United States Commodity Index Funds Trust
Officers & Directors
John P. Love, 44, President and Chief Executive Officer of USCF since June 2015.
Mr. Love previously served as a Senior Portfolio Manager for the Related Public
Funds from March 2010 through June 2015. Prior to that, while still at USCF, he
was a Portfolio Manager beginning with the launch of USO in April 2006. Mr. Love
was the portfolio manager of USO from April 2006 until March 2010 and the portfolio
manager for USL from December 2007 until March 2010. Mr. Love has been the portfolio
manager of UNG since April 2007, and the portfolio manager of UGA, UHN, and UNL
since March 2010. Additionally, Mr. Love serves as President of USCF Advisers
LLC, an investment adviser registered under the Investment Advisers Act of 1940,
as amended and has acted as co-portfolio manager of the Stock Split Index Fund,
a series of the USCF ETF Trust for the period from September 2014 to December
2015, when he was promoted to the position of President and Chief Executive Officer
upon Mr. Gerber’s resignation from those positions. Mr. Love has been a
principal of USCF listed with the CFTC and NFA since January 17, 2006. Mr. Love
has been registered as an associated person of USCF since February 2015 and from
December 1, 2005 to April 16, 2009. Additionally, Mr. Love has been approved as
an NFA swaps associated person since February 2015. Mr. Love earned a B.A. from
the University of Southern California, holds NFA Series 3 and FINRA Series 7 registrations
and is a CFA Charterholder.
Nicholas D. Gerber, 53, Chairman of the Board of Directors of USCF since June
2005. Mr. Gerber also served as President and Chief Executive Officer of USCF
from June 2005 through June 2015 and Vice President since June 2015. Mr. Gerber
co-founded USCF in 2005 and prior to that, he co-founded Ameristock Corporation
in March 1995, a California-based investment adviser registered under the Investment
Advisers Act of 1940 from March 1995 until January 2013. From January 26, 2015
to the present, Mr. Gerber is also the Chief Executive Officer, President and
Secretary of Concierge Technologies, Inc. (“Concierge”), a supplier
of mobile video recording devices thru its wholly owned subsidiary Janus Cam.
Concierge is not affiliated with USCF and the Related Public Funds, other than
through ownership by common control. Concierge is a publicly traded company under
the ticker symbol “CNGC.” From August 1995 to January 2013, Mr. Gerber
served as Portfolio Manager of Ameristock Mutual Fund, Inc. On January 11, 2013,
the Ameristock Mutual Fund, Inc. merged with and into the Drexel Hamilton Centre
American Equity Fund, a series of Drexel Hamilton Mutual Funds. Drexel Hamilton
Mutual Funds is not affiliated with Ameristock Corporation, the Ameristock Mutual
Fund, Inc. or USCF. From the period June 2014 to the present, Mr. Gerber also
serves as Chairman of the Board of Trustees of USCF ETF Trust, an investment company
registered under the Investment Company Act of 1940, as amended, and has previously
served as President of USCF Advisers LLC, an investment adviser registered under
the Investment Advisers Act of 1940, as amended. In addition to his role as Chairman
of the Board of USCF ETF Trust, he also served as its President and Chief Executive
Officer from June 2014 until December 2015. In these roles, Mr. Gerber has gained
extensive experience in evaluating and retaining third-party service providers,
including custodians, accountants, transfer agents, and distributors. Mr. Gerber
has been a principal of USCF listed with the CFTC and NFA since November 2005,
an NFA associate member and associated person of USCF since December 2005 and
a Branch Manager of USCF since May 2009. Mr. Gerber earned an MBA degree in finance
from the University of San Francisco, a B.A. from Skidmore College and holds an
NFA Series 3 registration.
Stuart P. Crumbaugh, 52, Chief Financial Officer, Secretary and Treasurer of USCF
since May 2015. Mr. Crumbaugh has been a principal of USCF listed with the CFTC
and NFA since July 1, 2015. Mr. Crumbaugh joined USCF as the Assistant Chief Financial
Officer on April 6, 2015. Prior to joining USCF, Mr. Crumbaugh was the Vice President
Finance and Chief Financial Officer of Sikka Software Corporation, a software
service healthcare company providing optimization software and data solutions
from April 2014 to April 6, 2015. Mr. Crumbaugh served as a consultant providing
technical accounting, IPO readiness and M&A consulting services to various
early stage companies with the Connor Group, a technical accounting consulting
firm, for the periods of January 2014 through March 2014; October 2012 through
November 2012; and January 2011 through February 2011. From December 2012 through
December 2013, Mr. Crumbaugh was Vice President, Corporate Controller and Treasurer
of Auction.com, LLC, a residential and commercial real estate online auction company.
From March 2011 through September 2012, Mr. Crumbaugh was Chief Financial Officer
IP Infusion Inc., a technology company providing network routing and switching
software enabling software-defined networking solutions for major mobile carriers
and network infrastructure providers. Mr. Crumbaugh was the Global Vice President
of Finance at Virage Logic Corporation, a semi-conductor IP and software company
(acquired by Synopsys, Inc., a software company), from January 2010 through December
2010. Mr. Crumbaugh earned a B.A. in Accounting and Business Administration from
Michigan State University in 1987 and is a Certified Public Accountant –
Michigan (inactive).
Andrew F. Ngim, 55, co-founded USCF in 2005 and has served as a Management Director
since May 2005. Mr. Ngim has served as the portfolio manager for USCI, CPER and
USAG since January 2013. Mr. Ngim also served as USCF’s Treasurer from June
2005 to February 2012. Prior to and concurrent with his services to USCF, from
January 1999 to January 2013, Mr. Ngim served as a Managing Director for Ameristock
Corporation which he co-founded in March 1995 and was Co-Portfolio Manager of
Ameristock Mutual Fund, Inc. from January 2000 to January 2013. From the period
September 2014 to the present, Mr. Ngim also serves as portfolio manager of the
Stock Split Index Fund, a series of the USCF ETF Trust, as well as a Management
Trustee of the USCF ETF Trust from the period of August 2014 to the present. Mr.
Ngim has been a principal of USCF listed with the CFTC and NFA since November
2005. Mr. Ngim earned his B.A. from the University of California at Berkeley.
Robert L. Nguyen, 56, Management Director and principal since July 2015. Mr. Nguyen
has served on the Board of Wainwright Holdings Inc. since December 2014. Mr. Nguyen
co-founded USCF in 2005 and served as a Management Director until March 2012.
Mr. Nguyen was an Investment Manager with Ribera Investment Management, a high
net worth money management firm, from January 2013 to March 2015. Prior to and
concurrent with his services to USCF, from January 2000 to January 2013, Mr. Nguyen
served as a Managing Principal for Ameristock Corporation, a California-based
investment adviser registered under the Investment Advisers Act of 1940, which
he co-founded in March 1995. Mr. Nguyen was a principal of USCF listed with the
CFTC and NFA from November 2005 to March 2012 and since December 2015. Mr. Nguyen
earned his B.S. from California State University at Sacramento.
Melinda D. Gerber, 48, Management Director of USCF since June 2015. Ms. Gerber
co-founded USCF in 2005. She is a writer and published her book, How to Create
and manage a Mutual Fund or Exchange-Traded Fund: A Professional’s Guide
(Wiley, 2008). Ms. Gerber has been a principal of USCF listed with the CFTC and
NFA since November 2005. Ms. Gerber co-founded USCF in 2005 and prior to that,
she co-founded Ameristock Corporation in March 1995, a California-based investment
adviser registered under the Investment Advisers Act of 1940 from March 1995 until
January 2013. From March 1995 to January 2013, Ms. Gerber served as Secretary
on the Board of Directors for the Ameristock Corporation and Ameristock Mutual
Fund. Concurrent to her service as Secretary during the period of September 1994
to June 1999, Ms. Gerber was a project manager and consultant at GAP, Inc. a global
apparel retail company. She was recognized by GAP, Inc., as one of the five most
innovative individuals in the company. Ms. Gerber earned an MBA from the University
of Southern California in 1994 and graduated from the University of California
at Santa Barbara in 1990.
Ray W. Allen, 59, Portfolio Manager of USCF since January 2008. Mr. Allen was
the portfolio manager of UGA from February 2008 until March 2010, the portfolio
manager of UHN from April 2008 until March 2010 and the portfolio manager of UNL
from November 2009 until March 2010. Mr. Allen has been the portfolio manager
of DNO since September 2009, and the portfolio manager of USO and USL since March
2010 and the manager of BNO since June 2010. Mr. Allen has been a principal of
USCF listed with the CFTC and NFA since March 2009 and has been registered as
an associated person of USCF since July 2015 and from March 2008 to November 2012.
Additionally, Mr. Allen has been approved as an NFA swaps associated person since
July 2015. Mr. Allen earned a B.A. in economics from the University of California
at Berkeley and holds an NFA Series 3 registration.
Carolyn M. Yu, 57, General Counsel and Chief Compliance Officer of USCF since
May 2015 and February 2013, respectively, and from August 2011 through April 2015,
Ms. Yu served as Assistant General Counsel. Since May 2015, Ms. Yu has served
as Chief Legal Officer and Chief Compliance Officer of USCF Advisers LLC and USCF
ETF Trust as well as Chief AML Officer of USCF ETF Trust. Prior to May 2015, Ms.
Yu was the Assistant Chief Compliance Officer and AML Officer of the USCF ETF
Trust. Previously, Ms. Yu served as Branch Chief with the Securities Enforcement
Branch for the State of Hawaii, Department of Commerce and Consumer Affairs from
February 2008 to August 2011. She has been a principal of USCF listed with the
CFTC and NFA since August 2013. Ms. Yu earned her JD from Golden Gate University
School of Law and a B.S. in business administration from San Francisco State University.
Gordon L. Ellis, 69, Independent Director of USCF since September 2005. Previously,
Mr. Ellis was a founder of International Absorbents, Inc., its Class 1 Director
and Chairman since July 1985 and July 1988, respectively, and Chief Executive
Officer and President since November 1996. He also served as a director of Absorption
Corp., a wholly-owned subsidiary of International Absorbents, Inc., which is a
leading developer and producer of environmentally friendly pet care and industrial
products from May 2010 until March 2013 when International Absorbents, Inc. and
Absorption Corp. were sold to Kinderhook Industries, a private investment banking
firm. Concurrent with that, he founded and has served as Chairman from November
2000 to May 2010 of Lupaka Gold Corp., f/k/a Kcrok Enterprises Ltd., a firm that
acquires, explores, develops, and evaluates gold mining properties in Peru, South
America. Mr. Ellis has his Chartered Directors designation from The Director’s
College (a joint venture of McMaster University and The Conference Board of Canada).
He has been a principal of USCF listed with the CFTC and NFA since November 2005.
Mr. Ellis is an engineer and earned an MBA in international finance.
Malcolm R. Fobes III, 51, Independent Director of USCF and Chairman of USCF’s
audit committee since September 2005. He founded and is the Chairman and Chief
Executive Officer of Berkshire Capital Holdings, Inc., a California-based investment
adviser registered under the Investment Advisers Act of 1940 that has been sponsoring
and providing portfolio management services to mutual funds since June 1997. Mr.
Fobes serves as Chairman and President of The Berkshire Funds, a mutual fund investment
company registered under the Investment Company Act of 1940. Since 1997, Mr. Fobes
has also served as portfolio manager of the Berkshire Focus Fund, a mutual fund
registered under the Investment Company Act of 1940, which concentrates its investments
in the electronic technology industry. He was also contributing editor of Start
a Successful Mutual Fund: The Step-by-Step Reference Guide to Make It Happen (JV
Books, 1995). Mr. Fobes has been a principal of USCF listed with the CFTC and
NFA since November 2005. He earned a B.S. in finance with a minor in economics
from San Jose State University in California.
Peter M. Robinson, 58, Independent Director of USCF since September 2005. Mr.
Robinson has been a Research Fellow since 1993 with the Hoover Institution, a
public policy think tank located on the campus of Stanford University. He authored
three books and has been published in the New York Times, Red Herring, and Forbes
ASAP and is the editor of Can Congress Be Fixed': Five Essays on Congressional
Reform (Hoover Institution Press, 1995). Mr. Robinson has been a principal of
USCF listed with the CFTC and NFA since December 2005. He earned an MBA from the
Stanford University Graduate School of Business, graduated from Oxford University
in 1982 after studying politics, philosophy, and economics and graduated summa
cum laude from Dartmouth College in 1979.
The following are individual Principals, as that term is defined in CFTC Rule
3.1, for USCF: John P. Love, Stuart P. Crumbaugh, Nicholas D. Gerber, Melinda
Gerber, the Nicholas & Melinda Gerber Living Trust, dated November 9, 2005,
the Gerber Family Trust FBO Jacob & Vasch, Eliot Gerber, Sheila Gerber, Jennifer
Schoenberger and Scott Schoenberger, Andrew Ngim, Robert Nguyen, Peter Robinson,
Gordon Ellis, Malcolm Fobes, Ray Allen, Carolyn Yu and Wainwright Holdings Inc.
The individuals who are Principals due to their positions are John P. Love, Stuart
P. Crumbaugh, Nicholas D. Gerber, Melinda Gerber, Andrew Ngim, Robert Nguyen,
Peter Robinson, Gordon Ellis, Malcolm Fobes, Ray Allen, and Carolyn Yu. In addition,
Nicholas D. Gerber, Melinda Gerber, the Nicholas & Melinda Gerber Living Trust,
dated November 9, 2005, Gerber Family Trust FBO Jacob & Vasch, Eliot Gerber,
Sheila Gerber, Jennifer Schoenberger and Scott Schoenberger are Principals due
to their controlling stake in Wainwright. None of the Principals owns or has any
other beneficial interest in UGA. Ray Allen and John P. Love make trading and
investment decisions for UGA. John P. Love and Ray Allen execute trades on behalf
of UGA. In addition, Nicholas D. Gerber, John P. Love, Robert Nguyen, and Ray
Allen are registered with the CFTC as Associated Persons of USCF and are NFA Associate
Members. John P. Love, Robert Nguyen, and Ray Allen are also registered with the
CFTC as Swaps Associated Persons.
United States Commodity Index Funds Trust currently has 57 employees.
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