Aashima Chandiok
Research Associate

Aashima conducts investment research and works with Angeles consultants in developing investment recommendations for our clients' portfolios. She also participates in manager research, investigating new investment manager candidates as well as incumbent managers, which includes reviews of risk-adjusted performance, investment philosophy and process, and the investment team. Prior to joining Angeles, Aashima was in India volunteering with the UK-Based Charity, Full Circle. As a part of the creative literacy program, she utilized art and drama techniques to teach English and self-expression to children between the ages of 8 and 12.

Aashima received a B.S. in Mathematics-Economics and a Minor in Spanish from the University of California, Los Angeles. While there, she was an active member of the sorority, Delta Delta Delta, managing their finances as appointed Treasurer. Aashima recently passed Level I of the CFA Exam.

Justin Han
Hedge Fund Research Analyst

Justin joined Angeles Investment Advisors in 2008. He is responsible for assisting in hedge fund investment research for the firm’s clients. His role includes performing due diligence on potential hedge fund investments, evaluating investment strategy, and reviewing their investment philosophy and processes. Justin is also involved in the ongoing monitoring of approved funds.

Previously, Justin was an Analyst at UBS Investment Bank in San Francisco. As part of the UBS Housing Finance Group, Justin provided transactional and quantitative support for the origination of –mortgage-backed securities and whole loan mortgage revenue bonds.

Justin graduated from Stanford University with both a B.A. in Economics and M.S. in Management Science & Engineering.

Leslie B. Kautz, CFA
Principal

Leslie was a founder of Angeles Investment Advisors in 2001 and of Asset Strategy Consulting in 1991. Leslie is a specialist at developing and effectively implementing strategic investment policy, and providing practical perspective on all aspects of an investment program.

Leslie has a thorough knowledge of the special issues institutions face in the development and implementation of a cost effective investment program, and has assisted several in structuring their investment programs at their inception, including developing asset allocation policy and structure, selecting managers, providing trustee education, and overseeing investment results. She has authored several published papers on international investing, and as a founder of the firm plays a role in overseeing the business. 

Prior to founding Asset Strategy, Leslie spent eight years working as a policy analyst in the legislative and executive branches in Washington, D.C.  Leslie received her B.A. from Carleton College, and her Masters in Public Affairs from Princeton University’s Woodrow Wilson School of Public and International Affairs.  She is a Chartered Financial Analyst (since 1993) and a member of the CFA Society of Los Angeles. Leslie is a trustee of a family foundation and of her alma mater, Carleton College, as well as a board member of the Spondylitis Association of America.

Anna L. McGibbons, CFA
Consultant

Anna is a Consultant at Angeles and an owner of the firm.  Anna is the consultant on several client relationships and conducts manager research across asset classes, with a focus on hedge funds. Anna also participates in capital markets research at the firm.

Anna joined Angeles Investment Advisors at its founding in 2001, having started her career at Asset Strategy Consulting in 1999. After working in the performance analytics group at Asset Strategy Consulting, Anna moved to the manager research team to engage in the analysis and due diligence process involved in hiring and terminating money managers. In her current position, Anna is responsible for investment research, performance analysis, and delivery of investment recommendations for our clients’ portfolios.  Additionally, she coordinates the manager research process, where she is responsible for the initial research of new investment manager candidates and existing managers including review of risk-adjusted performance, investment philosophy and process, and quality of personnel.  Anna also has direct client responsibility for many of the firm’s foundation, endowment, defined benefit, and defined contribution clients. 

Anna received a BA in Business/Economics at the University of California, Santa Barbara, and graduated with honors.  She is a Chartered Financial Analyst (since 2002) and is a member of the Los Angeles Society of Financial Analysts.

Shana Mulkerin
Consultant

Shana Mulkerin joined Angeles Investment Advisors in 2005 from Wilshire Associates. At Wilshire Associates, Shana worked with many types of sizes of institutional investment funds, including large high-profile pension funds, corporate plans, endowments and foundations to develop and implement investment strategies. Her focus was on investment manager searches/due diligence, investment structure reviews, policy development, strategic asset allocation and educational presentations.  She was also responsible for developing Wilshire’s private real estate research effort and served on the manager research committee that evaluated international and emerging market managers.

Prior to her investment career, Shana spent four years as an advertising executive, developing television, print and radio campaigns for multinational companies at Saatchi & Saatchi and BBDO West.

Shana is an honors graduate of the Anderson School at UCLA, where she earned an M.B.A. with concentrations in Finance and Emerging Market Economics.  She received her Bachelor’s degree in Philosophy from Harvard University, where she was a National Honor Scholar and captain of the varsity women’s lacrosse team.

Howard D. Perlow, CFA
Principal

Howard is one of the founding partners of Angeles Investment Advisors. Howard leads the firm's consulting activities to healthcare organizations. In addition, he is responsible for working with private pension plans and foundations. Howard maintains an expertise in the research of investment managers. He has been researching managers for fifteen years and has conducted hundreds of manager searches for billions of dollars.

Howard has worked in the investment consulting industry since 1986. Prior to the formation of Angeles, Howard was a founding partner and Chief Operating Officer of Asset Strategy Consulting. His career in the investment business began at Wilshire Associates where he was a member of the consulting team and was in charge of the firm's international and fixed income manager search activities. Howard also spent two years as a performance measurement analyst and designed the performance measurement and manager database systems of Asset Strategy Consulting.

Howard received his BA in Economics from the University of California, Irvine. He is a Chartered Financial Analyst.

Andrew E. Rasmusen, CFA
Senior Consultant

Andrew is a Senior Consultant at Angeles Investment Advisors, LLC and is responsible for consulting to clients on a variety of investment issues and for conducting investment research. He came to Angeles in 2003 with over 19 years of investment experience in consulting and manager research and through roles at an investment management firm in consultant relations and product management. His knowledge of the institutional investment community benefits from the thousands of investment manager interviews he has conducted over his career.

Andrew joined Angeles from Dimensional Fund Advisors, one of the largest independently owned investment management firms in the world, where he was a Vice President in charge of consultant relations and an owner of the firm. Prior to that, he headed manager research at Asset Strategy Consulting and William M. Mercer Investment Consulting and was a senior investment consultant with Hewitt Associates.

Andrew holds an MBA with a Finance Specialization from the University of Chicago and a BS in Finance with Honors from the University of Illinois at Urbana-Champaign. He is also a CFA Charter holder (since 1992) and is a member of the Los Angeles Society of Financial Analysts. Andrew is also a past Board member and current Investment Committee Chair for the Santa Monica Malibu Education Foundation

Michael A. Rosen
Principal & Chief Investment Officer

Michael has over 23 years experience as institutional portfolio manager, investment strategist, and investment consultant. His sole responsibility is working with clients to determine appropriate investment policy, asset allocation strategy and its implementation. Michael has extensive experience in all areas of the investment business. From 1993-1997 he was the Investment Manager for Blue Cross of California/WellPoint Health Networks with investment assets of over $3 billion. He managed a substantial portfolio of fixed income and equity assets internally and oversaw all outside investment managers. He was also responsible for managing WellPoint's $1.25 billion public and private debt program, as well as asset/liability management for the company. Michael also assisted in the development of two foundations, following WellPoint's public conversion, with combined assets of $3 billion. Previous to 1993, he spent a total of 8 years as Vice President & Market Strategist with First Interstate Bank, Ltd. and as a derivative trader with Barclays Bank plc.

Michael was an Adjunct Professor of Finance at Pepperdine University from 1991-2000. He earned his Bachelor of Arts, magna cum laude, from Tufts University and Master of Arts in Law and Diplomacy from The Fletcher School of Law and Diplomacy (Tufts/Harvard).

Stephen T. Smetana
Director of Funds Management & Chief Compliance Officer

Steve joined Angeles Investment Advisors in 2008 as the Director of Funds Management and Chief Compliance Officer. Prior to joining Angeles, Steve was CFO at Rosehill Capital Management, a Los Angeles hedge fund complex focused on Japanese securities. He also served as CFO/CCO for Mikles Miller Management, another Los Angeles based hedge fund complex. From 1996 until 2004 he was CFO/CCO of the Windward Capital Management Group. While at Windward, Steve helped to create and manage both an SEC registered investment adviser and an SEC/NASD registered broker/dealer.

Prior to joining Windward, Steve spent seven years in public accounting at Coopers & Lybrand and Ernst & Young specializing in the financial services industry. He received his BBA in Accounting from the University of Notre Dame, graduating with honors in 1989, and is registered as a certified public accountant (CPA) with the state of California.