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Mr. Birzer has been a Managing Director of the Adviser since 2002 and is also a Partner with Fountain Capital. Mr. Birzer also serves as Chairman and director of TYG and TYY. Mr. Birzer who joined Fountain Capital in 1990 has 24 years of investment experience including 21 in high-yield securities. Mr. Birzer began his career with Peat Marwick. His subsequent experience includes three years working as a Vice President for F. Martin Koenig & Co. focusing on equity and option investments and three years at Drexel Burnham Lambert where he was a Vice President in the Corporate Finance Department. Mr. Birzer graduated with a Bachelor of Business Administration degree from the University of Notre Dame and holds a Master of Business Administration degree from New York University. He earned his CFA designation in 1988. | 