Investment Advisor: Guggenheim Partners Investment Management, LLC
Investment Sub-Advisor: Transparent Value Advisors, LLC
Julian Koski, Co-Chief Executive Officer & Senior Portfolio Manager
Mr. Koski co-founded Transparent Value in 2003. Currently Mr. Koski is Co-Chief
Executive Officer and Senior Portfolio Manager of Guggenheim Transparent Value,
LLC and its subsidiaries, and a Managing Director of Guggenheim Partners Investment Management,
LLC. He directs Transparent Value’s business development, marketing, and distribution
activities and contributes to Transparent Value product development initiatives.
He is also a member of the board of Guggenheim Transparent Value, LLC.
Mr. Koski has 20 years of experience in corporate finance, asset management, and
investment banking. Before co-founding Transparent Value in 2003, he co-founded
Financial Resource Group LLC, a boutique investment banking and private equity firm.
In 1984, Mr. Koski emigrated from South Africa to the United States and founded
Mr. Koski has lectured at the Massachusetts Institute of Technology and at various
industry conferences on topics relating to business valuation, performance measurement,
and value-based compensation methodologies. Mr. Koski attended the University of
Witwatersrand (South Africa) and the University of South Africa, where he studied
to be an Accountant.
Scott Hammond, Director, Senior Portfolio Manager
Scott Hammond is a Managing Director of Portfolio Management for Transparent Value,
LLC and its U.S. subsidiaries and a Director of Guggenheim Partners Investment Management,
LLC. Mr. Hammond is responsible for the day-to-day management of the investment
portfolios of all Transparent Value investment products and services.
Prior to joining Transparent Value, LLC in July 2009, Mr. Hammond was Head of ETF
Portfolio Management at Northern Trust, where he oversaw the portfolio management
of NETS, Northern Trust’s family of ETFs. Mr. Hammond was also Portfolio Manager
at Barclays Global Investors with responsibilities for the management of $90 billion
in institutional assets, as well as proprietary and client driven research.
He holds a Masters of Business Administration from Purdue University’s Krannert
Graduate School of Management, and a Bachelor of Arts in Economics from the University
of New Hampshire
Armen Arus, Co-Chief Executive Officer & Senior Portfolio Manager
Mr. Arus co-founded Transparent Value in 2003. Currently Mr. Arus is Co-Chief Executive
Officer of Guggenheim Transparent Value, LLC and its subsidiaries, President of
Transparent Value Trust, and a Managing Director of Guggenheim Partners Investment
Management, LLC. He directs Transparent Value’s product and corporate operations,
and product development activities. In addition, Mr. Arus contributes to the development
of Transparent Value’s business strategy, investment processes, and distribution
activities, and is responsible for developing the marketing strategy and plan. He
is also a member of the board of Guggenheim Transparent Value, LLC.
Mr. Arus has 13 years of experience in asset management, investment research and
investment banking. Before co-founding Transparent Value in 2003, he was with Financial
Resource Group LLC, a boutique investment banking and private equity firm, where
he worked on all aspects of executing private equity, M&A, and bridge-financing
transactions. From 1999 to 2000, Mr. Arus worked as an Analyst at the Acquisition
Finance group of Chase Securities, Inc., where he recommended capital structure
and financing strategies to private equity clients and conducted qualitative and
quantitative analyses for leveraged buyouts and M&A transactions. From 1996
to 1998, Mr. Arus worked at the Commercial Mortgage Backed Securities Group of Lehman
Brothers Inc., where he was responsible for evaluating and analyzing real estate
investment projects, and for building valuation models for mortgage-backed assets.
At Lehman, he also performed sensitivity analyses to help model the hypothetical
behavior of assets aggregated in securitized instruments.
Mr. Arus holds a Bachelor of Science in Finance from the New York University Stern
School of Business
Gennadiy Khayutin, Senior Portfolio Manager
Mr. Khayutin is a Senior Portfolio Manager of Transparent Value, LLC and its subsidiaries
and a Managing Director of Guggenheim Partners Investment Management, LLC. He directs
Transparent Value's product development activities. In addition, Mr. Khayutin contributes
to the development of Transparent Value’s business strategy, investment processes,
and distribution activities.
Prior to joining Transparent Value in May of 2005, Mr. Khayutin was with Goldman
Sachs & Co.’s Healthcare Group where he was responsible for structured-debt products
for a variety of healthcare and higher education clients. Mr. Khayutin also helped
raise more than $5 billion in M&A, derivative, and corporate financing deals, with
an average transaction size of $200 million. While at Goldman, Mr. Khayutin was
also a key player in the firm’s Fixed Income Electronic Commerce group. He participated
in development of Goldman’s proprietary electronic bond trading platform and was
responsible for marketing initiatives that led to a 175% increase in trading volume.
He was also employed in the Commercial Mortgage-Backed Securities Group at Lehman
Brothers and Healthcare Finance Group at B.C. Ziegler and Company.
Mr. Khayutin holds a Bachelor of Science in Finance and Information Systems from
the New York University.
Farhan Sharaff , Senior Managing Director, Chief Investment Officer
Mr. Sharaff is the Chief Investment Officer of Transparent Value, LLC and its U.S.
subsidiaries and a Senior Managing Director of Guggenheim Partners Investment Management,
LLC. Mr. Sharaff is responsible for managing and monitoring the investment portfolios
of all Transparent Value investment products.
Mr. Sharaff has more than 20 years of experience in investment research and investment
management. Before joining Transparent Value, LLC in June of 2009, he was a Partner
and Chief Investment Officer at MJX Capital Advisors, a wealth management firm focused
on providing advice and investment management for its clients, especially in the
traditional and alternative asset classes. Prior to that, Mr. Sharaff served as
the global Chief Investment Officer at CIGNA Corporation, Zurich Scudder Investments
and at Citigroup. In all of the above engagements, Mr. Sharaff was responsible for
research, investment management, product development and investment risk management.
He was also a member of the business management teams at Citigroup and Zurich Scudder.
A guest speaker at numerous investment conferences, Mr. Sharaff has also appeared
on various radio and television shows related to the investment markets.
Mr. Sharaff has a Bachelor of Science in Electrical Engineering from the University
of Aston (U.K.) and an MBA in Finance from the Manchester Business School (U.K.).
In addition, Mr. Sharaff sits on boards for CITIC Capital Asset Management, Clarfeld
Financial Advisors, and Transparent Value Trust.