Mr. Dektart is the principal and the Chief Investment Officer at Smith Breeden Associates, Inc.

He is the co-head of Smith Breeden's Investment Management Group and is responsible for leading the investment

process and investment theme development at Smith Breeden. He provides a specialist focus on both real and nominal

rates and yield curve strategies. He also has responsibilities for managing client portfolios. Mr. Dektar was an Associate in the

Mergers and Acquisitions Group of Montgomery Securities in San Francisco and a Financial Analyst in the Investment Banking

Division of Morgan Stanley in New York and Tokyo before joining Smith Breeden in 1986. He holds an MBA with a concentration

in finance from the Stanford University Graduate School of Business, where he was an Arjay Miller Scholar. Mr. Dektar received a

BS in Business Administration from the University of California at Berkeley, where he was a University of California Regents' Scholar.