RESNO C C OUNTY OUNTY E E MPLOYEES MPLOYEES R ETIREMENT ETIREMENT A A - PDF document

F RESNO RESNO C C OUNTY OUNTY E E MPLOYEES’ MPLOYEES’ R ETIREMENT ETIREMENT A A SSOCIATION SSOCIATION Ted Aronson March 6, 2013

K EY EY C HARACTERI STICS ERISTI AJO reflects a number of distinguishing characteristics that define what we do and how we do it. I NDEPENDENT & G LOBAL V ALUE -D RIVEN & D ISCIPLINED C OST -C ONSCIOUS & C OMMUNICATIVE D AVID VERSUS G OLIATH Eighty-eight clients $21.3b Large cap 16.6 $168 million Mid & small cap 1.6 Long/short 1.1 Top cap 1.0 Managed volatility 0.9 International 0.1 As of 1/31/13 2

O UR UR C LIE R C ONT CTS LIENTS TS AN AND TH THEI EIR ONTACTS P UB UBLIC C ORP RATE /ERI ERISA Nashville & Davidson County ORPORA Metro Employee Benefit System Fadi BouSamra, 615.880.2811 Charlotte Firefighters’ Aetna small cap ‘98 Retirement System Russell Smith, 860.273.1331 small cap ‘99 Barbara Avard, 704.336.4431 New York State Common large cap ‘05 Retirement Fund B&W Y-12 Maureen Kipper, 518.473.0538 City of Austin Employees’ Maureen Williams, 865.574.9285 large cap ‘04 Retirement System large cap ‘01 Steve Edmonds, 512.458.2551 Nova Scotia Workers’ large cap ‘02 Banco Popular Compensation Board Javier Rubio, 787.765.9800 Maureen Boyd, 902.491.8406 Detroit General Retirement System large cap ‘02 large cap ‘07 Marilyn Roc Berdijo, 313.224.3362 large cap ‘04 Bechtel Marine Propulsion/ Oklahoma Firefighters Bechtel Plant Machinery Retirement System Fairfax County Educational ESRS Barbara LaFountain, 518.395.6539 Bob Jones, 405.522.4600 large cap ‘05 Jeanne Carr, 703.426.3909 large cap ‘02 large cap ‘03 Campbell Soup Oklahoma Public Employees Florida Retirement System Gary Biscoll, 856.342.4800 Retirement System large cap ‘05 Scott Seery, 850.413.1035 large cap ‘93, 130/30 ‘08 Brad Tillberg, 405.858.6721 large cap ‘03 Canada Post Fresno County Employees’ Doug Greaves, 416.204.4285 Oklahoma Teachers’ Retirement Association large cap ‘01 Retirement System Phillip Kapler, 559.457.0681 large cap ‘95 James Wilbanks, 405.521.4740 Dow Chemical mid cap ‘98 Sanjay Chawla, 989.638.2286 Los Angeles City Employees’ large cap ‘02, 130/30 ‘07 Oregon Public Employees Retirement System Retirement Fund Duke Energy Rod June, 213.473.7124 large cap ‘01 Mike Viteri, 503.378.4111 Richard Jefferies, 704.382.8630 large cap ‘03 small cap ‘98 Louisiana State Employees’ Philadelphia Public Employees Dun & Bradstreet Retirement System Retirement System Steven Ginsberg, 973.921.5618 Bobby Beale, 225.925.7156 large cap ‘02 large cap ‘02 Sumit Handa, 215.496.7468 large cap ‘01 Hanford Site Pension Plan Louisiana State Police South Carolina Retirement Systems Retirement System Elaine Cone, 509.372.3323 large cap ‘04 David Phillips, 803.737.4374 Irwin Felps, 225.925.4878 large cap ‘05 large cap ‘03 Kaiser Permanente St Louis County Retirement Plans Manitoba HEB Bill Lee, 510.271.6986 top cap ‘01 Kirk McCarley, 314.615.5410 Ron Queck, 204.975.3431 large cap ‘04 large cap ‘05 MedStar Health West Virginia Investment Brian Neale, 410.772.6653 Missouri Local Government ERS large cap ‘93 Management Board Brian Collett, 573.632.6353 top cap ‘06, 130/30 ‘07 Jim Herrington, 304.347.7657 small cap ‘99 Monsanto Company Pam Moench, 314.694.8241 Missouri PSRS/PEERS small cap ‘91 (terminated–gulp–’94), John Tuck, 573.638.1089 large cap ‘06 large cap ‘01, 130/30 ‘05 3

National Automobile Dealers Missouri Baptist Foundation Plumbers & Pipefitters Association National Pension Fund Jeff Boris, 203.563.5094 top cap ‘12 John Cline, 617.747.9357 Bill Sweeney, 703.739.9020 large cap ‘04 large cap ‘02 Nord Family Foundation National Security Technologies Sharon White, 440.984.3939 large cap ‘00 Nancy Gines, 702.295.0312 P OOLE OOLED large cap ‘05 Oklahoma School Land Trust Absolute Investment Advisers National Telecommunications Karen Johnson, 405.521.4000 large cap ‘00 Jay Compson, 781.740.1904 Cooperative Association long/short ‘05 Lisa Schweitzer, 703.351.2070 managed volatility ‘11 Richard King Mellon Foundation AJO Emerging Markets All-Cap Fund Ed Morgan, 724.238.8471 AJO Emerging Markets Small-Cap Fund Nordson Corporation top cap ‘03 AJO Emerging Markets Hedge Fund Ray Cushing, 440.892.1580 large cap ‘00 The Investment Fund for International ‘13 Foundations Purolator Christian Brothers Dick Flannery, 610.684.8000 Tim Hill, 905.712.1084 Investment Services large cap ‘98 large cap ‘06 Frank Haines, 212.490.0800 University of Arkansas Foundation large cap ‘02 Reichhold Inc Vickie Ferguson, 479.575.3158 GuideStone Funds Pat Tuttle, 919.990.7532 large cap ‘03 small cap ‘98 Matt Peden, 214.720.4704 small cap ‘98, large cap ‘06 Sandia National Laboratories M UL ULTI -E -E MPLOYER MPLOYER Prudential Retirement Jane Farris, 505.284.2168 all cap ‘92 (terminated–gulp–’95), Ric Filippelli, 860.534.8443 large cap ‘01 AFTRA Retirement Fund large cap ‘05 Christine Dubois, 212.499.4821 SCI Group large cap ‘02 Quaker Small-Cap Value Fund Steve Phinney, 416.401.3011 Jeff King, 610.455.2299 large cap ‘10 American Federation of Musicians small cap ‘96 and Employers’ Pension Fund Sentara Healthcare Russell Investment Group Maureen Kilkelly, 212.284.1200 Ron Vinson, 757.455.7057 large cap ‘08 Richard Yasenchak, 206.505.4885 large cap ‘09 top cap ‘03, 130/30 ‘07 Central Pennsylvania Teamsters Shell Oil Company Joe Samolewicz, 610.320.5500 SEI Investments Emily Landry, 713.241.0285 large cap ‘03 Greg McIntire, 610.676.1563 large cap ‘03 top cap ‘03, large cap ‘03, 130/30 ’05, managed Connecticut Carpenters volatility ‘04 Southern California Edison Pension Fund Greg Henry, 626.302.1457 Transamerica Asset Management Rich Monarca, 203.281.5511 small cap ‘98 large cap ‘99 Chris Staples, 727.299.1811 large cap ‘04 Construction Industry Laborers Mike Gauthier, 913.236.5490 E ND NT / / NDOWMENT large cap ‘06 F OU ON OUNDA DATION District 9 IAM & AW Pension Trust Baptist Community Ministries N.B. — It is not known whether these Tony Rippeto, 314.739.6200 clients approve or disapprove of AJO Laurie DeCuir, 504.593.2309 large cap ‘05 or the advisory services provided. All large cap ‘96 clients are listed, except those that IWA – Forest Industry Pension Plan wish to remain anonymous. Baylor Health Care System Colleen Troelstrup, 604.433.6310 Mark Amiri, 214.820.2538 large cap ‘07 large cap ‘04 New Jersey Transit Boys Town Amalgamated Transit Union Phil Ruden, 402.498.1017 Michael Lihvarcik, 973.491.7721 large cap ‘05 large cap ‘04 Commonfund Operating Engineers Local 101 Jeff Boris, 203.563.5094 David Barry, 816.737.5959 all cap ‘85, large cap ‘93 large cap ‘03 (terminated –gulp–’95), top cap ‘05 4