The 20 Rising Stars of Mutual Funds 2008 - (Page 20) tively priced absolute return investment strategies for non-accredited investors,” said Liggett, who joined the firm in 2003 as a portfolio manager. “Smaller investors are still stuck with an over-supply of product aiming to beat or match a benchmark that usually has little to do with their long-term investment goals. The Utopia family of mutual funds that our team launched in late 2005 brings our global absolute return investment style to the masses.” Liggett envisions his firm and the U.S. fund industry becoming more global. “Perhaps in 10 years I will be splitting time between our beautiful office here in northern Michigan and other offices spread across the world,” he said. “With so many funds and much of our industry becoming increasingly commoditized, it seems that further industry consolidation from here is a no-brainer.” Liggett describes his biggest accomplishment as “transitioning from a single-country, single-sector sell-side analyst role to a go-anywhere investment manager.” Prior to FIM Group, he spent three years as an equity research analyst at West LB Panmure Securities Pacific in Tokyo. He joined West LB in 1998 as an equity research assistant after a year of teaching English for the City of Takamatsu, Japan. Liggett, who is a chartered financial analyst, cited Mac Cana, with whom he worked at West LB, as having been his best boss. “Mac Cana had the leadership and diplomatic skills needed to bring out the best in his analysts and manage the sometimes tricky relationship between research and sales,” he said. Nintendo is a company Liggett has come to admire over the years. “When I covered the company as a sell-side analyst, I was always intrigued by the paradox between an incredibly conservative corporate and financial management team and a massively innovative and creative research and development team,” he said. “Nintendo seems to have mastered the right balance between holding firm to its long-term corporate mission of staying financially conservative and the continued development of innovative, industry-changing, must-buy products.” 14. JEREMY MAY Managing Director, Operations and Client Service ALPS Fund Services, Denver Age: 37 Education: University of Colorado (B.S. in Accounting) Mentor: Bob Alexander, Retired Founder, ALPS Fund Services May joined ALPS in 1995 and is responsible for overall operations and relationship management for the fund administration unit of Denver-based ALPS Advisers, which has $1.5 billion in assets under management. He also serves as treasurer for several ALPS-sponsored products, including the Liberty All-Star Funds, the Clough Global Funds and the Reaves Utility Income Fund. Prior to joining ALPS, he worked at Deloitte & Touche as a certified public accountant, primarily working with the financial services industry. May began his career at ALPS as a controller in the administration department and worked his way to becoming head of the administration department and then one of the owners of the company with responsibility for the overall operations at ALPS. “My biggest professional accomplishment would be the management success I have had at ALPS, which has resulted in almost no turnover at the director-level in the last five years,” he said. “It is very challenging to direct a diverse group of leaders, including our general counsel, chief compliance officer, chief technology officer and v.p. of fund accounting.” He sees himself having a similar leadership role at ALPS in 10 years. The story for the fund industry will be continued innovation in products, May said, adding that he foresees growth in the annuities space and a shift towards guaranteed income. May has been a speaker at conferences held by various organizations, including the National Investment Company Services Association, and chairs the audit committee of the University of Colorado Foundation, which in October was named Large Foundation of the Year by Foundation & Endowment Money Management for excelling in returns and limiting its downside. 14 . JEREMY MAY 15. JEFFREY MILLER President American Independence Capital Management, New York Age: 36 Education: Cornell University (B.A. in History, M.B.A.) Mentors: David Berry, Former Research Director, Keefe Bruyette & Woods; Phil Cuthbretson, Trader, American Independence Capital Management JANUARY 2008 20 MUTUAL FUND RISING STARS
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