Mr. Monrad joined Northeast Investors Trust as an analyst in July 1989, as a trustee and portfolio manager, specializing in high-yield, leverage securities in May, 1993 and Chairman in May, 2000. Previously, he was a financial analyst with Prudential-Bache Securities from 1984 to 1987. Mr. Monrad holds the Chartered Financial Analyst designation.

Chapin P. Mechem has been associated with the Trust since 2001 as a securities analyst and now shares portfolio management duties with Mr. Monrad.