<PAGE>
                                                                    Exhibit 31.1

                        CERTIFICATE OF PERSON PERFORMING
                      FUNCTIONS OF CHIEF EXECUTIVE OFFICER

         I, Jeffrey S. Yager, 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-15(e) and 15d-15(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;

     (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; and

     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:  11/14/05
       --------

                                      /s/ Jeffrey S. Yager
                                      ------------------------------------
                                      Jeffrey S. Yager, Manager of YFP, LLC,
                                      General Partner
                                      DRY Limited Partnership, General Partner





                                       10