Brandywine's Investment Philosophy

Brandywine's investment philosophy is based on the belief that the most consistent and persistent investment returns across a variety of market environments are best achieved by combining multiple uncorrelated trading strategies - each designed to profit from a logical, distinct return driver - into a truly diversified investment portfolio. As a result of this belief, Brandywine has researched thousands, and incorporated dozens, of unique futures trading strategies over the past thirty years. These strategies encompass a diverse range of variables, including: fundamental, seasonal, sentiment, arbitrage and technical factors - the majority of them producing returns that are uncorrelated to trend following futures traders. That said, Brandywine also employs short and longer term trend following strategies to ensure that Brandywine's Symphony Program is positioned in the direction of major trends when they occur. As a result, Brandywine tends to be uncorrelated to trend following traders during choppy market periods (when its performance is dominated by its fundamental, arbitrage and other non-trend strategies), but correlated to trend following traders during strongly trending periods. This favorable performance profile means that adding Brandywine to a portfolio of trend following traders can increase the portfolio's risk-adjusted rate of return, sometimes substantially.