KCO Investments, Inc. is the investment adviser of the Fund and has responsibility for the management of the Fund’s affairs, under the supervision of the Trust's Board of Trustees. The Fund's investment portfolio is managed on a day-to-day basis by Kevin C. O'Boyle. Kevin C. O’Boyle is the president of the adviser. The Adviser was organized in 2005 and therefore has no previous operating history. The address of the Adviser is 3717 Buchanan Street, Suite 200 San Francisco, California 94123.

Mr. O'Boyle was born in 1964 in San Francisco. His formal education includes an undergraduate degree in Economics received with distinction in 1986 from Stanford University, and a Master's Degree in Business Administration completed at Stanford University in 1993. In 1994, Mr. O'Boyle joined Aster Investment Management as an Equity Research Analyst for the Meridian Growth Fund. In June 1995, he became the Co-Manager for the Meridian Value Fund, and was responsible for the day-to-day management of the fund until the end of 2003. The Fund's Statement of Additional Information provides information about the portfolio manager's compensation, other accounts managed by the portfolio manager, and the portfolio manager's ownership of Fund shares.