Stephen Gibson
Managing Partner, Boston Strategic Advisors

Laura P. Dagan, CFA
Investment Committee Member, Board Advisor

George McClelland
Vice Chairman, F-Squared Investments

Howard Present
President and Chief Executive Officer, F-Squared Investments, Rotating Investment Committee Member

Richard F. Tomney
Senior Vice President, Business Development, F-Squared Investments, Rotating Investment Committee Member

Ted Ponko, CFA
Senior Product Analyst, Klein Decisions, Rotating Investment Committee Member

David Powers, CFA
RINET Company LLC, Rotating Investment Committee Member

David Beckwith, CFA
Chief Investment Officer, RINET Company LLC, Rotating Investment Committee Member

Christopher M. O'Neill, Ph.Dl, CFA, CFP®, FRM, ChFC
Vice President, Mesirow Financial Investment Strategies, Rotating Investment Committee Member

Mike Annin, CFA
Managing Director, Mesirow Financial Investment Strategies, Rotating Investment Committee Member

Thomas Champion, CFA
Director, New Product Development in the ETF Marketplace for the New York Stock Exchange, Investment Committee Secretary (non-voting)

Ron Santangelo - Managing Director and CIO, Santangelo Research and Investment Management, LLC

Mr. Santangelo is one of the pre-eminent experts in the investment industry regarding the research and selection of third party mutual fund managers, and was an early advocate for the role and importance of rigorous manager research and screening. He is currently a consultant for the industry, specializing in the investment manager due diligence process, asset allocation modeling, and product development. Previously, he spent over a decade at Merrill Lynch, culminating in his role as Manager of the Managed Solutions and Analytics Group. While there, he was responsible for 21 fundamental and quantitative analysts who performed the due diligence, selection and monitoring of portfolio managers for Merrill Lynch's $350 billion of Global Private Client assets invested in managed products. In addition, he was responsible for Merrill Lynch's $8 billion fund-of-funds discretionary program.

Prior to Merrill Lynch, Mr. Santangelo was Manager of Closed-end Fund Research at Prudential Securities, and Managing Director of Company Analysis at Provident Capital Management. He received a Bachelor of Science in Economics (B.S.E.) with a dual major in finance and management from the University of Pennsylvania.

Stephen Gibson - Managing Partner, Boston Strategic Advisors

Mr. Gibson is a Co-Founder and Managing Partner at Boston Strategic, an executive level consulting practice specializing in asset management. He is a widely recognized leader of multi-channel asset management firms in both retail and institutional markets. As CEO and senior executive, he led dramatic turnarounds and repositioning through innovation and expertise in marketing, distribution, product strategy, international markets and investment management operations. He brings an unusually broad range of experience, as a top executive over two decades, in shaping mutual fund, annuity, ETF, structured product, retirement-oriented, and hedge fund businesses.

Mr. Gibson's was a principal architect in the return to industry leadership status of then-struggling Putnam Investments and Liberty Financial Services, and the rapid growth of the then-very young Kemper Financial Services. He is experienced in M & A, alternative products, and high net worth markets. Mr. Gibson founded Northlink Financial Research in April 2006.

Laura P. Dagan, CFA - Investment Committee Member, Board Advisor

Laura Dagan is the former Chairman and CEO of Dwight Asset Management Company, a fixed income and stable value investment manager for institutional clients. She previously served as Chief Operating Officer and Managing Director following a career as a portfolio manager with the firm. During her 23-year tenure at Dwight, the company grew from $2 billion to $70 billion in assets under management and expanded from a stable value specialist to a fixed income manager providing customized solutions for retirement plan and insurance company clients. She was a member of the Top Leadership Group of Dwight’s parent company, Old Mutual plc, a director of the Stable Value Investment Association and a member of the Vermont Business Roundtable. Ms. Dagan is a recognized stable value expert and has commented in publications including Pensions & Investments, Institutional Investor and the Wall Street Journal in addition to appearances on CNBC.

Ms. Dagan is currently Vice Chairman of Champlain College’s Board of Trustees, and participates on the Board of the Humane Society of Chittenden County. She is also the State Treasurer’s appointee to the Vermont Capital Debt Affordability Advisory Committee. In addition, she is a Chartered Financial Analyst (CFA) charter holder, a member of the CFA Institute, and a prior president of the Vermont CFA Institute.

Ms. Dagan received a Bachelor of Science degree from Bucknell University and completed the Advanced Management Program at Harvard Business School.

George McClelland - Vice Chairman of F-Squared Investments

Mr. McClelland is a Co-Founder, Vice Chairman, and Director of Business Development for F-Squared Investments. Mr. McClelland has experience in the computer, software, telecommunications, financial services, Internet auction, nanotech and medical delivery fields. Mr. McClelland has held senior positions at Data General, Fidelity Investments, University of Massachusetts Medical Center and United Asset Management. He has founded, or co-founded The Charitable Gift Fund and eSecLending companies, where he was Chairman and CEO.

He currently serves on the board of Safeguard Scientifics, Inc.; Friends of the Children, Boston; and is member of the Board of Advisors for Windward Investments and Executive Resources International. He has previously served on the Boards of Riverstone Networks, Storage Networks, The Campbell Group, OSV Partners, Acadian Asset Management, Dwight Asset Management, Clay Finlay, Rogge Partners, Palledyn, Murray Johnstone, L&B Realty Advisors, C S McKee, Advisory Committee of the Group of Thirty, and others.

Mr. McClelland has lectured at MIT, Boston College, and Bentley College. He also has the rare distinction of having Harvard Business School write a case series on entrepreneurship and leadership based on his experience. This case is taught to all first year students. His educational background includes Trinity College in Hartford, Connecticut with a BA in economics, cum laude, Harvard Business School with an MBA (with distinction). In 1998 he was awarded a Ph.D., Humane Letters from the University of Massachusetts Medical School in Worcester, Massachusetts.

Howard Present - President and Chief Executive Officer, Board Member

Mr. Present is Co-Founder, President and CEO of F-Squared Investments. Prior to F-Squared Investments, he was Founder and President of Helicon Partners LLC, a boutique management firm specializing in new business development within the financial services industry.

Previously, Mr. Present was Managing Director at Evergreen Investments where he was a member of the Evergreen Executive Committee. Mr. Present ran global product management and strategy for the firm, led the successful multi-billion dollar business launch into closed end funds, and was business owner of the Alternative Investments, Managed Accounts, and 529 businesses. He was also a lead participant in the firm's M&A efforts.

Prior to joining Evergreen, he was a Managing Director at Putnam Investments, where he founded the firm's Corporate Product Management department. He also was Partner and Director of Strategy for the Boston Financial Group, a leader in the real estate investment industry, and spent 6 years at Chase Manhattan Private Bank where he ran the firm's offshore fund business.

Mr. Present earned a BS in Petroleum Engineering from the University of Texas at Austin and an MBA from Emory University, where he was awarded the Robert W. Woodruff Fellowship for academic excellence. Mr. Present has authored or co-authored several strategy white papers and research studies covering the investment industry, including a 2006 Study in conjunction with Financial Research Corporation entitled "THE NEW GATEKEEPERS: Navigating the Investment Manager Selection Process at Distributors."

Richard F. Tomney - Senior Vice President, Business Development

Rick Tomney joined F-Squared in January, 2009. Prior to F-Squared he was Marketing Director at Gottex Fund Management responsible for institutional sales and client service to North American clients and consultants. Prior to Gottex, Mr. Tomney served as Deputy Chief Investment Officer for Liberty Ridge Capital. In that capacity, he was responsible for facilitating projects related to the investment process including the revamping the investment models and universe screening tools. He also assisted the Chief Investment Officer in managing the daily operations of the investment management department. Additionally Rick served as Risk Officer, overseeing the implementation of risk management techniques and systems. He was also responsible for product development and product management at the firm for both institutional and retail offerings.

Prior to joining Liberty Ridge Capital, Mr. Tomney was vice president in the Corporate Product Development Group at Putnam Investments. Rick also held other senior product positions at United Asset Management Corporation and Fidelity Investments. Rick received a BS and an MBA in finance and marketing from Boston College.

Ted Ponko, CFA - Rotating Investment Committee Member

Mr. Ponko is the Senior Product Analyst with Klein Decisions, an investment software company located in Raleigh, NC. He has over 20 years experience in mutual fund management, investments, portfolio analytics, and retirement plan design. He has served as Chief Investment Officer for the Actuarial Consulting Group, Richmond, VA, and Glenwood Capital, Raleigh, NC.

Mr. Ponko received a B.A. degree from the College of William and Mary in Virginia. He subsequently earned his M.A. and PhD from the University of North Carolina at Chapel Hill. In addition to being a CFA Charterholder, he is a Chartered Financial Consultant (ChFC) and a Certified Employee Benefits Specialist (CEBS®).

David Powers, CFA - Rotating Investment Committee Member

Mr. Powers joined RINET Company in May of 2004 and is a member of RINET's Investment Strategies Group. He brings 11 years of investment experience and is responsible for conducting investment research and due diligence on separate account managers and alternative investments for RINET's investment platform. He is also a member of RINET's Investment Committee that determines asset allocation guidelines, tactical asset allocation decisions, and model portfolio investments.

Prior to joining RINET, David was a Vice President in Evergreen Investments' Product Management Division. Prior to joining Evergreen in 2003, David was a Director within Linsco Private Ledger's Research Department where he was responsible for investment research and due diligence on mutual funds, separately managed accounts, and individual securities.

David is a graduate of Bryant College in Smithfield, RI, where he earned a Bachelor of Science degree in Finance. David is also a CFA Charterholder and is a member of the CFA Institute and the Boston Security Analysts Society (BSAS).

David Beckwith, CFA - Rotating Investment Committee Member

Mr. Beckwith is Chief Investment Officer of RINET Company, LLC. He is responsible for leading the development and direction of RINET's overall investment strategy. He oversees the due diligence, selection, and monitoring of all investment managers, mutual funds and alternative investments. Mr. Beckwith has over 20 years of investment experience. Prior to joining RINET, he was the Managing Director of Hale and Dorr Capital Management LLC, a $1.8 billion private client/family investment management firm. Previously he spent four years as Senior Vice President at Brown Brothers Harriman & Co. managing private client and some institutional accounts, and before that, 12 years as Vice President/Portfolio Manager at John Hancock Financial Services with a focus on the management of global, international, and Pacific Basin mutual funds. Mr. Beckwith began his career in 1981 as a financial analyst with Lloyds Bank International. Mr. Beckwith has commented on international markets, asset allocation and other financial issues in publications such as The Wall Street Journal, The New York Times, and The Daily Deal, and on television outlets such as CNBC and ABC World News Tonight.

Mr. Beckwith is a Chartered Financial Analyst and member of the Boston Society of Security Analysts. He holds a BA from Trinity College and studied international finance at the Fletcher School at Tufts University. He is also involved with City Year, rides in the Pan Mass Challenge to raise money for the Jimmy Fund and Dana Farber and is a Trustee and rotating investment committee member at the Dedham Institution for Savings.

Christopher M. O'Neill, Ph.D., CFA, CFP®, FRM, ChFC - Rotating Investment Committee Member

Mr. O'Neill is Vice President of Mesirow Financial's Investment Strategies department. He has nearly 20 years of experience in finance and scientific research. He is an expert in the areas of quantitative investment manager selection, Monte Carlo simulation and quantitative finance.

Prior to joining Mesirow Financial, Mr. O'Neill was a research consultant for Ibbotson Associates, where he applied quantitative analysis and product development experience to support the efforts of the Investment Management Services, Fund of Funds and Financial Communications groups. Earlier, he offered quantitative investment advice and methodology to other financial advisors as president and founder of Quantalent Investment Consulting, LLC, an independent Registered Investment Advisor. Also during his accomplished career, Mr. O'Neill spent five years dedicated to financial planning, which culminated in a senior product management role developing a Web-based investment advice tool for a major mutual fund company.

Mr. O'Neill earned his doctor of philosophy and master of science degrees in theoretical physics from Cornell University and an A.B. degree in physics magna cum laude from Princeton University. He is a Chartered Financial Advisor (CFA) charter holder, a Chartered Financial Planner® (CFP) certificant and holds Financial Risk Manager (FRM) and Chartered Financial Consultant (ChFC) designations. In addition, he has published eight papers and academic reports in theoretical particle, accelerator, and gravitational physics.

Mike Annin, CFA - Rotating Investment Committee Member

Mr. Annin is a managing director of Mesirow Financial's Investment Strategies department. He has 20 years of experience in the financial services and investment industry. Most recently, Mr. Annin served as a managing director for Ibbotson Associates, where he managed the company's non-software product initiatives, including investment management, investment consulting, data products and training product lines. During his 12 years with Ibbotson Associates, he was vital in developing investment strategy consulting services which included performance studies based on historical performance data of portfolios under various scenarios. Mr. Annin's extensive career also includes positions with IPC Group, Abbot Laboratories and Bear, Sterns & Company.

Mr. Annin holds a Chartered Financial Analyst (CFA) designation. He earned a master of business administration degree from The University of Texas at Austin and a bachelor of business administration degree from The University of Wisconsin-Madison.

Thomas Champion, CFA - Investment Committee Secretary (non-voting)

Mr. Champion is currently Director -- New Product Development in the ETF Marketplace for the New York Stock Exchange. In his role he works on all phases of product creation for ETFs and other new products. He joined the Amex in 2006. Prior to joining the Amex, Mr. Champion worked as an Assistant Portfolio Manager and Analyst for Victory NewBridge Capital Management and NewBridge Partners, LLC from 1999 until 2005. He began his career at the Campbell, Cowperthwait division of U.S. Trust in 1998.

Mr. Champion is a Chartered Financial Analyst and member of the New York Society of Security Analyst. He received his bachelor's degree in Business Administration with a concentration in Finance from Binghamton University.