The judges recognised Luxembourg’s FDC as the best among small-country peers due to its combination of sovereign strength, disciplined governance, and strategic diversification. Transparent risk policies and robust institutionalised investment process underpin moderate yet consistent returns, while strong ESG integration – including Article 8 and 9 alignment, LuxFLAG labelling, and Paris-aligned benchmarks – demonstrates an ambitious sustainability vision. The fund’s rigorous external oversight, diversified portfolio, and €500m allocation to clean-energy infrastructure all reflect clear strategic foresight. Overall, FDC stands out for delivering excellent results, maintaining disciplined risk management, and executing a well-thought-out, low-cost strategy, setting a benchmark for both financial resilience and sustainable fund management. This holistic, forward-looking strategy exemplifies how small nations can lead globally in responsible investment and long-term value creation.