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Multi Strategy Alternative Income Fund

JAIMX - I SHARES | JAAMX - A SHARES | JACMX - C SHARES | JASMX - R6 SHARES

Portfolio Manager

Andrew J. Duffy, CFA

Ranger Global Real Estate Advisors, LLC

Founded in June 2016, Ranger Global Real Estate Advisors manages public and private global real estate funds for both institutional and retail investors. With a dedicated focus on the publicly-traded real estate market, Ranger aims to provide its investors with access to the highest quality, income-producing real estate in the world. Managed by Andrew J. Duffy, CFA, President and Chief Investment Officer, Ranger Global Real Estate Advisors benefits from his more than 20 years of dedicated REIT expertise. Mr. Duffy, amongst other roles, launched and built the public real estate securities platform for TIAA-CREF, eventually managing over $3 billion in assets.

Andrew J. Duffy, CFA serves as the Senior Portfolio Manager of the Easterly Global Real Estate Fund. Mr. Duffy has more than 30 years of global real estate securities investment experience. Prior to Ranger Global Real Estate Advisors, Mr. Duffy served as the President of Ascent Investment Advisors from February 2009 to May 2016. Previously, he was a Managing Director with Citigroup Principal Strategies, where he managed a long/short portfolio of global real estate securities. From February 2006 until January 2008 he was with Hunter Global Investors, L.P. where he was the Co-Portfolio Manager of the Hunter Global Real Estate Securities Fund. Before that he was a Portfolio Manager at TIAA-CREF for over six years, during which time he was responsible for managing over $3 billion in global real estate equity and debt securities held in pension portfolios, college savings plans, mutual funds and the firm’s proprietary general account. Between 1993 and 1999, Mr. Duffy was a Senior Research Analyst at Eagle Asset Management, where he launched and managed a dedicated real estate securities investment program in which he was responsible for fundamental analysis, security selection and portfolio construction.

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William H. Bales

Bullseye Asset Management, LLC

Mr. Bales is a Principal and Portfolio Manager for Bullseye Asset Management, sub-advisor to the Fund. Mr. Bales has more than 20 years of professional investment experience. He previously served as the Portfolio Manager at Janus Capital Management where he was responsible for the Janus Venture Fund and separately managed portfolios in the Small Cap Growth discipline. Mr. Bales joined Janus Capital Management in 1991, and became an analyst in 1993. He served as co-manager of the Janus Venture Fund from 1997 and became the sole portfolio manager in 2001. Mr. Bales was selected as one of Barron’s Top 100 Fund Managers in 2001 and 2005, and received multiple awards from Lipper in 2008 for “Best Fund over 5 Years” and “Best Fund over 3 Years.”

Mr. Bales received a Master of Science degree in Marketing and Finance and a Bachelor of Science in Marketing from the University of Colorado. Mr. Bales has been in the investment industry since 1992.

Jakob V. Holm, CFA

Bullseye Asset Management, LLC

Mr. Holm is a Principal, Portfolio Manager and Chief Compliance Officer for Bullseye Asset Management, sub-advisor to the Fund. He has more than 16 years of professional investment experience. Prior to Bullseye, he served as the Portfolio Manager at Janus Capital Management where he was responsible for the Janus Adviser Small Company Value Fund, Janus Aspen Small Company Value Fund and separately managed portfolios in the Small Company Value discipline. Prior to joining Janus in 2005, Mr. Holm spent time at Bay Isle Financial and Sand Hill Advisors in California.

Mr. Holm received a Master’s degree from Thunderbird School of Global Management in International Management, focusing on Finance and earned a Bachelor’s degree in Economics from Augustana College, where he graduated Cum Laude. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Colorado.

George Kellner, CFA

Kellner Capital, LLC

Mr. Kellner is the founder and CEO of Kellner Capital, sub-advisor to the Fund. He has more than 30 years of hedge fund experience. Prior to Kellner Capital, Mr. Kellner was a Senior Vice President and founded the arbitrage department of Donaldson, Lufkin & Jenrette. Before commencing his arbitrage career, Mr. Kellner was a Vice President and House Counsel of the Madison Fund where he had broad responsibilities as a Financial Analyst and Portfolio Manager.

Mr. Kellner began his professional career as a securities lawyer at the Wall Street law firm of Carter, Ledyard and Milburn and holds a B.A. from Trinity College, a J.D. from Columbia Law School and an M.B.A. from New York University’s Leonard Stern Graduate School of Business. He is a Chartered Financial Analyst and a former Adjunct Assistant Professor of Finance at New York University and serves on the Stern School’s Board of Overseers.

Chris Pultz

Kellner Capital, LLC

Mr. Pultz is the Managing Director and Portfolio Manager of merger arbitrage for Kellner Capital, sub-advisor to the Fund. Mr. Pultz joined Kellner Capital in 1999 and leads the firm’s merger arbitrage investing activities. In addition, Mr. Pultz is a member of the firm’s management committee where he provides broad input on strategic matters.

Mr. Pultz began his career at Neuberger Berman LLC where he was a government bond trader and also provided allocation recommendations to the firm’s internal investment management teams. Mr. Pultz holds a B.S. in Finance from Fairfield University and an M.B.A from Fordham University Graduate School of Business.

Sal Naro

Lazard Asset Management, LLC

Sal Naro is the lead Portfolio Manager/Analyst of the portfolio team managing the Lazard Coherence strategy. He began working in the investment field in 1982. Prior to joining Lazard in 2020, he was the Founder, Managing Member and Chief Executive Officer of Coherence Capital Partners LLC from January 2012 through October 2020. Previously, he was the Vice Chairman of Jefferson National Financial Corp and Chief Executive Officer of Jefferson National Asset Management from March through December 2011 which culminated in the sale of the insurance carrier and the creation of Coherence Capital Partners LLC. From October 2008 to March 2011, he was an Executive Vice President and head of the acquisitions committee at Markit Group, a leading financial services technology firm. Prior to Markit, he was the Co-Chief Executive Officer and President of Sailfish Capital Partners, LLC, an asset management firm he co-founded in 2005. Previously, Sal worked at UBS Investment Bank where he was a Managing Director and the Global Co-Head of Fixed Income. He was also a member of the board of directors of UBS Investment Bank. Prior to UBS, he was a Senior Managing Director and Global Head of Credit Trading at Bear Stearns from 1989 to 1998. While at UBS and Bear Stearns, he managed an investment team and traded a significant proprietary book. He also served on the global risk committees of both firms. Sal began his career on Wall Street in 1982 as a fixed income associate for Dreyfus and has been a member of senior management in fixed income for the last 26 years. He is a 1983 graduate of C.W. Post College of Long Island University and sat on the board of trustees of Long Island University for 12 years.

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Vincent Mistretta

Lazard Asset Management, LLC

Vincent Mistretta is a Portfolio Manager/Analyst on the Lazard Coherence team. He began working in the investment field in 1986. Prior to joining Lazard in 2020, he was the President of Coherence Capital Partners LLC, a senior portfolio manager at Jefferson National Asset Management, and a founding partner and portfolio manager at L Plus LLC. He previously held several senior roles at UBS Investment Bank, including Managing Director and Head of Global Credit Strategies (GCS), a multi-strategy proprietary investment business he founded in 2006, the Global COO for credit fixed income from 2004 to 2005, and Head of US credit derivatives trading from 2003 to 2004. While at UBS, he was a member of the board of directors of the International Swaps Dealers Association and Markit Group, served on several management committees, and was instrumental in recruiting new talent to UBS. Prior to joining UBS, Vincent held senior trading and portfolio management positions at SAC Capital Advisors (2001-2002), HSBC (2000-2001), DLJ (1998-2000) and Bear Stearns (1986-1998). He is a 1986 graduate of Bucknell University, where he earned a Bachelor of Arts Degree in Economics.

Michael Cannon

Lazard Asset Management, LLC

Michael Cannon is a Portfolio Manager/Analyst on the Lazard Coherence team. He began working in the investment field in 1999. Prior to joining Lazard in 2020, Michael was a Senior Portfolio Manager at Coherence Capital Partners LLC. Previously, he spent 16 years at UBS Investment Bank, most recently as Managing Director and Co-Head of Investment Grade Credit Trading. Michael has extensive experience in trading distressed, high yield, and investment grade credit. At UBS, he worked directly for Sal Naro (lead Portfolio Manager/Analyst) from 1999 to 2005 and traded alongside Vincent Mistretta (Portfolio Manager/Analyst). Additionally, he worked with fellow Lazard colleagues Edgar Benavides and Robert Del Grande. Michael is a 1993 graduate of The Cooper Union for the Advancement of Science and Art where he earned a Bachelor of Engineering degree in Electrical Engineering.