FAM Value Fund is co-managed by Thomas O. Putnam and John D. Fox. Their biographies appear below.

Tom Putnam is the Director of Research and the lead member of the Investment Research Team. He is responsible for the direction of portfolio management for Fenimore Asset Management, FAM Value Fund and FAM Equity-Income Fund. Mr. Putnam received a B.A. from the University of Rochester and a M.B.A. from Tulane University. Mr. Putnam founded the firm in 1974.

John Fox is the co-manager of the FAM Value Fund. Mr. Fox received a B.S. from Fairfield University, a M.B.A. from the University of Connecticut, and the Chartered Financial Consultant designation from the American College in Bryn Mawr, PA. In 1995, John earned his Chartered Financial Analyst (CFA) designation. Prior to joining Fenimore in 1996, Mr. Fox spent ten years in the financial services industry as financial analyst and as an executive in the life insurance industry.