EXTON, Pa., April 10, 2006 (PRIMEZONE) -- Knott Capital is proud to announce today that Peter M. Schofield, CFA, has been made a principal with the firm. Pete works closely with the firm's other investment professionals, Charles A. Knott, Knott Capital's founder and Chief Investment Officer, and Michael Barron, the firm's Chief Executive Officer. He will continue to serve as Managing Director and a voting member of the investment committee, the title and position he has held since joining the firm,
"We're extremely pleased with the contributions Pete has made to Knott Capital," says Mr. Knott. "Pete's intellect, work ethic, and passion for research and portfolio management have played a vital role in the growth we've enjoyed since he joined the firm. We think the best is yet to come."
"We recognize that an important part of our business plan is to be able to share our success with the people who helped create it," says Mr. Barron. "We want to attract, incent, and retain experienced, qualified professionals like Pete."
Messrs. Knott and Barron courted Mr. Schofield for several months before he made the decision to join the firm last spring.
"Charlie and Michael have always had a clear vision of Knott Capital's future and they've emphasized and proven that they want to recruit and retain individuals like myself who can participate in the growth, success, and equity of the company," says Schofield. "It's a different incentive and motivation when you come to work every morning knowing you're an owner of the firm."
Mr. Schofield joined Knott Capital in April 2005 after spending two decades in the investment management industry. More recently, he was a vice president and portfolio manager at Sovereign Asset Management (a subsidiary of John Hancock Advisers), where he co-managed approximately $3 billion in client assets, including the Sovereign Investors Mutual Fund. He previously served as portfolio manager at Geewax Terker & Company. He earned his B.A. degree in history from the University of Pennsylvania and is a Chartered Financial Analyst.
About Knott Capital
Knott Capital, founded in 1998, is a private, independently owned investment advisory firm. Founded on the philosophy of preservation of principal, Knott Capital manages $1 billion for institutional and private clients using a unique proprietary investment process that combines top-down macroeconomic and sector analysis with stringent bottom-up security research. Its focused, unique, risk-averse approach to investment methodology is available to clients through Equity Separate Accounts, Quaker Capital Opportunities Fund -- a mutual fund managed by Knott Capital and distributed by Quaker Funds Inc. -- and the AEGIS Fund, a private investment partnership open to qualified investors and institutions.