SPINOZA ENTREPRENEUR FUND

Equity fund with a particular focus on
entrepreneurially managed companies

Successful entrepreneurs invest with a long-term horizon and are opportunity-oriented. The focus is on long-term value appreciation and strategic development of the company, delivering highly attractive returns. Listed companies often show a very significant long-term outperformance if there is a long-term oriented family, a founder or a management with a significant shareholding in the company.

The Spinoza Entrepreneur Fund is primarily focused on concentrated investments in listed companies, predominantly based in Europe and managed with an entrepreneurial approach. Typical characteristics of the selected companies are among others:

• a long-term oriented family or founder as anchor shareholder,
• a significant shareholding by management,
• substantial share purchases by the management or the supervisory board, and
• share buybacks.

The Spinoza Entrepreneur Fund has a high degree of flexibility to invest in different asset classes. Thus, the fund can be positioned defensively, if necessary, or take a more aggressive approach to seize market opportunities. However, the majority of the fund is always focused on investing in attractive companies with strong long-term earnings prospects.