Essex Investment Management Company, LLC

Stephen D. Cutler, C.F.A.

President, Managing Principal & Portfolio Manager

Steve is the President of Essex and has direct portfolio management responsibilities for the Large Capitalization strategy. As one of Essex’s three Managing Principals, he is responsible for the overall management of Essex. Prior to joining Essex in 1989, Steve was President and Director of Baring America (formerly Endowment Management & Research Corp.) for eighteen years. Prior to Baring, Steve was Director of Investments and Portfolio Manager for the Massachusetts Company and was a Portfolio Manager and Analyst for five years at Keystone. Steve is a member of the Boston Security Analysts Society and is a Chartered Financial Analyst. He serves as a Trustee of Babson College and is a member of the Investment Committee of the South Shore YMCA. Steve earned his A.B. degree from Brown University and received his M.B.A. from Babson College.

Christopher P. McConnell, CPA

Chief Executive Officer, Chief Compliance Officer & Managing Principal

As Chief Executive Officer, Chris is responsible for the overall management of our firm. He oversees all of the Firm’s legal and administrative issues. Chris is also a member of the Firm’s Management Board. Before joining Essex in 1993, Chris was a Senior Tax Manager with Deloitte & Touche, LLP for ten years. He is a Certified Public Accountant registered in both Massachusetts and Texas. Chris is a member of the Advisory Board of Northeastern University Graduate Tax Program and is an adjunct professor of the Graduate Tax Program. He is also a member of AICPA and the Massachusetts Society of Certified Public Accountants. He received his B.S. degree from Northeastern University and his M.S.T. from the University of Houston.

Joseph C. McNay

Chairman, Chief Investment Officer & Managing Principal

Joe is Chairman and Chief Investment Officer of Essex. In addition to his direct portfolio management responsibilities on a variety of funds, Joe oversees all of Essex’s investment strategies. As one of Essex’s four Managing Principals, he is responsible for the overall management of Essex. Prior to founding Essex in 1976, Joe was Executive Vice President and Director of Endowment Management & Research Corp. for nine years. Before 1967, Joe was Vice President and Senior Portfolio Manager at the Massachusetts Company. Currently he is serving as Trustee of National Public Radio, Trustee and Chairman for the Investment Committee of Simmons College, Trustee of the Dana Farber Cancer Institute, and is a Trustee and member of the Children’s Hospital Investment Committee. He received his A.B. degree from Yale University and his M.B.A. degree from the Wharton School of Finance.