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David Sivinski, executive director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Columbus, David is a senior fixed income fund manager for the Tax Aware Strategies team. In addition, he coordinates municipal management for high net worth clients that focus principally on single state municipal bonds. Prior to rejoining the firm in 1992, David moved to First Security National Bank and Trust Company in Lexington, Kentucky where he was ALCO Chairman for the organization and managed a number of areas including the bank’s investment portfolio and the Trust Department’s fixed income portfolios. Prior to this, he managed the bank investment portfolios for all the affiliate banks of Banc One Corp. David holds a B.A. in finance from The Ohio State University and is a CFA charterholder.Education
Kevin M. Ellis, executive director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in New York, Kevin is a portfolio manager for the Tax Aware Strategies team and is responsible for managing tax aware separate accounts. Before joining the firm in 2003, Kevin worked at Alliance Capital/Sanford Bernstein as a municipal bond trader. Kevin holds a B.S. in business administration from Boston University and is a CFA charterholder.Education
The Fund's fixed income securities are subject to interest rate risk. If rates increase, the value of the Fund's investments generally declines. Most of the Fund's investments will be concentrated within one state and its performance will be affected by the fiscal and economic health of that state. Therefore, the Fund could experience more volatility. For some investors, income may be subject to the Alternative Minimum Tax. Capital gains, if any, are federally taxable. Income may be subject to state and local taxes. The Fund may invest in futures contracts and derivatives. Many derivatives create leverage that can cause the Fund to be more volatile than it would be if it had not used derivatives.