Mr. Persky co-founded Dalton Investments with Jamie Rosenwald in 1998. Mr. Persky oversees U. S. operations for Dalton Investments LLC and serves as risk manager. He also manages Dalton Advisors, which provides investment counseling and investment management to Dalton’s high net worth clients.

Mr. Persky has over 25 years of professional investment experience. Prior to founding Dalton, he was a Vice President at Payden & Rygel, a Los Angeles based investment advisor where he managed institutional fixed income portfolios. Mr. Persky worked for Salomon Brothers in New York and Tokyo where he worked in the fixed income trading division. He began his financial career at Citibank where he was a senior credit officer.

Mr. Persky holds an A.B from Harvard College (1980) where he majored in Asian Studies. He is a CFA charter holder (1994) and a member of the CFA Society of Los Angeles, Inc and the CFA Institute.

Mr. Rosenwald is a recognized authority in Pacific Rim investing with more than twenty years of investment experience. He formerly co-managed and founded Rosenwald, Roditi & Company, Ltd., now known as Rovida Asset Management, Ltd., which he established in 1992 with Nicholas Roditi. Mr. Rosenwald advised numerous Soros Group funds between 1992 and 1998. He commenced his investment career with the Grace Family at their securities firm, Sterling Grace & Co.

Mr. Rosenwald holds a Masters of Business Administration from New York University and a Bachelor of Arts degree from Vassar College. He is a CFA Charterholder and a director of numerous investment funds. He is a member of the Los Angeles Society of Financial Analysts and the Association for Investment Management and Research.

Mr. Combs managed equity portfolios for domestic and international institutions for ten years at Pacific Financial Research, a Beverly Hills-based money manager with assets in excess of five billion dollars. In 1994, he retired as Partner to concentrate on managing a US investment partnership, and in 1998 he began managing the portfolio for Pacific and General Investments. Mr. Combs is a well-known figure in the value investment community. His most recent publication, on Korean economic reform, was issued as a monograph by the National Bureau of Asian Research in December 1999, and is included as a chapter in their most recent book.

Mr. Combs holds an M.Phil. degree in Economics and Politics from Cambridge University in England. He received his A. B. from Harvard College. He currently serves as a Director of the Sir John Soane's Museum Foundation and the Council of the Friends of The Bancroft Library at the University of California, Berkeley.

Ms. Ong has worked in money management and investment banking for over two decades. She managed portfolios for The Monetary Authority of Singapore and Steinhardt Partners. She was a Vice President at Salomon Brothers and a Managing Director at Bankers Trust Company, involved in structuring and selling fixed income, equity, foreign exchange and other derivatives.

Ms. Ong received a M.A. and B.A. (Hons.) in Mathematics and Economics from Cambridge University in England. She was awarded the Presidents Scholarship and Overseas Merit Scholarship from the government of Singapore. She serves on the Board of the Santa Barbara City College Foundation.

Todd Sherer is the Portfolio Manager for our distressed mortgage product. Todd was previously with Countrywide Financial where he worked for six years and led the group trading distressed sub-prime mortgages. Prior to working at Countrywide, Todd worked at Nomura Securities and Ocwen Federal Bank trading and structuring residential mortgage backed securities. Todd has a B.A. from the University of Pittsburgh and J.D. from William and Mary Law School.

Tony Hsu co-manages the Dalton Asia Fund and Dalton Greater China Fund. Prior to joining Dalton, he worked at Goldman Sachs & Co. where he specialized in Asian equities. He began his international career at Foxconn in the special economic zone of Shenzhen, China.

Mr. Hsu holds an MBA in Finance from The Wharton School at the University of Pennsylvania where he served as an equity analyst for The Wharton Investment Management Fund.

Mr. Hebert has served for more than twenty years as a financial and administrative corporate officer in asset management, financial services and industrial firms. He was previously Chief Operating Officer of Summit Advisors, Inc., an investment manager/hedge fund, and Chief Financial Officer and a Director of King ATM Corporation. He was Chief Executive Officer and a Director of Coastline Financial Corporation, a mortgage banking and financial services company. Mr. Hebert was also Vice President and Treasurer of KB Home Mortgage Corporation and Vice President - Asset and Liability Manager of Security Pacific National Bank.

Mr. Hebert earned a Master of Business Administration degree with highest honors in Finance from Cornell University and a Bachelor of Science degree with highest honors from the University of Connecticut.

Ms. Milan has more than ten years of financial, legal, and operations experience. Before joining Dalton Investments, Ms. Milan was a Vice President of Investment Operations and Administration at OppenheimerFunds, Inc. Prior to that role, she spent three years as a Securities Analyst for the firm.

Ms. Milan holds a JD from Suffolk University Law School and a Bachelor of Arts degree from Smith College. She is a member of the New York and Pennsylvania Bar.

*professional services provided to Dalton through independent third party consulting agreements

Junichiro Sano has had an extensive career with Nikko Securities, Nikko Salomon Smith Barney Ltd., and Nikko CITI Group KK, where he held the position of Managing Director. Mr. Sano began his investment career in 1978 after earning his B.A. in Business Administration from Kwansei Gakuin University. He also completed the course for International Bankers post-graduate study at London School of Economics and Political Science in 1983.

Mr. Sano has been a senior advisor to Dalton Investments since 2006 while serving as CEO of Dalton’s Tokyo based research affiliate. He has been a board member of Nipponkoa Insurance company of Japan since 2008. He is a member of the Japan Association of Corporate Directors.

Mr. Chowdhury has more than 12 years of investment research and management experience, having lived and worked in four countries. After joining Dalton Investments in August 2002, he generated several successful investment ideas in high yield/distressed debt space. He researched multiple sectors and special situations in US, Europe and South America. Before Dalton, as Head of Research at Al Ahlia Securities (largest fund manager in Oman), he extensively researched Middle-East and North-African companies. He was Head of Research at ANZ Grindlays Investment Bank prior to joining Al Ahlia, doing research work in Australian and Indian markets. He began his investment career in 1992 with Unit Trust of India (UTI). As Assistant General Manager of UTI, he managed the largest equity mutual fund of India (US$ 1 bn).

Mr. Chowdhury holds an MBA from University of Southern California (USC), Marshall School of Business. He is a CFA charterholder; a member of Los Angeles Society of Financial Analysts and the CFA Institute. He also holds an MBA from Indian Institute of Management, Ahmedabad (IIM-A) and a B.Tech (Aerospace Engg.) from Indian Institute of Technology, Kharagpur (IIT-KGP).

Mr. Hetherington has more than nine years of investment research and trading experience. Ryan joins us from Countrywide Asset Management, where he was the Vice President of the Trading Desk for four years. Prior to that, Mr. Hetherington held research and trading positions at Bay View Financial for three years; and before that was at Ocwen Federal Bank for a year. Mr. Hetherington received a Bachelor of Science in Business Administration from Georgetown University, Georgetown School of Business, and is a CFA Charterholder.

Prior to joining Dalton Investments, Mr. Haynie was the Head of US ABS Trading for Fortis Securities from 2006 to 2007. From 2004 to 2005, Mr. Haynie was Vice President of Whole Loan Trading at Nomura Securities, and for four years previous to that he was Vice President of Structured Products Group at Deutsche Bank. Mr. Haynie began his financial career in 1998 at Ocwen Federal Bank as a Senior Financial Analyst, and he holds a B.S. in Corporate Accounting from Stockton College, New Jersey.

Mr. Maeda has more than 17 years of investment and institutional sales experience. Before joining Dalton, Mr. Maeda was a Vice President at SPARX Investment & Research, the US subsidiary of The SPARX Group, where he was the Head of Business Development in North America, a registered principal of SPARX Securities, USA, and a co-founder of the New York office. Prior to joining SPARX, he spent 10 years as an institutional fixed income salesman at Bear Stearns in New York and Los Angeles and at CS First Boston in New York and Philadelphia. He began his career as an equity research assistant at Oppenheimer Investment Advisers, part of Oppenheimer & Co. in Los Angeles.

Mr. Maeda received a Bachelor of Arts degree in Economics from the University of California, Irvine. He is a CAIA Charterholder and member of the Chartered Alternative Investment Analyst Association.

Prior to joining Dalton, Mr. New spent over 5 years at Dimensional Fund Advisors, where he was a Vice President with responsibility for global consultant relations. Before Dimensional, he spent over 13 years in institutional investing, as a consultant at Wurts & Associates and Asset Strategy Consulting and as a plan sponsor at Southern California Edison and FMC Corporation. He also spent a year as President of Kobe Investment Research, a company that provided research on Japanese small cap stocks to US hedge funds and mutual funds.
 
Mr. New received his BA from Yale, his MBA in finance from UCLA, and is a CFA charterholder.