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July 28, 2005
Manind Govil to Head The Guardian Park Avenue Fund
Former Mercantile executive brings extensive investment experience to Guardian funds
NEW YORK, N.Y., July 28, 2005 — Manind Govil has joined Guardian Investor Services LLC (GIS), an indirect, wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian), as Head of Equity Investments and Portfolio Manager of The Guardian Park Avenue Fund® (GPAFX) and The Guardian Stock Fund. Govil comes to Guardian from Mercantile Capital Advisors, where he was most recently Co-Head of Equities, Head of Equity Research and Lead Portfolio Manager of the large cap core Mercantile Growth & Income Fund (MVAEX).
Govil will run The Guardian Park Avenue Fund, Guardian's flagship mutual fund, and The Guardian Stock Fund, an investment option under Guardian variable insurance products. He also will oversee Guardian's Common Stock Department, supervising its portfolio managers, research analysts and trading desk. Govil will report to Thomas Sorell, President of The Park Avenue Portfolio® family of funds and Chief Investment Officer of Guardian.
"We're extremely pleased to have Manind join us to manage The Guardian Park Avenue Fund," Sorell said. "He has 12 years of investment experience at Mercantile, where he managed the Mercantile Growth & Income Fund. We believe that under his leadership, The Guardian Park Avenue Fund and its shareholders will benefit from his expertise."
At Mercantile, as Lead Portfolio Manager, Govil managed $2.2 billion in assets. He helped to develop, refine and implement a "Large Cap Core Equity" investment philosophy and research process. Govil's responsibilities included management of approximately $1.7 billion in institutional and high-net-worth portfolios, and the supervision of research analysts and institutional portfolio managers and support staff. He was also a member of Mercantile's Investment Policy Committee, which sets overall investment direction for institutions and established an investment strategy for $5 billion in equity assets. Prior to joining Mercantile, he was with Covansys Corporation in Ohio and began his career with KPMG Peat Marwick in India.
Govil holds a Bachelor of Commerce Degree in Accounting from the University of Bombay in India and an M.B.A. in Finance and Information Systems from the University of Cincinnati. He is a Chartered Financial Analyst, and is a member of the Association for Investment Management and Research as well as the American Association of Individual Investors.
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, 2004, Guardian and its subsidiaries had $39.5 billion in assets. With more than 5,000 employees and 2,900 financial representatives, as well as over 80 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k), financial products and trust services. More information about Guardian can be obtained at: www.guardianlife.com.
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