PERMANENT PORTFOLIO FAMILY OF FUNDS, INC.
PERMANENT PORTFOLIO
SCHEDULE OF CALCULATIONS OF PERFORMANCE DATA
n
P (1+T) = ERV
P = initial investment in shares
T = average annual total return
n = number of days
ERV = ending redeemable value
Average annual total return for 1 year ended January 31, 2000:
n
P (1+T) = ERV
1
1,000 (1+T) = 988.38
1+T = .98838
T = (1.16)%
Average annual total return for 5 years ended January 31, 2000:
n
P (1+T) = ERV
5
1,000 (1+T) = 1,270.09
1/5
1+T = 1.27009
1+T = 1.04898
T = 4.90%
Average annual total return for 10 years ended January 31, 2000:
n
P (1+T) = ERV
10
1,000 (1+T) = 1,541.35
1/10
1+T = 1.54135
1+T = 1.04422
T = 4.42%
Average annual total return for 15 years ended January 31, 2000:
n
P (1+T) = ERV
15
1,000 (1+T) = 2,220.28
1/15
1+T = 2.22028
1+T = 1.05461
T = 5.46%
Average annual total return for 17 years, 62-days ended January 31, 2000:
n
P (1+T) = ERV
17.1699
1,000 (1+T) = 2,137.32
1/17.1699
1+T = 2.13732
1+T = 1.04523
T = 4.52%
<PAGE>
PERMANENT PORTFOLIO FAMILY OF FUNDS, INC.
TREASURY BILL PORTFOLIO
SCHEDULE OF CALCULATIONS OF PERFORMANCE DATA
n
P (1+T) = ERV
P = initial investment in shares
T = average annual total return
n = number of days
ERV = ending redeemable value
Average annual total return for 1 year ended January 31, 2000:
n
P (1+T) = ERV
1
1,000 (1+T) = 1,036.51
1+T = 1.03651
T = 3.65%
Average annual total return for 5 years ended January 31, 2000:
n
P (1+T) = ERV
5
1,000 (1+T) = 1,225.46
1/5
1+T = 1.22546
1+T = 1.04150
T = 4.15%
Average annual total return for 10 years ended January 31, 2000:
n
P (1+T) = ERV
10
1,000 (1+T) = 1,494.23
1/10
1+T = 1.49423
1+T = 1.04098
T = 4.10%
Average annual total return for 12 years, 250-days ended January 31, 2000:
n
P (1+T) = ERV
12.6849
1,000 (1+T) = 1,766.68
1/12.6849
1+T = 1.76668
1+T = 1.04589
T = 4.59%
<PAGE>
PERMANENT PORTFOLIO FAMILY OF FUNDS, INC.
TREASURY BILL PORTFOLIO
SCHEDULE OF CALCULATIONS OF PERFORMANCE DATA
Yield for 7 days ended January 31, 2000:
Share price at January 24, 2000 (net of capital gains): $67.84
Share price at January 31, 2000 (net of capital gains): $67.88
( )
( 67.88 - 67.84 ) 365
( ------------- ) * --- = 3.07%
( 67.84 ) 7
Effective yield for 7 days ended January 31, 2000:
[( ) ^ 52.14 ]
[( 67.88 - 67.84 ) ]
[( 1 + ------------- ) ] - 1 = 3.12%
[( 67.84 ) ]
<PAGE>
PERMANENT PORTFOLIO FAMILY OF FUNDS, INC.
VERSATILE BOND PORTFOLIO
SCHEDULE OF CALCULATIONS OF PERFORMANCE DATA
n
P (1+T) = ERV
P = initial investment in shares
T = average annual total return
n = number of days
ERV = ending redeemable value
Average annual total return for 1 year ended January 31, 2000:
n
P (1+T) = ERV
1
1,000 (1+T) = 1,031.26
1+T = 1.03126
T = 3.13%
Average annual total return for 5 years ended January 31, 2000:
n
P (1+T) = ERV
5
1,000 (1+T) = 1,271.33
1/5
1+T = 1.27133
1+T = 1.04918
T = 4.92%
Average annual total return for 8 years, 127-days ended January 31, 2000:
n
P (1+T) = ERV
8.3479
1,000 (1+T) = 1,445.97
1/8.3479
1+T = 1.44597
1+T = 1.04517
T = 4.52%
<PAGE>
PERMANENT PORTFOLIO FAMILY OF FUNDS, INC.
VERSATILE BOND PORTFOLIO
SCHEDULE OF CALCULATIONS OF PERFORMANCE DATA
Yield for 30 days ended January 31, 2000:
[( ) 6 ]
YIELD = [( a-b + 1 ) ]
2 [( ------- ) -1 ]
[( (c)(d) ) ]
a = dividends and interest earned during the period
b = expenses accrued for the period (net of reimbursements)
c = the average daily number of shares outstanding during the period that were
entitled to receive dividends
d = the maximum offering price per share on the last day of the period
[( ) 6 ]
[( 92,074.05-24,432.41 + 1 ) ]
YIELD = 2 [( -------------------- ) -1 ]
[( (313,576.530)(58.40) ) ]
[( ) 6 ]
[( 67,641.64 + 1 ) ]
YIELD = 2 [( ------------- ) -1 ]
[( 18,312,869.35 ) ]
[( ) 6 ]
[( ) ]
YIELD = 2 [( 1.00369367 ) -1 ]
[( ) ]
[( ]
[( ]
YIELD = 2 [( .02236768 ]
[( ]
YIELD = 4.4735%
<PAGE>
PERMANENT PORTFOLIO FAMILY OF FUNDS, INC.
AGGRESSIVE GROWTH PORTFOLIO
SCHEDULE OF CALCULATIONS OF PERFORMANCE DATA
n
P (1+T) = ERV
P = initial payment
T = average annual total return
n = number of days
ERV = ending redeemable value
Average annual total return for 1 year ended January 31, 2000:
n
P (1+T) = ERV
1
1,000 (1+T) = 1,208.86
1+T = 1.20886
T = 20.89%
Average annual total return for 5 years ended January 31, 2000:
n
P (1+T) = ERV
5
1,000 (1+T) = 2,911.03
1/5
1+T = 2.91103
1+T = 1.23825
T = 23.83%
Average annual total return for 10 years ended January 31, 2000:
n
P (1+T) = ERV
10
1,000 (1+T) = 4,781.12
1/10
1+T = 4.78112
1+T = 1.16937
T = 16.94%
Average annual total return for 10 years, 29-days ended January 31, 2000:
n
P (1+T) = ERV
10.079
1,000 (1+T) = 4,780.57
1/10.079
1+T = 4.78057
1+T = 1.16793
T = 16.79%
