Mr. Jaffarian is the Founder & Chairman of Efficient Capital Management, LLC (Efficient). In 1986 he joined Chicago Research & Trading Group (CRT) as a member of the proprietary trading group on the floor of the Chicago Board Options Exchange (CBOE) and rose to position of Senior Vice President for OTC Treasury Options. Immediately prior to founding Efficient, Mr. Jaffarian was responsible for the managed futures department of Hull Equity Management, LLC and for the allocation of Hull Trading Company, LLC's proprietary capital among trading advisors. He graduated from the University of Oregon in 1974 with a B.A. in History. Mr. Jaffarian holds a Series 3 license, is a Chartered Alternative Investment Analyst Designee (CAIA) Charter Holder, and is a veteran of over 30 years within the alternative investment industry in the areas of trading, portfolio construction, and risk management.

Mr. Martinson is the Chief Executive Officer and Chief Investment Officer at Efficient. In this role, he manages the firm’s investment process, serves as the Portfolio Manager, and helps shape strategic priorities as a member of the Executive Team. Mr. Martinson joined Efficient in 2002 after nearly a decade in the technology industry, serving as the firm’s Chief Technology Officer. After leading the development process to build out Efficient’s proprietary managed futures platform, he joined the investment team in 2005 and has served as the Portfolio Manager since the end of 2007. Mr. Martinson graduated from Taylor University in 1994 with a BA in Chemistry/Pre-med. He holds a Series 3 license and is a Chartered Alternative Investment Analyst (CAIA) Charter Holder.

Mr. Bradshaw is responsible for the strategic direction and day-to-day operation of Efficient. In addition, Mr. Bradshaw is a member of the Investment Team and co-chair of the Executive Team. Prior to joining Efficient, Mr. Bradshaw served as a Senior Vice President at Nuveen Investments from November 2011 through May 2016. He also previously held senior product strategy and development roles at Invesco and Morgan Stanley from January 2001 through November 2011. In those roles, he was responsible for managing all phases of the product life cycle for products spanning multiple structures, geographies and brands. He began his career in 1994 at the Chicago Board of Trade where he last served as Manager of Market Surveillance and was responsible for detecting and preventing manipulations of the Exchange’s agricultural and equity products. He earned a bachelor’s degree in agricultural economics from the University of Illinois in 1994 and graduated first in his class with an MBA in finance and strategic management from the University of Chicago Booth School of Business in 2001. Mr. Bradshaw also previously served as Board Member and Finance and Audit Chair of the Illinois State Board of Education. In addition, he served as President of Illinois’ third largest school district. Mr. Bradshaw currently holds a Series 3 license.

Mr. Meksi is the Deputy Chief Investment Officer at Efficient Capital Management. He is a member of the Investment team and helps shape strategic priorities as a member of the Executive Team. He initially joined Efficient in 2006 and prior to that, he was an options trader for Efficient Capital Overlay, LLC. Mr. Meksi graduated from North Central College in 2003 with a BA in Computer Science and International Business. He received his MBA degree from the University of Chicago Booth School of Business in 2012. Mr. Meksi has been in the financial industry since 2003. Mr. Meksi currently holds a Series 3 license.

Mr. Marcey is the Chief Commercial Officer for Efficient Capital Management, LLC. He is involved in coordination of staff and global business development specialists, and helps shape strategic priorities as a member of the Executive Team. Mr. Marcey graduated from Carnegie-Mellon University in 1973 with a B.A. in Social Relations. He earned an M.Div. from Covenant Theological Seminary in 1977, and an S.T.M. from Concordia Seminary in 1983. Mr. Marcey joined Efficient in 2004, holds a Series 3 license, and has 27 years of experience in not-for-profit leadership development and strategic planning.

Dr. Molyboga is the Chief Risk Officer and Director of Research at Efficient and helps shape strategic priorities as a member of the Executive Team. He began his career at Efficient in 2001 as a Research Analyst. From 2002, he consulted for Petra Intraday Trading Systems as the Senior Researcher and served as its president from 2004. He left Petra in 2006 and joined the Research Department at Efficient as a Senior Research Analyst. His expertise is in hedge fund performance evaluation and portfolio construction, specializing in practical applications of rigorous academic research. Dr. Molyboga's work has been widely published in academic journals. He co-authored the book “Your Essential Guide to Quantitative Hedge Fund Investing.” He is also an Adjunct Professor at the Illinois Institute of Technology Stuart School of Business, where he teaches empirical finance techniques to Ph.D. students. Dr. Molyboga is a Financial Risk Manager designee (FRM), a Chartered Financial Analyst (CFA), a Chartered Due Diligence Analyst (CDDA), and holds a Series 3 license. He graduated with high honors from Moscow State University with a Masters in Financial Mathematics. He also graduated with honors from the University of Chicago's Booth School of Business with an MBA in Finance, Economics, and Strategic Management. He earned a PhD in Finance from EDHEC Business School.

Mr. Jaffarian is the Founder & Chairman of Efficient Capital Management, LLC (Efficient). In 1986 he joined Chicago Research & Trading Group (CRT) as a member of the proprietary trading group on the floor of the Chicago Board Options Exchange (CBOE) and rose to position of Senior Vice President for OTC Treasury Options. Immediately prior to founding Efficient, Mr. Jaffarian was responsible for the managed futures department of Hull Equity Management, LLC and for the allocation of Hull Trading Company, LLC's proprietary capital among trading advisors. He graduated from the University of Oregon in 1974 with a B.A. in History. Mr. Jaffarian holds a Series 3 license, is a Chartered Alternative Investment Analyst Designee (CAIA) Charter Holder, and is a veteran of over 30 years within the alternative investment industry in the areas of trading, portfolio construction, and risk management.

Mr. Martinson is the Chief Executive Officer and Chief Investment Officer at Efficient. In this role, he manages the firm’s investment process, serves as the Portfolio Manager, and helps shape strategic priorities as a member of the Executive Team. Mr. Martinson joined Efficient in 2002 after nearly a decade in the technology industry, serving as the firm’s Chief Technology Officer. After leading the development process to build out Efficient’s proprietary managed futures platform, he joined the investment team in 2005 and has served as the Portfolio Manager since the end of 2007. Mr. Martinson graduated from Taylor University in 1994 with a BA in Chemistry/Pre-med. He holds a Series 3 license and is a Chartered Alternative Investment Analyst (CAIA) Charter Holder.

Mr. Meksi is the Deputy Chief Investment Officer at Efficient Capital Management. He is a member of the Investment team and helps shape strategic priorities as a member of the Executive Team. He initially joined Efficient in 2006 and prior to that, he was an options trader for Efficient Capital Overlay, LLC. Mr. Meksi graduated from North Central College in 2003 with a BA in Computer Science and International Business. He received his MBA degree from the University of Chicago Booth School of Business in 2012. Mr. Meksi has been in the financial industry since 2003. Mr. Meksi currently holds a Series 3 license.

Mr. Bradshaw is responsible for the strategic direction and day-to-day operation of Efficient. In addition, Mr. Bradshaw is a member of the Investment Team and co-chair of the Executive Team. Prior to joining Efficient, Mr. Bradshaw served as a Senior Vice President ‐ Head of Product Strategy and Business Intelligence at TIAA Global Asset Management/Nuveen Investments from November 2011 through May 2016. He also previously held senior product strategy and development roles at Invesco and Morgan Stanley from January 2001 through November 2011. In those roles, he was responsible for managing all phases of the product life cycle for products spanning multiple structures, geographies and brands. He began his career in 1994 at the Chicago Board of Trade where he last served as Manager of Market Surveillance and was responsible for detecting and preventing manipulations of the Exchange’s agricultural and equity products. He earned a bachelor’s degree in agricultural economics from the University of Illinois in 1994 and graduated first in his class with an MBA in finance and strategic management from the University of Chicago Booth School of Business in 2001. Mr. Bradshaw also previously served as Board Member and Finance and Audit Chair of the Illinois State Board of Education. In addition, he served as President of Illinois’ third largest school district. Mr. Bradshaw currently holds a Series 3 license.

Mr. Aulie is Director of Manager Search, and a member of the Investment Team at Efficient Capital Management, LLC. He began his career in alternative investments in 1980 at the Chicago Board of Trade with Agra Trading on the trading floor. He also managed the firm's margin requirements and supervised the back office reconciliation for the trading operation. In 1981 he joined Chicago Research and Trading as a junior partner and for six years managed the repo desk as part of their futures and cash bond trading operation. Prior to joining Efficient in 2006, he was the director of a not-for-profit in Spain where he provided leadership for 19 years. Mr. Aulie graduated from Gordon College in 1979 with a B.A. in Physics, and completed a Master of Divinity degree at Columbia International University in 1986. He holds a Series 3 license, and has more than 24 years of industry experience.

Mr. Brumbach is an Investment Analyst and a member of the Investment Team. He was the Senior Strategist and Head Trader at Efficient Capital Overlay, LLC. Prior to that he was a Principal of Global Exchange at Bank of America, trading options on Japanese Government Bonds (JGBs) on the Tokyo Stock Exchange from 1992-2000. Mr. Brumbach graduated from Baylor University in 1991 with a B.A. in Studio Art. He holds a Series 3 license and has more than 15 years of industry experience.

Mr. Kapitan is an Investment Portfolio Analyst and a member of the Investment Team at Efficient. He began his career at Efficient in 2023. Prior to Efficient Mr. Kapitan was an Executive Director at Waystone, a global asset management service provider, where he provided consulting services to alternative investment managers and broker dealers. As an Executive Director Mr. Kapitan assisted CTAs, proprietary trading firms, hedge funds, and private equity firms with operational, compliance, and financial guidance and reporting. Before Waystone, Mr. Kapitan was an associate and member of the asset management team at Lakeside Wealth Management. As a member of the asset management team, he assisted with trading, investment analysis and portfolio management. A key area of focus for Mr. Kapitan at Lakeside was alternative investments. Mr. Kapitan graduated from Purdue University in 2014 with a BS in Business Management. Mr. Kapitan became a Chartered Financial Analyst (CFA) charterholder in 2021. He also holds a Series 3 license and has more than 8 years of industry experience.

Mr. Fjellman is an Investment Associate and a member of the investment team. Prior to this, he was an Enterprise Risk Consultant at Ernst & Young, LLP. He graduated from North Carolina State University with a B.S. in Accounting, with a concentration in Financial Analysis. Mr. Fjellman currently holds a Series 3 license.

Mr. Buckingham is the General Counsel of Efficient Capital Management, LLC. He is a licensed lawyer with 25+ years of industry experience. Before joining Efficient in 2018, he was the General Counsel and Chief Compliance Officer at two investment management firms, Acrospire Investment Management (2016-2017) and Rotella Capital Management (2011-2016), both in Chicago. Before his in-house roles, Mr. Buckingham was a partner at Winston & Strawn LLP (2005-2011) and a partner and associate at Katten Muchin Rosenman LLP (1998-2005), in their Chicago offices. Mr. Buckingham started his investment management career in 1997 as a staff attorney at Sidley & Austin LLP. Prior to Sidley, from 1992-1997, Mr. Buckingham was a practicing litigator in various capacities. He received a Bachelor of Arts degree, with honors, from the University of Arizona in 1989, and his Juris Doctor degree from the University of Illinois College of Law in 1992.

Mrs. Allen is the Chief Compliance Officer of Efficient Capital Management, LLC. Before joining Efficient in 2005, she was the Director of Compliance and Investor Relations for Norshield Investment Partners (USA). While there, Mrs. Allen was responsible for building out the Chicago Office to a staff of 10 employees and aided in the creation of a Cayman Islands hedge fund of funds platform structure. She also held the position of Director at Guggenheim Partners where she helped launch the first Alternative Hedge Fund of Funds product for the firm. Mrs. Allen has years of industry experience working with a precious metals and Numismatics Firm, Commodity Trading Advisory Firms and Futures Commission Merchants. She obtained a Bachelor of Arts Degree from DePaul University. Mrs. Allen holds a Series 3 license and has more than 30 years of industry experience.

Mr. Levin is the Chief Financial Officer for Efficient Capital Management, LLC. Prior to joining Efficient in 2021, he spent more than 20 years in the Asset Management industry in various back-office roles with Mesirow Advanced Strategies, HFR Asset Management, and most recently Northern Trust Hedge Fund Services. He began his career in public accounting with Arthur Andersen/Deloitte providing tax services to a variety of Alternative Investment Managers. Mr. Levin graduated from the University of Illinois in 2000 with a B.S. in Accountancy and is a CPA.

Mr. Kinder is the Director of Information Technology at Efficient Capital Management, LLC. Prior to joining Efficient in 2003, Mr. Kinder worked for over 10 years as an Internet Practice Lead consultant for Software Architects, Inc. which was acquired by Sogeti USA LLC. Mr. Kinder has 25+ years of experience in IT and software development. Mr. Kinder graduated from Illinois State University in 1992 with a B.S. in Computer Science. Mr. Kinder holds a series 3 license and has 15+ years of futures industry experience.

Mr. Marcey is the Chief Commercial Officer for Efficient Capital Management, LLC. He is involved in coordination of staff and global business development specialists, and helps shape strategic priorities as a member of the Executive Team. Mr. Marcey graduated from Carnegie-Mellon University in 1973 with a B.A. in Social Relations. He earned an M.Div. from Covenant Theological Seminary in 1977, and an S.T.M. from Concordia Seminary in 1983. Mr. Marcey joined Efficient in 2004, holds a Series 3 license, and has 27 years of experience in not-for-profit leadership development and strategic planning.

Mr. Handy is a Director, Business Development at Efficient. His focus is on North American institutional sales and marketing, helping to manage relationships with consultants, pensions, endowments, foundations and family offices in the USA and Canada. He has written a number of white papers and articles, is a CAIA charter holder, has a Series 3, and has been in the industry since 2008.

Mrs. Nickell joined Efficient Capital in 2016. As Efficient’s Business Development Administrator, Mrs. Nickell utilizes her 20+ years of project management and marketing experience to enhance the customer experience through client communications and onboarding, digital marketing projects that deliver educational and thought-leadership materials to the market, and Salesforce administration. She obtained a BA in Marketing from Texas Tech University and holds a Series 3 license.

Mr. Aulie is Director of Manager Search, and a member of the Investment Team at Efficient Capital Management, LLC. He began his career in alternative investments in 1980 at the Chicago Board of Trade with Agra Trading on the trading floor. He also managed the firm's margin requirements and supervised the back office reconciliation for the trading operation. In 1981 he joined Chicago Research and Trading as a junior partner and for six years managed the repo desk as part of their futures and cash bond trading operation. Prior to joining Efficient in 2006, he was the director of a not-for-profit in Spain where he provided leadership for 19 years. Mr. Aulie graduated from Gordon College in 1979 with a B.A. in Physics, and completed a Master of Divinity degree at Columbia International University in 1986. He holds a Series 3 license, and has more than 24 years of industry experience.

Mr. McGinnis is Regional Director, Wealth Management at Efficient Capital Management® LLC. His focus is on helping to grow the North American wealth management space. He started his career in the financial industry working on the trading floor at the Chicago Board of Trade in 1981. He advanced through various positions, including becoming a Retail Commodity Broker at Collins Commodities in 1985. There, he worked with a varied group of clients, both hedgers and speculators, and from bankers to farmers. In 1992, Joe began his journey into the sales and marketing of Managed Futures funds. Prior to joining Efficient in 2023, he has represented top industry firms including Baltimore based Campbell & Company, Chicago based Dearborn Capital Management, and most recently, London based Aspect Capital. Joe educates Financial Advisors and their clients on the diversification and non-correlation benefits of Managed Futures when added to their investment portfolios. He holds a Series 3 and brings 40+ years of industry knowledge and experience.

Mr. Cronan is Director, Business Development at Efficient Capital Management® LLC. His focus is on North American institutional and wealth management sales and marketing, building, and managing relationships with financial advisors, pensions, endowments, and foundations. He has experience in sales, client services, marketing, and product development. Prior to joining Efficient in 2023, Mr. Cronan was the Key Accounts Relationship Manager for AARP at Kemper Funds, Head of Financial Institutions Team for Mesirow Advanced Strategies, and most recently, Senior Investment Director for LGIMA. He graduated from University of Iowa Tippie College of Business in 1992 with a BBA in Finance and from Northwestern University Kellogg School of Management in 2003 with an MBA. Mr. Cronan holds a Series 3 license and has 29 years of experience in the financial industry.