Marathon Asset Management Limited

Marathon Asset Management Limited (Marathon‑London) is an independent investment management firm with a 35+ year track record of managing regional, international and global equity strategies on behalf of institutional clients. Marathon‑London’s distinctive investment philosophy, referred to as the capital cycle approach to investing, focuses on understanding the supply‑side longer‑term dynamics within a competitive ecosystem, management behavior in driving an attractive capital cycle dynamic, and how the evolution of supply‑side forces impact the economics of the businesses within a particular industry. Marathon‑London operates a multi‑counselor model in which portfolio managers are generalists focused on specific regions (Europe, Japan, Pacific ex‑Japan and the Emerging Markets, and North America) and are independently accountable for their own buy/sell decisions. Each portfolio is then aggregated up for broader international and global equity mandates. There are no committee‑based decision‑making structures which, in turn, allows the portfolio managers the independence and flexibility to execute their skills as stock pickers and aligns their incentives with that of Marathon‑London’s clients.

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