Garrett Thornburg is a recognized leader in innovative investment strategies. He is Chairman of the two Thornburg companies which he founded. The companies share three core attributes: high quality operations, innovative strategies for achieving stated goals, as well as a disciplined approach to managing investments and managing risk.

• Thornburg Investment Management,^® (TIM) established in 1982, is an employee-owned investment firm with over $82 billion in assets* in nine fixed income and seven equity mutual funds which are also available to institutions and individuals as separate accounts. TIM is known for providing Strategies for Building Real Wealth.
• Thornburg Securities Corporation,^® established in 1984, is a broker/dealer firm that distributes Thornburg Mutual Funds.

Prior to moving to Santa Fe in 1982, Mr. Thornburg was employed at Bear, Stearns & Co., where he was a Limited Partner and founding member of its public finance department. Prior to that, he was Chief Financial Officer of New York State’s Urban Development Corporation, where he was instrumental in restoring the company’s financial solvency and structured the development of the first building in Battery Park City. Mr. Thornburg also served as co-financial advisor to the State of New Mexico’s Board of Finance in its first bond refunding activity ever undertaken.

He holds a BA from Williams College and an MBA from Harvard University. He is a member of the Board of Governors of the Investment Company Institute (ICI) and serves on the Board of Directors of both the National Dance Institute of New Mexico and the New Mexico School for the Arts. Mr. Thornburg is a former board member of the National Association of Real Estate Investment Trusts (NAREIT), College of Santa Fe, Santa Fe Community Foundation, and the Santa Fe Institute. Additionally, he leads Thornburg philanthropy to the community as evidenced by the 2010 Philanthropist of the Year Award.

*Assets as of 3/31/2012

Brian McMahon is chief executive officer and chief investment officer for Thornburg Investment Management. He is responsible for the company’s overall investment activity. Brian is also co-portfolio manager of the Thornburg Investment Income Builder Fund, the Thornburg Global Opportunities Strategy, and the Global Equity Income Strategy. He was named CEO in 2008 and president of Thornburg Investment Management in 1997. Brian was portfolio manager of Thornburg’s laddered municipal bond portfolios from their inceptions until 2000 and has been actively involved with the other portfolios analyzing stocks and bonds.

He holds an MBA from Dartmouth College’s Amos Tuck School and a BA in Economics and Russian Studies from the University of Virginia. After receiving his MBA at Dartmouth, Brian joined Norwest Bank in 1979 and held various corporate finance positions before joining Thornburg in 1984 as chief investment officer.

Brian McMahon is chief executive officer and chief investment officer for Thornburg Investment Management. He is responsible for the company’s overall investment activity. Brian is also co-portfolio manager of the Thornburg Investment Income Builder Fund, the Thornburg Global Opportunities Strategy, and the Global Equity Income Strategy. He was named CEO in 2008 and president of Thornburg Investment Management in 1997. Brian was portfolio manager of Thornburg’s laddered municipal bond portfolios from their inceptions until 2000 and has been actively involved with the other portfolios analyzing stocks and bonds.

He holds an MBA from Dartmouth College’s Amos Tuck School and a BA in Economics and Russian Studies from the University of Virginia. After receiving his MBA at Dartmouth, Brian joined Norwest Bank in 1979 and held various corporate finance positions before joining Thornburg in 1984 as chief investment officer.

Connor Browne is a managing director and co-portfolio manager of the Thornburg Domestic Equity Strategy. His responsibilities include portfolio management, research, and analyzing companies for consideration in the Thornburg equity strategies. He is responsible for evaluating existing positions and overall fund performance.

Connor joined Thornburg Investment Management is August of 2001 as an associate portfolio manager and in 2006 was promoted to co-portfolio manager for the Domestic Equity Strategy. He was also named managing director. Connor graduated Cum Laude from Princeton University with a BA in Economics and a certificate in Finance. He is a CFA charterholder.

Tim Cunningham is a managing director and co-portfolio manager of the Thornburg All Cap Growth Strategy and the Thornburg International Growth Strategy. His responsibilities include portfolio management and analysis of companies as well as evaluation of existing positions and overall equity strategy performance. Tim joined Thornburg as an equity research associate in July of 2007, was named associate portfolio manager in 2009, elected managing director in 2010, and named co-portfolio manager in 2012.

Prior to graduate school, Tim was a research associate at Insight Capital Research & Management in Walnut Creek, California. Tim holds a BA in Finance from the University of Nevada. He received his MBA from the Leeds School of Business at the University of Colorado at Boulder. He is a CFA charterholder.

Greg Dunn is a managing director and co-portfolio manager for the Thornburg All Cap Growth Strategy and the Thornburg International Growth Strategy. His responsibilities include portfolio management and analysis of companies as well as evaluation of existing positions and overall equity strategy performance. Greg joined Thornburg in 2002 as research communications director for the marketing department and was promoted to equity research associate in 2005, was named associate portfolio manager in 2008, and elected managing director in 2009.

Prior to joining Thornburg, Greg was an investment management analyst for Smith Barney. Greg holds a BS in Business with a concentration in Finance from Colorado State University and an MBA from Duke University's Fuqua School of Business.

Bill Fries is a managing director and co-portfolio manager of the Thornburg International Equity Strategy. Bill joined Thornburg in 1995 as managing director and founding portfolio manager of the Thornburg Value Fund and subsequent Domestic Equity Strategy. In 1998, he also founded the Thornburg International Value Fund and subsequent International Equity Strategy. His responsibilities include portfolio management and analysis of companies as well as evaluation of existing positions and overall equity strategy performance.

Bill began his career as a securities analyst and bank investment officer. His 40 plus years of investment management experience includes an extended tenure as vice president of equities at USAA Investment Management Company. Bill is a CFA charterholder.

Lewis Kaufman is a managing director, portfolio manager of the Thornburg Developing World Strategy, and co-portfolio manager of the Thornburg International ADR portfolio. Lewis joined Thornburg Investment Management in 2005 as an associate portfolio manager. In 2006, he was promoted to co-portfolio manager of the ADR portfolio and named managing director. In 2009, he was named portfolio manager of the Developing World Fund.

Prior to joining Thornburg, Lewis held various investment related positions at Morgan Stanley and Citigroup. Lewis holds a Masters in Business Administration from Duke University’s Fuqua School of Business and graduated Cum Laude from Colgate University with a BA in English. He is a CFA charterholder.

Edward Maran is a managing director and co-portfolio manger of the Thornburg Domestic Equity Strategy. His responsibilities include portfolio management and analyzing companies. Ed is also responsible for evaluating existing positions and overall portfolio performance.

Ed joined Thornburg Investment Management as an associate portfolio manager in 2002, and was named managing director in 2004. In 2006, Ed was promoted to co-portfolio manager of the Domestic Equity Strategy. Prior to joining Thornburg, Ed was the analyst with primary responsibility for the financial services stocks at USAA Investment Management Company. He has also worked as a financial analyst at British Petroleum, as a private equity investment analyst at Kling, Rechter & Co., and as the senior analyst covering major oils at A.G. Edwards & Sons. Ed received a BS from the United States Military Academy at West Point and an MBA in Finance from the University of Chicago. He is a CFA charterholder.

Wendy Trevisani is a managing director and co-portfolio manager of the Thornburg International Equity Strategy and related separate account strategies, as well as the International ADR Strategy.

Wendy joined Thornburg Investment Management as an associate portfolio manager in 1999, and was named managing director in 2003. She has been a portfolio manager on the International ADR strategy since inception, and was promoted to co-manager of the Thornburg International Equity Strategy in 2006. Prior to joining Thornburg, Wendy began her investment career as an institutional sales and trading representative for Salomon Smith Barney in both New York City and London. Wendy received an MBA with a concentration in Finance from Columbia University and graduated Cum Laude with a BA degree in International Relations from Bucknell University.

Vinson Walden is a managing director and co-portfolio manager for the Thornburg Global Opportunities Strategy. He has also been a member of the portfolio management team for the Thornburg Domestic and International Equity Strategies since joining the firm in 2002. His responsibilities include portfolio management and analysis of companies as well as evaluation of existing positions and overall equity strategy performance.

Prior to joining Thornburg, Vinson served as an Associate for Lehman Brothers in New York City. He holds a BS from Boston University and an MBA from Columbia University. He is also a CFA charterholder.

Lei Wang is a managing director and co-portfolio manager of the Thornburg International Equity Strategy. His responsibilities include portfolio management and analysis of companies as well as evaluation of existing positions and overall equity strategy performance.

Lei Wang joined Thornburg Investment Management in 2004 as an associate portfolio manager and in 2006 was promoted to co-portfolio manager for the International Equity Strategy and was also named managing director. Prior to joining Thornburg, Lei served as an associate for Deutsche Bank as well as Enso Capital Management. He has also worked as a bank supervision manager at China’s central bank. Lei holds a BA and an MA from East China Normal University and an MBA from New York University. He is a CFA charterholder.

Rolf Kelly is an associate portfolio manager for Thornburg Investment Management. His primary responsibility involves analyzing companies for the Equity Strategies. Rolf joined Thornburg in August of 2007 as an equity research analyst and was promoted to associate portfolio manager in 2011.

Prior to graduate school, Rolf worked as a reservoir engineer for ExxonMobil managing oil and gas fields in South Texas, the Rocky Mountains, and the North Slope of Alaska. Rolf holds a BA in geological engineering from the Colorado School of Mines and an MBA from Duke University. He is a CFA charterholder.

Ben Kirby is an associate portfolio manager for Thornburg Investment Management. His primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. Ben joined Thornburg in July of 2008 as an equity research analyst and was promoted to associate portfolio manager in 2011. Prior to graduate school, Ben was a software engineer at Pinnacle Business Systems in Oklahoma City, OK.

Ben holds a BA in Computer Science from Fort Lewis College and an MBA from Duke University.

Robert MacDonald is an associate portfolio manager for Thornburg Investment Management. His primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. Robert joined Thornburg in June of 2007.

Prior to graduate school, Robert was an investment associate at Putnam Investments in Boston, covering the telecommunications industry. Robert holds a BA in Economics and Computer Science from Amherst College, where he was an All-American in hockey. He received his MBA from the University of Chicago and he is a CFA charterholder.

Nick Schommer is an associate portfolio manager of the Thornburg Global Opportunities Fund. His primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. Nick joined Thornburg in January of 2012.

Prior to joining Thornburg, Nick worked as a senior research analyst at Marsico Capital Management in Denver. Before Marsico, Nick served five years in the U.S. Army as a Field Artillery Officer. He holds a BS in Chemistry from the United States Military Academy at West Point and an MBA from UCLA Anderson. He is a CFA charterholder.

Connor Wilson is an associate portfolio manager for Thornburg Investment Management. His primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. Connor joined Thornburg in July of 2007 as an equity research analyst and was promoted to associate portfolio manager in 2011.

Connor holds a BA in Government from Harvard University. He is a CFA charterholder.

Jim Gassman is a senior equity research analyst at Thornburg Investment Management. His primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. Jim joined Thornburg in July of 2011.

Prior to joining Thornburg, Jim worked as a senior equity analyst at Baird Investment Management based in Milwaukee. Before Baird, Jim worked as an analyst and portfolio manager for AIM Investments in Houston and San Francisco. He graduated from the University of the Pacific with a BS degree in Business Administration and from Tulane University with an MBA.

Tamara Manoukian is an equity research analyst at Thornburg Investment Management. Her primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. Tamara joined Thornburg in February of 2010.

Prior to joining Thornburg, she worked as an investment analyst at Greenwood Investments based in Boston. Tamara graduated cum laude from Boston University School of Management with a BS degree in Business Administration with a concentration in Finance. She is a CFA charterholder.

Michael Roberge is an equity research analyst for Thornburg Investment Management. He joined the firm in 2012.

Michael earned a BS in management, with an emphasis in finance, from Brigham Young University. He has passed the CFA level I and II exams, and is a CFA level III candidate. Prior to joining Thornburg, he served as a research associate at Brandes Investment Partners in San Diego, where he covered domestic and international industrials. Michael also interned as a global data analyst at Bloomberg LP.

Edward Su is an equity research analyst at Thornburg Investment Management. His primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. He joined Thornburg in November of 2011.

Prior to joining Thornburg, Ed worked as a research analyst at Crystal Rock Capital. Ed holds a BS in Business Administration from the University of North Carolina at Chapel Hill and an MBA from the University of Chicago Booth School of Business. He is a CFA charterholder.

Sean Sun is an equity research analyst for Thornburg Investment Management. His primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. He joined Thornburg in January of 2012.

Prior to joining Thornburg, Sean held portfolio analysis and modeling positions at Bank of America. Prior to graduate school, he was a product manager at HSBC. Sean graduated with a BA in Economics from the University of California at Berkeley and an MBA from the University of Chicago Booth School of Business. He is a CFA charterholder.

Di Zhou is an equity research analyst at Thornburg Investment Management. Her primary responsibilities include research and analysis of companies for consideration in the Equity Strategies. She joined Thornburg in September of 2010. Prior to graduate school, Di was a senior associate at Wilshire Associates Incorporated covering Growth Equity and Fixed Income investment manager research.

Di holds a BA in Business Administration from University of Southern California and an MBA from the University of Chicago Booth School of Business. She is a CFA charterholder and a certified FRM (Financial Risk Manager) holder.

Jason Brady is a managing director for Thornburg Investment Management. He is the portfolio manager of the Thornburg Limited Term U.S. Government Strategy and co-portfolio manager of the Thornburg Limited Term Income Strategy and the Thornburg Investment Income Builder Fund and Thornburg Strategic Income Strategy.

Jason joined Thornburg in 2006 as an associate portfolio manager and was named managing director in 2007. Prior to joining Thornburg, he was a portfolio manager with Fortis Investments in Boston, MA, and has held various positions at Fidelity Investments and Lehman Brothers. Jason holds a BA with Honors in Environmental Biology and English from Dartmouth College and an MBA with concentrations in Analytical Finance and Accounting from Northwestern’s Kellogg Graduate School of Management. He is a CFA charterholder.

Lon Erickson is a managing director and co-portfolio manager for the Thornburg Limited Term Income Strategy. He is responsible for the analysis and management of Taxable Fixed Income Securities as well as Private Accounts.

Lon joined Thornburg in 2007 and was elected managing director in 2009 and co-portfolio manager in 2010. Prior to joining Thornburg, Lon spent almost 11 years as an analyst for State Farm Insurance in both the Equity and Corporate Bond Departments. Lon earned his BA in Business Administration with a minor in Economics from Illinois Wesleyan University and his MBA from the University of Chicago Graduate School of Business. Lon is a CFA charterholder.

Josh Gonze is a managing director and co-portfolio manager for Thornburg Municipal Bond Strategies. He is responsible for credit analysis for new bond transactions, monitoring credit quality within the portfolios, and evaluation of sector-wide credit trends. His scope of activity includes assessment of industry, business, and financial risk, including calculation of financial and operating ratios. He also assists in trading bonds for both the mutual funds and private accounts.

Josh joined Thornburg Investment Management in 1999, and was named managing director in 2003. He was promoted to co-portfolio manager in 2007. Prior to joining Thornburg, Josh served as an associate director at Standard and Poor’s, where he set credit ratings for corporate bonds. Prior to Standard and Poor’s, Josh worked in corporate banking at the Toronto-Dominion Bank in New York. Josh holds a BA in economics from Oberlin College and an MBA in finance from the New York University School of Business.

Christopher Ihlefeld is a managing director and co-portfolio manager of Thornburg Municipal Bond Strategies. Christopher specializes in the trading, monitoring, and structuring of Municipal Bond Strategies.

Christopher joined Thornburg Investment Management as a dealer services representative in 1996. Prior to joining the portfolio management team he served at Thornburg as an information technology specialist and program analyst. In 2006, Christopher was elected managing director and 2007, was promoted to co-portfolio manager. Christopher holds a BA in Liberal Arts from Rollins College and an MBA in Finance from the College of Santa Fe.

Christopher Ryon is a managing director for Thornburg Investment Management and co-portfolio manager of the Thornburg Municipal Bond Funds. Chris specializes in the trading, monitoring, and structuring of municipal bond strategies.

Chris joined Thornburg in 2008 and was elected managing director in 2009. He has 25 years of investment management experience. Before joining Thornburg, Chris served as head of the Long Municipal Bond Group for Vanguard Funds. There, he oversaw the management of over $45 billion in 12 intermediate- and long-term municipal bond funds.

Chris holds a BS from Villanova University and an MBA from Drexel University. He is also a CFA charterholder.

George Strickland is a managing director for Thornburg Investment Management and co-portfolio manager of the Thornburg Strategic Income Fund. He joined Thornburg Investment Management as an associate portfolio manager in 1991, and was elected managing director in 1996. Until 2010, he managed the Thornburg Municipal Bond Portfolios.

Prior to joining Thornburg, George began his financial career with the Calvert Group and has his BA in Economics from Davidson College and his MBA in Finance from the University of Maryland.

Dave Ashley joined Thornburg Investment Management as an associate portfolio manager in May of 2011. He assists in managing Thornburg’s municipal bond strategies and separate accounts.

Prior to joining Thornburg, Dave was a credit analyst for Wilmington Trust. Dave earned both his BS in Finance and MBA from the University of Delaware. He is also a CFA charterholder.

David Musolf is an assistant portfolio manager for Thornburg Investment Management. He assists in managing Thornburg’s taxable bond strategies and separate accounts. David joined Thornburg as an associate in March of 2007 and became an assistant portfolio manager in 2011.

Prior to joining Thornburg in 2007, David worked as a Senior Credit Analyst for Bank of America and MBNA. David received a BA in Sociology from Youngstown State University.

Daniel Petrush joined Thornburg Investment Management as an assistant portfolio manager in March of 2010 and was promoted to associate portfolio manager in 2012. Daniel helps manage Thornburg's Municipal Bond Strategies.

Prior to joining Thornburg, Daniel held analyst positions at Great-West Life in Denver and Lehman Brothers in New York. Daniel earned his B.S. in finance from Syracuse University.

Nicholos Venditti is an associate portfolio manager of the Thornburg Municipal Strategies. His primary responsibilities involve monitoring existing portfolio positions as well as analyzing potential new acquisitions. Nick joined Thornburg in April of 2010 as a fixed income research analyst and was promoted to associate portfolio manger in 2011.

Prior to joining Thornburg, Nick spent the last three years working as assistant vice president for the bond insurer, FSA (now merged with Assured Guaranty Corp). Nick has a Masters of Science in Finance from Syracuse University, a Masters of Arts in Applied Economics from the University of North Carolina – Greensboro, and a BA degree from Trinity University.

Jeff Klingelhofer is a fixed income analyst for Thornburg Investment Management. He is responsible for analyzing new and existing portfolio positions in addition to portfolio analytics for the firm’s taxable fixed income portfolios. Jeff joined Thornburg in July of 2010.

Prior to joining Thornburg, Jeff spent four years with PIMCO in their Newport Beach, Tokyo and London offices where he was responsible for monitoring portfolio leverage and risk tolerances. Jeff also worked as CMBS ratings intern with DBRS in addition to interning with the CalPERS alternative assets team. Jeff earned his BA in Economics with a minor in Business from The University of California at Irvine and his MBA from The University of Chicago Booth School of Business.

Peter Trevisani is a managing director for Thornburg Investment Management. He joined Thornburg as the head of the Institutional Group in 2001 and was named managing director and partner in 2004. Peter oversees all facets of the Institutional Group including operations, customer service, consultant relations, and marketing. Prior to joining Thornburg, Peter served in the Lehman Brothers’ London office starting in 1996 where he spent three years in the foreign exchange and equity division working closely with top global customers. Between 1998 and 2001, Peter founded and acted as CEO of Waybid Technology, a company that created liquidity for online business-to-business marketplaces.

Peter received his MBA in finance from Columbia Business School and his BA in Marketing from Boston College, where he was also a member of the varsity football team. Peter earned his Chartered Financial Analyst designation in 2004 and serves on the Board of the CFA Society of New Mexico. ptrevisani@thornburg.com

Frances D’Alessio is a managing director for Thornburg Investment Management and portfolio specialist with the Institutional Group. She serves as a liaison between the equity team and the institutional consultant/plan sponsor channels. Additionally, she is responsible for client servicing and business development.

Prior to joining Thornburg, she was employed by Lord Abbett as a client portfolio manager for their Large Cap Value and Multi Cap Value Institutional Client Service Group. Before that, she was a senior portfolio specialist for their Large Cap SMA strategy, having joined Lord Abbett in 1997 as a client relations manager. As a client portfolio manager, she was responsible for managing and servicing 40 institutional clients with over $1 billion in total assets. Prior to joining Lord Abbett, she was employed by Merrill Lynch as a district account associate.

Frances earned her MBA from Thunderbird School of Global Management, with honors; her MA in International Affairs from Drew University in Madison, New Jersey; and her BA in Political Science from William Paterson University in Wayne, New Jersey. She is currently registered with FINRA with a Series 7, 6, 63, 65 and 24. fdalessio@thornburg.com

Randy Dry is a managing director for Thornburg Investment Management. He is responsible for overseeing Thornburg’s separate account group including business development, client service and operations. Randy joined Thornburg Investment Management in March 2001 as an Associate Portfolio Manager and was promoted to Director of Separate Accounts in March 2002.

Prior to joining Thornburg, Randy worked at Davis Advisors in Santa Fe. At Davis, Randy was responsible for the strategy execution and trading of the separate accounts and mutual funds. In addition, Randy helped Davis develop and launch their managed account business. Randy earned a BBA in Finance from the University of New Mexico’s Anderson School of Management. rdry@thornburg.com

Bettie Kroutil is a managing director for Thornburg Investment Management. Her main responsibilities include serving as the client point-of-contact for reporting needs and ad hoc requests, coordinating new account openings, supervising, and overseeing and reviewing the daily/monthly reconciliations and client reporting.

Prior to joining Thornburg, Bettie was manager of Equity Portfolio Accounting (separate accounts) at T. Rowe Price Group in Baltimore, MD. Over a 10-year period, she worked in various roles at T. Rowe Price to include a large portion in equity fund accounting. Bettie earned a BS in Accounting from Towson University. bkroutil@thornburg.com

Sloan Swanson is a managing director for Thornburg Investment Management and director of Business Development in the Institutional Group. He joined Thornburg as an inside sales coordinator in 2001 where he worked closely with financial planners and investment advisors. In 2004, Sloan moved to the separate account group to focus on marketing and customer service for Thornburg’s institutional client base. In addition to working with our public pension and corporate clients, Sloan acts as a liaison to the Institutional consultant community.

Sloan holds a BA from the University of Connecticut. He is currently registered with FINRA with a Series 7 & 63. sswanson@thornburg.com

Dana Dean is the director for Institutional Marketing Communications in the Institutional Group at Thornburg Investment Management. Dana’s main responsibilities include marketing and client service.

Prior to joining Thornburg, Dana worked for Marriott International for five years where she served as a director of Internal Audit and later as director of International Lodging Finance. Prior to Marriott, Dana was a senior manager at Ernst & Young LLP specializing in auditing and consulting for the financial services sector. She also served as a national subject matter expert for the firm in financial services. Dana is a graduate of Texas A&M University-Corpus Christi. ddean@thornburg.com

Scott Morrissey joined Thornburg Investment Management in May of 2011 as a portfolio specialist in the Institutional Marketing Communications group. His main duties involve client service and marketing.

Prior to joining Thornburg, Scott served as vice president, research analyst, and regional manager at Firemark Investments in Santa Fe, NM. He also served as a financial advisor at Waddell & Reed Inc. He graduated from Union College in Schenectady, NY with a BA in English. He is currently registered with FINRA with a Series 7 and 66. smorrissey@thornburg.com

Tendai Shereni is a portfolio specialist in the Institutional Marketing Communications Group at Thornburg Investment Management. He joined Thornburg as an associate in October 2008. His main responsibilities include marketing, client servicing, and business development.

Prior to joining Thornburg, he held financial analyst positions in the investment banking divisions at Morgan Stanley and Deutsche Bank in New York City, and at BGK Group in Santa Fe where he was a financial analyst for the acquisitions and due diligence department respectively.

Tendai graduated magna cum laude from Morehouse College in Atlanta with a B.A. degree in Business Administration with a Finance concentration. He is currently registered with FINRA with a Series 7, 63 and 66. tshereni@thornburg.com

Wayne Redmond is the director of product services for Thornburg Investment Management. He is responsible for marketing and servicing retail private accounts.

Prior to joining Thornburg, Wayne had nearly 20 years experience in the brokerage industry. Most recently, he spent over 12 years with Southwest Securities in Dallas, TX as vice president and manager of Special Products. Wayne holds a BSBA degree from Bucknell University and is a graduate of the Securities Industry Institute at The Wharton School in Philadelphia, PA. He is currently registered with FINRA with a Series 7 and 65. wredmond@thornburg.com

Christa Maxwell is a senior client service executive for the Institutional Group at Thornburg Investment Management. Her main responsibilities are servicing Thornburg's Institutional client base and business development. Additionally, Christa serves as a liaison between the equity team and the institutional consultant/plan sponsor channels. Prior to joining Thornburg, Christa worked as a Financial Advisor for Morgan Stanley.

Christa received a BBA with a concentration in Finance from the University of New Mexico. She is currently registered with FINRA with a Series 7 & 66. cmaxwell@thornburg.com

Heather Conforto is a senior portfolio specialist for the Institutional Group at Thornburg Investment Management. She is primarily focused on managing and cultivating institutional relationships, specifically within the consulting community.

Prior to joining Thornburg, Heather worked for Palisades Investment Partners in Santa Monica, CA. At Palisades, she was in charge of all institutional business development, client service and marketing. Heather is a graduate of Miami University of Ohio. hconforto@thornburg.com

Don Brunton is a senior separate accounts associate for the Institutional Group at Thornburg Investment Management. His main responsibilities include preparing monthly and quarterly client reports, daily/monthly reconciliation, supervising, and reviewing monthly reconciliations and client reporting prepared by the Institutional accounts team.

Don received both a BBA and MBA with a concentration in Finance from the University of New Mexico’s Anderson School of Management. dbrunton@thornburg.com

Melissa Pitzen is a senior associate for Thornburg Investment Management. She is responsible for overseeing the daily operations of the separate accounts group. Melissa joined Thornburg Investment Management in October of 2007.

Prior to joining Thornburg, Melissa managed an operations team for Santa Fe Trust Company. Previous to this, she had several years of experience in various positions at Fidelity Investments; working in both the institutional and trust operations areas. Melissa holds a BS in Actuarial Mathematics from Worcester Polytechnic Institute in Worcester, MA. mpitzen@thornburg.com

Karen Schaefer is a senior associate in the Institutional Group at Thornburg Investment Management. Karen’s main responsibilities include client reporting and servicing, commingled funds’ administration and she serves as a liaison between the Firm’s Compliance Department and the Institutional Group. She is also the Proxy Coordinator for the Firm.

Prior to joining Thornburg, Karen worked in public accounting, specializing in tax, and then worked for five years as the Compliance Officer of a bank located in New Mexico. She is a Certified Public Accountant (CPA) and a summa cum laude graduate of San Diego State University. kschaefer@thornburg.com

Rene Alarid is a senior operations associate for the Institutional Group at Thornburg Investment Management. Her main responsibilities include new account openings, client reporting, supervising, daily/monthly reconciliation, and reviewing monthly reconciliations and client reporting prepared by the Institutional accounts team.

Rene earned a BBA in Accounting from the University of New Mexico’s Anderson School of Management. ralarid@thornburg.com

Monte Dop is a business development associate for Thornburg Investment Management in the institutional group. Monte joined Thornburg in June of 2009 and his primary focuses are business development and institutional client servicing. Prior to joining Thornburg, he was employed by AIG SunAmerica as a research analyst where his responsibilities included manager due-diligence for sub-advised portfolios with assets in excess of $4 billion. Prior to his role as a research analyst, Monte served as a senior internal wholesaler for SunAmerica marketing traditional and alternative investment products to advisors.

Monte is a graduate of University of California-Santa Barbara. He is also a CFA level II candidate and is currently registered with FINRA with a Series 7, 63, and 65. monte.dop@thornburg.com

Joe Dinan joined Thornburg Investment Management as an associate in the Institutional Group in August 2008. Joe’s main responsibilities include marketing, client servicing, and business development.

Prior to joining Thornburg, Joe worked for Merrill Lynch on the private wealth management side, delivering planning and investment guidance to individual investors. Joe has a masters degree from the University of Texas – Austin. He is currently registered with FINRA with a Series 7 and 66. jdinan@thornburg.com

John Dowell joined Thornburg Investment Management (TIM) as an associate for the Institutional Marketing Communications group in March 2010. He is responsible for the marketing and client service for Thornburg’s institutional client base.

Prior to joining TIM, John worked for seven years in the capital markets sector of the mortgage industry. John holds a BA in Economics from St. Lawrence University in Canton, NY. jdowell@thornburg.com

Eric is a client service associate for Thornburg Investment Management. His primary responsibilities include marketing, client servicing, and business development. Eric joined Thornburg Investment Management in September 2009.

Prior to joining Thornburg, Eric held several positions at T. Rowe Price delivering planning and investment guidance to individual investors. Eric is also a veteran of the U.S. Army. Eric holds a BS in Finance from the University of Phoenix. He is currently registered with FINRA with a Series 6, 7, 63, 66 and 24. He is also a CFA Level III Candidate. eedmond@thornburg.com