Experience is the common denominator of our portfolio managers. Many of our senior managers began their careers in the 1960s. They have managed portfolios through the high inflation, hard asset years of the 1970s, the bull markets of the 80's and 90's, through the tech bubble of 2000 and the financial crisis of 2008. When you review the plethora of investment advisors in business today, ask yourself who has the staying power, the experience and the stability that can provide you with what you need most - good judgment.

Michael J. Adams
Senior Vice President

Mr. Adams received his BS and MBA in Finance from LaSalle University. He began his career in Trust & Investment Banking in 1974 with Girard Bank (later Mellon Bank) working his way up to Portfolio Manager on Employee Benefit Plans. He then moved to Bucks County Bank & Trust Company where he subsequently became the Chief Investment Officer of the Trust Department. Mr. Adams was responsible for directing the entire investment process, including all equity and fixed-income management. With the acquisition of Bucks County Bank & Trust by CoreStates Bank, he continued serving as Portfolio Manager for individual and institutional clients with assets under management in excess of $200 million. At CoreStates, Mr. Adams was also Fund Manager of the Core States Value Equity Fund, utilizing a value equity process he helped develop while with Bucks County Bank.

Mr. Adams joined Stratton Management Company in 1998.

John A. Affleck, CFA
President

Mr. Affleck received his BA in Pre-Law from Lafayette College and his MBA from Temple University. He earned the right to use the Chartered Financial Analyst designation in 1976 and is currently a member of the CFA Society of Philadelphia and the CFA Institute. Mr. Affleck began his business career in 1968 with the Trust Department of Provident National Bank (Philadelphia) where he served as an Assistant Vice President and Investment Portfolio Manager.

In 1979, Mr. Affleck joined Stratton Management Company. He currently serves as President of the Company and Chairman of the Stratton Mutual Funds.

Mr. Affleck serves on numerous civic boards and is currently an Overseer at William Penn Charter School and a Trustee of the Coriell Institute for Medical Research, Woodmere Art Museum and the Philadelphia Orchestra.

James A. Beers
Chief Executive Officer

Mr. Beers received his BA from Connecticut College and earned his MBA from Villanova University. Before joining Stratton Management Company, Mr. Beers served as a Client Services Representative for FPS Services, Inc., a mutual fund service organization. Mr. Beers acted as liaison to the Firm's Investment Company clients, overseeing all facets of the mutual fund servicing relationship. .

Mr. Beers joined Stratton Management Company in 1994 as head of Mutual Fund Administration and Shareholder Services. In 1996, Mr. Beers joined the research department as an analyst specializing in real estate investment trusts. Mr. Beers is currently President of Stratton Multi-Cap Fund and Stratton Real Estate Fund.

Lynne M. Cannon
Chief Compliance Officer & Chief Administrative Officer

Ms. Cannon received her BA from Ohio Wesleyan University. She has obtained the following designations from FINRA (formerly the NASD): General Securities Principal: Series 24, Municipal Securities Principal: Series 53, General Securities Representative: Series 7, State Securities Agent: Series 63, and Investment Advisor Law: Series 65.

Ms. Cannon joined Stratton Management Company from BNY Mellon with more than thirty years of experience in the investment management, broker-dealer and mutual fund industries, with responsibilities in the areas of operations, compliance, accounting, marketing and product development. Over those years, Ms. Cannon has been very active in the Investment Company Institute, the mutual fund trade association serving on the Compliance Advisory Committee, the Operations Committee and the Small Funds Committee for which she was Chairman from 1994 to 1999.

Ms. Cannon is currently Director and VP of The Philadelphia Saddle Club.

Morris Disston, CFA
Senior Vice President

Mr. Disston received a BA in Economics from Trinity College. He earned the right to use the Chartered Financial Analyst designation in 1976 and is currently a member of the CFA Society of Philadelphia and the CFA Institute. In 1968, he joined the investment management department of Drexel Harriman Ripley. In 1984, Mr. Disston left Drexel as a Senior Vice President with primary responsibility for managing Union and Taft Hartley retirement plans. He joined Wood Struthers and Winthrop as Chief Investment Officer and then President until 1990. .

In 1990, Mr. Disston joined Stratton Management Company to establish and manage Semper Trust Company as an affiliated company to Stratton Management Company. In 2001, Semper Trust Company and Stratton Management were consolidated into Stratton Holding Company.

Shawn M. Gallagher, CFA
Equity Analyst

Mr. Gallagher received his BS in Finance from The Pennsylvania State University in 2003. He earned the right to use the Chartered Financial Analyst designation in 2007 and is a member of the CFA Society of Philadelphia and the CFA Institute.

Prior to joining Stratton Management Company, Mr. Gallagher served as an Analyst in AT&T's Financial Leadership Program in various roles. He joined Stratton Management Company in June of 2005 as an Equity Analyst supporting the Firm's Small Cap Value equity product.

Joanne E. Kuzma
Director of Trading

Mrs. Kuzma received her degree in Applied Economics from Albright College in Reading, Pennsylvania. Prior to joining Stratton Management Company, Mrs. Kuzma spent eleven years in the financial services industry. She served as a Regional Specialist for Kidder, Peabody & Co., Philadelphia. Mrs. Kuzma developed her trading skills while employed at Alex. Brown & Sons, Baltimore.

From 2004 until November 2010, Mrs. Kuzma served as Chief Compliance Officer for the Company and Stratton Mutual Funds, in addition to her role as Trading Director.

Patrick J. McGinnis, Jr.
Senior Vice President

Mr. McGinnis received his BA in Human Resources from Temple University and his MBA from Saint Joseph's University. Mr. McGinnis accumulated seven years of management experience working for a Manufacturers' Representative, H. A. McGinnis Company. In 1991, Mr. McGinnis joined Stratton Management Company and was promoted to Product Manager for the Stratton Multi-Cap Fund (formerly Stratton Growth Fund), in May of 1992. In 1995, he earned the title of Managing Partner and Portfolio Manager and now holds the title of Senior Vice President. In addition, he serves as Chairman of the Investment Committee for Semper Trust Company, an affiliated company.

Mr. McGinnis is an affiliate member of the CFA Institute and the CFA Society of Philadelphia. He serves as an officer and Board member for several civic and charitable organizations.

James Van Dyke Quereau, Jr., CFA
Chief Investment Officer

Mr. Quereau received his BA in Economics from Penn State University and his MBA in Finance from The Wharton School of the University of Pennsylvania. Mr. Quereau has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute. Mr. Quereau's investment management career began at Loomis, Sayles and Company in Boston where he was hired as a security analyst in 1972, primarily responsible for researching companies in aerospace, building materials and finance. In 1979, he became a portfolio manager and was named an institutional managing partner in 1986.

Mr. Quereau joined Stratton Management Company in 1990 as a Portfolio Manager and Managing Partner. He is a member of the investment policy committee and the Director of Qualitative Research for the Firm. Mr. Quereau serves as a trustee for of the Boston based CGM Mutual Funds. He is also a member of the Inglis House Investment Committee.

Amanda Acker Rice
Senior Vice President

Ms. Rice received her BA from Williams College and her MBA from Duke University's Fuqua School of Business. She began her portfolio management career in 1981 with J & W Seligman in New York. Until recently, she served as the Director of Planned Giving at Abington Health Foundation. Prior to that, Ms. Rice was Vice President and Senior Portfolio Manager at Glenmede Trust Company. Before joining Glenmede, Ms. Rice held increasingly senior portfolio manager positions with Howe & Rusling in Rochester, NY, Mellon Bank and Wilmington Trust in Philadelphia.

Ms. Rice joined Stratton Management Company in 2011 as Senior Vice President and Portfolio Manager. Ms. Rice is a member of the CFA Institute and the CFA Society of Philadelphia, and is a member of the Philadelphia and Montgomery County Estate Planning Councils. She is a Trustee of Springside Chestnut Hill Academy where she co-chairs the Investment Committee and is a member of their Development Committee. In addition, she serves as a board member for several civic and charitable organizations.

Gerald M. Van Horn, CFA
Senior Vice President

Mr. Van Horn received his BA in Economics from The College of New Jersey in 1996. He has earned the right to use the Chartered Financial Analyst designation and is currently a member of the CFA Society of Philadelphia and the CFA Institute.

Prior to joining Stratton Management Company, Mr. Van Horn served as an Economic Research Analyst at Rightime Econometrics. He joined Stratton Management Company as an Equity Research Analyst in April of 1998 and has served as President of Stratton Small-Cap Value Fund since 2000.