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2011 Tax Insert

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Investment Team

Tim Clift - Chief Investment Officer

Timothy Clift is the Chief Investment Officer, Chairman of the Investment Committee, and Lead Fund Manager for the ActivePassive Funds© at FundQuest. He joined FundQuest in 1994 and maintains overall responsibility for the firm's investment management programs for separately managed accounts, mutual funds, alternative investments, exchange traded funds and annuities. As Chairman of the Investment Committee, Mr. Clift heads a team of analysts and portfolio managers that produce the firm's research and recommendations. Prior to FundQuest, Mr. Clift worked for Donaldson, Lufkin & Jenrette where his responsibilities included asset management, research, and sales.

Mr. Clift possesses over 20 years of industry and investment management experience. He holds a Bachelor of Arts in Economics from Allegheny College and a Masters in Business Administration from Boston University.

Gregory Classen, CFA - Manager, Investment Management & Research

Gregory Classen, CFA, is the Manager of Investment Management & Research and a member of the Investment Committee at FundQuest. He is responsible for the management of the ActivePassive Large Cap Growth Fund™, ActivePassive Large Cap Value Fund™, and ActivePassive Small/Mid Cap Fund™. He joined FundQuest in 1998 and is responsible for the research of mutual funds, exchange traded funds, variable annuities and offshore funds as well as the management of client assets.

Mr. Classen has over 10 years of industry and investment management experience. He earned his Bachelor of Arts in Economics from Williams College and maintains the Chartered Financial Analyst (CFA) designation.

Daphne Gu, CFA - Senior Analyst

Daphne Gu, CFA , is a Senior Analyst and member of the Investment Committee at FundQuest. Her responsibilities include the research of mutual funds and exchange traded funds, as well as the management of client assets. Additionally, she acts as co-manager to the ActivePassive Global Bond Fund™ and ActivePassive Intermediate Municipal Bond Fund™. Prior to joining FundQuest in 2007, Ms. Gu held positions in financial and international market analysis with Textron, Inc. in the United States, Europe and Asia from 1998 through 2007, where she provided financial analysis and support communications to the investment community and worked closely with buy- and sell-side analysts.

Ms. Gu possesses over 13 years of financial and investment management experience. She holds a Bachelor of Science in English for Science and Technology from Shanghai JiaoTong University, a Masters in Business Administration from Nanyang Technological University in Singapore, and a Masters in Finance from Boston College. Ms. Gu is also a Chartered Financial Analyst (CFA) charterholder and member of the Boston Security Analysts Society.

Frank Wei, CFA - Senior Analyst

Frank Wei, CFA, is a Senior Analyst and member of the Investment Committee at FundQuest. He joined FundQuest in 2001 and is responsible for the management and due diligence of separately managed accounts offered through FundQuest. Additionally, Mr. Wei acts as co-manager to the ActivePassive International Equity Fund™, ActivePassive Global Bond Fund, ActivePassive Intermediate Taxable Bond Fund™ and ActivePassive Intermediate Municipal Bond Fund. Prior to joining FundQuest, he was a Research Analyst at Salomon Smith Barney and an Equity Analyst at ABN AMRO Securities and has over 16 years of industry and investment management experience.

Mr. Wei holds a Bachelor of Science in Economics from East China Normal University, a Masters of Business Administration from the Leonard N. Stern School of Business at New York University, and maintains the Chartered Financial Analyst (CFA) designation.

Matt Whitbread, CFA, CAIA - Senior Analyst

Matthew Whitbread, CFA, CAIA, is a Senior Analyst and member of the Investment Committee at FundQuest. His responsibilities include the research of mutual funds, exchange traded funds, offshore funds and alternative investments, as well as the management of client assets. Mr. Whitbread also co-manages FundQuest's ActivePassive International Equity Fund and ActivePassive Intermediate Taxable Bond Fund. Prior to joining FundQuest in 2008, he was a Senior Portfolio Analyst at Pyramis Global Advisors and an Equity Research Associate at MFS Investment Management. Additionally, he has held positions in corporate actions and custody at MFS and Investors Bank and Trust, respectively.

Mr. Whitbread possesses over 10 years of industry and investment management experience. He holds a Bachelor of Science in Economics and Finance from Boston College Carroll School of Management and maintains the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations.

Melissa, CFA - Senior Analyst

Melissa Peterson, CFA, is a Senior Analyst and member of the Investment Committee and supports FundQuest's ActivePassive products. She joined FundQuest in 2010 and is responsible for the oversight of mutual funds, exchange traded funds, variable annuities and offshore funds, as well as the management of client assets. Prior to joining FundQuest, Ms. Peterson held positions at John Hancock Financial Services and Karpus Investment Management as a Senior Investment Analyst and Equity Analyst, respectively.

Ms. Peterson has over 8 years of industry and investment management experience. She received her Bachelor of Arts in Economics from The College of Wooster and holds the Chartered Financial Analyst (CFA) designation.