Invesco Real Estate Global Securities Portfolio Management Team

Transcription

1 Portfolio Management Team Joe V. Rodriguez, Jr. Mr. Rodriguez is an Invesco Managing Director and is the head of real estate securities for Invesco. In addition to portfolio management, Mr. Rodriguez oversees all phases of the unit including securities research and administration. He has served on the following industry boards: Editorial Board for the National Association of Real Estate Investment Trusts; Editorial Board for Institutional Real Estate Securities Newsletter. Mr. Rodriguez has been a guest on CNBC and Bloomberg News. He has published for The Institute for Fiduciary Education and Real Estate Finance. He was also a contributing author to Real Estate Investment Trusts: Structure Analysis and Strategy, a book published by McGraw Hill. He is a member of the National Association of Business Economists, the American Real Estate Society and the Business Advisory Board for the Hankamer School of Business at Baylor University. He has also served as adjunct professor of economics at the University of Texas at Dallas. He holds a Bachelor of Business Administration degree in Economics and Finance and a Master of Business Administration degree in Finance from Baylor University. Mr. Rodriguez has 31 years of investment experience. He joined Invesco in Mark Blackburn, CFA Mr. Blackburn is an Invesco Managing Director and a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as Director of Securities Research and a Portfolio Manager. Prior to joining Invesco in 1998, he worked as an Associate Director of Research focusing on equity securities research and recommendations with a regional brokerage firm. He has approximately 27 years of experience in institutional investing and risk management along with a background in evaluating the high-yield and convertible securities markets. Mr. Blackburn received his Bachelor of Science degree in Accounting from Louisiana State University and his Master of Business Administration degree from Southern Methodist University. He is a member of the National Association of Real Estate Investment Trusts (NAREIT). Ping-Ying Wang, Ph.D., CFA Ms. Wang is an Invesco Senior Director and a Portfolio Manager on the Real Estate Securities Investment Team. As a Portfolio Manager, Ms. Wang evaluates global real estate companies with a particular focus on Asian and North American countries while managing and performing portfolio risk analysis. In addition to these duties, Ms. Wang formulates investment strategies, spearheads thematic research projects and serves on the Real Estate Securities Management Executive Committee. Ms. Wang holds a Bachelor s degree in International Finance from the People s University of China (Beijing, China) and a Doctorate of Philosophy degree in Finance from the University of Texas at Dallas. Ms. Wang is a published author whose work has appeared in the Journal of Empirical Finance. During her Ph.D. education, Ms. Wang served as an instructor, a teaching assistant and a research assistant. Ms. Wang is a native mandarin Chinese speaker and prior to her Ph.D. education, had experience with China Computer Technologies and Services Co. in China. She holds the Chartered Financial Analyst (CFA ) designation and has 17 years of real estate and analytical investment experience. 1 Source: Invesco Real Estate. Data as of January 2016.The Chartered Financial Analyst (CFA ) designation is globally recognized and attests to a

2 Portfolio Management Team Paul Curbo, CFA Mr. Curbo is an Invesco Senior Director and a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a Portfolio Manager performing quantitative and fundamental research on real estate securities. Mr. Curbo has been a guest on Bloomberg News and CNBC and has been quoted in several publications including the Wall Street Journal and Barron s. Mr. Curbo joined Invesco in 1998 and worked for several years in the real estate research group as a Senior Research Analyst. He led one of Invesco s regional teams and directed the firm s research and strategy efforts in the Western region of the US. Prior to joining Invesco, Mr. Curbo was a senior research associate with Security Capital Group where he was responsible for analyzing multifamily, industrial and office real estate markets. Mr. Curbo previously held a position with Texas Commerce Bank. He has 21 years of real estate experience. Mr. Curbo holds a Bachelor of Business Administration degree in Finance from the University of Texas at Austin and has completed graduate coursework in Economic Theory and Econometrics at the University of Texas at Dallas. Additionally, he holds the Chartered Financial Analyst (CFA ) designation. He is a member of the National Association of Real Estate Investment Trusts (NAREIT). James Cowen Mr. Cowen is an Invesco Senior Director and a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties as a Portfolio Manager involve the evaluation of real estate companies and the analysis of fundamental real estate factors at the macro and property levels. He has a particular focus and responsibility for the UK and Continental European region. Other responsibilities include client reporting and the provision of quantitative analysis to assist with risk management within the Invesco portfolio management process. Mr. Cowen has 16 years of experience in real estate and has worked for Invesco for 14 years. Prior to joining the real estate securities management team in 2004, he worked in a real estate corporate finance role for Invesco in Europe and as a financial analyst for a management consulting business based in London. He has a Bachelor and a Masters Degree from the University of Manchester and a Master of Philosophy (M.Phil) degree from Cambridge University. He is a member of the UK Society of Investment Professionals, UK Securities & Investment Institute and is a UK FSA approved person. Darin Turner Mr. Turner is an Invesco Senior Director and a member of the Securities Portfolio Management and Research Teams of Invesco Real Estate. His current duties include work as a Portfolio Manager performing quantitative and fundamental research on real asset securities including both equity and fixed income instruments. Mr. Turner joined Invesco in 2005 as an Acquisitions Analyst and later served as the Associate Portfolio Manager for Invesco Real Estate s US Value Added Funds. Prior to joining Invesco, Mr. Turner was a financial analyst in the corporate finance group of ORIX Capital Markets where he was responsible for the daily evaluation of a $2 billion fixed-income portfolio, as well as, analyzing the performance of specific collateralized debt obligations. Additionally, he was responsible for the execution of a high-yield repurchase facility and a leveraged loan swap agreement, as well as, implementing certain portfolio hedging strategies. Mr. Turner holds a Bachelor of Business Administration degree in Finance from Baylor University, a Master of Science degree in Real Estate from the University of Texas at Arlington, and a Master of Business Administration degree specializing in Investments from Southern Methodist University. 2 Source: Invesco Real Estate. Data as of January 2016.The Chartered Financial Analyst (CFA ) designation is globally recognized and attests to a

3 Patrick Beytagh Mr. Beytagh is a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a real estate senior securities analyst performing quantitative and fundamental research on real estate securities. Mr. Beytagh joined Invesco in 1999 and was initially responsible for system conversions, performance measurement and composites. He has over 24 years of investment experience, both retail and institutional. Prior to joining Invesco, Mr. Beytagh did work as an analyst at Westwood Management Corporation, where he was responsible for the creation and maintenance on the research universe and analytical database for their first REIT securities portfolio product. Mr. Beytagh received a Bachelor of Arts degree in American Studies from the University of Notre Dame. Chris Faems, CFA Mr. Faems is a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a real estate senior securities analyst performing fundamental and quantitative research on real estate securities. Prior to joining Invesco in 2006, Mr. Faems worked as a senior research analyst focusing on equity research and investment recommendations of mortgage finance companies at Flagstone Securities. Prior to Flagstone, Mr. Faems worked as a research analyst covering small and mid cap financial services companies at Kennedy Capital Management and as an investment banker in the financial institutions group of Stifel, Nicolaus & Company. He has 18 years experience in institutional investing, securities research and investment banking. Mr. Faems holds a Bachelor of Science degree in finance from Washington University in Saint Louis. He holds the Chartered Financial Analyst (CFA ) designation. Grant Jackson Mr. Jackson is a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a real estate senior securities analyst performing quantitative and fundamental research on real estate securities. Additionally, he facilitates system and application enhancements for the research team. Mr. Jackson joined Invesco in 2005 after receiving his graduate business degree from Southern Methodist University. Mr. Jackson previously worked for PricewaterhouseCoopers Consulting where he was engaged in various technical roles involving data management, database coordination, and application development. Mr. Jackson received his Bachelor of Science degree in Mechanical Engineering from the University of Texas at Austin and his Master of Business Administration from Southern Methodist University s Cox School of Business. He is a Chartered Financial Analyst (CFA ) Level III Candidate. 3 Source: Invesco Real Estate. Data as of January 2016.The Chartered Financial Analyst (CFA ) designation is globally recognized and attests to a

4 Jim Pfertner Mr. Pfertner is a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a real estate senior securities analyst performing fundamental and quantitative research on real estate securities, including structured strategies and fixed-income markets with a focus on global real estate securities corporate debt and preferred stock investments. Mr. Pfertner also provides capital structure analysis and debt pricing analysis for equity portfolios. Prior to joining Invesco, Mr. Pfertner worked as a director at Highland Capital Management, LP where he focused on identifying investment opportunities in both debt and equity investments. In addition, he managed a portfolio consisting of CMBS, REITs, syndicated loans, and equity real estate investments. Prior to Highland, he worked as an investment analyst for Prudential Mortgage Capital Company underwriting commercial and multifamily properties across the U.S. for debt investment opportunities. Prior to Prudential, he held various roles with JPMorgan Chase and Morgan Stanley. Mr. Pfertner earned a Master of Business Administration degree from Southern Methodist University and a Bachelor of Arts degree in Economics from the University of Texas at Austin. Shabab Qadar Mr. Qadar is a member of the Real Estate Securities Portfolio Management and Research Team. His current duties include work as a real estate senior securities analyst performing fundamental and quantitative research on real estate securities, with a focus on European companies and markets. Prior to joining Invesco, Mr. Qadar was Head of UK and Irish Real Estate Research at Grosvenor Estates plc in London. Prior to Grosvenor, Mr. Qadar worked at Ernst & Young in tax advisory. He also worked for the Engineering Employers Federation where he undertook a macroeconomic and policy research role. He holds both a Bachelor and Masters Degree in economics. Mr. Qadar has 16 years experience. Lindsay Schroll Ms. Schroll is a member of the Securities Portfolio Management and Research Teams of Invesco Real Estate. Her current duties include work as a senior securities analyst performing fundamental and quantitative research on equities, with a focus on companies that primarily derive their revenues from infrastructure assets. Prior to joining Invesco, Ms. Schroll worked as a vice president at Bank of America Merrill Lynch where she focused on REIT equity research. Prior to Bank of America Merrill Lynch, she worked as an equity research associate for UBS Securities LLC focused on REITs and alternative investments. Ms. Schroll earned a Master of Business Administration degree from the Wharton School, University of Pennsylvania, and a Bachelor of Arts degree in Economics from Yale University. 4 Source: Invesco Real Estate. Data as of January 2016.The Chartered Financial Analyst (CFA ) designation is globally recognized and attests to a

5 Krishna Soma, CFA Mr. Soma is a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a real estate senior securities analyst performing fundamental and quantitative research on real estate securities. Prior to joining Invesco in 2011, Mr. Soma worked as a REIT analyst at Duff & Phelps Investment Management. Prior to Duff & Phelps, Mr. Soma worked as a research analyst covering REITs, homebuilders, and engineering & construction companies at Northern Trust Global Investments. He has 13 years of experience in institutional investing and securities research. Mr. Soma holds a Bachelor of Arts degree in Economics from The University of Michigan Ann Arbor. He holds the Chartered Financial Analyst (CFA ) designation Jackie Tin, CFA Ms. Tin is a member of the Real Estate Securities Portfolio Management and Research Teams. Her current duties include work as a real estate senior securities analyst performing fundamental and quantitative research on real estate securities. Prior to joining Invesco in 2012, Ms. Tin worked as an equity research analyst covering Australian REITs at Citigroup. Ms. Tin has also worked as an equity research analyst covering financials at Commonwealth Securities and in global markets of Commonwealth Bank of Australia. She has over 12 years of experience in institutional investing, securities research and product development for equity markets. Ms. Tin received her Bachelors of Business/Bachelors of Arts degree in Finance, Accounting and Chinese Language & Culture from the University of Technology, Sydney. She holds the Chartered Financial Analyst (CFA ) designation. Min Zhang, CFA Mr. Zhang is a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a real estate senior securities analyst performing fundamental and quantitative research on real estate securities, including structured (cash and synthetic) strategies and fixed income markets with a focus on CMBS, corporate debt and corporate preferred stock. Min also provides tenant and credit quality analysis, capital structure analysis and debt pricing analysis for equity portfolios. Prior to joining Invesco in 2007, Mr. Zhang worked as an investment associate focusing on commercial real estate related structured finance strategies such as below investment grade CMBS, CRE CDO, B-note, mezzanine loan, and commercial real estate investment and portfolio management at ORIX Capital Markets. Prior to ORIX, Mr. Zhang worked as a consultant in China Chamber of International Commerce specializing intellectual property rights laws and technological exchanges coordination between China and foreign countries. He has 14 years of experience in US CMBS below investment grade bonds investing, analytics, underwriting, funding, hedging and portfolio surveillance. Mr. Zhang received a Masters of Science degree in Finance from Texas A&M University. He also holds a Masters of Engineering degree in Applied Chemistry from Beijing University of Chemical Technology, and a Bachelor of Engineering degree in Mechanical Engineering from Zhejiang University of Technology. Additionally, he holds the Chartered Financial Analyst (CFA ) designation. 5 Source: Invesco Real Estate. Data as of January 2016.The Chartered Financial Analyst (CFA ) designation is globally recognized and attests to a

6 Alister Hough Mr. Hough is a securities analyst for the Real Estate Securities Portfolio Management and Research Team. He performs fundamental and quantitative research on real estate securities with a focus on companies and markets in the Europe, Middle East and Africa (EMEA) region. Mr. Hough joined Invesco in 2013 and entered the industry in Prior to joining Invesco, he was an investment analyst at Adelante Asset Management and William De Broe in London. His roles have involved research and analysis of a wide range of equity and debt-based investments across multiple sectors and world geographies. He earned a BSc degree in real estate management from Kingston University. Mr. Hough holds the UK Investment Management Certificate and is a UK FCA-approved person Yannis Kuo, CFA Ms. Kuo is a member of the Real Estate Securities Portfolio Management and Research Teams. Her current duties include work as a real estate securities analyst performing fundamental and quantitative research on real estate securities. Prior to joining Invesco in 2012, Ms. Kuo worked as an equity research analyst covering the Hong Kong property sector at Daiwa Capital Markets and also worked as a research analyst for CB Richard Ellis where she engaged in analyzing real estate markets and direct property investment opportunities in Asia. Ms. Kuo received a Bachelor of Arts degree in Architectural Studies from University of Hong Kong and also earned a Master of Business Administration degree with dean s list honors from the University of Hong Kong in partnership with London Business School. She holds the Chartered Financial Analyst (CFA ) designation. Xiaoying (Catherine) Li Ms. Li is a member of the Real Estate Securities Portfolio Management and Research Teams. Her current duties include work as a real estate securities analyst helping improve and refine investment process functions and assisting with research on Asian real estate securities. Prior to joining Invesco in 2006, Ms. Li worked in the fields of technical operations (telecommunications industry) and mergers and acquisitions (GE China). As an analyst at GE, she performed due diligence for several multimillion dollar Merger & Acquisition projects ranging from joint venture to manufacturing outsourcing. Ms. Li received her Bachelor of Engineering degree from Nanjing University of Aeronautics & Astronautics in Nanjing, China. Ms. Li also received her Masters in Finance and a Masters in Accounting from the University of Texas in Dallas. 6 Source: Invesco Real Estate. Data as of January 2016.The Chartered Financial Analyst (CFA ) designation is globally recognized and attests to a

7 Dan Moran, CFA Mr. Moran is a member of the Securities Portfolio Management and Research teams of Invesco Real Estate. His current duties include work as a securities analyst performing fundamental and quantitative research on equities, with a focus on companies that primarily derive their revenues from infrastructure assets and master limited partnerships. Prior to joining Invesco, Mr. Moran worked as an Assistant Vice President at Hudson Advisors (a private equity investment advisor) to the Lone Star Funds, a global distressed private equity firm, where he was responsible for interest rate swaps underwriting and hedging globally. Prior to joining Hudson Advisors, Mr. Moran worked at JPMorgan in its currency derivatives group, providing risk management solutions to corporate clients. Mr. Moran has earned both a Bachelor's and Master's of Finance from Tulane University. Additionally, he holds the Chartered Financial Analyst (CFA ) designation. Shelby Noble Ms. Noble is a member of the Real Estate Securities Portfolio Management and Research Teams. Her current duties include work as a real estate securities analyst performing fundamental and quantitative research on real estate securities. Prior to joining Invesco, Ms. Noble worked for Highland Capital Management for three years, where she was most recently an assistant trader in the retail strategies group. She also worked as a Senior Settlement Associate and Team Leader handling all bankruptcy restructures, real estate settlements and distressed trade closings. Ms. Noble has a B.S. in Economics with a certificate in Business Economics from Texas A&M University. She is a Chartered Financial Analyst (CFA ) Level II Candidate. David Kern Mr. Kern is a member of the Securities Portfolio Management and Research teams of Invesco Real Estate. His current duties include work as an associate analyst performing fundamental and quantitative research on real estate securities. Prior to joining Invesco, Mr. Kern worked as a financial analyst in the healthcare mergers and acquisitions group of a global investment bank. Prior to this role, Mr. Kern worked as a credit analyst in the financial institutions debt products group of a leading financial institution underwriting loans for Insurance companies. Mr. Kern earned a Bachelor of Science degree in Business Administration from the University of Southern California s Marshall School of Business. 7 Source: Invesco Real Estate. Data as of January 2016.The Chartered Financial Analyst (CFA ) designation is globally recognized and attests to a

8 Tian Zhao, Ph.D., CFA Mr. Zhao is a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a real estate securities analyst performing fundamental and quantitative research on real estate securities. Mr. Zhao had previously worked at Invesco s Quantitative Strategy Group focusing on quantitative equity research and portfolio management. Prior to assuming his current role in 2012, Mr. Zhao worked as a research analyst focusing on equity research and investment recommendations in Asia Pacific region at AllianceBernstein. Mr. Zhao holds a Bachelor of Arts degree in International Politics from Peking University, a Master of Arts degree in Political Science from the University of Georgia and a Ph.D. in Finance from the University of Houston. He holds the Chartered Financial Analyst (CFA ) designation. Chris Rynn Mr. Rynn is a member of the Real Estate Securities Portfolio Management and Research Teams. His current duties include work as a securities analyst performing fundamental and quantitative research on equities, with a focus on companies that primarily derive their revenues from infrastructure assets. Prior to his current role, Mr. Rynn worked as the Investment Operations Manager for the Real Estate Securities Team overseeing trade implementation. Prior to the Real Estate Securities Team, Mr. Rynn worked as a Business Analyst for Invesco where he focused on optimizing portfolio modeling and trade execution software. Prior to Invesco, Mr. Rynn held various positions with Deutsche Bank and Fisher Investments. Mr. Rynn has earned a Bachelor of Science degree in Finance from the University of Dayton. Additionally, he is pursuing the Chartered Financial Analyst (CFA ) designation. 8 Source: Invesco Real Estate. Data as of January 2016.The Chartered Financial Analyst (CFA ) designation is globally recognized and attests to a