Notice to shareholders

See the document

Luxembourg, 23 January 2018

Dear Sir/Madam,

We would like to thank you for the trust you have placed in us. We are honoured to count you among the shareholders of “Carmignac Portfolio” (the “Fund”). We would like to hereby inform you of the following changes to the Fund prospectus dated DECEMBER 2017, as corrected on 16 January by a prospectus dated JANUARY 2018, as resolved by the Board of Directors after due consideration. These amendments entered into force on DECEMBER 2017, except if otherwise indicated below.

Please kindly note that this notice has been sent to all Shareholders of the Fund whereas you may be impacted only in case that you have chosen to invest in Shares of one or several Sub-Funds or Share Classes subject to any changes, as described below.

All capitalised terms used but not defined herein shall have the meaning ascribed to them in the prospectus.

1. CHANGES TO ALL SUB-FUNDS
2. LIQUIDATION AND SWITCH OF SHARE CLASSES; CONVERSION OF A SHARE CLASS
3. CHANGES TO INVESTMENT MANAGEMENT, INVESTMENT STRATEGY AND/OR INVESTMENT LIMITS
4. PARTIAL DELEGATION OF INVESTMENT MANAGEMENT
5. CONFIRMATION ON MINIMUM EQUITY INVESTMENT
6. REFERENCE TO SOCIALLY RESPONSIBLE INVESTMENT
7. REWORDING OF THE INVESTMENT POLICY
8. CORRECTION OF THE PROSPECTUS

A new version of the prospectus dated JANUARY 2018 and the Key Investor Information Documents of the renamed Sub-Fund in Section 3.1., are available free of charge, in French, English, German, Italian, Spanish, Chinese and Dutch at the registered office of the Fund, on the website www.carmignac.com and also :

In Switzerland, with the representative CACEIS (Switzerland) SA, Route de Signy, 35, CH-1260 Nyon. The Swiss Paying Agent is CACEIS Bank Luxembourg, succursale de Nyon / Suisse, Route de Signy 35, CH-1260 Nyon.

Yours faithfully,

Eric Helderlé
Director