Carmignac Portfolio Long-Short European Equities SICAV ISIN LU1317704051 Mixed management

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Recommended minimum investment horizon : 3 years

At 15/10/2018
Malte HEININGER
European Equities
  • NAV : 128.96 €
  • D-1 : +0.05 %
  • YTD : +2.03 %
  • 12 Month : +6.84 %

We remain cautious towards the current market environment. We thus favour a relatively low net equity exposure

UCITS Equity over $250m

European Hedge Fund Performance Award 2018
United Kingdom
April 2018
All awards

Description

European equity fund with an actively managed net equity exposure ranging between -20% and 50%. The Fund seeks to generate positive risk-adjusted returns with low correlation to the general market environment through the combination of long and short positions and while following a flexible and active management. The Fund aims to outperform its reference indicator over 3 years.

Carmignac Global Strategy September 2018

  • • Oil prices rose
  • • German and US yields rose
  • • Latin American markets rallied
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Exposure data

monthly weekly
September 2018
82.03 %
Investment rate
-1.21 %
Exposure rate
Week from 5 to 12 Oct 2018
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Management Comments

Global

September 2018

European equity markets were up over the period, led by the most cyclical sectors of the market such as energy, materials and financials. The Fund's low exposure to these sectors meant it could not fully benefit from their gains. Our position in sporting equipment manufacturer Puma also fell, but this remains one of the Fund's strongest convictions. In addition, a number of our healthcare stocks were down over the period, along with the sector as a whole, with QIAGEN, MorphoSys and Evotec weighing on performance. However, biotech company Galapagos Genomics was up after announcing positive results of a phase-three clinical trial for its rheumatism drug, Filgotinib. These results greatly improve visibility over the group's revenue. We reduced the Fund’s equity exposure to close to zero by the end of the period.

Weekly

Week from 5 to 12 Oct 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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