InView Investment Management Launches
Institutional Firm to Focus on Small and Small-Mid Value Opportunities
Chicago, Illinois (July 16, 2004) – Glen Kleczka, CFA, a former Finalist for Morningstar Manager of the Year (2002), Founder of William Blair & Company’s Value practice and a Founding Partner of Brinson Partners, Inc., has launched InView Investment Management, LLC to invest institutional assets in Small Value and Small-Mid Value mandates.

“Our firm intends to specialize in high alpha asset classes,” stated Glen Kleczka, Managing Partner | CEO of InView. InView defines an asset class as being high alpha if skilled managers are able to add value to client performance by consistently applying an active strategy that outperforms the asset class. InView believes the domestic high alpha equity market encompasses equities with market capitalization of $10 Billion or less as select managers have proven their ability to outperform in this market. “We are among that select few,” said Mr. Kleczka. “We feel that independent specialty investment firms do a better job performance-wise in this market as they bring more focus and are structured to emphasize performance over asset gathering.” The InView Small Value Portfolio is up 12.14% gross of fees and 11.58% net of fees (at a fee rate of 1.00% per annum) in its first six months ended June 30, 2004 as compared to 6.76% and 7.83% for the Russell 2000 and Russell 2000 Value, respectively. InView’s year-to-date Small Value Portfolio performance is in the 20th percentile of the PIPODs universe and has been verified as GIPS® compliant by independent accountants. “We owe our strong start to the diligent execution of our investment discipline, which has proven to be consistently successful over the last 15-years,” said Mr. Kleczka.

Joining InView as Partner | Senior Equity Analyst is Tim Kroll, CFA, formerly of ABN AMRO Asset Management Holdings, Inc. where he researched equities for a 5-Star Morningstar-rated mutual fund. “Tim has extensive small cap value experience on both the sell-side and buy-side,” said Mr. Kleczka. “Tim is a perfect fit with approximately 13-years of equity research experience. We have worked together for a year building and managing the initial portfolio.”

InView has retained Chesapeake Investment Marketing and Advisory Group out of Midlothian, VA to represent InView to the consultant community and directly to plan sponsors. Prior to forming CIMA Group, Andrew Schaffernoth served as a senior sales executive for Strong Capital Management and sales director for First Capital Group, an affiliate of First Union Corporation. In his career, Mr. Schaffernoth has cultivated more than $4 billion in assets.

“We believe this is an opportune time for the formation of our firm,” said Mr. Kleczka. “The economy is healthier and there is now a very real supply-demand imbalance in small cap investment management. Since the market declines in 2001, buy-side investment firms held back on launching new product and sell-side firms dropped coverage of small cap equities as they retrenched. Meanwhile, small cap managers with good records have been closing at a rapid clip. Small cap managers with pedigree and capacity are hard to find.”

InView Investment Management, LLC
We provide institutional equity management to corporate, public and Taft-Hartley pension plans, foundations and endowments nationwide. The firm also offers Private Client management to the wealthiest families on a select basis.

Please refer to additional disclosures that are integral to this Press Release at Annual Performance Disclosure (pdf)