Allergan 401k (SIP) Plan PSDS Scan 12/31/2008

The Balanced portfolio retreated to the JP Morgan stable value fund represented in the scan by the SVF index which has 5yr data. The only other fund with a positive 5yr Sharpe ratio, AEPGX, has the remaining 1.3% of the plan money. The employee portfolio as of 12/31/2007 was heavily invested in company stock, AGN, which lowered performance and increased risk. This was the impact of 2008 which hit most 401k plans hard.