Turner Investments Announces Election Of Trustees To The Board Of The Turner Funds

BERWYN, Pa., Dec. 8, 2016 /PRNewswire/ -- Turner Investments today announced the election of five new trustees to the Turner Funds' Board at a special meeting of the Funds' shareholders on December 2, 2016.   For each of the nominees, the votes in favor of their election exceeded 96% of the total votes cast.  The five new independent trustees join incumbent independent trustee Alfred C. Salvato, as well as the Funds' two interested trustees, Robert Turner and Michael Kennedy.

"We are very pleased to welcome these strong additions to our Board," said Turner Investments' Founder, Robert Turner.  "This diverse group of talented and accomplished individuals brings new perspectives and insights to our Board of Trustees that will contribute to the ongoing success of Turner Funds."

Newly Elected Trustees: 
David C. Adcock, Esq.  – Independent Trustee 
Mr. Adcock has extensive experience in financial services and fund administration. Since 1982, David served as General Counsel for the Duke Endowment and the Duke Hospital System. He currently serves on the board of the Hennessey Mutual Funds, and served as Trustee of FBR Mutual Funds (the predecessor of the Hennessey Funds) from 2010 – 2012, and from 2005 to the present as Trustee of the Victory Portfolio Mutual Funds. Mr. Adcock holds a Juris Doctor from the Duke University School of Law and a BA from the University of North Carolina at Chapel Hill.

Dr. David Gilbert, PhD – Independent Trustee 
Dr. Gilbert has had a long and distinguished career as a chief executive officer, venture capitalist, and corporate director. He is currently a managing member of Whitemarsh Capital, a boutique investment bank and consultancy. Dr. Gilbert served as Chairman of Calfed Bankcorp and President & CEO of C*ATS SOFTWARE, a Nasdaq-listed company which was a leading provider of derivative trading and financial risk management software. Previously, he held positions as Senior Vice President and International Director of Risk Management Products and Services for Logica, a London-based informational technology company.  Dr. Gilbert started his professional career with the Federal Reserve Board as a Senior Economist and Member of the Bank Holding Company Task Force.  Dr. Gilbert has authored numerous articles for such publications as American Banker and Euromoney and has spoken extensively on risk evaluation and management, venture investing, and corporate and strategic development. He has held faculty appointments at Harvard University, the Wharton School of Finance, and the City College of New York.  Dr. Gilbert received his BBA from City College in New York and his MS and PhD degrees in Economics and Finance from Harvard University.

Peri Wallace Higgins – Independent Trustee 
Ms. Higgins has extensive experience in financial services and in the asset management industry.  She is currently President of Evolve Advisers, a management consulting firm.   She also manages several private real estate investment partnerships.   Prior to forming Evolve Advisers,  Ms. Higgins was a director  and senior analyst with Radnor Holdings Corporation where she was responsible for reviewing the firm's venture capital and private equity investments across a broad range of industries including those in asset management, commercial and investment banking relationships and reviewing management business plans.  Ms. Higgins holds an MBA in finance from the Wharton School of the University of Pennsylvania and an undergraduate degree in economics from Harvard University.  Ms. Higgins also serves as a trustee on several nonprofit boards including the Episcopal Academy.

Richard D. Miles, MBA – Independent Trustee 
Mr. Miles is a Partner/Managing Director of Berkshire Capital Securities, LLC, an investment banking firm specializing in providing strategic and financial advisory services in connection with mergers, acquisitions and divestitures of investment management companies, securities and investment banking firms and related financial institutions. He is a former President and Chief Operating Officer of Butcher and Company, as well as Chief Financial Officer of Butcher & Singer, a broker-dealer and its principal operating subsidiary. He was also a Managing Director within the Capital Markets Group of Merrill Lynch.  Dick began his professional career in the corporate finance department of Chemical Bank in 1968.  Mr. Miles is the past Chairman of the Board of Trustees of The Haverford School and a former director of WFS Financial Corporation, the parent company of Wheat First Butcher Singer.  Mr. Miles is a graduate of the University of Notre Dame where he received a BBA in finance and was elected to Beta Gamma Sigma.  Mr. Miles received an MBA from the Wharton School of the University of Pennsylvania.

William Moran, MBA, CPA – Independent Trustee 
Mr. Moran served as an Executive Vice President of J.P. Morgan Chase & Co. and also as its General Auditor, having joined the bank in 1975. Mr. Moran held various positions in auditing, including Director of Electronic Data Processing (EDP) Audit and Systems Review Executive; Director of Corporate, Subsidiary and MIS Audit; and in 1985, he served as the Director of the Western Hemisphere Audit Group. In that capacity, he had responsibility for Chase's Special Investigations unit, and for audits of various head office areas, subsidiaries of the Corporation, and businesses in the Caribbean and in South America. Before joining Chase, (now J.P. Morgan Chase & Co.), Mr. Moran was with the accounting firm of Peat, Marwick, Mitchell & Co. (now KPMG) for nine years auditing financial institutions.  He is a Member of the American Institute of Certified Public Accountants, and the New York Society of Certified Public Accountants. He serves on the Advisory Board of the School of Management of Marist College and serves on the Board of Directors of The College of Technology. Mr. Moran is a Certified Public Accountant and a Certified Bank Auditor.  Mr. Moran was awarded a Bachelor of Arts degree, cum laude, from Marist College and a Master of Business Administration degree from Columbia University. He is also a graduate of the Stonier Graduate School of Banking at Rutgers University.

Incumbent Trustee: 
Alfred C. Salvato – Independent Trustee, Chairman of the Turner Funds' Board 
Mr. Salvato currently serves as an independent trustee for the Turner Funds and has served as a trustee in various committees and as Chairman since 1996.  He serves as Senior Vice President for Corporate Finance and Chief Investment Officer for Thomas Jefferson University (Thomas Jefferson University/Thomas Jefferson University Hospital), an academic health center in Philadelphia, Pennsylvania. In this capacity he serves as an integral member of the senior leadership team and works closely with the finance, audit, and investment committees of the Board of Trustees.  As the University's Chief Investment Officer, he is responsible for the corporate finance operations, which includes the controller's office, treasury management, budgeting office, sponsored research accounting, financial system administration, and various ancillary operating units. Along with his asset management duties, he administers the University's debt portfolio and has been team lead on the issuance of approximately $1.3 billion of tax-exempt/taxable financing. He holds a degree in economics from Villanova University.

IMPORTANT INFORMATION
The investor should consider the investment objectives, risks, charges and expenses carefully before investing. This information can be found in the prospectus.  A free summary or statutory prospectus, which contains detailed information, including fees and expenses, and the risks associated with investing in this fund, can be obtained by calling 800.224.6312 or by visiting www.turnerinvestments.com. Read the prospectus carefully before investing.  Past performance is no guarantee of future results. 

The Turner Funds are distributed by Foreside Fund Services, LLC, Portland, ME.

The views, opinions and content presented are for informational purposes only. They are not intended to reflect a current or past recommendation; investment, legal, tax, or accounting advice of any kind; or a solicitation of an offer to buy or sell any securities or investment services. Except as otherwise specified, any companies, sectors, securities, and/or markets discussed are solely for illustrative purposes regarding economic trends and conditions or investment process and may or may not be held by Turner, the Turner Funds, or other investment vehicles or accounts managed by Turner or its affiliates. Past performance is no guarantee of future results.

Important information regarding risk:
As with all investments, there are associated inherent risks. Portfolios that invest in small and/or mid-size company stocks typically involve greater risk, particularly in the short term, than those investing in larger, more established companies. Portfolios that use short sales, option strategies, and leverage may result in significant capital loss. Portfolios with foreign investments may be riskier than U.S. investments because of factors such as foreign government restrictions, changes in currency exchange rates, incomplete financial information about the issuers of securities, and political or economic instability. Foreign stocks may be more volatile and less liquid than U.S. stocks. The risks associated with foreign investments are heightened when investing in emerging markets. The government and economies of emerging-market countries feature greater instability than those of more developed countries.  Such investments tend to fluctuate in price more widely and to be less liquid than other foreign investments. There can be no assurance that the portfolio will be successful in limiting volatility.

Media Contacts: 
Michael Herley, Kekst 
(212) 521-4897 
[email protected]

Peter Hill, Kekst  
(212) 521-4859 
[email protected]

Company Contact: 
Robert E. Turner, Chief Investment Officer 
(484) 293-2300

SOURCE Turner Investments LLC

Related Links

http://www.turnerinvestments.com