Geoffrey Symonds founded GLS in 1996 after working at Steinhardt Partners in New York until Michael Steinhardt retired in 1995. GLS Capital UK LLP is the London based operation of GLS. Straightforward, liquid strategy that invests predominantly in emerging market equities with a focus on buying strategic assets and companies at distressed valuations with an imminent catalyst for a re-rating. Key to success is market selection, weighting and timing based on analysis of political, economic and fundamental factors. GLS has dramatically outperformed the Emerging Market Index since inception and experienced multiple emerging market cycles. Investment approach typically focuses on geographical regions falling into two categories: • Emerging economies undergoing structural change such as Russia (1990s), Eastern Europe (1990s), Middle East (2003-2007); and • Recovering post-crisis economies such as Asian Crisis (1997-8), Dubai (2010+), Greece (2012+), Japan (2012+)