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

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Recommended minimum investment horizon : 3 years

At 14/08/2018
Malte HEININGER
European Equities
  • NAV : 128.59 €
  • D-1 : -0.43 %
  • YTD : +1.73 %
  • 12 Month : +11.93 %

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 July 2018

  • Risky assets rallied
  • Lower oil prices
  • Pressure on core yields
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Exposure data

monthly weekly
July 2018
77.30 %
Investment rate
11.18 %
Exposure rate
Week from 3 to 10 Aug 2018
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Management Comments

Global

July 2018

European markets rallied in July, supported in particular by a lull in trade tensions between the European Union and the United States, as reflected in the agreement between Donald Trump and Jean-Claude Juncker at the end of the month. In this context, the Fund’s performance was hurt by the fall in UK insurance comparison site Gocompare.com. Similarly, the declines in sporting goods manufacturer Puma and software publisher Alfa Financial Software proved costly. On the other hand, we benefitted from the strong performance of Spirit Airlines, which made the biggest contribution to the portfolio’s performance. The US airline announced a reduction in its costs and the number of cancelled flights. Finally, we also profited from Siemens Healthineers. The medical imaging specialist published better-than-expected quarterly earnings, which were welcomed by investors. Equity exposure remained cautious at the end of the period.

Weekly

Week from 3 to 10 Aug 2018

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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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