Carmignac Portfolio Grande Europe SICAV ISIN LU0099161993 Equity management

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Recommended minimum investment horizon : 5 years

At 15/02/2018
Mark DENHAM
European Equities
Vincent Steenman
European Equities
  • NAV : 194.45 €
  • D-1 : +0.81 %
  • YTD : -1.94 %
  • 12 Month : +5.52 %

At a time of economic recovery in Europe, we are maintaining a balanced portfolio construction containing exposure to securities sensitive to economic activity.

Description

Equity fund focused on stock-picking across European markets. The investment process is based on fundamental bottom-up analysis. Stock selection focuses on asymmetric risk/return profiles with a clear catalyst for entry and exit. The Fund aims to outperform its reference indicator over 5 years and to generate long-term capital growth.

Carmignac Global Strategy January 2018

  • The euro rose against the dollar
  • Core yields came under pressure
  • Equity markets appreciated
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Exposure data

monthly weekly
January 2018
86.79 %
Investment rate
93.20 %
Exposure rate
Week from 2 to 9 Feb 2018
This content is reserved to PRO SPACE members

Management Comments

Global

January 2018

The Fund turned in a positive performance and beat its reference indicator. European equities rose at the beginning of the year following the publication of consistently solid macroeconomic data. Our stock picking was rewarded, especially in the healthcare sector through the likes of Belgian biotech company Galapagos Genomics and Swiss laboratory Vifor Pharma. We were also rewarded for our choice of technology stocks. For example, ASML Holdings, a specialist supplier to the semi-conductor industry, made solid progress. We then reduced our exposure to the stock, taking profits after an excellent performance since it entered the portfolio last year. However, rare disease specialist Shire was down. Costume jewellery maker Pandora also weighed on performance. The Fund’s equity exposure was high at the end of the period.

Weekly

Week from 2 to 9 Feb 2018

This content is reserved to PRO SPACE members

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Legal information

The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Management fees are included in performances. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIIDs (key investor information documents) and prospectuses available on this website. The KIID must be made available to the subscriber prior to purchase.

The Fund’s prospectus, KIIDs and annual reports are available at www.carmignac.ch, or through our representative and Paying Agent in Switzerland, CACEIS Bank, Paris, succursale de Nyon/Suisse, Route de Signy 35, CH-1260 Nyon.

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