Carmignac Sécurité FCP ISIN FR0010149120 Fixed income management

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Recommended minimum investment horizon : 2 years

At 23/04/2018
Keith Ney
International Bonds
  • NAV : 1767.42 €
  • D-1 : +0.01 %
  • YTD : +0.92 %
  • 12 Month : +0.62 %

In this environment of financial repression in Europe, we see the need for active, flexible, global and high-conviction management.

Best Euro denominated short-term bonds Fund - 10 & 20 years

€uro Fund Award 2018
Germany
February 2018
All awards

Description

Fund invested in bonds and other debt securities denominated in Euro. It seeks to outperform its reference indicator, the Euro MTS 1-3 years, over a 2-year investment horizon with lower volatility.

Carmignac Global Strategy March 2018

  • The technology sector was down
  • Oil prices rose
  • European peripheral yields eased
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Exposure data

monthly weekly
March 2018
1.02
Modified duration
0.68
Yield to maturity
A-
Avg. Rating
Week from 13 to 20 Apr 2018
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Management Comments

Global

March 2018

Financial markets were volatile during the month due to the Federal Reserve’s interest rate hike, the publication of lower-than-expected global growth figures, and the looming trade war between the United States and China. In this risk-averse environment, German yields eased significantly, weighing on our short core European bond positions. However, the Fund greatly benefitted from the resilience of peripheral European yields, especially through its Spanish and Italian government bonds. We have positive modified duration involving limited short positions on core European bonds, smaller long positions on peripheral debt, and limited credit risk.

Weekly

Week from 13 to 20 Apr 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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