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
+ 125.2 %
+ 116.8 %
+ 73.3 %
+ 10.6 %
+ 25.2 %
From 15/11/2013
To 25/07/2024
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
225.23 €
Asset Under Management
244 M €
Market
Global market
SFDR - Fund Classification

Article

8
Data as of:  25 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

  • The Fund delivered a positive return.
  • The main sources of performance were: DS Smith, Catalent and Olink
  • The main drags on performance were: Ansys, Darktrace and MMA Offshore
  • As we wrote last month, we had no position on the DS Smith discount when rumours emerged about Suzano (Brazil) making an offer for its potential buyer, International Paper.
  • However, the small position that we opened soon after proved very profitable when Suzano announced at the end of June that it was withdrawing its bid for International Paper.

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

  • The Fund delivered a positive return.
  • The main sources of performance were: DS Smith, Catalent and Olink
  • The main drags on performance were: Ansys, Darktrace and MMA Offshore
  • As we wrote last month, we had no position on the DS Smith discount when rumours emerged about Suzano (Brazil) making an offer for its potential buyer, International Paper.
  • However, the small position that we opened soon after proved very profitable when Suzano announced at the end of June that it was withdrawing its bid for International Paper.

Performance Overview

Data as of:  25 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™ :  © 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 27/07/2024

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
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.
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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