Patrick Wacker

Emerging markets fixed income credit analyst and portfolio manager. Flagship Emerging Market Bond Fund ranked top 5%/20% over 1 / 3 years.

• Identified and evaluated investment opportunities through analysis of global macroeconomic and geopolitical data. • Performed fundamental credit research on high grade companies, through the balance of financial statement analysis, market levels and relative value dynamics. • Structured strategic opinions consistent with business cycle views. Developed, maintained credit models and monitoring. • Actively participated in product development, including strategy • Made risk management processes more rob

• Responsible for spread and credit analysis of Asian sovereign / corporate issuers culminating in buy/sell recommendations • Monitored macroeconomic news, political developments and market data and analyzed potential impact on portfolio. Presented recommendations to portfolio manager. Provided daily commentary on Asian markets to portfolio team. • Conducted meetings (primary research) on the fund’s behalf with government and corporate officials

• Evaluated and identified investment opportunities in the maritime shipping industry. Prepared a comprehensive industry report with buy and sell recommendations for funds within a $900 million equity portfolio. • Analyzed financial statements and industry structure. Determined suitability of stocks for inclusion into certain portfolios.

• Co-managed $4 billion investment grade corporate credit portfolio: • Analyzed financial statements, industry and economic data, and reviewed projections and sensitivity analyses to determine financial position of current or potential corporate clients. Forecast relationship profitability. • Prepared concise memorandums to the Credit Committee advising on go/no-go transactions by assessing major risks and highlighting conclusions on industry and company analysis. Liaised with agent banks, clients

• Valued companies for tax, M&A and purchase price allocation purposes, employing tools such as discounted cash flow modeling, comparables valuations, cost of capital calculations and estimating control premiums. • Analyzed financial statements, conducted research, prepared presentations and drafted valuation reports.