Brandywine's approach
Each of Brandywine's products are built on one core philosophy, Reduced Loss = Increased Returns. The way we do this is through an innovative investment framework called Net Capture.
Outperform Benchmarks
Seek to outperform benchmarks over full market cycles
Limit Bear Market Losses
Seek to reduce dramatic losses during market downturns
Maintain Downside Protection
Seek to provide always-on downside protection
Why Limiting Drawdowns Matters
Drawdowns Kill Performance. The math is straightforward: a 33% loss requires 49% just to get back to even, while constraining that loss to just 20% requires only 25% to recover—meaning a 13% reduction in loss provides a disproportionate 24% recovery edge. Brandywine's strategies are engineered to exploit this asymmetrical math, so investors can stay invested through the worst of markets and recover faster.
How this played out in real time: the Tariff Tantrum
From 5/31/23 through 4/30/26
| Largest Loss | Annual Return | |
|---|---|---|
| Brandywine Small Cap | -11.7% | +20.6% |
| Russell 2000 TR | -18.9% | +18.1% |
Even in a bull market, Net Capture can outperform.
Scroll to view chart
Largest Loss and Annual Return are calculated on a month-end basis; the chart reflects weekly values. Past performance is not indicative of future performance. There is the risk of loss as well as the opportunity for gain when investing in these strategies.
How Net Capture Works
Every Brandywine strategy uses the same three-part structure:
Beta
We purchase significant beta exposure in the underlying benchmark, like the Russell 1000 for our Brandywine Large Cap strategy
Protection
We purchase long put options that are always on with the intent to mitigate loss
Diversifier
We invest in a broadly diversified portfolio of non-correlated assets that seek to pay for the cost of the put protection
Each strategy seeks to maintain substantial unconstrained upside participation while providing continuous downside protection.
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