Investment and Research Staff

Our Investment Professionals are comprised of a team of executives who are committed to value investing, integrity and exceptional customer service — the keystones upon which our firm is built. Together, they have created a company that embodies the same principles as those in which we seek to invest our clients’ and our personal assets: operational excellence, good corporate governance and succession planning.

Robert E. Killen

Chairman & Chief Executive Officer, The Killen Group

BS Chemical Engineering, City College of New York; MS Nuclear Science, Rensselaer Polytechnic Institute. Over 40 years experience in Investment Management. Manager, 1984-2001, and Co-Lead Manager since September, 2001 of Berwyn Fund. Co-Lead Manager of Berwyn Cornerstone Fund from May, 2002-2008. Member, Investment Management Committee.

Raymond J. Munsch

President & Chief Operating Officer

BS Economics, Wharton School, University of Pennsylvania; MBA Finance, Darden School, University of Virginia. Over 35 years experience in Investment Management. Member, CFA Institute and CFA Society of Philadelphia. Co-Lead Portfolio Manager, since 2009, of Berwyn Income Fund. Member, Investment Management Committee.

Lee S. Grout, CFA

Vice President & Head of Research

BBA Finance, Bishops University; Chartered Financial Analyst. Over 15 years experience in Investment Management. FINRA Series 2 & 65. Member, CFA Institute and CFA Society of Philadelphia. Co-Lead Manager of Berwyn Fund since September, 2001 and Berwyn Cornerstone Fund since May, 2002. Member, Investment Management Committee.

George J. Cipolloni III, CFA

Research Analyst

BS Business Administration, cum laude, Drexel University; Chartered Financial Analyst. Over 10 years experience in Financial Analysis. Member, CFA Institute and CFA Society of Philadelphia. Co-Lead Portfolio Manager, since 2006, of Berwyn Income Fund. Co-Lead Manager since 2008, of Berwyn Cornerstone Fund. Member, Investment Management Committee.

Allen A. Chapracki, CFA, CPA

Research Analyst

BS Finance, cum laude, The Pennsylvania State University; Chartered Financial Analyst. Over seven years of experience in Financial Services. Member, CFA Institute and CFA Society of Philadelphia, American Institute of Certified Public Accountants.

Ryan C. MacLean, CFA

Research Analyst

BS Management Science and Information Systems, The Pennsylvania State University; MBA, Terry College of Business, University of Georgia. Member, CFA Institute and CFA Society of Philadelphia. Over four years of experience in Financial Analysis.

Mark J. Saylor, CFA

Research Analyst

BA Economics and Finance, cum laude, Eastern University. Over five years experience in Financial Analysis. Member, CFA Institute and CFA Society of Philadelphia.

Luis A. Sepulveda, Jr.

Head, Portfolio Trading

BS Business Administration, Villanova University. Over 10 years of Investment Services experience.