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Anthony R. Manno, Jr., CPA, is chief executive officer, president and chief investment officer of Security Capital Research & Management Incorporated and chairman of Security Capital Preferred Growth Incorporated. Prior to joining Security Capital in 1994, Anthony was a managing director at LaSalle Partners Limited, responsible for real estate investment banking activities. Anthony began his career in real estate finance at The First National Bank of Chicago and has 34 years of experience in the real estate investment business.Education
Kenneth D. Statz is a managing director and senior market strategist for Security Capital Research & Management Inc. where he is responsible for the development and implementation of portfolio investment strategy. Prior to joining Security Capital in 1995, Kenneth was a vice president in the Investment Research Department of Goldman, Sachs & Co., concentrating on research and underwriting for the REIT industry. Previously, he was a REIT portfolio manager and a managing director of Chancellor Capital Management.Education
Kevin W. Bedell is a managing director of Security Capital Research & Management Incorporated where he directs the Investment Analysis Team, which provides in-depth proprietary research on publicly traded companies. Prior to joining Security Capital in 1996, Kevin spent nine years with LaSalle Partners Limited where he was equity vice president and portfolio manager with responsibility for strategic, operational and financial management of a private real estate investment trust with commercial real estate investments in excess of $1 billion.Education
To the extent that the Fund invests in foreign securities, these investments may be riskier than investments in U.S. securities. These risks include political and economic risks, greater volatility, currency fluctuations, higher transaction costs, delayed settlements, possible foreign controls on investment and less stringent investor protection and disclosure standards of some foreign markets, all of which could adversely affect the Fund's investments in a foreign country. The securities markets of many foreign countries are relatively small, with a limited number of companies representing a small number of industries. If foreign securities are denominated and traded in a foreign currency, the value of the Fund's foreign holdings can be affected by currency exchange rates and exchange control regulations. Real estate investing may be subject to a higher degree of market risk because of concentration in a specific industry, sector or geographical sector. Real estate investing may be subject to risks including, but not limited to, declines in the value of real estate, risks related to general and economic conditions, changes in the value of the underlying property owned by the trust and defaults by borrower.