General Investing >> Money Manager Interviews >> January 24, 2005

P.ENGLISH / T.KELLNER – FIDUCIARY MANAGEMENT INC

TED D. KELLNER, Chairman and CEO, is one of the co-Founders of Fiduciary Management, Inc., and he is a member of the firm's Investment Policy Committee. He is primarily responsible for equity research for a variety of industries and is involved in the client servicing of several of the firm's institutional relationships. Mr. Kellner began his career as an analyst for Brittingham, Inc. (1968 to 1972) and then served as a Portfolio Manager at the Nicholas Company, Inc. (1973 to 1980). Mr. Kellner received a BBA degree from the University of Wisconsin and is a member and past President of the Milwaukee Analysts Society. He has earned the right to use the AIMR' Chartered Financial Analyst designation. Profile
PATRICK J. ENGLISH, President and Head of Equity Research at Fiduciary Management, Inc., joined the firm in 1986 and he is a member of its Investment Policy Committee. As the head of equity research, he is involved in coordinating the firm's research process. He covers companies across a variety of industries. Mr. English began his career as a Research Analyst with Dodge & Cox (1985 to 1986). He received a BA degree from Stanford University and is a member of the Milwaukee Analysts Society. He has earned the right to use the AIMR' Chartered Financial Analyst designation. Profile
TWST: Would you give us a brief overview of Fiduciary Management and its

overall investment philosophy?

Mr. Kellner: We just completed our 25th year. The firm was founded by

Don Wilson and