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April 11, 2006
HO WANG JOINS GUARDIAN INVESTOR SERVICES TO MANAGE HIGH YIELD PORTFOLIO
New York, April 11, 2006 —Ho Wang has joined Guardian Investor Services LLC (GIS), an indirect, wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian), as Managing Director and portfolio manager of The Guardian High Yield Bond Fund and The Guardian VC High Yield Bond Fund. Wang comes to Guardian from Muzinich & Co. where he was a senior portfolio manager.
"We are pleased to welcome Ho Wang to our team," said Thomas G. Sorrell, President of the Park Avenue Portfolio family of mutual funds and Executive Vice President and Chief Investment Officer, Guardian Life Insurance Company of America." It is our belief that Ho's investment approach and team-oriented style will work quite well with our existing strong group of credit professionals. The breadth of his work and his solid background in high yield management will enable us to continue to strengthen our funds and build value for our investors."
At Muzinich Mr. Wang managed a $5 billion high yield total return portfolio and supervised a team of credit analysts and traders. Prior to Muzinich, Wang held senior investment positions at companies such as Fortis Advisers, Lord Abbett & Company and New York Life Insurance Company.
Wang a CPA, holds an MBA in finance from St. John's University and a BA in economics from Queens College, City University of New York.
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is the fourth largest mutual life insurance company in the United States. As of December 31, 2005, Guardian and its subsidiaries had $40.7 billion in assets (on a GAAP basis). With more than 5,000 employees and 3,000 financial representatives, as well as over 85 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health, long-term care and dental insurance products, and offer 401(k), financial products and trust services. More information about Guardian can be obtained at: www.guardianlife.com.
High Yield bond investing involves special risks. Investment in lower rated and unrated debt securities are subject to greater risk of loss of principal and interest than higher rated securities.
Bond funds are subject to interest rate risk. When interest rates rise, bond prices generally fall, and when interest rates fall, bond prices generally rise. Currently, interest rates are at historically low levels. Please keep in mind that in this kind of environment, the risk that bond prices may fall when interest rates rise is potentially greater.
Mutual funds, variable annuities and their underlying variable investment options are sold by prospectus only. Prospectuses contain important information, including fees and expenses, and should be read carefully before investing or sending money. You should consider the investment company's investment objectives, risks, fees and charges carefully before investing. Prospectuses contain this and other important information and can be obtained from your investment professional or by calling Guardian Investor Services LLC at 800-221-3253.
Mutual funds and variable annuities are issued by Guardian Investor Services LLC (GIS). Variable annuities are issued by The Guardian Insurance & Annuity Company Inc. (GIAC). GIS and GIAC are wholly owned subsidiaries of The Guardian Life Insurance Company of America.
Shares of The Park Avenue Portfolio family of mutual funds are not deposits or obligations of, or guaranteed or endorsed by, any bank or depository institution, nor are they insured by the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Association (NCUA), the Federal Reserve Board, or any other agency. The Fund involves investment risk, including possible loss of the principal amount invested.
Investment in the funds involve risks, including possible loss of the principal amount invested. Fund shares are subject to market fluctuations and, when redeemed, may be worth more or less than their original cost.
Guardian Investor Services LLC (GIS) is the distributor of The Park Avenue Portfolio family of mutual funds. GIS is an indirect wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian Life), New York, NY. GIS is located at 7 Hanover Square, New York, NY 10004. 800-221-3253
GIS is a member: NASD, SIPC.
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