (IN:09/14/05) FIDELITY FSRAX 3.16% Fidelity Advisor Strategic Real Return A (IN:09/14/05) FIDELITY FSCPX 2.54% Fidelity Select Consumer Industries FIDELITY FSPHX 1.51% Fidelity Select Health Care FIDELITY FRIFX 0.87% Fidelity Real Estate Income FIDELITY FSRBX -3.19% Fidelity Select Banking FIDELITY FSVLX -4.17% Fidelity Select Home Finance FIDELITY FIREX -100.00% Fidelity International Real Estate al Estate> *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- FIDELITY FSVLX 22.93% 5.55? H? Fidelity Select Home Finance FIDELITY FAFDX 13.24% 4.43 S *** Fidelity Advisor Financial Svc A FIDELITY FIDSX 12.89% 5.71 H Fidelity Select Financial Services FIDELITY FSRBX 12.79% 6.76 H Fidelity Select Banking FIDELITY FSLBX 10.21% 4.63 S *** Fidelity Select Brokerage & Investmnt FIDELITY FSHOX 9.96% 4.60? S? *** Fidelity Select Construction&Housing FIDELITY FRESX 8.39% 7.76 B Fidelity Real Estate Investment FIDELITY FHEAX 8.20% 6.94 H Fidelity Advisor Real Estate A FIDELITY FSPCX 8.00% 3.84? S? *** Fidelity Select Insurance FIDELITY FSRPX 7.85% 6.67? H? Fidelity Select Retailing FIDELITY FGRIX 7.45% 5.80 H Fidelity Growth & Income FIDELITY FSAVX 6.81% 4.11? S? *** Fidelity Select Automotive FIDELITY FALAX 5.90% 2.98 S *** Fidelity Advisor Large Cap A FIDELITY FLCSX 5.89% 2.01 S *** Fidelity Large Cap Stock FIDELITY FSCPX 5.83% 4.36 S *** Fidelity Select Consumer Industries FIDELITY FCNAX 5.81% 4.45 S *** Fidelity Advisor Consumer Disc A FIDELITY FEQTX 5.64% 3.73 S *** Fidelity Equity-Income II FIDELITY FBSOX 5.63% 4.24? S? *** Fidelity Select IT Services FIDELITY FEIAX 5.58% 3.67 S *** Fidelity Advisor Equity Income A FIDELITY FAVAX 5.43% 4.34 S *** Fidelity Advisor Equity Value A FIDELITY FVDFX 5.39% 4.46 S *** Fidelity Value Discovery FIDELITY FBCVX 5.29% 4.08 S *** Fidelity Blue Chip Value FIDELITY FVLAX 5.28% 4.14 S *** Fidelity Advisor Value Leaders A FIDELITY FDLSX 5.15% 4.66? S? *** Fidelity Select Leisure FIDELITY FEQIX 5.08% 4.57 S *** Fidelity Equity-Income FIDELITY FADAX 4.84% 4.17 S *** Fidelity Advisor Dividend Growth A FIDELITY FSCSX 4.76% 4.32 S *** Fidelity Select Software & Comp FIDELITY FDGFX 4.66% 5.29 H Fidelity Dividend Growth FIDELITY FASDX 4.58% 5.81 H Fidelity Advisor Strategic Div & Inc A FIDELITY FAVFX 4.53% 3.65 S *** Fidelity Advisor Value A FIDELITY FSLVX 4.52% 3.66 S *** Fidelity Large Cap Value FIDELITY FSDIX 4.47% 4.42 S *** Fidelity Strategic Dividend & Income FIDELITY FTVFX 4.46% 4.15 S *** Fidelity Advisor Value T FIDELITY FDVLX 4.46% 3.79 S *** Fidelity Value FIDELITY FSOAX 4.36% 5.26 H Fidelity Advisor Value Strat A FIDELITY FSLSX 4.34% 5.41 H Fidelity Value Strategies FIDELITY FDTOX 4.24% 4.00 S *** Fidelity Advisor Diversified Stock A FIDELITY FGIRX 4.17% 4.60 S *** Fidelity Advisor Growth & Income A FIDELITY FSMKX 4.14% 4.93 S *** Fidelity Spartan 500 Index Investor FIDELITY FUSEX 4.12% 4.92 S *** Fidelity Spartan U.S. Equity Index Inv FIDELITY FDSSX 4.10% 4.53 S *** Fidelity Stock Selector FIDELITY FSRFX 4.08% 5.95? H? Fidelity Select Transportation FIDELITY FGRTX 4.07% 4.23 S *** Fidelity Growth & Income II FIDELITY FSCRX 4.03% 4.48 S *** Fidelity Small Cap Retirement FIDELITY FSTMX 3.99% 7.61 B Fidelity Spartan Total Market Index Inv FIDELITY FOCPX 3.83% 3.59 S *** Fidelity OTC FIDELITY FNCMX 3.78% 3.54 S *** Fidelity Nasdaq Composite Index FIDELITY FSTCX 3.70% 0.51 S *** Fidelity Select Telecommunications FIDELITY FBGRX 3.68% 5.65 H Fidelity Blue Chip Growth FIDELITY FSAIX 3.64% 3.69? S? *** Fidelity Select Air Transportation FIDELITY FSMGX 3.63% 1.85 S *** Fidelity Mid Cap Growth FIDELITY FDSCX 3.46% 2.56 S *** Fidelity Small Cap Independence FIDELITY FPHAX 3.44% 2.90 S *** Fidelity Select Pharmaceuticals FIDELITY FSEMX 3.43% 5.74 H Fidelity Spartan Extended Mkt Index Inv FIDELITY FCVAX 3.41% 4.90 S *** Fidelity Advisor Small Cap Value A FIDELITY FCPVX 3.39% 4.91 S *** Fidelity Small Cap Value FIDELITY FMCDX 3.25% 3.65 S *** Fidelity Advisor Mid Cap A FIDELITY FFIDX 3.24% 5.25 H Fidelity FIDELITY FSMEX 3.22% 5.98? H? Fidelity Select Medical Equip/Systems FIDELITY FSLCX 3.20% 6.03 H Fidelity Small Cap Stock FIDELITY FFYAX 3.08% 4.92 S *** Fidelity Advisor Fifty A FIDELITY FFTYX 3.07% 3.35 S *** Fidelity Fifty FIDELITY FBMPX 3.04% 4.86? S? *** Fidelity Select Multimedia FIDELITY FDLEX 3.03% 4.71 S *** Fidelity Exchange FIDELITY FSEAX 3.02% 2.13 S *** Fidelity Southeast Asia FIDELITY FMILX 3.00% 2.97 S *** Fidelity New Millennium FIDELITY FTQGX 2.97% 3.53 S *** Fidelity Focused Stock FIDELITY FDEQX 2.94% 3.48 S *** Fidelity Disciplined Equity FIDELITY FSMVX 2.87% 5.72 H Fidelity Mid Cap Value FIDELITY FFNOX 2.86% 3.61 S *** Fidelity Four-in-One Index FIDELITY FSDCX 2.84% 1.95 S *** Fidelity Select Communications Equip FIDELITY FSHCX 2.81% 4.52? S? *** Fidelity Select Medical Delivery FIDELITY FDMAX 2.78% 2.88 S *** Fidelity Advisor Communications Equip A FIDELITY FCPGX 2.75% 3.08 S *** Fidelity Small Cap Growth FIDELITY FDGRX 2.72% 2.70 S *** Fidelity Growth Company FIDELITY FDEGX 2.69% 1.15 S *** Fidelity Aggressive Growth FIDELITY FCAGX 2.68% 3.07 S *** Fidelity Advisor Small Cap Growth A FIDELITY FSLGX 2.68% 3.10 S *** Fidelity Large Cap Growth FIDELITY FGVAX 2.65% 0.97 S *** Fidelity Advisor Aggressive Gr A FIDELITY FACDX 2.64% 4.05 S *** Fidelity Advisor Health Care A FIDELITY FBIOX 2.61% 4.23 S *** Fidelity Select Biotechnology FIDELITY FSPHX 2.60% 4.10 S *** Fidelity Select Health Care FIDELITY FAMRX 2.60% 2.48 S *** Fidelity Asset Manager 85% FIDELITY FJPAX 2.60% 4.00 S *** Fidelity Advisor Japan A FIDELITY FAGAX 2.58% 4.38 S *** Fidelity Advisor Growth Opport A FIDELITY FDSVX 2.58% 5.54 H Fidelity Discovery FIDELITY EPGAX 2.56% 2.96 S *** Fidelity Advisor Equity Growth A FIDELITY FTRNX 2.55% 3.15 S *** Fidelity Trend FIDELITY FTQAX 2.53% 3.95 S *** Fidelity Advisor Strategic Growth A FIDELITY FDFAX 2.52% 5.77? H? Fidelity Select Consumer Staples FIDELITY FEAAX 2.52% 3.22 S *** Fidelity Advisor Emerging Asia A FIDELITY FJPNX 2.48% 4.45 S *** Fidelity Japan FIDELITY FABLX 2.48% 4.97 S *** Fidelity Advisor Balanced A FIDELITY FBTAX 2.47% 4.23 S *** Fidelity Advisor Biotechnology A FIDELITY FADTX 2.44% 3.11 S *** Fidelity Advisor Technology A FIDELITY FBALX 2.44% 5.22 H Fidelity Balanced FIDELITY FSPTX 2.41% 2.36 S *** Fidelity Select Technology FIDELITY FPURX 2.38% 4.39 S *** Fidelity Puritan FIDELITY FELAX 2.34% 3.97 S *** Fidelity Advisor Electronics A FIDELITY FASGX 2.33% 3.11 S *** Fidelity Asset Manager 70% FIDELITY FCYIX 2.27% 6.39 H Fidelity Select Industrials FIDELITY FLOAX 2.25% 3.18 S *** Fidelity Advisor Asset Manager 70% A FIDELITY FLPSX 2.23% 3.71 S *** Fidelity Low-Priced Stock FIDELITY FSCGX 2.21% 2.08 S *** Fidelity Select Industrial Equipment FIDELITY FNINX 2.21% 0.43 S *** Fidelity Select Network & Infrastruct FIDELITY FCLAX 2.21% 4.75 S *** Fidelity Advisor Indstrials A FIDELITY FIREX 2.21% 5.08? H? Fidelity International Real Estate al Estate> FIDELITY FMAGX 2.19% 4.70 S *** Fidelity Magellan FIDELITY FSELX 2.14% 3.69 S *** Fidelity Select Electronics FIDELITY FWRLX 2.14% 1.88 S *** Fidelity Select Wireless FIDELITY CNGRX 2.10% 5.97 H Fidelity Congress Street FIDELITY FRIFX 1.89% 5.00? S? *** Fidelity Real Estate Income FIDELITY FEXPX 1.86% 6.17 H Fidelity Export & Multinational FIDELITY FSLEX 1.86% 3.88 S *** Fidelity Select Environmental FIDELITY FASMX 1.76% 3.83 S *** Fidelity Asset Manager 50% FIDELITY FDCAX 1.69% 4.29 S *** Fidelity Capital Appreciation FIDELITY FTAMX 1.69% 3.83 S *** Fidelity Advisor Tax Managed A FIDELITY FARAX 1.62% 4.29? S? *** Fidelity Advisor Dynamic Cap App A FIDELITY FMCSX 1.52% 2.77 S *** Fidelity Mid-Cap Stock FIDELITY FHKCX 1.50% 6.78 H Fidelity China Region FIDELITY FTXMX 1.44% 4.88 S *** Fidelity Tax-Managed Stock FIDELITY FLSAX 1.44% 4.03 S *** Fidelity Advisor Leveraged Co Stk A FIDELITY FLVCX 1.40% 3.82 S *** Fidelity Leveraged Company Stock FIDELITY FWWFX 1.37% 4.29 S *** Fidelity Worldwide FIDELITY FDCPX 1.20% 3.58? S? *** Fidelity Select Computers FIDELITY FJSCX 1.14% 5.64? H? Fidelity Japan Smaller Companies FIDELITY FGEAX 1.03% 6.13 H Fidelity Advisor Global Cap App A FIDELITY FIVMX 1.01% 4.81 S *** Fidelity Advisor International Value A FIDELITY FIVLX 1.01% 4.66 S *** Fidelity International Value FIDELITY FSCDX 0.99% 3.48 S *** Fidelity Advisor Small Cap A FIDELITY FIUIX 0.96% 3.86 S *** Fidelity Utilities FIDELITY FSIIX 0.92% 5.45 H Fidelity Spartan International Index Inv FIDELITY FCNTX 0.83% 4.92 S *** Fidelity Contrafund FIDELITY FASIX 0.75% 4.62 S *** Fidelity Asset Manager 20% FIDELITY FNIAX 0.75% 4.84 S *** Fidelity Advisor New Insights A FIDELITY FDVAX 0.74% 4.44 S *** Fidelity Advisor Diversified Intl A FIDELITY FDETX 0.74% 2.71 S *** Fidelity Destiny II FIDELITY FDTTX 0.66% 3.33 S *** Fidelity Advisor Destiny II A FIDELITY FSPFX 0.64% 3.19? S? *** Fidelity Select Paper & Forest Prod FIDELITY FPBFX 0.55% 2.89 S *** Fidelity Pacific Basin FIDELITY FSDAX 0.40% 3.02? S? *** Fidelity Select Defense & Aerospace FIDELITY FAOAX 0.29% 4.37 S *** Fidelity Advisor Overseas A FIDELITY FGBLX 0.23% 3.94 S *** Fidelity Global Balanced tion FIDELITY FAMKX 0.20% 3.70 S *** Fidelity Advisor Emerging Markets A FIDELITY FDIVX 0.14% 4.84 S *** Fidelity Diversified International FIDELITY FEMKX 0.14% 2.83 S *** Fidelity Emerging Markets FIDELITY FSRAX 0.10% 5.17? H? Fidelity Advisor Strategic Real Return A FIDELITY FSRRX 0.10% 6.62? H? Fidelity Strategic Real Return FIDELITY FECAX 0.09% 4.43 S *** Fidelity Europe Capital Appreciation FIDELITY FAEAX 0.07% 3.79 S *** Fidelity Advisor Europe Cap Apprec A FIDELITY FIIAX 0.00% 3.02 S *** Fidelity Advisor Mid Cap II A FIDELITY FAKAX 0.00% 7.87 B Fidelity Advisor Korea A FIDELITY FIGRX -0.19% 4.00 S *** Fidelity International Discovery FIDELITY FAIDX -0.19% 4.00 S *** Fidelity Advisor Intl Discovery A FIDELITY FIVFX -0.23% 4.65 S *** Fidelity Aggressive Intl FIDELITY FOSFX -0.29% 3.87 S *** Fidelity Overseas FIDELITY FCPAX -0.36% 4.73 S *** Fidelity Advisor Intl Capital App A FIDELITY FIEUX -0.46% 4.47 S *** Fidelity Europe FIDELITY FUGAX -0.79% 3.62 S *** Fidelity Advisor Utilities A FIDELITY FSUTX -0.79% 4.36 S *** Fidelity Select Utilities Growth FIDELITY FDFFX -0.99% 4.66 S *** Fidelity Independence FIDELITY FNORX -1.45% 3.42 S *** Fidelity Nordic FIDELITY FSNGX -2.00% 4.91 S *** Fidelity Select Natural Gas FIDELITY FSESX -2.03% 3.45 S *** Fidelity Select Energy Service FIDELITY FANAX -2.06% 4.71 S *** Fidelity Advisor Energy A FIDELITY FSENX -2.06% 4.46 S *** Fidelity Select Energy FIDELITY FLTAX -2.12% 5.06 H Fidelity Advisor Latin America A FIDELITY FIASX -2.15% 4.07? S? *** Fidelity Advisor Intl Small Cap A FIDELITY FISMX -2.18% 4.10? S? *** Fidelity International Small Cap FIDELITY FLATX -2.19% 3.92 S *** Fidelity Latin America FIDELITY FOPAX -2.41% 3.93? S? *** Fidelity Advisor Intl Sm Cap Opp A FIDELITY FSCOX -2.48% 3.52? S? *** Fidelity International Small Cap Opp FIDELITY FSCHX -2.57% 4.51 S *** Fidelity Select Chemicals FIDELITY FSDPX -3.02% 4.22 S *** Fidelity Select Materials FIDELITY FICDX -3.53% 4.17 S *** Fidelity Canada FIDELITY FNARX -3.64% 3.91 S *** Fidelity Select Natural Resources FIDELITY FSAGX -13.56% 3.56 S *** Fidelity Select Gold Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: General Electric Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- GEFUNDS GIEIX 21.09% GE Instl International Equity Inv GEFUNDS EGLBX 19.44% Elfun International Equity GEFUNDS GEICX 18.83% GE International Equity A GEFUNDS GEGEX 15.56% GE Global Equity A GEFUNDS GAGSX 12.52% GE Aggressive Strategy GEFUNDS GEAAX 12.07% GE Aggressive Allocation GEFUNDS GIDIX 11.03% GE Instl S&P 500 Index Inv GEFUNDS GSVIX 9.42% GE Instl Small-Cap Equity Inv GEFUNDS GMALX 9.04% GE Moderate Allocation GEFUNDS GMSTX 9.01% GE Moderate Strategy GEFUNDS GEIPX 8.76% GE Instl Premier Growth Equity Inv GEFUNDS GEIVX 7.96% GE Instl Value Equity Inv GEFUNDS GSIVX 7.35% GE Instl Strategic Investment Inv GEFUNDS GUSIX 7.33% GE Instl U.S. Equity Inv GEFUNDS GEEBX 5.45% GE U.S. Equity B GEFUNDS GESSX 5.41% GE S&S Program Mutual GEFUNDS GEPBX 4.56% GE Premier Growth Equity B GEFUNDS GESBX 4.34% GE Strategic Investment B GEFUNDS GCSTX 4.28% GE Conservative Strategy GEFUNDS ITVBX 4.04% GE Value Equity B GEFUNDS ELDFX 3.70% Elfun Diversified GEFUNDS GBSCX 3.51% GE Small-Cap Equity B GEFUNDS GECAX 1.92% GE Conservative Allocation GEFUNDS ELFNX 1.75% Elfun Trusts *** Section 2: PERFORMANCE OVER PAST 3 TRADING DAYS *** The SCORE Column shows the current rating (0-10) REC values are: "B" (Buy), "H" (Hold), "S" (Sell) A "?" indicates a less accurate Decomposition Funds in the "S" state are prefixed with "***". SYMBOL %GAIN SCORE REC Description ------ ----- ----- --- ----------- GEFUNDS GSVIX 4.16% 6.10 H GE Instl Small-Cap Equity Inv GEFUNDS GIDIX 4.11% 4.73 S *** GE Instl S&P 500 Index Inv GEFUNDS GBSCX 4.09% 6.30 H GE Small-Cap Equity B GEFUNDS ELFNX 3.54% 4.24 S *** Elfun Trusts GEFUNDS GEPBX 3.22% 3.35 S *** GE Premier Growth Equity B GEFUNDS GUSIX 3.21% 6.78 H GE Instl U.S. Equity Inv GEFUNDS GEIPX 3.20% 4.26 S *** GE Instl Premier Growth Equity Inv GEFUNDS GEEBX 3.18% 4.39 S *** GE U.S. Equity B GEFUNDS GESSX 3.16% 6.33 H GE S&S Program Mutual GEFUNDS GEIVX 2.61% 4.65 S *** GE Instl Value Equity Inv GEFUNDS ITVBX 2.52% 4.38 S *** GE Value Equity B GEFUNDS ELDFX 1.96% 5.48 H Elfun Diversified GEFUNDS GEAAX 1.58% 4.66? S? *** GE Aggressive Allocation GEFUNDS GSIVX 1.39% 5.61 H GE Instl Strategic Investment Inv GEFUNDS GESBX 1.37% 5.00 H GE Strategic Investment B GEFUNDS GMALX 1.28% 5.03? H? GE Moderate Allocation GEFUNDS GECAX 0.85% 4.94? S? *** GE Conservative Allocation GEFUNDS GEGEX 0.48% 3.59 S *** GE Global Equity A GEFUNDS GCSTX 0.18% 4.63? S? *** GE Conservative Strategy GEFUNDS GAGSX 0.00% 4.81? S? *** GE Aggressive Strategy GEFUNDS GMSTX 0.00% 6.81? H? GE Moderate Strategy GEFUNDS EGLBX -0.36% 3.82 S *** Elfun International Equity GEFUNDS GIEIX -0.42% 3.56 S *** GE Instl International Equity Inv GEFUNDS GEICX -0.60% 6.05 H GE International Equity A Report Date: 3/21/08 Data Date: 3/20/08 ******************************************************************************** FUND FAMILY: ING Funds ******************************************************************************** *** Section 1: "Annualized" Percentage Gains *** (based on start date of 8/16/02 or inception date shown) (and ASSUMING fund is held ONLY when the MFTI is a buy/hold) SYMBOL %GAIN Description ------ ------- ----------------------------------- ING LETRX 34.23% ING Russia A ING IFCAX 29.11% ING Greater China A (IN:12/30/05) ING LEXMX 28.46% ING Precious Metals A ING NTKLX 23.36% ING International SmallCap A ING NECAX 22.86% ING Emerging Countries A ING IMVAX 21.81% ING Midcap Value A ING IDTOX 19.80% ING Direct Global Science and Tech O ING ATNAX 19.80% ING Global Science and Technology A ING NAWGX 18.64% ING Global Value Choice A ING AEIAX 18.54% ING International Growth A ING IDIOX 18.35% ING DIRECT International Growth O ING NSPAX 17.22% ING Small Cap Opportunities A ING PAVAX 16.99% ING Midcap Value Choice A (IN:02/01/05) ING IAFAX 16.95% ING Foreign A (IN:02/05/04) ING NMCAX 15.41% ING Mid Cap Opportunities A ING NIVAX 14.52% ING International Value A ING NLCAX 13.55% ING Large Cap Growth A ING LEXIX 13.25% ING International A ING LEXCX 12.93% ING Corporate Leaders Trust B ING NREIX 12.40% ING Disciplined LargeCap A ING PMCFX 12.37% ING MagnaCap A ING IACAX 11.86% ING International Capital Appreciation A (IN:12/30/05) ING AEGAX 11.45% ING Growth A ING AGRWX 10.92% ING Growth B ING SAAAX 10.67% ING Smallcap Value Choice A (IN:02/01/05) ING IGLAX 10.57% ING Global Real Estate A ING AAGIX 10.45% ING Growth and Income A ING AELAX 9.87% ING Index Plus Large Cap A ING IDSOX 9.85% ING DIRECT Index Plus Small Cap O ING AISAX 9.80% ING Index Plus Small Cap A ING AIMAX 9.76% ING Index Plus Mid Cap A ING IDMOX 9.75% ING DIRECT Index Plus Mid Cap O ING IDLOX 9.69% ING DIRECT Index Plus Large Cap O ING IVCAX 9.58% ING International Value Choice A (IN:02/01/05) ING IIRAX 9.44% ING International Real Estate A (IN:02/28/06) ING ATAAX 7.73% ING Strategic Allocation Growth A ING LIXIX 7.24% ING International I (IN:11/11/04) ING AESAX 7.01% ING Small Company A ING IOLAX 6.68% ING Opportunistic LargeCap A (IN:12/30/05) ING IVSAX 5.49% ING Smallcap Value A (IN:01/22/04) ING ATCAX 5.43% ING Strategic Allocation Moderate A ING AETAX 5.25% ING Balanced A ING IFIAX 4.80% ING Index Plus International Equity A (IN:12/30/05) ING IAGEX 4.59% ING Global Equity Dividend A (I