Share Class
LU1299311834
A Fund geared for a changing world
- An unconstrained approach in terms of sectors, regions, or investment style.
- Stock selection based on companies that excel, are undervalued, and display a long-term potential.
- Focus on secular growth profile driven by innovation, technology and a unique selling proposition.
Key documents
Asset Allocation
Equities97.6 %
Other2.4 %
Data as of: 30 Apr 2025.
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
+ 72.1 %
-
+ 56.3 %
+ 35.8 %
+ 1.7 %
To 07/05/2025
Calendar Year Performance 2015Calendar 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 2024
- 1.7 %
+ 1.1 %
+ 3.7 %
- 14.8 %
+ 24.4 %
+ 33.7 %
+ 3.8 %
- 18.5 %
+ 18.5 %
+ 24.6 %
Net Asset Value
172.11 €
Asset Under Management
217 M €
Net Equity Exposure30/04/2025
91.7 %
SFDR - Fund Classification
Article
8
Data as of: 30 Apr 2025.
Data as of: 7 May 2025.
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: 30 Apr 2025.Fund management team
Kristofer Barrett
Head of Global Equities, Fund Manager
Performance commentary
- The fund significantly outperformed its reference indicator, primarily driven by stock selection in the technology and healthcare sectors.- During this period, the key contributors to our performance were Mercadolibre, Broadcom, and ServiceNow. Additionally, our recent acquisitions such as Comfort Systems and Celestica emerged as top performers.
- Furthermore, our put options on indices and securities provided substantial contributions, particularly during the sharp market downturn. These options, which were purchased several months prior, are designed to safeguard the portfolio against extreme events like those witnessed in April.
Outlook strategy
- In a highly volatile market environment, our strategy focuses on the long-term potential of equities, identifying companies capable of weathering disruptions such as Trump 2.0 and the increasing risk of recession.- TSMC, the fund's largest holding, reported satisfactory quarterly results while maintaining its outlook its 2025 and 5-year outlook, The company has not seen any change of plans from customers yet due to tariff concerns and remains bolstered by demand for chips to support computational power and connectivity.
- During the month, we leveraged the sharp market downturn to reinforce certain convictions at attractive valuation levels, particularly within the technology sector, such as Nvidia, Amazon, and Alphabet. We also increased our holdings in Novo Nordisk, as growth potential for obesity drugs outside the United States seems underestimated.
- Simultaneously, we took profits on stocks that had held up best during this period of volatility, including Centene and Cencora.
- Additionally, we increased our exposure to small and mid-cap companies, which now constitute 8% of the fund.
Performance Overview
Data as of: 7 May 2025.Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). 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. The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 09/05/2025
Carmignac Portfolio Investissement Portfolio overview
Below is an overview of the composition of the portfolio.Geographical Breakdown
Data as of: 30 Apr 2025.| North America | 64.7 % |
| Asia | 19.8 % |
| Europe | 11.0 % |
| Latin America | 3.2 % |
| Asia-Pacific | 1.4 % |
To Access the weekly view
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 2025.Equity Investment Weight97.6 %
Net Equity Exposure91.7 %
Number of Equity Issuers80
Active Share79.9 %
To Access the weekly view
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.
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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.
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.The Fund’s prospectus, KIDs and annual reports are available at www.carmignac.ch, or through our representative in Switzerland, CACEIS (Switzerland), S.A., Route de Signy 35, P.O. Box 2259, CH-1260 Nyon. The paying agent is CACEIS Bank, Montrouge, succursale de Nyon/Suisse, Route de Signy 35, 1260 Nyon.
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