Kenneth S. Farsalas

Oberweis Asset Management is a bottom-up, active manager that searches for what they believe are superior fundamental, growth, and valuation characteristics in small- and mid-cap equities globally. Oberweis focuses on identifying undervalued companies with earnings power the firm believes is significantly higher than market expectations. Oberweis offers the following growth-oriented investment strategies: Micro-Cap Growth, Small-Cap Opportunities, International Opportunities, Global Small-Cap, and China Opportunities.The Oberweis family of funds is comprised of six funds: Oberweis Micro-Cap Fund, Oberweis Small-Cap Opportunities Fund, Oberweis Emerging Growth Fund, Oberweis China Opportunities Fund, Oberweis International Opportunities Fund, and Oberweis International Opportunities Institutional Fund).

Dearborn Partners' Institutional Client strategies focus on publicly-traded equity and government debt securities. The equity securities may include common stock, preferred stock and warrants and shares of equity mutual funds. The debt securities are government and government agency debt and money market mutual funds. The firm offers a variety of investment products including Large Cap Value, Large Cap Growth, Large Cap Core, Small Cap Value, Focus (Concentrated) Value, Opportunistic (All Cap) Value, and Disciplined Duration Management. Dearborn provides most of their institutional strategies through sub-advisors (third party SEC-registered investment advisors).The firm's Large Cap Growth product employs fundamental business, macroeconomic and technical analyses to identify the stocks of publicly-traded US companies with a market-cap greater than $5 billion. Companies are screened for above-industry growth rates in sales and earnings, balance sheet strength and shareholder value creation. The portfolio typically holds 45-50 securities.Dearborn Partners Large Cap Value employs a fundamental, bottom-up stock selection process to identify the stocks of publicly-traded US companies with a market-cap greater than $3 billion. Companies are screened for strong and sustainable returns on invested capital, consistent free cash flow generation, balance sheet strength and shareholder value creation. The portfolio is monitored for valuation opportunities, with the final portfolio typically holding 25-35 securities.The Large Cap Core strategy applies fundamental business and macroeconomic analyses to US traded securities of companies with market capitalizations above $5 billion. Companies are screened for balance sheet strength, free cash flowgeneration, improving returns on capital, and shareholder value creation. The portfolio typically holds between 35-45 securities.Dearborn's Small Cap Value strategy invests in a diversified portfolio of small market-cap companies. The portfolio typically holds 45-55 equity positions and cash positions of less than 10%.The Focus (Concentrated) Value strategy invests in a concentrated portfolio of small-cap companies. It uses a non-diversified, conviction investment style, typically holding 15-25 equity positions and cash positions of less than 10%. The Opportunistic (All Cap) Value strategy invests in a diversified portfolio of companies, across the entire market-cap spectrum. Portfolios typically hold 45-70 equity positions and cash positions of less than 10%.Dearborn Disciplined Duration Management fixed-income strategy is a customized, absolute return, duration management strategy. It uses US treasury securities and seeks to produce a positive return over specific time periods regardless of the directional move in interest rates. It also seeks to produce positive results in both rising and falling interest rate environments by dynamically managing the duration of the portfolio. This strategy is managed by Dearborn personnel and not through sub-advisors.

Sterling Johnson Capital Management's (SJC) investment approach is based on the belief that superior investment returns are generated over the long-term through investments in under followed companies that are experiencing dramatic acceleration in earnings and revenue growth. The firm invests mainly in the stocks of small- and micro-cap companies with: (1) dramatically accelerating earnings (2) strong and improving financials (3) strong company relative price strength (4) strong industry relative price strength and (5) low institutional ownership/sponsorship. SJC may sell a position when there is declining relative price strength and/or decelerating earnings momentum. Relative industry price strength is also considered as a factor in sell decisions. The firm may also sell a stock if the fundamental reasons for purchasing the stock are no longer valid.Though not limited by sector, SJC tends to invest in the stocks of US small- and micro-cap companies in the electronic technology, health technology and technology services sectors. the firm maintains a high turnover rate.