Turner Investment Partners Chairman Receives Beta Gamma Sigma Business Achievement Award

Business Wire, May 3, 2004

Business Editors

BERWYN, Pa.--(BUSINESS WIRE)--May 3, 2004

Bob Turner, chairman and chief investment officer of Turner Investment Partners, has been presented the Business Achievement Award by Beta Gamma Sigma, the national honorary fraternity for business-school students.

The award honors people for significant accomplishments in business and acts of generosity benefiting a community or education. Mr. Turner, 47, was nominated for the award by the Beta Gamma Sigma chapters at Loyola Marymount University and Bradley University. In 1990 he cofounded Turner Investment Partners, an investment firm that manages stock portfolios and mutual funds with more than $13 billion in assets for institutions and individuals.

Beta Gamma Sigma cited him for the award for these achievements, among others:

-- For establishing an organizational culture at Turner

Investment Partners that is generous in sharing profits with

employees and that encourages employees to be active in civic,

social-service, and educational activities outside of work. As

part of the firm's compensation system, all Turner employees

are eligible to receive an annual bonus and profit-sharing

units and to become principals awarded equity ownership in the

firm. Currently more than 60% of the staff, 60 of 98 people,

are principals.

-- For leading a crusade to apply asset limits to mutual funds

before they get too big, in the belief that such a practice is

in the best interest of investors. The firm has set

predetermined asset limits for its mutual funds and

institutional portfolios, which are closed to new investors

when their assets reach those limits. As Mr. Turner has noted

about this issue: "While enormous cash inflows certainly

enrich the companies that manage the funds, the benefits are

less certain for the investors. Research has demonstrated that

once assets in a particular fund reach a certain mass, on

average, performance tends to deteriorate. A fund can indeed

become too popular for its -- and its investors' -- own good."

-- For championing a novel concept that the mutual-fund industry

has called "turnerization" -- the relinquishing of marketing

rights for a mutual fund by an investment firm to a larger

firm, which then rebrands the fund under its own name.

According to Financial Research Corporation, a consulting

firm, turnerization may have the same "industry impact in the

2000s for small and mid-sized money managers that the fund

supermarket had in the 1990s after (Charles) Schwab pioneered

the concept."

-- For giving back to the local community and to his alma mater,

Bradley University, where he earned bachelor's and MBA

degrees. He is a member of the board of Bradley University,

Episcopal Academy, City Team Ministries, and the Turner Funds.

He and his wife Carolyn have funded the Turner Center for

Entrepreneurship in the Foster College of Business

Administration at Bradley University, which is designed to

help entrepreneurs of new or established businesses succeed.

The center has become a key element in a economic-development

program backed by public and private organizations in the

Peoria, Illinois, area. In addition, he has made significant

personal contributions to charities.

He has been called by Morningstar "one of the most gifted money managers of his generation," noting that few money mangers have compiled a record of investment performance superior to that of Bob Turner and his growth-stock investing team. As of March 31, 2004, nine of the 11 Turner funds that he and his team have managed from the outset have outperformed their indexes since inception -- "a record of remarkable consistency," Morningstar said.

He lives in Paoli, Pennsylvania, and is the father of four children.