Mr. Marcal has been employed by the Manager since 2013 as a Senior Vice President and portfolio manager. Prior to joining the Manager, he was a Portfolio Manager at Allianz Global Investors (formerly Nicholas-Applegate Capital Management) from 1994 to 2013. Mr. Marcal has years of investment industry experience and has portfolio management and research responsibilities for the International Equities team. He also serves on the asset allocation committee. Before joining the team, Mr. Marcal had been a portfolio manager on the Global Select product and also the lead portfolio manager for the Emerging Markets product. He joined AGI Capital in 1994 via a predecessor affiliate in which he was also a Partner. Prior to that, he was an economist at A.B. Laffer, V.A. Canto & Associates, a global economic consulting firm, and a trader at A-Mark Precious Metals, a commodities firm. Mr. Marcal earned his M.B.A. from the UCLA Anderson School of Management and his B.A. from the University of California, San Diego. As part of his undergraduate degree, he spent a year studying development economics at London University.

John McPeake has been researching and investing directly in the technology, media, and telecom space for over twenty years. He came out of the technology industry itself initially as Chief Operating Officer at Thompson Financial Services. In the investment industry he was first a Senior Software Analyst at Prudential Securities (Number 2 ranked infrastructure analyst in 2002), then Technology Analyst at Seminole Capital Partners, Internet Software and IT Services Analyst at P.A.W Partners and most recently, from ’07-’15, Analyst at Fred Alger Management. He has an AB from Hamilton College and an MBA in Finance from New York University. John is the father of four boys and lives in Manhattan.