Carmignac appoints a new co manager for its Carmignac China New Economy fund and appoints three analysts to its investment team, strengthening its research capabilities.
Yunfan Bao promoted to co-manager of Carmignac China New Economy
Carmignac has promoted Yunfan Bao to co-manager of Carmignac China New Economy, which he has been managing alongside Naomi Waistell from 1 April 2026.
Yunfan has been a member of Carmignac’s emerging markets equities team since joining the firm in 2021 as an analyst covering Greater China equities. In his new role, he will contribute to portfolio construction and investment decisions within the strategy, leveraging his expertise in technology and innovation-driven companies in Greater China. Yunfan began his career at Goldman Sachs in Hong Kong.
His promotion reflects not only Carmignac’s conviction on this market and long history of emerging market investing, but also the firm’s commitment to offering career development opportunities.
Additions to analyst team to deepen sector coverage
Carmignac has also strengthened its analyst team with the appointments of Eirik Fladmark, William Benoit and Kai Johns.
Eirik Fladmark joined Carmignac as a technology analyst specialising in software and AI in February 2026. Based in London, he is contributing to strengthen the firm’s technology research coverage and expertise. Prior to joining Carmignac, Eirik was technology analyst at J.P. Morgan and a forward deployed engineer at Palantir. He studied advanced computer science at the University of Cambridge.
He will work alongside Somesh Batra, technology analyst specialising in hardware, and collaborate closely with the broader investment team, including Kristofer Barrett, fund manager of Carmignac Portfolio Tech Solutions, Carmignac Investissement and the equity book of Carmignac Patrimoine.
In a sector evolving as rapidly as technology, strong convictions built through bottom up stock picking and active management remain a powerful source of competitive advantage.
In line with Carmignac’s commitment to internal mobility, William Benoit has moved to the equities team, becoming an analyst with a generalist scope. Previously an ESG analyst at Carmignac, he developed particular expertise in the utilities, materials and energy industries, and will bring a strong understanding of industrial value chains, regulatory dynamics and transition-related investment issues to the equities team’s research capabilities.
Finally, Kai Johns has been appointed to the sustainable investment team as an ESG analyst, specialising in environmental research. He joins Carmignac from Greenbank Investments, where he spent seven years, and holds a law degree from the University of Cambridge.
These appointments further enhance Carmignac’s research capabilities, helping the firm identify long-term investment opportunities and innovation across sectors.
Biographies
Yunfan Bao is an equity fund manager and analyst covering Greater China within the emerging markets equities team. Yunfan joined Carmignac in 2021. He began his career in 2018 at Goldman Sachs in Hong Kong. In 2020, he joined Fullgoal Fund Management in Hong Kong as a Chinese equity analyst specialising in the TMT sector. Yunfan holds a Master of Science in finance from Simon Business School at the University of Rochester (US) and a bachelor’s degree in finance from Zhejiang University (China).
Eirik Fladmark is a technology analyst specialising in software and AI. Prior to joining Carmignac in early 2026, he worked as an investment banking analyst within the EMEA Technology team at J.P. Morgan. Prior to that, he was a forward deployed engineer (FDE) at Palantir Technologies in London. Eirik holds an MPhil in advanced computer science from the University of Cambridge (UK) where he focused on machine learning and a BSc in Computer Science from the University of Manchester (UK).
William Benoit is an equity analyst. He joined Carmignac in 2019 as part of the sustainable investment team before joining the equities team as a generalist. He holds a bachelor’s degree in economics from Loughborough University (UK) and a master’s degree in corporate finance and banking from EDHEC Business School (France). He is also a CFA charterholder.
Kai Johns is an ESG analyst specialising in environmental research. He joined Carmignac in April 2026 from Greenbank Investments, where he spent seven years. He holds a law degree from the University of Cambridge (UK) and is a CFA charterholder.