Morningstar Advisor - December 2012/January 2013 - (Page 56)

Undiscovered Manager Mark Egan Embraces Volatility By Kate Stalter Fixed-income manager welcomes opportunities to pounce on good deals. Throughout his career, Mark Egan has done things differently. To begin with, Egan—the manager of Scout Core Plus Bond SCPYX and three other Scout fixed-income funds—has sought opportunities in the investment industry while remaining in the Midwest. In the early 1980s, after Egan graduated from Marquette University in Milwaukee, the industry was more heavily concentrated in New York than it is today. Egan heard about an investment course at the University of Wisconsin’s business school. Its graduates had good success breaking into the industry. “At the time, that was kind of hard to do if you were from the Midwest,” he recalls. “Most people who thought about the investment industry had to go to an elite business school at Harvard or Yale or maybe Northwestern. Then you would try to get into Goldman Sachs or Credit Suisse, one of those firms.” After getting his MBA from the University of Wisconsin, Egan did a stint with registered investment advisor National Investment Services in Milwaukee. Before that, he was an accountant with Arthur Young & Co. (now Ernst & Young). He received his CPA in 1982 and his CFA charter in 1989. Then, in 1990, a headhunter contacted him about a position with Reams Asset Management—a small, unique fixed-income shop south of Indianapolis. Egan recalls his first impression of Reams as “a strange and unusual little firm in Columbus, Ind., that had a good track record and did some unusual 56 Morningstar Advisor December/January 2013

Table of Contents for the Digital Edition of Morningstar Advisor - December 2012/January 2013

Morningstar Advisor - December2012/January 2013
Letter From the Editor
What Stands Between Me and Stupid
Why Do You Use Dynamic Funds of Funds?
Serving Clients and Community
How to Pick an ETF Managed Portfolio Strategy
Tactical View of Risk
Investments á la Carte
Investment Briefs
Unbundling ETF Managed Portfolios
Risks Loom Over Telecom Industry
Outsourcing Asset Allocation
ETF Managed Portfolios on the Rise
Age-Based Options Take Over 529 Industry
How the Landscape for Advisors Is Changing
Mark Egan Embraces Volatility
Alpha, Beta, and Now … Gamma
Performance Gaps
Gains in Momentum
Companies Where Management Teams Add Value
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
The Once and Future King

Morningstar Advisor - December 2012/January 2013