Eric Efron

ERIC EFRON is Co-Manager of USAA Investment Management Company’s
Aggressive Growth Fund. He joined USAA in March 1992 as a Senior
Equities Securities Analyst. In March 1995, he assumed management of the
fund with colleague John Cabell. Since then, the fund has grown to $800
million in assets from $280 million. Prior to joining USAA, Mr. Efron
worked as an Equities Analyst for several banks and brokerage
operations, including Citizens and Southen Bank, Interstate Securities
and Merrill Lynch. Mr. Efron is a 1969 graduate of Oberlin College in
Oberlin, Ohio with a Bachelor of Arts degree in English. In 1974, he
earned a Master’s degree in Asian Studies from the University of
Michigan at Ann Arbor and he received a Master’s of Business
Administration from New York University in 1979. He served in
Intelligence with the U.S. Army Reserves from 1969 to 1975. Currently,
he is a member of the Association for Investment Management and Research
and the San Antonio Financial Analysis Society, Inc.