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Portfolio Management Changes Announced by Edge Asset Management
Effective January 1, 2010, Edge Asset Management has expanded the investment team of the Strategic Asset Management (SAM) Portfolios and announced a Portfolio Manager change for two fixed-income funds.
Shareholders will be notified of the changes in a prospectus supplement included with 12/31/2009 account statements.
Expanded Leadership for SAM Team
The investment management team of the SAM Portfolios will now be led by three seasoned investment professionals contributing more than 52 years of combined investment expertise.
- Todd Jablonski, CFA, joins Edge Asset Management and the SAM team as a Portfolio Manager, following a comprehensive national search.
- Charles D. Averill, CFA, a 19-year Edge employee, has been promoted to Portfolio Manager from his position as Senior Quantitative Analyst on the SAM team for the last 10 years.
- Jill Cuniff, President of Edge Asset Management, also joins the SAM team as a Portfolio Manager.
Seasoned Asset Allocation Investment Professionals
Jablonski brings a strong investment track record in both asset allocation and active quantitative equity portfolios to the team. Most recently, he served as Executive Director and Portfolio Manager at UBS, where he was responsible for U.S. active quantitative strategies. Prior to UBS, he was Lead Portfolio Manager for U.S. large-cap strategies at Credit Suisse Asset Management.
Jablonski’s asset allocation expertise was originally developed at Banc of America Capital Management, where he identified strategic and tactical asset allocation strategies across all asset classes. He holds an MBA with emphasis on Quantitative Finance from New York University’s Stern School of Business and a Bachelor’s Degree in Economics from the University of Virginia.
Averill, in his previous team position, was instrumental in the development of the structural model underlying the SAM process and in delivering strong investment performance for the Portfolios. Prior to joining Edge, he taught economics at Gonzaga University. Averill earned a Master’s Degree in Economics from Princeton University and a Bachelor’s Degree in Economics from Reed College.
Since assuming the role of President of Edge in 2009, Cuniff has worked closely with the SAM team to develop investment themes and to evaluate potential efficiencies and enhancements to the SAM investment process. Prior to joining Edge, she served as President of Morley Financial, a Principal Global Investors subsidiary headquartered in Portland, Oregon, and she has held the roles of Chief Investment Officer and Portfolio Manager during her 22 years in the investment management industry. She holds a Bachelor’s Degree in Business Finance from Montana State University.
Consistency of SAM Team Management to be Maintained
The expanded team is committed to developing and overseeing future asset allocation strategies in a manner consistent with the SAM Portfolios’ stated investment objectives and in collaboration with other long-term team members, including Senior Investment Analyst Nicolé Verbrugghe, CFA, and Investment Analyst Crystal Lockwood. Both Verbrugghe and Lockwood have been part of the Edge team for over eight years. Dirk Laschanzky, CFA, will continue to provide asset allocation expertise during the transition period.
Fixed-Income Portfolio Management Changes Effective January 1, 2010
Scott Peterson, CFA, a seven-year Edge employee, will assume portfolio management responsibilities for the Principal Short-Term Income Fund and Principal Government & High Quality Bond Fund following the retirement of 11-year Edge veteran Craig Sosey.
Peterson, as a senior member of the Edge fixed-income team, has provided support in the management of all Edge-advised fixed-income funds. Prior to joining Edge, Peterson was the manager of research at Frank Russell Company and has over 16 years of experience in investment and financial analysis. Peterson has a Bachelor’s Degree in Mathematics from Brigham Young University and an MBA from New York University’s Stern School of Business.
About Edge Asset Management
Edge Asset Management (formerly WM Advisors) has been a pioneer in the field of actively managed asset allocation funds and is a leading manager of value equities and taxable fixed-income securities, with an investment management history dating back to 1939. Edge has $10.8 billion in equity and fixed-income assets, as of September 30, 2009. Based in Seattle, Edge is an affiliate of Principal Global Investors, and a member of the Principal Financial Group®.
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To obtain a prospectus, download online or call Customer Service at 1.800.222.5852
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