Press Release Paris, 17 March 2017 Total number of shares and voting rights Articles L. 233-8 (II) of the French Commercial Code and 223-16 of Autorité des marchés financiers General Regulations

DECEMBER 2023 Investment and Portfolio Advisory 02 Executive summary 04 Our view – Rothschild & Co 11 Consensus – Rates & government bonds 14 Consensus – Credit 17 Consensus – Equities 21

LongRun Equity QUARTERLY LETTER I JANUARY 2024 LONGRUN EQUITY I JANUARY 2024 2 Investment philosophy We act as long-term business owners investing the wealth you have entrusted us with in a

Portfolio manager’s commentary Portfolio ends 2023 strongly Global stocks rose again in December (+4.8% in USD terms) and market participation broadened into the year-end as investors became enthused

Portfolio manager’s commentary Portfolio ends 2023 strongly Global stocks rose again in December (+4.8% in USD terms) and market participation broadened into the year-end as investors became enthused

Portfolio manager’s commentary Portfolio ends 2023 strongly Global stocks rose again in December (+4.8% in USD terms) and market participation broadened into the year-end as investors became enthused

Fee schedule Discretionary services APRIL 2024 COVER Marbled endpapers in A Century of Finance 1804-1904: The London House of Rothschild written by Jules Ayer in 1905. This volume documents the

The old normal MARKET PERSPECTIVE I NOVEMBER 2022 The UK, unusually, has been centre stage for global investors this last month. They – and we – have been transfixed by a richness of embarrassments,

Mosaique Asset Allocation MARCH 2023 The cyclical risks markets had to deal with in 2022 continue to fade, even as geopolitical risks (Ukraine, and heightened China-US tension) remain elevated. Most

Mosaique Asset Allocation FEBRUARY / MARCH 2023 The cyclical risks markets had to deal with in 2022 may be fading, even as geopolitical risks (the Ukraine War and heightened China–US tensions over