Equity strategies

Carmignac Portfolio Climate Transition

SICAVThematicESG Thematic Fund Article 8
Share Class

LU0807690754

A thematic equity Fund acting for climate change mitigation
  • Investing with a purpose : aiming to generate attractive returns on the long-term while having a positive environmental contribution.
  • Investing efficiently : targeting innovative companies across the whole renewable and green industry value chains.
Asset Allocation
Equities94.1 %
Other5.9 %
Data as of:  31 May 2024.
Risk Indicator
5/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 16.2 %
+ 17.7 %
+ 20.3 %
- 9.5 %
+ 3.2 %
From 19/07/2012
To 12/06/2024
Calendar Year Performance 2023
+ 7.1 %
- 16.8 %
+ 22.6 %
+ 6.8 %
- 15.6 %
+ 17.9 %
+ 18.9 %
+ 2.6 %
- 20.3 %
+ 5.4 %
Net Asset Value
116.2 $
Asset Under Management
226 M $
Market
Thematic Fund
SFDR - Fund Classification

Article

8
Data as of:  12 Jun 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.

Carmignac Portfolio Climate Transition 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:  31 May 2024.
Fund management team
[Management Team] [Author] Wiskirski Michel

Michel Wiskirski

Fund Manager

Market environment

  • Returns on equities and bonds were decent in May, with investors still optimistic for the economy.
  • Equity performance improved with the MSCI World up 4.5%. Bonds also did well, up 1.3%.
  • Oil prices fell in May after peaking in April.
  • Commodities delivered positive returns with the Bloomberg Commodity index gaining 1.8%.
  • This can be attributed to ongoing conflict in the Middle East and Ukraine, and stable global demand.

Performance commentary

  • Our Fund’s performance over May was positive in both absolute and relative terms.
  • Nextera was the month’s top contributor although its green energy peers had an adverse effect.
  • Samsung weighed heaviest but LG Chem also proved costly after demand for electric vehicles softened.
  • We benefitted from our overweighting and careful selection of industrial and utilities stocks.
  • The month’s top contributor was Nextera, a green energy supplier.
  • Another good source was Taiwan Semiconductors (TSMC), one of our biggest positions, which is part of the green technology sub-theme. This came amid strong demand for microchips.

Outlook strategy

  • We made no changes to our portfolio in May:
  • Our strong conviction about semiconductors remains intact and we think that our diversification through sub-themes will make it easier to navigate the market.

Performance Overview

Data as of:  12 Jun 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™ :  © 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.On 15/05/2020 the reference indicator changed to MSCI AC WORLD NR (USD) index net dividends reinvested. Performances are presented using the chaining method. The Fund’s name was changed from Carmignac Portfolio Green Gold to Carmignac Portfolio Climate Transition.​From 01/01/2013 the equity index reference indicators are calculated net dividends reinvested. The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 14/06/2024

Carmignac Portfolio Climate Transition Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  31 May 2024.
North America42.6 %
Asia29.4 %
Europe25.2 %
Asia-Pacific1.7 %
Latin America1.0 %
Africa0.1 %
Eastern Europe-
Total % Equities100.0 %
North America42.6 %
usUSA
40.0 %
caCanada
2.6 %

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:  31 May 2024.
Equity Investment Weight94.1 %
Net Equity Exposure86.8 %
Number of Equity Issuers55
Active Share91.3 %

The strategy in a nutshell

Discover the Fund’s main features and benefits through the words of the Fund Manager.
Fund Management Team
[Management Team] [Author] Wiskirski Michel

Michel Wiskirski

Fund Manager
Through Carmignac Portfolio Climate Transition, we are adopting a differentiated approach to climate change that reflects our sustainable philosophy. This position is in line with our first theme of ESG engagement: Climate.
[Management Team] [Author] Wiskirski Michel

Michel Wiskirski

Fund Manager
View Fund's characteristics
The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.
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.