KENNOX ASSET MANAGEMENT

Justin McLaughlin is the Chief Investment Officer at MMC KENNOX. Prior to his appointment he was Head of Research at Australian Wealth Management for 8 years. His responsibilities at AWM included management of the analyst teams researching direct equities, managed funds and the team responsible for analysis of super legislation and advice and para planning. Prior to this he held a number of senior roles with funds managers United Funds Management and Advance Asset Management. He began his career in funds management working for six years at the Federal Government Superannuation Scheme (SFIT). He has an honours degree in economics from the University of Western Australia.

Brendan Burgess B.Sc., M.Comm. ~ Portfolio Manager

Brendan brings over 12 years of investment experience to MMC having worked in a variety of roles as an equity analyst and portfolio manager. Most recently Brendan was a Senior Fund Manager and an Executive Director of Abvest Associates, a South African investment business, which he formed and then sold before moving to Australia, with a strong capital preservation and value philosophy managing $1 billion. Prior to this, Brendan worked as an Investment Consultant and Fund Manager with PSG Investment Bank, Velocity Asset Management and Old Mutual Asset Managers. Brendan has a Bachelor of Business Science from the University of Cape Town and an Honours Degree in Commerce from the University of South Africa.

Paul Frost B.EC., ACA, ~ Portfolio Manager

Paul Frost was appointed as a Portfolio Manager at MMC KENNOX in June 2008. Paul brings 12 years of investment experience to MMC. Prior to joining MMC, Paul was a Senior Portfolio Manager at Investors Mutual for more than 4 years. In conjunction with IML’s Investment Director, Paul’s responsibilities included portfolio management for the flagship Australian Share Fund, Industrial Share Fund and “large cap” wholesale mandates. He was also responsible for co-ordinating research for ASX Top 100 companies, including direct responsibility for company/industry research. Prior to this role, Paul was an Investment Executive for seven years at Argo Investments, an ASX-listed investment company with an investment track record in excess of 60 years. Paul’s responsibilities at Argo focused on company research for ASX Top 300 companies and assisting the Managing Director in portfolio management decisions. Both IML and Argo have an investment philosophy strongly focused on capital preservation and “value” investment. Prior to Argo, Paul worked in the Institutional Banking division of Westpac Banking Corporation for seven years, principally in operational audit and credit risk management roles. He began his career in chartered accounting in Adelaide with Duesburys before spending two years on secondment with an affiliated chartered accounting practice in London. Paul has a Bachelor of Economics from the University of Adelaide and is an Associate Chartered Accountant.