Share Class
LU0992630086
Unlock the untapped potential of Asian markets beyond China:
- Capture the growth potential of Asian markets beyond China, thanks to a rigorous investment process focusing on quality companies, with sustainable profitability.
- Capitalise on the expertise of a seasoned investment team to unlock hidden opportunities through a small and mid-cap bias, a segment often neglected by research analysts and consequently overlooked by investors.
- Gain access to a vast universe and a wide range of investment themes, offering portfolio diversification.
Asset Allocation
Equities89.6 %
Other10.4 %
Data as of: 30 Apr 2026.
Risk Indicator
1
2
3
4
5
6
7
Lowest risk
Highest risk
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
Cumulative Performance 10 YearsCumulative Performance 5 YearsCumulative Performance 3 YearsCumulative Performance 12 Months
+ 279.3 %
+ 236.2 %
+ 115.8 %
+ 125.9 %
+ 78.8 %
To 04/06/2026
Calendar Year Performance 2016Calendar Year Performance 2017Calendar Year Performance 2018Calendar Year Performance 2019Calendar Year Performance 2020Calendar Year Performance 2021Calendar Year Performance 2022Calendar Year Performance 2023Calendar Year Performance 2024Calendar Year Performance 2025
+ 21.2 %
+ 24.1 %
- 6.9 %
+ 5.2 %
+ 6.5 %
+ 20.0 %
- 17.2 %
+ 10.9 %
+ 25.1 %
+ 11.5 %
Net Asset Value
£ 379.33
Asset Under Management
234 M €
Net Equity Exposure30/04/2026
89,6 %
SFDR - Fund Classification
Article
8
Data as of: 30 Apr 2026.
Data as of: 4 Jun 2026.
Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The Fund presents a risk of loss of capital.
The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Sustainable Finance Disclosure Regulation (SFDR) 2019/2088. The SFDR classification of the Funds may change over time.
The strategy in a nutshell
Discover the Fund’s main features and benefits through the words of the Fund Managers.
Fund Management Team
We seek to select the most attractive companies in the universe of emerging small and mid-caps and underexploited frontier markets through a socially responsible investment approach.
Carmignac Portfolio Asia Discovery 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: 29 May 2026.Fund management team
Performance commentary
- Against this backdrop, our strategy delivered an excellent performance in May, although it slightly underperformed its reference indicator.
- Technology stocks continued to advance, supported by massive investments from U.S. hyperscalers in artificial intelligence infrastructure.
- Our investments across the AI value chain contributed positively to performance, led by major players such as SK Hynix, Samsung Electronics and TSMC, as well as their suppliers and upstream beneficiaries, including Yageo, Grand Process Technology and Delta Electronics.
- Universal Microwave Technology was also among the main performance drivers during the month, benefiting from sustained demand for components used in low-Earth orbit (LEO) satellites.
- Conversely, Jentech Precision Industrial slightly detracted from performance, as the company’s outlook was impacted by design changes to NVIDIA’s upcoming Rubin GPU platform.
Outlook strategy
- Despite an uncertain geopolitical environment, our long-term investment thesis on Emerging Asia remains fully intact. While persistently higher energy prices could weigh on global economic activity, they do not, in our view, undermine the region’s strong fundamentals, which continue to be supported by robust earnings growth, attractive valuations and strong technological momentum.
- South Korea and Taiwan occupy a central position within the global semiconductor and artificial intelligence ecosystem. Their strategic role across these value chains provides attractive visibility and sustainable long-term growth prospects.
- India continues to display one of the most dynamic growth trajectories in the world. In this environment, we favour high-quality domestic companies in the banking, insurance and consumer sectors, while maintaining a selective approach given demanding valuation levels, particularly in light of weakening fundamentals and downward revisions to earnings growth expectations.
- During the month, we made several portfolio adjustments, notably taking profits in holdings that had experienced a particularly strong rebound, including SK Hynix and Gold Circuit Electronics. We also exited our position in KFin Technologies.
- Finally, we initiated two new positions: Sumitomo Electric Industries, a leading provider of power cables and optical connectivity solutions, and Fositek, a specialist in liquid cooling systems and components used in next-generation technology infrastructure.
Performance Overview
Data as of: 4 Jun 2026.Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The Fund presents a risk of loss of capital.
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.
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 06/06/2026
Carmignac Portfolio Asia Discovery Portfolio overview
Below is an overview of the composition of the portfolio.
Geographical Breakdown
Data as of: 30 Apr 2026.| Asia | 92.7% |
| Asia-Pacific | 3.4% |
| Eastern Europe | 2.7% |
| Middle East | 1.1% |
| Latin America | - |
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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: 30 Apr 2026.Equity Investment Weight89.6%
Net Equity Exposure89.6%
Number of Equity Issuers47
Active Share69.0%
To Access the weekly view
Articles that may interest you
Strategies insights • 25 July 2025 • English
Carmignac Portfolio Asia Discovery: Letter from the Fund Manager - Q2 2025
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Southeast Asia: A powerhouse in the making
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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.
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.
Market environment