The European Long Only Strategy was launched by Lansdowne Partners in January 2005 and is managed by Daniel Avigad.

The TM Lansdowne European Special Situations Fund aims to invest primarily in the equity and equity-related securities of European, excluding UK, companies which are identified as being undervalued and where it is believed that there is potential for both significant creation of value in the company and/or significant potential for revaluation of the equity.  The Fund will seek to achieve its investment objective by investing in the European (ex UK) companies, exposure to these companies will normally be a minimum of 80% of net equity investments but is typically expected to range between 80-100%. The Fund’s net exposure will normally be c.100% invested. The Fund’s equity exposure will be confined to companies which are listed or traded on an exchange.

The Fund cannot leverage or borrow for investment purposes, nor will it invest in any derivative instruments, other than foreign exchange contracts for share class hedging purposes.