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Carmignac extends successful target maturity Fund range

Published on
3 March 2025
Read time
1 minute(s) read

Carmignac has announced the launch of its latest target-maturity credit fund, Carmignac Credit 2031.

The fund is managed by Carmignac’s credit team, including co-head of fixed income and head of credit, Pierre Verlé and fund managers, Alexandre Deneuville and Florian Viros. This launch extends the firm’s top-performing target maturity range. Carmignac Credit 2027 has assets of €1.85 billion1, and Carmignac Credit 2029 has assets of €1 billion having delivered an above-target annualized return of 11.1%2 since inception.

The new fund seeks to generate attractive risk-adjusted returns between its inception and maturity in 20313.

The fund management team utilises a rigorous investment approach combining fundamental company research and broader credit market analysis to estimate a cost of risk for each security. The approach makes it possible to build a diversified portfolio of corporate bonds with an attractive risk-adjusted weighting and high-income visibility, while hedging currency risk.

Carmignac Credit 2031 now has assets of €390 million4 following a merger with the firm’s first target maturity fund, Carmignac Credit 2025 on 25 February 2025. The first vintage has comfortably outperformed its objective5 and the longer-dated fund (Carmignac Credit 2031) now has a more attractive yield-to-maturity profile.

Carmignac Credit 2031 is registered for sale in Austria, Belgium, France, Germany, Italy, Luxembourg, Spain and Switzerland.

Pierre Verlé comments:

“Credit markets continue to exhibit attractive yields but with the path for inflation and rates uncertain, many investors are seeking stability and visible earnings. Our target maturity funds aim to provide investors with an attractive return profile while minimising exposure to market risk over a defined investment period thanks to a strong fundamental approach. We’re thrilled the strategy continues to resonate with investors across Europe and are happy to launch our fourth fund and offer investors in our first vintage the opportunity to remain invested.”

1As at 25 February 2025.
2As at 25 February 2025. Carmignac Credit 2029, A Eur Acc annualised performance objective of +4.22%. Inception date – 20/10/2023.
3Please consult the Fund's prospectus for more information on the management objective. It is not a promise of return or performance of the Fund and performance is not guaranteed.
4As at 25 February 2025.
5As at 24 February 2025. Carmignac Credit 2025, A Eur Acc. The fund had an annualised performance objective of +1.9%, corresponding to an accumulative net performance of +9.9% over 5 years. The fund has achieved an annualised net performance of +2.5%, i.e. a cumulative net performance of +11.3%.

Carmignac Credit 2031

Investing in credit markets with visibility and diversification
Discover the fund page

Carmignac Credit 2031 A EUR Acc

ISIN: FR001400U4S3
Recommended minimum investment horizon
From the launch date to the maturity date, i.e. 31 october 2031.
Risk indicator*
2/7
SFDR - Fund Classification**
Article 8

*Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. **Sustainable Finance Disclosure Regulation (SFDR) 2019/2088. The SFDR classification of the Funds may change over time.

Main risks of the fund

Credit: Credit risk is the risk that the issuer may default.
Interest Rate: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.
Liquidity: Temporary market distortions may have an impact on the pricing conditions under which the Fund might be caused to liquidate, initiate or modify its positions.
Discretionary Management: Anticipations of financial market changes made by the Management Company have a direct effect on the Fund's performance, which depends on the stocks selected.
The Fund presents a risk of loss of capital. Please refer to the Fund’s prospectus to view the exhaustive list of risks.

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This communication is published by Carmignac Gestion S.A., a portfolio management company approved by the Autorité des Marchés Financiers (AMF) in France, and its Luxembourg subsidiary Carmignac Gestion Luxembourg, S.A., an investment fund management company approved by the Commission de Surveillance du Secteur Financier (CSSF). “Carmignac” is a registered trademark. “Investing in your Interest” is a slogan associated with the Carmignac trademark.

Past performance is not a reliable indicator of future returns.

This material does not constitute a subscription offer, nor does it constitute investment advice. This material is not intended to provide, and should not be relied on for, accounting, legal or tax advice. This material has been provided to you for informational purposes only and may not be relied upon by you in evaluating the merits of investing in any securities or interests referred to herein or for any other purposes. The information contained in this material may be partial information and may be modified without prior notice. They are expressed as of the date of writing and are derived from proprietary and non-proprietary sources deemed by Carmignac to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. This material is not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the material or availability of this material is prohibited. Persons in respect of whom such prohibitions apply must not access this material. Taxation depends on the situation of the individual.
SFDR Fund Classification: Sustainable Finance Disclosure Regulation (SFDR) 2019/2088. EU Act that requires asset managers to classify funds into categories, “Article 8” funds promote environmental and social characteristics, “Article 9” funds have sustainable investments as a measurable objective. In addition to not promoting environmental or social characteristics, "Article 6" funds have no sustainable objectives.

UK: This document was prepared by Carmignac Gestion, Carmignac Gestion Luxembourg or Carmignac UK Ltd and is being distributed in the UK by Carmignac Gestion Luxembourg.

CARMIGNAC GESTION 24, place Vendôme - F-75001 Paris - Tél : (+33) 01 42 86 53 35 Investment management company approved by the AMF. Public limited company with share capital of € 13,500,000 - RCS Paris B 349 501 676

CARMIGNAC GESTION Luxembourg - City Link - 7, rue de la Chapelle - L-1325 Luxembourg - Tel : (+352) 46 70 60 1 Subsidiary of Carmignac Gestion - Investment fund management company approved by the CSSF Public limited company with share capital of € 23,000,000 - RCS Luxembourg B 67 549