Lansdowne duo stick to their guns despite 20% losses


Coming off the back of their worst-ever year, Stuart Roden and Peter Davies – co-managers of the big Lansdowne UK fund, which is soon to be renamed as the Lansdowne Developed Markets Fund – remain sanguine about prospects for their core holdings and their investment strategy in spite of the difficult market conditions and the fund’s poor performance in 2011.

Beginning a detailed and insightful December newsletter with an apology to their investors for the fund’s 20% loss last year – which marked its only significant down year in more than 10 years of otherwise spectacular performance –