1.

The client comes first.

2.

We treat all clients equally.

3.

We respect our professional counterparties. We treat them like partners, not like paid service providers.

4.

Not only do we uphold highest standards of regulatory compliance, but we strive to understand and respect how regulators may evolve their approach on a topic going forward. We want to be ‘backward looking compliant’ on a forward looking basis.

5.

We work hard to serve our clients; as hard as we would work to shepherd and grow our own assets.

6.

We aim to provide an investment perspective, which is more global than all local competitors, more local than all global competitors.

7.

We are humble in front of the markets. We constantly challenge our views and respect the power of reflecting on all viewpoints.

8.

We aim to deliver best-in-class performance. Performance is not only judged by returns, but also by resilience across unrealized alternative, but plausible and potentially hurtful, scenarios.