Ray serves as a portfolio manager on Madison's covered call strategies. Ray has been working in the financial services industry since 1984 and joined Madison in 2003. He earned his B.A. from the University of Western Ontario.

Mr. Justman is Vice President and Portfolio Manager/Analyst of Madison. Mr. Justman joined Madison in July 2005 as a research analyst, specializing in the materials and industrials sectors. Prior to joining Madison, Mr. Justman was with Merrill Lynch.