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Board of Trustees


Bruce Aronow
Independent Trustee and Chair of the Board, Chair of the Audit Commitee Chief Executive Officer, eLocal USA LLC
Carmen A. Heredia-Lopez, CFA
Independent Trustee and Chair of the Nominating and Governance Commitee Chief Investment Officer of Illinois Student Assistance Commission
Robert Bernstein
Independent Trustee, Retired
John Spagnola
Interested Trustee Managing Director, PFM Asset Management LLC



John Spagnola
President and Chief Executive Officer
Valentine James Link, Jr.
Vice President
Daniel Hess
Marc Ammaturo
Assistant Treasurer and Secretary
Leo Karwejna
Chief Compliance Officer

Important Disclosure Information
This information does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security by anyone in any jurisdiction in which such offer or solicitation is not authorized, or in which the person making such offer is not qualified to do so, or to anyone to whom it is unlawful to make such an offer or solicitation, or to anyone in any jurisdiction outside the United States. Investors should consider the investment objectives, risks, charges and expenses before investing in any of the PFM Multi-Manager Series Trust (the “Trust”) portfolios (the “Funds”). This and other information about the Funds is available in the Funds’ current Prospectus and Statement of Additional Information which should be read carefully before investing. Each Fund is classified as diversified under the Investment Company Act of 1940, as amended (the “1940 Act”). Each Fund is a series of the Trust that was formed as a Delaware statutory trust on December 21, 2016 under an Agreement and Declaration of Trust (the “Trust Agreement”). The PFM Multi-Manager Domestic Equity Fund (the “Domestic Equity Fund”) will seek to provide long-term capital appreciation. The PFM Multi-Manager International Equity Fund (the “International Equity Fund”) will seek to provide long-term capital appreciation. The PFM Multi-Manager Fixed-Income Fund (the “Fixed-Income Fund”) will seek to maximize total return (capital appreciation and income) consistent with reasonable risk. An investment in a Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Funds are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) ( and Securities Investor Protection Corporation (SIPC) ( PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.


PFM Asset Management LLC (“PFMAM” or the “Adviser”) serves as the investment adviser to the Funds. As part of its management and oversight of the Funds, PFMAM selects investment advisers to serve as sub-advisers, and determines the allocation of each Fund’s assets among the selected sub-advisers. In its discretion, PFMAM may allocate no assets to a given sub-adviser. Each sub-adviser manages a portion of one or more of the Funds.