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Exhibit 31.2

CERTIFICATE OF PERSON PERFORMING
FUNCTIONS OF CHIEF FINANCIAL OFFICER

I, Thomas K. Emery, certify that:

1.     I have reviewed this quarterly report on Form 10-QSB of Yager/Kuester
Public Fund Limited;

2.     Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

3.     Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this report;

4.     The registrants other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-1415(e) and 15d-1415(e)) for the registrant and we have:



| | (a) |  | Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the
registrant, is made known to us, particularly during the period in
which this report is being prepared;                                                                                                                                  
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|
| | (b) |  | Evaluated the effectiveness of the registrants disclosure
controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as
of the end of the period covered by this report based on such
evaluation; and                                                                                                                                                    
|
| | (c) |  | Disclosed in this report any change in the registrants
internal control over financial reporting (as defined in Exchange Act
Rules 13a-15(f) and 15d-15(f)) that occurred during the registrants
most recent fiscal quarter (the registrants fourth quarter in the
case of an annual report) that has materially affected, or is
reasonably likely to materially affect, the registrants internal
control over financial reporting.

5.     The registrants other certifying officer and I have disclosed, based
on our most recent evaluation of internal control over financial reporting, to
the registrants auditors and the audit committee of the registrants board of
directors (or persons performing the equivalent functions):

(a)  All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrants ability to record, process,
summarize and report financial information; and

(b)  Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrants internal control over
financial reporting.

|                   |  |                    
|------------------ |  | -------------------
|Date: May 14, 2004 |  |                    
|                   |  |                    
|                   |  | /s/ Thomas K. Emery
|                   |  |                    
|                   |  | Thomas K. Emery