Equity strategies

Carmignac Portfolio Investissement

SICAVGlobal marketSRI Fund Article 8
Share Class

LU0992625839

A Fund geared for a changing world
  • An international equity Fund offering an exposure to companies that thrive in an evolving global world.
  • An opportunistic approach aiming at benefiting from the most promising market dynamics and trends.
Key documents
Asset Allocation
Equities97 %
Other3 %
Data as of:  28 Jun 2024.
Risk Indicator
4/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 135.6 %
+ 132.2 %
+ 80.5 %
+ 16.0 %
+ 34.4 %
From 15/11/2013
To 11/07/2024
Calendar Year Performance 2023
+ 11.3 %
+ 1.5 %
+ 2.8 %
+ 5.4 %
- 13.5 %
+ 25.8 %
+ 35.3 %
+ 5.2 %
- 17.4 %
+ 20.2 %
Net Asset Value
235.56 €
Asset Under Management
259 M €
Market
Global market
SFDR - Fund Classification

Article

8
Data as of:  11 Jul 2024.
​Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged. The Sustainable Finance Disclosure Regulation (SFDR) 2019/2088 is a European regulation that requires asset managers to classify their funds as either 'Article 8' funds, which promote environmental and social characteristics, 'Article 9' funds, which make sustainable investments with measurable objectives, or 'Article 6' funds, which do not necessarily have a sustainability objective. For more information please refer to https://eur-lex.europa.eu/eli/reg/2019/2088/oj.

Carmignac Portfolio Investissement fund performance

Take a look at the Fund's performance supported by our Fund managers’ market commentary and strategy insight.

Our monthly comments

Data as of:  28 Jun 2024.
Fund management team

Kristofer Barrett

Head of Global Equities, Fund Manager

Market environment

  • US growth continued its soft landing. European data revealed sluggish growth.
  • Central banks around the world took different paths with the ECB, Swiss National Bank and Bank of Canada cutting interest rates, but the Bank of England and Federal Reserve holding tight.
  • Political news was a source of volatility, in Europe where early elections were called in France, and in a few emerging countries such as India, Mexico and South Africa.
  • US stock markets set new records, once again supported by technology companies - especially semiconductor manufacturers. However, European markets were down.

Performance commentary

  • The Fund delivered a positive return, outperforming its reference indicator.
  • The technology sector was the main source of performance in June as Taiwanese (TSMC) and South Korean (Samsung Electronics and SK Hynix) stocks rallied.
  • US tech stocks followed suit. Not just the Magnificent 7 (Nvidia, Microsoft, Meta, etc.) but Broadcom and ServiceNow too.
  • However, the portfolio’s European component lost ground due to political risks and the slump in Airbus’s share price amid supply problems and delivery delays.

Outlook strategy

  • We identify promising long-term trends, especially in technology, healthcare, infrastructure and the consumer sector.
  • We are continuing our strategy of diversifying the portfolio by investing all along the value chain, seizing opportunities presented by large caps as well as SMEs.
  • During the month we opened three new positions in the United States: Cadence Design System, Deer & Co and O’Reilly Automotive.
  • We also closed positions in Baxter International and L’Oréal, taking the total number of holdings to 71.

Performance Overview

Data as of:  11 Jul 2024.
​Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). ​Morningstar Rating™ :  © YYYY Morningstar, Inc. All Rights Reserved. The information contained herein: is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 13/07/2024

Carmignac Portfolio Investissement Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  28 Jun 2024.
North America59.1 %
Europe19.3 %
Asia18.1 %
Latin America1.8 %
Asia-Pacific1.7 %
Total % Equities100.0 %
North America59.1 %
usUSA
57.5 %
caCanada
1.6 %

Key figures

Below are the key figures for the Fund, which will give you a clearer idea of the Fund's management and equity positioning.

Exposure Data

Data as of:  28 Jun 2024.
Equity Investment Weight97.0 %
Net Equity Exposure97.0 %
Number of Equity Issuers71
Active Share75.2 %

The strategy in a nutshell

Discover the Fund’s main features and benefits through the words of the Fund Manager.
Fund Management Team

Kristofer Barrett

Head of Global Equities, Fund Manager
Since its creation in 1989 by Edouard Carmignac, our Investissement strategy seeks to identify long-term trends in a changing world and seize global equity market opportunities.
View Fund's characteristics
Reference to certain securities and financial instruments is for illustrative purposes to highlight stocks that are or have been included in the portfolios of funds in the Carmignac range. This is not intended to promote direct investment in those instruments, nor does it constitute investment advice. The Management Company is not subject to prohibition on trading in these instruments prior to issuing any communication. The portfolios of Carmignac funds may change without previous notice.
The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.
​The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performance is shown net of fees (excluding any subscription fees payable to the distributor). 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 KIDs (key information documents) and prospectuses available on this website. The KID must be made available to the subscriber prior to purchase.The Fund’s prospectus, KIDs and annual reports are available at www.carmignac.ch, or through our representative in Switzerland, CACEIS (Switzerland), S.A., Route de Signy 35, P.O. Box 2259, CH-1260 Nyon. The paying agent is CACEIS Bank, Montrouge, succursale de Nyon/Suisse, Route de Signy 35, 1260 Nyon.
Carmignac Portfolio is a sub-fund of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive.
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor), where applicable. 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 KIDs (key information documents) and prospectuses available on this website. The KID must be made available to the subscriber prior to purchase.). The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager.

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