Carmignac Credit 2027
FR0014008215
Carmignac Credit 2027 : Characteristics & Risks
Investment Universe and Objective
Carmignac Credit 2027 is a target maturity fixed income UCITS fund that follows a buy-and-hold strategy on credit markets. With a target performance indication, a predetermined maturity date, and a rigorous and diversified issuer selection, the Fund provides investors with visibility over their investment.
The investment objective is to offer performance, net of management fees, from a portfolio made up of securities from public or private sector issuers (including securitisation instruments representing up to 40% of net assets), with no restrictions in terms of average rating, duration, maturity or public/private split. The fund will therefore be exposed to the credit markets as well as the fixed income markets. With no restrictions on average rating, the fund aims for potentially high exposure to high yield debt securities which offer higher potential yields than investment grade debt securities (rated at least BBB or equivalent, or of credit quality deemed equivalent by the portfolio manager), but expose the fund to a higher level of risk (in particular that of issuer default). The portfolio is intended to be held until a liquidation period beginning six months before the fund matures on 30 June 2027 (buy-and-hold strategy), or until any early maturity date:
• No later than 3 April 2026, if the fund has achieved or exceeded a performance deemed appropriate and corresponding to the IRR observed between 30 June 2022 and 27 February 2026 (the “Target IRR”) of 2.08% for the A EUR Acc and Ydis units, 1.77% for the E EUR Acc and Ydis units, 2.49% for the F EUR Acc and Ydis units, i.e. a net asset value of EUR 107.83 observed on 27 February 2026 for the A EUR Acc unit, EUR 106.65 for the E EUR Acc unit, EUR 109.42 for the F EUR Acc unit, or an equivalent performance over the period, dividends reinvested, for the A EUR Ydis, E EUR Ydis and F EUR Ydis share classes, respectively.
• No later than 4 August 2026, if the fund has achieved or exceeded a performance deemed appropriate and corresponding to the IRR observed between 30 June 2022 and 30 June 2026 (the “Target IRR”) of 1.94% for the A EUR Acc and Ydis units, 1.64% for the E EUR Acc and Ydis units, 2.35% for the F EUR Acc and Ydis units, i.e. a net asset value of EUR 108 observed on 30 June 2026 for the A EUR Acc unit, EUR 106.71 for the E EUR Acc unit, EUR 109.74 for the F EUR Acc unit, or an equivalent performance over the period, dividends reinvested, for the A EUR Ydis, E EUR Ydis and F EUR Ydis share classes, respectively.
Under no circumstances may this investment objective be construed as an undertaking in relation to the yield or performance of the fund; the performance is not guaranteed.
Characteristics
- Management Company
- Carmignac Gestion S.A
- Legal Form
- French mutual fund (FCP)
- ISIN
- FR0014008215
- Bloomberg
- CACC2EY FP
- SFDR - Fund Classification
- Article 8
- Risk Indicator
1
2
3
4
5
6
7
Lowest risk Highest risk
- Recommended minimum investment horizon
- 5 years
- Management
- Fixed income strategies
- Reference Indicator
- -
- Morningstar Category
Morningstar Category - N.A.
- Date of 1st NAV
- 02/05/2022
- Base Currency
- EUR
- Share class AUM
- 175 786.48€ (15/01/26)
- Fund AUM
- 1 645 M€ / 1 908 M$
- Dividend Policy
- Distribution
- Capital Guarantee
- No
- NAV Frequency
- Subscribe to NAVs
- Order Placement Cut-Off Time
- Before 13:00 CET
- Distribution Frequency
- Yearly
- Date of the last dividend
- 30/04/2025
- Payment date of last dividend
- 14/05/2025
- Amount of the last dividend
- 2.20€
Fees
- Entry costs
- We do not charge an entry fee.
- Exit costs
- We do not charge an exit fee for this product.
- Management fees and other administrative or operating costs
- 1.34% This estimate is based on actual costs over the past year.
- Transaction Cost
- 0.12% This is an estimate of the costs incurred when we buy and sell the investments underlying the product. The actual amount varies depending on the quantity we buy and sell.
- Performance fees
- There is no performance fee for this product.
Risks
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.
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