| Portfolio
Management Team: |
 Mark
M. Adelmann, CFA, CPA
Vice President and Portfolio Manager*
Joined Investment Adviser: 1995
*
Portfolio Manager since June 3, 2002
Mark, a Vice President of Denver
Investment Advisors, has been a research analyst with the
Value Strategies Group at Denver Investment Advisors since
1995. Prior to joining Denver Investment Advisors, Mark worked
with Deloitte & Touche for 15 years in auditing and financial
reporting. His educational background includes a B.S. from
Oral Roberts University. Mark holds the Chartered Financial
Analyst designation and Certified Public Accountant designation.
Mark is a member of AICPA as well as the CFA Society of Colorado and the CFA Institute.
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 Troy
Dayton, CFA
Vice President and Portfolio
Manager*
Joined Investment Adviser:
2002
*
Portfolio Manager since December 1, 2003
Troy joined Denver Investment
Advisors as a Research Analyst with the Value Strategies Group
in 2002. Prior to joining the firm, he was an Equity Research
Analyst with Jurika and Voyles, as well as an Analyst at Dresdner
RCM Global Investors. He also worked as a Trading Support
Officer for Citibank's Global Asset Management Department
in London, England. Troy earned his B.S. degree from Colorado
State University. Troy holds the Chartered Financial Analyst
designation.
He is member of the CFA Society of Colorado and
the CFA Institute.
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 Kris
Herrick, CFA
Vice
President and Portfolio Manager*
Joined Investment
Adviser: 2000
* Portfolio
Manager since December 1, 2003
Kris joined Denver Investment
Advisors' Value Strategies team as a Research Analyst in 2000.
Prior to joining Denver Investment Advisors LLC, Kris worked
as an analyst with Jurika and Voyles. Kris earned both a B.A.
and a B.S. from the University of Northern Colorado. He holds
the Chartered Financial Analyst designation. Kris
is member of the CFA Society of Colorado and the
CFA Institute.
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 Derek
Anguilm, CFA
Vice
President and Portfolio Manager*
Joined Investment Adviser:
2000
*
Portfolio Manager since December 1, 2003
Derek joined the Value Research
Team in December 2002. He started at Denver Investment Advisors
as a Research Analyst to Wealth Management and Growth investing
style in 2000, after interning as a research assistant on
the MIDCO product. His previous experience includes an internship
as a research assistant at Everen Securities. Derek earned
a B.S. in Finance at Metropolitan State College of Denver
and was President of the Finance Club while there. He is a
member of the CFA Society of Colorado and holds
the Chartered Financial Analyst designation. He
is member of the CFA Society of Colorado and the
CFA Institute.
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