Brian T. Penhale

The Vanguard Group, Inc. (VGI) is an independent registered investment advisor and mutual fund manager headquartered in Malvern, Pennsylvania. The firm was founded in 1975 by John Bogle. In 1976, they introduced the first indexed mutual fund, the First Index Investment Trust (now known as the Vanguard 500 Index Fund), to individual investors. VGI provides investment advisory services to Vanguard family of funds and Vanguard's non-US clients, which are comprised of the following: (1) funds established as trusts under the laws of the Province of Ontario in Canada and (2) separate account clients of Vanguard's international subsidiaries.

Founded in 2002, Philadelphia International Advisors LP is a registered investment advisor located in Philadelphia, Pennsylvania. The firm is a subsidiary of Philadelphia International Partners LP. They provide investment advisory services to a wide range of clients including public pension plans, corporations, Taft-Hartley plans, defined benefit plans, defined contribution plans, sub-advised funds, commingled funds, endowments, foundations, religious organizations, individuals (personal assets, estates, trusts), managed account (wrap) platforms, UMA platforms (non-discretionary) and others.