Global macro and thematic, run long and short.
Discovery is a global strategy, unconstrained across geography, asset class and sector, targeting absolute returns of 15% per annum. Macro and thematic, expressed long and short in liquid instruments, and run as a separately managed account since November 2024.
Live account, net of fees, 24 November 2024 to 31 July 2026. Past performance is not a reliable indicator of future results. Capital is at risk.
A live account, not a model.
The figures are from a live, separately managed account run since 24 November 2024: real trades and real fees, not a back-test or model portfolio. They are drawn from administrator and custodian records.
The full monthly record from inception, gross and net, is available to professional clients and eligible counterparties on request, with as-at dates on every figure.
Concentrated, unconstrained, sized by conviction.
We run a concentrated book, sized by conviction rather than benchmark weight. The mandate is unconstrained: developed and emerging markets, equities, rates, currencies and commodities, long and short, wherever the research finds asymmetry.
The strategy does not run a benchmark-relative book and does not trade index reweightings. It is built for allocators who want liquid, research-led, unconstrained global exposure.
Each position has a written thesis, a downside case and a defined exit trigger.
At a glance.
- Strategy
- Lundy Discovery Global Strategy
- Style
- Global and unconstrained: macro and thematic, long and short
- Objective
- Absolute returns; target 15% a year. The target is an objective, not a promise
- Inception
- 24 November 2024
- Vehicle
- Separately managed account, custodied at Interactive Brokers; a pooled vehicle is in development
- Strategy leads
- Wael Menhem and Edward Rowson
- Strategy AUM
- On request
- Eligibility
- Professional clients and eligible counterparties only
Past performance is not a reliable indicator of future results. Figures are net of fees, from inception on 24 November 2024 to 31 July 2026, and are drawn from administrator and custodian records. The value of investments can fall as well as rise and you may get back less than you invest.
Discuss Discovery and request the monthly record.
For allocators who want liquid, research-led, unconstrained global exposure, directly or through a managed account.