The Lansdowne Endowment Fund was launched in June 2019 and is managed by Martin Friedrich. The strategy aims to mimic the strategic behaviour of a large, long-term, unconstrained investor with an ability to ride out market cycles and invest in a counter-cyclical manner.

This investment objective shall be achieved primarily through investment in open-ended UCITS funds, which themselves seek exposure to equities, fixed income securities, real estate, commodities, currencies, insurance derivatives and hedge funds. The investment process is highly structured and follows these stages:

• Strategic Allocation

• Tactical Allocation

• Manager Selection

• Overlay Management

A risk target has been defined as a benchmark index, half of which is composed of global equities and half of global bonds:

• 50% MSCI World Net Total Return (in Euro)

• 50% Bloomberg Barclays Global Aggregate Net Total Return, Euro-Hedged

The fund has weekly liquidity and targets a 2-3% gross return over its benchmark.